Lease Commitments

12 Months Ended

Dec. 31, 2017

We lease properties and equipment for use in our operations. In addition to rent, the leases may require us to pay directly for taxes, insurance, maintenance and other operating expenses or to pay higher rent when operating expenses increase. Rental expense, net of sublease income, was $314 million in 2017, $292 million in 2016 and $243 million in 2015.



The future minimum rental commitments under non-cancelable operating leases follow:
(MILLIONS OF DOLLARS)	2018		2019		2020		2021		2022		After 2022
Lease commitments	$	209	$	172	$	150	$	136	$	123	$	891