LEASE COMMITMENTS

12 Months Ended

Dec. 31, 2017

NOTE 6 LEASE COMMITMENTS

Operating lease agreements include leases for transportation equipment, power plants, machinery, terminals, storage facilities, land and office space. Occidental’s operating lease agreements frequently include renewal or purchase options and require the Company to pay for utilities, taxes, insurance and maintenance expenses. At December 31, 2017, future net minimum lease payments for noncancelable operating leases (excluding oil and gas and other mineral leases, utilities, taxes, insurance and maintenance expense) were the following:

(in millions)	Amount
2018	$	275
2019	135
2020	99
2021	87
2022	85
Thereafter	387

Total minimum lease payments	$	1,068

Rental expense for operating leases was $278 million in 2017, $237 million in 2016 and $197 million in 2015.