LEASE COMMITMENTS

12 Months Ended

Dec. 31, 2018



NOTE 7	LEASE COMMITMENTS

Operating lease agreements include leases for real estate, equipment, plants and facilities, and information technology hardware. Occidental’s operating lease agreements frequently include renewal or purchase options and require the Company to pay for various fixed and variable cost including such things as utilities, taxes, insurance and maintenance expenses.

At December 31, 2018, future net minimum fixed lease payments for non-cancellable operating leases were the following (undiscounted):



(in millions)	Amount
2019	$	186
2020	147
2021	96
2022	68
2023	49
Thereafter	158
Total minimum lease payments	$	704

Rental expense for operating leases was $175 million in 2018, $278 million in 2017 and $237 million in 2016.