NOTE 7. LEASES

The Company leases certain office space under non-cancelable operating leases, with initial terms typically ranging from one to ten years, along with options that permit renewals for additional periods. The Company also leases certain equipment under non-cancelable operating leases, with initial terms typically ranging from one to five years. Minimum rent is expensed on a straight-line basis over the term of the lease.

Net rental expense for operating leases for the years ended December 31, 2014, 2013 and 2012 was:



DOLLARS IN MILLIONS	2014			2013			2012
Minimum Rental Expense	$	21.5		$	28.3		$	33.2
Less Sublease Rental Income	(1.3		)	(1.8		)	(2.5		)
Net Rental Expense	$	20.2		$	26.5		$	30.7

Future minimum lease payments under capital and operating leases at December 31, 2014 were:



DOLLARS IN MILLIONS	Capital Leases			Operating Leases
2015	$	1.9		$	16.5
2016	1.9			14.1
2017	0.6			12.9
2018	0.1			9.0
2019	—			7.7
2020 and Thereafter	—			19.1
Total Future Payments	$	4.5		$	79.3
Less Imputed Interest	(0.4		)
Present Value of Minimum Capital Lease Payments	$	4.1

The total of minimum rentals to be received in the future under non-cancelable subleases was $5.9 million at December 31, 2014.