Note 5—Leases
Operating Leases
The aggregate rental expense for 2013, 2012 and 2011 was $225, $220, and $208, respectively. Sub-lease income, included in interest income and other, net, and contingent rents are not material.
Capital Leases
Gross assets recorded under capital leases were $201 and $187, at the end of 2013 and 2012, respectively. These assets are recorded net of accumulated amortization of $28 and $19 at the end of 2013 and 2012, respectively.
At the end of 2013, future minimum payments, net of sub-lease income of $150 for all years combined, under non-cancelable operating leases with terms of at least one year and capital leases were as follows:
|
| | | | | | | |
| Operating Leases | | Capital Leases |
2014 | $ | 189 |
| | $ | 17 |
|
2015 | 175 |
| | 17 |
|
2016 | 167 |
| | 16 |
|
2017 | 160 |
| | 16 |
|
2018 | 153 |
| | 16 |
|
Thereafter | 1,753 |
| | 338 |
|
Total | $ | 2,597 |
| | 420 |
|
Less amount representing interest | | | (224 | ) |
Net present value of minimum lease payments | | | 196 |
|
Less current installments(1) | | | (4 | ) |
Long-term capital lease obligations less current installments(2) | | | $ | 192 |
|
_______________
| |
(1) | Included in other current liabilities. |
| |
(2) | Included in deferred income taxes and other liabilities. |
