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LEASE COMMITMENTS | 12 Months Ended
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Dec. 31, 2017
LEASE COMMITMENTS |
LEASE COMMITMENTS |
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.

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- Definition The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=77888251 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -URI http://asc.fasb.org/topic&trid=2208923 + Details
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