Leased facilities

12 Months Ended

Dec. 31, 2014

13. Leased facilities

At December 31, 2014, the company held non-cancelable operating leases covering office buildings, rail cars, service stations and other properties with minimum undiscounted lease commitments totalling $494 million as indicated in the following table:


	Payments due by period
millions of dollars	2015		2016		2017		2018		2019		After 2019		Total
Lease payments under minimum commitments (a)		178		126		93		39		30		28		494

(a)

Net rental cost under cancelable and non-cancelable operating leases incurred in 2014 was $315 million (2013 – $287 million, 2012 – $271 million). Related rental income was not material.

- 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.

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