Marathon Petroleum Corp | 2013 | FY | 3


Leases
We lease a wide variety of facilities and equipment under operating leases, including land and building space, office equipment, storage facilities and transportation equipment. Most long-term leases include renewal options and, in certain leases, purchase options. Future minimum commitments as of December 31, 2013, for capital lease obligations and for operating lease obligations having initial or remaining non-cancelable lease terms in excess of one year are as follows:
(In millions)
Capital
Lease
Obligations
 
Operating
Lease
Obligations
2014
$
51

 
$
191

2015
52

 
184

2016
51

 
152

2017
50

 
106

2018
49

 
95

Later years
345

 
241

Total minimum lease payments
598

 
$
969

Less imputed interest costs
(203
)
 
 
Present value of net minimum lease payments
$
395

 
 

Operating lease rental expense was:
(In millions)
2013
 
2012
 
2011
Minimum rental
$
213

 
$
139

 
$
123

Contingent rental

 

 
1

Rental expense
$
213

 
$
139

 
$
124


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