Delta Airlines 2011 Annual Report Download - page 81

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The following tables summarize, as of December 31, 2011 , our minimum rental commitments under capital leases and noncancelable operating leases
(including certain aircraft under Contract Carrier agreements) with initial or remaining terms in excess of one year:
Capital Leases
Years Ending December 31,
(in millions) Total
2012 $ 221
2013 196
2014 168
2015 155
2016 163
Thereafter 323
Total minimum lease payments 1,226
Less: amount of lease payments representing interest (489)
Present value of future minimum capital lease payments 737
Plus: unamortized premium, net (6)
Less: current obligations under capital leases (117)
Long-term capital lease obligations $ 614
Operating Leases
Years Ending December 31,
(in millions) Delta Lease Payments (1) Contract Carrier Aircraft Lease Payments(2) Total
2012 $ 926 $ 536 $ 1,462
2013 912 529 1,441
2014 862 518 1,380
2015 765 506 1,271
2016 677 449 1,126
Thereafter 6,660 928 7,588
Total minimum lease payments $ 10,802 $ 3,466 $ 14,268
(1) Includes payments accounted for as construction obligations. See Note 4.
(2) Represents the minimum lease obligations under our Contract Carrier agreements with ExpressJet Airlines, Inc. (formerly Atlantic Southeast Airlines, Inc.), Chautauqua Airlines, Inc.
(“Chautauqua”), Compass, Mesaba, Pinnacle, Shuttle America Corporation (“Shuttle America”) and SkyWest Airlines, Inc.
At December 31, 2011, we and our wholly-owned subsidiary Comair operated 111 aircraft under capital leases and 90 aircraft under operating leases. Our
Contract Carriers under capacity purchase agreements (excluding Comair) operated 550 aircraft under operating leases.
NOTE 9. PURCHASE COMMITMENTS AND CONTINGENCIES
Aircraft Purchase Commitments
Future aircraft purchase commitments at December 31, 2011 are estimated to total approximately $6.8 billion and include 100 B-737-900ER aircraft, 18
B-787-8 aircraft and nine previously owned MD-90 aircraft. The following table shows the timing of these commitments:
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