Snapple 2014 Annual Report Download - page 104

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DR PEPPER SNAPPLE GROUP, INC.
NOTES TO AUDITED CONSOLIDATED FINANCIAL STATEMENTS
(Continued)
101
19. Supplemental Cash Flow Information
The following table details supplemental cash flow disclosures of non-cash investing and financing activities for the years
ended December 31, 2014, 2013 and 2012 (in millions):
For the Year Ended December 31,
2014 2013 2012
Supplemental cash flow disclosures of non-cash investing and
financing activities:
Dividends declared but not yet paid $ 79 $ 75 $ 70
Capital expenditures included in accounts payable and other current
liabilities 11 21 27
Holdback liability for acquisition of business 2— —
Stock issued for acquisition of business —13 —
Capital lease additions(1) 31 1 49
Supplemental cash flow disclosures:
Interest paid $ 94 $ 107 $ 115
Income taxes paid 345 310 724
__________________________
(1) The Company converted a number of month-to-month operating leases into capital leases which is presented as a non-cash
financing activity.
20. Leases
The Company has leases for certain facilities, fleet and equipment which expire at various dates through 2029. Some lease
agreements contain standard renewal provisions that allow us to renew the lease at rates equivalent to fair market value at the end
of the lease term. Under lease agreements that contain escalating rent provisions, operating lease expense is recorded on a straight-
line basis over the lease term. Under lease agreements that contain rent holidays, rent expense is recorded on a straight-line basis
over the entire lease term, including the period covered by the rent holiday. Operating lease expense was $69 million, $76 million
and $80 million for each of the years ended December 31, 2014, 2013 and 2012.
Future minimum lease payments under operating leases with initial or remaining noncancellable lease terms in excess of one
year and capital leases as of December 31, 2014 are as follows (in millions):
Operating
Leases Capital
Leases
2015 $ 47 $ 11
2016 40 11
2017 32 11
2018 24 11
2019 21 10
Thereafter 75 167
Total minimum lease payments $ 239 221
Less imputed interest (135)
Present value of minimum lease payments $ 86