United Airlines 2012 Annual Report Download - page 136

Table of Contents
At December 31, 2012, the Company’s scheduled future minimum lease payments under operating leases having initial or remaining noncancelable lease
terms of more than one year, aircraft leases, including aircraft rent under capacity purchase agreements and capital leases (substantially all of which are for
aircraft) were as follows (in millions):
  

2013 $ 1,543 $ 647 $ 905
2014 1,466 595 878
2015 1,198 417 783
2016 960 246 714
2017 861 179 682
After 2017 1,491 213 1,278
$ 7,519 $ 2,297 $ 5,240

2013 $ 1,108 $ 713 $ 395
2014 955 586 369
2015 816 460 356
2016 744 418 326
2017 696 411 285
After 2017 5,376 1,926 3,450
$ 9,695 $ 4,514 $ 5,181

2013 $ 214 $ 197 $ 17
2014 197 182 15
2015 177 162 15
2016 164 149 15
2017 120 109 11
After 2017 582 238 344
Minimum lease payments $ 1,454 $ 1,037 $ 417
Imputed interest (540) (300) (240)
Present value of minimum lease payments 914 737 177
Current portion (122) (119) (3)
Long-term obligations under capital leases $ 792 $ 618 $ 174
(a) As of December 31, 2012, United’s aircraft capital lease minimum payments relate to leases of 49 mainline and 38 regional aircraft and Continental’s capital lease minimum payments relate to nonaircraft
assets. United’s and Continental’s imputed interest rate ranges are 3.3% to 20.0% and 5.0% to 8.4%, respectively.
(b) The operating lease payments presented above include United’s and Continental’s future payments of $2 million and $128 million, respectively, related to nonoperating aircraft as of December 31, 2012.
United and Continental have two and 23 nonoperating aircraft subject to leases, respectively. United’s regional carrier, Express Jet, subleases aircraft from Continental; UAL operating lease payments
exclude payments related to these aircraft.
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