Analyzing and Interpreting Footnote on Both Operating and Capital Leases Verizon Communications Inc. provides the following footnote relating to its leasing activities in its 10-K report. The aggregate minimum rental commitments under noncancelable leases for the periods shown at December 31, 2014, are: Capital Operating Leases Leases (in millions) $181 137 113 68 39 60 2015 2016 2017 2018 2019 Thereafter Total minimum rental commitments Less interest and executory costs Present value of minimum lease payments Less current installments Long-term obligation at December 31, 2014 $2,499 2,245 1,960 1,660 1,369 4,670 598 $14,403 82 516 158 $358