8- I/A Table of Contents FIRST DATA CORPORATION NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) Note 9: Commitments and Contingencies Operating Leases The Company leases certain of its facilities and equipment under operating lease agreements, substantially all of which contain renewal options and escalation provisions. The following table presents the amounts associated with total rent expense for operating leases: fear ended December 31, (in millions) Amount 2014 $ 77 2013 76 2012 72 Future minimum aggregate rental commitments as of December 31, 2014 under all noncancelable operating leases, net of sublease income are due in the following years: Year ended December 31, (In millions) Amount 2015 $ 60 2016 54 2017 43 2018 37 2019 32 Thereafter 77 Total $ 303 Sublease income is earned from leased space and leased equipment which FDC concurrently subleases to third parties with comparable time periods. As of December 31. 2014, sublease amounts totaled $5 million in FDC obligations. In addition, the Company has certain guarantees imbedded in leases and other agreements wherein the Company is required to relieve the countaparty in the event of changes in the tax code or rates. The Company believes the fair value of such guarantees is insignificant due to the likelihood and extent of the potential changes. Letters of Credit The Company has $43 million in outstanding letters of credit as of December 31. 2014. all of which were issued under the Company's senior secured revolving credit facility and expire prior to December 10, 2015 with a one-year renewal option. The letters of credit are held in connection with lease arrangements, bankcaid association agreements. and other security agreements. The Company expects to renew most of the letters of credit prior to expiration. Contingencies The Company is involved in various legal proceedings. Accruals have been made with respect to thew matters, where appropriate, which are reflected in the Company's consolidated financial statements. The Company may enter into discussions regarding settlement of these matters, and may enter into settlement agreements, if it believes settlement is in the best interest of the Company. The matters discussed below, if decided adversely to or settled by the Company. individually or in the aggregate, may remit in liability material to the Company's financial condition and/or results of operations. F-37 http://voww.see.gov/Archives/cdgar/datan83980/000119312515334479/d31022dsla.html10/14/2015 9:06:38 AM] CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) CONFIDENTIAL DB-SDNY-0082301 SONY GM_00228485 EFTA01382805