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ITEM 8 / NOTE 16. CONTINGENCIES, COMMITMENTS AND GUARANTEES.....................................................................................................................................................................................coverages, insurance and risk management programs for large corporate customers and other customized structuredinsurance products, as well as excess and umbrella liability, directors and officers and products liability. Generally,actual historical loss development factors are used to project future loss development. However, there can be noassurance that future loss development patterns will be the same as in the past. Moreover, any deviation in loss costtrends or in loss development factors might not be identified for an extended period of time subsequent to therecording of the initial loss reserve estimates for any accident year. There is the potential for reserves with respect toa number of years to be significantly affected by changes in loss cost trends or loss development factors that wererelied upon in setting the reserves. These changes in loss cost trends or loss development factors could beattributable to changes in economic conditions in the United States and abroad, changes in the legal, regulatory,judicial and social environment, changes in medical cost trends (inflation, intensity and utilization of medical services),underlying policy pricing, terms and conditions, and claims handling practices.Lease Commitments..............................................................................................................................................................................................We occupy leased space in many locations under various long-term leases and have entered into various leasescovering the long-term use of data processing equipment.The following table presents the future minimum lease payments under operating leases:(in millions)2013 $ 3902014 2822015 2072016 1712017 138Remaining years after 2017 310Total $ 1,498Rent expense was $445 million, $482 million and $587 million for the years ended December 31, 2012, 2011and 2010, respectively. These amounts include $16 million, $37 million and $129 million attributable to discontinuedoperations for the years ended December 31, 2012, 2011 and 2010, respectively.Flight Equipment Related to Business Held for Sale..............................................................................................................................................................................................At December 31, 2012, ILFC had committed to purchase 229 new aircraft with aggregate estimated total remainingpayments of approximately $17.5 billion, including four aircraft through sale-leaseback transactions with airlinesdeliverable from 2012 through 2019. ILFC had also committed to purchase five used aircraft and nine new spareengines. ILFC also has the right to purchase an additional 50 Airbus A320neo family narrowbody aircraft. ILFC willbe required to find lessees for any aircraft acquired and to arrange financing for a substantial portion of the purchaseprice. These commitments are related to discontinued operations and will not be retained by AIG upon closing of thesale. See Note 4 herein, for a discussion of the ILFC transaction.The following table presents the minimum future rental income on noncancelable operating leases of flightequipment that has been delivered:(in millions)2013 $ 3,8542014 3,3442015 2,6312016 2,0012017 1,347Remaining years after 2017 1,628Total $ 14,805Flight equipment is leased under operating leases with remaining terms ranging from one to fourteen years...................................................................................................................................................................................................................................AIG 2012 Form 10-K 301