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We have two outsourcing agreements with information technology and data services companies to provide application
maintenance and development services for our Japanese operation. The first agreement has a remaining term of three
years with an aggregate remaining cost of 6.1 billion yen ($53 million using the December 31, 2016, exchange rate). The
second agreement has a remaining term of one year with an aggregate remaining cost of 740 million yen ($6 million using
the December 31, 2016, exchange rate).
As of December 31, 2016, we have commitments of $779 million to fund potential future loan originations related to
our investment in middle market loans. These commitments are contingent upon the availability of middle market loans
that meet our underwriting criteria. In addition, we had commitments of $19 million to fund potential future loan
originations related to our investment in commercial mortgage loans. These commitments are contingent on the final
underwriting and due diligence to be performed and may or may not be funded. See Note 3 of the Notes to the
Consolidated Financial Statements for more details on these investment programs.
We lease office space and equipment under agreements that expire in various years through 2026. Future minimum
lease payments due under non-cancelable operating leases at December 31, 2016, were as follows:
(In millions)
2017
$ 62
2018
41
2019
18
2020
13
2021
11
Thereafter
0
Total future minimum lease payments
$145
We are a defendant in various lawsuits considered to be in the normal course of business. Members of our senior
legal and financial management teams review litigation on a quarterly and annual basis. The final results of any litigation
cannot be predicted with certainty. Although some of this litigation is pending in states where large punitive damages,
bearing little relation to the actual damages sustained by plaintiffs, have been awarded in recent years, we believe the
outcome of pending litigation will not have a material adverse effect on our financial position, results of operations, or cash
flows.
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16. UNAUDITED CONSOLIDATED QUARTERLY FINANCIAL DATA
In management's opinion, the following quarterly financial information fairly presents the results of operations for such
periods and is prepared on a basis consistent with our annual audited financial statements.