NOTE 18 Commitments, Guarantees and Contingent Liabilities We lease offi ce space, plants and facilities, and various types of  manufacturing, data processing and transportation equipment. Leases  of real estate generally provide for our payment of property taxes,  insurance and repairs. Capital leases are not significant. Rent expense  under operating leases amounted to $18.8 million, $18.9 million and  $15.8 million in 2010, 2009 and 2008, respectively. Rent expense is  net of credits (received for the use of leased transportation assets) of  $21.9 million, $19.8 million and $24.3 million in 2010, 2009 and  2008, respectively. Minimum future rentals under noncancelable leases are estimated to  be payable as follows: $25.7 million in 2011, $22.6 million in 2012,  $21.9 million in 2013, $19.5 million in 2014, $21.8 million in 2015  and $27.0 million thereafter. Minimum future rentals for transportation  The following table provides the estimated undiscounted amount of  potential future payments for each major group of guarantees: Our minimum commitments under our take-or-pay purchase obligations  associated with the sourcing of materials and energy total approximately  $95.8 million. Since the majority of our minimum obligations under  these contracts are over the life of the contract as opposed to a year- by-year basis, we are unable to determine the periods in which these  obligations could be payable under these contracts. However, we intend  to fulfi ll the obligations associated with these contracts through our  purchases associated with the normal course of business. assets included above aggregated approximately $95.6 million, against  which we expect to continue to receive credits to substantially defray  our rental expense. (in Millions) December 31, 2010 Guarantees: Guarantees of vendor fi nancing $24.1 Foreign equity method investment and other debt guarantees 6.2 TOTAL $30.3 Contingencies Other Commitments We provide guarantees to fi nancial institutions on behalf of certain  Agricultural Products customers, principally in Brazil, for their  seasonal borrowing. The total of these guarantees was $24.1 million  and $49.5 million at December 31, 2010 and 2009, respectively,  and are recorded on the consolidated balance sheets for each date as  “Guarantees of vendor fi nancing”. The higher level of guarantees at  December 31, 2009 compared with December 31, 2010 arose from a  greater borrowing need of our Brazilian sugar cane customers in 2009. We guarantee repayment of some of the borrowings of certain foreign  affi liates accounted for using the equity method for investments. As of  December 31, 2010, these guarantees had maximum potential payments  of $6.2 million, compared to $5.8 million at December 31, 2009. In connection with our property and asset sales and divestitures, we  have agreed to indemnify the buyer for certain liabilities, including  environmental contamination and taxes that occurred prior to the date  of sale. Our indemnification obligations with respect to these liabilities  may be indefi nite as to duration and may or may not be subject to a  deductible, minimum claim amount or cap. As such, it is not possible  for us to predict the likelihood that a claim will be made or to make a  reasonable estimate of the maximum potential loss or range of loss. If  triggered, we may be able to recover certain of the indemnity payments  from third parties. We have not recorded any specific liabilities for  these guarantees. On January 28, 2005, we and our wholly owned subsidiary Foret  received a Statement of Objections from the European Commission  concerning alleged violations of competition law in the hydrogen  peroxide business in Europe during the period 1994 to 2001. All of  the significant European hydrogen peroxide producers also received the  Statement of Objections. We and Foret responded to the Statement of  Objections in April 2005 and a hearing on the matter was held at the end  of June 2005. On May 3, 2006, we received a notice from the European  Commission indicating that the European Commission had imposed  a fi ne on us and Foret in the aggregate amount of €25.0 million as a  result of alleged violations during the period 1997-1999. In connection  with this fine, we recorded an expense of $30.0 million (refl ecting then- prevailing exchange rates) in our consolidated statements of income  for the year ended December 31, 2006. This expense was included as  a component of “Restructuring and other charges (income)”. Both we  and Foret have appealed the decision of the European Commission.  The Foret appeal was argued before the Court of First Instance on  March 4, 2010, but no decision has been rendered. The FMC appeal  was argued in May of 2010. During the appeal process, interest  accrues on the fi ne, which as of December 31, 2010, was at a rate of  4.0 percent per annum. We have provided a bank letter of credit in  favor of the European Commission to guarantee our payment of the  fi ne and accrued interest. At December 31, 2010, the amount of the  letter of credit was €30.5 million (U.S. $41.2 million). PART II  NOTE 18 Commitments, Guarantees and Contingent Liabilities 68 FMC CORPORATION    2010 Form 10K