26. COMMITMENTS  Operating leases Finance leases Service contracts - 78 - The  Corporation has service contract commitments essentially for transportation and IT, with varying terms through 2020  and no  renewal  option.  Future minimum payments under these service contracts will  be  as follows: The  Corporation has finance lease commitments, with varying terms through 2036 and three to seven five-year renewal  options,  to lease premises used for business purposes. The Corporation does not have an option to purchase the leased  assets when the leases expire. Future minimum lease payments under these finance leases and the present value of  net  minimum lease  payments  will  be  as follows: In  addition, the Corporation has committed to leases for premises, with varying terms through 2035 and one to 15 five- year  lease renewal options, which it sublets to clients generally under the same terms and conditions. Future minimum  lease payments  under these operating  leases will be  as follows: The Corporation has operating lease commitments, with varying terms through 2037 and one to 14 five-year renewal  options, to lease premises and equipment used for business purposes. The Corporation does not have an option to  purchase  the leased assets when the leases expire, but it has the right of first refusal in certain cases. Future minimum  lease payments  under these operating  leases will be  as follows: 2014  2013 Under 1 year 172.5  171.5 Between 1 and 5 years 590.6  554.4 Over 5 years 495.3  551.7 1,258.4  1,277.6 2014  2013 Under 1 year 43.3  41.3 Between 1 and 5 years 156.5  145.9 Over 5 years 236.5  240.7 436.3  427.9 Minimum lease payments Present value of  minimum lease payments 2014  2013  2014  2013 Under 1 year  6.7  6.8  4.0  3.8 Between 1 and 5 years  22.3  22.9  14.6  13.8 Over 5 years  25.7  30.1  18.3  21.4 Minimum lease payments  54.7  59.8  36.9  39.0 Future finance costs  (17.8)  (20.8)  —  — Present value of minimum lease payments  36.9  39.0  36.9  39.0 2014  2013 Under 1 year 79.0  67.1 Between 1 and 5 years 233.6  226.0 Over 5 years 26.2  76.6 338.8 369.7 Notes to consolidated financial statements  September 27, 2014 and September 28, 2013 (Millions of dollars, unless otherwise indicated)