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Total costs incurred for the elements of the T5 Project were $637 million, of which $561 million is classified as Assets Constructed for Others and the remaining $76 million is classified as leasehold improvements in our consolidated balance sheets. Assets Constructed for Others are being amortized over the shorter of the 25 years non-cancelable lease term or their economic life. We recorded amortization expense of $23 million in each of 2013 and 2012, and $22 million in 2011. 

The PANYNJ has reimbursed us for the amounts currently included in Assets Constructed for Others. These reimbursements and related interest are reflected as Construction Obligation in our consolidated balance sheets. When the facility rents are paid they are treated as a debt service on the Construction Obligation, with the portion not relating to interest reducing the principal balance. Minimum estimated facility payments including escalations associated with the facility lease are estimated to be $40 million per year in 2014 through 2018 and $616 million thereafter. The portion 

## NOTE 5 Stockholders’ Equity 

In September 2012, our Board of Directors authorized a share repurchase program for up to 25 million shares of common stock over a five year period. The repurchases may be commenced or suspended from time to time without prior notice. During the fourth quarter of 2012, we repurchased approximately 4.1 million shares of our common stock for approximately $23 million. During 2013 we repurchased approximately 0.5 million shares of our common stock for approximately $3 million. The shares repurchased under our share repurchase program were purchased in open market transactions. As of December 31, 2013, 20.4 million shares remain available for repurchase under the program. 

## NOTE 6 Earnings Per Share 

of these scheduled payments serving to reduce the principal balance of the Construction Obligation is $14 million in 2014, $15 million in each of 2015 and 2016, $16 million in 2017 and $17 million in 2018. Payments could exceed these amounts depending on future enplanement levels at JFK. Scheduled facility payments representative of interest totaled $27 million, $27 million and $28 million in 2013, 2012 and 2011, respectively. 

We sublease portions of T5, including space for concessionaires, our service provider for the airspace lounge and the TSA. Two of our airline commercial partners operate from this terminal and sublease facilities from us, Hawaiian Airlines and Aer Lingus. Minimum lease payments due to us are subject to various escalation amounts through 2021. Future minimum lease payments due to us during each of the next five years are estimated to be $12 million per year in each of 2014 through 2016, $10 million in 2017 and $9 million in 2018. 

As of December 31, 2013, we had a total of 168.9 million shares of our common stock reserved for issuance related to our equity incentive plans, our convertible debt, and our share lending facility. As of December 31, 2013, we had a total of 50.9 million shares of treasury stock, the majority of which resulted from the return of borrowed shares under our share lending agreement and also include shares repurchased under our share repurchase program described above. Refer to Note 2 for further details on the share lending agreement and Note 7 for further details on our share-based compensation. 

The following table shows how we computed basic and diluted earnings per common share for the years ended December 31 (dollars in millions; share data in thousands): 

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As of December 31, 2013, a total of approximately 1.4 million shares of our common stock, which were lent to our share borrower pursuant to the terms of our share lending agreement as described in Note 2, were issued and outstanding for corporate law purposes. Holders of the borrowed shares have all the rights of a holder of our common stock. However, because 

the share borrower must return all borrowed shares to us (or identical shares or, in certain circumstances of default by the counterparty, the cash value thereof), the borrowed shares are not considered outstanding for the purpose of computing and reporting basic or diluted earnings per share. 

