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Commitments | 9 Months Ended
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Feb. 29, 2016
Commitments [Abstract] |
Commitments | (7) Commitments As of February 29, 2016, our purchase commitments under various contracts for the remainder of 2016 and annually thereafter were as follows (in millions):
|  | Aircraft and |  |  |  |  |  |
|  | Aircraft-Related |  | Other(1) |  | Total |
2016 (remainder) | $ | 94 |  | $ | 151 |  | $ | 245 |
2017 |  | 1,283 |  |  | 291 |  |  | 1,574 |
2018 |  | 1,748 |  |  | 173 |  |  | 1,921 |
2019 |  | 1,569 |  |  | 78 |  |  | 1,647 |
2020 |  | 1,633 |  |  | 26 |  |  | 1,659 |
Thereafter |  | 5,779 |  |  | 102 |  |  | 5,881 |
Total | $ | 12,106 |  | $ | 821 |  | $ | 12,927 |
(1) | Primarily equipment and advertising contracts.
The amounts reflected in the table above for purchase commitments represent noncancelable agreements to purchase goods or services. As of February 29, 2016, our obligation to purchase five Boeing 767-300 Freighter (“B767F”) aircraft and nine Boeing 777 Freighter (“B777F”) aircraft is conditioned upon there being no event that causes FedEx Express or its employees not to be covered by the R ailway L abor A ct of 1926, as amended. Open purchase orders that are cancelable are not considered unconditional purchase obligations for financial reporting purposes and are not included in the table above. We had $363 million in deposits and progress payments as of February 29, 2016 on aircraft purchases and other planned aircraft-related transactions. These deposits are classified in the “Other assets” caption of our consolidated balance sheets. Aircraft and aircraft-related contracts are subject to price escalations. The following table is a summary of the key aircraft we are committed to purchase as of February 29, 2016 with the year of expected delivery:
|  |  | B767F |  | B777F |  | Total |
2016 (remainder) |  | 1 |  | - |  | 1 |
2017 |  | 12 |  | - |  | 12 |
2018 |  | 16 |  | 2 |  | 18 |
2019 |  | 13 |  | 2 |  | 15 |
2020 |  | 12 |  | 3 |  | 15 |
Thereafter |  | 26 |  | 9 |  | 35 |
Total |  | 80 |  | 16 |  | 96 |
A summary of future minimum lease payments under noncancelable operating leases with an initial or remaining term in excess of one year at February 29, 2016 is as follows (in millions):
|  |  | Operating Leases |
|  |  | Aircraft |  |  |  |  | Total |
|  |  | and Related |  | Facilities |  | Operating |
|  |  | Equipment |  | and Other |  | Leases |
2016 (remainder) | $ | 84 |  | $ | 691 |  | $ | 775 |
2017 |  | 403 |  |  | 1,980 |  |  | 2,383 |
2018 |  | 332 |  |  | 1,583 |  |  | 1,915 |
2019 |  | 274 |  |  | 1,396 |  |  | 1,670 |
2020 |  | 190 |  |  | 1,231 |  |  | 1,421 |
Thereafter |  | 360 |  |  | 7,711 |  |  | 8,071 |
Total | $ | 1,643 |  | $ | 14,592 |  | $ | 16,235 |
Future minimum lease payments under capital leases were immaterial at February 29, 2016. While certain of our lease agreements contain covenants governing the use of the leased assets or require us to maintain certain levels of insurance, none of our lease agreements include material financial covenants or limitations.

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- Definition The entire disclosure for significant arrangements with third parties, which includes operating lease arrangements and arrangements in which the entity has agreed to expend funds to procure goods or services, or has agreed to commit resources to supply goods or services, and operating lease arrangements. Descriptions may include identification of the specific goods and services, period of time covered, minimum quantities and amounts, and cancellation rights. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03.17) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03.(a)(19)) -URI http://asc.fasb.org/extlink&oid=6879938&loc=d3e572229-122910 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.25) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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