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 Railway Labor Act 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.