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Commitments | 9 Months Ended
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Feb. 28, 2017
Commitments [Abstract] |
Commitments | (7) Commitments As of February 28, 2017, our purchase commitments under various contracts for the remainder of 2017 and annually thereafter were as follows (in millions):
|  | Aircraft and Aircraft-Related |  |  | Other(1) |  |  | Total |
2017 (remainder) |  | $ | 219 |  |  | $ | 218 |  |  | $ | 437 |
2018 |  |  | 1,970 |  |  |  | 534 |  |  |  | 2,504 |
2019 |  |  | 1,730 |  |  |  | 375 |  |  |  | 2,105 |
2020 |  |  | 1,926 |  |  |  | 267 |  |  |  | 2,193 |
2021 |  |  | 1,348 |  |  |  | 183 |  |  |  | 1,531 |
Thereafter |  |  | 4,199 |  |  |  | 258 |  |  |  | 4,457 |
Total |  | $ | 11,392 |  |  | $ | 1,835 |  |  | $ | 13,227 |
(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 28, 2017, our obligation to purchase four Boeing 767-300 Freighter (“B767F”) aircraft and six 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. During the quarter, FedEx Express entered into agreements to accelerate the delivery of one B767F aircraft to 2017 from 2018 and two B777F aircraft to 2018 from 2023. We had $488 million in deposits and progress payments as of February 28, 2017 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 28, 2017 with the year of expected delivery:
|  | B767F |  |  | B777F |  |  | Total |
2017 (remainder) |  |  | 1 |  |  |  | - |  |  |  | 1 |
2018 |  |  | 15 |  |  |  | 4 |  |  |  | 19 |
2019 |  |  | 15 |  |  |  | 2 |  |  |  | 17 |
2020 |  |  | 16 |  |  |  | 3 |  |  |  | 19 |
2021 |  |  | 10 |  |  |  | 3 |  |  |  | 13 |
Thereafter |  |  | 16 |  |  |  | 4 |  |  |  | 20 |
Total |  |  | 73 |  |  |  | 16 |  |  |  | 89 |
A summary of future minimum lease payments under noncancelable operating leases with an initial or remaining term in excess of one year at February 28, 2017 is as follows (in millions):
|  | Operating Leases |
|  | Aircraft and Related Equipment |  |  | Facilities and Other |  |  | Total Operating Leases |
2017 (remainder) |  | $ | 70 |  |  | $ | 547 |  |  | $ | 617 |
2018 |  |  | 398 |  |  |  | 1,992 |  |  |  | 2,390 |
2019 |  |  | 343 |  |  |  | 1,799 |  |  |  | 2,142 |
2020 |  |  | 261 |  |  |  | 1,595 |  |  |  | 1,856 |
2021 |  |  | 203 |  |  |  | 1,441 |  |  |  | 1,644 |
Thereafter |  |  | 360 |  |  |  | 8,780 |  |  |  | 9,140 |
Total |  | $ | 1,635 |  |  | $ | 16,154 |  |  | $ | 17,789 |
Future minimum lease payments under capital leases were immaterial at February 28, 2017. 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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