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Commitments | 6 Months Ended
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Nov. 30, 2017
Commitments [Abstract] |
Commitments | (7) Commitments As of November 30, 2017, our purchase commitments under various contracts for the remainder of 2018 and annually thereafter were as follows (in millions):
|  | Aircraft and Aircraft-Related |  |  | Other(1) |  |  | Total |
2018 (remainder) |  | $ | 870 |  |  | $ | 469 |  |  | $ | 1,339 |
2019 |  |  | 1,723 |  |  |  | 679 |  |  |  | 2,402 |
2020 |  |  | 1,965 |  |  |  | 525 |  |  |  | 2,490 |
2021 |  |  | 1,488 |  |  |  | 386 |  |  |  | 1,874 |
2022 |  |  | 1,451 |  |  |  | 235 |  |  |  | 1,686 |
Thereafter |  |  | 3,334 |  |  |  | 499 |  |  |  | 3,833 |
Total |  | $ | 10,831 |  |  | $ | 2,793 |  |  | $ | 13,624 |
| (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 November 30, 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 second quarter of 2018, FedEx Express entered into an agreement to purchase 50 Cessna SkyCourier 408 aircraft with options to purchase up to 50 additional Cessna SkyCourier 408 aircraft. The 50 firm-order Cessna SkyCourier 408 aircraft are expected to be delivered from fiscal 2021 through 2024. During the second quarter of 2018, FedEx Express entered into an agreement to purchase 30 ATR 72-600F aircraft with options to purchase up to 20 additional ATR 72-600F aircraft. The 30 firm-order ATR 72-600F aircraft are expected to be delivered from fiscal 2021 through 2026. We had $684 million in deposits and progress payments as of November 30, 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 November 30, 2017 with the year of expected delivery:
|  | Cessna SkyCourier 408 |  |  | ATR 72-600F |  |  | B767F |  |  | B777F |  |  | Total |
2018 (remainder) |  |  | - |  |  |  | - |  |  |  | 8 |  |  |  | 1 |  |  |  | 9 |
2019 |  |  | - |  |  |  | - |  |  |  | 15 |  |  |  | 2 |  |  |  | 17 |
2020 |  |  | - |  |  |  | - |  |  |  | 16 |  |  |  | 3 |  |  |  | 19 |
2021 |  |  | 12 |  |  |  | 5 |  |  |  | 10 |  |  |  | 3 |  |  |  | 30 |
2022 |  |  | 12 |  |  |  | 6 |  |  |  | 10 |  |  |  | 4 |  |  |  | 32 |
Thereafter |  |  | 26 |  |  |  | 19 |  |  |  | 6 |  |  |  | - |  |  |  | 51 |
Total |  |  | 50 |  |  |  | 30 |  |  |  | 65 |  |  |  | 13 |  |  |  | 158 |
A summary of future minimum lease payments under noncancelable operating leases with an initial or remaining term in excess of one year at November 30, 2017 is as follows (in millions):
|  | Aircraft and Related Equipment |  |  | Facilities and Other |  |  | Total Operating Leases |
2018 (remainder) |  | $ | 335 |  |  | $ | 1,113 |  |  | $ | 1,448 |
2019 |  |  | 343 |  |  |  | 2,014 |  |  |  | 2,357 |
2020 |  |  | 261 |  |  |  | 1,799 |  |  |  | 2,060 |
2021 |  |  | 203 |  |  |  | 1,623 |  |  |  | 1,826 |
2022 |  |  | 185 |  |  |  | 1,464 |  |  |  | 1,649 |
Thereafter |  |  | 175 |  |  |  | 8,746 |  |  |  | 8,921 |
Total |  | $ | 1,502 |  |  | $ | 16,759 |  |  | $ | 18,261 |
Future minimum lease payments under capital leases were immaterial at November 30, 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 440 -URI http://asc.fasb.org/topic&trid=2144648 + Details
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