As of February 28, 2021, our purchase commitments under various contracts for the remainder of 2021 and annually thereafter were as follows (in millions):

	Aircraft and Related		Other⁽¹⁾		Total
2021 (remainder)	$	162	$	299	$	461
2022		2,211		754		2,965
2023		2,397		520		2,917
2024		1,002		333		1,335
2025		479		249		728
Thereafter		2,803		454		3,257
Total	$	9,054	$	2,609	$	11,663

The amounts reflected in the table above for purchase commitments represent noncancelable agreements to purchase goods or services. As of February 28, 2021, our obligation to purchase 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 first quarter of 2021, FedEx Express executed a contract amendment rescheduling Boeing 767-300 Freighter (“B767F”) aircraft deliveries as follows: 2021 – 18 aircraft; 2022 – 11 aircraft; 2023 – 13 aircraft; and 2024 – 4 aircraft.

As of February 28, 2021, we had $983 million in deposits and progress payments on aircraft purchases and other planned aircraft-related transactions. These deposits are classified in the “Other assets” caption of our accompanying unaudited condensed consolidated balance sheets. Aircraft and 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, 2021 with the year of expected delivery:

	Cessna SkyCourier 408		ATR 72-600F		B767F		B777F		Total
2021 (remainder)		—		2		7		—		9
2022		9		8		11		5		33
2023		12		6		13		2		33
2024		12		6		4		4		26
2025		12		6		—		2		20
Thereafter		5		1		—		—		6
Total		50		29		35		13		127

A summary of future minimum lease payments under noncancelable operating and finance leases with an initial or remaining term in excess of one year at February 28, 2021 is as follows (in millions):

	Aircraft and Related Equipment			Facilities and Other			Total Operating Leases			Finance Leases			Total Leases
2021 (remainder)	$	31		$	478		$	509		$	10		$	519
2022		234			2,390			2,624			107			2,731
2023		198			2,107			2,305			26			2,331
2024		102			1,844			1,946			25			1,971
2025		69			1,619			1,688			24			1,712
Thereafter		245			8,230			8,475			707			9,182
Total lease payments		879			16,668			17,547			899			18,446
Less imputed interest		(71	)		(2,353	)		(2,424	)		(373	)		(2,797	)
Present value of lease liability	$	808		$	14,315		$	15,123		$	526		$	15,649

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.

As of February 28, 2021, FedEx has entered into additional leases which have not yet commenced and are therefore not part of the right-of-use asset and liability. These leases are generally for build-to-suit facilities and have undiscounted future payments of approximately $1.7 billion, and will commence when FedEx gains beneficial access to the leased asset. Commencement dates are expected to be from 2021 to 2022.