As of August 31, 2020, 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)	$	1,180	$	782	$	1,962
2022		2,166		670		2,836
2023		2,423		460		2,883
2024		1,015		302		1,317
2025		621		226		847
Thereafter		2,716		397		3,113
Total	$	10,121	$	2,837	$	12,958

The amounts reflected in the table above for purchase commitments represent noncancelable agreements to purchase goods or services. As of August 31, 2020, 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 August 31, 2020, we had $632 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 August 31, 2020 with the year of expected delivery:

	Cessna SkyCourier 408		ATR 72-600F		B767F		B777F		Total
2021 (remainder)		—		4		13		—		17
2022		9		7		11		5		32
2023		12		6		13		2		33
2024		12		6		4		4		26
2025		12		6		—		2		20
Thereafter		5		1		—		—		6
Total		50		30		41		13		134

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 August 31, 2020 is as follows (in millions):

	Aircraft and Related Equipment			Facilities and Other			Total Operating Leases			Finance Leases			Total Leases
2021 (remainder)	$	200		$	1,661		$	1,861		$	48		$	1,909
2022		229			2,120			2,349			27			2,376
2023		198			1,905			2,103			25			2,128
2024		102			1,672			1,774			24			1,798
2025		69			1,466			1,535			24			1,559
Thereafter		258			7,335			7,593			706			8,299
Total lease payments		1,056			16,159			17,215			854			18,069
Less imputed interest		(85	)		(2,392	)		(2,477	)		(381	)		(2,858	)
Present value of lease liability	$	971		$	13,767		$	14,738		$	473		$	15,211

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 August 31, 2020, 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 $1.1 billion, and will commence when FedEx gains beneficial access to the leased asset. Commencement dates are expected to be from 2021 to 2022.