Leases and Capacity Purchase Agreements (Tables)

12 Months Ended

Dec. 31, 2018

Future Minimum Lease Payments for Capital and Operating Leases

At December 31, 2018, United's scheduled future minimum lease payments under operating leases having initial or remaining noncancelable lease terms of more than one year, aircraft leases, including aircraft rent under CPAs and capital leases (substantially all of which are for aircraft) were as follows (in millions):



	Capital Leases (b)			Facility and Other Operating Leases		Aircraft Operating Leases
2019	$	308		$	1,330	$	845
2020	170			1,351		682
2021	147			1,107		583
2022	123			970		407
2023	104			953		379
After 2023	1,268			7,029		1,160
Minimum lease payments (a)	$	2,120		$	12,740	$	4,056
Imputed interest	(837		)
Present value of minimum lease payments	1,283
Current portion	(149		)
Long-term obligations under capital leases	$	1,134

(a) Includes fair value lease and deferred financing fee balances, which are being amortized over the terms of their respective leases.

(b) Includes airport construction projects managed by United in which United has construction risk, including project cost overruns. The Company recorded an asset for project costs and a related liability equal to project costs funded by parties other than United. As of December 31, 2018, United had an asset balance of $886 million recorded in operating property and equipment and $920 million recorded in current and long-term obligations under capital leases for these airport construction projects.

Future Lease Payment Under Terms of Capacity Purchase Agreement

Based on these assumptions as of December 31, 2018, our future payments through the end of the terms of our CPAs are presented in the table below (in billions):



2019	$	2.2
2020	2.0
2021	1.8
2022	1.4
2023	0.8
After 2023	3.1
	$	11.3