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Equipment on Operating Leases
 9 Months Ended
Sep. 30, 2021
Vehicles  
Lessor, Lease, Description [Line Items]  
Equipment on Operating Leases Equipment on Operating Leases
Equipment on operating leases consists of leases to retail customers of GM Financial.
September 30, 2021December 31, 2020
Equipment on operating leases$49,263 $50,000 
Less: accumulated depreciation(9,606)(10,181)
Equipment on operating leases, net$39,657 $39,819 
The estimated residual value of our leased assets at the end of the lease term was $29.6 billion and $29.2 billion at September 30, 2021 and December 31, 2020.

Depreciation expense related to Equipment on operating leases, net was $1.6 billion and $1.8 billion in the three months ended September 30, 2021 and 2020 and $4.8 billion and $5.5 billion in the nine months ended September 30, 2021 and 2020.

The following table summarizes lease payments due to GM Financial on leases to retail customers:
Year Ending December 31,
20212022202320242025ThereafterTotal
Lease receipts under operating leases$1,660 $5,369 $3,129 $870 $60 $— $11,088