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Equipment on Operating Leases
 9 Months Ended
Sep. 30, 2023
Property, Plant, and Equipment, Lessor Asset under Operating Lease [Abstract]  
Equipment on Operating Leases Equipment on Operating Leases
Equipment on operating leases consists of leases to retail customers of GM Financial.
September 30, 2023December 31, 2022
Equipment on operating leases$38,777 $40,919 
Less: accumulated depreciation(7,716)(8,218)
Equipment on operating leases, net$31,061 $32,701 
The estimated residual value of our leased assets at the end of the lease term was $23.2 billion and $24.7 billion at September 30, 2023 and December 31, 2022.

Depreciation expense related to Equipment on operating leases, net was $1.2 billion in the three months ended September 30, 2023 and 2022 and $3.7 billion and $3.6 billion in the nine months ended September 30, 2023 and 2022.

The following table summarizes lease payments due to GM Financial on leases to retail customers:
Year Ending December 31,
20232024202520262027ThereafterTotal
Lease receipts under operating leases$1,415 $4,319 $2,554 $821 $63 $2 $9,172