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Equipment on Operating Leases
 3 Months Ended
Mar. 31, 2024
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.
March 31, 2024December 31, 2023
Equipment on operating leases$37,119 $37,921 
Less: accumulated depreciation(7,013)(7,338)
Equipment on operating leases, net$30,106 $30,582 
The estimated residual value of our leased assets at the end of the lease term was $22.4 billion and $22.7 billion at March 31, 2024 and December 31, 2023.

Depreciation expense related to Equipment on operating leases, net was $1.2 billion in the three months ended March 31, 2024 and 2023.

The following table summarizes lease payments due to GM Financial on leases to retail customers:
Year Ending December 31,
20242025202620272028ThereafterTotal
Lease receipts under operating leases$3,793 $3,651 $1,758 $253 $9 $1 $9,464