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Equipment on Operating Leases
 9 Months Ended
Sep. 30, 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.
September 30, 2024December 31, 2023
Equipment on operating leases$37,549 $37,921 
Less: accumulated depreciation(6,593)(7,338)
Equipment on operating leases, net$30,956 $30,582 

The estimated residual value of our leased assets at the end of the lease term was $23.0 billion and $22.7 billion at September 30, 2024 and December 31, 2023.

Depreciation expense related to Equipment on operating leases, net was $1.2 billion in the three months ended September 30, 2024 and 2023 and $3.6 billion and $3.7 billion in the nine months ended September 30, 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$1,411 $4,746 $2,849 $842 $70 $1 $9,920