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Equipment on Operating Leases
3 Months Ended
Mar. 31, 2025
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, 2025December 31, 2024
Equipment on operating leases$38,805 $38,187 
Less: accumulated depreciation(6,566)(6,601)
Equipment on operating leases, net$32,239 $31,586 

The estimated residual value of our leased assets at the end of the lease term was $23.8 billion and $23.5 billion at March 31, 2025 and December 31, 2024.

Depreciation expense related to Equipment on operating leases, net was $1.2 billion in the three months ended March 31, 2025 and 2024.

The following table summarizes lease payments due to GM Financial on leases to retail customers:
Year Ending December 31,
20252026202720282029ThereafterTotal
Lease receipts under operating leases$4,128 $3,951 $1,786 $267 $$— $10,138