Inventories and Equipment on Operating Leases, Net

12 Months Ended

Dec. 31, 2019

Inventories and Equipment on Operating Leases, Net [Abstract]

Inventories and Equipment on Operating Leases, Net

The following is a summary of Inventories by major category:



	December 31,
	2019		2018
Finished goods	$	576	$	710
Work-in-process	47		49
Raw materials	71		70
Total Inventories	$	694	$	829

The transfer of equipment from our inventories to equipment subject to an operating lease is presented in our Consolidated Statements of Cash Flows in the operating activities section. Equipment on operating leases and similar arrangements consists of our equipment rented to customers and depreciated to estimated salvage value at the end of the lease term. Amounts disclosed below at December 31, 2018 were accounted for under ASC 840, Leases, which was superseded by ASC 842, Leases, adopted on January 1, 2019. Differences upon adoption were not material. Refer to Note 1 - Basis of Presentation and Summary of Significant Accounting Policies, Recent Accounting Pronouncements for additional information.

Equipment on operating leases and the related accumulated depreciation were as follows:



	December 31,
	2019			2018
Equipment on operating leases	$	1,443		$	1,519
Accumulated depreciation	(1,079		)	(1,077		)
Equipment on operating leases, net	$	364		$	442

Depreciable lives generally vary from three to five years consistent with our planned and historical usage of the equipment subject to operating leases. Estimated minimum future revenues associated with Equipment on operating leases are as follows:



	December 31,
	2019		2018
12 months	$	226	$	260
24 months	139		178
36 months	84		111
48 months	39		61
60 months	12		21
Thereafter	2		2
Total	$	502	$	633

Total contingent rentals on operating leases, consisting principally of usage charges in excess of minimum contracted amounts, for the years ended December 31, 2019, 2018 and 2017 amounted to $107, $120 and $119, respectively.