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Inventories and Equipment on Operating Leases, Net
 12 Months Ended
Dec. 31, 2022
Inventories and Equipment on Operating Leases, Net [Abstract]  
Inventories and Equipment on Operating Leases, Net Inventories and Equipment on Operating Leases, Net
The following is a summary of Inventories by major category:
December 31,
20222021
Finished goods$640 $568 
Work-in-process45 43 
Raw materials112 85 
Total Inventories$797 $696 
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 lease and similar arrangements consists of our equipment rented to customers and depreciated to estimated salvage value at the end of the lease term.
Equipment on operating leases and the related accumulated depreciation were as follows:
December 31,
 20222021
Equipment on operating leases$1,163 $1,266 
Accumulated depreciation(928)(1,013)
Equipment on operating leases, net$235 $253 
Depreciable lives generally vary from four 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,
20222021
2022$202 
2023$185 110 
202495 61 
202559 32 
202630 10 
202713 
Thereafter4 2 
Total$386 $417 
Total contingent rentals on operating leases, consisting principally of usage charges in excess of minimum contracted amounts, for the years ended December 31, 2022, 2021 and 2020 amounted to $63, $62 and $66, respectively.
Secured Borrowings and Collateral
In 2021, we sold the rights to payments under operating leases to a consolidated special purpose entity included in our Consolidated Balance Sheet as collateral for a secured loan.
Refer to Note 15 - Debt, for additional information related to this arrangement.