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Equipment on Operating Leases
3 Months Ended
Mar. 31, 2022
Vehicles  
Lessor, Lease, Description [Line Items]  
Equipment on Operating Leases Equipment on Operating Leases
Equipment on operating leases consists of leases to retail customers of GM Financial.
March 31, 2022December 31, 2021
Equipment on operating leases$45,669 $47,423 
Less: accumulated depreciation(9,088)(9,494)
Equipment on operating leases, net$36,581 $37,929 
The estimated residual value of our leased assets at the end of the lease term was $28.1 billion and $29.1 billion at March 31, 2022 and December 31, 2021.

Depreciation expense related to Equipment on operating leases, net was $1.2 billion and $1.7 billion in the three months ended March 31, 2022 and 2021.

The following table summarizes lease payments due to GM Financial on leases to retail customers:
Year Ending December 31,
20222023202420252026ThereafterTotal
Lease receipts under operating leases$4,167 $3,790 $1,546 $213 $$— $9,721