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Inventories and Equipment on Operating Leases, Net
 9 Months Ended
Sep. 30, 2020
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:
September 30,
2020		December 31,
2019
Finished goods$823 $576 
Work-in-process48 47 
Raw materials107 71 
Total Inventories$978 $694 
The transfer of equipment from our inventories to equipment subject to an operating lease is presented in our Condensed 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.
Equipment on operating leases and the related accumulated depreciation were as follows:
 September 30,
2020		December 31,
2019
Equipment on operating leases$1,388 $1,443 
Accumulated depreciation(1,087)(1,079)
Equipment on operating leases, net$301 $364 
Total contingent rentals on operating leases, consisting principally of usage charges in excess of minimum contracted amounts, were $15 and $25 for the three months ended September 30, 2020 and 2019, respectively, and $51 and $80 for the nine months ended September 30, 2020 and 2019, respectively.
Secured Borrowings and Collateral
In July 2020, we sold the rights to payments under operating leases with an equipment net book value of $10 to a consolidated SPE, which funded the purchase through a secured loan agreement with a financial institution. As of September 30, 2020 the SPE holds $9 of Equipment on operating leases, net, which are included in our Condensed Consolidated Balance Sheet as collateral for the secured loan agreement. Refer to Note 13 - Debt, for additional information related to this arrangement including the related secured loan agreement.