NOTES TO CONSOLID ATED FINANCIAL STATEMENTS December 31, 2011, 2010 and 2009 (currencies in millions) Inventories include the following: Inventories valued using the LIFO method comprised 45% and 38% of consolidated inventories before deducting  the LIFO reserve at December 31, 2011 and 2010, respectively. During 2010, inventory quantities declined which  provided a pretax favorable income effect from the liquidation of LIFO inventory of $15.0. Finance and other receivables include the following: The net activity of sales-type finance leases, dealer direct loans and dealer wholesale financing on new trucks is  shown in the operating section of the Consolidated Statements of Cash Flows since those receivables finance the  sale of Company inventory.  Annual minimum payments due on finance receivables are as follows: Estimated residual values included with finance leases amounted to $209.4 in 2011 and $165.3 in 2010. Experience  indicates the majority of dealer wholesale financing will be repaid within one year. In addition, repayment  experience indicates that some loans, leases and other finance receivables will be paid prior to contract maturity,  while others may be extended or modified.   C. INVENTORIES D. FINANCE AND OTHER RECEIVABLES  At December 31 , 2011  2010 Finished products  $ 436.2 $ 370.1 Work in process and raw materials  439.6 322.2 875.8 692.3 Less LIFO reserve  (165.4) (158.3) $ 710.4 $ 534.0 At December 31 , 2011  2010 Loans  $3,114.8 $2,713.9 Retail direct financing leases   2,187.8 2,005.0 Sales-type finance leases  795.8 703.6 Dealer wholesale financing   1,517.1 983.4 Interest and other receivables  111.0 109.3 Unearned interest: Finance leases  (327.8) (299.3)  $7,398.7 $6,215.9 Less allowance for losses: Loans, leases and other  (127.3) (137.5) Dealer wholesale financing  (11.7) (7.5) $7,259.7 $6,070.9 FINANCE LOANS LEASES 2012  $1,108.9  $ 908.7 2013  800.1 685.4 2014  574.5 511.5 2015  394.8 352.6 2016  208.8 219.3 Thereafter  27.7 96.7 $3,114.8  $2,774.2