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Income taxes (Tables) | 12 Months Ended
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Dec. 31, 2021
Income Tax Disclosure [Abstract] |
Schedule of provision for income taxes by tax jurisdiction | The following table presents our income tax expense (benefit) by tax jurisdiction for the years ended December 31, 2021, 2020 and 2019:
| Year Ended December 31,
| 2021 |  | 2020 |  | 2019
Deferred tax (benefit) expense |  |  |  |  |
Ireland | $ | (26,968) |  |  | $ | (31,387) |  |  | $ | 154,134 |
United States | 7,566 |  |  | 6,180 |  |  | 11,327 |
Other | 2,076 |  |  | (707) |  |  | 14,974 |
| (17,326) |  |  | (25,914) |  |  | 180,435 |
Deferred tax (benefit) expense related to the net change in valuation allowance |  |  |  |  |
Ireland | 3,128 |  |  | 1,882 |  |  | 2,358 |
United States | 109 |  |  | 12,085 |  |  | (18,425) |
Other | 8,184 |  |  | (8,935) |  |  | (1,870) |
| 11,421 |  |  | 5,032 |  |  | (17,937) |
Current tax expense (benefit) |  |  |  |  |
Ireland | 160,866 |  |  | — |  |  | — |
United States | 1,198 |  |  | 3,016 |  |  | 789 |
Other | 6,378 |  |  | 635 |  |  | 4,427 |
| 168,442 |  |  | 3,651 |  |  | 5,216 |
Income tax expense (benefit) | $ | 162,537 |  |  | $ | (17,231) |  |  | $ | 167,714 |
Schedule of reconciliation of statutory of income tax expense to provision for income taxes | The following table provides a reconciliation of the income tax expense (benefit) at the domestic statutory income tax rate in Ireland, where the Company is tax resident, to income tax expense (benefit) for the years ended December 31, 2021, 2020 and 2019:
| Year Ended December 31,
| 2021 |  | 2020 |  | 2019 |
Income tax expense (benefit) at statutory income tax rate of 12.5% | $ | 143,490 |  |  | $ | (39,327) |  |  | $ | 167,580 |  |
Permanent differences | 14,133 |  | (a) | 22,486 |  | (b) | (949) |  | (c)
Foreign rate differential | 4,914 |  |  | (390) |  |  | 1,083 |  |
| 19,047 |  |  | 22,096 |  |  | 134 |  |
Income tax expense (benefit) | $ | 162,537 |  |  | $ | (17,231) |  |  | $ | 167,714 |  |
(a)The 2021 permanent differences included the following tax-effected amounts: non-deductible expenses of $19.1 million, non-taxable income of $18.9 million, a valuation allowance change in respect of U.S., Dutch and Irish tax losses of $6.5 million and other permanent differences of $7.4 million. (b)The 2020 permanent differences included non-deductible goodwill impairment, non-deductible interest, non-deductible share-based compensation in Ireland, and a valuation allowance change in respect of U.S., Dutch and Irish tax losses. (c)The 2019 permanent differences included non-deductible interest, non-deductible share-based compensation in Ireland and in the Netherlands, and a valuation allowance change in respect of U.S., Dutch and Irish tax losses.
Schedule of foreign rate differential by tax jurisdiction | The following tables present our foreign rate differential by tax jurisdiction for the years ended December 31, 2021, 2020 and 2019:
| Year Ended December 31, 2021
| Pre-tax income (loss) |  | Local statutory tax rate |  | Variance to Irish statutory tax rate of 12.5% |  | Tax variance as a result of global activities (b)
Tax jurisdiction |  |  |  |  |  |  |
Ireland | $ | 1,201,968 |  |  | 12.5 | % |  | — |  |  | $ | — |
United States | 42,253 |  |  | 21.0 | % |  | 8.5 | % |  | 3,592 |
Other | 22,274 |  |  | 18.4 | % |  | 5.9 | % |  | 1,322 |
Taxable income adjusted for temporary differences | $ | 1,266,495 |  |  |  |  |  |  | $ | 4,914 |
Permanent differences (c) | (118,578) |  |  |  |  |  |  |
Income before income taxes and income of investments accounted for under the equity method | $ | 1,147,917 |  |  |  |  |  |  |
| Year Ended December 31, 2020
| Pre-tax income (loss) |  | Local statutory tax rate (a) |  | Variance to Irish statutory tax rate of 12.5% |  | Tax variance as a result of global activities (b)
Tax jurisdiction |  |  |  |  |  |  |
Ireland | $ | (160,739) |  |  | 12.5 | % |  | — |  |  | $ | — |
United States | 101,339 |  |  | 21.0 | % |  | 8.5 | % |  | 8,614 |
Other | (75,332) |  |  | 24.5 | % |  | 12.0 | % |  | (9,004) |
Taxable loss | $ | (134,732) |  |  |  |  |  |  | $ | (390) |
Permanent differences (d) | (179,886) |  |  |  |  |  |  |
Loss before income taxes and income of investments accounted for under the equity method | $ | (314,618) |  |  |  |  |  |  |
| Year Ended December 31, 2019
| Pre-tax income (loss) |  | Local statutory tax rate (a) |  | Variance to Irish statutory tax rate of 12.5% |  | Tax variance as a result of global activities (b)
Tax jurisdiction |  |  |  |  |  |  |
Ireland | $ | 1,324,100 |  |  | 12.5 | % |  | — |  |  | $ | — |
United States | (30,041) |  |  | 21.0 | % |  | 8.5 | % |  | (2,553) |
Other | 38,987 |  |  | 21.8 | % |  | 9.3 | % |  | 3,636 |
Taxable income | $ | 1,333,046 |  |  |  |  |  |  | $ | 1,083 |
Permanent differences (e) | 7,596 |  |  |  |  |  |  |
Income before income taxes and income of investments accounted for under the equity method | $ | 1,340,642 |  |  |  |  |  |  |
(a)The local income tax expense for our significant tax jurisdictions (Ireland and the United States) does not differ from the actual income tax expense. (b)The tax variance as a result of global activities is primarily caused by our operations in countries with a higher or lower statutory tax rate than the statutory tax rate in Ireland. (c)The 2021 permanent differences included non-deductible expenses of $152.8 million, non-taxable income of $151.2 million and other permanent differences of $116.9 million. (d)The 2020 permanent differences included non-deductible goodwill impairment, non-deductible interest, non-deductible share-based compensation in Ireland, and a valuation allowance change in respect of U.S., Dutch and Irish tax losses. (e)The 2019 permanent differences included non-deductible interest, non-deductible share-based compensation in Ireland and in the Netherlands, and a valuation allowance change in respect of U.S., Dutch and Irish tax losses.
Schedule of principal components of deferred tax assets and liabilities | The following tables provide details regarding the principal components of our deferred tax liabilities and assets by jurisdiction as of December 31, 2021 and 2020:
| As of December 31, 2021
| Ireland |  | United States |  |  |  | Other |  | Total
Depreciation/Impairment | $ | (3,091,396) |  |  | $ | 214,404 |  |  |  |  | $ | (7,103) |  |  | $ | (2,884,095) |
Intangibles | (390,846) |  |  | (7,092) |  |  |  |  | — |  |  | (397,938) |
Accrued maintenance liability | (20,286) |  |  | 292 |  |  |  |  | — |  |  | (19,994) |
Obligations under capital leases and debt obligations | (2,079) |  |  | (178,299) |  |  |  |  | — |  |  | (180,378) |
Associated companies | — |  |  | (10,507) |  |  |  |  | — |  |  | (10,507) |
Deferred losses on sale of assets | — |  |  | 17,079 |  |  |  |  | — |  |  | 17,079 |
Valuation allowance | (10,664) |  |  | (112,177) |  |  |  |  | (29,236) |  |  | (152,077) |
Operating loss and tax credit carryforwards | 1,726,510 |  |  | 87,199 |  |  |  |  | 27,314 |  |  | 1,841,023 |
Other | (185,787) |  |  | 9,863 |  |  |  |  | (848) |  |  | (176,772) |
Net deferred tax (liabilities) assets | $ | (1,974,548) |  |  | $ | 20,762 |  |  |  |  | $ | (9,873) |  |  | $ | (1,963,659) |
| As of December 31, 2020
| Ireland |  | United States |  |  |  | Other |  | Total
Depreciation/Impairment | $ | (2,154,075) |  |  | $ | (14,014) |  |  |  |  | $ | 11,070 |  |  | $ | (2,157,019) |
Intangibles | (3,560) |  |  | (3,986) |  |  |  |  | — |  |  | (7,546) |
Accrued maintenance liability | (1,985) |  |  | 410 |  |  |  |  | — |  |  | (1,575) |
Obligations under capital leases and debt obligations | (3,343) |  |  | — |  |  |  |  | — |  |  | (3,343) |
Associated companies | — |  |  | (7,836) |  |  |  |  | — |  |  | (7,836) |
Deferred losses on sale of assets | — |  |  | 20,534 |  |  |  |  | — |  |  | 20,534 |
Valuation allowance | (7,536) |  |  | (50,805) |  |  |  |  | (21,052) |  |  | (79,393) |
Operating loss and tax credit carryforwards | 1,410,570 |  |  | 67,697 |  |  |  |  | 28,411 |  |  | 1,506,678 |
Other | (52,443) |  |  | 1,002 |  |  |  |  | (958) |  |  | (52,399) |
Net deferred tax (liabilities) assets | $ | (812,372) |  |  | $ | 13,002 |  |  |  |  | $ | 17,471 |  |  | $ | (781,899) |
Schedule of movement in valuation allowance for deferred income taxes | The following table presents the movements in the valuation allowance for deferred tax assets during the years ended December 31, 2021 and 2020:
| Year Ended December 31,
| 2021 |  | 2020
Valuation allowance at beginning of period | $ | 79,393 |  |  | $ | 74,361 |
GECAS Transaction | 61,263 |  |  | — |
(Decrease) Increase of allowance included in income tax expense | 11,421 |  |  | 5,032 |
Valuation allowance at end of period | $ | 152,077 |  |  | $ | 79,393 |

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- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32639-109319 + Details
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