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GECAS Transaction (Tables) | 12 Months Ended
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Dec. 31, 2021
Business Combination and Asset Acquisition [Abstract] |
Schedule of business acquisition | The consideration transferred to effect the GECAS Transaction consisted of the following:
Cash consideration | $ | 22,583,992 |
111,500,000 AerCap ordinary shares issued multiplied by AerCap closing share price per share of $59.04 on October 29, 2021 | 6,582,960
AerCap notes issued to GE | 1,000,000
Consideration transferred | $ | 30,166,952 |
The following table summarizes the estimated fair values of the assets acquired and liabilities assumed at the Closing Date:
| Final Amounts Recognized as of the Closing Date
Cash and cash equivalents | $ | 151,554 |
Restricted cash | 4,850 |
Flight equipment held for operating leases, net | 23,108,835 |
Investment in finance leases, net | 1,165,382 |
Prepayments on flight equipment | 2,990,414 |
Maintenance rights and lease premium, net (a) | 3,984,212 |
Associated companies | 555,212 |
Accrued maintenance liability | (1,234,857) |
Deferred tax liabilities | (1,195,168) |
Other assets and liabilities (b) | 636,518 |
Estimate of fair value of net assets acquired | $ | 30,166,952 |
Consideration Transferred | $ | 30,166,952 |
Goodwill | $ | — |
(a) Includes $2.8 billion maintenance rights asset and $1.2 billion lease premium asset, net. (b) The fair value of the assets acquired includes current trade receivables of $245 million. The gross amount due under the contracts is $463 million.
Schedule of acquisition related costs | AerCap reported transaction and integration-related expenses related to the GECAS Transaction as provided in the table below. These expenses are included in transaction and integration-related expenses in our Consolidated Income Statement.
| Year ended
| December 31, 2021
Banking fees | $ | 186,474 |
Professional fees and other expenses | 105,417 |
Severance and other compensation expenses | 43,075 |
| $ | 334,966 |
Schedule of pro forma information of business acquisition | The following unaudited pro forma summary presents consolidated information of AerCap as if the business combination had occurred on January 1, 2020:
| Year Ended December 31,
| 2021 |  | 2020
Total revenues and other income | $ | 7,866,898 |  |  | $ | 8,062,582 |
Net income | 1,935,570 |  |  | 11,845 |

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