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Income taxes (Tables)

12 Months Ended

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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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.

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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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Tabular disclosure of valuation allowances to reduce deferred tax assets to net realizable value, including identification of the deferred tax asset more likely than not will not be fully realized and the corresponding amount of the valuation allowance.

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