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SUMMARIZED FINANCIAL INFORMATION
 12 Months Ended
Dec. 31, 2023
Equity Method Investments and Joint Ventures [Abstract]  
SUMMARIZED FINANCIAL INFORMATION
NOTE 26. SUMMARIZED FINANCIAL INFORMATION.
As of September 14, 2023, our investment in AerCap ownership reduced below 20%, and as a result, we no longer have significant influence in AerCap. On November 16, 2023, we sold our remaining equity interest in AerCap and only the note remains outstanding. The fair value of our interest in AerCap, including the note, was $944 million and $7,403 million, which is included within Investment securities on our Statement of Financial Position at December 31, 2023 and 2022, respectively. We recognized a realized pre-tax and after-tax gain of $129 million based on several transactions during the year with share prices in the range of $55.75 to $65.89, an unrealized pre-tax loss of $865 million ($1,052 million after-tax) based on a share price of $58.32 and an unrealized pre-tax and after-tax gain of $711 million based on a share price of $65.42 related to our interest in AerCap for the years ended December 31, 2023, 2022, and 2021, respectively. See Notes 2, 3 and 19 for further information. Given AerCap summarized financial information is not available as of the date of this filing, the summarized financial information presented below is reported on a one quarter lag.

For the years ended December 312023(a)2022(b)
Revenues$7,511 $6,627 
Net income (loss)2,539 (1,128)
Net income (loss) attributable to the entity2,525 (1,132)
(a) We reported summarized financial information ending September 30, 2023 instead of September 14, 2023 (date investment reduced below 20%).
(b) We reported summarized financial information starting October 1, 2021 instead of November 1, 2021 (the acquisition date).

As of December 312023(a)2022(b)
Flight equipment held for operating leases, net$— $54,611 
Other— 15,200 
Total assets$— $69,811 
$— 
Debt$— $47,350 
Other— 6,817 
Total liabilities$— $54,167 
Noncontrolling interests$— $77 
(a) As of September 14, 2023 (date investment reduced below 20%). As a result, we no longer have significant influence.
(b) Financial information is from September 30, 2022.

AerCap is a SEC registrant with separate filing requirements, and their respective financial information can be obtained from www.sec.gov.
Equity method investments. Unconsolidated entities over which we have significant influence are accounted for as equity method investments and presented on a one-line basis in All other assets on our Statement of Financial Position. Equity method income includes our share of the results of unconsolidated entities, gains (loss) from sales and impairments of investments, which is included in Other income and in Insurance revenues in our Statement of Earnings (Loss). See Notes 1, 9 and 19 for further information.

Equity method investment balance (Note 9)Equity method income (loss)
December 3120232022202320222021
Aerospace$1,958 $1,931 $295 $149 $58 
Renewable Energy808 752 74 32 39 
Power1,029 960 78 89 23 
Corporate(a)4,136 3,991 (34)103 68 
Total consolidated$7,931 $7,633 $413 $373 $188 
(a) Equity method investments within Corporate include investments held by EFS of $1,718 million and $1,975 million and held by our run-off insurance operations of $2,383 million and $1,980 million as of December 31, 2023 and 2022, respectively.

Summarized financial information of these equity method investments, exclusive of AerCap, is as follows.

For the years ended December 31
2023
2022
2021
Revenues$43,463 $33,891 $27,210 
Gross Profit2,791 2,579 2,060 
Net income (loss)2,847 2,068 2,020 
Net income (loss) attributable to the entity2,802 2,035 2,000 

As of December 31
2023
2022
Current assets$29,167 $26,659 
Total assets$68,313 $61,105 
Current liabilities$23,484 $21,918 
Total liabilities$33,573 $31,947 
Noncontrolling interests$552 $399