v3.24.1.u1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2023
Dec. 31, 2022
Current assets    
Cash and cash equivalents $ 11,626 $ 23,179
Other receivables 4,460 4,925
Notes receivable, current portion 301 261
Parts and supplies inventory 5,142 5,872
Investments in securities 71,230 69,448
Prepaid engine overhauls, current portion 14,522 5,127
Prepaid expenses and other current assets 6,752 5,865
Total current assets 116,793 131,761
Notes receivable, non-current portion, net 21,177 4,856
Due from related parties, non-current 0 2,629
Property and equipment, net 253,976 252,693
Operating lease right-of-use assets 84,649 51,051
Intangible assets, net 2,234 2,432
Prepaid engine overhauls, non-current portion 41,531 48,310
Other non-current assets 670 484
Total assets 521,030 494,216
Current liabilities    
Excise tax payable 1,032 0
Long-term notes payable, current portion 26,471 23,581
Deferred revenue, current portion 83,914 58,023
Operating lease liabilities, current portion 17,907 9,782
Other current liabilities 28,705 21,777
Total current liabilities 221,536 138,695
Long-term notes payable, non-current portion 166,818 222,320
Operating lease liabilities, non-current portion 68,100 40,731
Deferred revenue, non-current portion 10,026 2,579
Derivative liability 2,508 971
Other non-current liabilities 16,712 41,503
Total liabilities 485,700 446,799
Commitments and contingencies (Note 22)
Temporary equity    
Redeemable noncontrolling interest (35,525) 0
Stockholders' equity    
Accumulated other comprehensive loss (69) (476)
Additional paid-in capital 126,978  
Accumulated deficit (80,456)  
Total flyExclusive stockholders’ equity 46,461  
Noncontrolling interests 24,394  
Total stockholders’ equity 70,855  
Members' equity    
LGM Enterprises, LLC members' deficit   (4,641)
Accumulated other comprehensive loss (69) (476)
Accumulated deficit (80,456)  
Total flyExclusive stockholders’ equity   (5,117)
Noncontrolling interests   52,534
Total stockholders’ equity   47,417
Total liabilities, temporary equity and stockholders' / members' equity 521,030 494,216
Common Class A    
Stockholders' equity    
Common stock [1] 2  
Common Class B    
Stockholders' equity    
Common stock [1] 6  
Nonrelated Party    
Current assets    
Accounts receivable, net 849 14,088
Current liabilities    
Accounts payable 30,172 21,756
Short-term notes payable 14,396 3,704
Related Party    
Current assets    
Accounts receivable, net 1,911 2,996
Due from related parties, non-current 0 2,629
Current liabilities    
Accounts payable 0 72
Short-term notes payable $ 18,939 $ 0
[1] Equity interests issued and outstanding for periods prior to the date of the Merger have not been retroactively restated to give effect to the reverse recapitalization. Prior to the closing of the Merger (as defined in Note 3, "Merger"), the legal structure of LGM was a limited liability company with ownership interests consisting of members' units. Application of an exchange ratio of members' units for shares of common stock for periods prior to the Merger would not be representative of the capital structure of the Company after the Merger. See Note 3, "Merger," for further discussion.

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