Post-effective amendment to a registration statement that is not immediately effective upon filing

BUSINESS COMBINATIONS (Tables)

v3.21.1
BUSINESS COMBINATIONS (Tables)
12 Months Ended
Dec. 31, 2020
Business Acquisition [Line Items]  
Summary of purchase price allocation

 

 

 

 

 

 

 

 

 

 

Acquisition Date

 

 

Fair Values

Accounts receivable

    

$

1,442,000

Deposits, prepaid expenses, and other current assets

 

 

22,000

Property and equipment

 

 

381,000

Other intangible assets

 

 

10,096,000

Goodwill

 

 

6,002,000

Accounts payable

 

 

(134,000)

Accrued expenses

 

 

(833,000)

Total purchase price

 

$

16,976,000

 

Summary of intangible assets acquired

The intangible assets included above consist of the following:

 

 

 

 

 

 

 

Fair Value

Trademark and trade name (indefinite lived)

    

$

200,000

 

 

 

 

 

 

 

Fair Value

FAA part 145 certificate (indefinite lived)

    

$

796,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Useful Life In

 

 

 

 

 

Years

 

Fair Value

Customer relationships

    

10

    

$

9,100,000

 

Qwest Air Parts, Inc  
Business Acquisition [Line Items]  
Summary of purchase price allocation

 

 

 

 

 

    

Acquisition Date

 

    

Fair Values

Accounts receivable

 

$

2,714,000

Inventory

 

 

3,289,000

Deposits, prepaid expenses, and other current assets

 

 

218,000

Property and equipment

 

 

567,000

Other intangible assets

 

 

10,324,000

Goodwill

 

 

13,402,000

Accounts payable

 

 

(410,000)

Accrued expenses

 

 

(1,151,000)

Deferred tax liability

 

 

(2,872,000)

Total purchase price

 

$

26,081,000

 

Summary of intangible assets acquired

The intangible assets included above consist of the following:

 

 

 

 

 

 

    

Fair Value

FAA part 145 certificate (indefinite-lived)

 

$

724,000

 

 

 

 

 

 

 

 

    

Useful Life In

    

    

 

 

    

Years

    

Fair Value

Customer relationships

 

10

 

$

9,600,000

 

Avborne Component Solutions [Member]  
Business Acquisition [Line Items]  
Summary of purchase price allocation

 

 

 

 

 

    

Acquisition Date

 

  

Fair Values

Accounts receivables, net

 

$

2,680,000

Inventory

 

 

5,500,000

Deposits, prepaid expenses and other current assets

 

 

211,000

Fixed assets

 

 

1,733,000

Deferred tax asset

 

 

3,848,000

Intangible assets

 

 

10,000,000

Goodwill

 

 

63,000

Accounts payable, net

 

 

(1,249,000)

Accrued taxes

 

 

(37,000)

Accrued expenses

 

 

(465,000)

Total purchase price

 

$

22,284,000

 

Summary of intangible assets acquired

The intangible assets included above consist of the following:

 

 

 

 

 

 

    

Fair Value

Trademarks

 

$

600,000

FAA certificate

 

 

7,300,000

Total intangible assets with indefinite lives

 

$

7,900,000

 

 

 

 

 

 

 

 

    

Useful Life

    

    

 

 

  

In Years

  

Fair Value

Customer relationships

 

10

 

$

2,100,000

Total intangible assets with definite lives

 

 

 

$

2,100,000

 

Summary of unaudited pro forma information

The following unaudited pro forma information presents our consolidated results of operations as if ACT, Qwest and Avborne had been included in our consolidated results since January  1, 2018:

 

 

 

 

 

 

 

 

 

 

 

 

    

Year Ended December 31,

 

    

(Unaudited)

 

 

2020

    

2019

    

2018

Revenues

 

$

208,938,000

 

$

324,871,000

 

$

333,215,000

Net income from continuing operations

 

$

8,483,000

 

$

21,497,000

 

$

34,351,000

Net revenue (loss) attributable to AerSale Corporation common shareholders

 

$

8,483,000

 

$

(13,136,000)

 

$

(17,099,000)

Earnings (loss) per share attributable to AerSale Corporation - basic

 

$

8.09

 

$

(354.93)

 

$

(461.99)

Earnings (loss) per share attributable to AerSale Corporation - diluted

 

$

7.61

 

$

(354.93)

 

$

(461.99)