Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2021
Dec. 31, 2020
Current assets:    
Cash and cash equivalents $ 130,188 $ 29,317
Accounts receivable, net of allowance for doubtful accounts of $1,692 and $1,652 as of December 31, 2021 and December 31, 2020 42,571 50,215
Inventory:    
Aircraft, airframes, engines, and parts, net 81,759 85,192
Advance vendor payments 14,287 6,205
Due from related party   474
Deposits, prepaid expenses, and other current assets 2,724 7,560
Total current assets 271,529 178,963
Fixed assets:    
Aircraft and engines held for lease, net 73,364 86,844
Property and equipment, net 7,350 7,839
Inventory:    
Aircraft, airframes, engines, and parts, net 77,534 55,463
Deferred income taxes 10,013 5,708
Deferred financing costs, net 999 367
Deferred customer incentives and other assets, net 598 271
Due from related party   5,450
Goodwill 19,860 19,860
Other intangible assets, net 26,238 28,364
Total assets 487,485 389,129
Current liabilities:    
Accounts payable 19,967 16,364
Accrued expenses 8,424 8,576
Income tax payable 3,443 1,324
Lessee and customer purchase deposits 33,212 2,820
Deferred revenue 2,860 2,595
Total current liabilities 67,906 31,679
Long-term lease deposits 2,053 1,145
Maintenance deposit payments and other liabilities 3,403 3,664
Deferred income taxes, net 1,113  
Warrant liability 4,131 1,186
Total liabilities 78,606 37,674
Stockholders' equity:    
Common stock, $0.0001 par value. Authorized 200,000,000 shares; issued and outstanding 51,673,099 and 41,046,216 shares 5 4
Additional paid-in capital 313,901 292,593
Retained earnings 94,973 58,858
Total equity 408,879 351,455
Total liabilities and stockholders' equity $ 487,485 $ 389,129