10-K
Annual Report
AerSale Corporation
ASLE
NASDAQ
CIK: 1754170
File #: 001-38801
Balance Sheet
57 line items · 2 periods
XBRL
| Item | Dec 31, 2023 | Dec 31, 2022 |
|---|---|---|
Consolidated Balance Sheets | ||
Assets | ||
Current assets: | ||
Cash and cash equivalents | 5,873,000 | 147,188,000 |
Accounts receivable, net of allowance for credit losses of $978 and $1,074 as of December 31, 2023 and December 31, 2022 | 31,239,000 | 28,273,000 |
Income tax receivable | 1,628,000 | — |
Inventory: | ||
Aircraft, airframes, engines, and parts, net | 177,770,000 | 117,488,000 |
Advance vendor payments | 28,638,000 | 27,585,000 |
Deposits, prepaid expenses, and other current assets | 19,626,000 | 13,022,000 |
Total current assets | 264,774,000 | 333,556,000 |
Fixed assets: | ||
Aircraft and engines held for lease, net | 26,475,000 | 31,288,000 |
Property and equipment, net | 27,692,000 | 12,638,000 |
Inventory: | ||
Aircraft, airframes, engines, and parts, net | 151,398,000 | 66,042,000 |
Operating lease right-of-use assets | 27,519,000 | 31,624,000 |
Deferred income taxes | 12,203,000 | 11,287,000 |
Deferred financing costs, net | 1,506,000 | 544,000 |
Revolving credit agreement | 1,500,000 | 500,000 |
Deferred customer incentives and other assets, net | 525,000 | 628,000 |
Goodwill | 19,860,000 | 19,860,000 |
Qwest - Certifications - Asset Management Solutions | 13,416,000 | 13,416,000 |
ALGS - TechOps | 379,000 | 379,000 |
ACT - TechOps | 6,002,000 | 6,002,000 |
ACS - TechOps | 63,000 | 63,000 |
Other intangible assets, net | 21,986,000 | 24,112,000 |
Total assets | 553,938,000 | 531,579,000 |
Corporate | 17,729,000 | 157,139,000 |
TechOps | 163,883,000 | 141,406,000 |
Asset Management Solutions | 372,326,000 | 233,034,000 |
Liabilities and Stockholder's Equity | ||
Current liabilities: | ||
Accounts payable | 29,899,000 | 21,131,000 |
Accrued expenses | 5,478,000 | 8,843,000 |
Lessee and customer purchase deposits | 1,467,000 | 17,085,000 |
Current operating lease liabilities | 4,593,000 | 4,426,000 |
Current portion of long-term debt | 1,278,000 | — |
Deferred revenue | 2,998,000 | 1,355,000 |
Total current liabilities | 45,713,000 | 52,840,000 |
Revolving credit facility | 29,000,000 | — |
Long-term debt | 7,281,000 | — |
Synovus - Equipment Loan | 8,559,000 | — |
Long-term lease deposits | 102,000 | 152,000 |
Long-term operating lease liabilities | 24,377,000 | 28,283,000 |
Maintenance deposit payments and other liabilities | 64,000 | 668,000 |
Warrant liability | 2,386,000 | 4,656,000 |
Total liabilities | 108,923,000 | 86,599,000 |
Stockholders' equity: | ||
Common stock, $0.0001 par value. Authorized 200,000,000 shares; issued and outstanding 52,954,430 and 51,189,461 shares as of December 31, 2023 and December 31, 2022 | 5,000 | 5,000 |
Additional paid-in capital | 311,739,000 | 306,141,000 |
Retained earnings | 133,271,000 | 138,834,000 |
Total stockholders' equity | 445,015,000 | 444,980,000 |
Retained Earnings | 133,271,000 | 138,834,000 |
Additional Paid-in Capital | 311,739,000 | 306,141,000 |
Common Stock | 5,000 | 5,000 |
Total liabilities and stockholders' equity | 553,938,000 | 531,579,000 |