FLYEXCLUSIVE INC
For the period ended Dec 31, 2023. Filed May 1, 2024.
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FY2023 · Filed May 1, 2024
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12. Intangible Assets
- Intangible Assets
Intangible assets, net are as follows:
| December 31, 2023 | ||||
|---|---|---|---|---|
| IntangibleAssets, Gross | AccumulatedAmortization | IntangibleAssets, Net | Weighted-AverageUseful Life(in years) | |
| Software - in service | $3,486 | $(1,902) | $1,584 | 3 |
| FAA certificate | 650 | — | 650 | Indefinite |
| Total acquired intangible assets | $4,136 | $(1,902) | $2,234 | |
| December 31, 2022 | ||||
|---|---|---|---|---|
| IntangibleAssets, Gross | AccumulatedAmortization | IntangibleAssets, Net | Weighted-AverageUseful Life(in years) | |
| Software - in service | $2,680 | $(898) | $1,782 | 3 |
| FAA certificate | 650 | — | 650 | Indefinite |
| Total acquired intangible assets | $3,330 | $(898) | $2,432 | |
Amortization of intangible assets was $1,004 and $898 for the years ended December 31, 2023 and 2022, respectively. The Company didnot record any impairment charges related to definite-lived intangible assets for the years ended December 31, 2023 and 2022.
The following is a schedule of estimated amortization expense for the following periods:
| Fiscal Year | Amount |
|---|---|
| 2024 | $1,040 |
| 2025 | 383 |
| 2026 | 161 |
| 2027 | — |
| 2028 | — |
| Thereafter | — |
| $1,584 |
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