Condensed Financial Information of Registrant (Tables)

12 Months Ended

Dec. 31, 2020

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Condensed Balance Sheets

The following presents the condensed financial information of our parent company on a standalone basis.

Gogo Inc.

Condensed Balance Sheets

(in thousands)

	December 31,			December 31,
	2020			2019
Assets:
Cash and cash equivalents	$	55,065		$	118,323
Short-term investments	-			-
Prepaid expenses and other current assets		25		164
Other non-current assets	-				2,599
Total assets	$	55,090		$	121,086
Liabilities and stockholders’ deficit:
Total current liabilities	$	1,947		$	2,200
Long-term debt		212,387			199,849
Other non-current liabilities		2,108			2,340
Investments and payables with subsidiaries		479,762			315,587
Total liabilities		696,204			519,976
Total stockholders’ deficit		(641,114	)		(398,890	)
Total liabilities and stockholders’ deficit	$	55,090		$	121,086

Condensed Statements of Operations and Comprehensive Loss

Gogo Inc.

Condensed Statements of Operations and Comprehensive Loss

(in thousands)

	For the Years Ended December 31,
	2020			2019			2018
Interest income	$	(451	)	$	(3,083	)	$	(3,123	)
Interest expense		29,318			33,807			36,984
Loss on extinguishment of debt	-				9,163			19,653
Other		4			3		-
Total other (income) expense		28,871			39,890			53,514
Income (loss) before income taxes		(28,871	)		(39,890	)		(53,514	)
Income tax provision (benefit)		(146	)		563			(3,354	)
Equity losses of subsidiaries		221,311			105,551			111,871
Net loss	$	(250,036	)	$	(146,004	)	$	(162,031	)
Comprehensive loss	$	(250,036	)	$	(146,004	)	$	(162,031	)

Condensed Statements of Cash Flows

Gogo Inc.

Condensed Statements of Cash Flows

(in thousands)

	For the Years Ended December 31,
	2020			2019			2018
Net loss	$	(250,036	)	$	(146,004	)	$	(162,031	)
Accretion of debt discount		13,255			15,276			21,105
Amortization of deferred financing costs		1,781			1,906			1,648
Loss on extinguishment of debt	-				9,163			19,653
Subsidiary equity losses		221,311			105,551			111,871
Deferred income taxes		(232	)		178			(3,821	)
Other operating activities		(114	)		(1,224	)		(674	)
Net cash used in operating activities		(14,035	)		(15,154	)		(12,249	)
Acquisition of short-term investments	-			-				(39,323	)
Redemption of short-term investments	-				39,323			192,893
Investments and advances with subsidiaries		(45,097	)		94,716			(19,595	)
Net cash provided by (used in) investing activities		(45,097	)		134,039			133,975
Financing activities:
Proceeds from issuance of convertible notes	-			-				237,750
Repurchase of convertible notes		(2,498	)		(159,502	)		(200,438	)
Payment of debt issuance costs	-			-				(8,054	)
Other financing activities		(4,227	)		325			396
Net cash provided by (used in) financing activities		(6,725	)		(159,177	)		29,654
Increase (decrease) in cash, cash equivalents    and restricted cash		(65,857	)		(40,292	)		151,380
Cash, cash equivalents and restricted cash at    beginning of period		120,922			161,214			9,834
Cash, cash equivalents and restricted cash at end of    period	$	55,065		$	120,922		$	161,214
Cash, cash equivalents and restricted cash at end of    period	$	55,065		$	120,922		$	161,214
Less: current restricted cash	-			-			-
Less: non-current restricted cash	-				2,599			101
Cash and cash equivalents at end of period	$	55,065		$	118,323		$	161,113