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Consolidated Statements of Shareholders' Equity (Deficit) / Members' Equity (Deficit) and Temporary Equity (Parenthetical) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2023
Dec. 27, 2023
Dec. 31, 2022
Statement of Stockholders' Equity [Abstract]        
Net income (loss) attributable to parent $ 299 $ (46,835) [1] $ (47,134) $ 6,048 [1]
Net loss attributable to noncontrolling interest (92) (8,983) (8,891) (10,200)
Net income attributable to redeemable noncontrolling interest 1,080 1,080 0 0
Net income (loss) $ 1,287 $ (54,738) $ (56,025) [2] $ (4,152)
[1] Basic and diluted earnings per share has not been presented for any period in the consolidated statements of operations and comprehensive income (loss). As a result of the Merger (as defined in Note 3, "Merger"), the Company's capital structure was significantly altered. The Company determined that presenting earnings per share for periods prior to the Merger and for the five-day period from the Closing Date to December 31, 2023 would not result in values meaningful to the users of the consolidated financial statements. See Earnings per Share in Note 2, "Summary of Significant Accounting Policies" for further discussion.
[2] The Merger occurred on December 27, 2023. As a result, net loss for the year ended December 31, 2023 was attributed to the pre-Merger period from January 1, 2023 through December 27, 2023 and to the post-Merger period from December 28, 2023 through December 31, 2023. During the pre-Merger period, net loss was attributable to LGM Enterprises, LLC and its noncontrolling interests. During the post-Merger period, net income was attributable to flyExclusive, Inc. and its noncontrolling interests and redeemable noncontrolling interest. Refer to the table below for the attribution of net income (loss) to controlling interests (LGM Enterprises, LLC for the pre-Merger period and flyExclusive, Inc. for the post-Merger period), noncontrolling interests, and redeemable noncontrolling interest during the pre-Merger and post-Merger periods.
(in thousands)
Controlling InterestsNoncontrolling
Interests
Redeemable noncontrolling interestTotal
Net loss of LGM Enterprises, LLC attributed to the pre-Merger period from January 1, 2023 through December 27, 2023$(47,134)$(8,891)$— $(56,025)
Net income (loss) of flyExclusive, Inc. attributed to the post-Merger period from December 28, 2023 through December 31, 2023.299 (92)1,080 1,287 
Total net income (loss) for the year ended December 31, 2023$(46,835)$(8,983)$1,080 $(54,738)