Parent Company Condensed Financial Statements (Tables)

Gogo Inc.

Condensed Balance Sheets

(in thousands)


	December 31, 2013		December 31, 2012
Assets:
Cash and cash equivalents	$	173,928	$	—
Investments and advances with subsidiaries		102,253		173,803

Total assets	$	276,181	$	173,803

Liabilities and Stockholders’ equity (deficit):
Total liabilities	$	5,991	$	5,202
Total redeemable preferred stock		—		614,378
Total stockholders’ equity (deficit)		270,190		(445,777	)

Total liabilities and stockholders’ equity (deficit)	$	276,181	$	173,803

Gogo Inc.

Condensed Statements of Operations and Comprehensive Income (Loss)

(in thousands)


	For the Years Ended December 31,
	2013			2012			2011
Interest income	$	(18	)	$	—		$	—
Fair value derivative adjustments		36,305			(9,640	)		(58,740	)
Write off of deferred equity financing costs		—			5,023			—
Other expense		—			—			40

Total other (income) expense		36,287			(4,617	)		(58,700	)

Income (loss) before income taxes		(36,287	)		4,617			58,700
Income tax provision		1,107			1,036			1,053
Equity losses of subsidiaries		73,895			36,295			34,032

Net income (loss)		(111,289	)		(32,714	)		23,615
Preferred stock return		(29,277	)		(52,427	)		(31,331	)
Accretion of preferred stock		(5,285	)		(10,499	)		(10,181	)

Net loss to attributable to common stock	$	(145,851	)	$	(95,640	)	$	(17,897	)

Comprehensive income (loss)	$	(111,694	)	$	(32,734	)	$	23,615

Gogo Inc.

Condensed Statements of Cash Flows

(in thousands)


	For the Years Ended December 31,
	2013			2012			2011
Net income (loss)	$	(111,289	)	$	(32,714	)	$	23,615
Fair value derivative adjustments		36,305			(9,640	)		(58,740	)
Write off of deferred equity financing costs		—			5,023			—
Subsidiary equity losses		73,895			36,295			34,032
Other operating activities		910			929			957

Net cash used in operating activities		(179	)		(107	)		(136	)

Net cash provided by (used in) investing activities – investments and advances with subsidiaries		2,750			4,347			(54,524	)

Financing activities:
Proceeds from initial public offering, net of underwriter commissions		173,910			—			—
Proceeds from the issuance of preferred stock		—			—			55,386
Other financing activities		(2,553	)		(4,255	)		(711	)

Net cash provided by financing activities		171,357			(4,255	)		54,675

Increase (decrease) in cash and cash equivalents		173,928			(15	)		15
Cash and cash equivalents at the beginning of period		—			15			—

Cash and cash equivalents at the end of period	$	173,928		$	—		$	15