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Consolidated Statements of Shareholders' Equity (Deficit) / Members' Equity (Deficit) and Temporary Equity - USD ($)
$ in Thousands
Total
Common Class A
Common Class B
Total flyExclusive stockholders’ equity (deficit)
Common Stock
Common Class A
Common Stock
Common Class B
LGM Enterprises, LLC members' deficit
Additional paid-in capital
Accumulated other comprehensive loss
Accumulated deficit
Noncontrolling Interests
Ending balance at Dec. 31, 2022 $ 0                    
Beginning balance at Dec. 31, 2021 49,687     $ (11,715)     $ (11,737)   $ 22   $ 61,402
Permanent Equity                      
Contributions from non controlling interests 24,627     10,078     10,078       14,549
Distributions to non controlling interests (22,254)     (9,037)     (9,037)       (13,217)
Other 7     7     7        
Net Income (loss) (4,650)     5,550     6,048   (498)   (10,200)
Unrealized gains (losses) on available-for-sale debt securities (476)                    
Net income (loss) (4,152)                    
Change in redemption value of redeemable noncontrolling interest 0                    
Excise tax payable 0                    
Ending balance (in shares) at Dec. 31, 2022   0 0                
Ending balance at Dec. 31, 2022 47,417     (5,117)     (4,641)   (476)   52,534
Permanent Equity                      
Contributions from non controlling interests 7,823     115     115       7,708
Distributions to non controlling interests (24,692)     (21,619)     (21,619)       (3,073)
Net Income (loss) (11,706)     (9,169)     (9,169)       (2,537)
Ending balance at Mar. 31, 2023 18,932     (35,700)     (35,314)   (386)   54,632
Beginning balance at Dec. 31, 2022 0                    
Beginning balance (in shares) at Dec. 31, 2022   0 0                
Beginning balance at Dec. 31, 2022 47,417     (5,117)     (4,641)   (476)   52,534
Permanent Equity                      
Unrealized gains (losses) on available-for-sale debt securities 17                    
Net income (loss) (5,881)                    
Change in redemption value of redeemable noncontrolling interest 0                    
Ending balance at Jun. 30, 2023 13,146     (33,729)     (33,270)   (459)   46,875
Beginning balance at Dec. 31, 2022 0                    
Ending balance at Dec. 27, 2023 (42,431)                    
Beginning balance (in shares) at Dec. 31, 2022   0 0                
Beginning balance at Dec. 31, 2022 47,417     (5,117)     (4,641)   (476)   52,534
Permanent Equity                      
Contributions from non controlling interests 13,500     3,959     3,959       9,541
Distributions to non controlling interests (61,630)     (40,251)     (40,251)       (21,379)
Aircraft trades 0     7,319     7,319       (7,319)
Unrealized gains (losses) on available-for-sale debt securities 156     156         156    
Net income (loss) [1] (56,025)     (47,134)     (47,134)       (8,891)
Beginning balance at Dec. 31, 2022 0                    
Ending balance at Dec. 31, 2023 (35,525)                    
Beginning balance (in shares) at Dec. 31, 2022   0 0                
Beginning balance at Dec. 31, 2022 47,417     (5,117)     (4,641)   (476)   52,534
Permanent Equity                      
Unrealized gains (losses) on available-for-sale debt securities 407                    
Net income (loss) (54,738)                    
Change in redemption value of redeemable noncontrolling interest (5,826)                    
Excise tax payable (1,032)                    
Ending balance (in shares) at Dec. 31, 2023   16,647,529 59,930,000   16,647,529 59,930,000          
Ending balance at Dec. 31, 2023 70,855     46,461 $ 2 $ 6   $ 126,978 (69) $ (80,456) 24,394
Beginning balance at Mar. 31, 2023 18,932     (35,700)     (35,314)   (386)   54,632
Permanent Equity                      
Contributions from non controlling interests 853     210     210       643
Distributions to non controlling interests (12,391)     (5,713)     (5,713)       (6,678)
Net Income (loss) 5,825     7,547     7,547       (1,722)
Unrealized gains (losses) on available-for-sale debt securities (73)                    
Net income (loss) 5,825                    
Ending balance at Jun. 30, 2023 13,146     (33,729)     $ (33,270)   (459)   46,875
Beginning balance at Dec. 27, 2023 (42,431)                    
Temporary Equity                      
Change in redemption value of redeemable noncontrolling interest 5,826                    
Net Income (loss) [1] 1,080                    
Ending balance at Dec. 31, 2023 (35,525)                    
Permanent Equity                      
Unrealized gains (losses) on available-for-sale debt securities 251     251         251    
Net income (loss) 1,287                    
Change in redemption value of redeemable noncontrolling interest (5,826)     (5,826)       (5,826)      
Excise tax payable (1,032)     (1,032)       (1,032)      
Net Income (loss) [1] 207     299           299 (92)
Ending balance (in shares) at Dec. 31, 2023   16,647,529 59,930,000   16,647,529 59,930,000          
Ending balance at Dec. 31, 2023 70,855     46,461 $ 2 $ 6   126,978 (69) (80,456) 24,394
Temporary Equity                      
Change in redemption value of redeemable noncontrolling interest 192,364                    
Net Income (loss) (21,699)                    
Ending balance at Mar. 31, 2024 135,140                    
Permanent Equity                      
Contributions from non controlling interests 157                   157
Distributions to non controlling interests (2,455)                   (2,455)
Unrealized gains (losses) on available-for-sale debt securities (169)     (169)         (169)    
Merger, net of redemptions and transaction costs 0                    
Issuance of Class A common stock upon conversion of Bridge Notes (in shares)         277,447            
Exchange of warrants for Class A common stock 371     371       371      
Change in redemption value of redeemable noncontrolling interest (192,364)     (192,364)       (129,667)   (62,697)  
Net Income (loss) (11,291)     (5,841)           (5,841) (5,450)
Ending balance (in shares) at Mar. 31, 2024         17,892,021 59,930,000          
Ending balance at Mar. 31, 2024 (134,297)     (149,509) $ 2 $ 6   0 (238) (149,279) 15,212
Beginning balance at Dec. 31, 2023 (35,525)                    
Ending balance at Jun. 30, 2024 108,982                    
Beginning balance (in shares) at Dec. 31, 2023   16,647,529 59,930,000   16,647,529 59,930,000          
Beginning balance at Dec. 31, 2023 70,855     46,461 $ 2 $ 6   126,978 (69) (80,456) 24,394
Permanent Equity                      
Unrealized gains (losses) on available-for-sale debt securities (192)                    
Net income (loss) (60,844)                    
Change in redemption value of redeemable noncontrolling interest (186,707)                    
Ending balance (in shares) at Jun. 30, 2024   17,899,586 59,930,000   17,899,586 59,930,000          
Ending balance at Jun. 30, 2024 (137,380)     (149,705) $ 2 $ 6   0 (262) (149,451) 12,325
Beginning balance at Mar. 31, 2024 135,140                    
Temporary Equity                      
Net Income (loss) (20,501)                    
Ending balance at Jun. 30, 2024 108,982                    
Beginning balance (in shares) at Mar. 31, 2024         17,892,021 59,930,000          
Beginning balance at Mar. 31, 2024 (134,297)     (149,509) $ 2 $ 6   0 (238) (149,279) 15,212
Permanent Equity                      
Contributions from non controlling interests 103                   103
Distributions to non controlling interests (3,734)                   (3,734)
Unrealized gains (losses) on available-for-sale debt securities (24)     (24)         (24)    
Net income (loss) (27,854)                    
Change in redemption value of redeemable noncontrolling interest 5,657     5,657       (291)   5,948  
Net Income (loss) (7,353)     (5,153)           (5,153) (2,200)
Ending balance (in shares) at Jun. 30, 2024   17,899,586 59,930,000   17,899,586 59,930,000          
Ending balance at Jun. 30, 2024 $ (137,380)     $ (149,705) $ 2 $ 6   $ 0 $ (262) $ (149,451) $ 12,325
[1] 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)