Annual report pursuant to Section 13 and 15(d)

Basis of Presentation and Summary of Significant Accounting Policies (Tables)

v2.4.0.8
Basis of Presentation and Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2013
Accounting Policies [Abstract]  
Schedule of Accounts Receivable
The following table provides a reconciliation in the change in the Company’s allowance for doubtful accounts for the years ended December 31st (in thousands):
 
Year ended December 31,
 
2013
 
2012
 
2011
Accounts receivable, gross
$
66,145

 
$
8,299

 
$
4,423

Less: Allowance for doubtful accounts
$
(1,929
)
 
$
(7
)
 
$
(7
)
Accounts receivable, net
$
64,216

 
$
8,292

 
$
4,416

Fair Value Measurements, Recurring and Nonrecurring
The following tables summarize the Company's financial assets and liabilities measured at fair value on a recurring basis as of December 31, 2013, and December 31, 2012, respectively (in thousands):

 
December 31, 2013
 
Quotes Prices in Active Markets (Level 1)
 
 Significant Other Observable Inputs (Level 2)
 
 Significant Other Unobservable Inputs (Level 3)
Earn-out liability (1)
$
1,421

 
$
—

 
$
—

 
$
1,421

Global Eagle warrants (2)
71,570

 
71,570

 
—

 
—

Total financial liabilities
$
72,991

 
$
71,570

 
$
—

 
$
1,421


(1) Includes $1.4 million earn-out liability for EIM, a subsidiary of AIA assumed in the Business Combination.
(2) Includes 15,571,050 public warrants and 333,333 sponsor warrants.

 
December 31, 2012
 
Quotes Prices in Active Markets (Level 1)
 
 Significant Other Observable Inputs (Level 2)
 
 Significant Other Unobservable Inputs (Level 3)
Series C warrants
$
5,482

 
$
—

 
$
—

 
$
5,482

Common stock warrants
2,696

 
—

 
—

 
2,696

Total financial liabilities
$
8,178

 
$
—

 
$
—

 
$
8,178

Fair Value, by Balance Sheet Grouping
The following table shows both the carrying amounts, which approximate the fair values, of the Company's financial assets and liabilities in the consolidated financial statements at December 31, 2013 and December 31, 2012, respectively (in thousands):

 
December 31, 2013
 
December 31, 2012
 
Carrying Amount
 
Fair Value
 
Carrying Amount
 
Fair Value
Financial Liabilities:
 
 
 
 
 
 
 
Notes Payable
$
10,801

 
$
10,801

 
$
—

 
$
—

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation
The following tables present the fair value roll-forward reconciliation of level 3 assets and liabilities measured at fair value basis for the year ended December 31, 2013, and 2012, respectively (in thousands):

 
Series C Warrants
 
Common Stock Warrants
 
Earn-Out Liabilities
 
Total
Balance, December 31, 2012
$
5,482

 
$
2,696

 
$
—

 
$
8,178

  Reclassification to equity
(2,879
)
 
(2,696
)
 
—

 
(5,575
)
  Change in value
132

 
—

 
—

 
132

Elimination of Row 44 Series C-1 Preferred Warrants held by AIA
(2,735
)
 
—

 
—

 
(2,735
)
Level 3 EIM earn-out liability
—

 
—

 
1,421

 
1,421

Balance, December 31, 2013
$
—

 
$
—

 
$
1,421

 
$
1,421


 
Series C Warrants
 
Common Stock Warrants
 
Earn-Out Liability
 
Total
Balance, December 31, 2011
$
—

 
$
—

 
$
—

 
$
—

Issuance of warrants
4,323

 
279

 
—

 
4,602

  Change in value
1,159

 
2,417

 
—

 
3,576

Balance, December 31 2012
$
5,482

 
$
2,696

 
$
—

 
$
8,178