Company: SRFM
Filing Date: 2025-03-21
Form Type: 10-K
Source: 0000950170-25-043326
Chunk: 168

Company: SURF AIR MOBILITY INC.
Filing Date: 2025-03-21
Form: 10-K
Item: Item 1B
Chunk 168
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405

        Deferred revenue

        7,329

        8

        7,337

        Current maturities of long-term debt

        2,923

        2,923

        Operating lease liabilities, current

        3,624

        3,624

        Finance lease liabilities, current

        147

        147

        Due to related parties, current

        1,853

        1,853

        Long-term debt, net of current maturities

        24,123

        24,123

        Operating lease liabilities, long term

        6,836

        6,836

        Finance lease liabilities, long term

        175

        175

        Due to related parties, long term

        1,864

        1,864

        Deferred tax liability

        3,750

        906

        4,656

        Other noncurrent liabilities

        37

        37

        Total liabilities
         
        $
        68,715

        $
        914

        $
        69,629

        Fair value of net assets acquired

        23,786

        (1,882
        )

        21,904

        Goodwill

        58,163

        1,882

        60,045

        Total Purchase Consideration
         
        $
        81,949

        $
        —

        $
        81,949

       The Company provisionally allocated the purchase price to tangible and identified intangible assets acquired and liabilities assumed based on the preliminary estimates of their fair values, which were determined using generally accepted valuation techniques based on estimates and assumptions made by management using the best available information. Measurement period adjustmentsThe Company recorded measurement period adjustments to the provisional purchase price allocation due to additional information received since the acquisition date of July 27, 2023. The significant adjustments included a reduction to identified intangible assets for EAS route contracts and tradenames of $1.1 million, reductions in plant, property, and equipment of $0.3 million, increases in accounts receivable of $0.4 million, and an increase in deferred income tax liabilities of $0.9 million resulting from new information available to management that impacted the fair value of the assets acquired.Goodwill represents purchase consideration in excess of the fair value of net assets acquired. Factors that contribute to the recognition