Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

v3.22.2.2
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2022
Dec. 31, 2021
Current assets:    
Cash and cash equivalents $ 285,498 $ 784,574
Accounts receivable, net 127,354 79,403
Other receivables 8,920 8,061
Parts and supplies inventories, net 18,127 9,410
Aircraft inventory 33,231 0
Aircraft held for sale 20,113 18,101
Prepaid expenses 38,561 21,789
Other current assets 19,790 11,736
Total current assets 551,594 933,074
Property and equipment, net 387,802 317,836
Operating lease right-of-use assets 111,250 108,582
Goodwill 521,847 437,398
Intangible assets, net 146,881 146,959
Restricted cash 26,416 2,148
Other non-current assets 63,948 35,067
Total assets 1,809,738 1,981,064
Current liabilities:    
Accounts payable 48,962 43,672
Accrued expenses 128,557 107,153
Deferred revenue, current 966,367 933,527
Operating lease liabilities, current 30,051 31,617
Intangible liabilities, current 2,000 2,000
Other current liabilities 18,126 17,068
Total current liabilities 1,194,063 1,135,037
Deferred revenue, non-current 1,885 1,957
Operating lease liabilities, non-current 87,027 83,461
Warrant liability 2,003 10,268
Intangible liabilities, non-current 12,583 14,083
Other non-current liabilities 2,742 30
Total liabilities 1,300,303 1,244,836
Commitments and contingencies (Note 11)
Equity:    
Class A common stock, $0.0001 par value; 2,500,000,000 authorized; 248,131,546 shares issued and 245,744,961 shares outstanding as of September 30, 2022; and 245,834,569 shares issued and outstanding as of December 31, 2021 25 25
Additional paid-in capital 1,522,368 1,450,839
Accumulated deficit (988,964) (720,713)
Accumulated other comprehensive loss (16,647) 0
Treasury stock, at cost, 2,386,585 and 0 shares, respectively (7,347) 0
Total Wheels Up Experience Inc. stockholders’ equity 509,435 730,151
Non-controlling interests 0 6,077
Total equity 509,435 736,228
Total liabilities and equity $ 1,809,738 $ 1,981,064