Quarterly report pursuant to Section 13 or 15(d)

REVENUE (Tables)

v3.22.2.2
REVENUE (Tables)
9 Months Ended
Sep. 30, 2022
Revenue from Contract with Customer [Abstract]  
Schedule of Disaggregation of Revenue
The following table disaggregates revenue by service type and the timing of when these services are provided to the member or customer (in thousands):
Three Months Ended September 30, Nine Months Ended September 30,
2022 2021 2022 2021
Services transferred at a point in time:
Flights, net of discounts and incentives $ 278,917  $ 218,360  $ 799,351  $ 621,494 
Aircraft management 56,558  55,388  172,914  151,405 
Other 58,728  6,679  121,695  16,418 
Services transferred over time:
Memberships 22,409  17,982  67,076  49,144 
Aircraft management 2,404  2,617  7,272  7,435 
Other 1,340  952  3,195  3,319 
Total $ 420,356  $ 301,978  $ 1,171,503  $ 849,215 
Schedule of Deferred Revenue
Deferred revenue consists of the following (in thousands):
  September 30, 2022 December 31, 2021
Flights - Prepaid Blocks and jet cards $ 916,372  $ 876,750 
Memberships - annual dues 42,688  47,069 
Memberships - initiation fees 4,119  4,072 
Flights - credits 4,438  6,633 
Other 635  960 
Deferred revenue - total 968,252  935,484 
Less: Deferred revenue - current (966,367) (933,527)
Deferred revenue - non-current $ 1,885  $ 1,957 
Changes in deferred revenue for the nine months ended September 30, 2022 were as follows (in thousands):
Deferred revenue - beginning balance $ 935,484 
Amounts deferred during the period 954,042 
Revenue recognized from amounts included in the deferred revenue beginning balance (509,962)
Revenue from current period sales (411,312)
Deferred revenue - ending balance $ 968,252