Quarterly report pursuant to Section 13 or 15(d)

REVENUE (Tables)

v3.21.2
REVENUE (Tables)
9 Months Ended
Sep. 30, 2021
Revenue from Contract with Customer [Abstract]  
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,
2021 2020 2021 2020
Services transferred at a point in time:
Flights, net of discounts and fees $ 218,360  $ 140,280  $ 621,494  $ 343,571 
Aircraft management 55,388  36,107  151,405  87,737 
Other 6,679  2,313  16,418  6,609 
Services transferred over time:
Memberships 17,982  13,345  49,144  39,787 
Aircraft management 2,617  2,295  7,435  5,679 
Other 952  441  3,319  1,825 
Total $ 301,978  $ 194,781  $ 849,215  $ 485,208 
Contract with Customer, Contract Asset, Contract Liability, and Receivable
Deferred revenue consists of the following (in thousands):
  September 30, 2021 December 31, 2020
Flights - Prepaid Blocks and jet cards $ 538,695  $ 609,490 
Memberships - annual dues 36,771  32,016 
Memberships - initiation fees 4,034  3,870 
Flights - credits 6,780  7,291 
Other 987  411 
Deferred revenue - total 587,267  653,078 
Less: Deferred revenue - current (585,319) (651,096)
Deferred revenue - non-current $ 1,948  $ 1,982 
Changes in deferred revenue for the nine months ended September 30, 2021 were as follows (in thousands):
Deferred revenue - beginning balance $ 653,078 
Amounts deferred during the period 611,985 
Revenue recognized from amounts included in the deferred revenue beginning balance (368,922)
Revenue from current period sales (308,874)
Deferred revenue - ending balance $ 587,267