Quarterly report pursuant to Section 13 or 15(d)

ACQUISITIONS (Tables)

v3.21.2
ACQUISITIONS (Tables)
 9 Months Ended
Sep. 30, 2021
Business Combination and Asset Acquisition [Abstract]  
Schedule of Business Acquisitions, by Acquisition
As of the date of acquisition, the total preliminary purchase price allocated to the Mountain Aviation assets acquired and liabilities assumed according to their estimated fair values were as follows (in thousands):
Current assets $ 32,884 
Property and equipment 741 
Intangible assets 5,040 
Goodwill 37,021 
Other assets 45,874 
Total assets acquired 121,560 
Total liabilities assumed (81,388)
Net assets acquired $ 40,172 
Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination
The amounts allocated to acquired intangible assets and their associated weighted-average amortization periods, were determined based on the period the assets are expected to contribute directly or indirectly to our cash flows, consists of the following:
Amount
(In thousands)		 Weighted-Average Amortization Period
(Years)
Customer relationships $ 4,600  6.0
Trade name 330  1.0
Non-competition agreement 110  1.0
Total acquired intangible assets $ 5,040  5.8
Business Acquisition, Pro Forma Information
Three Months Ended September 30, Nine Months Ended September 30,
2021 2020 2021 2020
Net revenue $ 301,978  $ 226,266  $ 851,330  $ 616,894 
Net income (loss) $ (59,455) $ 19,081  $ (121,564) $ (55,652)
Net income (loss) attributable to Wheels Up Experience Inc. $ (58,617) $ 17,560  $ (115,401) $ (51,372)
Net income (loss) per share $ (0.25) $ 0.11  $ (0.60) $ (0.32)