XML 38 R26.htm IDEA: XBRL DOCUMENT
v3.23.1

REVENUE RECOGNITION (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2023
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 March 31, |  |
| 2023 |  | 2022 |  |  |  |
Services transferred at a point in time: |  |  |  |  |  |  |
Flights, net of discounts and incentives | $ | 231,762 |  |  | $ | 236,363 |  |  |  |  |
Aircraft management | 61,242 |  |  | 58,049 |  |  |  |  |
Other | 31,807 |  |  | 7,178 |  |  |  |  |
Services transferred over time: |  |  |  |  |  |  |
Memberships | 21,680 |  |  | 20,647 |  |  |  |  |
Aircraft management | 2,452 |  |  | 2,457 |  |  |  |  |
Other | 2,869 |  |  | 941 |  |  |  |  |
Total | $ | 351,812 |  |  | $ | 325,635 |  |  |  |  |
Schedule of Accounts Receivable Net | Accounts receivable, net consists of the following (in thousands):
| March 31, 2023 |  | December 31, 2022
Gross receivables from members and customers | $ | 108,890 |  |  | $ | 112,243 |
Undeposited funds | 6,404 |  |  | 10,122 |
Less: Allowance for credit losses | (7,635) |  |  | (9,982) |
Accounts receivable, net | $ | 107,659 |  |  | $ | 112,383 |
Schedule of Deferred Revenue | Deferred revenue consists of the following (in thousands):
| March 31, 2023 |  | December 31, 2022
Flights - Prepaid Blocks | $ | 927,607 |  |  | $ | 1,023,985 |
Memberships - annual dues | 41,624 |  |  | 43,970 |
Memberships - initiation fees | 3,677 |  |  | 3,899 |
Flights - credits | 2,423 |  |  | 4,246 |
Other | 2,096 |  |  | 775 |
Deferred revenue - total | 977,427 |  |  | 1,076,875 |
Less: Deferred revenue - current | (975,735) |  |  | (1,075,133) |
Deferred revenue - non-current | $ | 1,692 |  |  | $ | 1,742 |
Changes in deferred revenue for the three months ended March 31, 2023 were as follows (in thousands):
Deferred revenue as of December 31, 2022 | $ | 1,076,875 |
Amounts deferred during the period | 173,226 |
Revenue recognized from amounts included in the deferred revenue beginning balance | (219,462) |
Revenue from current period sales | (53,212) |
Deferred revenue as of March 31, 2023 | $ | 977,427 |
Schedule of Revenue Expected to be Recognized in Future Periods | Revenue expected to be recognized in future periods for performance obligations that are unsatisfied, or partially unsatisfied, as of March 31, 2023 were as follows (in thousands):
Remainder of 2023 | $ | 478,252 |
2024 | 323,290 |
2025 | 88,253 |
2026 | 87,632 |
Total | $ | 977,427 |

X
- Definition Tabular disclosure of receivable, contract asset, and contract liability from contract with customer. Includes, but is not limited to, change in contract asset and contract liability. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 10 -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130551-203045 + Details
Name: | us-gaap_ContractWithCustomerAssetAndLiabilityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 5 -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130545-203045 + Details
Name: | us-gaap_DisaggregationOfRevenueTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_RevenueFromContractWithCustomerAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of expected timing for satisfying remaining performance obligation. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (b)(1) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130556-203045 + Details
Name: | us-gaap_RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the various types of trade accounts and notes receivable and for each the gross carrying value, allowance, and net carrying value as of the balance sheet date. Presentation is categorized by current, noncurrent and unclassified receivables. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.3,4) -URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
Name: | us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration