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GOODWILL AND INTANGIBLE ASSETS (Tables) | 3 Months Ended
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Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
Schedule of Goodwill | The following table presents goodwill carrying value and the change in balance, by reporting unit, during the three months ended March 31, 2023 (in thousands):
| WUP Legacy |  | Air Partner |  | Total
Balance as of December 31, 2022(1) | $ | 270,467 |  |  | $ | 77,651 |  |  | $ | 348,118 |
Acquisitions(2) | — |  |  | 350 |  |  | 350 |
Foreign currency translation adjustment | — |  |  | 1,765 |  |  | 1,765 |
Balance as of March 31, 2023 | $ | 270,467 |  |  | $ | 79,766 |  |  | $ | 350,233 |
(1) Net of accumulated impairment losses of $180 million, all of which was recognized on the goodwill attributable to the WUP Legacy reporting unit during the year ended December 31, 2022. (2) Reflects the current period impact of measurement period adjustments (See Note 4).
Schedule of Intangible Assets | The gross carrying value, accumulated amortization and net carrying value of intangible assets consisted of the following (in thousands):
| March 31, 2023
| Gross Carrying Value |  | Accumulated Amortization |  | Net Carrying Value
Status | $ | 80,000 |  |  | $ | 25,645 |  |  | $ | 54,355 |
Customer relationships | 91,121 |  |  | 27,349 |  |  | 63,772 |
Non-competition agreement | 210 |  |  | 210 |  |  | — |
Trade name | 16,161 |  |  | 8,636 |  |  | 7,525 |
Developed technology | 20,556 |  |  | 10,082 |  |  | 10,474 |
Leasehold interest - favorable | 600 |  |  | 85 |  |  | 515 |
Backlog | 1,458 |  |  | 1,024 |  |  | 434 |
Foreign currency translation adjustment | (1,219) |  |  | (333) |  |  | (886) |
Total | $ | 208,887 |  |  | $ | 72,698 |  |  | $ | 136,189 |
| December 31, 2022
| Gross Carrying Value |  | Accumulated Amortization |  | Net Carrying Value
Status | $ | 80,000 |  |  | $ | 23,644 |  |  | $ | 56,356 |
Customer relationships | 91,121 |  |  | 24,613 |  |  | 66,508 |
Non-competition agreement | 210 |  |  | 210 |  |  | — |
Trade name | 16,161 |  |  | 8,294 |  |  | 7,867 |
Developed technology | 20,556 |  |  | 9,332 |  |  | 11,224 |
Leasehold interest - favorable | 600 |  |  | 80 |  |  | 520 |
Backlog | 1,458 |  |  | 880 |  |  | 578 |
Foreign currency translation adjustment | (1,662) |  |  | (374) |  |  | (1,288) |
Total | $ | 208,444 |  |  | $ | 66,679 |  |  | $ | 141,765 |
Schedule of Intangible Liabilities | The gross carrying value, accumulated amortization and net carrying value of intangible liabilities consisted of the following (in thousands):
| March 31, 2023
| Gross Carrying Value |  | Accumulated Amortization |  | Net Carrying Value
Intangible liabilities | $ | 20,000 |  |  | $ | 6,417 |  |  | $ | 13,583 |
| December 31, 2022
| Gross Carrying Value |  | Accumulated Amortization |  | Net Carrying Value
Intangible liabilities | $ | 20,000 |  |  | $ | 5,917 |  |  | $ | 14,083 |
Schedule of Future Amortization Expense of Intangible Assets and Intangible Liabilities | Future amortization expense of intangible assets and intangible liabilities held as of March 31, 2023, were as follows (in thousands):
| Intangible Assets |  | Intangible Liabilities
Remainder of 2023 | $ | 17,757 |  |  | $ | 1,500 |
2024 | 22,969 |  |  | 2,000 |
2025 | 22,555 |  |  | 2,000 |
2026 | 21,694 |  |  | 2,000 |
2027 | 17,193 |  |  | 2,000 |
2028 and Thereafter | 34,021 |  |  | 4,083 |
Total | $ | 136,189 |  |  | $ | 13,583 |

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