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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 363,177 $ 585,881
Accounts receivable, net 107,659 112,383
Parts and supplies inventories, net 39,326 29,000
Aircraft inventory 10,368 24,826
Prepaid expenses 47,356 39,715
Other current assets 35,243 27,814
Total current assets 603,129 819,619
Property and equipment, net 398,710 394,559
Operating lease right-of-use assets 99,036 106,735
Goodwill 350,233 348,118
Intangible assets, net 136,189 141,765
Other non-current assets 123,166 112,429
Total assets 1,710,463 1,923,225
Current liabilities:    
Current maturities of long-term debt 27,006 27,006
Accounts payable 42,225 43,166
Accrued expenses 137,718 148,947
Deferred revenue, current 975,735 1,075,133
Other current liabilities 48,964 49,968
Total current liabilities 1,231,648 1,344,220
Long-term debt, net 220,397 226,234
Operating lease liabilities, non-current 77,138 82,755
Other non-current liabilities 18,093 18,096
Total liabilities 1,547,276 1,671,305
Commitments and contingencies (Note 13)
Equity:    
Class A common stock, $0.0001 par value; 2,500,000,000 authorized; 254,258,113 and 251,982,984 shares issued and 251,613,698 and 249,338,569 common shares outstanding as of as of March 31, 2023 and December 31, 2022, respectively 25 25
Additional paid-in capital 1,556,718 1,545,508
Accumulated deficit (1,376,739) (1,275,873)
Accumulated other comprehensive loss (9,130) (10,053)
Treasury stock, at cost, 2,644,415 and 2,644,415 shares, respectively (7,687) (7,687)
Total Wheels Up Experience Inc. stockholders’ equity 163,187 251,920
Non-controlling interests 0 0
Total equity 163,187 251,920
Total liabilities and equity $ 1,710,463 $ 1,923,225