Company: UP
Filing Date: 2025-03-11
Form Type: 10-K
Source: 0001819516-25-000012
Chunk: 248

Company: Wheels Up Experience Inc.
Filing Date: 2025-03-11
Form: 10-K
Item: Item 8
Chunk 248
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 inventory12,063 3,923 — Loss on extinguishment of debt17,714 4,401 — Gain on sale of aircraft held for sale(4,622)(16,939)(4,375)Impairment of goodwill— 126,200 180,000 Other(4,796)4,893 1,575 Changes in assets and liabilities:Accounts receivable2,794 30,062 (23,946)Other receivables4,349 (3,164)2,537 Parts and supplies inventories2,861 4,686 (21,693)Aircraft inventory1,673 11,010 (29,470)Prepaid expenses30,117 (17,315)(3,058)Other non-current assets33,803 (32,289)(41,555)Operating lease liabilities, net(1,322)(552)(490)Accounts payable(2,882)(8,089)(9,702)Accrued expenses(11,233)(35,110)19,143 Deferred revenue25,383 (348,419)103,313 Other assets and liabilities(1,537)2,890 (1,715)Net cash used in operating activities(77,888)(665,285)(230,689)Cash flows from investing activities:Purchases of property and equipment(122,811)(20,168)(83,559)Acquisition of businesses, net of cash acquired— — (75,093)Proceeds from sale of divested business7,894 13,200 — Purchases of aircraft held for sale(2,408)(4,240)(40,105)Proceeds from sale of aircraft held for sale, net85,560 68,308 51,208 Other105 267 — Capitalized software development costs(15,021)(16,497)(27,693)Net cash (used in) provided by investing activities(46,681)40,870 (175,242)Cash flows from financing activities:Purchase of shares for treasury(485)(28)(7,687)Purchase of fractional shares— (3)— Proceeds from notes payable— 70,000 — Repayment of notes payable— (70,000)— Proceeds from long-term debt327,201 382,200 259,200 Payment of debt issuance costs