Segment Information

9 Months Ended

Sep. 30, 2021

Segment Reporting [Abstract]

Segment Information

Note 23. Segment Information

We measure the profit and performance of our operations on the basis of segment operating income or loss, which excludes restructuring charges and recoveries and impairment charges. Intersegment sales are eliminated in consolidation and intersegment transfers are not significant. Corporate activities include expenses not allocated to operations. Depreciation and amortization and share-based compensation expense are the only significant non-cash items for the reportable segments.

During the first quarter of 2021, we reorganized GES’ operating segments to represent the changes in how our CODM reviews the financial performance of GES and makes decisions regarding the allocation of resources. Accordingly, GES is now a single reportable segment. We made no changes to the Pursuit reportable segment.

Our reportable segments, with reconciliations to consolidated totals, are as follows:

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
(in thousands)	2021			2020			2021			2020
Revenue:
GES	$	116,044		$	13,992		$	160,109		$	319,930
Pursuit		117,555			48,815			163,658			67,602
Total revenue	$	233,599		$	62,807		$	323,767		$	387,532
Segment operating income (loss):
GES	$	(9,499	)	$	(18,248	)	$	(56,300	)	$	(39,450	)
Pursuit		49,601			11,467			23,183			(26,499	)
Segment operating income (loss)		40,102			(6,781	)		(33,117	)		(65,949	)
Corporate eliminations (1)		17			16			52			48
Corporate activities		(3,093	)		(2,645	)		(8,104	)		(5,902	)
Interest expense, net		(9,518	)		(5,450	)		(20,168	)		(14,399	)
Multi-employer pension plan withdrawal		—			—			(57	)		(462	)
Other expense, net		(466	)		(210	)		(1,506	)		(894	)
Restructuring (charges) recoveries:
GES		(2,129	)		(10,686	)		(5,699	)		(11,371	)
Pursuit		(32	)		12			(55	)		(45	)
Corporate		(25	)		(585	)		(45	)		(954	)
Impairment charges:
GES		—			(676	)		—			(201,319	)
Pursuit		—			—			—			(1,757	)
Income (loss) from continuing operations before income taxes	$	24,856		$	(27,005	)	$	(68,699	)	$	(303,004	)

(1)Corporate eliminations represent the elimination of depreciation expense recorded by Pursuit associated with previously eliminated intercompany profit realized by GES for renovations to Pursuit’s Banff Gondola.