Revenue and Related Contract Costs and Contract Liabilities (Tables)

9 Months Ended

Sep. 30, 2021

Revenue From Contract With Customer [Abstract]

Summary of Changes in Contract Liabilities

Changes to contract liabilities are as follows:

(in thousands)
Balance at December 31, 2020	$	18,618
Cash additions		117,499
Revenue recognized		(90,638	)
Foreign exchange translation adjustment		(584	)
Balance at September 30, 2021	$	44,895

Summary of Changes in Contract Costs

Changes to contract costs are as follows:

(in thousands)
Balance at December 31, 2020	$	10,835
Additions		24,514
Expenses		(14,061	)
Cancelled		(709	)
Foreign exchange translation adjustment		(57	)
Balance at September 30, 2021	$	20,522

Disaggregate GES and Pursuit Revenue by Major Product Line Timing of Revenue Recognition and Markets Served

The following tables disaggregate GES and Pursuit revenue by major service and product lines, timing of revenue recognition, and markets served:

GES

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
(in thousands)	2021			2020			2021			2020
Service lines:
Exhibitions and Conferences	$	81,029		$	4,625		$	96,881		$	222,038
Brand experiences		31,009			8,895			55,194			85,831
Venue services		4,006			472			8,034			12,061
Total revenue	$	116,044		$	13,992		$	160,109		$	319,930
Timing of revenue recognition:
Services transferred over time	$	100,865		$	12,031		$	139,241		$	287,457
Products transferred over time(1)		6,509			247			7,659			13,442
Products transferred at a point in time		8,670			1,714			13,209			19,031
Total revenue	$	116,044		$	13,992		$	160,109		$	319,930
Geographical markets:
North America	$	92,648		$	11,686		$	127,978		$	272,391
EMEA		24,084			2,590			34,061			50,797
Intersegment eliminations		(688	)		(284	)		(1,930	)		(3,258	)
Total revenue	$	116,044		$	13,992		$	160,109		$	319,930

(1)GES’ graphics product revenue is earned over time over the duration of an event as it is considered a part of the single performance obligation satisfied over time.

Pursuit

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
(in thousands)	2021			2020			2021			2020
Services:
Admissions	$	39,480		$	12,229		$	51,069		$	17,865
Accommodations		37,553			18,021			54,742			23,994
Transportation		3,453			445			4,913			2,513
Travel planning and other		2,019			855			4,668			1,484
Intersegment eliminations		(406	)		(144	)		(463	)		(261	)
Total services revenue		82,099			31,406			114,929			45,595
Products:
Food and beverage		18,029			6,783			25,152			9,047
Retail operations		17,427			10,626			23,577			12,960
Total products revenue		35,456			17,409			48,729			22,007
Total revenue	$	117,555		$	48,815		$	163,658		$	67,602
Timing of revenue recognition:
Services transferred over time	$	82,099		$	31,406		$	114,929		$	45,595
Products transferred at a point in time		35,456			17,409			48,729			22,007
Total revenue	$	117,555		$	48,815		$	163,658		$	67,602
Markets:
Banff Jasper Collection	$	52,602		$	26,395		$	71,720		$	39,234
Alaska Collection		25,932			5,436			37,279			6,167
Glacier Park Collection		32,081			14,929			43,627			16,813
FlyOver		2,296			2,055			3,494			5,388
Sky Lagoon(1)		4,644			—			7,538			—
Total revenue	$	117,555		$	48,815		$	163,658		$	67,602

(1)We opened Pursuit’s new Sky Lagoon attraction on April 30, 2021 in Reykjavik, Iceland.