Revenue and Related Contract Costs and Contract Liabilities (Tables)

6 Months Ended

Jun. 30, 2022

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, 2021	$	39,662
Cash additions		93,013
Revenue recognized		(58,618	)
Foreign exchange translation adjustment		(7,121	)
Balance at June 30, 2022	$	66,936

Summary of Changes in Contract Costs

Changes to contract costs are as follows:

(in thousands)
Balance at December 31, 2021	$	13,790
Additions		32,034
Expenses		(20,584	)
Foreign exchange translation adjustment		(485	)
Balance at June 30, 2022	$	24,755

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

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

Pursuit

During the first quarter of 2022, we reallocated certain ancillary revenue presented in Pursuit’s services revenue to better align with how we analyze revenue and depict the nature of revenue. All prior periods have been reclassified to conform to this new presentation.

	Three Months Ended				Six Months Ended
	June 30,				June 30,
(in thousands)	2022		2021		2022		2021
Services:
Ticket revenue	$	29,337	$	10,105	$	38,539	$	11,589
Rooms revenue		20,559		11,370		27,462		16,139
Transportation		3,755		923		4,934		1,460
Other		3,017		2,547		4,387		3,642
Total services revenue		56,668		24,945		75,322		32,830
Products:
Food and beverage		12,171		5,899		16,264		7,123
Retail operations		8,760		5,469		9,797		6,150
Total products revenue		20,931		11,368		26,061		13,273
Total revenue	$	77,599	$	36,313	$	101,383	$	46,103
Timing of revenue recognition:
Services transferred over time	$	56,668	$	24,945	$	75,322	$	32,830
Products transferred at a point in time		20,931		11,368		26,061		13,273
Total revenue	$	77,599	$	36,313	$	101,383	$	46,103
Markets:
Banff Jasper Collection	$	38,962	$	10,658	$	53,292	$	19,118
Alaska Collection		13,319		11,058		13,816		11,347
Glacier Park Collection		13,581		10,968		14,590		11,546
FlyOver		5,870		735		10,009		1,198
Sky Lagoon		5,867		2,894		9,676		2,894
Total revenue	$	77,599	$	36,313	$	101,383	$	46,103

GES

During the first quarter of 2022, we changed our segment reporting as a result of operational changes and how our CODM reviews the financial performance of GES and makes decisions regarding the allocation of resources. Accordingly, GES’ new reportable segments are Spiro and GES Exhibitions. As a result, we changed certain items in the following disaggregation of revenue table. All prior periods have been reclassified to conform to the new reporting structure.

	Three Months Ended						Six Months Ended
	June 30,						June 30,
(in thousands)	2022			2021			2022			2021
Service lines:
Spiro	$	89,425		$	11,944		$	132,241		$	24,003
GES Exhibitions		154,600			13,057			266,431			20,209
Intersegment eliminations		(2,421	)		(81	)		(3,492	)		(147	)
Total revenue	$	241,604		$	24,920		$	395,180		$	44,065
Timing of revenue recognition:
Services transferred over time	$	197,464		$	21,361		$	329,947		$	38,376
Products transferred over time(1)		16,025			733			23,963			1,150
Products transferred at a point in time		28,115			2,826			41,270			4,539
Total revenue	$	241,604		$	24,920		$	395,180		$	44,065
Geographical markets:
North America	$	189,670		$	19,472		$	318,697		$	35,330
EMEA		58,534			6,074			84,347			9,977
Intersegment eliminations		(6,600	)		(626	)		(7,864	)		(1,242	)
Total revenue	$	241,604		$	24,920		$	395,180		$	44,065

(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.