Property and Equipment

9 Months Ended

Sep. 30, 2022

Property, Plant and Equipment [Abstract]

Property and Equipment

Note 7. Property and Equipment

Property and equipment consisted of the following:

	September 30,			December 31,
(in thousands)	2022			2021
Land and land interests	$	31,579		$	30,532
Buildings and leasehold improvements		388,928			407,930
Equipment and other		443,317			413,684
Gross property and equipment		863,824			852,146
Accumulated depreciation		(377,542	)		(364,060	)
Property and equipment, net (excluding finance leases)		486,282			488,086
Finance lease ROU assets, net		57,216			61,022
Property and equipment, net	$	543,498		$	549,108

Depreciation expense was $10.5 million for the three months ended September 30, 2022 and $32.3 million for the nine months ended September 30, 2022. Depreciation expense was $10.8 million for the three months ended September 30, 2021 and $32.3 million for the nine months ended September 30, 2021.

Property and equipment purchased through accounts payable and accrued liabilities decreased $2.1 million during the nine months ended September 30, 2022 and decreased $0.3 million during the nine months ended September 30, 2021. Capitalized interest was $0.1 million for the three months ended September 30, 2022 and $2.7 million for the nine months ended September 30, 2022, which was primarily related to the development of Pursuit’s FlyOver attractions.