Segment Information (Tables)

9 Months Ended

Sep. 30, 2022

Segment Reporting [Abstract]

Reconciliation of income statement items from reportable segments

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

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
(in thousands)	2022			2021			2022			2021
Revenue:
Pursuit	$	163,796		$	117,555		$	265,179		$	163,658
GES:
Spiro		73,277			37,866			205,518			61,869
GES Exhibitions		147,872			81,138			414,303			101,347
GES intersegment eliminations		(2,224	)		(2,960	)		(5,716	)		(3,107	)
Total GES		218,925			116,044			614,105			160,109
Total revenue	$	382,721		$	233,599		$	879,284		$	323,767
Segment operating income (loss):
Pursuit	$	64,710		$	49,601		$	49,083		$	23,183
GES:
Spiro		3,720			(399	)		18,328			(14,779	)
GES Exhibitions		2,870			(9,100	)		17,788			(41,521	)
Total GES		6,590			(9,499	)		36,116			(56,300	)
Segment operating income (loss)		71,300			40,102			85,199			(33,117	)
Corporate eliminations (1)		17			17			51			52
Corporate activities		(3,768	)		(3,093	)		(9,881	)		(8,104	)
Interest expense, net		(10,252	)		(9,518	)		(23,890	)		(20,168	)
Other expense, net		(280	)		(466	)		(1,530	)		(1,563	)
Restructuring charges:
Pursuit		—			(32	)		—			(55	)
Spiro		(71	)		(422	)		(1,297	)		(598	)
GES Exhibitions		(1,316	)		(1,707	)		(2,140	)		(5,101	)
Corporate		—			(25	)		(30	)		(45	)
Impairment charges:
GES Exhibitions		—			—			(583	)		—
Income (loss) from continuing operations before income taxes	$	55,630		$	24,856		$	45,899		$	(68,699	)

(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.

Reconciliation of assets from reportable segments

Additional information of our reportable segments is as follows:

	Three Months Ended				Nine Months Ended September 30,
	September 30,				September 30,
(in thousands)	2022		2021		2022		2021
Depreciation:
Pursuit	$	7,501	$	6,734	$	23,149	$	19,737
Spiro		912		1,158		2,693		3,687
GES Exhibitions		2,058		2,866		6,419		8,886
Corporate		9		6		27		30
	$	10,480	$	10,764	$	32,288	$	32,340
Amortization:
Pursuit	$	1,351	$	1,462	$	3,846	$	3,931
Spiro		57		131		160		383
GES Exhibitions		1,068		1,119		3,148		3,332
	$	2,476	$	2,712	$	7,154	$	7,646
Capital expenditures:
Pursuit	$	20,178	$	19,121	$	48,888	$	42,740
Spiro		1,042		107		1,628		401
GES Exhibitions		1,898		1,059		4,146		1,761
Corporate and other		13		137		108		285
	$	23,131	$	20,424	$	54,770	$	45,187