Revenue and Related Contract Costs and Contract Liabilities (Tables)

12 Months Ended

Dec. 31, 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, 2020	$	18,618
Cash additions		147,814
Revenue recognized		(126,573	)
Foreign exchange translation adjustment		(197	)
Balance at December 31, 2021		39,662
Cash additions		158,567
Revenue recognized		(151,408	)
Foreign exchange translation adjustment		(2,064	)
Balance at December 31, 2022	$	44,757

Summary of Changes in Contract Costs

Changes to contract costs are as follows:

(in thousands)
Balance at December 31, 2020	$	10,835
Additions		31,923
Expenses		(27,935	)
Cancelled		(976	)
Foreign exchange translation adjustment		(57	)
Balance at December 31, 2021		13,790
Additions		62,038
Expenses		(58,561	)
Foreign exchange translation adjustment		(699	)
Balance at December 31, 2022	$	16,568

Disaggregate Pursuit and GES 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.

	Year Ended December 31,
(in thousands)	2022		2021		2020
Services:
Ticket revenue	$	114,936	$	61,166	$	19,939
Rooms revenue		77,019		57,603		26,383
Transportation		12,460		5,591		2,694
Other		14,143		8,564		3,567
Total services revenue		218,558		132,924		52,583
Products:
Food and beverage		47,275		28,953		10,295
Retail operations		33,494		25,171		13,932
Total products revenue		80,769		54,124		24,227
Total revenue	$	299,327	$	187,048	$	76,810
Timing of revenue recognition:
Services transferred over time	$	218,558	$	132,924	$	52,583
Products transferred at a point in time		80,769		54,124		24,227
Total revenue	$	299,327	$	187,048	$	76,810
Markets:
Banff Jasper Collection	$	152,863	$	82,728	$	46,913
Alaska Collection		39,434		37,344		6,282
Glacier Park Collection		57,760		45,276		17,596
FlyOver		24,445		10,693		6,019
Sky Lagoon(1)		24,825		11,007		—
Total revenue	$	299,327	$	187,048	$	76,810

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

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.

	Year Ended December 31,
(in thousands)	2022			2021			2020
Service lines:
Spiro	$	277,641		$	116,587		$	102,027
GES Exhibitions		557,880			209,529			238,705
Intersegment eliminations		(7,537	)		(5,824	)		(2,107	)
Total revenue	$	827,984		$	320,292		$	338,625
Timing of revenue recognition:
Services transferred over time	$	693,482		$	268,218		$	298,945
Products transferred over time(1)		51,134			18,551			15,517
Products transferred at a point in time		83,368			33,523			24,163
Total revenue	$	827,984		$	320,292		$	338,625
Geographical markets:
North America	$	675,628		$	243,983		$	288,921
EMEA		176,086			82,242			53,384
Intersegment eliminations		(23,730	)		(5,933	)		(3,680	)
Total revenue	$	827,984		$	320,292		$	338,625

(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.