Property and Equipment

6 Months Ended

Jun. 30, 2023

Property, Plant and Equipment [Abstract]

Note 7. Property and Equipment, Net

Property and equipment consisted of the following:


	June 30,			December 31,
(in thousands)	2023			2022
Land and land interests	$	31,083		$	30,902
Buildings and leasehold improvements		434,398			409,852
Equipment and other		429,987			413,485
Gross property and equipment		895,468			854,239
Accumulated depreciation		(386,083	)		(362,195	)
Property and equipment, net (excluding finance leases)		509,385			492,044
Finance lease ROU assets, net		57,732			57,534
Property and equipment, net	$	567,117		$	549,578

Depreciation expense was $10.5 million during the three months ended June 30, 2023 and $20.9 million during the six months ended June 30, 2023. Depreciation expense was $10.8 million during the three months ended June 30, 2022 and $21.8 million during the six months ended June 30, 2022.

Property and equipment purchased through accounts payable and accrued liabilities decreased $1.3 million during the six months ended June 30, 2023 and decreased $0.4 million during the six months ended June 30, 2022. Capitalized interest was $0.5 million during the three months ended June 30, 2023 and $0.7 million during the six months ended June 30, 2023. Capitalized interest was $0.7 million during the three months ended June 30, 2022 and $2.6 million during the six months ended June 30, 2022, which was primarily related to the development of Pursuit’s FlyOver attractions.