Revenue and Related Contract Costs and Contract Liabilities (Tables)

9 Months Ended

Sep. 30, 2024

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, 2023	$	53,322
Cash additions		266,582
Revenue recognized		(252,230	)
Foreign exchange translation adjustment		693
Balance at September 30, 2024	$	68,367

Summary of Changes in Contract Costs

Changes to contract costs are as follows:

(in thousands)
Balance at December 31, 2023	$	21,974
Additions		76,206
Expenses		(65,989	)
Foreign exchange translation adjustment		629
Balance at September 30, 2024	$	32,820

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

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(in thousands)	2024		2023		2024		2023
Services:
Ticket revenue	$	75,330	$	71,741	$	136,842	$	122,545
Rooms revenue		42,020		48,674		74,202		78,370
Transportation		4,990		6,010		10,183		11,644
Other		10,648		8,994		16,795		13,694
Total services revenue		132,988		135,419		238,022		226,253
Products:
Food and beverage		26,135		28,394		47,703		47,897
Retail operations		23,134		23,127		34,964		33,927
Total products revenue		49,269		51,521		82,667		81,824
Total revenue	$	182,257	$	186,940	$	320,689	$	308,077
Timing of revenue recognition:
Services transferred over time	$	132,988	$	135,419	$	238,022	$	226,253
Products transferred at a point in time		49,269		51,521		82,667		81,824
Total revenue	$	182,257	$	186,940	$	320,689	$	308,077
Markets:
Banff Jasper Collection	$	80,700	$	96,503	$	152,502	$	161,022
Alaska Collection		29,238		26,846		43,897		40,000
Glacier Park Collection		46,408		42,806		63,152		57,991
FlyOver		12,426		9,675		27,148		22,550
Sky Lagoon		13,485		11,110		33,990		26,514
Total revenue	$	182,257	$	186,940	$	320,689	$	308,077

GES

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
(in thousands)	2024			2023			2024			2023
Service lines:
Spiro	$	82,205		$	58,887		$	242,585		$	199,617
GES Exhibitions		194,806			122,115			551,623			446,146
Intersegment eliminations		(3,564	)		(2,043	)		(7,158	)		(6,839	)
Total revenue	$	273,447		$	178,959		$	787,050		$	638,924
Timing of revenue recognition:
Services transferred over time	$	242,248		$	149,700		$	674,104		$	539,345
Products transferred over time (1)		15,137			13,518			48,108			42,497
Products transferred at a point in time		16,062			15,741			64,838			57,082
Total revenue	$	273,447		$	178,959		$	787,050		$	638,924
Geographical markets:
North America	$	237,484		$	148,569		$	647,465		$	506,816
EMEA		52,406			42,325			182,542			154,506
Intersegment eliminations		(16,443	)		(11,935	)		(42,957	)		(22,398	)
Total revenue	$	273,447		$	178,959		$	787,050		$	638,924

(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.