Company: PRSU
Filing Date: 2025-03-17
Form Type: 10-K
Source: 0000950170-25-040127
Chunk: 157

Company: Pursuit Attractions & Hospitality, Inc.
Filing Date: 2025-03-17
Form: 10-K
Item: Item 8
Chunk 157
---
 to the intangible assets acquired for the Glacier Raft Company:

        (in thousands)
         
        Amount

        Weighted Average Life

        Customer relationships
         
        $
        1,800

        12 years

        Operating licenses

        1,300

        17 years

        Trade name

        300

        8 years

        Total
         
        $
        3,400

        14 years
       
      Transaction costs associated with the acquisition were $0.2 million in 2022, which are included in “Costs of services” in the Consolidated Statements of Operations. The results of operations of Glacier Raft Company have been included in the consolidated financial statements from the date of acquisition. Pro forma information is not presented as revenue and the operating results of Glacier Raft Company, as if the acquisition occurred on January 1, 2022, was not material to our consolidated financial statements for the year ended December 31, 2022.

      NOTE 5. DISCONTINUED OPERATIONS
     
    On October 20, 2024, Pursuit (formerly known as Viad Corp) entered into a Purchase Agreement with Truelink Capital, pursuant to which Truelink Capital agreed to purchase all of the outstanding equity interests held by the Company in its subsidiaries comprising the GES Business. On December 31, 2024, we completed the sale of the GES Business to Truelink Capital and relaunched as Pursuit Attractions and Hospitality, Inc., a standalone attractions and hospitality company with a singular focus on delivering unforgettable experiences in iconic destinations. We determined that the sale of the GES Business met the criteria under ASC 205-20 to be classified as a discontinued operation as the sale represents a strategic shift that will have a significant effect on our operations and financial results. Accordingly, the Consolidated Statements of Operations and Consolidated Balance Sheets have been adjusted for all prior periods to reflect the GES Business as discontinued operations.

45

PURSUIT ATTRACTIONS AND HOSPITALITY, INC.NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

The following table summarizes the results of the GES Business presented within discontinued operations in the Consolidated Statements of Operations:

        Year Ended December 31,

        (in thousands)
         
        2024

        2023

        2022

        Revenue:

        Services
         
        $
        849,937

        $