Company: PRSU
Filing Date: 2025-03-17
Form Type: 10-K
Source: 0000950170-25-040127
Chunk: 158

Company: Pursuit Attractions & Hospitality, Inc.
Filing Date: 2025-03-17
Form: 10-K
Item: Item 8
Chunk 158
---
ES Business. All of the interest expense and related debt issuance costs of the $400 million term loan were allocated to discontinued operations, and interest expense and debt issuance costs related to the $170 million revolving credit facility were allocated based on a ratio of net assets of the GES Business to the sum of our consolidated net assets and consolidated debt. We allocated interest expense to discontinued operations of $39.1 million in 2024, $42.4 million in 2023, and $30.6 million in 2022.We incurred transaction costs of $14.9 million in connection with the sale of the GES Business during the year ended December 31, 2024, which are included in “Cost of services” in the Consolidated Statements of Operations as discontinued operations. These costs primarily include third-party advisory, consulting, legal, and professional fees.

46

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

The following table summarizes the assets and liabilities of the discontinued operations:

        December 31,

        (in thousands)
         
        2023

        Assets

        Current assets

        Cash and cash equivalents
         
        $
        25,269

        Accounts receivable, net

        119,807

        Inventories

        681

        Current contract costs

        20,202

        Prepaid insurance

        25

        Other current assets

        11,088

        Total current assets of discontinued operations

        177,072

        Property and equipment, net

        38,241

        Other investments and assets

        12,461

        Operating lease right-of-use assets

        75,054

        Deferred income taxes

        1,826

        Other intangible assets, net

        1,120

        Total non-current assets of discontinued operations

        128,702

        Total assets of discontinued operations
         
        $
        305,774

        Current liabilities

        Accounts payable
         
        $
        62,671

        Contract liabilities

        40,517

        Accrued compensation

        21,736

        Operating lease obligations

        14,078

        Other current liabilities

        30,430

        Current portion of debt and finance obligations

        1,785

        Total current liabilities of discontinued operations

        171,217