Company: PRSU
Filing Date: 2025-06-30
Form Type: 11-K
Source: 0000950170-25-091425
Chunk: 7

Company: Pursuit Attractions & Hospitality, Inc.
Filing Date: 2025-06-30
Form: 11-K
Chunk 7
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GAAP”).

Use of Estimates

The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of additions and deductions during the reporting period. Actual results could differ from those estimates.

Risks and Uncertainties

The Plan provides various investment options to the participants, including mutual funds, common stock, and common/collective trusts. Investment securities, in general, are exposed to various risks, such as interest rate, credit, and overall market volatility. Market risks include global events, which could impact the value of investment securities, such as a pandemic or international conflict. Due to the level of risk associated with certain investment securities, it is reasonably possible that changes in the values of investment securities will occur in the near term and that such changes could materially affect the value of the participants’ account balances and the amounts reported in the financial statements.

Included in investments are shares of Pursuit common stock valued at $28,088,944 as of December 31, 2024 and $23,742,685 as of December 31, 2023. These investments represented approximately 11% of total investments as of December 31, 2024 and 10% percent as of December 31, 2023.

Investment Valuation and Income Recognition

The Plan’s investments are stated at fair value. The fair value of a financial instrument is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Refer to Note 3 - Fair Value Measurements for further discussion.

Purchases and sales of securities are recorded on a trade-date basis. Dividends are recorded on the ex-dividend date, and interest income is recorded on an accrual basis. Net appreciation includes the Plan’s gains and losses on investments bought and sold as well as held during the year.

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Notes Receivable from Participants

Notes receivable from participants are measured at their unpaid principal balance, plus any accrued but unpaid interest. Delinquent participant loans are recorded as distributions based on the terms of the Plan document.

Contributions

Participant contributions and employer matching contributions are recorded during the period in which the corresponding payroll deductions are made.

Administrative Expenses

During 2024, certain fees for recordkeeping and related services provided by T. Rowe Price were paid for through revenue sharing