Company: PRSU
Filing Date: 2025-03-17
Form Type: 10-K
Source: 0000950170-25-040127
Chunk: 155

Company: Pursuit Attractions & Hospitality, Inc.
Filing Date: 2025-03-17
Form: 10-K
Item: Item 8
Chunk 155
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Tram attraction in Jasper National Park for total cash consideration of $23.7 million Canadian dollars (approximately $16.5 million U.S. dollars), which includes a renewable long-term lease with Parks Canada, with nearly 30 years remaining. The Jasper SkyTram ascends 2,263 meters (8,081 feet) up Whistlers Mountain while taking in 360-degree national park views. On-site amenities include an interpretive boardwalk, easy access to hiking trails, and light culinary offerings.The following table summarizes the preliminary allocation of the aggregate purchase price and amounts of assets acquired based upon the estimated fair value at the date of acquisition. 

        (in thousands)

        Purchase price paid as:

        Cash
         
        $
        16,129

        Holdback

        347

        Purchase price

        16,476

        Fair value of net assets acquired:

        Property and equipment

        1,947

        Intangible assets

        13,764

        Total assets acquired

        15,711

        Excess purchase price over fair value of net assets acquired (“goodwill”)
         
        $
        765

      Under the acquisition method of accounting, the purchase price as shown in the table above is allocated to the tangible and identifiable intangible assets acquired based on their estimated fair values. The excess purchase price over the fair value of net assets acquired was recorded as “Goodwill.” Goodwill is included in the Banff Jasper Collection reporting unit. The primary factor that contributed to the purchase price resulting in the recognition of goodwill related to future growth opportunities when combined with our other businesses. Goodwill is deductible for tax purposes. Following are details of the purchase price allocated to the intangible assets acquired for the Jasper SkyTram:

        (in thousands)
         
        Amount

        Weighted Average Life

        Operating licenses

        13,555

        33 years

        Trade name

        209

        5 years

        Total
         
        $
        13,764

        33 years
       
      Transaction costs associated with the acquisition were $0.4 million during 2024, which are included in “Costs of services” in the Consolidated Statements of Operations. We included these assets in the consolidated financial statements from the date of acquisition.Pro forma information is not presented as revenue and the operating results of Jasper SkyTram, as if the acquisition occurred on January 1, 2024, was not material to