Company: PRSU
Filing Date: 2025-03-17
Form Type: 10-K
Source: 0000950170-25-040127
Chunk: 35

Company: Pursuit Attractions & Hospitality, Inc.
Filing Date: 2025-03-17
Form: 10-K
Item: Item 1B
Chunk 35
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86,644

    $
    84,458

    $
    76,864

    2.6
    %

    9.9
    %

    Corporate activities
     
    $
    20,167

    $
    18,655

    $
    18,155

    8.1
    %

    2.8
    %

    Interest expense, net
     
    $
    14,182

    $
    5,963

    $
    4,064

    **

    46.7
    %

    Other expense, net
     
    $
    916

    $
    1,345

    $
    1,289

    (31.9
    )%

    4.3
    %

    Restructuring charges
     
    $
    3,157

    $
    199

    $
    84

    **

    **

    Impairment charges
     
    $
    47,572

    $
    —

    $
    —

    **

    —

    Income tax expense
     
    $
    6,325

    $
    12,929

    $
    5,715

    (51.1
    )%
     
    **

    Income from discontinued operations, net of tax
     
    $
    425,603

    $
    9,103

    $
    30,004

    **

    (69.7
    )%

** Change is greater than +/- 100%.

2024 compared with 2023

Cost of services and products – The increase in cost of services and products in primarily due to higher depreciation expense of $5.4 million, an increase in operating costs to support higher business volume, as well as start-up costs to open the Flyover Chicago attraction. 

Interest expense, net – In connection with the sale of the GES Business, we terminated and repaid in full all outstanding obligations (approximately $393 million) due under our previous 2021 Credit Facility and all related liens and security interests were terminated, discharged and released. The increase in interest expense is primarily due to higher revolving credit balances, the write-off of debt issuance costs related to the $170 million revolving credit facility, and lower capitalized interest.

We allocated interest expense to discontinued operations for the 2021 Credit Facility and the related debt issuance costs that