Company: PRSU
Filing Date: 2025-03-17
Form Type: 10-K
Source: 0000950170-25-040127
Chunk: 223

Company: Pursuit Attractions & Hospitality, Inc.
Filing Date: 2025-03-17
Form: 10-K
Item: Item 8
Chunk 223
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1,710

        1,144

        Other current assets
         
        $
        47,607

        $
        10,686

       (1) 	Prepaid project deposit represented a payment towards the Jasper SkyTram, which we acquired on December 31, 2024. Refer to Note 4 – Acquisitions for additional information.

      NOTE 8. PROPERTY AND EQUIPMENT, NET
     
    Property and equipment consisted of the following:

        December 31,

        (in thousands)
         
        2024

        2023

        Land and land interests(1)
         
        $
        31,332

        $
        30,281

        Buildings and leasehold improvements

        436,815

        423,613

        Equipment and other

        258,677

        272,233

        Gross property and equipment

        726,824

        726,127

        Accumulated depreciation

        (248,691
        )

        (224,551
        )

        Property and equipment, net (excluding finance leases)

        478,133

        501,576

        Finance lease ROU assets, net

        48,103

        53,074

        Property and equipment, net
         
        $
        526,236

        $
        554,650

      (1)Land and land interests include certain leasehold interests in land for which we are considered to have perpetual use rights. The carrying value of these leasehold interests was $8.2 million as of December 31, 2024 and $8.1 million as of December 31, 2023. These land interests are not subject to amortization.Depreciation expense was $38.4 million during 2024, $33.0 million during 2023, and $31.1 million during 2022.Accounts payable and accrued liabilities related to the addition of property and equipment was $6.9 million as of December 31, 2024 and $3.3 million as of December 31, 2023. Capitalized interest was $0.7 million during 2024 and $2.1 million during 2023, which was primarily related to the development of our Flyover Chicago attraction. On July 2, 2019, we executed a facility lease with the intent of building a new Flyover attraction, Flyover Canada Toronto