Company: PRSU
Filing Date: 2025-03-17
Form Type: 10-K
Source: 0000950170-25-040127
Chunk: 170

Company: Pursuit Attractions & Hospitality, Inc.
Filing Date: 2025-03-17
Form: 10-K
Item: Item 8
Chunk 170
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18,822

        38,577

        Leases

        2,809

        1,587

        Deferral of United States interest deductions

        14,644

        20,194

        Other deferred income tax assets

        9,117

        5,948

        Total deferred tax assets

        59,553

        80,759

        Valuation allowance

        (43,558
        )

        (72,531
        )

        Foreign deferred tax assets included above

        (2,454
        )

        (1,309
        )

        United States net deferred tax assets

        13,541

        6,919

        Deferred tax liabilities:

        Property and equipment

        (23,053
        )

        (21,170
        )

        Goodwill and other intangible assets

        (7,301
        )

        (10,356
        )

        Leases

        (447
        )

        (314
        )

        Other deferred income tax liabilities

        (8,305
        )

        (3,593
        )

        Total deferred tax liabilities

        (39,106
        )

        (35,433
        )

        Foreign deferred tax liabilities included above

        (25,565
        )

        (28,514
        )

        United States net deferred tax liabilities included above

        (13,541
        )

        (6,919
        )

        United States net deferred tax assets (liabilities)
         
        $
        —

        $
        —

      The net decrease in our valuation allowance of $29.0 million was primarily the result of the utilization of the domestic deferred tax assets to offset the book gain attributable to the GES Sale, offset by a net increase in the valuation allowance of $15.7 million primarily for losses incurred in jurisdictions with a valuation allowance. After utilization, we have $114.7 million of federal and state net operating losses, the majority of which can be carried forward indefinitely. As of December 31, 2024, we have $58.0 million of U.S. interest deductions deferred indefinitely under Section 163j of the Internal Revenue Service Code. We also have $1.4 million of foreign tax credits and general business credits carryforwards.We use significant judgment in forming conclusions regarding the recoverability of our deferred tax assets and evaluate all available positive and negative evidence to determine if it is more-