Property and Equipment

3 Months Ended

Mar. 31, 2023

Property, Plant and Equipment [Abstract]

Note 7. Property and Equipment, Net

Property and equipment consisted of the following:


	March 31,			December 31,
(in thousands)	2023			2022
Land and land interests	$	30,922		$	30,902
Buildings and leasehold improvements		419,877			409,852
Equipment and other		415,536			413,485
Gross property and equipment		866,335			854,239
Accumulated depreciation		(372,590	)		(362,195	)
Property and equipment, net (excluding finance leases)		493,745			492,044
Finance lease ROU assets, net		57,915			57,534
Property and equipment, net	$	551,660		$	549,578

Depreciation expense was $10.3 million for the three months ended March 31, 2023 and $11.0 million for the three months ended March 31, 2022.

Property and equipment purchased through accounts payable and accrued liabilities decreased $0.3 million during the three months ended March 31, 2023 and decreased $2.1 million during the three months ended March 31, 2022. Capitalized interest was $0.3 million for the three months ended March 31, 2023 and $1.9 million for three months ended March 31, 2022, which was primarily related to the development of Pursuit’s FlyOver attractions.