Segment Information (Tables)

9 Months Ended

Sep. 30, 2023

Segment Reporting [Abstract]

Reconciliation of income statement items from reportable segments

Our reportable segments, with reconciliations to consolidated totals, are as follows:

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
(in thousands)	2023			2022			2023			2022
Revenue:
Pursuit	$	186,940		$	163,796		$	308,077		$	265,179
GES:
Spiro		58,887			73,277			199,617			205,518
GES Exhibitions		122,115			147,872			446,146			414,303
GES intersegment eliminations		(2,043	)		(2,224	)		(6,839	)		(5,716	)
Total GES		178,959			218,925			638,924			614,105
Total revenue	$	365,899		$	382,721		$	947,001		$	879,284
Segment operating income (loss):
Pursuit	$	81,375		$	59,749		$	72,074		$	44,122
GES:
Spiro		179			3,720			11,632			18,328
GES Exhibitions		(5,529	)		2,870			20,235			17,788
Total GES		(5,350	)		6,590			31,867			36,116
Segment operating income		76,025			66,339			103,941			80,238
Corporate eliminations (1)		17			17			49			51
Corporate activities		(3,579	)		(3,768	)		(10,255	)		(9,881	)
ON Services sale purchase price adjustment		—			—			(204	)		—
Interest expense, net		(12,476	)		(10,252	)		(37,081	)		(23,890	)
Other expense, net		(554	)		(280	)		(1,533	)		(1,530	)
Restructuring charges:
Pursuit		(192	)		—			(201	)		—
Spiro		(155	)		(71	)		(331	)		(1,297	)
GES Exhibitions		(125	)		(1,316	)		(585	)		(2,140	)
Corporate		(8	)		—			(8	)		(30	)
Impairment charges:
GES Exhibitions		—			—			—			(583	)
Income from continuing operations before income taxes	$	58,953		$	50,669		$	53,792		$	40,938

(1)Corporate eliminations represent the elimination of depreciation expense recorded by Pursuit associated with previously eliminated intercompany profit realized by GES for renovations to Pursuit’s Banff Gondola.

Reconciliation of assets from reportable segments

Additional information of our reportable segments is as follows:

	Three Months Ended				Nine Months Ended September 30,
	September 30,				September 30,
(in thousands)	2023		2022		2023		2022
Depreciation:
Pursuit	$	7,708	$	7,501	$	24,121	$	23,149
Spiro		527		912		1,627		2,693
GES Exhibitions		1,830		2,058		5,148		6,419
Corporate		18		9		57		27
	$	10,083	$	10,480	$	30,953	$	32,288
Amortization:
Pursuit	$	1,356	$	1,351	$	3,811	$	3,846
Spiro		69		57		194		160
GES Exhibitions		920		1,068		2,749		3,148
	$	2,345	$	2,476	$	6,754	$	7,154
Capital expenditures:
Pursuit	$	18,945	$	20,178	$	44,260	$	48,888
Spiro		892		1,042		2,157		1,628
GES Exhibitions		2,703		1,898		8,301		4,146
Corporate and other		6		13		21		108
	$	22,546	$	23,131	$	54,739	$	54,770

We do not report total