Property and Equipment

3 Months Ended

Mar. 31, 2024

Property, Plant and Equipment [Abstract]

Note 6. Property and Equipment, Net

Property and equipment consisted of the following:


	March 31,			December 31,
(in thousands)	2024			2023
Land and land interests	$	31,010		$	31,184
Buildings and leasehold improvements		438,932			445,074
Equipment and other		471,918			455,070
Gross property and equipment		941,860			931,328
Accumulated depreciation		(403,834	)		(395,557	)
Property and equipment, net (excluding finance leases)		538,026			535,771
Finance lease ROU assets, net		55,677			57,120
Property and equipment, net	$	593,703		$	592,891

Depreciation expense was $11.3 million during the three months ended March 31, 2024 and $10.3 million during the three months ended March 31, 2023.

Capitalized interest was $0.7 million during the three months ended March 31, 2024 and $0.3 million during the three months ended March 31, 2023, which was primarily related to the development of Pursuit’s FlyOver Chicago attraction.