Revenue and Related Contract Costs and Contract Liabilities (Tables)

6 Months Ended

Jun. 30, 2024

Revenue from Contract with Customer [Abstract]

Summary of Changes in Contract Liabilities

Changes to contract liabilities are as follows:

(in thousands)
Balance at December 31, 2023	$	53,322
Cash additions		152,091
Revenue recognized		(121,576	)
Foreign exchange translation adjustment		(361	)
Balance at June 30, 2024	$	83,476

Summary of Changes in Contract Costs

Changes to contract costs are as follows:

(in thousands)
Balance at December 31, 2023	$	21,974
Additions		53,822
Expenses		(40,295	)
Foreign exchange translation adjustment		(57	)
Balance at June 30, 2024	$	35,444

Disaggregate GES and Pursuit Revenue by Major Product Line Timing of Revenue Recognition and Markets Served

The following tables disaggregate Pursuit and GES revenue by major service and product lines, timing of revenue recognition, and markets served:

Pursuit

	Three Months Ended				Six Months Ended
	June 30,				June 30,
(in thousands)	2024		2023		2024		2023
Services:
Ticket revenue	$	43,707	$	36,543	$	61,512	$	50,804
Rooms revenue		24,578		22,106		32,182		29,696
Transportation		3,338		3,689		5,193		5,634
Other		4,427		3,333		6,147		4,700
Total services revenue		76,050		65,671		105,034		90,834
Products:
Food and beverage		15,046		13,628		21,568		19,503
Retail operations		10,105		9,175		11,830		10,800
Total products revenue		25,151		22,803		33,398		30,303
Total revenue	$	101,201	$	88,474	$	138,432	$	121,137
Timing of revenue recognition:
Services transferred over time	$	76,050	$	65,671	$	105,034	$	90,834
Products transferred at a point in time		25,151		22,803		33,398		30,303
Total revenue	$	101,201	$	88,474	$	138,432	$	121,137
Markets:
Banff Jasper Collection	$	53,696	$	46,905	$	71,802	$	64,519
Alaska Collection		14,046		12,701		14,659		13,154
Glacier Park Collection		15,311		13,730		16,744		15,185
FlyOver		8,533		7,020		14,722		12,875
Sky Lagoon		9,615		8,118		20,505		15,404
Total revenue	$	101,201	$	88,474	$	138,432	$	121,137

GES

	Three Months Ended						Six Months Ended
	June 30,						June 30,
(in thousands)	2024			2023			2024			2023
Service lines:
Spiro	$	99,132		$	80,368		$	160,380		$	140,730
GES Exhibitions		180,977			154,534			356,817			324,031
Intersegment eliminations		(2,772	)		(3,065	)		(3,594	)		(4,796	)
Total revenue	$	277,337		$	231,837		$	513,603		$	459,965
Timing of revenue recognition:
Services transferred over time	$	233,910		$	196,668		$	431,856		$	389,645
Products transferred over time(1)		18,548			16,038			32,971			28,979
Products transferred at a point in time		24,879			19,131			48,776			41,341
Total revenue	$	277,337		$	231,837		$	513,603		$	459,965
Geographical markets:
North America	$	228,794		$	177,408		$	409,981		$	358,247
EMEA		71,175			62,644			130,136			112,181
Intersegment eliminations		(22,632	)		(8,215	)		(26,514	)		(10,463	)
Total revenue	$	277,337		$	231,837		$	513,603		$	459,965

(1)GES’ graphics product revenue is earned over time over the duration of an event as it is considered a part of the single performance obligation satisfied over time.