Debt and Finance Lease Obligations (Tables)

9 Months Ended

Sep. 30, 2019

Schedule of Long-term Debt and Finance Lease Obligations

The components of our long-term debt and finance lease obligations consisted of the following:

	September 30,			December 31,
(in thousands, except interest rates)	2019			2018
2018 Credit Facility, 4.1% weighted-average interest rate at September 30, 2019 and 4.3% at December 31, 2018, due through 2023⁽¹⁾	$	295,378		$	227,792
FlyOver Iceland Credit Facility, 4.9% weighted-average interest rate at September 30, 2019, due through 2022⁽¹⁾		5,452			—
Less unamortized debt issuance costs		(1,925	)		(2,310	)
Total debt ⁽²⁾		298,905			225,482
Finance lease obligations, 6.2% weighted-average interest rate at September 30, 2019 and 4.5% at December 31, 2018, due through 2021		25,330			4,639
Total debt and finance lease obligations ⁽³⁾		324,235			230,121
Current portion ⁽⁴⁾		(298,940	)		(229,416	)
Long-term debt and finance lease obligations	$	25,295		$	705

⁽¹⁾	Represents the weighted-average interest rate in effect at the respective periods, including any applicable margin. The interest rates do not include amortization of debt issuance costs or commitment fees.

⁽²⁾

The estimated fair value of total debt was $297.8 million as of September 30, 2019 and $228.6 million as of December 31, 2018. The fair value of debt was estimated by discounting the future cash flows using rates currently available for debt of similar terms and maturity, which is a Level 2 measurement. Refer to Note 13 – Fair Value Measurements.

⁽³⁾	Cash paid for interest on debt was $8.8 million for the nine months ended September 30, 2019 and $6.2 million for the nine months ended September 30, 2018.

⁽⁴⁾	Borrowings under the 2018 Credit Facility are classified as current because all borrowed amounts are due within one year.

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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+ Details