Debt and Finance Lease Obligations (Tables)

12 Months Ended

Dec. 31, 2019

Schedule of Long-term Debt and Finance Lease Obligations

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

	December 31,
(in thousands, except interest rates)	2019			2018
2018 Credit Facility, 3.9% weighted-average interest rate at December 31, 2019 and 4.3% at December 31, 2018, due through 2023⁽¹⁾	$	311,464		$	227,792
FlyOver Iceland Credit Facility, 4.9% weighted-average interest rate at December 31, 2019, due through 2022⁽¹⁾		5,607			—
Less unamortized debt issuance costs		(1,836	)		(2,310	)
Total debt⁽²⁾		315,235			225,482
Finance lease obligations, 7.7% weighted-average interest rate at December 31, 2019 and 4.5% at December 31, 2018, due through 2021		25,257			4,639
Total debt and finance lease obligations⁽³⁾		340,492			230,121
Current portion⁽⁴⁾		(316,794	)		(229,416	)
Long-term debt and finance lease obligations	$	23,698		$	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 weighted-average interest rate on total debt (including unamortized debt issuance costs and commitment fees) was 4.2% for 2019, 4.3% for 2018 and 3.7% for 2017. The estimated fair value of total debt was $339.4 million as of December 31, 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 $11.9 million during 2019, $8.5 million during 2018, and $7.7 million during 2017.}

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

Schedule of Aggregate Annual Maturities of Long-term Debt and Finance Lease Obligations

Aggregate annual maturities of long-term debt as of December 31, 2019 are as follows:

(in thousands)	Credit Facilities
Year ending December 31,
2020	$	313,407
2021		1,583
2022		2,081
2023		—
2024		—
Thereafter		—
Total	$	317,071

- 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.

+ References

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+ Details