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Debt and Finance Lease Obligations (Tables) | 3 Months Ended
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Mar. 31, 2021
Debt Disclosure [Abstract] |
Schedule of Debt and Finance Lease Obligations | The components of debt and finance lease obligations consisted of the following:
|  | March 31, |  |  | December 31, |
(in thousands, except interest rates) |  | 2021 |  |  | 2020 |
2018 Credit Facility, 4.5% weighted-average interest rate at March 31, 2021 and 4.5% at December 31, 2020, due through 2023(1) |  | $ | 301,094 |  |  | $ | 266,762 |
FlyOver Iceland Credit Facility, 4.9% weighted-average interest rate at March 31, 2021 and December 31, 2020, due through 2023(1) |  |  | 5,695 |  |  |  | 5,820 |
FlyOver Iceland Term Loans, 3.8% weighted-average interest rate at March 31, 2021 and December 31, 2020, due through 2024(1) |  |  | 710 |  |  |  | 705 |
Less unamortized debt issuance costs |  |  | (2,481 | ) |  |  | (2,737 | )
Total debt(2) |  |  | 305,018 |  |  |  | 270,550 |
Finance lease obligations, 9.0% weighted-average interest rate at March 31, 2021 and 8.0% at December 31, 2020, due through 2067(3) |  |  | 65,200 |  |  |  | 23,141 |
Total debt and finance lease obligations(4) |  |  | 370,218 |  |  |  | 293,691 |
Current portion |  |  | (2,800 | ) |  |  | (8,335 | )
Long-term debt and finance lease obligations |  | $ | 367,418 |  |  | $ | 285,356 |
(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 and finance leases was $329.1 million as of March 31, 2021 and $254.0 million as of December 31, 2020. 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) | The increase in finance lease obligations is primarily due to the commencement of Pursuit’s new Sky Lagoon attraction in Iceland during the first quarter of 2021, which has a 46-year lease term.
(4) | Cash paid for interest on debt was $5.7 million for the three months ended March 31, 2021 and $3.5 million for the three months ended March 31, 2020.

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