Property and Equipment

6 Months Ended

Jun. 30, 2021

Property Plant And Equipment [Abstract]

Note 7. Property and Equipment

Property and equipment consisted of the following:

	June 30,			December 31,
(in thousands)	2021			2020
Land and land interests	$	30,695		$	32,849
Buildings and leasehold improvements		392,311			386,751
Equipment and other		427,101			401,288
Gross property and equipment		850,107			820,888
Accumulated depreciation		(363,190	)		(352,100	)
Property and equipment, net (excluding finance leases)		486,917			468,788
Finance lease ROU assets, net ⁽¹⁾		64,197			23,366
Property and equipment, net	$	551,114		$	492,154

⁽¹⁾	The increase in finance lease ROU assets is primarily due to the commencement of Pursuit’s new Sky Lagoon attraction in Iceland during the first quarter of 2021.

Depreciation expense was $10.7 million for the three months ended June 30, 2021 and $21.6 million for the six months ended June 30, 2021. Depreciation expense was $11.5 million for the three months ended June 30, 2020 and $23.7 million for the six months ended June 30, 2020.

Property and equipment purchased through accounts payable and accrued liabilities increased $4.2 million during the six months ended June 30, 2021 and decreased $7.1 million during the six months ended June 30, 2020.