Property and Equipment

3 Months Ended

Mar. 31, 2022

Property, Plant and Equipment [Abstract]

Note 7. Property and Equipment

Property and equipment consisted of the following:


	March 31,			December 31,
(in thousands)	2022			2021
Land and land interests	$	30,621		$	30,532
Buildings and leasehold improvements		411,581			407,930
Equipment and other		420,679			413,684
Gross property and equipment		862,881			852,146
Accumulated depreciation		(372,591	)		(364,060	)
Property and equipment, net (excluding finance leases)		490,290			488,086
Finance lease ROU assets, net		63,696			61,022
Property and equipment, net	$	553,986		$	549,108

Depreciation expense was $11.0 million for the three months ended March 31, 2022 and $10.9 million for the three months ended March 31, 2021.

Property and equipment purchased through accounts payable and accrued liabilities decreased $2.1 million during the three months ended March 31, 2022 and decreased $0.5 million during the three months ended March 31, 2021. Capitalized interest was $1.9 million for the three months ended March 31, 2022, which was primarily related to the development of Pursuit’s FlyOver attractions.