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Debt and Finance Lease Obligations (Tables)
 3 Months Ended
Mar. 31, 2022
Debt Disclosure [Abstract]  
Schedule of Debt and Finance Lease Obligations

The components of debt and finance obligations consisted of the following:

 

 

 

March 31,

 

 

December 31,

 

(in thousands, except interest rates)

 

2022

 

 

2021

 

2021 Credit Facility, 5.5% weighted-average interest rate at March 31, 2022 and December 31, 2021, due through 2028(1)

 

$

398,000

 

 

$

399,000

 

FlyOver Iceland Credit Facility, 4.9% weighted-average interest rate at March 31, 2022 and December 31, 2021, due through 2025(1)

 

 

5,397

 

 

 

5,566

 

FlyOver Iceland Term Loans, 3.8% weighted-average interest rate at March 31, 2022 and December 31, 2021, due through 2024(1)

 

 

712

 

 

 

689

 

Less unamortized debt issuance costs

 

 

(14,419

)

 

 

(14,804

)

Total debt

 

 

389,690

 

 

 

390,451

 

Finance lease obligations, 9.1% weighted-average interest rate at March 31, 2022 and December 31, 2021, due through 2067

 

 

66,414

 

 

 

63,401

 

Financing arrangements

 

 

3,322

 

 

 

5,528

 

Total debt and finance obligations (2)(3)

 

 

459,426

 

 

 

459,380

 

Current portion

 

 

(11,270

)

 

 

(12,800

)

Long-term debt and finance obligations

 

$

448,156

 

 

$

446,580

 
(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 $330.6 million as of March 31, 2022 and $328.9 million as of December 31, 2021. 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 $7.0 million during the three months ended March 31, 2022 and $5.7 million during the three months ended March 31, 2021.