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Debt and Finance Lease Obligations (Tables)
 6 Months Ended
Jun. 30, 2023
Debt Disclosure [Abstract]  
Schedule of Debt and Finance Lease Obligations

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

 

 

 

June 30,

 

 

December 31,

 

(in thousands, except interest rates)

 

2023

 

 

2022

 

2021 Credit Facility - Term Loan B, 10.2% interest rate at June 30, 2023 and 9.4% at December 31, 2022, due through 2028(1)

 

$

393,000

 

 

$

395,000

 

Jasper Term Loan, 6.5% interest rate at June 30, 2023, due through 2028(1)

 

 

12,655

 

 

 

—

 

Jasper Revolving Credit Facility, 9.2% weighted-average interest rate at June 30, 2023, due through 2028(1)

 

 

3,020

 

 

 

—

 

Forest Park Hotel Construction Loan, 8.8% interest rate at December 31, 2022(1)

 

 

—

 

 

 

11,491

 

FlyOver Iceland Credit Facility, 8.4% interest rate at June 30, 2023 and 6.9% at December 31, 2022, due through 2027(1)

 

 

4,528

 

 

 

4,965

 

FlyOver Iceland Term Loans, 13.1% weighted-average interest rate at June 30, 2023 and 10.1% at December 31, 2022, due through 2024(1)

 

 

535

 

 

 

594

 

Less unamortized debt issuance costs

 

 

(10,012

)

 

 

(11,848

)

Total debt

 

 

403,726

 

 

 

400,202

 

Finance lease obligations, 9.1% weighted-average interest rate at June 30, 2023 and December 31, 2022, due through 2067

 

 

63,961

 

 

 

64,729

 

Financing arrangements

 

 

177

 

 

 

5,013

 

Total debt and finance obligations (2)(3)

 

 

467,864

 

 

 

469,944

 

Current portion

 

 

(8,382

)

 

 

(13,192

)

Long-term debt and finance obligations

 

$

459,482

 

 

$

456,752

 
(1)
Represents the weighted-average interest rate in effect as of the end of 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 $320.8 million as of June 30, 2023 and $301.8 million as of December 31, 2022. 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 14 – Fair Value Measurements for additional information.
(3)
Cash paid for interest on debt was $23.4 million during the six months ended June 30, 2023 and $14.6 million during the six months ended June 30, 2022.