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Revenue and Related Contract Costs and Contract Liabilities (Tables)

3 Months Ended

Mar. 31, 2024

Revenue from Contract with Customer [Abstract]

Summary of Changes in Contract Liabilities

Changes to contract liabilities are as follows:


(in thousands)
Balance at December 31, 2023		$	53,322
Cash additions			75,131
Revenue recognized			(45,381	)
Foreign exchange translation adjustment			(305	)
Balance at March 31, 2024		$	82,767

Summary of Changes in Contract Costs

Changes to contract costs are as follows:


(in thousands)
Balance at December 31, 2023		$	21,974
Additions			29,217
Expenses			(13,527	)
Foreign exchange translation adjustment			(61	)
Balance at March 31, 2024		$	37,603

Disaggregate GES and Pursuit Revenue by Major Product Line Timing of Revenue Recognition and Markets Served

The following tables disaggregate Pursuit and GES revenue by major service and product lines, timing of revenue recognition, and markets served:

Pursuit


		Three Months Ended
		March 31,
(in thousands)		2024				2023
Services:
Ticket revenue		$	17,805			$	14,261
Rooms revenue			7,604				7,590
Transportation			1,855				1,945
Other			1,720				1,367
Total services revenue			28,984				25,163
Products:
Food and beverage			6,522				5,875
Retail operations			1,725				1,625
Total products revenue			8,247				7,500
Total revenue		$	37,231			$	32,663

Timing of revenue recognition:
Services transferred over time		$	28,984			$	25,163
Products transferred at a point in time			8,247				7,500
Total revenue		$	37,231			$	32,663

Markets:
Banff Jasper Collection		$	18,106			$	17,614
Alaska Collection			613				453
Glacier Park Collection			1,433				1,455
FlyOver			6,189				5,855
Sky Lagoon			10,890				7,286
Total revenue		$	37,231			$	32,663

GES


		Three Months Ended
		March 31,
(in thousands)		2024				2023
Service lines:
Spiro		$	61,248			$	60,362
GES Exhibitions			175,840				169,497
Intersegment eliminations			(822	)			(1,731	)
Total revenue		$	236,266			$	228,128

Timing of revenue recognition:
Services transferred over time		$	197,946			$	192,977
Products transferred over time(1)			14,423				12,941
Products transferred at a point in time			23,897				22,210
Total revenue		$	236,266			$	228,128

Geographical markets:
North America		$	181,187			$	180,839
EMEA			58,961				49,537
Intersegment eliminations			(3,882	)			(2,248	)
Total revenue		$	236,266			$	228,128

(1)

GES’ graphics product revenue is earned over time over the duration of an event as it is considered a part of the single performance obligation satisfied over time.