Pursuit Attractions & Hospitality, Inc.
For the period ended Dec 31, 2025. Filed Feb 25, 2026.
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FY2025 · Filed Feb 25, 2026
PRSU$55.53-3.0%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
| Year Ended December 31, | |||
|---|---|---|---|
| (in thousands) | 2025 | 2024 | 2023 |
| Cash flows from operating activities | |||
| Net income | $36,309 | $373,843 | $23,452 |
| Loss (income) from discontinued operations, net of tax | 2,208 | (425,603) | (9,103) |
| Adjustments to reconcile net income to net cash provided by operating activities attributable to continuing operations: | |||
| Depreciation and amortization | 46,070 | 42,960 | 37,929 |
| Impairment charges | — | 47,572 | — |
| Share-based compensation expense | 7,448 | 11,169 | 8,976 |
| Other non-cash items, net | (759) | 12,113 | (3,289) |
| Change in operating assets and liabilities (excluding the impact of acquisitions and disposition): | |||
| Receivables | (1,023) | (2,125) | (953) |
| Inventories | (1,817) | (853) | 51 |
| Accounts payable | (5,071) | 13,958 | 2,358 |
| Accrued compensation | (3,904) | (3,296) | (2,315) |
| Contract liabilities | 1,190 | 175 | 1,262 |
| Income taxes payable | 6,266 | 4,672 | 416 |
| Other assets and liabilities, net | (766) | (17,636) | 21,989 |
| Net cash provided by operating activities attributable to continuing operations | 86,151 | 56,949 | 80,773 |
| Cash flows from investing activities | |||
| Cash paid for acquisitions, net of cash acquired | (107,915) | (16,129) | (41) |
| Capital expenditures | (75,020) | (56,231) | (62,443) |
| Proceeds from sale of business | 25,000 | 428,805 | — |
| Proceeds from insurance | 6,767 | 12,612 | — |
| Other investing activities | 100 | 38 | — |
| Net cash (used in) provided by investing activities attributable to continuing operations | (151,068) | 369,095 | (62,484) |
| Cash flows from financing activities | |||
| Proceeds from borrowings | 435,348 | 572,173 | 162,049 |
| Payments on debt and finance lease obligations | (352,634) | (954,212) | (182,514) |
| Purchase of noncontrolling interests | (14,568) | — | — |
| Repurchases of common stock | (10,209) | — | — |
| Distributions of noncontrolling interests, net | (5,408) | (3,151) | (2,726) |
| Payments of debt issuance costs | (2,690) | (799) | (1,667) |
| Payment of payroll taxes on stock-based compensation through shares withheld or repurchased | (1,427) | (5,076) | (1,482) |
| Proceeds from exercise of stock options | 2,840 | — | — |
| Dividends paid on convertible preferred stock | — | (7,801) | (7,801) |
| Other financing activities | — | (201) | — |
| Net cash provided by (used in) financing activities attributable to continuing operations | 51,252 | (399,067) | (34,141) |
| Total cash (used in) provided by continuing operations | (13,665) | 26,977 | (15,852) |
| Net cash (used in) provided by operating activities attributable to discontinued operations | (11,881) | (7,275) | 23,905 |
| Net cash used in investing activities attributable to discontinued operations | (415) | (18,329) | (12,371) |
| Net cash used in financing activities attributable to discontinued operations | — | (2,015) | (2,023) |
| Effect of exchange rate changes on cash, cash equivalents, and restricted cash attributable to discontinued operations | — | (1,063) | 742 |
| Total cash (used in) provided by discontinued operations | (12,296) | (28,682) | 10,253 |
| Effect of exchange rate changes on cash, cash equivalents, and restricted cash attributable to continuing operations | 1,598 | (1,267) | 64 |
| Net change in cash, cash equivalents, and restricted cash | (24,363) | (2,972) | (5,535) |
| Cash, cash equivalents, and restricted cash, beginning of year | 56,057 | 59,029 | 64,564 |
| Cash, cash equivalents, and restricted cash, end of year | $31,694 | $56,057 | $59,029 |
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