Business interruption gain

$ 63,072

$ 353,743

$ 389,863

$ 1,009,686

Costs and expenses:

(141)

Corporate activities

2,645

2,680

5,902

7,795

Interest income

(58)

(79)

(313)

(260)

Interest expense

5,508

3,740

14,712

9,612

Multi-employer pension plan withdrawal

462

15,508

Other expense

210

281

894

1,192

11,259

1,702

12,370

6,845

Legal settlement

8,500

Income (loss) from continuing operations before income taxes

676

203,076

Total costs and expenses

90,077

307,245

692,867

968,709

(27,005)

46,498

(303,004)

40,977

Income tax expense

735

11,891

20,454

10,861

Income (loss) from continuing operations

(27,740)

34,607

(323,458)

30,116

Income (loss) from discontinued operations

(989)

(141)

(1,822)

32

Net (income) loss attributable to non-redeemable noncontrolling interest

(28,729)

34,466

(325,280)

30,148

(2,331)

(3,418)

636

(3,329)

Net loss attributable to redeemable noncontrolling interest

302

368

1,023

644

Net income (loss) attributable to Viad

$ (30,758)

$ 31,416

$ (323,621)

$ 27,463

Diluted income (loss) per common share:

Continuing operations attributable to Viad common stockholders

$ (1.54)

$ 1.54

$ (15.98)

$ 1.33

Discontinued operations attributable to Viad common stockholders

(0.05)

(0.01)

(0.09)

Net income (loss) attributable to Viad common stockholders

^[1]

$ (1.59)

$ 1.53

$ (16.07)

$ 1.33

Weighted-average outstanding and potentially dilutive common shares

20,293

20,311

20,263

20,267

Basic income (loss) per common share:

Continuing operations attributable to Viad common stockholders

$ (1.54)

$ 1.54

$ (15.98)

$ 1.33

Discontinued operations attributable to Viad common stockholders

(0.05)

(0.01)

(0.09)

Net income (loss) attributable to Viad common stockholders

$ (1.59)

$ 1.53

$ (16.07)

$ 1.33

Weighted-average outstanding common shares

20,293

20,168

20,263

20,129

Dividends declared per common share

$ 0.10

$ 0.30

Amounts attributable to Viad common stockholders

Income (loss) from continuing operations

$ (29,769)

$ 31,557

$ (321,799)

$ 27,431

Income (loss) from discontinued operations

(989)

(141)

(1,822)

32

Net income (loss) attributable to Viad

(30,758)

31,416

(323,621)

27,463

Services

Revenue:

43,702

291,701

335,383

858,071

Costs and expenses:

Costs and expenses

51,730

247,551

395,432

785,131

Products

Revenue:

Statement Of Income And Comprehensive Income [Abstract]

19,370

62,042

54,480

151,615

Costs and expenses:

Costs and expenses

$ 18,107

$ 51,370

$ 60,332

$ 134,527

[1]	^{Diluted loss per share amount cannot exceed basic loss per share.}

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited) - USD ($)
$ in Thousands

3 Months Ended

9 Months Ended

Sep. 30, 2020

Sep. 30, 2019

Sep. 30, 2020

Sep. 30, 2019

Unrealized foreign currency translation adjustments

$ (28,729)

$ 34,466

$ (325,280)

$ 30,148

Other comprehensive income (loss):

11,032

(5,229)

(7,342)

3,868

Change in net actuarial loss, net of tax

^[1]

70

83

436

302

Change in prior service cost, net of tax

^[1]

(27)

(35)

(82)

(106)

Comprehensive income (loss)

(17,654)

29,285

(332,268)

34,212

Non-redeemable noncontrolling interest:

Net (income) loss attributable to non-redeemable noncontrolling interest

(2,331)

(3,418)

636

(3,329)

Unrealized foreign currency translation adjustments

1,837

(682)

(1,949)

94

Redeemable noncontrolling interest:

Comprehensive loss attributable to redeemable noncontrolling interest

302

368

1,023

644

Comprehensive income (loss) attributable to Viad

$ (17,846)

$ 25,553

$ (332,558)

$ 31,621

[1]	The tax effect on other comprehensive income (loss) is not significant.

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY AND MEZZANINE EQUITY (Unaudited) - USD ($)
$ in Thousands

Total

Mountain Park Lodges

Common Stock

Additional Capital

Retained Earnings (Deficit)

Accumulated Other Comprehensive Income (Loss)

Common Stock in Treasury

Total Viad Equity

Non-Redeemable Non-Controlling Interest

Mountain Park Lodges

Mezzanine Equity Redeemable Non Controlling Interest

Convertible Series A Preferred Stock

Unearned Employee Benefits and Other

Beginning Balance at Dec. 31, 2018

$ 450,555

$ 37,402

$ 575,339

$ 109,032

$ (47,975)

$ (237,790)

$ 436,207

$ 14,348

$ 5,909

$ 199

Increase Decrease In Stockholders' Equity Roll Forward

(18,197)

(17,777)

(420)

(24)

Payment of payroll taxes on stock-based compensation through shares withheld

(2,028)

(2,905)

1,220

(4,302)

5,522

1,220

780

4,780

(310)

120

(35)

Ending Balance at Mar. 31, 2019

41

16

1

41

87

24

434,331

37,402

571,833

89,227

(43,110)

(235,172)

420,403

13,928

5,662

223

Beginning Balance at Dec. 31, 2018

450,555

37,402

575,339

109,032

(47,975)

(237,790)

436,207

14,348

5,909

199

Increase Decrease In Stockholders' Equity Roll Forward

^[1]

302

Ending Balance at Sep. 30, 2019

^[1]

(106)

532,527

37,402

574,039

130,435

(43,911)

(232,928)

465,037

67,490

5,431

Beginning Balance at Mar. 31, 2019

434,331

37,402

571,833

89,227

(43,110)

(235,172)

420,403

13,928

5,662

223

Increase Decrease In Stockholders' Equity Roll Forward

14,155

13,824

331

(252)

Payment of payroll taxes on stock-based compensation through shares withheld

(2,006)

(89)

1,602

301

1,301

1,602

781

5,093

4,317

776

(81)

99

(36)

Acquisition

$ 49,711

Ending Balance at Jun. 30, 2019

14

16

221

14

179

$ (223)

503,655

37,402

572,931

101,045

(38,730)

(233,739)

438,909

64,746

5,508

Increase Decrease In Stockholders' Equity Roll Forward

34,834

31,416

3,418

(368)

Payment of payroll taxes on stock-based compensation through shares withheld

(2,026)

(25)

1,271

212

1,059

1,271

938

(5,911)

(5,229)

(682)

27

83

^[1]

83

(35)

^[1]

(35)

Acquisition

$ 8

Ending Balance at Sep. 30, 2019

(265)

(42)

(223)

(265)

264

532,527

37,402

574,039

130,435

(43,911)

(232,928)

465,037

67,490

5,431

Beginning Balance at Dec. 31, 2019

547,229

37,402

574,473

122,971

(35,699)

(231,649)

467,498

79,731

6,172

Increase Decrease In Stockholders' Equity Roll Forward

(87,918)

(86,585)

(1,333)

(517)

Distributions to noncontrolling interest

(2,038)

(1,526)

Payment of payroll taxes on stock-based compensation through shares withheld

(1,059)

Common stock purchased for treasury

(2,785)

1,912

(3,810)

5,722

1,912

276

(33,877)

(28,158)

(5,719)

(873)

341

(27)

Ending Balance at Mar. 31, 2020

(82)

(80)

(3)

1

(82)

126

420,446

37,402

570,859

34,345

(63,543)

(229,770)

349,293

71,153

4,908

Beginning Balance at Dec. 31, 2019

547,229

37,402

574,473

122,971

(35,699)

(231,649)

467,498

79,731

6,172

Increase Decrease In Stockholders' Equity Roll Forward

Dividends on convertible preferred stock

(1,134)

^[1]

436

Ending Balance at Sep. 30, 2020

^[1]

(82)

210,468

37,402

570,447

(202,691)

(42,687)

(227,623)

134,848

75,620

5,271

$ 126,897

Beginning Balance at Mar. 31, 2020

420,446

37,402

570,859

34,345

(63,543)

(229,770)

349,293

71,153

4,908

Increase Decrease In Stockholders' Equity Roll Forward

Payment of payroll taxes on stock-based compensation through shares withheld

(207,912)

(206,278)

(1,634)

(204)

(3)

330

48

282

330

602

11,717

9,784

1,933

102

25

(28)

Ending Balance at Jun. 30, 2020

45

46

(1)

45

332

225,222

37,402

571,555

(171,933)

(53,762)

(229,492)

153,770

71,452

5,138

Increase Decrease In Stockholders' Equity Roll Forward

Issuance of Series A convertible preferred stock

(28,427)

(30,758)

2,331

(302)

125,763

Dividends on convertible preferred stock

(1,134)

1,134

(253)

(2,123)

1,870

(253)

2,135

12,869

11,032

1,837

(33)

70

^[1]

70

(27)

^[1]

(27)

Ending Balance at Sep. 30, 2020

13

14

(1)

13

468

$ 210,468

$ 37,402

$ 570,447

$ (202,691)

$ (42,687)

$ (227,623)

$ 134,848

$ 75,620

$ 5,271

$ 126,897

[1]	The tax effect on other comprehensive income (loss) is not significant.

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY AND MEZZANINE EQUITY (Parenthetical) (Unaudited) - $ / shares	3 Months Ended
	Mar. 31, 2020	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019
Statement Of Stockholders Equity [Abstract]
Dividends on common stock per share	$ 0.10	$ 0.10	$ 0.10	$ 0.10

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Cash flows from operating activities
Net income (loss)	$ (28,729)	$ 34,466	$ (325,280)	$ 30,148
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization			43,051	44,061
Deferred income taxes			20,428	5,261
(Income) loss from discontinued operations	989	141	1,822	(32)
Restructuring charges	11,259	1,702	12,370	6,845
Legal settlement				8,500
Impairment charges			203,076
Gains on dispositions of property and other assets			(14,935)	(938)
Share-based compensation expense	1,937	1,831	649	6,448
Multi-employer pension plan withdrawal			462	15,508
Other non-cash items, net			10,371	2,772
Change in operating assets and liabilities:
Receivables			104,722	(37,028)
Inventories			833	389
Current contract costs			16,418	(13,929)
Accounts payable			(76,355)	20,121
Restructuring liabilities			(4,606)	(5,012)
Accrued compensation			(25,268)	2,308
Contract liabilities			(32,650)	29,177
Income taxes payable			1,290	3,777
Other assets and liabilities, net			17,696	(17,236)
Net cash (used in) provided by operating activities			(45,906)	101,140
Cash flows from investing activities
Capital expenditures			(40,057)	(60,868)
Cash surrender value of life insurance policies			24,767
Cash paid for acquisitions, net				(90,992)
Proceeds from dispositions of property and other assets			21,788	1,022
Net cash provided by (used in) investing activities			6,498	(150,838)
Cash flows from financing activities
Proceeds from borrowings			191,733	170,459
Payments on debt and finance lease obligations			(273,663)	(99,340)
Dividends paid on common stock			(4,064)	(6,060)
Distributions to noncontrolling interest			(1,526)
Debt issuance costs			(1,585)
Payment of payroll taxes on stock-based compensation through shares withheld or repurchased			(1,062)	(3,019)
Common stock purchased for treasury			(2,785)
Proceeds from issuance of Convertible Series A Preferred Stock, net of issuance costs			125,763
Proceeds from exercise of stock options			2,077	92
Net cash provided by financing activities			34,888	62,132
Effect of exchange rate changes on cash and cash equivalents			(1,027)	(689)
Net change in cash and cash equivalents			(5,547)	11,745
Cash and cash equivalents, beginning of year			61,999	44,893	$ 44,893
Cash and cash equivalents, end of period	$ 56,452	$ 56,638	$ 56,452	$ 56,638	$ 61,999

Overview and Basis of Presentation

9 Months Ended

Sep. 30, 2020

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Overview and Basis of Presentation

Note 1. Overview and Basis of Presentation

Nature of Business

We are an international experiential services company with operations in the United States, Canada, the United Kingdom, continental Europe, the United Arab Emirates, and Iceland. We are committed to providing unforgettable experiences to our clients and guests. We operate through three reportable business segments: GES North America, GES EMEA (collectively, “GES”), and Pursuit.

GES

GES is a global, full-service live events company offering a comprehensive range of services to event organizers and corporate brand marketers. Event organizers schedule and run events from start to finish. Corporate brand marketers include exhibitors and domestic and international corporations that want to promote their brands, services and innovations, feature new products, and build business relationships. GES serves corporate brand marketers when they exhibit at shows and when GES is engaged to manage their global exhibit program or produce their proprietary corporate events.

Pursuit

Pursuit is a collection of inspiring and unforgettable travel experiences that include recreational attractions, unique hotels and lodges, food and beverage, retail, sightseeing, and ground transportation services. Pursuit comprises the Banff Jasper Collection, the Alaska Collection, the Glacier Park Collection, and FlyOver.

Impact of COVID-19

On March 11, 2020, the World Health Organization declared COVID-19 a “pandemic.” COVID-19 has spread rapidly, with a high concentration of confirmed cases in the U.S. and other countries in which we operate. The rapid spread has resulted in authorities around the world implementing numerous measures to contain the virus, such as travel bans and restrictions, quarantines, shelter-in-place orders, and business shutdowns. The COVID-19 pandemic and these containment measures have had, and are expected to continue to have, a substantial negative impact on businesses around the world and on global, regional, and national economies.

The COVID-19 pandemic is having and will likely continue to have a significant and negative impact on our operations and financial performance, with live events largely shut down and tourism activity disruptions. In response to the COVID-19 pandemic, we implemented aggressive cost reduction measures to preserve cash, including furloughs, layoffs, mandatory unpaid time off, or salary reductions for all employees, and the elimination of discretionary spending. We continue to implement measures to successfully adapt for the long-term impact of COVID-19. During the third quarter of 2020, we secured additional capital to strengthen our liquidity position and amended our Second Amended and Restated Credit Agreement (the “2018 Credit Agreement”) to provide financial flexibility.

Investment Agreement

On August 5, 2020, we entered into an investment agreement with funds managed by private equity firm Crestview Partners (the “Investment Agreement”) who made an initial investment of $135 million, offset in part by $9.2 million in fees, in newly issued perpetual convertible preferred stock that carries a 5.5% cumulative quarterly dividend, which is payable in cash or in-kind at Viad’s option (the “Convertible Preferred Stock”). The Convertible Preferred Stock is convertible into shares of our common stock at a conversion price of $21.25 per share. The Investment Agreement also includes a delayed draw commitment of up to $45 million in additional Convertible Preferred Stock, which we may access during the 12 months following the August 5, 2020 closing date on the same terms and conditions as the initial investment. The proceeds from Crestview’s initial investment were used to repay a portion of our 2018 Credit Facility, will provide additional short-term liquidity, will fund capital expenditures, and will support general corporate purposes. Pursuant to the Investment Agreement, two Crestview Partners’ designees joined our Board of Directors, increasing the size of our board from seven to nine directors.

Credit Agreement Amendment

On August 5, 2020, we entered into an amendment to our 2018 Credit Agreement, which, among other things, (i) waives our financial covenants until September 30, 2022 (the “Covenant Waiver Period”) and (ii) requires us to maintain minimum liquidity of $125 million with a step down to $100 million at December 31, 2020. The interest rate on the borrowings is equal to the London Interbank

Offered Rate (“LIBOR”) plus 350 basis points, with a LIBOR floor of one percent during the Covenant Waiver Period. The LIBOR floor continues until the end of the 2018 Credit Agreement. Viad pledged 100% of the capital stock of its wholly-owned domestic subsidiaries and its top-tier foreign subsidiaries (other than Esja Attractions ehf.). Fees related to the amendment were approximately $1.7 million.

Management anticipates that the initial cash proceeds from Crestview Partners, existing cash and cash equivalents, and the amendment to waive financial covenants within the 2018 Credit Agreement until September 30, 2022 will be sufficient to fund operations for at least the next 12 months.

Goodwill Impairment

Due to the deteriorating macroeconomic environment, disruptions to our operations, and the sustained decline in our stock price caused by COVID-19, we determined an interim triggering event had occurred in the first and second quarters of 2020, which required us to assess the carrying values of goodwill and intangible assets in accordance with Accounting Standards Codification (“ASC”) No. 350, Intangibles – Goodwill and Other. Based on this assessment, we recorded non-cash goodwill impairment charges of $186.1 million during the first half of 2020, including a full impairment charge to the remaining GES goodwill balance of $113.1 million in the second quarter of 2020. Our remaining goodwill balance as of September 30, 2020 of $96.9 million pertains to our Pursuit business. The duration and impact of COVID-19 may result in additional future impairment charges as facts and circumstances evolve. Refer to Note 9 – Goodwill and Other Intangible Assets for additional information.

Basis of Presentation

The accompanying unaudited condensed consolidated financial statements were prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and with the instructions to Form 10-Q and Article 10 of Regulation S-X for interim financial information. Accordingly, these financial statements do not include all of the information required by GAAP or SEC rules and regulations for complete financial statements. These financial statements reflect all adjustments (consisting of normal recurring adjustments) necessary for a fair presentation of the results for the interim periods presented. Interim results are not necessarily indicative of the results for the full year. These unaudited condensed consolidated financial statements should be read in conjunction with our Annual Report on Form 10-K for the year ended December 31, 2019, filed with the SEC on February 26, 2020 (“2019 Form 10-K”). Subsequent to the filing of the 2019 Form 10-K, we corrected the classification of debt as of December 31, 2019. Refer to Note 12 – Debt and Finance Lease Obligations.

The condensed consolidated financial statements include the accounts of Viad and its subsidiaries. We have eliminated all significant intercompany account balances and transactions in consolidation.

Correction to Prior Period Financial Statements

During the third quarter of 2020, we identified a prior period error related to the recognition of revenue of our GES’ Corporate Accounts’ third-party services. Revenue from these services should have been recorded on a net basis to reflect only the fees we receive from arranging these services. Previously, we recorded this revenue on a gross basis, thus overstating revenue and cost of services by the same amount. As a result, we corrected the accompanying Condensed Consolidated Statements of Operations for the three and nine months ended September 30, 2019 related to this gross-to-net adjustment. We determined that the error is not material to the previously issued financial statements. Note 2 – Revenue and Related Contract Costs and Contract Liabilities and Note 22 – Segment Information reflects this change.

	Three Months Ended September 30, 2019						Nine Months Ended September 30, 2019
(in thousands)	Services Revenue			Cost of Services			Services Revenue			Cost of Services
As previously reported	$	300,446		$	256,296		$	898,746		$	825,806
Gross to net correction for GES North America		(6,859	)		(6,859	)		(32,081	)		(32,081	)
Gross to net correction for GES EMEA		(1,886	)		(1,886	)		(8,594	)		(8,594	)
Total as corrected	$	291,701		$	247,551		$	858,071		$	785,131

Impact of Recent Accounting Pronouncements

The following table provides a brief description of recent accounting pronouncements:

Standard	Description	Date of adoption	Effect on the financial statements
Standards Not Yet Adopted
ASU 2019-12, Income Taxes (Topic 740) Simplifying the Accounting for Income Taxes	The amendment enhances and simplifies various aspects of the income tax accounting guidance, including requirements such as ownership changes in investments, and interim-period accounting for enacted changes in tax law.	1/1/2021	We are currently evaluating the potential impact of the adoption of this new guidance on our consolidated financial statements. We do not expect this new guidance to have a material impact on our consolidated financial statements.
ASU 2020-06, Debt - Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging - Contracts in Entity’s Own Equity (Subtopic 815-40)	The amendment simplifies the accounting for convertible instruments by reducing the number of accounting models available for convertible debt instruments and convertible preferred stock. The amendment also requires expanded disclosures about the terms and features of convertible instruments. Early adoption is permitted, but no earlier than fiscal years beginning after December 15, 2020.	1/1/2022	We are currently evaluating the potential impact of the adoption of this new guidance on our consolidated financial statements and if there are applicable provisions that will simplify our accounting or reporting we will likely pursue early adoption.

Standard	Description	Date of adoption	Effect on the financial statements
Standards Recently Adopted
ASU 2016-13, Financial Instruments – Credit Losses (Topic 326) - Measurement of Credit Losses on Financial Instruments	The amendment eliminates the incurred credit loss impairment methodology and replaces it with an expected credit loss concept based on historical experience, current conditions, and reasonable and supportable forecasts.	1/1/2020	We adopted this new standard on a modified retrospective basis. The adoption of this new standard on January 1, 2020 did not have a material impact on our condensed consolidated financial statements.
ASU 2020-04, Reference Rate Reform (Topic 848)	The amendment provides temporary optional guidance to ease the potential burden in accounting for reference rate reform. Topic 848 provides optional expedients and exceptions for applying U.S. GAAP to transactions affected by reference rate reform if certain criteria are met.	3/12/2020	Topic 848 was effective beginning on March 12, 2020, and we will apply the amendments prospectively through December 31, 2022. There was no impact to our condensed consolidated financial statements as a result of adopting this amendment.

Significant Accounting Policies

Use of Estimates

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reported period. Estimates and assumptions are used in accounting for, among other things: impairment testing of recorded goodwill and intangible assets and long-lived assets; allowances for uncollectible accounts receivable; sales reserve allowances; provisions for income taxes, including uncertain tax positions; valuation allowances related to deferred tax assets; liabilities for losses related to self-insured liability claims; liabilities for losses related to environmental remediation obligations; sublease income associated with restructuring liabilities; pension and postretirement benefit costs and obligations; share-based compensation costs; the discount rates used to value lease obligations; the redemption value of redeemable noncontrolling interests; and the allocation of purchase price of acquired businesses. Actual results could differ from these and other estimates.

Revenue Recognition

Revenue is measured based on a specified amount of consideration in a contract with a customer, net of commissions paid to customers and amounts collected on behalf of third parties. We recognize revenue when a performance obligation is satisfied by transferring control of a product or service to a customer.

GES’ service revenue is primarily derived through its comprehensive range of services to event organizers and corporate brand marketers including Core Services, Event Technology, and Audio-Visual. GES’ service revenue is earned over time over the duration

of the exhibition, conference, or corporate event, which generally lasts one to three days. GES’ product revenue is derived from the build of exhibits and environments and graphics. GES’ product revenue is recognized at a point in time upon delivery of the product.

Pursuit’s service revenue is derived through its admissions, accommodations, transportation, and travel planning services. Pursuit’s product revenue is derived through food and beverage and retail sales. Pursuit’s revenue is recognized at the time services are performed or upon delivery of the product. Pursuit’s service revenue is recognized over time as the customer simultaneously receives and consumes the benefits. Pursuit’s product revenue is recognized at a point in time.

Noncontrolling Interests – Non-redeemable and Redeemable

Non-redeemable noncontrolling interest represents the portion of equity in a subsidiary that is not attributable, directly or indirectly, to us. Our non-redeemable noncontrolling interest relates to the 20% equity ownership interest that we do not own in Glacier Park, Inc., the 40% equity interest that we do not own in the Mountain Park Lodges, and the 49% equity interest that we do not own in the new entity that will operate the Pursuit Sky Lagoon attraction. We report non-redeemable noncontrolling interest within stockholders’ equity in the Condensed Consolidated Balance Sheets. The amount of consolidated net income or loss attributable to Viad and the non-redeemable noncontrolling interest is presented in the Condensed Consolidated Statements of Operations.

We consider noncontrolling interests with redemption features that are not solely within our control to be redeemable noncontrolling interests. Our redeemable noncontrolling interest relates to our 54.5% equity ownership interest in Esja Attractions ehf. (“Esja”), which owns the FlyOver Iceland attraction. The Esja shareholders agreement contains a put option that gives the minority Esja shareholders the right to sell (or “put”) their Esja shares to us based on a calculated formula within a predefined term. This redeemable noncontrolling interest is considered temporary equity and we report it between liabilities and stockholders’ equity in the Condensed Consolidated Balance Sheets. The amount of the net income or loss attributable to redeemable noncontrolling interests is recorded in the Condensed Consolidated Statements of Operations and the accretion of the redemption value is recorded as an adjustment to retained earnings and is included in our income per share. Refer to Note 21 – Redeemable Noncontrolling Interest for additional information.

Convertible Preferred Stock

We record shares of convertible preferred stock at fair value on the date of issuance, net of issuance costs. Redeemable preferred stock (including preferred stock that features redemption rights that are either within the control of the holder or subject to redemption upon the occurrence of uncertain events not solely within our control) is classified as temporary equity and is reported between liabilities and stockholders’ equity on the Condensed Consolidated Balance Sheets.

Leases

We recognize a right-of-use (“ROU”) asset and lease liability on the balance sheet and classify leases as either finance or operating leases. The classification of the lease determines whether we recognize the lease expense on an effective interest method basis (finance lease) or on a straight-line basis (operating lease) over the lease term. In determining whether an agreement contains a lease, we consider if we have a right to control the use of the underlying asset during the lease term in exchange for an obligation to make lease payments arising from the lease. We recognize ROU assets and lease liabilities at commencement date, which is when the underlying asset is available for use to a lessee, based on the present value of lease payments over the lease term.

Our operating and finance leases are primarily facility, equipment, and land leases. Our facility leases comprise mainly manufacturing facilities, sales and design facilities, offices, storage and/or warehouses, and truck marshaling yards. These facility leases generally have lease terms ranging up to 23 years. Our equipment leases comprise mainly vehicles, hardware, and office equipment, each with various lease terms. Our land leases comprise mainly leases in Canada and Iceland on which our hotels or attractions are located and have lease terms ranging up to 47 years.

If a lease contains a renewal option that is reasonably certain to be exercised, then the lease term includes the optional periods in measuring a ROU asset and lease liability. We evaluate the reasonably certain threshold at lease commencement, and it is typically met if we identify substantial economic incentives or termination penalties. We do not include variable leases and variable non-lease components in the calculation of the ROU asset and corresponding lease liability. For facility leases, variable lease costs include the costs of common area maintenance, taxes, and insurance for which we pay our lessors an estimate that we adjust to actual expense on a quarterly or annual basis depending on the underlying contract terms. We expense these variable lease payments as incurred. Our lease agreements do not contain any significant residual value guarantees or restrictive covenants.

Substantially all of our lease agreements do not specify an implicit borrowing rate, and as such, we utilize an incremental borrowing rate based on lease term and country, in order to calculate the present value of our future lease payments. The discount rate represents a risk-adjusted rate on a collateralized basis and is the expected rate at which we would borrow funds to satisfy the scheduled lease liability payment streams commensurate with the lease term and the country.

We are also a lessor to third party tenants who either lease certain portions of facilities that we own or sublease certain portions of facilities that we lease. We record lease income from owned facilities as rental income and we record sublease income from leased facilities against lease expense in the Condensed Consolidated Statements of Operations. We classify all of our leases for which we are the lessor as operating leases.

Revenue and Related Contract Costs and Contract Liabilities

9 Months Ended

Sep. 30, 2020

Revenue From Contract With Customer [Abstract]

Note 2. Revenue and Related Contract Costs and Contract Liabilities

GES’ performance obligations consist of services or product(s) outlined in a contract. While we often sign multi-year contracts for recurring events, the obligations for each occurrence are well defined and conclude upon the occurrence of each event. The obligations are typically the provision of services and/or sale of a product in connection with an exhibition, conference, or other event. GES’ revenue is earned over time over the duration of the event, but as a practical expedient we recognize revenue when we have a right to invoice at the close of the exhibition, conference, or corporate event, which typically lasts one to three days, or when a customer cancels a contract. We recognize revenue for consumer events over the duration of the event. We recognize revenue for products either upon delivery to the customer’s location, upon delivery to an event that we are serving, or when we have the right to invoice, generally at the close of the exhibition, conference, or corporate event, or when a customer cancels a contract. If a customer cancels a contract, then GES is generally contractually able to invoice the customer for contract costs that have been incurred by GES in preparing for the exhibition, conference, or corporate event. Payment terms are generally within 30-60 days and contain no significant financing components.

Pursuit’s performance obligations are short-term in nature. They include the provision of a hotel room, an attraction admission, a chartered or ticketed bus or van ride, the fulfillment of travel planning itineraries, and/or the sale of food, beverage, or retail products. We recognize revenue when the service has been provided or the product has been delivered. When we extend credit, payment terms are generally within 30 days and contain no significant financing components.

Contract Liabilities

GES and Pursuit typically receive customer deposits prior to transferring the related product or service to the customer. We record these deposits as a contract liability, which are recognized as revenue upon satisfaction of the related contract performance obligation(s). GES also provides customer rebates and volume discounts to certain event organizers that we recognize as a reduction of revenue. We include these amounts in the Condensed Consolidated Balance Sheets under the captions “Contract liabilities” and “Other deferred items and liabilities.”

Changes to contract liabilities are as follows:

(in thousands)
Balance at December 31, 2019	$	50,796
Cash additions		130,018
Revenue recognized		(162,954	)
Foreign exchange translation adjustment		(84	)
Balance at September 30, 2020	$	17,776

Contract Costs

GES capitalizes certain incremental costs incurred in obtaining and fulfilling contracts. Capitalized costs principally relate to direct costs of materials and services incurred in fulfilling services of future exhibitions, conferences, and events, and also include up-front incentives and commissions incurred upon contract signing. We expense costs associated with preliminary contract activities (i.e. proposal activities) as incurred. Capitalized contract costs are expensed upon the transfer of the related goods or services and are included in cost of services or cost of products, as applicable. We include the deferred incremental costs of obtaining and fulfilling contracts in the Condensed Consolidated Balance Sheets under the captions “Current contract costs” and “Other investments and assets.”

Changes to contract costs are as follows:

(in thousands)
Balance at December 31, 2019	$	28,496
Additions		16,710
Expenses		(22,774	)
Cancelled		(9,840	)
Foreign exchange translation adjustment		(479	)
Balance at September 30, 2020	$	12,113

As of September 30, 2020, capitalized contract costs consisted of $1.2 million to obtain contracts and $10.9 million to fulfill contracts. We did not recognize an impairment loss with respect to capitalized contract costs during the three and nine months ended September 30, 2020 or 2019.

Disaggregation of Revenue

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

GES

	Three Months Ended September 30, 2020
(in thousands)	GES North America		GES EMEA			Intersegment Eliminations			Total
Services:
Core services	$	7,987	$	2,003		$	—		$	9,990
Audio-visual		933		(40	)		—			893
Event technology		1,283		414			—			1,697
Intersegment eliminations		—		—			(284	)		(284	)
Total services		10,203		2,377			(284	)		12,296
Products:
Core products		1,564		397			—			1,961
Total revenue	$	11,767	$	2,774		$	(284	)	$	14,257

Timing of revenue recognition:
Services transferred over time	$	10,203	$	2,377		$	(284	)	$	12,296
Products transferred over time⁽¹⁾		232		15			—			247
Products transferred at a point in time		1,332		382			—			1,714
Total revenue	$	11,767	$	2,774		$	(284	)	$	14,257

Markets:
Exhibitions	$	4,890	$	2,323		$	—		$	7,213
Conferences		1,099		367			—			1,466
Corporate events		4,537		67			—			4,604
Consumer events		1,241		17			—			1,258
Intersegment eliminations		—		—			(284	)		(284	)
Total revenue	$	11,767	$	2,774		$	(284	)	$	14,257

⁽¹⁾	GES’ graphics product revenue is earned over time over the duration of the event as it is considered a part of the single performance obligation satisfied over time.

	Nine Months Ended September 30, 2020
(in thousands)	GES North America		GES EMEA		Intersegment Eliminations			Total
Services:
Core services	$	225,414	$	33,350	$	—		$	258,764
Audio-visual		18,661		3,549		—			22,210
Event technology		7,946		4,126		—			12,072
Intersegment eliminations		—		—		(3,258	)		(3,258	)
Total services		252,021		41,025		(3,258	)		289,788
Products:
Core products		21,402		11,071		—			32,473
Total revenue	$	273,423	$	52,096	$	(3,258	)	$	322,261

Timing of revenue recognition:
Services transferred over time	$	252,021	$	41,025	$	(3,258	)	$	289,788
Products transferred over time⁽¹⁾		11,035		2,407		—			13,442
Products transferred at a point in time		10,367		8,664		—			19,031
Total revenue	$	273,423	$	52,096	$	(3,258	)	$	322,261

Markets:
Exhibitions	$	203,671	$	39,001	$	—		$	242,672
Conferences		39,626		7,618		—			47,244
Corporate events		24,012		5,308		—			29,320
Consumer events		6,114		169		—			6,283
Intersegment eliminations		—		—		(3,258	)		(3,258	)
Total revenue	$	273,423	$	52,096	$	(3,258	)	$	322,261

⁽¹⁾	GES’ graphics product revenue is earned over time over the duration of the event as it is considered a part of the single performance obligation satisfied over time.

	Three Months Ended September 30, 2019
(in thousands)	GES North America		GES EMEA		Intersegment Eliminations			Total
Services:
Core services	$	148,722	$	20,539	$	—		$	169,261
Audio-visual		18,742		4,402		—			23,144
Event technology		4,760		1,414		—			6,174
Intersegment eliminations		—		—		(5,724	)		(5,724	)
Total services		172,224		26,355		(5,724	)		192,855
Products:
Core products		12,900		12,945		—			25,845
Total revenue	$	185,124	$	39,300	$	(5,724	)	$	218,700

Timing of revenue recognition:
Services transferred over time	$	172,224	$	26,355	$	(5,724	)	$	192,855
Products transferred over time⁽¹⁾		10,558		2,305		—			12,863
Products transferred at a point in time		2,342		10,640		—			12,982
Total revenue	$	185,124	$	39,300	$	(5,724	)	$	218,700

Markets:
Exhibitions	$	79,589	$	29,140	$	—		$	108,729
Conferences		60,537		4,938		—			65,475
Corporate events		39,370		5,020		—			44,390
Consumer events		5,628		202		—			5,830
Intersegment eliminations		—		—		(5,724	)		(5,724	)
Total revenue	$	185,124	$	39,300	$	(5,724	)	$	218,700

⁽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.}

	Nine Months Ended September 30, 2019
(in thousands)	GES North America		GES EMEA		Intersegment Eliminations			Total
Services:
Core services	$	531,485	$	86,715	$	—		$	618,200
Audio-visual		61,323		15,171		—			76,494
Event technology		23,368		6,501		—			29,869
Intersegment eliminations		—		—		(14,731	)		(14,731	)
Total services		616,176		108,387		(14,731	)		709,832
Products:
Core products		50,649		48,086		—			98,735
Total revenue	$	666,825	$	156,473	$	(14,731	)	$	808,567

Timing of revenue recognition:
Services transferred over time	$	616,176	$	108,387	$	(14,731	)	$	709,832
Products transferred over time⁽¹⁾		33,601		10,595		—			44,196
Products transferred at a point in time		17,048		37,491		—			54,539
Total revenue	$	666,825	$	156,473	$	(14,731	)	$	808,567

Markets:
Exhibitions	$	349,106	$	119,189	$	—		$	468,295
Conferences		195,635		17,170		—			212,805
Corporate events		102,525		19,165		—			121,690
Consumer events		19,559		949		—			20,508
Intersegment eliminations		—		—		(14,731	)		(14,731	)
Total revenue	$	666,825	$	156,473	$	(14,731	)	$	808,567

⁽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.}

Pursuit

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
(in thousands)	2020			2019			2020			2019
Services:
Admissions	$	12,229		$	49,353		$	17,865		$	76,034
Accommodations		18,021			41,292			23,994			56,636
Transportation		445			6,868			2,513			12,817
Travel planning		855			2,004			1,484			4,107
Intersegment eliminations		(144	)		(671	)		(261	)		(1,355	)
Total services revenue		31,406			98,846			45,595			148,239
Products:
Food and beverage		6,783			19,333			9,047			28,903
Retail operations		10,626			16,864			12,960			23,977
Total products revenue		17,409			36,197			22,007			52,880
Total revenue	$	48,815		$	135,043		$	67,602		$	201,119

Timing of revenue recognition:
Services transferred over time	$	31,406		$	98,846		$	45,595		$	148,239
Products transferred at a point in time		17,409			36,197			22,007			52,880
Total revenue	$	48,815		$	135,043		$	67,602		$	201,119

Markets:
Banff Jasper Collection	$	26,395		$	75,337		$	39,234		$	116,433
Alaska Collection		5,436			26,909			6,167			39,287
Glacier Park Collection		14,929			28,098			16,813			36,296
FlyOver		2,055			4,699			5,388			9,103
Total revenue	$	48,815		$	135,043		$	67,602		$	201,119

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 606
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Share-Based Compensation

9 Months Ended

Sep. 30, 2020

Share-Based Compensation

Note 3. Share-Based Compensation

We grant share-based compensation awards to our officers, directors, and certain key employees pursuant to the 2017 Viad Corp Omnibus Incentive Plan (the “2017 Plan”). The 2017 Plan has a 10-year term and provides for the following types of awards: (a) incentive and non-qualified stock options; (b) restricted stock awards and restricted stock units; (c) performance units or performance shares; (d) stock appreciation rights; (e) cash-based awards; and (f) certain other stock-based awards. In June 2017, we registered 1,750,000 shares of common stock issuable under the 2017 Plan. As of September 30, 2020, there were 1,077,197 shares available for future grant under the 2017 Plan.

The following table summarizes share-based compensation (income) expense:

	Three Months Ended					Nine Months Ended
	September 30,					September 30,
(in thousands)	2020		2019			2020			2019
Performance unit incentive plan (“PUP”)	$	149	$	1,033		$	(2,596	)	$	4,013
Restricted stock awards and restricted stock units		1,698		798			3,155			2,435
Stock options		90		—			90			—
Share-based compensation expense before income tax		1,937		1,831			649			6,448
Income tax benefit⁽¹⁾		—		(460	)		—			(1,625	)
Share-based compensation expense, net of income tax	$	1,937	$	1,371		$	649		$	4,823

⁽¹⁾	^{There was no income tax benefit for the three and nine months ended September 30, 2020 due to the valuation allowance on our deferred tax assets. Refer to Note 16 – Income Taxes.}

PUP Awards

PUP awards are performance-based restricted stock units that are tied to our stock price and the expected achievement of certain performance-based criteria. The vesting of PUP award shares is based upon the achievement of the performance-based criteria over a three-year period. We account for PUP awards that will be settled in shares of our common stock as equity-based awards. We measure share-based compensation expense of equity-based awards at fair value on the grant date on a straight-line basis over the vesting period. The estimated number of shares to be achieved is updated each reporting period. We account for PUP awards that will be settled in cash as liability-based awards. We measure share-based compensation expense of liability-based awards at fair value at each reporting date until the date of settlement. Forfeitures are accounted for as they occur.

During the nine months ended September 30, 2020, we granted PUP awards with a grant date fair value of $4.8 million of which $1.8 million are payable in shares. Liabilities related to PUP awards were $0.4 million as of September 30, 2020 and $5.3 million as of December 31, 2019. During the nine months ended September 30, 2020, the value of the PUP awards decreased due to the reduction of our estimated performance achievement and the decline in our stock price as a result of the COVID-19 pandemic.

In 2020, PUP awards granted in 2017 vested and we paid $2.6 million in cash. No PUP awards were paid in shares in 2020. In 2019, PUP awards granted in 2016 vested and we paid $5.6 million in cash and $3.4 million in shares. In 2019, we withheld 25,771 shares for $1.5 million related to tax withholding requirements on vested PUP awards paid in shares.

The following table summarizes the activity of the outstanding PUP awards:

	Equity-Based PUP Awards				Liability-Based PUP Awards
	Shares		Weighted-Average Grant Date Fair Value		Shares			Weighted-Average Grant Date Fair Value
Balance at December 31, 2019		59,714	$	52.10		155,190		$	52.53
Granted		32,367	$	56.23		52,531		$	56.10
Vested		—	$	—		(67,866	)	$	47.43
Forfeited		—	$	—		(18,370	)	$	56.40
Balance at September 30, 2020		92,081	$	55.49		121,485		$	55.08

Restricted Stock Awards and Restricted Stock Units

Restricted stock awards and restricted stock units are service-based awards. We account for restricted stock awards and restricted stock units that will be settled in shares of our common stock as equity-based awards. We measure share-based compensation expense of equity-based awards at fair value on the grant date on a straight-line basis over the vesting period.

We account for restricted stock units that will be settled in cash as liability-based awards. We measure share-based compensation expense of liability-based awards at fair value at each reporting date until the date of settlement. Forfeitures are accounted for as they occur.

As of September 30, 2020, the unamortized cost of outstanding equity-based restricted stock awards and restricted stock units was $2.6 million, which we expect to recognize over a weighted-average period of approximately 1.2 years. We repurchased 17,961 shares for $1.1 million during the nine months ended September 30, 2020 and 24,586 shares for $1.4 million during the nine months ended September 30, 2019 related to tax withholding requirements on vested share-based awards.

Aggregate liabilities related to liability-based restricted stock units were $0.8 million as of September 30, 2020 and $0.4 million as of December 31, 2019. During the nine months ended September 30, 2020, restricted stock units vested, and we paid $0.2 million in cash and $0.8 million in shares. During the nine months ended September 30, 2019, restricted stock units vested, and we paid $0.3 million in cash and $0.2 million in shares.

The following table summarizes the activity of the outstanding restricted stock awards and restricted stock units:

	Equity-Based Restricted Stock Awards					Equity-Based Restricted Stock Units					Liability-Based Restricted Stock Units
	Shares			Weighted-Average Grant Date Fair Value		Shares			Weighted-Average Grant Date Fair Value		Shares			Weighted-Average Grant Date Fair Value
Balance at December 31, 2019		136,123		$	52.66		—		$	—		11,623		$	52.17
Granted		55,171		$	51.06		232,435		$	19.44		3,952		$	50.43
Vested		(64,684	)	$	49.85		(38,982	)	$	19.30		(2,815	)	$	47.45
Forfeited		(15,192	)	$	56.54		(2,183	)	$	19.30		(1,634	)	$	56.59
Balance at September 30, 2020		111,418		$	52.97		191,270		$	19.47		11,126		$	52.10

Stock Options

We grant non-qualified stock options that are performance-based, as well as non-qualified options that are service-based. The performance-based awards are recognized on a straight-line basis over the performance period ranging from 1.4 to 3.4 years, and the underlying shares expected to be settled are adjusted each reporting period based on estimated future achievement of the respective performance metrics. The service-based awards are recognized on a straight-line basis over the requisite service period on a graded-vesting schedule over three years.

The following table summarizes stock option activity:

	Shares			Weighted-Average Exercise Price		Aggregate Intrinsic Value⁽¹⁾
Options outstanding and exercisable at December 31, 2019		41,143		$	16.62
Granted		204,150		$	19.98
Exercised		(41,143	)	$	16.62
Options outstanding at September 30, 2020		204,150		$	19.98	$	229,500
Options exercisable at September 30, 2020		—		$	—	$	—

⁽¹⁾	^{The aggregate intrinsic value of stock options outstanding represents the difference between our closing stock price at the end of the reporting period and the exercise price, multiplied by the number of in-the-money stock options.}

The following table summarizes stock options outstanding and exercisable as of September 30, 2020:

		Options Outstanding						Options Exercisable
Range of exercise prices		Shares		Weighted-Average Remaining Contractual Life (in years)		Weighted-Average Exercise Price		Shares		Weighted-Average Exercise Price
$	19.30		150,000		8.25	$	19.30		—	$	—
$	21.85		54,150		6.91	$	21.85		—	$	—
$19.30 - $21.85			204,150		7.89	$	19.98		—	$	—

The fair value of stock options granted in 2020 was estimated on the date of grant using the Black-Scholes option pricing model. Following is additional information on stock options and the underlying assumptions used in assessing fair value:

	Nine Months Ended
	September 30, 2020
Assumptions used to estimate fair value of stock options granted:
Risk-free interest rate	0.27% - 0.31%
Expected life	4.3 - 5.4 years
Expected volatility	46.9% - 52.2%
Expected dividend yield		—
Weighted average grant-date fair value per share of options granted	$	8.38
Cash received from exercise of options (in thousands)	$	2,077

As of September 30, 2020, the total unrecognized compensation cost related to non-vested stock option awards was $1.6 million. We expect to recognize such costs over a weighted-average period of approximately 2.5 years. No stock options were granted in 2019.

Acquisitions

9 Months Ended

Sep. 30, 2020

Business Combinations [Abstract]

Acquisitions

Note 4. Acquisitions

2019 Acquisitions

Belton Chalet

On May 16, 2019, we acquired the Belton Chalet in Glacier National Park for total cash consideration of $3.2 million. Transaction costs associated with the acquisition were $0.3 million during 2019, which are included in “Cost of services” in the Consolidated Statements of Operations. We included these assets in the consolidated financial statements from the date of acquisition.

Mountain Park Lodges

On June 8, 2019, we acquired a 60% equity interest in Mountain Park Lodges’ group of seven hotels and an undeveloped land parcel located in Jasper National Park for total consideration of $100.6 million Canadian dollars (approximately $76 million U.S. dollars).

As the majority owner of these properties, we consolidate 100% of the results of operations in our consolidated financial statements and record the 40% owners’ share of the income or loss attributable to non-redeemable noncontrolling interest.

Transaction costs associated with the Mountain Park Lodges were $0.9 million in 2019, which are included in “Corporate activities” in the Consolidated Statements of Operations. We included these assets and results of operations in the consolidated financial statements from the date of acquisition. During the three months ended September 30, 2020, revenue and operating income related to the Mountain Park Lodges were $8.9 million and $4.4 million, respectively. During the nine months ended September 30, 2020, revenue and operating income related to the Mountain Park Lodges were $12.9 million and $0.2 million, respectively.

Identifiable intangible assets acquired in the Mountain Park Lodges acquisition were $20.2 million and consist primarily of in-place leases, customer relationships, and trade names. The weighted average amortization period related to the intangible assets was approximately 30.8 years.

Sky Lagoon Attraction

On July 25, 2019, we announced plans for a new geothermal lagoon attraction that will be located on an oceanfront lot just outside downtown Reykjavik, Iceland. We acquired a 51% controlling interest for $13.2 million in the new entity that will manage the Sky Lagoon attraction, which we will operate in partnership with Geothermal Lagoon ehf., the Icelandic entity that owns the lagoon assets. The noncontrolling interest’s carrying value was determined by the fair value of the noncontrolling interest as of the acquisition date and the noncontrolling interest’s share of the subsequent net income or loss. The amortization of the resulting operating contract intangible is not deductible for tax purposes. We expect to open our new attraction in 2021.

Supplementary pro forma financial information

The following table summarizes the unaudited pro forma results of operations attributable to Viad, assuming the completion of the Mountain Park Lodges acquisition was on January 1, 2019. We do not consider the Sky Lagoon attraction or the Belton Chalet significant acquisitions and accordingly, they are not included in the following pro forma results of operations:

	Three Months Ended		Nine Months Ended
(in thousands, except per share data)	September 30, 2019		September 30, 2019
Revenue	$	362,488	$	1,058,622
Depreciation and amortization	$	16,347	$	46,695
Income from continuing operations	$	34,607	$	28,709
Net income attributable to Viad	$	31,416	$	26,765
Diluted income per share	$	1.53	$	1.29
Basic income per share	$	1.53	$	1.29

Inventories

9 Months Ended

Sep. 30, 2020

Inventory Disclosure [Abstract]

Inventories

Note 5. Inventories

We state inventories, which consist primarily of exhibit design and construction materials and supplies, as well as retail inventory, at the lower of cost (first-in, first-out and specific identification methods) or net realizable value.

The components of inventories consisted of the following:

	September 30,		December 31,
(in thousands)	2020		2019
Raw materials	$	10,796	$	11,788
Finished goods		5,500		5,481
Inventories	$	16,296	$	17,269

Other Current Assets

9 Months Ended

Sep. 30, 2020

Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract]

Other Current Assets

Note 6. Other Current Assets

Other current assets consisted of the following:

	September 30,		December 31,
(in thousands)	2020		2019
Prepaid software maintenance	$	4,045	$	3,875
Prepaid insurance		2,565		5,573
Prepaid vendor payments		2,106		4,698
Prepaid taxes		1,087		917
Income tax receivable		162		13,250
Prepaid other		2,097		1,904
Other		4,134		637
Other current assets	$	16,196	$	30,854

Property and Equipment

9 Months Ended

Sep. 30, 2020

Property Plant And Equipment [Abstract]

Property and Equipment

Note 7. Property and Equipment

Property and equipment consisted of the following:

	September 30,			December 31,
(in thousands)	2020			2019
Land and land interests	$	32,481		$	34,532
Buildings and leasehold improvements		374,549			377,754
Equipment and other		400,085			417,239
Gross property and equipment		807,115			829,525
Accumulated depreciation		(352,456	)		(353,974	)
Property and equipment, net (excluding finance leases)		454,659			475,551
Finance lease right-of-use assets, net		22,786			25,350
Property and equipment, net	$	477,445		$	500,901

Depreciation expense was $11.5 million for the three months ended September 30, 2020 and $35.1 million for the nine months ended September 30, 2020. Depreciation expense was $12.7 million for the three months ended September 30, 2019 and $34.0 million for the nine months ended September 30, 2019.

Amortization expense on finance lease assets was $0.9 million for the three months ended September 30, 2020 and $2.8 million for the nine months ended September 30, 2020. Amortization expense on finance lease assets was $0.7 million for the three months ended September 30, 2019 and $1.9 million for the nine months ended September 30, 2019.

Property and equipment purchased through accounts payable and accrued liabilities decreased $6.3 million during the nine months ended September 30, 2020 and increased $2.0 million during the nine months ended September 30, 2019.

We recorded fixed asset impairment charges primarily related to capitalized software of $0.7 million during the three months ended September 30, 2020.

Other Investments and Assets

9 Months Ended

Sep. 30, 2020

Investments All Other Investments [Abstract]

Other Investments and Assets

Note 8. Other Investments and Assets

Other investments and assets consisted of the following:

	September 30,		December 31,
(in thousands)	2020		2019
Self-insured liability receivable	$	9,982	$	9,982
Contract costs		4,464		3,961
Other mutual funds		3,136		3,107
Cash surrender value of life insurance		—		24,873
Other		2,355		3,196
Other investments and assets	$	19,937	$	45,119

Goodwill and Other Intangible Assets

9 Months Ended

Sep. 30, 2020

Goodwill And Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

Note 9. Goodwill and Other Intangible Assets

The changes in the carrying amount of goodwill are as follows:

(in thousands)	GES North America			GES EMEA			Pursuit			Total
Balance at December 31, 2019	$	155,276		$	30,829		$	101,878		$	287,983
Goodwill impairment		(155,276	)		(29,042	)		(1,757	)		(186,075	)
Foreign currency translation adjustments		—			(1,787	)		(3,190	)		(4,977	)
Balance at September 30, 2020	$	—		$	—		$	96,931		$	96,931

Goodwill is tested for impairment at the reporting unit level on an annual basis as of October 31, and between annual tests if an event occurs or circumstances change that would more-likely-than-not reduce the fair value of a reporting unit below its carrying value. We use a discounted expected future cash flow methodology (income approach) in order to estimate the fair value of our reporting units for purposes of goodwill impairment testing.

In early March 2020, as a result of COVID-19 concerns, we began to see event postponements and cancellations at GES, as well as cancelled bookings at Pursuit. This quickly escalated into the shut-down of event activity and tourism as government mandated closures and stay-at-home orders went more broadly into effect around the world. As demand halted, we essentially placed our businesses into a state of hibernation to preserve cash. As government mandated closures and stay-at-home orders started to be lifted, we began to restart our business with enhanced health and safety protocols in place. We phased in most of Pursuit’s attractions and lodging operations starting in May and continuing into July. However, exhibition and event activity remain largely closed. For GES, we believe that as governments continue to lift restrictions, events in certain geographies will gradually increase.

During the three months ended March 31, 2020, we determined that an interim triggering event had occurred due to the deteriorating macroeconomic environment, disruptions to our operations, and the sustained decline in our stock price caused by COVID-19. As such, we performed an interim evaluation of goodwill as of March 31, 2020. As a result, we recorded non-cash goodwill impairment charges of $41.9 million associated with GES U.S., $29.0 million associated with GES EMEA, and $1.8 million associated with Pursuit’s Glacier Park Collection. We recorded an income tax benefit of $12.4 million during the three months ended March 31, 2020 related to these goodwill impairment charges. This income tax benefit was reversed during the second quarter of 2020 due to the recording of a valuation allowance. Refer to Note 16 – Income Taxes.

During the three months ended June 30, 2020, GES continued to experience event postponements and cancellations and we experienced further declines in our stock price. There had also been an increased spread of the COVID-19 virus throughout the United States, which resulted in further closures and government orders that we believed had increased the uncertainty regarding when the live event industry would re-commence and how long it would take to get back to similar pre-COVID-19 business levels. The uncertainty regarding the duration of the current domestic and global economic conditions and whether further deterioration in the macroeconomic environment would continue as a result of the COVID-19 pandemic was factored into our second quarter goodwill impairment analysis. As a result, we recorded a full impairment charge to the remaining GES goodwill balance of $113.1 million during the three months ended June 30, 2020. Our remaining goodwill balance as of September 30, 2020 of $96.9 million pertains to our Pursuit business.

During the three months ended September 30, 2020, the travel and hospitality industry continued to be negatively impacted by the COVID-19 pandemic. Although Pursuit’s reporting units continued to operate at a loss due to travel restrictions, as there were no significant changes to our outlook for the future years and the risk profile of the reporting units had not changed, we did not record any additional impairment charges during the third quarter. Additionally, we experienced a slight increase in our stock price during the three months ended September 30, 2020.

Given the evolving, uncertain nature of COVID-19, and the uncertain government and consumer reactions, the estimates and assumptions regarding expected future cash flows, discount rates, and terminal values used in our goodwill impairment analysis require considerable judgment and are based on our current estimates of market conditions, financial forecasts, and industry trends. These estimates, however, have inherent uncertainties and different assumptions could lead to materially different results including additional impairment charges in the future.

Other intangible assets consisted of the following:

		September 30, 2020							December 31, 2019
(in thousands)	Useful Life (Years)	Gross Carrying Value		Accumulated Amortization			Net Carrying Value		Gross Carrying Value		Accumulated Amortization			Net Carrying Value
Intangible assets subject to amortization:
Customer contracts and relationships	6.4	$	40,006	$	(27,381	)	$	12,625	$	72,219	$	(40,866	)	$	31,353
Operating contracts and licenses	36.8		39,156		(2,258	)		36,898		43,329		(1,881	)		41,448
In-place lease	13.8		14,670		(532	)		14,138		15,044		(231	)		14,813
Tradenames	5.5		5,687		(2,155	)		3,532		9,423		(4,338	)		5,085
Non-compete agreements	1.3		736		(552	)		184		2,077		(1,775	)		302
Other	7.4		783		(90	)		693		802		(66	)		736
Total amortized intangible assets			101,038		(32,968	)		68,070		142,894		(49,157	)		93,737
Indefinite-lived intangible assets:
Business licenses			568		—			568		571		—			571
Other intangible assets		$	101,606	$	(32,968	)	$	68,638	$	143,465	$	(49,157	)	$	94,308

Intangible asset amortization expense was $1.5 million for the three months ended September 30, 2020 and $5.2 million for the nine months ended September 30, 2020. Intangible asset amortization expense was $2.9 million for the three months ended September 30, 2019 and $8.2 million for the nine months ended September 30, 2019. We recorded an impairment charge to intangible assets of $15.7 million during the nine months ended September 30, 2020 related to our U.S. audio-visual production business. The duration and impact of COVID-19 may result in additional future impairment charges as facts and circumstances evolve.

At September 30, 2020, the estimated future amortization expense related to intangible assets subject to amortization is as follows:

(in thousands)
Year ending December 31,
Remainder of 2020	$	1,278
2021		5,089
2022		4,968
2023		4,322
2024		3,383
Thereafter		49,030
Total	$	68,070

Other Current Liabilities

9 Months Ended

Sep. 30, 2020

Other Liabilities Current [Abstract]

Other Current Liabilities

Note 10. Other Current Liabilities

Other current liabilities consisted of the following:

	September 30,		December 31,
(in thousands)	2020		2019
Continuing operations:
Self-insured liability	$	6,227	$	5,668
Accrued restructuring		4,574		2,130
Accrued sales and use taxes		2,914		5,451
Commissions payable		2,541		8,274
Accrued employee benefit costs		2,108		3,564
Current portion of pension and postretirement liabilities		1,722		1,899
Accrued professional fees		1,137		1,248
Accrued legal settlement		—		2,500
Accrued dividends		—		2,019
Other taxes		1,655		278
Accommodation services deposits		506		959
Other		6,204		5,187
Total continuing operations		29,588		39,177
Discontinued operations:
Self-insured liability		422		260
Environmental remediation liabilities		60		311
Other		57		76
Total discontinued operations		539		647
Total other current liabilities	$	30,127	$	39,824

Other Deferred Items and Liabilities

9 Months Ended

Sep. 30, 2020

Other Liabilities Disclosure [Abstract]

Other Deferred Items and Liabilities

Note 11. Other Deferred Items and Liabilities

Other deferred items and liabilities consisted of the following:

	September 30,		December 31,
(in thousands)	2020		2019
Continuing operations:
Foreign deferred tax liability	$	25,127	$	32,570
Multi-employer pension plan withdrawal liability		15,970		15,693
Self-insured excess liability		9,982		9,982
Self-insured liability		8,046		8,682
Accrued compensation		4,806		7,485
Accrued restructuring		2,447		2,383
Contract liabilities		623		125
Other		3,487		2,423
Total continuing operations		70,488		79,343
Discontinued operations:
Environmental remediation liabilities		2,186		1,964
Self-insured liability		1,824		2,018
Other		676		382
Total discontinued operations		4,686		4,364
Total other deferred items and liabilities	$	75,174	$	83,707

Debt and Finance Lease Obligations

9 Months Ended

Sep. 30, 2020

Debt Disclosure [Abstract]

Debt and Finance Lease Obligations

Note 12. Debt and Finance Lease Obligations

The components of long-term debt and finance lease obligations consisted of the following:

	September 30,			December 31,
(in thousands, except interest rates)	2020			2019
2018 Credit Facility, 4.6% weighted-average interest rate at September 30, 2020 and 3.9% at December 31, 2019, due through 2023⁽¹⁾	$	230,543		$	311,464
FlyOver Iceland Credit Facility, 4.9% weighted-average interest rate at September 30, 2020 and December 31, 2019, due through 2022⁽¹⁾		5,584			5,607
Less unamortized debt issuance costs		(2,953	)		(1,836	)
Total debt ⁽²⁾		233,174			315,235
Finance lease obligations, 7.9% weighted-average interest rate at September 30, 2020 and 7.7% at December 31, 2019, due through 2039		23,018			25,257
Total debt and finance lease obligations ⁽³⁾		256,192			340,492
Current portion ⁽⁴⁾		(4,040	)		(5,330	)
Long-term debt and finance lease obligations	$	252,152		$	335,162

⁽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 $222.0 million as of September 30, 2020 and $339.4 million as of December 31, 2019. 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 $12.1 million for the nine months ended September 30, 2020 and $8.8 million for the nine months ended September 30, 2019.

⁽⁴⁾

Subsequent to the filing of our 2019 Form 10-K, we identified a correction related to the classification of the 2018 Credit Facility (as defined below) from current to long-term given that the 2018 Credit Facility’s contractual maturity was not within 12 months of the balance sheet date, and we were in compliance with all applicable covenants as of December 31, 2019. As a result, we corrected the classification of the debt on the accompanying condensed consolidated balance sheet and the disclosure related to classification of debt in the table above as of December 31, 2019 to present the 2018 Credit Facility as long-term. Except for this change, the correction had no impact upon this Quarterly Report on Form 10-Q. We determined that the error is not material to the previously issued financial statements.

2018 Credit Agreement

Effective October 24, 2018, we entered into a Second Amended and Restated Credit Agreement (the “2018 Credit Agreement”). The 2018 Credit Agreement has a maturity date of October 24, 2023 and provides for a $450 million revolving credit facility (“2018 Credit Facility”). Borrowings and letters of credit can be denominated in U.S. dollars, Euros, Canadian dollars, or British pounds. Under the 2018 Credit Agreement, our lenders have a first perfected security interest in all of our personal property. As of September 30, 2020, we were not in compliance with our financial covenants, however, we obtained financial covenant relief until September 30, 2022 pursuant to the amendment to the 2018 Credit Agreement described below.

Effective August 5, 2020, we entered into an amendment to the 2018 Credit Agreement, which, among other things, (i) waives our financial covenants until September 30, 2022 (the “Covenant Waiver Period”) and (ii) requires us to maintain minimum liquidity of $125 million with a step down to $100 million at December 31, 2020. The Covenant Waiver Period will be in effect until the earlier of September 30, 2022 or the fiscal quarter when our leverage ratio is less than or equal to 4.00 to 1.00. Post Covenant Waiver Period, the maximum leverage ratio will be less than or equal to 4.50 to 1.00 at September 30, 2022 with a step down to less than or equal to 4.00 to 1.00 at December 31, 2022 and thereafter until the maturity date. The minimum interest coverage ratio will be greater than or equal to 2.00 to 1.00 post Covenant Waiver Period and until maturity of the facility. The interest rate on the borrowings is equal to LIBOR plus 350 basis points, with a LIBOR floor of one percent during the Covenant Waiver Period. The LIBOR floor continues until the end of the 2018 Credit Agreement. A revised pricing grid goes into effect after the Covenant Waiver Period ends. Additionally, we are precluded from paying cash dividends, from issuing unsecured debt, and from accessing the $250 million expansion feature during the Covenant Waiver Period. The amendment allows us to make acquisitions under certain conditions. Viad pledged 100% of the capital stock of its wholly-owned domestic subsidiaries and it top-tier foreign subsidiaries (other than Esja). Fees related to the amendment were approximately $1.7 million. Refer to Note 1 – Overview and Basis of Presentation (Impact of COVID-19) for additional information.

During the three months ended September 30, 2020, we repaid approximately $217 million of principal on our outstanding 2018 Credit Facility. As of September 30, 2020, capacity remaining under the 2018 Credit Facility was $209.8 million, reflecting borrowings of $230.5 million and $9.7 million in outstanding letters of credit.

We index borrowings under the 2018 Credit Facility to the prime rate or the LIBOR, plus appropriate spreads tied to our leverage ratio. As LIBOR will be phased out in 2021, our 2018 Credit Facility includes a method for determining an alternative or successor rate of interest that considers the new prevailing market convention. The vast majority of our borrowings under the 2018 Credit Facility are indexed to LIBOR. Commitment fees and letters of credit fees are also tied to our leverage ratio. The fees on the unused portion of the 2018 Credit Facility were 0.50% annually as of September 30, 2020. We index only our borrowings under the 2018 Credit Facility and the discount rates we use to account for some leases to LIBOR. We do not expect the alternative or successor rate to LIBOR to have a material impact on either our 2018 Credit Facility or the accounting for our leases.

FlyOver Iceland Credit Facility

Effective February 15, 2019, FlyOver Iceland ehf., a wholly-owned subsidiary of Esja, entered into a credit agreement with a €5.0 million (approximately $5.6 million U.S. dollars) credit facility (the “FlyOver Iceland Credit Facility”) with a maturity date of March 1, 2022. We used the loan proceeds to complete the development of the FlyOver Iceland attraction. In response to COVID-19, we entered into an addendum to the FlyOver Iceland Credit Facility effective May 14, 2020 wherein the principal and interest payments were deferred for six months beginning June 1, 2020, with the first payment due December 1, 2020. The addendum also extended the maturity date to September 1, 2022. There were no other changes to the terms of the FlyOver Iceland Credit Facility. Effective July 31, 2020, we obtained a waiver of certain covenants to the FlyOver Iceland Credit Facility through 2021.

Fair Value Measurements

9 Months Ended

Sep. 30, 2020

Fair Value Disclosures [Abstract]

Fair Value Measurements

Note 13. Fair Value Measurements

The fair value of an asset or liability is defined as the price that would be received by selling an asset or paying to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value guidance requires an entity to maximize the use of quoted prices and other observable inputs and minimize the use of unobservable inputs when measuring fair value, and also establishes a fair value hierarchy, which prioritizes the inputs to valuation techniques used to measure fair value as follows:

Level 1 - Quoted prices in active markets for identical assets or liabilities.

Level 2 - Observable inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly.

Level 3 - Unobservable inputs to the valuation methodology that are significant to the measurement of fair value.

Money market mutual funds and certain other mutual fund investments are measured at fair value on a recurring basis using Level 1 inputs. The fair value information related to these assets is summarized in the following tables:

			Fair Value Measurements at Reporting Date Using
(in thousands)	September 30, 2020		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Money market funds ⁽¹⁾	$	2	$	2	$	—	$	—
Other mutual funds ⁽²⁾		3,136		3,136		—		—
Total assets at fair value on a recurring basis	$	3,138	$	3,138	$	—	$	—

			Fair Value Measurements at Reporting Date Using
(in thousands)	December 31, 2019		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Money market funds ⁽¹⁾	$	123	$	123	$	—	$	—
Other mutual funds ⁽²⁾		3,107		3,107		—		—
Total assets at fair value on a recurring basis	$	3,230	$	3,230	$	—	$	—

⁽¹⁾

^{We include money market funds in “Cash and cash equivalents” in the Condensed Consolidated Balance Sheets. We classify these investments as available-for-sale and record them at fair value. There have been no realized gains or losses related to these investments and we have not experienced any redemption restrictions with respect to any of the money market mutual funds.}

⁽²⁾	We include other mutual funds in “Other investments and assets” in the Condensed Consolidated Balance Sheets.

The carrying values of cash and cash equivalents, receivables, and accounts payable approximate fair value due to the short-term nature of these instruments. Refer to Note 12 – Debt and Finance Lease Obligations for the estimated fair value of debt obligations.

Accumulated Other Comprehensive Income (Loss)

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Accumulated Other Comprehensive Income (Loss)

9 Months Ended

Sep. 30, 2020

Equity [Abstract]

Note 14. Accumulated Other Comprehensive Income (Loss)

Changes in accumulated other comprehensive income (“AOCI”) by component are as follows:

(in thousands)	Cumulative Foreign Currency Translation Adjustments			Unrecognized Net Actuarial Loss and Prior Service Credit, Net			Accumulated Other Comprehensive Income (Loss)
Balance at December 31, 2019	$	(23,799	)	$	(11,900	)	$	(35,699	)
Other comprehensive loss before reclassifications		(7,342	)		—			(7,342	)
Amounts reclassified from AOCI, net of tax		—			354			354
Net other comprehensive income (loss)		(7,342	)		354			(6,988	)
Balance at September 30, 2020	$	(31,141	)	$	(11,546	)	$	(42,687	)

(in thousands)	Cumulative Foreign Currency Translation Adjustments			Unrecognized Net Actuarial Loss and Prior Service Credit, Net			Accumulated Other Comprehensive Income (Loss)
Balance at December 31, 2018	$	(36,332	)	$	(11,643	)	$	(47,975	)
Other comprehensive income before reclassifications		3,868			—			3,868
Amounts reclassified from AOCI, net of tax		—			196			196
Net other comprehensive income		3,868			196			4,064
Balance at September 30, 2019	$	(32,464	)	$	(11,447	)	$	(43,911	)

Amounts reclassified that relate to our defined benefit pension and postretirement plans include the amortization of prior service costs and actuarial net losses recognized during each period presented. We recorded these costs as components of net periodic cost for each period presented. Refer to Note 17 – Pension and Postretirement Benefits for additional information.

Income (Loss) Per Share

9 Months Ended

Sep. 30, 2020

Earnings Per Share [Abstract]

Income (Loss) Per Share

Note 15. Income (Loss) Per Share

The components of basic and diluted income per share are as follows:

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
(in thousands, except per share data)	2020			2019			2020			2019
Net income (loss) attributable to Viad (diluted)	$	(30,758	)	$	31,416		$	(323,621	)	$	27,463
Less: Allocation to non-vested shares		—			(226	)		—			(196	)
Convertible preferred stock dividends		(1,134	)		—			(1,134	)		—
Adjustment to the redemption value of redeemable noncontrolling interest		(468	)		(264	)		(926	)		(530	)
Net income (loss) allocated to Viad common stockholders (basic)	$	(32,360	)	$	30,926		$	(325,681	)	$	26,737
Basic weighted-average outstanding common shares		20,293			20,168			20,263			20,129
Additional dilutive shares related to share-based compensation		—			143			—			138
Diluted weighted-average outstanding shares		20,293			20,311			20,263			20,267
Income (loss) per share:
Basic income (loss) attributable to Viad common stockholders	$	(1.59	)	$	1.53		$	(16.07	)	$	1.33
Diluted income (loss) attributable to Viad common stockholders⁽¹⁾	$	(1.59	)	$	1.53		$	(16.07	)	$	1.33

⁽¹⁾	^{Diluted loss per share amount cannot exceed basic loss per share.}

The dilutive effect of the outstanding common shares, excluding the Convertible Series A Preferred Stock, is reflected in diluted loss per share by application of the treasury stock method. The dilutive effect of the Convertible Series A Preferred Stock is reflected in the diluted loss per share by application of the if-converted method.

Income Taxes

9 Months Ended

Sep. 30, 2020

Income Tax Disclosure [Abstract]

Income Taxes

Note 16. Income Taxes

The effective tax rate was a negative 2.7% for the three months ended September 30, 2020 and 25.6% for the three months ended September 30, 2019. The effective tax rate was a negative 6.8% for the nine months ended September 30, 2020 and 26.5% for the nine months ended September 30, 2019.

The negative effective tax rates for the three and nine months ended September 30, 2020 were due to no tax benefits being recorded on our U.S., United Kingdom, and other European jurisdictions as a result of recording a valuation allowance during the second quarter of 2020 against our net deferred tax assets in these jurisdictions due to our belief that it is more likely than not that we will not realize the tax benefits from the current year losses realized in these jurisdictions.

In response to the COVID-19 pandemic, many governments have enacted or are contemplating measures to provide aid and economic stimulus. These measures may include deferring the due dates of tax payments or other changes to income and non-income-based tax

laws. For the three and nine months ended September 30, 2020, there were no material tax impacts to our condensed consolidated financial statements as they relate to COVID-19 measures.

We received $6.8 million and $14.7 million of tax refunds in excess of payments for the three and nine months ended September 30, 2020, respectively. Net cash paid for income taxes was $4.1 million and $12.1 million for the three and nine months ended September 30, 2019, respectively.

Compensation And Retirement Disclosure [Abstract]

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

Pension and Postretirement Benefits

9 Months Ended

Sep. 30, 2020

Pension and Postretirement Benefits

Note 17. Pension and Postretirement Benefits

The components of net periodic benefit cost of our pension and postretirement benefit plans for the three months ended September 30, 2020 and 2019 consist of the following:

	Domestic Plans
	Pension Plans						Postretirement Benefit Plans						Foreign Pension Plans
(in thousands)	2020			2019			2020			2019			2020			2019
Service cost	$	—		$	15		$	7		$	13		$	112		$	101
Interest cost		162			209			64			93			87			92
Expected return on plan assets		(74	)		(35	)		—			—			(134	)		(122	)
Amortization of prior service credit		—			—			(36	)		(47	)		—			—
Recognized net actuarial loss		130			96			(26	)		(43	)		48			37
Net periodic benefit cost	$	218		$	285		$	9		$	16		$	113		$	108

The components of net periodic benefit cost of our pension and postretirement benefit plans for the nine months ended September 30, 2020 and 2019 consist of the following:

	Domestic Plans
	Pension Plans						Postretirement Benefit Plans						Foreign Pension Plans
(in thousands)	2020			2019			2020			2019			2020			2019
Service cost	$	—		$	46		$	38		$	48		$	330		$	303
Interest cost		490			646			222			343			254			281
Expected return on plan assets		(109	)		(74	)		—			—			(394	)		(364	)
Amortization of prior service credit		—			—			(109	)		(141	)		—			—
Recognized net actuarial loss		395			302			13			84			138			111
Net periodic benefit cost	$	776		$	920		$	164		$	334		$	328		$	331

We expect to contribute $1.3 million to our funded pension plans, $0.9 million to our unfunded pension plans, and $1.0 million to our postretirement benefit plans in 2020. During the nine months ended September 30, 2020, we contributed $0.2 million to our funded pension plans, $0.7 million to our unfunded pension plans, and $0.6 million to our postretirement benefit plans.

The entire disclosure for retirement benefits.

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Restructuring And Related Activities [Abstract]

Restructuring Charges

9 Months Ended

Sep. 30, 2020

Restructuring Charges

Note 18. Restructuring Charges

GES

As part of our efforts to drive efficiencies and simplify our business operations, we took certain restructuring actions designed to simplify and transform GES for greater profitability. In response to the COVID-19 pandemic in 2020, we accelerated our transformation and streamlining efforts at GES to significantly reduce costs and create a lower and more flexible cost structure focused on servicing our more profitable market segments. These initiatives included recording restructuring charges related to the elimination of positions and facility closures at GES, as well as charges related to the closure and liquidation of GES’ United Kingdom-based audio-visual services business.

Other Restructurings

We recorded restructuring charges in connection with the consolidation of certain support functions at our corporate headquarters. These charges primarily consist of severance and related benefits due to headcount reductions and charges related to the downsizing of facilities.

Changes to the restructuring liability by major restructuring activity are as follows:

	GES						Other Restructurings
(in thousands)	Severance & Employee Benefits			Facilities			Severance & Employee Benefits			Total
Balance at December 31, 2019	$	2,935		$	1,339		$	239		$	4,513
Restructuring charges		5,332			6,039			999			12,370
Cash payments		(3,261	)		(197	)		(569	)		(4,027	)
Non-cash items⁽¹⁾		—			(5,152	)		—			(5,152	)
Adjustment to liability		(54	)		(17	)		(612	)		(683	)
Balance at September 30, 2020	$	4,952		$	2,012		$	57		$	7,021

(1)	Represents the FX impact related to the closure and liquidation of GES’ United Kingdom-based audio-visual services business during the three months ended September 30, 2020.

As of September 30, 2020, we expect to pay all but $1.5 million of the liabilities related to severance and employee benefits by the end of 2020. The liability related to future lease payments will be paid over the remaining lease terms. Refer to Note 22 – Segment Information, for information regarding restructuring charges by segment.

Leases and Other

9 Months Ended

Sep. 30, 2020

Leases [Abstract]

Leases and Other

Note 19. Leases and Other

The balance sheet presentation of our operating and finance leases is as follows:

		September 30,		December 31,
(in thousands)	Classification on the Condensed Consolidated Balance Sheet	2020		2019
Assets:
Operating lease assets	Operating lease right-of-use assets	$	88,394	$	103,314
Finance lease assets	Property and equipment, net		22,786		25,350
Total lease assets		$	111,180	$	128,664

Liabilities:
Current:
Operating lease obligations	Operating lease obligations	$	17,872	$	22,180
Finance lease obligations	Current portion of debt and finance lease obligations		2,895		3,386
Noncurrent:
Operating lease obligations	Long-term operating lease obligations		73,688		82,851
Finance lease obligations	Long-term debt and finance lease obligations		20,123		21,871
Total lease liabilities		$	114,578	$	130,288

The components of lease expense consisted of the following:

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(in thousands)	2020		2019		2020		2019
Finance lease cost:
Amortization of right-of-use assets	$	926	$	697	$	2,767	$	1,895
Interest on lease liabilities		429		130		1,258		379
Operating lease cost		6,596		6,625		20,235		19,456
Short-term lease cost		123		571		465		1,348
Variable lease cost		1,557		1,478		4,615		4,695
Sublease income⁽¹⁾		—		226		—		—
Total lease cost, net	$	9,631	$	9,727	$	29,340	$	27,773

⁽¹⁾ Sublease income excludes rental income from owned assets, which is recorded in revenue.

Other information related to operating and finance leases are as follows:

	Three Months Ended					Nine Months Ended
	September 30,					September 30,
(in thousands)	2020			2019		2020			2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	5,644		$	7,250	$	18,268		$	20,853
Operating cash flows from finance leases	$	839		$	210	$	1,705		$	459
Financing cash flows from finance leases	$	665		$	525	$	2,235		$	1,537
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	(3,059	)	$	49,123	$	1,018		$	62,375
Finance leases	$	126		$	14,893	$	1,894		$	35,844

						September 30,			December 31,
						2020			2019
Weighted-average remaining lease term (years):
Operating leases							8.30			8.17
Finance leases							13.58			14.01
Weighted-average discount rate:
Operating leases							5.89	%		5.77	%
Finance leases							7.91	%		7.73	%

As of September 30, 2020, the estimated future minimum lease payments under non-cancellable leases, excluding variable leases and variable non-lease components, are as follows:

(in thousands)	Operating Leases			Finance Leases			Total
Remainder of 2020	$	6,188		$	1,458		$	7,646
2021		20,043			4,284			24,327
2022		15,844			3,796			19,640
2023		13,407			3,276			16,683
2024		10,265			2,609			12,874
Thereafter		54,410			23,556			77,966
Total future lease payments		120,157			38,979			159,136
Less: Amount representing interest		(28,597	)		(15,961	)		(44,558	)
Present value of minimum lease payments		91,560			23,018			114,578
Current portion		17,872			2,895			20,767
Long-term portion	$	73,688		$	20,123		$	93,811

As of September 30, 2020, the estimated future minimum rentals under non-cancellable leases, which includes rental income from facilities that we own, are as follows:

(in thousands)
Remainder of 2020	$	431
2021		1,499
2022		1,046
2023		830
2024		612
Thereafter		1,765
Total minimum rents	$	6,183

Leases Not Yet Commenced

As of September 30, 2020, we had executed certain facility and land leases for which we did not have control of the underlying assets. Accordingly, we did not record the lease liabilities and right-of-use assets on our Condensed Consolidated Balance Sheets. These leases include future planned attractions for Pursuit that are currently in the planning or development phase and that we expect the lease commencement dates to begin between fiscal years 2021 and 2022 with lease terms of 15 to 47 years.

Litigation, Claims, Contingencies and Other

9 Months Ended

Sep. 30, 2020

Commitments And Contingencies Disclosure [Abstract]

Litigation, Claims, Contingencies and Other

Note 20. Litigation, Claims, Contingencies, and Other

We are plaintiffs or defendants to various actions, proceedings, and pending claims, some of which involve, or may involve, compensatory, punitive, or other damages. Litigation is subject to many uncertainties and it is possible that some of the legal actions, proceedings, or claims could be decided against us. During the three months ended March 31, 2019, we recorded an $8.5 million charge to resolve a legal dispute at GES involving a former industry contractor. Although the amount of liability as of September 30, 2020 with respect to unresolved legal matters is not ascertainable, we believe that any resulting liability, after taking into consideration amounts already provided for and insurance coverage, will not have a material effect on our business, financial position, or results of operations.

On July 18, 2020, an off-road Ice Explorer operated by our Pursuit business was involved in an accident enroute with 27 people to the Athabasca Glacier, resulting in three fatalities and multiple other serious injuries. We continue to support the victims and their families, and we are fully cooperating with the applicable regulatory authorities to investigate this accident. We immediately reported the accident to our relevant insurance carriers, who are also supporting the investigation. Subject to customary deductibles, we believe that our insurance coverage is sufficient to cover potential claims related to this accident.

We are subject to various U.S. federal, state, and foreign laws and regulations governing the prevention of pollution and the protection of the environment in the jurisdictions in which we have or had operations. If we fail to comply with these environmental laws and regulations, civil and criminal penalties could be imposed, and we could become subject to regulatory enforcement actions in the form of injunctions and cease and desist orders. As is the case with many companies, we also face exposure to actual or potential claims and lawsuits involving environmental matters relating to our past operations. As of September 30, 2020, we had recorded environmental remediation liabilities of $2.2 million related to previously sold operations. Although we are a party to certain environmental disputes, we believe that any resulting liabilities, after taking into consideration amounts already provided for and insurance coverage, will not have a material effect on our financial position or results of operations.

As of September 30, 2020, on behalf of our subsidiaries, we had certain obligations under guarantees to third parties. These guarantees are not subject to liability recognition in the condensed consolidated financial statements and relate to leased facilities and equipment leases entered into by our subsidiary operations. We would generally be required to make payments to the respective third parties under these guarantees in the event that the related subsidiary could not meet its own payment obligations. The maximum potential amount of future payments that we would be required to make under all guarantees existing as of September 30, 2020 would be $75.5 million. These guarantees relate to our leased equipment and facilities through January 2040. There are no recourse provisions that would enable us to recover from third parties any payments made under the guarantees. Furthermore, there are no collateral or similar arrangements pursuant to which we could recover payments.

A significant number of our employees are unionized and we are a party to approximately 100 collective-bargaining agreements, with approximately one-third requiring renegotiation each year. If we are unable to reach an agreement with a union during the collective-bargaining process, the union may call for a strike or work stoppage, which may, under certain circumstances, adversely impact our business and results of operations. We believe that relations with our employees are satisfactory and that collective-bargaining agreements expiring in 2020 will be renegotiated in the ordinary course of business. Although our labor relations are currently stable, disruptions could occur, with the possibility of an adverse impact on the operating results of GES. During the three months ended June 30, 2019, we finalized the terms of a new collective-bargaining agreement with the Teamsters Local 727 union. The terms included a withdrawal from the underfunded Central States Pension Plan. Accordingly, we recorded a charge of $15.5 million, which represents the estimated present value of future contributions we will be required to make to the plan as a result of this withdrawal and $0.2 million of other withdrawal costs.

We are self-insured up to certain limits for workers’ compensation and general liabilities, which includes automobile, product general liability, and client property loss claims. The aggregate amount of insurance liabilities (up to our retention limit) related to our continuing operations was $14.3 million as of September 30, 2020, which includes $9.8 million related to workers’ compensation liabilities, and $4.5 million related to general liability claims. We have also retained and provided for certain workers’ compensation insurance liabilities in conjunction with previously sold businesses of $2.2 million as of September 30, 2020. We are also self-insured for certain employee health benefits and the estimated employee health benefit claims incurred but not yet reported was $1.5 million as of September 30, 2020. Provisions for losses for claims incurred, including actuarially derived estimated claims incurred but not yet reported, are made based on our historical experience, claims frequency, and other factors. A change in the assumptions used could result in an adjustment to recorded liabilities. We have purchased insurance for amounts in excess of the self-insured levels, which generally range from $0.2 million to $0.5 million on a per claim basis. We do not maintain a self-insured retention pool fund as claims are paid from current cash resources at the time of settlement. Our net cash payments in connection with these insurance liabilities were $1.6 million for the three months ended September 30, 2020 and $4.4 million for the nine months ended September 30, 2020 and $2.0 million for the three months ended September 30, 2019 and $5.3 million for the nine months ended September 30, 2019.

In addition, as of September 30, 2020, we have recorded insurance liabilities of $10.0 million related to continuing operations, which represents the amount for which we remain the primary obligor after self-insured insurance limits, without taking into consideration

the above-referenced insurance coverage. Of this total, $6.5 million related to workers’ compensation liabilities and $3.5 million related to general/auto liability claims, which are recorded in other deferred items and liabilities in the Condensed Consolidated Balance Sheets with a corresponding receivable in other investments.

Redeemable Noncontrolling Interest

9 Months Ended

Sep. 30, 2020

Noncontrolling Interest [Abstract]

Redeemable Noncontrolling Interest

Note 21. Redeemable Noncontrolling Interest

On November 3, 2017, we acquired the controlling interest (54.5% of the common stock) in Esja, a private corporation in Reykjavik, Iceland. Through Esja and its wholly-owned subsidiary, we are operating a new FlyOver Iceland attraction.

The minority Esja shareholders have the right to sell (or “put”) their Esja shares to us based on a multiple of 5.0x EBITDA as calculated on the trailing 12 months from the most recently completed quarter before the put option exercise. The put option is only exercisable after 36 months of business operation (the “Reference Date”) and if the FlyOver Iceland attraction has earned a minimum of €3.25 million in unadjusted EBITDA during the most recent fiscal year and during the trailing 12-month period prior to exercise (the “Put Option Condition”). The put option is exercisable during a period of 12 months following the Reference Date (the “Option Period”) if the Put Option Condition has been met. If the Put Option Condition has not been met during the first Option Period, the Reference Date will be extended for an additional 12 months up to three times. If after 72 months, the FlyOver Iceland attraction has not achieved the Put Option Condition, the put option expires. If the Put Option Condition is met during any of the Option Periods, yet the shares are not exercised prior to the end of the 12-month Option Period, the put option will expire.

The noncontrolling interest’s carrying value is determined by the fair value of the noncontrolling interest as of the acquisition date and the noncontrolling interest’s share of the subsequent net income or loss. This value is benchmarked against the redemption value of the sellers’ put option. The carrying value is adjusted to the redemption value, provided that it does not fall below the initial carrying value, as determined by the purchase price allocation. We have made a policy election to reflect any changes caused by such an adjustment to retained earnings, rather than to current earnings.

Changes in the redeemable noncontrolling interest are as follows:

(in thousands)
Balance at December 31, 2019	$	6,172
Net loss attributable to redeemable noncontrolling interest		(1,023	)
Adjustment to the redemption value		926
Foreign currency translation adjustment		(804	)
Balance at September 30, 2020	$	5,271

Segment Information

9 Months Ended

Sep. 30, 2020

Segment Reporting [Abstract]

Segment Information

Note 22. Segment Information

We measure the profit and performance of our operations on the basis of segment operating income (loss), which excludes restructuring charges and recoveries and impairment charges. Intersegment sales are eliminated in consolidation and intersegment transfers are not significant. Corporate activities include expenses not allocated to operations. Depreciation and amortization and share-based compensation expense are the only significant non-cash items for the reportable segments.

Our reportable segments, with reconciliations to consolidated totals, are as follows:

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
(in thousands)	2020			2019			2020			2019
Revenue:
GES:
GES North America	$	11,767		$	185,124		$	273,423		$	666,825
GES EMEA		2,774			39,300			52,096			156,473
Intersegment eliminations		(284	)		(5,724	)		(3,258	)		(14,731	)
Total GES		14,257			218,700			322,261			808,567
Pursuit		48,815			135,043			67,602			201,119
Total revenue	$	63,072		$	353,743		$	389,863		$	1,009,686
Segment operating income (loss):
GES:
GES North America	$	(10,986	)	$	(8,562	)	$	(28,194	)	$	22,635
GES EMEA		(7,262	)		(3,024	)		(11,256	)		2,775
Total GES		(18,248	)		(11,586	)		(39,450	)		25,410
Pursuit		11,467			66,392			(26,499	)		64,710
Segment operating income (loss)		(6,781	)		54,806			(65,949	)		90,120
Corporate eliminations ⁽¹⁾		16			16			48			49
Corporate activities		(2,645	)		(2,680	)		(5,902	)		(7,795	)
Operating income (loss)		(9,410	)		52,142			(71,803	)		82,374
Interest income		58			79			313			260
Interest expense		(5,508	)		(3,740	)		(14,712	)		(9,612	)
Multi-employer pension plan withdrawal		—			—			(462	)		(15,508	)
Other expense		(210	)		(281	)		(894	)		(1,192	)
Restructuring recoveries (charges):
GES North America		(2,310	)		(881	)		(2,277	)		(5,139	)
GES EMEA		(8,376	)		(759	)		(9,094	)		(1,501	)
Pursuit		12			—			(45	)		—
Corporate		(585	)		(62	)		(954	)		(205	)
Impairment charges:
GES North America		—			—			(171,094	)		—
GES EMEA		(676	)		—			(30,225	)		—
Pursuit		—			—			(1,757	)		—
Legal settlement:
GES		—			—			—			(8,500	)
Income (loss) from continuing operations before income taxes	$	(27,005	)	$	46,498		$	(303,004	)	$	40,977

⁽¹⁾	^{Corporate eliminations represent the elimination of depreciation expense recorded by Pursuit associated with previously eliminated intercompany profit realized by GES for renovations to Pursuit’s Banff Gondola.}

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Common and Preferred Stock

Common and Preferred Stock

9 Months Ended

Sep. 30, 2020

Equity [Abstract]

Note 23. Common and Preferred Stock

Convertible Series A Preferred Stock

On August 5, 2020, we entered into an Investment Agreement with funds managed by private equity firm Crestview Partners, relating to the issuance of 135,000 shares of newly issued Convertible Series A Preferred Stock, par value $0.01 per share, for an aggregate purchase price of $135 million or $1,000 per share. The $135 million issuance was offset in part by $9.2 million of expenses related to the capital raise. The Investment Agreement also includes a delayed draw commitment of up to $45 million in additional Convertible Series A Preferred Stock, which we may access during the 12 months following the August 5, 2020 closing date on the same terms and conditions as the initial investment. We have classified the convertible preferred stock as temporary equity in our consolidated balance sheet due to the existence of certain change in control provisions that are not solely within our control.

The Convertible Series A Preferred Stock carries a 5.5% cumulative quarterly dividend, which is payable in cash or in-kind at Viad’s option and is convertible at the option of the holders into shares of our common stock at a conversion price of $21.25 per share. Upon the occurrence of a change in control event, the holders have a right to require Viad to repurchase such preferred stock. During the three months ended September 30, 2020, $1.1 million of dividends were deemed declared and paid in-kind.

Holders of the Convertible Series A Preferred Stock are entitled to vote with holders of Viad’s common stock on an as-converted basis.

Common Stock Repurchases

We previously announced our Board of Directors’ authorization to repurchase shares of our common stock from time to time at prevailing market prices. Effective February 7, 2019, our Board of Directors authorized the repurchase of an additional 500,000 shares.

During the nine months ended September 30, 2020, we repurchased 53,784 shares on the open market for $2.8 million. As of September 30, 2020, 546,283 shares remain available for repurchase. No shares were purchased on the open market during the nine months ended September 30, 2019. Additionally, we repurchase shares related to tax withholding requirements on vested restricted stock awards. Refer to Note 3 – Share-Based Compensation.

In March 2020, our Board of Directors suspended our share repurchase program for the foreseeable future.

Stockholder Rights Plan

On March 29, 2020, our Board of Directors adopted a short-term stockholder rights plan and declared a dividend payable to stockholders of record on April 13, 2020 of one preferred stock purchase right per each outstanding share of Viad common stock to purchase one one-hundredth of a share of Viad’s Junior Participating Preferred Stock at an exercise price of $115.00. Our Board of Directors will be able to redeem the rights at $0.01 per right at any time before a person or group acquired 10% (20% in the case of a passive institutional investor) or more of the outstanding common stock. On August 5, 2020, the stockholder rights plan was amended, whereby Crestview and affiliated parties were designated as exempt persons, and as such the issuance of preferred stock to Crestview did not result in a triggering event. The rights otherwise expire on February 28, 2021, subject to our right to extend the date, unless we redeem, exchange, or terminate the rights earlier.

Subject to limited exceptions, if a person or group acquires 10% (20% in the case of a passive institutional investor) or more of our common stock (including shares that are synthetically owned pursuant to derivative transactions or ownership of derivative securities) or announces a tender offer, and the consummation of that offer would result in such ownership (we refer to such a person or group as an “acquiring person”), each right will entitle its holder to purchase, at the right’s then-current exercise price, a number of shares of common stock having a market value at that time of twice the right’s exercise price. Rights held by the acquiring person will become void and will not be exercisable. If the Company is acquired in a merger or other business combination transaction that has not been approved by our Board of Directors after the rights become exercisable, each right will entitle its holder to purchase, at the right’s then-current exercise price, a number of shares of the acquiring company’s common stock having a market value at that time of twice the right’s exercise price.

Overview and Basis of Presentation (Policies)

9 Months Ended

Sep. 30, 2020

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Nature of Business

We are an international experiential services company with operations in the United States, Canada, the United Kingdom, continental Europe, the United Arab Emirates, and Iceland. We are committed to providing unforgettable experiences to our clients and guests. We operate through three reportable business segments: GES North America, GES EMEA (collectively, “GES”), and Pursuit.

GES

GES is a global, full-service live events company offering a comprehensive range of services to event organizers and corporate brand marketers. Event organizers schedule and run events from start to finish. Corporate brand marketers include exhibitors and domestic and international corporations that want to promote their brands, services and innovations, feature new products, and build business relationships. GES serves corporate brand marketers when they exhibit at shows and when GES is engaged to manage their global exhibit program or produce their proprietary corporate events.

Pursuit

Pursuit is a collection of inspiring and unforgettable travel experiences that include recreational attractions, unique hotels and lodges, food and beverage, retail, sightseeing, and ground transportation services. Pursuit comprises the Banff Jasper Collection, the Alaska Collection, the Glacier Park Collection, and FlyOver.

Impact of COVID-19

On March 11, 2020, the World Health Organization declared COVID-19 a “pandemic.” COVID-19 has spread rapidly, with a high concentration of confirmed cases in the U.S. and other countries in which we operate. The rapid spread has resulted in authorities around the world implementing numerous measures to contain the virus, such as travel bans and restrictions, quarantines, shelter-in-place orders, and business shutdowns. The COVID-19 pandemic and these containment measures have had, and are expected to continue to have, a substantial negative impact on businesses around the world and on global, regional, and national economies.

The COVID-19 pandemic is having and will likely continue to have a significant and negative impact on our operations and financial performance, with live events largely shut down and tourism activity disruptions. In response to the COVID-19 pandemic, we implemented aggressive cost reduction measures to preserve cash, including furloughs, layoffs, mandatory unpaid time off, or salary reductions for all employees, and the elimination of discretionary spending. We continue to implement measures to successfully adapt for the long-term impact of COVID-19. During the third quarter of 2020, we secured additional capital to strengthen our liquidity position and amended our Second Amended and Restated Credit Agreement (the “2018 Credit Agreement”) to provide financial flexibility.

Investment Agreement

On August 5, 2020, we entered into an investment agreement with funds managed by private equity firm Crestview Partners (the “Investment Agreement”) who made an initial investment of $135 million, offset in part by $9.2 million in fees, in newly issued perpetual convertible preferred stock that carries a 5.5% cumulative quarterly dividend, which is payable in cash or in-kind at Viad’s option (the “Convertible Preferred Stock”). The Convertible Preferred Stock is convertible into shares of our common stock at a conversion price of $21.25 per share. The Investment Agreement also includes a delayed draw commitment of up to $45 million in additional Convertible Preferred Stock, which we may access during the 12 months following the August 5, 2020 closing date on the same terms and conditions as the initial investment. The proceeds from Crestview’s initial investment were used to repay a portion of our 2018 Credit Facility, will provide additional short-term liquidity, will fund capital expenditures, and will support general corporate purposes. Pursuant to the Investment Agreement, two Crestview Partners’ designees joined our Board of Directors, increasing the size of our board from seven to nine directors.

Credit Agreement Amendment

On August 5, 2020, we entered into an amendment to our 2018 Credit Agreement, which, among other things, (i) waives our financial covenants until September 30, 2022 (the “Covenant Waiver Period”) and (ii) requires us to maintain minimum liquidity of $125 million with a step down to $100 million at December 31, 2020. The interest rate on the borrowings is equal to the London Interbank

Offered Rate (“LIBOR”) plus 350 basis points, with a LIBOR floor of one percent during the Covenant Waiver Period. The LIBOR floor continues until the end of the 2018 Credit Agreement. Viad pledged 100% of the capital stock of its wholly-owned domestic subsidiaries and its top-tier foreign subsidiaries (other than Esja Attractions ehf.). Fees related to the amendment were approximately $1.7 million.

Management anticipates that the initial cash proceeds from Crestview Partners, existing cash and cash equivalents, and the amendment to waive financial covenants within the 2018 Credit Agreement until September 30, 2022 will be sufficient to fund operations for at least the next 12 months.

Goodwill Impairment

Due to the deteriorating macroeconomic environment, disruptions to our operations, and the sustained decline in our stock price caused by COVID-19, we determined an interim triggering event had occurred in the first and second quarters of 2020, which required us to assess the carrying values of goodwill and intangible assets in accordance with Accounting Standards Codification (“ASC”) No. 350, Intangibles – Goodwill and Other. Based on this assessment, we recorded non-cash goodwill impairment charges of $186.1 million during the first half of 2020, including a full impairment charge to the remaining GES goodwill balance of $113.1 million in the second quarter of 2020. Our remaining goodwill balance as of September 30, 2020 of $96.9 million pertains to our Pursuit business. The duration and impact of COVID-19 may result in additional future impairment charges as facts and circumstances evolve. Refer to Note 9 – Goodwill and Other Intangible Assets for additional information.

Basis of Presentation

The accompanying unaudited condensed consolidated financial statements were prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and with the instructions to Form 10-Q and Article 10 of Regulation S-X for interim financial information. Accordingly, these financial statements do not include all of the information required by GAAP or SEC rules and regulations for complete financial statements. These financial statements reflect all adjustments (consisting of normal recurring adjustments) necessary for a fair presentation of the results for the interim periods presented. Interim results are not necessarily indicative of the results for the full year. These unaudited condensed consolidated financial statements should be read in conjunction with our Annual Report on Form 10-K for the year ended December 31, 2019, filed with the SEC on February 26, 2020 (“2019 Form 10-K”). Subsequent to the filing of the 2019 Form 10-K, we corrected the classification of debt as of December 31, 2019. Refer to Note 12 – Debt and Finance Lease Obligations.

The condensed consolidated financial statements include the accounts of Viad and its subsidiaries. We have eliminated all significant intercompany account balances and transactions in consolidation.

Correction to Prior Period Financial Statements

During the third quarter of 2020, we identified a prior period error related to the recognition of revenue of our GES’ Corporate Accounts’ third-party services. Revenue from these services should have been recorded on a net basis to reflect only the fees we receive from arranging these services. Previously, we recorded this revenue on a gross basis, thus overstating revenue and cost of services by the same amount. As a result, we corrected the accompanying Condensed Consolidated Statements of Operations for the three and nine months ended September 30, 2019 related to this gross-to-net adjustment. We determined that the error is not material to the previously issued financial statements. Note 2 – Revenue and Related Contract Costs and Contract Liabilities and Note 22 – Segment Information reflects this change.

	Three Months Ended September 30, 2019						Nine Months Ended September 30, 2019
(in thousands)	Services Revenue			Cost of Services			Services Revenue			Cost of Services
As previously reported	$	300,446		$	256,296		$	898,746		$	825,806
Gross to net correction for GES North America		(6,859	)		(6,859	)		(32,081	)		(32,081	)
Gross to net correction for GES EMEA		(1,886	)		(1,886	)		(8,594	)		(8,594	)
Total as corrected	$	291,701		$	247,551		$	858,071		$	785,131

Impact of Recent Accounting Pronouncements

The following table provides a brief description of recent accounting pronouncements:

Standard	Description	Date of adoption	Effect on the financial statements
Standards Not Yet Adopted
ASU 2019-12, Income Taxes (Topic 740) Simplifying the Accounting for Income Taxes	The amendment enhances and simplifies various aspects of the income tax accounting guidance, including requirements such as ownership changes in investments, and interim-period accounting for enacted changes in tax law.	1/1/2021	We are currently evaluating the potential impact of the adoption of this new guidance on our consolidated financial statements. We do not expect this new guidance to have a material impact on our consolidated financial statements.
ASU 2020-06, Debt - Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging - Contracts in Entity’s Own Equity (Subtopic 815-40)	The amendment simplifies the accounting for convertible instruments by reducing the number of accounting models available for convertible debt instruments and convertible preferred stock. The amendment also requires expanded disclosures about the terms and features of convertible instruments. Early adoption is permitted, but no earlier than fiscal years beginning after December 15, 2020.	1/1/2022	We are currently evaluating the potential impact of the adoption of this new guidance on our consolidated financial statements and if there are applicable provisions that will simplify our accounting or reporting we will likely pursue early adoption.

Standard	Description	Date of adoption	Effect on the financial statements
Standards Recently Adopted
ASU 2016-13, Financial Instruments – Credit Losses (Topic 326) - Measurement of Credit Losses on Financial Instruments	The amendment eliminates the incurred credit loss impairment methodology and replaces it with an expected credit loss concept based on historical experience, current conditions, and reasonable and supportable forecasts.	1/1/2020	We adopted this new standard on a modified retrospective basis. The adoption of this new standard on January 1, 2020 did not have a material impact on our condensed consolidated financial statements.
ASU 2020-04, Reference Rate Reform (Topic 848)	The amendment provides temporary optional guidance to ease the potential burden in accounting for reference rate reform. Topic 848 provides optional expedients and exceptions for applying U.S. GAAP to transactions affected by reference rate reform if certain criteria are met.	3/12/2020	Topic 848 was effective beginning on March 12, 2020, and we will apply the amendments prospectively through December 31, 2022. There was no impact to our condensed consolidated financial statements as a result of adopting this amendment.

Use of Estimates

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reported period. Estimates and assumptions are used in accounting for, among other things: impairment testing of recorded goodwill and intangible assets and long-lived assets; allowances for uncollectible accounts receivable; sales reserve allowances; provisions for income taxes, including uncertain tax positions; valuation allowances related to deferred tax assets; liabilities for losses related to self-insured liability claims; liabilities for losses related to environmental remediation obligations; sublease income associated with restructuring liabilities; pension and postretirement benefit costs and obligations; share-based compensation costs; the discount rates used to value lease obligations; the redemption value of redeemable noncontrolling interests; and the allocation of purchase price of acquired businesses. Actual results could differ from these and other estimates.

Revenue Recognition

Revenue is measured based on a specified amount of consideration in a contract with a customer, net of commissions paid to customers and amounts collected on behalf of third parties. We recognize revenue when a performance obligation is satisfied by transferring control of a product or service to a customer.

GES’ service revenue is primarily derived through its comprehensive range of services to event organizers and corporate brand marketers including Core Services, Event Technology, and Audio-Visual. GES’ service revenue is earned over time over the duration

of the exhibition, conference, or corporate event, which generally lasts one to three days. GES’ product revenue is derived from the build of exhibits and environments and graphics. GES’ product revenue is recognized at a point in time upon delivery of the product.

Pursuit’s service revenue is derived through its admissions, accommodations, transportation, and travel planning services. Pursuit’s product revenue is derived through food and beverage and retail sales. Pursuit’s revenue is recognized at the time services are performed or upon delivery of the product. Pursuit’s service revenue is recognized over time as the customer simultaneously receives and consumes the benefits. Pursuit’s product revenue is recognized at a point in time.

Noncontrolling Interests - Non-redeemable and Redeemable

Noncontrolling Interests – Non-redeemable and Redeemable

Non-redeemable noncontrolling interest represents the portion of equity in a subsidiary that is not attributable, directly or indirectly, to us. Our non-redeemable noncontrolling interest relates to the 20% equity ownership interest that we do not own in Glacier Park, Inc., the 40% equity interest that we do not own in the Mountain Park Lodges, and the 49% equity interest that we do not own in the new entity that will operate the Pursuit Sky Lagoon attraction. We report non-redeemable noncontrolling interest within stockholders’ equity in the Condensed Consolidated Balance Sheets. The amount of consolidated net income or loss attributable to Viad and the non-redeemable noncontrolling interest is presented in the Condensed Consolidated Statements of Operations.

We consider noncontrolling interests with redemption features that are not solely within our control to be redeemable noncontrolling interests. Our redeemable noncontrolling interest relates to our 54.5% equity ownership interest in Esja Attractions ehf. (“Esja”), which owns the FlyOver Iceland attraction. The Esja shareholders agreement contains a put option that gives the minority Esja shareholders the right to sell (or “put”) their Esja shares to us based on a calculated formula within a predefined term. This redeemable noncontrolling interest is considered temporary equity and we report it between liabilities and stockholders’ equity in the Condensed Consolidated Balance Sheets. The amount of the net income or loss attributable to redeemable noncontrolling interests is recorded in the Condensed Consolidated Statements of Operations and the accretion of the redemption value is recorded as an adjustment to retained earnings and is included in our income per share. Refer to Note 21 – Redeemable Noncontrolling Interest for additional information.

Convertible Preferred Stock

We record shares of convertible preferred stock at fair value on the date of issuance, net of issuance costs. Redeemable preferred stock (including preferred stock that features redemption rights that are either within the control of the holder or subject to redemption upon the occurrence of uncertain events not solely within our control) is classified as temporary equity and is reported between liabilities and stockholders’ equity on the Condensed Consolidated Balance Sheets.

Leases

We recognize a right-of-use (“ROU”) asset and lease liability on the balance sheet and classify leases as either finance or operating leases. The classification of the lease determines whether we recognize the lease expense on an effective interest method basis (finance lease) or on a straight-line basis (operating lease) over the lease term. In determining whether an agreement contains a lease, we consider if we have a right to control the use of the underlying asset during the lease term in exchange for an obligation to make lease payments arising from the lease. We recognize ROU assets and lease liabilities at commencement date, which is when the underlying asset is available for use to a lessee, based on the present value of lease payments over the lease term.

Our operating and finance leases are primarily facility, equipment, and land leases. Our facility leases comprise mainly manufacturing facilities, sales and design facilities, offices, storage and/or warehouses, and truck marshaling yards. These facility leases generally have lease terms ranging up to 23 years. Our equipment leases comprise mainly vehicles, hardware, and office equipment, each with various lease terms. Our land leases comprise mainly leases in Canada and Iceland on which our hotels or attractions are located and have lease terms ranging up to 47 years.

If a lease contains a renewal option that is reasonably certain to be exercised, then the lease term includes the optional periods in measuring a ROU asset and lease liability. We evaluate the reasonably certain threshold at lease commencement, and it is typically met if we identify substantial economic incentives or termination penalties. We do not include variable leases and variable non-lease components in the calculation of the ROU asset and corresponding lease liability. For facility leases, variable lease costs include the costs of common area maintenance, taxes, and insurance for which we pay our lessors an estimate that we adjust to actual expense on a quarterly or annual basis depending on the underlying contract terms. We expense these variable lease payments as incurred. Our lease agreements do not contain any significant residual value guarantees or restrictive covenants.

Substantially all of our lease agreements do not specify an implicit borrowing rate, and as such, we utilize an incremental borrowing rate based on lease term and country, in order to calculate the present value of our future lease payments. The discount rate represents a risk-adjusted rate on a collateralized basis and is the expected rate at which we would borrow funds to satisfy the scheduled lease liability payment streams commensurate with the lease term and the country.

We are also a lessor to third party tenants who either lease certain portions of facilities that we own or sublease certain portions of facilities that we lease. We record lease income from owned facilities as rental income and we record sublease income from leased facilities against lease expense in the Condensed Consolidated Statements of Operations. We classify all of our leases for which we are the lessor as operating leases.

Fair Value of Financial Instruments

The fair value of an asset or liability is defined as the price that would be received by selling an asset or paying to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value guidance requires an entity to maximize the use of quoted prices and other observable inputs and minimize the use of unobservable inputs when measuring fair value, and also establishes a fair value hierarchy, which prioritizes the inputs to valuation techniques used to measure fair value as follows:

Level 1 - Quoted prices in active markets for identical assets or liabilities.

Level 2 - Observable inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly.

Level 3 - Unobservable inputs to the valuation methodology that are significant to the measurement of fair value.

Overview and Basis of Presentation (Tables)

9 Months Ended

Sep. 30, 2020

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Schedule of Corrections to Prior Period Adjustments

	Three Months Ended September 30, 2019						Nine Months Ended September 30, 2019
(in thousands)	Services Revenue			Cost of Services			Services Revenue			Cost of Services
As previously reported	$	300,446		$	256,296		$	898,746		$	825,806
Gross to net correction for GES North America		(6,859	)		(6,859	)		(32,081	)		(32,081	)
Gross to net correction for GES EMEA		(1,886	)		(1,886	)		(8,594	)		(8,594	)
Total as corrected	$	291,701		$	247,551		$	858,071		$	785,131

Revenue and Related Contract Costs and Contract Liabilities (Tables)

9 Months Ended

Sep. 30, 2020

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, 2019	$	50,796
Cash additions		130,018
Revenue recognized		(162,954	)
Foreign exchange translation adjustment		(84	)
Balance at September 30, 2020	$	17,776

Summary of Changes in Contract Costs

Changes to contract costs are as follows:

(in thousands)
Balance at December 31, 2019	$	28,496
Additions		16,710
Expenses		(22,774	)
Cancelled		(9,840	)
Foreign exchange translation adjustment		(479	)
Balance at September 30, 2020	$	12,113

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

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

GES

	Three Months Ended September 30, 2020
(in thousands)	GES North America		GES EMEA			Intersegment Eliminations			Total
Services:
Core services	$	7,987	$	2,003		$	—		$	9,990
Audio-visual		933		(40	)		—			893
Event technology		1,283		414			—			1,697
Intersegment eliminations		—		—			(284	)		(284	)
Total services		10,203		2,377			(284	)		12,296
Products:
Core products		1,564		397			—			1,961
Total revenue	$	11,767	$	2,774		$	(284	)	$	14,257

Timing of revenue recognition:
Services transferred over time	$	10,203	$	2,377		$	(284	)	$	12,296
Products transferred over time⁽¹⁾		232		15			—			247
Products transferred at a point in time		1,332		382			—			1,714
Total revenue	$	11,767	$	2,774		$	(284	)	$	14,257

Markets:
Exhibitions	$	4,890	$	2,323		$	—		$	7,213
Conferences		1,099		367			—			1,466
Corporate events		4,537		67			—			4,604
Consumer events		1,241		17			—			1,258
Intersegment eliminations		—		—			(284	)		(284	)
Total revenue	$	11,767	$	2,774		$	(284	)	$	14,257

⁽¹⁾	GES’ graphics product revenue is earned over time over the duration of the event as it is considered a part of the single performance obligation satisfied over time.

	Nine Months Ended September 30, 2020
(in thousands)	GES North America		GES EMEA		Intersegment Eliminations			Total
Services:
Core services	$	225,414	$	33,350	$	—		$	258,764
Audio-visual		18,661		3,549		—			22,210
Event technology		7,946		4,126		—			12,072
Intersegment eliminations		—		—		(3,258	)		(3,258	)
Total services		252,021		41,025		(3,258	)		289,788
Products:
Core products		21,402		11,071		—			32,473
Total revenue	$	273,423	$	52,096	$	(3,258	)	$	322,261

Timing of revenue recognition:
Services transferred over time	$	252,021	$	41,025	$	(3,258	)	$	289,788
Products transferred over time⁽¹⁾		11,035		2,407		—			13,442
Products transferred at a point in time		10,367		8,664		—			19,031
Total revenue	$	273,423	$	52,096	$	(3,258	)	$	322,261

Markets:
Exhibitions	$	203,671	$	39,001	$	—		$	242,672
Conferences		39,626		7,618		—			47,244
Corporate events		24,012		5,308		—			29,320
Consumer events		6,114		169		—			6,283
Intersegment eliminations		—		—		(3,258	)		(3,258	)
Total revenue	$	273,423	$	52,096	$	(3,258	)	$	322,261

⁽¹⁾	GES’ graphics product revenue is earned over time over the duration of the event as it is considered a part of the single performance obligation satisfied over time.

	Three Months Ended September 30, 2019
(in thousands)	GES North America		GES EMEA		Intersegment Eliminations			Total
Services:
Core services	$	148,722	$	20,539	$	—		$	169,261
Audio-visual		18,742		4,402		—			23,144
Event technology		4,760		1,414		—			6,174
Intersegment eliminations		—		—		(5,724	)		(5,724	)
Total services		172,224		26,355		(5,724	)		192,855
Products:
Core products		12,900		12,945		—			25,845
Total revenue	$	185,124	$	39,300	$	(5,724	)	$	218,700

Timing of revenue recognition:
Services transferred over time	$	172,224	$	26,355	$	(5,724	)	$	192,855
Products transferred over time⁽¹⁾		10,558		2,305		—			12,863
Products transferred at a point in time		2,342		10,640		—			12,982
Total revenue	$	185,124	$	39,300	$	(5,724	)	$	218,700

Markets:
Exhibitions	$	79,589	$	29,140	$	—		$	108,729
Conferences		60,537		4,938		—			65,475
Corporate events		39,370		5,020		—			44,390
Consumer events		5,628		202		—			5,830
Intersegment eliminations		—		—		(5,724	)		(5,724	)
Total revenue	$	185,124	$	39,300	$	(5,724	)	$	218,700

⁽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.}

	Nine Months Ended September 30, 2019
(in thousands)	GES North America		GES EMEA		Intersegment Eliminations			Total
Services:
Core services	$	531,485	$	86,715	$	—		$	618,200
Audio-visual		61,323		15,171		—			76,494
Event technology		23,368		6,501		—			29,869
Intersegment eliminations		—		—		(14,731	)		(14,731	)
Total services		616,176		108,387		(14,731	)		709,832
Products:
Core products		50,649		48,086		—			98,735
Total revenue	$	666,825	$	156,473	$	(14,731	)	$	808,567

Timing of revenue recognition:
Services transferred over time	$	616,176	$	108,387	$	(14,731	)	$	709,832
Products transferred over time⁽¹⁾		33,601		10,595		—			44,196
Products transferred at a point in time		17,048		37,491		—			54,539
Total revenue	$	666,825	$	156,473	$	(14,731	)	$	808,567

Markets:
Exhibitions	$	349,106	$	119,189	$	—		$	468,295
Conferences		195,635		17,170		—			212,805
Corporate events		102,525		19,165		—			121,690
Consumer events		19,559		949		—			20,508
Intersegment eliminations		—		—		(14,731	)		(14,731	)
Total revenue	$	666,825	$	156,473	$	(14,731	)	$	808,567

⁽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.}

Pursuit

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
(in thousands)	2020			2019			2020			2019
Services:
Admissions	$	12,229		$	49,353		$	17,865		$	76,034
Accommodations		18,021			41,292			23,994			56,636
Transportation		445			6,868			2,513			12,817
Travel planning		855			2,004			1,484			4,107
Intersegment eliminations		(144	)		(671	)		(261	)		(1,355	)
Total services revenue		31,406			98,846			45,595			148,239
Products:
Food and beverage		6,783			19,333			9,047			28,903
Retail operations		10,626			16,864			12,960			23,977
Total products revenue		17,409			36,197			22,007			52,880
Total revenue	$	48,815		$	135,043		$	67,602		$	201,119

Timing of revenue recognition:
Services transferred over time	$	31,406		$	98,846		$	45,595		$	148,239
Products transferred at a point in time		17,409			36,197			22,007			52,880
Total revenue	$	48,815		$	135,043		$	67,602		$	201,119

Markets:
Banff Jasper Collection	$	26,395		$	75,337		$	39,234		$	116,433
Alaska Collection		5,436			26,909			6,167			39,287
Glacier Park Collection		14,929			28,098			16,813			36,296
FlyOver		2,055			4,699			5,388			9,103
Total revenue	$	48,815		$	135,043		$	67,602		$	201,119

Share-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2020

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Summary of Share-Based Compensation (income) expense

The following table summarizes share-based compensation (income) expense:

	Three Months Ended					Nine Months Ended
	September 30,					September 30,
(in thousands)	2020		2019			2020			2019
Performance unit incentive plan (“PUP”)	$	149	$	1,033		$	(2,596	)	$	4,013
Restricted stock awards and restricted stock units		1,698		798			3,155			2,435
Stock options		90		—			90			—
Share-based compensation expense before income tax		1,937		1,831			649			6,448
Income tax benefit⁽¹⁾		—		(460	)		—			(1,625	)
Share-based compensation expense, net of income tax	$	1,937	$	1,371		$	649		$	4,823

⁽¹⁾	^{There was no income tax benefit for the three and nine months ended September 30, 2020 due to the valuation allowance on our deferred tax assets. Refer to Note 16 – Income Taxes.}

Summary of Activity of the Outstanding PUP Awards

The following table summarizes the activity of the outstanding PUP awards:

	Equity-Based PUP Awards				Liability-Based PUP Awards
	Shares		Weighted-Average Grant Date Fair Value		Shares			Weighted-Average Grant Date Fair Value
Balance at December 31, 2019		59,714	$	52.10		155,190		$	52.53
Granted		32,367	$	56.23		52,531		$	56.10
Vested		—	$	—		(67,866	)	$	47.43
Forfeited		—	$	—		(18,370	)	$	56.40
Balance at September 30, 2020		92,081	$	55.49		121,485		$	55.08

Summary of Stock Option Activity

The following table summarizes stock option activity:

	Shares			Weighted-Average Exercise Price		Aggregate Intrinsic Value⁽¹⁾
Options outstanding and exercisable at December 31, 2019		41,143		$	16.62
Granted		204,150		$	19.98
Exercised		(41,143	)	$	16.62
Options outstanding at September 30, 2020		204,150		$	19.98	$	229,500
Options exercisable at September 30, 2020		—		$	—	$	—

Summary of Options Outstanding and Exercisable

The following table summarizes stock options outstanding and exercisable as of September 30, 2020:

		Options Outstanding						Options Exercisable
Range of exercise prices		Shares		Weighted-Average Remaining Contractual Life (in years)		Weighted-Average Exercise Price		Shares		Weighted-Average Exercise Price
$	19.30		150,000		8.25	$	19.30		—	$	—
$	21.85		54,150		6.91	$	21.85		—	$	—
$19.30 - $21.85			204,150		7.89	$	19.98		—	$	—

Assumptions Used in the Black-Scholes Option Pricing Model to Estimate the Fair Value of Each Stock Option Grant

The fair value of stock options granted in 2020 was estimated on the date of grant using the Black-Scholes option pricing model. Following is additional information on stock options and the underlying assumptions used in assessing fair value:

	Nine Months Ended
	September 30, 2020
Assumptions used to estimate fair value of stock options granted:
Risk-free interest rate	0.27% - 0.31%
Expected life	4.3 - 5.4 years
Expected volatility	46.9% - 52.2%
Expected dividend yield		—
Weighted average grant-date fair value per share of options granted	$	8.38
Cash received from exercise of options (in thousands)	$	2,077

Acquisitions (Tables)

9 Months Ended

Sep. 30, 2020

Business Combinations [Abstract]

Schedule of Proforma Results of Operations

The following table summarizes the unaudited pro forma results of operations attributable to Viad, assuming the completion of the Mountain Park Lodges acquisition was on January 1, 2019. We do not consider the Sky Lagoon attraction or the Belton Chalet significant acquisitions and accordingly, they are not included in the following pro forma results of operations:

	Three Months Ended		Nine Months Ended
(in thousands, except per share data)	September 30, 2019		September 30, 2019
Revenue	$	362,488	$	1,058,622
Depreciation and amortization	$	16,347	$	46,695
Income from continuing operations	$	34,607	$	28,709
Net income attributable to Viad	$	31,416	$	26,765
Diluted income per share	$	1.53	$	1.29
Basic income per share	$	1.53	$	1.29

Inventories (Tables)

9 Months Ended

Sep. 30, 2020

Inventory Disclosure [Abstract]

Components of Inventories

The components of inventories consisted of the following:

	September 30,		December 31,
(in thousands)	2020		2019
Raw materials	$	10,796	$	11,788
Finished goods		5,500		5,481
Inventories	$	16,296	$	17,269

Other Current Assets (Tables)

9 Months Ended

Sep. 30, 2020

Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract]

Schedule of Other Current Assets

Other current assets consisted of the following:

	September 30,		December 31,
(in thousands)	2020		2019
Prepaid software maintenance	$	4,045	$	3,875
Prepaid insurance		2,565		5,573
Prepaid vendor payments		2,106		4,698
Prepaid taxes		1,087		917
Income tax receivable		162		13,250
Prepaid other		2,097		1,904
Other		4,134		637
Other current assets	$	16,196	$	30,854

Property and Equipment (Tables)

9 Months Ended

Sep. 30, 2020

Property Plant And Equipment [Abstract]

Schedule of Property and Equipment

Property and equipment consisted of the following:

	September 30,			December 31,
(in thousands)	2020			2019
Land and land interests	$	32,481		$	34,532
Buildings and leasehold improvements		374,549			377,754
Equipment and other		400,085			417,239
Gross property and equipment		807,115			829,525
Accumulated depreciation		(352,456	)		(353,974	)
Property and equipment, net (excluding finance leases)		454,659			475,551
Finance lease right-of-use assets, net		22,786			25,350
Property and equipment, net	$	477,445		$	500,901

Other Investments and Assets (Tables)

9 Months Ended

Sep. 30, 2020

Investments All Other Investments [Abstract]

Summary of Other Investments and Assets

Other investments and assets consisted of the following:

	September 30,		December 31,
(in thousands)	2020		2019
Self-insured liability receivable	$	9,982	$	9,982
Contract costs		4,464		3,961
Other mutual funds		3,136		3,107
Cash surrender value of life insurance		—		24,873
Other		2,355		3,196
Other investments and assets	$	19,937	$	45,119

Goodwill and Other Intangible Assets (Tables)

9 Months Ended

Sep. 30, 2020

Goodwill And Intangible Assets Disclosure [Abstract]

Summary of the Goodwill Balances by Component and Segment

The changes in the carrying amount of goodwill are as follows:

(in thousands)	GES North America			GES EMEA			Pursuit			Total
Balance at December 31, 2019	$	155,276		$	30,829		$	101,878		$	287,983
Goodwill impairment		(155,276	)		(29,042	)		(1,757	)		(186,075	)
Foreign currency translation adjustments		—			(1,787	)		(3,190	)		(4,977	)
Balance at September 30, 2020	$	—		$	—		$	96,931		$	96,931

Summary of Other Intangible Assets

Other intangible assets consisted of the following:

		September 30, 2020							December 31, 2019
(in thousands)	Useful Life (Years)	Gross Carrying Value		Accumulated Amortization			Net Carrying Value		Gross Carrying Value		Accumulated Amortization			Net Carrying Value
Intangible assets subject to amortization:
Customer contracts and relationships	6.4	$	40,006	$	(27,381	)	$	12,625	$	72,219	$	(40,866	)	$	31,353
Operating contracts and licenses	36.8		39,156		(2,258	)		36,898		43,329		(1,881	)		41,448
In-place lease	13.8		14,670		(532	)		14,138		15,044		(231	)		14,813
Tradenames	5.5		5,687		(2,155	)		3,532		9,423		(4,338	)		5,085
Non-compete agreements	1.3		736		(552	)		184		2,077		(1,775	)		302
Other	7.4		783		(90	)		693		802		(66	)		736
Total amortized intangible assets			101,038		(32,968	)		68,070		142,894		(49,157	)		93,737
Indefinite-lived intangible assets:
Business licenses			568		—			568		571		—			571
Other intangible assets		$	101,606	$	(32,968	)	$	68,638	$	143,465	$	(49,157	)	$	94,308

Estimated Future Amortization Expense Related to Intangible Assets Subject to Amortization

At September 30, 2020, the estimated future amortization expense related to intangible assets subject to amortization is as follows:

(in thousands)
Year ending December 31,
Remainder of 2020	$	1,278
2021		5,089
2022		4,968
2023		4,322
2024		3,383
Thereafter		49,030
Total	$	68,070

Other Current Liabilities (Tables)

9 Months Ended

Sep. 30, 2020

Other Liabilities Current [Abstract]

Other Current Liabilities

Other current liabilities consisted of the following:

	September 30,		December 31,
(in thousands)	2020		2019
Continuing operations:
Self-insured liability	$	6,227	$	5,668
Accrued restructuring		4,574		2,130
Accrued sales and use taxes		2,914		5,451
Commissions payable		2,541		8,274
Accrued employee benefit costs		2,108		3,564
Current portion of pension and postretirement liabilities		1,722		1,899
Accrued professional fees		1,137		1,248
Accrued legal settlement		—		2,500
Accrued dividends		—		2,019
Other taxes		1,655		278
Accommodation services deposits		506		959
Other		6,204		5,187
Total continuing operations		29,588		39,177
Discontinued operations:
Self-insured liability		422		260
Environmental remediation liabilities		60		311
Other		57		76
Total discontinued operations		539		647
Total other current liabilities	$	30,127	$	39,824

Other Deferred Items and Liabilities (Tables)

9 Months Ended

Sep. 30, 2020

Other Liabilities Disclosure [Abstract]

Summary of Other Deferred Items and Liabilities

Other deferred items and liabilities consisted of the following:

	September 30,		December 31,
(in thousands)	2020		2019
Continuing operations:
Foreign deferred tax liability	$	25,127	$	32,570
Multi-employer pension plan withdrawal liability		15,970		15,693
Self-insured excess liability		9,982		9,982
Self-insured liability		8,046		8,682
Accrued compensation		4,806		7,485
Accrued restructuring		2,447		2,383
Contract liabilities		623		125
Other		3,487		2,423
Total continuing operations		70,488		79,343
Discontinued operations:
Environmental remediation liabilities		2,186		1,964
Self-insured liability		1,824		2,018
Other		676		382
Total discontinued operations		4,686		4,364
Total other deferred items and liabilities	$	75,174	$	83,707

Debt and Finance Lease Obligations (Tables)

9 Months Ended

Sep. 30, 2020

Debt Disclosure [Abstract]

Schedule of Long-term Debt and Finance Lease Obligations

The components of long-term debt and finance lease obligations consisted of the following:

	September 30,			December 31,
(in thousands, except interest rates)	2020			2019
2018 Credit Facility, 4.6% weighted-average interest rate at September 30, 2020 and 3.9% at December 31, 2019, due through 2023⁽¹⁾	$	230,543		$	311,464
FlyOver Iceland Credit Facility, 4.9% weighted-average interest rate at September 30, 2020 and December 31, 2019, due through 2022⁽¹⁾		5,584			5,607
Less unamortized debt issuance costs		(2,953	)		(1,836	)
Total debt ⁽²⁾		233,174			315,235
Finance lease obligations, 7.9% weighted-average interest rate at September 30, 2020 and 7.7% at December 31, 2019, due through 2039		23,018			25,257
Total debt and finance lease obligations ⁽³⁾		256,192			340,492
Current portion ⁽⁴⁾		(4,040	)		(5,330	)
Long-term debt and finance lease obligations	$	252,152		$	335,162

⁽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 $222.0 million as of September 30, 2020 and $339.4 million as of December 31, 2019. 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 $12.1 million for the nine months ended September 30, 2020 and $8.8 million for the nine months ended September 30, 2019.

⁽⁴⁾

Subsequent to the filing of our 2019 Form 10-K, we identified a correction related to the classification of the 2018 Credit Facility (as defined below) from current to long-term given that the 2018 Credit Facility’s contractual maturity was not within 12 months of the balance sheet date, and we were in compliance with all applicable covenants as of December 31, 2019. As a result, we corrected the classification of the debt on the accompanying condensed consolidated balance sheet and the disclosure related to classification of debt in the table above as of December 31, 2019 to present the 2018 Credit Facility as long-term. Except for this change, the correction had no impact upon this Quarterly Report on Form 10-Q. We determined that the error is not material to the previously issued financial statements.

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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Summary of Fair Value Assets Measured on Recurring Basis

Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2020

Fair Value Disclosures [Abstract]

The fair value information related to these assets is summarized in the following tables:

			Fair Value Measurements at Reporting Date Using
(in thousands)	September 30, 2020		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Money market funds ⁽¹⁾	$	2	$	2	$	—	$	—
Other mutual funds ⁽²⁾		3,136		3,136		—		—
Total assets at fair value on a recurring basis	$	3,138	$	3,138	$	—	$	—

			Fair Value Measurements at Reporting Date Using
(in thousands)	December 31, 2019		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Money market funds ⁽¹⁾	$	123	$	123	$	—	$	—
Other mutual funds ⁽²⁾		3,107		3,107		—		—
Total assets at fair value on a recurring basis	$	3,230	$	3,230	$	—	$	—

⁽¹⁾

^{We include money market funds in “Cash and cash equivalents” in the Condensed Consolidated Balance Sheets. We classify these investments as available-for-sale and record them at fair value. There have been no realized gains or losses related to these investments and we have not experienced any redemption restrictions with respect to any of the money market mutual funds.}

⁽²⁾	We include other mutual funds in “Other investments and assets” in the Condensed Consolidated Balance Sheets.

Accumulated Other Comprehensive Income (Loss) (Tables)

9 Months Ended

Sep. 30, 2020

Equity [Abstract]

Schedule of Accumulated Other Comprehensive Income (Loss)

Changes in accumulated other comprehensive income (“AOCI”) by component are as follows:

(in thousands)	Cumulative Foreign Currency Translation Adjustments			Unrecognized Net Actuarial Loss and Prior Service Credit, Net			Accumulated Other Comprehensive Income (Loss)
Balance at December 31, 2019	$	(23,799	)	$	(11,900	)	$	(35,699	)
Other comprehensive loss before reclassifications		(7,342	)		—			(7,342	)
Amounts reclassified from AOCI, net of tax		—			354			354
Net other comprehensive income (loss)		(7,342	)		354			(6,988	)
Balance at September 30, 2020	$	(31,141	)	$	(11,546	)	$	(42,687	)

(in thousands)	Cumulative Foreign Currency Translation Adjustments			Unrecognized Net Actuarial Loss and Prior Service Credit, Net			Accumulated Other Comprehensive Income (Loss)
Balance at December 31, 2018	$	(36,332	)	$	(11,643	)	$	(47,975	)
Other comprehensive income before reclassifications		3,868			—			3,868
Amounts reclassified from AOCI, net of tax		—			196			196
Net other comprehensive income		3,868			196			4,064
Balance at September 30, 2019	$	(32,464	)	$	(11,447	)	$	(43,911	)

Income (Loss) Per Share (Tables)

9 Months Ended

Sep. 30, 2020

Earnings Per Share [Abstract]

Reconciliation of Basic and Diluted Income Per Share

The components of basic and diluted income per share are as follows:

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
(in thousands, except per share data)	2020			2019			2020			2019
Net income (loss) attributable to Viad (diluted)	$	(30,758	)	$	31,416		$	(323,621	)	$	27,463
Less: Allocation to non-vested shares		—			(226	)		—			(196	)
Convertible preferred stock dividends		(1,134	)		—			(1,134	)		—
Adjustment to the redemption value of redeemable noncontrolling interest		(468	)		(264	)		(926	)		(530	)
Net income (loss) allocated to Viad common stockholders (basic)	$	(32,360	)	$	30,926		$	(325,681	)	$	26,737
Basic weighted-average outstanding common shares		20,293			20,168			20,263			20,129
Additional dilutive shares related to share-based compensation		—			143			—			138
Diluted weighted-average outstanding shares		20,293			20,311			20,263			20,267
Income (loss) per share:
Basic income (loss) attributable to Viad common stockholders	$	(1.59	)	$	1.53		$	(16.07	)	$	1.33
Diluted income (loss) attributable to Viad common stockholders⁽¹⁾	$	(1.59	)	$	1.53		$	(16.07	)	$	1.33

⁽¹⁾	^{Diluted loss per share amount cannot exceed basic loss per share.}

Pension and Postretirement Benefits (Tables)

9 Months Ended

Sep. 30, 2020

Compensation And Retirement Disclosure [Abstract]

Components of Net Periodic Benefit Cost of Pension and Postretirement Benefit Plans

The components of net periodic benefit cost of our pension and postretirement benefit plans for the three months ended September 30, 2020 and 2019 consist of the following:

	Domestic Plans
	Pension Plans						Postretirement Benefit Plans						Foreign Pension Plans
(in thousands)	2020			2019			2020			2019			2020			2019
Service cost	$	—		$	15		$	7		$	13		$	112		$	101
Interest cost		162			209			64			93			87			92
Expected return on plan assets		(74	)		(35	)		—			—			(134	)		(122	)
Amortization of prior service credit		—			—			(36	)		(47	)		—			—
Recognized net actuarial loss		130			96			(26	)		(43	)		48			37
Net periodic benefit cost	$	218		$	285		$	9		$	16		$	113		$	108

The components of net periodic benefit cost of our pension and postretirement benefit plans for the nine months ended September 30, 2020 and 2019 consist of the following:

	Domestic Plans
	Pension Plans						Postretirement Benefit Plans						Foreign Pension Plans
(in thousands)	2020			2019			2020			2019			2020			2019
Service cost	$	—		$	46		$	38		$	48		$	330		$	303
Interest cost		490			646			222			343			254			281
Expected return on plan assets		(109	)		(74	)		—			—			(394	)		(364	)
Amortization of prior service credit		—			—			(109	)		(141	)		—			—
Recognized net actuarial loss		395			302			13			84			138			111
Net periodic benefit cost	$	776		$	920		$	164		$	334		$	328		$	331

Restructuring Charges (Tables)

9 Months Ended

Sep. 30, 2020

Restructuring And Related Activities [Abstract]

Changes to Restructuring Liability by Major Restructuring Activity

Changes to the restructuring liability by major restructuring activity are as follows:

	GES						Other Restructurings
(in thousands)	Severance & Employee Benefits			Facilities			Severance & Employee Benefits			Total
Balance at December 31, 2019	$	2,935		$	1,339		$	239		$	4,513
Restructuring charges		5,332			6,039			999			12,370
Cash payments		(3,261	)		(197	)		(569	)		(4,027	)
Non-cash items⁽¹⁾		—			(5,152	)		—			(5,152	)
Adjustment to liability		(54	)		(17	)		(612	)		(683	)
Balance at September 30, 2020	$	4,952		$	2,012		$	57		$	7,021

(1)	Represents the FX impact related to the closure and liquidation of GES’ United Kingdom-based audio-visual services business during the three months ended September 30, 2020.

Leases and Other (Tables)

9 Months Ended

Sep. 30, 2020

Leases [Abstract]

Summary of Balance Sheet Presentation of Operating and Finance Leases

The balance sheet presentation of our operating and finance leases is as follows:

		September 30,		December 31,
(in thousands)	Classification on the Condensed Consolidated Balance Sheet	2020		2019
Assets:
Operating lease assets	Operating lease right-of-use assets	$	88,394	$	103,314
Finance lease assets	Property and equipment, net		22,786		25,350
Total lease assets		$	111,180	$	128,664

Liabilities:
Current:
Operating lease obligations	Operating lease obligations	$	17,872	$	22,180
Finance lease obligations	Current portion of debt and finance lease obligations		2,895		3,386
Noncurrent:
Operating lease obligations	Long-term operating lease obligations		73,688		82,851
Finance lease obligations	Long-term debt and finance lease obligations		20,123		21,871
Total lease liabilities		$	114,578	$	130,288

Components of Lease Expense

The components of lease expense consisted of the following:

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(in thousands)	2020		2019		2020		2019
Finance lease cost:
Amortization of right-of-use assets	$	926	$	697	$	2,767	$	1,895
Interest on lease liabilities		429		130		1,258		379
Operating lease cost		6,596		6,625		20,235		19,456
Short-term lease cost		123		571		465		1,348
Variable lease cost		1,557		1,478		4,615		4,695
Sublease income⁽¹⁾		—		226		—		—
Total lease cost, net	$	9,631	$	9,727	$	29,340	$	27,773

⁽¹⁾ Sublease income excludes rental income from owned assets, which is recorded in revenue.

Schedule of Other Information Related to Operating and Finance Leases

Other information related to operating and finance leases are as follows:

	Three Months Ended					Nine Months Ended
	September 30,					September 30,
(in thousands)	2020			2019		2020			2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	5,644		$	7,250	$	18,268		$	20,853
Operating cash flows from finance leases	$	839		$	210	$	1,705		$	459
Financing cash flows from finance leases	$	665		$	525	$	2,235		$	1,537
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	(3,059	)	$	49,123	$	1,018		$	62,375
Finance leases	$	126		$	14,893	$	1,894		$	35,844

						September 30,			December 31,
						2020			2019
Weighted-average remaining lease term (years):
Operating leases							8.30			8.17
Finance leases							13.58			14.01
Weighted-average discount rate:
Operating leases							5.89	%		5.77	%
Finance leases							7.91	%		7.73	%

Schedule of Estimated Future Minimum Lease Payments Under Non-cancellable Leases Excluding Variable Leases and Variable Non-lease Components

As of September 30, 2020, the estimated future minimum lease payments under non-cancellable leases, excluding variable leases and variable non-lease components, are as follows:

(in thousands)	Operating Leases			Finance Leases			Total
Remainder of 2020	$	6,188		$	1,458		$	7,646
2021		20,043			4,284			24,327
2022		15,844			3,796			19,640
2023		13,407			3,276			16,683
2024		10,265			2,609			12,874
Thereafter		54,410			23,556			77,966
Total future lease payments		120,157			38,979			159,136
Less: Amount representing interest		(28,597	)		(15,961	)		(44,558	)
Present value of minimum lease payments		91,560			23,018			114,578
Current portion		17,872			2,895			20,767
Long-term portion	$	73,688		$	20,123		$	93,811

Schedule of Estimated Future Minimum Rentals Under Non-cancellable Leases

As of September 30, 2020, the estimated future minimum rentals under non-cancellable leases, which includes rental income from facilities that we own, are as follows:

(in thousands)
Remainder of 2020	$	431
2021		1,499
2022		1,046
2023		830
2024		612
Thereafter		1,765
Total minimum rents	$	6,183

Redeemable Noncontrolling Interest (Tables)

9 Months Ended

Sep. 30, 2020

Noncontrolling Interest [Abstract]

Summary of Changes in Redeemable Noncontrolling Interest

Changes in the redeemable noncontrolling interest are as follows:

(in thousands)
Balance at December 31, 2019	$	6,172
Net loss attributable to redeemable noncontrolling interest		(1,023	)
Adjustment to the redemption value		926
Foreign currency translation adjustment		(804	)
Balance at September 30, 2020	$	5,271

Segment Information (Tables)

9 Months Ended

Sep. 30, 2020

Segment Reporting [Abstract]

Reconciliation of income statement items from reportable segments

Our reportable segments, with reconciliations to consolidated totals, are as follows:

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
(in thousands)	2020			2019			2020			2019
Revenue:
GES:
GES North America	$	11,767		$	185,124		$	273,423		$	666,825
GES EMEA		2,774			39,300			52,096			156,473
Intersegment eliminations		(284	)		(5,724	)		(3,258	)		(14,731	)
Total GES		14,257			218,700			322,261			808,567
Pursuit		48,815			135,043			67,602			201,119
Total revenue	$	63,072		$	353,743		$	389,863		$	1,009,686
Segment operating income (loss):
GES:
GES North America	$	(10,986	)	$	(8,562	)	$	(28,194	)	$	22,635
GES EMEA		(7,262	)		(3,024	)		(11,256	)		2,775
Total GES		(18,248	)		(11,586	)		(39,450	)		25,410
Pursuit		11,467			66,392			(26,499	)		64,710
Segment operating income (loss)		(6,781	)		54,806			(65,949	)		90,120
Corporate eliminations ⁽¹⁾		16			16			48			49
Corporate activities		(2,645	)		(2,680	)		(5,902	)		(7,795	)
Operating income (loss)		(9,410	)		52,142			(71,803	)		82,374
Interest income		58			79			313			260
Interest expense		(5,508	)		(3,740	)		(14,712	)		(9,612	)
Multi-employer pension plan withdrawal		—			—			(462	)		(15,508	)
Other expense		(210	)		(281	)		(894	)		(1,192	)
Restructuring recoveries (charges):
GES North America		(2,310	)		(881	)		(2,277	)		(5,139	)
GES EMEA		(8,376	)		(759	)		(9,094	)		(1,501	)
Pursuit		12			—			(45	)		—
Corporate		(585	)		(62	)		(954	)		(205	)
Impairment charges:
GES North America		—			—			(171,094	)		—
GES EMEA		(676	)		—			(30,225	)		—
Pursuit		—			—			(1,757	)		—
Legal settlement:
GES		—			—			—			(8,500	)
Income (loss) from continuing operations before income taxes	$	(27,005	)	$	46,498		$	(303,004	)	$	40,977

⁽¹⁾	^{Corporate eliminations represent the elimination of depreciation expense recorded by Pursuit associated with previously eliminated intercompany profit realized by GES for renovations to Pursuit’s Banff Gondola.}

Overview and Basis of Presentation - Narrative (Details) $ / shares in Units, $ in Thousands		3 Months Ended	6 Months Ended	9 Months Ended
	Aug. 05, 2020 USD ($) $ / shares	Jun. 30, 2020 USD ($)	Jun. 30, 2020 USD ($)	Sep. 30, 2020 USD ($) Segment	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)
Overview And Summary Of Significant Accounting Policies [Line Items]
Number of reportable segments \| Segment				3
Initial Investment	$ 135,000
Fees	$ 9,200
Cash Dividends Payable Percentage	5.50%
Frequency of periodic payment of cumulative dividend	quarterly
Conversion price per share \| $ / shares	$ 21.25
Preferred stock redemption term	additional Convertible Preferred Stock, which we may access during the 12 months
Minimum liquidity requirement	$ 125,000
Fees related to the amendment	$ 1,700
Pledge percentage of capital stock	100.00%
Non-cash goodwill impairment charge				$ 186,075
Goodwill				$ 96,931		$ 287,983
Percentage of non equity ownership related redeemable noncontrolling interests				54.50%
Glacier Park Inc
Overview And Summary Of Significant Accounting Policies [Line Items]
Percentage of non-equity ownership related to non-redeemable noncontrolling interests				20.00%
Mountain Park Lodges
Overview And Summary Of Significant Accounting Policies [Line Items]
Percentage of non-equity ownership related to non-redeemable noncontrolling interests				40.00%
Geothermal Lagoon Attraction
Overview And Summary Of Significant Accounting Policies [Line Items]
Percentage of non-equity ownership related to non-redeemable noncontrolling interests				49.00%
GES
Overview And Summary Of Significant Accounting Policies [Line Items]
Non-cash goodwill impairment charge		$ 113,100	$ 186,100
Goodwill				$ 96,900
Pursuit
Overview And Summary Of Significant Accounting Policies [Line Items]
Non-cash goodwill impairment charge				1,757
Goodwill				$ 96,931		$ 101,878
Scenario Forecast
Overview And Summary Of Significant Accounting Policies [Line Items]
Minimum liquidity requirement					$ 100,000
LIBOR rate [Member]
Overview And Summary Of Significant Accounting Policies [Line Items]
Variable rate	3.50%
Maximum
Overview And Summary Of Significant Accounting Policies [Line Items]
Proceeds from issuance of additional preferred stock	$ 45,000
Lease expiration period				23 years
Maximum \| Land
Overview And Summary Of Significant Accounting Policies [Line Items]
Lease expiration period				47 years

Overview and Basis of Presentation - Schedule of Corrections to Prior Period Adjustments (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Total revenue	$ 63,072	$ 353,743	$ 389,863	$ 1,009,686
Services
Total revenue	43,702	291,701	335,383	858,071
Costs and expenses	51,730	247,551	395,432	785,131
GES
Total revenue	$ 14,257	218,700	$ 322,261	808,567
Previously Reported \| Services
Total revenue		300,446		898,746
Costs and expenses		256,296		825,806
Revision Of Prior Period Error Correction Adjustment \| GES \| Services \| North America
Total revenue		(6,859)		(32,081)
Costs and expenses		(6,859)		(32,081)
Revision Of Prior Period Error Correction Adjustment \| GES \| Services \| EMEA
Total revenue		(1,886)		(8,594)
Costs and expenses		$ (1,886)		$ (8,594)

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

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Revenue and Related Contract Costs and Contract Liabilities - Narrative (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Disaggregation Of Revenue [Line Items]
Revenue recognition description of capitalized contract costs			Capitalized contract costs are expensed upon the transfer of the related goods or services and are included in cost of services or cost of products, as applicable
Capitalized contract costs to obtain contracts	$ 1,200,000		$ 1,200,000
Capitalized contract costs to fulfill contracts	10,900,000		10,900,000
Impairment loss on capitalized contract costs	$ 0	$ 0	$ 0	$ 0
GES
Disaggregation Of Revenue [Line Items]
Performance obligation description of payment terms			Payment terms are generally within 30-60 days and contain no significant financing components
GES \| Minimum [Member]
Disaggregation Of Revenue [Line Items]
Performance obligation payment terms			30 days
GES \| Maximum
Disaggregation Of Revenue [Line Items]
Performance obligation payment terms			60 days
Pursuit
Disaggregation Of Revenue [Line Items]
Performance obligation description of payment terms			When we extend credit, payment terms are generally within 30 days and contain no significant financing components
Performance obligation payment terms			30 days

Revenue and Related Contract Costs and Contract Liabilities - Summary of Changes in Contract Liabilities (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2020 USD ($)
Revenue From Contract With Customer [Abstract]
Balance at December 31, 2019	$ 50,796
Cash additions	130,018
Revenue recognized	(162,954)
Foreign exchange translation adjustment	(84)
Balance at September 30, 2020	$ 17,776

Revenue and Related Contract Costs and Contract Liabilities - Summary of Changes in Contract Costs (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2020 USD ($)
Revenue From Contract With Customer [Abstract]
Balance at December 31, 2019	$ 28,496
Additions	16,710
Expenses	(22,774)
Cancelled	(9,840)
Foreign exchange translation adjustment	(479)
Balance at September 30, 2020	$ 12,113

Revenue and Related Contract Costs and Contract Liabilities - Disaggregate GES and Pursuit Revenue by Major Product Line Timing of Revenue Recognition and Markets Served (Details) - USD ($)
$ in Thousands

3 Months Ended

9 Months Ended

Sep. 30, 2020

Sep. 30, 2019

Sep. 30, 2020

Sep. 30, 2019

$ 63,072

$ 353,743

$ 389,863

$ 1,009,686

GES

14,257

218,700

322,261

808,567

GES | Operating Segments

GES | Intersegment Eliminations

14,257

218,700

322,261

808,567

(284)

(5,724)

(3,258)

(14,731)

Pursuit

Pursuit | Operating Segments

48,815

135,043

67,602

201,119

Pursuit | Intersegment Eliminations

48,815

135,043

67,602

201,119

North America | GES | Operating Segments

(144)

(671)

(261)

(1,355)

EMEA | GES | Operating Segments

11,767

185,124

273,423

666,825

Services Transferred Over Time | GES

2,774

39,300

52,096

156,473

Services Transferred Over Time | GES | Intersegment Eliminations

12,296

192,855

289,788

709,832

Services Transferred Over Time | Pursuit

(284)

(5,724)

(3,258)

(14,731)

Services Transferred Over Time | North America | GES | Operating Segments

31,406

98,846

45,595

148,239

Services Transferred Over Time | EMEA | GES | Operating Segments

10,203

172,224

252,021

616,176

Products Transferred Over Time | GES

2,377

26,355

41,025

108,387

Products Transferred Over Time | North America | GES | Operating Segments

247

^[1]

12,863

^[2]

13,442

^[1]

44,196

^[2]

Products Transferred Over Time | EMEA | GES | Operating Segments

232

^[1]

10,558

^[2]

11,035

^[1]

33,601

^[2]

Products Transferred at a Point in Time | GES

15

^[1]

2,305

^[2]

2,407

^[1]

10,595

^[2]

Products Transferred at a Point in Time | Pursuit

1,714

12,982

19,031

54,539

Products Transferred at a Point in Time | North America | GES | Operating Segments

17,409

36,197

22,007

52,880

Products Transferred at a Point in Time | EMEA | GES | Operating Segments

1,332

2,342

10,367

17,048

382

10,640

8,664

37,491

Core Services | GES

Core Services | North America | GES | Operating Segments

9,990

169,261

258,764

618,200

Core Services | EMEA | GES | Operating Segments

7,987

148,722

225,414

531,485

2,003

20,539

33,350

86,715

Audio Visual | GES

Audio Visual | North America | GES | Operating Segments

893

23,144

22,210

76,494

Audio Visual | EMEA | GES | Operating Segments

933

18,742

18,661

61,323

(40)

4,402

3,549

15,171

Event Technology | GES

Event Technology | North America | GES | Operating Segments

1,697

6,174

12,072

29,869

Event Technology | EMEA | GES | Operating Segments

1,283

4,760

7,946

23,368

414

1,414

4,126

6,501

Total Services | GES

Total Services | GES | Intersegment Eliminations

12,296

192,855

289,788

709,832

(284)

(5,724)

(3,258)

(14,731)

Total Services | Pursuit

Total Services | North America | GES | Operating Segments

31,406

98,846

45,595

148,239

Total Services | EMEA | GES | Operating Segments

10,203

172,224

252,021

616,176

2,377

26,355

41,025

108,387

Core Products | GES

Core Products | North America | GES | Operating Segments

1,961

25,845

32,473

98,735

Core Products | EMEA | GES | Operating Segments

1,564

12,900

21,402

50,649

397

12,945

11,071

48,086

Exhibitions | GES

Exhibitions | North America | GES | Operating Segments

7,213

108,729

242,672

468,295

Exhibitions | EMEA | GES | Operating Segments

4,890

79,589

203,671

349,106

2,323

29,140

39,001

119,189

Conferences | GES

Conferences | North America | GES | Operating Segments

1,466

65,475

47,244

212,805

Conferences | EMEA | GES | Operating Segments

1,099

60,537

39,626

195,635

367

4,938

7,618

17,170

Corporate Events | GES

Corporate Events | North America | GES | Operating Segments

4,604

44,390

29,320

121,690

Corporate Events | EMEA | GES | Operating Segments

4,537

39,370

24,012

102,525

67

5,020

5,308

19,165

Consumer Events | GES

Consumer Events | North America | GES | Operating Segments

1,258

5,830

6,283

20,508

Consumer Events | EMEA | GES | Operating Segments

1,241

5,628

6,114

19,559

17

202

169

949

Accommodations | Pursuit

18,021

41,292

23,994

56,636

Admissions | Pursuit

12,229

49,353

17,865

76,034

Transportation | Pursuit

Travel Planning | Pursuit

445

6,868

2,513

12,817

Food and Beverage | Pursuit

855

2,004

1,484

4,107

Retail Operations | Pursuit

6,783

19,333

9,047

28,903

10,626

16,864

12,960

23,977

Products

19,370

62,042

54,480

151,615

Products | Pursuit

Banff Jasper Collection | Pursuit

17,409

36,197

22,007

52,880

Alaska Collection | Pursuit

26,395

75,337

39,234

116,433

Glacier Park Collection | Pursuit

5,436

26,909

6,167

39,287

14,929

28,098

16,813

36,296

FlyOver | Pursuit

$ 2,055

$ 4,699

$ 5,388

$ 9,103

[1]	GES’ graphics product revenue is earned over time over the duration of the event as it is considered a part of the single performance obligation satisfied over time.
[2]	^{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.}

Share-Based Compensation - Narrative (Details) - USD ($) $ in Thousands	9 Months Ended		12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Repurchase of common stock for employee tax withholding obligations amount	$ 1,062	$ 3,019
Recognition period of unrecognized cost	2 years 6 months
Requisite service period	3 years
Total unrecognized compensation cost related to non-vested stock option awards	$ 1,600
Granted	204,150		0
Minimum
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Share based compensation arrangement performance period	1 year 4 months 24 days
Maximum
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Share based compensation arrangement performance period	3 years 4 months 24 days
2017 Plan
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Useful Term of the plan	10 years
Common stock shares issuable	1,750,000
Shares available for grant	1,077,197
2007 Plan
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Award vesting period	3 years
2007 Plan \| Performance Unit Incentive Plan ("PUP")
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Shares available for grant	0
Awards with grant date fair value during the period	$ 4,800
Stock value payable	1,800
Liability awards recorded	400		$ 5,300
Payments to employees	2,600		5,600
Paid to employees as shares			$ 3,400
Repurchase of common stock for employee tax withholding obligations amount, shares			25,771
Repurchase of common stock for employee tax withholding obligations amount			$ 1,500
2007 Plan \| Restricted Stock Awards And Restricted Stock Units
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Payments to employees	200	300
Paid to employees as shares	$ 800	$ 200
Repurchase of common stock for employee tax withholding obligations amount, shares	17,961	24,586
Repurchase of common stock for employee tax withholding obligations amount	$ 1,100	$ 1,400
Unamortized cost	$ 2,600
Recognition period of unrecognized cost	1 year 2 months 12 days
Liabilities related to restricted stock	$ 800		$ 400

Share-Based Compensation - Summary of Share-Based Compensation (income) expense (Details) - USD ($)
$ in Thousands

3 Months Ended

9 Months Ended

Sep. 30, 2020

Sep. 30, 2019

Sep. 30, 2020

Sep. 30, 2019

Share-based compensation expense, net of income tax

$ 1,937

$ 1,831

$ 649

$ 6,448

Income tax benefit

^[1]

(460)

(1,625)

1,937

1,371

649

4,823

Performance Unit Incentive Plan ("PUP")

Restricted Stock Awards And Restricted Stock Units

149

1,033

(2,596)

4,013

1,698

$ 798

3,155

$ 2,435

Stock Options

Options outstanding and exercisable Beginning Balance, Shares

$ 90

[1]	^{There was no income tax benefit for the three and nine months ended September 30, 2020 due to the valuation allowance on our deferred tax assets. Refer to Note 16 – Income Taxes.}

Share-Based Compensation - Summary of Activity of the Outstanding PUP Awards (Details) - Performance Unit Incentive Plan ("PUP")	9 Months Ended
	Sep. 30, 2020 $ / shares shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Beginning Balance, shares \| shares	59,714
Granted, shares \| shares	32,367
Ending Balance, shares \| shares	92,081
Beginning Balance, Weighted-Average Grant Date Fair Value \| $ / shares	$ 52.10
Granted, Weighted-Average Grant Date Fair Value \| $ / shares	56.23
Ending Balance, Weighted-Average Grant Date Fair Value \| $ / shares	$ 55.49
Beginning Balance, shares \| shares	155,190
Granted, shares \| shares	52,531
Vested, shares \| shares	(67,866)
Forfeited, shares \| shares	(18,370)
Ending Balance, shares \| shares	121,485
Beginning Balance, Weighted-Average Grant Date Fair Value \| $ / shares	$ 52.53
Granted, Weighted-Average Grant Date Fair Value \| $ / shares	56.10
Vested, Weighted-Average Grant Date Fair Value \| $ / shares	47.43
Forfeited, Weighted-Average Grant Date Fair Value \| $ / shares	56.40
Ending Balance, Weighted-Average Grant Date Fair Value \| $ / shares	$ 55.08

Share-Based Compensation - Summary of Activity of the Outstanding Restricted Stock Awards And Restricted Stock Units (Details)	9 Months Ended
	Sep. 30, 2020 $ / shares shares
Restricted Stock Awards
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Granted, shares \| shares	232,435
Vested, shares \| shares	(38,982)
Forfeited, shares \| shares	(2,183)
Ending Balance, shares \| shares	191,270
Granted, Weighted-Average Grant Date Fair Value \| $ / shares	$ 19.44
Vested, Weighted-Average Grant Date Fair Value \| $ / shares	19.30
Forfeited, Weighted-Average Grant Date Fair Value \| $ / shares	19.30
Ending Balance, Weighted-Average Grant Date Fair Value \| $ / shares	$ 19.47
Beginning Balance, shares \| shares	11,623
Granted, shares \| shares	3,952
Vested, shares \| shares	(2,815)
Forfeited, shares \| shares	(1,634)
Ending Balance, shares \| shares	11,126
Beginning Balance, Weighted-Average Grant Date Fair Value \| $ / shares	$ 52.17
Granted, Weighted-Average Grant Date Fair Value \| $ / shares	50.43
Vested, Weighted-Average Grant Date Fair Value \| $ / shares	47.45
Forfeited, Weighted-Average Grant Date Fair Value \| $ / shares	56.59
Ending Balance, Weighted-Average Grant Date Fair Value \| $ / shares	$ 52.10
Restricted Stock Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Beginning Balance, shares \| shares	136,123
Granted, shares \| shares	55,171
Vested, shares \| shares	(64,684)
Forfeited, shares \| shares	(15,192)
Ending Balance, shares \| shares	111,418
Beginning Balance, Weighted-Average Grant Date Fair Value \| $ / shares	$ 52.66
Granted, Weighted-Average Grant Date Fair Value \| $ / shares	51.06
Vested, Weighted-Average Grant Date Fair Value \| $ / shares	49.85
Forfeited, Weighted-Average Grant Date Fair Value \| $ / shares	56.54
Ending Balance, Weighted-Average Grant Date Fair Value \| $ / shares	$ 52.97

Share-Based Compensation - Summary of Stock Option Activity (Details) - USD ($)

9 Months Ended

12 Months Ended

Sep. 30, 2020

Dec. 31, 2019

Options outstanding and exercisable

41,143

Granted

204,150

0

Exercised, Shares

(41,143)

Options outstanding at September 30, 2020

204,150

Weighted-Average Exercise Price

Options outstanding and exercisable Beginning Balance, Weighted-Average Exercise Price

$ 16.62

Granted

$ 19.98

Exercised, Weighted-Average Exercise Price

16.62

Options outstanding at September 30, 2020

$ 19.98

Aggregate intrinsic value of options outstanding at September 30, 2020

^[1]

$ 229,500

[1]	^{The aggregate intrinsic value of stock options outstanding represents the difference between our closing stock price at the end of the reporting period and the exercise price, multiplied by the number of in-the-money stock options.}

Share Based Compensation - Summary of Options Outstanding and Exercisable (Details)	9 Months Ended
	Sep. 30, 2020 $ / shares shares
Exercise Price Range One
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range [Line Items]
Range of exercise prices	$ 19.30
Shares \| shares	150,000
Weighted-Average Remaining Contractual Life (in years)	8 years 3 months
Weighted-Average Exercise Price	$ 19.30
Exercise Price Range Two
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range [Line Items]
Range of exercise prices	$ 21.85
Shares \| shares	54,150
Weighted-Average Remaining Contractual Life (in years)	6 years 10 months 28 days
Weighted-Average Exercise Price	$ 21.85
Exercise Price Range Three
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range [Line Items]
Range of exercise prices	19.30
Range of exercise prices	$ 21.85
Shares \| shares	204,150
Weighted-Average Remaining Contractual Life (in years)	7 years 10 months 20 days
Weighted-Average Exercise Price	$ 19.98

Share Based Compensation - Assumptions Used in the Black-Scholes Option Pricing Model to Estimate the Fair Value of Each Stock Option Grant (Details) - USD ($) $ / shares in Units, $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range [Line Items]
Risk-free interest rate, Minimum	0.27%
Risk-free interest rate, Maximum	0.31%
Expected volatility, Minimum	46.90%
Expected volatility, Maximum	52.20%
Weighted average grant-date fair value per share of options granted	$ 8.38
Cash received from exercise of options (in thousands)	$ 2,077	$ 92
Minimum
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range [Line Items]
Expected life	4 years 3 months 18 days
Maximum
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range [Line Items]
Expected life	5 years 4 months 24 days

Acquisitions - Narrative (Details) $ in Thousands, $ in Millions					3 Months Ended		9 Months Ended		12 Months Ended
	Jul. 25, 2019 USD ($)	Jun. 08, 2019 USD ($) Hotel	Jun. 08, 2019 CAD ($) Hotel	May 16, 2019 USD ($)	Sep. 30, 2020 USD ($)	Sep. 30, 2019 USD ($)	Sep. 30, 2020 USD ($)	Sep. 30, 2019 USD ($)	Dec. 31, 2019 USD ($)
Business Acquisition [Line Items]
Operating loss					$ (9,410)	$ 52,142	$ (71,803)	$ 82,374
Total revenue					63,072	353,743	389,863	1,009,686
Pursuit
Business Acquisition [Line Items]
Total revenue					48,815	$ 135,043	67,602	$ 201,119
Belton Chalet
Business Acquisition [Line Items]
Purchase price				$ 3,200
Acquisition related costs				$ 300
Business acquisition date				May 16, 2019
Mountain Park Lodges
Business Acquisition [Line Items]
Acquisition related costs									$ 900
Business acquisition date		Jun. 08, 2019	Jun. 08, 2019
Percentage of controlling interest acquired		60.00%	60.00%
Number of hotels acquired \| Hotel		7	7
Total consideration		$ 76,000	$ 100.6
Percentage of operations results consolidated to financial statements		100.00%	100.00%
Percentage of non-redeemable noncontrolling portion of income (loss) recorded in financial statements		40.00%	40.00%
Operating loss					4,400		200
Total revenue					$ 8,900		$ 12,900
Identifiable intangible assets acquired		$ 20,200
Weighted average amortization period		30 years 9 months 18 days	30 years 9 months 18 days
New Sky Lagoon Attraction \| Pursuit \| Sky Lagoon Attraction
Business Acquisition [Line Items]
Percentage of controlling interest acquired	51.00%
Payments to acquire controlling interest	$ 13,200

Acquisitions - Schedule of Proforma Results of Operations (Details) - Mountain Park Lodges - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2020
Business Acquisition [Line Items]
Revenue	$ 362,488	$ 1,058,622
Depreciation and amortization	16,347	46,695
Income from continuing operations	34,607	28,709
Net income attributable to Viad	$ 31,416	$ 26,765
Diluted income per share	$ 1.53	$ 1.29
Basic income per share	$ 1.53	$ 1.29

Inventories - Components of Inventories (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Components of Inventories
Raw materials	$ 10,796	$ 11,788
Finished goods	5,500	5,481
Inventories	$ 16,296	$ 17,269

Other Current Assets - Schedule of Other Current Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract]
Prepaid software maintenance	$ 4,045	$ 3,875
Prepaid insurance	2,565	5,573
Prepaid vendor payments	2,106	4,698
Prepaid taxes	1,087	917
Income tax receivable	162	13,250
Prepaid other	2,097	1,904
Other	4,134	637
Other current assets	$ 16,196	$ 30,854

Property and Equipment - Schedule of Property and Equipment (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Property Plant And Equipment [Line Items]
Gross property and equipment	$ 807,115	$ 829,525
Accumulated depreciation	(352,456)	(353,974)
Property and equipment, net (excluding finance leases)	454,659	475,551
Finance lease right-of-use assets, net	22,786	25,350
Property and equipment, net	477,445	500,901
Land and land interests
Property Plant And Equipment [Line Items]
Gross property and equipment	32,481	34,532
Buildings and leasehold improvements
Property Plant And Equipment [Line Items]
Gross property and equipment	374,549	377,754
Equipment and other
Property Plant And Equipment [Line Items]
Gross property and equipment	$ 400,085	$ 417,239

Property and Equipment - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Property Plant And Equipment [Line Items]
Depreciation expense	$ 11,500	$ 12,700	$ 35,100	$ 34,000
Amortization expense on finance lease assets	926	$ 697	2,767	1,895
Property and equipment purchased through accounts payable and accrued liabilities, decreased amount			$ 6,300	$ 2,000
Capitalized Software
Property Plant And Equipment [Line Items]
Fixed asset impairment charges	$ 700

Other Investments and Assets - Summary of Other Investments and Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Investments All Other Investments [Abstract]
Self-insured liability receivable	$ 9,982	$ 9,982
Contract costs	4,464	3,961
Other mutual funds	3,136	3,107
Cash surrender value of life insurance		24,873
Other	2,355	3,196
Other investments and assets	$ 19,937	$ 45,119

Goodwill and Other Intangible Assets - Summary of Goodwill Balances by Component and Segment (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2020 USD ($)
Goodwill [Line Items]
Balance, beginning	$ 287,983
Goodwill impairment	(186,075)
Foreign currency translation adjustments	(4,977)
Balance, ending	96,931
GES North America
Goodwill [Line Items]
Balance, beginning	155,276
Goodwill impairment	(155,276)
GES EMEA
Goodwill [Line Items]
Balance, beginning	30,829
Goodwill impairment	(29,042)
Foreign currency translation adjustments	(1,787)
Pursuit
Goodwill [Line Items]
Balance, beginning	101,878
Goodwill impairment	(1,757)
Foreign currency translation adjustments	(3,190)
Balance, ending	$ 96,931

Goodwill and Other Intangible Assets - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended				9 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Segment Reporting Information [Line Items]
Income tax benefit related to goodwill impairment charges			$ 12,400
Full Impairement Charges		$ 113,100
Remaining goodwill balance	$ 96,931				$ 96,931		$ 287,983
Impairment charge to intangible assets					15,700
Services
Segment Reporting Information [Line Items]
Intangible asset amortization expense	1,500			$ 2,900	5,200	$ 8,200
G E S U S
Segment Reporting Information [Line Items]
Goodwill impairment			41,900
GES EMEA
Segment Reporting Information [Line Items]
Goodwill impairment			29,000
Remaining goodwill balance							30,829
Pursuit Glacier Park Collection
Segment Reporting Information [Line Items]
Goodwill impairment			$ 1,800
Pursuit
Segment Reporting Information [Line Items]
Remaining goodwill balance	$ 96,931				$ 96,931		$ 101,878

Goodwill and Other Intangible Assets - Summary of Other Intangible Assets (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Finite-Lived Intangible Assets, Net [Abstract]
Intangible assets subject to amortization, Gross Carrying Value	$ 101,038	$ 142,894
Intangible assets subject to amortization, Accumulated Amortization	(32,968)	(49,157)
Intangible assets subject to amortization, Net Carrying Value	68,070	93,737
Other intangible assets, Gross Carrying Value	101,606	143,465
Other intangible assets, Net Carrying Value	$ 68,638	94,308
Customer contracts and relationships
Finite-Lived Intangible Assets, Net [Abstract]
Intangible assets subject to amortization, Useful Life (Years)	6 years 4 months 24 days
Intangible assets subject to amortization, Gross Carrying Value	$ 40,006	72,219
Intangible assets subject to amortization, Accumulated Amortization	(27,381)	(40,866)
Intangible assets subject to amortization, Net Carrying Value	$ 12,625	31,353
Operating contracts and licenses
Finite-Lived Intangible Assets, Net [Abstract]
Intangible assets subject to amortization, Useful Life (Years)	36 years 9 months 18 days
Intangible assets subject to amortization, Gross Carrying Value	$ 39,156	43,329
Intangible assets subject to amortization, Accumulated Amortization	(2,258)	(1,881)
Intangible assets subject to amortization, Net Carrying Value	$ 36,898	41,448
In-place lease
Finite-Lived Intangible Assets, Net [Abstract]
Intangible assets subject to amortization, Useful Life (Years)	13 years 9 months 18 days
Intangible assets subject to amortization, Gross Carrying Value	$ 14,670	15,044
Intangible assets subject to amortization, Accumulated Amortization	(532)	(231)
Intangible assets subject to amortization, Net Carrying Value	$ 14,138	14,813
Tradenames
Finite-Lived Intangible Assets, Net [Abstract]
Intangible assets subject to amortization, Useful Life (Years)	5 years 6 months
Intangible assets subject to amortization, Gross Carrying Value	$ 5,687	9,423
Intangible assets subject to amortization, Accumulated Amortization	(2,155)	(4,338)
Intangible assets subject to amortization, Net Carrying Value	$ 3,532	5,085
Non-compete agreements
Finite-Lived Intangible Assets, Net [Abstract]
Intangible assets subject to amortization, Useful Life (Years)	1 year 3 months 18 days
Intangible assets subject to amortization, Gross Carrying Value	$ 736	2,077
Intangible assets subject to amortization, Accumulated Amortization	(552)	(1,775)
Intangible assets subject to amortization, Net Carrying Value	$ 184	302
Other
Finite-Lived Intangible Assets, Net [Abstract]
Intangible assets subject to amortization, Useful Life (Years)	7 years 4 months 24 days
Intangible assets subject to amortization, Gross Carrying Value	$ 783	802
Intangible assets subject to amortization, Accumulated Amortization	(90)	(66)
Intangible assets subject to amortization, Net Carrying Value	693	736
Business licenses
Finite-Lived Intangible Assets, Net [Abstract]
Indefinite-lived intangible assets, Gross Carrying Value	$ 568	$ 571

Goodwill and Other Intangible Assets - Estimated Future Amortization Expense Related to Intangible Assets Subject to Amortization (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Estimated amortization expense related to amortized intangible assets
Remainder of 2020	$ 1,278
2021	5,089
2022	4,968
2023	4,322
2024	3,383
Thereafter	49,030
Intangible assets subject to amortization, Net Carrying Value	$ 68,070	$ 93,737

Other Current Liabilities - Schedule of Other Current Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Continuing operations:
Self-insured liability	$ 6,227	$ 5,668
Accrued restructuring	4,574	2,130
Accrued sales and use taxes	2,914	5,451
Commissions payable	2,541	8,274
Accrued employee benefit costs	2,108	3,564
Current portion of pension and postretirement liabilities	1,722	1,899
Accrued professional fees	1,137	1,248
Accrued legal settlement		2,500
Accrued dividends		2,019
Other taxes	1,655	278
Accommodation services deposits	506	959
Other	6,204	5,187
Total continuing operations	29,588	39,177
Discontinued operations:
Self-insured liability	422	260
Environmental remediation liabilities	60	311
Other	57	76
Total discontinued operations	539	647
Total other current liabilities	$ 30,127	$ 39,824

Other Deferred Items and Liabilities - Summary of Other Deferred Items and Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Continuing operations:
Foreign deferred tax liability	$ 25,127	$ 32,570
Multi-employer pension plan withdrawal liability	15,970	15,693
Self-insured excess liability	9,982	9,982
Self-insured liability	8,046	8,682
Accrued compensation	4,806	7,485
Accrued restructuring	2,447	2,383
Contract liabilities	623	125
Other	3,487	2,423
Total continuing operations	70,488	79,343
Discontinued operations:
Environmental remediation liabilities	2,186	1,964
Self-insured liability	1,824	2,018
Other	676	382
Total discontinued operations	4,686	4,364
Total other deferred items and liabilities	$ 75,174	$ 83,707

Debt and Finance Lease Obligations - Schedule of Long-term Debt and Finance Lease Obligations (Details) - USD ($)
$ in Thousands

Sep. 30, 2020

Dec. 31, 2019

Debt Instrument [Line Items]

Less unamortized debt issuance costs

$ (2,953)

$ (1,836)

Total debt

^[1]

233,174

315,235

Finance lease obligations, 7.9% weighted-average interest rate at September 30, 2020 and 7.7% at December 31, 2019, due through 2039

23,018

25,257

Total debt and finance lease obligations

^[2]

256,192

340,492

Current portion

^[3]

(4,040)

(5,330)

Long-term debt and finance lease obligations

252,152

335,162

FlyOver Iceland Credit Facility

Debt Instrument [Line Items]

Credit facility

^[4]

5,584

5,607

2018 Credit Agreement | Revolving Credit Facility

Debt Instrument [Line Items]

Credit facility

^[4]

$ 230,543

$ 311,464

[1]	The estimated fair value of total debt and finance leases was $222.0 million as of September 30, 2020 and $339.4 million as of December 31, 2019. 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
[2]	Cash paid for interest on debt was $12.1 million for the nine months ended September 30, 2020 and $8.8 million for the nine months ended September 30, 2019.
[3]	Subsequent to the filing of our 2019 Form 10-K, we identified a correction related to the classification of the 2018 Credit Facility (as defined below) from current to long-term given that the 2018 Credit Facility’s contractual maturity was not within 12 months of the balance sheet date, and we were in compliance with all applicable covenants as of December 31, 2019. As a result, we corrected the classification of the debt on the accompanying condensed consolidated balance sheet and the disclosure related to classification of debt in the table above as of December 31, 2019 to present the 2018 Credit Facility as long-term. Except for this change, the correction had no impact upon this Quarterly Report on Form 10-Q. We determined that the error is not material to the previously issued financial statements.
[4]	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.

Debt and Finance Lease Obligations - Schedule of Long-term Debt and Finance Lease Obligations (Parenthetical) (Details) - USD ($) $ in Millions	9 Months Ended		12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Debt Instrument [Line Items]
Weighted average interest rate on long term debt	7.90%		7.70%
Fair value of debt	$ 222.0		$ 339.4
Cash paid for interest on debt	$ 12.1	$ 8.8
Current revolving credit facility maturity period	12 months		12 months
FlyOver Iceland Credit Facility
Debt Instrument [Line Items]
Weighted average interest rate on long term debt	4.90%		4.90%
2018 Credit Agreement \| Revolving Credit Facility
Debt Instrument [Line Items]
Interest rate on credit facility	4.60%		3.90%

Debt and Finance Lease Obligations - Narrative (Details)
$ in Thousands, € in Millions

3 Months Ended

9 Months Ended

Aug. 05, 2020

USD ($)

May 14, 2020

Oct. 24, 2018

USD ($)

Sep. 30, 2020

USD ($)

Mar. 31, 2020

Sep. 30, 2020

USD ($)

Dec. 31, 2020

USD ($)

Mar. 17, 2020

USD ($)

Dec. 31, 2019

USD ($)

Feb. 15, 2019

USD ($)

Feb. 15, 2019

EUR (€)

Minimum liquidity requirement

$ 125,000

Pledge percentage of capital stock

100.00%

Fees related to the amendment

$ 1,700

Unsecured Debt

Expansion feature - amount available as incremental revolver

$ 250,000

Scenario Forecast

Minimum liquidity requirement

$ 100,000

LIBOR

FlyOver Iceland Credit Facility

Variable rate

3.50%

Revolving credit facility, balance outstanding

Maturity date

Sep. 01, 2022

Mar. 01, 2022

^[1]

$ 5,584

$ 5,607

Maximum borrowing capacity on credit facility

$ 5,600

€ 5.0

Line of credit facility amendment description

an addendum to the FlyOver Iceland Credit Facility effective May 14, 2020 wherein the principal and interest payments were deferred for six months beginning June 1, 2020, with the first payment due December 1, 2020. The addendum also extended the maturity date to September 1, 2022. There were no other changes to the terms of the FlyOver Iceland Credit Facility.

Line of credit facility, date of first required payment

Dec. 01, 2020

2018 Credit Agreement | Revolving Credit Facility

Borrowing capacity on line of credit

$ 450,000

Maturity date

Oct. 24, 2023

Interest coverage ratio

200.00%

Repayments of Lines of Credit

217,000

Commitment fee percentage on line of credit

0.50%

Remaining borrowing capacity on line of credit

$ 209,800

Revolving credit facility, balance outstanding

^[1]

230,543

$ 230,543

$ 311,464

Letters of Credit Outstanding

$ 9,700

2018 Credit Agreement | Revolving Credit Facility | Maximum

Leverage ratio during covenant waiver period

400.00%

Leverage ratio, post covenant waiver period

450.00%

Financial covenants leverage ratio step up

400.00%

[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.

Fair Value Measurements - Summary of Fair Value Assets Measured on Recurring Basis (Details) - Fair Value, Measurements, Recurring - USD ($)
$ in Thousands

Sep. 30, 2020

Dec. 31, 2019

Quoted Prices in Active Markets (Level 1)

$ 3,138

$ 3,230

3,138

3,230

Money market funds

Money market funds | Quoted Prices in Active Markets (Level 1)

^[1]

2

123

^[1]

2

123

Other mutual funds

Other mutual funds | Quoted Prices in Active Markets (Level 1)

^[2]

3,136

3,107

^[2]

$ 3,136

$ 3,107

[1]	^{We include money market funds in “Cash and cash equivalents” in the Condensed Consolidated Balance Sheets. We classify these investments as available-for-sale and record them at fair value. There have been no realized gains or losses related to these investments and we have not experienced any redemption restrictions with respect to any of the money market mutual funds.}
[2]	We include other mutual funds in “Other investments and assets” in the Condensed Consolidated Balance Sheets.

Fair Value Measurements - Summary of Fair Value Assets Measured on Recurring Basis (Parenthetical) (Details) - Money market funds	9 Months Ended
	Sep. 30, 2020 USD ($)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Realized gains on the investments	$ 0
Unrealized gains on the investments	$ 0

Accumulated Other Comprehensive Income (Loss) - Schedule of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning Balance	$ 547,229	$ 450,555
Ending Balance	210,468	532,527
Cumulative Foreign Currency Translation Adjustments
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning Balance	(23,799)	(36,332)
Other comprehensive income (loss) before reclassifications	(7,342)	3,868
Net other comprehensive income (loss)	(7,342)	3,868
Ending Balance	(31,141)	(32,464)
Unrecognized Net Actuarial Loss and Prior Service Credit, Net
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning Balance	(11,900)	(11,643)
Amounts reclassified from AOCI, net of tax	354	196
Net other comprehensive income (loss)	354	196
Ending Balance	(11,546)	(11,447)
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning Balance	(35,699)	(47,975)
Other comprehensive income (loss) before reclassifications	(7,342)	3,868
Amounts reclassified from AOCI, net of tax	354	196
Net other comprehensive income (loss)	(6,988)	4,064
Ending Balance	$ (42,687)	$ (43,911)

Amount after tax and reclassification adjustments of other comprehensive income (loss).

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Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity.

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Net income (loss) attributable to Viad (diluted)

Income (Loss) Per Share - Reconciliation of Basic and Diluted Income (loss) Per Share (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands

3 Months Ended

9 Months Ended

Sep. 30, 2020

Sep. 30, 2019

Sep. 30, 2020

Sep. 30, 2019

Numerator:

$ (30,758)

$ 31,416

$ (323,621)

$ 27,463

Less: Allocation to non-vested shares

(226)

(196)

Dividends on convertible preferred stock

(1,134)

Adjustment to the redemption value of redeemable noncontrolling interest

(468)

(264)

(926)

(530)

Net income (loss) allocated to Viad common stockholders (basic)

$ (32,360)

$ 30,926

$ (325,681)

$ 26,737

Denominator:

Weighted-average outstanding common shares

20,293

20,168

20,263

20,129

Additional dilutive shares related to share-based compensation

143

138

Diluted weighted-average outstanding shares

20,293

20,311

20,263

20,267

Basic income (loss) attributable to Viad common stockholders

$ (1.59)

$ 1.53

$ (16.07)

$ 1.33

Diluted income (loss) attributable to Viad common stockholders(1)

^[1]

$ (1.59)

$ 1.53

$ (16.07)

$ 1.33

[1]	^{Diluted loss per share amount cannot exceed basic loss per share.}

Income Taxes - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Income Taxes - Narrative (Details) - USD ($) $ in Millions	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Income Tax Disclosure [Abstract]
Effective income tax rate	(2.70%)	25.60%	(6.80%)	26.50%
Income tax refunds	$ 6.8		$ 14.7
Income taxes paid		$ 4.1		$ 12.1

Pension and Postretirement Benefits - Components of Net Periodic Benefit Cost of Pension and Postretirement Benefit Plans (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
UNITED STATES \| Pension Plans
Net periodic benefit cost:
Service cost		$ 15		$ 46
Interest cost	$ 162	209	$ 490	646
Expected return on plan assets	(74)	(35)	(109)	(74)
Recognized net actuarial loss	130	96	395	302
Net periodic benefit cost	218	285	776	920
UNITED STATES \| Postretirement Benefit Plans
Net periodic benefit cost:
Service cost	7	13	38	48
Interest cost	64	93	222	343
Amortization of prior service credit	(36)	(47)	(109)	(141)
Recognized net actuarial loss	(26)	(43)	13	84
Net periodic benefit cost	9	16	164	334
Foreign Pension Plans
Net periodic benefit cost:
Service cost	112	101	330	303
Interest cost	87	92	254	281
Expected return on plan assets	(134)	(122)	(394)	(364)
Recognized net actuarial loss	48	37	138	111
Net periodic benefit cost	$ 113	$ 108	$ 328	$ 331

Pension and Postretirement Benefits - Narrative (Details) $ in Millions	9 Months Ended
	Sep. 30, 2020 USD ($)
Postretirement Benefit Plans
Defined Benefit Plan Disclosure [Line Items]
Amount expected to contribute in postretirement benefit plans	$ 1.0
Pension and Other Postretirement Benefit Contributions	0.6
Funded Plans \| Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Amount expected to contribute in funded pension plans	1.3
Pension Contributions	0.2
Unfunded Pension Plans \| Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Amount expected to contribute in unfunded pension plans	0.9
Pension Contributions	$ 0.7

Restructuring Charges - Changes to Restructuring Liability by Major Restructuring Activity (Details) - USD ($)
$ in Thousands

3 Months Ended

9 Months Ended

Sep. 30, 2020

Sep. 30, 2019

Sep. 30, 2020

Sep. 30, 2019

$ 4,513

$ 11,259

$ 1,702

12,370

$ 6,845

(4,027)

Non-cash items

^[1]

(5,152)

(683)

GES | Severance & Employee Benefits

7,021

2,935

5,332

(3,261)

(54)

4,952

GES | Facilities

1,339

6,039

(197)

Non-cash items

^[1]

(5,152)

(17)

Other Restructuring | Severance & Employee Benefits

2,012

239

999

(569)

(612)

Amortization of right-of-use assets

$ 57

[1]

(1)	Represents the FX impact related to the closure and liquidation of GES’ United Kingdom-based audio-visual services business during the three months ended September 30, 2020.

Restructuring Charges - Narrative (Details) $ in Millions	Sep. 30, 2020 USD ($)
Restructuring And Related Activities [Abstract]
Payments of liabilities related to severance and employee benefits	$ 1.5

Leases and Other - Summary of Balance Sheet Presentation of Operating and Finance Leases (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Lessee Lease Description [Line Items]
Operating lease assets	$ 88,394	$ 103,314
Finance lease assets	22,786	25,350
Total lease assets	111,180	128,664
Operating lease obligations	17,872	22,180
Finance lease obligations	2,895
Operating lease obligations	73,688	82,851
Finance lease obligations	20,123
Total lease liabilities	114,578	130,288
Operating Lease Right-of-Use Assets
Lessee Lease Description [Line Items]
Operating lease assets	88,394	103,314
Property and Equipment, Net
Lessee Lease Description [Line Items]
Finance lease assets	22,786	25,350
Operating Lease Obligations
Lessee Lease Description [Line Items]
Operating lease obligations	17,872	22,180
Current Portion of Debt and Finance Lease Obligations
Lessee Lease Description [Line Items]
Finance lease obligations	2,895	3,386
Long-Term Operating Lease Obligations
Lessee Lease Description [Line Items]
Operating lease obligations	73,688	82,851
Long-Term Debt and Finance Lease Obligations
Lessee Lease Description [Line Items]
Finance lease obligations	$ 20,123	$ 21,871

Leases and Other - Components of Least Expenses (Details) - USD ($)
$ in Thousands

3 Months Ended

9 Months Ended

Sep. 30, 2020

Sep. 30, 2019

Sep. 30, 2020

Sep. 30, 2019

Finance lease cost:

$ 926

$ 697

$ 2,767

$ 1,895

Interest on lease liabilities

429

130

1,258

379

Operating lease cost

6,596

6,625

20,235

19,456

Short-term lease cost

123

571

465

1,348

Variable lease cost

1,557

1,478

4,615

4,695

Sublease income

^[1]

226

Total lease cost, net

$ 9,631

$ 9,727

$ 29,340

$ 27,773

[1]	Sublease income excludes rental income from owned assets, which is recorded in revenue.

Leases and Other - Schedule of Other Information Related to Operating and Finance Leases (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$ 5,644	$ 7,250	$ 18,268	$ 20,853
Operating cash flows from finance leases	839	210	1,705	459
Financing cash flows from finance leases	665	525	2,235	1,537
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	(3,059)	49,123	1,018	62,375
Finance leases	$ 126	$ 14,893	$ 1,894	$ 35,844
Weighted-average remaining lease term (years):
Operating leases	8 years 3 months 18 days		8 years 3 months 18 days		8 years 2 months 1 day
Finance leases	13 years 6 months 29 days		13 years 6 months 29 days		14 years 3 days
Weighted-average discount rate:
Operating leases	5.89%		5.89%		5.77%
Finance leases	7.91%		7.91%		7.73%

Leases and Other - Schedule of Estimated Future Minimum Lease Payments Under Non-cancelable Leases Excluding Variable Leases and Variable Non-lease Components (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Leases [Abstract]
Remainder of 2020	$ 6,188
2021	20,043
2022	15,844
2023	13,407
2024	10,265
Thereafter	54,410
Total future lease payments	120,157
Less: Amount representing interest	(28,597)
Present value of minimum lease payments	91,560
Current portion	17,872	$ 22,180
Long-term portion	73,688	82,851
Remainder of 2020	1,458
2021	4,284
2022	3,796
2023	3,276
2024	2,609
Thereafter	23,556
Total future lease payments	38,979
Less: Amount representing interest	(15,961)
Present value of minimum lease payments	23,018	25,257
Current portion	2,895
Long-term portion	20,123
Remainder of 2020	7,646
2021	24,327
2022	19,640
2023	16,683
2024	12,874
Thereafter	77,966
Total future lease payments	159,136
Less: Amount representing interest	(44,558)
Total lease liabilities	114,578	$ 130,288
Current portion	20,767
Long-term portion	$ 93,811

Leases and Other - Schedule of Estimated Future Minimum Rentals Under Non-cancellable Leases (Details) $ in Thousands	Sep. 30, 2020 USD ($)
Leases [Abstract]
Remainder of 2020	$ 431
2021	1,499
2022	1,046
2023	830
2024	612
Thereafter	1,765
Total minimum rents	$ 6,183

Leases and Other - Narrative (Details)	9 Months Ended
Leases and Other - Narrative (Details)	Sep. 30, 2020
Lessee Lease Description [Line Items]
Operating lease not yet commenced, description	we had executed certain facility and land leases for which we did not have control of the underlying assets. Accordingly, we did not record the lease liabilities and right-of-use assets on our Condensed Consolidated Balance Sheets. These leases include future planned attractions for Pursuit that are currently in the planning or development phase and that we expect the lease commencement dates to begin between fiscal years 2021 and 2022 with lease terms of 15 to 47 years
Minimum [Member]
Lessee Lease Description [Line Items]
Operating lease not yet commenced, term of contract	15 years
Maximum
Lessee Lease Description [Line Items]
Operating lease not yet commenced, term of contract	47 years

Litigation, Claims, Contingencies and Other - Narrative (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2020 USD ($)	Sep. 30, 2019 USD ($)	Sep. 30, 2020 USD ($) Agreement	Sep. 30, 2019 USD ($)
Loss Contingencies [Line Items]
Legal settlement				$ 8,500,000
Environmental remediation liability	$ 2,200,000		$ 2,200,000
Maximum potential amount of future payments	75,500,000		$ 75,500,000
Guarantees relate to facilities and equipment leased by the company			2040-01
Recourse provision to recover guarantees	0		$ 0
Bargaining agreements \| Agreement			100
Multiemployer plans, withdrawal obligation	15,500,000		$ 15,500,000
Multiemployer plans other withdrawal obligation	200,000		200,000
Self insurance reserve	14,300,000		14,300,000
Workers' compensation liability	9,800,000		9,800,000
Self insurance reserve for general and auto	4,500,000		4,500,000
Self insurance reserve on discontinued operations	2,200,000		2,200,000
Estimated employee health benefit claims incurred but not yet reported	1,500,000		1,500,000
Payments for self insurance	1,600,000	$ 2,000,000.0	4,400,000	$ 5,300,000
Self insurance reserve in which company is the primary obligor	10,000,000.0		10,000,000.0
Self insurance reserve in which company is the primary obligor for workers compensation	6,500,000		6,500,000
Self insurance reserve in which company is the primary obligor for general liability	3,500,000		3,500,000
Minimum
Loss Contingencies [Line Items]
General range on claims	200,000		200,000
Maximum
Loss Contingencies [Line Items]
General range on claims	$ 500,000		500,000
GES
Loss Contingencies [Line Items]
Legal settlement			$ 8,500,000

Redeemable Noncontrolling Interest - Narrative (Details) - Esja Attractions ehf. - EUR (€)	9 Months Ended
	Sep. 30, 2020	Nov. 03, 2017
Redeemable Noncontrolling Interest [Line Items]
Percentage of controlling interest acquired		54.50%
EBITDA trailing period	12 months
Put option right of exercisable period upon earnings	36 months
Redeemable noncontrolling interest conditions	The put option is only exercisable after 36 months of business operation (the “Reference Date”) and if the FlyOver Iceland attraction has earned a minimum of €3.25 million in unadjusted EBITDA during the most recent fiscal year and during the trailing 12-month period prior to exercise (the “Put Option Condition”). The put option is exercisable during a period of 12 months following the Reference Date (the “Option Period”) if the Put Option Condition has been met. If the Put Option Condition has not been met during the first Option Period, the Reference Date will be extended for an additional 12 months up to three times. If after 72 months, the FlyOver Iceland attraction has not achieved the Put Option Condition, the put option expires. If the Put Option Condition is met during any of the Option Periods, yet the shares are not exercised prior to the end of the 12-month Option Period, the put option will expire.
Put option exercisable period	12 months
Put option additional exercisable period upon not meeting of conditions	12 months
FlyOver Iceland
Redeemable Noncontrolling Interest [Line Items]
Put option expiration period	72 months
FlyOver Iceland \| Minimum [Member]
Redeemable Noncontrolling Interest [Line Items]
Unadjusted EBITDA	€ 3,250,000

Redeemable Noncontrolling Interest - Summary of Changes in Redeemable Noncontrolling Interest (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Noncontrolling Interest [Abstract]
Beginning balance			$ 6,172
Net loss attributable to redeemable noncontrolling interest	$ (302)	$ (368)	(1,023)	$ (644)
Adjustment to the redemption value			926
Foreign currency translation adjustment			(804)
Ending balance	$ 5,271		$ 5,271

Segment Information - Reconciliation of Income Statement Items from Reportable Segments (Details) - USD ($)
$ in Thousands

3 Months Ended

9 Months Ended

Sep. 30, 2020

Sep. 30, 2019

Sep. 30, 2020

Sep. 30, 2019

$ 63,072

$ 353,743

$ 389,863

$ 1,009,686

Multi-employer pension plan withdrawal

(9,410)

52,142

(71,803)

82,374

Interest income

58

79

313

260

Interest expense

(5,508)

(3,740)

(14,712)

(9,612)

(462)

(15,508)

Other expense

(210)

(281)

(894)

(1,192)

(11,259)

(1,702)

(12,370)

(6,845)

Income (loss) from continuing operations before income taxes

676

203,076

(27,005)

46,498

(303,004)

40,977

GES

14,257

218,700

322,261

808,567

Pursuit

48,815

135,043

67,602

201,119

Operating Segments

(6,781)

54,806

(65,949)

90,120

Operating Segments | GES

14,257

218,700

322,261

808,567

Operating Segments | Pursuit

(18,248)

(11,586)

(39,450)

25,410

Legal settlement

(8,500)

48,815

135,043

67,602

201,119

11,467

66,392

(26,499)

64,710

12

(45)

Intersegment Eliminations | GES

(1,757)

Intersegment Eliminations | Pursuit

(284)

(5,724)

(3,258)

(14,731)

(144)

(671)

(261)

(1,355)

Corporate Eliminations

^[1]

16

48

49

Corporate

(2,645)

(2,680)

(5,902)

(7,795)

EMEA | Operating Segments | GES

(585)

(62)

(954)

(205)

2,774

39,300

52,096

156,473

(7,262)

(3,024)

(11,256)

2,775

(8,376)

(759)

(9,094)

(1,501)

North America | Operating Segments | GES

(676)

(30,225)

11,767

185,124

273,423

666,825

(10,986)

(8,562)

(28,194)

22,635

$ (2,310)

$ (881)

(2,277)

$ (5,139)