VIAD CORP, 10-K filed on 3/7/2014
Annual Report
Document and Entity Information (USD $)
In Millions, except Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Jan. 31, 2014
Jun. 30, 2013
Document and Entity Information [Abstract]
 
 
 
Entity Registrant Name
VIAD CORP 
 
 
Entity Central Index Key
0000884219 
 
 
Document Type
10-K 
 
 
Document Period End Date
Dec. 31, 2013 
 
 
Amendment Flag
false 
 
 
Document Fiscal Year Focus
2013 
 
 
Document Fiscal Period Focus
FY 
 
 
Current Fiscal Year End Date
--12-31 
 
 
Entity Well-known Seasoned Issuer
Yes 
 
 
Entity Voluntary Filers
No 
 
 
Entity Current Reporting Status
Yes 
 
 
Entity Filer Category
Accelerated Filer 
 
 
Entity Public Float
 
 
$ 480 
Entity Common Stock, Shares Outstanding
 
20,324,136 
 
Consolidated Balance Sheets (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2013
Dec. 31, 2012
Current assets
 
 
Cash and cash equivalents
$ 45,821 
$ 114,171 
Accounts receivable, net of allowance for doubtful accounts of $877 and $1,150, respectively
61,197 
62,756 
Inventories
27,993 
35,656 
Deferred income taxes
20,577 
26,301 
Other current assets
17,142 
15,534 
Total current assets
172,730 
254,418 
Property and equipment, net
190,330 
197,298 
Other investments and assets
35,026 
32,416 
Deferred income taxes
29,823 
26,104 
Goodwill
129,543 
137,820 
Other intangible assets, net
4,480 
2,521 
Total Assets
561,932 
650,577 
Current liabilities
 
 
Accounts payable
40,941 
57,995 
Other current liabilities
73,489 
107,684 
Current portion of long-term debt and capital lease obligations
10,903 
1,347 
Total current liabilities
125,333 
167,026 
Long-term capital lease obligations
765 
879 
Pension and postretirement benefits
30,672 
37,812 
Other deferred items and liabilities
48,619 
47,828 
Total liabilities
205,389 
253,545 
Commitments and contingencies
   
   
Viad Corp stockholders’ equity:
 
 
Common stock, $1.50 par value, 200,000,000 shares authorized, 24,934,981 shares issued
37,402 
37,402 
Additional capital
590,862 
593,862 
Retained deficit
(50,393)
(13,034)
Unearned employee benefits and other
(21)
(1,301)
Accumulated other comprehensive income (loss):
 
 
Unrealized gain on investments
429 
275 
Cumulative foreign currency translation adjustments
30,847 
42,158 
Unrecognized net actuarial loss and prior service credit, net
(11,259)
(14,968)
Common stock in treasury, at cost, 4,618,433 and 4,694,468 shares, respectively
(250,426)
(256,333)
Total Viad Corp stockholders’ equity
347,441 
388,061 
Noncontrolling interest
9,102 
8,971 
Total stockholders’ equity
356,543 
397,032 
Total Liabilities and Stockholders’ Equity
$ 561,932 
$ 650,577 
Consolidated Balance Sheets (Parenthetical) (USD $)
In Thousands, except Share data, unless otherwise specified
Dec. 31, 2013
Dec. 31, 2012
Statement of Financial Position [Abstract]
 
 
Allowance for doubtful accounts
$ 877 
$ 1,150 
Common stock, par value
$ 1.50 
$ 1.50 
Common stock, shares authorized
200,000,000 
200,000,000 
Common stock, shares issued
24,934,981 
24,934,981 
Treasury stock, shares
4,694,468 
4,694,468 
Consolidated Statements of Operations (USD $)
In Thousands, except Per Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Revenues:
 
 
 
Exhibition and event services
$ 685,350 
$ 726,429 
$ 670,054 
Exhibits and environments
159,554 
175,611 
170,496 
Travel and recreation services
127,888 
123,191 
101,814 
Total revenues
972,792 
1,025,231 
942,364 
Costs and expenses:
 
 
 
Costs of services
773,931 
818,837 
752,679 
Costs of products sold
157,745 
164,532 
164,309 
Gain on sale of facility and related land
(4,775)
0 
0 
Corporate activities
6,755 
9,408 
7,682 
Interest income
(550)
(593)
(779)
Interest expense
1,234 
1,303 
1,511 
Restructuring charges
3,891 
4,942 
3,782 
Goodwill impairment charge
4,461 
0 
0 
Other impairment charges
952 
0 
0 
Total costs and expenses
943,644 
998,429 
929,184 
Income from continuing operations before income taxes
29,148 
26,802 
13,180 
Income tax expense
8,590 
20,843 
3,888 
Income from continuing operations
20,558 
5,959 
9,292 
Income from discontinued operations
1,128 
624 
451 
Net income
21,686 
6,583 
9,743 
Net income attributable to noncontrolling interest
(131)
(686)
(533)
Net income attributable to Viad
21,555 
5,897 
9,210 
Diluted income per common share:
 
 
 
Income from continuing operations attributable to Viad common stockholders (per share)
$ 1.01 
$ 0.26 
$ 0.43 
Income from discontinued operations attributable to Viad common stockholders (per share)
$ 0.05 
$ 0.03 
$ 0.02 
Net income attributable to Viad common stockholders (per share)
$ 1.06 
$ 0.29 
$ 0.45 
Weighted-average outstanding and potentially dilutive common shares
20,265 
20,005 
20,055 
Basic income per common share:
 
 
 
Income from continuing operations attributable to Viad common stockholders (per share)
$ 1.01 
$ 0.26 
$ 0.43 
Income from discontinued operations attributable to Viad common stockholders (per share)
$ 0.05 
$ 0.03 
$ 0.02 
Net income attributable to Viad common stockholders (per share)
$ 1.06 
$ 0.29 
$ 0.45 
Weighted-average outstanding common shares
19,850 
19,701 
19,719 
Dividends declared per common share
$ 2.90 
$ 0.28 
$ 0.16 
Amounts attributable to Viad common stockholders
 
 
 
Income from continuing operations
20,427 
5,273 
8,759 
Income from discontinued operations
1,128 
624 
451 
Net income
$ 21,555 
$ 5,897 
$ 9,210 
Consolidated Statements of Comprehensive Income (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Statement of Comprehensive Income [Abstract]
 
 
 
Net income
$ 21,686 
$ 6,583 
$ 9,743 
Other comprehensive income (loss):
 
 
 
Unrealized gains (losses) on investments, net of tax expense (benefit) of $96, $33 and $(36)
154 
53 
(60)
Unrealized foreign currency translation adjustments, net of tax
(11,311)
7,510 
(4,331)
Amortization of net actuarial gain (loss), net of tax expense (benefit) of $2,380, $(574) and $(709)
4,244 
(1,311)
(1,777)
Amortization of prior service credit, net of tax expense (benefit) of $(327), $(433) and $(487)
(535)
(680)
(790)
Comprehensive income
14,238 
12,155 
2,785 
Comprehensive income attributable to noncontrolling interest
(131)
(686)
(533)
Comprehensive income attributable to Viad
$ 14,107 
$ 11,469 
$ 2,252 
Consolidated Statements of Comprehensive Income (Parenthetical) (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Statement of Comprehensive Income [Abstract]
 
 
 
Unrealized investment gains (losses) arising during the period, net of tax expense (benefit)
$ 96 
$ 33 
$ (36)
Amortization of net actuarial loss, net of tax expense (benefit)
2,380 
(574)
(709)
Amortization of prior service credit, net of tax
$ (327)
$ (433)
$ (487)
Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Cash flows from operating activities
 
 
 
Net income
$ 21,686 
$ 6,583 
$ 9,743 
Adjustments to reconcile net income to net cash provided by operating activities:
 
 
 
Depreciation and amortization
28,615 
30,731 
29,126 
Deferred income taxes
1,404 
11,274 
(924)
Income from discontinued operations
(1,128)
(624)
(451)
Restructuring charges
3,891 
4,942 
3,782 
Impairment charges
5,413 
0 
0 
Gain on sale of facility and related land
(4,775)
0 
0 
Gains on dispositions of property and other assets
(265)
(206)
(42)
Share-based compensation expense
5,221 
7,232 
4,413 
Excess tax benefit from share-based compensation arrangements
(422)
(293)
(54)
Other non-cash items, net
4,870 
10,157 
4,659 
Change in operating assets and liabilities (excluding the impact of acquisitions):
 
 
 
Receivables
1,246 
142 
(18,092)
Inventories
7,663 
195 
3,729 
Accounts payable
(15,436)
4,310 
4,372 
Restructuring liabilities
(4,841)
(4,694)
(3,888)
Accrued compensation
(11,707)
1,631 
4,563 
Customer deposits
(20,965)
926 
4,950 
Income taxes payable
218 
467 
(2,694)
Other assets and liabilities, net
(14,633)
(3,587)
(8,456)
Net cash provided by operating activities
6,055 
69,186 
34,736 
Cash flows from investing activities
 
 
 
Capital expenditures
(36,119)
(27,675)
(21,538)
Acquisition of businesses, net of cash acquired
(647)
(23,546)
(41,105)
Proceeds from Sale of Property Held-for-sale
12,696 
0 
0 
Proceeds from sale of land—discontinued operations
1,645 
1,041 
0 
Proceeds from dispositions of property and other assets
464 
322 
440 
Proceeds from sale of short-term investments
0 
384 
0 
Net cash used in investing activities
(21,961)
(49,474)
(62,203)
Cash flows from financing activities
 
 
 
Payments on debt and capital lease obligations
(11,362)
(2,685)
(7,375)
Dividends paid on common stock
(58,914)
(4,454)
(3,241)
Common stock purchased for treasury
(1,328)
(1,656)
(5,230)
Debt issuance costs
0 
0 
(1,001)
Excess tax benefit from share-based compensation arrangements
422 
293 
54 
Proceeds from exercise of stock options
777 
248 
296 
Net cash used in financing activities
(50,405)
(8,254)
(16,497)
Effect of exchange rate changes on cash and cash equivalents
(2,039)
2,337 
(1,501)
Net change in cash and cash equivalents
(68,350)
13,795 
(45,465)
Cash and cash equivalents, beginning of year
114,171 
100,376 
145,841 
Cash and cash equivalents, end of year
45,821 
114,171 
100,376 
Supplemental disclosure of cash flow information
 
 
 
Cash paid for income taxes
8,498 
8,386 
10,213 
Cash paid for interest
1,006 
1,103 
1,088 
Property and equipment acquired under capital leases
832 
1,011 
1,327 
Property and equipment purchases in accounts payable and accrued liabilities
3,204 
4,822 
2,585 
Proceeds from Issuance of Debt
$ 20,000 
$ 0 
$ 0 
Consolidated Statements of Stockholders' Equity (USD $)
In Thousands
Total
Common Stock
Additional Capital
Retained Earnings (Deficit)
Unearned Employee Benefits and Other
Accumulated Other Comprehensive Income
Common Stock in Treasury
Total Viad Equity
Non-Controlling Interest
Beginning Balance at Dec. 31, 2010
$ 386,711 
$ 37,402 
$ 606,902 
$ (19,229)
$ (4,433)
$ 28,851 
$ (270,534)
$ 378,959 
$ 7,752 
Net income
9,743 
 
 
9,210 
 
 
 
9,210 
533 
Payments of Ordinary Dividends, Common Stock
3,241 
 
 
 
 
 
 
 
 
Dividends on common stock
(3,241)
 
 
(3,241)
 
 
 
(3,241)
 
Common stock purchased for treasury
(5,230)
 
 
 
 
 
(5,230)
(5,230)
 
Employee benefit plans
295 
 
(11,086)
 
 
 
11,381 
295 
 
ESOP allocation adjustment
1,490 
 
 
 
1,490 
 
 
1,490 
 
Share-based compensation-equity awards
3,688 
 
3,688 
 
 
 
 
3,688 
 
Tax deficiencies from share-based compensation
(325)
 
(325)
 
 
 
 
(325)
 
Unrealized foreign currency translation adjustment
(4,331)
 
 
 
 
(4,331)
 
(4,331)
 
Unrealized gain (loss) on investments
(60)
 
 
 
 
(60)
 
(60)
 
Amortization of net actuarial loss
(1,777)
 
 
 
 
(1,777)
 
(1,777)
 
Amortization of prior service credit
(790)
 
 
 
 
(790)
 
(790)
 
Other, net
6 
 
9 
4 
(8)
 
1 
6 
 
Ending Balance at Dec. 31, 2011
386,179 
37,402 
599,188 
(13,256)
(2,951)
21,893 
(264,382)
377,894 
8,285 
Net income
6,583 
 
 
5,897 
 
 
 
5,897 
686 
Payments of Ordinary Dividends, Common Stock
4,454 
 
 
 
 
 
 
 
 
Dividends on common stock
(5,674)
 
 
(5,674)
 
 
 
(5,674)
 
Common stock purchased for treasury
(1,656)
 
 
 
 
 
(1,656)
(1,656)
 
Employee benefit plans
248 
 
(9,456)
 
 
 
9,704 
248 
 
ESOP allocation adjustment
1,647 
 
 
 
1,647 
 
 
1,647 
 
Share-based compensation-equity awards
4,036 
 
4,036 
 
 
 
 
4,036 
 
Tax deficiencies from share-based compensation
96 
 
96 
 
 
 
 
96 
 
Unrealized foreign currency translation adjustment
7,510 
 
 
 
 
7,510 
 
7,510 
 
Unrealized gain (loss) on investments
53 
 
 
 
 
53 
 
53 
 
Amortization of net actuarial loss
(1,311)
 
 
 
 
(1,311)
 
(1,311)
 
Amortization of prior service credit
(680)
 
 
 
 
(680)
 
(680)
 
Other, net
1 
 
(2)
(1)
3 
 
1 
1 
 
Ending Balance at Dec. 31, 2012
397,032 
37,402 
593,862 
(13,034)
(1,301)
27,465 
(256,333)
388,061 
8,971 
Net income
21,686 
 
 
 
 
 
 
21,555 
131 
Payments of Ordinary Dividends, Common Stock
58,914 
 
 
 
 
 
 
 
 
Dividends on common stock
(58,914)
 
 
 
 
 
 
(58,914)
 
Common stock purchased for treasury
(1,328)
 
 
 
 
 
(1,328)
(1,328)
 
Employee benefit plans
778 
 
(6,456)
 
 
 
7,234 
778 
 
ESOP allocation adjustment
1,280 
 
 
 
1,280 
 
 
1,280 
 
Share-based compensation-equity awards
3,053 
 
3,053 
 
 
 
 
3,053 
 
Tax benefits from share-based compensation
404 
 
404 
 
 
 
 
404 
 
Tax deficiencies from share-based compensation
404 
 
 
 
 
 
 
 
 
Unrealized foreign currency translation adjustment
(11,311)
 
 
 
 
(11,311)
 
(11,311)
 
Unrealized gain (loss) on investments
154 
 
 
 
 
154 
 
154 
 
Amortization of net actuarial loss
4,244 
 
 
 
 
 
 
4,244 
 
Amortization of prior service credit
(535)
 
 
 
 
 
 
(535)
 
Other, net
0 
 
(1)
0 
   
 
1 
0 
 
Ending Balance at Dec. 31, 2013
$ 356,543 
$ 37,402 
$ 590,862 
$ (50,393)
$ (21)
$ 20,017 
$ (250,426)
$ 347,441 
$ 9,102 
Summary of Significant Accounting Policies
Summary of Significant Accounting Policies
Summary of Significant Accounting Policies
Basis of Presentation and Principles of Consolidation
The consolidated financial statements of Viad Corp (“Viad” or the “Company”) are prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”) and include the accounts of Viad and all of its subsidiaries. All intercompany account balances and transactions between Viad and its subsidiaries have been eliminated in consolidation.
Nature of Business
Viad’s reportable segments consist of Marketing & Events U.S., Marketing & Events International and Travel & Recreation Group.
Marketing & Events Group
The Marketing & Events Group, comprised of Global Experience Specialists, Inc. and affiliates (“GES”), specializes in all aspects of the design, planning and production of face-to-face events, immersive environments and brand-based experiences for clients, including show organizers, corporate brand marketers and retail shopping centers. In addition, the Marketing & Events Group provides a variety of immersive, entertaining attractions and brand-based experiences, sponsored events, mobile marketing and other branded entertainment and face-to-face marketing solutions for clients and venues, including shopping malls, movie studios, museums and leading consumer brands.
Travel & Recreation Group
The Travel & Recreation Group segment consists of Brewster Inc. (“Brewster”), Glacier Park, Inc. (“Glacier Park”) and Alaskan Park Properties, Inc. (“Alaska Denali Travel”). Brewster provides tourism services in the Canadian Rockies in Alberta and in other parts of Western Canada. Brewster’s operations include the Banff Gondola, Columbia Icefield Glacier Adventure, motorcoach services, charter and sightseeing services, tour boat operations, inbound package tour operations and hotel operations. During 2013, Glacier Park, an 80 percent owned subsidiary of Viad, operated five lodges, three motor inns and one four-season resort hotel and provided food and beverage operations, retail operations and tour and transportation services in and around Glacier National Park in Montana and Waterton Lake National Park in Alberta, Canada. As discussed in Note 7 below, Glacier Park’s concession portion of its business with the U.S. National Park Service (the “Park Service”) for Glacier National Park expired on December 31, 2013. Thereafter, the ongoing operations of Glacier Park will include: Glacier Park Lodge in East Glacier, Montana; Grouse Mountain Lodge in Whitefish, Montana; St. Mary Lodge in St. Mary, Montana; Motel Lake McDonald, an in-holding within Glacier National Park and the Prince of Wales Hotel in Waterton Lakes National Park, Alberta, Canada. Alaska Denali Travel operates Denali Backcountry Lodge and Denali Cabins. In addition to lodging, Alaska Denali Travel also provides food and beverage operations and package tour and transportation services in and around Denali National Park and Preserve.
Significant Accounting Policies
Use of Estimates. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. These estimates and assumptions include, but are not limited to:
•
Fair value of Viad’s reporting units used to perform annual impairment testing of recorded goodwill;
•
Allowances for uncollectible accounts receivable;
•
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;
•
Assumptions used to measure pension and postretirement benefit costs and obligations;
•
Assumptions used to determine share-based compensation costs under the fair value method and
•
Allocation of purchase price of acquired businesses.
Actual results could differ from these and other estimates.
Cash and Cash Equivalents. Viad considers all highly-liquid investments with remaining maturities when purchased of three months or less to be cash equivalents. Viad’s cash and cash equivalents consist of cash and bank demand deposits, bank time deposits and money market mutual funds. The Company’s investments in money market mutual funds are classified as available-for-sale and carried at fair value.
Inventories. Inventories, which consist primarily of exhibit design and construction materials and supplies used in providing convention show services, are stated at the lower of cost (first-in, first-out and specific identification methods) or market.
Property and Equipment. Property and equipment are stated at cost, net of accumulated depreciation. Property and equipment are depreciated using the straight-line method over the estimated useful lives of the assets: buildings, 15 to 40 years; equipment, 3 to 12 years; and leasehold improvements, over the shorter of the lease term or useful life. Property and equipment are tested for potential impairment whenever events or changes in circumstances indicate that the carrying amount of the long-lived asset may not be recoverable through undiscounted cash flows.
Capitalized Software. Viad capitalizes certain internal and external costs incurred in developing or obtaining internal use software. Capitalized costs principally relate to costs incurred to purchase software from third parties, external direct costs of materials and services, and certain payroll-related costs for employees directly associated with software projects once application development begins. Costs associated with preliminary project activities, training and other post-implementation activities are expensed as incurred. Capitalized software costs are amortized using the straight-line method over the estimated useful lives of the software, ranging from three to ten years. These costs are included in the consolidated balance sheets under the caption “Property and equipment, net.”
Goodwill. Goodwill is tested for impairment at the reporting unit level on an annual basis on October 31 of each year. Goodwill is also tested for impairment 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 amount. Viad uses a discounted expected future cash flow methodology (income approach) in order to estimate the fair value of its reporting units for purposes of goodwill impairment testing. The estimates and assumptions regarding expected future cash flows, discount rates and terminal values require considerable judgment and are based on market conditions, financial forecasts, industry trends and historical experience. These estimates, however, have inherent uncertainties and different assumptions could lead to materially different results.
Cash Surrender Value of Life Insurance. Viad has Company-owned life insurance contracts which are intended to fund the cost of certain employee compensation and benefit programs. These contracts are carried at cash surrender value, net of outstanding policy loans. The cash surrender value represents the amount of cash the Company could receive if the policies were discontinued before maturity. The changes in the cash surrender value of the policies, net of insurance premiums, are included as a component of “Costs of Services” in the consolidated statements of operations.
Self-Insurance Liabilities. Viad is self-insured up to certain limits for workers’ compensation, automobile, product and general liability, property loss and medical claims. Viad has also retained certain liabilities related to workers’ compensation and general liability insurance claims in conjunction with previously sold operations. Provisions for losses for claims incurred, including estimated claims incurred but not yet reported, are made based on Viad’s prior historical experience, claims frequency and other factors. Viad has purchased insurance for amounts in excess of the self-insured levels.
Environmental Remediation Liabilities. Viad has retained certain liabilities representing the estimated cost of environmental remediation obligations primarily associated with previously sold operations. The amounts accrued primarily consist of the estimated direct incremental costs, on an undiscounted basis, for contractor and other services related to remedial actions and post-remediation site monitoring. Environmental remediation liabilities are recorded when the specific obligation is considered probable and the costs are reasonably estimable. Subsequent recoveries from third parties, if any, are recorded through discontinued operations when realized.
Fair Value of Financial Instruments. The carrying values of cash and cash equivalents, receivables and accounts payable approximate fair value due to the short-term maturities of these instruments. The estimated fair value of debt obligations is disclosed in Note 9.
Foreign Currency Translation. Viad conducts its foreign operations primarily in Canada, the United Kingdom, Germany and to a lesser extent in certain other countries. The functional currency of Viad’s foreign subsidiaries is their local currency. Accordingly, for purposes of consolidation, Viad translates the assets and liabilities of its foreign subsidiaries into U.S. dollars at the foreign exchange rates in effect at the balance sheet date. The unrealized gains or losses resulting from the translation of these foreign denominated assets and liabilities are included as a component of accumulated other comprehensive income in Viad’s consolidated balance sheets. In addition, for purposes of consolidation, the revenues, expenses and gains and losses related to Viad’s foreign operations are translated into U.S. dollars at the average foreign exchange rates for the period.
Revenue Recognition. Viad recognizes revenue when persuasive evidence of an arrangement exists, delivery has occurred or services have been rendered, the sales price is fixed or determinable and collectability is reasonably assured. GES derives revenues primarily by providing show services to exhibitors participating in exhibitions and events and from the design, construction and refurbishment of exhibit booths and holiday themed environments. Service revenue is recognized at the time services are performed. Exhibits and environments revenue is accounted for using the completed-contract method as contracts are typically completed within 3 months of contract signing. The Travel & Recreation Group generates revenues through its attractions, hotels and transportation and sightseeing services. Revenues are recognized at the time services are performed.
Share-Based Compensation. Viad recognizes and measures compensation costs related to all share-based payment awards using the fair value method of accounting. These awards generally include restricted stock, performance-based restricted stock (“PBRS”), stock options and liability-based awards (including performance units, restricted stock units and performance-based restricted stock units). These awards contain forfeiture and non-compete provisions.
The fair value of restricted stock and PBRS awards are based on Viad’s stock price on the date of grant. Viad issues restricted stock and PBRS awards from shares held in treasury. Future vesting of restricted stock and PBRS is generally subject to continued employment with Viad or its subsidiaries. Holders of restricted stock and PBRS have the right to receive dividends and vote the shares, but may not sell, assign, transfer, pledge or otherwise encumber the stock, except to the extent restrictions have lapsed.
Restricted stock awards vest between three and five years from the date of grant. Share-based compensation expense related to restricted stock is recognized using the straight-line method over the requisite service period of approximately three years except for certain awards with a five-year vesting period whereby expense is recognized based on an accelerated multiple-award approach over a five-year period. For these awards, 40 percent of the shares vest on the third anniversary of the grant and the remaining shares vest in 30 percent increments over the subsequent two anniversary dates.
Liability-based awards (including restricted stock units and PBRS units awarded to key employees at certain of the Company’s Canadian operations) are recorded at estimated fair value, based on the number of units expected to vest and the level of achievement of predefined performance goals (where applicable) and are remeasured on each balance sheet date based on Viad’s stock price until the time of settlement. To the extent earned, liability-based awards are settled in cash based on Viad’s stock price. Compensation expense related to liability-based awards is recognized ratably over the requisite service period of approximately three years.
Share-based compensation expense related to PBRS awards is recognized based on an accelerated multiple-award approach over the requisite service period of approximately three years. PBRS vests when certain incentive performance targets established in the year of grant are achieved at target levels. PBRS is subject to a graded vesting schedule whereby one third of the earned shares vest after the first year and the remaining earned shares vest in one-third increments each year over the next two years on the first business day in January.
The fair value of each stock option grant is estimated on the date of grant using the Black-Scholes option pricing model. Share-based compensation expense related to stock option awards is recognized using the straight-line method over the requisite service period of approximately five years. The exercise price of stock options is based on the market value of Viad’s common stock at the date of grant.
Common Stock in Treasury. Common stock purchased for treasury is recorded at historical cost. Subsequent share reissuances are primarily related to share-based compensation programs and recorded at weighted-average cost.
Income Per Common Share. Viad applies the two-class method in calculating income per common share as unvested share-based payment awards that contain nonforfeitable rights to dividends are considered participating securities. Accordingly, such securities are included in the earnings allocation in calculating income per share. Furthermore, Viad funds its matching contributions to employees’ 401(k) accounts through the Company’s leveraged Employee Stock Ownership Plan (“ESOP”) feature of the Company’s 401(k) defined contribution plan. ESOP shares are treated as outstanding for income per share calculations.
Impact of Recent Accounting Pronouncements
In February 2013, the Financial Accounting Standards Board (“FASB”) issued new guidance related to the reporting of amounts reclassified out of accumulated other comprehensive income, which is codified in Accounting Standards Codification (“ASC”) Topic 220. The new guidance requires entities to provide information about the amounts reclassified out of accumulated other comprehensive income by component. In addition, entities are required to present significant amounts reclassified out of other comprehensive income by the respective line items of net income in certain circumstances, or otherwise cross-reference amounts to other disclosures. The adoption of this new guidance did not have an impact on Viad’s financial condition or results of operations. See Note 14 for required disclosures.
In July 2013, the FASB issued new guidance related to the financial statement presentation of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss or a tax credit carryforward exists, which is codified in ASC Topic 740. This new guidance is effective prospectively for fiscal years, and interim periods within those years, beginning after December 15, 2013. Retrospective application is permitted. Management does not believe that this guidance will have an impact on Viad’s financial condition or results of operations.
In January 2014, the FASB issued new guidance, which is codified in ASC Topic 853, related to the accounting for service concession arrangements between a public-sector entity grantor and an operating entity under which the operating entity operates the grantor’s infrastructure. The new guidance specifies that an entity should not account for a service concession arrangement that is within its scope as a lease. Furthermore, the guidance also specifies that the infrastructure used in a service concession arrangement should not be recognized as property, plant, and equipment of the operating entity. The guidance is effective for annual periods and interim periods beginning after December 15, 2014. Viad has not yet determined if the adoption of this new guidance will have a material impact on its financial condition or results of operations.
Share-Based Compensation
Share-Based Compensation
Share-Based Compensation
Viad grants share-based compensation awards to officers, directors and certain key employees pursuant to the 2007 Viad Corp Omnibus Incentive Plan (the “2007 Plan”). The 2007 Plan has a 10-year life and provides for the following types of awards: (a) incentive and non-qualified stock options; (b) restricted stock 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. The number of shares of common stock available for grant under the 2007 Plan is limited to 1.7 million shares plus shares awarded under the 1997 Viad Corp Omnibus Incentive Plan (which terminated in May 2007) (the “1997 Plan”) that subsequently cease for any reason to be subject to such awards (other than by reason of exercise or settlement of the awards to the extent the shares are exercised for, or settled in, vested and non-forfeited shares) up to an aggregate maximum of 1.5 million shares. As of December 31, 2013, there were 983,971 total shares available for future grant.
The following table summarizes share-based compensation expense:
(in thousands)
2013
 
2012
 
2011
Restricted stock/PBRS
$
3,073

 
$
3,267

 
$
3,042

Performance unit incentive plan (“PUP”)
1,864

 
2,922

 
714

Restricted stock units/PBRS units
177

 
450

 
120

Stock options
107

 
593

 
537

Total share-based compensation before income tax benefit
5,221

 
7,232

 
4,413

Income tax benefit
(1,936
)
 
(2,574
)
 
(1,594
)
Total share-based compensation, net of income tax benefit
$
3,285

 
$
4,658

 
$
2,819


In addition, $676,000, $253,000 and $124,000 of costs associated with share-based compensation were included in restructuring expense in 2013, 2012 and 2011, respectively. Of the 2013 amount, $154,000 and $329,000 related to the restricted stock units and PUP awards presented below, respectively. Similarly, of the 2012 amount, $94,000 related to PUP awards. No share-based compensation costs were capitalized during 2013, 2012 or 2011.
On October 25, 2013, Viad announced that its Board of Directors declared a special cash dividend of $2.50 per share, or $50.8 million in the aggregate, which was paid on November 14, 2013. In accordance with the mandatory provisions of the 2007 Plan and the 1997 Plan, the Human Resources Committee of Viad’s Board of Directors approved equitable adjustments to outstanding long-term incentive awards of stock options and PUP awards issued pursuant to those plans in order to prevent the special dividends from diluting the rights of participants under those plans. The equitable adjustments to the outstanding stock options reduced the exercise price and increased the number of shares of common stock underlying such options. The equitable adjustment to the PUP awards reflects the effect of the special dividends, but would be paid only if certain performance goals are met at the end of the 3-year performance period.
Restricted Stock and PBRS. The following table summarizes restricted stock and PBRS activity:
 
Restricted Stock
 
PBRS
 
Shares
 
Weighted-Average
Grant Date
Fair Value
 
Shares
 
Weighted-Average
Grant Date
Fair Value
Balance at January 1, 2011
478,499

 
$
21.51

 
18,830

 
$
33.02

Granted
191,850

 
22.70

 
—

 
—

Vested
(91,212
)
 
31.31

 
(18,414
)
 
33.42

Forfeited
(7,115
)
 
20.81

 
—

 
—

Balance, December 31, 2011
572,022

 
20.36

 
416

 
15.36

Granted
168,050

 
20.46

 
—

 
—

Vested
(219,571
)
 
18.26

 
(416
)
 
15.36

Forfeited
(4,150
)
 
24.80

 
—

 
—

Balance, December 31, 2012
516,351

 
21.25

 
—

 
—

Granted
101,300

 
27.27

 
—

 
—

Vested
(166,320
)
 
20.83

 
—

 
—

Forfeited
(20,432
)
 
22.13

 
—

 
—

Balance, December 31, 2013
430,899

 
22.78

 
—

 
—


The grant date fair value of restricted stock which vested during 2013, 2012 and 2011 was $3.5 million, $4.0 million and $2.9 million, respectively. The grant date fair value of PBRS which vested during 2012 and 2011 was $6,000 and $615,000, respectively. No PBRS vested during 2013. As of December 31, 2013, the unamortized cost of all outstanding stock awards was $3.2 million, which Viad expects to recognize in the consolidated financial statements over a weighted-average period of approximately 1.7 years. During 2013, 2012 and 2011, the Company repurchased 50,156 shares for $1.3 million, 56,885 shares for $1.1 million and 28,627 shares for $679,000, respectively, related to tax withholding requirements on vested share-based awards.
Liability-Based Awards. The following table summarizes the liability-based award activity:
 
PUP Awards
 
Restricted Stock Units
 
PBRS Units
 
Units
 
Weighted-Average
Grant Date
Fair Value
 
Units
 
Weighted-Average
Grant Date
Fair Value
 
Units
 
Weighted-Average
Grant Date
Fair Value
Balance at January 1, 2011
102,960

 
$
33.81

 
26,050

 
$
17.18

 
3,914

 
$
15.36

Granted
95,500

 
23.02

 
12,550

 
23.01

 
—

 
—

Vested
—

 
—

 
—

 
—

 
(1,958
)
 
15.36

Forfeited
(102,960
)
 
33.81

 
—

 
—

 
—

 
—

Balance, December 31, 2011
95,500

 
23.02

 
38,600

 
19.07

 
1,956

 
15.36

Granted
115,100

 
20.60

 
15,850

 
20.57

 
—

 
—

Vested
—

 
—

 
(13,100
)
 
15.36

 
(1,956
)
 
15.36

Forfeited
—

 
—

 
(850
)
 
20.89

 
—

 
—

Balance, December 31, 2012
210,600

 
21.70

 
40,500

 
20.82

 
—

 
—

Granted
93,100

 
27.35

 
8,600

 
27.35

 
—

 
—

Vested
—

 
—

 
(11,300
)
 
19.10

 
—

 
—

Forfeited
(3,932
)
 
21.15

 
(9,240
)
 
22.55

 
—

 
—

Balance, December 31, 2013
299,768

 
23.46

 
28,560

 
22.91

 
—

 
—


As of December 31, 2013 and 2012, Viad had liabilities recorded of $5.9 million and $3.7 million, respectively, related to PUP awards. There were no cash settlements of PUP awards during 2013 or 2012. As of December 31, 2013 and 2012, Viad had aggregate liabilities recorded of $664,000 and $633,000, respectively, related to restricted stock unit liability awards. In February 2013 and 2012, portions of the 2009 and 2010 restricted stock unit awards vested and cash payouts of $300,000 and $257,000 were distributed, respectively. A portion of the 2009 PBRS unit awards vested effective December 31, 2009 and cash payouts of $35,000 and $52,000 were distributed in January 2012 and 2011, respectively.
Stock Options. The following table summarizes stock option activity:
 
Shares
 
Weighted-
Average
Exercise Price
 
Options
Exercisable
Options outstanding at January 1, 2011
763,794

 
$
23.38

 
451,194

Exercised
(14,616
)
 
20.14

 
 
Forfeited or expired
(164,977
)
 
23.88

 
 
Options outstanding at December 31, 2011
584,201

 
23.32

 
396,688

Exercised
(12,099
)
 
19.41

 
 
Forfeited or expired
(208,206
)
 
25.81

 
 
Options outstanding at December 31, 2012
363,896

 
22.03

 
276,009

Exercised
(59,543
)
 
19.42

 
 
Forfeited or expired(1)
(15,853
)
 
40.45

 
 
Award modification
25,823

 
N/A

 
 
Options outstanding at December 31, 2013
314,323

 
19.79

 
314,323


(1) This includes the reversal of previously canceled stock options.
As of December 31, 2013, there were no unrecognized costs related to non-vested stock option awards. No stock options were granted in 2013, 2012 or 2011. As previously discussed above, the equitable adjustments to the outstanding stock options resulting from the special cash dividend paid on November 14, 2013 reduced the exercise price and increased the number of shares of common stock underlying such options.
The following table summarizes information concerning stock options outstanding and exercisable as of December 31, 2013:
 
Options Outstanding
 
Options Exercisable
 
 
 
Weighted-Average
Remaining Contractual Life (in years)
 
Weighted-
Average Exercise Price
 
 
 
Weighted-
Average Exercise Price
Range of Exercise Prices:
Shares
 
 
 
Shares
 
$17.62
262,788

 
5.7
 
$
17.62

 
262,788

 
$
17.62

$22.85
10,895

 
1.9
 
22.85

 
10,895

 
22.85

$31.03
22,118

 
1.2
 
31.03

 
22,118

 
31.03

$35.28
18,522

 
0.1
 
35.28

 
18,522

 
35.28

$17.62 to $35.28
314,323

 
5.1
 
19.79

 
314,323

 
19.79


Additional information pertaining to stock options is provided in the table below:
(in thousands)
2013
 
2012
 
2011
Total intrinsic value of stock options outstanding
$
2,723

 
$
2,329

 
$
—

Total intrinsic value of stock options exercised
$
1,611

 
$
296

 
$
325

Fair value of stock options vested
$
532

 
$
539

 
$
682

Cash received from the exercise of stock options
$
777

 
$
248

 
$
296

Tax benefits (deficiencies) realized for tax deductions related to stock option exercises and performance-based awards
$
404

 
$
96

 
$
(325
)

The aggregate intrinsic value of stock options outstanding in the table above represents the difference between Viad’s closing stock price on December 31 of each year and the exercise price, multiplied by the number of in-the-money options. The intrinsic value of stock options outstanding therefore changes based on changes in the fair market value of Viad’s common stock.
Acquisition of Businesses
Acquisition of Businesses
On February 19, 2013, Viad acquired the assets of Resource Creative Limited (“RCL”) for $647,000 in cash, subject to certain adjustments, plus a deferred payment of up to approximately $278,000, which is contingent upon RCL’s performance. RCL is a United Kingdom-based company specializing in providing creative graphic services to the exhibition, events and retail markets throughout the United Kingdom and continental Europe.
The final amounts assigned to the assets of RCL as of the acquisition date included: property and equipment of $72,000, goodwill of $158,000 and other intangible assets of $695,000. In addition, a liability of $278,000 was recorded as of the acquisition date related to the contingent consideration. The primary factor that contributed to a purchase price resulting in the recognition of goodwill relates to future growth opportunities. The goodwill is deductible for tax purposes over a period of 15 years. The amounts assigned to other intangible assets included: $564,000 of customer relationships and $131,000 of noncompete agreements. The weighted-average amortization period related to the other intangible assets was 4.5 years. The transaction costs related to the acquisition were insignificant. The results of operations of RCL have been included in Viad’s consolidated financial statements from the date of acquisition.
In March 2012, Viad acquired the Banff International Hotel and related assets for $23.6 million in cash. The Banff International Hotel is a 162-guest room hotel located in downtown Banff, Alberta, Canada and is operated by Brewster within the Travel & Recreation Group. The following information represents the final amounts assigned to the assets and liabilities of the Banff International Hotel as of the date of acquisition:
(in thousands)
 
Cash and cash equivalents
$
10

Accounts receivable
23

Other current assets
33

Property and equipment
20,408

Goodwill
1,890

Other intangible assets
1,323

Total assets acquired
23,687

Customer deposits
(64
)
Other current liabilities
(67
)
Total liabilities acquired
(131
)
Purchase price
$
23,556



The goodwill recorded in connection with the transaction is included in the Travel & Recreation Group. The primary factor that contributed to a purchase price resulting in the recognition of goodwill relates to future growth opportunities. The goodwill is deductible for tax purposes pursuant to regulations in Canada. The amount assigned to other intangible assets relates to an operating contract and customer relationships. The weighted-average amortization period related to the other intangible assets was 7.7 years. The transaction costs related to the acquisition were insignificant. The results of operations of the Banff International Hotel have been included in Viad’s consolidated financial statements from the date of acquisition.
In September 2011, Viad acquired the Denali Backcountry Lodge and Denali Cabins for $15.3 million in cash. Denali Backcountry Lodge is a 42-guest room lodge located within Denali National Park and Preserve in Alaska and Denali Cabins consist of 46 guest cabins near the entrance to Denali National Park and Preserve. These properties are operated by Alaska Denali Travel within the Travel & Recreation Group. The Company recorded $3.2 million of goodwill in connection with the transaction. The amount assigned to other intangible assets of $626,000 relates to customer relationships.
In June 2011, Viad acquired St. Mary Lodge (“St. Mary”) for $15.3 million in cash. St. Mary is a 115-guest room hotel located outside of Glacier National Park’s east entrance and is operated by Glacier Park within the Travel & Recreation Group. The Company recorded $3.1 million of goodwill in connection with the transaction. The amount assigned to other intangible assets of $60,000 relates to a non-amortized business license.
In January 2011, Viad acquired Grouse Mountain Lodge for $10.5 million in cash. Grouse Mountain Lodge is located in Whitefish, Montana and is operated by Glacier Park within the Travel & Recreation Group. The Company recorded $1.3 million of goodwill in connection with the transaction. The amount assigned to other intangible assets of $400,000 relates to a non-amortized business license.
The following information represents the aggregate amounts assigned to the assets and liabilities of the acquisitions that occurred during 2011:
(in thousands)
 
Cash and cash equivalents
$
30

Other current assets
870

Property and equipment
32,905

Goodwill
7,645

Other intangible assets
1,086

Total assets acquired
42,536

Customer deposits
(821
)
Other current liabilities
(198
)
Other long-term liabilities
(382
)
Total liabilities acquired
(1,401
)
Purchase price
$
41,135


The primary factor that contributed to the recognition of goodwill for the 2011 acquisitions relates to future growth opportunities. The acquired goodwill is included in the Travel & Recreation Group and is deductible for tax purposes over a period of 15 years. The transaction costs related to the acquisitions were insignificant. The results of operations of the acquisitions have been included in Viad’s consolidated financial statements from the date of each acquisition. See Note 7 for a discussion of impairment charges on goodwill.
The following table summarizes the unaudited pro forma results of operations attributable to Viad, assuming that the acquisitions above had each been completed at the beginning of each year:
(in thousands, except per share data)
2013
 
2012
 
2011
Revenue
$
973,039

 
$
1,027,107

 
$
956,570

Depreciation and amortization
28,697

 
31,131

 
30,648

Segment operating income
45,919

 
41,859

 
28,602

Income from continuing operations
20,444

 
5,269

 
10,674

Net income attributable to Viad
21,572

 
5,893

 
11,125

Diluted net income per share
1.06

 
0.29

 
0.45

Basic net income per share
1.06

 
0.29

 
0.45

Inventories
Inventories
Inventories
The components of inventories as of December 31 were as follows:
(in thousands)
2013
 
2012
Raw materials
$
14,825

 
$
16,422

Work in process
13,168

 
19,234

Inventories
$
27,993

 
$
35,656

Property and Equipment
Property and Equipment
Property and Equipment
In August 2013, Viad sold a facility and the land upon which it was situated within the Marketing & Events Group for $12.7 million (net of selling costs). Viad recorded a gain on the sale of the facility and related land of $4.8 million.
Property and equipment as of December 31 consisted of the following:
(in thousands)
2013
 
2012
Land and land interests
$
23,646

 
$
26,124

Buildings and leasehold improvements
139,889

 
137,293

Equipment and other
294,409

 
310,448

Gross property and equipment
457,944

 
473,865

Accumulated depreciation
(267,614
)
 
(276,567
)
Property and equipment, net
$
190,330

 
$
197,298


Included in the “Equipment and other” caption above are capitalized costs incurred in developing or obtaining internal use software. The net carrying amount of capitalized software was $13.9 million and $14.2 million as of December 31, 2013 and 2012, respectively.
Included in the “Land and land interests” caption above are certain leasehold interests in land within the Travel & Recreation Group for which the Company is considered to have perpetual use rights. The carrying amount of these leasehold interests was $10.0 million and $10.6 million at December 31, 2013 and 2012, respectively. These land interests are not subject to amortization.
Depreciation expense was $27.4 million, $30.0 million and $28.4 million for 2013, 2012 and 2011, respectively. During 2013, Viad recorded impairment charges of $952,000 at the Marketing & Events Group related to the write off of a touring exhibition asset and amounts capitalized for internally developed software that is not anticipated to be put into use. These impairment losses are included in the consolidated statements of operations under the caption “Other impairment charges.”
Other Investments and Assets
Other Investments and Assets
Other Investments and Assets
As of December 31 other investments and assets consisted of the following:
(in thousands)
2013
 
2012
Cash surrender value of life insurance
$
19,690

 
$
19,142

Workers’ compensation insurance security deposits
3,350

 
3,350

Other
11,986

 
9,924

Total other investments and assets
$
35,026

 
$
32,416

Goodwill and Other Intangible Assets
Goodwill and Other Intangible Assets
Goodwill and other Intangible Assets
In August 2013, Viad was notified by the Park Service that the concession contract for Glacier National Park, commencing in 2014, was awarded to another concessionaire. As a result, management revised its outlook for future revenues and earnings from Glacier Park and performed an impairment evaluation of goodwill at the Glacier Park reporting unit. Based on this evaluation, the Company recorded a non-cash impairment charge of $4.5 million representing all goodwill at the Glacier Park reporting unit, of which $892,000 related to the noncontrolling interest. The goodwill impairment loss is included in the consolidated statements of operations under the caption “Goodwill impairment charge.”
The changes in the carrying amount of goodwill were as follows:
(in thousands)
Marketing &
Events U.S.
 
Marketing &
Events
International
 
Travel &
Recreation
Group
 
Total
Balance at January 1, 2012
$
62,686

 
$
22,198

 
$
48,810

 
$
133,694

Business acquisitions
—

 
—

 
1,890

 
1,890

Foreign currency translation adjustments
—

 
856

 
1,380

 
2,236

Balance at December 31, 2012
62,686

 
23,054

 
52,080

 
137,820

Goodwill impairment charge
—

 
—

 
(4,461
)
 
(4,461
)
Business acquisition
—

 
158

 
—

 
158

Foreign currency translation adjustments
—

 
(601
)
 
(3,373
)
 
(3,974
)
Balance at December 31, 2013
$
62,686

 
$
22,611

 
$
44,246

 
$
129,543


The following table summarizes goodwill by reporting unit and segment as of December 31:
(in thousands)
2013
 
2012
Marketing & Events Group:
 
 
 
Marketing & Events U.S.
$
62,686

 
$
62,686

Marketing & Events International:
 
 
 
GES United Kingdom
14,049

 
13,894

GES Canada
8,562

 
9,160

Total Marketing & Events Group
85,297

 
85,740

Travel & Recreation Group:
 
 
 
Brewster
41,062

 
44,435

Alaska Denali Travel
3,184

 
3,184

Glacier Park
—

 
4,461

Total Travel & Recreation Group
44,246

 
52,080

Total Goodwill
$
129,543

 
$
137,820


For impairment testing purposes, the goodwill related to the Marketing & Events U.S. segment is assigned to and tested at the operating segment level. Furthermore, the goodwill related to the Marketing & Events International segment is assigned to and tested based on the segment’s geographical operations. For the Marketing & Events International segment the reporting units are GES United Kingdom and GES Canada. Brewster, Glacier Park and Alaska Denali Travel are considered reporting units for goodwill impairment testing purposes within the Travel & Recreation Group.
As a result of the Company’s most recent analysis performed in October 2013, the excess of the estimated fair values over the carrying values (expressed as a percentage of the carrying amounts) under step one of the impairment test was 139 percent, 58 percent and 59 percent for each of the Marketing & Events Group reporting units in the United States, the United Kingdom and Canada, respectively. For the Brewster and Alaska Denali Travel reporting units, the excess of the estimated fair value over the carrying value was 54 percent and 15 percent, respectively, as of the most recent impairment test. Significant reductions in the Company’s expected future revenues, operating income or cash flow forecasts and projections, or an increase in reporting unit cost of capital, could trigger additional impairment testing, which may result in impairment charges.
As of December 31, 2013, Viad had cumulative goodwill impairment charges of $229.7 million since the adoption of the goodwill impairment testing provisions of ASC Topic 350.
A summary of other intangible assets as of December 31, 2013 is presented below:
(in thousands)
Gross Carrying
Value
 
Accumulated
Amortization
 
Net Carrying
Value
Amortized intangible assets:
 
 
 
 
 
Customer contracts and relationships
$
5,537

 
$
(2,521
)
 
$
3,016

Other
1,280

 
(276
)
 
1,004

Total amortized intangible assets
6,817

 
(2,797
)
 
4,020

Unamortized intangible assets:
 
 
 
 
 
Business licenses
460

 
—

 
460

Total
$
7,277

 
$
(2,797
)
 
$
4,480


A summary of other intangible assets as of December 31, 2012 is presented below:
(in thousands)
Gross Carrying
Value
 
Accumulated
Amortization
 
Net Carrying
Value
Amortized intangible assets:
 
 
 
 
 
Customer contracts and relationships
$
3,594

 
$
(2,384
)
 
$
1,210

Other
959

 
(108
)
 
851

Total amortized intangible assets
4,553

 
(2,492
)
 
2,061

Unamortized intangible assets:
 
 
 
 
 
Business licenses
460

 
—

 
460

Total
$
5,013

 
$
(2,492
)
 
$
2,521


Intangible asset amortization expense for 2013, 2012 and 2011 was $1.3 million, $693,000 and $772,000, respectively. The weighted-average amortization period of customer contracts and relationships and other amortizable intangible assets is approximately 5.2 years and 1.8 years, respectively. Estimated amortization expense related to amortized intangible assets for future years is expected to be as follows:
(in thousands)
 
2014
$
996

2015
$
795

2016
$
671

2017
$
553

2018
$
442

Thereafter
$
563

Accrued Liabilities and Other
Accrued Liabilities and Other
As of December 31 other current liabilities consisted of the following:
(in thousands)
2013
 
2012
Continuing operations:
 
 
 
Customer deposits
$
29,207

 
$
50,172

Accrued compensation
15,113

 
25,067

Self-insured liability accrual
7,603

 
8,501

Accrued restructuring
3,877

 
4,084

Accrued employee benefit costs
2,751

 
3,132

Accrued dividends
2,192

 
2,053

Accrued sales and use taxes
1,609

 
3,179

Accrued foreign income taxes
565

 
28

Other
9,573

 
9,998

Total continuing operations
72,490

 
106,214

Discontinued operations:
 
 
 
Self-insured liability accrual
469

 
527

Environmental remediation liabilities
353

 
571

Other
177

 
372

Total discontinued operations
999

 
1,470

Total other current liabilities
$
73,489

 
$
107,684


As of December 31 other deferred items and liabilities consisted of the following:
(in thousands)
2013
 
2012
Continuing operations:
 
 
 
Self-insured liability accrual
$
17,316

 
$
15,579

Accrued compensation
8,349

 
8,061

Foreign deferred tax liability
1,989

 
2,024

Accrued restructuring
1,919

 
3,140

Other
7,552

 
6,734

Total continuing operations
37,125

 
35,538

Discontinued operations:
 
 
 
Environmental remediation liabilities
4,666

 
4,745

Self-insured liability accrual
4,489

 
5,188

Accrued income taxes
1,085

 
1,053

Other
1,254

 
1,304

Total discontinued operations
11,494

 
12,290

Total other deferred items and liabilities
$
48,619

 
$
47,828

Debt
Debt
Long-term debt as of December 31 was as follows:
(in thousands, except interest rates)
2013
 
2012
Revolving credit agreement, 2.2% (2013) weighted-average interest rate at December 31, 2013

$
10,000

 
$
—

Capital lease obligations, 6.9% (2013) and 6.4% (2012) weighted-average interest rate at December 31, due to 2017
1,668

 
2,226

Total debt
11,668

 
2,226

Current portion
(10,903
)
 
(1,347
)
Long-term capital lease obligations
$
765

 
$
879


In May 2011, Viad entered into an amended and restated revolving credit agreement (the “Credit Facility”). The Credit Facility provides for a $130 million revolving line of credit, which may be increased up to an additional $50 million under certain circumstances. The term of the Credit Facility is five years (expiring on May 18, 2016) and borrowings are to be used for general corporate purposes (including permitted acquisitions) and to support up to $50 million of letters of credit. The lenders have a first perfected security interest in all of the personal property of Viad and GES, including 65 percent of the capital stock of top-tier foreign subsidiaries. As of December 31, 2013, Viad’s total debt of $11.7 million consisted of a $10 million revolver borrowing on the Credit Facility and $1.7 million of capital lease obligations. As of December 31, 2013, Viad had $118.7 million of capacity remaining under its Credit Facility reflecting outstanding letters of credit of $1.3 million and the outstanding balance under the Credit Facility of $10 million.
Borrowings under the Credit Facility (of which GES is a guarantor) are indexed to the prime rate or the London Interbank Offered Rate, plus appropriate spreads tied to Viad’s leverage ratio. Commitment fees and letters of credit fees are also tied to Viad’s leverage ratio. The fees on the unused portion of the Credit Facility are currently 0.35 percent annually.
The Credit Facility contains various affirmative and negative covenants that are customary for facilities of this type, including a fixed-charge coverage ratio, leverage ratio and dividend and share repurchase limits. Significant other covenants include limitations on: investments, additional indebtedness, sales/leases of assets, acquisitions, consolidations or mergers and liens on property. As of December 31, 2013, Viad was in compliance with all covenants.
In December 2012, the Credit Facility was amended to remove the limitation on share repurchases of $10 million in the aggregate per calendar year pursuant to certain conditions. The amendment allows share repurchases unless the Company’s leverage ratio, as defined in the Credit Facility, is greater than 1.50 to 1.00 or a default or an unmatured default, as defined in the Credit Facility, exists. The amendment also allows dividends to be declared and paid in excess of $10 million in the aggregate per calendar year, as well as distributions on its capital stock, as defined in the Credit Facility, unless the Company’s leverage ratio, as defined in the Credit Facility, is greater than 1.50 to 1.00 or a default or an unmatured default, as defined in the Credit Facility, exists.
Effective November 14, 2013, the Credit Facility was amended to remove the liquidity covenant that required Viad to maintain at all times not less than $50 million of unrestricted cash and cash equivalent investments, as that term is defined in the Credit Facility. With the amendment, the Credit Facility no longer requires any minimum amount of unrestricted cash and cash equivalent investments.
As of December 31, 2013, Viad had certain obligations under guarantees to third parties on behalf of its subsidiaries. These guarantees are not subject to liability recognition in the consolidated financial statements and relate to leased facilities entered into by the Company’s subsidiary operations. The Company 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 Viad would be required to make under all guarantees existing as of December 31, 2013 would be $13.7 million. These guarantees relate to leased facilities and expire through October 2017. There are no recourse provisions that would enable Viad to recover from third parties any payments made under the guarantees. Furthermore, there are no collateral or similar arrangements whereby Viad could recover payments.
Aggregate annual maturities of long-term debt and capital lease obligations as of December 31, 2013 are as follows:
(in thousands)
Revolving Credit Agreement
 
Capital Lease Obligations
2014
$
10,000

 
$
984

2015
—

 
609

2016
—

 
186

2017
—

 
32

2018
—

 
2

Total
$
10,000

 
1,813

Less: Amount representing interest
 
 
(145
)
Present value of minimum lease payments
 
 
$
1,668


The gross amount of assets recorded under capital leases as of December 31, 2013 was $3.9 million and accumulated amortization was $2.1 million. As of December 31, 2012, the gross amount of assets recorded under capital leases and accumulated amortization was $5.9 million and $2.9 million, respectively. The amortization charges related to assets recorded under capital leases are included in depreciation expense. See Note 5.
The weighted-average interest rate on total debt was 4.2 percent, 8.5 percent and 7.8 percent for 2013, 2012 and 2011, respectively. The estimated fair value of total debt was $11.5 million and $2.1 million as of December 31, 2013 and 2012, respectively. The fair value of debt was estimated by discounting the future cash flows using rates currently available for debt of similar terms and maturity.
Fair Value Measurements
Fair Value Measurements
The fair value of an asset or liability is defined as the price that would be received to sell an asset or paid 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.
Viad measures its money market mutual funds and certain other mutual fund investments 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)
December 31, 2013
 
Quoted Prices in
Active
Markets
(Level 1)
 
Significant
Other
Observable
Inputs
(Level 2)
 
Significant
Unobserved
Inputs
(Level 3)
Assets:
 
 
 
 
 
 
 
Money market funds
$
118

 
$
118

 
$
—

 
$
—

Other mutual funds
2,023

 
2,023

 
—

 
—

Total assets at fair value on a recurring basis
$
2,141

 
$
2,141

 
$
—

 
$
—

 
 
 
Fair Value Measurements at Reporting Date Using
(in thousands)
December 31, 2012
 
Quoted Prices
in Active
Markets
(Level 1)
 
Significant
Other
Observable
Inputs
(Level 2)
 
Significant
Unobserved
Inputs
(Level 3)
Assets:
 
 
 
 
 
 
 
Money market funds
$
10,177

 
$
10,177

 
$
—

 
$
—

Other mutual funds
1,239

 
1,239

 
—

 
—

Total assets at fair value on a recurring basis
$
11,416

 
$
11,416

 
$
—

 
$
—


As of December 31, 2013 and 2012, Viad had investments in money market mutual funds of $118,000 and $10.2 million, respectively, which are included in the consolidated balance sheets under the caption “Cash and cash equivalents.” These investments are classified as available-for-sale and were recorded at fair value. There have been no realized or unrealized gains or losses related to these investments and the Company has not experienced any redemption restrictions with respect to any of the money market mutual funds.
As of December 31, 2013 and 2012, Viad had investments in other mutual funds of $2.0 million and $1.2 million, respectively, which are classified in the consolidated balance sheets under the caption “Other investments and assets.” These investments were classified as available-for-sale and were recorded at fair value. As of December 31, 2013 and 2012, there were unrealized gains of $700,000 ($429,000 after-tax) and $450,000 ($275,000 after-tax), respectively, which were included in the consolidated balance sheets under the caption “Accumulated other comprehensive income (loss).”
The carrying values of cash and cash equivalents, receivables and accounts payable approximate fair value due to the short-term maturities of these instruments. The estimated fair value of debt obligations is disclosed in Note 9.
During 2013, Viad had certain non-financial assets that were measured at fair value on a non-recurring basis using Level 3 inputs. These assets include goodwill and certain property and equipment for which impairment losses were recorded during 2013. The fair value information related to these assets is summarized in the following table:
 
 
 
Fair Value Measurements at Reporting Date Using
 
 
(in thousands)
December 31, 2013
 
Quoted Prices in
Active
Markets
(Level 1)
 
Significant
Other
Observable
Inputs
(Level 2)
 
Significant
Unobserved
Inputs
(Level 3)
 
Total Gains (Losses)
Assets:
 
 
 
 
 
 
 
 
 
Goodwill (1)
$
—

 
$
—

 
$
—

 
$
—

 
$
(4,461
)
Property and equipment(1)
—

 
—

 
—

 
—

 
(952
)
Total assets at fair value on a non-recurring basis
$
—

 
$
—

 
$
—

 
$
—

 
$
(5,413
)
(1) See Notes 5 and 7 for details of the impairment charges.
Income Per Share
Income Per Share
Income Per Share
The following are the components of basic and diluted income per share:
(in thousands, except per share data)
2013
 
2012
 
2011
Net income attributable to Viad (diluted)
$
21,555

 
$
5,897

 
$
9,210

Less: Allocation to non-vested shares
(485
)
 
(157
)
 
(248
)
Net income allocated to Viad common stockholders (basic)
$
21,070

 
$
5,740

 
$
8,962

Basic weighted-average outstanding common shares
19,850

 
19,701

 
19,719

Additional dilutive shares related to share-based compensation
415

 
304

 
336

Diluted weighted-average outstanding shares
20,265

 
20,005

 
20,055

Income per share:
 
 
 
 
 
Basic income attributable to Viad common stockholders
$
1.06

 
$
0.29

 
$
0.45

Diluted income attributable to Viad common stockholders(1)
$
1.06

 
$
0.29

 
$
0.45

(1) Diluted income per share amount cannot exceed basic income per share.
Options to purchase 47,000, 110,000 and 304,000 shares of common stock were outstanding during 2013, 2012 and 2011, respectively, but were not included in the computation of dilutive shares outstanding because the effect would be anti-dilutive. Additionally, 415,000, 304,000 and 336,000 share-based compensation awards were considered dilutive and included in the computation of diluted income per share in 2013, 2012 and 2011, respectively.
Employee Stock Ownership Feature of 401Plan
Employee Stock Ownership Feature of 401(k) Plan
Employee Stock Ownership Feature of 401(k) Plan
Viad funds its matching contributions to employees’ 401(k) accounts through the Company’s ESOP portion of the Viad Corp Capital Accumulation Plan (the “401(k) Plan”). All eligible employees of Viad and its participating affiliates, other than certain employees covered by collective-bargaining agreements that do not expressly provide for participation of such employees in an employee stock ownership plan, may participate in the employee stock ownership feature within the 401(k) Plan.
In 1989, the ESOP borrowed $40.0 million (guaranteed by Viad) to purchase treasury shares from the Company. In 2004, Viad borrowed $12.2 million under its revolving credit agreement to pay in full the outstanding ESOP loan and obtain release of Viad from its guarantee of the loan. In connection with the loan payoff, the ESOP entered into a $12.4 million loan with Viad maturing in June 2009 calling for minimum quarterly principal payments of $250,000 plus interest. The same amount, representing unearned employee benefits, was recorded as a reduction of stockholders’ equity. In 2007, the loan agreement between the ESOP and Viad was extended to December 31, 2016. As of December 31, 2013, the balance of the ESOP loan was $44,000 and is included in the consolidated balance sheets under the caption “Unearned employee benefits and other.” The liability is reduced as the ESOP makes principal payments on the borrowing, and the amount offsetting stockholders’ equity is reduced as stock is allocated to employees and benefits are charged to expense. The 401(k) Plan repays the loan using Viad contributions and dividends received on the unallocated Viad shares held by the 401(k) Plan.
Information regarding ESOP transactions is as follows:
(in thousands)
2013
 
2012
 
2011
Amounts paid by ESOP for:
 
 
 
 
 
Debt repayment
$
1,280

 
$
1,647

 
$
1,490

Interest
1

 
5

 
8

Amounts received from Viad as:
 
 
 
 
 
Contributions
1,202

 
1,604

 
1,435

Dividends
79

 
48

 
63


Shares were released for allocation to participants based upon the ratio of the current year’s principal and interest payments to the sum of the total principal and interest payments expected over the remaining life of the loan. Viad recorded expense of $1.3 million, $1.7 million and $1.6 million in 2013, 2012 and 2011, respectively.
Unallocated shares held by the 401(k) Plan totaled 4,361 and 130,577 as of December 31, 2013 and 2012, respectively. Shares allocated during 2013 and 2012 totaled 126,216 and 162,703, respectively. In January 2014, the 4,361 shares remaining in the ESOP as of December 31, 2013 had been fully exhausted. Future matching contributions on employee deferrals will be made from shares held in treasury.
Preferred Stock Purchase Rights
Preferred Stock Purchase Rights
Preferred Stock Purchase Rights
Viad has authorized five million and two million shares of Preferred Stock and Junior Participating Preferred Stock, respectively, none of which was outstanding on December 31, 2013.
On February 28, 2013, Viad’s shareholder rights plan (the “Rights Agreement”), as adjusted in connection with Viad’s one-for-four reverse stock split on July 1, 2004 and as amended on February 28, 2012, terminated on its own terms and the Preferred Stock Purchase Rights issued pursuant to the Rights Agreement expired.
Accumulated Other Comprehensive Income (Notes)
Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income
Changes in accumulated other comprehensive income (“AOCI”) by component were as follows:
(in thousands)
 
Unrealized Gains on Investments
 
Cumulative Foreign Currency Translation Adjustments
 
Unrecognized Net Actuarial Loss and Service Credit
 
Accumulated Other Comprehensive Income
Balance at January 1, 2013
 
$
275

 
$
42,158

 
$
(14,968
)
 
$
27,465

Other comprehensive income before reclassifications
 
215

 
(11,311
)
 
3,421

 
(7,675
)
Amounts reclassified from AOCI, net of tax
 
(61
)
 
—

 
288

 
227

Net other comprehensive income (loss)
 
154

 
(11,311
)
 
3,709

 
(7,448
)
Balance at December 31, 2013
 
$
429

 
$
30,847

 
$
(11,259
)
 
$
20,017


The following table presents information about reclassification adjustments out of AOCI:
(in thousands)
 
2013
 
2012
 
Affected Line Item in the Statement Where Net Income is Presented
Unrealized gains on investments
 
$
99

 
$
92

 
Interest income
Tax effect
 
(38
)
 
(35
)
 
Income taxes
 
 
$
61

 
$
57

 
Net of tax
 
 
 
 
 
 
 
Recognized net actuarial loss
 
$
(1,349
)
 
$
(1,239
)
 
See Note 16
Amortization of prior service credit
 
902

 
1,113

 
See Note 16
Tax effect
 
159

 
42

 
Income taxes
 
 
$
(288
)
 
$
(84
)
 
Net of tax
Income Taxes
Income Taxes

The following represents a reconciliation of income tax expense and the amount that would be computed using the statutory federal income tax rates:
(in thousands)
2013
 
2012
 
2011
Computed income tax expense at statutory federal income tax rate of 35%
$
10,201

 
35.0
 %
 
$
9,381

 
35.0
 %
 
$
4,613

 
35.0
 %
State income taxes, net of federal provision
345

 
1.2
 %
 
470

 
1.8
 %
 
(100
)
 
(0.8
)%
Foreign tax rate differentials
77

 
0.3
 %
 
(2,031
)
 
(7.6
)%
 
(1,679
)
 
(12.7
)%
U.S. tax on foreign earnings (net of foreign tax credits)
(1,831
)
 
(6.3
)%
 
(595
)
 
(2.2
)%
 
1,105

 
8.4
 %
Tax resolutions, net
—

 
—
 %
 
—

 
—
 %
 
(103
)
 
(0.8
)%
Change in valuation allowance
(2,184
)
 
(7.5
)%
 
14,220

 
53.1
 %
 
(55
)
 
(0.4
)%
Proceeds from life insurance
(196
)
 
(0.7
)%
 
(472
)
 
(1.8
)%
 
—

 
—
 %
Return to provision and other adjustments
1,664

 
5.7
 %
 
(371
)
 
(1.4
)%
 
(43
)
 
(0.3
)%
Other, net
514

 
1.8
 %
 
241

 
0.9
 %
 
150

 
1.1
 %
Income tax expense
$
8,590

 
29.5
 %
 
$
20,843

 
77.8
 %
 
$
3,888

 
29.5
 %

Viad is subject to regular and recurring audits by the taxing authorities in the jurisdictions in which the Company conducts or had previously conducted operations. These include U.S. federal and most state jurisdictions, and certain foreign jurisdictions including Canada, the United Kingdom and Germany.
Viad exercises judgment in determining its income tax provision due to transactions, credits and calculations where the ultimate tax determination is uncertain. As of December 31, 2013, the Company recognized an increase in the liability for uncertain tax positions for continuing operations of approximately $736,000 as there were no accrued gross liabilities associated with uncertain tax positions as of December 31, 2012. As of December 31, 2013, Viad had accrued interest and penalties related to uncertain tax positions for continuing operations of $20,000. Viad classifies interest and penalties related to income tax liabilities as a component of income tax expense. The tax expense impact of the uncertain tax positions was $200,000 due to tax credit carryforwards that were available to offset the expense. The Company believes that it is reasonably possible that approximately $293,000 of its uncertain tax positions could be resolved or settled within the next twelve months, which would reduce the amount of accrued income taxes payable.
During 2011, Viad recorded tax benefits related to the favorable resolution of tax matters in continuing operations of $103,000. These tax resolutions primarily represent the reversal of amounts accrued for tax and related interest and penalties in connection with uncertain tax positions which were effectively settled or for which there was a lapse of the applicable statute of limitations.
In addition to the above, Viad had accrued gross liabilities associated with uncertain tax positions for discontinued operations of $636,000 as of both December 31, 2013 and 2012. In addition, as of December 31, 2013 and 2012, Viad had accrued interest and penalties related to uncertain tax positions for discontinued operations of $450,000 and $418,000, respectively. Future tax resolutions or settlements that may occur related to these uncertain tax positions would be recorded through discontinued operations (net of federal tax effects, if applicable). Viad believes that it is reasonably possible that the unrecognized tax benefits related to discontinued operations will be recognized or settled during the next 12 months as the statute of limitations related to this item will lapse on December 31, 2014.
The following represents a reconciliation of the total amounts of liabilities associated with uncertain tax positions (excluding interest and penalties):
(in thousands)
Continuing
Operations
 
Discontinued
Operations
 
Total
Balance, January 1, 2011
$
—

 
$
636

 
$
636

Reductions for tax positions taken in prior years
—

 
—

 
—

Reductions for tax settlements
—

 
—

 
—

Reductions for lapse of applicable statutes
—

 
—

 
—

Balance at December 31, 2011
—

 
636

 
636

Reductions for tax positions taken in prior years
—

 
—

 
—

Reductions for tax settlements
—

 
—

 
—

Reductions for lapse of applicable statutes
—

 
—

 
—

Balance at December 31, 2012
—

 
636

 
636

Additions for tax positions taken in prior years
736

 
—

 
736

Reductions for tax positions taken in prior years
—

 
—

 
—

Reductions for tax settlements
—

 
—

 
—

Reductions for lapse of applicable statutes
—

 
—

 
—

Balance at December 31, 2013
$
736

 
$
636

 
$
1,372


Viad’s 2010 through 2013 U.S. federal tax years and various state tax years from 2009 through 2013 remain subject to income tax examinations by tax authorities. Additionally, 2005, 2006, 2008 and 2009 remain subject to examination due to federal net operating loss carryback claims. In addition, tax years from 2010 through 2013 related to Viad’s foreign taxing jurisdictions also remain subject to examination.
Viad classifies liabilities associated with uncertain tax positions as non-current liabilities in its consolidated balance sheets unless they are expected to be paid within the next year. As of December 31, 2013 and 2012, the Company had liabilities associated with uncertain tax positions (including interest and penalties) of $1.8 million and $1.1 million, respectively, which were classified as non-current liabilities.
Deferred income tax assets and liabilities included in the consolidated balance sheets as of December 31 related to the following: 
(in thousands)
2013
 
2012
Deferred tax assets:
 
 
 
Tax credit carryforwards
$
26,945

 
$
25,290

Pension, compensation and other employee benefits
23,835

 
31,782

Provisions for losses
13,674

 
15,229

Net operating loss carryforward
4,794

 
1,755

State income taxes
2,170

 
2,813

Other deferred income tax assets
5,552

 
5,331

Total deferred tax assets
76,970

 
82,200

Valuation allowance
(12,393
)
 
(14,576
)
Foreign deferred tax assets included above
(1,713
)
 
(990
)
Net deferred tax assets
62,864

 
66,634

Deferred tax liabilities:
 
 
 
Property and equipment
(7,861
)
 
(8,801
)
Deferred tax related to life insurance
(4,842
)
 
(4,992
)
Goodwill and other intangible assets
(959
)
 
(1,306
)
Unremitted foreign earnings
(398
)
 
(978
)
Other deferred income tax liabilities
(393
)
 
(176
)
Total deferred tax liabilities
(14,453
)
 
(16,253
)
Foreign deferred tax liabilities included above
1,989

 
2,024

United States deferred tax assets
$
50,400

 
$
52,405



Viad is required to estimate and record provisions for income taxes in each of the jurisdictions in which the Company operates. Accordingly, the Company must estimate its actual current income tax liability, and assess temporary differences arising from the treatment of items for tax purposes, as compared to the treatment for accounting purposes. These differences result in deferred tax assets and liabilities which are included in Viad’s consolidated balance sheets. The Company must assess the likelihood that deferred tax assets will be recovered from future taxable income and to the extent that recovery is not likely, a valuation allowance must be established. The Company uses significant judgment in forming a conclusion regarding the recoverability of its deferred tax assets and evaluates the available positive and negative evidence to determine whether it is more-likely-than-not that its deferred tax assets will be realized in the future. As of December 31, 2013 and 2012, Viad had gross deferred tax assets of $77.0 million and $82.2 million, respectively. These deferred tax assets reflect the expected future tax benefits to be realized upon reversal of deductible temporary differences, and the utilization of net operating loss and tax credit carryforwards.
The Company considered all available positive and negative evidence regarding the future recoverability of its deferred tax assets, including the Company’s recent operating history, taxpaying history and future reversals of deferred tax liabilities. The Company also evaluated its ability to utilize its foreign tax credits, given its recent utilization history. These tax credits are subject to a 10-year carryforward period and begin to expire in 2019. Based on the Company’s assessment, it was determined during the fourth quarter of 2012 that the weight of the evidence indicated that certain deferred tax assets associated with foreign tax credit carryforwards no longer met the more-likely-than-not test regarding the realization of those assets. As a result, the Company recorded a valuation allowance of $13.4 million related to all of its foreign tax credit carryforwards. During 2013, the Company generated additional foreign tax credit carryforwards of $1.9 million for which an additional valuation allowance was recorded. However, the Company also determined, due to the taxable income associated with the Glacier Park possessory interest the Company received in the first quarter of 2014, it was more-likely-than-not that a portion of its previously existing foreign tax credit carryforwards would be utilized. Therefore, during the fourth quarter of 2013, the Company reversed $4.1 million of its valuation allowance related to those tax credits. Accordingly, the Company recorded a net decrease to income tax expense of $2.2 million and a decrease of $300,000 to deferred tax assets for a total decrease to income tax expense of $2.5 million related to changes in the valuation allowance associated with its foreign tax credit carryforwards. As of December 31, 2013 and 2012, Viad had federal, state and foreign net operating loss carryforwards of $96.0 million and $82.0 million, respectively, for which the Company had deferred tax assets of $4.8 million and $1.8 million, respectively. The state and foreign net operating loss carryforwards expire on various dates from 2014 through 2033. During 2013, the Company increased its valuation allowance related to state and foreign net operating loss carryforwards by $329,000. As of December 31, 2013 and 2012, Viad had a valuation allowance of $1.5 million and $1.2 million, respectively, related to those state and foreign deferred tax assets. With respect to all other deferred tax assets, management believes that recovery from future taxable income is more-likely-than-not.
As noted above, Viad uses considerable judgment in forming a conclusion regarding the recoverability of its deferred tax assets. As a result, there are inherent uncertainties regarding the ultimate realization of these assets, which is primarily dependent on Viad’s ability to generate sufficient taxable income in future periods. In future periods, it is reasonably possible that the relative weight of positive and negative evidence regarding the recoverability of Viad’s deferred tax assets may change, which could result in a material increase or decrease in the Company’s valuation allowance. If such a change in the valuation allowance were to occur, it would result in a material increase or decrease to income tax expense in the period the assessment was made.
As of December 31, 2013, Viad had tax credit carryforwards related to alternative minimum tax of $11.3 million that may be carried forward indefinitely. Additionally, as of December 31, 2013, Viad had foreign tax credit carryforwards of $15.0 million, of which $222,000 expire in 2019, $8.3 million expire in 2020, $4.4 million expire in 2021 and $2.1 million expire in 2033. The Company has a valuation allowance of $10.9 million related to the foreign tax credit carryforwards. Viad also had general business credits of $622,000 as of December 31, 2013, which expire at various dates from 2028 to 2033.
Viad has not recorded deferred taxes on certain historical unremitted earnings of its Canadian subsidiaries as management intends to reinvest those earnings in its Canadian operations. As of December 31, 2013, the incremental unrecognized tax liability (net of estimated foreign tax credits) related to those undistributed earnings was approximately $1.0 million. To the extent that circumstances change and it becomes apparent that some or all of those undistributed earnings will be remitted to the U.S., Viad would accrue income taxes attributable to such remittance.
Income tax expense consisted of the following:
(in thousands)
2013
 
2012
 
2011
Current:
 
 
 
 
 
United States:
 
 
 
 
 
Federal
$
(2,134
)
 
$
(272
)
 
$
(4,643
)
State
(286
)
 
2,189

 
1,292

Foreign
9,606

 
7,652

 
8,163

Total current
7,186

 
9,569

 
4,812

Deferred:
 
 
 
 
 
United States:
 
 
 
 
 
Federal
1,113

 
11,127

 
992

State
651

 
40

 
(1,560
)
Foreign
(360
)
 
107

 
(356
)
Total deferred
1,404

 
11,274

 
(924
)
Income tax expense
$
8,590

 
$
20,843

 
$
3,888



The aggregate tax benefit realized in connection with the vesting of restricted stock and the exercise of stock options was $404,000 for 2013, which was recorded as a credit to stockholders’ equity. During 2012 and 2011, the Company recorded tax deficiencies of $96,000 and $325,000, respectively, related to the vesting of restricted stock and the exercise of stock options, which were recorded as charges to stockholders’ equity.
Eligible subsidiaries (including sold and discontinued businesses up to their respective disposition dates) are included in the consolidated federal and other applicable income tax returns of Viad.
United States and foreign income from continuing operations before income taxes was as follows:
(in thousands)
2013
 
2012
 
2011
Foreign
$
25,010

 
$
29,645

 
$
29,407

United States
4,138

 
(2,843
)
 
(16,227
)
Income from continuing operations before income taxes
$
29,148

 
$
26,802

 
$
13,180

Pension and Postretirement Benefits
Pension and Postretirement Benefits
Domestic Plans. Viad has trusteed, frozen defined benefit pension plans that cover certain employees which are funded by the Company. Viad also maintains certain unfunded defined benefit pension plans which provide supplemental benefits to select management employees. These plans use traditional defined benefit formulas based on years of service and final average compensation. Funding policies provide that payments to defined benefit pension trusts shall be at least equal to the minimum funding required by applicable regulations.
Viad also has certain defined benefit postretirement plans that provide medical and life insurance for certain eligible employees, retirees and dependents. The related postretirement benefit liabilities are recognized over the period that services are provided by employees. In addition, Viad retained the obligations for these benefits for retirees of certain sold businesses. While the plans have no funding requirements, Viad may fund the plans.
The components of net periodic benefit cost and other amounts recognized in other comprehensive income of Viad’s pension plans included the following:
(in thousands)
2013
 
2012
 
2011
Net periodic benefit cost:
 
 
 
 
 
Service cost
$
66

 
$
104

 
$
121

Interest cost
1,030

 
1,150

 
1,189

Expected return on plan assets
(400
)
 
(406
)
 
(563
)
Recognized net actuarial loss
583

 
491

 
457

Net periodic benefit cost
1,279

 
1,339

 
1,204

Other changes in plan assets and benefit obligations recognized in other comprehensive income:
 
 
 
 
 
Net actuarial loss (gain)
(2,565
)
 
1,942

 
1,589

Reversal of amortization item:
 
 
 
 
 
Net actuarial loss
(583
)
 
(491
)
 
(457
)
Total recognized in other comprehensive income (loss)
(3,148
)
 
1,451

 
1,132

Total recognized in net periodic benefit cost and other comprehensive income (loss)
$
(1,869
)
 
$
2,790

 
$
2,336


The components of net periodic benefit cost and other amounts recognized in other comprehensive income of Viad’s postretirement benefit plans included the following:
(in thousands)
2013
 
2012
 
2011
Net periodic benefit cost:
 
 
 
 
 
Service cost
$
156

 
$
146

 
$
128

Interest cost
663

 
814

 
868

Expected return on plan assets
—

 
(74
)
 
(135
)
Amortization of prior service credit
(902
)
 
(1,113
)
 
(1,277
)
Recognized net actuarial loss
518

 
547

 
533

Net periodic benefit cost
435

 
320

 
117

Other changes in plan assets and benefit obligations recognized in other comprehensive income:
 
 
 
 
 
Net actuarial loss (gain)
(1,496
)
 
224

 
24

Prior service credit
(40
)
 
—

 
—

Reversal of amortization item:
 
 
 
 
 
Net actuarial loss
(518
)
 
(547
)
 
(533
)
Prior service credit
902

 
1,113

 
1,277

Total recognized in other comprehensive income (loss)
(1,152
)
 
790

 
768

Total recognized in net periodic benefit cost and other comprehensive income (loss)
$
(717
)
 
$
1,110

 
$
885


The following table indicates the funded status of the plans as of December 31:
 
 
 
 
 
 
 
 
 
Postretirement
Benefit Plans
 
Funded Plans
 
Unfunded Plans
 
(in thousands)
2013
 
2012
 
2013
 
2012
 
2013
 
2012
Change in benefit obligation:
 
 
 
 
 
 
 
 
 
 
 
Benefit obligation at beginning of year
$
15,348

 
$
13,938

 
$
11,570

 
$
10,883

 
$
18,701

 
$
18,667

Service cost
—

 
—

 
66

 
104

 
156

 
146

Interest cost
608

 
659

 
422

 
491

 
663

 
814

Actuarial adjustments
(1,530
)
 
1,419

 
(856
)
 
799

 
(1,631
)
 
250

Plan amendments
—

 
—

 
—

 
—

 
(40
)
 
—

Benefits paid
(991
)
 
(668
)
 
(666
)
 
(707
)
 
(930
)
 
(1,176
)
Benefit obligation at end of year
13,435

 
15,348

 
10,536

 
11,570

 
16,919

 
18,701

Change in plan assets:
 
 
 
 
 
 
 
 
 
 
 
Fair value of plan assets at beginning of year
10,624

 
9,846

 
—

 
—

 
1,397

 
2,118

Actual return on plan assets
580

 
683

 
—

 
—

 
(135
)
 
100

Company contributions
659

 
763

 
666

 
707

 
188

 
355

Benefits paid
(991
)
 
(668
)
 
(666
)
 
(707
)
 
(930
)
 
(1,176
)
Fair value of plan assets at end of year
10,872

 
10,624

 
—

 
—

 
520

 
1,397

Funded status at end of year
$
(2,563
)
 
$
(4,724
)
 
$
(10,536
)
 
$
(11,570
)
 
$
(16,399
)
 
$
(17,304
)

The net amounts recognized in Viad’s consolidated balance sheets under the caption “Pension and postretirement benefits” as of December 31 were as follows:
 
 
 
 
 
 
 
 
 
Postretirement
Benefit Plans
 
Funded Plans
 
Unfunded Plans
 
(in thousands)
2013
 
2012
 
2013
 
2012
 
2013
 
2012
Other current liabilities
$
—

 
$
—

 
$
713

 
$
816

 
$
928

 
$
392

Non-current liabilities
2,563

 
4,724

 
9,823

 
10,754

 
15,471

 
16,912

Net amount recognized
$
2,563

 
$
4,724

 
$
10,536

 
$
11,570

 
$
16,399

 
$
17,304



Amounts recognized in accumulated other comprehensive income as of December 31, 2013 consisted of:
(in thousands)
Funded
Plans
 
Unfunded
Plans
 
Postretirement
Benefit Plans
 
Total
Net actuarial loss
$
6,972

 
$
3,480

 
$
4,692

 
$
15,144

Prior service credit
—

 
—

 
(2,038
)
 
(2,038
)
Subtotal
6,972

 
3,480

 
2,654

 
13,106

Less tax effect
(2,644
)
 
(1,320
)
 
(1,006
)
 
(4,970
)
Total
$
4,328

 
$
2,160

 
$
1,648

 
$
8,136

Amounts recognized in accumulated other comprehensive income as of December 31, 2012 consisted of:
(in thousands)
Funded
Plans
 
Unfunded
Plans
 
Postretirement
Benefit Plans
 
Total
Net actuarial loss
$
9,052

 
$
4,548

 
$
6,706

 
$
20,306

Prior service credit
—

 
—

 
(2,900
)
 
(2,900
)
Subtotal
9,052

 
4,548

 
3,806

 
17,406

Less tax effect
(3,433
)
 
(1,725
)
 
(1,443
)
 
(6,601
)
Total
$
5,619

 
$
2,823

 
$
2,363

 
$
10,805


The estimated net actuarial loss for the pension plans that is expected to be amortized from accumulated other comprehensive income into net periodic pension cost in 2014 is approximately $416,000. The estimated net actuarial loss for the postretirement benefit plans that is expected to be amortized from accumulated other comprehensive income into net periodic benefit cost in 2014 is approximately $405,000. The estimated prior service credit for the postretirement benefit plans that is expected to be amortized from accumulated other comprehensive income into net periodic benefit credit in 2014 is approximately $592,000.
The fair value of the domestic plans’ assets by asset class was as follows:
 
 
 
Fair Value Measurements at December 31, 2013
 
 
 
Quoted Prices
in Active
Markets
 
Significant
Other
Observable
Inputs
 
Significant
Unobserved
Inputs
(in thousands)
Total
 
(Level 1)
 
(Level 2)
 
(Level 3)
Domestic pension plans:
 
 
 
 
 
 
 
Fixed income securities
$
5,966

 
$
5,966

 
$
—

 
$
—

U.S. equity securities
4,542

 
4,542

 
—

 
—

Cash
147

 
147

 
—

 
—

Other
217

 
—

 
217

 
—

Total
$
10,872

 
$
10,655

 
$
217

 
$
—

Postretirement benefit plans:
 
 
 
 
 
 
 
Fixed income securities
$
407

 
$
407

 
$
—

 
$
—

U.S. equity securities
109

 
109

 
—

 
—

Cash
4

 
4

 
—

 
—

Total
$
520

 
$
520

 
$
—

 
$
—

 
 
 
Fair Value Measurements at December 31, 2012
 
 
 
Quoted Prices
in Active
Markets
 
Significant
Other
Observable
Inputs
 
Significant
Unobserved
Inputs
(in thousands)
Total
 
(Level 1)
 
(Level 2)
 
(Level 3)
Domestic pension plans:
 
 
 
 
 
 
 
Cash
$
10,401

 
$
10,401

 
$
—

 
$
—

Other
223

 
—

 
223

 
—

Total
$
10,624

 
$
10,401

 
$
223

 
$
—

Postretirement benefit plans:
 
 
 
 
 
 
 
Cash
$
1,397

 
$
1,397

 
$
—

 
$
—


The significant amount of investments held in cash in the domestic pension and postretirement plans as of December 31, 2012 was due to a change in the investment custodian during December 2012. All securities held by the previous custodian were liquidated to cash and transferred to the new custodian in December 2012. During January and February 2013, the new custodian invested the plans’ assets in a mix of equities and fixed income securities approximating the same mixes as December 31, 2011.
Viad employs a total return investment approach whereby a mix of equities and fixed income securities is used to maximize the long-term return of plan assets for a prudent level of risk. Risk tolerance is established through careful consideration of plan liabilities, plan funded status, and corporate financial condition. The investment portfolio contains a diversified blend of equity and fixed income securities. Furthermore, equity securities are diversified across U.S. and non-U.S. stocks, as well as growth and value. Investment risk is measured and monitored on an ongoing basis through quarterly investment portfolio reviews and annual liability measurements.
Viad utilizes a building-block approach in determining the long-term expected rate of return on plan assets. Historical markets are studied and long-term historical relationships between equity securities and fixed income securities are preserved consistent with the widely accepted capital market principle that assets with higher volatility generate a greater return over the long run. Current market factors such as inflation and interest rates are evaluated before long-term capital market assumptions are determined. The long-term portfolio return also considers diversification and rebalancing. Peer data and historical returns are reviewed relative to Viad’s assumed rates for reasonableness and appropriateness.
The following pension and postretirement benefit payments, which reflect expected future service, as appropriate, are expected to be paid, as well as the Medicare Part D subsidy expected to be received:
(in thousands)
Funded
Plans
 
Unfunded
Plans
 
Postretirement
Benefit
Plans
 
Medicare
Part D Subsidy
Receipts
2014
$
853

 
$
729

 
$
1,739

 
$
254

2015
879

 
716

 
1,702

 
254

2016
830

 
806

 
1,691

 
253

2017
865

 
827

 
1,649

 
251

2018
857

 
894

 
1,609

 
247

2019-2022
4,668

 
4,211

 
7,330

 
1,169


Foreign Pension Plans. Certain of Viad’s foreign operations also maintain trusteed defined benefit pension plans covering certain employees which are funded by the companies, and unfunded defined benefit pension plans providing supplemental benefits to select management employees. These plans use traditional defined benefit formulas based on years of service and final average compensation. Funding policies provide that payments to defined benefit pension trusts shall be at least equal to the minimum funding required by applicable regulations. The components of net periodic benefit cost and other amounts recognized in other comprehensive income included the following:
(in thousands)
2013
 
2012
 
2011
Net periodic benefit cost:
 
 
 
 
 
Service cost
$
534

 
$
491

 
$
366

Interest cost
702

 
737

 
729

Expected return on plan assets
(698
)
 
(622
)
 
(665
)
Recognized net actuarial loss
248

 
201

 
73

Net periodic benefit cost
786

 
807

 
503

Other changes in plan assets and benefit obligations recognized in other comprehensive income:
 
 
 
 
 
Net actuarial loss (gain)
(1,214
)
 
958

 
1,936

Reversal of amortization of net actuarial loss
(248
)
 
(201
)
 
(73
)
Total recognized in other comprehensive income (loss)
(1,462
)
 
757

 
1,863

Total recognized in net periodic benefit cost and other comprehensive income (loss)
$
(676
)
 
$
1,564

 
$
2,366



The following table represents the funded status of the plans as of December 31:
 
Funded Plans
 
Unfunded Plans
(in thousands)
2013
 
2012
 
2013
 
2012
Change in benefit obligation:
 
 
 
 
 
 
 
Benefit obligation at beginning of year
$
15,387

 
$
13,141

 
$
3,032

 
$
2,939

Service cost
534

 
491

 
—

 
—

Interest cost
582

 
607

 
120

 
130

Actuarial adjustments
(473
)
 
1,086

 
44

 
113

Benefits paid
(3,644
)
 
(328
)
 
(219
)
 
(220
)
Translation adjustment
(926
)
 
390

 
(66
)
 
70

Benefit obligation at end of year
11,460

 
15,387

 
2,911

 
3,032

Change in plan assets:
 
 
 
 
 
 
 
Fair value of plan assets at beginning of year
12,997

 
11,028

 
—

 
—

Actual return on plan assets
1,148

 
860

 
—

 
—

Company contributions
1,892

 
1,111

 
219

 
220

Benefits paid
(3,644
)
 
(328
)
 
(219
)
 
(220
)
Translation adjustment
(833
)
 
326

 
—

 
—

Fair value of plan assets at end of year
11,560

 
12,997

 
—

 
—

Funded status at end of year
$
100

 
$
(2,390
)
 
$
(2,911
)
 
$
(3,032
)

As of December 31, 2013 and 2012, the foreign funded plans had net assets of $100,000 and net liabilities of $2.4 million, respectively. The unfunded plans had liabilities of $2.9 million and $3.0 million at December 31, 2013 and 2012, respectively. These amounts are each included in the consolidated balance sheets under the caption “Pension and postretirement benefits.”
The net actuarial losses for the foreign funded plans as of December 31, 2013 and 2012 were $3.8 million ($2.8 million after-tax) and $5.3 million ($3.9 million after-tax), respectively. The net actuarial losses as of December 31, 2013 and 2012 for the foreign unfunded plans were $367,000 ($275,000 after-tax) and $366,000 ($271,000 after-tax), respectively.
The fair value of the foreign pension plans’ assets by asset category were as follows:
 
 
 
Fair Value Measurements at December 31, 2013
(in thousands)
Total
 
Quoted Prices
in Active
Markets
(Level 1)
 
Significant
Other
Observable
Inputs
(Level 2)
 
Significant
Unobserved
Inputs
(Level 3)
Assets:
 
 
 
 
 
 
 
Canadian fixed income securities
$
5,174

 
$
5,174

 
$
—

 
$
—

International equity securities
4,781

 
4,386

 
395

 
—

U.S. equity securities
1,269

 
1,269

 
—

 
—

Other
336

 
336

 
—

 
—

Total
$
11,560

 
$
11,165

 
$
395

 
$
—

 
 
 
Fair Value Measurements at December 31, 2012
(in thousands)
Total
 
Quoted Prices
in Active
Markets
(Level 1)
 
Significant
Other
Observable
Inputs
(Level 2)
 
Significant
Unobserved
Inputs
(Level 3)
Assets:
 
 
 
 
 
 
 
Canadian fixed income securities
$
6,744

 
$
6,744

 
$
—

 
$
—

International equity securities
4,871

 
4,494

 
377

 
—

U.S. equity securities
1,185

 
1,185

 
—

 
—

Other
197

 
197

 
—

 
—

Total
$
12,997

 
$
12,620

 
$
377

 
$
—



The following payments, which reflect expected future service, as appropriate, are expected to be paid:
(in thousands)
Funded
Plans
 
Unfunded
Plans
2014
$
365

 
$
213

2015
480

 
213

2016
485

 
212

2017
488

 
212

2018
512

 
211

2019-2022
3,226

 
1,051


Information for Pension Plans with an Accumulated Benefit Obligation in Excess of Plan Assets. The accumulated benefit obligations in excess of plan assets as of December 31 were as follows:
 
Domestic Plans
 
Funded Plans
 
Unfunded Plans
(in thousands)
2013
 
2012
 
2013
 
2012
Projected benefit obligation
$
13,435

 
$
15,348

 
$
10,536

 
$
11,570

Accumulated benefit obligation
13,435

 
15,348

 
10,227

 
11,322

Fair value of plan assets
10,872

 
10,624

 
—

 
—

 
 
Foreign Plans
 
Funded Plans
 
Unfunded Plans
(in thousands)
2013
 
2012
 
2013
 
2012
Projected benefit obligation
$
11,460

 
$
15,387

 
$
2,911

 
$
3,032

Accumulated benefit obligation
10,823

 
14,307

 
2,911

 
3,032

Fair value of plan assets
11,560

 
12,997

 
—

 
—


Contributions. In aggregate for both the domestic and foreign plans, the Company anticipates contributing $1.4 million to the funded pension plans, $942,000 to the unfunded pension plans and $950,000 to the postretirement benefit plans in 2014.
Weighted-Average Assumptions. Weighted-average assumptions used to determine benefit obligations as of December 31 were as follows:
 
Domestic Plans
 
 
 
 
 
Funded Plans
 
Unfunded Plans
 
Postretirement
Benefit Plans
 
Foreign Plans
 
2013
 
2012
 
2013
 
2012
 
2013
 
2012
 
2013
 
2012
Discount rate
4.89
%
 
4.11
%
 
4.60
%
 
3.80
%
 
4.65
%
 
3.85
%
 
4.67
%
 
4.06
%
Rate of compensation increase
N/A

 
N/A

 
3.00
%
 
4.50
%
 
N/A

 
N/A

 
3.00
%
 
3.00
%
Weighted-average assumptions used to determine net periodic benefit cost were as follows:
 
Domestic Plans
 
 
 
 
 
 
 
 
 
 
 
 
 
Postretirement
Benefit Plans
 
 
 
 
 
Funded Plans
 
Unfunded Plans
 
 
Foreign Plans
 
2013
 
2012
 
2013
 
2012
 
2013
 
2012
 
2013
 
2012
Discount rate
4.09
%
 
4.93
%
 
3.80
%
 
4.75
%
 
3.85
%
 
4.70
%
 
4.03
%
 
4.65
%
Expected return on plan assets
3.90
%
 
4.20
%
 
N/A

 
N/A

 
0.00
%
 
4.65
%
 
5.44
%
 
5.45
%
Rate of compensation increase
N/A

 
N/A

 
4.50
%
 
4.50
%
 
N/A

 
N/A

 
3.00
%
 
3.00
%

The assumed health care cost trend rate used in measuring the December 31, 2013 accumulated postretirement benefit obligation was 8.0 percent, declining one-half percent each year to the ultimate rate of 5.0 percent by the year 2019 and remaining at that level thereafter. The assumed health care cost trend rate used in measuring the December 31, 2012 accumulated postretirement benefit obligation was 8.5 percent, declining one-half percent each year to the ultimate rate of 5.0 percent by the year 2019 and remaining at that level thereafter.
A one-percentage-point increase in the assumed health care cost trend rate for each year would increase the accumulated postretirement benefit obligation as of December 31, 2013 by approximately $1.5 million and the total of service and interest cost components by approximately $113,000. A one-percentage-point decrease in the assumed health care cost trend rate for each year would decrease the accumulated postretirement benefit obligation as of December 31, 2013 by approximately $1.3 million and the total of service and interest cost components by approximately $90,000.
Multi-employer Plans. Viad contributes to defined benefit pension plans under the terms of collective-bargaining agreements that cover its union-represented employees. The financial risks of participating in these multi-employer pension plans generally include the fact that assets contributed to the plan by one employer may be used to provide benefits to employees of other participating employers. Furthermore, if a participating employer ceases to contribute to the plan, the unfunded obligations of the plan may be borne by the remaining participating employers. In addition, if Viad were to discontinue its participation in some of its multi-employer pension plans, the Company may be required to pay those plans a withdrawal liability amount based on the underfunded status of the plan. Viad also contributes to defined contribution plans pursuant to its collective-bargaining agreements, which are generally not subject to the funding risks inherent in defined benefit pension plans. The overall level of Viad’s contributions to its multi-employer plans may significantly vary from year to year based on the demand for union-represented labor to support the Company’s operations. Viad does not have any minimum contribution requirements for future periods pursuant to its collective-bargaining agreements for individually significant multi-employer plans.
Viad’s participation in multi-employer pension plans for 2013 is outlined in the following table. Unless otherwise noted, the most recent Pension Protection Act zone status available in 2013 and 2012 relates to the plan’s year end as of December 31, 2012 and 2011, respectively, and is based on information received from the plan. Among other factors, plans in the red zone are generally less than 65 percent funded, plans in the yellow zone are less than 80 percent funded, and plans in the green zone are at least 80 percent funded. The “FIP/RP Status Pending/Implemented” column indicates plans for which a financial improvement plan or a rehabilitation plan is either pending or has been implemented.
  
 
 
Plan
 
Pension
Protection Act
Zone Status
 
FIP/RP
Status
Pending/ Implemented
 
Viad Contributions
 
Surcharge Paid
 
Expiration
Date of
Collective-
Bargaining Agreement(s)
(in thousands)
EIN
 
No.
 
2013
 
2012
 
 
2013
 
2012
 
2011
 
 
Pension Fund:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Western Conference of Teamsters Pension Plan
91-6145047
 
1

 
Green
 
Green
 
No
 
$
5,524

 
$
5,694

 
$
5,720

 
No
 
3/31/14 to 5/31/15

Southern California Local 831—Employer Pension Fund(1)
95-6376874
 
1

 
Green
 
Green
 
No
 
2,244

 
2,358

 
2,232

 
No
 
8/31/14
National Electrical Benefit Fund
53-0181657
 
1

 
Green
 
Green
 
No
 
1,631

 
1,814

 
1,691

 
No
 
5/31/14 to 6/16/14
Chicago Regional Council of Carpenters Pension Fund(2)
36-6130207
 
1

 
Yellow
 
Yellow
 
Yes
 
1,614

 
1,749

 
1,411

 
No
 
5/31/14
Electrical Contractors Assoc. Chicago Local Union 134, IBEW Joint Pension Trust of Chicago Plan #2
51-6030753
 
2

 
Green
 
Green
 
No
 
957

 
108

 
—

 
No
 
6/3/14
Central States, Southeast and Southwest Areas Pension Plan
36-6044243
 
1

 
Red
 
Red
 
Yes
 
836

 
874

 
725

 
No
 
7/31/15
Southwest Carpenters Pension Trust
95-6042875
 
1

 
Green
 
Green
 
No
 
812

 
944

 
1,031

 
No
 
6/30/15
Machinery Movers Riggers & Mach Erect Local 136 Supplemental Retirement Plan(1),(2)
36-1416355
 
1

 
Red
 
Red
 
Yes
 
430

 
930

 
386

 
No
 
6/30/14
Nevada Resort Association IATSE Local 720 Retirement Plan
51-0144767
 
1

 
Red
 
Red
 
Yes
 
367

 
516

 
329

 
No
 
12/31/14
Sign Pictorial & Display Industry Pension Plan
94-6278490
 
1

 
Green
 
Green
 
No
 
367

 
196

 
191

 
No
 
3/31/15
Carpenters Retirement Plan of Western Washington
91-6029051
 
1

 
Green
 
Green
 
No
 
357

 
357

 
286

 
No
 
5/31/13
New England Teamsters & Trucking Industry Pension(3)
04-6372430
 
1

 
Yellow
 
Red
 
Yes
 
347

 
334

 
339

 
No
 
3/31/17
Steelworkers Pension Trust
23-6648508
 
499

 
Green
 
Green
 
No
 
266

 
326

 
422

 
No
 
3/31/13 to 2/28/15
All other funds(4)
 
 
 
 
 
 
 
 
 
 
2,592

 
2,468

 
2,946

 
 
 
 
Total contributions to defined benefit plans
 
 
 
 
 
 
 
 
 
 
18,344

 
18,668

 
17,709

 
 
 
 
Total contributions to other plans
 
 
 
 
 
 
 
 
 
 
1,969

 
2,001

 
1,892

 
 
 
 
Total contributions to multi-employer plans
 
 
 
 
 
 
 
 
 
 
$
20,313

 
$
20,669

 
$
19,601

 
 
 
 
(1) The Company contributed more than 5 percent of total plan contributions for the 2012 and 2011 plan years based on the plans’ Form 5500s.
(2) Zone status as of 6/30/12 and 6/30/11.
(3) Zone status as of 9/30/12 and 9/30/11.
(4) Represents participation in 37 pension funds during 2013.
Other Employee Benefits. Costs of the 401(k) Plan and other benefit plans totaled $1.3 million, $1.7 million and $1.3 million in 2013, 2012 and 2011, respectively.
Restructuring Charges
Restructuring Charges
Marketing & Events Group Consolidation
Beginning in 2009, Viad commenced certain restructuring actions designed to reduce the Company’s cost structure primarily within the Marketing & Events U.S. segment, and to a lesser extent in the Marketing & Events International segment. The Company implemented a strategic reorganization plan in order to consolidate the separate business units within the Marketing & Events U.S. segment. The Company also consolidated facilities and streamlined its operations in the United Kingdom and Germany. As a result, the Company recorded restructuring charges in 2013, 2012 and 2011, primarily consisting of severance and related benefits as a result of workforce reductions and charges related to the consolidation and downsizing of facilities representing the remaining operating lease obligations (net of estimated sublease income) and related costs. During 2012 and 2011, the Company recorded restructuring charges related to leased facility consolidations and optimization of the Marketing & Events U.S. segment’s service delivery network.
Other Restructurings
The Company has recorded restructuring charges in connection with the consolidation of certain support functions at its corporate headquarters, and certain reorganization activities within the Travel & Recreation Group. These charges primarily consist of severance and related benefits due to headcount reductions. In addition, the Company had recorded significant restructuring charges in past years, primarily within the Marketing & Events U.S. segment. These legacy restructuring liabilities represented the remaining contractual lease obligations on certain facilities, and were subject to periodic adjustments as a result of changes in estimated sublease activity and other factors.
The table below represents a reconciliation of beginning and ending liability balances by major restructuring activity:
 
Marketing & Events
Group Consolidation
 
Other Restructurings
 
 
(in thousands)
Severance &
Employee
Benefits
 
Facilities
 
Severance &
Employee
Benefits
 
Facilities
 
Total
Balance at January 1, 2011
$
1,106

 
$
5,051

 
$
197

 
$
1,642

 
$
7,996

Restructuring charges
1,182

 
2,519

 
26

 
55

 
3,782

Cash payments
(1,175
)
 
(2,356
)
 
(199
)
 
(158
)
 
(3,888
)
Adjustment to liability
(294
)
 
(397
)
 
—

 
(263
)
 
(954
)
Foreign currency translation adjustment
12

 
2

 
—

 
—

 
14

Balance at December 31, 2011
831

 
4,819

 
24

 
1,276

 
6,950

Restructuring charges
2,506

 
2,346

 
90

 
—

 
4,942

Cash payments
(2,670
)
 
(1,567
)
 
(114
)
 
(343
)
 
(4,694
)
Adjustment to liability
51

 
(27
)
 
—

 
—

 
24

Foreign currency translation adjustment
2

 
—

 
—

 
—

 
2

Balance at December 31, 2012
720

 
5,571

 
—

 
933

 
7,224

Restructuring charges (recoveries)
2,931

 
(315
)
 
1,967

 
(692
)
 
3,891

Cash payments
(2,411
)
 
(1,691
)
 
(498
)
 
(241
)
 
(4,841
)
Adjustment to liability
—

 
—

 
(478
)
 
—

 
(478
)
Balance at December 31, 2013
$
1,240

 
$
3,565

 
$
991

 
$
—

 
$
5,796


As of December 31, 2013, the liabilities related to severance and employee benefits are expected to be paid by the end of 2014. Additionally, the liability of $3.6 million related to future lease payments are to be paid over the remaining lease terms at the Marketing & Events Group. See Note 20 for information regarding restructuring charges by segment.
Leases and Other
Leases and Other
Leases and Other
Viad has entered into operating leases for the use of certain of its offices, equipment and other facilities. These leases expire over periods up to 40 years. Leases which expire are generally renewed or replaced by similar leases. Some leases contain scheduled rental increases accounted for on a straight-line basis.
As of December 31, 2013, Viad’s future minimum rental payments and related sublease rentals receivable with respect to non-cancelable operating leases with terms in excess of one year were as follows:
(in thousands)
Rental
Payments
 
Receivable
Under Subleases
2014
$
19,808

 
$
1,665

2015
14,371

 
1,212

2016
9,439

 
963

2017
7,870

 
963

2018
6,097

 
873

Thereafter
8,137

 
1,092

Total
$
65,722

 
$
6,768


Net rent expense under operating leases consisted of the following:
(in thousands)
2013
 
2012
 
2011
Minimum rentals
$
34,201

 
$
36,309

 
$
30,860

Sublease rentals
(6,815
)
 
(6,501
)
 
(6,497
)
Total rentals, net
$
27,386

 
$
29,808

 
$
24,363


The aggregate annual maturities and the related amounts representing interest on capital lease obligations are included in Note 9.
In addition, as of December 31, 2013, the Company had aggregate purchase obligations of $31.6 million related to various licensing agreements, consulting and other contracted services.
Litigation, Claims, Contingencies and Other
Litigation, Claims, Contingencies and Other
Viad and certain of its subsidiaries 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 Viad. Although the amount of liability as of December 31, 2013 with respect to these matters is not ascertainable, Viad believes that any resulting liability, after taking into consideration amounts already provided for and insurance coverage, will not have a material effect on Viad’s business, financial position or results of operations.
Viad is 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 Viad has or had operations. If the Company has failed to comply with these environmental laws and regulations, civil and criminal penalties could be imposed and Viad could become subject to regulatory enforcement actions in the form of injunctions and cease and desist orders. As is the case with many companies, Viad also faces exposure to actual or potential claims and lawsuits involving environmental matters relating to its past operations. Although it is a party to certain environmental disputes, Viad believes that any resulting liabilities, after taking into consideration amounts already provided for and insurance coverage, will not have a material effect on the Company’s financial position or results of operations. As of December 31, 2013 and 2012, Viad had recorded environmental remediation liabilities of $5.0 million and $5.3 million, respectively, related to previously sold operations.
As of December 31, 2013, Viad had certain obligations under guarantees to third parties on behalf of its subsidiaries. These guarantees are not subject to liability recognition in the consolidated financial statements and relate to leased facilities entered into by Viad’s subsidiary operations. The Company 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 Viad would be required to make under all guarantees existing as of December 31, 2013 would be $13.7 million. These guarantees relate to leased facilities expiring through October 2017. There are no recourse provisions that would enable Viad to recover from third parties any payments made under the guarantees. Furthermore, there are no collateral or similar arrangements whereby Viad could recover payments.
A significant portion of Viad’s employees are unionized and the Company is a party to approximately 100 collective-bargaining agreements, with approximately one-third requiring renegotiation each year. As of December 31, 2013, approximately 30 percent of Viad’s regular full-time employees are covered by collective-bargaining agreements. If the Company were 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 the Company’s businesses and results of operations. Viad believes that relations with its employees are satisfactory and that collective-bargaining agreements expiring in 2014 will be renegotiated in the ordinary course of business without having a material adverse effect on Viad’s operations.
Viad’s businesses contribute to various multi-employer pension plans based on obligations arising under collective bargaining agreements covering its union-represented employees. Viad’s contributions to these plans in 2013, 2012 and 2011 totaled $20.3 million, $20.7 million and $19.6 million, respectively. Based upon the information available to Viad from plan administrators, management believes that several of these multi-employer plans are underfunded. The Pension Protection Act of 2006 requires pension plans underfunded at certain levels to reduce, over defined time periods, the underfunded status. In addition, under current laws, the termination of a plan, or a voluntary withdrawal from a plan by Viad, or a shrinking contribution base to a plan as a result of the insolvency or withdrawal of other contributing employers to such plan, would require Viad to make payments to such plan for its proportionate share of the plan’s unfunded vested liabilities. As of December 31, 2013, the amount of additional funding, if any, that Viad would be required to make related to multi-employer pension plans is not ascertainable.
On December 31, 2013, Glacier Park’s concession contract to operate lodging, tour and transportation and other hospitality services for Glacier National Park expired. Glacier Park generated approximately 47 percent of its 2013 revenue through its concession contract for services provided within Glacier National Park.
Upon completion of the contract term, the Company received in January 2014 cash payments totaling $25 million for the Company’s “possessory interest,” which generally means the value of the structures acquired or constructed, fixtures installed and improvements made to the concession property at Glacier National Park during the term of the concession contract. The Company anticipates a cash payment of approximately $5 million for the personal property Glacier Park used at the facilities covered by the concession contract.
Glacier Park continues to generate revenue from the five properties it owns: (1) St. Mary Lodge in St. Mary, Montana; (2) Glacier Park Lodge in East Glacier, Montana; (3) Grouse Mountain Lodge in Whitefish, Montana; (4) the Prince of Wales Hotel in Waterton Lakes National Park, Alberta; and (5) Motel Lake McDonald, which is located inside Glacier National Park. Glacier Park also continues to operate the food and beverage services with respect to these properties and the retail shops located near Glacier National Park. The five properties Glacier Park currently owns contain more than one-half of the rooms that Glacier Park operated in 2013.
Segment Information
Segment Information
Segment Information
Viad measures profit and performance of its operations on the basis of segment operating income which excludes restructuring charges and recoveries and impairment charges and recoveries. 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. No reportable segment has a client comprising more than 7.0 percent of that segment’s revenues, and no client comprises more than 4.5 percent of Viad’s revenues. Disclosures regarding Viad’s reportable segments with reconciliations to consolidated totals are as follows:
(in thousands)
2013
 
2012
 
2011
Revenues:
 
 
 
 
 
Marketing & Events Group:
 
 
 
 
 
U.S.
$
628,856

 
$
676,772

 
$
631,360

International
229,312

 
240,137

 
218,639

Intersegment eliminations
(13,264
)
 
(14,869
)
 
(9,449
)
 
844,904

 
902,040

 
840,550

Travel & Recreation Group
127,888

 
123,191

 
101,814

Total Revenue
$
972,792

 
$
1,025,231

 
$
942,364

Segment operating income (loss):

 
 
 
 
Marketing & Events Group:
 
 
 
 
 
U.S.
$
11,024

 
$
5,579

 
$
(6,269
)
International
9,068

 
12,321

 
11,449

 
20,092


17,900

 
5,180

Travel & Recreation Group
25,799

 
23,962

 
20,196

 
45,891

 
41,862

 
25,376

Corporate activities
(6,755
)
 
(9,408
)
 
(7,682
)
 
39,136


32,454

 
17,694

Interest income
550

 
593

 
779

Interest expense
(1,234
)
 
(1,303
)
 
(1,511
)
Restructuring recoveries (charges):
 
 
 
 
 
Marketing & Events U.S.
409

 
(3,479
)
 
(3,756
)
Marketing & Events International
(2,362
)
 
(1,373
)
 
—

Travel & Recreation Group
(907
)
 
(79
)
 
—

Corporate
(1,031
)
 
(11
)
 
(26
)
Impairment charges:
 
 
 
 
 
Marketing & Events U.S.
(658
)
 
—

 
—

Marketing & Events International
(294
)
 
—

 
—

Travel & Recreation Group
(4,461
)
 
—

 
—

Income from continuing operations before income taxes
$
29,148

 
$
26,802

 
$
13,180


(in thousands)
2013
 
2012
 
2011
Assets:
 
 
 
 
 
Marketing & Events Group:
 
 
 
 
 
U.S.
$
194,422

 
$
203,145

 
$
213,843

International
81,058

 
100,387

 
96,996

Travel & Recreation Group
209,611

 
223,199

 
194,278

Corporate and other
76,841

 
123,846

 
112,711

 
$
561,932


$
650,577

 
$
617,828

Depreciation and amortization:
 
 
 
 
 
Marketing & Events Group:
 
 
 
 
 
U.S.
$
14,906

 
$
17,643

 
$
17,247

International
5,566

 
5,162

 
5,027

Travel & Recreation Group
7,967

 
7,781

 
6,674

Corporate and other
176

 
145

 
178

 
$
28,615


$
30,731

 
$
29,126

Capital expenditures:
 
 
 
 
 
Marketing & Events Group:
 
 
 
 
 
U.S.
$
8,278

 
$
7,525

 
$
11,692

International
4,332

 
4,913

 
5,635

Travel & Recreation Group
23,108

 
15,201

 
3,271

Corporate and other
401

 
36

 
940

 
$
36,119


$
27,675

 
$
21,538


Products and Services. Viad’s revenues for each group of products and services are presented in the following table:
(in thousands)
2013
 
2012
 
2011
Revenues:
 
 
 
 
 
Exhibition and event services
$
685,350

 
$
726,429

 
$
670,054

Exhibits and environments
159,554

 
175,611

 
170,496

Travel and recreation services
127,888

 
123,191

 
101,814

Total revenues
$
972,792


$
1,025,231

 
$
942,364


Geographic Areas. Viad’s foreign operations are located principally in Canada, the United Kingdom, Germany and the United Arab Emirates. Marketing & Events Group revenues are designated as domestic or foreign based on the originating location of the product or service. Long-lived assets are attributed to domestic or foreign based principally on the physical location of the assets. Long-lived assets consist of “Property and equipment, net” and “Other investments and assets.” The table below presents the financial information by major geographic area:
(in thousands)
2013
 
2012
 
2011
Revenues:
 
 
 
 
 
United States
$
656,927

 
$
700,414

 
$
660,998

United Kingdom
151,217

 
153,027

 
124,208

Canada
148,934

 
151,070

 
140,374

Other international
15,714

 
20,720

 
16,784

Total revenues
$
972,792

 
$
1,025,231

 
$
942,364

Long-lived assets:
 
 
 
 
 
United States
$
132,315

 
$
141,727

 
$
145,217

Canada
82,986

 
76,067

 
47,624

United Kingdom
9,631

 
9,757

 
8,165

Other international
424

 
2,163

 
3,858

Total long-lived assets
$
225,356

 
$
229,714

 
$
204,864

Common Stock Repurchases
Common Stock Repurchases
Common Stock Repurchases
In December 2012, Viad announced the authorization of its Board of Directors to repurchase shares of the Company’s common stock from time to time at prevailing market prices. No shares were repurchased on the open market during 2013. During 2012 and 2011, Viad repurchased 23,183 shares for $526,000 and 250,760 shares for $4.6 million, respectively. As of December 31, 2013, 1,030,438 shares remain available for repurchase. Additionally, during 2013, 2012 and 2011, the Company repurchased 50,156 shares for $1.3 million, 56,885 shares for $1.1 million and 28,627 shares for $679,000, respectively, related to tax withholding requirements on share-based awards.
Discontinued Operations
Discontinued Operations
In 2013 and 2012, Viad recorded income from discontinued operations of $1.1 million and $624,000, respectively, primarily related to the sale of land associated with previously sold operations. In 2011, Viad recorded income from discontinued operations of $451,000 related to the reversal of certain liabilities associated with previously sold operations.
Condensed Consolidated Quarterly Results (Unaudited)
Condensed Consolidated Quarterly Results (Unaudited)
Condensed Consolidated Quarterly Results (Unaudited)
The following quarterly financial information was derived from the Company’s interim financial statements and was prepared in a manner consistent with the annual financial statements and includes all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation.
 
2013
 
2012
(in thousands, except per share data)
First
Quarter
 
Second
Quarter
 
Third
Quarter
 
Fourth
Quarter
 
First
Quarter
 
Second
Quarter
 
Third
Quarter
 
Fourth
Quarter
Revenues:
$
285,163

 
$
249,314

 
$
236,473

 
$
201,842

 
$
268,772

 
$
246,450

 
$
307,457

 
$
202,552

Operating income (loss):
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Ongoing operations(1)
$
12,827

 
$
10,881

 
$
24,624

 
$
(2,441
)
 
$
5,533

 
$
10,498

 
$
34,182

 
$
(8,351
)
Corporate activities
(806
)
 
(1,167
)
 
(2,034
)
 
(2,748
)
 
(1,777
)
 
(2,187
)
 
(2,036
)
 
(3,408
)
Restructuring charges
(720
)
 
(773
)
 
(714
)
 
(1,684
)
 
(2,225
)
 
(678
)
 
(608
)
 
(1,431
)
Impairment charges
—

 
—

 
(5,413
)
 
—

 
—

 
—

 
—

 
—

Operating income (loss)
$
11,301

 
$
8,941

 
$
16,463

 
$
(6,873
)
 
$
1,531

 
$
7,633

 
$
31,538

 
$
(13,190
)
Income (loss) from continuing operations attributable to Viad(2)
$
8,065

 
$
6,253

 
$
10,849

 
$
(4,740
)
 
$
1,027

 
$
5,451

 
$
19,976

 
$
(21,181
)
Net income (loss) attributable to Viad(2)
$
8,065

 
$
6,253

 
$
11,855

 
$
(4,618
)
 
$
1,027

 
$
6,090

 
$
19,976

 
$
(21,196
)
Income (loss) per common share-Diluted(2),(3):
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Income (loss) from continuing operations attributable to Viad
$
0.40

 
$
0.31

 
$
0.53

 
$
(0.24
)
 
$
0.05

 
$
0.27

 
$
0.99

 
$
(1.07
)
Net income (loss) attributable to Viad
$
0.40

 
$
0.31

 
$
0.58

 
$
(0.23
)
 
$
0.05

 
$
0.30

 
$
0.99

 
$
(1.07
)
Income (loss) per common share-Basic(2),(3):
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Income (loss) from continuing operations attributable to Viad
$
0.40

 
$
0.31

 
$
0.53

 
$
(0.24
)
 
$
0.05

 
$
0.27

 
$
0.99

 
$
(1.07
)
Net income (loss) attributable to Viad
$
0.40

 
$
0.31

 
$
0.58

 
$
(0.23
)
 
$
0.05

 
$
0.30

 
$
0.99

 
$
(1.07
)
(1) Represents revenues less costs of services and products sold.
(2) The fourth quarter of 2012 includes a tax charge of $13.4 million representing a valuation allowance for certain deferred tax assets associated with foreign tax credit carryforwards.
(3) The sum of quarterly income per share amounts may not equal annual income per share due to rounding.
Subsequent Event
Subsequent Event
Subsequent Events
In connection with the expiration of the Company’s concession contract at Glacier National Park, Viad received cash payments in January 2014 totaling $25 million for its “possessory interest,” which generally means the value of the structures acquired or constructed, fixtures installed and improvements made to the concession property during the term of the concession contract. The Company also anticipates a cash payment of approximately $5 million for the personal property Glacier Park uses at the facilities covered by the concession contract.
On January 24, 2014, Viad announced that its Board of Directors declared a special cash dividend of $1.50 per share, or approximately $30.5 million in the aggregate, to shareholders of record at the close of business on February 7, 2014. The dividend was paid on February 14, 2014.
Schedule II - Valuation And Qualifying Accounts
Schedule II - Valuation and Qualifying Accounts
SCHEDULE II – VALUATION AND QUALIFYING ACCOUNTS
 
 
 
 
Additions
 
Deductions
 
 
 
Balance at
Beginning
 
Charged to
 
Charged to
Other
 
 
 
Credited
to Other
 
Balance at
(in thousands)
of Year
 
Expense
 
Accounts
 
Write Offs
 
Accounts
 
End of Year
Allowance for doubtful accounts:
 
 
 
 
 
 
 
 
 
 
 
December 31, 2011
$
1,172

 
1,696

 
—

 
(1,796
)
 
—

 
$
1,072

December 31, 2012
1,072

 
708

 
—

 
(630
)
 
—

 
1,150

December 31, 2013
1,150

 
313

 
—

 
(586
)
 
—

 
877

Deferred tax valuation allowance:
 
 
 
 
 
 
 
 
 
 
 
December 31, 2011
$
411

 
—

 
—

 
(55
)
 
—

 
$
356

December 31, 2012
356

 
14,220

 
—

 
—

 
—

 
14,576

December 31, 2013
14,576

 
1,917

 
—

 
(4,100
)
 
—

 
12,393

Summary of Significant Accounting Policies (Policies)
Principles of Consolidation 
Basis of Presentation and Principles of Consolidation
The consolidated financial statements of Viad Corp (“Viad” or the “Company”) are prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”) and include the accounts of Viad and all of its subsidiaries. All intercompany account balances and transactions between Viad and its subsidiaries have been eliminated in consolidation.
Segments 
Nature of Business
Viad’s reportable segments consist of Marketing & Events U.S., Marketing & Events International and Travel & Recreation Group.
Marketing & Events Group
The Marketing & Events Group, comprised of Global Experience Specialists, Inc. and affiliates (“GES”), specializes in all aspects of the design, planning and production of face-to-face events, immersive environments and brand-based experiences for clients, including show organizers, corporate brand marketers and retail shopping centers. In addition, the Marketing & Events Group provides a variety of immersive, entertaining attractions and brand-based experiences, sponsored events, mobile marketing and other branded entertainment and face-to-face marketing solutions for clients and venues, including shopping malls, movie studios, museums and leading consumer brands.
Travel & Recreation Group
The Travel & Recreation Group segment consists of Brewster Inc. (“Brewster”), Glacier Park, Inc. (“Glacier Park”) and Alaskan Park Properties, Inc. (“Alaska Denali Travel”). Brewster provides tourism services in the Canadian Rockies in Alberta and in other parts of Western Canada. Brewster’s operations include the Banff Gondola, Columbia Icefield Glacier Adventure, motorcoach services, charter and sightseeing services, tour boat operations, inbound package tour operations and hotel operations. During 2013, Glacier Park, an 80 percent owned subsidiary of Viad, operated five lodges, three motor inns and one four-season resort hotel and provided food and beverage operations, retail operations and tour and transportation services in and around Glacier National Park in Montana and Waterton Lake National Park in Alberta, Canada. As discussed in Note 7 below, Glacier Park’s concession portion of its business with the U.S. National Park Service (the “Park Service”) for Glacier National Park expired on December 31, 2013. Thereafter, the ongoing operations of Glacier Park will include: Glacier Park Lodge in East Glacier, Montana; Grouse Mountain Lodge in Whitefish, Montana; St. Mary Lodge in St. Mary, Montana; Motel Lake McDonald, an in-holding within Glacier National Park and the Prince of Wales Hotel in Waterton Lakes National Park, Alberta, Canada. Alaska Denali Travel operates Denali Backcountry Lodge and Denali Cabins. In addition to lodging, Alaska Denali Travel also provides food and beverage operations and package tour and transportation services in and around Denali National Park and Preserve.
Use of Estimates 
Use of Estimates. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. These estimates and assumptions include, but are not limited to:
•
Fair value of Viad’s reporting units used to perform annual impairment testing of recorded goodwill;
•
Allowances for uncollectible accounts receivable;
•
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;
•
Assumptions used to measure pension and postretirement benefit costs and obligations;
•
Assumptions used to determine share-based compensation costs under the fair value method and
•
Allocation of purchase price of acquired businesses.
Actual results could differ from these and other estimates.
Cash and Cash Equivalents 
Cash and Cash Equivalents. Viad considers all highly-liquid investments with remaining maturities when purchased of three months or less to be cash equivalents. Viad’s cash and cash equivalents consist of cash and bank demand deposits, bank time deposits and money market mutual funds. The Company’s investments in money market mutual funds are classified as available-for-sale and carried at fair value.
Inventories 
Inventories. Inventories, which consist primarily of exhibit design and construction materials and supplies used in providing convention show services, are stated at the lower of cost (first-in, first-out and specific identification methods) or market.
Property and Equipment 
Property and Equipment. Property and equipment are stated at cost, net of accumulated depreciation. Property and equipment are depreciated using the straight-line method over the estimated useful lives of the assets: buildings, 15 to 40 years; equipment, 3 to 12 years; and leasehold improvements, over the shorter of the lease term or useful life. Property and equipment are tested for potential impairment whenever events or changes in circumstances indicate that the carrying amount of the long-lived asset may not be recoverable through undiscounted cash flows.
Capitalized Software 
Capitalized Software. Viad capitalizes certain internal and external costs incurred in developing or obtaining internal use software. Capitalized costs principally relate to costs incurred to purchase software from third parties, external direct costs of materials and services, and certain payroll-related costs for employees directly associated with software projects once application development begins. Costs associated with preliminary project activities, training and other post-implementation activities are expensed as incurred. Capitalized software costs are amortized using the straight-line method over the estimated useful lives of the software, ranging from three to ten years. These costs are included in the consolidated balance sheets under the caption “Property and equipment, net.”
Goodwill 
Goodwill. Goodwill is tested for impairment at the reporting unit level on an annual basis on October 31 of each year. Goodwill is also tested for impairment 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 amount. Viad uses a discounted expected future cash flow methodology (income approach) in order to estimate the fair value of its reporting units for purposes of goodwill impairment testing. The estimates and assumptions regarding expected future cash flows, discount rates and terminal values require considerable judgment and are based on market conditions, financial forecasts, industry trends and historical experience. These estimates, however, have inherent uncertainties and different assumptions could lead to materially different results.
Cash Surrender Value of Life Insurance 
Cash Surrender Value of Life Insurance. Viad has Company-owned life insurance contracts which are intended to fund the cost of certain employee compensation and benefit programs. These contracts are carried at cash surrender value, net of outstanding policy loans. The cash surrender value represents the amount of cash the Company could receive if the policies were discontinued before maturity. The changes in the cash surrender value of the policies, net of insurance premiums, are included as a component of “Costs of Services” in the consolidated statements of operations.
Self-Insurance Liabilities 
Self-Insurance Liabilities. Viad is self-insured up to certain limits for workers’ compensation, automobile, product and general liability, property loss and medical claims. Viad has also retained certain liabilities related to workers’ compensation and general liability insurance claims in conjunction with previously sold operations. Provisions for losses for claims incurred, including estimated claims incurred but not yet reported, are made based on Viad’s prior historical experience, claims frequency and other factors. Viad has purchased insurance for amounts in excess of the self-insured levels.
Environmental Remediation Liabilities 
Environmental Remediation Liabilities. Viad has retained certain liabilities representing the estimated cost of environmental remediation obligations primarily associated with previously sold operations. The amounts accrued primarily consist of the estimated direct incremental costs, on an undiscounted basis, for contractor and other services related to remedial actions and post-remediation site monitoring. Environmental remediation liabilities are recorded when the specific obligation is considered probable and the costs are reasonably estimable. Subsequent recoveries from third parties, if any, are recorded through discontinued operations when realized.
Fair Value of Financial Instruments 
Fair Value of Financial Instruments. The carrying values of cash and cash equivalents, receivables and accounts payable approximate fair value due to the short-term maturities of these instruments. The estimated fair value of debt obligations is disclosed in Note 9.
Foreign Currency Translation 
Foreign Currency Translation. Viad conducts its foreign operations primarily in Canada, the United Kingdom, Germany and to a lesser extent in certain other countries. The functional currency of Viad’s foreign subsidiaries is their local currency. Accordingly, for purposes of consolidation, Viad translates the assets and liabilities of its foreign subsidiaries into U.S. dollars at the foreign exchange rates in effect at the balance sheet date. The unrealized gains or losses resulting from the translation of these foreign denominated assets and liabilities are included as a component of accumulated other comprehensive income in Viad’s consolidated balance sheets. In addition, for purposes of consolidation, the revenues, expenses and gains and losses related to Viad’s foreign operations are translated into U.S. dollars at the average foreign exchange rates for the period.
Revenue Recognition 
Revenue Recognition. Viad recognizes revenue when persuasive evidence of an arrangement exists, delivery has occurred or services have been rendered, the sales price is fixed or determinable and collectability is reasonably assured. GES derives revenues primarily by providing show services to exhibitors participating in exhibitions and events and from the design, construction and refurbishment of exhibit booths and holiday themed environments. Service revenue is recognized at the time services are performed. Exhibits and environments revenue is accounted for using the completed-contract method as contracts are typically completed within 3 months of contract signing. The Travel & Recreation Group generates revenues through its attractions, hotels and transportation and sightseeing services. Revenues are recognized at the time services are performed.
Share-Based Compensation 
Share-Based Compensation. Viad recognizes and measures compensation costs related to all share-based payment awards using the fair value method of accounting. These awards generally include restricted stock, performance-based restricted stock (“PBRS”), stock options and liability-based awards (including performance units, restricted stock units and performance-based restricted stock units). These awards contain forfeiture and non-compete provisions.
The fair value of restricted stock and PBRS awards are based on Viad’s stock price on the date of grant. Viad issues restricted stock and PBRS awards from shares held in treasury. Future vesting of restricted stock and PBRS is generally subject to continued employment with Viad or its subsidiaries. Holders of restricted stock and PBRS have the right to receive dividends and vote the shares, but may not sell, assign, transfer, pledge or otherwise encumber the stock, except to the extent restrictions have lapsed.
Restricted stock awards vest between three and five years from the date of grant. Share-based compensation expense related to restricted stock is recognized using the straight-line method over the requisite service period of approximately three years except for certain awards with a five-year vesting period whereby expense is recognized based on an accelerated multiple-award approach over a five-year period. For these awards, 40 percent of the shares vest on the third anniversary of the grant and the remaining shares vest in 30 percent increments over the subsequent two anniversary dates.
Liability-based awards (including restricted stock units and PBRS units awarded to key employees at certain of the Company’s Canadian operations) are recorded at estimated fair value, based on the number of units expected to vest and the level of achievement of predefined performance goals (where applicable) and are remeasured on each balance sheet date based on Viad’s stock price until the time of settlement. To the extent earned, liability-based awards are settled in cash based on Viad’s stock price. Compensation expense related to liability-based awards is recognized ratably over the requisite service period of approximately three years.
Share-based compensation expense related to PBRS awards is recognized based on an accelerated multiple-award approach over the requisite service period of approximately three years. PBRS vests when certain incentive performance targets established in the year of grant are achieved at target levels. PBRS is subject to a graded vesting schedule whereby one third of the earned shares vest after the first year and the remaining earned shares vest in one-third increments each year over the next two years on the first business day in January.
The fair value of each stock option grant is estimated on the date of grant using the Black-Scholes option pricing model. Share-based compensation expense related to stock option awards is recognized using the straight-line method over the requisite service period of approximately five years. The exercise price of stock options is based on the market value of Viad’s common stock at the date of grant.
Common Stock in Treasury 
Common Stock in Treasury. Common stock purchased for treasury is recorded at historical cost. Subsequent share reissuances are primarily related to share-based compensation programs and recorded at weighted-average cost.
Income Per Common Share 
Income Per Common Share. Viad applies the two-class method in calculating income per common share as unvested share-based payment awards that contain nonforfeitable rights to dividends are considered participating securities. Accordingly, such securities are included in the earnings allocation in calculating income per share. Furthermore, Viad funds its matching contributions to employees’ 401(k) accounts through the Company’s leveraged Employee Stock Ownership Plan (“ESOP”) feature of the Company’s 401(k) defined contribution plan. ESOP shares are treated as outstanding for income per share calculations.
Impact of Recent Accounting Pronouncements 
Impact of Recent Accounting Pronouncements
In February 2013, the Financial Accounting Standards Board (“FASB”) issued new guidance related to the reporting of amounts reclassified out of accumulated other comprehensive income, which is codified in Accounting Standards Codification (“ASC”) Topic 220. The new guidance requires entities to provide information about the amounts reclassified out of accumulated other comprehensive income by component. In addition, entities are required to present significant amounts reclassified out of other comprehensive income by the respective line items of net income in certain circumstances, or otherwise cross-reference amounts to other disclosures. The adoption of this new guidance did not have an impact on Viad’s financial condition or results of operations.
Share-Based Compensation (Tables)
Summary of share-based compensation expense 
The following table summarizes share-based compensation expense:
(in thousands)
2013
 
2012
 
2011
Restricted stock/PBRS
$
3,073

 
$
3,267

 
$
3,042

Performance unit incentive plan (“PUP”)
1,864

 
2,922

 
714

Restricted stock units/PBRS units
177

 
450

 
120

Stock options
107

 
593

 
537

Total share-based compensation before income tax benefit
5,221

 
7,232

 
4,413

Income tax benefit
(1,936
)
 
(2,574
)
 
(1,594
)
Total share-based compensation, net of income tax benefit
$
3,285

 
$
4,658

 
$
2,819

Summary of restricted stock and PBRS activity 
Restricted Stock and PBRS. The following table summarizes restricted stock and PBRS activity:
 
Restricted Stock
 
PBRS
 
Shares
 
Weighted-Average
Grant Date
Fair Value
 
Shares
 
Weighted-Average
Grant Date
Fair Value
Balance at January 1, 2011
478,499

 
$
21.51

 
18,830

 
$
33.02

Granted
191,850

 
22.70

 
—

 
—

Vested
(91,212
)
 
31.31

 
(18,414
)
 
33.42

Forfeited
(7,115
)
 
20.81

 
—

 
—

Balance, December 31, 2011
572,022

 
20.36

 
416

 
15.36

Granted
168,050

 
20.46

 
—

 
—

Vested
(219,571
)
 
18.26

 
(416
)
 
15.36

Forfeited
(4,150
)
 
24.80

 
—

 
—

Balance, December 31, 2012
516,351

 
21.25

 
—

 
—

Granted
101,300

 
27.27

 
—

 
—

Vested
(166,320
)
 
20.83

 
—

 
—

Forfeited
(20,432
)
 
22.13

 
—

 
—

Balance, December 31, 2013
430,899

 
22.78

 
—

 
—

Summary of Liability Based Award Activity 
Liability-Based Awards. The following table summarizes the liability-based award activity:
 
PUP Awards
 
Restricted Stock Units
 
PBRS Units
 
Units
 
Weighted-Average
Grant Date
Fair Value
 
Units
 
Weighted-Average
Grant Date
Fair Value
 
Units
 
Weighted-Average
Grant Date
Fair Value
Balance at January 1, 2011
102,960

 
$
33.81

 
26,050

 
$
17.18

 
3,914

 
$
15.36

Granted
95,500

 
23.02

 
12,550

 
23.01

 
—

 
—

Vested
—

 
—

 
—

 
—

 
(1,958
)
 
15.36

Forfeited
(102,960
)
 
33.81

 
—

 
—

 
—

 
—

Balance, December 31, 2011
95,500

 
23.02

 
38,600

 
19.07

 
1,956

 
15.36

Granted
115,100

 
20.60

 
15,850

 
20.57

 
—

 
—

Vested
—

 
—

 
(13,100
)
 
15.36

 
(1,956
)
 
15.36

Forfeited
—

 
—

 
(850
)
 
20.89

 
—

 
—

Balance, December 31, 2012
210,600

 
21.70

 
40,500

 
20.82

 
—

 
—

Granted
93,100

 
27.35

 
8,600

 
27.35

 
—

 
—

Vested
—

 
—

 
(11,300
)
 
19.10

 
—

 
—

Forfeited
(3,932
)
 
21.15

 
(9,240
)
 
22.55

 
—

 
—

Balance, December 31, 2013
299,768

 
23.46

 
28,560

 
22.91

 
—

 
—

Summary of stock option activity 
Stock Options. The following table summarizes stock option activity:
 
Shares
 
Weighted-
Average
Exercise Price
 
Options
Exercisable
Options outstanding at January 1, 2011
763,794

 
$
23.38

 
451,194

Exercised
(14,616
)
 
20.14

 
 
Forfeited or expired
(164,977
)
 
23.88

 
 
Options outstanding at December 31, 2011
584,201

 
23.32

 
396,688

Exercised
(12,099
)
 
19.41

 
 
Forfeited or expired
(208,206
)
 
25.81

 
 
Options outstanding at December 31, 2012
363,896

 
22.03

 
276,009

Exercised
(59,543
)
 
19.42

 
 
Forfeited or expired(1)
(15,853
)
 
40.45

 
 
Award modification
25,823

 
N/A

 
 
Options outstanding at December 31, 2013
314,323

 
19.79

 
314,323

Summary of information on stock options outstanding and exercisable 
The following table summarizes information concerning stock options outstanding and exercisable as of December 31, 2013:
 
Options Outstanding
 
Options Exercisable
 
 
 
Weighted-Average
Remaining Contractual Life (in years)
 
Weighted-
Average Exercise Price
 
 
 
Weighted-
Average Exercise Price
Range of Exercise Prices:
Shares
 
 
 
Shares
 
$17.62
262,788

 
5.7
 
$
17.62

 
262,788

 
$
17.62

$22.85
10,895

 
1.9
 
22.85

 
10,895

 
22.85

$31.03
22,118

 
1.2
 
31.03

 
22,118

 
31.03

$35.28
18,522

 
0.1
 
35.28

 
18,522

 
35.28

$17.62 to $35.28
314,323

 
5.1
 
19.79

 
314,323

 
19.79

Summary of additional information on stock options 
Additional information pertaining to stock options is provided in the table below:
(in thousands)
2013
 
2012
 
2011
Total intrinsic value of stock options outstanding
$
2,723

 
$
2,329

 
$
—

Total intrinsic value of stock options exercised
$
1,611

 
$
296

 
$
325

Fair value of stock options vested
$
532

 
$
539

 
$
682

Cash received from the exercise of stock options
$
777

 
$
248

 
$
296

Tax benefits (deficiencies) realized for tax deductions related to stock option exercises and performance-based awards
$
404

 
$
96

 
$
(325
)
Acquisition of Businesses (Tables)
Unaudited pro forma results of operations attributable to Viad 
The following table summarizes the unaudited pro forma results of operations attributable to Viad, assuming that the acquisitions above had each been completed at the beginning of each year:
(in thousands, except per share data)
2013
 
2012
 
2011
Revenue
$
973,039

 
$
1,027,107

 
$
956,570

Depreciation and amortization
28,697

 
31,131

 
30,648

Segment operating income
45,919

 
41,859

 
28,602

Income from continuing operations
20,444

 
5,269

 
10,674

Net income attributable to Viad
21,572

 
5,893

 
11,125

Diluted net income per share
1.06

 
0.29

 
0.45

Basic net income per share
1.06

 
0.29

 
0.45

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed 
The following information represents the aggregate amounts assigned to the assets and liabilities of the acquisitions that occurred during 2011:
(in thousands)
 
Cash and cash equivalents
$
30

Other current assets
870

Property and equipment
32,905

Goodwill
7,645

Other intangible assets
1,086

Total assets acquired
42,536

Customer deposits
(821
)
Other current liabilities
(198
)
Other long-term liabilities
(382
)
Total liabilities acquired
(1,401
)
Purchase price
$
41,135

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed 
The following information represents the final amounts assigned to the assets and liabilities of the Banff International Hotel as of the date of acquisition:
(in thousands)
 
Cash and cash equivalents
$
10

Accounts receivable
23

Other current assets
33

Property and equipment
20,408

Goodwill
1,890

Other intangible assets
1,323

Total assets acquired
23,687

Customer deposits
(64
)
Other current liabilities
(67
)
Total liabilities acquired
(131
)
Purchase price
$
23,556

Inventories (Tables)
Components of Inventories
The components of inventories as of December 31 were as follows:
(in thousands)
2013
 
2012
Raw materials
$
14,825

 
$
16,422

Work in process
13,168

 
19,234

Inventories
$
27,993

 
$
35,656

Property and Equipment (Tables)
Schedule of Property and Equipment
Property and equipment as of December 31 consisted of the following:
(in thousands)
2013
 
2012
Land and land interests
$
23,646

 
$
26,124

Buildings and leasehold improvements
139,889

 
137,293

Equipment and other
294,409

 
310,448

Gross property and equipment
457,944

 
473,865

Accumulated depreciation
(267,614
)
 
(276,567
)
Property and equipment, net
$
190,330

 
$
197,298

Other Investments and Assets (Tables)
Summary of other investments and assets
As of December 31 other investments and assets consisted of the following:
(in thousands)
2013
 
2012
Cash surrender value of life insurance
$
19,690

 
$
19,142

Workers’ compensation insurance security deposits
3,350

 
3,350

Other
11,986

 
9,924

Total other investments and assets
$
35,026

 
$
32,416

Goodwill and Other Intangible Assets (Tables)
Summary of the goodwill balances by component and segment 
The changes in the carrying amount of goodwill were as follows:
(in thousands)
Marketing &
Events U.S.
 
Marketing &
Events
International
 
Travel &
Recreation
Group
 
Total
Balance at January 1, 2012
$
62,686

 
$
22,198

 
$
48,810

 
$
133,694

Business acquisitions
—

 
—

 
1,890

 
1,890

Foreign currency translation adjustments
—

 
856

 
1,380

 
2,236

Balance at December 31, 2012
62,686

 
23,054

 
52,080

 
137,820

Goodwill impairment charge
—

 
—

 
(4,461
)
 
(4,461
)
Business acquisition
—

 
158

 
—

 
158

Foreign currency translation adjustments
—

 
(601
)
 
(3,373
)
 
(3,974
)
Balance at December 31, 2013
$
62,686

 
$
22,611

 
$
44,246

 
$
129,543

Goodwill by reporting unit and segment 
The following table summarizes goodwill by reporting unit and segment as of December 31:
(in thousands)
2013
 
2012
Marketing & Events Group:
 
 
 
Marketing & Events U.S.
$
62,686

 
$
62,686

Marketing & Events International:
 
 
 
GES United Kingdom
14,049

 
13,894

GES Canada
8,562

 
9,160

Total Marketing & Events Group
85,297

 
85,740

Travel & Recreation Group:
 
 
 
Brewster
41,062

 
44,435

Alaska Denali Travel
3,184

 
3,184

Glacier Park
—

 
4,461

Total Travel & Recreation Group
44,246

 
52,080

Total Goodwill
$
129,543

 
$
137,820

Summary of other intangible assets 
A summary of other intangible assets as of December 31, 2013 is presented below:
(in thousands)
Gross Carrying
Value
 
Accumulated
Amortization
 
Net Carrying
Value
Amortized intangible assets:
 
 
 
 
 
Customer contracts and relationships
$
5,537

 
$
(2,521
)
 
$
3,016

Other
1,280

 
(276
)
 
1,004

Total amortized intangible assets
6,817

 
(2,797
)
 
4,020

Unamortized intangible assets:
 
 
 
 
 
Business licenses
460

 
—

 
460

Total
$
7,277

 
$
(2,797
)
 
$
4,480


A summary of other intangible assets as of December 31, 2012 is presented below:
(in thousands)
Gross Carrying
Value
 
Accumulated
Amortization
 
Net Carrying
Value
Amortized intangible assets:
 
 
 
 
 
Customer contracts and relationships
$
3,594

 
$
(2,384
)
 
$
1,210

Other
959

 
(108
)
 
851

Total amortized intangible assets
4,553

 
(2,492
)
 
2,061

Unamortized intangible assets:
 
 
 
 
 
Business licenses
460

 
—

 
460

Total
$
5,013

 
$
(2,492
)
 
$
2,521

Estimated amortization expense related to amortized intangible assets 
Estimated amortization expense related to amortized intangible assets for future years is expected to be as follows:
(in thousands)
 
2014
$
996

2015
$
795

2016
$
671

2017
$
553

2018
$
442

Thereafter
$
563

Accrued Liabilities and Other (Tables)
Other current liabilities 
As of December 31 other current liabilities consisted of the following:
(in thousands)
2013
 
2012
Continuing operations:
 
 
 
Customer deposits
$
29,207

 
$
50,172

Accrued compensation
15,113

 
25,067

Self-insured liability accrual
7,603

 
8,501

Accrued restructuring
3,877

 
4,084

Accrued employee benefit costs
2,751

 
3,132

Accrued dividends
2,192

 
2,053

Accrued sales and use taxes
1,609

 
3,179

Accrued foreign income taxes
565

 
28

Other
9,573

 
9,998

Total continuing operations
72,490

 
106,214

Discontinued operations:
 
 
 
Self-insured liability accrual
469

 
527

Environmental remediation liabilities
353

 
571

Other
177

 
372

Total discontinued operations
999

 
1,470

Total other current liabilities
$
73,489

 
$
107,684

Other deferred items and liabilities 
As of December 31 other deferred items and liabilities consisted of the following:
(in thousands)
2013
 
2012
Continuing operations:
 
 
 
Self-insured liability accrual
$
17,316

 
$
15,579

Accrued compensation
8,349

 
8,061

Foreign deferred tax liability
1,989

 
2,024

Accrued restructuring
1,919

 
3,140

Other
7,552

 
6,734

Total continuing operations
37,125

 
35,538

Discontinued operations:
 
 
 
Environmental remediation liabilities
4,666

 
4,745

Self-insured liability accrual
4,489

 
5,188

Accrued income taxes
1,085

 
1,053

Other
1,254

 
1,304

Total discontinued operations
11,494

 
12,290

Total other deferred items and liabilities
$
48,619

 
$
47,828

Debt (Tables)
Long-term capital lease obligation 
Long-term debt as of December 31 was as follows:
(in thousands, except interest rates)
2013
 
2012
Revolving credit agreement, 2.2% (2013) weighted-average interest rate at December 31, 2013

$
10,000

 
$
—

Capital lease obligations, 6.9% (2013) and 6.4% (2012) weighted-average interest rate at December 31, due to 2017
1,668

 
2,226

Total debt
11,668

 
2,226

Current portion
(10,903
)
 
(1,347
)
Long-term capital lease obligations
$
765

 
$
879

Aggregate annual maturities of capital lease obligations 
Aggregate annual maturities of long-term debt and capital lease obligations as of December 31, 2013 are as follows:
(in thousands)
Revolving Credit Agreement
 
Capital Lease Obligations
2014
$
10,000

 
$
984

2015
—

 
609

2016
—

 
186

2017
—

 
32

2018
—

 
2

Total
$
10,000

 
1,813

Less: Amount representing interest
 
 
(145
)
Present value of minimum lease payments
 
 
$
1,668

Fair Value Measurements (Tables)
Fair Value, Assets Measured on Recurring Basis 
The fair value information related to these assets is summarized in the following tables:
 
 
 
Fair Value Measurements at Reporting Date Using
(in thousands)
December 31, 2013
 
Quoted Prices in
Active
Markets
(Level 1)
 
Significant
Other
Observable
Inputs
(Level 2)
 
Significant
Unobserved
Inputs
(Level 3)
Assets:
 
 
 
 
 
 
 
Money market funds
$
118

 
$
118

 
$
—

 
$
—

Other mutual funds
2,023

 
2,023

 
—

 
—

Total assets at fair value on a recurring basis
$
2,141

 
$
2,141

 
$
—

 
$
—

 
 
 
Fair Value Measurements at Reporting Date Using
(in thousands)
December 31, 2012
 
Quoted Prices
in Active
Markets
(Level 1)
 
Significant
Other
Observable
Inputs
(Level 2)
 
Significant
Unobserved
Inputs
(Level 3)
Assets:
 
 
 
 
 
 
 
Money market funds
$
10,177

 
$
10,177

 
$
—

 
$
—

Other mutual funds
1,239

 
1,239

 
—

 
—

Total assets at fair value on a recurring basis
$
11,416

 
$
11,416

 
$
—

 
$
—

Fair Value Measurements, Nonrecurring 
The fair value information related to these assets is summarized in the following table:
 
 
 
Fair Value Measurements at Reporting Date Using
 
 
(in thousands)
December 31, 2013
 
Quoted Prices in
Active
Markets
(Level 1)
 
Significant
Other
Observable
Inputs
(Level 2)
 
Significant
Unobserved
Inputs
(Level 3)
 
Total Gains (Losses)
Assets:
 
 
 
 
 
 
 
 
 
Goodwill (1)
$
—

 
$
—

 
$
—

 
$
—

 
$
(4,461
)
Property and equipment(1)
—

 
—

 
—

 
—

 
(952
)
Total assets at fair value on a non-recurring basis
$
—

 
$
—

 
$
—

 
$
—

 
$
(5,413
)
(1) See Notes 5 and 7 for details of the impairment charges.
Income Per Share (Tables)
Reconciliation of basic and diluted income per share
The following are the components of basic and diluted income per share:
(in thousands, except per share data)
2013
 
2012
 
2011
Net income attributable to Viad (diluted)
$
21,555

 
$
5,897

 
$
9,210

Less: Allocation to non-vested shares
(485
)
 
(157
)
 
(248
)
Net income allocated to Viad common stockholders (basic)
$
21,070

 
$
5,740

 
$
8,962

Basic weighted-average outstanding common shares
19,850

 
19,701

 
19,719

Additional dilutive shares related to share-based compensation
415

 
304

 
336

Diluted weighted-average outstanding shares
20,265

 
20,005

 
20,055

Income per share:
 
 
 
 
 
Basic income attributable to Viad common stockholders
$
1.06

 
$
0.29

 
$
0.45

Diluted income attributable to Viad common stockholders(1)
$
1.06

 
$
0.29

 
$
0.45

(1) Diluted income per share amount cannot exceed basic income per share.
Employee Stock Ownership Feature of 401Plan (Tables)
Employee Stock Ownership Plan
Information regarding ESOP transactions is as follows:
(in thousands)
2013
 
2012
 
2011
Amounts paid by ESOP for:
 
 
 
 
 
Debt repayment
$
1,280

 
$
1,647

 
$
1,490

Interest
1

 
5

 
8

Amounts received from Viad as:
 
 
 
 
 
Contributions
1,202

 
1,604

 
1,435

Dividends
79

 
48

 
63

Accumulated Other Comprehensive Income (Tables)
Schedule of Accumulated Other Comprehensive Income (Loss) 
Changes in accumulated other comprehensive income (“AOCI”) by component were as follows:
(in thousands)
 
Unrealized Gains on Investments
 
Cumulative Foreign Currency Translation Adjustments
 
Unrecognized Net Actuarial Loss and Service Credit
 
Accumulated Other Comprehensive Income
Balance at January 1, 2013
 
$
275

 
$
42,158

 
$
(14,968
)
 
$
27,465

Other comprehensive income before reclassifications
 
215

 
(11,311
)
 
3,421

 
(7,675
)
Amounts reclassified from AOCI, net of tax
 
(61
)
 
—

 
288

 
227

Net other comprehensive income (loss)
 
154

 
(11,311
)
 
3,709

 
(7,448
)
Balance at December 31, 2013
 
$
429

 
$
30,847

 
$
(11,259
)
 
$
20,017

Reclassification out of Accumulated Other Comprehensive Income 
The following table presents information about reclassification adjustments out of AOCI:
(in thousands)
 
2013
 
2012
 
Affected Line Item in the Statement Where Net Income is Presented
Unrealized gains on investments
 
$
99

 
$
92

 
Interest income
Tax effect
 
(38
)
 
(35
)
 
Income taxes
 
 
$
61

 
$
57

 
Net of tax
 
 
 
 
 
 
 
Recognized net actuarial loss
 
$
(1,349
)
 
$
(1,239
)
 
See Note 16
Amortization of prior service credit
 
902

 
1,113

 
See Note 16
Tax effect
 
159

 
42

 
Income taxes
 
 
$
(288
)
 
$
(84
)
 
Net of tax
Income Taxes (Tables)
Reconciliation of income tax expense 
The following represents a reconciliation of income tax expense and the amount that would be computed using the statutory federal income tax rates:
(in thousands)
2013
 
2012
 
2011
Computed income tax expense at statutory federal income tax rate of 35%
$
10,201

 
35.0
 %
 
$
9,381

 
35.0
 %
 
$
4,613

 
35.0
 %
State income taxes, net of federal provision
345

 
1.2
 %
 
470

 
1.8
 %
 
(100
)
 
(0.8
)%
Foreign tax rate differentials
77

 
0.3
 %
 
(2,031
)
 
(7.6
)%
 
(1,679
)
 
(12.7
)%
U.S. tax on foreign earnings (net of foreign tax credits)
(1,831
)
 
(6.3
)%
 
(595
)
 
(2.2
)%
 
1,105

 
8.4
 %
Tax resolutions, net
—

 
—
 %
 
—

 
—
 %
 
(103
)
 
(0.8
)%
Change in valuation allowance
(2,184
)
 
(7.5
)%
 
14,220

 
53.1
 %
 
(55
)
 
(0.4
)%
Proceeds from life insurance
(196
)
 
(0.7
)%
 
(472
)
 
(1.8
)%
 
—

 
—
 %
Return to provision and other adjustments
1,664

 
5.7
 %
 
(371
)
 
(1.4
)%
 
(43
)
 
(0.3
)%
Other, net
514

 
1.8
 %
 
241

 
0.9
 %
 
150

 
1.1
 %
Income tax expense
$
8,590

 
29.5
 %
 
$
20,843

 
77.8
 %
 
$
3,888

 
29.5
 %
Schedule of Unrecognized Tax Benefits 
(in thousands)
Continuing
Operations
 
Discontinued
Operations
 
Total
Balance, January 1, 2011
$
—

 
$
636

 
$
636

Reductions for tax positions taken in prior years
—

 
—

 
—

Reductions for tax settlements
—

 
—

 
—

Reductions for lapse of applicable statutes
—

 
—

 
—

Balance at December 31, 2011
—

 
636

 
636

Reductions for tax positions taken in prior years
—

 
—

 
—

Reductions for tax settlements
—

 
—

 
—

Reductions for lapse of applicable statutes
—

 
—

 
—

Balance at December 31, 2012
—

 
636

 
636

Additions for tax positions taken in prior years
736

 
—

 
736

Reductions for tax positions taken in prior years
—

 
—

 
—

Reductions for tax settlements
—

 
—

 
—

Reductions for lapse of applicable statutes
—

 
—

 
—

Balance at December 31, 2013
$
736

 
$
636

 
$
1,372

Schedule of Deferred Tax Assets and Liabilities 
(in thousands)
2013
 
2012
Deferred tax assets:
 
 
 
Tax credit carryforwards
$
26,945

 
$
25,290

Pension, compensation and other employee benefits
23,835

 
31,782

Provisions for losses
13,674

 
15,229

Net operating loss carryforward
4,794

 
1,755

State income taxes
2,170

 
2,813

Other deferred income tax assets
5,552

 
5,331

Total deferred tax assets
76,970

 
82,200

Valuation allowance
(12,393
)
 
(14,576
)
Foreign deferred tax assets included above
(1,713
)
 
(990
)
Net deferred tax assets
62,864

 
66,634

Deferred tax liabilities:
 
 
 
Property and equipment
(7,861
)
 
(8,801
)
Deferred tax related to life insurance
(4,842
)
 
(4,992
)
Goodwill and other intangible assets
(959
)
 
(1,306
)
Unremitted foreign earnings
(398
)
 
(978
)
Other deferred income tax liabilities
(393
)
 
(176
)
Total deferred tax liabilities
(14,453
)
 
(16,253
)
Foreign deferred tax liabilities included above
1,989

 
2,024

United States deferred tax assets
$
50,400

 
$
52,405

Schedule of Income Tax Expense 
Income tax expense consisted of the following:
(in thousands)
2013
 
2012
 
2011
Current:
 
 
 
 
 
United States:
 
 
 
 
 
Federal
$
(2,134
)
 
$
(272
)
 
$
(4,643
)
State
(286
)
 
2,189

 
1,292

Foreign
9,606

 
7,652

 
8,163

Total current
7,186

 
9,569

 
4,812

Deferred:
 
 
 
 
 
United States:
 
 
 
 
 
Federal
1,113

 
11,127

 
992

State
651

 
40

 
(1,560
)
Foreign
(360
)
 
107

 
(356
)
Total deferred
1,404

 
11,274

 
(924
)
Income tax expense
$
8,590

 
$
20,843

 
$
3,888

Schedule of Domestic and Foreign Income Before Income Tax 
United States and foreign income from continuing operations before income taxes was as follows:
(in thousands)
2013
 
2012
 
2011
Foreign
$
25,010

 
$
29,645

 
$
29,407

United States
4,138

 
(2,843
)
 
(16,227
)
Income from continuing operations before income taxes
$
29,148

 
$
26,802

 
$
13,180

Pension and Postretirement Benefits (Tables)
Components of net periodic benefit cost and other amounts recognized in other comprehensive income of Viad's postretirement benefit plans 
The components of net periodic benefit cost and other amounts recognized in other comprehensive income of Viad’s pension plans included the following:
(in thousands)
2013
 
2012
 
2011
Net periodic benefit cost:
 
 
 
 
 
Service cost
$
66

 
$
104

 
$
121

Interest cost
1,030

 
1,150

 
1,189

Expected return on plan assets
(400
)
 
(406
)
 
(563
)
Recognized net actuarial loss
583

 
491

 
457

Net periodic benefit cost
1,279

 
1,339

 
1,204

Other changes in plan assets and benefit obligations recognized in other comprehensive income:
 
 
 
 
 
Net actuarial loss (gain)
(2,565
)
 
1,942

 
1,589

Reversal of amortization item:
 
 
 
 
 
Net actuarial loss
(583
)
 
(491
)
 
(457
)
Total recognized in other comprehensive income (loss)
(3,148
)
 
1,451

 
1,132

Total recognized in net periodic benefit cost and other comprehensive income (loss)
$
(1,869
)
 
$
2,790

 
$
2,336


The components of net periodic benefit cost and other amounts recognized in other comprehensive income of Viad’s postretirement benefit plans included the following:
(in thousands)
2013
 
2012
 
2011
Net periodic benefit cost:
 
 
 
 
 
Service cost
$
156

 
$
146

 
$
128

Interest cost
663

 
814

 
868

Expected return on plan assets
—

 
(74
)
 
(135
)
Amortization of prior service credit
(902
)
 
(1,113
)
 
(1,277
)
Recognized net actuarial loss
518

 
547

 
533

Net periodic benefit cost
435

 
320

 
117

Other changes in plan assets and benefit obligations recognized in other comprehensive income:
 
 
 
 
 
Net actuarial loss (gain)
(1,496
)
 
224

 
24

Prior service credit
(40
)
 
—

 
—

Reversal of amortization item:
 
 
 
 
 
Net actuarial loss
(518
)
 
(547
)
 
(533
)
Prior service credit
902

 
1,113

 
1,277

Total recognized in other comprehensive income (loss)
(1,152
)
 
790

 
768

Total recognized in net periodic benefit cost and other comprehensive income (loss)
$
(717
)
 
$
1,110

 
$
885

Summary of funded status of the plans 
The following table indicates the funded status of the plans as of December 31:
 
 
 
 
 
 
 
 
 
Postretirement
Benefit Plans
 
Funded Plans
 
Unfunded Plans
 
(in thousands)
2013
 
2012
 
2013
 
2012
 
2013
 
2012
Change in benefit obligation:
 
 
 
 
 
 
 
 
 
 
 
Benefit obligation at beginning of year
$
15,348

 
$
13,938

 
$
11,570

 
$
10,883

 
$
18,701

 
$
18,667

Service cost
—

 
—

 
66

 
104

 
156

 
146

Interest cost
608

 
659

 
422

 
491

 
663

 
814

Actuarial adjustments
(1,530
)
 
1,419

 
(856
)
 
799

 
(1,631
)
 
250

Plan amendments
—

 
—

 
—

 
—

 
(40
)
 
—

Benefits paid
(991
)
 
(668
)
 
(666
)
 
(707
)
 
(930
)
 
(1,176
)
Benefit obligation at end of year
13,435

 
15,348

 
10,536

 
11,570

 
16,919

 
18,701

Change in plan assets:
 
 
 
 
 
 
 
 
 
 
 
Fair value of plan assets at beginning of year
10,624

 
9,846

 
—

 
—

 
1,397

 
2,118

Actual return on plan assets
580

 
683

 
—

 
—

 
(135
)
 
100

Company contributions
659

 
763

 
666

 
707

 
188

 
355

Benefits paid
(991
)
 
(668
)
 
(666
)
 
(707
)
 
(930
)
 
(1,176
)
Fair value of plan assets at end of year
10,872

 
10,624

 
—

 
—

 
520

 
1,397

Funded status at end of year
$
(2,563
)
 
$
(4,724
)
 
$
(10,536
)
 
$
(11,570
)
 
$
(16,399
)
 
$
(17,304
)
Fair value of plans' assets by asset class 
The fair value of the domestic plans’ assets by asset class was as follows:
 
 
 
Fair Value Measurements at December 31, 2013
 
 
 
Quoted Prices
in Active
Markets
 
Significant
Other
Observable
Inputs
 
Significant
Unobserved
Inputs
(in thousands)
Total
 
(Level 1)
 
(Level 2)
 
(Level 3)
Domestic pension plans:
 
 
 
 
 
 
 
Fixed income securities
$
5,966

 
$
5,966

 
$
—

 
$
—

U.S. equity securities
4,542

 
4,542

 
—

 
—

Cash
147

 
147

 
—

 
—

Other
217

 
—

 
217

 
—

Total
$
10,872

 
$
10,655

 
$
217

 
$
—

Postretirement benefit plans:
 
 
 
 
 
 
 
Fixed income securities
$
407

 
$
407

 
$
—

 
$
—

U.S. equity securities
109

 
109

 
—

 
—

Cash
4

 
4

 
—

 
—

Total
$
520

 
$
520

 
$
—

 
$
—

 
 
 
Fair Value Measurements at December 31, 2012
 
 
 
Quoted Prices
in Active
Markets
 
Significant
Other
Observable
Inputs
 
Significant
Unobserved
Inputs
(in thousands)
Total
 
(Level 1)
 
(Level 2)
 
(Level 3)
Domestic pension plans:
 
 
 
 
 
 
 
Cash
$
10,401

 
$
10,401

 
$
—

 
$
—

Other
223

 
—

 
223

 
—

Total
$
10,624

 
$
10,401

 
$
223

 
$
—

Postretirement benefit plans:
 
 
 
 
 
 
 
Cash
$
1,397

 
$
1,397

 
$
—

 
$
—

Payments and receipts reflecting expected future service 
The following pension and postretirement benefit payments, which reflect expected future service, as appropriate, are expected to be paid, as well as the Medicare Part D subsidy expected to be received:
(in thousands)
Funded
Plans
 
Unfunded
Plans
 
Postretirement
Benefit
Plans
 
Medicare
Part D Subsidy
Receipts
2014
$
853

 
$
729

 
$
1,739

 
$
254

2015
879

 
716

 
1,702

 
254

2016
830

 
806

 
1,691

 
253

2017
865

 
827

 
1,649

 
251

2018
857

 
894

 
1,609

 
247

2019-2022
4,668

 
4,211

 
7,330

 
1,169

Net amount recognized in Viad's consolidated balance sheets 
The net amounts recognized in Viad’s consolidated balance sheets under the caption “Pension and postretirement benefits” as of December 31 were as follows:
 
 
 
 
 
 
 
 
 
Postretirement
Benefit Plans
 
Funded Plans
 
Unfunded Plans
 
(in thousands)
2013
 
2012
 
2013
 
2012
 
2013
 
2012
Other current liabilities
$
—

 
$
—

 
$
713

 
$
816

 
$
928

 
$
392

Non-current liabilities
2,563

 
4,724

 
9,823

 
10,754

 
15,471

 
16,912

Net amount recognized
$
2,563

 
$
4,724

 
$
10,536

 
$
11,570

 
$
16,399

 
$
17,304

Amounts recognized in accumulated other comprehensive income 
Amounts recognized in accumulated other comprehensive income as of December 31, 2013 consisted of:
(in thousands)
Funded
Plans
 
Unfunded
Plans
 
Postretirement
Benefit Plans
 
Total
Net actuarial loss
$
6,972

 
$
3,480

 
$
4,692

 
$
15,144

Prior service credit
—

 
—

 
(2,038
)
 
(2,038
)
Subtotal
6,972

 
3,480

 
2,654

 
13,106

Less tax effect
(2,644
)
 
(1,320
)
 
(1,006
)
 
(4,970
)
Total
$
4,328

 
$
2,160

 
$
1,648

 
$
8,136

Amounts recognized in accumulated other comprehensive income as of December 31, 2012 consisted of:
(in thousands)
Funded
Plans
 
Unfunded
Plans
 
Postretirement
Benefit Plans
 
Total
Net actuarial loss
$
9,052

 
$
4,548

 
$
6,706

 
$
20,306

Prior service credit
—

 
—

 
(2,900
)
 
(2,900
)
Subtotal
9,052

 
4,548

 
3,806

 
17,406

Less tax effect
(3,433
)
 
(1,725
)
 
(1,443
)
 
(6,601
)
Total
$
5,619

 
$
2,823

 
$
2,363

 
$
10,805

Accumulated benefit obligation in excess of plan assets 
The accumulated benefit obligations in excess of plan assets as of December 31 were as follows:
 
Domestic Plans
 
Funded Plans
 
Unfunded Plans
(in thousands)
2013
 
2012
 
2013
 
2012
Projected benefit obligation
$
13,435

 
$
15,348

 
$
10,536

 
$
11,570

Accumulated benefit obligation
13,435

 
15,348

 
10,227

 
11,322

Fair value of plan assets
10,872

 
10,624

 
—

 
—

 
 
Foreign Plans
 
Funded Plans
 
Unfunded Plans
(in thousands)
2013
 
2012
 
2013
 
2012
Projected benefit obligation
$
11,460

 
$
15,387

 
$
2,911

 
$
3,032

Accumulated benefit obligation
10,823

 
14,307

 
2,911

 
3,032

Fair value of plan assets
11,560

 
12,997

 
—

 
—

Weighted-average assumptions used to determine benefit obligations 
Weighted-average assumptions used to determine benefit obligations as of December 31 were as follows:
 
Domestic Plans
 
 
 
 
 
Funded Plans
 
Unfunded Plans
 
Postretirement
Benefit Plans
 
Foreign Plans
 
2013
 
2012
 
2013
 
2012
 
2013
 
2012
 
2013
 
2012
Discount rate
4.89
%
 
4.11
%
 
4.60
%
 
3.80
%
 
4.65
%
 
3.85
%
 
4.67
%
 
4.06
%
Rate of compensation increase
N/A

 
N/A

 
3.00
%
 
4.50
%
 
N/A

 
N/A

 
3.00
%
 
3.00
%
Weighted-average assumptions used to determine net periodic benefit cost were as follows:
 
Domestic Plans
 
 
 
 
 
 
 
 
 
 
 
 
 
Postretirement
Benefit Plans
 
 
 
 
 
Funded Plans
 
Unfunded Plans
 
 
Foreign Plans
 
2013
 
2012
 
2013
 
2012
 
2013
 
2012
 
2013
 
2012
Discount rate
4.09
%
 
4.93
%
 
3.80
%
 
4.75
%
 
3.85
%
 
4.70
%
 
4.03
%
 
4.65
%
Expected return on plan assets
3.90
%
 
4.20
%
 
N/A

 
N/A

 
0.00
%
 
4.65
%
 
5.44
%
 
5.45
%
Rate of compensation increase
N/A

 
N/A

 
4.50
%
 
4.50
%
 
N/A

 
N/A

 
3.00
%
 
3.00
%
Multi-employer pension plans 
The “FIP/RP Status Pending/Implemented” column indicates plans for which a financial improvement plan or a rehabilitation plan is either pending or has been implemented.
  
 
 
Plan
 
Pension
Protection Act
Zone Status
 
FIP/RP
Status
Pending/ Implemented
 
Viad Contributions
 
Surcharge Paid
 
Expiration
Date of
Collective-
Bargaining Agreement(s)
(in thousands)
EIN
 
No.
 
2013
 
2012
 
 
2013
 
2012
 
2011
 
 
Pension Fund:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Western Conference of Teamsters Pension Plan
91-6145047
 
1

 
Green
 
Green
 
No
 
$
5,524

 
$
5,694

 
$
5,720

 
No
 
3/31/14 to 5/31/15

Southern California Local 831—Employer Pension Fund(1)
95-6376874
 
1

 
Green
 
Green
 
No
 
2,244

 
2,358

 
2,232

 
No
 
8/31/14
National Electrical Benefit Fund
53-0181657
 
1

 
Green
 
Green
 
No
 
1,631

 
1,814

 
1,691

 
No
 
5/31/14 to 6/16/14
Chicago Regional Council of Carpenters Pension Fund(2)
36-6130207
 
1

 
Yellow
 
Yellow
 
Yes
 
1,614

 
1,749

 
1,411

 
No
 
5/31/14
Electrical Contractors Assoc. Chicago Local Union 134, IBEW Joint Pension Trust of Chicago Plan #2
51-6030753
 
2

 
Green
 
Green
 
No
 
957

 
108

 
—

 
No
 
6/3/14
Central States, Southeast and Southwest Areas Pension Plan
36-6044243
 
1

 
Red
 
Red
 
Yes
 
836

 
874

 
725

 
No
 
7/31/15
Southwest Carpenters Pension Trust
95-6042875
 
1

 
Green
 
Green
 
No
 
812

 
944

 
1,031

 
No
 
6/30/15
Machinery Movers Riggers & Mach Erect Local 136 Supplemental Retirement Plan(1),(2)
36-1416355
 
1

 
Red
 
Red
 
Yes
 
430

 
930

 
386

 
No
 
6/30/14
Nevada Resort Association IATSE Local 720 Retirement Plan
51-0144767
 
1

 
Red
 
Red
 
Yes
 
367

 
516

 
329

 
No
 
12/31/14
Sign Pictorial & Display Industry Pension Plan
94-6278490
 
1

 
Green
 
Green
 
No
 
367

 
196

 
191

 
No
 
3/31/15
Carpenters Retirement Plan of Western Washington
91-6029051
 
1

 
Green
 
Green
 
No
 
357

 
357

 
286

 
No
 
5/31/13
New England Teamsters & Trucking Industry Pension(3)
04-6372430
 
1

 
Yellow
 
Red
 
Yes
 
347

 
334

 
339

 
No
 
3/31/17
Steelworkers Pension Trust
23-6648508
 
499

 
Green
 
Green
 
No
 
266

 
326

 
422

 
No
 
3/31/13 to 2/28/15
All other funds(4)
 
 
 
 
 
 
 
 
 
 
2,592

 
2,468

 
2,946

 
 
 
 
Total contributions to defined benefit plans
 
 
 
 
 
 
 
 
 
 
18,344

 
18,668

 
17,709

 
 
 
 
Total contributions to other plans
 
 
 
 
 
 
 
 
 
 
1,969

 
2,001

 
1,892

 
 
 
 
Total contributions to multi-employer plans
 
 
 
 
 
 
 
 
 
 
$
20,313

 
$
20,669

 
$
19,601

 
 
 
 
(1) The Company contributed more than 5 percent of total plan contributions for the 2012 and 2011 plan years based on the plans’ Form 5500s.
(2) Zone status as of 6/30/12 and 6/30/11.
(3) Zone status as of 9/30/12 and 9/30/11.
(4) Represents participation in 37 pension funds during 2013.
Components of net periodic benefit cost and other amounts recognized in other comprehensive income of Viad's postretirement benefit plans 
(in thousands)
2013
 
2012
 
2011
Net periodic benefit cost:
 
 
 
 
 
Service cost
$
534

 
$
491

 
$
366

Interest cost
702

 
737

 
729

Expected return on plan assets
(698
)
 
(622
)
 
(665
)
Recognized net actuarial loss
248

 
201

 
73

Net periodic benefit cost
786

 
807

 
503

Other changes in plan assets and benefit obligations recognized in other comprehensive income:
 
 
 
 
 
Net actuarial loss (gain)
(1,214
)
 
958

 
1,936

Reversal of amortization of net actuarial loss
(248
)
 
(201
)
 
(73
)
Total recognized in other comprehensive income (loss)
(1,462
)
 
757

 
1,863

Total recognized in net periodic benefit cost and other comprehensive income (loss)
$
(676
)
 
$
1,564

 
$
2,366

Summary of funded status of the plans 
The following table represents the funded status of the plans as of December 31:
 
Funded Plans
 
Unfunded Plans
(in thousands)
2013
 
2012
 
2013
 
2012
Change in benefit obligation:
 
 
 
 
 
 
 
Benefit obligation at beginning of year
$
15,387

 
$
13,141

 
$
3,032

 
$
2,939

Service cost
534

 
491

 
—

 
—

Interest cost
582

 
607

 
120

 
130

Actuarial adjustments
(473
)
 
1,086

 
44

 
113

Benefits paid
(3,644
)
 
(328
)
 
(219
)
 
(220
)
Translation adjustment
(926
)
 
390

 
(66
)
 
70

Benefit obligation at end of year
11,460

 
15,387

 
2,911

 
3,032

Change in plan assets:
 
 
 
 
 
 
 
Fair value of plan assets at beginning of year
12,997

 
11,028

 
—

 
—

Actual return on plan assets
1,148

 
860

 
—

 
—

Company contributions
1,892

 
1,111

 
219

 
220

Benefits paid
(3,644
)
 
(328
)
 
(219
)
 
(220
)
Translation adjustment
(833
)
 
326

 
—

 
—

Fair value of plan assets at end of year
11,560

 
12,997

 
—

 
—

Funded status at end of year
$
100

 
$
(2,390
)
 
$
(2,911
)
 
$
(3,032
)
Fair value of plans' assets by asset class 
The fair value of the foreign pension plans’ assets by asset category were as follows:
 
 
 
Fair Value Measurements at December 31, 2013
(in thousands)
Total
 
Quoted Prices
in Active
Markets
(Level 1)
 
Significant
Other
Observable
Inputs
(Level 2)
 
Significant
Unobserved
Inputs
(Level 3)
Assets:
 
 
 
 
 
 
 
Canadian fixed income securities
$
5,174

 
$
5,174

 
$
—

 
$
—

International equity securities
4,781

 
4,386

 
395

 
—

U.S. equity securities
1,269

 
1,269

 
—

 
—

Other
336

 
336

 
—

 
—

Total
$
11,560

 
$
11,165

 
$
395

 
$
—

 
 
 
Fair Value Measurements at December 31, 2012
(in thousands)
Total
 
Quoted Prices
in Active
Markets
(Level 1)
 
Significant
Other
Observable
Inputs
(Level 2)
 
Significant
Unobserved
Inputs
(Level 3)
Assets:
 
 
 
 
 
 
 
Canadian fixed income securities
$
6,744

 
$
6,744

 
$
—

 
$
—

International equity securities
4,871

 
4,494

 
377

 
—

U.S. equity securities
1,185

 
1,185

 
—

 
—

Other
197

 
197

 
—

 
—

Total
$
12,997

 
$
12,620

 
$
377

 
$
—

Payments and receipts reflecting expected future service 
The following payments, which reflect expected future service, as appropriate, are expected to be paid:
(in thousands)
Funded
Plans
 
Unfunded
Plans
2014
$
365

 
$
213

2015
480

 
213

2016
485

 
212

2017
488

 
212

2018
512

 
211

2019-2022
3,226

 
1,051

Restructuring Charges (Tables)
Reconciliation of beginning and ending liability balances by major restructuring activity
The table below represents a reconciliation of beginning and ending liability balances by major restructuring activity:
 
Marketing & Events
Group Consolidation
 
Other Restructurings
 
 
(in thousands)
Severance &
Employee
Benefits
 
Facilities
 
Severance &
Employee
Benefits
 
Facilities
 
Total
Balance at January 1, 2011
$
1,106

 
$
5,051

 
$
197

 
$
1,642

 
$
7,996

Restructuring charges
1,182

 
2,519

 
26

 
55

 
3,782

Cash payments
(1,175
)
 
(2,356
)
 
(199
)
 
(158
)
 
(3,888
)
Adjustment to liability
(294
)
 
(397
)
 
—

 
(263
)
 
(954
)
Foreign currency translation adjustment
12

 
2

 
—

 
—

 
14

Balance at December 31, 2011
831

 
4,819

 
24

 
1,276

 
6,950

Restructuring charges
2,506

 
2,346

 
90

 
—

 
4,942

Cash payments
(2,670
)
 
(1,567
)
 
(114
)
 
(343
)
 
(4,694
)
Adjustment to liability
51

 
(27
)
 
—

 
—

 
24

Foreign currency translation adjustment
2

 
—

 
—

 
—

 
2

Balance at December 31, 2012
720

 
5,571

 
—

 
933

 
7,224

Restructuring charges (recoveries)
2,931

 
(315
)
 
1,967

 
(692
)
 
3,891

Cash payments
(2,411
)
 
(1,691
)
 
(498
)
 
(241
)
 
(4,841
)
Adjustment to liability
—

 
—

 
(478
)
 
—

 
(478
)
Balance at December 31, 2013
$
1,240

 
$
3,565

 
$
991

 
$
—

 
$
5,796

Leases and Other (Tables)
Future minimum rental payments and related sublease rentals receivable 
As of December 31, 2013, Viad’s future minimum rental payments and related sublease rentals receivable with respect to non-cancelable operating leases with terms in excess of one year were as follows:
(in thousands)
Rental
Payments
 
Receivable
Under Subleases
2014
$
19,808

 
$
1,665

2015
14,371

 
1,212

2016
9,439

 
963

2017
7,870

 
963

2018
6,097

 
873

Thereafter
8,137

 
1,092

Total
$
65,722

 
$
6,768

Net rent expense under operating leases 
Net rent expense under operating leases consisted of the following:
(in thousands)
2013
 
2012
 
2011
Minimum rentals
$
34,201

 
$
36,309

 
$
30,860

Sublease rentals
(6,815
)
 
(6,501
)
 
(6,497
)
Total rentals, net
$
27,386

 
$
29,808

 
$
24,363

Segment Information (Tables)
Reconciliation of income statement items from reportable segments 
Disclosures regarding Viad’s reportable segments with reconciliations to consolidated totals are as follows:
(in thousands)
2013
 
2012
 
2011
Revenues:
 
 
 
 
 
Marketing & Events Group:
 
 
 
 
 
U.S.
$
628,856

 
$
676,772

 
$
631,360

International
229,312

 
240,137

 
218,639

Intersegment eliminations
(13,264
)
 
(14,869
)
 
(9,449
)
 
844,904

 
902,040

 
840,550

Travel & Recreation Group
127,888

 
123,191

 
101,814

Total Revenue
$
972,792

 
$
1,025,231

 
$
942,364

Segment operating income (loss):

 
 
 
 
Marketing & Events Group:
 
 
 
 
 
U.S.
$
11,024

 
$
5,579

 
$
(6,269
)
International
9,068

 
12,321

 
11,449

 
20,092


17,900

 
5,180

Travel & Recreation Group
25,799

 
23,962

 
20,196

 
45,891

 
41,862

 
25,376

Corporate activities
(6,755
)
 
(9,408
)
 
(7,682
)
 
39,136


32,454

 
17,694

Interest income
550

 
593

 
779

Interest expense
(1,234
)
 
(1,303
)
 
(1,511
)
Restructuring recoveries (charges):
 
 
 
 
 
Marketing & Events U.S.
409

 
(3,479
)
 
(3,756
)
Marketing & Events International
(2,362
)
 
(1,373
)
 
—

Travel & Recreation Group
(907
)
 
(79
)
 
—

Corporate
(1,031
)
 
(11
)
 
(26
)
Impairment charges:
 
 
 
 
 
Marketing & Events U.S.
(658
)
 
—

 
—

Marketing & Events International
(294
)
 
—

 
—

Travel & Recreation Group
(4,461
)
 
—

 
—

Income from continuing operations before income taxes
$
29,148

 
$
26,802

 
$
13,180

Reconciliation of assets from reportable segments 
(in thousands)
2013
 
2012
 
2011
Assets:
 
 
 
 
 
Marketing & Events Group:
 
 
 
 
 
U.S.
$
194,422

 
$
203,145

 
$
213,843

International
81,058

 
100,387

 
96,996

Travel & Recreation Group
209,611

 
223,199

 
194,278

Corporate and other
76,841

 
123,846

 
112,711

 
$
561,932


$
650,577

 
$
617,828

Depreciation and amortization:
 
 
 
 
 
Marketing & Events Group:
 
 
 
 
 
U.S.
$
14,906

 
$
17,643

 
$
17,247

International
5,566

 
5,162

 
5,027

Travel & Recreation Group
7,967

 
7,781

 
6,674

Corporate and other
176

 
145

 
178

 
$
28,615


$
30,731

 
$
29,126

Capital expenditures:
 
 
 
 
 
Marketing & Events Group:
 
 
 
 
 
U.S.
$
8,278

 
$
7,525

 
$
11,692

International
4,332

 
4,913

 
5,635

Travel & Recreation Group
23,108

 
15,201

 
3,271

Corporate and other
401

 
36

 
940

 
$
36,119


$
27,675

 
$
21,538

Viad's revenues for each group of products and services 
Products and Services. Viad’s revenues for each group of products and services are presented in the following table:
(in thousands)
2013
 
2012
 
2011
Revenues:
 
 
 
 
 
Exhibition and event services
$
685,350

 
$
726,429

 
$
670,054

Exhibits and environments
159,554

 
175,611

 
170,496

Travel and recreation services
127,888

 
123,191

 
101,814

Total revenues
$
972,792


$
1,025,231

 
$
942,364

Financial information by major geographic area 
The table below presents the financial information by major geographic area:
(in thousands)
2013
 
2012
 
2011
Revenues:
 
 
 
 
 
United States
$
656,927

 
$
700,414

 
$
660,998

United Kingdom
151,217

 
153,027

 
124,208

Canada
148,934

 
151,070

 
140,374

Other international
15,714

 
20,720

 
16,784

Total revenues
$
972,792

 
$
1,025,231

 
$
942,364

Long-lived assets:
 
 
 
 
 
United States
$
132,315

 
$
141,727

 
$
145,217

Canada
82,986

 
76,067

 
47,624

United Kingdom
9,631

 
9,757

 
8,165

Other international
424

 
2,163

 
3,858

Total long-lived assets
$
225,356

 
$
229,714

 
$
204,864

Condensed Consolidated Quarterly Results (Unaudited) (Tables)
Quarterly financial information
The following quarterly financial information was derived from the Company’s interim financial statements and was prepared in a manner consistent with the annual financial statements and includes all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation.
 
2013
 
2012
(in thousands, except per share data)
First
Quarter
 
Second
Quarter
 
Third
Quarter
 
Fourth
Quarter
 
First
Quarter
 
Second
Quarter
 
Third
Quarter
 
Fourth
Quarter
Revenues:
$
285,163

 
$
249,314

 
$
236,473

 
$
201,842

 
$
268,772

 
$
246,450

 
$
307,457

 
$
202,552

Operating income (loss):
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Ongoing operations(1)
$
12,827

 
$
10,881

 
$
24,624

 
$
(2,441
)
 
$
5,533

 
$
10,498

 
$
34,182

 
$
(8,351
)
Corporate activities
(806
)
 
(1,167
)
 
(2,034
)
 
(2,748
)
 
(1,777
)
 
(2,187
)
 
(2,036
)
 
(3,408
)
Restructuring charges
(720
)
 
(773
)
 
(714
)
 
(1,684
)
 
(2,225
)
 
(678
)
 
(608
)
 
(1,431
)
Impairment charges
—

 
—

 
(5,413
)
 
—

 
—

 
—

 
—

 
—

Operating income (loss)
$
11,301

 
$
8,941

 
$
16,463

 
$
(6,873
)
 
$
1,531

 
$
7,633

 
$
31,538

 
$
(13,190
)
Income (loss) from continuing operations attributable to Viad(2)
$
8,065

 
$
6,253

 
$
10,849

 
$
(4,740
)
 
$
1,027

 
$
5,451

 
$
19,976

 
$
(21,181
)
Net income (loss) attributable to Viad(2)
$
8,065

 
$
6,253

 
$
11,855

 
$
(4,618
)
 
$
1,027

 
$
6,090

 
$
19,976

 
$
(21,196
)
Income (loss) per common share-Diluted(2),(3):
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Income (loss) from continuing operations attributable to Viad
$
0.40

 
$
0.31

 
$
0.53

 
$
(0.24
)
 
$
0.05

 
$
0.27

 
$
0.99

 
$
(1.07
)
Net income (loss) attributable to Viad
$
0.40

 
$
0.31

 
$
0.58

 
$
(0.23
)
 
$
0.05

 
$
0.30

 
$
0.99

 
$
(1.07
)
Income (loss) per common share-Basic(2),(3):
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Income (loss) from continuing operations attributable to Viad
$
0.40

 
$
0.31

 
$
0.53

 
$
(0.24
)
 
$
0.05

 
$
0.27

 
$
0.99

 
$
(1.07
)
Net income (loss) attributable to Viad
$
0.40

 
$
0.31

 
$
0.58

 
$
(0.23
)
 
$
0.05

 
$
0.30

 
$
0.99

 
$
(1.07
)
(1) Represents revenues less costs of services and products sold.
(2) The fourth quarter of 2012 includes a tax charge of $13.4 million representing a valuation allowance for certain deferred tax assets associated with foreign tax credit carryforwards.
(3) The sum of quarterly income per share amounts may not equal annual income per share due to rounding.
Summary of Significant Accounting Policies (Details)
12 Months Ended
Dec. 31, 2013
Summary of Significant Accounting Policies (Textual) [Abstract]
 
Remaining maturities of highly-liquid investments
three months or less 
Contracts completion period
3 months 
Percent of shares vest on the third anniversary of the grant
40.00% 
Percent of increments over the subsequent two anniversary dates
30.00% 
Performance Based Restricted Stock awards description and terms
PBRS is subject to a graded vesting schedule whereby one third of the earned shares vest after the first year and the remaining earned shares vest in one-third increments each year over the next two years on the first business day in January 
Stock options
 
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
 
Share based compensation arrangements requisite service period
5 years 
Restricted Stock
 
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
 
Share based compensation arrangements requisite service period
3 years 
Performance Shares
 
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
 
Share based compensation arrangements requisite service period
3 years 
Liability Based Awards
 
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
 
Share based compensation arrangements requisite service period
3 years 
Maximum |
Restricted Stock
 
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
 
Share based compensation arrangements vesting period
5 years 
Minimum |
Restricted Stock
 
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
 
Share based compensation arrangements vesting period
3 years 
Glacier Park Inc
 
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
 
Numbers of hotel
5 
Percentage of owned subsidiary of Viad
80.00% 
Building |
Maximum
 
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
 
Property, plant and equipment, useful life
40 years 
Building |
Minimum
 
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
 
Property, plant and equipment, useful life
15 years 
Equipment |
Maximum
 
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
 
Property, plant and equipment, useful life
12 years 
Equipment |
Minimum
 
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
 
Property, plant and equipment, useful life
3 years 
Software |
Maximum
 
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
 
Property, plant and equipment, useful life
10 years 
Software |
Minimum
 
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
 
Property, plant and equipment, useful life
3 years 
Share-Based Compensation - Summary of Share-Based Compensation Expenses (Details) (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Summary of share-based compensation expense
 
 
 
Share-based compensation before income tax benefit
$ 5,221 
$ 7,232 
$ 4,413 
Income tax benefit
(1,936)
(2,574)
(1,594)
Total share-based compensation, net of income tax benefit
3,285 
4,658 
2,819 
Restricted stock/performance-based restricted stock (PBRS)
 
 
 
Summary of share-based compensation expense
 
 
 
Share-based compensation before income tax benefit
3,073 
3,267 
3,042 
Performance unit incentive plan (PUP)
 
 
 
Summary of share-based compensation expense
 
 
 
Share-based compensation before income tax benefit
1,864 
2,922 
714 
Restricted Stock Units and Performance Based Restricted Stock Units
 
 
 
Summary of share-based compensation expense
 
 
 
Share-based compensation before income tax benefit
177 
450 
120 
Stock options
 
 
 
Summary of share-based compensation expense
 
 
 
Share-based compensation before income tax benefit
$ 107 
$ 593 
$ 537 
Share-Based Compensation - Summary of Restricted Stock and PBRS Activity (Details) (USD $)
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Restricted Stock
 
 
 
Summary of restricted stock and PBRS activity
 
 
 
Beginning Balance, Weighted-Average Grant Date Fair Value
$ 21.25 
$ 20.36 
$ 21.51 
Beginning Balance, Shares
516,351 
572,022 
478,499 
Granted, Shares
101,300 
168,050 
191,850 
Granted, Weighted-Average Grant Date Fair Value
$ 27.27 
$ 20.46 
$ 22.70 
Vested, Shares
(166,320)
(219,571)
(91,212)
Vested, Weighted-Average Grant Date Fair Value
$ 20.83 
$ 18.26 
$ 31.31 
Forfeited or Cancelled, Shares
(20,432)
(4,150)
(7,115)
Forfeited or Cancelled, Weighted-Average Grant Date Fair Value
$ 22.13 
$ 24.80 
$ 20.81 
Ending Balance, Weighted-Average Grant Date Fair Value
$ 22.78 
$ 21.25 
$ 20.36 
Ending Balance, Shares
430,899 
516,351 
572,022 
PBRS
 
 
 
Summary of restricted stock and PBRS activity
 
 
 
Beginning Balance, Weighted-Average Grant Date Fair Value
$ 0.00 
$ 15.36 
$ 33.02 
Beginning Balance, Shares
0 
416 
18,830 
Granted, Shares
0 
0 
0 
Granted, Weighted-Average Grant Date Fair Value
$ 0.00 
$ 0.00 
$ 0.00 
Vested, Shares
0 
(416)
(18,414)
Vested, Weighted-Average Grant Date Fair Value
$ 0.00 
$ 15.36 
$ 33.42 
Forfeited or Cancelled, Shares
0 
0 
0 
Forfeited or Cancelled, Weighted-Average Grant Date Fair Value
$ 0.00 
$ 0.00 
$ 0.00 
Ending Balance, Weighted-Average Grant Date Fair Value
$ 0.00 
$ 0.00 
$ 15.36 
Ending Balance, Shares
0 
0 
416 
Share-Based Compensation - Summary of Liability Based Award Activity (Details) (USD $)
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Restricted Stock (RSU)
 
 
 
Summary of Liability-Based Award Activity [Roll Forward]
 
 
 
Granted, Weighted-Average Grant Date Fair Value
$ 27.35 
 
 
Liability Based Awards |
Performance unit incentive plan (PUP)
 
 
 
Summary of Liability-Based Award Activity [Roll Forward]
 
 
 
Beginning Balance, Shares
210,600 
95,500 
102,960 
Granted, Shares
93,100 
115,100 
95,500 
Vested, Shares
0 
0 
0 
Forfeited or Cancelled, Shares
(3,932)
0 
(102,960)
Ending Balance, Shares
299,768 
210,600 
95,500 
Beginning Balance, Weighted-Average Grant Date Fair Value
$ 21.70 
$ 23.02 
$ 33.81 
Granted, Weighted-Average Grant Date Fair Value
$ 27.35 
$ 20.60 
$ 23.02 
Vested, Weighted-Average Grant Date Fair Value
$ 0.00 
$ 0.00 
$ 0.00 
Forfeited or Cancelled, Weighted-Average Grant Date Fair Value
$ 21.15 
$ 0.00 
$ 33.81 
Ending Balance, Weighted-Average Grant Date Fair Value
$ 23.46 
$ 21.70 
$ 23.02 
Liability Based Awards |
Restricted Stock (RSU)
 
 
 
Summary of Liability-Based Award Activity [Roll Forward]
 
 
 
Beginning Balance, Shares
40,500 
38,600 
26,050 
Granted, Shares
8,600 
15,850 
12,550 
Vested, Shares
(11,300)
(13,100)
0 
Forfeited or Cancelled, Shares
(9,240)
(850)
0 
Ending Balance, Shares
28,560 
40,500 
38,600 
Beginning Balance, Weighted-Average Grant Date Fair Value
$ 20.82 
$ 19.07 
$ 17.18 
Granted, Weighted-Average Grant Date Fair Value
 
$ 20.57 
$ 23.01 
Vested, Weighted-Average Grant Date Fair Value
$ 19.10 
$ 15.36 
$ 0.00 
Forfeited or Cancelled, Weighted-Average Grant Date Fair Value
$ 22.55 
$ 20.89 
$ 0.00 
Ending Balance, Weighted-Average Grant Date Fair Value
$ 22.91 
$ 20.82 
$ 19.07 
Liability Based Awards |
Performance Based Restricted Stock Shares (PBRSU)
 
 
 
Summary of Liability-Based Award Activity [Roll Forward]
 
 
 
Beginning Balance, Shares
0 
1,956 
3,914 
Granted, Shares
0 
0 
0 
Vested, Shares
0 
(1,956)
(1,958)
Forfeited or Cancelled, Shares
0 
0 
0 
Ending Balance, Shares
0 
0 
1,956 
Beginning Balance, Weighted-Average Grant Date Fair Value
$ 0.00 
$ 15.36 
$ 15.36 
Granted, Weighted-Average Grant Date Fair Value
$ 0.00 
$ 0.00 
$ 0.00 
Vested, Weighted-Average Grant Date Fair Value
$ 0.00 
$ 15.36 
$ 15.36 
Forfeited or Cancelled, Weighted-Average Grant Date Fair Value
$ 0.00 
$ 0.00 
$ 0.00 
Ending Balance, Weighted-Average Grant Date Fair Value
$ 0.00 
$ 0.00 
$ 15.36 
Share-Based Compensation - Summary of Stock Option Activity (Details) (USD $)
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Summary of stock option activity
 
 
 
Options outstanding, Beginning Balance, Shares
363,896 
584,201 
763,794 
Options outstanding, Beginning Balance, Weighted Average Exercise Price
$ 22.03 
$ 23.32 
$ 23.38 
Options outstanding, Beginning Balance, Options Exercisable
276,009 
396,688 
451,194 
Exercised, Shares
(59,543)
(12,099)
(14,616)
Exercised, Weighted Average Exercise Price
$ 19.42 
$ 19.41 
$ 20.14 
Shares Forfeited or Expired
(15,853)
(208,206)
(164,977)
Weighted Average Exercise Price Forfeited
$ 40.45 
$ 25.81 
$ 23.88 
Options outstanding, Ending Balance, Shares
314,323 
363,896 
584,201 
Options outstanding, Ending Balance, Weighted Average Exercise Price
$ 19.79 
$ 22.03 
$ 23.32 
Options outstanding, Ending Balance, Options Exercisable
314,323 
276,009 
396,688 
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross
0 
0 
0 
Additional Shares Granted from Special Dividend
25,823 
 
 
Share-Based Compensation - Summary of Information on Stock Options Outstanding and Exercisable (Details) (USD $)
12 Months Ended
Dec. 31, 2013
Range One
 
Summary of information concerning stock options outstanding and exercisable
 
Range of Exercise Prices, upper limit
$ 17.62 
Options Outstanding, Shares
262,788 
Options Outstanding, Weighted-Average Remaining Contractual Life
5 years 8 months 12 days 
Options Outstanding, Weighted-Average Exercise Price
$ 17.62 
Options Exercisable, Shares
262,788 
Options Exercisable, Weighted-Average Exercise Price
$ 17.62 
Range Two
 
Summary of information concerning stock options outstanding and exercisable
 
Range of Exercise Prices, upper limit
$ 22.85 
Options Outstanding, Shares
10,895 
Options Outstanding, Weighted-Average Remaining Contractual Life
1 year 10 months 24 days 
Options Outstanding, Weighted-Average Exercise Price
$ 22.85 
Options Exercisable, Shares
10,895 
Options Exercisable, Weighted-Average Exercise Price
$ 22.85 
Range Three
 
Summary of information concerning stock options outstanding and exercisable
 
Range of Exercise Prices, upper limit
$ 31.03 
Options Outstanding, Shares
22,118 
Options Outstanding, Weighted-Average Remaining Contractual Life
1 year 2 months 12 days 
Options Outstanding, Weighted-Average Exercise Price
$ 31.03 
Options Exercisable, Shares
22,118 
Options Exercisable, Weighted-Average Exercise Price
$ 31.03 
Range Four
 
Summary of information concerning stock options outstanding and exercisable
 
Range of Exercise Prices, upper limit
$ 35.28 
Options Outstanding, Shares
18,522 
Options Outstanding, Weighted-Average Remaining Contractual Life
1 month 6 days 
Options Outstanding, Weighted-Average Exercise Price
$ 35.28 
Options Exercisable, Shares
18,522 
Options Exercisable, Weighted-Average Exercise Price
$ 35.28 
Range Five
 
Summary of information concerning stock options outstanding and exercisable
 
Range of Exercise Prices, lower limit
$ 17.62 
Range of Exercise Prices, upper limit
$ 35.28 
Options Outstanding, Shares
314,323 
Options Outstanding, Weighted-Average Remaining Contractual Life
5 years 1 month 6 days 
Options Outstanding, Weighted-Average Exercise Price
$ 19.79 
Options Exercisable, Shares
314,323 
Options Exercisable, Weighted-Average Exercise Price
$ 19.79 
Share-Based Compensation -Summary of Additional Information on Stock Options (Details) (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Summary of additional information pertaining to stock options
 
 
 
Total intrinsic value of stock options outstanding
$ 2,723 
$ 2,329 
$ 0 
Total intrinsic value of stock options exercised
1,611 
296 
325 
Fair value of stock options vested
532 
539 
682 
Cash received from the exercise of stock options
777 
248 
296 
Tax deficiencies from share-based compensation
$ 404 
$ 96 
$ (325)
Share-Based Compensation Share-Based Compensation (Details Textual) (USD $)
0 Months Ended 12 Months Ended 1 Months Ended 12 Months Ended 1 Months Ended 12 Months Ended 12 Months Ended 12 Months Ended
Oct. 25, 2013
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Feb. 28, 2013
Restricted Stock (RSU)
Feb. 28, 2012
Restricted Stock (RSU)
Dec. 31, 2013
Restricted Stock (RSU)
Jan. 31, 2012
PBRS
Jan. 31, 2011
PBRS
Dec. 31, 2013
PBRS
Dec. 31, 2012
PBRS
Dec. 31, 2011
PBRS
Dec. 31, 2010
PBRS
Dec. 31, 2013
Performance unit incentive plan (PUP)
Dec. 31, 2012
Performance unit incentive plan (PUP)
Dec. 31, 2011
Performance unit incentive plan (PUP)
Dec. 31, 2013
Restricted Stock
Dec. 31, 2012
Restricted Stock
Dec. 31, 2011
Restricted Stock
Dec. 31, 2010
Restricted Stock
Dec. 31, 2013
Restricted Stock Units and Performance Based Restricted Stock Units
Dec. 31, 2012
Restricted Stock Units and Performance Based Restricted Stock Units
Dec. 31, 2011
Restricted Stock Units and Performance Based Restricted Stock Units
Dec. 31, 2013
Employee Stock Option [Member]
Dec. 31, 2012
Employee Stock Option [Member]
Dec. 31, 2011
Employee Stock Option [Member]
Dec. 31, 2013
Restructuring Charges
Dec. 31, 2012
Restructuring Charges
Dec. 31, 2011
Restructuring Charges
Dec. 31, 2013
Restructuring Charges
Restricted Stock (RSU)
Dec. 31, 2013
Restructuring Charges
Performance unit incentive plan (PUP)
Dec. 31, 2012
Restructuring Charges
Performance unit incentive plan (PUP)
Dec. 31, 2013
Performance Based Restricted Stock Units [Member]
Dec. 31, 2012
Performance Unit Incentive Plan [Member]
Dec. 31, 2013
Performance Unit Incentive Plan [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number
 
 
 
 
 
 
 
 
 
 
0 
0 
416 
18,830 
 
 
 
430,899 
516,351 
572,022 
478,499 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value
 
 
 
 
 
 
 
 
 
 
$ 0.00 
$ 0.00 
$ 15.36 
$ 33.02 
 
 
 
$ 22.78 
$ 21.25 
$ 20.36 
$ 21.51 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Share Based Compensation (Textual) [Abstract]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Useful Life of the 2007 plan
 
10 years 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Minimum number of shares of common stock available for grant
 
1,700,000 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Additional number of shares of common stock available for grant
 
1,500,000 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Shares Available for Grant
 
983,971 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Share-based compensation before income tax benefit
 
$ 5,221,000 
$ 7,232,000 
$ 4,413,000 
 
 
 
 
 
 
 
 
 
 
$ 1,864,000 
$ 2,922,000 
$ 714,000 
 
 
 
 
$ 177,000 
$ 450,000 
$ 120,000 
$ 107,000 
$ 593,000 
$ 537,000 
$ 676,000 
$ 253,000 
$ 124,000 
$ 154,000 
$ 329,000 
$ 94,000 
 
 
 
Grant date fair value of restricted stock vested
 
 
 
 
 
 
 
 
 
 
 
6,000 
600,000 
 
 
 
 
3,500,000 
4,000,000 
2,900,000 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Unamortized cost
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
3,200,000 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Recognition Period of Unrecognized cost
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
1 year 8 months 12 days 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Repurchase of Common Stock for Employee Tax Withholding Obligations amount, shares
 
50,156 
56,885 
28,627 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Repurchase of Common Stock for Employee Tax Withholding Obligations amount
 
1,300,000 
1,100,000 
679,000 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Liabilities related to restricted stock
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
664,000 
633,000 
 
 
 
 
 
 
 
 
 
 
 
 
 
Payments To Employees
 
 
 
 
 
300,000 
257,000 
 
35,000 
52,000 
 
 
 
 
0 
0 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
0 
 
 
 
 
 
 
 
 
 
 
 
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross
 
0 
0 
0 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Liability awards recorded
 
 
3,700,000 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
5,900,000 
Weighted-average exercised
 
$ 19.79 
$ 22.03 
$ 23.32 
$ 23.38 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Effective vesting date
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Dec. 31, 2009 
 
 
PUP award cancelled
 
 
 
 
 
 
 
 
 
 
0 
0 
0 
 
 
 
 
20,432 
4,150 
7,115 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
PUP awards, Granted
 
 
 
 
 
 
 
 
 
 
0 
0 
0 
 
 
 
 
101,300 
168,050 
191,850 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
PUP award vested
 
 
 
 
 
 
 
 
 
 
0 
416 
18,414 
 
 
 
 
166,320 
219,571 
91,212 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
0 
 
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value
 
 
 
 
 
 
 
 
 
 
$ 0.00 
$ 15.36 
$ 33.42 
 
 
 
 
$ 20.83 
$ 18.26 
$ 31.31 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Options Exercised
 
59,543 
12,099 
14,616 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Capitalized share-based compensation costs
 
0 
0 
0 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Grant date fair value of restricted stock vested
 
 
 
 
 
 
 
$ 27.35 
 
 
$ 0.00 
$ 0.00 
$ 0.00 
 
 
 
 
$ 27.27 
$ 20.46 
$ 22.70 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value
 
 
 
 
 
 
 
 
 
 
$ 0.00 
$ 0.00 
$ 0.00 
 
 
 
 
$ 22.13 
$ 24.80 
$ 20.81 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Common Stock, Dividends, Per Share, Declared
$ 2.50 
$ 2.90 
$ 0.28 
$ 0.16 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Dividends, Common Stock
$ 50,800,000 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Acquisition of Businesses - Schedule of Recognized Assets Acquired and Liabilities Assumed (Details) (USD $)
In Thousands, unless otherwise specified
0 Months Ended 12 Months Ended
Mar. 7, 2012
Banff International Hotel
Dec. 31, 2011
Series of Individually Immaterial Business Acquisitions
Business Acquisition [Line Items]
 
 
Cash and cash equivalents
$ 10 
$ 30 
Accounts receivable
23 
 
Other current assets
33 
870 
Property and equipment
20,408 
32,905 
Goodwill, Expected Tax Deductible Amount
1,890 
7,645 
Other intangible assets
1,323 
1,086 
Total assets acquired
23,687 
42,536 
Customer Deposits
(64)
(821)
Other current liabilities
(67)
(198)
Other long-term liabilities
 
(382)
Total liabilities acquired
(131)
(1,401)
Purchase price
$ 23,556 
$ 41,135 
Acquisition of Businesses - Unaudited Pro Forma (Details) (USD $)
In Thousands, except Per Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Business Combinations [Abstract]
 
 
 
Revenue
$ 973,039 
$ 1,027,107 
$ 956,570 
Depreciation and amortization
28,697 
31,131 
30,648 
Segment operating income
45,919 
41,859 
28,602 
Income from continuing operations
20,444 
5,269 
10,674 
Net income attributable to Viad
$ 21,572 
$ 5,893 
$ 11,125 
Diluted net income per share
$ 1.06 
$ 0.29 
$ 0.45 
Basic net income per share
$ 1.06 
$ 0.29 
$ 0.45 
Acquisition of Businesses - Narrative (Details) (USD $)
In Thousands, unless otherwise specified
12 Months Ended 0 Months Ended 12 Months Ended 0 Months Ended 12 Months Ended 0 Months Ended 12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Feb. 19, 2013
Resource Creative Limited
Dec. 31, 2013
Resource Creative Limited
Mar. 7, 2012
Banff International Hotel
Room
Dec. 31, 2012
Banff International Hotel
Sep. 16, 2011
Denali
GuestCabins
Room
Jun. 29, 2011
St Mary
Room
Jan. 5, 2011
Grouse Mountain Lodge
Dec. 31, 2011
Denali Grouse and St Marry
Feb. 19, 2013
Customer Relationships
Resource Creative Limited
Sep. 16, 2011
Customer Relationships
Denali
Feb. 19, 2013
Noncompete Agreements
Resource Creative Limited
Jun. 29, 2011
Non Amortized Business License
St Mary
Jan. 5, 2011
Non Amortized Business License
Grouse Mountain Lodge
Business Acquisition [Line Items]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Goodwill Expected Tax Deductible Period
 
 
 
 
15 years 
 
 
 
 
 
15 years 
 
 
 
 
 
Goodwill, Expected Tax Deductible Amount
 
 
 
$ 158 
 
$ 1,890 
 
 
 
 
 
 
 
 
 
 
Other intangible assets
 
 
 
695 
 
1,323 
 
 
 
 
 
 
 
 
 
 
Purchase price
 
 
 
647 
 
23,556 
 
15,300 
15,300 
10,500 
 
 
 
 
 
 
Business Combination, Contingent Consideration, Liability
 
 
 
278 
 
 
 
 
 
 
 
 
 
 
 
 
Property and equipment
 
 
 
72 
 
20,408 
 
 
 
 
 
 
 
 
 
 
Number of Rooms in Hotel
 
 
 
 
 
162 
 
42 
115 
 
 
 
 
 
 
 
Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles
 
 
 
 
 
 
 
 
 
 
 
564 
626 
131 
 
 
Finite-Lived Intangible Asset, Useful Life
1 year 9 months 18 days 
 
 
 
4 years 6 months 
 
7 years 8 months 12 days 
 
 
 
 
 
 
 
 
 
Number of Guest Cabins
 
 
 
 
 
 
 
46 
 
 
 
 
 
 
 
 
Goodwill
129,543 
137,820 
133,694 
 
 
 
 
3,200 
3,100 
1,300 
 
 
 
 
 
 
Recognized Identifiable Assets Acquired and Liabilities Assumed, Indefinite-Lived Intangible Assets
 
 
 
 
 
 
 
 
 
 
 
 
 
 
$ 60 
$ 400 
Inventories - Components of Inventories (Details) (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2013
Dec. 31, 2012
Components of Inventories
 
 
Raw materials
$ 14,825 
$ 16,422 
Work in process
13,168 
19,234 
Inventories
$ 27,993 
$ 35,656 
Property and Equipment - Schedule of Property and Equipment (Details) (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2013
Dec. 31, 2012
Property and Equipment
 
 
Total Property and Equipment
$ 457,944 
$ 473,865 
Accumulated depreciation
(267,614)
(276,567)
Property and equipment, net
190,330 
197,298 
Land and land interests
 
 
Property and Equipment
 
 
Total Property and Equipment
23,646 
26,124 
Building and leasehold improvements
 
 
Property and Equipment
 
 
Total Property and Equipment
139,889 
137,293 
Equipment and other
 
 
Property and Equipment
 
 
Total Property and Equipment
$ 294,409 
$ 310,448 
Property and Equipment - Additional Information (Details) (USD $)
3 Months Ended 12 Months Ended
Dec. 31, 2013
Sep. 30, 2013
Jun. 30, 2013
Mar. 31, 2013
Dec. 31, 2012
Sep. 30, 2012
Jun. 30, 2012
Mar. 31, 2012
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Acquired Indefinite-lived Intangible Assets [Line Items]
 
 
 
 
 
 
 
 
 
 
 
Proceeds from Sale of Property Held-for-sale
 
 
 
 
 
 
 
 
$ 12,696,000 
$ 0 
$ 0 
Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property
 
 
 
 
 
 
 
 
4,775,000 
0 
0 
Net carrying amount of capitalized software
13,900,000 
 
 
 
14,200,000 
 
 
 
13,900,000 
14,200,000 
 
Leasehold interests
457,944,000 
 
 
 
473,865,000 
 
 
 
457,944,000 
473,865,000 
 
Depreciation expense
 
 
 
 
 
 
 
 
27,400,000 
30,000,000 
28,400,000 
Asset Impairment Charges
0 
5,413,000 
0 
0 
0 
0 
0 
0 
5,413,000 
0 
0 
Leasehold Land Interests
 
 
 
 
 
 
 
 
 
 
 
Acquired Indefinite-lived Intangible Assets [Line Items]
 
 
 
 
 
 
 
 
 
 
 
Leasehold interests
10,000,000 
 
 
 
10,600,000 
 
 
 
10,000,000 
10,600,000 
 
Marketing and Events Group
 
 
 
 
 
 
 
 
 
 
 
Acquired Indefinite-lived Intangible Assets [Line Items]
 
 
 
 
 
 
 
 
 
 
 
Asset Impairment Charges
 
 
 
 
 
 
 
 
$ 952,000 
 
 
Other Investments and Assets - Summary of Other Investments and Assets (Details) (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2013
Dec. 31, 2012
Investments, All Other Investments [Abstract]
 
 
Cash surrender value of life insurance
$ 19,690 
$ 19,142 
Workers’ compensation insurance security deposits
3,350 
3,350 
Other
11,986 
9,924 
Total other investments and assets
$ 35,026 
$ 32,416 
Goodwill and Other Intangible Assets - Summary of Goodwill Balances by Component and Segment (Details) (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Changes in the carrying amount of goodwill
 
 
Goodwill, Beginning Balance
$ 137,820 
$ 133,694 
Business acquisitions
158 
1,890 
Goodwill impairment charge
(4,461)
 
Foreign currency translation adjustments
(3,974)
2,236 
Goodwill Ending balance
129,543 
137,820 
Marketing & Events U.S.
 
 
Changes in the carrying amount of goodwill
 
 
Goodwill, Beginning Balance
62,686 
62,686 
Business acquisitions
0 
0 
Goodwill impairment charge
0 
 
Foreign currency translation adjustments
0 
0 
Goodwill Ending balance
62,686 
62,686 
Marketing & Events International
 
 
Changes in the carrying amount of goodwill
 
 
Goodwill, Beginning Balance
23,054 
22,198 
Business acquisitions
158 
0 
Goodwill impairment charge
0 
 
Foreign currency translation adjustments
(601)
856 
Goodwill Ending balance
22,611 
23,054 
Travel & Recreation Group
 
 
Changes in the carrying amount of goodwill
 
 
Goodwill, Beginning Balance
52,080 
48,810 
Business acquisitions
0 
1,890 
Foreign currency translation adjustments
(3,373)
1,380 
Goodwill Ending balance
$ 44,246 
$ 52,080 
Goodwill and Other Intangible Assets - Goodwill by Reporting Unit and Segment (Details) (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Goodwill by reporting unit and segment
 
 
 
Goodwill
$ 129,543 
$ 137,820 
$ 133,694 
Marketing & Events U.S.
 
 
 
Goodwill by reporting unit and segment
 
 
 
Goodwill
62,686 
62,686 
 
Marketing & Events International
 
 
 
Goodwill by reporting unit and segment
 
 
 
Goodwill
22,611 
23,054 
22,198 
Marketing & Events International |
United Kingdom (Melville GES)
 
 
 
Goodwill by reporting unit and segment
 
 
 
Goodwill
14,049 
13,894 
 
Marketing & Events International |
GES Canada
 
 
 
Goodwill by reporting unit and segment
 
 
 
Goodwill
8,562 
9,160 
 
Marketing and Events Group
 
 
 
Goodwill by reporting unit and segment
 
 
 
Goodwill
85,297 
85,740 
 
Travel & Recreation Group
 
 
 
Goodwill by reporting unit and segment
 
 
 
Goodwill
44,246 
52,080 
48,810 
Travel & Recreation Group |
Brewster
 
 
 
Goodwill by reporting unit and segment
 
 
 
Goodwill
41,062 
44,435 
 
Travel & Recreation Group |
Glacier Park
 
 
 
Goodwill by reporting unit and segment
 
 
 
Goodwill
0 
4,461 
 
Travel & Recreation Group |
Alaska Denali Travel
 
 
 
Goodwill by reporting unit and segment
 
 
 
Goodwill
$ 3,184 
$ 3,184 
 
Goodwill and Other Intangible Assets - Summary of Other Intangible Assets (Details) (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2013
Dec. 31, 2012
Finite-Lived Intangible Assets, Net [Abstract]
 
 
Amortized intangible assets, Gross Carrying Value
$ 6,817 
$ 4,553 
Accumulated Amortization
(2,797)
(2,492)
Amortized intangible assets, Net Carrying Value
4,020 
2,061 
Intangible Assets, Gross (Excluding Goodwill)
7,277 
5,013 
Total Other Intangible Assets, Net
4,480 
2,521 
Customer contracts and relationships
 
 
Finite-Lived Intangible Assets, Net [Abstract]
 
 
Amortized intangible assets, Gross Carrying Value
5,537 
3,594 
Accumulated Amortization
(2,521)
(2,384)
Amortized intangible assets, Net Carrying Value
3,016 
1,210 
Other
 
 
Finite-Lived Intangible Assets, Net [Abstract]
 
 
Amortized intangible assets, Gross Carrying Value
1,280 
959 
Accumulated Amortization
(276)
(108)
Amortized intangible assets, Net Carrying Value
1,004 
851 
Business licenses
 
 
Finite-Lived Intangible Assets, Net [Abstract]
 
 
Accumulated Amortization
0 
0 
Unamortized intangible assets, Gross Carrying Value
$ 460 
$ 460 
Goodwill and Other Intangible Assets - Estimated Amortization Expense Related to Amortized Intangible Assets (Details) (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2013
Estimated amortization expense related to amortized intangible assets
 
2014
$ 996 
2015
795 
2016
671 
2017
553 
2018
442 
Thereafter
$ 563 
Goodwill and Other Intangible Assets - Additional Information (Details) (USD $)
12 Months Ended 3 Months Ended 12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2013
Marketing & Events U.S.
Dec. 31, 2013
United Kingdom (Melville GES)
Dec. 31, 2013
GES Canada
Dec. 31, 2013
Brewster
Dec. 31, 2013
Alaska Denali Travel
Dec. 31, 2013
Travel & Recreation Group
Dec. 31, 2013
Marketing & Events U.S.
Dec. 31, 2013
Marketing & Events International
Dec. 31, 2013
Customer Contracts
Segment Reporting Information [Line Items]
 
 
 
 
 
 
 
 
 
 
 
 
Goodwill, Impairment Loss
$ 4,461,000 
 
 
 
 
 
 
 
$ 4,461,000 
$ 0 
$ 0 
 
Asset Impairment Charges, Non-Controlling Interest Amount
 
 
 
 
 
 
 
 
892,000 
 
 
 
Percentage of estimated fair values
 
 
 
139.00% 
58.00% 
59.00% 
54.00% 
15.00% 
 
 
 
 
Cumulative goodwill impairment losses
229,700,000 
 
 
 
 
 
 
 
 
 
 
 
Intangible asset amortization expense
$ 1,300,000 
$ 693,000 
$ 772,000 
 
 
 
 
 
 
 
 
 
Finite-Lived Intangible Asset, Useful Life
1 year 9 months 18 days 
 
 
 
 
 
 
 
 
 
 
5 years 2 months 12 days 
Accrued Liabilities and Other - Schedule of Other Current Liabilities (Details) (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2013
Dec. 31, 2012
Continuing operations:
 
 
Customer deposits
$ 29,207 
$ 50,172 
Accrued compensation
15,113 
25,067 
Self-insured liability accrual
7,603 
8,501 
Accrued restructuring
3,877 
4,084 
Accrued sales and use taxes
1,609 
3,179 
Accrued employee benefit costs
2,751 
3,132 
Accrued dividends
2,192 
2,053 
Accrued foreign income taxes
565 
28 
Other
9,573 
9,998 
Total continuing operations
72,490 
106,214 
Discontinued operations:
 
 
Environmental remediation liabilities
353 
571 
Self-insured liability accrual
469 
527 
Other
177 
372 
Total discontinued operations
999 
1,470 
Total other current liabilities
$ 73,489 
$ 107,684 
Accrued Liabilities and Other - Schedule of Other Deferred Items and Liabilities (Details) (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2013
Dec. 31, 2012
Continuing operations:
 
 
Self-insured liability accrual
$ 17,316 
$ 15,579 
Accrued compensation
8,349 
8,061 
Foreign deferred tax liability
1,989 
2,024 
Accrued restructuring
1,919 
3,140 
Other
7,552 
6,734 
Total continuing operations
37,125 
35,538 
Discontinued operations:
 
 
Environmental remediation liabilities
4,666 
4,745 
Self-insured liability accrual
4,489 
5,188 
Accrued income taxes
1,085 
1,053 
Other
1,254 
1,304 
Total discontinued operations
11,494 
12,290 
Total other deferred items and liabilities
$ 48,619 
$ 47,828 
Debt - Schedule of Long-Term Capital Lease Obligation (Details) (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2013
Dec. 31, 2012
Long-term capital lease obligation
 
 
Revolving credit agreement, 2.2% (2013) weighted-average interest rate at December 31, 2013
$ 10,000 
$ 0 
Capital lease obligations, 6.9% (2013) and 6.4% (2012) weighted-average interest rate at December 31, due to 2017
1,668 
2,226 
Long-term Debt, Excluding Current Maturities
11,668 
2,226 
Current portion
(10,903)
(1,347)
Long-term capital lease obligations
$ 765 
$ 879 
Debt - Schedule of Aggregate Annual Maturities of Capital Lease Obligations (Details) (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2013
Dec. 31, 2012
Debt Instrument [Line Items]
 
 
Revolving Credit, Maturity, Total
$ 765 
$ 879 
Capital Leases, Future Minimum Payments Due, 2014
984 
 
Capital Leases, Future Minimum Payments Due, 2015
609 
 
Capital Leases, Future Minimum Payments Due, 2016
186 
 
Capital Leases, Future Minimum Payments Due, 2017
32 
 
Capital Leases, Future Minimum Payments Due, 2018
2 
 
Capital Leases, Future Minimum Payments Due, Total
1,813 
 
Capital Leases, Interest Included in Payments
145 
 
Capital Leases, Present Value of Net Minimum Payments
1,668 
 
Revolving Credit Agreement
 
 
Debt Instrument [Line Items]
 
 
Revolving Credit, Maturity, 2014
10,000 
 
Revolving Credit, Maturity, 2015
0 
 
Revolving Credit, Maturity, 2016
0 
 
Revolving Credit, Maturity, 2017
0 
 
Revolving Credit, Maturity, 2018
0 
 
Revolving Credit, Maturity, Total
$ 10,000 
 
Debt - Additional Information (Details) (USD $)
2 Months Ended 12 Months Ended 12 Months Ended 1 Months Ended
Dec. 31, 2013
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2013
Top Tier Foreign Subsidiaries
May 31, 2011
Revolving Credit Facility
Dec. 31, 2013
Capital Leases
Dec. 31, 2012
Capital Leases
Line of Credit Facility [Line Items]
 
 
 
 
 
 
 
 
Gross amount of assets recorded under capital leases
 
 
 
 
 
 
$ 3,900,000 
$ 5,900,000 
Accumulated Amortization
2,797,000 
2,797,000 
2,492,000 
 
 
 
2,100,000 
2,900,000 
Credit facility
 
 
 
 
 
130,000,000 
 
 
Additional credit facility
 
 
 
 
 
50,000,000 
 
 
Credit facility, period
 
 
 
 
 
5 years 
 
 
Credit facility expiring
 
 
 
 
 
May 18, 2016 
 
 
Letters of credit
 
 
 
 
 
50,000,000 
 
 
Capital stock of top-tier foreign subsidiaries
 
 
 
 
65.00% 
 
 
 
Long-term Debt, Excluding Current Maturities
11,668,000 
11,668,000 
2,226,000 
 
 
 
 
 
Revolving Credit Facility, Balance Outstanding
10,000,000 
10,000,000 
0 
 
 
 
 
 
Remaining borrowing capacity
118,700,000 
118,700,000 
 
 
 
 
 
 
Outstanding letters of credit
1,300,000 
1,300,000 
 
 
 
 
 
 
The fees on the unused portion of the credit facility
 
0.35% 
 
 
 
 
 
 
Line of Credit Facility, Interest Rate During Period
 
2.20% 
 
 
 
 
 
 
Debt (Textual) [Abstract]
 
 
 
 
 
 
 
 
Capital lease obligations, total
1,668,000 
1,668,000 
2,226,000 
 
 
 
 
 
Share repurchases
 
10,000,000 
 
 
 
 
 
 
Percentage of repurchases of shares
 
0.0150 
 
 
 
 
 
 
Dividends declared and paid
 
10,000,000 
 
 
 
 
 
 
Debt Instrument, Covenant, Required Level of Unrestricted Cash and Cash Equivalents
50,000,000 
 
 
 
 
 
 
 
Maximum potential amount of future payments
13,700,000 
13,700,000 
 
 
 
 
 
 
Recourse provisions
 
There are no recourse provisions that would enable Viad to recover from third parties any payments made under the guarantees. 
 
 
 
 
 
 
Collateral arrangements
 
Furthermore, there are no collateral or similar arrangements whereby Viad could recover payments. 
 
 
 
 
 
 
Debt, Weighted Average Interest Rate
4.20% 
4.20% 
8.50% 
7.80% 
 
 
 
 
Estimated fair value of total debt
$ 11,500,000 
$ 11,500,000 
$ 2,100,000 
 
 
 
 
 
Weighted-average interest rate
6.90% 
6.90% 
6.40% 
 
 
 
 
 
Fair Value Measurements - Recurring and Nonrecurring Basis (Details) (USD $)
In Thousands, unless otherwise specified
3 Months Ended 12 Months Ended
Dec. 31, 2013
Sep. 30, 2013
Jun. 30, 2013
Mar. 31, 2013
Dec. 31, 2012
Sep. 30, 2012
Jun. 30, 2012
Mar. 31, 2012
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Fair value information related to assets
 
 
 
 
 
 
 
 
 
 
 
Goodwill impairment charge
$ 0 
$ (5,413)
$ 0 
$ 0 
$ 0 
$ 0 
$ 0 
$ 0 
$ (5,413)
$ 0 
$ 0 
Money market funds
 
 
 
 
 
 
 
 
 
 
 
Fair value information related to assets
 
 
 
 
 
 
 
 
 
 
 
Assets
118 
 
 
 
10,177 
 
 
 
118 
10,177 
 
Other mutual funds
 
 
 
 
 
 
 
 
 
 
 
Fair value information related to assets
 
 
 
 
 
 
 
 
 
 
 
Assets
2,023 
 
 
 
1,239 
 
 
 
2,023 
1,239 
 
Fair Value, Measurements, Recurring
 
 
 
 
 
 
 
 
 
 
 
Fair value information related to assets
 
 
 
 
 
 
 
 
 
 
 
Assets
2,141 
 
 
 
11,416 
 
 
 
2,141 
11,416 
 
Fair Value, Measurements, Recurring |
Quoted Prices in Active Markets (Level 1)
 
 
 
 
 
 
 
 
 
 
 
Fair value information related to assets
 
 
 
 
 
 
 
 
 
 
 
Assets
2,141 
 
 
 
11,416 
 
 
 
2,141 
11,416 
 
Fair Value, Measurements, Recurring |
Quoted Prices in Active Markets (Level 1) |
Money market funds
 
 
 
 
 
 
 
 
 
 
 
Fair value information related to assets
 
 
 
 
 
 
 
 
 
 
 
Assets
118 
 
 
 
10,177 
 
 
 
118 
10,177 
 
Fair Value, Measurements, Recurring |
Quoted Prices in Active Markets (Level 1) |
Other mutual funds
 
 
 
 
 
 
 
 
 
 
 
Fair value information related to assets
 
 
 
 
 
 
 
 
 
 
 
Assets
2,023 
 
 
 
1,239 
 
 
 
2,023 
1,239 
 
Fair Value, Measurements, Recurring |
Significant Other Observable Inputs (Level 2)
 
 
 
 
 
 
 
 
 
 
 
Fair value information related to assets
 
 
 
 
 
 
 
 
 
 
 
Assets
0 
 
 
 
0 
 
 
 
0 
0 
 
Fair Value, Measurements, Recurring |
Significant Other Observable Inputs (Level 2) |
Money market funds
 
 
 
 
 
 
 
 
 
 
 
Fair value information related to assets
 
 
 
 
 
 
 
 
 
 
 
Assets
0 
 
 
 
0 
 
 
 
0 
0 
 
Fair Value, Measurements, Recurring |
Significant Other Observable Inputs (Level 2) |
Other mutual funds
 
 
 
 
 
 
 
 
 
 
 
Fair value information related to assets
 
 
 
 
 
 
 
 
 
 
 
Assets
0 
 
 
 
0 
 
 
 
0 
0 
 
Fair Value, Measurements, Recurring |
Significant Unobserved Inputs (Level 3)
 
 
 
 
 
 
 
 
 
 
 
Fair value information related to assets
 
 
 
 
 
 
 
 
 
 
 
Assets
0 
 
 
 
0 
 
 
 
0 
0 
 
Fair Value, Measurements, Recurring |
Significant Unobserved Inputs (Level 3) |
Money market funds
 
 
 
 
 
 
 
 
 
 
 
Fair value information related to assets
 
 
 
 
 
 
 
 
 
 
 
Assets
0 
 
 
 
0 
 
 
 
0 
0 
 
Fair Value, Measurements, Recurring |
Significant Unobserved Inputs (Level 3) |
Other mutual funds
 
 
 
 
 
 
 
 
 
 
 
Fair value information related to assets
 
 
 
 
 
 
 
 
 
 
 
Assets
0 
 
 
 
0 
 
 
 
0 
0 
 
Fair Value, Measurements, Nonrecurring
 
 
 
 
 
 
 
 
 
 
 
Fair value information related to assets
 
 
 
 
 
 
 
 
 
 
 
Goodwill, Fair Value Disclosure
0 
 
 
 
 
 
 
 
0 
 
 
Property, Plant, and Equipment, Fair Value Disclosure
0 1
 
 
 
 
 
 
 
0 1
 
 
Assets
0 
 
 
 
 
 
 
 
0 
 
 
Goodwill impairment charge
 
 
 
 
 
 
 
 
(5,413)
 
 
Fair Value, Measurements, Nonrecurring |
Goodwill (1)
 
 
 
 
 
 
 
 
 
 
 
Fair value information related to assets
 
 
 
 
 
 
 
 
 
 
 
Goodwill impairment charge
 
 
 
 
 
 
 
 
(4,461)
 
 
Fair Value, Measurements, Nonrecurring |
Property and equipment(1)
 
 
 
 
 
 
 
 
 
 
 
Fair value information related to assets
 
 
 
 
 
 
 
 
 
 
 
Goodwill impairment charge
 
 
 
 
 
 
 
 
(952)1
 
 
Fair Value, Measurements, Nonrecurring |
Quoted Prices in Active Markets (Level 1)
 
 
 
 
 
 
 
 
 
 
 
Fair value information related to assets
 
 
 
 
 
 
 
 
 
 
 
Goodwill, Fair Value Disclosure
0 
 
 
 
 
 
 
 
0 
 
 
Property, Plant, and Equipment, Fair Value Disclosure
0 1
 
 
 
 
 
 
 
0 1
 
 
Assets
0 
 
 
 
 
 
 
 
0 
 
 
Fair Value, Measurements, Nonrecurring |
Significant Other Observable Inputs (Level 2)
 
 
 
 
 
 
 
 
 
 
 
Fair value information related to assets
 
 
 
 
 
 
 
 
 
 
 
Goodwill, Fair Value Disclosure
0 
 
 
 
 
 
 
 
0 
 
 
Property, Plant, and Equipment, Fair Value Disclosure
0 1
 
 
 
 
 
 
 
0 1
 
 
Assets
0 
 
 
 
 
 
 
 
0 
 
 
Fair Value, Measurements, Nonrecurring |
Significant Unobserved Inputs (Level 3)
 
 
 
 
 
 
 
 
 
 
 
Fair value information related to assets
 
 
 
 
 
 
 
 
 
 
 
Goodwill, Fair Value Disclosure
0 
 
 
 
 
 
 
 
0 
 
 
Property, Plant, and Equipment, Fair Value Disclosure
0 1
 
 
 
 
 
 
 
0 1
 
 
Assets
$ 0 
 
 
 
 
 
 
 
$ 0 
 
 
Fair Value Measurements - Additional Information (Details) (USD $)
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Cash and Cash Equivalents [Line Items]
 
 
Unrealized gains on the investments after-tax
$ 429,000 
$ 275,000 
Money market funds
 
 
Cash and Cash Equivalents [Line Items]
 
 
Assets, Fair Value Disclosure
118,000 
10,177,000 
Unrealized gains on the investments
0 
0 
Other mutual funds
 
 
Cash and Cash Equivalents [Line Items]
 
 
Assets, Fair Value Disclosure
2,023,000 
1,239,000 
Unrealized gains on the investments
700,000 
450,000 
Unrealized gains on the investments after-tax
429,000 
275,000 
Fair Value, Measurements, Recurring
 
 
Cash and Cash Equivalents [Line Items]
 
 
Assets, Fair Value Disclosure
$ 2,141,000 
$ 11,416,000 
Income Per Share - Reconciliation of Basic and Diluted Income Per Share (Details) (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 12 Months Ended
Dec. 31, 2013
Sep. 30, 2013
Jun. 30, 2013
Mar. 31, 2013
Dec. 31, 2012
Sep. 30, 2012
Jun. 30, 2012
Mar. 31, 2012
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Numerator:
 
 
 
 
 
 
 
 
 
 
 
Net income attributable to Viad
$ (4,618)1
$ 11,855 1
$ 6,253 1
$ 8,065 1
$ (21,196)1
$ 19,976 1
$ 6,090 1
$ 1,027 1
$ 21,555 
$ 5,897 
$ 9,210 
Less: Allocation to non-vested shares
 
 
 
 
 
 
 
 
(485)
(157)
(248)
Net income allocated to Viad common stockholders
 
 
 
 
 
 
 
 
21,070 
5,740 
8,962 
Denominator:
 
 
 
 
 
 
 
 
 
 
 
Weighted-average outstanding common shares
 
 
 
 
 
 
 
 
19,850 
19,701 
19,719 
Net income attributable to Viad common stockholders (Per Share)
$ (0.23)1 2
$ 0.58 1 2
$ 0.31 1 2
$ 0.40 1 2
$ (1.07)1 2
$ 0.99 1 2
$ 0.30 1 2
$ 0.05 1 2
$ 1.06 
$ 0.29 
$ 0.45 
Numerator:
 
 
 
 
 
 
 
 
 
 
 
Net income attributable to Viad
$ (4,618)1
$ 11,855 1
$ 6,253 1
$ 8,065 1
$ (21,196)1
$ 19,976 1
$ 6,090 1
$ 1,027 1
$ 21,555 
$ 5,897 
$ 9,210 
Denominator:
 
 
 
 
 
 
 
 
 
 
 
Weighted-average outstanding common shares
 
 
 
 
 
 
 
 
19,850 
19,701 
19,719 
Additional dilutive shares related to share-based compensation
 
 
 
 
 
 
 
 
415 
304 
336 
Weighted-average outstanding and potentially dilutive shares
 
 
 
 
 
 
 
 
20,265 
20,005 
20,055 
Net income attributable to Viad common stockholders (per share)
$ (0.23)1 2
$ 0.58 1 2
$ 0.31 1 2
$ 0.40 1 2
$ (1.07)1 2
$ 0.99 1 2
$ 0.30 1 2
$ 0.05 1 2
$ 1.06 
$ 0.29 
$ 0.45 
Income Per Share - Additional Information (Details)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Income Per Share (Textual) [Abstract]
 
 
 
Additional dilutive shares related to share-based compensation
415 
304 
336 
Stock options
 
 
 
Income Per Share (Textual) [Abstract]
 
 
 
Common stock shares effect would be anti-dilutive
47 
110 
304 
Employee Stock Ownership Feature of 401Plan - Employee Stock Ownership Plan (Details) (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Amounts paid by ESOP for:
 
 
 
Debt repayment
$ 1,280 
$ 1,647 
$ 1,490 
Interest
1 
5 
8 
Amounts received from Viad as:
 
 
 
Contributions
1,202 
1,604 
1,435 
Dividends
$ 79 
$ 48 
$ 63 
Employee Stock Ownership Feature of 401Plan - Additional Information (Details) (USD $)
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2004
Dec. 31, 1989
Jan. 31, 2014
Subsequent Event
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]
 
 
 
 
 
 
ESOP borrowing to purchase treasury shares
 
 
 
 
$ 40,000,000 
 
Borrowings of Viad under its revolving credit agreement
 
 
 
12,200,000 
 
 
ESOP, Loan entered with Viad
44,000 
 
 
12,400,000 
 
 
Minimum quarterly principal payments
 
 
 
250,000 
 
 
Reduction of stockholders' equity
 
 
 
250,000 
 
 
Expense recorded by Viad
$ 1,300,000 
$ 1,700,000 
$ 1,600,000 
 
 
 
Unallocated shares
4,361 
130,577 
 
 
 
 
Shares allocated
126,216 
162,703 
 
 
 
4,361 
Preferred Stock Purchase Rights (Details)
Dec. 31, 2013
Preferred Stock Purchase Rights (Textual) [Abstract]
 
Preferred Stock, Authorized
5,000,000 
Junior participating preferred Stock, Authorized
2,000,000 
Accumulated Other Comprehensive Income - Schedules of Accumulated Other Comprehensive Income (Loss) (Details) (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
 
Balance at January 1, 2013
$ 27,465 
Other comprehensive income before reclassifications
(7,675)
Amounts reclassified from AOCI, net of tax
227 
Total other comprehensive income (loss)
(7,448)
Balance at December 31, 2013
20,017 
Unrealized Gains on Investments
 
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
 
Balance at January 1, 2013
275 
Other comprehensive income before reclassifications
215 
Amounts reclassified from AOCI, net of tax
(61)
Total other comprehensive income (loss)
154 
Balance at December 31, 2013
429 
Cumulative Foreign Currency Translation Adjustments
 
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
 
Balance at January 1, 2013
42,158 
Other comprehensive income before reclassifications
(11,311)
Amounts reclassified from AOCI, net of tax
0 
Total other comprehensive income (loss)
(11,311)
Balance at December 31, 2013
30,847 
Unrecognized Net Actuarial Loss and Service Credit
 
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
 
Balance at January 1, 2013
(14,968)
Other comprehensive income before reclassifications
3,421 
Amounts reclassified from AOCI, net of tax
288 
Total other comprehensive income (loss)
3,709 
Balance at December 31, 2013
$ (11,259)
Accumulated Other Comprehensive Income - Reclassification Out of Accumulated Other Comprehensive Income (Details) (USD $)
In Thousands, unless otherwise specified
3 Months Ended 12 Months Ended
Dec. 31, 2013
Sep. 30, 2013
Jun. 30, 2013
Mar. 31, 2013
Dec. 31, 2012
Sep. 30, 2012
Jun. 30, 2012
Mar. 31, 2012
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
 
 
 
 
 
 
 
 
 
 
 
Unrealized gain on investments
 
 
 
 
 
 
 
 
$ (550)
$ (593)
$ (779)
Tax effect
 
 
 
 
 
 
 
 
8,590 
20,843 
3,888 
Amounts reclassified from AOCI, net of tax
(4,740)1
10,849 1
6,253 1
8,065 1
(21,181)1
19,976 1
5,451 1
1,027 1
20,558 
5,959 
9,292 
Reclassification out of Accumulated Other Comprehensive Income |
Unrealized Gains on Investments
 
 
 
 
 
 
 
 
 
 
 
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
 
 
 
 
 
 
 
 
 
 
 
Unrealized gain on investments
 
 
 
 
 
 
 
 
99 
92 
 
Tax effect
 
 
 
 
 
 
 
 
(38)
(35)
 
Amounts reclassified from AOCI, net of tax
 
 
 
 
 
 
 
 
(61)
(57)
 
Reclassification out of Accumulated Other Comprehensive Income |
Unrecognized Net Actuarial Loss and Service Credit
 
 
 
 
 
 
 
 
 
 
 
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
 
 
 
 
 
 
 
 
 
 
 
Tax effect
 
 
 
 
 
 
 
 
159 
42 
 
Recognized net actuarial gain (loss)
 
 
 
 
 
 
 
 
(1,349)2
(1,239)2
 
Amortization of prior service credit
 
 
 
 
 
 
 
 
902 2
1,113 2
 
Amounts reclassified from AOCI, net of tax
 
 
 
 
 
 
 
 
$ (288)
$ (84)
 
Income Taxes - Reconciliation of Income Tax Expense (Details) (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Reconciliation of income tax expense:
 
 
 
Computed income tax expense at statutory federal income tax rate of 35%
$ 10,201 
$ 9,381 
$ 4,613 
State income taxes, net of federal provision
345 
470 
(100)
Foreign tax rate differentials
77 
(2,031)
(1,679)
U.S. tax on foreign earnings U.S. tax on foreign earnings (net of foreign tax credits)
(1,831)
(595)
1,105 
Tax resolutions, net
0 
0 
(103)
Change in valuation allowance
(2,184)
14,220 
(55)
Effective Income Tax Rate Reconciliation, Prior Year Income Taxes, Amount
1,664 
(371)
(43)
Proceeds from life insurance
(196)
(472)
0 
Other, net
514 
241 
150 
Income tax expense
$ 8,590 
$ 20,843 
$ 3,888 
Computed income tax expense at statutory federal income tax rate of 35%, tax rate
35.00% 
35.00% 
35.00% 
State income taxes, net of federal provision, tax rate
1.20% 
1.80% 
(0.80%)
Foreign tax differentials rate
0.30% 
(7.60%)
(12.70%)
U.S. tax on foreign earnings rate
(6.30%)
(2.20%)
8.40% 
Tax resolutions, net tax rate
0.00% 
0.00% 
(0.80%)
Change in valuation allowance, tax rate
(7.50%)
53.10% 
(0.40%)
Proceeds from life insurance rate
(0.70%)
(1.80%)
0.00% 
Effective Income Tax Rate Reconciliation, Prior Year Income Taxes, Percent
5.70% 
(1.40%)
(0.30%)
Other, net, tax rate
1.80% 
0.90% 
1.10% 
Income tax expense
29.50% 
77.80% 
29.50% 
Income Taxes - Schedule of Unrecognized Tax Benefits (Details) (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
 
 
 
Unrecognized Tax Benefits, Beginning Balance
$ 636 
$ 636 
$ 636 
Additions for tax positions taken in prior years
736 
 
 
Reductions for tax positions taken in prior years
0 
0 
0 
Reductions for tax settlements
0 
0 
0 
Reductions for lapse of applicable statutes
0 
0 
0 
Unrecognized Tax Benefits, Ending Balance
1,372 
636 
636 
Continuing Operations
 
 
 
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
 
 
 
Unrecognized Tax Benefits, Beginning Balance
0 
0 
0 
Additions for tax positions taken in prior years
736 
 
 
Reductions for tax positions taken in prior years
0 
0 
0 
Reductions for tax settlements
0 
0 
0 
Reductions for lapse of applicable statutes
0 
0 
0 
Unrecognized Tax Benefits, Ending Balance
736 
0 
0 
Discontinued Operations
 
 
 
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
 
 
 
Unrecognized Tax Benefits, Beginning Balance
636 
636 
636 
Additions for tax positions taken in prior years
0 
 
 
Reductions for tax positions taken in prior years
0 
0 
0 
Reductions for tax settlements
0 
0 
0 
Reductions for lapse of applicable statutes
0 
0 
0 
Unrecognized Tax Benefits, Ending Balance
$ 636 
$ 636 
$ 636 
Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Details) (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2013
Dec. 31, 2012
Deferred tax assets:
 
 
Tax credit carryforwards
$ 26,945 
$ 25,290 
Pension, compensation and other employee benefits
23,835 
31,782 
Provisions for losses
13,674 
15,229 
State income taxes
2,170 
2,813 
Net operating loss carryforward
4,794 
1,755 
Other deferred income tax assets
5,552 
5,331 
Total deferred tax assets
(76,970)
(82,200)
Valuation allowance
(12,393)
(14,576)
Net deferred tax assets
62,864 
66,634 
Deferred tax liabilities:
 
 
Property and equipment
(7,861)
(8,801)
Goodwill and other intangible assets
(959)
(1,306)
Unremitted foreign earnings
(398)
(978)
Deferred tax related to life insurance
(4,842)
(4,992)
Other deferred income tax liabilities
(393)
(176)
Total deferred tax liabilities
(14,453)
(16,253)
Foreign deferred tax liabilities included above
(1,989)
(2,024)
United States deferred tax assets
50,400 
52,405 
Foreign Tax Authority
 
 
Deferred tax assets:
 
 
Total deferred tax assets
$ (1,713)
$ (990)
Income Taxes - Schedule of Income Tax Expense (Details) (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Current:
 
 
 
Federal
$ (2,134)
$ (272)
$ (4,643)
State
(286)
2,189 
1,292 
Foreign
9,606 
7,652 
8,163 
Total current income tax expense (benefit)
7,186 
9,569 
4,812 
Deferred
 
 
 
Federal
1,113 
11,127 
992 
State
651 
40 
(1,560)
Foreign
(360)
107 
(356)
Total deferred income tax expense (benefit)
1,404 
11,274 
(924)
Income tax expense
$ 8,590 
$ 20,843 
$ 3,888 
Income Taxes -Schedule of Domestic and Foreign Income Before Income Tax (Details 4) (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Extraordinary Items, Noncontrolling Interest [Abstract]
 
 
 
Foreign
$ 25,010 
$ 29,645 
$ 29,407 
United States
4,138 
(2,843)
(16,227)
Income from continuing operations before income taxes
$ 29,148 
$ 26,802 
$ 13,180 
Income Taxes - Additional Information (Details) (USD $)
3 Months Ended 12 Months Ended 3 Months Ended 12 Months Ended
Mar. 31, 2012
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2013
Foreign Tax Authority
Dec. 31, 2013
Foreign Tax Authority
Dec. 31, 2012
Foreign Tax Authority
Dec. 31, 2013
Federal, State, Foreign
Dec. 31, 2012
Federal, State, Foreign
Dec. 31, 2013
State and Foreign
Dec. 31, 2012
State and Foreign
Dec. 31, 2013
Alternative Minimum Tax Credit Carryforward
Operating Loss Carryforwards [Line Items]
 
 
 
 
 
 
 
 
 
 
 
 
Increase (Decrease) in Uncertain Tax Liability
$ 0 
$ 736,000 
 
 
 
 
 
 
 
 
 
 
Liability for Uncertain Tax Positions, Noncurrent
 
1,800,000 
1,100,000 
 
 
 
 
 
 
 
 
 
Accrued Interest And Penalties For Continued Operations
 
20,000 
 
 
 
 
 
 
 
 
 
 
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense
 
200,000 
 
 
 
 
 
 
 
 
 
 
Significant Change in Unrecognized Tax Benefits is Reasonably Possible, Amount of Unrecorded Benefit
 
293,000 
 
 
 
 
 
 
 
 
 
 
Effective Income Tax Rate Reconciliation, Tax Settlement, Amount
 
0 
0 
103,000 
 
 
 
 
 
 
 
 
Disposal Group, Including Discontinued Operation, Accrued Income Taxes Payable
 
636,000 
636,000 
 
 
 
 
 
 
 
 
 
Accrued Interest and Penalties for Discontinued Operations
 
450,000 
418,000 
 
 
 
 
 
 
 
 
 
Deferred Tax Assets, Gross
 
76,970,000 
82,200,000 
 
1,713,000 
1,713,000 
990,000 
 
 
 
 
 
Tax Credit Carryforward, Valuation Allowance
 
 
 
 
10,900,000 
10,900,000 
13,400,000 
 
 
 
 
 
Increase (Decrease) in Tax Credit Carryforward
 
 
 
 
 
1,900,000 
 
 
 
 
 
 
Valuation Allowance, Deferred Tax Asset, Change in Amount
 
 
 
 
4,100,000 
1,900,000 
 
 
 
 
 
 
Increase (Decrease) in Deferred Income Taxes
 
2,200,000 
 
 
 
2,500,000 
 
 
 
 
 
 
Deferred Tax Asset, Increase (Decrease) during the period
 
300,000 
 
 
 
 
 
 
 
 
 
 
Operating Loss Carryforwards
 
 
 
 
 
 
 
96,000,000 
82,000,000 
 
 
 
Deferred Tax Assets, Operating Loss Carryforwards
 
4,794,000 
1,755,000 
 
 
 
 
4,800,000 
1,800,000 
 
 
 
Valuation Allowance Operating Loss Carryforwards Change In Amount
 
 
 
 
 
 
 
 
 
329,000 
 
 
Deferred Tax Assets, Valuation Allowance
 
12,393,000 
14,576,000 
 
 
 
 
 
 
1,500,000 
1,200,000 
 
Tax Credit Carryforward, Amount
 
 
 
 
 
 
 
 
 
 
 
11,300,000 
Deferred Tax Assets, Tax Credit Carryforwards, Foreign
 
15,000,000 
 
 
 
 
 
 
 
 
 
 
Foreign Tax Credit Carryforward Expire On Two Thousand Nineteen
 
 
 
 
222,000 
222,000 
 
 
 
 
 
 
Foreign Tax Credit Carryforward Expire On Two Thousand Twenty
 
 
 
 
8,300,000 
8,300,000 
 
 
 
 
 
 
Foreign Tax Credit Carryforward Expire On Two Thousand Twenty One
 
 
 
 
4,400,000 
4,400,000 
 
 
 
 
 
 
Foreign Tax Credit Carryforward Expire On Two Thousand Twenty Two
 
 
 
 
2,100,000 
2,100,000 
 
 
 
 
 
 
Deferred Tax Assets, Tax Credit Carryforwards, General Business
 
622,000 
 
 
 
 
 
 
 
 
 
 
Unrecognized Tax Liability For Undistributed Foreign Earnings
 
1,000,000 
 
 
 
 
 
 
 
 
 
 
Tax deficiencies from share-based compensation
 
$ 404,000 
$ 96,000 
$ (325,000)
 
 
 
 
 
 
 
 
Pension and Postretirement Benefits - Components of net periodic benefit cost and other amounts recognized in other comprehensive income of Viad's postretirement benefit plans (Details) (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive income
 
 
 
Reversal of amortization of net actuarial loss
$ 416 
 
 
Pension Plans
 
 
 
Net periodic benefit cost of pension and post retirement benefit plans
 
 
 
Service cost
66 
104 
121 
Interest cost
1,030 
1,150 
1,189 
Expected return on plan assets
(400)
(406)
(563)
Recognized net actuarial loss
583 
491 
457 
Net periodic benefit cost
1,279 
1,339 
1,204 
Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive income
 
 
 
Net actuarial loss
2,565 
(1,942)
(1,589)
Reversal of amortization item
 
 
 
Net actuarial loss
(583)
(491)
(457)
Total recognized in other comprehensive income
(3,148)
1,451 
1,132 
Total recognized in net periodic benefit cost and other comprehensive income
(1,869)
2,790 
2,336 
US Postretirement Benefit Plans
 
 
 
Net periodic benefit cost of pension and post retirement benefit plans
 
 
 
Service cost
156 
146 
128 
Interest cost
663 
814 
868 
Expected return on plan assets
0 
(74)
(135)
Amortization of prior service credit
(902)
(1,113)
(1,277)
Recognized net actuarial loss
518 
547 
533 
Net periodic benefit cost
435 
320 
117 
Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive income
 
 
 
Net actuarial loss
1,496 
(224)
(24)
Prior service credit
(40)
0 
0 
Reversal of amortization item
 
 
 
Net actuarial loss
(518)
(547)
(533)
Prior service cost
(902)
(1,113)
(1,277)
Total recognized in other comprehensive income
(1,152)
790 
768 
Total recognized in net periodic benefit cost and other comprehensive income
(717)
1,110 
885 
Foreign Pension Plans
 
 
 
Net periodic benefit cost of pension and post retirement benefit plans
 
 
 
Service cost
534 
491 
366 
Interest cost
702 
737 
729 
Expected return on plan assets
(698)
(622)
(665)
Recognized net actuarial loss
248 
201 
73 
Net periodic benefit cost
786 
807 
503 
Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive income
 
 
 
Net actuarial loss
1,214 
(958)
(1,936)
Reversal of amortization of net actuarial loss
(248)
(201)
(73)
Reversal of amortization item
 
 
 
Total recognized in other comprehensive income
(1,462)
757 
1,863 
Total recognized in net periodic benefit cost and other comprehensive income
$ (676)
$ 1,564 
$ 2,366 
Pension and Postretirement Benefits - Summary of funded status of the plans (Details) (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Funded Plans
 
 
 
Change in benefit obligation:
 
 
 
Benefit obligation at beginning of year
$ 15,348 
$ 13,938 
 
Service cost
0 
0 
 
Interest cost
608 
659 
 
Recognized net actuarial loss
(1,530)
1,419 
 
Plan amendments
0 
0 
 
Benefits paid
(991)
(668)
 
Benefit obligation at end of year
13,435 
15,348 
 
Change in plan assets:
 
 
 
Fair value of plan assets at beginning of year
10,624 
9,846 
 
Actual return on plan assets
580 
683 
 
Company contributions
659 
763 
 
Benefits paid
(991)
(668)
 
Fair value of plan assets at end of year
10,872 
10,624 
 
Funded status at end of year
(2,563)
(4,724)
 
Unfunded Pension Plans
 
 
 
Change in benefit obligation:
 
 
 
Benefit obligation at beginning of year
11,570 
10,883 
 
Service cost
66 
104 
 
Interest cost
422 
491 
 
Recognized net actuarial loss
(856)
799 
 
Plan amendments
0 
0 
 
Benefits paid
(666)
(707)
 
Benefit obligation at end of year
10,536 
11,570 
 
Change in plan assets:
 
 
 
Fair value of plan assets at beginning of year
0 
0 
 
Actual return on plan assets
0 
0 
 
Company contributions
666 
707 
 
Benefits paid
(666)
(707)
 
Fair value of plan assets at end of year
0 
0 
 
Funded status at end of year
(10,536)
(11,570)
 
Postretirement Benefit Plans
 
 
 
Change in benefit obligation:
 
 
 
Benefit obligation at beginning of year
18,701 
18,667 
 
Service cost
156 
146 
 
Interest cost
663 
814 
 
Recognized net actuarial loss
(1,631)
250 
 
Plan amendments
(40)
0 
 
Benefits paid
(930)
(1,176)
 
Benefit obligation at end of year
16,919 
18,701 
 
Change in plan assets:
 
 
 
Fair value of plan assets at beginning of year
1,397 
2,118 
 
Actual return on plan assets
(135)
100 
 
Company contributions
188 
355 
 
Benefits paid
(930)
(1,176)
 
Fair value of plan assets at end of year
520 
1,397 
 
Funded status at end of year
(16,399)
(17,304)
 
US Postretirement Benefit Plans
 
 
 
Change in benefit obligation:
 
 
 
Service cost
156 
146 
128 
Interest cost
663 
814 
868 
Recognized net actuarial loss
518 
547 
533 
Change in plan assets:
 
 
 
Fair value of plan assets at end of year
520 
 
 
Foreign Pension Plans
 
 
 
Change in benefit obligation:
 
 
 
Service cost
534 
491 
366 
Interest cost
702 
737 
729 
Recognized net actuarial loss
248 
201 
73 
Change in plan assets:
 
 
 
Fair value of plan assets at beginning of year
12,997 
 
 
Fair value of plan assets at end of year
11,560 
12,997 
 
Foreign Pension Plans |
Funded Plans
 
 
 
Change in benefit obligation:
 
 
 
Benefit obligation at beginning of year
15,387 
13,141 
 
Service cost
534 
491 
 
Interest cost
582 
607 
 
Recognized net actuarial loss
473 
(1,086)
 
Benefits paid
(3,644)
(328)
 
Translation adjustment
(926)
390 
 
Benefit obligation at end of year
11,460 
15,387 
 
Change in plan assets:
 
 
 
Fair value of plan assets at beginning of year
12,997 
11,028 
 
Actual return on plan assets
1,148 
860 
 
Company contributions
1,892 
1,111 
 
Benefits paid
(3,644)
(328)
 
Translation adjustment
(833)
326 
 
Fair value of plan assets at end of year
11,560 
12,997 
 
Funded status at end of year
100 
(2,390)
 
Foreign Pension Plans |
Unfunded Pension Plans
 
 
 
Change in benefit obligation:
 
 
 
Benefit obligation at beginning of year
3,032 
2,939 
 
Service cost
0 
0 
 
Interest cost
120 
130 
 
Recognized net actuarial loss
(44)
(113)
 
Benefits paid
(219)
(220)
 
Translation adjustment
(66)
70 
 
Benefit obligation at end of year
2,911 
3,032 
 
Change in plan assets:
 
 
 
Fair value of plan assets at beginning of year
0 
0 
 
Actual return on plan assets
0 
0 
 
Company contributions
219 
220 
 
Benefits paid
(219)
(220)
 
Translation adjustment
0 
0 
 
Fair value of plan assets at end of year
0 
0 
 
Funded status at end of year
$ (2,911)
$ (3,032)
 
Pension and Postretirement Benefits - Net amount recognized in Viad's consolidated balance sheets (Details) (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2013
Dec. 31, 2012
Funded Plans
 
 
Net amounts recognized in Viad's consolidated balance sheets under the caption Pension and postretirement benefits
 
 
Net amount recognized
$ 2,563 
$ 4,724 
Funded Plans |
Other current liabilities
 
 
Net amounts recognized in Viad's consolidated balance sheets under the caption Pension and postretirement benefits
 
 
Net amount recognized
0 
0 
Funded Plans |
Non Current Liabilities
 
 
Net amounts recognized in Viad's consolidated balance sheets under the caption Pension and postretirement benefits
 
 
Net amount recognized
2,563 
4,724 
Unfunded Pension Plans
 
 
Net amounts recognized in Viad's consolidated balance sheets under the caption Pension and postretirement benefits
 
 
Net amount recognized
10,536 
11,570 
Unfunded Pension Plans |
Other current liabilities
 
 
Net amounts recognized in Viad's consolidated balance sheets under the caption Pension and postretirement benefits
 
 
Net amount recognized
713 
816 
Unfunded Pension Plans |
Non Current Liabilities
 
 
Net amounts recognized in Viad's consolidated balance sheets under the caption Pension and postretirement benefits
 
 
Net amount recognized
9,823 
10,754 
US Postretirement Benefit Plans
 
 
Net amounts recognized in Viad's consolidated balance sheets under the caption Pension and postretirement benefits
 
 
Net amount recognized
16,399 
17,304 
US Postretirement Benefit Plans |
Other current liabilities
 
 
Net amounts recognized in Viad's consolidated balance sheets under the caption Pension and postretirement benefits
 
 
Net amount recognized
928 
392 
US Postretirement Benefit Plans |
Non Current Liabilities
 
 
Net amounts recognized in Viad's consolidated balance sheets under the caption Pension and postretirement benefits
 
 
Net amount recognized
$ 15,471 
$ 16,912 
Pension and Postretirement Benefits - Amounts recognized in accumulated other comprehensive income (Details) (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2013
Dec. 31, 2012
Amounts recognized in accumulated other comprehensive income
 
 
Pension and Other Postretirement Benefit Plans, Accumulated Other Comprehensive Income (Loss), Net Gains (Losses), before Tax
$ 15,144 
$ 20,306 
Prior service credit
(2,038)
(2,900)
Subtotal
13,106 
17,406 
Less tax effect
(4,970)
(6,601)
Total
8,136 
10,805 
Funded Plans
 
 
Amounts recognized in accumulated other comprehensive income
 
 
Pension and Other Postretirement Benefit Plans, Accumulated Other Comprehensive Income (Loss), Net Gains (Losses), before Tax
6,972 
9,052 
Prior service credit
0 
0 
Subtotal
6,972 
9,052 
Less tax effect
(2,644)
(3,433)
Total
4,328 
5,619 
Unfunded Pension Plans
 
 
Amounts recognized in accumulated other comprehensive income
 
 
Pension and Other Postretirement Benefit Plans, Accumulated Other Comprehensive Income (Loss), Net Gains (Losses), before Tax
3,480 
4,548 
Prior service credit
0 
0 
Subtotal
3,480 
4,548 
Less tax effect
(1,320)
(1,725)
Total
2,160 
2,823 
US Postretirement Benefit Plans
 
 
Amounts recognized in accumulated other comprehensive income
 
 
Pension and Other Postretirement Benefit Plans, Accumulated Other Comprehensive Income (Loss), Net Gains (Losses), before Tax
4,692 
6,706 
Prior service credit
(2,038)
(2,900)
Subtotal
2,654 
3,806 
Less tax effect
(1,006)
(1,443)
Total
$ 1,648 
$ 2,363 
Pension and Postretirement Benefits - Fair value of the domestic plans' assets by asset class (Details) (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2013
Dec. 31, 2012
Pension Plans
 
 
Fair value of the domestic plans assets by asset class
 
 
Fair value measurement domestic pension plans
$ 10,872 
$ 10,624 
Pension Plans |
Quoted Prices in Active Markets (Level 1)
 
 
Fair value of the domestic plans assets by asset class
 
 
Fair value measurement domestic pension plans
10,655 
10,401 
Pension Plans |
Significant Other Observable Inputs (Level 2)
 
 
Fair value of the domestic plans assets by asset class
 
 
Fair value measurement domestic pension plans
217 
223 
Pension Plans |
Significant Unobserved Inputs (Level 3)
 
 
Fair value of the domestic plans assets by asset class
 
 
Fair value measurement domestic pension plans
0 
0 
US Postretirement Benefit Plans
 
 
Fair value of the domestic plans assets by asset class
 
 
Fair value measurement domestic pension plans
520 
 
US Postretirement Benefit Plans |
Quoted Prices in Active Markets (Level 1)
 
 
Fair value of the domestic plans assets by asset class
 
 
Fair value measurement domestic pension plans
520 
 
US Postretirement Benefit Plans |
Significant Other Observable Inputs (Level 2)
 
 
Fair value of the domestic plans assets by asset class
 
 
Fair value measurement domestic pension plans
0 
 
US Postretirement Benefit Plans |
Significant Unobserved Inputs (Level 3)
 
 
Fair value of the domestic plans assets by asset class
 
 
Fair value measurement domestic pension plans
0 
 
Foreign Pension Plans
 
 
Fair value of the domestic plans assets by asset class
 
 
Fair value measurement domestic pension plans
11,560 
12,997 
Foreign Pension Plans |
Quoted Prices in Active Markets (Level 1)
 
 
Fair value of the domestic plans assets by asset class
 
 
Fair value measurement domestic pension plans
11,165 
12,620 
Foreign Pension Plans |
Significant Other Observable Inputs (Level 2)
 
 
Fair value of the domestic plans assets by asset class
 
 
Fair value measurement domestic pension plans
395 
377 
Foreign Pension Plans |
Significant Unobserved Inputs (Level 3)
 
 
Fair value of the domestic plans assets by asset class
 
 
Fair value measurement domestic pension plans
0 
0 
Aggregate fixed income securities |
Pension Plans
 
 
Fair value of the domestic plans assets by asset class
 
 
Fair value measurement domestic pension plans
5,966 
 
Aggregate fixed income securities |
Pension Plans |
Quoted Prices in Active Markets (Level 1)
 
 
Fair value of the domestic plans assets by asset class
 
 
Fair value measurement domestic pension plans
5,966 
 
Aggregate fixed income securities |
Pension Plans |
Significant Other Observable Inputs (Level 2)
 
 
Fair value of the domestic plans assets by asset class
 
 
Fair value measurement domestic pension plans
0 
 
Aggregate fixed income securities |
Pension Plans |
Significant Unobserved Inputs (Level 3)
 
 
Fair value of the domestic plans assets by asset class
 
 
Fair value measurement domestic pension plans
0 
 
Aggregate fixed income securities |
US Postretirement Benefit Plans
 
 
Fair value of the domestic plans assets by asset class
 
 
Fair value measurement domestic pension plans
407 
 
Aggregate fixed income securities |
US Postretirement Benefit Plans |
Quoted Prices in Active Markets (Level 1)
 
 
Fair value of the domestic plans assets by asset class
 
 
Fair value measurement domestic pension plans
407 
 
Aggregate fixed income securities |
US Postretirement Benefit Plans |
Significant Other Observable Inputs (Level 2)
 
 
Fair value of the domestic plans assets by asset class
 
 
Fair value measurement domestic pension plans
0 
 
Aggregate fixed income securities |
US Postretirement Benefit Plans |
Significant Unobserved Inputs (Level 3)
 
 
Fair value of the domestic plans assets by asset class
 
 
Fair value measurement domestic pension plans
0 
 
U.S. equity securities |
Pension Plans
 
 
Fair value of the domestic plans assets by asset class
 
 
Fair value measurement domestic pension plans
4,542 
 
U.S. equity securities |
Pension Plans |
Quoted Prices in Active Markets (Level 1)
 
 
Fair value of the domestic plans assets by asset class
 
 
Fair value measurement domestic pension plans
4,542 
 
U.S. equity securities |
Pension Plans |
Significant Other Observable Inputs (Level 2)
 
 
Fair value of the domestic plans assets by asset class
 
 
Fair value measurement domestic pension plans
0 
 
U.S. equity securities |
Pension Plans |
Significant Unobserved Inputs (Level 3)
 
 
Fair value of the domestic plans assets by asset class
 
 
Fair value measurement domestic pension plans
0 
 
U.S. equity securities |
US Postretirement Benefit Plans
 
 
Fair value of the domestic plans assets by asset class
 
 
Fair value measurement domestic pension plans
109 
 
U.S. equity securities |
US Postretirement Benefit Plans |
Quoted Prices in Active Markets (Level 1)
 
 
Fair value of the domestic plans assets by asset class
 
 
Fair value measurement domestic pension plans
109 
 
U.S. equity securities |
US Postretirement Benefit Plans |
Significant Other Observable Inputs (Level 2)
 
 
Fair value of the domestic plans assets by asset class
 
 
Fair value measurement domestic pension plans
0 
 
U.S. equity securities |
US Postretirement Benefit Plans |
Significant Unobserved Inputs (Level 3)
 
 
Fair value of the domestic plans assets by asset class
 
 
Fair value measurement domestic pension plans
0 
 
U.S. equity securities |
Foreign Pension Plans
 
 
Fair value of the domestic plans assets by asset class
 
 
Fair value measurement domestic pension plans
1,269 
1,185 
U.S. equity securities |
Foreign Pension Plans |
Quoted Prices in Active Markets (Level 1)
 
 
Fair value of the domestic plans assets by asset class
 
 
Fair value measurement domestic pension plans
1,269 
1,185 
U.S. equity securities |
Foreign Pension Plans |
Significant Other Observable Inputs (Level 2)
 
 
Fair value of the domestic plans assets by asset class
 
 
Fair value measurement domestic pension plans
0 
0 
U.S. equity securities |
Foreign Pension Plans |
Significant Unobserved Inputs (Level 3)
 
 
Fair value of the domestic plans assets by asset class
 
 
Fair value measurement domestic pension plans
0 
0 
Cash |
Pension Plans
 
 
Fair value of the domestic plans assets by asset class
 
 
Fair value measurement domestic pension plans
147 
10,401 
Cash |
Pension Plans |
Quoted Prices in Active Markets (Level 1)
 
 
Fair value of the domestic plans assets by asset class
 
 
Fair value measurement domestic pension plans
147 
10,401 
Cash |
Pension Plans |
Significant Other Observable Inputs (Level 2)
 
 
Fair value of the domestic plans assets by asset class
 
 
Fair value measurement domestic pension plans
0 
0 
Cash |
Pension Plans |
Significant Unobserved Inputs (Level 3)
 
 
Fair value of the domestic plans assets by asset class
 
 
Fair value measurement domestic pension plans
0 
0 
Cash |
US Postretirement Benefit Plans
 
 
Fair value of the domestic plans assets by asset class
 
 
Fair value measurement domestic pension plans
4 
1,397 
Cash |
US Postretirement Benefit Plans |
Quoted Prices in Active Markets (Level 1)
 
 
Fair value of the domestic plans assets by asset class
 
 
Fair value measurement domestic pension plans
4 
1,397 
Cash |
US Postretirement Benefit Plans |
Significant Other Observable Inputs (Level 2)
 
 
Fair value of the domestic plans assets by asset class
 
 
Fair value measurement domestic pension plans
0 
0 
Cash |
US Postretirement Benefit Plans |
Significant Unobserved Inputs (Level 3)
 
 
Fair value of the domestic plans assets by asset class
 
 
Fair value measurement domestic pension plans
0 
0 
Equity Securities |
Pension Plans
 
 
Fair value of the domestic plans assets by asset class
 
 
Fair value measurement domestic pension plans
217 
223 
Equity Securities |
Pension Plans |
Quoted Prices in Active Markets (Level 1)
 
 
Fair value of the domestic plans assets by asset class
 
 
Fair value measurement domestic pension plans
0 
0 
Equity Securities |
Pension Plans |
Significant Other Observable Inputs (Level 2)
 
 
Fair value of the domestic plans assets by asset class
 
 
Fair value measurement domestic pension plans
217 
223 
Equity Securities |
Pension Plans |
Significant Unobserved Inputs (Level 3)
 
 
Fair value of the domestic plans assets by asset class
 
 
Fair value measurement domestic pension plans
0 
0 
Equity Securities |
Foreign Pension Plans
 
 
Fair value of the domestic plans assets by asset class
 
 
Fair value measurement domestic pension plans
336 
197 
Equity Securities |
Foreign Pension Plans |
Quoted Prices in Active Markets (Level 1)
 
 
Fair value of the domestic plans assets by asset class
 
 
Fair value measurement domestic pension plans
336 
197 
Equity Securities |
Foreign Pension Plans |
Significant Other Observable Inputs (Level 2)
 
 
Fair value of the domestic plans assets by asset class
 
 
Fair value measurement domestic pension plans
0 
0 
Equity Securities |
Foreign Pension Plans |
Significant Unobserved Inputs (Level 3)
 
 
Fair value of the domestic plans assets by asset class
 
 
Fair value measurement domestic pension plans
0 
0 
Canadian Fixed Income Securities |
Foreign Pension Plans
 
 
Fair value of the domestic plans assets by asset class
 
 
Fair value measurement domestic pension plans
5,174 
6,744 
Canadian Fixed Income Securities |
Foreign Pension Plans |
Quoted Prices in Active Markets (Level 1)
 
 
Fair value of the domestic plans assets by asset class
 
 
Fair value measurement domestic pension plans
5,174 
6,744 
Canadian Fixed Income Securities |
Foreign Pension Plans |
Significant Other Observable Inputs (Level 2)
 
 
Fair value of the domestic plans assets by asset class
 
 
Fair value measurement domestic pension plans
0 
0 
Canadian Fixed Income Securities |
Foreign Pension Plans |
Significant Unobserved Inputs (Level 3)
 
 
Fair value of the domestic plans assets by asset class
 
 
Fair value measurement domestic pension plans
0 
0 
International equity securities |
Foreign Pension Plans
 
 
Fair value of the domestic plans assets by asset class
 
 
Fair value measurement domestic pension plans
4,781 
4,871 
International equity securities |
Foreign Pension Plans |
Quoted Prices in Active Markets (Level 1)
 
 
Fair value of the domestic plans assets by asset class
 
 
Fair value measurement domestic pension plans
4,386 
4,494 
International equity securities |
Foreign Pension Plans |
Significant Other Observable Inputs (Level 2)
 
 
Fair value of the domestic plans assets by asset class
 
 
Fair value measurement domestic pension plans
395 
377 
International equity securities |
Foreign Pension Plans |
Significant Unobserved Inputs (Level 3)
 
 
Fair value of the domestic plans assets by asset class
 
 
Fair value measurement domestic pension plans
$ 0 
$ 0 
Pension and Postretirement Benefits - Payments and receipts reflecting expected future service (Details) (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2013
Expected future service expected to be paid
 
Medicare Part D Subsidy Receipts, 2014
$ 254 
Medicare Part D Subsidy Receipts, 2015
254 
Medicare Part D Subsidy Receipts, 2016
253 
Medicare Part D Subsidy Receipts, 2017
251 
Medicare Part D Subsidy Receipts, 2018
247 
Medicare Part D Subsidy Receipts, 2019-2023
1,169 
Funded Plans
 
Expected future service expected to be paid
 
2014
853 
2015
879 
2016
830 
2017
865 
2018
857 
2019-2023
4,668 
Unfunded Pension Plans
 
Expected future service expected to be paid
 
2014
729 
2015
716 
2016
806 
2017
827 
2018
894 
2019-2023
4,211 
US Postretirement Benefit Plans
 
Expected future service expected to be paid
 
2014
1,739 
2015
1,702 
2016
1,691 
2017
1,649 
2018
1,609 
2019-2023
7,330 
Foreign Pension Plans |
Funded Plans
 
Expected future service expected to be paid
 
2014
365 
2015
480 
2016
485 
2017
488 
2018
512 
2019-2023
3,226 
Foreign Pension Plans |
Unfunded Pension Plans
 
Expected future service expected to be paid
 
2014
213 
2015
213 
2016
212 
2017
212 
2018
211 
2019-2023
$ 1,051 
Pension and Postretirement Benefits - Accumulated benefit obligation in excess of plan assets (Details) (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2013
Dec. 31, 2012
Domestic Pension Plans |
Funded Plans
 
 
Accumulated benefit obligation in excess of plan assets
 
 
Projected Benefit obligation
$ 13,435 
$ 15,348 
Accumulated benefit obligation
13,435 
15,348 
Fair value of Plan assets
10,872 
10,624 
Domestic Pension Plans |
Unfunded Pension Plans
 
 
Accumulated benefit obligation in excess of plan assets
 
 
Projected Benefit obligation
10,536 
11,570 
Accumulated benefit obligation
10,227 
11,322 
Fair value of Plan assets
0 
0 
Foreign Plans |
Funded Plans
 
 
Accumulated benefit obligation in excess of plan assets
 
 
Projected Benefit obligation
11,460 
15,387 
Accumulated benefit obligation
10,823 
14,307 
Fair value of Plan assets
11,560 
12,997 
Foreign Plans |
Unfunded Pension Plans
 
 
Accumulated benefit obligation in excess of plan assets
 
 
Projected Benefit obligation
2,911 
3,032 
Accumulated benefit obligation
2,911 
3,032 
Fair value of Plan assets
$ 0 
$ 0 
Pension and Postretirement Benefits - Weighted-average assumptions used to determine benefit obligations (Details)
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Pension Plans |
Funded Plans
 
 
Weighted-average assumptions used to determine benefit obligations
 
 
Discount rate
4.89% 
4.11% 
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract]
 
 
Discount rate
4.09% 
4.93% 
Expected return on plan assets
3.90% 
4.20% 
Pension Plans |
Unfunded Pension Plans
 
 
Weighted-average assumptions used to determine benefit obligations
 
 
Discount rate
4.60% 
3.80% 
Rate of compensation increase
3.00% 
4.50% 
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract]
 
 
Discount rate
3.80% 
4.75% 
Rate of compensation increase
4.50% 
4.50% 
US Postretirement Benefit Plans
 
 
Weighted-average assumptions used to determine benefit obligations
 
 
Discount rate
4.65% 
3.85% 
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract]
 
 
Discount rate
3.85% 
4.70% 
Expected return on plan assets
0.00% 
4.65% 
Foreign Pension Plans
 
 
Weighted-average assumptions used to determine benefit obligations
 
 
Discount rate
4.67% 
4.06% 
Rate of compensation increase
3.00% 
3.00% 
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract]
 
 
Discount rate
4.03% 
4.65% 
Expected return on plan assets
5.44% 
5.45% 
Rate of compensation increase
3.00% 
3.00% 
Pension and Postretirement Benefits - Multi-employer pension plans (Details) (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Multi-employer pension plans
 
 
 
Viad Contribution
$ 20,313 
$ 20,669 
$ 19,601 
Western Conference of Teamsters Pension Plan
 
 
 
Multi-employer pension plans
 
 
 
EIN
916145047 
 
 
Plan No:
001 
 
 
Pension Protection Act Zone Status
Green 
Green 
 
FIP/RP Status Pending/ Implemented
No 
 
 
Viad Contribution
5,524 
5,694 
5,720 
Surcharge Paid
No 
 
 
Collective bargaining agreements expiration date, first
Mar. 31, 2014 
 
 
Collective bargaining agreements expiration date, last
May 31, 2015 
 
 
Southern California Local 831—Employer Pension Fund(1)
 
 
 
Multi-employer pension plans
 
 
 
EIN
956376874 
 
 
Plan No:
001 1
 
 
Pension Protection Act Zone Status
Green 1
Green 1
 
FIP/RP Status Pending/ Implemented
No 1
 
 
Viad Contribution
2,244 1
2,358 1
2,232 1
Surcharge Paid
No 1
 
 
Collective bargaining agreements expiration date
Aug. 31, 2014 1
 
 
National Electrical Benefit Fund
 
 
 
Multi-employer pension plans
 
 
 
EIN
530181657 
 
 
Plan No:
001 
 
 
Pension Protection Act Zone Status
Green 
Green 
 
FIP/RP Status Pending/ Implemented
No 
 
 
Viad Contribution
1,631 
1,814 
1,691 
Surcharge Paid
No 
 
 
Collective bargaining agreements expiration date, first
May 31, 2014 
 
 
Collective bargaining agreements expiration date, last
Jun. 16, 2014 
 
 
Chicago Regional Council of Carpenters Pension Fund(2)
 
 
 
Multi-employer pension plans
 
 
 
EIN
366130207 
 
 
Plan No:
001 2
 
 
Pension Protection Act Zone Status
Yellow 2
Yellow 2
 
FIP/RP Status Pending/ Implemented
Implemented 
 
 
Viad Contribution
1,614 2
1,749 2
1,411 2
Surcharge Paid
No 2
 
 
Collective bargaining agreements expiration date
May 31, 2014 2
 
 
Electrical Contractors Assoc. Chicago Local Union 134, IBEW Joint Pension Trust of Chicago Plan 2
 
 
 
Multi-employer pension plans
 
 
 
EIN
366130207 
 
 
Plan No:
002 
 
 
Pension Protection Act Zone Status
Green 
Green 
 
FIP/RP Status Pending/ Implemented
No 
 
 
Viad Contribution
957 
108 
0 
Surcharge Paid
No 
 
 
Collective bargaining agreements expiration date
Jun. 03, 2014 
 
 
Central States, Southeast and Southwest Areas Pension Plan
 
 
 
Multi-employer pension plans
 
 
 
EIN
366044243 
 
 
Plan No:
001 
 
 
Pension Protection Act Zone Status
Red 
Red 
 
FIP/RP Status Pending/ Implemented
Implemented 
 
 
Viad Contribution
836 
874 
725 
Surcharge Paid
No 
 
 
Collective bargaining agreements expiration date
Jul. 31, 2015 
 
 
Southwest Carpenters Pension Trust
 
 
 
Multi-employer pension plans
 
 
 
EIN
956042875 
 
 
Plan No:
001 
 
 
Pension Protection Act Zone Status
Green 
Green 
 
FIP/RP Status Pending/ Implemented
No 
 
 
Viad Contribution
812 
944 
1,031 
Surcharge Paid
No 
 
 
Collective bargaining agreements expiration date
Jun. 30, 2015 
 
 
Machinery Movers Riggers & Mach Erect Local 136 Supplemental Retirement Plan(1),(2)
 
 
 
Multi-employer pension plans
 
 
 
EIN
361416355 
 
 
Plan No:
001 1 2
 
 
Pension Protection Act Zone Status
Red 1 2
Red 1 2
 
FIP/RP Status Pending/ Implemented
Implemented 
 
 
Viad Contribution
430 1 2
930 1 2
386 1 2
Surcharge Paid
No 1 2
 
 
Collective bargaining agreements expiration date
Jun. 30, 2014 1 2
 
 
Nevada Resort Association IATSE Local 720 Retirement Plan
 
 
 
Multi-employer pension plans
 
 
 
EIN
510144767 
 
 
Plan No:
001 
 
 
Pension Protection Act Zone Status
Red 
Red 
 
FIP/RP Status Pending/ Implemented
Implemented 
 
 
Viad Contribution
367 
516 
329 
Surcharge Paid
No 
 
 
Collective bargaining agreements expiration date
Dec. 31, 2014 
 
 
Sign Pictorial & Display Industry Pension Plan
 
 
 
Multi-employer pension plans
 
 
 
EIN
946278490 
 
 
Plan No:
001 
 
 
Pension Protection Act Zone Status
Green 
Green 
 
FIP/RP Status Pending/ Implemented
No 
 
 
Viad Contribution
367 
196 
191 
Surcharge Paid
No 
 
 
Collective bargaining agreements expiration date
Mar. 31, 2015 
 
 
Carpenters Retirement Plan of Western Washington
 
 
 
Multi-employer pension plans
 
 
 
EIN
916029051 
 
 
Plan No:
001 
 
 
Pension Protection Act Zone Status
Green 
Green 
 
FIP/RP Status Pending/ Implemented
No 
 
 
Viad Contribution
357 
357 
286 
Surcharge Paid
No 
 
 
Collective bargaining agreements expiration date
May 31, 2013 
 
 
New England Teamsters & Trucking Industry Pension(3)
 
 
 
Multi-employer pension plans
 
 
 
EIN
046372430 
 
 
Plan No:
001 3
 
 
Pension Protection Act Zone Status
Yellow 3
Red 3
 
FIP/RP Status Pending/ Implemented
Implemented 
 
 
Viad Contribution
347 3
334 3
339 3
Surcharge Paid
No 3
 
 
Collective bargaining agreements expiration date
Mar. 31, 2017 3
 
 
Steelworkers Pension Trust
 
 
 
Multi-employer pension plans
 
 
 
EIN
236648508 
 
 
Plan No:
499 
 
 
Pension Protection Act Zone Status
Green 
Green 
 
FIP/RP Status Pending/ Implemented
No 
 
 
Viad Contribution
266 
326 
422 
Surcharge Paid
No 
 
 
Collective bargaining agreements expiration date, first
Mar. 31, 2013 
 
 
Collective bargaining agreements expiration date, last
Feb. 28, 2015 
 
 
All other funds(4)
 
 
 
Multi-employer pension plans
 
 
 
Viad Contribution
2,592 4
2,468 4
2,946 4
Pension Plans
 
 
 
Multi-employer pension plans
 
 
 
Viad Contribution
18,344 
18,668 
17,709 
Total contributions to other plans
 
 
 
Multi-employer pension plans
 
 
 
Viad Contribution
$ 1,969 
$ 2,001 
$ 1,892 
Pension and Postretirement Benefits (Details Textual) (USD $)
12 Months Ended 12 Months Ended 12 Months Ended
Dec. 31, 2013
PensionFunds
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2013
Funded Plans
Dec. 31, 2012
Funded Plans
Dec. 31, 2013
Unfunded Pension Plans
Dec. 31, 2012
Unfunded Pension Plans
Dec. 31, 2013
Foreign Pension Plans
Dec. 31, 2012
Foreign Pension Plans
Dec. 31, 2011
Foreign Pension Plans
Dec. 31, 2013
Foreign Pension Plans
Funded Plans
Dec. 31, 2012
Foreign Pension Plans
Funded Plans
Dec. 31, 2013
Foreign Pension Plans
Unfunded Pension Plans
Dec. 31, 2012
Foreign Pension Plans
Unfunded Pension Plans
Dec. 31, 2013
Postretirement Benefit Plans
Dec. 31, 2019
Scenario Forecast
Defined Benefit Plan Disclosure [Line Items]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Estimated net actuarial loss for pension plans that is expected to be amortized
$ 416,000 
 
 
 
 
 
 
$ (248,000)
$ (201,000)
$ (73,000)
 
 
 
 
$ 405,000 
 
Estimated prior service credit for postretirement benefit plans
 
 
 
 
 
 
 
 
 
 
 
 
 
 
592,000 
 
Funded status
 
 
 
(2,563,000)
(4,724,000)
(10,536,000)
(11,570,000)
 
 
 
100,000 
(2,390,000)
(2,911,000)
(3,032,000)
 
 
Liabilities of funded plans
 
 
 
 
 
 
 
 
 
 
 
2,400,000 
 
 
 
 
Liabilities of unfunded plans
 
 
 
 
 
 
 
 
 
 
 
 
2,900,000 
3,000,000 
 
 
Net actuarial losses for the foreign funded plans (before tax)
 
 
 
 
 
 
 
3,800,000 
5,300,000 
 
 
 
 
 
 
 
Net actuarial losses for the foreign funded plans (after tax)
 
 
 
 
 
 
 
2,800,000 
3,900,000 
 
 
 
 
 
 
 
Net actuarial losses for the foreign unfunded plans (before tax)
 
 
 
 
 
 
 
367,000 
366,000 
 
 
 
 
 
 
 
Net actuarial losses for the foreign unfunded plans (after tax)
 
 
 
 
 
 
 
275,000 
271,000 
 
 
 
 
 
 
 
Amount expected to contribute in funded pension plans
 
 
 
1,400,000 
 
 
 
 
 
 
 
 
 
 
 
 
Amount expected to contribute in unfunded pension plans
 
 
 
 
 
942,000 
 
 
 
 
 
 
 
 
 
 
Amount expected to contribute in postretirement benefit plans
 
 
 
 
 
 
 
 
 
 
 
 
 
 
950,000 
 
Assumed health care cost trend rate
8.00% 
8.50% 
 
 
 
 
 
 
 
 
 
 
 
 
 
5.00% 
Decrease in assumed health care cost trend rate
0.50% 
0.50% 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Effect of one percentage point increase on accumulated post retirement benefit obligation
1,500,000 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Effect of one percentage point increase in assumed health care cost trend rate on total service and interest cost components
113,000 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Effect of one percentage point decrease in assumed health care cost trend rate on accumulated post retirement benefit obligation
1,300,000 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Effect of one percentage point decrease in assumed health care cost trend rate on total service and interest cost components
90,000 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Maximum percentage of funding status of plans in red zone
65.00% 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Maximum percentage of funding status of plans in yellow zone
80.00% 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Maximum percentage of funding status of plans in green zone
80.00% 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Percentage of excess employer contributions
5.00% 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Aggregate number of funds
37 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cost of other employee benefit plans
$ 1,300,000 
$ 1,700,000 
$ 1,300,000 
 
 
 
 
 
 
 
 
 
 
 
 
 
Restructuring Charges - Reconciliation of Beginning and Ending Liability Balances by Major Restructuring Activity (Details) (USD $)
In Thousands, unless otherwise specified
3 Months Ended 12 Months Ended
Dec. 31, 2013
Sep. 30, 2013
Jun. 30, 2013
Mar. 31, 2013
Dec. 31, 2012
Sep. 30, 2012
Jun. 30, 2012
Mar. 31, 2012
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Reconciliation of beginning and ending liability balances by major restructuring activity
 
 
 
 
 
 
 
 
 
 
 
Beginning Balance
 
 
 
$ 7,224 
 
 
 
$ 6,950 
$ 7,224 
$ 6,950 
$ 7,996 
Restructuring charges
1,684 
714 
773 
720 
1,431 
608 
678 
2,225 
3,891 
4,942 
3,782 
Restructuring liabilities
 
 
 
 
 
 
 
 
(4,841)
(4,694)
(3,888)
Adjustment to liability
 
 
 
 
 
 
 
 
(478)
24 
(954)
Foreign currency translation adjustment
 
 
 
 
 
 
 
 
 
2 
14 
Closing Balance
5,796 
 
 
 
7,224 
 
 
 
5,796 
7,224 
6,950 
Marketing & Events Group
 
 
 
 
 
 
 
 
 
 
 
Reconciliation of beginning and ending liability balances by major restructuring activity
 
 
 
 
 
 
 
 
 
 
 
Restructuring charges
 
 
 
 
 
 
 
 
(409)
3,479 
3,756 
Marketing & Events Group |
Severance & Employee Benefits
 
 
 
 
 
 
 
 
 
 
 
Reconciliation of beginning and ending liability balances by major restructuring activity
 
 
 
 
 
 
 
 
 
 
 
Beginning Balance
 
 
 
720 
 
 
 
831 
720 
831 
1,106 
Restructuring charges
 
 
 
 
 
 
 
 
2,931 
2,506 
1,182 
Restructuring liabilities
 
 
 
 
 
 
 
 
(2,411)
(2,670)
(1,175)
Adjustment to liability
 
 
 
 
 
 
 
 
0 
51 
(294)
Foreign currency translation adjustment
 
 
 
 
 
 
 
 
 
2 
12 
Closing Balance
1,240 
 
 
 
720 
 
 
 
1,240 
720 
831 
Marketing & Events Group |
Facilities
 
 
 
 
 
 
 
 
 
 
 
Reconciliation of beginning and ending liability balances by major restructuring activity
 
 
 
 
 
 
 
 
 
 
 
Beginning Balance
 
 
 
5,571 
 
 
 
4,819 
5,571 
4,819 
5,051 
Restructuring charges
 
 
 
 
 
 
 
 
(315)
2,346 
2,519 
Restructuring liabilities
 
 
 
 
 
 
 
 
(1,691)
(1,567)
(2,356)
Adjustment to liability
 
 
 
 
 
 
 
 
0 
(27)
(397)
Foreign currency translation adjustment
 
 
 
 
 
 
 
 
 
0 
2 
Closing Balance
3,565 
 
 
 
5,571 
 
 
 
3,565 
5,571 
4,819 
Other Restructuring |
Severance & Employee Benefits
 
 
 
 
 
 
 
 
 
 
 
Reconciliation of beginning and ending liability balances by major restructuring activity
 
 
 
 
 
 
 
 
 
 
 
Beginning Balance
 
 
 
0 
 
 
 
24 
0 
24 
197 
Restructuring charges
 
 
 
 
 
 
 
 
1,967 
90 
26 
Restructuring liabilities
 
 
 
 
 
 
 
 
(498)
(114)
(199)
Adjustment to liability
 
 
 
 
 
 
 
 
(478)
0 
0 
Foreign currency translation adjustment
 
 
 
 
 
 
 
 
 
0 
0 
Closing Balance
991 
 
 
 
0 
 
 
 
991 
0 
24 
Other Restructuring |
Facilities
 
 
 
 
 
 
 
 
 
 
 
Reconciliation of beginning and ending liability balances by major restructuring activity
 
 
 
 
 
 
 
 
 
 
 
Beginning Balance
 
 
 
933 
 
 
 
1,276 
933 
1,276 
1,642 
Restructuring charges
 
 
 
 
 
 
 
 
(692)
0 
55 
Restructuring liabilities
 
 
 
 
 
 
 
 
(241)
(343)
(158)
Adjustment to liability
 
 
 
 
 
 
 
 
0 
0 
(263)
Foreign currency translation adjustment
 
 
 
 
 
 
 
 
 
0 
0 
Closing Balance
$ 0 
 
 
 
$ 933 
 
 
 
$ 0 
$ 933 
$ 1,276 
Restructuring Charges - Additional Information (Details) (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Restructuring Charges (Textual) [Abstract]
 
 
 
 
Restructuring Reserve
$ 5,796 
$ 7,224 
$ 6,950 
$ 7,996 
Marketing & Events Group |
Severance & Employee Benefits
 
 
 
 
Restructuring Charges (Textual) [Abstract]
 
 
 
 
Restructuring Reserve
1,240 
720 
831 
1,106 
Marketing & Events Group |
Facilities
 
 
 
 
Restructuring Charges (Textual) [Abstract]
 
 
 
 
Restructuring Reserve
3,565 
5,571 
4,819 
5,051 
Other Restructuring |
Severance & Employee Benefits
 
 
 
 
Restructuring Charges (Textual) [Abstract]
 
 
 
 
Restructuring Reserve
991 
0 
24 
197 
Other Restructuring |
Facilities
 
 
 
 
Restructuring Charges (Textual) [Abstract]
 
 
 
 
Restructuring Reserve
$ 0 
$ 933 
$ 1,276 
$ 1,642 
Leases and Other - Schedule of Future Minimum Rental Payments and Related Sublease Rentals Receivable (Details) (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2013
Future minimum rental payments and related sublease rentals receivable
 
Rental Payments, 2014
$ 19,808 
Rental Payments, 2015
14,371 
Rental Payments, 2016
9,439 
Rental Payments, 2017
7,870 
Rental Payments, 2018
6,097 
Rental Payments, Thereafter
8,137 
Rental Payments, Total
65,722 
Receivable Under Subleases, 2014
1,665 
Receivable Under Subleases, 2015
1,212 
Receivable Under Subleases, 2016
963 
Receivable Under Subleases, 2017
963 
Receivable Under Subleases, 2018
873 
Receivable Under Subleases, Thereafter
1,092 
Receivable Under Subleases, Total
$ 6,768 
Leases and Other - Net Rent Expense Under Operating Leases (Details) (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Net rent expense under operating leases
 
 
 
Minimum rentals
$ 34,201 
$ 36,309 
$ 30,860 
Sublease rentals
(6,815)
(6,501)
(6,497)
Total rentals, net
$ 27,386 
$ 29,808 
$ 24,363 
Leases and Other - Additional Information (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Leases and Other (Textual) [Abstract]
 
Lease expiration period
40 years 
Aggregate purchase obligation
$ 31.6 
Litigation, Claims, Contingencies and Other (Details) (USD $)
12 Months Ended 1 Months Ended
Dec. 31, 2013
Agreement
Dec. 31, 2012
Dec. 31, 2011
Jan. 31, 2014
Subsequent Event
Loss Contingencies [Line Items]
 
 
 
 
Environmental remediation liability
$ 5,000,000 
$ 5,300,000 
 
 
Maximum potential amount of future payments
13,700,000 
 
 
 
Guarantees relate to leased facilities expiry date
October 2017 
 
 
 
Recourse provision to recover guarantees
0 
 
 
 
Bargaining agreements
100 
 
 
 
Percent of Viad's regular full-time employees are covered by collective-bargaining agreements
30.00% 
 
 
 
Contribution to multi-employer pension plans
20,313,000 
20,669,000 
19,601,000 
 
Revenue through concession contract
47.00% 
 
 
 
Possessory interest
25,000,000 
 
 
 
Estimated amount for personal property
5,000,000 
 
 
 
Proceeds from Possessory Interest
 
 
 
$ 25,000,000 
Segment Information - Reconciliation of Income Statement Items from Reportable Segments (Details) (USD $)
In Thousands, unless otherwise specified
3 Months Ended 12 Months Ended
Dec. 31, 2013
Sep. 30, 2013
Jun. 30, 2013
Mar. 31, 2013
Dec. 31, 2012
Sep. 30, 2012
Jun. 30, 2012
Mar. 31, 2012
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Revenues:
 
 
 
 
 
 
 
 
 
 
 
Total revenues
$ 201,842 
$ 236,473 
$ 249,314 
$ 285,163 
$ 202,552 
$ 307,457 
$ 246,450 
$ 268,772 
$ 972,792 
$ 1,025,231 
$ 942,364 
Segment operating income (loss):
 
 
 
 
 
 
 
 
 
 
 
Segment operating income (loss), Total
(6,873)
16,463 
8,941 
11,301 
(13,190)
31,538 
7,633 
1,531 
39,136 
32,454 
17,694 
Interest income
 
 
 
 
 
 
 
 
550 
593 
779 
Interest expense
 
 
 
 
 
 
 
 
(1,234)
(1,303)
(1,511)
Restructuring charges
(1,684)
(714)
(773)
(720)
(1,431)
(608)
(678)
(2,225)
(3,891)
(4,942)
(3,782)
Impairment losses
0 
(5,413)
0 
0 
0 
0 
0 
0 
(5,413)
0 
0 
Goodwill, Impairment Loss
 
 
 
 
 
 
 
 
4,461 
 
 
Income from continuing operations before income taxes
 
 
 
 
 
 
 
 
29,148 
26,802 
13,180 
Marketing & Events Group
 
 
 
 
 
 
 
 
 
 
 
Revenues:
 
 
 
 
 
 
 
 
 
 
 
Total revenues
 
 
 
 
 
 
 
 
844,904 
902,040 
840,550 
Segment operating income (loss):
 
 
 
 
 
 
 
 
 
 
 
Segment operating income (loss), Total
 
 
 
 
 
 
 
 
20,092 
17,900 
5,180 
Restructuring charges
 
 
 
 
 
 
 
 
409 
(3,479)
(3,756)
Impairment losses
 
 
 
 
 
 
 
 
(658)
 
 
Marketing & Events International
 
 
 
 
 
 
 
 
 
 
 
Segment operating income (loss):
 
 
 
 
 
 
 
 
 
 
 
Restructuring charges
 
 
 
 
 
 
 
 
(2,362)
(1,373)
0 
Impairment losses
 
 
 
 
 
 
 
 
(294)
 
 
Goodwill, Impairment Loss
 
 
 
 
 
 
 
 
0 
 
 
Travel & Recreation Group
 
 
 
 
 
 
 
 
 
 
 
Revenues:
 
 
 
 
 
 
 
 
 
 
 
Total revenues
 
 
 
 
 
 
 
 
127,888 
123,191 
101,814 
Segment operating income (loss):
 
 
 
 
 
 
 
 
 
 
 
Segment operating income (loss), Total
 
 
 
 
 
 
 
 
25,799 
23,962 
20,196 
Restructuring charges
 
 
 
 
 
 
 
 
(907)
(79)
0 
Impairment losses
 
 
 
 
 
 
 
 
 
0 
0 
Goodwill, Impairment Loss
 
 
 
 
 
 
 
 
4,461 
 
 
Other Segments
 
 
 
 
 
 
 
 
 
 
 
Segment operating income (loss):
 
 
 
 
 
 
 
 
 
 
 
Segment operating income (loss), Total
 
 
 
 
 
 
 
 
45,891 
41,862 
25,376 
Corporate
 
 
 
 
 
 
 
 
 
 
 
Segment operating income (loss):
 
 
 
 
 
 
 
 
 
 
 
Segment operating income (loss), Total
 
 
 
 
 
 
 
 
6,755 
9,408 
7,682 
Restructuring charges
 
 
 
 
 
 
 
 
(1,031)
(11)
(26)
Intersegment Eliminations |
Marketing & Events Group
 
 
 
 
 
 
 
 
 
 
 
Revenues:
 
 
 
 
 
 
 
 
 
 
 
Total revenues
 
 
 
 
 
 
 
 
(13,264)
(14,869)
(9,449)
U.S. |
Marketing & Events Group
 
 
 
 
 
 
 
 
 
 
 
Revenues:
 
 
 
 
 
 
 
 
 
 
 
Total revenues
 
 
 
 
 
 
 
 
628,856 
676,772 
631,360 
Segment operating income (loss):
 
 
 
 
 
 
 
 
 
 
 
Segment operating income (loss), Total
 
 
 
 
 
 
 
 
11,024 
5,579 
(6,269)
International |
Marketing & Events Group
 
 
 
 
 
 
 
 
 
 
 
Revenues:
 
 
 
 
 
 
 
 
 
 
 
Total revenues
 
 
 
 
 
 
 
 
229,312 
240,137 
218,639 
Segment operating income (loss):
 
 
 
 
 
 
 
 
 
 
 
Segment operating income (loss), Total
 
 
 
 
 
 
 
 
$ 9,068 
$ 12,321 
$ 11,449 
Segment Information - Reconciliation of Assets from Reportable Segments (Details) (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Reconciliation of assets from segment
 
 
 
Total Assets
$ 561,932 
$ 650,577 
$ 617,828 
Total Depreciation and Amortization
28,615 
30,731 
29,126 
Capital expenditures
36,119 
27,675 
21,538 
Marketing & Events Group |
U.S.
 
 
 
Reconciliation of assets from segment
 
 
 
Total Assets
194,422 
203,145 
213,843 
Total Depreciation and Amortization
14,906 
17,643 
17,247 
Capital expenditures
8,278 
7,525 
11,692 
Marketing & Events Group |
International
 
 
 
Reconciliation of assets from segment
 
 
 
Total Assets
81,058 
100,387 
96,996 
Total Depreciation and Amortization
5,566 
5,162 
5,027 
Capital expenditures
4,332 
4,913 
5,635 
Travel & Recreation Group
 
 
 
Reconciliation of assets from segment
 
 
 
Total Assets
209,611 
223,199 
194,278 
Total Depreciation and Amortization
7,967 
7,781 
6,674 
Capital expenditures
23,108 
15,201 
3,271 
Corporate and other
 
 
 
Reconciliation of assets from segment
 
 
 
Total Assets
76,841 
123,846 
112,711 
Total Depreciation and Amortization
176 
145 
178 
Capital expenditures
$ 401 
$ 36 
$ 940 
Segment Information - Revenues for Each Group of Products and Services (Details) (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Revenues
 
 
 
Exhibition And Event Services
$ 685,350 
$ 726,429 
$ 670,054 
Exhibits and Environments
159,554 
175,611 
170,496 
Travel and Recreation Services
127,888 
123,191 
101,814 
Total revenues
$ 972,792 
$ 1,025,231 
$ 942,364 
Segment Information - Financial Information by Major Geographic Area (Details) (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Revenues:
 
 
 
Total revenues
$ 972,792 
$ 1,025,231 
$ 942,364 
Long-lived assets:
 
 
 
Total long-lived assets
225,356 
229,714 
204,864 
United States
 
 
 
Revenues:
 
 
 
Total revenues
656,927 
700,414 
660,998 
Long-lived assets:
 
 
 
Total long-lived assets
132,315 
141,727 
145,217 
Canada
 
 
 
Revenues:
 
 
 
Total revenues
148,934 
151,070 
140,374 
Long-lived assets:
 
 
 
Total long-lived assets
82,986 
76,067 
47,624 
United Kingdom
 
 
 
Revenues:
 
 
 
Total revenues
151,217 
153,027 
124,208 
Long-lived assets:
 
 
 
Total long-lived assets
9,631 
9,757 
8,165 
Other International
 
 
 
Revenues:
 
 
 
Total revenues
15,714 
20,720 
16,784 
Long-lived assets:
 
 
 
Total long-lived assets
$ 424 
$ 2,163 
$ 3,858 
Segment Information (Details Textual)
12 Months Ended
Dec. 31, 2013
Segment Information (Textual) [Abstract]
 
Percent of segment's revenues
7.00% 
Percent of Viad's revenues
4.50% 
Common Stock Repurchases (Details) (USD $)
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Common Stock Repurchases (Textual) [Abstract]
 
 
 
Repurchased shares
0 
23,183 
250,760 
Common stock purchased for treasury
 
$ (526,000)
$ (4,600,000)
Shares remain available for repurchase
1,030,438 
 
 
Repurchased shares tax withholding
50,156 
56,885 
28,627 
Share repurchased relating to tax withholding requirements
$ 1,300,000 
$ 1,100,000 
$ 679,000 
Discontinued Operations (Details) (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Discontinued Operations (Textual) [Abstract]
 
 
 
Income from discontinued operations
$ 1,128 
$ 624 
$ 451 
Condensed Consolidated Quarterly Results (Unaudited) - Schedule of Quarterly Financial Information (Details) (USD $)
3 Months Ended 12 Months Ended
Dec. 31, 2013
Sep. 30, 2013
Jun. 30, 2013
Mar. 31, 2013
Dec. 31, 2012
Sep. 30, 2012
Jun. 30, 2012
Mar. 31, 2012
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Revenues:
 
 
 
 
 
 
 
 
 
 
 
Revenues:
$ 201,842,000 
$ 236,473,000 
$ 249,314,000 
$ 285,163,000 
$ 202,552,000 
$ 307,457,000 
$ 246,450,000 
$ 268,772,000 
$ 972,792,000 
$ 1,025,231,000 
$ 942,364,000 
Operating income (loss):
 
 
 
 
 
 
 
 
 
 
 
Ongoing operations
(2,441,000)1
24,624,000 1
10,881,000 1
12,827,000 1
(8,351,000)1
34,182,000 1
10,498,000 1
5,533,000 1
 
 
 
Corporate activities
(2,748,000)
(2,034,000)
(1,167,000)
(806,000)
(3,408,000)
(2,036,000)
(2,187,000)
(1,777,000)
 
 
 
Restructuring charges
(1,684,000)
(714,000)
(773,000)
(720,000)
(1,431,000)
(608,000)
(678,000)
(2,225,000)
(3,891,000)
(4,942,000)
(3,782,000)
Goodwill impairment charge
0 
(5,413,000)
0 
0 
0 
0 
0 
0 
(5,413,000)
0 
0 
Operating income (loss)
(6,873,000)
16,463,000 
8,941,000 
11,301,000 
(13,190,000)
31,538,000 
7,633,000 
1,531,000 
39,136,000 
32,454,000 
17,694,000 
Amounts reclassified from AOCI, net of tax
(4,740,000)2
10,849,000 2
6,253,000 2
8,065,000 2
(21,181,000)2
19,976,000 2
5,451,000 2
1,027,000 2
20,558,000 
5,959,000 
9,292,000 
Net income
(4,618,000)2
11,855,000 2
6,253,000 2
8,065,000 2
(21,196,000)2
19,976,000 2
6,090,000 2
1,027,000 2
21,555,000 
5,897,000 
9,210,000 
Diluted income per common share:
 
 
 
 
 
 
 
 
 
 
 
Income (loss) from continuing operations attributable to Viad
$ (0.24)2 3
$ 0.53 2 3
$ 0.31 2 3
$ 0.40 2 3
$ (1.07)2 3
$ 0.99 2 3
$ 0.27 2 3
$ 0.05 2 3
$ 1.01 
$ 0.26 
$ 0.43 
Net income (loss) attributable to Viad
$ (0.23)2 3
$ 0.58 2 3
$ 0.31 2 3
$ 0.40 2 3
$ (1.07)2 3
$ 0.99 2 3
$ 0.30 2 3
$ 0.05 2 3
$ 1.06 
$ 0.29 
$ 0.45 
Basic income per common share:
 
 
 
 
 
 
 
 
 
 
 
Income (loss) from continuing operations attributable to Viad
$ (0.24)2 3
$ 0.53 2 3
$ 0.31 2 3
$ 0.40 2 3
$ (1.07)2 3
$ 0.99 2 3
$ 0.27 2 3
$ 0.05 2 3
$ 1.01 
$ 0.26 
$ 0.43 
Net income (loss) attributable to Viad
$ (0.23)2 3
$ 0.58 2 3
$ 0.31 2 3
$ 0.40 2 3
$ (1.07)2 3
$ 0.99 2 3
$ 0.30 2 3
$ 0.05 2 3
$ 1.06 
$ 0.29 
$ 0.45 
Foreign Tax Authority
 
 
 
 
 
 
 
 
 
 
 
Condensed Financial Statements, Captions [Line Items]
 
 
 
 
 
 
 
 
 
 
 
Tax Credit Carryforward, Valuation Allowance
$ 10,900,000 
 
 
 
$ 13,400,000 
 
 
 
$ 10,900,000 
$ 13,400,000 
 
Subsequent Event (Details) (USD $)
0 Months Ended 12 Months Ended 0 Months Ended 1 Months Ended
Oct. 25, 2013
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Jan. 24, 2014
Subsequent Event
Jan. 31, 2014
Subsequent Event
Subsequent Event [Line Items]
 
 
 
 
 
 
Proceeds from Possessory Interest
 
 
 
 
 
$ 25,000,000 
Proceeds from Personal Property
 
 
 
 
 
5,000,000 
Dividends Payable, Date Declared
 
 
 
 
Jan. 24, 2014 
 
Common Stock, Dividends, Per Share, Declared
$ 2.50 
$ 2.90 
$ 0.28 
$ 0.16 
$ 1.50 
 
Dividends Payable
 
$ 2,192,000 
$ 2,053,000 
 
$ 30,500,000 
 
Dividends Payable, Date of Record
 
 
 
 
Feb. 07, 2014 
 
Dividends Payable, Date to be Paid
 
 
 
 
Feb. 14, 2014 
 
Schedule II - Valuation And Qualifying Accounts (Details) (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Allowance for doubtful accounts
 
 
 
Movement in Valuation Allowances and Reserves [Roll Forward]
 
 
 
Balance at beginning of Year
$ 1,150 
$ 1,072 
$ 1,172 
Additions Charged to Expense
313 
708 
1,696 
Additions Charged to Other Accounts
0 
0 
0 
Deductions Write Offs
(586)
(630)
(1,796)
Deductions Credited to Other Accounts
0 
0 
0 
Balance at end of Year
877 
1,150 
1,072 
Deferred tax valuation allowance
 
 
 
Movement in Valuation Allowances and Reserves [Roll Forward]
 
 
 
Balance at beginning of Year
14,576 
356 
411 
Additions Charged to Expense
1,917 
14,220 
0 
Additions Charged to Other Accounts
0 
0 
0 
Deductions Write Offs
(4,100)
0 
(55)
Deductions Credited to Other Accounts
0 
0 
0 
Balance at end of Year
$ 12,393 
$ 14,576 
$ 356