Business interruption gain

$ 507,340

$ 415,435

$ 1,302,736

Costs and expenses:

0

(141)

Corporate activities

11,689

8,687

10,865

Interest income

(116)

(377)

(369)

Interest expense

28,440

18,264

14,199

Multi-employer pension plan withdrawal

57

462

15,693

Other expense, net

2,013

1,132

1,586

6,066

13,440

8,380

Legal settlement

0

8,500

Income (loss) from continuing operations before income taxes

0

203,076

5,346

Total costs and expenses

602,421

776,294

1,276,626

(95,081)

(360,859)

26,110

Income tax expense (benefit)

(1,788)

14,246

2,506

Income (loss) from continuing operations

(93,293)

(375,105)

23,604

Income (loss) from discontinued operations

558

(1,847)

(81)

Net income (loss)

(92,735)

(376,952)

23,523

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

(1,686)

1,376

(2,309)

Net loss attributable to redeemable noncontrolling interest

1,766

1,482

821

Net income (loss) attributable to Viad

$ (92,655)

$ (374,094)

$ 22,035

Diluted income (loss) per common share:

Continuing operations attributable to Viad common stockholders

$ (5.04)

$ (18.55)

$ 1.02

Discontinued operations attributable to Viad common stockholders

0.03

(0.09)

0

Net income (loss) attributable to Viad common stockholders

^[1]

$ (5.01)

$ (18.64)

$ 1.02

Weighted-average outstanding and potentially dilutive common shares

20,411

20,279

20,284

Basic income (loss) per common share:

Continuing operations attributable to Viad common stockholders

$ (5.04)

$ (18.55)

$ 1.02

Discontinued operations attributable to Viad common stockholders

0.03

(0.09)

Net income (loss) attributable to Viad common stockholders

$ (5.01)

$ (18.64)

$ 1.02

Weighted-average outstanding common shares

20,411

20,279

20,146

Dividends declared per common share

$ 0.10

$ 0.40

Amounts attributable to Viad common stockholders

Income (loss) from continuing operations

$ (93,213)

$ (372,247)

$ 22,116

Income (loss) from discontinued operations

558

(1,847)

(81)

Net income (loss) attributable to Viad

(92,655)

(374,094)

22,035

Services

Revenue:

401,142

351,528

1,101,534

Costs and expenses:

Costs and expenses

440,383

457,827

1,031,187

Products

Revenue:

Organization, Consolidation and Presentation of Financial Statements [Abstract]

106,198

63,907

201,202

Costs and expenses:

Costs and expenses

$ 113,889

$ 73,783

$ 181,380

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

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ (92,735)	$ (376,952)	$ 23,523
Other comprehensive income (loss):
Unrealized foreign currency translation adjustments	524	7,113	12,533
Change in net actuarial loss, net of tax effects of $147, $(55), and $(44)	2,712	(1,955)	(116)
Change in prior service cost, net of tax effects of $(18), $(46), and $(48)	(24)	(100)	(141)
Comprehensive income (loss)	(89,523)	(371,894)	35,799
Non-redeemable noncontrolling interest:
Comprehensive (income) loss attributable to non-redeemable noncontrolling interest	(1,686)	1,376	(2,309)
Unrealized foreign currency translation adjustments	127	1,315	1,080
Redeemable noncontrolling interest:
Comprehensive loss attributable to redeemable noncontrolling interest	1,766	1,482	821
Comprehensive income (loss) attributable to Viad	$ (89,316)	$ (367,721)	$ 35,391

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Statement of Comprehensive Income [Abstract]
Amortization of net actuarial loss, tax effects	$ 210	$ (55)	$ (44)
Amortization of prior service cost, tax effects	$ 0	$ (46)	$ (48)

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY AND MEZZANINE EQUITY - USD ($) $ in Thousands	Total	Common Stock	Additional Capital	Retained Earnings (Deficit)	Unearned Employee Benefits and Other	Accumulated Other Comprehensive Income (Loss)	Common Stock in Treasury	Total Viad Equity	Non-Redeemable Non-Controlling Interest	Mezzanine Equity Redeemable Non Controlling Interest	Convertible Series A Preferred Stock
Beginning Balance at Dec. 31, 2018	$ 450,555	$ 37,402	$ 575,339	$ 109,032	$ 199	$ (47,975)	$ (237,790)	$ 436,207	$ 14,348	$ 5,909
Increase Decrease In Stockholders' Equity Roll Forward
Net income (loss)	24,344			22,035				22,035	2,309	(821)
Dividends on common stock	(8,094)			(8,094)				(8,094)
Capital contributions (distributions) to (from) noncontrolling interest	(407)								(407)
Payment of payroll taxes on stock-based compensation through shares withheld	(3,046)						(3,046)	(3,046)
Employee benefit plans	5,530		(3,659)				9,189	5,530
Share-based compensation - equity awards	2,755		2,755					2,755
Unrealized foreign currency translation adjustment	13,613					12,533		12,533	1,080	(234)
Amortization of net actuarial loss, net of tax	(116)					(116)		(116)
Amortization of prior service cost, net of tax	(141)					(141)		(141)
Acquisitions	62,401								62,401
Other, net	(165)		38	(2)	$ (199)		(2)	(165)		1,318
Ending Balance at Dec. 31, 2019	547,229	37,402	574,473	122,971		(35,699)	(231,649)	467,498	79,731	6,172
Increase Decrease In Stockholders' Equity Roll Forward
Net income (loss)	(375,470)			(374,094)				(374,094)	(1,376)	(1,482)
Dividends on common stock	(2,038)			(2,038)				(2,038)
Issuance of Series A convertible preferred stock											$ 125,763
Dividends on convertible preferred stock	(3,006)		(3,006)					(3,006)			3,006
Capital contributions (distributions) to (from) noncontrolling interest	(1,526)								(1,526)
Payment of payroll taxes on stock-based compensation through shares withheld	(1,688)						(1,688)	(1,688)
Common stock purchased for treasury	(2,785)						(2,785)	(2,785)
Employee benefit plans	2,479		(7,901)				10,380	2,479
Share-based compensation - equity awards	4,444		4,444					4,444
Unrealized foreign currency translation adjustment	8,428					7,113		7,113	1,315	(390)
Amortization of net actuarial loss, net of tax	(1,955)					(1,955)		(1,955)
Amortization of prior service cost, net of tax	(100)					(100)		(100)
Other, net	87		90	(3)				87		925
Ending Balance at Dec. 31, 2020	174,099	37,402	568,100	(253,164)		(30,641)	(225,742)	95,955	78,144	5,225	128,769
Increase Decrease In Stockholders' Equity Roll Forward
Net income (loss)	(90,969)			(92,655)				(92,655)	1,686	(1,766)
Dividends on convertible preferred stock	(7,721)		(3,821)	(3,900)				(7,721)			3,821
Capital contributions (distributions) to (from) noncontrolling interest	(1,160)								(1,160)	341
Payment of payroll taxes on stock-based compensation through shares withheld	(652)						(652)	(652)
Employee benefit plans	1,226		(4,456)				5,682	1,226
Share-based compensation - equity awards	7,562		7,562					7,562
Unrealized foreign currency translation adjustment	651					524		524	127	(153)
Amortization of net actuarial loss, net of tax	2,712					2,712		2,712
Amortization of prior service cost, net of tax	(24)					(24)		(24)
Acquisitions	6,759								6,759
Other, net	(645)		(644)	(1)				(645)		1,797	1
Ending Balance at Dec. 31, 2021	$ 91,838	$ 37,402	$ 566,741	$ (349,720)		$ (27,429)	$ (220,712)	$ 6,282	$ 85,556	$ 5,444	$ 132,591

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY AND MEZZANINE EQUITY (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Statement of Stockholders' Equity [Abstract]
Dividends on common stock per share	$ 0.10	$ 0.40

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Cash flows from operating activities
Net income (loss)	$ (92,735)	$ (376,952)	$ 23,523
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization	53,750	56,565	58,964
Deferred income taxes	6,012	15,097	(10,398)
(Income) loss from discontinued operations	(558)	1,847	81
Restructuring charges	6,066	13,440	8,380
Legal settlement	0	0	8,500
Impairment charges	0	203,076	5,346
(Gains) losses on dispositions of property and other assets	(9,374)	(14,935)	(1,475)
Share-based compensation expense	7,727	2,653	7,190
Multi-employer pension plan withdrawal	57	462	15,693
Other non-cash items, net	5,318	8,056	3,791
Change in operating assets and liabilities (excluding the impact of acquisitions):
Receivables	(75,450)	106,082	(16,959)
Inventories	129	8,644	(328)
Current contract costs	(3,284)	16,279	(6,333)
Accounts payable	46,694	(88,251)	9,726
Restructuring liabilities	(5,923)	(7,427)	(6,047)
Accrued compensation	4,221	(26,375)	6,853
Contract liabilities	20,881	(31,585)	16,796
Income taxes payable	1,003	770	195
Other assets and liabilities, net	(2,386)	32,306	(15,359)
Net cash (used in) provided by operating activities	(37,852)	(80,248)	108,139
Cash flows from investing activities
Capital expenditures	(57,936)	(53,567)	(76,147)
Cash surrender value of life insurance policies	0	24,767	0
Cash paid for acquisitions, net	(8,227)	0	(90,992)
Proceeds from dispositions of property and other assets	14,360	22,027	1,583
Net cash used in investing activities	(51,803)	(6,773)	(165,556)
Cash flows from financing activities
Proceeds from borrowings	461,322	225,422	200,473
Payments on debt and finance lease obligations	(345,297)	(275,327)	(115,708)
Dividends paid on common stock	0	(4,064)	(8,094)
Dividends paid on preferred stock	(3,900)	0	0
Distributions to noncontrolling interest, net of contributions from noncontrolling interest	(843)	(1,526)	(407)
Payments of debt issuance costs	(1,767)	(1,585)	(39)
Payment of payroll taxes on stock-based compensation through shares withheld or repurchased	(1,626)	(1,688)	(3,046)
Common stock purchased for treasury	0	(2,785)	0
Proceeds from issuance of Convertible Series A Preferred Stock, net of issuance costs	0	125,763	0
Proceeds from exercise of stock options	0	2,077	293
Net cash provided by (used in) financing activities	107,889	66,287	73,472
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	4,098	701	1,050
Net change in cash, cash equivalents, and restricted cash	22,332	(20,033)	17,105
Cash, cash equivalents, and restricted cash, beginning of year	41,971	62,004	44,899
Cash, cash equivalents, and restricted cash, end of year	$ 64,303	$ 41,971	$ 62,004

Overview and Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2021

Overview and Summary of Significant Accounting Policies

Note 1. Overview and Summary of Significant Accounting Policies

Basis of Presentation and Principles of Consolidation

The accompanying consolidated financial statements were prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and include the accounts of Viad and its subsidiaries. We have eliminated all significant intercompany account balances and transactions in consolidation.

Nature of Business

We are a leading global provider of extraordinary experiences, including hospitality and leisure activities, experiential marketing, and live events. We operate through two reportable business segments: Pursuit and GES:

Pursuit

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

GES

GES is a global, full-service provider for live, hybrid, and digital events that partners with brand marketers, exhibitors, and show organizers to create high-value events and experiences. GES offers a comprehensive range of event services, from the design and production of compelling, immersive live and digital experiences that engage audiences and build brand awareness, through to logistics, including material handling, rigging, electrical, and other on-site event services. In addition, GES offers clients a full suite of audio-visual services from creative and technology to content and design, along with registration, data analytics, engagement, and online tools powered by next generation technologies that help clients easily manage the complexities of their event.

Impact of COVID-19

Starting in mid-March 2020, the COVID-19 pandemic had a significant and negative impact on our operations and financial performance, with severe disruptions in live event and tourism activity. In response, we implemented aggressive cost reduction measures to preserve cash, including furloughs, layoffs, mandatory unpaid time off or salary reductions for all employees, and the reduction of discretionary spending. We also accelerated our transformation and streamlining efforts at GES to significantly reduce costs and create a lower and more flexible cost structure focused on servicing GES’ more profitable market segments. In 2020, GES exited 21 leased facilities across its warehouse and office network and sold its San Diego area production warehouse. We also suspended future common stock dividend payments and share repurchases, and we availed ourselves of governmental assistance programs for wages and other expense relief. Additionally, in May and August 2020, we obtained waivers of the financial covenants under our then $450 million revolving credit facility (“the 2018 Credit Facility”), which we subsequently refinanced in July 2021 as discussed below, and we secured additional capital to strengthen our liquidity position by entering into an investment agreement with funds managed by private equity firm Crestview Partners who made an investment of $135 million, offset in part by $9.2 million in fees, in newly issued perpetual convertible preferred stock. Refer to Note 15 – Common and Preferred Stock for further information.

During 2021, we continued to preserve cash and closely managed our costs as pandemic-related restrictions slowly eased. GES continued to reduce costs as part of its transformation and streamlining efforts. In 2021, GES sold its Orlando area production warehouse. GES continues to evaluate its physical presence and look for additional opportunities to improve its cost structure. In connection with the COVID-19 vaccination programs, we began to see signs of recovery in the travel and hospitality and live event sectors in mid-2021 as people started to feel more comfortable traveling and gathering in larger groups. Pursuit’s operations in the United States experienced strong visitation primarily from domestic travelers, while tourism in Canada and Iceland remained constrained by border closures and travel restrictions. Canada reopened its border with the United States in early August 2021 to fully vaccinated travelers and to travelers from other countries beginning in September 2021, which accelerated short-term bookings from travelers to our Pursuit operations in Canada. The live event markets also began to re-open in 2021 with smaller scale live events starting to take place during the first half of the year. During the second half of 2021, we began to see an acceleration in the recovery of in-person trade shows as event organizers began to schedule larger-scale face-to-face live events. However, as variants of COVID-19, including the predominant Delta and Omicron variants, became more widespread, we saw some cancellations of smaller events during the fourth quarter of 2021. For larger-scale in-person events that took place, the overall attendance was lower than pre-pandemic levels.

Effective July 30, 2021, we refinanced our 2018 Credit Facility, which was scheduled to mature on October 24, 2023, with a new $500 million senior secured credit facility (the “2021 Credit Facility”). The 2021 Credit Facility provides for a $400 million term loan

with a maturity date of July 30, 2028 (“Term Loan B”) and a $100 million revolving credit facility with a maturity date of July 30, 2026. The $400 million in Term Loan B proceeds were offset in part by $14.8 million in related fees. The proceeds from the Term Loan B were used to repay the $327 million outstanding balance under the 2018 Credit Facility. The $100 million revolving credit facility and the remaining proceeds from the Term Loan B will be used to provide for financial flexibility to fund future acquisitions and growth initiatives and for general corporate purposes. Refer to Note 12 – Debt and Finance Obligations for further information.

Due to the evolving and uncertain nature of COVID-19, and depending on the success of ongoing vaccination and other mitigation efforts as well as the scope and magnitude of infections and hospitalizations, we are not able at this time to fully estimate the effect of these factors on our business; however, the adverse impact on our business, results of operations, and cash flows has been significant. We will continue to evaluate and implement additional actions necessary to mitigate the negative financial and operational impact of COVID-19 on our business.

Reclassifications

During the first quarter of 2021, we changed our segment reporting as a result of operational changes and how our chief operating decision maker (“CODM”) reviews the financial performance of GES and makes decisions regarding the allocation of resources. As a result, we changed the presentation of certain items in GES’ disaggregation of revenue and reportable segments. Refer to Note 2 – Revenue and Related Contract Costs and Contract Liabilities and Note 23 – Segment Information for additional information. We reclassified certain prior-year amounts to conform to current-period presentation. Such reclassifications had no impact on our results of operations or cash flows.

Significant Accounting Policies

Use of Estimates

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

Cash, Cash Equivalents, and Restricted Cash

Cash equivalents are highly-liquid investments with remaining maturities when purchased of three months or less. Cash and cash equivalents consist of cash and bank demand deposits and money market funds. Investments in money market funds are classified as available-for-sale and carried at fair value. Restricted cash represents collateral required for surety bonds, bank guarantees, and letters of credit.

Cash, cash equivalents, and restricted cash balances presented in the Consolidated Statements of Cash Flows consisted of the following:


	December 31,
(in thousands)	2021		2020
Cash and cash equivalents	$	61,600	$	39,545
Restricted cash included in other current assets		2,703		2,426
Cash, cash equivalents, and restricted cash shown in the statement of cash flows	$	64,303	$	41,971

Allowances for Doubtful Accounts

Allowances for doubtful accounts reflect the best estimate of probable losses inherent in the accounts receivable balance. The allowances for doubtful accounts, including a sales allowance for discounts at the time of sale, are based upon an evaluation of the aging of receivables, historical trends, and the current economic environment.

Inventories

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

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.

Leases

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

Our operating and finance leases are primarily facility, equipment, and land leases. Our facility leases comprise mainly manufacturing facilities, sales and design facilities, offices, storage and/or warehouses, and truck marshaling yards for our GES business. These facility leases generally have lease terms ranging up to 24 years. Our equipment leases comprise mainly vehicles, hardware, and office equipment, each with various lease terms. Our land leases comprise mainly leases in Canada and Iceland on which our Pursuit hotels or attractions are located and have lease terms ranging up to 46 years.

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

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

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

Goodwill

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

Self-Insurance Liabilities

We are self-insured up to certain limits for workers’ compensation and general liabilities, which includes automobile, product general liability, and client property loss claims. We have also retained and provided for certain workers’ compensation insurance liabilities in conjunction with previously sold operations. We are also self-insured for certain employee health benefits. Provisions for losses for claims incurred, including actuarially derived estimated claims incurred but not yet reported, are made based on historical experience, claims frequency, and other factors. We have purchased insurance for amounts in excess of the self-insured levels.

Environmental Remediation Liabilities

Environmental remediation liabilities represent 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. Environmental insurance is maintained that provides coverage for new and undiscovered pre-existing conditions at both our continuing and discontinued operations.

Fair Value of Financial Instruments

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

Convertible Preferred Stock

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

Noncontrolling Interests – Non-redeemable and Redeemable

Non-redeemable noncontrolling interest represents the portion of equity in a subsidiary that is not attributable, directly or indirectly, to us. We report non-redeemable noncontrolling interest within stockholders’ equity in the Consolidated Balance Sheets. The amount of consolidated net income or loss attributable to Viad and the non-redeemable noncontrolling interest is presented in the Consolidated Statements of Operations.

We consider noncontrolling interests with redemption features that are not solely within our control to be redeemable noncontrolling interests. Our redeemable noncontrolling interest relates to our 56.4% equity ownership interest in Esja Attractions ehf. (“Esja”), which owns the FlyOver Iceland attraction. The Esja shareholders agreement contains a put option that gives the minority Esja shareholders the right to sell (or “put”) their Esja shares to us based on a calculated formula within a predefined term. This redeemable noncontrolling interest is considered mezzanine equity and we report it between liabilities and stockholders’ equity in the Consolidated Balance Sheets. The amount of the net income or loss attributable to redeemable noncontrolling interests is recorded in the Consolidated Statements of Operations and the accretion of the redemption value is recorded as an adjustment to retained earnings (deficit) and is included in our income (loss) per share. Refer to Note 22 – Noncontrolling Interests – Redeemable and Non-redeemable for additional information.

Foreign Currency Translation

Our foreign operations are primarily in Canada, the United Kingdom, Iceland, the Netherlands, Germany, and to a lesser extent, in certain other countries. The functional currency of our foreign subsidiaries is their local currency. Accordingly, for purposes of consolidation, we translate the assets and liabilities of our 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 (loss) in the Consolidated Balance Sheets. We also have certain loans in currencies other than the entity’s functional currency, which results in gains or losses as exchange rates fluctuate. For purposes of consolidation, revenue, expenses, gains, and losses related to our foreign operations are translated into U.S. dollars at the average foreign exchange rates for the period.

Revenue Recognition

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

GES’ service revenue is primarily derived through its comprehensive range of marketing, event production, and other related services to event organizers and corporate brand marketers. GES’ service revenue is earned over time over the duration of the live event, which generally lasts one to three days. Revenue for goods and services provided for which we do not have control of the goods or services before that good or service is transferred to a customer is recorded on a net basis to reflect only the fees received for arranging these services. GES’ product revenue is derived from the build of exhibits and environments and graphics. GES’ product revenue is recognized at a point in time upon delivery of the product.

Pursuit’s service revenue is derived through its admissions, accommodations, transportation, and travel planning services. Pursuit’s product revenue is derived through food and beverage and retail sales. Pursuit’s revenue is recognized at the time services are performed

or upon delivery of the product. Pursuit’s service revenue is recognized over time as the customer simultaneously receives and consumes the benefits. Pursuit’s product revenue is recognized at a point in time.

Share-Based Compensation

Share-based compensation costs related to all share-based payment awards are recognized and measured using the fair value method of accounting. These awards generally include restricted stock awards, restricted stock units, performance-based restricted stock units (“PRSUs”), and stock options, and contain forfeiture and non-compete provisions. We issue share-based payment awards from shares held in treasury. Future vesting is generally subject to continued employment. Holders of share-based awards 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 and in accordance with our stock trading policy.

We account for share-based payment awards that will be settled in cash as liability-based awards, which includes PRSUs and restricted stock units. We measure share-based compensation expense of liability-based awards at fair value at each reporting date until the date of settlement based on the number of units expected to vest and, where applicable, the level of achievement of predefined performance goals. These awards are remeasured on each reporting date based on our stock price and the Monte Carlo simulation model. A Monte Carlo simulation requires the use of several assumptions, including historical volatility and correlation between our stock price and the price of the common shares of a comparator group, a risk-free rate of return, and an expected term. Share-based compensation expense related to liability-based awards is recognized ratably over the requisite service period of approximately three years.

We account for share-based awards that will be settled in shares of our common stock as equity-based awards, which include PRSUs, restricted stock units, and restricted stock awards. We measure share-based compensation expense of equity-based awards at fair value on the grant date on a straight-line basis over the vesting period. The estimated number of shares to be achieved is updated each reporting period based on the number of units expected to vest and, where applicable, the level of achievement of predefined performance goals, until the date of settlement. Share-based compensation expense related to equity-based awards is recognized ratably over the requisite service period ranging from one to three years.

The fair value of stock option grants is estimated on the date of grant using the Black-Scholes stock option pricing model. We grant non-qualified stock options that are performance-based and service-based. The performance-based awards are recognized on a straight-line basis over the performance period ranging up to 3.4 years, and the underlying shares expected to be settled are adjusted each reporting period based on estimated future achievement of the respective performance metrics. The service-based awards are recognized on a straight-line basis over the requisite service period on a graded-vesting schedule ranging from one to three years. The exercise price of stock options is based on the market value of our 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 (Loss) Per Common Share

Diluted income (loss) per common share is calculated using the more dilutive of the two-class method or as-converted method. The two-class method uses net income (loss) available to common stockholders and assumes conversion of all potential shares other than the participating securities. The as-converted method uses net income (loss) available to common shareholders and assumes conversion of all potential shares including the participating securities. Dilutive potential common shares include outstanding stock options, unvested restricted share units and convertible preferred stock. We apply the two-class method in calculating income (loss) per common share as unvested share-based payment awards that contain nonforfeitable rights to dividends and preferred stock are considered participating securities. Accordingly, such securities are included in the earnings allocation in calculating income (loss) per share. The adjustment to the carrying value of the redeemable noncontrolling interest is reflected in income (loss) per common share.

Impact of Recent Accounting Pronouncements

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


Standard	Description	Date of adoption	Effect on the financial statements
Standards Not Yet Adopted
ASU 2020-06, Debt - Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging - Contracts in Entity’s Own Equity (Subtopic 815-40)	The amendment simplifies the accounting for convertible instruments by reducing the number of accounting models available for convertible debt instruments and convertible preferred stock. The amendment also requires expanded disclosures about the terms and features of convertible instruments.	1/1/2022	We do not expect this new guidance will have a material impact on our consolidated financial statements.
2021-08, Business Combinations (Topic 805) Accounting for Contract Assets and Contract Liabilities from Contracts with Customers	Amendment relates to the application of Topic 805, Business Combinations, to contracts with a customer acquired in a business combination after the acquirer has adopted Topic 606. ASU 2021-08 requires contract assets and contract liabilities to be accounted for as if they (the acquirer) entered into the original contract at the same time and same date as the acquiree.	1/1/2023	We are currently evaluating the potential impact of the adoption of this new guidance on our consolidated financial statements. We do not expect this new guidance will have a material impact on our consolidated financial statements.
ASU 2021-10, Government Assistance (Topic 832) Disclosures by Business Entities about Government Assistance	Amendment improves the transparency of government assistance received by most business entities by requiring the disclosure of: (1) the types of government assistance received; (2) the accounting for such assistance; and (3) the effect of the assistance on a business entity’s financial statements.	12/31/2022	We are currently evaluating the potential impact of the adoption of this new guidance on our consolidated financial statements. We do not expect this new guidance will have a material impact on our consolidated financial statements.


Standard	Description	Date of adoption	Effect on the financial statements
Standards Recently Adopted
ASU 2019-12, Income Taxes (Topic 740) Simplifying the Accounting for Income Taxes	The amendment enhances and simplifies various aspects of the income tax accounting guidance, including requirements such as ownership changes in investments, and interim-period accounting for enacted changes in tax law.	1/1/2021	The adoption of this new standard on January 1, 2021 did not have a material impact on our consolidated financial statements.

Revenue and Related Contract Costs and Contract Liabilities

12 Months Ended

Dec. 31, 2021

Revenue from Contract with Customer [Abstract]

Note 2. Revenue and Related Contract Costs and Contract Liabilities

GES’ performance obligations consist of services or product(s) outlined in a contract. While we often sign multi-year contracts for recurring events, the obligations for each occurrence are well defined and conclude upon the occurrence of each event. The obligations are typically the provision of services and/or sale of a product in connection with a live event. Revenue for goods and services provided for which we do not have control of the goods or services before that good or service is transferred to a customer is recorded on a net basis to reflect only the fees received for arranging these services. We recognize revenue for services generally at the close of the live event. We recognize revenue for products either upon delivery to the customer’s location, upon delivery to an event that we are serving, or when we have the right to invoice. In circumstances where a customer cancels a contract, we generally have the right to bill the customer for costs incurred to date. Payment terms are generally within 30-60 days and contain no significant financing components.

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

Contract Liabilities

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

Changes to contract liabilities are as follows:


(in thousands)
Balance at January 1, 2019	$	50,796
Cash additions		154,057
Revenue recognized		(186,518	)
Foreign exchange translation adjustment		283
Balance at December 31, 2020		18,618
Cash additions		147,814
Revenue recognized		(126,573	)
Foreign exchange translation adjustment		(197	)
Balance at December 31, 2021	$	39,662

Contract Costs

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

Changes to contract costs are as follows:


(in thousands)
Balance at January 1, 2019	$	28,496
Additions		19,517
Expenses		(25,381	)
Cancelled		(11,482	)
Foreign exchange translation adjustment		(315	)
Balance at December 31, 2020		10,835
Additions		31,923
Expenses		(27,935	)
Cancelled		(976	)
Foreign exchange translation adjustment		(57	)
Balance at December 31, 2021	$	13,790

As of December 31, 2021, capitalized contract costs consisted of $0.5 million to obtain contracts and $13.3 million to fulfill contracts. We did not recognize an impairment loss with respect to capitalized contract costs during the years ended December 31, 2021 or 2020.

Disaggregation of Revenue

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

Pursuit


	Year Ended December 31,
(in thousands)	2021			2020			2019
Services:
Admissions	$	61,166		$	19,939		$	85,371
Accommodations		61,156			29,800			60,672
Transportation		5,591			2,694			14,594
Travel planning and other		5,638			467			5,979
Intersegment eliminations		(627	)		(317	)		(1,686	)
Total services revenue		132,924			52,583			164,930
Products:
Food and beverage		28,953			10,295			31,838
Retail operations		25,171			13,932			26,045
Total products revenue		54,124			24,227			57,883
Total revenue	$	187,048		$	76,810		$	222,813

Timing of revenue recognition:
Services transferred over time	$	132,924		$	52,583		$	164,930
Products transferred at a point in time		54,124			24,227			57,883
Total revenue	$	187,048		$	76,810		$	222,813

Markets:
Banff Jasper Collection	$	82,728		$	46,913		$	133,229
Alaska Collection		37,344			6,282			39,406
Glacier Park Collection		45,276			17,596			37,121
FlyOver		10,693			6,019			13,057
Sky Lagoon(1)		11,007			—			—
Total revenue	$	187,048		$	76,810		$	222,813

(1)

We opened Pursuit’s Sky Lagoon attraction in Reykjavik, Iceland on April 30, 2021.

GES

During the first quarter of 2021, we changed GES’ presentation of certain items in the following disaggregation of revenue table to depict how the nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factors. All prior periods have been reclassified to conform to this new reporting structure.


	Year Ended December 31,
(in thousands)	2021			2020			2019
Service lines:
Exhibitions and Conferences	$	200,846		$	228,033		$	692,128
Brand experiences		105,872			97,654			328,085
Venue services		13,574			12,938			59,710
Total revenue	$	320,292		$	338,625		$	1,079,923

Timing of revenue recognition:
Services transferred over time	$	268,218		$	298,945		$	936,604
Products transferred over time(1)		18,551			15,517			61,668
Products transferred at a point in time		33,523			24,163			81,651
Total revenue	$	320,292		$	338,625		$	1,079,923

Geographical markets:
North America	$	243,983		$	288,921		$	884,105
EMEA		82,242			53,384			216,559
Intersegment eliminations		(5,933	)		(3,680	)		(20,741	)
Total revenue	$	320,292		$	338,625		$	1,079,923

(1)

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

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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Share-based Payment Arrangement [Abstract]

Share-Based Compensation

12 Months Ended

Dec. 31, 2021

Share-Based Compensation

Note 3. Share-Based Compensation

We grant share-based compensation awards to our officers, directors, and certain key employees pursuant to the 2017 Viad Corp Omnibus Incentive Plan (the “2017 Plan”). The 2017 Plan has a 10-year term and provides for the following types of awards: (a) incentive and non-qualified stock options; (b) restricted stock awards and restricted stock units; (c) performance units or performance shares; (d) stock appreciation rights; (e) cash-based awards; and (f) certain other stock-based awards. In June 2017, we registered 1,750,000 shares of common stock issuable under the 2017 Plan. As of December 31, 2021, there were 672,648 shares available for future grant under the 2017 Plan.

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


	Year Ended December 31,
(in thousands)	2021			2020			2019
Performance-based restricted stock units	$	549		$	(2,187	)	$	3,990
Restricted stock awards and restricted stock units		5,451			4,523			3,200
Stock options		1,727			317			—
Share-based compensation expense before income tax		7,727			2,653			7,190
Income tax benefit(1)		(82	)		—			(2,241	)
Share-based compensation expense, net of income tax	$	7,645		$	2,653		$	4,949

(1)

The 2021 income tax benefit amount primarily reflects the tax benefit associated with our Canadian-based employees. There was no income tax benefit in 2020 associated with our employees in the United States and the United Kingdom due to a valuation allowance on our deferred tax assets within these jurisdictions. Refer to Note 17 – Income Taxes.

We recorded no share-based compensation expense through restructuring charges in 2021 or 2020, and $0.1 million in 2019. No share-based compensation costs were capitalized during 2021, 2020, or 2019.

Performance-based Restricted Stock Units

Performance-based restricted stock units (“PRSUs”) are tied to our stock price and the expected achievement of certain performance-based criteria. The vesting of PRSUs is based upon the achievement of the performance-based criteria over a three to four-year period. We account for PRSUs that will be settled in shares of our common stock as equity-based awards. We measure share-based compensation

expense of equity-based awards at fair value on the grant date on a straight-line basis over the vesting period. The estimated number of units to be achieved is updated each reporting period.

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

During the year ended December 31, 2021, we granted PRSUs with a grant date fair value of $3.2 million, all of which are payable in shares.

In 2021, PRSUs granted in 2018 vested; however, as performance metrics were not achieved, no awards were paid in cash or in shares. In 2020, PRSUs granted in 2017 vested and we paid $2.6 million in cash. No PRSUs were paid in shares in 2020. In 2019, PRSUs granted in 2016 vested and we paid $5.6 million in cash and $3.4 million in shares. In 2019, we withheld 25,771 shares for $1.5 million related to tax withholding requirements on vested PRSUs paid in shares.

As of December 31, 2021, the unamortized cost of outstanding equity-based PRSUs was $2.5 million, which we expect to recognize over a weighted-average period of approximately 2.5 years. Liabilities related to liability-based PRSUs were $0.7 million as of December 31, 2021 and $0.8 million as of December 31, 2020.

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


	Equity-Based PRSUs					Liability-Based PRSUs
	Shares			Weighted-Average Grant Date Fair Value		Shares			Weighted-Average Grant Date Fair Value
Balance at December 31, 2020		61,208		$	57.18		121,485		$	56.34
Granted		101,785		$	31.28		—		$	—
Vested		—		$	—		(42,698	)	$	51.96
Forfeited		(28,841	)	$	58.25		(1,041	)	$	56.90
Balance at December 31, 2021		134,152		$	37.30		77,746		$	57.13

Service-based Restricted Stock Awards and Restricted Stock Units

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

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

As of December 31, 2021, the unamortized cost of outstanding equity-based restricted stock awards and restricted stock units was $6.3 million, which we expect to recognize over a weighted-average period of approximately 1.2 years. We repurchased 37,686 shares for $1.6 million during 2021, 42,185 shares for $1.7 million during 2020, and 24,995 shares for $1.5 million in 2019 related to tax withholding requirements on vested share-based awards.

Aggregate liabilities related to liability-based restricted stock units were $0.2 million as of both December 31, 2021 and December 31, 2020. In 2021, 3,174 restricted stock units vested, and we paid $0.1 million in cash. In 2020, 2,815 restricted stock units vested, and we paid $0.2 million in cash and $2.0 million in shares. In 2019, 9,250 restricted stock units vested, and we paid $0.6 million in cash and $0.2 million in shares.

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


	Equity-Based Restricted Stock Awards					Equity-Based Restricted Stock Units					Liability-Based Restricted Stock Units
	Shares			Weighted-Average Grant Date Fair Value		Shares			Weighted-Average Grant Date Fair Value		Shares			Weighted-Average Grant Date Fair Value
Balance at December 31, 2020		107,107		$	53.23		151,261		$	19.51		10,459		$	51.91
Granted		22,560		$	44.77		155,110		$	43.24		—		$	—
Vested		(50,596	)	$	49.92		(60,905	)	$	19.54		(3,174	)	$	52.24
Forfeited		(2,279	)	$	56.63		(6,278	)	$	25.09		(1,007	)	$	37.20
Balance at December 31, 2021		76,792		$	52.83		239,188		$	34.74		6,278		$	55.93

Stock Options

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

The following table summarizes stock option activity:


	Shares			Weighted-Average Exercise Price		Aggregate Intrinsic Value(1)
Options outstanding at December 31, 2020		204,150		$	19.98
Granted		137,858		$	44.80
Exercised		—		$	—
Forfeited		(30,000	)	$	19.30
Options outstanding at December 31, 2021		312,008		$	31.01	$	3,952,701
Options exercisable at December 31, 2021		27,075		$	21.85	$	566,951

(1)

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

The following table summarizes stock options outstanding and exercisable as of December 31, 2021:


	Options Outstanding						Options Exercisable
Range of exercise prices	Shares		Weighted-Average Remaining Contractual Life (in years)		Weighted-Average Exercise Price		Shares		Weighted-Average Exercise Price
$19.30		120,000		7.00	$	19.30		—	$	—
$21.85		54,150		5.65	$	21.85		27,075	$	21.85
$44.80		137,858		6.15	$	44.80		—	$	—
$19.30 - $44.80		312,008		6.39	$	31.01		27,075	$	21.85

The fair value of stock options granted in 2021 was estimated on the date of grant using the Black-Scholes stock option pricing model.

Following is additional information on stock options granted during 2021 and the underlying assumptions used in assessing fair value:


	Year Ended
	December 31, 2021
Assumptions used to estimate fair value of stock options granted:
Risk-free interest rate		0.5	%
Expected term (in years)		4.5
Expected volatility		55.8	%
Expected dividend yield		—
Weighted average grant-date fair value per share of options granted	$	20.26

As of December 31, 2021 and 2020, the total unrecognized compensation cost related to non-vested stock option awards was $1.4 million. We expect to recognize such costs over a weighted-average period of approximately 1.5 years.

Acquisitions

12 Months Ended

Dec. 31, 2021

Business Combinations [Abstract]

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Note 4. Acquisitions

2021 Acquisitions

Golden Skybridge

On March 18, 2021, we acquired a 60% controlling interest in the Golden Skybridge attraction for total cash consideration of $15 million Canadian dollars (approximately $12 million U.S. dollars), of which $6 million Canadian dollars (approximately $4.8 million U.S. dollars) were primarily used to fund additional experiences. The Golden Skybridge opened in June 2021.

The fair value of net assets acquired as of the acquisition date included $2.2 million U.S. dollars in property and equipment and $6.8 million U.S. dollars in noncontrolling interest. Under the acquisition method of accounting, the purchase price is allocated to the tangible and identifiable intangible assets acquired and liabilities assumed based on their estimated fair values. The excess purchase price over the fair value of net assets acquired of $11.8 million U.S. dollars was recorded as “Goodwill.” Goodwill is included in the Pursuit business group. The primary factor that contributed to the purchase price resulting in the recognition of goodwill related to future growth opportunities when combined with our other businesses. Goodwill is not deductible for tax purposes. We included these assets in the Consolidated Balance Sheets from the date of acquisition.

Transaction costs associated with the acquisition were $0.4 million U.S. dollars during 2021, which are included in “Costs of services” in the Consolidated Statements of Operations.

2019 Acquisitions

Belton Chalet

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

Mountain Park Lodges

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

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

The following table summarizes the final allocation of the aggregate purchase price paid and amounts of assets acquired and liabilities assumed based upon the estimated fair value at the date of acquisition.


(in thousands)
Purchase price paid as:
Cash			$	75,837
Net working capital adjustment				18
Consideration transferred				75,855
Right to manage				(1,276	)
Purchase price, net				74,579

Fair value of net assets acquired:
Accounts receivable	$	333
Inventories		152
Prepaid expenses		276
Property and equipment		103,642
Intangible assets		20,180
Total assets acquired		124,583
Accounts payable		329
Advanced deposits payable		400
Deferred tax liability		19,734
Other liabilities		16
Total liabilities assumed		20,479

Noncontrolling interest equity		49,719
Total fair value of net assets acquired				54,385
Excess purchase price over fair value of net assets acquired (“goodwill”)			$	20,194

Under the acquisition method of accounting, the purchase price as shown in the table above is allocated to the tangible and identifiable intangible assets acquired and liabilities assumed based on their estimated fair values. The excess purchase price over the fair value of net assets acquired was recorded as “Goodwill.” Goodwill is included in the Pursuit business group. The primary factor that contributed to the purchase price resulting in the recognition of goodwill related to future growth opportunities when combined with our other businesses. Goodwill is not deductible for tax purposes. The estimated values of current assets and liabilities were based upon their historical costs on the acquisition date due to their short-term nature.

Transaction costs associated with the Mountain Park Lodges were $0.9 million in 2019, which are included in “Corporate activities” in the Consolidated Statements of Operations. The results of operations of Mountain Park Lodges have been included in the consolidated financial statements from the date of acquisition.

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

Sky Lagoon Attraction

On July 25, 2019, we announced plans for Sky Lagoon in Reykjavik, Iceland. We acquired a 51% controlling interest for $13.2 million in the new entity that manages Sky Lagoon, which we operate in partnership with Geothermal Lagoon ehf., the Icelandic entity that owns the lagoon assets. The noncontrolling interest’s carrying value was determined by the fair value of the noncontrolling interest as of the acquisition date and the noncontrolling interest’s share of the subsequent net income or loss. The amortization of the resulting operating contract intangible is not deductible for tax purposes. We opened Sky Lagoon in April 2021.

Supplementary pro forma financial information

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


(in thousands, except per share data)	Year Ended December 31, 2019
Revenue	$	1,310,997
Depreciation and amortization	$	61,597
Income from continuing operations	$	22,195
Net income attributable to Viad	$	21,337
Diluted income per share	$	0.99
Basic income per share	$	0.99

Inventories

12 Months Ended

Dec. 31, 2021

Inventory Disclosure [Abstract]

Inventories

Note 5. Inventories

The components of inventories consisted of the following:


	December 31,
(in thousands)	2021		2020
Raw materials	$	2,350	$	3,362
Finished goods		6,231		5,365
Inventories	$	8,581	$	8,727

Other Current Assets

12 Months Ended

Dec. 31, 2021

Other Current Assets

Note 6. Other Current Assets

Other current assets consisted of the following:


	December 31,
(in thousands)	2021		2020
Prepaid software maintenance	$	4,154	$	3,058
Restricted cash		2,703		2,426
Income tax receivable		1,901		337
Prepaid vendor payments		1,604		1,835
Prepaid taxes		456		345
Prepaid other		1,165		1,296
Other		2,097		3,631
Other current assets	$	14,080	$	12,928

Property and Equipment, Net

12 Months Ended

Dec. 31, 2021

Property, Plant and Equipment [Abstract]

Property and Equipment

Note 7. Property and Equipment, Net

Property and equipment consisted of the following:


	December 31,
(in thousands)	2021			2020
Land and land interests(1)	$	30,532		$	32,849
Buildings and leasehold improvements		407,930			386,751
Equipment and other		413,684			401,288
Gross property and equipment		852,146			820,888
Accumulated depreciation		(364,060	)		(352,100	)
Property and equipment, net (excluding finance leases)		488,086			468,788
Finance lease ROU assets, net(2)		61,022			23,366
Property and equipment, net	$	549,108		$	492,154

(1)

Land and land interests include certain leasehold interests in land within Pursuit for which we are considered to have perpetual use rights. The carrying amount of these leasehold interests was $8.4 million as of December 31, 2021 and $8.3 million as of December 31, 2020. These land interests are not subject to amortization.

(2)

The increase in finance lease ROU assets, net is primarily due to the commencement of Pursuit’s Sky Lagoon attraction in Iceland during 2021.

Depreciation expense was $43.7 million during 2021, $46.5 million during 2020, and $45.6 million during 2019.

Property and equipment purchased through accounts payable and accrued liabilities increased $2.3 million during 2021, decreased $6.9 million during 2020, and increased $4.2 million during 2019.

We recorded fixed asset impairment charges of $1.6 million during 2020 primarily related to capitalized software and $3.8 million to equipment during 2019 primarily related to our audio-visual production business in the United Kingdom.

Other Investments and Assets

12 Months Ended

Dec. 31, 2021

Investments, All Other Investments [Abstract]

Other Investments and Assets

Note 8. Other Investments and Assets

Other investments and assets consisted of the following:


	December 31,
(in thousands)	2021		2020
Self-insured liability receivable	$	6,847	$	6,358
Other mutual funds		4,057		3,457
Contract costs		2,685		2,912
Other		3,129		2,765
Other investments and assets	$	16,718	$	15,492

Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

Note 9. Goodwill and Other Intangible Assets

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


(in thousands)	GES			Pursuit			Total
Balance at December 31, 2019	$	186,105		$	101,878		$	287,983
Goodwill impairment		(184,031	)		(1,758	)		(185,789	)
Foreign currency translation adjustments		(2,074	)		1,659			(415	)
Other		—			(1,932	)		(1,932	)
Balance at December 31, 2020		—			99,847			99,847
Business acquisition		—			11,776			11,776
Foreign currency translation adjustments		—			455			455
Balance at December 31, 2021	$	—		$	112,078		$	112,078

The following table summarizes the remaining goodwill by reporting unit:


	December 31,
(in thousands)	2021		2020
Pursuit:
Banff Jasper Collection	$	66,898	$	54,856
Alaska Collection		3,184		3,184
FlyOver		41,996		41,807
Total Goodwill	$	112,078	$	99,847

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

We recorded non-cash goodwill impairment charges of $185.8 million during 2020 primarily related to the write-off of all of GES’ goodwill due to the deteriorating macroeconomic environment related to the COVID-19 pandemic. Our remaining goodwill balance as of December 31, 2021 of $112.1 million pertains to our Pursuit business. Although certain of Pursuit’s reporting units continue to operate at a loss due to the COVID-19 pandemic, we did not record any impairment charges during 2021 as there were no significant changes to our outlook for the future years and the risk profile of the reporting units had not changed.

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

Our accumulated goodwill impairment was $415.5 million as of December 31, 2021 and 2020.

Other intangible assets consisted of the following:


		December 31, 2021							December 31, 2020
(in thousands)	Useful Life (Years)	Gross Carrying Value		Accumulated Amortization			Net Carrying Value		Gross Carrying Value		Accumulated Amortization			Net Carrying Value
Intangible assets subject to amortization:
Customer contracts and relationships	6.1	$	36,848	$	(28,372	)	$	8,476	$	38,214	$	(26,288	)	$	11,926
Operating contracts and licenses	35.7		40,927		(2,660	)		38,267		42,012		(2,405	)		39,607
In-place lease	13.1		15,464		(1,084	)		14,380		15,347		(656	)		14,691
Tradenames	4.4		5,626		(2,819	)		2,807		5,940		(2,435	)		3,505
Non-compete agreements	--		—		—			—		770		(616	)		154
Other	6.2		824		(139	)		685		818		(102	)		716
Total amortized intangible assets			99,689		(35,074	)		64,615		103,101		(32,502	)		70,599
Indefinite-lived intangible assets:
Business licenses			574		—			574		573		—			573
Other intangible assets		$	100,263	$	(35,074	)	$	65,189	$	103,674	$	(32,502	)	$	71,172

Intangible asset amortization expense was $5.8 million during 2021, $6.4 million during 2020, and $10.6 million during 2019. We recorded a non-cash impairment charge to intangible assets of $15.7 million during 2020 related our United States audio-visual production business and $1.5 million during 2019 related to our United Kingdom audio-visual production business. The duration and impact of COVID-19 may result in additional future impairment charges as facts and circumstances evolve.

At December 31, 2021, the estimated future amortization expense related to intangible assets subject to amortization is as follows:


(in thousands)
Year ending December 31,
2022	$	5,121
2023		4,462
2024		3,505
2025		2,210
2026		2,181
Thereafter		47,136
Total	$	64,615

Other Current Liabilities

12 Months Ended

Dec. 31, 2021

Other Liabilities, Current [Abstract]

Other Current Liabilities

Note 10. Other Current Liabilities

Other current liabilities consisted of the following:


	December 31,
(in thousands)	2021		2020
Continuing operations:
Self-insured liability	$	4,815	$	5,715
Accrued employee benefit costs		4,164		2,363
Commissions payable		4,119		903
Accrued sales and use taxes		3,428		1,547
Accrued professional fees		1,671		1,691
Current portion of pension and postretirement liabilities		1,637		1,805
Accommodation services deposits		892		304
Accrued restructuring		864		2,479
Accrued interest payable		228		3,042
Other taxes		1,042		1,872
Other		4,963		4,819
Total continuing operations		27,823		26,540
Discontinued operations:
Self-insured liability		312		347
Environmental remediation liabilities		60		61
Other		94		91
Total discontinued operations		466		499
Total other current liabilities	$	28,289	$	27,039

Other Deferred Items and Liabilities

12 Months Ended

Dec. 31, 2021

Other Liabilities Disclosure [Abstract]

Other Deferred Items and Liabilities

Note 11. Other Deferred Items and Liabilities

Other deferred items and liabilities consisted of the following:


	December 31,
(in thousands)	2021		2020
Continuing operations:
Foreign deferred tax liability	$	27,748	$	21,336
Multi-employer pension plan withdrawal liability		14,260		15,864
Self-insured excess liability		6,847		6,358
Accrued compensation		5,696		5,821
Self-insured liability		5,119		6,662
Accrued restructuring		2,571		2,751
Other		2,758		1,479
Total continuing operations		64,999		60,271
Discontinued operations:
Environmental remediation liabilities		2,168		2,179
Self-insured liability		1,535		1,639
Other		251		539
Total discontinued operations		3,954		4,357
Total other deferred items and liabilities	$	68,953	$	64,628

Debt and Finance Lease Obligations

12 Months Ended

Dec. 31, 2021

Debt Disclosure [Abstract]

Debt And Finance Obligations

Note 12. Debt and Finance Obligations

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


	December 31,
(in thousands, except interest rates)	2021			2020
2021 Credit Facility, 5.5% weighted-average interest rate at December 31, 2021, due through 2028(1)	$	399,000		$	—
2018 Credit Facility, 4.5% weighted-average interest rate at December 31, 2020(1)		—			266,762
FlyOver Iceland Credit Facility, 4.9% weighted-average interest rate at December 31, 2021 and 2020, due through 2025(1)		5,566			5,820
FlyOver Iceland Term Loans, 3.8% weighted-average interest rate at December 31, 2021 and 2020, due through 2024(1)		689			705
Less unamortized debt issuance costs		(14,804	)		(2,737	)
Total debt		390,451			270,550
Finance lease obligations, 9.1% weighted-average interest rate at December 31, 2021 and 8.0% at December 31, 2020, due through 2067(2)		63,401			23,141
Financing arrangements		5,528			—
Total debt and finance obligations(3)(4)		459,380			293,691
Current portion		(12,800	)		(8,335	)
Long-term debt and finance obligations	$	446,580		$	285,356

(1)

Represents the weighted-average interest rate in effect at the respective periods, including any applicable margin. The interest rates do not include amortization of debt issuance costs or commitment fees.

(2)

The increase in finance lease obligations is primarily due to the commencement of Pursuit’s Sky Lagoon attraction in Iceland during 2021, which has a 46-year lease term.

(3)

The weighted-average interest rate on total debt (including unamortized debt issuance costs and commitment fees) was 6.4% for 2021, 4.6% for 2020 and 4.2% for 2019. The estimated fair value of total debt and finance leases was $328.9 million as of December 31, 2021 and $254.0 million as of December 31, 2020. The fair value of debt was estimated by discounting the future cash flows using rates currently available for debt of similar terms and maturity, which is a Level 2 measurement. Refer to Note 13 – Fair Value Measurements.

(4)

Cash paid for interest on debt was $25.9 million during 2021, $14.0 million during 2020, and $11.9 million during 2019.

2021 Credit Facility

Effective July 30, 2021, we refinanced the 2018 Credit Facility, which was scheduled to mature on October 24, 2023, with the new $500 million 2021 Credit Facility. The 2021 Credit Facility provides for a $400 million Term Loan B with a maturity date of July 30, 2028 and a $100 million revolving credit facility with a maturity date of July 30, 2026. The proceeds will be used to provide for financial flexibility to fund future acquisitions and growth initiatives and for general corporate purposes.

Term Loan B

The $400 million Term Loan B proceeds were offset in part by $14.8 million in related fees. The proceeds from the Term Loan B were used to repay the $327 million outstanding balance under the 2018 Credit Facility. Interest rate on the Term Loan B is London Interbank Offered Rate (“LIBOR”) plus 5.00%, with a LIBOR floor of 0.50%. There are no financial covenants under the Term Loan B.

Revolving Credit Facility

The following are significant terms under the revolving credit facility:

•

Maintain minimum liquidity of $75 million through the earlier of (i) June 30, 2022 or (ii) the first fiscal quarter we are in compliance with the financial covenants, with liquidity defined as unrestricted cash and available capacity on our revolving credit facility;

•

Financial covenants will first be tested as of September 30, 2022 as described below:

o

Maintain a total net leverage ratio of not greater than 4.50 to 1.00 with a step-down to 4.00 to 1.00 on or after December 31, 2022 and a step-up of 0.5x for four quarters for any material acquisition; and

o

Maintain an interest coverage ratio of not less than 2.00 to 1.00, with a step-up to 2.50 to 1.00 on or after December 31, 2022;

•

Interest rate during minimum liquidity period is LIBOR plus 3.50% and a 0.50% commitment fee; and

•

Interest rates during the leverage test period are based on the net leverage ratio and range from LIBOR plus 2.50% with an undrawn fee of 0.30% to LIBOR plus 3.50% with an undrawn fee of 0.50%.

As of December 31, 2021, capacity remaining under the 2021 Credit Facility was $87.4 million, reflecting the $100 million revolving credit facility less $12.6 million in outstanding letters of credit.

2018 Credit Agreement

Effective October 24, 2018, we entered into the 2018 Credit Agreement. The 2018 Credit Agreement provided for a $450 million revolving credit facility. The 2018 Credit Facility was repaid in July 2021 from the proceeds of the 2021 Credit Facility.

As a result of the refinance and the repayment of the 2018 Credit Facility, we recorded $2.1 million of interest expense related to the write-off of unamortized debt issuance costs during 2021.

FlyOver Iceland Credit Facility

Effective February 15, 2019, FlyOver Iceland ehf., (“FlyOver Iceland”) a wholly-owned subsidiary of Esja, entered into a credit agreement with a €5.0 million (approximately $5.6 million U.S. dollars) credit facility (the “FlyOver Iceland Credit Facility”) with a maturity date of March 1, 2022. The loan proceeds were used to complete the development of the FlyOver Iceland attraction.

In response to the COVID-19 pandemic, we entered into an addendum to the FlyOver Iceland Credit Facility effective January 8, 2021 wherein the principal payments were deferred for twelve months beginning December 1, 2020, with the first payment due December 1, 2021. The addendum also extended the maturity date to September 1, 2023. During the first quarter of 2021, we obtained a waiver of certain covenants to the FlyOver Iceland Credit Facility through December 2021. There were no other changes to the terms of the FlyOver Iceland Credit Facility.

Due to the continued impact of the COVID-19 pandemic, we entered into another addendum effective December 1, 2021 wherein the principal payments were deferred for twelve months beginning December 1, 2021, with the first payment due December 1, 2022. The addendum extended the maturity date to March 1, 2025 and provided for a semi-annual waiver of certain covenants through June 30, 2022 with the first testing date as of December 31, 2022. Conditions to the amendment included securing additional capital of ISK 75.0 million (approximately $0.6 million) in January 2022, which was completed, in order to strengthen FlyOver Iceland’s liquidity position. There were no other changes to the terms of the FlyOver Iceland Credit Facility.

FlyOver Iceland Term Loans

During 2020, FlyOver Iceland entered into three term loans totaling ISK 90.0 million (approximately $0.7 million U.S. dollars) (the “FlyOver Iceland Term Loans”). The first term loan for ISK 10.0 million was entered into effective October 15, 2020 with a maturity date of April 1, 2023 and bears interest on a seven-day term deposit at the Central Bank of Iceland. The second term loan for ISK 30.0 million was entered into effective October 15, 2020 with a maturity date of October 1, 2024 and bears interest on a seven-day term deposit at the Central Bank of Iceland plus 3.07%. The third term loan for ISK 50.0 million was entered into effective December 29, 2020 with a maturity date of February 1, 2023 and bears interest at one-month Reykjavik InterBank Offered Rate (“REIBOR”) plus 4.99%. The Icelandic State Treasury guarantees supplemental loans provided by credit institutions to companies impacted by the

COVID-19 pandemic. Accordingly, the Icelandic State Treasury guaranteed the repayment of up to 85% of the principal and interest on the ISK 10.0 million and ISK 30.0 million term loans and 70% of the principal amount on the ISK 50.0 million term loan. Loan proceeds were used to fund FlyOver Iceland operations.

Financing arrangements

We have insurance premium financing arrangements in order to finance certain of our insurance premium payments. The financing arrangements are payable within the next 12 months and bear a weighted average interest rate of 3.64%.

Future maturities

Aggregate annual maturities of long-term debt (excluding finance payments) as of December 31, 2021 are as follows:


(in thousands)	Credit Facilities
Year ending December 31,
2022	$	4,344
2023		5,621
2024		5,188
2025		5,083
2026		5,083
Thereafter		379,936
Total	$	405,255

The aggregate annual maturities and the related amounts representing interest on finance lease obligations are included in Note 20 – Leases and Other.

Fair Value Measurements

12 Months Ended

Dec. 31, 2021

Fair Value Disclosures [Abstract]

Fair Value Measurements

Note 13. Fair Value Measurements

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

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

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

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

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


			Fair Value Measurements at Reporting Date Using
(in thousands)	December 31, 2021		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Money market funds(1)	$	11,003	$	11,003	$	—	$	—
Other mutual funds(2)		4,057		4,057		—		—
Total assets at fair value on a recurring basis	$	15,060	$	15,060	$	—	$	—


			Fair Value Measurements at Reporting Date Using
(in thousands)	December 31, 2020		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Money market funds(1)	$	2	$	2	$	—	$	—
Other mutual funds(2)		3,457		3,457		—		—
Total assets at fair value on a recurring basis	$	3,459	$	3,459	$	—	$	—

(1)

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

(2)

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

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

Common and Preferred Stock

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

+ References + Details

Income (Loss) Per Share

12 Months Ended

Dec. 31, 2021

Earnings Per Share [Abstract]

Income (Loss) Per Share

Note 14. Income (Loss) Per Share

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



	Year Ended December 31,
(in thousands, except per share data)	2021			2020			2019
Net income (loss) attributable to Viad (diluted)	$	(92,655	)	$	(374,094	)	$	22,035
Less: Allocation to participating securities		—			—			(147	)
Convertible preferred stock dividends paid in cash		(3,900	)		—			—
Convertible preferred stock dividends paid in kind		(3,821	)		(3,006	)		—
Adjustment to the redemption value of redeemable noncontrolling interest		(1,797	)		(926	)		(1,318	)
Net income (loss) allocated to Viad common stockholders (basic)	$	(102,173	)	$	(378,026	)	$	20,570
Add: Allocation to participating securities		—			—			—
Net income (loss) allocated to Viad common stockholders (diluted)	$	(102,173	)	$	(378,026	)	$	20,570

Basic weighted-average outstanding common shares		20,411			20,279			20,146
Additional dilutive shares related to share-based compensation		—			—			138
Diluted weighted-average outstanding shares		20,411			20,279			20,284
Income (loss) per share:
Basic income (loss) attributable to Viad common stockholders	$	(5.01	)	$	(18.64	)	$	1.02
Diluted income (loss) attributable to Viad common stockholders(1)	$	(5.01	)	$	(18.64	)	$	1.02

(1)

Diluted loss per share amount cannot exceed basic loss per share.

We excluded the following weighted-average potential common shares from the calculations of diluted net income (loss) per common share during the applicable periods because their inclusion would have been anti-dilutive:


	Year Ended December 31,
(in thousands)	2021		2020		2019
Convertible preferred stock		6,674		6,406		—
Unvested restricted share-based awards		176		115		8
Unvested performance share-based awards		32		—		—
Stock options		194		24		—

Common and Preferred Stock

12 Months Ended

Dec. 31, 2021

Equity [Abstract]

Note 15. Common and Preferred Stock

Preferred Stock

We authorized two million shares of Junior Participating Preferred Stock, none of which was outstanding on December 31, 2021 and five million shares of Preferred Stock of which 141,827 shares are outstanding.

Convertible Series A Preferred Stock

On August 5, 2020, we entered into an Investment Agreement with funds managed by private equity firm Crestview Partners, relating to the issuance of 135,000 shares of newly issued Convertible Series A Preferred Stock, par value $0.01 per share, for an aggregate purchase price of $135 million or $1,000 per share. The $135 million issuance was offset in part by $9.2 million of expenses related to the capital raise. We have classified the convertible preferred stock as mezzanine equity in the Consolidated Balance Sheet due to the existence of certain change in control provisions that are not solely within our control.

The Convertible Series A Preferred Stock carries a 5.5% cumulative quarterly dividend, which is payable in cash or in-kind at Viad’s option and is convertible at the option of the holders into shares of our common stock at a conversion price of $21.25 per share. Upon the occurrence of a change in control event, the holders have a right to require Viad to repurchase such preferred stock. During the year ended December 31, 2021, $7.7 million of dividends were deemed declared of which $3.8 million was paid in-kind during the first and second quarters of 2021 and $3.9 million was paid in cash during the third and fourth quarters of 2021. We intend to pay preferred stock dividends in cash for the foreseeable future.

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

Common Stock Repurchases

Our Board of Directors previously authorized us to repurchase shares of our common stock from time to time at prevailing market prices. Effective February 7, 2019, our Board of Directors authorized the repurchase of an additional 500,000 shares. In March 2020, our Board of Directors suspended our share repurchase program for the foreseeable future. Prior to the suspension, we had repurchased 53,784 shares on the open market for $2.8 million in 2020. No shares were repurchased on the open market during 2019. As of December 31, 2021, 546,283 shares remain available for repurchase. Additionally, we repurchase shares related to tax withholding requirements on vested restricted stock awards. Refer to Note 3 – Share-Based Compensation.

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644

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Accumulated Other Comprehensive Income Loss [Abstract]

Accumulated Other Comprehensive Income (Loss)

12 Months Ended

Dec. 31, 2021

Accumulated Other Comprehensive Income (Loss)

Note 16. Accumulated Other Comprehensive Income (Loss)

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


(in thousands)	Cumulative Foreign Currency Translation Adjustments			Unrecognized Net Actuarial Loss and Prior Service Credit, Net			Accumulated Other Comprehensive Income (Loss)
Balance at December 31, 2019	$	(23,799	)	$	(11,900	)	$	(35,699	)
Other comprehensive income (loss) before reclassifications		7,113			(27	)		7,086
Amounts reclassified from AOCI, net of tax		—			(2,028	)		(2,028	)
Net other comprehensive income (loss)		7,113			(2,055	)		5,058
Balance at December 31, 2020	$	(16,686	)	$	(13,955	)	$	(30,641	)
Other comprehensive income (loss) before reclassifications		524			30			554
Amounts reclassified from AOCI, net of tax		—			2,658			2,658
Net other comprehensive income (loss)		524			2,688			3,212
Balance at December 31, 2021	$	(16,162	)	$	(11,267	)	$	(27,429	)

Amounts reclassified that relate to our defined benefit pension and postretirement plans include the amortization of prior service costs and actuarial net losses recognized during each period presented. We recorded these costs as components of net periodic cost for each period presented. Refer to Note 18 – Pension and Postretirement Benefits for additional information.

Income Taxes

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Income Taxes

Note 17. Income Taxes

We record current income tax expense for the amounts that we expect to report and pay on our income tax returns and deferred income tax expense for the change in the deferred tax assets and liabilities. On December 22, 2017, the United States enacted the Tax Cuts and Jobs Act (the “Tax Act”) that significantly changed United States tax law. One part of this Tax Act required us to pay a deemed repatriation tax of $5.2 million on our cumulative foreign earnings and profit. After application of tax payments and credits, $1.0 million of the liability remains outstanding as of December 31, 2021 and is due in 2024.

Income from continuing operations before income taxes consisted of the following:


	Year Ended December 31,
(in thousands)	2021			2020			2019
Foreign	$	(17,750	)	$	(95,919	)	$	49,171
United States		(77,331	)		(264,940	)		(23,061	)
Income (loss) from continuing operations before income taxes	$	(95,081	)	$	(360,859	)	$	26,110

Significant components of the income tax provision from continuing operations are as follows:


	Year Ended December 31,
(in thousands)	2021			2020			2019
Current:
United States:
Federal	$	49		$	(128	)	$	(2,260	)
State		(581	)		674			1,400
Foreign		(7,268	)		(1,397	)		13,764
Total current		(7,800	)		(851	)		12,904
Deferred:
United States:
Federal		—			17,171			(3,355	)
State		—			2,896			(1,619	)
Foreign		6,012			(4,970	)		(5,424	)
Total deferred		6,012			15,097			(10,398	)
Income tax (benefit) expense	$	(1,788	)	$	14,246		$	2,506

We are subject to income tax in jurisdictions in which we operate. A reconciliation of the statutory federal income tax rate to the effective tax rate is as follows:


	Year Ended December 31,
(in thousands)	2021					2020					2019
Computed income tax (benefit) expense at statutory federal income tax rate	$	(19,967	)	21.0	%	$	(75,780	)	21.0	%	$	5,483		21.0	%
State income tax (benefit), net of federal benefit		(7,959	)	8.4	%		(4,138	)	1.1	%		(173	)	(0.2	)%
Remeasurement of deferred taxes due to change in tax rates		—		0.0	%		—		0.0	%		(4,517	)	(17.3	)%
Foreign tax rate differential		(672	)	0.7	%		(401	)	0.1	%		3,122		12.0	%
U.S. tax (benefit) on current year foreign earnings, net of foreign tax credits		—		0.0	%		—		0.0	%		(1,792	)	(6.9	)%
Goodwill impairment		—		0.0	%		16,471		(4.6	)%		—		0.0	%
Change in valuation allowance		21,859		(23.0	)%		77,369		(21.3	)%		920		1.8	%
Restructuring		4,676		(4.9	)%		(3,002	)	0.8	%		—		0.0	%
Other adjustments, net		275		(0.3	)%		3,727		(1.0	)%		(537	)	(0.8	)%
Income tax (benefit) expense	$	(1,788	)	1.9	%	$	14,246		(3.9	)%	$	2,506		9.6	%

The components of deferred income tax assets and liabilities included in the Consolidated Balance Sheets are as follows:


	December 31,
(in thousands)	2021			2020
Deferred tax assets:
Tax credit carryforwards	$	6,491		$	5,326
Pension, compensation, and other employee benefits		14,755			11,991
Provisions for losses		3,979			4,623
Net operating loss carryforwards		53,546			44,358
Leases		2,557			660
Goodwill and other intangible assets		17,781			18,055
Other deferred income tax assets		17,964			14,175
Total deferred tax assets		117,073			99,188
Valuation allowance		(103,510	)		(81,795	)
Foreign deferred tax assets included above		(5,037	)		(7,717	)
United States net deferred tax assets		8,526			9,676
Deferred tax liabilities:
Property and equipment		(24,100	)		(24,017	)
Goodwill and other intangible assets		(11,651	)		(8,846	)
Leases		(339	)		(857	)
Other deferred income tax liabilities		(4,254	)		(4,485	)
Total deferred tax liabilities		(40,344	)		(38,205	)
Foreign deferred tax liabilities included above		(31,778	)		(28,490	)
United States net deferred tax liabilities included above		(8,566	)		(9,715	)
United States net deferred tax liabilities	$	(40	)	$	(39	)

Our state income tax benefit in 2021 includes $4.0 million related to the true up of our state net operating losses on an entity-by-entity approach. In 2020 and at the beginning of 2021, we filed certain tax elections to restructure how our foreign UK operations are taxed in the United States to maximize future tax benefits and minimize future compliance complexity. These elections resulted in a $3.0 million benefit in 2020 and a $4.7 million expense in 2021. Both of these amounts were offset by a change in the valuation allowance.

We use significant judgment in forming conclusions regarding the recoverability of our deferred tax assets and evaluate all available positive and negative evidence to determine if it is more-likely-than-not that the deferred tax assets will be realized. To the extent recovery does not appear likely, a valuation allowance must be recorded. In determining the recoverability of our deferred assets, we considered our cumulative loss incurred over the four-year period ended December 31, 2021 in each tax jurisdiction. Given the weight of objectively verifiable historical losses from our operations, we recorded a valuation allowance on all deferred tax assets in the United States, United Kingdom, Germany, Switzerland, and our FlyOver operations in Iceland. We had gross deferred tax assets of $117.1 million as of December 31, 2021 and $99.2 million as of December 31, 2020.

The valuation allowance was $103.5 million as of December 31, 2021 and $81.8 million at December 31, 2020. The increase was primarily due to an increase for net operating losses, credit carryforwards, and deferred tax assets that do not meet the more likely-than-not threshold for recognition.

As of December 31, 2021, foreign tax credit carryforwards were $5.7 million, of which $3.8 million are foreign tax credits against United States income tax, which will begin to expire in 2022 and $1.9 million are creditable against United Kingdom taxes, which can be carried forward indefinitely. As of December 31, 2021, we had $0.7 million of United States research and development credit carryforwards.

We had gross federal, state, and foreign net operating loss carryforwards of $366.8 million as of December 31, 2021 and $371.2 million as of December 31, 2020. Certain state net operating loss carryforwards of $154.3 million expire from 2022 through 2040, although many states now have unlimited carryforwards. We recorded a valuation allowance on all net operating losses except losses generated in Canada, the Netherlands, Sky Lagoon in Iceland, and Poland. The Canadian gross net operating loss carryforwards of $13.8 million may be carried back three years and carried forward 20 years. The gross net operating losses of Iceland and Poland of $13.9 million will expire between five and ten years. The remaining amount of foreign gross net operating losses of $28.5 million may be carried forward indefinitely.

We have not recorded deferred taxes for withholding taxes on current unremitted earnings of our subsidiaries located in Canada, the United Kingdom, and the Netherlands as we expect to reinvest those earnings in operations outside of the United States.

We exercise judgment in determining the income tax provision for positions taken on prior returns when the ultimate tax determination is uncertain. We classify liabilities associated with uncertain tax positions as “Other deferred items and liabilities” in the Consolidated Balance Sheets unless expected to be paid or released within one year. We had liabilities associated with uncertain tax positions of $0.3 million as of both December 31, 2021 and December 31, 2020. As of December 31, 2021, these amounts do not include any accrual of interest nor penalties as none would be owed on these amounts. We elected that all uncertain tax positions, including interest and penalties, are classified as a component of income tax expense.

A reconciliation of the liabilities associated with uncertain tax positions (excluding interest and penalties) is as follows:


(in thousands)
Balance at December 31, 2018	$	370
Additions for tax positions taken in prior years		151
Reductions for lapse of applicable statutes		(296	)
Balance at December 31, 2019		225
Additions for tax positions taken in prior years		25
Balance at December 31, 2020		250
Additions for tax positions taken in prior years		285
Balance at December 31, 2021	$	535

Our 2018 through 2020 United States federal tax years and various state tax years from 2016 through 2020 remain subject to income tax examinations by tax authorities. The tax years 2017 through 2020 remain subject to examination by various foreign taxing jurisdictions.

We received net cash refunds from income taxes of $7.1 million during 2021 and $14.9 million during 2020 and paid cash for income taxes of $17.2 million during 2019.

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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Pension and Postretirement Benefits

Pension and Postretirement Benefits

12 Months Ended

Dec. 31, 2021

Retirement Benefits [Abstract]

Note 18. Pension and Postretirement Benefits

Domestic Plans

We have frozen defined benefit pension plans held in trust for certain employees which we funded. We also maintain 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.

We also have 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, we retained the obligations for these benefits for retirees of certain sold businesses. While the plans have no funding requirements, we may fund the plans.

The components of net periodic benefit cost and other amounts recognized in other comprehensive income (loss) of our pension plans consist of the following:


	December 31,
(in thousands)	2021			2020			2019
Net periodic benefit cost:
Service cost	$	—		$	—		$	61
Interest cost		419			653			861
Expected return on plan assets		(47	)		(145	)		(99	)
Recognized net actuarial loss		623			526			403
Net periodic benefit cost		995			1,034			1,226
Other changes in plan assets and benefit obligations recognized in other comprehensive income:
Net actuarial (gain) loss		(883	)		1,587			1,305
Reversal of amortization item:
Net actuarial loss		(623	)		(526	)		(403	)
Total recognized in other comprehensive income (loss)		(1,506	)		1,061			902
Total recognized in net periodic benefit cost and other comprehensive income (loss)	$	(511	)	$	2,095		$	2,128

The components of net periodic benefit cost and other amounts recognized in other comprehensive income (loss) of our postretirement benefit plans consist of the following:


	December 31,
(in thousands)	2021			2020			2019
Net periodic benefit cost:
Service cost	$	70		$	51		$	64
Interest cost		181			296			458
Amortization of prior service credit		(6	)		(146	)		(189	)
Recognized net actuarial loss		115			18			112
Net periodic benefit cost		360			219			445
Settlement income		(65	)		—			—
Total expenses		295			219			445
Other changes in plan assets and benefit obligations recognized in other comprehensive income (loss):
Net actuarial (gain) loss		(642	)		688			(1,117	)
Prior service credit		—			—			—
Reversal of amortization items:
Net actuarial loss		(115	)		(18	)		(112	)
Prior service credit		6			146			189
Settlement income		65			—			—
Total recognized in other comprehensive income		(686	)		816			(1,040	)
Total recognized in net periodic benefit cost and other comprehensive income (loss)	$	(391	)	$	1,035		$	(595	)

The following table indicates the funded status of the plans as of December 31:


													Postretirement
	Funded Plans						Unfunded Plans						Benefit Plans
(in thousands)	2021			2020			2021			2020			2021			2020
Change in benefit obligation:
Benefit obligation at beginning of year	$	16,331		$	15,572		$	9,776		$	9,462		$	12,219		$	11,986
Service cost		—			—			—			—			70			51
Interest cost		266			406			153			247			180			296
Actuarial adjustments		(385	)		1,242			(109	)		784			(641	)		688
Benefits paid		(1,021	)		(889	)		(650	)		(717	)		(1,694	)		(802	)
Benefit obligation at end of year		15,191			16,331			9,170			9,776			10,134			12,219
Change in plan assets:
Fair value of plan assets at beginning of year		11,878			11,291			—			—			—			—
Actual return on plan assets		436			584			—			—			—			—
Company contributions		354			892			650			717			1,694			802
Benefits paid		(1,021	)		(889	)		(650	)		(717	)		(1,694	)		(802	)
Fair value of plan assets at end of year		11,647			11,878			—			—			—			—
Funded status at end of year	$	(3,544	)	$	(4,453	)	$	(9,170	)	$	(9,776	)	$	(10,134	)	$	(12,219	)

The net amounts recognized in the Consolidated Balance Sheets under the captions “Pension and postretirement benefits” and “Other Current Liabilities” as of December 31 are as follows:


									Postretirement
	Funded Plans				Unfunded Plans				Benefit Plans
(in thousands)	2021		2020		2021		2020		2021		2020
Other current liabilities	$	—	$	—	$	701	$	687	$	755	$	931
Non-current liabilities		3,544		4,453		8,469		9,089		9,379		11,288
Net amount recognized	$	3,544	$	4,453	$	9,170	$	9,776	$	10,134	$	12,219

Amounts recognized in AOCI as of December 31 are as follows:


									Postretirement
	Funded Plans				Unfunded Plans				Benefit Plans				Total		Total
(in thousands)	2021		2020		2021		2020		2021		2020		2021		2020
Net actuarial loss	$	8,025	$	9,252	$	3,129	$	3,409	$	1,299	$	1,990	$	12,453	$	14,651
Prior service credit		—		—		—		—		195		189		195		189
Subtotal		8,025		9,252		3,129		3,409		1,494		2,179		12,648		14,840
Less tax effect		—		—		—		—		—		—		—		—
Total	$	8,025	$	9,252	$	3,129	$	3,409	$	1,494	$	2,179	$	12,648	$	14,840

The fair value of the domestic plans’ assets by asset class are as follows:


			Fair Value Measurements at December 31, 2021
			Quoted Prices in Active Markets		Significant Other Observable Inputs		Significant Unobservable Inputs
(in thousands)	Total		(Level 1)		(Level 2)		(Level 3)
Domestic pension plans:
Fixed income securities	$	5,935	$	5,935	$	—	$	—
Equity securities		5,297		5,297		—		—
Cash		230		230		—		—
Other		185		—		185		—
Total	$	11,647	$	11,462	$	185	$	—


			Fair Value Measurements at December 31, 2020
			Quoted Prices in Active Markets		Significant Other Observable Inputs		Significant Unobservable Inputs
(in thousands)	Total		(Level 1)		(Level 2)		(Level 3)
Domestic pension plans:
Fixed income securities	$	6,430	$	6,430	$	—	$	—
Equity securities		4,485		4,485		—		—
Cash		774		774		—		—
Other		189		—		189		—
Total	$	11,878	$	11,689	$	189	$	—

We employ 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 United States and non-United States 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.

We utilize 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 our 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:


(in thousands)	Funded Plans		Unfunded Plans		Postretirement Benefit Plans
2022	$	1,094	$	711	$	766
2023	$	1,036	$	694	$	763
2024	$	1,001	$	677	$	758
2025	$	1,068	$	659	$	732
2026	$	1,053	$	638	$	714
2027-2031	$	4,578	$	2,851	$	3,035

Foreign Pension Plans

Certain of our foreign operations also maintain defined benefit pension plans held in trust for 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 (loss) included the following:


	December 31,
(in thousands)	2021			2020			2019
Net periodic benefit cost:
Service cost	$	457		$	444		$	405
Interest cost		339			365			397
Expected return on plan assets		(508	)		(530	)		(487	)
Recognized net actuarial loss		171			162			127
Settlement		—			—			—
Net periodic benefit cost		459			441			442
Other changes in plan assets and benefit obligations recognized in other comprehensive income (loss):
Net actuarial (income) loss		(375	)		368			605
Reversal of amortization of net actuarial loss		(171	)		(162	)		(127	)
Total recognized in other comprehensive income (loss)		(546	)		206			478
Total recognized in net periodic benefit cost and other comprehensive income (loss)	$	(87	)	$	647		$	920

The following table represents the funded status of the plans as of December 31:


	Funded Plans						Unfunded Plans
(in thousands)	2021			2020			2021			2020
Change in benefit obligation:
Benefit obligation at beginning of year	$	10,916		$	9,990		$	2,449		$	2,331
Service cost		457			444			—			—
Interest cost		270			295			69			70
Actuarial adjustments		(475	)		686			208			111
Benefits paid		(462	)		(743	)		(185	)		(180	)
Translation adjustment		84			244			(71	)		117
Benefit obligation at end of year		10,790			10,916			2,470			2,449
Change in plan assets:
Fair value of plan assets at beginning of year		10,798			10,013			—			—
Actual return on plan assets		623			1,044			—			—
Company contributions		133			253			185			180
Benefits paid		(462	)		(743	)		(185	)		(180	)
Translation adjustment		79			231			—			—
Fair value of plan assets at end of year		11,171			10,798			—			—
Funded status at end of year	$	381		$	(118	)	$	(2,470	)	$	(2,449	)

The net amounts recognized in the Consolidated Balance Sheets under the captions “Pension and postretirement benefits” and “Other Current Liabilities” as of December 31 were as follows:


	Funded Plans						Unfunded Plans
(in thousands)	2021			2020			2021		2020
Non-current assets	$	(384	)	$	(31	)	$	—	$	—
Other current liabilities		—			—			181		187
Non-current liabilities		—			149			2,300		2,262
Net amount recognized	$	(384	)	$	118		$	2,481	$	2,449

Net actuarial losses for the foreign funded plans recognized in AOCI were $2.0 million ($1.4 million after-tax) as of December 31, 2021 and $2.7 million ($2.0 million after-tax) as of December 31, 2020. Net actuarial losses for the foreign unfunded plans recognized in AOCI were $1.0 million ($0.8 million after-tax) as of December 31, 2021 and $0.8 million ($0.6 million after-tax) as of December 31, 2020.

The fair value information related to the foreign pension plans’ assets is summarized in the following tables:


			Fair Value Measurements at Reporting Date Using
(in thousands)	December 31, 2021		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobserved Inputs (Level 3)
Assets:
Fixed income securities	$	6,534	$	6,534	$	—	$	—
Equity securities		4,439		4,439		—		—
Other		198		198		—		—
Total	$	11,171	$	11,171	$	—	$	—


			Fair Value Measurements at Reporting Date Using
(in thousands)	December 31, 2020		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobserved Inputs (Level 3)
Assets:
Fixed income securities	$	5,450	$	5,450	$	—	$	—
Equity securities		5,153		5,153		—		—
Other		195		195		—		—
Total	$	10,798	$	10,798	$	—	$	—

The following payments, which reflect expected future service, as appropriate, are expected to be paid:


(in thousands)	Funded Plans		Unfunded Plans
2022	$	1,872	$	182
2023	$	384	$	181
2024	$	384	$	181
2025	$	383	$	180
2026	$	381	$	179
2027-2031	$	1,922	$	875

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)	2021		2020		2021		2020
Projected benefit obligation	$	15,191	$	16,331	$	9,170	$	9,776
Accumulated benefit obligation	$	15,191	$	16,331	$	9,170	$	9,776
Fair value of plan assets	$	11,647	$	11,878	$	—	$	—


	Foreign Plans
	Funded Plans				Unfunded Plans
(in thousands)	2021		2020		2021		2020
Projected benefit obligation	$	10,790	$	10,916	$	2,470	$	2,449
Accumulated benefit obligation	$	10,150	$	10,447	$	2,470	$	2,449
Fair value of plan assets	$	11,171	$	10,798	$	—	$	—

Contributions

In aggregate for both the domestic and foreign plans, we anticipate contributing $0.9 million to the funded pension plans, $0.9 million to the unfunded pension plans, and $0.8 million to the postretirement benefit plans in 2022.

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
	2021			2020			2021			2020			2021			2020			2021			2020
Discount rate		2.76	%		2.38	%		2.74	%		2.35	%		2.85	%		2.47	%		2.80	%		2.34	%
Rate of compensation increase	N/A			N/A				3.00	%		3.00	%	N/A			N/A				2.35	%		2.35	%

Weighted-average assumptions used to determine net periodic benefit costs as of December 31 were as follows:


	Domestic Plans
	Funded Plans						Unfunded Plans						Postretirement Benefit Plans						Foreign Plans
	2021			2020			2021			2020			2021			2020			2021			2020
Discount rate		2.32	%		3.12	%		2.35	%		3.13	%		2.47	%		3.19	%		2.34	%		2.93	%
Expected return on plan assets		4.75	%		5.50	%	N/A			N/A				0.00	%		0.00	%		3.76	%		4.39	%
Rate of compensation increase	N/A			N/A				3.00	%		3.00	%	N/A			N/A				2.35	%		2.35	%

Multi-employer Plans

We contribute to various defined benefit pension plans under the terms of collective bargaining agreements that cover our union-represented employees. The financial risks of participating in these multi-employer pension plans generally include the fact that the unfunded obligations of the plan may be borne by solvent participating employers. In addition, if we were to discontinue participating in some of our multi-employer pension plans, we could be required to pay a withdrawal liability amount based on the underfunded status of the plan. During the year ended December 31, 2019, we finalized the terms of the new collective bargaining agreement with the Teamsters 727 union. The terms included a withdrawal from the underfunded Central States pension plan. Accordingly, for the year ended December 31, 2019, we recorded a charge of $15.5 million, which represents the estimated present value of future contributions we will be required to make to the plan as a result of this withdrawal and $0.2 million of other withdrawal costs. Currently, we do not anticipate triggering any withdrawal from any other multi-employer pension plan to which we currently contribute. We also contribute to defined contribution plans pursuant to collective bargaining agreements, which are generally not subject to the funding risks inherent in defined benefit pension plans. The overall level of contributions to our multi-employer plans may significantly vary from year to year based on the demand for union-represented labor to support our operations. We do not have any minimum contribution requirements for future periods pursuant to our collective bargaining agreements for individually significant multi-employer plans.

Our participation in multi-employer pension plans for 2021 is outlined in the following table. Unless otherwise noted, the most recent Pension Protection Act zone status available in 2021 and 2020 relates to the plan’s year end as of December 31, 2020 and 2019, respectively, and is based on information received from the plan. Among other factors, plans in the red zone are generally less than 65% funded, plans in the yellow zone are less than 80% funded, and plans in the green zone are at least 80% 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.		2021	2020		2021		2020		2019
Pension Fund:
Western Conference of Teamsters Pension Plan	91-6145047		1	Green	Green	No	$	2,571	$	2,898	$	6,754	No	Continuous
Chicago Regional Council of Carpenters Pension Fund	36-6130207		1	Green	Green	Yes		658		608		2,877	No	5/31/2024
IBEW Local Union No 357 Pension Plan A	88-6023284		1	Green	Green	No		628		843		1,074	No	Continuous
Southwest Carpenters Pension Trust	95-6042875		1	Green	Green	No		352		195		717	No	7/31/2023
Electrical Contractors Assoc. Chicago Local Union 134, IBEW Joint Pension Trust of Chicago Plan #2	51-6030753		2	Green	Green	No		306		509		1,651	No	Continuous
Southern California Local 831—Employer Pension Fund(1)	95-6376874		1	Green	Green	No		302		943		3,427	No	Continuous
Machinery Movers Riggers & Mach Erect Local 136 Supplemental Retirement Plan(1)	36-1416355		11	Yellow	Yellow	Yes		176		337		797	Yes	6/30/2024
New England Teamsters & Trucking Industry Pension	04-6372430		1	Red	Red	Yes		109		42		506	No	3/31/2022
Sign Pictorial & Display Industry Pension Plan(1)	94-6278490		1	Green	Green	No		76		92		768	No	Continuous
Central States, Southeast and Southwest Areas Pension Plan	36-6044243		1	Red	Red	Yes		12		7		872	No	3/31/2023
Southern California IBEW-NECA Pension Fund	95-6392774		1	Yellow	Yellow	Yes		7		89		799	Yes	Continuous
All other funds(2)								929		963		3,625
Total contributions to defined benefit plans								6,126		7,526		23,867
Total contributions to other plans								931		1,066		3,416
Total contributions to multi-employer plans							$	7,057	$	8,592	$	27,283

(1)

We contributed more than 5% of total plan contributions for the plan year detailed in the plans’ most recent Form 5500s.

(2)

Represents participation in 27 pension funds during 2021.

Other Employee Benefits

We match United States employee contributions to the 401(k) Plan with shares of our common stock held in treasury up to 100% of the first 3% of a participant’s salary plus 50% of the next 2%. The expense associated with our match was $2.2 million for 2021, $1.7 million for 2020, and $5.0 million for 2019. In April 2020, we suspended our 401(k) Plan employer match contributions, which were later reinstated in October 2020.

The entire disclosure for retirement benefits.

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Restructuring and Related Activities [Abstract]

Restructuring Charges

12 Months Ended

Dec. 31, 2021

Restructuring Charges

Note 19. Restructuring Charges

GES

As part of our efforts to drive efficiencies and simplify our business operations, we took certain restructuring actions designed to simplify and transform GES for greater profitability. In response to the COVID-19 pandemic in 2020, we accelerated our transformation and streamlining efforts at GES to significantly reduce costs and create a lower and more flexible cost structure focused on servicing our more profitable market segments. These initiatives resulted in restructuring charges related to the elimination of certain positions and continuing to reduce our facility footprint at GES, as well as charges related to the closure and liquidation of GES’ United Kingdom-based audio-visual services business. During the fourth quarter of 2020, we entered into an agreement with a third-party to outsource the management, cleaning, and storage of the aisle carpeting that we use at live events, which resulted in restructuring charges in 2021 when we vacated a facility. During 2019, we completed some strategic simplification actions, including a facility consolidation in Las Vegas and other restructuring actions. As a result, we recorded restructuring charges 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.

Other Restructurings

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

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


	GES						Other Restructurings
(in thousands)	Severance & Employee Benefits			Facilities			Severance & Employee Benefits			Total
Balance at December 31, 2018	$	2,039		$	200		$	12		$	2,251
Restructuring charges		6,071			1,817			492			8,380
Cash payments		(5,169	)		(752	)		(272	)		(6,193	)
Adjustment to liability		(6	)		74			7			75
Balance at December 31, 2019		2,935			1,339			239			4,513
Restructuring charges		6,563			5,784			1,093			13,440
Cash payments		(7,051	)		(2,573	)		(1,201	)		(10,825	)
Non-cash items(1)		—			(1,789	)		—			(1,789	)
Adjustment to liability		(7	)		5			(107	)		(109	)
Balance at December 31, 2020		2,440			2,766			24			5,230
Restructuring charges		1,829			4,107			130			6,066
Cash payments		(2,302	)		(3,506	)		(91	)		(5,899	)
Non-cash items(1)		—			(1,906	)		—			(1,906	)
Adjustment to liability		9			(28	)		(37	)		(56	)
Balance at December 31, 2021	$	1,976		$	1,433		$	26		$	3,435

(1)

Represents non-cash adjustments related to a write down of certain ROU assets as a result of vacating certain facilities prior to the lease term during the year ended December 31, 2021 and the closure and liquidation of GES’ United Kingdom-based audio-visual services business during the year ended December 31, 2020.

As of December 31, 2021, $1.5 million of the liabilities related to severance and employee benefits will remain unpaid by the end of 2022. The liabilities related to facilities primarily include non-lease expenses that will be paid over the remaining lease terms. Refer to Note 23 – Segment Information, for information regarding restructuring charges by segment.

Leases and Other

12 Months Ended

Dec. 31, 2021

Leases [Abstract]

Leases and Other

Note 20. Leases and Other

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


		December 31,
(in thousands)	Classification on the Consolidated Balance Sheet	2021		2020
Assets:
Operating lease assets	Operating lease ROU assets	$	95,915	$	82,739
Finance lease assets(1)	Property and equipment, net		61,022		23,366
Total lease assets		$	156,937	$	106,105

Liabilities:
Current:
Operating lease obligations	Operating lease obligations	$	12,451	$	15,697
Finance lease obligations	Current portion of debt and finance obligations		2,928		2,514
Noncurrent:
Operating lease obligations	Long-term operating lease obligations		93,406		70,150
Finance lease obligations(1)	Long-term debt and finance obligations		60,473		20,627
Total lease liabilities		$	169,258	$	108,988

(1)

The increase in finance lease assets and obligations is primarily due to the commencement of Pursuit’s Sky Lagoon attraction in Iceland during the first quarter of 2021, which has a 46-year lease term.

The components of lease expense consisted of the following:


	Year Ended December 31,
(in thousands)	2021		2020
Finance lease cost:
Amortization of ROU assets	$	4,280	$	3,662
Interest on lease liabilities		5,580		1,668
Operating lease cost		23,129		27,259
Short-term lease cost		1,444		701
Variable lease cost		4,372		5,672
Total lease cost, net	$	38,805	$	38,962

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


	Year Ended December 31,
(in thousands)	2021			2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	23,320		$	26,250
Operating cash flows from finance leases	$	3,926		$	1,948
Financing cash flows from finance leases	$	3,223		$	3,543
ROU assets obtained in exchange for lease obligations:
Operating leases	$	38,838		$	659
Finance leases	$	43,241		$	2,141



	December 31,
	2021			2020
Weighted-average remaining lease term (years):
Operating leases		8.54			8.39
Finance leases		34.95			13.97
Weighted-average discount rate:
Operating leases		6.86	%		6.93	%
Finance leases		9.06	%		7.99	%

As of December 31, 2021, the estimated future minimum lease payments under non-cancellable leases, excluding variable leases and variable non-lease components, are as follows:


(in thousands)	Operating Leases			Finance Leases			Total
2022	$	21,393		$	8,445		$	29,838
2023		18,880			7,926			26,806
2024		17,215			6,858			24,073
2025		15,715			6,179			21,894
2026		15,208			5,971			21,179
Thereafter		57,297			183,142			240,439
Total future lease payments		145,708			218,521			364,229
Less: Amount representing interest		(39,851	)		(155,120	)		(194,971	)
Present value of minimum lease payments		105,857			63,401			169,258
Current portion		12,451			2,928			15,379
Long-term portion	$	93,406		$	60,473		$	153,879

As of December 31, 2021, the estimated future minimum rental income under non-cancellable leases, which includes rental income from facilities that we own, are as follows:


(in thousands)
2022	$	1,295
2023		1,074
2024		850
2025		696
2026		535
Thereafter		924
Total minimum rents	$	5,374

Leases Not Yet Commenced

As of December 31, 2021, we had executed two facility leases for which we did not have control of the underlying assets. Accordingly, we did not record the lease liabilities and ROU assets on our Consolidated Balance Sheets. These leases are for two new FlyOver attractions in development, FlyOver Chicago and FlyOver Canada Toronto. We expect the lease commencement dates to begin in fiscal year 2022 with a lease term of 20 years for both leases.

Litigation, Claims, Contingencies, and Other

12 Months Ended

Dec. 31, 2021

Commitments and Contingencies Disclosure [Abstract]

Litigation, Claims, Contingencies, and Other

Note 21. Litigation, Claims, Contingencies, and Other

We are plaintiffs or defendants to various actions, proceedings, and pending claims, some of which involve, or may involve, compensatory, punitive, or other damages. Litigation is subject to many uncertainties and it is possible that some of the legal actions, proceedings, or claims could be decided against us. During the year ended December 31, 2019, we recorded an $8.5 million charge to resolve a legal dispute at GES involving a former industry contractor, which is included under “Legal settlement” in the Consolidated Statements of Operations. Other potential liabilities as of December 31, 2021 with respect to unresolved legal matters is not ascertainable, and we believe that any resulting liability, after taking into consideration amounts already provided for and insurance coverage, will not have a material effect on our business, financial position, or results of operations.

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

We are subject to various United States federal, state, and foreign laws and regulations governing the prevention of pollution and the protection of the environment in the jurisdictions in which we have or had operations. If we fail to comply with these environmental laws and regulations, civil and criminal penalties could be imposed, and we could become subject to regulatory enforcement actions in the form of injunctions and cease and desist orders. As is the case with many companies, we also face exposure to actual or potential claims and lawsuits involving environmental matters relating to our past operations. As of December 31, 2021, we had recorded environmental remediation liabilities of $2.2 million related to previously sold operations. Although we are a party to certain environmental disputes, we believe that any resulting liabilities, after taking into consideration amounts already provided for and insurance coverage, will not have a material effect on our financial position or results of operations.

As of December 31, 2021, on behalf of our subsidiaries, we had certain obligations under guarantees to third parties. These guarantees are not subject to liability recognition in the consolidated financial statements and relate to leased facilities and equipment leases entered into by our subsidiary operations. We would generally be required to make payments to the respective third parties under these guarantees in the event that the related subsidiary could not meet its own payment obligations. The maximum potential amount of future payments that we would be required to make under all guarantees existing as of December 31, 2021 would be $101.8 million. These guarantees relate to our leased equipment and facilities through January 2040. There are no recourse provisions that would enable us to recover from third parties any payments made under the guarantees. Furthermore, there are no collateral or similar arrangements pursuant to which we could recover payments.

A significant number of our employees are unionized and we are a party to approximately 100 collective bargaining agreements, with approximately one-third requiring renegotiation each year. If we are unable to reach an agreement with a union during the collective bargaining process, the union may call for a strike or work stoppage, which may, under certain circumstances, adversely impact our business and results of operations. We believe that relations with our employees are satisfactory and that collective bargaining agreements expiring in 2022 will be renegotiated in the ordinary course of business. Although our labor relations are currently stable, disruptions could occur, with the possibility of an adverse impact on the operating results of GES. During 2019, we finalized the terms of a new collective bargaining agreement with the Teamsters Local 727 union. The terms included a withdrawal from the underfunded Central States Pension Plan. Accordingly, during 2019 we recorded a charge of $15.5 million, which represents the estimated present

value of future contributions we will be required to make to the plan as a result of this withdrawal. Refer to Note 18 – Pension and Postretirement Benefits for additional information on specific union-related pension issues.

We are self-insured up to certain limits for workers’ compensation and general liabilities, which includes automobile, product general liability, and client property loss claims. The aggregate amount of insurance liabilities (up to our retention limit) related to our continuing operations was $9.9 million as of December 31, 2021, which includes $6.2 million related to workers’ compensation liabilities, and $3.7 million related to general liability claims. We have also retained and provided for certain workers’ compensation insurance liabilities in conjunction with previously sold businesses of $1.8 million as of December 31, 2021. We are also self-insured for certain employee health benefits and the estimated employee health benefit claims incurred but not yet reported was $1.2 million as of December 31, 2021. Provisions for losses for claims incurred, including actuarially derived estimated claims incurred but not yet reported, are made based on our historical experience, claims frequency, and other factors. A change in the assumptions used could result in an adjustment to recorded liabilities. We have purchased insurance for amounts in excess of the self-insured levels, which generally range from $0.2 million to $0.5 million on a per claim basis. We do not maintain a self-insured retention pool fund as claims are paid from current cash resources at the time of settlement. Our net cash payments in connection with these insurance liabilities were $2.8 million for 2021, $5.0 million for 2020, and $6.9 million for 2019.

In addition, as of December 31, 2021, we have recorded insurance liabilities of $6.8 million related to continuing operations, which represents the amount for which we remain the primary obligor after self-insured insurance limits, without taking into consideration the above-referenced insurance coverage. Of this total $6.7 million is related to workers’ compensation liabilities and $0.1 million related to general/auto liability claims, which is recorded in “Other deferred items and liabilities” in the Consolidated Balance Sheets with a corresponding receivable in “Other investments and assets.”

Redeemable Noncontrolling Interest

12 Months Ended

Dec. 31, 2021

Noncontrolling Interest [Abstract]

Redeemable Noncontrolling Interest

Note 22. Noncontrolling Interests – Redeemable and Non-redeemable

Redeemable noncontrolling interest

On November 3, 2017, we acquired the controlling interest (54.5% of the common stock) in Esja, a private corporation in Reykjavik, Iceland. Subsequent to additional capital contributions, our equity ownership increased to 56.4% as of December 31, 2021. Through Esja and its wholly-owned subsidiary, we are operating the FlyOver Iceland attraction.

The minority Esja shareholders have the right to sell (or “put”) their Esja shares to us based on a multiple of 5.0x EBITDA as calculated on the trailing 12 months from the most recently completed quarter before the put option exercise. The put option is only exercisable after 36 months of business operation, which will be August 2022 (the “Reference Date”), and if the FlyOver Iceland attraction has earned a minimum of €3.25 million in unadjusted EBITDA during the most recent fiscal year and during the trailing 12-month period prior to exercise (the “Put Option Condition”). The put option is exercisable during a period of 12 months following the Reference Date (the “Option Period”) if the Put Option Condition has been met. If the Put Option Condition has not been met during the first Option Period, the Reference Date will be extended for an additional 12 months up to three times. If after 72 months, the FlyOver Iceland attraction has not achieved the Put Option Condition, the put option expires. If the Put Option Condition is met during any of the Option Periods, yet the shares are not exercised prior to the end of the 12-month Option Period, the put option will expire.

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

Changes in the redeemable noncontrolling interest are as follows:


(in thousands)
Balance at December 31, 2019	$	6,172
Net loss attributable to redeemable noncontrolling interest		(1,482	)
Adjustment to the redemption value		926
Foreign currency translation adjustment		(391	)
Balance at December 31, 2020		5,225
Net loss attributable to redeemable noncontrolling interest		(1,766	)
Adjustment to the redemption value		1,797
Capital contributions		341
Foreign currency translation adjustment		(153	)
Balance at December 31, 2021	$	5,444

Non-redeemable noncontrolling interest

Non-redeemable noncontrolling interest represents the portion of equity in a subsidiary that is not attributable, directly or indirectly, to us. Our non-redeemable noncontrolling interest relates to the equity ownership interest that we do not own.

Changes in the non-redeemable noncontrolling interest are as follows:


(in thousands)	Glacier Park Inc.			Brewster (1)			Sky Lagoon			Total
Balance at December 31, 2019	$	15,042		$	52,006		$	12,683		$	79,731
Net loss attributable to non-redeemable noncontrolling interest		(1,091	)		(48	)		(237	)		(1,376	)
Acquisitions		—			—			—			—
Distributions to non-controlling interests		—			(1,526	)		—			(1,526	)
Foreign currency translation adjustments		2			863			450			1,315
Balance at December 31, 2020	$	13,953		$	51,295		$	12,896		$	78,144
Net income (loss) attributable to non-redeemable noncontrolling interest		1,360			1,399			(1,073	)		1,686
Acquisitions		—			6,759			—			6,759
Distributions to non-controlling interests		—			(1,160	)		—			(1,160	)
Foreign currency translation adjustments		2			308			(183	)		127
Balance at December 31, 2021	$	15,315		$	58,601		$	11,640		$	85,556
Equity ownership interest that we do not own		20	%		40	%		49	%

(1)

Includes Mountain Park Lodges and our recently acquired Golden Skybridge at Brewster, part of the Banff Jasper Collection.

Segment Information

12 Months Ended

Dec. 31, 2021

Segment Reporting [Abstract]

Segment Information

Note 23. Segment Information

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

An operating segment is defined as a component of an enterprise that engages in business activities for which discrete financial information is available and regularly reviewed by the CODM in deciding how to allocate resources and assess performance. Our CODM is our Chief Executive Officer.

During the first quarter of 2021, we changed our segment reporting as a result of operational changes and how our CODM reviews the financial performance of GES and makes decisions regarding the allocation of resources. Accordingly, GES is now a single operating and reportable segment. We made no changes to the Pursuit reportable segment.

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


	Year Ended December 31,
(in thousands)	2021			2020			2019
Revenue:
Pursuit	$	187,048		$	76,810		$	222,813
GES		320,292			338,625			1,079,923
Total revenue	$	507,340		$	415,435		$	1,302,736
Segment operating income (loss):
Pursuit	$	4,609		$	(42,343	)	$	54,310
GES		(51,611	)		(73,897	)		35,933
Segment operating income (loss)		(47,002	)		(116,240	)		90,243
Corporate eliminations (1)		70			65			67
Corporate activities		(11,689	)		(8,687	)		(10,865	)
Interest income		116			377			369
Interest expense		(28,440	)		(18,264	)		(14,199	)
Multi-employer pension plan withdrawal		(57	)		(462	)		(15,693	)
Other expense, net		(2,013	)		(1,132	)		(1,586	)
Restructuring charges:
Pursuit		(85	)		(132	)		(52	)
GES		(5,936	)		(12,347	)		(7,888	)
Corporate		(45	)		(961	)		(440	)
Impairment charges:
Pursuit		—			(1,758	)		—
GES		—			(201,318	)		(5,346	)
Legal settlement:
GES		—			—			(8,500	)
Income (loss) from continuing operations before income taxes	$	(95,081	)	$	(360,859	)	$	26,110

(1)

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


	December 31,
(in thousands)	2021		2020		2019
Assets:
Pursuit	$	725,946	$	620,413	$	589,205
GES		242,146		184,806		608,254
Corporate and other		69,538		48,005		121,232
	$	1,037,630	$	853,224	$	1,318,691
Depreciation and amortization:
Pursuit	$	32,469	$	28,393	$	23,154
GES		21,247		28,075		35,581
Corporate and other		34		97		229
	$	53,750	$	56,565	$	58,964
Capital expenditures:
Pursuit	$	54,325	$	43,176	$	49,934
GES		3,135		10,391		26,197
Corporate and other		476		—		16
	$	57,936	$	53,567	$	76,147

Geographic Areas

Our foreign operations are primarily in Canada, the United Kingdom, Iceland, the Netherlands, Germany, and to a lesser extent, in certain other countries. GES revenue is 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:


	December 31,
(in thousands)	2021		2020		2019
Revenue:
United States	$	312,265	$	290,541	$	873,213
EMEA		96,603		56,656		218,404
Canada		98,472		68,238		211,119
Total revenue	$	507,340	$	415,435	$	1,302,736
Long-lived assets:
United States	$	179,756	$	173,790	$	205,399
EMEA		91,877		56,996		63,582
Canada		294,193		276,860		277,039
Total long-lived assets	$	565,826	$	507,646	$	546,020

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

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SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]

Subsequent Events

12 Months Ended

Dec. 31, 2021

Subsequent Events [Abstract]

Subsequent Events

Note 24. Subsequent Event

On February 24, 2022, we announced the expansion of our fourth FlyOver attraction into Chicago, Illinois. It will be located near the front entrance of Chicago’s Navy Pier. We expect to open FlyOver Chicago during late 2023.

Schedule II - Valuation And Qualifying Accounts

12 Months Ended

Dec. 31, 2021

Schedule II - Valuation and Qualifying Accounts

VIAD CORP

SCHEDULE II – VALUATION AND QUALIFYING ACCOUNTS


			Additions					Deductions
(in thousands)	Balance at Beginning of Year		Charged to Expense(1)			Charged to Other Accounts		Write-Offs			Other(2)			Balance at End of Year
Allowances for doubtful accounts:
December 31, 2019		1,288		1,050			45		(1,182	)		(1	)		1,200
December 31, 2020		1,200		6,712			17		(2,628	)		9			5,310
December 31, 2021		5,310		(2,700	)		1		(680	)		(123	)		1,808
Deferred tax valuation allowance:
December 31, 2019		3,356		884			—		—			36			4,276
December 31, 2020		4,276		77,369			—		—			150			81,795
December 31, 2021		81,795		21,859			—		—			(144	)		103,510

(1)

Includes bad debt recoveries.

(2)

“Other” primarily includes foreign exchange translation adjustments.

Overview and Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2021

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Basis of Presentation and Principles of Consolidation

The accompanying consolidated financial statements were prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and include the accounts of Viad and its subsidiaries. We have eliminated all significant intercompany account balances and transactions in consolidation.

Nature of Business

We are a leading global provider of extraordinary experiences, including hospitality and leisure activities, experiential marketing, and live events. We operate through two reportable business segments: Pursuit and GES:

Pursuit

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

GES

GES is a global, full-service provider for live, hybrid, and digital events that partners with brand marketers, exhibitors, and show organizers to create high-value events and experiences. GES offers a comprehensive range of event services, from the design and production of compelling, immersive live and digital experiences that engage audiences and build brand awareness, through to logistics, including material handling, rigging, electrical, and other on-site event services. In addition, GES offers clients a full suite of audio-visual services from creative and technology to content and design, along with registration, data analytics, engagement, and online tools powered by next generation technologies that help clients easily manage the complexities of their event.

Impact of COVID-19

Starting in mid-March 2020, the COVID-19 pandemic had a significant and negative impact on our operations and financial performance, with severe disruptions in live event and tourism activity. In response, we implemented aggressive cost reduction measures to preserve cash, including furloughs, layoffs, mandatory unpaid time off or salary reductions for all employees, and the reduction of discretionary spending. We also accelerated our transformation and streamlining efforts at GES to significantly reduce costs and create a lower and more flexible cost structure focused on servicing GES’ more profitable market segments. In 2020, GES exited 21 leased facilities across its warehouse and office network and sold its San Diego area production warehouse. We also suspended future common stock dividend payments and share repurchases, and we availed ourselves of governmental assistance programs for wages and other expense relief. Additionally, in May and August 2020, we obtained waivers of the financial covenants under our then $450 million revolving credit facility (“the 2018 Credit Facility”), which we subsequently refinanced in July 2021 as discussed below, and we secured additional capital to strengthen our liquidity position by entering into an investment agreement with funds managed by private equity firm Crestview Partners who made an investment of $135 million, offset in part by $9.2 million in fees, in newly issued perpetual convertible preferred stock. Refer to Note 15 – Common and Preferred Stock for further information.

During 2021, we continued to preserve cash and closely managed our costs as pandemic-related restrictions slowly eased. GES continued to reduce costs as part of its transformation and streamlining efforts. In 2021, GES sold its Orlando area production warehouse. GES continues to evaluate its physical presence and look for additional opportunities to improve its cost structure. In connection with the COVID-19 vaccination programs, we began to see signs of recovery in the travel and hospitality and live event sectors in mid-2021 as people started to feel more comfortable traveling and gathering in larger groups. Pursuit’s operations in the United States experienced strong visitation primarily from domestic travelers, while tourism in Canada and Iceland remained constrained by border closures and travel restrictions. Canada reopened its border with the United States in early August 2021 to fully vaccinated travelers and to travelers from other countries beginning in September 2021, which accelerated short-term bookings from travelers to our Pursuit operations in Canada. The live event markets also began to re-open in 2021 with smaller scale live events starting to take place during the first half of the year. During the second half of 2021, we began to see an acceleration in the recovery of in-person trade shows as event organizers began to schedule larger-scale face-to-face live events. However, as variants of COVID-19, including the predominant Delta and Omicron variants, became more widespread, we saw some cancellations of smaller events during the fourth quarter of 2021. For larger-scale in-person events that took place, the overall attendance was lower than pre-pandemic levels.

Effective July 30, 2021, we refinanced our 2018 Credit Facility, which was scheduled to mature on October 24, 2023, with a new $500 million senior secured credit facility (the “2021 Credit Facility”). The 2021 Credit Facility provides for a $400 million term loan

with a maturity date of July 30, 2028 (“Term Loan B”) and a $100 million revolving credit facility with a maturity date of July 30, 2026. The $400 million in Term Loan B proceeds were offset in part by $14.8 million in related fees. The proceeds from the Term Loan B were used to repay the $327 million outstanding balance under the 2018 Credit Facility. The $100 million revolving credit facility and the remaining proceeds from the Term Loan B will be used to provide for financial flexibility to fund future acquisitions and growth initiatives and for general corporate purposes. Refer to Note 12 – Debt and Finance Obligations for further information.

Due to the evolving and uncertain nature of COVID-19, and depending on the success of ongoing vaccination and other mitigation efforts as well as the scope and magnitude of infections and hospitalizations, we are not able at this time to fully estimate the effect of these factors on our business; however, the adverse impact on our business, results of operations, and cash flows has been significant. We will continue to evaluate and implement additional actions necessary to mitigate the negative financial and operational impact of COVID-19 on our business.

Reclassifications

During the first quarter of 2021, we changed our segment reporting as a result of operational changes and how our chief operating decision maker (“CODM”) reviews the financial performance of GES and makes decisions regarding the allocation of resources. As a result, we changed the presentation of certain items in GES’ disaggregation of revenue and reportable segments. Refer to Note 2 – Revenue and Related Contract Costs and Contract Liabilities and Note 23 – Segment Information for additional information. We reclassified certain prior-year amounts to conform to current-period presentation. Such reclassifications had no impact on our results of operations or cash flows.

Use of Estimates

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

Cash, Cash Equivalents, and Restricted Cash

Cash equivalents are highly-liquid investments with remaining maturities when purchased of three months or less. Cash and cash equivalents consist of cash and bank demand deposits and money market funds. Investments in money market funds are classified as available-for-sale and carried at fair value. Restricted cash represents collateral required for surety bonds, bank guarantees, and letters of credit.

Cash, cash equivalents, and restricted cash balances presented in the Consolidated Statements of Cash Flows consisted of the following:


	December 31,
(in thousands)	2021		2020
Cash and cash equivalents	$	61,600	$	39,545
Restricted cash included in other current assets		2,703		2,426
Cash, cash equivalents, and restricted cash shown in the statement of cash flows	$	64,303	$	41,971

Allowances for Doubtful Accounts

Allowances for doubtful accounts reflect the best estimate of probable losses inherent in the accounts receivable balance. The allowances for doubtful accounts, including a sales allowance for discounts at the time of sale, are based upon an evaluation of the aging of receivables, historical trends, and the current economic environment.

Inventories

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

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.

Leases

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

Our operating and finance leases are primarily facility, equipment, and land leases. Our facility leases comprise mainly manufacturing facilities, sales and design facilities, offices, storage and/or warehouses, and truck marshaling yards for our GES business. These facility leases generally have lease terms ranging up to 24 years. Our equipment leases comprise mainly vehicles, hardware, and office equipment, each with various lease terms. Our land leases comprise mainly leases in Canada and Iceland on which our Pursuit hotels or attractions are located and have lease terms ranging up to 46 years.

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

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

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

Goodwill

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

Self-Insurance Liabilities

We are self-insured up to certain limits for workers’ compensation and general liabilities, which includes automobile, product general liability, and client property loss claims. We have also retained and provided for certain workers’ compensation insurance liabilities in conjunction with previously sold operations. We are also self-insured for certain employee health benefits. Provisions for losses for claims incurred, including actuarially derived estimated claims incurred but not yet reported, are made based on historical experience, claims frequency, and other factors. We have purchased insurance for amounts in excess of the self-insured levels.

Environmental Remediation Liabilities

Environmental remediation liabilities represent 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. Environmental insurance is maintained that provides coverage for new and undiscovered pre-existing conditions at both our continuing and discontinued operations.

Fair Value of Financial Instruments

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

Convertible Preferred Stock

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

Noncontrolling Interests - Non-redeemable and Redeemable

Noncontrolling Interests – Non-redeemable and Redeemable

Non-redeemable noncontrolling interest represents the portion of equity in a subsidiary that is not attributable, directly or indirectly, to us. We report non-redeemable noncontrolling interest within stockholders’ equity in the Consolidated Balance Sheets. The amount of consolidated net income or loss attributable to Viad and the non-redeemable noncontrolling interest is presented in the Consolidated Statements of Operations.

We consider noncontrolling interests with redemption features that are not solely within our control to be redeemable noncontrolling interests. Our redeemable noncontrolling interest relates to our 56.4% equity ownership interest in Esja Attractions ehf. (“Esja”), which owns the FlyOver Iceland attraction. The Esja shareholders agreement contains a put option that gives the minority Esja shareholders the right to sell (or “put”) their Esja shares to us based on a calculated formula within a predefined term. This redeemable noncontrolling interest is considered mezzanine equity and we report it between liabilities and stockholders’ equity in the Consolidated Balance Sheets. The amount of the net income or loss attributable to redeemable noncontrolling interests is recorded in the Consolidated Statements of Operations and the accretion of the redemption value is recorded as an adjustment to retained earnings (deficit) and is included in our income (loss) per share. Refer to Note 22 – Noncontrolling Interests – Redeemable and Non-redeemable for additional information.

Foreign Currency Translation

Our foreign operations are primarily in Canada, the United Kingdom, Iceland, the Netherlands, Germany, and to a lesser extent, in certain other countries. The functional currency of our foreign subsidiaries is their local currency. Accordingly, for purposes of consolidation, we translate the assets and liabilities of our 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 (loss) in the Consolidated Balance Sheets. We also have certain loans in currencies other than the entity’s functional currency, which results in gains or losses as exchange rates fluctuate. For purposes of consolidation, revenue, expenses, gains, and losses related to our foreign operations are translated into U.S. dollars at the average foreign exchange rates for the period.

Revenue Recognition

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

GES’ service revenue is primarily derived through its comprehensive range of marketing, event production, and other related services to event organizers and corporate brand marketers. GES’ service revenue is earned over time over the duration of the live event, which generally lasts one to three days. Revenue for goods and services provided for which we do not have control of the goods or services before that good or service is transferred to a customer is recorded on a net basis to reflect only the fees received for arranging these services. GES’ product revenue is derived from the build of exhibits and environments and graphics. GES’ product revenue is recognized at a point in time upon delivery of the product.

Pursuit’s service revenue is derived through its admissions, accommodations, transportation, and travel planning services. Pursuit’s product revenue is derived through food and beverage and retail sales. Pursuit’s revenue is recognized at the time services are performed

or upon delivery of the product. Pursuit’s service revenue is recognized over time as the customer simultaneously receives and consumes the benefits. Pursuit’s product revenue is recognized at a point in time.

Share-Based Compensation

Share-based compensation costs related to all share-based payment awards are recognized and measured using the fair value method of accounting. These awards generally include restricted stock awards, restricted stock units, performance-based restricted stock units (“PRSUs”), and stock options, and contain forfeiture and non-compete provisions. We issue share-based payment awards from shares held in treasury. Future vesting is generally subject to continued employment. Holders of share-based awards 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 and in accordance with our stock trading policy.

We account for share-based payment awards that will be settled in cash as liability-based awards, which includes PRSUs and restricted stock units. We measure share-based compensation expense of liability-based awards at fair value at each reporting date until the date of settlement based on the number of units expected to vest and, where applicable, the level of achievement of predefined performance goals. These awards are remeasured on each reporting date based on our stock price and the Monte Carlo simulation model. A Monte Carlo simulation requires the use of several assumptions, including historical volatility and correlation between our stock price and the price of the common shares of a comparator group, a risk-free rate of return, and an expected term. Share-based compensation expense related to liability-based awards is recognized ratably over the requisite service period of approximately three years.

We account for share-based awards that will be settled in shares of our common stock as equity-based awards, which include PRSUs, restricted stock units, and restricted stock awards. We measure share-based compensation expense of equity-based awards at fair value on the grant date on a straight-line basis over the vesting period. The estimated number of shares to be achieved is updated each reporting period based on the number of units expected to vest and, where applicable, the level of achievement of predefined performance goals, until the date of settlement. Share-based compensation expense related to equity-based awards is recognized ratably over the requisite service period ranging from one to three years.

The fair value of stock option grants is estimated on the date of grant using the Black-Scholes stock option pricing model. We grant non-qualified stock options that are performance-based and service-based. The performance-based awards are recognized on a straight-line basis over the performance period ranging up to 3.4 years, and the underlying shares expected to be settled are adjusted each reporting period based on estimated future achievement of the respective performance metrics. The service-based awards are recognized on a straight-line basis over the requisite service period on a graded-vesting schedule ranging from one to three years. The exercise price of stock options is based on the market value of our 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

Income (Loss) Per Common Share

Diluted income (loss) per common share is calculated using the more dilutive of the two-class method or as-converted method. The two-class method uses net income (loss) available to common stockholders and assumes conversion of all potential shares other than the participating securities. The as-converted method uses net income (loss) available to common shareholders and assumes conversion of all potential shares including the participating securities. Dilutive potential common shares include outstanding stock options, unvested restricted share units and convertible preferred stock. We apply the two-class method in calculating income (loss) per common share as unvested share-based payment awards that contain nonforfeitable rights to dividends and preferred stock are considered participating securities. Accordingly, such securities are included in the earnings allocation in calculating income (loss) per share. The adjustment to the carrying value of the redeemable noncontrolling interest is reflected in income (loss) per common share.

Impact of Recent Accounting Pronouncements

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


Standard	Description	Date of adoption	Effect on the financial statements
Standards Not Yet Adopted
ASU 2020-06, Debt - Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging - Contracts in Entity’s Own Equity (Subtopic 815-40)	The amendment simplifies the accounting for convertible instruments by reducing the number of accounting models available for convertible debt instruments and convertible preferred stock. The amendment also requires expanded disclosures about the terms and features of convertible instruments.	1/1/2022	We do not expect this new guidance will have a material impact on our consolidated financial statements.
2021-08, Business Combinations (Topic 805) Accounting for Contract Assets and Contract Liabilities from Contracts with Customers	Amendment relates to the application of Topic 805, Business Combinations, to contracts with a customer acquired in a business combination after the acquirer has adopted Topic 606. ASU 2021-08 requires contract assets and contract liabilities to be accounted for as if they (the acquirer) entered into the original contract at the same time and same date as the acquiree.	1/1/2023	We are currently evaluating the potential impact of the adoption of this new guidance on our consolidated financial statements. We do not expect this new guidance will have a material impact on our consolidated financial statements.
ASU 2021-10, Government Assistance (Topic 832) Disclosures by Business Entities about Government Assistance	Amendment improves the transparency of government assistance received by most business entities by requiring the disclosure of: (1) the types of government assistance received; (2) the accounting for such assistance; and (3) the effect of the assistance on a business entity’s financial statements.	12/31/2022	We are currently evaluating the potential impact of the adoption of this new guidance on our consolidated financial statements. We do not expect this new guidance will have a material impact on our consolidated financial statements.


Standard	Description	Date of adoption	Effect on the financial statements
Standards Recently Adopted
ASU 2019-12, Income Taxes (Topic 740) Simplifying the Accounting for Income Taxes	The amendment enhances and simplifies various aspects of the income tax accounting guidance, including requirements such as ownership changes in investments, and interim-period accounting for enacted changes in tax law.	1/1/2021	The adoption of this new standard on January 1, 2021 did not have a material impact on our consolidated financial statements.

Overview and Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2021

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Cash and Cash Equivalents and Restricted Cash Balances

Cash, cash equivalents, and restricted cash balances presented in the Consolidated Statements of Cash Flows consisted of the following:


	December 31,
(in thousands)	2021		2020
Cash and cash equivalents	$	61,600	$	39,545
Restricted cash included in other current assets		2,703		2,426
Cash, cash equivalents, and restricted cash shown in the statement of cash flows	$	64,303	$	41,971

Revenue and Related Contract Costs and Contract Liabilities (Tables)

12 Months Ended

Dec. 31, 2021

Revenue from Contract with Customer [Abstract]

Summary of Changes in Contract Liabilities

Changes to contract liabilities are as follows:


(in thousands)
Balance at January 1, 2019	$	50,796
Cash additions		154,057
Revenue recognized		(186,518	)
Foreign exchange translation adjustment		283
Balance at December 31, 2020		18,618
Cash additions		147,814
Revenue recognized		(126,573	)
Foreign exchange translation adjustment		(197	)
Balance at December 31, 2021	$	39,662

Summary of Changes in Contract Costs

Changes to contract costs are as follows:


(in thousands)
Balance at January 1, 2019	$	28,496
Additions		19,517
Expenses		(25,381	)
Cancelled		(11,482	)
Foreign exchange translation adjustment		(315	)
Balance at December 31, 2020		10,835
Additions		31,923
Expenses		(27,935	)
Cancelled		(976	)
Foreign exchange translation adjustment		(57	)
Balance at December 31, 2021	$	13,790

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

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

Pursuit


	Year Ended December 31,
(in thousands)	2021			2020			2019
Services:
Admissions	$	61,166		$	19,939		$	85,371
Accommodations		61,156			29,800			60,672
Transportation		5,591			2,694			14,594
Travel planning and other		5,638			467			5,979
Intersegment eliminations		(627	)		(317	)		(1,686	)
Total services revenue		132,924			52,583			164,930
Products:
Food and beverage		28,953			10,295			31,838
Retail operations		25,171			13,932			26,045
Total products revenue		54,124			24,227			57,883
Total revenue	$	187,048		$	76,810		$	222,813

Timing of revenue recognition:
Services transferred over time	$	132,924		$	52,583		$	164,930
Products transferred at a point in time		54,124			24,227			57,883
Total revenue	$	187,048		$	76,810		$	222,813

Markets:
Banff Jasper Collection	$	82,728		$	46,913		$	133,229
Alaska Collection		37,344			6,282			39,406
Glacier Park Collection		45,276			17,596			37,121
FlyOver		10,693			6,019			13,057
Sky Lagoon(1)		11,007			—			—
Total revenue	$	187,048		$	76,810		$	222,813

(1)

We opened Pursuit’s Sky Lagoon attraction in Reykjavik, Iceland on April 30, 2021.

GES

During the first quarter of 2021, we changed GES’ presentation of certain items in the following disaggregation of revenue table to depict how the nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factors. All prior periods have been reclassified to conform to this new reporting structure.


	Year Ended December 31,
(in thousands)	2021			2020			2019
Service lines:
Exhibitions and Conferences	$	200,846		$	228,033		$	692,128
Brand experiences		105,872			97,654			328,085
Venue services		13,574			12,938			59,710
Total revenue	$	320,292		$	338,625		$	1,079,923

Timing of revenue recognition:
Services transferred over time	$	268,218		$	298,945		$	936,604
Products transferred over time(1)		18,551			15,517			61,668
Products transferred at a point in time		33,523			24,163			81,651
Total revenue	$	320,292		$	338,625		$	1,079,923

Geographical markets:
North America	$	243,983		$	288,921		$	884,105
EMEA		82,242			53,384			216,559
Intersegment eliminations		(5,933	)		(3,680	)		(20,741	)
Total revenue	$	320,292		$	338,625		$	1,079,923

(1)

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

Share-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2021

Share-based Payment Arrangement [Abstract]

Summary of Share-Based Compensation (income) expense

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


	Year Ended December 31,
(in thousands)	2021			2020			2019
Performance-based restricted stock units	$	549		$	(2,187	)	$	3,990
Restricted stock awards and restricted stock units		5,451			4,523			3,200
Stock options		1,727			317			—
Share-based compensation expense before income tax		7,727			2,653			7,190
Income tax benefit(1)		(82	)		—			(2,241	)
Share-based compensation expense, net of income tax	$	7,645		$	2,653		$	4,949

(1)

The 2021 income tax benefit amount primarily reflects the tax benefit associated with our Canadian-based employees. There was no income tax benefit in 2020 associated with our employees in the United States and the United Kingdom due to a valuation allowance on our deferred tax assets within these jurisdictions. Refer to Note 17 – Income Taxes.

Summary of Activity of the Outstanding PUP Awards

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


	Equity-Based PRSUs					Liability-Based PRSUs
	Shares			Weighted-Average Grant Date Fair Value		Shares			Weighted-Average Grant Date Fair Value
Balance at December 31, 2020		61,208		$	57.18		121,485		$	56.34
Granted		101,785		$	31.28		—		$	—
Vested		—		$	—		(42,698	)	$	51.96
Forfeited		(28,841	)	$	58.25		(1,041	)	$	56.90
Balance at December 31, 2021		134,152		$	37.30		77,746		$	57.13

Summary of Activity of the Outstanding Restricted Stock Awards And Restricted Stock Units

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


	Equity-Based Restricted Stock Awards					Equity-Based Restricted Stock Units					Liability-Based Restricted Stock Units
	Shares			Weighted-Average Grant Date Fair Value		Shares			Weighted-Average Grant Date Fair Value		Shares			Weighted-Average Grant Date Fair Value
Balance at December 31, 2020		107,107		$	53.23		151,261		$	19.51		10,459		$	51.91
Granted		22,560		$	44.77		155,110		$	43.24		—		$	—
Vested		(50,596	)	$	49.92		(60,905	)	$	19.54		(3,174	)	$	52.24
Forfeited		(2,279	)	$	56.63		(6,278	)	$	25.09		(1,007	)	$	37.20
Balance at December 31, 2021		76,792		$	52.83		239,188		$	34.74		6,278		$	55.93

Summary of Stock Option Activity

The following table summarizes stock option activity:


	Shares			Weighted-Average Exercise Price		Aggregate Intrinsic Value(1)
Options outstanding at December 31, 2020		204,150		$	19.98
Granted		137,858		$	44.80
Exercised		—		$	—
Forfeited		(30,000	)	$	19.30
Options outstanding at December 31, 2021		312,008		$	31.01	$	3,952,701
Options exercisable at December 31, 2021		27,075		$	21.85	$	566,951

(1)

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

Summary of Options Outstanding and Exercisable

The following table summarizes stock options outstanding and exercisable as of December 31, 2021:


	Options Outstanding						Options Exercisable
Range of exercise prices	Shares		Weighted-Average Remaining Contractual Life (in years)		Weighted-Average Exercise Price		Shares		Weighted-Average Exercise Price
$19.30		120,000		7.00	$	19.30		—	$	—
$21.85		54,150		5.65	$	21.85		27,075	$	21.85
$44.80		137,858		6.15	$	44.80		—	$	—
$19.30 - $44.80		312,008		6.39	$	31.01		27,075	$	21.85

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

Following is additional information on stock options granted during 2021 and the underlying assumptions used in assessing fair value:


	Year Ended
	December 31, 2021
Assumptions used to estimate fair value of stock options granted:
Risk-free interest rate		0.5	%
Expected term (in years)		4.5
Expected volatility		55.8	%
Expected dividend yield		—
Weighted average grant-date fair value per share of options granted	$	20.26

Acquisitions (Tables)

12 Months Ended

Dec. 31, 2021

Business Combinations [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table summarizes the final allocation of the aggregate purchase price paid and amounts of assets acquired and liabilities assumed based upon the estimated fair value at the date of acquisition.


(in thousands)
Purchase price paid as:
Cash			$	75,837
Net working capital adjustment				18
Consideration transferred				75,855
Right to manage				(1,276	)
Purchase price, net				74,579

Fair value of net assets acquired:
Accounts receivable	$	333
Inventories		152
Prepaid expenses		276
Property and equipment		103,642
Intangible assets		20,180
Total assets acquired		124,583
Accounts payable		329
Advanced deposits payable		400
Deferred tax liability		19,734
Other liabilities		16
Total liabilities assumed		20,479

Noncontrolling interest equity		49,719
Total fair value of net assets acquired				54,385
Excess purchase price over fair value of net assets acquired (“goodwill”)			$	20,194

Schedule of Proforma Results of Operations

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


(in thousands, except per share data)	Year Ended December 31, 2019
Revenue	$	1,310,997
Depreciation and amortization	$	61,597
Income from continuing operations	$	22,195
Net income attributable to Viad	$	21,337
Diluted income per share	$	0.99
Basic income per share	$	0.99

Inventories (Tables)

12 Months Ended

Dec. 31, 2021

Inventory Disclosure [Abstract]

Components of Inventories

The components of inventories consisted of the following:


	December 31,
(in thousands)	2021		2020
Raw materials	$	2,350	$	3,362
Finished goods		6,231		5,365
Inventories	$	8,581	$	8,727

Other Current Assets (Tables)

12 Months Ended

Dec. 31, 2021

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Schedule of Other Current Assets

Other current assets consisted of the following:


	December 31,
(in thousands)	2021		2020
Prepaid software maintenance	$	4,154	$	3,058
Restricted cash		2,703		2,426
Income tax receivable		1,901		337
Prepaid vendor payments		1,604		1,835
Prepaid taxes		456		345
Prepaid other		1,165		1,296
Other		2,097		3,631
Other current assets	$	14,080	$	12,928

Property and Equipment, Net (Tables)

12 Months Ended

Dec. 31, 2021

Property, Plant and Equipment [Abstract]

Schedule of Property and Equipment

Property and equipment consisted of the following:


	December 31,
(in thousands)	2021			2020
Land and land interests(1)	$	30,532		$	32,849
Buildings and leasehold improvements		407,930			386,751
Equipment and other		413,684			401,288
Gross property and equipment		852,146			820,888
Accumulated depreciation		(364,060	)		(352,100	)
Property and equipment, net (excluding finance leases)		488,086			468,788
Finance lease ROU assets, net(2)		61,022			23,366
Property and equipment, net	$	549,108		$	492,154

(1)

Land and land interests include certain leasehold interests in land within Pursuit for which we are considered to have perpetual use rights. The carrying amount of these leasehold interests was $8.4 million as of December 31, 2021 and $8.3 million as of December 31, 2020. These land interests are not subject to amortization.

(2)

The increase in finance lease ROU assets, net is primarily due to the commencement of Pursuit’s Sky Lagoon attraction in Iceland during 2021.

Other Investments and Assets (Tables)

12 Months Ended

Dec. 31, 2021

Investments, All Other Investments [Abstract]

Summary of Other Investments and Assets

Other investments and assets consisted of the following:


	December 31,
(in thousands)	2021		2020
Self-insured liability receivable	$	6,847	$	6,358
Other mutual funds		4,057		3,457
Contract costs		2,685		2,912
Other		3,129		2,765
Other investments and assets	$	16,718	$	15,492

Goodwill and Other Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Summary of the Goodwill Balances by Component and Segment

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


(in thousands)	GES			Pursuit			Total
Balance at December 31, 2019	$	186,105		$	101,878		$	287,983
Goodwill impairment		(184,031	)		(1,758	)		(185,789	)
Foreign currency translation adjustments		(2,074	)		1,659			(415	)
Other		—			(1,932	)		(1,932	)
Balance at December 31, 2020		—			99,847			99,847
Business acquisition		—			11,776			11,776
Foreign currency translation adjustments		—			455			455
Balance at December 31, 2021	$	—		$	112,078		$	112,078

Goodwill by reporting unit

The following table summarizes the remaining goodwill by reporting unit:


	December 31,
(in thousands)	2021		2020
Pursuit:
Banff Jasper Collection	$	66,898	$	54,856
Alaska Collection		3,184		3,184
FlyOver		41,996		41,807
Total Goodwill	$	112,078	$	99,847

Summary of Other Intangible Assets

Other intangible assets consisted of the following:


		December 31, 2021							December 31, 2020
(in thousands)	Useful Life (Years)	Gross Carrying Value		Accumulated Amortization			Net Carrying Value		Gross Carrying Value		Accumulated Amortization			Net Carrying Value
Intangible assets subject to amortization:
Customer contracts and relationships	6.1	$	36,848	$	(28,372	)	$	8,476	$	38,214	$	(26,288	)	$	11,926
Operating contracts and licenses	35.7		40,927		(2,660	)		38,267		42,012		(2,405	)		39,607
In-place lease	13.1		15,464		(1,084	)		14,380		15,347		(656	)		14,691
Tradenames	4.4		5,626		(2,819	)		2,807		5,940		(2,435	)		3,505
Non-compete agreements	--		—		—			—		770		(616	)		154
Other	6.2		824		(139	)		685		818		(102	)		716
Total amortized intangible assets			99,689		(35,074	)		64,615		103,101		(32,502	)		70,599
Indefinite-lived intangible assets:
Business licenses			574		—			574		573		—			573
Other intangible assets		$	100,263	$	(35,074	)	$	65,189	$	103,674	$	(32,502	)	$	71,172

Estimated Future Amortization Expense Related to Intangible Assets Subject to Amortization

At December 31, 2021, the estimated future amortization expense related to intangible assets subject to amortization is as follows:


(in thousands)
Year ending December 31,
2022	$	5,121
2023		4,462
2024		3,505
2025		2,210
2026		2,181
Thereafter		47,136
Total	$	64,615

Other Current Liabilities (Tables)

12 Months Ended

Dec. 31, 2021

Other Liabilities, Current [Abstract]

Other Current Liabilities

Other current liabilities consisted of the following:


	December 31,
(in thousands)	2021		2020
Continuing operations:
Self-insured liability	$	4,815	$	5,715
Accrued employee benefit costs		4,164		2,363
Commissions payable		4,119		903
Accrued sales and use taxes		3,428		1,547
Accrued professional fees		1,671		1,691
Current portion of pension and postretirement liabilities		1,637		1,805
Accommodation services deposits		892		304
Accrued restructuring		864		2,479
Accrued interest payable		228		3,042
Other taxes		1,042		1,872
Other		4,963		4,819
Total continuing operations		27,823		26,540
Discontinued operations:
Self-insured liability		312		347
Environmental remediation liabilities		60		61
Other		94		91
Total discontinued operations		466		499
Total other current liabilities	$	28,289	$	27,039

Other Deferred Items and Liabilities (Tables)

12 Months Ended

Dec. 31, 2021

Other Liabilities Disclosure [Abstract]

Summary of Other Deferred Items and Liabilities

Other deferred items and liabilities consisted of the following:


	December 31,
(in thousands)	2021		2020
Continuing operations:
Foreign deferred tax liability	$	27,748	$	21,336
Multi-employer pension plan withdrawal liability		14,260		15,864
Self-insured excess liability		6,847		6,358
Accrued compensation		5,696		5,821
Self-insured liability		5,119		6,662
Accrued restructuring		2,571		2,751
Other		2,758		1,479
Total continuing operations		64,999		60,271
Discontinued operations:
Environmental remediation liabilities		2,168		2,179
Self-insured liability		1,535		1,639
Other		251		539
Total discontinued operations		3,954		4,357
Total other deferred items and liabilities	$	68,953	$	64,628

Debt and Finance Lease Obligations (Tables)

12 Months Ended

Dec. 31, 2021

Debt Disclosure [Abstract]

Schedule of Long-term Debt and Finance Obligations

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


	December 31,
(in thousands, except interest rates)	2021			2020
2021 Credit Facility, 5.5% weighted-average interest rate at December 31, 2021, due through 2028(1)	$	399,000		$	—
2018 Credit Facility, 4.5% weighted-average interest rate at December 31, 2020(1)		—			266,762
FlyOver Iceland Credit Facility, 4.9% weighted-average interest rate at December 31, 2021 and 2020, due through 2025(1)		5,566			5,820
FlyOver Iceland Term Loans, 3.8% weighted-average interest rate at December 31, 2021 and 2020, due through 2024(1)		689			705
Less unamortized debt issuance costs		(14,804	)		(2,737	)
Total debt		390,451			270,550
Finance lease obligations, 9.1% weighted-average interest rate at December 31, 2021 and 8.0% at December 31, 2020, due through 2067(2)		63,401			23,141
Financing arrangements		5,528			—
Total debt and finance obligations(3)(4)		459,380			293,691
Current portion		(12,800	)		(8,335	)
Long-term debt and finance obligations	$	446,580		$	285,356

(1)

Represents the weighted-average interest rate in effect at the respective periods, including any applicable margin. The interest rates do not include amortization of debt issuance costs or commitment fees.

(2)

The increase in finance lease obligations is primarily due to the commencement of Pursuit’s Sky Lagoon attraction in Iceland during 2021, which has a 46-year lease term.

(3)

The weighted-average interest rate on total debt (including unamortized debt issuance costs and commitment fees) was 6.4% for 2021, 4.6% for 2020 and 4.2% for 2019. The estimated fair value of total debt and finance leases was $328.9 million as of December 31, 2021 and $254.0 million as of December 31, 2020. The fair value of debt was estimated by discounting the future cash flows using rates currently available for debt of similar terms and maturity, which is a Level 2 measurement. Refer to Note 13 – Fair Value Measurements.

(4)

Cash paid for interest on debt was $25.9 million during 2021, $14.0 million during 2020, and $11.9 million during 2019.

Schedule of Aggregate Annual Maturities of Long-term Debt

Aggregate annual maturities of long-term debt (excluding finance payments) as of December 31, 2021 are as follows:


(in thousands)	Credit Facilities
Year ending December 31,
2022	$	4,344
2023		5,621
2024		5,188
2025		5,083
2026		5,083
Thereafter		379,936
Total	$	405,255

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

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Summary of Fair Value Assets Measured on Recurring Basis

Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2021

Fair Value Disclosures [Abstract]

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


			Fair Value Measurements at Reporting Date Using
(in thousands)	December 31, 2021		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Money market funds(1)	$	11,003	$	11,003	$	—	$	—
Other mutual funds(2)		4,057		4,057		—		—
Total assets at fair value on a recurring basis	$	15,060	$	15,060	$	—	$	—


			Fair Value Measurements at Reporting Date Using
(in thousands)	December 31, 2020		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Money market funds(1)	$	2	$	2	$	—	$	—
Other mutual funds(2)		3,457		3,457		—		—
Total assets at fair value on a recurring basis	$	3,459	$	3,459	$	—	$	—

(1)

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

(2)

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

Income (Loss) Per Share (Tables)

12 Months Ended

Dec. 31, 2021

Earnings Per Share [Abstract]

Reconciliation of Basic and Diluted Income (loss) Per Share

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



	Year Ended December 31,
(in thousands, except per share data)	2021			2020			2019
Net income (loss) attributable to Viad (diluted)	$	(92,655	)	$	(374,094	)	$	22,035
Less: Allocation to participating securities		—			—			(147	)
Convertible preferred stock dividends paid in cash		(3,900	)		—			—
Convertible preferred stock dividends paid in kind		(3,821	)		(3,006	)		—
Adjustment to the redemption value of redeemable noncontrolling interest		(1,797	)		(926	)		(1,318	)
Net income (loss) allocated to Viad common stockholders (basic)	$	(102,173	)	$	(378,026	)	$	20,570
Add: Allocation to participating securities		—			—			—
Net income (loss) allocated to Viad common stockholders (diluted)	$	(102,173	)	$	(378,026	)	$	20,570

Basic weighted-average outstanding common shares		20,411			20,279			20,146
Additional dilutive shares related to share-based compensation		—			—			138
Diluted weighted-average outstanding shares		20,411			20,279			20,284
Income (loss) per share:
Basic income (loss) attributable to Viad common stockholders	$	(5.01	)	$	(18.64	)	$	1.02
Diluted income (loss) attributable to Viad common stockholders(1)	$	(5.01	)	$	(18.64	)	$	1.02

(1)

Diluted loss per share amount cannot exceed basic loss per share.

Schedule of Excluded Weighted-Average Potential Common Shares from Calculations of Diluted Net Income (Loss) Per Common Shares

We excluded the following weighted-average potential common shares from the calculations of diluted net income (loss) per common share during the applicable periods because their inclusion would have been anti-dilutive:


	Year Ended December 31,
(in thousands)	2021		2020		2019
Convertible preferred stock		6,674		6,406		—
Unvested restricted share-based awards		176		115		8
Unvested performance share-based awards		32		—		—
Stock options		194		24		—

Accumulated Other Comprehensive Income (Loss) (Tables)

12 Months Ended

Dec. 31, 2021

Accumulated Other Comprehensive Income Loss [Abstract]

Schedule of Accumulated Other Comprehensive Income (Loss)

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


(in thousands)	Cumulative Foreign Currency Translation Adjustments			Unrecognized Net Actuarial Loss and Prior Service Credit, Net			Accumulated Other Comprehensive Income (Loss)
Balance at December 31, 2019	$	(23,799	)	$	(11,900	)	$	(35,699	)
Other comprehensive income (loss) before reclassifications		7,113			(27	)		7,086
Amounts reclassified from AOCI, net of tax		—			(2,028	)		(2,028	)
Net other comprehensive income (loss)		7,113			(2,055	)		5,058
Balance at December 31, 2020	$	(16,686	)	$	(13,955	)	$	(30,641	)
Other comprehensive income (loss) before reclassifications		524			30			554
Amounts reclassified from AOCI, net of tax		—			2,658			2,658
Net other comprehensive income (loss)		524			2,688			3,212
Balance at December 31, 2021	$	(16,162	)	$	(11,267	)	$	(27,429	)

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Summary of Income from Continuing Operations before Income Taxes

Income from continuing operations before income taxes consisted of the following:


	Year Ended December 31,
(in thousands)	2021			2020			2019
Foreign	$	(17,750	)	$	(95,919	)	$	49,171
United States		(77,331	)		(264,940	)		(23,061	)
Income (loss) from continuing operations before income taxes	$	(95,081	)	$	(360,859	)	$	26,110

Summary of Significant Components of the Income Tax Provision From Continuing Operations

Significant components of the income tax provision from continuing operations are as follows:


	Year Ended December 31,
(in thousands)	2021			2020			2019
Current:
United States:
Federal	$	49		$	(128	)	$	(2,260	)
State		(581	)		674			1,400
Foreign		(7,268	)		(1,397	)		13,764
Total current		(7,800	)		(851	)		12,904
Deferred:
United States:
Federal		—			17,171			(3,355	)
State		—			2,896			(1,619	)
Foreign		6,012			(4,970	)		(5,424	)
Total deferred		6,012			15,097			(10,398	)
Income tax (benefit) expense	$	(1,788	)	$	14,246		$	2,506

Reconciliation of Income Tax Expense


	Year Ended December 31,
(in thousands)	2021					2020					2019
Computed income tax (benefit) expense at statutory federal income tax rate	$	(19,967	)	21.0	%	$	(75,780	)	21.0	%	$	5,483		21.0	%
State income tax (benefit), net of federal benefit		(7,959	)	8.4	%		(4,138	)	1.1	%		(173	)	(0.2	)%
Remeasurement of deferred taxes due to change in tax rates		—		0.0	%		—		0.0	%		(4,517	)	(17.3	)%
Foreign tax rate differential		(672	)	0.7	%		(401	)	0.1	%		3,122		12.0	%
U.S. tax (benefit) on current year foreign earnings, net of foreign tax credits		—		0.0	%		—		0.0	%		(1,792	)	(6.9	)%
Goodwill impairment		—		0.0	%		16,471		(4.6	)%		—		0.0	%
Change in valuation allowance		21,859		(23.0	)%		77,369		(21.3	)%		920		1.8	%
Restructuring		4,676		(4.9	)%		(3,002	)	0.8	%		—		0.0	%
Other adjustments, net		275		(0.3	)%		3,727		(1.0	)%		(537	)	(0.8	)%
Income tax (benefit) expense	$	(1,788	)	1.9	%	$	14,246		(3.9	)%	$	2,506		9.6	%

Schedule of Deferred Tax Assets and Liabilities

The components of deferred income tax assets and liabilities included in the Consolidated Balance Sheets are as follows:


	December 31,
(in thousands)	2021			2020
Deferred tax assets:
Tax credit carryforwards	$	6,491		$	5,326
Pension, compensation, and other employee benefits		14,755			11,991
Provisions for losses		3,979			4,623
Net operating loss carryforwards		53,546			44,358
Leases		2,557			660
Goodwill and other intangible assets		17,781			18,055
Other deferred income tax assets		17,964			14,175
Total deferred tax assets		117,073			99,188
Valuation allowance		(103,510	)		(81,795	)
Foreign deferred tax assets included above		(5,037	)		(7,717	)
United States net deferred tax assets		8,526			9,676
Deferred tax liabilities:
Property and equipment		(24,100	)		(24,017	)
Goodwill and other intangible assets		(11,651	)		(8,846	)
Leases		(339	)		(857	)
Other deferred income tax liabilities		(4,254	)		(4,485	)
Total deferred tax liabilities		(40,344	)		(38,205	)
Foreign deferred tax liabilities included above		(31,778	)		(28,490	)
United States net deferred tax liabilities included above		(8,566	)		(9,715	)
United States net deferred tax liabilities	$	(40	)	$	(39	)

Schedule of Unrecognized Tax Benefits

A reconciliation of the liabilities associated with uncertain tax positions (excluding interest and penalties) is as follows:


(in thousands)
Balance at December 31, 2018	$	370
Additions for tax positions taken in prior years		151
Reductions for lapse of applicable statutes		(296	)
Balance at December 31, 2019		225
Additions for tax positions taken in prior years		25
Balance at December 31, 2020		250
Additions for tax positions taken in prior years		285
Balance at December 31, 2021	$	535

Pension and Postretirement Benefits (Tables)

12 Months Ended

Dec. 31, 2021

Retirement Benefits [Abstract]

Components of Net Periodic Benefit Cost and Other Amounts Recognized in Other Comprehensive Income (Loss) of Viad's Postretirement Benefit Plans

The components of net periodic benefit cost and other amounts recognized in other comprehensive income (loss) of our pension plans consist of the following:


	December 31,
(in thousands)	2021			2020			2019
Net periodic benefit cost:
Service cost	$	—		$	—		$	61
Interest cost		419			653			861
Expected return on plan assets		(47	)		(145	)		(99	)
Recognized net actuarial loss		623			526			403
Net periodic benefit cost		995			1,034			1,226
Other changes in plan assets and benefit obligations recognized in other comprehensive income:
Net actuarial (gain) loss		(883	)		1,587			1,305
Reversal of amortization item:
Net actuarial loss		(623	)		(526	)		(403	)
Total recognized in other comprehensive income (loss)		(1,506	)		1,061			902
Total recognized in net periodic benefit cost and other comprehensive income (loss)	$	(511	)	$	2,095		$	2,128

The components of net periodic benefit cost and other amounts recognized in other comprehensive income (loss) of our postretirement benefit plans consist of the following:


	December 31,
(in thousands)	2021			2020			2019
Net periodic benefit cost:
Service cost	$	70		$	51		$	64
Interest cost		181			296			458
Amortization of prior service credit		(6	)		(146	)		(189	)
Recognized net actuarial loss		115			18			112
Net periodic benefit cost		360			219			445
Settlement income		(65	)		—			—
Total expenses		295			219			445
Other changes in plan assets and benefit obligations recognized in other comprehensive income (loss):
Net actuarial (gain) loss		(642	)		688			(1,117	)
Prior service credit		—			—			—
Reversal of amortization items:
Net actuarial loss		(115	)		(18	)		(112	)
Prior service credit		6			146			189
Settlement income		65			—			—
Total recognized in other comprehensive income		(686	)		816			(1,040	)
Total recognized in net periodic benefit cost and other comprehensive income (loss)	$	(391	)	$	1,035		$	(595	)

The components of net periodic benefit cost and other amounts recognized in other comprehensive income (loss) included the following:


	December 31,
(in thousands)	2021			2020			2019
Net periodic benefit cost:
Service cost	$	457		$	444		$	405
Interest cost		339			365			397
Expected return on plan assets		(508	)		(530	)		(487	)
Recognized net actuarial loss		171			162			127
Settlement		—			—			—
Net periodic benefit cost		459			441			442
Other changes in plan assets and benefit obligations recognized in other comprehensive income (loss):
Net actuarial (income) loss		(375	)		368			605
Reversal of amortization of net actuarial loss		(171	)		(162	)		(127	)
Total recognized in other comprehensive income (loss)		(546	)		206			478
Total recognized in net periodic benefit cost and other comprehensive income (loss)	$	(87	)	$	647		$	920

Summary of Funded Status of the Plans

The following table indicates the funded status of the plans as of December 31:


													Postretirement
	Funded Plans						Unfunded Plans						Benefit Plans
(in thousands)	2021			2020			2021			2020			2021			2020
Change in benefit obligation:
Benefit obligation at beginning of year	$	16,331		$	15,572		$	9,776		$	9,462		$	12,219		$	11,986
Service cost		—			—			—			—			70			51
Interest cost		266			406			153			247			180			296
Actuarial adjustments		(385	)		1,242			(109	)		784			(641	)		688
Benefits paid		(1,021	)		(889	)		(650	)		(717	)		(1,694	)		(802	)
Benefit obligation at end of year		15,191			16,331			9,170			9,776			10,134			12,219
Change in plan assets:
Fair value of plan assets at beginning of year		11,878			11,291			—			—			—			—
Actual return on plan assets		436			584			—			—			—			—
Company contributions		354			892			650			717			1,694			802
Benefits paid		(1,021	)		(889	)		(650	)		(717	)		(1,694	)		(802	)
Fair value of plan assets at end of year		11,647			11,878			—			—			—			—
Funded status at end of year	$	(3,544	)	$	(4,453	)	$	(9,170	)	$	(9,776	)	$	(10,134	)	$	(12,219	)

The following table represents the funded status of the plans as of December 31:


	Funded Plans						Unfunded Plans
(in thousands)	2021			2020			2021			2020
Change in benefit obligation:
Benefit obligation at beginning of year	$	10,916		$	9,990		$	2,449		$	2,331
Service cost		457			444			—			—
Interest cost		270			295			69			70
Actuarial adjustments		(475	)		686			208			111
Benefits paid		(462	)		(743	)		(185	)		(180	)
Translation adjustment		84			244			(71	)		117
Benefit obligation at end of year		10,790			10,916			2,470			2,449
Change in plan assets:
Fair value of plan assets at beginning of year		10,798			10,013			—			—
Actual return on plan assets		623			1,044			—			—
Company contributions		133			253			185			180
Benefits paid		(462	)		(743	)		(185	)		(180	)
Translation adjustment		79			231			—			—
Fair value of plan assets at end of year		11,171			10,798			—			—
Funded status at end of year	$	381		$	(118	)	$	(2,470	)	$	(2,449	)

Net Amount Recognized in Consolidated Balance Sheets

The net amounts recognized in the Consolidated Balance Sheets under the captions “Pension and postretirement benefits” and “Other Current Liabilities” as of December 31 are as follows:


									Postretirement
	Funded Plans				Unfunded Plans				Benefit Plans
(in thousands)	2021		2020		2021		2020		2021		2020
Other current liabilities	$	—	$	—	$	701	$	687	$	755	$	931
Non-current liabilities		3,544		4,453		8,469		9,089		9,379		11,288
Net amount recognized	$	3,544	$	4,453	$	9,170	$	9,776	$	10,134	$	12,219

The net amounts recognized in the Consolidated Balance Sheets under the captions “Pension and postretirement benefits” and “Other Current Liabilities” as of December 31 were as follows:


	Funded Plans						Unfunded Plans
(in thousands)	2021			2020			2021		2020
Non-current assets	$	(384	)	$	(31	)	$	—	$	—
Other current liabilities		—			—			181		187
Non-current liabilities		—			149			2,300		2,262
Net amount recognized	$	(384	)	$	118		$	2,481	$	2,449

Amounts Recognized in AOCI

Amounts recognized in AOCI as of December 31 are as follows:


									Postretirement
	Funded Plans				Unfunded Plans				Benefit Plans				Total		Total
(in thousands)	2021		2020		2021		2020		2021		2020		2021		2020
Net actuarial loss	$	8,025	$	9,252	$	3,129	$	3,409	$	1,299	$	1,990	$	12,453	$	14,651
Prior service credit		—		—		—		—		195		189		195		189
Subtotal		8,025		9,252		3,129		3,409		1,494		2,179		12,648		14,840
Less tax effect		—		—		—		—		—		—		—		—
Total	$	8,025	$	9,252	$	3,129	$	3,409	$	1,494	$	2,179	$	12,648	$	14,840

Fair Value of Plans' Assets by Asset Class

The fair value of the domestic plans’ assets by asset class are as follows:


			Fair Value Measurements at December 31, 2021
			Quoted Prices in Active Markets		Significant Other Observable Inputs		Significant Unobservable Inputs
(in thousands)	Total		(Level 1)		(Level 2)		(Level 3)
Domestic pension plans:
Fixed income securities	$	5,935	$	5,935	$	—	$	—
Equity securities		5,297		5,297		—		—
Cash		230		230		—		—
Other		185		—		185		—
Total	$	11,647	$	11,462	$	185	$	—


			Fair Value Measurements at December 31, 2020
			Quoted Prices in Active Markets		Significant Other Observable Inputs		Significant Unobservable Inputs
(in thousands)	Total		(Level 1)		(Level 2)		(Level 3)
Domestic pension plans:
Fixed income securities	$	6,430	$	6,430	$	—	$	—
Equity securities		4,485		4,485		—		—
Cash		774		774		—		—
Other		189		—		189		—
Total	$	11,878	$	11,689	$	189	$	—

The fair value information related to the foreign pension plans’ assets is summarized in the following tables:


			Fair Value Measurements at Reporting Date Using
(in thousands)	December 31, 2021		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobserved Inputs (Level 3)
Assets:
Fixed income securities	$	6,534	$	6,534	$	—	$	—
Equity securities		4,439		4,439		—		—
Other		198		198		—		—
Total	$	11,171	$	11,171	$	—	$	—


			Fair Value Measurements at Reporting Date Using
(in thousands)	December 31, 2020		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobserved Inputs (Level 3)
Assets:
Fixed income securities	$	5,450	$	5,450	$	—	$	—
Equity securities		5,153		5,153		—		—
Other		195		195		—		—
Total	$	10,798	$	10,798	$	—	$	—

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:


(in thousands)	Funded Plans		Unfunded Plans		Postretirement Benefit Plans
2022	$	1,094	$	711	$	766
2023	$	1,036	$	694	$	763
2024	$	1,001	$	677	$	758
2025	$	1,068	$	659	$	732
2026	$	1,053	$	638	$	714
2027-2031	$	4,578	$	2,851	$	3,035

The following payments, which reflect expected future service, as appropriate, are expected to be paid:


(in thousands)	Funded Plans		Unfunded Plans
2022	$	1,872	$	182
2023	$	384	$	181
2024	$	384	$	181
2025	$	383	$	180
2026	$	381	$	179
2027-2031	$	1,922	$	875

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)	2021		2020		2021		2020
Projected benefit obligation	$	15,191	$	16,331	$	9,170	$	9,776
Accumulated benefit obligation	$	15,191	$	16,331	$	9,170	$	9,776
Fair value of plan assets	$	11,647	$	11,878	$	—	$	—


	Foreign Plans
	Funded Plans				Unfunded Plans
(in thousands)	2021		2020		2021		2020
Projected benefit obligation	$	10,790	$	10,916	$	2,470	$	2,449
Accumulated benefit obligation	$	10,150	$	10,447	$	2,470	$	2,449
Fair value of plan assets	$	11,171	$	10,798	$	—	$	—

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
	2021			2020			2021			2020			2021			2020			2021			2020
Discount rate		2.76	%		2.38	%		2.74	%		2.35	%		2.85	%		2.47	%		2.80	%		2.34	%
Rate of compensation increase	N/A			N/A				3.00	%		3.00	%	N/A			N/A				2.35	%		2.35	%

Weighted-average assumptions used to determine net periodic benefit costs as of December 31 were as follows:


	Domestic Plans
	Funded Plans						Unfunded Plans						Postretirement Benefit Plans						Foreign Plans
	2021			2020			2021			2020			2021			2020			2021			2020
Discount rate		2.32	%		3.12	%		2.35	%		3.13	%		2.47	%		3.19	%		2.34	%		2.93	%
Expected return on plan assets		4.75	%		5.50	%	N/A			N/A				0.00	%		0.00	%		3.76	%		4.39	%
Rate of compensation increase	N/A			N/A				3.00	%		3.00	%	N/A			N/A				2.35	%		2.35	%

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.		2021	2020		2021		2020		2019
Pension Fund:
Western Conference of Teamsters Pension Plan	91-6145047		1	Green	Green	No	$	2,571	$	2,898	$	6,754	No	Continuous
Chicago Regional Council of Carpenters Pension Fund	36-6130207		1	Green	Green	Yes		658		608		2,877	No	5/31/2024
IBEW Local Union No 357 Pension Plan A	88-6023284		1	Green	Green	No		628		843		1,074	No	Continuous
Southwest Carpenters Pension Trust	95-6042875		1	Green	Green	No		352		195		717	No	7/31/2023
Electrical Contractors Assoc. Chicago Local Union 134, IBEW Joint Pension Trust of Chicago Plan #2	51-6030753		2	Green	Green	No		306		509		1,651	No	Continuous
Southern California Local 831—Employer Pension Fund(1)	95-6376874		1	Green	Green	No		302		943		3,427	No	Continuous
Machinery Movers Riggers & Mach Erect Local 136 Supplemental Retirement Plan(1)	36-1416355		11	Yellow	Yellow	Yes		176		337		797	Yes	6/30/2024
New England Teamsters & Trucking Industry Pension	04-6372430		1	Red	Red	Yes		109		42		506	No	3/31/2022
Sign Pictorial & Display Industry Pension Plan(1)	94-6278490		1	Green	Green	No		76		92		768	No	Continuous
Central States, Southeast and Southwest Areas Pension Plan	36-6044243		1	Red	Red	Yes		12		7		872	No	3/31/2023
Southern California IBEW-NECA Pension Fund	95-6392774		1	Yellow	Yellow	Yes		7		89		799	Yes	Continuous
All other funds(2)								929		963		3,625
Total contributions to defined benefit plans								6,126		7,526		23,867
Total contributions to other plans								931		1,066		3,416
Total contributions to multi-employer plans							$	7,057	$	8,592	$	27,283

(1)

We contributed more than 5% of total plan contributions for the plan year detailed in the plans’ most recent Form 5500s.

(2)

Represents participation in 27 pension funds during 2021.

Restructuring Charges (Tables)

12 Months Ended

Dec. 31, 2021

Restructuring and Related Activities [Abstract]

Changes to Restructuring Liability by Major Restructuring Activity

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


	GES						Other Restructurings
(in thousands)	Severance & Employee Benefits			Facilities			Severance & Employee Benefits			Total
Balance at December 31, 2018	$	2,039		$	200		$	12		$	2,251
Restructuring charges		6,071			1,817			492			8,380
Cash payments		(5,169	)		(752	)		(272	)		(6,193	)
Adjustment to liability		(6	)		74			7			75
Balance at December 31, 2019		2,935			1,339			239			4,513
Restructuring charges		6,563			5,784			1,093			13,440
Cash payments		(7,051	)		(2,573	)		(1,201	)		(10,825	)
Non-cash items(1)		—			(1,789	)		—			(1,789	)
Adjustment to liability		(7	)		5			(107	)		(109	)
Balance at December 31, 2020		2,440			2,766			24			5,230
Restructuring charges		1,829			4,107			130			6,066
Cash payments		(2,302	)		(3,506	)		(91	)		(5,899	)
Non-cash items(1)		—			(1,906	)		—			(1,906	)
Adjustment to liability		9			(28	)		(37	)		(56	)
Balance at December 31, 2021	$	1,976		$	1,433		$	26		$	3,435

(1)

Represents non-cash adjustments related to a write down of certain ROU assets as a result of vacating certain facilities prior to the lease term during the year ended December 31, 2021 and the closure and liquidation of GES’ United Kingdom-based audio-visual services business during the year ended December 31, 2020.

Leases and Other (Tables)

12 Months Ended

Dec. 31, 2021

Leases [Abstract]

Summary of Balance Sheet Presentation of Operating and Finance Leases

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


		December 31,
(in thousands)	Classification on the Consolidated Balance Sheet	2021		2020
Assets:
Operating lease assets	Operating lease ROU assets	$	95,915	$	82,739
Finance lease assets(1)	Property and equipment, net		61,022		23,366
Total lease assets		$	156,937	$	106,105

Liabilities:
Current:
Operating lease obligations	Operating lease obligations	$	12,451	$	15,697
Finance lease obligations	Current portion of debt and finance obligations		2,928		2,514
Noncurrent:
Operating lease obligations	Long-term operating lease obligations		93,406		70,150
Finance lease obligations(1)	Long-term debt and finance obligations		60,473		20,627
Total lease liabilities		$	169,258	$	108,988

(1)

The increase in finance lease assets and obligations is primarily due to the commencement of Pursuit’s Sky Lagoon attraction in Iceland during the first quarter of 2021, which has a 46-year lease term.

Components of Lease Expense

The components of lease expense consisted of the following:


	Year Ended December 31,
(in thousands)	2021		2020
Finance lease cost:
Amortization of ROU assets	$	4,280	$	3,662
Interest on lease liabilities		5,580		1,668
Operating lease cost		23,129		27,259
Short-term lease cost		1,444		701
Variable lease cost		4,372		5,672
Total lease cost, net	$	38,805	$	38,962

Schedule of Other Information Related to Operating and Finance Leases

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


	Year Ended December 31,
(in thousands)	2021			2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	23,320		$	26,250
Operating cash flows from finance leases	$	3,926		$	1,948
Financing cash flows from finance leases	$	3,223		$	3,543
ROU assets obtained in exchange for lease obligations:
Operating leases	$	38,838		$	659
Finance leases	$	43,241		$	2,141



	December 31,
	2021			2020
Weighted-average remaining lease term (years):
Operating leases		8.54			8.39
Finance leases		34.95			13.97
Weighted-average discount rate:
Operating leases		6.86	%		6.93	%
Finance leases		9.06	%		7.99	%

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

As of December 31, 2021, the estimated future minimum lease payments under non-cancellable leases, excluding variable leases and variable non-lease components, are as follows:


(in thousands)	Operating Leases			Finance Leases			Total
2022	$	21,393		$	8,445		$	29,838
2023		18,880			7,926			26,806
2024		17,215			6,858			24,073
2025		15,715			6,179			21,894
2026		15,208			5,971			21,179
Thereafter		57,297			183,142			240,439
Total future lease payments		145,708			218,521			364,229
Less: Amount representing interest		(39,851	)		(155,120	)		(194,971	)
Present value of minimum lease payments		105,857			63,401			169,258
Current portion		12,451			2,928			15,379
Long-term portion	$	93,406		$	60,473		$	153,879

Schedule of Estimated Future Minimum Rentals Under Non-cancellable Leases

As of December 31, 2021, the estimated future minimum rental income under non-cancellable leases, which includes rental income from facilities that we own, are as follows:


(in thousands)
2022	$	1,295
2023		1,074
2024		850
2025		696
2026		535
Thereafter		924
Total minimum rents	$	5,374

Redeemable Noncontrolling Interest (Tables)

12 Months Ended

Dec. 31, 2021

Noncontrolling Interest [Abstract]

Summary of Changes in Redeemable Noncontrolling Interest

Changes in the redeemable noncontrolling interest are as follows:


(in thousands)
Balance at December 31, 2019	$	6,172
Net loss attributable to redeemable noncontrolling interest		(1,482	)
Adjustment to the redemption value		926
Foreign currency translation adjustment		(391	)
Balance at December 31, 2020		5,225
Net loss attributable to redeemable noncontrolling interest		(1,766	)
Adjustment to the redemption value		1,797
Capital contributions		341
Foreign currency translation adjustment		(153	)
Balance at December 31, 2021	$	5,444

Non-redeemable noncontrolling interest

Non-redeemable noncontrolling interest represents the portion of equity in a subsidiary that is not attributable, directly or indirectly, to us. Our non-redeemable noncontrolling interest relates to the equity ownership interest that we do not own.

Changes in the non-redeemable noncontrolling interest are as follows:


(in thousands)	Glacier Park Inc.			Brewster (1)			Sky Lagoon			Total
Balance at December 31, 2019	$	15,042		$	52,006		$	12,683		$	79,731
Net loss attributable to non-redeemable noncontrolling interest		(1,091	)		(48	)		(237	)		(1,376	)
Acquisitions		—			—			—			—
Distributions to non-controlling interests		—			(1,526	)		—			(1,526	)
Foreign currency translation adjustments		2			863			450			1,315
Balance at December 31, 2020	$	13,953		$	51,295		$	12,896		$	78,144
Net income (loss) attributable to non-redeemable noncontrolling interest		1,360			1,399			(1,073	)		1,686
Acquisitions		—			6,759			—			6,759
Distributions to non-controlling interests		—			(1,160	)		—			(1,160	)
Foreign currency translation adjustments		2			308			(183	)		127
Balance at December 31, 2021	$	15,315		$	58,601		$	11,640		$	85,556
Equity ownership interest that we do not own		20	%		40	%		49	%

(1)

Includes Mountain Park Lodges and our recently acquired Golden Skybridge at Brewster, part of the Banff Jasper Collection.

Segment Information (Tables)

12 Months Ended

Dec. 31, 2021

Segment Reporting [Abstract]

Reconciliation of income statement items from reportable segments

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


	Year Ended December 31,
(in thousands)	2021			2020			2019
Revenue:
Pursuit	$	187,048		$	76,810		$	222,813
GES		320,292			338,625			1,079,923
Total revenue	$	507,340		$	415,435		$	1,302,736
Segment operating income (loss):
Pursuit	$	4,609		$	(42,343	)	$	54,310
GES		(51,611	)		(73,897	)		35,933
Segment operating income (loss)		(47,002	)		(116,240	)		90,243
Corporate eliminations (1)		70			65			67
Corporate activities		(11,689	)		(8,687	)		(10,865	)
Interest income		116			377			369
Interest expense		(28,440	)		(18,264	)		(14,199	)
Multi-employer pension plan withdrawal		(57	)		(462	)		(15,693	)
Other expense, net		(2,013	)		(1,132	)		(1,586	)
Restructuring charges:
Pursuit		(85	)		(132	)		(52	)
GES		(5,936	)		(12,347	)		(7,888	)
Corporate		(45	)		(961	)		(440	)
Impairment charges:
Pursuit		—			(1,758	)		—
GES		—			(201,318	)		(5,346	)
Legal settlement:
GES		—			—			(8,500	)
Income (loss) from continuing operations before income taxes	$	(95,081	)	$	(360,859	)	$	26,110

(1)

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

Reconciliation of assets from reportable segments


	December 31,
(in thousands)	2021		2020		2019
Assets:
Pursuit	$	725,946	$	620,413	$	589,205
GES		242,146		184,806		608,254
Corporate and other		69,538		48,005		121,232
	$	1,037,630	$	853,224	$	1,318,691
Depreciation and amortization:
Pursuit	$	32,469	$	28,393	$	23,154
GES		21,247		28,075		35,581
Corporate and other		34		97		229
	$	53,750	$	56,565	$	58,964
Capital expenditures:
Pursuit	$	54,325	$	43,176	$	49,934
GES		3,135		10,391		26,197
Corporate and other		476		—		16
	$	57,936	$	53,567	$	76,147

Financial information by major geographic area

The table below presents the financial information by major geographic area:


	December 31,
(in thousands)	2021		2020		2019
Revenue:
United States	$	312,265	$	290,541	$	873,213
EMEA		96,603		56,656		218,404
Canada		98,472		68,238		211,119
Total revenue	$	507,340	$	415,435	$	1,302,736
Long-lived assets:
United States	$	179,756	$	173,790	$	205,399
EMEA		91,877		56,996		63,582
Canada		294,193		276,860		277,039
Total long-lived assets	$	565,826	$	507,646	$	546,020

Overview and Summary of Significant Accounting Policies - Narrative (Details) $ in Millions			12 Months Ended
	Jul. 30, 2021 USD ($)	Aug. 05, 2020 USD ($)	Dec. 31, 2021 Segment	Aug. 31, 2020 USD ($)	Oct. 24, 2018 USD ($)
Overview and Summary of Significant Accounting Policies [Line Items]
Number of reportable segments \| Segment			2
Initial Investment		$ 135.0
Fees		$ 9.2
Remaining maturities of highly liquid instruments			three months or less
Percentage of non equity ownership related redeemable noncontrolling interests			56.40%
Liability Based Awards
Overview and Summary of Significant Accounting Policies [Line Items]
Share based compensation arrangements requisite service period			3 years
2021 Credit Facility
Overview and Summary of Significant Accounting Policies [Line Items]
Fees	$ 14.8
Maximum borrowing capacity on credit facility	500.0
Loans Proceeds Offset	400.0
Revolving Credit Facility
Overview and Summary of Significant Accounting Policies [Line Items]
Borrowing capacity on line of credit				$ 450.0
Repayment of revolving credit facility	$ 100.0
Revolving Credit Facility \| 2018 Credit Agreement
Overview and Summary of Significant Accounting Policies [Line Items]
Borrowing capacity on line of credit					$ 450.0
Maturity date	Oct. 24, 2023
Revolving Credit Facility \| 2021 Credit Facility
Overview and Summary of Significant Accounting Policies [Line Items]
Maturity date	Jul. 30, 2026
Maximum borrowing capacity on credit facility	$ 100.0
Maturity date	July 30, 2026
Senior Secured Credit Facility \| 2021 Credit Facility
Overview and Summary of Significant Accounting Policies [Line Items]
Maximum borrowing capacity on credit facility	$ 500.0
Term Loan B
Overview and Summary of Significant Accounting Policies [Line Items]
Proceeds from term loan	327.0
Term Loan B \| 2018 Credit Agreement
Overview and Summary of Significant Accounting Policies [Line Items]
Fees	14.8
Loans Proceeds Offset	400.0
Term Loan B \| 2021 Credit Facility
Overview and Summary of Significant Accounting Policies [Line Items]
Borrowing capacity on line of credit	$ 400.0
Maturity date	Jul. 30, 2028
Maximum borrowing capacity on credit facility	$ 400.0
Maturity date	July 30, 2028
Loans Proceeds Offset	$ 327.0
Maximum
Overview and Summary of Significant Accounting Policies [Line Items]
Lease expiration period			24 years
Share based compensation arrangements requisite service period			3 years
Share based compensation arrangement performance period			3 years 4 months 24 days
Maximum \| Stock Options
Overview and Summary of Significant Accounting Policies [Line Items]
Share based compensation arrangements requisite service period			3 years
Maximum \| Equity Based Awards
Overview and Summary of Significant Accounting Policies [Line Items]
Share based compensation arrangements requisite service period			3 years
Maximum \| Building
Overview and Summary of Significant Accounting Policies [Line Items]
Property, plant and equipment, useful life			40 years
Maximum \| Equipment
Overview and Summary of Significant Accounting Policies [Line Items]
Property, plant and equipment, useful life			12 years
Maximum \| Land
Overview and Summary of Significant Accounting Policies [Line Items]
Lease expiration period			46 years
Minimum
Overview and Summary of Significant Accounting Policies [Line Items]
Share based compensation arrangements requisite service period			1 year
Share based compensation arrangement performance period			1 year 4 months 24 days
Minimum \| Stock Options
Overview and Summary of Significant Accounting Policies [Line Items]
Share based compensation arrangements requisite service period			1 year
Minimum \| Equity Based Awards
Overview and Summary of Significant Accounting Policies [Line Items]
Share based compensation arrangements requisite service period			1 year
Minimum \| Building
Overview and Summary of Significant Accounting Policies [Line Items]
Property, plant and equipment, useful life			15 years
Minimum \| Equipment
Overview and Summary of Significant Accounting Policies [Line Items]
Property, plant and equipment, useful life			3 years

Overview and Summary of Significant Accounting Policies - Schedule of Cash and Cash Equivalents and Restricted Cash Balances (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Cash and Cash Equivalents [Abstract]
Cash and cash equivalents	$ 61,600	$ 39,545
Restricted cash included in other current assets	$ 2,703	$ 2,426
Restricted Cash and Cash Equivalents, Current, Asset, Statement of Financial Position [Extensible List]	us-gaap:OtherCurrentAssetsMember	us-gaap:OtherCurrentAssetsMember
Cash, cash equivalents, and restricted cash shown in the statement of cash flows	$ 64,303	$ 41,971	$ 62,004	$ 44,899

Revenue and Related Contract Costs and Contract Liabilities - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Disaggregation Of Revenue [Line Items]
Revenue recognition description of capitalized contract costs	Capitalized contract costs are expensed upon the transfer of the related goods or services and are included in costs of services or costs of products, as applicable
Capitalized contract costs to obtain contracts	$ 500,000
Capitalized contract costs to fulfill contracts	13,300,000
Impairment loss on capitalized contract costs	$ 0	$ 0
GES
Disaggregation Of Revenue [Line Items]
Performance obligation description of payment terms	Payment terms are generally within 30-60 days and contain no significant financing components
GES \| Minimum [Member]
Disaggregation Of Revenue [Line Items]
Performance obligation payment terms	30 days
GES \| Maximum
Disaggregation Of Revenue [Line Items]
Performance obligation payment terms	60 days
Pursuit
Disaggregation Of Revenue [Line Items]
Performance obligation description of payment terms	When we extend credit, payment terms are generally within 30 days and contain no significant financing components
Performance obligation payment terms	30 days

Revenue and Related Contract Costs and Contract Liabilities - Summary of Changes in Contract Liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Revenue from Contract with Customer [Abstract]
Balance at January 1	$ 18,618	$ 50,796
Cash additions	147,814	154,057
Revenue recognized	(126,573)	(186,518)
Foreign exchange translation adjustment	(197)	(283)
Balance at December 31	$ 39,662	$ 18,618

Revenue and Related Contract Costs and Contract Liabilities - Summary of Changes in Contract Costs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Revenue from Contract with Customer [Abstract]
Balance at January 1	$ 10,835	$ 28,496
Additions	31,923	19,517
Expenses	(27,935)	(25,381)
Cancelled	(976)	11,482
Foreign exchange translation adjustment	(57)	315
Balance at December 31	$ 13,790	$ 10,835

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

12 Months Ended

Dec. 31, 2021

Dec. 31, 2020

Dec. 31, 2019

$ 507,340

$ 415,435

$ 1,302,736

Pursuit

187,048

76,810

222,813

GES

Operating Segments | Pursuit

320,292

338,625

1,079,923

187,048

76,810

222,813

Operating Segments | GES

Intersegment Eliminations | Pursuit

320,292

338,625

1,079,923

Intersegment Eliminations | GES

(627)

(317)

(1,686)

(5,933)

(3,680)

(20,741)

North America | GES

243,983

288,921

884,105

EMEA | GES

Services Transferred Over Time | Pursuit

82,242

53,384

216,559

Services Transferred Over Time | GES

132,924

52,583

164,930

Products Transferred Over Time | GES

268,218

298,945

936,604

Products Transferred at a Point in Time | Pursuit

^[1]

18,551

15,517

61,668

Products Transferred at a Point in Time | GES

54,124

24,227

57,883

33,523

24,163

81,651

Admissions | Pursuit

61,166

19,939

85,371

Accommodations | Pursuit

61,156

29,800

60,672

Transportation | Pursuit

Travel Planning and Other | Pursuit

5,591

2,694

14,594

5,638

467

5,979

Total Services | Pursuit

Exhibitions And Conferences | GES

132,924

52,583

164,930

200,846

228,033

692,128

Brand Experiences | GES

105,872

97,654

328,085

Venue Services | GES

Food and Beverage | Pursuit

13,574

12,938

59,710

Retail Operations | Pursuit

28,953

10,295

31,838

25,171

13,932

26,045

Total Products Revenue

Total Products Revenue | Pursuit

106,198

63,907

201,202

Banff Jasper Collection | Pursuit

54,124

24,227

57,883

Alaska Collection | Pursuit

82,728

46,913

133,229

Glacier Park Collection | Pursuit

37,344

6,282

39,406

45,276

17,596

37,121

FlyOver | Pursuit

10,693

6,019

13,057

Sky Lagoon | Pursuit

^[2]

$ 11,007

$ 0

[1]	GES’ graphics product revenue is earned over time over the duration of an event as it is considered a part of the single performance obligation satisfied over time.
[2]	We opened Pursuit’s Sky Lagoon attraction in Reykjavik, Iceland on April 30, 2021.

Share-Based Compensation - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Capitalized share-based compensation costs	$ 0	$ 0	$ 0
Repurchase of common stock for employee tax withholding obligations amount	$ 1,626,000	1,688,000	3,046,000
Recognition period of unrecognized cost	1 year 6 months
Total unrecognized compensation cost related to non-vested stock option awards	$ 1,400,000	1,400,000
Minimum [Member]
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Share based compensation arrangement performance period	1 year 4 months 24 days
Requisite service period	1 year
Maximum [Member]
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Share based compensation arrangement performance period	3 years 4 months 24 days
Requisite service period	3 years
Performance-based restricted stock units
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, Vested in Period	0
Restructuring Charges
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Share-based compensation before income tax benefit	$ 0	$ 0	$ 100,000
2017 Plan
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Useful Term of the plan	10 years
Common stock shares issuable	1,750,000,000
Shares available for grant	672,648
2007 Plan \| Restricted Stock Awards And Restricted Stock Units
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, Vested in Period	3,174	2,815	9,250
Payments to employees	$ 100,000	$ 200,000	$ 600,000
Repurchase of common stock for employee tax withholding obligations amount	$ 1,600,000	$ 1,700,000	$ 1,500,000
Repurchase of common stock for employee tax withholding obligations amount, shares	37,686	42,185	24,995,000
Unamortized cost	$ 6,300,000
Recognition period of unrecognized cost	1 year 2 months 12 days
Liabilities related to restricted stock	$ 200,000	$ 200,000
Paid to employees as shares		2,000,000.0	$ 200,000
2007 Plan \| Performance-based restricted stock units
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Awards with grant date fair value during the period	3,200,000
Payments to employees	0	2,600,000	5,600,000
Unamortized cost	$ 2,500,000
Recognition period of unrecognized cost	2 years 6 months
Liabilities related to restricted stock	$ 700,000	800,000
Paid to employees as shares	$ 0	$ 0	$ 3,400,000
Shares withheld			25,771
Shares withheld, value			$ 1,500,000

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

12 Months Ended

Dec. 31, 2021

Dec. 31, 2020

Dec. 31, 2019

Share-based compensation expense, net of income tax

$ 7,727

$ 2,653

$ 7,190

Income tax benefit

^[1]

(82)

0

(2,241)

7,645

2,653

4,949

Performance-based restricted stock units

Restricted Stock Awards And Restricted Stock Units

549

(2,187)

3,990

5,451

4,523

3,200

Stock Options

Options outstanding and exercisable Beginning Balance, Shares

$ 1,727

$ 317

$ 0

[1]

The 2021 income tax benefit amount primarily reflects the tax benefit associated with our Canadian-based employees. There was no income tax benefit in 2020 associated with our employees in the United States and the United Kingdom due to a valuation allowance on our deferred tax assets within these jurisdictions. Refer to Note 17 – Income Taxes.

Share-Based Compensation - Summary of Activity of the Outstanding PRSU Awards (Details) - Performance-based restricted stock units	12 Months Ended
	Dec. 31, 2021 $ / shares shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Beginning Balance, shares \| shares	61,208
Granted, shares \| shares	101,785
Vested, shares \| shares	0
Forfeited, shares \| shares	(28,841)
Ending Balance, shares \| shares	134,152
Beginning Balance, Weighted-Average Grant Date Fair Value \| $ / shares	$ 57.18
Granted, Weighted-Average Grant Date Fair Value \| $ / shares	31.28
Vested, Weighted-Average Grant Date Fair Value \| $ / shares	0
Forfeited, Weighted-Average Grant Date Fair Value \| $ / shares	58.25
Ending Balance, Weighted-Average Grant Date Fair Value \| $ / shares	$ 37.30
Beginning Balance, shares \| shares	121,485
Vested, shares \| shares	(42,698)
Forfeited, shares \| shares	(1,041)
Ending Balance, shares \| shares	77,746
Beginning Balance, Weighted-Average Grant Date Fair Value \| $ / shares	$ 56.34
Vested, Weighted-Average Grant Date Fair Value \| $ / shares	51.96
Forfeited, Weighted-Average Grant Date Fair Value \| $ / shares	56.90
Ending Balance, Weighted-Average Grant Date Fair Value \| $ / shares	$ 57.13

Share-Based Compensation - Summary of Activity of the Outstanding Restricted Stock Awards And Restricted Stock Units (Details)	12 Months Ended
	Dec. 31, 2021 $ / shares shares
Restricted Stock Awards
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Beginning Balance, shares \| shares	107,107
Granted, shares \| shares	22,560
Vested, shares \| shares	(50,596)
Forfeited, shares \| shares	(2,279)
Ending Balance, shares \| shares	76,792
Beginning Balance, Weighted-Average Grant Date Fair Value \| $ / shares	$ 53.23
Granted, Weighted-Average Grant Date Fair Value \| $ / shares	44.77
Vested, Weighted-Average Grant Date Fair Value \| $ / shares	49.92
Forfeited, Weighted-Average Grant Date Fair Value \| $ / shares	56.63
Ending Balance, Weighted-Average Grant Date Fair Value \| $ / shares	$ 52.83
Restricted Stock Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Beginning Balance, shares \| shares	151,261
Granted, shares \| shares	155,110
Vested, shares \| shares	(60,905)
Forfeited, shares \| shares	(6,278)
Ending Balance, shares \| shares	239,188
Beginning Balance, Weighted-Average Grant Date Fair Value \| $ / shares	$ 19.51
Granted, Weighted-Average Grant Date Fair Value \| $ / shares	43.24
Vested, Weighted-Average Grant Date Fair Value \| $ / shares	19.54
Forfeited, Weighted-Average Grant Date Fair Value \| $ / shares	25.09
Ending Balance, Weighted-Average Grant Date Fair Value \| $ / shares	$ 34.74
Beginning Balance, shares \| shares	10,459
Granted, shares \| shares	0
Vested, shares \| shares	(3,174)
Forfeited, shares \| shares	(1,007)
Ending Balance, shares \| shares	6,278
Beginning Balance, Weighted-Average Grant Date Fair Value \| $ / shares	$ 51.91
Granted, Weighted-Average Grant Date Fair Value \| $ / shares	0
Vested, Weighted-Average Grant Date Fair Value \| $ / shares	52.24
Forfeited, Weighted-Average Grant Date Fair Value \| $ / shares	37.20
Ending Balance, Weighted-Average Grant Date Fair Value \| $ / shares	$ 55.93

Share-Based Compensation - Summary of Stock Option Activity (Details) - USD ($)
$ / shares in Units, $ in Thousands

12 Months Ended

Dec. 31, 2021

Dec. 31, 2020

Options outstanding and exercisable

204,150

Granted, Shares

137,858

Exercised, Shares

0

Forfeited, Shares

(30,000)

Options outstanding at December 31, 2021

312,008

Options exercisable at December 31, 2021

27,075

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

$ 19.98

Granted, Weighted-Average Exercise Price

$ 44.80

Exercised, Weighted-Average Exercise Price

0

Forfeited, Weighted-Average Exercise Price

19.30

Options outstanding at December 31, 2021

31.01

Options exercisable at December 31, 2021

$ 21.85

Aggregate intrinsic value of options outstanding at December 31, 2021

^[1]

$ 3,952,701

Options exercisable at December 31, 2021

^[1]

$ 566,951

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

Share Based Compensation - Summary of Options Outstanding and Exercisable (Details) - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Exercise Price Range One
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range [Line Items]
Range of exercise prices	$ 19.30
Shares	120,000
Weighted-Average Remaining Contractual Life (in years)	7 years
Weighted-Average Exercise Price	$ 19.30
Shares	0
Weighted-Average Exercise Price	$ 0
Exercise Price Range Two
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range [Line Items]
Range of exercise prices	$ 21.85
Shares	54,150
Weighted-Average Remaining Contractual Life (in years)	5 years 7 months 24 days
Weighted-Average Exercise Price	$ 21.85
Shares	27,075
Weighted-Average Exercise Price	$ 21.85
Exercise Price Range Three
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range [Line Items]
Range of exercise prices	$ 44.80
Range of exercise prices		$ 21.85
Shares	137,858
Weighted-Average Remaining Contractual Life (in years)	6 years 1 month 24 days
Weighted-Average Exercise Price	$ 44.80
Shares	0
Weighted-Average Exercise Price	$ 0
Exercise Price Range Four
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range [Line Items]
Range of exercise prices	19.30
Range of exercise prices	$ 44.80
Shares	312,008
Weighted-Average Remaining Contractual Life (in years)	6 years 4 months 20 days
Weighted-Average Exercise Price	$ 31.01
Shares	27,075
Weighted-Average Exercise Price	$ 21.85

Share Based Compensation - Assumptions Used in the Black-Scholes Option Pricing Model to Estimate the Fair Value of Each Stock Option Grant (Details) - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range [Line Items]
Risk-free interest rate, Maximum	0.50%	0.31%
Expected life	4 years 6 months
Expected volatility, Maximum	55.80%	52.20%
Expected dividend yield	0.00%
Weighted average grant-date fair value per share of options granted	$ 20.26
Minimum [Member]
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range [Line Items]
Expected life		4 years 3 months 18 days
Maximum
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range [Line Items]
Expected life		5 years 4 months 24 days

Acquisitions - Narrative (Details) $ in Thousands, $ in Millions							12 Months Ended
	Mar. 18, 2021 CAD ($)	Mar. 18, 2021 USD ($)	Jul. 25, 2019 USD ($)	Jun. 08, 2019 CAD ($) Hotel	Jun. 08, 2019 USD ($) Hotel	May 16, 2019 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2019 USD ($)
Business Acquisition [Line Items]
Business combination net assets property and equipment		$ 2,200
Business combination net assets noncontrolling interest		6,800
Business combination net assets goodwill		11,800
Golden Skybridge
Business Acquisition [Line Items]
Purchase price	$ 15.0	$ 12,000
Acquisition related costs							$ 400
Business acquisition date	Mar. 18, 2021	Mar. 18, 2021
Business acquisition expected open period	2021-06	2021-06
Percentage of controlling interest acquired		60.00%
Golden Skybridge \| Development and Start Up Costs
Business Acquisition [Line Items]
Purchase price	$ 6.0	$ 4,800
Belton Chalet
Business Acquisition [Line Items]
Purchase price						$ 3,200
Acquisition related costs						$ 300
Business acquisition date						May 16, 2019
Mountain Park Lodges
Business Acquisition [Line Items]
Purchase price					$ 75,837
Acquisition related costs								$ 900
Business acquisition date				Jun. 08, 2019	Jun. 08, 2019
Business combination net assets property and equipment					$ 103,642
Percentage of controlling interest acquired					60.00%
Number of hotels acquired \| Hotel				7	7
Total consideration				$ 100.6	$ 76,000
Percentage of operations results consolidated to financial statements				100.00%	100.00%
Percentage of non-redeemable noncontrolling portion of income (loss) recorded in financial statements				40.00%	40.00%
Identifiable intangible assets acquired					$ 20,200
Weighted average amortization period				30 years 9 months 18 days	30 years 9 months 18 days
Sky Lagoon \| Pursuit \| Sky Lagoon
Business Acquisition [Line Items]
Percentage of controlling interest acquired			51.00%
Payments to acquire controlling interest			$ 13,200

Acquisitions - Schedule of Recognized Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Jun. 08, 2019	Dec. 31, 2021	Mar. 18, 2021	Dec. 31, 2020	Dec. 31, 2019
Business Acquisition [Line Items]
Property and equipment			$ 2,200
Goodwill		$ 112,078		$ 99,847	$ 287,983
Mountain Park Lodges
Business Acquisition [Line Items]
Purchase price	$ 75,837
Net working capital adjustment	18
Consideration transferred	75,855
Right to manage	(1,276)
Purchase price, net	74,579
Accounts receivable	333
Inventories	152
Prepaid expenses	276
Property and equipment	103,642
Intangible assets	20,180
Total assets acquired	124,583
Accounts payable	329
Advanced deposits payable	400
Deferred tax liability	19,734
Other liabilities	16
Total liabilities assumed	20,479
Noncontrolling interest equity	49,719
Total fair value of net assets acquired	54,385
Goodwill	$ 20,194

Acquisitions - Schedule of Proforma Results of Operations (Details) - Mountain Park Lodges $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2019 USD ($) $ / shares
Business Acquisition [Line Items]
Revenue	$ 1,310,997
Depreciation and amortization	61,597
Income from continuing operations	22,195
Net income attributable to Viad	$ 21,337
Diluted income per share \| $ / shares	$ 0.99
Basic income per share \| $ / shares	$ 0.99

Inventories - Components of Inventories (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Components of Inventories
Raw materials	$ 2,350	$ 3,362
Finished goods	6,231	5,365
Inventories	$ 8,581	$ 8,727

Other Current Assets - Schedule of Other Current Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepaid software maintenance	$ 4,154	$ 3,058
Restricted cash	2,703	2,426
Income tax receivable	1,901	337
Prepaid vendor payments	1,604	1,835
Prepaid taxes	456	345
Prepaid other	1,165	1,296
Other	2,097	3,631
Other current assets	$ 14,080	$ 12,928

Property and Equipment, Net - Schedule of Property and Equipment (Details) - USD ($)
$ in Thousands

Dec. 31, 2021

Dec. 31, 2020

Property and equipment, net (excluding finance leases)

$ 852,146

$ 820,888

Accumulated depreciation

(364,060)

(352,100)

488,086

468,788

Finance lease ROU assets, net

^[1]

$ 61,022

23,366

Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]

Property and equipment, net

$ 549,108

492,154

Land and land interests

Buildings and leasehold improvements

^[2]

30,532

32,849

407,930

386,751

Equipment and other

$ 413,684

$ 401,288

[1]	The increase in finance lease ROU assets, net is primarily due to the commencement of Pursuit’s Sky Lagoon attraction in Iceland during 2021.
[2]	Land and land interests include certain leasehold interests in land within Pursuit for which we are considered to have perpetual use rights. The carrying amount of these leasehold interests was $8.4 million as of December 31, 2021 and $8.3 million as of December 31, 2020. These land interests are not subject to amortization.

Property and Equipment, Net - Schedule of Property and Equipment (Parenthetical) (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Property Plant And Equipment [Line Items]
Leasehold interests	$ 852,146	$ 820,888
Leasehold Land Interests \| Pursuit
Property Plant And Equipment [Line Items]
Leasehold interests	$ 8,400	$ 8,300

Property and Equipment, Net - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Property Plant And Equipment [Line Items]
Depreciation expense	$ 43,700	$ 46,500	$ 45,600
Property and equipment purchased through accounts payable and accrued liabilities, increased/decreased amount	2,300	6,900	4,200
Impairment charges	$ 0	203,076	5,346
Capitalized Software
Property Plant And Equipment [Line Items]
Impairment charges		$ 1,600
Audio Visual
Property Plant And Equipment [Line Items]
Impairment charges			$ 3,800

Other Investments and Assets - Summary of Other Investments and Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Investments, All Other Investments [Abstract]
Self-insured liability receivable	$ 6,847	$ 6,358
Other mutual funds	4,057	3,457
Contract costs	2,685	2,912
Other	3,129	2,765
Other investments and assets	$ 16,718	$ 15,492

Goodwill and Other Intangible Assets - Summary of Goodwill Balances by Component and Segment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Goodwill [Line Items]
Balance, beginning	$ 99,847	$ 287,983
Business acquisitions	11,776
Goodwill impairment		(185,789)
Foreign currency translation adjustments	455	(415)
Other		(1,932)
Balance, ending	112,078	99,847
GES
Goodwill [Line Items]
Balance, beginning		186,105
Business acquisitions
Goodwill impairment		(184,031)
Foreign currency translation adjustments		(2,074)
Other
Balance, ending
Pursuit
Goodwill [Line Items]
Balance, beginning	99,847	101,878
Business acquisitions	11,776
Goodwill impairment		(1,758)
Foreign currency translation adjustments	455	1,659
Other		(1,932)
Balance, ending	$ 112,078	$ 99,847

Goodwill and Other Intangible Assets - Goodwill by Reporting Unit (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Goodwill by reporting unit and segment
Goodwill	$ 112,078	$ 99,847	$ 287,983
GES
Goodwill by reporting unit and segment
Goodwill			186,105
Pursuit
Goodwill by reporting unit and segment
Goodwill	112,078	99,847	$ 101,878
Pursuit \| Banff Jasper Collection
Goodwill by reporting unit and segment
Goodwill	66,898	54,856
Pursuit \| Alaska Collection
Goodwill by reporting unit and segment
Goodwill	3,184	3,184
FlyOver Canada \| Pursuit
Goodwill by reporting unit and segment
Goodwill	$ 41,996	$ 41,807

Goodwill and Other Intangible Assets - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Segment Reporting Information [Line Items]
Goodwill impairment	$ 415,500	$ 415,500
Goodwill	112,078	99,847	$ 287,983
Impairment charge to intangible assets		15,700	1,500
Services
Segment Reporting Information [Line Items]
Intangible asset amortization expense	5,800	6,400	10,600
G E S U S
Segment Reporting Information [Line Items]
Goodwill impairment		185,800
GES
Segment Reporting Information [Line Items]
Goodwill			186,105
Pursuit
Segment Reporting Information [Line Items]
Goodwill impairment	112,100
Goodwill	$ 112,078	$ 99,847	$ 101,878

Goodwill and Other Intangible Assets - Summary of Other Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets, Net [Abstract]
Intangible assets subject to amortization, Gross Carrying Value	$ 99,689	$ 103,101
Intangible assets subject to amortization, Accumulated Amortization	(35,074)	(32,502)
Intangible assets subject to amortization, Net Carrying Value	64,615	70,599
Other intangible assets, Gross Carrying Value	100,263	103,674
Other intangible assets, Net Carrying Value	$ 65,189	71,172
Customer contracts and relationships
Finite-Lived Intangible Assets, Net [Abstract]
Intangible assets subject to amortization, Useful Life (Years)	6 years 1 month 6 days
Intangible assets subject to amortization, Gross Carrying Value	$ 36,848	38,214
Intangible assets subject to amortization, Accumulated Amortization	(28,372)	(26,288)
Intangible assets subject to amortization, Net Carrying Value	$ 8,476	11,926
Operating contracts and licenses
Finite-Lived Intangible Assets, Net [Abstract]
Intangible assets subject to amortization, Useful Life (Years)	35 years 8 months 12 days
Intangible assets subject to amortization, Gross Carrying Value	$ 40,927	42,012
Intangible assets subject to amortization, Accumulated Amortization	(2,660)	(2,405)
Intangible assets subject to amortization, Net Carrying Value	$ 38,267	39,607
In-place lease
Finite-Lived Intangible Assets, Net [Abstract]
Intangible assets subject to amortization, Useful Life (Years)	13 years 1 month 6 days
Intangible assets subject to amortization, Gross Carrying Value	$ 15,464	15,347
Intangible assets subject to amortization, Accumulated Amortization	(1,084)	(656)
Intangible assets subject to amortization, Net Carrying Value	$ 14,380	14,691
Tradenames
Finite-Lived Intangible Assets, Net [Abstract]
Intangible assets subject to amortization, Useful Life (Years)	4 years 4 months 24 days
Intangible assets subject to amortization, Gross Carrying Value	$ 5,626	5,940
Intangible assets subject to amortization, Accumulated Amortization	(2,819)	(2,435)
Intangible assets subject to amortization, Net Carrying Value	$ 2,807	3,505
Non-compete agreements
Finite-Lived Intangible Assets, Net [Abstract]
Intangible assets subject to amortization, Gross Carrying Value		770
Intangible assets subject to amortization, Accumulated Amortization		(616)
Intangible assets subject to amortization, Net Carrying Value		154
Other
Finite-Lived Intangible Assets, Net [Abstract]
Intangible assets subject to amortization, Useful Life (Years)	6 years 2 months 12 days
Intangible assets subject to amortization, Gross Carrying Value	$ 824	818
Intangible assets subject to amortization, Accumulated Amortization	(139)	(102)
Intangible assets subject to amortization, Net Carrying Value	685	716
Business licenses
Finite-Lived Intangible Assets, Net [Abstract]
Indefinite-lived intangible assets, Gross Carrying Value	574	$ 573
Other intangible assets, Net Carrying Value	$ 574

Goodwill and Other Intangible Assets - Estimated Future Amortization Expense Related to Intangible Assets Subject to Amortization (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Estimated amortization expense related to amortized intangible assets
2022	$ 5,121
2023	4,462
2024	3,505
2025	2,210
2026	2,181
Thereafter	47,136
Intangible assets subject to amortization, Net Carrying Value	$ 64,615	$ 70,599

Other Current Liabilities - Schedule of Other Current Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Continuing operations:
Self-insured liability	$ 4,815	$ 5,715
Accrued employee benefit costs	4,164	2,363
Commissions payable	4,119	903
Accrued sales and use taxes	3,428	1,547
Accrued professional fees	1,671	1,691
Current portion of pension and postretirement liabilities	1,637	1,805
Accommodation services deposits	892	304
Accrued restructuring	864	2,479
Accrued interest payable	228	3,042
Other taxes	1,042	1,872
Other	4,963	4,819
Total continuing operations	27,823	26,540
Discontinued operations:
Self-insured liability	312	347
Environmental remediation liabilities	60	61
Other	94	91
Total discontinued operations	466	499
Total other current liabilities	$ 28,289	$ 27,039

Other Deferred Items and Liabilities - Summary of Other Deferred Items and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Continuing operations:
Foreign deferred tax liability	$ 27,748	$ 21,336
Multi-employer pension plan withdrawal liability	14,260	15,864
Self-insured excess liability	6,847	6,358
Accrued compensation	5,696	5,821
Self-insured liability	5,119	6,662
Accrued restructuring	2,571	2,751
Other	2,758	1,479
Total continuing operations	64,999	60,271
Discontinued operations:
Environmental remediation liabilities	2,168	2,179
Self-insured liability	1,535	1,639
Other	251	539
Total discontinued operations	3,954	4,357
Total other deferred items and liabilities	$ 68,953	$ 64,628

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

Dec. 31, 2021

Dec. 31, 2020

Less unamortized debt issuance costs

$ (14,804)

$ (2,737)

Total debt

390,451

270,550

Finance lease obligations, 9.1% weighted-average interest rate at December 31, 2021 and 8.0% at December 31, 2020, due through 2067

^[1]

63,401

23,141

Financing arrangements

5,528

Total debt and finance obligations

^[2],[3]

459,380

293,691

Long-term debt and finance obligations

(12,800)

(8,335)

446,580

285,356

FlyOver Iceland Credit Facility

Fly Over Iceland Term Loan

^[4]

5,566

5,820

2021 Credit Facility | Revolving Credit Facility

^[4]

689

705

^[4]

399,000

2018 Credit Agreement

Less unamortized debt issuance costs

$ (2,100)

2018 Credit Agreement | Revolving Credit Facility

^[4]

$ 266,762

[1]	The increase in finance lease obligations is primarily due to the commencement of Pursuit’s Sky Lagoon attraction in Iceland during 2021, which has a 46-year lease term.
[2]	Cash paid for interest on debt was $25.9 million during 2021, $14.0 million during 2020, and $11.9 million during 2019.
[3]	The weighted-average interest rate on total debt (including unamortized debt issuance costs and commitment fees) was 6.4% for 2021, 4.6% for 2020 and 4.2% for 2019. The estimated fair value of total debt and finance leases was $328.9 million as of December 31, 2021 and $254.0 million as of December 31, 2020. The fair value of debt was estimated by discounting the future cash flows using rates currently available for debt of similar terms and maturity, which is a Level 2 measurement. Refer to Note 13 – Fair Value Measurements.
[4]	Represents the weighted-average interest rate in effect at the respective periods, including any applicable margin. The interest rates do not include amortization of debt issuance costs or commitment fees.

Debt and Finance Lease Obligations - Schedule of Long-term Debt and Finance Lease Obligations (Parenthetical) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Weighted average interest rate on long term debt	9.10%	8.00%
Fair value of debt	$ 328.9	$ 254.0
Cash paid for interest on debt	$ 25.9	$ 14.0	$ 11.9
Newsky Lagoon [Member]
Debt Instrument [Line Items]
Lease term	46 years
Revolving Credit Facility
Debt Instrument [Line Items]
Weighted average interest rate on long term debt	6.40%	4.60%	4.20%
FlyOver Iceland Credit Facility
Debt Instrument [Line Items]
Weighted average interest rate on long term debt	4.90%	4.90%
Fly Over Iceland Term Loan
Debt Instrument [Line Items]
Weighted average interest rate on long term debt	3.80%	3.80%
2018 Credit Agreement \| Revolving Credit Facility
Debt Instrument [Line Items]
Interest rate on credit facility		4.50%
Third Amended And Restated Credit Agreement [Member] \| Revolving Credit Facility
Debt Instrument [Line Items]
Interest rate on credit facility	5.50%

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

12 Months Ended

Dec. 01, 2021

Jul. 30, 2021

USD ($)

Jan. 08, 2021

Aug. 05, 2020

USD ($)

Dec. 31, 2021

USD ($)

Dec. 31, 2020

USD ($)

Jan. 01, 2022

USD ($)

Jan. 01, 2022

ISK (kr)

Dec. 31, 2020

ISK (kr)

Dec. 29, 2020

ISK (kr)

Oct. 15, 2020

ISK (kr)

Aug. 31, 2020

USD ($)

Feb. 15, 2019

USD ($)

Feb. 15, 2019

EUR (€)

Oct. 24, 2018

USD ($)

Write off unamortized debt

Fees

$ 9,200

$ 14,804

$ 2,737

Liabilities Current

$ 175,126

97,733

Insurance premium payment due term

12 months

Weighted average interest rate

3.64%

Revolving Credit Facility

Borrowing capacity on line of credit

$ 450,000

FlyOver Iceland Credit Facility

Line of Credit Facility, Maximum Borrowing Capacity

$ 5,600

€ 5.0

Mar. 01, 2025

Sep. 01, 2023

Mar. 01, 2022

Additional capital

$ 600

kr 5.0

^[1]

$ 5,566

5,820

^[1]

$ 5,566

5,820

Line Of Credit Facility Amendment Description

$ 5,600

€ 5.0

an addendum to the FlyOver Iceland Credit Facility effective January 8, 2021 wherein the principal payments were deferred for twelve months beginning December 1, 2020, with the first payment due December 1, 2021. The addendum also extended the maturity date to September 1, 2023. During the first quarter of 2021, we obtained a waiver of certain covenants to the FlyOver Iceland Credit Facility through December 2021. There were no other changes to the terms of the FlyOver Iceland Credit Facility.

Line Of Credit Facility Date Of First Required Payment1

Dec. 01, 2022

Dec. 01, 2021

Fly Over Iceland Term Loan

Line of Credit Facility, Maximum Borrowing Capacity

700

kr 90.0

^[1]

$ 689

705

^[1]

689

705

700

kr 90.0

2021 Credit Facility

Line of Credit Facility, Maximum Borrowing Capacity

$ 500,000

Loans Proceeds Offset

400,000

Fees

$ 14,800

Commitment fee percentage on line of credit

0.50%

2021 Credit Facility | Maximum | LIBOR rate [Member]

$ 500,000

2021 Credit Facility | Minimum [Member] | LIBOR rate [Member]

LIBOR plus 3.50% with an undrawn fee of 0.50%

2021 Credit Facility | Revolving Credit Facility

LIBOR plus 2.50% with an undrawn fee of 0.30%

Line of Credit Facility, Maximum Borrowing Capacity

$ 100,000

Minimum liquidity requirement

Jul. 30, 2026

$ 75,000

Remaining borrowing capacity on line of credit

87,400

100,000

Letters of Credit Outstanding

100,000

12,600

2021 Credit Facility | Revolving Credit Facility | LIBOR rate [Member]

$ 100,000

2021 Credit Facility | Revolving Credit Facility | Maximum

LIBOR plus 3.50%

Financial covenants leverage ratio step up

4.00%

Debt covenant, interest coverage ratio

2.50%

Leverage ratio

4.50%

2021 Credit Facility | Revolving Credit Facility | Minimum [Member]

2021 Credit Facility | Term Loan B

Interest coverage ratio

2.00%

Borrowing capacity on line of credit

$ 400,000

Line of Credit Facility, Maximum Borrowing Capacity

400,000

Loans Proceeds Offset

$ 327,000

Jul. 30, 2028

2021 Credit Facility | Term Loan B | LIBOR rate [Member]

$ 400,000

Second Amended And Restated Credit Agreement [Member]

5.00%, with a LIBOR floor of 0.50%

Write off unamortized debt

$ 2,100

Second Amended And Restated Credit Agreement [Member] | Revolving Credit Facility

Borrowing capacity on line of credit

$ 450,000

Oct. 24, 2023

^[1]

266,762

Second Amended And Restated Credit Agreement [Member] | Term Loan B

^[1]

$ 266,762

First Term Loan [Member] | Fly Over Iceland Term Loan

Loans Proceeds Offset

$ 400,000

Fees

$ 14,800

Interest coverage ratio

0.00%

Line of Credit Facility, Maximum Borrowing Capacity | kr

kr 10.0

Maximum borrowing capacity on credit facility | kr

Apr. 01, 2023

10.0

Line Of Term Loan Amendment Description

bears interest on a seven-day term deposit at the Central Bank of Iceland.

Second Term Loan [Member] | Fly Over Iceland Term Loan

Line of Credit Facility, Maximum Borrowing Capacity | kr

30.0

Maximum borrowing capacity on credit facility | kr

Oct. 01, 2024

kr 30.0

Third Term Loan [Member]

Line Of Term Loan Amendment Description

bears interest on a seven-day term deposit at the Central Bank of Iceland plus 3.07%. The third term loan for ISK 50.0 million was entered into effective December 29, 2020 with a maturity date of February 1, 2023 and bears interest at one-month Reykjavik InterBank Offered Rate (“REIBOR”) plus 4.99%. The Icelandic State Treasury guarantees supplemental loans provided by credit institutions to companies impacted by the COVID-19 pandemic. Accordingly, the Icelandic State Treasury guaranteed the repayment of up to 85% of the principal and interest on the ISK 10.0 million and ISK 30.0 million term loans and 70% of the principal amount on the ISK 50.0 million term loan.

Third Term Loan [Member] | Fly Over Iceland Term Loan

Line of Credit Facility, Maximum Borrowing Capacity | kr

kr 50.0

Maximum borrowing capacity on credit facility | kr

Feb. 01, 2023

kr 50.0

Line Of Term Loan Amendment Description

bears interest at one-month Reykjavik InterBank Offered Rate (“REIBOR”) plus 4.99%. The Icelandic State Treasury guarantees supplemental loans provided by credit institutions to companies impacted by the COVID-19 pandemic. Accordingly, the Icelandic State Treasury guaranteed the repayment of up to 85% of the principal and interest on the ISK 10.0 million and ISK 30.0 million term loans and 70% of the principal amount on the ISK 50.0 million term loan

[1]	Represents the weighted-average interest rate in effect at the respective periods, including any applicable margin. The interest rates do not include amortization of debt issuance costs or commitment fees.

Debt and Finance Lease Obligations - Schedule of Aggregate Annual Maturities of Long-term Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Total debt	$ 390,451	$ 270,550
Credit Facilities
Debt Instrument [Line Items]
2022	4,344
2023	5,621
2024	5,188
2025	5,083
2026	5,083
Thereafter	379,936
Total debt	$ 405,255

Amount, after unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations.

+ References + Details

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

Dec. 31, 2021

Dec. 31, 2020

Quoted Prices in Active Markets (Level 1)

$ 15,060

$ 3,459

15,060

3,459

Money market funds

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

^[1]

11,003

2

^[1]

11,003

2

Other mutual funds

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

^[2]

4,057

3,457

Net income (loss) attributable to Viad (diluted)

^[2]

$ 4,057

$ 3,457

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

Fair Value Measurements - Summary of Fair Value Assets Measured on Recurring Basis (Parenthetical) (Details) - Money market funds $ in Thousands	12 Months Ended
	Dec. 31, 2021 USD ($)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Realized gains on the investments	$ 0
Unrealized gains on the investments	$ 0

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

12 Months Ended

Dec. 31, 2021

Dec. 31, 2020

Dec. 31, 2019

Numerator:

$ (92,655)

$ (374,094)

$ 22,035

Less: Allocation to participating securities

(147)

Dividends on convertible preferred stock

(7,721)

(3,006)

Adjustment to the redemption value of redeemable noncontrolling interest

(1,797)

(926)

(1,318)

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

(102,173)

(378,026)

20,570

Add: Allocation to participating securities

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

$ (102,173)

$ (378,026)

$ 20,570

Denominator:

Basic weighted-average outstanding common shares

20,411

20,279

20,146

Additional dilutive shares related to share-based compensation

138

Diluted weighted-average outstanding shares

20,411

20,279

20,284

Basic income (loss) attributable to Viad common stockholders

$ (5.01)

$ (18.64)

$ 1.02

Diluted income (loss) attributable to Viad common stockholders

^[1]

$ (5.01)

$ (18.64)

$ 1.02

Paid in Cash

Numerator:

Dividends on convertible preferred stock

$ (3,900)

Paid in Kind

Numerator:

Dividends on convertible preferred stock

$ (3,821)

$ (3,006)

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

Income (Loss) Per Share - Schedule of Excluded Weighted-Average Potential Common Shares from Calculations of Diluted Net Income (Loss) Per Common Shares (Details) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Convertible Preferred Stock
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Common stock shares effect would be anti-dilutive	6,674	6,406
Unvested Restricted Share-Based Awards
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Common stock shares effect would be anti-dilutive	176	115	8
Unvested Performance Share-based Awards
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Common stock shares effect would be anti-dilutive	32
Stock Options
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Common stock shares effect would be anti-dilutive	194	24

Common and Preferred Stock - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions			6 Months Ended		12 Months Ended
	Aug. 05, 2020	Aug. 05, 2020	Dec. 31, 2021	Jun. 30, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Feb. 07, 2019
Class Of Stock [Line Items]
Junior participating preferred Stock, Authorized			2,000,000		2,000,000
Junior participating preferred Stock, Outstanding			0		0
Preferred Stock, Shares Authorized			5,000,000		5,000,000
Preferred Stock, Shares Outstanding			141,827		141,827
Common Stock Repurchases (Textual) [Abstract]
Authorized repurchase of additional shares								500,000
Repurchased shares						53,784	0
Shares remain available for repurchase						546,283
Common stock purchased for treasury						$ 2.8
Convertible Series A Preferred Stock
Class Of Stock [Line Items]
Dividends share-based compensation cash			$ 3.9
Preferred stock dividend rate percentage		5.50%
Frequency of periodic payment of cumulative dividend		quarterly
Convertible preferred stock conversion price per share	$ 21.25	$ 21.25
Dividends paid in kind				$ 3.8	$ 7.7
Crestview Partners \| Convertible Series A Preferred Stock
Class Of Stock [Line Items]
Effect on future earnings offset amount	$ 135.0
Convertible Preferred Stock, Shares Issued upon Conversion	135,000	135,000
Preferred Stock, Par value	$ 0.01	$ 0.01
Purchase price	$ 135.0	$ 135.0
Shares issued, price per share	$ 1,000	$ 1,000
Capital raising expense		$ 9.2

Accumulated Other Comprehensive Income (Loss) - Schedule of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning Balance	$ 174,099	$ 547,229
Ending Balance	91,838	174,099
Cumulative Foreign Currency Translation Adjustments
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning Balance	(16,686)	(23,799)
Other comprehensive income (loss) before reclassifications	524	7,113
Net other comprehensive income (loss)	524	7,113
Ending Balance	(16,162)	(16,686)
Unrecognized Net Actuarial Loss and Prior Service Credit, Net
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning Balance	(13,955)	(11,900)
Other comprehensive income (loss) before reclassifications	30	(27)
Amounts reclassified from AOCI, net of tax	2,658	(2,028)
Net other comprehensive income (loss)	2,688	(2,055)
Ending Balance	(11,267)	(13,955)
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning Balance	(30,641)	(35,699)
Other comprehensive income (loss) before reclassifications	554	7,086
Amounts reclassified from AOCI, net of tax	2,658	(2,028)
Net other comprehensive income (loss)	3,212	5,058
Ending Balance	$ (27,429)	$ (30,641)

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

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Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 848
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-Name Accounting Standards Codification
-Section 65
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-Publisher FASB
-Subparagraph (a)(3)(iii)(03)

Income Taxes - Narrative (Details) - USD ($)	12 Months Ended
Income Taxes - Narrative (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Operating Loss Carryforwards [Line Items]
Tax cuts and jobs act of 2017 complete accounting deemed repatriation federal tax	$ 5,200,000
Tax cuts and jobs act of 2017 complete accounting estimated payments of liability	1,000,000.0
Deferred Tax Assets, Gross	117,073,000	$ 99,188,000
Deferred Tax Assets, Valuation Allowance	$ 103,510,000	81,795,000
Cumulative loss incurred over the period	4 years
State income tax benefit	$ 4,000,000.0
Income tax expense benefit after elections	4,700,000	3,000,000.0
Deferred Tax Assets, Tax Credit Carryforwards	6,491,000	5,326,000
Operating Loss Carryforwards	28,500
Deferred Tax, Operating Loss Carryforwards	53,546,000	44,358,000
Liability for uncertain tax positions	300,000	300,000
Cash Refunds from Income Taxes	7,100,000	14,900,000
Paid Cash for Income Taxes			$ 17,200,000
Foreign Income Tax Credit
Operating Loss Carryforwards [Line Items]
Deferred Tax Assets, Tax Credit Carryforwards	5,700,000
U.S
Operating Loss Carryforwards [Line Items]
Research and development credit carryforwards	700,000
U.S \| Foreign Income Tax Credit
Operating Loss Carryforwards [Line Items]
Deferred Tax Assets, Tax Credit Carryforwards	$ 3,800,000
Tax credit carryforward expiration year	2022
Foreign Tax Authority \| Iceland And Poland
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	$ 13,900,000
Foreign Tax Authority \| Iceland And Poland \| Minimum [Member]
Operating Loss Carryforwards [Line Items]
Operating loss carry forwards expire period	5 years
Foreign Tax Authority \| Iceland And Poland \| Maximum
Operating Loss Carryforwards [Line Items]
Operating loss carry forwards expire period	10 years
Foreign Tax Authority \| CA
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	$ 13,800,000
Operating loss carry back period	3 years
Operating loss carryforwards period	20 years
Foreign Tax Authority \| Foreign Income Tax Credit \| United Kingdom
Operating Loss Carryforwards [Line Items]
Deferred Tax Assets, Tax Credit Carryforwards	$ 1,900,000
State and Foreign
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	366,800	$ 371,200,000
State and Local Jurisdiction
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	$ 154,300,000
State and Local Jurisdiction \| Latest Tax Year
Operating Loss Carryforwards [Line Items]
Tax credit carryforward expiration year	2022
State and Local Jurisdiction \| Earliest Tax Year
Operating Loss Carryforwards [Line Items]
Tax credit carryforward expiration year	2040

Income Taxes - Summary of Income from Continuing Operations before Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Extraordinary Items, Noncontrolling Interest [Abstract]
Foreign	$ (17,750)	$ (95,919)	$ 49,171
United States	(77,331)	(264,940)	(23,061)
Income (loss) from continuing operations before income taxes	$ (95,081)	$ (360,859)	$ 26,110

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Income Taxes - Summary of Significant Components of the Income Tax Provision From Continuing Operations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Current:
Federal	$ 49	$ (128)	$ (2,260)
State	(581)	674	1,400
Foreign	(7,268)	(1,397)	13,764
Total current	(7,800)	(851)	12,904
Deferred:
Federal	0	(17,171)	(3,355)
State	0	(2,896)	(1,619)
Foreign	6,012	(4,970)	(5,424)
Total deferred	6,012	15,097	(10,398)
Income tax (benefit) expense	$ (1,788)	$ 14,246	$ 2,506

Income Taxes - Reconciliation of Income Tax Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Effective Income Tax Rate Reconciliation, Amount [Abstract]
Computed income tax (benefit) expense at statutory federal income tax rate	$ (19,967)	$ (75,780)	$ 5,483
State income tax (benefit), net of federal benefit	(7,959)	(4,138)	(173)
Remeasurement of deferred taxes due to change in tax rates	0	0	(4,517)
Foreign tax rate differential	(672)	(401)	3,122
U.S. tax (benefit) on current year foreign earnings, net of foreign tax credits	0	0	(1,792)
Goodwill impairment	0	16,471	0
Change in valuation allowance	21,859	77,369	920
Restructuring	4,676	(3,002)	0
Other adjustments, net	275	3,727	(537)
Income tax (benefit) expense	$ (1,788)	$ 14,246	$ 2,506
Effective Income Tax Rate Reconciliation, Percent [Abstract]
Computed income tax (benefit) expense at statutory federal income tax rate	21.00%	21.00%	21.00%
State income tax (benefit), net of federal benefit	8.40%	1.10%	(0.20%)
Remeasurement of deferred taxes due to change in tax rates, tax rate	0.00%	0.00%	(17.30%)
Foreign tax differentials rate	0.70%	0.10%	12.00%
U.S. tax (benefit) on current year foreign earnings, net of foreign tax credits	(0.00%)	(0.00%)	(6.90%)
Goodwill impairment	0.00%	(4.60%)	0.00%
Change in valuation allowance, tax rate	(23.00%)	(21.30%)	1.80%
Restructuring	(4.90%)	0.80%	0.00%
Other adjustments, net, tax rate	(0.30%)	(1.00%)	(0.80%)
Income tax expense	1.90%	(3.90%)	9.60%

Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Deferred tax assets:
Tax credit carryforwards	$ 6,491	$ 5,326
Pension, compensation, and other employee benefits	14,755	11,991
Provisions for losses	3,979	4,623
Net operating loss carryforwards	53,546	44,358
Leases	2,557	(660)
Goodwill and other intangible assets	17,781	18,055
Other deferred income tax assets	17,964	14,175
Total deferred tax assets	117,073	99,188
Valuation allowance	(103,510)	(81,795)
Foreign deferred tax assets included above	(5,037)	(7,717)
United States net deferred tax assets	8,526	9,676
Deferred tax liabilities:
Property and equipment	(24,100)	(24,017)
Goodwill and other intangible assets	(11,651)	(8,846)
Leases	(339)	(857)
Other deferred income tax liabilities	(4,254)	(4,485)
Total deferred tax liabilities	(40,344)	(38,205)
Foreign deferred tax liabilities included above	(31,778)	(28,490)
United States net deferred tax assets	8,566	9,715	$ 22,434
United States net deferred tax assets (liabilities)	$ (40)	$ (39)

Income Taxes - Schedule of Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Unrecognized Tax Benefits, Beginning Balance	$ 250	$ 225	$ 370
Additions for tax positions taken in prior years	285	25	151
Reductions for lapse of applicable statutes			(296)
Unrecognized Tax Benefits, Ending Balance	$ 535	$ 250	$ 225

Pension and Postretirement Benefits - Components of Net Periodic Benefit Cost and Other Amounts Recognized in Other Comprehensive Income (Loss) of Viad's Postretirement Benefit Plans (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Net periodic benefit cost:
Settlement
Net periodic benefit cost	$ 295	$ 219	445
Reversal of amortization item:
Settlement income
Postretirement Benefit Plans
Net periodic benefit cost:
Service cost	70	51
Interest cost	180	296
Other changes in plan assets and benefit obligations recognized in other comprehensive income:
Net actuarial (gain) loss	(641)	688
Domestic Plans \| Pension Plans
Net periodic benefit cost:
Service cost	0	0	61
Interest cost	419	653	861
Expected return on plan assets	(47)	(145)	(99)
Recognized net actuarial loss	623	526	403
Net periodic benefit cost	995	1,034	1,226
Other changes in plan assets and benefit obligations recognized in other comprehensive income:
Net actuarial (gain) loss	(883)	1,587	1,305
Reversal of amortization item:
Net actuarial loss	(623)	(526)	(403)
Total recognized in other comprehensive income (loss)	(1,506)	1,061	902
Total recognized in net periodic benefit cost and other comprehensive income (loss)	(511)	2,095	2,128
Domestic Plans \| Postretirement Benefit Plans
Net periodic benefit cost:
Service cost	70	51	64
Interest cost	181	296	458
Amortization of prior service credit	(6)	(146)	(189)
Recognized net actuarial loss	115	18	112
Settlement	(65)
Net periodic benefit cost	360	219	445
Other changes in plan assets and benefit obligations recognized in other comprehensive income:
Net actuarial (gain) loss	(642)	688	(1,117)
Prior service credit	0	0
Reversal of amortization item:
Net actuarial loss	(115)	(18)	(112)
Prior service credit	6	146	189
Settlement income	65
Total recognized in other comprehensive income (loss)	(686)	816	(1,040)
Total recognized in net periodic benefit cost and other comprehensive income (loss)	(391)	1,035	(595)
Foreign Pension Plans
Net periodic benefit cost:
Service cost	457	444	405
Interest cost	339	365	397
Expected return on plan assets	(508)	(530)	(487)
Recognized net actuarial loss	171	162	127
Settlement	0	0	0
Net periodic benefit cost	459	441	442
Other changes in plan assets and benefit obligations recognized in other comprehensive income:
Net actuarial (gain) loss	(375)	368	605
Reversal of amortization item:
Net actuarial loss	(171)	(162)	(127)
Settlement income	0	0	0
Total recognized in other comprehensive income (loss)	546	206	478
Total recognized in net periodic benefit cost and other comprehensive income (loss)	$ 87	$ 647	$ 920

Pension and Postretirement Benefits - Summary of Funded Status of the Plans (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Domestic Plans
Change in plan assets:
Fair value of plan assets at beginning of year	$ 11,878
Fair value of plan assets at end of year	11,647	$ 11,878
Foreign Pension Plans
Change in benefit obligation:
Service cost	457	444	$ 405
Interest cost	339	365	397
Actuarial adjustments	(375)	368	605
Change in plan assets:
Fair value of plan assets at beginning of year	10,798
Fair value of plan assets at end of year	11,171	10,798
Foreign Pension Plans \| Funded Plans
Change in benefit obligation:
Benefit obligation at beginning of year	10,916	9,990
Service cost	457	444
Interest cost	270	295
Actuarial adjustments	(475)	686
Benefits paid	(462)	(743)
Translation adjustment	84	244
Benefit obligation at end of year	10,790	10,916	9,990
Change in plan assets:
Fair value of plan assets at beginning of year	10,798	10,013
Actual return on plan assets	623	1,044
Company contributions	133	253
Benefits paid	(462)	(743)
Translation adjustment	79	231
Fair value of plan assets at end of year	11,171	10,798	10,013
Funded status at end of year	(381)	(118)
Foreign Pension Plans \| Unfunded Pension Plans
Change in benefit obligation:
Benefit obligation at beginning of year	2,449	2,331
Service cost	0	0
Interest cost		69	70
Actuarial adjustments		208	111
Benefits paid		(185)	(180)
Translation adjustment		71	117
Benefit obligation at end of year	2,470	2,449	2,331
Change in plan assets:
Fair value of plan assets at beginning of year	0	0
Actual return on plan assets	0	0
Company contributions		185	180
Benefits paid		(185)	(180)
Translation adjustment	0	0
Fair value of plan assets at end of year	0	0	0
Funded status at end of year	(2,470)	(2,449)
Pension Plans \| Funded Plans
Change in benefit obligation:
Service cost	0	0
Pension Plans \| Unfunded Pension Plans
Change in benefit obligation:
Service cost	0	0
Pension Plans \| Domestic Plans
Change in benefit obligation:
Service cost	0	0	61
Interest cost	419	653	861
Actuarial adjustments	(883)	1,587	1,305
Pension Plans \| Domestic Plans \| Funded Plans
Change in benefit obligation:
Benefit obligation at beginning of year	16,331	15,572
Interest cost	266	406
Actuarial adjustments	(385)	1,242
Benefits paid	(1,021)	(889)
Benefit obligation at end of year	15,191	16,331	15,572
Change in plan assets:
Fair value of plan assets at beginning of year	11,878	11,291
Actual return on plan assets	436	584
Company contributions	354	892
Benefits paid	(1,021)	(889)
Fair value of plan assets at end of year	11,647	11,878	11,291
Funded status at end of year	(3,544)	(4,453)
Pension Plans \| Domestic Plans \| Unfunded Pension Plans
Change in benefit obligation:
Benefit obligation at beginning of year	9,776	9,462
Service cost		0
Interest cost	153	247
Actuarial adjustments	(109)	784
Benefits paid	(650)	(717)
Benefit obligation at end of year	9,170	9,776	9,462
Change in plan assets:
Company contributions	650	717
Benefits paid	(650)	(717)
Funded status at end of year	(9,170)	(9,776)
Postretirement Benefit Plans
Change in benefit obligation:
Benefit obligation at beginning of year	12,219	11,986
Service cost	70	51
Interest cost	180	296
Actuarial adjustments	(641)	688
Benefits paid	(1,694)	(802)
Benefit obligation at end of year	10,134	12,219	11,986
Change in plan assets:
Company contributions	1,694	802
Benefits paid	(1,694)	(802)
Funded status at end of year	(10,134)	(12,219)
Postretirement Benefit Plans \| Domestic Plans
Change in benefit obligation:
Service cost	70	51	64
Interest cost	181	296	458
Actuarial adjustments	$ (642)	$ 688	$ (1,117)

Pension and Postretirement Benefits - Net Amount Recognized in Consolidated Balance Sheets (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Domestic Plans \| Pension Plans \| Funded Plans
Net amounts recognized in Viad's consolidated balance sheets under the caption Pension and postretirement benefits
Net amount recognized	$ 3,544	$ 4,453
Domestic Plans \| Pension Plans \| Unfunded Pension Plans
Net amounts recognized in Viad's consolidated balance sheets under the caption Pension and postretirement benefits
Net amount recognized	9,170	9,776
Domestic Plans \| Postretirement Benefit Plans
Net amounts recognized in Viad's consolidated balance sheets under the caption Pension and postretirement benefits
Net amount recognized	10,134	12,219
Foreign Pension Plans \| Funded Plans
Net amounts recognized in Viad's consolidated balance sheets under the caption Pension and postretirement benefits
Net amount recognized	384	118
Foreign Pension Plans \| Unfunded Pension Plans
Net amounts recognized in Viad's consolidated balance sheets under the caption Pension and postretirement benefits
Net amount recognized	2,481	2,449
Non Current Assets \| Foreign Pension Plans \| Funded Plans
Net amounts recognized in Viad's consolidated balance sheets under the caption Pension and postretirement benefits
Net amount recognized	(384)	(31)
Non Current Assets \| Foreign Pension Plans \| Unfunded Pension Plans
Net amounts recognized in Viad's consolidated balance sheets under the caption Pension and postretirement benefits
Net amount recognized	0	0
Other current liabilities \| Domestic Plans \| Pension Plans \| Unfunded Pension Plans
Net amounts recognized in Viad's consolidated balance sheets under the caption Pension and postretirement benefits
Net amount recognized	701	687
Other current liabilities \| Domestic Plans \| Postretirement Benefit Plans
Net amounts recognized in Viad's consolidated balance sheets under the caption Pension and postretirement benefits
Net amount recognized	755	931
Other current liabilities \| Foreign Pension Plans \| Funded Plans
Net amounts recognized in Viad's consolidated balance sheets under the caption Pension and postretirement benefits
Net amount recognized	0	0
Other current liabilities \| Foreign Pension Plans \| Unfunded Pension Plans
Net amounts recognized in Viad's consolidated balance sheets under the caption Pension and postretirement benefits
Net amount recognized	181	187
Non Current Liabilities \| Domestic Plans \| Pension Plans \| Funded Plans
Net amounts recognized in Viad's consolidated balance sheets under the caption Pension and postretirement benefits
Net amount recognized	3,544	4,453
Non Current Liabilities \| Domestic Plans \| Pension Plans \| Unfunded Pension Plans
Net amounts recognized in Viad's consolidated balance sheets under the caption Pension and postretirement benefits
Net amount recognized	8,469	9,089
Non Current Liabilities \| Domestic Plans \| Postretirement Benefit Plans
Net amounts recognized in Viad's consolidated balance sheets under the caption Pension and postretirement benefits
Net amount recognized	9,379	11,288
Non Current Liabilities \| Foreign Pension Plans \| Funded Plans
Net amounts recognized in Viad's consolidated balance sheets under the caption Pension and postretirement benefits
Net amount recognized	0	149
Non Current Liabilities \| Foreign Pension Plans \| Unfunded Pension Plans
Net amounts recognized in Viad's consolidated balance sheets under the caption Pension and postretirement benefits
Net amount recognized	$ 2,300	$ 2,262

Pension and Postretirement Benefits - Amounts Recognized in AOCI (Details) - Domestic Plans - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Pension Plans \| 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	$ 8,025	$ 9,252
Subtotal	8,025	9,252
Less tax effect	0	0
Total	8,025	9,252
Pension Plans \| 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	3,129	3,409
Subtotal	3,129	3,409
Less tax effect		0
Total	3,129	3,409
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	1,299	1,990
Prior service credit	195	189
Subtotal	1,494	2,179
Less tax effect	0	0
Total	1,494	2,179
US Postretirement and Pension Plan
Amounts recognized in accumulated other comprehensive income
Pension and Other Postretirement Benefit Plans, Accumulated Other Comprehensive Income (Loss), Net Gains (Losses), before Tax	12,453	14,651
Prior service credit	195	189
Subtotal	12,648	14,840
Less tax effect	0	0
Total	$ 12,648	$ 14,840

Pension and Postretirement Benefits - Fair Value of the Plans' Assets by Asset Class (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Domestic Plans
Defined Benefit Plan Disclosure [Line Items]
Fair value measurement domestic pension plans	$ 11,647	$ 11,878
Domestic Plans \| Fixed Income Securities
Defined Benefit Plan Disclosure [Line Items]
Fair value measurement domestic pension plans	5,935	6,430
Domestic Plans \| Equity Securities
Defined Benefit Plan Disclosure [Line Items]
Fair value measurement domestic pension plans	5,297	4,485
Domestic Plans \| Cash
Defined Benefit Plan Disclosure [Line Items]
Fair value measurement domestic pension plans	230	774
Domestic Plans \| Other
Defined Benefit Plan Disclosure [Line Items]
Fair value measurement domestic pension plans	185	189
Foreign Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Fair value measurement domestic pension plans	11,171	10,798
Foreign Pension Plans \| Fixed Income Securities
Defined Benefit Plan Disclosure [Line Items]
Fair value measurement domestic pension plans	6,534	5,450
Foreign Pension Plans \| Equity Securities
Defined Benefit Plan Disclosure [Line Items]
Fair value measurement domestic pension plans	4,439	5,153
Foreign Pension Plans \| Other
Defined Benefit Plan Disclosure [Line Items]
Fair value measurement domestic pension plans	198	195
Quoted Prices in Active Markets (Level 1) \| Domestic Plans
Defined Benefit Plan Disclosure [Line Items]
Fair value measurement domestic pension plans	11,462	11,689
Quoted Prices in Active Markets (Level 1) \| Domestic Plans \| Fixed Income Securities
Defined Benefit Plan Disclosure [Line Items]
Fair value measurement domestic pension plans	5,935	6,430
Quoted Prices in Active Markets (Level 1) \| Domestic Plans \| Equity Securities
Defined Benefit Plan Disclosure [Line Items]
Fair value measurement domestic pension plans	5,297	4,485
Quoted Prices in Active Markets (Level 1) \| Domestic Plans \| Cash
Defined Benefit Plan Disclosure [Line Items]
Fair value measurement domestic pension plans	230	774
Quoted Prices in Active Markets (Level 1) \| Domestic Plans \| Other
Defined Benefit Plan Disclosure [Line Items]
Fair value measurement domestic pension plans	0	0
Quoted Prices in Active Markets (Level 1) \| Foreign Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Fair value measurement domestic pension plans	11,171	10,798
Quoted Prices in Active Markets (Level 1) \| Foreign Pension Plans \| Fixed Income Securities
Defined Benefit Plan Disclosure [Line Items]
Fair value measurement domestic pension plans	6,534	5,450
Quoted Prices in Active Markets (Level 1) \| Foreign Pension Plans \| Equity Securities
Defined Benefit Plan Disclosure [Line Items]
Fair value measurement domestic pension plans	4,439	5,153
Quoted Prices in Active Markets (Level 1) \| Foreign Pension Plans \| Other
Defined Benefit Plan Disclosure [Line Items]
Fair value measurement domestic pension plans	198	195
Significant Other Observable Inputs (Level 2) \| Domestic Plans
Defined Benefit Plan Disclosure [Line Items]
Fair value measurement domestic pension plans	185	189
Significant Other Observable Inputs (Level 2) \| Domestic Plans \| Fixed Income Securities
Defined Benefit Plan Disclosure [Line Items]
Fair value measurement domestic pension plans	0	0
Significant Other Observable Inputs (Level 2) \| Domestic Plans \| Equity Securities
Defined Benefit Plan Disclosure [Line Items]
Fair value measurement domestic pension plans	0	0
Significant Other Observable Inputs (Level 2) \| Domestic Plans \| Cash
Defined Benefit Plan Disclosure [Line Items]
Fair value measurement domestic pension plans	0	0
Significant Other Observable Inputs (Level 2) \| Domestic Plans \| Other
Defined Benefit Plan Disclosure [Line Items]
Fair value measurement domestic pension plans	185	189
Significant Other Observable Inputs (Level 2) \| Foreign Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Fair value measurement domestic pension plans	0	0
Significant Other Observable Inputs (Level 2) \| Foreign Pension Plans \| Fixed Income Securities
Defined Benefit Plan Disclosure [Line Items]
Fair value measurement domestic pension plans	0	0
Significant Other Observable Inputs (Level 2) \| Foreign Pension Plans \| Equity Securities
Defined Benefit Plan Disclosure [Line Items]
Fair value measurement domestic pension plans	0	0
Significant Other Observable Inputs (Level 2) \| Foreign Pension Plans \| Other
Defined Benefit Plan Disclosure [Line Items]
Fair value measurement domestic pension plans	0	0
Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Fair value measurement domestic pension plans	0
Significant Unobservable Inputs (Level 3) \| Domestic Plans
Defined Benefit Plan Disclosure [Line Items]
Fair value measurement domestic pension plans		0
Significant Unobservable Inputs (Level 3) \| Domestic Plans \| Fixed Income Securities
Defined Benefit Plan Disclosure [Line Items]
Fair value measurement domestic pension plans	0	0
Significant Unobservable Inputs (Level 3) \| Domestic Plans \| Equity Securities
Defined Benefit Plan Disclosure [Line Items]
Fair value measurement domestic pension plans	0	0
Significant Unobservable Inputs (Level 3) \| Domestic Plans \| Cash
Defined Benefit Plan Disclosure [Line Items]
Fair value measurement domestic pension plans	0	0
Significant Unobservable Inputs (Level 3) \| Domestic Plans \| Other
Defined Benefit Plan Disclosure [Line Items]
Fair value measurement domestic pension plans	0	0
Significant Unobservable Inputs (Level 3) \| Foreign Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Fair value measurement domestic pension plans	0	0
Significant Unobservable Inputs (Level 3) \| Foreign Pension Plans \| Fixed Income Securities
Defined Benefit Plan Disclosure [Line Items]
Fair value measurement domestic pension plans	0	0
Significant Unobservable Inputs (Level 3) \| Foreign Pension Plans \| Equity Securities
Defined Benefit Plan Disclosure [Line Items]
Fair value measurement domestic pension plans	0	0
Significant Unobservable Inputs (Level 3) \| Foreign Pension Plans \| Other
Defined Benefit Plan Disclosure [Line Items]
Fair value measurement domestic pension plans	$ 0	$ 0

Pension and Postretirement Benefits - Payments and Receipts Reflecting Expected Future Service (Details) $ in Thousands	Dec. 31, 2021 USD ($)
Foreign Pension Plans \| Funded Plans
Expected future service expected to be paid
2022	$ 1,872
2023	384
2024	384
2025	383
2026	381
2027-2030	1,922
Foreign Pension Plans \| Unfunded Pension Plans
Expected future service expected to be paid
2022	182
2023	181
2024	181
2025	180
2026	179
2027-2030	875
Pension Plans \| Domestic Plans \| Funded Plans
Expected future service expected to be paid
2022	1,094
2023	1,036
2024	1,001
2025	1,068
2026	1,053
2027-2030	4,578
Pension Plans \| Domestic Plans \| Unfunded Pension Plans
Expected future service expected to be paid
2022	711
2023	694
2024	677
2025	659
2026	638
2027-2030	2,851
Postretirement Benefit Plans \| Domestic Plans
Expected future service expected to be paid
2022	766
2023	763
2024	758
2025	732
2026	714
2027-2030	$ 3,035

Pension and Postretirement Benefits - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Defined Benefit Plan Disclosure [Line Items]
Multiemployer plans, withdrawal obligation			$ 15.5
Multiemployer plans, plan contributions			0.2
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%
Expense associated with other employee benefit plans	$ 2.2
401(k) plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Percentage of employer matching contribution with employee gross pay	100.00%
Percentage of employer matching contribution match with 100 percent	3.00%
Percentage of employer matching contribution	50.00%
Percentage of employer matching contribution match with 50 percent	2.00%
Expense associated with other employee benefit plans		$ 1.7	$ 5.0
Postretirement Benefit Plans
Defined Benefit Plan Disclosure [Line Items]
Amount expected to contribute in postretirement benefit plans	$ 0.8
Funded Plans \| Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Amount expected to contribute in funded pension plans	0.9
Unfunded Pension Plans \| Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Amount expected to contribute in unfunded pension plans	0.9
Foreign Pension Plans \| Funded Plans
Defined Benefit Plan Disclosure [Line Items]
Net actuarial losses for the foreign funded plans recognized in AOCI (before tax)	(2.0)	(2.7)
Net actuarial losses for the foreign funded plans recognized in AOCI (after tax)	1.4	(2.0)
Foreign Pension Plans \| Unfunded Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Net actuarial losses for the foreign funded plans recognized in AOCI (after tax)	1.0
Net actuarial losses for the foreign unfunded plans recognized in AOCI (before tax)		(0.8)
Net actuarial losses for the foreign unfunded plans recognized in AOCI (after tax)	$ (0.8)	$ (0.6)

Pension and Postretirement Benefits - Accumulated Benefit Obligation in Excess of Plan Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Domestic Plans \| Funded Plans
Accumulated benefit obligation in excess of plan assets
Projected benefit obligation	$ 15,191	$ 16,331
Accumulated benefit obligation	15,191	16,331
Fair value of plan assets	11,647	11,878
Domestic Plans \| Unfunded Pension Plans
Accumulated benefit obligation in excess of plan assets
Projected benefit obligation	9,170	9,776
Accumulated benefit obligation	9,170	9,776
Fair value of plan assets	0	0
Foreign Pension Plans \| Funded Plans
Accumulated benefit obligation in excess of plan assets
Projected benefit obligation	10,790	10,916
Accumulated benefit obligation	10,150	10,447
Fair value of plan assets	11,171	10,798
Foreign Pension Plans \| Unfunded Pension Plans
Accumulated benefit obligation in excess of plan assets
Projected benefit obligation	2,470	2,449
Accumulated benefit obligation	2,470	2,449
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, 2021	Dec. 31, 2020
Foreign Pension Plans
Weighted-average assumptions used to determine benefit obligations
Discount rate	2.80%	2.34%
Rate of compensation increase	2.35%	2.35%
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract]
Discount rate	2.34%	2.93%
Expected return on plan assets	3.76%	4.39%
Rate of compensation increase	2.35%	2.35%
Pension Plans \| Domestic Plans \| Funded Plans
Weighted-average assumptions used to determine benefit obligations
Discount rate	2.76%	2.38%
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract]
Discount rate	2.32%	3.12%
Expected return on plan assets	4.75%	5.50%
Pension Plans \| Domestic Plans \| Unfunded Pension Plans
Weighted-average assumptions used to determine benefit obligations
Discount rate	2.74%	2.35%
Rate of compensation increase		3.00%
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract]
Discount rate	2.35%	3.13%
Rate of compensation increase	3.00%	3.00%
Postretirement Benefit Plans \| Domestic Plans
Weighted-average assumptions used to determine benefit obligations
Discount rate	2.85%	2.47%
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract]
Discount rate	2.47%	3.19%
Expected return on plan assets	0.00%	0.00%

Pension and Postretirement Benefits - Multi-Employer Pension Plans (Details) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2021

Dec. 31, 2020

Dec. 31, 2019

36-1169950

Western Conference of Teamsters Pension Plan

$ 7,057

$ 8,592

$ 27,283

91-6145047

001

Green

No

$ 2,571

$ 2,898

6,754

Southern California Local 831-Employer Pension Fund

No

^[1]

95-6376874

001

^[1]

Green

^[1]

No

^[1]

$ 302

$ 943

3,427

IBEW Local Union No 357 Pension Plan A

^[1]

No

88-6023284

001

Green

No

$ 628

$ 843

1,074

Chicago Regional Council of Carpenters Pension Fund

No

36-6130207

001

Green

Implemented

$ 658

$ 608

2,877

No

Electrical Contractors Assoc. Chicago Local Union 134, IBEW Joint Pension Trust of Chicago Plan 2

May 31, 2024

^[2]

51-6030753

002

^[2]

Green

^[2]

No

^[2]

$ 306

$ 509

1,651

Machinery Movers Riggers & Mach Erect Local 136 Supplemental Retirement Plan(1),

^[2]

No

^[1]

36-1416355

011

^[1]

Yellow

Implemented

^[1]

$ 176

$ 337

797

^[1]

Yes

Southwest Carpenters Pension Trust

^[1]

Jun. 30, 2024

95-6042875

001

Green

No

$ 352

$ 195

717

No

Sign Pictorial & Display Industry Pension Plan

Jul. 31, 2023

^[1]

94-6278490

001

^[1]

Green

^[1]

No

^[1]

$ 76

$ 92

768

Southern California IBEW-NECA Pension Fund

^[1]

No

95-6392774

001

Yellow

Implemented

$ 7

$ 89

799

New England Teamsters & Trucking Industry Pension

Yes

04-6372430

001

Red

Implemented

$ 109

$ 42

506

No

Central States, Southeast and Southwest Areas Pension Plan

Mar. 31, 2022

36-6044243

001

Red

Implemented

$ 12

$ 7

872

No

Mar. 31, 2023

All other funds

^[2]

$ 929

963

3,625

Pension Plans

Total contributions to other plans

6,126

7,526

23,867

$ 931

$ 1,066

$ 3,416

[1]	We contributed more than 5% of total plan contributions for the plan year detailed in the plans’ most recent Form 5500s.
[2]	Represents participation in 27 pension funds during 2021.

Pension and Postretirement Benefits - Multi-Employer Pension Plans (Parenthetical) (Details) - 12 months ended Dec. 31, 2021	Total	ft²	PensionFund
Retirement Benefits [Abstract]
Percentage of excess employer contributions	5.00%
Aggregate number of funds		5,500	27

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

12 Months Ended

Dec. 31, 2021

Dec. 31, 2020

Dec. 31, 2019

$ 5,230

$ 4,513

$ 2,251

6,066

13,440

8,380

(5,899)

(10,825)

(6,193)

Non-cash items

^[1]

(1,906)

(1,789)

(56)

(109)

75

GES | Severance & Employee Benefits

3,435

5,230

4,513

2,440

2,935

2,039

1,829

6,563

6,071

(2,302)

(7,051)

(5,169)

9

(7)

(6)

1,976

2,440

2,935

GES | Facilities

2,766

1,339

200

4,107

5,784

1,817

(3,506)

(2,573)

(752)

Non-cash items

^[1]

(1,906)

(1,789)

(28)

5

74

Other Restructuring | Severance & Employee Benefits

1,433

2,766

1,339

24

239

12

130

1,093

492

(91)

(1,201)

(272)

(37)

(107)

7

$ 26

$ 24

$ 239

[1]

Represents non-cash adjustments related to a write down of certain ROU assets as a result of vacating certain facilities prior to the lease term during the year ended December 31, 2021 and the closure and liquidation of GES’ United Kingdom-based audio-visual services business during the year ended December 31, 2020.

Restructuring Charges - Narrative (Details) $ in Millions	Dec. 31, 2021 USD ($)
Restructuring and Related Activities [Abstract]
Payments of liabilities related to severance and employee benefits	$ 1.5

Leases and Other - Summary of Balance Sheet Presentation of Operating and Finance Leases (Details) - USD ($)
$ in Thousands

Dec. 31, 2021

Dec. 31, 2020

Operating lease obligations

Operating lease assets

$ 95,915

$ 82,739

Finance lease assets

^[1]

61,022

23,366

Total lease assets

156,937

106,105

12,451

$ 15,697

Finance lease obligations

$ 2,928

Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]

Long-term Debt and Lease Obligation, Current

Operating lease, Liability, Long-term portion

$ 93,406

$ 70,150

Finance lease, Liability, Long-term portion

$ 60,473

Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]

Long-term Debt and Lease Obligation

Total lease liabilities

$ 169,258

$ 108,988

Operating Lease Right-of-Use Assets

Property and Equipment, Net

Operating lease assets

95,915

82,739

Operating Lease Obligations

Finance lease assets

61,022

23,366

Operating lease obligations

12,451

15,697

Current Portion of Debt and Finance Lease Obligations

Finance lease obligations

2,928

2,514

Long-Term Operating Lease Obligations

Operating lease, Liability, Long-term portion

93,406

70,150

Long-Term Debt and Finance Lease Obligations

Finance lease, Liability, Long-term portion

^[2]

$ 60,473

$ 20,627

[1]	The increase in finance lease ROU assets, net is primarily due to the commencement of Pursuit’s Sky Lagoon attraction in Iceland during 2021.
[2]	The increase in finance lease assets and obligations is primarily due to the commencement of Pursuit’s Sky Lagoon attraction in Iceland during the first quarter of 2021, which has a 46-year lease term.

Leases and Other - Summary of Balance Sheet Presentation of Operating and Finance Leases (Parenthetical) (Details)	Mar. 31, 2021
Sky Lagoon Attraction [Member]
Lessee, Lease, Description [Line Items]
Lease term	46 years

Leases and Other - Components of Least Expenses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Finance lease cost:
Amortization of ROU assets	$ 4,280	$ 3,662
Interest on lease liabilities	5,580	1,668
Operating lease cost	23,129	27,259
Short-term lease cost	1,444	701
Variable lease cost	4,372	5,672
Total lease cost, net	$ 38,805	$ 38,962

Leases and Other - Schedule of Other Information Related to Operating and Finance Leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$ 23,320	$ 26,250
Operating cash flows from finance leases	3,926	1,948
Financing cash flows from finance leases	3,223	3,543
ROU assets obtained in exchange for lease obligations:
Operating leases	38,838	659
Finance leases	$ 43,241	$ 2,141
Weighted-average remaining lease term (years):
Operating leases	8 years 6 months 14 days	8 years 4 months 20 days
Finance leases	34 years 11 months 12 days	13 years 11 months 19 days
Weighted-average discount rate:
Operating leases	6.86%	6.93%
Finance leases	9.06%	7.99%

Leases and Other - Schedule of Estimated Future Minimum Lease Payments Under Non-cancelable Leases Excluding Variable Leases and Variable Non-lease Components (Details) - USD ($)
$ in Thousands

Dec. 31, 2021

Dec. 31, 2020

Leases [Abstract]

$ 21,393

18,880

17,215

15,715

15,208

57,297

Total future lease payments

145,708

Less: Amount representing interest

(39,851)

Present value of minimum lease payments

105,857

Operating lease, Liability, Long-term portion

12,451

$ 15,697

93,406

70,150

8,445

7,926

6,858

6,179

5,971

183,142

Total future lease payments

218,521

Less: Amount representing interest

(155,120)

Present value of minimum lease payments

^[1]

63,401

$ 23,141

Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]

$ 2,928

Long-term Debt and Lease Obligation, Current

Finance lease, Liability, Long-term portion

$ 60,473

Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]

Long-term Debt and Lease Obligation

$ 29,838

26,806

24,073

21,894

21,179

240,439

Total future lease payments

364,229

Less: Amount representing interest

(194,971)

Total lease liabilities

169,258

$ 108,988

Operating And Finance Lease, Liability, Long-term portion

15,379

$ 153,879

[1]	The increase in finance lease obligations is primarily due to the commencement of Pursuit’s Sky Lagoon attraction in Iceland during 2021, which has a 46-year lease term.

Leases and Other - Schedule of Estimated Future Minimum Rentals Under Non-cancellable Leases (Details) $ in Thousands	Dec. 31, 2021 USD ($)
Leases [Abstract]
2022	$ 1,295
2023	1,074
2024	850
2025	696
2026	535
Thereafter	924
Total minimum rents	$ 5,374

Leases and Other - Narrative (Details) - New Flyover Attraction [Member]	12 Months Ended
	Dec. 31, 2021
Lessee Lease Description [Line Items]
Operating lease not yet commenced, description	we had executed two facility leases for which we did not have control of the underlying assets. Accordingly, we did not record the lease liabilities and ROU assets on our Consolidated Balance Sheets. These leases are for two new FlyOver attractions in development, FlyOver Chicago and FlyOver Canada Toronto. We expect the lease commencement dates to begin in fiscal year 2022 with a lease term of 20 years for both leases.
Operating lease not yet commenced, term of contract	20 years

Litigation, Claims, Contingencies, and Other - Narrative (Details)	12 Months Ended
	Dec. 31, 2021 USD ($) Agreement	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)
Loss Contingencies [Line Items]
Legal settlement	$ 0	$ 0	$ 8,500,000
Environmental remediation liability	2,200,000
Maximum potential amount of future payments	$ 101,800,000
Guarantees relate to facilities and equipment leased by the company	2040-01
Recourse provision to recover guarantees	$ 0
Bargaining agreements \| Agreement	100
Multiemployer plans, withdrawal obligation			15,500,000
Self insurance reserve	$ 9,900,000
Workers' compensation liability	6,200,000
Self insurance reserve for general and auto	3,700,000
Self insurance reserve on discontinued operations	1,800,000
Payments for self insurance	2,800,000	$ 5,000,000.0	6,900,000
Estimated employee health benefit claims incurred but not yet reported	1,200,000
Self insurance reserve in which company is the primary obligor	6,800,000
Self insurance reserve in which company is the primary obligor for workers compensation	6,700,000
General/auto liability claims	100,000
Minimum
Loss Contingencies [Line Items]
General range on claims	200,000
Maximum
Loss Contingencies [Line Items]
General range on claims	$ 500,000
GES
Loss Contingencies [Line Items]
Legal settlement			$ 8,500,000

Redeemable Noncontrolling Interests - Narrative (Details) - EUR (€)	12 Months Ended
	Dec. 31, 2021	Nov. 03, 2017
Redeemable Noncontrolling Interest [Line Items]
Percentage of non equity ownership related redeemable noncontrolling interests	56.40%
Esja Attractions ehf.
Redeemable Noncontrolling Interest [Line Items]
Percentage of controlling interest acquired		54.50%
Percentage of non equity ownership related redeemable noncontrolling interests	56.40%
EBITDA trailing period	12 months
Put option right of exercisable period upon earnings	36 months
Redeemable noncontrolling interest conditions	The put option is only exercisable after 36 months of business operation, which will be August 2022 (the “Reference Date”), and if the FlyOver Iceland attraction has earned a minimum of €3.25 million in unadjusted EBITDA during the most recent fiscal year and during the trailing 12-month period prior to exercise (the “Put Option Condition”). The put option is exercisable during a period of 12 months following the Reference Date (the “Option Period”) if the Put Option Condition has been met. If the Put Option Condition has not been met during the first Option Period, the Reference Date will be extended for an additional 12 months up to three times. If after 72 months, the FlyOver Iceland attraction has not achieved the Put Option Condition, the put option expires. If the Put Option Condition is met during any of the Option Periods, yet the shares are not exercised prior to the end of the 12-month Option Period, the put option will expire.
Put option exercisable period	12 months
Put option additional exercisable period upon not meeting of conditions	12 months
Esja Attractions ehf. \| FlyOver Iceland
Redeemable Noncontrolling Interest [Line Items]
Put option expiration period	72 months
Esja Attractions ehf. \| FlyOver Iceland \| Minimum [Member]
Redeemable Noncontrolling Interest [Line Items]
Unadjusted EBITDA	€ 3,250,000

Redeemable Noncontrolling Interests - Summary of Changes in Redeemable Noncontrolling Interest (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Noncontrolling Interest [Abstract]
Beginning balance	$ 5,225	$ 6,172
Net loss attributable to redeemable noncontrolling interest	(1,766)	(1,482)	$ (821)
Adjustment to the redemption value	1,797	926
Foreign currency translation adjustment	(153)	(391)
Capital contributions	341
Ending balance	$ 5,444	$ 5,225	$ 6,172

Redeemable Noncontrolling Interests - Changes in the non-redeemable noncontrolling interest (Details) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2021

Dec. 31, 2020

Dec. 31, 2019

Net Income (Loss) Attributable to Nonredeemable Noncontrolling Interest

$ 78,144

$ 79,731

1,686

(1,376)

$ 2,309

6,759

62,401

Unrealized foreign currency translation adjustments

(1,160)

(1,526)

(407)

127

1,315

1,080

85,556

78,144

79,731

Glacier Park Inc

Net Income (Loss) Attributable to Nonredeemable Noncontrolling Interest

13,953

15,042

1,360

(1,091)

0

Unrealized foreign currency translation adjustments

2

Equity ownership interest that we do not own

$ 15,315

13,953

15,042

20.00%

Brewster

Net Income (Loss) Attributable to Nonredeemable Noncontrolling Interest

^[1]

$ 51,295

52,006

^[1]

1,399

(48)

^[1]

6,759

0

Unrealized foreign currency translation adjustments

^[1]

(1,160)

(1,526)

^[1]

308

863

Equity ownership interest that we do not own

^[1]

$ 58,601

51,295

52,006

^[1]

40.00%

Sky Lagoon

Net Income (Loss) Attributable to Nonredeemable Noncontrolling Interest

$ 12,896

12,683

(1,073)

(237)

0

Unrealized foreign currency translation adjustments

(183)

450

Equity ownership interest that we do not own

$ 11,640

$ 12,896

$ 12,683

49.00%

[1]	Includes Mountain Park Lodges and our recently acquired Golden Skybridge at Brewster, part of the Banff Jasper Collection.

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

12 Months Ended

Dec. 31, 2021

Dec. 31, 2020

Dec. 31, 2019

Multi-employer pension plan withdrawal

$ 507,340

$ 415,435

$ 1,302,736

Interest income

116

377

369

Interest expense

(28,440)

(18,264)

(14,199)

(57)

(462)

(15,693)

Other expense, net

(2,013)

(1,132)

(1,586)

(6,066)

(13,440)

(8,380)

Income (loss) from continuing operations before income taxes

0

203,076

5,346

(95,081)

(360,859)

26,110

Pursuit

187,048

76,810

222,813

GES

320,292

338,625

1,079,923

Operating Segments

Operating Segments | Pursuit

(47,002)

(116,240)

90,243

187,048

76,810

222,813

4,609

(42,343)

54,310

(85)

(132)

(52)

(1,758)

0

Operating Segments | GES

320,292

338,625

1,079,923

(51,611)

(73,897)

35,933

(5,936)

(12,347)

(7,888)

Intersegment Eliminations | Pursuit

(201,318)

Legal settlement

(8,500)

Intersegment Eliminations | GES

(627)

(317)

(1,686)

(5,933)

(3,680)

(20,741)

Corporate Eliminations

^[1]

70

65

67

Corporate

(11,689)

(8,687)

(10,865)

$ (45)

$ (961)

$ (440)

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

Segment Information - Reconciliation of Assets from Reportable Segments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Reconciliation of assets from segment
Total Assets	$ 1,037,630	$ 853,224	$ 1,318,691
Total Depreciation and Amortization	53,750	56,565	58,964
Capital expenditures	57,936	53,567	76,147
Pursuit
Reconciliation of assets from segment
Total Assets	725,946	620,413	589,205
Total Depreciation and Amortization	32,469	28,393	23,154
Capital expenditures	54,325	43,176	49,934
GES
Reconciliation of assets from segment
Total Assets	242,146	184,806	608,254
Total Depreciation and Amortization	21,247	28,075	35,581
Capital expenditures	3,135	10,391	26,197
Corporate and other
Reconciliation of assets from segment
Total Assets	69,538	48,005	121,232
Total Depreciation and Amortization	34	97	229
Capital expenditures	$ 476		$ 16

Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.

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Segment Information - Financial Information by Major Geographic Area (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Revenue:
Total revenue	$ 507,340	$ 415,435	$ 1,302,736
Long-lived assets:
Total long-lived assets	565,826	507,646	546,020
United States
Revenue:
Total revenue	312,265	290,541	873,213
Long-lived assets:
Total long-lived assets	179,756	173,790	205,399
EMEA
Revenue:
Total revenue	96,603	56,656	218,404
Long-lived assets:
Total long-lived assets	91,877	56,996	63,582
Canada
Revenue:
Total revenue	98,472	68,238	211,119
Long-lived assets:
Total long-lived assets	$ 294,193	$ 276,860	$ 277,039

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

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Selected Quarterly Financial Information (Unaudited) - Schedule of Quarterly Financial Information (Details) - USD ($)
$ / shares in Units, $ in Thousands

12 Months Ended

Dec. 31, 2021

Dec. 31, 2020

Dec. 31, 2019