Pension and Postretirement Benefits (Tables)

12 Months Ended

Dec. 31, 2013

Defined Benefit Plan Disclosure [Line Items]

Components of net periodic benefit cost and other amounts recognized in other comprehensive income of Viad's postretirement benefit plans

The components of net periodic benefit cost and other amounts recognized in other comprehensive income of Viad’s pension plans included the following:



(in thousands)	2013			2012			2011
Net periodic benefit cost:
Service cost	$	66		$	104		$	121
Interest cost	1,030			1,150			1,189
Expected return on plan assets	(400		)	(406		)	(563		)
Recognized net actuarial loss	583			491			457
Net periodic benefit cost	1,279			1,339			1,204
Other changes in plan assets and benefit obligations recognized in other comprehensive income:
Net actuarial loss (gain)	(2,565		)	1,942			1,589
Reversal of amortization item:
Net actuarial loss	(583		)	(491		)	(457		)
Total recognized in other comprehensive income (loss)	(3,148		)	1,451			1,132
Total recognized in net periodic benefit cost and other comprehensive income (loss)	$	(1,869	)	$	2,790		$	2,336

The components of net periodic benefit cost and other amounts recognized in other comprehensive income of Viad’s postretirement benefit plans included the following:



(in thousands)	2013			2012			2011
Net periodic benefit cost:
Service cost	$	156		$	146		$	128
Interest cost	663			814			868
Expected return on plan assets	—			(74		)	(135		)
Amortization of prior service credit	(902		)	(1,113		)	(1,277		)
Recognized net actuarial loss	518			547			533
Net periodic benefit cost	435			320			117
Other changes in plan assets and benefit obligations recognized in other comprehensive income:
Net actuarial loss (gain)	(1,496		)	224			24
Prior service credit	(40		)	—			—
Reversal of amortization item:
Net actuarial loss	(518		)	(547		)	(533		)
Prior service credit	902			1,113			1,277
Total recognized in other comprehensive income (loss)	(1,152		)	790			768
Total recognized in net periodic benefit cost and other comprehensive income (loss)	$	(717	)	$	1,110		$	885

Summary of funded status of the plans

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



													Postretirement Benefit Plans
	Funded Plans						Unfunded Plans						Postretirement Benefit Plans
(in thousands)	2013			2012			2013			2012			2013			2012
Change in benefit obligation:
Benefit obligation at beginning of year	$	15,348		$	13,938		$	11,570		$	10,883		$	18,701		$	18,667
Service cost	—			—			66			104			156			146
Interest cost	608			659			422			491			663			814
Actuarial adjustments	(1,530		)	1,419			(856		)	799			(1,631		)	250
Plan amendments	—			—			—			—			(40		)	—
Benefits paid	(991		)	(668		)	(666		)	(707		)	(930		)	(1,176		)
Benefit obligation at end of year	13,435			15,348			10,536			11,570			16,919			18,701
Change in plan assets:
Fair value of plan assets at beginning of year	10,624			9,846			—			—			1,397			2,118
Actual return on plan assets	580			683			—			—			(135		)	100
Company contributions	659			763			666			707			188			355
Benefits paid	(991		)	(668		)	(666		)	(707		)	(930		)	(1,176		)
Fair value of plan assets at end of year	10,872			10,624			—			—			520			1,397
Funded status at end of year	$	(2,563	)	$	(4,724	)	$	(10,536	)	$	(11,570	)	$	(16,399	)	$	(17,304	)

Fair value of plans' assets by asset class

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



			Fair Value Measurements at December 31, 2013
			Quoted Prices in Active Markets		Significant Other Observable Inputs		Significant Unobserved Inputs
(in thousands)	Total		(Level 1)		(Level 2)		(Level 3)
Domestic pension plans:
Fixed income securities	$	5,966	$	5,966	$	—	$	—
U.S. equity securities	4,542		4,542		—		—
Cash	147		147		—		—
Other	217		—		217		—
Total	$	10,872	$	10,655	$	217	$	—
Postretirement benefit plans:
Fixed income securities	$	407	$	407	$	—	$	—
U.S. equity securities	109		109		—		—
Cash	4		4		—		—
Total	$	520	$	520	$	—	$	—



			Fair Value Measurements at December 31, 2012
			Quoted Prices in Active Markets		Significant Other Observable Inputs		Significant Unobserved Inputs
(in thousands)	Total		(Level 1)		(Level 2)		(Level 3)
Domestic pension plans:
Cash	$	10,401	$	10,401	$	—	$	—
Other	223		—		223		—
Total	$	10,624	$	10,401	$	223	$	—
Postretirement benefit plans:
Cash	$	1,397	$	1,397	$	—	$	—

Payments and receipts reflecting expected future service

The following pension and postretirement benefit payments, which reflect expected future service, as appropriate, are expected to be paid, as well as the Medicare Part D subsidy expected to be received:



(in thousands)	Funded Plans		Unfunded Plans		Postretirement Benefit Plans		Medicare Part D Subsidy Receipts
2014	$	853	$	729	$	1,739	$	254
2015	879		716		1,702		254
2016	830		806		1,691		253
2017	865		827		1,649		251
2018	857		894		1,609		247
2019-2022	4,668		4,211		7,330		1,169

Net amount recognized in Viad's consolidated balance sheets

The net amounts recognized in Viad’s consolidated balance sheets under the caption “Pension and postretirement benefits” as of December 31 were as follows:



									Postretirement Benefit Plans
	Funded Plans				Unfunded Plans				Postretirement Benefit Plans
(in thousands)	2013		2012		2013		2012		2013		2012
Other current liabilities	$	—	$	—	$	713	$	816	$	928	$	392
Non-current liabilities	2,563		4,724		9,823		10,754		15,471		16,912
Net amount recognized	$	2,563	$	4,724	$	10,536	$	11,570	$	16,399	$	17,304

Amounts recognized in accumulated other comprehensive income

Amounts recognized in accumulated other comprehensive income as of December 31, 2013 consisted of:



(in thousands)	Funded Plans			Unfunded Plans			Postretirement Benefit Plans			Total
Net actuarial loss	$	6,972		$	3,480		$	4,692		$	15,144
Prior service credit	—			—			(2,038		)	(2,038		)
Subtotal	6,972			3,480			2,654			13,106
Less tax effect	(2,644		)	(1,320		)	(1,006		)	(4,970		)
Total	$	4,328		$	2,160		$	1,648		$	8,136

Amounts recognized in accumulated other comprehensive income as of December 31, 2012 consisted of:



(in thousands)	Funded Plans			Unfunded Plans			Postretirement Benefit Plans			Total
Net actuarial loss	$	9,052		$	4,548		$	6,706		$	20,306
Prior service credit	—			—			(2,900		)	(2,900		)
Subtotal	9,052			4,548			3,806			17,406
Less tax effect	(3,433		)	(1,725		)	(1,443		)	(6,601		)
Total	$	5,619		$	2,823		$	2,363		$	10,805

Accumulated benefit obligation in excess of plan assets

The accumulated benefit obligations in excess of plan assets as of December 31 were as follows:



	Domestic Plans
	Funded Plans				Unfunded Plans
(in thousands)	2013		2012		2013		2012
Projected benefit obligation	$	13,435	$	15,348	$	10,536	$	11,570
Accumulated benefit obligation	13,435		15,348		10,227		11,322
Fair value of plan assets	10,872		10,624		—		—



	Foreign Plans
	Funded Plans				Unfunded Plans
(in thousands)	2013		2012		2013		2012
Projected benefit obligation	$	11,460	$	15,387	$	2,911	$	3,032
Accumulated benefit obligation	10,823		14,307		2,911		3,032
Fair value of plan assets	11,560		12,997		—		—

Weighted-average assumptions used to determine benefit obligations

Weighted-average assumptions used to determine benefit obligations as of December 31 were as follows:



	Domestic Plans
	Funded Plans				Unfunded Plans				Postretirement Benefit Plans				Foreign Plans
	2013		2012		2013		2012		2013		2012		2013		2012
Discount rate	4.89	%	4.11	%	4.60	%	3.80	%	4.65	%	3.85	%	4.67	%	4.06	%
Rate of compensation increase	N/A		N/A		3.00	%	4.50	%	N/A		N/A		3.00	%	3.00	%

Weighted-average assumptions used to determine net periodic benefit cost were as follows:



	Domestic Plans
									Postretirement Benefit Plans
	Funded Plans				Unfunded Plans				Postretirement Benefit Plans				Foreign Plans
	2013		2012		2013		2012		2013		2012		2013		2012
Discount rate	4.09	%	4.93	%	3.80	%	4.75	%	3.85	%	4.70	%	4.03	%	4.65	%
Expected return on plan assets	3.90	%	4.20	%	N/A		N/A		0.00	%	4.65	%	5.44	%	5.45	%
Rate of compensation increase	N/A		N/A		4.50	%	4.50	%	N/A		N/A		3.00	%	3.00	%

Multi-employer pension plans

The “FIP/RP Status Pending/Implemented” column indicates plans for which a financial improvement plan or a rehabilitation plan is either pending or has been implemented.



		Plan	Pension Protection Act Zone Status		FIP/RP Status Pending/ Implemented	Viad Contributions						Surcharge Paid	Expiration Date of Collective- Bargaining Agreement(s)
(in thousands)	EIN	No.	2013	2012	FIP/RP Status Pending/ Implemented	2013		2012		2011		Surcharge Paid	Expiration Date of Collective- Bargaining Agreement(s)
Pension Fund:
Western Conference of Teamsters Pension Plan	91-6145047	1	Green	Green	No	$	5,524	$	5,694	$	5,720	No	3/31/14 to 5/31/15
Southern California Local 831—Employer Pension Fund⁽¹⁾	95-6376874	1	Green	Green	No	2,244		2,358		2,232		No	8/31/14
National Electrical Benefit Fund	53-0181657	1	Green	Green	No	1,631		1,814		1,691		No	5/31/14 to 6/16/14
Chicago Regional Council of Carpenters Pension Fund⁽²⁾	36-6130207	1	Yellow	Yellow	Yes	1,614		1,749		1,411		No	5/31/14
Electrical Contractors Assoc. Chicago Local Union 134, IBEW Joint Pension Trust of Chicago Plan #2	51-6030753	2	Green	Green	No	957		108		—		No	6/3/14
Central States, Southeast and Southwest Areas Pension Plan	36-6044243	1	Red	Red	Yes	836		874		725		No	7/31/15
Southwest Carpenters Pension Trust	95-6042875	1	Green	Green	No	812		944		1,031		No	6/30/15
Machinery Movers Riggers & Mach Erect Local 136 Supplemental Retirement Plan^(1),(2)	36-1416355	1	Red	Red	Yes	430		930		386		No	6/30/14
Nevada Resort Association IATSE Local 720 Retirement Plan	51-0144767	1	Red	Red	Yes	367		516		329		No	12/31/14
Sign Pictorial & Display Industry Pension Plan	94-6278490	1	Green	Green	No	367		196		191		No	3/31/15
Carpenters Retirement Plan of Western Washington	91-6029051	1	Green	Green	No	357		357		286		No	5/31/13
New England Teamsters & Trucking Industry Pension⁽³⁾	04-6372430	1	Yellow	Red	Yes	347		334		339		No	3/31/17
Steelworkers Pension Trust	23-6648508	499	Green	Green	No	266		326		422		No	3/31/13 to 2/28/15
All other funds⁽⁴⁾						2,592		2,468		2,946
Total contributions to defined benefit plans						18,344		18,668		17,709
Total contributions to other plans						1,969		2,001		1,892
Total contributions to multi-employer plans						$	20,313	$	20,669	$	19,601

⁽¹⁾ The Company contributed more than 5 percent of total plan contributions for the 2012 and 2011 plan years based on the plans’ Form 5500s.

⁽²⁾ Zone status as of 6/30/12 and 6/30/11.

⁽³⁾ Zone status as of 9/30/12 and 9/30/11.

⁽⁴⁾ Represents participation in 37 pension funds during 2013.

Foreign Pension Plans

Defined Benefit Plan Disclosure [Line Items]

Components of net periodic benefit cost and other amounts recognized in other comprehensive income of Viad's postretirement benefit plans



(in thousands)	2013			2012			2011
Net periodic benefit cost:
Service cost	$	534		$	491		$	366
Interest cost	702			737			729
Expected return on plan assets	(698		)	(622		)	(665		)
Recognized net actuarial loss	248			201			73
Net periodic benefit cost	786			807			503
Other changes in plan assets and benefit obligations recognized in other comprehensive income:
Net actuarial loss (gain)	(1,214		)	958			1,936
Reversal of amortization of net actuarial loss	(248		)	(201		)	(73		)
Total recognized in other comprehensive income (loss)	(1,462		)	757			1,863
Total recognized in net periodic benefit cost and other comprehensive income (loss)	$	(676	)	$	1,564		$	2,366

Summary of funded status of the plans

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



	Funded Plans						Unfunded Plans
(in thousands)	2013			2012			2013			2012
Change in benefit obligation:
Benefit obligation at beginning of year	$	15,387		$	13,141		$	3,032		$	2,939
Service cost	534			491			—			—
Interest cost	582			607			120			130
Actuarial adjustments	(473		)	1,086			44			113
Benefits paid	(3,644		)	(328		)	(219		)	(220		)
Translation adjustment	(926		)	390			(66		)	70
Benefit obligation at end of year	11,460			15,387			2,911			3,032
Change in plan assets:
Fair value of plan assets at beginning of year	12,997			11,028			—			—
Actual return on plan assets	1,148			860			—			—
Company contributions	1,892			1,111			219			220
Benefits paid	(3,644		)	(328		)	(219		)	(220		)
Translation adjustment	(833		)	326			—			—
Fair value of plan assets at end of year	11,560			12,997			—			—
Funded status at end of year	$	100		$	(2,390	)	$	(2,911	)	$	(3,032	)

Fair value of plans' assets by asset class

The fair value of the foreign pension plans’ assets by asset category were as follows:



			Fair Value Measurements at December 31, 2013
(in thousands)	Total		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobserved Inputs (Level 3)
Assets:
Canadian fixed income securities	$	5,174	$	5,174	$	—	$	—
International equity securities	4,781		4,386		395		—
U.S. equity securities	1,269		1,269		—		—
Other	336		336		—		—
Total	$	11,560	$	11,165	$	395	$	—



			Fair Value Measurements at December 31, 2012
(in thousands)	Total		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobserved Inputs (Level 3)
Assets:
Canadian fixed income securities	$	6,744	$	6,744	$	—	$	—
International equity securities	4,871		4,494		377		—
U.S. equity securities	1,185		1,185		—		—
Other	197		197		—		—
Total	$	12,997	$	12,620	$	377	$	—

Payments and receipts reflecting expected future service

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



(in thousands)	Funded Plans		Unfunded Plans
2014	$	365	$	213
2015	480		213
2016	485		212
2017	488		212
2018	512		211
2019-2022	3,226		1,051