Segment Information

12 Months Ended

Dec. 31, 2014

Segment Reporting [Abstract]

Segment Information

Segment Information

Viad measures profit and performance of its operations on the basis of segment operating income which excludes restructuring charges and recoveries and impairment charges and recoveries. Intersegment sales are eliminated in consolidation and intersegment transfers are not significant. Corporate activities include expenses not allocated to operations. Depreciation and amortization and share-based compensation expense are the only significant non-cash items for the reportable segments. No reportable segment has a single client comprising more than 6.3 percent of that segment’s revenues, and no single client comprises more than 4.2 percent of Viad’s revenues. Disclosures regarding Viad’s reportable segments with reconciliations to consolidated totals are as follows:

(in thousands)	2014			2013			2012
Revenues:
Marketing & Events Group:
U.S.	$	710,835		$	628,856		$	676,772
International	249,649			229,312			240,137
Intersegment eliminations	(16,016		)	(13,264		)	(14,869		)
Total Marketing & Events Group	944,468			844,904			902,040
Travel & Recreation Group	120,519			108,443			104,604
Total revenue	$	1,064,987		$	953,347		$	1,006,644
Segment operating income:
Marketing & Events Group:
U.S.	$	21,400		$	11,024		$	5,579
International	10,339			9,068			12,321
Total Marketing & Events Group	31,739			20,092			17,900
Travel & Recreation Group	28,127			21,819			20,291
Segment operating income	59,866			41,911			38,191
Corporate activities	(14,348		)	(6,755		)	(9,408		)
Operating income	45,518			35,156			28,783
Interest income	305			550			593
Interest expense	(2,015		)	(1,234		)	(1,303		)
Restructuring recoveries (charges):
Marketing & Events U.S.	278			409			(3,479		)
Marketing & Events International	(1,808		)	(2,362		)	(1,373		)
Travel & Recreation Group	41			(809		)	(79		)
Corporate	(148		)	(1,031		)	(11		)
Impairment charges:
Marketing & Events U.S.	—			(658		)	—
Marketing & Events International	(884		)	(294		)	—
Travel & Recreation Group	—			(2,097		)	—
Income from continuing operations before income taxes	$	41,287		$	27,630		$	23,131

(in thousands)	2014		2013		2012
Assets:
Marketing & Events Group:
U.S.	$	304,727	$	194,422	$	203,145
International	116,842		81,058		100,387
Travel & Recreation Group	199,986		209,611		223,199
Corporate and other	93,388		76,841		123,846
	$	714,943	$	561,932	$	650,577
Depreciation and amortization:
Marketing & Events Group:
U.S.	$	16,066	$	14,906	$	17,643
International	6,311		5,566		5,162
Travel & Recreation Group	8,232		7,319		7,183
Corporate and other	183		176		145
	$	30,792	$	27,967	$	30,133
Capital expenditures:
Marketing & Events Group:
U.S.	$	14,515	$	8,278	$	7,525
International	4,134		4,332		4,913
Travel & Recreation Group	10,740		23,108		15,201
Corporate and other	—		401		36
	$	29,389	$	36,119	$	27,675

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

(in thousands)	2014		2013		2012
Revenues:
United States	$	718,538	$	637,482	$	681,827
United Kingdom	174,127		151,217		153,027
Canada	153,775		148,934		151,070
Other international	18,547		15,714		20,720
Total revenues	$	1,064,987	$	953,347	$	1,006,644
Long-lived assets:
United States	$	130,401	$	132,315	$	141,727
Canada	78,193		82,986		76,067
United Kingdom	13,973		9,631		9,757
Other international	242		424		2,163
Total long-lived assets	$	222,809	$	225,356	$	229,714