Discontinued Operations

12 Months Ended

Dec. 31, 2014

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations

Discontinued Operations

In 2014, Viad recorded income from discontinued operations of $13.3 million primarily related to the gain on the possessory interest and personal property at Glacier Park. The Company’s 2013 and 2012 results related to the operations of Glacier Park’s concession contract business have been reclassified as discontinued operations in Viad’s Condensed Consolidated Statements of Operations. For the years ended 2013 and 2012, Viad recorded income from discontinued operations of $1.2 million and $2.4 million related to Glacier Park income.

On December 31, 2013, Glacier Park’s concession contract with the Park Service to operate lodging, tour and transportation and other hospitality services within Glacier National Park expired. Upon completion of the contract, the Company received cash payments in January 2014 totaling $25.0 million resulting in a pre-tax gain of $21.5 million for the Company’s possessory interest. The gain after-tax on the possessory interest was $13.5 million with $2.7 million attributable to the noncontrolling interest. These amounts are included in income (loss) from discontinued operations and net income attributable to noncontrolling interest in Viad’s Condensed Consolidated Statements of Operations, respectively. In September 2014, the Company received $3.0 million in cash for the sale of the remaining personal property assets held for sale at Glacier Park. This resulted in a gain of approximately $0.7 million, net of tax.

The following summarizes Glacier Park’s expired concession contract operating results, which are presented in income (loss) from discontinued operations, net of tax, in Viad’s Condensed Consolidated Statements of Operations as of December 31:

(in thousands)	2014			2013			2012
Total revenue				$	19,445		$	18,587
Costs (recoveries) and expenses	(93		)	(15,462		)	(14,916		)
Impairment charges	—			(2,364		)	—
Restructuring charges	—			(98		)	—
Income from discontinued operations, before income taxes	(93		)	1,521			3,671
Income tax (expense) benefit	45			(280		)	(1,265		)
Income from discontinued operations, net of tax	(48		)	1,241			2,406
Gain on sale of discontinued operations, net of tax	13,343			—			—
Income from discontinued operations	13,295			1,241			2,406
Income from discontinued operations attributable to noncontrolling interest	(2,825		)	(248		)	(481		)
Income from discontinued operations attributable to Viad	$	10,470		$	993		$	1,925

For the year ended December 31, 2013, the Company recorded a non-cash impairment charge of $4.5 million representing all goodwill at the Glacier Park reporting unit, of which $2.1 million related to continuing operations and $2.4 million related to discontinued operations. Additionally, for the year ended December 31, 2013, the Company recorded other asset impairment charges of $1.0 million at the Marketing & Events Group related to the write-off of certain assets within the Marketing & Events Group.

For the year ended December 31, 2014, Viad also recorded income from discontinued operations, net of tax, of $1.1 million primarily due to additional reserves related to certain liabilities associated with previously sold operations and an insurance recovery. For the year ended December 31, 2013, Viad recorded income from discontinued operations, net of tax, of $1.1 million primarily related to the sale of land associated with previously sold operations. In 2012, Viad recorded income from discontinued operations of $0.6 million related to the reversal of certain liabilities associated with previously sold operations.

The following is a reconciliation of net income attributable to the noncontrolling interest for the year ended December 31:

(in thousands)	2014		2013			2012
Income (loss) from continuing operations	$	388	$	(117	)	$	205
Income from discontinued operations	2,825		248			481
Net income attributable to noncontrolling interest	$	3,213	$	131		$	686