Acquisition of Businesses (Tables)

12 Months Ended

Dec. 31, 2014

Business Combinations [Abstract]

Schedule of recognized identified assets acquired and liabilities assumed

The following table summarizes the preliminary recording of the fair values of the assets acquired and liabilities assumed as of the acquisition date. Due to the recent timing of the acquisition, we have not yet finalized our purchase price allocation. These amounts are subject to change within the measurement period as assessment of intangible assets, contingent consideration, working capital and certain tax amounts are finalized.

(in thousands)
Purchase price paid as:
Cash			$	12,068
Contingent consideration			1,244
Cash acquired			(943		)
Purchase price, net of cash acquired			$	12,369
Fair value of net assets acquired:
Accounts receivable, net	$	1,747
Inventory	46
Prepaid expenses	115
Property and equipment, net	1,280
Intangible assets	3,595
Total assets acquired	6,783
Accounts payable	421
Accrued liabilities	990
Customer deposits	569
Deferred tax liability	891
Other liabilities	106
Total liabilities acquired	2,977
Total fair value of net assets acquired			3,806
Excess purchase price over fair value of net assets acquired (“goodwill”)			$	8,563

The following table summarizes the preliminary recording of the fair values of the assets acquired and liabilities assumed as of the acquisition date. Due to the recent timing of the acquisition, we have not yet finalized our purchase price allocation. These amounts are subject to change within the measurement period as assessment of intangible assets and certain tax amounts are finalized.

(in thousands)
Purchase price paid as:
Cash			$	24,416
Cash acquired			(190		)
Purchase price, net of cash acquired			$	24,226
Fair value of net assets acquired:
Accounts receivable, net	$	264
Inventory	433
Prepaid expenses	410
Property and equipment, net	5,902
Intangible assets	8,708
Total assets acquired	15,717
Accounts payable	1,232
Accrued liabilities	2,246
Customer deposits	199
Deferred tax liability	241
Revolving credit facility	488
Accrued dilapidations	589
Total liabilities acquired	4,995
Total fair value of net assets acquired			10,722
Excess purchase price over fair value of net assets acquired (“goodwill”)			$	13,504

The following table summarizes the preliminary recording of the fair values of the assets acquired and liabilities assumed as of the acquisition date. Due to the recent timing of the acquisition, we have not yet finalized our purchase price allocation. These amounts are subject to change within the measurement period as assessment of intangible assets and certain tax amounts are finalized.

(in thousands)
Purchase price paid as:
Cash			$	42,950
Cash acquired			(4,064		)
Purchase price, net of cash acquired			$	38,886
Fair value of net assets acquired:
Accounts receivable, net	$	4,008
Prepaid expenses	640
Property and equipment, net	2,450
Other non-current assets	309
Intangible assets	14,300
Total assets acquired	21,707
Accounts payable	738
Accrued liabilities	3,341
Customer deposits	4,225
Deferred tax liability	1,614
Other liabilities	309
Total liabilities acquired	10,227
Total fair value of net assets acquired			11,480
Excess purchase price over fair value of net assets acquired (“goodwill”)			$	27,406

The following table summarizes the preliminary recording of the fair values of the assets acquired and liabilities assumed as of the acquisition date. Due to the recent timing of the acquisition, we have not yet finalized our purchase price allocation. These amounts are subject to change within the measurement period as assessment of intangible assets and certain tax amounts are finalized.

(in thousands)
Purchase price paid as:
Cash			$	33,674
Additional purchase price payable upon tax election			1,300
Working capital receivable			(279		)
Cash acquired			(4,204		)
Purchase price, net of cash acquired			$	30,491
Fair value of net assets acquired:
Accounts receivable, net	$	1,450
Prepaid expenses	120
Property and equipment, net	93
Intangible assets	15,000
Total assets acquired	16,663
Accounts payable	488
Accrued liabilities	1,557
Customer deposits	4,525
Other liabilities	128
Total liabilities acquired	6,698
Total fair value of net assets acquired			9,965
Excess purchase price over fair value of net assets acquired (“goodwill”)			$	20,526

The following table summarizes the recording of the fair values of the assets acquired and liabilities assumed as of the acquisition date. These amounts are subject to change within the measurement period as our working capital adjustments are finalized.

(in thousands)
Purchase price paid as:
Cash			$	16,544
Working capital adjustment payable			320
Total purchase price			16,864
Fair value of net assets acquired:
Prepaid expenses	$	24
Inventory	1,374
Property and equipment, net	14,510
Intangible assets	189
Total assets acquired	16,097
Accrued liabilities	35
Customer deposits	402
Other liabilities	64
Total liabilities acquired	501
Total fair value of net assets acquired			15,596
Excess purchase price over fair value of net assets acquired (“goodwill”)			$	1,268

Unaudited pro forma results of operations attributable to Viad

The following table summarizes the unaudited pro forma results of operations attributable to Viad, assuming that the acquisitions above had each been completed on January 1, 2013:

(in thousands, except per share data)	2014		2013
Revenue	$	1,109,629	$	1,015,275
Depreciation and amortization	38,452		38,981
Income from continuing operations	44,360		15,317
Net income attributable to Viad	55,557		17,510
Diluted net income per share	2.76		0.86
Basic net income per share	2.76		0.86