Discontinued Operations

6 Months Ended

Jun. 30, 2015

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations

Discontinued Operations

For the three and six months ended June 30, 2015, Viad recorded income from discontinued operations of $78,000 and a loss of $70,000, respectively, due to liability reserve adjustments and legal fees related to previously sold operations.

For the three and six months ended June 30, 2014, Viad recorded a loss from discontinued operations of $1.2 million and a gain of $14.0 million, respectively, due to the expiration of the Glacier National Park concession contract and additional reserves related to certain liabilities associated with previously sold operations.

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 as of June 30, 2014 was $14.3 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.

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:

	Three Months Ended			Six Months Ended
(in thousands)	June 30, 2014
Total revenue	$	—		$	—
Costs and expenses	(18		)	(86		)
Loss from discontinued operations, before income taxes	(18		)	(86		)
Income tax benefit	18			38
Loss from discontinued operations, net of tax	—			(48		)
Gain (loss) on sale of discontinued operations, net of tax	(964		)	14,322
Income (loss) from discontinued operations	(964		)	14,274
Income from discontinued operations attributable to noncontrolling interest	—			(2,668		)
Income (loss) from discontinued operations attributable to Viad	$	(964	)	$	11,606

The following is a reconciliation of net income attributable to the noncontrolling interest for the six months ended June 30:

(in thousands)	2015			2014
Loss from continuing operations	$	(173	)	$	(264	)
Income from discontinued operations	—			2,668
Net income (loss) attributable to noncontrolling interest	$	(173	)	$	2,404