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Segment Information
 12 Months Ended
Dec. 31, 2011
Segment Information [Abstract]  
Segment Information

Note 20. 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. Disclosures regarding Viad’s reportable segments with reconciliations to consolidated totals are as follows:

 

                         
     2011     2010     2009  
          (in thousands)        

Revenues:

                        

Marketing & Events Group:

                        

U.S.

   $ 631,360     $ 570,978     $ 568,432  

International

     218,639       197,787       172,648  

Intersegment eliminations

     (9,449 )      (12,281 )      (10,578 ) 
   

 

 

    

 

 

    

 

 

  
      840,550       756,484       730,502  

Travel & Recreation Group

     101,814       88,277       75,302  
   

 

 

    

 

 

    

 

 

  
    $ 942,364     $ 844,761     $ 805,804  
   

 

 

    

 

 

    

 

 

  

Segment operating income (loss):

                        

Marketing & Events Group:

                        

U.S.

   $ (6,269 )    $ (15,217 )    $ (22,095 ) 

International

     11,449       10,088       9,226  
   

 

 

    

 

 

    

 

 

  
      5,180       (5,129 )      (12,869 ) 

Travel & Recreation Group

     20,196       19,885       17,057  
   

 

 

    

 

 

    

 

 

  
      25,376       14,756       4,188  

Corporate activities

     (7,682 )      (6,422 )      (5,607 ) 
   

 

 

    

 

 

    

 

 

  
      17,694       8,334       (1,419 ) 

Interest income

     779       584       579  

Interest expense

     (1,511 )      (1,835 )      (1,690 ) 

Restructuring charges:

                        

Marketing & Events U.S.

     (3,756 )      (3,232 )      (11,980 ) 

Marketing & Events International

     —         (448 )      (1,300 ) 

Travel & Recreation Group

     —         (235 )      —    

Corporate

     (26 )      (307 )      (774 ) 

Impairment losses:

                        

Marketing & Events U.S.

     —         —         (90,691 ) 

Marketing & Events International

     —         —         (23,318 ) 

Travel & Recreation Group

     —         (302 )      (2,854 ) 
   

 

 

    

 

 

    

 

 

  

Income (loss) from continuing operations before income taxes

   $ 13,180     $ 2,559     $ (133,447 ) 
   

 

 

    

 

 

    

 

 

  

 

                         
     2011     2010     2009  
          (in thousands)        

Assets:

                        

Marketing & Events Group:

                        

U.S.

   $ 213,843     $ 235,965     $ 245,104  

International

     96,996       83,441       78,601  

Travel & Recreation Group

     194,278       157,562       147,090  

Corporate and other

     112,711       139,535       138,391  
   

 

 

    

 

 

    

 

 

  
    $ 617,828     $ 616,503     $ 609,186  
   

 

 

    

 

 

    

 

 

  

Depreciation and amortization:

                        

Marketing & Events Group:

                        

U.S.

   $ 17,247     $ 17,887     $ 18,446  

International

     5,027       4,486       4,103  

Travel & Recreation Group

     6,674       5,648       5,464  

Corporate and other

     178       231       256  
   

 

 

    

 

 

    

 

 

  
    $ 29,126     $ 28,252     $ 28,269  
   

 

 

    

 

 

    

 

 

  

Capital expenditures:

                        

Marketing & Events Group:

                        

U.S.

   $ 11,692     $ 9,050     $ 14,169  

International

     5,635       4,776       4,842  

Travel & Recreation Group

     3,271       3,214       2,304  

Corporate and other

     940       —         —    
   

 

 

    

 

 

    

 

 

  
    $ 21,538     $ 17,040     $ 21,315  
   

 

 

    

 

 

    

 

 

  

Products and Services. Viad’s revenues for each group of products and services are presented in the following table:

 

                         
     2011     2010     2009  
          (in thousands)        

Revenues:

                        

Convention and event services

   $ 670,054     $ 590,444     $ 582,969  

Exhibits and environments

     170,496       166,040       147,533  

Travel and recreation services

     101,814       88,277       75,302  
   

 

 

    

 

 

    

 

 

  

Total revenues

   $ 942,364     $ 844,761     $ 805,804  
   

 

 

    

 

 

    

 

 

  

 

Geographic Areas. Viad’s foreign operations are located principally in Canada, the United Kingdom, Germany and the United Arab Emirates. 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:

 

      00000000       00000000       00000000  
     2011     2010     2009  
          (in thousands)        

Revenues:

                        

United States

   $ 660,998     $ 590,163     $ 589,344  

Canada

     140,374       136,066       106,093  

United Kingdom

     124,208       93,092       90,429  

Other international

     16,784       25,440       19,938  
   

 

 

    

 

 

    

 

 

  

Total revenues

   $ 942,364     $ 844,761     $ 805,804  
   

 

 

    

 

 

    

 

 

  

Long-lived assets:

                        

United States

   $ 145,217     $ 117,751     $ 122,149  

Canada

     47,624       51,182       50,757  

United Kingdom

     8,165       8,295       8,602  

Other international

     3,858       3,481       2,561  
   

 

 

    

 

 

    

 

 

  

Total long-lived assets

   $ 204,864     $ 180,709     $ 184,069