Stockholders' Equity

6 Months Ended

Jun. 30, 2013

Equity [Abstract]

Stockholders' Equity

Note 10. Stockholders’ Equity

The following represents a reconciliation of the carrying amounts of stockholders’ equity attributable to Viad and the noncontrolling interest for the six months ended June 30, 2013:

	Total Viad						Total
	Stockholders’			Noncontrolling			Stockholders’
	Equity			Interest			Equity
	(in thousands)
Balance at January 1, 2013	$	388,061		$	8,971		$	397,032
Net income (loss)		14,318			(468	)		13,850
Dividends on common stock		(4,066	)		—			(4,066	)
Common stock purchased for treasury		(1,252	)		—			(1,252	)
Employee benefit plans		2,717			—			2,717
Unrealized foreign currency translation adjustment		(11,423	)		—			(11,423	)
Unrealized gain on investments		55			—			55
Prior service credit and net actuarial loss		81			—			81
ESOP allocation adjustment		500			—			500
Other		(1	)		—			(1	)
Balance at June 30, 2013	$	388,990		$	8,503		$	397,493

The following represents a reconciliation of the carrying amounts of stockholders’ equity attributable to Viad and the noncontrolling interest for the six months ended June 30, 2012:

	Total Viad						Total
	Stockholders’			Noncontrolling			Stockholders’
	Equity			Interest			Equity
Balance at January 1, 2012	$	377,894		$	8,285		$	386,179
Net income (loss)		7,117			(462	)		6,655
Dividends on common stock		(1,623	)		—			(1,623	)
Common stock purchased for treasury		(1,000	)		—			(1,000	)
Employee benefit plans		2,279			—			2,279
Unrealized foreign currency translation adjustment		996			—			996
Unrealized gain on investments		51			—			51
Prior service credit and net actuarial loss		5			—			5
ESOP allocation adjustment		650			—			650
Other		(2	)		(1	)		(3	)
Balance at June 30, 2012	$	386,367		$	7,822		$	394,189

In December 2012, Viad announced its intent to repurchase up to an additional one million shares of the Company’s common stock from time to time at prevailing market prices. At the time of the announcement, there were 30,438 shares available for repurchase pursuant to previously announced authorizations. No shares were repurchased during the six months ended June 30, 2013 or 2012. As of June 30, 2013, 1,030,438 shares remain available for repurchase. Additionally, during the six months ended June 30, 2013 and 2012, the Company repurchased 47,160 shares for $1.3 million and 50,894 shares for $1.0 million, respectively, related to tax withholding requirements on share-based awards.

Changes in accumulated other comprehensive income (“AOCI”) by component were as follows:

	Unrealized Gains on Investments			Cumulative Foreign Currency Translation Adjustments			Unrecognized Net Actuarial Loss and Prior Service Credit			Accumulated Other Comprehensive Income
	(in thousands)
Balance at January 1, 2013	$	275		$	42,158		$	(14,968	)	$	27,465
Other comprehensive income before reclassifications		91			(11,423	)		—			(11,332	)
Amounts reclassified from AOCI, net of tax		(36	)		—			81			45
Net other comprehensive income (loss)		55			(11,423	)		81			(11,287	)
Balance at June 30, 2013	$	330		$	30,735		$	(14,887	)	$	16,178

The following table presents information about reclassification adjustments out of AOCI for the six months ended June 30:

	2013			2012			Affected Line Item in the Statement Where Net Income is Presented
	(in thousands)
Unrealized gain on investments	$	(57	)	$	(12	)	Interest income
		21			4		Income tax expense
	$	(36	)	$	(8	)	Net of tax
Recognized net actuarial loss	$	584		$	565		See (1) below
Amortization of prior service credit		(453	)		(557	)	See (1) below
		(50	)		(4	)	Income tax benefit
	$	81		$	4		Net of tax

(1) Amount is included in pension expense. See Note 14 for additional information.