Stockholders' Equity

9 Months Ended

Sep. 30, 2013

Equity [Abstract]

Stockholders' Equity

Note 11. Stockholders’ Equity

The following represents a reconciliation of the carrying amounts of stockholders’ equity attributable to Viad and the noncontrolling interest for the nine months ended September 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		26,173			425		26,598
Dividends on common stock		(6,095	)		—		(6,095	)
Common stock purchased for treasury		(1,294	)		—		(1,294	)
Employee benefit plans		3,485			—		3,485
Unrealized foreign currency translation adjustment		(6,092	)		—		(6,092	)
Unrealized gain on investments		117			—		117
Prior service credit and net actuarial loss		91			—		91
ESOP allocation adjustment		850			—		850
Balance at September 30, 2013	$	405,296		$	9,396	$	414,692

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

	Total Viad						Total
	Stockholders’			Noncontrolling			Stockholders’
	Equity			Interest			Equity
				(in thousands)
Balance at January 1, 2012	$	377,894		$	8,285		$	386,179
Net income		27,093			618			27,711
Dividends on common stock		(3,649	)		—			(3,649	)
Common stock purchased for treasury		(1,038	)		—			(1,038	)
Employee benefit plans		3,370			—			3,370
Unrealized foreign currency translation adjustment		7,225			—			7,225
Unrealized gain on investments		66			—			66
Prior service credit and net actuarial loss		(35	)		—			(35	)
ESOP allocation adjustment		1,150			—			1,150
Other		1			(1	)		—
Balance at September 30, 2012	$	412,077		$	8,902		$	420,979

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 nine months ended September 30, 2013 or 2012. As of September 30, 2013, 1,030,438 shares were available for repurchase. Additionally, during the nine months ended September 30, 2013 and 2012, the Company repurchased 48,937 shares for $1.3 million and 53,019 shares for $1.0 million pursuant to separate authority, respectively, related to tax withholding requirements on share-based awards.

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

				Cumulative			Unrecognized
				Foreign			Net Actuarial			Accumulated
	Unrealized			Currency			Loss and			Other
	Gains on			Translation			Prior Service			Comprehensive
	Investments			Adjustments			Credit			Income
	(in thousands)
Balance at January 1, 2013	$	275		$	42,158		$	(14,968	)	$	27,465
Other comprehensive income before reclassifications		162			(6,092	)		—			(5,930	)
Amounts reclassified from AOCI, net of tax		(45	)		—			91			46
Net other comprehensive income (loss)		117			(6,092	)		91			(5,884	)
Balance at September 30, 2013	$	392		$	36,066		$	(14,877	)	$	21,581

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

							Affected Line
							Item in the
							Statement Where
							Net Income is
	2013			2012			Presented
	(in thousands)
Unrealized gain on investments	$	(72	)	$	(45	)	Interest income
Tax effect		27			16		Income tax expense
	$	(45	)	$	(29	)	Net of tax
Recognized net actuarial loss	$	827		$	778		See (1) below
Amortization of prior service credit		(680	)		(835	)	See (1) below
Tax effect		(56	)		(21	)	Income tax benefit
	$	91		$	(78	)	Net of tax

(1) Amount is included in pension expense. See Note 15 for additional information.