Pension and Postretirement Benefits (Tables)

12 Months Ended

Dec. 31, 2015

Compensation And Retirement Disclosure [Abstract]

Components of net periodic benefit cost and other amounts recognized in other comprehensive income of Viad's postretirement benefit plans

The components of net periodic benefit cost and other amounts recognized in other comprehensive income of Viad’s pension plans included the following:

	December 31,
(in thousands)	2015			2014			2013
Net periodic benefit cost:
Service cost	$	101		$	87		$	66
Interest cost		1,018			1,079			1,030
Expected return on plan assets		(380	)		(436	)		(400	)
Recognized net actuarial loss		492			407			583
Net periodic benefit cost		1,231			1,137			1,279
Other changes in plan assets and benefit obligations recognized in other comprehensive income:
Net actuarial loss (gain)		(963	)		3,418			(2,565	)
Reversal of amortization item:
Net actuarial loss		(492	)		(407	)		(583	)
Total recognized in other comprehensive income (loss)		(1,455	)		3,011			(3,148	)
Total recognized in net periodic benefit cost and other comprehensive income (loss)	$	(224	)	$	4,148		$	(1,869	)

The components of net periodic benefit cost and other amounts recognized in other comprehensive income of Viad’s postretirement benefit plans included the following:

	December 31,
(in thousands)	2015			2014			2013
Net periodic benefit cost:
Service cost	$	152		$	129		$	156
Interest cost		619			640			663
Expected return on plan assets		—			—			—
Amortization of prior service credit		(552	)		(593	)		(902	)
Recognized net actuarial loss		528			166			518
Net periodic benefit cost		747			342			435
Other changes in plan assets and benefit obligations recognized in other comprehensive income:
Net actuarial loss (gain)		(1,248	)		1,045			(1,496	)
Prior service credit		3			(1,283	)		(40	)
Reversal of amortization item:
Net actuarial loss		(528	)		(166	)		(518	)
Prior service credit		552			593			902
Total recognized in other comprehensive income (loss)		(1,221	)		189			(1,152	)
Total recognized in net periodic benefit cost and other comprehensive income (loss)	$	(474	)	$	531		$	(717	)

The components of net periodic benefit cost and other amounts recognized in other comprehensive income included the following:

	December 31,
(in thousands)	2015			2014			2013
Net periodic benefit cost:
Service cost	$	503		$	413		$	534
Interest cost		505			631			702
Expected return on plan assets		(583	)		(640	)		(698	)
Recognized net actuarial loss		160			145			248
Net periodic benefit cost		585			549			786
Other changes in plan assets and benefit obligations recognized in other comprehensive income:
Net actuarial loss (gain)		182			361			(1,214	)
Reversal of amortization of net actuarial loss		(160	)		145			(248	)
Total recognized in other comprehensive income (loss)		22			506			(1,462	)
Total recognized in net periodic benefit cost and other comprehensive income (loss)	$	607		$	1,055		$	(676	)

Summary of funded status of the plans

The following table indicates the funded status of the plans as of December 31:

													Postretirement
	Funded Plans						Unfunded Plans						Benefit Plans
(in thousands)	2015			2014			2015			2014			2015			2014
Change in benefit obligation:
Benefit obligation at beginning of year	$	16,012		$	13,435		$	11,127		$	10,536		$	16,235		$	16,919
Service cost		—			—			101			87			152			129
Interest cost		616			644			402			435			619			640
Actuarial adjustments		(1,013	)		2,700			(1,072	)		649			(1,248	)		1,011
Plan amendments		—			—			—			—			3			(1,283	)
Benefits paid		(709	)		(767	)		(509	)		(580	)		(1,188	)		(1,181	)
Benefit obligation at end of year		14,906			16,012			10,049			11,127			14,573			16,235
Change in plan assets:
Fair value of plan assets at beginning of year		11,198			10,872			—			—			—			520
Actual return on plan assets		(742	)		364			—			—			—			(34	)
Company contributions		732			729			509			580			1,188			695
Benefits paid		(709	)		(767	)		(509	)		(580	)		(1,188	)		(1,181	)
Fair value of plan assets at end of year		10,479			11,198			—			—			—			—
Funded status at end of year	$	(4,427	)	$	(4,814	)	$	(10,049	)	$	(11,127	)	$	(14,573	)	$	(16,235	)

The following table represents the funded status of the plans as of December 31:

	Funded Plans						Unfunded Plans
(in thousands)	2015			2014			2015			2014
Change in benefit obligation:
Benefit obligation at beginning of year	$	12,016		$	11,460		$	2,756		$	2,911
Service cost		503			413			—			—
Interest cost		415			507			89			124
Actuarial adjustments		(176	)		1,042			178			234
Benefits paid		(1,115	)		(344	)		(179	)		(211	)
Translation adjustment		(1,899	)		(1,062	)		(374	)		(302	)
Benefit obligation at end of year		9,744			12,016			2,470			2,756
Change in plan assets:
Fair value of plan assets at beginning of year		11,747			11,560			—			—
Actual return on plan assets		377			983			—			—
Company contributions		566			604			179			211
Benefits paid		(1,115	)		(344	)		(179	)		(211	)
Translation adjustment		(1,870	)		(1,056	)		—			—
Fair value of plan assets at end of year		9,705			11,747			—			—
Funded status at end of year	$	(39	)	$	(269	)	$	(2,470	)	$	(2,756	)

Net amount recognized in Viad's consolidated balance sheets

The net amounts recognized in Viad’s consolidated balance sheets under the caption “Pension and postretirement benefits” as of December 31 were as follows:

									Postretirement
	Funded Plans				Unfunded Plans				Benefit Plans
(in thousands)	2015		2014		2015		2014		2015		2014
Other current liabilities	$	—	$	—	$	645	$	635	$	1,122	$	1,094
Non-current liabilities		4,427		4,814		9,404		10,492		13,451		15,141
Net amount recognized	$	4,427	$	4,814	$	10,049	$	11,127	$	14,573	$	16,235

The net amounts recognized in Viad’s consolidated balance sheets under the caption “Pension and postretirement benefits” as of December 31 were as follows:


	Funded Plans				Unfunded Plans
(in thousands)	2015		2014		2015		2014
Other current liabilities	$	—	$	—	$	162	$	94
Non-current liabilities		39		318		2,308		2,662
Net amount recognized	$	39	$	318	$	2,470	$	2,756

Amounts recognized in accumulated other comprehensive income

Amounts recognized in accumulated other comprehensive income as of December 31, 2015 consisted of:

(in thousands)	Funded Plans			Unfunded Plans			Postretirement Benefit Plans			Total
Net actuarial loss	$	9,202		$	2,806		$	3,795		$	15,803
Prior service credit		—			—			(2,173	)		(2,173	)
Subtotal		9,202			2,806			1,622			13,630
Less tax effect		(3,490	)		(1,064	)		(615	)		(5,169	)
Total	$	5,712		$	1,742		$	1,007		$	8,461

Amounts recognized in accumulated other comprehensive income as of December 31, 2014 consisted of:

(in thousands)	Funded Plans			Unfunded Plans			Postretirement Benefit Plans			Total
Net actuarial loss	$	9,442		$	4,020		$	5,571		$	19,033
Prior service credit		—			—			(2,729	)		(2,729	)
Subtotal		9,442			4,020			2,842			16,304
Less tax effect		(3,581	)		(1,525	)		(1,078	)		(6,184	)
Total	$	5,861		$	2,495		$	1,764		$	10,120

Fair value of plans' assets by asset class

The fair value of the domestic plans’ assets by asset class was as follows:

			Fair Value Measurements at December 31, 2015
			Quoted Prices in Active Markets		Significant Other Observable Inputs		Significant Unobserved Inputs
(in thousands)	Total		(Level 1)		(Level 2)		(Level 3)
Domestic pension plans:
Fixed income securities	$	5,453	$	5,453	$	—	$	—
U.S. equity securities		4,459		4,459		—		—
Cash		357		357		—		—
Other		210		—		210		—
Total	$	10,479	$	10,269	$	210	$	—

			Fair Value Measurements at December 31, 2014
			Quoted Prices in Active Markets		Significant Other Observable Inputs		Significant Unobserved Inputs
(in thousands)	Total		(Level 1)		(Level 2)		(Level 3)
Domestic pension plans:
Fixed income securities	$	6,534	$	6,534	$	—	$	—
U.S. equity securities		3,855		3,855		—		—
Cash		552		552		—		—
Other		257		—		257		—
Total	$	11,198	$	10,941	$	257	$	—

The fair value of the foreign pension plans’ assets by asset category was as follows:

			Fair Value Measurements at December 31, 2015
(in thousands)	Total		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobserved Inputs (Level 3)
Assets:
Canadian fixed income securities	$	4,372	$	4,372	$	—	$	—
International equity securities		3,896		3,521		375		—
U.S. equity securities		1,012		1,012		—		—
Other		425		425		—		—
Total	$	9,705	$	9,330	$	375	$	—

			Fair Value Measurements at December 31, 2014
(in thousands)	Total		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobserved Inputs (Level 3)
Assets:
Canadian fixed income securities	$	5,367	$	5,367	$	—	$	—
International equity securities		4,693		4,273		420		—
U.S. equity securities		1,236		1,236		—		—
Other		451		451		—		—
Total	$	11,747	$	11,327	$	420	$	—

Payments and receipts reflecting expected future service

The following pension and postretirement benefit payments, which reflect expected future service, as appropriate, are expected to be paid:

(in thousands)	Funded Plans		Unfunded Plans		Postretirement Benefit Plans
2016	$	834	$	659	$	1,146
2017	$	875	$	697	$	1,157
2018	$	895	$	722	$	1,153
2019	$	922	$	735	$	1,123
2020	$	988	$	737	$	1,112
2021-2025	$	4,879	$	3,447	$	5,021

The following payments, which reflect expected future service, as appropriate, are expected to be paid:

(in thousands)	Funded Plans		Unfunded Plans
2016	$	311	$	166
2017	$	383	$	166
2018	$	395	$	166
2019	$	449	$	165
2020	$	451	$	165
2021-2025	$	2,716	$	816

Accumulated benefit obligation in excess of plan assets

The accumulated benefit obligations in excess of plan assets as of December 31 were as follows:

	Domestic Plans
	Funded Plans				Unfunded Plans
(in thousands)	2015		2014		2015		2014
Projected benefit obligation	$	14,906	$	16,012	$	10,049	$	11,127
Accumulated benefit obligation	$	14,906	$	16,012	$	9,934	$	11,014
Fair value of plan assets	$	10,479	$	11,200	$	—	$	—

	Foreign Plans
	Funded Plans				Unfunded Plans
(in thousands)	2015		2014		2015		2014
Projected benefit obligation	$	9,744	$	12,016	$	2,470	$	2,756
Accumulated benefit obligation	$	9,186	$	11,268	$	2,470	$	2,656
Fair value of plan assets	$	9,705	$	11,747	$	—	$	—

Weighted-average assumptions used to determine benefit obligations

Weighted-average assumptions used to determine benefit obligations as of December 31 were as follows:

	Domestic Plans
	Funded Plans						Unfunded Plans						Postretirement Benefit Plans						Foreign Plans
	2015			2014			2015			2014			2015			2014			2015			2014
Discount rate		4.37	%		4.01	%		4.25	%		3.90	%		4.30	%		4.00	%		3.76	%		3.85	%
Rate of compensation increase	N/A			N/A				3.00	%		3.00	%	N/A			N/A				2.31	%		3.00	%

Weighted-average assumptions used to determine net periodic benefit cost were as follows:

	Domestic Plans
	Funded Plans						Unfunded Plans						Postretirement Benefit Plans						Foreign Plans
	2015			2014			2015			2014			2015			2014			2015			2014
Discount rate		3.97	%		4.90	%		3.90	%		4.60	%		4.00	%		4.65	%		3.86	%		4.67	%
Expected return on plan assets		3.33	%		4.15	%	N/A			N/A				0.00	%		0.00	%		4.51	%		5.69	%
Rate of compensation increase	N/A			N/A				3.00	%		3.00	%	N/A			N/A				2.31	%		3.00	%

Multi-employer pension plans

The “FIP/RP Status Pending/Implemented” column indicates plans for which a financial improvement plan or a rehabilitation plan is either pending or has been implemented.

		Plan		Pension Protection Act Zone Status		FIP/RP Status Pending/ Implemented	Viad Contributions						Surcharge Paid	Expiration Date of Collective- Bargaining Agreement(s)
(in thousands)	EIN	No.		2015	2014		2015		2014		2013
Pension Fund:
Western Conference of Teamsters Pension Plan	91-6145047		1	Green	Green	No	$	5,632	$	6,369	$	5,524	No	5/31/2018
Southern California Local 831—Employer Pension Fund ⁽¹⁾	95-6376874		1	Green	Green	No		2,485		2,481		2,244	No	8/31/17
Chicago Regional Council of Carpenters Pension Fund	36-6130207		1	Yellow	Yellow	Yes		1,887		1,946		1,614	No	5/31/18
Electrical Contractors Assoc. Chicago Local Union 134, IBEW Joint Pension Trust of Chicago Plan #2	51-6030753		2	Green	Green	No		1,190		1,081		957	No	6/3/17
IBEW Local Union No 357 Pension Plan A⁽²⁾	88-6023284		1	Green	Green	No		1,150		1,457		1,631	No	6/16/18
Central States, Southeast and Southwest Areas Pension Plan	36-6044243		1	Red	Red	Yes		948		1,018		836	No	7/31/18
Southern California IBEW-NECA Pension Fund	95-6392774		1	Yellow	Yellow	Yes		835		768		184	No	continuous
National Electrical Benefit Fund	53-0181657		1	Green	Green	No		771		167		193	No	6/16/18
Southwest Carpenters Pension Trust	95-6042875		1	Green	Green	No		750		885		812	No	6/30/18
Sign Pictorial & Display Industry Pension Plan ⁽¹⁾	94-6278490		1	Green	Green	No		541		439		367	No	3/31/18
Machinery Movers Riggers & Mach Erect Local 136 Supplemental Retirement Plan ⁽¹⁾	36-1416355		11	Red	Red	Yes		502		993		430	Yes	6/30/19
All other funds ⁽³⁾								3,869		3,491		2,032
Total contributions to defined benefit plans								20,560		21,095		16,824
Total contributions to other plans								1,428		2,057		3,489
Total contributions to multi-employer plans							$	21,988	$	23,152	$	20,313

⁽¹⁾	The Company contributed more than 5 percent of total plan contributions for the 2014 and 2013 plan years based on the plans’ Form 5500s.

⁽²⁾	The Company contributed more than 5 percent of total plan contributions for the 2013 plan year based on the plans’ Form 5500.

⁽³⁾	Represents participation in 45 pension funds during 2015.