Segment Information

9 Months Ended

Sep. 30, 2016

Segment Reporting [Abstract]

Segment Information

Note 19. 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. 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.

Viad’s reportable segments, with reconciliations to consolidated totals, are as follows:

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
(in thousands)	2016			2015			2016			2015
Revenue:
Marketing & Events Group:
U.S. Segment	$	232,484		$	148,314		$	636,299		$	550,006
International Segment		60,926			44,870			187,689			195,829
Intersegment eliminations		(6,425	)		(4,321	)		(15,439	)		(13,475	)
Total Marketing & Events Group		286,985			188,863			808,549			732,360
Travel & Recreation Group		97,402			67,083			143,111			105,017
Corporate eliminations (1)		(1,922	)		—			(3,086	)		—
Total revenue	$	382,465		$	255,946		$	948,574		$	837,377
Segment operating income (loss):
Marketing & Events Group:
U.S. Segment	$	14,543		$	(9,039	)	$	37,907		$	12,572
International Segment		644			(5,751	)		4,951			6,405
Total Marketing & Events Group		15,187			(14,790	)		42,858			18,977
Travel & Recreation Group		44,248			29,361			44,733			30,755
Segment operating income		59,435			14,571			87,591			49,732
Corporate eliminations (1)		(518	)		—			(940	)		—
Corporate activities		(2,772	)		(1,354	)		(7,390	)		(6,147	)
Operating income		56,145			13,217			79,261			43,585
Interest income		44			65			138			571
Interest expense		(1,489	)		(1,198	)		(4,109	)		(3,452	)
Restructuring charges:
Marketing & Events U.S. Segment		(1,498	)		(25	)		(1,791	)		(496	)
Marketing & Events International Segment		(203	)		(213	)		(1,374	)		(484	)
Travel & Recreation Group		—			(18	)		(93	)		(160	)
Corporate		4			(1	)		(406	)		(402	)
Impairment charges:
Travel & Recreation Group		(120	)		—			(120	)		—
Income from continuing operations before income taxes	$	52,883		$	11,827		$	71,506		$	39,162

⁽¹⁾ Represents the elimination of intercompany revenue and profit realized by the Marketing & Events Group for work completed on renovations for the Travel & Recreation Group’s Banff Gondola.