Segment Information

9 Months Ended

Sep. 30, 2017

Segment Reporting [Abstract]

Segment Information

Note 19. Segment Information

Viad measures profit and performance of its operations on the basis of segment operating income (loss) 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.

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

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
(in thousands)	2017			2016			2017			2016
Revenue:
GES:
U.S.	$	184,761		$	232,484		$	684,003		$	636,299
International		54,040			60,926			203,222			187,689
Intersegment eliminations		(6,682	)		(6,425	)		(17,126	)		(15,439	)
Total GES		232,119			286,985			870,099			808,549
Pursuit		106,980			97,402			159,581			143,111
Corporate eliminations (1)		—			(1,922	)		—			(3,086	)
Total revenue	$	339,099		$	382,465		$	1,029,680		$	948,574
Segment operating income (loss):
GES:
U.S.	$	(2,851	)	$	14,543		$	39,319		$	37,907
International		(2,870	)		644			8,491			4,951
Total GES		(5,721	)		15,187			47,810			42,858
Pursuit		53,860			44,248			53,523			44,733
Segment operating income		48,139			59,435			101,333			87,591
Corporate eliminations (1)		18			(518	)		50			(940	)
Corporate activities		(4,474	)		(2,772	)		(10,092	)		(7,390	)
Operating income		43,683			56,145			91,291			79,261
Interest income		74			44			174			138
Interest expense		(2,117	)		(1,489	)		(6,281	)		(4,109	)
Restructuring charges:
GES U.S.		435			(1,498	)		364			(1,791	)
GES International		(689	)		(203	)		(1,043	)		(1,374	)
Pursuit		—			—			—			(93	)
Corporate		(1	)		4			(138	)		(406	)
Impairment recoveries (charges):
Pursuit		24,467			(120	)		29,098			(120	)
Income from continuing operations before income taxes	$	65,852		$	52,883		$	113,465		$	71,506

⁽¹⁾ Corporate eliminations recorded during the three and nine months ended September 30, 2017 represent the elimination of depreciation expense recorded by Pursuit associated with previously eliminated intercompany profit realized by GES for renovations to Pursuit’s Banff Gondola. The corporate eliminations recorded during the three and nine months ended September 30, 2016 represent the elimination of intercompany revenue and profit realized by GES for work completed on renovations to Pursuit’s Banff Gondola.