Acquisition of Businesses (Tables)

12 Months Ended

Dec. 31, 2017

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table summarizes the final allocation of the aggregate purchase price paid and amounts of assets acquired and liabilities assumed based upon the estimated fair value at the date of acquisitions. The balances in the table below remain unchanged from the balances reflected in the Consolidated Balance Sheets in our Annual Report on Form 10-K for the year ended December 31, 2016.

	Maligne Lake Tours		CATC			ON Services		FlyOver Canada
(in thousands)
Purchase price paid as:
Cash	$	14,962	$	45,000		$	87,000	$	50,920
Working capital adjustment		—		(35	)		344		—
Contingent consideration		—		—			540		—
Cash acquired		—		(2,196	)		—		(6	)
Total purchase price, net of cash acquired		14,962		42,769			87,884		50,914

Fair value of net assets acquired:
Accounts receivable		—		8			4,643		—
Inventories		246		921			256		11
Prepaid expenses		2		82			872		37
Property and equipment		4,133		43,470			14,827		10,867
Intangible assets		9,244		980			33,990		6,028
Total assets acquired		13,625		45,461			54,588		16,943
Accounts payable		—		306			992		—
Accrued liabilities		—		434			564		118
Customer deposits		15		1,952			851		—
Other liabilities		240		—			274		—
Total liabilities acquired		255		2,692			2,681		118
Total fair value of net assets acquired		13,370		42,769			51,907		16,825
Excess purchase price over fair value of net assets acquired (“goodwill”)	$	1,592	$	—		$	35,977	$	34,089

Schedule of Purchase Price Allocated to Intangible Assets Acquired

Following are the details of the purchase price allocated to the intangible assets acquired for the 2016 Acquisitions:

(in thousands, except weighted average life)	Maligne Lake Tours		CATC		ON Services		FlyOver Canada
Customer relationships	$	788	$	780	$	27,620	$	1,592
Operating licenses		8,313		—		—		—
Trade name		143		200		3,190		3,710
Non-compete agreements		—		—		3,180		726
Fair value of intangible assets acquired	$	9,244	$	980	$	33,990	$	6,028
Weighted average life	26.7 years⁽¹⁾		5.8 years		10.5 years		9.4 years

⁽¹⁾	Largely attributable to operating licenses amortized over the remaining Parks Canada lease of 29 years.

Unaudited Pro Forma Results of Operations

The following table summarizes our unaudited pro forma results of operations assuming the 2016 Acquisitions had each been completed on January 1, 2015:

	Year Ended December 31,
(in thousands, except per share data)	2016		2015
Revenue	$	1,250,290	$	1,183,656
Depreciation and amortization	$	52,074	$	52,631
Income from continuing operations	$	43,727	$	27,881
Net income attributable to Viad	$	42,517	$	27,045
Diluted income per share	$	2.10	$	1.35
Basic income per share	$	2.10	$	1.35