XML 75 R16.htm IDEA: XBRL DOCUMENT v2.4.0.6
Stockholders' Equity
 9 Months Ended
Sep. 30, 2012
Stockholders' Equity [Abstract]  
Stockholders' Equity

Note 10. 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, 2012:

 

                         
    Total Viad
Stockholders’
Equity		     Noncontrolling
Interest		     Total
Stockholders’
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  
   

 

 

    

 

 

    

 

 

  

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, 2011:

 

                         
    Total Viad
Stockholders’
Equity		     Noncontrolling
Interest		     Total
Stockholders’
Equity		  
    (in thousands)  

Balance at January 1, 2011

   $ 378,959     $ 7,752     $ 386,711  

Net income

     15,517       675       16,192  

Dividends on common stock

     (2,435 )      —         (2,435 ) 

Common stock purchased for treasury

     (5,230 )      —         (5,230 ) 

Employee benefit plans

     2,800       —         2,800  

Unrealized foreign currency translation adjustment

     (7,460 )      —         (7,460 ) 

Unrealized loss on investments

     (99 )      —         (99 ) 

Prior service credit and net actuarial loss

     (133 )      —         (133 ) 

ESOP allocation adjustment

     920       —         920  

Other

     4       —         4  
   

 

 

    

 

 

    

 

 

  

Balance at September 30, 2011

   $ 382,843     $ 8,427     $ 391,270  
   

 

 

    

 

 

    

 

 

  

 

Viad has announced its intent to repurchase shares of the Company’s common stock from time to time at prevailing market prices. During the nine months ended September 30, 2011, Viad repurchased 250,760 shares for $4.6 million. During the nine months ended September 30, 2012, no shares were repurchased. As of September 30, 2012, 53,621 shares remain available for repurchase under the announced authorization. Additionally, during the nine months ended September 30, 2012 and 2011, the Company repurchased 53,019 shares for $1.0 million and 28,627 shares for $679,000, respectively, related to tax withholding requirements on share-based awards.

In August 2012, Viad’s Board of Directors approved a 150 percent increase in the quarterly dividend from $0.04 per share to $0.10 per share. The dividend was paid on October 1, 2012 to stockholders of record on September 7, 2012.