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Stockholders' Equity
 3 Months Ended
Mar. 31, 2013
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 three months ended March 31, 2013:

 

                         
    Total Viad           Total  
    Stockholders’     Noncontrolling     Stockholders’  
    Equity     Interest     Equity  
   

(in thousands)

  

Balance at January 1, 2013

   $ 388,061     $ 8,971     $ 397,032  

Net income (loss)

     8,065       (275 )      7,790  

Dividends on common stock

     (2,034 )      —         (2,034 ) 

Common stock purchased for treasury

     (1,187 )      —         (1,187 ) 

Employee benefit plans

     1,792       —         1,792  

Unrealized foreign currency translation adjustment

     (6,128 )      —         (6,128 ) 

Unrealized gain on investments

     61       —         61  

Prior service credit and net actuarial loss

     41       —         41  

ESOP allocation adjustment

     250       —         250  

Other

     1       —         1  
   

 

 

    

 

 

    

 

 

  

Balance at March 31, 2013

   $ 388,922     $ 8,696     $ 397,618  
   

 

 

    

 

 

    

 

 

  

The following represents a reconciliation of the carrying amounts of stockholders’ equity attributable to Viad and the noncontrolling interest for the three months ended March 31, 2012:

 

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

Balance at January 1, 2012

   $ 377,894     $ 8,285     $ 386,179  

Net income (loss)

     1,027       (212 )      815  

Dividends on common stock

     (813 )      —         (813 ) 

Common stock purchased for treasury

     (1,000 )      —         (1,000 ) 

Employee benefit plans

     1,080       —         1,080  

Unrealized foreign currency translation adjustment

     4,386       —         4,386  

Unrealized gain on investments

     93       —         93  

Prior service credit and net actuarial loss

     3       —         3  

ESOP allocation adjustment

     250       —         250  

Other

     (2 )      (1 )      (3 ) 
   

 

 

    

 

 

    

 

 

  

Balance at March 31, 2012

   $ 382,918     $ 8,072     $ 390,990  
   

 

 

    

 

 

    

 

 

  

In December 2012, Viad announced its intent to repurchase up to an additional one million shares of the Company’s common stock from time to time at prevailing market prices. At the time of the announcement, there were 30,438 shares available for repurchase pursuant to previously announced authorizations. Under these authorizations, no shares were repurchased during the three months ended March 31, 2013 or 2012. As of March 31, 2013, 1,030,438 shares remain available for repurchase. Additionally, during the three months ended March 31, 2013 and 2012, the Company repurchased 44,606 shares for $1.2 million and 50,894 shares for $1.0 million, respectively, related to tax withholding requirements on share-based awards.

 

Changes in accumulated other comprehensive income (“AOCI”) by component were as follows:

 

                                 
    Unrealized
Gains on
Investments		     Cumulative
Foreign
Currency
Translation
Adjustments		     Unrecognized
Net Actuarial
Loss and Prior
Service Credit		     Accumulated
Other
Comprehensive
Income		  
    (in thousands)  

Balance at January 1, 2013

   $ 275     $ 42,158     $ (14,968 )    $ 27,465  

Other comprehensive income before reclassifications

     79       (6,128 )      —         (6,049 ) 

Amounts reclassified from AOCI, net of tax

    (18 )     
 —  
  
     41       23  
   

 

 

    

 

 

    

 

 

    

 

 

  

Net other comprehensive income (loss)

     61       (6,128 )      41       (6,026 ) 
   

 

 

    

 

 

    

 

 

    

 

 

  

Balance at March 31, 2013

   $ 336     $ 36,030     $ (14,927 )    $ 21,439  
   

 

 

    

 

 

    

 

 

    

 

 

  

The following table presents information about reclassification adjustments out of AOCI for the three months ended March 31:

 

                     
    2013     2012    

Affected Line

Item in the
Statement Where Net
Income is Presented
    (in thousands)      

Unrealized gains on investments

   $ (27 )    $ (48 )   

Interest income
      9       18     Income tax expense
   

 

 

    

 

 

      
    $ (18 )    $ (30 )    Net of tax
   

 

 

    

 

 

      

Recognized net actuarial loss

  $ 290     $ 284     See (1) below

Amortization of prior service credit

     (225 )      (278 )    See (1) below
      (24 )      (3 )   

Income tax benefit
   

 

 

    

 

 

      
    $ 41     $ 3     Net of tax
   

 

 

    

 

 

      

 

  (1) Amount is included in pension expense. See Note 14 for additional information.