Goodwill and Other Intangible Assets

6 Months Ended

Jun. 30, 2013

Goodwill And Intangible Assets Disclosure [Abstract]

Note 7. Goodwill and Other Intangible Assets

The changes in the carrying amount of goodwill for the six months ended June 30, 2013, were as follows:


			Marketing &
	Marketing &		Events			Travel &
	Events U.S.		International			Recreation Group			Total
	(in thousands)
Balance at January 1, 2013	$	62,686	$	23,054		$	52,080		$	137,820
Business acquisition		—		158			—			158
Foreign currency translation adjustments		—		(1,659	)		(2,897	)		(4,556	)

Balance at June 30, 2013	$	62,686	$	21,553		$	49,183		$	133,422

The following table summarizes goodwill by reporting unit and segment:


	June 30,		December 31,
	2013		2012
	(in thousands)
Marketing & Events Group:
Marketing & Events U.S.	$	62,686	$	62,686
Marketing & Events International:
GES United Kingdom		12,907		13,894
GES Canada		8,646		9,160

Total Marketing & Events Group		84,239		85,740

Travel & Recreation Group:
Brewster		41,538		44,435
Glacier Park		4,461		4,461
Alaska Denali Travel		3,184		3,184

Total Travel & Recreation Group		49,183		52,080

Total goodwill	$	133,422	$	137,820

A summary of other intangible assets as of June 30, 2013, is presented below:


	Gross Carrying		Accumulated			Net Carrying
	Value		Amortization			Value
			(in thousands)
Amortized intangible assets:
Contracts and customer relationships	$	5,428	$	(1,960	)	$	3,468
Other		1,152		(170	)		982

		6,580		(2,130	)		4,450
Unamortized intangible assets:
Business licenses		460		—			460

Total	$	7,040	$	(2,130	)	$	4,910

A summary of other intangible assets as of December 31, 2012 is presented below:


	Gross Carrying		Accumulated			Net Carrying
	Value		Amortization			Value
	(in thousands)
Amortized intangible assets:
Contracts and customer relationships	$	3,594	$	(2,384	)	$	1,210
Other		959		(108	)		851

		4,553		(2,492	)		2,061
Unamortized intangible assets:
Business licenses		460		—			460

Total	$	5,013	$	(2,492	)	$	2,521

During the six months ended June 30, 2013, Viad recorded a contract-related intangible asset of $2.1 million in connection with a preferred supplier agreement. Intangible asset amortization expense for the three months ended June 30, 2013 and 2012 was $320,000 and $186,000, respectively, and $612,000 and $321,000 for the six months ended June 30, 2013 and 2012, respectively. Estimated amortization expense related to amortized intangible assets for future periods is expected to be as follows:


	(in thousands)
2013	$	631
2014		955
2015		757
2016		638
2017		844
Thereafter		625

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

+ References+ Details