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Acquisition of Businesses (Tables) | 6 Months Ended
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Jun. 30, 2019
Business Combinations [Abstract] |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The following table summarizes the preliminary recording of the fair value allocation of the assets acquired and liabilities assumed as of the date of acquisition. Due to the recent timing of the acquisition, the purchase price allocation is not yet final and is subject to change within the measurement period (up to one year from the acquisition date) as the valuation of property and equipment, intangible assets, and working capital is finalized.
(in thousands) |  |  |  |  |  |  |  |
Purchase price paid as: |  |  |  |  |  |  |  |
Cash |  |  |  |  |  | $ | 70,975 |
Additional purchase price payable for tax liability |  |  |  |  |  |  | 4,874 |
Net working capital adjustment |  |  |  |  |  |  | (6 | )
Consideration transferred |  |  |  |  |  |  | 75,843 |
Right to manage |  |  |  |  |  |  | (1,276 | )
Purchase price, net |  |  |  |  |  |  | 74,567 |
Fair value of net assets acquired: |  |  |  |  |  |  |  |
Accounts receivable |  | $ | 369 |  |  |  |  |
Inventories |  |  | 173 |  |  |  |  |
Prepaid expenses |  |  | 324 |  |  |  |  |
Property and equipment |  |  | 115,878 |  |  |  |  |
Intangible assets |  |  | 9,218 |  |  |  |  |
Total assets acquired |  |  | 125,962 |  |  |  |  |
Accounts payable |  |  | 366 |  |  |  |  |
Advanced deposits payable |  |  | 449 |  |  |  |  |
Deferred tax liability |  |  | 11,463 |  |  |  |  |
Other liabilities |  |  | 137 |  |  |  |  |
Total liabilities assumed |  |  | 12,415 |  |  |  |  |
Noncontrolling interest equity |  |  | 49,711 |  |  |  |  |
Total fair value of net assets acquired |  |  |  |  |  |  | 63,836 |
Excess purchase price over fair value of net assets acquired (“goodwill”) |  |  |  |  |  | $ | 10,731 |
Schedule of Proforma Results of Operations | The following table summarizes the unaudited pro forma results of operations attributable to Viad, assuming the Mountain Park Lodges acquisition had been completed on January 1, 2018:
|  | Three Months Ended |  |  | Six Months Ended |
(in thousands, except per share data) |  | June 30, 2019 |  |  | June 30, 2018 |  |  | June 30, 2019 |  |  | June 30, 2018 |
Revenue |  | $ | 406,657 |  |  | $ | 371,099 |  |  | $ | 696,134 |  |  | $ | 652,438 |
Depreciation and amortization |  | $ | 15,839 |  |  | $ | 16,476 |  |  | $ | 30,348 |  |  | $ | 30,926 |
Income (loss) from continuing operations |  | $ | 12,862 |  |  | $ | 24,104 |  |  | $ | (5,898 | ) |  | $ | 11,151 |
Net income (loss) attributable to Viad |  | $ | 13,578 |  |  | $ | 23,718 |  |  | $ | (4,651 | ) |  | $ | 12,785 |
Diluted income (loss) per share |  | $ | 0.66 |  |  | $ | 1.16 |  |  | $ | (0.24 | ) |  | $ | 0.62 |
Basic income (loss) per share |  | $ | 0.66 |  |  | $ | 1.16 |  |  | $ | (0.24 | ) |  | $ | 0.62 |

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- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2) -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(3) -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=84161108&loc=d3e4845-128472 + Details
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