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Selected Quarterly Financial Information (Unaudited) (Tables)
 12 Months Ended
Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract]  
Quarterly financial information

The following table sets forth selected unaudited consolidated quarterly financial information:

 

 

 

2019

 

 

2018

 

(in thousands, except per share data)

 

First

Quarter

 

 

Second

Quarter

 

 

Third

Quarter

 

 

Fourth

Quarter

 

 

First

Quarter

 

 

Second

Quarter

 

 

Third

Quarter

 

 

Fourth

Quarter

 

Revenue:

 

$

285,594

 

 

$

402,279

 

 

$

362,488

 

 

$

321,334

 

 

$

277,428

 

 

$

363,677

 

 

$

358,163

 

 

$

296,916

 

Operating income (loss):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ongoing operations (1)

 

$

(11,236

)

 

$

46,442

 

 

$

54,822

 

 

$

141

 

 

$

(10,989

)

 

$

38,402

 

 

$

56,551

 

 

$

4,018

 

Business interruption gain

 

 

—

 

 

 

141

 

 

 

—

 

 

 

—

 

 

 

190

 

 

 

377

 

 

 

35

 

 

 

—

 

Corporate activities

 

 

(1,833

)

 

 

(3,282

)

 

 

(2,680

)

 

 

(3,070

)

 

 

(2,217

)

 

 

(2,535

)

 

 

(3,777

)

 

 

(2,464

)

Interest income

 

 

98

 

 

 

83

 

 

 

79

 

 

 

109

 

 

 

84

 

 

 

53

 

 

 

101

 

 

 

116

 

Interest expense

 

 

(2,915

)

 

 

(2,957

)

 

 

(3,740

)

 

 

(4,587

)

 

 

(2,069

)

 

 

(2,354

)

 

 

(2,608

)

 

 

(2,609

)

Multi-employer pension plan withdrawal

 

 

—

 

 

 

(15,508

)

 

 

—

 

 

 

(185

)

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Other expense

 

 

(455

)

 

 

(456

)

 

 

(281

)

 

 

(394

)

 

 

(238

)

 

 

(543

)

 

 

(527

)

 

 

(436

)

Restructuring charges

 

 

(688

)

 

 

(4,455

)

 

 

(1,702

)

 

 

(1,535

)

 

 

(162

)

 

 

(662

)

 

 

(175

)

 

 

(588

)

Legal settlement

 

 

(8,500

)

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Impairment recoveries (charges)

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(5,346

)

 

 

—

 

 

 

35

 

 

 

—

 

 

 

—

 

Income from continuing operations before income taxes

 

$

(25,529

)

 

$

20,008

 

 

$

46,498

 

 

$

(14,867

)

 

$

(15,401

)

 

$

32,773

 

 

$

49,600

 

 

$

(1,963

)

Income (loss) from continuing operations attributable to Viad

 

$

(17,490

)

 

$

13,364

 

 

$

31,557

 

 

$

(5,315

)

 

$

(10,315

)

 

$

23,769

 

 

$

37,635

 

 

$

(3,400

)

Net income (loss) attributable to Viad

 

$

(17,777

)

 

$

13,824

 

 

$

31,416

 

 

$

(5,428

)

 

$

(9,387

)

 

$

23,490

 

 

$

37,389

 

 

$

(2,322

)

Diluted income (loss) per common share: (2)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Continuing operations attributable to Viad

 

$

(0.88

)

 

$

0.65

 

 

$

1.54

 

 

$

(0.30

)

 

$

(0.51

)

 

$

1.16

 

 

$

1.84

 

 

$

(0.17

)

Net income (loss) attributable to Viad common stockholders

 

$

(0.89

)

 

$

0.67

 

 

$

1.53

 

 

$

(0.31

)

 

$

(0.47

)

 

$

1.15

 

 

$

1.83

 

 

$

(0.12

)

 

(1)

Represents revenue less costs of services and cost of products sold.

(2)

The sum of quarterly income per share amounts may not equal annual income per share due to rounding.