Loss Per Share

3 Months Ended

Mar. 31, 2021

Note 14. Loss Per Share

The components of basic and diluted loss per share are as follows:

	Three Months Ended
	March 31,
(in thousands, except per share data)	2021			2020
Net loss attributable to Viad (diluted)	$	(43,152	)	$	(86,585	)
Convertible preferred stock dividends		(1,898	)		—
Adjustment to the redemption value of redeemable noncontrolling interest		(56	)		(126	)
Net loss allocated to Viad common stockholders (basic)	$	(45,106	)	$	(86,711	)
Basic weighted-average outstanding common shares		20,370			20,215
Diluted weighted-average outstanding shares		20,370			20,215
Loss per share:
Basic loss attributable to Viad common stockholders	$	(2.21	)	$	(4.29	)
Diluted loss attributable to Viad common stockholders⁽¹⁾	$	(2.21	)	$	(4.29	)

⁽¹⁾	Diluted loss per share amount cannot exceed basic loss per share.

Diluted loss per common share is calculated using the more dilutive of the two-class method or as-converted method. The two-class method uses net loss available to common stockholders and assumes conversion of all potential shares other than the participating securities. The as-converted method uses net loss and assumes conversion of all potential shares including the participating securities. Dilutive potential common shares include outstanding stock options, unvested restricted share units and convertible preferred stock. We apply the two-class method in calculating loss per common share as unvested share-based payment awards that contain nonforfeitable rights to dividends and preferred stock are considered participating securities. Accordingly, such securities are included in the earnings allocation in calculating loss per share. The adjustment to the carrying value of the redeemable noncontrolling interest is reflected in loss per common share.

We excluded the following weighted-average potential common shares from the calculations of diluted net loss per common share during the applicable periods because their inclusion would have been anti-dilutive:

	Three Months Ended
	March 31,
(in thousands)	2021		2020
Convertible preferred stock (as converted to common stock)		6,494		—
Unvested restricted share-based awards		38		84
Stock options		57		16