Loss Per Share

3 Months Ended

Mar. 31, 2022

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)	2022			2021
Net loss attributable to Viad	$	(29,001	)	$	(43,152	)
Convertible preferred stock dividends paid in cash		(1,950	)		—
Convertible preferred stock dividends paid in kind		—			(1,898	)
Adjustment to the redemption value of redeemable noncontrolling interest		(351	)		(56	)
Net loss allocated to Viad common stockholders (basic)	$	(31,302	)	$	(45,106	)
Add: Allocation to participating securities		—			—
Net loss allocated to Viad common stockholders (diluted)	$	(31,302	)	$	(45,106	)

Basic weighted-average outstanding common shares		20,518			20,370
Additional dilutive shares related to share-based compensation		—			—
Diluted weighted-average outstanding shares		20,518			20,370
Loss per share:
Basic loss attributable to Viad common stockholders	$	(1.53	)	$	(2.21	)
Diluted loss attributable to Viad common stockholders(1)	$	(1.53	)	$	(2.21	)

(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 income (loss) available to common stockholders and assumes conversion of all potential shares other than the participating securities. The as-converted method uses net income (loss) available to common stockholders 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 income (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 income (loss) per share. The adjustment to the carrying value of the redeemable noncontrolling interest is reflected in income (loss) per common share.

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


	Three Months Ended
	March 31,
(in thousands)	2022		2021
Convertible preferred stock		6,674		6,494
Unvested restricted share-based awards		207		38
Unvested performance share-based awards		37		—
Stock options		166		57