Loss Per Share

3 Months Ended

Mar. 31, 2024

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)	2024			2023
Net loss attributable to Viad	$	(25,117	)	$	(20,869	)
Less: Allocation to participating securities		—			—
Convertible preferred stock dividends(1)		(1,950	)		(1,950	)
Net loss allocated to Viad common stockholders (basic)	$	(27,067	)	$	(22,819	)
Add: Allocation to participating securities		—			—
Net loss allocated to Viad common stockholders (diluted)	$	(27,067	)	$	(22,819	)

Basic weighted-average outstanding common shares		21,029			20,751
Additional dilutive shares related to share-based compensation		—			—
Diluted weighted-average outstanding shares		21,029			20,751
Loss per share:
Basic loss attributable to Viad common stockholders	$	(1.29	)	$	(1.10	)
Diluted loss attributable to Viad common stockholders (2)	$	(1.29	)	$	(1.10	)

(1) The convertible preferred stock dividend payable as of March 31, 2024, was paid in cash on April 1, 2024.

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

Diluted income (loss) per common share is calculated using the more dilutive of the two-class method or if-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 if-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 convertible 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 loss per common share during the applicable periods because their inclusion would have been anti-dilutive:


	Three Months Ended
	March 31,
(in thousands)	2024		2023
Convertible preferred stock		6,674		6,674
Unvested restricted share-based awards		281		225
Unvested performance share-based awards		179		101
Stock options		164		378