Quarterly report pursuant to Section 13 or 15(d)

National CineMedia (Tables)

v3.19.3
National CineMedia (Tables)
9 Months Ended
Sep. 30, 2019
Aggregate Amount of Transaction Price Allocated To Performance Obligation That Are Unsatisfied And Expected To Be Recognized

The table below summarizes the aggregate amount of the transaction price allocated to performance obligations that are unsatisfied as of September 30, 2019 and when the Company expects to recognize this revenue.

 

 

Twelve Months Ended September 30,

 

 

 

 

 

 

 

 

 

Remaining Performance Obligations

 

2020

 

 

2021

 

 

2022

 

 

2023

 

 

2024

 

 

Thereafter

 

 

Total

 

Deferred revenue

 

 

102,449

 

 

 

9,488

 

 

 

200

 

 

 

46

 

 

 

 

 

 

 

 

 

112,183

 

 

NCM Screen Advertising Advances  
Aggregate Amount of Transaction Price Allocated To Performance Obligation That Are Unsatisfied And Expected To Be Recognized

The recognition of revenue related to the deferred revenue or NCM screen advertising advances will continue to be recorded on a straight-line basis over the new term of the amended ESA or February 2041.

 

 

 

Twelve Months Ended September 30,

 

 

 

 

 

 

 

 

 

Remaining Maturity

 

2020

 

 

2021

 

 

2022

 

 

2023

 

 

2024

 

 

Thereafter

 

 

Total

 

NCM screen advertising advances

 

 

15,912

 

 

 

15,917

 

 

 

15,917

 

 

 

15,917

 

 

 

15,917

 

 

 

197,405

 

 

 

276,985

 

NCM  
Summary of Activity With Equity Investee Included in the Company's Condensed Consolidated Financial Statements

Below is a summary of activity with NCM included in the Company’s condensed consolidated financial statements:

 

 

 

Investment

in NCM

 

NCM Screen Advertising Advances

 

Distributions

from NCM

 

Equity in

Earnings

 

Other

Revenue

 

Interest Expense - NCM (2)

 

Cash Received

 

Balance as of January 1, 2019

 

$

275,592

 

$

(287,349

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Receipt of common units due to annual common unit adjustment ("CUA")

 

 

1,552

 

 

(1,552

)

 

 

 

 

 

 

 

 

 

 

Revenues earned under ESA (1)(2)

 

 

 

 

 

 

 

 

 

 

(22,151

)

 

13,392

 

 

8,759

 

Revenues earned under amendment to ESA(2)(3)

 

 

 

 

 

 

 

 

 

 

(1,482

)

 

788

 

 

694

 

Receipt of excess cash distributions

 

 

(16,126

)

 

 

 

(8,009

)

 

 

 

 

 

 

 

24,135

 

Receipt of cash under tax receivable agreement

 

 

(2,324

)

 

 

 

(1,159

)

 

 

 

 

 

 

 

3,483

 

Equity in earnings

 

 

14,062

 

 

 

 

 

 

(14,062

)

 

 

 

 

 

 

Amortization of deferred revenue

 

 

 

 

11,916

 

 

 

 

 

 

(11,916

)

 

 

 

 

Balance as of and for the nine months ended September 30, 2019

 

$

272,756

 

$

(276,985

)

$

(9,168

)

$

(14,062

)

$

(35,549

)

$

14,180

 

$

37,071

 

 

(1)

Amount includes the per patron and per digital screen theatre access fees due to the Company prior to the first amendment to the Amended and Restated ESA, net of amounts paid to NCM for on-screen advertising time provided to the Company’s beverage concessionaire of approximately $8,808.

(2)  

Reflects impact of significant financing component related to amounts received in advance under the ESA and CUA agreements.  See also Notes 3 and 4.  

(3)

Reflects screen rental revenues earned after the amendment to the ESA.

Summary Financial Information

NCM Financial Information

Below is summary financial information for NCM for the periods indicated (financial information as of and for the three months ended September 27, 2019 is not yet available).

 

 

Three Months Ended

 

 

Six Months ended

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

June 27, 2019

 

 

June 27, 2019

 

 

September 27, 2018

 

 

September 27, 2018

 

Gross revenues

 

$

110,200

 

 

$

187,100

 

 

$

110,100

 

 

$

304,000

 

Operating income

 

$

37,700

 

 

$

48,600

 

 

$

42,300

 

 

$

93,500

 

Net income

 

$

23,500

 

 

$

20,600

 

 

$

28,500

 

 

$

50,500

 

 

 

 

As of

 

 

As of

 

 

 

June 27, 2019

 

 

December 27, 2018

 

Current assets

 

$

141,100

 

 

$

172,700

 

Noncurrent assets

 

$

732,900

 

 

$

726,800

 

Current liabilities

 

$

88,400

 

 

$

115,200

 

Noncurrent liabilities

 

$

939,300

 

 

$

924,900

 

Members deficit

 

$

(153,700

)

 

$

(140,600

)