Quarterly report pursuant to Section 13 or 15(d)

Goodwill and Other Intangible Assets (Tables)

v3.19.3
Goodwill and Other Intangible Assets (Tables)
9 Months Ended
Sep. 30, 2019
Goodwill And Intangible Assets Disclosure [Abstract]  
Summary of Goodwill

The Company’s goodwill was as follows:

 

 

 

U.S.

Operating

Segment

 

 

International

Operating

Segment

 

 

Total

 

Balance at January 1, 2019 (1)

 

$

1,174,041

 

 

$

102,283

 

 

$

1,276,324

 

Theatres acquired in the US and Brazil (2)

 

 

8,812

 

 

 

869

 

 

 

9,681

 

Foreign currency translation adjustments

 

 

 

 

 

(4,651

)

 

 

(4,651

)

Balance at September 30, 2019 (1)

 

$

1,182,853

 

 

$

98,501

 

 

$

1,281,354

 

 

 

(1)

Balances are presented net of accumulated impairment losses of $214,031 for the U.S. operating segment and $27,622 for the international operating segment.

 

(2)

Amount represents final purchase price allocation for two theatres acquired in the U.S. during 2019 and the final purchase price allocation adjustment for theatres acquired in Brazil during 2018.

Intangible Assets

Intangible assets consisted of the following:

 

 

 

Balance at January 1, 2019

 

Impact of Adoption of ASC Topic 842 (1)

 

Amortization

 

Other (2)

 

Balance at September 30, 2019

 

Intangible assets with finite lives:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross carrying amount

 

$

105,256

 

$

(18,024

)

$

 

$

(2,501

)

$

84,731

 

Accumulated amortization

 

 

(74,603

)

 

13,597

 

 

(3,730

)

 

2,130

 

 

(62,606

)

Total net intangible assets with finite lives

 

$

30,653

 

$

(4,427

)

$

(3,730

)

$

(371

)

$

22,125

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Intangible assets with indefinite lives:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Tradename and other

 

 

300,257

 

 

 

 

289

 

 

300,546

 

Total intangible assets — net

 

$

330,910

 

$

(4,427

)

$

(3,730

)

$

(82

)

$

322,671

 

 

 

(1)

See Note 3 for further discussion of the impact of adoption of ASC Topic 842.

 

(2)

Amount represents the write-off of fully amortized intangible assets related to non-compete agreements, the acquisition of tradeable liquor licenses, fair values allocated to intangible assets acquired as part of acquisitions of two theatres in the U.S. and foreign currency translation adjustments.

Estimated Aggregate Future Amortization Expense for Intangible Assets

Estimated aggregate future amortization expense for intangible assets is as follows:

 

For the three months ended December 31, 2019

 

$

1,254

 

For the twelve months ended December 31, 2020

 

 

4,986

 

For the twelve months ended December 31, 2021

 

 

3,150

 

For the twelve months ended December 31, 2022

 

 

3,116

 

For the twelve months ended December 31, 2023

 

 

3,083

 

Thereafter

 

 

6,536

 

Total

 

$

22,125