Annual report pursuant to Section 13 and 15(d)

IMPAIRMENT OF LONG-LIVED ASSETS

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IMPAIRMENT OF LONG-LIVED ASSETS
12 Months Ended
Dec. 31, 2019
Impairment Or Disposal Of Tangible Assets Disclosure [Abstract]  
IMPAIRMENT OF LONG-LIVED ASSETS

10.

IMPAIRMENT OF LONG-LIVED ASSETS

The Company reviews long-lived assets for impairment indicators on a quarterly basis or whenever events or changes in circumstances indicate the carrying amount of the assets may not be fully recoverable.  See Note 1 for discussion of the Company’s impairment policy.

The Company’s long-lived asset impairment losses are summarized in the following table:

 

 

 

Year Ended

 

 

 

December 31,

 

 

 

2017

 

 

2018

 

 

2019

 

U.S. theatre properties

 

$

5,227

 

 

$

18,597

 

 

$

36,005

 

U.S. theatre operating lease right-of-use assets

 

 

 

 

 

 

 

 

10,457

 

International theatre properties

 

 

9,857

 

 

 

13,775

 

 

 

8,821

 

International theatre operating lease right-of-use assets

 

 

 

 

 

 

 

 

1,718

 

Impairment of long-lived assets

 

$

15,084

 

 

$

32,372

 

 

$

57,001

 

 

The long-lived asset impairment charges recorded during each of the periods presented were for certain new concept theatres being developed and tested by the Company and other theatres that were individually impacted by increased competition, adverse changes in market demographics, or adverse changes in the development or the conditions of the areas surrounding the theatre. As of December 31, 2019, the estimated aggregate remaining fair value of the long-lived assets impaired during the year ended December 31, 2019 was approximately $62,649.