Annual report pursuant to Section 13 and 15(d)

REVENUE RECOGNITION (Tables)

v3.19.3.a.u2
REVENUE RECOGNITION (Tables)
12 Months Ended
Dec. 31, 2019
Revenue From Contract With Customer [Abstract]  
Summary of Revenues Disaggregated Based on Type of Good Or Service By Reportable Operating Segment and On Timing of Revenue Recognition

The following table presents revenues for the periods indicated, disaggregated based on major type of good or service and by reportable operating segment.

 

 

Twelve Months Ended

 

 

Twelve Months Ended

 

 

 

December 31, 2018

 

 

December 31, 2019

 

 

 

U.S.

 

 

International

 

 

 

 

 

 

U.S.

 

 

International

 

 

 

 

 

 

 

Operating

 

 

Operating

 

 

 

 

 

 

Operating

 

 

Operating

 

 

 

 

 

Major Goods/Services

 

Segment (1)

 

 

Segment

 

 

Consolidated

 

 

Segment (1)

 

 

Segment

 

 

Consolidated

 

Admissions revenues

 

$

1,461,151

 

 

$

373,022

 

 

$

1,834,173

 

 

$

1,431,790

 

 

$

373,531

 

 

$

1,805,321

 

Concession revenues

 

 

892,391

 

 

 

216,402

 

 

 

1,108,793

 

 

 

936,241

 

 

 

224,842

 

 

 

1,161,083

 

Screen advertising, screen rental and promotional revenues

 

 

78,591

 

 

 

61,269

 

 

 

139,860

 

 

 

128,839

 

 

 

35,888

 

 

 

164,727

 

Other revenues

 

 

106,824

 

 

 

32,085

 

 

 

138,909

 

 

 

84,033

 

 

 

67,935

 

 

 

151,968

 

Total revenues

 

$

2,538,957

 

 

$

682,778

 

 

$

3,221,735

 

 

$

2,580,903

 

 

$

702,196

 

 

$

3,283,099

 

 

(1)

U.S. segment revenues include eliminations of intercompany transactions with the international operating segment.  See Note 20 for additional information on intercompany eliminations.

The following table presents revenues for the periods indicated, disaggregated based on timing of revenue recognition (as discussed above).

 

 

Twelve Months Ended

 

 

Twelve Months Ended

 

 

 

December 31, 2018

 

 

December 31, 2019

 

 

 

U.S.

 

 

International

 

 

 

 

 

 

U.S.

 

 

International

 

 

 

 

 

 

 

Operating

 

 

Operating

 

 

 

 

 

 

Operating

 

 

Operating

 

 

 

 

 

 

 

Segment (1)

 

 

Segment

 

 

Consolidated

 

 

Segment (1)

 

 

Segment

 

 

Consolidated

 

Goods and services transferred at a

   point in time

 

$

2,453,313

 

 

$

608,347

 

 

$

3,061,660

 

 

$

2,488,716

 

 

$

621,785

 

 

$

3,110,501

 

Goods and services transferred over

   time

 

 

85,644

 

 

 

74,431

 

 

 

160,075

 

 

 

92,187

 

 

 

80,411

 

 

 

172,598

 

Total

 

$

2,538,957

 

 

$

682,778

 

 

$

3,221,735

 

 

$

2,580,903

 

 

$

702,196

 

 

$

3,283,099

 

 

(1)

U.S. segment revenues include eliminations of intercompany transactions with the international operating segment.  See Note 20 for additional information on intercompany eliminations.

Changes in Deferred Revenues

The following table presents changes in the Company’s deferred revenues for the year ended December 31, 2019.  

Deferred Revenues

 

NCM Screen Advertising Advances (1)

 

 

Other

Deferred

Revenues (2)

 

 

Total

 

Balance at January 1, 2019

 

$

350,242

 

 

$

106,075

 

 

$

456,317

 

Amounts recognized as accounts receivable

 

 

 

 

 

12,767

 

 

 

12,767

 

Cash received from customers in advance

 

 

 

 

 

227,125

 

 

 

227,125

 

Common units received from NCM (see Note 7)

 

 

1,552

 

 

 

 

 

 

1,552

 

Interest accrued related to significant financing component

 

 

28,624

 

 

 

 

 

 

28,624

 

Revenue recognized during period

 

 

(32,064

)

 

 

(206,367

)

 

 

(238,431

)

Foreign currency translation adjustments

 

 

 

 

 

(1,174

)

 

 

(1,174

)

Balance at December 31, 2019

 

$

348,354

 

 

$

138,426

 

 

$

486,780

 

 

(1)

See Significant Financing Component discussion below.  See Note 7 for the maturity of balances as of December 31, 2019.  

 

(2)

Includes liabilities associated with outstanding gift cards and SuperSavers, points or rebates outstanding under the Company’s loyalty and membership programs and revenues not yet recognized for screen advertising and other promotional activities. Classified as accounts payable and accrued expenses or other long-term liabilities on the consolidated balance sheet.

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 December 31, 2019 and when the Company expects to recognize this revenue.

 

 

Twelve Months Ended December 31,

 

 

 

 

 

 

 

 

 

Remaining Performance Obligations

 

2020

 

 

2021

 

 

2022

 

 

2023

 

 

2024

 

 

Thereafter

 

 

Total

 

Deferred revenue - other

 

$

125,334

 

 

 

12,897

 

 

 

195

 

 

 

 

 

 

 

 

 

 

 

$

138,426