Annual report pursuant to Section 13 and 15(d)

GOODWILL AND OTHER INTANGIBLE ASSETS - NET (Tables)

v3.19.3.a.u2
GOODWILL AND OTHER INTANGIBLE ASSETS - NET (Tables)
12 Months Ended
Dec. 31, 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 December 31, 2017 (1)

 

$

1,174,041

 

 

$

110,038

 

 

$

1,284,079

 

Acquisition of theatres (2)

 

 

 

 

 

7,204

 

 

 

7,204

 

Foreign currency translation adjustments

 

 

 

 

(14,959

)

 

 

(14,959

)

Balance at December 31, 2018 (1)

 

$

1,174,041

 

 

$

102,283

 

 

$

1,276,324

 

Acquisition of theatres (3)

 

 

8,812

 

 

 

868

 

 

 

9,680

 

Foreign currency translation adjustments

 

 

 

 

 

(2,633

)

 

 

(2,633

)

Balance at December 31, 2019 (1)

 

$

1,182,853

 

 

$

100,518

 

 

$

1,283,371

 

 

(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 preliminary purchase price allocation for theatres acquired in Brazil.

(3)

Amounts represent acquisition of two theatres in the U.S. and final purchase price adjustment for theatres acquired in Brazil during the year ended December 31, 2018.  

Intangible Assets-Net

As of December 31, intangible assets-net, consisted of the following:

 

 

 

Balance at January 1, 2018

 

 

Additions (1)

 

 

Amortization

 

 

Other (2)

 

 

Balance at December 31, 2018

 

Intangible assets with finite lives:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross carrying amount

 

$

105,895

 

 

$

1,203

 

 

$

 

 

$

(1,842

)

 

$

105,256

 

Accumulated amortization

 

 

(68,869

)

 

 

 

 

 

(5,734

)

 

 

-

 

 

 

(74,603

)

Total net intangible assets with finite lives

 

$

37,026

 

 

$

1,203

 

 

$

(5,734

)

 

$

(1,842

)

 

$

30,653

 

Intangible assets with indefinite lives:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Tradename and other

 

 

299,735

 

 

 

853

 

 

 

 

 

 

(331

)

 

 

300,257

 

Total intangible assets — net

 

$

336,761

 

 

$

2,056

 

 

$

(5,734

)

 

$

(2,173

)

 

$

330,910

 

 

 

 

Balance at January 1, 2019

 

 

Additions (3)

 

 

Impact of ASC Topic 842 (4)

 

 

Amortization

 

 

Other (2)

 

 

Balance at December 31, 2019

 

Intangible assets with finite lives:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross carrying amount

 

$

105,256

 

 

$

(143

)

 

$

(4,427

)

 

$

 

 

$

(6

)

 

$

100,680

 

Accumulated amortization

 

 

(74,603

)

 

 

 

 

 

 

 

 

(4,994

)

 

 

 

 

 

(79,597

)

Total net intangible assets with finite lives

 

$

30,653

 

 

$

(143

)

 

$

 

 

$

(4,994

)

 

$

(6

)

 

$

21,083

 

Intangible assets with indefinite lives:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Tradename and other

 

 

300,257

 

 

 

492

 

 

 

 

 

 

 

 

 

(63

)

 

 

300,686

 

Total intangible assets — net

 

$

330,910

 

 

$

349

 

 

$

 

 

$

(4,994

)

 

$

(69

)

 

$

321,769

 

 

(1)

Activity represents preliminary fair values recorded as a result of the acquisition of theatres in Brazil.

(2)

Amount represents the write-off of fully amortized intangible assets related to non-compete agreements, the acquisition of tradeable liquor licenses, and foreign currency translation adjustments.  

(3)

Amount represents intangible assets recorded as a result of two theatres acquired in the U.S. and final purchase price adjustment for theatres acquired in Brazil during the year ended December 31, 2018.

(4)

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

Estimated Aggregate Future Amortization Expense for Intangible Assets

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

 

For the year ended December 31, 2020

 

$

5,036

 

For the year ended December 31, 2021

 

 

3,127

 

For the year ended December 31, 2022

 

 

2,974

 

For the year ended December 31, 2023

 

 

2,876

 

For the year ended December 31, 2024

 

 

2,876

 

Thereafter

 

 

4,194

 

Total

 

$

21,083