Quarterly report pursuant to Section 13 or 15(d)

Revenue Recognition (Tables)

v3.20.1
Revenue Recognition (Tables)
3 Months Ended
Mar. 31, 2020
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 three months ended March 31, 2020 and 2019, disaggregated based on major type of good or service and by reportable operating segment.

 

 

Three Months Ended

 

 

 

March 31, 2020

 

 

 

U.S.

 

 

International

 

 

 

 

 

 

 

Operating

 

 

Operating

 

 

 

 

 

Major Goods/Services

 

Segment (1)

 

 

Segment

 

 

Consolidated

 

Admissions revenues

 

$

232,326

 

 

$

60,136

 

 

$

292,462

 

Concession revenues

 

 

152,758

 

 

 

37,598

 

 

 

190,356

 

Screen advertising, screen rental and promotional revenues

 

 

18,209

 

 

 

12,446

 

 

 

30,655

 

Other revenues

 

 

24,150

 

 

 

5,993

 

 

 

30,143

 

Total revenues

 

$

427,443

 

 

$

116,173

 

 

$

543,616

 

 


 

 

 

Three Months Ended

 

 

 

March 31, 2019

 

 

 

U.S.

 

 

International

 

 

 

 

 

 

 

Operating

 

 

Operating

 

 

 

 

 

Major Goods/Services

 

Segment (1)

 

 

Segment

 

 

Consolidated

 

Admissions revenues

 

$

308,839

 

 

$

86,701

 

 

$

395,540

 

Concession revenues

 

 

199,386

 

 

 

51,938

 

 

 

251,324

 

Screen advertising, screen rental and promotional revenues

 

 

20,580

 

 

 

14,038

 

 

 

34,618

 

Other revenues

 

 

26,011

 

 

 

7,230

 

 

 

33,241

 

Total revenues

 

$

554,816

 

 

$

159,907

 

 

$

714,723

 

 

(1)

U.S. segment revenues include eliminations of intercompany transactions with the international operating segment.  See Note 17 for additional information on intercompany eliminations.

The following table presents revenues for the three months ended March 31, 2020 and 2019, disaggregated based on timing of revenue recognition.

 

 

 

Three Months Ended

 

 

 

 

March 31, 2020

 

 

 

 

U.S.

 

 

International

 

 

 

 

 

 

 

 

Operating

 

 

Operating

 

 

 

 

 

 

 

 

Segment (1)

 

 

Segment

 

 

Consolidated

 

Goods and services transferred at a point in time

 

 

$

401,442

 

 

$

101,252

 

 

$

502,694

 

Goods and services transferred over time

 

 

 

26,001

 

 

 

14,921

 

 

 

40,922

 

Total

 

 

$

427,443

 

 

$

116,173

 

 

$

543,616

 

 

 

 

 

Three Months Ended

 

 

 

 

March 31, 2019

 

 

 

 

U.S.

 

 

International

 

 

 

 

 

 

 

 

Operating

 

 

Operating

 

 

 

 

 

 

 

 

Segment (1)

 

 

Segment

 

 

Consolidated

 

Goods and services transferred at a point in time

 

 

$

532,183

 

 

$

143,109

 

 

$

675,292

 

Goods and services transferred over time

 

 

 

22,633

 

 

 

16,798

 

 

 

39,431

 

Total

 

 

$

554,816

 

 

$

159,907

 

 

$

714,723

 

 

(1)

U.S. segment revenues include eliminations of intercompany transactions with the international operating segment.  See Note 17 for additional information on intercompany eliminations.

Changes in Advances and Deferred Revenues

The following table presents changes in the Company’s advances and deferred revenues for the three months ended March 31, 2020.  

 

 

NCM screen advertising advances (1)

 

 

Other

Deferred

Revenues (2)

 

 

Total

 

Balance at January 1, 2020

 

$

348,354

 

 

$

138,426

 

 

$

486,780

 

Amounts recognized as accounts receivable

 

 

 

 

 

1,354

 

 

 

1,354

 

Cash received from customers in advance

 

 

 

 

 

44,870

 

 

 

44,870

 

Common units received from NCM (see Note 9)

 

 

3,620

 

 

 

 

 

 

3,620

 

Interest accrued related to significant financing component

 

 

5,891

 

 

 

 

 

 

5,891

 

Revenue recognized during period

 

 

(7,761

)

 

 

(43,943

)

 

 

(51,704

)

Foreign currency translation adjustments

 

 

 

 

 

(1,595

)

 

 

(1,595

)

Balance at March 31, 2020

 

$

350,104

 

 

$

139,112

 

 

$

489,216

 

 

(1)

See Note 9 for the maturity of balance as of March 31, 2020.

 

(2)

Includes liabilities associated with outstanding gift cards and discount ticket vouchers, points or rebates outstanding under the Company’s loyalty and membership programs and revenues not yet recognized for screen advertising, screen rental and other promotional activities. Classified as accounts payable and accrued expenses or other long-term liabilities on the condensed 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 March 31, 2020 and when the Company expects to recognize this revenue.

 

 

Twelve Months Ended March 31,

 

 

 

 

 

 

 

 

 

Remaining Performance Obligations

 

2021

 

 

2022

 

 

2023

 

 

2024

 

 

2025

 

 

Thereafter

 

 

Total

 

Other Deferred revenue

 

 

124,099

 

 

 

14,868

 

 

 

145

 

 

 

 

 

 

 

 

 

 

$

 

139,112