Quarterly report pursuant to Section 13 or 15(d)

Revenue Recognition (Tables)

v3.20.2
Revenue Recognition (Tables)
6 Months Ended
Jun. 30, 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 tables present revenues for the three and six months ended June 30, 2020 and 2019, disaggregated based on major type of good or service and by reportable operating segment and disaggregated based on timing of revenue recognition.

 

Three Months Ended

 

 

Six Months Ended

 

 

June 30, 2020

 

 

June 30, 2020

 

 

U.S.

 

International

 

 

 

 

 

U.S.

 

 

International

 

 

 

 

 

 

Operating

 

Operating

 

 

 

 

 

Operating

 

 

Operating

 

 

 

 

 

Major Goods/Services

Segment (1)

 

Segment

 

Consolidated

 

 

Segment (1)

 

 

Segment

 

 

Consolidated

 

Admissions revenues

$

37

 

$

 

$

37

 

 

$

232,363

 

 

$

60,136

 

 

$

292,499

 

Concession revenues

 

55

 

 

69

 

 

124

 

 

 

152,813

 

 

 

37,667

 

 

 

190,480

 

Screen advertising, screen rental and promotional revenues(2)

 

7,883

 

 

478

 

 

8,361

 

 

 

26,092

 

 

 

12,924

 

 

 

39,016

 

Other revenues

 

180

 

 

272

 

 

452

 

 

 

24,330

 

 

 

6,265

 

 

 

30,595

 

Total revenues

$

8,155

 

$

819

 

$

8,974

 

 

$

435,598

 

 

$

116,992

 

 

$

552,590

 

 


 

Three Months Ended

 

 

Six Months Ended

 

 

June 30, 2019

 

 

June 30, 2019

 

 

U.S.

 

International

 

 

 

 

 

U.S.

 

 

International

 

 

 

 

 

 

Operating

 

Operating

 

 

 

 

 

Operating

 

 

Operating

 

 

 

 

 

Major Goods/Services

Segment (1)

 

Segment

 

Consolidated

 

 

Segment (1)

 

 

Segment

 

 

Consolidated

 

Admissions revenues

$

406,923

 

$

114,149

 

$

521,072

 

 

$

715,762

 

 

$

200,850

 

 

$

916,612

 

Concession revenues

 

274,926

 

 

70,356

 

 

345,282

 

 

 

474,312

 

 

 

122,294

 

 

 

596,606

 

Screen advertising, screen rental and promotional revenues

 

22,302

 

 

19,101

 

 

41,403

 

 

 

42,882

 

 

 

33,139

 

 

 

76,021

 

Other revenues

 

38,775

 

 

11,224

 

 

49,999

 

 

 

64,786

 

 

 

18,454

 

 

 

83,240

 

Total revenues

$

742,926

 

$

214,830

 

$

957,756

 

 

$

1,297,742

 

 

$

374,737

 

 

$

1,672,479

 

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 30, 2020

 

 

June 30, 2020

 

 

 

U.S.

 

International

 

 

 

 

 

U.S.

 

 

International

 

 

 

 

 

 

 

Operating

 

Operating

 

 

 

 

 

Operating

 

 

Operating

 

 

 

 

 

Timing of Recognition

 

Segment (1)

 

Segment

 

Consolidated

 

 

Segment (1)

 

 

Segment

 

 

Consolidated

 

Goods and services transferred at a point in time

 

$

89

 

$

77

 

$

166

 

 

$

401,531

 

 

$

101,329

 

 

$

502,860

 

Goods and services transferred over time(2)

 

 

8,066

 

 

742

 

 

8,808

 

 

 

34,067

 

 

 

15,663

 

 

 

49,730

 

Total

 

$

8,155

 

$

819

 

$

8,974

 

 

$

435,598

 

 

$

116,992

 

 

$

552,590

 

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 30, 2019

 

 

June 30, 2019

 

 

 

U.S.

 

International

 

 

 

 

 

U.S.

 

 

International

 

 

 

 

 

 

 

Operating

 

Operating

 

 

 

 

 

Operating

 

 

Operating

 

 

 

 

 

Timing of Recognition

 

Segment (1)

 

Segment

 

Consolidated

 

 

Segment (1)

 

 

Segment

 

 

Consolidated

 

Goods and services transferred at a point in time

 

$

718,582

 

$

192,422

 

$

911,004

 

 

$

1,250,765

 

 

$

335,531

 

 

$

1,586,296

 

Goods and services transferred over time

 

 

24,344

 

 

22,408

 

 

46,752

 

 

 

46,977

 

 

 

39,206

 

 

 

86,183

 

Total

 

$

742,926

 

$

214,830

 

$

957,756

 

 

$

1,297,742

 

 

$

374,737

 

 

$

1,672,479

 

 

(1)

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

 

(2)

Amount includes amortization of NCM screen advertising advances.  See Deferred Revenues below.  

Changes in Advances and Deferred Revenues

The following table presents changes in the Company’s advances and deferred revenues for the six months ended June 30, 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

 

 

 

 

 

3,147

 

 

 

3,147

 

Cash received from customers in advance

 

 

 

 

 

44,557

 

 

 

44,557

 

Common units received from NCM (see Note 9)

 

 

3,620

 

 

 

 

 

 

3,620

 

Interest accrued related to significant financing component

 

 

11,825

 

 

 

 

 

 

11,825

 

Revenue recognized during period

 

 

(15,612

)

 

 

(43,617

)

 

 

(59,229

)

Foreign currency translation adjustments

 

 

 

 

 

(1,747

)

 

 

(1,747

)

Balance at June 30, 2020

 

$

348,187

 

 

$

140,766

 

 

$

488,953

 

 

(1)

See Note 9 for the maturity of balance as of June 30, 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 June 30, 2020 and when the Company expects to recognize this revenue.

 

 

Twelve Months Ended June 30,

 

 

 

 

 

 

 

 

 

Remaining Performance Obligations

 

2021

 

 

2022

 

 

2023

 

 

2024

 

 

2025

 

 

Thereafter

 

 

Total

 

Other Deferred revenue

 

$

125,777

 

 

$

14,893

 

 

$

96

 

 

$

 

 

$

 

 

$

 

 

$

140,766