Quarterly report pursuant to Section 13 or 15(d)

Other Investments (Tables)

v3.20.2
Other Investments (Tables)
9 Months Ended
Sep. 30, 2020
Summary of Activity for Each of Company's Other Investments

Below is a summary of activity for each of the Company’s other investments for the nine months ended September 30, 2020:

 

 

 

DCIP

 

AC JV,

LLC

 

DCDC

 

FE Concepts

 

Other

 

Total

 

Balance at January 1, 2020

 

$

124,696

 

$

5,022

 

$

3,169

 

$

19,519

 

$

2,879

 

$

155,285

 

Cash distributions received

 

 

(10,383

)

 

 

 

(878

)

 

 

 

 

 

(11,261

)

Equity loss

 

 

(20,083

)

 

(618

)

 

(1,197

)

 

(1,003

)

 

 

 

(22,901

)

Other

 

 

50

 

 

 

 

 

 

 

 

(2,584

)

 

(2,534

)

Balance at September 30, 2020

 

$

94,280

 

$

4,404

 

$

1,094

 

$

18,516

 

$

295

 

$

118,589

 

Digital Cinema Implementation Partners  
Summary Financial Information

Below is summary financial information for DCIP for the periods indicated:

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

September 30, 2020

 

 

September 30, 2019

 

 

September 30, 2020

 

 

September 30, 2019

 

Gross revenues

 

$

1,084

 

 

$

40,200

 

 

$

20,809

 

 

$

125,869

 

Operating income (loss)

 

$

(29,878

)

 

$

22,617

 

 

$

(72,422

)

 

$

73,396

 

Net income (loss)

 

$

(30,554

)

 

$

22,362

 

 

$

(79,660

)

 

$

69,323

 

 

 

 

As of

 

 

 

September 30, 2020

 

 

December 31, 2019

 

Current assets

 

$

28,299

 

 

$

51,382

 

Noncurrent assets

 

$

461,276

 

 

$

581,547

 

Current liabilities

 

$

58,375

 

 

$

70,515

 

Noncurrent liabilities

 

$

710

 

 

$

190

 

Members' equity

 

$

430,490

 

 

$

562,224

 

Transactions with DCIP The Company had the following transactions with DCIP, reflected in utilities and other costs on the condensed consolidated statements of income, during the three and nine months ended September 30, 2020 and 2019:

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

September 30, 2020

 

 

September 30, 2019

 

 

September 30, 2020

 

 

September 30, 2019

 

Equipment lease payments (1)

 

$

346

 

 

$

1,105

 

 

$

1,384

 

 

$

3,357

 

Warranty reimbursements from DCIP

 

$

 

 

$

(2,953

)

 

$

(3,123

)

 

$

(8,842

)

Management service fees

 

$

 

 

$

128

 

 

$

84

 

 

$

438

 

 

(1)

The Company negotiated an abatement of lease payments during the temporary closure of its theatres as a result of the COVID-19 pandemic.  The Company did not remeasure its lease liabilities and lease right-of-use assets as a result of these negotiations in accordance with FASB guidance.  See further discussion at Note 4.