Quarterly report pursuant to Section 13 or 15(d)

Impairment of Long-Lived Assets (Tables)

v3.20.2
Impairment of Long-Lived Assets (Tables)
9 Months Ended
Sep. 30, 2020
Impairment Or Disposal Of Tangible Assets Disclosure [Abstract]  
Summary of Long Lived Asset Impairment Evaluations Performed by Assets Classification The following table is a summary of the evaluations performed by asset classification.

 

 

Impairment

 

Asset

 

Valuation

 

Valuation

 

Test

 

Category

 

Approach

 

Multiple

 

 

 

 

 

 

 

 

First Quarter

Quantitative

 

Goodwill

 

Market (1)

 

8 times

 

 

 

Tradename Intangible Assets

 

Income

 

N/A

 

 

 

Other Long-lived Assets

 

Market

 

6 times

 

 

 

 

 

 

 

 

Second Quarter

Qualitative

 

Goodwill

 

N/A

 

N/A

 

 

 

Tradename Intangible Assets

 

N/A

 

N/A

 

 

 

Other Long-lived Assets

 

N/A

 

N/A

 

 

 

 

 

 

 

 

Third Quarter

Quantitative

 

Goodwill

 

Market (1)

 

2.9 to 7 times

 

 

 

Tradename Intangible Assets

 

Income

 

N/A

 

 

 

Other Long-lived Assets

 

Market

 

3.2 to 6 times

 

(1)

The Company also used the income approach to test goodwill for impairment for the respective period.  

Summary of Impairment Charges

The following table is a summary of the impairment recorded as a result of the evaluations discussed above during the three and nine months ended September 30, 2020:

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

September 30,

 

 

September 30,

 

 

 

2020

 

 

2019

 

 

2020

 

 

2019

 

U.S. Segment

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Theatre properties

 

$

2,075

 

 

$

24,502

 

 

$

5,718

 

 

$

26,754

 

Theatre operating lease right-of-use assets

 

 

1,123

 

 

 

2,157

 

 

 

7,075

 

 

 

10,204

 

Cost method investment

 

 

2,500

 

 

 

 

 

 

2,500

 

 

 

 

U.S. total

 

 

5,698

 

 

 

26,659

 

 

 

15,293

 

 

 

36,958

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

International segment

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Theatre properties

 

 

938

 

 

 

645

 

 

 

5,422

 

 

 

6,796

 

Theatre operating lease right-of-use assets

 

 

1,654

 

 

 

 

 

 

4,194

 

 

 

1,628

 

Goodwill

 

 

16,128

 

 

 

 

 

 

16,128

 

 

 

 

Intangible assets

 

 

177

 

 

 

 

 

 

177

 

 

 

 

International total

 

 

18,897

 

 

 

645

 

 

 

25,921

 

 

 

8,424

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Impairment

 

$

24,595

 

 

$

27,304

 

 

$

41,214

 

 

$

45,382