Annual report pursuant to Section 13 and 15(d)

IMPAIRMENT OF LONG-LIVED AND OTHER ASSETS (Tables)

v3.20.4
IMPAIRMENT OF LONG-LIVED AND OTHER ASSETS (Tables)
12 Months Ended
Dec. 31, 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 for each quarter 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

 

 

 

 

 

 

 

 

Fourth Quarter

Quantitative

 

Goodwill

 

Market (1)

 

3.1 to 7 times

 

 

 

Tradename Intangible Assets

 

Income

 

N/A

 

 

 

Other Long-lived Assets

 

Market

 

3.1 to 6 times

 

(1)

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

Long-Lived Asset Impairment Losses

The Company’s theatre asset, goodwill, intangible asset and investment impairment charges were as follows for the periods presented:

 

 

 

Year Ended

 

 

 

December 31,

 

 

 

2018

 

 

2019

 

 

2020

 

U.S. Segment

 

 

 

 

 

 

 

 

 

 

 

 

Theatre properties

 

$

18,597

 

 

$

36,005

 

 

$

12,398

 

Theatre operating lease right-of-use assets

 

 

 

 

 

10,457

 

 

 

13,216

 

Investment in NCM (1)

 

 

 

 

 

 

 

 

92,655

 

Cost method investment

 

 

 

 

 

 

 

 

2,500

 

U.S. total

 

 

18,597

 

 

 

46,462

 

 

 

120,769

 

 

 

 

 

 

 

 

 

 

 

 

 

 

International segment

 

 

 

 

 

 

 

 

 

 

 

 

Theatre properties

 

 

13,775

 

 

 

8,821

 

 

 

9,951

 

Theatre operating lease right-of-use assets

 

 

 

 

 

1,718

 

 

 

5,025

 

Goodwill

 

 

 

 

 

 

 

 

16,128

 

Intangible assets

 

 

 

 

 

 

 

 

833

 

International total

 

 

13,775

 

 

 

10,539

 

 

 

31,937

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total impairment

 

$

32,372

 

 

$

57,001

 

 

$

152,706

 

 

(1)

See Note 8 for discussion on NCM impairment.