Quarterly report pursuant to Section 13 or 15(d)

Revenue Recognition (Tables)

v3.21.1
Revenue Recognition (Tables)
3 Months Ended
Mar. 31, 2021
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 months ended March 31, 2021 and 2020, 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

 

 

March 31, 2021

 

 

U.S.

 

 

International

 

 

 

 

 

 

Operating

 

 

Operating

 

 

 

 

 

Major Goods/Services

Segment (1)

 

 

Segment

 

 

Consolidated

 

Admissions revenues

$

48,487

 

 

$

7,634

 

 

$

56,121

 

Concession revenues

 

33,041

 

 

 

6,447

 

 

 

39,488

 

Screen advertising, screen rental and promotional revenues (2)

 

11,167

 

 

 

2,201

 

 

 

13,368

 

Other revenues

 

4,394

 

 

 

990

 

 

 

5,384

 

Total revenues

$

97,089

 

 

$

17,272

 

 

$

114,361

 

 

 

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, 2021

 

 

 

U.S.

 

 

International

 

 

 

 

 

 

 

Operating

 

 

Operating

 

 

 

 

 

Timing of Recognition

 

Segment (1)

 

 

Segment

 

 

Consolidated

 

Goods and services transferred at a point in time

 

$

80,534

 

 

$

14,312

 

 

$

94,846

 

Goods and services transferred over time (2)

 

 

16,555

 

 

 

2,960

 

 

 

19,515

 

Total

 

$

97,089

 

 

$

17,272

 

 

$

114,361

 

 

 

 

 

Three Months Ended

 

 

 

March 31, 2020

 

 

 

U.S.

 

 

International

 

 

 

 

 

 

 

Operating

 

 

Operating

 

 

 

 

 

Timing of Recognition

 

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

 

 

(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 NCM screen advertising advances and deferred revenues for the three months ended March 31, 2021.  

 

 

NCM screen advertising advances (1)

 

 

Other

Deferred

Revenues (2)

 

 

Total

 

Balance at January 1, 2021

 

$

344,255

 

 

$

138,830

 

 

$

483,085

 

Amounts recognized as accounts receivable

 

 

 

 

 

93

 

 

 

93

 

Cash received from customers in advance

 

 

 

 

 

8,024

 

 

 

8,024

 

Interest accrued related to significant financing component

 

 

5,835

 

 

 

 

 

 

5,835

 

Revenue recognized during period

 

 

(7,850

)

 

 

(13,258

)

 

 

(21,108

)

Foreign currency translation adjustments

 

 

 

 

 

(1,071

)

 

 

(1,071

)

Balance at March 31, 2021

 

$

342,240

 

 

$

132,618

 

 

$

474,858

 

 

(1)

See Note 9 for the maturity of balance as of March 31, 2021.

 

(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, 2021 and when the Company expects to recognize this revenue.

 

 

Twelve Months Ended March 31,

 

 

 

 

 

 

 

 

 

Remaining Performance Obligations

 

2022

 

 

2023

 

 

2024

 

 

2025

 

 

2026

 

 

Thereafter

 

 

Total

 

Other deferred revenues

 

$

118,836

 

 

$

13,782

 

 

$

 

 

$

 

 

$

 

 

$

 

 

$

132,618