Quarterly report pursuant to Section 13 or 15(d)

Revenue Recognition (Tables)

v3.21.2
Revenue Recognition (Tables)
6 Months Ended
Jun. 30, 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 and six months ended June 30, 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

 

 

Six Months Ended

 

 

June 30, 2021

 

 

June 30, 2021

 

 

U.S.

 

International

 

 

 

 

 

U.S.

 

International

 

 

 

 

 

Operating

 

Operating

 

 

 

 

 

Operating

 

Operating

 

 

 

 

Major Goods/Services

Segment (1)

 

Segment

 

Consolidated

 

 

Segment (1)

 

Segment

 

Consolidated

 

Admissions revenues

$

140,567

 

$

12,912

 

$

153,479

 

 

$

189,054

 

$

20,546

 

$

209,600

 

Concession revenues

 

99,357

 

 

10,457

 

 

109,814

 

 

 

132,398

 

 

16,904

 

 

149,302

 

Screen advertising, screen rental and promotional revenues (2)

 

15,322

 

 

582

 

 

15,904

 

 

 

26,489

 

 

2,783

 

 

29,272

 

Other revenues

 

14,015

 

 

1,440

 

 

15,455

 

 

 

18,409

 

 

2,430

 

 

20,839

 

Total revenues

$

269,261

 

$

25,391

 

$

294,652

 

 

$

366,350

 

$

42,663

 

$

409,013

 

 

 

 

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, 2021

 

 

June 30, 2021

 

 

 

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

 

$

249,427

 

$

23,901

 

$

273,328

 

 

$

329,961

 

$

38,213

 

$

368,174

 

Goods and services transferred over time (2)

 

 

19,834

 

 

1,490

 

 

21,324

 

 

 

36,389

 

 

4,450

 

 

40,839

 

Total

 

$

269,261

 

$

25,391

 

$

294,652

 

 

$

366,350

 

$

42,663

 

$

409,013

 

 

 

 

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

 

 

(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 six months ended June 30, 2021.  

 

 

NCM screen advertising advances (1)

 

 

Other

Deferred

Revenues (2)

 

Balance at January 1, 2021

 

$

344,255

 

 

$

138,830

 

Amounts recognized as accounts receivable

 

 

 

 

 

2,993

 

Cash received from customers in advance

 

 

 

 

 

21,964

 

Common units received from NCM (see Note 9)

 

 

10,237

 

 

 

 

Interest accrued related to significant financing component

 

 

11,797

 

 

 

 

Revenue recognized during period

 

 

(15,927

)

 

 

(29,661

)

Foreign currency translation adjustments

 

 

 

 

 

(56

)

Balance at June 30, 2021

 

$

350,362

 

 

$

134,070

 

 

(1)

See Note 9 for the maturity of balance as of June 30, 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 June 30, 2021 and when the Company expects to recognize this revenue.

 

 

Twelve Months Ended June 30,

 

 

 

 

 

 

 

 

 

Remaining Performance Obligations

 

2022

 

 

2023

 

 

2024

 

 

2025

 

 

2026

 

 

Thereafter

 

 

Total

 

Other deferred revenues

 

$

120,589

 

 

$

13,481

 

 

$

 

 

$

 

 

$

 

 

$

 

 

$

134,070