Quarterly report pursuant to Section 13 or 15(d)

Investment in National CineMedia LLC (Tables)

v3.21.2
Investment in National CineMedia LLC (Tables)
6 Months Ended
Jun. 30, 2021
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

 

 

N C M Screen Advertising Advances  
Aggregate Amount of Transaction Price Allocated To Performance Obligation That Are Unsatisfied And Expected To Be Recognized

The recognition of revenue related to the NCM screen advertising advances are recorded through February 2041.

 

 

 

Twelve Months Ended June 30,

 

 

 

 

 

 

 

 

 

Remaining Maturity

 

2022

 

 

2023

 

 

2024

 

 

2025

 

 

2026

 

 

Thereafter

 

 

Total

 

NCM screen advertising advances (1)

 

$

8,819

 

 

$

9,428

 

 

$

10,081

 

 

$

10,780

 

 

$

11,528

 

 

$

299,726

 

 

$

350,362

 

 

(1)

Amounts are net of the estimated interest to be accrued for the periods presented.  See discussion of significant financing component below.  

 

NCM  
Summary of Activity With Equity Investee Included in the Company's Condensed Consolidated Financial Statements

Below is a summary of activity with NCM included in the Company’s condensed consolidated financial statements:

 

 

 

Investment

in NCM

 

NCM Screen Advertising Advances

 

Distributions

from NCM

 

Equity in

Loss

 

Other

Revenue

 

Interest

Expense - NCM

 

Cash Received

 

Balance as of January 1, 2021

 

$

151,962

 

$

(344,255

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Receipt of common units due to annual common unit adjustment ("CUA")

 

 

10,237

 

 

(10,237

)

 

 

 

 

 

 

 

 

 

 

Screen rental revenues earned under ESA (1)

 

 

 

 

 

 

 

 

 

 

(3,790

)

 

 

 

3,790

 

Interest accrued related to significant financing component

 

 

 

 

(11,797

)

 

 

 

 

 

 

 

11,797

 

 

 

Receipt under tax receivable agreement

 

 

(156

)

 

 

 

(77

)

 

 

 

 

 

 

 

233

 

Equity in loss

 

 

(14,414

)

 

 

 

 

 

14,414

 

 

 

 

 

 

 

Amortization of screen advertising advances

 

 

 

 

15,927

 

 

 

 

 

 

(15,927

)

 

 

 

 

Balance as of and for the six months ended June 30, 2021

 

$

147,629

 

$

(350,362

)

$

(77

)

$

14,414

 

$

(19,717

)

$

11,797

 

$

4,023

 

(1)

Amounts include the per patron and per digital screen theatre access fees due to the Company, net of amounts due to NCM for on-screen advertising time provided to the Company’s beverage concessionaire of approximately $1,399.

Summary Financial Information

NCM Financial Information

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

 

 

Three Months Ended

 

 

Three Months ended

 

 

Six Months Ended

 

 

Six Months Ended

 

 

 

July 1, 2021

 

 

June 25, 2020

 

 

July 1, 2021

 

 

June 25, 2020

 

Gross revenues

 

$

13,958

 

 

$

4,000

 

 

$

19,403

 

 

$

68,700

 

Operating income (loss)

 

$

(29,699

)

 

$

(23,800

)

 

$

(57,938

)

 

$

(18,900

)

Net loss

 

$

(46,867

)

 

$

(37,800

)

 

$

(90,364

)

 

$

(46,400

)

 

 

 

 

As of

 

 

As of

 

 

 

July 1, 2021

 

 

December 31, 2020

 

Current assets

 

$

114,665

 

 

$

142,566

 

Noncurrent assets

 

$

674,769

 

 

$

685,643

 

Current liabilities

 

$

40,546

 

 

$

46,872

 

Noncurrent liabilities

 

$

1,115,424

 

 

$

1,072,207

 

Members deficit

 

$

(366,536

)

 

$

(290,870

)