Quarterly report pursuant to Section 13 or 15(d)

Revenue Recognition (Tables)

v3.21.2
Revenue Recognition (Tables)
9 Months Ended
Sep. 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 nine months ended September 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

 

 

Nine Months Ended

 

 

September 30, 2021

 

 

September 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

$

195,307

 

$

30,157

 

$

225,464

 

 

$

384,361

 

$

50,703

 

$

435,064

 

Concession revenues

 

142,634

 

 

21,624

 

 

164,258

 

 

 

275,032

 

 

38,528

 

 

313,560

 

Screen advertising, screen rental and promotional revenues (2)

 

18,054

 

 

4,845

 

 

22,899

 

 

 

44,543

 

 

7,628

 

 

52,171

 

Other revenues

 

19,532

 

 

2,668

 

 

22,200

 

 

 

37,941

 

 

5,098

 

 

43,039

 

Total revenues

$

375,527

 

$

59,294

 

$

434,821

 

 

$

741,877

 

$

101,957

 

$

843,834

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

September 30, 2020

 

 

September 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

$

14,794

 

$

107

 

$

14,901

 

 

$

247,157

 

$

60,243

 

$

307,400

 

Concession revenues

 

8,861

 

 

255

 

 

9,116

 

 

 

161,674

 

 

37,922

 

 

199,596

 

Screen advertising, screen rental and promotional revenues (2)

 

9,227

 

 

513

 

 

9,740

 

 

 

35,319

 

 

13,437

 

 

48,756

 

Other revenues

 

1,527

 

 

194

 

 

1,721

 

 

 

25,857

 

 

6,459

 

 

32,316

 

Total revenues

$

34,409

 

$

1,069

 

$

35,478

 

 

$

470,007

 

$

118,061

 

$

588,068

 

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

September 30, 2021

 

 

September 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

 

$

348,484

 

$

53,306

 

$

401,790

 

 

$

678,445

 

$

91,519

 

$

769,964

 

Goods and services transferred over time (2)

 

 

27,043

 

 

5,988

 

 

33,031

 

 

 

63,432

 

 

10,438

 

 

73,870

 

Total

 

$

375,527

 

$

59,294

 

$

434,821

 

 

$

741,877

 

$

101,957

 

$

843,834

 

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

September 30, 2020

 

 

September 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

 

$

24,945

 

$

352

 

$

25,297

 

 

$

426,476

 

$

101,681

 

$

528,157

 

Goods and services transferred over time (2)

 

 

9,464

 

 

717

 

 

10,181

 

 

 

43,531

 

 

16,380

 

 

59,911

 

Total

 

$

34,409

 

$

1,069

 

$

35,478

 

 

$

470,007

 

$

118,061

 

$

588,068

 

(1)
U.S. segment revenues include eliminations of intercompany transactions with the international operating segment. See Note 17 for additional information on intercompany eliminations.
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 nine months ended September 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

 

 

 

 

 

3,409

 

Cash received from customers in advance

 

 

 

 

 

58,256

 

Common units received from NCM

 

 

10,237

 

 

 

 

Interest accrued related to significant financing component

 

 

17,723

 

 

 

 

Revenue recognized during period

 

 

(24,003

)

 

 

(64,625

)

Foreign currency translation adjustments

 

 

 

 

 

(1,253

)

Balance at September 30, 2021

 

$

348,212

 

 

$

134,617

 

(1)
See Note 9 for the maturity of NCM screen advertising advances as of September 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 Obligationt 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 September 30, 2021 and when the Company expects to recognize this revenue.

 

 

Twelve Months Ended September 30,

 

 

 

 

 

 

 

Remaining Performance Obligations

 

2022

 

 

2023

 

 

2024

 

 

2025

 

 

2026

 

 

Thereafter

 

 

Total

 

Other deferred revenues

 

$

117,093

 

 

$

17,524

 

 

$

 

 

$

 

 

$

 

 

$

 

 

$

134,617