Quarterly report pursuant to Section 13 or 15(d)

Investment in National CineMedia LLC (Tables)

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

 

N C M Screen Advertising Advances  
Aggregate Amount of Transaction Price Allocated to Performance Obligationt 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 September 30,

 

 

 

 

 

 

 

Remaining Maturity

 

2022

 

 

2023

 

 

2024

 

 

2025

 

 

2026

 

 

Thereafter

 

 

Total

 

NCM screen advertising advances (1)

 

$

8,968

 

 

$

9,587

 

 

$

10,251

 

 

$

10,962

 

 

$

11,724

 

 

$

296,720

 

 

$

348,212

 

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)

 

 

 

 

 

 

 

 

 

 

(7,516

)

 

 

 

7,516

 

Interest accrued related to significant financing component

 

 

 

 

(17,723

)

 

 

 

 

 

 

 

17,723

 

 

 

Receipt under tax receivable agreement

 

 

(156

)

 

 

 

(77

)

 

 

 

 

 

 

 

233

 

Equity in loss

 

 

(22,046

)

 

 

 

 

 

22,046

 

 

 

 

 

 

 

Amortization of screen advertising advances

 

 

 

 

24,003

 

 

 

 

 

 

(24,003

)

 

 

 

 

Balance as of and for the nine months ended September 30, 2021

 

$

139,997

 

$

(348,212

)

$

(77

)

$

22,046

 

$

(31,519

)

$

17,723

 

$

7,749

 

(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 $2,850.
Summary Financial Information

NCM Financial Information

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

 

 

Three Months Ended

 

 

Three Months ended

 

 

Nine Months Ended

 

 

Nine Months Ended

 

 

 

September 30, 2021

 

 

September 24, 2020

 

 

September 30, 2021

 

 

September 24, 2020

 

Gross revenues

 

$

31,677

 

 

$

6,000

 

 

$

51,080

 

 

$

74,700

 

Operating income (loss)

 

$

(18,669

)

 

$

(20,073

)

 

$

(76,607

)

 

$

(38,973

)

Net loss

 

$

(35,335

)

 

$

(34,950

)

 

$

(125,699

)

 

$

(81,350

)

 

 

 

As of

 

 

As of

 

 

 

September 30, 2021

 

 

December 31, 2020

 

Current assets

 

$

97,064

 

 

$

142,566

 

Noncurrent assets

 

$

665,570

 

 

$

685,643

 

Current liabilities

 

$

48,761

 

 

$

46,872

 

Noncurrent liabilities

 

$

1,114,599

 

 

$

1,072,207

 

Members deficit

 

$

(400,726

)

 

$

(290,870

)