Quarterly report pursuant to Section 13 or 15(d)

Other Investments (Tables)

v3.22.2
Other Investments (Tables)
6 Months Ended
Jun. 30, 2022
Summary 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

 

 

 

June 30, 2022

 

 

July 1, 2021

 

 

June 30, 2022

 

 

July 1, 2021

 

Gross revenue

 

$

67.1

 

 

$

14.0

 

 

$

103.0

 

 

$

19.4

 

Operating income (loss)

 

$

5.6

 

 

$

(29.7

)

 

$

(16.9

)

 

$

(57.9

)

Net loss

 

$

(15.1

)

 

$

(46.9

)

 

$

(54.6

)

 

$

(90.4

)

 

 

 

As of

 

 

As of

 

 

 

June 30, 2022

 

 

December 30, 2021

 

Current assets

 

$

127.0

 

 

$

115.4

 

Noncurrent assets

 

$

646.6

 

 

$

658.0

 

Current liabilities

 

$

279.3

 

 

$

67.2

 

Noncurrent liabilities

 

$

945.4

 

 

$

1,114.7

 

Members deficit

 

$

(451.1

)

 

$

(408.5

)

Summary of Activity for Each of Company's Other Investments

Below is a summary of transactions with each of the Company’s other investees for the three and six months ended June 30, 2022 and 2021:

 

 

Three Months Ended

 

 

Six Months Ended

 

Investee

Transactions

June 30, 2022

 

 

June 30, 2021

 

 

June 30, 2022

 

 

June 30, 2021

 

DCIP

Equipment lease payments (1)

$

 

 

$

1.0

 

 

$

 

 

$

2.0

 

DCIP

Warranty reimbursements (2)

$

 

 

$

(0.4

)

 

$

 

 

$

(0.7

)

AC JV, LLC

Event fees paid (3)

$

2.7

 

 

$

0.4

 

 

$

4.5

 

 

$

0.6

 

DCDC

Content delivery fees paid (3)

$

0.1

 

 

$

0.1

 

 

$

0.3

 

 

$

0.2

 

(1)
As a result of the MELA amendment noted above, the Company recorded a lease termination liability during 2020. Lease termination payments of $1.0 and $2.0 made to DCIP during the three and six months ended June 30, 2021, respectively, reduced the liability outstanding, which was fully paid by October 2021.
(2)
Included in utilities and other costs on the condensed consolidated statements of loss.
(3)
Included in film rentals and advertising costs on the condensed consolidated statements of loss.
Digital Cinema Implementation Partners  
Summary Financial Information

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

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 30, 2022

 

 

June 30, 2021

 

 

June 30, 2022

 

 

June 30, 2021

 

Gross revenues

 

$

0.4

 

 

$

14.1

 

 

$

0.9

 

 

$

19.7

 

Operating income (loss)

 

$

(0.3

)

 

$

19.4

 

 

$

(0.8

)

 

$

23.4

 

Net income (loss)

 

$

(0.3

)

 

$

20.1

 

 

$

(0.9

)

 

$

24.0

 

 

 

 

As of

 

 

 

June 30, 2022

 

 

December 31, 2021

 

Current assets

 

$

21.8

 

 

$

22.9

 

Current liabilities

 

$

11.4

 

 

$

11.6

 

Members' equity

 

$

10.4

 

 

$

11.3

 

Transactions with DCIP

Below is a summary of activity for each of the Company’s other investees and corresponding changes to the Company's investment balances during the six months ended June 30, 2022:

 

 

 

AC JV,
LLC

 

DCDC

 

FE Concepts

 

Other

 

Total

 

Balance at January 1, 2022

 

$

3.7

 

$

1.8

 

$

19.3

 

$

0.4

 

$

25.2

 

Cash distributions received

 

 

(1.5

)

 

 

 

 

 

 

 

(1.5

)

Equity income

 

 

1.3

 

 

0.1

 

 

0.6

 

 

 

 

2.0

 

Other

 

 

 

 

 

 

 

 

(0.1

)

 

(0.1

)

Balance at June 30, 2022

 

$

3.5

 

$

1.9

 

$

19.9

 

$

0.3

 

$

25.6