Quarterly report pursuant to Section 13 or 15(d)

Revenue Recognition (Tables)

v3.22.2.2
Revenue Recognition (Tables)
9 Months Ended
Sep. 30, 2022
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 revenue disaggregated based on major type of good or service and by reportable operating segment.

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

September 30, 2022

 

 

September 30, 2022

 

 

 

U.S.

 

International

 

 

 

 

U.S.

 

International

 

 

 

 

 

Operating

 

Operating

 

 

 

 

Operating

 

Operating

 

 

 

 

 

Segment (1)

 

Segment

 

Consolidated

 

 

Segment (1)

 

Segment

 

Consolidated

 

Admissions revenue

 

$

257.6

 

$

67.0

 

$

324.6

 

 

$

759.1

 

$

183.2

 

$

942.3

 

Concession revenue

 

 

200.8

 

 

52.8

 

 

253.6

 

 

 

576.5

 

 

136.1

 

 

712.6

 

Screen advertising, screen rental and promotional revenue (2)

 

 

20.6

 

 

11.3

 

 

31.9

 

 

 

60.7

 

 

30.7

 

 

91.4

 

Other revenue

 

 

32.7

 

 

7.6

 

 

40.3

 

 

 

88.2

 

 

20.5

 

 

108.7

 

Total revenue

 

$

511.7

 

$

138.7

 

$

650.4

 

 

$

1,484.5

 

$

370.5

 

$

1,855.0

 

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

September 30, 2021

 

 

September 30, 2021

 

 

 

U.S.

 

International

 

 

 

 

U.S.

 

International

 

 

 

 

 

Operating

 

Operating

 

 

 

 

Operating

 

Operating

 

 

 

 

 

Segment (1)

 

Segment

 

Consolidated

 

 

Segment (1)

 

Segment

 

Consolidated

 

Admissions revenue

 

$

195.3

 

$

30.2

 

$

225.5

 

 

$

384.4

 

$

50.7

 

$

435.1

 

Concession revenue

 

 

142.6

 

 

21.6

 

 

164.2

 

 

 

275.0

 

 

38.5

 

 

313.5

 

Screen advertising, screen rental and promotional revenue (2)

 

 

18.0

 

 

4.8

 

 

22.8

 

 

 

44.5

 

 

7.6

 

 

52.1

 

Other revenue

 

 

19.5

 

 

2.8

 

 

22.3

 

 

 

37.9

 

 

5.2

 

 

43.1

 

Total revenue

 

$

375.4

 

$

59.4

 

$

434.8

 

 

$

741.8

 

$

102.0

 

$

843.8

 

(1)
U.S. segment revenue excludes intercompany transactions with the international operating segment. See Note 16 for the amount of intercompany eliminations for the periods presented.
(2)
Amount includes amortization of NCM screen advertising advances. See NCM Screen Advertising Advances and Other Deferred Revenue below.

The following tables present revenue disaggregated based on timing of recognition and by reportable operating segment.

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

September 30, 2022

 

 

September 30, 2022

 

 

 

U.S.

 

International

 

 

 

 

U.S.

 

International

 

 

 

 

 

Operating

 

Operating

 

 

 

 

Operating

 

Operating

 

 

 

 

 

Segment (1)

 

Segment

 

Consolidated

 

 

Segment (1)

 

Segment

 

Consolidated

 

Goods and services transferred at a point in time

 

$

478.9

 

$

123.8

 

$

602.7

 

 

$

1,401.0

 

$

332.2

 

$

1,733.2

 

Goods and services transferred over time (2)

 

 

32.8

 

 

14.9

 

 

47.7

 

 

 

83.5

 

 

38.3

 

 

121.8

 

Total

 

$

511.7

 

$

138.7

 

$

650.4

 

 

$

1,484.5

 

$

370.5

 

$

1,855.0

 

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

September 30, 2021

 

 

September 30, 2021

 

 

 

U.S.

 

International

 

 

 

 

U.S.

 

International

 

 

 

 

 

Operating

 

Operating

 

 

 

 

Operating

 

Operating

 

 

 

 

 

Segment (1)

 

Segment

 

Consolidated

 

 

Segment (1)

 

Segment

 

Consolidated

 

Goods and services transferred at a point in time

 

$

348.4

 

$

53.3

 

$

401.7

 

 

$

678.4

 

$

91.5

 

$

769.9

 

Goods and services transferred over time (2)

 

 

27.0

 

 

6.1

 

 

33.1

 

 

 

63.4

 

 

10.5

 

 

73.9

 

Total

 

$

375.4

 

$

59.4

 

$

434.8

 

 

$

741.8

 

$

102.0

 

$

843.8

 

(1)
U.S. segment revenue excludes intercompany transactions with the international operating segment. See Note 16 for the amount of intercompany eliminations for the periods presented.
Amount includes amortization of NCM screen advertising advances. See NCM Screen Advertising Advances and Other Deferred Revenue below.
Changes in Advances and Deferred Revenues

The following table presents changes in the Company’s NCM screen advertising advances and other deferred revenue for the nine months ended September 30, 2022.

 

 

NCM screen advertising advances (1)

 

 

Other
Deferred
Revenues
(2)

 

Balance at January 1, 2022

 

$

346.0

 

 

$

160.3

 

Amounts recognized as accounts receivable

 

 

 

 

 

1.0

 

Cash received from customers in advance

 

 

 

 

 

163.5

 

Common units received from NCM

 

 

1.3

 

 

 

 

Interest accrued related to significant financing component

 

 

17.5

 

 

 

 

Revenue recognized during period

 

 

(24.3

)

 

 

(150.9

)

Foreign currency translation adjustments

 

 

 

 

 

(1.0

)

Balance at September 30, 2022

 

$

340.5

 

 

$

172.9

 

(1)
See Note 8 for the maturity of NCM screen advertising advances as of September 30, 2022.
(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 revenue collected but not yet earned for screen advertising, screen rental and other promotional activities. Amounts are 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, 2022 and when the Company expects to recognize this revenue.

 

 

Twelve Months Ended September 30,

 

 

 

 

 

 

 

Remaining Performance Obligations

 

2023

 

 

2024

 

 

Thereafter

 

 

Total

 

Other deferred revenue

 

$

153.3

 

 

$

19.6

 

 

$

 

 

$

172.9