Annual report pursuant to Section 13 and 15(d)

Revenue Recognition (Tables)

v3.10.0.1
Revenue Recognition (Tables)
12 Months Ended
Dec. 31, 2018
Revenue Initial Application Period Cumulative Effect Transition [Line Items]  
Summary of Revenues Disaggregated Based on Type of Good Or Service By Reportable Operating Segment and On Timing of Revenue Recognition

The following table presents revenues for the year ended December 31, 2018, disaggregated based on major type of good or service and by reportable operating segment.

 

 

Year Ended

 

 

 

December 31, 2018

 

 

 

U.S.

 

 

International

 

 

 

 

 

 

 

Operating

 

 

Operating

 

 

 

 

 

Major Goods/Services

 

Segment (1)

 

 

Segment

 

 

Consolidated

 

Admissions revenues

 

$

1,461,151

 

 

$

373,022

 

 

$

1,834,173

 

Concession revenues

 

 

892,391

 

 

 

216,402

 

 

 

1,108,793

 

Screen advertising and promotional

   revenues

 

 

78,591

 

 

 

61,269

 

 

 

139,860

 

Other revenues

 

 

106,824

 

 

 

32,085

 

 

 

138,909

 

Total revenues

 

$

2,538,957

 

 

$

682,778

 

 

$

3,221,735

 

 

(1)

U.S. segment revenues include eliminations of intercompany transactions with the international operating segment.  See Note 19 for additional information on intercompany eliminations.

The following table presents revenues for the year ended December 31, 2018, disaggregated based on timing of revenue recognition (as discussed above).

 

 

Year Ended

 

 

 

December 31, 2018

 

 

 

U.S.

 

 

International

 

 

 

 

 

 

 

Operating

 

 

Operating

 

 

 

 

 

 

 

Segment (1)

 

 

Segment

 

 

Consolidated

 

Goods and services transferred at a

   point in time

 

$

2,453,313

 

 

$

608,347

 

 

$

3,061,660

 

Goods and services transferred over

   time

 

 

85,644

 

 

 

74,431

 

 

 

160,075

 

Total

 

$

2,538,957

 

 

$

682,778

 

 

$

3,221,735

 

 

(1)

U.S. segment revenues include eliminations of intercompany transactions with the international operating segment.  See Note 19 for additional information on intercompany eliminations.

Changes in Deferred Revenues

The following table presents changes in the Company’s deferred revenues for the year ended December 31, 2018.  

Deferred Revenues

 

Deferred

Revenue -

NCM

 

 

Other

Deferred

Revenues (1)

 

 

Total

 

Balance at January 1, 2018

 

$

351,706

 

 

$

86,498

 

 

$

438,204

 

Impact of adoption of ASC Topic 606

 

 

(53,605

)

 

 

 

 

 

(53,605

)

Amounts recognized as accounts receivable

 

 

 

 

 

6,921

 

 

 

6,921

 

Cash received from customers in advance

 

 

 

 

 

156,237

 

 

 

156,237

 

Common units received from NCM (see Note 6)

 

 

5,012

 

 

 

 

 

 

5,012

 

Revenue recognized during period

 

 

(15,764

)

 

 

(141,176

)

 

 

(156,940

)

Foreign currency translation adjustments

 

 

 

 

 

(2,405

)

 

 

(2,405

)

Balance at December 31, 2018

 

$

287,349

 

 

$

106,075

 

 

$

393,424

 

 

(1)

Includes liabilities associated with outstanding gift cards and SuperSavers, points or rebates outstanding under the Company’s loyalty and membership programs and revenues not yet recognized for screen advertising and other promotional activities. Classified as accounts payable and accrued expenses or other long-term liabilities on the consolidated balance sheet.

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 December 31, 2018 and when the Company expects to recognize this revenue.

 

 

Twelve Months Ended December 31,

 

 

 

 

 

 

 

 

 

Remaining Performance Obligations

 

2019

 

 

2020

 

 

2021

 

 

2022

 

 

2023

 

 

Thereafter

 

 

Total

 

Deferred revenue - NCM

 

$

15,831

 

 

$

15,831

 

 

$

15,831

 

 

$

15,831

 

 

$

15,831

 

 

$

208,194

 

 

$

287,349

 

Deferred revenue - other

 

 

89,523

 

 

 

16,146

 

 

 

207

 

 

 

199

 

 

 

 

 

 

 

 

 

106,075

 

Total

 

$

105,354

 

 

$

31,977

 

 

$

16,038

 

 

$

16,030

 

 

$

15,831

 

 

$

208,194

 

 

$

393,424

 

Adoption of ASC Topic 606  
Revenue Initial Application Period Cumulative Effect Transition [Line Items]  
Summary of Impact Upon Adoption of ASC Topic 606 on Statements of Income and Cash Flows and Balance Sheet

The significant changes discussed above had the following impact on the Company’s statements of income and cash flows for the year ended December 31, 2018:

 

 

 

Without Adoption of ASC 606

 

 

Impact of Adoption of ASC 606

 

 

As Reported

 

Statement of income:

 

 

 

 

 

 

 

 

 

 

 

 

Admissions revenues

 

$

1,839,723

 

 

$

(5,550

)

 

$

1,834,173

 

Concession revenues

 

$

1,110,703

 

 

$

(1,910

)

 

$

1,108,793

 

Other revenues

 

$

161,743

 

 

$

117,026

 

 

$

278,769

 

Utilities and other expense

 

$

354,740

 

 

$

93,330

 

 

$

448,070

 

Interest expense - NCM

 

$

 

 

$

19,724

 

 

$

19,724

 

Statement of cash flows:

 

 

 

 

 

 

 

 

 

 

 

 

Amortization of deferred revenues, deferred lease incentives and other

 

$

(17,602

)

 

$

(4,104

)

 

$

(21,706

)

Changes in other assets and liabilities - Other long-term liabilities

 

$

4,082

 

 

$

7,592

 

 

$

11,674

 

 

The impact of adoption of ASC 606 on the Company’s balance sheet as of December 31, 2018 was as follows:

 

 

 

Without Adoption of ASC 606

 

 

Impact of Adoption of ASC 606

 

 

As Reported

 

Balance sheet line items:

 

 

 

 

 

 

 

 

 

 

 

 

Deferred revenue - NCM (1)

 

$

345,058

 

 

$

(57,709

)

 

$

287,349

 

Long-term deferred tax liability

 

$

142,547

 

 

$

13,079

 

 

$

155,626

 

Other long-term liabilities

 

$

42,756

 

 

$

7,592

 

 

$

50,348

 

Retained earnings

 

$

645,933

 

 

$

40,526

 

 

$

686,459