GOODWILL AND OTHER INTANGIBLE ASSETS - NET (Tables)
|
12 Months Ended |
Dec. 31, 2019 |
Goodwill And Intangible Assets Disclosure [Abstract] |
|
Summary of Goodwill |
The Company’s goodwill was as follows:
|
|
U.S.
Operating
Segment
|
|
|
International
Operating
Segment
|
|
|
Total
|
|
Balance at December 31, 2017 (1)
|
|
$
|
1,174,041
|
|
|
$
|
110,038
|
|
|
$
|
1,284,079
|
|
Acquisition of theatres (2)
|
|
|
—
|
|
|
|
7,204
|
|
|
|
7,204
|
|
Foreign currency translation adjustments
|
|
—
|
|
|
|
(14,959
|
)
|
|
|
(14,959
|
)
|
Balance at December 31, 2018 (1)
|
|
$
|
1,174,041
|
|
|
$
|
102,283
|
|
|
$
|
1,276,324
|
|
Acquisition of theatres (3)
|
|
|
8,812
|
|
|
|
868
|
|
|
|
9,680
|
|
Foreign currency translation adjustments
|
|
|
—
|
|
|
|
(2,633
|
)
|
|
|
(2,633
|
)
|
Balance at December 31, 2019 (1)
|
|
$
|
1,182,853
|
|
|
$
|
100,518
|
|
|
$
|
1,283,371
|
|
(1)
|
Balances are presented net of accumulated impairment losses of $214,031 for the U.S. operating segment and $27,622 for the international operating segment.
|
(2)
|
Amount represents preliminary purchase price allocation for theatres acquired in Brazil.
|
(3)
|
Amounts represent acquisition of two theatres in the U.S. and final purchase price adjustment for theatres acquired in Brazil during the year ended December 31, 2018.
|
|
Intangible Assets-Net |
As of December 31, intangible assets-net, consisted of the following:
|
|
Balance at January 1, 2018
|
|
|
Additions (1)
|
|
|
Amortization
|
|
|
Other (2)
|
|
|
Balance at December 31, 2018
|
|
Intangible assets with finite lives:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross carrying amount
|
|
$
|
105,895
|
|
|
$
|
1,203
|
|
|
$
|
—
|
|
|
$
|
(1,842
|
)
|
|
$
|
105,256
|
|
Accumulated amortization
|
|
|
(68,869
|
)
|
|
|
—
|
|
|
|
(5,734
|
)
|
|
|
-
|
|
|
|
(74,603
|
)
|
Total net intangible assets with finite lives
|
|
$
|
37,026
|
|
|
$
|
1,203
|
|
|
$
|
(5,734
|
)
|
|
$
|
(1,842
|
)
|
|
$
|
30,653
|
|
Intangible assets with indefinite lives:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Tradename and other
|
|
|
299,735
|
|
|
|
853
|
|
|
|
—
|
|
|
|
(331
|
)
|
|
|
300,257
|
|
Total intangible assets — net
|
|
$
|
336,761
|
|
|
$
|
2,056
|
|
|
$
|
(5,734
|
)
|
|
$
|
(2,173
|
)
|
|
$
|
330,910
|
|
|
|
Balance at January 1, 2019
|
|
|
Additions (3)
|
|
|
Impact of ASC Topic 842 (4)
|
|
|
Amortization
|
|
|
Other (2)
|
|
|
Balance at December 31, 2019
|
|
Intangible assets with finite lives:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross carrying amount
|
|
$
|
105,256
|
|
|
$
|
(143
|
)
|
|
$
|
(4,427
|
)
|
|
$
|
—
|
|
|
$
|
(6
|
)
|
|
$
|
100,680
|
|
Accumulated amortization
|
|
|
(74,603
|
)
|
|
|
—
|
|
|
|
—
|
|
|
|
(4,994
|
)
|
|
|
—
|
|
|
|
(79,597
|
)
|
Total net intangible assets with finite lives
|
|
$
|
30,653
|
|
|
$
|
(143
|
)
|
|
$
|
—
|
|
|
$
|
(4,994
|
)
|
|
$
|
(6
|
)
|
|
$
|
21,083
|
|
Intangible assets with indefinite lives:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Tradename and other
|
|
|
300,257
|
|
|
|
492
|
|
|
|
—
|
|
|
|
—
|
|
|
|
(63
|
)
|
|
|
300,686
|
|
Total intangible assets — net
|
|
$
|
330,910
|
|
|
$
|
349
|
|
|
$
|
—
|
|
|
$
|
(4,994
|
)
|
|
$
|
(69
|
)
|
|
$
|
321,769
|
|
(1)
|
Activity represents preliminary fair values recorded as a result of the acquisition of theatres in Brazil.
|
(2)
|
Amount represents the write-off of fully amortized intangible assets related to non-compete agreements, the acquisition of tradeable liquor licenses, and foreign currency translation adjustments.
|
(3)
|
Amount represents intangible assets recorded as a result of two theatres acquired in the U.S. and final purchase price adjustment for theatres acquired in Brazil during the year ended December 31, 2018.
|
(4)
|
See Note 3 for further discussion of the impact of the adoption of ASC Topic 842.
|
|
Estimated Aggregate Future Amortization Expense for Intangible Assets |
Estimated aggregate future amortization expense for intangible assets is as follows:
For the year ended December 31, 2020
|
|
$
|
5,036
|
|
For the year ended December 31, 2021
|
|
|
3,127
|
|
For the year ended December 31, 2022
|
|
|
2,974
|
|
For the year ended December 31, 2023
|
|
|
2,876
|
|
For the year ended December 31, 2024
|
|
|
2,876
|
|
Thereafter
|
|
|
4,194
|
|
Total
|
|
$
|
21,083
|
|
|