GOODWILL AND OTHER INTANGIBLE ASSETS - NET (Tables)
|
12 Months Ended |
Dec. 31, 2020 |
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, 2018 (1)
|
|
$
|
1,174,041
|
|
|
$
|
102,283
|
|
|
$
|
1,276,324
|
|
Acquisition of theatres (2)
|
|
|
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
|
|
Impairment (3)
|
|
|
—
|
|
|
|
(16,128
|
)
|
|
|
(16,128
|
)
|
Foreign currency translation adjustments
|
|
|
—
|
|
|
|
(13,403
|
)
|
|
|
(13,403
|
)
|
Balance at December 31, 2020 (4)
|
|
$
|
1,182,853
|
|
|
$
|
70,987
|
|
|
$
|
1,253,840
|
|
(1)
|
Balances are presented net of historical accumulated impairment losses of $214,031 for the U.S. operating segment and $27,622 for the international operating segment.
|
(2)
|
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.
|
(3)
|
See Note 11 for discussion of impairment evaluations performed during the year ended December 31, 2020.
|
(4)
|
Balances are presented net of historical accumulated impairment losses of $214,031 for the U.S. operating segment and $43,750 for the international operating segment
|
|
Intangible Assets-Net |
As of December 31, intangible assets, net consisted of the following:
|
|
Balance at January 1, 2019
|
|
|
Additions (1)
|
|
|
Impact of ASC Topic 842 (3)
|
|
|
Amortization
|
|
|
Other
|
|
|
Balance at December 31, 2019
|
|
Intangible assets with finite lives:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross carrying amount
|
|
$
|
105,256
|
|
|
$
|
(143
|
)
|
|
$
|
(18,024
|
)
|
|
$
|
—
|
|
|
$
|
(2,136
|
)
|
|
$
|
84,953
|
|
Accumulated amortization
|
|
|
(74,603
|
)
|
|
|
—
|
|
|
|
13,597
|
|
|
|
(4,994
|
)
|
|
|
2,130
|
|
|
|
(63,870
|
)
|
Total net intangible assets with finite lives
|
|
$
|
30,653
|
|
|
$
|
(143
|
)
|
|
$
|
(4,427
|
)
|
|
$
|
(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
|
|
|
$
|
(4,427
|
)
|
|
$
|
(4,994
|
)
|
|
$
|
(69
|
)
|
|
$
|
321,769
|
|
|
|
Balance at January 1, 2020
|
|
|
Amortization
|
|
|
Other (2)
|
|
|
Balance at December 31, 2020
|
|
Intangible assets with finite lives:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross carrying amount
|
|
$
|
84,953
|
|
|
$
|
—
|
|
|
$
|
(2,521
|
)
|
|
$
|
82,432
|
|
Accumulated amortization
|
|
|
(63,870
|
)
|
|
|
(4,746
|
)
|
|
|
200
|
|
|
|
(68,416
|
)
|
Total net intangible assets with finite lives
|
|
$
|
21,083
|
|
|
$
|
(4,746
|
)
|
|
$
|
(2,321
|
)
|
|
$
|
14,016
|
|
Intangible assets with indefinite lives:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Tradename and other
|
|
|
300,686
|
|
|
|
—
|
|
|
|
(507
|
)
|
|
|
300,179
|
|
Total intangible assets — net
|
|
$
|
321,769
|
|
|
$
|
(4,746
|
)
|
|
$
|
(2,828
|
)
|
|
$
|
314,195
|
|
(1)
|
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.
|
(2)
|
Includes the write-off of fully amortized intangible assets, foreign currency translation adjustments and impairment recorded related to a previously acquired theatre leasehold interest in Brazil. See Note 11 for discussion of impairment evaluations performed during the year ended December 31, 2020.
|
(3)
|
Amount represents intangible assets reclassified to operating lease right of use assets and finance lease assets upon the adoption of ASC 842 effective January 1, 2019.
|
|
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, 2021
|
|
$
|
2,686
|
|
For the year ended December 31, 2022
|
|
|
2,553
|
|
For the year ended December 31, 2023
|
|
|
2,460
|
|
For the year ended December 31, 2024
|
|
|
2,460
|
|
For the year ended December 31, 2025
|
|
|
2,342
|
|
Thereafter
|
|
|
1,515
|
|
Total
|
|
$
|
14,016
|
|
|