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Goodwill and Other Intangible Assets | 9 Months Ended
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Sep. 30, 2017
Goodwill And Intangible Assets Disclosure [Abstract] |
Goodwill and Other Intangible Assets |
9. | Goodwill and Other Intangible Assets
The Company’s goodwill was as follows:
|  | U.S. Operating Segment |  |  | International Operating Segment |  |  | Total |
Balance at January 1, 2017 (1) |  | $ | 1,164,163 |  |  | $ | 98,800 |  |  | $ | 1,262,963 |
Acquisitions of theatres (2) |  |  | 9,878 |  |  |  | 20,401 |  |  |  | 30,279 |
Foreign currency translation adjustments |  |  | — |  |  |  | 1,100 |  |  |  | 1,100 |
Balance at September 30, 2017 (1) |  | $ | 1,174,041 |  |  | $ | 120,301 |  |  | $ | 1,294,342 |
| (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) | Represents preliminary purchase price allocations associated with the acquisitions of theatres.
The Company evaluates goodwill for impairment annually during the fourth quarter or whenever events or changes in circumstances indicate the carrying value of the goodwill may not be fully recoverable. The Company evaluates goodwill for impairment at the reporting unit level and has allocated goodwill to the reporting unit based on an estimate of its relative fair value. Management considers the reporting unit to be each of its nineteen regions in the U.S. and seven countries internationally with Honduras, El Salvador, Nicaragua, Costa Rica, Panama and Guatemala considered one reporting unit (the Company does not have goodwill recorded for all of its international locations). For the year ended December 31, 2016, the Company performed a qualitative goodwill impairment assessment on all reporting units, in accordance with ASC Topic 350-20-35. No events or changes in circumstances occurred during the nine months ended September 30, 2017 that indicated the carrying value of goodwill might exceed its estimated fair value. Intangible assets consisted of the following:
|  | Balance at |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Balance at |
|  | January 1, |  |  |  |  |  |  |  |  |  |  |  |  |  |  | September 30, |
|  | 2017 |  |  | Additions (1) |  |  | Amortization |  |  | Other (2) |  |  | 2017 |
Intangible assets with finite lives: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross carrying amount |  | $ | 99,796 |  |  | $ | 4,453 |  |  | $ | — |  |  | $ | (1,332 | ) |  | $ | 102,917 |
Accumulated amortization |  |  | (64,606 | ) |  | ― |  |  |  | (3,606 | ) |  |  | 1,162 |  |  |  | (67,050 | )
Total net intangible assets with finite lives |  | $ | 35,190 |  |  | $ | 4,453 |  |  | $ | (3,606 | ) |  | $ | (170 | ) |  | $ | 35,867 |
Intangible assets with indefinite lives: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Tradename |  |  | 299,709 |  |  | ― |  |  | ― |  |  |  | 81 |  |  |  | 299,790 |
Total intangible assets — net |  | $ | 334,899 |  |  | $ | 4,453 |  |  | $ | (3,606 | ) |  | $ | (89 | ) |  | $ | 335,657 |
| (1) | Amount represents preliminary fair values allocated to intangible assets acquired as part of the acquisitions of theatres.
| (2) | Amounts represent foreign currency translation adjustments and the write-off of a favorable lease associated with a closed domestic theatre.
For the year ended December 31, 2016, the Company performed a qualitative assessment for all indefinite-lived tradename assets other than its tradename in Ecuador, for which the Company performed a quantitative assessment. For the year ended December 31, 2016, the Company also performed a quantitative test on its definite-lived tradename associated with certain of its Rave-branded theatres acquired in 2013. No events or changes in circumstances occurred during the nine months ended September 30, 2017 that indicated the carrying value of its tradename assets might exceed their estimated fair values. Estimated aggregate future amortization expense for intangible assets is as follows:
For the three months ended December 31, 2017 |  | $ | 1,668 |
For the twelve months ended December 31, 2018 |  |  | 5,964 |
For the twelve months ended December 31, 2019 |  |  | 5,101 |
For the twelve months ended December 31, 2020 |  |  | 4,995 |
For the twelve months ended December 31, 2021 |  |  | 2,444 |
Thereafter |  |  | 15,695 |
Total |  | $ | 35,867 |

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- Definition The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
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