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Impairment of Long-Lived Assets | 9 Months Ended
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Sep. 30, 2021
Impairment Or Disposal Of Tangible Assets Disclosure [Abstract] |
Impairment of Long-Lived Assets | 13. Impairment of Long-Lived Assets The Company performed long-lived asset impairment evaluations at the end of each quarter during the nine months ended September 30, 2021. The following table is a summary of the evaluations performed by asset classification:
| Asset |  | Impairment |  | Valuation |  | Valuation
| Category |  | Test Type |  | Approach |  | Multiple
First and Second Quarters |  |  |  |  |  |
| Goodwill |  | Qualitative |  | N/A |  | N/A
| Tradename Intangible Assets |  | Qualitative |  | N/A |  | N/A
| Other Long-lived Assets |  | Qualitative |  | N/A |  | N/A
Third Quarter |  |  |  |  |  |
| Goodwill |  | Qualitative |  | N/A |  | N/A
| Tradename Intangible Assets |  | Qualitative |  | N/A |  | N/A
| Other Long-lived Assets |  | Quantitative (1) |  | Market |  | 3.1 to 6 times
(1) Quantitative test performed for certain theatre level assets where indicators existed under a qualitative test. For theatre level asset evaluations performed, the Company used the lesser of the remaining theatre lease term or the applicable market multiple to determine impairment exposure. Goodwill – The Company evaluates goodwill for impairment as follows:  Qualitative approach The Company’s qualitative assessment of goodwill for each reporting unit considers economic and market conditions, industry trading multiples and the impact of recent developments and events on the estimated fair values as determined during its most recent quantitative assessment Tradename Intangible assets – The Company evaluates tradename intangible assets for impairment as follows:  Qualitative approach The Company’s qualitative assessment considers industry and market conditions and recent developments that may impact the revenue forecasts and other estimates used in its most recent quantitative assessment. Other Long-lived Assets– The Company evaluates other long-lived assets for impairment as follows:  Quantitative approach The Company performs a quantitative evaluation at the theatre level using estimated undiscounted cash flows from continuing use through the remainder of the theatre’s useful life. Significant judgment, including management’s estimate of the impact of temporary theatre closures and other considerations as a result of COVID-19, was involved in estimating cash flows and fair value. Fair value is determined based on a multiple of cash flows. Management’s estimates, which fall under Level 3 of the U.S. GAAP fair value hierarchy, as defined by FASB ASC Topic 820-10-35, are based on projected operating performance, market transactions and industry trading multiples.  Qualitative approach The Company performs a qualitative evaluation for certain theatres based on the results of the quantitative evaluation noted above. The Company’s qualitative evaluation considers relevant market transactions, industry trading multiples and recent developments that would impact its estimates of future cash flows. The following table is a summary of the impairment recorded as a result of the evaluations performed during the three and nine months ended September 30, 2021 and 2020:
|  | Three Months Ended |  |  | Nine Months Ended |
|  | September 30, |  |  | September 30, |
|  | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
U.S. Segment |  |  |  |  |  |  |  |  |  |  |  |
Theatre properties |  | $ | 4,801 |  |  | $ | 2,075 |  |  | $ | 4,801 |  |  | $ | 5,718 |
Theatre operating lease right-of-use assets |  |  | 2,638 |  |  |  | 1,123 |  |  |  | 2,638 |  |  |  | 7,075 |
Cost method investment |  |  | — |  |  |  | 2,500 |  |  |  | — |  |  |  | 2,500 |
U.S. total |  |  | 7,439 |  |  |  | 5,698 |  |  |  | 7,439 |  |  |  | 15,293 |
International segment |  |  |  |  |  |  |  |  |  |  |  |
Theatre properties |  |  | 39 |  |  |  | 938 |  |  |  | 39 |  |  |  | 5,422 |
Theatre operating lease right-of-use assets |  |  | 2 |  |  |  | 1,654 |  |  |  | 2 |  |  |  | 4,194 |
Goodwill |  |  | — |  |  |  | 16,128 |  |  |  | — |  |  |  | 16,128 |
Intangible assets |  |  | — |  |  |  | 177 |  |  |  | — |  |  |  | 177 |
International total |  |  | 41 |  |  |  | 18,897 |  |  |  | 41 |  |  |  | 25,921 |
Total Impairment |  | $ | 7,480 |  |  | $ | 24,595 |  |  | $ | 7,480 |  |  | $ | 41,214 |

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- Definition The entire disclosure for the details of the charge against earnings resulting from the aggregate write down of all assets from their carrying value to their fair value. Disclosure may also include a description of the impaired asset and facts and circumstances leading to the impairment, amount of the impairment loss and where the loss is located in the income statement, method(s) for determining fair value, and the segment in which the impaired asset is reported. + References No definition available. + Details
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