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OTHER INVESTMENTS (Tables)
 12 Months Ended
Dec. 31, 2022
Summary of Activity for Each of Company's Other Investments

Below is a summary of activity for each of the Company’s other investments for the periods indicated:

 

 

DCIP

 

 

AC JV,
LLC

 

 

DCDC

 

 

FE Concepts

 

 

Other (1)

 

 

Total

 

Balance at January 1, 2020

 

$

124.7

 

 

$

5.0

 

 

$

3.2

 

 

$

19.5

 

 

$

2.9

 

 

$

155.3

 

Equity in loss

 

 

(24.6

)

 

 

(1.3

)

 

 

(1.0

)

 

 

(1.2

)

 

 

—

 

 

 

(28.1

)

Cash contributions

 

 

0.1

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

0.1

 

Cash distributions received

 

 

(10.4

)

 

 

—

 

 

 

(0.9

)

 

 

—

 

 

 

—

 

 

 

(11.3

)

Non-cash distribution received (2)

 

 

(89.8

)

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(89.8

)

Other (3)

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(2.4

)

 

 

(2.4

)

Balance at December 31, 2020

 

 

—

 

 

 

3.7

 

 

 

1.3

 

 

 

18.3

 

 

 

0.5

 

 

 

23.8

 

Equity in income

 

 

—

 

 

 

—

 

 

 

0.5

 

 

 

1.0

 

 

 

—

 

 

 

1.5

 

Other (1)

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(0.1

)

 

 

(0.1

)

Balance at December 31, 2021

 

$

—

 

 

$

3.7

 

 

$

1.8

 

 

$

19.3

 

 

$

0.4

 

 

$

25.2

 

Equity in income

 

 

—

 

 

 

3.4

 

 

 

—

 

 

 

1.2

 

 

 

—

 

 

 

4.6

 

Cash distributions received

 

 

—

 

 

 

(2.9

)

 

 

—

 

 

 

(4.0

)

 

 

—

 

 

 

(6.9

)

Other (1)

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(0.3

)

 

 

(0.3

)

Balance at December 31, 2022

 

$

—

 

 

$

4.2

 

 

$

1.8

 

 

$

16.5

 

 

$

0.1

 

 

$

22.6

 
(1)
Consists primarily of mark-to-market adjustment on an investment in marketable securities.
(2)
Consists of projectors distributed to the Company from DCIP as discussed below.
(3)
Consists primarily of the impairment of a cost method investment in the year ended December 31, 2020 and mark-to-market adjustment on an investment in marketable securities.
Digital Cinema Implementation Partners  
Summary Financial Information

Below is summary financial information for DCIP as of and for the periods indicated:

 

 

Year Ended December 31,

 

 

 

2020

 

 

2021

 

 

2022 (1)

 

Revenue

 

$

30.6

 

 

$

54.4

 

 

$

1.0

 

Operating income (loss)

 

$

(105.7

)

 

$

43.1

 

 

$

(0.9

)

Net income (loss)

 

$

(114.2

)

 

$

45.3

 

 

$

(1.1

)

 

 

 

 

As of

 

 

 

December 31, 2021

 

 

December 31, 2022 (1)

 

Current assets

 

$

22.9

 

 

$

0.3

 

Current liabilities

 

$

11.6

 

 

$

—

 

Members' equity (deficit)

 

$

11.3

 

 

$

0.3

 

(1) DCIP ceased operations at the end of the second quarter of 2022.
Transactions with DCIP

In addition to the activity presented in the other investments table above, the Company had the following transactions with DCIP during the periods indicated:

 

 

Year Ended December 31,

 

 

 

2020

 

 

2021

 

 

2022

 

Equipment lease payments (1)(2)

 

$

1.7

 

 

$

—

 

 

$

—

 

Warranty reimbursements from DCIP (2)

 

$

(7.0

)

 

$

(0.8

)

 

$

—

 

Management services fees (2)

 

$

0.2

 

 

$

—

 

 

$

—

 

Cash distributions from DCIP (3)

 

$

10.4

 

 

$

13.1

 

 

$

3.7

 

Non-cash distributions from DCIP (4)

 

$

12.9

 

 

$

—

 

 

$

—

 
(1)
Excludes lease termination payments of $0.7 and $3.9 made during the years ended December 31, 2020 and 2021, respectively. See discussion of MELA termination at Distribution of Digital Projectors above.
(2)
Amounts reflected in utilities and other costs on the consolidated statements of loss of Holdings and CUSA.
(3)
Recorded as a reduction in the Company's investment in DCIP for the year ended December 31, 2020. Recorded in cash distributions from DCIP on the consolidated statements of loss of Holdings and CUSA for the years ended December 31, 2021 and 2022. See discussion at Distribution of Projectors from DCIP above.
Recorded as non-cash distributions from DCIP on each of Holdings’ and CUSA’s consolidated statements loss. See discussion at Distribution of Projectors from DCIP above.