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INVESTMENTS IN AFFILIATES | 12 Months Ended
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Dec. 31, 2023
Financial Support for Nonconsolidated Legal Entity [Abstract] |
INVESTMENTS IN AFFILIATES | 10. INVESTMENTS IN AFFILIATES Below is a summary of activity for each of the Company’s affiliates for the periods indicated:
|  | AC JV, LLC |  |  | DCDC |  |  | FE Concepts |  |  | Other (1) |  |  | Total |
Balance at January 1, 2021 |  | $ | 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 |
Equity in income |  |  | 4.9 |  |  |  | 0.3 |  |  |  | 1.6 |  |  |  | — |  |  |  | 6.8 |
Cash distributions received |  |  | (5.7 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (5.7 | )
Other (1) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (0.1 | ) |  |  | (0.1 | )
Balance at December 31, 2023 |  | $ | 3.4 |  |  | $ | 2.1 |  |  | $ | 18.1 |  |  | $ | - |  |  | $ | 23.6 |
(1) Consists primarily of mark-to-market adjustment on an investment in marketable securities. AC JV, LLC During December 2013, the Company, Regal, AMC (the “AC Founding Members”) and NCM entered into a series of agreements that resulted in the formation of AC JV, LLC (“AC”), a joint venture that owns “Fathom Events” (consisting of Fathom Events and Fathom Consumer Events) formerly operated by NCM. The Fathom Events business focuses on the marketing and distribution of live and pre-recorded entertainment programming to various theatre operators to provide additional programs to augment their feature film schedule. The Company paid event fees to AC of $6.2, $13.3 and $16.0 for the years ended December 31, 2021, 2022 and 2023, respectively, which are included in film rentals and advertising costs on the consolidated statements of income (loss) of Holdings and CUSA. Also, the Company received cash distributions of $2.9 and $5.7 during the years ended December 31, 2022 and 2023, which were recorded as a reduction in the Company’s investment in AC. The Company accounts for its investment in AC under the equity method of accounting. Digital Cinema Distribution Coalition The Company is a party to a joint venture with certain exhibitors and distributors called Digital Cinema Distribution Coalition (“DCDC”). DCDC operates a satellite distribution network that distributes all digital content to U.S. theatres via satellite. The Company has an approximate 14.6% ownership in DCDC. The Company paid approximately $0.6, $0.5 and $0.6 to DCDC during the years ended December 31, 2021, 2022 and 2023, respectively, related to content delivery services, which is included in film rentals and advertising costs on the consolidated statements of income (loss) of Holdings and CUSA. The Company accounts for its investment in DCDC under the equity method of accounting. FE Concepts, LLC During April 2018, the Company, through its wholly-owned indirect subsidiary CNMK Texas Properties, LLC (“CNMK”), formed a joint venture, FE Concepts, LLC (“FE Concepts”) with AWSR Investments, LLC (“AWSR”), an entity owned by Lee Roy Mitchell and Tandy Mitchell. In December 2019, FE Concepts opened a family entertainment center that offers bowling, gaming, movies and other amenities. The Company and AWSR each invested approximately $20 and each have a 50% voting interest in FE Concepts. The Company accounts for its investment in FE Concepts under the equity method of accounting. The Company has a theatre services agreement with FE Concepts under which it receives service fees for providing film booking and equipment monitoring services for the facility. The Company recorded $0.1, $0.1 and $0.1 of related service fees during the years ended December 31, 2021, 2022 and 2023, respectively. During the years ended December 31, 2022 and 2023, the Company received cash distributions of $4.0 and $0.0 from FE Concepts. The cash distributions received were recorded as a reduction of the Company’s investment in FE Concepts. Additional Considerations The Company performs a qualitative impairment analysis for each of these equity investments annually during the fourth quarter. Based on the analysis performed, no impairment was recorded for the years ended December 31, 2021, 2022 and 2023

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- Definition The entire disclosure for the information summarizing investments in and advances to majority-owned subsidiaries, other controlled companies, and other affiliates. It reflects specified information about ownership, financial results from, and financial position in such entities. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 320 -Name Accounting Standards Codification -Section S99 -Paragraph 6 -Subparagraph (SX 210.12-14(Column E)(Footnote 6)(b)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480032/946-320-S99-6 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 320 -Name Accounting Standards Codification -Section S99 -Paragraph 6 -Subparagraph (SX 210.12-14(Column E)(Footnote 6)(c)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480032/946-320-S99-6 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 320 -Name Accounting Standards Codification -Section S99 -Paragraph 6 -Subparagraph (SX 210.12-14(Column A)(Footnote 1)(b)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480032/946-320-S99-6 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 946 -SubTopic 320 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//946-320/tableOfContent + Details
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