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Impairment of Long-Lived Assets | 6 Months Ended
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Jun. 30, 2024
Impairment or Disposal of Tangible Assets Disclosure [Abstract] |
Impairment of Long-Lived Assets | 12. Impairment of Long-Lived Assets The Company performed a qualitative impairment analysis on its long-lived assets, including theatre properties and right of-use assets, goodwill and tradename intangible assets as of June 30, 2024. As a result of the qualitative assessment, the Company noted no impairment indicators related to these assets as of June 30, 2024. The qualitative impairment analysis, by asset class, is described below: • Theatre Properties and Right-of-Use-Assets - Considers relevant industry, economic and market conditions, industry trading multiples and recent developments that would impact the Company’s estimates of future theatre-level cash flows, which are the primary estimate of fair market value, at the theatre level compared with the most recent quantitative impairment assessment. • Goodwill – Considers economic and market conditions, industry trading multiples and the impact of recent developments that would impact the estimated fair values as determined in the most recent quantitative assessment. • Tradename Intangible Assets – Considers industry and market conditions and recent developments that may impact the revenue forecasts and other estimates as compared with the most recent quantitative assessment. See Note 1 and Note 12 to the consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023, filed February 16, 2024, for further discussion of the Company’s impairment policy and a description of the qualitative and quantitative impairment assessments performed. There were no impairment charges recorded for long-lived assets, goodwill and intangible assets for the three and six months ended June 30, 2024. The following table summarizes the Company’s impairment charges for the three and six months ended June 30, 2023.
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
|  | 2023 |  |  | 2023 |
U.S. Segment |  |  |  |  |  |
Theatre properties |  | $ | 3.9 |  |  | $ | 3.9 |
Theatre operating lease right-of-use assets |  |  | 3.4 |  |  |  | 3.4 |
Investment in NCMI/NCM |  |  | — |  |  |  | 0.7 |
U.S. total |  |  | 7.3 |  |  |  | 8.0 |
International segment |  |  |  |  |  |
Theatre properties |  |  | 0.6 |  |  |  | 0.6 |
Theatre operating lease right-of-use assets |  |  | 1.5 |  |  |  | 1.5 |
International total |  |  | 2.1 |  |  |  | 2.1 |
Total Impairment |  | $ | 9.4 |  |  | $ | 10.1 |

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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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