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Segments
 3 Months Ended
Mar. 29, 2026
Segment Reporting [Abstract]  
Segments Segments:
The Company generates revenues from sales of (1) admission to amusement parks and water parks, (2) food, merchandise and games both inside and outside the parks, and (3) accommodations, extra-charge products, and other revenue sources. The Company's principal costs and expenses, which include salaries and wages, operating and maintenance supplies, insurance, advertising, utilities and lease payments, are relatively fixed for a typical operating season and do not vary significantly with attendance.

Management reviews operating results, evaluates performance and makes operating decisions, including allocating resources, on a park-by-park basis. Discrete financial information and operating results are prepared at the individual park level for use by the CEO, who is the Chief Operating Decision Maker ("CODM"). All of the parks provide similar products and services through a similar process to the same class of customer utilizing a consistent method. In addition, the parks share common economic characteristics, in that they show similar long-term growth trends in key industry metrics such as attendance, per capita spending, net revenue, operating margin and operating profit. Based on these factors, the Company has combined its operating segments, which consist of each of the parks' locations, and operates within a single reportable segment of amusement and water parks with accompanying resort facilities.

Adjusted EBITDA is the measure of segment profit or loss used by the CODM to assess park-level operating profitability and to determine resource allocation, including the allocation of capital expenditures. The CODM's analysis includes comparisons to prior period results and budgeted and forecasted results. Adjusted EBITDA represents earnings before interest, taxes, depreciation, amortization, other non-cash items, and adjustments as defined in the Company's 2024 Credit Agreement, as amended, less net income attributable to non-controlling interests. The table below provides a summary of significant expense categories regularly provided to the CODM reconciled to Adjusted EBITDA, as well as a reconciliation of Adjusted EBITDA to loss
before taxes, for the periods presented. The CODM does not review segment assets at a different asset level or category than those disclosed within the unaudited consolidated balance sheets.
Three months ended
(In thousands)March 29, 2026March 30, 2025
Net revenues$225,627 $202,057 
Significant expense categories
Cost of food, merchandise and games revenues21,291 20,498 
Other revenue driven costs (1)9,526 9,617 
Labor (2)156,673 171,989 
Other segment expenses (3)161,176 170,743 
Adjusted EBITDA(123,039)(170,790)
Add: Net income attributable to non-controlling interests— — 
Subtract:
Depreciation and amortization107,349 102,330 
Loss on retirement of fixed assets, net2,435 8,098 
Loss on impairment of goodwill and other intangibles38,640 — 
Loss on disposal group27,971 — 
Loss on other assets— 791 
Interest expense, net94,928 87,035 
Loss on early debt extinguishment4,053 — 
Non-cash foreign currency loss (gain)5,139 (2,214)
Non-cash equity compensation expense3,772 17,076 
Costs related to the Mergers (4)
4,914 15,640 
Other (5)
4,723 6,932 
Loss before taxes$(416,963)$(406,478)
(1)Consists of credit card fees, royalties and other revenue processing costs driven by sales volume.
(2)Consists of wages, benefits and employer taxes on an Adjusted EBITDA basis.
(3)Consists of all other expenses on an Adjusted EBITDA basis, including the cost of operating and maintenance supplies, insurance, advertising, utilities and lease payments, as well as net income attributable to non-controlling interests.
(4)Consists of integration costs related to the Mergers, including third-party consulting costs, costs to integrate information technology systems, integration team salaries and benefits, retention bonuses, maintenance costs to update Former Six Flags parks to Cedar Fair standards and certain legal costs. These costs are added back to net loss to calculate Adjusted EBITDA as defined in the Company's credit agreement.
(5)Consists of certain costs as defined in the Company's credit agreement. These costs are added back to net loss to calculate Adjusted EBITDA and include certain legal and consulting expenses; severance costs; cost of goods sold recorded to align inventory standards following the Mergers; certain costs at a combined amusement and water park located in Bowie, Maryland since its closure; Mexican VAT taxes on intercompany activity; and contract termination costs. This balance also includes unrealized gains and losses on pension assets and short-term investments.

All of the Company's parks are located in the United States with the exception of two parks in Mexico and two parks in Canada. The Company also recognizes revenue and expense related to the development of Six Flags-branded parks outside of North America. These management fees are disclosed as "Domestic" within the below tables.

As of March 29, 2026, December 31, 2025 and March 30, 2025, long-lived assets (which consists of property and equipment, goodwill, intangible assets and right-of-use assets) by domestic and foreign properties was as follows. The balances as of March 29, 2026 were reduced by assets held for sale.
(In thousands)March 29, 2026December 31, 2025March 30, 2025
Domestic$6,022,316 $6,402,553 $7,870,453 
Foreign832,654 901,365 900,385 
Total$6,854,970 $7,303,918 $8,770,838 
For the three months ended March 29, 2026 and March 30, 2025, net revenues and loss before taxes by domestic and foreign properties were as follows:
 Three months ended
(In thousands)March 29, 2026March 30, 2025
Net revenues
Domestic$200,308 $181,741 
Foreign25,319 20,316 
Total$225,627 $202,057 
Loss before taxes
Domestic$(379,441)$(391,941)
Foreign(37,522)(14,537)
Total$(416,963)$(406,478)