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Segments (Tables)

3 Months Ended

Mar. 29, 2026

Segment Reporting [Abstract]

Schedule of Significant Expense Categories Provided to CODM Reconciled to Adjusted EBITDA

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, 2026						March 30, 2025
Net revenues																		$	225,627					$	202,057
Significant expense categories
Cost of food, merchandise and games revenues																		21,291						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 amortization																		107,349						102,330
Loss on retirement of fixed assets, net																		2,435						8,098
Loss on impairment of goodwill and other intangibles																		38,640						—
Loss on disposal group																		27,971						—
Loss on other assets																		—						791
Interest expense, net																		94,928						87,035
Loss on early debt extinguishment																		4,053						—
Non-cash foreign currency loss (gain)																		5,139						(2,214)
Non-cash equity compensation expense																		3,772						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.

Schedule of Long-Lived Assets by Domestic and Foreign Properties

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, 2026						December 31, 2025						March 30, 2025
Domestic			$	6,022,316					$	6,402,553					$	7,870,453
Foreign			832,654						901,365						900,385
Total			$	6,854,970					$	7,303,918					$	8,770,838

Schedule of Net Revenues and Income (Loss) Before Taxes by Domestic and Foreign Properties

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, 2026						March 30, 2025
Net revenues
Domestic															$	200,308					$	181,741
Foreign															25,319						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)

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- Definition

Tabular disclosure of long-lived assets, excluding financial instruments, long-term customer relationships of a financial institution, mortgage rights, deferred policy acquisition costs, and deferred tax assets, by geographic areas located in the entity's country of domicile and foreign countries in which the entity holds assets.

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Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

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