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Current Expected Credit Losses (Tables)

9 Months Ended

Sep. 30, 2021

Summary of Allowance For Credit Losses Related to Accounts Receivable

The following tables summarize the activity in the Allowance for Credit Losses related to Accounts Receivable for the three and nine months ended September 30, 2021 and 2020:

	Three Months Ended September 30, 2021												Nine Months Ended September 30, 2021
(In thousands of U.S. Dollars)	Theater Operators			Studios			Other			Total			Theater Operators			Studios			Other			Total
Beginning balance	$	8,597		$	2,517		$	1,192		$	12,306		$	8,368		$	4,481		$	1,446		$	14,295
Current period reversal, net		(489	)		(251	)		(24	)		(764	)		(111	)		(1,928	)		(269	)		(2,308	)
Write-offs		(43	)		(270	)		—			(313	)		(278	)		(522	)		—			(800	)
Foreign exchange		(89	)		2			—			(87	)		(3	)		(33	)		(9	)		(45	)
Ending balance	$	7,976		$	1,998		$	1,168		$	11,142		$	7,976		$	1,998		$	1,168		$	11,142

	Three Months Ended September 30, 2020												Nine Months Ended September 30, 2020
(In thousands of U.S. Dollars)	Theater Operators			Studios			Other			Total			Theater Operators			Studios			Other			Total
Beginning balance	$	6,317		$	5,455		$	838		$	12,610		$	3,302		$	893		$	942		$	5,137
Current period provision (reversal), net		1,623			(262	)		468			1,829			4,718			4,424			364			9,506
Write-offs		(614	)		—			—			(614	)		(614	)		—			—			(614	)
Foreign exchange		133			184			(9	)		308			53			60			(9	)		104
Ending balance	$	7,459		$	5,377		$	1,297		$	14,133		$	7,459		$	5,377		$	1,297		$	14,133

Schedule of Financing Receivables

As of September 30, 2021 and December 31, 2020, financing receivables consist of the following:

	September 30,			December 31,
(In thousands of U.S. Dollars)	2021			2020
Net investment in leases
Gross minimum payments due under sales-type leases	$	23,284		$	20,830
Unearned finance income		(788	)		(859	)
Present value of minimum payments due under sales-type leases		22,496			19,971
Allowance for credit losses		(494	)		(557	)
Net investment in leases		22,002			19,414
Financed sales receivables
Gross minimum payments due under financed sales		150,964			150,917
Unearned finance income		(32,199	)		(31,247	)
Present value of minimum payments due under financed sales		118,765			119,670
Allowance for credit losses		(5,565	)		(7,274	)
Net financed sales receivables		113,200			112,396
Total financing receivables	$	135,202		$	131,810

Net financed sales receivables due within one year	$	32,154		$	34,937
Net financed sales receivables due after one year		81,046			77,459
Total financed sales receivables	$	113,200		$	112,396

Schedule of Weighted-average Remaining Lease Term and Weighted-average Interest Rate

As of September 30, 2021 and December 31, 2020, the weighted-average remaining lease term and weighted-average interest rate associated with the Company’s sales-type lease arrangements and financed sale receivables, as applicable, are as follows:

	September 30,			December 31,
	2021			2020
Weighted-average remaining lease term (in years)
Sales-type lease arrangements		9.0			8.3
Weighted-average interest rate
Sales-type lease arrangements		6.55	%		6.56	%
Financed sales receivables		8.75	%		8.92	%

Schedule of Net Investment In Leases by Credit Quality Indicator

The tables below provide information on the Company’s net investment in leases by credit quality indicator as of September 30, 2021 and December 31, 2020. The amounts disclosed for each credit quality classification are determined on a customer-by-customer basis and include both billed and unbilled amounts.

(In thousands of U.S. Dollars)	By Origination Year
As of September 30, 2021	2021		2020		2019		2018		2017		Prior		Total
Net investment in leases:
Credit quality classification:
In good standing	$	959	$	2,747	$	2,245	$	—	$	—	$	1,150	$	7,101
Credit Watch		3,374		1,251		5,650		2,533		881		863		14,552
Pre-approved transactions		—		—		—		—		—		—		—
Transactions suspended		—		—		—		—		—		843		843
Total net investment in leases	$	4,333	$	3,998	$	7,895	$	2,533	$	881	$	2,856	$	22,496

(In thousands of U.S. Dollars)	By Origination Year
As of December 31, 2020	2020		2019		2018		2017		2016		Prior		Total
Net investment in leases:
Credit quality classification:
In good standing	$	2,143	$	1,190	$	2,730	$	—	$	—	$	1,826	$	7,889
Credit Watch		2,005		7,278		—		988		—		1,047		11,318
Pre-approved transactions		—		—		—		—		—		—		—
Transactions suspended		—		—		—		—		—		764		764
Total net investment in leases	$	4,148	$	8,468	$	2,730	$	988	$	—	$	3,637	$	19,971

Schedule of Financed Sale Receivables by Credit Quality Indicator

The tables below provide information on the Company’s financed sale receivables by credit quality indicator as of September 30, 2021 and December 31, 2020. The amounts disclosed for each credit quality classification are determined on a customer-by-customer basis and include both billed and unbilled amounts.

(In thousands of U.S. Dollars)	By Origination Year
As of September 30, 2021	2021		2020		2019		2018		2017		Prior		Total
Financed sales receivables:
Credit quality classification:
In good standing	$	6,311	$	4,414	$	5,733	$	3,831	$	5,890	$	17,830	$	44,009
Credit Watch		1,911		4,108		6,046		9,847		7,733		35,739		65,384
Pre-approved transactions		—		—		—		309		1,420		2,285		4,014
Transactions suspended		—		—		—		—		1,315		4,043		5,358
Total financed sales receivables	$	8,222	$	8,522	$	11,779	$	13,987	$	16,358	$	59,897	$	118,765

(In thousands of U.S. Dollars)	By Origination Year
As of December 31, 2020	2020		2019		2018		2017		2016		Prior		Total
Financed sales receivables:
Credit quality classification:
In good standing	$	6,830	$	5,480	$	3,547	$	3,740	$	5,072	$	12,660	$	37,329
Credit Watch		1,986		6,501		11,356		12,520		11,446		34,351		78,160
Pre-approved transactions		—		—		—		—		613		755		1,368
Transactions suspended		—		—		—		987		728		1,098		2,813
Total financed sales receivables	$	8,816	$	11,981	$	14,903	$	17,247	$	17,859	$	48,864	$	119,670

Schedule of Aging Analysis for Net Investment in Leases and Financed Sale Receivables

The following tables provide an aging analysis for the Company’s net investment in leases and financed sale receivables as of September 30, 2021 and December 31, 2020:

	As of September 30, 2021
(In thousands of U.S. Dollars)	Accrued and Current		30-89 Days		90+ Days		Billed		Unbilled		Recorded Receivable		Allowance for Credit Losses			Net
Net investment in leases	$	221	$	149	$	876	$	1,246	$	21,250	$	22,496	$	(494	)	$	22,002
Financed sales receivables		1,989		1,748		10,207		13,944		104,821		118,765		(5,565	)		113,200
Total	$	2,210	$	1,897	$	11,083	$	15,190	$	126,071	$	141,261	$	(6,059	)	$	135,202

	As of December 31, 2020
(In thousands of U.S. Dollars)	Accrued and Current		30-89 Days		90+ Days		Billed		Unbilled		Recorded Receivable		Allowance for Credit Losses			Net
Net investment in leases	$	298	$	180	$	689	$	1,167	$	18,804	$	19,971	$	(557	)	$	19,414
Financed sales receivables		3,307		1,943		10,699		15,949		103,721		119,670		(7,274	)		112,396
Total	$	3,605	$	2,123	$	11,388	$	17,116	$	122,525	$	139,641	$	(7,831	)	$	131,810

Schedule of Net Investment in Leases and Financed Sale Receivables with Billed Amounts Past Due Continues to Accrue Finance Income

The following table provides information about the Company’s net investment in leases and financed sale receivables with billed amounts past due for which it continues to accrue finance income as of September 30, 2021 and December 31, 2020. The amounts disclosed for each credit quality classification are determined on a customer-by-customer basis and include both billed and unbilled amounts.

	As of September 30, 2021
(In thousands of U.S. Dollars)	Accrued and Current		30-89 Days		90+ Days		Billed		Unbilled		Allowance for Credit Losses			Net
Net investment in leases	$	180	$	144	$	458	$	782	$	13,770	$	(248	)	$	14,304
Financed sales receivables		1,152		1,083		8,286		10,521		51,756		(2,870	)		59,407
Total	$	1,332	$	1,227	$	8,744	$	11,303	$	65,526	$	(3,118	)	$	73,711

	As of December 31, 2020
(In thousands of U.S. Dollars)	Accrued and Current		30-89 Days		90+ Days		Billed		Unbilled		Allowance for Credit Losses			Net
Net investment in leases	$	231	$	162	$	359	$	752	$	13,912	$	(310	)	$	14,354
Financed sales receivables		2,026		1,551		10,249		13,826		62,602		(4,434	)		71,994
Total	$	2,257	$	1,713	$	10,608	$	14,578	$	76,514	$	(4,744	)	$	86,348

Schedule of Net Investment in Leases and Financed Sale Receivables on Nonaccrual Status

The following table provides information about the Company’s net investment in leases and financed sale receivables that are on nonaccrual status as of September 30, 2021 and December 31, 2020:

	As of September 30, 2021							As of December 31, 2020
(In thousands of U.S. Dollars)	Recorded Receivable		Allowance for Credit Losses			Net			Recorded Receivable		Allowance for Credit Losses			Net
Net investment in leases	$	843	$	(16	)	$	827		$	764	$	(18	)	$	746
Net financed sales receivables		6,158		(1,276	)		4,882			2,813		(1,482	)		1,331
Total	$	7,001	$	(1,292	)	$	5,709		$	3,577	$	(1,500	)	$	2,077

Summary of Allowance for Credit Losses Related to Net Investment in Leases and Financed Sale Receivables

The following tables summarize the activity in the allowance for credit losses related to the Company’s net investment in leases and financed sale receivables for the three and nine months ended September 30, 2021 and 2020:

	Three Months Ended September 30, 2021						Nine Months Ended September 30, 2021
	Net Investment			Financed			Net Investment			Financed
(In thousands of U.S. Dollars)	in Leases			Sales Receivables			in Leases			Sales Receivables
Beginning balance	$	579		$	7,113		$	557		$	7,274
Current period reversal, net		(84	)		(1,536	)		(64	)		(1,741	)
Foreign exchange		(1	)		(12	)		1			32
Ending balance	$	494		$	5,565		$	494		$	5,565

	Three Months Ended September 30, 2020						Nine Months Ended September 30, 2020
	Net Investment			Net Financed			Net Investment			Net Financed
(In thousands of U.S. Dollars)	in Leases			Sales Receivables			in Leases			Sales Receivables
Beginning balance	$	459		$	3,709		$	155		$	915
Current period provision		105			1,201			409			4,014
Write-offs		(69	)		(330	)		(69	)		(330	)
Foreign exchange		9			63			9			44
Ending balance	$	504		$	4,643		$	504		$	4,643

Summary of Allowance For Credit Losses Related to Variable Consideration Receivables

The following table summarizes the activity in the Allowance for Credit Losses related to Variable Consideration Receivables for the three and nine months ended September 30, 2021 and 2020:

	Three Months Ended September 30,					Nine Months Ended September 30,
	2021			2020		2021			2020
(In thousands of U.S. Dollars)	Theater Operators			Theater Operators		Theater Operators			Theater Operators
Beginning balance	$	2,028		$	863	$	1,887		$	—
Current period (reversal) provision, net		(933	)		790		(771	)		1,653
Foreign Exchange		(1	)		6		(22	)		6
Ending balance	$	1,094		$	1,659	$	1,094		$	1,659