XML 49 R37.htm IDEA: XBRL DOCUMENT
v3.23.1

Financial Instruments (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2023
Derivative Instruments Gain Loss [Line Items] |
Fair Value of Financial Instruments | The carrying values of the Company’s Cash and Cash Equivalents, Accounts Receivable, Accounts Payable and Accrued Liabilities due within one year approximate their fair values due to the short-term maturity of these instruments. Including these instruments, the Company’s financial instruments consist of the following:
|  | As of March 31, 2023 |  |  | As of December 31, 2022 |
(In thousands of U.S. Dollars) |  | Carrying Amount |  |  | Estimated Fair Value |  |  | Carrying Amount |  |  | Estimated Fair Value |
Level 1 |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents(1) |  | $ | 99,246 |  |  | $ | 99,246 |  |  | $ | 97,401 |  |  | $ | 97,401 |
Equity securities(2) |  |  | 1,050 |  |  |  | 1,050 |  |  |  | 1,035 |  |  |  | 1,035 |
Level 2 |  |  |  |  |  |  |  |  |  |  |  |
Net financed sales receivables(3) |  | $ | 100,425 |  |  | $ | 96,801 |  |  | $ | 101,052 |  |  | $ | 100,059 |
Net investment in sales-type leases(3) |  |  | 30,762 |  |  |  | 30,716 |  |  |  | 28,332 |  |  |  | 27,972 |
Equity securities(1) |  |  | 1,000 |  |  |  | 1,000 |  |  |  | 1,000 |  |  |  | 1,000 |
COLI(4) |  |  | 3,428 |  |  |  | 3,428 |  |  |  | 3,398 |  |  |  | 3,398 |
Foreign exchange contracts — designated forwards(2) |  |  | (176 | ) |  |  | (176 | ) |  |  | (649 | ) |  |  | (649 | )
Wells Fargo Credit Facility borrowings(1) |  |  | (20,000 | ) |  |  | (20,000 | ) |  |  | (25,000 | ) |  |  | (25,000 | )
HSBC China Facility borrowings(1) |  |  | (12,165 | ) |  |  | (12,165 | ) |  |  | (12,496 | ) |  |  | (12,496 | )
Bank of China Facility borrowings(1) |  |  | (379 | ) |  |  | (379 | ) |  |  | (374 | ) |  |  | (374 | )
Federal Economic Development Loan(3) |  |  | (2,043 | ) |  |  | (2,043 | ) |  |  | (1,782 | ) |  |  | (1,782 | )
Convertible Notes(5) |  |  | (230,000 | ) |  |  | (218,210 | ) |  |  | (230,000 | ) |  |  | (196,717 | )
Level 3 |  |  |  |  |  |  |  |  |  |  |  |
Interest in film classified as a financial instrument(6) |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
(1) Recorded at cost, which approximates fair value. (2) Fair value is determined using quoted prices in active markets. (3) Fair value is estimated based on discounting future cash flows at currently available interest rates with comparable terms. (4) Measured at cash surrender value, which approximates fair value. (5) Fair value is determined using quoted market prices that are observable in the market or that could be derived from observable market data. (6) Recorded at amortized cost less impairment losses. Inputs used in the calculation of estimated fair value include management’s projection of future box office and ancillary receipts for the film net of distribution costs and other costs in accordance with the investment agreement. See 15(e) below.
Fair Value of Foreign Exchange Contracts | The following tabular disclosures reflect the impact that derivative instruments and hedging activities have on the Company’s Condensed Consolidated Financial Statements: Fair value of derivatives in foreign exchange contracts:
|  |  |  | March 31, |  |  | December 31, |
(In thousands of U.S. Dollars) |  | Balance Sheet Location |  | 2023 |  |  | 2022 |
Derivatives designated as hedging instruments: |  |  |  |  |  |  |  |
Foreign exchange contracts — Forwards |  | Other assets |  | $ | 193 |  |  | $ | 50 |
|  | Accrued and other liabilities |  |  | (369 | ) |  |  | (699 | )
|  |  |  | $ | (176 | ) |  | $ | (649 | )
Derivatives in Foreign Currency Hedging Relationships | The following tabular disclosures reflect the impact that derivative instruments and hedging activities have on the Company’s Condensed Consolidated Financial Statements: Derivatives in foreign currency hedging relationships are as follows:
|  |  |  | Three Months Ended March 31, |
(In thousands of U.S. Dollars) |  |  |  | 2023 |  |  | 2022 |
Foreign exchange contracts |  | Derivative Gain |  |  |  |  |  |
— Forwards |  | Recognized in OCI |  |  |  |  |  |
|  | (Effective Portion) |  | $ | 134 |  |  | $ | 315 |
|  | Location of Derivative Loss |  |  |  |  |  |
|  | Reclassified from AOCI |  | Three Months Ended March 31, |
(In thousands of U.S. Dollars) |  | (Effective Portion) |  | 2023 |  |  | 2022 |
Foreign exchange contracts |  | Selling, general and |  |  |  |  |  |
— Forwards |  | administrative expenses |  | $ | (339 | ) |  | $ | (29 | )

X
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details
Name: | us-gaap_DerivativeInstrumentsGainLossLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueAssetsMeasuredOnNonrecurringBasisTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4E -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5624181-113959 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5618551-113959 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5624171-113959 + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of derivative instruments (including nonderivative instruments that are designated and qualify as hedging instruments) of (a) the location and amount of gains and losses reported in the statement of financial performance and (b) the location and fair value amounts of the instruments reported in the statement of financial position. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5618551-113959 + Details
Name: | us-gaap_ScheduleOfDerivativesInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration