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Non-Controlling Interests | 6 Months Ended
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Jun. 30, 2023
Temporary Equity Disclosure [Abstract] |
Non-Controlling Interests | 17. Non-Controlling Interests (a) IMAX China Non-Controlling Interest The Company indirectly owns 71.63% of IMAX China, whose shares trade on the Hong Kong Stock Exchange (December 31, 2022 — 71.73%). IMAX China remains a consolidated subsidiary of the Company. As of June 30, 2023, the balance of the Company’s non-controlling interest in IMAX China is $66.2 million (December 31, 2022 — $65.7 million). For the three and six months ended June 30, 2023, the net income attributable to the non-controlling interest in IMAX China is $1.3 million and $3.9 million, respectively, (2022 — net loss of $(1.4) million and net income of $0.3 million, respectively). On July 12, 2023, the Company announced it has filed a proposal to acquire the outstanding shares of IMAX China. (See Note 18 for additional information.) (b) Other Non-Controlling Interest The Company’s Original Film Fund was established in 2014 to co-finance a portfolio of 10 original large-format films. The initial investment in the Original Film Fund was committed by a third party in the amount of $25.0 million, with the possibility of contributing additional funds. The Company has contributed $9.0 million to the Original Film Fund since 2014 and has reached its maximum contribution. As of June 30, 2023, the Original Film Fund has invested $22.3 million toward the development of original films. The related production, financing and distribution agreement includes put and call rights relating to change of control of the rights, title and interest in the co-financed pictures. (c) Non-Controlling Interest in Temporary Equity The following table summarizes the movement of the non-controlling interest in temporary equity related to the Original Film Fund for the six months ended June 30, 2023 and 2022:
|  | June 30, |
(In thousands of U.S. Dollars) |  | 2023 |  |  | 2022 |
Beginning balance |  | $ | 722 |  |  | $ | 758 |
Net income (loss) |  |  | 10 |  |  |  | (16 | )
Ending balance |  | $ | 732 |  |  | $ | 742 |

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- Definition The entire disclosure for noncontrolling interest in consolidated subsidiaries, which could include the name of the subsidiary, the ownership percentage held by the parent, the ownership percentage held by the noncontrolling owners, the amount of the noncontrolling interest, the location of this amount on the balance sheet (when not reported separately), an explanation of the increase or decrease in the amount of the noncontrolling interest, the noncontrolling interest share of the net Income or Loss of the subsidiary, the location of this amount on the income statement (when not reported separately), the nature of the noncontrolling interest such as background information and terms, the amount of the noncontrolling interest represented by preferred stock, a description of the preferred stock, and the dividend requirements of the preferred stock. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -URI https://asc.fasb.org/topic&trid=2197479 + Details
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- References No definition available. + Details
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