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Revenue from Contracts with Customers | 6 Months Ended
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Jun. 30, 2023
Revenue from Contract with Customer [Abstract] |
Revenue from Contracts with Customers | 12. Revenue from Contracts with Customers (a) Disaggregated Information About Revenue In the first quarter of 2023, the Company updated its reportable segments (see Note 13). Prior period comparatives have been revised to conform with the current period presentation. The following tables summarize the Company’s Revenues by reportable segment and revenue stream type for the three and six months ended June 30, 2023 and 2022:
| Three Months Ended June 30, 2023 |
(In thousands of U.S. Dollars) | Technology Sales |  |  | Image Enhancement and Maintenance Services |  |  | Technology Rentals |  |  | Finance Income |  |  |  | Total |
Content Solutions Segment |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Film Remastering and Distribution | $ |  | — |  |  | $ |  | 29,219 |  |  | $ |  | — |  |  | $ |  | — |  |  | $ |  | 29,219 |
Other Content Solutions |  |  | — |  |  |  |  | 2,071 |  |  |  |  | — |  |  |  |  | — |  |  |  |  | 2,071 |
|  |  | — |  |  |  |  | 31,290 |  |  |  |  | — |  |  |  |  | — |  |  |  |  | 31,290 |
Technology Products and Services Segment |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
System Sales |  |  | 27,734 |  |  |  |  | — |  |  |  |  | — |  |  |  |  | — |  |  |  |  | 27,734 |
System Rentals |  |  | — |  |  |  |  | — |  |  |  |  | 19,546 |  |  |  |  | — |  |  |  |  | 19,546 |
Maintenance |  |  | — |  |  |  |  | 14,490 |  |  |  |  | — |  |  |  |  | — |  |  |  |  | 14,490 |
Finance Income |  |  | — |  |  |  |  | — |  |  |  |  | — |  |  |  |  | 2,206 |  |  |  |  | 2,206 |
|  |  | 27,734 |  |  |  |  | 14,490 |  |  |  |  | 19,546 |  |  |  |  | 2,206 |  |  |  |  | 63,976 |
Sub-total for reportable segments |  |  | 27,734 |  |  |  |  | 45,780 |  |  |  |  | 19,546 |  |  |  |  | 2,206 |  |  |  |  | 95,266 |
All Other |  |  | 1,626 |  |  |  |  | 1,087 |  |  |  |  | — |  |  |  |  | — |  |  |  |  | 2,713 |
Total | $ |  | 29,360 |  |  | $ |  | 46,867 |  |  | $ |  | 19,546 |  |  | $ |  | 2,206 |  |  | $ |  | 97,979 |
| Six Months Ended June 30, 2023 |
(In thousands of U.S. Dollars) | Technology Sales |  |  | Image Enhancement and Maintenance Services |  |  | Technology Rentals |  |  | Finance Income |  |  |  | Total |
Content Solutions Segment |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Film Remastering and Distribution | $ |  | — |  |  | $ |  | 59,292 |  |  | $ |  | — |  |  | $ |  | — |  |  | $ |  | 59,292 |
Other Content Solutions |  |  | — |  |  |  |  | 4,099 |  |  |  |  | — |  |  |  |  | — |  |  |  |  | 4,099 |
|  |  | — |  |  |  |  | 63,391 |  |  |  |  | — |  |  |  |  | — |  |  |  |  | 63,391 |
Technology Products and Services Segment |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
System Sales |  |  | 43,853 |  |  |  |  | — |  |  |  |  | — |  |  |  |  | — |  |  |  |  | 43,853 |
System Rentals |  |  | — |  |  |  |  | — |  |  |  |  | 39,604 |  |  |  |  | — |  |  |  |  | 39,604 |
Maintenance |  |  | — |  |  |  |  | 28,041 |  |  |  |  | — |  |  |  |  | — |  |  |  |  | 28,041 |
Finance Income |  |  | — |  |  |  |  | — |  |  |  |  | — |  |  |  |  | 4,145 |  |  |  |  | 4,145 |
|  |  | 43,853 |  |  |  |  | 28,041 |  |  |  |  | 39,604 |  |  |  |  | 4,145 |  |  |  |  | 115,643 |
Sub-total for reportable segments |  |  | 43,853 |  |  |  |  | 91,432 |  |  |  |  | 39,604 |  |  |  |  | 4,145 |  |  |  |  | 179,034 |
All Other |  |  | 3,329 |  |  |  |  | 2,562 |  |  |  |  | — |  |  |  |  | — |  |  |  |  | 5,891 |
Total | $ |  | 47,182 |  |  | $ |  | 93,994 |  |  | $ |  | 39,604 |  |  | $ |  | 4,145 |  |  | $ |  | 184,925 |
| Three Months Ended June 30, 2022 |
(In thousands of U.S. Dollars) | Technology Sales |  |  | Image Enhancement and Maintenance Services |  |  | Technology Rentals |  |  | Finance Income |  |  |  | Total |
Content Solutions Segment |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Film Remastering and Distribution | $ |  | — |  |  | $ |  | 27,581 |  |  | $ |  | — |  |  | $ |  | — |  |  | $ |  | 27,581 |
Other Content Solutions |  |  | — |  |  |  |  | 1,963 |  |  |  |  | — |  |  |  |  | — |  |  |  |  | 1,963 |
|  |  | — |  |  |  |  | 29,544 |  |  |  |  | — |  |  |  |  | — |  |  |  |  | 29,544 |
Technology Products and Services Segment |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
System Sales |  |  | 7,393 |  |  |  |  | — |  |  |  |  | — |  |  |  |  | — |  |  |  |  | 7,393 |
System Rentals |  |  | — |  |  |  |  | — |  |  |  |  | 18,525 |  |  |  |  | — |  |  |  |  | 18,525 |
Maintenance |  |  | — |  |  |  |  | 14,683 |  |  |  |  | — |  |  |  |  | — |  |  |  |  | 14,683 |
Finance Income |  |  | — |  |  |  |  | — |  |  |  |  | — |  |  |  |  | 2,256 |  |  |  |  | 2,256 |
|  |  | 7,393 |  |  |  |  | 14,683 |  |  |  |  | 18,525 |  |  |  |  | 2,256 |  |  |  |  | 42,857 |
Sub-total for reportable segments |  |  | 7,393 |  |  |  |  | 44,227 |  |  |  |  | 18,525 |  |  |  |  | 2,256 |  |  |  |  | 72,401 |
All Other |  |  | 836 |  |  |  |  | 731 |  |  |  |  | — |  |  |  |  | — |  |  |  |  | 1,567 |
Total | $ |  | 8,229 |  |  | $ |  | 44,958 |  |  | $ |  | 18,525 |  |  | $ |  | 2,256 |  |  | $ |  | 73,968 |
| Six Months Ended June 30, 2022 |
(In thousands of U.S. Dollars) | Technology Sales |  |  | Image Enhancement and Maintenance Services |  |  | Technology Rentals |  |  | Finance Income |  |  |  | Total |
Content Solutions Segment |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Film Remastering and Distribution | $ |  | — |  |  | $ |  | 47,145 |  |  | $ |  | — |  |  | $ |  | — |  |  | $ |  | 47,145 |
Other Content Solutions |  |  | — |  |  |  |  | 3,369 |  |  |  |  | 18 |  |  |  |  | — |  |  |  |  | 3,387 |
|  |  | — |  |  |  |  | 50,514 |  |  |  |  | 18 |  |  |  |  | — |  |  |  |  | 50,532 |
Technology Products and Services Segment |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
System Sales |  |  | 15,366 |  |  |  |  | — |  |  |  |  | — |  |  |  |  | — |  |  |  |  | 15,366 |
System Rentals |  |  | — |  |  |  |  | — |  |  |  |  | 31,168 |  |  |  |  | — |  |  |  |  | 31,168 |
Maintenance |  |  | — |  |  |  |  | 29,625 |  |  |  |  | — |  |  |  |  | — |  |  |  |  | 29,625 |
Finance Income |  |  | — |  |  |  |  | — |  |  |  |  | — |  |  |  |  | 4,561 |  |  |  |  | 4,561 |
|  |  | 15,366 |  |  |  |  | 29,625 |  |  |  |  | 31,168 |  |  |  |  | 4,561 |  |  |  |  | 80,720 |
Sub-total for reportable segments |  |  | 15,366 |  |  |  |  | 80,139 |  |  |  |  | 31,186 |  |  |  |  | 4,561 |  |  |  |  | 131,252 |
All Other |  |  | 1,839 |  |  |  |  | 913 |  |  |  |  | — |  |  |  |  | — |  |  |  |  | 2,752 |
Total | $ |  | 17,205 |  |  | $ |  | 81,052 |  |  | $ |  | 31,186 |  |  | $ |  | 4,561 |  |  | $ |  | 134,004 |
For the three and six months ended June 30, 2023, revenues earned from Technology Sales include variable consideration of $11.8 million and $17.3 million, respectively (2022 — $0.9 million and $1.3 million, respectively). Variable consideration revenues represent an estimate of the contingent fees that may become due if certain annual minimum box office receipt thresholds are exceeded and are recorded as revenue in the period when the sale is recognized and may be adjusted in future periods based on actual results and changes in estimates over the term of the system agreement. For the three and six months ended June 30, 2023, revenues earned from leasing arrangements total $20.4 million and $42.8 million (2022 — $19.1 million and $32.7 million, respectively), including $19.5 million and $39.6 million, respectively, in Revenues ― Technology Rentals (2022 — $18.5 million and $31.2 million, respectively), and $0.9 million and $3.2 million, respectively, in Revenues ― Technology Sales (2022 — $0.6 million and $1.6 million, respectively). (b) Deferred Revenue IMAX System sale and lease arrangements include a requirement for the Company to provide maintenance services over the life of the arrangement, some of which are subject to a consumer price index adjustment each year. In circumstances where customers prepay the entire term’s maintenance fee based on the original arrangement, additional payments are due to the Company for the years after its extended warranty and maintenance obligations expire. Payments, upon renewal each year, are either prepaid or made in arrears and can vary in frequency from monthly to annually. As of June 30, 2023, $19.6 million of consideration has been deferred in relation to outstanding maintenance services to be provided on existing maintenance contracts (December 31, 2022 — $21.0 million). Maintenance revenue is recognized evenly over the contract term which coincides with the period over which maintenance services are provided. In the event of customer default, any payments made by the customer may be retained by the Company. In instances where the Company receives consideration prior to satisfying its performance obligations, the recognition of revenue is deferred. The majority of the deferred revenue balance relates to payments received by the Company for IMAX Systems where control of the system has not yet transferred to the customer. The deferred revenue balance related to an individual IMAX System increases as progress payments are made and is then derecognized when control of the system is transferred to the customer. Recognition dates are variable and depend on numerous factors, including some outside of the Company’s control. During the three and six months ended June 30, 2023, $23.7 million and $41.0 million of revenue, respectively, was recognized that was included in the $70.9 million balance of deferred revenue as of December 31, 2022 . During the three and six months ended June 30, 2022, $14.4 million and $31.2 million of revenue, respectively, was recognized that was included in the $81.3 million balance of deferred revenue as of December 31, 2021.

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -URI https://asc.fasb.org/topic&trid=49130388 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 10 -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130551-203045 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (b)(2) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130556-203045 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 9 -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130550-203045 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 15 -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130558-203045 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 + Details
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