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Revenue Recognition (Tables) | 9 Months Ended
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Sep. 27, 2018
Revenue Recognition [Abstract] |
Disaggregation of Revenue | The disaggregation of revenues by business segment for the 13 and 39 weeks ended September 27, 2018 is as follows (in thousands):
|  | 13 Weeks Ended September 27, 2018 |
|  | Reportable Segment |  |  |  |
|  | Theatres |  |  | Hotels/ Resorts |  |  | Corporate |  |  | Total |
Theatre admissions |  | $ | 52,422 |  |  | $ | – |  |  | $ | – |  |  | $ | 52,422 |
Rooms |  |  | – |  |  |  | 34,467 |  |  |  | – |  |  |  | 34,467 |
Theatre concessions |  |  | 35,476 |  |  |  | – |  |  |  | – |  |  |  | 35,476 |
Food and beverage |  |  | – |  |  |  | 19,333 |  |  |  | – |  |  |  | 19,333 |
Other revenues (1) |  |  | 6,893 |  |  |  | 12,822 |  |  |  | 98 |  |  |  | 19,813 |
Cost reimbursements |  |  | 218 |  |  |  | 8,870 |  |  |  | – |  |  |  | 9,088 |
Total revenues |  | $ | 95,009 |  |  | $ | 75,492 |  |  | $ | 98 |  |  | $ | 170,599 |
|  | 39 Weeks Ended September 27, 2018 |
|  | Reportable Segment |  |  |  |
|  | Theatres |  |  | Hotels/ Resorts |  |  | Corporate |  |  | Total |
Theatre admissions |  | $ | 185,035 |  |  | $ | – |  |  | $ | – |  |  | $ | 185,035 |
Rooms |  |  | – |  |  |  | 84,256 |  |  |  | – |  |  |  | 84,256 |
Theatre concessions |  |  | 123,687 |  |  |  | – |  |  |  | – |  |  |  | 123,687 |
Food and beverage |  |  | – |  |  |  | 53,972 |  |  |  | – |  |  |  | 53,972 |
Other revenues (1) |  |  | 23,591 |  |  |  | 35,453 |  |  |  | 318 |  |  |  | 59,362 |
Cost reimbursements |  |  | 1,084 |  |  |  | 24,692 |  |  |  | – |  |  |  | 25,776 |
Total revenues |  | $ | 333,397 |  |  | $ | 198,373 |  |  | $ | 318 |  |  | $ | 532,088 |
| (1) | Included in other revenues is an immaterial amount related to rental income that is not considered contract revenue from contracts with customers under ASC No. 2014-09.
Schedule of New Accounting Pronouncements and Changes in Accounting Principles | Due to adoption of ASU No. 2014-09, on the first day of fiscal 2018, the Company recorded a one-time cumulative effect adjustment to the balance sheet as follows:
|  | Balance at December 28, 2017 |  |  | Cumulative Adjustment |  |  | Balance at December 29, 2017 |
|  | ( in thousands ) |
Refundable income taxes |  | $ | 15,335 |  |  | $ | 945 |  |  | $ | 16,280 |
Other accrued liabilities |  |  | 53,291 |  |  |  | 3,296 |  |  |  | 56,587 |
Deferred compensation and other |  |  | 56,662 |  |  |  | 217 |  |  |  | 56,879 |
Retained earnings |  |  | 403,206 |  |  |  | (2,568 | ) |  |  | 400,638 |
The adoption of ASU No. 2014-09 had the following effect on our consolidated statement of earnings for the 13 and 39 weeks ended September 27, 2018 (in thousands):
|  | For the 13 Weeks Ended September 27, 2018 |  |  | For the 39 Weeks Ended September 27, 2018 |
|  | As Reported |  |  | ASU No. 2014-09 Impact |  |  | Adjusted (1) |  |  | As Reported |  |  | ASU No. 2014-09 Impact |  |  | Adjusted (1) |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Theatre admissions |  | $ | 52,422 |  |  | $ | (605 | ) |  | $ | 53,027 |  |  | $ | 185,035 |  |  | $ | (1,961 | ) |  | $ | 186,996 |
Theatre concessions |  |  | 35,476 |  |  |  | 503 |  |  |  | 34,973 |  |  |  | 123,687 |  |  |  | 1,467 |  |  |  | 122,220 |
Food and beverage |  |  | 19,333 |  |  |  | 3 |  |  |  | 19,330 |  |  |  | 53,972 |  |  |  | 23 |  |  |  | 53,949 |
Other revenues |  |  | 19,813 |  |  |  | 904 |  |  |  | 18,909 |  |  |  | 59,362 |  |  |  | 3,609 |  |  |  | 55,753 |
Total revenues |  |  | 170,599 |  |  |  | 805 |  |  |  | 169,794 |  |  |  | 532,088 |  |  |  | 3,138 |  |  |  | 528,950 |
Costs and expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Theatre operations |  |  | 48,644 |  |  |  | 165 |  |  |  | 48,479 |  |  |  | 164,452 |  |  |  | 479 |  |  |  | 163,973 |
Theatre concessions |  |  | 10,168 |  |  |  | 159 |  |  |  | 10,009 |  |  |  | 35,105 |  |  |  | 469 |  |  |  | 34,636 |
Advertising and marketing |  |  | 6,178 |  |  |  | (496 | ) |  |  | 6,674 |  |  |  | 17,317 |  |  |  | (1,549 | ) |  |  | 18,866 |
Other operating expenses |  |  | 8,969 |  |  |  | 910 |  |  |  | 8,059 |  |  |  | 27,032 |  |  |  | 3,514 |  |  |  | 23,518 |
Total costs and expenses |  |  | 148,186 |  |  |  | 738 |  |  |  | 147,448 |  |  |  | 463,552 |  |  |  | 2,913 |  |  |  | 460,639 |
Operating income |  |  | 22,413 |  |  |  | 67 |  |  |  | 22,346 |  |  |  | 68,536 |  |  |  | 225 |  |  |  | 68,311 |
Income taxes |  |  | 2,626 |  |  |  | 9 |  |  |  | 2,617 |  |  |  | 12,254 |  |  |  | 48 |  |  |  | 12,206 |
Net earnings attributable to The Marcus Corporation |  |  | 16,231 |  |  |  | 58 |  |  |  | 16,173 |  |  |  | 44,671 |  |  |  | 177 |  |  |  | 44,494 |
| (1) | The amounts reflect each affected financial statement line item as they would have been reported under US GAAP prior to the adoption of ASU No. 2014-09.
The adoption of ASU No. 2014-09 had the following effect on our consolidated balance sheet as of September 27, 2018 (in thousands):
|  | As Reported |  |  | ASU No. 2014-09 Impact |  |  | Adjusted (1) |
Refundable income taxes |  | $ | 3,531 |  |  | $ | 945 |  |  | $ | 2,586 |
Total current assets |  |  | 57,368 |  |  |  | 945 |  |  |  | 56,423 |
Total assets |  |  | 986,686 |  |  |  | 945 |  |  |  | 985,741 |
Other accrued liabilities |  |  | 46,269 |  |  |  | 3,639 |  |  |  | 42,630 |
Total current liabilities |  |  | 120,981 |  |  |  | 3,639 |  |  |  | 117,342 |
Deferred compensation and other |  |  | 59,157 |  |  |  | 99 |  |  |  | 59,058 |
Retained Earnings |  |  | 433,022 |  |  |  | (2,793 | ) |  |  | 435,815 |
Shareholders’ equity attributable to The Marcus Corporation |  |  | 482,931 |  |  |  | (2,793 | ) |  |  | 485,724 |
Total equity |  |  | 483,036 |  |  |  | (2,793 | ) |  |  | 485,829 |
Total liabilities and shareholders’ equity |  |  | 986,686 |  |  |  | 945 |  |  |  | 985,741 |
| (1) | The amounts reflect each affected financial statement line item as they would have been reported under US GAAP prior to the adoption of ASU No. 2014-09.

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