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v3.19.1

General (Tables) | 3 Months Ended
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Mar. 28, 2019
Accounting Policies [Abstract] |
Schedule of Earnings Per Share, Basic and Diluted | The following table illustrates the computation of Common Stock and Class B Common Stock basic and diluted net earnings per share for net earnings and provides a reconciliation of the number of weighted-average basic and diluted shares outstanding:
|  | 13 Weeks Ended |
|  | March 28, 2019 |  |  | March 29, 2018 |
|  | (in thousands, except per share data) |
Numerator: |  |  |  |  |  |  |  |
Net earnings attributable to The Marcus Corporation |  | $ | 1,860 |  |  | $ | 9,821 |
Denominator: |  |  |  |  |  |  |  |
Denominator for basic EPS |  |  | 29,883 |  |  |  | 27,895 |
Effect of dilutive employee stock options |  |  | 616 |  |  |  | 539 |
Denominator for diluted EPS |  |  | 30,499 |  |  |  | 28,434 |
Net earnings per share - basic: |  |  |  |  |  |  |  |
Common Stock |  | $ | 0.06 |  |  | $ | 0.36 |
Class B Common Stock |  | $ | 0.06 |  |  | $ | 0.33 |
Net earnings per share - diluted: |  |  |  |  |  |  |  |
Common Stock |  | $ | 0.06 |  |  | $ | 0.35 |
Class B Common Stock |  | $ | 0.06 |  |  | $ | 0.32 |
Schedule of Stockholders Equity [Table Text Block] | Shareholders’ Equity - Activity impacting total shareholders’ equity attributable to The Marcus Corporation and noncontrolling interests for the 13 weeks ended March 28, 2019 and March 29, 2018 was as follows (in thousands, except per share data):
|  | Common Stock |  |  | Class B Common Stock |  |  | Capital in Excess of Par |  |  | Retained Earnings |  |  | Accumulated Other Comprehensive Loss |  |  | Treasury Stock |  |  | Shareholder s' Equity Attributable to The Marcus Corporation |  |  | Non- controlling Interests |  |  | Total Equity |
BALANCES AT DECEMBER 27, 2018 |  | $ | 22,843 |  |  | $ | 8,347 |  |  | $ | 63,830 |  |  | $ | 439,178 |  |  | $ | (6,758 | ) |  | $ | (37,431 | ) |  | $ | 490,009 |  |  | $ | 110 |  |  | $ | 490,119 |
Cash Dividends: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
$ .15 Class B Common Stock |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (1,183 | ) |  |  | - |  |  |  | - |  |  |  | (1,183 | ) |  |  | - |  |  |  | (1,183 | )
$ .16 Common Stock |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (3,633 | ) |  |  | - |  |  |  | - |  |  |  | (3,633 | ) |  |  | - |  |  |  | (3,633 | )
Exercise of stock options |  |  | - |  |  |  | - |  |  |  | (78 | ) |  |  | - |  |  |  | - |  |  |  | 532 |  |  |  | 454 |  |  |  | - |  |  |  | 454 |
Purchase of treasury stock |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (428 | ) |  |  | (428 | ) |  |  | - |  |  |  | (428 | )
Savings and profit-sharing contribution |  |  | - |  |  |  | - |  |  |  | 810 |  |  |  | - |  |  |  | - |  |  |  | 371 |  |  |  | 1,181 |  |  |  | - |  |  |  | 1,181 |
Reissuance of treasury stock |  |  | - |  |  |  | - |  |  |  | 31 |  |  |  | - |  |  |  | - |  |  |  | 16 |  |  |  | 47 |  |  |  | - |  |  |  | 47 |
Issuance of non-vested stock |  |  | - |  |  |  | - |  |  |  | (127 | ) |  |  | - |  |  |  | - |  |  |  | 127 |  |  |  | - |  |  |  | - |  |  |  | - |
Shared-based compensation |  |  | - |  |  |  | - |  |  |  | 777 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 777 |  |  |  | - |  |  |  | 777 |
Reissuance of treasury stock-acquisition |  |  | - |  |  |  | - |  |  |  | 77,960 |  |  |  | - |  |  |  | - |  |  |  | 31,237 |  |  |  | 109,197 |  |  |  | - |  |  |  | 109,197 |
Other |  |  | - |  |  |  | - |  |  |  | (109 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (109 | ) |  |  | - |  |  |  | (109 | )
Conversions of Class B Common Stock |  |  | 411 |  |  |  | (411 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Distributions to noncontrolling interest |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (60 | ) |  |  | (60 | )
Comprehensive income (loss) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 1,860 |  |  |  | (297 | ) |  |  | - |  |  |  | 1,563 |  |  |  | (66 | ) |  |  | 1,497 |
BALANCES AT MARCH 28, 2019 |  | $ | 23,254 |  |  | $ | 7,936 |  |  | $ | 143,094 |  |  | $ | 436,222 |  |  | $ | (7,055 | ) |  | $ | (5,576 | ) |  | $ | 597,875 |  |  | $ | (16 | ) |  | $ | 597,859 |
|  | Common Stock |  |  | Class B Common Stock |  |  | Capital in Excess of Par |  |  | Retained Earnings |  |  | Accumulated Other Comprehensive Income (Loss) |  |  | Treasury Stock |  |  | Shareholders' Equity Attributable to The Marcus Corporation |  |  | Non- controlling Interests |  |  | Total Equity |
BALANCES AT DECEMBER 28, 2017 |  | $ | 22,656 |  |  | $ | 8,534 |  |  | $ | 61,452 |  |  | $ | 403,206 |  |  | $ | (7,425 | ) |  | $ | (43,399 | ) |  | $ | 445,024 |  |  | $ | 100 |  |  | $ | 445,124 |
Amount reclassified to retained earnings on December 29, 2017 in connection with the adoption of ASU No. 2016-01 |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (11 | ) |  |  | 11 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Amount reclassified to retained earnings on December 29, 2017 in connection with the adoption of ASU No. 2018-02 |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 1,574 |  |  |  | (1,574 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Amount reclassified to retained earnings on December 29, 2017 in connection with the adoption of ASU No. 2014-09 |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (2,568 | ) |  |  | - |  |  |  | - |  |  |  | (2,568 | ) |  |  | - |  |  |  | (2,568 | )
Cash Dividends: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
$ .14 Class B Common Stock |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (1,163 | ) |  |  | - |  |  |  | - |  |  |  | (1,163 | ) |  |  | - |  |  |  | (1,163 | )
$ .15 Common Stock |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (2,907 | ) |  |  | - |  |  |  | - |  |  |  | (2,907 | ) |  |  | - |  |  |  | (2,907 | )
Exercise of stock options |  |  | - |  |  |  | - |  |  |  | (62 | ) |  |  | - |  |  |  | - |  |  |  | 991 |  |  |  | 929 |  |  |  | - |  |  |  | 929 |
Purchase of treasury stock |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (453 | ) |  |  | (453 | ) |  |  | - |  |  |  | (453 | )
Savings and profit-sharing contribution |  |  | - |  |  |  | - |  |  |  | 651 |  |  |  | - |  |  |  | - |  |  |  | 479 |  |  |  | 1,130 |  |  |  | - |  |  |  | 1,130 |
Reissuance of treasury stock |  |  | - |  |  |  | - |  |  |  | 26 |  |  |  | - |  |  |  | - |  |  |  | 23 |  |  |  | 49 |  |  |  | - |  |  |  | 49 |
Issuance of non-vested stock |  |  | - |  |  |  | - |  |  |  | (108 | ) |  |  | - |  |  |  | - |  |  |  | 108 |  |  |  | - |  |  |  | - |  |  |  | - |
Shared-based compensation |  |  | - |  |  |  | - |  |  |  | 596 |  |  |  | - |  |  |  | - |  |  |  |  |  |  |  | 596 |  |  |  | - |  |  |  | 596 |
Conversions of Class B Common Stock |  |  | 8 |  |  |  | (8 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Distributions to noncontrolling interest |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (19 | ) |  |  | (19 | )
Comprehensive income (loss) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 9,821 |  |  |  | (30 | ) |  |  | - |  |  |  | 9,791 |  |  |  | (15 | ) |  |  | 9,776 |
BALANCES AT MARCH 29, 2018 |  | $ | 22,664 |  |  | $ | 8,526 |  |  | $ | 62,555 |  |  | $ | 407,952 |  |  | $ | (9,018 | ) |  | $ | (42,251 | ) |  | $ | 450,428 |  |  | $ | 66 |  |  | $ | 450,494 |
Schedule of Accumulated Other Comprehensive Income (Loss) | Accumulated other comprehensive loss presented in the accompanying consolidated balance sheets consists of the following, all presented net of tax:
|  | March 28, 2019 |  |  | December 27, 2018 |
|  | (in thousands) |
Unrecognized loss on interest rate swap agreements |  | $ | (525 | ) |  | $ | (149 | )
Net unrecognized actuarial loss for pension obligation |  |  | (6,530 | ) |  |  | (6,609 | )
|  | $ | (7,055 | ) |  | $ | (6,758 | )
Schedule of Net Benefit Costs [Table Text Block] | The components of the net periodic pension cost of the Company’s unfunded nonqualified, defined-benefit plan are as follows:
|  | 13 Weeks Ended |
|  | March 28, 2019 |  |  | March 29, 2018 |
|  | (in thousands) |
Service cost |  | $ | 209 |  |  | $ | 232 |
Interest cost |  |  | 371 |  |  |  | 341 |
Net amortization of prior service cost and actuarial loss |  |  | 109 |  |  |  | 155 |
Net periodic pension cost |  | $ | 689 |  |  | $ | 728 |
Disaggregation of Revenue [Table Text Block] | The disaggregation of revenues by business segment for the 13 weeks ended March 28, 2019 is as follows (in thousands):
|  | Reportable Segment |  |  |  |
|  | Theatres |  |  | Hotels/Resorts |  |  | Corporate |  |  | Total |
Theatre admissions |  | $ | 58,969 |  |  | $ | - |  |  | $ | - |  |  | $ | 58,969 |
Rooms |  |  | - |  |  |  | 18,938 |  |  |  | - |  |  |  | 18,938 |
Theatre concessions |  |  | 47,155 |  |  |  | - |  |  |  | - |  |  |  | 47,155 |
Food and beverage |  |  | - |  |  |  | 15,783 |  |  |  | - |  |  |  | 15,783 |
Other revenues (1) |  |  | 8,569 |  |  |  | 12,167 |  |  |  | 93 |  |  |  | 20,829 |
Cost reimbursements |  |  | 192 |  |  |  | 8,173 |  |  |  | - |  |  |  | 8,365 |
Total revenues |  | $ | 114,885 |  |  | $ | 55,061 |  |  | $ | 93 |  |  | $ | 170,039 |
| (1) | Included in other revenues is an immaterial amount related to rental income that is not considered revenue from contracts with customers under ASC Topic 606 .
The disaggregation of revenues by business segment for the 13 weeks ended March 29, 2018 is as follows (in thousands):
|  | Reportable Segment |  |  |  |
|  | Theatres |  |  | Hotels/Resorts |  |  | Corporate |  |  | Total |
Theatre admissions |  | $ | 63,006 |  |  | $ | - |  |  | $ | - |  |  | $ | 63,006 |
Rooms |  |  | - |  |  |  | 20,671 |  |  |  | - |  |  |  | 20,671 |
Theatre concessions |  |  | 41,413 |  |  |  | - |  |  |  | - |  |  |  | 41,413 |
Food and beverage |  |  | - |  |  |  | 15,803 |  |  |  | - |  |  |  | 15,803 |
Other revenues (1) |  |  | 8,037 |  |  |  | 11,401 |  |  |  | 88 |  |  |  | 19,526 |
Cost reimbursements |  |  | 479 |  |  |  | 7,293 |  |  |  | - |  |  |  | 7,772 |
Total revenues |  | $ | 112,935 |  |  | $ | 55,168 |  |  | $ | 88 |  |  | $ | 168,191 |
| (1) | Included in other revenues is an immaterial amount related to rental income that is not considered revenue from contracts with customers under ASC Topic 606 .

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