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v3.20.1

General (Tables) | 3 Months Ended
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Mar. 26, 2020
General |
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 (loss) per share for net earnings (loss) and provides a reconciliation of the number of weighted-average basic and diluted shares outstanding: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 13 Weeks Ended
​ |  | March 26, 2020 |  | March 28, 2019
​ | ​ | (in thousands, except per share data)
Numerator: |  | ​ |  |  | ​ |
Net earnings (loss) attributable to The Marcus Corporation | ​ | $ | (19,352) | ​ | $ | 1,860
Denominator: | ​ |  |  | ​ |  |
Denominator for basic EPS | ​ |  | 30,975 | ​ |  | 29,883
Effect of dilutive employee stock options | ​ |  | — | ​ |  | 616
Denominator for diluted EPS | ​ |  | 30,975 | ​ |  | 30,499
Net earnings (loss) per share - basic: | ​ |  |  | ​ |  |
Common Stock | ​ | $ | (0.64) | ​ | $ | 0.06
Class B Common Stock | ​ | $ | (0.58) | ​ | $ | 0.06
Net earnings (loss) per share - diluted: | ​ |  |  | ​ |  |
Common Stock | ​ | $ | (0.64) | ​ | $ | 0.06
Class B Common Stock | ​ | $ | (0.58) | ​ | $ | 0.06
Schedule of Stockholders Equity | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | Shareholders’ |  | ​ | ​ |  | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Equity | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Accumulated | ​ | ​ | ​ | ​ | Attributable | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Class B | ​ | Capital | ​ | ​ | ​ | ​ | Other | ​ | ​ | ​ | ​ | to The | ​ | Non- | ​ | ​ | ​
​ | ​ | Common | ​ | Common | ​ | in Excess | ​ | Retained | ​ | Comprehensive | ​ | Treasury | ​ | Marcus | ​ | controlling | ​ | Total
​ | ​ | Stock | ​ | Stock | ​ | of Par | ​ | Earnings | ​ | Loss | ​ | Stock | ​ | Corporation | ​ | Interests | ​ | Equity
BALANCES AT DECEMBER 26, 2019 | ​ | $ | 23,254 | ​ | $ | 7,936 | ​ | $ | 145,549 | ​ | $ | 461,884 | ​ | $ | (12,648) | ​ | $ | (4,540) | ​ | $ | 621,435 | ​ | $ | 23 | ​ | $ | 621,458
Cash Dividends: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
$.15 Class B Common Stock | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | (1,224) | ​ |  | — | ​ |  | — | ​ |  | (1,224) | ​ |  | — | ​ |  | (1,224)
$.17 Common Stock | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | (3,921) | ​ |  | — | ​ |  | — | ​ |  | (3,921) | ​ |  | — | ​ |  | (3,921)
Exercise of stock options | ​ |  | — | ​ |  | — | ​ |  | 5 | ​ |  | — | ​ |  | — | ​ |  | 40 | ​ |  | 45 | ​ |  | — | ​ |  | 45
Purchase of treasury stock | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | (274) | ​ |  | (274) | ​ |  | — | ​ |  | (274)
Savings and profit-sharing contribution | ​ |  | — | ​ |  | — | ​ |  | 299 | ​ |  | — | ​ |  | — | ​ |  | 1,016 | ​ |  | 1,315 | ​ |  | — | ​ |  | 1,315
Reissuance of treasury stock | ​ |  | — | ​ |  | — | ​ |  | 2 | ​ |  | — | ​ |  | — | ​ |  | 46 | ​ |  | 48 | ​ |  | — | ​ |  | 48
Issuance of non-vested stock | ​ |  | — | ​ |  | — | ​ |  | (149) | ​ |  | — | ​ |  | — | ​ |  | 149 | ​ |  | — | ​ |  | — | ​ |  | —
Shared-based compensation | ​ |  | — | ​ |  | — | ​ |  | 988 | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | 988 | ​ |  | — | ​ |  | 988
Conversions of Class B Common Stock | ​ |  | 10 | ​ |  | (10) | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | —
Comprehensive loss | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | (19,352) | ​ |  | (547) | ​ |  | — | ​ |  | (19,899) | ​ |  | (148) | ​ |  | (20,047)
BALANCES AT MARCH 26, 2020 | ​ | $ | 23,264 | ​ | $ | 7,926 | ​ | $ | 146,694 | ​ | $ | 437,387 | ​ | $ | (13,195) | ​ | $ | (3,563) | ​ | $ | 598,513 | ​ | $ | (125) | ​ | $ | 598,388
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | Shareholders’ |  | ​ | ​ |  | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Equity | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Accumulated | ​ | ​ | ​ | ​ | Attributable | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Class B | ​ | Capital | ​ | ​ | ​ | ​ | Other | ​ | ​ | ​ | ​ | to The | ​ | Non- | ​ | ​ | ​
​ | ​ | Common | ​ | Common | ​ | in Excess | ​ | Retained | ​ | Comprehensive | ​ | Treasury | ​ | Marcus | ​ | controlling | ​ | Total
​ | ​ | Stock | ​ | Stock | ​ | of Par | ​ | Earnings | ​ | Loss | ​ | Stock | ​ | Corporation | ​ | Interests | ​ | 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
Schedule of Accumulated Other Comprehensive Income (Loss) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | March 26, |  | December 26,
​ | ​ | 2020 | ​ | 2019
​ |  | (in thousands)
Unrecognized loss on interest rate swap agreements | ​ | $ | (1,612) | ​ | $ | (882)
Net unrecognized actuarial loss for pension obligation | ​ |  | (11,583) | ​ |  | (11,766)
​ | ​ | $ | (13,195) | ​ | $ | (12,648)
Schedule of Accumulated Other Comprehensive Income (Loss) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 13 Weeks Ended
​ |  | March 26, 2020 |  | March 28, 2019
​ | ​ | (in thousands)
Service cost | ​ | $ | 274 | ​ | $ | 209
Interest cost | ​ |  | 342 | ​ |  | 371
Net amortization of prior service cost and actuarial loss | ​ |  | 248 | ​ |  | 109
Net periodic pension cost | ​ | $ | 864 | ​ | $ | 689
​
Schedule of Disaggregation of Revenue | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Reportable Segment | ​ | ​ | ​
​ |  | Theatres |  | Hotels/Resorts |  | Corporate |  | Total
Theatre admissions | ​ | $ | 55,395 | ​ | $ | — | ​ | $ | — | ​ | $ | 55,395
Rooms | ​ |  | — | ​ |  | 16,989 | ​ |  | — | ​ |  | 16,989
Theatre concessions | ​ |  | 45,930 | ​ |  | — | ​ |  | — | ​ |  | 45,930
Food and beverage | ​ |  | — | ​ |  | 13,614 | ​ |  | — | ​ |  | 13,614
Other revenues (1) | ​ |  | 7,703 | ​ |  | 10,984 | ​ |  | 89 | ​ |  | 18,776
Cost reimbursements | ​ |  | 183 | ​ |  | 8,573 | ​ |  | — | ​ |  | 8,756
Total revenues | ​ | $ | 109,211 | ​ | $ | 50,160 | ​ | $ | 89 | ​ | $ | 159,460
​
(1) | Included in other revenues is an immaterial amount related to rental income that is not considered revenue from contracts with customers.
​ 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.

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