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v3.21.1

General (Tables) | 3 Months Ended
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Apr. 01, 2021
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
​ |  | April 1, 2021 |  | March 26, 2020
​ | ​ | (in thousands, except per share data)
Numerator: |  | ​ |  |  | ​ |
Net loss attributable to The Marcus Corporation | ​ | $ | (28,130) | ​ | $ | (19,352)
Denominator: | ​ | ​ | ​ | ​ | ​ | ​
Denominator for basic EPS | ​ |  | 31,196 | ​ |  | 30,975
Effect of dilutive employee stock options | ​ |  | — | ​ |  | —
Denominator for diluted EPS | ​ |  | 31,196 | ​ |  | 30,975
Net loss per share - basic: | ​ | ​ | ​ | ​ | ​ | ​
Common Stock | ​ | $ | (0.93) | ​ | $ | (0.64)
Class B Common Stock | ​ | $ | (0.80) | ​ | $ | (0.58)
Net loss per share - diluted: | ​ |  | ​ | ​ |  | ​
Common Stock | ​ | $ | (0.93) | ​ | $ | (0.64)
Class B Common Stock | ​ | $ | (0.80) | ​ | $ | (0.58)
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 31, 2020 | ​ | $ | 23,264 | ​ | $ | 7,926 | ​ | $ | 153,529 | ​ | $ | 331,897 | ​ | $ | (14,933) | ​ | $ | (2,960) | ​ | $ | 498,723 | ​ | $ | — | ​ | $ | 498,723
Adoption of ASU No. 2020-06 (see Note 4) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (16,511) | ​ | ​ | 702 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (15,809) | ​ | ​ | — | ​ | ​ | (15,809)
Exercise of stock options | ​ |  | — | ​ |  | — | ​ |  | (659) | ​ |  | — | ​ |  | — | ​ |  | 1,951 | ​ |  | 1,292 | ​ |  | — | ​ |  | 1,292
Purchase of treasury stock | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | (1,181) | ​ |  | (1,181) | ​ |  | — | ​ |  | (1,181)
Savings and profit-sharing contribution | ​ |  | 44 | ​ |  | — | ​ |  | 968 | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | 1,012 | ​ |  | — | ​ |  | 1,012
Reissuance of treasury stock | ​ |  | — | ​ |  | — | ​ |  | 2 | ​ |  | — | ​ |  | — | ​ |  | 10 | ​ |  | 12 | ​ |  | — | ​ |  | 12
Issuance of non-vested stock | ​ |  | 221 | ​ |  | — | ​ |  | (367) | ​ |  | — | ​ |  | — | ​ |  | 146 | ​ |  | — | ​ |  | — | ​ |  | —
Shared-based compensation | ​ |  | — | ​ |  | — | ​ |  | 1,484 | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | 1,484 | ​ |  | — | ​ |  | 1,484
Other | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | (1) | ​ |  | — | ​ |  | 1 | ​ |  | — | ​ |  | — | ​ |  | —
Conversions of Class B Common Stock | ​ |  | 520 | ​ |  | (520) | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | —
Comprehensive income (loss) | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | (28,130) | ​ |  | 452 | ​ |  | — | ​ |  | (27,678) | ​ |  | — | ​ |  | (27,678)
BALANCES AT APRIL 1, 2021 | ​ | $ | 24,049 | ​ | $ | 7,406 | ​ | $ | 138,446 | ​ | $ | 304,468 | ​ | $ | (14,481) | ​ | $ | (2,033) | ​ | $ | 457,855 | ​ | $ | — | ​ | $ | 457,855
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | 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)
$.16 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
Schedule of Accumulated Other Comprehensive Income (Loss) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | April 1, |  | December 31,
​ | ​ | 2021 | ​ | 2020
​ | ​ | (in thousands)
Unrecognized loss on interest rate swap agreements | ​ | $ | (876) | ​ | $ | (1,086)
Net unrecognized actuarial loss for pension obligation | ​ |  | (13,605) | ​ |  | (13,847)
​ | ​ | $ | (14,481) | ​ | $ | (14,933)
Schedule of Defined Benefit Plan | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 13 Weeks | ​ | 13 Weeks
​ | ​ | Ended | ​ | Ended
​ |  | April 1, 2021 |  | March 26, 2020
​ | ​ | (in thousands)
Service cost | ​ | $ | 281 | ​ | $ | 274
Interest cost | ​ |  | 300 | ​ |  | 342
Net amortization of prior service cost and actuarial loss | ​ |  | 328 | ​ |  | 248
Net periodic pension cost | ​ | $ | 909 | ​ | $ | 864
Schedule of Disaggregation of Revenue | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 13 Weeks Ended April 1, 2021
​ |  | Reportable Segment
​ | ​ | Theatres |  | Hotels/Resorts |  | Corporate |  | Total
Theatre admissions | ​ | $ | 10,685 | ​ | $ | — | ​ | $ | — | ​ | $ | 10,685
Rooms | ​ |  | — | ​ |  | 9,044 | ​ |  | — | ​ |  | 9,044
Theatre concessions | ​ |  | 9,919 | ​ |  | — | ​ |  | — | ​ |  | 9,919
Food and beverage | ​ |  | — | ​ |  | 5,912 | ​ |  | — | ​ |  | 5,912
Other revenues(1) | ​ |  | 1,915 | ​ |  | 9,879 | ​ |  | 100 | ​ |  | 11,894
Cost reimbursements | ​ |  | 43 | ​ |  | 3,290 | ​ |  | — | ​ |  | 3,333
Total revenues | ​ | $ | 22,562 | ​ | $ | 28,125 | ​ | $ | 100 | ​ | $ | 50,787
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 13 Weeks Ended March 26, 2020
​ | ​ | 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.

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