XML 34 R25.htm IDEA: XBRL DOCUMENT
v3.23.1

Long-Term Debt - Narrative (Details) |  |  |  |  | 3 Months Ended | 12 Months Ended | 24 Months Ended |
--- | --- | --- | --- | --- | --- | --- | --- | ---
Mar. 30, 2023 USD ($) $ / shares | Feb. 10, 2023 | Sep. 29, 2022 | Sep. 17, 2020 USD ($) $ / shares | Mar. 30, 2023 USD ($) agreement $ / shares | Dec. 29, 2022 USD ($) agreement | Mar. 30, 2023 USD ($) $ / shares | Sep. 22, 2020
Senior notes | $ 80,000,000 |  |  |  | $ 80,000,000 | $ 80,000,000 | $ 80,000,000 |
Trading period |  |  |  |  | 20 days |  | 20 days |
Threshold trading days |  |  |  |  | 30 days |  | 30 days |
Threshold percentage of conversion price on each applicable trading day |  |  |  |  |  |  | 130.00% |
Initial conversion premium |  |  |  | 100.00% |  |  |  |
Share price (in dollars per share) | $ / shares |  |  |  | $ 8.99 |  |  |  |
Cap price of capped call transactions (in dollars per share) | $ / shares | $ 17.81 |  |  | 17.98 |  |  |  |
Strike price of capped call transactions (in dollars per share) | $ / shares |  |  |  | $ 11.0128 |  |  |  |
Term Loan A | SOFR |  |  |  |  |  |  |  |
Specified margin (as a percent) |  | 2.75% |  |  |  |  |  |
Term Loan A | ABR |  |  |  |  |  |  |  |
Specified margin (as a percent) |  | 1.75% |  |  |  |  |  |
Convertible Debt |  |  |  |  |  |  |  |
Interest rate (as a percent) |  |  |  | 5.00% |  |  |  | 5.00%
Face amount |  |  |  | $ 100,050,000 |  |  |  |
Threshold percentage of conversion price on each applicable trading day |  |  |  |  | 98.00% |  |  |
Conversion rate |  |  | 0.0916622 | 0.0908038 |  |  |  |
Initial conversion price (in dollars per share) | $ / shares | $ 10.91 |  |  | $ 11.01 | $ 10.91 |  | $ 10.91 |
Initial conversion premium |  |  |  | 22.50% |  |  |  |
Share price (in dollars per share) | $ / shares |  |  |  | $ 8.99 |  |  |  |
Purchase price as a percentage of principal amount |  |  |  | 100.00% |  |  |  |
Note Purchase Agreement |  |  |  |  |  |  |  |
Senior notes | $ 80,000,000 |  |  |  | $ 80,000,000 | $ 80,000,000 | $ 80,000,000 |
Number of purchase agreements | agreement |  |  |  |  | 2 | 2 |  |
Note Purchase Agreement | Minimum |  |  |  |  |  |  |  |
Interest rate (as a percent) | 4.02% |  |  |  | 4.02% |  | 4.02% |
Note Purchase Agreement | Maximum |  |  |  |  |  |  |  |
Interest rate (as a percent) | 4.32% |  |  |  | 4.32% |  | 4.32% |
Revolving Credit Facility |  |  |  |  |  |  |  |
Available facility | $ 212,773,000 |  |  |  | $ 212,773,000 |  | $ 212,773,000 |
Facility fee (as a percent) |  | 0.40% |  |  |  |  |  |
Revolving Credit Facility | SOFR |  |  |  |  |  |  |  |
Effective interest rate | 9.35% |  |  |  | 9.35% |  | 9.35% |
Specified margin (as a percent) |  | 2.35% |  |  |  |  |  |
Revolving Credit Facility | ABR |  |  |  |  |  |  |  |
Specified margin (as a percent) |  | 1.35% |  |  |  |  |  |
Credit Agreement |  |  |  |  |  |  |  |
Maximum borrowing capacity | $ 225,000,000 |  |  |  | $ 225,000,000 |  | $ 225,000,000 |
Borrowing outstanding | $ 9,000,000 |  |  |  | $ 9,000,000 |  | $ 9,000,000 |
Floor interest rate |  | 1.00% |  |  |  |  |  |
Specified margin (as a percent) |  | 0.50% |  |  |  |  |  |
Priority debt as a percentage of consolidated total capitalization |  |  |  |  | 20.00% |  |  |
Consolidated debt to capitalization ratio |  |  |  |  | 0.55 |  |  |
Consolidated fixed charge coverage ratio |  |  |  |  | 2.5 |  |  |
Credit Agreement | SOFR |  |  |  |  |  |  |  |
Floor interest rate |  | 0.00% |  |  |  |  |  |
Specified margin (as a percent) |  | 0.10% |  |  |  |  |  |
Credit Agreement | Minimum |  |  |  |  |  |  |  |
Facility fee (as a percent) |  | 0.125% |  |  |  |  |  |
Credit Agreement | Maximum |  |  |  |  |  |  |  |
Facility fee (as a percent) |  | 0.25% |  |  |  |  |  |
Quarterly dividend payments or share repurchases |  |  |  |  | $ 1,550,000 |  |  |
Credit Agreement | Subject to 1% Floor | SOFR |  |  |  |  |  |  |  |
Specified margin (as a percent) |  | 1.00% |  |  |  |  |  |

X
- Definition Represents the cap price of the capped call transactions. + References No definition available. + Details
Name: | mcs_CappedCallTransactionsCapPrice
Namespace Prefix: | mcs_
Data Type: | dtr-types:perShareItemType
Balance Type: | na
Period Type: | duration

X
- Definition Represents the strike price of the capped call transactions. + References No definition available. + Details
Name: | mcs_CappedCallTransactionsStrikePrice
Namespace Prefix: | mcs_
Data Type: | dtr-types:perShareItemType
Balance Type: | na
Period Type: | duration

X
- Definition Represents the consolidated debt to capitalization ratio. + References No definition available. + Details
Name: | mcs_ConsolidatedDebtToCapitalizationRatio
Namespace Prefix: | mcs_
Data Type: | xbrli:pureItemType
Balance Type: | na
Period Type: | duration

X
- Definition Represents the consolidated fixed charge coverage ratio. + References No definition available. + Details
Name: | mcs_ConsolidatedFixedChargeCoverageRatio
Namespace Prefix: | mcs_
Data Type: | xbrli:pureItemType
Balance Type: | na
Period Type: | duration

X
- Definition Represents the initial conversion premium of as a percentage of last reported sale price of the Common Stock. + References No definition available. + Details
Name: | mcs_DebtInstrumentConvertibleConversionPremium
Namespace Prefix: | mcs_
Data Type: | dtr-types:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition Debt Instrument, Covenant Dividend Payments Or Share Repurchases Threshold + References No definition available. + Details
Name: | mcs_DebtInstrumentCovenantDividendPaymentsOrShareRepurchasesThreshold
Namespace Prefix: | mcs_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Debt Instrument, Floor Interest Rate + References No definition available. + Details
Name: | mcs_DebtInstrumentFloorInterestRate
Namespace Prefix: | mcs_
Data Type: | dtr-types:percentItemType
Balance Type: | na
Period Type: | instant

X
- Definition Represents the information pertaining to number of note purchase agreements. + References No definition available. + Details
Name: | mcs_NumberOfPurchaseAgreements
Namespace Prefix: | mcs_
Data Type: | xbrli:integerItemType
Balance Type: | na
Period Type: | duration

X
- Definition Represents the priority debt as a percentage of consolidated total capitalization. + References No definition available. + Details
Name: | mcs_PriorityDebtAsPercentageOfConsolidatedTotalCapitalization
Namespace Prefix: | mcs_
Data Type: | dtr-types:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition Reported Sale Price, Threshold Trading Days + References No definition available. + Details
Name: | mcs_ReportedSalePriceThresholdTradingDays
Namespace Prefix: | mcs_
Data Type: | xbrli:durationItemType
Balance Type: | na
Period Type: | duration

X
- Definition Reported Sale Price, Trading Period + References No definition available. + Details
Name: | mcs_ReportedSalePriceTradingPeriod
Namespace Prefix: | mcs_
Data Type: | xbrli:durationItemType
Balance Type: | na
Period Type: | duration

X
- Definition Percentage points added to the reference rate to compute the variable rate on the debt instrument. + References No definition available. + Details
Name: | us-gaap_DebtInstrumentBasisSpreadOnVariableRate1
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition Amount, before unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but is not limited to, notes payable, bonds payable, commercial loans, mortgage loans, convertible debt, subordinated debt and other types of debt. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 4 -Subparagraph (b)(1) -URI https://asc.fasb.org/extlink&oid=123466204&loc=SL6031897-161870 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(16)) -URI https://asc.fasb.org/extlink&oid=126734703&loc=d3e572229-122910 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(22)) -URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(16)) -URI https://asc.fasb.org/extlink&oid=126897435&loc=d3e534808-122878 + Details
Name: | us-gaap_DebtInstrumentCarryingAmount
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition The price per share of the conversion feature embedded in the debt instrument. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 5 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=123466204&loc=SL6031898-161870 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1B -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611 + Details
Name: | us-gaap_DebtInstrumentConvertibleConversionPrice1
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:perShareItemType
Balance Type: | na
Period Type: | instant

X
- Definition Ratio applied to the conversion of debt instrument into equity with equity shares divided by debt principal amount. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1B -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 7 -URI https://asc.fasb.org/extlink&oid=126973232&loc=d3e21521-112644 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 6 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126973232&loc=d3e21506-112644 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22(a)(5)) -URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI https://asc.fasb.org/extlink&oid=126973232&loc=d3e21475-112644 + Details
Name: | us-gaap_DebtInstrumentConvertibleConversionRatio1
Namespace Prefix: | us-gaap_
Data Type: | xbrli:pureItemType
Balance Type: | na
Period Type: | duration

X
- Definition Minimum percentage of common stock price to conversion price of convertible debt instruments to determine eligibility of conversion. + References No definition available. + Details
Name: | us-gaap_DebtInstrumentConvertibleThresholdPercentageOfStockPriceTrigger
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition Face (par) amount of debt instrument at time of issuance. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1B -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=124435984&loc=d3e28551-108399 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 55 -Paragraph 8 -URI https://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=124429444&loc=SL124452920-239629 Reference 5: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 55 -Paragraph 69C -URI https://asc.fasb.org/extlink&oid=123466577&loc=SL123495737-112612 Reference 6: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 55 -Paragraph 69B -URI https://asc.fasb.org/extlink&oid=123466577&loc=SL123495735-112612 + Details
Name: | us-gaap_DebtInstrumentFaceAmount
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Effective interest rate for the funds borrowed under the debt agreement considering interest compounding and original issue discount or premium. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 6 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=123466204&loc=SL6036836-161870 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=124435984&loc=d3e28551-108399 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=124429444&loc=SL124452920-239629 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22(a)(1)) -URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
Name: | us-gaap_DebtInstrumentInterestRateEffectivePercentage
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:percentItemType
Balance Type: | na
Period Type: | instant

X
- Definition Contractual interest rate for funds borrowed, under the debt agreement. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1B -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22(a)(1)) -URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
Name: | us-gaap_DebtInstrumentInterestRateStatedPercentage
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:percentItemType
Balance Type: | na
Period Type: | instant

X
- Definition Percentage of principal amount of debt redeemed. + References No definition available. + Details
Name: | us-gaap_DebtInstrumentRedemptionPricePercentageOfPrincipalAmountRedeemed
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition The fee, expressed as a percentage of the line of credit facility, for the line of credit facility regardless of whether the facility has been used. + References No definition available. + Details
Name: | us-gaap_LineOfCreditFacilityCommitmentFeePercentage
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition Maximum borrowing capacity under the credit facility without consideration of any current restrictions on the amount that could be borrowed or the amounts currently outstanding under the facility. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19(b),22(b)) -URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
Name: | us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Amount of borrowing capacity currently available under the credit facility (current borrowing capacity less the amount of borrowings outstanding). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19(b),22(b)) -URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
Name: | us-gaap_LineOfCreditFacilityRemainingBorrowingCapacity
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Carrying value as of the balance sheet date of Notes with the highest claim on the assets of the issuer in case of bankruptcy or liquidation (with maturities initially due after one year or beyond the operating cycle if longer), excluding current portion. Senior note holders are paid off in full before any payments are made to junior note holders. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22) -URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 Reference 2: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 852 -SubTopic 10 -Section 55 -Paragraph 10 -URI https://asc.fasb.org/extlink&oid=84165509&loc=d3e56426-112766 + Details
Name: | us-gaap_SeniorLongTermNotes
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Price of a single share of a number of saleable stocks of a company. + References No definition available. + Details
Name: | us-gaap_SharePrice
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:perShareItemType
Balance Type: | na
Period Type: | instant

X
- Details
Name: | us-gaap_LongtermDebtTypeAxis=mcs_SeniorTermLoanMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_VariableRateAxis=mcs_SecuredOvernightFinancingRateSOFRMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_VariableRateAxis=mcs_AlternateBaseRateBRMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_LongtermDebtTypeAxis=us-gaap_ConvertibleDebtMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_LongtermDebtTypeAxis=mcs_NotePurchaseAgreementMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | srt_RangeAxis=srt_MinimumMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | srt_RangeAxis=srt_MaximumMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_CreditFacilityAxis=us-gaap_RevolvingCreditFacilityMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_CreditFacilityAxis=mcs_CreditAgreementMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | mcs_TrigerringEventsAxis=mcs_SubjectTo1FloorMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |