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General (Tables)

3 Months Ended

Mar. 30, 2023

Accounting Policies [Abstract]

Schedule of Earnings Per Share

The following table illustrates the computation of Common Stock basic and diluted net loss per share and provides a reconciliation of the number of weighted-average basic and diluted shares outstanding:

			13 Weeks Ended
			March 30, 2023						March 31, 2022
Numerator:
Net loss attributable to The Marcus Corporation			$	(9,466)					$	(14,902)
Denominator (in thousands):
Denominator for basic EPS			31,572						31,445
Effect of dilutive employee stock options			—						—
Effect of convertible notes			—						—
Denominator for diluted EPS			31,572						31,445
Net loss per share - basic:
Common Stock			$	(0.31)					$	(0.48)
Class B Common Stock			$	(0.28)					$	(0.44)
Net loss per share - diluted:
Common Stock			$	(0.31)					$	(0.48)
Class B Common Stock			$	(0.28)					$	(0.44)

Schedule of Stockholders Equity

Activity impacting total shareholders’ equity attributable to The Marcus Corporation and noncontrolling interest for the 13 weeks ended March 30, 2023 and March 31, 2022 was as follows:

			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 Interest						Total Equity
BALANCES AT DECEMBER 29, 2022			$	24,498					$	7,111					$	153,794					$	274,254					$	(1,694)					$	(1,866)					$	456,097					$	824					$	456,921
Cash dividends:
$0.045 per share Class B Common Stock			—						—						—						(319)						—						—						(319)						—						(319)
$0.05 per share Common Stock			—						—						—						(1,229)						—						—						(1,229)						—						(1,229)
Exercise of stock options			—						—						(1)						—						—						3						2						—						2
Purchase of treasury stock			—						—						—						—						—						(313)						(313)						—						(313)
Savings and profit-sharing contribution			79						—						1,180						—						—						—						1,259						—						1,259
Reissuance of treasury stock			—						—						(3)						—						—						24						21						—						21
Issuance of non-vested stock			82						—						(143)						—						—						61						—						—						—
Shared-based compensation			—						—						2,172						—						—						—						2,172						—						2,172
Other			—						—						1						(1)						—						—						—						—						—
Conversions of Class B Common Stock			33						(33)						—						—						—						—						—						—						—
Distribution to noncontrolling interest			—						—						—						—						—						—						—						(550)						(550)
Comprehensive income (loss)			—						—						—						(9,466)						(91)						—						(9,557)						—						(9,557)
BALANCES AT MARCH 30, 2023			$	24,692					$	7,078					$	157,000					$	263,239					$	(1,785)					$	(2,091)					$	448,133					$	274					$	448,407

			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 Interest						Total Equity
BALANCES AT DECEMBER 30, 2021			$	24,345					$	7,130					$	145,656					$	289,306					$	(11,444)					$	(1,379)					$	453,614					$	—					$	453,614
Exercise of stock options			—						—						(5)						—						—						31						26						—						26
Purchase of treasury stock			—						—						—						—						—						(1,373)						(1,373)						—						(1,373)
Savings and profit-sharing contribution			56						—						900						—						—						—						956						—						956
Reissuance of treasury stock			—						—						1						—						—						8						9						—						9
Issuance of non-vested stock			78						—						(236)						—						—						158						—						—						—
Shared-based compensation			—						—						2,917						—						—						—						2,917						—						2,917
Other			—						—						1						(1)						—						—						—						—						—
Conversions of Class B Common Stock			19						(19)						—						—						—						—						—						—						—
Comprehensive income (loss)			—						—						—						(14,902)						531						—						(14,371)						—						(14,371)
BALANCES AT MARCH 31, 2022			$	24,498					$	7,111					$	149,234					$	274,403					$	(10,913)					$	(2,555)					$	441,778					$	—					$	441,778

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 30, 2023						December 29, 2022
Unrecognized gain on interest rate swap agreements			$	—					$	80
Net unrecognized actuarial loss for pension obligation			(1,785)						$	(1,774)
			$	(1,785)					$	(1,694)

Schedule of Defined Benefit Plan

The components of the net periodic pension cost of the Company’s unfunded nonqualified, defined-benefit plan are as follows:

			13 Weeks Ended
			March 30, 2023						March 31, 2022
Service cost			$	122					$	264
Interest cost			453						335
Net amortization of prior service cost and actuarial loss			(16)						257
Net periodic pension cost			$	559					$	856

Schedule of Disaggregation of Revenue

The disaggregation of revenues by business segment for the 13 weeks ended March 30, 2023 is as follows:

			13 Weeks Ended March 30, 2023
			Theatres						Hotels/Resorts						Corporate						Total
Theatre admissions			$	47,635					$	—					$	—					$	47,635
Rooms			—						17,857						—						17,857
Theatre concessions			42,375						—						—						42,375
Food and beverage			—						15,193						—						15,193
Other revenues(1)			6,366						13,233						89						19,688
Cost reimbursements			—						9,528						—						9,528
Total revenues			$	96,376					$	55,811					$	89					$	152,276

(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 31, 2022 is as follows:

			13 Weeks Ended March 31, 2022
			Theatres						Hotels/Resorts						Corporate						Total
Theatre admissions			$	38,417					$	—					$	—					$	38,417
Rooms			—						17,430						—						17,430
Theatre concessions			35,464						—						—						35,464
Food and beverage			—						14,511						—						14,511
Other revenues(1)			5,610						13,103						94						18,807
Cost reimbursements			—						7,613						—						7,613
Total revenues			$	79,491					$	52,657					$	94					$	132,242

(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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