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v3.24.1.u1

General (Tables) | 3 Months Ended
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Mar. 28, 2024
Accounting Policies [Abstract] |
Schedule of Earnings (Loss) Per Share | The following table illustrates the computation of Common Stock basic and diluted net loss per share, provides a reconciliation of the number of weighted-average basic and diluted shares outstanding, when applicable, and provides the weighted-average number of anti-dilutive shares excluded from the computation of diluted weighted-average shares outstanding:
| 13 Weeks Ended |  |
| March 28, 2024 |  | March 30, 2023 |  |  |  |
Net loss per share - basic: |  |  |  |  |  |  |
Common Stock | $ | (0.38) |  |  | $ | (0.31) |  |  |  |  |
Class B Common Stock | $ | (0.34) |  |  | $ | (0.28) |  |  |  |  |
Net loss per share - diluted: |  |  |  |  |  |  |
Common Stock | $ | (0.38) |  |  | $ | (0.31) |  |  |  |  |
Class B Common Stock | $ | (0.34) |  |  | $ | (0.28) |  |  |  |  |
Numerator: |  |  |  |  |  |  |
Net loss | $ | (11,866) |  |  | $ | (9,466) |  |  |  |  |
Denominator (in thousands): |  |  |  |  |  |  |
Basic and diluted weighted-average shares outstanding | 31,892 |  |  | 31,572 |  |  |  |  |
Weighted-average number of anti-dilutive shares excluded from denominator: |  |  |  |  |  |  |
Employee stock options | 2,973,626 |  |  | 3,081,729 |  |  |  |  |
Restricted stock units | 49,505 |  |  | — |  |  |  |  |
Performance stock units | 143,305 |  |  | — |  |  |  |  |
Convertible senior notes | 9,331,461 |  |  | 9,170,800 |  |  |  |  |
Total | 12,497,897 |  |  | 12,252,529 |  |  |  |  |
Schedule of Stockholders Equity | Activity impacting total shareholders’ equity attributable to The Marcus Corporation and noncontrolling interest for the 13 weeks ended March 28, 2024 and March 30, 2023 was as follows:
| Common Stock |  | Class B Common Stock |  | Capital in Excess of Par |  | Retained Earnings |  | Accumulated Other Comprehensive Loss |  | Treasury Stock |  | Total Shareholders’ Equity
BALANCES AT DECEMBER 28, 2023 | $ | 24,692 |  |  | $ | 7,078 |  |  | $ | 160,642 |  |  | $ | 281,599 |  |  | $ | (1,336) |  |  | $ | (1,503) |  |  | $ | 471,172 |
Cash dividends: |  |  |  |  |  |  |  |  |  |  |  |  |
$0.064 per share Class B Common Stock | — |  |  | — |  |  | — |  |  | (449) |  |  | — |  |  | — |  |  | (449) |
$0.07 per share Common Stock | — |  |  | — |  |  | — |  |  | (1,760) |  |  | — |  |  | — |  |  | (1,760) |
Purchase of treasury stock | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (301) |  |  | (301) |
Reissuance of treasury stock | — |  |  | — |  |  | (3) |  |  | — |  |  | — |  |  | 23 |  |  | 20 |
Issuance of non-vested stock | 452 |  |  | — |  |  | (515) |  |  | — |  |  | — |  |  | 63 |  |  | — |
Shared-based compensation | — |  |  | — |  |  | 2,514 |  |  | — |  |  | — |  |  | — |  |  | 2,514 |
Conversions of Class B Common Stock | 93 |  |  | (93) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Comprehensive loss | — |  |  | — |  |  | — |  |  | (11,866) |  |  | (12) |  |  | — |  |  | (11,878) |
BALANCES AT MARCH 28, 2024 | $ | 25,237 |  |  | $ | 6,985 |  |  | $ | 162,638 |  |  | $ | 267,524 |  |  | $ | (1,348) |  |  | $ | (1,718) |  |  | $ | 459,318 |
| Common Stock |  | Class B Common Stock |  | Capital in Excess of Par |  | Retained Earnings |  | Accumulated Other Comprehensive 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 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 |
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, 2024 |  | December 28, 2023
Net unrecognized actuarial loss for pension obligation | $ | (1,348) |  |  | $ | (1,336) |
| $ | (1,348) |  |  | $ | (1,336) |
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 28, 2024 |  | March 30, 2023 |  |  |  |
Service cost | $ | 62 |  |  | $ | 122 |  |  |  |  |
Interest cost | 444 |  |  | 453 |  |  |  |  |
Net amortization of prior service cost and actuarial loss | (16) |  |  | (16) |  |  |  |  |
Net periodic pension cost | $ | 490 |  |  | $ | 559 |  |  |  |  |
Schedule of Disaggregation of Revenue | The disaggregation of revenues by business segment for the 13 weeks ended March 28, 2024 is as follows:
| 13 Weeks Ended March 28, 2024
| Theatres |  | Hotels/Resorts |  | Corporate |  | Total
Theatre admissions | $ | 40,596 |  |  | $ | — |  |  | $ | — |  |  | $ | 40,596 |
Rooms | — |  |  | 18,213 |  |  | — |  |  | 18,213 |
Theatre concessions | 34,695 |  |  | — |  |  | — |  |  | 34,695 |
Food and beverage | — |  |  | 16,163 |  |  | — |  |  | 16,163 |
Other revenues(1) | 5,979 |  |  | 13,643 |  |  | 80 |  |  | 19,702 |
Cost reimbursements | — |  |  | 9,178 |  |  | — |  |  | 9,178 |
Total revenues | $ | 81,270 |  |  | $ | 57,197 |  |  | $ | 80 |  |  | $ | 138,547 |
(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 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.

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