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General (Tables)

3 Months Ended

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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