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Operations In Foreign Currency | 9 Months Ended
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Sep. 30, 2024
Operations In Foreign Currency [Abstract] |
Operations In Foreign Currency | Note 4 – Operations in Foreign Currency We have significant assets in Australia and New Zealand. Historically, we have conducted our Australian and New Zealand operations (collectively “foreign operations”) on a self-funding basis, where we use cash flows generated by our foreign operations to pay for the expenses of those foreign operations. However, in recent periods, cash flows from our overseas operations have been used to cover our domestic general and administrative costs, interest expense, and loss from our domestic cinema operations. Our Australian and New Zealand assets and liabilities are translated from their functional currencies of Australian dollar (“AU$”) and New Zealand dollar (“NZ$”), respectively, to the U.S. dollar based on the exchange rate as of September 30, 2024. The carrying value of the assets and liabilities of our foreign operations fluctuates as a result of changes in the exchange rates between the functional currencies of the foreign operations and the U.S. dollar. The translation adjustments are accumulated in the Accumulated Other Comprehensive Income in the Consolidated Balance Sheets. We take a global view of our financial resources and are flexible in making use of resources from one jurisdiction in other jurisdictions. Presented in the table below are the currency exchange rates for Australia and New Zealand:
| Foreign Currency / USD
| As of and ‎for the ‎quarter ‎ended |  | As of and for the nine months ended |  | As of and ‎for the ‎twelve months ‎ended |  | As of and ‎for the ‎quarter ‎ended |  | As of and for the nine months ended
| September 30, 2024 |  | December 31, 2023 |  | September 30, 2023
Spot Rate |  |  |  |  |  |  |  |  |
Australian Dollar | 0.6934 |  | 0.6828 |  | 0.6451
New Zealand Dollar | 0.6363 |  | 0.6340 |  | 0.6013
Average Rate |  |  |  |  |  |  |  |  |
Australian Dollar | 0.6700 |  | 0.6621 |  | 0.6647 |  | 0.6551 |  | 0.6691
New Zealand Dollar | 0.6117 |  | 0.6098 |  | 0.6145 |  | 0.6053 |  | 0.6179

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