REVENUE RECOGNITION (Tables)
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9 Months Ended |
Sep. 30, 2023 |
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| Disaggregation of Revenue [Line Items] |
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| Schedule of disaggregated revenue |
| | | | | | | | | | | | | | | Three Months Ended | | Nine Months Ended | (In millions) | | September 30, 2023 | | September 30, 2022 | | September 30, 2023 | | September 30, 2022 | Major revenue types | | | | | | | | | | | Admissions | | $ | 797.7 | | $ | 545.3 | | $ | 2,075.9 | | $ | 1,640.1 | Food and beverage | | | 482.7 | | | 333.3 | | | 1,299.6 | | | 982.5 | Other theatre: | | | | | | | | | | | | | Screen advertising | | | 33.2 | | | 29.0 | | | 96.4 | | | 90.2 | Other | | | 92.3 | | | 60.8 | | | 236.3 | | | 207.7 | Other theatre | | | 125.5 | | | 89.8 | | | 332.7 | | | 297.9 | Total revenues | | $ | 1,405.9 | | $ | 968.4 | | $ | 3,708.2 | | $ | 2,920.5 |
| | | | | | | | | | | | | | | Three Months Ended | | Nine Months Ended | (In millions) | | September 30, 2023 | | September 30, 2022 | | September 30, 2023 | | September 30, 2022 | Timing of revenue recognition | | | | | | | | | Products and services transferred at a point in time | | $ | 1,299.3 | | $ | 884.5 | | $ | 3,431.5 | | $ | 2,675.3 | Products and services transferred over time (1) | | | 106.6 | | | 83.9 | | | 276.7 | | | 245.2 | Total revenues | | $ | 1,405.9 | | $ | 968.4 | | $ | 3,708.2 | | $ | 2,920.5 |
| (1) | Amounts primarily include subscription and advertising revenues. |
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| Schedule of receivables and deferred revenue income |
| | | | | | | (In millions) | | September 30, 2023 | | December 31, 2022 | Current assets | | | | | | | Receivables related to contracts with customers | | $ | 54.4 | | $ | 92.3 | Miscellaneous receivables | | | 79.8 | | | 74.3 | Receivables, net | | $ | 134.2 | | $ | 166.6 |
| | | | | | | (In millions) | | September 30, 2023 | | December 31, 2022 | Current liabilities | | | | | | | Deferred revenues related to contracts with customers | | $ | 405.7 | | $ | 398.8 | Miscellaneous deferred income | | | 5.3 | | | 3.9 | Deferred revenues and income | | $ | 411.0 | | $ | 402.7 |
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| Customers included in deferred revenues and income |
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| Disaggregation of Revenue [Line Items] |
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| Schedule of changes in contract liabilities |
| | | | | | Deferred Revenues | | | Related to Contracts | (In millions) | | with Customers | Balance December 31, 2022 | | $ | 398.8 | Cash received in advance (1) | | | 248.5 | Customer loyalty rewards accumulated, net of expirations: | | | | Admission revenues (2) | | | 17.4 | Food and beverage (2) | | | 31.6 | Other theatre (2) | | | (0.7) | Reclassification to revenue as the result of performance obligations satisfied: | | | | Admission revenues (3) | | | (197.8) | Food and beverage (3) | | | (58.7) | Other theatre (4) | | | (33.9) | Foreign currency translation adjustment | | | 0.5 | Balance September 30, 2023 | | $ | 405.7 |
| (1) | Includes movie tickets, food and beverage, gift cards, exchange tickets, and AMC Stubs® loyalty membership fees. |
| (2) | Amount of rewards accumulated, net of expirations, that are attributed to AMC Stubs® and other loyalty programs. |
| (3) | Amount of rewards redeemed that are attributed to gift cards, exchange tickets, movie tickets, AMC Stubs® loyalty programs and other loyalty programs. |
| (4) | Amounts relate to income from non-redeemed or partially redeemed gift cards, non-redeemed exchange tickets, AMC Stubs® loyalty membership fees and other loyalty programs. |
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| Exhibitor services agreement |
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| Disaggregation of Revenue [Line Items] |
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| Schedule of changes in contract liabilities |
| | | | | | Exhibitor Services | (In millions) | | Agreement (1) | Balance December 31, 2022 | | $ | 505.8 | Reclassification, net of adjustments, for portion of the beginning balance to other theatre revenue, as the result of performance obligations satisfied | | | (13.8) | Balance September 30, 2023 | | $ | 492.0 |
| (1) | Represents the carrying amount of the National CineMedia, LLC (“NCM”) common units that were previously received under the annual Common Unit Adjustment (“CUA”) and subsequent adjustments related to the NCM Bankruptcy, as discussed in greater detail below. The deferred revenues are being amortized to other theatre revenues over the remainder of the 30-year term of the Exhibitor Service Agreement (“ESA”) ending in February 2037. |
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