REVENUE RECOGNITION (Tables)
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12 Months Ended |
Dec. 31, 2024 |
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| Disaggregation of Revenue [Line Items] |
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| Schedule of disaggregated revenue |
| | | | | | | | | | | | Year Ended | (In millions) | | December 31, 2024 | | December 31, 2023 | | December 31, 2022 | Major revenue types | | | | | | | | Admissions | | $ | 2,560.5 | | $ | 2,690.5 | | $ | 2,201.4 | Food and beverage | | | 1,624.9 | | | 1,669.8 | | | 1,313.7 | Other theatre: | | | | | | | | | | Advertising | | | 132.9 | | | 129.5 | | | 122.7 | Other theatre | | | 318.9 | | | 322.8 | | | 273.6 | Other theatre | | | 451.8 | | | 452.3 | | | 396.3 | Total revenues | | $ | 4,637.2 | | $ | 4,812.6 | | $ | 3,911.4 |
| | | | | | | | | | | | Year Ended | (In millions) | | December 31, 2024 | | December 31, 2023 | | December 31, 2022 | Timing of revenue recognition | | | | | | | Products and services transferred at a point in time | | $ | 4,224.7 | | $ | 4,424.1 | | $ | 3,579.9 | Products and services transferred over time (1) | | | 412.5 | | | 388.5 | | | 331.5 | Total revenues | | $ | 4,637.2 | | $ | 4,812.6 | | $ | 3,911.4 |
| (1) | Amounts primarily include subscription and advertising revenues. |
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| Schedule of receivables and deferred revenue income |
| | | | | | | (In millions) | | December 31, 2024 | | December 31, 2023 | Current assets | | | | | | | Receivables related to contracts with customers | | $ | 86.0 | | $ | 113.5 | Miscellaneous receivables | | | 82.1 | | | 90.2 | Receivables, net | | $ | 168.1 | | $ | 203.7 |
| | | | | | | (In millions) | | December 31, 2024 | | December 31, 2023 | Current liabilities | | | | | | | Deferred revenues related to contracts with customers | | $ | 425.6 | | $ | 415.3 | Miscellaneous deferred income | | | 6.8 | | | 6.5 | Deferred revenues and income | | $ | 432.4 | | $ | 421.8 |
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| Schedule of transaction price allocated to the remaining performance obligations related to Exhibitor Service Agreements |
| | | | (In millions) | | Exhibitor Services Agreement | Year ended 2025 | | $ | 24.4 | Year ended 2026 | | | 26.2 | Year ended 2027 | | | 28.2 | Year ended 2028 | | | 30.4 | Year ended 2029 | | | 32.8 | Years ended 2030 through February 2037 | | | 322.0 | Total | | $ | 464.0 |
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| Sales Channel, Directly to Consumer |
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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) | | | 331.7 | Customer loyalty rewards accumulated, net of expirations: | | | | Admission revenues (2) | | | 22.3 | Food and beverage revenues (2) | | | 37.8 | Other theatre revenues (2) | | | (1.3) | Reclassification to revenue as the result of performance obligations satisfied: | | | | Admission revenues (3) | | | (237.5) | Food and beverage revenues (3) | | | (70.1) | Other theatre revenues (4) | | | (64.1) | Foreign currency translation adjustment | | | (2.3) | Balance December 31, 2023 | | $ | 415.3 | Cash received in advance (1) | | | 354.1 | Customer loyalty rewards accumulated, net of expirations: | | | | Admission revenues (2) | | | 22.6 | Food and beverage revenues (2) | | | 39.5 | Other theatre revenues (2) | | | (2.6) | Reclassification to revenue as the result of performance obligations satisfied: | | | | Admission revenues (3) | | | (254.1) | Food and beverage revenues (3) | | | (75.8) | Other theatre revenues (4) | | | (73.2) | Foreign currency translation adjustment | | | (0.2) | Balance December 31, 2024 | | $ | 425.6 |
| (1) | Includes movie tickets, food and beverage, gift cards, exchange tickets, subscription membership fees, and other loyalty membership fees. |
| (2) | Amount of rewards accumulated, net of expirations, that are attributed to loyalty programs. |
| (3) | Amount of rewards redeemed that are attributed to gift cards, exchange tickets, movie tickets, and loyalty programs. |
| (4) | Amounts relate to income from non-redeemed or partially redeemed gift cards, non-redeemed exchange tickets, subscription membership fees, and loyalty programs membership fees. |
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| Sales Channel, Through Intermediary |
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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 | | | (19.2) | Balance December 31, 2023 | | | 486.6 | Reclassification of the beginning balance to other theatre revenue, as the result of performance obligations satisfied | | | (22.6) | Balance December 31, 2024 | | $ | 464.0 |
| (1) | Represents the carrying amount of the NCM common units that were previously received under the annual 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 ESA ending in February 2037. |
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