Lease Accounting (Tables)

12 Months Ended

Dec. 31, 2021

Leases [Abstract]

Schedule of Operating and Finance Right-of-Use Assets and Lease Liabilities

The following table represents the operating and finance right-of-use assets and lease liabilities as of the periods indicated.

		As of		As of
Leases	Classification	December 31, 2020		December 31, 2021
Assets (1)
Operating lease assets	Operating lease assets	$	1,278,191	$	1,230,790
Finance lease assets	Theatre properties and equipment, net of accumulated depreciation (2)		99,195		80,513
Total lease assets		$	1,377,386	$	1,311,303
Liabilities (1)
Current
Operating	Current portion of operating lease obligations	$	208,593	$	217,092
Finance	Current portion of finance lease obligations		16,407		14,605
Noncurrent
Operating	Operating lease obligations, less current portion		1,138,142		1,078,260
Finance	Finance lease obligations, less current portion		124,609		102,571
Total lease liabilities		$	1,487,751	$	1,412,528

(1)The operating lease right-of-use assets and liabilities recorded on the Company’s consolidated balance sheets generally do not include renewal options that have not yet been exercised. The Company does not consider a lease renewal exercise as reasonably certain until immediately before the necessary notification is provided to the landlord after consideration of market conditions and performance of the theatre.

(2)Finance lease assets are net of accumulated amortization of $47,961 and $57,778 as of December 31, 2020 and 2021, respectively.

Schedule of Aggregate Lease Costs by Lease Classification

The following table represents the Company’s aggregate lease costs, by lease classification, for the periods indicated.

		Year Ended		Year Ended		Year Ended
Lease Cost	Classification	December 31, 2019		December 31, 2020		December 31, 2021
Operating lease costs
Equipment (1)	Utilities and other	$	9,172	$	3,324	$	2,342
Real Estate (2)(3)	Facility lease expense		346,222		275,056		280,968
Total operating lease costs		$	355,394	$	278,380	$	283,310
Finance lease costs
Depreciation of leased assets	Depreciation and amortization	$	14,734	$	14,662	$	12,634
Interest on lease liabilities	Interest expense		7,786		7,014		5,916
Total finance lease costs		$	22,520	$	21,676	$	18,550

(1)Includes approximately $4,700, $(465) and $1,842 of short-term lease payments for the years ended December 31, 2019, 2020 and 2021, respectively. The amount for the year ended December 31, 2020 was impacted by i) a decrease in short term lease payments while theatres were closed and ii) rent abatements on leases that were not recalculated in accordance with the FASB guidance discussed above, which resulted in variable rent credits in the amount of the rent abatements.

(2)Includes approximately $68,799, $7,058 and $11,791 of variable lease payments based on a change in index, such as CPI or inflation, variable payments based on revenues or attendance and variable common area maintenance costs for the years ended December 31, 2019, 2020 and 2021, respectively. The amount for the year ended December 31, 2020 was impacted by rent abatements on leases that were not recalculated in accordance with the FASB guidance discussed above, which resulted in variable rent credits in the amount of the rent abatements.

Approximately $1,614, $1,445 and $1,304 of lease payments are included in general and administrative expenses primarily related to office leases for the years ended December 31, 2019, 2020 and 2021, respectively.

Schedule of Maturity of Lease Liabilities by Lease Classification

The following table represents the maturity of lease liabilities, by lease classification, as of December 31, 2021.

	Operating		Finance
Years Ending	Leases		Leases		Total
2022 (1)	$	274,005	$	19,820	$	293,825
2023		252,772		19,131		271,903
2024		220,455		18,050		238,505
2025		193,375		16,453		209,828
2026		156,573		11,984		168,557
After 2026		447,815		58,694		506,509
Total lease payments	$	1,544,995	$	144,132	$	1,689,127
Less: Interest		249,643		26,956		276,599
Present value of lease liabilities	$	1,295,352	$	117,176	$	1,412,528

(1) Amounts do not include rent payments deferred under amendments as discussed at Lease Deferrals and Abatements above.

Schedule of Weighted-Average Remaining Lease Term and Discount Rate

The following table represents the weighted-average remaining lease term and discount rate, disaggregated by lease classification, as of December 31, 2021.

	As of
Lease Term and Discount Rate	December 31, 2021
Weighted-average remaining lease term (years) (1)
Operating leases - equipment		2.9
Operating leases - real estate		7.3
Finance leases - equipment		3.4
Finance leases - real estate		8.9
Weighted-average discount rate (2)
Operating leases - equipment		3.8	%
Operating leases - real estate		4.9	%
Finance leases - equipment		4.7	%
Finance leases - real estate		4.9	%

(1)The lease assets and liabilities recorded on the Company’s consolidated balance sheets generally do not include renewal options that have not yet been executed. The Company does not consider a lease renewal exercise as reasonably certain until immediately before the necessary notification is provided to the landlord after consideration of market conditions and performance of the theatre.

(2)The discount rate for each lease represents the incremental borrowing rate at which the Company would borrow, on a collateralized basis, over a similar term and at an amount equal to the lease payments in a similar economic environment.

Schedule of Minimum Cash Lease Payments

The following table represents the minimum cash lease payments included in the measurement of lease liabilities and the non-cash addition of right-of-use assets for the periods presented.

	Year Ended		Year Ended		Year Ended
Other Information	December 31, 2019		December 31, 2020		December 31, 2021
Cash paid for amounts included in the measurement of lease liabilities
Cash outflows for operating leases	$	281,895	$	271,787	$	269,677
Cash outflows for finance leases - operating activities	$	7,576	$	6,985	$	5,910
Cash outflows for finance leases - financing activities	$	14,600	$	15,432	$	14,689
Non-cash amount of leased assets obtained in exchange for:
Operating lease liabilities	$	114,113	$	132,717	$	180,055
Finance lease liabilities	$	21,535	$	—	$	725