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Investment in NCMI/NCM (Tables)
 9 Months Ended
Sep. 30, 2023
Aggregate Amount of Transaction Price Allocated to Performance Obligationt that are Unsatisfied and Expected to be Recognized

The table below summarizes the aggregate amount of the transaction price allocated to performance obligations that are unsatisfied as of September 30, 2023 and when the Company expects to recognize this revenue.

 

 

 

Twelve Months Ended September 30,

 

 

 

 

 

 

 

Remaining Performance Obligations

 

 

2024

 

 

2025

 

 

Thereafter

 

 

Total

 

Other deferred revenue

 

 

$

176.7

 

 

$

22.8

 

 

$

—

 

 

$

199.5

 
N C M Screen Advertising Advances  
Aggregate Amount of Transaction Price Allocated to Performance Obligationt that are Unsatisfied and Expected to be Recognized

The recognition of revenue related to the NCM screen advertising advances is recorded on a straight-line basis over the term of the amended ESA through February 2041. The table below summarizes when the Company expects to recognize this deferred revenue:

 

 

Twelve Months Ended September 30,

 

 

 

 

 

 

 

Remaining Maturity

 

2024

 

 

2025

 

 

2026

 

 

2027

 

 

2028

 

 

Thereafter

 

 

Total

 

NCM screen advertising advances (1)

 

$

10.3

 

 

$

11.0

 

 

$

11.8

 

 

$

12.6

 

 

$

13.4

 

 

$

271.8

 

 

$

330.9

 
(1)
Amounts are net of the estimated interest to be accrued for the periods presented.
NCM  
Summary of Activity With Equity Investee Included in the Company's Condensed Consolidated Financial Statements

Below is a summary of activity with NCMI and NCM included in each of Holdings' and CUSA's condensed consolidated financial statements:

 

 

Investment
in NCMI/NCM

 

NCM Screen Advertising Advances

 

Equity in
Loss (2)

 

Other
Revenue

 

Interest
Expense - NCM

 

Cash
Received (3)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance as of January 1, 2023

 

$

9.6

 

$

(338.2

)

$

—

 

$

—

 

$

—

 

$

—

 

Screen rental revenue earned under ESA (1)

 

 

—

 

 

—

 

 

—

 

 

16.0

 

 

—

 

 

10.4

 

Interest accrued related to significant financing component

 

 

—

 

 

(17.0

)

 

—

 

 

—

 

 

17.0

 

 

—

 

Equity in loss (2)

 

 

(3.2

)

 

—

 

 

(3.2

)

 

—

 

 

—

 

 

—

 

Redemption of common units of NCM for common stock of NCMI (4)

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

Impairment of investment in NCMI

 

 

(0.7

)

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

Unrealized gain on fair market value adjustment of investment in NCMI (4)

 

 

13.9

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

Amortization of screen advertising advances

 

 

—

 

 

24.3

 

 

—

 

 

(24.3

)

 

—

 

 

—

 

Balance as of and for the nine months ended September 30, 2023

 

$

19.6

 

$

(330.9

)

$

(3.2

)

$

(8.3

)

$

17.0

 

$

10.4

 
(1)
Amounts include the per patron and per digital screen theatre access fees, net of amounts due to NCM for on-screen advertising time provided to the Company's beverage concessionaire of approximately $7.1.
(2)
Equity in loss was recorded through April 11, 2023, the date NCM filed its bankruptcy petition, after which the Company applied the fair value accounting method as discussed below.
(3)
The Company had a receivable from NCM of $5.6 as of September 30, 2023.
(4)
See Investment in National CineMedia below.