IMPAIRMENT OF LONG-LIVED AND OTHER ASSETS

12 Months Ended

Dec. 31, 2023

Impairment or Disposal of Tangible Assets Disclosure [Abstract]

IMPAIRMENT OF LONG-LIVED AND OTHER ASSETS

12.IMPAIRMENT OF LONG-LIVED AND OTHER ASSETS

The Company reviews for impairment indicators related to its long-lived assets on a quarterly basis and goodwill on an annual basis or whenever events or changes in circumstances indicate the carrying amount of those assets may not be fully recoverable. The Company performed a quantitative impairment analysis on its goodwill, tradename intangible assets and other long-lived assets, including theatre properties and right-of-use assets, as of December 31, 2023. See Note 1 for a discussion of the Company’s impairment policy and a description of qualitative and quantitative impairment assessments.

Below is a summary of impairment charges for the periods indicated:

	Year Ended
	December 31,
	2021	2022	2023
U.S. segment
Theatre properties	$6.4	$19.7	$6.6
Theatre operating lease right-of-use assets	6.8	34.0	7.1
Investment in NCM (1)	—	113.2	0.7
Other	—	3.9	—
U.S. total	13.2	170.8	14.4
International segment
Theatre properties	4.0	2.2	0.7
Theatre operating lease right-of-use assets	3.2	1.1	1.5
Intangible assets, net	0.4	—	—
International total	7.6	3.3	2.2
Total impairment	$20.8	$174.1	$16.6

(1)See discussion at Investment in National CineMedia in Note 9.

For the years ended December 31, 2021, 2022 and 2023, impairment charges were primarily due to the unprecedented impact of the COVID-19 pandemic on the theatrical exhibition industry and its ongoing recovery, as discussed in Note 3.