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Investment in National CineMedia Inc. (Tables)
 6 Months Ended
Jun. 30, 2024
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 June 30, 2024 and when the Company expects to recognize this revenue.

 

 

 

Twelve Months Ended June 30,

 

 

 

 

 

 

 

Remaining Performance Obligations

 

 

2025

 

 

2026

 

 

Thereafter

 

 

Total

 

Other deferred revenue

 

 

$

200.4

 

 

$

26.5

 

 

$

—

 

 

$

226.9

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

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

 

 

Twelve Months Ended June 30,

 

 

 

 

 

 

 

Remaining Maturity

 

2025

 

 

2026

 

 

2027

 

 

2028

 

 

2029

 

 

Thereafter

 

 

Total

 

NCM screen advertising advances (1)

 

$

10.8

 

 

$

11.6

 

 

$

12.4

 

 

$

13.3

 

 

$

14.2

 

 

$

261.5

 

 

$

323.8

 
(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 Screen Advertising Advances

 

Other
Revenue

 

Interest
Expense - NCM

 

Cash
Received (4)

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance at January 1, 2024

 

$

18.1

 

$

(328.4

)

$

—

 

$

—

 

$

—

 

Screen rental revenue earned under ESA (1)

 

 

—

 

 

—

 

 

(10.4

)

 

—

 

 

8.2

 

Interest accrued related to significant financing component

 

 

—

 

 

(11.1

)

 

—

 

 

11.1

 

 

—

 

Receipt of common units in NCM due to annual common unit adjustment (2)

 

 

—

 

 

(0.5

)

 

—

 

 

—

 

 

—

 

Change in unrealized gain on fair market adjustment of investment in NCMI (3)

 

 

1.1

 

 

—

 

 

—

 

 

—

 

 

—

 

Amortization of screen advertising advances

 

 

—

 

 

16.2

 

 

(16.2

)

 

—

 

 

—

 

Balance as of and for the six months ended June 30, 2024

 

$

19.2

 

$

(323.8

)

$

(26.6

)

$

11.1

 

$

8.2

 

 

(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 $3.7.
(2)
See Common Unit Adjustments below.
(3)
See Investment in National CineMedia below.
(4)
The Company had a receivable from NCM of $2.2 as of June 30, 2024.