Impairment of Long-Lived Assets

6 Months Ended

Jun. 30, 2025

Impairment or Disposal of Tangible Assets Disclosure [Abstract]

Impairment of Long-Lived Assets

11.Impairment of Long-Lived Assets

The Company performed a qualitative impairment analysis on its goodwill and tradename intangible assets as of June 30, 2025. As a result of the qualitative assessment, the Company noted no impairment indicators related to these assets as of June 30, 2025.

The qualitative impairment analysis, by asset class, is described below:

•Goodwill – Considers economic and market conditions, industry trading multiples and the impact of recent developments that would impact the estimated fair values as determined in the most recent quantitative assessment.

•Tradename Intangible Assets – Considers industry and market conditions and recent developments that may impact the revenue forecasts and other estimates as compared with the most recent quantitative assessment.

The Company also performed a qualitative impairment analysis on its other long-lived assets, including theater properties and right-of-use assets, as of June 30, 2025 to determine whether indicators of potential impairment existed at the theater level, which is the level at which the Company tests its other long-lived assets. The qualitative analysis considers relevant industry, economic and market conditions, industry trading multiples and recent developments that would impact the Company’s estimates of future cash flows, which are the primary estimate of fair market value at the theater level. The Company then performed a quantitative impairment analysis for those theaters for which indicators of potential impairment were identified.

See Note 1 and Note 11 to the consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024, filed February 19, 2025, for further discussion of the Company’s impairment policy and a description of the qualitative and quantitative impairment assessments performed.

The following table summarizes the Company’s impairment charges for the three and six months ended June 30, 2025. There were no impairment charges recorded for long-lived assets, goodwill and intangible assets for the three and six months ended June 30, 2024.

	Three and Six Months Ended June 30, 2025
U.S. Segment
Theater properties	$	—
Theater operating lease right-of-use assets		—
U.S. total		—
International segment
Theater properties		0.4
Theater operating lease right-of-use assets		1.2
International total		1.6
Total Impairment	$	1.6