Quarterly Results

12 Months Ended

Dec. 31, 2020

Quarterly Financial Information Disclosure [Abstract]

Quarterly Results

Note 20 — Quarterly Results (Unaudited)

Despite a concentration of holidays in the fourth quarter of the year, as a result of the Company’s expansive product lines and customer base and increased promotional activities, the impact of seasonality on the quarterly results of the Company’s wholesale operations has been limited. However, due to Halloween and Christmas, the inventory balances of the Company’s wholesale operations are slightly higher during the third quarter than during the remainder of the year. Additionally, the promotional activities of the Company’s wholesale business, including special dating terms, particularly with respect to Halloween products sold to retailers and other distributors, result in slightly higher accounts receivable balances during the third quarter. The Company’s retail operations are subject to significant seasonal variations. Historically, the Company’s retail operations have realized a significant portion of their revenues, cash flow and net income in the fourth quarter of the year, principally due to Halloween sales in October and, to a lesser extent, year-end holiday sales.

The following table sets forth our historical revenues, gross profit, (loss) income from operations, net (loss) income, net (loss) income attributable to common shareholders of Party City Holdco Inc., and net (loss) income per share attributable to common shareholders of Party City Holdco Inc.—Basic and Diluted for each of the following quarters:

	For the Three Months Ended,
2020	March 31,			June 30,			September 30,			December 31,
Revenues:
Net sales	$	412,461		$	253,646		$	532,053		$	645,284
Royalties and franchise fees		1,582			1,045			1,722			2,897
Gross profit		115,704			15,739			176,130			167,421
(Loss) income from operations		(611,370	)		(126,794	)		(27,099	)		(112,238	)
Net (loss) income		(541,668	)		(130,059	)		239,665			(96,395	)
Net (loss) income attributable to common    shareholders of Party City Holdco Inc.		(541,513	)		(130,015	)		239,707			(96,417	)
Net (loss) income per share attributable to    common shareholders of Party City Holdco    Inc.—Basic	$	(5.80	)	$	(1.39	)	$	2.25		$	(0.88	)
Net (loss) income per share attributable to    common shareholders of Party City Holdco    Inc.—Diluted	$	(5.80	)	$	(1.39	)	$	2.24		$	(0.88	)

	For the Three Months Ended,
2019:	March 31,			June 30,		September 30,			December 31,
Revenues:
Net sales	$	511,102		$	561,702	$	538,345		$	728,361
Royalties and franchise fees		2,014			2,189		1,886			3,190
Gross profit		172,060			208,646		164,932			293,239
(Loss) Income from operations		(10,297	)		97,485		(277,526	)		(227,055	)
Net (loss) income		(30,289	)		48,005		(281,745	)		(268,829	)
Net (loss) income attributable to common    shareholders of Party City Holdco Inc.		(30,218	)		48,074		(281,533	)		(268,818	)
Net (loss) income per share attributable to common    shareholders of Party City Holdco    Inc.—Basic	$	(0.32	)	$	0.52	$	(3.02	)	$	(2.88	)
Net (loss) income per share attributable to common    shareholders of Party City Holdco    Inc.—Diluted	$	(0.32	)	$	0.51	$	(3.02	)	$	(2.88	)