General (Tables)

6 Months Ended

Jun. 25, 2020

General

Schedule of Earnings Per Share, Basic and Diluted

The following table illustrates the computation of Common Stock and Class B Common Stock basic and diluted net earnings (loss) per share for net earnings (loss) and provides a reconciliation of the number of weighted-average basic and diluted shares outstanding:

	13 Weeks		13 Weeks		26 Weeks		26 Weeks
		Ended		Ended	Ended		Ended
	June 25, 2020		June 27, 2019		June 25, 2020		June 27, 2019
	(in thousands, except per share data)
Numerator:
Net earnings (loss) attributable to The Marcus Corporation	$	(27,029)	$	18,066	$	(46,381)	$	19,926
Denominator:
Denominator for basic EPS		31,061		30,897		31,018		30,390
Effect of dilutive employee stock options		—		504		—		558
Denominator for diluted EPS		31,061		31,401		31,018		30,948
Net earnings (loss) per share - basic:
Common Stock	$	(0.89)	$	0.60	$	(1.53)	$	0.68
Class B Common Stock	$	(0.81)	$	0.54	$	(1.39)	$	0.59
Net earnings (loss) per share - diluted:
Common Stock	$	(0.89)	$	0.58	$	(1.53)	$	0.64
Class B Common Stock	$	(0.81)	$	0.54	$	(1.39)	$	0.59

Schedule of Stockholders Equity

													Shareholders’
													Equity
									Accumulated				Attributable
			Class B		Capital				Other				to The		Non-
	Common		Common		in Excess		Retained		Comprehensive		Treasury		Marcus		controlling		Total
	Stock		Stock		of Par		Earnings		Loss		Stock		Corporation		Interests		Equity
BALANCES AT DECEMBER 26, 2019	$	23,254	$	7,936	$	145,549	$	461,884	$	(12,648)	$	(4,540)	$	621,435	$	23	$	621,458
Cash Dividends:
$.15 Class B Common Stock		—		—		—		(1,224)		—		—		(1,224)		—		(1,224)
$.16 Common Stock		—		—		—		(3,921)		—		—		(3,921)		—		(3,921)
Exercise of stock options		—		—		5		—		—		40		45		—		45
Purchase of treasury stock		—		—		—		—		—		(274)		(274)		—		(274)
Savings and profit-sharing contribution		—		—		299		—		—		1,016		1,315		—		1,315
Reissuance of treasury stock		—		—		2		—		—		46		48		—		48
Issuance of non-vested stock		—		—		(149)		—		—		149		—		—		—
Shared-based compensation		—		—		988		—		—		—		988		—		988
Conversions of Class B Common Stock		10		(10)		—		—		—		—		—		—		—
Comprehensive income (loss)		—		—		—		(19,352)		(547)		—		(19,899)		(148)		(20,047)
BALANCES AT MARCH 26, 2020	$	23,264	$	7,926	$	146,694	$	437,387	$	(13,195)	$	(3,563)	$	598,513	$	(125)	$	598,388
Exercise of stock options		—		—		(4)		—		—		15		11		—		11
Reissuance of treasury stock		—		—		(17)		—		—		112		95		—		95
Issuance of non-vested stock		—		—		(172)		—		—		172		—		—		—
Shared-based compensation		—		—		1,190		—		—		—		1,190		—		1,190
Other		—		—		(1)		1		—		—		—		—		—
Comprehensive income (loss)		—		—		—		(27,029)		200		—		(26,829)		125		(26,704)
BALANCES AT JUNE 25, 2020	$	23,264	$	7,926	$	147,690	$	410,359	$	(12,995)	$	(3,264)	$	572,980	$	—	$	572,980

													Shareholders’
													Equity
									Accumulated				Attributable
			Class B		Capital				Other				to The		Non-
	Common		Common		in Excess		Retained		Comprehensive		Treasury		Marcus		controlling		Total
	Stock		Stock		of Par		Earnings		Loss		Stock		Corporation		Interests		Equity
BALANCES AT DECEMBER 27, 2018	$	22,843	$	8,347	$	63,830	$	439,178	$	(6,758)	$	(37,431)	$	490,009	$	110	$	490,119
Cash Dividends:
$.15 Class B Common Stock		—		—		—		(1,183)		—		—		(1,183)		—		(1,183)
$.16 Common Stock		—		—		—		(3,633)		—		—		(3,633)		—		(3,633)
Exercise of stock options		—		—		(78)		—		—		532		454		—		454
Purchase of treasury stock		—		—		—		—		—		(428)		(428)		—		(428)
Savings and profit-sharing contribution		—		—		810		—		—		371		1,181		—		1,181
Reissuance of treasury stock		—		—		31		—		—		16		47		—		47
Issuance of non-vested stock		—		—		(127)		—		—		127		—		—		—
Shared-based compensation		—		—		777		—		—		—		777		—		777
Reissuance of treasury stock-acquisition		—		—		77,960		—		—		31,237		109,197		—		109,197
Other		—		—		(109)		—		—		—		(109)		—		(109)
Conversions of Class B Common Stock		411		(411)		—		—		—		—		—		—		—
Distributions to noncontrolling interest		—		—		—		—		—		—		—		(60)		(60)
Comprehensive income (loss)		—		—		—		1,860		(297)		—		1,563		(66)		1,497
BALANCES AT MARCH 28, 2019	$	23,254	$	7,936	$	143,094	$	436,222	$	(7,055)	$	(5,576)	$	597,875	$	(16)	$	597,859
Cash Dividends:
$.15 Class B Common Stock		—		—		—		(1,155)		—		—		(1,155)		—		(1,155)
$.16 Common Stock		—		—		—		(3,675)		—		—		(3,675)		—		(3,675)
Exercise of stock options		—		—		(27)		—		—		477		450		—		450
Purchase of treasury stock		—		—		—		—		—		(213)		(213)		—		(213)
Reissuance of treasury stock		—		—		182		—		—		96		278		—		278
Issuance of non-vested stock		—		—		(142)		—		—		142		—		—		—
Shared-based compensation		—		—		949		—		—		—		949		—		949
Conversions of Class B Common Stock		—		—		—		—		—		—		—		—		—
Distributions to noncontrolling interest		—		—		—		—		—		—		—		(35)		(35)
Comprehensive income (loss)		—		—		—		18,066		(353)		—		17,713		171		17,884
BALANCES AT JUNE 27, 2019	$	23,254	$	7,936	$	144,056	$	449,458	$	(7,408)	$	(5,074)	$	612,222	$	120	$	612,342

Schedule of Accumulated Other Comprehensive Income (Loss)

	June 25,		December 26,
	2020		2019
	(in thousands)
Unrecognized loss on interest rate swap agreements	$	(1,594)	$	(882)
Net unrecognized actuarial loss for pension obligation		(11,401)		(11,766)
	$	(12,995)	$	(12,648)

Schedule of Defined Benefit Plan

	13 Weeks		13 Weeks		26 Weeks		26 Weeks
	Ended		Ended		Ended		Ended
	June 25, 2020		June 27, 2019		June 25, 2020		June 27, 2019
	(in thousands)
Service cost	$	273	$	209	$	547	$	418
Interest cost		344		371		686		742
Net amortization of prior service cost and actuarial loss		247		109		495		218
Net periodic pension cost	$	864	$	689	$	1,728	$	1,378

Schedule of Disaggregation of Revenue

	13 Weeks Ended June 25, 2020
	Reportable Segment
	Theatres		Hotels/Resorts		Corporate		Total
Theatre admissions	$	154	$	—	$	—	$	154
Rooms		—		857		—		857
Theatre concessions		1,104		—		—		1,104
Food and beverage		—		586		—		586
Other revenues (1)		557		2,571		169		3,297
Cost reimbursements		34		1,901		—		1,935
Total revenues	$	1,849	$	5,915	$	169	$	7,933

	26 Weeks Ended June 25, 2020
	Reportable Segment
	Theatres		Hotels/Resorts		Corporate		Total
Theatre admissions	$	55,549	$	—	$	—	$	55,549
Rooms		—		17,846		—		17,846
Theatre concessions		47,034		—		—		47,034
Food and beverage		—		14,200		—		14,200
Other revenues (1)		8,260		13,555		258		22,073
Cost reimbursements		217		10,474		—		10,691
Total revenues	$	111,060	$	56,075	$	258	$	167,393

(1) Included in other revenues is an immaterial amount related to rental income that is not considered revenue from contracts with customers.

The disaggregation of revenues by business segment for the 13 and 26 weeks ended June 27, 2019 is as follows (in thousands):

	13 Weeks Ended June 27, 2019
	Reportable Segment
	Theatres		Hotels/Resorts		Corporate		Total
Theatre admissions	$	83,055	$	—	$	—	$	83,055
Rooms		—		28,194		—		28,194
Theatre concessions		67,920		—		—		67,920
Food and beverage		—		18,615		—		18,615
Other revenues (1)		11,175		11,216		142		22,533
Cost reimbursements		237		11,946		—		12,183
Total revenues	$	162,387	$	69,971	$	142	$	232,500

	26 Weeks Ended June 27, 2019
	Reportable Segment
	Theatres		Hotels/Resorts		Corporate		Total
Theatre admissions	$	142,024	$	—	$	—	$	142,024
Rooms		—		47,132		—		47,132
Theatre concessions		115,075		—		—		115,075
Food and beverage		—		34,398		—		34,398
Other revenues (1)		19,744		23,383		235		43,362
Cost reimbursements		429		20,119		—		20,548
Total revenues	$	277,272	$	125,032	$	235	$	402,539

(1) Included in other revenues is an immaterial amount related to rental income that is not considered revenue from contracts with customers.