XML 30 R14.htm IDEA: XBRL DOCUMENT v3.20.2
Goodwill And Intangible Assets
9 Months Ended
Sep. 30, 2020
Goodwill And Intangible Assets [Abstract]  
Goodwill And Intangible Assets Note 8 – Goodwill and Intangible Assets

The table below summarizes goodwill by business segment as of September 30, 2020 and December 31, 2019.

(Dollars in thousands)

Cinema

Real Estate

Total

Balance at December 31, 2019

$

21,224

$

5,224

$

26,448

Change in goodwill due to a purchase of a business combination

120

120

Foreign currency translation adjustment

31

31

Balance at September 30, 2020

$

21,375

$

5,224

$

26,599

Our Company is required to test goodwill and other intangible assets for impairment on an annual basis and, if current events or circumstances require, on an interim basis. Our Company has performed an interim goodwill assessment as described in Note 3 – Impact of COVID-19 Pandemic and Liquidity. Our next annual evaluation of goodwill and other intangible assets is scheduled during the fourth quarter of 2020. To test the impairment of goodwill, our Company compares the fair value of each reporting unit to its carrying amount, including the goodwill, to determine if there is potential goodwill impairment. A reporting unit is generally one level

below the operating segment. As of September 30, 2020, we were not aware that any events indicating potential impairment of goodwill had occurred outside of those described at Note 3 – Impact of COVID-19 Pandemic and Liquidity.

The tables below summarize intangible assets other than goodwill, as of September 30, 2020 and December 31, 2019, respectively.

As of September 30, 2020

(Dollars in thousands)

Beneficial
Leases

Trade
Name

Other
Intangible
Assets

Total

Gross carrying amount

$

12,309

$

9,062

$

4,752

$

26,123

Less: Accumulated amortization

(10,237)

(7,301)

(4,241)

(21,779)

Net intangible assets other than goodwill

$

2,072

$

1,761

$

511

$

4,344

As of December 31, 2019

(Dollars in thousands)

Beneficial
Leases

Trade
Name

Other
Intangible
Assets

Total

Gross carrying amount

$

15,048

$

7,258

$

3,145

$

25,451

Less: Accumulated amortization

(14,496)

(5,449)

(1,186)

(21,131)

Net intangible assets other than goodwill

$

552

$

1,809

$

1,959

$

4,320

Beneficial leases obtained in business combinations where we are the landlord are amortized over the life of the relevant leases. Trade names are amortized based on the accelerated amortization method over their estimated useful life of 30 years, and other intangible assets are amortized over their estimated useful lives of up to 30 years (except for transferrable liquor licenses, which are indefinite-lived assets). The table below summarizes the amortization expense of intangible assets for the quarter and nine months ended September 30, 2020.

Quarter Ended

Nine Months Ended

September 30,

September 30,

(Dollars in thousands)

2020

2019

2020

2019

Beneficial lease amortization

$

27

$

60

$

77

$

224

Other amortization

279

106

483

311

Total intangible assets amortization

$

306

$

166

$

560

$

535