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Segment Reporting (Tables)
 12 Months Ended
Dec. 31, 2024
Summary Of Results Of Operations For Principal Business Segments

2024

2023

2022

(Dollars in thousands)

Cinema

Real
‎Estate

Total

Cinema

Real
‎Estate

Total

Cinema

Real
‎Estate

Total

Revenue - third party

$

195,130

$

15,397

$

210,527

$

207,641

$

15,103

$

222,744

$

191,321

$

11,794

$

203,115

Inter-segment revenue (1)

—

4,609

4,609

—

4,767

4,767

—

5,023

5,023

Total segment revenue

195,130

20,006

215,136

207,641

19,870

227,511

191,321

16,817

208,138

Operating expense

Operating Expense - Third Party

(179,377)

(9,243)

(188,620)

(187,418)

(8,763)

(196,181)

(178,768)

(8,947)

(187,715)

Inter-Segment Operating Expenses (1)

(4,609)

—

(4,609)

(4,767)

—

(4,767)

(5,023)

—

(5,023)

Total of services and products (excluding depreciation and amortization)

(183,986)

(9,243)

(193,229)

(192,185)

(8,763)

(200,948)

(183,791)

(8,947)

(192,738)

Depreciation and amortization

(10,232)

(5,160)

(15,392)

(11,335)

(6,376)

(17,711)

(13,351)

(6,495)

(19,846)

Impairment of long-lived assets

—

—

—

—

—

—

(1,549)

—

(1,549)

General and administrative expense

(3,709)

(924)

(4,633)

(3,997)

(940)

(4,937)

(4,346)

(869)

(5,215)

Total operating expense

(197,927)

(15,327)

(213,254)

(207,517)

(16,079)

(223,596)

(203,037)

(16,311)

(219,348)

Segment operating income (loss)

$

(2,797)

$

4,679

$

1,882

$

124

$

3,791

$

3,915

$

(11,716)

$

506

$

(11,210)

(1)Inter-segment Revenues and Operating Expense relates to the internal charge between the two segments where the cinema operates within real estate owned within the group.

Reconciliation To Net Income Attributable To Common Shareholders

(Dollars in thousands)

2024

2023

2022

Segment operating income (loss)

$

1,882

$

3,915

$

(11,210)

Unallocated corporate expense:

Depreciation and amortization expense

(387)

(711)

(1,072)

General and administrative expense

(15,528)

(15,235)

(16,201)

Interest expense, net

(21,154)

(19,418)

(14,392)

Equity earnings (loss) of unconsolidated joint ventures

(387)

456

271

Gain (loss) on sale of assets

(1,371)

562

(54)

Other (expense) income

1,528

(164)

6,817

Income (loss) before income taxes

$

(35,417)

$

(30,595)

$

(35,841)
Summary Of Assets

December 31,

(Dollars in thousands)

2024

2023

By segment:

Cinema

$

191,008

$

230,337

Real estate

207,044

236,213

Corporate (1)

72,959

66,501

Total assets

$

471,011

$

533,051

By country:

United States

$

264,284

$

291,581

Australia

167,667

193,899

New Zealand

39,060

47,571

Total assets

$

471,011

$

533,051

(1)Corporate Assets includes cash and cash equivalents of $12.3 million and $12.9 million as of December 31, 2024 and 2023, respectively.
Schedule Of Operating Property By Country

December 31,

(Dollars in thousands)

2024

2023

United States

$

146,531

$

153,545

Australia

59,081

90,221

New Zealand

9,082

18,651

Total operating property

$

214,694

$

262,417
Summary Of Capital Expenditures

(Dollars in thousands)

2024

2023

2022

Segment capital expenditures

$

2,028

$

4,711

$

9,780

Corporate capital expenditures

—

—

—

Total capital expenditures

$

2,028

$

4,711

$

9,780
Cinema Exhibition [Member]  
Reconciliation To Net Income Attributable To Common Shareholders

we

Year Ended

(Dollars in thousands)

December 31, 2024

December 31, 2023

December 31, 2022

REVENUE

United States

Admissions revenue

$

55,782 

$

63,662 

$

53,495

Concessions revenue

34,314 

38,884 

33,859 

Advertising and other revenue

9,842 

11,252 

9,729 

$

99,938 

$

113,798 

$

97,083

Australia

Admissions revenue

$

48,186 

$

48,630 

$

48,734 

Concessions revenue

27,670 

26,119 

26,276 

Advertising and other revenue

6,176 

5,276 

4,882 

$

82,032 

$

80,025 

$

79,892 

New Zealand

Admissions revenue

$

7,663

$

8,509 

$

8,841 

Concessions revenue

4,375 

4,585 

4,728 

Advertising and other revenue

1,122 

724 

777 

$

13,160

$

13,818 

$

14,346 

Total revenue

$

195,130

$

207,641 

$

191,321

OPERATING EXPENSE

United States

Film rent and advertising cost

$

(30,315)

$

(34,182)

$

(29,975)

Food & beverage cost

(9,071)

(10,070)

(8,975)

Occupancy expense

(22,516)

(25,090)

(24,792)

Labor cost

(17,323)

(17,397)

(15,357)

Utilities

(5,973)

(6,856)

(7,087)

Cleaning and maintenance

(6,664)

(8,155)

(8,832)

Other operating expenses

(7,948)

(9,459)

(7,762)

$

(99,810)

$

(111,209)

$

(102,780)

Australia

Film rent and advertising cost

$

(22,124)

$

(21,814)

$

(22,281)

Food & beverage cost

(6,141)

(5,609)

(5,404)

Occupancy expense

(18,086)

(17,207)

(17,356)

Labor cost

(14,040)

(13,243)

(13,037)

Utilities

(2,861)

(2,545)

(2,455)

Cleaning and maintenance

(5,069)

(4,696)

(4,574)

Other operating expenses

(3,597)

(3,313)

(2,895)

$

(71,918)

$

(68,427)

$

(68,002)

New Zealand

Film rent and advertising cost

$

(3,474)

$

(3,858)

$

(3,990)

Food & beverage cost

(947)

(911)

(915)

Occupancy expense

(3,106)

(3,081)

(3,140)

Labor cost

(2,385)

(2,417)

(2,526)

Utilities

(394)

(435)

(464)

Cleaning and maintenance

(886)

(971)

(923)

Other operating expenses

(1,066)

(876)

(1,051)

$

(12,258)

$

(12,549)

$

(13,009)

Total operating expense

$

(183,986)

$

(192,185)

$

(183,791)

DEPRECIATION, AMORTIZATION, GENERAL AND ADMINISTRATIVE EXPENSE

United States

Depreciation and amortization

$

(5,011)

$

(5,911)

$

(7,194)

Impairment expense

—

—

(1,549)

General and administrative expense

(2,368)

(2,502)

(2,749)

$

(7,379)

$

(8,413)

$

(11,492)

Australia

Depreciation and amortization

$

(4,763)

$

(4,824)

$

(5,348)

General and administrative expense

(1,325)

(1,495)

(1,597)

$

(6,088)

$

(6,319)

$

(6,945)

New Zealand

Depreciation and amortization

$

(458)

$

(600)

$

(809)

General and administrative expense

(16)

—

—

$

(474)

$

(600)

$

(809)

Total depreciation, amortization, general and administrative expense

$

(13,941)

$

(15,332)

$

(19,246)

OPERATING INCOME (LOSS) - CINEMA

United States

$

(7,251)

$

(5,824)

$

(17,189)

Australia

4,026 

5,279 

4,945 

New Zealand

428 

669

528

Total Cinema operating income (loss)

$

(2,797)

$

124

$

(11,716)
Real Estate [Member]  
Reconciliation To Net Income Attributable To Common Shareholders

Year Ended

(Dollars in thousands)

December 31, 2024

December 31, 2023

December 31, 2022

REVENUE

United States

Live theater rental and ancillary income

$

2,024 

$

1,803 

$

1,729 

Property rental income

4,221 

4,395 

1,308 

6,245 

6,198 

3,037 

Australia

Property rental income

12,341 

12,163 

12,246 

New Zealand

Property rental income

1,420 

1,509 

1,534 

Total revenue

$

20,006 

$

19,870 

$

16,817 

OPERATING EXPENSE

United States

Live theater cost

$

(1,024)

$

(765)

$

(923)

Occupancy expense

(694)

(789)

(787)

Utilities

(116)

(184)

(123)

Cleaning and maintenance

(183)

(170)

(108)

Other operating expenses

(1,096)

(1,237)

(1,056)

$

(3,113)

$

(3,145)

$

(2,997)

Australia

Occupancy expense

$

(1,988)

$

(1,956)

$

(2,057)

Labor cost

(247)

(218)

(256)

Utilities

(72)

(73)

(81)

Cleaning and maintenance

(983)

(927)

(1,058)

Other operating expenses

(929)

(892)

(779)

$

(4,219)

$

(4,066)

$

(4,231)

New Zealand

Occupancy expense

$

(474)

$

(418)

$

(401)

Labor cost

(22)

(99)

(99)

Utilities

(62)

(53)

(52)

Cleaning and maintenance

(44)

(33)

(71)

Other operating expenses

(1,309)

(949)

(1,096)

(1,911)

(1,552)

(1,719)

Total operating expense

$

(9,243)

$

(8,763)

$

(8,947)

DEPRECIATION, AMORTIZATION, GENERAL AND ADMINISTRATIVE EXPENSE

United States

Depreciation and amortization

$

(2,628)

$

(3,104)

$

(2,985)

General and administrative expense

(866)

(700)

(695)

(3,494)

(3,804)

(3,680)

Australia

Depreciation and amortization

$

(2,091)

$

(2,514)

$

(2,683)

General and administrative expense

(58)

(240)

(174)

(2,149)

(2,754)

(2,857)

New Zealand

Depreciation and amortization

(441)

(758)

(827)

General and administrative expense

—

—

—

(441)

(758)

(827)

Total depreciation, amortization, general and administrative expense

$

(6,084)

$

(7,316)

$

(7,364)

OPERATING INCOME (LOSS) - REAL ESTATE

United States

$

(362)

$

(751)

$

(3,640)

Australia

5,973

5,343 

5,158 

New Zealand

(932)

(801)

(1,012)

Total real estate operating income (loss)

$

4,679

$

3,791

$

506