Segment Reporting (Tables)

3 Months Ended

Mar. 31, 2025

Summary Of Results Of Operations For Principal Business Segments

	2025						2024
(Dollars in thousands)	Cinema		Real ‎Estate		Total		Cinema		Real ‎Estate		Total
Revenue - third party	$	36,404	$	3,765	$	40,169	$	41,271	$	3,781	$	45,052
Inter-segment revenue (1)		—		1,080		1,080		—		1,152		1,152
Total segment revenue		36,404		4,845		41,249		41,271		4,933		46,204
Operating expense
Operating Expense - Third Party		(36,577)		(1,955)		(38,532)		(40,720)		(2,235)		(42,955)
Inter-Segment Operating Expenses (1)		(1,080)		—		(1,080)		(1,152)		—		(1,152)
Total of services and products (excluding depreciation and amortization)		(37,657)		(1,955)		(39,612)		(41,872)		(2,235)		(44,107)
Depreciation and amortization		(2,141)		(1,102)		(3,243)		(2,587)		(1,517)		(4,104)
Impairment of long-lived assets		—		—		—		—		—		—
General and administrative expense		(1,081)		(194)		(1,275)		(977)		(291)		(1,268)
Total operating expense		(40,879)		(3,251)		(44,130)		(45,436)		(4,043)		(49,479)
Segment operating income (loss)	$	(4,475)	$	1,594	$	(2,881)	$	(4,165)	$	890	$	(3,275)

(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

	Three Months Ended
(Dollars in thousands)	March 31, 2025		March 31, 2024
Segment operating income (loss)	$	(2,881)	$	(3,275)
Unallocated corporate expense:
Depreciation and amortization expense		(133)		(102)
General and administrative expense		(3,877)		(4,154)
Interest expense, net		(4,742)		(5,286)
Equity earnings (loss) of unconsolidated joint ventures		23		(25)
Gain (loss) on sale of assets		6,526		(1,125)
Other (expense) income		(331)		341
Income (loss) before income taxes	$	(5,415)	$	(13,626)

Summary Of Assets

	March 31,		December 31,
(Dollars in thousands)	2025		2024
By segment:
Cinema	$	180,096	$	191,008
Real estate		191,792		207,044
Corporate (1)		69,081		72,959
Total assets	$	440,969	$	471,011
By country:
United States	$	255,115	$	264,284
Australia		162,323		167,667
New Zealand		23,531		39,060
Total assets	$	440,969	$	471,011

‎(1) Corporate Assets includes cash and cash equivalents of $5.9 million and $12.3 million as of March 31, 2025 and December 31, 2024, respectively.

Schedule Of Operating Property By Country

	March 31,		December 31,
(Dollars in thousands)	2025		2024
United States	$	144,899	$	146,531
Australia		58,428		59,081
New Zealand		9,030		9,082
Total operating property	$	212,357	$	214,694

Summary Of Capital Expenditures

	Three Months Ended
(Dollars in thousands)	March 31, 2025		March 31, 2024
Segment capital expenditures	$	406	$	2,028
Corporate capital expenditures		—		—
Total capital expenditures	$	406	$	2,028

Cinema Exhibition [Member]

Reconciliation To Net Income Attributable To Common Shareholders

			Three Months Ended
(Dollars in thousands)			March 31, 2025		March 31, 2024
REVENUE
	United States	Admissions revenue	$	10,245	$	12,245
		Concessions revenue		6,108		6,960
		Advertising and other revenue		1,942		2,103
			$	18,295	$	21,308
	Australia	Admissions revenue	$	9,630	$	10,261
		Concessions revenue		4,856		5,765
		Advertising and other revenue		1,196		1,296
			$	15,682	$	17,322
	New Zealand	Admissions revenue	$	1,546	$	1,600
		Concessions revenue		766		909
		Advertising and other revenue		115		132
			$	2,427	$	2,641
	Total revenue		$	36,404	$	41,271
OPERATING EXPENSE
	United States	Film rent and advertising cost	$	(5,058)	$	(6,139)
		Food & beverage cost		(1,583)		(1,907)
		Occupancy expense		(3,967)		(5,787)
		Labor cost		(4,082)		(4,148)
		Utilities		(1,218)		(1,308)
		Cleaning and maintenance		(1,541)		(1,427)
		Other operating expenses		(2,146)		(2,124)
			$	(19,595)	$	(22,840)
	Australia	Film rent and advertising cost	$	(3,956)	$	(4,448)
		Food & beverage cost		(1,075)		(1,275)
		Occupancy expense		(4,295)		(4,402)
		Labor cost		(3,307)		(3,273)
		Utilities		(842)		(812)
		Cleaning and maintenance		(1,149)		(1,204)
		Other operating expenses		(775)		(872)
			$	(15,399)	$	(16,286)
	New Zealand	Film rent and advertising cost	$	(649)	$	(682)
		Food & beverage cost		(148)		(204)
		Occupancy expense		(733)		(759)
		Labor cost		(534)		(562)
		Utilities		(98)		(100)
		Cleaning and maintenance		(194)		(204)
		Other operating expenses		(307)		(235)
			$	(2,663)	$	(2,746)
	Total operating expense		$	(37,657)	$	(41,872)
DEPRECIATION, AMORTIZATION, GENERAL AND ADMINISTRATIVE EXPENSE
	United States	Depreciation and amortization	$	(1,121)	$	(1,271)
		General and administrative expense		(725)		(633)
			$	(1,846)	$	(1,904)
	Australia	Depreciation and amortization	$	(913)	$	(1,190)
		General and administrative expense		(344)		(344)
			$	(1,257)	$	(1,534)
	New Zealand	Depreciation and amortization	$	(107)	$	(126)
		General and administrative expense		(12)		—
			$	(119)	$	(126)
	Total depreciation, amortization, general and administrative expense		$	(3,222)	$	(3,564)
OPERATING INCOME (LOSS) - CINEMA
	United States		$	(3,146)	$	(3,436)
	Australia			(974)		(498)
	New Zealand			(355)		(231)
	Total Cinema operating income (loss)		$	(4,475)	$	(4,165)

Real Estate [Member]

Reconciliation To Net Income Attributable To Common Shareholders

			Three Months Ended
(Dollars in thousands)			March 31, 2025		March 31, 2024
REVENUE
	United States	Live theater rental and ancillary income	$	543	$	413
		Property rental income		1,044		1,072
				1,587		1,485
	Australia	Property rental income		3,015		3,083
	New Zealand	Property rental income		243		365
	Total revenue		$	4,845	$	4,933
OPERATING EXPENSE
	United States	Live theater cost	$	(237)	$	(234)
		Occupancy expense		(177)		(192)
		Utilities		(44)		(30)
		Cleaning and maintenance		(31)		(47)
		Other operating expenses		(165)		(342)
			$	(654)	$	(845)
	Australia	Occupancy expense	$	(487)	$	(489)
		Labor cost		(44)		(58)
		Utilities		(13)		(14)
		Cleaning and maintenance		(220)		(215)
		Other operating expenses		(258)		(234)
			$	(1,022)	$	(1,010)
	New Zealand	Occupancy expense	$	(58)	$	(111)
		Labor cost		(2)		(6)
		Utilities		(5)		(19)
		Cleaning and maintenance		(4)		(11)
		Other operating expenses		(210)		(233)
			$	(279)	$	(380)
	Total operating expense		$	(1,955)	$	(2,235)
DEPRECIATION, AMORTIZATION, GENERAL AND ADMINISTRATIVE EXPENSE
	United States	Depreciation and amortization	$	(660)	$	(739)
		General and administrative expense		(130)		(268)
				(790)		(1,007)
	Australia	Depreciation and amortization	$	(385)	$	(591)
		General and administrative expense		(63)		(24)
				(448)		(615)
	New Zealand	Depreciation and amortization		(57)		(186)
		General and administrative expense		(1)		—
				(58)		(186)
	Total depreciation, amortization, general and administrative expense		$	(1,296)	$	(1,808)
OPERATING INCOME (LOSS) - REAL ESTATE
	United States		$	143	$	(367)
	Australia			1,545		1,458
	New Zealand			(94)		(201)
	Total real estate operating income (loss)		$	1,594	$	890