Segment Reporting (Tables)

3 Months Ended

Mar. 31, 2022

Segment Reporting [Abstract]

Segment Reporting Information by Category and Reportable Segment

The following table presents the Company’s revenue and gross margin (margin loss) by category and reportable segment for the three months ended March 31, 2022 and 2021:

	Revenue(1)				Gross Margin (Margin Loss)
(In thousands of U.S. Dollars)	2022		2021		2022			2021
IMAX Technology Network
IMAX DMR	$	19,564	$	11,944	$	13,557		$	8,251
JRSA, contingent rent		12,643		8,359		6,198			1,883
		32,207		20,303		19,755			10,134
IMAX Technology Sales and Maintenance
IMAX Systems(2)		8,618		5,899		3,976			3,012
JRSA, fixed fees		990		1,738		252			156
IMAX Maintenance		14,942		8,906		7,870			3,823
Other Theater Business(3)		670		437		100			63
		25,220		16,980		12,198			7,054
Film Distribution and Post-Production
Film Distribution		581		222		(1,247	)		(261	)
Post-Production		825		591		386			236
		1,406		813		(861	)		(25	)
Sub-total for reportable segments		58,833		38,096		31,092			17,163
All Other(4)		1,203		658		679			118
Total	$	60,036	$	38,754	$	31,771		$	17,281

(1)The Company’s largest customer represents 28% of total Revenues for the three months ended March 31, 2022 (2021 — 31%). No single customer comprises more than 10% of the Company’s total Accounts Receivable as of March 31, 2022 and December 31, 2021.

(2)The revenue from this segment includes the initial upfront payments and the present value of fixed minimum payments from sale and sales-type lease arrangements of IMAX Theater Systems, as well as the present value of estimated variable consideration from sales of IMAX Theater Systems. To a lesser extent, the revenue from this segment also includes finance income associated with these revenue streams.

(3)The revenue from this segment principally includes after-market sales of IMAX Theater System parts and 3D glasses.

(4)All Other includes the results from IMAX Enhanced and other ancillary activities. In the first quarter of 2022, the Company's internal reporting was updated to reclassify the results of IMAX Enhanced out of the New Business Initiatives segment into All Other for segment reporting purposes. Prior period comparatives have been revised to conform with the current period presentation.

Summary of Revenues By Geographic Area

The following table summarizes the Company's revenues by geographic area for the three months ended March 31, 2022 and 2021:

	Three Months Ended
	March 31,
(In thousands of U.S. Dollars)	2022		2021
Revenue
Greater China	$	21,476	$	25,518
United States		19,067		3,699
Western Europe		7,061		1,369
Asia (excluding China)		5,767		4,302
Latin America		1,886		53
Canada(2)		1,772		(553	)
Russia/the CIS & Ukraine(1)		1,010		1,886
Rest of the World		1,997		2,480
Total	$	60,036	$	38,754

(1)In addition to Russia, the CIS includes Azerbaijan, Belarus, Kazakhstan, and Kyrgyzstan. As of March 31, 2022, the IMAX network includes 54 theaters in Russia, 9 theaters in Ukraine, and 1 theater in Belarus.

(2)For the three months ended March 31, 2021, the amount attributable to Canada includes a $0.5 million reversal of previously recorded revenue and a corresponding reduction in the net investment in lease as a result of a lease modification entered into during the period.