Receivables (Tables)

6 Months Ended

Jun. 30, 2023

Receivables [Abstract]

Summary of Allowance For Credit Losses Related to Accounts Receivable

The following tables summarize the activity in the allowance for credit losses related to Accounts Receivable for the three and six months ended June 30, 2023 and 2022:

	Three Months Ended June 30, 2023												Six Months Ended June 30, 2023
(In thousands of U.S. Dollars)	Theater Operators			Studios			Other			Total			Theater Operators			Studios			Other			Total
Beginning balance	$	10,824		$	1,707		$	1,297		$	13,828		$	11,144		$	1,699		$	1,276		$	14,119
Current period provision (reversal), net		1,704			(802	)		189		$	1,091			1,439			(799	)		210			850
Write-offs		(682	)		—			—		$	(682	)		(797	)		—			—			(797	)
Foreign exchange		(206	)		(11	)		—		$	(217	)		(146	)		(6	)		—			(152	)
Ending balance	$	11,640		$	894		$	1,486		$	14,020		$	11,640		$	894		$	1,486		$	14,020
	Three Months Ended June 30, 2022												Six Months Ended June 30, 2022
(In thousands of U.S. Dollars)	Theater Operators			Studios			Other			Total			Theater Operators			Studios			Other			Total
Beginning balance	$	10,831		$	1,995		$	1,358		$	14,184		$	8,867		$	1,994		$	1,085		$	11,946
Current period provision (reversal), net		134			(104	)		(57	)		(27	)		2,115			(101	)		216			2,230
Write-offs		(43	)		(124	)		(394	)		(561	)		(43	)		(124	)		(394	)		(561	)
Foreign exchange		(218	)		(23	)		—			(241	)		(235	)		(25	)		—			(260	)
Ending balance	$	10,704		$	1,744		$	907		$	13,355		$	10,704		$	1,744		$	907		$	13,355

Schedule of Financing Receivables

As of June 30, 2023 and December 31, 2022, financing receivables consist of the following:

	June 30,			December 31,
(In thousands of U.S. Dollars)	2023			2022
Net investment in leases
Gross minimum payments due under sales-type leases	$	30,480		$	29,727
Unearned finance income		(511	)		(619	)
Present value of minimum payments due under sales-type leases		29,969			29,108
Allowance for credit losses		(689	)		(776	)
Net investment in leases		29,280			28,332
Financed sales receivables
Gross minimum payments due under financed sales		135,628			141,337
Unearned finance income		(28,431	)		(29,340	)
Present value of minimum payments due under financed sales		107,197			111,997
Allowance for credit losses		(11,027	)		(10,945	)
Net financed sales receivables		96,170			101,052
Total financing receivables	$	125,450		$	129,384
Net financed sales receivables due within one year	$	31,445		$	32,366
Net financed sales receivables due after one year		64,725			68,686
Total financed sales receivables	$	96,170		$	101,052

Schedule of Weighted-average Remaining Lease Term and Weighted-average Interest Rate

As of June 30, 2023 and December 31, 2022, the weighted-average remaining lease term and weighted-average interest rate associated with the Company’s sales-type lease arrangements and financed sale receivables, as applicable, are as follows:

	June 30,		December 31,
	2023		2022
Weighted-average remaining lease term (in years)
Sales-type lease arrangements		8.7		9.0
Weighted-average interest rate
Sales-type lease arrangements	8.10%		8.23%
Financed sales receivables	8.94%		8.79%

Schedule of Net Investment In Leases by Credit Quality Indicator

The tables below provide information on the Company’s net investment in leases by credit quality indicator as of June 30, 2023 and December 31, 2022. The amounts disclosed for each credit quality classification are determined on a customer-by-customer basis and include both billed and unbilled amounts.

(In thousands of U.S. Dollars)	By Origination Year
As of June 30, 2023	2023		2022		2021		2020		2019		Prior		Total
Net investment in leases:
Credit quality classification:
In good standing	$	2,075	$	3,576	$	6,506	$	2,424	$	2,059	$	1,509	$	18,149
Credit Watch		—		—		—		—		—		—		—
Pre-approved transactions		—		25		2,949		1,511		5,092		1,842		11,419
Transactions suspended		—		—		—		—		—		401		401
Total net investment in leases	$	2,075	$	3,601	$	9,455	$	3,935	$	7,151	$	3,752	$	29,969
(In thousands of U.S. Dollars)	By Origination Year
As of December 31, 2022	2022		2021		2020		2019		2018		Prior		Total
Net investment in leases:
Credit quality classification:
In good standing	$	4,148	$	6,969	$	2,494	$	1,977	$	—	$	1,016	$	16,604
Credit Watch		—		—		—		—		—		—		—
Pre-approved transactions		—		3,089		1,162		5,401		2,451		—		12,103
Transactions suspended		—		—		—		—		—		401		401
Total net investment in leases	$	4,148	$	10,058	$	3,656	$	7,378	$	2,451	$	1,417	$	29,108

Schedule of Financed Sale Receivables by Credit Quality Indicator

The tables below provide information on the Company’s financed sale receivables by credit quality indicator as of June 30, 2023 and December 31, 2022. The amounts disclosed for each credit quality classification are determined on a customer-by-customer basis and include both billed and unbilled amounts.

(In thousands of U.S. Dollars)	By Origination Year
As of June 30, 2023	2023		2022		2021		2020		2019		Prior		Total
Financed sales receivables:
Credit quality classification:
In good standing	$	4,012	$	6,198	$	5,895	$	5,693	$	8,940	$	45,363	$	76,101
Credit Watch		—		—		—		—		558		773		1,331
Pre-approved transactions		97		313		3,016		1,558		1,774		10,206		16,964
Transactions suspended		—		—		1,220		143		1,252		10,186		12,801
Total financed sales receivables	$	4,109	$	6,511	$	10,131	$	7,394	$	12,524	$	66,528	$	107,197
(In thousands of U.S. Dollars)	By Origination Year
As of December 31, 2022	2022		2021		2020		2019		2018		Prior		Total
Financed sales receivables:
Credit quality classification:
In good standing	$	10,252	$	8,643	$	6,280	$	8,541	$	9,854	$	39,912	$	83,482
Credit Watch		—		—		—		—		—		1,152		1,152
Pre-approved transactions		—		2,318		1,399		1,134		1,449		9,243		15,543
Transactions suspended		272		664		142		1,269		1,197		8,276		11,820
Total financed sales receivables	$	10,524	$	11,625	$	7,821	$	10,944	$	12,500	$	58,583	$	111,997

Schedule of Aging Analysis for Net Investment in Leases and Financed Sale Receivables

The following tables provide an aging analysis for the Company’s net investment in leases and financed sale receivables as of June 30, 2023 and December 31, 2022:

	As of June 30, 2023
(In thousands of U.S. Dollars)	Accrued and Current		30-89 Days		90+ Days		Billed		Unbilled		Recorded Receivable		Allowance for Credit Losses			Net
Net investment in leases	$	264	$	336	$	3,324	$	3,924	$	26,045	$	29,969	$	(689	)	$	29,280
Financed sales receivables		1,313		1,616		10,288		13,217		93,980	$	107,197		(11,027	)		96,170
Total	$	1,577	$	1,952	$	13,612	$	17,141	$	120,025	$	137,166	$	(11,716	)	$	125,450
	As of December 31, 2022
(In thousands of U.S. Dollars)	Accrued and Current		30-89 Days		90+ Days		Billed		Unbilled		Recorded Receivable		Allowance for Credit Losses			Net
Net investment in leases	$	237	$	216	$	2,593	$	3,046	$	26,062	$	29,108	$	(776	)	$	28,332
Financed sales receivables		2,269		1,307		12,793		16,369		95,628		111,997		(10,945	)		101,052
Total	$	2,506	$	1,523	$	15,386	$	19,415	$	121,690	$	141,105	$	(11,721	)	$	129,384

Schedule of Net Investment in Leases and Financed Sale Receivables with Billed Amounts Past Due Continues to Accrue Finance Income

The following tables provide information about the Company’s net investment in leases and financed sale receivables with billed amounts past due for which it continues to accrue finance income as of June 30, 2023 and December 31, 2022. The amounts disclosed for each credit quality classification are determined on a customer-by-customer basis and include both billed and unbilled amounts.

	As of June 30, 2023
(In thousands of U.S. Dollars)	Accrued and Current		30-89 Days		90+ Days		Billed		Unbilled		Allowance for Credit Losses			Net
Net investment in leases	$	205	$	318	$	3,324	$	3,847	$	19,729	$	(294	)	$	23,282
Financed sales receivables		779		1,292		9,774		11,845		39,772		(1,676	)		49,941
Total	$	984	$	1,610	$	13,098	$	15,692	$	59,501	$	(1,970	)	$	73,223
	As of December 31, 2022
(In thousands of U.S. Dollars)	Accrued and Current		30-89 Days		90+ Days		Billed		Unbilled		Allowance for Credit Losses			Net
Net investment in leases	$	190	$	181	$	2,593	$	2,964	$	17,070	$	(230	)	$	19,804
Financed sales receivables		1,550		1,115		10,814		13,479		43,172		(1,587	)		55,064
Total	$	1,740	$	1,296	$	13,407	$	16,443	$	60,242	$	(1,817	)	$	74,868

Schedule of Net Investment in Leases and Financed Sale Receivables on Nonaccrual Status

The following table provides information about the Company’s net investment in leases and financed sale receivables that are on nonaccrual status as of June 30, 2023 and December 31, 2022:

	As of June 30, 2023							As of December 31, 2022
(In thousands of U.S. Dollars)	Recorded Receivable		Allowance for Credit Losses			Net		Recorded Receivable		Allowance for Credit Losses			Net
Net investment in leases	$	401	$	(401	)	$	—	$	401	$	(401	)	$	—
Net financed sales receivables		29,765		(7,530	)		22,235		27,364		(9,589	)		17,775
Total	$	30,166	$	(7,931	)	$	22,235	$	27,765	$	(9,990	)	$	17,775

Summary of Allowance for Credit Losses Related to Net Investment in Leases and Financed Sale Receivables

The following tables summarize the activity in the allowance for credit losses related to the Company’s net investment in leases and financed sale receivables for the three and six months ended June 30, 2023 and 2022:

	Three Months Ended June 30, 2023						Six Months Ended June 30, 2023
	Net Investment			Financed			Net Investment			Financed
(In thousands of U.S. Dollars)	in Leases			Sales Receivables			in Leases			Sales Receivables
Beginning balance	$	778		$	11,533		$	776		$	10,945
Current period reversal, net		(79	)		(336	)		(81	)		213
Write-offs		—			—			—			—
Foreign exchange		(10	)		(170	)		(6	)		(131	)
Ending balance	$	689		$	11,027		$	689		$	11,027
	Three Months Ended June 30, 2022						Six Months Ended June 30, 2022
	Net Investment			Net Financed			Net Investment			Net Financed
(In thousands of U.S. Dollars)	in Leases			Sales Receivables			in Leases			Sales Receivables
Beginning balance	$	706		$	11,135		$	798		$	5,414
Current period (reversal) provision, net		(1	)		67			(94	)		5,775
Write-offs		—			—			—			—
Foreign exchange		(17	)		(164	)		(16	)		(151	)
Ending balance	$	688		$	11,038		$	688		$	11,038

Summary of Allowance For Credit Losses Related to Variable Consideration Receivables

The following table summarizes the activity in the Allowance for Credit Losses related to Variable Consideration Receivables for the three and six months ended June 30, 2023 and 2022:

	Three Months Ended June 30,						Six Months Ended June 30,
	2023			2022			2023			2022
(In thousands of U.S. Dollars)	Theater Operators			Theater Operators			Theater Operators			Theater Operators
Beginning balance	$	526		$	439		$	610		$	1,082
Current period provision (reversal), net		183			73			97			(570	)
Write-offs		—			—			—			—
Foreign exchange		(4	)		(9	)		(2	)		(9	)
Ending balance	$	705		$	503		$	705		$	503