XML 16 R6.htm IDEA: XBRL DOCUMENT v3.23.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Operating Activities    
Net income (loss) $ 14,736 $ (16,201)
Adjustments to reconcile net income (loss) to cash provided by (used in) operating activities:    
Depreciation and amortization 27,198 27,023
Amortization of deferred financing costs 1,250 1,753
Credit loss expense, net 1,066 7,341
Write-downs 474 5,432
Deferred income tax benefit (3,279) (300)
Share-based and other non-cash compensation 12,533 13,966
Unrealized foreign currency exchange loss 175 841
Unrealized investment gains (72) (64)
Changes in assets and liabilities:    
Accounts receivable 9,531 (14,745)
Inventories (6,118) (6,949)
Film assets (9,241) (10,420)
Deferred revenue (3,255) (5,291)
Changes in other operating assets and liabilities (19,143) (7,679)
Net cash provided by (used in) operating activities 25,855 (5,293)
Investing Activities    
Purchase of property, plant and equipment (1,009) (2,934)
Investment in equipment for joint revenue sharing arrangements (4,033) (8,651)
Interest in film classified as a financial instrument   (4,731)
Acquisition of other intangible assets (3,478) (1,680)
Net cash used in investing activities (8,520) (17,996)
Financing Activities    
Revolving credit facility borrowings 30,717  
Repayments of revolving credit facility borrowings (38,886)  
Credit facility amendment fees paid   (2,028)
Other borrowings 315  
Repurchase of common shares (4,011) (49,355)
Taxes withheld and paid on employee stock awards vested (6,458) (3,393)
Principal payment under finance lease obligations   (890)
Dividends paid to non-controlling interests (1,438)  
Net cash used in financing activities (19,761) (57,510)
Effects of exchange rate changes on cash 291 1,200
Decrease in cash and cash equivalents during period (2,135) (79,599)
Cash and cash equivalents, beginning of period 97,401 189,711
Cash and cash equivalents, end of period $ 95,266 110,112
IMAX China    
Financing Activities    
Repurchase of common shares   $ (1,844)