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Non-Controlling Interests
9 Months Ended
Sep. 30, 2020
Temporary Equity Disclosure [Abstract]  
Non-Controlling Interests

17.  Non-Controlling Interests

 

(a)

IMAX China Non-Controlling Interest

The Company indirectly owns approximately 69.89% of IMAX China Holding, Inc. (“IMAX China”), whose shares trade on the Hong Kong Stock Exchange. IMAX China is a consolidated subsidiary of the Company. The balance of the non-controlling interest in IMAX China as at September 30, 2020 is $75.5 million. For the three months ended September 30, 2020, the net income attributable to the non-controlling interest in IMAX China is $2.2 million (2019 — $2.3 million). For the nine months ended September 30, 2020, the net loss attributable to the non-controlling interest in IMAX China is $10.3 million (2019 — net income of $9.3 million).

 

(b)

Other Non-Controlling Interest

The Company’s Original Film Fund was established in 2014 to co-finance a portfolio of 10 original large-format films. The initial investment in the Original Film Fund was committed by a third party in the amount of $25.0 million, with the possibility of contributing additional funds. The Company has contributed $9.0 million to the Original Film Fund since 2014 and has reached its maximum contribution. As at September 30, 2020, the Original Film Fund has invested $22.3 million toward the development of original films. The related production, financing and distribution agreement includes put and call rights relating to change of control of the rights, title and interest in the co-financed pictures.

The following table summarizes the movement of the non-controlling interest in temporary equity, in the Company’s subsidiary for the nine months ended September 30, 2020:

 

Balance as at December 31, 2019

 

$

5,908

 

Net loss

 

 

(5,132

)

Balance as at September 30, 2020

 

$

776