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Current Expected Credit Losses (Tables)

3 Months Ended

Mar. 31, 2021

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 months ended March 31, 2021 and 2020:

	Three Months Ended March 31, 2021
(In thousands of U.S. Dollars)	Theater Operators			Studios			Other			Total
Beginning balance	$	8,368		$	4,481		$	1,446		$	14,295
Current period provision (reversal)		599			(499	)		(249	)		(149	)
Write-offs		(170	)		(149	)		—			(319	)
Foreign exchange		(14	)		(62	)		(9	)		(85	)
Ending balance	$	8,783		$	3,771		$	1,188		$	13,742

	Three Months Ended March 31, 2020
(In thousands of U.S. Dollars)	Theater Operators			Studios			Other			Total
Beginning balance	$	3,302		$	893		$	942		$	5,137
Current period provision		3,202			3,090			99			6,391
Ending balance	$	6,504		$	3,983		$	1,041		$	11,528

Schedule of Financing Receivables

As of March 31, 2021 and December 31, 2020, financing receivables consist of the following:

	March 31,			December 31,
(In thousands of U.S. Dollars)	2021			2020
Net investment in leases
Gross minimum payments due under sales-type leases	$	22,009		$	20,830
Unearned finance income		(805	)		(859	)
Present value of minimum payments due under sales-type leases		21,204			19,971
Allowance for credit losses		(581	)		(557	)
Net investment in leases		20,623			19,414
Financed sales receivables
Gross minimum payments due under financed sales		149,714			150,917
Unearned finance income		(32,010	)		(31,247	)
Present value of minimum payments due under financed sales		117,704			119,670
Allowance for credit losses		(7,491	)		(7,274	)
Net financed sales receivables		110,213			112,396
Total financing receivables	$	130,836		$	131,810

Net financed sales receivables due within one year	$	32,591		$	34,937
Net financed sales receivables due after one year		77,622			77,459
Total financed sales receivables	$	110,213		$	112,396

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

As of March 31, 2021 and December 31, 2020, 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:

	March 31,			December 31,
	2021			2020
Weighted-average remaining lease term (in years)
Sales-type lease arrangements		8.4			8.3
Weighted-average interest rate
Sales-type lease arrangements		6.55	%		6.56	%
Financed sales receivables		8.91	%		8.92	%

Schedule of Net Investment In Leases by Credit Quality Indicator

The following tables provide information on the Company’s net investment in leases by credit quality indicator as of March 31, 2021 and December 31, 2020:

(In thousands of U.S. Dollars)	By Origination Year
As of March 31, 2021	2021		2020		2019		2018		2017		Prior		Total
Net investment in leases:
Credit quality classification:
In good standing	$	1,952	$	1,178	$	1,278	$	—	$	—	$	1,556	$	5,964
Credit Watch		—		2,918		6,979		2,671		920		960		14,448
Pre-approved transactions		—		—		—		—		—		—		—
Transactions suspended		—		—		—		—		—		792		792
Total net investment in leases	$	1,952	$	4,096	$	8,257	$	2,671	$	920	$	3,308	$	21,204

(In thousands of U.S. Dollars)	By Origination Year
As of December 31, 2020	2020		2019		2018		2017		2016		Prior		Total
Net investment in leases:
Credit quality classification:
In good standing	$	2,143	$	1,190	$	2,730	$	—	$	—	$	1,826	$	7,889
Credit Watch		2,005		7,278		—		988		—		1,047		11,318
Pre-approved transactions		—		—		—		—		—		—		—
Transactions suspended		—		—		—		—		—		764		764
Total net investment in leases	$	4,148	$	8,468	$	2,730	$	988	$	—	$	3,637	$	19,971

Schedule of Financed Sale Receivables by Credit Quality Indicator

The following tables provide information on the Company’s financed sale receivables by credit quality indicator as of March 31, 2021 and December 31, 2020:

(In thousands of U.S. Dollars)	By Origination Year
As of March 31, 2021	2021		2020		2019		2018		2017		Prior		Total
Financed sales receivables:
Credit quality classification:
In good standing	$	413	$	5,255	$	4,386	$	2,536	$	3,370	$	15,268	$	31,228
Credit Watch		774		3,442		7,532		11,769		11,233		43,817		78,567
Pre-approved transactions		—		—		—		—		—		709		709
Transactions suspended		—		—		—		—		2,040		5,160		7,200
Total financed sales receivables	$	1,187	$	8,697	$	11,918	$	14,305	$	16,643	$	64,954	$	117,704

(In thousands of U.S. Dollars)	By Origination Year
As of December 31, 2020	2020		2019		2018		2017		2016		Prior		Total
Financed sales receivables:
Credit quality classification:
In good standing	$	6,830	$	5,480	$	3,547	$	3,740	$	5,072	$	12,660	$	37,329
Credit Watch		1,986		6,501		11,356		12,520		11,446		34,351		78,160
Pre-approved transactions		—		—		—		—		613		755		1,368
Transactions suspended		—		—		—		987		728		1,098		2,813
Total financed sales receivables	$	8,816	$	11,981	$	14,903	$	17,247	$	17,859	$	48,864	$	119,670

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 March 31, 2021 and December 31, 2020:

	As of March 31, 2021
(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	$	157	$	122	$	985	$	1,264	$	19,940	$	21,204	$	(581	)	$	20,623
Financed sales receivables		1,495		2,929		11,493		15,917		101,787		117,704		(7,491	)		110,213
Total	$	1,652	$	3,051	$	12,478	$	17,181	$	121,727	$	138,908	$	(8,072	)	$	130,836

	As of December 31, 2020
(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	$	298	$	180	$	689	$	1,167	$	18,804	$	19,971	$	(557	)	$	19,414
Financed sales receivables		3,307		1,943		10,699		15,949		103,721		119,670		(7,274	)		112,396
Total	$	3,605	$	2,123	$	11,388	$	17,116	$	122,525	$	139,641	$	(7,831	)	$	131,810

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

The following table provides 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 March 31, 2021 and December 31, 2020:

	As of March 31, 2021
(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	$	141	$	96	$	623	$	860	$	12,644	$	(90	)	$	13,414
Financed sales receivables		983		2,127		9,393		12,503		55,411		(2,589	)		65,325
Total	$	1,124	$	2,223	$	10,016	$	13,363	$	68,055	$	(2,679	)	$	78,739

	As of December 31, 2020
(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	$	231	$	162	$	359	$	752	$	13,912	$	(310	)	$	14,354
Financed sales receivables		2,026		1,551		10,249		13,826		62,602		(4,434	)		71,994
Total	$	2,257	$	1,713	$	10,608	$	14,578	$	76,514	$	(4,744	)	$	86,348

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 March 31, 2021 and December 31, 2020:

	As of March 31, 2021							As of December 31, 2020
(In thousands of U.S. Dollars)	Recorded Receivable		Allowance for Credit Losses			Net			Recorded Receivable		Allowance for Credit Losses			Net
Net investment in leases	$	792	$	(16	)	$	776		$	764	$	(18	)	$	746
Net financed sales receivables		7,200		(2,495	)		4,705			2,813		(1,482	)		1,331
Total	$	7,992	$	(2,511	)	$	5,481		$	3,577	$	(1,500	)	$	2,077

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

The following table summarizes the activity in the allowance for credit losses related to the Company’s net investment in leases and financed sale receivables for the three months ended March 31, 2021 and 2020:

	Three Months Ended March 31, 2021
	Net Investment			Financed
(In thousands of U.S. Dollars)	in Leases			Sales Receivables
Beginning balance	$	557		$	7,274
Current period provision		27			227
Foreign exchange		(3	)		(10	)
Ending balance	$	581		$	7,491

	Three Months Ended March 31, 2020
	Net Investment			Net Financed
(In thousands of U.S. Dollars)	in Leases			Sales Receivables
Beginning balance	$	155		$	915
Current period provision		309			2,642
Ending balance	$	464		$	3,557

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 months ended March 31, 2021 and 2020:

	Three Months Ended March 31,
	2021		2020
(In thousands of U.S. Dollars)	Theater Operators		Theater Operators
Beginning balance	$	1,887	$	—
Current period provision		200		875
Foreign Exchange		1		—
Ending balance	$	2,088	$	875