XML 20 R4.htm IDEA: XBRL DOCUMENT v3.21.1
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Revenues    
Revenues, total $ 38,754 $ 34,902
Costs and expenses applicable to revenues    
Cost and expenses applicable to revenues, total 21,473 29,816
Gross margin [1] 17,281 5,086
Selling, general and administrative expenses 25,209 28,636
Research and development 1,471 2,200
Amortization of intangibles 1,141 1,321
Credit loss expense 305 10,217
Asset impairments 0 1,151
Loss from operations (10,845) (38,439)
Realized and unrealized investment gains (losses) 5,248 (4,539)
Retirement benefits non-service expense (114) (116)
Interest income 583 365
Interest expense (2,304) (648)
Loss before taxes (7,432) (43,377)
Income tax expense (3,068) (15,505)
Equity in losses of investees, net of tax 0 (529)
Net loss (10,500) (59,411)
Less: Net (income) loss attributable to non-controlling interests 4,340 (10,057)
Net loss attributable to common shareholders $ (14,840) $ (49,354)
Net loss per share attributable to common shareholders - basic and diluted:    
Net loss per share — basic and diluted $ (0.25) $ (0.82)
Technology Sales [Member]    
Revenues    
Revenues, total $ 6,175 $ 5,662
Costs and expenses applicable to revenues    
Cost and expenses applicable to revenues, total 5,053 3,869
Image Enhancement and Maintenance Services [Member]    
Revenues    
Revenues, total 21,615 20,721
Costs and expenses applicable to revenues    
Cost and expenses applicable to revenues, total 9,764 17,816
Technology Rentals [Member]    
Revenues    
Revenues, total 8,359 5,971
Costs and expenses applicable to revenues    
Cost and expenses applicable to revenues, total 6,656 8,131
Finance Income [Member]    
Revenues    
Revenues, total $ 2,605 $ 2,548
[1] IMAX DMR gross margin includes marketing costs of $1.1 million for the three months ended March 31, 2021 (2020 — $2.4 million). JRSA gross margin includes advertising, marketing and commission expense of $0.8 million for the three months ended March 31, 2021 (2020 — $0.5 million). IMAX Systems gross margin includes marketing and commission costs of $0.2 million for the three months ended March 31, 2021 (2020 — $0.2 million). Film Distribution segment gross margin includes a marketing recovery of less than $0.1 million for the three months ended March 31, 2021 (2020 — expense of $0.2 million).