$MCS
MARCUS CORP

2021 Q3 Form 10-Q Financial Statement

#000110465921135778 Filed on November 08, 2021

View on sec.gov

Income Statement

Concept 2021 Q3 2020 Q3
Revenue $92.55M $33.59M
YoY Change 175.51% -84.11%
Cost Of Revenue $57.21M $29.70M
YoY Change 92.62% -75.76%
Gross Profit $35.34M $3.900M
YoY Change 806.1% -95.61%
Gross Profit Margin 38.18% 11.61%
Selling, General & Admin $30.59M $26.20M
YoY Change 16.77% -29.57%
% of Gross Profit 86.58% 671.79%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $18.48M $18.70M
YoY Change -1.19% -2.58%
% of Gross Profit 52.28% 479.44%
Operating Expenses $57.72M $51.10M
YoY Change 12.95% -23.27%
Operating Profit -$26.11M -$47.99M
YoY Change -45.59% -314.35%
Interest Expense $4.907M $4.132M
YoY Change 18.76% 47.2%
% of Operating Profit
Other Income/Expense, Net -$5.579M -$5.961M
YoY Change -6.41% 79.87%
Pretax Income -$31.69M -$53.95M
YoY Change -41.26% -382.85%
Income Tax -$8.323M -$14.51M
% Of Pretax Income
Net Earnings -$23.37M -$39.44M
YoY Change -40.76% -376.02%
Net Earnings / Revenue -25.25% -117.41%
Basic Earnings Per Share
Diluted Earnings Per Share -$744.0K -$1.267M
COMMON SHARES
Basic Shares Outstanding 31.40M shares 31.06M
Diluted Shares Outstanding 31.40M shares 31.06M

Balance Sheet

Concept 2021 Q3 2020 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $8.667M $8.200M
YoY Change 5.7% 9.33%
Cash & Equivalents $8.629M $8.244M
Short-Term Investments
Other Short-Term Assets $14.36M $11.48M
YoY Change 25.12% -51.98%
Inventory
Prepaid Expenses
Receivables $11.30M $6.900M
Other Receivables $24.87M $54.40M
Total Short-Term Assets $83.97M $91.69M
YoY Change -8.42% 67.01%
LONG-TERM ASSETS
Property, Plant & Equipment $1.032B $1.114B
YoY Change -7.35% -4.1%
Goodwill $75.12M $75.21M
YoY Change -0.12%
Intangibles
YoY Change
Long-Term Investments $0.00 $2.100M
YoY Change -100.0% -41.67%
Other Assets $12.17M $33.10M
YoY Change -63.22% -24.59%
Total Long-Term Assets $1.105B $1.225B
YoY Change -9.77% -4.7%
TOTAL ASSETS
Total Short-Term Assets $83.97M $91.69M
Total Long-Term Assets $1.105B $1.225B
Total Assets $1.189B $1.316B
YoY Change -9.68% -1.77%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $21.14M $15.82M
YoY Change 33.6% -57.58%
Accrued Expenses $109.2M $98.90M
YoY Change 10.45% 0.82%
Deferred Revenue
YoY Change
Short-Term Debt $83.50M $89.93M
YoY Change -7.15%
Long-Term Debt Due $11.71M $12.93M
YoY Change -9.4% 1.79%
Total Short-Term Liabilities $188.3M $220.5M
YoY Change -14.63% 46.42%
LONG-TERM LIABILITIES
Long-Term Debt $236.6M $199.4M
YoY Change 18.69% -22.49%
Other Long-Term Liabilities $285.4M $290.5M
YoY Change -1.74% 8.07%
Total Long-Term Liabilities $236.6M $199.4M
YoY Change 18.69% -62.1%
TOTAL LIABILITIES
Total Short-Term Liabilities $188.3M $220.5M
Total Long-Term Liabilities $236.6M $199.4M
Total Liabilities $424.9M $419.9M
YoY Change 1.19% -41.49%
SHAREHOLDERS EQUITY
Retained Earnings $282.9M $370.9M
YoY Change -23.74%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.528M $3.125M
YoY Change -51.1%
Treasury Stock Shares $48.79K $125.7K
Shareholders Equity $442.3M $539.0M
YoY Change
Total Liabilities & Shareholders Equity $1.189B $1.316B
YoY Change -9.68% -1.77%

Cashflow Statement

Concept 2021 Q3 2020 Q3
OPERATING ACTIVITIES
Net Income -$23.37M -$39.44M
YoY Change -40.76% -376.02%
Depreciation, Depletion And Amortization $18.48M $18.70M
YoY Change -1.19% -2.58%
Cash From Operating Activities $3.319M -$25.60M
YoY Change -112.96% -197.34%
INVESTING ACTIVITIES
Capital Expenditures -$4.695M -$2.800M
YoY Change 67.68% -85.71%
Acquisitions
YoY Change
Other Investing Activities -$1.650M $300.0K
YoY Change -650.0% -137.5%
Cash From Investing Activities -$6.345M -$2.600M
YoY Change 144.04% -87.25%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 5.268M -43.00M
YoY Change -112.25% 338.78%
NET CHANGE
Cash From Operating Activities 3.319M -25.60M
Cash From Investing Activities -6.345M -2.600M
Cash From Financing Activities 5.268M -43.00M
Net Change In Cash 2.242M -71.20M
YoY Change -103.15% 1725.64%
FREE CASH FLOW
Cash From Operating Activities $3.319M -$25.60M
Capital Expenditures -$4.695M -$2.800M
Free Cash Flow $8.014M -$22.80M
YoY Change -135.15% -149.67%

Facts In Submission

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CY2021Q3 us-gaap Income Tax Expense Benefit
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CY2020Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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ProfitLoss
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ProfitLoss
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us-gaap Profit Loss
ProfitLoss
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us-gaap Profit Loss
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CY2021Q3 us-gaap Net Income Loss
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CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
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us-gaap Net Income Loss
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ProfitLoss
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CY2020Q3 us-gaap Profit Loss
ProfitLoss
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us-gaap Profit Loss
ProfitLoss
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us-gaap Profit Loss
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84000
CY2020Q3 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditTax
64000
us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditTax
256000
us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Tax
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194000
CY2021Q3 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Net Of Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditNetOfTax
243000
CY2020Q3 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Net Of Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditNetOfTax
184000
us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Net Of Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditNetOfTax
727000
us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Net Of Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditNetOfTax
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CY2021Q3 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationTax
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CY2020Q3 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationTax
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us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationTax
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us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationTax
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CY2021Q3 mcs Other Comprehensive Income Loss Derivatives Adjustment Before Reclassification Adjustments Net Of Tax
OtherComprehensiveIncomeLossDerivativesAdjustmentBeforeReclassificationAdjustmentsNetOfTax
10000
CY2020Q3 mcs Other Comprehensive Income Loss Derivatives Adjustment Before Reclassification Adjustments Net Of Tax
OtherComprehensiveIncomeLossDerivativesAdjustmentBeforeReclassificationAdjustmentsNetOfTax
30000
mcs Other Comprehensive Income Loss Derivatives Adjustment Before Reclassification Adjustments Net Of Tax
OtherComprehensiveIncomeLossDerivativesAdjustmentBeforeReclassificationAdjustmentsNetOfTax
1015000
CY2021Q3 mcs Other Comprehensive Income Loss Reclassification Adjustment In Derivative On Interest Rate Swap Included In Interest Expense Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentInDerivativeOnInterestRateSwapIncludedInInterestExpenseNetOfTax
42000
CY2020Q3 mcs Other Comprehensive Income Loss Reclassification Adjustment In Derivative On Interest Rate Swap Included In Interest Expense Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentInDerivativeOnInterestRateSwapIncludedInInterestExpenseNetOfTax
81000
mcs Other Comprehensive Income Loss Reclassification Adjustment In Derivative On Interest Rate Swap Included In Interest Expense Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentInDerivativeOnInterestRateSwapIncludedInInterestExpenseNetOfTax
153000
mcs Other Comprehensive Income Loss Reclassification Adjustment In Derivative On Interest Rate Swap Included In Interest Expense Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentInDerivativeOnInterestRateSwapIncludedInInterestExpenseNetOfTax
177000
CY2021Q3 mcs Other Comprehensive Income Loss Reclassification Adjustment On Interest Rate Swap Included In Interest Expense Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentOnInterestRateSwapIncludedInInterestExpenseNetOfTax
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CY2020Q3 mcs Other Comprehensive Income Loss Reclassification Adjustment On Interest Rate Swap Included In Interest Expense Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentOnInterestRateSwapIncludedInInterestExpenseNetOfTax
-227000
mcs Other Comprehensive Income Loss Reclassification Adjustment On Interest Rate Swap Included In Interest Expense Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentOnInterestRateSwapIncludedInInterestExpenseNetOfTax
-432000
mcs Other Comprehensive Income Loss Reclassification Adjustment On Interest Rate Swap Included In Interest Expense Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentOnInterestRateSwapIncludedInInterestExpenseNetOfTax
-500000
CY2021Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
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CY2020Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
381000
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
1159000
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
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CY2021Q3 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
2110000
CY2020Q3 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
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us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
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us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
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us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
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CY2021Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
2110000
CY2020Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
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us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-48578000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
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us-gaap Profit Loss
ProfitLoss
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us-gaap Profit Loss
ProfitLoss
-85844000
mcs Adjustment Income Loss From Equity Method Investments
AdjustmentIncomeLossFromEquityMethodInvestments
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us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
2908000
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
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us-gaap Asset Impairment Charges
AssetImpairmentCharges
3732000
us-gaap Asset Impairment Charges
AssetImpairmentCharges
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us-gaap Depreciation And Amortization
DepreciationAndAmortization
54203000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
56568000
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
1784000
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
697000
us-gaap Share Based Compensation
ShareBasedCompensation
6673000
us-gaap Share Based Compensation
ShareBasedCompensation
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us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
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us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
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us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
2236000
us-gaap Increase Decrease In Other Noncurrent Liabilities
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3938000
us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
1012000
us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
1315000
us-gaap Increase Decrease In Accounts And Notes Receivable
IncreaseDecreaseInAccountsAndNotesReceivable
12052000
us-gaap Increase Decrease In Accounts And Notes Receivable
IncreaseDecreaseInAccountsAndNotesReceivable
-22558000
mcs Increase Decrease In Government Grant Receivable
IncreaseDecreaseInGovernmentGrantReceivable
4913000
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
1552000
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-1604000
mcs Increase Decrease In Operating Leases
IncreaseDecreaseInOperatingLeases
4078000
mcs Increase Decrease In Operating Leases
IncreaseDecreaseInOperatingLeases
-8519000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
7155000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-31852000
us-gaap Increase Decrease In Income Taxes Payable Net Of Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable
7613000
us-gaap Increase Decrease In Income Taxes Payable Net Of Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable
-48518000
us-gaap Increase Decrease In Property And Other Taxes Payable
IncreaseDecreaseInPropertyAndOtherTaxesPayable
-1031000
us-gaap Increase Decrease In Property And Other Taxes Payable
IncreaseDecreaseInPropertyAndOtherTaxesPayable
-3975000
us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
5703000
us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
-7259000
us-gaap Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
-2792000
us-gaap Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
-10214000
us-gaap Adjustments To Reconcile Net Income Loss To Cash Provided By Used In Operating Activities
AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities
51794000
us-gaap Adjustments To Reconcile Net Income Loss To Cash Provided By Used In Operating Activities
AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities
5195000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
2057000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
9121000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
18687000
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
9160000
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
1602000
mcs Payments To Acquire Capital In Joint Venture
PaymentsToAcquireCapitalInJointVenture
28000
us-gaap Proceeds From Payments For Trading Securities
ProceedsFromPaymentsForTradingSecurities
5184000
mcs Purchase Of Trading Securities
PurchaseOfTradingSecurities
2402000
mcs Life Insurance Premium Reimbursement
LifeInsurancePremiumReimbursement
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us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-200000
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-220000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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mcs Proceeds From Long Term Borrowing Lines Of Credit
ProceedsFromLongTermBorrowingLinesOfCredit
128500000
mcs Proceeds From Long Term Borrowing Lines Of Credit
ProceedsFromLongTermBorrowingLinesOfCredit
209000000
mcs Repayment Of Borrowings On Revolving Credit Facility
RepaymentOfBorrowingsOnRevolvingCreditFacility
95500000
mcs Repayment Of Borrowings On Revolving Credit Facility
RepaymentOfBorrowingsOnRevolvingCreditFacility
280000000
us-gaap Proceeds From Short Term Debt
ProceedsFromShortTermDebt
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us-gaap Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
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mcs Proceeds From Convertible Debt On Senior Notes
ProceedsFromConvertibleDebtOnSeniorNotes
100050000
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
10285000
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
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mcs Proceeds From Long Term Lines Of Credit On Ppp Loans
ProceedsFromLongTermLinesOfCreditOnPppLoans
3147000
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
208000
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
6543000
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
2065000
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
1389000
us-gaap Proceeds From Repurchase Of Equity
ProceedsFromRepurchaseOfEquity
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us-gaap Proceeds From Repurchase Of Equity
ProceedsFromRepurchaseOfEquity
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mcs Exercise Of Stock Options
ExerciseOfStockOptions
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mcs Exercise Of Stock Options
ExerciseOfStockOptions
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mcs Payments For Capped Call Transactions
PaymentsForCappedCallTransactions
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us-gaap Payments Of Dividends
PaymentsOfDividends
5145000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
887000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
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CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
14975000
CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
16753000
us-gaap Interest Paid Net
InterestPaidNet
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us-gaap Interest Paid Net
InterestPaidNet
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mcs Income Taxes Paid Refunded
IncomeTaxesPaidRefunded
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mcs Income Taxes Paid Refunded
IncomeTaxesPaidRefunded
322000
mcs Change In Accounts Payable For Additions To Property And Equipment
ChangeInAccountsPayableForAdditionsToPropertyAndEquipment
828000
mcs Change In Accounts Payable For Additions To Property And Equipment
ChangeInAccountsPayableForAdditionsToPropertyAndEquipment
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CY2021Q3 us-gaap Depreciation
Depreciation
17714000
us-gaap Depreciation
Depreciation
54147000
CY2020Q3 us-gaap Depreciation
Depreciation
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us-gaap Depreciation
Depreciation
56584000
us-gaap Debt Instrument Interest Rate During Period
DebtInstrumentInterestRateDuringPeriod
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mcs Percentage Of Cash Dividends
PercentageOfCashDividends
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CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
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CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
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us-gaap Net Income Loss
NetIncomeLoss
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us-gaap Net Income Loss
NetIncomeLoss
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CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
31421000
CY2020Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
31064000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
31340000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
31033000
CY2021Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
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CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
31469000
CY2020Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
31064000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
31340000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
31033000
CY2021Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2020Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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CY2021Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
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CY2021Q1 us-gaap Treasury Stock Value Acquired Cost Method
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CY2021Q1 us-gaap Stock Issued During Period Value Share Based Compensation Gross
StockIssuedDuringPeriodValueShareBasedCompensationGross
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CY2021Q1 us-gaap Stock Issued During Period Value Treasury Stock Reissued
StockIssuedDuringPeriodValueTreasuryStockReissued
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CY2021Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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1484000
CY2021Q1 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
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CY2021Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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CY2021Q2 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
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CY2021Q2 us-gaap Treasury Stock Value Acquired Cost Method
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CY2021Q2 us-gaap Stock Issued During Period Value Treasury Stock Reissued
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CY2021Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
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CY2021Q2 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
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CY2021Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2021Q3 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
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CY2021Q3 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
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CY2021Q3 us-gaap Stock Issued During Period Value Treasury Stock Reissued
StockIssuedDuringPeriodValueTreasuryStockReissued
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CY2021Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
2521000
CY2021Q3 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
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CY2021Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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CY2019Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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CY2020Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
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CY2020Q1 us-gaap Treasury Stock Value Acquired Cost Method
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CY2020Q1 us-gaap Stock Issued During Period Value Share Based Compensation Gross
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CY2020Q1 us-gaap Stock Issued During Period Value Treasury Stock Reissued
StockIssuedDuringPeriodValueTreasuryStockReissued
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CY2020Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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CY2020Q1 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
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CY2020Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2020Q2 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
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CY2020Q2 us-gaap Stock Issued During Period Value Treasury Stock Reissued
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CY2020Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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CY2020Q2 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
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CY2020Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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CY2020Q3 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
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CY2020Q3 us-gaap Treasury Stock Value Acquired Cost Method
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CY2020Q3 us-gaap Stock Issued During Period Value Treasury Stock Reissued
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CY2020Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
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CY2020Q3 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities Net Of Adjustments
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CY2020Q3 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
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CY2020Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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CY2020Q3 mcs Capped Call Transactions Net Tax
CappedCallTransactionsNetTax
12495000
CY2021Q3 mcs Accumulated Other Comprehensive Income Loss On Interest Rate Swap Agreements Adjustment Net Of Tax
AccumulatedOtherComprehensiveIncomeLossOnInterestRateSwapAgreementsAdjustmentNetOfTax
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CY2020Q4 mcs Accumulated Other Comprehensive Income Loss On Interest Rate Swap Agreements Adjustment Net Of Tax
AccumulatedOtherComprehensiveIncomeLossOnInterestRateSwapAgreementsAdjustmentNetOfTax
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CY2021Q3 us-gaap Accumulated Other Comprehensive Income Loss Defined Benefit Pension And Other Postretirement Plans Net Of Tax
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CY2020Q4 us-gaap Accumulated Other Comprehensive Income Loss Defined Benefit Pension And Other Postretirement Plans Net Of Tax
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CY2021Q3 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
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CY2020Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
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CY2021Q3 us-gaap Defined Benefit Plan Service Cost
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CY2020Q3 us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
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us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;"><b style="font-weight:bold;">2. Impact of COVID-19 Pandemic</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">The COVID-19 pandemic has had an unprecedented impact on the world and both of the Company’s business segments. The situation continues to be volatile and the social and economic effects are widespread. As an operator of movie theatres, hotels and resorts, restaurants and bars, each of which consists of spaces where customers and guests gather in close proximity, the Company’s businesses are significantly impacted by protective actions that federal, state and local governments have taken to control the spread of the pandemic, and customers’ reactions or responses to such actions. These actions have included, among other things, declaring national and state emergencies, encouraging social distancing, restricting freedom of movement and congregation, mandating non-essential business closures, issuing curfews, limiting business capacity, mandating mask-wearing and issuing shelter-in-place, quarantine and stay-at-home orders. </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">The Company began fiscal 2021 with approximately 52% of its theatres open. As state and local restrictions were eased in several of its markets and several new films were released by movie studios, the Company gradually reopened theatres during the 39 weeks ended September 30, 2021 and ended the fiscal 2021 third quarter with approximately 97% of its theatres open. The majority of the Company’s reopened theatres operated with reduced operating days (Fridays, Saturdays, Sundays and Tuesdays) and reduced operating hours during the fiscal 2021 first quarter. By the end of the fiscal 2021 second quarter, the vast majority of the theatres had returned to normal operating days (seven days per week) and operating hours. All of the reopened theatres operated at significantly reduced attendance levels compared to prior pre-COVID-19 pandemic years due to customer concerns related to the COVID-19 pandemic and a reduction in the number of new films released. While still below pre-COVID levels, attendance has gradually improved beginning in June 2021 as the number of vaccinated individuals increased, more films were released and customer willingness to return to movie theatres increased.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">The Company began fiscal 2021 with all eight of its company-owned hotels and all but one of its managed hotels open. The majority of the Company’s restaurants and bars in its hotels and resorts have been open during the first three quarters of fiscal 2021, operating under applicable state and local restrictions and guidelines, and in some cases reduced operating hours. The majority of the Company’s hotels and restaurants are generating significantly reduced revenues as compared to prior pre-COVID-19 pandemic years, although hotel occupancy has been increasing throughout the 2021 fiscal year.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">Since the COVID-19 crisis began, the Company has been working proactively to preserve cash and enhance liquidity. In fiscal 2020, the Company obtained additional financing and modified previously existing debt covenants (see Note 7 in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020). Additionally, early in the Company’s fiscal 2021 third quarter, in conjunction with an amendment to its revolving credit agreement, the Company modified its previously existing debt covenants (see Note 4 for further reference). During the 39 weeks ended September 30, 2021, the Company received the remaining $5,900,000 of requested tax refunds from its fiscal 2019 tax return. During fiscal 2020 and continuing into fiscal 2021, a number of states elected to provide grants to certain businesses most impacted by the COVID-19 pandemic, utilizing funds received by the applicable state under provisions of the Coronavirus Aid, Relief, and Economic Security Act of 2020 (the “CARES Act”) or subsequent federal relief programs. The Company received $8,197,000 of these grants during the 39 weeks ended September 30, 2021, which are included within other operating expenses on the consolidated statement of earnings (loss). The Company has applied for additional state grants totaling approximately $4,600,000 that are expected to be received during the Company’s fiscal 2021 fourth quarter.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">During the first quarter of fiscal 2021, the Company filed income tax refund claims of $24,200,000 related to its fiscal 2020 tax return, with the primary benefit derived from net operating loss carrybacks. The Company received approximately $1,800,000 of this refund in July 2021. Additional income tax loss carryforwards are expected to be generated during fiscal 2021 that will benefit future years.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">The COVID-19 pandemic and the resulting impact on the Company’s operating performance has affected, and may continue to affect, the estimates and assumptions made by management. Such estimates and assumptions include, among other things, the Company’s goodwill and long-lived asset valuations and the measurement of compensation costs for annual and long-term incentive plans. Events and changes in circumstances arising after September 30, 2021, including those resulting from the impacts of COVID-19, will be reflected in management’s estimates for future periods.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">The Company believes that the actions that have been taken will allow it to have sufficient liquidity to meet its obligations as they come due and to comply with its debt covenants for at least 12 months from the issuance date of these unaudited consolidated financial statements. However, future compliance with the Company’s debt covenants are dependent upon the timing of new movie releases and the protective actions that federal, state and local governments have taken which impact consumer confidence and the speed of recovery of the Company’s theatres and hotels and resorts businesses. The Company’s estimates and assumptions related to future forecasted results of the Company are subject to inherent risk and uncertainty due to the ongoing impact of the COVID-19 pandemic, and actual results could differ materially from estimated amounts and impact the Company’s ability to comply with its debt covenants.</p>
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