General (Tables)

3 Months Ended

Mar. 31, 2022

Schedule of Earnings Per Share, Basic and Diluted

The following table illustrates the computation of Common Stock basic and diluted net earnings (loss) per share and provides a reconciliation of the number of weighted-average basic and diluted shares outstanding:


	13 Weeks Ended
	March 31, 2022		April 1, 2021

Numerator:
Net loss attributable to The Marcus Corporation	$	(14,902)	$	(28,130)
Denominator:
Denominator for basic EPS	31,445		31,196
Effect of dilutive employee stock options	—		—
Effect of convertible notes	—		—
Denominator for diluted EPS	31,445		31,196
Net loss per share - basic:
Common Stock	$	(0.48)	$	(0.93)
Class B Common Stock	$	(0.44)	$	(0.80)
Net loss per share - diluted:
Common Stock	$	(0.48)	$	(0.93)
Class B Common Stock	$	(0.44)	$	(0.80)

Schedule of Stockholders Equity

Activity impacting total shareholders’ equity attributable to The Marcus Corporation and noncontrolling interests for the 13 weeks ended March 31, 2022 and April 1, 2021 was as follows:


	Common Stock		Class B Common Stock		Capital in Excess of Par		Retained Earnings		Accumulated Other Comprehensive Income (Loss)		Treasury Stock		Shareholders’ Equity Attributable to The Marcus Corporation		Non- controlling Interests		Total Equity
BALANCES AT DECEMBER 30, 2021	$	24,345	$	7,130	$	145,656	$	289,306	$	(11,444)	$	(1,379)	$	453,614	$	—	$	453,614
Exercise of stock options	—		—		(5)		—		—		31		26		—		26
Purchase of treasury stock	—		—		—		—		—		(1,373)		(1,373)		—		(1,373)
Savings and profit-sharing contribution	56		—		900		—		—		—		956		—		956
Reissuance of treasury stock	—		—		1		—		—		8		9		—		9
Issuance of non-vested stock	78		—		(236)		—		—		158		—		—		—
Shared-based compensation	—		—		2,917		—		—		—		2,917		—		2,917
Other	—		—		1		(1)		—		—		—		—		—
Conversions of Class B Common Stock	19		(19)		—		—		—		—		—		—		—
Comprehensive income (loss)	—		—		—		(14,902)		531		—		(14,371)		—		(14,371)
BALANCES AT MARCH 31, 2022	$	24,498	$	7,111	$	149,234	$	274,403	$	(10,913)	$	(2,555)	$	441,778	$	—	$	441,778


	Common Stock		Class B Common Stock		Capital in Excess of Par		Retained Earnings		Accumulated Other Comprehensive Income (Loss)		Treasury Stock		Shareholders’ Equity Attributable to The Marcus Corporation		Non- controlling Interests		Total Equity
BALANCES AT DECEMBER 31, 2020	$	23,264	$	7,926	$	153,529	$	331,897	$	(14,933)	$	(2,960)	$	498,723	$	—	$	498,723
Adoption of ASU No. 2020-06	—		—		(16,511)		702		—		—		(15,809)		—		(15,809)
Exercise of stock options	—		—		(659)		—		—		1,951		1,292		—		1,292
Purchase of treasury stock	—		—		—		—		—		(1,181)		(1,181)		—		(1,181)
Savings and profit-sharing contribution	44		—		968		—		—		—		1,012		—		1,012
Reissuance of treasury stock	—		—		2		—		—		10		12		—		12
Issuance of non-vested stock	221		—		(367)		—		—		146		—		—		—
Shared-based compensation	—		—		1,484		—		—		—		1,484		—		1,484
Other	—		—		—		(1)		—		1		—		—		—
Conversions of Class B Common Stock	520		(520)		—		—		—		—		—		—		—
Comprehensive income (loss)	—		—		—		(28,130)		452		—		(27,678)		—		(27,678)
BALANCES AT APRIL 1, 2021	$	24,049	$	7,406	$	138,446	$	304,468	$	(14,481)	$	(2,033)	$	457,855	$	—	$	457,855

Schedule of Accumulated Other Comprehensive Income (Loss)

Accumulated other comprehensive loss presented in the accompanying consolidated balance sheets consists of the following, all presented net of tax:


	March 31, 2022		December 30, 2021

Unrecognized loss on interest rate swap agreements	$	(168)	$	(509)
Net unrecognized actuarial loss for pension obligation	(10,745)		$	(10,935)
	$	(10,913)	$	(11,444)

Schedule of Defined Benefit Plan

The components of the net periodic pension cost of the Company’s unfunded nonqualified, defined-benefit plan are as follows:


	13 Weeks Ended
	March 31, 2022		April 1, 2021

Service cost	$	264	$	281
Interest cost	335		$	300
Net amortization of prior service cost and actuarial loss	257		$	328
Net periodic pension cost	$	856	$	909

Schedule of Disaggregation of Revenue

The disaggregation of revenues by business segment for the 13 weeks ended March 31, 2022 is as follows:


	13 Weeks Ended March 31, 2022
	Reportable Segment
	Theatres		Hotels/Resorts		Corporate		Total
Theatre admissions	$	38,417	$	—	$	—	$	38,417
Rooms	—		17,430		—		17,430
Theatre concessions	35,464		—		—		35,464
Food and beverage	—		14,511		—		14,511
Other revenues(1)	5,610		13,103		94		18,807
Cost reimbursements	—		7,613		—		7,613
Total revenues	$	79,491	$	52,657	$	94	$	132,242

(1)Included in other revenues is an immaterial amount related to rental income that is not considered revenue from contracts with customers.

The disaggregation of revenues by business segment for the 13 weeks ended April 1, 2021 is as follows:


	13 Weeks Ended April 1, 2021
	Reportable Segment
	Theatres		Hotels/Resorts		Corporate		Total
Theatre admissions	$	10,685	$	—	$	—	$	10,685
Rooms	—		9,044		—		9,044
Theatre concessions	9,919		—		—		9,919
Food and beverage	—		5,912		—		5,912
Other revenues(1)	1,915		9,879		100		11,894
Cost reimbursements	43		3,290		—		3,333
Total revenues	$	22,562	$	28,125	$	100	$	50,787

(1)Included in other revenues is an immaterial amount related to rental income that is not considered revenue from contracts with customers.