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General (Tables)
6 Months Ended
Jun. 30, 2022
Accounting Policies [Abstract]  
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 Ended26 Weeks Ended
June 30, 2022July 1, 2021June 30, 2022July 1, 2021
Numerator:
Net earnings (loss) attributable to The Marcus Corporation$8,960 $(23,366)$(5,942)$(51,496)
Denominator:
Denominator for basic EPS31,492 31,404 31,469 31,300 
Effect of dilutive employee stock options40 — — — 
Effect of convertible notes9,085 — — — 
Denominator for diluted EPS40,617 31,404 31,469 31,300 
Net earnings (loss) per share - basic:
Common Stock$0.29 $(0.76)$(0.19)$(1.71)
Class B Common Stock$0.26 $(0.68)$(0.18)$(1.44)
Net earnings (loss) per share - diluted:
Common Stock$0.24 $(0.76)$(0.19)$(1.71)
Class B Common Stock$0.23 $(0.68)$(0.18)$(1.44)
Schedule of Stockholders Equity Activity impacting total shareholders’ equity attributable to The Marcus Corporation and noncontrolling interest for the 13 and 26 weeks ended June 30, 2022 and July 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
Interest
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 contribution56 — 900 — — — 956 — 956 
Reissuance of treasury stock— — — — — 
Issuance of non-vested stock78 — (236)— — 158 — — — 
Shared-based compensation— — 2,917 — — — 2,917 — 2,917 
Other— — (1)— — — — — 
Conversions of Class B Common Stock19 (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 
Exercise of stock options— — (16)— — 69 53 — 53 
Purchase of treasury stock— — — — — (104)(104)— (104)
Reissuance of treasury stock— — (2)— — — 
Issuance of non-vested stock— — (305)— — 305 — — — 
Shared-based compensation— — 1,655 — — — 1,655 — 1,655 
Other— — (1)— — — — — 
Comprehensive income— — — 8,960 384 — 9,344 — 9,344 
BALANCES AT JUNE 30, 2022
$24,498 $7,111 $150,565 $283,364 $(10,529)$(2,276)$452,733 $— $452,733 
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
Interest
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 contribution44 — 968 — — — 1,012 — 1,012 
Reissuance of treasury stock— — — — 10 12 — 12 
Issuance of non-vested stock221 — (367)— — 146 — — — 
Shared-based compensation— — 1,484 — — — 1,484 — 1,484 
Other— — — (1)— — — — 
Conversions of Class B Common Stock520 (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 
Exercise of stock options— — (40)— — 122 82 — 82 
Purchase of treasury stock— — — — — (73)(73)— (73)
Reissuance of treasury stock— — (1)— — — 
Issuance of non-vested stock18 — (157)— — 139 — — — 
Shared-based compensation— — 2,668 — — — 2,668 — 2,668 
Conversions of Class B Common Stock275 (275)— — — — — — — 
Comprehensive income (loss)— — — (23,366)356 — (23,010)— (23,010)
BALANCES AT JULY 1, 2021$24,342 $7,131 $140,916 $281,102 $(14,125)$(1,838)$437,528 $— $437,528 
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:
June 30,
2022
December 30,
2021
Unrecognized gain (loss) on interest rate swap agreements$26 $(509)
Net unrecognized actuarial loss for pension obligation(10,555)$(10,935)
$(10,529)$(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 Ended26 Weeks Ended
June 30, 2022July 1, 2021June 30, 2022July 1, 2021
Service cost$264 $280 $528 $561 
Interest cost335 301 670 601 
Net amortization of prior service cost and actuarial loss257 327 514 655 
Net periodic pension cost$856 $908 $1,712 $1,817 
Schedule of Disaggregation of Revenue The disaggregation of revenues by business segment for the 13 and 26 weeks ended June 30, 2022 is as follows:
13 Weeks Ended June 30, 2022
TheatresHotels/Resorts CorporateTotal
Theatre admissions$63,087 $— $— $63,087 
Rooms— 28,865 — 28,865 
Theatre concessions58,147 — — 58,147 
Food and beverage— 19,014 — 19,014 
Other revenues(1)
8,203 12,872 117 21,192 
Cost reimbursements— 8,250 — 8,250 
Total revenues$129,437 $69,001 $117 $198,555 
26 Weeks Ended June 30, 2022
TheatresHotels/ResortsCorporateTotal
Theatre admissions$101,504 $— $— $101,504 
Rooms— 46,295 — 46,295 
Theatre concessions93,611 — — 93,611 
Food and beverage— 33,525 — 33,525 
Other revenues(1)
13,813 25,975 211 39,999 
Cost reimbursements— 15,863 — 15,863 
Total revenues$208,928 $121,658 $211 $330,797 
(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 and 26 weeks ended July 1, 2021 is as follows:
13 Weeks Ended July 1, 2021
TheatresHotels/ResortsCorporateTotal
Theatre admissions$24,915 $— $— $24,915 
Rooms— 17,332 — 17,332 
Theatre concessions23,061 — — 23,061 
Food and beverage— 9,591 — 9,591 
Other revenues(1)
4,281 9,855 95 14,231 
Cost reimbursements44 3,373 — 3,417 
Total revenues$52,301 $40,151 $95 $92,547 
26 Weeks Ended July 1, 2021
TheatresHotels/ResortsCorporateTotal
Theatre admissions$35,600 $— $— $35,600 
Rooms— 26,376 — 26,376 
Theatre concessions32,980 — — 32,980 
Food and beverage— 15,503 — 15,503 
Other revenues(1)
6,196 19,734 195 26,125 
Cost reimbursements87 6,663 — 6,750 
Total revenues$74,863 $68,276 $195 $143,334 
(1)Included in other revenues is an immaterial amount related to rental income that is not considered revenue from contracts with customers.