| Revenue from Contracts with Customers |
14. Revenue from Contracts with Customers (a)Disaggregated Information About Revenue The following tables summarize the Company's revenues by type and reportable segment for the three and nine months ended September 30, 2022 and 2021:
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|
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|
Three Months Ended September 30, 2022 |
|
|
Revenue from |
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|
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|
|
|
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|
|
|
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Contracts with Customers |
|
|
Revenue from |
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|
|
|
|
|
|
|
(In thousands of U.S. Dollars) |
Fixed Consideration |
|
|
Variable Consideration |
|
|
Lease Arrangements |
|
|
Finance Income |
|
|
Total |
|
Technology sales |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
IMAX Systems(1) |
$ |
|
11,162 |
|
|
$ |
|
2,671 |
|
|
$ |
|
|
207 |
|
|
$ |
|
— |
|
|
$ |
|
14,040 |
|
Joint Revenue Sharing Arrangements, fixed fees |
|
|
— |
|
|
|
|
— |
|
|
|
|
|
998 |
|
|
|
|
— |
|
|
|
|
998 |
|
Other Theater Business |
|
|
2,107 |
|
|
|
|
— |
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
2,107 |
|
All Other |
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|
919 |
|
|
|
|
1 |
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
920 |
|
Sub-total |
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|
14,188 |
|
|
|
|
2,672 |
|
|
|
|
|
1,205 |
|
|
|
|
— |
|
|
|
|
18,065 |
|
Image enhancement and maintenance services |
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|
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|
|
|
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|
|
|
|
|
|
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|
IMAX DMR |
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— |
|
|
|
|
19,919 |
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|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
19,919 |
|
IMAX Maintenance |
|
|
13,939 |
|
|
|
|
— |
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
13,939 |
|
Film Distribution |
|
|
157 |
|
|
|
|
924 |
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
1,081 |
|
Film Post-Production |
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|
968 |
|
|
|
|
— |
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
968 |
|
All Other |
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— |
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|
|
|
326 |
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
326 |
|
Sub-total |
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|
15,064 |
|
|
|
|
21,169 |
|
|
|
|
|
— |
|
|
|
|
— |
|
|
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|
36,233 |
|
Technology rentals |
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|
|
|
|
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|
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|
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|
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|
|
|
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Joint Revenue Sharing Arrangements, contingent rent |
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|
— |
|
|
|
|
— |
|
|
|
|
|
12,540 |
|
|
|
|
— |
|
|
|
|
12,540 |
|
Sub-total |
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|
— |
|
|
|
|
— |
|
|
|
|
|
12,540 |
|
|
|
|
— |
|
|
|
|
12,540 |
|
Finance income |
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
IMAX Systems |
|
|
— |
|
|
|
|
— |
|
|
|
|
|
— |
|
|
|
|
1,917 |
|
|
|
|
1,917 |
|
Total |
$ |
|
29,252 |
|
|
$ |
|
23,841 |
|
|
$ |
|
|
13,745 |
|
|
$ |
|
1,917 |
|
|
$ |
|
68,755 |
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|
|
|
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|
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|
Nine Months Ended September 30, 2022 |
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|
Revenue from |
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|
|
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|
|
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|
|
Contracts with Customers |
|
|
Revenue from |
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|
|
|
|
|
|
|
(In thousands of U.S. Dollars) |
Fixed consideration |
|
|
Variable consideration |
|
|
Lease Arrangements |
|
|
Finance Income |
|
|
Total |
|
Technology sales |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
IMAX Systems(1) |
$ |
|
22,032 |
|
|
$ |
|
4,055 |
|
|
$ |
|
|
241 |
|
|
$ |
|
— |
|
|
$ |
|
26,328 |
|
Joint Revenue Sharing Arrangements, fixed fees |
|
|
— |
|
|
|
|
— |
|
|
|
|
|
2,486 |
|
|
|
|
— |
|
|
|
|
2,486 |
|
Other Theater Business |
|
|
3,697 |
|
|
|
|
— |
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
3,697 |
|
All Other |
|
|
2,677 |
|
|
|
|
82 |
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
2,759 |
|
Sub-total |
|
|
28,406 |
|
|
|
|
4,137 |
|
|
|
|
|
2,727 |
|
|
|
|
— |
|
|
|
|
35,270 |
|
Image enhancement and maintenance services |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
IMAX DMR |
|
|
— |
|
|
|
|
67,064 |
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
67,064 |
|
IMAX Maintenance |
|
|
43,564 |
|
|
|
|
— |
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
43,564 |
|
Film Distribution |
|
|
324 |
|
|
|
|
2,179 |
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
2,503 |
|
Film Post-Production |
|
|
2,915 |
|
|
|
|
— |
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
2,915 |
|
All Other |
|
|
— |
|
|
|
|
1,239 |
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
1,239 |
|
Sub-total |
|
|
46,803 |
|
|
|
|
70,482 |
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
117,285 |
|
Technology rentals |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Joint Revenue Sharing Arrangements, contingent rent |
|
|
— |
|
|
|
|
— |
|
|
|
|
|
43,708 |
|
|
|
|
— |
|
|
|
|
43,708 |
|
All Other |
|
|
— |
|
|
|
|
— |
|
|
|
|
|
18 |
|
|
|
|
— |
|
|
|
|
18 |
|
Sub-total |
|
|
— |
|
|
|
|
— |
|
|
|
|
|
43,726 |
|
|
|
|
— |
|
|
|
|
43,726 |
|
Finance income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
IMAX Systems |
|
|
— |
|
|
|
|
— |
|
|
|
|
|
— |
|
|
|
|
6,478 |
|
|
|
|
6,478 |
|
Total |
$ |
|
75,209 |
|
|
$ |
|
74,619 |
|
|
$ |
|
|
46,453 |
|
|
$ |
|
6,478 |
|
|
$ |
|
202,759 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended September 30, 2021 |
|
|
Revenue from |
|
|
|
|
|
|
|
|
|
|
|
|
Contracts with Customers |
|
|
Revenue from |
|
|
|
|
|
|
|
|
(In thousands of U.S. Dollars) |
Fixed Consideration |
|
|
Variable Consideration |
|
|
Lease Arrangements |
|
|
Finance Income |
|
|
Total |
|
Technology sales |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
IMAX Systems(1) |
$ |
|
9,701 |
|
|
$ |
|
802 |
|
|
$ |
|
|
98 |
|
|
$ |
|
— |
|
|
$ |
|
10,601 |
|
Joint Revenue Sharing Arrangements, fixed fees |
|
|
— |
|
|
|
|
— |
|
|
|
|
|
1,036 |
|
|
|
|
— |
|
|
|
|
1,036 |
|
Other Theater Business |
|
|
363 |
|
|
|
|
— |
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
363 |
|
All Other |
|
|
1,154 |
|
|
|
|
6 |
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
1,160 |
|
Sub-total |
|
|
11,218 |
|
|
|
|
808 |
|
|
|
|
|
1,134 |
|
|
|
|
— |
|
|
|
|
13,160 |
|
Image enhancement and maintenance services |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
IMAX DMR |
|
|
— |
|
|
|
|
15,701 |
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
15,701 |
|
IMAX Maintenance |
|
|
13,055 |
|
|
|
|
— |
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
13,055 |
|
Film Distribution |
|
|
203 |
|
|
|
|
496 |
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
699 |
|
Film Post-Production |
|
|
899 |
|
|
|
|
— |
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
899 |
|
All Other |
|
|
— |
|
|
|
|
234 |
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
234 |
|
Sub-total |
|
|
14,157 |
|
|
|
|
16,431 |
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
30,588 |
|
Technology rentals |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Joint Revenue Sharing Arrangements, contingent rent |
|
|
— |
|
|
|
|
— |
|
|
|
|
|
9,887 |
|
|
|
|
— |
|
|
|
|
9,887 |
|
All Other |
|
|
— |
|
|
|
|
— |
|
|
|
|
|
332 |
|
|
|
|
— |
|
|
|
|
332 |
|
Sub-total |
|
|
— |
|
|
|
|
— |
|
|
|
|
|
10,219 |
|
|
|
|
— |
|
|
|
|
10,219 |
|
Finance income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
IMAX Systems |
|
|
— |
|
|
|
|
— |
|
|
|
|
|
— |
|
|
|
|
2,635 |
|
|
|
|
2,635 |
|
Total |
$ |
|
25,375 |
|
|
$ |
|
17,239 |
|
|
$ |
|
|
11,353 |
|
|
$ |
|
2,635 |
|
|
$ |
|
56,602 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nine Months Ended September 30, 2021 |
|
|
Revenue from |
|
|
|
|
|
|
|
|
|
|
|
|
Contracts with Customers |
|
|
Revenue from |
|
|
|
|
|
|
|
|
(In thousands of U.S. Dollars) |
Fixed consideration |
|
|
Variable consideration |
|
|
Lease Arrangements |
|
|
Finance Income |
|
|
Total |
|
Technology sales |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
IMAX Systems(1) |
$ |
|
20,143 |
|
|
$ |
|
2,573 |
|
|
$ |
|
|
4,220 |
|
|
$ |
|
— |
|
|
$ |
|
26,936 |
|
Joint Revenue Sharing Arrangements, fixed fees |
|
|
— |
|
|
|
|
— |
|
|
|
|
|
3,776 |
|
|
|
|
— |
|
|
|
|
3,776 |
|
Other Theater Business |
|
|
1,275 |
|
|
|
|
— |
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
1,275 |
|
All Other |
|
|
2,474 |
|
|
|
|
47 |
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
2,521 |
|
Sub-total |
|
|
23,892 |
|
|
|
|
2,620 |
|
|
|
|
|
7,996 |
|
|
|
|
— |
|
|
|
|
34,508 |
|
Image enhancement and maintenance services |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
IMAX DMR |
|
|
— |
|
|
|
|
39,438 |
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
39,438 |
|
IMAX Maintenance |
|
|
33,196 |
|
|
|
|
— |
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
33,196 |
|
Film Distribution |
|
|
204 |
|
|
|
|
911 |
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
1,115 |
|
Film Post-Production |
|
|
2,886 |
|
|
|
|
— |
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
2,886 |
|
All Other |
|
|
— |
|
|
|
|
279 |
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
279 |
|
Sub-total |
|
|
36,286 |
|
|
|
|
40,628 |
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
76,914 |
|
Technology rentals |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Joint Revenue Sharing Arrangements, contingent rent |
|
|
— |
|
|
|
|
— |
|
|
|
|
|
26,108 |
|
|
|
|
— |
|
|
|
|
26,108 |
|
All Other |
|
|
— |
|
|
|
|
— |
|
|
|
|
|
600 |
|
|
|
|
— |
|
|
|
|
600 |
|
Sub-total |
|
|
— |
|
|
|
|
— |
|
|
|
|
|
26,708 |
|
|
|
|
— |
|
|
|
|
26,708 |
|
Finance income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
IMAX Systems |
|
|
— |
|
|
|
|
— |
|
|
|
|
|
— |
|
|
|
|
8,181 |
|
|
|
|
8,181 |
|
Total |
$ |
|
60,178 |
|
|
$ |
|
43,248 |
|
|
$ |
|
|
34,704 |
|
|
$ |
|
8,181 |
|
|
$ |
|
146,311 |
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(1)Includes revenues earned from sale and sales-type lease arrangements involving new and upgraded IMAX Theater Systems, as well as the impact of renewals and amendments to existing theater system arrangements. IMAX Theater System sale and lease arrangements include a requirement for the Company to provide maintenance services over the life of the arrangement, subject to a consumer price index adjustment each year. In circumstances where customers prepay the entire term's maintenance fee, additional payments are due to the Company for the years after its extended warranty and maintenance obligations expire. Payments upon renewal each year are either prepaid or made in arrears and can vary in frequency from monthly to annually. As of September 30, 2022, $16.3 million of consideration has been deferred in relation to outstanding maintenance services to be provided on existing maintenance contracts (December 31, 2021 — $20.2 million). Maintenance revenue is recognized evenly over the contract term which coincides with the period over which maintenance services are provided. In the event of customer default, any payments made by the customer may be retained by the Company. In instances where the Company receives consideration prior to satisfying its performance obligations, the recognition of revenue is deferred. The majority of the deferred revenue balance relates to payments received by the Company for IMAX Theater Systems where control of the system has not transferred to the customer. The deferred revenue balance related to an individual theater increases as progress payments are made and is then derecognized when control of the system is transferred to the customer. Recognition dates are variable and depend on numerous factors, including some outside of the Company's control.
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