v3.22.2.2
Revenue from Contracts with Customers
9 Months Ended
Sep. 30, 2022
Revenue from Contract with Customer [Abstract]  
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:

 

 

Three Months Ended September 30, 2022

 

 

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)

$

 

11,162

 

 

$

 

2,671

 

 

$

 

 

207

 

 

$

 

—

 

 

$

 

14,040

 

Joint Revenue Sharing Arrangements, fixed fees

 

 

—

 

 

 

 

—

 

 

 

 

 

998

 

 

 

 

—

 

 

 

 

998

 

Other Theater Business

 

 

2,107

 

 

 

 

—

 

 

 

 

 

—

 

 

 

 

—

 

 

 

 

2,107

 

All Other

 

 

919

 

 

 

 

1

 

 

 

 

 

—

 

 

 

 

—

 

 

 

 

920

 

Sub-total

 

 

14,188

 

 

 

 

2,672

 

 

 

 

 

1,205

 

 

 

 

—

 

 

 

 

18,065

 

Image enhancement and maintenance services

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

IMAX DMR

 

 

—

 

 

 

 

19,919

 

 

 

 

 

—

 

 

 

 

—

 

 

 

 

19,919

 

IMAX Maintenance

 

 

13,939

 

 

 

 

—

 

 

 

 

 

—

 

 

 

 

—

 

 

 

 

13,939

 

Film Distribution

 

 

157

 

 

 

 

924

 

 

 

 

 

—

 

 

 

 

—

 

 

 

 

1,081

 

Film Post-Production

 

 

968

 

 

 

 

—

 

 

 

 

 

—

 

 

 

 

—

 

 

 

 

968

 

All Other

 

 

—

 

 

 

 

326

 

 

 

 

 

—

 

 

 

 

—

 

 

 

 

326

 

Sub-total

 

 

15,064

 

 

 

 

21,169

 

 

 

 

 

—

 

 

 

 

—

 

 

 

 

36,233

 

Technology rentals

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Joint Revenue Sharing Arrangements, contingent rent

 

 

—

 

 

 

 

—

 

 

 

 

 

12,540

 

 

 

 

—

 

 

 

 

12,540

 

Sub-total

 

 

—

 

 

 

 

—

 

 

 

 

 

12,540

 

 

 

 

—

 

 

 

 

12,540

 

Finance income

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

IMAX Systems

 

 

—

 

 

 

 

—

 

 

 

 

 

—

 

 

 

 

1,917

 

 

 

 

1,917

 

Total

$

 

29,252

 

 

$

 

23,841

 

 

$

 

 

13,745

 

 

$

 

1,917

 

 

$

 

68,755

 

 

 

 

Nine Months Ended September 30, 2022

 

 

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)

$

 

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

 

 

 

(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.
(b)
Deferred Revenue

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.