The Marcus Corporation (MCS) 10-Q1 Aug 242024 Q2 Quarterly reportFinancial data

Company Profile

Cover

Cover - shares	6 Months Ended
Cover - shares	Jun. 27, 2024	Jul. 30, 2024
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 27, 2024
Document Transition Report	false
Entity File Number	1-12604
Entity Registrant Name	MARCUS CORP
Entity Incorporation, State or Country Code	WI
Entity Tax Identification Number	39-1139844
Entity Address, Address Line One	100 East
Entity Address, Address Line Two	Wisconsin Avenue
Entity Address, Address Line Three	Suite 1900
Entity Address, City or Town	Milwaukee
Entity Address, State or Province	WI
Entity Address, Postal Zip Code	53202-4125
City Area Code	414
Local Phone Number	905-1000
Title of 12(b) Security	Common Stock, $1.00 par value
Trading Symbol	MCS
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Central Index Key	0000062234
Current Fiscal Year End Date	--12-26
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Amendment Flag	false
Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		25,189,021
Class B Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		6,984,584

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 27, 2024	Dec. 28, 2023
Current assets:
Cash and cash equivalents	$ 32,810	$ 55,589
Restricted cash	4,975	4,249
Accounts receivable, net of reserves of $213 and $115, respectively	28,046	19,703
Other current assets	24,882	22,175
Total current assets	90,713	101,716
Property and equipment:
Land and improvements	130,837	131,833
Buildings and improvements	731,936	719,521
Leasehold improvements	163,693	166,245
Furniture, fixtures and equipment	419,515	397,150
Finance lease right-of-use assets	30,037	30,106
Construction in progress	7,937	11,432
Total property and equipment	1,483,955	1,456,287
Less accumulated depreciation and amortization	798,091	774,025
Net property and equipment	685,864	682,262
Operating lease right-of-use assets	171,193	179,788
Other assets:
Investments in joint ventures	5,401	1,718
Goodwill	74,996	74,996
Other	23,931	24,623
Total other assets	104,328	101,337
TOTAL ASSETS	1,052,098	1,065,103
Current liabilities:
Accounts payable	47,804	37,384
Taxes other than income taxes	18,635	18,585
Accrued compensation	19,174	22,598
Other accrued liabilities	66,151	57,685
Current portion of finance lease obligations	2,512	2,579
Current portion of operating lease obligations	14,077	15,290
Current maturities of long-term debt	10,815	10,303
Total current liabilities	179,168	164,424
Finance lease obligations	11,578	12,753
Operating lease obligations	170,638	178,582
Long-term debt	164,862	159,548
Deferred income taxes	30,150	32,235
Other long-term obligations	46,276	46,389
Shareholders’ Equity:
Preferred Stock, $1 par; authorized 1,000,000 shares; none issued	0	0
Capital in excess of par	174,839	160,642
Retained earnings	245,093	281,599
Accumulated other comprehensive loss	(1,359)	(1,336)
Stockholders' equity before treasury stock	450,795	472,675
Less cost of Common Stock in treasury (48,380 shares at June 27, 2024 and 47,916 shares at December 28, 2023)	(1,369)	(1,503)
Total shareholders’ equity	449,426	471,172
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	1,052,098	1,065,103
Common Stock
Shareholders’ Equity:
Common Stock	25,237	24,692
Class B Common Stock
Shareholders’ Equity:
Common Stock	$ 6,985	$ 7,078

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 27, 2024	Dec. 28, 2023
Accounts receivables	$ 213	$ 115
Preferred stock, par (in dollars per share)	$ 1	$ 1
Preferred stock, authorized (in shares)	1,000,000	1,000,000
Preferred stock, issued (in shares)	0	0
Cost of common stock in treasury (in shares)	48,380	47,916
Common Stock
Common stock, par (in dollars per share)	$ 1	$ 1
Common stock, authorized (in shares)	50,000,000	50,000,000
Common stock, issued (in shares)	25,237,374	24,691,548
Class B Common Stock
Common stock, par (in dollars per share)	$ 1	$ 1
Common stock, authorized (in shares)	33,000,000	33,000,000
Common stock, issued (in shares)	6,984,584	7,078,410
Common stock, outstanding (in shares)	6,984,584	7,078,410

Consolidated Statements of Earn

Consolidated Statements of Earnings (Loss) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 27, 2024	Jun. 29, 2023	Jun. 27, 2024	Jun. 29, 2023
Revenues:
Revenues other than cost reimbursements	$ 165,299	$ 197,341	$ 294,668	$ 340,089
Cost reimbursements	10,733	9,666	19,911	19,194
Total revenues	176,032	207,007	314,579	359,283
Costs and expenses:
Advertising and marketing	6,502	5,613	11,803	10,678
Administrative	22,630	19,466	44,032	39,317
Depreciation and amortization	16,699	15,994	32,714	31,870
Rent	6,496	6,594	12,843	13,087
Property taxes	3,688	4,532	7,619	9,289
Other operating expenses	9,741	9,636	19,611	19,287
(Gain) loss on disposition of property, equipment and other assets	(43)	379	(20)	777
Impairment charges	472	0	472	0
Reimbursed costs	10,733	9,666	19,911	19,194
Total costs and expenses	173,795	186,197	329,007	347,461
Operating income (loss)	2,237	20,810	(14,428)	11,822
Other income (expense):
Investment income	173	359	865	619
Interest expense	(2,564)	(3,093)	(5,098)	(6,101)
Other income (expense)	(390)	(477)	(731)	(878)
Debt conversion expense	(13,908)	0	(13,908)	0
Equity losses from unconsolidated joint ventures	(50)	(31)	(437)	(202)
Nonoperating income (expense), total	(16,739)	(3,242)	(19,309)	(6,562)
Earnings (loss) before income taxes	(14,502)	17,568	(33,737)	5,260
Income tax expense (benefit)	5,719	4,102	(1,650)	1,260
Net earnings (loss)	$ (20,221)	$ 13,466	$ (32,087)	$ 4,000
Common Stock
Net earnings (loss) per share - basic:
Net earnings (loss) per share - basic (in dollars per share)	$ (0.64)	$ 0.43	$ (1.03)	$ 0.13
Net earnings (loss) per share - diluted:
Net earnings (loss) per share - diluted (in dollars per share)	(0.64)	0.35	(1.03)	0.13
Class B Common Stock
Net earnings (loss) per share - basic:
Net earnings (loss) per share - basic (in dollars per share)	(0.58)	0.39	(0.92)	0.12
Net earnings (loss) per share - diluted:
Net earnings (loss) per share - diluted (in dollars per share)	$ (0.58)	$ 0.34	$ (0.92)	$ 0.12
Theatre admissions
Revenues:
Revenues	$ 48,580	$ 68,987	$ 89,176	$ 116,622
Rooms
Revenues:
Revenues	30,496	28,646	48,709	46,503
Costs and expenses:
Costs	11,164	10,360	20,575	19,638
Theatre concessions
Revenues:
Revenues	44,417	59,707	79,112	102,082
Costs and expenses:
Costs	18,515	22,601	33,401	38,331
Food and beverage
Revenues:
Revenues	19,272	18,573	35,435	33,766
Costs and expenses:
Costs	15,080	14,451	28,943	28,019
Other revenues
Revenues:
Revenues	22,534	21,428	42,236	41,116
Theatre operations
Costs and expenses:
Costs	$ 52,118	$ 66,905	$ 97,103	$ 117,974

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 27, 2024	Jun. 29, 2023	Jun. 27, 2024	Jun. 29, 2023
Statement of Comprehensive Income [Abstract]
Net earnings (loss)	$ (20,221)	$ 13,466	$ (32,087)	$ 4,000
Other comprehensive loss, net of tax:
Amortization of the net actuarial loss and prior service credit related to the pension, net of tax benefit of $5, $4, $9 and $9, respectively	(11)	(12)	(23)	(23)
Fair market value adjustment of interest rate swap, net of tax benefit of $8	0	0	0	(22)
Reclassification adjustment on interest rate swap included in interest expense, net of tax benefit of $20	0	0	0	(58)
Other comprehensive loss	(11)	(12)	(23)	(103)
Comprehensive income (loss)	$ (20,232)	$ 13,454	$ (32,110)	$ 3,897

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Income (Loss) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 27, 2024	Jun. 29, 2023	Jun. 27, 2024	Jun. 29, 2023
Statement of Comprehensive Income [Abstract]
Amortization of the net actuarial loss and prior service credit related to the pension, net of tax effect (benefit)	$ (5)	$ (4)	$ (9)	$ (9)
Fair market value adjustment of interest rate swap, net of tax effect (benefit)				(8)
Reclassification adjustment on interest rate swap included in interest expense, net of tax effect (benefit)				$ (20)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 27, 2024	Jun. 29, 2023
OPERATING ACTIVITIES:
Net earnings (loss)	$ (32,087)	$ 4,000
Adjustments to reconcile net loss to net cash used in operating activities:
Losses on investments in joint ventures	437	202
(Gain) loss on disposition of property, equipment and other assets	(20)	777
Impairment charges	472	0
Debt conversion expense	13,908	0
Depreciation and amortization	32,714	31,870
Amortization of debt issuance costs	708	742
Share-based compensation	4,932	3,687
Deferred income taxes	(2,077)	780
Other long-term obligations	555	176
Contribution of the Company’s stock to savings and profit-sharing plan	0	1,259
Changes in operating assets and liabilities:
Accounts receivable	(747)	895
Other assets	1,093	(1,796)
Operating leases	(314)	(522)
Accounts payable	5,704	6,341
Income taxes	240	94
Taxes other than income taxes	50	1,670
Accrued compensation	(3,424)	(3,634)
Other accrued liabilities	(1,267)	785
Total adjustments	52,964	43,326
Net cash provided by operating activities	20,877	47,326
INVESTING ACTIVITIES:
Capital expenditures	(35,283)	(15,896)
Proceeds from disposals of property, equipment and other assets	71	46
Capital contribution in joint venture	(5,620)	0
Subscription and sale of joint venture interests	1,500	0
Proceeds from sale of trading securities	37	17
Purchase of trading securities	(1,148)	(514)
Other investing activities	(197)	(295)
Net cash used in investing activities	(40,640)	(16,642)
Debt transactions:
Proceeds from borrowings on revolving credit facility	81,000	38,000
Repayment of borrowings on revolving credit facility	(36,000)	(38,000)
Principal payments on long-term debt	(681)	(763)
Repurchase of convertible senior notes	(46,481)	0
Proceeds from capped call unwind	5,770	0
Debt issuance costs	0	(50)
Principal payments on finance lease obligations	(1,214)	(1,201)
Equity transactions:
Treasury stock transactions, except for stock options	(265)	(494)
Exercise of stock options	0	93
Dividends paid	(4,419)	(3,097)
Distributions to noncontrolling interest	0	(824)
Net cash used in financing activities	(2,290)	(6,336)
Net increase (decrease) in cash, cash equivalents and restricted cash	(22,053)	24,348
Cash, cash equivalents and restricted cash at beginning of period	59,838	24,506
Cash, cash equivalents and restricted cash at end of period	37,785	48,854
Supplemental Information:
Interest paid, net of amounts capitalized	5,643	4,622
Income taxes paid, including interest earned	188	386
Change in accounts payable for additions to property, equipment and other assets	$ 4,716	$ 2,096

General

General	6 Months Ended
General	Jun. 27, 2024
Accounting Policies [Abstract]
General	General Basis of Presentation - The unaudited consolidated financial statements for the 13 and 26 weeks ended June 27, 2024 and June 29, 2023 have been prepared by the Company. In the opinion of management, all adjustments, consisting of normal recurring adjustments necessary to present fairly the unaudited interim financial information at June 27, 2024, and for all periods presented, have been made. The results of operations during the interim periods are not necessarily indicative of the results of operations for the entire year or other interim periods. However, the unaudited consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 28, 2023. Accounting Policies - Refer to the Company’s audited consolidated financial statements (including footnotes) for the fiscal year ended December 28, 2023, contained in the Company’s Annual Report on Form 10-K for such year, for a description of the Company’s accounting policies. Depreciation and Amortization - Depreciation and amortization of property and equipment are provided using the straight-line method over the shorter of the estimated useful lives of the assets or any related lease terms. Depreciation expense totaled $16,701 and $32,715 for the 13 and 26 weeks ended June 27, 2024, respectively, and $15,986 and $31,854 for the 13 and 26 weeks ended June 29, 2023, respectively. Assets Held for Sale – Long-lived assets that are expected to be sold within the next 12 months and meet the other relevant held-for-sale criteria are classified as assets held for sale and included within current assets on the consolidated balance sheet. Assets held for sale are measured at the lower of their carrying value or their fair value less costs to sell the asset. Long-Lived Assets – The Company periodically considers whether indicators of impairment of long-lived assets held for use are present. This includes quantitative and qualitative factors, including evaluating the historical actual operating performance of the long-lived assets and assessing the potential impact of recent events and transactions impacting the long-lived assets. If such indicators are present, the Company determines if the long-lived assets are recoverable by assessing whether the sum of the estimated undiscounted future cash flows attributable to such assets is less than their carrying amounts. If the long-lived assets are not recoverable, the Company recognizes any impairment losses based on the excess of the carrying amount of the assets over their fair value. During the 13 weeks ended June 27, 2024, the Company determined that indicators of impairment were present at one asset group for a leased theatre location that we made the decision to close during the second quarter of fiscal 2024. As such, the Company evaluated the fair value of these assets, consisting primarily of land improvements, leasehold improvements, building, furniture, fixtures and equipment, and operating lease right-of-use assets less lease obligations, and determined that the fair value, measured using Level 3 pricing inputs (using estimated discounted cash flows over the life of the primary asset), was less than their carrying values and recorded a $472 impairment loss, reducing certain property and equipment and certain operating lease net obligations. The remaining net book value of the impaired assets as of the date of the asset write-down (June 27, 2024) was $0. There were no indicators of impairment identified during the 26 weeks ended June 29, 2023. Goodwill – The Company reviews goodwill for impairment annually or more frequently if certain indicators arise. The Company performs its annual impairment test on the first day of the fiscal fourth quarter. There were no indicators of impairment identified during the 26 weeks ended June 27, 2024 or June 29, 2023. Earnings (Loss) Per Share - Net earnings (loss) per share (EPS) of Common Stock and Class B Common Stock is computed using the two class method. Basic net earnings (loss) per share is computed by dividing net earnings (loss) by the weighted-average number of common shares outstanding. Diluted net earnings (loss) per share is computed by dividing net earnings (loss) by the weighted-average number of common shares outstanding, adjusted for the effect of dilutive stock options, restricted stock units, performance stock units and convertible debt instruments using the if-converted method. Convertible Class B Common Stock and convertible debt instruments are reflected on an if-converted basis when dilutive to Common Stock. The computation of the diluted net earnings (loss) per share of Common Stock assumes the conversion of Class B Common Stock in periods that have net earnings since it would be dilutive to Common Stock earnings per share, while the diluted net earnings (loss) per share of Class B Common Stock does not assume the conversion of those shares. Holders of Common Stock are entitled to cash dividends per share equal to 110% of all dividends declared and paid on each share of Class B Common Stock. As such, the undistributed earnings (losses) for each period are allocated based on the proportionate share of entitled cash dividends. The following table illustrates the computation of Common Stock basic and diluted net earnings (loss) per share, provides a reconciliation of the number of weighted-average basic and diluted shares outstanding, when applicable, and provides the weighted-average number of anti-dilutive shares excluded from the computation of diluted weighted-average shares outstanding: 13 Weeks Ended 26 Weeks Ended June 27, 2024 June 29, 2023 June 27, 2024 June 29, 2023 Net earnings (loss) per share - basic: Common Stock $ (0.64) $ 0.43 $ (1.03) $ 0.13 Class B Common Stock $ (0.58) $ 0.39 $ (0.92) $ 0.12 Net earnings (loss) per share - diluted: Common Stock $ (0.64) $ 0.35 $ (1.03) $ 0.13 Class B Common Stock $ (0.58) $ 0.34 $ (0.92) $ 0.12 Numerator: Net earnings (loss) $ (20,221) $ 13,466 $ (32,087) $ 4,000 Denominator (in thousands): Denominator for basic EPS 32,161 31,673 32,027 31,622 Effect of dilutive employee stock options — 61 — 52 Effect of convertible senior notes — 9,201 — — Diluted weighted-average shares outstanding 32,161 40,935 32,027 31,674 Weighted-average number of anti-dilutive shares excluded from denominator (in thousands): Employee stock options 3,146 2,506 2,934 3,014 Restricted stock units 50 — 50 — Performance stock units 143 — 143 — Convertible senior notes 6,719 — 8,009 9,201 Total 10,058 2,506 11,136 12,215 For the periods when the Company reports a net loss, common stock equivalents, restricted stock units, performance stock units, and shares related to the convertible senior notes are excluded from the computation of diluted loss per share as their inclusion would have an anti-dilutive effect. Performance stock units are considered anti-dilutive if the performance targets upon which the issuance of the shares are contingent have not been achieved and the respective performance period has not been completed as of the end of the current period. Shares related to the convertible senior notes are excluded from the computation of diluted earnings per share in periods when the effect would have been anti-dilutive using the if-converted method. Shareholders’ Equity - Activity impacting total shareholders’ equity attributable to The Marcus Corporation and noncontrolling interest for the 26 weeks ended June 27, 2024 and June 29, 2023 was as follows: Common Class B Capital Retained Accumulated Treasury Total Shareholders’ BALANCES AT DECEMBER 28, 2023 $ 24,692 $ 7,078 $ 160,642 $ 281,599 $ (1,336) $ (1,503) $ 471,172 Cash dividends: $0.064 per share Class B Common Stock — — — (449) — — (449) $0.07 per share Common Stock — — — (1,760) — — (1,760) Purchase of treasury stock — — — — — (301) (301) Reissuance of treasury stock — — (3) — — 23 20 Issuance of non-vested stock 452 — (515) — — 63 — Shared-based compensation — — 2,514 — — — 2,514 Conversions of Class B Common Stock 93 (93) — — — — — Comprehensive loss — — — (11,866) (12) — (11,878) BALANCES AT MARCH 28, 2024 25,237 6,985 162,638 267,524 (1,348) (1,718) 459,318 Cash dividends: $0.064 per share Class B Common Stock — — — (447) — — (447) $0.07 per share Common Stock — — — (1,763) — — (1,763) Reissuance of treasury stock — — (7) — — 23 16 Issuance of non-vested stock — — (326) — — 326 — Shared-based compensation — — 2,418 — — — 2,418 Convertible senior note repurchase — — (2,788) — — — (2,788) Capped call unwind — — 12,904 — — — 12,904 Comprehensive loss — — — (20,221) (11) — (20,232) BALANCES AT JUNE 27, 2024 $ 25,237 $ 6,985 $ 174,839 $ 245,093 $ (1,359) $ (1,369) $ 449,426 Common Class B Capital Retained Accumulated Treasury Shareholders’ Non- Total BALANCES AT DECEMBER 29, 2022 $ 24,498 $ 7,111 $ 153,794 $ 274,254 $ (1,694) $ (1,866) $ 456,097 $ 824 $ 456,921 Cash dividends: $0.045 per share Class B Common Stock — — — (319) — — (319) — (319) $0.05 per share Common Stock — — — (1,229) — — (1,229) — (1,229) Exercise of stock options — — (1) — — 3 2 — 2 Purchase of treasury stock — — — — — (313) (313) — (313) Savings and profit-sharing contribution 79 — 1,180 — — — 1,259 — 1,259 Reissuance of treasury stock — — (3) — — 24 21 — 21 Issuance of non-vested stock 82 — (143) — — 61 — — — Shared-based compensation — — 2,172 — — — 2,172 — 2,172 Other — — 1 (1) — — — — — Conversions of Class B Common Stock 33 (33) — — — — — — — Distribution to noncontrolling interest — — — — — — — (550) (550) Comprehensive loss — — — (9,466) (91) — (9,557) — (9,557) BALANCES AT MARCH 30, 2023 24,692 7,078 157,000 263,239 (1,785) (2,091) 448,133 274 448,407 Cash dividends: $0.045 per share Class B Common Stock — — — (319) — — (319) — (319) $0.05 per share Common Stock — — — (1,230) — — (1,230) — (1,230) Exercise of stock options — — (25) — — 121 96 — 96 Purchase of treasury stock — — — — — (226) (226) — (226) Reissuance of treasury stock — — (204) — — 223 19 — 19 Issuance of non-vested stock — — (55) — — 55 — — — Shared-based compensation — — 1,515 — — — 1,515 — 1,515 Other — — — 1 — (1) — — — Distribution to noncontrolling interest — — — — — — — (274) (274) Comprehensive income (loss) — — — 13,466 (12) — 13,454 — 13,454 BALANCES AT JUNE 29, 2023 $ 24,692 $ 7,078 $ 158,231 $ 275,157 $ (1,797) $ (1,919) $ 461,442 $ — $ 461,442 Accumulated Other Comprehensive Loss – Accumulated other comprehensive loss presented in the accompanying consolidated balance sheets consists of the following, all presented net of tax: June 27, December 28, Net unrecognized actuarial loss for pension obligation $ (1,359) $ (1,336) $ (1,359) $ (1,336) Fair Value Measurements - Certain financial assets and liabilities are recorded at fair value in the consolidated financial statements. Some are measured on a recurring basis while others are measured on a non-recurring basis. Financial assets and liabilities measured on a recurring basis are those that are adjusted to fair value each time a financial statement is prepared. Financial assets and liabilities measured on a non-recurring basis are those that are adjusted to fair value when a significant event occurs. A fair value measurement assumes that a transaction to sell an asset or transfer a liability occurs in the principal market for the asset or liability or, in the absence of a principal market, the most advantageous market for the asset or liability. The Company’s assets and liabilities measured at fair value are classified in one of the following categories: Level 1 - Assets or liabilities for which fair value is based on quoted prices in active markets for identical instruments as of the reporting date. At June 27, 2024 and December 28, 2023, the Company’s $6,835 and $5,364 respectively, of debt and equity securities classified as trading were valued using Level 1 pricing inputs and were included in other current assets. At June 27, 2024 and December 28, 2023, the Company’s $18,000 and $37,018, respectively, of investments in money market funds were valued using Level 1 pricing inputs and were included in cash and cash equivalents. Level 2 - Assets or liabilities for which fair value is based on pricing inputs that were either directly or indirectly observable as of the reporting date. At each of June 27, 2024 and December 28, 2023, none of the Company’s recorded assets or liabilities were measured using Level 2 pricing inputs. Level 3 - Assets or liabilities for which fair value is based on valuation models with significant unobservable pricing inputs and which result in the use of management estimates. At each of June 27, 2024 and December 28, 2023, none of the Company’s recorded assets or liabilities that are measured on a recurring basis at fair market value were valued using Level 3 pricing inputs. Assets that are measured on a non-recurring basis are discussed above under Long-Lived Assets . The carrying value of the Company’s financial instruments (including cash and cash equivalents, restricted cash, accounts receivable and accounts payable) approximates fair value. The fair value of the Company’s $70,000 of senior notes, valued using Level 2 pricing inputs, is approximately $66,573 at June 27, 2024, determined based upon discounted cash flows using current market interest rates for financial instruments with a similar average remaining life. The fair value of the Company's $60,050 of convertible senior notes, valued using Level 2 pricing inputs, is approximately $70,212 at June 27, 2024, determined based on market rates and the closing trading price of the convertible senior notes as of June 27, 2024. The carrying amounts of the Company’s remaining long-term debt approximate their fair values, determined using current rates for similar instruments, or Level 2 pricing inputs. 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 26 Weeks Ended June 27, 2024 June 29, 2023 June 27, 2024 June 29, 2023 Service cost $ 62 $ 122 $ 124 $ 244 Interest cost 445 452 889 905 Net amortization of prior service cost and actuarial loss (16) (16) (32) (32) Net periodic pension cost $ 491 $ 558 $ 981 $ 1,117 Service cost is included in Administrative expense while all other components are recorded within Other expense outside of operating income in the consolidated statements of earnings. Revenue Recognition – The disaggregation of revenues by business segment for the 13 and 26 weeks ended June 27, 2024 is as follows: 13 Weeks Ended June 27, 2024 Theatres Hotels/Resorts Corporate Total Theatre admissions $ 48,580 $ — $ — $ 48,580 Rooms — 30,496 — 30,496 Theatre concessions 44,417 — — 44,417 Food and beverage — 19,272 — 19,272 Other revenues (1) 8,455 13,996 83 22,534 Cost reimbursements — 10,733 — 10,733 Total revenues $ 101,452 $ 74,497 $ 83 $ 176,032 26 Weeks Ended June 27, 2024 Theatres Hotels/Resorts Corporate Total Theatre admissions $ 89,176 $ — $ — $ 89,176 Rooms — 48,709 — 48,709 Theatre concessions 79,112 — — 79,112 Food and beverage — 35,435 — 35,435 Other revenues (1) 14,434 27,639 163 42,236 Cost reimbursements — 19,911 — 19,911 Total revenues $ 182,722 $ 131,694 $ 163 $ 314,579 (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 June 29, 2023 is as follows: 13 Weeks Ended June 29, 2023 Theatres Hotels/Resorts Corporate Total Theatre admissions $ 68,987 $ — $ — $ 68,987 Rooms — 28,646 — 28,646 Theatre concessions 59,707 — — 59,707 Food and beverage — 18,573 — 18,573 Other revenues (1) 8,156 13,181 91 21,428 Cost reimbursements — 9,666 — 9,666 Total revenues $ 136,850 $ 70,066 $ 91 $ 207,007 26 Weeks Ended June 29, 2023 Theatres Hotels/Resorts Corporate Total Theatre admissions $ 116,622 $ — $ — $ 116,622 Rooms — 46,503 — 46,503 Theatre concessions 102,082 — — 102,082 Food and beverage — 33,766 — 33,766 Other revenues (1) 14,522 26,414 180 41,116 Cost reimbursements — 19,194 — 19,194 Total revenues $ 233,226 $ 125,877 $ 180 $ 359,283 (1) Included in other revenues is an immaterial amount related to rental income that is not considered revenue from contracts with customers. The Company had deferred revenue from contracts with customers of $39,705 and $38,034 as of June 27, 2024 and December 28, 2023, respectively. The Company had no contract assets as of June 27, 2024 and December 28, 2023. During the 26 weeks ended June 27, 2024, the Company recognized revenue of $12,789 that was included in deferred revenues as of December 28, 2023. During the 26 weeks ended June 29, 2023, the Company recognized revenue of $10,875 that was included in deferred revenues as of December 29, 2022. The majority of the Company’s deferred revenue relates to non-redeemed gift cards, advanced ticket sales and the Company’s loyalty program. As of June 27, 2024, the amount of transaction price allocated to the remaining performance obligations under the Company’s advanced ticket sales was $1,989 and is reflected in the Company’s consolidated balance sheet as part of deferred revenues, which is included in other accrued liabilities. As of June 27, 2024, the amount of transaction price allocated to the remaining performance obligations related to the amount of Theatres non-redeemed gift cards was $15,178 and is reflected in the Company’s consolidated balance sheet as part of deferred revenues. The Company recognizes revenue as the tickets and gift cards are redeemed, which is expected to occur within the next two years. As of June 27, 2024, the amount of transaction price allocated to the remaining performance obligations related to the amount of Hotels and Resorts non-redeemed gift cards was $4,254 and is reflected in the Company’s consolidated balance sheet as part of deferred revenues. The Company recognizes revenue as the gift cards are redeemed, which is expected to occur within the next two years. The majority of the Company’s revenue is recognized in less than one year from the original contract. New Accounting Pronouncements - In November 2023, the Financial Accounting Standards Board (FASB) issued ASU No. 2023-07, Segment Reporting (Topic 280: Improvements to Reportable Segment Disclosures (ASU No. 2023-07) , which requires disclosure of incremental segment information on an annual and interim basis. ASU No 2023-07 will be effective for the Company’s fiscal year ending December 26, 2024, and the Company’s interim periods beginning in fiscal 2025. The Company is evaluating the effect that the guidance will have on its consolidated financial statement disclosures. In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740: Improvements to Income Tax Disclosures (ASU No. 2023-09 ), which requires improvements to income tax disclosures primarily related to rate reconciliation and income taxes paid information. ASU No. 2023-09 will be effective for the Company in fiscal 2025 and must be applied prospectively with retrospective application permitted. The Company is evaluating the impact that ASU No. 2023-09 will have on its consolidated financial statement disclosures.

Long-Term Debt

Long-Term Debt	6 Months Ended
Long-Term Debt	Jun. 27, 2024
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt Long-term debt is summarized as follows: June 27, 2024 December 28, 2023 Senior notes $ 70,000 $ 70,000 Unsecured term note due February 2025, with monthly principal and interest payments of $39, bearing interest at 5.75% 306 528 Convertible senior notes 60,050 100,050 Payroll Protection Program loans 774 1,233 Revolving credit agreement 45,000 — Debt issuance costs (453) (1,960) Total debt, net of debt issuance costs 175,677 169,851 Less current maturities, net of issuance costs 10,815 10,303 Long-term debt $ 164,862 $ 159,548 Credit Agreement As of June 27, 2024, the Company has a five year Credit Agreement that provides for a revolving credit facility that matures on October 16, 2028 with an initial maximum aggregate amount of availability of $225,000. At June 27, 2024, there were borrowings of $45,000 outstanding on the revolving credit facility, which when borrowed, bear interest at the secured overnight financing rate (SOFR) plus a margin (as discussed further below), effectively 6.98% at June 27, 2024. Availability under the $225,000 revolving credit facility was $175,185 as of June 27, 2024 after taking into consideration outstanding letters of credit that reduce revolver availability. Borrowings under the Credit Agreement bear interest at a variable rate equal to (i) the term SOFR, plus a credit spread adjustment of 0.10%, subject to a 0% floor, plus a specified margin based upon the Company’s net leverage ratio as of the most recent determination date, or (ii) the alternate base rate (“ABR”) (which is the highest of (a) the prime rate, (b) the greater of the federal funds rate and the overnight bank funding rate plus 0.50% or (c) the sum of 1% plus one-month SOFR plus a credit spread adjustment of 0.10%), subject to a 1% floor, plus a specified margin based upon the Company’s net leverage ratio as of the most recent determination date. The revolving credit facility also requires an annual facility fee equal to 0.175% to 0.275% of the total revolving commitments depending on the Company’s consolidated net leverage ratio. The Credit Agreement includes, among other restrictions and covenants applicable to the Company, a requirement that the Company’s consolidated net leverage ratio not exceed 3.50:1.00, provided that, with some limitations, such ratio may be increased to 4.00:1:00 for the full fiscal quarter in which a material acquisition (in which aggregate consideration equals or exceeds $30,000) is consummated and the three fiscal quarters immediately thereafter, and a requirement that the Company’s interest coverage ratio at the end of any fiscal quarter not be less than 3.00:1.00. In connection with the Credit Agreement: (i) the Company has pledged, subject to certain exceptions, security interests and liens in and on (a) substantially all of its respective personal property assets and (b) certain of its respective real property assets, in each case, to secure the Credit Agreement and related obligations; and (ii) certain of the Company’s subsidiaries have guaranteed the Company’s obligations under the Credit Agreement. The Credit Agreement contains customary events of default. If an event of default under the Credit Agreement occurs and is continuing, then, among other things, the lenders may declare any outstanding obligations under the Credit Agreement to be immediately due and payable and exercise rights and remedies against the pledged collateral. Note Purchase Agreements At June 27, 2024 and December 28, 2023, the Company’s $70,000 of senior notes consist of two Note Purchase Agreements maturing in 2025 through 2027, require annual principal payments in varying installments and bear interest payable semi-annually at fixed rates ranging from 4.02% to 4.32%. Convertible Senior Notes On September 17, 2020, the Company entered into a purchase agreement to issue and sell $100,050 aggregate principal amount of its 5.00% Convertible Senior Notes due 2025 (the “Convertible Notes.”) The Convertible Notes were issued pursuant to an indenture (the “Indenture”), dated September 22, 2020, between the Company and U.S. Bank National Association, as trustee. The Convertible Notes bear interest from September 22, 2020 at a rate of 5.00% per year. Interest will be payable semiannually in arrears on March 15 and September 15 of each year, beginning on March 15, 2021. The Convertible Notes may bear additional interest under specified circumstances relating to the Company’s failure to comply with its reporting obligations under the Indenture or if the Convertible Notes are not freely tradeable as required by the Indenture. The Convertible Notes will mature on September 15, 2025, unless earlier repurchased or converted. Prior to March 15, 2025, the Convertible Notes will be convertible at the option of the holders only under the following circumstances: (i) during any fiscal quarter commencing after the fiscal quarter ending on December 31, 2020 (and only during such fiscal quarter), if the last reported sale price of the Common Stock for at least 20 trading days (whether or not consecutive) during a period of 30 consecutive trading days ending on, and including, the last trading day of the immediately preceding fiscal quarter is greater than or equal to 130% of the conversion price on each applicable trading day; (ii) during the five five Upon conversion, the Convertible Notes may be settled, at the Company’s election, in cash, shares of Common Stock or a combination thereof. The initial conversion rate was 90.8038 shares of Common Stock per $1,000 principal amount of the Convertible Notes (equivalent to an initial conversion price of approximately $11.01 per share of Common Stock), representing an initial conversion premium of approximately 22.5% to the $8.99 last reported sale price of the Common Stock on The New York Stock Exchange on September 17, 2020. The conversion rate is subject to adjustment for certain events, including distributions and dividends paid to holders of Common Stock. At June 27, 2024, the applicable conversion rate is 93.8880 shares of Common Stock per $1,000 principal amount of the Convertible Notes (equivalent to an applicable conversion price of approximately $10.65 per share of Common Stock). If the Company undergoes certain fundamental changes, holders of Convertible Notes may require the Company to repurchase for cash all or part of their Convertible Notes for a purchase price equal to 100% of the principal amount of the Convertible Notes to be repurchased, plus accrued and unpaid interest to, but excluding, the fundamental change repurchase date. In addition, if a make-whole fundamental change occurs prior to the maturity date, the Company will, under certain circumstances, increase the conversion rate for holders who convert Convertible Notes in connection with such make-whole fundamental change. The Company may not redeem the Convertible Notes before maturity and no “sinking fund” is provided for the Convertible Notes. The Indenture includes covenants customary for securities similar to the Convertible Notes, sets forth certain events of default after which the Convertible Notes may be declared immediately due and payable and sets forth certain types of bankruptcy or insolvency events of default involving the Company and certain of its subsidiaries after which the Convertible Notes become automatically due and payable. Since the Company’s fiscal 2021 second quarter through the Company’s fiscal 2024 second quarter, the Company’s Convertible Notes were eligible for conversion at the option of the holders as the last reported sale price of the Common Stock was greater than or equal to 130% of the applicable conversion price for at least 20 trading days during the last 30 consecutive trading days ending on the last trading day of the preceding fiscal quarter. During the Company’s fiscal 2024 third quarter the Convertible Notes are not eligible for conversion at the option of the holders as the last reported sale price of the Common Stock was not greater than or equal to 130% of the applicable conversion price for at least 20 trading days during the last 30 consecutive trading days ending on the last trading day of the preceding fiscal quarter. The Company has the ability to settle the conversion in Company stock. As such, the Convertible Notes will continue to be classified as long-term. Future convertibility and resulting balance sheet classification of this liability will be monitored at each quarterly reporting date and will be analyzed dependent upon market prices of the Company’s Common Stock during the prescribed measurement period. In connection with the pricing of the Convertible Notes on September 17, 2020, and in connection with the exercise by the Initial Purchasers (as defined in the Convertible Notes purchase agreement) of their option to purchase additional Convertible Notes on September 18, 2020, the Company entered into privately negotiated Capped Call Transactions (the “Capped Call Transactions”) with certain of the Initial Purchasers and/or their respective affiliates and/or other financial institutions (the “Capped Call Counterparties”). The Capped Call Transactions are expected generally to reduce potential dilution of the Company’s common stock upon any conversion of the Convertible Notes and/or offset any cash payments the Company is required to make in excess of the principal amount of such converted Convertible Notes, as the case may be, in the event that the market price per share of the Company’s common stock, as measured under the terms of the Capped Call Transactions, is greater than the strike price of the Capped Call Transactions, which initially corresponds to the conversion price of the Convertible Notes and is subject to anti-dilution adjustments substantially similar to those applicable to the conversion rate of the Convertible Notes. If, however, the market price per share of the Company’s common stock, as measured under the terms of the Capped Call Transactions, exceeds the cap price of the Capped Call Transactions, there would nevertheless be dilution to the extent that such market price exceeds the cap price of the Capped Call Transactions. The cap price of the Capped Call Transactions was initially $17.98 per share (in no event shall the cap price be less than the strike price of $11.0128), which represents a premium of 100% over the last reported sale price of the Common Stock of $8.99 per share on The New York Stock Exchange on September 17, 2020. Under the terms of the Capped Call Transactions, the cap price is subject to adjustment for certain events, including distributions and dividends paid to holders of Common Stock. At June 27, 2024, the adjusted cap price is approximately $17.39 per share. The Capped Call Transactions are separate transactions entered into by the Company with the Capped Call Counterparties, are not part of the terms of the Convertible Notes and will not change the rights of holders of the Convertible Notes under the Convertible Notes and the Indenture. Convertible Senior Notes Repurchases During the second quarter of fiscal 2024, the Company entered into separate, privately negotiated purchase agreements (the “Purchase Agreements”) with certain holders of its Convertible Notes. Under the terms of the Purchase Agreements, the holders agreed to exchange $86,401 in aggregate principal amount of Convertible Notes for cash consideration of $101,087 (or $87,857 net of the cash received by the Company in connection with the unwind of a portion of the Capped Call Transactions as discussed below) effected over two separate repurchase tranches (the “Convertible Notes Repurchases”). On May 8, 2024, the Company entered into the first repurchase transaction to retire $40,000 of aggregate principal amount of Convertible Notes for $45,879 in cash consideration plus accrued interest, with settlement occurring during the fiscal second quarter on June 14, 2024. On June 17, 2024, the Company entered into the second repurchase transaction to retire $46,401 of aggregate principal amount of Convertible Notes for $55,208 in cash consideration plus accrued interest, with settlement occurring during the fiscal third quarter on July 16, 2024. Following settlement of the Convertible Note Repurchases on July 16, 2024, the aggregate principal amount of Convertible Notes outstanding was $13,649 . During the second quarter and first half of fiscal 2024, the Company incurred debt conversion expense of $13,908 in connection with the Convertible Notes Repurchases. In connection with the Convertible Notes Repurchases, the Company entered into unwind agreements with the Capped Call Counterparties to terminate a portion of the Capped Call Transactions equal to the notional amounts of the Convertible Notes Repurchases, and for the Company to receive aggregate cash of $13,230 effected over two separate unwind tranches. On May 8, 2024, the Company entered into the first tranche of unwind agreements and received $5,770 in cash consideration with settlement occurring during the fiscal second quarter on June 14, 2024. On June 17, 2024, the Company entered into the second tranche of unwind agreements and received $7,460 in cash consideration at settlement occurring during the fiscal third quarter on July 16, 2024.

Leases

Leases	6 Months Ended
Leases	Jun. 27, 2024
Leases [Abstract]
Leases	Leases The Company determines if an arrangement is a lease at inception. The Company evaluates each lease for classification as either a finance lease or an operating lease according to Accounting Standards Codification No. 842, Leases . The Company performs this evaluation at the inception of the lease and when a modification is made to a lease. The Company leases real estate and equipment with lease terms of one year to 45 years, some of which include options to extend and/or terminate the lease. The majority of the Company’s lease agreements include fixed rental payments. For those leases with variable payments based on increases in an index subsequent to lease commencement, such payments are recognized as variable lease expense as they occur. Variable lease payments that do not depend on an index or rate, including those that depend on the Company’s performance or use of the underlying asset, are also expensed as incurred. Lease expense for operating lease payments is recognized on a straight-line basis over the lease term. Total lease cost consists of the following: 13 Weeks Ended 26 Weeks Ended Lease Cost Classification June 27, 2024 June 29, 2023 June 27, 2024 June 29, 2023 Finance lease costs: Amortization of finance lease assets Depreciation and amortization $ 554 $ 688 $ 1,169 $ 1,379 Interest on lease liabilities Interest expense 160 192 335 390 $ 714 $ 880 $ 1,504 $ 1,769 Operating lease costs: Operating lease costs Rent expense $ 6,133 $ 6,033 $ 12,118 $ 12,077 Variable lease cost Rent expense 290 527 602 943 Short-term lease cost Rent expense 73 34 123 67 $ 6,496 $ 6,594 $ 12,843 $ 13,087 Additional information related to leases is as follows: 13 Weeks Ended 26 Weeks Ended Other Information June 27, 2024 June 29, 2023 June 27, 2024 June 29, 2023 Cash paid for amounts included in the measurement of lease liabilities: Financing cash flows from finance leases $ 613 $ 645 $ 1,214 $ 1,201 Operating cash flows from finance leases 160 192 335 390 Operating cash flows from operating leases 6,527 6,429 12,809 12,859 Right of use assets obtained in exchange for new lease obligations: Finance lease liabilities 115 136 115 136 Operating lease liabilities 2,112 — 2,112 — June 27, 2024 December 28, 2023 Finance leases: Property and equipment – gross $ 30,037 $ 30,106 Accumulated depreciation and amortization (19,065) (17,956) Property and equipment - net $ 10,972 $ 12,150 Remaining lease terms and discount rates are as follows: Lease Term and Discount Rate June 27, 2024 December 28, 2023 Weighted-average remaining lease terms: Finance leases 6 years 7 years Operating leases 11 years 12 years Weighted-average discount rates: Finance leases 4.67 % 4.62 % Operating leases 4.73 % 4.52 % Deferred rent payments of approximately $619 for the Company’s operating leases have been included in the total operating lease obligations as of June 27, 2024, of which approximately $169 is included in long-term operating lease obligations.
Leases	Leases The Company determines if an arrangement is a lease at inception. The Company evaluates each lease for classification as either a finance lease or an operating lease according to Accounting Standards Codification No. 842, Leases . The Company performs this evaluation at the inception of the lease and when a modification is made to a lease. The Company leases real estate and equipment with lease terms of one year to 45 years, some of which include options to extend and/or terminate the lease. The majority of the Company’s lease agreements include fixed rental payments. For those leases with variable payments based on increases in an index subsequent to lease commencement, such payments are recognized as variable lease expense as they occur. Variable lease payments that do not depend on an index or rate, including those that depend on the Company’s performance or use of the underlying asset, are also expensed as incurred. Lease expense for operating lease payments is recognized on a straight-line basis over the lease term. Total lease cost consists of the following: 13 Weeks Ended 26 Weeks Ended Lease Cost Classification June 27, 2024 June 29, 2023 June 27, 2024 June 29, 2023 Finance lease costs: Amortization of finance lease assets Depreciation and amortization $ 554 $ 688 $ 1,169 $ 1,379 Interest on lease liabilities Interest expense 160 192 335 390 $ 714 $ 880 $ 1,504 $ 1,769 Operating lease costs: Operating lease costs Rent expense $ 6,133 $ 6,033 $ 12,118 $ 12,077 Variable lease cost Rent expense 290 527 602 943 Short-term lease cost Rent expense 73 34 123 67 $ 6,496 $ 6,594 $ 12,843 $ 13,087 Additional information related to leases is as follows: 13 Weeks Ended 26 Weeks Ended Other Information June 27, 2024 June 29, 2023 June 27, 2024 June 29, 2023 Cash paid for amounts included in the measurement of lease liabilities: Financing cash flows from finance leases $ 613 $ 645 $ 1,214 $ 1,201 Operating cash flows from finance leases 160 192 335 390 Operating cash flows from operating leases 6,527 6,429 12,809 12,859 Right of use assets obtained in exchange for new lease obligations: Finance lease liabilities 115 136 115 136 Operating lease liabilities 2,112 — 2,112 — June 27, 2024 December 28, 2023 Finance leases: Property and equipment – gross $ 30,037 $ 30,106 Accumulated depreciation and amortization (19,065) (17,956) Property and equipment - net $ 10,972 $ 12,150 Remaining lease terms and discount rates are as follows: Lease Term and Discount Rate June 27, 2024 December 28, 2023 Weighted-average remaining lease terms: Finance leases 6 years 7 years Operating leases 11 years 12 years Weighted-average discount rates: Finance leases 4.67 % 4.62 % Operating leases 4.73 % 4.52 % Deferred rent payments of approximately $619 for the Company’s operating leases have been included in the total operating lease obligations as of June 27, 2024, of which approximately $169 is included in long-term operating lease obligations.

Share Based Compensation

Share Based Compensation	6 Months Ended
Share Based Compensation	Jun. 27, 2024
Share-Based Payment Arrangement [Abstract]
Share Based Compensation	Share Based Compensation During the 26 weeks ended June 27, 2024, the Company granted restricted stock, restricted stock units (RSUs) and performance stock units (PSUs) to certain executives and associates. Restricted Stock and Restricted Stock Units During the 26 weeks ended June 27, 2024, the Company granted (i) an annual award of restricted stock and RSUs with a vesting period of 50% after two years and 100% after three years, and (ii) a special long-term incentive and retention award of restricted stock to certain executives with a vesting period of 100% after four years, or upon retirement after three years. Restricted stock awards are issued and outstanding common stock at the time of the grant and become unrestricted upon the vesting date. RSU awards are payable in common stock upon vesting. The Company expenses the cost of restricted stock and RSU awards over the vesting period based on the fair value of the award at the date of grant. Performance Stock Units During the 26 weeks ended June 27, 2024, the Company granted PSUs with vesting subject to the Company’s achievement of performance goals expressed in terms of (i) earnings before interest, taxes, depreciation and amortization, or EBITDA, growth rate ranking relative to the Russell 2000 Index with respect to 25% of the total number of performance stock unit awards, and (ii) the Company’s average return on invested capital, or ROIC, ranking relative to the Russell 2000 Index with respect to 75% of the total number of performance stock unit awards. For grants awarded in fiscal 2024, the PSU performance goals relate to the three-year performance period from fiscal 2024-2026. PSUs are payable at the end of their respective performance period in common stock, and the number of PSUs awarded can range from zero to 150% depending on the Company’s achievement of the relative performance metrics. The Company expenses the cost of PSUs based on the fair value of the awards at the date of grant and the estimated achievement of the performance metric, ratable over the performance period of three fiscal years. A summary of the Company’s stock option, restricted stock and RSU and PSU activity and related information follows, with PSUs reflected at the target achievement percentage until the completion of the performance period (shares in thousands): Stock Options Restricted Stock & RSUs PSUs Options Weighted-Average Exercise Price Shares / Units Weighted-Average Fair Value Units Weighted-Average Fair Value December 28, 2023 3,173 $ 22.69 238 $ 17.41 — $ — Granted — — 503 14.83 143 14.84 Exercised (1) — — — — — — Vested (2) — — (47) 21.37 — — Forfeited (30) 21.16 (2) 14.84 (2) 14.84 June 27, 2024 3,143 $ 22.70 692 $ 15.28 141 $ 14.84 (1) Exercise activity only applicable to stock options. (2) Vesting activity not applicable to stock options. Share-based compensation expense was $2,418 and $4,932, respectively, during the 13 and 26 weeks ended June 27, 2024, and $1,515 and $3,687, respectively, during the 13 and 26 weeks ended June 29, 2023. As of June 27, 2024, total unrecognized share-based compensation expense related to stock options was $2,647, which will be amortized to expense over the weighted-average remaining life of 2.1 years. As of June 27, 2024, total unrecognized share-based compensation expense related to non-vested restricted stock, RSUs and PSUs was $8,194, which will be amortized over the weighted-average remaining service period of 3.1 years. At June 27, 2024, there were 446,074 shares available for grants of additional stock options, restricted stock, RSUs, PSUs and other types of equity awards under the current plan.

Income Taxes

Income Taxes	6 Months Ended
Income Taxes	Jun. 27, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income TaxesThe Company’s effective income tax rate for the 13 and 26 weeks ended June 27, 2024 was (39.4)% and 4.9%, respectively, and 23.3% and 24.0% for the 13 and 26 weeks ended June 29, 2023, respectively. The fiscal 2024 first half effective income tax rate was negatively impacted by a nondeductible debt conversion expense resulting from the Convertible Notes Repurchases and a $1,085 reduction in deferred tax assets resulting from the related termination of the Capped Call Transactions and excess compensation subject to deduction limitations.

Joint Venture Transactions

Joint Venture Transactions	6 Months Ended
Joint Venture Transactions	Jun. 27, 2024
Equity Method Investments and Joint Ventures [Abstract]
Joint Venture Transactions	Joint Venture Transactions In March 2024, the Company formed a joint venture with Hempel Real Estate (“Hempel”) and Robinson Park (“RP”) to acquire the Loews Minneapolis Hotel, a 251 guest room and suite full-service lifestyle hotel located in downtown Minneapolis, Minnesota. The acquired hotel was rebranded as The Lofton Hotel (“Lofton”) under the Tapestry Collection by Hilton flag. The Company invested $5,620 for a 33.3% equity interest in the Lofton joint venture and entered into a management agreement for the hotel. Subsequent to its initial investment in the joint venture, the Company sold an 8.6% interest to a minority investor for $1,500, reducing its equity interest in the Lofton joint venture to 24.7%. The Company accounts for its investment in the Lofton joint venture on the equity method. A wholly-owned subsidiary of the Lofton joint venture entity, as the borrower, financed the acquisition of and future improvements to the hotel with a mortgage loan. In connection with this mortgage loan, the Company provided an environmental indemnity and a several payment guaranty that provides that the lender can recover losses from the Company, a principal in Hempel, and a principal in RP for certain events of default of the borrower up to $6,200 for the Company. Under the terms of a cross-indemnity agreement among the guarantors, the other two guarantors have fully indemnified the Company under the guarantees for any losses in excess of its proportionate liability under the several payment guaranty and environmental indemnity.

Business Segment Information

Business Segment Information	6 Months Ended
Business Segment Information	Jun. 27, 2024
Segment Reporting [Abstract]
Business Segment Information	Business Segment Information The Company’s primary operations are reported in the following business segments: Theatres and Hotels/Resorts. Corporate items include amounts not allocable to the business segments. Corporate revenues consist principally of rent and the corporate operating loss includes general corporate expenses. Corporate information technology costs and accounting shared services costs are allocated to the business segments based upon several factors, including actual usage and segment revenues. Following is a summary of business segment information for the 13 and 26 weeks ended June 27, 2024 and June 29, 2023: 13 Weeks Ended Theatres Hotels/ Corporate Total June 27, 2024 Revenues $ 101,452 $ 74,497 $ 83 $ 176,032 Operating income (loss) 2,781 6,117 (6,661) 2,237 Depreciation and amortization 11,520 5,048 131 16,699 13 Weeks Ended Theatres Hotels/ Corporate Total June 29, 2023 Revenues $ 136,850 $ 70,066 $ 91 $ 207,007 Operating income (loss) 19,811 6,105 (5,106) 20,810 Depreciation and amortization 11,317 4,588 89 15,994 26 Weeks Ended Theatres Hotels/ Corporate Total June 27, 2024 Revenues $ 182,722 $ 131,694 $ 163 $ 314,579 Operating income (loss) (2,958) 955 (12,425) (14,428) Depreciation and amortization 22,553 9,912 249 32,714 26 Weeks Ended Theatres Hotels/ Corporate Total June 29, 2023 Revenues $ 233,226 $ 125,877 $ 180 $ 359,283 Operating income (loss) 21,330 1,073 (10,581) 11,822 Depreciation and amortization 22,805 8,889 176 31,870

Subsequent Events

Subsequent Events	6 Months Ended
Subsequent Events	Jun. 27, 2024
Subsequent Events [Abstract]
Subsequent Events	Subsequent Event Subsequent to the end of the second quarter of fiscal 2024, on July 9, 2024, the Company entered into a Master Note Purchase Agreement with several purchasers party to the agreement, pursuant to which the Company issued and sold $100,000 aggregate principal amount of senior notes in two tranches: (i) $60,000 in aggregate principal amount of the Company’s 6.89% Series 2024 Senior Notes, Tranche A due July 9, 2031 (the “Tranche A Notes”) and (ii) $40,000 in aggregate principal amount of the Company’s 7.02% Series 2024 Senior Notes, Tranche B due July 9, 2034 (the “Tranche B Notes” and, collectively with the Tranche A Notes, the “2024 Senior Notes”). The net proceeds were used to refinance the Convertible Notes Repurchases of $86,401 aggregate principal amount of Convertible Notes (see Note 2) and for general corporate purposes. Interest on the 2024 Senior Notes is payable semi-annually in arrears on the 9th day of January and July each year, commencing on January 9, 2025, and on the applicable maturity date. The Tranche A Notes require annual principal amortization payments beginning in fiscal 2027 with a final maturity in fiscal 2031. The Tranche B Notes require annual principal amortization payments beginning in fiscal 2028 with a final maturity in fiscal 2034. The Master Note Purchase Agreement contains various restrictions and covenants applicable to the Company and certain of its subsidiaries that are consistent with the restrictions, covenants and collateral provisions in the Company’s existing Credit Agreement and Note Purchase Agreements.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Jun. 27, 2024	Jun. 29, 2023	Jun. 27, 2024	Jun. 29, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ (20,221)	$ 13,466	$ (32,087)	$ 4,000

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Jun. 27, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

General (Policies)

General (Policies)	6 Months Ended
General (Policies)	Jun. 27, 2024
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation - The unaudited consolidated financial statements for the 13 and 26 weeks ended June 27, 2024 and June 29, 2023 have been prepared by the Company. In the opinion of management, all adjustments, consisting of normal recurring adjustments necessary to present fairly the unaudited interim financial information at June 27, 2024, and for all periods presented, have been made. The results of operations during the interim periods are not necessarily indicative of the results of operations for the entire year or other interim periods. However, the unaudited consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 28, 2023.
Depreciation and Amortization	Depreciation and Amortization - Depreciation and amortization of property and equipment are provided using the straight-line method over the shorter of the estimated useful lives of the assets or any related lease terms. Depreciation expense totaled $16,701 and $32,715 for the 13 and 26 weeks ended June 27, 2024, respectively, and $15,986 and $31,854 for the 13 and 26 weeks ended June 29, 2023, respectively.
Assets Held for Sale	Assets Held for Sale
Long-Lived Assets	Long-Lived Assets – The Company periodically considers whether indicators of impairment of long-lived assets held for use are present. This includes quantitative and qualitative factors, including evaluating the historical actual operating performance of the long-lived assets and assessing the potential impact of recent events and transactions impacting the long-lived assets. If such indicators are present, the Company determines if the long-lived assets are recoverable by assessing whether the sum of the estimated undiscounted future cash flows attributable to such assets is less than their carrying amounts. If the long-lived assets are not recoverable, the Company recognizes any impairment losses based on the excess of the carrying amount of the assets over their fair value. During the 13 weeks ended June 27, 2024, the Company determined that indicators of impairment were present at one asset group for a leased theatre location that we made the decision to close during the second quarter of fiscal 2024. As such, the Company evaluated the fair value of these assets, consisting primarily of land improvements, leasehold improvements, building, furniture, fixtures and equipment, and operating lease right-of-use assets less lease obligations, and determined that the fair value, measured using Level 3 pricing inputs (using estimated discounted cash flows over the life of the primary asset), was less than their carrying values and recorded a $472 impairment loss, reducing certain property and equipment and certain operating lease net obligations. The remaining net book value of the impaired assets as of the date of the asset write-down (June 27, 2024) was $0. There were no indicators of impairment identified during the 26 weeks ended June 29, 2023.
Goodwill	Goodwill – The Company reviews goodwill for impairment annually or more frequently if certain indicators arise. The Company performs its annual impairment test on the first day of the fiscal fourth quarter. There were no indicators of impairment identified during the 26 weeks ended June 27, 2024 or June 29, 2023.
Earnings (Loss) Per Share	Earnings (Loss) Per Share - Net earnings (loss) per share (EPS) of Common Stock and Class B Common Stock is computed using the two class method. Basic net earnings (loss) per share is computed by dividing net earnings (loss) by the weighted-average number of common shares outstanding. Diluted net earnings (loss) per share is computed by dividing net earnings (loss) by the weighted-average number of common shares outstanding, adjusted for the effect of dilutive stock options, restricted stock units, performance stock units and convertible debt instruments using the if-converted method. Convertible Class B Common Stock and convertible debt instruments are reflected on an if-converted basis when dilutive to Common Stock. The computation of the diluted net earnings (loss) per share of Common Stock assumes the conversion of Class B Common Stock in periods that have net earnings since it would be dilutive to Common Stock earnings per share, while the diluted net earnings (loss) per share of Class B Common Stock does not assume the conversion of those shares. Holders of Common Stock are entitled to cash dividends per share equal to 110% of all dividends declared and paid on each share of Class B Common Stock. As such, the undistributed earnings (losses) for each period are allocated based on the proportionate share of entitled cash dividends. The following table illustrates the computation of Common Stock basic and diluted net earnings (loss) per share, provides a reconciliation of the number of weighted-average basic and diluted shares outstanding, when applicable, and provides the weighted-average number of anti-dilutive shares excluded from the computation of diluted weighted-average shares outstanding: 13 Weeks Ended 26 Weeks Ended June 27, 2024 June 29, 2023 June 27, 2024 June 29, 2023 Net earnings (loss) per share - basic: Common Stock $ (0.64) $ 0.43 $ (1.03) $ 0.13 Class B Common Stock $ (0.58) $ 0.39 $ (0.92) $ 0.12 Net earnings (loss) per share - diluted: Common Stock $ (0.64) $ 0.35 $ (1.03) $ 0.13 Class B Common Stock $ (0.58) $ 0.34 $ (0.92) $ 0.12 Numerator: Net earnings (loss) $ (20,221) $ 13,466 $ (32,087) $ 4,000 Denominator (in thousands): Denominator for basic EPS 32,161 31,673 32,027 31,622 Effect of dilutive employee stock options — 61 — 52 Effect of convertible senior notes — 9,201 — — Diluted weighted-average shares outstanding 32,161 40,935 32,027 31,674 Weighted-average number of anti-dilutive shares excluded from denominator (in thousands): Employee stock options 3,146 2,506 2,934 3,014 Restricted stock units 50 — 50 — Performance stock units 143 — 143 — Convertible senior notes 6,719 — 8,009 9,201 Total 10,058 2,506 11,136 12,215 For the periods when the Company reports a net loss, common stock equivalents, restricted stock units, performance stock units, and shares related to the convertible senior notes are excluded from the computation of diluted loss per share as their inclusion would have an anti-dilutive effect. Performance stock units are considered anti-dilutive if the performance targets upon which the issuance of the shares are contingent have not been achieved and the respective performance period has not been completed as of the end of the current period. Shares related to the convertible senior notes are excluded from the computation of diluted earnings per share in periods when the effect would have been anti-dilutive using the if-converted method.
Fair Value Measurements	Fair Value Measurements - Certain financial assets and liabilities are recorded at fair value in the consolidated financial statements. Some are measured on a recurring basis while others are measured on a non-recurring basis. Financial assets and liabilities measured on a recurring basis are those that are adjusted to fair value each time a financial statement is prepared. Financial assets and liabilities measured on a non-recurring basis are those that are adjusted to fair value when a significant event occurs. A fair value measurement assumes that a transaction to sell an asset or transfer a liability occurs in the principal market for the asset or liability or, in the absence of a principal market, the most advantageous market for the asset or liability. The Company’s assets and liabilities measured at fair value are classified in one of the following categories: Level 1 - Assets or liabilities for which fair value is based on quoted prices in active markets for identical instruments as of the reporting date. At June 27, 2024 and December 28, 2023, the Company’s $6,835 and $5,364 respectively, of debt and equity securities classified as trading were valued using Level 1 pricing inputs and were included in other current assets. At June 27, 2024 and December 28, 2023, the Company’s $18,000 and $37,018, respectively, of investments in money market funds were valued using Level 1 pricing inputs and were included in cash and cash equivalents. Level 2 - Assets or liabilities for which fair value is based on pricing inputs that were either directly or indirectly observable as of the reporting date. At each of June 27, 2024 and December 28, 2023, none of the Company’s recorded assets or liabilities were measured using Level 2 pricing inputs. Level 3 - Assets or liabilities for which fair value is based on valuation models with significant unobservable pricing inputs and which result in the use of management estimates. At each of June 27, 2024 and December 28, 2023, none of the Company’s recorded assets or liabilities that are measured on a recurring basis at fair market value were valued using Level 3 pricing inputs. Assets that are measured on a non-recurring basis are discussed above under Long-Lived Assets . The carrying value of the Company’s financial instruments (including cash and cash equivalents, restricted cash, accounts receivable and accounts payable) approximates fair value. The fair value of the Company’s $70,000 of senior notes, valued using Level 2 pricing inputs, is approximately $66,573 at June 27, 2024, determined based upon discounted cash flows using current market interest rates for financial instruments with a similar average remaining life. The fair value of the Company's $60,050 of convertible senior notes, valued using Level 2 pricing inputs, is approximately $70,212 at June 27, 2024, determined based on market rates and the closing trading price of the convertible senior notes as of June 27, 2024. The carrying amounts of the Company’s remaining long-term debt approximate their fair values, determined using current rates for similar instruments, or Level 2 pricing inputs.
Defined Benefit Plan	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 26 Weeks Ended June 27, 2024 June 29, 2023 June 27, 2024 June 29, 2023 Service cost $ 62 $ 122 $ 124 $ 244 Interest cost 445 452 889 905 Net amortization of prior service cost and actuarial loss (16) (16) (32) (32) Net periodic pension cost $ 491 $ 558 $ 981 $ 1,117 Service cost is included in Administrative expense while all other components are recorded within Other expense outside of operating income in the consolidated statements of earnings.
Revenue Recognition	Revenue Recognition – The disaggregation of revenues by business segment for the 13 and 26 weeks ended June 27, 2024 is as follows: 13 Weeks Ended June 27, 2024 Theatres Hotels/Resorts Corporate Total Theatre admissions $ 48,580 $ — $ — $ 48,580 Rooms — 30,496 — 30,496 Theatre concessions 44,417 — — 44,417 Food and beverage — 19,272 — 19,272 Other revenues (1) 8,455 13,996 83 22,534 Cost reimbursements — 10,733 — 10,733 Total revenues $ 101,452 $ 74,497 $ 83 $ 176,032 26 Weeks Ended June 27, 2024 Theatres Hotels/Resorts Corporate Total Theatre admissions $ 89,176 $ — $ — $ 89,176 Rooms — 48,709 — 48,709 Theatre concessions 79,112 — — 79,112 Food and beverage — 35,435 — 35,435 Other revenues (1) 14,434 27,639 163 42,236 Cost reimbursements — 19,911 — 19,911 Total revenues $ 182,722 $ 131,694 $ 163 $ 314,579 (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 June 29, 2023 is as follows: 13 Weeks Ended June 29, 2023 Theatres Hotels/Resorts Corporate Total Theatre admissions $ 68,987 $ — $ — $ 68,987 Rooms — 28,646 — 28,646 Theatre concessions 59,707 — — 59,707 Food and beverage — 18,573 — 18,573 Other revenues (1) 8,156 13,181 91 21,428 Cost reimbursements — 9,666 — 9,666 Total revenues $ 136,850 $ 70,066 $ 91 $ 207,007 26 Weeks Ended June 29, 2023 Theatres Hotels/Resorts Corporate Total Theatre admissions $ 116,622 $ — $ — $ 116,622 Rooms — 46,503 — 46,503 Theatre concessions 102,082 — — 102,082 Food and beverage — 33,766 — 33,766 Other revenues (1) 14,522 26,414 180 41,116 Cost reimbursements — 19,194 — 19,194 Total revenues $ 233,226 $ 125,877 $ 180 $ 359,283 (1) Included in other revenues is an immaterial amount related to rental income that is not considered revenue from contracts with customers. The Company had deferred revenue from contracts with customers of $39,705 and $38,034 as of June 27, 2024 and December 28, 2023, respectively. The Company had no contract assets as of June 27, 2024 and December 28, 2023. During the 26 weeks ended June 27, 2024, the Company recognized revenue of $12,789 that was included in deferred revenues as of December 28, 2023. During the 26 weeks ended June 29, 2023, the Company recognized revenue of $10,875 that was included in deferred revenues as of December 29, 2022. The majority of the Company’s deferred revenue relates to non-redeemed gift cards, advanced ticket sales and the Company’s loyalty program. As of June 27, 2024, the amount of transaction price allocated to the remaining performance obligations under the Company’s advanced ticket sales was $1,989 and is reflected in the Company’s consolidated balance sheet as part of deferred revenues, which is included in other accrued liabilities. As of June 27, 2024, the amount of transaction price allocated to the remaining performance obligations related to the amount of Theatres non-redeemed gift cards was $15,178 and is reflected in the Company’s consolidated balance sheet as part of deferred revenues. The Company recognizes revenue as the tickets and gift cards are redeemed, which is expected to occur within the next two years. As of June 27, 2024, the amount of transaction price allocated to the remaining performance obligations related to the amount of Hotels and Resorts non-redeemed gift cards was $4,254 and is reflected in the Company’s consolidated balance sheet as part of deferred revenues. The Company recognizes revenue as the gift cards are redeemed, which is expected to occur within the next two years. The majority of the Company’s revenue is recognized in less than one year from the original contract.
New Accounting Pronouncements	New Accounting Pronouncements - In November 2023, the Financial Accounting Standards Board (FASB) issued ASU No. 2023-07, Segment Reporting (Topic 280: Improvements to Reportable Segment Disclosures (ASU No. 2023-07) , which requires disclosure of incremental segment information on an annual and interim basis. ASU No 2023-07 will be effective for the Company’s fiscal year ending December 26, 2024, and the Company’s interim periods beginning in fiscal 2025. The Company is evaluating the effect that the guidance will have on its consolidated financial statement disclosures. In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740: Improvements to Income Tax Disclosures (ASU No. 2023-09 ), which requires improvements to income tax disclosures primarily related to rate reconciliation and income taxes paid information. ASU No. 2023-09 will be effective for the Company in fiscal 2025 and must be applied prospectively with retrospective application permitted. The Company is evaluating the impact that ASU No. 2023-09 will have on its consolidated financial statement disclosures.
Leases	The Company determines if an arrangement is a lease at inception. The Company evaluates each lease for classification as either a finance lease or an operating lease according to Accounting Standards Codification No. 842, Leases . The Company performs this evaluation at the inception of the lease and when a modification is made to a lease. The Company leases real estate and equipment with lease terms of one year to 45 years, some of which include options to extend and/or terminate the lease. The majority of the Company’s lease agreements include fixed rental payments. For those leases with variable payments based on increases in an index subsequent to lease commencement, such payments are recognized as variable lease expense as they occur. Variable lease payments that do not depend on an index or rate, including those that depend on the Company’s performance or use of the underlying asset, are also expensed as incurred. Lease expense for operating lease payments is recognized on a straight-line basis over the lease term.

General (Tables)

General (Tables)	6 Months Ended
General (Tables)	Jun. 27, 2024
Accounting Policies [Abstract]
Schedule of Earnings (Loss) Per Share	The following table illustrates the computation of Common Stock basic and diluted net earnings (loss) per share, provides a reconciliation of the number of weighted-average basic and diluted shares outstanding, when applicable, and provides the weighted-average number of anti-dilutive shares excluded from the computation of diluted weighted-average shares outstanding: 13 Weeks Ended 26 Weeks Ended June 27, 2024 June 29, 2023 June 27, 2024 June 29, 2023 Net earnings (loss) per share - basic: Common Stock $ (0.64) $ 0.43 $ (1.03) $ 0.13 Class B Common Stock $ (0.58) $ 0.39 $ (0.92) $ 0.12 Net earnings (loss) per share - diluted: Common Stock $ (0.64) $ 0.35 $ (1.03) $ 0.13 Class B Common Stock $ (0.58) $ 0.34 $ (0.92) $ 0.12 Numerator: Net earnings (loss) $ (20,221) $ 13,466 $ (32,087) $ 4,000 Denominator (in thousands): Denominator for basic EPS 32,161 31,673 32,027 31,622 Effect of dilutive employee stock options — 61 — 52 Effect of convertible senior notes — 9,201 — — Diluted weighted-average shares outstanding 32,161 40,935 32,027 31,674 Weighted-average number of anti-dilutive shares excluded from denominator (in thousands): Employee stock options 3,146 2,506 2,934 3,014 Restricted stock units 50 — 50 — Performance stock units 143 — 143 — Convertible senior notes 6,719 — 8,009 9,201 Total 10,058 2,506 11,136 12,215
Schedule of Stockholders Equity	Activity impacting total shareholders’ equity attributable to The Marcus Corporation and noncontrolling interest for the 26 weeks ended June 27, 2024 and June 29, 2023 was as follows: Common Class B Capital Retained Accumulated Treasury Total Shareholders’ BALANCES AT DECEMBER 28, 2023 $ 24,692 $ 7,078 $ 160,642 $ 281,599 $ (1,336) $ (1,503) $ 471,172 Cash dividends: $0.064 per share Class B Common Stock — — — (449) — — (449) $0.07 per share Common Stock — — — (1,760) — — (1,760) Purchase of treasury stock — — — — — (301) (301) Reissuance of treasury stock — — (3) — — 23 20 Issuance of non-vested stock 452 — (515) — — 63 — Shared-based compensation — — 2,514 — — — 2,514 Conversions of Class B Common Stock 93 (93) — — — — — Comprehensive loss — — — (11,866) (12) — (11,878) BALANCES AT MARCH 28, 2024 25,237 6,985 162,638 267,524 (1,348) (1,718) 459,318 Cash dividends: $0.064 per share Class B Common Stock — — — (447) — — (447) $0.07 per share Common Stock — — — (1,763) — — (1,763) Reissuance of treasury stock — — (7) — — 23 16 Issuance of non-vested stock — — (326) — — 326 — Shared-based compensation — — 2,418 — — — 2,418 Convertible senior note repurchase — — (2,788) — — — (2,788) Capped call unwind — — 12,904 — — — 12,904 Comprehensive loss — — — (20,221) (11) — (20,232) BALANCES AT JUNE 27, 2024 $ 25,237 $ 6,985 $ 174,839 $ 245,093 $ (1,359) $ (1,369) $ 449,426 Common Class B Capital Retained Accumulated Treasury Shareholders’ Non- Total BALANCES AT DECEMBER 29, 2022 $ 24,498 $ 7,111 $ 153,794 $ 274,254 $ (1,694) $ (1,866) $ 456,097 $ 824 $ 456,921 Cash dividends: $0.045 per share Class B Common Stock — — — (319) — — (319) — (319) $0.05 per share Common Stock — — — (1,229) — — (1,229) — (1,229) Exercise of stock options — — (1) — — 3 2 — 2 Purchase of treasury stock — — — — — (313) (313) — (313) Savings and profit-sharing contribution 79 — 1,180 — — — 1,259 — 1,259 Reissuance of treasury stock — — (3) — — 24 21 — 21 Issuance of non-vested stock 82 — (143) — — 61 — — — Shared-based compensation — — 2,172 — — — 2,172 — 2,172 Other — — 1 (1) — — — — — Conversions of Class B Common Stock 33 (33) — — — — — — — Distribution to noncontrolling interest — — — — — — — (550) (550) Comprehensive loss — — — (9,466) (91) — (9,557) — (9,557) BALANCES AT MARCH 30, 2023 24,692 7,078 157,000 263,239 (1,785) (2,091) 448,133 274 448,407 Cash dividends: $0.045 per share Class B Common Stock — — — (319) — — (319) — (319) $0.05 per share Common Stock — — — (1,230) — — (1,230) — (1,230) Exercise of stock options — — (25) — — 121 96 — 96 Purchase of treasury stock — — — — — (226) (226) — (226) Reissuance of treasury stock — — (204) — — 223 19 — 19 Issuance of non-vested stock — — (55) — — 55 — — — Shared-based compensation — — 1,515 — — — 1,515 — 1,515 Other — — — 1 — (1) — — — Distribution to noncontrolling interest — — — — — — — (274) (274) Comprehensive income (loss) — — — 13,466 (12) — 13,454 — 13,454 BALANCES AT JUNE 29, 2023 $ 24,692 $ 7,078 $ 158,231 $ 275,157 $ (1,797) $ (1,919) $ 461,442 $ — $ 461,442
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 27, December 28, Net unrecognized actuarial loss for pension obligation $ (1,359) $ (1,336) $ (1,359) $ (1,336)
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 26 Weeks Ended June 27, 2024 June 29, 2023 June 27, 2024 June 29, 2023 Service cost $ 62 $ 122 $ 124 $ 244 Interest cost 445 452 889 905 Net amortization of prior service cost and actuarial loss (16) (16) (32) (32) Net periodic pension cost $ 491 $ 558 $ 981 $ 1,117
Schedule of Disaggregation of Revenue	The disaggregation of revenues by business segment for the 13 and 26 weeks ended June 27, 2024 is as follows: 13 Weeks Ended June 27, 2024 Theatres Hotels/Resorts Corporate Total Theatre admissions $ 48,580 $ — $ — $ 48,580 Rooms — 30,496 — 30,496 Theatre concessions 44,417 — — 44,417 Food and beverage — 19,272 — 19,272 Other revenues (1) 8,455 13,996 83 22,534 Cost reimbursements — 10,733 — 10,733 Total revenues $ 101,452 $ 74,497 $ 83 $ 176,032 26 Weeks Ended June 27, 2024 Theatres Hotels/Resorts Corporate Total Theatre admissions $ 89,176 $ — $ — $ 89,176 Rooms — 48,709 — 48,709 Theatre concessions 79,112 — — 79,112 Food and beverage — 35,435 — 35,435 Other revenues (1) 14,434 27,639 163 42,236 Cost reimbursements — 19,911 — 19,911 Total revenues $ 182,722 $ 131,694 $ 163 $ 314,579 (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 June 29, 2023 is as follows: 13 Weeks Ended June 29, 2023 Theatres Hotels/Resorts Corporate Total Theatre admissions $ 68,987 $ — $ — $ 68,987 Rooms — 28,646 — 28,646 Theatre concessions 59,707 — — 59,707 Food and beverage — 18,573 — 18,573 Other revenues (1) 8,156 13,181 91 21,428 Cost reimbursements — 9,666 — 9,666 Total revenues $ 136,850 $ 70,066 $ 91 $ 207,007 26 Weeks Ended June 29, 2023 Theatres Hotels/Resorts Corporate Total Theatre admissions $ 116,622 $ — $ — $ 116,622 Rooms — 46,503 — 46,503 Theatre concessions 102,082 — — 102,082 Food and beverage — 33,766 — 33,766 Other revenues (1) 14,522 26,414 180 41,116 Cost reimbursements — 19,194 — 19,194 Total revenues $ 233,226 $ 125,877 $ 180 $ 359,283 (1) Included in other revenues is an immaterial amount related to rental income that is not considered revenue from contracts with customers.

Long-Term Debt (Tables)

Long-Term Debt (Tables)	6 Months Ended
Long-Term Debt (Tables)	Jun. 27, 2024
Debt Disclosure [Abstract]
Schedule of Long-term debt and short-term borrowings	Long-term debt is summarized as follows: June 27, 2024 December 28, 2023 Senior notes $ 70,000 $ 70,000 Unsecured term note due February 2025, with monthly principal and interest payments of $39, bearing interest at 5.75% 306 528 Convertible senior notes 60,050 100,050 Payroll Protection Program loans 774 1,233 Revolving credit agreement 45,000 — Debt issuance costs (453) (1,960) Total debt, net of debt issuance costs 175,677 169,851 Less current maturities, net of issuance costs 10,815 10,303 Long-term debt $ 164,862 $ 159,548

Leases (Tables)

Leases (Tables)	6 Months Ended
Leases (Tables)	Jun. 27, 2024
Leases [Abstract]
Schedule of Lease Cost	Total lease cost consists of the following: 13 Weeks Ended 26 Weeks Ended Lease Cost Classification June 27, 2024 June 29, 2023 June 27, 2024 June 29, 2023 Finance lease costs: Amortization of finance lease assets Depreciation and amortization $ 554 $ 688 $ 1,169 $ 1,379 Interest on lease liabilities Interest expense 160 192 335 390 $ 714 $ 880 $ 1,504 $ 1,769 Operating lease costs: Operating lease costs Rent expense $ 6,133 $ 6,033 $ 12,118 $ 12,077 Variable lease cost Rent expense 290 527 602 943 Short-term lease cost Rent expense 73 34 123 67 $ 6,496 $ 6,594 $ 12,843 $ 13,087
Schedule of Other Information Related to Leases	Additional information related to leases is as follows: 13 Weeks Ended 26 Weeks Ended Other Information June 27, 2024 June 29, 2023 June 27, 2024 June 29, 2023 Cash paid for amounts included in the measurement of lease liabilities: Financing cash flows from finance leases $ 613 $ 645 $ 1,214 $ 1,201 Operating cash flows from finance leases 160 192 335 390 Operating cash flows from operating leases 6,527 6,429 12,809 12,859 Right of use assets obtained in exchange for new lease obligations: Finance lease liabilities 115 136 115 136 Operating lease liabilities 2,112 — 2,112 — June 27, 2024 December 28, 2023 Finance leases: Property and equipment – gross $ 30,037 $ 30,106 Accumulated depreciation and amortization (19,065) (17,956) Property and equipment - net $ 10,972 $ 12,150
Schedule of Lease Term and Discount Rate	Remaining lease terms and discount rates are as follows: Lease Term and Discount Rate June 27, 2024 December 28, 2023 Weighted-average remaining lease terms: Finance leases 6 years 7 years Operating leases 11 years 12 years Weighted-average discount rates: Finance leases 4.67 % 4.62 % Operating leases 4.73 % 4.52 %

Share Based Compensation (Table

Share Based Compensation (Tables)	6 Months Ended
Share Based Compensation (Tables)	Jun. 27, 2024
Share-Based Payment Arrangement [Abstract]
Schedule Of Share-Based Payment Arrangement, Activity	A summary of the Company’s stock option, restricted stock and RSU and PSU activity and related information follows, with PSUs reflected at the target achievement percentage until the completion of the performance period (shares in thousands): Stock Options Restricted Stock & RSUs PSUs Options Weighted-Average Exercise Price Shares / Units Weighted-Average Fair Value Units Weighted-Average Fair Value December 28, 2023 3,173 $ 22.69 238 $ 17.41 — $ — Granted — — 503 14.83 143 14.84 Exercised (1) — — — — — — Vested (2) — — (47) 21.37 — — Forfeited (30) 21.16 (2) 14.84 (2) 14.84 June 27, 2024 3,143 $ 22.70 692 $ 15.28 141 $ 14.84 (1) Exercise activity only applicable to stock options. (2) Vesting activity not applicable to stock options.

Business Segment Information (T

Business Segment Information (Tables)	6 Months Ended
Business Segment Information (Tables)	Jun. 27, 2024
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	Following is a summary of business segment information for the 13 and 26 weeks ended June 27, 2024 and June 29, 2023: 13 Weeks Ended Theatres Hotels/ Corporate Total June 27, 2024 Revenues $ 101,452 $ 74,497 $ 83 $ 176,032 Operating income (loss) 2,781 6,117 (6,661) 2,237 Depreciation and amortization 11,520 5,048 131 16,699 13 Weeks Ended Theatres Hotels/ Corporate Total June 29, 2023 Revenues $ 136,850 $ 70,066 $ 91 $ 207,007 Operating income (loss) 19,811 6,105 (5,106) 20,810 Depreciation and amortization 11,317 4,588 89 15,994 26 Weeks Ended Theatres Hotels/ Corporate Total June 27, 2024 Revenues $ 182,722 $ 131,694 $ 163 $ 314,579 Operating income (loss) (2,958) 955 (12,425) (14,428) Depreciation and amortization 22,553 9,912 249 32,714 26 Weeks Ended Theatres Hotels/ Corporate Total June 29, 2023 Revenues $ 233,226 $ 125,877 $ 180 $ 359,283 Operating income (loss) 21,330 1,073 (10,581) 11,822 Depreciation and amortization 22,805 8,889 176 31,870

General - Narrative (Details)

General - Narrative (Details) - USD ($)	3 Months Ended		6 Months Ended
General - Narrative (Details) - USD ($)	Jun. 27, 2024	Jun. 29, 2023	Jun. 27, 2024	Jun. 29, 2023	Dec. 28, 2023
Summary of Significant Accounting Policies [Line Items]
Depreciation	$ 16,701,000	$ 15,986,000	$ 32,715,000	$ 31,854,000
Goodwill, impairment loss			$ 0	0
Percentage of cash dividends			110%
Cash and cash equivalents	32,810,000		$ 32,810,000		$ 55,589,000
Senior notes	70,000,000		70,000,000		70,000,000
Convertible senior notes	60,050,000		60,050,000		100,050,000
Deferred revenue	39,705,000		39,705,000		38,034,000
Contract assets	0		0		0
Deferred revenue, revenue recognized			12,789,000	10,875,000
Theatres \| Operating Segments
Summary of Significant Accounting Policies [Line Items]
Remaining performance obligation related to gift cards	15,178,000		15,178,000
Hotels/ Resorts \| Operating Segments
Summary of Significant Accounting Policies [Line Items]
Remaining performance obligation related to hotels gift cards	4,254,000		$ 4,254,000
Expected period for revenue from non-redeemed gift cards			2 years
Advanced Sale Of Tickets
Summary of Significant Accounting Policies [Line Items]
Remaining performance obligation, amount	1,989,000		$ 1,989,000
Expected period for redeemed revenue from advanced tickets and gift cards sales occurred			2 years
Level 1
Summary of Significant Accounting Policies [Line Items]
Trading securities, fair value	6,835,000		$ 6,835,000		5,364,000
Level 1 \| Money Market Funds
Summary of Significant Accounting Policies [Line Items]
Cash and cash equivalents	18,000,000		18,000,000		37,018,000
Level 2
Summary of Significant Accounting Policies [Line Items]
Senior notes	66,573,000		66,573,000
Level 2 \| Convertible Debt
Summary of Significant Accounting Policies [Line Items]
Debt instrument, fair value	70,212,000		70,212,000
Level 2 \| Recurring
Summary of Significant Accounting Policies [Line Items]
Fair value, asset (liability)	0		0		0
Level 3
Summary of Significant Accounting Policies [Line Items]
Impairment of fixed assets			472,000	$ 0
Impaired assets	0		0
Level 3 \| Recurring
Summary of Significant Accounting Policies [Line Items]
Fair value, asset (liability)	$ 0		$ 0		$ 0

General - Schedule of Earnings

General - Schedule of Earnings (Loss) Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 27, 2024	Jun. 29, 2023	Jun. 27, 2024	Jun. 29, 2023
Numerator:
Net earnings (loss)	$ (20,221)	$ 13,466	$ (32,087)	$ 4,000
Denominator
Denominator for basic EPS (in shares)	32,161	31,673	32,027	31,622
Effect of dilutive employee stock options (in shares)	0	61	0	52
Effect of convertible senior notes (in shares)	0	9,201	0	0
Diluted weighted-average shares outstanding (in shares)	32,161	40,935	32,027	31,674
Weighted-average number of anti-dilutive shares excluded from denominator (in thousands):
Weighted-average number of anti-dilutive shares excluded from denominator (in shares)	10,058	2,506	11,136	12,215
Employee stock options
Weighted-average number of anti-dilutive shares excluded from denominator (in thousands):
Weighted-average number of anti-dilutive shares excluded from denominator (in shares)	3,146	2,506	2,934	3,014
Restricted stock units
Weighted-average number of anti-dilutive shares excluded from denominator (in thousands):
Weighted-average number of anti-dilutive shares excluded from denominator (in shares)	50	0	50	0
PSUs
Weighted-average number of anti-dilutive shares excluded from denominator (in thousands):
Weighted-average number of anti-dilutive shares excluded from denominator (in shares)	143	0	143	0
Convertible senior notes
Weighted-average number of anti-dilutive shares excluded from denominator (in thousands):
Weighted-average number of anti-dilutive shares excluded from denominator (in shares)	6,719	0	8,009	9,201
Common Stock
Net earnings (loss) per share - basic:
Net earnings (loss) per share - basic (in dollars per share)	$ (0.64)	$ 0.43	$ (1.03)	$ 0.13
Net earnings (loss) per share - diluted:
Net earnings (loss) per share - diluted (in dollars per share)	(0.64)	0.35	(1.03)	0.13
Class B Common Stock
Net earnings (loss) per share - basic:
Net earnings (loss) per share - basic (in dollars per share)	(0.58)	0.39	(0.92)	0.12
Net earnings (loss) per share - diluted:
Net earnings (loss) per share - diluted (in dollars per share)	$ (0.58)	$ 0.34	$ (0.92)	$ 0.12

General - Schedule of Sharehold

General - Schedule of Shareholders' Equity (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 27, 2024	Mar. 28, 2024	Jun. 29, 2023	Mar. 30, 2023	Jun. 27, 2024	Jun. 29, 2023
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance			$ 448,407	$ 456,921		$ 456,921
Cash dividends	$ (1,763)	$ (1,760)	(1,230)	(1,229)
Exercise of stock options			96	2
Purchase of treasury stock		(301)	(226)	(313)
Savings and profit-sharing contribution				1,259
Reissuance of treasury stock	16	20	19	21
Issuance of non-vested stock	0	0	0	0
Shared-based compensation	2,418	2,514	1,515	2,172
Other			0	0
Conversions of Class B Common Stock		0		0
Distribution to noncontrolling interest			(274)	(550)
Convertible senior note repurchase	(2,788)
Capped call unwind	12,904
Comprehensive income (loss)	(20,232)	(11,878)	13,454	(9,557)	$ (32,110)	3,897
Ending balance			461,442	448,407		461,442
Shareholders’ Equity Attributable to The Marcus Corporation
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	459,318	471,172	448,133	456,097	471,172	456,097
Cash dividends			(1,230)	(1,229)
Exercise of stock options			96	2
Purchase of treasury stock			(226)	(313)
Savings and profit-sharing contribution				1,259
Reissuance of treasury stock			19	21
Issuance of non-vested stock			0	0
Shared-based compensation			1,515	2,172
Other			0	0
Conversions of Class B Common Stock				0
Distribution to noncontrolling interest			0	0
Comprehensive income (loss)			13,454	(9,557)
Ending balance	449,426	459,318	461,442	448,133	449,426	461,442
Common Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	25,237	24,692	24,692	24,498	24,692	24,498
Savings and profit-sharing contribution				79
Issuance of non-vested stock	0	452	0	82
Conversions of Class B Common Stock		93		33
Ending balance	25,237	25,237	24,692	24,692	25,237	24,692
Capital in Excess of Par
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	162,638	160,642	157,000	153,794	160,642	153,794
Exercise of stock options			(25)	(1)
Savings and profit-sharing contribution				1,180
Reissuance of treasury stock	(7)	(3)	(204)	(3)
Issuance of non-vested stock	(326)	(515)	(55)	(143)
Shared-based compensation	2,418	2,514	1,515	2,172
Other				1
Convertible senior note repurchase	(2,788)
Capped call unwind	12,904
Ending balance	174,839	162,638	158,231	157,000	174,839	158,231
Retained Earnings
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	267,524	281,599	263,239	274,254	281,599	274,254
Cash dividends	(1,763)	(1,760)	(1,230)	(1,229)
Other			1	(1)
Comprehensive income (loss)	(20,221)	(11,866)	13,466	(9,466)
Ending balance	245,093	267,524	275,157	263,239	245,093	275,157
Accumulated Other Comprehensive Loss
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	(1,348)	(1,336)	(1,785)	(1,694)	(1,336)	(1,694)
Comprehensive income (loss)	(11)	(12)	(12)	(91)
Ending balance	(1,359)	(1,348)	(1,797)	(1,785)	(1,359)	(1,797)
Treasury Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	(1,718)	(1,503)	(2,091)	(1,866)	(1,503)	(1,866)
Exercise of stock options			121	3
Purchase of treasury stock		(301)	(226)	(313)
Reissuance of treasury stock	23	23	223	24
Issuance of non-vested stock	326	63	55	61
Other			(1)
Ending balance	$ (1,369)	$ (1,718)	(1,919)	(2,091)	(1,369)	(1,919)
Non- controlling Interest
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance			274	824		824
Distribution to noncontrolling interest			(274)	(550)
Ending balance			$ 0	$ 274		0
Common Stock
Common stock, dividends (in dollars per share)	$ 0.07	$ 0.07	$ 0.05	$ 0.05
Class B Common Stock
Common stock, dividends (in dollars per share)	$ 0.064	$ 0.064	$ 0.045	$ 0.045
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cash dividends	$ (447)	$ (449)	$ (319)	$ (319)
Class B Common Stock \| Shareholders’ Equity Attributable to The Marcus Corporation
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cash dividends			(319)	(319)
Class B Common Stock \| Common Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	6,985	7,078	7,078	7,111	7,078	7,111
Conversions of Class B Common Stock		(93)		(33)
Ending balance	6,985	6,985	7,078	7,078	$ 6,985	$ 7,078
Class B Common Stock \| Retained Earnings
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cash dividends	$ (447)	$ (449)	$ (319)	$ (319)

General - Schedule of Accumulat

General - Schedule of Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	Jun. 27, 2024	Dec. 28, 2023
Accounting Policies [Abstract]
Net unrecognized actuarial loss for pension obligation	$ (1,359)	$ (1,336)
Accumulated other comprehensive loss	$ (1,359)	$ (1,336)

General - Schedule of Defined B

General - Schedule of Defined Benefit Plan (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 27, 2024	Jun. 29, 2023	Jun. 27, 2024	Jun. 29, 2023
Accounting Policies [Abstract]
Service cost	$ 62	$ 122	$ 124	$ 244
Interest cost	445	452	889	905
Net amortization of prior service cost and actuarial loss	(16)	(16)	(32)	(32)
Net periodic pension cost	$ 491	$ 558	$ 981	$ 1,117

General - Schedule of Disaggreg

General - Schedule of Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 27, 2024	Jun. 29, 2023	Jun. 27, 2024	Jun. 29, 2023
Summary of Significant Accounting Policies [Line Items]
Cost reimbursements	$ 10,733	$ 9,666	$ 19,911	$ 19,194
Total revenues	176,032	207,007	314,579	359,283
Theatre admissions
Summary of Significant Accounting Policies [Line Items]
Revenues	48,580	68,987	89,176	116,622
Rooms
Summary of Significant Accounting Policies [Line Items]
Revenues	30,496	28,646	48,709	46,503
Theatre concessions
Summary of Significant Accounting Policies [Line Items]
Revenues	44,417	59,707	79,112	102,082
Food and beverage
Summary of Significant Accounting Policies [Line Items]
Revenues	19,272	18,573	35,435	33,766
Other revenues
Summary of Significant Accounting Policies [Line Items]
Revenues	22,534	21,428	42,236	41,116
Operating Segments \| Theatres
Summary of Significant Accounting Policies [Line Items]
Cost reimbursements	0	0	0	0
Total revenues	101,452	136,850	182,722	233,226
Operating Segments \| Theatres \| Theatre admissions
Summary of Significant Accounting Policies [Line Items]
Revenues	48,580	68,987	89,176	116,622
Operating Segments \| Theatres \| Rooms
Summary of Significant Accounting Policies [Line Items]
Revenues	0	0	0	0
Operating Segments \| Theatres \| Theatre concessions
Summary of Significant Accounting Policies [Line Items]
Revenues	44,417	59,707	79,112	102,082
Operating Segments \| Theatres \| Food and beverage
Summary of Significant Accounting Policies [Line Items]
Revenues	0	0	0	0
Operating Segments \| Theatres \| Other revenues
Summary of Significant Accounting Policies [Line Items]
Revenues	8,455	8,156	14,434	14,522
Operating Segments \| Hotels/ Resorts
Summary of Significant Accounting Policies [Line Items]
Cost reimbursements	10,733	9,666	19,911	19,194
Total revenues	74,497	70,066	131,694	125,877
Operating Segments \| Hotels/ Resorts \| Theatre admissions
Summary of Significant Accounting Policies [Line Items]
Revenues	0	0	0	0
Operating Segments \| Hotels/ Resorts \| Rooms
Summary of Significant Accounting Policies [Line Items]
Revenues	30,496	28,646	48,709	46,503
Operating Segments \| Hotels/ Resorts \| Theatre concessions
Summary of Significant Accounting Policies [Line Items]
Revenues	0	0	0	0
Operating Segments \| Hotels/ Resorts \| Food and beverage
Summary of Significant Accounting Policies [Line Items]
Revenues	19,272	18,573	35,435	33,766
Operating Segments \| Hotels/ Resorts \| Other revenues
Summary of Significant Accounting Policies [Line Items]
Revenues	13,996	13,181	27,639	26,414
Corporate Items
Summary of Significant Accounting Policies [Line Items]
Cost reimbursements	0	0	0	0
Total revenues	83	91	163	180
Corporate Items \| Theatre admissions
Summary of Significant Accounting Policies [Line Items]
Revenues	0	0	0	0
Corporate Items \| Rooms
Summary of Significant Accounting Policies [Line Items]
Revenues	0	0	0	0
Corporate Items \| Theatre concessions
Summary of Significant Accounting Policies [Line Items]
Revenues	0	0	0	0
Corporate Items \| Food and beverage
Summary of Significant Accounting Policies [Line Items]
Revenues	0	0	0	0
Corporate Items \| Other revenues
Summary of Significant Accounting Policies [Line Items]
Revenues	$ 83	$ 91	$ 163	$ 180

Long-Term Debt - Schedule of Lo

Long-Term Debt - Schedule of Long-term debt and short-term borrowings (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Mar. 28, 2024	Jun. 27, 2024	Dec. 28, 2023
Debt Disclosure [Abstract]
Principal and interest payments	$ 39	$ 39
Interest rate of unsecured term note (as percent)	5.75%	5.75%
Senior notes		$ 70,000	$ 70,000
Unsecured term note due February 2025, with monthly principal and interest payments of $39, bearing interest at 5.75%		306	528
Convertible senior notes		60,050	100,050
Payroll Protection Program loans		774	1,233
Revolving credit agreement		45,000	0
Debt issuance costs		(453)	(1,960)
Total debt, net of debt issuance costs		175,677	169,851
Less current maturities, net of issuance costs		10,815	10,303
Long-term debt		$ 164,862	$ 159,548

Long-Term Debt - Narrative (Det

Long-Term Debt - Narrative (Details)					3 Months Ended	6 Months Ended	39 Months Ended
Long-Term Debt - Narrative (Details)	Mar. 28, 2024	Oct. 16, 2023 USD ($)	Sep. 28, 2023	Sep. 17, 2020 USD ($) $ / shares	Sep. 26, 2024	Jun. 27, 2024 USD ($) agreement $ / shares	Jun. 27, 2024 USD ($) agreement $ / shares	Dec. 28, 2023 USD ($) agreement	Sep. 22, 2020
Debt Instrument [Line Items]
Revolving credit agreement						$ 45,000,000	$ 45,000,000	$ 0
Senior notes						$ 70,000,000	$ 70,000,000	70,000,000
Trading period							20 days
Threshold trading days							30 days
Debt instrument, convertible, threshold percentage of stock price trigger							130%
Initial conversion premium				100%
Share price (in dollars per share) \| $ / shares				$ 8.99
Cap price of capped call transactions (in dollars per share) \| $ / shares				17.98		$ 17.39	$ 17.39
Strike price of capped call transactions (in dollars per share) \| $ / shares				$ 11.0128
Note Purchase Agreement
Debt Instrument [Line Items]
Senior notes						$ 70,000,000	$ 70,000,000	$ 70,000,000
Number of purchase agreements \| agreement						2	2	2
Convertible Debt
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage				5%					5%
Face amount				$ 100,050,000
Trading period						20 days
Threshold trading days						30 days
Debt instrument, convertible, threshold percentage of stock price trigger						130%
Measurement period						5 days
Consecutive trading day period						5 days
Conversion rate			0.093888	0.0908038
Debt instrument, convertible, conversion price (in dollars per share) \| $ / shares				$ 11.01		$ 10.65	$ 10.65
Initial conversion premium				22.50%
Share price (in dollars per share) \| $ / shares				$ 8.99
Debt instrument, redemption price, percentage of principal amount redeemed				100%
Forecast
Debt Instrument [Line Items]
Trading period					20 days
Threshold trading days					30 days
Debt instrument, convertible, threshold percentage of stock price trigger					130%
Minimum \| Senior Notes
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage						4.02%	4.02%
Maximum \| Senior Notes
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage						4.32%	4.32%
Maximum \| Convertible Debt
Debt Instrument [Line Items]
Debt instrument, convertible, threshold percentage of stock price trigger						98%
Revolving Credit Facility
Debt Instrument [Line Items]
Debt instrument, term (in years)	5 years
Maximum borrowing capacity		$ 225,000,000
Effective interest rate						6.98%	6.98%
Available facility						$ 175,185,000	$ 175,185,000
Debt instrument, net leverage ratio						3.50
Material acquisition benchmark amount						$ 30,000	$ 30,000
Interest coverage ratio						3
Revolving Credit Facility \| Minimum
Debt Instrument [Line Items]
Facility fee (as a percent)		0.175%
Revolving Credit Facility \| Maximum
Debt Instrument [Line Items]
Facility fee (as a percent)		0.275%
Revolving Credit Facility \| Greater of Federal Funds Rate or Overnight Bank Funding Rate
Debt Instrument [Line Items]
Specified margin (as a percent)		0.50%
Revolving Credit Facility \| For Full Fiscal Quarter If Material Acquisition Is Consummated
Debt Instrument [Line Items]
Debt instrument, net leverage ratio						4
Revolving Credit Facility \| SOFR
Debt Instrument [Line Items]
Specified margin (as a percent)		0.10%
Floor interest rate		0%
Revolving Credit Facility \| SOFR \| Based Upon Net Leverage Ratio
Debt Instrument [Line Items]
Specified margin (as a percent)		1%
Floor interest rate		1%
Revolving Credit Facility \| One-Month Secured Overnight Financing Rate (SOFR) \| Based Upon Net Leverage Ratio
Debt Instrument [Line Items]
Specified margin (as a percent)		0.10%

Long-Term Debt - Convertible Se

Long-Term Debt - Convertible Senior Notes Repurchases (Details)			3 Months Ended		6 Months Ended
	Jul. 16, 2024 USD ($)	Jun. 14, 2024 USD ($)	Jun. 27, 2024 USD ($) tranche	Jun. 29, 2023 USD ($)	Jun. 27, 2024 USD ($) tranche	Jun. 29, 2023 USD ($)	Jul. 09, 2024 USD ($)	Jun. 17, 2024 USD ($)	May 08, 2024 USD ($)
Debt Instrument [Line Items]
Debt conversion expense			$ 13,908,000	$ 0	$ 13,908,000	$ 0
Convertible Debt \| Convertible Senior Notes Repurchases
Debt Instrument [Line Items]
Debt instrument, repurchased face amount			86,401,000		86,401,000			$ 46,401,000	$ 40,000,000
Debt instrument, repurchase amount		$ 45,879,000	101,087,000		101,087,000
Debt instrument, repurchase amount, net of cash received			$ 87,857,000		$ 87,857,000
Debt instrument, number of repurchase tranches \| tranche			2		2
Debt conversion expense			$ 13,908,000		$ 13,908,000
Proceeds from capped call unwinds		$ 5,770,000	$ 13,230,000
Debt instrument, number of unwind tranches \| tranche			2		2
Convertible Debt \| Convertible Senior Notes Repurchases \| Subsequent Event
Debt Instrument [Line Items]
Debt instrument, repurchased face amount							$ 86,401,000
Debt instrument, repurchase amount	$ 55,208,000
Borrowing outstanding	13,649,000
Proceeds from capped call unwinds	$ 7,460,000

Leases - Narrative (Details)

Leases - Narrative (Details) $ in Thousands	Jun. 27, 2024 USD ($)
Deferred rent payments under operating lease	$ 619
Long-Term Operating Lease Obligations
Deferred rent payments under operating lease	$ 169
Minimum
Lease terms (in years)	1 year
Maximum
Lease terms (in years)	45 years

Leases - Schedule of Lease Cost

Leases - Schedule of Lease Cost (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 27, 2024	Jun. 29, 2023	Jun. 27, 2024	Jun. 29, 2023
Finance lease costs:
Amortization of finance lease assets	$ 554	$ 688	$ 1,169	$ 1,379
Interest on lease liabilities	160	192	335	390
Total finance lease costs	714	880	1,504	1,769
Operating lease costs:
Operating lease costs	6,133	6,033	12,118	12,077
Variable lease cost	290	527	602	943
Short-term lease cost	73	34	123	67
Total operating lease costs	$ 6,496	$ 6,594	$ 12,843	$ 13,087

Leases - Schedule of Other Info

Leases - Schedule of Other Information Related to Leases (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 27, 2024	Jun. 29, 2023	Jun. 27, 2024	Jun. 29, 2023
Cash paid for amounts included in the measurement of lease liabilities:
Financing cash flows from finance leases	$ 613	$ 645	$ 1,214	$ 1,201
Operating cash flows from finance leases	160	192	335	390
Operating cash flows from operating leases	6,527	6,429	12,809	12,859
Right of use assets obtained in exchange for new lease obligations:
Finance lease liabilities	115	136	115	136
Operating lease liabilities	$ 2,112	$ 0	$ 2,112	$ 0

Leases - Schedule of Finance Le

Leases - Schedule of Finance Leases (Details) - USD ($) $ in Thousands	Jun. 27, 2024	Dec. 28, 2023
Finance leases:
Property and equipment – gross	$ 30,037	$ 30,106
Accumulated depreciation and amortization	(19,065)	(17,956)
Finance lease right-of-use assets	$ 10,972	$ 12,150

Leases - Schedule of Lease Term

Leases - Schedule of Lease Term and Discount Rate (Details)	Jun. 27, 2024	Dec. 28, 2023
Weighted-average remaining lease terms:
Finance leases	6 years	7 years
Operating leases	11 years	12 years
Weighted-average discount rates:
Finance leases	4.67%	4.62%
Operating leases	4.73%	4.52%

Share Based Compensation - Sche

Share Based Compensation - Schedule Of Stock Option, Restricted Stock ,Restricted Stock Units And PSU Activity (Details) - $ / shares shares in Thousands	6 Months Ended
	Jun. 27, 2024	Dec. 28, 2023
Stock Options
Options
Outstanding at beginning of period (in shares)	3,173
Granted (in shares)	0
Exercised (in shares)	0
Vested (in shares)	0
Forfeited (in shares)	(30)
Outstanding at ending of period (in shares)	3,143
Weighted-Average Exercise Price
Outstanding at beginning of period (in dollars per shares)	$ 22.70	$ 22.69
Granted (in dollars per share)	0
Exercised (in dollars per share)	0
Vested (in dollars per share)	0
Forfeited (in dollars per share)	21.16
Outstanding at end of period (in dollars per shares)	$ 22.70
Restricted Stock & RSUs
Restricted Stock & RSUs, PSU
Outstanding at beginning of period (in shares)	238
Granted (in shares)	503
Exercised (in shares)	0
Vested (in shares)	(47)
Forfeited (in shares)	(2)
Outstanding at end of period (in shares)	692
Outstanding at beginning of period (in dollars per shares)	$ 15.28	17.41
Granted (in dollars per share)	14.83
Exercised (in dollars per share)	0
Vested (in dollars per share)	21.37
Forfeited (in dollars per share)	$ 14.84
PSUs
Restricted Stock & RSUs, PSU
Outstanding at beginning of period (in shares)	0
Granted (in shares)	143
Exercised (in shares)	0
Vested (in shares)	0
Forfeited (in shares)	(2)
Outstanding at end of period (in shares)	141
Outstanding at beginning of period (in dollars per shares)	$ 14.84	$ 0
Granted (in dollars per share)	14.84
Exercised (in dollars per share)	0
Vested (in dollars per share)	0
Forfeited (in dollars per share)	$ 14.84

Share Based Compensation - Narr

Share Based Compensation - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 27, 2024	Jun. 29, 2023	Jun. 27, 2024	Jun. 29, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-based compensation	$ 2,418	$ 1,515	$ 4,932	$ 3,687
Share based payment arrangement cost not yet recognized	$ 8,194		$ 8,194
Shares available for grants of additional stock options, non-vested stock (in shares)	446,074		446,074
PSUs
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Performance period			3 years
Share-based payment arrangement, weighted-average remaining life			3 years 1 month 6 days
PSUs \| Minimum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Percent of stock awarded based on performance			0%
PSUs \| Maximum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Percent of stock awarded based on performance			150%
PSUs \| Earnings Before Interest, Taxes, Depreciation and Amortization Growth Rate
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting percentage of number of performance shares upon achievement			25%
PSUs \| Average Return on Invested Capital
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting percentage of number of performance shares upon achievement			75%
Stock Options
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-based compensation expense unrecognized	$ 2,647		$ 2,647
Share-based payment arrangement, weighted-average remaining life			2 years 1 month 6 days
Restricted stock units
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-based payment arrangement, weighted-average remaining life			3 years 1 month 6 days
Restricted Stock
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-based payment arrangement, weighted-average remaining life			3 years 1 month 6 days
After Two Years \| Restricted Stock & RSUs
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Award options grants in period exercisable percentage			50%
After Three Years \| Restricted Stock & RSUs
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Award options grants in period exercisable percentage			100%
After Four Years \| Restricted Stock & RSUs
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Award options grants in period exercisable percentage			100%

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Income Taxes (Details) - USD ($) $ in Thousands	Jun. 27, 2024	Jun. 29, 2023	Jun. 27, 2024	Jun. 29, 2023
Income Tax Disclosure [Abstract]
Effective income tax rate, percent	(39.40%)	23.30%	4.90%	24%
Capped call transaction termination			$ 1,085

Joint Venture Transactions (Det

Joint Venture Transactions (Details) $ in Thousands			6 Months Ended
Joint Venture Transactions (Details) $ in Thousands	Mar. 28, 2024 USD ($)	Mar. 04, 2024 USD ($)	Jun. 27, 2024 USD ($) hotel
Hempel and Robinson Park
Guaranties and environmental indemnity amount			$ 6,200
Lofton Hotel
Number of guest and suite room \| hotel			251
Payments to acquire equity method investments		$ 5,620
Equity method investment, ownership percentage		33.30%	24.70%
Proceeds from sale of equity method investments	$ 1,500
Lofton Hotel \| The Marcus Corporation
Equity method investment, ownership percentage sold	8.60%

Business Segment Information (D

Business Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 27, 2024	Jun. 29, 2023	Jun. 27, 2024	Jun. 29, 2023
Segment Reporting Information [Line Items]
Revenues	$ 176,032	$ 207,007	$ 314,579	$ 359,283
Operating income (loss)	2,237	20,810	(14,428)	11,822
Depreciation and amortization	16,699	15,994	32,714	31,870
Operating Segments \| Theatres
Segment Reporting Information [Line Items]
Revenues	101,452	136,850	182,722	233,226
Operating income (loss)	2,781	19,811	(2,958)	21,330
Depreciation and amortization	11,520	11,317	22,553	22,805
Operating Segments \| Hotels/ Resorts
Segment Reporting Information [Line Items]
Revenues	74,497	70,066	131,694	125,877
Operating income (loss)	6,117	6,105	955	1,073
Depreciation and amortization	5,048	4,588	9,912	8,889
Corporate Items
Segment Reporting Information [Line Items]
Revenues	83	91	163	180
Operating income (loss)	(6,661)	(5,106)	(12,425)	(10,581)
Depreciation and amortization	$ 131	$ 89	$ 249	$ 176

Subsequent Events (Details)

Subsequent Events (Details) - USD ($)	Jul. 09, 2024	Aug. 01, 2024	Jun. 27, 2024	Jun. 17, 2024	May 08, 2024	Sep. 22, 2020	Sep. 17, 2020
Convertible Debt
Subsequent Event [Line Items]
Face amount							$ 100,050,000
Debt instrument, interest rate, stated percentage						5%	5%
Convertible Debt \| Convertible Senior Notes Repurchases
Subsequent Event [Line Items]
Debt instrument, repurchased face amount			$ 86,401,000	$ 46,401,000	$ 40,000,000
Subsequent Event \| Senior Notes
Subsequent Event [Line Items]
Face amount	$ 100,000,000
Proceeds from issuance of debt	100,000,000
Subsequent Event \| Senior Notes \| 6.89% Series 2024 Senior Notes, Tranche A
Subsequent Event [Line Items]
Face amount	60,000,000
Proceeds from issuance of debt	60,000,000
Debt instrument, interest rate, stated percentage		6.89%
Subsequent Event \| Senior Notes \| 7.02% Series 2024 Senior Notes, Tranche B
Subsequent Event [Line Items]
Face amount	40,000,000
Proceeds from issuance of debt	40,000,000
Debt instrument, interest rate, stated percentage		7.02%
Subsequent Event \| Convertible Debt \| Convertible Senior Notes Repurchases
Subsequent Event [Line Items]
Debt instrument, repurchased face amount	$ 86,401,000