0000950170-23-003801 | 10-K | XBRL Viewer

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Document and Entity Information - USD ($) $ in Millions	12 Months Ended
Document and Entity Information - USD ($) $ in Millions	Dec. 31, 2022	Jan. 31, 2023	Jun. 30, 2022
Document Information [Line Items]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Entity Registrant Name	IMAX Corporation
Entity Central Index Key	0000921582
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Interactive Data Current	Yes
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Well-known Seasoned Issuer	Yes
Entity Public Float			$ 781.2
Entity Common Stock, Shares Outstanding		53,969,868
Entity Shell Company	false
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Title of 12(b) Security	Common Shares, no par value
Trading Symbol	IMAX
Security Exchange Name	NYSE
Entity File Number	001-35066
Entity Incorporation, State or Country Code	Z4
Entity Tax Identification Number	98-0140269
Entity Address, Address Line One	2525 Speakman Drive
Entity Address, City or Town	Mississauga
Entity Address, State or Province	ON
Entity Address, Country	CA
Entity Address, Postal Zip Code	L5K 1B1
City Area Code	(905)
Local Phone Number	403-6500
Document Annual Report	true
Document Transition Report	false
Auditor Firm ID	271
Auditor Name	PricewaterhouseCoopers LLP
Auditor Location	Toronto, Canada
Documents Incorporated by Reference	Portions of the registrant’s definitive Proxy Statement to be filed within 120 days of the close of IMAX Corporation’s fiscal year ended December 31, 2022, with the Securities and Exchange Commission pursuant to Regulation 14A involving the election of directors and the annual meeting of the stockholders of the registrant (the “Proxy Statement”) are incorporated by reference in Part III of this Form 10-K to the extent described therein.
Other Address [Member]
Document Information [Line Items]
Entity Address, Address Line One	902 Broadway, Floor 20
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Country	US
Entity Address, Postal Zip Code	10010
City Area Code	(212)
Local Phone Number	821-0100

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Assets
Cash and cash equivalents	$ 97,401	$ 189,711
Accounts receivable, net of allowance for credit losses	136,142	110,050
Financing receivables, net of allowance for credit losses	129,384	141,049
Variable consideration receivables, net of allowance for credit losses	44,024	44,218
Inventories	31,534	26,924
Prepaid expenses	12,343	11,802
Film assets, net of accumulated amortization	5,277	4,241
Property, plant and equipment, net of accumulated depreciation	252,896	260,353
Investment in equity securities	1,035	1,087
Other assets	15,665	17,799
Deferred income tax assets, net of valuation allowance	9,900	13,906
Goodwill	52,815	39,027
Other intangible assets, net of accumulated amortization	32,738	23,080
Total assets	821,154	883,247
Liabilities
Accounts payable	25,237	15,943
Accrued and other liabilities	117,286	111,896
Deferred revenue	70,940	81,281
Revolving credit facility borrowings, net of unamortized debt issuance costs	36,111	2,472
Convertible notes and other borrowings, net of unamortized discounts and debt issuance costs	226,912	223,641
Deferred income tax liabilities	14,900	17,642
Total liabilities	491,386	452,875
Commitments, contingencies and guarantees (see Notes 16 and 17)
Non-controlling interests
Non-controlling interests	722	758
Shareholders' equity
Capital stock common shares - no par value. Authorized - unlimited number. 54,148,614 issued and outstanding (December 31, 2021 - 58,653,642 issued and outstanding)	376,715	409,979
Other equity	185,678	174,620
Statutory surplus reserve	3,932	3,932
Accumulated deficit	(293,124)	(234,975)
Accumulated other comprehensive (loss) income	(9,846)	2,527
Total shareholders' equity attributable to common shareholders	263,355	356,083
Non-controlling interests	65,691	73,531
Total shareholders' equity	329,046	429,614
Total liabilities and shareholders' equity	$ 821,154	$ 883,247

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2022	Dec. 31, 2021
Shareholders' equity
Common stock, par value
Common stock, shares issued	54,148,614	58,653,642
Common stock, shares outstanding	54,148,614	58,653,642

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Revenues
Revenues, total	$ 300,805	$ 254,883	$ 137,003
Costs and expenses applicable to revenues
Cost and expenses applicable to revenues, total	144,450	120,477	115,463
Gross margin	156,355	134,406	21,540
Selling, general and administrative expenses	138,043	117,322	108,485
Research and development	5,300	6,944	5,618
Amortization of intangible assets	4,829	4,877	5,394
Credit loss expense (reversal), net	8,547	(3,951)	18,608
Asset impairments	4,470		1,151
Legal judgment and arbitration awards	0	(1,770)	4,105
(Loss) income from operations	(4,834)	10,984	(121,821)
Realized and unrealized investment gains (losses)	70	5,340	(2,081)
Retirement benefits non-service expense	(556)	(463)	(600)
Interest income	1,428	2,218	2,388
Interest expense	(5,877)	(7,092)	(7,010)
(Loss) income before taxes	(9,769)	10,987	(129,124)
Income tax expense	(10,108)	(20,564)	(26,504)
Equity in losses of investees, net of tax	0	0	(1,858)
Net loss	(19,877)	(9,577)	(157,486)
Net (income) loss attributable to non-controlling interests	(2,923)	(12,752)	13,711
Net loss attributable to common shareholders	$ (22,800)	$ (22,329)	$ (143,775)
Net loss per share attributable to common shareholders - basic and diluted:
Net loss per share - basic	$ (0.40)	$ (0.38)	$ (2.43)
Net loss per share - diluted	$ (0.40)	$ (0.38)	$ (2.43)
Weighted average shares outstanding - basic	56,674	59,126	59,237
Weighted average shares outstanding - diluted	56,674	59,126	59,237
Technology Sales [Member]
Revenues
Revenues, total	$ 69,158	$ 66,153	$ 49,728
Costs and expenses applicable to revenues
Cost and expenses applicable to revenues, total	37,610	37,039	33,170
Image Enhancement and Maintenance Services [Member]
Revenues
Revenues, total	161,379	131,148	59,318
Costs and expenses applicable to revenues
Cost and expenses applicable to revenues, total	81,834	58,062	53,598
Technology Rentals [Member]
Revenues
Revenues, total	61,786	46,790	17,841
Costs and expenses applicable to revenues
Cost and expenses applicable to revenues, total	25,006	25,376	28,695
Finance Income [Member]
Revenues
Revenues, total	$ 8,482	$ 10,792	$ 10,116

Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Statement of Comprehensive Income [Abstract]
Net loss	$ (19,877)	$ (9,577)	$ (157,486)
Other comprehensive (loss) income, before tax
Unrealized defined benefit plan actuarial gain (loss)	2,901	132	(897)
Unrealized postretirement benefit plans actuarial gain (loss)	754	140	(351)
Amortization of prior service cost	184	185	87
Unrealized net (loss) gain from cash flow hedging instruments	(1,323)	468	500
Realized net loss (gain) from cash flow hedging instruments	596	(1,707)	604
Reclassification of unrealized gain from ineffective cash flow hedging instruments		(318)
Foreign currency translation adjustments	(20,594)	3,364	5,992
Total other comprehensive (loss) income, before tax	(17,482)	2,264	5,935
Income tax (expense) benefit related to other comprehensive income	(818)	286	55
Other comprehensive (loss) income, net of tax	(18,300)	2,550	5,990
Comprehensive loss	(38,177)	(7,027)	(151,496)
Comprehensive loss (income) attributable to non-controlling interests	3,004	(13,763)	11,899
Comprehensive loss attributable to common shareholders	$ (35,173)	$ (20,790)	$ (139,597)

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Operating Activities
Net loss	$ (19,877)	$ (9,577)	$ (157,486)
Adjustments to reconcile net loss to cash provided by (used in) operating activities:
Depreciation and amortization	56,661	56,082	52,704
Amortization of deferred financing costs	3,177	2,513	902
Credit loss expense (reversal), net	8,547	(3,951)	18,608
Write-downs, including asset impairments	7,176	1,764	17,729
Deferred income tax (benefit) expense	(2,073)	2,996	23,618
Share-based and other non-cash compensation	27,573	26,079	22,038
Unrealized foreign currency exchange loss (gain)	1,108	256	(1,355)
Realized and unrealized investment (gains) losses	(70)	(5,340)	2,081
Equity in losses of investees	0	0	1,858
Changes in assets and liabilities:
Accounts receivable	(29,003)	(52,453)	33,597
Inventories	(5,529)	11,451	1,637
Film assets	(19,598)	(14,810)	(7,665)
Deferred revenue	(11,572)	(6,591)	(6,637)
Changes in other operating assets and liabilities	801	(2,354)	(24,640)
Net cash provided by (used in) operating activities	17,321	6,065	(23,011)
Investing Activities
Acquisition of SSIMWAVE Inc., net of cash and cash equivalents acquired	(15,939)
Purchase of property, plant and equipment	(8,424)	(3,590)	(697)
Investment in equipment for joint revenue sharing arrangements	(19,803)	(10,094)	(6,654)
Interest in film classified as a financial instrument	(4,731)
Acquisition of other intangible assets	(4,394)	(4,092)	(1,904)
Proceeds from sale of equity securities		17,769
Net cash used in investing activities	(53,291)	(7)	(9,255)
Financing Activities
Proceeds from issuance of convertible notes, net		223,675
Debt issuance costs related to convertible notes		(1,161)
Purchase of capped calls related to convertible notes		(19,067)
Revolving credit facility borrowings	37,871	3,600	287,610
Repayments of revolving credit facility borrowings	(3,600)	(307,609)
Credit facility amendment fees paid	(2,279)	(527)	(1,073)
Treasury stock purchased for future settlement of restricted share units			(3,086)
Taxes withheld and paid on employee stock awards vested	(3,687)	(3,660)	(512)
Common shares issued - stock options exercised		883
Principal payment under finance lease obligations	(948)
Dividends paid to non-controlling interests	(2,704)	(4,889)	(4,214)
Net cash (used in) provided by financing activities	(58,514)	(132,720)	240,567
Effects of exchange rate changes on cash	2,174	(1,006)	(406)
(Decrease) increase in cash and cash equivalents during year	(92,310)	(127,668)	207,895
Cash and cash equivalents, beginning of year	189,711	317,379	109,484
Cash and cash equivalents, end of year	97,401	189,711	317,379
IMAX Corporation
Financing Activities
Repurchase of common shares	(80,124)	(13,905)	(36,624)
IMAX China
Financing Activities
Repurchase of common shares	$ (3,043)	$ (10,060)	$ (1,534)

Consolidated Statements of Shareholder's Equity - USD ($) $ in Thousands	Total	Capital Stock [Member]	Other Equity [Member]	Statutory Surplus Reserve [Member]	Accumulated Deficit [Member]	Accumulated Other Comprehensive (Loss) Income [Member]	Non-controlling Interests [Member]	Common Shares Issued and Outstanding [Member]
Balance, beginning of year at Dec. 31, 2019		$ 419,348	$ 180,225		$ (40,253)	$ (3,190)
Movement of Shareholders' Equity
Amortization of share-based payment expense - stock options			2,426
Amortization of share-based payment expense - restricted share units			13,532
Amortization of share-based payment expense - performance stock units			2,708
Change in shares held in treasury		4,027
Restricted share units vested		1,448	(9,370)
Change in ownership interest related to IMAX China common share repurchases			(676)				$ (858)
Common shares repurchased and retired		(17,803)			(18,821)
Net income (loss) attributable to common shareholders	$ (143,775)				(143,775)
Net income (loss) attributable to non-controlling interests	(13,711)						(8,572)
Other comprehensive (loss) income, net of tax	5,990					4,178
Other comprehensive (loss) income, net of tax							1,812
Share-based compensation attributable to non-controlling interests							779
Dividends paid to non-controlling shareholders							(4,214)
Shares held in treasury								(723)
Balance, end of year at Dec. 31, 2020		407,020	188,845		(202,849)	988
Balance, beginning of year at Dec. 31, 2019							81,057
Balance, end of year at Dec. 31, 2020							70,004
Common shares issued and outstanding, Balance, beginning of year at Dec. 31, 2019								61,175,852
Movement of Shareholders' Equity
Restricted share units and stock option exercises settled from treasury shares purchased on open market								187,020
Restricted share units settled with new treasury shares								42,982
Repurchase of common shares								(2,484,123)
Common shares issued and outstanding, Balance, end of year at Dec. 31, 2020								58,921,008
Movement of Shareholders' Equity
Total shareholders' equity	464,008
Amortization of share-based payment expense - stock options			1,267
Amortization of share-based payment expense - restricted share units			17,116
Amortization of share-based payment expense - performance stock units			5,733
Change in shares held in treasury		11
Restricted share units vested		9,833	(14,740)
Employee stock options exercised, net of shares withheld for employee tax obligations		883
Grant date fair value of stock options exercised		271	(271)
Change in ownership interest related to IMAX China common share repurchases			(4,263)				(5,797)
Purchase of capped calls related to convertible notes			(19,067)
Common shares repurchased and retired		(8,039)			(5,865)
Net income (loss) attributable to common shareholders	(22,329)				(22,329)
Net income (loss) attributable to non-controlling interests	12,752						12,753
Other comprehensive (loss) income, net of tax	2,550					1,539
Other comprehensive (loss) income, net of tax							1,011
Share-based compensation attributable to non-controlling interests							449
Establishment of statutory surplus reserve, IMAX China				$ 3,932			1,699
Statutory surplus reserve deducted from retained earnings, IMAX China					(3,932)
Dividends paid to non-controlling shareholders							(4,889)
Balance, end of year at Dec. 31, 2021	356,083	409,979	174,620	3,932	(234,975)	2,527
Movement of Shareholders' Equity
Statutory surplus reserve deducted from IMAX China retained earnings							(1,699)
Balance, end of year at Dec. 31, 2021	$ 73,531						73,531
Movement of Shareholders' Equity
Employee stock options exercised								41,613
Restricted share units and stock option exercises settled from treasury shares purchased on open market								723
Restricted share units settled with new treasury shares								531,629
Repurchase of common shares								(841,331)
Common shares issued and outstanding, Balance, end of year at Dec. 31, 2021	58,653,642							58,653,642
Movement of Shareholders' Equity
Total shareholders' equity	$ 429,614
Amortization of share-based payment expense - stock options			637
Amortization of share-based payment expense - restricted share units			18,952
Amortization of share-based payment expense - performance stock units			8,495
Restricted share units vested		11,597	(16,441)
Issuance of common shares in acquisition		1,947						$ 160,547
Change in ownership interest related to IMAX China common share repurchases			(585)				(2,458)
Common shares repurchased and retired		(46,808)			(35,349)
Net income (loss) attributable to common shareholders	(22,800)				(22,800)
Net income (loss) attributable to non-controlling interests	2,923						2,959
Other comprehensive (loss) income, net of tax	(18,300)					(12,373)
Other comprehensive (loss) income, net of tax							(5,927)
Share-based compensation attributable to non-controlling interests							290
Dividends paid to non-controlling shareholders							(2,704)
Balance, end of year at Dec. 31, 2022	263,355	$ 376,715	$ 185,678	$ 3,932	$ (293,124)	$ (9,846)
Balance, end of year at Dec. 31, 2022	$ 65,691						$ 65,691
Movement of Shareholders' Equity
Restricted share units settled with new treasury shares								596,277
Repurchase of common shares								(5,261,852)
Common shares issued and outstanding, Balance, end of year at Dec. 31, 2022	54,148,614							54,148,614
Movement of Shareholders' Equity
Total shareholders' equity	$ 329,046

Description of the Business

12 Months Ended

Dec. 31, 2022

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Description of the Business

1. Description of the Business

IMAX Corporation, together with its consolidated subsidiaries (the “Company”, or “IMAX”) is a Canadian corporation that was formed in March 1994 as a result of an amalgamation between WGIM Acquisition Corp. and the former IMAX Corporation (“Predecessor IMAX”). Predecessor IMAX was incorporated in 1967. As of December 31, 2022, IMAX Corporation indirectly owns 71.73% of IMAX China Holding, Inc. (“IMAX China”), whose shares trade on the Hong Kong Stock Exchange. IMAX China is a consolidated subsidiary of the Company.

IMAX is a premier global technology platform for entertainment and events. Through its proprietary software, theater architecture, patented intellectual property, and specialized equipment, IMAX offers a unique end-to-end solution to create superior, immersive content experiences for which the IMAX® brand is globally renowned. Top filmmakers, movie studios, artists, and creators utilize the cutting-edge visual and sound technology of IMAX to connect with audiences in innovative ways. As a result, IMAX is among the most important and successful global distribution platforms for domestic and international tentpole films and, increasingly, exclusive experiences ranging from live performances to interactive events with leading artists and creators.

The Company leverages its proprietary technology and engineering in all aspects of its business, which principally consists of the digital remastering of films and other content into the IMAX format (“IMAX DMR”®) and the sale or lease of premium IMAX theater systems (“IMAX System(s)”).

IMAX Systems are based on proprietary and patented image, audio and other technology developed over the course of the Company’s history since its founding in 1967. The customers for IMAX Systems are principally theater exhibitors that operate commercial multiplex theaters, and, to a much lesser extent, museums, science centers and destination entertainment sites. The Company generally does not own the locations in the IMAX network, and is not an exhibitor, but instead sells or leases the IMAX System to exhibitor customers along with a license to use its trademarks and ongoing maintenance services.

As of December 31, 2022, there were 1,716 IMAX Systems operating in 87 countries and territories, including 1,633 commercial multiplexes, 12 commercial destinations and 71 institutional locations in the Company's global network. This compares to 1,683 IMAX Systems operating in 87 countries and territories as of December 31, 2021 including 1,599 commercial multiplexes, 12 commercial destinations, and 72 institutional locations in the Company's global network.

The Company also distributes large-format documentary films, primarily to institutional theaters, and distributes exclusive experiences ranging from live performances to interactive events with leading artists and creators. In addition, the Company provides film post-production and quality control services for large-format films, whether produced by IMAX or third parties, and digital post-production services.

The Company has the following reportable segments: (i) IMAX DMR; (ii) Joint Revenue Sharing Arrangements (“JRSA”); (iii) IMAX Systems, (iv) IMAX Maintenance; (v) Other Theater Business; (vi) Film Distribution; and (vii) Film Post-Production, which are described in Note 22.

Impact of COVID-19 Pandemic

12 Months Ended

Dec. 31, 2022

Impact Of Coronavirus Nineteen Pandemic [Abstract]

Impact of COVID-19 Pandemic

2. Impact of COVID-19 Pandemic

The COVID-19 pandemic and the measures to prevent its spread have impacted the Company’s business and the global economy. Capacity restrictions and safety protocols were lifted then reinstituted at various points since the third quarter of 2020. Although normal operations have resumed in most key markets and movie theaters throughout the IMAX network, the Company’s business continues to experience impact from COVID-19. For example, following the emergence of the Omicron variant and the rise of COVID-19 cases in China in the first quarter of 2022, the Chinese government reinstituted capacity restrictions and safety protocols on large public gatherings and enforced a zero-COVID policy, which led to the temporary lock-down of various cities and the temporary closure of theaters in these cities. At the end of 2022, the Chinese government relaxed its zero-COVID policies and significantly eased capacity restrictions. As of December 31, 2022, approximately 97% of the IMAX network in Greater China was open at various capacities.

The impact of the COVID-19 pandemic on the Company's business and financial results will continue to depend on numerous evolving factors that cannot be accurately predicted and that will vary by jurisdiction and market.

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2022

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Summary of Significant Accounting Policies

3. Summary of Significant Accounting Policies

The Company prepares its Consolidated Financial Statements in accordance with United States Generally Accepted Accounting Principles (“U.S. GAAP”) and pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). The significant accounting policies used by the Company are summarized below.

(a)

Principles of Consolidation

The Consolidated Financial Statements include the accounts of the Company together with its consolidated subsidiaries, except for subsidiaries which have been identified as variable interest entities (“VIEs”) where the Company is not the primary beneficiary. All intercompany accounts and transactions have been eliminated. The Company has evaluated its various variable interests to determine whether they are VIEs as required by U.S. GAAP.

The Company has interests in ten film production companies, which have been identified as VIEs. The Company is the primary beneficiary of and consolidates five of these entities as it has the power to direct the activities that most significantly impact the economic performance of the VIE, and it has the obligation to absorb losses or the right to receive benefits from the respective VIE that could potentially be significant. The majority of the assets relating to these production companies are held by the IMAX Original Film Fund (the “Original Film Fund”) as described in Note 26(b). The Company does not consolidate the other five film production companies because it does not have the power to direct their activities and it does not have the obligation to absorb the majority of the expected losses or the right to receive expected residual returns. The Company uses the equity method of accounting for these entities, which are not material to the Company’s Consolidated Financial Statements. A loss in value of an equity method investment that is other than temporary is recognized as a charge in the Consolidated Statements of Operations.

As of December 31, 2022 and 2021, total assets and liabilities of the Company's consolidated VIEs are as follows:


	December 31,		December 31,
(In thousands of U.S. Dollars)	2022		2021
Total assets	$	1,523	$	1,576
Total liabilities	$	248	$	259

(b)

Estimates and Assumptions

The preparation of financial statements and related disclosures in accordance with U.S. GAAP requires management to make judgments, assumptions, and estimates that affect the amounts reported in the Company’s Consolidated Financial Statements and accompanying notes. Management’s judgments, assumptions, and estimates are based on historical experience, future expectations and other factors that are believed to be reasonable as of the date of the Consolidated Financial Statements. Actual results may ultimately differ from management’s original estimates, as future events and circumstances sometimes do not develop as expected, and the differences may be material.

Significant estimates made by management include, but are not limited to: (i) the allocation of the transaction price in an IMAX System arrangement to distinct performance obligations; (ii) the amount of variable consideration to be earned on sales of IMAX Systems based on projections of future box office performance; (iii) expected credit losses on accounts receivable, financing receivables, and variable consideration receivables; (iv) provisions for the write-down of excess and obsolete inventory; (v) the fair values of the reporting units used in assessing the recoverability of goodwill; (vi) the cash flow projections used in testing the recoverability of long-lived assets such as the theater system equipment supporting joint revenue sharing arrangements; (vii) the economic lives of the theater system equipment supporting joint revenue sharing arrangements; (viii) the useful lives of intangible assets; (ix) the ultimate revenue forecasts used to test the recoverability of film assets; (x) the discount rates used to determine the present value of financing receivables and lease liabilities, as well as to determine the fair values of the Company’s reporting units for the purpose of assessing the recoverability of goodwill; (xi) pension plan assumptions; (xii) estimates related to the fair value and projected vesting of share-based payment awards; (xiii) the valuation of deferred income tax assets; (xiv) reserves related to uncertain tax positions; and (xv) the allocation of the purchase price for the acquisition of SSIMWAVE Inc. and its wholly-owned subsidiary (together, “SSIMWAVE”).

The COVID-19 pandemic and the measures to prevent its spread have impacted the Company’s business and the global economy, as described in Note 2. Although management is encouraged by the broad reopening of the IMAX network, the continued progress towards the resumption of normal theater operations, normal film release schedules, and recent box office results, there continues to be risk and uncertainty relating to the judgments, assumptions, and estimates used by management in preparing the Company's Consolidated Financial Statements.

Commencing in March 2022, in response to numerous sanctions imposed by the United States, Canada and the European Union on companies transacting in Russia and Belarus resulting from ongoing conflict between Russia and Ukraine, the Company suspended its operations in Russia and Belarus. As of December 31, 2022, the IMAX network includes 54 systems in Russia, eight systems in Ukraine, and one system in Belarus, and the Company's backlog includes 14 systems in Russia, one system in Ukraine, and five systems in Belarus with a total fixed contracted value of $22.9 million. In the first quarter of 2022, the Company recorded provisions for potential credit losses against substantially all of its receivables in Russia due to uncertainties associated with the ongoing conflict and resulting sanctions. These receivables relate to existing sale agreements as the Company is not party to any joint revenue sharing arrangements in these countries. In addition, beginning in the first quarter of 2022, exhibitors in Russia, Ukraine, and Belarus were placed on nonaccrual status for maintenance revenue and finance income. Most multiplexes in Ukraine have reopened since the conflict began and the Company remains optimistic that its full network in Ukraine will ultimately resume operations. The Company continues to closely monitor the evolving impacts of this conflict (including the sanctions imposed by the United States, Canada and the European Union) and its effects on the global economy and the Company. (See Note 6 for more information on the impact of the ongoing Russia-Ukraine conflict and resulting sanctions on the Company's receivables and current expected credit losses.)

On September 7, 2022, Cineworld Group plc (“Cineworld”), the parent company of Regal, and certain of its subsidiaries and Regal CineMedia Holdings, LLC, filed petitions for reorganization under Chapter 11 of the United States Bankruptcy Code in the Southern District of Texas. The Company had an unsecured pre-petition claim of $11.4 million related to receivables from the entities included in the reorganization proceedings. On October 21, 2022, the Company was ratified by the bankruptcy court as a critical vendor of Cineworld, allowing the Company to collect pre-petition amounts owed to it by Cineworld, and requiring Cineworld to stay current on the Company’s post-petition receivables. On November 8, 2022, IMAX Corporation entered into a trade agreement with Cineworld (the “Trade Agreement”), pursuant to which Cineworld affirmed the amount of the receivables owed to the Company and agreed to a payment plan under which all amounts due will be settled over the period from November 9, 2022 to April 12, 2023. As of February 20, 2023, the Company had received payments of $7.2 million from Cineworld in accordance with the terms of the Trade Agreement. Based on its evaluation of its contracts with Cineworld, its assessment of the reorganization and its discussions with Cineworld to date, the Company has determined that no additional provision for expected credit losses is required. The Company also does not expect to see a material impact on its IMAX network with Cineworld resulting from this reorganization. There can, however, be no guarantees as to the ultimate outcome of a Chapter 11 proceeding.

(c)

Cash and Cash Equivalents

The Company considers all highly liquid investments convertible to a known amount of cash and with an original maturity of three months or less to be cash equivalents.

(d)

Receivables

The Company develops an estimate of expected credit losses by class of receivable and customer type through a calculation that utilizes historical loss rates which are then adjusted for specific receivables that are judged to have a higher-than-normal risk profile after considering management’s internal credit quality classifications, as well as macro-economic and industry risk factors. The write-off of any billed receivable balance requires the approval of management.

(See Note 6 for more information related to the Company’s receivables and current expected credit losses.)

(e)

Inventories

Inventories are carried at the lower of cost, determined on an average cost basis, and net realizable value except for raw materials, which are carried at the lower of cost and replacement cost. Finished goods and work-in-process includes the cost of raw materials, direct labor, theater design costs, and an applicable share of manufacturing overhead costs.

The costs related to IMAX Systems under sale and sales-type lease arrangements are transferred from Inventories to Costs and Expenses Applicable to Revenues – Technology Sales in the period when the sale is recognized in the Consolidated Statements of Operations. The costs related to IMAX Systems under joint revenue sharing arrangements are transferred from Inventories to assets under construction in Property, Plant and Equipment when allocated to a signed joint revenue sharing arrangement.

The Company records write-downs for excess and obsolete inventory based upon management’s judgments regarding future events and business conditions, including the anticipated installation dates for the current backlog of theater system contracts, contracts in negotiation, technological developments, growth prospects within the customers’ ultimate marketplace and anticipated market acceptance of the Company’s current and pending theater IMAX Systems.

Finished goods inventories includes IMAX Systems for which title has passed to the Company’s customer in situations when the IMAX System has been delivered to the customer, but the criteria for revenue recognition were not met as of the balance sheet date.

(f)

Film Assets

Film Assets consist of: (i) capitalized costs associated with the digital remastering of films where the copyright is owned by a third party, including labor and allocated overhead, and (ii) capitalized costs associated with the production of films, including labor, allocated overhead, and the cost of acquiring film rights. Production financing provided by third parties that acquire substantive rights in the film is recorded as a reduction of the cost of the film.

Capitalized film costs are amortized and participation costs are accrued to Costs and Expenses Applicable to Revenues using the individual-film-forecast method, which amortizes such costs in the same ratio as the associated ultimate revenue. Estimates of ultimate revenues are prepared on a title-by-title basis and reviewed regularly by management and revised where necessary to reflect the most current information. Ultimate revenues reflect management’s estimates of future revenue over a period not to exceed ten years following the date of the film’s initial release.

The recoverability of the Company’s film assets is dependent upon the commercial acceptance of the underlying films and the resulting level of box office results and, in certain situations, ancillary revenues. If management’s projections of future net cash flows resulting from the exploitation of a film indicate that the carrying value of the film asset is not recoverable, the film asset is written down to its fair value.

Film exploitation costs, including advertising and marketing, are recorded in Costs and Expenses Applicable to Revenues – Image Enhancement and Maintenance Services as incurred, except for those costs that are made after recognizing revenue, which are recorded when the related revenues are recognized.

(g)

Property, Plant and Equipment

Property, Plant and Equipment is recorded at cost and is depreciated on a straight-line basis over the estimated useful lives of the underlying assets as follows:


Theater system components(1)	—	Over the equipment’s expected useful life (7 to 20 years)
Camera equipment	—	Over a period between 5 to 10 years
Buildings	—	Over a period between 20 to 25 years
Office and product equipment	—	Over a period between 3 to 5 years
Leasehold improvements	—	Over the shorter of the initial term of the underlying lease plus any reasonably assured renewal
		periods, and the useful life of the asset

(1)

Includes equipment under joint revenue sharing arrangements.

The cost of IMAX System components and related equipment expected to be used in future joint revenue sharing arrangements, including related direct labor costs and an allocation of direct production costs, are recorded within assets under construction until the underlying IMAX System is installed and in working condition. These assets are depreciated to Costs and Expenses Applicable to Revenues on a straight-line basis over the lesser of the term of the joint revenue sharing arrangement and the equipment’s expected useful life. The estimated useful lives of the system components and related equipment used in joint revenue sharing arrangements are reviewed periodically to determine if any adjustments are required.

Property, Plant and Equipment is grouped at the lowest level for which identifiable cash flows are largely independent and reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the asset (or asset group) may not be recoverable. In such situations, the asset (or asset group) is considered impaired when estimated future cash flows (undiscounted and without interest charges) resulting from the use of the asset (or asset group) and its eventual disposition are less than the carrying value of the asset (or asset group). In such situations, the asset (or asset group) is written down to its fair value, which is the present value of the estimated future cash flows. Factors that are considered when evaluating such assets for impairment include a current expectation that it is more likely than not that the long-lived asset will be sold significantly before the end of its useful life, a significant decrease in the market price of the long-lived asset, and a significant change in the extent or manner in which the long-lived asset is being used.

(h)

Investment in Equity Securities

Equity securities with readily determinable fair values are reported at fair value with changes in fair value recorded within Realized and Unrealized Investment Gains (Losses) in the Consolidated Statements of Operations.

(i)

Other Assets

Other Assets principally includes lease incentives provided to certain exhibitor customers under joint revenue sharing arrangements classified as an operating lease, as well as sales commissions and other deferred selling expenses that directly relate to the acquisition of the revenue generating contract and are incremental to the Company’s other expenses. To a much lesser extent, Other Assets also includes various investments and foreign currency derivatives.

Capitalized lease incentives are amortized on a straight-line basis over the term of the lease as a reduction to rental revenue. Sales commissions and other selling expenses paid prior to the recognition of the related revenue are deferred and recognized within Costs and Expenses Applicable to Revenues upon the client acceptance of the IMAX System or the abandonment of the sale arrangement. Foreign currency derivatives are accounted for at fair value using quoted prices in active markets.

In periods when there are no outstanding borrowings under the Company’s revolving credit facility arrangements, any related debt issuance costs are recorded within Other Assets and amortized on a straight-line basis over the term of the facility. In periods when there are outstanding borrowings under the Company’s revolving credit facility arrangements, any related debt issuance costs are reclassified to reduce the principal amount of outstanding borrowings and amortized on a straight-line basis over the term of the facility. (See Note 15 for information related to the Company’s borrowings.)

(j)

Goodwill

Goodwill represents the excess of the purchase price paid over the fair value of net assets acquired in a business combination. Goodwill is not amortized, but is tested annually for impairment at the reporting unit level in the fourth quarter of the year and between annual tests if indicators of potential impairment exist. These indicators could include a decline in the Company’s stock price and market capitalization, a significant change in the outlook for the reporting unit's business, including projections of future box office results and IMAX System installations, lower than expected operating results, increased competition, legal factors, or the sale or disposition of a significant portion of a reporting unit. For reporting units with goodwill, an impairment loss is recognized for the amount by which the reporting unit's carrying value, including goodwill, exceeds its fair value. The carrying value of each reporting unit is based on a systematic and rational allocation of certain assets and liabilities. The fair value of each reporting unit is assessed using a discounted cash flow model based on management’s current short-term forecast and estimated long-term projections, against which various sensitivity analyses are performed. The discount rates used in the cash flow model are derived based on the Company’s estimated weighted average cost of capital. These estimates and the likelihood of future changes in these estimates depend on a number of underlying variables and a range of possible outcomes.

(k)

Other Intangible Assets

Other intangible assets with finite lives are generally amortized on a straight-line basis over estimated useful lives ranging from 4 to 20 years, except for intangible assets that have an identifiable pattern of consumption of the economic benefit of the asset. Such intangible assets are amortized over the consumption pattern.

Research and development acquired in a business combination is measured at fair value using market-participant assumptions and is initially classified as an indefinite-lived intangible asset. The in-process intangible research and development (IPR&D) assets are considered indefinite-lived until the abandonment or completion of the associated research and development efforts. If the acquired IPR&D project is abandoned, the related intangible would be written off or impaired. Once the IPR&D activities are completed, management would determine the useful lives and the methods of amortization of the related intangible assets.

The Company capitalizes costs associated with internally developed and/or purchased software systems for internal use that have reached the application development stage. Capitalized costs include external direct costs of materials and services utilized in developing or obtaining internal-use software and payroll and payroll-related expenses for employees who are directly associated with and devote time to the internal-use software project. Capitalization of such costs begins when the preliminary project stage is complete and ceases no later than the point at which the project is substantially complete and ready for its intended purpose. Costs incurred during the preliminary project and post-implementation stages are charged to expense. These capitalized costs are amortized on a straight-line basis over the estimated useful life.

Intangible Assets are grouped at the lowest level for which identifiable cash flows are largely independent and reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the asset (or asset group) may not be recoverable. In such situations, the asset (or asset group) is considered impaired when estimated future cash flows (undiscounted and without interest charges) resulting from the use of the asset (or asset group) and its eventual disposition are less than the carrying value of the asset (or asset group). In such situations, the asset (or asset group) is written down to its fair value, which is the present value of the estimated future cash flows. Factors that are considered when evaluating intangible assets for impairment include a current expectation that it is more likely than not that the intangible asset will be sold significantly before the end of its useful life, a significant decrease in the market price of the intangible asset, and a significant change in the extent or manner in which the intangible asset is being used.

(l)

Deferred Revenue

In instances where the Company receives consideration prior to satisfying its performance obligations, the recognition of revenue is deferred. The majority of the Deferred Revenue balance relates to payments received by the Company for IMAX Systems where control of the system has not transferred to the customer. The Deferred Revenue balance related to an individual location increases as progress payments are made and is then derecognized when control of the system is transferred to the customer. To a lesser extent, the Deferred Revenue balance also relates to situations when an exhibitor customer pays the contractual maintenance fee prior to the recognition of revenue.

(m)

Statutory Surplus Reserve

Pursuant to the corporate law of the People’s Republic of China (the “PRC”), entities registered in the PRC are required to maintain certain statutory reserves, which are appropriated from after-tax profits, after offsetting accumulated losses from prior years, before dividends can be declared or paid to equity holders.

The Company’s PRC subsidiaries are required to appropriate 10% of statutory net profits to statutory surplus reserves, upon distribution of their after-tax profits. The Company’s PRC subsidiaries may discontinue the appropriation of statutory surplus reserves when the aggregate sum of the statutory surplus reserve is more than 50% of their registered capital. The statutory surplus reserve is non-distributable other than during liquidation and may only be used to fund losses from prior years, to expand production operations, or to increase the capital of the subsidiaries. In addition, the subsidiaries may make further contribution to a discretionary surplus reserve using post-tax profits in accordance with resolutions of the Board of Directors.

(n)

Income Taxes

Income taxes are accounted for under the liability method whereby deferred income tax assets and liabilities are recognized for the expected future tax consequences of temporary differences between the accounting and tax bases of assets and liabilities. Deferred income tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which temporary differences are expected to be recovered or settled. The effect on deferred income tax assets and liabilities of a change in tax rates or laws is recognized in the Company’s Consolidated Financial Statements in the period in which the change is enacted. Investment tax credits are recognized as a reduction of income tax expense.

The Company assesses the realization of deferred income tax assets and based on all available evidence, concludes whether it is more likely than not that the net deferred income tax assets will be realized. A valuation allowance is provided for the amount of deferred income tax assets not considered to be realizable in the current period. In assessing the need for a valuation allowance, management considers, among other things, projections of future taxable income and ongoing prudent and feasible tax planning strategies. If management determines that sufficient negative evidence exists, then management will consider recording a valuation allowance against a portion or all of the deferred tax assets in that jurisdiction. If, after recording a valuation allowance, management’s projections of future taxable income and other positive evidence considered in evaluating the need for a valuation allowance prove, with the benefit of hindsight, to be inaccurate, it could prove more difficult to support the realization of these deferred tax assets. As a result, an additional valuation allowance could be required, which would have an adverse impact on the Company’s effective income tax rate and results. Conversely, if, after recording a valuation allowance, management determines that sufficient positive evidence exists in the jurisdiction in which a valuation allowance is recorded, the Company may reverse all or a portion of the valuation allowance in that jurisdiction. In such situations, the adjustment made to the deferred tax asset would have a favorable impact on the Company’s effective income tax rate and results in the period such determination was made.

The Company is subject to ongoing tax exposures, examinations and assessments in various jurisdictions. Tax benefits are recognized only when it is more likely than not, based on the technical merits, that the benefits will be sustained on examination. Tax benefits that meet the more likely than not recognition threshold are measured using a probability weighting of the largest amount of tax benefit that has greater than 50% likelihood of being realized upon settlement. Whether the more likely than not recognition threshold is met for a particular tax benefit is a matter of judgment based on the individual facts and circumstances evaluated in light of all available evidence as of the balance sheet date. Although management believes that the Company has adequately accounted for its uncertain tax positions, tax audits can result in subsequent assessments where the ultimate resolution may result in the Company owing additional taxes above what was originally recognized in its financial statements.

Tax reserves for uncertain tax positions are adjusted by the Company to reflect its best estimate of the outcome of examinations and assessments and in light of changing facts and circumstances, such as the completion of a tax audit, expiration of a statute of limitations, the refinement of an estimate, and interest accruals associated with the uncertain tax positions until they are resolved. Some of these adjustments require significant judgment in estimating the timing and amount of the additional tax expense.

(o)

Revenue Recognition

IMAX Systems

The Company evaluates each of the performance obligations in an IMAX System arrangement to determine which are considered distinct, either individually or in a group, for accounting purposes and which of the deliverables represent separate performance obligations.

The Company’s “System Obligation” consists of the following: (i) an IMAX System, which includes the projector, sound system, screen system and, if applicable, a 3D glasses cleaning machine; (ii) services associated with the IMAX System, including theater design support, the supervision of installation services, and projectionist training; and (iii) a license to use the IMAX brand to market the theater. The System Obligation, as a group, is a distinct performance obligation. The Company is not responsible for the physical installation of the equipment in the customer’s facility; however, it supervises the installation by the customer. The customer has the right to use the IMAX brand from the date the Company and the customer enter into an arrangement.

IMAX System arrangements also include a requirement for the Company to provide maintenance services and an extended warranty over the life of the arrangement in exchange for an annual maintenance fee, which is subject to a consumer price index increase on renewal each year. Consideration related to the provision of maintenance services is included in the allocation of the transaction price to the separate performance obligations in the arrangement at contract inception, as discussed in more detail below. The Company’s maintenance services are a stand ready obligation and, as a result, are recognized on a straight-line basis over the contract term.

The transaction price in an IMAX System arrangement is allocated to each good or service that is identified as a separate performance obligation based on estimated standalone selling prices. This allocation is based on observable prices when the Company sells the goods or services separately. The Company has established standalone prices for the System Obligation and maintenance and extended warranty services, as well as for film license arrangements. The Company uses an adjusted market assessment approach for separate performance obligations that do not have standalone selling prices or third-party evidence of estimated standalone selling prices. The Company considers multiple factors including its historical pricing practices, product class, market competition and geography.

IMAX System arrangements involve either the lease or the sale of an IMAX System. The transaction price for the System Obligation, other than for IMAX Systems delivered pursuant to joint revenue sharing arrangements, consist of upfront or initial payments made before and after the final installation of the system and ongoing payments throughout the term of the arrangement. The Company estimates the transaction price, including an estimate of future variable consideration, received in exchange for the goods delivered or services rendered. The arrangement for the sale of an IMAX System includes indexed minimum payment increases over the term of the arrangement, as well as the potential for additional payments owed by the exhibitor customer if certain minimum box office receipt thresholds are exceeded. In addition, hybrid sales arrangements include amounts owed by the exhibitor customer based on a percentage of their box office receipts over the term of the arrangement. These contract provisions are considered to be variable consideration. An estimate of the present value of such variable consideration is recognized as revenue upon the transfer of control of the System Obligation to the customer, subject to constraints to ensure that there is not a risk of significant revenue reversal. This estimate is based on management’s box office projections for the individual location, which are developed using historical data for the location and, if necessary, comparable theaters and territories (see “Constraints on the Recognition of Variable Consideration” below). Transfer of control of the System Obligation occurs at the earlier of client acceptance of the installation of the IMAX System, including projectionist training, and the opening of the theater to the public, as discussed in more detail below.

IMAX System arrangements are non-cancellable unless the Company fails to perform its obligations. In the absence of a material default by the Company, there is no right to any remedy for the customer under the Company’s arrangements. If a material default by the Company exists, the customer has the right to terminate the arrangement and seek a refund only if the customer provides notice to the Company of a material default and only if the Company does not cure the default within a specified period.

Sales Arrangements

For IMAX System arrangements that qualify as a sale, the transaction price allocated to the System Obligation is recognized in the Consolidated Statements of Operations upon the transfer of control of the system to the customer, which is when all of the following conditions have been met: (i) the projector, sound system, and screen system have been installed and are in full working condition, (ii) the 3D glasses cleaning machine, if applicable, has been delivered, (iii) projectionist training has been completed, and (iv) the earlier of (a) the receipt of written customer acceptance certifying the completion of installation and run-in testing of the equipment and the completion of projectionist training or (b) the public opening of the IMAX System.

The initial revenue recognized in a sales arrangement consists of payments made before and in connection with the installation of the IMAX System and the present value of any future payments, including ongoing fixed minimum payments, which are subject to indexed increases over the term of the arrangement, and potential additional payments owed by the customer if certain minimum box office receipt thresholds are exceeded. In addition, hybrid sales arrangements include amounts owed by the customer based on a percentage of their box office receipts over the term of the arrangement. Potential payments based on the future box office receipts of the customer are considered to be variable consideration. An estimate of the present value of such variable consideration is recognized as revenue upon the transfer of control of the System Obligation to the customer, subject to constraints to ensure that there is not a risk of significant revenue reversal (see “Constraints on the Recognition of Variable Consideration” below).

The Company has also agreed, on occasion, to sell equipment under lease or at the end of a lease term. The transaction price agreed to for these lease buyouts is reflected in the Company’s Consolidated Statements of Operations within Revenues – Technology Sales.

Taxes assessed by governmental authorities that are both imposed on and concurrent with the specific revenue-producing transactions and collected by the Company have been excluded from the measurement of the transaction prices discussed above.

Constraints on the Recognition of Variable Consideration

The recognition of variable consideration involves a significant amount of judgment. Variable consideration is recognized subject to appropriate constraints to avoid a significant reversal of revenue in future periods. The Company reviews its variable consideration assets on at least a quarterly basis considering recent box office performance and, when applicable, updated box office projections for future periods. The relevant accounting guidance identifies the following examples of situations when constraining the amount of variable consideration is appropriate:

•

The amount of consideration is highly susceptible to factors outside the entity’s influence;

•

The uncertainty about the amount of consideration is not expected to be resolved for a long period of time;

•

The Company’s experience (or other evidence) with similar types of contracts is limited, or that experience has limited predictive value; and

•

The entity has a practice of either offering a broad range of price concessions or changing the payment terms and conditions of similar contracts in similar circumstances.

As discussed above, the Company’s significant streams of variable consideration relate to arrangements for the sale of IMAX Systems which include indexed minimum payment increases over the term of the arrangement, as well as the potential for additional payments owed by the customer if certain minimum box office receipt thresholds are exceeded. In addition, hybrid sales arrangements include variable consideration based on a percentage of the customer’s box office receipts over the term of the arrangement.

Variable consideration related to indexed minimum payment increases is outside of the Company’s control, but the movement in the rates is historically well documented and economic trends in inflation are easily accessible. For each contract subject to an indexed minimum payment increase, the Company estimates the most likely amount using published indices. The amount of the estimated minimum payment increase is then recorded at its present value as of the date of recognition using the customer’s implied borrowing rate.

Variable consideration related to the level of the customer’s box office receipts is outside of the Company’s control as it is dependent upon the future commercial success of the films released to the IMAX network. The estimated variable consideration initially recognized by the Company is based on management’s box office projections for the location, which are developed using historical box office data for that location and, if necessary, comparable locations and territories. Using this data, management applies its understanding of these exhibition markets to estimate the most likely amount of variable consideration to be earned over the term of the arrangement. Management then applies a constraint to this estimate by reducing the projection by a percentage factor for locations or markets with no or limited historical box office experience. In cases where direct historical experience can be observed, average historical box office results, eliminating significant outliers, is used. The resulting amount of variable consideration is then recorded at its present value as of the date of recognition using a risk-weighted discount rate.

Lease Arrangements

As a lessor, the Company provides IMAX Systems to customers through long-term lease arrangements. Under these arrangements, in exchange for providing the IMAX System, the Company earns fixed upfront and ongoing consideration. A lease arrangement that transfers substantially all of the benefits and risks incident to ownership of the IMAX System is classified as a sales-type lease; otherwise the lease is classified as an operating lease. Prior to commencement of the lease term, the Company may modify certain payment terms or make concessions. If these circumstances occur, the Company reassesses the classification of the lease based on the modified terms and conditions.

For sales-type leases, the revenue allocated to the System Obligation is recognized when the lease term commences, which the Company deems to be when all of the following conditions have been met: (i) the projector, sound system, and screen system have been installed and are in full working condition, (ii) the 3D glasses cleaning machine, if applicable, has been delivered, (iii) projectionist training has been completed, and (iv) the earlier of (a) the receipt of the written customer acceptance certifying the completion of installation and run-in testing of the equipment and the completion of projectionist training or (b) the public opening of the theater, provided collectability is reasonably assured.

The initial revenue recognized for sales-type leases consists of the initial payments received and the present value of future initial payments and fixed minimum ongoing payments computed at the interest rate implicit in the lease. Contingent payments in excess of the fixed minimum payments are recognized when reported by theater operators, provided collectability is reasonably assured.

For joint revenue sharing arrangements that are classified as operating leases, initial payments and fixed minimum ongoing payments are recognized as revenue on a straight-line basis over the lease term. For these leases, the lease term is considered to commence when all of the following conditions have been met: (i) the projector, sound system and screen system have been installed and are in full working condition; (ii) the 3D glasses cleaning machine, if applicable, has been delivered; (iii) projectionist training has been completed; and (iv) the earlier of (a) the receipt of written customer acceptance certifying the completion of installation and run-in testing of the equipment and the completion of projectionist training or (b) the public opening of the theater. Contingent payments in excess of fixed minimum ongoing payments are recognized as revenue when reported by theater operators, provided collectability is reasonably assured.

Finance Income

Finance Income is recognized over the term of the sales-type lease or financed sale receivable, provided collectability is reasonably assured. A theater operator that is classified within the “All Transactions Suspended” category under the Company’s internal credit quality guidelines is placed on nonaccrual status and Finance Income recognition related to the location is stopped. While the recognition of Finance Income is suspended, payments received from a customer are applied against the outstanding balance owed. If payments are sufficient to cover any unreserved receivables, a recovery of provision taken on the billed amount, if applicable, is recorded to the extent of the residual cash received. Once the collectability issues are resolved and the customer has returned to being in good standing, the Company will resume recognition of Finance Income.

Improvements and Modifications

Improvements and modifications to an IMAX System after installation are treated as a separate performance obligation, if and when the Company is requested to perform these services. Revenue is recognized for these services once they have been provided.

Costs and Expenses Applicable to Revenues – Technology Sales

Costs and Expenses Applicable to Revenues – Technology Sales relates to sale and sales-type leases of IMAX Systems and other equipment, and includes the cost of the equipment and costs related to project management, design, delivery and installation supervision services, as applicable. The costs related to IMAX Systems under sale and sales-type lease arrangements are transferred from Inventories to Costs and Expenses Applicable to Revenues in the period when the sale is recognized in the Consolidated Statements of Operations.

Sales commissions and other selling expenses that directly relate to the acquisition of the revenue generating contract and are incremental to the Company’s other expenses are deferred and recognized in the Consolidated Statements of Operations upon the client acceptance of the IMAX System. The Company may have warranty obligations at or after the time revenue is recognized which require the replacement of certain parts that do not affect the functionality of the theater system or services. The costs for warranty obligations for known issues are accrued as charges to Costs and Expenses Applicable to Revenues – Technology Sales at the time revenue is recognized based on the Company’s past historical experience and cost estimates.

Costs and Expenses Applicable to Revenues – Technology Rentals

Costs and Expenses Applicable to Revenues – Technology Rentals relates to joint revenue sharing arrangements classified as operating leases, and primarily includes the depreciation of IMAX System components and related equipment used in the joint revenue sharing arrangement. Impairment losses, if any, are also included in Costs and Expenses Applicable to Revenues – Technology Rentals. Sales commissions related to these arrangements are deferred and recognized as Costs and Expenses Applicable to Revenues – Technology Rentals in the month they are earned by the salesperson, which is typically the month of installation. Direct advertising and marketing costs for each location are charged to Costs and Expenses Applicable to Revenues – Technology Rentals as incurred.

Terminations, Consensual Buyouts and Concessions

The Company enters into IMAX System arrangements with customers that contain customer payment obligations prior to the scheduled installation of the IMAX System. During the period of time between signing and the installation of the IMAX System, which may extend several years, certain customers may be unable to, or may elect not to, proceed with the system installation for a number of reasons including business considerations, or the inability to obtain certain consents, approvals or financing. Once the determination is made that the customer will not proceed with installation, the arrangement may be terminated under the default provisions of the arrangement or by mutual agreement between the Company and the customer (a “consensual buyout”). Terminations by default are situations when a customer does not meet the payment obligations under an arrangement and the Company retains the amounts paid by the customer. Under a consensual buyout, the Company and the customer agree, in writing, to a settlement and to release each other of any further obligations under the arrangement or an arbitrated settlement is reached. Any initial payments retained or additional payments received by the Company are recognized as revenue when the settlement arrangements are executed and the cash is received, respectively.

In addition, the Company may agree with a customer to convert its obligations for one type of IMAX System configuration that has not yet been installed to an arrangement to acquire or lease a different type of IMAX System. The Company considers these situations to be the termination of the original arrangement and the origination of a new arrangement.

The Company may offer certain incentives to customers to complete IMAX System transactions including payment concessions or free services and products such as film licenses or 3D glasses. Reductions in, and deferral of, payments are taken into account in determining the transaction price either by a direct reduction in the sales price or a reduction of payments to be discounted. Free products and services are accounted for as separate performance obligations.

Maintenance and Extended Warranty Services

Maintenance and extended warranty services may be provided under an arrangement with multiple performance obligations or as a separately priced contract. Revenues related to these services are deferred and recognized on a straight-line basis over the contract period and are recognized within Revenues – Image Enhancement and Maintenance Services in the Consolidated Statements of Operations. Maintenance and extended warranty services include maintenance of the customer’s equipment and replacement parts. Under certain maintenance arrangements, maintenance services may include additional training services to the customer’s technicians. All costs associated with this maintenance and extended warranty program are expensed as incurred. A loss on maintenance and extended warranty services is recognized if the expected cost of providing the services under the contract exceeds the related deferred revenue. As the maintenance services are a stand ready obligation with the cost of providing the service expected to increase throughout the term, revenue is recognized over the term of the arrangement such that increased amounts are recognized in later periods.

IMAX DMR Services

In an IMAX DMR arrangement, the Company receives a percentage of the box-office receipts from a third party who owns the copyright to a film in exchange for converting the film into IMAX DMR format and distributing it through the IMAX network. In these arrangements, although the Company does not hold rights to the intellectual property in the form of the film content, it is compensated for the application of its intellectual property in the form of its patented DMR processes to create new intellectual property in the form of an IMAX DMR version of film. Revenues associated with IMAX DMR arrangements qualify for the variable consideration exemption for sales- or usage-based royalties in the relevant accounting guidance and are recognized within Revenues – Image Enhancement and Maintenance Services in the period when the corresponding box office sales occur.

Losses on IMAX DMR services are recognized as Costs and Expenses Applicable to Revenues – Image Enhancement and Maintenance Services in the period when it is determined that the Company’s estimate of total revenues to be realized by the remastered film will not exceed the corresponding cost of IMAX DMR services.

Film Production Services

In certain film arrangements, the Company produces a film financed by third parties whereby the third party retains the copyright, and the Company obtains exclusive distribution rights. Under these arrangements, the Company is entitled to receive a fixed fee or retain, as a fee, the excess of gross revenue over the cost of the production (the “production fee”). The third party receives a portion of the revenues received by the Company from distributing the film, which is charged to Costs and Expenses Applicable to Revenues – Image Enhancement and Maintenance Services. Production fees are deferred and recognized as a reduction in the cost of the film based on the ratio of the Company’s distribution revenues recognized in the current period to the ultimate distribution revenues expected from the film. Film exploitation costs, including advertising and marketing, are recorded in Costs and Expenses Applicable to Revenues – Image Enhancement and Maintenance Services as incurred, except for those costs that are made after recognizing revenue, which are recorded when the related revenues are recognized.

Revenue from film production services where the Company does not hold the associated distribution rights are recognized in Revenues – Image Enhancement and Maintenance Services when performance obligations associated with the contractual service are satisfied.

Losses on film production services are recognized as Costs and Expenses Applicable to Revenues – Image Enhancement and Maintenance Services in the period when it is determined that the Company’s estimate of total revenues to be realized by the Company will not exceed estimated total production costs to be expended on the film production.

Film Distribution Services

In a Film Distribution arrangement, the Company distributes large-format documentary films, primarily to institutional locations, and distributes exclusive entertainment experiences ranging from live performances to interactive events with leading artists and creators. Revenue from the licensing of films qualifies for the variable consideration exemption for sales- or usage-based royalties in the relevant accounting guidance and is recognized within Revenues – Image Enhancement and Maintenance Services when all performance obligations have been satisfied, which includes the completion and delivery of the film and the commencement of the license period. In situations when film license fees are based on a percentage of box-office receipts, revenue is recognized when box-office receipts are reported by the exhibitor. Film exploitation costs, including advertising and marketing, are expensed as incurred within Costs and Expenses Applicable to Revenues – Image Enhancement and Maintenance Services.

Film Post-Production Services

Revenues from post-production film services are recognized within Revenues – Image Enhancement and Maintenance Services when performance of the contracted services is completed.

Software License and Subscription Services

Through SSIMWAVE, the Company provides term licenses, which give customers the right to use its software for a specific period, and perpetual licenses, which give customers the right to use its software for an indefinite period. For both types of licenses, the associated revenue is recognized at the point in time when the customer can use and benefit from the software, which is generally upon delivery to the customer or upon commencement of the renewal term. For licenses that are deployed and hosted at the customer site, revenue is recognized upon delivery of the software to the customer or upon commencement of the renewal term. For licenses where the software is provided through a hosting arrangement, if the customer does not have a contractual right to take possession of the underlying software without significant penalty, or it is not feasible for the customer to run the software on its own hardware or contract a third party to host the services, the arrangement is accounted for as a service transaction whereby the Company has a stand-ready obligation to provide the software over the license period. Therefore, the related revenue is recognized ratably over the license period, as control of service is transferred to the customer.

SSIMWAVE's software license arrangements for both term and perpetual licenses typically include maintenance and support services which provide technical support and unspecified updates and upgrades on a when-and-if-available basis. The contractual term of the arrangement to provide maintenance and support services for perpetual licenses is renewable, generally on an annual basis, at the option of the customer. Maintenance and support services represent stand-ready obligations for which revenue is recognized ratably over the term of the arrangements.

Revenues from licenses and maintenance and support services are recognized within Revenues – Image Enhancement and Maintenance Services.

(p)

Leases

As a lessee, the Company’s lease arrangements principally involve office and warehouse space, which are classified as operating leases. The corresponding operating lease right-of-use (“ROU”) assets and liabilities are recorded within Property, Plant and Equipment and Accrued and Other Liabilities in the Company’s Consolidated Balance Sheets. ROU assets represent the Company’s right to use an underlying asset for the lease term. Operating lease liabilities are recognized at commencement date based on the present value of lease payments over the lease term. The incremental borrowing rate used in the calculation of the Company’s lease liabilities is based on the location of each leased property. None of the Company’s leases include options to purchase the leased property. Most of the Company’s leases include one or more options to renew, with renewal terms that can extend the lease term from one to five years or more. The Company has determined that it is reasonably certain that the renewal options on its warehouse leases will be exercised based on previous history, its current understanding of future business needs, and its level of investment in the leasehold improvements, among other factors. The depreciable lives of ROU assets and related leasehold improvements are limited by the expected lease term. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants. The Company rents or subleases certain office space to third parties, which have a remaining term of less than 12 months and are not expected to be renewed. When there are modifications to the lease agreements, the Company remeasures the lease liabilities to reflect changes to lease payments and recognizes the amount of the remeasurement of the lease liability as an adjustment to the ROU assets. Amortization of ROU assets and interest on lease liabilities are included within Selling, General and Administrative Expenses in the Company’s Consolidated Statements of Operations. (See Note 7 for additional information related to the Company’s operating leases.)

(q)

Research and Development

Research and development costs, which are expensed as incurred, primarily include projector and sound parts, labor, consulting fees, allocation of overheads, and other related materials which pertain to the Company’s development of new products and services. Research and development costs pertaining to fixed and intangible assets that have alternative future uses are capitalized and amortized under their related policies.

(r)

Foreign Currency Translation

Monetary assets and liabilities that are denominated in a currency other than the Company's functional currency are translated into the relevant functional currency using the exchange rate prevailing at the end of the period. Foreign exchange translation gains and losses are included in the determination of earnings in the period in which they arise.

Assets and liabilities recorded in foreign currencies are translated at the exchange rate on the balance sheet date. Revenues, expenses, gains, and losses recorded in foreign currencies are translated using the exchange rates prevailing during the period in which they are recognized. Translation adjustments resulting from this process are recorded to Other Comprehensive (Loss) Income and reported on the Company’s Consolidated Balance Sheets within Accumulated Other Comprehensive (Loss) Income until the subsidiary is sold or liquidated, at which point the adjustments are recognized in Consolidated Statements of Operations.

Foreign currency derivatives are recognized and measured in the Consolidated Balance Sheets at their fair value. Changes in the fair value (i.e., gains or losses) are recognized in the Consolidated Statements of Operations except for derivatives designated and qualifying as foreign currency hedging instruments. For foreign currency hedging instruments, the gain or loss related to the effective portion of the hedge of a forecasted transaction is reported within Other Comprehensive (Loss) Income and reclassified to the Consolidated Statements of Operations when the forecasted transaction occurs. Any ineffective portion is recognized immediately in the Consolidated Statements of Operations.

(s)

Share-Based Compensation

The Company issues share-based compensation to eligible employees, directors, and consultants under the IMAX Corporation Second Amended and Restated Long-Term Incentive Plan (as may be amended, the “IMAX LTIP”) and the China Long-Term Incentive Plan (the “China LTIP”) as summarized in Note 18. The IMAX LTIP is the Company’s governing document and awards to employees, directors, and consultants under this plan may consist of stock options, restricted share units (“RSUs”), performance stock units (“PSUs”) and other awards. A separate stock option plan, the China LTIP, was adopted by a subsidiary of the Company in October 2012.

The Company measures share-based compensation expense using the grant date fair value of the award (see below), which is recognized as an expense in the Consolidated Statements of Operations on a straight-line basis over the requisite service period. Share-based compensation expense is not adjusted for estimated forfeitures but is instead adjusted when and if actual forfeitures occur.

Stock Options

The Company utilizes a lattice-binomial option-pricing model (“Binomial Model”) to determine the fair value of stock option awards on the grant date. The fair value determined by the Binomial Model is affected by the Company’s stock price as well as assumptions regarding a number of highly complex and subjective variables. These variables include, but are not limited to, the Company’s expected stock price volatility over the term of the award, and actual and projected employee stock option exercise behaviors. The Binomial Model also considers the expected exercise multiple which is the multiple of exercise price to grant price at which exercises are expected to occur on average. Option-pricing models were developed for use in estimating the value of traded options that have no vesting or hedging restrictions and are fully transferable. Because the Company’s employee stock options have certain characteristics that are significantly different from traded options, and because changes in the subjective assumptions can materially affect the estimated value, in management’s opinion, the Binomial Model best provides a fair measure of the fair value of the Company’s employee stock options.

The Company stratifies its employees into homogeneous groups in order to calculate the grant date fair value of stock options using the Binomial Model. As a result, ranges of assumptions are used for the expected life of the option. The Company uses historical data to estimate option exercise behavior within the Binomial Model and various groups of employees that have similar historical exercise behavior are grouped together for valuation purposes. The expected volatility rate is estimated based on a blended volatility method which takes into consideration the Company’s historical share price volatility, the Company’s implied volatility which is determined in reference to observed current market prices for the Company’s traded options and the Company’s peer group volatility.

(See Note 18(c) for the assumptions used to determine the fair value of the Company’s stock options.)

Restricted Share Units

The fair value of RSU awards is equal to the closing price of the Company’s common stock on the date of grant or the average closing price of the Company’s common shares for five days prior to the date of grant. The value of the portion of the award that is ultimately expected to vest is recognized as compensation expense over the requisite service period in the Company’s Consolidated Statements of Operations. The Company’s RSUs are classified as equity.

Performance Stock Units

The Company grants two types of PSU awards, one which vests based on a combination of employee service and the achievement of certain EBITDA-based targets and one which vests based on a combination of employee service and the achievement of total shareholder return (“TSR”) targets. The achievement of the EBITDA and TSR targets in these PSUs is determined over a three-year performance period. At the conclusion of the three-year performance period, the number of PSUs that ultimately vest can range from 0% to a maximum vesting opportunity of 175% of the initial award, depending upon actual performance versus the established EBITDA and share-price targets. The Company’s PSUs are classified as equity.

The grant date fair value of PSUs with EBITDA-based targets is equal to the closing price of the Company’s common shares on the date of grant or the average closing price of the Company’s common shares for five days prior to the date of grant. The grant date fair value of PSUs with TSR targets is determined on the grant date using a Monte Carlo simulation, which is a valuation model that considers the likelihood of achieving the TSR targets embedded in the award (“Monte Carlo Model”). The compensation expense attributable to each type of PSU is recognized on a straight-line basis over the requisite service period.

The fair value determined by the Monte Carlo Model is affected by the Company’s share price, as well as assumptions regarding a number of highly complex and subjective variables. These variables include, but are not limited to, market conditions as of the grant date, the Company’s expected share price volatility over the term of the awards, and other relevant data. The compensation expense is fixed on the date of grant based on the dollar value of the PSUs granted.

The amount and timing of compensation expense recognized for PSUs with EBITDA-based targets is dependent upon management's assessment of the likelihood and timing of achieving these targets. If, as a result of management’s assessment, it is projected that a greater number of PSUs will vest than previously anticipated, a life-to-date adjustment to increase compensation expense is recorded in the period such determination is made. Conversely, if, as a result of management’s assessment, it is projected that a lower number of PSUs will vest than previously anticipated, a life-to-date adjustment to decrease compensation expense is recorded in the period such determination is made.

Share-Based Payment Awards to Non-Employees

Share-based payment awards for services provided by non-employees are measured at grant date fair value of the equity instruments that the Company is obligated to issue when the service has been rendered and any other conditions necessary to earn the right to benefit from the instruments have been satisfied. The grant date is the date which the Company and the non-employees reach a mutual understanding of the key terms and conditions of the share-based payment awards. When there are performance conditions related to the vesting of the share-based awards, the Company assesses the probability of vesting at each reporting date and adjusts the compensation costs based on the probability assessment.

(t)

Pension Plans and Postretirement Benefits

The Company has a defined benefit pension plan, the Supplemental Executive Retirement Plan (the “SERP”). As the Company’s SERP is unfunded, as of December 31, 2022, a liability is recognized for the benefit obligation.

Assumptions used in computing the defined benefit obligations are reviewed annually by management in consultation with its actuaries and adjusted for current conditions. Actuarial gains or losses and prior service costs or credits that arise during the period but are not recognized as components of net periodic benefits cost are recognized as a component of Other Comprehensive (Loss) Income. Amounts recognized in Accumulated Other Comprehensive (Loss) Income including unrecognized actuarial gains or losses and prior service costs are adjusted as they are subsequently recognized in the Consolidated Statements of Operations as components of net periodic benefit cost. Prior service costs resulting from the pension plan inception or amendments are amortized over the expected future service life of the employees, cumulative actuarial gains and losses in excess of 10% of the projected benefit obligation are amortized over the expected average remaining service life of the employees, and current service costs are expensed when earned. The remaining weighted average future service life of the employee used in computing the defined benefit obligation for the year ended December 31, 2022 was 3.0 years.

For defined contribution pension plans, required contributions by the Company are recorded as an expense within Selling, General and Administrative Expenses in the Company’s Consolidated Statements of Operations.

A liability is recognized for the unfunded accumulated benefit obligation of the postretirement benefits plan. Assumptions used in computing the accumulated benefit obligation are reviewed by management in consultation with its actuaries and adjusted for current conditions. Net benefit cost is split between operating income and non-operating income, where only the service cost is included in income from operations and the non-service components are included in Retirement Benefits Non-Service Expenses. Actuarial gains and losses are recognized as a component of Other Comprehensive (Loss) Income. Amounts recognized in Accumulated Other Comprehensive (Loss) Income including unrecognized actuarial gains or losses are adjusted as they are subsequently recognized within Retirement Benefits Non-Service Expense in the Consolidated Statements of Operations.

(u)

Guarantees

In situations when the Company acts as a guarantor, at the inception of a guarantee, it recognizes a liability for the fair value of the underlying guarantee. Disclosures as required under the relevant accounting guidance have been included in Note 17.

New Accounting Standards and Accounting Changes	12 Months Ended
New Accounting Standards and Accounting Changes	Dec. 31, 2022
Accounting Standards Update and Change in Accounting Principle [Abstract]
New Accounting Standards and Accounting Changes	4. New Accounting Standards and Accounting Changes Adoption of New Accounting Policies In July 2021, the FASB issued ASU No. 2021-05, “Leases (Topic 842): Lessors - Certain Leases with Variable Lease Payments” (“ASU 2021-05”), which requires sales-type or direct financing leases that have variable payments (that do not depend on a rate or an index) and result in a day-one loss to be classified as operating leases. When a lease is classified as operating, the lessor does not recognize a net investment in the lease, does not derecognize the underlying asset, and, therefore, does not recognize a selling profit or loss. The amendments are effective for annual periods beginning after December 15, 2021 including interim periods within those periods. Early adoption is permitted. The Company adopted ASU 2021-05 for the year ended December 31, 2022 and adoption did not have a material impact on the Company's Consolidated Financial Statements. In October 2021, the FASB issued ASU No. 2021-08, “2021-08: Business Combinations (Topic 850): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers” (“ASU 2021-08”). ASU 2021-08 requires that an acquirer recognize and measure contract assets and contract liabilities (e.g., deferred revenue) acquired in a business combination in accordance with Topic 606, as opposed to at fair value. ASU 2021-08 is effective for fiscal years beginning after December 15, 2022, including interim periods within those periods. Early adoption is permitted. The Company elected to early adopt ASU 2021-08 in the third quarter of 2022 in connection with its acquisition of SSIMWAVE Inc. (see Note 5). In November 2021, the FASB issued ASU No. 2021-10, “2021-10: Government Assistance (Topic 832): Disclosures by Business Entities about Government Assistance” (“ASU 2021-10”). The amendments in ASU 2021-10 require annual disclosures about transactions with a government that are accounted for by applying a grant or contribution accounting model by analogy. The amendments are effective for annual periods beginning after December 15, 2021. Early adoption is permitted. The Company adopted ASU 2021-10 for the year ended December 31, 2022 and has provided the required disclosures in Note 25. Recently Issued FASB Accounting Standard Codification Updates Not Yet Adopted In March 2020, the FASB issued ASU No. 2020-04, “Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting” (“ASU 2020-04”). The purpose of ASU 2020-04 is to provide optional expedients and exceptions for applying U.S. GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. ASU 2020-04 is effective for all entities from the beginning of an interim period that includes the issuance date of the ASU. An entity may elect to apply ASU 2020-04 prospectively through December 31, 2022. In October 2022, the FASB extended the temporary accounting relief to December 31, 2024 from the current sunset date of December 31, 2022. As of December 31, 2022, the Company is not party to any third party contracts that reference the London Interbank Offered Rate (LIBOR). Accordingly, the Company does not expect ASU 2020-04 to have a material effect on its Consolidated Financial Statements. In March 2022, the FASB issued ASU No. 2022-02, “2022-02: Financial Instruments—Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures” (“ASU 2022-02”). ASU 2022-02 amends and eliminates the accounting guidance for Troubled Debt Restructurings by creditors, while enhancing disclosure requirements for certain loan refinancings and restructurings by creditors when a borrower is experiencing financial difficulty and requires for public business entities, to disclose current-period gross write offs by year of origination for financing receivables and net investments in leases. ASU 2022-02 is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. Early adoption is permitted. The Company will adopt ASU 2022-02 for the first quarter of 2023 and is in the process of evaluating the accounting and disclosure impact, if any, on the Company's Consolidated Financial Statements. The Company considers the applicability and impact of all recently issued FASB accounting standard codification updates. Accounting standard updates that are not noted above were assessed and determined to be not applicable or not significant to the Company’s Consolidated Financial Statements for the year ended December 31, 2022.

- Definition

The entire disclosure for change in accounting principle. Includes, but is not limited to, nature, reason, and method of adopting amendment to accounting standards or other change in accounting principle.

+ References

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+ Details

Acquisition

12 Months Ended

Dec. 31, 2022

Business Combination and Asset Acquisition [Abstract]

Acquisition

5. Acquisition

On September 22, 2022, the Company acquired all of the issued and outstanding shares of SSIMWAVE pursuant to a share purchase agreement by and among the Company, SSIMWAVE, and related shareholders (the “Sellers”). SSIMWAVE provides perceptual quality measurement and optimization solutions based on artificial intelligence technologies for leading media and entertainment companies. Following the acquisition, SSIMWAVE became a wholly-owned subsidiary of the Company.

As consideration for the acquisition of SSIMWAVE, the Company paid an aggregate purchase price of $23.2 million, comprised of: (i) $19.5 million in cash, (ii) 160,547 common shares of the Company with a fair value of $1.9 million (the “IMAX Share Consideration”), and (iii) contingent consideration with a fair value of $1.8 million (the “Earn-Out Payment”). The fair value of the IMAX Share Consideration, which is based on the share price on the date of the acquisition, is reduced to reflect the fair value of certain restrictions on the future transfer of the shares. The Earn-Out Payment may be paid to certain Sellers in an aggregate amount of up to $2.0 million in cash, contingent upon and following the achievement of certain commercial and financial milestones during the period from January 1, 2023 to December 31, 2024, or under certain terms March 31, 2025. The fair value of the Earn-Out Payment is based on management's assessment of the likelihood of achieving these milestones.

The revenues and earnings of SSIMWAVE for the period post-acquisition through December 31, 2022 were included in All Other for segment reporting and were not material to the Company's Consolidated Financial Statements. During the year ended December 31, 2022, the Company incurred $1.1 million of professional fees in connection with the acquisition of SSIMWAVE, which were recorded within Selling, General and Administrative Expenses on the Company's Consolidated Statements of Operations.

The Company has accounted for the acquisition of SSIMWAVE as a business combination and has completed its valuation of the assets acquired and liabilities assumed. In the fourth quarter of 2022, the Company finalized the purchase price allocation and allocated $11.2 million from Goodwill to Other Intangible Assets based on its valuation procedures and recognized the $2.0 million of deferred tax liability related to this allocation. In addition, in the fourth quarter of 2022, the Company made an additional payment of $0.1 million to certain former SSIMWAVE shareholders resulting from customary post-acquisition date working capital adjustments.

The following table summarizes the allocation of the purchase price to the assets acquired and liabilities assumed as of December 31, 2022.


(In thousands of U.S. Dollars)
Purchase Price:
Cash payments	$	19,521
IMAX Share Consideration		1,947
Earn-Out Payment		1,750
Total Purchase Price	$	23,218
Allocation of Purchase Price:
Cash and cash equivalents	$	3,582
Accounts receivable		158
Property, plant and equipment		409
Intangible assets (see Note 14)		11,189
Other assets		293
Accounts payable and accrued liabilities		(1,092	)
Deferred revenue		(1,300	)
Federal economic development loan, net of unaccreted interest benefit		(1,772	)
Deferred tax liability		(2,037	)
Goodwill (see Note 14)		13,788
Total Purchase Price	$	23,218

The allocation of the fair value of identified intangible assets is as follows:


(In thousands of U.S. Dollars)	Fair Value		Weighted Average Useful Life
Patent and trademarks		100	2 Years
Customer relationships		1,340	7 Years
Developed technology		5,779	4 to 7 Years
In-process research and development		3,810	Not yet in use
Non-compete agreement		160	4 Years
Total identifiable intangible assets	$	11,189

Goodwill is the excess of the consideration transferred over the net assets recognized and primarily represents future economic benefits arising from assets acquired that are not individually identified and separately recognized, including synergies and assembled workforce inherent in the acquired business. The goodwill recorded is not expected to be deductible for income tax purposes. The goodwill associated with SSIMWAVE is in a separate reporting unit for goodwill impairment assessment purposes.

Receivables

12 Months Ended

Dec. 31, 2022

Receivables [Abstract]

Receivables

6. Receivables

The ability of the Company to collect its receivables is principally dependent on the viability and solvency of individual theater operators which is significantly influenced by consumer behavior and general economic conditions. Theater operators, or other customers, may experience financial difficulties that could result in them being unable to fulfill their payment obligations to the Company.

In order to mitigate the credit risk associated with its receivables, management performs an initial credit evaluation prior to entering into an arrangement with a customer and then regularly monitors the credit quality of each customer through an analysis of collections history and aging. This monitoring process includes meetings on at least a monthly basis to identify credit concerns and potential changes in credit quality classification. A customer may improve their credit quality classification once a substantial payment is made on an overdue balance or when the customer has agreed to a payment plan and payments have commenced in accordance with that plan. Changes in credit quality classification are dependent upon management approval. The Company’s internal credit quality classifications for theater operators are as follows:

•

Good Standing — The theater operator continues to be in good standing as payments and reporting are received on a regular basis.

•

Credit Watch — The theater operator has demonstrated a delay in payments, but continues to be in active communication with the Company. Theater operators placed on Credit Watch are subject to enhanced monitoring. In addition, depending on the size of the outstanding balance, length of time in arrears, and other factors, future transactions may need to be approved by management. These receivables are in better condition than those in the Pre-Approved Transactions Only category, but are not in as good condition as the receivables in the Good Standing category.

•

Pre-Approved Transactions Only — The theater operator has demonstrated a delay in payments with little or no communication with the Company. All services and shipments to the theater operator must be reviewed and approved by management. These receivables are in better condition than those in the All Transactions Suspended category, but are not in as good condition as the receivables in the Credit Watch category. In certain situations, a theater operator may be placed on nonaccrual status and all revenue recognition related to the theater may be suspended, including the accretion of Finance Income for Financing Receivables.

•

All Transactions Suspended — The theater operator is severely delinquent, non-responsive or not negotiating in good faith with the Company. Once a theater operator is classified within the All Transactions Suspended category, the theater is placed on nonaccrual status and all revenue recognitions related to the theater are suspended, including the accretion of Finance Income for Financing Receivables.

During the period when the accretion of Finance Income is suspended for Financing Receivables, any payments received from a customer are applied against the outstanding balance owed. If payments are sufficient to cover any unreserved receivables, a reversal of the provision is recorded to the extent of the residual cash received. Once the collectability issues are resolved and the customer has returned to being in good standing, the Company will resume recognition of Finance Income.

When a customer’s aging exceeds 90 days, the Company’s policy is to perform an enhanced review to assess collectability of the theater’s past due accounts. The over 90 days past due category may be an indicator of potential impairment as up to 90 days outstanding is considered to be a reasonable time to resolve any issues.

The Company develops an estimate of expected credit losses by class of receivable and customer type through a calculation that utilizes historical loss rates which are then adjusted for specific receivables that are judged to have a higher-than-normal risk profile after considering management’s internal credit quality classifications. Additional credit loss provisions are also recorded taking into account macro-economic and industry risk factors. The write-off of any billed receivable balance requires the approval of management.

On September 7, 2022, Cineworld, the parent company of Regal, and certain of its subsidiaries and Regal CineMedia Holdings, LLC, filed petitions for reorganization under Chapter 11 of the United States Bankruptcy Code in the Southern District of Texas. The Company had an unsecured pre-petition claim of $11.4 million related to receivables from the entities included in the reorganization proceedings. On October 21, 2022, the Company was ratified by the bankruptcy court as a critical vendor of Cineworld, allowing the Company to collect pre-petition amounts owed to it by Cineworld, and requiring Cineworld to stay current on the Company’s post-petition receivables. On November 8, 2022, IMAX Corporation entered into a trade agreement with Cineworld (the “Trade Agreement”), pursuant to which Cineworld affirmed the amount of the receivables owed to the Company and agreed to a payment plan under which all amounts due will be settled over the period from November 9, 2022 to April 12, 2023. As of February 20, 2023, the Company had received payments of $7.2 million from Cineworld in accordance with the terms of the Trade Agreement. Based on its evaluation of its contracts with Cineworld, its assessment of the reorganization and its discussions with Cineworld to date, the Company has determined that no additional provision for expected credit losses is required. The Company also does not expect to see a material impact on its IMAX network with Cineworld resulting from this reorganization. There can, however, be no guarantees as to the ultimate outcome of a Chapter 11 proceeding.

Management's judgments regarding expected credit losses are based on the facts available to management and involve estimates about the future. Due to the unprecedented nature of the COVID-19 pandemic, its effect on the Company's customers and their ability to meet their financial obligations to the Company is difficult to predict. As a result, the Company's judgments and associated estimates of credit losses may ultimately prove, with the benefit of hindsight, to be incorrect (see Note 2). The impacts of inflation, and rising interest rates may also impact future credit losses. The Company will continue to monitor economic trends and conditions and portfolio performance and adjust its allowance for credit loss accordingly.

Accounts Receivable

Accounts receivable principally includes amounts currently due to the Company under IMAX System sale and sales-type lease arrangements, contingent fees owed by theater operators as a result of box office performance, and fees for maintenance services. Accounts receivable also includes amounts due to the Company from movie studios and other content creators principally for digitally remastering films into IMAX formats, as well as for film distribution and post-production services.

The following tables summarize the activity in the allowance for credit losses related to Accounts Receivable for the years ended December 31, 2022 and 2021:


	Year Ended December 31, 2022
(In thousands of U.S. Dollars)	Theater Operators			Studios			Other			Total
Beginning balance	$	8,867		$	1,994		$	1,085		$	11,946
Current period provision (reversal), net		2,687			(128	)		585			3,144
Write-offs		(43	)		(128	)		(394	)		(565	)
Foreign exchange		(367	)		(39	)		—			(406	)
Ending balance	$	11,144		$	1,699		$	1,276		$	14,119

	Year Ended December 31, 2021
(In thousands of U.S. Dollars)	Theater Operators			Studios			Other			Total
Beginning balance	$	8,368		$	4,481		$	1,446		$	14,295
Current period provision (reversal), net		793			(1,913	)		(332	)		(1,452	)
Write-offs		(357	)		(551	)		(19	)		(927	)
Foreign exchange		63			(23	)		(10	)		30
Ending balance	$	8,867		$	1,994		$	1,085		$	11,946

For the year ended December 31, 2022, the Company’s allowance for current expected credit losses related to Accounts Receivable increased by $2.2 million, principally due to reserves established against its receivables in Russia due to uncertainties associated with the ongoing Russia-Ukraine conflict and resulting sanctions, partially offset by the reversal of provisions associated with the COVID-19 pandemic as the outlook for the theatrical exhibition industry in Domestic and Rest of World markets continues to improve. There remains a $1.5 million COVID-19 additional reserve for China.

For the year ended December 31, 2021, the Company’s allowance for current expected credit losses related to Accounts Receivable decreased by $2.3 million. This decrease is principally due to improved collection experience with respect to foreign studio receivable balances, partially offset by new provisions recorded in the period.

Financing Receivables

Financing receivables are due from theater operators and consist of the Company’s net investment in sales-type leases and receivables associated with financed sales of IMAX Systems. As of December 31, 2022 and 2021, financing receivables consist of the following:


	December 31,			December 31,
(In thousands of U.S. Dollars)	2022			2021
Net investment in leases
Gross minimum payments due under sales-type leases	$	29,727		$	29,953
Unearned finance income		(619	)		(763	)
Present value of minimum payments due under sales-type leases		29,108			29,190
Allowance for credit losses		(776	)		(798	)
Net investment in leases		28,332			28,392
Financed sales receivables
Gross minimum payments due under financed sales		141,337			152,315
Unearned finance income		(29,340	)		(34,244	)
Present value of minimum payments due under financed sales		111,997			118,071
Allowance for credit losses		(10,945	)		(5,414	)
Net financed sales receivables		101,052			112,657
Total financing receivables	$	129,384		$	141,049

Net financed sales receivables due within one year	$	32,366		$	29,115
Net financed sales receivables due after one year		68,686			83,542
Total financed sales receivables	$	101,052		$	112,657

As of December 31, 2022 and 2021, the weighted-average remaining lease term and weighted-average interest rate associated with the Company’s sales-type lease arrangements and financed sale receivables, as applicable, are as follows:


	December 31,			December 31,
	2022			2021
Weighted-average remaining lease term (in years)
Sales-type lease arrangements		9.0			9.6
Weighted-average interest rate
Sales-type lease arrangements		8.23	%		6.56	%
Financed sales receivables		8.79	%		8.79	%

The tables below provide information on the Company’s net investment in leases by credit quality indicator as of December 31, 2022 and 2021. The amounts disclosed for each credit quality classification are determined on a customer-by-customer basis and include both billed and unbilled amounts.


(In thousands of U.S. Dollars)	By Origination Year
As of December 31, 2022	2022		2021		2020		2019		2018		Prior		Total
Net investment in leases:
Credit quality classification:
In good standing	$	4,148	$	6,969	$	2,494	$	1,977	$	—	$	1,016	$	16,604
Credit Watch		—		—		—		—		—		—		—
Pre-approved transactions		—		3,089		1,162		5,401		2,451		—		12,103
Transactions suspended		—		—		—		—		—		401		401
Total net investment in leases	$	4,148	$	10,058	$	3,656	$	7,378	$	2,451	$	1,417	$	29,108

(In thousands of U.S. Dollars)	By Origination Year
As of December 31, 2021	2021		2020		2019		2018		2017		Prior		Total
Net investment in leases:
Credit quality classification:
In good standing	$	11,030	$	3,991	$	7,973	$	2,574	$	823	$	1,928	$	28,319
Credit Watch		—		—		—		—		—		—		—
Pre-approved transactions		—		—		—		—		—		—		—
Transactions suspended		—		—		—		—		—		871		871
Total net investment in leases	$	11,030	$	3,991	$	7,973	$	2,574	$	823	$	2,799	$	29,190

The tables below provide information on the Company’s financed sale receivables by credit quality indicator as of December 31, 2022 and 2021. The amounts disclosed for each credit quality classification are determined on a customer-by-customer basis and include both billed and unbilled amounts.


(In thousands of U.S. Dollars)	By Origination Year
As of December 31, 2022	2022		2021		2020		2019		2018		Prior		Total
Financed sales receivables:
Credit quality classification:
In good standing	$	10,252	$	8,643	$	6,280	$	8,541	$	9,854	$	39,912	$	83,482
Credit Watch		—		—		—		—		—		1,152		1,152
Pre-approved transactions		—		2,318		1,399		1,134		1,449		9,243		15,543
Transactions suspended		272		664		142		1,269		1,197		8,276		11,820
Total financed sales receivables	$	10,524	$	11,625	$	7,821	$	10,944	$	12,500	$	58,583	$	111,997

(In thousands of U.S. Dollars)	By Origination Year
As of December 31, 2021	2021		2020		2019		2018		2017		Prior		Total
Financed sales receivables:
Credit quality classification:
In good standing	$	12,520	$	8,251	$	10,593	$	13,278	$	12,615	$	47,950	$	105,207
Credit Watch		—		—		—		—		321		1,292		1,613
Pre-approved transactions		—		—		743		418		2,098		3,650		6,909
Transactions suspended		—		—		335		—		680		3,327		4,342
Total financed sales receivables	$	12,520	$	8,251	$	11,671	$	13,696	$	15,714	$	56,219	$	118,071

The balance of financed sale receivables classified within the Transactions Suspended category as of December 31, 2022 includes amounts due from exhibitors in Russia, Ukraine, and Belarus which were reclassified from other credit quality classifications in the first quarter of 2022 as a result of the ongoing Russia-Ukraine conflict and resulting sanctions.

The following tables provide an aging analysis for the Company’s net investment in leases and financed sale receivables as of December 31, 2022 and 2021:


	As of December 31, 2022
(In thousands of U.S. Dollars)	Accrued and Current		30-89 Days		90+ Days		Billed		Unbilled		Recorded Receivable		Allowance for Credit Losses			Net
Net investment in leases	$	237	$	216	$	2,593	$	3,046	$	26,062	$	29,108	$	(776	)	$	28,332
Financed sales receivables		2,269		1,307		12,793		16,369		95,628		111,997		(10,945	)		101,052
Total	$	2,506	$	1,523	$	15,386	$	19,415	$	121,690	$	141,105	$	(11,721	)	$	129,384

	As of December 31, 2021
(In thousands of U.S. Dollars)	Accrued and Current		30-89 Days		90+ Days		Billed		Unbilled		Recorded Receivable		Allowance for Credit Losses			Net
Net investment in leases	$	225	$	156	$	1,267	$	1,648	$	27,542	$	29,190	$	(798	)	$	28,392
Financed sales receivables		1,750		989		8,378		11,117		106,954		118,071		(5,414	)		112,657
Total	$	1,975	$	1,145	$	9,645	$	12,765	$	134,496	$	147,261	$	(6,212	)	$	141,049

The following tables provide information about the Company’s net investment in leases and financed sale receivables with billed amounts past due for which it continues to accrue finance income as of December 31, 2022 and 2021. The amounts disclosed for each credit quality classification are determined on a customer-by-customer basis and include both billed and unbilled amounts.


	As of December 31, 2022
(In thousands of U.S. Dollars)	Accrued and Current		30-89 Days		90+ Days		Billed		Unbilled		Allowance for Credit Losses			Net
Net investment in leases	$	190	$	181	$	2,593	$	2,964	$	17,070	$	(230	)	$	19,804
Financed sales receivables		1,550		1,115		10,814		13,479		43,172		(1,587	)		55,064
Total	$	1,740	$	1,296	$	13,407	$	16,443	$	60,242	$	(1,817	)	$	74,868

	As of December 31, 2021
(In thousands of U.S. Dollars)	Accrued and Current		30-89 Days		90+ Days		Billed		Unbilled		Allowance for Credit Losses			Net
Net investment in leases	$	143	$	132	$	825	$	1,100	$	12,619	$	(176	)	$	13,543
Financed sales receivables		959		729		6,190		7,878		41,439		(1,413	)		47,904
Total	$	1,102	$	861	$	7,015	$	8,978	$	54,058	$	(1,589	)	$	61,447

The following table provides information about the Company’s net investment in leases and financed sale receivables that are on nonaccrual status as of December 31, 2022 and 2021:


	As of December 31, 2022							As of December 31, 2021
(In thousands of U.S. Dollars)	Recorded Receivable		Allowance for Credit Losses			Net		Recorded Receivable		Allowance for Credit Losses			Net
Net investment in leases	$	401	$	(401	)	$	—	$	871	$	(309	)	$	562
Net financed sales receivables		27,364		(9,589	)		17,775		8,642		(2,357	)		6,285
Total	$	27,765	$	(9,990	)	$	17,775	$	9,513	$	(2,666	)	$	6,847

The balances of net investment in leases and financed sale receivables that are on nonaccrual status as of December 31, 2022 include amounts due from exhibitors in Russia, Ukraine, and Belarus which were placed on nonaccrual status in the first quarter of 2022 as a result of the ongoing Russia-Ukraine conflict and resulting sanctions.

For the year ended December 31, 2022, the Company recognized $0.1 million (2021 — $0.1 million) in Finance Income related to the net investment in leases with billed amounts past due. For the years ended December 31, 2022 and 2021, the Company did not recognize any Finance Income related to the net investment in leases in nonaccrual status. For the year ended December 31, 2022, the Company recognized $3.6 million (2021 — $3.7 million) in Finance Income related to the financed sale receivables with billed amounts past due. For the year ended December 31, 2022, the Company recognized $0.5 million (2021 – $0.2 million) in Finance Income related to the financed sales receivables in nonaccrual status.

The following tables summarize the activity in the allowance for credit losses related to the Company’s net investment in leases and financed sale receivables for years ended December 31, 2022 and 2021:


	Year Ended December 31, 2022
	Net Investment			Financed
(In thousands of U.S. Dollars)	in Leases			Sales Receivables
Beginning balance	$	798		$	5,414
Current period provision, net		5			5,783
Foreign exchange		(27	)		(252	)
Ending balance	$	776		$	10,945

	Year Ended December 31, 2021
	Net Investment			Net Financed
(In thousands of U.S. Dollars)	in Leases			Sales Receivables
Beginning balance	$	557		$	7,274
Current period provision (reversal), net		235			(1,947	)
Foreign exchange		6			87
Ending balance	$	798		$	5,414

For the year ended December 31, 2022, the Company’s allowance for current expected credit losses related to its net investment in leases and financed sale receivables increased by $5.5 million. This increase is principally due to reserves established against its receivables in Russia due to uncertainties associated with the ongoing Russia-Ukraine conflict and resulting sanctions, partially offset by the reversal of provisions associated with the COVID-19 pandemic as the outlook for the theatrical exhibition industry in Domestic and Rest of World markets continues to improve.

For the year ended December 31, 2021, the Company’s allowance for current expected credit losses related to its net investment in leases and financed sale receivables decreased by $1.6 million. This decrease is principally due to the reversal of previously recorded credit loss expense as a result of an improving outlook for theater operators following the reopening of theaters and the resumption of normal film release schedules as the theatrical exhibition industry continues to recover from the COVID-19 pandemic, partially offset by new provisions recorded in the period.

Variable Consideration Receivables

In sale arrangements, variable consideration may become due to the Company from theater operators if certain annual minimum box office receipt thresholds are exceeded. Such variable consideration is recorded as revenue in the period when the sale is recognized and adjusted in future periods based on actual results and changes in estimates. Variable consideration is only recognized to the extent the Company believes there is not a risk of significant revenue reversal.

The following table summarizes the activity in the Allowance for Credit Losses related to Variable Consideration Receivables for the years ended December 31, 2022 and 2021:


	Year Ended December 31,
(In thousands of U.S. Dollars)	2022			2021
Beginning balance	$	1,082		$	1,887
Current period reversal, net		(440	)		(787	)
Foreign Exchange		(32	)		(18	)
Ending balance	$	610		$	1,082

For the year ended December 31, 2022, the Company’s allowance for current expected credit losses related to Variable Consideration Receivables decreased by $0.5 million. This decrease is principally due to the reversal of provisions associated with the COVID-19 pandemic as the outlook for the theatrical exhibition industry in Domestic and Rest of World markets continues to improve.

For the year ended December 31, 2021, the Company’s allowance for current expected credit losses related to Variable Consideration Receivables decreased by $0.8 million. This decrease is principally due to the reversal of previously recorded credit loss expense as a result of an improving outlook for theater operators following the reopening of theaters and the resumption of normal film release schedules as the theatrical exhibition industry begins to recover from the COVID-19 pandemic, partially offset by new provisions recorded in the period.

Lease Arrangements

12 Months Ended

Dec. 31, 2022

Leases [Abstract]

Lease Arrangements

7. Lease Arrangements

(a)

IMAX Corporation as a Lessee

The Company’s operating lease arrangements principally involve office and warehouse space. Office equipment is generally purchased outright. Leases with an initial term of less than 12 months are not recorded on the Consolidated Balance Sheets and the related lease expense is recognized on a straight-line basis over the lease term. Most of the Company’s leases include one or more options to renew, with renewal terms that can extend the lease term from one to five years or more. The Company has determined that it is reasonably certain that the renewal options on its warehouse leases will be exercised based on previous history, its current understanding of future business needs, and its level of investment in leasehold improvements, among other factors. The incremental borrowing rate used in the calculation of the Company’s lease liabilities is based on the location of each leased property. None of the Company’s leases include options to purchase the leased property. The depreciable lives of right-of-use assets and related leasehold improvements are limited by the expected lease term. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants. The Company rents or subleases certain office space to third parties, which have a remaining term of less than 12 months and are not expected to be renewed.

In 2022, the Company entered into a finance lease arrangement involving equipment used to facilitate the delivery of live events to certain IMAX locations. The lease arrangement includes an option for the Company to purchase the equipment at the end of the lease term that is reasonably certain to be exercised. The resulting right-of-use assets are being depreciated from the lease commencement dates over the useful life of the underlying equipment. The incremental borrowing rate used in the calculation of the lease liabilities is based on the rate of interest the Company would have to pay to borrow on a collateralized basis over a similar term.

For the years ended December 31, 2022, 2021, and 2020 the components of lease expense recorded within Selling, General and Administrative Expenses are as follows:


	Years Ended December 31,
(In thousands of U.S. Dollars)	2022		2021		2020
Operating lease cost:
Amortization of operating lease assets		2,734		2,791		3,114
Interest on operating lease liabilities		825		937		1,052
Short-term and variable lease costs		616		713		540
Finance lease cost:
Amortization of finance lease assets		171	N/A		N/A
Interest on finance lease liabilities		22	N/A		N/A
Total lease cost	$	4,368	$	4,441	$	4,706

For the years ended December 31, 2022, 2021, and 2020, supplemental cash and non-cash information related to leases is as follows:


	Years Ended December 31,
(In thousands of U.S. Dollars)	2022		2021		2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating leases	$	3,783	$	3,839	$	3,743
Finance leases	$	948	N/A		N/A
Supplemental disclosure of noncash leasing activities:
Right-of-use assets obtained in exchange for operating lease obligations	$	3,068	$	1,047	$	563
Right-of-use assets obtained in exchange for finance lease obligations	$	1,990	N/A		N/A

As of December 31, 2022 and 2021, supplemental balance sheet information related to leases is as follows:


		December 31,
(In thousands of U.S. Dollars)		2022		2021
Assets	Balance Sheet Location
Operating lease right-of-use assets	Property, plant and equipment	$	12,341	$	12,132
Finance lease right-of-use assets	Property, plant and equipment	$	1,876	N/A
Liabilities	Balance Sheet Location
Operating lease liabilities	Accrued and other liabilities	$	14,641	$	14,691
Finance lease liabilities(1)	Accrued and other liabilities	$	1,011	N/A

(1)

Recorded net of a $0.9 million upfront payment made upon execution of the finance lease arrangement.

As of December 31, 2022 and 2021, the weighted-average remaining lease term and weighted-average interest rate associated with the Company’s leases are as follows:


	December 31,
	2022			2021
Operating leases:
Weighted-average remaining lease term (years)		6.0			7.0
Weighted-average discount rate		5.90	%		5.97	%
Finance leases:
Weighted-average remaining lease term (years)		4.7		N/A
Weighted-average discount rate		6.00	%	N/A

As of December 31, 2022, the maturities of the Company’s operating and finance lease liabilities are as follows:


(In thousands of U.S. Dollars)	Operating Leases			Finance Leases
2023	$	3,639		$	508
2024		3,017			508
2025		2,429			—
2026		2,069			—
2027		2,094			—
Thereafter		4,171			—
Total lease payments	$	17,419		$	1,016
Less: interest expense		(2,778	)		(5	)
Present value of lease liabilities	$	14,641		$	1,011

(b)

IMAX Corporation as a Lessor

The Company provides IMAX Systems to customers through long-term lease arrangements that for accounting purposes are classified as sales-type leases. Under these arrangements, in exchange for providing the IMAX System, the Company earns fixed upfront and ongoing consideration. Certain arrangements that are legal sales are also classified as sales-type leases as certain clauses within the arrangements limit transfer of title or provide the Company with conditional rights to the system. The customer’s rights under the Company’s sales-type lease arrangements are described in Note 3(o). Under the Company’s sales-type lease arrangements, the customer has the ability and the right to operate the hardware components or direct others to operate them in a manner determined by the customer. The Company’s lease portfolio terms are typically non-cancellable for 10 to 20 years with renewal provisions from inception. The Company’s sales-type lease arrangements do not contain a guarantee of residual value at the end of the lease term. The customer is required to pay for executory costs such as insurance and taxes and is required to pay the Company for maintenance and an extended warranty generally after the first year of the lease until the end of the lease term. The customer is responsible for obtaining insurance coverage for the IMAX System commencing on the date specified in the arrangement’s shipping terms and ending on the date the IMAX System is returned to the Company.

The Company also provides IMAX Systems to customers through joint revenue sharing arrangements. Under the traditional form of these arrangements, in exchange for providing the IMAX System under a long-term lease, the Company earns rent based on a percentage of contingent box office receipts and, in some cases, concession revenues, rather than requiring the customer to pay a fixed upfront fee or annual minimum payments. Under certain other joint revenue sharing arrangements, known as hybrid arrangements, the customer is responsible for making fixed upfront payments prior to the delivery and installation of the IMAX System. Under joint revenue sharing arrangements, the customer has the ability and the right to operate the hardware components or direct others to operate them in a manner determined by the customer. The Company’s joint revenue sharing arrangements are typically non-cancellable for 10 years or longer with renewal provisions. Title to the IMAX System under a joint revenue sharing arrangement generally does not transfer to the customer. The Company’s joint revenue sharing arrangements do not contain a guarantee of residual value at the end of the lease term. The customer is required to pay for executory costs such as insurance and taxes and is required to pay the Company for maintenance and an extended warranty throughout the term. The customer is responsible for obtaining insurance coverage for the IMAX System commencing on the date specified in the arrangement’s shipping terms and ending on the date the IMAX System is returned to the Company.

The following lease payments are expected to be received by the Company for its sales-type leases and joint revenue sharing arrangements in each of the next five years and thereafter following the December 31, 2022 balance sheet date:


(In thousands of U.S. Dollars)	Sales-Type Leases		Joint Revenue Sharing Arrangements
2023	$	3,245	$	172
2024		3,158		69
2025		3,038		27
2026		2,823		—
2027		2,760		—
Thereafter		14,702		—
Total	$	29,726	$	268

(See Note 7 for additional information related to the net investment in leases related to the Company’s sales-type lease arrangements.)

Variable Consideration from Contracts with Customers

12 Months Ended

Dec. 31, 2022

Change in Contract with Customer, Asset [Abstract]

Variable Consideration from Contracts with Customers

8. Variable Consideration from Contracts with Customers

The arrangement for the sale of an IMAX System includes indexed minimum payment increases over the term of the arrangement, as well as the potential for additional payments owed by the customer if certain minimum box office receipt thresholds are exceeded. In addition, hybrid sales arrangements include amounts owed by the customer based on a percentage of their box office receipts over the term of the arrangement. These contract provisions are considered to be variable consideration. An estimate of the present value of such variable consideration is recognized as revenue upon the transfer of control of the System Obligation to the customer, subject to constraints to ensure that there is not a risk of significant revenue reversal. This estimate is based on management’s box office projections for the individual IMAX System, which are developed using historical data for the location and, if necessary, comparable theaters and territories. (See Note 3(o) for a more detailed discussion of the Company’s accounting policy related to variable consideration.)

The following table summarizes the activity related to variable consideration from contracts with customers for the years ended December 31, 2022, 2021, and 2020:



(In thousands of U.S. Dollars)
Balance as of January 1, 2020	$	40,040
Variable consideration for newly recognized sales		5,550
Accretion to finance income		2,133
Transferred to receivables from variable consideration assets		(5,310	)
Movement in allowance for credit losses		(1,887	)
Balance as of December 31, 2020		40,526
Variable consideration for newly recognized sales		4,696
Accretion to finance income		1,985
Transferred to receivables from variable consideration assets		(3,794	)
Movement in allowance for credit losses (see Note 6)		805
Balance as of December 31, 2021		44,218
Variable consideration for newly recognized sales		7,109
Accretion to finance income		1,846
Transferred to receivables from variable consideration assets		(9,621	)
Movement in allowance for credit losses (see Note 6)		472
Balance as of December 31, 2022	$	44,024

Inventories

12 Months Ended

Dec. 31, 2022

Inventory Disclosure [Abstract]

Inventories

9. Inventories


	As of December 31,
(In thousands of U.S. Dollars)	2022		2021
Raw materials	$	25,365	$	20,551
Work-in-process		2,034		1,406
Finished goods		4,135		4,967
	$	31,534	$	26,924

As of December 31, 2022, Inventories include finished goods of $3.5 million (December 31, 2021 — $2.6 million) for which title had passed to the customer, but the criteria for revenue recognition were not met as of the balance sheet date.

The following table summarizes the activity for the Company’s inventory valuation allowance account for the years ended December 31, 2022, 2021 and 2020:


	Balance at beginning of year		Additions charged to expenses(1)		Other deductions(2)			Balance at end of year
(In thousands of U.S. Dollars)
Year ended December 31, 2022	$	4,897	$	919	$	(77	)	$	5,739
Year ended December 31, 2021	$	5,752	$	629	$	(1,484	)	$	4,897
Year ended December 31, 2020	$	3,216	$	3,028	$	(492	)	$	5,752

(1) Excludes a recovery of $0.2 million charged directly to the Consolidated Statements of Operations during the year ended December 31, 2022 (2021 and 2020 — expenses of $0.3 million, and $0.6 million, respectively).

(2) Includes the write-off of amounts previously charged to valuation allowance.

Film Assets

12 Months Ended

Dec. 31, 2022

Film, Capitalized Cost [Abstract]

Film Assets

10. Film Assets


	As of December 31,
(In thousands of U.S. Dollars)	2022		2021
Completed and released films, net of accumulated amortization of	$	1,227	$	2,292
$235,029 (2021 ― $218,148)
Films in production		1,667		195
Films in development		2,383		1,754
	$	5,277	$	4,241

The Company expects to amortize $5.2 million of the Film Assets balance within three years from December 31, 2022, including $4.9 million expected to be amortized in 2023, $0.2 million in 2024, and $0.1 million in 2025. In certain film arrangements, the Company co-produces a film with a third party with the third party retaining certain rights to the film. The amount of participation payments owed to third parties related to co-produced films as of December 31, 2022 is $3.8 million (December 31, 2021 — $3.3 million) and is recorded on the Consolidated Balance Sheets within Accrued and Other Liabilities.

In 2022, the Company recorded impairment losses of $0.8 million related to the write-down of DMR and documentary film assets (2021 — $0.2 million). In 2020, the Company recorded impairment losses of $10.8 million principally to write-down the carrying value of certain documentary, alternative content film assets and DMR related film assets due to a decrease in projected box office totals and related revenues based on management’s regular quarterly recoverability assessments.

Property, Plant and Equipment

12 Months Ended

Dec. 31, 2022

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

11. Property, Plant and Equipment


	As of December 31, 2022
			Accumulated		Net Book
(In thousands of U.S. Dollars)	Cost		Depreciation		Value
Equipment leased or held for use:
System components(1)(2)(3)	$	345,960	$	194,444	$	151,516
Camera equipment		8,597		3,859		4,738
		354,557		198,303		156,254
Assets under construction(4)		14,379		—		14,379
Right-of-use assets(5)		14,615		398		14,217
Other property, plant and equipment:
Land		8,203		—		8,203
Buildings		81,053		31,519		49,534
Office and production equipment(6)		38,485		31,360		7,125
Leasehold improvements		7,959		4,775		3,184
		135,700		67,654		68,046
	$	519,251	$	266,355	$	252,896

	As of December 31, 2021
			Accumulated		Net Book
(In thousands of U.S. Dollars)	Cost		Depreciation		Value
Equipment leased or held for use:
System components(1)(2)(3)	$	346,517	$	181,936	$	164,581
Camera equipment		4,855		3,214		1,641
		351,372		185,150		166,222
Assets under construction(4)		10,232		—		10,232
Right-of-use assets(5)		14,429		2,297		12,132
Other property, plant and equipment:
Land		8,203		—		8,203
Buildings		80,973		28,873		52,100
Office and production equipment(6)		39,017		31,169		7,848
Leasehold improvements		8,110		4,494		3,616
		136,303		64,536		71,767
	$	512,336	$	251,983	$	260,353

(1)

Included in system components are assets with costs of $7.6 million (2021 — $7.6 million) and accumulated depreciation of $7.2 million (2021 — $7.0 million) that are leased to customers under operating leases.

(2)

Included in system components are assets with costs of $323.7 million (2021 — $324.3 million) and accumulated depreciation of $177.9 million (2021 — $166.5 million) that are used in joint revenue sharing arrangements.

(3)

In 2022, the Company recorded charges of $1.0 million (2021 — $0.4 million; 2020 — $1.8 million) in Costs and Expenses Applicable to Technology Rentals mostly related to the write-down of leased xenon-based digital systems which were taken out of service in connection with customer upgrades to laser-based digital systems, as well as an IMAX System that was removed from its existing location.

(4)

Included in assets under construction are components with costs of $9.1 million (2021 — $9.2 million) that will be utilized to construct assets to be used in joint revenue sharing arrangements.

(5)

The right-of-use assets primarily include operating leases for office and warehouse space.

(6)

Fully depreciated office and production equipment is still in use by the Company. In 2022, the Company identified and wrote off $3.5 million (2021 — $0.5 million) of office and production equipment that is fully depreciated and no longer in use.

In 2022, the Company recorded a charge of $0.1 million (2021 — $0.2 million; 2020 — $0.2 million) reflecting Property, Plant and Equipment that was no longer in use.

Other Assets

12 Months Ended

Dec. 31, 2022

Other Assets [Abstract]

Other Assets

12. Other Assets


	As of December 31,
(In thousands of U.S. Dollars)	2022		2021
Lease incentives provided to exhibitor customers, net of accumulated amortization	$	12,975	$	14,834
Commissions and other deferred selling expenses		1,336		1,418
Other investments		1,000		1,000
Foreign currency derivatives		50		184
Other		304		363
	$	15,665	$	17,799

Income Taxes

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Income Taxes

13. Income Taxes

(a)

(Loss) Income Before Taxes by Jurisdiction

(Loss) income before taxes by tax jurisdiction for the years ended December 31, 2022, 2021, and 2020 consists of the following:


	Years Ended December 31,
(In thousands of U.S. Dollars)	2022			2021			2020
Canada	$	(55,623	)	$	(55,480	)	$	(104,166	)
United States		4,281			3,218			(6,437	)
China		11,466			53,792			(8,253	)
Ireland		24,070			829			(7,473	)
Other		6,037			8,628			(2,795	)
	$	(9,769	)	$	10,987		$	(129,124	)

(b)

Income Tax (Expense) Benefit

Income tax (expense) benefit for the years ended December 31, 2022, 2021, and 2020 consists of the following:


	Years Ended December 31,
(In thousands of U.S. Dollars)	2022			2021			2020
Income tax (expense) benefit – current:
Canada	$	(1,149	)	$	(915	)	$	555
United States		(274	)		(1,038	)		488
China		(4,437	)		(11,045	)		(1,980	)
Ireland		(2,802	)		(1,358	)		(1,462	)
Other		(3,519	)		(3,212	)		(487	)
Sub-total		(12,181	)		(17,568	)		(2,886	)
Income tax (expense) benefit – deferred:
Canada(1)		943			(231	)		(10,801	)
United States		(131	)		(1,268	)		867
China(2)		2,763			(381	)		(15,756	)
Ireland		(1,562	)		(997	)		2,161
Other		60			(119	)		(89	)
Sub-total		2,073			(2,996	)		(23,618	)
Total(3)	$	(10,108	)	$	(20,564	)	$	(26,504	)

(1)

A valuation allowance is recorded in jurisdictions where management has determined, based on the weight of all available evidence, both positive and negative, that a valuation allowance for deferred tax assets is required. For the year ended December 31, 2022, the Company recorded a $16.9 million valuation allowance against its deferred tax assets in Canada and China primarily as a result of uncertainties related to the long-term impact of the COVID-19 pandemic (2021 — $17.2 million). The $16.9 million increase in the valuation allowance recorded in 2022 is reflected within Income Tax Expense in the Company’s Consolidated Statements of Operations.

(2)

The Company's deferred tax liability of $17.6 million as of December 31, 2021 was for the estimated applicable foreign withholding taxes associated with historical earnings that were not indefinitely reinvested, which will become payable upon the repatriation of any such earnings. During the year ended December 31, 2022, $27.4 million of historical earnings from a subsidiary in China were distributed and, as a result, $2.7 million of foreign withholding taxes were paid to the relevant tax authorities. The remaining deferred tax liability on the Company’s Consolidated Balance Sheets as of December 31, 2022 is $14.9 million.

(3)

For the year ended December 31, 2022, Income Tax (Expense) Benefit excludes a tax expense of $0.8 million included in Other Comprehensive (Loss) Income (2021 — benefit of $0.3 million; 2020 — benefit of $0.1 million).

(c)

Reconciliation of Income Tax Expense to Statutory Rates

For the years ended December 31, 2022, 2021, and 2020, the Company’s effective tax rate and income tax expense differs from the combined Canadian federal and provincial statutory income tax rates due to the following factors:


	Years Ended December 31,
	2022				2021				2020
(In thousands of U.S. Dollars, except rates)	Amount			Rate	Amount			Rate	Amount			Rate
Income tax benefit (expense) at combined statutory rates	$	2,596		26.5%	$	(2,912	)	26.5%	$	34,218		26.5%
Adjustments resulting from:
Non-controlling interests share of partnership losses		—		0.0%		(1	)	0.0%		(1,229	)	(1.0%)
Increase in valuation allowance		(16,848	)	(172.5%)		(14,722	)	134.0%		(28,589	)	(22.1%)
Changes to tax reserves		1,643		16.8%		3,508		(31.9%)		(2,699	)	(2.1%)
U.S. federal and state taxes		(86	)	(0.9%)		(80	)	0.7%		(250	)	(0.2%)
Withholding taxes		(3,825	)	(39.2%)		(4,199	)	38.2%		(20,943	)	(16.2%)
Income tax at different rates in foreign and other provincial jurisdictions		3,872		39.6%		3,352		(30.5%)		(2,607	)	(2.0%)
Investment and other tax credits (non-refundable)		752		7.7%		413		(3.8%)		643		0.5%
Changes to deferred tax assets and liabilities resulting from audit and other tax return adjustments		2,278		23.3%		(5,336	)	48.6%		(1,219	)	(0.9%)
Other non-deductible/non-taxable items		(490	)	(4.9%)		(587	)	5.4%		(3,829	)	(3.0%)
Income tax expense	$	(10,108	)	(103.6%)	$	(20,564	)	187.2%	$	(26,504	)	(20.5%)

(d)

Deferred Tax Assets and Deferred Tax Liability

As of December 31, 2022 and 2021, the Company’s deferred tax assets and deferred tax liability consists of the following:


	As of December 31,
(In thousands of U.S. Dollars)	2022			2021
Net operating loss carryforwards	$	29,158		$	21,219
Investment tax credit and other tax credit carryforwards		5,213			3,919
Write-downs of other assets		2,341			1,223
Excess of tax accounting basis in various assets		14,549			13,929
Accrued pension liability		5,375			6,901
Accrued share-based compensation		8,920			7,728
Income recognition on net investment in leases		(3,344	)		(3,368	)
Other accrued reserves		10,552			8,369
Total deferred income tax assets		72,764			59,920
Valuation allowance		(62,864	)		(46,014	)
Deferred income tax asset net of valuation allowance		9,900			13,906
Deferred tax liability		(14,900	)		(17,642	)
Net deferred tax liability	$	(5,000	)	$	(3,736	)

As of December 31, 2022, net deferred tax assets include a liability of $1.1 million (December 31, 2021 — liability of $0.3 million) associated with amounts recognized within Accumulated Other Comprehensive (Loss) Income, including unrealized actuarial gains and losses related to the Company’s pension and other postretirement benefit plans and unrealized net gains and losses on cash flow hedging instruments.

(e)

Net Operating Loss Carryforwards

Estimated Canadian net operating loss carryforwards of $129.4 million can be used to reduce taxable income through 2042, China net operating losses of $5.1 million can be used to reduce taxable income through 2027, and $8.9 million of Ireland net operating losses can be carried forward indefinitely. Investment tax credits and other tax credits of $5.5 million can be carried forward to reduce income taxes payable through to 2042.

(f)

Indefinitely Reinvested Assertion

Income taxes are accrued for the earnings of non-Canadian affiliates and associated companies unless management determines that such earnings will be indefinitely reinvested outside of Canada.

In 2020, management completed a reassessment of its strategy with respect to the most efficient means of deploying the Company’s capital resources globally. Based on the results of this reassessment, management concluded that the historical earnings of certain foreign subsidiaries in excess of amounts required to sustain business operations would no longer be indefinitely reinvested. The Company's deferred tax liability of $17.6 million as of December 31, 2021 related to the estimated applicable foreign withholding taxes associated with these historical earnings. During the year ended December 31, 2022, $27.4 million of historical earnings from a subsidiary in China were distributed and, as a result, $2.7 million of foreign withholding taxes were paid to the relevant tax authorities (2021 — $2.0 million). The remaining deferred tax liability on the Company’s Consolidated Balance Sheets as of December 31, 2022 is $14.9 million.

(g)

Valuation Allowance

As of December 31, 2022, the Company’s Consolidated Balance Sheets include net deferred income tax assets of $9.9 million, net of a valuation allowance of $62.9 million (December 31, 2021 — $13.9 million, net of a valuation allowance of $46.0 million). For the years ended December 31, 2022 and 2021, the Company recorded a valuation allowance of $16.9 million and $17.2 million, respectively, where management cannot determine that the tax benefits will be realizable based on available evidence. The $16.9 million increase in the valuation allowance recorded in 2022 is reflected within Income Tax Expense in the Company’s Consolidated Statements of Operations. The $17.2 million increase in the valuation allowance recorded in 2021 is reflected within Income Tax Expense in the Company’s Consolidated Statements of Operations ($14.7 million) and Shareholder's Equity on the Company's Consolidated Balance Sheets ($2.5 million). The valuation allowance is expected to reverse at the point in time when management determines it is more likely than not that the Company will incur sufficient tax liabilities to allow it to utilize the deferred tax assets against which the valuation allowance is recorded.

(h)

Uncertain Tax Positions

As of December 31, 2022 and December 31, 2021, the Company had total tax reserves (including interest and penalties) of $12.3 million and $13.9 million, respectively, for various uncertain tax positions. While the Company believes it has adequately provided for all tax positions, amounts asserted by taxing authorities could differ from the Company's accrued liability. Accordingly, additional provisions on federal, provincial, state and foreign tax-related matters may be required in the future as revised estimates are made or the underlying matters are settled or otherwise resolved.

For the year ended December 31, 2022, the Company recorded a net decrease of $2.2 million related to reserves (excluding interest and penalties) for income taxes (2021 — $2.1 million, 2020 — $0.6 million).

The Company has elected to classify interest and penalties related to income tax liabilities, when applicable, as part of the Income Tax Expense in its Consolidated Statements of Operations rather than Interest Expense. The Company expensed $0.6 million in potential interest and penalties associated with its provision for uncertain tax positions for the years ended December 31, 2022 (2021 — expensed $1.4 million; 2020 — expensed $3.3 million).

The following table presents a reconciliation of the beginning and ending amount of tax reserves (excluding interest and penalties) for the years ended December 31, 2022, 2021, and 2020:


	Years Ended December 31,
(In thousands of U.S. Dollars)	2022			2021			2020
Balance at beginning of the year	$	11,939		$	14,076		$	14,718
Additions based on tax positions related to the current year		11			37			2,301
Reductions for tax positions of prior years		(94	)		(991	)		—
Reductions resulting from lapse of applicable statute of limitations and administrative practices		(2,123	)		(1,183	)		(2,943	)
Balance at the end of the year	$	9,733		$	11,939		$	14,076

The number of years with open tax audits varies depending on the tax jurisdiction. The Company's material taxing jurisdictions include Canada, the United States, Ireland, and China. In 2021, the Canadian tax authorities denied the Company’s deduction of certain foreign taxes accrued in 2015, but not yet paid as discussions with the local authorities are ongoing. This resulted in the payment of $8.9 million in income taxes and $1.6 million in associated interest to the Canadian tax authorities in the fourth quarter of 2021. The Company has filed a waiver with the Canadian tax authorities in respect of 2015 so that when the foreign taxes are paid, the Company would be entitled to receive a refund of the $8.9 million in tax, which is recorded on the Company’s Consolidated Balance Sheets within Accounts Receivable, and the $1.6 million in associated interest.

The Company's 2017 through 2022 tax years remain subject to examination by the IRS for United States federal tax purposes, and the 2016 through 2021 tax years remain subject to examination by the appropriate governmental agencies for Canadian federal tax purposes. There are other on-going audits in various other jurisdictions that are not material to the Consolidated Financial Statements.

The Company is subject to audit by tax authorities in the various jurisdictions in which it operates in the ordinary course of its business and believes that it has adequately reserved for the expected exposures in its accounts. During the fourth quarter of 2022, the Company received a Notice of Reassessment (the “Reassessment”) in the amount of $13.2 million (inclusive of interest). Although the CRA is continuing its audit and has requested additional information to continue its evaluation of the facts, a Reassessment was necessary as the time limitation for assessment as imposed under the relevant income tax treaty was set to expire before the audit could be completed. The Company believes that the matter will be resolved on a basis that is consistent with its filing position.

(i)

Income Tax Effect on Other Comprehensive (Loss) Income

For the years ended December 31, 2022, 2021, and 2020, Income Tax (Expense) Benefit related to the components of Other Comprehensive (Loss) Income is as follows:


	Years Ended December 31,
(In thousands of U.S. Dollars)	2022			2021			2020
Unrealized defined benefit plan actuarial (gain) loss	$	(198	)	$	(37	)	$	276
Unrealized postretirement benefit plans actuarial (gain) loss		(762	)		(35	)		92
Amortization of prior service cost		(48	)		(48	)		(23	)
Unrealized change in cash flow hedging instruments		346			(123	)		(132	)
Realized change in cash flow hedging instruments		(156	)		446			(158	)
Reclassification of unrealized change in ineffective cash flow hedging instruments		—			83			—
	$	(818	)	$	286		$	55

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 21
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-URI https://asc.fasb.org/extlink&oid=122134291&loc=d3e330215-122817

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 17
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32809-109319

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-URI https://asc.fasb.org/extlink&oid=122134291&loc=d3e330036-122817

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 14
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32705-109319

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+ Details

Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

14. Goodwill and Other Intangible Assets

(a)

Goodwill

As of December 31, 2022, the Company’s total Goodwill was $52.8 million, of which $13.8 million relates to the SSIMWAVE reporting unit, which was acquired on September 22, 2022, $19.1 million relates to the IMAX Systems reporting unit (December 31, 2021 — $19.1 million), $13.5 million relates to the Joint Revenue Sharing Arrangements reporting unit (December 31, 2021 — $13.5 million), and $6.4 million relates to the IMAX Maintenance reporting unit (December 31, 2021 — $6.4 million). (See Note 5 for additional information related to the Company's acquisition of SSIMWAVE.)

The Company performed a qualitative impairment test as of the annual assessment date, September 30, 2022, to evaluate whether it is more likely than not that the fair value of its reporting units was less than their respective carrying amounts. The Company concluded that it was not more likely than not that the fair value of its reporting units had been reduced below their respective carrying amounts.

(b)

Other Intangible Assets


	As of December 31, 2022
			Accumulated			Net Book
(In thousands of U.S. Dollars)	Cost		Amortization			Value
Licenses and intellectual property	$	26,168	$		15,232	$	10,936
Internal use software		32,886			25,232		7,654
Developed technology		5,779			225		5,554
In process research and development		3,810		—			3,810
Patents and trademarks		13,031			9,771		3,260
Customer relationships		1,340			50		1,290
Other		769			535		234
	$	83,783	$		51,045	$	32,738

	As of December 31, 2021
			Accumulated			Net Book
(In thousands of U.S. Dollars)	Cost		Amortization			Value
Licenses and intellectual property	$	26,168	$		13,642	$	12,526
Internal use software		28,571			21,544		7,027
Patents and trademarks		12,834			9,406		3,428
Other		598			499		99
	$	68,171	$		45,091	$	23,080

During 2022, the Company acquired $11.2 million of intangible assets through its acquisition of SSIMWAVE (see Note 5). In addition, during 2022, the Company capitalized $5.1 million related to the development of internal use software, as well as additions in patents and trademarks and other intangible assets (2021 — $4.1 million. The weighted average amortization period for these additions is 4.7 years (2021 — 2.3 years). The net book value of the other intangible assets capitalized in 2022 was $15.5 million as of December 31, 2022 (2021 — $3.9 million).

During 2022, the Company incurred costs of $0.1 million to renew or extend the term of acquired patents and trademarks which were recorded in Selling, General and Administrative expenses (2021 — $0.1 million).

Fully amortized other intangible assets are still in use by the Company. In 2022, the Company identified and wrote off $0.1 million (2021 — $0.1 million) of patents and trademarks that are no longer in use.

The estimated amortization expense for each of the next five years following the December 31, 2022 balance sheet date is as follows:


(In thousands of U.S. Dollars)
2023	$	(7,821	)
2024		(7,636	)
2025		(5,456	)
2026		(3,059	)
2027		(3,099	)

Borrowings

12 Months Ended

Dec. 31, 2022

Debt Disclosure [Abstract]

Borrowings

15. Borrowings

(a)

Revolving Credit Facility Borrowings, Net

As of December 31, 2022 and 2021, Revolving Credit Facility Borrowings, Net includes the following:


	December 31,			December 31,
(In thousands of U.S. Dollars)	2022			2021
Wells Fargo Credit Facility borrowings	$	25,000		$	—
HSBC China Facility borrowings		12,496			—
Bank of China Facility borrowings		374			3,612
Unamortized debt issuance costs		(1,759	)		(1,140	)
Revolving Credit Facility Borrowings, net	$	36,111		$	2,472

Wells Fargo Credit Agreement

On March 25, 2022, the Company entered into a Sixth Amended and Restated Credit Agreement with Wells Fargo Bank, National Association, as agent (the “Agent”), and a syndicate of lenders party thereto (the “Credit Agreement”), which extended the maturity date of the credit facility under the Credit Agreement (the “Credit Facility”) from June 28, 2023 to March 25, 2027. The Company's obligations under the Credit Agreement are guaranteed by certain of the Company's subsidiaries (the “Guarantors”), and are secured by first-priority security interests in substantially all of the assets of the Company and the Guarantors.

The Credit Agreement has a revolving borrowing capacity of $300.0 million, and contains an uncommitted accordion feature allowing the Company to further increase its borrowing capacity to the greater of $440.0 million or by the Company's EBITDA for the four most recently ended fiscal quarters, subject to certain conditions, depending on the mix of revolving loans and/or term loans under the incremental facility and subject to conditions set forth in the Credit Agreement.

The Credit Facility requires that the Company maintain a maximum Senior Secured Net Leverage Ratio (as defined in the Credit Agreement) of no greater than 3.25:1.00 on the last day of each Fiscal Quarter. The Senior Secured Net Leverage Ratio is the ratio of Total Debt (as defined in the Credit Agreement), secured by liens, net of unrestricted cash and cash equivalents held outside of the People’s Republic of China to a maximum of $75.0 million, relative to Adjusted EBITDA per Credit Facility for the four prior quarters. The Company was in compliance with this requirement as of December 31, 2022 as the Senior Secured Net Leverage Ratio was 0.00:1.00.

Loans under the Credit Facility bear interest, at the Company's option, at (i) Term SOFR, Eurocurrency Rate or CDOR Rate plus a margin ranging from 1.00% to 1.75% per annum; or (ii) the U.S. base rate or the Canadian prime rate plus a margin ranging from 0.25% to 1.00% per annum, in each case depending on the Company's total leverage ratio. In no event will Term SOFR, Eurocurrency Rate or CDOR Rate be less than 0.00% per annum.

As of December 31, 2022, the Company’s borrowings of $25.0 million (December 31, 2021 — nil) currently bear interest at Term SOFR, plus a margin of 1.75% per annum based on the Company's total leverage ratio. The effective interest rate for the year ended December 31, 2022 was 5.64% (2021 — 2.64%).

The Credit Agreement contains customary affirmative and negative covenants, including covenants that limit indebtedness, liens, asset sales, investments and restricted payments, in each case subject to negotiated exceptions and baskets. The Credit Agreement also contains customary representations, warranties and event of default provisions.

The Company incurred fees of approximately $2.5 million in connection with the March 2022 amendment of the Credit Agreement, which are being amortized on a straight-line basis over the term of the Credit Agreement. In the first quarter of 2022, the Company expensed $0.4 million in unamortized deferred financing costs associated with lenders that are no longer parties to the Credit Agreement.

On May 25, 2022, the Company delivered a “Designated Period” suspension notice to the Agent, and the Company, the Agent and the lenders under the Credit Agreement entered into a limited consent, which notice and limited consent evidenced and effectuated the termination of the Designated Period under the Credit Agreement. From and after the termination of the Designated Period, the $75.0 million minimum liquidity covenant in the Credit Agreement was no longer in effect.

For the year ended December 31, 2022, the Company did not have any letters of credit or advance payment guarantees outstanding under the Credit Facility. As of December 31, 2021, there were no amounts drawn under the previous credit facility, and the Company did not have any letters of credit or advance payment guarantees outstanding under the previous credit facility.

As of December 31, 2022, the amount available for future borrowings under the Credit Facility was $275.0 million.

Foreign Exchange Facility

Within the Credit Facility, the Company is able to purchase foreign currency forward contracts and/or other swap arrangements. As of December 31, 2022, the net unrealized loss on the Company's outstanding foreign currency forward contracts was $(0.6) million, representing the amount by which the notional value of these forward contracts exceeded their fair value (December 31, 2021 — net unrealized gain of $0.1 million). As of December 31, 2022, the notional value of the Company's outstanding foreign currency forward contracts was $24.7 million (December 31, 2021 — $26.7 million).

Bank of China Facility

In June 2022, IMAX (Shanghai) Multimedia Technology Co., Ltd. (“IMAX Shanghai”), one of the Company's majority-owned subsidiaries in China, renewed its unsecured revolving facility with Bank of China for up to 200.0 million Chinese Renminbi (“RMB”) ($28.7 million), including RMB 10.0 million ($1.4 million) for letters of guarantee, to fund ongoing working capital requirements (the “Bank of China Facility”). The Bank of China Facility expires in September 2023.

As of December 31, 2022, RMB 2.6 million ($0.4 million) of borrowings were outstanding under the Bank of China Facility and outstanding letters of guarantee were RMB 2.8 million ($0.4 million). As of December 31, 2021, outstanding Bank of China Facility borrowings were RMB 23.0 million ($3.6 million) and outstanding letters of guarantee were RMB 2.8 million ($0.5 million).

As of December 31, 2022, the amount available for future borrowings under the Bank of China Facility was RMB 187.4 million ($26.9 million) and the amount available for letters of guarantee was RMB 7.2 million ($1.0 million). The amount available for future borrowings under the Bank of China Facility is not subject to a standby fee. The effective interest rate for the year ended December 31, 2022 was 4.12% (2021 — 4.31%).

HSBC China Facility

In June 2022, IMAX Shanghai entered into an unsecured revolving facility for up to RMB 200.0 million ($28.7 million) with HSBC Bank (China) Company Limited, Shanghai Branch to fund ongoing working capital requirements (the “HSBC China Facility”). As of December 31, 2022, RMB 87.0 million ($12.5 million) of borrowings were outstanding under the HSBC China facility. As of December 31, 2022, the amount available for future borrowings under the HSBC China Facility was RMB 113.0 million ($16.2 million). The effective interest rate for the year ended December 31, 2022 was 3.91%.

NBC Facility

In October 2019, the Company entered into a $5.0 million facility with National Bank of Canada (the “NBC Facility”) fully insured by Export Development Canada for use solely in conjunction with the issuance of performance guarantees and letters of credit. The NBC Facility will expire on June 30, 2023, and is renewable on the same terms and conditions on an annual basis. The Company did not have any letters of credit or advance payment guarantees outstanding as of December 31, 2022 and 2021 under the NBC Facility.

(b)

Convertible Notes and Other Borrowings, Net

As of December 31, 2022 and December 31, 2021, Convertible Notes and Other Borrowings, Net includes the following:


	December 31,			December 31,
(In thousands of U.S. Dollars)	2022			2021
Convertible Notes	$	230,000		$	230,000
Unamortized discounts and debt issuance costs		(4,870	)		(6,359	)
Convertible Notes, net		225,130			223,641

Federal Economic Development Loan		2,812		N/A
Unaccreted interest benefit		(1,030	)	N/A
Federal Economic Development Loan, net		1,782		N/A

Convertible Notes and Other Borrowings, net	$	226,912		$	223,641

Convertible Notes

On March 19, 2021, the Company issued $230.0 million of 0.500% Convertible Senior Notes due 2026 (the “Convertible Notes”) in a private placement conducted pursuant to Rule 144A under the Securities Act of 1933, as amended. The net proceeds from the issuance of the Convertible Notes were $223.7 million, after deducting the initial purchasers’ discounts and commissions. In addition, the Company paid $1.2 million of debt issuance costs associated with the Convertible Notes. The Company used a portion of the net proceeds from the issuance of the Convertible Notes to make a partial repayment of previous outstanding revolving credit facility borrowings, and used the remainder for working capital or other general corporate purposes.

The Convertible Notes are senior unsecured obligations of the Company and bear interest at a rate of 0.500% per annum on the principal of $230.0 million, payable semi-annually in arrears on April 1 and October 1 of each year, beginning on October 1, 2021. The Convertible Notes will mature on April 1, 2026, unless they are redeemed or repurchased by the Company or converted on an earlier date.

Holders of the Convertible Notes have the right to convert their Convertible Notes in certain circumstances and during specified periods. Before January 1, 2026, holders of the Convertible Notes have the right to convert their Convertible Notes only upon the occurrence of certain events. From and after January 1, 2026, holders of the Convertible Notes may convert their Convertible Notes at any time at their election until the close of business on the second scheduled trading day immediately before the maturity date. Upon conversion, the Company will pay or deliver, as applicable, cash or a combination of cash (in an amount no less than the principal amount of the Convertible Notes being converted) and common shares, at its election, based on the applicable conversion rates. The initial conversion rate is 34.7766 common shares per $1,000 principal amount of Convertible Notes, which represents an initial conversion price of approximately $28.75 per common share, and is subject to adjustment upon the occurrence of certain events.

The Convertible Notes are redeemable, in whole or in part, at the Company’s option at any time, and from time to time, on or after April 6, 2024 and on or before the 40th scheduled trading day immediately before the maturity date, at a cash redemption price equal to the principal amount of the Convertible Notes to be redeemed, plus accrued and unpaid interest, if any, but only if the last reported sale price per share of the Company’s common stock exceeds 130% of the conversion price for a specified period of time. In addition, calling any Convertible Notes for redemption will constitute a “make-whole fundamental change” with respect to such notes, in which case the conversion rate applicable to the conversion of such notes will be increased in certain circumstances if such notes are converted after they are called for redemption.

In addition, upon the occurrence of a “fundamental change” (as defined below), holders may require the Company to repurchase their Convertible Notes at a cash repurchase price equal to the principal amount of the Convertible Notes to be repurchased, plus accrued and unpaid interest, if any. Subject to the terms and conditions of the indenture governing the Convertible Notes, a “fundamental change” means, among other things, an event resulting in (i) a change of control, (ii) a transfer of all or substantially all of the assets of the Company, (iii) a merger, (iv) liquidation or dissolution of the Company, or (v) delisting of the Company’s common shares from a national securities exchange.

The Company recorded the Convertible Notes entirely as a liability in the Consolidated Balance Sheets, net of initial purchasers' discounts and commissions and other debt issuance costs, with interest expense reflecting the cash coupon plus the amortization of the discounts and capitalized costs. Additionally, under the "if-converted" method, because the principal amount of the Convertible Notes is settled in cash and the conversion spread is settleable in the Company's common shares, diluted earnings per share is calculated by including the net number of incremental shares that would be issued upon conversion of the Convertible Notes, using the average market price during the period. Accordingly, the application of the "if-converted" method may reduce the Company's reported diluted earnings per share.

In connection with the pricing of the Convertible Notes, the Company entered into privately negotiated capped call transactions (the “Capped Call Transactions”) with certain financial institutions. The Capped Call Transactions are expected to reduce potential dilution resulting from the common shares the Company is required to issue and/or to offset any potential cash payments the Company is required to make in excess of the principal amount of the Convertible Notes in the event that the market price per share of the Company’s common shares is greater than the strike price of the Capped Call Transactions with such reduction and/or offset subject to a cap. The Capped Call Transactions have an initial cap price of $37.2750 per share of the Company’s common shares, which represents a premium of 75% over the last reported sale price of the common shares when they were priced on March 16, 2021, and are subject to certain adjustments under the terms of the Capped Call Transactions. Collectively, the Capped Call Transactions cover, subject to anti-dilution adjustments substantially similar to those applicable to the Convertible Notes, the number of the Company’s common shares underlying the Convertible Notes. The cost of the Capped Call Transactions was approximately $19.1 million.

The Capped Call Transactions are separate transactions, are not part of the terms of the Convertible Notes and will not affect any holder’s rights under the Convertible Notes. Holders of the Convertible Notes will not have any rights with respect to the Capped Call Transactions.

The Capped Call Transactions meet all of the applicable criteria for equity classification in accordance with ASC 815-10-15-74(a), “Derivatives and Hedging—Embedded Derivatives—Certain Contracts Involving an Entity’s Own Equity,” and, as a result, the related $19.1 million cost was recorded as a reduction to Other Equity within Shareholders’ Equity on the Company’s Consolidated Statements of Shareholders’ Equity and Consolidated Balance Sheets.

Federal Economic Development Loan

SSIMWAVE entered into a contribution agreement with the Federal Economic Development Agency for Southern Ontario (the “Federal Economic Development Loan”) on May 29, 2019, under which SSIMWAVE may receive up to $4.2 million Canadian Dollars (“CAD”) ($3.1 million) by way of repayable contributions toward certain eligible projects costs. The contributions under the agreement cover 35% of the eligible and supported costs of SSIMWAVE between January 10, 2019 and December 31, 2022. The contributions are repayable over 60 months, with repayments estimated to begin in January 2024, with an annual interest rate of 0%. As of December 31, 2022, SSIMWAVE has received contributions of CAD $3.8 million ($2.8 million) from the Federal Economic Development Loan.

The benefit of the interest free loan has been determined by calculating the present value of the payments using a market-based interest rate and comparing this to the proceeds received. The benefit is being recorded as the interest free benefit of government funding within Interest Income on the Company's Consolidated Statements of Operations. No benefit was recorded during the year ended December 31, 2022, as the Company did not receive any funding since the date of acquisition. The obligation is being accreted to its maturity amount, resulting in an interest accretion expense of less than $0.1 million in 2022 and is being recorded within Interest Expense on the Company's Consolidated Statements of Operations.

As of December 31, 2022, the Federal Economic Development Loan has a carrying value of $1.8 million, net of unaccreted interest benefit and is recorded within Convertible Notes and Other Borrowings, Net on the Company's Consolidated Balance Sheets.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
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-Publisher FASB
-Name Accounting Standards Codification
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-Publisher FASB
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+ Details

Commitments

12 Months Ended

Dec. 31, 2022

Commitments and Contingencies Disclosure [Abstract]

Commitments

16. Commitments

In the ordinary course of its business, the Company enters into contractual agreements with third parties that include non-cancelable payment obligations, for which it is liable in future periods. These arrangements can include terms binding the Company to minimum payments and/or penalties if it terminates the agreement for any reason other than an event of default as described by the agreement. The following table presents a summary of the Company’s contractual obligations and commitments as of December 31, 2022:


	Payments Due by Period
(In thousands of U.S. Dollars)	Total Obligation		Less Than One Year		1 to 3 years		3 to 5 years		Thereafter
Purchase obligations(1)	$	37,884	$	34,419	$	3,183	$	37	$	245
Pension obligations(2)		20,295		—		—		20,295		—
Operating lease obligations(3)		18,013		3,905		5,825		4,137		4,146
Finance lease obligations		1,016		508		508		—		—
Wells Fargo Facility		25,000		—		—		25,000		—
HSBC Facility		12,496		12,496		—		—		—
Bank of China Facility		374		374		—		—		—
Federal Economic Development Loan(4)		2,812		—		1,250		1,250		312
Convertible Notes(5)		234,025		1,150		2,300		230,575		—
Postretirement benefits obligations		2,504		104		210		220		1,970
	$	354,419	$	52,956	$	13,276	$	281,514	$	6,673

(1)

Represents total payments to be made under binding commitments with suppliers and outstanding payments to be made for supplies ordered, but yet to be invoiced.

(2)

The Company has an unfunded defined benefit pension plan covering its Chief Executive Officer. (See Note 24.)

(3)

Represents total minimum annual rental payments due under the Company’s operating leases. (See Note 7.)

(4)

The Federal Economic Development Loan will be repayable over 60 months, with repayments estimated to begin in January 2024. (See Note 15(b).)

(5)

The Convertible Notes bear interest at a rate of 0.500% per annum on the principal of $230.0 million, payable semi-annually in arrears on April 1 and October 1 of each year, beginning on October 1, 2021. The Convertible Notes will mature on April 1, 2026, unless earlier repurchased, redeemed or converted. (See Note 15(b).)

The Company compensates its sales force with both fixed and variable compensation. Commissions on the sale or lease of IMAX Systems are payable in graduated amounts from the time of collection of the customer’s first payment to the Company up to the collection of the customer’s last initial payment. As of December 31, 2022, $2.2 million (December 31, 2021 — $1.1 million) of commissions have been accrued and will be payable in future periods.

Contingencies and Guarantees

12 Months Ended

Dec. 31, 2022

Commitments and Contingencies Disclosure [Abstract]

Contingencies and Guarantees

17. Contingencies and Guarantees

The Company is involved in lawsuits, claims, and proceedings, including those identified below, which arise in the ordinary course of business. Management is required to assess the likelihood of any adverse judgments or outcomes related to these legal contingencies, as well as potential ranges of probable or reasonably possible losses. The Company records a provision for a liability when it is probable that a loss has been incurred and the amount of the loss can be reasonably estimated. The determination of the amount of any liability recorded or disclosed is reviewed at least quarterly based on a careful analysis of each individual exposure with, in some cases, the assistance of outside legal counsel, taking into account the impact of negotiations, settlements, rulings, and other pertinent information related to the case. The amount of liabilities recorded or disclosed for these contingencies may change in the future due to changes in management's judgments resulting from new developments or changes in settlement strategy. Any resulting adjustment to the liabilities recorded by the Company could have a material adverse effect on its results of operations, cash flows, and financial position in the period or periods in which such changes in judgment occur. The Company believes it has adequate provisions for any such matters. The Company expenses legal costs relating to its lawsuits, claims and proceedings as incurred.

(i) In January 2004, the Company and IMAX Theatre Services Ltd., a subsidiary of the Company, commenced an arbitration seeking damages before the International Court of Arbitration of the International Chamber of Commerce (the “ICC”) with respect to the breach by Electronic Media Limited (“EML”) of its December 2000 agreement with the Company. In June 2004, the Company commenced a related arbitration before the ICC against EML's affiliate, E-City Entertainment (I) PVT Limited (“E-City”). On March 27, 2008, the arbitration panel issued a final award in favor of the Company in the amount of $11.3 million, consisting of past and future rents owed to the Company, plus interest and costs, as well as an additional $2,512 each day in interest from October 1, 2007 until the date the award is paid. In July 2008, E-City commenced a proceeding in Mumbai, India seeking to prevent recognition of the ICC award in India. On March 10, 2017, the Supreme Court dismissed E-City's petition. On March 29, 2017, the Company filed an Execution Application in the Bombay High Court seeking to enforce the ICC award against E-City and several related parties, which award the Company calculates to be $25.3 million, inclusive of interest, as of December 31, 2022. That matter is currently pending. The Company has also taken steps to enforce the ICC final award outside of India. In December 2011, the Ontario Superior Court of Justice issued an order recognizing the final award and requiring E-City to pay the Company $30,000 to cover the costs of the application, and in May 2012, the New York Supreme Court recognized the Canadian judgment and entered it as a New York judgment. The Company intends to continue pursuing its rights and seeking to enforce the award, although no assurances can be given with respect to the ultimate outcome.

(ii) On November 11, 2013, Giencourt Investments, S.A. (“Giencourt”) initiated arbitration before the International Centre for Dispute Resolution in Miami, Florida, based on alleged breaches by the Company of its theater agreement and related license agreement with Giencourt. On February 7, 2017, the panel issued a Partial Final Award and on July 21, 2017, the panel issued a Final Award (collectively, the “Award”), which held that the parties had reached a binding settlement, and therefore the panel did not reach a decision regarding the merits of the dispute. On December 3, 2020, the District Judge entered a final judgment (the “Final Judgment”) against the Company in the total amount of $11.3 million as damages under the Award. As of December 31, 2020, the Company's Consolidated Balance Sheets included a liability within Accrued and Other Liabilities of $11.3 million related to the Final Judgment, consisting of $7.2 million related to amounts collected from or owed to Giencourt principally in respect of theater systems that were not delivered and $4.1 million in respect of the remaining amounts owed under the Final Judgment. On June 23, 2021, the Company entered into a final settlement agreement with Giencourt to fully resolve all disputes between the parties in the United States and Ontario (the “Settlement Agreement”). In the second quarter of 2021, the Company paid Giencourt $9.5 million as required by the terms of the Settlement Agreement. As a result of the Settlement Agreement, the Final Judgment has been vacated, all litigation between the parties in all jurisdictions has been dismissed and full and final releases have been exchanged by the parties. Accordingly, upon entry in the Settlement Agreement on June 23, 2021, the remaining $1.8 million liability recorded within Accrued and Other Liabilities was reversed and a corresponding $1.8 million benefit was recorded in the Company's Consolidated Statements of Operations within Legal Judgment and Arbitration Awards in the second quarter of 2021.

(iii) In addition to the matters described above, the Company is currently involved in other legal proceedings or governmental inquiries which, in the opinion of the Company's management, will not materially affect the Company's financial position or future operating results, although no assurance can be given with respect to the ultimate outcome of any such proceedings.

(iv) In the normal course of business, the Company enters into agreements that may contain features that meet the definition of a guarantee. A guarantee is a contract (including an indemnity) that contingently requires the Company to make payments (either in cash, financial instruments, other assets, shares of its stock, or provision of services) to a third party based on (a) changes in an underlying interest rate, foreign exchange rate, equity or commodity instrument, index or other variable, that is related to an asset, a liability or an equity security of the counterparty, (b) failure of another party to perform under an obligating agreement or (c) failure of another third party to pay its indebtedness when due.

Financial Guarantees

Certain subsidiaries of the Company have provided significant financial guarantees to third parties under the Credit Agreement (see Note 15).

Product Warranties

The Company’s accrual for product warranties, which is recorded within Accrued and Other Liabilities in the Consolidated Balance Sheets, was $nil as of December 31, 2022 and 2021, respectively.

Director/Officer Indemnifications

The Company’s by-laws contain an indemnification of its directors/officers, former directors/officers, and persons who have acted at its request to be a director/officer of an entity in which the Company is a shareholder or creditor, to indemnify them, to the extent permitted by the Canada Business Corporations Act, against expenses (including legal fees), judgments, fines and any amounts actually and reasonably incurred by them in connection with any action, suit or proceeding in which the directors and/or officers are sued as a result of their service, if they acted honestly and in good faith with a view to the best interests of the Company. In addition, the Company has entered into indemnification agreements with each of its directors in order to effectuate the foregoing. The nature of the indemnification prevents the Company from making a reasonable estimate of the maximum potential amount it could be required to pay to counterparties. The Company has purchased directors’ and officers’ liability insurance. No amount has been accrued in the Company's Consolidated Balance Sheets as of December 31, 2022 and December 31, 2021 with respect to this indemnity.

Other Indemnification Agreements

In the normal course of its operations, the Company provides indemnifications to counterparties in transactions such as: IMAX System lease and sale agreements and the supervision of installation or servicing of IMAX Systems; film production, exhibition and distribution agreements; real property lease agreements; and employment agreements. These indemnification agreements require the Company to compensate the counterparties for costs incurred as a result of litigation claims that may be suffered by the counterparty as a consequence of the transaction or the Company’s breach or non-performance under these agreements. While the terms of these indemnification agreements vary based upon the contract, they normally extend for the life of the agreements. A small number of agreements do not provide for any limit on the maximum potential amount of indemnification; however, virtually all of the IMAX System lease and sale agreements limit such maximum potential liability to the purchase price of the system. The fact that the maximum potential amount of indemnification required by the Company is not specified in some cases prevents the Company from making a reasonable estimate of the maximum potential amount it could be required to pay to counterparties. Historically, the Company has not made any significant payments under such indemnifications and no amounts have been accrued in the Consolidated Financial Statements with respect to the contingent aspect of these indemnities.

Capital Stock

12 Months Ended

Dec. 31, 2022

Equity [Abstract]

Capital Stock

18. Capital Stock

(a)

Authorized Common Shares

The authorized capital of the Company consists of an unlimited number of common shares. The following is a summary of the rights, privileges, restrictions, and conditions of the common shares.

The holders of common shares are entitled to receive dividends, if and when declared by the directors of the Company, subject to the rights of the holders of any other class of shares of the Company entitled to receive dividends in priority to the common shares.

The holders of the common shares are entitled to one vote for each common share held at all meetings of the shareholders.

(b)

Settlements of Share-Based Compensation

During the years ended December 31, 2022, 2021, and 2020, the Company settled the exercise of stock options and the vesting of RSUs with its common shares. These settlements were either through newly issued common shares from treasury or through the purchase of common shares in the open market by the IMAX LTIP trustee. The following table summarizes the settlement of stock option and RSU transactions:


	Years Ended December 31,
	2022		2021		2020
Stock options
Issued from treasury		—		41,613		—
Plan trustee purchases		—		—		—
Total stock options exercised		—		41,613		—

RSUs
Issued from treasury		596,277		531,629		42,982
Plan trustee purchases		—		723		386,297
Shares withheld for tax withholdings		203,956		157,546		24,714
Total RSUs vested		800,233		689,898		453,993

(c)

Share-Based Compensation

The Company issues share-based compensation to eligible employees, directors, and consultants under the IMAX LTIP and the China LTIP, as summarized below. On June 3, 2020, the Company’s shareholders approved the IMAX LTIP at its Annual and Special Meeting.

Awards under the IMAX LTIP may consist of stock options, RSUs, PSUs, and other awards. Stock options are no longer granted under the Company’s previously approved Stock Option Plan (“SOP”).

For the year ended December 31, 2022, share-based compensation expense totaled $27.0 million (2021 — $25.6 million; 2020 — $21.5 million) and is reflected in the following accounts in the Consolidated Statements of Operations:


	Years Ended December 31,
(In thousands of U.S. Dollars)		2022			2021			2020
Cost and expenses applicable to revenues	$		1,156	$		1,490	$		691
Selling, general and administrative expenses			25,438			23,776			20,652
Research and development			419			348			150
	$		27,013	$		25,614	$		21,493

As of December 31, 2022, the Company has reserved a total of 5,788,499 (December 31, 2021 — 5,807,445) common shares for future issuance under the IMAX LTIP. Of this amount, 3,604,739 common shares are reserved for the future exercise of stock options (December 31, 2021 — 3,736,157), 931,716 common shares are reserved for the future vesting of PSUs (December 31, 2021 — 613,405), and 1,252,044 common shares are reserved for the future vesting of RSUs (December 31, 2021 — 1,457,883). As of December 31, 2022, stock options in respect of 3,523,335 (December 31, 2021 — 3,488,107) common shares were vested and exercisable.

IMAX LTIP and SOP Stock Options

The Company’s policy is to issue new common shares from treasury or shares purchased in the open market to satisfy stock options which are exercised. The Company no longer intends to issue new stock option awards.

The Company utilizes a Binomial Model to determine the fair value of stock option awards on the grant date. The fair value determined by the Binomial Model is affected by the Company’s stock price, as well as assumptions regarding a number of highly complex and subjective variables. These variables include, but are not limited to, the Company’s expected stock price volatility over the term of the award, and actual and projected employee stock option exercise behaviors. The Binomial Model also considers the expected exercise multiple which is the multiple of exercise price to grant price at which exercises are expected to occur on average. Option-pricing models were developed for use in estimating the value of traded options that have no vesting or hedging restrictions and are fully transferable. Because the Company’s employee stock options have certain characteristics that are significantly different from traded options, and because changes in the subjective assumptions can materially affect the estimated value, in management’s opinion, the Binomial Model best provides a fair measure of the fair value of the Company’s employee stock options.

All stock option awards are granted at the fair market value of the Company’s common shares on the date of grant. The fair market value of a common share on a given date is based on the higher of the closing price of a common share on either: (i) the grant date or (ii) the most recent trading date if the grant date is not a trading date on the New York Stock Exchange (“NYSE”) or such national exchange as may be designated by the Company’s Board of Directors. The stock options vest within 4 years and expire 10 years or less from the date of grant. The SOP and IMAX LTIP provide for double-trigger accelerated vesting in the event of a change in control, as defined in each plan.

The Company recorded the following expenses related to stock options issued to employees and directors under the IMAX LTIP and SOP:


	Years Ended December 31,
(In thousands of U.S. Dollars)	2022		2021		2020
Stock option expense	$	572	$	1,064	$	1,847

For the year ended December 31, 2022, the Company’s Consolidated Statements of Operations includes an income tax benefit of $0.1 million related to stock option expense (2021 — $0.1 million; 2020 — $0.1 million).

As of December 31, 2022, 2021, and 2020, unrecognized share-based compensation expense related to non-vested employee stock options is as follows:


	As of December 31,
(In thousands of U.S. Dollars)	2022		2021		2020
Expense related to non-vested employee stock options	$	86	$	662	$	2,029

As of 2022, 2021, and 2020, unrecognized share-based compensation expense related to non-vested employee stock options is expected to be recognized over the following weighted-average periods:


	As of December 31,
	2022		2021		2020
Weighted average period (in years)		0.2		1.1		1.8

During the years ended December 31, 2022, 2021 and 2020, the Company did not grant any stock options.

The following table summarizes the stock option activity under the SOP and IMAX LTIP for the years ended December 31, 2022, 2021, and 2020:


											Weighted Average Exercise
	Number of Shares										Price Per Share
	2022			2021			2020			2022			2021		2020
Stock options outstanding, beginning of year		3,736,157			4,892,962			5,732,209		$		26.61	$	26.81	$	26.82
Granted		—			—			—				—		—		—
Exercised		—			(41,613	)		—				—		21.23		—
Forfeited		(796	)		(88,934	)		(34,678	)			22.49		22.49		22.49
Expired		(126,569	)		(903,038	)		(786,086	)			33.61		28.31		27.07
Cancelled		(4,053	)		(123,220	)		(18,483	)			27.92		26.68		27.97
Stock options outstanding, end of year		3,604,739			3,736,157			4,892,962				26.36		26.61		26.81
Stock options exercisable, end of year		3,523,335			3,488,107			4,311,761				26.45		26.93		27.30

As of December 31, 2022, 3,604,739 options outstanding included both fully vested and unvested options with a weighted average exercise price of $26.36, an aggregate intrinsic value of $nil and a weighted average remaining contractual life of 3.3 years. The intrinsic value of options exercised in 2022 was $nil (2021 — $0.1 million; 2020 — $nil).

IMAX LTIP Restricted Share Units

RSUs have been granted to employees and directors under the IMAX LTIP. Each RSU represents a contingent right to receive a common share and is the economic equivalent of one common share. The grant date fair value of each RSU is equal to the share price of the Company’s stock at the grant date or the average closing price of the Company’s common stock for five days prior to the date of grant. For the years ended December 31, 2022, 2021, and 2020, the Company recorded the following expenses related to RSUs issued to employees and directors in the IMAX LTIP:


	Years Ended December 31,
(In thousands of U.S. Dollars)	2022		2021		2020
RSU expenses	$	15,498	$	15,555	$	13,761

The Company’s actual tax expense realized for the tax deductions related to the vesting of RSUs was $0.9 million for the year ended December 31, 2022 (2021 — benefit of $0.6 million; 2020 — benefit of $0.3 million).

The Company’s accrued liability for granted RSUs was $0.8 million as of December 31, 2022 (December 31, 2021 — $2.6 million).

Total share-based compensation expense related to non-vested RSUs not yet recognized and the weighted average period over which the awards are expected to be recognized are as follows:


	Years Ended December 31,
(In thousands of U.S. Dollars)	2022		2021		2020
Expense related to non-vested RSUs not yet recognized	$	17,457	$	15,913	$	17,343

Weighted average period awards are expected to be recognized (in years)		1.5		1.6		1.9

The following table summarizes the activity in respect of RSUs issued under the IMAX LTIP for the years ended December 31, 2022, 2021, and 2020:


	Number of Awards									Weighted Average Grant Date Fair Value Per Share
	2022			2021			2020				2022			2021			2020
RSUs outstanding, beginning of year		1,457,883			1,564,838			1,065,347		$		19.16	$		18.33	$		23.17
Granted		708,313			831,123			1,050,385				19.31			21.03			15.35
Vested and settled		(800,231	)		(689,872	)		(453,993	)			19.10			19.46			22.71
Forfeited		(113,921	)		(248,206	)		(96,901	)			20.39			19.38			18.81
RSUs outstanding, end of year		1,252,044			1,457,883			1,564,838				19.16			19.16			18.33

Historically, RSUs granted under the IMAX LTIP have vested between immediately and three years from the grant date. In connection with the second amendment and restatement of the IMAX LTIP at the Company’s annual and special meeting of the shareholders on June 3, 2020, the IMAX LTIP plan retained the minimum one-year vesting period on future RSU grants, with a carve-out for an aggregate of no more than 5% of the total number of common shares authorized for issuance under the plan that may vest on a shorter schedule. Vesting of the RSUs is subject to continued employment or service with the Company. The following table summarizes the number of RSUs issued from the carve-out balance:


Approved under the June 3, 2020 amended and restated IMAX LTIP	885,000
Issued during previous years	(482,912	)
Issued during 2022	(59,030	)
Outstanding, December 31, 2022	343,058

Restricted Share Units to Non-Employees

During the years ended December 31, 2022, 2021 and 2020, the Company did not grant any stock options to non-employees. The Company did not record any expenses for the year ended December 31, 2022 related to RSU grants issued to advisors and strategic partners of the Company (2021 ― $nil; 2020 ― $0.1 million).

IMAX LTIP Performance Stock Units Summary

In 2020, the Company expanded its share-based compensation program to include PSUs. The Company grants two types of PSUs awards, one which vests based on a combination of employee service and the achievement of certain EBITDA-based targets and one which vests based on a combination of employee service and the achievement of total shareholder return (“TSR”) targets. The achievement of the EBITDA and TSR targets in these PSUs is determined over a three-year performance period. At the conclusion of the three-year performance period, the number of PSUs that ultimately vest can range from 0% to a maximum vesting opportunity of 175% of the initial award, depending upon actual performance versus the established EBITDA and stock-price targets.

The amount and timing of compensation expense recognized for PSUs with EBITDA-based targets is dependent upon management's assessment of the likelihood of achieving these targets. If, as a result of management’s assessment, it is projected that a greater number of PSUs will vest than previously anticipated, a life-to-date adjustment to increase compensation expense is recorded in the period that such determination is made. Conversely, if, as a result of management’s assessment, it is projected that a lower number of PSUs will vest than previously anticipated, a life-to-date adjustment to decrease compensation expense is recorded in the period that such determination is made.

For the years ended December 31, 2022, 2021, and 2020, the Company recorded the following expenses related to outstanding PSUs, which includes adjustments reflecting management’s estimate of the number of PSUs with EBITDA-based targets expected to vest:


	Years Ended December 31,
(In thousands of U.S. Dollars)	2022		2021		2020
PSU expenses	$	8,306	$	5,322	$	2,563

The Company’s actual tax benefits realized for the tax deductions related to the vesting of PSUs was $nil for the year ended December 31, 2022 (2021 ― $nil; 2020 ― $nil).

As of December 31, 2022, total unrecognized share-based compensation expense related to unvested PSUs and the weighted average period over which the expense is expected to be recognized is $10.8 million and 1.8 years, respectively.

The following table summarizes the activity in respect of PSUs issued under the IMAX LTIP:


	Number of Awards									Weighted Average Grant Date Fair Value Per Share
	2022			2021			2020				2022			2021			2020
PSUs outstanding, beginning of year		613,405			361,844			—		$		18.21	$		15.68	$		—
Granted		359,138			309,574			370,265				20.34			20.77			15.66
Forfeited		(40,827	)		(58,013	)		(8,421	)			19.90			16.11			4.84
PSUs outstanding, end of year		931,716			613,405			361,844				18.96			18.21			15.68

As of December 31, 2022, the maximum number of shares of common stock that may be issued with respect to PSUs outstanding is 1,630,503, assuming full achievement of the EBITDA and stock-price targets.

China Long-Term Incentive Plan

Each stock option (“China Option”), RSU, or PSU issued under the China LTIP represents an opportunity to participate economically in the future growth and value creation of IMAX China.

In connection with the IMAX China IPO and in accordance with the China LTIP, IMAX China adopted a post-IPO share option plan and a post-IPO restricted stock unit plan. Pursuant to these plans, IMAX China has issued additional China Options, China LTIP Performance Stock Units (“China PSUs”), and China LTIP Restricted Share Units (“China RSUs”).

For the years ended December 31, 2022, 2021, and 2020, share-based compensation expense related to China Options, China RSUs and China PSUs was as follows:


	Years Ended December 31,
(In thousands of U.S. Dollars)	2022		2021		2020
Expense
China Options	$	91	$	285	$	875
China RSUs		2,284		2,810		2,093
China PSUs		262		578		208
Total	$	2,637	$	3,673	$	3,176

In 2022, IMAX China modified the terms of certain fully vested stock options to extend their contractual life by one year and recorded an associated expense of $0.1 million (2021 ― $0.1 million; 2020 ― $0.7 million).

Issuer Purchases of Equity Securities

On April 28, 2022 and July 28, 2022, the Company’s Board of Directors approved a 12-month extension to its share repurchase program through June 30, 2023 and an increase of $200.0 million in the share repurchase program, respectively. With the increase of $200.0 million, the Company's total share repurchase authority is $400.0 million under the current share repurchase program. As of December 31, 2022, the Company has $193.4 million available under its approved repurchase program. The repurchases may be made either in the open market or through private transactions, including repurchases made pursuant a plan intended to comply with Rule 10b5-1 under the Securities Exchange Act of 1934, as amended, subject to market conditions, applicable legal requirements, and other relevant factors. The Company has no obligation to repurchase shares and the share repurchase program may be suspended or discontinued by the Company at any time. In 2022, the Company repurchased 5,401,852 (2021 ― 841,331) common shares at an average price of $15.19 per share (2021 ― $16.51 per share), for a total of $82.0 million (2021 ― $13.9 million), excluding commissions, of which 140,000 were common shares (2021 ― nil) where settlement occurred subsequent to December 31, 2022, at an average price of $14.45 per share, for a total of $2.0 million, excluding commissions. Subsequent to December 31, 2022 and through February 21, 2023, the Company completed repurchases through a 10b5-1 program of 109,477 shares at an average price of $14.87 per share, for a total cost of $1.6 million, excluding commissions.

The following table summarizes the Company's share repurchases during the years ended December 31, 2022 and 2021:


	Total Number of Shares Repurchased				Average Price Paid Per Share
(in thousands of U.S. Dollars)	2022		2021			2022			2021
Shares repurchased		5,401,852		841,331	$		15.19	$		16.51

For the years ended December 31, 2022 and 2021, there were no shares purchases in the administration of employee share based plans.

As of December 31, 2022, the IMAX LTIP trustee held nil shares. Any shares held with the trustee are recorded at cost and are reported as a reduction against Capital Stock on the Company’s Consolidated Balance Sheets.

In 2021, IMAX China’s shareholders granted its Board of Directors a general mandate authorizing the Board, subject to applicable laws, to repurchase shares of IMAX China not to exceed 10% of the total number of issued shares as of May 6, 2021 (34,835,824 shares). This program expired on the date of the 2022 Annual General Meeting of IMAX China on June 23, 2022. During the 2022 Annual General Meeting, shareholders approved the repurchase of shares of IMAX China not to exceed 10% of the total number of issued shares as of June 23, 2022 (34,063,480 shares). This program will be valid until the 2023 Annual General Meeting of IMAX China. The repurchases may be made in the open market or through other means permitted by applicable laws. IMAX China has no obligation to repurchase its shares and the share repurchase program may be suspended or discontinued by IMAX China at any time.

In 2022, IMAX China repurchased 2,961,800 (2021 ― 6,664,700) common shares at an average price of HKD 8.00 per share (U.S. $1.02 per share) for a total of HKD 23.7 million or U.S. $3.0 million (2021 ― HKD 11.68 per share or U.S. $1.50 per share, for a total of HKD 77.8 million or U.S. $10.0 million). The change in non-controlling interest as a result of common shares repurchased by IMAX China is recorded within Non-Controlling Interest in the Consolidated Balance Sheets and the Consolidated Statements of Shareholders’ Equity. The difference between the consideration paid and the ownership interest obtained as a result of IMAX China share repurchases is recorded within Other Equity in the Consolidated Balance Sheets and the Consolidated Statements of Shareholders’ Equity (see Note 3(a)).

The following table summarizes the IMAX China's share repurchases during the years ended December 31, 2022 and 2021:


	Total Number of Shares Repurchased				Average Price Paid Per Share
(in thousands of U.S. Dollars)	2022		2021			2022			2021
Shares repurchased		2,961,800		6,664,700	$		1.02	$		1.50

(d)

Basic and Diluted Weighted Average Shares Outstanding

The following table reconciles the denominator of the basic and diluted weighted average share computations:


	Years Ended December 31,
(In thousands)	2022			2021		2020
Issued and outstanding, beginning of period		58,654			58,921		61,176
Weighted average number of shares (repurchased) issued, net		(1,980	)		205		(1,939	)
Weighted average number of shares outstanding - basic and diluted		56,674			59,126		59,237

For the year ended December 31, 2022, the calculation of diluted earnings per share excludes 4,523,121 (2021 and 2020 ― 6,131,792 and 6,999,667, respectively) shares that are issuable upon the vesting of 637,120 RSUs (2021 and 2020 ― 1,457,883 and 1,564,838, respectively), the vesting of 281,262 PSUs (2021 and 2020 ― 937,752 and 541,867 respectively), and the exercise of 3,604,739 stock options (2021 and 2020 ― 3,736,157 and 4,892,962, respectively), as the effect would be anti-dilutive.

The calculation of diluted weighted average shares outstanding for the year ended December 31, 2022 also excludes any shares potentially issuable upon the conversion of the Convertible Notes as the average market price of the Company’s common shares during the period of time they were outstanding was less than the conversion price of the Convertible Notes. (See Note 15(b).)

(e)

Statutory Surplus Reserve

The Company’s PRC subsidiaries are required to appropriate 10% of statutory net profits to statutory surplus reserves, upon distribution of their after-tax profits. The Company’s PRC subsidiaries may discontinue the appropriation of statutory surplus reserves when the aggregate sum of the statutory surplus reserve is more than 50% of their registered capital. The statutory surplus reserve is non-distributable other than during liquidation and may only be used to fund losses from prior years, to expand production operations, or to increase the capital of the subsidiaries. In addition, the subsidiaries may make further contribution to the discretional surplus reserve using post-tax profits in accordance with resolutions of the Board of Directors.

In 2021, one of the Company's PRC subsidiaries declared and paid dividends of RMB 131.6 million ($20.4 million). In the third quarter of 2021, upon passage of the requisite resolution of the Board of Directors, a statutory surplus reserve of RMB 36.4 million ($5.6 million) was recorded within Shareholders' Equity as an appropriation of the retained earnings of the Company's PRC subsidiaries, of which $3.9 million is attributable to the Company's common shareholders and $1.7 million is attributable to non-controlling shareholders. The statutory surplus reserve of RMB 36.4 million ($5.6 million) has reached 50% of its PRC subsidiaries' registered capital. No additional statutory surplus reserve was recorded by the Company's PRC subsidiaries for the year ended December 31, 2022.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-URI https://asc.fasb.org/topic&trid=2208762

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
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+ Details

Consolidated Statements of Operations Supplemental Information

12 Months Ended

Dec. 31, 2022

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Consolidated Statements of Operations Supplemental Information

19. Consolidated Statements of Operations Supplemental Information

(a)

Selling Expenses

The following table summarizes the Company’s selling expenses, including sales commissions and marketing and other, which are recognized within Costs and Expenses Applicable to Revenues in the Consolidated Statements of Operations, for the years ended December 31, 2022, 2021 and 2020:


	Years Ended December 31,
	2022				2021				2020
(In thousands of U.S. Dollars)	Sales Commissions		Marketing and Other		Sales Commissions		Marketing and Other		Sales Commissions		Marketing and Other
Technology sales(1)	$	479	$	810	$	1,885	$	989	$	1,278	$	1,077
Image enhancement and maintenance services(2)		—		20,284		—		8,923		—		4,306
Technology rentals(3)		85		663		399		1,109		908		510
Total	$	564	$	21,757	$	2,284	$	11,021	$	2,186	$	5,893

(1)

Sales commissions paid prior to the recognition of the related revenue are deferred and recognized upon the client acceptance of the IMAX System. Direct advertising and marketing costs for each IMAX System are expensed as incurred.

(2)

Film exploitation costs, including advertising and marketing costs are expensed as incurred.

(3)

Sales commissions related to joint revenue sharing arrangements accounted for operating leases are recognized in the month they are earned by the salesperson, which is typically the month in which the IMAX System is installed. Direct advertising and marketing costs for each IMAX System are expensed as incurred.

(b)

Foreign Exchange

Included in Selling, General and Administrative Expenses for the year ended December 31, 2022 is a net loss of $(3.2) million resulting from changes in exchange rates related to foreign currency denominated monetary assets and liabilities, primarily due to the weakening of the RMB against the USD, as compared to a net gain of $1.3 million and a net gain of $0.8 million for the years ended December 31, 2021 and 2020, respectively. See Note 23(c) for additional information.

(c)

Collaborative Arrangements

Joint Revenue Sharing Arrangements

See Note 7 for a description of the material terms of the Company's collaborative joint revenue sharing arrangements. The accounting policy for the Company's joint revenue sharing arrangements is disclosed in Note 3(o).

Revenue attributable to transactions arising between the Company and its customers under joint revenue sharing arrangements are recorded within Revenues – Technology Sales (for hybrid joint revenue sharing arrangements) and Revenues – Technology Rentals (for traditional joint revenue sharing arrangements). For the year ended December 31, 2022, such revenues totaled $66.6 million (2021 — $51.6 million; 2020 — $19.9 million). (See Note 21(a) for a disaggregated presentation of the Company’s revenues.)

IMAX DMR

In an IMAX DMR arrangement, the Company receives a percentage of the box office receipts from a third party who owns the copyright to a film in exchange for converting the film into IMAX DMR format and distributing it through the IMAX network. The fee earned by the Company in a typical IMAX DMR arrangement averages approximately 12.5% of box office receipts (i.e. gross box office receipts less applicable sales taxes), except for within Greater China, where the Company receives a lower percentage of net box office receipts for certain Hollywood films. The accounting policy for the Company's IMAX DMR arrangements is disclosed in Note 3(o).

Revenue attributable to transactions arising between the Company and its customers under IMAX DMR arrangements are included in Revenues – Image Enhancement and Maintenance Services. For the year ended December 31, 2022, such revenues totaled $94.9 million (2021 — $70.7 million; 2020 — $28.3 million). (See Note 21(a) for a disaggregated presentation of the Company’s revenues.)

Co-Produced Film Arrangements

In certain film arrangements, the Company co-produces a film with a third party whereby the third party retains the copyright and certain other rights to the film. In some cases, the Company obtains exclusive theatrical distribution rights to the film. Under these arrangements, both parties contribute to the funding of the production, distribution and exploitation costs associated with the film.

As of December 31, 2022, the Company is party to one co-produced film arrangement, which represents the VIE total assets balance of $1.5 million and liabilities balance of $0.2 million and three other co-produced film arrangements, the terms of which are similar. The accounting policies relating to co-produced film arrangements are disclosed in Notes 3(a) and 3(o).

In 2022, an expense of $0.8 million (2021 — $0.4 million; 2020 — $2.0 million) attributable to transactions between the Company and other parties involved in the production of the films have been included in Costs and Expenses Applicable to Revenues – Image Enhancement and Maintenance Services.

In 2017, the Company participated in one significant co-produced television arrangement. This arrangement was not a VIE. For the year ended December 31, 2022, revenues of $0.3 million (2021 — $0.2 million; 2020 — $0.3 million) and Costs and Expenses Applicable to Revenues of $nil (2021 — $nil; 2020 — $nil) attributable to this collaborative arrangement were recorded within Revenue – Image Enhancement and Maintenance Services and Costs and Expenses Applicable to Revenues – Image Enhancement and Maintenance Services.

Consolidated Statements of Cash Flows Supplemental Information

12 Months Ended

Dec. 31, 2022

Supplemental Cash Flow Elements [Abstract]

Consolidated Statements of Cash Flows Supplemental Information

20. Consolidated Statements of Cash Flows Supplemental Information

(a)

Changes in other operating assets and liabilities


	Years Ended December 31,
(In thousands of U.S. Dollars)		2022				2021				2020
Decrease (Increase) in:
Financing receivables	$		5,411		$		(7,637	)	$		(10,568	)
Prepaid expenses			(1,892	)			(3,230	)			(979	)
Variable consideration receivables			667				(2,905	)			(2,361	)
Other assets			968				1,003				(4,747	)
Increase (Decrease) in:
Accounts payable			8,496				(4,752	)			414
Accrued and other liabilities			(12,849	)			15,167				(6,399	)
	$		801		$		(2,354	)	$		(24,640	)

(b)

Cash payments made on account


	Years Ended December 31,
(In thousands of U.S. Dollars)		2022			2021			2020
Income taxes(1)	$		13,963	$		18,475	$		4,763
Interest	$		715	$		3,251	$		5,773

(1)

In 2021, the Canadian tax authorities denied the Company’s deduction of certain foreign taxes accrued in 2015, but not yet paid as discussions with the local authorities are ongoing. This resulted in the payment of $8.9 million in income taxes and $1.6 million in associated interest to the Canadian tax authorities in the fourth quarter of 2021. The Company has filed a waiver with the Canadian tax authorities in respect of 2015 so that when the foreign taxes are paid, the Company would be entitled to receive a refund of the $8.9 million in tax, which is recorded on the Company’s Consolidated Balance Sheets within Accounts Receivable, and the $1.6 million in associated interest.

(c)

Depreciation and amortization


	Years Ended December 31,
(In thousands of U.S. Dollars)		2022			2021			2020
Film assets	$		16,881	$		16,316	$		8,838
Property, plant and equipment:
Equipment supporting joint revenue sharing arrangements			22,165			22,320			24,930
Other property, plant and equipment(1)			9,757			9,479			11,225
Other intangible assets(2)			6,103			6,079			6,565
Other assets(3)			1,755			1,888			1,146
Total	$		56,661	$		56,082	$		52,704

(1)

Includes the amortization of laser projection systems, camera, and lens upgrades recorded in Research and Development on the Statements of Operations of $0.6 million in the year ended December 31, 2022 (2021 — $0.8 million; 2020 — $0.9 million).

(2)

Includes the amortization of licenses and intellectual property recorded in Research and Development on the Consolidated Statements of Operations of $1.3 million in the year ended December 31, 2022 (2021 — $1.3 million; 2020 — $1.3 million).

(3)

Includes the amortization of lessee incentives provided by the Company to its customers under joint revenue sharing arrangements.

(d)

Write-downs, including asset impairments


	Years Ended December 31,
(In thousands of U.S. Dollars)		2022			2021			2020
Other assets(1)	$		4,470	$		—	$		1,151
Inventories(2)			741			890			3,632
Property, plant and equipment:
Equipment supporting joint revenue sharing arrangements(3)			973			364			1,784
Other property, plant and equipment			57			217			174
Other intangible assets			87			142			184
Film assets(4)			848			151			10,804
	$		7,176	$		1,764	$		17,729

(1)

In 2022, the Company recognized a full impairment of its RMB 30.0 million ($4.5 million) investment in the film Mozart from Space based on projected box office results and distribution costs. (See Note 23(e).) In 2020, the Company recorded a write-down of $1.2 million in Asset Impairments related to content-related assets which became impaired in the year. No such write-downs including asset impairments were incurred in 2021.

(2)

In 2022, the Company recorded write-downs of $0.9 million, net of a recovery of $0.2 million in Costs and Expenses Applicable to Technology Sales. The write-downs recorded during the year ended December 31, 2022 include $0.4 million related to excess and damaged inventory and $0.3 million recorded to reduce the carrying value of service parts held in Russia. For the years ended December 31, 2021 and 2020, the Company recorded write-downs of $0.9 million and $3.6 million, respectively, in Costs and Expenses Applicable to Technology Sales to reduce the carrying value of excess inventory.

(3)

In 2022, the Company recorded charges of $1.0 million (2021 — $0.4 million; 2020 — $1.8 million) in Costs and Expenses Applicable to Technology Rentals mostly related to the write-downs of leased xenon-based digital systems which were taken out of service in connection with exhibitor customer upgrades to laser-based digital systems, as well as an IMAX System that was removed from its existing location.

(4)

In 2022, the Company recorded impairment losses of $0.8 million (2021 — $0.2 million) related to the write-down of DMR and documentary film assets. In 2020, the Company recorded impairment losses of $10.8 million principally to write-down the carrying value of certain documentary, alternative content film assets and DMR related film assets due to a decrease in projected box office totals and related revenues based on management’s regular quarterly recoverability assessments.

(e)

Significant non-cash investing activities


	Years Ended December 31,
(In thousands of U.S. Dollars)		2022			2021				2020
Net increase (decrease) in accruals related to:
Investment in equipment supporting joint revenue sharing arrangements	$		790	$		1,009		$		(1,888	)
Acquisition of other intangible assets			30			(891	)			792
Purchases of property, plant and equipment(1)			311			(188	)			158
	$		1,131	$		(70	)	$		(938	)

(1)

See Note 7 for supplemental disclosure of noncash leasing activities.

(f)

Significant non-cash financing activities

In the fourth quarter of 2022, the Company recognized a $2.0 million liability related to repurchase of its common shares, which were not settled as of December 31, 2022 and were related on the Consolidated Balance Sheets within Accrued and Other Liabilities.

Revenue from Contracts with Customers

12 Months Ended

Dec. 31, 2022

Revenue from Contract with Customer [Abstract]

Revenue from Contracts with Customers

21. Revenue from Contracts with Customers

(a)

Disaggregated Information About Revenue

The following tables summarize the Company’s revenues by type and reportable segment for the years ended December 31, 2022, 2021, and 2020:


	Year Ended December 31, 2022
	Revenue from
	Contracts with Customers
(In thousands of U.S. Dollars)	Fixed consideration		Variable consideration		Revenue from Lease Arrangements		Finance Income		Total
Technology sales
IMAX Systems(1)	$	43,704	$	7,268	$	3,479	$	—	$	54,451
Joint Revenue Sharing Arrangements, fixed fees		—		—		4,804		—		4,804
Other Theater Business		6,255		—		—		—		6,255
All Other		3,546		102		—		—		3,648
Sub-total		53,505		7,370		8,283		—		69,158
Image enhancement and maintenance services
IMAX DMR		—		94,867		—		—		94,867
IMAX Maintenance		56,608		—		—		—		56,608
Film Distribution		554		2,598		—		—		3,152
Film Post-Production		3,783		—		—		—		3,783
All Other		1,178		1,791		—		—		2,969
Sub-total		62,123		99,256		—		—		161,379
Technology rentals
Joint Revenue Sharing Arrangements, contingent rent		—		—		61,768		—		61,768
All Other		—		—		18		—		18
Sub-total		—		—		61,786		—		61,786
Finance income
IMAX Systems		—		—		—		8,482		8,482
Total	$	115,628	$	106,626	$	70,069	$	8,482	$	300,805


	Year Ended December 31, 2021
	Revenue from
	Contracts with Customers
(In thousands of U.S. Dollars)	Fixed consideration		Variable consideration		Revenue from Lease Arrangements		Finance Income		Total
Technology sales
IMAX Systems(1)	$	37,900	$	5,576	$	11,392	$	—	$	54,868
Joint Revenue Sharing Arrangements, fixed fees		—		—		5,406		—		5,406
Other Theater Business		2,363		—		—		—		2,363
All Other		3,475		41		—		—		3,516
Sub-total		43,738		5,617		16,798		—		66,153
Image enhancement and maintenance services
IMAX DMR		—		70,659		—		—		70,659
IMAX Maintenance		53,339		—		—		—		53,339
Film Distribution		205		1,259		—		—		1,464
Film Post-Production		4,260		—		—		—		4,260
All Other		377		1,049		—		—		1,426
Sub-total		58,181		72,967		—		—		131,148
Technology rentals
Joint Revenue Sharing Arrangements, contingent rent		—		—		46,184		—		46,184
All Other		—		—		606		—		606
Sub-total		—		—		46,790		—		46,790
Finance income
IMAX Systems		—		—		—		10,792		10,792
Total	$	101,919	$	78,584	$	63,588	$	10,792	$	254,883


	Year Ended December 31, 2020
	Revenue from
	Contracts with Customers
(In thousands of U.S. Dollars)	Fixed consideration		Variable consideration		Revenue from Lease Arrangements		Finance Income		Total
Technology sales
IMAX Systems(1)	$	33,869	$	5,799	$	4,271	$	—	$	43,939
Joint Revenue Sharing Arrangements, fixed fees		—		—		2,056		—		2,056
Other Theater Business		1,666		—		—		—		1,666
All Other		1,957		110		—		—		2,067
Sub-total		37,492		5,909		6,327		—		49,728
Image enhancement and maintenance services
IMAX DMR		—		28,265		—		—		28,265
IMAX Maintenance		21,999		—		—		—		21,999
Film Distribution		3,000		1,841		—		—		4,841
Film Post-Production		3,878		—		—		—		3,878
All Other		—		335		—		—		335
Sub-total		28,877		30,441		—		—		59,318
Technology rentals
Joint Revenue Sharing Arrangements, contingent rent		—		—		17,841		—		17,841
Sub-total		—		—		17,841		—		17,841
Finance income
IMAX Systems		—		—		—		10,116		10,116
Total	$	66,369	$	36,350	$	24,168	$	10,116	$	137,003

(1)

Includes revenues earned from sale and sales-type lease arrangements involving new and upgraded IMAX Systems, as well as the impact of renewals and amendments to existing system arrangements.

(b)

Deferred Revenue

IMAX System sale and lease arrangements include a requirement for the Company to provide maintenance services over the life of the arrangement, subject to a consumer price index adjustment each year. In circumstances where customers prepay the entire term’s maintenance fee, additional payments are due to the Company for the years after its extended warranty and maintenance obligations expire. Payments upon renewal each year are either prepaid or made in arrears and can vary in frequency from monthly to annually. As of December 31, 2022, $21.0 million of consideration has been deferred in relation to outstanding maintenance services to be provided on existing maintenance contracts (December 31, 2021 — $20.2 million and 2020 — $21.6 million). Maintenance revenue is recognized evenly over the contract term which coincides with the period over which maintenance services are provided. In the event of customer default, any payments made by the customer may be retained by the Company.

In instances where the Company receives consideration prior to satisfying its performance obligations, the recognition of revenue is deferred. The majority of the deferred revenue balance relates to payments received by the Company for IMAX Systems where control of the system has not transferred to the customer. The deferred revenue balance related to an individual system increases as progress payments are made and is then derecognized when control of the system is transferred to the customer. Recognition dates are variable and depend on numerous factors, including some outside of the Company’s control.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI https://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Segment Reporting

12 Months Ended

Dec. 31, 2022

Segment Reporting [Abstract]

Segment Reporting

22. Segment Reporting

The Company’s Chief Executive Officer (“CEO”) is its Chief Operating Decision Maker (“CODM”), as such term is defined under U.S. GAAP. The CODM, along with other members of management, assess segment performance based on segment revenues and gross margins. Selling, general and administrative expenses, research and development costs, the amortization of intangible assets, provision for (reversal of) current expected credit losses, certain write-downs, interest income, interest expense, and income tax (expense) benefit are not allocated to the Company’s segments.

The Company has the following reportable segments: (i) IMAX DMR; (ii) Joint Revenue Sharing Arrangements (“JRSA”); (iii) IMAX Systems; (iv) IMAX Maintenance; (v) Other Theater Business; (vi) Film Distribution; and (vii) Film Post-Production. The Company's activities that do not meet the criteria to be considered a reportable segment are disclosed within All Other. The Company organizes its reportable segments into the following three categories, identified by the nature of the product sold or service provided:

(i)

IMAX Technology Network, which earns revenue based on contingent box office receipts and includes the IMAX DMR segment and contingent rent from the JRSA segment;

(ii)

IMAX Technology Sales and Maintenance, which includes results from the IMAX Systems, IMAX Maintenance and Other Theater Business segments, as well as fixed revenues from the JRSA segment; and

(iii)

Film Distribution and Post-Production, which includes activities related to the distribution of large-format documentary films, primarily to institutional theaters, and the distribution of exclusive experiences ranging from live performances to interactive events with leading artists and creators (through the Film Distribution segment) and the provision of film post-production and quality control services.

The Company presents its segment information at a disaggregated level to provide more relevant information to the users of its financial statements.

Transactions between the IMAX DMR segment and the Film Post-Production segment are valued at exchange value. Inter-segment profits are eliminated upon consolidation, as well as for the disclosures below.

In the first quarter of 2022, the Company's internal reporting was updated to reclassify the results of IMAX Enhanced®, an initiative to bring The IMAX Experience® into the home, out of the New Business Initiatives segment and into All Other for segment reporting purposes. IMAX Enhanced was the only component of the New Business Initiatives segment. Prior period comparatives have been reclassified to conform with the current period presentation.

In the first quarter of 2023, the Company has updated its internal reporting, including the information provided to the CODM to assess segment performance and allocate resources, and, as a result, will update its reportable segments in its quarterly report on Form 10-Q for the period ending March 31, 2023. Following these changes, the Company will have two reportable segments: (i) Technology Products and Services, which will principally include the sale, lease, and maintenance of IMAX Systems, previously included within the JRSA, IMAX Systems, IMAX Maintenance, Other Theater Business segments, and (ii) Content Solutions, which will principally include content enhancement and distribution services, previously included within the IMAX DMR, Film Distribution and Film Post-Production segments. The Company’s activities that do not meet the criteria to be considered a reportable segment will be reported within All Other.

(a)

Segment Financial Information

The following table presents the Company’s revenue and gross margin (margin loss) by category and reportable segment for the years ended December 31, 2022, 2021, and 2020:


	Years Ended December 31,
	Revenue(1)						Gross Margin (Margin Loss)
(In thousands of U.S. Dollars)	2022		2021		2020		2022			2021			2020
IMAX Technology Network
IMAX DMR	$	94,867	$	70,659	$	28,265	$	57,964		$	44,782		$	13,731
JRSA, contingent rent		61,768		46,184		17,841		37,394			21,761			(9,500	)
		156,635		116,843		46,106		95,358			66,543			4,231
IMAX Technology Sales and Maintenance
IMAX Systems(2)		62,933		65,660		54,055		35,129			34,981			24,816
JRSA, fixed fees		4,804		5,406		2,056		589			1,343			529
IMAX Maintenance		56,608		53,339		21,999		27,109			27,572			3,068
Other Theater Business(3)		6,255		2,363		1,666		807			398			(438	)
		130,600		126,768		79,776		63,634			64,294			27,975
Film Distribution and Post-Production
Film Distribution(4)		3,152		1,464		4,841		(7,668	)		(1,121	)		(9,840	)
Post-Production		3,783		4,260		3,878		1,540			1,969			(358	)
		6,935		5,724		8,719		(6,128	)		848			(10,198	)
Sub-total for reportable segments		294,170		249,335		134,601		152,864			131,685			22,008
All Other(5)		6,635		5,548		2,402		3,491			2,721			(468	)
Total	$	300,805	$	254,883	$	137,003	$	156,355		$	134,406		$	21,540

The following table presents the Company’s assets by category and reportable segment, reconciled to consolidated assets, as of December 31, 2022 and 2021:


	As of December 31,
(In thousands of U.S. Dollars)	2022		2021
IMAX Technology Network
IMAX DMR	$	48,755	$	48,299
JRSA, contingent rent		193,403		196,789
IMAX Technology Sales and Maintenance
IMAX Systems		255,458		249,672
JRSA, fixed fees		26,574		27,930
IMAX Maintenance		48,764		38,530
Other Theater Business		110		82
Film Distribution and Post-Production
Film Distribution		11,545		7,185
Post-Production		32,406		31,575
Sub-total for reportable segments		617,015		600,062
All Other(5)		29,686		1,420
Corporate and other non-segment specific assets		174,453		281,765
Total	$	821,154	$	883,247

The following table presents the Company’s amortization by category and reportable segment, and on a consolidated basis, for the years ended December 31, 2022, 2021, and 2020:


	Years Ended December 31,
(In thousands of U.S. Dollars)	2022		2021		2020
IMAX Technology Network
IMAX DMR	$	16,367	$	15,917	$	10,269
JRSA, contingent rent		23,920		24,208		26,076
IMAX Technology Sales and Maintenance
IMAX Systems		169		2,076		3,548
IMAX Maintenance		—		—		213
Film Distribution and Post-Production
Film Distribution		2,423		600		1,213
Post-Production		—		924		1,281
Sub-total for reportable segments		42,879		43,725		42,600
All Other(5)		309		—		11
Corporate and other non-segment specific assets		13,473		12,357		10,093
Total	$	56,661	$	56,082	$	52,704

The following table presents the Company’s write-downs, including asset impairments and credit loss expense (reversal), by category and reportable segment, and on a consolidated basis, for the years ended December 31, 2022, 2021, and 2020:


	Years Ended December 31,
(In thousands of U.S. Dollars)	2022		2021			2020
IMAX Technology Network
IMAX DMR	$	29	$	151		$	1,057
JRSA, contingent rent		973		364			1,784
IMAX Technology Sales and Maintenance
IMAX Systems		150		837			2,872
IMAX Maintenance		591		53			510
Film Distribution and Post-Production
Film Distribution(4)		819		—			9,997
Post-Production		—		—			—
Sub-total for reportable segments		2,562		1,405			16,220
All Other(5)		—		—			52
Corporate and other non-segment specific assets(6)		13,161		(3,592	)		20,065
Total	$	15,723	$	(2,187	)	$	36,337

The following table presents the Company’s purchases of fixed assets within the Consolidated Statements of Cash Flows by category and reportable segment for the years ended December 31, 2022, 2021, and 2020:


	Years Ended December 31,
(In thousands of U.S. Dollars)	2022		2021		2020
IMAX Technology Network
IMAX DMR	$	—	$	—	$	—
JRSA, contingent rent		19,803		10,094		6,654
IMAX Technology Sales and Maintenance
IMAX Systems		2,574		621		50
IMAX Maintenance		4		25		—
Film Distribution and Post-Production
Film Distribution		4,126		1,599		—
Post-Production		1,195		609		456
Sub-total for reportable segments		27,702		12,948		7,160
All Other(5)		9		—		—
Corporate and other non-segment specific assets		516		736		191
Total	$	28,227	$	13,684	$	7,351

(1)

The Company’s largest customer represents 12% of total Revenues as of December 31, 2022 (2021 ― 10%; 2020 ― 16%). No single customer comprises more than 10% of the Company’s total Accounts Receivable as of December 31, 2022 and 2021.

(2)

The revenue from this segment includes the initial upfront payments and the present value of fixed minimum payments from sale and sales-type lease arrangements of IMAX Systems, as well as the present value of estimated variable consideration from sales of IMAX Systems. To a lesser extent, the revenue from this segment also includes finance income associated with these revenue streams.

(3)

The revenue from this segment principally includes after-market sales of IMAX projection system parts and 3D glasses.

(4)

For the year ended December 31, 2022, the Company recorded an impairment loss of $0.8 million related to the write-down of documentary film assets. During the year ended December 31, 2020, Film Distribution segment results were significantly influenced by impairment losses of $10.0 million, to write-down the carrying value of certain documentary and alternative content film assets due to a decrease in projected box office totals and related revenues based on management’s regular quarterly recoverability assessments. No such impairment losses were incurred in 2021.

(5)

All Other includes the results from IMAX Enhanced, SSIMWAVE, and other ancillary activities. In the first quarter of 2022, the Company's internal reporting was updated to reclassify the results of IMAX Enhanced out of the New Business Initiatives segment into All Other for segment reporting purposes. Prior period comparatives have been revised to conform with the current period presentation. (See Note 5 for additional information related to the Company's acquisition of SSIMWAVE.)

(6)

During the year ended December 31, 2022, includes provision of current expected credit losses of $8.5 million (2021 ― net reversal of $4.0 million; 2020 ― provision of $18.6 million). (See Note 6.) In 2022, the Company recognized a full impairment of its RMB 30.0 million ($4.5 million) investment in the film Mozart from Space based on projected box office results and distribution costs. (See Note 23(e).) In 2020, the Company recorded a write-down of $1.2 million in Asset Impairments related to content-related assets which became impaired in the year. No such impairment losses were incurred in 2021. These amounts are excluded from the measurement of the Company’s segment performance.

(b)

Geographic Information

Revenue by geographic area is based on the location of the customer. Revenue related to IMAX DMR is presented based upon the geographic location of the IMAX System that exhibit the remastered films. IMAX DMR revenue is generated through contractual relationships with studios and other third parties and these may not be in the same geographical location as the IMAX System.

The following table summarizes the Company’s revenues by geographic area for the years ended December 31, 2022, 2021, and 2020:


	Years Ended December 31,
(In thousands of U.S. Dollars)	2022		2021		2020
United States	$	107,734	$	73,499	$	30,157
Greater China		73,330		112,801		52,331
Asia (excluding Greater China)		47,145		23,682		20,090
Western Europe		40,245		20,942		13,683
Latin America		9,418		3,601		6,114
Canada		7,550		3,266		1,365
Russia/the CIS & Ukraine(1)		2,849		7,308		2,927
Rest of the World		12,534		9,784		10,336
Total	$	300,805	$	254,883	$	137,003

(1)

In addition to Russia, the CIS includes Azerbaijan, Belarus, Kazakhstan, and Kyrgyzstan. Commencing in March 2022, in response to the ongoing conflict between Russia and Ukraine and resulting sanctions, the Company suspended its operations in Russia and Belarus. As of December 31, 2022, the IMAX network includes 54 systems in Russia, eight systems in Ukraine, and one system in Belarus.

No single country in the Rest of the World, Western Europe, Latin America, and Asia (excluding Greater China) classifications comprise more than 10% of total revenue.

The following table presents the breakdown of Property, Plant and Equipment by geography as of December 31, 2022 and 2021:


	As of December 31,
(In thousands of U.S. Dollars)		2022		2021
United States		$	94,505	$	91,856
Greater China			86,665		100,182
Canada			36,385		32,643
Western Europe			20,132		21,684
Asia (excluding Greater China)			10,471		9,463
Rest of the World			4,738		4,525
Total		$	252,896	$	260,353

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8981-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
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-Paragraph 40
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (e)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 26
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8844-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 15
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8657-108599

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI https://asc.fasb.org/topic&trid=2134510

+ Details

Financial Instruments

12 Months Ended

Dec. 31, 2022

Investments, All Other Investments [Abstract]

Financial Instruments

23. Financial Instruments

(a)

Financial Instruments

The Company maintains cash with various major financial institutions. The Company’s cash is invested with highly rated financial institutions. The Company’s $97.4 million balance of cash and cash equivalents as of December 31, 2022 (December 31, 2021 — $189.7 million) includes $79.7 million in cash held outside of Canada (December 31, 2021 — $102.1 million), of which $43.7 million was held in the PRC (December 31, 2021 — $76.3 million).

(b)

Fair Value Measurements

The carrying values of the Company’s Cash and Cash Equivalents, Accounts Receivable, Accounts Payable, and Accrued Liabilities due within one year approximate their fair values due to the short-term maturity of these instruments. Including these instruments, the Company’s financial instruments consist of the following:


	As of December 31, 2022						As of December 31, 2021
(In thousands of U.S. Dollars)	Carrying Amount			Estimated Fair Value			Carrying Amount			Estimated Fair Value
Level 1
Cash and cash equivalents(1)	$	97,401		$	97,401		$	189,711		$	189,711
Equity securities(2)		1,035			1,035			1,087			1,087
Level 2
Net financed sales receivables(3)	$	101,052		$	100,059		$	112,657		$	112,662
Net investment in sales-type leases(3)		28,332			27,972			28,392			28,407
Equity securities(1)		1,000			1,000			1,000			1,000
COLI(4)		3,398			3,398			3,275			3,275
Foreign exchange contracts — designated forwards(2)		(649	)		(649	)		79			79
Wells Fargo Credit Facility borrowings(1)		(25,000	)		(25,000	)		—			—
HSBC China Facility borrowings(1)		(12,496	)		(12,496	)		—			—
Bank of China Facility borrowings(1)		(374	)		(374	)		(3,612	)		(3,612	)
Federal Economic Development Loan(3)		(1,782	)		(1,782	)	N/A			N/A
Convertible Notes(5)		(230,000	)		(196,717	)		(230,000	)		(223,100	)
Level 3
Interest in film classified as a financial instrument(6)	$	—		$	—		$	—		$	—

(1)

Recorded at cost, which approximates fair value.

(2)

Fair value is determined using quoted prices in active markets.

(3)

Fair value is estimated based on discounting future cash flows at currently available interest rates with comparable terms.

(4)

Measured at cash surrender value, which approximates fair value.

(5)

Fair value is determined using quoted market prices that are observable in the market or that could be derived from observable market data.

(6)

Recorded at amortized cost less impairment losses. Inputs used in the calculation of estimated fair value include management's projection of future box office and ancillary receipts for the film net of distribution costs and other costs in accordance with the investment agreement. See 23(e) below.

(c)

Foreign Exchange Risk Management

The Company is exposed to market risk from changes in foreign currency rates.

A majority of the Company’s revenues is denominated in U.S. Dollars while a significant portion of its costs and expenses is denominated in Canadian Dollars. A portion of the Company’s net U.S. Dollar cash is converted to Canadian Dollars to fund Canadian Dollar expenses through the spot market. In China and Japan, the Company has ongoing operating expenses related to its operations in RMB and Japanese Yen, respectively. Net cash flows are converted to and from U.S. Dollars through the spot market. The Company also has cash receipts under leases denominated in RMB, Japanese Yen, Canadian Dollars, and Euros which are converted to U.S. Dollars through the spot market. In addition, because IMAX films generate box office in 87 different countries, unfavorable exchange rates between applicable local currencies and the U.S. Dollar could have an impact on box office receipts and the Company’s revenues and results of operations. The Company’s policy is to not use any financial instruments for trading or other speculative purposes.

The Company has entered into a series of foreign currency forward contracts to manage the risks associated with the volatility of foreign currencies. Certain of these foreign currency forward contracts met the criteria required for hedge accounting under the Derivatives and Hedging Topic of the FASB ASC at inception, and continue to meet hedge effectiveness tests as of December 31, 2022 (the “Foreign Currency Hedges”), with settlement dates throughout 2023. Foreign currency derivatives are recognized and measured in the Consolidated Balance Sheets at fair value. Changes in the fair value (i.e., gains or losses) are recognized in the Consolidated Statements of Operations except for derivatives designated and qualifying as foreign currency cash flow hedging instruments. The Company currently has cash flow hedging instruments associated with Selling, General and Administrative Expenses. For foreign currency cash flow hedging instruments related to Selling, General and Administrative Expenses, the effective portion of the gain or loss in a hedge of a forecasted transaction is reported in Accumulated Other Comprehensive (Loss) Income and reclassified to the Consolidated Statements of Operations when the forecasted transaction occurs. Any ineffective portion is recognized immediately in the Consolidated Statements of Operations.

The following tabular disclosures reflect the impact that derivative instruments and hedging activities have on the Company’s Consolidated Financial Statements:

Notional value of foreign exchange contracts:


	As of December 31,
(In thousands of U.S. Dollars)	2022		2021
Derivatives designated as hedging instruments:
Foreign exchange contracts — Forwards	$	24,707	$	26,702

Fair value of derivatives in foreign exchange contracts:


		As of December 31,
(In thousands of U.S. Dollars)	Balance Sheet Location	2022			2021
Derivatives designated as hedging instruments:
Foreign exchange contracts — Forwards	Other assets	$	50		$	184
	Accrued and other liabilities		(699	)		(105	)
		$	(649	)	$	79

Derivatives in foreign currency hedging relationships are as follows:


		Years Ended December 31,
(In thousands of U.S. Dollars)		2022			2021		2020
Foreign exchange contracts	Derivative (Loss) Gain
— Forwards	Recognized in OCI
	(Effective Portion)	$	(1,323	)	$	468	$	550

	Location of Derivative (Loss) Gain
	Reclassified from AOCI	Years Ended December 31,
(In thousands of U.S. Dollars)	(Effective Portion)	2022			2021		2020
Foreign exchange contracts	Selling, general and
— Forwards	administrative expenses	$	(596	)	$	1,707	$	(578	)
	Inventories		—			—		(26	)
		$	(596	)	$	1,707	$	(604	)


		Years Ended December 31,
(In thousands of U.S. Dollars)		2022		2021		2020
Foreign exchange contracts	Derivative Gain Recognized
— Forwards	In and out of OCI
	(Effective Portion)	$	—	$	—	$	17

Non-designated derivatives in foreign currency relationships are as follows:


		Years Ended December 31,
(In thousands of U.S. Dollars)		2022		2021			2020
Foreign exchange contracts	Derivative Gain Reclassified
— Forwards	From AOCI
	(Ineffective Portion)	$	—	$	(318	)	$	—


		Years Ended December 31,
(In thousands of U.S. Dollars)	Location of Derivative Gain	2022		2021		2020
Foreign exchange contracts	Selling, general and
— Forwards	administrative expenses	$	—	$	398	$	344

The Company's estimated net amount of the existing loss as of December 31, 2022 is $(0.6) million, which is expected to be reclassified to earnings within the next twelve months.

(d)

Investments in Equity Securities

As of December 31, 2022, the Consolidated Balance Sheets includes $1.0 million (December 31, 2021 — $1.1 million) of investments in equity securities.

On January 17, 2019, IMAX China (Hong Kong), Limited, a wholly-owned subsidiary of IMAX China, as an investor entered into a cornerstone investment agreement with Maoyan Entertainment (“Maoyan”) (as the issuer) and Morgan Stanley Asia Limited (as a sponsor, underwriter and the underwriters’ representative). Pursuant to this agreement, IMAX China (Hong Kong), Limited agreed to invest $15.2 million to subscribe for a certain number of shares of Maoyan at the final offer price pursuant to the global offering of the share capital of Maoyan, and this investment would be subject to a lock-up period of six months following the date of the global offering. On February 4, 2019, Maoyan completed its global offering, upon which, IMAX China (Hong Kong), Limited became a less than 1% shareholder in Maoyan. In February 2021, IMAX China (Hong Kong), Limited sold all of its 7,949,000 shares of Maoyan for gross proceeds of $17.8 million, and recognized $5.2 million gain in the Consolidated Statements of Operations.

The Company has an investment of $1.0 million (December 31, 2021 — $1.0 million) in the shares of an exchange traded fund. This investment is classified as an equity investment.

As of December 31, 2022, the Company held investments in the preferred shares of enterprises which meet the criteria for classification as an equity security carried at historical cost, net of impairment charges. The carrying value of these equity security investments was $1.0 million as of December 31, 2022 (December 31, 2021 — $1.0 million) and is recorded in Other Assets.

(e) Interest in Film

On January 10, 2022, IMAX (Shanghai) Culture and Technology Co., Ltd, a wholly-owned subsidiary of IMAX China, entered into a joint film investment agreement with Wanda Film (Horgos) Co. Ltd. to invest RMB 30.0 million ($4.7 million) in the movie Mozart from Space, which was released on July 15, 2022. Pursuant to the investment agreement, IMAX (Shanghai) Culture and Technology Co., Ltd. has the right to receive a share of the profits or losses of the film distribution. IMAX (Shanghai) Culture and Technology Co., Ltd.'s commitment is limited to its investment and has no further obligation if the actual movie production cost exceeds the original budget. The investment meets the criteria for classification as a financial asset. The investment is measured at amortized cost less impairment losses and is recorded within Other Assets in the Consolidated Balance Sheets.

During the second quarter of 2022, the Company recognized a full impairment of its RMB 30.0 million ($4.5 million) investment in Mozart from Space based on projected box office results and distribution costs.

Employees Pension and Postretirement Benefits

12 Months Ended

Dec. 31, 2022

Retirement Benefits [Abstract]

Employees Pension and Postretirement Benefits

24. Employee's Pension and Postretirement Benefits

(a)

Defined Benefit Plan

The Company has an unfunded defined benefit pension plan, the Supplemental Executive Retirement Plan (the “SERP”), covering its CEO, Richard L. Gelfond. Under the terms of the SERP, if Mr. Gelfond's employment is terminated other than for cause (as defined in his employment agreement), he is entitled to receive SERP benefits in the form of a lump sum payment. SERP benefit payments to Mr. Gelfond are subject to a deferral for six months after the termination of his employment, at which time Mr. Gelfond will be entitled to receive interest on the deferred amount credited at the applicable federal rate for short-term obligations. Pursuant to an amendment to his employment agreement dated September 19, 2022, the term of Mr. Gelfond's employment was extended through December 31, 2025, although Mr. Gelfond has not informed the Company that he intends to retire at that time. Under the terms of his employment agreement, as amended, the total benefit payable to Mr. Gelfond under the SERP is fixed at $20.3 million.

As of December 31, 2022 and 2021, the projected benefit obligation for SERP are as follows:


	Years Ended December 31,
(In thousands of U.S. Dollars)	2022			2021
Projected benefit obligation:
Obligation, beginning of period	$	20,056		$	20,116
Interest cost		160			72
Actuarial gain		(2,901	)		(132	)
Obligation, end of period and unfunded status	$	17,315		$	20,056

As of December 31, 2022, 2021, and 2020, the following amounts related to the SERP were recorded on the Company’s Consolidated Balance Sheets within Accumulated Other Comprehensive (Loss) Income and will be recognized as components of net periodic benefit cost in future periods:


		As of December 31,
(In thousands of U.S. Dollars)	2022				2021				2020
Unrealized actuarial gain	$		(3,580	)	$	(679	)	$		(547	)
Unamortized prior service cost			—			184				369
Net periodic benefit costs to be recognized in future periods	$		(3,580	)	$	(495	)	$		(178	)

For the years ended December 31, 2022, 2021, and 2020, the components of pension expense related to the SERP were as follows:


	Years ended December 31,
(In thousands of U.S. Dollars)	2022		2021		2020
Interest cost	$	160	$	72	$	379
Amortization of prior service cost		184		185		87
Pension expense	$	344	$	257	$	466

The following assumptions were used to determine the SERP obligation and any related costs as of and for the years ended December 31, 2022, 2021, and 2020:

As of December 31,

2022

2021

2020

Discount rate

4.55

0.80

0.36

Lump sum interest rate:

First 25 years

N/A

N/A

N/A

First 20 years

N/A

N/A

N/A

Thereafter

N/A

N/A

N/A

Cost of living adjustment on benefits

N/A

N/A

N/A

No contributions were made for the SERP during 2022. The Company expects interest costs of $0.8 million to be recognized as a component of pension cost for the year ended December 31, 2023.

(b)

Defined Contribution Pension Plan

The Company also maintains defined contribution plans for its employees, including its executive officers. The Company makes contributions to these plans on behalf of employees in an amount up to 5% of their base salary subject to certain prescribed maximums. During 2022, the Company contributed and recorded expense of $1.1 million (2021 — $1.1 million; 2020 — $1.1 million) to its Canadian plan and $0.7 million (2021 — $0.5 million; 2020 — $0.6 million) to its defined contribution employee plan under Section 401(k) of the U.S. Internal Revenue Code.

(c)

Postretirement Benefits - Executives

The Company has an unfunded postretirement plan for Mr. Gelfond and Bradley J. Wechsler, former Chairman of the Company’s Board of Directors (the “Executive Postretirement Benefit Plan”). The Executive Postretirement Benefit Plan provides that the Company will maintain health benefits for Messrs. Gelfond and Wechsler until they become eligible for Medicare and, thereafter, the Company will provide Medicare supplemental coverage as selected by Messrs. Gelfond and Wechsler. Mr. Wechsler retired from the Company’s Board of Directors on June 9, 2021. The Company maintained Mr. Wechsler’s health benefits through December 31, 2021, and thereafter is providing him with Medicare supplemental coverage or its equivalent value.

As of December 31, 2022 and 2021, the Company’s Consolidated Balance Sheets include the following amounts within Accrued and Other Liabilities related to the Executive Postretirement Benefit Plan:


	As of December 31,
(In thousands of U.S. Dollars)	2022			2021
Projected benefit obligation:
Obligation, beginning of year	$	662		$	710
Interest cost		18			16
Benefits paid		(8	)		(16	)
Actuarial gain		(215	)		(48	)
Obligation, end of year and unfunded status	$	457		$	662

For the years ended December 31, 2022, 2021, and 2020, the components of pension expense related to the Executive Postretirement Benefit Plan were as follows:


	Years Ended December 31,
(In thousands of U.S. Dollars)	2022		2021		2020
Interest cost	$	18	$	16	$	20
Amortization of actuarial gain		—		—		(17	)
Pension expense	$	18	$	16	$	3

As of December 31, 2022, 2021, and 2020, the following amounts related to the Executive Postretirement Benefit Plan were recorded on the Company’s Consolidated Balance Sheets within Accumulated Other Comprehensive (Loss) Income and will be recognized as components of net pension cost in future periods:


	As of December 31,
(In thousands of U.S. Dollars)	2022			2021			2020
Unrealized actuarial (gain) loss	$	(242	)	$	(27	)	$	21

As of December 31, 2022, 2021, and 2020, the weighted average assumptions used to determine the benefit obligation related to the Executive Postretirement Benefit Plan are as follows:


	As of December 31,
	2022			2021			2020
Discount rate		5.01	%		2.71	%		2.36	%

For the years ended December 31, 2022, 2021, and 2020, the weighted average assumptions used to determine the net postretirement benefit expense related to the Executive Postretirement Benefit Plan are as follows:


	Years Ended December 31,
	2022			2021			2020
Discount rate		2.71	%		2.36	%		3.13	%

The following benefit payments are expected to be made as per the current plan assumptions for the Executive Postretirement Benefit Plan in each of the next five years and thereafter following the December 31, 2022 balance sheet date:


(In thousands of U.S. Dollars)
2023	$	10
2024		10
2025		11
2026		23
2027		24
Thereafter		888
Total	$	966

(d)

Postretirement Benefits – Canadian Employees

The Company has an unfunded postretirement plan for its Canadian employees meeting specific eligibility requirements (the “Canadian Postretirement Benefit Plan”). The Company will provide eligible participants, upon retirement, with health and welfare benefits.

As of December 31, 2022 and 2021, the Company’s Consolidated Balance Sheets include the following amounts within Accrued and Other Liabilities related to the Canadian Postretirement Benefit Plan:


	As of December 31,
(In thousands of U.S. Dollars)	2022			2021
Projected benefit obligations:
Obligation, beginning of year	$	1,702		$	1,862
Interest cost		46			42
Benefits paid		(155	)		(118	)
Actuarial gain		(539	)		(92	)
Unrealized foreign exchange (gain) loss		(78	)		8
Obligation, end of year and unfunded status	$	976		$	1,702

For the years ended December 31, 2022, 2021, and 2020, the components of pension expense related to the Canadian Postretirement Benefit Plan were as follows:


	Years Ended December 31,
(In thousands of U.S. Dollars)	2022		2021		2020
Interest cost	$	46	$	42	$	47
Pension expense	$	46	$	42	$	47

The Company expects interest costs of less than $0.1 million to be recognized as a component of benefit cost for the year ended December 31, 2023.

As of December 31, 2022, 2021, and 2020, the following amounts related to the Canadian Postretirement Benefit Plan were recorded on the Company’s Consolidated Balance Sheets within Accumulated Other Comprehensive (Loss) Income and will be recognized as components of net pension cost in future periods:


	As of December 31,
(In thousands of U.S. Dollars)	2022			2021		2020
Unrealized actuarial (gain) loss	$	(354	)	$	185	$	277

As December 31, 2022, 2021, and 2020, the weighted average assumptions used to determine the benefit obligation related to the Canadian Postretirement Benefit Plan are as follows:


	As of December 31,
	2022			2021			2020
Discount rate		5.00	%		2.80	%		2.30	%

For the years ended December 31, 2022, 2021, and 2020, the weighted average assumptions used to determine the net postretirement benefit expense related to the Canadian Postretirement Benefit Plan are as follows:


	Years Ended December 31,
	2022			2021			2020
Discount rate		2.80	%		2.30	%		3.05	%

The following benefit payments are expected to be made as per the current plan assumptions for the Canadian Postretirement Benefit Plan in each of the next five years and thereafter following the December 31, 2022 balance sheet date:


(In thousands of U.S. Dollars)
2023	$	94
2024		94
2025		95
2026		87
2027		86
Thereafter		1,082
Total	$	1,538

(e)

Deferred Compensation Benefit Plan

The Company maintained a nonqualified deferred compensation benefit plan (the “Retirement Plan”) covering the former CEO of IMAX Entertainment and Senior Executive Vice President of the Company. Under the terms of the Retirement Plan, the benefits were due to vest in full if the executive incurred a separation from service from the Company (as defined therein). In 2018, the executive incurred a separation from service from the Company, and as such, the Retirement Plan benefits became fully vested as of December 31, 2018.

As of December 31, 2022, the benefit obligation related to the Retirement Plan was $3.9 million (December 31, 2021 — $3.8 million) and is recorded on the Company’s Consolidated Balance Sheets within Accrued and Other Liabilities. As the Retirement Plan is fully vested, the benefit obligation is measured at the present value of the benefits expected to be paid in the future with the accretion of interest recognized in the Consolidated Statements of Operations within Retirement Benefits Non-Service Expense.

The Retirement Plan is funded by an investment in company-owned life insurance (“COLI”), which is recorded at its fair value on the Company’s Consolidated Balance Sheets within Prepaid Expenses. As of December 31, 2022, fair value of the COLI asset was $3.4 million (December 31, 2021 — $3.3 million). Gains and losses resulting from changes in the cash surrender value of the COLI asset are recognized in the Consolidated Statements of Operations within Realized and Unrealized Investment Gains (Losses).

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 55
-Paragraph 17
-URI https://asc.fasb.org/extlink&oid=123450688&loc=d3e4179-114921

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section S99
-Paragraph 2
-URI https://asc.fasb.org/extlink&oid=21916913&loc=d3e273930-122802

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)(i)
-URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (o)
-URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (p)
-URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 70
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=49170846&loc=d3e28014-114942

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-URI https://asc.fasb.org/topic&trid=2235017

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 60
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=6414203&loc=d3e39689-114964

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)(iv)(03)
-URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (q)
-URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (r)(1)
-URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)(iii)
-URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (l)
-URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (r)(2)
-URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

+ Details

Government Assistance

12 Months Ended

Dec. 31, 2022

Government Assistance [Abstract]

Government Assistance

25. Government Assistance

(a)

COVID-19 Relief

The Company has applied for and received financial support under COVID relief legislation that has been enacted in the countries in which it operates. For the year ended December 31, 2022, the Company recognized $0.4 million (2021 — $3.8 million; 2020 — $7.1 million) in benefits principally from the Hardest-Hit Businesses Recovery program, and recorded such amounts as reductions to Selling, General and Administrative Expenses ($0.3 million) and Costs and Expenses Applicable to Revenues ($0.1 million).

For the years ended December 31, 2021 and 2020, the Company recognized $3.8 million and $7.1 million, respectively, in benefits from various COVID-19 government relief programs, and recorded such amounts as reductions to Selling, General and Administrative Expenses ($2.9 million and $6.0 million, respectively), Costs and Expenses Applicable to Revenues ($0.9 million and $1.0 million, respectively) and Research and Development ($nil and $0.1 million, respectively). These benefits are principally under the Canada Emergency Wage Subsidy program (“CEWS” program), which expired in October 2021.

(b)

Federal Economic Development Loan

SSIMWAVE entered into a contribution agreement with the Federal Economic Development Agency for Southern Ontario (the “Federal Economic Development Loan” on May 29, 2019, under which SSIMWAVE may receive up to $4.2 million CAD ($3.1 million) by way of repayable contributions toward certain eligible projects costs. The contributions under the agreement cover 35% of the eligible and supported costs of SSIMWAVE between January 10, 2019 and December 31, 2022. The contributions are repayable over 60 months, with repayments estimated to begin in January 2024, with an annual interest rate of 0%. As of December 31, 2022, SSIMWAVE has received contributions of CAD$3.8 million ($2.8 million) from the Federal Economic Development Loan.

Non-Controlling Interests

12 Months Ended

Dec. 31, 2022

Temporary Equity Disclosure [Abstract]

Non-Controlling Interests

26. Non-Controlling Interests

(a)

IMAX China Non-Controlling Interest

As of December 31, 2022, the Company indirectly owns 71.73% of IMAX China, whose shares trade on the Hong Kong Stock Exchange (December 31, 2021 — 71.11%). IMAX China remains a consolidated subsidiary of the Company. The balance of non-controlling interest in IMAX China as of December 31, 2022 is $65.7 million (December 31, 2021 — $73.5 million). The net income attributable to non-controlling interest of IMAX China for the year ended December 31, 2022 is $3.0 million (2021 — income of $12.8 million; 2020 — loss of $(8.6) million).

(b)

Other Non-Controlling Interests

The Company’s Original Film Fund was established in 2014 to co-finance a portfolio of 10 original large-format films. The initial investment in the Original Film Fund was committed by a third party in the amount of $25.0 million, with the possibility of contributing additional funds. The Company has contributed $9.0 million to the Original Film Fund since 2014, and has reached its maximum contribution. Through December 31, 2022, the Original Film Fund has invested $22.3 million toward the development of original films. The related production, financing and distribution agreement includes put and call rights relating to change of control of the rights, title and interest in the co-financed pictures.

(c)

Non-Controlling Interest in Temporary Equity

The following summarizes the movement of the non-controlling interest in temporary equity, in the Original Film Fund for the years ended December 31, 2022, 2021 and 2020:


(In thousands of U.S. Dollars)
Balance as of January 1, 2020	$	5,908
Return of capital to non-controlling interests		(10	)
Net loss		(5,139	)
Balance as of December 31, 2020		759
Net loss		(1	)
Balance as of December 31, 2021		758
Net loss		(36	)
Balance as of December 31, 2022	$	722

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2022

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Principles of Consolidation

(a)

Principles of Consolidation

As of December 31, 2022 and 2021, total assets and liabilities of the Company's consolidated VIEs are as follows:


	December 31,		December 31,
(In thousands of U.S. Dollars)	2022		2021
Total assets	$	1,523	$	1,576
Total liabilities	$	248	$	259

Estimates and Assumptions

(b)

Estimates and Assumptions

Cash and Cash Equivalents

(c)

Cash and Cash Equivalents

The Company considers all highly liquid investments convertible to a known amount of cash and with an original maturity of three months or less to be cash equivalents.

Receivable

(d)

Receivables

(See Note 6 for more information related to the Company’s receivables and current expected credit losses.)

Inventories

(e)

Inventories

Film Assets

(f)

Film Assets

Property, Plant and Equipment

(g)

Property, Plant and Equipment

Property, Plant and Equipment is recorded at cost and is depreciated on a straight-line basis over the estimated useful lives of the underlying assets as follows:


Theater system components(1)	—	Over the equipment’s expected useful life (7 to 20 years)
Camera equipment	—	Over a period between 5 to 10 years
Buildings	—	Over a period between 20 to 25 years
Office and product equipment	—	Over a period between 3 to 5 years
Leasehold improvements	—	Over the shorter of the initial term of the underlying lease plus any reasonably assured renewal
		periods, and the useful life of the asset

(1)

Includes equipment under joint revenue sharing arrangements.

Investment in Equity Securities

(h)

Investment in Equity Securities

Other Assets

(i)

Other Assets

Goodwill

(j)

Goodwill

Other Intangible Assets

(k)

Other Intangible Assets

Deferred Revenue

(l)

Deferred Revenue

Statutory Surplus Reserve

(m)

Statutory Surplus Reserve

Income Taxes

(n)

Income Taxes

Revenue Recognition

(o)

Revenue Recognition

IMAX Systems

Sales Arrangements

Constraints on the Recognition of Variable Consideration

•

The amount of consideration is highly susceptible to factors outside the entity’s influence;

•

The uncertainty about the amount of consideration is not expected to be resolved for a long period of time;

•

The Company’s experience (or other evidence) with similar types of contracts is limited, or that experience has limited predictive value; and

•

The entity has a practice of either offering a broad range of price concessions or changing the payment terms and conditions of similar contracts in similar circumstances.

Revenue Recognition Leases

Lease Arrangements

Revenue Recognition Finance Income

Finance Income

Improvements and Modifications

Costs and Expenses Applicable to Revenues - Technology Sales

Costs and Expenses Applicable to Revenues – Technology Sales

Costs and Expenses Applicable to Revenues - Technology Rentals

Costs and Expenses Applicable to Revenues – Technology Rentals

Terminations, Consensual Buyouts and Concessions

Maintenance And Extended Warranty Services

Maintenance and Extended Warranty Services

Films Revenue Recognition

IMAX DMR Services

Film Production Services

Film Distribution Services

Film Post-Production Services

Revenues from post-production film services are recognized within Revenues – Image Enhancement and Maintenance Services when performance of the contracted services is completed.

Software License and Subscription Services

Revenues from licenses and maintenance and support services are recognized within Revenues – Image Enhancement and Maintenance Services.

Leases

(p)

Leases

Research and Development Expense

(q)

Research and Development

Foreign Currency Translations

(r)

Foreign Currency Translation

Share-Based Compensation

(s)

Share-Based Compensation

Stock Options

(See Note 18(c) for the assumptions used to determine the fair value of the Company’s stock options.)

Restricted Share Units

Performance Stock Units

Share-Based Payment Awards to Non-Employees

Pension and Other Postretirement Plans

(t)

Pension Plans and Postretirement Benefits

Guarantees, Indemnifications and Warranties

(u)

Guarantees

Recently Issued Accounting Standards Not Yet Adopted

Adoption of New Accounting Policies

In July 2021, the FASB issued ASU No. 2021-05, “Leases (Topic 842): Lessors - Certain Leases with Variable Lease Payments” (“ASU 2021-05”), which requires sales-type or direct financing leases that have variable payments (that do not depend on a rate or an index) and result in a day-one loss to be classified as operating leases. When a lease is classified as operating, the lessor does not recognize a net investment in the lease, does not derecognize the underlying asset, and, therefore, does not recognize a selling profit or loss. The amendments are effective for annual periods beginning after December 15, 2021 including interim periods within those periods. Early adoption is permitted. The Company adopted ASU 2021-05 for the year ended December 31, 2022 and adoption did not have a material impact on the Company's Consolidated Financial Statements.

In October 2021, the FASB issued ASU No. 2021-08, “2021-08: Business Combinations (Topic 850): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers” (“ASU 2021-08”). ASU 2021-08 requires that an acquirer recognize and measure contract assets and contract liabilities (e.g., deferred revenue) acquired in a business combination in accordance with Topic 606, as opposed to at fair value. ASU 2021-08 is effective for fiscal years beginning after December 15, 2022, including interim periods within those periods. Early adoption is permitted. The Company elected to early adopt ASU 2021-08 in the third quarter of 2022 in connection with its acquisition of SSIMWAVE Inc. (see Note 5).

In November 2021, the FASB issued ASU No. 2021-10, “2021-10: Government Assistance (Topic 832): Disclosures by Business Entities about Government Assistance” (“ASU 2021-10”). The amendments in ASU 2021-10 require annual disclosures about transactions with a government that are accounted for by applying a grant or contribution accounting model by analogy. The amendments are effective for annual periods beginning after December 15, 2021. Early adoption is permitted. The Company adopted ASU 2021-10 for the year ended December 31, 2022 and has provided the required disclosures in Note 25.

Recently Issued FASB Accounting Standard Codification Updates Not Yet Adopted

In March 2020, the FASB issued ASU No. 2020-04, “Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting” (“ASU 2020-04”). The purpose of ASU 2020-04 is to provide optional expedients and exceptions for applying U.S. GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. ASU 2020-04 is effective for all entities from the beginning of an interim period that includes the issuance date of the ASU. An entity may elect to apply ASU 2020-04 prospectively through December 31, 2022. In October 2022, the FASB extended the temporary accounting relief to December 31, 2024 from the current sunset date of December 31, 2022. As of December 31, 2022, the Company is not party to any third party contracts that reference the London Interbank Offered Rate (LIBOR). Accordingly, the Company does not expect ASU 2020-04 to have a material effect on its Consolidated Financial Statements.

In March 2022, the FASB issued ASU No. 2022-02, “2022-02: Financial Instruments—Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures” (“ASU 2022-02”). ASU 2022-02 amends and eliminates the accounting guidance for Troubled Debt Restructurings by creditors, while enhancing disclosure requirements for certain loan refinancings and restructurings by creditors when a borrower is experiencing financial difficulty and requires for public business entities, to disclose current-period gross write offs by year of origination for financing receivables and net investments in leases. ASU 2022-02 is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. Early adoption is permitted. The Company will adopt ASU 2022-02 for the first quarter of 2023 and is in the process of evaluating the accounting and disclosure impact, if any, on the Company's Consolidated Financial Statements.

The Company considers the applicability and impact of all recently issued FASB accounting standard codification updates. Accounting standard updates that are not noted above were assessed and determined to be not applicable or not significant to the Company’s Consolidated Financial Statements for the year ended December 31, 2022.

Credit Risk

The Company’s internal credit quality classifications for theater operators are as follows:

•

Good Standing — The theater operator continues to be in good standing as payments and reporting are received on a regular basis.

•

Segment Reporting

(i)

IMAX Technology Network, which earns revenue based on contingent box office receipts and includes the IMAX DMR segment and contingent rent from the JRSA segment;

(ii)

IMAX Technology Sales and Maintenance, which includes results from the IMAX Systems, IMAX Maintenance and Other Theater Business segments, as well as fixed revenues from the JRSA segment; and

(iii)

Fair Value of Financial Instruments


	As of December 31, 2022						As of December 31, 2021
(In thousands of U.S. Dollars)	Carrying Amount			Estimated Fair Value			Carrying Amount			Estimated Fair Value
Level 1
Cash and cash equivalents(1)	$	97,401		$	97,401		$	189,711		$	189,711
Equity securities(2)		1,035			1,035			1,087			1,087
Level 2
Net financed sales receivables(3)	$	101,052		$	100,059		$	112,657		$	112,662
Net investment in sales-type leases(3)		28,332			27,972			28,392			28,407
Equity securities(1)		1,000			1,000			1,000			1,000
COLI(4)		3,398			3,398			3,275			3,275
Foreign exchange contracts — designated forwards(2)		(649	)		(649	)		79			79
Wells Fargo Credit Facility borrowings(1)		(25,000	)		(25,000	)		—			—
HSBC China Facility borrowings(1)		(12,496	)		(12,496	)		—			—
Bank of China Facility borrowings(1)		(374	)		(374	)		(3,612	)		(3,612	)
Federal Economic Development Loan(3)		(1,782	)		(1,782	)	N/A			N/A
Convertible Notes(5)		(230,000	)		(196,717	)		(230,000	)		(223,100	)
Level 3
Interest in film classified as a financial instrument(6)	$	—		$	—		$	—		$	—

(1)

Recorded at cost, which approximates fair value.

(2)

Fair value is determined using quoted prices in active markets.

(3)

Fair value is estimated based on discounting future cash flows at currently available interest rates with comparable terms.

(4)

Measured at cash surrender value, which approximates fair value.

(5)

Fair value is determined using quoted market prices that are observable in the market or that could be derived from observable market data.

(6)

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2022

Organization, Consolidation and Presentation of Financial Statements [Abstract]

VIEs Total Assets and Liabilities

As of December 31, 2022 and 2021, total assets and liabilities of the Company's consolidated VIEs are as follows:


	December 31,		December 31,
(In thousands of U.S. Dollars)	2022		2021
Total assets	$	1,523	$	1,576
Total liabilities	$	248	$	259

Summary of Estimated Useful Lives

Property, Plant and Equipment is recorded at cost and is depreciated on a straight-line basis over the estimated useful lives of the underlying assets as follows:


Theater system components(1)	—	Over the equipment’s expected useful life (7 to 20 years)
Camera equipment	—	Over a period between 5 to 10 years
Buildings	—	Over a period between 20 to 25 years
Office and product equipment	—	Over a period between 3 to 5 years
Leasehold improvements	—	Over the shorter of the initial term of the underlying lease plus any reasonably assured renewal
		periods, and the useful life of the asset

(1)

Includes equipment under joint revenue sharing arrangements.

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

+ References + Details

Acquisition (Tables)

12 Months Ended

Dec. 31, 2022

Business Combination and Asset Acquisition [Abstract]

Schedule of Subject to Revision Upon Completion of Valuation Procedures

The following table summarizes the allocation of the purchase price to the assets acquired and liabilities assumed as of December 31, 2022.


(In thousands of U.S. Dollars)
Purchase Price:
Cash payments	$	19,521
IMAX Share Consideration		1,947
Earn-Out Payment		1,750
Total Purchase Price	$	23,218
Allocation of Purchase Price:
Cash and cash equivalents	$	3,582
Accounts receivable		158
Property, plant and equipment		409
Intangible assets (see Note 14)		11,189
Other assets		293
Accounts payable and accrued liabilities		(1,092	)
Deferred revenue		(1,300	)
Federal economic development loan, net of unaccreted interest benefit		(1,772	)
Deferred tax liability		(2,037	)
Goodwill (see Note 14)		13,788
Total Purchase Price	$	23,218

Schedule of Allocation of Fair Value of Identifiable Intangible Assets

The allocation of the fair value of identified intangible assets is as follows:


(In thousands of U.S. Dollars)	Fair Value		Weighted Average Useful Life
Patent and trademarks		100	2 Years
Customer relationships		1,340	7 Years
Developed technology		5,779	4 to 7 Years
In-process research and development		3,810	Not yet in use
Non-compete agreement		160	4 Years
Total identifiable intangible assets	$	11,189

Receivables (Tables)

12 Months Ended

Dec. 31, 2022

Receivables [Abstract]

Summary of Allowance For Credit Losses Related to Accounts Receivable

The following tables summarize the activity in the allowance for credit losses related to Accounts Receivable for the years ended December 31, 2022 and 2021:


	Year Ended December 31, 2022
(In thousands of U.S. Dollars)	Theater Operators			Studios			Other			Total
Beginning balance	$	8,867		$	1,994		$	1,085		$	11,946
Current period provision (reversal), net		2,687			(128	)		585			3,144
Write-offs		(43	)		(128	)		(394	)		(565	)
Foreign exchange		(367	)		(39	)		—			(406	)
Ending balance	$	11,144		$	1,699		$	1,276		$	14,119

	Year Ended December 31, 2021
(In thousands of U.S. Dollars)	Theater Operators			Studios			Other			Total
Beginning balance	$	8,368		$	4,481		$	1,446		$	14,295
Current period provision (reversal), net		793			(1,913	)		(332	)		(1,452	)
Write-offs		(357	)		(551	)		(19	)		(927	)
Foreign exchange		63			(23	)		(10	)		30
Ending balance	$	8,867		$	1,994		$	1,085		$	11,946

Schedule of Financing Receivables

. As of December 31, 2022 and 2021, financing receivables consist of the following:


	December 31,			December 31,
(In thousands of U.S. Dollars)	2022			2021
Net investment in leases
Gross minimum payments due under sales-type leases	$	29,727		$	29,953
Unearned finance income		(619	)		(763	)
Present value of minimum payments due under sales-type leases		29,108			29,190
Allowance for credit losses		(776	)		(798	)
Net investment in leases		28,332			28,392
Financed sales receivables
Gross minimum payments due under financed sales		141,337			152,315
Unearned finance income		(29,340	)		(34,244	)
Present value of minimum payments due under financed sales		111,997			118,071
Allowance for credit losses		(10,945	)		(5,414	)
Net financed sales receivables		101,052			112,657
Total financing receivables	$	129,384		$	141,049

Net financed sales receivables due within one year	$	32,366		$	29,115
Net financed sales receivables due after one year		68,686			83,542
Total financed sales receivables	$	101,052		$	112,657

Schedule of Weighted-average Remaining Lease Term and Weighted-average Interest Rate


	December 31,			December 31,
	2022			2021
Weighted-average remaining lease term (in years)
Sales-type lease arrangements		9.0			9.6
Weighted-average interest rate
Sales-type lease arrangements		8.23	%		6.56	%
Financed sales receivables		8.79	%		8.79	%

Schedule of Net Investment In Leases by Credit Quality Indicator


(In thousands of U.S. Dollars)	By Origination Year
As of December 31, 2022	2022		2021		2020		2019		2018		Prior		Total
Net investment in leases:
Credit quality classification:
In good standing	$	4,148	$	6,969	$	2,494	$	1,977	$	—	$	1,016	$	16,604
Credit Watch		—		—		—		—		—		—		—
Pre-approved transactions		—		3,089		1,162		5,401		2,451		—		12,103
Transactions suspended		—		—		—		—		—		401		401
Total net investment in leases	$	4,148	$	10,058	$	3,656	$	7,378	$	2,451	$	1,417	$	29,108

(In thousands of U.S. Dollars)	By Origination Year
As of December 31, 2021	2021		2020		2019		2018		2017		Prior		Total
Net investment in leases:
Credit quality classification:
In good standing	$	11,030	$	3,991	$	7,973	$	2,574	$	823	$	1,928	$	28,319
Credit Watch		—		—		—		—		—		—		—
Pre-approved transactions		—		—		—		—		—		—		—
Transactions suspended		—		—		—		—		—		871		871
Total net investment in leases	$	11,030	$	3,991	$	7,973	$	2,574	$	823	$	2,799	$	29,190

Schedule of Financed Sale Receivables by Credit Quality Indicator


(In thousands of U.S. Dollars)	By Origination Year
As of December 31, 2022	2022		2021		2020		2019		2018		Prior		Total
Financed sales receivables:
Credit quality classification:
In good standing	$	10,252	$	8,643	$	6,280	$	8,541	$	9,854	$	39,912	$	83,482
Credit Watch		—		—		—		—		—		1,152		1,152
Pre-approved transactions		—		2,318		1,399		1,134		1,449		9,243		15,543
Transactions suspended		272		664		142		1,269		1,197		8,276		11,820
Total financed sales receivables	$	10,524	$	11,625	$	7,821	$	10,944	$	12,500	$	58,583	$	111,997

(In thousands of U.S. Dollars)	By Origination Year
As of December 31, 2021	2021		2020		2019		2018		2017		Prior		Total
Financed sales receivables:
Credit quality classification:
In good standing	$	12,520	$	8,251	$	10,593	$	13,278	$	12,615	$	47,950	$	105,207
Credit Watch		—		—		—		—		321		1,292		1,613
Pre-approved transactions		—		—		743		418		2,098		3,650		6,909
Transactions suspended		—		—		335		—		680		3,327		4,342
Total financed sales receivables	$	12,520	$	8,251	$	11,671	$	13,696	$	15,714	$	56,219	$	118,071

Schedule of Aging Analysis for Net Investment in Leases and Financed Sale Receivables

The following tables provide an aging analysis for the Company’s net investment in leases and financed sale receivables as of December 31, 2022 and 2021:


	As of December 31, 2022
(In thousands of U.S. Dollars)	Accrued and Current		30-89 Days		90+ Days		Billed		Unbilled		Recorded Receivable		Allowance for Credit Losses			Net
Net investment in leases	$	237	$	216	$	2,593	$	3,046	$	26,062	$	29,108	$	(776	)	$	28,332
Financed sales receivables		2,269		1,307		12,793		16,369		95,628		111,997		(10,945	)		101,052
Total	$	2,506	$	1,523	$	15,386	$	19,415	$	121,690	$	141,105	$	(11,721	)	$	129,384

	As of December 31, 2021
(In thousands of U.S. Dollars)	Accrued and Current		30-89 Days		90+ Days		Billed		Unbilled		Recorded Receivable		Allowance for Credit Losses			Net
Net investment in leases	$	225	$	156	$	1,267	$	1,648	$	27,542	$	29,190	$	(798	)	$	28,392
Financed sales receivables		1,750		989		8,378		11,117		106,954		118,071		(5,414	)		112,657
Total	$	1,975	$	1,145	$	9,645	$	12,765	$	134,496	$	147,261	$	(6,212	)	$	141,049

Schedule of Net Investment in Leases and Financed Sale Receivables with Billed Amounts Past Due Continues to Accrue Finance Income


	As of December 31, 2022
(In thousands of U.S. Dollars)	Accrued and Current		30-89 Days		90+ Days		Billed		Unbilled		Allowance for Credit Losses			Net
Net investment in leases	$	190	$	181	$	2,593	$	2,964	$	17,070	$	(230	)	$	19,804
Financed sales receivables		1,550		1,115		10,814		13,479		43,172		(1,587	)		55,064
Total	$	1,740	$	1,296	$	13,407	$	16,443	$	60,242	$	(1,817	)	$	74,868

	As of December 31, 2021
(In thousands of U.S. Dollars)	Accrued and Current		30-89 Days		90+ Days		Billed		Unbilled		Allowance for Credit Losses			Net
Net investment in leases	$	143	$	132	$	825	$	1,100	$	12,619	$	(176	)	$	13,543
Financed sales receivables		959		729		6,190		7,878		41,439		(1,413	)		47,904
Total	$	1,102	$	861	$	7,015	$	8,978	$	54,058	$	(1,589	)	$	61,447

Schedule of Net Investment in Leases and Financed Sale Receivables on Nonaccrual Status

The following table provides information about the Company’s net investment in leases and financed sale receivables that are on nonaccrual status as of December 31, 2022 and 2021:


	As of December 31, 2022							As of December 31, 2021
(In thousands of U.S. Dollars)	Recorded Receivable		Allowance for Credit Losses			Net		Recorded Receivable		Allowance for Credit Losses			Net
Net investment in leases	$	401	$	(401	)	$	—	$	871	$	(309	)	$	562
Net financed sales receivables		27,364		(9,589	)		17,775		8,642		(2,357	)		6,285
Total	$	27,765	$	(9,990	)	$	17,775	$	9,513	$	(2,666	)	$	6,847

Summary of Allowance for Credit Losses Related to Net Investment in Leases and Financed Sale Receivables


	Year Ended December 31, 2022
	Net Investment			Financed
(In thousands of U.S. Dollars)	in Leases			Sales Receivables
Beginning balance	$	798		$	5,414
Current period provision, net		5			5,783
Foreign exchange		(27	)		(252	)
Ending balance	$	776		$	10,945

	Year Ended December 31, 2021
	Net Investment			Net Financed
(In thousands of U.S. Dollars)	in Leases			Sales Receivables
Beginning balance	$	557		$	7,274
Current period provision (reversal), net		235			(1,947	)
Foreign exchange		6			87
Ending balance	$	798		$	5,414

Summary of Allowance For Credit Losses Related to Variable Consideration Receivables

The following table summarizes the activity in the Allowance for Credit Losses related to Variable Consideration Receivables for the years ended December 31, 2022 and 2021:


	Year Ended December 31,
(In thousands of U.S. Dollars)	2022			2021
Beginning balance	$	1,082		$	1,887
Current period reversal, net		(440	)		(787	)
Foreign Exchange		(32	)		(18	)
Ending balance	$	610		$	1,082

Lease Arrangements (Tables)

12 Months Ended

Dec. 31, 2022

Leases [Abstract]

Components of Operating Lease Expense

For the years ended December 31, 2022, 2021, and 2020 the components of lease expense recorded within Selling, General and Administrative Expenses are as follows:


	Years Ended December 31,
(In thousands of U.S. Dollars)	2022		2021		2020
Operating lease cost:
Amortization of operating lease assets		2,734		2,791		3,114
Interest on operating lease liabilities		825		937		1,052
Short-term and variable lease costs		616		713		540
Finance lease cost:
Amortization of finance lease assets		171	N/A		N/A
Interest on finance lease liabilities		22	N/A		N/A
Total lease cost	$	4,368	$	4,441	$	4,706

Supplemental Cash and Non-Cash Flow Information Related to Leases

For the years ended December 31, 2022, 2021, and 2020, supplemental cash and non-cash information related to leases is as follows:


	Years Ended December 31,
(In thousands of U.S. Dollars)	2022		2021		2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating leases	$	3,783	$	3,839	$	3,743
Finance leases	$	948	N/A		N/A
Supplemental disclosure of noncash leasing activities:
Right-of-use assets obtained in exchange for operating lease obligations	$	3,068	$	1,047	$	563
Right-of-use assets obtained in exchange for finance lease obligations	$	1,990	N/A		N/A

Lessee Operating Lease Balance Sheet Amounts and Lines

As of December 31, 2022 and 2021, supplemental balance sheet information related to leases is as follows:


		December 31,
(In thousands of U.S. Dollars)		2022		2021
Assets	Balance Sheet Location
Operating lease right-of-use assets	Property, plant and equipment	$	12,341	$	12,132
Finance lease right-of-use assets	Property, plant and equipment	$	1,876	N/A
Liabilities	Balance Sheet Location
Operating lease liabilities	Accrued and other liabilities	$	14,641	$	14,691
Finance lease liabilities(1)	Accrued and other liabilities	$	1,011	N/A

(1)

Recorded net of a $0.9 million upfront payment made upon execution of the finance lease arrangement.

Lessee Leases Weighted Average Remaining Lease Term and Weighted Average Interest Rate

As of December 31, 2022 and 2021, the weighted-average remaining lease term and weighted-average interest rate associated with the Company’s leases are as follows:


	December 31,
	2022			2021
Operating leases:
Weighted-average remaining lease term (years)		6.0			7.0
Weighted-average discount rate		5.90	%		5.97	%
Finance leases:
Weighted-average remaining lease term (years)		4.7		N/A
Weighted-average discount rate		6.00	%	N/A

Lessee Operating and Finance Lease, Maturity

As of December 31, 2022, the maturities of the Company’s operating and finance lease liabilities are as follows:


(In thousands of U.S. Dollars)	Operating Leases			Finance Leases
2023	$	3,639		$	508
2024		3,017			508
2025		2,429			—
2026		2,069			—
2027		2,094			—
Thereafter		4,171			—
Total lease payments	$	17,419		$	1,016
Less: interest expense		(2,778	)		(5	)
Present value of lease liabilities	$	14,641		$	1,011

Schedule of Maturities of Lease Receivables


(In thousands of U.S. Dollars)	Sales-Type Leases		Joint Revenue Sharing Arrangements
2023	$	3,245	$	172
2024		3,158		69
2025		3,038		27
2026		2,823		—
2027		2,760		—
Thereafter		14,702		—
Total	$	29,726	$	268

Variable Consideration from Contracts with Customers (Tables)

12 Months Ended

Dec. 31, 2022

Change in Contract with Customer, Asset [Abstract]

Summary of Variable Consideration from Contracts With Customers

The following table summarizes the activity related to variable consideration from contracts with customers for the years ended December 31, 2022, 2021, and 2020:



(In thousands of U.S. Dollars)
Balance as of January 1, 2020	$	40,040
Variable consideration for newly recognized sales		5,550
Accretion to finance income		2,133
Transferred to receivables from variable consideration assets		(5,310	)
Movement in allowance for credit losses		(1,887	)
Balance as of December 31, 2020		40,526
Variable consideration for newly recognized sales		4,696
Accretion to finance income		1,985
Transferred to receivables from variable consideration assets		(3,794	)
Movement in allowance for credit losses (see Note 6)		805
Balance as of December 31, 2021		44,218
Variable consideration for newly recognized sales		7,109
Accretion to finance income		1,846
Transferred to receivables from variable consideration assets		(9,621	)
Movement in allowance for credit losses (see Note 6)		472
Balance as of December 31, 2022	$	44,024

Inventories (Tables)

12 Months Ended

Dec. 31, 2022

Inventory Disclosure [Abstract]

Inventories


	As of December 31,
(In thousands of U.S. Dollars)	2022		2021
Raw materials	$	25,365	$	20,551
Work-in-process		2,034		1,406
Finished goods		4,135		4,967
	$	31,534	$	26,924

Summary of Inventory Valuation Allowance Account

The following table summarizes the activity for the Company’s inventory valuation allowance account for the years ended December 31, 2022, 2021 and 2020:


	Balance at beginning of year		Additions charged to expenses(1)		Other deductions(2)			Balance at end of year
(In thousands of U.S. Dollars)
Year ended December 31, 2022	$	4,897	$	919	$	(77	)	$	5,739
Year ended December 31, 2021	$	5,752	$	629	$	(1,484	)	$	4,897
Year ended December 31, 2020	$	3,216	$	3,028	$	(492	)	$	5,752

(2) Includes the write-off of amounts previously charged to valuation allowance.

Film Assets (Tables)

12 Months Ended

Dec. 31, 2022

Film, Capitalized Cost [Abstract]

Film Assets


	As of December 31,
(In thousands of U.S. Dollars)	2022		2021
Completed and released films, net of accumulated amortization of	$	1,227	$	2,292
$235,029 (2021 ― $218,148)
Films in production		1,667		195
Films in development		2,383		1,754
	$	5,277	$	4,241

Property, Plant and Equipment (Tables)

12 Months Ended

Dec. 31, 2022

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment


	As of December 31, 2022
			Accumulated		Net Book
(In thousands of U.S. Dollars)	Cost		Depreciation		Value
Equipment leased or held for use:
System components(1)(2)(3)	$	345,960	$	194,444	$	151,516
Camera equipment		8,597		3,859		4,738
		354,557		198,303		156,254
Assets under construction(4)		14,379		—		14,379
Right-of-use assets(5)		14,615		398		14,217
Other property, plant and equipment:
Land		8,203		—		8,203
Buildings		81,053		31,519		49,534
Office and production equipment(6)		38,485		31,360		7,125
Leasehold improvements		7,959		4,775		3,184
		135,700		67,654		68,046
	$	519,251	$	266,355	$	252,896

	As of December 31, 2021
			Accumulated		Net Book
(In thousands of U.S. Dollars)	Cost		Depreciation		Value
Equipment leased or held for use:
System components(1)(2)(3)	$	346,517	$	181,936	$	164,581
Camera equipment		4,855		3,214		1,641
		351,372		185,150		166,222
Assets under construction(4)		10,232		—		10,232
Right-of-use assets(5)		14,429		2,297		12,132
Other property, plant and equipment:
Land		8,203		—		8,203
Buildings		80,973		28,873		52,100
Office and production equipment(6)		39,017		31,169		7,848
Leasehold improvements		8,110		4,494		3,616
		136,303		64,536		71,767
	$	512,336	$	251,983	$	260,353

(1)

(2)

(3)

(4)

Included in assets under construction are components with costs of $9.1 million (2021 — $9.2 million) that will be utilized to construct assets to be used in joint revenue sharing arrangements.

(5)

The right-of-use assets primarily include operating leases for office and warehouse space.

(6)

Other Assets (Tables)

12 Months Ended

Dec. 31, 2022

Other Assets [Abstract]

Schedule of Other Assets


	As of December 31,
(In thousands of U.S. Dollars)	2022		2021
Lease incentives provided to exhibitor customers, net of accumulated amortization	$	12,975	$	14,834
Commissions and other deferred selling expenses		1,336		1,418
Other investments		1,000		1,000
Foreign currency derivatives		50		184
Other		304		363
	$	15,665	$	17,799

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Schedule of (Loss) Income Before Taxes by Jurisdiction

(a)

(Loss) Income Before Taxes by Jurisdiction

(Loss) income before taxes by tax jurisdiction for the years ended December 31, 2022, 2021, and 2020 consists of the following:


	Years Ended December 31,
(In thousands of U.S. Dollars)	2022			2021			2020
Canada	$	(55,623	)	$	(55,480	)	$	(104,166	)
United States		4,281			3,218			(6,437	)
China		11,466			53,792			(8,253	)
Ireland		24,070			829			(7,473	)
Other		6,037			8,628			(2,795	)
	$	(9,769	)	$	10,987		$	(129,124	)

Schedule of Income Tax (Expense) Benefit

(b)

Income Tax (Expense) Benefit

Income tax (expense) benefit for the years ended December 31, 2022, 2021, and 2020 consists of the following:


	Years Ended December 31,
(In thousands of U.S. Dollars)	2022			2021			2020
Income tax (expense) benefit – current:
Canada	$	(1,149	)	$	(915	)	$	555
United States		(274	)		(1,038	)		488
China		(4,437	)		(11,045	)		(1,980	)
Ireland		(2,802	)		(1,358	)		(1,462	)
Other		(3,519	)		(3,212	)		(487	)
Sub-total		(12,181	)		(17,568	)		(2,886	)
Income tax (expense) benefit – deferred:
Canada(1)		943			(231	)		(10,801	)
United States		(131	)		(1,268	)		867
China(2)		2,763			(381	)		(15,756	)
Ireland		(1,562	)		(997	)		2,161
Other		60			(119	)		(89	)
Sub-total		2,073			(2,996	)		(23,618	)
Total(3)	$	(10,108	)	$	(20,564	)	$	(26,504	)

(1)

(2)

(3)

Schedule of Reconciliation of Income Tax Expense to Statutory Rates

(c)

Reconciliation of Income Tax Expense to Statutory Rates


	Years Ended December 31,
	2022				2021				2020
(In thousands of U.S. Dollars, except rates)	Amount			Rate	Amount			Rate	Amount			Rate
Income tax benefit (expense) at combined statutory rates	$	2,596		26.5%	$	(2,912	)	26.5%	$	34,218		26.5%
Adjustments resulting from:
Non-controlling interests share of partnership losses		—		0.0%		(1	)	0.0%		(1,229	)	(1.0%)
Increase in valuation allowance		(16,848	)	(172.5%)		(14,722	)	134.0%		(28,589	)	(22.1%)
Changes to tax reserves		1,643		16.8%		3,508		(31.9%)		(2,699	)	(2.1%)
U.S. federal and state taxes		(86	)	(0.9%)		(80	)	0.7%		(250	)	(0.2%)
Withholding taxes		(3,825	)	(39.2%)		(4,199	)	38.2%		(20,943	)	(16.2%)
Income tax at different rates in foreign and other provincial jurisdictions		3,872		39.6%		3,352		(30.5%)		(2,607	)	(2.0%)
Investment and other tax credits (non-refundable)		752		7.7%		413		(3.8%)		643		0.5%
Changes to deferred tax assets and liabilities resulting from audit and other tax return adjustments		2,278		23.3%		(5,336	)	48.6%		(1,219	)	(0.9%)
Other non-deductible/non-taxable items		(490	)	(4.9%)		(587	)	5.4%		(3,829	)	(3.0%)
Income tax expense	$	(10,108	)	(103.6%)	$	(20,564	)	187.2%	$	(26,504	)	(20.5%)

Deferred Tax Assets and Deferred Tax Liability

(d)

Deferred Tax Assets and Deferred Tax Liability

As of December 31, 2022 and 2021, the Company’s deferred tax assets and deferred tax liability consists of the following:


	As of December 31,
(In thousands of U.S. Dollars)	2022			2021
Net operating loss carryforwards	$	29,158		$	21,219
Investment tax credit and other tax credit carryforwards		5,213			3,919
Write-downs of other assets		2,341			1,223
Excess of tax accounting basis in various assets		14,549			13,929
Accrued pension liability		5,375			6,901
Accrued share-based compensation		8,920			7,728
Income recognition on net investment in leases		(3,344	)		(3,368	)
Other accrued reserves		10,552			8,369
Total deferred income tax assets		72,764			59,920
Valuation allowance		(62,864	)		(46,014	)
Deferred income tax asset net of valuation allowance		9,900			13,906
Deferred tax liability		(14,900	)		(17,642	)
Net deferred tax liability	$	(5,000	)	$	(3,736	)

Reconciliation of Beginning and Ending Amount of Tax Reserves (excluding interest and penalties)

The following table presents a reconciliation of the beginning and ending amount of tax reserves (excluding interest and penalties) for the years ended December 31, 2022, 2021, and 2020:


	Years Ended December 31,
(In thousands of U.S. Dollars)	2022			2021			2020
Balance at beginning of the year	$	11,939		$	14,076		$	14,718
Additions based on tax positions related to the current year		11			37			2,301
Reductions for tax positions of prior years		(94	)		(991	)		—
Reductions resulting from lapse of applicable statute of limitations and administrative practices		(2,123	)		(1,183	)		(2,943	)
Balance at the end of the year	$	9,733		$	11,939		$	14,076

Income Tax (Expense) Benefit in Other Comprehensive Income

For the years ended December 31, 2022, 2021, and 2020, Income Tax (Expense) Benefit related to the components of Other Comprehensive (Loss) Income is as follows:


	Years Ended December 31,
(In thousands of U.S. Dollars)	2022			2021			2020
Unrealized defined benefit plan actuarial (gain) loss	$	(198	)	$	(37	)	$	276
Unrealized postretirement benefit plans actuarial (gain) loss		(762	)		(35	)		92
Amortization of prior service cost		(48	)		(48	)		(23	)
Unrealized change in cash flow hedging instruments		346			(123	)		(132	)
Realized change in cash flow hedging instruments		(156	)		446			(158	)
Reclassification of unrealized change in ineffective cash flow hedging instruments		—			83			—
	$	(818	)	$	286		$	55

Goodwill and Other Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Summary of Other Intangible Assets


	As of December 31, 2022
			Accumulated			Net Book
(In thousands of U.S. Dollars)	Cost		Amortization			Value
Licenses and intellectual property	$	26,168	$		15,232	$	10,936
Internal use software		32,886			25,232		7,654
Developed technology		5,779			225		5,554
In process research and development		3,810		—			3,810
Patents and trademarks		13,031			9,771		3,260
Customer relationships		1,340			50		1,290
Other		769			535		234
	$	83,783	$		51,045	$	32,738

	As of December 31, 2021
			Accumulated			Net Book
(In thousands of U.S. Dollars)	Cost		Amortization			Value
Licenses and intellectual property	$	26,168	$		13,642	$	12,526
Internal use software		28,571			21,544		7,027
Patents and trademarks		12,834			9,406		3,428
Other		598			499		99
	$	68,171	$		45,091	$	23,080

Summary of Estimated Amortization Expenses

The estimated amortization expense for each of the next five years following the December 31, 2022 balance sheet date is as follows:


(In thousands of U.S. Dollars)
2023	$	(7,821	)
2024		(7,636	)
2025		(5,456	)
2026		(3,059	)
2027		(3,099	)

Borrowings (Tables)

12 Months Ended

Dec. 31, 2022

Debt Disclosure [Abstract]

Revolving Credit Facility Borrowings

As of December 31, 2022 and 2021, Revolving Credit Facility Borrowings, Net includes the following:


	December 31,			December 31,
(In thousands of U.S. Dollars)	2022			2021
Wells Fargo Credit Facility borrowings	$	25,000		$	—
HSBC China Facility borrowings		12,496			—
Bank of China Facility borrowings		374			3,612
Unamortized debt issuance costs		(1,759	)		(1,140	)
Revolving Credit Facility Borrowings, net	$	36,111		$	2,472

Wells Fargo

Summary of Convertible Notes and Other Borrowings, Net

As of December 31, 2022 and December 31, 2021, Convertible Notes and Other Borrowings, Net includes the following:


	December 31,			December 31,
(In thousands of U.S. Dollars)	2022			2021
Convertible Notes	$	230,000		$	230,000
Unamortized discounts and debt issuance costs		(4,870	)		(6,359	)
Convertible Notes, net		225,130			223,641

Federal Economic Development Loan		2,812		N/A
Unaccreted interest benefit		(1,030	)	N/A
Federal Economic Development Loan, net		1,782		N/A

Convertible Notes and Other Borrowings, net	$	226,912		$	223,641

Convertible Notes

Commitments (Tables)

12 Months Ended

Dec. 31, 2022

Commitments and Contingencies Disclosure [Abstract]

Summary of Company's Contractual Obligations and Commitments

The following table presents a summary of the Company’s contractual obligations and commitments as of December 31, 2022:


	Payments Due by Period
(In thousands of U.S. Dollars)	Total Obligation		Less Than One Year		1 to 3 years		3 to 5 years		Thereafter
Purchase obligations(1)	$	37,884	$	34,419	$	3,183	$	37	$	245
Pension obligations(2)		20,295		—		—		20,295		—
Operating lease obligations(3)		18,013		3,905		5,825		4,137		4,146
Finance lease obligations		1,016		508		508		—		—
Wells Fargo Facility		25,000		—		—		25,000		—
HSBC Facility		12,496		12,496		—		—		—
Bank of China Facility		374		374		—		—		—
Federal Economic Development Loan(4)		2,812		—		1,250		1,250		312
Convertible Notes(5)		234,025		1,150		2,300		230,575		—
Postretirement benefits obligations		2,504		104		210		220		1,970
	$	354,419	$	52,956	$	13,276	$	281,514	$	6,673

(1)

Represents total payments to be made under binding commitments with suppliers and outstanding payments to be made for supplies ordered, but yet to be invoiced.

(2)

The Company has an unfunded defined benefit pension plan covering its Chief Executive Officer. (See Note 24.)

(3)

Represents total minimum annual rental payments due under the Company’s operating leases. (See Note 7.)

(4)

The Federal Economic Development Loan will be repayable over 60 months, with repayments estimated to begin in January 2024. (See Note 15(b).)

(5)

Capital Stock (Tables)

12 Months Ended

Dec. 31, 2022

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Changes During the Year

The following table summarizes the settlement of stock option and RSU transactions:


	Years Ended December 31,
	2022		2021		2020
Stock options
Issued from treasury		—		41,613		—
Plan trustee purchases		—		—		—
Total stock options exercised		—		41,613		—

RSUs
Issued from treasury		596,277		531,629		42,982
Plan trustee purchases		—		723		386,297
Shares withheld for tax withholdings		203,956		157,546		24,714
Total RSUs vested		800,233		689,898		453,993

Share-Based Compensation Expense


	Years Ended December 31,
(In thousands of U.S. Dollars)		2022			2021			2020
Cost and expenses applicable to revenues	$		1,156	$		1,490	$		691
Selling, general and administrative expenses			25,438			23,776			20,652
Research and development			419			348			150
	$		27,013	$		25,614	$		21,493

Stock Option Plan

The Company recorded the following expenses related to stock options issued to employees and directors under the IMAX LTIP and SOP:


	Years Ended December 31,
(In thousands of U.S. Dollars)	2022		2021		2020
Stock option expense	$	572	$	1,064	$	1,847

Non vested stock options

As of December 31, 2022, 2021, and 2020, unrecognized share-based compensation expense related to non-vested employee stock options is as follows:


	As of December 31,
(In thousands of U.S. Dollars)	2022		2021		2020
Expense related to non-vested employee stock options	$	86	$	662	$	2,029

As of 2022, 2021, and 2020, unrecognized share-based compensation expense related to non-vested employee stock options is expected to be recognized over the following weighted-average periods:


	As of December 31,
	2022		2021		2020
Weighted average period (in years)		0.2		1.1		1.8

Schedule of Share-based Compensation, Stock Options, Activity

The following table summarizes the stock option activity under the SOP and IMAX LTIP for the years ended December 31, 2022, 2021, and 2020:


											Weighted Average Exercise
	Number of Shares										Price Per Share
	2022			2021			2020			2022			2021		2020
Stock options outstanding, beginning of year		3,736,157			4,892,962			5,732,209		$		26.61	$	26.81	$	26.82
Granted		—			—			—				—		—		—
Exercised		—			(41,613	)		—				—		21.23		—
Forfeited		(796	)		(88,934	)		(34,678	)			22.49		22.49		22.49
Expired		(126,569	)		(903,038	)		(786,086	)			33.61		28.31		27.07
Cancelled		(4,053	)		(123,220	)		(18,483	)			27.92		26.68		27.97
Stock options outstanding, end of year		3,604,739			3,736,157			4,892,962				26.36		26.61		26.81
Stock options exercisable, end of year		3,523,335			3,488,107			4,311,761				26.45		26.93		27.30

RSU Expenses


	Years Ended December 31,
(In thousands of U.S. Dollars)	2022		2021		2020
RSU expenses	$	15,498	$	15,555	$	13,761

RSU Unrecognized Expenses

Total share-based compensation expense related to non-vested RSUs not yet recognized and the weighted average period over which the awards are expected to be recognized are as follows:


	Years Ended December 31,
(In thousands of U.S. Dollars)	2022		2021		2020
Expense related to non-vested RSUs not yet recognized	$	17,457	$	15,913	$	17,343

Weighted average period awards are expected to be recognized (in years)		1.5		1.6		1.9

Restricted Stock Units Issued under the IMAX LTIP

The following table summarizes the activity in respect of RSUs issued under the IMAX LTIP for the years ended December 31, 2022, 2021, and 2020:


	Number of Awards									Weighted Average Grant Date Fair Value Per Share
	2022			2021			2020				2022			2021			2020
RSUs outstanding, beginning of year		1,457,883			1,564,838			1,065,347		$		19.16	$		18.33	$		23.17
Granted		708,313			831,123			1,050,385				19.31			21.03			15.35
Vested and settled		(800,231	)		(689,872	)		(453,993	)			19.10			19.46			22.71
Forfeited		(113,921	)		(248,206	)		(96,901	)			20.39			19.38			18.81
RSUs outstanding, end of year		1,252,044			1,457,883			1,564,838				19.16			19.16			18.33

RSU Carve out Balance

The following table summarizes the number of RSUs issued from the carve-out balance:


Approved under the June 3, 2020 amended and restated IMAX LTIP	885,000
Issued during previous years	(482,912	)
Issued during 2022	(59,030	)
Outstanding, December 31, 2022	343,058

PSU Expenses


	Years Ended December 31,
(In thousands of U.S. Dollars)	2022		2021		2020
PSU expenses	$	8,306	$	5,322	$	2,563

Performance Stock Units Activity under the IMAX LTIP

The following table summarizes the activity in respect of PSUs issued under the IMAX LTIP:


	Number of Awards									Weighted Average Grant Date Fair Value Per Share
	2022			2021			2020				2022			2021			2020
PSUs outstanding, beginning of year		613,405			361,844			—		$		18.21	$		15.68	$		—
Granted		359,138			309,574			370,265				20.34			20.77			15.66
Forfeited		(40,827	)		(58,013	)		(8,421	)			19.90			16.11			4.84
PSUs outstanding, end of year		931,716			613,405			361,844				18.96			18.21			15.68

China LTIP Activity

For the years ended December 31, 2022, 2021, and 2020, share-based compensation expense related to China Options, China RSUs and China PSUs was as follows:


	Years Ended December 31,
(In thousands of U.S. Dollars)	2022		2021		2020
Expense
China Options	$	91	$	285	$	875
China RSUs		2,284		2,810		2,093
China PSUs		262		578		208
Total	$	2,637	$	3,673	$	3,176

Summary of Share Repurchases

The following table summarizes the Company's share repurchases during the years ended December 31, 2022 and 2021:


	Total Number of Shares Repurchased				Average Price Paid Per Share
(in thousands of U.S. Dollars)	2022		2021			2022			2021
Shares repurchased		5,401,852		841,331	$		15.19	$		16.51

Basic and Diluted Per-share Computations

The following table reconciles the denominator of the basic and diluted weighted average share computations:


	Years Ended December 31,
(In thousands)	2022			2021		2020
Issued and outstanding, beginning of period		58,654			58,921		61,176
Weighted average number of shares (repurchased) issued, net		(1,980	)		205		(1,939	)
Weighted average number of shares outstanding - basic and diluted		56,674			59,126		59,237

IMAX China

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Summary of Share Repurchases

The following table summarizes the IMAX China's share repurchases during the years ended December 31, 2022 and 2021:


	Total Number of Shares Repurchased				Average Price Paid Per Share
(in thousands of U.S. Dollars)	2022		2021			2022			2021
Shares repurchased		2,961,800		6,664,700	$		1.02	$		1.50

Consolidated Statements of Operations Supplemental Information (Tables)

12 Months Ended

Dec. 31, 2022

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Summary of Selling Expenses, Including Sales Commissions and Marketing and Other Expenses


	Years Ended December 31,
	2022				2021				2020
(In thousands of U.S. Dollars)	Sales Commissions		Marketing and Other		Sales Commissions		Marketing and Other		Sales Commissions		Marketing and Other
Technology sales(1)	$	479	$	810	$	1,885	$	989	$	1,278	$	1,077
Image enhancement and maintenance services(2)		—		20,284		—		8,923		—		4,306
Technology rentals(3)		85		663		399		1,109		908		510
Total	$	564	$	21,757	$	2,284	$	11,021	$	2,186	$	5,893

(1)

(2)

Film exploitation costs, including advertising and marketing costs are expensed as incurred.

(3)

Consolidated Statements of Cash Flows Supplemental Information (Tables)

12 Months Ended

Dec. 31, 2022

Supplemental Cash Flow Elements [Abstract]

Summary of Changes in Other Operating Assets and Liabilities


	Years Ended December 31,
(In thousands of U.S. Dollars)		2022				2021				2020
Decrease (Increase) in:
Financing receivables	$		5,411		$		(7,637	)	$		(10,568	)
Prepaid expenses			(1,892	)			(3,230	)			(979	)
Variable consideration receivables			667				(2,905	)			(2,361	)
Other assets			968				1,003				(4,747	)
Increase (Decrease) in:
Accounts payable			8,496				(4,752	)			414
Accrued and other liabilities			(12,849	)			15,167				(6,399	)
	$		801		$		(2,354	)	$		(24,640	)

Cash Payments


	Years Ended December 31,
(In thousands of U.S. Dollars)		2022			2021			2020
Income taxes(1)	$		13,963	$		18,475	$		4,763
Interest	$		715	$		3,251	$		5,773

(1)

Summary of Depreciation and Amortization


	Years Ended December 31,
(In thousands of U.S. Dollars)		2022			2021			2020
Film assets	$		16,881	$		16,316	$		8,838
Property, plant and equipment:
Equipment supporting joint revenue sharing arrangements			22,165			22,320			24,930
Other property, plant and equipment(1)			9,757			9,479			11,225
Other intangible assets(2)			6,103			6,079			6,565
Other assets(3)			1,755			1,888			1,146
Total	$		56,661	$		56,082	$		52,704

(1)

(2)

(3)

Includes the amortization of lessee incentives provided by the Company to its customers under joint revenue sharing arrangements.

Write Downs, Net of Recoveries


	Years Ended December 31,
(In thousands of U.S. Dollars)		2022			2021			2020
Other assets(1)	$		4,470	$		—	$		1,151
Inventories(2)			741			890			3,632
Property, plant and equipment:
Equipment supporting joint revenue sharing arrangements(3)			973			364			1,784
Other property, plant and equipment			57			217			174
Other intangible assets			87			142			184
Film assets(4)			848			151			10,804
	$		7,176	$		1,764	$		17,729

(1)

(2)

(3)

In 2022, the Company recorded charges of $1.0 million (2021 — $0.4 million; 2020 — $1.8 million) in Costs and Expenses Applicable to Technology Rentals mostly related to the write-downs of leased xenon-based digital systems which were taken out of service in connection with exhibitor customer upgrades to laser-based digital systems, as well as an IMAX System that was removed from its existing location.

(4)

Significant Non-cash Investing Activities


	Years Ended December 31,
(In thousands of U.S. Dollars)		2022			2021				2020
Net increase (decrease) in accruals related to:
Investment in equipment supporting joint revenue sharing arrangements	$		790	$		1,009		$		(1,888	)
Acquisition of other intangible assets			30			(891	)			792
Purchases of property, plant and equipment(1)			311			(188	)			158
	$		1,131	$		(70	)	$		(938	)

(1)

See Note 7 for supplemental disclosure of noncash leasing activities.

(f)

Significant non-cash financing activities

Revenue from Contracts with Customers (Tables)

12 Months Ended

Dec. 31, 2022

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue by Segment

The following tables summarize the Company’s revenues by type and reportable segment for the years ended December 31, 2022, 2021, and 2020:


	Year Ended December 31, 2022
	Revenue from
	Contracts with Customers
(In thousands of U.S. Dollars)	Fixed consideration		Variable consideration		Revenue from Lease Arrangements		Finance Income		Total
Technology sales
IMAX Systems(1)	$	43,704	$	7,268	$	3,479	$	—	$	54,451
Joint Revenue Sharing Arrangements, fixed fees		—		—		4,804		—		4,804
Other Theater Business		6,255		—		—		—		6,255
All Other		3,546		102		—		—		3,648
Sub-total		53,505		7,370		8,283		—		69,158
Image enhancement and maintenance services
IMAX DMR		—		94,867		—		—		94,867
IMAX Maintenance		56,608		—		—		—		56,608
Film Distribution		554		2,598		—		—		3,152
Film Post-Production		3,783		—		—		—		3,783
All Other		1,178		1,791		—		—		2,969
Sub-total		62,123		99,256		—		—		161,379
Technology rentals
Joint Revenue Sharing Arrangements, contingent rent		—		—		61,768		—		61,768
All Other		—		—		18		—		18
Sub-total		—		—		61,786		—		61,786
Finance income
IMAX Systems		—		—		—		8,482		8,482
Total	$	115,628	$	106,626	$	70,069	$	8,482	$	300,805


	Year Ended December 31, 2021
	Revenue from
	Contracts with Customers
(In thousands of U.S. Dollars)	Fixed consideration		Variable consideration		Revenue from Lease Arrangements		Finance Income		Total
Technology sales
IMAX Systems(1)	$	37,900	$	5,576	$	11,392	$	—	$	54,868
Joint Revenue Sharing Arrangements, fixed fees		—		—		5,406		—		5,406
Other Theater Business		2,363		—		—		—		2,363
All Other		3,475		41		—		—		3,516
Sub-total		43,738		5,617		16,798		—		66,153
Image enhancement and maintenance services
IMAX DMR		—		70,659		—		—		70,659
IMAX Maintenance		53,339		—		—		—		53,339
Film Distribution		205		1,259		—		—		1,464
Film Post-Production		4,260		—		—		—		4,260
All Other		377		1,049		—		—		1,426
Sub-total		58,181		72,967		—		—		131,148
Technology rentals
Joint Revenue Sharing Arrangements, contingent rent		—		—		46,184		—		46,184
All Other		—		—		606		—		606
Sub-total		—		—		46,790		—		46,790
Finance income
IMAX Systems		—		—		—		10,792		10,792
Total	$	101,919	$	78,584	$	63,588	$	10,792	$	254,883


	Year Ended December 31, 2020
	Revenue from
	Contracts with Customers
(In thousands of U.S. Dollars)	Fixed consideration		Variable consideration		Revenue from Lease Arrangements		Finance Income		Total
Technology sales
IMAX Systems(1)	$	33,869	$	5,799	$	4,271	$	—	$	43,939
Joint Revenue Sharing Arrangements, fixed fees		—		—		2,056		—		2,056
Other Theater Business		1,666		—		—		—		1,666
All Other		1,957		110		—		—		2,067
Sub-total		37,492		5,909		6,327		—		49,728
Image enhancement and maintenance services
IMAX DMR		—		28,265		—		—		28,265
IMAX Maintenance		21,999		—		—		—		21,999
Film Distribution		3,000		1,841		—		—		4,841
Film Post-Production		3,878		—		—		—		3,878
All Other		—		335		—		—		335
Sub-total		28,877		30,441		—		—		59,318
Technology rentals
Joint Revenue Sharing Arrangements, contingent rent		—		—		17,841		—		17,841
Sub-total		—		—		17,841		—		17,841
Finance income
IMAX Systems		—		—		—		10,116		10,116
Total	$	66,369	$	36,350	$	24,168	$	10,116	$	137,003

(1)

Includes revenues earned from sale and sales-type lease arrangements involving new and upgraded IMAX Systems, as well as the impact of renewals and amendments to existing system arrangements.

Segment Reporting (Tables)

12 Months Ended

Dec. 31, 2022

Segment Reporting [Abstract]

Segment Reporting Information by Category and Reportable Segment

The following table presents the Company’s revenue and gross margin (margin loss) by category and reportable segment for the years ended December 31, 2022, 2021, and 2020:


	Years Ended December 31,
	Revenue(1)						Gross Margin (Margin Loss)
(In thousands of U.S. Dollars)	2022		2021		2020		2022			2021			2020
IMAX Technology Network
IMAX DMR	$	94,867	$	70,659	$	28,265	$	57,964		$	44,782		$	13,731
JRSA, contingent rent		61,768		46,184		17,841		37,394			21,761			(9,500	)
		156,635		116,843		46,106		95,358			66,543			4,231
IMAX Technology Sales and Maintenance
IMAX Systems(2)		62,933		65,660		54,055		35,129			34,981			24,816
JRSA, fixed fees		4,804		5,406		2,056		589			1,343			529
IMAX Maintenance		56,608		53,339		21,999		27,109			27,572			3,068
Other Theater Business(3)		6,255		2,363		1,666		807			398			(438	)
		130,600		126,768		79,776		63,634			64,294			27,975
Film Distribution and Post-Production
Film Distribution(4)		3,152		1,464		4,841		(7,668	)		(1,121	)		(9,840	)
Post-Production		3,783		4,260		3,878		1,540			1,969			(358	)
		6,935		5,724		8,719		(6,128	)		848			(10,198	)
Sub-total for reportable segments		294,170		249,335		134,601		152,864			131,685			22,008
All Other(5)		6,635		5,548		2,402		3,491			2,721			(468	)
Total	$	300,805	$	254,883	$	137,003	$	156,355		$	134,406		$	21,540

The following table presents the Company’s assets by category and reportable segment, reconciled to consolidated assets, as of December 31, 2022 and 2021:


	As of December 31,
(In thousands of U.S. Dollars)	2022		2021
IMAX Technology Network
IMAX DMR	$	48,755	$	48,299
JRSA, contingent rent		193,403		196,789
IMAX Technology Sales and Maintenance
IMAX Systems		255,458		249,672
JRSA, fixed fees		26,574		27,930
IMAX Maintenance		48,764		38,530
Other Theater Business		110		82
Film Distribution and Post-Production
Film Distribution		11,545		7,185
Post-Production		32,406		31,575
Sub-total for reportable segments		617,015		600,062
All Other(5)		29,686		1,420
Corporate and other non-segment specific assets		174,453		281,765
Total	$	821,154	$	883,247

The following table presents the Company’s amortization by category and reportable segment, and on a consolidated basis, for the years ended December 31, 2022, 2021, and 2020:


	Years Ended December 31,
(In thousands of U.S. Dollars)	2022		2021		2020
IMAX Technology Network
IMAX DMR	$	16,367	$	15,917	$	10,269
JRSA, contingent rent		23,920		24,208		26,076
IMAX Technology Sales and Maintenance
IMAX Systems		169		2,076		3,548
IMAX Maintenance		—		—		213
Film Distribution and Post-Production
Film Distribution		2,423		600		1,213
Post-Production		—		924		1,281
Sub-total for reportable segments		42,879		43,725		42,600
All Other(5)		309		—		11
Corporate and other non-segment specific assets		13,473		12,357		10,093
Total	$	56,661	$	56,082	$	52,704


	Years Ended December 31,
(In thousands of U.S. Dollars)	2022		2021			2020
IMAX Technology Network
IMAX DMR	$	29	$	151		$	1,057
JRSA, contingent rent		973		364			1,784
IMAX Technology Sales and Maintenance
IMAX Systems		150		837			2,872
IMAX Maintenance		591		53			510
Film Distribution and Post-Production
Film Distribution(4)		819		—			9,997
Post-Production		—		—			—
Sub-total for reportable segments		2,562		1,405			16,220
All Other(5)		—		—			52
Corporate and other non-segment specific assets(6)		13,161		(3,592	)		20,065
Total	$	15,723	$	(2,187	)	$	36,337


	Years Ended December 31,
(In thousands of U.S. Dollars)	2022		2021		2020
IMAX Technology Network
IMAX DMR	$	—	$	—	$	—
JRSA, contingent rent		19,803		10,094		6,654
IMAX Technology Sales and Maintenance
IMAX Systems		2,574		621		50
IMAX Maintenance		4		25		—
Film Distribution and Post-Production
Film Distribution		4,126		1,599		—
Post-Production		1,195		609		456
Sub-total for reportable segments		27,702		12,948		7,160
All Other(5)		9		—		—
Corporate and other non-segment specific assets		516		736		191
Total	$	28,227	$	13,684	$	7,351

(1)

(2)

(3)

The revenue from this segment principally includes after-market sales of IMAX projection system parts and 3D glasses.

(4)

(5)

(6)

Geographic Information

The following table summarizes the Company’s revenues by geographic area for the years ended December 31, 2022, 2021, and 2020:


	Years Ended December 31,
(In thousands of U.S. Dollars)	2022		2021		2020
United States	$	107,734	$	73,499	$	30,157
Greater China		73,330		112,801		52,331
Asia (excluding Greater China)		47,145		23,682		20,090
Western Europe		40,245		20,942		13,683
Latin America		9,418		3,601		6,114
Canada		7,550		3,266		1,365
Russia/the CIS & Ukraine(1)		2,849		7,308		2,927
Rest of the World		12,534		9,784		10,336
Total	$	300,805	$	254,883	$	137,003

(1)

Schedule of Property Plant and Equipment By Geographic Areas

The following table presents the breakdown of Property, Plant and Equipment by geography as of December 31, 2022 and 2021:


	As of December 31,
(In thousands of U.S. Dollars)		2022		2021
United States		$	94,505	$	91,856
Greater China			86,665		100,182
Canada			36,385		32,643
Western Europe			20,132		21,684
Asia (excluding Greater China)			10,471		9,463
Rest of the World			4,738		4,525
Total		$	252,896	$	260,353

Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2022

Derivative Instruments Gain Loss [Line Items]

Fair Value of Financial Instruments


	As of December 31, 2022						As of December 31, 2021
(In thousands of U.S. Dollars)	Carrying Amount			Estimated Fair Value			Carrying Amount			Estimated Fair Value
Level 1
Cash and cash equivalents(1)	$	97,401		$	97,401		$	189,711		$	189,711
Equity securities(2)		1,035			1,035			1,087			1,087
Level 2
Net financed sales receivables(3)	$	101,052		$	100,059		$	112,657		$	112,662
Net investment in sales-type leases(3)		28,332			27,972			28,392			28,407
Equity securities(1)		1,000			1,000			1,000			1,000
COLI(4)		3,398			3,398			3,275			3,275
Foreign exchange contracts — designated forwards(2)		(649	)		(649	)		79			79
Wells Fargo Credit Facility borrowings(1)		(25,000	)		(25,000	)		—			—
HSBC China Facility borrowings(1)		(12,496	)		(12,496	)		—			—
Bank of China Facility borrowings(1)		(374	)		(374	)		(3,612	)		(3,612	)
Federal Economic Development Loan(3)		(1,782	)		(1,782	)	N/A			N/A
Convertible Notes(5)		(230,000	)		(196,717	)		(230,000	)		(223,100	)
Level 3
Interest in film classified as a financial instrument(6)	$	—		$	—		$	—		$	—

(1)

Recorded at cost, which approximates fair value.

(2)

Fair value is determined using quoted prices in active markets.

(3)

Fair value is estimated based on discounting future cash flows at currently available interest rates with comparable terms.

(4)

Measured at cash surrender value, which approximates fair value.

(5)

Fair value is determined using quoted market prices that are observable in the market or that could be derived from observable market data.

(6)

Notional Amount of Derivative

The following tabular disclosures reflect the impact that derivative instruments and hedging activities have on the Company’s Consolidated Financial Statements:

Notional value of foreign exchange contracts:


	As of December 31,
(In thousands of U.S. Dollars)	2022		2021
Derivatives designated as hedging instruments:
Foreign exchange contracts — Forwards	$	24,707	$	26,702

Fair Value of Foreign Exchange Contracts

Fair value of derivatives in foreign exchange contracts:


		As of December 31,
(In thousands of U.S. Dollars)	Balance Sheet Location	2022			2021
Derivatives designated as hedging instruments:
Foreign exchange contracts — Forwards	Other assets	$	50		$	184
	Accrued and other liabilities		(699	)		(105	)
		$	(649	)	$	79

Derivatives in Foreign Currency Hedging Relationships

Derivatives in foreign currency hedging relationships are as follows:


		Years Ended December 31,
(In thousands of U.S. Dollars)		2022			2021		2020
Foreign exchange contracts	Derivative (Loss) Gain
— Forwards	Recognized in OCI
	(Effective Portion)	$	(1,323	)	$	468	$	550

	Location of Derivative (Loss) Gain
	Reclassified from AOCI	Years Ended December 31,
(In thousands of U.S. Dollars)	(Effective Portion)	2022			2021		2020
Foreign exchange contracts	Selling, general and
— Forwards	administrative expenses	$	(596	)	$	1,707	$	(578	)
	Inventories		—			—		(26	)
		$	(596	)	$	1,707	$	(604	)


		Years Ended December 31,
(In thousands of U.S. Dollars)		2022		2021		2020
Foreign exchange contracts	Derivative Gain Recognized
— Forwards	In and out of OCI
	(Effective Portion)	$	—	$	—	$	17

Not Designated as Hedging Instrument [Member]

Derivative Instruments Gain Loss [Line Items]

Derivatives in Foreign Currency Hedging Relationships

Non-designated derivatives in foreign currency relationships are as follows:


		Years Ended December 31,
(In thousands of U.S. Dollars)		2022		2021			2020
Foreign exchange contracts	Derivative Gain Reclassified
— Forwards	From AOCI
	(Ineffective Portion)	$	—	$	(318	)	$	—


		Years Ended December 31,
(In thousands of U.S. Dollars)	Location of Derivative Gain	2022		2021		2020
Foreign exchange contracts	Selling, general and
— Forwards	administrative expenses	$	—	$	398	$	344

Employees Pension and Postretirement Benefits (Tables)

12 Months Ended

Dec. 31, 2022

SERP Benefits [Member]

Defined Benefit Plans And Other Postretirement Benefit Plans Table Text Block [Line Items]

Summary of Amounts Accrued for the SERP

As of December 31, 2022 and 2021, the projected benefit obligation for SERP are as follows:


	Years Ended December 31,
(In thousands of U.S. Dollars)	2022			2021
Projected benefit obligation:
Obligation, beginning of period	$	20,056		$	20,116
Interest cost		160			72
Actuarial gain		(2,901	)		(132	)
Obligation, end of period and unfunded status	$	17,315		$	20,056

Summary of Accumulated Other Comprehensive (Loss) Income and Components of Net Periodic Benefit Cost in Future Periods


		As of December 31,
(In thousands of U.S. Dollars)	2022				2021				2020
Unrealized actuarial gain	$		(3,580	)	$	(679	)	$		(547	)
Unamortized prior service cost			—			184				369
Net periodic benefit costs to be recognized in future periods	$		(3,580	)	$	(495	)	$		(178	)

Summary of Disclosure of Pension Expense

For the years ended December 31, 2022, 2021, and 2020, the components of pension expense related to the SERP were as follows:


	Years ended December 31,
(In thousands of U.S. Dollars)	2022		2021		2020
Interest cost	$	160	$	72	$	379
Amortization of prior service cost		184		185		87
Pension expense	$	344	$	257	$	466

Summary of Weighted Average Assumptions Used to Determine the Benefit Obligation and Expense

The following assumptions were used to determine the SERP obligation and any related costs as of and for the years ended December 31, 2022, 2021, and 2020:

As of December 31,

2022

2021

2020

Discount rate

4.55

0.80

0.36

Lump sum interest rate:

First 25 years

N/A

N/A

N/A

First 20 years

N/A

N/A

N/A

Thereafter

N/A

N/A

N/A

Cost of living adjustment on benefits

N/A

N/A

N/A

Postretirement Benefits Executives [Member]

Defined Benefit Plans And Other Postretirement Benefit Plans Table Text Block [Line Items]

Summary of Amounts Accrued for the SERP

As of December 31, 2022 and 2021, the Company’s Consolidated Balance Sheets include the following amounts within Accrued and Other Liabilities related to the Executive Postretirement Benefit Plan:


	As of December 31,
(In thousands of U.S. Dollars)	2022			2021
Projected benefit obligation:
Obligation, beginning of year	$	662		$	710
Interest cost		18			16
Benefits paid		(8	)		(16	)
Actuarial gain		(215	)		(48	)
Obligation, end of year and unfunded status	$	457		$	662

Summary of Accumulated Other Comprehensive (Loss) Income and Components of Net Periodic Benefit Cost in Future Periods


	As of December 31,
(In thousands of U.S. Dollars)	2022			2021			2020
Unrealized actuarial (gain) loss	$	(242	)	$	(27	)	$	21

Summary of Disclosure of Pension Expense

For the years ended December 31, 2022, 2021, and 2020, the components of pension expense related to the Executive Postretirement Benefit Plan were as follows:


	Years Ended December 31,
(In thousands of U.S. Dollars)	2022		2021		2020
Interest cost	$	18	$	16	$	20
Amortization of actuarial gain		—		—		(17	)
Pension expense	$	18	$	16	$	3

Summary of Weighted Average Assumptions Used to Determine the Benefit Obligation and Expense

As of December 31, 2022, 2021, and 2020, the weighted average assumptions used to determine the benefit obligation related to the Executive Postretirement Benefit Plan are as follows:


	As of December 31,
	2022			2021			2020
Discount rate		5.01	%		2.71	%		2.36	%


	Years Ended December 31,
	2022			2021			2020
Discount rate		2.71	%		2.36	%		3.13	%

Summary of Benefit Payment are Expected in Next Five Year


(In thousands of U.S. Dollars)
2023	$	10
2024		10
2025		11
2026		23
2027		24
Thereafter		888
Total	$	966

Postretirement Benefits Canadian Employees [Member]

Defined Benefit Plans And Other Postretirement Benefit Plans Table Text Block [Line Items]

Summary of Amounts Accrued for the SERP

As of December 31, 2022 and 2021, the Company’s Consolidated Balance Sheets include the following amounts within Accrued and Other Liabilities related to the Canadian Postretirement Benefit Plan:


	As of December 31,
(In thousands of U.S. Dollars)	2022			2021
Projected benefit obligations:
Obligation, beginning of year	$	1,702		$	1,862
Interest cost		46			42
Benefits paid		(155	)		(118	)
Actuarial gain		(539	)		(92	)
Unrealized foreign exchange (gain) loss		(78	)		8
Obligation, end of year and unfunded status	$	976		$	1,702

Summary of Accumulated Other Comprehensive (Loss) Income and Components of Net Periodic Benefit Cost in Future Periods


	As of December 31,
(In thousands of U.S. Dollars)	2022			2021		2020
Unrealized actuarial (gain) loss	$	(354	)	$	185	$	277

Summary of Disclosure of Pension Expense

For the years ended December 31, 2022, 2021, and 2020, the components of pension expense related to the Canadian Postretirement Benefit Plan were as follows:


	Years Ended December 31,
(In thousands of U.S. Dollars)	2022		2021		2020
Interest cost	$	46	$	42	$	47
Pension expense	$	46	$	42	$	47

Summary of Weighted Average Assumptions Used to Determine the Benefit Obligation and Expense

As December 31, 2022, 2021, and 2020, the weighted average assumptions used to determine the benefit obligation related to the Canadian Postretirement Benefit Plan are as follows:


	As of December 31,
	2022			2021			2020
Discount rate		5.00	%		2.80	%		2.30	%


	Years Ended December 31,
	2022			2021			2020
Discount rate		2.80	%		2.30	%		3.05	%

Summary of Benefit Payment are Expected in Next Five Year


(In thousands of U.S. Dollars)
2023	$	94
2024		94
2025		95
2026		87
2027		86
Thereafter		1,082
Total	$	1,538

Non-Controlling Interests (Tables)

12 Months Ended

Dec. 31, 2022

Temporary Equity Disclosure [Abstract]

Summary of Movement of the Non-controlling Interest in Temporary Equity in Original Film Fund

The following summarizes the movement of the non-controlling interest in temporary equity, in the Original Film Fund for the years ended December 31, 2022, 2021 and 2020:


(In thousands of U.S. Dollars)
Balance as of January 1, 2020	$	5,908
Return of capital to non-controlling interests		(10	)
Net loss		(5,139	)
Balance as of December 31, 2020		759
Net loss		(1	)
Balance as of December 31, 2021		758
Net loss		(36	)
Balance as of December 31, 2022	$	722

Description of the Business - Additional Information (Details)	Dec. 31, 2022 Multiplex TheaterSystem Destination Country Institutionallocation	Dec. 31, 2021 Multiplex TheaterSystem Destination Country Institutionallocation
Description of Business (Textuals) [Abstract]
Number of theater systems operating \| TheaterSystem	1,716	1,683
Number of Countries and Territories in which Entity Operates \| Country	87	87
Number of commercial multiplexes \| Multiplex	1,633	1,599
Number of commercial destinations \| Destination	12	12
Number of institutional locations \| Institutionallocation	71	72
IMAX China Noncontrolling Interest
Description of Business (Textuals) [Abstract]
Minority Interest Ownership Percentage By Company	71.73%	71.11%

Impact of COVID-19 Pandemic - Additional Information (Details)	Dec. 31, 2022
Impact of COVID-19 Pandemic [Member] \| IMAX [Member] \| Greater China [Member]
Impact Of Coronavirus Nineteen Pandemic [Line Items]
Percentage of global theater network open	97.00%

Summary of Significant Accounting Policies - Additional Information (Details) $ in Thousands		12 Months Ended
	Feb. 20, 2023 USD ($)	Dec. 31, 2022 USD ($) Lease Theater	Sep. 07, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Significant Accounting Policies [Line Items]
Other equity \| $		$ 185,678		$ 174,620
Non-controlling interests \| $		65,691		73,531
Total shareholders' equity \| $		$ 329,046		$ 429,614	$ 464,008
Number of variable interest entities		ten
Period of revenue estimation from initial film release		10 years
Fixed contracted theater value \| $		$ 22,900
Percentage of statutory net profits to statutory surplus reserve to be appropriated		10.00%
Discontinuation of contribution, Aggregate sum of statutory surplus reserve more than its registered capital, percent		50.00%
Lessee, operating lease, existence of option to extend term		true
Lessee, operating lease, existence of option to extend description		The Company has determined that it is reasonably certain that the renewal options on its warehouse leases will be exercised based on previous history, its current understanding of future business needs, and its level of investment in the leasehold improvements, among other factors.
Lessee, operating lease, assumptions for discount rate		The incremental borrowing rate used in the calculation of the Company’s lease liabilities is based on the location of each leased property.
Leases include options to purchase leased property \| Lease		0
Lessee, operating lease, existence of residual value		false
Lessee, operating lease, sublease options		The Company rents or subleases certain office space to third parties, which have a remaining term of less than 12 months and are not expected to be renewed.
Pension policy details		10.00%
Remaining weighted average service life of employee		3.0 years
Unsecured pre-petition claims related to receivable from bankruptcy entities \| $			$ 11,400
CineworldGroupPlc \| Trade Agreement [Member] \| Subsequent Event
Significant Accounting Policies [Line Items]
Proceeds from receivables \| $	$ 7,200
Russia [Member]
Significant Accounting Policies [Line Items]
Number of backlog theaters \| Theater		14
Number of theaters \| Theater		54
Ukraine [Member]
Significant Accounting Policies [Line Items]
Number of backlog theaters \| Theater		1
Number of theaters \| Theater		8
Belarus [Member]
Significant Accounting Policies [Line Items]
Number of backlog theaters \| Theater		5
Number of theaters \| Theater		1
Performance Share Units [Member]
Significant Accounting Policies [Line Items]
Share-based compensation arrangement by share-based payment award, award vesting period		3 years
Minimum [Member]
Significant Accounting Policies [Line Items]
Finite-Lived Intangible Assets, Useful Life		4 years
Lessee, operating lease, renewal term		1 year
Minimum [Member] \| Performance Share Units [Member]
Significant Accounting Policies [Line Items]
Share-based compensation arrangement by share-based payment award, award vesting rights, percentage		0.00%
Maximum [Member]
Significant Accounting Policies [Line Items]
Finite-Lived Intangible Assets, Useful Life		20 years
Lessee, operating lease, renewal term		5 years
Maximum [Member] \| Performance Share Units [Member]
Significant Accounting Policies [Line Items]
Share-based compensation arrangement by share-based payment award, award vesting rights, percentage		175.00%
Variable Interest Entity, Primary Beneficiary [Member]
Significant Accounting Policies [Line Items]
Number of variable interest entities primary beneficiary		five
Variable Interest Entity, Not Primary Beneficiary [Member]
Significant Accounting Policies [Line Items]
Number of variable interest entities not a primary beneficiary		five

Summary of Significant Accounting Policies - VIEs Total Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Variable Interest Entity [Line Items]
Variable Interest Entity, Consolidated, Carrying Amount, Total Assets	$ 821,154	$ 883,247
Variable Interest Entity, Consolidated, Carrying Amount, Total Liabilities	491,386	452,875
Variable Interest Entity, Primary Beneficiary [Member]
Variable Interest Entity [Line Items]
Variable Interest Entity, Consolidated, Carrying Amount, Total Assets	1,523	1,576
Variable Interest Entity, Consolidated, Carrying Amount, Total Liabilities	$ 248	$ 259

- Definition

Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
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- Definition

Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future.

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Summary of Significant Accounting Policies - Summary of Estimated Useful Lives (Details)

12 Months Ended

Dec. 31, 2022

Leasehold Improvements [Member]

Property Plant And Equipment [Line Items]

Property, Plant And Equipment, Useful Life, Maximum

Over the shorter of the initial term of the underlying lease plus any reasonably assured renewal

Minimum [Member] | Theater System Components [Member]

Property Plant And Equipment [Line Items]

Property, Plant and Equipment, Useful Life

7 years

^[1]

Minimum [Member] | Camera Equipment [Member]

Property Plant And Equipment [Line Items]

Property, Plant and Equipment, Useful Life

5 years

Minimum [Member] | Buildings [Member]

Property Plant And Equipment [Line Items]

Property, Plant and Equipment, Useful Life

20 years

Minimum [Member] | Office and Production Equipment [Member]

Property Plant And Equipment [Line Items]

Property, Plant and Equipment, Useful Life

3 years

Maximum [Member] | Theater System Components [Member]

Property Plant And Equipment [Line Items]

Property, Plant and Equipment, Useful Life

20 years

^[1]

Maximum [Member] | Camera Equipment [Member]

Property Plant And Equipment [Line Items]

Property, Plant and Equipment, Useful Life

10 years

Maximum [Member] | Buildings [Member]

Property Plant And Equipment [Line Items]

Property, Plant and Equipment, Useful Life

25 years

Maximum [Member] | Office and Production Equipment [Member]

Property Plant And Equipment [Line Items]

Property, Plant and Equipment, Useful Life

5 years

[1]	Includes equipment under joint revenue sharing arrangements.

New Accounting Standards and Accounting Changes - Additional Information (Details)	Dec. 31, 2022
ASU 2021-05
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Change in Accounting Principle, Accounting Standards Update, Adopted [true false]	true
Change in Accounting Principle, Accounting Standards Update, Adoption Date	Jan. 01, 2022
Change in Accounting Principle, Accounting Standards Update, Immaterial Effect [true false]	true
ASU 2021-08
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Change in Accounting Principle, Accounting Standards Update, Adopted [true false]	true
Change in Accounting Principle, Accounting Standards Update, Adoption Date	Jul. 01, 2022
Change in Accounting Principle, Accounting Standards Update, Early Adoption [true false]	true
ASU 2021-10
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Change in Accounting Principle, Accounting Standards Update, Adopted [true false]	true
Change in Accounting Principle, Accounting Standards Update, Adoption Date	Jan. 01, 2022

- Definition

Indicates (true false) whether accounting standards update was adopted.

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+ Details

Acquisition - Additional Information (Details) - USD ($) $ in Thousands		3 Months Ended	12 Months Ended
	Sep. 22, 2022	Dec. 31, 2022	Dec. 31, 2022
Business Acquisition [Line Items]
Cash payments			$ 15,939
Professional fees			1,100
Purchase price allocation from goodwill		$ 11,200	11,200
SSIMWAVE Inc. [Member]
Business Acquisition [Line Items]
Business acquisition, date of acquisition agreement	Sep. 22, 2022
Total Purchase Price	$ 23,218
Cash payments	$ 19,521
Number of common shares issued	160,547
Business combination common shares with fair value	$ 1,947
Contingent consideration fair value	1,750
Business combination maximum amount of possible earn out payment paid to sellers in aggregate amount	2,000
Purchase price allocation from goodwill	11,189	11,200	11,200
Deferred tax liability	$ 2,037	2,000	$ 2,000
Additional payment to former shareholders		$ 100

Acquisition - Schedule of Subject to Revision Upon Completion of Valuation Procedures (Details) - USD ($) $ in Thousands		12 Months Ended
	Sep. 22, 2022	Dec. 31, 2022	Dec. 31, 2021
Business Acquisition [Line Items]
Cash payments		$ 15,939
Intangible assets		11,200
Goodwill		52,815	$ 39,027
SSIMWAVE Inc. [Member]
Business Acquisition [Line Items]
Cash payments	$ 19,521
IMAX Share Consideration	1,947
Earn-Out Payment	1,750
Total Purchase Price	23,218
Cash and cash equivalents	3,582
Accounts receivable	158
Property, plant and equipment	409
Intangible assets	11,189	11,200
Other assets	293
Accounts payable and accrued liabilities	(1,092)
Deferred revenue	(1,300)
Federal economic development loan, net of unaccreted interest benefit	(1,772)
Deferred tax liability	(2,037)	(2,000)
Goodwill	13,788	$ 13,800
Total Purchase Price	$ 23,218

Acquisition - Schedule of Allocation of Fair Value of Identifiable Intangible Assets (Details) - USD ($) $ in Thousands		12 Months Ended
	Sep. 22, 2022	Dec. 31, 2022
Business Acquisition [Line Items]
Total identifiable intangible assets, Fair Value		$ 11,200
SSIMWAVE Inc. [Member]
Business Acquisition [Line Items]
Total identifiable intangible assets, Fair Value	$ 11,189	$ 11,200
SSIMWAVE Inc. [Member] \| In-process Research and Development [Member]
Business Acquisition [Line Items]
Indefinite lived intangible assets, Fair Value	3,810
Acquired Indefinite Lived Intangible Assets Weighted Average Useful Life		Not yet in use
SSIMWAVE Inc. [Member] \| Patent and Trademarks [Member]
Business Acquisition [Line Items]
Finite lived intangible assets, Fair Value	$ 100
Finite lived intangible assets, Weighted Average Useful Life	2 years
SSIMWAVE Inc. [Member] \| Customer Relationships [Member]
Business Acquisition [Line Items]
Finite lived intangible assets, Fair Value	$ 1,340
Finite lived intangible assets, Weighted Average Useful Life	7 years
SSIMWAVE Inc. [Member] \| Developed Technology [Member]
Business Acquisition [Line Items]
Finite lived intangible assets, Fair Value	$ 5,779
SSIMWAVE Inc. [Member] \| Developed Technology [Member] \| Minimum [Member]
Business Acquisition [Line Items]
Finite lived intangible assets, Weighted Average Useful Life	4 years
SSIMWAVE Inc. [Member] \| Developed Technology [Member] \| Maximum [Member]
Business Acquisition [Line Items]
Finite lived intangible assets, Weighted Average Useful Life	7 years
SSIMWAVE Inc. [Member] \| Non-compete Agreement [Member]
Business Acquisition [Line Items]
Finite lived intangible assets, Fair Value	$ 160
Finite lived intangible assets, Weighted Average Useful Life	4 years

Receivables - Summary of Allowance For Credit Losses Related to Accounts Receivable (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Accounts Receivable Allowance For Credit Loss [Line Items]
Beginning balance	$ 11,946	$ 14,295
Current period provision (reversal), net	3,144	(1,452)
Write-offs	(565)	(927)
Foreign exchange	(406)	30
Ending balance	14,119	11,946
Theatre Operators [Member]
Accounts Receivable Allowance For Credit Loss [Line Items]
Beginning balance	8,867	8,368
Current period provision (reversal), net	2,687	793
Write-offs	(43)	(357)
Foreign exchange	(367)	63
Ending balance	11,144	8,867
Studios [Member]
Accounts Receivable Allowance For Credit Loss [Line Items]
Beginning balance	1,994	4,481
Current period provision (reversal), net	(128)	(1,913)
Write-offs	(128)	(551)
Foreign exchange	(39)	(23)
Ending balance	1,699	1,994
Other [Member]
Accounts Receivable Allowance For Credit Loss [Line Items]
Beginning balance	1,085	1,446
Current period provision (reversal), net	585	(332)
Write-offs	(394)	(19)
Foreign exchange		(10)
Ending balance	$ 1,276	$ 1,085

Receivables - Additional Information (Details) - USD ($)		12 Months Ended
	Feb. 20, 2023	Dec. 31, 2022	Dec. 31, 2021	Sep. 07, 2022
Current Expected Credit Losses [Line Items]
Unsecured pre-petition claims related to receivable from bankruptcy entities				$ 11,400,000
Finance income related to net investment in leases with billed amounts past due		$ 100,000	$ 100,000
Finance Income related to the net investment in leases in nonaccrual status		0	0
Finance income related to financed sale receivables with billed amounts past due		3,600,000	3,700,000
Finance Income related to the financed sales receivables in nonaccrual status		500,000	200,000
Theatre And Foreign Movie Studio [Member]
Current Expected Credit Losses [Line Items]
Increase (decrease) in allowance for current expected credit losses, accounts receivables		2,200,000	(2,300,000)
Additional reserve allowances		1,500,000
Theatre Operators [Member]
Current Expected Credit Losses [Line Items]
Increase (decrease) in allowance for current expected credit losses, variable consideration receivables		500,000	800,000
Theatre Operators [Member] \| Variable Consideration Receivables [Member]
Current Expected Credit Losses [Line Items]
Increase (decrease) investment in leases and financed sale receivables provision for current expected credit losses		$ 5,500,000	$ 1,600,000
Trade Agreement [Member] \| Cineworld Group Plc [Member] \| Subsequent Event
Current Expected Credit Losses [Line Items]
Proceeds from receivables	$ 7,200,000

Receivables - Schedule of Financing Receivables (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Net investment in leases
Gross minimum payments due under sales-type leases	$ 29,727	$ 29,953
Unearned finance income	(619)	(763)
Present value of minimum payments due under sales-type leases	29,108	29,190
Allowance for credit losses	(776)	(798)
Net investment in leases	28,332	28,392
Financed sales receivables
Gross minimum payments due under financed sales	141,337	152,315
Unearned finance income	(29,340)	(34,244)
Present value of minimum payments due under financed sales	111,997	118,071
Allowance for credit losses	(10,945)	(5,414)
Net financed sales receivables	101,052	112,657
Total financing receivables	129,384	141,049
Net financed sales receivables due within one year	32,366	29,115
Net financed sales receivables due after one year	68,686	83,542
Net financed sales receivables	$ 101,052	$ 112,657

Receivables - Schedule of Weighted-average Remaining Lease Term and Weighted-average Interest Rate (Details)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Weighted-average remaining lease term (in years)
Sales-type lease arrangements	9 years	9 years 7 months 6 days
Weighted-average interest rate
Sales-type lease arrangements	8.23%	6.56%
Financed sales receivables	8.79%	8.79%

Receivables - Schedule of Net Investment In Leases by Credit Quality Indicator (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Net Investment In Lease Credit Quality Indicator [Line Items]
Net investment leases, By Origination Year, Current fiscal year	$ 4,148	$ 11,030
Net investment leases, By Origination Year, Before latest fiscal year	10,058	3,991
Net investment leases, By Origination Year, Two years before latest fiscal year	3,656	7,973
Net investment leases, By Origination Year, Three years before latest fiscal year	7,378	2,574
Net investment leases, By Origination Year, Four years before latest fiscal year	2,451	823
Net investment leases, By Origination Year, Prior	1,417	2,799
Net Investment in Lease, Total	29,108	29,190
In Good Standing [Member]
Net Investment In Lease Credit Quality Indicator [Line Items]
Net investment leases, By Origination Year, Current fiscal year	4,148	11,030
Net investment leases, By Origination Year, Before latest fiscal year	6,969	3,991
Net investment leases, By Origination Year, Two years before latest fiscal year	2,494	7,973
Net investment leases, By Origination Year, Three years before latest fiscal year	1,977	2,574
Net investment leases, By Origination Year, Four years before latest fiscal year		823
Net investment leases, By Origination Year, Prior	1,016	1,928
Net Investment in Lease, Total	16,604	28,319
Pre-Approved Transactions [Member]
Net Investment In Lease Credit Quality Indicator [Line Items]
Net investment leases, By Origination Year, Before latest fiscal year	3,089
Net investment leases, By Origination Year, Two years before latest fiscal year	1,162
Net investment leases, By Origination Year, Three years before latest fiscal year	5,401
Net investment leases, By Origination Year, Four years before latest fiscal year	2,451
Net Investment in Lease, Total	12,103
Transactions Suspended [Member]
Net Investment In Lease Credit Quality Indicator [Line Items]
Net investment leases, By Origination Year, Prior	401	871
Net Investment in Lease, Total	$ 401	$ 871

Receivables - Schedule of Financed Sale Receivables by Credit Quality Indicator (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Financing Receivable Recorded Investment [Line Items]
Financed sales receivables, By Origination Year, Current fiscal year	$ 10,524	$ 12,520
Financed sales receivables, By Origination Year, Before lastest fiscal year	11,625	8,251
Financed sales receivables, By Origination Year, Two year before latest fiscal year	7,821	11,671
Financed sales receivables, By Origination Year, Three year before latest fiscal year	10,944	13,696
Financed sales receivables, By Origination Year, Four year before latest fiscal year	12,500	15,714
Financed sales receivables, By Origination Year, Prior	58,583	56,219
Financed sales receivables, Total	141,105	147,261
Financing Receivable [Member]
Financing Receivable Recorded Investment [Line Items]
Financed sales receivables, Total	111,997	118,071
In Good Standing [Member]
Financing Receivable Recorded Investment [Line Items]
Financed sales receivables, By Origination Year, Current fiscal year	10,252	12,520
Financed sales receivables, By Origination Year, Before lastest fiscal year	8,643	8,251
Financed sales receivables, By Origination Year, Two year before latest fiscal year	6,280	10,593
Financed sales receivables, By Origination Year, Three year before latest fiscal year	8,541	13,278
Financed sales receivables, By Origination Year, Four year before latest fiscal year	9,854	12,615
Financed sales receivables, By Origination Year, Prior	39,912	47,950
In Good Standing [Member] \| Financing Receivable [Member]
Financing Receivable Recorded Investment [Line Items]
Financed sales receivables, Total	83,482	105,207
Credit Watch [Member]
Financing Receivable Recorded Investment [Line Items]
Financed sales receivables, By Origination Year, Four year before latest fiscal year		321
Financed sales receivables, By Origination Year, Prior	1,152	1,292
Credit Watch [Member] \| Financing Receivable [Member]
Financing Receivable Recorded Investment [Line Items]
Financed sales receivables, Total	1,152	1,613
Pre-Approved Transactions [Member]
Financing Receivable Recorded Investment [Line Items]
Financed sales receivables, By Origination Year, Before lastest fiscal year	2,318
Financed sales receivables, By Origination Year, Two year before latest fiscal year	1,399	743
Financed sales receivables, By Origination Year, Three year before latest fiscal year	1,134	418
Financed sales receivables, By Origination Year, Four year before latest fiscal year	1,449	2,098
Financed sales receivables, By Origination Year, Prior	9,243	3,650
Pre-Approved Transactions [Member] \| Financing Receivable [Member]
Financing Receivable Recorded Investment [Line Items]
Financed sales receivables, Total	15,543	6,909
Transactions Suspended [Member]
Financing Receivable Recorded Investment [Line Items]
Financed sales receivables, By Origination Year, Current fiscal year	272
Financed sales receivables, By Origination Year, Before lastest fiscal year	664
Financed sales receivables, By Origination Year, Two year before latest fiscal year	142	335
Financed sales receivables, By Origination Year, Three year before latest fiscal year	1,269
Financed sales receivables, By Origination Year, Four year before latest fiscal year	1,197	680
Financed sales receivables, By Origination Year, Prior	8,276	3,327
Transactions Suspended [Member] \| Financing Receivable [Member]
Financing Receivable Recorded Investment [Line Items]
Financed sales receivables, Total	$ 11,820	$ 4,342

Receivables - Schedule of Aging Analysis for Net Investment in Leases and Financed Sale Receivables (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Financing Receivable Recorded Investment Current And Past Due [Line Items]
Billed	$ 19,415	$ 12,765
Unbilled	121,690	134,496
Financed sales receivables, Total	141,105	147,261
Allowance for Credit Losses	(11,721)	(6,212)
Total financing receivables	129,384	141,049
Net Investment in Leases [Member]
Financing Receivable Recorded Investment Current And Past Due [Line Items]
Billed	3,046	1,648
Unbilled	26,062	27,542
Financed sales receivables, Total	29,108	29,190
Allowance for Credit Losses	(776)	(798)	$ (557)
Total financing receivables	28,332	28,392
Net Financed Sales Receivables [Member]
Financing Receivable Recorded Investment Current And Past Due [Line Items]
Billed	16,369	11,117
Unbilled	95,628	106,954
Financed sales receivables, Total	111,997	118,071
Allowance for Credit Losses	(10,945)	(5,414)	$ (7,274)
Total financing receivables	101,052	112,657
Accrued and Current [Member]
Financing Receivable Recorded Investment Current And Past Due [Line Items]
Billed	2,506	1,975
Accrued and Current [Member] \| Net Investment in Leases [Member]
Financing Receivable Recorded Investment Current And Past Due [Line Items]
Billed	237	225
Accrued and Current [Member] \| Net Financed Sales Receivables [Member]
Financing Receivable Recorded Investment Current And Past Due [Line Items]
Billed	2,269	1,750
30 to 89 Days Past Due [Member]
Financing Receivable Recorded Investment Current And Past Due [Line Items]
Billed	1,523	1,145
30 to 89 Days Past Due [Member] \| Net Investment in Leases [Member]
Financing Receivable Recorded Investment Current And Past Due [Line Items]
Billed	216	156
30 to 89 Days Past Due [Member] \| Net Financed Sales Receivables [Member]
Financing Receivable Recorded Investment Current And Past Due [Line Items]
Billed	1,307	989
Equal To Greater Than 90 Days Past Due [Member]
Financing Receivable Recorded Investment Current And Past Due [Line Items]
Billed	15,386	9,645
Equal To Greater Than 90 Days Past Due [Member] \| Net Investment in Leases [Member]
Financing Receivable Recorded Investment Current And Past Due [Line Items]
Billed	2,593	1,267
Equal To Greater Than 90 Days Past Due [Member] \| Net Financed Sales Receivables [Member]
Financing Receivable Recorded Investment Current And Past Due [Line Items]
Billed	$ 12,793	$ 8,378

Receivables - Schedule of Net Investment in Leases and Financed Sale Receivables with Billed Amounts Past Due Continues to Accrue Finance Income (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Financing Receivable Recorded Investment Past Due [Line Items]
Billed	$ 19,415	$ 12,765
Unbilled	121,690	134,496
Allowance for Credit Losses	(11,721)	(6,212)
Total financing receivables	129,384	141,049
Accrued and Current [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Billed	2,506	1,975
30 to 89 Days Past Due [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Billed	1,523	1,145
Equal To Greater Than 90 Days Past Due [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Billed	15,386	9,645
Net Investment in Leases [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Billed	3,046	1,648
Unbilled	26,062	27,542
Allowance for Credit Losses	(776)	(798)	$ (557)
Total financing receivables	28,332	28,392
Net Investment in Leases [Member] \| Accrued and Current [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Billed	237	225
Net Investment in Leases [Member] \| 30 to 89 Days Past Due [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Billed	216	156
Net Investment in Leases [Member] \| Equal To Greater Than 90 Days Past Due [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Billed	2,593	1,267
Net Financed Sales Receivables [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Billed	16,369	11,117
Unbilled	95,628	106,954
Allowance for Credit Losses	(10,945)	(5,414)	$ (7,274)
Total financing receivables	101,052	112,657
Net Financed Sales Receivables [Member] \| Accrued and Current [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Billed	2,269	1,750
Net Financed Sales Receivables [Member] \| 30 to 89 Days Past Due [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Billed	1,307	989
Net Financed Sales Receivables [Member] \| Equal To Greater Than 90 Days Past Due [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Billed	12,793	8,378
Net Investment in Leases and Financed Sale Receivables Continue to Accrue Finance Income [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Billed	16,443	8,978
Unbilled	60,242	54,058
Allowance for Credit Losses	(1,817)	(1,589)
Total financing receivables	74,868	61,447
Net Investment in Leases and Financed Sale Receivables Continue to Accrue Finance Income [Member] \| Accrued and Current [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Billed	1,740	1,102
Net Investment in Leases and Financed Sale Receivables Continue to Accrue Finance Income [Member] \| 30 to 89 Days Past Due [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Billed	1,296	861
Net Investment in Leases and Financed Sale Receivables Continue to Accrue Finance Income [Member] \| Equal To Greater Than 90 Days Past Due [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Billed	13,407	7,015
Net Investment in Leases and Financed Sale Receivables Continue to Accrue Finance Income [Member] \| Net Investment in Leases [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Billed	2,964	1,100
Unbilled	17,070	12,619
Allowance for Credit Losses	(230)	(176)
Total financing receivables	19,804	13,543
Net Investment in Leases and Financed Sale Receivables Continue to Accrue Finance Income [Member] \| Net Investment in Leases [Member] \| Accrued and Current [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Billed	190	143
Net Investment in Leases and Financed Sale Receivables Continue to Accrue Finance Income [Member] \| Net Investment in Leases [Member] \| 30 to 89 Days Past Due [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Billed	181	132
Net Investment in Leases and Financed Sale Receivables Continue to Accrue Finance Income [Member] \| Net Investment in Leases [Member] \| Equal To Greater Than 90 Days Past Due [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Billed	2,593	825
Net Investment in Leases and Financed Sale Receivables Continue to Accrue Finance Income [Member] \| Net Financed Sales Receivables [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Billed	13,479	7,878
Unbilled	43,172	41,439
Allowance for Credit Losses	(1,587)	(1,413)
Total financing receivables	55,064	47,904
Net Investment in Leases and Financed Sale Receivables Continue to Accrue Finance Income [Member] \| Net Financed Sales Receivables [Member] \| Accrued and Current [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Billed	1,550	959
Net Investment in Leases and Financed Sale Receivables Continue to Accrue Finance Income [Member] \| Net Financed Sales Receivables [Member] \| 30 to 89 Days Past Due [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Billed	1,115	729
Net Investment in Leases and Financed Sale Receivables Continue to Accrue Finance Income [Member] \| Net Financed Sales Receivables [Member] \| Equal To Greater Than 90 Days Past Due [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Billed	$ 10,814	$ 6,190

Receivables - Schedule of Net Investment in Leases and Financed Sale Receivables on Nonaccrual Status (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Financing Receivable Nonaccrual Status [Line Items]
Recorded Receivable	$ 27,765	$ 9,513
Allowance for Credit Losses	(9,990)	(2,666)
Net	17,775	6,847
Net Investment in Leases [Member]
Financing Receivable Nonaccrual Status [Line Items]
Recorded Receivable	401	871
Allowance for Credit Losses	(401)	(309)
Net		562
Net Financed Sales Receivables [Member]
Financing Receivable Nonaccrual Status [Line Items]
Recorded Receivable	27,364	8,642
Allowance for Credit Losses	(9,589)	(2,357)
Net	$ 17,775	$ 6,285

Receivables - Summary of Allowance for Credit Losses Related to Net Investment in Leases and Financed Sale Receivables (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Financing Receivable Allowance For Credit Losses [Line Items]
Beginning balance	$ 6,212
Ending balance	11,721	$ 6,212
Net Investment in Leases [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Beginning balance	798	557
Current period provision (reversal), net	5	235
Foreign exchange	(27)	6
Ending balance	776	798
Net Financed Sales Receivables [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Beginning balance	5,414	7,274
Current period provision (reversal), net	5,783	(1,947)
Foreign exchange	(252)	87
Ending balance	$ 10,945	$ 5,414

- Definition

Amount of allowance for credit loss on financing receivable. Excludes allowance for financing receivable covered under loss sharing agreement.

+ References + Details

Receivables - Summary of Allowance For Credit Losses Related to Variable Consideration Receivables (Details) - Theatre Operators [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Accounts Receivable Allowance For Credit Loss [Line Items]
Beginning balance	$ 1,082	$ 1,887
Current period reversal, net	(440)	(787)
Foreign Exchange	(32)	(18)
Ending balance	$ 610	$ 1,082

Lease Arrangements - Additional Information (Details)	12 Months Ended
Lease Arrangements - Additional Information (Details)	Dec. 31, 2022 Lease
Leases [Line Items]
Lessee, operating lease description	The Company’s operating lease arrangements principally involve office and warehouse space. Office equipment is generally purchased outright. Leases with an initial term of less than 12 months are not recorded on the Consolidated Balance Sheets and the related lease expense is recognized on a straight-line basis over the lease term.
Lessee, operating lease, existence of option to extend term	true
Lessee, operating lease, existence of option to extend description	The Company has determined that it is reasonably certain that the renewal options on its warehouse leases will be exercised based on previous history, its current understanding of future business needs, and its level of investment in the leasehold improvements, among other factors.
Lessee, operating lease, assumptions for discount rate	The incremental borrowing rate used in the calculation of the Company’s lease liabilities is based on the location of each leased property.
Leases include options to purchase leased property	0
Lessee, operating lease, existence of residual value	false
Lessee, operating lease, sublease options	The Company rents or subleases certain office space to third parties, which have a remaining term of less than 12 months and are not expected to be renewed.
Lessor, sales-type lease description	The Company provides IMAX Systems to customers through long-term lease arrangements that for accounting purposes are classified as sales-type leases. Under these arrangements, in exchange for providing the IMAX System, the Company earns fixed upfront and ongoing consideration. Certain arrangements that are legal sales are also classified as sales-type leases as certain clauses within the arrangements limit transfer of title or provide the Company with conditional rights to the system.
Minimum [Member]
Leases [Line Items]
Lessee, operating lease, renewal term	1 year
Sales-type lease, lease term	10 years
Non-cancellable term of joint revenue sharing arrangements	10 years
Maximum [Member]
Leases [Line Items]
Lessee, operating lease, renewal term	5 years
Sales-type lease, lease term	20 years
Non-cancellable term of joint revenue sharing arrangements	or longer

Lease Arrangements - Components of Operating Lease Expense (Details) - Selling, General and Administrative Expenses [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Leases [Line Items]
Amortization of operating lease assets	$ 2,734	$ 2,791	$ 3,114
Interest on operating lease liabilities	825	937	1,052
Short-term and variable lease costs	616	713	540
Amortization of finance lease assets	171
Interest on finance lease liabilities	22
Total lease cost	$ 4,368	$ 4,441	$ 4,706

Lease Arrangements - Supplemental Cash and Non-Cash Flow Information Related to Leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
Operating leases	$ 3,783	$ 3,839	$ 3,743
Finance leases	948
Supplemental Disclosure of Noncash Leasing Activities [Abstract]
Right-of-use assets obtained in exchange for operating lease obligations	3,068	$ 1,047	$ 563
Right-of-use assets obtained in exchange for finance lease obligations	$ 1,990

Lease Arrangements - Lessee Operating Lease Balance Sheet Amounts and Lines (Details) - USD ($)
$ in Thousands

Dec. 31, 2022

Dec. 31, 2021

Leases [Line Items]

Operating lease right-of-use assets

$ 12,341

$ 12,132

Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]

Property, plant and equipment, net of accumulated depreciation

Finance lease right-of-use assets

$ 1,876

Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]

Property, Plant and Equipment, Net

Operating lease liabilities

$ 14,641

$ 14,691

Operating Lease, Liability, Statement of Financial Position [Extensible Enumeration]

Accrued Liabilities and Other Liabilities

Finance lease liabilities

^[1]

$ 1,011

Finance Lease, Liability, Statement of Financial Position [Extensible Enumeration]

Accrued Liabilities and Other Liabilities

[1]	Recorded net of a $0.9 million upfront payment made upon execution of the finance lease arrangement.

Lease Arrangements - Lessee Operating Lease Balance Sheet Amounts and Lines (Parenthetical) (Details) $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($)
Leases [Abstract]
Upfront payment made upon execution of finance lease	$ 0.9

Lease Arrangements - Lessee Leases Weighted Average Remaining Lease Term and Weighted Average Interest Rate (Details)	Dec. 31, 2022	Dec. 31, 2021
Operating Leases [Abstract]
Weighted-average remaining lease term (years)	6 years	7 years
Weighted-average discount rate	5.90%	5.97%
Finance Leases [Abstract]
Weighted-average remaining lease term (years)	4 years 8 months 12 days
Weighted-average discount rate	6.00%

Lease Arrangements - Lessee Operating and Finance Lease, Maturity (Details) - USD ($)
$ in Thousands

Dec. 31, 2022

Dec. 31, 2021

Lessee, Operating Lease, Liability, to be Paid [Abstract]

$ 3,639

3,017

2,429

2,069

2,094

4,171

17,419

Less: interest expense

(2,778)

Present value of lease liabilities

$ 14,641

$ 14,691

Operating Lease, Liability, Statement of Financial Position [Extensible Enumeration]

Accrued and other liabilities

Finance Lease, Liability, to be Paid [Abstract]

2023

$ 508

2024

508

Total lease payments

1,016

Less: interest expense

(5)

Present value of lease liabilities

^[1]

$ 1,011

Finance Lease, Liability, Statement of Financial Position [Extensible Enumeration]

Accrued Liabilities and Other Liabilities

[1]	Recorded net of a $0.9 million upfront payment made upon execution of the finance lease arrangement.

Lease Arrangements - Schedule of Maturities of Lease Receivables (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Sales-type leases
2023	$ 3,245
2024	3,158
2025	3,038
2026	2,823
2027	2,760
Thereafter	14,702
Total	29,726
Joint Revenue Sharing Arrangements
2023	172
2024	69
2025	27
Total	$ 268

Variable Consideration Receivable from Contracts With Customers - Summary of Variable Consideration Receivable from Contracts With Customers (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Change in Contract with Customer, Asset [Abstract]
Balance Beginning	$ 44,218	$ 40,526	$ 40,040
Variable consideration for newly recognized sales	7,109	4,696	5,550
Accretion to finance income	1,846	1,985	2,133
Transferred to receivables from variable consideration assets	(9,621)	(3,794)	(5,310)
Movement in allowance for credit losses	472	805	(1,887)
Balance Ending	$ 44,024	$ 44,218	$ 40,526

Inventories - Inventories (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Inventories
Raw materials	$ 25,365	$ 20,551
Work-in-process	2,034	1,406
Finished goods	4,135	4,967
Total	$ 31,534	$ 26,924

Inventories - Additional Information (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Inventories (Textuals) [Abstract]
Finished goods inventory with title passed to customer	$ 3.5	$ 2.6

Inventories - Summary of Inventory Valuation Allowance Account (Details) - Inventory Valuation Allowance [Member] - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2022

Dec. 31, 2021

Dec. 31, 2020

Inventory [Line Items]

Balance at beginning of year

$ 4,897

$ 5,752

$ 3,216

Additions charged to expenses

919

629

^[1]

3,028

^[1]

Other deductions

(77)

(1,484)

^[2]

(492)

^[2]

Balance at end of year

$ 5,739

$ 4,897

$ 5,752

[1]	Excludes a recovery of $0.2 million charged directly to the Consolidated Statements of Operations during the year ended December 31, 2022 (2021 and 2020 — expenses of $0.3 million, and $0.6 million, respectively).
[2]	Includes the write-off of amounts previously charged to valuation allowance.

Inventories - Summary of Inventory Valuation Allowance Account (Parenthetical) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Inventory [Abstract]
Inventory expenses (recovery) charged to statement of operation	$ (0.2)	$ 0.3	$ 0.6

Film Assets - Film Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Film, Capitalized Cost [Abstract]
Completed and released films, net of accumulated amortization of $218,148 (2020 - $202,832)	$ 1,227	$ 2,292
Films in production	1,667	195
Films in development	2,383	1,754
Film Costs, Total	$ 5,277	$ 4,241

Film Assets - Film Assets (Parenthetical) (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Film, Capitalized Cost [Abstract]
Accumulated amortization	$ 235,029	$ 218,148

Film Assets - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Film Assets [Line Items]
Film costs expected to be amortized within three years from balance sheet date				$ 5.2
Amount of participation payments expected to be made to third parties in the next operating cycle				3.8	$ 3.3
Documentary film asset impairments				$ 0.8	$ 0.2	$ 10.8
Forecast [Member]
Film Assets [Line Items]
Film costs, amortized in next operating cycle	$ 0.1	$ 0.2	$ 4.9

Property, Plant and Equipment - Property, Plant and Equipment (Details) - USD ($)
$ in Thousands

Dec. 31, 2022

Dec. 31, 2021

Property, plant and equipment

Cost

$ 519,251

$ 512,336

Accumulated Depreciation

266,355

251,983

Net Book Value

252,896

260,353

System Components [Member]

Property, plant and equipment

Cost

^[1],[2],[3]

345,960

346,517

Accumulated Depreciation

^[1],[2],[3]

194,444

181,936

Net Book Value

^[1],[2],[3]

151,516

164,581

Camera Equipment [Member]

Property, plant and equipment

Cost

8,597

4,855

Accumulated Depreciation

3,859

3,214

Net Book Value

4,738

1,641

Equipment leased or held for use [Member]

Property, plant and equipment

Cost

354,557

351,372

Accumulated Depreciation

198,303

185,150

Net Book Value

156,254

166,222

Asset under Construction [Member]

Property, plant and equipment

Cost

^[4]

14,379

10,232

Accumulated Depreciation

^[4]

Net Book Value

^[4]

14,379

10,232

Right Of Use Assets

Property, plant and equipment

Cost

^[5]

14,615

14,429

Accumulated Depreciation

^[5]

398

2,297

Net Book Value

^[5]

14,217

12,132

Land [Member]

Property, plant and equipment

Cost

8,203

Accumulated Depreciation

Net Book Value

8,203

Buildings [Member]

Property, plant and equipment

Cost

81,053

80,973

Accumulated Depreciation

31,519

28,873

Net Book Value

49,534

52,100

Office and Production Equipment [Member]

Property, plant and equipment

Cost

^[6]

38,485

39,017

Accumulated Depreciation

^[6]

31,360

31,169

Net Book Value

^[6]

7,125

7,848

Leasehold Improvements [Member]

Property, plant and equipment

Cost

7,959

8,110

Accumulated Depreciation

4,775

4,494

Net Book Value

3,184

3,616

Other property, plant and equipment [Member]

Property, plant and equipment

Cost

135,700

136,303

Accumulated Depreciation

67,654

64,536

Net Book Value

$ 68,046

$ 71,767

[1]	In 2022, the Company recorded charges of $1.0 million (2021 — $0.4 million; 2020 — $1.8 million) in Costs and Expenses Applicable to Technology Rentals mostly related to the write-down of leased xenon-based digital systems which were taken out of service in connection with customer upgrades to laser-based digital systems, as well as an IMAX System that was removed from its existing location.
[2]	Included in system components are assets with costs of $323.7 million (2021 — $324.3 million) and accumulated depreciation of $177.9 million (2021 — $166.5 million) that are used in joint revenue sharing arrangements.
[3]	Included in system components are assets with costs of $7.6 million (2021 — $7.6 million) and accumulated depreciation of $7.2 million (2021 — $7.0 million) that are leased to customers under operating leases.
[4]	Included in assets under construction are components with costs of $9.1 million (2021 — $9.2 million) that will be utilized to construct assets to be used in joint revenue sharing arrangements.
[5]	The right-of-use assets primarily include operating leases for office and warehouse space.
[6]	Fully depreciated office and production equipment is still in use by the Company. In 2022, the Company identified and wrote off $3.5 million (2021 — $0.5 million) of office and production equipment that is fully depreciated and no longer in use.

Property, Plant and Equipment - Property, Plant and Equipment (Parenthetical) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
System Components [Member]
Property, plant and equipment
Assets leased to customers under operating lease, Gross	$ 7.6	$ 7.6
Accumulated Depreciation, assets leased to customers under operating lease	7.2	7.0
Assets under joint revenue sharing arrangements included in Theater system components	323.7	324.3
Accumulated Depreciation , Assets under joint revenue sharing arrangements included in Theater system components	177.9	166.5
Theater system components written off in Costs and expenses	1.0	0.4	$ 1.8
Asset under Construction [Member]
Property, plant and equipment
Assets under joint revenue sharing arrangements included in Assets under construction	9.1	9.2
Office and Production Equipment [Member]
Property, plant and equipment
Fully amortized office and production equipment written off in the period	$ 3.5	$ 0.5

Property, Plant and Equipment - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Other property, plant and equipment [Member]
Property Plant And Equipment [Line Items]
Property plant and equipment write downs no longer in use	$ 0.1	$ 0.2	$ 0.2

Other Assets - Schedule of Other Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Other Assets [Abstract]
Lease incentives provided to exhibitor customers, net of accumulated amortization	$ 12,975	$ 14,834
Commissions and other deferred selling expenses	1,336	1,418
Other investments	1,000	1,000
Foreign currency derivatives	50	184
Other	304	363
Other assets, total	$ 15,665	$ 17,799

Income Taxes - Schedule of (Loss) Income Before Taxes by Jurisdiction (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Taxes Disclosure [Line Items]
(Loss) income before taxes	$ (9,769)	$ 10,987	$ (129,124)
Canada [Member]
Income Taxes Disclosure [Line Items]
(Loss) income before taxes	(55,623)	(55,480)	(104,166)
United States [Member]
Income Taxes Disclosure [Line Items]
(Loss) income before taxes	4,281	3,218	(6,437)
China [Member]
Income Taxes Disclosure [Line Items]
(Loss) income before taxes	11,466	53,792	(8,253)
Ireland [Member]
Income Taxes Disclosure [Line Items]
(Loss) income before taxes	24,070	829	(7,473)
Other [Member]
Income Taxes Disclosure [Line Items]
(Loss) income before taxes	$ 6,037	$ 8,628	$ (2,795)

Income Taxes - Schedule of Income Tax (Expense) Benefit (Details) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2022

Dec. 31, 2021

Dec. 31, 2020

Income Taxes Disclosure [Line Items]

Current income tax (expense) benefit, Total

$ (12,181)

$ (17,568)

$ (2,886)

Deferred income tax (expense) benefit, Total

2,073

(2,996)

(23,618)

Total

^[1]

(10,108)

(20,564)

(26,504)

Canada [Member]

Income Taxes Disclosure [Line Items]

Current income tax (expense) benefit, Total

(1,149)

(915)

555

Deferred income tax (expense) benefit, Total

^[2]

943

(231)

(10,801)

United States [Member]

Income Taxes Disclosure [Line Items]

Current income tax (expense) benefit, Total

(274)

(1,038)

488

Deferred income tax (expense) benefit, Total

(131)

(1,268)

867

China [Member]

Income Taxes Disclosure [Line Items]

Current income tax (expense) benefit, Total

(4,437)

(11,045)

(1,980)

Deferred income tax (expense) benefit, Total

^[3]

2,763

(381)

(15,756)

Ireland [Member]

Income Taxes Disclosure [Line Items]

Current income tax (expense) benefit, Total

(2,802)

(1,358)

(1,462)

Deferred income tax (expense) benefit, Total

(1,562)

(997)

2,161

Other [Member]

Income Taxes Disclosure [Line Items]

Current income tax (expense) benefit, Total

(3,519)

(3,212)

(487)

Deferred income tax (expense) benefit, Total

$ 60

$ (119)

$ (89)

[1]	For the year ended December 31, 2022, Income Tax (Expense) Benefit excludes a tax expense of $0.8 million included in Other Comprehensive (Loss) Income (2021 — benefit of $0.3 million; 2020 — benefit of $0.1 million).
[2]	A valuation allowance is recorded in jurisdictions where management has determined, based on the weight of all available evidence, both positive and negative, that a valuation allowance for deferred tax assets is required. For the year ended December 31, 2022, the Company recorded a $16.9 million valuation allowance against its deferred tax assets in Canada and China primarily as a result of uncertainties related to the long-term impact of the COVID-19 pandemic (2021 — $17.2 million). The $16.9 million increase in the valuation allowance recorded in 2022 is reflected within Income Tax Expense in the Company’s Consolidated Statements of Operations.
[3]	he Company's deferred tax liability of $17.6 million as of December 31, 2021 was for the estimated applicable foreign withholding taxes associated with historical earnings that were not indefinitely reinvested, which will become payable upon the repatriation of any such earnings. During the year ended December 31, 2022, $27.4 million of historical earnings from a subsidiary in China were distributed and, as a result, $2.7 million of foreign withholding taxes were paid to the relevant tax authorities. The remaining deferred tax liability on the Company’s Consolidated Balance Sheets as of December 31, 2022 is $14.9 million.

Income Taxes - Schedule of Income Tax (Expense) Benefit (Parenthetical) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Taxes Disclosure [Line Items]
Deferred tax asset, valuation allowance	$ 62,864	$ 46,014
Deferred income tax asset, valuation allowance change	16,900	17,200
Deferred tax liability	14,900	17,642
Deferred income tax (benefit) expense	(2,073)	2,996	$ 23,618
Payment of foreign withholding taxes	2,700	2,000
Other comprehensive (loss) income, income tax effect	818	(286)	(55)
Canada [Member]
Income Taxes Disclosure [Line Items]
Deferred tax asset, valuation allowance	16,900	17,200
China [Member]
Income Taxes Disclosure [Line Items]
Deferred tax asset, valuation allowance	16,900	17,200
Foreign Country [Member]
Income Taxes Disclosure [Line Items]
Deferred income tax (benefit) expense	131	1,268	$ (867)
Foreign Country [Member] \| China [Member]
Income Taxes Disclosure [Line Items]
Deferred income tax (benefit) expense	27,400
Shareholder's Equity [Member]
Income Taxes Disclosure [Line Items]
Deferred income tax asset, valuation allowance change		2,500
Income Tax Expense [Member]
Income Taxes Disclosure [Line Items]
Deferred income tax asset, valuation allowance change	$ 16,900	$ 14,700

Income Taxes - Schedule of Reconciliation of Income Tax Expense to Statutory Rates (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Income tax (expense) benefit at combined statutory rates, Amount	$ 2,596	$ (2,912)	$ 34,218
NCI share of partnership losses, Amount		(1)	(1,229)
Increase in valuation allowance, Amount	(16,848)	(14,722)	(28,589)
Changes to tax reserves, Amount	1,643	3,508	(2,699)
U.S. federal and state taxes, Amount	(86)	(80)	(250)
Withholding taxes, Amount	(3,825)	(4,199)	(20,943)
Income tax at different rates in foreign and other provincial jurisdictions, Amount	3,872	3,352	(2,607)
Investment and other tax credits (non-refundable), Amount	752	413	643
Changes to deferred tax assets and liabilities resulting from audit and other tax return adjustments, Amount	2,278	(5,336)	(1,219)
Other non-deductible/non-taxable items, Amount	(490)	(587)	(3,829)
Income tax expense	$ (10,108)	$ (20,564)	$ (26,504)
Income tax (expense) benefit at combined statutory rates, Rate	26.50%	26.50%	26.50%
Non-controlling interests share of partnership losses, Rate	0.00%	0.00%	(1.00%)
Increase in valuation allowance, Rate	(172.50%)	134.00%	(22.10%)
Changes to tax reserves, Rate	16.80%	(31.90%)	(2.10%)
U.S. federal and state taxes, Rate	(0.90%)	0.70%	(0.20%)
Withholding taxes, Rate	(39.20%)	38.20%	(16.20%)
Income tax at different rates in foreign and other provincial jurisdictions, Rate	39.60%	(30.50%)	(2.00%)
Investment and other tax credits (non-refundable), Rate	7.70%	(3.80%)	0.50%
Changes to deferred tax assets and liabilities resulting from audit and other tax return adjustments, Rate	23.30%	48.60%	(0.90%)
Other non-deductible/non-taxable items, Rate	(4.90%)	5.40%	(3.00%)
Income tax expense	(103.60%)	187.20%	(20.50%)

Income Taxes - Deferred Tax Assets and Deferred Tax Liability (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Deferred Tax Assets, Net [Abstract]
Net operating loss carryforwards	$ 29,158	$ 21,219
Investment tax credit and other tax credit carryforwards	5,213	3,919
Write-downs of other assets	2,341	1,223
Excess of tax accounting basis in various assets	14,549	13,929
Accrued pension liability	5,375	6,901
Accrued share-based compensation	8,920	7,728
Income recognition on net investment in leases	(3,344)	(3,368)
Other accrued reserves	10,552	8,369
Total deferred income tax assets	72,764	59,920
Valuation allowance	(62,864)	(46,014)
Deferred income tax asset net of valuation allowance	9,900	13,906
Deferred tax liability	(14,900)	(17,642)
Net deferred tax liability	$ (5,000)	$ (3,736)

Income Taxes - Additional Information (Details) - USD ($)
$ in Thousands

3 Months Ended

12 Months Ended

Dec. 31, 2022

Dec. 31, 2021

Dec. 31, 2022

Dec. 31, 2021

Dec. 31, 2020

Income Tax Contingency [Line Items]

Deferred tax liability recognized within Accumulated Other Comprehensive (Loss) Income

$ 1,100

$ 300

$ 1,100

$ 300

Net Operating Loss Carryforwards, Limitations on Use

Investment tax credits and other tax credits, carryforwards

5,500

$ 5,500

Investment tax credits and other tax credit carryforward, expiration period

2042

Deferred tax liability

14,900

17,642

$ 14,900

17,642

Deferred income tax asset after valuation allowance

9,900

13,906

9,900

13,906

Deferred tax asset, valuation allowance

62,864

46,014

62,864

46,014

Deferred income tax asset, valuation allowance change

16,900

17,200

Deferred income tax (benefit) expense

(2,073)

2,996

$ 23,618

Payment of foreign withholding taxes

2,700

2,000

Provision for uncertain tax positions recorded to income tax provision

2,200

2,100

600

Total tax reserves (including interest and penalties)

12,300

13,900

12,300

13,900

Interest and penalty associated with tax reserves

600

1,400

3,300

Payment of income taxes

8,900

13,963

^[1]

18,475

^[1]

4,763

^[1]

Income tax receivable

8,900

$ 8,900

Notice of reassessment received

13,200

Canada Revenue Agency [Member]

Income Tax Contingency [Line Items]

Net operating loss carryforwards, expiration period

2042

Net Operating Loss Carryforwards

129,400

$ 129,400

Payment of income taxes

1,600

Income tax receivable

1,600

$ 1,600

Canada Revenue Agency [Member] | Minimum [Member]

Income Tax Contingency [Line Items]

Open Tax Years by Major Tax Jurisdiction

2016

Canada Revenue Agency [Member] | Maximum [Member]

Income Tax Contingency [Line Items]

Open Tax Years by Major Tax Jurisdiction

2021

Internal Revenue Service (IRS) [Member] | Minimum [Member]

Income Tax Contingency [Line Items]

Open Tax Years by Major Tax Jurisdiction

2017

Internal Revenue Service (IRS) [Member] | Maximum [Member]

Income Tax Contingency [Line Items]

Open Tax Years by Major Tax Jurisdiction

2022

State Administration of Taxation, China [Member]

Income Tax Contingency [Line Items]

Net operating loss carryforwards, expiration period

2027

Net Operating Loss Carryforwards

5,100

$ 5,100

Revenue Commissioners, Ireland [Member]

Income Tax Contingency [Line Items]

Net Operating Loss Carryforwards

8,900

Impact of COVID-19 Pandemic [Member]

Income Tax Contingency [Line Items]

Deferred tax asset, valuation allowance

16,900

17,200

16,900

17,200

China [Member]

Income Tax Contingency [Line Items]

Deferred tax asset, valuation allowance

$ 16,900

17,200

16,900

17,200

Shareholder's Equity [Member]

Income Tax Contingency [Line Items]

Deferred income tax asset, valuation allowance change

2,500

Income Tax Expense [Member]

Income Tax Contingency [Line Items]

Deferred income tax asset, valuation allowance change

16,900

14,700

Foreign Country [Member]

Income Tax Contingency [Line Items]

Deferred income tax (benefit) expense

131

$ 1,268

$ (867)

Payment of income taxes

$ 8,900

Foreign Country [Member] | China [Member]

Income Tax Contingency [Line Items]

Deferred income tax (benefit) expense

$ 27,400

[1]

Income Taxes - Reconciliation of Beginning and Ending Amount of Tax Reserves (excluding interest and penalties) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Reconciliation of beginning and ending amount of tax reserves (excluding interest and penalties)
Balance at beginning of the year	$ 11,939	$ 14,076	$ 14,718
Additions based on tax positions related to the current year	11	37	2,301
Reductions for tax positions of prior years	(94)	(991)
Reductions resulting from lapse of applicable statute of limitations and administrative practices	(2,123)	(1,183)	(2,943)
Balance at the end of the year	$ 9,733	$ 11,939	$ 14,076

Income Taxes - Income Tax (Expense) Benefit Included in the Other Comprehensive Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Unrealized defined benefit plan actuarial (gain) loss	$ (198)	$ (37)	$ 276
Unrealized postretirement benefit plans actuarial (gain) loss	(762)	(35)	92
Amortization of prior service cost	(48)	(48)	(23)
Unrealized change in cash flow hedging instruments	(346)	(123)	(132)
Realized change in cash flow hedging instruments	(156)	446	(158)
Reclassification of unrealized change in ineffective cash flow hedging instruments		83
Income tax effect on comprehensive (loss) income	$ (818)	$ 286	$ 55

- Definition

Amount of tax expense (benefit) allocated to other comprehensive income (loss).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 20
-Section 45
-Paragraph 11
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=123586238&loc=d3e39076-109324

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 830
-SubTopic 30
-Section 45
-Paragraph 17
-URI https://asc.fasb.org/extlink&oid=118261656&loc=d3e32136-110900

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 830
-SubTopic 30
-Section 45
-Paragraph 20
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=118261656&loc=d3e32211-110900

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 20
-Section 45
-Paragraph 2
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=123586238&loc=d3e38679-109324

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 50
-Paragraph 4
-URI https://asc.fasb.org/extlink&oid=124431353&loc=SL124442407-227067

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(23))
-URI https://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(21))
-URI https://asc.fasb.org/extlink&oid=126953954&loc=SL114868664-224227

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 10
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32672-109319

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 830
-SubTopic 30
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=6450520&loc=d3e32583-110901

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 12
-URI https://asc.fasb.org/extlink&oid=126968391&loc=d3e640-108580

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(19))
-URI https://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

+ Details

Goodwill and Other Intangible Assets - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Sep. 22, 2022
Finite-Lived Intangible Assets [Line Items]
Net book value of patents and trademarks disposed of in the year	$ 100	$ 100
Goodwill	52,815	39,027
Intangible assets acquired	11,200
Capitalized other intangible assets, cost	83,783	68,171
Net book value of other intangible assets capitalized	$ 15,500	$ 3,900
Weighted average amortization period for additions to other intangible assets	4 years 8 months 12 days	2 years 3 months 18 days
Costs incurred to renew or extend the term of acquired patents and trademarks	$ 100	$ 100
Internal Use Software, Patents And Trademarks [Member]
Finite-Lived Intangible Assets [Line Items]
Capitalized other intangible assets, cost	5,100	4,100
SSIMWAVE Inc. [Member]
Finite-Lived Intangible Assets [Line Items]
Goodwill	13,800		$ 13,788
Intangible assets acquired	11,200		$ 11,189
IMAX Systems Reporting Unit [Member]
Finite-Lived Intangible Assets [Line Items]
Goodwill	19,100	19,100
Joint Revenue Sharing Arrangements Reporting Unit [Member]
Finite-Lived Intangible Assets [Line Items]
Goodwill	13,500	13,500
IMAX Maintenance Reporting Unit [Member]
Finite-Lived Intangible Assets [Line Items]
Goodwill	$ 6,400	$ 6,400

Goodwill and Other Intangible Assets - Summary of Other Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Other Intangible Assets
Other Intangible Assets, Cost	$ 83,783	$ 68,171
Other Intangible Assets, Accumulated Amortization	51,045	45,091
Other Intangible Assets, Net Book Value	32,738	23,080
Licenses and Intellectual Property [Member]
Other Intangible Assets
Other Intangible Assets, Cost	26,168	26,168
Other Intangible Assets, Accumulated Amortization	15,232	13,642
Other Intangible Assets, Net Book Value	10,936	12,526
Internal Use Software [Member]
Other Intangible Assets
Other Intangible Assets, Cost	32,886	28,571
Other Intangible Assets, Accumulated Amortization	25,232	21,544
Other Intangible Assets, Net Book Value	7,654	7,027
Developed Technology [Member]
Other Intangible Assets
Other Intangible Assets, Cost	5,779
Other Intangible Assets, Accumulated Amortization	225
Other Intangible Assets, Net Book Value	5,554
In Process Research and Development [Member]
Other Intangible Assets
Other Intangible Assets, Cost	3,810
Other Intangible Assets, Net Book Value	3,810
Patents and Trademarks [Member]
Other Intangible Assets
Other Intangible Assets, Cost	13,031	12,834
Other Intangible Assets, Accumulated Amortization	9,771	9,406
Other Intangible Assets, Net Book Value	3,260	3,428
Customer Relationships [Member]
Other Intangible Assets
Other Intangible Assets, Cost	1,340
Other Intangible Assets, Accumulated Amortization	50
Other Intangible Assets, Net Book Value	1,290
Other [Member]
Other Intangible Assets
Other Intangible Assets, Cost	769	598
Other Intangible Assets, Accumulated Amortization	535	499
Other Intangible Assets, Net Book Value	$ 234	$ 99

Goodwill and Other Intangible Assets - Summary of Estimated Amortization Expenses (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Other Intangible Assets Additional Textuals [Abstract]
2023	$ (7,821)
2024	(7,636)
2025	(5,456)
2026	(3,059)
2027	$ (3,099)

Borrowings - Revolving Credit Facility Borrowings, Net (Details) ¥ in Millions	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2021 USD ($)
Wells Fargo Credit Facility [Member]
Bank indebtedness [Line Items]
Borrowings		$ 25,000,000		$ 0
Revolving Credit Facility [Member]
Bank indebtedness [Line Items]
Unamortized debt issuance costs		(1,759,000)		(1,140,000)
Revolving Credit Facility Borrowings, net		36,111,000		2,472,000
Bank of China Facility [Member]
Bank indebtedness [Line Items]
Borrowings	¥ 2.6	400,000	¥ 23.0	3,600,000
Bank of China Facility [Member] \| Revolving Credit Facility [Member]
Bank indebtedness [Line Items]
Borrowings		374,000		$ 3,612,000
HSBC China Facility [Member]
Bank indebtedness [Line Items]
Borrowings	¥ 87.0	$ 12,500,000

- Definition

Amount, excluding unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.

+ References + Details

Borrowings - Additional Information (Details) ¥ in Millions				3 Months Ended	12 Months Ended			48 Months Ended
Borrowings - Additional Information (Details) ¥ in Millions	May 25, 2022 USD ($)	Mar. 19, 2021 USD ($)	May 29, 2019 CAD ($)	Mar. 31, 2022 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 CAD ($)	Dec. 31, 2022 USD ($) $ / shares	Jun. 30, 2022 CNY (¥)	Jun. 30, 2022 USD ($)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2021 USD ($)	Oct. 31, 2019 USD ($)	May 29, 2019 USD ($)
Borrowings (Textual) [Abstract]
Credit facility description					On March 25, 2022, the Company entered into a Sixth Amended and Restated Credit Agreement with Wells Fargo Bank, National Association, as agent (the “Agent”), and a syndicate of lenders party thereto (the “Credit Agreement”), which extended the maturity date of the credit facility under the Credit Agreement (the “Credit Facility”) from June 28, 2023 to March 25, 2027. The Company's obligations under the Credit Agreement are guaranteed by certain of the Company's subsidiaries (the “Guarantors”), and are secured by first-priority security interests in substantially all of the assets of the Company and the Guarantors.
Credit facility maturity date					Mar. 25, 2027
Current borrowing capacity										$ 300,000,000.0
Repayment of outstanding indebtedness					$ 3,600,000	$ 307,609,000
Line of credit facility covenant terms					The Credit Facility requires that the Company maintain a maximum Senior Secured Net Leverage Ratio (as defined in the Credit Agreement) of no greater than 3.25:1.00 on the last day of each Fiscal Quarter.
Letters of guarantee outstanding								¥ 2.8		400,000			¥ 2.8	$ 500,000
Amount borrowed					$ 37,871,000	3,600,000	$ 287,610,000
Proceeds from issuance of convertible notes, net						223,675,000
Debt issuance costs paid					$ 2,279,000	$ 527,000	$ 1,073,000
Foreign Exchange Facility [Member]
Borrowings (Textual) [Abstract]
Unrealized gain (loss) on outstanding foreign currency forward contracts										(600,000)				100,000
Notional Amount of arrangements entered into										24,700,000				26,700,000
Convertible Notes [Member]
Borrowings (Textual) [Abstract]
Borrowings										230,000,000				230,000,000
Debt instrument, principal amount		$ 230,000,000.0								$ 230,000,000.0
Debt instrument, annual interest rate		0.50%						0.50%	0.50%	0.50%
Proceeds from issuance of convertible notes, net		$ 223,700,000
Debt issuance costs paid		$ 1,200,000
Debt instrument, frequency of periodic interest payment					semi-annually
Debt instrument, payment terms					The Convertible Notes are senior unsecured obligations of the Company and bear interest at a rate of 0.500% per annum on the principal of $230.0 million, payable semi-annually in arrears on April 1 and October 1 of each year, beginning on October 1, 2021.
Debt instrument, date of first required payment					Oct. 01, 2021
Debt instrument, maturity date					Apr. 01, 2026
Debt instrument, convertible, terms of conversion feature					Holders of the Convertible Notes have the right to convert their Convertible Notes in certain circumstances and during specified periods. Before January 1, 2026, holders of the Convertible Notes have the right to convert their Convertible Notes only upon the occurrence of certain events. From and after January 1, 2026, holders of the Convertible Notes may convert their Convertible Notes at any time at their election until the close of business on the second scheduled trading day immediately before the maturity date. Upon conversion, the Company will pay or deliver, as applicable, cash or a combination of cash (in an amount no less than the principal amount of the Convertible Notes being converted) and common shares, at its election, based on the applicable conversion rates. The initial conversion rate is 34.7766 common shares per $1,000 principal amount of Convertible Notes, which represents an initial conversion price of approximately $28.75 per common share, and is subject to adjustment upon the occurrence of certain events.
Debt instrument, initial conversion rate per $1,000 principal amount					34.7766
Convertible notes principal amount										$ 1,000
Debt instrument, initial conversion price \| $ / shares										$ 28.75
Debt instrument, redemption, description					The Convertible Notes are redeemable, in whole or in part, at the Company’s option at any time, and from time to time, on or after April 6, 2024 and on or before the 40th scheduled trading day immediately before the maturity date, at a cash redemption price equal to the principal amount of the Convertible Notes to be redeemed, plus accrued and unpaid interest, if any, but only if the last reported sale price per share of the Company’s common stock exceeds 130% of the conversion price for a specified period of time. In addition, calling any Convertible Notes for redemption will constitute a “make-whole fundamental change” with respect to such notes, in which case the conversion rate applicable to the conversion of such notes will be increased in certain circumstances if such notes are converted after they are called for redemption
Debt instrument, redemption start date					Apr. 06, 2024
Convertible Notes [Member] \| Call Option [Member]
Borrowings (Textual) [Abstract]
Cap price of capped call transactions \| $ / shares										37.2750
Percentage of premium of cap price over last reported sale price per common share on March 16, 2021					75.00%
Cost of capped call transactions					$ 19,100,000
Reduction to other equity					$ 19,100,000
Bank of China Facility [Member]
Borrowings (Textual) [Abstract]
Credit facility description					In June 2022, IMAX (Shanghai) Multimedia Technology Co., Ltd. (“IMAX Shanghai”), one of the Company's majority-owned subsidiaries in China, renewed its unsecured revolving facility with Bank of China for up to 200.0 million Chinese Renminbi (“RMB”) ($28.7 million), including RMB 10.0 million ($1.4 million) for letters of guarantee, to fund ongoing working capital requirements (the “Bank of China Facility”).
Current borrowing capacity											¥ 200.0	$ 28,700,000
Borrowings								¥ 2.6		$ 400,000			¥ 23.0	3,600,000
Effective interest rate					4.12%	4.31%
Letters of guarantees borrowing capacity											10.0	1,400,000
Line of credit facility expiration period					2023-09
Remaining borrowing capacity								187.4		26,900,000
HSBC China Facility [Member]
Borrowings (Textual) [Abstract]
Current borrowing capacity											¥ 200.0	$ 28,700,000
Borrowings								87.0		12,500,000
Effective interest rate					3.91%
Remaining borrowing capacity								¥ 113.0		16,200,000
Federal Economic Development Loan Payable [Member]
Borrowings (Textual) [Abstract]
Loans payable										2,812,000
Debt instrument, fair value										1,782,000
Federal Economic Development Loan Payable [Member] \| Interest Expense [Member]
Borrowings (Textual) [Abstract]
Interest accretion expense					$ 100,000
Federal Economic Development Loan Payable [Member] \| SSIMWAVE Inc. [Member]
Borrowings (Textual) [Abstract]
Debt instrument, annual interest rate			0.00%													0.00%
Percentage of contributions cover eligible and supported costs								35.00%
Contributions repayable months			60 months
Debt instrument repayment beginning month and year			2024-01
Loans payable									$ 3,800,000	2,800,000
Letter of Credit \| Bank of China Facility [Member]
Borrowings (Textual) [Abstract]
Remaining borrowing capacity								¥ 7.2		1,000,000.0
NBC Facility [Member]
Borrowings (Textual) [Abstract]
Credit facility maturity date					Jun. 30, 2023
Current borrowing capacity															$ 5,000,000.0
Remaining borrowing capacity										0				0
Wells Fargo Credit Facility [Member]
Borrowings (Textual) [Abstract]
Borrowings										25,000,000				0
Letters of credit or advance payment guarantees										0				$ 0
Line of credit facility covenant terms					The Credit Agreement contains customary affirmative and negative covenants, including covenants that limit indebtedness, liens, asset sales, investments and restricted payments, in each case subject to negotiated exceptions and baskets. The Credit Agreement also contains customary representations, warranties and event of default provisions.The Company incurred fees of approximately $2.5 million in connection with the March 2022 amendment of the Credit Agreement, which are being amortized on a straight-line basis over the term of the Credit Agreement. In the first quarter of 2022, the Company expensed $0.4 million in unamortized deferred financing costs associated with lenders that are no longer parties to the Credit Agreement.
Debt instrument net leverage ratio					0.00
Liquidity covenant minimum	$ 75,000,000.0
Interest rate description					Loans under the Credit Facility bear interest, at the Company's option, at (i) Term SOFR, Eurocurrency Rate or CDOR Rate plus a margin ranging from 1.00% to 1.75% per annum; or (ii) the U.S. base rate or the Canadian prime rate plus a margin ranging from 0.25% to 1.00% per annum, in each case depending on the Company's total leverage ratio. In no event will Term SOFR, Eurocurrency Rate or CDOR Rate be less than 0.00% per annum.
Effective interest rate					5.64%	2.64%
Fees incurred with amendments					$ 2,500,000
Unamortized deferred financing costs expenses				$ 400,000
Remaining borrowing capacity										275,000,000.0
Wells Fargo Credit Facility [Member] \| SOFR, Eurocurrency or CDOR Rate [Member]
Borrowings (Textual) [Abstract]
Interest rate margin percentage					1.75%
Interest rate maximum margin percentage					0.00%
Minimum [Member]
Borrowings (Textual) [Abstract]
Borrowing capacity under uncommitted accordion feature										440,000,000.0
Minimum [Member] \| Convertible Notes [Member]
Borrowings (Textual) [Abstract]
Percentage of last reported sale price per common share against conversion price for specific period of time					130.00%
Minimum [Member] \| Wells Fargo Credit Facility [Member] \| SOFR, Eurocurrency or CDOR Rate [Member]
Borrowings (Textual) [Abstract]
Interest rate margin percentage					1.00%
Minimum [Member] \| Wells Fargo Credit Facility [Member] \| U.S. Base Rate or Canadian Prime Rate [Member]
Borrowings (Textual) [Abstract]
Interest rate margin percentage					0.25%
Maximum [Member] \| Federal Economic Development Loan Payable [Member] \| SSIMWAVE Inc. [Member]
Borrowings (Textual) [Abstract]
Debt instrument, principal amount			$ 4,200,000													$ 3,100,000
Maximum [Member] \| Wells Fargo Credit Facility [Member]
Borrowings (Textual) [Abstract]
Debt instrument net leverage ratio					3.25
Unrestricted cash and cash equivalents held outside of People's Republic of China										$ 75,000,000.0
Maximum [Member] \| Wells Fargo Credit Facility [Member] \| SOFR, Eurocurrency or CDOR Rate [Member]
Borrowings (Textual) [Abstract]
Interest rate margin percentage					1.75%
Maximum [Member] \| Wells Fargo Credit Facility [Member] \| U.S. Base Rate or Canadian Prime Rate [Member]
Borrowings (Textual) [Abstract]
Interest rate margin percentage					1.00%

Borrowings - Summary of Convertible Notes and Other Borrowings, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Bank indebtedness [Line Items]
Revolving Credit Facility Borrowings, net	$ 226,912	$ 223,641
Convertible Notes and Other Borrowings, net	226,912	223,641
Convertible Notes [Member]
Bank indebtedness [Line Items]
Borrowings	230,000	230,000
Unamortized discounts and debt issuance costs	(4,870)	(6,359)
Revolving Credit Facility Borrowings, net	225,130	$ 223,641
Federal Economic Development Loan [Member]
Bank indebtedness [Line Items]
Loans payable	2,812
Unaccreted interest benefit	(1,030)
Debt instrument, fair value, Total	$ 1,782

Commitments - Summary of Company's Contractual Obligations and Commitments (Details)
$ in Thousands

Dec. 31, 2022

USD ($)

Purchase obligations

Purchase obligations, Total

$ 37,884

^[1]

Less Than One Year, Purchase obligations

34,419

^[1]

1 to 3 years, Purchase obligations

3,183

^[1]

3 to 5 years, Purchase obligations

^[1]

Thereafter, Purchase obligations

245

^[1]

Operating lease obligations

Total lease payments

17,419

Less Than One Year, Operating Leases

3,639

Thereafter, Operating Leases

4,171

Finance lease obligations

Total lease payments

1,016

Less Than One Year, Finance lease obligations

508

Total contractual obligations and commitments

Total contractual obligations and commitments, Total

354,419

Less Than One Year, Total contractual obligations and commitments

52,956

1 to 3 years, Total contractual obligations and commitments

13,276

3 to 5 years, Total contractual obligations and commitments

281,514

Thereafter, Total contractual obligations and commitments

6,673

Convertible Notes [Member]

Working Capital Facility

Convertible Notes, Total

234,025

^[2]

Less Than One Year, Working Capital Facility

1,150

^[2]

1 to 3 years, Working Capital Facility

2,300

^[2]

3 to 5 years, Working Capital Facility

230,575

^[2]

Thereafter, Working Capital Facility

^[2]

Wells Fargo Credit Facility [Member]

Total contractual obligations and commitments

Total contractual obligations and commitments, Total

25,000

3 to 5 years, Total contractual obligations and commitments

25,000

HSBC Facility [Member]

Total contractual obligations and commitments

Total contractual obligations and commitments, Total

12,496

Less Than One Year, Total contractual obligations and commitments

12,496

Bank of China Facility [Member]

Total contractual obligations and commitments

Total contractual obligations and commitments, Total

374

Less Than One Year, Total contractual obligations and commitments

374

Federal Economic Development Loan Payable [Member]

Total contractual obligations and commitments

Total contractual obligations and commitments, Total

2,812

^[3]

1 to 3 years, Total contractual obligations and commitments

1,250

^[3]

3 to 5 years, Total contractual obligations and commitments

1,250

^[3]

Thereafter, Total contractual obligations and commitments

312

^[3]

Operating Lease Obligations

Operating lease obligations

Total lease payments

18,013

^[4]

Less Than One Year, Operating Leases

3,905

^[4]

1 to 3 years, Operating Leases

5,825

^[4]

3 to 5 years, Operating Leases

4,137

^[4]

Thereafter, Operating Leases

4,146

^[4]

Finance Lease Obligations [Member]

Finance lease obligations

Total lease payments

1,016

Less Than One Year, Finance lease obligations

508

1 to 3 years, Finance lease obligations

508

Pension Obligations [Member]

Pension and Postretirement benefits obligations

Total expected future benefit payment

20,295

^[5]

Less Than One Year

^[5]

1 to 3 years

^[5]

3 to 5 years

20,295

^[5]

Thereafter

^[5]

Postretirement Benefits Obligations [Member]

Pension and Postretirement benefits obligations

Total expected future benefit payment

2,504

104

210

220

$ 1,970

[1]	Represents total payments to be made under binding commitments with suppliers and outstanding payments to be made for supplies ordered, but yet to be invoiced.
[2]	The Convertible Notes bear interest at a rate of 0.500% per annum on the principal of $230.0 million, payable semi-annually in arrears on April 1 and October 1 of each year, beginning on October 1, 2021. The Convertible Notes will mature on April 1, 2026, unless earlier repurchased, redeemed or converted. (See Note 15(b).)
[3]	The Federal Economic Development Loan will be repayable over 60 months, with repayments estimated to begin in January 2024. (See Note 15(b).)
[4]	Represents total minimum annual rental payments due under the Company’s operating leases. (See Note 7.)
[5]	The Company has an unfunded defined benefit pension plan covering its Chief Executive Officer. (See Note 24.)

Commitments - Summary of Company's Contractual Obligations and Commitments (Parenthetical) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Mar. 19, 2021
Borrowings (Textual) [Abstract]
Credit facility description	On March 25, 2022, the Company entered into a Sixth Amended and Restated Credit Agreement with Wells Fargo Bank, National Association, as agent (the “Agent”), and a syndicate of lenders party thereto (the “Credit Agreement”), which extended the maturity date of the credit facility under the Credit Agreement (the “Credit Facility”) from June 28, 2023 to March 25, 2027. The Company's obligations under the Credit Agreement are guaranteed by certain of the Company's subsidiaries (the “Guarantors”), and are secured by first-priority security interests in substantially all of the assets of the Company and the Guarantors.
Convertible Notes [Member]
Borrowings (Textual) [Abstract]
Debt instrument, annual interest rate	0.50%	0.50%
Debt instrument, principal amount	$ 230,000,000.0	$ 230,000,000.0
Debt instrument, frequency of periodic interest payment	semi-annually
Debt instrument, payment terms	The Convertible Notes are senior unsecured obligations of the Company and bear interest at a rate of 0.500% per annum on the principal of $230.0 million, payable semi-annually in arrears on April 1 and October 1 of each year, beginning on October 1, 2021.
Debt instrument, date of first required payment	Oct. 01, 2021
Debt instrument, maturity date	Apr. 01, 2026

Commitments - Additional Information (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Accrued commission on sale or lease of the theater systems payable in future periods	$ 2.2	$ 1.1

Contingencies and Guarantees - Additional Information (Details) - USD ($)		12 Months Ended			51 Months Ended	95 Months Ended
	Dec. 03, 2020	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Mar. 27, 2008	Dec. 02, 2011	Jun. 30, 2021	Jun. 23, 2021
Contingencies And Guarantees Disclosure Textual [Abstract]
Final Award in favor of company					amount of $11.3 million, consisting of past and future rents owed to the Company, plus interest and costs, as well as an additional $2,512 each day in interest from October 1, 2007 until the date the award is paid	$30,000 to cover the costs of the application
Final Award amount issued					$ 11,300,000
Final Award additional interest					$ 2,512
Final Award settlement cost						$ 30,000
Award inclusive of interest		$ 25,300,000
Damages awarded	$ 11,300,000
Litigation liability related to Final Judgment				$ 11,300,000
Amounts collected in respect of theater systems not delivered				7,200,000
Legal judgment and arbitration awards (income) expense		0	$ (1,770,000)	$ 4,105,000
Litigation liability paid							$ 9,500,000
Litigation settlement expense reversed								$ 1,800,000
Benefit of legal judgement and arbitration awards							$ 1,800,000
Product warranty accrual		0	0
Indemnification of its directors/officers		0	0
Other Indemnification		$ 0	$ 0

Capital Stock - Summary of Settlement of Stock Option and RSU Transactions (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Plan trustee purchases	0	0
Cash proceeds from stock option exercises		$ 883
Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Issued from treasury		41,613
Total stock options exercised		41,613
Restricted Share Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Issued from treasury	596,277	531,629	42,982
Plan trustee purchases		723	386,297
Shares withheld for tax withholdings	203,956	157,546	24,714
Total RSUs vested	800,233	689,898	453,993

Capital Stock - Additional Information (Details) $ / shares in Units, $ / shares in Units, ¥ in Millions, $ in Millions	2 Months Ended	12 Months Ended
	Feb. 21, 2023 USD ($) $ / shares shares	Dec. 31, 2022 HKD ($) $ / shares shares	Dec. 31, 2022 USD ($) $ / shares shares	Dec. 31, 2021 CNY (¥) shares	Dec. 31, 2021 HKD ($) $ / shares shares	Dec. 31, 2021 USD ($) $ / shares shares	Dec. 31, 2020 USD ($) shares	Jul. 28, 2022 shares	Jun. 23, 2022 shares	Jun. 02, 2022 shares	Apr. 28, 2022 shares	Sep. 30, 2021 CNY (¥)	Sep. 30, 2021 USD ($)	May 06, 2021 shares	Dec. 31, 2019 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation costs recorded for the period \| $			$ 27,000,000.0			$ 25,600,000	$ 21,500,000
Stock-based compensation expense \| $			$ 27,013,000			$ 25,614,000	$ 21,493,000
Common stock, shares outstanding			54,148,614			58,653,642
Maximum number of shares of common stock may be issued for outstanding PSU			54,148,614			58,653,642
Common shares purchased in open market by trustee in connection with RSUs		0	0	0	0	0
Antidilutive shares issuable upon exercise of stock options and vesting of restricted share units and performance stock units		4,523,121	4,523,121	6,131,792	6,131,792	6,131,792	6,999,667
Percentage of statutory net profits to statutory surplus reserve to be appropriated			10.00%
Discontinuation of contribution, Aggregate sum of statutory surplus reserve more than its registered capital, percent			50.00%
Statutory surplus reserve appropriated			$ 0									¥ 36.4	$ 5,600,000
Dividends declared and paid				¥ 131.6		$ 20,400,000
Statutory surplus reserve to its subsidiaries registered capital percent												50.00%	50.00%
Subsequent Event [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Repurchase of common shares	109,477
Stock Acquired, Average Cost per Share \| $ / shares	$ 14.87
Repurchase of common shares, value \| $	$ 1,600,000
IMAX China
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Details of the share repurchase program		In 2021, IMAX China’s shareholders granted its Board of Directors a general mandate authorizing the Board, subject to applicable laws, to repurchase shares of IMAX China not to exceed 10% of the total number of issued shares as of May 6, 2021 (34,835,824 shares). This program expired on the date of the 2022 Annual General Meeting of IMAX China on June 23, 2022. During the 2022 Annual General Meeting, shareholders approved the repurchase of shares of IMAX China not to exceed 10% of the total number of issued shares as of June 23, 2022 (34,063,480 shares). This program will be valid until the 2023 Annual General Meeting of IMAX China. The repurchases may be made in the open market or through other means permitted by applicable laws. IMAX China has no obligation to repurchase its shares and the share repurchase program may be suspended or discontinued by IMAX China at any time.	In 2021, IMAX China’s shareholders granted its Board of Directors a general mandate authorizing the Board, subject to applicable laws, to repurchase shares of IMAX China not to exceed 10% of the total number of issued shares as of May 6, 2021 (34,835,824 shares). This program expired on the date of the 2022 Annual General Meeting of IMAX China on June 23, 2022. During the 2022 Annual General Meeting, shareholders approved the repurchase of shares of IMAX China not to exceed 10% of the total number of issued shares as of June 23, 2022 (34,063,480 shares). This program will be valid until the 2023 Annual General Meeting of IMAX China. The repurchases may be made in the open market or through other means permitted by applicable laws. IMAX China has no obligation to repurchase its shares and the share repurchase program may be suspended or discontinued by IMAX China at any time.
Stock Repurchase Program Expiration Date		Jun. 23, 2022	Jun. 23, 2022	May 06, 2021	May 06, 2021	May 06, 2021
Repurchase of common shares		2,961,800	2,961,800	6,664,700	6,664,700	6,664,700
Stock Acquired, Average Cost per Share \| (per share)		$ 8.00	$ 1.02		$ 11.68	$ 1.50
Repurchase of common shares, value		$ 23.7	$ 3,000,000.0		$ 77.8	$ 10,000,000.0
Stock Repurchase Program, maximum percentage of shares to be repurchased									10.00%					10.00%
Stock Repurchase Program, Authorized number of shares									34,063,480					34,835,824
Parent [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Details of the share repurchase program		On April 28, 2022 and July 28, 2022, the Company’s Board of Directors approved a 12-month extension to its share repurchase program through June 30, 2023 and an increase of $200.0 million in the share repurchase program, respectively. With the increase of $200.0 million, the Company's total share repurchase authority is $400.0 million under the current share repurchase program. As of December 31, 2022, the Company has $193.4 million available under its approved repurchase program. The repurchases may be made either in the open market or through private transactions, including repurchases made pursuant a plan intended to comply with Rule 10b5-1 under the Securities Exchange Act of 1934, as amended, subject to market conditions, applicable legal requirements, and other relevant factors. The Company has no obligation to repurchase shares and the share repurchase program may be suspended or discontinued by the Company at any time.	On April 28, 2022 and July 28, 2022, the Company’s Board of Directors approved a 12-month extension to its share repurchase program through June 30, 2023 and an increase of $200.0 million in the share repurchase program, respectively. With the increase of $200.0 million, the Company's total share repurchase authority is $400.0 million under the current share repurchase program. As of December 31, 2022, the Company has $193.4 million available under its approved repurchase program. The repurchases may be made either in the open market or through private transactions, including repurchases made pursuant a plan intended to comply with Rule 10b5-1 under the Securities Exchange Act of 1934, as amended, subject to market conditions, applicable legal requirements, and other relevant factors. The Company has no obligation to repurchase shares and the share repurchase program may be suspended or discontinued by the Company at any time.
Stock Repurchase Program, Authorized Amount \| $			$ 193,400,000
Stock Repurchase Program Expiration Date		Jun. 30, 2023	Jun. 30, 2023
Repurchase of common shares		5,401,852	5,401,852	841,331	841,331	841,331
Stock Acquired, Average Cost per Share \| $ / shares			$ 15.19			$ 16.51
Repurchase of common shares, value \| $			$ 82,000,000.0			$ 13,900,000
Stock Repurchase Program, Authorized number of shares								200,000,000.0			200,000,000.0
Statutory surplus reserve appropriated \| $													$ 3,900,000
Non-controlling Interests [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Repurchase of common shares, value \| $			$ 2,458,000			$ 5,797,000	$ 858,000
Statutory surplus reserve appropriated \| $													$ 1,700,000
Settlement Occurred [Member] \| Parent [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Repurchase of common shares		140,000	140,000	0	0	0
Stock Acquired, Average Cost per Share \| $ / shares			$ 14.45
Repurchase of common shares, value \| $			$ 2,000,000.0
Maximum [Member] \| Parent [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Repurchase Program, Authorized Amount \| $			$ 400,000,000.0
Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Reserved common shares for future issuance			5,788,499			5,807,445
Options outstanding			3,604,739			3,736,157	4,892,962								5,732,209
Options common shares were vested and exercisable			3,523,335			3,488,107
Income tax benefit from stock based compensation \| $			$ 100,000			$ 100,000	$ 100,000
Options fully vested and unvested, weighted average exercise price \| $ / shares			$ 26.36
Options fully vested and unvested, weighted average remaining contractual life		3 years 3 months 18 days	3 years 3 months 18 days
Intrinsic value of options exercised \| $						0.1
Stock-based compensation expense \| $			$ 572,000			$ 1,064,000	$ 1,847,000
Antidilutive shares issuable upon exercise of stock options and vesting of restricted share units and performance stock units		3,604,739	3,604,739	3,736,157	3,736,157	3,736,157	4,892,962
Employee Stock Option [Member] \| Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based awards vesting period		4 years	4 years
Stock based awards expiration period or remaining contractual life		10 years	10 years
Performance Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares outstanding			931,716			613,405	361,844
Stock based awards vesting period		3 years	3 years
RSU awards, granted to non-employees		359,138	359,138	309,574	309,574	309,574	370,265
Stock-based compensation expense \| $			$ 8,306,000			$ 5,322,000	$ 2,563,000
Unrecognized share based compensation expense \| $			$ 10,800,000
Weighted average term expense expected recognized		1 year 9 months 18 days	1 year 9 months 18 days
Antidilutive shares issuable upon exercise of stock options and vesting of restricted share units and performance stock units		281,262	281,262	937,752	937,752	937,752	541,867
Performance Stock Units [Member] \| Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, award vesting rights, percentage		175.00%	175.00%
Performance Stock Units [Member] \| Maximum [Member] \| EBITDA
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum number of shares of common stock may be issued for outstanding PSU			1,630,503
Performance Stock Units [Member] \| Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, award vesting rights, percentage		0.00%	0.00%
Restricted Share Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares outstanding			1,252,044			1,457,883	1,564,838								1,065,347
Restricted Stock Unit Economic Equivalent		1	1
Tax expense (benefits) realized \| $			$ 900,000			$ (600,000)	$ (300,000)
Accrued liabilities \| $			$ 800,000			$ 2,600,000
RSU that may vest on a shorter period			343,058							885,000
RSU awards, granted to non-employees		708,313	708,313	831,123	831,123	831,123	1,050,385
Stock-based compensation expense \| $			$ 15,498,000			$ 15,555,000	$ 13,761,000
Common shares purchased in open market by trustee in connection with RSUs				723	723	723	386,297
Antidilutive shares issuable upon exercise of stock options and vesting of restricted share units and performance stock units		637,120	637,120	1,457,883	1,457,883	1,457,883	1,564,838
Restricted Share Units [Member] \| Certain Advisor [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
RSU awards, granted to non-employees		0	0	0	0	0	0
Stock-based compensation expense \| $			$ 0				$ 100,000
Restricted Share Units [Member] \| Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based awards vesting period		3 years	3 years
Percentage of common shares authorized		5.00%	5.00%
Restricted Share Units [Member] \| Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based awards vesting period		1 year	1 year
IMAX China Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense \| $			$ 100,000			$ 100,000	$ 700,000
Vested stock options contractual life		1 year	1 year

Capital Stock - Share-Based Compensation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Share-based compensation expense	$ 27,013	$ 25,614	$ 21,493
Cost and Expenses Applicable to Revenues [Member]
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Share-based compensation expense	1,156	1,490	691
Selling, General and Administrative Expenses [Member]
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Share-based compensation expense	25,438	23,776	20,652
Research and Development [Member]
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Share-based compensation expense	$ 419	$ 348	$ 150

Capital Stock - Expenses Related to Stock Option Grants Issued to Employees and Directors (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 27,013	$ 25,614	$ 21,493
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 572	$ 1,064	$ 1,847

Capital Stock - Total Share-Based Compensation Expense Related to Non-Vested Employee Stock Options not yet Recognized (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expense related to non-vested employee stock options	$ 86	$ 662	$ 2,029

Capital Stock - Weighted Average Period over Which Awards Expected to be Recognized (Details)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average period (in years)	2 months 12 days	1 year 1 month 6 days	1 year 9 months 18 days

Capital Stock - Schedule of Share-based Compensation, Stock Options, Activity (Details) - Employee Stock Option [Member] - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options outstanding, beginning of year	3,736,157	4,892,962	5,732,209
Exercised		(41,613)
Forfeited	(796)	(88,934)	(34,678)
Expired	(126,569)	(903,038)	(786,086)
Cancelled	(4,053)	(123,220)	(18,483)
Stock options outstanding, end of year	3,604,739	3,736,157	4,892,962
Stock options exercisable, end of year	3,523,335	3,488,107	4,311,761
Stock options outstanding, weighted average exercise price per share, beginning of year	$ 26.61	$ 26.81	$ 26.82
Exercised, weighted average exercise price per share		21.23
Forfeited, weighted average exercise price per share	22.49	22.49	22.49
Expired, weighted average exercise price per share	33.61	28.31	27.07
Cancelled, weighted average exercise price per share	27.92	26.68	27.97
Stock options outstanding, weighted average exercise price per share, end of year	26.36	26.61	26.81
Stock options exercisable, weighted average exercise price per share, end of year	$ 26.45	$ 26.93	$ 27.30

Capital Stock - Expenses Related to RSU Grants Issued to Employees and Directors in Plan (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 27,013	$ 25,614	$ 21,493
Restricted Share Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 15,498	$ 15,555	$ 13,761

Capital Stock - Total Share-Based Compensation Expense Related to Non-Vested RSUs not Yet Recognized and Weighted Average Period (Details) - Restricted Share Units [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expense related to non-vested RSUs not yet recognized	$ 17,457	$ 15,913	$ 17,343
Weighted average period awards are expected to be recognized (in years)	1 year 6 months	1 year 7 months 6 days	1 year 10 months 24 days

Capital Stock - Restricted Stock Units Activity under the IMAX LTIP (Details) - Restricted Share Units [Member] - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of awards outstanding, beginning of year	1,457,883	1,564,838	1,065,347
Granted	708,313	831,123	1,050,385
Vested and settled	(800,231)	(689,872)	(453,993)
Forfeited	(113,921)	(248,206)	(96,901)
Number of awards outstanding, end of year	1,252,044	1,457,883	1,564,838
Weighted average grant date fair value per share, beginning of year	$ 19.16	$ 18.33	$ 23.17
Granted, weighted average grant date fair value per share	19.31	21.03	15.35
Vested and settled, weighted average grant date fair value per share	19.10	19.46	22.71
Forfeited, weighted average grant date fair value per share	20.39	19.38	18.81
Weighted average grant date fair value per share, end of year	$ 19.16	$ 19.16	$ 18.33

Capital Stock - Summary of Number of RSUs Issued From Carve-Out Balance (Details) - Restricted Share Units [Member] - shares	7 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
RSU carve out, balance beginning of period	885,000
RSUs issued from carve-out	(59,030)	(482,912)
RSU carve out, balance end of period	343,058

Capital Stock - Expenses Related to PSUs Grants Issued to Employees and Directors in Plan (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 27,013	$ 25,614	$ 21,493
Performance Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 8,306	$ 5,322	$ 2,563

Capital Stock - Performance Stock Units Activity under the IMAX LTIP (Details) - Performance Stock Units [Member] - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of awards outstanding, beginning of year	613,405	361,844
Granted	359,138	309,574	370,265
Forfeited	(40,827)	(58,013)	(8,421)
Number of awards outstanding, end of year	931,716	613,405	361,844
Weighted average grant date fair value per share, beginning of year	$ 18.21	$ 15.68
Granted, weighted average grant date fair value per share	20.34	20.77	$ 15.66
Forfeited, weighted average grant date fair value per share	19.90	16.11	4.84
Weighted average grant date fair value per share, end of year	$ 18.96	$ 18.21	$ 15.68

Capital Stock - Summary of Expense Related to Award Type (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expense	$ 27,000	$ 25,600	$ 21,500
China Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expense	91	285	875
China RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expense	2,284	2,810	2,093
China PSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expense	262	578	208
China Options, RSUs and PSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expense	$ 2,637	$ 3,673	$ 3,176

Capital Stock - Summary of Share Repurchases (Details)	12 Months Ended
Capital Stock - Summary of Share Repurchases (Details)	Dec. 31, 2022 $ / shares shares	Dec. 31, 2022 $ / shares shares	Dec. 31, 2021 $ / shares shares	Dec. 31, 2021 $ / shares shares
IMAX China
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total Number of Shares Repurchased	2,961,800	2,961,800	6,664,700	6,664,700
Average Price Paid Per Share \| (per share)	$ 8.00	$ 1.02	$ 11.68	$ 1.50
Parent [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total Number of Shares Repurchased	5,401,852	5,401,852	841,331	841,331
Average Price Paid Per Share \| $ / shares		$ 15.19		$ 16.51

Capital Stock - Basic and Diluted Weighted Average Share Computations (Details) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Equity [Abstract]
Issued and outstanding, beginning of period	58,654	58,921	61,176
Weighted average number of shares (repurchased) issued , net	(1,980)	205	(1,939)
Weighted average number of shares outstanding - basic	56,674	59,126	59,237
Weighted average number of shares outstanding - diluted	56,674	59,126	59,237

Consolidated Statements of Operations Supplemental Information - Summary of Selling Expenses, Including Sales Commissions and Marketing and Other Expenses (Details) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2022

Dec. 31, 2021

Dec. 31, 2020

Collaborative Arrangements [Line Items]

Sales Commissions

$ 564

$ 2,284

$ 2,186

Marketing and Other

21,757

11,021

5,893

Technology Sales [Member]

Collaborative Arrangements [Line Items]

Sales Commissions

^[1]

479

1,885

1,278

Marketing and Other

^[1]

810

989

1,077

Image Enhancement and Maintenance Services [Member]

Collaborative Arrangements [Line Items]

Marketing and Other

^[2]

20,284

8,923

4,306

Technology Rentals [Member]

Collaborative Arrangements [Line Items]

Sales Commissions

^[3]

399

908

Marketing and Other

^[3]

$ 663

$ 1,109

$ 510

[1]	Sales commissions paid prior to the recognition of the related revenue are deferred and recognized upon the client acceptance of the IMAX System. Direct advertising and marketing costs for each IMAX System are expensed as incurred.
[2]	Film exploitation costs, including advertising and marketing costs are expensed as incurred.
[3]	Sales commissions related to joint revenue sharing arrangements accounted for operating leases are recognized in the month they are earned by the salesperson, which is typically the month in which the IMAX System is installed. Direct advertising and marketing costs for each IMAX System are expensed as incurred.

Consolidated Statements of Operations Supplemental Information - Additional Information (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($) Film	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2017 Film
Foreign Exchange
Foreign exchange translation gain (loss)	$ (3,200)	$ 1,300	$ 800
Collaborative Arrangements
Average percentage of the box-office receipts of the film for recovering digital re-mastering cost	12.50%
Revenue attributable to transactions arising between the company and its customers under IMAX DMR arrangements	$ 94,900	70,700	28,300
Number of significant co-produced film arrangement \| Film	1			1
Number of other co-produced film arrangements \| Film	3
Variable Interest Entity, Consolidated, Carrying Amount, Total Assets	$ 821,154	883,247
Variable Interest Entity, Consolidated, Carrying Amount, Total Liabilities	491,386	452,875
Amounts attributable to transactions between the company and other parties involved in the production of films included in costs and expenses	800	400	2,000
Co-produced television collaborative arrangement revenue	300	200	300
Co-produced television collaborative arrangement costs and expenses		0	0
Variable Interest Entity, Primary Beneficiary [Member]
Collaborative Arrangements
Variable Interest Entity, Consolidated, Carrying Amount, Total Assets	1,523	1,576
Variable Interest Entity, Consolidated, Carrying Amount, Total Liabilities	248	259
Retrospective adoption of ASC Topic 606, Revenue from Contracts with Customers [Member]
Collaborative Arrangements
Revenues attributable to transactions arising between the company and its customers under joint revenue sharing arrangements	$ 66,600	$ 51,600	$ 19,900

Consolidated Statements of Cash Flows Supplemental Information - Summary of Changes in Other Operating Assets and Liabilities (Details) - USD ($)
$ in Thousands

3 Months Ended

12 Months Ended

Dec. 31, 2021

Dec. 31, 2022

Dec. 31, 2021

Dec. 31, 2020

Decrease (Increase) in:

Financing receivables

$ 5,411

$ (7,637)

$ (10,568)

Prepaid expenses

(1,892)

(3,230)

(979)

Variable consideration receivables

667

(2,905)

(2,361)

Other assets

968

1,003

(4,747)

Increase (Decrease) in:

Accounts payable

8,496

(4,752)

414

Accrued and other liabilities

(12,849)

15,167

(6,399)

Changes in other non-cash operating assets and liabilities

801

(2,354)

(24,640)

Cash payments made on account of:

Income taxes

$ 8,900

13,963

^[1]

18,475

^[1]

4,763

^[1]

Interest

$ 715

$ 3,251

$ 5,773

[1]

Consolidated Statements of Cash Flows Supplemental Information - Summary of Changes in Other Operating Assets and Liabilities (Parentheticals) (Details) - USD ($)
$ in Thousands

3 Months Ended

12 Months Ended

Dec. 31, 2021

Dec. 31, 2022

^[1]

Dec. 31, 2021

^[1]

Dec. 31, 2020

^[1]

Supplemental Cash Flow Elements [Line Items]

Payment of income taxes

$ 8,900

$ 13,963

$ 18,475

$ 4,763

Accounts Receivable Net Of Allowance For Credit Losses

Supplemental Cash Flow Elements [Line Items]

Payment of income taxes

8,900

Interest

1,600

Foreign Country [Member]

Supplemental Cash Flow Elements [Line Items]

Payment of income taxes

8,900

Interest

$ 1,600

[1]

Consolidated Statements of Cash Flows Supplemental Information - Summary of Depreciation and Amortization (Details) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2022

Dec. 31, 2021

Dec. 31, 2020

Summary of Depreciation and amortization

Film assets

$ 16,881

$ 16,316

$ 8,838

Property, plant and equipment:

Equipment supporting joint revenue sharing arrangements

22,165

22,320

24,930

Other property, plant and equipment

^[1]

9,757

9,479

11,225

Other intangible assets

^[2]

6,103

6,079

6,565

Other assets

^[3]

1,755

1,888

1,146

Depreciation and amortization

$ 56,661

$ 56,082

$ 52,704

[1]	Includes the amortization of laser projection systems, camera, and lens upgrades recorded in Research and Development on the Statements of Operations of $0.6 million in the year ended December 31, 2022 (2021 — $0.8 million; 2020 — $0.9 million).
[2]	Includes the amortization of licenses and intellectual property recorded in Research and Development on the Consolidated Statements of Operations of $1.3 million in the year ended December 31, 2022 (2021 — $1.3 million; 2020 — $1.3 million).
[3]	Includes the amortization of lessee incentives provided by the Company to its customers under joint revenue sharing arrangements.

Consolidated Statements of Cash Flows Supplemental Information - Summary of Depreciation and Amortization (Parenthetical) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Supplemental Cash Flow Elements [Abstract]
Amortization of property, plant and equipment net in research and development	$ 0.6	$ 0.8	$ 0.9
Amortization of intangible assets net in research and development	$ 1.3	$ 1.3	$ 1.3

Consolidated Statements of Cash Flows Supplemental Information - Write-downs, Net of Recoveries (Details)
$ in Thousands, ¥ in Millions

12 Months Ended

Dec. 31, 2022

CNY (¥)

Dec. 31, 2022

USD ($)

Dec. 31, 2021

USD ($)

Dec. 31, 2020

USD ($)

Write-downs

Other assets

¥ 30.0

$ 4,500

$ 0

$ 1,151

^[1]

Inventories

^[2]

741

890

3,632

Equipment supporting joint revenue sharing arrangements

^[3]

973

364

1,784

Other property, plant and equipment

217

174

Other intangible assets

142

184

Film assets

^[4]

848

151

10,804

Write-downs

$ 7,176

$ 1,764

$ 17,729

[1]	In 2022, the Company recognized a full impairment of its RMB 30.0 million ($4.5 million) investment in the film Mozart from Space based on projected box office results and distribution costs. (See Note 23(e).) In 2020, the Company recorded a write-down of $1.2 million in Asset Impairments related to content-related assets which became impaired in the year. No such write-downs including asset impairments were incurred in 2021.
[2]	In 2022, the Company recorded write-downs of $0.9 million, net of a recovery of $0.2 million in Costs and Expenses Applicable to Technology Sales. The write-downs recorded during the year ended December 31, 2022 include $0.4 million related to excess and damaged inventory and $0.3 million recorded to reduce the carrying value of service parts held in Russia. For the years ended December 31, 2021 and 2020, the Company recorded write-downs of $0.9 million and $3.6 million, respectively, in Costs and Expenses Applicable to Technology Sales to reduce the carrying value of excess inventory.
[3]	In 2022, the Company recorded charges of $1.0 million (2021 — $0.4 million; 2020 — $1.8 million) in Costs and Expenses Applicable to Technology Rentals mostly related to the write-downs of leased xenon-based digital systems which were taken out of service in connection with exhibitor customer upgrades to laser-based digital systems, as well as an IMAX System that was removed from its existing location.
[4]	In 2022, the Company recorded impairment losses of $0.8 million (2021 — $0.2 million) related to the write-down of DMR and documentary film assets. In 2020, the Company recorded impairment losses of $10.8 million principally to write-down the carrying value of certain documentary, alternative content film assets and DMR related film assets due to a decrease in projected box office totals and related revenues based on management’s regular quarterly recoverability assessments.

Consolidated Statements of Cash Flows Supplemental Information - Write-downs, Net of Recoveries (Parenthetical) (Details)
$ in Thousands, ¥ in Millions

12 Months Ended

Dec. 31, 2022

CNY (¥)

Dec. 31, 2022

USD ($)

Dec. 31, 2021

USD ($)

Dec. 31, 2020

USD ($)

Supplemental Cash Flow Elements [Line Items]

Other assets write downs on impairment

¥ 30.0

$ 4,500

$ 0

$ 1,151

^[1]

Theater system components written off in Costs and expenses

1,000

400

1,800

Write-downs for excess and obsolete inventory

^[2]

741

890

3,632

Film assets write downs on impairment loss

800

$ 200

$ 10,800

Technology Sales [Member]

Supplemental Cash Flow Elements [Line Items]

Write-downs for excess and obsolete inventory

900

Write-downs net of a recovery

200

Excess and damaged inventory

Supplemental Cash Flow Elements [Line Items]

Write-downs for excess and obsolete inventory

400

Carrying value of service parts | Russia

Supplemental Cash Flow Elements [Line Items]

Write-downs for excess and obsolete inventory

$ 300

[1]

[2]

Consolidated Statements of Cash Flows Supplemental Information - Significant Non-cash Investing Activities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Net increase (decrease) in accruals related to:
Investment in equipment supporting joint revenue sharing arrangements	$ 790	$ 1,009	$ (1,888)
Acquisition of other intangible assets	30	(891)	792
Purchases of property, plant and equipment	311	(188)	158
Net accruals	$ 1,131	$ (70)	$ (938)

Condensed Consolidated Statements of Cash Flows Supplemental Information (Parenthetical) (Details) $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($)
Additional Cash Flow Elements and Supplemental Cash Flow Information [Abstract]
Liability related to repurchase of common shares expense recognized not settled	$ 2.0

Revenue from Contracts with Customers - Disaggregation of Revenue by Segment (Details) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2022

Dec. 31, 2021

Dec. 31, 2020

Disaggregation of Revenue [Line Items]

Revenues

^[1]

$ 300,805

$ 254,883

$ 137,003

Fixed Consideration [Member]

Disaggregation of Revenue [Line Items]

Revenues

115,628

101,919

66,369

Variable Consideration [Member]

Disaggregation of Revenue [Line Items]

Revenues

106,626

78,584

36,350

Lease Arrangements [Member]

Disaggregation of Revenue [Line Items]

Revenues

70,069

63,588

24,168

Finance Income [Member]

Disaggregation of Revenue [Line Items]

Revenues

8,482

10,792

10,116

Technology Sales [Member]

Disaggregation of Revenue [Line Items]

Revenues

69,158

66,153

49,728

Technology Sales [Member] | Fixed Consideration [Member]

Disaggregation of Revenue [Line Items]

Revenues

53,505

43,738

37,492

Technology Sales [Member] | Variable Consideration [Member]

Disaggregation of Revenue [Line Items]

Revenues

7,370

5,617

5,909

Technology Sales [Member] | Joint Revenue Sharing Arrangements, Fixed Fees [Member]

Disaggregation of Revenue [Line Items]

Revenues

4,804

5,406

2,056

Technology Sales [Member] | Joint Revenue Sharing Arrangements, Fixed Fees [Member] | Fixed Consideration [Member]

Disaggregation of Revenue [Line Items]

Revenues

Technology Sales [Member] | Joint Revenue Sharing Arrangements, Fixed Fees [Member] | Variable Consideration [Member]

Disaggregation of Revenue [Line Items]

Revenues

Technology Sales [Member] | Other Theater Business [Member]

Disaggregation of Revenue [Line Items]

Revenues

6,255

2,363

1,666

Technology Sales [Member] | Other Theater Business [Member] | Fixed Consideration [Member]

Disaggregation of Revenue [Line Items]

Revenues

6,255

2,363

1,666

Technology Sales [Member] | Other Theater Business [Member] | Variable Consideration [Member]

Disaggregation of Revenue [Line Items]

Revenues

Technology Sales [Member] | Other [Member]

Disaggregation of Revenue [Line Items]

Revenues

3,648

3,516

2,067

Technology Sales [Member] | Other [Member] | Fixed Consideration [Member]

Disaggregation of Revenue [Line Items]

Revenues

3,546

3,475

1,957

Technology Sales [Member] | Other [Member] | Variable Consideration [Member]

Disaggregation of Revenue [Line Items]

Revenues

102

110

Technology Sales [Member] | IMAX Systems [Member]

Disaggregation of Revenue [Line Items]

Revenues

^[2]

54,451

54,868

43,939

Technology Sales [Member] | IMAX Systems [Member] | Fixed Consideration [Member]

Disaggregation of Revenue [Line Items]

Revenues

^[2]

43,704

37,900

33,869

Technology Sales [Member] | IMAX Systems [Member] | Variable Consideration [Member]

Disaggregation of Revenue [Line Items]

Revenues

^[2]

7,268

5,576

5,799

Technology Sales [Member] | Lease Arrangements [Member]

Disaggregation of Revenue [Line Items]

Revenues

8,283

16,798

6,327

Technology Sales [Member] | Lease Arrangements [Member] | Joint Revenue Sharing Arrangements, Fixed Fees [Member]

Disaggregation of Revenue [Line Items]

Revenues

4,804

5,406

2,056

Technology Sales [Member] | Lease Arrangements [Member] | Other Theater Business [Member]

Disaggregation of Revenue [Line Items]

Revenues

Technology Sales [Member] | Lease Arrangements [Member] | Other [Member]

Disaggregation of Revenue [Line Items]

Revenues

Technology Sales [Member] | Lease Arrangements [Member] | IMAX Systems [Member]

Disaggregation of Revenue [Line Items]

Revenues

^[2]

3,479

11,392

4,271

Technology Sales [Member] | Finance Income [Member]

Disaggregation of Revenue [Line Items]

Revenues

Technology Sales [Member] | Finance Income [Member] | Joint Revenue Sharing Arrangements, Fixed Fees [Member]

Disaggregation of Revenue [Line Items]

Revenues

Technology Sales [Member] | Finance Income [Member] | Other Theater Business [Member]

Disaggregation of Revenue [Line Items]

Revenues

Technology Sales [Member] | Finance Income [Member] | Other [Member]

Disaggregation of Revenue [Line Items]

Revenues

Technology Sales [Member] | Finance Income [Member] | IMAX Systems [Member]

Disaggregation of Revenue [Line Items]

Revenues

^[2]

Image Enhancement and Maintenance Services [Member]

Disaggregation of Revenue [Line Items]

Revenues

161,379

131,148

59,318

Image Enhancement and Maintenance Services [Member] | Fixed Consideration [Member]

Disaggregation of Revenue [Line Items]

Revenues

62,123

58,181

28,877

Image Enhancement and Maintenance Services [Member] | Variable Consideration [Member]

Disaggregation of Revenue [Line Items]

Revenues

99,256

72,967

30,441

Image Enhancement and Maintenance Services [Member] | Other [Member]

Disaggregation of Revenue [Line Items]

Revenues

2,969

1,426

Image Enhancement and Maintenance Services [Member] | Other [Member] | Fixed Consideration [Member]

Disaggregation of Revenue [Line Items]

Revenues

1,178

377

Image Enhancement and Maintenance Services [Member] | Other [Member] | Variable Consideration [Member]

Disaggregation of Revenue [Line Items]

Revenues

1,791

1,049

Image Enhancement and Maintenance Services [Member] | IMAX DMR [Member]

Disaggregation of Revenue [Line Items]

Revenues

94,867

70,659

28,265

Image Enhancement and Maintenance Services [Member] | IMAX DMR [Member] | Fixed Consideration [Member]

Disaggregation of Revenue [Line Items]

Revenues

Image Enhancement and Maintenance Services [Member] | IMAX DMR [Member] | Variable Consideration [Member]

Disaggregation of Revenue [Line Items]

Revenues

94,867

70,659

28,265

Image Enhancement and Maintenance Services [Member] | Film Post-Production [Member]

Disaggregation of Revenue [Line Items]

Revenues

3,783

4,260

3,878

Image Enhancement and Maintenance Services [Member] | Film Post-Production [Member] | Fixed Consideration [Member]

Disaggregation of Revenue [Line Items]

Revenues

3,783

4,260

3,878

Image Enhancement and Maintenance Services [Member] | Film Post-Production [Member] | Variable Consideration [Member]

Disaggregation of Revenue [Line Items]

Revenues

Image Enhancement and Maintenance Services [Member] | Film Distribution [Member]

Disaggregation of Revenue [Line Items]

Revenues

3,152

1,464

4,841

Image Enhancement and Maintenance Services [Member] | Film Distribution [Member] | Fixed Consideration [Member]

Disaggregation of Revenue [Line Items]

Revenues

554

205

3,000

Image Enhancement and Maintenance Services [Member] | Film Distribution [Member] | Variable Consideration [Member]

Disaggregation of Revenue [Line Items]

Revenues

2,598

1,259

1,841

Image Enhancement and Maintenance Services [Member] | IMAX Maintenance Segment [Member]

Disaggregation of Revenue [Line Items]

Revenues

56,608

53,339

21,999

Image Enhancement and Maintenance Services [Member] | IMAX Maintenance Segment [Member] | Fixed Consideration [Member]

Disaggregation of Revenue [Line Items]

Revenues

56,608

53,339

21,999

Image Enhancement and Maintenance Services [Member] | IMAX Maintenance Segment [Member] | Variable Consideration [Member]

Disaggregation of Revenue [Line Items]

Revenues

Image Enhancement and Maintenance Services [Member] | Lease Arrangements [Member]

Disaggregation of Revenue [Line Items]

Revenues

Image Enhancement and Maintenance Services [Member] | Lease Arrangements [Member] | Other [Member]

Disaggregation of Revenue [Line Items]

Revenues

Image Enhancement and Maintenance Services [Member] | Lease Arrangements [Member] | IMAX DMR [Member]

Disaggregation of Revenue [Line Items]

Revenues

Image Enhancement and Maintenance Services [Member] | Lease Arrangements [Member] | Film Post-Production [Member]

Disaggregation of Revenue [Line Items]

Revenues

Image Enhancement and Maintenance Services [Member] | Lease Arrangements [Member] | Film Distribution [Member]

Disaggregation of Revenue [Line Items]

Revenues

Image Enhancement and Maintenance Services [Member] | Lease Arrangements [Member] | IMAX Maintenance Segment [Member]

Disaggregation of Revenue [Line Items]

Revenues

Image Enhancement and Maintenance Services [Member] | Finance Income [Member]

Disaggregation of Revenue [Line Items]

Revenues

Image Enhancement and Maintenance Services [Member] | Finance Income [Member] | Other [Member]

Disaggregation of Revenue [Line Items]

Revenues

Image Enhancement and Maintenance Services [Member] | Finance Income [Member] | IMAX DMR [Member]

Disaggregation of Revenue [Line Items]

Revenues

Image Enhancement and Maintenance Services [Member] | Finance Income [Member] | Film Post-Production [Member]

Disaggregation of Revenue [Line Items]

Revenues

Image Enhancement and Maintenance Services [Member] | Finance Income [Member] | Film Distribution [Member]

Disaggregation of Revenue [Line Items]

Revenues

Image Enhancement and Maintenance Services [Member] | Finance Income [Member] | IMAX Maintenance Segment [Member]

Disaggregation of Revenue [Line Items]

Revenues

Technology Rentals [Member]

Disaggregation of Revenue [Line Items]

Revenues

61,786

46,790

17,841

Technology Rentals [Member] | Fixed Consideration [Member]

Disaggregation of Revenue [Line Items]

Revenues

Technology Rentals [Member] | Variable Consideration [Member]

Disaggregation of Revenue [Line Items]

Revenues

Technology Rentals [Member] | Other [Member]

Disaggregation of Revenue [Line Items]

Revenues

606

335

Technology Rentals [Member] | Other [Member] | Fixed Consideration [Member]

Disaggregation of Revenue [Line Items]

Revenues

Technology Rentals [Member] | Other [Member] | Variable Consideration [Member]

Disaggregation of Revenue [Line Items]

Revenues

335

Technology Rentals [Member] | Joint Revenue Sharing Arrangements, Contingent Rent [Member]

Disaggregation of Revenue [Line Items]

Revenues

61,768

46,184

17,841

Technology Rentals [Member] | Joint Revenue Sharing Arrangements, Contingent Rent [Member] | Fixed Consideration [Member]

Disaggregation of Revenue [Line Items]

Revenues

Technology Rentals [Member] | Joint Revenue Sharing Arrangements, Contingent Rent [Member] | Variable Consideration [Member]

Disaggregation of Revenue [Line Items]

Revenues

Technology Rentals [Member] | Lease Arrangements [Member]

Disaggregation of Revenue [Line Items]

Revenues

61,786

46,790

17,841

Technology Rentals [Member] | Lease Arrangements [Member] | Other [Member]

Disaggregation of Revenue [Line Items]

Revenues

606

Technology Rentals [Member] | Lease Arrangements [Member] | Joint Revenue Sharing Arrangements, Contingent Rent [Member]

Disaggregation of Revenue [Line Items]

Revenues

61,768

46,184

17,841

Technology Rentals [Member] | Finance Income [Member]

Disaggregation of Revenue [Line Items]

Revenues

Technology Rentals [Member] | Finance Income [Member] | Other [Member]

Disaggregation of Revenue [Line Items]

Revenues

Technology Rentals [Member] | Finance Income [Member] | Joint Revenue Sharing Arrangements, Contingent Rent [Member]

Disaggregation of Revenue [Line Items]

Revenues

Finance Income Segment [Member] | IMAX Systems [Member]

Disaggregation of Revenue [Line Items]

Revenues

8,482

10,792

10,116

Finance Income Segment [Member] | IMAX Systems [Member] | Fixed Consideration [Member]

Disaggregation of Revenue [Line Items]

Revenues

Finance Income Segment [Member] | IMAX Systems [Member] | Variable Consideration [Member]

Disaggregation of Revenue [Line Items]

Revenues

Finance Income Segment [Member] | Lease Arrangements [Member] | IMAX Systems [Member]

Disaggregation of Revenue [Line Items]

Revenues

Finance Income Segment [Member] | Finance Income [Member] | IMAX Systems [Member]

Disaggregation of Revenue [Line Items]

Revenues

$ 8,482

$ 10,792

$ 10,116

[1]	The Company’s largest customer represents 12% of total Revenues as of December 31, 2022 (2021 ― 10%; 2020 ― 16%). No single customer comprises more than 10% of the Company’s total Accounts Receivable as of December 31, 2022 and 2021.
[2]	Includes revenues earned from sale and sales-type lease arrangements involving new and upgraded IMAX Systems, as well as the impact of renewals and amendments to existing system arrangements.

Revenue from Contracts with Customers - Additional Information (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Maintenance Services [Member]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue Remaining Performance Obligation	$ 21.0	$ 20.2	$ 21.6

Segment Reporting - Additional Information (Details) - Segment	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Segment Reporting (Textual) [Abstract]
Description of products and services from which each reportable segment derives its revenues		The Company has the following reportable segments: (i) IMAX DMR; (ii) Joint Revenue Sharing Arrangements (“JRSA”); (iii) IMAX Systems; (iv) IMAX Maintenance; (v) Other Theater Business; (vi) Film Distribution; and (vii) Film Post-Production. The Company's activities that do not meet the criteria to be considered a reportable segment are disclosed within All Other. The Company organizes its reportable segments into the following three categories, identified by the nature of the product sold or service provided
Disclosure on geographic areas, description of revenue from external customers		No single country in the Rest of the World, Western Europe, Latin America, and Asia (excluding Greater China) classifications comprise more than 10% of total revenue.
Forecast [Member]
Segment Reporting (Textual) [Abstract]
Number of reportable segments	2

Segment Reporting - Segment Reporting Information by Category and Reportable Segment (Details) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2022

Dec. 31, 2021

Dec. 31, 2020

Revenues

Revenue

^[1]

$ 300,805

$ 254,883

$ 137,003

Gross Margin (Margin Loss)

Gross Margin (Margin Loss)

156,355

134,406

21,540

Assets

Assets

821,154

883,247

Amortization

Amortization

56,661

56,082

52,704

Write-downs, including asset impairments and credit loss expense

Write-downs, including asset impairments and credit loss expense

15,723

(2,187)

36,337

Purchase of property, plant and equipment

Purchases of fixed assets

28,227

13,684

7,351

IMAX DMR [Member]

Revenues

Revenue

^[1]

94,867

70,659

28,265

Gross Margin (Margin Loss)

Gross Margin (Margin Loss)

57,964

44,782

13,731

Assets

Assets

48,755

48,299

Amortization

Amortization

16,367

15,917

10,269

Write-downs, including asset impairments and credit loss expense

Write-downs, including asset impairments and credit loss expense

151

1,057

JRSA, Contingent Rent [Member]

Revenues

Revenue

^[1]

61,768

46,184

17,841

Gross Margin (Margin Loss)

Gross Margin (Margin Loss)

37,394

21,761

(9,500)

Assets

Assets

193,403

196,789

Amortization

Amortization

23,920

24,208

26,076

Write-downs, including asset impairments and credit loss expense

Write-downs, including asset impairments and credit loss expense

973

364

1,784

Purchase of property, plant and equipment

Purchases of fixed assets

19,803

10,094

6,654

IMAX Technology Network [Member]

Revenues

Revenue

^[1]

156,635

116,843

46,106

Gross Margin (Margin Loss)

Gross Margin (Margin Loss)

95,358

66,543

4,231

IMAX Systems [Member]

Revenues

Revenue

^[1],[2]

62,933

65,660

54,055

Gross Margin (Margin Loss)

Gross Margin (Margin Loss)

^[2]

35,129

34,981

24,816

Assets

Assets

255,458

249,672

Amortization

Amortization

169

2,076

3,548

Write-downs, including asset impairments and credit loss expense

Write-downs, including asset impairments and credit loss expense

150

837

2,872

Purchase of property, plant and equipment

Purchases of fixed assets

2,574

621

IMAX Maintenance Reporting Unit [Member]

Revenues

Revenue

^[1]

56,608

53,339

21,999

Gross Margin (Margin Loss)

Gross Margin (Margin Loss)

27,109

27,572

3,068

Assets

Assets

48,764

38,530

Amortization

Amortization

213

Write-downs, including asset impairments and credit loss expense

Write-downs, including asset impairments and credit loss expense

591

510

Purchase of property, plant and equipment

Purchases of fixed assets

JRSA, Fixed Fees [Member]

Revenues

Revenue

^[1]

4,804

5,406

2,056

Gross Margin (Margin Loss)

Gross Margin (Margin Loss)

589

1,343

529

Assets

Assets

26,574

27,930

Other Theater Business [Member]

Revenues

Revenue

^[3]

6,255

2,363

1,666

Gross Margin (Margin Loss)

Gross Margin (Margin Loss)

^[3]

807

398

(438)

Assets

Assets

110

IMAX Technology Sales and Maintenance [Member]

Revenues

Revenue

^[1]

130,600

126,768

79,776

Gross Margin (Margin Loss)

Gross Margin (Margin Loss)

63,634

64,294

27,975

Post-Production [Member]

Revenues

Revenue

^[1]

3,783

4,260

3,878

Gross Margin (Margin Loss)

Gross Margin (Margin Loss)

1,540

1,969

(358)

Assets

Assets

32,406

31,575

Amortization

Amortization

924

1,281

Purchase of property, plant and equipment

Purchases of fixed assets

1,195

609

456

Film Distribution [Member]

Revenues

Revenue

^[4]

3,152

1,464

4,841

Gross Margin (Margin Loss)

Gross Margin (Margin Loss)

^[4]

(7,668)

(1,121)

(9,840)

Assets

Assets

11,545

7,185

Amortization

Amortization

2,423

600

1,213

Write-downs, including asset impairments and credit loss expense

Write-downs, including asset impairments and credit loss expense

^[4]

819

9,997

Purchase of property, plant and equipment

Purchases of fixed assets

4,126

1,599

Sub-total for Reportable Segments

Revenues

Revenue

^[1]

294,170

249,335

134,601

Gross Margin (Margin Loss)

Gross Margin (Margin Loss)

152,864

131,685

22,008

Assets

Assets

617,015

600,062

Amortization

Amortization

42,879

43,725

42,600

Write-downs, including asset impairments and credit loss expense

Write-downs, including asset impairments and credit loss expense

2,562

1,405

16,220

Purchase of property, plant and equipment

Purchases of fixed assets

27,702

12,948

7,160

Reportable Segments [Member]

Revenues

Revenue

^[1]

6,935

5,724

8,719

Gross Margin (Margin Loss)

Gross Margin (Margin Loss)

(6,128)

848

(10,198)

Other [Member]

Revenues

Revenue

^[1],[5]

6,635

5,548

2,402

Gross Margin (Margin Loss)

Gross Margin (Margin Loss)

^[5]

3,491

2,721

(468)

Assets

Assets

^[5]

29,686

1,420

Amortization

Amortization

^[5]

309

Write-downs, including asset impairments and credit loss expense

Write-downs, including asset impairments and credit loss expense

^[5]

Purchase of property, plant and equipment

Purchases of fixed assets

^[5]

Corporate and other non-segment specific assets [Member]

Assets

Assets

174,453

281,765

Amortization

Amortization

13,473

12,357

10,093

Write-downs, including asset impairments and credit loss expense

Write-downs, including asset impairments and credit loss expense

^[5],[6]

13,161

(3,592)

20,065

Purchase of property, plant and equipment

Purchases of fixed assets

$ 516

$ 736

$ 191

[1]	The Company’s largest customer represents 12% of total Revenues as of December 31, 2022 (2021 ― 10%; 2020 ― 16%). No single customer comprises more than 10% of the Company’s total Accounts Receivable as of December 31, 2022 and 2021.
[2]	The revenue from this segment includes the initial upfront payments and the present value of fixed minimum payments from sale and sales-type lease arrangements of IMAX Systems, as well as the present value of estimated variable consideration from sales of IMAX Systems. To a lesser extent, the revenue from this segment also includes finance income associated with these revenue streams.
[3]	The revenue from this segment principally includes after-market sales of IMAX projection system parts and 3D glasses.For the year ended December 31, 2022, the Company recorded an impairment loss of $0.8 million related to the write-down of documentary film assets. During the year ended December 31, 2020, Film Distribution segment results were significantly influenced by impairment losses of $10.0 million, to write-down the carrying value of certain documentary and alternative content film assets due to a decrease in projected box office totals and related revenues based on management’s regular quarterly recoverability assessments.
[4]	For the year ended December 31, 2022, the Company recorded an impairment loss of $0.8 million related to the write-down of documentary film assets.
[5]	All Other includes the results from IMAX Enhanced, SSIMWAVE, and other ancillary activities. In the first quarter of 2022, the Company's internal reporting was updated to reclassify the results of IMAX Enhanced out of the New Business Initiatives segment into All Other for segment reporting purposes. Prior period comparatives have been revised to conform with the current period presentation. (See Note 5 for additional information related to the Company's acquisition of SSIMWAVE.
[6]	During the year ended December 31, 2022, includes provision of current expected credit losses of $8.5 million (2021 ― net reversal of $4.0 million; 2020 ― provision of $18.6 million). (See Note 6.)

Segment Reporting - Segment Reporting Information by Category and Reportable Segment (Parenthetical) (Details)
$ in Thousands, ¥ in Millions

3 Months Ended

12 Months Ended

Jun. 30, 2022

CNY (¥)

Jun. 30, 2022

USD ($)

Dec. 31, 2022

CNY (¥)

Dec. 31, 2022

USD ($)

Dec. 31, 2021

USD ($)

Dec. 31, 2020

USD ($)

Segment Reporting Information [Line Items]

Percentage of total revenues represented by largest customer

12.00%

10.00%

16.00%

Segment Reporting (Textual) [Abstract]

Impairment loss

$ 0

Film assets write downs on impairment loss

$ 800

200

$ 10,800

Amortization of deferred financing costs

3,177

2,513

902

Other assets write downs on impairment

¥ 30.0

4,500

1,151

^[1]

Wanda Film (Horgos) Co. Ltd [Member]

Segment Reporting (Textual) [Abstract]

Investment in film impairment

¥ 30.0

$ 4,500

Distribution [Member]

Segment Reporting (Textual) [Abstract]

Impairment loss

10,000

Corporate and other non-segment specific assets [Member]

Segment Reporting (Textual) [Abstract]

Write-downs, included in current expected credit loss expense

$ 8,500

$ 4,000

$ 18,600

[1]

Segment Reporting - Geographic Information (Details) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2022

Dec. 31, 2021

Dec. 31, 2020

Revenues From External Customers And Long Lived Assets [Line Items]

Revenue

^[1]

$ 300,805

$ 254,883

$ 137,003

United States [Member]

Revenues From External Customers And Long Lived Assets [Line Items]

Revenue

107,734

73,499

30,157

Greater China [Member]

Revenues From External Customers And Long Lived Assets [Line Items]

Revenue

73,330

112,801

52,331

Asia (excluding Greater China) [Member]

Revenues From External Customers And Long Lived Assets [Line Items]

Revenue

47,145

23,682

20,090

Western Europe [Member]

Revenues From External Customers And Long Lived Assets [Line Items]

Revenue

40,245

20,942

13,683

Latin America [Member]

Revenues From External Customers And Long Lived Assets [Line Items]

Revenue

9,418

3,601

6,114

Canada [Member]

Revenues From External Customers And Long Lived Assets [Line Items]

Revenue

7,550

3,266

1,365

Russia/the CIS & Ukraine [Member]

Revenues From External Customers And Long Lived Assets [Line Items]

Revenue

^[2]

2,849

7,308

2,927

Rest of the World [Member]

Revenues From External Customers And Long Lived Assets [Line Items]

Revenue

$ 12,534

$ 9,784

$ 10,336

[1]	The Company’s largest customer represents 12% of total Revenues as of December 31, 2022 (2021 ― 10%; 2020 ― 16%). No single customer comprises more than 10% of the Company’s total Accounts Receivable as of December 31, 2022 and 2021.
[2]	In addition to Russia, the CIS includes Azerbaijan, Belarus, Kazakhstan, and Kyrgyzstan. Commencing in March 2022, in response to the ongoing conflict between Russia and Ukraine and resulting sanctions, the Company suspended its operations in Russia and Belarus. As of December 31, 2022, the IMAX network includes 54 systems in Russia, eight systems in Ukraine, and one system in Belarus.

Segment Reporting - Geographic Information (Parenthetical) (Details)	Dec. 31, 2022 System
RU
Revenues from External Customers and Long-Lived Assets [Line Items]
Number of Systems	54
UA
Revenues from External Customers and Long-Lived Assets [Line Items]
Number of Systems	8
BY
Revenues from External Customers and Long-Lived Assets [Line Items]
Number of Systems	1

Segment Reporting - Schedule of Property Plant and Equipment By Geographic Areas (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Revenues From External Customers And Long Lived Assets [Line Items]
Property, plant and equipment	$ 252,896	$ 260,353
United States [Member]
Revenues From External Customers And Long Lived Assets [Line Items]
Property, plant and equipment	94,505	91,856
Greater China [Member]
Revenues From External Customers And Long Lived Assets [Line Items]
Property, plant and equipment	86,665	100,182
Canada [Member]
Revenues From External Customers And Long Lived Assets [Line Items]
Property, plant and equipment	36,385	32,643
Western Europe [Member]
Revenues From External Customers And Long Lived Assets [Line Items]
Property, plant and equipment	20,132	21,684
Asia (excluding Greater China) [Member]
Revenues From External Customers And Long Lived Assets [Line Items]
Property, plant and equipment	10,471	9,463
Rest of the World [Member]
Revenues From External Customers And Long Lived Assets [Line Items]
Property, plant and equipment	$ 4,738	$ 4,525

Financial Instruments - Additional Information (Details) $ in Thousands, ¥ in Millions	1 Months Ended	3 Months Ended		12 Months Ended
	Feb. 28, 2021 USD ($) shares	Jun. 30, 2022 CNY (¥)	Jun. 30, 2022 USD ($)	Dec. 31, 2022 USD ($) Country	Jan. 10, 2022 CNY (¥)	Jan. 10, 2022 USD ($)	Dec. 31, 2021 USD ($)
Financial Instruments (Textual) [Abstract]
Cash and cash equivalents				$ 97,401			$ 189,711
Cash held outside of Canada				$ 79,700			102,100
Number of countries that generate box office \| Country				87
Foreign Exchange contract settlement date range				settlement dates throughout 2023
Estimated gains to be reclassified to earnings within the next twelve months				$ 600
Investment in equity securities				1,035			1,087
Investment in equity securities - cost				$ 15,200
Equity securities restrictions				lock-up period of six months
Wanda Film (Horgos) Co. Ltd [Member]
Financial Instruments (Textual) [Abstract]
Investments in film					¥ 30.0	$ 4,700
Investment in film impairment		¥ 30.0	$ 4,500
Fixed Income Securities [Member]
Financial Instruments (Textual) [Abstract]
Equity Investment, Debt Securities				$ 1,000			1,000
Preferred Stock [Member] \| Other Assets [Member]
Financial Instruments (Textual) [Abstract]
Investment in equity securities				$ 1,000			1,000
Maoyan [Member]
Financial Instruments (Textual) [Abstract]
Number of shares sold \| shares	7,949,000
Gross proceeds from sale of investment	$ 17,800
Realized gain on fair value of investment	$ 5,200
Maximum [Member]
Financial Instruments (Textual) [Abstract]
Equity securities percentage ownership				1.00%
China [Member]
Financial Instruments (Textual) [Abstract]
Cash held/undistributed earnings				$ 43,700			$ 76,300

Financial Instruments - Fair Value of Financial Instruments (Details) - USD ($)
$ in Thousands

Dec. 31, 2022

Dec. 31, 2021

Other Financial Instrument

Cash and cash equivalents

$ 97,401

$ 189,711

Net investment in sales-type leases

28,332

28,392

Credit Facility borrowings

(36,111)

(2,472)

Carrying Amount, Fair Value Disclosure [Member] | Fair Value, Inputs, Level 1 [Member]

Other Financial Instrument

Cash and cash equivalents

^[1]

97,401

189,711

Equity securities

^[2]

1,035

1,087

Carrying Amount, Fair Value Disclosure [Member] | Fair Value, Inputs, Level 2

Other Financial Instrument

Net financed sales receivables

^[3]

101,052

112,657

Net investment in sales-type leases

^[3]

28,332

28,392

Equity securities

^[1]

1,000

COLI

^[4]

3,398

3,275

Convertible Notes

^[5]

(230,000)

Carrying Amount, Fair Value Disclosure [Member] | Fair Value, Inputs, Level 2 | HSBC China Facility [Member]

Other Financial Instrument

Credit Facility borrowings

^[1]

(12,496)

Carrying Amount, Fair Value Disclosure [Member] | Fair Value, Inputs, Level 2 | Bank of China Facility [Member]

Other Financial Instrument

Credit Facility borrowings

^[1]

(374)

(3,612)

Carrying Amount, Fair Value Disclosure [Member] | Fair Value, Inputs, Level 2 | Federal Economic Development Loan [Member]

Other Financial Instrument

Credit Facility borrowings

^[3]

(1,782)

Carrying Amount, Fair Value Disclosure [Member] | Fair Value, Inputs, Level 2 | Wells Fargo Credit Facility [Member]

Other Financial Instrument

Credit Facility borrowings

^[1]

(25,000)

Carrying Amount, Fair Value Disclosure [Member] | Designated as Hedging Instrument [Member] | Fair Value, Inputs, Level 2

Other Financial Instrument

Foreign exchange contracts forwards

^[2]

(649)

Estimate of Fair Value, Fair Value Disclosure [Member] | Fair Value, Inputs, Level 1 [Member]

Other Financial Instrument

Cash and cash equivalents

^[1]

97,401

189,711

Equity securities

^[2]

1,035

1,087

Estimate of Fair Value, Fair Value Disclosure [Member] | Fair Value, Inputs, Level 2

Other Financial Instrument

Net financed sales receivables

^[3]

100,059

112,662

Net investment in sales-type leases

^[3]

27,972

28,407

Equity securities

^[1]

1,000

COLI

^[4]

3,398

3,275

Convertible Notes

^[5]

(196,717)

(223,100)

Estimate of Fair Value, Fair Value Disclosure [Member] | Fair Value, Inputs, Level 2 | HSBC China Facility [Member]

Other Financial Instrument

Credit Facility borrowings

^[1]

(12,496)

Estimate of Fair Value, Fair Value Disclosure [Member] | Fair Value, Inputs, Level 2 | Bank of China Facility [Member]

Other Financial Instrument

Credit Facility borrowings

^[1]

(374)

(3,612)

Estimate of Fair Value, Fair Value Disclosure [Member] | Fair Value, Inputs, Level 2 | Federal Economic Development Loan [Member]

Other Financial Instrument

Credit Facility borrowings

^[3]

(1,782)

Estimate of Fair Value, Fair Value Disclosure [Member] | Fair Value, Inputs, Level 2 | Wells Fargo Credit Facility [Member]

Other Financial Instrument

Credit Facility borrowings

^[1]

(25,000)

Estimate of Fair Value, Fair Value Disclosure [Member] | Designated as Hedging Instrument [Member] | Fair Value, Inputs, Level 2

Other Financial Instrument

Foreign exchange contracts forwards

^[2]

$ (649)

$ 79

[1]	Recorded at cost, which approximates fair value.
[2]	Fair value is determined using quoted prices in active markets.
[3]	Fair value is estimated based on discounting future cash flows at currently available interest rates with comparable terms.
[4]	Measured at cash surrender value, which approximates fair value.
[5]	Fair value is determined using quoted market prices that are observable in the market or that could be derived from observable market data.

Financial Instruments - Notional Amount of Derivative (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Foreign Exchange Contract [Member] \| Designated as Hedging Instrument [Member]
Derivatives Fair Value [Line Items]
Foreign exchange contracts — Forwards	$ 24,707	$ 26,702

Financial Instruments - Fair Value of Foreign Exchange Contracts (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Derivatives Fair Value [Line Items]
Foreign currency derivatives	$ 50	$ 184
Not Designated as Hedging Instrument [Member]
Derivatives Fair Value [Line Items]
Derivative Liability, Fair Value	(649)	79
Other Assets [Member] \| Designated as Hedging Instrument [Member]
Derivatives Fair Value [Line Items]
Foreign currency derivatives	50	184
Accrued and other liabilities [Member] \| Designated as Hedging Instrument [Member]
Derivatives Fair Value [Line Items]
Derivative Liability, Fair Value	$ (699)	$ (105)

Financial Instruments - Derivatives in Foreign Currency Hedging Relationships (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Derivative Instruments Gain Loss [Line Items]
Derivative (Loss) Gain Recognized in OCI (Effective Portion)	$ (1,323,000)	$ 468,000	$ 500,000
Derivative (Loss) Gain Reclassified from AOCI (Effective Portion) included in Selling, general and administrative expenses	(596,000)	1,707,000	(578,000)
Realized net loss (gain) from cash flow hedging instruments	(596,000)	1,707,000	(604,000)
Derivative Gain (Loss) Recognized In and Out of OCI (Effective Portion)	0	0	17,000
Fair Value Hedging [Member]
Derivative Instruments Gain Loss [Line Items]
Derivative (Loss) Gain Recognized in OCI (Effective Portion)	(1,323,000)	468,000	550,000
Inventories [Member]
Derivative Instruments Gain Loss [Line Items]
Realized net loss (gain) from cash flow hedging instruments	$ 0	$ 0	$ (26,000)

Financial Instruments - Non Designated Derivatives in Foreign Currency Relationships (Details) - Not Designated as Hedging Instrument [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Derivative Instruments Gain Loss [Line Items]
Derivative Gain Reclassified From AOCI (Ineffective portion)		$ (318)
Foreign Exchange Contracts - Forwards [Member]
Derivative Instruments Gain Loss [Line Items]
Location of Derivative Gain	$ 0	$ 398	$ 344
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Selling, General and Administrative Expense	Selling, General and Administrative Expense	Selling, General and Administrative Expense

Employee's Pension and Postretirement Benefits - Additional Information (Details) - USD ($) $ in Thousands		12 Months Ended
	Sep. 19, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Deferred Compensation Plan [Member]
Pension and Other Postretirement Benefit Expense (Textual) [Abstract]
Deferred compensation plan description		The Company maintained a nonqualified deferred compensation benefit plan (the “Retirement Plan”) covering the former CEO of IMAX Entertainment and Senior Executive Vice President of the Company. Under the terms of the Retirement Plan, the benefits were due to vest in full if the executive incurred a separation from service from the Company (as defined therein).
Deferred Compensation Plan [Member] \| Accrued and Other Liabilities [Member]
Pension and Other Postretirement Benefit Expense (Textual) [Abstract]
Benefit obligation recorded		$ 3,900	$ 3,800
Deferred Compensation Plan [Member] \| Prepaid Expenses [Member]
Pension and Other Postretirement Benefit Expense (Textual) [Abstract]
Company-owned life insurance		$ 3,400	3,300
SERP Benefits [Member]
Pension and Other Postretirement Benefit Expense (Textual) [Abstract]
Defined benefit pension plan		The Company has an unfunded defined benefit pension plan, the Supplemental Executive Retirement Plan (the “SERP”), covering its CEO, Richard L. Gelfond.
Companies contribution and expenses		$ 0
Expected interest costs in the remainder of the year		800
Expected interest costs		$ 160	72	$ 379
Defined Contribution Plan [Member]
Pension and Other Postretirement Benefit Expense (Textual) [Abstract]
Defined contribution plans for employees		The Company also maintains defined contribution plans for its employees, including its executive officers. The Company makes contributions to these plans on behalf of employees in an amount up to 5% of their base salary subject to certain prescribed maximums.
Maximum percentage of base salary contributed to Defined Contribution Plan by Company		5.00%
Canadian Plan [Member]
Pension and Other Postretirement Benefit Expense (Textual) [Abstract]
Companies contribution and expenses		$ 1,100	1,100	1,100
Us Internal Revenue Code [Member]
Pension and Other Postretirement Benefit Expense (Textual) [Abstract]
Companies contribution and expenses		700	500	600
Postretirement Benefits Canadian Employees [Member]
Pension and Other Postretirement Benefit Expense (Textual) [Abstract]
Expected interest costs		46	$ 42	$ 47
Postretirement Benefits Canadian Employees [Member] \| Maximum [Member]
Pension and Other Postretirement Benefit Expense (Textual) [Abstract]
Expected interest costs		$ 100
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Interest Cost, Statement of Income or Comprehensive Income [Extensible Enumeration]		Net Periodic Defined Benefits Expense (Reversal of Expense), Excluding Service Cost Component
Richard L. Gelfond [Member]
Pension and Other Postretirement Benefit Expense (Textual) [Abstract]
Benefit payable	$ 20,300

Employee's Pension and Postretirement Benefits - Summary of Amounts Accrued for the SERP (Details) - SERP Benefits [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Amounts Accrued
Obligation, beginning of period	$ 20,056	$ 20,116
Interest cost	160	72	$ 379
Actuarial gain	(2,901)	(132)
Obligation, end of period and unfunded status	$ 17,315	$ 20,056	$ 20,116

Employee's Pension and Postretirement Benefits - Summary of Accumulated Other Comprehensive (Loss) Income and Components of Net Periodic Benefit Cost in Future Periods (Details) - SERP Benefits [Member] - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Components of net periodic benefit cost in future periods
Unrealized actuarial (gain) loss	$ (3,580)	$ (679)	$ (547)
Unamortized prior service cost		184	369
Net periodic benefit costs to be recognized in future periods	$ (3,580)	$ (495)	$ (178)

Employee's Pension and Postretirement Benefits - Summary of Disclosure of Pension Expense (Details) - SERP Benefits [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Net periodic benefit cost
Interest cost	$ 160	$ 72	$ 379
Amortization of prior service cost	$ 184	$ 185	$ 87
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Amortization of Prior Service Cost (Credit), Statement of Income or Comprehensive Income [Extensible Enumeration]	Other Comprehensive Income Defined Benefit Plan Amortization Prior Service Cost Credit Arising During Period Before Tax	Other Comprehensive Income Defined Benefit Plan Amortization Prior Service Cost Credit Arising During Period Before Tax	Other Comprehensive Income Defined Benefit Plan Amortization Prior Service Cost Credit Arising During Period Before Tax
Pension expense	$ 344	$ 257	$ 466

Employee's Pension and Postretirement Benefits - Summary of Assumptions to Determine SERP Obligation and Any Related Costs (Details)	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
SERP Benefits [Member]
Assumptions used to determine obligation and cost status
Discount rate	4.55%	0.80%	0.36%

Employee's Pension and Postretirement Benefits - Summary of Amounts Include within Accrued and Other Liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Postretirement Benefits Executives [Member]
Defined Benefit Plan Disclosure [Line Items]
Obligation, beginning of period	$ 662	$ 710
Interest cost	18	16	$ 20
Benefits paid	(8)	(16)
Actuarial gain	(215)	(48)
Obligation, end of period and unfunded status	457	662	710
Postretirement Benefits Canadian Employees [Member]
Defined Benefit Plan Disclosure [Line Items]
Obligation, beginning of period	1,702	1,862
Interest cost	46	42	47
Benefits paid	(155)	(118)
Actuarial gain	(539)	(92)
Unrealized foreign exchange (gain) loss	(78)	8
Obligation, end of period and unfunded status	$ 976	$ 1,702	$ 1,862

Employee's Pension and Postretirement Benefits - Summary of Components of Pension Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Postretirement Benefits Executives [Member]
Defined Benefit Plan Disclosure [Line Items]
Interest cost	$ 18	$ 16	$ 20
Amortization of actuarial gain			$ (17)
Defined Benefit Plan, Net Periodic Benefit (Cost) Credit, Immediate Recognition of Actuarial Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]			Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss) Arising During Period, before Tax
Pension expense	18	16	$ 3
Postretirement Benefits Canadian Employees [Member]
Defined Benefit Plan Disclosure [Line Items]
Interest cost	46	42	47
Pension expense	$ 46	$ 42	$ 47

Employee's Pension and Postretirement Benefits - Summary of Accumulated Other Comprehensive (Loss) Income and Components of Net Pension Cost in Future Periods (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Postretirement Benefits Executives [Member]
Components of net periodic benefit cost in future periods
Unrealized actuarial (gain) loss	$ (242)	$ (27)	$ 21
Postretirement Benefits Canadian Employees [Member]
Components of net periodic benefit cost in future periods
Unrealized actuarial (gain) loss	$ (354)	$ 185	$ 277

Employee's Pension and Postretirement Benefits - Summary of Weighted Average Assumptions Used to Determine the Benefit Obligation (Details)	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Postretirement Benefits Executives [Member]
Assumptions used to determine obligation and cost status
Discount rate	5.01%	2.71%	2.36%
Postretirement Benefits Canadian Employees [Member]
Assumptions used to determine obligation and cost status
Discount rate	5.00%	2.80%	2.30%

Employee's Pension and Postretirement Benefits - Summary of Weighted Average Assumptions Used to Determine the Net Postretirement Benefit Expense (Details)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Postretirement Benefits Executives [Member]
Assumptions used to determine obligation and cost status
Discount rate used in calculating net periodic benefit cost	2.71%	2.36%	3.13%
Postretirement Benefits Canadian Employees [Member]
Assumptions used to determine obligation and cost status
Discount rate used in calculating net periodic benefit cost	2.80%	2.30%	3.05%

Employee's Pension and Postretirement Benefits - Summary of Benefit Payment are Expected in Next Five Year (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Postretirement Benefits Executives [Member]
Pension and Postretirement benefits obligations
2023	$ 10
2024	10
2025	11
2026	23
2027	24
Thereafter	888
Total expected future benefit payment	966
Postretirement Benefits Canadian Employees [Member]
Pension and Postretirement benefits obligations
2023	94
2024	94
2025	95
2026	87
2027	86
Thereafter	1,082
Total expected future benefit payment	$ 1,538

Government Assistance - Additional Information (Details)		12 Months Ended			48 Months Ended
	May 29, 2019 CAD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2022 CAD ($)	Dec. 31, 2022 USD ($)	May 29, 2019 USD ($)
Impact of COVID-19 Pandemic [Member]
Government Assistance [Line Items]
Proceeds from government subsidies		$ 400,000	$ 3,800,000	$ 7,100,000
Impact of COVID-19 Pandemic [Member] \| Selling, General and Administrative Expenses [Member]
Government Assistance [Line Items]
Proceeds from government subsidies		300,000	2,900,000	6,000,000.0
Impact of COVID-19 Pandemic [Member] \| Costs and Expenses Applicable to Revenues [Member]
Government Assistance [Line Items]
Proceeds from government subsidies		$ 100,000	900,000	1,000,000.0
Impact of COVID-19 Pandemic [Member] \| Research and Development [Member]
Government Assistance [Line Items]
Proceeds from government subsidies			$ 0	$ 100,000
Federal Economic Development Loan Payable [Member]
Government Assistance [Line Items]
Loans payable						$ 2,812,000
Debt instrument, fair value						1,782,000
SSIMWAVE Inc. [Member] \| Federal Economic Development Loan Payable [Member]
Government Assistance [Line Items]
Percentage of contributions cover eligible and supported costs					35.00%
Contributions repayable months	60 months
Debt instrument repayment beginning month and year	2024-01
Debt instrument, annual interest rate	0.00%						0.00%
Loans payable					$ 3,800,000	$ 2,800,000
SSIMWAVE Inc. [Member] \| Maximum [Member] \| Federal Economic Development Loan Payable [Member]
Government Assistance [Line Items]
Debt instrument, principal amount	$ 4,200,000						$ 3,100,000

Non-Controlling Interests - Additional Information (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2014 USD ($) Film
Redeemable Noncontrolling Interest [Line Items]
Non-controlling interests	$ 65,691	$ 73,531
Net income (loss) attributable to non-controlling interests	2,923	12,752	$ (13,711)
Investment in film assets	$ 19,598	$ 14,810	7,665
IMAX China Noncontrolling Interest
Redeemable Noncontrolling Interest [Line Items]
Minority Interest Ownership Percentage By Company	71.73%	71.11%
IMAX China
Redeemable Noncontrolling Interest [Line Items]
Non-controlling interests	$ 65,700	$ 73,500
Net income (loss) attributable to non-controlling interests	3,000	12,800	(8,600)
Other Noncontrolling Interest [Member]
Redeemable Noncontrolling Interest [Line Items]
Net income (loss) attributable to non-controlling interests	$ (36)	$ (1)	$ (5,139)
Non-controlling interest description	The Company’s Original Film Fund was established in 2014 to co-finance a portfolio of 10 original large-format films. The initial investment in the Original Film Fund was committed by a third party in the amount of $25.0 million, with the possibility of contributing additional funds. The Company has contributed $9.0 million to the Original Film Fund since 2014, and has reached its maximum contribution.
Number of expected original films \| Film				10
Investment in film assets	$ 22,300
Other Noncontrolling Interest [Member] \| Third Party [Member]
Redeemable Noncontrolling Interest [Line Items]
Film fund committed capital contribution				$ 25,000
Other Noncontrolling Interest [Member] \| IMAX [Member]
Redeemable Noncontrolling Interest [Line Items]
Film fund contributions paid	$ 9,000

Non-Controlling Interests - Summary of Movement of the Non-controlling Interest in Temporary Equity in Original Film Fund (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Non-controlling Interests
Net loss	$ 2,923	$ 12,752	$ (13,711)
Other Noncontrolling Interest [Member]
Non-controlling Interests
Beginning Balance	758	759	5,908
Return of capital to non-controlling interests			(10)
Net loss	(36)	(1)	(5,139)
Ending Balance	$ 722	$ 758	$ 759

- Definition

Carrying amount, attributable to parent and noncontrolling interests, of an entity's issued and outstanding stock which is not included within permanent equity. Temporary equity is a security with redemption features that are outside the control of the issuer, is not classified as an asset or liability in conformity with GAAP, and is not mandatorily redeemable. Includes any type of security that is redeemable at a fixed or determinable price or on a fixed or determinable date or dates, is redeemable at the option of the holder, or has conditions for redemption which are not solely within the control of the issuer. Includes stock with a put option held by an ESOP and stock redeemable by a holder only in the event of a change in control of the issuer.

+ References + Details