IMAX Corp 2025年季度报告

For the quarterly period endedMarch 31, 2025OR For the transition period from toCommission File Number001-35066 (I.R.S. EmployerIdentification Number) 902 Broadway,Floor 20 registrant was required to submit such files).Yes☒No☐Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller Large accelerated filer☒Accelerated filerNon-accelerated filer☐Smaller reporting company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Management’s Discussion and Analysis of Financial Condition and Results of OperationsQuantitative and Qualitative Disclosures about Market Risk Repayments of other borrowingsRepurchase of common shares Common shares issued - stock options exercised Effects of exchange rate changes on cash Cash and cash equivalents, beginning of period Cash and cash equivalents, end of period$97,069$(See the accompanying notes, which are an integral part of these Condensed Consolidated Financial Statements.)7 (Unaudited)Three Months Ended Adjustments to capital stock: Balance, beginning of period$401,420$Restricted share units vested, net of shares withheld for employee tax obligations11,380Employee stock options exercised, net of shares withheld for employee tax obligations948 Balance, end of period414,041Adjustments to other equity:Balance, beginning of period185,268Amortization of share-based payment expense - restricted share units3,745Amortization of share-based payment expense - performance stock units1,973 Change in statutory surplus reserve, IMAX ChinaBalance, end of period Adjustments to accumulated other comprehensive loss: Other comprehensive income (loss), net of tax606Balance, end of period(15,992)Adjustments to non-controlling interests:Balance, beginning of period78,069Net income attributable to non-controlling interests5,827Other comprehensive income (loss), net of tax121 1. Basis of Presentation IMAX Corporation (together with its subsidiaries, unless the context requires otherwise, the “Company” or “IMAX”), prepares financial statements in accordance with United States Generally Accepted Accounting Principles (“U.S. GAAP”) and pursuant to therules and regulations of the Securities and Exchange Commission (the “SEC”). Certain information and footnote disclosures have been condensed or omitted as permitted by such rules and regulations. In the opinion of the Company’s management, the unaudited CondensedConsolidated Financial Statements reflect all necessary adjustments for a fair statement of interim results. The Condensed Consolidated Balance Sheet at December 31, 2024 was derived from the Company’s audited annual Consolidated Financial Statements in theCompany’s 2024 Annual Report on Form 10-K (the “2024 Form 10-K”), but does not contain all of the footnote disclosures included inthe annual financial statements. The interim results presented in the Company’s Condensed Consolidated Statements of Operations andCondensed Consolidated Statements of Cash Flows are not necessarily indicative of results for a full year. Principles of Consolidation These unaudited Condensed Consolidated Financial Statements include the accounts of IMAX Corporation together with itsconsolidated subsidiaries, except for subsidiaries which have been identified as variable interest entities (“VIEs”) where the Company isnot the primary beneficiary. All intercompany accounts and transactions have been eliminated. The Company has evaluated its variousvariable interests to determine whether they are VIEs as required by U.S. GAAP.The Company has interests intenfilm production companies, which have been identified as VIEs. The Company is the primary 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 receiveexpected residual returns. The Company uses the equity method of accounting for these entities, which continues to not be material to the As of March 31, 2025 and December 31, 2024, total assets and liabilities of the Company’s consolidated VIEs were as follows: Total assets$1,637$Total liabilities$246$Estimates and Assumptions credit losses on accounts receivable, financing receivables, and variable consideration receivables; (iv) provisions for the write-down ofexcess and obsolete inventory; (v) the fair values of the reporting units used in assessing the recoverability of goodwill; (vi) the cash flow assets; and (xiv) reserves related to uncertain tax positions. Issued FASB Accounting Standard Codification Updates Not Yet Adopted In December 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“ASU”) No. 2023-09,“Income Taxes (Topic 740): Improvements to Income Tax Disclosures” (“ASU 2023-09”). The