The Marcus Corporation (MCS) 10-Q 9 Aug 16 2016 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2016	Aug. 05, 2016
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q2
Entity Registrant Name	MARCUS CORP
Entity Central Index Key	62,234
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Trading Symbol	MCS
Entity Common Stock, Shares Outstanding		18,859,703
Class B Common Stock [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		8,699,540

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 8,344	$ 6,672
Restricted cash	6,753	18,019
Accounts and notes receivable, net of reserves of $181 and $259, respectively	19,335	13,366
Deferred income taxes	2,547	2,807
Other current assets	6,846	7,041
Total current assets	43,825	47,905
Property and equipment:
Land and improvements	111,311	104,379
Buildings and improvements	637,666	618,004
Leasehold improvements	78,814	78,855
Furniture, fixtures and equipment	292,807	285,578
Construction in progress	11,176	10,363
Total property and equipment	1,131,774	1,097,179
Less accumulated depreciation and amortization	443,717	426,477
Net property and equipment	688,057	670,702
Other assets:
Investments in joint ventures	6,294	7,455
Goodwill	44,148	44,220
Other	33,706	37,226
Total other assets	84,148	88,901
TOTAL ASSETS	816,030	807,508
Current liabilities:
Accounts payable	25,239	28,737
Income taxes	4,348	3,490
Taxes other than income taxes	16,061	17,303
Accrued compensation	11,754	12,269
Other accrued liabilities	36,710	43,231
Current portion of capital lease obligation	5,361	5,181
Current maturities of long-term debt	36,404	18,292
Total current liabilities	135,877	128,503
Capital lease obligation	12,466	15,192
Long-term debt	202,888	207,376
Deferred income taxes	47,405	46,212
Deferred compensation and other	45,603	44,527
Shareholders’ equity attributable to The Marcus Corporation
Preferred Stock, $1 par; authorized 1,000,000 shares; none issued	0	0
Capital in excess of par	57,662	56,474
Retained earnings	334,141	325,355
Accumulated other comprehensive loss	(5,230)	(5,221)
Stockholders' Equity before Treasury Stock	417,763	407,798
Less cost of Common Stock in treasury (3,699,419 shares at June 30, 2016 and 3,525,657 shares at December 31, 2015)	(47,708)	(44,446)
Total shareholders' equity attributable to The Marcus Corporation	370,055	363,352
Noncontrolling interest	1,736	2,346
Total equity	371,791	365,698
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	816,030	807,508
Common Stock [Member]
Shareholders’ equity attributable to The Marcus Corporation
Common Stock, Value	22,490	22,479
Class B Common Stock [Member]
Shareholders’ equity attributable to The Marcus Corporation
Common Stock, Value	$ 8,700	$ 8,711

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Accounts and notes receivable, reserves	$ 181	$ 259
Preferred Stock, par (in dollars per share)	$ 1	$ 1
Preferred Stock, authorized	1,000,000	1,000,000
Preferred Stock, issued	0	0
Cost of Common Stock in treasury, shares	3,699,419	3,525,657
Common Stock [Member]
Common Stock, par (in dollars per share)	$ 1	$ 1
Common Stock, authorized	50,000,000	50,000,000
Common Stock, issued	22,489,973	22,478,541
Class B Common Stock [Member]
Common Stock, par (in dollars per share)	$ 1	$ 1
Common Stock, authorized	33,000,000	33,000,000
Common Stock, issued	8,699,540	8,710,972
Common Stock, outstanding	8,699,540	8,710,972

Consolidated Statements of Earn

Consolidated Statements of Earnings - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 25, 2015	Jun. 30, 2016	Jun. 25, 2015
Revenues:
Theatre admissions	$ 44,010	$ 46,047	$ 90,924	$ 88,390
Rooms	29,323	29,448	49,375	50,134
Theatre concessions	28,503	29,813	58,384	56,647
Food and beverage	18,248	17,498	32,793	32,668
Other revenues	14,894	14,972	28,946	28,646
Total revenues	134,978	137,778	260,422	256,485
Costs and expenses:
Theatre operations	38,171	39,536	78,469	75,928
Rooms	10,500	11,129	19,801	20,909
Theatre concessions	8,093	8,281	15,829	15,352
Food and beverage	14,538	14,459	27,299	27,835
Advertising and marketing	5,505	5,789	10,493	11,158
Administrative	15,332	14,572	29,936	28,813
Depreciation and amortization	10,360	9,859	20,551	19,589
Rent	2,107	2,154	4,226	4,308
Property taxes	3,995	3,434	8,138	7,480
Other operating expenses	8,116	8,336	16,073	16,959
Impairment charge	0	2,603	0	2,919
Total costs and expenses	116,717	120,152	230,815	231,250
Operating income	18,261	17,626	29,607	25,235
Other income (expense):
Investment income	9	217	17	195
Interest expense	(2,457)	(2,467)	(4,866)	(4,894)
Loss on disposition of property, equipment and other assets	(604)	(495)	(717)	(747)
Equity earnings (losses) from unconsolidated joint ventures, net	130	(25)	109	(123)
Nonoperating Income (Expense), Total	(2,922)	(2,770)	(5,457)	(5,569)
Earnings before income taxes	15,339	14,856	24,150	19,666
Income taxes	5,993	5,942	9,524	7,706
Net earnings	9,346	8,914	14,626	11,960
Net earnings (loss) attributable to noncontrolling interests	10	(103)	(162)	(294)
Net earnings attributable to The Marcus Corporation	$ 9,336	$ 9,017	$ 14,788	$ 12,254
Common Stock [Member]
Net earnings per share - basic:
Common Stock	$ 0.35	$ 0.34	$ 0.55	$ 0.46
Net earnings per share - diluted:
Common Stock	0.34	0.32	0.53	0.44
Dividends per share:
Common Stock	0.113	0.105	0.23	0.2
Class B Common Stock [Member]
Net earnings per share - basic:
Common Stock	0.33	0.31	0.5	0.42
Net earnings per share - diluted:
Common Stock	0.33	0.3	0.5	0.41
Dividends per share:
Common Stock	$ 0.102	$ 0.095	$ 0.2	$ 0.182

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 25, 2015	Jun. 30, 2016	Jun. 25, 2015
Net earnings	$ 9,346	$ 8,914	$ 14,626	$ 11,960
Other comprehensive income (loss), net of tax:
Pension loss arising during the period, net of tax benefit of $0, $0, $570 and $570, respectively	0	(902)	0	(902)
Amortization of the net actuarial loss and prior service credit related to the pension, net of tax effect of $0, $0, $127 and $127, respectively	0	199	0	199
Fair market value adjustment of interest rate swap, net of tax benefit of $18, $95, $23 and $112, respectively	(28)	(33)	(143)	(169)
Reclassification adjustment on interest rate swap included in interest expense, net of tax effect of $12, $25, $19 and $38, respectively	18	29	38	59
Reclassification adjustment related to interest rate swap de-designation, net of tax effect of $63, $63, $0 and $0, respectively	96	0	96	0
Other comprehensive income (loss)	86	(707)	(9)	(813)
Comprehensive income	9,432	8,207	14,617	11,147
Comprehensive income (loss) attributable to noncontrolling interests	10	(103)	(162)	(294)
Comprehensive income attributable to The Marcus Corporation	$ 9,422	$ 8,310	$ 14,779	$ 11,441

Consolidated Statements of Com6

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 25, 2015	Jun. 30, 2016	Jun. 25, 2015
Pension loss arising during the period, tax benefit	$ 0	$ 570	$ 0	$ 570
Amortization of the net actuarial loss and prior service credit related to the pension, tax effect	0	127	0	127
Fair market value adjustment of interest rate swap, tax benefit	18	23	95	112
Reclassification adjustment on interest rate swap included in interest expense, tax effect	12	19	25	38
Reclassification adjustment related to interest rate swap de-designation, tax effect	$ 63	$ 0	$ 63	$ 0

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 25, 2015
OPERATING ACTIVITIES:
Net earnings	$ 14,626	$ 11,960
Adjustments to reconcile net earnings to net cash provided by operating activities:
Losses (earnings) on investments in joint ventures	(109)	123
Distributions from joint ventures	270	46
Loss on disposition of property, equipment and other assets	717	747
Impairment charge	0	2,919
Amortization of favorable lease right	167	167
Depreciation and amortization	20,551	19,589
Amortization of debt issuance fees	150	219
Stock compensation expense	921	788
Deferred income taxes	1,529	2,797
Deferred compensation and other	745	620
Contribution of the Company’s stock to savings and profit-sharing plan	905	888
Changes in operating assets and liabilities:
Accounts and notes receivable	(1,876)	(6,342)
Other current assets	195	(491)
Accounts payable	(2,394)	(3,686)
Income taxes	897	(588)
Taxes other than income taxes	(1,242)	(629)
Accrued compensation	(515)	4,540
Other accrued liabilities	(6,641)	(1,941)
Total adjustments	14,270	19,766
Net cash provided by operating activities	28,896	31,726
INVESTING ACTIVITIES:
Capital expenditures	(41,810)	(45,791)
Proceeds from disposals of property, equipment and other assets	4	43
Decrease in restricted cash	11,266	383
(Increase) decrease in other assets	(372)	1,093
Purchase of interest in joint venture	0	(1,600)
Sale of interest in joint venture	1,000	0
Net cash used in investing activities	(29,912)	(45,872)
FINANCING ACTIVITIES:
Proceeds from borrowings on revolving credit facilities	220,188	112,500
Repayment of borrowings on revolving credit facilities	(155,000)	(101,500)
Principal payments on debt	(51,620)	(4,830)
Debt issuance fees	(491)	0
Equity transactions:
Treasury stock transactions, except for stock options	(5,139)	(914)
Exercise of stock options	1,199	1,834
Dividends paid	(6,001)	(5,338)
Distributions to noncontrolling interest	(448)	(379)
Net cash provided by financing activities	2,688	1,373
Net increase (decrease) in cash and cash equivalents	1,672	(12,773)
Cash and cash equivalents at beginning of period	6,672	18,684
Cash and cash equivalents at end of period	8,344	5,911
Supplemental Information:
Interest paid, net of amounts capitalized	4,918	4,749
Income taxes paid	7,097	4,545
Change in accounts payable for additions to property and equipment	$ (1,104)	$ 4,729

General

General	6 Months Ended
	Jun. 30, 2016
General [Abstract]
General	Accounting Policies 10,486,000 20,677,000 9,872,000 19,602,000 Long-Lived Assets 2,600,000 319,000 Swap Available Pension Accumulated (in thousands) Balance at December 31, 2015 $ 9 $ (11) $ (5,219) $ (5,221) Other comprehensive loss before reclassifications (143) - - (143) Amounts reclassified from accumulated other comprehensive loss (1) 134 - - 134 Net other comprehensive loss (9) - - (9) Balance at June 30, 2016 $ - $ (11) $ (5,219) $ (5,230) Swap Available Pension Accumulated (in thousands) Balance at December 25, 2014 $ 116 $ (11) $ (4,580) $ (4,475) Amortization of the net actuarial loss and prior service credit - - 199 199 Other comprehensive loss before reclassifications (169) - (902) (1,071) Amounts reclassified from accumulated other comprehensive loss (1) 59 - - 59 Net other comprehensive loss (110) - (703) (813) Balance at June 25, 2015 $ 6 $ (11) $ (5,283) $ (5,288) (1) Holders of Common Stock are entitled to cash dividends per share equal to 110 13 Weeks 13 Weeks 26 Weeks 26 Weeks (in thousands, except per share data) Numerator: Net earnings attributable to The Marcus Corporation $ 9,336 $ 9,017 $ 14,788 $ 12,254 Denominator: Denominator for basic EPS 27,498 27,538 27,496 27,491 Effect of dilutive employee stock options 316 328 299 319 Denominator for diluted EPS 27,814 27,866 27,795 27,810 Net earnings per share - basic: Common Stock $ 0.35 $ 0.34 $ 0.55 $ 0.46 Class B Common Stock $ 0.33 $ 0.31 $ 0.50 $ 0.42 Net earnings per share - diluted: Common Stock $ 0.34 $ 0.32 $ 0.53 $ 0.44 Class B Common Stock $ 0.33 $ 0.30 $ 0.50 $ 0.41 Total Noncontrolling (in thousands) Balance at December 31, 2015 $ 363,352 $ 2,346 Net earnings attributable to The Marcus Corporation 14,788 – Net loss attributable to noncontrolling interests – (162) Distributions to noncontrolling interests – (448) Cash dividends (6,001) – Exercise of stock options 1,199 – Treasury stock transactions, except for stock options (4,234) – Share-based compensation 921 – Other 39 – Other comprehensive loss, net of tax (9) – Balance at June 30, 2016 $ 370,055 $ 1,736 Total Noncontrolling (in thousands) Balance at December 25, 2014 $ 340,170 $ 2,727 Net earnings attributable to The Marcus Corporation 12,254 – Net loss attributable to noncontrolling interests – (294) Distributions to noncontrolling interests – (379) Cash dividends (5,338) – Exercise of stock options 1,834 – Treasury stock transactions, except for stock options (26) – Share-based compensation 788 – Other 139 – Other comprehensive loss, net of tax (813) – Balance at June 25, 2015 $ 349,008 $ 2,054 The Company’s assets and liabilities measured at fair value are classified in one of the following categories: Level 1 70,000 Level 2 17,000 16,000 Level 3 13 Weeks 13 Weeks 26 Weeks 26 Weeks (in thousands) Service cost $ 216 $ 182 $ 432 $ 356 Interest cost 352 316 704 627 Net amortization of prior service cost and actuarial loss 91 84 182 166 Net periodic pension cost $ 659 $ 582 $ 1,318 $ 1,149 Revenue From Contracts With Customers In November 2015, the FASB issued ASU No. 2015-17, Balance Sheet Classification of Deferred Taxes In January 2016, the FASB issued ASU No. 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) In March 2016, the FASB issued ASU No. 2016-09, Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting On January 1, 2016, the Company adopted ASU No. 2015-03, Simplifying the Presentation of Debt Issuance Costs (Subtopic 835-30) 404,000 111,000 219,000 On January 1, 2016, the Company adopted ASU No. 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis

Long-Term Debt

Long-Term Debt	6 Months Ended
	Jun. 30, 2016
Debt Disclosure [Abstract]
Long-term Debt	2. Long-Term Debt During the 13 weeks ended June 30, 2016, the Company replaced its existing credit agreement, consisting of a $ 37,188,000 175,000,000 five-year 225,000,000 95,188,000 1.58 0.15 0.25 The Company’s loan agreements include, among other covenants, maintenance of certain financial ratios, including a debt-to-capitalization ratio and a fixed charge coverage ratio. The Company is in compliance with all financial debt covenants at June 30, 2016. The Company utilizes derivatives principally to manage market risks and reduce its exposure resulting from fluctuations in interest rates. The Company formally documents all relationships between hedging instruments and hedged items, as well as its risk-management objectives and strategies for undertaking various hedge transactions. The Company entered into an interest rate swap agreement on February 28, 2013 covering $ 25,000,000 0.96 0.50 25,000,000 159,000 96,000 17,000

Capital Lease Obligation

Capital Lease Obligation	6 Months Ended
	Jun. 30, 2016
Capital Lease Obligation [Abstract]
Capital Lease Obligation	3. Capital Lease Obligation During fiscal 2012, the Company entered into a master licensing agreement with CDF2 Holdings, LLC, a subsidiary of Cinedigm Digital Cinema Corp (CDF2), whereby CDF2 purchased on the Company’s behalf, and then deployed and licensed back to the Company, digital cinema projection systems (the “systems”) for use by the Company in its theatres. As of June 30, 2016, 642 10 45,510,000 25,206,000 22,118,000 Under the terms of the master licensing agreement, the Company made an initial one-time payment to CDF2. The Company expects that the balance of CDF2’s costs to deploy the systems will be covered primarily through the payment of virtual print fees (VPF’s) from film distributors to CDF2 each time a digital movie is booked on one of the systems deployed on a Company screen. The Company agreed to make an average number of bookings of eligible digital movies on each screen on which a licensed system has been deployed to provide for a minimum level of VPF’s paid by distributors (standard booking commitment) to CDF2. To the extent the VPF’s paid by distributors are less than the standard booking commitment, the Company must make a shortfall payment to CDF2. Based upon the Company’s historical booking patterns, the Company does not expect to make any shortfall payments during the life of the agreement. Accounting Standards Codification No. 840, Leases 6,163,000 The Company’s capital lease obligation is being reduced as VPF’s are paid by the film distributors to CDF2. The Company has recorded the reduction of the obligation associated with the payment of VPF’s as a reduction of the interest related to the obligation and the amortization incurred related to the systems, as the payments represent a specific reimbursement of the cost of the systems by the studios. Based on the Company’s expected minimum number of eligible movies to be booked, the Company expects the obligation to be reduced by at least $ 5,361,000

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2016
Income Taxes [Abstract]
Income Taxes	4. Income Taxes The Company’s effective income tax rate, adjusted for losses from noncontrolling interests, for the 13 and 26 weeks ended June 30, 2016 was 39.1 39.2

Business Segment Information

Business Segment Information	6 Months Ended
	Jun. 30, 2016
Business Segment Information [Abstract]
Business Segment Information	5. Business Segment Information The Company’s primary operations are reported in the following business segments: Theatres and Hotels/Resorts. Corporate items include amounts not allocable to the business segments. Corporate revenues consist principally of rent and the corporate operating loss includes general corporate expenses. Corporate information technology costs and accounting shared services costs are allocated to the business segments based upon several factors, including actual usage and segment revenues. Following is a summary of business segment information for the 13 and 26 weeks ended June 30, 2016 and June 25, 2015 (in thousands): 13 Weeks Ended Theatres Hotels/ Corporate Total Revenues $ 76,439 $ 58,435 $ 104 $ 134,978 Operating income (loss) 15,630 7,011 (4,380) 18,261 Depreciation and amortization 6,089 4,183 88 10,360 13 Weeks Ended Theatres Hotels/ Corporate Total Revenues $ 79,797 $ 57,809 $ 172 $ 137,778 Operating income (loss) 17,397 2,430 (2,201) 17,626 Depreciation and amortization 5,288 4,480 91 9,859 26 Weeks Ended Theatres Hotels/ Corporate Total Revenues $ 156,916 $ 103,267 $ 239 $ 260,422 Operating income (loss) 33,435 4,459 (8,287) 29,607 Depreciation and amortization 11,947 8,424 180 20,551 26 Weeks Ended Theatres Hotels/ Corporate Total Revenues $ 152,439 $ 103,767 $ 279 $ 256,485 Operating income (loss) 32,526 (1,116) (6,175) 25,235 Depreciation and amortization 10,576 8,832 181 19,589

Subsequent Event

Subsequent Event	6 Months Ended
	Jun. 30, 2016
Subsequent Events [Abstract]
Subsequent Event	6. Subsequent Event Subsequent to June 30, 2016, the Company received $ 4,093,000 4,093,000 10,131,000

General (Policies)

General (Policies)	6 Months Ended
	Jun. 30, 2016
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation
Depreciation and Amortization	Depreciation and Amortization 10,486,000 20,677,000 9,872,000 19,602,000
Long-Lived Assets	Long-Lived Assets 2,600,000 319,000
Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive Loss Swap Available Pension Accumulated (in thousands) Balance at December 31, 2015 $ 9 $ (11) $ (5,219) $ (5,221) Other comprehensive loss before reclassifications (143) - - (143) Amounts reclassified from accumulated other comprehensive loss (1) 134 - - 134 Net other comprehensive loss (9) - - (9) Balance at June 30, 2016 $ - $ (11) $ (5,219) $ (5,230) Swap Available Pension Accumulated (in thousands) Balance at December 25, 2014 $ 116 $ (11) $ (4,580) $ (4,475) Amortization of the net actuarial loss and prior service credit - - 199 199 Other comprehensive loss before reclassifications (169) - (902) (1,071) Amounts reclassified from accumulated other comprehensive loss (1) 59 - - 59 Net other comprehensive loss (110) - (703) (813) Balance at June 25, 2015 $ 6 $ (11) $ (5,283) $ (5,288) (1)
Earnings Per Share	Earnings Per Share Holders of Common Stock are entitled to cash dividends per share equal to 110 13 Weeks 13 Weeks 26 Weeks 26 Weeks (in thousands, except per share data) Numerator: Net earnings attributable to The Marcus Corporation $ 9,336 $ 9,017 $ 14,788 $ 12,254 Denominator: Denominator for basic EPS 27,498 27,538 27,496 27,491 Effect of dilutive employee stock options 316 328 299 319 Denominator for diluted EPS 27,814 27,866 27,795 27,810 Net earnings per share - basic: Common Stock $ 0.35 $ 0.34 $ 0.55 $ 0.46 Class B Common Stock $ 0.33 $ 0.31 $ 0.50 $ 0.42 Net earnings per share - diluted: Common Stock $ 0.34 $ 0.32 $ 0.53 $ 0.44 Class B Common Stock $ 0.33 $ 0.30 $ 0.50 $ 0.41
Equity	Equity Total Noncontrolling (in thousands) Balance at December 31, 2015 $ 363,352 $ 2,346 Net earnings attributable to The Marcus Corporation 14,788 – Net loss attributable to noncontrolling interests – (162) Distributions to noncontrolling interests – (448) Cash dividends (6,001) – Exercise of stock options 1,199 – Treasury stock transactions, except for stock options (4,234) – Share-based compensation 921 – Other 39 – Other comprehensive loss, net of tax (9) – Balance at June 30, 2016 $ 370,055 $ 1,736 Total Noncontrolling (in thousands) Balance at December 25, 2014 $ 340,170 $ 2,727 Net earnings attributable to The Marcus Corporation 12,254 – Net loss attributable to noncontrolling interests – (294) Distributions to noncontrolling interests – (379) Cash dividends (5,338) – Exercise of stock options 1,834 – Treasury stock transactions, except for stock options (26) – Share-based compensation 788 – Other 139 – Other comprehensive loss, net of tax (813) – Balance at June 25, 2015 $ 349,008 $ 2,054
Fair Value Measurements	Fair Value Measurements The Company’s assets and liabilities measured at fair value are classified in one of the following categories: Level 1 70,000 Level 2 17,000 16,000 Level 3
Defined Benefit Plan	Defined Benefit Plan 13 Weeks 13 Weeks 26 Weeks 26 Weeks (in thousands) Service cost $ 216 $ 182 $ 432 $ 356 Interest cost 352 316 704 627 Net amortization of prior service cost and actuarial loss 91 84 182 166 Net periodic pension cost $ 659 $ 582 $ 1,318 $ 1,149
New Accounting Pronouncement	New Accounting Pronouncements - Revenue From Contracts With Customers In November 2015, the FASB issued ASU No. 2015-17, Balance Sheet Classification of Deferred Taxes In January 2016, the FASB issued ASU No. 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) In March 2016, the FASB issued ASU No. 2016-09, Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting On January 1, 2016, the Company adopted ASU No. 2015-03, Simplifying the Presentation of Debt Issuance Costs (Subtopic 835-30) 404,000 111,000 219,000 On January 1, 2016, the Company adopted ASU No. 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis

General (Tables)

General (Tables)	6 Months Ended
	Jun. 30, 2016
Accounting Policies [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	Accumulated other comprehensive loss presented in the accompanying consolidated balance sheets consists of the following, all presented net of tax: Swap Available Pension Accumulated (in thousands) Balance at December 31, 2015 $ 9 $ (11) $ (5,219) $ (5,221) Other comprehensive loss before reclassifications (143) - - (143) Amounts reclassified from accumulated other comprehensive loss (1) 134 - - 134 Net other comprehensive loss (9) - - (9) Balance at June 30, 2016 $ - $ (11) $ (5,219) $ (5,230) Swap Available Pension Accumulated (in thousands) Balance at December 25, 2014 $ 116 $ (11) $ (4,580) $ (4,475) Amortization of the net actuarial loss and prior service credit - - 199 199 Other comprehensive loss before reclassifications (169) - (902) (1,071) Amounts reclassified from accumulated other comprehensive loss (1) 59 - - 59 Net other comprehensive loss (110) - (703) (813) Balance at June 25, 2015 $ 6 $ (11) $ (5,283) $ (5,288) (1)
Schedule of Earnings Per Share, Basic and Diluted	The following table illustrates the computation of Common Stock and Class B Common Stock basic and diluted net earnings per share for net earnings and provides a reconciliation of the number of weighted-average basic and diluted shares outstanding: 13 Weeks 13 Weeks 26 Weeks 26 Weeks (in thousands, except per share data) Numerator: Net earnings attributable to The Marcus Corporation $ 9,336 $ 9,017 $ 14,788 $ 12,254 Denominator: Denominator for basic EPS 27,498 27,538 27,496 27,491 Effect of dilutive employee stock options 316 328 299 319 Denominator for diluted EPS 27,814 27,866 27,795 27,810 Net earnings per share - basic: Common Stock $ 0.35 $ 0.34 $ 0.55 $ 0.46 Class B Common Stock $ 0.33 $ 0.31 $ 0.50 $ 0.42 Net earnings per share - diluted: Common Stock $ 0.34 $ 0.32 $ 0.53 $ 0.44 Class B Common Stock $ 0.33 $ 0.30 $ 0.50 $ 0.41
Components of Shareholders' Equity Activity Attributable to The Marcus Corporation and Noncontrolling Interests	Activity impacting total shareholders’ equity attributable to The Marcus Corporation and noncontrolling interests for the 26 weeks ended June 30, 2016 and June 25, 2015 was as follows: Total Noncontrolling (in thousands) Balance at December 31, 2015 $ 363,352 $ 2,346 Net earnings attributable to The Marcus Corporation 14,788 – Net loss attributable to noncontrolling interests – (162) Distributions to noncontrolling interests – (448) Cash dividends (6,001) – Exercise of stock options 1,199 – Treasury stock transactions, except for stock options (4,234) – Share-based compensation 921 – Other 39 – Other comprehensive loss, net of tax (9) – Balance at June 30, 2016 $ 370,055 $ 1,736 Total Noncontrolling (in thousands) Balance at December 25, 2014 $ 340,170 $ 2,727 Net earnings attributable to The Marcus Corporation 12,254 – Net loss attributable to noncontrolling interests – (294) Distributions to noncontrolling interests – (379) Cash dividends (5,338) – Exercise of stock options 1,834 – Treasury stock transactions, except for stock options (26) – Share-based compensation 788 – Other 139 – Other comprehensive loss, net of tax (813) – Balance at June 25, 2015 $ 349,008 $ 2,054
Schedule of Net Benefit Costs	The components of the net periodic pension cost of the Company’s unfunded nonqualified, defined-benefit plan are as follows: 13 Weeks 13 Weeks 26 Weeks 26 Weeks (in thousands) Service cost $ 216 $ 182 $ 432 $ 356 Interest cost 352 316 704 627 Net amortization of prior service cost and actuarial loss 91 84 182 166 Net periodic pension cost $ 659 $ 582 $ 1,318 $ 1,149

Business Segment Information (T

Business Segment Information (Tables)	6 Months Ended
	Jun. 30, 2016
Business Segment Information [Abstract]
Schedule of Segment Reporting Information, by Segment	Following is a summary of business segment information for the 13 and 26 weeks ended June 30, 2016 and June 25, 2015 (in thousands): 13 Weeks Ended Theatres Hotels/ Corporate Total Revenues $ 76,439 $ 58,435 $ 104 $ 134,978 Operating income (loss) 15,630 7,011 (4,380) 18,261 Depreciation and amortization 6,089 4,183 88 10,360 13 Weeks Ended Theatres Hotels/ Corporate Total Revenues $ 79,797 $ 57,809 $ 172 $ 137,778 Operating income (loss) 17,397 2,430 (2,201) 17,626 Depreciation and amortization 5,288 4,480 91 9,859 26 Weeks Ended Theatres Hotels/ Corporate Total Revenues $ 156,916 $ 103,267 $ 239 $ 260,422 Operating income (loss) 33,435 4,459 (8,287) 29,607 Depreciation and amortization 11,947 8,424 180 20,551 26 Weeks Ended Theatres Hotels/ Corporate Total Revenues $ 152,439 $ 103,767 $ 279 $ 256,485 Operating income (loss) 32,526 (1,116) (6,175) 25,235 Depreciation and amortization 10,576 8,832 181 19,589

General (Details)

General (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 25, 2015	Jun. 30, 2016	Jun. 25, 2015
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Beginning Balance, Swap Agreements			$ 9	$ 116
Other comprehensive loss before reclassifications, Swap Agreements	$ (28)	$ (33)	(143)	(169)
Amounts reclassified from accumulated other comprehensive loss, Swap Agreements			134	59
Net other comprehensive loss, Swap Agreements			(9)	(110)
Ending Balance, Swap Agreements	0	6	0	6
Beginning Balance, Available for Sale Investments			(11)	(11)
Other comprehensive loss before reclassifications, Available for Sale Investments			0	0
Amounts reclassified from accumulated other comprehensive loss, Available for Sale Investments			0	0
Net other comprehensive loss, Available for Sale Investments			0	0
Ending Balance, Available for Sale Investments	(11)	(11)	(11)	(11)
Beginning Balance, Pension Obligation			(5,219)	(4,580)
Amortization of the net actuarial loss and prior service credit, pension obligation	0	199	0	199
Other comprehensive loss before reclassifications, Pension Obligation	0	(902)	0	(902)
Amounts reclassified from accumulated other comprehensive loss, Pension Obligation			0	0
Net other comprehensive income loss, Pension Obligation			0	(703)
Ending Balance, Pension Obligation	(5,219)	(5,283)	(5,219)	(5,283)
Beginning Balance, Accumulated Other Comprehensive Loss			(5,221)	(4,475)
Amortization of the net actuarial loss and prior service credit, accumulated other comprehensive loss				199
Other comprehensive loss before reclassifications, Accumulated Other Comprehensive Loss			(143)	(1,071)
Amounts reclassified from accumulated other comprehensive loss, Accumulated Other Comprehensive Loss			134	59
Other comprehensive income (loss)	86	(707)	(9)	(813)
Ending Balance, Accumulated Other Comprehensive Loss	$ (5,230)	$ (5,288)	$ (5,230)	$ (5,288)

General (Details 1)

General (Details 1) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 25, 2015	Jun. 30, 2016	Jun. 25, 2015
Numerator:
Net earnings attributable to The Marcus Corporation	$ 9,336	$ 9,017	$ 14,788	$ 12,254
Denominator:
Denominator for basic EPS	27,498	27,538	27,496	27,491
Effect of dilutive employee stock options	316	328	299	319
Denominator for diluted EPS	27,814	27,866	27,795	27,810
Common Stock [Member]
Net earnings per share - Basic:
Common Stock	$ 0.35	$ 0.34	$ 0.55	$ 0.46
Net earnings per share- Diluted:
Common Stock	0.34	0.32	0.53	0.44
Class B Common Stock [Member]
Net earnings per share - Basic:
Common Stock	0.33	0.31	0.5	0.42
Net earnings per share- Diluted:
Common Stock	$ 0.33	$ 0.3	$ 0.5	$ 0.41

General (Details 2)

General (Details 2) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 25, 2015	Jun. 30, 2016	Jun. 25, 2015
Total Shareholders' Equity Attributable to The Marcus Corporation
Beginning Balance			$ 363,352	$ 340,170
Net earnings attributable to The Marcus Corporation	$ 9,336	$ 9,017	14,788	12,254
Cash dividends			(6,001)	(5,338)
Exercise of stock options			1,199	1,834
Treasury stock transactions, except for stock options			(4,234)	(26)
Share-based compensation			921	788
Other			39	139
Other comprehensive loss, net of tax	86	(707)	(9)	(813)
Ending Balance	370,055	349,008	370,055	349,008
Noncontrolling Interests
Beginning Balance			2,346	2,727
Net income (loss) attributable to noncontrolling interests	10	(103)	(162)	(294)
Distributions to noncontrolling interests			(448)	(379)
Ending Balance	$ 1,736	$ 2,054	$ 1,736	$ 2,054

General (Details 3)

General (Details 3) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 25, 2015	Jun. 30, 2016	Jun. 25, 2015
Service cost	$ 216	$ 182	$ 432	$ 356
Interest cost	352	316	704	627
Net amortization of prior service cost and actuarial loss	91	84	182	166
Net periodic pension cost	$ 659	$ 582	$ 1,318	$ 1,149

General (Details Textual)

General (Details Textual) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 25, 2015	Jun. 30, 2016	Jun. 25, 2015	Dec. 31, 2015
Summary of Significant Accounting Policies [Line Items]
Depreciation	$ 10,486,000	$ 9,872,000	$ 20,677,000	$ 19,602,000
Percentage Of Cash Dividends			110.00%
Available-for-sale Securities, Fair Value Disclosure	70,000		$ 70,000		$ 70,000
Interest Rate Fair Value Hedge Liability at Fair Value	$ 17,000		$ 17,000
Interest Rate Fair Value Hedge Asset at Fair Value					16,000
Gain (Loss) on Sale of Assets and Asset Impairment Charges				319,000
Accounting Standards Update 2015-03 [Member]
Summary of Significant Accounting Policies [Line Items]
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets					$ 404,000
Accounting Standards Update 2015-03 [Member] | Interest Expense [Member]
Summary of Significant Accounting Policies [Line Items]
Amortization of Debt Issuance Costs		111,000		$ 219,000
Fair Value, Inputs, Level 3 [Member] | Hotels Resorts [Member]
Summary of Significant Accounting Policies [Line Items]
Impairment of Real Estate		$ 2,600,000

Long-Term Debt (Details Textual

Long-Term Debt (Details Textual) - USD ($)	1 Months Ended	3 Months Ended
	Jun. 30, 2016	Jun. 30, 2016	Jun. 16, 2016	Feb. 28, 2013
Derivative, Amount of Hedged Item				$ 25,000,000
Derivative Liability, Notional Amount	$ 25,000,000	$ 25,000,000
Derivative Instruments Loss Reclassified From Accumulated Income Effective Portion Net Of Tax	96,000
Derivative Instruments, Loss Reclassified from Accumulated OCI into Income, Effective Portion	159,000
Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity			$ 175,000,000
Debt Instrument, Term		5 years
Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member]
Long-term Line of Credit	95,188,000	$ 95,188,000
Debt Instrument, Basis Spread on Variable Rate		1.58%
Revolving Credit Facility [Member] | Minimum [Member]
Line of Credit Facility, Commitment Fee Percentage		0.15%
Revolving Credit Facility [Member] | Maximum [Member]
Line of Credit Facility, Commitment Fee Percentage		0.25%
Credit Agreement [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 225,000,000	$ 225,000,000
Interest Rate Swap [Member]
Derivative, Fixed Interest Rate	0.96%	0.96%
Derivative, Variable Interest Rate	0.50%	0.50%
Interest Expense, Debt	$ 17,000
Term Loan [Member]
Line of Credit Facility, Maximum Borrowing Capacity			$ 37,188,000

Capital Lease Obligation (Detai

Capital Lease Obligation (Details Textual)	6 Months Ended
	Jun. 30, 2016USD ($)	Dec. 31, 2015USD ($)
Property, Plant and Equipment [Line Items]
Capital Leased Assets, Number of Units	642
Term Of Licensing Agreement	10 years
Commitment Minimum Lease Payments	$ 6,163,000
Payments Obligation Reduced Amount	$ 5,361,000
Expect Period Of Payments Obligation	12 months
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Capital Leases, Balance Sheet, Assets by Major Class, Net	$ 45,510,000	$ 45,510,000
Digital Systems [Member]
Property, Plant and Equipment [Line Items]
Finite-Lived Intangible Assets, Accumulated Amortization	$ 25,206,000	$ 22,118,000

Income Taxes (Details Textual)

Income Taxes (Details Textual)	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 25, 2015	Jun. 30, 2016	Jun. 25, 2015
Income Taxes [Line Items]
Effective Income Tax Rate	39.10%	39.70%	39.20%	38.60%

Business Segment Information (D

Business Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 25, 2015	Jun. 30, 2016	Jun. 25, 2015
Segment Reporting Information [Line Items]
Revenues	$ 134,978	$ 137,778	$ 260,422	$ 256,485
Operating income (loss)	18,261	17,626	29,607	25,235
Depreciation and amortization	10,360	9,859	20,551	19,589
Theatres [Member]
Segment Reporting Information [Line Items]
Revenues	76,439	79,797	156,916	152,439
Operating income (loss)	15,630	17,397	33,435	32,526
Depreciation and amortization	6,089	5,288	11,947	10,576
Hotels/Resorts [Member]
Segment Reporting Information [Line Items]
Revenues	58,435	57,809	103,267	103,767
Operating income (loss)	7,011	2,430	4,459	(1,116)
Depreciation and amortization	4,183	4,480	8,424	8,832
Corporate Items [Member]
Segment Reporting Information [Line Items]
Revenues	104	172	239	279
Operating income (loss)	(4,380)	(2,201)	(8,287)	(6,175)
Depreciation and amortization	$ 88	$ 91	$ 180	$ 181

Subsequent Event (Details Textu

Subsequent Event (Details Textual)	6 Months Ended
	Jun. 30, 2016USD ($)
Subsequent Event [Line Items]
Proceeds from Reimbursement of Family Trusts Life Insurance Policies	$ 4,093,000
Family Trust Life Insurance Policy Premiums Receivable	10,131,000
Transfer of Life Insurance Premiums To Accounts And Notes Receivables	$ 4,093,000