The Marcus Corporation (MCS) 10-Q 7 Aug 18 2018 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 28, 2018	Aug. 02, 2018
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 28, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q2
Entity Registrant Name	MARCUS CORP
Entity Central Index Key	62,234
Current Fiscal Year End Date	--12-27
Entity Filer Category	Accelerated Filer
Trading Symbol	MCS
Common Stock [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		19,681,237
Class B Common Stock [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		8,419,728

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 28, 2018	Dec. 28, 2017
Current assets:
Cash and cash equivalents	$ 13,304	$ 16,248
Restricted cash	5,238	4,499
Accounts and notes receivable, net of reserves of $193 and $161, respectively	30,992	27,230
Refundable income taxes	3,400	15,335
Other current assets	14,369	13,409
Total current assets	67,303	76,721
Property and equipment:
Land and improvements	146,980	146,887
Buildings and improvements	765,859	759,166
Leasehold improvements	98,423	93,451
Furniture, fixtures and equipment	360,037	351,879
Construction in progress	7,949	5,269
Total property and equipment	1,379,248	1,356,652
Less accumulated depreciation and amortization	526,652	496,588
Net property and equipment	852,596	860,064
Other assets:
Investments in joint ventures	4,722	4,239
Goodwill	43,422	43,492
Other	34,183	33,281
Total other assets	82,327	81,012
TOTAL ASSETS	1,002,226	1,017,797
Current liabilities:
Accounts payable	37,704	51,541
Taxes other than income taxes	19,536	19,638
Accrued compensation	13,633	15,627
Other accrued liabilities	49,272	53,291
Current portion of capital lease obligations	7,262	7,570
Current maturities of long-term debt	10,065	12,016
Total current liabilities	137,472	159,683
Capital lease obligations	24,777	28,282
Long-term debt	275,321	289,813
Deferred income taxes	38,279	38,233
Deferred compensation and other	59,285	56,662
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	63,253	61,452
Retained earnings	420,910	403,206
Accumulated other comprehensive loss	(7,100)	(7,425)
Stockholders' Equity before Treasury Stock	508,253	488,423
Less cost of Common Stock in treasury (3,145,440 shares at June 28, 2018 and 3,335,745 shares at December 28, 2017)	(41,320)	(43,399)
Total shareholders' equity attributable to The Marcus Corporation	466,933	445,024
Noncontrolling interest	159	100
Total equity	467,092	445,124
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	1,002,226	1,017,797
Common Stock [Member]
Shareholders’ equity attributable to The Marcus Corporation
Common Stock	22,669	22,656
Class B Common Stock [Member]
Shareholders’ equity attributable to The Marcus Corporation
Common Stock	$ 8,521	$ 8,534

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 28, 2018	Dec. 28, 2017
Accounts and notes receivable, reserves	$ 193	$ 161
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	3,145,440	3,335,745
Common Stock [Member]
Common Stock, par (in dollars per share)	$ 1	$ 1
Common Stock, authorized	50,000,000	50,000,000
Common Stock, issued	22,668,528	22,655,517
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	8,520,985	8,533,996
Common Stock, outstanding	8,520,985	8,533,996

Consolidated Statements of Earn

Consolidated Statements of Earnings - USD ($) $ in Thousands		3 Months Ended			6 Months Ended
		Jun. 28, 2018		Jun. 29, 2017	Jun. 28, 2018		Jun. 29, 2017
Revenues:
Theatre admissions		$ 69,607		$ 52,135	$ 132,613		$ 115,976
Rooms		29,118		29,125	49,789		50,059
Theatre concessions		46,798		35,179	88,211		76,075
Food and beverage		18,836		18,777	34,639		33,817
Other revenues		20,023	[1]	17,559	39,549	[1]	34,802
Revenues		184,382		152,775	344,801		310,729
Cost reimbursements		8,916		7,365	16,688		14,867
Total revenues	[2]	193,298		160,140	361,489		325,596
Costs and expenses:
Theatre operations		61,153		46,756	115,808		101,441
Rooms		10,567		10,261	20,068		19,459
Theatre concessions		12,976		9,981	24,937		21,099
Food and beverage		14,899		15,501	28,964		28,968
Advertising and marketing		6,025		6,022	11,139		11,584
Administrative		18,558		17,393	35,840		33,922
Depreciation and amortization		14,426		12,303	28,330		24,551
Rent		2,585		3,332	5,536		6,605
Property taxes		4,779		4,445	9,993		9,523
Other operating expenses		9,307		7,612	18,063		15,955
Reimbursed costs		8,916		7,365	16,688		14,867
Total costs and expenses		164,191		140,971	315,366		287,974
Operating income		29,107		19,169	46,123		37,622
Other income (expense):
Investment income (loss)		27		38	(9)		110
Interest expense		(3,511)		(3,163)	(6,820)		(6,087)
Other expense		(496)		(428)	(992)		(856)
Gain (loss) on disposition of property, equipment and other assets		(408)		428	(408)		29
Equity earnings from unconsolidated joint ventures, net		200		32	252		87
Nonoperating Income (Expense), Total		(4,188)		(3,093)	(7,977)		(6,717)
Earnings before income taxes		24,919		16,076	38,146		30,905
Income taxes		6,207		5,951	9,628		11,663
Net earnings		18,712		10,125	28,518		19,242
Net earnings (loss) attributable to noncontrolling interests		93		1	78		(335)
Net earnings attributable to The Marcus Corporation		$ 18,619		$ 10,124	$ 28,440		$ 19,577
Common Stock [Member]
Net earnings per share - basic:
Common Stock		$ 0.68		$ 0.38	$ 1.05		$ 0.73
Net earnings per share - diluted:
Common Stock		0.65		0.36	1		0.69
Dividends per share:
Common Stock		0.150		0.125	0.300		0.250
Common Class B [Member]
Net earnings per share - basic:
Common Stock		0.62		0.34	0.95		0.66
Net earnings per share - diluted:
Common Stock		0.61		0.33	0.93		0.64
Dividends per share:
Common Stock		$ 0.136		$ 0.114	$ 0.273		$ 0.227
[1]	Included in other revenues is an immaterial amount related to rental income that is not considered contract revenue from contracts with customers under ASC No. 2014-09.
[2]	Revenues include cost reimbursements of $8,916 for the 13 weeks ended June 28, 2018 (Theatres - $387, Hotels/Resorts - $8,529); $7,365 for the 13 weeks ended June 29, 2017 (Theatres - $541, Hotels/Resorts - $6,824); $16,688 for the 26 weeks ended June 28, 2018 (Theatres - $866, Hotels/Resorts - $15,822); and $14,867 for the 26 weeks ended June 29, 2017 (Theatres - $1,159, Hotels/Resorts - $13,708).

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2018	Jun. 29, 2017	Jun. 28, 2018		Jun. 29, 2017
Net earnings	$ 18,712	$ 10,125	$ 28,518		$ 19,242
Other comprehensive income (loss), net of tax:
Change in unrealized gain on available for sale investments, net of tax benefit of $0, $0, $0 and $9, respectively	0	0	0		(14)
Amortization of the net actuarial loss and prior service credit related to the pension, net of tax effect of $42, $83, $36 and $71, respectively	113	53	227		107
Fair market value adjustment of interest rate swap, net of tax effect of $63, $0, $0 and $0, respectively	169	0	(1)		0
Reclassification adjustment on interest rate swap included in interest expense, net of tax effect of $22, $32, $0 and $0, respectively	62	0	88	[1]	0
Other comprehensive income	344	53	314		93
Comprehensive income	19,056	10,178	28,832		19,335
Comprehensive income (loss) attributable to noncontrolling interests	93	1	78		(335)
Comprehensive income attributable to The Marcus Corporation	$ 18,963	$ 10,177	$ 28,754		$ 19,670
[1]	Amount is included in interest expense in the consolidated statements of earnings.

Consolidated Statements of Com6

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2018	Jun. 29, 2017	Jun. 28, 2018	Jun. 29, 2017
Change in unrealized gain on available for sale investments, net of tax benefit	$ 0	$ 0	$ 0	$ 9
Amortization of the net actuarial loss and prior service credit related to the pension, net of tax effect	42	36	83	71
Fair market value adjustment of interest rate swap, net of tax benefit	63	0	0	0
Reclassification adjustment on interest rate swap included in interest expense, net of tax effect	$ 22	$ 0	$ 32	$ 0

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 28, 2018	Jun. 29, 2017
OPERATING ACTIVITIES:
Net earnings	$ 28,518	$ 19,242
Adjustments to reconcile net earnings to net cash provided by operating activities:
Earnings on investments in joint ventures	(253)	(87)
Distributions from joint ventures	64	237
Loss (gain) on disposition of property, equipment and other assets	408	(29)
Amortization of favorable lease right	167	167
Depreciation and amortization	28,330	24,551
Amortization of debt issuance costs	145	139
Shared-based compensation	1,311	1,269
Deferred income taxes	2	1,400
Deferred compensation and other	2,875	1,348
Contribution of the Company’s stock to savings and profit-sharing plan	1,130	1,024
Changes in operating assets and liabilities:
Accounts and notes receivable	(3,762)	(8,389)
Other current assets	(960)	(2,158)
Accounts payable	(6,001)	1,688
Income taxes	12,880	(6,549)
Taxes other than income taxes	(102)	832
Accrued compensation	(1,994)	(3,506)
Other accrued liabilities	(7,315)	(4,578)
Total adjustments	26,925	7,359
Net cash provided by operating activities	55,443	26,601
INVESTING ACTIVITIES:
Capital expenditures	(32,245)	(55,103)
Proceeds from disposals of property, equipment and other assets	76	4,155
Decrease (increase) in other assets	(1,031)	581
Contribution in joint venture	(294)	0
Net cash used in investing activities	(33,494)	(50,367)
Debt transactions:
Proceeds from borrowings on revolving credit facilities	105,000	194,000
Repayment of borrowings on revolving credit facilities	(110,000)	(186,000)
Proceeds from borrowings on long-term debt	0	65,000
Principal payments on long-term debt	(11,516)	(35,719)
Debt issuance costs	0	(370)
Repayments of capital lease obligations	(901)	(516)
Equity transactions:
Treasury stock transactions, except for stock options	(664)	52
Exercise of stock options	2,104	1,241
Dividends paid	(8,158)	(6,741)
Distributions to noncontrolling interest	(19)	0
Net cash provided by (used in) financing activities	(24,154)	30,947
Net increase (decrease) in cash, cash equivalents and restricted cash	(2,205)	7,181
Cash, cash equivalents and restricted cash at beginning of period	20,747	8,705
Cash, cash equivalents and restricted cash at end of period	18,542	15,886
Supplemental Information:
Interest paid, net of amounts capitalized	6,507	5,488
Income taxes paid (refunded)	(3,205)	16,810
Change in accounts payable for additions to property and equipment	$ (7,836)	$ 10,477

General

General	6 Months Ended
	Jun. 28, 2018
General [Abstract]
General	1. General Basis of Presentation Immaterial Restatement of Prior Year Financial Statements Accounting Policies During the 26 weeks ended June 28, 2018, there were no significant changes made to the Company’s significant accounting policies other than the changes attributable to the adoption of the Financial Accounting Standards Board Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers Depreciation and Amortization Accumulated Other Comprehensive Loss Interest Rate Swaps Available for Sale Pension Obligation Accumulated Other Comprehensive (in thousands) Balance at December 28, 2017 $ – $ (11 ) $ (7,414 ) $ (7,425 ) Amount reclassified to retained earnings on December 29, 2017 in connection with the adoption of ASU No. 2016-01 – 11 – 11 Balance at December 29, 2017 – – (7,414 ) (7,414 ) Amortization of the net actuarial loss and prior service credit – – 227 227 Other comprehensive loss before reclassifications (1 ) – – (1 ) Amounts reclassified from accumulated other comprehensive loss 88 (1) – – 88 Net other comprehensive income 87 – 227 314 Balance at June 28, 2018 $ 87 $ – $ (7,187 ) $ (7,100 ) (1) Amount is included in interest expense in the consolidated statements of earnings. Available Pension Accumulated (in thousands) Balance at December 29, 2016 $ 3 $ (5,069 ) $ (5,066 ) Change in unrealized gain on available for sale investments (14 ) – (14 ) Amortization of net actuarial loss and prior service credit – 107 107 Net other comprehensive income (loss) (14 ) 107 93 Balance at June 29, 2017 $ (11 ) $ (4,962 ) $ (4,973 ) Earnings Per Share Holders of Common Stock are entitled to cash dividends per share equal to 110% of all dividends declared and paid on each share of Class B Common Stock. As such, the undistributed earnings for each period are allocated based on the proportionate share of entitled cash dividends. The computation of diluted net earnings per share of Common Stock assumes the conversion of Class B Common Stock and, as such, the undistributed earnings are equal to net earnings for that computation. 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 Ended 13 Weeks Ended 26 Weeks Ended 26 Weeks Ended (in thousands, except per share data) Numerator: Net earnings attributable to The Marcus Corporation $ 18,619 $ 10,124 $ 28,440 $ 19,577 Denominator: Denominator for basic EPS 28,010 27,784 27,952 27,746 Effect of dilutive employee stock options 611 702 582 689 Denominator for diluted EPS 28,621 28,486 28,534 28,435 Net earnings per share - basic: Common Stock $ 0.68 $ 0.38 $ 1.05 $ 0.73 Class B Common Stock $ 0.62 $ 0.34 $ 0.95 $ 0.66 Net earnings per share - diluted: Common Stock $ 0.65 $ 0.36 $ 1.00 $ 0.69 Class B Common Stock $ 0.61 $ 0.33 $ 0.93 $ 0.64 Equity Total Shareholders’ Equity Attributable to The Marcus Corporation Noncontrolling Interests (in thousands) Balance at December 28, 2017 $ 445,024 $ 100 Net earnings attributable to The Marcus Corporation 28,440 – Net earnings attributable to noncontrolling interests – 78 Distributions to noncontrolling interests – (19 ) Cash dividends (8,158 ) – Exercise of stock options 2,104 – Savings and profit sharing contribution 1,130 – Treasury stock transactions, except for stock options (664 ) – Share-based compensation 1,311 – Cumulative effect of adopting ASU No. 2014-09, (2,568 ) – Other comprehensive income, net of tax 314 – Balance at June 28, 2018 $ 466,933 $ 159 Total Shareholders’ Equity Attributable to The Marcus Corporation Noncontrolling Interests (in thousands) Balance at December 29, 2016 $ 390,112 $ 1,535 Net earnings attributable to The Marcus Corporation 19,577 – Net loss attributable to noncontrolling interests – (335 ) Cash dividends (6,741 ) – Exercise of stock options 1,241 – Savings and profit sharing contribution 1,024 – Treasury stock transactions, except for stock options 52 – Share-based compensation 1,269 – Other comprehensive income, net of tax 93 – Balance at June 29, 2017 $ 406,627 $ 1,200 Fair Value Measurements The Company’s assets and liabilities measured at fair value are classified in one of the following categories: Level 1 Level 2 Level 3 Defined Benefit Plan 13 Weeks Ended June 28, 2018 13 Weeks Ended June 29, 2017 26 Weeks Ended June 28, 2018 26 Weeks Ended June 29, 2017 (in thousands) Service cost $ 231 $ 191 $ 463 $ 382 Interest cost 341 339 682 678 Net amortization of prior service cost and actuarial loss 155 89 310 178 Net periodic pension cost $ 727 $ 619 $ 1,455 $ 1,238 Service cost is included in Administrative expense while all other components are recorded within Other expense outside of operating income in the consolidated statements of earnings. New Accounting Pronouncements - Leases (Topic 842) In January 2017, the FASB issued ASU No. 2017-04, Intangibles - Goodwill and Other (Topic 350) - Simplifying the Test for Goodwill Impairment In February 2018, the FASB issued ASU No. 2018-02, Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income On December 29, 2017, the Company adopted and applied to all contracts ASU No. 2014-09, Revenue from Contracts with Customers The Company performed a review of the requirements of ASU No. 2014-09 and related ASUs in preparation for adoption of the new standard. The Company reviewed its key revenue streams and related customer contracts and has applied the five-step model of the standard to these revenue streams and compared the results to its current accounting practices. The majority of the Company’s revenues continue to be recognized in a manner consistent with historical practice. See Note 2 for further discussion. On December 29, 2017, the Company adopted ASU No. 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities, On December 29, 2017, the Company adopted ASU No. 2016-15, Statement of Cash Flows (Topic 230) - Classification of Certain Cash Receipts and Cash Payments On December 29, 2017, the Company adopted ASU No. 2016-18, Statement of Cash Flows (Topic 230) - Restricted Cash On December 29, 2017, the Company adopted ASU No. 2017-01, Business Combinations (Topic 805) - Clarifying the Definition of a Business On December 29, 2017, the Company adopted ASU No. 2017-05, Other Income - Gains and Losses from the Derecognition of Nonfinancial Assets (Subtopic 610-20): Clarifying the Scope of Asset Derecognition Guidance and Accounting for Partial Sales of Nonfinancial Assets On December 29, 2017, the Company adopted ASU No. 2017-07, Compensation - Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Benefit Cost On December 29, 2017, the Company adopted ASU No. 2017-09, Compensation - Stock Compensation (Topic 718): Scope of Modification Accounting Compensation - Stock Compensation On December 29, 2017, the Company early adopted ASU No. 2017-12, Targeted Improvements to Accounting for Hedging Activities Derivatives and Hedging (Topic 815)

Revenue Recognition

Revenue Recognition	6 Months Ended
	Jun. 28, 2018
Revenue Recognition [Abstract]
Revenue Recognition	Note 2 – Revenue Recognition Revenue Recognition Policy Revenue from contracts with customers is recognized when, or as, the Company satisfies its performance of obligations by transferring the promised services to the customer. A service is transferred to a customer when, or as, the customer obtains control of that service. A performance obligation may be satisfied over time or at a point in time. Revenue from a performance obligation satisfied over time is recognized by measuring the Company’s progress in satisfying the performance obligation in a manner that depicts the transfer of the services to the customer. Revenue from a performance obligation satisfied at a point in time is recognized at the point in time that the Company determines the customer obtains control over the promised service. The amount of revenue recognized reflects the consideration entitled to in exchange for those services. 13 Weeks Ended June 28, 2018 Reportable Segment Theatres Hotels/ Corporate Total Theatre admissions $ 69,607 $ – $ – $ 69,607 Rooms – 29,118 – 29,118 Theatre concessions 46,798 – – 46,798 Food and beverage – 18,836 – 18,836 Other revenues (1) 8,661 11,230 132 20,023 Cost reimbursements 387 8,529 – 8,916 Total revenues $ 125,453 $ 67,713 $ 132 $ 193,298 26 Weeks Ended June 28, 2018 Reportable Segment Theatres Hotels/ Corporate Total Theatre admissions $ 132,613 $ – $ – $ 132,613 Rooms – 49,789 – 49,789 Theatre concessions 88,211 – – 88,211 Food and beverage – 34,639 – 34,639 Other revenues (1) 16,698 22,631 220 39,549 Cost reimbursements 866 15,822 – 16,688 Total revenues $ 238,388 $ 122,881 $ 220 $ 361,489 (1) Included in other revenues is an immaterial amount related to rental income that is not considered contract revenue from contracts with customers under ASC No. 2014-09. The Company recognizes revenue from its rooms as earned on the close of business each day. Revenue from theatre admissions, theatre concessions and food and beverage sales are recognized at the time of sale. Revenues from advanced ticket and gift card sales are recorded as deferred revenue and are recognized when tickets or gift cards are redeemed. Gift card breakage income is recognized based upon historical redemption patterns and represents the balance of gift cards for which the Company believes the likelihood of redemption by the customer is remote. Gift card breakage income is recorded in other revenues in the consolidated statements of earnings. The adoption of ASU No. 2014-09 did not have an effect on how revenue is recognized for these arrangements. Other revenues include management fees for theatres and hotels under management agreements. The management fees are recognized as earned based on the terms of the agreements. The management fees include variable consideration that is recognized based on the Company’s right to invoice as the amount invoiced corresponds directly to the value transferred to the customer. Other revenues also include family entertainment center revenues and revenues from Hotels/Resorts outlets such as spa, ski, golf and parking, each of which are recognized at the time of sale. In addition, other revenues include pre-show advertising income in the Company’s theatres. Pre-show advertising revenue includes variable consideration, primarily based on attendance levels, that is allocated to distinct time periods that make up the overall performance obligation. The adoption of ASU No. 2014-09 did not have an effect on how revenue is recognized for these arrangements. Cost reimbursements primarily consist of payroll and related expenses at managed properties where the Company is the employer and may include certain operational and administrative costs as provided for in the Company’s contracts with owners. These costs are reimbursed back to the Company. As these costs have no added markup, the revenue and related expense have no impact on operating income or net earnings. The adoption of ASU No. 2014-09 did not have an effect on how revenue is recognized for these arrangements. The timing of the Company’s revenue recognition may differ from the timing of payment by customers. However, the Company typically receives payment within a very short period of time of when the revenue is recognized. The Company records a receivable when revenue is recognized prior to payment and it has an unconditional right to payment. Alternatively, when payment precedes the provision for the related services, deferred revenue is recorded until the performance obligation is satisfied. Revenues do not include sales tax as the Company considers itself a pass-through conduit for collecting and remitting sales tax. Adoption of ASU No. 2014-09 Balance at Cumulative Adjustment Balance at (in thousands) Refundable income taxes $ 15,335 $ 945 $ 16,280 Other accrued liabilities 53,291 3,296 56,587 Deferred compensation and other 56,662 217 56,879 Retained earnings 403,206 (2,568) 400,638 The one-time cumulative effect adjustment to the balance sheet is due to a change in accounting for the Company’s loyalty programs. The Company offers a customer loyalty program to its theatre customers called Magical Movie Rewards. The program allows members to earn points for each dollar spent and access special offers available only to members. The rewards are redeemable at any Marcus Theatre box office, concession stand or food and beverage venue. The Company also offers a customer loyalty program to its Hotels and Resorts customers which allows members to earn points for each dollar spent in its restaurants. The rewards are redeemable at any of the Company’s hotel outlets including spas, restaurants, and golf. Under ASU No. 2014-09, the portion of Theatre admission revenues, Theatre concession revenues and Food and beverage revenues attributable to loyalty points earned by customers are deferred as a reduction of these revenues until related reward redemption. Through December 28, 2017, the Company recorded the estimated incremental cost of redeeming loyalty points at the time they were earned in Advertising and marketing expense. The change had the effect of an immaterial reduction of theatre admission revenues and a corresponding immaterial increase in theatre concession revenues with an offsetting increase in other long-term liabilities based upon historical customer reward redemption patterns. In accordance with ASU No. 2014-09, the Company has concluded that it is the principal (as opposed to agent) in the arrangement with third-party internet ticketing companies in regards to sale of internet tickets to customers, and therefore, recognizes ticket fee revenue based on a gross transaction price. As such, internet ticket fee revenue is deferred and recognized when the related film exhibition takes place on a gross transaction price basis. Through December 28, 2017, the Company recorded internet ticket fee revenues net of third-party commission or service fees. The change had the effect of increasing other revenues and other operating expense but had no impact on net earnings or cash flows from operations. For the 13 Weeks Ended June 28, 2018 For the 26 Weeks Ended June 28, 2018 As Reported ASU Adjusted (1) As Reported ASU Adjusted (1) Revenues: Theatre admissions $ 69,607 $ (750) $ 70,357 $ 132,613 $ (1,356) $ 133,969 Theatre concessions 46,798 546 46,252 88,211 964 87,247 Food and beverage 18,836 41 18,795 34,639 20 34,619 Other revenues 20,023 1,418 18,605 39,549 2,705 36,844 Total 193,298 1,255 192,043 361,489 2,333 359,156 Costs and expenses: Theatre operations 61,153 160 60,993 115,808 314 115,494 Theatre concessions 12,976 171 12,805 24,937 310 24,627 Advertising and marketing 6,025 (563) 6,588 11,139 (1,053) 12,192 Other operating expenses 9,307 1,402 7,905 18,063 2,604 15,459 Total costs and expenses 164,191 1,170 163,021 315,366 2,175 313,191 Operating income 29,107 85 29,022 46,123 158 45,965 Income taxes 6,207 21 6,186 9,628 40 9,588 Net earnings attributable to The Marcus Corporation 18,619 64 18,555 28,440 118 28,322 (1) The amounts reflect each affected financial statement line item as they would have been reported under US GAAP prior to the adoption of ASU No. 2014-09. The adoption of ASU No. 2014-09 had the following effect on our consolidated balance sheet as of June 28, 2018 (in thousands): As Reported ASU Adjusted (1) Refundable income taxes $ 3,400 $ 945 $ 2,455 Total current assets 67,303 945 66,358 Total assets 1,002,226 945 1,001,281 Other accrued liabilities 49,272 3,572 45,700 Total current liabilities 137,472 3,572 133,900 Deferred compensation and other 59,285 99 59,186 Retained Earnings 420,910 (2,726) 423,636 Shareholders equity attributable to 466,933 (2,726) 469,659 Total equity 467,092 (2,726) 469,818 Total liabilities and shareholders equity 1,002,226 945 1,001,281 (1) The amounts reflect each affected financial statement line item as they would have been reported under US GAAP prior to the adoption of ASU No. 2014-09. The Company had deferred revenue from contracts with customers of $ 31,826,000 36,007,000 During the 13 and 26 weeks ended June 28, 2018, respectively, the Company recognized revenue of $ 4,788,000 14,989,000 A significant majority of the Company’s revenue is recorded in less than one year from the original contract. As of June 28, 2018, the amount of transaction price allocated to the remaining performance obligations under the Company’s advanced tickets sales was $ 4,513,000 1.3 198,000 79,000 As part of the Company’s adoption of ASU No. 2014-09, the Company elected to use the following practical expedients: (i) not to adjust the promised amount of consideration for the effects of a significant financing component when the Company expects, at contract inception, that the period between the Company's transfer of a promised product or service to a customer and when the customer pays for that product or service will be one year or less; (ii) not to assess whether promised goods or services are performance obligations if they are immaterial in the context of the contract with the customer; (iii) to expense costs as incurred for costs to obtain contracts when the amortization period would have been one year or less, which mainly includes internal sales and development compensation; (iv) not to disclose remaining performance obligations when the remaining performance obligations have original expected durations of one year or less; and (v) not to disclose remaining performance obligations when variable consideration is allocated entirely to a wholly unsatisfied promise to transfer a service that forms a single performance obligation (which exists in the Company’s management fee contracts and its pre-show advertising contracts).

Long-Term Debt and Capital Leas

Long-Term Debt and Capital Lease Obligations	6 Months Ended
	Jun. 28, 2018
Debt Disclosure [Abstract]
Long-Term Debt and Capital Lease Obligations	3. Long-Term Debt and Capital Lease Obligations Long-Term Debt - 50,000,000 4.32 Also during the 26 weeks ended June 29, 2017, a note that matured in January 2017 with a balance of $ 24,226,000 15,000,000 3.81 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 two interest rate swap agreements on March 1, 2018 covering $ 50,000,000 2.559 2.000 25,000,000 2.687 2.000 119,000 The Company had an interest rate swap that expired in January 2018. The swap agreement covered $ 25,000,000 0.96 13,000 Capital Lease Obligations - 10 45,510,000 37,559,000 34,471,000 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 $ 5,312,000 The Company is the obligor of several movie theatre and equipment leases with unaffiliated third parties that qualify for capital lease accounting. Included in buildings and improvements as of June 28, 2018 and December 28, 2017 is $ 25,648,000 3,204,000 2,300,000 1,712,000 377,000 255,000 808 1,616

Income Taxes

Income Taxes	6 Months Ended
	Jun. 28, 2018
Income Tax Disclosure [Abstract]
Income Taxes	4. Income Taxes The Company’s effective income tax rate, adjusted for earnings (losses) from noncontrolling interests, for the 13 and 26 weeks ended June 28, 2018 was 25.0 25.3 37.0 37.3 35 21 During the fiscal year ended December 28, 2017, the Company was able to make a reasonable estimate of the impact of the Tax Cuts and Jobs Act of 2017, including the reduction in the corporate tax rate and the provisions related to executive compensation and 100% bonus depreciation on qualifying property. However, given the Act’s broad and complex changes, further clarification, interpretation and regulatory guidance could affect the assumptions the Company used in making its reasonable estimate. Following the guidance of the U.S. Securities and Exchange Commission's Staff Accounting Bulletin No. 118, any adjustments to the Company's estimate will be reported as a component of income tax expense and disclosed in the period when any such adjustments have been determined within the one-year measurement period. During the 26 weeks ended June 28, 2018, the Company did not make any adjustment to the estimates recorded in fiscal 2017.

Business Segment Information

Business Segment Information	6 Months Ended
	Jun. 28, 2018
Segment Reporting [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. 13 Weeks Ended Theatres Hotels/ Corporate Items Total Revenues (1) $ 125,453 $ 67,713 $ 132 $ 193,298 Operating income (loss) 27,877 6,362 (5,132) 29,107 Depreciation and amortization 9,656 4,684 86 14,426 13 Weeks Ended Theatres Hotels/ Corporate Items Total Revenues (1) $ 94,357 $ 65,611 $ 172 $ 160,140 Operating income (loss) 17,992 5,819 (4,642) 19,169 Depreciation and amortization 7,808 4,401 94 12,303 26 Weeks Ended Theatres Hotels/ Corporate Items Total Revenues (1) $ 238,388 $ 122,881 $ 220 $ 361,489 Operating income (loss) 51,860 3,713 (9,450) 46,123 Depreciation and amortization 18,884 9,274 172 28,330 26 Weeks Ended Theatres Hotels/ Corporate Items Total Revenues (1) $ 206,363 $ 118,951 $ 282 $ 325,596 Operating income (loss) 42,715 3,144 (8,237) 37,622 Depreciation and amortization 15,601 8,758 192 24,551 (1) Revenues include cost reimbursements of $ 8,916 387 8,529 7,365 541 6,824 16,688 866 15,822 14,867 1,159 13,708

General (Policies)

General (Policies)	6 Months Ended
	Jun. 28, 2018
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation – The unaudited consolidated financial statements for the 13 and 26 weeks ended June 28, 2018 and June 29, 2017 have been prepared by the Company. In the opinion of management, all adjustments, consisting of normal recurring adjustments necessary to present fairly the unaudited interim financial information at June 28, 2018, and for all periods presented, have been made. The results of operations during the interim periods are not necessarily indicative of the results of operations for the entire year or other interim periods. However, the unaudited consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 28, 2017.
Immaterial Restatement of Prior Year Financial Statements	Immaterial Restatement of Prior Year Financial Statements – 7,365 14,867
Accounting Policies	Accounting Policies – Refer to the Company’s audited consolidated financial statements (including footnotes) for the fiscal year ended December 28, 2017, contained in the Company’s Annual Report on Form 10-K for such year, for a description of the Company’s accounting policies. During the 26 weeks ended June 28, 2018, there were no significant changes made to the Company’s significant accounting policies other than the changes attributable to the adoption of the Financial Accounting Standards Board Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers
Depreciation and Amortization	Depreciation and Amortization - 14,445,000 28,481,000 12,250,000 24,422,000
Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive Loss – Interest Available Pension Accumulated (in thousands) Balance at December 28, 2017 $ – $ (11) $ (7,414) $ (7,425) Amount reclassified to retained earnings on December 29, 2017 in connection with the adoption of ASU No. 2016-01 – 11 – 11 Balance at December 29, 2017 – – (7,414) (7,414) Amortization of the net actuarial loss and prior service credit – – 227 227 Other comprehensive loss before reclassifications (1) – – (1) Amounts reclassified from accumulated other comprehensive loss 88 (1) – – 88 Net other comprehensive income 87 – 227 314 Balance at June 28, 2018 $ 87 $ – $ (7,187) $ (7,100) (1) Amount is included in interest expense in the consolidated statements of earnings. Available Pension Accumulated (in thousands) Balance at December 29, 2016 $ 3 $ (5,069) $ (5,066) Change in unrealized gain on available for sale investments (14) – (14) Amortization of net actuarial loss and prior service credit – 107 107 Net other comprehensive income (loss) (14) 107 93 Balance at June 29, 2017 $ (11) $ (4,962) $ (4,973)
Earnings Per Share	Earnings Per Share - Net earnings per share (EPS) of Common Stock and Class B Common Stock is computed using the two class method. Basic net earnings per share is computed by dividing net earnings by the weighted-average number of common shares outstanding. Diluted net earnings per share is computed by dividing net earnings by the weighted-average number of common shares outstanding, adjusted for the effect of dilutive stock options using the treasury method. Convertible Class B Common Stock is reflected on an if-converted basis. The computation of the diluted net earnings per share of Common Stock assumes the conversion of Class B Common Stock, while the diluted net earnings per share of Class B Common Stock does not assume the conversion of those shares. Holders of Common Stock are entitled to cash dividends per share equal to 110 13 Weeks 13 Weeks 26 Weeks 26 Weeks (in thousands, except per share data) Numerator: Net earnings attributable to The Marcus Corporation $ 18,619 $ 10,124 $ 28,440 $ 19,577 Denominator: Denominator for basic EPS 28,010 27,784 27,952 27,746 Effect of dilutive employee stock options 611 702 582 689 Denominator for diluted EPS 28,621 28,486 28,534 28,435 Net earnings per share - basic: Common Stock $ 0.68 $ 0.38 $ 1.05 $ 0.73 Class B Common Stock $ 0.62 $ 0.34 $ 0.95 $ 0.66 Net earnings per share - diluted: Common Stock $ 0.65 $ 0.36 $ 1.00 $ 0.69 Class B Common Stock $ 0.61 $ 0.33 $ 0.93 $ 0.64
Equity	Equity – Total Shareholders’ Equity Noncontrolling Interests (in thousands) Balance at December 28, 2017 $ 445,024 $ 100 Net earnings attributable to The Marcus Corporation 28,440 – Net earnings attributable to noncontrolling interests – 78 Distributions to noncontrolling interests – (19) Cash dividends (8,158) – Exercise of stock options 2,104 – Savings and profit sharing contribution 1,130 – Treasury stock transactions, except for stock options (664) – Share-based compensation 1,311 – Cumulative effect of adopting ASU No. 2014-09, (2,568) – Other comprehensive income, net of tax 314 – Balance at June 28, 2018 $ 466,933 $ 159 Total Shareholders’ Equity Noncontrolling Interests (in thousands) Balance at December 29, 2016 $ 390,112 $ 1,535 Net earnings attributable to The Marcus Corporation 19,577 – Net loss attributable to noncontrolling interests – (335) Cash dividends (6,741) – Exercise of stock options 1,241 – Savings and profit sharing contribution 1,024 – Treasury stock transactions, except for stock options 52 – Share-based compensation 1,269 – Other comprehensive income, net of tax 93 – Balance at June 29, 2017 $ 406,627 $ 1,200
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 Level 2 Level 3
Defined Benefit Plan	Defined Benefit Plan – 13 Weeks 13 Weeks 26 Weeks 26 Weeks (in thousands) Service cost $ 231 $ 191 $ 463 $ 382 Interest cost 341 339 682 678 Net amortization of prior service cost and actuarial loss 155 89 310 178 Net periodic pension cost $ 727 $ 619 $ 1,455 $ 1,238 Service cost is included in Administrative expense while all other components are recorded within Other expense outside of operating income in the consolidated statements of earnings.
New Accounting Pronouncements	New Accounting Pronouncements - In February 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2016-02, Leases (Topic 842) In January 2017, the FASB issued ASU No. 2017-04, Intangibles - Goodwill and Other (Topic 350) - Simplifying the Test for Goodwill Impairment In February 2018, the FASB issued ASU No. 2018-02, Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income On December 29, 2017, the Company adopted and applied to all contracts ASU No. 2014-09, Revenue from Contracts with Customers The Company performed a review of the requirements of ASU No. 2014-09 and related ASUs in preparation for adoption of the new standard. The Company reviewed its key revenue streams and related customer contracts and has applied the five-step model of the standard to these revenue streams and compared the results to its current accounting practices. The majority of the Company’s revenues continue to be recognized in a manner consistent with historical practice. See Note 2 for further discussion. On December 29, 2017, the Company adopted ASU No. 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities, On December 29, 2017, the Company adopted ASU No. 2016-15, Statement of Cash Flows (Topic 230) - Classification of Certain Cash Receipts and Cash Payments On December 29, 2017, the Company adopted ASU No. 2016-18, Statement of Cash Flows (Topic 230) - Restricted Cash 2,086 On December 29, 2017, the Company adopted ASU No. 2017-01, Business Combinations (Topic 805) - Clarifying the Definition of a Business On December 29, 2017, the Company adopted ASU No. 2017-05, Other Income - Gains and Losses from the Derecognition of Nonfinancial Assets (Subtopic 610-20): Clarifying the Scope of Asset Derecognition Guidance and Accounting for Partial Sales of Nonfinancial Assets On December 29, 2017, the Company adopted ASU No. 2017-07, Compensation - Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Benefit Cost 428,000 856,000 On December 29, 2017, the Company adopted ASU No. 2017-09, Compensation - Stock Compensation (Topic 718): Scope of Modification Accounting Compensation - Stock Compensation On December 29, 2017, the Company early adopted ASU No. 2017-12, Targeted Improvements to Accounting for Hedging Activities Derivatives and Hedging (Topic 815)

General (Tables)

General (Tables)	6 Months Ended
	Jun. 28, 2018
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: Interest Available Pension Accumulated (in thousands) Balance at December 28, 2017 $ – $ (11) $ (7,414) $ (7,425) Amount reclassified to retained earnings on December 29, 2017 in connection with the adoption of ASU No. 2016-01 – 11 – 11 Balance at December 29, 2017 – – (7,414) (7,414) Amortization of the net actuarial loss and prior service credit – – 227 227 Other comprehensive loss before reclassifications (1) – – (1) Amounts reclassified from accumulated other comprehensive loss 88 (1) – – 88 Net other comprehensive income 87 – 227 314 Balance at June 28, 2018 $ 87 $ – $ (7,187) $ (7,100) (1) Amount is included in interest expense in the consolidated statements of earnings. Available Pension Accumulated (in thousands) Balance at December 29, 2016 $ 3 $ (5,069) $ (5,066) Change in unrealized gain on available for sale investments (14) – (14) Amortization of net actuarial loss and prior service credit – 107 107 Net other comprehensive income (loss) (14) 107 93 Balance at June 29, 2017 $ (11) $ (4,962) $ (4,973)
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 $ 18,619 $ 10,124 $ 28,440 $ 19,577 Denominator: Denominator for basic EPS 28,010 27,784 27,952 27,746 Effect of dilutive employee stock options 611 702 582 689 Denominator for diluted EPS 28,621 28,486 28,534 28,435 Net earnings per share - basic: Common Stock $ 0.68 $ 0.38 $ 1.05 $ 0.73 Class B Common Stock $ 0.62 $ 0.34 $ 0.95 $ 0.66 Net earnings per share - diluted: Common Stock $ 0.65 $ 0.36 $ 1.00 $ 0.69 Class B Common Stock $ 0.61 $ 0.33 $ 0.93 $ 0.64
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 28, 2018 and June 29, 2017 was as follows: Total Shareholders’ Equity Noncontrolling Interests (in thousands) Balance at December 28, 2017 $ 445,024 $ 100 Net earnings attributable to The Marcus Corporation 28,440 – Net earnings attributable to noncontrolling interests – 78 Distributions to noncontrolling interests – (19) Cash dividends (8,158) – Exercise of stock options 2,104 – Savings and profit sharing contribution 1,130 – Treasury stock transactions, except for stock options (664) – Share-based compensation 1,311 – Cumulative effect of adopting ASU No. 2014-09, (2,568) – Other comprehensive income, net of tax 314 – Balance at June 28, 2018 $ 466,933 $ 159 Total Shareholders’ Equity Noncontrolling Interests (in thousands) Balance at December 29, 2016 $ 390,112 $ 1,535 Net earnings attributable to The Marcus Corporation 19,577 – Net loss attributable to noncontrolling interests – (335) Cash dividends (6,741) – Exercise of stock options 1,241 – Savings and profit sharing contribution 1,024 – Treasury stock transactions, except for stock options 52 – Share-based compensation 1,269 – Other comprehensive income, net of tax 93 – Balance at June 29, 2017 $ 406,627 $ 1,200
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 $ 231 $ 191 $ 463 $ 382 Interest cost 341 339 682 678 Net amortization of prior service cost and actuarial loss 155 89 310 178 Net periodic pension cost $ 727 $ 619 $ 1,455 $ 1,238

Revenue Recognition (Tables)

Revenue Recognition (Tables)	6 Months Ended
	Jun. 28, 2018
Revenue Recognition [Abstract]
Disaggregation of Revenue	The disaggregation of revenues by business segment for the 13 and 26 weeks ended June 28, 2018 is as follows (in thousands): 13 Weeks Ended June 28, 2018 Reportable Segment Theatres Hotels/ Corporate Total Theatre admissions $ 69,607 $ – $ – $ 69,607 Rooms – 29,118 – 29,118 Theatre concessions 46,798 – – 46,798 Food and beverage – 18,836 – 18,836 Other revenues (1) 8,661 11,230 132 20,023 Cost reimbursements 387 8,529 – 8,916 Total revenues $ 125,453 $ 67,713 $ 132 $ 193,298 26 Weeks Ended June 28, 2018 Reportable Segment Theatres Hotels/ Corporate Total Theatre admissions $ 132,613 $ – $ – $ 132,613 Rooms – 49,789 – 49,789 Theatre concessions 88,211 – – 88,211 Food and beverage – 34,639 – 34,639 Other revenues (1) 16,698 22,631 220 39,549 Cost reimbursements 866 15,822 – 16,688 Total revenues $ 238,388 $ 122,881 $ 220 $ 361,489 (1) Included in other revenues is an immaterial amount related to rental income that is not considered contract revenue from contracts with customers under ASC No. 2014-09.
Schedule of New Accounting Pronouncements and Changes in Accounting Principles	Due to adoption of ASU No. 2014-09, on the first day of fiscal 2018, the Company recorded a one-time cumulative effect adjustment to the balance sheet as follows: Balance at Cumulative Adjustment Balance at (in thousands) Refundable income taxes $ 15,335 $ 945 $ 16,280 Other accrued liabilities 53,291 3,296 56,587 Deferred compensation and other 56,662 217 56,879 Retained earnings 403,206 (2,568) 400,638 The adoption of ASU No. 2014-09 had the following effect on our consolidated statement of earnings for the 13 and 26 weeks ended June 28, 2018 (in thousands): For the 13 Weeks Ended June 28, 2018 For the 26 Weeks Ended June 28, 2018 As Reported ASU Adjusted (1) As Reported ASU Adjusted (1) Revenues: Theatre admissions $ 69,607 $ (750) $ 70,357 $ 132,613 $ (1,356) $ 133,969 Theatre concessions 46,798 546 46,252 88,211 964 87,247 Food and beverage 18,836 41 18,795 34,639 20 34,619 Other revenues 20,023 1,418 18,605 39,549 2,705 36,844 Total 193,298 1,255 192,043 361,489 2,333 359,156 Costs and expenses: Theatre operations 61,153 160 60,993 115,808 314 115,494 Theatre concessions 12,976 171 12,805 24,937 310 24,627 Advertising and marketing 6,025 (563) 6,588 11,139 (1,053) 12,192 Other operating expenses 9,307 1,402 7,905 18,063 2,604 15,459 Total costs and expenses 164,191 1,170 163,021 315,366 2,175 313,191 Operating income 29,107 85 29,022 46,123 158 45,965 Income taxes 6,207 21 6,186 9,628 40 9,588 Net earnings attributable to The Marcus Corporation 18,619 64 18,555 28,440 118 28,322 (1) The amounts reflect each affected financial statement line item as they would have been reported under US GAAP prior to the adoption of ASU No. 2014-09. The adoption of ASU No. 2014-09 had the following effect on our consolidated balance sheet as of June 28, 2018 (in thousands): As Reported ASU Adjusted (1) Refundable income taxes $ 3,400 $ 945 $ 2,455 Total current assets 67,303 945 66,358 Total assets 1,002,226 945 1,001,281 Other accrued liabilities 49,272 3,572 45,700 Total current liabilities 137,472 3,572 133,900 Deferred compensation and other 59,285 99 59,186 Retained Earnings 420,910 (2,726) 423,636 Shareholders equity attributable to 466,933 (2,726) 469,659 Total equity 467,092 (2,726) 469,818 Total liabilities and shareholders equity 1,002,226 945 1,001,281 (1) The amounts reflect each affected financial statement line item as they would have been reported under US GAAP prior to the adoption of ASU No. 2014-09.

Business Segment Information (T

Business Segment Information (Tables)	6 Months Ended
	Jun. 28, 2018
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	Following is a summary of business segment information for the 13 and 26 weeks ended June 28, 2018 and June 29, 2017 (in thousands): 13 Weeks Ended Theatres Hotels/ Corporate Items Total Revenues (1) $ 125,453 $ 67,713 $ 132 $ 193,298 Operating income (loss) 27,877 6,362 (5,132) 29,107 Depreciation and amortization 9,656 4,684 86 14,426 13 Weeks Ended Theatres Hotels/ Corporate Items Total Revenues (1) $ 94,357 $ 65,611 $ 172 $ 160,140 Operating income (loss) 17,992 5,819 (4,642) 19,169 Depreciation and amortization 7,808 4,401 94 12,303 26 Weeks Ended Theatres Hotels/ Corporate Items Total Revenues (1) $ 238,388 $ 122,881 $ 220 $ 361,489 Operating income (loss) 51,860 3,713 (9,450) 46,123 Depreciation and amortization 18,884 9,274 172 28,330 26 Weeks Ended Theatres Hotels/ Corporate Items Total Revenues (1) $ 206,363 $ 118,951 $ 282 $ 325,596 Operating income (loss) 42,715 3,144 (8,237) 37,622 Depreciation and amortization 15,601 8,758 192 24,551 (1) Revenues include cost reimbursements of $ 8,916 387 8,529 7,365 541 6,824 16,688 866 15,822 14,867 1,159 13,708

General (Details)

General (Details) - USD ($) $ in Thousands	Dec. 28, 2017	Jun. 28, 2018	Jun. 29, 2017	Jun. 28, 2018		Jun. 29, 2017
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Beginning Balance, Interest Rate Swaps	$ 0			$ 0
Other comprehensive loss before reclassifications, Interest Rate Swaps		$ 169	$ 0	(1)		$ 0
Amounts reclassified from accumulated other comprehensive loss, Interest Rate Swaps	0	62	0	88	[1]	0
Net other comprehensive income, Interest Rate Swaps				87
Ending Balance, Interest Rate Swaps	0	87		87
Beginning Balance, Available for Sale Investments	(11)			0		3
Change in unrealized gain on available for sale investments, Available for Sale Investments		0	0	0		(14)
Other comprehensive loss before reclassifications, Available for Sale Investments				0
Amounts reclassified from accumulated other comprehensive loss, Available for Sale Investments	11			0	[1]
Net other comprehensive income, Available for Sale Investments				0		(14)
Ending Balance, Available for Sale Investments	0	0	(11)	0		(11)
Beginning Balance, Pension Obligation	(7,414)			(7,414)		(5,069)
Amortization of the net actuarial loss and prior service credit, Pension Obligation		113	53	227		107
Other comprehensive loss before reclassifications, Pension Obligation				0
Amounts reclassified from accumulated other comprehensive loss, Pension Obligation	0			0	[1]
Net other comprehensive income, Pension Obligation				227		107
Ending Balance, Pension Obligation	(7,414)	(7,187)	(4,962)	(7,187)		(4,962)
Beginning Balance, Accumulated Other Comprehensive Loss	(7,425)			(7,425)		(5,066)
Change In Unrealized Gain On Available For Sale Investments, Accumulated Other Comprehensive Loss						(14)
Amortization of net actuarial loss and prior service credit, Accumulated Other Comprehensive Loss		113	53	227		107
Other comprehensive loss before reclassifications, Accumulated Other Comprehensive Loss				(1)
Amounts reclassified from accumulated other comprehensive loss, Accumulated Other Comprehensive Loss	11			88	[1]
Net Other Comprehensive Income loss, Accumulated Other Comprehensive Loss				314		93
Ending Balance, Accumulated Other Comprehensive Loss	$ (7,425)	$ (7,100)	$ (4,973)	$ (7,100)		$ (4,973)
[1]	Amount is included in interest expense in the consolidated statements of earnings.

General (Details 1)

General (Details 1) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2018	Jun. 29, 2017	Jun. 28, 2018	Jun. 29, 2017
Numerator:
Net earnings attributable to The Marcus Corporation	$ 18,619	$ 10,124	$ 28,440	$ 19,577
Denominator:
Denominator for basic EPS	28,010	27,784	27,952	27,746
Effect of dilutive employee stock options	611	702	582	689
Denominator for diluted EPS	28,621	28,486	28,534	28,435
Common Stock [Member]
Net earnings per share - basic:
Common Stock	$ 0.68	$ 0.38	$ 1.05	$ 0.73
Net earnings per share - diluted:
Common Stock	0.65	0.36	1	0.69
Class B Common Stock [Member]
Net earnings per share - basic:
Common Stock	0.62	0.34	0.95	0.66
Net earnings per share - diluted:
Common Stock	$ 0.61	$ 0.33	$ 0.93	$ 0.64

General (Details 2)

General (Details 2) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2018	Jun. 29, 2017	Jun. 28, 2018	Jun. 29, 2017
Total Shareholders' Equity Attributable to The Marcus Corporation
Beginning Balance			$ 445,024	$ 390,112
Net earnings attributable to The Marcus Corporation	$ 18,619	$ 10,124	28,440	19,577
Cash dividends			(8,158)	(6,741)
Exercise of stock options			2,104	1,241
Savings and profit sharing contribution			1,130	1,024
Treasury stock transactions, except for stock options			(664)	52
Share-based compensation			1,311	1,269
Cumulative effect of adopting ASU No. 2014-09, net of tax	(2,568)		(2,568)
Other comprehensive income, net of tax	344	53	314	93
Ending Balance	466,933	406,627	466,933	406,627
Noncontrolling Interests
Beginning Balance			100	1,535
Net earnings attributable to noncontrolling interests	93	1	78	(335)
Distributions to noncontrolling interests			(19)	0
Ending Balance	$ 159	$ 1,200	$ 159	$ 1,200

General (Details 3)

General (Details 3) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2018	Jun. 29, 2017	Jun. 28, 2018	Jun. 29, 2017
Service cost	$ 231	$ 191	$ 463	$ 382
Interest cost	341	339	682	678
Net amortization of prior service cost and actuarial loss	155	89	310	178
Net periodic pension cost	$ 727	$ 619	$ 1,455	$ 1,238

General (Details Textual)

General (Details Textual) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 28, 2018	Jun. 29, 2017	Jun. 28, 2018	Jun. 29, 2017	Dec. 28, 2017
Summary of Significant Accounting Policies [Line Items]
Depreciation	$ 14,445,000	$ 12,250,000	$ 28,481,000	$ 24,422,000
Percentage Of Cash Dividends			110.00%
Interest Rate Fair Value Hedge Asset at Fair Value	119,000		$ 119,000		$ 13,000
Trading Securities, Fair Value Disclosure	4,769,000		4,769,000		$ 4,053,000
Reimbursed Costs	$ 8,916,000	7,365,000	16,688,000	14,867,000
Net Cash Provided by (Used in) Investing Activities			$ (33,494,000)	(50,367,000)
Postemployment Benefits Reclassified Operating Income To Other Expense		$ 428,000		856,000
Accounting Standards Update 2016-18 [Member] | Scenario, Adjustment [Member]
Summary of Significant Accounting Policies [Line Items]
Net Cash Provided by (Used in) Investing Activities				$ 2,086,000

Revenue Recognition (Details)

Revenue Recognition (Details) - USD ($) $ in Thousands		3 Months Ended			6 Months Ended
		Jun. 28, 2018		Jun. 29, 2017	Jun. 28, 2018		Jun. 29, 2017
Theatre admissions		$ 69,607		$ 52,135	$ 132,613		$ 115,976
Rooms		29,118		29,125	49,789		50,059
Theatre concessions		46,798		35,179	88,211		76,075
Food and beverage		18,836		18,777	34,639		33,817
Other revenues		20,023	[1]	17,559	39,549	[1]	34,802
Cost reimbursements		8,916		7,365	16,688		14,867
Revenues	[2]	193,298		$ 160,140	361,489		$ 325,596
Theatres Segment [Member]
Theatre admissions		69,607			132,613
Rooms		0			0
Theatre concessions		46,798			88,211
Food and beverage		0			0
Other revenues	[1]	8,661			16,698
Cost reimbursements		387			866
Revenues		125,453			238,388
Hotels or Resorts [Member]
Theatre admissions		0			0
Rooms		29,118			49,789
Theatre concessions		0			0
Food and beverage		18,836			34,639
Other revenues	[1]	11,230			22,631
Cost reimbursements		8,529			15,822
Revenues		67,713			122,881
Corporate Segment [Member]
Theatre admissions		0			0
Rooms		0			0
Theatre concessions		0			0
Food and beverage		0			0
Other revenues	[1]	132			220
Cost reimbursements		0			0
Revenues		$ 132			$ 220
[1]	Included in other revenues is an immaterial amount related to rental income that is not considered contract revenue from contracts with customers under ASC No. 2014-09.
[2]	Revenues include cost reimbursements of $8,916 for the 13 weeks ended June 28, 2018 (Theatres - $387, Hotels/Resorts - $8,529); $7,365 for the 13 weeks ended June 29, 2017 (Theatres - $541, Hotels/Resorts - $6,824); $16,688 for the 26 weeks ended June 28, 2018 (Theatres - $866, Hotels/Resorts - $15,822); and $14,867 for the 26 weeks ended June 29, 2017 (Theatres - $1,159, Hotels/Resorts - $13,708).

Revenue Recognition (Details 1)

Revenue Recognition (Details 1) - USD ($) $ in Thousands	Jun. 28, 2018	Dec. 29, 2017	Dec. 28, 2017
Refundable income taxes	$ 3,400		$ 15,335
Other accrued liabilities	49,272		53,291
Deferred compensation and other	59,285		56,662
Retained earnings	420,910		$ 403,206
Accounting Standards Update 2014-09 [Member]
Refundable income taxes		$ 16,280
Other accrued liabilities		56,587
Deferred compensation and other		56,879
Retained earnings		400,638
Restatement Adjustment [Member]
Refundable income taxes	945	945
Other accrued liabilities	3,572	3,296
Deferred compensation and other	99	217
Retained earnings	$ (2,726)	$ (2,568)

Revenue Recognition (Details 2)

Revenue Recognition (Details 2) - USD ($) $ in Thousands		3 Months Ended			6 Months Ended
		Jun. 28, 2018		Jun. 29, 2017	Jun. 28, 2018		Jun. 29, 2017	Dec. 29, 2017	Dec. 28, 2017	Dec. 27, 2016
Revenues
Theatre admissions		$ 69,607		$ 52,135	$ 132,613		$ 115,976
Theatre concessions		46,798		35,179	88,211		76,075
Food and beverage		18,836		18,777	34,639		33,817
Other revenues		20,023	[1]	17,559	39,549	[1]	34,802
Revenues	[2]	193,298		160,140	361,489		325,596
Costs and expenses
Theatre operations		61,153		46,756	115,808		101,441
Theatre concessions		12,976		9,981	24,937		21,099
Advertising and marketing		6,025		6,022	11,139		11,584
Other operating expenses		9,307		7,612	18,063		15,955
Total costs and expenses		164,191		140,971	315,366		287,974
Operating income		29,107		19,169	46,123		37,622
Income taxes		6,207		5,951	9,628		11,663
Net earnings attributable to The Marcus Corporation		18,619		10,124	28,440		19,577
Balance Sheet
Refundable income taxes		3,400			3,400				$ 15,335
Total current assets		67,303			67,303				76,721
Total assets		1,002,226			1,002,226				1,017,797
Other accrued liabilities		49,272			49,272				53,291
Total current liabilities		137,472			137,472				159,683
Deferred compensation and other		59,285			59,285				56,662
Retained Earnings		420,910			420,910				403,206
Shareholders equity attributable to The Marcus Corporation		466,933		$ 406,627	466,933		$ 406,627		445,024	$ 390,112
Total equity		467,092			467,092				445,124
Total liabilities and shareholders equity		1,002,226			1,002,226				$ 1,017,797
Scenario, Previously Reported [Member]
Revenues
Theatre admissions	[3]	70,357			133,969
Theatre concessions	[3]	46,252			87,247
Food and beverage	[3]	18,795			34,619
Other revenues	[3]	18,605			36,844
Revenues	[3]	192,043			359,156
Costs and expenses
Theatre operations	[3]	60,993			115,494
Theatre concessions	[3]	12,805			24,627
Advertising and marketing	[3]	6,588			12,192
Other operating expenses	[3]	7,905			15,459
Total costs and expenses	[3]	163,021			313,191
Operating income	[3]	29,022			45,965
Income taxes	[3]	6,186			9,588
Net earnings attributable to The Marcus Corporation	[3]	18,555			28,322
Balance Sheet
Refundable income taxes	[3]	2,455			2,455
Total current assets	[3]	66,358			66,358
Total assets	[3]	1,001,281			1,001,281
Other accrued liabilities	[3]	45,700			45,700
Total current liabilities	[3]	133,900			133,900
Deferred compensation and other	[3]	59,186			59,186
Retained Earnings	[3]	423,636			423,636
Shareholders equity attributable to The Marcus Corporation	[3]	469,659			469,659
Total equity	[3]	469,818			469,818
Total liabilities and shareholders equity	[3]	1,001,281			1,001,281
Restatement Adjustment [Member]
Revenues
Theatre admissions		(750)			(1,356)
Theatre concessions		546			964
Food and beverage		41			20
Other revenues		1,418			2,705
Revenues		1,255			2,333
Costs and expenses
Theatre operations		160			314
Theatre concessions		171			310
Advertising and marketing		(563)			(1,053)
Other operating expenses		1,402			2,604
Total costs and expenses		1,170			2,175
Operating income		85			158
Income taxes		21			40
Net earnings attributable to The Marcus Corporation		64			118
Balance Sheet
Refundable income taxes		945			945			$ 945
Total current assets		945			945
Total assets		945			945
Other accrued liabilities		3,572			3,572			3,296
Total current liabilities		3,572			3,572
Deferred compensation and other		99			99			217
Retained Earnings		(2,726)			(2,726)			$ (2,568)
Shareholders equity attributable to The Marcus Corporation		(2,726)			(2,726)
Total equity		(2,726)			(2,726)
Total liabilities and shareholders equity		$ 945			$ 945
[1]	Included in other revenues is an immaterial amount related to rental income that is not considered contract revenue from contracts with customers under ASC No. 2014-09.
[2]	Revenues include cost reimbursements of $8,916 for the 13 weeks ended June 28, 2018 (Theatres - $387, Hotels/Resorts - $8,529); $7,365 for the 13 weeks ended June 29, 2017 (Theatres - $541, Hotels/Resorts - $6,824); $16,688 for the 26 weeks ended June 28, 2018 (Theatres - $866, Hotels/Resorts - $15,822); and $14,867 for the 26 weeks ended June 29, 2017 (Theatres - $1,159, Hotels/Resorts - $13,708).
[3]	The amounts reflect each affected financial statement line item as they would have been reported under US GAAP prior to the adoption of ASU No. 2014-09.

Revenue Recognition (Details Te

Revenue Recognition (Details Textual) - USD ($)	3 Months Ended	6 Months Ended
	Jun. 28, 2018	Jun. 28, 2018	Dec. 29, 2017	Dec. 28, 2017
Deferred Revenue	$ 31,826,000	$ 31,826,000	$ 36,007,000
Contract Revenue Reclassified From Deferred Revenue	4,788,000	14,989,000
Other Deferred Compensation Arrangements, Liability, Classified, Noncurrent	59,285,000	$ 59,285,000		$ 56,662,000
Redeemed Revenue from Advanced Tickets Sales Occured		1 year 3 months 18 days
Advanced Sale of Tickets [Member]
Revenue, Remaining Performance Obligation	4,513,000	$ 4,513,000
Revenue Performance Obligation [Member]
Other Deferred Compensation Arrangements, Liability, Classified, Noncurrent	79,000	79,000
Hotels or Resorts [Member]
Revenue, Remaining Performance Obligation	$ 198,000	$ 198,000
Revenue Reward Redemption Occured With in Period		2 years

Long-Term Debt and Capital Le26

Long-Term Debt and Capital Lease Obligations (Details Textual) - USD ($)	3 Months Ended	6 Months Ended
	Jun. 28, 2018	Jun. 28, 2018	Jun. 29, 2017	Mar. 01, 2018	Jan. 31, 2018	Dec. 28, 2017
Derivative, Amount of Hedged Item				$ 50,000,000	$ 25,000,000
Derivative Liability, Notional Amount	$ 25,000,000	$ 25,000,000
Term Of Licensing Agreement		10 years
Commitment Minimum Lease Payments		$ 6,163,000
Repayments of Long-term Capital Lease Obligations		901,000	$ 516,000
Obligation To Be Reduced In Next 12 Months	5,312,000	5,312,000
Interest Rate Fair Value Hedge Asset at Fair Value	119,000	119,000				$ 13,000
Digital Systems [Member]
Capital Leases, Balance Sheet, Assets by Major Class, Net	45,510,000	45,510,000				45,510,000
Finite-Lived Intangible Assets, Accumulated Amortization	37,559,000	37,559,000				34,471,000
Furniture and Fixtures [Member]
Capital Leases, Balance Sheet, Assets by Major Class, Net	377,000	377,000				255,000
Capital Leased Assets, Gross	1,712,000	1,712,000				1,712,000
Building and Building Improvements [Member]
Capital Leases, Balance Sheet, Assets by Major Class, Net	3,204,000	3,204,000				2,300,000
Capital Leased Assets, Gross	25,648,000	25,648,000				$ 25,648,000
Furniture and Fixtures AND Building and Building Improvements [Member]
Repayments of Long-term Capital Lease Obligations	$ 808,000	$ 1,616,000
Unsecured Senior Notes [Member]
Debt Instrument, Face Amount			$ 50,000,000
Debt Instrument, Interest Rate, Stated Percentage			4.32%
Interest Rate Swap [Member]
Derivative, Fixed Interest Rate				2.559%	0.96%
Derivative, Variable Interest Rate	2.00%	2.00%
Decrease In Interest Expense		$ 13,000
Derivative, Description of Variable Rate Basis		one-month LIBOR 2.000%
Mortgage Notes [Member]
Debt Instrument, Face Amount			$ 15,000,000
Debt Instrument, Interest Rate, Basis for Effective Rate			LIBOR plus 2.75%
Debt Instrument, Interest Rate, Effective Percentage			3.81%
Repayments of Notes Payable			$ 24,226,000
First Interest Rate Swap [Member]
Derivative, Fixed Interest Rate	2.687%	2.687%
Derivative Liability, Notional Amount				$ 25,000,000
Derivative, Description of Variable Rate Basis		one-month LIBOR 2.000%
Derivative, Basis Spread on Variable Rate	2.00%	2.00%

Income Taxes (Details Textual)

Income Taxes (Details Textual)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 28, 2018	Jun. 29, 2017	Jun. 28, 2018	Jun. 29, 2017	Dec. 28, 2017
Income Taxes [Line Items]
Effective Income Tax Rate	25.00%	37.00%	25.30%	37.30%
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent			21.00%		35.00%

Business Segment Information (D

Business Segment Information (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 28, 2018	Jun. 29, 2017	Jun. 28, 2018	Jun. 29, 2017
Segment Reporting Information [Line Items]
Revenues	[1]	$ 193,298	$ 160,140	$ 361,489	$ 325,596
Operating income (loss)		29,107	19,169	46,123	37,622
Depreciation and amortization		14,426	12,303	28,330	24,551
Theatres [Member]
Segment Reporting Information [Line Items]
Revenues	[1]	125,453	94,357	238,388	206,363
Operating income (loss)		27,877	17,992	51,860	42,715
Depreciation and amortization		9,656	7,808	18,884	15,601
Hotels/Resorts [Member]
Segment Reporting Information [Line Items]
Revenues	[1]	67,713	65,611	122,881	118,951
Operating income (loss)		6,362	5,819	3,713	3,144
Depreciation and amortization		4,684	4,401	9,274	8,758
Corporate Items [Member]
Segment Reporting Information [Line Items]
Revenues	[1]	132	172	220	282
Operating income (loss)		(5,132)	(4,642)	(9,450)	(8,237)
Depreciation and amortization		$ 86	$ 94	$ 172	$ 192
[1]	Revenues include cost reimbursements of $8,916 for the 13 weeks ended June 28, 2018 (Theatres - $387, Hotels/Resorts - $8,529); $7,365 for the 13 weeks ended June 29, 2017 (Theatres - $541, Hotels/Resorts - $6,824); $16,688 for the 26 weeks ended June 28, 2018 (Theatres - $866, Hotels/Resorts - $15,822); and $14,867 for the 26 weeks ended June 29, 2017 (Theatres - $1,159, Hotels/Resorts - $13,708).

Business Segment Information 29

Business Segment Information (Details Textual) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2018	Jun. 29, 2017	Jun. 28, 2018	Jun. 29, 2017
Reimbursement Revenue	$ 8,916	$ 7,365	$ 16,688	$ 14,867
Theatres [Member]
Reimbursement Revenue	387	541	866	1,159
Hotels Resorts [Member]
Reimbursement Revenue	$ 8,529	$ 6,824	$ 15,822	$ 13,708