IMAX (IMAX) 10-Q 28 Apr 22 2022 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	3 Months Ended
	Mar. 31, 2022shares
Document Information [Line Items]
Entity Registrant Name	IMAX Corporation
Entity Central Index Key	0000921582
Document Type	10-Q
Document Period End Date	Mar. 31, 2022
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock Shares Outstanding	58,750,922
Document Quarterly Report	true
Document Transition Report	false
Entity Incorporation, State or Country Code	Z4
Title of 12(b) Security	Common Shares, no par value
Trading Symbol	IMAX
Security Exchange Name	NYSE
Entity File Number	001-35066
Entity Tax Identification Number	98-0140269
Entity Address, Address Line One	2525 Speakman Drive
Entity Address, City or Town	Mississauga
Entity Address, State or Province	ON
Entity Address, Country	CA
Entity Address, Postal Zip Code	L5K 1B1
City Area Code	(905)
Local Phone Number	403-6500
Other Address [Member]
Document Information [Line Items]
Entity Address, Address Line One	902 Broadway, Floor 20
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Country	US
Entity Address, Postal Zip Code	10010
City Area Code	(212)
Local Phone Number	821-0100

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Assets
Cash and cash equivalents	$ 162,300	$ 189,711
Accounts receivable, net of allowance for credit losses	110,478	110,050
Financing receivables, net of allowance for credit losses	131,510	141,049
Variable consideration receivables, net of allowance for credit losses	44,032	44,218
Inventories	27,332	26,924
Prepaid expenses	13,628	11,802
Film assets, net of accumulated amortization	5,518	4,241
Property, plant and equipment, net of accumulated depreciation	258,971	260,353
Investment in equity securities	1,092	1,087
Other assets	22,115	17,799
Deferred income tax assets, net of valuation allowance	13,935	13,906
Goodwill	39,027	39,027
Other intangible assets, net of accumulated amortization	22,110	23,080
Total assets	852,048	883,247
Liabilities
Accounts payable	18,220	15,943
Accrued and other liabilities	96,551	111,896
Deferred revenue	80,463	81,281
Revolving credit facility borrowings, net of unamortized debt issuance costs	1,080	2,472
Convertible notes, net of unamortized discounts and debt issuance costs	224,010	223,641
Deferred income tax liabilities	17,642	17,642
Total liabilities	437,966	452,875
Commitments and contingencies (see Note 8)
Non-controlling interests
Non-controlling interests	761	758
Shareholders' equity
Capital stock common shares - no par value. Authorized - unlimited number. 58,750,922 issued and outstanding (December 31, 2021 - 58,653,642 issued and outstanding)	415,362	409,979
Other equity	167,912	174,620
Statutory surplus reserve	3,932	3,932
Accumulated deficit	(251,194)	(234,975)
Accumulated other comprehensive income	3,228	2,527
Total shareholders' equity attributable to common shareholders	339,240	356,083
Non-controlling interests	74,081	73,531
Total shareholders' equity	413,321	429,614
Total liabilities and shareholders' equity	$ 852,048	$ 883,247

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2022	Dec. 31, 2021
Shareholders' equity
Common stock, par value
Common stock, shares issued	58,750,922	58,653,642
Common stock, shares outstanding	58,750,922	58,653,642

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Revenues
Revenues, total	$ 60,036	$ 38,754
Costs and expenses applicable to revenues
Cost and expenses applicable to revenues, total	28,265	21,473
Gross margin	31,771	17,281
Selling, general and administrative expenses	30,181	25,209
Research and development	1,196	1,471
Amortization of intangible assets	1,197	1,141
Credit loss expense, net	7,229	305
Loss from operations	(8,032)	(10,845)
Realized and unrealized investment gains	34	5,248
Retirement benefits non-service expense	(139)	(114)
Interest income	502	583
Interest expense	(1,705)	(2,304)
Loss before taxes	(9,340)	(7,432)
Income tax expense	(2,610)	(3,068)
Net loss	(11,950)	(10,500)
Less: Net income attributable to non-controlling interests	(1,659)	(4,340)
Net loss attributable to common shareholders	$ (13,609)	$ (14,840)
Net loss per share attributable to common shareholders - basic and diluted:
Net loss per share — basic and diluted	$ (0.23)	$ (0.25)
Technology Sales [Member]
Revenues
Revenues, total	$ 8,976	$ 6,175
Costs and expenses applicable to revenues
Cost and expenses applicable to revenues, total	5,985	5,053
Image Enhancement and Maintenance Services [Member]
Revenues
Revenues, total	36,094	21,615
Costs and expenses applicable to revenues
Cost and expenses applicable to revenues, total	15,743	9,764
Technology Rentals [Member]
Revenues
Revenues, total	12,661	8,359
Costs and expenses applicable to revenues
Cost and expenses applicable to revenues, total	6,537	6,656
Finance Income [Member]
Revenues
Revenues, total	$ 2,305	$ 2,605

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Statement Of Income And Comprehensive Income [Abstract]
Net loss	$ (11,950)	$ (10,500)
Other comprehensive income (loss), before tax
Unrealized net gain from cash flow hedging instruments	315	295
Realized net loss (gain) from cash flow hedging instruments	29	(231)
Reclassification of unrealized gain from ineffective cash flow hedging instruments	0	(22)
Foreign currency translation adjustments	580	(2,166)
Defined benefit and postretirement benefit plans	46	48
Total other comprehensive income (loss), before tax	970	(2,076)
Income tax expense related to other comprehensive income (loss)	(102)	(24)
Other comprehensive income (loss), net of tax	868	(2,100)
Comprehensive loss	(11,082)	(12,600)
Comprehensive income attributable to non-controlling interests	(1,826)	(3,687)
Comprehensive loss attributable to common shareholders	$ (12,908)	$ (16,287)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Operating Activities
Net loss	$ (11,950)	$ (10,500)
Adjustments to reconcile net loss to cash used in operating activities:
Depreciation and amortization	12,741	12,678
Amortization of deferred financing costs	1,023	308
Credit loss expense, net	7,229	305
Write-downs	381	213
Deferred income tax (benefit) expense	(109)	158
Share-based and other non-cash compensation	6,189	5,421
Unrealized foreign currency exchange loss	58	113
Realized and unrealized investment gains	(34)	(5,248)
Changes in assets and liabilities:
Accounts receivable	(2,654)	(13,744)
Inventories	(534)	437
Film assets	(5,107)	(2,213)
Deferred revenue	(830)	5,276
Changes in other operating assets and liabilities	(10,186)	(4,155)
Net cash used in operating activities	(3,783)	(10,951)
Investing Activities
Purchase of property, plant and equipment	(728)	(466)
Investment in equipment for joint revenue sharing arrangements	(4,587)	(1,540)
interest in film classified as a financial instrument	(4,731)
Acquisition of other intangible assets	(551)	(1,507)
Proceeds from sale of equity securities		17,769
Net cash (used in) provided by investing activities	(10,597)	14,256
Financing Activities
Proceeds from issuance of convertible notes, net		223,675
Purchase of capped calls related to convertible notes		(19,067)
Repayments of revolving credit facility borrowings		(255,000)
Credit facility amendment fees paid	(1,783)	(32)
Taxes withheld and paid on employee stock awards vested	(3,136)	(3,045)
Common shares issued - stock options exercised		824
Net cash used in financing activities	(13,035)	(52,645)
Effects of exchange rate changes on cash and cash equivalents	4	(245)
Decrease in cash and cash equivalents during period	(27,411)	(49,585)
Cash and cash equivalents, beginning of period	189,711	317,379
Cash and cash equivalents, end of period	162,300	$ 267,794
IMAX Corporation
Financing Activities
Repurchase of common shares	(6,272)
IMAX China
Financing Activities
Repurchase of common shares	$ (1,844)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Shareholders' Equity (Unaudited) - USD ($) $ in Thousands	Total	Capital Stock [Member]	Other Equity [Member]	Accumulated Deficit [Member]	Accumulated Other Comprehensive (Loss) Income [Member]	Non-controlling Interests [Member]	Statutory Surplus Reserve [Member]
Balance, beginning of period at Dec. 31, 2020		$ 407,020	$ 188,845	$ (202,849)	$ 988
Movement of Shareholders' Equity
Employee stock options exercised, net of shares withheld for employee tax obligations		824
Amortization of share-based payment expense - stock options			391
Amortization of share-based payment expense - restricted share units			3,486
Amortization of share-based payment expense - performance stock units			1,087
Restricted share units vested		6,885	(10,318)
Purchase of capped calls related to convertible notes			(19,067)
Grant date fair value of stock options exercised		253	(253)
Net loss attributable to common shareholders	$ (14,840)			(14,840)
Other comprehensive income (loss), net of tax	(2,100)				(1,447)
Balance, end of period at Mar. 31, 2021		414,982	164,171	(217,689)	(459)
Balance, beginning of period at Dec. 31, 2020						$ 70,004
Movement of Shareholders' Equity
Net income (loss) attributable to non-controlling interests	4,340					4,349
Other comprehensive income (loss), net of tax						(653)
Share-based compensation attributable to non-controlling interests						(3)
Balance, end of period at Mar. 31, 2021						73,697
Movement of Shareholders' Equity
Total shareholders' equity	434,702
Total shareholders' equity	429,614
Balance, beginning of period at Dec. 31, 2021	356,083	409,979	174,620	(234,975)	2,527		$ 3,932
Movement of Shareholders' Equity
Amortization of share-based payment expense - stock options			231
Amortization of share-based payment expense - restricted share units			4,350
Amortization of share-based payment expense - performance stock units			1,854
Restricted share units vested		9,045	(12,600)
Common shares repurchased and retired		(3,662)		(2,610)
Change in ownership interest related to IMAX China common share repurchases			(543)			(1,301)
Net loss attributable to common shareholders	(13,609)			(13,609)
Other comprehensive income (loss), net of tax	868				701
Balance, end of period at Mar. 31, 2022	339,240	$ 415,362	$ 167,912	$ (251,194)	$ 3,228		$ 3,932
Balance, beginning of period at Dec. 31, 2021	73,531					73,531
Movement of Shareholders' Equity
Net income (loss) attributable to non-controlling interests	1,659					1,656
Other comprehensive income (loss), net of tax						167
Share-based compensation attributable to non-controlling interests						28
Balance, end of period at Mar. 31, 2022	74,081					$ 74,081
Movement of Shareholders' Equity
Total shareholders' equity	$ 413,321

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2022
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Basis of Presentation	1. Basis of Presentation Accounting Principles IMAX Corporation, together with its consolidated subsidiaries (the “Company”), prepares its financial statements in accordance with United States Generally Accepted Accounting Principles (“U.S. GAAP”) and pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted from this report, as is permitted by such rules and regulations. In the Company’s opinion, the unaudited Condensed Consolidated Financial Statements reflect all adjustments of a normal recurring nature that are necessary for a fair statement of the results for the interim periods presented. The Condensed Consolidated Balance Sheet at December 31, 2021 was derived from the Company’s audited annual Consolidated Financial Statements, but does not contain all of the footnote disclosures included in the annual financial statements. The interim results presented in the Company’s Condensed Consolidated Statements of Operations are not necessarily indicative of results for a full year. These Condensed Consolidated Financial Statements should be read in conjunction with the audited Consolidated Financial Statements included in the Company’s 2021 Annual Report on Form 10-K (the “2021 Form 10-K”), which should be consulted for a summary of the significant accounting policies utilized by the Company. The Condensed Consolidated Financial Statements are prepared following the same accounting policies disclosed in the 2021 Form 10-K. Revision of prior period amounts and other reclassifications In the Condensed Consolidated Statements of Shareholders’ Equity, the Company revised the March 31, 2021 balances of Total Shareholders’ Equity Attributable to Common Shareholders and Non-Controlling Interests. The revisions were principally made to properly reflect changes in the Company’s ownership interest in IMAX China Holding, Inc. ("IMAX China") as a result of common share repurchases made by IMAX China and the amortization of share-based compensation related to IMAX China. The revisions resulted in a reclassification of $ 8.5 million between the balances of Other Equity and Non-Controlling Interests as of March 31, 2021. There is no change in Total Shareholders’ Equity as a result of the revisions. (See Note 3(a) of Notes to Consolidated Financial Statements in Part II, Item 8 of the Company's 2021 Form 10-K). Principles of Consolidation These Condensed Consolidated Financial Statements include the accounts of the Company together with its consolidated subsidiaries, except for subsidiaries which have been identified as variable interest entities (“VIEs”) where the Company is not the primary beneficiary. All intercompany accounts and transactions have been eliminated. The Company has evaluated its various variable interests to determine whether they are VIEs as required by U.S. GAAP. The Company has interests in ten film production companies, which have been identified as VIEs. The Company is the primary beneficiary of and consolidates five of these entities as it has the power to direct the activities that most significantly impact the economic performance of the VIE, and it has the obligation to absorb losses or the right to receive benefits from the respective VIE that could potentially be significant. The majority of the assets relating to these production companies are held by the IMAX Original Film Fund (the “Original Film Fund”) as described in Note 17(b). The Company does not consolidate the other five film production companies because it does not have the power to direct their activities and it does not have the obligation to absorb the majority of the expected losses or the right to receive expected residual returns. The Company uses the equity method of accounting for these entities, which are not material to the Company’s Condensed Consolidated Financial Statements. A loss in the value of an equity method investment that is other than temporary is recognized as a charge in the Condensed Consolidated Statement of Operations. As of March 31, 2022, total assets and liabilities of the Company’s consolidated VIEs are as follows: March 31, December 31, (In thousands of U.S. Dollars) 2022 2021 Total assets $ 1,581 $ 1,576 Total liabilities $ 257 $ 259 Estimates and Assumptions In preparing the Company’s Condensed Consolidated Financial Statements, management makes judgments in applying various accounting policies. The areas of policy judgment are consistent with those reported in Note 3(c) of the Company's audited Consolidated Financial Statements included in its 2021 Form 10-K. In addition, management makes assumptions about the Company’s future operating results and cash flows in deriving critical accounting estimates used in preparing the Condensed Consolidated Financial Statements. The significant estimates made by management include, but are not limited to: (i) the allocation of the transaction price in an IMAX Theater System arrangement to distinct performance obligations; (ii) the amount of variable consideration to be earned on sales of IMAX Theater Systems based on projections of future box office performance ; (iii) expected credit losses on accounts receivable, financing receivables, and variable consideration receivables; (iv) provisions for the write-down of excess and obsolete inventory; (v) the fair values of the reporting units used in assessing the recoverability of goodwill; (vi) the cash flow projections used in testing the recoverability of long-lived assets such as the theater system equipment supporting joint revenue sharing arrangements ; (vii) the economic lives of the theater system equipment supporting joint revenue sharing arrangements; (viii) the useful lives of intangible assets; (ix) the ultimate revenue forecasts used to test the recoverability of film assets ; (x) the discount rates used to determine the present value of financing receivables and lease liabilities, as well as to determine the fair values of the Company’s reporting units for the purpose of assessing the recoverability of goodwill ; (xi) pension plan assumptions; (xii) estimates related to the fair value and projected vesting of share-based payment awards; (xiii) the valuation of deferred income tax assets; and (xiv) reserves related to uncertain tax positions. The impact of the COVID-19 pandemic is complex and continuously evolving, resulting in significant disruption to the Company’s business and the global economy, as described in Note 2. Although management is encouraged by the broad reopening of the IMAX theater network, the continued progress towards the resumption of normal theater operations, normal film release schedules, and recent box office results, there continues to be risk and uncertainty relating to the judgments, assumptions, and estimates used by management in preparing the Company’s Condensed Consolidated Financial Statements. In response to the ongoing conflict between Russia and Ukraine, Canada, the United States, and other countries in which the Company operates have imposed broad sanctions and other restrictive actions against governmental and other entities in Russia, which in turn have and may continue to have an adverse impact on the Company’s business and results of operations in affected regions. Additionally, given the global nature of the Company’s operations, any protracted conflict or the broader macroeconomic impact of the Russia-Ukraine conflict and sanctions imposed on Russia could have an adverse impact on the Company’s business, results of operations, and financial condition. As of March 31, 2022, the current IMAX network includes 54 theaters in Russia, 9 theaters in Ukraine, and 1 theater in Belarus, and the Company's backlog includes 14 theaters in Russia, 1 theater in Ukraine, and 7 theaters in Belarus with a total value of $ 25.6 million. As a result of the ongoing conflict between Russia and Ukraine, there is risk and uncertainty relating to the judgments, assumptions, and estimates used by management in preparing the Company’s Condensed Consolidated Financial Statements, including estimates related to expected credit losses on accounts receivables, financing receivables and variable consideration receivables, as discussed in Note 4. In the first quarter of 2022, the Company recorded provisions for potential credit losses against its receivables in Russia due to uncertainties associated with the ongoing conflict. These receivables relate to existing sale agreements. The Company is not party to any joint revenue sharing arrangements in these countries. In addition, exhibitors in Russia, Ukraine, and Belarus were placed on nonaccrual status for maintenance revenue and finance income in the first quarter of 2022. The Company continues to monitor the evolving impacts of this conflict and its effects on the global economy and the Company.

Impact of COVID-19 Pandemic

Impact of COVID-19 Pandemic	3 Months Ended
	Mar. 31, 2022
Impact Of Coronavirus Nineteen Pandemic [Abstract]
Impact of COVID-19 Pandemic	2. Impact of COVID-19 Pandemic The impact of the COVID-19 pandemic is complex and continuously evolving, resulting in significant disruption to the Company’s business and the global economy. At various points during the pandemic, authorities around the world imposed measures intended to control the spread of COVID-19, including stay-at-home orders and restrictions on large public gatherings, which caused movie theaters in countries around the world to temporarily close, including the IMAX theaters in those countries. As a result of these theater closures, movie studios postponed the theatrical release of most films originally scheduled for release in 2020 and early 2021, including many of the films scheduled to be shown in IMAX theaters, while several other films were released directly or concurrently to streaming platforms. Beginning in the third quarter of 2020, stay-at-home orders and capacity restrictions were lifted in many key markets and movie theaters throughout the IMAX network gradually reopened. However, following the emergence of the Omicron variant and the rise of COVID-19 cases in China in the first quarter of 2022, the Chinese government reinstituted capacity restrictions and safety protocols on large public gatherings, leading to the temporary closure of theaters in several cities. As of April 26, 2022, approximately 65 % of the theaters in Greater China were open at various capacities, up from 52 % as of March 31, 2022. The impact of the COVID-19 pandemic on the Company’s business and financial results will continue to depend on numerous evolving factors that cannot be accurately predicted and that will vary by jurisdiction and market, including the duration and scope of the pandemic, the emergence of new and the spread of existing variants of the virus, the progress made on administering vaccines and developing treatments and the effectiveness of such vaccines and treatments, the continuing impact of the pandemic on global economic conditions and ongoing government responses to the pandemic, which could lead to further theater closures, theater capacity restrictions and/or delays in the release of films.

Recently Issued Accounting Stan

Recently Issued Accounting Standards	3 Months Ended
	Mar. 31, 2022
Accounting Changes And Error Corrections [Abstract]
Recently Issued Accounting Standards	3. Recently Issued Accounting Standards In March 2020, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2020-04, “Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting” (“ASU 2020-04”). The purpose of ASU 2020-04 is to provide optional expedients and exceptions for applying U.S. GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. ASU 2020-04 is effective for all entities from the beginning of an interim period that includes the issuance date of the ASU. An entity may elect to apply ASU 2020-04 prospectively through December 31, 2022. As of March 31, 2022, the Company is not party to any contracts that reference the London Interbank Offered Rate (LIBOR). Accordingly, the Company does not expect ASU 2020-04 to have a material effect on its Condensed Consolidated Financial Statements. In November 2021, the FASB issued ASU No. 2021-10, “2021-10: Government Assistance (Topic 832): Disclosures by Business Entities about Government Assistance” (“ASU 2021-10”). ASU 2021-10 requires annual disclosures about transactions with a government that are accounted for by applying a grant or contribution accounting model by analogy. ASU 2021-10 is effective for annual periods beginning after December 15, 2021. Early adoption is permitted. The Company will adopt ASU 2021-10 for the year ending December 31, 2022 and will provide the required disclosures, if material. In March 2022, the FASB issued ASU No. 2022-02, "2022-02: Financial Instruments—Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures" ("ASU 2022-02"). ASU 2022-02 requires that an entity disclose current-period gross write-offs by year of origination for financing receivables and net investments in leases. ASU 2022-02 is effective for annual periods beginning after December 15, 2022, including interim periods within those periods. Early adoption is permitted. The Company will adopt ASU 2022-02 in the first quarter of 2023 and will provide the required disclosures, if material. The Company considers the applicability and impact of all FASB ASUs that are recently issued, but not yet effective. ASUs that are not noted above were assessed and determined to be not applicable or not significant to the Company’s Condensed Consolidated Financial Statements for the period ended March 31, 2022 .

Receivables

Receivables	3 Months Ended
	Mar. 31, 2022
Receivables [Abstract]
Receivables	4. Receivables The ability of the Company to collect its receivables is dependent on the viability and solvency of individual theater operators which is significantly influenced by consumer behavior and general economic conditions. Theater operators, or other customers, may experience financial difficulties that could result in their being unable to fulfill their payment obligations to the Company. In order to mitigate the credit risk associated with its receivables, management performs an initial credit evaluation prior to entering into an arrangement with a customer and then regularly monitors the credit quality of each customer through an analysis of collections history and aging. This monitoring process includes meetings on at least a monthly basis to identify credit concerns and potential changes in credit quality classification. A customer may improve their credit quality classification once a substantial payment is made on an overdue balance or when the customer has agreed to a payment plan and payments have commenced in accordance with that plan. Changes in credit quality classification are dependent upon management approval. The Company’s internal credit quality classifications for theater operators are as follows: • Good Standing — The theater operator continues to be in good standing as payments and reporting are received on a regular basis. • Credit Watch — The theater operator has demonstrated a delay in payments, but continues to be in active communication with the Company. Theater operators placed on Credit Watch are subject to enhanced monitoring. In addition, depending on the size of the outstanding balance, length of time in arrears, and other factors, future transactions may need to be approved by management. These receivables are in better condition than those in the Pre-Approved Transactions Only category, but are not in as good condition as the receivables in the Good Standing category. • Pre-Approved Transactions Only — The theater operator has demonstrated a delay in payments with little or no communication with the Company. All services and shipments to the theater operator must be reviewed and approved by management. These receivables are in better condition than those in the All Transactions Suspended category, but are not in as good condition as the receivables in the Credit Watch category. In certain situations, a theater operator may be placed on nonaccrual status and all revenue recognition related to the theater may be suspended, including the accretion of Finance Income for Financing Receivables. • All Transactions Suspended — The theater operator is severely delinquent, non-responsive or not negotiating in good faith with the Company. Once a theater operator is classified within the All Transactions Suspended category, the theater is placed on nonaccrual status and all revenue recognitions related to the theater are suspended, including the accretion of Finance Income for Financing Receivables. During the period when the accretion of Finance Income is suspended for Financing Receivables, any payments received from a customer are applied against the outstanding balance owed. If payments are sufficient to cover any unreserved receivables, a reversal of the provision is recorded to the extent of the residual cash received. Once the collectability issues are resolved and the customer has returned to being in good standing, the Company will resume recognition of Finance Income. When a customer’s aging exceeds 90 days, the Company’s policy is to perform an enhanced review to assess collectability of the theater’s past due accounts. The over 90 days past due category may be an indicator of potential impairment as up to 90 days outstanding is considered to be a reasonable time to resolve any issues. The Company develops an estimate of expected credit losses by class of receivable and customer type through a calculation that utilizes historical loss rates which are then adjusted for specific receivables that are judged to have a higher-than-normal risk profile after considering management’s internal credit quality classifications. Additional credit loss provisions are also recorded taking into account macro-economic and industry risk factors. The write-off of any billed receivable balance requires the approval of management. Management’s judgments regarding expected credit losses are based on the facts available to management and involve estimates about the future. Due to the unprecedented nature of the COVID-19 pandemic, its effect on the Company’s customers and their ability to meet their financial obligations to the Company is difficult to predict. As a result, the Company’s judgments and associated estimates of credit losses may ultimately prove, with the benefit of hindsight, to be incorrect (see Note 2). Accounts Receivable Accounts receivable principally includes amounts currently due to the Company under theater sale and sales-type lease arrangements, contingent fees owed by theater operators as a result of box office performance, and fees for theater maintenance services. Accounts receivable also includes amounts due to the Company from movie studios and other content creators principally for digitally remastering films into IMAX formats, as well as for film distribution and post-production services. The following tables summarize the activity in the allowance for credit losses related to Accounts Receivable for the three months ended March 31, 2022 and 2021: Three Months Ended March 31, 2022 (In thousands of U.S. Dollars) Theater Studios Other Total Beginning balance $ 8,867 $ 1,994 $ 1,085 $ 11,946 Current period provision, net 1,981 3 273 2,257 Write-offs — — — — Foreign exchange ( 17 ) ( 2 ) — ( 19 ) Ending balance $ 10,831 $ 1,995 $ 1,358 $ 14,184 Three Months Ended March 31, 2021 (In thousands of U.S. Dollars) Theater Studios Other Total Beginning balance $ 8,368 $ 4,481 $ 1,446 $ 14,295 Current period provision (reversal), net 599 ( 499 ) ( 249 ) ( 149 ) Write-offs ( 170 ) ( 149 ) — ( 319 ) Foreign exchange ( 14 ) ( 62 ) ( 9 ) ( 85 ) Ending balance $ 8,783 $ 3,771 $ 1,188 $ 13,742 For the three months ended March 31, 2022 , the Company’s allowance for current expected credit losses related to Accounts Receivable increased by $ 2.2 million principally due to reserves established against its receivables in Russia due to uncertainties associated with the ongoing Russia-Ukraine conflict, partially offset by the reversal of provisions associated with the COVID-19 pandemic as the outlook for the theatrical exhibition industry in Domestic and Rest of World markets continues to improve. For the three months ended March 31, 2021 , the Company’s allowance for current expected credit losses related to Accounts Receivable decreased by $ 0.6 million principally as a result of the write-off of certain receivable balances ($ 0.3 million) and a net provision reversal ($ 0.1 million) due to better than expected collection experience with respect to foreign movie studios, partially offset by an increase in the provision associated with a higher level of accounts receivable in the period. Financing Receivables Financing receivables are due from theater operators and consist of the Company’s net investment in sales-type leases and receivables associated with financed sales of IMAX Theater Systems. As of March 31, 2022 and December 31, 2021, financing receivables consist of the following: March 31, December 31, (In thousands of U.S. Dollars) 2022 2021 Net investment in leases Gross minimum payments due under sales-type leases $ 29,259 $ 29,953 Unearned finance income ( 703 ) ( 763 ) Present value of minimum payments due under sales-type leases 28,556 29,190 Allowance for credit losses ( 706 ) ( 798 ) Net investment in leases 27,850 28,392 Financed sales receivables Gross minimum payments due under financed sales 147,319 152,315 Unearned finance income ( 32,524 ) ( 34,244 ) Present value of minimum payments due under financed sales 114,795 118,071 Allowance for credit losses ( 11,135 ) ( 5,414 ) Net financed sales receivables 103,660 112,657 Total financing receivables $ 131,510 $ 141,049 Net financed sales receivables due within one year $ 27,863 $ 29,115 Net financed sales receivables due after one year 75,797 83,542 Total financed sales receivables $ 103,660 $ 112,657 As of March 31, 2022 and December 31, 2021, the weighted-average remaining lease term and weighted-average interest rate associated with the Company’s sales-type lease arrangements and financed sale receivables, as applicable, are as follows: March 31, December 31, 2022 2021 Weighted-average remaining lease term (in years) Sales-type lease arrangements 9.4 9.6 Weighted-average interest rate Sales-type lease arrangements 6.60 % 6.56 % Financed sales receivables 8.80 % 8.79 % The tables below provide information on the Company’s net investment in leases by credit quality indicator as of March 31, 2022 and December 31, 2021. The amounts disclosed for each credit quality classification are determined on a customer-by-customer basis and include both billed and unbilled amounts. (In thousands of U.S. Dollars) By Origination Year As of March 31, 2022 2022 2021 2020 2019 2018 Prior Total Net investment in leases: Credit quality classification: In good standing $ — $ 11,040 $ 3,815 $ 7,989 $ 2,429 $ 2,412 $ 27,685 Credit Watch — — — — — — — Pre-approved transactions — — — — — — — Transactions suspended — — — — — 871 871 Total net investment in leases $ — $ 11,040 $ 3,815 $ 7,989 $ 2,429 $ 3,283 $ 28,556 (In thousands of U.S. Dollars) By Origination Year As of December 31, 2021 2021 2020 2019 2018 2017 Prior Total Net investment in leases: Credit quality classification: In good standing $ 11,030 $ 3,991 $ 7,973 $ 2,574 $ 823 $ 1,928 $ 28,319 Credit Watch — — — — — — — Pre-approved transactions — — — — — — — Transactions suspended — — — — — 871 871 Total net investment in leases $ 11,030 $ 3,991 $ 7,973 $ 2,574 $ 823 $ 2,799 $ 29,190 The tables below provide information on the Company’s financed sale receivables by credit quality indicator as of March 31, 2022 and December 31, 2021. The amounts disclosed for each credit quality classification are determined on a customer-by-customer basis and include both billed and unbilled amounts. (In thousands of U.S. Dollars) By Origination Year As of March 31, 2022 2022 2021 2020 2019 2018 Prior Total Financed sales receivables: Credit quality classification: In good standing $ 1,383 $ 11,956 $ 8,011 $ 8,949 $ 12,187 $ 49,247 $ 91,733 Credit Watch — — — — — 2,086 2,086 Pre-approved transactions — — — 1,213 428 6,830 8,471 Transactions suspended — 302 143 1,321 961 9,778 12,505 Total financed sales receivables $ 1,383 $ 12,258 $ 8,154 $ 11,483 $ 13,576 $ 67,941 $ 114,795 (In thousands of U.S. Dollars) By Origination Year As of December 31, 2021 2021 2020 2019 2018 2017 Prior Total Financed sales receivables: Credit quality classification: In good standing $ 12,520 $ 8,251 $ 10,593 $ 13,278 $ 12,615 $ 47,950 $ 105,207 Credit Watch — — — — 321 1,292 1,613 Pre-approved transactions — — 743 418 2,098 3,650 6,909 Transactions suspended — — 335 — 680 3,327 4,342 Total financed sales receivables $ 12,520 $ 8,251 $ 11,671 $ 13,696 $ 15,714 $ 56,219 $ 118,071 The balance of financed sale receivables classified within the Transactions Suspended category as of March 31, 2022 includes amounts due from exhibitors in Russia, Ukraine, and Belarus which were reclassified from other credit quality classifications in the first quarter of 2022 as a result of the ongoing Russia-Ukraine conflict. The following tables provide an aging analysis for the Company’s net investment in leases and financed sale receivables as of March 31, 2022 and December 31, 2021: As of March 31, 2022 (In thousands of U.S. Dollars) Accrued 30-89 90+ Billed Unbilled Recorded Allowance Net Net investment in leases $ 248 $ 364 $ 1,112 $ 1,724 $ 26,832 $ 28,556 $ ( 706 ) $ 27,850 Financed sales receivables 1,256 2,438 6,842 10,536 104,259 114,795 ( 11,135 ) 103,660 Total $ 1,504 $ 2,802 $ 7,954 $ 12,260 $ 131,091 $ 143,351 $ ( 11,841 ) $ 131,510 As of December 31, 2021 (In thousands of U.S. Dollars) Accrued 30-89 90+ Billed Unbilled Recorded Allowance Net Net investment in leases $ 225 $ 156 $ 1,267 $ 1,648 $ 27,542 $ 29,190 $ ( 798 ) $ 28,392 Financed sales receivables 1,750 989 8,378 11,117 106,954 118,071 ( 5,414 ) 112,657 Total $ 1,975 $ 1,145 $ 9,645 $ 12,765 $ 134,496 $ 147,261 $ ( 6,212 ) $ 141,049 The following tables provide information about the Company’s net investment in leases and financed sale receivables with billed amounts past due for which it continues to accrue finance income as of March 31, 2022 and December 31, 2021. The amounts disclosed for each credit quality classification are determined on a customer-by-customer basis and include both billed and unbilled amounts. As of March 31, 2022 (In thousands of U.S. Dollars) Accrued 30-89 Days 90+ Days Billed Unbilled Allowance Net Net investment in leases $ 144 $ 320 $ 1,134 $ 1,598 $ 14,084 $ ( 167 ) $ 15,515 Financed sales receivables 599 1,355 5,388 7,342 36,354 ( 976 ) 42,720 Total $ 743 $ 1,675 $ 6,522 $ 8,940 $ 50,438 $ ( 1,143 ) $ 58,235 As of December 31, 2021 (In thousands of U.S. Dollars) Accrued 30-89 Days 90+ Days Billed Unbilled Allowance Net Net investment in leases $ 143 $ 132 $ 825 $ 1,100 $ 12,619 $ ( 176 ) $ 13,543 Financed sales receivables 959 729 6,190 7,878 41,439 ( 1,413 ) 47,904 Total $ 1,102 $ 861 $ 7,015 $ 8,978 $ 54,058 $ ( 1,589 ) $ 61,447 The following table provides information about the Company’s net investment in leases and financed sale receivables that are on nonaccrual status as of March 31, 2022 and December 31, 2021: As of March 31, 2022 As of December 31, 2021 (In thousands of U.S. Dollars) Recorded Allowance Net Recorded Allowance Net Net investment in leases $ 871 $ ( 304 ) $ 567 $ 871 $ ( 309 ) $ 562 Net financed sales receivables 18,290 ( 9,208 ) 9,082 8,642 ( 2,357 ) 6,285 Total $ 19,161 $ ( 9,512 ) $ 9,649 $ 9,513 $ ( 2,666 ) $ 6,847 The balances of net investment in leases and financed sale receivables that are on nonaccrual status as of March 31, 2022 include amounts due from exhibitors in Russia, Ukraine, and Belarus which were placed on nonaccrual status in the first quarter of 2022 as a result of the ongoing Russia-Ukraine conflict. For the three months ended March 31, 2022, the Company recognized less than $ 0.1 million (2021 — less than $ 0.1 million ) in Finance Income related to the net investment in leases with billed amounts past due. For the three months ended March 31, 2022 and 2021, the Company did no t recognize Finance Income related to the net investment in leases on nonaccrual status. For the three months ended March 31, 2022, the Company recognized $ 0.7 million (2021 — $ 1.2 million ) in Finance Income related to the financed sale receivables with billed amounts past due. For the three months ended March 31, 2022 , the Company recognized $ 0.2 million (2021 — $ 0.2 million) in Finance Income related to the financed sales receivables on nonaccrual status. The f ollowing tables summarize the activity in the allowance for credit losses related to the Company’s net investment in leases and financed sale receivables for the three months ended March 31, 2022 and 2021: Three Months Ended March 31, 2022 Net Investment Financed (In thousands of U.S. Dollars) in Leases Sales Receivables Beginning balance $ 798 $ 5,414 Current period (reversal) provision, net ( 93 ) 5,708 Write-offs — — Foreign exchange 1 13 Ending balance $ 706 $ 11,135 Three Months Ended March 31, 2021 Net Investment Net Financed (In thousands of U.S. Dollars) in Leases Sales Receivables Beginning balance $ 557 $ 7,274 Current period provision, net 27 227 Write-offs — — Foreign exchange ( 3 ) ( 10 ) Ending balance $ 581 $ 7,491 For the three months ended March 31, 2022 , the Company’s allowance for current expected credit losses related to its net investment in leases and financed sale receivables increased by $ 5.6 million principally due to reserves established against its receivables in Russia due to uncertainties associated with the ongoing Russia-Ukraine conflict, partially offset by the reversal of provisions associated with the COVID-19 pandemic as the outlook for the theatrical exhibition industry in Domestic and Rest of World markets continues to improve. Variable Consideration Receivables In sale arrangements, variable consideration may become due to the Company from theater operators if certain annual minimum box office receipt thresholds are exceeded. Such variable consideration is recorded as revenue in the period when the sale is recognized and adjusted in future periods based on actual results and changes in estimates. Variable consideration is only recognized to the extent the Company believes there is not a risk of significant revenue reversal. The following table summarizes the activity in the allowance for credit losses related to Variable Consideration Receivables for the three months ended March 31, 2022 and 2021: Three Months Ended March 31, 2022 2021 (In thousands of U.S. Dollars) Theater Theater Beginning balance $ 1,082 $ 1,887 Current period (reversal) provision, net ( 643 ) 200 Write-offs — — Foreign exchange — 1 Ending balance $ 439 $ 2,088 For the three months ended March 31, 2022 , the Company’s allowance for current expected credit losses related to Variable Consideration Receivables decreased by $ 0.6 million principally due to the reversal of provisions associated with the COVID-19 pandemic as the outlook for the theatrical exhibition industry in Domestic and Rest of World markets continues to improve.

Lease Arrangements

Lease Arrangements	3 Months Ended
	Mar. 31, 2022
Leases [Abstract]
Lease Arrangements	5. Lease Arrangements (a) IMAX Corporation as a Lessee The Company’s operating lease arrangements principally involve office and warehouse space. Office equipment is generally purchased outright. Leases with an initial term of less than 12 months are not recorded on the Condensed Consolidated Balance Sheets and the related lease expense is recognized on a straight-line basis over the lease term. Most of the Company’s leases include one or more options to renew, with renewal terms that can extend the lease term from one to five years or more. The Company has determined that it is reasonably certain that the renewal options on its warehouse leases will be exercised based on previous history, its current understanding of future business needs and its level of investment in leasehold improvements, among other factors. The incremental borrowing rate used in the calculation of the Company’s lease liabilities is based on the location of each leased property. None of the Company’s leases include options to purchase the leased property. The depreciable lives of right-of-use assets and related leasehold improvements are limited by the expected lease term. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants. The Company rents or subleases certain office space to third parties, which have a remaining term of less than 12 months and are not expected to be renewed. For the three months ended March 31, 2022 and 2021, the components of lease expense recorded within Selling, General and Administrative expenses are as follows: Three Months Ended March 31, (In thousands of U.S. Dollars) 2022 2021 Operating lease cost (1) $ 160 $ 172 Amortization of lease assets 693 748 Interest on lease liabilities 215 242 Total lease cost $ 1,068 $ 1,162 (1) Includes short-term leases and variable lease costs, which are not significant for the three months ended March 31, 2022 and 2021 . For the three months ended March 31, 2022 and 2021, supplemental cash and non-cash information related to leases is as follows: Three Months Ended March 31, (In thousands of U.S. Dollars) 2022 2021 Cash paid for amounts included in the measurement of lease liabilities $ 945 $ 956 Right-of-use assets obtained in exchange for lease obligations $ 217 $ 198 As of March 31, 2022 and December 31, 2021, supplemental balance sheet information related to leases is as follows: March 31, December 31, (In thousands of U.S. Dollars) 2022 2021 Assets Balance Sheet Classification Right-of-use assets Property, plant and equipment $ 11,650 $ 12,132 Liabilities Balance Sheet Classification Operating leases Accrued and other liabilities $ 14,130 $ 14,691 As of March 31, 2022 and December 31, 2021, the weighted-average remaining lease term and weighted-average interest rate associated with the Company’s operating leases are as follows: March 31, December 31, 2022 2021 Weighted-average remaining lease term (years) 6.8 7.0 Weighted-average discount rate 5.99 % 5.97 % As of March 31, 2022, the maturities of the Company’s operating lease liabilities are as follows: (In thousands of U.S. Dollars) 2022 (nine months remaining) $ 2,598 2023 2,461 2024 2,234 2025 2,084 2026 2,062 Thereafter 5,953 Total lease payments $ 17,392 Less: interest expense ( 3,262 ) Present value of operating lease liabilities $ 14,130 (b) IMAX Corporation as a Lessor The Company provides IMAX Theater Systems to customers through long-term lease arrangements that for accounting purposes are classified as sales-type leases. Under these arrangements, in exchange for providing the IMAX Theater System, the Company earns fixed upfront and ongoing consideration. Certain arrangements that are legal sales are also classified as sales-type leases as certain clauses within the arrangements limit transfer of title or provide the Company with conditional rights to the system. The customer’s rights under the Company’s sales-type lease arrangements are described in Note 3(p) of the Company's audited Consolidated Financial Statements included in its 2021 Form 10-K. Under the Company’s sales-type lease arrangements, the customer has the ability and the right to operate the hardware components or direct others to operate them in a manner determined by the customer. The Company’s lease portfolio terms are typically non-cancellable for 10 to 20 years with renewal provisions from inception. The Company’s sales-type lease arrangements do not contain a guarantee of residual value at the end of the lease term. The customer is required to pay for executory costs such as insurance and taxes and is required to pay the Company for maintenance and an extended warranty generally after the first year of the lease until the end of the lease term. The customer is responsible for obtaining insurance coverage for the IMAX Theater System commencing on the date specified in the arrangement’s shipping terms and ending on the date the IMAX Theater System is returned to the Company. The Company also provides IMAX Theater Systems to customers through joint revenue sharing arrangements . Under the traditional form of these arrangements, in exchange for providing the IMAX Theater System under a long-term lease, the Company earns rent based on a percentage of contingent box office receipts and, in some cases, concession revenues, rather than requiring the customer to pay a fixed upfront fee or annual minimum payments. Under certain other joint revenue sharing arrangements , known as hybrid arrangements, the customer is responsible for making fixed upfront payments prior to the delivery and installation of the IMAX Theater System. Under joint revenue sharing arrangements , the customer has the ability and the right to operate the hardware components or direct others to operate them in a manner determined by the customer. The Company’s joint revenue sharing arrangements are typically non-cancellable for 10 years or longer with renewal provisions. Title to the IMAX Theater System under a joint revenue sharing arrangement generally does not transfer to the customer. The Company’s joint revenue sharing arrangements do not contain a guarantee of residual value at the end of the lease term. The customer is required to pay for executory costs such as insurance and taxes and is required to pay the Company for maintenance and an extended warranty throughout the term. The customer is responsible for obtaining insurance coverage for the IMAX Theater System commencing on the date specified in the arrangement’s shipping terms and ending on the date the IMAX Theater System is returned to the Company. The following lease payments are expected to be received by the Company for its sales-type leases and joint revenue sharing arrangements in each of the next five years and thereafter following the March 31, 2022 balance sheet date: Sales-Type Joint Revenue (In thousands of U.S. Dollars) Leases Sharing Arrangements 2022 (nine months remaining) $ 2,690 $ 142 2023 3,182 128 2024 3,094 — 2025 2,940 — 2026 2,702 — Thereafter 14,651 — Total $ 29,259 $ 270 (See Note 4 for additional information related to the net investment in leases related to the Company’s sales-type lease arrangements.)

Inventories

Inventories	3 Months Ended
	Mar. 31, 2022
Inventory Disclosure [Abstract]
Inventories	6. Inventories As of March 31, 2022 and December 31, 2021, Inventories consist of the following: March 31, December 31, (In thousands of U.S. Dollars) 2022 2021 Raw materials $ 21,026 $ 20,551 Work-in-process 1,501 1,406 Finished goods 4,805 4,967 $ 27,332 $ 26,924 As of March 31, 2022, Inventories include finished goods of $ 2.1 million (December 31, 2021 — $ 2.6 million ) for which title had passed to the customer, but the criteria for revenue recognition were not met as of the balance sheet date. During the three months ended March 31, 2022 , the Company recognized write-downs of less than $ 0.1 million for excess and obsolete inventory based on current estimates of net realizable value ( 2021 — $ 0.1 million).

Debt

Debt	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Debt	7. Debt (a) Revolving Credit Facility Borrowings, Net As of March 31, 2022 and December 31, 2021, Revolving Credit Facility Borrowings, Net includes the following: March 31, December 31, (In thousands of U.S. Dollars) 2022 2021 Credit Facility borrowings $ — $ — Working Capital Facility borrowings 3,627 3,612 Unamortized debt issuance costs ( 2,547 ) ( 1,140 ) Revolving Credit Facility Borrowings, net $ 1,080 $ 2,472 Credit Agreement On March 25, 2022, the Company entered into a Sixth Amended and Restated Credit Agreement with Wells Fargo Bank, National Association, as agent, and a syndicate of lenders party thereto (the “Credit Agreement”), which extended the maturity date of the credit facility under the Credit Agreement (the “Credit Facility”) from June 28, 2023 to March 25, 2027 . The Company’s obligations under the Credit Agreement are guaranteed by certain of the Company’s subsidiaries (the “Guarantors”), and are secured by first-priority security interests in substantially all of the assets of the Company and the Guarantors. The Credit Agreement maintains the Company’s revolving borrowing capacity at $ 300.0 million, and also contains an uncommitted accordion feature allowing the Company to further expand its borrowing capacity to $ 440.0 million or greater, in the form of revolving loans and/or term loans under the incremental facility and subject to conditions set forth in the Credit Agreement. Until the tenth business day after the delivery of the compliance certificate for the first fiscal quarter ending after the end of the "Designated Period" thereunder, loans under the Credit Facility will bear interest, at the Company’s option, at (i) with respect to loans on which interest is payable by reference to the Term SOFR, Eurocurrency Rate or CDOR Rate, such rate plus a margin of 2.50 %; or (ii) with respect to loans on which interest is payable by reference to the U.S. base rate or the Canadian prime rate, such rate plus a margin of 1.75 %. The effective interest rate for the three months ended March 31, 2022 was 0.00 % (2021 — 2.65 %). Following the end of the “Designated Period” thereunder, loans under the Credit Facility will bear interest, at the Company’s option, at (i) Term SOFR, Eurocurrency Rate or CDOR Rate plus a margin ranging from 1.00 % to 1.75 % per annum; or (ii) the U.S. base rate or the Canadian prime rate plus a margin ranging from 0.25 % to 1.00 % per annum, in each case depending on the Company’s total leverage ratio. In no event will Term SOFR, Eurocurrency Rate or CDOR Rate be less than 0.00 % per annum. The Credit Agreement requires that the Company maintain a maximum senior secured net leverage ratio of 3.25 :1.00, which is tested on the last day of each fiscal quarter, commencing with the fiscal quarter ending June 30, 2022. The Credit Agreement also contains a $ 75 million minimum liquidity covenant, which is measured at the end of each calendar month and will remain in effect solely during the Designated Period. In addition, the Credit Agreement contains customary affirmative and negative covenants, including covenants that limit indebtedness, liens, capital expenditures, asset sales, investments and restricted payments, in each case subject to negotiated exceptions and baskets. The Credit Agreement also contains customary representations, warranties and event of default provisions. The Company incurred fees of approximately $ 1.8 million in connection with the Credit Agreement, which are being amortized on a straight-line basis over the term of the Credit Agreement. During the three months ended March 31, 2022, the Company expensed $ 0.4 million in unamortized deferred financing costs associated with lenders that are no longer parties to the Credit Agreement. As of March 31, 2022 , there were no outstanding borrowings under the Credit Facility and the Company did no t have any letters of credit or advance payment guarantees outstanding under the Credit Facility. As of December 31, 2021 , there were no amounts drawn under the previous credit facility, and the Company did no t have any letters of credit or advance payment guarantees outstanding under the previous credit facility. Working Capital Facility On July 1, 2021, IMAX (Shanghai) Multimedia Technology Co., Ltd. (“IMAX Shanghai”), one of the Company’s majority-owned subsidiaries in China, renewed its unsecured revolving facility for up to 200.0 million Chinese Renminbi (“RMB”) (approximately $ 31.5 million), including RMB 10.0 million (approximately $ 1.6 million) for letters of guarantee, to fund ongoing working capital requirements (the “Working Capital Facility”). The Working Capital Facility expires in July 2022 . As of March 31, 2022, outstanding Working Capital Facility borrowings were RMB 23.0 million ( $ 3.6 million ) and outstanding letters of guarantee were RMB 0.3 million (less than $ 0.1 million). As of December 31, 2021 , outstanding Working Capital Facility borrowings were RMB 23.0 million ($ 3.6 million) and outstanding letters of guarantee were RMB 2.8 million ($ 0.5 million). As of March 31, 2022, the amount available for future borrowings under the Working Capital Facility was RMB 167.0 million ( $ 26.3 million ) and the amount available for letters of guarantee was RMB 9.7 million ($ 1.5 million). The amount available for future borrowings under the Working Capital Facility is not subject to a standby fee. The effective interest rate for the three months ended March 31, 2022 was 4.15 % ( 2021 ― 4.34 %). Wells Fargo Foreign Exchange Facility Within the Credit Facility, the Company is able to purchase foreign currency forward contracts and/or other swap arrangements. As of March 31, 2022, the net unrealized gain on the Company’s outstanding foreign currency forward contracts was $ 0.4 million , representing the amount by which the fair value of these forward contracts exceeded their notional value (December 31, 2021 — $ 0.1 million). As of March 31, 2022, the notional value of the Company’s outstanding foreign currency forward contracts was $ 23.6 million (December 31, 2021 — $ 26.7 million ). NBC Facility On October 28, 2019, the Company entered into a $ 5.0 million facility with the National Bank of Canada (the “NBC Facility”) fully insured by Export Development Canada for use solely in conjunction with the issuance of performance guarantees and letters of credit. The NBC Facility is renewed on an annual basis. It was renewed on October 15, 2021 for a one-year term on the same terms and conditions. The Company did no t have any letters of credit or advance payment guarantees outstanding as of March 31, 2022 and December 31, 2021 under the NBC Facility. (b) Convertible Notes, Net As of March 31, 2022 and December 31, 2021, Convertible Notes, Net (as defined below) consist of the following: March 31, December 31, (In thousands of U.S. Dollars) 2022 2021 Convertible Notes $ 230,000 $ 230,000 Unamortized discounts and debt issuance costs ( 5,990 ) ( 6,359 ) Convertible Notes, net $ 224,010 $ 223,641 On March 19, 2021, the Company issued $ 230.0 million of 0.500 % Convertible Senior Notes due 2026 (the “Convertible Notes”) in a private placement conducted pursuant to Rule 144A under the Securities Act of 1933, as amended . The net proceeds from the issuance of the Convertible Notes were $ 223.7 million, after deducting the initial purchasers’ discounts and commissions. In addition, the Company paid $ 1.2 million of debt issuance costs associated with the Convertible Notes. The Company used a portion of the net proceeds from the issuance of the Convertible Notes to make a partial repayment of outstanding borrowings under previous credit facility and is using the remainder for working capital or other general corporate purposes. The Convertible Notes are senior unsecured obligations of the Company and bear interest at a rate of 0.500 % per annum on the principal of $ 230.0 million, payable semi-annually in arrears on April 1 and October 1 of each year, beginning on October 1, 2021 . The Convertible Notes will mature on April 1, 2026 , unless they are redeemed or repurchased by the Company or converted on an earlier date. Holders of the Convertible Notes have the right to convert their Convertible Notes in certain circumstances and during specified periods. Before January 1, 2026, holders of the Convertible Notes have the right to convert their Convertible Notes only upon the occurrence of certain events. From and after January 1, 2026, holders of the Convertible Notes may convert their Convertible Notes at any time at their election until the close of business on the second scheduled trading day immediately before the maturity date. Upon conversion, the Company will pay or deliver, as applicable, cash or a combination of cash (in an amount no less than the principal amount of the Convertible Notes being converted) and common shares, at its election, based on the applicable conversion rates. The initial conversion rate is 34.7766 common shares per $ 1,000 principal amount of Convertible Notes, which represents an initial conversion price of approximately $ 28.75 per common share, and is subject to adjustment upon the occurrence of certain events. The Convertible Notes are redeemable, in whole or in part, at the Company’s option at any time, and from time to time, on or after April 6, 2024 and on or before the 40th scheduled trading day immediately before the maturity date, at a cash redemption price equal to the principal amount of the Convertible Notes to be redeemed, plus accrued and unpaid interest, if any, but only if the last reported sale price per share of the Company’s common stock exceeds 130 % of the conversion price for a specified period of time. In addition, calling any Convertible Notes for redemption will constitute a “make-whole fundamental change” with respect to such notes, in which case the conversion rate applicable to the conversion of such notes will be increased in certain circumstances if such notes are converted after they are called for redemption. In addition, upon the occurrence of a “fundamental change” (as defined below ), holders may require the Company to repurchase their Convertible Notes at a cash repurchase price equal to the principal amount of the Convertible Notes to be repurchased, plus accrued and unpaid interest, if any. Subject to the terms and conditions of the indenture governing the Convertible Notes, a “fundamental change” means, among other things, an event resulting in (i) a change of control, (ii) a transfer of all or substantially all of the assets of the Company, (iii) a merger, (iv) liquidation or dissolution of the Company, or (v) delisting of the Company’s common shares from a national securities exchange. The Company recorded the Convertible Notes entirely as a liability in the Condensed Consolidated Balance Sheets, net of initial purchasers’ discounts and commissions and other debt issuance costs, with interest expense reflecting the cash coupon plus the amortization of the discounts and capitalized costs. Additionally, under the “if-converted” method, because the principal amount of the Convertible Notes is settled in cash and the conversion spread is settleable in the Company’s common shares, diluted earnings per share is calculated by including the net number of incremental shares that would be issued upon conversion of the Convertible Notes, using the average market price during the period. Accordingly, the application of the “if-converted” method may reduce the Company’s reported diluted earnings per share. In connection with the pricing of the Convertible Notes, the Company entered into privately negotiated capped call transactions (the “Capped Call Transactions”) with certain financial institutions. The Capped Call Transactions are expected to reduce potential dilution resulting from the common shares the Company is required to issue and/or to offset any potential cash payments the Company is required to make in excess of the principal amount of the Convertible Notes in the event that the market price per share of the Company’s common shares is greater than the strike price of the Capped Call Transactions, with such reduction and/or offset subject to a cap. The Capped Call Transactions have an initial cap price of $ 37.2750 per share of the Company’s common shares, which represents a premium of 75 % over the last reported sale price of the common shares when they were priced on March 16, 2021, and are subject to certain adjustments under the terms of the Capped Call Transactions. Collectively, the Capped Call Transactions cover, subject to anti-dilution adjustments substantially similar to those applicable to the Convertible Notes, the number of the Company’s common shares underlying the Convertible Notes. The cost of the Capped Call Transactions was approximately $ 19.1 million. The Capped Call Transactions are separate transactions, are not part of the terms of the Convertible Notes and will not affect any holder’s rights under the Convertible Notes. Holders of the Convertible Notes will not have any rights with respect to the Capped Call Transactions. The Capped Call Transactions meet all of the applicable criteria for equity classification in accordance with ASC 815-10-15-74(a), “Derivatives and Hedging—Embedded Derivatives—Certain Contracts Involving an Entity’s Own Equity,” and, as a result, the related $ 19.1 million cost was recorded as a reduction to Other Equity within Shareholders’ Equity on the Company’s Condensed Consolidated Statements of Shareholder’s Equity and Condensed Consolidated Balance Sheets.

Commitments, Contingencies and

Commitments, Contingencies and Guarantees	3 Months Ended
	Mar. 31, 2022
Commitments And Contingencies Disclosure [Abstract]
Commitments, Contingencies and Guarantees	8. Commitments, Contingencies and Guarantees (a) Commitments In the ordinary course of its business, the Company enters into contractual agreements with third parties that include non-cancellable payment obligations, for which it is liable in future periods. These arrangements can include terms binding the Company to minimum payments and/or penalties if it terminates the agreement for any reason other than an event of default as described by the agreement. (b) Contingencies and guarantees The Company is involved in lawsuits, claims, and proceedings, including those identified below, which arise in the ordinary course of business. Management is required to assess the likelihood of any adverse judgments or outcomes related to these legal contingencies, as well as potential ranges of probable or reasonably possible losses. The Company records a provision for a liability when it is probable that a loss has been incurred and the amount of the loss can be reasonably estimated. The determination of the amount of any liability recorded or disclosed is reviewed at least quarterly based on a careful analysis of each individual exposure with, in some cases, the assistance of outside legal counsel, taking into account the impact of negotiations, settlements, rulings, and other pertinent information related to the case. The amount of liabilities recorded or disclosed for these contingencies may change in the future due to changes in management’s judgments resulting from new developments or changes in settlement strategy. Any resulting adjustment to the liabilities recorded by the Company could have a material adverse effect on its results of operations, cash flows, and financial position in the period or periods in which such changes in judgment occur. The Company believes it has adequate provisions for any such matters. The Company expenses legal costs relating to its lawsuits, claims and proceedings as incurred. (i) In January 2004, the Company and IMAX Theatre Services Ltd., a subsidiary of the Company, commenced an arbitration seeking damages before the International Court of Arbitration of the International Chamber of Commerce (the “ICC”) with respect to the breach by Electronic Media Limited (“EML”) of its December 2000 agreement with the Company. In June 2004, the Company commenced a related arbitration before the ICC against EML’s affiliate, E-City Entertainment (I) PVT Limited (“E-City”). On March 27, 2008, the arbitration panel issued a final award in favor of the Company in the amount of $ 11.3 millio n, consisting of past and future rents owed to the Company, plus interest and costs, as well as an additi onal $ 2,512 each d ay in interest from October 1, 2007 until the date the award is paid . In July 2008, E-City commenced a proceeding in Mumbai, India seeking an order that the ICC award may not be recognized in India and on June 10, 2013, the Bombay High Court ruled that it had jurisdiction over the proceeding filed by E-City. The Company appealed that ruling to the Supreme Court of India, and on March 10, 2017, the Supreme Court set aside the Bombay High Court’s judgment and dismissed E-City’s petition. On March 29, 2017, the Company filed an Execution Application in the Bombay High Court seeking to enforce the ICC award against E-City and several related parties, which award the Company calculates to be $ 24.6 million , inclusive of interest, as of March 31, 2022 . That matter is currently pending. The Company has also taken steps to enforce the ICC final award outside of India. In December 2011, the Ontario Superior Court of Justice issued an order recognizing the final award and requiring E-City to pay the Company $ 30,000 to cover the costs of the application , and in May 2012, the New York Supreme Court recognized the Canadian judgment and entered it as a New York judgment. The Company intends to continue pursuing its rights and seeking to enforce the award, although no assurances can be given with respect to the ultimate outcome. (ii) On November 11, 2013, Giencourt Investments, S.A. (“Giencourt”) initiated arbitration before the International Centre for Dispute Resolution in Miami, Florida, based on alleged breaches by the Company of its theater agreement and related license agreement with Giencourt. On February 7, 2017, the panel issued a Partial Final Award and on July 21, 2017, the panel issued a Final Award (collectively, the “Award”), which held that the parties had reached a binding settlement, and therefore the panel did not reach a decision regarding the merits of the dispute. On December 3, 2020, the District Judge entered a final judgment (the “Final Judgment”) against the Company in the total amount of $ 11.3 million as damages under the Award. As of December 31, 2020, the Company’s Consolidated Balance Sheets included a liability within Accrued and Other Liabilities of $ 11.3 million related to the Final Judgment, consisting of $ 7.2 million related to amounts previously collected from or owed to Giencourt principally in respect of theater systems that were not delivered and $ 4.1 million recorded within Legal Judgment and Arbitration Awards in the Company’s Consolidated Statements of Operations during the year ended December 31, 2020 in respect of the remaining amounts owed under the Final Judgment. On June 23, 2021, the Company entered into a final settlement agreement with Giencourt to fully resolve all disputes between the parties in the United States and Ontario (the “Settlement Agreement”). In the second quarter of 2021, the Company paid Giencourt $ 9.5 million as required by the terms of the Settlement Agreement. As a result of the Settlement Agreement, the Final Judgment has been vacated, all litigation between the parties in all jurisdictions has been dismissed and full and final releases have been exchanged by the parties. Accordingly, upon entry in the Settlement Agreement on June 23, 2021, the remaining $ 1.8 million liability recorded within Accrued and Other Liabilities was reversed and a corresponding $ 1.8 million benefit was recorded in the Company’s Condensed Consolidated Statements of Operations within Legal Judgment and Arbitration Awards in the second quarter of 2021. (iii) In addition to the matters described above, the Company is currently involved in other legal proceedings or governmental inquiries which, in the opinion of the Company’s management, will not materially affect the Company’s financial position or future operating results, although no assurance can be given with respect to the ultimate outcome of any such proceedings. (iv) In the normal course of business, the Company enters into agreements that may contain features that meet the definition of a guarantee. A guarantee is a contract (including an indemnity) that contingently requires the Company to make payments (either in cash, financial instruments, other assets, shares of its stock, or provision of services) to a third party based on (a) changes in an underlying interest rate, foreign exchange rate, equity or commodity instrument, index or other variable, that is related to an asset, a liability or an equity security of the counterparty, (b) failure of another party to perform under an obligating agreement or (c) failure of another third party to pay its indebtedness when due. (c) Financial Guarantees Certain subsidiaries of the Company have provided significant financial guarantees to third parties under the Credit Agreement (see Note 7). (d) Product Warranties The Company’s accrual for product warranties, which is recorded within Accrued and Other Liabilities in the Condensed Consolidated Balance Sheets, was $ nil as of March 31, 2022 and December 31, 2021, respectively. (e) Director and Officer Indemnifications The Company’s by-laws contain an indemnification of its current directors and officers, former directors and officers, and persons who have acted at its request to be a director and/or officer of an entity in which the Company is a shareholder or creditor, to indemnify them, to the extent permitted by the Canada Business Corporations Act , against expenses (including legal fees), judgments, fines and any amounts actually and reasonably incurred by them in connection with any action, suit or proceeding in which the directors and/or officers are sued as a result of their service, if they acted honestly and in good faith with a view to the best interests of the Company. In addition, the Company has entered into indemnification agreements with each of its directors in order to effectuate the foregoing. The nature of the indemnification prevents the Company from making a reasonable estimate of the maximum potential amount it could be required to pay to counterparties. The Company has purchased directors’ and officers’ liability insurance. No amount has been accrued in the Company’s Condensed Consolidated Balance Sheets as of March 31, 2022 and December 31, 2021, with respect to this indemnity. (f) Other Indemnification Agreements In the normal course of its operations, the Company provides indemnifications to counterparties in transactions such as: IMAX Theater Systems lease and sale agreements and the supervision of installation or servicing of IMAX Theater Systems; film production, exhibition and distribution agreements; real property lease agreements; and employment agreements. These indemnification agreements require the Company to compensate the counterparties for costs incurred as a result of litigation claims that may be suffered by the counterparty as a consequence of the transaction or the Company’s breach or non-performance under these agreements. While the terms of these indemnification agreements vary based upon the contract, they normally extend for the life of the agreements. A small number of agreements do not provide for any limit on the maximum potential amount of indemnification; however, virtually all of the IMAX Theater System lease and sale agreements limit such maximum potential liability to the purchase price of the system. The fact that the maximum potential amount of indemnification required by the Company is not specified in some cases prevents the Company from making a reasonable estimate of the maximum potential amount it could be required to pay to counterparties. Historically, the Company has no t made any significant payments under such indemnifications and no amounts have been accrued in the Condensed Consolidated Financial Statements with respect to the contingent aspect of these indemnities.

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Operations Supplemental Information	3 Months Ended
	Mar. 31, 2022
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Condensed Consolidated Statements of Operations Supplemental Information	9. Condensed Consolidated Statements of Operations Supplemental Information (a) Selling Expenses The following table summarizes the Company's selling expenses, including sales commissions and other selling expenses such as direct advertising and marketing expenses, which are recognized within Costs and Expenses Applicable to Revenues in the Condensed Consolidated Statements of Operations, for the three months ended March 31, 2022 and 2021: Three Months Ended March 31, 2022 2021 (In thousands of U.S. Dollars) Sales Other Sales Other Technology sales (1) $ — $ 162 $ 133 $ 141 Image enhancement and maintenance services (2) — 2,915 — 1,207 Technology rentals (3) 45 465 94 564 Total $ 45 $ 3,542 $ 227 $ 1,912 (1) Sales commissions paid prior to the recognition of the related revenue are deferred and recognized upon the client acceptance of the IMAX Theater System. Direct advertising and marketing costs for each theater are expensed as incurred. (2) Film exploitation costs, including advertising and marketing costs, are expensed as incurred. (3) Sales commissions related to joint revenue sharing arrangements accounted for as operating leases are recognized in the month they are earned by the salesperson, which is typically the month in which the theater system is installed. Direct advertising and marketing costs for each theater are expensed as incurred. (b) Foreign Exchange Included in Selling, General and Administrative Expenses for the three months ended March 31, 2022 is a net loss of $( 0.1 ) million (2021 — net gain of $ 0.6 million ) resulting from changes in exchange rates related to foreign currency denominated monetary assets and liabilities. See Note 16(c) for additional information. (c) Collaborative Arrangements Joint Revenue Sharing Arrangements As of March 31, 2022, the Company has signed traditional and hybrid joint revenue sharing arrangements with 42 exhibitors (2021 — 41 ) for a total of 1,231 IMAX Theater Systems (2021 — 1,228 ), of which 915 theaters (2021 — 896 ) were operational and included in the network as of that date. The terms of these arrangements are similar in nature, rights, and obligations. (See Note 5 for a description of the material terms of the Company's collaborative joint revenue sharing arrangements.) The accounting policy for the Company’s joint revenue sharing arrangements is disclosed in Note 3(p) of the Company’s audited Consolidated Financial Statements in its 2021 Form 10-K. Revenue attributable to transactions arising between the Company and its customers under joint revenue sharing arrangements are recorded within Revenues — Technology Sales (for hybrid joint revenue sharing arrangements) and Revenues — Technology Rentals (for traditional joint revenue sharing arrangements). For the three months ended March 31, 2022, such revenues totaled $ 13.6 million (2021 — $ 10.1 million ). (See Note 13(a) for a disaggregated presentation of the Company’s revenues.) IMAX DMR In an IMAX DMR arrangement, the Company receives a percentage of the box office receipts from a third party who owns the copyright to a film in exchange for converting the film into IMAX DMR format and distributing it through the IMAX network . The fee earned by the Company in a typical IMAX DMR arrangement averages approximately 12.5 % of box office receipts (i.e. gross box office receipts less applicable sales taxes), except for within Greater China, where the Company receives a lower percentage of net box office receipts for certain Hollywood films. For the three months ended March 31, 2022, IMAX DMR revenue was earned from the exhibition of 23 films ( 13 new films and 10 carryovers), as compared to 18 films ( 12 new films and 6 carryovers) and the re-release of classic titles in the three months ended March 31, 2021. The accounting policy for the Company’s IMAX DMR arrangements is disclosed in Note 3(p) of the Company’s audited Consolidated Financial Statements in its 2021 Form 10-K. Revenue attributable to transactions arising between the Company and its customers under IMAX DMR arrangements are included in Revenues – Image Enhancement and Maintenance Services. For the three months ended March 31, 2022, such revenues totaled $ 19.6 million (2021 — $ 11.9 million ). (See Note 13(a) for a disaggregated presentation of the Company’s revenues.) Co-Produced Film Arrangements In certain film arrangements, the Company co-produces a film with a third party whereby the third party retains the copyright and certain other rights to the film. In some cases, the Company obtains exclusive theatrical distribution rights to the film. Under these arrangements, both parties contribute to the funding of the production, distribution and exploitation costs associated with the film. As of March 31, 2022 , the Company is party to one co-produced film arrangement, which represents the VIE total assets balance of $ 1.6 million and liabilities balance of $ 0.3 million and three other co-produced film arrangements, the terms of which are similar. The accounting policies relating to co-produced film arrangements are disclosed in Notes 3(b) and 3(p) of the Company’s 2021 Form 10-K. For the three months ended March 31, 2022, an expense of $ 0.1 million (2021 — less than $ 0.1 million ) attributable to transactions between the Company and other parties involved in the production of the films have been included in Costs and Expenses Applicable to Revenues – Image Enhancement and Maintenance Services.

Condensed Consolidated Statem_6

Condensed Consolidated Statements of Cash Flows Supplemental Information	3 Months Ended
	Mar. 31, 2022
Supplemental Cash Flow Elements [Abstract]
Condensed Consolidated Statements of Cash Flows Supplemental Information	10. Condensed Consolidated Statements of Cash Flows – Supplemental Information (a) Changes in other operating assets and liabilities Three Months Ended March 31, (In thousands of U.S. Dollars) 2022 2021 Decrease (increase) in: Financing receivables $ 3,916 $ 1,271 Prepaid expenses ( 2,413 ) ( 2,996 ) Variable consideration receivables 829 ( 569 ) Other assets 209 ( 470 ) Increase (decrease) in: Accounts payable 2,184 ( 4,538 ) Accrued and other liabilities ( 14,911 ) 3,147 $ ( 10,186 ) $ ( 4,155 ) (b) Depreciation and amortization Three Months Ended March 31, (In thousands of U.S. Dollars) 2022 2021 Film assets $ 3,178 $ 2,494 Property, plant and equipment: Equipment supporting joint revenue sharing arrangements 5,548 5,743 Other property, plant and equipment 2,028 2,476 Other intangible assets (1) 1,532 1,471 Other assets (2) 455 494 $ 12,741 $ 12,678 (1) Includes the amortization of licenses and intellectual property recorded in Research and Development on the Condensed Consolidated Statement of Operations of $ 0.3 million in the three months ended March 31, 2022 ( 2021 — $ 0.3 million ). (2) Includes the amortization of lessee incentives provided by the Company to its customers under joint revenue sharing arrangements. (c) Write-downs Three Months Ended March 31, (In thousands of U.S. Dollars) 2022 2021 Inventories (1) $ 12 $ 103 Property, plant and equipment: Equipment supporting joint revenue sharing arrangements (2) 202 151 Other property, plant and equipment 2 3 Film assets (3) 165 ( 44 ) $ 381 $ 213 (1) In the three months ended March 31, 2022 , the Company recorded write-downs of less than $ 0.1 million ( 2021 — $ 0.1 million ) in Costs and Expenses Applicable to Technology Sales related to excess and obsolete inventory. (2) In the three months ended March 31, 2022, the Company recorded charges of $ 0.2 million (2021 — $ 0.2 million ) in Costs and Expenses Applicable to Technology Rentals mostly related to the write-down of leased xenon-based digital systems which were taken out of service in connection with customer upgrades to laser-based digital systems. (3) In the three months ended March 31, 2022, the Company recorded impairment losses of $ 0.2 million (2021 — $ nil ) related to the write-down of DMR and Film Distribution related film assets. (d) Significant non-cash investing activities Three Months Ended March 31, (In thousands of U.S. Dollars) 2022 2021 Net increase (decrease) in accruals related to: Investment in equipment supporting joint revenue sharing arrangements $ 1,133 $ 117 Acquisition of other intangible assets 32 ( 858 ) $ 1,165 $ ( 741 ) (e) Significant non-cash financing activities In the first quarter of 2021, the Company incurred $ 1.2 million of debt issuance costs related to the Convertible Notes (see Note 7), which were not yet paid as of March 31, 2021 and were recorded on the Condensed Consolidated Balance Sheets within Accounts Payable and Accrued and Other Liabilities.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Income Taxes	11. Income Taxes (a) Income Tax Expense For the three months ended March 31, 2022, the Company recorded income tax expense of $ 2.6 million (2021 — $ 3.1 million ). For the three months ended March 31, 2022, the Company’s effective tax rate differs from the combined Canadian federal and provincial statutory income tax rate due to the following factors: Three Months Ended Three Months Ended March 31, 2022 March 31, 2021 (In thousands of U.S. Dollars, except rates) Amount Rate Amount Rate Income tax benefit at combined statutory rates $ 2,475 26.5 % $ 1,969 26.5 % Adjustments resulting from: Increase in valuation allowance ( 5,009 ) ( 53.6 %) ( 6,971 ) ( 93.8 %) (Shortfall) excess tax benefits related to share-based compensation ( 129 ) ( 1.4 %) 741 10.0 % Changes to tax reserves ( 160 ) ( 1.7 %) 557 7.5 % Gain on sale of Maoyan investment not taxable — — 1,367 18.4 % Withholding taxes resulting from management's decision to no longer indefinitely reinvest the historical earnings of certain foreign subsidiaries — — ( 547 ) ( 7.4 %) Other non-deductible/non-taxable items 213 2.3 % ( 184 ) ( 2.5 %) Income tax expense $ ( 2,610 ) ( 27.9 %) $ ( 3,068 ) ( 41.3 %) For the three months ended March 31, 2022, the Company recorded an additional $ 5.0 million (2021 — $ 7.0 million) valuation allowance against deferred tax assets in jurisdictions where management cannot reliably forecast that sufficient future tax liabilities will arise in specific jurisdictions, which includes the impact of the COVID-19 pandemic. Accordingly, the tax benefit associated with the current period losses in these jurisdictions is not ultimately reflected in the Company’s Condensed Consolidated Statements of Operations. As of March 31, 2022, the Company’s Condensed Consolidated Balance Sheets include net deferred income tax assets of $ 13.9 million , net of a valuation allowance of $ 51.0 million (December 31, 2021 — $ 13.9 million , net of a valuation allowance of $ 46.0 million ). The valuation allowance will be reversed when and if management determines it is more likely than not that the Company will incur sufficient tax liabilities to allow it to utilize the deferred tax assets against which the valuation allowance is recorded. Despite the valuation allowance recorded against its deferred tax assets, the Company remains entitled to benefit from tax attributes which currently have a valuation allowance applied to them. (b) Income Tax Effect on Other Comprehensive Income (Loss) For the three months ended March 31, 2022 and 2021, the Income Tax Expense related to the components of Other Comprehensive Income (Loss) is as follows: Three Months Ended March 31, (In thousands of U.S. Dollars) 2022 2021 Unrealized change in cash flow hedging instruments $ ( 82 ) $ ( 77 ) Realized change in cash flow hedging instruments ( 8 ) 60 Reclassification of unrealized change in ineffective cash flow hedging instruments — 6 Defined benefit and postretirement benefit plans ( 12 ) ( 13 ) $ ( 102 ) $ ( 24 )

Capital Stock and Reserves

Capital Stock and Reserves	3 Months Ended
	Mar. 31, 2022
Equity [Abstract]
Capital Stock and Reserves	12. Capital Stock and Reserves (a) Share-Based Compensation For the three months ended March 31, 2022, share-based compensation expense totaled $ 6.1 million (2021 — $ 5.3 million ) and is reflected in the following accounts in the Condensed Consolidated Statements of Operations: Three Months Ended March 31, (In thousands of U.S. Dollars) 2022 2021 Cost and expenses applicable to revenues $ 239 $ 294 Selling, general and administrative expenses 5,726 4,944 Research and development 87 69 $ 6,052 $ 5,307 The following table summarizes the Company’s share-based compensation expense by each award type: Three Months Ended March 31, (In thousands of U.S. Dollars) 2022 2021 Stock Options $ 207 $ 351 Restricted Share Units 3,411 3,151 Performance Stock Units 1,729 1,014 IMAX China Stock Options 34 56 IMAX China Long Term Incentive Plan Restricted Share Units 497 632 IMAX China Long Term Incentive Plan Performance Stock Units 174 103 $ 6,052 $ 5,307 For three months ended March 31, 2022 and 2021, the Company did no t record any expenses related to restricted share units granted to non-employees. Stock Option Summary The following table summarizes the activity under the Company’s Stock Option Plan (“SOP”) and the IMAX Corporation Second Amended and Restated Long-Term Incentive Plan (as may be amended, “IMAX LTIP”) for the three months ended March 31, 2022 and 2021: Number of Shares Weighted Average Exercise 2022 2021 2022 2021 Stock options outstanding, beginning of period 3,736,157 4,892,962 $ 26.61 $ 26.81 Granted — — — — Exercised — ( 38,754 ) — 21.26 Forfeited — ( 44,362 ) — 23.12 Expired ( 126,569 ) ( 885,698 ) 33.61 28.31 Cancelled ( 2,197 ) ( 10,917 ) 32.50 27.20 Stock options outstanding, end of period 3,607,391 3,913,231 26.36 26.56 Stock options exercisable, end of period 3,524,298 3,615,079 26.45 26.93 Stock options are no longer granted under the Company’s previously approved SOP. Restricted Share Units (“RSU”) Summary The following table summarizes the activity in respect of RSUs issued under the IMAX LTIP for the three months ended March 31, 2022 and 2021: Number of Awards Weighted Average Grant Date 2022 2021 2022 2021 RSUs outstanding, beginning of period 1,457,883 1,564,838 $ 19.16 $ 18.33 Granted 636,427 754,778 19.64 20.94 Vested and settled ( 648,527 ) ( 523,573 ) 18.78 18.82 Forfeited ( 1,328 ) ( 60,329 ) 14.84 20.08 RSUs outstanding, end of period 1,444,455 1,735,714 19.54 19.26 Performance Stock Units ("PSU") Summary The Company grants awards for two types of PSUs, one which vests based on a combination of employee service and the achievement of certain EBITDA-based targets and one which vests based on a combination of employee service and the achievement of total shareholder return (“TSR”) targets. The achievement of the EBITDA and TSR targets in these PSUs is determined over a three-year performance period. At the conclusion of the three-year performance period, the number of PSUs that ultimately vest can range from 0 % to a maximum vesting opportunity of 175 % of the initial award, depending upon actual performance versus the established EBITDA and stock-price targets. The grant date fair value of PSUs with EBITDA-based targets is equal to the closing price of the Company’s common shares on the date of grant or the average closing price of the Company’s common shares for five days prior to the date of grant. The grant date fair value of PSUs with TSR targets is determined on the grant date using a Monte Carlo simulation, which is a valuation model that considers the likelihood of achieving the TSR targets embedded in the award (“Monte Carlo Model”). The compensation expense attributable to each type of PSU is recognized on a straight-line basis over the requisite service period. The fair value determined by the Monte Carlo Model is affected by the Company’s share price, as well as assumptions regarding a number of highly complex and subjective variables. These variables include, but are not limited to, market conditions as of the grant date, the Company’s expected share price volatility over the term of the awards, and other relevant data. The compensation expense is fixed on the date of grant based on the fair value of the PSUs granted. The amount and timing of compensation expense recognized for PSUs with EBITDA-based targets is dependent upon management's assessment of the likelihood of achieving these targets. If, as a result of management’s assessment, it is projected that a greater number of PSUs will vest than previously anticipated, a life-to-date adjustment to increase compensation expense is recorded in the period that such determination is made. Conversely, if, as a result of management’s assessment, it is projected that a lower number of PSUs will vest than previously anticipated, a life-to-date adjustment to decrease compensation expense is recorded in the period that such determination is made. The expense recognized in the three months ended March 31, 2022 and 2021 includes adjustments reflecting management’s estimate of the number of PSUs with EBITDA-based targets expected to vest. The following table summarizes the activity in respect of PSUs issued under the IMAX LTIP for the three months ended March 31, 2022 and 2021: Number of Awards Weighted Average Grant Date 2022 2021 2022 2021 PSUs outstanding, beginning of period 613,405 361,844 $ 18.21 $ 15.68 Granted 359,138 308,438 20.34 20.77 Forfeited — ( 2,526 ) — 14.84 PSUs outstanding, end of period 972,543 667,756 19.00 18.03 As of March 31, 2022 , the maximum number of shares of common stock that may be issued with respect to PSUs outstanding is 1,701,951 , assuming full achievement of the EBITDA and TSR targets. (b) Issuer Purchases of Equity Securities In April 2021, the Company’s Board of Directors approved a 12-month extension to its share repurchase program through June 30, 2022 . The extension authorized the Company to repurchase up to approximately $ 89.4 million worth of common shares, the remaining amount available of the original $ 200.0 million initially authorized under the share repurchase program when it commenced on July 1, 2017. The repurchases may be made either in the open market or through private transactions, including repurchases made pursuant a plan intended to comply with Rule 10b5-1 under the Securities Exchange Act of 1934, as amended, subject to market conditions, applicable legal requirements, and other relevant factors. The Company has no obligation to repurchase shares and the share repurchase program may be suspended or discontinued by the Company at any time. During the three months ended March 31, 2022, the Company repurchased 380,652 common shares, respectively (2021 — nil ), at an average price of $ 16.45 per share (2021 — $ nil ), for a total of $ 6.3 million ( 2021 — $ nil ), excluding commissions. As of March 31, 2022, the Company has $ 69.2 million available under its approved repurchase program. During the three months ended March 31, 2022 and 2021, there were no shares purchases in the administration of employee share based plans. As of March 31, 2022 and December 31, 2021, the IMAX LTIP trustee did no t hold any shares. Any shares held with the trustee are recorded at cost and are reported as a reduction against Capital Stock on the Company’s Condensed Consolidated Balance Sheets. Subsequent to March 31, 2022 and through April 27, 2022, the Company completed repurchases through a 10b5-1 program of 869,048 shares at an average price of $ 16.42 per share, for a total cost of $ 14.3 million, excluding commissions. In 2021, IMAX China's shareholders granted its Board of Directors a general mandate authorizing the Board, subject to applicable laws, to repurchase shares of IMAX China not to exceed 10 % of the total number of issued shares as of May 6, 2021 ( 34,835,824 shares). This program will be valid until the 2022 Annual General Meeting of IMAX China, which will be held on May 26, 2022. The repurchases may be made in the open market or through other means permitted by applicable laws. IMAX China has no obligation to repurchase its shares and the share repurchase program may be suspended or discontinued by IMAX China at any time. During the three months ended March 31, 2022, IMAX China repurchased 1,448,000 common shares, at an average price of HKD 9.89 per share (U.S. $ 1.26 per share) for a total of HKD 14.3 million or U.S. $ 1.8 million. The change in non-controlling interest as a result of common shares repurchased by IMAX China is recorded within Non-Controlling Interests in the Condensed Consolidated Balance Sheets and the Condensed Consolidated Statements of Shareholders’ Equity. The difference between the consideration paid and the ownership interest obtained as a result of IMAX China share repurchases is recorded within Other Equity in the Condensed Consolidated Balance Sheets and the Condensed Consolidated Statements of Shareholders’ Equity. (See Note 1.) (c) Basic and Diluted Weighted Average Shares Outstanding The following table reconciles the denominator of the basic and diluted weighted average share computations: Three Months Ended March 31, (In thousands) 2022 2021 Issued and outstanding, beginning of period 58,654 58,921 Weighted average number of shares (repurchased) issued, net ( 80 ) 91 Weighted average number of shares outstanding — basic 58,574 59,012 Weighted average effect of potential common shares, if dilutive — — Weighted average number of shares outstanding — diluted 58,574 59,012 For the three months ended March 31, 2022, the calculation of diluted weighted average shares outstanding excludes 6,348,736 shares (2021 — 6,494,829 shares) that are issuable upon the vesting or exercise of share-based compensation including: (i) 1,444,455 RSUs (2021 — 1,735,714 RSUs), (ii) 1,296,890 PSUs (2021 — 845,884 PSUs) and (iii) 3,607,391 stock options (2021 — 3,913,231 stock options), as the effect would be anti-dilutive. The calculation of diluted weighted average shares outstanding for the three months ended March 31, 2022 also excludes any shares potentially issuable upon the conversion of the Convertible Notes as the average market price of the Company’s common shares during the period of time they were outstanding was less than the conversion price of the Convertible Notes. (See Note 7(b).) (d) Statutory Surplus Reserve Pursuant to the corporate law of the People’s Republic of China (the “PRC”), entities registered in the PRC are required to maintain certain statutory reserves, which are appropriated from after-tax profits (after offsetting accumulated losses from prior years), as reported in their respective statutory financial statements, before the declaration or payment of dividends to equity holders. All statutory reserves are created for specific purposes. The Company’s PRC subsidiaries are required to appropriate 10 % of statutory net profits to statutory surplus reserves, upon distribution of their after-tax profits. The Company’s PRC subsidiaries may discontinue the contribution when the aggregate sum of the statutory surplus reserve is more than 50 % of its registered capital. The statutory surplus reserve is non-distributable other than during liquidation and may only be used to fund losses from prior years, to expand production operations, or to increase the capital of the subsidiaries. In addition, the subsidiaries may make further contribution to the discretional surplus reserve using post-tax profits in accordance with resolutions of the Board of Directors. In 2021, one of the Company’s PRC subsidiaries declared and paid dividends of RMB 131.6 million ($ 20.4 million). In the third quarter of 2021, upon passage of the requisite resolution of the Board of Directors, a statutory surplus reserve of RMB 36.4 million ($ 5.6 million) was recorded within Shareholders’ Equity as an appropriation of the retained earnings of the Company’s PRC subsidiaries, of which $ 3.9 million is attributable to the Company’s common shareholders and $ 1.7 million is attributable to non-controlling shareholders. The statutory surplus reserve of RMB 36.4 million ($ 5.6 million) has reached 50 % of its PRC subsidiaries’ registered capital. No additional statutory surplus reserve was recorded by the Company's PRC subsidiaries for the three months ended March 31, 2022 .

Revenue from Contracts with Cus

Revenue from Contracts with Customers	3 Months Ended
	Mar. 31, 2022
Revenue From Contract With Customer [Abstract]
Revenue from Contracts with Customers	13. Revenue from Contracts with Customers (a) Disaggregated Information About Revenue The following tables summarize the Company’s revenues by type and reportable segment for the three months ended March 31, 2022 and 2021: Three Months Ended March 31, 2022 Revenue from Contracts with Customers Revenue from (In thousands of U.S. Dollars) Fixed Variable Lease Finance Income Total Technology sales IMAX Systems (1) $ 5,945 $ 368 $ — $ — $ 6,313 Joint Revenue Sharing Arrangements, fixed fees — — 990 — 990 Other Theater Business 670 — — — 670 All Other 922 81 — — 1,003 Sub-total 7,537 449 990 — 8,976 Image enhancement and maintenance services IMAX DMR — 19,564 — — 19,564 IMAX Maintenance 14,942 — — — 14,942 Film Distribution 144 437 — — 581 Film Post-Production 825 — — — 825 All Other — 182 — — 182 Sub-total 15,911 20,183 — — 36,094 Technology rentals Joint Revenue Sharing Arrangements, contingent rent — — 12,643 — 12,643 All Other — — 18 — 18 Sub-total — — 12,661 — 12,661 Finance income IMAX Systems — — — 2,305 2,305 Total $ 23,448 $ 20,632 $ 13,651 $ 2,305 $ 60,036 Three Months Ended March 31, 2021 Revenue from Contracts with Customers Revenue from (In thousands of U.S. Dollars) Fixed Variable Lease Finance Income Total Technology sales IMAX Systems (1) $ 838 $ 1,080 $ 1,376 $ — $ 3,294 Joint Revenue Sharing Arrangements, fixed fees — — 1,738 — 1,738 Other Theater Business 437 — — — 437 All Other 668 38 — — 706 Sub-total 1,943 1,118 3,114 — 6,175 Image enhancement and maintenance services IMAX DMR — 11,944 — — 11,944 IMAX Maintenance 8,906 — — — 8,906 Film Distribution — 222 — — 222 Film Post-Production 591 — — — 591 All Other — ( 48 ) — — ( 48 ) Sub-total 9,497 12,118 — — 21,615 Technology rentals Joint Revenue Sharing Arrangements, contingent rent — — 8,359 — 8,359 Sub-total — — 8,359 — 8,359 Finance income IMAX Systems — — — 2,605 2,605 Total $ 11,440 $ 13,236 $ 11,473 $ 2,605 $ 38,754 (1) Includes r evenues earned from sale and sales-type lease arrangements involving new and upgraded IMAX Theater Systems, as well as the impact of renewals and amendments to existing theater system arrangements. (b) Deferred Revenue IMAX Theater System sale and lease arrangements include a requirement for the Company to provide maintenance services over the life of the arrangement, subject to a consumer price index adjustment each year. In circumstances where customers prepay the entire term’s maintenance fee, additional payments are due to the Company for the years after its extended warranty and maintenance obligations expire. Payments upon renewal each year are either prepaid or made in arrears and can vary in frequency from monthly to annually. As of March 31, 2022, $ 19.2 million of consideration has been deferred in relation to outstanding maintenance services to be provided on existing maintenance contracts (December 31, 2021 — $ 20.2 million ). Maintenance revenue is recognized evenly over the contract term which coincides with the period over which maintenance services are provided. In the event of customer default, any payments made by the customer may be retained by the Company. In instances where the Company receives consideration prior to satisfying its performance obligations, the recognition of revenue is deferred. The majority of the deferred revenue balance relates to payments received by the Company for IMAX Theater Systems where control of the system has not transferred to the customer. The deferred revenue balance related to an individual theater increases as progress payments are made and is then derecognized when control of the system is transferred to the customer. Recognition dates are variable and depend on numerous factors, including some outside of the Company’s control.

Segment Reporting

Segment Reporting	3 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
Segment Reporting	14. Segment Reporting The Company’s Chief Executive Officer (“CEO”) is its Chief Operating Decision Maker (“CODM”), as such term is defined under U.S. GAAP. The CODM, along with other members of management, assess segment performance based on segment revenues and gross margins. Selling, general and administrative expenses, research and development costs, the amortization of intangible assets, provision for (reversal of) current expected credit losses, certain write-downs, interest income, interest expense, and income tax (expense) benefit are not allocated to the Company’s segments. The Company has the following reportable segments: (i) IMAX DMR; (ii) Joint Revenue Sharing Arrangements ("JRSA"); (iii) IMAX Systems, (iv) IMAX Maintenance; (v) Other Theater Business; (vi) Film Distribution; and (vii) Film Post-Production. The Company's activities that do not meet the criteria to be considered a reportable segment are disclosed within All Other. The Company organizes its reportable segments into the following three categories, identified by the nature of the product sold or service provided: (i) IMAX Technology Network, which earns revenue based on contingent box office receipts and includes the IMAX DMR segment and contingent rent from the JRSA segment; (ii) IMAX Technology Sales and Maintenance, which includes results from the IMAX Systems, IMAX Maintenance, and Other Theater Business segments, as well as fixed revenues from the JRSA segment; and (iii) Film Distribution and Post-Production, which includes activities related to the distribution of large-format documentary films, primarily to institutional theaters, and the distribution of exclusive experiences ranging from live performances to interactive events with leading artists and creators (through the Film Distribution segment) and the provision of film post-production and quality control services. The Company presents its segment information at a disaggregated level to provide more relevant information to the users of its financial statements. Transactions between the IMAX DMR segment and the Film Post-Production segment are valued at exchange value. Inter-segment profits are eliminated upon consolidation, as well as for the disclosures below. In the first quarter of 2022, the Company’s internal reporting was updated to reclassify the results of IMAX Enhanced TM , an initiative to bring The IMAX Experience ® into the home, out of the New Business Initiatives segment and into All Other for segment reporting purposes. IMAX Enhanced was the only component of the New Business Initiatives segment. Prior period comparatives have been reclassified to conform with the current period presentation. The following table presents the Company’s revenue and gross margin (margin loss) by category and reportable segment for the three months ended March 31, 2022 and 2021: Revenue (1) Gross Margin (Margin Loss) (In thousands of U.S. Dollars) 2022 2021 2022 2021 IMAX Technology Network IMAX DMR $ 19,564 $ 11,944 $ 13,557 $ 8,251 JRSA, contingent rent 12,643 8,359 6,198 1,883 32,207 20,303 19,755 10,134 IMAX Technology Sales and Maintenance IMAX Systems (2) 8,618 5,899 3,976 3,012 JRSA, fixed fees 990 1,738 252 156 IMAX Maintenance 14,942 8,906 7,870 3,823 Other Theater Business (3) 670 437 100 63 25,220 16,980 12,198 7,054 Film Distribution and Post-Production Film Distribution 581 222 ( 1,247 ) ( 261 ) Post-Production 825 591 386 236 1,406 813 ( 861 ) ( 25 ) Sub-total for reportable segments 58,833 38,096 31,092 17,163 All Other (4) 1,203 658 679 118 Total $ 60,036 $ 38,754 $ 31,771 $ 17,281 (1) The Company’s largest customer represents 28 % of total Revenues for the three months ended March 31, 2022 (2021 — 31 %). No single customer comprises more than 10% of the Company’s total Accounts Receivable as of March 31, 2022 and December 31, 2021 . (2) The revenue from this segment includes the initial upfront payments and the present value of fixed minimum payments from sale and sales-type lease arrangements of IMAX Theater Systems, as well as the present value of estimated variable consideration from sales of IMAX Theater Systems. To a lesser extent, the revenue from this segment also includes finance income associated with these revenue streams. (3) The revenue from this segment principally includes after-market sales of IMAX Theater System parts and 3D glasses. (4) All Other includes the results from IMAX Enhanced and other ancillary activities. In the first quarter of 2022, the Company's internal reporting was updated to reclassify the results of IMAX Enhanced out of the New Business Initiatives segment into All Other for segment reporting purposes. Prior period comparatives have been revised to conform with the current period presentation. Geographic Information Revenue by geographic area is based on the location of the customer. Revenue related to IMAX DMR is presented based upon the geographic location of the theaters that exhibit the remastered films. IMAX DMR revenue is generated through contractual relationships with studios and other third parties and these may not be in the same geographical location as the theater. The following table summarizes the Company's revenues by geographic area for the three months ended March 31, 2022 and 2021: Three Months Ended March 31, (In thousands of U.S. Dollars) 2022 2021 Revenue Greater China $ 21,476 $ 25,518 United States 19,067 3,699 Western Europe 7,061 1,369 Asia (excluding China) 5,767 4,302 Latin America 1,886 53 Canada (2) 1,772 ( 553 ) Russia/the CIS & Ukraine (1) 1,010 1,886 Rest of the World 1,997 2,480 Total $ 60,036 $ 38,754 (1) In addition to Russia, the CIS includes Azerbaijan, Belarus, Kazakhstan, and Kyrgyzstan. As of March 31, 2022, the IMAX network includes 54 theaters in Russia, 9 theaters in Ukraine, and 1 theater in Belarus. (2) For the three months ended March 31, 2021, the amount attributable to Canada includes a $ 0.5 m illion reversal of previously rec orded revenue and a corresponding reduction in the net investment in lease as a result of a lease modification entered into during the period. No single country in the Rest of the World, Western Europe, Latin America and Asia (excluding Greater China) comprises more than 10% of the Company’s total revenue in the three months ended March 31, 2022 and 2021.

Employees Pension and Postretir

Employees Pension and Postretirement Benefits	3 Months Ended
	Mar. 31, 2022
Compensation And Retirement Disclosure [Abstract]
Employees Pension and Postretirement Benefits	15. Employee's Pension and Postretirement Benefits (a) Defined Benefit Plan The Company has an unfunded defined benefit pension plan, the Supplemental Executive Retirement Plan (the “SERP”), covering its CEO, Richard L. Gelfond. Under the terms of the SERP, if Mr. Gelfond’s employment is terminated other than for cause (as defined in his employment agreement), he is entitled to receive SERP benefits in the form of a lump sum payment. SERP benefit payments to Mr. Gelfond are subject to a deferral for six months after the termination of his employment, at which time Mr. Gelfond will be entitled to receive interest on the deferred amount credited at the applicable federal rate for short-term obligations. Pursuant to an amendment to his employment agreement dated November 1, 2019, the term of Mr. Gelfond’s employment was extended through December 31, 2022, although Mr. Gelfond has not informed the Company that he intends to retire at that time. Under the terms of this amendment to his employment agreement, the total benefit payable to Mr. Gelfond under the SERP was fixed at $ 20.3 million. As of March 31, 2022 and December 31, 2021, the Company’s projected benefit obligation and unfunded status related to the SERP are as follows: March 31, December 31, (In thousands of U.S. Dollars) 2022 2021 Projected benefit obligation: Obligation, beginning of period $ 20,056 $ 20,116 Interest cost 40 72 Actuarial gain — ( 132 ) Obligation, end of period and unfunded status $ 20,096 $ 20,056 For the three months ended March 31, 2022 , the Company recorded interest costs of less than $ 0.1 million ( 2021 — less than $ 0.1 million) related to the SERP. The Company expects to recognize additional interest costs of $ 0.1 million related to the SERP during the remainder of 2022 . No contributions are expected to be made to the SERP in 2022. (b) Defined Contribution Pension Plan The Company also maintains defined contribution plans for its employees, including its executive officers. The Company makes contributions to these plans on behalf of employees in an amount up to 5 % of their base salary subject to certain prescribed maximums. During the three months ended March 31, 2022, the Company contributed and recorded expense of $ 0.3 million (2021 — $ 0.3 million ) to its Canadian defined contribution plan and $ 0.3 million (2021 — $ 0.2 million ) to its defined contribution employee plan under Section 401(k) of the U.S. Internal Revenue Code. (c) Postretirement Benefits – Executives The Company has an unfunded postretirement plan for Mr. Gelfond and Bradley J. Wechsler, former Chairman of the Company’s Board of Directors (the “Executive Postretirement Benefit Plan”). The Executive Postretirement Benefit Plan provides that the Company will maintain health benefits for Messrs. Gelfond and Wechsler until they become eligible for Medicare and, thereafter, the Company will provide Medicare supplemental coverage as selected by Messrs. Gelfond and Wechsler. Mr. Wechsler retired from the Company’s Board of Directors on June 9, 2021. The Company maintained Mr. Wechsler’s health benefits through December 31, 2021, and thereafter is providing him with Medicare supplemental coverage. As of March 31, 2022, the Company’s postretirement benefits obligation under this plan is $ 0.7 million (December 31, 2021 — $ 0.7 million ). For the three months ended March 31, 2022, the Company has recorded an expense of less than $ 0.1 million (2021 — less than $ 0.1 million ) related to this plan. (d) Postretirement Benefits – Canadian Employees The Company has an unfunded postretirement plan for its Canadian employees meeting specific eligibility requirements. The Company will provide eligible participants, upon retirement, with health and welfare benefits. As of March 31, 2022, the Company’s postretirement benefits obligation under this plan is $ 1.7 million (December 31, 2021 — $ 1.7 million ). For the three months ended March 31, 2022, the Company has recorded expense of less than $ 0.1 million (2021 — less than $ 0.1 million ) related to this plan. (e) Deferred Compensation Benefit Plan The Company maintained a nonqualified deferred compensation benefit plan (the “Retirement Plan”) covering the former CEO of IMAX Entertainment and Senior Executive Vice President of the Company. Under the terms of the Retirement Plan, the benefits were due to vest in full if the executive incurred a separation from service from the Company (as defined therein). In 2018, the executive incurred a separation from service from the Company, and as such, the Retirement Plan benefits became fully vested as of December 31, 2018. As of March 31, 2022, the benefit obligation related to the Retirement Plan was $ 3.8 million (December 31, 2021 — $ 3.8 million ) and is recorded on the Company’s Condensed Consolidated Balance Sheets within Accrued and Other Liabilities. As the Retirement Plan is fully vested, the benefit obligation is measured at the present value of the benefits expected to be paid in the future with the accretion of interest recognized in the Condensed Consolidated Statements of Operations within Retirement Benefits Non-Service Expense. The Retirement Plan is funded by an investment in company-owned life insurance (“COLI”), which is recorded at its fair value on the Company’s Condensed Consolidated Balance Sheets within Prepaid Expenses. As of March 31, 2022, fair value of the COLI asset was $ 3.3 million (December 31, 2021 — $ 3.3 million ). Gains and losses resulting from changes in the cash surrender value of the COLI asset are recognized in the Condensed Consolidated Statements of Operations within Realized and Unrealized Investment Gains.

Financial Instruments

Financial Instruments	3 Months Ended
	Mar. 31, 2022
Investments All Other Investments [Abstract]
Financial Instruments	16. Financial Instruments (a) Financial Instruments The Company maintains cash with various major financial institutions. The Company’s cash is invested with highly rated financial institutions. The Company’s $ 162.3 million balance of cash and cash equivalents as of March 31, 2022 (December 31, 2021 — $ 189.7 million) includes $ 96.8 million in cash held outside of Canada (December 31, 2021 — $ 102.1 million ), of which $ 73.4 million was held in the PRC (December 31, 2021 — $ 76.3 million ). (b) Fair Value Measurements The carrying values of the Company’s Cash and Cash Equivalents, Accounts Receivable, Accounts Payable and Accrued and Other Liabilities due within one year approximate their fair values due to the short-term maturity of these instruments. Including these instruments, the Company’s financial instruments consist of the following: As of March 31, 2022 As of December 31, 2021 (In thousands of U.S. Dollars) Carrying Estimated Carrying Estimated Level 1 Cash and cash equivalents (1) $ 162,300 $ 162,300 $ 189,711 $ 189,711 Equity securities (2) 1,092 1,092 1,087 1,087 Level 2 Net financed sales receivables (3) $ 103,660 $ 103,740 $ 112,657 $ 112,662 Net investment in sales-type leases (3) 27,850 27,902 28,392 28,407 Equity securities (1) 1,000 1,000 1,000 1,000 COLI (4) 3,305 3,305 3,275 3,275 Foreign exchange contracts — designated forwards (2) 423 423 79 79 Working Capital Facility borrowings (1) ( 3,627 ) ( 3,627 ) ( 3,612 ) ( 3,612 ) Convertible Notes (5) ( 230,000 ) ( 220,618 ) ( 230,000 ) ( 223,100 ) Level 3 Interest in film classified as a financial instrument (6) $ 4,726 $ 4,726 $ — $ — (1) Recorded at cost, which approximates fair value. (2) Fair value is determined using quoted prices in active markets. (3) Fair value is estimated based on discounting future cash flows at currently available interest rates with comparable terms. (4) Measured at cash surrender value, which approximates fair value. (5) Fair value is determined using quoted market prices that are observable in the market or that could be derived from observable market data. (6) Recorded at amortized cost. Inputs used in the calculation of estimated fair value include management's projection of future box office and ancillary receipts for the film net of distribution costs and other costs in accordance with the investment agreement. (c) Foreign Exchange Risk Management The Company is exposed to market risk from changes in foreign currency rates. A majority of the Company’s revenues is denominated in U.S. Dollars while a significant portion of its costs and expenses is denominated in Canadian Dollars. A portion of the Company's net U.S. Dollar cash is converted to Canadian Dollars to fund Canadian Dollar expenses through the spot market. In China and Japan, the Company has ongoing operating expenses related to its operations in RMB and Japanese Yen, respectively. Net cash flows are converted to and from U.S. Dollars through the spot market. The Company also has cash receipts under leases denominated in RMB, Japanese Yen, Canadian Dollars and Euros which are converted to U.S. Dollars through the spot market. In addition, because IMAX films generate box office in 87 different countries, unfavorable exchange rates between applicable local currencies and the U.S. Dollar could have an impact on box-office receipts and the Company's revenues and results of operations. The Company’s policy is to not use any financial instruments for trading or other speculative purposes. The Company has entered into a series of foreign currency forward contracts to manage the risks associated with the volatility of foreign currencies. Certain of these foreign currency forward contracts met the criteria required for hedge accounting under the Derivatives and Hedging Topic of the FASB ASC at inception, and continue to meet hedge effectiveness tests at March 31, 2022 (the “Foreign Currency Hedges”), with settlement dates throughout 2023 . Foreign currency derivatives are recognized and measured in the Condensed Consolidated Balance Sheets at fair value. Changes in the fair value (i.e., gains or losses) are recognized in the Condensed Consolidated Statements of Operations except for derivatives designated and qualifying as foreign currency cash flow hedging instruments. The Company currently has cash flow hedging instruments associated with Selling, General and Administrative Expenses. For foreign currency cash flow hedging instruments related to Selling, General and Administrative Expenses, the effective portion of the gain or loss in a hedge of a forecasted transaction is reported in Accumulated Other Comprehensive Income and reclassified to the Condensed Consolidated Statements of Operations when the forecasted transaction occurs. Any ineffective portion is recognized immediately in the Condensed Consolidated Statements of Operations. The following tabular disclosures reflect the impact that derivative instruments and hedging activities have on the Company’s Condensed Consolidated Financial Statements: Notional value of foreign exchange contracts : March 31, December 31, (In thousands of U.S. Dollars) 2022 2021 Derivatives designated as hedging instruments: Foreign exchange contracts — Forwards $ 23,569 $ 26,702 Fair value of derivatives in foreign exchange contracts : March 31, December 31, (In thousands of U.S. Dollars) Balance Sheet Location 2022 2021 Derivatives designated as hedging instruments: Foreign exchange contracts — Forwards Other assets $ 423 $ 184 Accrued and other liabilities — ( 105 ) $ 423 $ 79 Derivatives in foreign currency hedging relationships are as follows : Three Months Ended March 31, (In thousands of U.S. Dollars) 2022 2021 Foreign exchange contracts Derivative Gain — Forwards Recognized in OCI (Effective Portion) $ 315 $ 295 Location of Derivative (Loss) Gain Reclassified from AOCI Three Months Ended March 31, (In thousands of U.S. Dollars) (Effective Portion) 2022 2021 Foreign exchange contracts Selling, general and — Forwards administrative expenses $ ( 29 ) $ 231 Non-designated derivatives in foreign currency relationships are as follows : Three Months Ended March 31, (In thousands of U.S. Dollars) Location of Derivative Gain 2022 2021 Foreign exchange contracts Selling, general and — Forwards administrative expenses $ — $ 22 The Company's estimated net amount of the existing gains as of March 31, 2022 is $ 0.3 million , which is expected to be reclassified to earnings within the next twelve months. (d) Investments in Equity Securities As of March 31, 2022, the Condensed Consolidated Balance Sheets includes $ 1.1 million (December 31, 2021 — $ 1.1 million ) of investments in equity securities. On January 17, 2019, IMAX China (Hong Kong), Limited, a wholly-owned subsidiary of IMAX China, as an investor entered into a cornerstone investment agreement with Maoyan Entertainment (“Maoyan”) (as the issuer) and Morgan Stanley Asia Limited (as a sponsor, underwriter and the underwriters’ representative). Pursuant to this agreement, IMAX China (Hong Kong), Limited agreed to invest $ 15.2 million to subscribe for a certain number of shares of Maoyan at the final offer price pursuant to the global offering of the share capital of Maoyan, and this investment would be subject to a lock-up period of six months following the date of the global offering. On February 4, 2019, Maoyan completed its global offering, upon which, IMAX China (Hong Kong), Limited became a less than 1 % shareholder in Maoyan. During the first quarter of 2021, IMAX China (Hong Kong), Limited sold all of its 7,949,000 shares of Maoyan for gross proceeds of $ 17.8 million and recognized $ 5.2 million gain in the Condensed Consolidated Statements of Operations. The Company has an investment of $ 1.1 million (December 31, 2021 — $ 1.1 million ) in the shares of an exchange traded fund. This investment is classified as an equity investment. As of March 31, 2022, the Company held investments in the preferred shares of enterprises which meet the criteria for classification as an equity security carried at historical cost, net of impairment charges. The carrying value of these equity security investments was $ 1.0 million at March 31, 2022 (December 31, 2021 — $ 1.0 million ) and is recorded in Other Assets. (e) Interest in Film On January 10, 2022, IMAX (Shanghai) Culture and Technology Co., Ltd, a wholly-owned subsidiary of IMAX China, signed a joint film investment agreement with Wanda Film (Horgos) Co. Ltd. to invest RMB 30.0 million ($ 4.7 million) in the movie Mozart from Space , which is expected to be released in 2022. IMAX (Shanghai) Culture and Technology Co., Ltd. has the right to receive a distribution of the income of the film in accordance with the agreement. IMAX (Shanghai) Culture and Technology Co., Ltd.'s commitment is limited to its RMB 30.0 million ($ 4.7 million) investment and has no further investment obligation if the actual movie production cost exceeds the original budget. The investment meets the criteria for classification as a financial asset. The investment is measured at amortized cost and is recorded within Other Assets in the Condensed Consolidated Balance Sheets.

Non-Controlling Interests

Non-Controlling Interests	3 Months Ended
	Mar. 31, 2022
Temporary Equity Disclosure [Abstract]
Non-Controlling Interests	17. Non-Controlling Interests (a) IMAX China Non-Controlling Interest The Company indirectly owns 71.41 % of IMAX China, whose shares trade on the Hong Kong Stock Exchange (December 31, 2021 — 71.11 %). IMAX China remains a consolidated subsidiary of the Company. As of March 31, 2022, the balance of the Company’s non-controlling interest in IMAX China is $ 74.1 million (December 31, 2021 — $ 73.5 million). For the three months ended March 31, 2022, the net income attributable to the non-controlling interest in IMAX China is $ 1.7 million (2021 — $ 4.3 million ). (b) Other Non-Controlling Interest The Company’s Original Film Fund was established in 2014 to co-finance a portfolio of 10 original large-format films. The initial investment in the Original Film Fund was committed by a third party in the amount of $ 25.0 million, with the possibility of contributing additional funds. The Company has contributed $ 9.0 million to the Original Film Fund since 2014 and has reached its maximum contribution. As of March 31, 2022, the Original Film Fund has invested $ 22.3 million toward the development of original films. The related production, financing and distribution agreement includes put and call rights relating to change of control of the rights, title and interest in the co-financed pictures. (c) Non-Controlling Interest in Temporary Equity The following table summarizes the movement of the non-controlling interest in temporary equity related to the Original Film Fund for the three months ended March 31, 2022 and 2021: March 31, (In thousands of U.S. Dollars) 2022 2021 Beginning balance $ 758 $ 759 Net income (loss) 3 ( 9 ) Ending balance $ 761 $ 750

Basis of Presentation (Policies

Basis of Presentation (Policies)	3 Months Ended
	Mar. 31, 2022
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Accounting Principles	Accounting Principles IMAX Corporation, together with its consolidated subsidiaries (the “Company”), prepares its financial statements in accordance with United States Generally Accepted Accounting Principles (“U.S. GAAP”) and pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted from this report, as is permitted by such rules and regulations. In the Company’s opinion, the unaudited Condensed Consolidated Financial Statements reflect all adjustments of a normal recurring nature that are necessary for a fair statement of the results for the interim periods presented. The Condensed Consolidated Balance Sheet at December 31, 2021 was derived from the Company’s audited annual Consolidated Financial Statements, but does not contain all of the footnote disclosures included in the annual financial statements. The interim results presented in the Company’s Condensed Consolidated Statements of Operations are not necessarily indicative of results for a full year. These Condensed Consolidated Financial Statements should be read in conjunction with the audited Consolidated Financial Statements included in the Company’s 2021 Annual Report on Form 10-K (the “2021 Form 10-K”), which should be consulted for a summary of the significant accounting policies utilized by the Company. The Condensed Consolidated Financial Statements are prepared following the same accounting policies disclosed in the 2021 Form 10-K.
Revision of Prior Period Amounts and Other Reclassifications	Revision of prior period amounts and other reclassifications In the Condensed Consolidated Statements of Shareholders’ Equity, the Company revised the March 31, 2021 balances of Total Shareholders’ Equity Attributable to Common Shareholders and Non-Controlling Interests. The revisions were principally made to properly reflect changes in the Company’s ownership interest in IMAX China Holding, Inc. ("IMAX China") as a result of common share repurchases made by IMAX China and the amortization of share-based compensation related to IMAX China. The revisions resulted in a reclassification of $ 8.5 million between the balances of Other Equity and Non-Controlling Interests as of March 31, 2021. There is no change in Total Shareholders’ Equity as a result of the revisions. (See Note 3(a) of Notes to Consolidated Financial Statements in Part II, Item 8 of the Company's 2021 Form 10-K).
Principles of Consolidation	Principles of Consolidation These Condensed Consolidated Financial Statements include the accounts of the Company together with its consolidated subsidiaries, except for subsidiaries which have been identified as variable interest entities (“VIEs”) where the Company is not the primary beneficiary. All intercompany accounts and transactions have been eliminated. The Company has evaluated its various variable interests to determine whether they are VIEs as required by U.S. GAAP. The Company has interests in ten film production companies, which have been identified as VIEs. The Company is the primary beneficiary of and consolidates five of these entities as it has the power to direct the activities that most significantly impact the economic performance of the VIE, and it has the obligation to absorb losses or the right to receive benefits from the respective VIE that could potentially be significant. The majority of the assets relating to these production companies are held by the IMAX Original Film Fund (the “Original Film Fund”) as described in Note 17(b). The Company does not consolidate the other five film production companies because it does not have the power to direct their activities and it does not have the obligation to absorb the majority of the expected losses or the right to receive expected residual returns. The Company uses the equity method of accounting for these entities, which are not material to the Company’s Condensed Consolidated Financial Statements. A loss in the value of an equity method investment that is other than temporary is recognized as a charge in the Condensed Consolidated Statement of Operations. As of March 31, 2022, total assets and liabilities of the Company’s consolidated VIEs are as follows: March 31, December 31, (In thousands of U.S. Dollars) 2022 2021 Total assets $ 1,581 $ 1,576 Total liabilities $ 257 $ 259
Estimates and Assumptions	Estimates and Assumptions In preparing the Company’s Condensed Consolidated Financial Statements, management makes judgments in applying various accounting policies. The areas of policy judgment are consistent with those reported in Note 3(c) of the Company's audited Consolidated Financial Statements included in its 2021 Form 10-K. In addition, management makes assumptions about the Company’s future operating results and cash flows in deriving critical accounting estimates used in preparing the Condensed Consolidated Financial Statements. The significant estimates made by management include, but are not limited to: (i) the allocation of the transaction price in an IMAX Theater System arrangement to distinct performance obligations; (ii) the amount of variable consideration to be earned on sales of IMAX Theater Systems based on projections of future box office performance ; (iii) expected credit losses on accounts receivable, financing receivables, and variable consideration receivables; (iv) provisions for the write-down of excess and obsolete inventory; (v) the fair values of the reporting units used in assessing the recoverability of goodwill; (vi) the cash flow projections used in testing the recoverability of long-lived assets such as the theater system equipment supporting joint revenue sharing arrangements ; (vii) the economic lives of the theater system equipment supporting joint revenue sharing arrangements; (viii) the useful lives of intangible assets; (ix) the ultimate revenue forecasts used to test the recoverability of film assets ; (x) the discount rates used to determine the present value of financing receivables and lease liabilities, as well as to determine the fair values of the Company’s reporting units for the purpose of assessing the recoverability of goodwill ; (xi) pension plan assumptions; (xii) estimates related to the fair value and projected vesting of share-based payment awards; (xiii) the valuation of deferred income tax assets; and (xiv) reserves related to uncertain tax positions. The impact of the COVID-19 pandemic is complex and continuously evolving, resulting in significant disruption to the Company’s business and the global economy, as described in Note 2. Although management is encouraged by the broad reopening of the IMAX theater network, the continued progress towards the resumption of normal theater operations, normal film release schedules, and recent box office results, there continues to be risk and uncertainty relating to the judgments, assumptions, and estimates used by management in preparing the Company’s Condensed Consolidated Financial Statements. In response to the ongoing conflict between Russia and Ukraine, Canada, the United States, and other countries in which the Company operates have imposed broad sanctions and other restrictive actions against governmental and other entities in Russia, which in turn have and may continue to have an adverse impact on the Company’s business and results of operations in affected regions. Additionally, given the global nature of the Company’s operations, any protracted conflict or the broader macroeconomic impact of the Russia-Ukraine conflict and sanctions imposed on Russia could have an adverse impact on the Company’s business, results of operations, and financial condition. As of March 31, 2022, the current IMAX network includes 54 theaters in Russia, 9 theaters in Ukraine, and 1 theater in Belarus, and the Company's backlog includes 14 theaters in Russia, 1 theater in Ukraine, and 7 theaters in Belarus with a total value of $ 25.6 million. As a result of the ongoing conflict between Russia and Ukraine, there is risk and uncertainty relating to the judgments, assumptions, and estimates used by management in preparing the Company’s Condensed Consolidated Financial Statements, including estimates related to expected credit losses on accounts receivables, financing receivables and variable consideration receivables, as discussed in Note 4. In the first quarter of 2022, the Company recorded provisions for potential credit losses against its receivables in Russia due to uncertainties associated with the ongoing conflict. These receivables relate to existing sale agreements. The Company is not party to any joint revenue sharing arrangements in these countries. In addition, exhibitors in Russia, Ukraine, and Belarus were placed on nonaccrual status for maintenance revenue and finance income in the first quarter of 2022. The Company continues to monitor the evolving impacts of this conflict and its effects on the global economy and the Company.
Recently Issued Accounting Standards	In March 2020, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2020-04, “Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting” (“ASU 2020-04”). The purpose of ASU 2020-04 is to provide optional expedients and exceptions for applying U.S. GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. ASU 2020-04 is effective for all entities from the beginning of an interim period that includes the issuance date of the ASU. An entity may elect to apply ASU 2020-04 prospectively through December 31, 2022. As of March 31, 2022, the Company is not party to any contracts that reference the London Interbank Offered Rate (LIBOR). Accordingly, the Company does not expect ASU 2020-04 to have a material effect on its Condensed Consolidated Financial Statements. In November 2021, the FASB issued ASU No. 2021-10, “2021-10: Government Assistance (Topic 832): Disclosures by Business Entities about Government Assistance” (“ASU 2021-10”). ASU 2021-10 requires annual disclosures about transactions with a government that are accounted for by applying a grant or contribution accounting model by analogy. ASU 2021-10 is effective for annual periods beginning after December 15, 2021. Early adoption is permitted. The Company will adopt ASU 2021-10 for the year ending December 31, 2022 and will provide the required disclosures, if material. In March 2022, the FASB issued ASU No. 2022-02, "2022-02: Financial Instruments—Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures" ("ASU 2022-02"). ASU 2022-02 requires that an entity disclose current-period gross write-offs by year of origination for financing receivables and net investments in leases. ASU 2022-02 is effective for annual periods beginning after December 15, 2022, including interim periods within those periods. Early adoption is permitted. The Company will adopt ASU 2022-02 in the first quarter of 2023 and will provide the required disclosures, if material. The Company considers the applicability and impact of all FASB ASUs that are recently issued, but not yet effective. ASUs that are not noted above were assessed and determined to be not applicable or not significant to the Company’s Condensed Consolidated Financial Statements for the period ended March 31, 2022 .
Credit Risk	The Company’s internal credit quality classifications for theater operators are as follows: • Good Standing — The theater operator continues to be in good standing as payments and reporting are received on a regular basis. • Credit Watch — The theater operator has demonstrated a delay in payments, but continues to be in active communication with the Company. Theater operators placed on Credit Watch are subject to enhanced monitoring. In addition, depending on the size of the outstanding balance, length of time in arrears, and other factors, future transactions may need to be approved by management. These receivables are in better condition than those in the Pre-Approved Transactions Only category, but are not in as good condition as the receivables in the Good Standing category. • Pre-Approved Transactions Only — The theater operator has demonstrated a delay in payments with little or no communication with the Company. All services and shipments to the theater operator must be reviewed and approved by management. These receivables are in better condition than those in the All Transactions Suspended category, but are not in as good condition as the receivables in the Credit Watch category. In certain situations, a theater operator may be placed on nonaccrual status and all revenue recognition related to the theater may be suspended, including the accretion of Finance Income for Financing Receivables. • All Transactions Suspended — The theater operator is severely delinquent, non-responsive or not negotiating in good faith with the Company. Once a theater operator is classified within the All Transactions Suspended category, the theater is placed on nonaccrual status and all revenue recognitions related to the theater are suspended, including the accretion of Finance Income for Financing Receivables. During the period when the accretion of Finance Income is suspended for Financing Receivables, any payments received from a customer are applied against the outstanding balance owed. If payments are sufficient to cover any unreserved receivables, a reversal of the provision is recorded to the extent of the residual cash received. Once the collectability issues are resolved and the customer has returned to being in good standing, the Company will resume recognition of Finance Income. When a customer’s aging exceeds 90 days, the Company’s policy is to perform an enhanced review to assess collectability of the theater’s past due accounts. The over 90 days past due category may be an indicator of potential impairment as up to 90 days outstanding is considered to be a reasonable time to resolve any issues. The Company develops an estimate of expected credit losses by class of receivable and customer type through a calculation that utilizes historical loss rates which are then adjusted for specific receivables that are judged to have a higher-than-normal risk profile after considering management’s internal credit quality classifications. Additional credit loss provisions are also recorded taking into account macro-economic and industry risk factors. The write-off of any billed receivable balance requires the approval of management. Management’s judgments regarding expected credit losses are based on the facts available to management and involve estimates about the future. Due to the unprecedented nature of the COVID-19 pandemic, its effect on the Company’s customers and their ability to meet their financial obligations to the Company is difficult to predict. As a result, the Company’s judgments and associated estimates of credit losses may ultimately prove, with the benefit of hindsight, to be incorrect (see Note 2). Accounts Receivable Accounts receivable principally includes amounts currently due to the Company under theater sale and sales-type lease arrangements, contingent fees owed by theater operators as a result of box office performance, and fees for theater maintenance services. Accounts receivable also includes amounts due to the Company from movie studios and other content creators principally for digitally remastering films into IMAX formats, as well as for film distribution and post-production services.
Lessee Leases	(a) IMAX Corporation as a Lessee The Company’s operating lease arrangements principally involve office and warehouse space. Office equipment is generally purchased outright. Leases with an initial term of less than 12 months are not recorded on the Condensed Consolidated Balance Sheets and the related lease expense is recognized on a straight-line basis over the lease term. Most of the Company’s leases include one or more options to renew, with renewal terms that can extend the lease term from one to five years or more. The Company has determined that it is reasonably certain that the renewal options on its warehouse leases will be exercised based on previous history, its current understanding of future business needs and its level of investment in leasehold improvements, among other factors. The incremental borrowing rate used in the calculation of the Company’s lease liabilities is based on the location of each leased property. None of the Company’s leases include options to purchase the leased property. The depreciable lives of right-of-use assets and related leasehold improvements are limited by the expected lease term. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants. The Company rents or subleases certain office space to third parties, which have a remaining term of less than 12 months and are not expected to be renewed.
Lessor Leases	(b) IMAX Corporation as a Lessor The Company provides IMAX Theater Systems to customers through long-term lease arrangements that for accounting purposes are classified as sales-type leases. Under these arrangements, in exchange for providing the IMAX Theater System, the Company earns fixed upfront and ongoing consideration. Certain arrangements that are legal sales are also classified as sales-type leases as certain clauses within the arrangements limit transfer of title or provide the Company with conditional rights to the system. The customer’s rights under the Company’s sales-type lease arrangements are described in Note 3(p) of the Company's audited Consolidated Financial Statements included in its 2021 Form 10-K. Under the Company’s sales-type lease arrangements, the customer has the ability and the right to operate the hardware components or direct others to operate them in a manner determined by the customer. The Company’s lease portfolio terms are typically non-cancellable for 10 to 20 years with renewal provisions from inception. The Company’s sales-type lease arrangements do not contain a guarantee of residual value at the end of the lease term. The customer is required to pay for executory costs such as insurance and taxes and is required to pay the Company for maintenance and an extended warranty generally after the first year of the lease until the end of the lease term. The customer is responsible for obtaining insurance coverage for the IMAX Theater System commencing on the date specified in the arrangement’s shipping terms and ending on the date the IMAX Theater System is returned to the Company. The Company also provides IMAX Theater Systems to customers through joint revenue sharing arrangements . Under the traditional form of these arrangements, in exchange for providing the IMAX Theater System under a long-term lease, the Company earns rent based on a percentage of contingent box office receipts and, in some cases, concession revenues, rather than requiring the customer to pay a fixed upfront fee or annual minimum payments. Under certain other joint revenue sharing arrangements , known as hybrid arrangements, the customer is responsible for making fixed upfront payments prior to the delivery and installation of the IMAX Theater System. Under joint revenue sharing arrangements , the customer has the ability and the right to operate the hardware components or direct others to operate them in a manner determined by the customer. The Company’s joint revenue sharing arrangements are typically non-cancellable for 10 years or longer with renewal provisions. Title to the IMAX Theater System under a joint revenue sharing arrangement generally does not transfer to the customer. The Company’s joint revenue sharing arrangements do not contain a guarantee of residual value at the end of the lease term. The customer is required to pay for executory costs such as insurance and taxes and is required to pay the Company for maintenance and an extended warranty throughout the term. The customer is responsible for obtaining insurance coverage for the IMAX Theater System commencing on the date specified in the arrangement’s shipping terms and ending on the date the IMAX Theater System is returned to the Company. The following lease payments are expected to be received by the Company for its sales-type leases and joint revenue sharing arrangements in each of the next five years and thereafter following the March 31, 2022 balance sheet date: Sales-Type Joint Revenue (In thousands of U.S. Dollars) Leases Sharing Arrangements 2022 (nine months remaining) $ 2,690 $ 142 2023 3,182 128 2024 3,094 — 2025 2,940 — 2026 2,702 — Thereafter 14,651 — Total $ 29,259 $ 270 (See Note 4 for additional information related to the net investment in leases related to the Company’s sales-type lease arrangements.)
Commitments and Contingencies	The Company is involved in lawsuits, claims, and proceedings, including those identified below, which arise in the ordinary course of business. Management is required to assess the likelihood of any adverse judgments or outcomes related to these legal contingencies, as well as potential ranges of probable or reasonably possible losses. The Company records a provision for a liability when it is probable that a loss has been incurred and the amount of the loss can be reasonably estimated. The determination of the amount of any liability recorded or disclosed is reviewed at least quarterly based on a careful analysis of each individual exposure with, in some cases, the assistance of outside legal counsel, taking into account the impact of negotiations, settlements, rulings, and other pertinent information related to the case. The amount of liabilities recorded or disclosed for these contingencies may change in the future due to changes in management’s judgments resulting from new developments or changes in settlement strategy. Any resulting adjustment to the liabilities recorded by the Company could have a material adverse effect on its results of operations, cash flows, and financial position in the period or periods in which such changes in judgment occur. The Company believes it has adequate provisions for any such matters. The Company expenses legal costs relating to its lawsuits, claims and proceedings as incurred.
Segment Reporting	The Company has the following reportable segments: (i) IMAX DMR; (ii) Joint Revenue Sharing Arrangements ("JRSA"); (iii) IMAX Systems, (iv) IMAX Maintenance; (v) Other Theater Business; (vi) Film Distribution; and (vii) Film Post-Production. The Company's activities that do not meet the criteria to be considered a reportable segment are disclosed within All Other. The Company organizes its reportable segments into the following three categories, identified by the nature of the product sold or service provided: (i) IMAX Technology Network, which earns revenue based on contingent box office receipts and includes the IMAX DMR segment and contingent rent from the JRSA segment; (ii) IMAX Technology Sales and Maintenance, which includes results from the IMAX Systems, IMAX Maintenance, and Other Theater Business segments, as well as fixed revenues from the JRSA segment; and (iii) Film Distribution and Post-Production, which includes activities related to the distribution of large-format documentary films, primarily to institutional theaters, and the distribution of exclusive experiences ranging from live performances to interactive events with leading artists and creators (through the Film Distribution segment) and the provision of film post-production and quality control services.
Fair Value of Financial Instruments	The carrying values of the Company’s Cash and Cash Equivalents, Accounts Receivable, Accounts Payable and Accrued and Other Liabilities due within one year approximate their fair values due to the short-term maturity of these instruments. Including these instruments, the Company’s financial instruments consist of the following: As of March 31, 2022 As of December 31, 2021 (In thousands of U.S. Dollars) Carrying Estimated Carrying Estimated Level 1 Cash and cash equivalents (1) $ 162,300 $ 162,300 $ 189,711 $ 189,711 Equity securities (2) 1,092 1,092 1,087 1,087 Level 2 Net financed sales receivables (3) $ 103,660 $ 103,740 $ 112,657 $ 112,662 Net investment in sales-type leases (3) 27,850 27,902 28,392 28,407 Equity securities (1) 1,000 1,000 1,000 1,000 COLI (4) 3,305 3,305 3,275 3,275 Foreign exchange contracts — designated forwards (2) 423 423 79 79 Working Capital Facility borrowings (1) ( 3,627 ) ( 3,627 ) ( 3,612 ) ( 3,612 ) Convertible Notes (5) ( 230,000 ) ( 220,618 ) ( 230,000 ) ( 223,100 ) Level 3 Interest in film classified as a financial instrument (6) $ 4,726 $ 4,726 $ — $ — (1) Recorded at cost, which approximates fair value. (2) Fair value is determined using quoted prices in active markets. (3) Fair value is estimated based on discounting future cash flows at currently available interest rates with comparable terms. (4) Measured at cash surrender value, which approximates fair value. (5) Fair value is determined using quoted market prices that are observable in the market or that could be derived from observable market data. (6) Recorded at amortized cost. Inputs used in the calculation of estimated fair value include management's projection of future box office and ancillary receipts for the film net of distribution costs and other costs in accordance with the investment agreement.

Basis of Presentation (Tables)

Basis of Presentation (Tables)	3 Months Ended
	Mar. 31, 2022
Organization Consolidation And Presentation Of Financial Statements [Abstract]
VIEs Total Assets and Liabilities	As of March 31, 2022, total assets and liabilities of the Company’s consolidated VIEs are as follows: March 31, December 31, (In thousands of U.S. Dollars) 2022 2021 Total assets $ 1,581 $ 1,576 Total liabilities $ 257 $ 259

Receivables (Tables)

Receivables (Tables)	3 Months Ended
	Mar. 31, 2022
Receivables [Abstract]
Summary of Allowance For Credit Losses Related to Accounts Receivable	The following tables summarize the activity in the allowance for credit losses related to Accounts Receivable for the three months ended March 31, 2022 and 2021: Three Months Ended March 31, 2022 (In thousands of U.S. Dollars) Theater Studios Other Total Beginning balance $ 8,867 $ 1,994 $ 1,085 $ 11,946 Current period provision, net 1,981 3 273 2,257 Write-offs — — — — Foreign exchange ( 17 ) ( 2 ) — ( 19 ) Ending balance $ 10,831 $ 1,995 $ 1,358 $ 14,184 Three Months Ended March 31, 2021 (In thousands of U.S. Dollars) Theater Studios Other Total Beginning balance $ 8,368 $ 4,481 $ 1,446 $ 14,295 Current period provision (reversal), net 599 ( 499 ) ( 249 ) ( 149 ) Write-offs ( 170 ) ( 149 ) — ( 319 ) Foreign exchange ( 14 ) ( 62 ) ( 9 ) ( 85 ) Ending balance $ 8,783 $ 3,771 $ 1,188 $ 13,742
Schedule of Financing Receivables	As of March 31, 2022 and December 31, 2021, financing receivables consist of the following: March 31, December 31, (In thousands of U.S. Dollars) 2022 2021 Net investment in leases Gross minimum payments due under sales-type leases $ 29,259 $ 29,953 Unearned finance income ( 703 ) ( 763 ) Present value of minimum payments due under sales-type leases 28,556 29,190 Allowance for credit losses ( 706 ) ( 798 ) Net investment in leases 27,850 28,392 Financed sales receivables Gross minimum payments due under financed sales 147,319 152,315 Unearned finance income ( 32,524 ) ( 34,244 ) Present value of minimum payments due under financed sales 114,795 118,071 Allowance for credit losses ( 11,135 ) ( 5,414 ) Net financed sales receivables 103,660 112,657 Total financing receivables $ 131,510 $ 141,049 Net financed sales receivables due within one year $ 27,863 $ 29,115 Net financed sales receivables due after one year 75,797 83,542 Total financed sales receivables $ 103,660 $ 112,657
Schedule of Weighted-average Remaining Lease Term and Weighted-average Interest Rate	As of March 31, 2022 and December 31, 2021, the weighted-average remaining lease term and weighted-average interest rate associated with the Company’s sales-type lease arrangements and financed sale receivables, as applicable, are as follows: March 31, December 31, 2022 2021 Weighted-average remaining lease term (in years) Sales-type lease arrangements 9.4 9.6 Weighted-average interest rate Sales-type lease arrangements 6.60 % 6.56 % Financed sales receivables 8.80 % 8.79 %
Schedule of Net Investment In Leases by Credit Quality Indicator	The tables below provide information on the Company’s net investment in leases by credit quality indicator as of March 31, 2022 and December 31, 2021. The amounts disclosed for each credit quality classification are determined on a customer-by-customer basis and include both billed and unbilled amounts. (In thousands of U.S. Dollars) By Origination Year As of March 31, 2022 2022 2021 2020 2019 2018 Prior Total Net investment in leases: Credit quality classification: In good standing $ — $ 11,040 $ 3,815 $ 7,989 $ 2,429 $ 2,412 $ 27,685 Credit Watch — — — — — — — Pre-approved transactions — — — — — — — Transactions suspended — — — — — 871 871 Total net investment in leases $ — $ 11,040 $ 3,815 $ 7,989 $ 2,429 $ 3,283 $ 28,556 (In thousands of U.S. Dollars) By Origination Year As of December 31, 2021 2021 2020 2019 2018 2017 Prior Total Net investment in leases: Credit quality classification: In good standing $ 11,030 $ 3,991 $ 7,973 $ 2,574 $ 823 $ 1,928 $ 28,319 Credit Watch — — — — — — — Pre-approved transactions — — — — — — — Transactions suspended — — — — — 871 871 Total net investment in leases $ 11,030 $ 3,991 $ 7,973 $ 2,574 $ 823 $ 2,799 $ 29,190
Schedule of Financed Sale Receivables by Credit Quality Indicator	The tables below provide information on the Company’s financed sale receivables by credit quality indicator as of March 31, 2022 and December 31, 2021. The amounts disclosed for each credit quality classification are determined on a customer-by-customer basis and include both billed and unbilled amounts. (In thousands of U.S. Dollars) By Origination Year As of March 31, 2022 2022 2021 2020 2019 2018 Prior Total Financed sales receivables: Credit quality classification: In good standing $ 1,383 $ 11,956 $ 8,011 $ 8,949 $ 12,187 $ 49,247 $ 91,733 Credit Watch — — — — — 2,086 2,086 Pre-approved transactions — — — 1,213 428 6,830 8,471 Transactions suspended — 302 143 1,321 961 9,778 12,505 Total financed sales receivables $ 1,383 $ 12,258 $ 8,154 $ 11,483 $ 13,576 $ 67,941 $ 114,795 (In thousands of U.S. Dollars) By Origination Year As of December 31, 2021 2021 2020 2019 2018 2017 Prior Total Financed sales receivables: Credit quality classification: In good standing $ 12,520 $ 8,251 $ 10,593 $ 13,278 $ 12,615 $ 47,950 $ 105,207 Credit Watch — — — — 321 1,292 1,613 Pre-approved transactions — — 743 418 2,098 3,650 6,909 Transactions suspended — — 335 — 680 3,327 4,342 Total financed sales receivables $ 12,520 $ 8,251 $ 11,671 $ 13,696 $ 15,714 $ 56,219 $ 118,071
Schedule of Aging Analysis for Net Investment in Leases and Financed Sale Receivables	The following tables provide an aging analysis for the Company’s net investment in leases and financed sale receivables as of March 31, 2022 and December 31, 2021: As of March 31, 2022 (In thousands of U.S. Dollars) Accrued 30-89 90+ Billed Unbilled Recorded Allowance Net Net investment in leases $ 248 $ 364 $ 1,112 $ 1,724 $ 26,832 $ 28,556 $ ( 706 ) $ 27,850 Financed sales receivables 1,256 2,438 6,842 10,536 104,259 114,795 ( 11,135 ) 103,660 Total $ 1,504 $ 2,802 $ 7,954 $ 12,260 $ 131,091 $ 143,351 $ ( 11,841 ) $ 131,510 As of December 31, 2021 (In thousands of U.S. Dollars) Accrued 30-89 90+ Billed Unbilled Recorded Allowance Net Net investment in leases $ 225 $ 156 $ 1,267 $ 1,648 $ 27,542 $ 29,190 $ ( 798 ) $ 28,392 Financed sales receivables 1,750 989 8,378 11,117 106,954 118,071 ( 5,414 ) 112,657 Total $ 1,975 $ 1,145 $ 9,645 $ 12,765 $ 134,496 $ 147,261 $ ( 6,212 ) $ 141,049
Schedule of Net Investment in Leases and Financed Sale Receivables with Billed Amounts Past Due Continues to Accrue Finance Income	The following tables provide information about the Company’s net investment in leases and financed sale receivables with billed amounts past due for which it continues to accrue finance income as of March 31, 2022 and December 31, 2021. The amounts disclosed for each credit quality classification are determined on a customer-by-customer basis and include both billed and unbilled amounts. As of March 31, 2022 (In thousands of U.S. Dollars) Accrued 30-89 Days 90+ Days Billed Unbilled Allowance Net Net investment in leases $ 144 $ 320 $ 1,134 $ 1,598 $ 14,084 $ ( 167 ) $ 15,515 Financed sales receivables 599 1,355 5,388 7,342 36,354 ( 976 ) 42,720 Total $ 743 $ 1,675 $ 6,522 $ 8,940 $ 50,438 $ ( 1,143 ) $ 58,235 As of December 31, 2021 (In thousands of U.S. Dollars) Accrued 30-89 Days 90+ Days Billed Unbilled Allowance Net Net investment in leases $ 143 $ 132 $ 825 $ 1,100 $ 12,619 $ ( 176 ) $ 13,543 Financed sales receivables 959 729 6,190 7,878 41,439 ( 1,413 ) 47,904 Total $ 1,102 $ 861 $ 7,015 $ 8,978 $ 54,058 $ ( 1,589 ) $ 61,447
Schedule of Net Investment in Leases and Financed Sale Receivables on Nonaccrual Status	The following table provides information about the Company’s net investment in leases and financed sale receivables that are on nonaccrual status as of March 31, 2022 and December 31, 2021: As of March 31, 2022 As of December 31, 2021 (In thousands of U.S. Dollars) Recorded Allowance Net Recorded Allowance Net Net investment in leases $ 871 $ ( 304 ) $ 567 $ 871 $ ( 309 ) $ 562 Net financed sales receivables 18,290 ( 9,208 ) 9,082 8,642 ( 2,357 ) 6,285 Total $ 19,161 $ ( 9,512 ) $ 9,649 $ 9,513 $ ( 2,666 ) $ 6,847
Summary of Allowance for Credit Losses Related to Net Investment in Leases and Financed Sale Receivables	The f ollowing tables summarize the activity in the allowance for credit losses related to the Company’s net investment in leases and financed sale receivables for the three months ended March 31, 2022 and 2021: Three Months Ended March 31, 2022 Net Investment Financed (In thousands of U.S. Dollars) in Leases Sales Receivables Beginning balance $ 798 $ 5,414 Current period (reversal) provision, net ( 93 ) 5,708 Write-offs — — Foreign exchange 1 13 Ending balance $ 706 $ 11,135 Three Months Ended March 31, 2021 Net Investment Net Financed (In thousands of U.S. Dollars) in Leases Sales Receivables Beginning balance $ 557 $ 7,274 Current period provision, net 27 227 Write-offs — — Foreign exchange ( 3 ) ( 10 ) Ending balance $ 581 $ 7,491
Summary of Allowance For Credit Losses Related to Variable Consideration Receivables	The following table summarizes the activity in the allowance for credit losses related to Variable Consideration Receivables for the three months ended March 31, 2022 and 2021: Three Months Ended March 31, 2022 2021 (In thousands of U.S. Dollars) Theater Theater Beginning balance $ 1,082 $ 1,887 Current period (reversal) provision, net ( 643 ) 200 Write-offs — — Foreign exchange — 1 Ending balance $ 439 $ 2,088

Lease Arrangements (Tables)

Lease Arrangements (Tables)	3 Months Ended
	Mar. 31, 2022
Leases [Abstract]
Components of Lease Expense	For the three months ended March 31, 2022 and 2021, the components of lease expense recorded within Selling, General and Administrative expenses are as follows: Three Months Ended March 31, (In thousands of U.S. Dollars) 2022 2021 Operating lease cost (1) $ 160 $ 172 Amortization of lease assets 693 748 Interest on lease liabilities 215 242 Total lease cost $ 1,068 $ 1,162 (1) Includes short-term leases and variable lease costs, which are not significant for the three months ended March 31, 2022 and 2021 .
Supplemental Cash and Non-Cash Flow Information Related to Leases	For the three months ended March 31, 2022 and 2021, supplemental cash and non-cash information related to leases is as follows: Three Months Ended March 31, (In thousands of U.S. Dollars) 2022 2021 Cash paid for amounts included in the measurement of lease liabilities $ 945 $ 956 Right-of-use assets obtained in exchange for lease obligations $ 217 $ 198
Lessee Operating Lease Balance Sheet Amounts and Lines	As of March 31, 2022 and December 31, 2021, supplemental balance sheet information related to leases is as follows: March 31, December 31, (In thousands of U.S. Dollars) 2022 2021 Assets Balance Sheet Classification Right-of-use assets Property, plant and equipment $ 11,650 $ 12,132 Liabilities Balance Sheet Classification Operating leases Accrued and other liabilities $ 14,130 $ 14,691
Lessee Operating Leases Weighted Average Remaining Lease Term and Weighted Average Interest Rate	As of March 31, 2022 and December 31, 2021, the weighted-average remaining lease term and weighted-average interest rate associated with the Company’s operating leases are as follows: March 31, December 31, 2022 2021 Weighted-average remaining lease term (years) 6.8 7.0 Weighted-average discount rate 5.99 % 5.97 %
Lessee Operating Lease, Maturity	As of March 31, 2022, the maturities of the Company’s operating lease liabilities are as follows: (In thousands of U.S. Dollars) 2022 (nine months remaining) $ 2,598 2023 2,461 2024 2,234 2025 2,084 2026 2,062 Thereafter 5,953 Total lease payments $ 17,392 Less: interest expense ( 3,262 ) Present value of operating lease liabilities $ 14,130
Schedule of Maturities of Lease Receivables	The following lease payments are expected to be received by the Company for its sales-type leases and joint revenue sharing arrangements in each of the next five years and thereafter following the March 31, 2022 balance sheet date: Sales-Type Joint Revenue (In thousands of U.S. Dollars) Leases Sharing Arrangements 2022 (nine months remaining) $ 2,690 $ 142 2023 3,182 128 2024 3,094 — 2025 2,940 — 2026 2,702 — Thereafter 14,651 — Total $ 29,259 $ 270

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Mar. 31, 2022
Inventory Disclosure [Abstract]
Inventories	As of March 31, 2022 and December 31, 2021, Inventories consist of the following: March 31, December 31, (In thousands of U.S. Dollars) 2022 2021 Raw materials $ 21,026 $ 20,551 Work-in-process 1,501 1,406 Finished goods 4,805 4,967 $ 27,332 $ 26,924

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Revolving Credit Facility Borrowings	As of March 31, 2022 and December 31, 2021, Revolving Credit Facility Borrowings, Net includes the following: March 31, December 31, (In thousands of U.S. Dollars) 2022 2021 Credit Facility borrowings $ — $ — Working Capital Facility borrowings 3,627 3,612 Unamortized debt issuance costs ( 2,547 ) ( 1,140 ) Revolving Credit Facility Borrowings, net $ 1,080 $ 2,472
Summary of Convertible Notes, Net	As of March 31, 2022 and December 31, 2021, Convertible Notes, Net (as defined below) consist of the following: March 31, December 31, (In thousands of U.S. Dollars) 2022 2021 Convertible Notes $ 230,000 $ 230,000 Unamortized discounts and debt issuance costs ( 5,990 ) ( 6,359 ) Convertible Notes, net $ 224,010 $ 223,641

Condensed Consolidated Statem_7

Condensed Consolidated Statements of Operations Supplemental Information (Tables)	3 Months Ended
	Mar. 31, 2022
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Summary of Selling Expenses, Including Sales Commissions and Other Selling Expenses	The following table summarizes the Company's selling expenses, including sales commissions and other selling expenses such as direct advertising and marketing expenses, which are recognized within Costs and Expenses Applicable to Revenues in the Condensed Consolidated Statements of Operations, for the three months ended March 31, 2022 and 2021: Three Months Ended March 31, 2022 2021 (In thousands of U.S. Dollars) Sales Other Sales Other Technology sales (1) $ — $ 162 $ 133 $ 141 Image enhancement and maintenance services (2) — 2,915 — 1,207 Technology rentals (3) 45 465 94 564 Total $ 45 $ 3,542 $ 227 $ 1,912 (1) Sales commissions paid prior to the recognition of the related revenue are deferred and recognized upon the client acceptance of the IMAX Theater System. Direct advertising and marketing costs for each theater are expensed as incurred. (2) Film exploitation costs, including advertising and marketing costs, are expensed as incurred. (3) Sales commissions related to joint revenue sharing arrangements accounted for as operating leases are recognized in the month they are earned by the salesperson, which is typically the month in which the theater system is installed. Direct advertising and marketing costs for each theater are expensed as incurred.

Condensed Consolidated Statem_8

Condensed Consolidated Statements of Cash Flows Supplemental Information (Tables)	3 Months Ended
	Mar. 31, 2022
Supplemental Cash Flow Elements [Abstract]
Summary of Changes in Other Operating Assets and Liabilities	Three Months Ended March 31, (In thousands of U.S. Dollars) 2022 2021 Decrease (increase) in: Financing receivables $ 3,916 $ 1,271 Prepaid expenses ( 2,413 ) ( 2,996 ) Variable consideration receivables 829 ( 569 ) Other assets 209 ( 470 ) Increase (decrease) in: Accounts payable 2,184 ( 4,538 ) Accrued and other liabilities ( 14,911 ) 3,147 $ ( 10,186 ) $ ( 4,155 )
Summary of Depreciation and Amortization	Three Months Ended March 31, (In thousands of U.S. Dollars) 2022 2021 Film assets $ 3,178 $ 2,494 Property, plant and equipment: Equipment supporting joint revenue sharing arrangements 5,548 5,743 Other property, plant and equipment 2,028 2,476 Other intangible assets (1) 1,532 1,471 Other assets (2) 455 494 $ 12,741 $ 12,678 (1) Includes the amortization of licenses and intellectual property recorded in Research and Development on the Condensed Consolidated Statement of Operations of $ 0.3 million in the three months ended March 31, 2022 ( 2021 — $ 0.3 million ). (2) Includes the amortization of lessee incentives provided by the Company to its customers under joint revenue sharing arrangements.
Write-downs	Three Months Ended March 31, (In thousands of U.S. Dollars) 2022 2021 Inventories (1) $ 12 $ 103 Property, plant and equipment: Equipment supporting joint revenue sharing arrangements (2) 202 151 Other property, plant and equipment 2 3 Film assets (3) 165 ( 44 ) $ 381 $ 213 (1) In the three months ended March 31, 2022 , the Company recorded write-downs of less than $ 0.1 million ( 2021 — $ 0.1 million ) in Costs and Expenses Applicable to Technology Sales related to excess and obsolete inventory. (2) In the three months ended March 31, 2022, the Company recorded charges of $ 0.2 million (2021 — $ 0.2 million ) in Costs and Expenses Applicable to Technology Rentals mostly related to the write-down of leased xenon-based digital systems which were taken out of service in connection with customer upgrades to laser-based digital systems. (3) In the three months ended March 31, 2022, the Company recorded impairment losses of $ 0.2 million (2021 — $ nil ) related to the write-down of DMR and Film Distribution related film assets.
Significant Non-cash Investing Activities	Three Months Ended March 31, (In thousands of U.S. Dollars) 2022 2021 Net increase (decrease) in accruals related to: Investment in equipment supporting joint revenue sharing arrangements $ 1,133 $ 117 Acquisition of other intangible assets 32 ( 858 ) $ 1,165 $ ( 741 )

Income Taxes (Tables)

Income Taxes (Tables)	3 Months Ended
	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Schedule of Effective Tax Rates	For the three months ended March 31, 2022, the Company recorded income tax expense of $ 2.6 million (2021 — $ 3.1 million ). For the three months ended March 31, 2022, the Company’s effective tax rate differs from the combined Canadian federal and provincial statutory income tax rate due to the following factors: Three Months Ended Three Months Ended March 31, 2022 March 31, 2021 (In thousands of U.S. Dollars, except rates) Amount Rate Amount Rate Income tax benefit at combined statutory rates $ 2,475 26.5 % $ 1,969 26.5 % Adjustments resulting from: Increase in valuation allowance ( 5,009 ) ( 53.6 %) ( 6,971 ) ( 93.8 %) (Shortfall) excess tax benefits related to share-based compensation ( 129 ) ( 1.4 %) 741 10.0 % Changes to tax reserves ( 160 ) ( 1.7 %) 557 7.5 % Gain on sale of Maoyan investment not taxable — — 1,367 18.4 % Withholding taxes resulting from management's decision to no longer indefinitely reinvest the historical earnings of certain foreign subsidiaries — — ( 547 ) ( 7.4 %) Other non-deductible/non-taxable items 213 2.3 % ( 184 ) ( 2.5 %) Income tax expense $ ( 2,610 ) ( 27.9 %) $ ( 3,068 ) ( 41.3 %)
Income Tax Expense in Other Comprehensive Income (Loss)	For the three months ended March 31, 2022 and 2021, the Income Tax Expense related to the components of Other Comprehensive Income (Loss) is as follows: Three Months Ended March 31, (In thousands of U.S. Dollars) 2022 2021 Unrealized change in cash flow hedging instruments $ ( 82 ) $ ( 77 ) Realized change in cash flow hedging instruments ( 8 ) 60 Reclassification of unrealized change in ineffective cash flow hedging instruments — 6 Defined benefit and postretirement benefit plans ( 12 ) ( 13 ) $ ( 102 ) $ ( 24 )

Capital Stock and Reserves (Tab

Capital Stock and Reserves (Tables)	3 Months Ended
	Mar. 31, 2022
Equity [Abstract]
Stock Compensation	Three Months Ended March 31, (In thousands of U.S. Dollars) 2022 2021 Cost and expenses applicable to revenues $ 239 $ 294 Selling, general and administrative expenses 5,726 4,944 Research and development 87 69 $ 6,052 $ 5,307
Stock-based Compensation by Plan Type	The following table summarizes the Company’s share-based compensation expense by each award type: Three Months Ended March 31, (In thousands of U.S. Dollars) 2022 2021 Stock Options $ 207 $ 351 Restricted Share Units 3,411 3,151 Performance Stock Units 1,729 1,014 IMAX China Stock Options 34 56 IMAX China Long Term Incentive Plan Restricted Share Units 497 632 IMAX China Long Term Incentive Plan Performance Stock Units 174 103 $ 6,052 $ 5,307
Schedule of Share-based Compensation, Stock Options, Activity	The following table summarizes the activity under the Company’s Stock Option Plan (“SOP”) and the IMAX Corporation Second Amended and Restated Long-Term Incentive Plan (as may be amended, “IMAX LTIP”) for the three months ended March 31, 2022 and 2021: Number of Shares Weighted Average Exercise 2022 2021 2022 2021 Stock options outstanding, beginning of period 3,736,157 4,892,962 $ 26.61 $ 26.81 Granted — — — — Exercised — ( 38,754 ) — 21.26 Forfeited — ( 44,362 ) — 23.12 Expired ( 126,569 ) ( 885,698 ) 33.61 28.31 Cancelled ( 2,197 ) ( 10,917 ) 32.50 27.20 Stock options outstanding, end of period 3,607,391 3,913,231 26.36 26.56 Stock options exercisable, end of period 3,524,298 3,615,079 26.45 26.93
Restricted Stock Units Activity under the IMAX LTIP	The following table summarizes the activity in respect of RSUs issued under the IMAX LTIP for the three months ended March 31, 2022 and 2021: Number of Awards Weighted Average Grant Date 2022 2021 2022 2021 RSUs outstanding, beginning of period 1,457,883 1,564,838 $ 19.16 $ 18.33 Granted 636,427 754,778 19.64 20.94 Vested and settled ( 648,527 ) ( 523,573 ) 18.78 18.82 Forfeited ( 1,328 ) ( 60,329 ) 14.84 20.08 RSUs outstanding, end of period 1,444,455 1,735,714 19.54 19.26
Performance Stock Units Activity under the IMAX LTIP	The following table summarizes the activity in respect of PSUs issued under the IMAX LTIP for the three months ended March 31, 2022 and 2021: Number of Awards Weighted Average Grant Date 2022 2021 2022 2021 PSUs outstanding, beginning of period 613,405 361,844 $ 18.21 $ 15.68 Granted 359,138 308,438 20.34 20.77 Forfeited — ( 2,526 ) — 14.84 PSUs outstanding, end of period 972,543 667,756 19.00 18.03
Basic and Diluted Per-share Computations	The following table reconciles the denominator of the basic and diluted weighted average share computations: Three Months Ended March 31, (In thousands) 2022 2021 Issued and outstanding, beginning of period 58,654 58,921 Weighted average number of shares (repurchased) issued, net ( 80 ) 91 Weighted average number of shares outstanding — basic 58,574 59,012 Weighted average effect of potential common shares, if dilutive — — Weighted average number of shares outstanding — diluted 58,574 59,012

Revenue from Contracts with C_2

Revenue from Contracts with Customers (Tables)	3 Months Ended
	Mar. 31, 2022
Revenue From Contract With Customer [Abstract]
Disaggregation of Revenue by Segment	The following tables summarize the Company’s revenues by type and reportable segment for the three months ended March 31, 2022 and 2021: Three Months Ended March 31, 2022 Revenue from Contracts with Customers Revenue from (In thousands of U.S. Dollars) Fixed Variable Lease Finance Income Total Technology sales IMAX Systems (1) $ 5,945 $ 368 $ — $ — $ 6,313 Joint Revenue Sharing Arrangements, fixed fees — — 990 — 990 Other Theater Business 670 — — — 670 All Other 922 81 — — 1,003 Sub-total 7,537 449 990 — 8,976 Image enhancement and maintenance services IMAX DMR — 19,564 — — 19,564 IMAX Maintenance 14,942 — — — 14,942 Film Distribution 144 437 — — 581 Film Post-Production 825 — — — 825 All Other — 182 — — 182 Sub-total 15,911 20,183 — — 36,094 Technology rentals Joint Revenue Sharing Arrangements, contingent rent — — 12,643 — 12,643 All Other — — 18 — 18 Sub-total — — 12,661 — 12,661 Finance income IMAX Systems — — — 2,305 2,305 Total $ 23,448 $ 20,632 $ 13,651 $ 2,305 $ 60,036 Three Months Ended March 31, 2021 Revenue from Contracts with Customers Revenue from (In thousands of U.S. Dollars) Fixed Variable Lease Finance Income Total Technology sales IMAX Systems (1) $ 838 $ 1,080 $ 1,376 $ — $ 3,294 Joint Revenue Sharing Arrangements, fixed fees — — 1,738 — 1,738 Other Theater Business 437 — — — 437 All Other 668 38 — — 706 Sub-total 1,943 1,118 3,114 — 6,175 Image enhancement and maintenance services IMAX DMR — 11,944 — — 11,944 IMAX Maintenance 8,906 — — — 8,906 Film Distribution — 222 — — 222 Film Post-Production 591 — — — 591 All Other — ( 48 ) — — ( 48 ) Sub-total 9,497 12,118 — — 21,615 Technology rentals Joint Revenue Sharing Arrangements, contingent rent — — 8,359 — 8,359 Sub-total — — 8,359 — 8,359 Finance income IMAX Systems — — — 2,605 2,605 Total $ 11,440 $ 13,236 $ 11,473 $ 2,605 $ 38,754 (1) Includes r evenues earned from sale and sales-type lease arrangements involving new and upgraded IMAX Theater Systems, as well as the impact of renewals and amendments to existing theater system arrangements.

Segment Reporting (Tables)

Segment Reporting (Tables)	3 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
Segment Reporting Information by Category and Reportable Segment	The following table presents the Company’s revenue and gross margin (margin loss) by category and reportable segment for the three months ended March 31, 2022 and 2021: Revenue (1) Gross Margin (Margin Loss) (In thousands of U.S. Dollars) 2022 2021 2022 2021 IMAX Technology Network IMAX DMR $ 19,564 $ 11,944 $ 13,557 $ 8,251 JRSA, contingent rent 12,643 8,359 6,198 1,883 32,207 20,303 19,755 10,134 IMAX Technology Sales and Maintenance IMAX Systems (2) 8,618 5,899 3,976 3,012 JRSA, fixed fees 990 1,738 252 156 IMAX Maintenance 14,942 8,906 7,870 3,823 Other Theater Business (3) 670 437 100 63 25,220 16,980 12,198 7,054 Film Distribution and Post-Production Film Distribution 581 222 ( 1,247 ) ( 261 ) Post-Production 825 591 386 236 1,406 813 ( 861 ) ( 25 ) Sub-total for reportable segments 58,833 38,096 31,092 17,163 All Other (4) 1,203 658 679 118 Total $ 60,036 $ 38,754 $ 31,771 $ 17,281 (1) The Company’s largest customer represents 28 % of total Revenues for the three months ended March 31, 2022 (2021 — 31 %). No single customer comprises more than 10% of the Company’s total Accounts Receivable as of March 31, 2022 and December 31, 2021 . (2) The revenue from this segment includes the initial upfront payments and the present value of fixed minimum payments from sale and sales-type lease arrangements of IMAX Theater Systems, as well as the present value of estimated variable consideration from sales of IMAX Theater Systems. To a lesser extent, the revenue from this segment also includes finance income associated with these revenue streams. (3) The revenue from this segment principally includes after-market sales of IMAX Theater System parts and 3D glasses. (4) All Other includes the results from IMAX Enhanced and other ancillary activities. In the first quarter of 2022, the Company's internal reporting was updated to reclassify the results of IMAX Enhanced out of the New Business Initiatives segment into All Other for segment reporting purposes. Prior period comparatives have been revised to conform with the current period presentation.
Summary of Revenues By Geographic Area	The following table summarizes the Company's revenues by geographic area for the three months ended March 31, 2022 and 2021: Three Months Ended March 31, (In thousands of U.S. Dollars) 2022 2021 Revenue Greater China $ 21,476 $ 25,518 United States 19,067 3,699 Western Europe 7,061 1,369 Asia (excluding China) 5,767 4,302 Latin America 1,886 53 Canada (2) 1,772 ( 553 ) Russia/the CIS & Ukraine (1) 1,010 1,886 Rest of the World 1,997 2,480 Total $ 60,036 $ 38,754 (1) In addition to Russia, the CIS includes Azerbaijan, Belarus, Kazakhstan, and Kyrgyzstan. As of March 31, 2022, the IMAX network includes 54 theaters in Russia, 9 theaters in Ukraine, and 1 theater in Belarus. (2) For the three months ended March 31, 2021, the amount attributable to Canada includes a $ 0.5 m illion reversal of previously rec orded revenue and a corresponding reduction in the net investment in lease as a result of a lease modification entered into during the period.

Employees Pension and Postret_2

Employees Pension and Postretirement Benefits (Tables)	3 Months Ended
	Mar. 31, 2022
SERP Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Amounts Accrued	As of March 31, 2022 and December 31, 2021, the Company’s projected benefit obligation and unfunded status related to the SERP are as follows: March 31, December 31, (In thousands of U.S. Dollars) 2022 2021 Projected benefit obligation: Obligation, beginning of period $ 20,056 $ 20,116 Interest cost 40 72 Actuarial gain — ( 132 ) Obligation, end of period and unfunded status $ 20,096 $ 20,056

Financial Instruments (Tables)

Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2022
Derivative Instruments Gain Loss [Line Items]
Fair Value of Financial Instruments	The carrying values of the Company’s Cash and Cash Equivalents, Accounts Receivable, Accounts Payable and Accrued and Other Liabilities due within one year approximate their fair values due to the short-term maturity of these instruments. Including these instruments, the Company’s financial instruments consist of the following: As of March 31, 2022 As of December 31, 2021 (In thousands of U.S. Dollars) Carrying Estimated Carrying Estimated Level 1 Cash and cash equivalents (1) $ 162,300 $ 162,300 $ 189,711 $ 189,711 Equity securities (2) 1,092 1,092 1,087 1,087 Level 2 Net financed sales receivables (3) $ 103,660 $ 103,740 $ 112,657 $ 112,662 Net investment in sales-type leases (3) 27,850 27,902 28,392 28,407 Equity securities (1) 1,000 1,000 1,000 1,000 COLI (4) 3,305 3,305 3,275 3,275 Foreign exchange contracts — designated forwards (2) 423 423 79 79 Working Capital Facility borrowings (1) ( 3,627 ) ( 3,627 ) ( 3,612 ) ( 3,612 ) Convertible Notes (5) ( 230,000 ) ( 220,618 ) ( 230,000 ) ( 223,100 ) Level 3 Interest in film classified as a financial instrument (6) $ 4,726 $ 4,726 $ — $ — (1) Recorded at cost, which approximates fair value. (2) Fair value is determined using quoted prices in active markets. (3) Fair value is estimated based on discounting future cash flows at currently available interest rates with comparable terms. (4) Measured at cash surrender value, which approximates fair value. (5) Fair value is determined using quoted market prices that are observable in the market or that could be derived from observable market data. (6) Recorded at amortized cost. Inputs used in the calculation of estimated fair value include management's projection of future box office and ancillary receipts for the film net of distribution costs and other costs in accordance with the investment agreement.
Notional Amount of Derivative	The following tabular disclosures reflect the impact that derivative instruments and hedging activities have on the Company’s Condensed Consolidated Financial Statements: Notional value of foreign exchange contracts : March 31, December 31, (In thousands of U.S. Dollars) 2022 2021 Derivatives designated as hedging instruments: Foreign exchange contracts — Forwards $ 23,569 $ 26,702
Fair Value of Foreign Exchange Contracts	Fair value of derivatives in foreign exchange contracts : March 31, December 31, (In thousands of U.S. Dollars) Balance Sheet Location 2022 2021 Derivatives designated as hedging instruments: Foreign exchange contracts — Forwards Other assets $ 423 $ 184 Accrued and other liabilities — ( 105 ) $ 423 $ 79
Derivatives in Foreign Currency Hedging Relationships	Derivatives in foreign currency hedging relationships are as follows : Three Months Ended March 31, (In thousands of U.S. Dollars) 2022 2021 Foreign exchange contracts Derivative Gain — Forwards Recognized in OCI (Effective Portion) $ 315 $ 295 Location of Derivative (Loss) Gain Reclassified from AOCI Three Months Ended March 31, (In thousands of U.S. Dollars) (Effective Portion) 2022 2021 Foreign exchange contracts Selling, general and — Forwards administrative expenses $ ( 29 ) $ 231
Not Designated as Hedging Instrument [Member]
Derivative Instruments Gain Loss [Line Items]
Derivatives in Foreign Currency Hedging Relationships	Non-designated derivatives in foreign currency relationships are as follows : Three Months Ended March 31, (In thousands of U.S. Dollars) Location of Derivative Gain 2022 2021 Foreign exchange contracts Selling, general and — Forwards administrative expenses $ — $ 22

Non-Controlling Interests (Tabl

Non-Controlling Interests (Tables)	3 Months Ended
	Mar. 31, 2022
Temporary Equity Disclosure [Abstract]
Summary of Movement of the Non-controlling Interest in Temporary Equity Related to Original Film Fund	The following table summarizes the movement of the non-controlling interest in temporary equity related to the Original Film Fund for the three months ended March 31, 2022 and 2021: March 31, (In thousands of U.S. Dollars) 2022 2021 Beginning balance $ 758 $ 759 Net income (loss) 3 ( 9 ) Ending balance $ 761 $ 750

Basis of Presentation - Additio

Basis of Presentation - Additional Information (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)Theater	Dec. 31, 2021USD ($)	Mar. 31, 2021USD ($)
Variable Interest Entity [Line Items]
Other equity	$ 167,912	$ 174,620
Non-controlling interests	74,081	73,531
Total shareholders' equity	$ 413,321	$ 429,614	$ 434,702
Number of variable interest entities	ten
Value of theaters	$ 25,600
Russia [Member]
Variable Interest Entity [Line Items]
Number of theaters | Theater	54
Number of backlog theaters | Theater	14
Ukraine [Member]
Variable Interest Entity [Line Items]
Number of theaters | Theater	9
Number of backlog theaters | Theater	1
Belarus [Member]
Variable Interest Entity [Line Items]
Number of theaters | Theater	1
Number of backlog theaters | Theater	7
Revision of Prior Period, Reclassification, Adjustment
Variable Interest Entity [Line Items]
Other equity			8,500
Non-controlling interests			$ 8,500
Total shareholders' equity	$ 0
Variable Interest Entity, Primary Beneficiary [Member]
Variable Interest Entity [Line Items]
Number of variable interest entities primary beneficiary	five
Variable Interest Entity, Not Primary Beneficiary [Member]
Variable Interest Entity [Line Items]
Number of variable interest entities not a primary beneficiary	five

Basis of Presentation - VIEs To

Basis of Presentation - VIEs Total Assets and Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Variable Interest Entity [Line Items]
Variable Interest Entity, Consolidated, Carrying Amount, Total Assets	$ 852,048	$ 883,247
Variable Interest Entity, Consolidated, Carrying Amount, Total Liabilities	437,966	452,875
Variable Interest Entity, Primary Beneficiary [Member]
Variable Interest Entity [Line Items]
Variable Interest Entity, Consolidated, Carrying Amount, Total Assets	1,581	1,576
Variable Interest Entity, Consolidated, Carrying Amount, Total Liabilities	$ 257	$ 259

Impact of COVID-19 Pandemic - A

Impact of COVID-19 Pandemic - Additional Information (Details) - Impact of COVID-19 Pandemic [Member] - IMAX [Member] - Greater China [Member]	Apr. 26, 2022	Mar. 31, 2022
Impact Of Coronavirus Nineteen Pandemic [Line Items]
Percentage of global theater network open		52.00%
Subsequent Event [Member]
Impact Of Coronavirus Nineteen Pandemic [Line Items]
Percentage of global theater network open	65.00%

Receivables - Summary of Allowa

Receivables - Summary of Allowance For Credit Losses Related to Accounts Receivable (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Accounts Receivable Allowance For Credit Loss [Line Items]
Beginning balance	$ 11,946	$ 14,295
Current period provision (reversal), net	2,257	(149)
Write-offs		(319)
Foreign exchange	(19)	(85)
Ending balance	14,184	13,742
Theatre Operators [Member]
Accounts Receivable Allowance For Credit Loss [Line Items]
Beginning balance	8,867	8,368
Current period provision (reversal), net	1,981	599
Write-offs		(170)
Foreign exchange	(17)	(14)
Ending balance	10,831	8,783
Studios [Member]
Accounts Receivable Allowance For Credit Loss [Line Items]
Beginning balance	1,994	4,481
Current period provision (reversal), net	3	(499)
Write-offs		(149)
Foreign exchange	(2)	(62)
Ending balance	1,995	3,771
Other [Member]
Accounts Receivable Allowance For Credit Loss [Line Items]
Beginning balance	1,085	1,446
Current period provision (reversal), net	273	(249)
Foreign exchange		(9)
Ending balance	$ 1,358	$ 1,188

Receivables - Additional Inform

Receivables - Additional Information (Details) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Current Expected Credit Losses [Line Items]
Write-offs		$ 319,000
Finance Income related to the net investment in leases in nonaccrual status	$ 0	0
Finance Income related to the financed sales receivables in nonaccrual status	200,000	200,000
Finance income related to financed sale receivables with billed amounts past due	700,000	1,200,000
Maximum [Member]
Current Expected Credit Losses [Line Items]
Finance income related to net investment in leases with billed amounts past due	100,000	100,000
Foreign Movie Studios [Member]
Current Expected Credit Losses [Line Items]
Increase (decrease) in allowance for current expected credit losses, accounts receivables		(600,000)
Write-offs		300,000
Provision reversal		100,000
Theatre Operators [Member]
Current Expected Credit Losses [Line Items]
Write-offs		$ 170,000
Increase (decrease) in allowance for current expected credit losses, variable consideration receivables	(600,000)
Theatre Operators [Member] | Variable Consideration Receivables [Member]
Current Expected Credit Losses [Line Items]
Increase (decrease) investment in leases and financed sale receivables provision for current expected credit losses	5,600,000
Theatre Operators [Member] | Current Expected Credit Losses For Accounts Receivable [Member]
Current Expected Credit Losses [Line Items]
Increase (decrease) in allowance for current expected credit losses, accounts receivables	$ 2,200,000

Receivables - Schedule of Finan

Receivables - Schedule of Financing Receivables (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Net investment in leases
Gross minimum payments due under sales-type leases	$ 29,259	$ 29,953
Unearned finance income	(703)	(763)
Present value of minimum payments due under sales-type leases	28,556	29,190
Allowance for credit losses	(706)	(798)
Net investment in leases	27,850	28,392
Financed sales receivables
Gross minimum payments due under financed sales	147,319	152,315
Unearned finance income	(32,524)	(34,244)
Present value of minimum payments due under financed sales	114,795	118,071
Allowance for credit losses	(11,135)	(5,414)
Net financed sales receivables	103,660	112,657
Total financing receivables	131,510	141,049
Net financed sales receivables due within one year	27,863	29,115
Net financed sales receivables due after one year	75,797	83,542
Net financed sales receivables	$ 103,660	$ 112,657

Receivables - Schedule of Weigh

Receivables - Schedule of Weighted-average Remaining Lease Term and Weighted-average Interest Rate (Details)	3 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Weighted-average remaining lease term (in years)
Sales-type lease arrangements	9 years 4 months 24 days	9 years 7 months 6 days
Weighted-average interest rate
Sales-type lease arrangements	6.60%	6.56%
Financed sales receivables	8.80%	8.79%

Receivables - Schedule of Net I

Receivables - Schedule of Net Investment In Leases by Credit Quality Indicator (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Net Investment In Lease Credit Quality Indicator [Line Items]
Net investment leases, By Origination Year, Current fiscal year		$ 11,030
Net investment leases, By Origination Year, Before latest fiscal year	$ 11,040	3,991
Net investment leases, By Origination Year, Two years before latest fiscal year	3,815	7,973
Net investment leases, By Origination Year, Three years before latest fiscal year	7,989	2,574
Net investment leases, By Origination Year, Four years before latest fiscal year	2,429	823
Net investment leases, By Origination Year, Prior	3,283	2,799
Net Investment in Lease, Total	28,556	29,190
In Good Standing [Member]
Net Investment In Lease Credit Quality Indicator [Line Items]
Net investment leases, By Origination Year, Current fiscal year		11,030
Net investment leases, By Origination Year, Before latest fiscal year	11,040	3,991
Net investment leases, By Origination Year, Two years before latest fiscal year	3,815	7,973
Net investment leases, By Origination Year, Three years before latest fiscal year	7,989	2,574
Net investment leases, By Origination Year, Four years before latest fiscal year	2,429	823
Net investment leases, By Origination Year, Prior	2,412	1,928
Net Investment in Lease, Total	27,685	28,319
Transactions Suspended [Member]
Net Investment In Lease Credit Quality Indicator [Line Items]
Net investment leases, By Origination Year, Prior	871	871
Net Investment in Lease, Total	$ 871	$ 871

Receivables - Schedule of Fin_2

Receivables - Schedule of Financed Sale Receivables by Credit Quality Indicator (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Financing Receivable Recorded Investment [Line Items]
Financed sales receivables, By Origination Year, Current fiscal year	$ 1,383	$ 12,520
Financed sales receivables, By Origination Year, Before lastest fiscal year	12,258	8,251
Financed sales receivables, By Origination Year, Two year before latest fiscal year	8,154	11,671
Financed sales receivables, By Origination Year, Three year before latest fiscal year	11,483	13,696
Financed sales receivables, By Origination Year, Four year before latest fiscal year	13,576	15,714
Financed sales receivables, By Origination Year, Prior	67,941	56,219
Financed sales receivables, Total	143,351	147,261
Financing Receivable [Member]
Financing Receivable Recorded Investment [Line Items]
Financed sales receivables, Total	114,795	118,071
In Good Standing [Member]
Financing Receivable Recorded Investment [Line Items]
Financed sales receivables, By Origination Year, Current fiscal year	1,383	12,520
Financed sales receivables, By Origination Year, Before lastest fiscal year	11,956	8,251
Financed sales receivables, By Origination Year, Two year before latest fiscal year	8,011	10,593
Financed sales receivables, By Origination Year, Three year before latest fiscal year	8,949	13,278
Financed sales receivables, By Origination Year, Four year before latest fiscal year	12,187	12,615
Financed sales receivables, By Origination Year, Prior	49,247	47,950
In Good Standing [Member] | Financing Receivable [Member]
Financing Receivable Recorded Investment [Line Items]
Financed sales receivables, Total	91,733	105,207
Credit Watch [Member]
Financing Receivable Recorded Investment [Line Items]
Financed sales receivables, By Origination Year, Four year before latest fiscal year		321
Financed sales receivables, By Origination Year, Prior	2,086	1,292
Credit Watch [Member] | Financing Receivable [Member]
Financing Receivable Recorded Investment [Line Items]
Financed sales receivables, Total	2,086	1,613
Pre-Approved Transactions [Member]
Financing Receivable Recorded Investment [Line Items]
Financed sales receivables, By Origination Year, Two year before latest fiscal year		743
Financed sales receivables, By Origination Year, Three year before latest fiscal year	1,213	418
Financed sales receivables, By Origination Year, Four year before latest fiscal year	428	2,098
Financed sales receivables, By Origination Year, Prior	6,830	3,650
Pre-Approved Transactions [Member] | Financing Receivable [Member]
Financing Receivable Recorded Investment [Line Items]
Financed sales receivables, Total	8,471	6,909
Transactions Suspended [Member]
Financing Receivable Recorded Investment [Line Items]
Financed sales receivables, By Origination Year, Before lastest fiscal year	302
Financed sales receivables, By Origination Year, Two year before latest fiscal year	143	335
Financed sales receivables, By Origination Year, Three year before latest fiscal year	1,321
Financed sales receivables, By Origination Year, Four year before latest fiscal year	961	680
Financed sales receivables, By Origination Year, Prior	9,778	3,327
Transactions Suspended [Member] | Financing Receivable [Member]
Financing Receivable Recorded Investment [Line Items]
Financed sales receivables, Total	$ 12,505	$ 4,342

Receivables - Schedule of Aging

Receivables - Schedule of Aging Analysis for Net Investment in Leases and Financed Sale Receivables (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020
Financing Receivable Recorded Investment Current And Past Due [Line Items]
Billed	$ 12,260	$ 12,765
Unbilled	131,091	134,496
Financed sales receivables, Total	143,351	147,261
Allowance for Credit Losses	(11,841)	(6,212)
Total financing receivables	131,510	141,049
Net Investment in Leases [Member]
Financing Receivable Recorded Investment Current And Past Due [Line Items]
Billed	1,724	1,648
Unbilled	26,832	27,542
Financed sales receivables, Total	28,556	29,190
Allowance for Credit Losses	(706)	(798)	$ (581)	$ (557)
Total financing receivables	27,850	28,392
Net Financed Sales Receivables [Member]
Financing Receivable Recorded Investment Current And Past Due [Line Items]
Billed	10,536	11,117
Unbilled	104,259	106,954
Financed sales receivables, Total	114,795	118,071
Allowance for Credit Losses	(11,135)	(5,414)	$ (7,491)	$ (7,274)
Total financing receivables	103,660	112,657
Accrued and Current [Member]
Financing Receivable Recorded Investment Current And Past Due [Line Items]
Billed	1,504	1,975
Accrued and Current [Member] | Net Investment in Leases [Member]
Financing Receivable Recorded Investment Current And Past Due [Line Items]
Billed	248	225
Accrued and Current [Member] | Net Financed Sales Receivables [Member]
Financing Receivable Recorded Investment Current And Past Due [Line Items]
Billed	1,256	1,750
30 to 89 Days Past Due [Member]
Financing Receivable Recorded Investment Current And Past Due [Line Items]
Billed	2,802	1,145
30 to 89 Days Past Due [Member] | Net Investment in Leases [Member]
Financing Receivable Recorded Investment Current And Past Due [Line Items]
Billed	364	156
30 to 89 Days Past Due [Member] | Net Financed Sales Receivables [Member]
Financing Receivable Recorded Investment Current And Past Due [Line Items]
Billed	2,438	989
Equal To Greater Than 90 Days Past Due [Member]
Financing Receivable Recorded Investment Current And Past Due [Line Items]
Billed	7,954	9,645
Equal To Greater Than 90 Days Past Due [Member] | Net Investment in Leases [Member]
Financing Receivable Recorded Investment Current And Past Due [Line Items]
Billed	1,112	1,267
Equal To Greater Than 90 Days Past Due [Member] | Net Financed Sales Receivables [Member]
Financing Receivable Recorded Investment Current And Past Due [Line Items]
Billed	$ 6,842	$ 8,378

Receivables - Schedule of Net_2

Receivables - Schedule of Net Investment in Leases and Financed Sale Receivables with Billed Amounts Past Due Continues to Accrue Finance Income (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020
Financing Receivable Recorded Investment Past Due [Line Items]
Billed	$ 12,260	$ 12,765
Unbilled	131,091	134,496
Allowance for Credit Losses	(11,841)	(6,212)
Total financing receivables	131,510	141,049
Net Investment in Leases [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Billed	1,724	1,648
Unbilled	26,832	27,542
Allowance for Credit Losses	(706)	(798)	$ (581)	$ (557)
Total financing receivables	27,850	28,392
Net Financed Sales Receivables [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Billed	10,536	11,117
Unbilled	104,259	106,954
Allowance for Credit Losses	(11,135)	(5,414)	$ (7,491)	$ (7,274)
Total financing receivables	103,660	112,657
Accrued and Current [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Billed	1,504	1,975
Accrued and Current [Member] | Net Investment in Leases [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Billed	248	225
Accrued and Current [Member] | Net Financed Sales Receivables [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Billed	1,256	1,750
30 to 89 Days Past Due [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Billed	2,802	1,145
30 to 89 Days Past Due [Member] | Net Investment in Leases [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Billed	364	156
30 to 89 Days Past Due [Member] | Net Financed Sales Receivables [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Billed	2,438	989
Equal To Greater Than 90 Days Past Due [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Billed	7,954	9,645
Equal To Greater Than 90 Days Past Due [Member] | Net Investment in Leases [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Billed	1,112	1,267
Equal To Greater Than 90 Days Past Due [Member] | Net Financed Sales Receivables [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Billed	6,842	8,378
Net Investment in Leases and Financed Sale Receivables Continue to Accrue Finance Income [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Billed	8,940	8,978
Unbilled	50,438	54,058
Allowance for Credit Losses	(1,143)	(1,589)
Total financing receivables	58,235	61,447
Net Investment in Leases and Financed Sale Receivables Continue to Accrue Finance Income [Member] | Net Investment in Leases [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Billed	1,598	1,100
Unbilled	14,084	12,619
Allowance for Credit Losses	(167)	(176)
Total financing receivables	15,515	13,543
Net Investment in Leases and Financed Sale Receivables Continue to Accrue Finance Income [Member] | Net Financed Sales Receivables [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Billed	7,342	7,878
Unbilled	36,354	41,439
Allowance for Credit Losses	(976)	(1,413)
Total financing receivables	42,720	47,904
Net Investment in Leases and Financed Sale Receivables Continue to Accrue Finance Income [Member] | Accrued and Current [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Billed	743	1,102
Net Investment in Leases and Financed Sale Receivables Continue to Accrue Finance Income [Member] | Accrued and Current [Member] | Net Investment in Leases [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Billed	144	143
Net Investment in Leases and Financed Sale Receivables Continue to Accrue Finance Income [Member] | Accrued and Current [Member] | Net Financed Sales Receivables [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Billed	599	959
Net Investment in Leases and Financed Sale Receivables Continue to Accrue Finance Income [Member] | 30 to 89 Days Past Due [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Billed	1,675	861
Net Investment in Leases and Financed Sale Receivables Continue to Accrue Finance Income [Member] | 30 to 89 Days Past Due [Member] | Net Investment in Leases [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Billed	320	132
Net Investment in Leases and Financed Sale Receivables Continue to Accrue Finance Income [Member] | 30 to 89 Days Past Due [Member] | Net Financed Sales Receivables [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Billed	1,355	729
Net Investment in Leases and Financed Sale Receivables Continue to Accrue Finance Income [Member] | Equal To Greater Than 90 Days Past Due [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Billed	6,522	7,015
Net Investment in Leases and Financed Sale Receivables Continue to Accrue Finance Income [Member] | Equal To Greater Than 90 Days Past Due [Member] | Net Investment in Leases [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Billed	1,134	825
Net Investment in Leases and Financed Sale Receivables Continue to Accrue Finance Income [Member] | Equal To Greater Than 90 Days Past Due [Member] | Net Financed Sales Receivables [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Billed	$ 5,388	$ 6,190

Receivables - Schedule of Net_3

Receivables - Schedule of Net Investment in Leases and Financed Sale Receivables on Nonaccrual Status (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Financing Receivable Nonaccrual Status [Line Items]
Recorded Receivable	$ 19,161	$ 9,513
Allowance for Credit Losses	(9,512)	(2,666)
Net	9,649	6,847
Net Investment in Leases [Member]
Financing Receivable Nonaccrual Status [Line Items]
Recorded Receivable	871	871
Allowance for Credit Losses	(304)	(309)
Net	567	562
Net Financed Sales Receivables [Member]
Financing Receivable Nonaccrual Status [Line Items]
Recorded Receivable	18,290	8,642
Allowance for Credit Losses	(9,208)	(2,357)
Net	$ 9,082	$ 6,285

Receivables - Summary of Allo_2

Receivables - Summary of Allowance for Credit Losses Related to Net Investment in Leases and Financed Sale Receivables (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Financing Receivable Allowance For Credit Losses [Line Items]
Beginning balance	$ 6,212
Ending balance	11,841
Net Investment in Leases [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Beginning balance	798	$ 557
Current period (reversal) provision, net	(93)	27
Foreign exchange	1	(3)
Ending balance	706	581
Net Financed Sales Receivables [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Beginning balance	5,414	7,274
Current period (reversal) provision, net	5,708	227
Foreign exchange	13	(10)
Ending balance	$ 11,135	$ 7,491

Receivables - Summary of Allo_3

Receivables - Summary of Allowance For Credit Losses Related to Variable Consideration Receivables (Details) - Theatre Operators [Member] - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Accounts Receivable Allowance For Credit Loss [Line Items]
Beginning balance	$ 1,082	$ 1,887
Current period (reversal) provision, net	(643)	200
Foreign exchange		1
Ending balance	$ 439	$ 2,088

Lease Arrangements - Additional

Lease Arrangements - Additional Information (Details)	3 Months Ended
	Mar. 31, 2022Lease
Leases [Line Items]
Lessee, operating lease description	The Company’s operating lease arrangements principally involve office and warehouse space. Office equipment is generally purchased outright. Leases with an initial term of less than 12 months are not recorded on the Condensed Consolidated Balance Sheets and the related lease expense is recognized on a straight-line basis over the lease term.
Lessee, operating lease, existence of option to extend term	true
Lessee, operating lease, existence of option to extend description	The Company has determined that it is reasonably certain that the renewal options on its warehouse leases will be exercised based on previous history, its current understanding of future business needs and its level of investment in leasehold improvements, among other factors.
Lessee, operating lease, assumptions for discount rate	The incremental borrowing rate used in the calculation of the Company’s lease liabilities is based on the location of each leased property.
Leases include options to purchase leased property	0
Lessee, operating lease, existence of residual value	false
Lessee, operating lease, sublease options	The Company rents or subleases certain office space to third parties, which have a remaining term of less than 12 months and are not expected to be renewed.
Lessor, sales-type lease description	The Company provides IMAX Theater Systems to customers through long-term lease arrangements that for accounting purposes are classified as sales-type leases. Under these arrangements, in exchange for providing the IMAX Theater System, the Company earns fixed upfront and ongoing consideration. Certain arrangements that are legal sales are also classified as sales-type leases as certain clauses within the arrangements limit transfer of title or provide the Company with conditional rights to the system.
Minimum [Member]
Leases [Line Items]
Lessee, operating lease, renewal term	1 year
Sales-type lease, lease term	10 years
Non-cancellable term of joint revenue sharing arrangements	10 years
Maximum [Member]
Leases [Line Items]
Lessee, operating lease, renewal term	5 years
Sales-type lease, lease term	20 years
Non-cancellable term of joint revenue sharing arrangements	or longer

Lease Arrangements - Components

Lease Arrangements - Components of Lease Expense (Details) - Selling, General and Administrative Expenses [Member] - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2022	Mar. 31, 2021
Leases [Line Items]
Operating lease cost	[1]	$ 160	$ 172
Amortization of lease assets		693	748
Interest on lease liabilities		215	242
Total lease cost		$ 1,068	$ 1,162
[1]	Includes short-term leases and variable lease costs, which are not significant for the three months ended March 31, 2022 and 2021 .

Lease Arrangements - Supplement

Lease Arrangements - Supplemental Cash and Non-Cash Flow Information Related to Leases (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Leases [Abstract]
Cash paid for amounts included in the measurement of lease liabilities	$ 945	$ 956
Right-of-use assets obtained in exchange for lease obligations	$ 217	$ 198

Lease Arrangements - Lessee Ope

Lease Arrangements - Lessee Operating Lease Balance Sheet Amounts and Lines (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Leases [Line Items]
Right-of-use assets	$ 11,650	$ 12,132
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Property Plant And Equipment Net	Property Plant And Equipment Net
Operating leases	$ 14,130
Accrued and other liabilities [Member]
Leases [Line Items]
Operating leases	$ 14,130	$ 14,691

Lease Arrangements - Lessee O_2

Lease Arrangements - Lessee Operating Leases Weighted Average Remaining Lease Term and Weighted Average Interest Rate (Details)	Mar. 31, 2022	Dec. 31, 2021
Lease Cost [Abstract]
Weighted-average remaining lease term (years)	6 years 9 months 18 days	7 years
Weighted-average discount rate	5.99%	5.97%

Lease Arrangements - Lessee O_3

Lease Arrangements - Lessee Operating Lease, Maturity (Details) $ in Thousands	Mar. 31, 2022USD ($)
Operating Lease Liabilities Payments Due [Abstract]
2022 (nine months remaining)	$ 2,598
2023	2,461
2024	2,234
2025	2,084
2026	2,062
Thereafter	5,953
Total lease payments	17,392
Less: interest expense	(3,262)
Present value of operating lease liabilities	$ 14,130
Operating Lease, Liability, Statement of Financial Position [Extensible Enumeration]	Accrued Liabilities And Other Liabilities

Lease Arrangements - Schedule o

Lease Arrangements - Schedule of Maturities of Lease Receivables (Details) $ in Thousands	Mar. 31, 2022USD ($)
Sales-type leases
2022 (nine months remaining)	$ 2,690
2023	3,182
2024	3,094
2025	2,940
2026	2,702
Thereafter	14,651
Total	29,259
Joint Revenue Sharing Arrangements
2022 (nine months remaining)	142
2023	128
Total	$ 270

Inventories - Inventories (Deta

Inventories - Inventories (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Inventories
Raw materials	$ 21,026	$ 20,551
Work-in-process	1,501	1,406
Finished goods	4,805	4,967
Total	$ 27,332	$ 26,924

Inventories - Additional Inform

Inventories - Additional Information (Details) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Inventory [Line Items]
Finished goods inventory with title passed to customer		$ 2,100		$ 2,600
Write-downs for excess and obsolete inventory	[1]	12	$ 103
Maximum [Member]
Inventory [Line Items]
Write-downs for excess and obsolete inventory		$ 100
[1]	In the three months ended March 31, 2022 , the Company recorded write-downs of less than $ 0.1 million ( 2021 — $ 0.1 million ) in Costs and Expenses Applicable to Technology Sales related to excess and obsolete inventory.

Debt - Revolving Credit Facilit

Debt - Revolving Credit Facility Borrowings, Net (Details) $ in Thousands, ¥ in Millions	Mar. 31, 2022USD ($)	Mar. 31, 2022CNY (¥)	Dec. 31, 2021USD ($)	Dec. 31, 2021CNY (¥)
Bank indebtedness [Line Items]
Unamortized debt issuance costs	$ (2,547)		$ (1,140)
Revolving Credit Facility Borrowings, net	1,080		2,472
Working Capital Facility [Member]
Bank indebtedness [Line Items]
Borrowings	$ 3,627	¥ 23	$ 3,612	¥ 23

Debt - Additional Information (

Debt - Additional Information (Details) $ / shares in Units, ¥ in Millions	Mar. 24, 2022	Mar. 19, 2021USD ($)	Mar. 31, 2022USD ($)$ / shares	Mar. 31, 2021USD ($)	Mar. 31, 2022CNY (¥)	Dec. 31, 2021USD ($)	Dec. 31, 2021CNY (¥)	Jul. 01, 2021USD ($)	Jul. 01, 2021CNY (¥)	Oct. 28, 2019USD ($)
Borrowings (Textual) [Abstract]
Credit facility description			On March 25, 2022, the Company entered into a Sixth Amended and Restated Credit Agreement with Wells Fargo Bank, National Association, as agent, and a syndicate of lenders party thereto (the “Credit Agreement”), which extended the maturity date of the credit facility under the Credit Agreement (the “Credit Facility”) from June 28, 2023 to March 25, 2027. The Company’s obligations under the Credit Agreement are guaranteed by certain of the Company’s subsidiaries (the “Guarantors”), and are secured by first-priority security interests in substantially all of the assets of the Company and the Guarantors.
Credit facility maturity date	Jun. 28, 2023		Mar. 25, 2027
Current borrowing capacity			$ 300,000,000
Repayment of outstanding indebtedness				$ 255,000,000
Line of credit facility covenant terms			The Credit Agreement requires that the Company maintain a maximum senior secured net leverage ratio of 3.25:1.00, which is tested on the last day of each fiscal quarter, commencing with the fiscal quarter ending June 30, 2022.
Effective interest rate			0.00%	2.65%
Letters of guarantee outstanding					¥ 0.3	$ 500,000	¥ 2.8
Proceeds from issuance of convertible notes, net				$ 223,675,000
Debt issuance costs paid			$ 1,783,000	$ 32,000
Working Capital Facility [Member]
Borrowings (Textual) [Abstract]
Credit facility description			On July 1, 2021, IMAX (Shanghai) Multimedia Technology Co., Ltd. (“IMAX Shanghai”), one of the Company’s majority-owned subsidiaries in China, renewed its unsecured revolving facility for up to 200.0 million Chinese Renminbi (“RMB”) (approximately $31.5 million), including RMB 10.0 million (approximately $1.6 million) for letters of guarantee, to fund ongoing working capital requirements (the “Working Capital Facility”).
Current borrowing capacity								$ 31,500,000	¥ 200
Borrowings			$ 3,627,000		23	3,612,000	¥ 23
Effective interest rate			4.15%	4.34%
Line of credit facility expiration period			2022-07
Letters of guarantees borrowing capacity								$ 1,600,000	¥ 10
Remaining borrowing capacity			$ 26,300,000		¥ 167
Convertible Notes [Member]
Borrowings (Textual) [Abstract]
Borrowings			230,000,000			230,000,000
Debt instrument, principal amount		$ 230,000,000	$ 230,000,000
Debt instrument, annual interest rate		0.50%	0.50%		0.50%
Proceeds from issuance of convertible notes, net		$ 223,700,000
Debt issuance costs paid		$ 1,200,000
Debt instrument, frequency of periodic interest payment			semi-annually
Debt instrument, payment terms			The Convertible Notes are senior unsecured obligations of the Company and bear interest at a rate of 0.500% per annum on the principal of $230.0 million, payable semi-annually in arrears on April 1 and October 1 of each year, beginning on October 1, 2021.
Debt instrument, date of first required payment			Oct. 1, 2021
Debt instrument, maturity date			Apr. 1, 2026
Debt instrument, convertible, terms of conversion feature			Holders of the Convertible Notes have the right to convert their Convertible Notes in certain circumstances and during specified periods. Before January 1, 2026, holders of the Convertible Notes have the right to convert their Convertible Notes only upon the occurrence of certain events. From and after January 1, 2026, holders of the Convertible Notes may convert their Convertible Notes at any time at their election until the close of business on the second scheduled trading day immediately before the maturity date. Upon conversion, the Company will pay or deliver, as applicable, cash or a combination of cash (in an amount no less than the principal amount of the Convertible Notes being converted) and common shares, at its election, based on the applicable conversion rates. The initial conversion rate is 34.7766 common shares per $1,000 principal amount of Convertible Notes, which represents an initial conversion price of approximately $28.75 per common share, and is subject to adjustment upon the occurrence of certain events.
Debt instrument, initial conversion rate per $1,000 principal amount			34.7766
Convertible notes principal amount			$ 1,000
Debt instrument, initial conversion price | $ / shares			$ 28.75
Debt instrument, redemption, description			The Convertible Notes are redeemable, in whole or in part, at the Company’s option at any time, and from time to time, on or after April 6, 2024 and on or before the 40th scheduled trading day immediately before the maturity date, at a cash redemption price equal to the principal amount of the Convertible Notes to be redeemed, plus accrued and unpaid interest, if any, but only if the last reported sale price per share of the Company’s common stock exceeds 130% of the conversion price for a specified period of time. In addition, calling any Convertible Notes for redemption will constitute a “make-whole fundamental change” with respect to such notes, in which case the conversion rate applicable to the conversion of such notes will be increased in certain circumstances if such notes are converted after they are called for redemption.
Debt instrument, redemption start date			Apr. 6, 2024
Convertible Notes [Member] | Call Option [Member]
Borrowings (Textual) [Abstract]
Cap price of capped call transactions | $ / shares			37.2750
Percentage of premium of cap price over last reported sale price per common share on March 16, 2021			75.00%
Cost of capped call transactions			$ 19,100,000
Reduction to other equity			19,100,000
Credit Facility [Member]
Borrowings (Textual) [Abstract]
Borrowings			0			0
Letters of credit or advance payment guarantees			$ 0			0
Line of credit facility covenant terms			The Credit Agreement requires that the Company maintain a maximum senior secured net leverage ratio of 3.25:1.00, which is tested on the last day of each fiscal quarter, commencing with the fiscal quarter ending June 30, 2022. The Credit Agreement also contains a $75 million minimum liquidity covenant, which is measured at the end of each calendar month and will remain in effect solely during the Designated Period. In addition, the Credit Agreement contains customary affirmative and negative covenants, including covenants that limit indebtedness, liens, capital expenditures, asset sales, investments and restricted payments, in each case subject to negotiated exceptions and baskets. The Credit Agreement also contains customary representations, warranties and event of default provisions.
Liquidity covenant minimum			$ 75,000,000
Interest rate description			Until the tenth business day after the delivery of the compliance certificate for the first fiscal quarter ending after the end of the "Designated Period" thereunder, loans under the Credit Facility will bear interest, at the Company’s option, at (i) with respect to loans on which interest is payable by reference to the Term SOFR, Eurocurrency Rate or CDOR Rate, such rate plus a margin of 2.50%; or (ii) with respect to loans on which interest is payable by reference to the U.S. base rate or the Canadian prime rate, such rate plus a margin of 1.75%. The effective interest rate for the three months ended March 31, 2022 was 0.00% (2021 — 2.65%).Following the end of the “Designated Period” thereunder, loans under the Credit Facility will bear interest, at the Company’s option, at (i) Term SOFR, Eurocurrency Rate or CDOR Rate plus a margin ranging from 1.00% to 1.75% per annum; or (ii) the U.S. base rate or the Canadian prime rate plus a margin ranging from 0.25% to 1.00% per annum, in each case depending on the Company’s total leverage ratio. In no event will Term SOFR, Eurocurrency Rate or CDOR Rate be less than 0.00% per annum.
Fees incurred with amendments			$ 1,800,000
Unamortized deferred financing costs expenses			$ 400,000
Credit Facility [Member] | SOFR, Eurocurrency or CDOR Rate [Member]
Borrowings (Textual) [Abstract]
Interest rate margin percentage			2.50%
Interest rate maximum margin percentage			0.00%
Credit Facility [Member] | U.S. Base Rate or Canadian Prime Rate [Member]
Borrowings (Textual) [Abstract]
Interest rate margin percentage			1.75%
Letter Of Credit [Member] | Working Capital Facility [Member]
Borrowings (Textual) [Abstract]
Remaining borrowing capacity			$ 1,500,000		¥ 9.7
Wells Fargo Foreign Exchange Facility [Member]
Borrowings (Textual) [Abstract]
Unrealized gain (loss) on outstanding foreign currency forward contracts			400,000			100,000
Notional Amount of arrangements entered into			23,600,000			26,700,000
NBC Facility [Member]
Borrowings (Textual) [Abstract]
Current borrowing capacity										$ 5,000,000
Remaining borrowing capacity			$ 0			$ 0
Line of credit facility renewed date			Oct. 15, 2021
Minimum [Member]
Borrowings (Textual) [Abstract]
Borrowing capacity under uncommitted accordion feature			$ 440,000,000
Minimum [Member] | Convertible Notes [Member]
Borrowings (Textual) [Abstract]
Percentage of last reported sale price per common share against conversion price for specific period of time			130.00%
Minimum [Member] | Credit Facility [Member] | SOFR, Eurocurrency or CDOR Rate [Member]
Borrowings (Textual) [Abstract]
Interest rate margin percentage			1.00%
Minimum [Member] | Credit Facility [Member] | U.S. Base Rate or Canadian Prime Rate [Member]
Borrowings (Textual) [Abstract]
Interest rate margin percentage			0.25%
Maximum [Member]
Borrowings (Textual) [Abstract]
Letters of guarantee outstanding			$ 100,000
Maximum [Member] | Credit Facility [Member]
Borrowings (Textual) [Abstract]
Debt instrument net leverage ratio			3.25
Maximum [Member] | Credit Facility [Member] | SOFR, Eurocurrency or CDOR Rate [Member]
Borrowings (Textual) [Abstract]
Interest rate margin percentage			1.75%
Maximum [Member] | Credit Facility [Member] | U.S. Base Rate or Canadian Prime Rate [Member]
Borrowings (Textual) [Abstract]
Interest rate margin percentage			1.00%

Debt - Summary of Convertible N

Debt - Summary of Convertible Notes, Net (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Bank indebtedness [Line Items]
Unamortized discounts and debt issuance costs	$ (2,547)	$ (1,140)
Convertible Notes, net	224,010	223,641
Convertible Notes [Member]
Bank indebtedness [Line Items]
Borrowings	230,000	230,000
Unamortized discounts and debt issuance costs	(5,990)	(6,359)
Convertible Notes, net	$ 224,010	$ 223,641

Commitments, Contingencies an_2

Commitments, Contingencies and Guarantees - Additional Information (Details) - USD ($)	Dec. 03, 2020	Mar. 31, 2022	Dec. 31, 2020	Mar. 27, 2008	Dec. 02, 2011	Dec. 31, 2021	Jun. 30, 2021	Jun. 23, 2021
Loss Contingencies [Line Items]
Final Award in favor of company				amount of $11.3 million, consisting of past and future rents owed to the Company, plus interest and costs, as well as an additional $2,512 each day in interest from October 1, 2007 until the date the award is paid	$30,000 to cover the costs of the application
Final Award amount issued				$ 11,300,000
Final Award additional interest				$ 2,512
Final Award settlement cost					$ 30,000
Award inclusive of interest		$ 24,600,000
Damages awarded	$ 11,300,000
Litigation liability related to Final Judgment			$ 11,300,000
Amounts collected in respect of theater systems not delivered			7,200,000
Legal judgement and arbitration awards			$ 4,100,000
Litigation liability paid							$ 9,500,000
Litigation settlement expense reversed								$ 1,800,000
Benefit of legal judgement and arbitration awards								$ 1,800,000
Product warranty accrual		0				$ 0
Indemnification of its directors/officers		0				$ 0
Other Indemnification		$ 0

Condensed Consolidated Statem_9

Condensed Consolidated Statements of Operations Supplemental Information - Summary of Selling Expenses, Including Sales Commissions and Other Selling Expenses (Details) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2022	Mar. 31, 2021
Collaborative Arrangements [Line Items]
Sales Commissions		$ 45	$ 227
Other Selling Expenses		3,542	1,912
Technology Sales [Member]
Collaborative Arrangements [Line Items]
Sales Commissions	[1]	0	133
Other Selling Expenses	[1]	162	141
Image Enhancement and Maintenance Services [Member]
Collaborative Arrangements [Line Items]
Sales Commissions	[2]	0
Other Selling Expenses	[2]	2,915	1,207
Technology Rentals [Member]
Collaborative Arrangements [Line Items]
Sales Commissions	[3]	45	94
Other Selling Expenses	[3]	$ 465	$ 564
[1]	Sales commissions paid prior to the recognition of the related revenue are deferred and recognized upon the client acceptance of the IMAX Theater System. Direct advertising and marketing costs for each theater are expensed as incurred.
[2]	Film exploitation costs, including advertising and marketing costs, are expensed as incurred.
[3]	Sales commissions related to joint revenue sharing arrangements accounted for as operating leases are recognized in the month they are earned by the salesperson, which is typically the month in which the theater system is installed. Direct advertising and marketing costs for each theater are expensed as incurred.

Condensed Consolidated State_10

Condensed Consolidated Statements of Operations Supplemental Information - Additional Information (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)FilmExhibitorTheater	Mar. 31, 2021USD ($)FilmTheaterExhibitor	Dec. 31, 2021USD ($)
Foreign Exchange
Foreign exchange translation gain (loss)	$ (100)	$ 600
Collaborative Arrangements
Total number of exhibitors under traditional and hybrid joint revenue sharing agreements | Exhibitor	42	41
Total number of theater systems under traditional and hybrid joint revenue sharing agreements | Theater	1,231	1,228
Total number of operating theaters under traditional and hybrid joint revenue sharing agreement | Theater	915	896
Average percentage of the box-office receipts of the film for recovering digital re-mastering cost	12.50%
Number of films exhibited in the period | Film	23	18
Number of new films exhibited | Film	13	12
Number of carryover films exhibited | Film	10	6
Revenue attributable to transactions arising between the company and its customers under IMAX DMR arrangements	$ 19,600	$ 11,900
Number of significant co-produced film arrangement | Film	1
Number of other co-produced film arrangements | Film	3
Assets	$ 852,048		$ 883,247
Liabilities	437,966		452,875
Amounts attributable to transactions between the company and other parties involved in the production of films included in cost and expense	100
Variable Interest Entity, Primary Beneficiary [Member]
Collaborative Arrangements
Assets	1,581		1,576
Liabilities	257		$ 259
Retrospective adoption of ASC Topic 606, Revenue from Contracts with Customers [Member]
Collaborative Arrangements
Revenue attributable to transactions arising between the company and its customers under joint revenue sharing arrangements	$ 13,600	10,100
Maximum [Member]
Collaborative Arrangements
Amounts attributable to transactions between the company and other parties involved in the production of films included in cost and expense		$ 100

Condensed Consolidated State_11

Condensed Consolidated Statements of Cash Flows Supplemental Information - Summary of Changes in Other Operating Assets and Liabilities (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Decrease (Increase) in:
Financing receivables	$ 3,916	$ 1,271
Prepaid expenses	(2,413)	(2,996)
Variable consideration receivables	829	(569)
Other assets	209	(470)
Increase (decrease) in:
Accounts payable	2,184	(4,538)
Accrued and other liabilities	(14,911)	3,147
Changes in other operating assets and liabilities	$ (10,186)	$ (4,155)

Condensed Consolidated State_12

Condensed Consolidated Statements of Cash Flows Supplemental Information - Summary of Depreciation and Amortization (Details) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2022	Mar. 31, 2021
Summary of Depreciation and amortization
Film assets		$ 3,178	$ 2,494
Property, plant and equipment:
Equipment supporting joint revenue sharing arrangements		5,548	5,743
Other property, plant and equipment		2,028	2,476
Other intangible assets	[1]	1,532	1,471
Other assets	[2]	455	494
Depreciation and amortization		$ 12,741	$ 12,678
[1]	Includes the amortization of licenses and intellectual property recorded in Research and Development on the Condensed Consolidated Statement of Operations of $ 0.3 million in the three months ended March 31, 2022 ( 2021 — $ 0.3 million ).
[2]	Includes the amortization of lessee incentives provided by the Company to its customers under joint revenue sharing arrangements.

Condensed Consolidated State_13

Condensed Consolidated Statements of Cash Flows Supplemental Information - Summary of Depreciation and Amortization (Parenthetical) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Supplemental Cash Flow Elements [Abstract]
Amortization of intangible assets net in research and development	$ 0.3	$ 0.3

Condensed Consolidated State_14

Condensed Consolidated Statements of Cash Flows Supplemental Information - Write-downs (Details) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2022	Mar. 31, 2021
Write-downs
Inventories	[1]	$ 12	$ 103
Equipment supporting joint revenue sharing arrangements	[2]	202	151
Other property, plant and equipment		2	3
Film assets	[3]	165	(44)
Write-downs		$ 381	$ 213
[1]	In the three months ended March 31, 2022 , the Company recorded write-downs of less than $ 0.1 million ( 2021 — $ 0.1 million ) in Costs and Expenses Applicable to Technology Sales related to excess and obsolete inventory.
[2]	In the three months ended March 31, 2022, the Company recorded charges of $ 0.2 million (2021 — $ 0.2 million ) in Costs and Expenses Applicable to Technology Rentals mostly related to the write-down of leased xenon-based digital systems which were taken out of service in connection with customer upgrades to laser-based digital systems.
[3]	In the three months ended March 31, 2022, the Company recorded impairment losses of $ 0.2 million (2021 — $ nil ) related to the write-down of DMR and Film Distribution related film assets.

Condensed Consolidated State_15

Condensed Consolidated Statements of Cash Flows Supplemental Information - Write-downs (Parenthetical) (Details) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2022	Mar. 31, 2021
Supplemental Cash Flow Elements [Line Items]
Theater system components written off in Costs and expenses		$ 200	$ 200
Write-downs for excess and obsolete inventory	[1]	12	103
Film assets write downs on impairment loss		200
Maximum [Member]
Supplemental Cash Flow Elements [Line Items]
Write-downs for excess and obsolete inventory		$ 100
[1]	In the three months ended March 31, 2022 , the Company recorded write-downs of less than $ 0.1 million ( 2021 — $ 0.1 million ) in Costs and Expenses Applicable to Technology Sales related to excess and obsolete inventory.

Condensed Consolidated State_16

Condensed Consolidated Statements of Cash Flows Supplemental Information - Significant Non-cash Investing Activities - (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Net increase (decrease) in accruals related to:
Investment in equipment supporting joint revenue sharing arrangements	$ 1,133	$ 117
Acquisition of other intangible assets	32	(858)
Net accruals	$ 1,165	$ (741)

Condensed Consolidated State_17

Condensed Consolidated Statements of Cash Flows -Supplemental Information - Additional Information (Details) $ in Millions	Mar. 31, 2021USD ($)
Convertible Notes [Member]
Debt Conversion [Line Items]
Debt issuance cost payable	$ 1.2

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Income Tax Contingency [Line Items]
Income tax expense (benefit)	$ 2,610	$ 3,068
Deferred tax asset, valuation allowance	51,000		$ 46,000
Deferred income tax asset after valuation allowance	13,900		$ 13,900
Impact of COVID-19 Pandemic [Member]
Income Tax Contingency [Line Items]
Deferred tax asset, valuation allowance	$ 5,000	$ 7,000

Income Taxes - Schedule of Effe

Income Taxes - Schedule of Effective Tax Rates (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Income Tax Disclosure [Abstract]
Income tax benefit at combined statutory rates, Amount	$ 2,475	$ 1,969
Increase of valuation allowance, Amount	(5,009)	(6,971)
(Shortfall) excess tax benefits related to share-based compensation, Amount	(129)	741
Changes to tax reserves, Amount	(160)	557
Gain on sale of Maoyan investment not taxable, Amount		1,367
Withholding taxes resulting from management's decision to no longer indefinitely reinvest the historical earnings of certain foreign subsidiaries, Amount		(547)
Other non-deductible/non-taxable items, Amount	213	(184)
Income tax expense	$ (2,610)	$ (3,068)
Income tax benefit at combined statutory rates, Rate	26.50%	26.50%
Increase of valuation allowance, Rate	(53.60%)	(93.80%)
(Shortfall) excess tax benefits related to share-based compensation. Rate	(1.40%)	10.00%
Changes to tax reserves, Rate	(1.70%)	7.50%
Gain on sale of Maoyan investment not taxable, Rate		18.40%
Withholding taxes resulting from management's decision to no longer indefinitely reinvest the historical earnings of certain foreign subsidiaries, Rate		(7.40%)
Other non-deductible/non-taxable items, Rate	2.30%	(2.50%)
Income tax expense	(27.90%)	(41.30%)

Income Taxes - Income Tax Expen

Income Taxes - Income Tax Expense in Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Income Tax Disclosure [Abstract]
Unrealized change in cash flow hedging instruments	$ (82)	$ (77)
Realized change in cash flow hedging instruments	(8)	60
Reclassification of unrealized change in ineffective cash flow hedging instruments		6
Defined benefit and postretirement benefit plans	(12)	(13)
Income tax effect on other comprehensive income (loss)	$ (102)	$ (24)

Capital Stock and Reserves - Ad

Capital Stock and Reserves - Additional Information (Details) $ / shares in Units, $ / shares in Units, ¥ in Millions, $ in Millions	Apr. 27, 2022USD ($)$ / sharesshares	Mar. 31, 2022USD ($)$ / sharesshares	Mar. 31, 2022HKD ($)$ / sharesshares	Mar. 31, 2021USD ($)$ / sharesshares	Dec. 31, 2021USD ($)shares	Dec. 31, 2021CNY (¥)shares	Sep. 30, 2021USD ($)	Sep. 30, 2021CNY (¥)	Apr. 30, 2021USD ($)	Jun. 11, 2020shares	Jul. 01, 2017USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation costs recorded for the period		$ 6,100,000		$ 5,300,000
Stock-based compensation expense		$ 6,052,000		$ 5,307,000
Maximum number of shares of common stock may be issued for outstanding PSU | shares		58,750,922			58,653,642	58,653,642
Common shares purchased in open market by trustee in connection with RSUs | shares		0	0	0
Number of treasury shares held in trust for future settlement of share based awards | shares		0	0		0	0
Antidilutive shares issuable upon exercise of stock options, restricted share units and performance stock units | shares		6,348,736	6,348,736	6,494,829
Percentage of statutory net profits to statutory surplus reserve to be appropriated		10.00%
Discontinuation of contribution, Aggregate sum of statutory surplus reserve more than its registered capital,percent.		50.00%
Statutory surplus reserve appropriated		$ 0					$ 5,600,000	¥ 36.4
Dividends declared and paid					$ 20,400,000	¥ 131.6
Statutory surplus reserve to its subsidiaries registered capital percent							50.00%	50.00%
Subsequent Event [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Repurchase of common shares | shares	869,048
Stock Acquired, Average Cost per Share | $ / shares	$ 16.42
Repurchase of common shares, value	$ 14,300,000
IMAX China
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Details of the share repurchase program		In 2021, IMAX China's shareholders granted its Board of Directors a general mandate authorizing the Board, subject to applicable laws, to repurchase shares of IMAX China not to exceed 10% of the total number of issued shares as of May 6, 2021 (34,835,824 shares). This program will be valid until the 2022 Annual General Meeting of IMAX China, which will be held on May 26, 2022. The repurchases may be made in the open market or through other means permitted by applicable laws. IMAX China has no obligation to repurchase its shares and the share repurchase program may be suspended or discontinued by IMAX China at any time.	In 2021, IMAX China's shareholders granted its Board of Directors a general mandate authorizing the Board, subject to applicable laws, to repurchase shares of IMAX China not to exceed 10% of the total number of issued shares as of May 6, 2021 (34,835,824 shares). This program will be valid until the 2022 Annual General Meeting of IMAX China, which will be held on May 26, 2022. The repurchases may be made in the open market or through other means permitted by applicable laws. IMAX China has no obligation to repurchase its shares and the share repurchase program may be suspended or discontinued by IMAX China at any time.
Stock Repurchase Program Expiration Date		May 6, 2021	May 6, 2021
Repurchase of common shares | shares		1,448,000	1,448,000
Stock Acquired, Average Cost per Share | (per share)		$ 1.26	$ 9.89
Repurchase of common shares, value		$ 1,800,000	$ 14.3
Stock Repurchase Program, maximum percentage of shares to be repurchased										10.00%
Stock Repurchase Program, Authorized number of shares | shares										34,835,824
Parent [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Details of the share repurchase program		In April 2021, the Company’s Board of Directors approved a 12-month extension to its share repurchase program through June 30, 2022. The extension authorized the Company to repurchase up to approximately $89.4 million worth of common shares, the remaining amount available of the original $200.0 million initially authorized under the share repurchase program when it commenced on July 1, 2017. The repurchases may be made either in the open market or through private transactions, including repurchases made pursuant a plan intended to comply with Rule 10b5-1 under the Securities Exchange Act of 1934, as amended, subject to market conditions, applicable legal requirements, and other relevant factors. The Company has no obligation to repurchase shares and the share repurchase program may be suspended or discontinued by the Company at any time.	In April 2021, the Company’s Board of Directors approved a 12-month extension to its share repurchase program through June 30, 2022. The extension authorized the Company to repurchase up to approximately $89.4 million worth of common shares, the remaining amount available of the original $200.0 million initially authorized under the share repurchase program when it commenced on July 1, 2017. The repurchases may be made either in the open market or through private transactions, including repurchases made pursuant a plan intended to comply with Rule 10b5-1 under the Securities Exchange Act of 1934, as amended, subject to market conditions, applicable legal requirements, and other relevant factors. The Company has no obligation to repurchase shares and the share repurchase program may be suspended or discontinued by the Company at any time.
Stock Repurchase Program, Authorized Amount		$ 69,200,000									$ 200,000,000
Stock Repurchase Program Expiration Date		Jun. 30, 2022	Jun. 30, 2022
Repurchase of common shares | shares		380,652	380,652	0
Stock Acquired, Average Cost per Share | $ / shares		$ 16.45		$ 0
Repurchase of common shares, value		$ 6,300,000		$ 0
Statutory surplus reserve appropriated							$ 3,900
Parent [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Repurchase Program, Authorized Amount									$ 89,400,000
Non-controlling Interests [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Repurchase of common shares, value		1,301,000
Statutory surplus reserve appropriated							$ 1,700
Restricted Share Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense		$ 3,411,000		$ 3,151,000
Antidilutive shares issuable upon exercise of stock options, restricted share units and performance stock units | shares		1,444,455	1,444,455	1,735,714
Restricted Share Units [Member] | Certain Advisor [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense		$ 0		$ 0
Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense		$ 207,000		$ 351,000
Antidilutive shares issuable upon exercise of stock options, restricted share units and performance stock units | shares		3,607,391	3,607,391	3,913,231
Performance Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense		$ 1,729,000		$ 1,014,000
Stock based awards vesting period		3 years	3 years
Antidilutive shares issuable upon exercise of stock options, restricted share units and performance stock units | shares		1,296,890	1,296,890	845,884
Performance Stock Units [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, award vesting rights, percentage		0.00%	0.00%
Performance Stock Units [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, award vesting rights, percentage		175.00%	175.00%
Performance Stock Units [Member] | EBITDA | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum number of shares of common stock may be issued for outstanding PSU | shares		1,701,951

Capital Stock and Reserves - St

Capital Stock and Reserves - Stock Compensation (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 6,052	$ 5,307
Cost and Expenses Applicable to Revenues [Member]
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Stock-based compensation expense	239	294
Selling, General and Administrative Expenses [Member]
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Stock-based compensation expense	5,726	4,944
Research and Development [Member]
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 87	$ 69

Capital Stock and Reserves - _2

Capital Stock and Reserves - Stock-based Compensation by Plan Type (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense by plan type	$ 6,052	$ 5,307
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense by plan type	207	351
Restricted Share Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense by plan type	3,411	3,151
Performance Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense by plan type	1,729	1,014
IMAX China Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense by plan type	34	56
IMAX China Long Term Incentive Plan Restricted Share Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense by plan type	497	632
IMAX China Long Term Incentive Plan Performance Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense by plan type	$ 174	$ 103

Capital Stock and Reserves - Sc

Capital Stock and Reserves - Schedule of Share-based Compensation, Stock Options, Activity (Details) - Employee Stock Option [Member] - $ / shares	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options outstanding, beginning of period	3,736,157	4,892,962
Exercised		(38,754)
Forfeited		(44,362)
Expired	(126,569)	(885,698)
Cancelled	(2,197)	(10,917)
Stock options outstanding, end of period	3,607,391	3,913,231
Stock options exercisable, end of period	3,524,298	3,615,079
Stock options outstanding, weighted average exercise price per share	$ 26.61	$ 26.81
Exercised, weighted average exercise price per share		21.26
Forfeited, weighted average exercise price per share		23.12
Expired, weighted average exercise price per share	33.61	28.31
Cancelled, weighted average exercise price per share	32.50	27.20
Stock options outstanding, weighted average exercise price per share	26.36	26.56
Stock options exercisable, weighted average exercise price per share, end of period	$ 26.45	$ 26.93

Capital Stock and Reserves - Re

Capital Stock and Reserves - Restricted Stock Units Activity under the IMAX LTIP (Details) - Restricted Share Units [Member] - $ / shares	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of awards outstanding, beginning of period	1,457,883	1,564,838
Granted	636,427	754,778
Vested and settled	(648,527)	(523,573)
Forfeited	(1,328)	(60,329)
Number of awards outstanding,end of period	1,444,455	1,735,714
Weighted average grant date fair value per share, beginning of period	$ 19.16	$ 18.33
Granted, weighted average grant date fair value per share	19.64	20.94
Vested and settled, weighted average grant date fair value per share	18.78	18.82
Forfeited, weighted average grant date fair value per share	14.84	20.08
Weighted average grant date fair value per share, end of period	$ 19.54	$ 19.26

Capital Stock and Reserves - Pe

Capital Stock and Reserves - Performance Stock Units Activity under the IMAX LTIP (Details) - Performance Stock Units [Member] - $ / shares	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of awards outstanding, beginning of period	613,405	361,844
Granted	359,138	308,438
Forfeited		(2,526)
Number of awards outstanding,end of period	972,543	667,756
Weighted average grant date fair value per share, beginning of period	$ 18.21	$ 15.68
Granted, weighted average grant date fair value per share	20.34	20.77
Forfeited, weighted average grant date fair value per share		14.84
Weighted average grant date fair value per share, end of period	$ 19	$ 18.03

Capital Stock and Reserves - Ba

Capital Stock and Reserves - Basic and Diluted Per-share Computations (Details) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Equity [Abstract]
Issued and outstanding, beginning of period	58,654	58,921
Weighted average number of shares (repurchased) issued, net	(80)	91
Weighted average number of shares outstanding - basic	58,574	59,012
Weighted average number of shares outstanding - diluted	58,574	59,012

Revenue from Contracts with C_3

Revenue from Contracts with Customers - Disaggregation of Revenue by Segment (Details) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2022	Mar. 31, 2021
Revenue from Contracts with Customers [Line Items]
Revenues	[1]	$ 60,036	$ 38,754
Fixed Consideration [Member]
Revenue from Contracts with Customers [Line Items]
Revenues		23,448	11,440
Variable Consideration [Member]
Revenue from Contracts with Customers [Line Items]
Revenues		20,632	13,236
Lease Arrangements [Member]
Revenue from Contracts with Customers [Line Items]
Revenues		13,651	11,473
Finance Income [Member]
Revenue from Contracts with Customers [Line Items]
Revenues		2,305	2,605
Technology Sales [Member]
Revenue from Contracts with Customers [Line Items]
Revenues		8,976	6,175
Technology Sales [Member] | Fixed Consideration [Member]
Revenue from Contracts with Customers [Line Items]
Revenues		7,537	1,943
Technology Sales [Member] | Variable Consideration [Member]
Revenue from Contracts with Customers [Line Items]
Revenues		449	1,118
Technology Sales [Member] | IMAX Systems [Member]
Revenue from Contracts with Customers [Line Items]
Revenues		6,313	3,294
Technology Sales [Member] | IMAX Systems [Member] | Fixed Consideration [Member]
Revenue from Contracts with Customers [Line Items]
Revenues		5,945	838
Technology Sales [Member] | IMAX Systems [Member] | Variable Consideration [Member]
Revenue from Contracts with Customers [Line Items]
Revenues		368	1,080
Technology Sales [Member] | Joint Revenue Sharing Arrangements, fixed fees [Member]
Revenue from Contracts with Customers [Line Items]
Revenues		990	1,738
Technology Sales [Member] | Joint Revenue Sharing Arrangements, fixed fees [Member] | Fixed Consideration [Member]
Revenue from Contracts with Customers [Line Items]
Revenues		0	0
Technology Sales [Member] | Joint Revenue Sharing Arrangements, fixed fees [Member] | Variable Consideration [Member]
Revenue from Contracts with Customers [Line Items]
Revenues		0	0
Technology Sales [Member] | Other Theater Business [Member]
Revenue from Contracts with Customers [Line Items]
Revenues		670	437
Technology Sales [Member] | Other Theater Business [Member] | Fixed Consideration [Member]
Revenue from Contracts with Customers [Line Items]
Revenues		670	437
Technology Sales [Member] | Other Theater Business [Member] | Variable Consideration [Member]
Revenue from Contracts with Customers [Line Items]
Revenues		0	0
Technology Sales [Member] | All Other [Member]
Revenue from Contracts with Customers [Line Items]
Revenues		1,003	706
Technology Sales [Member] | All Other [Member] | Fixed Consideration [Member]
Revenue from Contracts with Customers [Line Items]
Revenues		922	668
Technology Sales [Member] | All Other [Member] | Variable Consideration [Member]
Revenue from Contracts with Customers [Line Items]
Revenues		81	38
Technology Sales [Member] | Lease Arrangements [Member]
Revenue from Contracts with Customers [Line Items]
Revenues		990	3,114
Technology Sales [Member] | Lease Arrangements [Member] | IMAX Systems [Member]
Revenue from Contracts with Customers [Line Items]
Revenues		0	1,376
Technology Sales [Member] | Lease Arrangements [Member] | Joint Revenue Sharing Arrangements, fixed fees [Member]
Revenue from Contracts with Customers [Line Items]
Revenues		990	1,738
Technology Sales [Member] | Lease Arrangements [Member] | Other Theater Business [Member]
Revenue from Contracts with Customers [Line Items]
Revenues		0	0
Technology Sales [Member] | Lease Arrangements [Member] | All Other [Member]
Revenue from Contracts with Customers [Line Items]
Revenues		0	0
Technology Sales [Member] | Finance Income [Member]
Revenue from Contracts with Customers [Line Items]
Revenues		0	0
Technology Sales [Member] | Finance Income [Member] | IMAX Systems [Member]
Revenue from Contracts with Customers [Line Items]
Revenues		0	0
Technology Sales [Member] | Finance Income [Member] | Joint Revenue Sharing Arrangements, fixed fees [Member]
Revenue from Contracts with Customers [Line Items]
Revenues		0	0
Technology Sales [Member] | Finance Income [Member] | Other Theater Business [Member]
Revenue from Contracts with Customers [Line Items]
Revenues		0	0
Technology Sales [Member] | Finance Income [Member] | All Other [Member]
Revenue from Contracts with Customers [Line Items]
Revenues		0	0
Image Enhancement and Maintenance Services [Member]
Revenue from Contracts with Customers [Line Items]
Revenues		36,094	21,615
Image Enhancement and Maintenance Services [Member] | Fixed Consideration [Member]
Revenue from Contracts with Customers [Line Items]
Revenues		15,911	9,497
Image Enhancement and Maintenance Services [Member] | Variable Consideration [Member]
Revenue from Contracts with Customers [Line Items]
Revenues		20,183	12,118
Image Enhancement and Maintenance Services [Member] | All Other [Member]
Revenue from Contracts with Customers [Line Items]
Revenues		182	(48)
Image Enhancement and Maintenance Services [Member] | All Other [Member] | Fixed Consideration [Member]
Revenue from Contracts with Customers [Line Items]
Revenues		0	0
Image Enhancement and Maintenance Services [Member] | All Other [Member] | Variable Consideration [Member]
Revenue from Contracts with Customers [Line Items]
Revenues		182	(48)
Image Enhancement and Maintenance Services [Member] | IMAX DMR [Member]
Revenue from Contracts with Customers [Line Items]
Revenues		19,564	11,944
Image Enhancement and Maintenance Services [Member] | IMAX DMR [Member] | Fixed Consideration [Member]
Revenue from Contracts with Customers [Line Items]
Revenues		0	0
Image Enhancement and Maintenance Services [Member] | IMAX DMR [Member] | Variable Consideration [Member]
Revenue from Contracts with Customers [Line Items]
Revenues		19,564	11,944
Image Enhancement and Maintenance Services [Member] | IMAX Maintenance Segment [Member]
Revenue from Contracts with Customers [Line Items]
Revenues		14,942	8,906
Image Enhancement and Maintenance Services [Member] | IMAX Maintenance Segment [Member] | Fixed Consideration [Member]
Revenue from Contracts with Customers [Line Items]
Revenues		14,942	8,906
Image Enhancement and Maintenance Services [Member] | IMAX Maintenance Segment [Member] | Variable Consideration [Member]
Revenue from Contracts with Customers [Line Items]
Revenues		0	0
Image Enhancement and Maintenance Services [Member] | Film Post-Production [Member]
Revenue from Contracts with Customers [Line Items]
Revenues		825	591
Image Enhancement and Maintenance Services [Member] | Film Post-Production [Member] | Fixed Consideration [Member]
Revenue from Contracts with Customers [Line Items]
Revenues		825	591
Image Enhancement and Maintenance Services [Member] | Film Post-Production [Member] | Variable Consideration [Member]
Revenue from Contracts with Customers [Line Items]
Revenues		0	0
Image Enhancement and Maintenance Services [Member] | Film Distribution [Member]
Revenue from Contracts with Customers [Line Items]
Revenues		581	222
Image Enhancement and Maintenance Services [Member] | Film Distribution [Member] | Fixed Consideration [Member]
Revenue from Contracts with Customers [Line Items]
Revenues		144	0
Image Enhancement and Maintenance Services [Member] | Film Distribution [Member] | Variable Consideration [Member]
Revenue from Contracts with Customers [Line Items]
Revenues		437	222
Image Enhancement and Maintenance Services [Member] | Lease Arrangements [Member]
Revenue from Contracts with Customers [Line Items]
Revenues		0	0
Image Enhancement and Maintenance Services [Member] | Lease Arrangements [Member] | All Other [Member]
Revenue from Contracts with Customers [Line Items]
Revenues		0	0
Image Enhancement and Maintenance Services [Member] | Lease Arrangements [Member] | IMAX DMR [Member]
Revenue from Contracts with Customers [Line Items]
Revenues		0	0
Image Enhancement and Maintenance Services [Member] | Lease Arrangements [Member] | IMAX Maintenance Segment [Member]
Revenue from Contracts with Customers [Line Items]
Revenues		0	0
Image Enhancement and Maintenance Services [Member] | Lease Arrangements [Member] | Film Post-Production [Member]
Revenue from Contracts with Customers [Line Items]
Revenues		0	0
Image Enhancement and Maintenance Services [Member] | Lease Arrangements [Member] | Film Distribution [Member]
Revenue from Contracts with Customers [Line Items]
Revenues		0	0
Image Enhancement and Maintenance Services [Member] | Finance Income [Member]
Revenue from Contracts with Customers [Line Items]
Revenues		0	0
Image Enhancement and Maintenance Services [Member] | Finance Income [Member] | All Other [Member]
Revenue from Contracts with Customers [Line Items]
Revenues		0	0
Image Enhancement and Maintenance Services [Member] | Finance Income [Member] | IMAX DMR [Member]
Revenue from Contracts with Customers [Line Items]
Revenues		0	0
Image Enhancement and Maintenance Services [Member] | Finance Income [Member] | IMAX Maintenance Segment [Member]
Revenue from Contracts with Customers [Line Items]
Revenues		0	0
Image Enhancement and Maintenance Services [Member] | Finance Income [Member] | Film Post-Production [Member]
Revenue from Contracts with Customers [Line Items]
Revenues		0	0
Image Enhancement and Maintenance Services [Member] | Finance Income [Member] | Film Distribution [Member]
Revenue from Contracts with Customers [Line Items]
Revenues		0	0
Technology Rentals [Member]
Revenue from Contracts with Customers [Line Items]
Revenues		12,661	8,359
Technology Rentals [Member] | Fixed Consideration [Member]
Revenue from Contracts with Customers [Line Items]
Revenues		0	0
Technology Rentals [Member] | Variable Consideration [Member]
Revenue from Contracts with Customers [Line Items]
Revenues		0	0
Technology Rentals [Member] | All Other [Member]
Revenue from Contracts with Customers [Line Items]
Revenues		18
Technology Rentals [Member] | All Other [Member] | Fixed Consideration [Member]
Revenue from Contracts with Customers [Line Items]
Revenues		0
Technology Rentals [Member] | All Other [Member] | Variable Consideration [Member]
Revenue from Contracts with Customers [Line Items]
Revenues		0
Technology Rentals [Member] | Joint Revenue Sharing Arrangements, Contingent Rent [Member]
Revenue from Contracts with Customers [Line Items]
Revenues		12,643	8,359
Technology Rentals [Member] | Joint Revenue Sharing Arrangements, Contingent Rent [Member] | Fixed Consideration [Member]
Revenue from Contracts with Customers [Line Items]
Revenues		0	0
Technology Rentals [Member] | Joint Revenue Sharing Arrangements, Contingent Rent [Member] | Variable Consideration [Member]
Revenue from Contracts with Customers [Line Items]
Revenues		0	0
Technology Rentals [Member] | Lease Arrangements [Member]
Revenue from Contracts with Customers [Line Items]
Revenues		12,661	8,359
Technology Rentals [Member] | Lease Arrangements [Member] | All Other [Member]
Revenue from Contracts with Customers [Line Items]
Revenues		18
Technology Rentals [Member] | Lease Arrangements [Member] | Joint Revenue Sharing Arrangements, Contingent Rent [Member]
Revenue from Contracts with Customers [Line Items]
Revenues		12,643	8,359
Technology Rentals [Member] | Finance Income [Member]
Revenue from Contracts with Customers [Line Items]
Revenues		0	0
Technology Rentals [Member] | Finance Income [Member] | All Other [Member]
Revenue from Contracts with Customers [Line Items]
Revenues		0
Technology Rentals [Member] | Finance Income [Member] | Joint Revenue Sharing Arrangements, Contingent Rent [Member]
Revenue from Contracts with Customers [Line Items]
Revenues		0	0
Finance Income [Member] | IMAX Systems [Member]
Revenue from Contracts with Customers [Line Items]
Revenues		2,305	2,605
Finance Income [Member] | IMAX Systems [Member] | Fixed Consideration [Member]
Revenue from Contracts with Customers [Line Items]
Revenues		0	0
Finance Income [Member] | IMAX Systems [Member] | Variable Consideration [Member]
Revenue from Contracts with Customers [Line Items]
Revenues		0	0
Finance Income [Member] | Lease Arrangements [Member] | IMAX Systems [Member]
Revenue from Contracts with Customers [Line Items]
Revenues		0	0
Finance Income [Member] | Finance Income [Member] | IMAX Systems [Member]
Revenue from Contracts with Customers [Line Items]
Revenues		$ 2,305	$ 2,605
[1]	The Company’s largest customer represents 28 % of total Revenues for the three months ended March 31, 2022 (2021 — 31 %). No single customer comprises more than 10% of the Company’s total Accounts Receivable as of March 31, 2022 and December 31, 2021 .

Revenue from Contracts with C_4

Revenue from Contracts with Customers - Additional Information (Details) - USD ($) $ in Millions	Mar. 31, 2022	Mar. 31, 2021
Maintenance Services [Member]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue Remaining Performance Obligation	$ 19.2	$ 20.2

Segment Reporting - Additional

Segment Reporting - Additional Information (Details)	3 Months Ended
	Mar. 31, 2022
Segment Reporting (Textual) [Abstract]
Description of products and services from which each reportable segment derives its revenues	The Company has the following reportable segments: (i) IMAX DMR; (ii) Joint Revenue Sharing Arrangements ("JRSA"); (iii) IMAX Systems, (iv) IMAX Maintenance; (v) Other Theater Business; (vi) Film Distribution; and (vii) Film Post-Production.
Disclosure on geographic areas, description of revenue from external customers	No single country in the Rest of the World, Western Europe, Latin America and Asia (excluding Greater China) comprises more than 10% of the Company’s total revenue in the three months ended March 31, 2022 and 2021.

Segment Reporting - Segment Rep

Segment Reporting - Segment Reporting Information by Category and Reportable Segment (Details) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2022	Mar. 31, 2021
Revenues
Revenue	[1]	$ 60,036	$ 38,754
Gross Margin (Margin Loss)
Gross Margin (Margin Loss)		31,771	17,281
IMAX DMR [Member]
Revenues
Revenue	[1]	19,564	11,944
Gross Margin (Margin Loss)
Gross Margin (Margin Loss)		13,557	8,251
JRSA, contingent rent [Member]
Revenues
Revenue	[1]	12,643	8,359
Gross Margin (Margin Loss)
Gross Margin (Margin Loss)		6,198	1,883
IMAX Technology Network [Member]
Revenues
Revenue	[1]	32,207	20,303
Gross Margin (Margin Loss)
Gross Margin (Margin Loss)		19,755	10,134
IMAX Systems [Member]
Revenues
Revenue	[1],[2]	8,618	5,899
Gross Margin (Margin Loss)
Gross Margin (Margin Loss)	[2]	3,976	3,012
Joint Revenue Sharing Arrangements, Fixed Fees [Member]
Revenues
Revenue	[1]	990	1,738
Gross Margin (Margin Loss)
Gross Margin (Margin Loss)		252	156
IMAX Maintenance Segment [Member]
Revenues
Revenue	[1]	14,942	8,906
Gross Margin (Margin Loss)
Gross Margin (Margin Loss)		7,870	3,823
Other Theater Business [Member]
Revenues
Revenue	[1],[3]	670	437
Gross Margin (Margin Loss)
Gross Margin (Margin Loss)	[3]	100	63
IMAX Technology Sales and Maintenance [Member]
Revenues
Revenue	[1]	25,220	16,980
Gross Margin (Margin Loss)
Gross Margin (Margin Loss)		12,198	7,054
Film Distribution [Member]
Revenues
Revenue	[1]	581	222
Gross Margin (Margin Loss)
Gross Margin (Margin Loss)		(1,247)	(261)
Post-Production [Member]
Revenues
Revenue	[1]	825	591
Gross Margin (Margin Loss)
Gross Margin (Margin Loss)		386	236
Film Distribution and Post-Production [Member]
Revenues
Revenue	[1]	1,406	813
Gross Margin (Margin Loss)
Gross Margin (Margin Loss)		(861)	(25)
Reportable Segments [Member]
Revenues
Revenue	[1]	58,833	38,096
Gross Margin (Margin Loss)
Gross Margin (Margin Loss)		31,092	17,163
All Other [Member]
Revenues
Revenue	[1],[4]	1,203	658
Gross Margin (Margin Loss)
Gross Margin (Margin Loss)	[4]	$ 679	$ 118
[1]	The Company’s largest customer represents 28 % of total Revenues for the three months ended March 31, 2022 (2021 — 31 %). No single customer comprises more than 10% of the Company’s total Accounts Receivable as of March 31, 2022 and December 31, 2021 .
[2]	The revenue from this segment includes the initial upfront payments and the present value of fixed minimum payments from sale and sales-type lease arrangements of IMAX Theater Systems, as well as the present value of estimated variable consideration from sales of IMAX Theater Systems. To a lesser extent, the revenue from this segment also includes finance income associated with these revenue streams.
[3]	The revenue from this segment principally includes after-market sales of IMAX Theater System parts and 3D glasses.
[4]	All Other includes the results from IMAX Enhanced and other ancillary activities. In the first quarter of 2022, the Company's internal reporting was updated to reclassify the results of IMAX Enhanced out of the New Business Initiatives segment into All Other for segment reporting purposes. Prior period comparatives have been revised to conform with the current period presentation.

Segment Reporting - Segment R_2

Segment Reporting - Segment Reporting Information by Category and Reportable Segment (Parenthetical) (Details)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Segment Reporting Information [Line Items]
Percentage of total revenues represented by largest customer	28.00%	31.00%

Segment Reporting - Summary of

Segment Reporting - Summary of Revenues By Geographic Area (Details) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2022	Mar. 31, 2021
Revenues From External Customers And Long Lived Assets [Line Items]
Revenues, total	[1]	$ 60,036	$ 38,754
Greater China [Member]
Revenues From External Customers And Long Lived Assets [Line Items]
Revenues, total		21,476	25,518
United States [Member]
Revenues From External Customers And Long Lived Assets [Line Items]
Revenues, total		19,067	3,699
Western Europe [Member]
Revenues From External Customers And Long Lived Assets [Line Items]
Revenues, total		7,061	1,369
Asia (excluding China) [Member]
Revenues From External Customers And Long Lived Assets [Line Items]
Revenues, total		5,767	4,302
Latin America [Member]
Revenues From External Customers And Long Lived Assets [Line Items]
Revenues, total		1,886	53
Canada [Member]
Revenues From External Customers And Long Lived Assets [Line Items]
Revenues, total	[2]	1,772	(553)
Russia/the CIS & Ukraine [Member]
Revenues From External Customers And Long Lived Assets [Line Items]
Revenues, total	[3]	1,010	1,886
Rest of the World [Member]
Revenues From External Customers And Long Lived Assets [Line Items]
Revenues, total		$ 1,997	$ 2,480
[1]	The Company’s largest customer represents 28 % of total Revenues for the three months ended March 31, 2022 (2021 — 31 %). No single customer comprises more than 10% of the Company’s total Accounts Receivable as of March 31, 2022 and December 31, 2021 .
[2]	For the three months ended March 31, 2021, the amount attributable to Canada includes a $ 0.5 m illion reversal of previously rec orded revenue and a corresponding reduction in the net investment in lease as a result of a lease modification entered into during the period.
[3]	In addition to Russia, the CIS includes Azerbaijan, Belarus, Kazakhstan, and Kyrgyzstan. As of March 31, 2022, the IMAX network includes 54 theaters in Russia, 9 theaters in Ukraine, and 1 theater in Belarus.

Segment Reporting - Summary o_2

Segment Reporting - Summary of Revenues By Geographic Area (Parenthetical) (Details) $ in Millions	3 Months Ended
	Mar. 31, 2021USD ($)	Mar. 31, 2022Theater
Russia [Member]
Segment Reporting Information [Line Items]
Number of theaters		54
Ukraine [Member]
Segment Reporting Information [Line Items]
Number of theaters		9
Belarus [Member]
Segment Reporting Information [Line Items]
Number of theaters		1
Canada [Member]
Segment Reporting Information [Line Items]
Revenue reversal | $	$ 0.5

Employees Pension and Postret_3

Employees Pension and Postretirement Benefits - Additional Information (Details) - USD ($)	Nov. 01, 2019	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021	Dec. 31, 2020
Deferred Compensation Plan [Member]
Pension and Other Postretirement Benefit Expense (Textual) [Abstract]
Deferred compensation plan description		The Company maintained a nonqualified deferred compensation benefit plan (the “Retirement Plan”) covering the former CEO of IMAX Entertainment and Senior Executive Vice President of the Company. Under the terms of the Retirement Plan, the benefits were due to vest in full if the executive incurred a separation from service from the Company (as defined therein).
Deferred Compensation Plan [Member] | Accrued and Other Liabilities [Member]
Pension and Other Postretirement Benefit Expense (Textual) [Abstract]
Benefit obligation recorded		$ 3,800,000		$ 3,800,000
Deferred Compensation Plan [Member] | Prepaid Expenses [Member]
Pension and Other Postretirement Benefit Expense (Textual) [Abstract]
Company-owned life insurance		$ 3,300,000		3,300,000
Richard L. Gelfond [Member]
Pension and Other Postretirement Benefit Expense (Textual) [Abstract]
Benefit payable	$ 20,300,000
SERP Benefits [Member]
Pension and Other Postretirement Benefit Expense (Textual) [Abstract]
Defined benefit pension plan		The Company has an unfunded defined benefit pension plan, the Supplemental Executive Retirement Plan (the “SERP”), covering its CEO, Richard L.
Benefit Obligation		$ 20,096,000		20,056,000	$ 20,116,000
Interest costs		40,000	$ 100,000	72,000
Companies contribution and expenses during the remainder of 2021		0
SERP Benefits [Member] | Maximum [Member]
Pension and Other Postretirement Benefit Expense (Textual) [Abstract]
Interest costs		100,000
Expected interest costs in the remainder of the year		$ 100,000
Defined Contribution Plan [Member]
Pension and Other Postretirement Benefit Expense (Textual) [Abstract]
Defined contribution pension plans for employees		The Company also maintains defined contribution plans for its employees, including its executive officers. The Company makes contributions to these plans on behalf of employees in an amount up to 5% of their base salary subject to certain prescribed maximums.
Maximum percentage of base salary contributed to Defined Contribution Pension Plan by Company		5.00%
Canadian Plan [Member]
Pension and Other Postretirement Benefit Expense (Textual) [Abstract]
Contribution and recorded expense		$ 300,000	300,000
Us Internal Revenue Code [Member]
Pension and Other Postretirement Benefit Expense (Textual) [Abstract]
Contribution and recorded expense		300,000	200,000
Postretirement Benefits Executives [Member]
Pension and Other Postretirement Benefit Expense (Textual) [Abstract]
Benefit Obligation		700,000		700,000
Postretirement Benefits Executives [Member] | Maximum [Member]
Pension and Other Postretirement Benefit Expense (Textual) [Abstract]
Maximum amount of Postretirement benefit recorded expense		100,000	100,000
Postretirement Benefits Canadian Employees [Member]
Pension and Other Postretirement Benefit Expense (Textual) [Abstract]
Benefit Obligation		1,700,000		$ 1,700,000
Postretirement Benefits Canadian Employees [Member] | Maximum [Member]
Pension and Other Postretirement Benefit Expense (Textual) [Abstract]
Maximum amount of Postretirement benefit recorded expense		$ 100,000	$ 100,000

Employee's Pension and Postreti

Employee's Pension and Postretirement Benefits - Amounts Accrued and Unfunded Status (Details) - Pension Plans, Defined Benefit [Member] - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Amounts Accrued
Obligation, beginning of period	$ 20,056	$ 20,116	$ 20,116
Interest cost	40	$ 100	72
Actuarial gain	0		(132)
Obligation, end of period and unfunded status	$ 20,096		$ 20,056

Financial Instruments - Additio

Financial Instruments - Additional Information (Details) $ in Thousands, ¥ in Millions	3 Months Ended
	Mar. 31, 2022USD ($)Country	Mar. 31, 2021USD ($)shares	Jan. 10, 2022USD ($)	Jan. 10, 2022CNY (¥)	Dec. 31, 2021USD ($)
Financial Instruments (Textual) [Abstract]
Cash and cash equivalents	$ 162,300				$ 189,711
Cash held outside of Canada	$ 96,800				102,100
Number of countries that generate box office | Country	87
Foreign Exchange contract settlement date range	settlement dates throughout 2023
Estimated gains to be reclassified to earnings within the next twelve months	$ 300
Investment in equity securities	1,092				1,087
Investment in equity securities - cost	$ 15,200
Equity securities restrictions	lock-up period of six months
Fixed Income Securities [Member]
Financial Instruments (Textual) [Abstract]
Equity Investment, Debt Securities	$ 1,100				1,100
Preferred Stock [Member] | Other Assets [Member]
Financial Instruments (Textual) [Abstract]
Investment in equity securities - cost	$ 1,000				1,000
Wanda Film (Horgos) Co. Ltd [Member]
Financial Instruments (Textual) [Abstract]
Investments in film			$ 4,700	¥ 30
Maoyan [Member]
Financial Instruments (Textual) [Abstract]
Realized gain on fair value of equity securities		$ 5,200
Number of shares sold | shares		7,949,000
Gross proceeds from sale of investment		$ 17,800
Maximum [Member]
Financial Instruments (Textual) [Abstract]
Equity securities percentage ownership	1.00%
China [Member]
Financial Instruments (Textual) [Abstract]
Cash held/undistributed earnings	$ 73,400				$ 76,300

Financial Instruments - Fair Va

Financial Instruments - Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Other Financial Instrument
Cash and cash equivalents	$ 162,300	$ 189,711
Net investment in sales-type leases	27,850	28,392
Equity securities	1,092	1,087
Equity securities	15,200
Foreign exchange contracts forwards	423	79
Credit Facility borrowings	(1,080)	(2,472)
Carrying Amount, Fair Value Disclosure [Member] | Fair Value, Inputs, Level 1 [Member]
Other Financial Instrument
Cash and cash equivalents	162,300	189,711
Equity securities	1,092	1,087
Carrying Amount, Fair Value Disclosure [Member] | Fair Value, Inputs, Level 2 [Member]
Other Financial Instrument
Net financed sales receivables	103,660	112,657
Net investment in sales-type leases	27,850	28,392
Equity securities	1,000	1,000
COLI	3,305	3,275
Working Capital Facility borrowings	(3,627)	(3,612)
Convertible Notes	(230,000)	(230,000)
Carrying Amount, Fair Value Disclosure [Member] | Fair Value, Inputs, Level 3 [Member]
Other Financial Instrument
Interest in film classified as a financial instrument	4,726
Carrying Amount, Fair Value Disclosure [Member] | Designated as Hedging Instrument [Member] | Fair Value, Inputs, Level 2 [Member]
Other Financial Instrument
Foreign exchange contracts forwards	423	79
Estimate of Fair Value, Fair Value Disclosure [Member] | Fair Value, Inputs, Level 1 [Member]
Other Financial Instrument
Cash and cash equivalents	162,300	189,711
Equity securities	1,092	1,087
Estimate of Fair Value, Fair Value Disclosure [Member] | Fair Value, Inputs, Level 2 [Member]
Other Financial Instrument
Net financed sales receivables	103,740	112,662
Net investment in sales-type leases	27,902	28,407
Equity securities	1,000	1,000
COLI	3,305	3,275
Working Capital Facility borrowings	(3,627)	(3,612)
Convertible Notes	(220,618)	(223,100)
Estimate of Fair Value, Fair Value Disclosure [Member] | Fair Value, Inputs, Level 3 [Member]
Other Financial Instrument
Interest in film classified as a financial instrument	4,726
Estimate of Fair Value, Fair Value Disclosure [Member] | Designated as Hedging Instrument [Member] | Fair Value, Inputs, Level 2 [Member]
Other Financial Instrument
Foreign exchange contracts forwards	$ 423	$ 79

Financial Instruments - Notiona

Financial Instruments - Notional Amount of Derivative (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Foreign Exchange Contract [Member] | Designated as Hedging Instrument [Member]
Derivatives Fair Value [Line Items]
Foreign exchange contracts — Forwards	$ 23,569	$ 26,702

Financial Instruments - Fair _2

Financial Instruments - Fair Value of Foreign Exchange Contracts (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Derivatives Fair Value [Line Items]
Foreign exchange contracts - designated forwards	$ 423	$ 79
Other Assets [Member] | Designated as Hedging Instrument [Member]
Derivatives Fair Value [Line Items]
Foreign currency derivatives	$ 423	184
Accrued and other liabilities [Member] | Designated as Hedging Instrument [Member]
Derivatives Fair Value [Line Items]
Derivative Liability, Fair Value		$ (105)

Financial Instruments - Derivat

Financial Instruments - Derivatives in Foreign Currency Hedging Relationships (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Derivative Instruments Gain Loss [Line Items]
Derivative Gain Recognized in OCI (Effective Portion)	$ 315	$ 295
Location of Derivative (Loss) Gain Reclassified from AOCI into Income (Effective Portion)	(29)	231
Fair Value Hedging [Member]
Derivative Instruments Gain Loss [Line Items]
Derivative Gain Recognized in OCI (Effective Portion)	315	295
Selling, General and Administrative Expenses [Member]
Derivative Instruments Gain Loss [Line Items]
Location of Derivative (Loss) Gain Reclassified from AOCI into Income (Effective Portion)	$ (29)	$ 231

Financial Instruments - Non Des

Financial Instruments - Non Designated Derivatives in Foreign Currency Relationships (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2021USD ($)
Foreign Exchange Contracts - Forwards [Member] | Not Designated as Hedging Instrument [Member] | Selling, General and Administrative Expenses [Member]
Derivative Instruments Gain Loss [Line Items]
Location of Derivative Gain	$ 22

Non-Controlling Interests - Add

Non-Controlling Interests - Additional Information (Details) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2022USD ($)	Mar. 31, 2021USD ($)	Dec. 31, 2014USD ($)Film	Dec. 31, 2021USD ($)
Redeemable Noncontrolling Interest [Line Items]
Non-controlling interests	$ 74,081			$ 73,531
Net income (loss) attributable to non-controlling interests	1,659	$ 4,340
Investment in film assets	$ 5,107	2,213
IMAX China Noncontrolling Interest
Redeemable Noncontrolling Interest [Line Items]
Minority Interest Ownership Percentage By Company	71.41%			71.11%
IMAX China
Redeemable Noncontrolling Interest [Line Items]
Non-controlling interests	$ 74,100			$ 73,500
Net income (loss) attributable to non-controlling interests	1,700	4,300
Other Noncontrolling Interest [Member]
Redeemable Noncontrolling Interest [Line Items]
Net income (loss) attributable to non-controlling interests	$ 3	$ (9)
Non-controlling interest description	The Company’s Original Film Fund was established in 2014 to co-finance a portfolio of 10 original large-format films. The initial investment in the Original Film Fund was committed by a third party in the amount of $25.0 million, with the possibility of contributing additional funds. The Company has contributed $9.0 million to the Original Film Fund since 2014 and has reached its maximum contribution.
Number of expected original films | Film			10
Investment in film assets	$ 22,300
Other Noncontrolling Interest [Member] | Third Party [Member]
Redeemable Noncontrolling Interest [Line Items]
Film fund committed capital contribution			$ 25,000
Other Noncontrolling Interest [Member] | IMAX [Member]
Redeemable Noncontrolling Interest [Line Items]
Film fund contributions paid	$ 9,000

Non-Controlling Interests - Sum

Non-Controlling Interests - Summary of Movement of the Non-controlling Interest in Temporary Equity Related to Original Film Fund (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Non-controlling Interests
Net income (loss)	$ 1,659	$ 4,340
Other Noncontrolling Interest [Member]
Non-controlling Interests
Beginning Balance	758	759
Net income (loss)	3	(9)
Ending Balance	$ 761	$ 750