IMAX CORP PP&E Disclosure
As of December 31, 2025 | |||||||||||||||||
(In thousands of U.S. Dollars) | Cost | Accumulated Depreciation | Net Book Value | ||||||||||||||
| Equipment leased or held for use: | |||||||||||||||||
IMAX System components(1)(2)(3) | $ | 345,386 | $ | 197,966 | $ | 147,420 | |||||||||||
Camera and connectivity equipment | 15,962 | 7,855 | 8,107 | ||||||||||||||
| Sub-total | 361,348 | 205,821 | 155,527 | ||||||||||||||
Assets under construction(4) | 13,507 | — | 13,507 | ||||||||||||||
Right-of-use assets(5) | 12,107 | 2,183 | 9,924 | ||||||||||||||
Other property, plant and equipment: | |||||||||||||||||
| Land | 8,203 | — | 8,203 | ||||||||||||||
| Buildings | 81,573 | 38,283 | 43,290 | ||||||||||||||
Office and production equipment(6) | 40,031 | 30,242 | 9,789 | ||||||||||||||
Leasehold improvements | 6,723 | 4,053 | 2,670 | ||||||||||||||
| Sub-total | 136,530 | 72,578 | 63,952 | ||||||||||||||
| Total | $ | 523,492 | $ | 280,582 | $ | 242,910 | |||||||||||
As of December 31, 2024 | |||||||||||||||||
(In thousands of U.S. Dollars) | Cost | Accumulated Depreciation | Net Book Value | ||||||||||||||
| Equipment leased or held for use: | |||||||||||||||||
IMAX System components(1)(2)(3) | $ | 331,412 | $ | 184,297 | $ | 147,115 | |||||||||||
Camera and connectivity equipment | 9,400 | 6,280 | 3,120 | ||||||||||||||
| Sub-total | 340,812 | 190,577 | 150,235 | ||||||||||||||
Assets under construction(4) | 15,110 | — | 15,110 | ||||||||||||||
Right-of-use assets(5) | 12,421 | 1,380 | 11,041 | ||||||||||||||
Other property, plant and equipment: | |||||||||||||||||
| Land | 8,203 | — | 8,203 | ||||||||||||||
| Buildings | 81,258 | 36,029 | 45,229 | ||||||||||||||
Office and production equipment(6) | 41,380 | 33,872 | 7,508 | ||||||||||||||
Leasehold improvements | 6,858 | 4,051 | 2,807 | ||||||||||||||
| Sub-total | 137,699 | 73,952 | 63,747 | ||||||||||||||
| Total | $ | 506,042 | $ | 265,909 | $ | 240,133 | |||||||||||
 (1)Included in system components are assets with costs of $1.4 million (2024 — $1.4 million) and accumulated depreciation of $1.4 million (2024 — $1.4 million) that are leased to customers under operating leases. (2)Included in system components are assets with costs of $328.8 million (2024 — $313.9 million) and accumulated depreciation of $184.7 million (2024 — $171.4 million) that are used in JRSAs. (3)In 2025, the Company recorded charges of $0.6 million (2024 — $3.4 million; 2023 — $0.8 million) in Costs and Expenses Applicable to Technology Rentals mostly related to the write-down of systems under JRSAs resulting from contract amendments. (4)Included in assets under construction are components with costs of $9.5 million (2024 — $6.9 million) that will be utilized to construct assets to be used in JRSAs. (5)The right-of-use assets primarily include operating leases for office and warehouse space. (6)Fully depreciated office and production equipment is still in use by the Company. In 2025, the Company identified and wrote off $6.6 million (2024 — $0.7 million) of office and production equipment that was fully depreciated and no longer in use. | |||||||||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 25, 2026 | Showing above |
| 2024 | Feb 19, 2025 | |
| 2023 | Feb 27, 2024 | |
| 2022 | Feb 22, 2023 | |
| 2021 | Feb 24, 2022 | |
| 2020 | Mar 4, 2021 | |
| 2019 | Feb 19, 2020 | |
| 2018 | Feb 26, 2019 | |
| 2016 | Feb 23, 2017 | |
| 2015 | Feb 24, 2016 | |
About PP&E Disclosures
The PP&E disclosure details a company's physical asset base — land, buildings, machinery, and equipment — along with the depreciation methods and useful life assumptions that determine how these costs flow through the income statement. Capitalization policy thresholds reveal management's judgment on the boundary between expense and asset, directly affecting both reported earnings and asset values.
Key signals: changes in estimated useful lives or depreciation methods can materially shift reported earnings without any operational change. Compare capital expenditures against depreciation expense — when capex consistently trails depreciation, the asset base may be aging and underinvested. Watch for large asset impairments or write-downs that signal overvalued carrying amounts. Asset retirement obligations reveal future environmental or decommissioning costs that are often underappreciated. Compare PP&E intensity (PP&E-to-revenue) against industry peers to assess capital efficiency and competitive positioning.