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Receivables, net of allowance of $5.4 and $5.7, respectively

^[1]

51.4

71.3

85.4

120.4

Prepaid expenses (including $0.2 and $0.0 to founding members, respectively)

4.9

3.1

Deferred tax assets

2.7

4.2

Income tax receivable

8.8

7.6

Current portion of notes receivable - founding members

^[2]

4.2

Other current assets - related parties

0.9

Total current assets

174.9

265.5

NON-CURRENT ASSETS:

Property and equipment, net of accumulated depreciation of $70.9 and $69.5, respectively

24.9

25.6

Intangible assets, net of accumulated amortization of $53.4 and $48.7, respectively

503.7

492.0

Deferred tax assets

244.9

244.2

Debt issuance costs, net of accumulated amortization of $15.7 and $15.0, respectively

17.0

17.7

Long-term notes receivable, net of current portion - founding members

^[2]

20.8

Other investments - related parties

1.1

Amounts due to founding members

^[1]

10.8

Other assets

0.3

0.4

Total non-current assets

823.5

801.8

TOTAL ASSETS

998.4

1,067.3

CURRENT LIABILITIES:

8.6

30.1

Payable to founding members under tax receivable agreement

^[3]

9.8

28.6

Accrued expenses

20.4

19.7

Accrued payroll and related expenses

5.9

13.9

Accounts payable (including $0.7 and $0.8 to related party affiliates, respectively)

9.8

20.5

Deferred revenue

6.3

4.7

Deferred tax liability

0.2

Current portion of long-term debt

14.0

Total current liabilities

75.0

131.5

NON-CURRENT LIABILITIES:

Long-term debt

893.0

876.0

Deferred tax liability

61.1

61.9

Payable to founding members under tax receivable agreement

^[3]

148.5

144.0

Total non-current liabilities

1,102.6

1,081.9

Total liabilities

1,177.6

1,213.4

COMMITMENTS AND CONTINGENCIES (NOTE 6)

EQUITY/(DEFICIT):

Preferred stock, $0.01 par value; 10,000,000 shares authorized, none issued and outstanding, respectively

Common stock, $0.01 par value; 175,000,000 shares authorized, 58,716,346 and 58,519,137 issued and outstanding, respectively

0.6

Additional paid in capital (deficit)

(265.7)

(271.7)

Retained earnings (distributions in excess of earnings)

(124.5)

(80.0)

Accumulated other comprehensive loss

(2.5)

(3.2)

Total NCM, Inc. stockholders' equity/(deficit)

(392.1)

(354.3)

Noncontrolling interests

212.9

208.2

Total equity/(deficit)

(179.2)

(146.1)

TOTAL LIABILITIES AND EQUITY

$ 998.4

$ 1,067.3

[1]	Short-Term and Long-Term Marketable Securities — The carrying amount and fair value of the marketable securities are equivalent since the Company accounts for these instruments at fair value. The Company’s government agency bonds and commercial paper are valued using third party broker quotes. The value of the Company’s government agency bonds is derived from quoted market information. The inputs in the valuation are generally classified as Level 1 given the active market for these securities; however if an active market does not exist, the inputs are recorded at a lower level in the fair value hierarchy. The value of commercial paper is derived from pricing models using inputs based upon market information, including contractual terms, market prices and yield curves. The inputs to the valuation pricing models are observable in the market, and as such are generally classified as Level 2 in the fair value hierarchy. For the three months ended March 27, 2014 and March 28, 2013, there was an inconsequential amount of net realized gains (losses) recognized in interest income and an inconsequential amount of net unrealized holding gains (losses) included in other comprehensive income. Original cost of short-term marketable securities is based on the specific identification method. As of March 27, 2014 and December 26, 2013, there were no gross unrealized losses related to individual securities that had been in a continuous loss position for 12 months or longer.
[2]	Refer to the discussion of notes receivable from the founding members above.
[3]	The Company paid the founding members $25.1 million in the first quarter of 2014, of which $6.7 million was net operating loss carrybacks for the 2009, 2010 and 2011 tax years and $18.4 million was for the 2013 tax year

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($)
$ in Millions

Mar. 27, 2014

Dec. 26, 2013

Allowance for doubtful accounts receivable

$ 5.4

$ 5.7

Accumulated depreciation, property and equipment

4.9

3.1

70.9

69.5

Accumulated amortization, intangible assets

53.4

48.7

Accumulated amortization, debt issuance costs

15.7

15.0

Accounts payable, related parties

$ 0.7

$ 0.8

Preferred stock, par value

$ 0.01

Preferred stock, shares authorized

10,000,000

Preferred stock, shares issued

Preferred stock, shares outstanding

Common stock, par value

$ 0.01

Common stock, shares authorized

175,000,000

Common stock, shares issued

58,716,346

58,519,137

Common stock, shares outstanding

58,716,346

58,519,137

Purchase Of Movie Tickets And Concession Products [Member]

Advertising (including revenue from founding members of $9.5 and $8.9, respectively)

$ 0.2

^[1]

$ 0.0

[1]	Used primarily for marketing to NCM LLC’s advertising clients.

Condensed Consolidated Statements Of Income (Loss) - USD ($)
$ in Millions

3 Months Ended

Mar. 27, 2014

Mar. 28, 2013

REVENUE:

$ 70.2

$ 73.7

Fathom Events

8.5

Total

70.2

82.2

OPERATING EXPENSES:

Advertising operating costs (including $0.5 and $0.6 to related parties, respectively)

5.0

5.7

Fathom Events operating costs (including $0.0 and $0.9 to founding members, respectively)

5.8

Network costs

4.6

5.0

Theatre access fees-founding members

^[1]

17.4

15.6

Selling and marketing costs (including $0.2 and $0.2 to founding members, respectively)

15.0

15.4

Administrative and other costs

7.6

7.7

Depreciation and amortization

7.8

5.4

Total

57.4

60.6

OPERATING INCOME

12.8

21.6

NON-OPERATING EXPENSES:

Interest on borrowings

13.1

13.3

Interest income (including $0.3 and $0.0 from founding members, respectively)

(0.4)

(0.1)

Accretion of interest on the discounted payable to founding members under tax receivable agreement

3.8

3.4

Amortization of terminated derivatives

2.5

Other non-operating expense

0.1

Total

19.1

(LOSS) INCOME BEFORE INCOME TAXES

(6.3)

2.5

Income tax (benefit) expense

(1.7)

0.6

CONSOLIDATED NET (LOSS) INCOME

(4.6)

1.9

Less: Net (loss) income attributable to noncontrolling interests

(1.5)

2.9

NET LOSS ATTRIBUTABLE TO NCM, INC.

$ (3.1)

$ (1.0)

NET LOSS PER NCM, INC. COMMON SHARE:

Basic

$ (0.05)

$ (0.02)

Diluted

$ (0.05)

$ (0.02)

WEIGHTED AVERAGE SHARES OUTSTANDING:

Basic

58,618,800

54,611,614

Diluted

58,618,800

54,611,614

Dividends declared per common share

$ 0.72

$ 0.22

[1]	Comprised of payments per theatre attendee, payments per digital screen with respect to the founding member theatres included in the Company’s network and payments for access to higher quality digital cinema equipment

Condensed Consolidated Statements Of Income (Loss) (Parenthetical) - USD ($)
$ in Millions

3 Months Ended

Mar. 27, 2014

Mar. 28, 2013

Revenue from founding members

$ 9.5

$ 8.9

Interest income - founding members

0.3

^[1]

0.0

Advertising Operating Costs Including Movie Tickets And Concessions [Member]

Costs to founding members/related party affiliates

0.5

0.6

Fathom Events Operating Cost [Member]

Costs to founding members/related party affiliates

0.0

0.9

Selling And Marketing Cost [Member]

Costs to founding members/related party affiliates

$ 0.2

[1]

On December 26, 2013, NCM LLC sold its Fathom Events business to a newly formed limited liability company (AC JV, LLC) owned 32% by each of the founding members and 4% by NCM LLC. In consideration for the sale, NCM LLC received a total of $25.0 million in promissory notes from its founding members (one-third or approximately $8.3 million from each founding member). The notes bear interest at a fixed rate of 5.0% per annum, compounded annually. Interest and principal payments are due annually in six equal installments commencing on the first anniversary of the closing.

Condensed Consolidated Statements Of Comprehensive Income (Loss) - USD ($) $ in Millions	3 Months Ended
	Mar. 27, 2014	Mar. 28, 2013
Consolidated Statements Of Comprehensive Income (Loss) [Abstract]
CONSOLIDATED NET (LOSS) INCOME, NET OF TAX	$ (4.6)	$ 1.9
OTHER COMPREHENSIVE INCOME, NET OF TAX:
Amortization of terminated derivatives, net of tax of $0.4 and $0.4, respectively	2.1	2.1
CONSOLIDATED COMPREHENSIVE (LOSS) INCOME	(2.5)	4.0
Less: Comprehensive (loss) income attributable to noncontrolling interests	(0.1)	4.3
COMPREHENSIVE LOSS ATTRIBUTABLE TO NCM, INC.	$ (2.4)	$ (0.3)

Condensed Consolidated Statements Of Comprehensive Income (Loss) (Parenthetical) - USD ($) $ in Millions	3 Months Ended
	Mar. 27, 2014	Mar. 28, 2013
Consolidated Statements Of Comprehensive Income (Loss) [Abstract]
Amortization of terminated derivatives, tax	$ 0.4	$ 0.4

Condensed Consolidated Statements Of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Mar. 27, 2014	Mar. 28, 2013
CASH FLOWS FROM OPERATING ACTIVITIES:
Consolidated net (loss) income	$ (4.6)	$ 1.9
Adjustments to reconcile consolidated net income (loss) to net cash provided by operating activities:
Deferred income tax expense	6.2	5.4
Depreciation and amortization	7.8	5.4
Non-cash share-based compensation	2.0	2.1
Excess tax benefit from share-based compensation	0.2
Accretion of interest on the discounted payable to founding members under tax receivable agreement	3.8	3.4
Amortization of terminated derivatives	2.5	2.5
Amortization of debt issuance costs	0.7	0.6
Changes in operating assets and liabilities:
Receivables, net	35.0	34.9
Accounts payable and accrued expenses	(17.0)	(9.2)
Amounts due to founding members	2.7	1.3
Payment to founding members under tax receivable agreement	(25.1)	(10.1)
Income taxes and other	(2.3)	(9.6)
Net cash provided by operating activities	11.9	28.6
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property and equipment	(2.1)	(2.7)
Purchases of marketable securities	(37.3)	(16.8)
Proceeds from sale and maturities of marketable securities	46.5	26.1
Purchases of intangible assets from affiliate circuits	(0.5)	(0.5)
Net cash provided by investing activities	6.6	6.1
CASH FLOWS FROM FINANCING ACTIVITIES:
Payment of dividends	(42.3)	(12.1)
Proceeds from borrowings	49.0	18.0
Repayments of borrowings	(32.0)	(18.0)
Founding member integration payments	0.7
Distributions to founding members	(31.0)	(20.9)
Excess tax benefit from share-based compensation	(0.2)
Proceeds from stock option exercises	0.5	1.4
Repurchase of stock for restricted stock tax withholding	(1.3)	(1.7)
Net cash used in financing activities	(56.6)	(33.3)
CHANGE IN CASH AND CASH EQUIVALENTS	(38.1)	1.4
Cash and cash equivalents at beginning of period	54.7	72.4
Cash and cash equivalents at end of period	16.6	73.8
Supplemental disclosure of non-cash financing and investing activity:
Purchase of an intangible asset with NCM LLC equity	16.4	69.0
Accrued distributions to founding members	6.2	8.0
(Decrease) increase in dividends not requiring cash in the period	(0.9)	0.4
Supplemental disclosure of cash flow information:
Cash paid for interest	10.2	$ 11.2
Refunds for income taxes, net of payments	$ (7.0)

Condensed Consolidated Statements Of Equity/(Deficit) - USD ($) $ in Millions	Common Stock [Member]	Additional Paid In Capital (Deficit) [Member]	Retained Earnings (Distribution In Excess Of Earnings) [Member]	Accumulated Other Comprehensive Loss [Member]	Noncontrolling Interest [Member]	Total
Balance at Dec. 27, 2012	$ 0.5	$ (362.4)	$ (70.5)	$ (6.7)	$ 82.7	$ (356.4)
Balance, shares at Dec. 27, 2012	54,486,259
Distributions to founding members					(8.0)	(8.0)
NCM LLC equity returned for purchase of intangible asset		32.4			36.6	69.0
Income tax and other impacts of subsidiary ownership changes		(10.1)			3.3	(6.8)
Comprehensive income, net of tax			(1.0)	0.7	4.3	4.0
Share-based compensation issued		(0.3)				(0.3)
Share-based compensation issued, shares	374,804
Share-based compensation expense/capitalized		1.4			0.7	2.1
Cash dividends declared			(12.4)			(12.4)
Balance at Mar. 28, 2013	$ 0.5	(339.0)	(83.9)	(6.0)	119.6	(308.8)
Balance, shares at Mar. 28, 2013	54,861,063
Balance at Dec. 26, 2013	$ 0.6	(271.7)	(80.0)	(3.2)	208.2	(146.1)
Balance, shares at Dec. 26, 2013	58,519,137
Distributions to founding members					(6.2)	(6.2)
NCM LLC equity returned for purchase of intangible asset		7.5			8.9	16.4
Income tax and other impacts of subsidiary ownership changes		(2.2)			1.5	(0.7)
Comprehensive income, net of tax			(3.1)	0.7	(0.1)	(2.5)
Share-based compensation issued		(0.9)				(0.9)
Share-based compensation issued, shares	197,209
Share-based compensation expense/capitalized		1.4			0.6	2.0
Excess tax benefit from share-based compensation		0.2				0.2
Cash dividends declared			(41.4)			(41.4)
Balance at Mar. 27, 2014	$ 0.6	$ (265.7)	$ (124.5)	$ (2.5)	$ 212.9	$ (179.2)
Balance, shares at Mar. 27, 2014	58,716,346

Condensed Consolidated Statements Of Equity/(Deficit) (Parenthetical) - $ / shares	3 Months Ended
	Mar. 27, 2014	Mar. 28, 2013
Consolidated Statements Of Equity/(Deficit) [Abstract]
Dividends per share	$ 0.72	$ 0.22

The Company

3 Months Ended

Mar. 27, 2014

The Company

The Company

1. the company

Description of Business

National CineMedia, Inc. (“NCM, Inc.”) was incorporated in Delaware as a holding company with the sole purpose of becoming a member and sole manager of National CineMedia, LLC (“NCM LLC”), an LLC owned by NCM, Inc., American Multi-Cinema, Inc. and AMC ShowPlace Theatres, Inc. (“AMC”), wholly owned subsidiaries of AMC Entertainment, Inc. (“AMCE”), Regal Cinemas, Inc. and Regal CineMedia Holdings, LLC, wholly owned subsidiaries of Regal Entertainment Group (“Regal”) and Cinemark Media, Inc. and Cinemark USA, Inc., wholly owned subsidiaries of Cinemark Holdings, Inc. (“Cinemark”). The terms “NCM”, “the Company” or “we” shall, unless the context otherwise requires, be deemed to include the consolidated entity. The Company operates the largest digital in-theatre network in North America, allowing NCM to sell advertising (the “Services”) under long-term exhibitor services agreements (“ESAs”) with AMC, Regal and Cinemark. AMC, Regal and Cinemark and their affiliates are referred to in this document as “founding members.” NCM LLC also provides the Services to certain third-party theatre circuits under network affiliate agreements referred to in this document as “network affiliates”, which expire at various dates.

As of March 27, 2014, NCM LLC had 128,259,925 common membership units outstanding, of which 58,716,346 (45.8%) were owned by NCM, Inc., 25,792,942 (20.1%) were owned by Regal, 24,556,136 (19.1%) were owned by Cinemark and 19,194,501 (15.0%) were owned by AMC. The membership units held by the founding members are exchangeable into NCM, Inc. common stock on a one-for-one basis.

On December 26, 2013, NCM LLC sold its Fathom Events business to a newly formed limited liability company owned 32% by each of the founding members and 4% by NCM LLC, as described further in Note 4—Related Party Transactions.

Basis of Presentation

The Company has prepared the unaudited condensed consolidated financial statements and related notes of NCM, Inc. in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and the rules and regulations of the Securities and Exchange Commission (“SEC”). Accordingly, certain information and footnote disclosures typically included in an annual report have been condensed or omitted for this quarterly report. The balance sheet as of December 26, 2013 is derived from the audited financial statements of NCM, Inc. Therefore, the unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s annual report on Form 10-K filed for the fiscal year ended December 26, 2013.

In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly in all material respects the financial position, results of operations and cash flows for all periods presented have been made. The Company’s business is seasonal and for this and other reasons operating results for interim periods may not be indicative of the Company’s full year results or future performance. As a result of the various related party agreements discussed in Note 4—Related Party Transactions, the operating results as presented are not necessarily indicative of the results that might have occurred if all agreements were with non-related third parties.

Estimates— The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates include those related to the reserve for uncollectible accounts receivable, share-based compensation, and income taxes. Actual results could differ from those estimates.

Significant Accounting Policies

The Company’s annual financial statements included in its Form 10-K filed for the fiscal year ended December 26, 2013 contain a complete discussion of the Company’s significant accounting policies.

Segment Reporting— Advertising is the principal business activity of the Company and is the Company’s reportable segment under the requirements of ASC 280, Segment Reporting (“ASC 280”). Until its sale, Fathom Events was an operating segment under ASC 280, but did not meet the annual quantitative thresholds for segment reporting. The Company does not evaluate its segments on a fully allocated cost basis, nor does the Company track segment assets separately. Therefore, the measure of segment operating income net of direct expenses presented herein is not prepared on the same basis as operating income in the unaudited condensed consolidated statements of income and the results are not indicative of what segment results of operations would have been had it been operated on a fully allocated cost basis. The Company cautions that it would be inappropriate to assume that unallocated operating costs are incurred proportional to segment revenue or any directly identifiable segment expenses. Refer to Note 9—Segment Reporting.

Concentration of Credit Risk and Significant Customers— Bad debts are provided for using the allowance for doubtful accounts method based on historical experience and management’s evaluation of outstanding receivables at the end of the period. Receivables are written off when management determines amounts are uncollectible. Trade accounts receivable are uncollateralized and represent a large number of geographically dispersed debtors. The collectability risk is reduced by dealing with large, national advertising agencies who have strong reputations in the advertising industry and clients with stable financial positions. As of March 27, 2014 and December 26, 2013, there were no advertising agency groups or individual customers through which the Company sources national advertising revenue representing more than 10% of the Company’s outstanding gross receivable balance. During the three months ended March 27, 2014, revenue related to NCM LLC’s founding members’ beverage supplier accounted for 13.3% of total revenue. During the three months ended March 28, 2013, there were no customers that accounted for more than 10% of revenue.

Share-Based Compensation—The Company has issued stock options, restricted stock and restricted stock units. In 2014 and 2013, the Company did not grant stock options. Restricted stock and restricted stock units granted prior to 2013 vest upon the achievement of Company performance measures and service conditions. In 2013, the Company granted restricted stock and restricted stock units that vest upon the achievement of Company performance measures and service conditions, or only service conditions. In 2014, restricted stock grants for Company officers vest upon the achievement of Company performance measures and service conditions, or only service conditions, while non-officers grants vest only upon the achievement of service conditions. Compensation expense of restricted stock that vests upon the achievement of Company performance measures is based on management’s financial projections and the probability of achieving the projections, which require considerable judgment. A cumulative adjustment is recorded to share-based compensation expense in periods that management changes its estimate of the number of shares expected to vest. Ultimately, the Company adjusts the expense recognized to reflect the actual vested shares following the resolution of the performance conditions. Dividends are accrued when declared on all unvested restricted stock and are only paid with respect to shares that actually vest. During the three months ended March 27, 2014 and March 28, 2013, respectively, 247,988 and 359,528 shares of restricted stock and restricted stock units vested. During the three months ended March 27, 2014 and March 28, 2013, respectively, 21,298 and 130,615 stock options were exercised at a weighted average exercise price of $15.35 and 10.56 per share, respectively.

In connection with the Company’s March 2014 special cash dividend of $0.50 per share and pursuant to the antidilution adjustment terms of the Company’s Equity Incentive Plan, the exercise price and the number of shares of common stock subject to options held by the Company’s employees were adjusted to prevent dilution and restore their economic value that existed immediately before the special dividend. The antidilution adjustments made with respect to such options resulted in a decrease in the range of exercise prices from $5.35 - $24.68 per share to $5.18 - $23.90 per share and an increase in the aggregate number of shares issuable upon exercise of such options by 98,589 shares, or 3.3%, of previously outstanding options. The number of shares authorized under the Equity Incentive Plan increased by an equivalent number of shares. There were no accounting consequences for the changes made to reduce the exercise prices and increase the number of underlying options as a result of the special cash dividend because the aggregate fair values of the awards immediately before and after the modifications were the same.

Consolidation— NCM, Inc. consolidates the accounts of NCM LLC under the provision of ASC 810, Consolidation (“ASC 810”). Under ASC 810, a managing member of a limited liability company (“LLC”) is presumed to control the LLC, unless the non-managing members have the right to dissolve the entity or remove the managing member without cause, or if the non-managing members have substantive participating rights. The non-managing members of NCM LLC do not have dissolution rights or removal rights. NCM, Inc. has evaluated the provisions of the NCM LLC membership agreement and has concluded that the various rights of the non-managing members are not substantive participation rights under ASC 810, as they do not limit NCM, Inc.’s ability to make decisions in the ordinary course of business.

The following table presents the changes in NCM, Inc.’s equity resulting from net income attributable to NCM, Inc. and transfers to or from noncontrolling interests (in millions):



	Three Months Ended
	March 27, 2014		March 28, 2013
Net loss attributable to NCM, Inc.	$	(3.1)	$	(1.0)
NCM LLC equity issued for purchase of intangible asset		7.5		32.4
Income tax and other impacts of subsidiary ownership changes		(2.2)		(10.1)
Change from net loss attributable to NCM, Inc. and transfers from noncontrolling interests	$	2.2	$	21.3

Income Taxes—Income taxes are accounted for under the asset and liability method, which requires recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements. Under this method, deferred tax assets and liabilities are determined based on the differences between the financial statements and tax basis of assets and liabilities using enacted tax rates in effect for the year in which differences are expected to be recovered or settled pursuant to the provisions of ASC 740, Income Taxes. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date.

The Company records a valuation allowance if it is deemed more likely than not that all or a portion of its deferred income tax assets will not be realized, which will be assessed on an on-going basis. In addition, income tax rules and regulations are subject to interpretation and the application of those rules and regulations require judgment by the Company and may be challenged by the taxation authorities. The Company follows ASC 740-10-25, which requires the use of a two-step approach for recognizing and measuring tax benefits taken or expected to be taken in a tax return and disclosures regarding uncertainties in income tax positions. Only tax positions that meet the more likely than not recognition threshold are recognized.

Recent Accounting Pronouncements

The Company has considered all recently issued accounting pronouncements and does not believe the adoption of such pronouncements will have a material impact on its unaudited condensed consolidated financial statements.

Loss Per Share

3 Months Ended

Mar. 27, 2014

Loss Per Share [Abstract]

Loss Per Share

2. LOSS per share

Basic earnings per share are computed on the basis of the weighted average number of common shares outstanding. Diluted earnings per share is computed on the basis of the weighted average number of common shares outstanding plus the effect of potentially dilutive common stock options, and restricted stock using the treasury stock method. The components of basic and diluted earnings per NCM, Inc. share are as follows:


	Three Months Ended
	March 27, 2014		March 28, 2013
Net loss attributable to NCM, Inc. (in millions)	$	(3.1)	$	(1.0)
Weighted average shares outstanding:
Basic		58,618,800		54,611,614
Add: Dilutive effect of stock options and restricted stock		-		-
Diluted		58,618,800		54,611,614
Loss per NCM, Inc. share:
Basic	$	(0.05)	$	(0.02)
Diluted	$	(0.05)	$	(0.02)

The effect of 68,575,219 and 58,229,424 exchangeable NCM LLC common units held by the founding members for the three months ended March 27, 2014 and March 28, 2013, respectively, have been excluded from the calculation of diluted weighted average shares and earnings per NCM, Inc. share as they were antidilutive. NCM LLC common units do not participate in NCM, Inc. dividends. In addition, there were 5,196,784 and 6,558,355 stock options and non-vested (restricted) shares for the three months ended March 27, 2014 and March 28, 2013, respectively, excluded from the calculation due to the net loss during those periods. The Company’s non-vested (restricted) shares do not meet the definition of a participating security as the dividends will not be paid if the shares do not vest.

Intangible Assets	3 Months Ended
Intangible Assets	Mar. 27, 2014
Intangible Assets [Abstract]
Intangible Assets	3. intangible assets In accordance with NCM LLC’s Common Unit Adjustment Agreement with its founding members, on an annual basis NCM LLC determines the amount of common membership units to be issued to or returned by the founding members based on theatre additions or dispositions during the previous year. During the first quarter of 2014 and 2013, NCM LLC issued 1,087,911 and 4,536,014 common membership units to its founding members, respectively, for the rights to exclusive access to net new theatre screens and attendees added by the founding members to NCM LLC’s network during the previous year. NCM LLC recorded a net intangible asset of $16.4 million and $69.0 million during the first quarter of 2014 and 2013, respectively, as a result of the Common Unit Adjustments. In addition, NCM LLC’s Common Unit Adjustment Agreement requires that a Common Unit Adjustment occur for a specific founding member if its acquisition or disposition of theatres, in a single transaction or cumulatively since the most recent Common Unit Adjustment, results in an attendance increase or decrease in excess of two percent of the annual total attendance at the prior date. If an existing on-screen advertising agreement with an alternative provider is in place with respect to any acquired theatres, the founding members may elect to receive common membership units related to those encumbered theatres in connection with the Common Unit Adjustment. If the founding members make this election, they are required to make payments on a quarterly basis in arrears in accordance with certain run-out provisions pursuant to the ESAs (“integration payments”). During the three months ended March 27, 2014, NCM LLC recorded a reduction to net intangible assets of $0.2 million related to integration payments due from AMC and Cinemark related to their acquisitions of theatres from Rave Cinemas that are encumbered by an existing on-screen advertising agreement with an alternative provider. During the three months ended March 27, 2014 and March 28, 2013, AMC and Cinemark paid a total of $0.7 million and $0.0 million, respectively, in integration payments. The Company’s intangible assets with its founding members are recorded at the fair market value of NCM, Inc.’s publicly traded stock as of the date on which the common membership units were issued. The NCM LLC common membership units are fully convertible into NCM, Inc.’s common stock. In addition, the Company records intangible assets for up-front fees paid to network affiliates upon commencement of a network affiliate agreement. The Company’s intangible assets have a finite useful life and the Company amortizes the assets over the remaining useful life corresponding with the ESAs or the term of the network affiliate agreement. If common membership units are issued to a founding member for newly acquired theatres that are subject to an existing on-screen advertising agreement with an alternative provider, the amortization of the intangible asset commences after the existing agreement expires and NCM LLC can utilize the theatres for all of its services. Integration payments are calculated based upon the advertising cash flow that the Company would have generated if it had exclusive access to sell advertising in the theatres with pre-existing advertising agreements.

Related-Party Transactions

3 Months Ended

Mar. 27, 2014

Related-Party Transactions

4. RELATED PARTY TRANSACTIONS

Founding Member Transactions –Following is a summary of the transactions between the Company and the founding members (in millions):



	Three Months Ended
Included in the Condensed Consolidated Statements of Income:	March 27, 2014		March 28, 2013
Revenue:
Beverage concessionaire revenue (included in advertising revenue) (1)	$	9.4	$	8.9
Advertising inventory revenue (included in advertising revenue) (2)		0.1		-
Operating expenses:
Theatre access fee (3)		17.4		15.6
Revenue share from Fathom Events (included in Fathom Events operating costs) (4)		-		0.9
Purchase of movie tickets and concession products (included in selling and marketing costs) (5)		0.2		0.2
Non-operating expenses:
Interest income from notes receivable (included in interest income) (6)		0.3		-

(1)

For the three months ended March 27, 2014 and March 28, 2013, the founding members purchased 60 seconds of on-screen advertising time (with a right to purchase up to 90 seconds) from NCM LLC to satisfy their obligations under their beverage concessionaire agreements at a rate specified by the ESA at a 30 second equivalent cost per thousand (“CPM”).

(2)

The value of such purchases is calculated by reference to NCM LLC’s advertising rate card.

(3)

Comprised of payments per theatre attendee, payments per digital screen with respect to the founding member theatres included in the Company’s network and payments for access to higher quality digital cinema equipment.

(4)

Prior to the sale of Fathom Events on December 26, 2013, these payments were at rates (percentage of event revenue) included in the previous ESAs based on the nature of the event.

(5)

Used primarily for marketing to NCM LLC’s advertising clients.

(6)


	As of
Included in the Condensed Consolidated Balance Sheets:	March 27, 2014		December 26, 2013
Purchase of movie tickets and concession products (included in Prepaid expenses) (1)	$	0.2	$	-
Current portion of notes receivable - founding members (2)		4.2		4.2
Long-term portion of notes receivable - founding members (2)		20.8		20.8
Interest receivable on notes receivable (2)		0.3		-
Common unit adjustments and integration payments, net of amortization (included in intangible assets) (3)		474.7		463.4
Current payable to founding members under tax receivable agreement (4)		9.8		28.6
Long-term payable to founding members under tax receivable agreement (4)		148.5		144.0

(1)

Used primarily for marketing to NCM LLC’s advertising clients.

(2)

Refer to the discussion of notes receivable from the founding members above.

(3)

Refer to Note 3—Intangible Assets for further information on integration payments.

(4)

The Company paid the founding members $25.1 million in the first quarter of 2014, of which $6.7 million was net operating loss carrybacks for the 2009, 2010 and 2011 tax years and $18.4 million was for the 2013 tax year.

We have been granted a perpetual, royalty-free license from NCM LLC’s founding members to use certain proprietary software for the delivery of digital advertising and other content through our DCN to screens in the U.S. We have made improvements to this software since the IPO date and we own those improvements, except for improvements that were developed jointly by us and NCM LLC’s founding members.

Pursuant to the terms of the NCM LLC Operating Agreement in place since the completion of the Company’s Initial Public Offering (“IPO”), NCM LLC is required to make mandatory distributions on a proportionate basis to its members of available cash, as defined in the NCM LLC Operating Agreement, on a quarterly basis in arrears. Mandatory distributions for the three months ended March 27, 2014 and March 28, 2013 are as follows (in millions):



	Three Months Ended
	March 27, 2014		March 28, 2013
AMC	$	1.7	$	2.5
Cinemark		2.2		2.4
Regal		2.3		3.1
NCM, Inc.		5.3		7.1
Total	$	11.5	$	15.1

The mandatory distributions of available cash by NCM LLC to its founding members for the three months ended March 27, 2014 of $6.2 million is included in amounts due to founding members on the unaudited Condensed Consolidated Balance Sheets as of March 27, 2014 and will be made in the second quarter of 2014.

Amounts due to founding members as of March 27, 2014 were comprised of the following (in millions):



	AMC		Cinemark		Regal		Total
Theatre access fees, net of beverage revenues	$	0.7	$	0.8	$	1.2	$	2.7
Cost and other reimbursement		(0.1)		(0.2)		-		(0.3)
Distributions payable		1.7		2.2		2.3		6.2
Total	$	2.3	$	2.8	$	3.5	$	8.6

Amounts due to founding members as of December 26, 2013 were comprised of the following (in millions):



	AMC		Cinemark		Regal		Total
Theatre access fees, net of beverage revenues	$	0.6	$	0.7	$	1.1	$	2.4
Cost and other reimbursement		(2.0)		(0.7)		(0.6)		(3.3)
Distributions payable, net		8.7		10.9		11.4		31.0
Total	$	7.3	$	10.9	$	11.9	$	30.1

AC JV, LLC Transactions –Following is a summary of the transactions between NCM LLC and AC JV, LLC (in millions):



	Three Months Ended
Included in the Condensed Consolidated Statements of Income:	March 27, 2014		March 28, 2013
Transition services (included in network costs) (1)	$	0.1	$	-

(1)

In connection with the sale of Fathom Events, NCM LLC entered into a transition services agreement to provide certain corporate overhead services for a fee and reimbursement for the use of facilities and certain services including creative, technical event management and event management for the newly formed limited liability company for a period of nine months following the closing. These fees received by NCM LLC are included as an offset to network costs in the unaudited Condensed Consolidated Statements of Income.



	As of
Included in the Condensed Consolidated Balance Sheets:	March 27, 2014		December 26, 2013
Amounts due from AC JV, LLC (included in other current assets) (1)	$	0.6	$	-
Investment in AC JV, LLC (included in other investments) (2)		1.1		1.1

(1)

As described above, NCM LLC entered into a transition services agreement with AC JV, LLC for reimbursement of certain expenses and NCM LLC continued to perform back office accounting and as such, these amounts primarily represent the settlement of AC JV, LLC’s revenue and expenses.

(2)

The Company accounted for its investment in AC JV, LLC under the equity method of accounting in accordance with ASC 970-323, Investments—Equity Method and Joint Ventures (“ASC 970-323”) because AC JV, LLC is a limited liability company with the characteristics of a limited partnership and ASC 970-323 requires the use of equity method accounting unless the Company’s interest is so minor that it would have virtually no influence over partnership operating and financial policies. The Company concluded that its interest was more than minor under the accounting guidance despite the fact that NCM LLC does not have a representative on AC JV, LLC’s Board of Directors or any voting, consent or blocking rights with respect to the governance or operations of AC JV, LLC. The Company’s proportional share of equity in the earnings of AC JV, LLC is recorded within other non-operating income (expense) in the unaudited Condensed Consolidated Statements of Income.

Related Party Affiliates — NCM LLC enters into network affiliate agreements with network affiliates for NCM LLC to provide in-theatre advertising at theatre locations that are owned by companies that are affiliates of certain of the founding members or directors of NCM, Inc. Related party affiliate agreements are entered into at terms that are similar to those of the Company’s other network affiliates.

Following is a summary of advertising operating costs in the unaudited Condensed Consolidated Statements of Income between the Company and its related party affiliates (in millions):



	Three Months Ended
Related Party Affiliate	March 27, 2014		March 28, 2013
Starplex (1)	$	0.5	$	0.5
Other		-		0.1
Total	$	0.5	$	0.6

Following is a summary of the accounts payable balance between the Company and its related party affiliates included in the unaudited Condensed Consolidated Balance Sheets (in millions):



	As of March 27, 2014
Related Party Affiliate	March 27, 2014		December 26, 2013
Starplex (1)	$	0.7	$	0.7
Other		-		0.1
Total	$	0.7	$	0.8

(1)

Starplex Operating L.P. (“Starplex”) is an affiliate of one of NCM, Inc.’s directors.

Other Transactions – NCM LLC has an agreement with an interactive media company to sell some of its online inventory. One of NCM, Inc.’s directors is also a director of this media company. During the three months ended March 27, 2014 and March 28, 2013, this company generated approximately $0.1 million and $0.1 million, respectively, in revenue for NCM LLC and there was approximately $0.6 million and $0.6 million of accounts receivable due from this company as of March 27, 2014 and December 26, 2013, respectively.

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

Borrowings

3 Months Ended

Mar. 27, 2014

Borrowings [Abstract]

Borrowings

5. BORROWINGS

The following table summarizes NCM LLC’s total outstanding debt as of March 27, 2014 and December 26, 2013 and the significant terms of its borrowing arrangements.



	Outstanding Balance as of
Borrowings ($ in millions)	March 27, 2014		December 26, 2013		Maturity Date	Interest Rate
Revolving Credit Facility	$	37.0	$	20.0	November 26, 2017 (1)	(2)
Term Loans		270.0		270.0	November 26, 2019	(2)
Senior Unsecured Notes		200.0		200.0	July 15, 2021	7.875%
Senior Secured Notes		400.0		400.0	April 15, 2022	6.000%
Total	$	907.0	$	890.0
Less: current portion of long-term debt		(14.0)		(14.0)
Long-term debt, less current portion	$	893.0	$	876.0

(1)A portion of the revolving credit facility has a maturity date of December 31, 2014, as described in further detail below.

(2)The interest rates on the revolving credit facility and term loan are described below.

Senior Secured Credit Facility— NCM LLC’s senior secured credit facility consists of a $124.0 million revolving credit facility and a $270.0 million term loan. On May 2, 2013, NCM LLC entered into an amendment of its senior secured credit facility whereby the facility was increased from $265.0 million to $270.0 million. In connection with the amendment, the interest rates on the revolving credit facility and term loans were reduced as described further below. The obligations under the facility are secured by a lien on substantially all of the assets of NCM LLC.

Revolving Credit Facility— The revolving credit facility portion of NCM LLC’s total borrowings is available, subject to certain conditions, for general corporate purposes of NCM LLC in the ordinary course of business and for other transactions permitted under the senior secured credit facility, and a portion is available for letters of credit.

NCM LLC’s total availability under the revolving credit facility is $124.0 million. The unused line fee is 0.50% per annum. Of the total available, $14.0 million outstanding principal of the revolving credit facility will not be repaid in connection with any future prepayments of the revolving credit facility amounts. This portion of the revolving credit facility will be paid in full by NCM LLC, along with any accrued and unpaid fees and interest, on December 31, 2014. The maturity date applicable to any remaining outstanding revolving credit facility principal is November 26, 2017.

Borrowings under the revolving credit facility bear interest at NCM LLC’s option of either the LIBOR index plus an applicable margin or the base rate (Prime Rate or the Federal Funds Effective Rate, as defined in the senior secured credit facility) plus an applicable margin. The applicable margin for the revolving credit facility is determined quarterly and is subject to adjustment based upon a consolidated net senior secured leverage ratio for NCM LLC (the ratio of secured funded debt less unrestricted cash and cash equivalents, over a non-GAAP measure defined in the senior secured credit facility). On May 2, 2013, NCM LLC entered into an amendment of its senior secured credit facility whereby the applicable margins on the $110.0 million portion of the revolving credit facility decreased by 25 basis points to the LIBOR index plus 2.00% or the base rate plus 1.00%. The margins on the $14.0 million portion of the revolving credit facility discussed above remained unchanged at the LIBOR index plus 1.50% or the base rate plus 0.50%. The weighted-average interest rate on the outstanding balance on the revolving credit facility as of March 27, 2014 was 2.16%.

Term Loans— In connection with the amendment of its senior secured credit facility on May 2, 2013, the interest rate on the term loans decreased by 50 basis points to a rate at NCM LLC’s option of either the LIBOR index plus 2.75% or the base rate (Prime Rate or the Federal Funds Effective Rate, as defined in the senior secured credit facility) plus 1.75%. The weighted-average interest rate on the term loans as of March 27, 2014 was 2.91%. Interest on the term loans is currently paid monthly.

The senior secured credit facility contains a number of covenants and financial ratio requirements, with which NCM LLC was in compliance as of March 27, 2014, including maintaining a consolidated net senior secured leverage ratio of equal to or less than 6.5 times on a quarterly basis. In addition, there are no borrower distribution restrictions as long as NCM LLC’s consolidated net senior secured leverage ratio is below 6.5 times and NCM LLC is in compliance with its debt covenants. As of March 27, 2014, NCM LLC’s consolidated net senior secured leverage ratio was 3.1 times (versus the covenant of 6.5 times).

Senior Unsecured Notes due 2021— On July 5, 2011, NCM LLC completed a private placement of $200.0 million in aggregate principal amount of 7.875% Senior Unsecured Notes (“Senior Unsecured Notes”) for which the registered exchange offering was completed on September 22, 2011. The Senior Unsecured Notes pay interest semi-annually in arrears on January 15 and July 15 of each year, which commenced January 15, 2012. The notes are subordinated to all existing and future secured debt, including indebtedness under NCM LLC’s existing senior secured credit facility and the Senior Secured Notes defined below. The Senior Unsecured Notes contain certain covenants with which NCM LLC was in compliance as of March 27, 2014.

Senior Secured Notes due 2022— On April 27, 2012, NCM LLC completed a private placement of $400.0 million in aggregate principal amount of 6.00% Senior Secured Notes (the “Senior Secured Notes”) for which the registered exchange offering was completed on November 26, 2012. The Senior Secured Notes pay interest semi-annually in arrears on April 15 and October 15 of each year, which commenced October 15, 2012. The Senior Secured Notes are senior secured obligations of NCM LLC, rank the same as NCM LLC’s senior secured credit facility, subject to certain exceptions, and share in the same collateral that secures NCM LLC’s obligations under the senior secured credit facility. The Senior Secured Notes contain certain covenants with which NCM LLC was in compliance as of March 27, 2014.

Commitments And Contingencies	3 Months Ended
Commitments And Contingencies	Mar. 27, 2014
Commitments And Contingencies [Abstract]
Commitments And Contingencies	6. COMMITMENTS AND CONTINGENCIES Legal Actions— The Company is subject to claims and legal actions in the ordinary course of business. The Company believes such claims will not have a material effect on its financial position, results of operations or cash flows. Minimum Revenue Guarantees― As part of the network affiliate agreements entered into in the ordinary course of business under which the Company sells advertising for display in various network affiliate theatre chains, the Company has agreed to certain minimum revenue guarantees on a per attendee basis. If a network affiliate achieves the attendance set forth in their respective agreement, the Company has guaranteed minimum revenue for the network affiliate per attendee if such amount paid under the revenue share arrangement is less than its guaranteed amount. The amount and term varies for each network affiliate, but terms range from three to 20 years, prior to any renewal periods of which some are at the option of the Company. The maximum potential amount of future payments the Company could be required to make pursuant to the minimum revenue guarantees is $40.9 million over the remaining terms of the network affiliate agreements. As of March 27, 2014 and December 26, 2013, the Company had no liabilities recorded for these obligations as such guarantees are less than the expected share of revenue paid to the affiliate. Income Taxes― The Company is subject to taxation in the U.S. and various states. As of March 27, 2014 and December 26, 2013, there was no material liability or expense for the periods then ended recorded for payment of interest and penalties associated with uncertain tax positions or material unrecognized tax positions and the Company’s unrecognized tax benefits were not material.

Fair Value Measurement

3 Months Ended

Mar. 27, 2014

Fair Value Measurement [Abstract]

Fair Value Measurement

7. Fair Value MeasurementS

Fair value is the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value is estimated by applying the following hierarchy, which prioritizes the inputs used to measure fair value into three levels and bases the categorization within the hierarchy upon the lowest level of input that is available and significant to the fair value measurement:

Level 1—Quoted prices in active markets for identical assets or liabilities.

Level 2—Observable inputs other than quoted prices in active markets for identical assets and liabilities, quoted prices for identical or similar assets or liabilities in inactive markets, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.

Level 3—Inputs that are generally unobservable and typically reflect management’s estimate of assumptions that market participants would use in pricing the asset or liability.

Non-Recurring Measurements— Certain assets are measured at fair value on a non-recurring basis. These assets are not measured at fair value on an ongoing basis but are subject to fair value adjustments in certain circumstances. These assets include long-lived assets, intangible assets, cost and equity method investments, notes receivable and borrowings.

Long-Lived Assets, Intangible Assets, Other Investments and Notes Receivable—The Company regularly reviews long-lived assets (primarily property, plant and equipment), intangible assets, investments accounted for under the cost or equity method and notes receivable for impairment whenever events or changes in circumstances indicate that the carrying amounts of the assets may not be fully recoverable. When the estimated fair value is determined to be lower than the carrying value of the asset, an impairment charge is recorded to write the asset down to its estimated fair value.

As of March 27, 2014 and December 26, 2013, the Company had other investments of $1.1 million, which was comprised of the Company’s investment in AC JV, LLC. As of December 26, 2013, this investment was valued using comparative market multiples. As the inputs to the determination of fair value are based upon non-identical assets and use significant unobservable inputs, we have classified the assets as Level 3 in the fair value hierarchy. The fair value of the investments was not estimated as of March 27, 2014 as there were no identified events or changes in circumstances that had a significant adverse effect on the fair value of the investments, and it is not practicable to do so because the equity securities are not in a publicly traded company.

As of March 27, 2014 and December 26, 2013, the Company had notes receivable totaling $25.0 million from its founding members related to the sale of Fathom Events, as described in Note 4—Related Party Transactions. As of December 26, 2013, these notes were valued using comparative market multiples and are classified as Level 3 in the fair value hierarchy as the inputs to the determination of fair value are based upon non-identical assets and use significant unobservable inputs. The fair value of the notes was not estimated as of March 27, 2014 as there were no identified events or changes in circumstances that had a significant adverse effect on the fair value of the notes receivable.

Borrowings—The carrying amount of the revolving credit facility is considered a reasonable estimate of fair value due to its floating-rate terms. The estimated fair values of the Company’s financial instruments where carrying values do not approximate fair value are as follows (in millions):



	As of March 27, 2014				As of December 26, 2013
($ in millions)	Carrying Value		Fair Value (1)		Carrying Value		Fair Value (1)
Term Loans	$	270.0	$	269.1	$	270.0	$	269.5
Senior Unsecured Notes		200.0		221.4		200.0		220.4
Senior Secured Notes		400.0		422.3		400.0		414.0

___________

(1) The Company has estimated the fair value on an average of at least two non-binding broker quotes and the Company’s analysis. If the Company were to measure the borrowings in the above table at fair value on the balance sheet they would be classified as Level 2.

Recurring Measurements— The fair values of the Company’s assets and liabilities measured on a recurring basis pursuant to ASC 820-10 Fair Value Measurements and Disclosures are as follows (in millions):



			Fair Value Measurements at Reporting Date Using
	As of March 27, 2014		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
ASSETS:
Cash equivalents (1)	$	7.4	$	2.7	$	4.7	$	-
Short-term marketable securities (2)		51.4		4.6		46.8		-
Long-term marketable securities (2)		10.8		10.0		0.8		-
Total assets	$	69.6	$	17.3	$	52.3	$	-



			Fair Value Measurements at Reporting Date Using
	As of December 26, 2013		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
ASSETS:
Cash equivalents (1)	$	28.3	$	-	$	28.3	$	-
Short-term marketable securities (2)		71.3		4.5		66.8		-
Total assets	$	99.6	$	4.5	$	95.1	$	-

(1)

Cash Equivalents— The Company’s cash equivalents are carried at estimated fair value. Cash equivalents consist of money market accounts which the Company has classified as Level 1 given the active market for these accounts and commercial paper with original maturities of three months or less, which are classified as Level 2 and are valued as described below.

(2)

Short-Term and Long-Term Marketable Securities — The carrying amount and fair value of the marketable securities are equivalent since the Company accounts for these instruments at fair value. The Company’s government agency bonds and commercial paper are valued using third party broker quotes. The value of the Company’s government agency bonds is derived from quoted market information. The inputs in the valuation are generally classified as Level 1 given the active market for these securities; however if an active market does not exist, the inputs are recorded at a lower level in the fair value hierarchy. The value of commercial paper is derived from pricing models using inputs based upon market information, including contractual terms, market prices and yield curves. The inputs to the valuation pricing models are observable in the market, and as such are generally classified as Level 2 in the fair value hierarchy. For the three months ended March 27, 2014 and March 28, 2013, there was an inconsequential amount of net realized gains (losses) recognized in interest income and an inconsequential amount of net unrealized holding gains (losses) included in other comprehensive income. Original cost of short-term marketable securities is based on the specific identification method. As of March 27, 2014 and December 26, 2013, there were no gross unrealized losses related to individual securities that had been in a continuous loss position for 12 months or longer.

The amortized cost basis, aggregate fair value and maturities of the marketable securities the Company held as of March 27, 2014 and December 26, 2013 are as follows:



	As of March 27, 2014
	Amortized Cost Basis (in millions)		Aggregate Fair Value (in millions)		Maturities (1) (in years)
MARKETABLE SECURITIES:
Short-term municipal	$	2.6	$	2.6	0.5
Short-term U.S. government agency bonds		2.0		2.0	0.3
Short-term commercial paper:
Financial		34.8		34.8	0.2
Industrial		7.0		7.0	0.5
Utility		5.0		5.0	0.1
Total short-term marketable securities		51.4		51.4

Long-term U.S. government treasury bonds		5.1		5.1	3.5
Long-term municipal		0.4		0.4	1.5
Long-term U.S. government agency bonds		4.5		4.5	4.1
Long-term certificates of deposit		0.8		0.8	4.3
Total long-term marketable securities		10.8		10.8
Total marketable securities	$	62.2	$	62.2


.
	As of December 26, 2013
	Amortized Cost Basis (in millions)		Aggregate Fair Value (in millions)		Maturities (1) (in years)
MARKETABLE SECURITIES:
Short-term municipal	$	4.5	$	4.5	0.2
Short-term commercial paper:
Financial		50.3		50.3	0.3
Industrial		8.8		8.8	0.1
Utility		7.7		7.7	0.1
Total marketable securities	$	71.3	$	71.3

____________

(1)

Maturities— Securities available for sale include obligations with various contractual maturity dates some of which are greater than one year. The Company considers the securities to be liquid and convertible to cash within 30 days.

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

Derivative Instruments And Hedging Activities [Abstract]

Derivative Instruments And Hedging Activities

3 Months Ended

Mar. 27, 2014

Derivative Instruments And Hedging Activities

8. derivative instruments and hedging activities

During 2012, NCM LLC terminated interest rate swap agreements that were used to hedge its interest rate risk associated with its term loan. Following the termination of the swap agreements, the variable interest rate on NCM LLC’s $270.0 million term loan is unhedged and as of March 27, 2014 and December 26, 2013, the Company did not have any outstanding derivative assets or liabilities. A portion of the breakage fees paid to terminate the swap agreements was for swaps in which the underlying debt remained outstanding. The balance in AOCI related to these swaps was fixed and is being amortized into earnings over the remaining life of the original interest rate swap agreement, or February 13, 2015, as long as the debt remains outstanding. The Company considered the guidance in ASC 815, Derivatives and Hedging which states that amounts in AOCI shall be reclassified into earnings in the same period or periods during which the hedged forecasted transaction affects earnings. As of March 27, 2014, there was approximately $9.1 million outstanding related to these discontinued cash flow hedges which continues to be reported in AOCI and will be amortized into earnings in the next twelve months.

The changes in AOCI by component for the three months ended March 27, 2014 and March 28, 2013 were as follows (in millions):



		Three Months Ended
		March 27, 2014		March 28, 2013	Income Statement Location
Balance at beginning of period	$	(3.2)	$	(6.7)
Amounts reclassified from AOCI:
Amortization on discontinued cash flow hedges		2.5		2.5	Amortization of terminated derivatives
Total amounts reclassified from AOCI		2.5		2.5
Noncontrolling interest on reclassifications		(1.4)		(1.4)
Tax effect on reclassifications		(0.4)		(0.4)
Net other comprehensive income		0.7		0.7
Impact of subsidiary ownership changes		-		-
Balance at end of period	$	(2.5)	$	(6.0)

The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts.

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Segment Reporting

3 Months Ended

Mar. 27, 2014

Segment Reporting [Abstract]

Segment Reporting

9. segment reporting

Advertising revenue accounted for 100.0% and 89.7% of consolidated revenue for the three months ended March 27, 2014 and March 28, 2013, respectively. The following tables present revenue less directly identifiable expenses to arrive at income before income taxes, net of direct expenses for the advertising reportable segment, the combined Fathom Events operating segments (disposed on December 26, 2013), and network, administrative and unallocated costs.



	Three Months Ended March 27, 2014 (in millions)
	Advertising		Fathom Events (1)		Network, Administrative and Unallocated Costs		Consolidated
Revenue	$	70.2	$	-	$	-	$	70.2
Operating costs		22.4		-		4.6		27.0
Selling and marketing costs		14.3		-		0.7		15.0
Administrative and other costs		0.8		-		6.8		7.6
Depreciation and amortization		-		-		7.8		7.8
Interest and other non-operating costs		-		-		19.1		19.1
Income (loss) before income taxes	$	32.7	$	-	$	(39.0)	$	(6.3)



	Three Months Ended March 28, 2013 (in millions)
	Advertising			Fathom Events (1)		Network, Administrative and Unallocated Costs		Consolidated
Revenue	$	73.7	$		8.5	$	-	$	82.2
Operating costs		21.3			5.8		5.0		32.1
Selling and marketing costs		13.7			1.1		0.6		15.4
Administrative and other costs		0.3			0.2		7.2		7.7
Depreciation and amortization		-			-		5.4		5.4
Interest and other non-operating costs		-			-		19.1		19.1
Income (loss) before income taxes	$	38.4		$	1.4	$	(37.3)	$	2.5

The following is a summary of revenues by category (in millions):



	Three Months Ended
	March 27, 2014		March 28, 2013
National advertising revenue	$	42.7	$	51.5
Local advertising revenue		18.1		13.3
Founding member advertising revenue from beverage concessionaire agreements		9.4		8.9
Fathom Consumer revenue (1)		-		8.3
Fathom Business revenue (1)		-		0.2
Total revenue	$	70.2	$	82.2

____________

(1)

Fathom Events was sold on December 26, 2013 as discussed in Note 4—Related Party Transactions.

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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Subsequent Events	3 Months Ended
Subsequent Events	Mar. 27, 2014
Subsequent Events [Abstract]
Subsequent Events	10. SUBSEQUENT EVENTS On April 30, 2014, the Company declared a cash dividend of $0.22 per share (approximately $12.9 million) on each share of the Company’s common stock (not including outstanding restricted stock which will accrue dividends until the shares vest) to stockholders of record on May 19, 2014 to be paid on June 2, 2014. On May 5, 2014, NCM, Inc. agreed to acquire Screenvision from SV Holdco, LLC through an Agreement and Plan of Merger (the “Merger Agreement”), by and among NCM, Inc., and two newly formed NCM, Inc. subsidiaries (collectively “NCM Subsidiaries”) and various Screenvision Holdco LLC subsidiaries (collectively “SV Subsidiaries”). Pursuant to the Merger Agreement, SV Subsidiaries will be acquired by NCM, Inc. as a result of the merger of SV Subsidiaries with NCM Subsidiaries (the “Merger”). As consideration for the Merger, SV Holdco will receive from NCM, Inc. $375 million, consisting of $225 million in cash and $150 million of NCM, Inc. common stock (9,900,990 shares at a fixed price of $15.15 per share). The merger consideration is subject to reduction by an amount equal to 11.8 times the amount, if any, by which SV Subsidiary’s consolidated audited Adjusted EBITDA (calculated consistent with its past practice) for the twelve months ended April 30, 2014 is less than $31.3 million. The merger consideration is also subject to an upward adjustment by the amount of Screenvision’s positive working capital at closing, up to a maximum adjustment of $10.0 million. Consummation of the Merger is subject to clearance under the Hart-Scott-Rodino Antitrust Improvements Act (“HSR Approval”) and other customary closing conditions, including satisfaction of representations, warranties and covenants. All necessary corporate action by NCM, Inc., SV Holdco and Screenvision to approve the Merger has occurred. NCM, Inc. intends to obtain financing in the form of a bank loan (“NCM Loan”) to finance the transaction. Following the merger, NCM, Inc. will evaluate whether to contribute the Screenvision assets to NCM LLC. Although it is under no obligation to do so, NCM, Inc. expects that it will contribute the Screenvision assets and debt incurred to finance the acquisition to NCM LLC in exchange for 9,900,990 NCM LLC membership units and that the combined operation will result in an estimated $30 million of annual operating cost synergies. It is anticipated that NCM LLC will refinance the NCM Loan with additional NCM LLC debt that could include additional senior secured bank debt or senior secured or unsecured notes. NCM, Inc. and NCM LLC expect that such a contribution would also include an agreement to indemnify each other with respect to potential tax and other liabilities in connection with the contribution. NCM LLC’s founding members and NCM, Inc. have agreed to amend the tax receivable agreement following the Merger. This amendment will provide that any favorable tax attributes effectively acquired by NCM, Inc. from Screenvision as a result of the Merger (including the amount of any net operating losses) will not reduce the amount of any payments that would have otherwise been made by NCM, Inc. to NCM LLC’s founding members under the tax receivable agreement if the Merger had not occurred. The Merger Agreement requires termination payments upon termination of the Merger Agreement under specified circumstances. NCM, Inc. is required to pay SV Holdco a termination fee of $28.84 million if HSR Approval has not been obtained or NCM, Inc. has materially breached its representations or covenants such that the closing conditions in the Merger Agreement cannot be satisfied. If SV Holdco has materially breached its representations or covenants such that the closing conditions in the Merger Agreement cannot be satisfied, SV Holdco is required to pay NCM, Inc. a termination fee of $10 million and, if Screenvision is subsequently sold within one year of the termination, an additional amount equal to the amount by which the sale proceeds are greater than $385 million.

The Company (Policy)	3 Months Ended
The Company (Policy)	Mar. 27, 2014
The Company
Basis Of Presentation	Basis of Presentation The Company has prepared the unaudited condensed consolidated financial statements and related notes of NCM, Inc. in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and the rules and regulations of the Securities and Exchange Commission (“SEC”). Accordingly, certain information and footnote disclosures typically included in an annual report have been condensed or omitted for this quarterly report. The balance sheet as of December 26, 2013 is derived from the audited financial statements of NCM, Inc. Therefore, the unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s annual report on Form 10-K filed for the fiscal year ended December 26, 2013. In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly in all material respects the financial position, results of operations and cash flows for all periods presented have been made. The Company’s business is seasonal and for this and other reasons operating results for interim periods may not be indicative of the Company’s full year results or future performance. As a result of the various related party agreements discussed in Note 4—Related Party Transactions, the operating results as presented are not necessarily indicative of the results that might have occurred if all agreements were with non-related third parties.
Estimates	Estimates— The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates include those related to the reserve for uncollectible accounts receivable, share-based compensation, and income taxes. Actual results could differ from those estimates.
Segment Reporting	Segment Reporting— Advertising is the principal business activity of the Company and is the Company’s reportable segment under the requirements of ASC 280, Segment Reporting (“ASC 280”). Until its sale, Fathom Events was an operating segment under ASC 280, but did not meet the annual quantitative thresholds for segment reporting. The Company does not evaluate its segments on a fully allocated cost basis, nor does the Company track segment assets separately. Therefore, the measure of segment operating income net of direct expenses presented herein is not prepared on the same basis as operating income in the unaudited condensed consolidated statements of income and the results are not indicative of what segment results of operations would have been had it been operated on a fully allocated cost basis. The Company cautions that it would be inappropriate to assume that unallocated operating costs are incurred proportional to segment revenue or any directly identifiable segment expenses. Refer to Note 9—Segment Reporting.
Concentration Of Credit Risk And Significant Customers	Concentration of Credit Risk and Significant Customers— Bad debts are provided for using the allowance for doubtful accounts method based on historical experience and management’s evaluation of outstanding receivables at the end of the period. Receivables are written off when management determines amounts are uncollectible. Trade accounts receivable are uncollateralized and represent a large number of geographically dispersed debtors. The collectability risk is reduced by dealing with large, national advertising agencies who have strong reputations in the advertising industry and clients with stable financial positions. As of March 27, 2014 and December 26, 2013, there were no advertising agency groups or individual customers through which the Company sources national advertising revenue representing more than 10% of the Company’s outstanding gross receivable balance. During the three months ended March 27, 2014, revenue related to NCM LLC’s founding members’ beverage supplier accounted for 13.3% of total revenue. During the three months ended March 28, 2013, there were no customers that accounted for more than 10% of revenue.
Share-Based Compensation	Share-Based Compensation—The Company has issued stock options, restricted stock and restricted stock units. In 2014 and 2013, the Company did not grant stock options. Restricted stock and restricted stock units granted prior to 2013 vest upon the achievement of Company performance measures and service conditions. In 2013, the Company granted restricted stock and restricted stock units that vest upon the achievement of Company performance measures and service conditions, or only service conditions. In 2014, restricted stock grants for Company officers vest upon the achievement of Company performance measures and service conditions, or only service conditions, while non-officers grants vest only upon the achievement of service conditions. Compensation expense of restricted stock that vests upon the achievement of Company performance measures is based on management’s financial projections and the probability of achieving the projections, which require considerable judgment. A cumulative adjustment is recorded to share-based compensation expense in periods that management changes its estimate of the number of shares expected to vest. Ultimately, the Company adjusts the expense recognized to reflect the actual vested shares following the resolution of the performance conditions. Dividends are accrued when declared on all unvested restricted stock and are only paid with respect to shares that actually vest. During the three months ended March 27, 2014 and March 28, 2013, respectively, 247,988 and 359,528 shares of restricted stock and restricted stock units vested. During the three months ended March 27, 2014 and March 28, 2013, respectively, 21,298 and 130,615 stock options were exercised at a weighted average exercise price of $15.35 and 10.56 per share, respectively. In connection with the Company’s March 2014 special cash dividend of $0.50 per share and pursuant to the antidilution adjustment terms of the Company’s Equity Incentive Plan, the exercise price and the number of shares of common stock subject to options held by the Company’s employees were adjusted to prevent dilution and restore their economic value that existed immediately before the special dividend. The antidilution adjustments made with respect to such options resulted in a decrease in the range of exercise prices from $5.35 - $24.68 per share to $5.18 - $23.90 per share and an increase in the aggregate number of shares issuable upon exercise of such options by 98,589 shares, or 3.3%, of previously outstanding options. The number of shares authorized under the Equity Incentive Plan increased by an equivalent number of shares. There were no accounting consequences for the changes made to reduce the exercise prices and increase the number of underlying options as a result of the special cash dividend because the aggregate fair values of the awards immediately before and after the modifications were the same.
Consolidation	Consolidation— NCM, Inc. consolidates the accounts of NCM LLC under the provision of ASC 810, Consolidation (“ASC 810”). Under ASC 810, a managing member of a limited liability company (“LLC”) is presumed to control the LLC, unless the non-managing members have the right to dissolve the entity or remove the managing member without cause, or if the non-managing members have substantive participating rights. The non-managing members of NCM LLC do not have dissolution rights or removal rights. NCM, Inc. has evaluated the provisions of the NCM LLC membership agreement and has concluded that the various rights of the non-managing members are not substantive participation rights under ASC 810, as they do not limit NCM, Inc.’s ability to make decisions in the ordinary course of business.
Income Taxes	Income Taxes—Income taxes are accounted for under the asset and liability method, which requires recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements. Under this method, deferred tax assets and liabilities are determined based on the differences between the financial statements and tax basis of assets and liabilities using enacted tax rates in effect for the year in which differences are expected to be recovered or settled pursuant to the provisions of ASC 740, Income Taxes. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date. The Company records a valuation allowance if it is deemed more likely than not that all or a portion of its deferred income tax assets will not be realized, which will be assessed on an on-going basis. In addition, income tax rules and regulations are subject to interpretation and the application of those rules and regulations require judgment by the Company and may be challenged by the taxation authorities. The Company follows ASC 740-10-25, which requires the use of a two-step approach for recognizing and measuring tax benefits taken or expected to be taken in a tax return and disclosures regarding uncertainties in income tax positions. Only tax positions that meet the more likely than not recognition threshold are recognized.
Recent Accounting Pronouncements	Recent Accounting Pronouncements The Company has considered all recently issued accounting pronouncements and does not believe the adoption of such pronouncements will have a material impact on its unaudited condensed consolidated financial statements.

Disclosure of accounting policy regarding (1) the principles it follows in consolidating or combining the separate financial statements, including the principles followed in determining the inclusion or exclusion of subsidiaries or other entities in the consolidated or combined financial statements and (2) its treatment of interests (for example, common stock, a partnership interest or other means of exerting influence) in other entities, for example consolidation or use of the equity or cost methods of accounting. The accounting policy may also address the accounting treatment for intercompany accounts and transactions, noncontrolling interest, and the income statement treatment in consolidation for issuances of stock by a subsidiary.

Disclosure of accounting policy for income taxes, which may include its accounting policies for recognizing and measuring deferred tax assets and liabilities and related valuation allowances, recognizing investment tax credits, operating loss carryforwards, tax credit carryforwards, and other carryforwards, methodologies for determining its effective income tax rate and the characterization of interest and penalties in the financial statements.

Schedule Of Loss Per Share, Basic And Diluted

The Company (Tables)

3 Months Ended

Mar. 27, 2014

The Company

Changes In Equity



	Three Months Ended
	March 27, 2014		March 28, 2013
Net loss attributable to NCM, Inc.	$	(3.1)	$	(1.0)
NCM LLC equity issued for purchase of intangible asset		7.5		32.4
Income tax and other impacts of subsidiary ownership changes		(2.2)		(10.1)
Change from net loss attributable to NCM, Inc. and transfers from noncontrolling interests	$	2.2	$	21.3

Loss Per Share (Tables)

3 Months Ended

Mar. 27, 2014

Loss Per Share [Abstract]


	Three Months Ended
	March 27, 2014		March 28, 2013
Net loss attributable to NCM, Inc. (in millions)	$	(3.1)	$	(1.0)
Weighted average shares outstanding:
Basic		58,618,800		54,611,614
Add: Dilutive effect of stock options and restricted stock		-		-
Diluted		58,618,800		54,611,614
Loss per NCM, Inc. share:
Basic	$	(0.05)	$	(0.02)
Diluted	$	(0.05)	$	(0.02)

Related-Party Transactions (Tables)

3 Months Ended

Mar. 27, 2014

Schedule Of Mandatory Distributions To Members



	Three Months Ended
	March 27, 2014		March 28, 2013
AMC	$	1.7	$	2.5
Cinemark		2.2		2.4
Regal		2.3		3.1
NCM, Inc.		5.3		7.1
Total	$	11.5	$	15.1

Schedule Of Amounts Due To Founding Members

Amounts due to founding members as of March 27, 2014 were comprised of the following (in millions):



	AMC		Cinemark		Regal		Total
Theatre access fees, net of beverage revenues	$	0.7	$	0.8	$	1.2	$	2.7
Cost and other reimbursement		(0.1)		(0.2)		-		(0.3)
Distributions payable		1.7		2.2		2.3		6.2
Total	$	2.3	$	2.8	$	3.5	$	8.6

Amounts due to founding members as of December 26, 2013 were comprised of the following (in millions):



	AMC		Cinemark		Regal		Total
Theatre access fees, net of beverage revenues	$	0.6	$	0.7	$	1.1	$	2.4
Cost and other reimbursement		(2.0)		(0.7)		(0.6)		(3.3)
Distributions payable, net		8.7		10.9		11.4		31.0
Total	$	7.3	$	10.9	$	11.9	$	30.1

Founding Members [Member]

Schedule Of Related Party Transactions



	Three Months Ended
Included in the Condensed Consolidated Statements of Income:	March 27, 2014		March 28, 2013
Revenue:
Beverage concessionaire revenue (included in advertising revenue) (1)	$	9.4	$	8.9
Advertising inventory revenue (included in advertising revenue) (2)		0.1		-
Operating expenses:
Theatre access fee (3)		17.4		15.6
Revenue share from Fathom Events (included in Fathom Events operating costs) (4)		-		0.9
Purchase of movie tickets and concession products (included in selling and marketing costs) (5)		0.2		0.2
Non-operating expenses:
Interest income from notes receivable (included in interest income) (6)		0.3		-

(1)

(2)

The value of such purchases is calculated by reference to NCM LLC’s advertising rate card.

(3)

(4)

Prior to the sale of Fathom Events on December 26, 2013, these payments were at rates (percentage of event revenue) included in the previous ESAs based on the nature of the event.

(5)

Used primarily for marketing to NCM LLC’s advertising clients.

(6)


	As of
Included in the Condensed Consolidated Balance Sheets:	March 27, 2014		December 26, 2013
Purchase of movie tickets and concession products (included in Prepaid expenses) (1)	$	0.2	$	-
Current portion of notes receivable - founding members (2)		4.2		4.2
Long-term portion of notes receivable - founding members (2)		20.8		20.8
Interest receivable on notes receivable (2)		0.3		-
Common unit adjustments and integration payments, net of amortization (included in intangible assets) (3)		474.7		463.4
Current payable to founding members under tax receivable agreement (4)		9.8		28.6
Long-term payable to founding members under tax receivable agreement (4)		148.5		144.0

(1)

Used primarily for marketing to NCM LLC’s advertising clients.

(2)

Refer to the discussion of notes receivable from the founding members above.

(3)

Refer to Note 3—Intangible Assets for further information on integration payments.

(4)

Related Party Affiliates [Member]

Schedule Of Related Party Transactions

Following is a summary of advertising operating costs in the unaudited Condensed Consolidated Statements of Income between the Company and its related party affiliates (in millions):



	Three Months Ended
Related Party Affiliate	March 27, 2014		March 28, 2013
Starplex (1)	$	0.5	$	0.5
Other		-		0.1
Total	$	0.5	$	0.6

Following is a summary of the accounts payable balance between the Company and its related party affiliates included in the unaudited Condensed Consolidated Balance Sheets (in millions):



	As of March 27, 2014
Related Party Affiliate	March 27, 2014		December 26, 2013
Starplex (1)	$	0.7	$	0.7
Other		-		0.1
Total	$	0.7	$	0.8

(1)

Starplex Operating L.P. (“Starplex”) is an affiliate of one of NCM, Inc.’s directors.

NCM, LLC. [Member] | AC JV, LLC [Member]

Schedule Of Related Party Transactions



	Three Months Ended
Included in the Condensed Consolidated Statements of Income:	March 27, 2014		March 28, 2013
Transition services (included in network costs) (1)	$	0.1	$	-

(1)



	As of
Included in the Condensed Consolidated Balance Sheets:	March 27, 2014		December 26, 2013
Amounts due from AC JV, LLC (included in other current assets) (1)	$	0.6	$	-
Investment in AC JV, LLC (included in other investments) (2)		1.1		1.1

(1)

(2)

Borrowings (Tables)

3 Months Ended

Mar. 27, 2014

Borrowings [Abstract]

Schedule Of Outstanding Debt



	Outstanding Balance as of
Borrowings ($ in millions)	March 27, 2014		December 26, 2013		Maturity Date	Interest Rate
Revolving Credit Facility	$	37.0	$	20.0	November 26, 2017 (1)	(2)
Term Loans		270.0		270.0	November 26, 2019	(2)
Senior Unsecured Notes		200.0		200.0	July 15, 2021	7.875%
Senior Secured Notes		400.0		400.0	April 15, 2022	6.000%
Total	$	907.0	$	890.0
Less: current portion of long-term debt		(14.0)		(14.0)
Long-term debt, less current portion	$	893.0	$	876.0

(1)A portion of the revolving credit facility has a maturity date of December 31, 2014, as described in further detail below.

(2)The interest rates on the revolving credit facility and term loan are described below.

Fair Value Measurement (Tables)

3 Months Ended

Mar. 27, 2014

Fair Value Measurement [Abstract]

Estimated Fair Values Of Company's Financial Instruments



	As of March 27, 2014				As of December 26, 2013
($ in millions)	Carrying Value		Fair Value (1)		Carrying Value		Fair Value (1)
Term Loans	$	270.0	$	269.1	$	270.0	$	269.5
Senior Unsecured Notes		200.0		221.4		200.0		220.4
Senior Secured Notes		400.0		422.3		400.0		414.0

___________

Fair Values Of The Company's Assets And Liabilities



			Fair Value Measurements at Reporting Date Using
	As of March 27, 2014		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
ASSETS:
Cash equivalents (1)	$	7.4	$	2.7	$	4.7	$	-
Short-term marketable securities (2)		51.4		4.6		46.8		-
Long-term marketable securities (2)		10.8		10.0		0.8		-
Total assets	$	69.6	$	17.3	$	52.3	$	-



			Fair Value Measurements at Reporting Date Using
	As of December 26, 2013		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
ASSETS:
Cash equivalents (1)	$	28.3	$	-	$	28.3	$	-
Short-term marketable securities (2)		71.3		4.5		66.8		-
Total assets	$	99.6	$	4.5	$	95.1	$	-

(1)

(2)

Schedule Of Marketable Securities



	As of March 27, 2014
	Amortized Cost Basis (in millions)		Aggregate Fair Value (in millions)		Maturities (1) (in years)
MARKETABLE SECURITIES:
Short-term municipal	$	2.6	$	2.6	0.5
Short-term U.S. government agency bonds		2.0		2.0	0.3
Short-term commercial paper:
Financial		34.8		34.8	0.2
Industrial		7.0		7.0	0.5
Utility		5.0		5.0	0.1
Total short-term marketable securities		51.4		51.4

Long-term U.S. government treasury bonds		5.1		5.1	3.5
Long-term municipal		0.4		0.4	1.5
Long-term U.S. government agency bonds		4.5		4.5	4.1
Long-term certificates of deposit		0.8		0.8	4.3
Total long-term marketable securities		10.8		10.8
Total marketable securities	$	62.2	$	62.2


.
	As of December 26, 2013
	Amortized Cost Basis (in millions)		Aggregate Fair Value (in millions)		Maturities (1) (in years)
MARKETABLE SECURITIES:
Short-term municipal	$	4.5	$	4.5	0.2
Short-term commercial paper:
Financial		50.3		50.3	0.3
Industrial		8.8		8.8	0.1
Utility		7.7		7.7	0.1
Total marketable securities	$	71.3	$	71.3

____________

(1)

Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities.

Derivative Instruments And Hedging Activities [Abstract]

Derivative Instruments And Hedging Activities (Tables)

3 Months Ended

Mar. 27, 2014

Schedule Of Changed In AOCI By Component



		Three Months Ended
		March 27, 2014		March 28, 2013	Income Statement Location
Balance at beginning of period	$	(3.2)	$	(6.7)
Amounts reclassified from AOCI:
Amortization on discontinued cash flow hedges		2.5		2.5	Amortization of terminated derivatives
Total amounts reclassified from AOCI		2.5		2.5
Noncontrolling interest on reclassifications		(1.4)		(1.4)
Tax effect on reclassifications		(0.4)		(0.4)
Net other comprehensive income		0.7		0.7
Impact of subsidiary ownership changes		-		-
Balance at end of period	$	(2.5)	$	(6.0)

Segment Reporting (Tables)

3 Months Ended

Mar. 27, 2014

Segment Reporting [Abstract]

Schedule Of Segment Operating Income



	Three Months Ended March 27, 2014 (in millions)
	Advertising		Fathom Events (1)		Network, Administrative and Unallocated Costs		Consolidated
Revenue	$	70.2	$	-	$	-	$	70.2
Operating costs		22.4		-		4.6		27.0
Selling and marketing costs		14.3		-		0.7		15.0
Administrative and other costs		0.8		-		6.8		7.6
Depreciation and amortization		-		-		7.8		7.8
Interest and other non-operating costs		-		-		19.1		19.1
Income (loss) before income taxes	$	32.7	$	-	$	(39.0)	$	(6.3)



	Three Months Ended March 28, 2013 (in millions)
	Advertising			Fathom Events (1)		Network, Administrative and Unallocated Costs		Consolidated
Revenue	$	73.7	$		8.5	$	-	$	82.2
Operating costs		21.3			5.8		5.0		32.1
Selling and marketing costs		13.7			1.1		0.6		15.4
Administrative and other costs		0.3			0.2		7.2		7.7
Depreciation and amortization		-			-		5.4		5.4
Interest and other non-operating costs		-			-		19.1		19.1
Income (loss) before income taxes	$	38.4		$	1.4	$	(37.3)	$	2.5

Summary Of Revenue By Category


	Three Months Ended
	March 27, 2014		March 28, 2013
National advertising revenue	$	42.7	$	51.5
Local advertising revenue		18.1		13.3
Founding member advertising revenue from beverage concessionaire agreements		9.4		8.9
Fathom Consumer revenue (1)		-		8.3
Fathom Business revenue (1)		-		0.2
Total revenue	$	70.2	$	82.2

____________

(1)

Fathom Events was sold on December 26, 2013 as discussed in Note 4—Related Party Transactions.

The Company (Narrative) (Details)	3 Months Ended
The Company (Narrative) (Details)	Mar. 27, 2014 customer item $ / shares shares	Mar. 28, 2013 customer $ / shares shares	Mar. 31, 2014 $ / shares	Dec. 26, 2013
General Company Information [Line Items]
Membership units exchangeable into common stock ratio	1
Stock options granted in period	0	0
Stock options exercised in period	21,298	130,615
Weighted average exercise price \| $ / shares	$ 15.35	$ 10.56
Special Dividend [Member]
General Company Information [Line Items]
Cash dividends declared, per share \| $ / shares			$ 0.50
Restricted Stock And Restricted Stock Units [Member]
General Company Information [Line Items]
Number of shares of restricted stock and stock units vested	247,988	359,528
NCM, LLC. [Member]
General Company Information [Line Items]
Common membership units outstanding	128,259,925
NCM Inc. [Member]
General Company Information [Line Items]
Common membership units outstanding	58,716,346
Percentage of common membership units outstanding	45.80%
Regal [Member]
General Company Information [Line Items]
Common membership units outstanding	25,792,942
Percentage of common membership units outstanding	20.10%
Cinemark [Member]
General Company Information [Line Items]
Common membership units outstanding	24,556,136
Percentage of common membership units outstanding	19.10%
AMC [Member]
General Company Information [Line Items]
Common membership units outstanding	19,194,501
Percentage of common membership units outstanding	15.00%
Accounts Receivable [Member]
General Company Information [Line Items]
Number of advertising agency groups contributing to more than 10% of outstanding gross receivable balance \| item	0
Customer Concentration Risk [Member] \| Sales Revenue, Net [Member]
General Company Information [Line Items]
Number of customers contributing to more than 10% of revenue \| customer	0	0
Founding Member Advertising Revenue From Beverage Concessionaire Agreements [Member] \| Sales Revenue, Net [Member] \| NCM, LLC. [Member]
General Company Information [Line Items]
Percentage of revenue	13.30%
AC JV, LLC [Member] \| NCM, LLC. [Member]
General Company Information [Line Items]
Ownership percentage				4.00%
AC JV, LLC [Member] \| Regal [Member]
General Company Information [Line Items]
Ownership percentage				32.00%
AC JV, LLC [Member] \| Cinemark [Member]
General Company Information [Line Items]
Ownership percentage				32.00%
AC JV, LLC [Member] \| AMC [Member]
General Company Information [Line Items]
Ownership percentage				32.00%
Antidilution Adjustment [Member]
General Company Information [Line Items]
Increase in aggregate number of shares issuable upon exercise	98,589
Percentage of previously outstanding options	3.30%
Minimum [Member]
General Company Information [Line Items]
Weighted average exercise price \| $ / shares	$ 5.35
Minimum [Member] \| Antidilution Adjustment [Member]
General Company Information [Line Items]
Weighted average exercise price \| $ / shares	5.18
Maximum [Member]
General Company Information [Line Items]
Weighted average exercise price \| $ / shares	24.68
Maximum [Member] \| Antidilution Adjustment [Member]
General Company Information [Line Items]
Weighted average exercise price \| $ / shares	$ 23.90

The Company (Changes In Equity) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 27, 2014	Mar. 28, 2013
General Company Information [Line Items]
Net loss attributable to NCM, Inc.	$ (3.1)	$ (1.0)
NCM LLC equity returned for purchase of intangible asset	16.4	69.0
Income tax and other impacts of subsidiary ownership changes	(0.7)	(6.8)
Change from net loss attributable to NCM, Inc. and transfers from noncontrolling interests	2.2	21.3
Additional Paid In Capital (Deficit) [Member]
General Company Information [Line Items]
NCM LLC equity returned for purchase of intangible asset	7.5	32.4
Income tax and other impacts of subsidiary ownership changes	$ (2.2)	$ (10.1)

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Net Income
-URI http://asc.fasb.org/extlink&oid=6518256

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 28
-URI http://asc.fasb.org/extlink&oid=31042434&loc=d3e3602-108585

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 225
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04.19)
-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 225
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03.18)
-URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 225
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04.22)
-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Other Comprehensive Income
-URI http://asc.fasb.org/extlink&oid=6519514

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=28358780&loc=d3e565-108580

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 03
-Paragraph 19
-Article 5

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
-Paragraph 20
-Article 9

Loss Per Share (Narrative) (Details) - shares	3 Months Ended
Loss Per Share (Narrative) (Details) - shares	Mar. 27, 2014	Mar. 28, 2013
Stock Options And Non-Vested Restricted Stock [Member] \| Exercise Prices Above Market Value [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares excluded from the calculation of diluted weighted average shares	5,196,784	6,558,355
Common Units [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares excluded from the calculation of diluted weighted average shares	68,575,219	58,229,424

Loss Per Share (Schedule Of Loss Per Share, Basic And Diluted) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 27, 2014	Mar. 28, 2013
Loss Per Share [Abstract]
Net loss attributable to NCM, Inc.	$ (3.1)	$ (1.0)
Basic	58,618,800	54,611,614
Add: Dilutive effect of stock options and restricted stock
Diluted	58,618,800	54,611,614
Basic	$ (0.05)	$ (0.02)
Diluted	$ (0.05)	$ (0.02)

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

Fathom Events operating costs (including amounts to founding members)

Intangible Assets (Details) - USD ($) $ in Millions	3 Months Ended
Intangible Assets (Details) - USD ($) $ in Millions	Mar. 27, 2014	Mar. 28, 2013
NCM, LLC. [Member]
Finite-Lived Intangible Assets [Line Items]
Common membership units issued	1,087,911	4,536,014
Increase/decrease in intangible assets, net	$ 16.4	$ 69.0
NCM, LLC. [Member] \| Founding Member Payment Election [Member]
Finite-Lived Intangible Assets [Line Items]
Increase/decrease in intangible assets, net	(0.7)	$ 0.0
NCM, LLC. [Member] \| AMC And Cinemark Integration Payments [Member]
Finite-Lived Intangible Assets [Line Items]
Increase/decrease in intangible assets, net	$ (0.2)
Minimum [Member]
Finite-Lived Intangible Assets [Line Items]
Percentage increase (decrease) in theatre attendance for Common Unit adjustment to occur	(2.00%)
Maximum [Member]
Finite-Lived Intangible Assets [Line Items]
Percentage increase (decrease) in theatre attendance for Common Unit adjustment to occur	2.00%

Related-Party Transactions (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 27, 2014	Mar. 28, 2013
Founding Members [Member]
Related Party Transaction [Line Items]
Cash payment due to founding members/managing member	$ 6.2
NCM, LLC. [Member] \| Interactive Media Company [Member]
Related Party Transaction [Line Items]
Related party revenue	0.1	$ 0.1
Accounts receivable	$ 0.6	$ 0.6

Related-Party Transactions (Summary Of Transactions Between The Company And The Founding Members Included in Statements Of Income) (Details) - USD ($)
$ in Millions

3 Months Ended

12 Months Ended

Mar. 27, 2014

Mar. 28, 2013

Dec. 26, 2013

Advertising revenue

$ 70.2

$ 73.7

Theatre access fee

^[1]

17.4

15.6

5.8

Selling and marketing costs

15.0

15.4

Interest income from notes receivable (included in interest income)

$ 0.3

^[2]

$ 0.0

On-screen advertising time purchased, in seconds

60 seconds

On-screen advertising time to satisfy agreement obligations, in seconds

30 seconds

On-screen advertising time which founding members have right to purchase, in seconds

$ 25.0

Maximum [Member]

90 seconds

NCM, LLC. [Member] | Founding Members [Member]

Interest rate on notes receivable

$ 25.0

5.00%

NCM, LLC. [Member] | AMC [Member]

NCM, LLC. [Member] | Regal [Member]

$ 8.3

NCM, LLC. [Member] | Cinemark [Member]

8.3

Beverage Concessionaire [Member]

$ 8.3

Advertising revenue

^[3]

$ 9.4

$ 8.9

Advertising Inventory [Member]

Advertising revenue

^[4]

0.1

Use Of Screens/Theatres For Fathom Events [Member]

Fathom Events operating costs (including amounts to founding members)

^[5]

0.9

Purchase Of Movie Tickets And Concession Products [Member]

Selling and marketing costs

^[6]

$ 0.2

AC JV, LLC [Member] | Regal [Member]

AC JV, LLC [Member] | Cinemark [Member]

32.00%

AC JV, LLC [Member] | AMC [Member]

32.00%

AC JV, LLC [Member] | NCM, LLC. [Member]

32.00%

4.00%

[1]	Comprised of payments per theatre attendee, payments per digital screen with respect to the founding member theatres included in the Company’s network and payments for access to higher quality digital cinema equipment
[2]	On December 26, 2013, NCM LLC sold its Fathom Events business to a newly formed limited liability company (AC JV, LLC) owned 32% by each of the founding members and 4% by NCM LLC. In consideration for the sale, NCM LLC received a total of $25.0 million in promissory notes from its founding members (one-third or approximately $8.3 million from each founding member). The notes bear interest at a fixed rate of 5.0% per annum, compounded annually. Interest and principal payments are due annually in six equal installments commencing on the first anniversary of the closing.
[3]	For the three months ended March 27, 2014 and March 28, 2013, the founding members purchased 60 seconds of on-screen advertising time (with a right to purchase up to 90 seconds) from NCM LLC to satisfy their obligations under their beverage concessionaire agreements at a rate specified by the ESA at a 30 second equivalent cost per thousand (“CPM”).
[4]	The value of such purchases is calculated by reference to NCM LLC’s advertising rate card
[5]	Prior to the sale of Fathom Events on December 26, 2013, these payments were at rates (percentage of event revenue) included in the previous ESAs based on the nature of the event
[6]	Used primarily for marketing to NCM LLC’s advertising clients.

Related-Party Transactions (Summary Of Transactions Between The Company And The Founding Members Included In Balance Sheets) (Details) - USD ($)
$ in Millions

3 Months Ended

Mar. 27, 2014

Dec. 26, 2013

Current portion of notes receivable - founding members

$ 4.9

$ 3.1

^[1]

4.2

Long-term notes receivable, net of current portion - founding members

^[1]

20.8

Interest receivable on notes receivable

^[1]

0.3

Common unit adjustments and integration payments, net of amortization (included in Intangible assets)

503.7

492.0

Current payable to founding members under tax sharing agreement

^[2]

9.8

28.6

Long-term payable to founding members under tax sharing agreement

^[2]

148.5

144.0

Founding Members [Member]

Payments to affiliates for tax sharing agreement

25.1

Purchase Of Movie Tickets And Concession Products [Member]

Common Unit Adjustments And Integration Payments [Member]

0.2

^[3]

0.0

Common unit adjustments and integration payments, net of amortization (included in Intangible assets)

^[4]

474.7

$ 463.4

2009, 2010 and 2011 Tax Year [Member] | Founding Members [Member]

Payments to affiliates for tax sharing agreement

6.7

2013 Tax Year [Member] | Founding Members [Member]

Payments to affiliates for tax sharing agreement

$ 18.4

[1]	Refer to the discussion of notes receivable from the founding members above.
[2]	The Company paid the founding members $25.1 million in the first quarter of 2014, of which $6.7 million was net operating loss carrybacks for the 2009, 2010 and 2011 tax years and $18.4 million was for the 2013 tax year
[3]	Used primarily for marketing to NCM LLC’s advertising clients.
[4]	Refer to Note 3—Intangible Assets for further information on integration payments.

Related-Party Transactions (Schedule Of Mandatory Distributions To Members) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 27, 2014	Mar. 28, 2013
Related Party Transaction [Line Items]
Cash payments to members	$ 11.5	$ 15.1
AMC [Member]
Related Party Transaction [Line Items]
Cash payments to members	1.7	2.5
Cinemark [Member]
Related Party Transaction [Line Items]
Cash payments to members	2.2	2.4
Regal [Member]
Related Party Transaction [Line Items]
Cash payments to members	2.3	3.1
NCM Inc. [Member]
Related Party Transaction [Line Items]
Cash payments to members	$ 5.3	$ 7.1

Related-Party Transactions (Schedule Of Amounts Due To Founding Members) (Details) - USD ($) $ in Millions	Mar. 27, 2014	Dec. 26, 2013
Related Party Transaction [Line Items]
Theatre access fees, net of beverage revenues	$ 2.7	$ 2.4
Cost and other reimbursement	(0.3)	(3.3)
Distributions payable, net	6.2	31.0
Amounts due to founding members	8.6	30.1
AMC [Member]
Related Party Transaction [Line Items]
Theatre access fees, net of beverage revenues	0.7	0.6
Cost and other reimbursement	(0.1)	(2.0)
Distributions payable, net	1.7	8.7
Amounts due to founding members	2.3	7.3
Cinemark [Member]
Related Party Transaction [Line Items]
Theatre access fees, net of beverage revenues	0.8	0.7
Cost and other reimbursement	(0.2)	(0.7)
Distributions payable, net	2.2	10.9
Amounts due to founding members	2.8	10.9
Regal [Member]
Related Party Transaction [Line Items]
Theatre access fees, net of beverage revenues	1.2	1.1
Cost and other reimbursement		(0.6)
Distributions payable, net	2.3	11.4
Amounts due to founding members	$ 3.5	$ 11.9

Related-Party Transactions (Summary Of Transactions Between NCM LLC And AC JV, LLC Included in Statements Of Income) (Details) - USD ($)
$ in Millions

3 Months Ended

Mar. 27, 2014

Mar. 28, 2013

Network costs

$ 4.6

$ 5.0

NCM, LLC. [Member] | AC JV, LLC [Member]

Network costs

^[1]

$ 0.1

[1]

Related-Party Transactions (Summary Of Transactions Between NCM LLC And AC JV, LLC Included In Balance Sheets) (Details) - USD ($)
$ in Millions

Mar. 27, 2014

Dec. 26, 2013

Other assets current

$ 0.9

Other investments

1.1

$ 1.1

NCM, LLC. [Member] | AC JV, LLC [Member]

Other assets current

^[1]

0.6

Other investments

^[2]

$ 1.1

[1]

[2]

Related-Party Transactions (Summary Of Transactions Between The Company And Related Party Affiliates) (Details) - USD ($)
$ in Millions

3 Months Ended

Mar. 27, 2014

Mar. 28, 2013

Dec. 26, 2013

Accounts payable, related party affiliates

$ 0.7

$ 0.8

Starplex [Member]

Accounts payable, related party affiliates

^[1]

0.7

Other [Member]

Accounts payable, related party affiliates

$ 0.1

Advertising Operating Cost [Member]

Advertising operating costs, related party affiliates

0.5

$ 0.6

Advertising Operating Cost [Member] | Starplex [Member]

Advertising operating costs, related party affiliates

^[1]

$ 0.5

0.5

Advertising Operating Cost [Member] | Other [Member]

Advertising operating costs, related party affiliates

$ 0.1

[1]	Starplex Operating L.P. (“Starplex”) is an affiliate of one of NCM, Inc.’s directors

Borrowings (Narrative) (Details)

3 Months Ended

12 Months Ended

Mar. 27, 2014

USD ($)

item

Dec. 26, 2013

USD ($)

Dec. 27, 2012

USD ($)

Nov. 26, 2012

USD ($)

Sep. 22, 2011

USD ($)

Current portion of long-term debt

$ 907,000,000

$ 890,000,000

$ 14,000,000

14,000,000

Senior Secured Credit Facility [Member]

Senior secured leverage ratio | item

3.1

Revolving Credit Facility [Member]

Borrowing amount of credit facility

$ 124,000,000

$ 37,000,000

$ 20,000,000

Weighted-average interest rate

^[1]

Nov. 26, 2017

Unused line fee, percent

0.50%

2.16%

Decrease in basis points

(0.25%)

Term Loans [Member]

Debt instrument face amount

$ 270,000,000

$ 265,000,000

$ 270,000,000

Weighted-average interest rate

Nov. 26, 2019

2.91%

Decrease in basis points

(0.50%)

Revolving Credit Facility Due On November 26, 2017 [Member]

Portion of revolving credit facility

$ 110,000,000

Revolving Credit Facility Due On December 31, 2014 [Member]

Borrowing amount of credit facility

$ 14,000,000

Senior Unsecured Notes [Member]

Dec. 31, 2014

Debt instrument face amount

$ 200,000,000

$ 200,000,000

Date of first required interest payment

Jul. 15, 2021

Stated interest rate

7.875%

Jan. 15, 2012

Senior Secured Notes [Member]

Debt instrument face amount

$ 400,000,000

$ 400,000,000

Date of first required interest payment

Apr. 15, 2022

Stated interest rate

6.00%

Oct. 15, 2012

Maximum [Member] | Senior Secured Credit Facility [Member]

Senior secured leverage ratio | item

6.5

LIBOR [Member] | Term Loans [Member]

LIBOR [Member] | Revolving Credit Facility Due On November 26, 2017 [Member]

2.75%

LIBOR [Member] | Revolving Credit Facility Due On December 31, 2014 [Member]

2.00%

Base Rate [Member] | Term Loans [Member]

1.50%

Base Rate [Member] | Revolving Credit Facility Due On November 26, 2017 [Member]

1.75%

Base Rate [Member] | Revolving Credit Facility Due On December 31, 2014 [Member]

1.00%

0.50%

[1]	A portion of the revolving credit facility has a maturity date of December 31, 2014, as described in further detail below.

Borrowings (Schedule Of Outstanding Debt) (Details) - USD ($)
$ in Millions

3 Months Ended

12 Months Ended

Mar. 27, 2014

Dec. 26, 2013

Dec. 27, 2012

Nov. 26, 2012

Sep. 22, 2011

Less: current portion of long-term debt

$ 907.0

$ 890.0

(14.0)

Long-term debt, less current portion

893.0

876.0

Revolving Credit Facility [Member]

$ 37.0

$ 20.0

^[1]

Nov. 26, 2017

Term Loans [Member]

$ 270.0

$ 265.0

Senior Unsecured Notes [Member]

Nov. 26, 2019

$ 200.0

Senior Secured Notes [Member]

Jul. 15, 2021

Interest Rate

7.875%

$ 400.0

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Apr. 15, 2022

Interest Rate

6.00%

[1]	A portion of the revolving credit facility has a maturity date of December 31, 2014, as described in further detail below.

Commitments And Contingencies (Narrative) (Details) - USD ($) $ in Millions	Mar. 27, 2014	Dec. 26, 2013
Other Commitments [Line Items]
Maximum potential payment	$ 40.9
Carrying amount of minimum revenue guarantees	$ 0.0	$ 0.0
Minimum [Member]
Other Commitments [Line Items]
Range of terms, in years	3 years
Maximum [Member]
Other Commitments [Line Items]
Range of terms, in years	20 years

Fair Value Measurement (Narrative) (Details) - USD ($) $ in Millions	Mar. 27, 2014	Dec. 26, 2013
Fair Value Measurement [Abstract]
Other investments	$ 1.1	$ 1.1
Promissory notes receivable from founding members	$ 25.0	$ 25.0

Fair Value Measurement (Estimated Fair Values Of Company's Financial Instruments) (Details) - USD ($)
$ in Millions

Mar. 27, 2014

Dec. 26, 2013

Carrying Value [Member]

Term Loans

$ 270.0

Carrying Value [Member] | Senior Unsecured Notes [Member]

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Carrying Value [Member] | Senior Secured Notes [Member]

200.0

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

400.0

Fair Value [Member]

Term Loans

^[1]

269.1

269.5

Fair Value [Member] | Senior Unsecured Notes [Member]

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Fair Value [Member] | Senior Secured Notes [Member]

^[1]

221.4

220.4

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

^[1]

$ 422.3

$ 414.0

[1]	The Company has estimated the fair value on an average of at least two non-binding broker quotes and the Company’s analysis. If the Company were to measure the borrowings in the above table at fair value on the balance sheet they would be classified as Level 2.

Fair Value Measurement (Fair Values Of The Company's Assets And Liabilities) (Details) - USD ($)
$ in Millions

3 Months Ended

12 Months Ended

Mar. 27, 2014

Dec. 26, 2013

Cash equivalents

^[1]

$ 7.4

$ 28.3

^[2]

51.4

71.3

Individual securities gross unrealized losses

^[2]

10.8

Total assets

69.6

99.6

0.0

Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Cash equivalents

^[1]

2.7

^[2]

4.6

4.5

Significant Other Observable Inputs (Level 2) [Member]

^[2]

10.0

Total assets

17.3

4.5

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Cash equivalents

^[1]

4.7

28.3

^[2]

46.8

66.8

^[2]

0.8

Total assets

$ 52.3

$ 95.1

[1]

[2]

Investments in debt and equity securities which are categorized neither as held-to-maturity nor trading and which are intended to be sold or mature more than one year from the balance sheet date or operating cycle, if longer. Such securities are reported at fair value; unrealized gains (losses) related to Available-for-sale Securities are excluded from earnings and reported in a separate component of shareholders' equity (other comprehensive income), unless the Available-for-sale security is designated as a hedge or is determined to have had an other than temporary decline in fair value below its amortized cost basis. All or a portion of the unrealized holding gain (loss) of an Available-for-sale security that is designated as being hedged in a fair value hedge is recognized in earnings during the period of the hedge, as are other than temporary declines in fair value below the cost basis for investments in equity securities and debt securities that an entity intends to sell or it is more likely than not that it will be required to sell before the recovery of its amortized cost basis. Other than temporary declines in fair value below the cost basis for debt securities categorized as Available-for-sale that an entity does not intend to sell and for which it is not more likely than not that the entity will be required to sell before the recovery of its amortized cost basis are bifurcated into credit losses and losses related to all other factors. Other than temporary declines in fair value below cost basis related to credit losses are recognized in earnings, and losses related to all other factors are recognized in other comprehensive income.

Schedule of Available-for-sale Securities [Line Items]

Fair Value Measurement (Schedule Of Marketable Securities) (Details) - USD ($)
$ in Millions

3 Months Ended

12 Months Ended

Mar. 27, 2014

Dec. 26, 2013

Aggregate Fair Value - Short term marketable securities

$ 62.2

$ 71.3

^[1]

51.4

71.3

Aggregate Fair Value - Long term marketable securities

^[1]

10.8

Aggregate Fair Value - Total marketable securities

62.2

Short-term Investments [Member] | Municipal [Member]

Schedule of Available-for-sale Securities [Line Items]

Aggregate Fair Value - Short term marketable securities

2.6

4.5

$ 2.6

$ 4.5

Short-term Investments [Member] | U.S. Government Agency Bonds [Member]

^[2]

6 months

2 months 12 days

Schedule of Available-for-sale Securities [Line Items]

Aggregate Fair Value - Short term marketable securities

$ 2.0

$ 2.0

Short-term Investments [Member] | Commercial Paper, Financial [Member]

^[2]

3 months 18 days

Schedule of Available-for-sale Securities [Line Items]

Aggregate Fair Value - Short term marketable securities

$ 34.8

$ 50.3

$ 34.8

$ 50.3

Short-term Investments [Member] | Commercial Paper, Industrial [Member]

^[2]

2 months 12 days

3 months 18 days

Schedule of Available-for-sale Securities [Line Items]

Aggregate Fair Value - Short term marketable securities

$ 7.0

$ 8.8

$ 7.0

$ 8.8

Short-term Investments [Member] | Commercial Paper Utility [Member]

^[2]

6 months

1 month 6 days

Schedule of Available-for-sale Securities [Line Items]

Aggregate Fair Value - Short term marketable securities

$ 5.0

$ 7.7

$ 5.0

$ 7.7

Long-term Investments [Member] | U.S. Treasury Bonds [Member]

^[2]

1 month 6 days

Schedule of Available-for-sale Securities [Line Items]

Aggregate Fair Value - Long term marketable securities

$ 5.1

$ 5.1

Long-term Investments [Member] | Municipal [Member]

^[2]

3 years 6 months

Schedule of Available-for-sale Securities [Line Items]

Aggregate Fair Value - Long term marketable securities

$ 0.4

$ 0.4

Long-term Investments [Member] | U.S. Government Agency Bonds [Member]

^[2]

1 year 6 months

Schedule of Available-for-sale Securities [Line Items]

Aggregate Fair Value - Long term marketable securities

$ 4.5

$ 4.5

Long-term Investments [Member] | Certificates Of Deposit [Member]

^[2]

4 years 1 month 6 days

Schedule of Available-for-sale Securities [Line Items]

Aggregate Fair Value - Long term marketable securities

$ 0.8

$ 0.8

^[2]

4 years 3 months 18 days

[1]

[2]

Derivative Instruments And Hedging Activities (Narrative) (Details) - USD ($)	Mar. 27, 2014	Dec. 26, 2013
Derivative [Line Items]
Amount outstanding related to cash flow hedges	$ 9,100,000
Term Loans [Member]
Derivative [Line Items]
Debt instrument face amount	$ 270,000,000	$ 270,000,000

Derivative Instruments And Hedging Activities (Schedule Of Changes in AOCI By Component) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 27, 2014	Mar. 28, 2013
Derivative Instruments And Hedging Activities [Abstract]
Balance at beginning of period	$ (3.2)	$ (6.7)
Amortization on discontinued cash flow hedges	2.5	2.5
Total amounts reclassified from AOCI	2.5	2.5
Noncontrolling interest on reclassifications	(1.4)	(1.4)
Tax effect on reclassifications	(0.4)	(0.4)
Net other comprehensive income	0.7	0.7
Balance at end of period	$ (2.5)	$ (6.0)

Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge.

Segment Reporting (Narrative) (Details)	3 Months Ended
Segment Reporting (Narrative) (Details)	Mar. 27, 2014	Mar. 28, 2013
Advertising [Member]
Segment Reporting Information [Line Items]
Percentage of revenue	100.00%	89.70%

Segment Reporting (Schedule Of Segment Operating Income) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 27, 2014	Mar. 28, 2013
Segment Reporting Information [Line Items]
Revenue	$ 70.2	$ 82.2
Operating costs	27.0	32.1
Selling and marketing costs	15.0	15.4
Administrative and other costs	7.6	7.7
Depreciation and amortization	7.8	5.4
Interest and other non-operating costs	19.1	19.1
(LOSS) INCOME BEFORE INCOME TAXES	(6.3)	2.5
Advertising [Member]
Segment Reporting Information [Line Items]
Revenue	70.2	73.7
Operating costs	22.4	21.3
Selling and marketing costs	14.3	13.7
Administrative and other costs	0.8	0.3
Depreciation and amortization
Interest and other non-operating costs
(LOSS) INCOME BEFORE INCOME TAXES	32.7	38.4
Fathom Events [Member]
Segment Reporting Information [Line Items]
Revenue		8.5
Operating costs		5.8
Selling and marketing costs		1.1
Administrative and other costs		0.2
Depreciation and amortization
Interest and other non-operating costs
(LOSS) INCOME BEFORE INCOME TAXES		1.4
Network, Administrative And Unallocated Costs [Member]
Segment Reporting Information [Line Items]
Operating costs	4.6	5.0
Selling and marketing costs	0.7	0.6
Administrative and other costs	6.8	7.2
Depreciation and amortization	7.8	5.4
Interest and other non-operating costs	19.1	19.1
(LOSS) INCOME BEFORE INCOME TAXES	$ (39.0)	$ (37.3)

Segment Reporting (Summary Of Revenue By Category) (Details) - USD ($)
$ in Millions

3 Months Ended

Mar. 27, 2014

Mar. 28, 2013

National Advertising Revenue [Member]

$ 70.2

$ 82.2

Local Advertising Revenue [Member]

42.7

51.5

Founding Member Advertising Revenue From Beverage Concessionaire Agreements [Member]

18.1

13.3

Fathom Consumer Revenue [Member]

$ 9.4

8.9

Fathom Business Revenue [Member]

^[1]

8.3