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10-K
CINEMARK HOLDINGS, INC. filed this Form 10-K on 02/27/2015
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Table of Contents

CINEMARK HOLDINGS, INC.

NOTES TO PARENT COMPANY FINANCIAL STATEMENTS

In thousands, except share and per share data

 

1. BASIS OF PRESENTATION

Cinemark Holdings, Inc. conducts substantially all of its operations through its subsidiaries. These statements should be read in conjunction with the Company’s consolidated financial statements and notes included elsewhere in this annual report on Form 10-K. There are significant restrictions over Cinemark Holdings, Inc.’s ability to obtain funds from its subsidiaries through dividends, loans or advances as contained in Cinemark USA, Inc.’s amended senior secured credit facility and the indentures to each of the 4.875% Senior Notes, the 5.125% Senior Notes and the 7.375% Senior Subordinated Notes (collectively referred to herein as the “Notes”). These condensed parent company financial statements have been prepared in accordance with Rule 12-04, Schedule I of Regulation S-X, as the restricted net assets of Cinemark Holdings, Inc.’s subsidiaries under each of the debt agreements previously noted exceeds 25 percent of the consolidated net assets of Cinemark Holdings, Inc. As of December 31, 2014, the restricted net assets totaled approximately $796,118 and $1,022,937 under the amended senior secured credit facility and the Notes, respectively. See Note 11 to the Company’s consolidated financial statements included elsewhere in this annual report on Form 10-K.

 

2. DIVIDEND PAYMENTS

Below is a summary of dividends declared for the fiscal periods indicated.

 

Date
Declared

   Date of
Record
   Date
Paid
   Amount per
Common
Share (2)
     Total
Dividends  (1)
 

    02/03/12

   03/02/12    03/16/12    $ 0.21       $ 24,141   

    05/11/12

   06/04/12    06/19/12    $ 0.21         24,274   

    08/08/12

   08/21/12    09/05/12    $ 0.21         24,281   

    11/06/12

   11/21/12    12/07/12    $ 0.21         24,565   
           

 

 

 

Total – Year ended December 31, 2012

  

   $ 97,261   
           

 

 

 

    02/12/13

   03/04/13    03/15/13    $ 0.21       $ 24,325   

    05/24/13

   06/06/13    06/20/13    $ 0.21         24,348   

    08/15/13

   08/28/13    09/12/13    $ 0.25         28,992   

    11/19/13

   12/02/13    12/11/13    $ 0.25         29,152   
           

 

 

 

Total – Year ended December 31, 2013

  

   $ 106,817   
           

 

 

 

    02/14/14

   03/04/14    03/19/14    $ 0.25       $ 29,015   

    05/22/14

   06/06/14    06/20/14    $ 0.25         29,030   

    08/13/14

   08/28/14    09/12/14    $ 0.25         29,032   

    11/12/14

   12/02/14    12/11/14    $ 0.25         29,078   
           

 

 

 

Total – Year ended December 31, 2014

      $ 116,155   
           

 

 

 

 

(1) 

Of the dividends recorded during 2012, 2013 and 2014, $894, $772 and $530, respectively, were related to outstanding restricted stock units and will not be paid until such units vest. See Note 16 to the Company’s consolidated financial statements included elsewhere in this annual report on Form 10-K.

(2) 

Beginning with the dividend declared on August 15, 2013, the Company’s board of directors raised the quarterly dividend to $0.25 per common share.

 

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