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SEC Filings

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

CINEMARK HOLDINGS, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

In thousands, except share and per share data

 

22. VALUATION AND QUALIFYING ACCOUNTS

The Company’s valuation allowance for deferred tax assets for the years ended December 31, 2012, 2013 and 2014 were as follows:

 

     Valuation
Allowance

for  Deferred
Tax Assets
 

Balance at January 1, 2012

   $ 15,443   

Additions

     6,298   

Deductions

     (8,415
  

 

 

 

Balance at December 31, 2012

   $ 13,326   

Additions

     14,162   

Deductions

     (1,777
  

 

 

 

Balance at December 31, 2013

   $ 25,711   

Additions

     28,612   

Deductions

     (1,450
  

 

 

 

Balance at December 31, 2014

   $ 52,873   
  

 

 

 

 

23. QUARTERLY FINANCIAL INFORMATION (UNAUDITED)

 

     2013  
     First
Quarter
     Second
Quarter(1)
     Third
Quarter
     Fourth
Quarter(2)
     Full Year  

Revenues

   $ 547,773       $ 725,622       $ 757,566       $ 651,933       $ 2,682,894   

Operating income

   $ 65,629       $ 134,017       $ 135,192       $ 80,653       $ 415,491   

Net income attributable to Cinemark Holdings, Inc.

   $ 32,594       $ 20,265       $ 80,019       $ 15,592       $ 148,470   

Net income per share attributable to Cinemark Holdings, Inc.’s common stockholders:

           

Basic

   $ 0.28       $ 0.18       $ 0.69       $ 0.13       $ 1.28   

Diluted

   $ 0.28       $ 0.18       $ 0.69       $ 0.13       $ 1.28   
     2014  
     First
Quarter
     Second
Quarter
     Third
Quarter
     Fourth
Quarter
     Full Year  

Revenues

   $ 602,280       $ 717,863       $ 646,903       $ 659,944       $ 2,626,990   

Operating income

   $ 67,855       $ 116,866       $ 82,284       $ 96,065       $ 363,070   

Net income attributable to Cinemark Holdings, Inc.

   $ 35,443       $ 71,731       $ 38,129       $ 47,307       $ 192,610   

Net income per share attributable to Cinemark Holdings, Inc.’s common stockholders:

           

Basic

   $ 0.31       $ 0.62       $ 0.33       $ 0.41       $ 1.66   

Diluted

   $ 0.31       $ 0.62       $ 0.33       $ 0.41       $ 1.66   

 

(1) 

Net income attributable to Cinemark Holdings, Inc. for the second quarter of 2013 includes a loss on early retirement of debt of $72,302 as a result of the redemption of Cinemark USA, Inc.’s 8.625% Senior Notes on June 24, 2013. See Note 11 for additional information.

(2) 

Net income attributable to Cinemark Holdings, Inc. for the fourth quarter of 2013 includes $21,406 of income tax expense related to the sale of the Company’s Mexico subsidiaries, which closed on November 15, 2013.

 

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