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SEC Filings

10-K
CINEMARK HOLDINGS, INC. filed this Form 10-K on 02/27/2015
Entire Document
 


Table of Contents

Results of Operations

The following table sets forth, for the periods indicated, the amounts for certain items reflected in our consolidated statements of income along with each of those items as a percentage of revenues. During May 2013, we acquired 32 theatres with 483 screens in the U.S. The results of operations for these theatres are included in our consolidated results of operations beginning on the date of the acquisition. During November 2013, we sold our Mexico theatres, which included 31 theatres and 290 screens.

 

     Year Ended December 31,  
     2012     2013     2014  

Operating data (in millions):

      

Revenues

      

Admissions

   $ 1,580.4      $ 1,706.1      $ 1,644.2   

Concession

     771.4        845.2        845.4   

Other

     121.7        131.6        137.4   
  

 

 

   

 

 

   

 

 

 

Total revenues

     2,473.5        2,682.9        2,627.0   

Cost of operations

      

Film rentals and advertising

     845.1        919.5        883.1   

Concession supplies

     123.5        135.7        132.0   

Salaries and wages

     247.4        269.3        273.9   

Facility lease expense

     281.6        307.9        317.1   

Utilities and other

     280.7        305.7        308.4   

General and administrative expenses

     148.6        165.4        151.4   

Depreciation and amortization

     147.7        164.0        175.7   

Impairment of long-lived assets

     3.0        3.8        6.6   

(Gain) loss on sale of assets and other

     12.2        (3.9     15.7   
  

 

 

   

 

 

   

 

 

 

Total cost of operations

     2,089.8        2,267.4        2,263.9   
  

 

 

   

 

 

   

 

 

 

Operating income

   $ 383.7      $ 415.5      $ 363.1   
  

 

 

   

 

 

   

 

 

 

Operating data as a percentage of total revenues:

      

Revenues

      

Admissions

     63.9     63.6     62.6

Concession

     31.2     31.5     32.2

Other

     4.9     4.9     5.2
  

 

 

   

 

 

   

 

 

 

Total revenues

     100.0     100.0     100.0
  

 

 

   

 

 

   

 

 

 

Cost of operations (1)

      

Film rentals and advertising

     53.5     53.9     53.7

Concession supplies

     16.0     16.1     15.6

Salaries and wages

     10.0     10.0     10.4

Facility lease expense

     11.4     11.5     12.1

Utilities and other

     11.3     11.4     11.7

General and administrative expenses

     6.0     6.2     5.8

Depreciation and amortization

     6.0     6.1     6.7

Impairment of long-lived assets

     0.1     0.1     0.3

(Gain) loss on sale of assets and other

     0.5     (0.1 %)      0.6

Total cost of operations

     84.5     84.5     86.2

Operating income

     15.5     15.5     13.8
  

 

 

   

 

 

   

 

 

 

Average screen count (month end average)

     5,198        5,548        5,613   
  

 

 

   

 

 

   

 

 

 

Revenues per average screen (dollars)

   $ 475,897      $ 483,579      $ 468,019   
  

 

 

   

 

 

   

 

 

 

 

(1) 

All costs are expressed as a percentage of total revenues, except film rentals and advertising, which are expressed as a percentage of admissions revenues and concession supplies, which are expressed as a percentage of concession revenues.

 

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