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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

CINEMARK HOLDINGS, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF INCOME

YEARS ENDED DECEMBER 31, 2012, 2013 AND 2014

(In thousands, except per share data)

 

     2012     2013     2014  

Revenues

      

Admissions

   $ 1,580,401      $ 1,706,145      $ 1,644,169   

Concession

     771,405        845,168        845,376   

Other

     121,725        131,581        137,445   
  

 

 

   

 

 

   

 

 

 

Total revenues

     2,473,531        2,682,894        2,626,990   

Cost of operations

      

Film rentals and advertising

     845,107        919,511        883,052   

Concession supplies

     123,471        135,715        131,985   

Salaries and wages

     247,468        269,353        273,880   

Facility lease expense

     281,615        307,851        317,096   

Utilities and other

     280,670        305,703        308,445   

General and administrative expenses

     148,624        165,351        151,444   

Depreciation and amortization

     147,675        163,970        175,656   

Impairment of long-lived assets

     3,031        3,794        6,647   

(Gain) loss on sale of assets and other

     12,168        (3,845     15,715   
  

 

 

   

 

 

   

 

 

 

Total cost of operations

     2,089,829        2,267,403        2,263,920   
  

 

 

   

 

 

   

 

 

 

Operating income

     383,702        415,491        363,070   

Other income (expense)

      

Interest expense

     (123,665     (124,714     (113,698

Interest income

     6,373        3,622        5,599   

Foreign currency exchange gain (loss)

     2,086        (1,616     (6,192

Loss on early retirement of debt

     (5,599     (72,302     —     

Distributions from NCM

     20,812        20,701        18,541   

Equity in income of affiliates

     13,109        22,682        22,743   
  

 

 

   

 

 

   

 

 

 

Total other expense

     (86,884     (151,627     (73,007
  

 

 

   

 

 

   

 

 

 

Income before income taxes

     296,818        263,864        290,063   

Income taxes

     125,398        113,316        96,064   
  

 

 

   

 

 

   

 

 

 

Net income

     171,420        150,548        193,999   

Less: Net income attributable to noncontrolling interests

     2,471        2,078        1,389   
  

 

 

   

 

 

   

 

 

 

Net income attributable to Cinemark Holdings, Inc.

   $ 168,949      $ 148,470      $ 192,610   
  

 

 

   

 

 

   

 

 

 

Weighted average shares outstanding

      

Basic

     113,216        113,896        114,653   
  

 

 

   

 

 

   

 

 

 

Diluted

     113,824        114,396        114,966   
  

 

 

   

 

 

   

 

 

 

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

      

Basic

   $ 1.47      $ 1.28      $ 1.66   
  

 

 

   

 

 

   

 

 

 

Diluted

   $ 1.47      $ 1.28      $ 1.66   
  

 

 

   

 

 

   

 

 

 

The accompanying notes are an integral part of the consolidated financial statements.

 

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