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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. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

In thousands, except share and per share data

 

As of December 31, 2014, the Company owned a total of 24,556,136 common units of NCM, which represented an approximate 19% interest. Each common unit is convertible into one share of NCMI common stock. The estimated fair value of the Company’s investment in NCM was approximately $352,872 as of December 31, 2014, using NCMI’s stock price as of December 31, 2014 of $14.37 per share.

Summary of Activity with NCM

Below is a summary of activity with NCM included in the Company’s consolidated financial statements for the periods indicated:

 

    Investment
in NCM
    Deferred
Revenue
    Distributions
from NCM
    Equity in
Earnings
    Other
Revenue
    Other
Comprehensive
Income
    Cash
Received
 

Balance as of January 1, 2012

  $ 72,040      $ (236,310          

Receipt of common units due to annual common unit adjustment

    9,137        (9,137   $ —        $ —        $ —        $ —        $ —     

Revenues earned under ESA (1)

    —          —          —          —          (7,112     —        $ 7,112   

Receipt of excess cash distributions

    (6,503     —          (17,889     —          —          —        $ 24,392   

Receipt under tax receivable agreement

    (967     —          (2,923     —          —          —        $ 3,890   

Equity in earnings

    4,416        —          —          (4,416     —          —          —     

Amortization of deferred revenue

    —          4,142        —          —          (4,142     —          —     
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Balance as of and for the period ended December 31, 2012

  $ 78,123      $ (241,305   $ (20,812   $ (4,416   $ (11,254   $ —        $ 35,394   
     

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Receipt of common units due to annual common unit adjustment

    8,869        (8,869   $ —        $ —        $ —        $ —        $ —     

Receipt of common units due to extraordinary common unit adjustment

    89,928        (89,928     —          —          —          —          —     

Revenues earned under ESA (1)

    —          —              (7,960     —          7,960   

Receipt of excess cash distributions

    (13,166     —          (19,374     —          —          —          32,540   

Receipt under tax receivable agreement

    (492     —          (1,327     —          —          —          1,819   

Equity in earnings (2)

    13,753        —          —          (11,578     —          —          —     

Equity in other comprehensive income

    1,838        —          —          —          —          (1,838     —     

Amortization of deferred revenue

    —          5,673        —          —          (5,673     —          —     
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Balance as of and for the period ended December 31, 2013

  $ 178,853      $ (334,429   $ (20,701   $ (11,578   $ (13,633   $ (1,838   $ 42,319   
     

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Receipt of common units due to annual common unit adjustment

    8,216        (8,216   $ —        $ —        $ —        $ —        $ —     

Revenues earned under ESA (1)

    —          —          —          —          (9,249     —          9,249   

Receipt of excess cash distributions

    (12,574     —          (14,778     —          —          —          27,352   

Receipt under tax receivable agreement

    (2,594     —          (3,763     —          —          —          6,357   

Equity in earnings

    6,142        —          —          (6,142     —          —          —     

Equity in other comprehensive income

    896        —          —          —          —          (896     —     

Amortization of deferred revenue

    —          7,426        —          —          (7,426     —          —     
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Balance as of and for the period ended December 31, 2014

  $ 178,939      $ (335,219   $ (18,541   $ (6,142   $ (16,675   $ (896 )   $ 42,958   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

 

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