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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

 

Below is a breakdown of select financial information by reportable operating segment:

 

     Year Ended December 31,  
     2012      2013      2014  

Revenues:

        

U.S.

   $ 1,706,511       $ 1,912,674       $ 1,934,990   

International

     777,663         783,053         704,623   

Eliminations

     (10,643      (12,833      (12,623
  

 

 

    

 

 

    

 

 

 

Total revenues

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

 

 

    

 

 

    

 

 

 
     Year Ended December 31,  
     2012      2013      2014  

Adjusted EBITDA (1):

        

U.S.

   $ 409,860       $ 455,489       $ 436,863   

International

     179,375         169,834         159,662   
  

 

 

    

 

 

    

 

 

 

Total Adjusted EBITDA

   $ 589,235       $ 625,323       $ 596,525   
  

 

 

    

 

 

    

 

 

 
     Year Ended December 31,  
     2012      2013      2014  

Capital expenditures:

        

U.S.

   $ 107,323       $ 117,488       $ 148,532   

International

     113,404         142,182         96,173   
  

 

 

    

 

 

    

 

 

 

Total capital expenditures

   $ 220,727       $ 259,670       $ 244,705   
  

 

 

    

 

 

    

 

 

 

 

(1) 

Distributions from NCM are reported entirely within the U.S. operating segment

The following table sets forth a reconciliation of net income to Adjusted EBITDA:

 

     Year Ended December 31,  
     2012     2013     2014  

Net income

   $ 171,420      $ 150,548      $ 193,999   

Add (deduct):

      

Income taxes

     125,398        113,316        96,064   

Interest expense (1)

     123,665        124,714        113,698   

Loss on early retirement of debt

     5,599        72,302        —     

Other income (2)

     (21,568     (24,688     (22,150

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   

Deferred lease expenses

     4,104        5,701        2,536   

Amortization of long-term prepaid rents

     2,673        2,625        1,542   

Share based awards compensation expense

     15,070        16,886        12,818   
  

 

 

   

 

 

   

 

 

 

Adjusted EBITDA

   $ 589,235      $ 625,323      $ 596,525   
  

 

 

   

 

 

   

 

 

 

 

(1) 

Includes amortization of debt issue costs.

(2) 

Includes interest income, foreign currency exchange gain (loss), and equity in income of affiliates and excludes distributions from NCM.

 

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