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SEC Filings

10-Q
CINEMARK HOLDINGS, INC. filed this Form 10-Q on 11/05/2015
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Table of Contents

CINEMARK HOLDINGS, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands, unaudited)

 

     Nine months ended September 30,  
     2015     2014  

Operating activities

    

Net income

   $ 160,493      $ 146,362   

Adjustments to reconcile net income to cash provided by operating activities:

    

Depreciation

     137,683        129,183   

Amortization of intangible and other assets and favorable/unfavorable leases

     1,761        1,925   

Amortization of long-term prepaid rents

     1,901        1,785   

Amortization of debt issue costs

     3,876        3,934   

Amortization of deferred revenues, deferred lease incentives and other

     (11,959     (10,198

Impairment of long-lived assets

     4,955        5,294   

Share based awards compensation expense

     9,850        9,564   

Loss on sale of assets and other

     3,852        8,719   

Deferred lease expenses

     (1,809     2,016   

Equity in income of affiliates

     (20,372     (17,548

Deferred income tax expenses

     (9,570     (20,976

Distributions from equity investees

     12,679        11,374   

Changes in assets and liabilities and other

     (67,003     (48,285
  

 

 

   

 

 

 

Net cash provided by operating activities

     226,337        223,149   

Investing activities

    

Additions to theatre properties and equipment and other

     (232,351     (156,168

Acquisition of theatre in Brazil

     (2,651     —     

Proceeds from sale of theatre properties and equipment and other

     6,283        1,973   

Investment in joint ventures and other

     (3,180     (1,925
  

 

 

   

 

 

 

Net cash used for investing activities

     (231,899     (156,120

Financing activities

    

Proceeds from stock option exercises

     —          112   

Payroll taxes paid as a result of restricted stock withholdings

     (4,770     (9,776

Dividends paid to stockholders

     (86,882     (86,700

Repayments of long-term debt

     (5,274     (6,702

Payment of debt issue costs

     (6,957     —     

Payments on capital leases

     (12,201     (10,293

Other

     2,123        3,349   
  

 

 

   

 

 

 

Net cash used for financing activities

     (113,961     (110,010

Effect of exchange rate changes on cash and cash equivalents

     (16,432     (10,283
  

 

 

   

 

 

 

Decrease in cash and cash equivalents

     (135,955     (53,264

Cash and cash equivalents:

    

Beginning of period

     638,869        599,929   
  

 

 

   

 

 

 

End of period

   $ 502,914      $ 546,665   
  

 

 

   

 

 

 

Supplemental information (see Note 14)

    

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

 

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