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SEC Filings

10-Q
CINEMARK HOLDINGS, INC. filed this Form 10-Q on 05/10/2016
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Table of Contents

CINEMARK HOLDINGS, INC. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

In thousands, except share and per share data

 

The long-lived asset impairment charges recorded during each of the periods presented are specific to theatres that were directly and individually impacted by increased competition, adverse changes in market demographics or adverse changes in the development or the conditions of the areas surrounding the theatre.

 

     Three Months
Ended
 
     March 31,  
     2016      2015  

United States theatre properties

   $ 136       $ 794   

International theatre properties

     356         —     
  

 

 

    

 

 

 

Impairment of long-lived assets

   $ 492       $ 794   
  

 

 

    

 

 

 

12. Fair Value Measurements

The Company determines fair value measurements in accordance with FASB ASC Topic 820, which establishes a fair value hierarchy under which an asset or liability is categorized based on the lowest level of input significant to its fair value measurement. The levels of input defined by FASB ASC Topic 820 are as follows:

Level 1 – quoted market prices in active markets for identical assets or liabilities that are accessible at the measurement date;

Level 2 – other than quoted market prices included in Level 1 that are observable for the asset or liability, either directly or indirectly; and

Level 3 – unobservable and should be used to measure fair value to the extent that observable inputs are not available.

Below is a summary of assets and liabilities measured at fair value on a recurring basis by the Company under FASB ASC Topic 820 as of March 31, 2016:

 

     Carrying
Value
     Fair Value  

Description

      Level 1      Level 2      Level 3  

Interest rate swap liabilities – current (see Note 9)

   $ (53    $ —         $ —         $ (53

Below is a summary of assets and liabilities measured at fair value on a recurring basis by the Company under FASB ASC Topic 820 as of December 31, 2015:

 

     Carrying
Value
     Fair Value  

Description

      Level 1      Level 2      Level 3  

Interest rate swap liabilities – current (see Note 9)

   $ (373    $ —         $ —         $ (373

Investment in RealD (see Note 7)

   $ 12,900       $ 12,900       $ —         $ —     

Below is a reconciliation of the beginning and ending balance for liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3):

 

     Liabilities  
     2016      2015  

Beginning balances - January 1

   $ 373       $ 4,572   

Total loss included in accumulated other comprehensive loss

     14         236   

Settlements

     (334      (1,446
  

 

 

    

 

 

 

Ending balances – March 31

   $ 53       $ 3,362   
  

 

 

    

 

 

 

 

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