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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

PART I – FINANCIAL INFORMATION

Item 1. Financial Statements

CINEMARK HOLDINGS, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands, except share and per share data, unaudited)

 

     March 31,     December 31,  
     2016     2015  

Assets

    

Current assets

    

Cash and cash equivalents

   $ 583,892      $ 588,539   

Inventories

     15,300        15,954   

Accounts receivable

     67,979        74,287   

Current income tax receivable

     778        22,877   

Prepaid expenses and other

     17,958        13,494   
  

 

 

   

 

 

 

Total current assets

     685,907        715,151   

Theatre properties and equipment

     2,758,309        2,687,391   

Less: accumulated depreciation and amortization

     1,232,450        1,182,322   
  

 

 

   

 

 

 

Theatre properties and equipment, net

     1,525,859        1,505,069   

Other assets

    

Goodwill

     1,258,686        1,247,548   

Intangible assets – net

     338,491        339,644   

Investment in NCM

     188,653        183,755   

Investments in and advances to affiliates

     87,031        94,973   

Long-term deferred tax asset

     2,133        2,114   

Deferred charges and other assets – net

     41,955        38,243   
  

 

 

   

 

 

 

Total other assets

     1,916,949        1,906,277   
  

 

 

   

 

 

 

Total assets

   $ 4,128,715      $ 4,126,497   
  

 

 

   

 

 

 

Liabilities and equity

    

Current liabilities

    

Current portion of long-term debt

   $ 8,397      $ 8,405   

Current portion of capital lease obligations

     18,841        18,780   

Current income tax payable

     12,691        7,332   

Current liability for uncertain tax positions

     10,092        9,155   

Accounts payable and accrued expenses

     339,873        396,121   
  

 

 

   

 

 

 

Total current liabilities

     389,894        439,793   

Long-term liabilities

    

Long-term debt, less current portion

     1,793,907        1,772,930   

Capital lease obligations, less current portion

     206,368        208,952   

Long-term deferred tax liability

     137,177        139,905   

Long-term liability for uncertain tax positions

     7,905        7,853   

Deferred lease expenses

     42,918        43,333   

Deferred revenue – NCM

     351,022        342,134   

Other long-term liabilities

     48,550        60,784   
  

 

 

   

 

 

 

Total long-term liabilities

     2,587,847        2,575,891   

Commitments and contingencies (see Note 17)

    

Equity

    

Cinemark Holdings, Inc.’s stockholders’ equity:

    

Common stock, $0.001 par value: 300,000,000 shares authorized, 120,520,649 shares issued and 116,139,723 shares outstanding at March 31, 2016 and 120,107,563 shares issued and 115,924,059 shares outstanding at December 31, 2015

     121        120   

Additional paid-in-capital

     1,120,061        1,113,219   

Treasury stock, 4,380,926 and 4,183,504 shares, at cost, at March 31, 2016 and December 31, 2015, respectively

     (72,187     (66,577

Retained earnings

     351,611        324,632   

Accumulated other comprehensive loss

     (260,047     (271,686
  

 

 

   

 

 

 

Total Cinemark Holdings, Inc.’s stockholders’ equity

     1,139,559        1,099,708   

Noncontrolling interests

     11,415        11,105   
  

 

 

   

 

 

 

Total equity

     1,150,974        1,110,813   
  

 

 

   

 

 

 

Total liabilities and equity

   $ 4,128,715      $ 4,126,497   
  

 

 

   

 

 

 

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

 

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