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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

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(in thousands, except per share data, unaudited)

 

     Three months ended
March 31,
 
     2016     2015  

Revenues

    

Admissions

   $ 435,820      $ 400,662   

Concession

     237,815        214,427   

Other

     31,234        30,309   
  

 

 

   

 

 

 

Total revenues

     704,869        645,398   

Cost of operations

    

Film rentals and advertising

     232,914        207,610   

Concession supplies

     35,903        32,503   

Salaries and wages

     75,136        69,223   

Facility lease expense

     78,804        79,617   

Utilities and other

     81,377        83,406   

General and administrative expenses

     37,866        37,925   

Depreciation and amortization

     49,329        45,332   

Impairment of long-lived assets

     492        794   

Gain on sale of assets and other

     (1,779     (1,450
  

 

 

   

 

 

 

Total cost of operations

     590,042        554,960   
  

 

 

   

 

 

 

Operating income

     114,827        90,438   

Other income (expense)

    

Interest expense

     (28,059     (28,207

Loss on early retirement of debt

     (13,186     —     

Interest income

     1,352        1,519   

Foreign currency exchange gain (loss)

     1,886        (8,206

Distributions from NCM

     8,543        8,499   

Equity in income of affiliates

     7,142        5,239   
  

 

 

   

 

 

 

Total other expense

     (22,322     (21,156
  

 

 

   

 

 

 

Income before income taxes

     92,505        69,282   

Income taxes

     33,459        26,380   
  

 

 

   

 

 

 

Net income

   $ 59,046      $ 42,902   

Less: Net income attributable to noncontrolling interests

     521        381   
  

 

 

   

 

 

 

Net income attributable to Cinemark Holdings, Inc.

   $ 58,525      $ 42,521   
  

 

 

   

 

 

 

Weighted average shares outstanding

    

Basic

     115,245        114,837   
  

 

 

   

 

 

 

Diluted

     115,527        115,058   
  

 

 

   

 

 

 

Earnings per share attributable to Cinemark Holdings, Inc.’s common stockholders

    

Basic

   $ 0.50      $ 0.37   
  

 

 

   

 

 

 

Diluted

   $ 0.50      $ 0.37   
  

 

 

   

 

 

 

Dividends declared per common share

   $ 0.27      $ 0.25   
  

 

 

   

 

 

 

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

 

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