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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 CASH FLOWS

(in thousands, unaudited)

 

     Three months ended
March 31,
 
     2016     2015  

Operating activities

    

Net income

   $ 59,046      $ 42,902   

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

    

Depreciation

     48,839        44,731   

Amortization of intangible and other assets and favorable/unfavorable leases

     490        601   

Amortization of long-term prepaid rents

     471        713   

Amortization of debt issue costs

     1,286        1,312   

Amortization of deferred revenues, deferred lease incentives and other

     (5,243     (3,255

Impairment of long-lived assets

     492        794   

Share based awards compensation expense

     5,118        3,498   

Gain on sale of assets and other

     (1,779     (1,450

Write-off of unamortized debt issue costs associated with early retirement of debt

     2,369        —     

Deferred lease expenses

     (440     (703

Equity in income of affiliates

     (7,142     (5,239

Deferred income tax expenses

     (2,933     (14,349

Distributions from equity investees

     8,086        7,264   

Changes in assets and liabilities and other

     (40,947     (51,705
  

 

 

   

 

 

 

Net cash provided by operating activities

     67,713        25,114   

Investing activities

    

Additions to theatre properties and equipment and other

     (47,745     (85,747

Acquisition of theatre in Brazil

     —          (2,651

Acquisition of theatres in the U.S.

     (15,300     —     

Proceeds from sale of theatre properties and equipment and other

     347        2,388   

Proceeds from sale of marketable securities

     13,451        —     

Investment in joint ventures and other

     (12     (713
  

 

 

   

 

 

 

Net cash used for investing activities

     (49,259     (86,723

Financing activities

    

Dividends paid to stockholders

     (31,367     (28,923

Payroll taxes paid as a result of restricted stock withholdings

     (5,610     (4,748

Proceeds from issuance of Senior Notes, net of discount

     222,750        —     

Retirement of Senior Subordinated Notes

     (200,000     —     

Repayments of long-term debt

     (1,758     (1,758

Payments of debt issue costs

     (3,675     —     

Payments on capital leases

     (4,572     (3,913

Other

     1,503        2,244   
  

 

 

   

 

 

 

Net cash used for financing activities

     (22,729     (37,098

Effect of exchange rate changes on cash and cash equivalents

     (372     (7,317
  

 

 

   

 

 

 

Decrease in cash and cash equivalents

     (4,647     (106,024

Cash and cash equivalents:

    

Beginning of period

     588,539        638,869   
  

 

 

   

 

 

 

End of period

   $ 583,892      $ 532,845   
  

 

 

   

 

 

 

 

Supplemental information (see Note 14)

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

 

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