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SEC Filings

10-Q
CINEMARK HOLDINGS, INC. filed this Form 10-Q on 08/09/2016
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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

 

12. Foreign Currency Translation

The accumulated other comprehensive loss account in stockholders’ equity of $234,992 and $271,686 at June 30, 2016 and December 31, 2015, respectively, includes cumulative foreign currency adjustments of $234,757 and $273,404, respectively, from translating the financial statements of the Company’s international subsidiaries, and also includes the change in fair values of the Company’s interest rate swap agreements that are designated as hedges and the change in fair value of the Company’s available-for-sale securities.

All foreign countries where the Company has operations are non-highly inflationary, and the local currency is the same as the functional currency in all of the locations. Thus, any fluctuation in the currency results in a cumulative foreign currency translation adjustment recorded to accumulated other comprehensive loss.

Below is a summary of the impact of translating the June 30, 2016 financial statements of the Company’s international subsidiaries:

 

     Exchange Rate as of      Other Comprehensive
Income (Loss) for The
Six Months Ended

June 30, 2016
 

Country

   June 30, 2016      December 31, 2015     

Brazil

     3.23         3.96       $ 41,953   

Argentina

     14.97         12.95         (8,797

Colombia

     2,916.15         3,149.47         2,147   

Chile

     672.50         709.16         2,352   

Peru

     3.34         3.46         1,417   

All other

           (425
        

 

 

 
         $ 38,647   
        

 

 

 

13. Supplemental Cash Flow Information

The following is provided as supplemental information to the condensed consolidated statements of cash flows:

 

     Six Months Ended  
     June 30,  
     2016      2015  

Cash paid for interest

   $ 57,756       $ 53,667   

Cash paid for income taxes, net of refunds received

   $ 35,445       $ 44,701   

Noncash investing and financing activities:

     

Change in accounts payable and accrued expenses for the acquisition of theatre properties and equipment (1)

   $ 11,362       $ (4,701

Theatre properties acquired under capital lease

   $ 9,779       $ 13,726   

Investment in NCM – receipt of common units (see Note 6)

   $ 11,111       $ 15,421   

Dividends accrued on unvested restricted stock unit awards

   $ (264    $ (200

 

(1)  Additions to theatre properties and equipment included in accounts payable as of June 30, 2016 and December 31, 2015 were $22,516 and $11,154, respectively.

 

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