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SEC Filings

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


Table of Contents

Results of Operations

The following table sets forth, for the periods indicated, certain operating data and the percentage of revenues represented by certain items reflected in our condensed consolidated statements of income.

 

     Three Months Ended     Six Months Ended  
     June 30,     June 30,  
Operating data (in millions):    2016     2015     2016     2015  

Revenues

        

Admissions

   $ 456.1      $ 502.9      $ 891.9      $ 903.6   

Concession

     253.6        259.6        491.4        474.0   

Other

     34.7        37.4        66.0        67.7   
  

 

 

   

 

 

   

 

 

   

 

 

 

Total revenues

   $ 744.4      $ 799.9      $ 1,449.3      $ 1,445.3   

Cost of operations

        

Film rentals and advertising (1)

     250.4        278.1        483.3        485.8   

Concession supplies

     39.2        40.9        75.1        73.4   

Salaries and wages

     84.3        76.5        159.4        145.7   

Facility lease expense

     80.3        82.4        159.1        162.0   

Utilities and other (1)

     89.1        92.3        170.5        175.7   

General and administrative expenses

     36.0        39.3        73.9        77.2   

Depreciation and amortization

     52.4        46.6        101.7        91.9   

Impairment of long-lived assets

     1.4        3.5        1.9        4.3   

Loss on sale of assets and other

     5.8        5.8        4.0        4.4   
  

 

 

   

 

 

   

 

 

   

 

 

 

Total cost of operations

     638.9        665.4        1,228.9        1,220.4   
  

 

 

   

 

 

   

 

 

   

 

 

 

Operating income

   $ 105.5      $ 134.5      $ 220.4      $ 224.9   
  

 

 

   

 

 

   

 

 

   

 

 

 

Operating data as a percentage of total revenues:

        

Revenues

        

Admissions

     61.3     62.9     61.5     62.5

Concession

     34.1     32.4     33.9     32.8

Other

     4.6     4.7     4.6     4.7
  

 

 

   

 

 

   

 

 

   

 

 

 

Total revenues

     100.0     100.0     100.0     100.0
  

 

 

   

 

 

   

 

 

   

 

 

 

Cost of operations (2)

        

Film rentals and advertising (1)

     54.9     55.3     54.2     53.8

Concession supplies

     15.5     15.8     15.3     15.5

Salaries and wages

     11.3     9.6     11.0     10.1

Facility lease expense

     10.8     10.3     11.0     11.2

Utilities and other (1)

     12.0     11.5     11.8     12.2

General and administrative expenses

     4.8     4.9     5.1     5.3

Depreciation and amortization

     7.0     5.8     7.0     6.4

Impairment of long-lived assets

     0.2     0.4     0.1     0.3

Loss on sale of assets and other

     0.8     0.7     0.3     0.3

Total cost of operations

     85.8     83.2     84.8     84.4

Operating income

     14.2     16.8     15.2     15.6
  

 

 

   

 

 

   

 

 

   

 

 

 

Average screen count (month end average)

     5,864        5,707        5,834        5,693   
  

 

 

   

 

 

   

 

 

   

 

 

 

Revenues per average screen (dollars)

   $ 126,945      $ 140,167      $ 248,418      $ 253,878   
  

 

 

   

 

 

   

 

 

   

 

 

 

 

(1)  We have reclassified approximately $7.2 million and $15.2 million of expenses from film rentals and advertising to utilities and other for the three and six months ended June 30, 2015, respectively, to be consistent with the presentation for the three and six months ended June 30, 2016.
(2)  All costs are expressed as a percentage of total revenues, except film rentals and advertising, which are expressed as a percentage of admissions revenues and concession supplies, which are expressed as a percentage of concession revenues.

 

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