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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

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)

 

     June 30,     December 31,  
     2016     2015  

Assets

    

Current assets

    

Cash and cash equivalents

   $ 583,600      $ 588,539   

Inventories

     15,977        15,954   

Accounts receivable

     79,989        74,287   

Current income tax receivable

     2,706        22,877   

Prepaid expenses and other

     16,913        13,494   
  

 

 

   

 

 

 

Total current assets

     699,185        715,151   

Theatre properties and equipment

     2,880,968        2,687,391   

Less accumulated depreciation and amortization

     1,290,188        1,182,322   
  

 

 

   

 

 

 

Theatre properties and equipment, net

     1,590,780        1,505,069   

Other assets

    

Goodwill

     1,263,126        1,247,548   

Intangible assets - net

     337,642        339,644   

Investment in NCM

     188,441        183,755   

Investments in and advances to affiliates

     93,099        94,973   

Long-term deferred tax asset

     2,179        2,114   

Deferred charges and other assets - net

     41,241        38,243   
  

 

 

   

 

 

 

Total other assets

     1,925,728        1,906,277   
  

 

 

   

 

 

 

Total assets

   $ 4,215,693      $ 4,126,497   
  

 

 

   

 

 

 

Liabilities and equity

    

Current liabilities

    

Current portion of long-term debt

   $ 2,816      $ 8,405   

Current portion of capital lease obligations

     19,564        18,780   

Current income tax payable

     12,370        7,332   

Current liability for uncertain tax positions

     10,509        9,155   

Accounts payable and accrued expenses

     381,078        396,121   
  

 

 

   

 

 

 

Total current liabilities

     426,337        439,793   

Long-term liabilities

    

Long-term debt, less current portion

     1,786,576        1,772,930   

Capital lease obligations, less current portion

     212,752        208,952   

Long-term deferred tax liability

     142,682        139,905   

Long-term liability for uncertain tax positions

     7,960        7,853   

Deferred lease expenses

     42,752        43,333   

Deferred revenue - NCM

     348,657        342,134   

Other long-term liabilities

     47,911        60,784   
  

 

 

   

 

 

 

Total long-term liabilities

     2,589,290        2,575,891   

Commitments and contingencies (see Note 16)

    

Equity

    

Cinemark Holdings, Inc.’s stockholders’ equity:

    

Common stock, $0.001 par value: 300,000,000 shares authorized, 120,644,247 shares issued and 116,223,640 shares outstanding at June 30, 2016 and 120,107,563 shares issued and 115,924,059 shares outstanding at December 31, 2015

     121        120   

Additional paid-in-capital

     1,122,664        1,113,219   

Treasury stock, 4,420,607 and 4,183,504 shares, at cost, at June 30, 2016 and December 31, 2015, respectively

     (73,379     (66,577

Retained earnings

     374,059        324,632   

Accumulated other comprehensive loss

     (234,992     (271,686
  

 

 

   

 

 

 

Total Cinemark Holdings, Inc.’s stockholders’ equity

     1,188,473        1,099,708   

Noncontrolling interests

     11,593        11,105   

Total equity

     1,200,066        1,110,813   
  

 

 

   

 

 

 

Total liabilities and equity

   $ 4,215,693      $ 4,126,497   
  

 

 

   

 

 

 

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

 

 

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