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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

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands, unaudited)

 

     Six months ended June 30,  
     2016     2015  

Operating activities

  

Net income

   $ 113,414      $ 113,792   

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

    

Depreciation

     100,655        90,707   

Amortization of intangible and other assets and favorable/unfavorable leases

     1,032        1,194   

Amortization of long-term prepaid rents

     985        1,382   

Amortization of debt issue costs

     2,664        2,600   

Amortization of deferred revenues, deferred lease incentives and other

     (9,339     (6,759

Impairment of long-lived assets

     1,917        4,322   

Share based awards compensation expense

     7,660        6,475   

Loss on sale of assets and other

     4,045        4,352   

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

     2,369        —     

Deferred lease expenses

     (647     (1,288

Equity in income of affiliates

     (12,207     (9,325

Deferred income tax expenses

     2,101        (7,942

Distributions from equity investees

     8,270        8,309   

Changes in assets and liabilities and other

     (21,996     (27,017
  

 

 

   

 

 

 

Net cash provided by operating activities

     200,923        180,802   

Investing activities

    

Additions to theatre properties and equipment and other

     (131,524     (155,712

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

     441        4,973   

Proceeds from sale of marketable securities

     13,451        —     

Investment in joint ventures and other

     (700     (1,777
  

 

 

   

 

 

 

Net cash used for investing activities

     (133,632     (155,167

Financing activities

    

Dividends paid to stockholders

     (62,740     (57,900

Payroll taxes paid as a result of restricted stock withholdings

     (6,802     (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

     (15,217     (3,516

Payment of debt issue costs

     (4,504     (6,957

Payments on capital leases

     (9,529     (7,959

Other

     1,270        1,950   
  

 

 

   

 

 

 

Net cash used for financing activities

     (74,772     (79,130

Effect of exchange rate changes on cash and cash equivalents

     2,542        (9,085
  

 

 

   

 

 

 

Decrease in cash and cash equivalents

     (4,939     (62,580

Cash and cash equivalents:

    

Beginning of period

     588,539        638,869   
  

 

 

   

 

 

 

End of period

   $ 583,600      $ 576,289   
  

 

 

   

 

 

 

Supplemental information (see Note 13)

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

 

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