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SEC Filings

10-Q
CINEMARK HOLDINGS, INC. filed this Form 10-Q on 11/03/2017
Entire Document
 

 

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

 

 

Nine Months Ended

 

 

 

September 30,

 

 

September 30,

 

 

 

2017

 

 

2016

 

 

2017

 

 

2016

 

Operating data (in millions):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenues

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Admissions

 

$

425.1

 

 

$

472.9

 

 

$

1,351.5

 

 

$

1,364.8

 

Concession

 

 

247.1

 

 

 

261.4

 

 

 

777.6

 

 

 

752.8

 

Other

 

 

38.6

 

 

 

34.3

 

 

 

112.5

 

 

 

100.3

 

Total revenues

 

$

710.8

 

 

$

768.6

 

 

$

2,241.6

 

 

$

2,217.9

 

Cost of operations

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Film rentals and advertising

 

 

226.2

 

 

 

249.8

 

 

 

725.6

 

 

 

733.1

 

Concession supplies

 

 

40.2

 

 

 

41.9

 

 

 

124.1

 

 

 

117.0

 

Salaries and wages

 

 

87.3

 

 

 

84.4

 

 

 

261.3

 

 

 

243.8

 

Facility lease expense

 

 

82.0

 

 

 

82.8

 

 

 

248.6

 

 

 

241.9

 

Utilities and other

 

 

92.4

 

 

 

95.0

 

 

 

271.8

 

 

 

265.5

 

General and administrative expenses

 

 

36.9

 

 

 

35.3

 

 

 

113.0

 

 

 

109.2

 

Depreciation and amortization

 

 

58.1

 

 

 

54.2

 

 

 

174.5

 

 

 

155.9

 

Impairment of long-lived assets

 

 

5.0

 

 

 

0.4

 

 

 

9.6

 

 

 

2.3

 

Loss on sale of assets and other

 

 

8.6

 

 

 

7.0

 

 

 

9.5

 

 

 

11.0

 

Total cost of operations

 

 

636.7

 

 

 

650.8

 

 

 

1,938.0

 

 

 

1,879.7

 

Operating income

 

$

74.1

 

 

$

117.8

 

 

$

303.6

 

 

$

338.2

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating data as a percentage of total revenues:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenues

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Admissions

 

 

59.8

%

 

 

61.5

%

 

 

60.3

%

 

 

61.5

%

Concession

 

 

34.8

%

 

 

34.0

%

 

 

34.7

%

 

 

33.9

%

Other

 

 

5.4

%

 

 

4.5

%

 

 

5.0

%

 

 

4.6

%

Total revenues

 

 

100.0

%

 

 

100.0

%

 

 

100.0

%

 

 

100.0

%

Cost of operations (1)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Film rentals and advertising

 

 

53.2

%

 

 

52.8

%

 

 

53.7

%

 

 

53.7

%

Concession supplies

 

 

16.3

%

 

 

16.0

%

 

 

16.0

%

 

 

15.5

%

Salaries and wages

 

 

12.3

%

 

 

11.0

%

 

 

11.7

%

 

 

11.0

%

Facility lease expense

 

 

11.5

%

 

 

10.8

%

 

 

11.1

%

 

 

10.9

%

Utilities and other

 

 

13.0

%

 

 

12.4

%

 

 

12.1

%

 

 

12.0

%

General and administrative expenses

 

 

5.2

%

 

 

4.6

%

 

 

5.0

%

 

 

4.9

%

Depreciation and amortization

 

 

8.2

%

 

 

7.1

%

 

 

7.8

%

 

 

7.0

%

Impairment of long-lived assets

 

 

0.7

%

 

 

0.1

%

 

 

0.4

%

 

 

0.1

%

Loss on sale of assets and other

 

 

1.2

%

 

 

0.9

%

 

 

0.4

%

 

 

0.5

%

Total cost of operations

 

 

89.6

%

 

 

84.7

%

 

 

86.5

%

 

 

84.8

%

Operating income

 

 

10.4

%

 

 

15.3

%

 

 

13.5

%

 

 

15.2

%

Average screen count (month end average)

 

 

5,939

 

 

 

5,880

 

 

 

5,914

 

 

 

5,846

 

Average operating screen count (month end average)

 

 

5,749

 

 

 

5,785

 

 

 

5,764

 

 

 

5,771

 

Revenues per average screen (dollars)

 

$

119,675

 

 

$

130,710

 

 

$

379,025

 

 

$

379,379

 

 

(1)

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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