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SEC Filings

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

 

PART I - FINANCIAL INFORMATION

 

Item 1.Financial Statements

CINEMARK HOLDINGS, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands, except share data, unaudited)

 

 

 

September 30,

 

 

December 31,

 

 

 

2017

 

 

2016

 

Assets

 

 

 

 

 

 

 

 

Current assets

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

469,446

 

 

$

561,235

 

Inventories

 

 

16,844

 

 

 

16,961

 

Accounts receivable

 

 

82,650

 

 

 

74,993

 

Current income tax receivable

 

 

4,381

 

 

 

7,367

 

Prepaid expenses and other

 

 

17,010

 

 

 

15,761

 

Total current assets

 

 

590,331

 

 

 

676,317

 

 

 

 

 

 

 

 

 

 

Theatre properties and equipment

 

 

3,268,653

 

 

 

3,059,754

 

Less: accumulated depreciation and amortization

 

 

1,477,047

 

 

 

1,355,218

 

Theatre properties and equipment, net

 

 

1,791,606

 

 

 

1,704,536

 

 

 

 

 

 

 

 

 

 

Other assets

 

 

 

 

 

 

 

 

Goodwill

 

 

1,294,342

 

 

 

1,262,963

 

Intangible assets - net

 

 

335,657

 

 

 

334,899

 

Investment in NCM

 

 

204,347

 

 

 

189,995

 

Investments in and advances to affiliates

 

 

112,878

 

 

 

98,317

 

Long-term deferred tax asset

 

 

2,098

 

 

 

2,051

 

Deferred charges and other assets - net

 

 

40,391

 

 

 

37,555

 

Total other assets

 

 

1,989,713

 

 

 

1,925,780

 

 

 

 

 

 

 

 

 

 

Total assets

 

$

4,371,650

 

 

$

4,306,633

 

 

 

 

 

 

 

 

 

 

Liabilities and equity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current liabilities

 

 

 

 

 

 

 

 

Current portion of long-term debt

 

$

7,099

 

 

$

5,671

 

Current portion of capital lease obligations

 

 

24,836

 

 

 

21,139

 

Current income tax payable

 

 

7,893

 

 

 

5,071

 

Current liability for uncertain tax positions

 

 

11,714

 

 

 

10,085

 

Accounts payable and accrued expenses

 

 

341,132

 

 

 

401,259

 

Total current liabilities

 

 

392,674

 

 

 

443,225

 

 

 

 

 

 

 

 

 

 

Long-term liabilities

 

 

 

 

 

 

 

 

Long-term debt, less current portion

 

 

1,781,952

 

 

 

1,782,441

 

Capital lease obligations, less current portion

 

 

252,047

 

 

 

234,281

 

Long-term deferred tax liability

 

 

144,740

 

 

 

135,014

 

Long-term liability for uncertain tax positions

 

 

7,801

 

 

 

8,105

 

Deferred lease expenses

 

 

41,291

 

 

 

42,378

 

Deferred revenue - NCM

 

 

354,419

 

 

 

343,928

 

Other long-term liabilities

 

 

44,906

 

 

 

44,301

 

Total long-term liabilities

 

 

2,627,156

 

 

 

2,590,448

 

 

 

 

 

 

 

 

 

 

Commitments and contingencies (see Note 16)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Equity

 

 

 

 

 

 

 

 

Cinemark Holdings, Inc.'s stockholders' equity:

 

 

 

 

 

 

 

 

Common stock, $0.001 par value: 300,000,000 shares

   authorized, 120,992,302 shares issued and 116,467,227 shares outstanding

   at September 30, 2017 and 120,657,254 shares issued and 116,210,252 shares

   outstanding at December 31, 2016

 

 

121

 

 

 

121

 

Additional paid-in-capital

 

 

1,137,897

 

 

 

1,128,442

 

Treasury stock, 4,525,075 and 4,447,002 shares, at cost, at September 30, 2017

   and December 31, 2016, respectively

 

 

(76,354

)

 

 

(73,411

)

Retained earnings

 

 

521,058

 

 

 

453,679

 

Accumulated other comprehensive loss

 

 

(242,894

)

 

 

(247,013

)

Total Cinemark Holdings, Inc.'s stockholders' equity

 

 

1,339,828

 

 

 

1,261,818

 

Noncontrolling interests

 

 

11,992

 

 

 

11,142

 

Total equity

 

 

1,351,820

 

 

 

1,272,960

 

 

 

 

 

 

 

 

 

 

Total liabilities and equity

 

$

4,371,650

 

 

$

4,306,633

 

 

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

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