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SEC Filings

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

 

CINEMARK HOLDINGS, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands, unaudited)

 

 

 

Nine Months Ended September 30,

 

 

 

2017

 

 

2016

 

Operating activities

 

 

 

 

 

 

 

 

Net income

 

$

170,544

 

 

$

179,540

 

Adjustments to reconcile net income to cash provided by operating

   activities:

 

 

 

 

 

 

 

 

Depreciation

 

 

173,378

 

 

 

154,308

 

Amortization of intangible and other assets and

   favorable/unfavorable leases

 

 

1,167

 

 

 

1,566

 

Amortization of long-term prepaid rents

 

 

1,540

 

 

 

1,357

 

Amortization of debt issue costs

 

 

4,619

 

 

 

4,068

 

Amortization of deferred revenues, deferred lease incentives

   and other

 

 

(12,037

)

 

 

(13,017

)

Impairment of long-lived assets

 

 

9,600

 

 

 

2,323

 

Share based awards compensation expense

 

 

9,487

 

 

 

10,247

 

Loss on sale of assets and other

 

 

9,464

 

 

 

10,985

 

Write-off of unamortized debt issue costs associated with early

   retirement of debt

 

 

 

 

 

2,369

 

Deferred lease expenses

 

 

(1,019

)

 

 

(809

)

Equity in income of affiliates

 

 

(26,767

)

 

 

(24,597

)

Deferred income tax expenses

 

 

9,541

 

 

 

16,382

 

Distributions from equity investees

 

 

17,321

 

 

 

9,660

 

Changes in assets and liabilities and other

 

 

(55,433

)

 

 

(76,102

)

Net cash provided by operating activities

 

 

311,405

 

 

 

278,280

 

 

 

 

 

 

 

 

 

 

Investing activities

 

 

 

 

 

 

 

 

Additions to theatre properties and equipment and other

 

 

(262,730

)

 

 

(230,346

)

Acquisitions of theatres in the U.S. and international markets

 

 

(41,000

)

 

 

(15,300

)

Proceeds from sale of theatre properties and equipment and other

 

 

14,816

 

 

 

3,398

 

Proceeds from sale of marketable securities

 

 

 

 

 

13,451

 

Investment in joint ventures and other

 

 

(1,178

)

 

 

(1,703

)

Net cash used for investing activities

 

 

(290,092

)

 

 

(230,500

)

 

 

 

 

 

 

 

 

 

Financing activities

 

 

 

 

 

 

 

 

Dividends paid to stockholders

 

 

(101,304

)

 

 

(94,117

)

Payroll taxes paid as a result of restricted stock withholdings

 

 

(2,943

)

 

 

(6,828

)

Proceeds from issuance of Senior Notes, net of discount

 

 

 

 

 

222,750

 

Retirement of Senior Subordinated Notes

 

 

 

 

 

(200,000

)

Repayments of long-term debt

 

 

(2,855

)

 

 

(15,217

)

Payment of debt issue costs

 

 

(817

)

 

 

(4,504

)

Payments on capital leases

 

 

(15,814

)

 

 

(14,655

)

Proceeds from financing lease

 

 

10,200

 

 

 

 

Other

 

 

(620

)

 

 

1,282

 

Net cash used for financing activities

 

 

(114,153

)

 

 

(111,289

)

 

 

 

 

 

 

 

 

 

Effect of exchange rate changes on cash and cash equivalents

 

 

1,051

 

 

 

2,081

 

 

 

 

 

 

 

 

 

 

Decrease in cash and cash equivalents

 

 

(91,789

)

 

 

(61,428

)

 

 

 

 

 

 

 

 

 

Cash and cash equivalents:

 

 

 

 

 

 

 

 

Beginning of period

 

 

561,235

 

 

 

588,539

 

End of period

 

$

469,446

 

 

$

527,111

 

 

 

 

 

 

 

 

 

 

Supplemental information (see Note 13)

 

 

 

 

 

 

 

 

 

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

 

 

 

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