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SEC Filings

10-K
CINEMARK HOLDINGS, INC. filed this Form 10-K on 02/23/2018
Entire Document
 

 

PART I - FINANCIAL INFORMATION

Item 1.  Financial Statement

CINEMARK HOLDINGS, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

(in thousands, except share and per share data)

 

 

 

December 31,

 

 

December 31,

 

 

 

2016

 

 

2017

 

Assets

 

 

 

 

 

 

 

 

Current assets

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

561,235

 

 

$

522,547

 

Inventories

 

 

16,961

 

 

 

17,507

 

Accounts receivable

 

 

74,993

 

 

 

89,250

 

Current income tax receivable

 

 

7,367

 

 

 

11,730

 

Prepaid expenses and other

 

 

15,761

 

 

 

16,536

 

Total current assets

 

 

676,317

 

 

 

657,570

 

Theatre properties and equipment

 

 

 

 

 

 

 

 

Land

 

 

103,080

 

 

 

104,207

 

Buildings

 

 

474,453

 

 

 

490,394

 

Property under capital lease

 

 

383,826

 

 

 

430,764

 

Theatre furniture and equipment

 

 

1,089,040

 

 

 

1,199,702

 

Leasehold interests and improvements

 

 

1,009,355

 

 

 

1,103,522

 

Total

 

 

3,059,754

 

 

 

3,328,589

 

Less: accumulated depreciation and amortization

 

 

1,355,218

 

 

 

1,500,535

 

Theatre properties and equipment, net

 

 

1,704,536

 

 

 

1,828,054

 

Other assets

 

 

 

 

 

 

 

 

Goodwill

 

 

1,262,963

 

 

 

1,284,079

 

Intangible assets - net

 

 

334,899

 

 

 

336,761

 

Investment in NCM

 

 

189,995

 

 

 

200,550

 

Investments in and advances to affiliates

 

 

98,317

 

 

 

120,045

 

Long-term deferred tax asset

 

 

2,051

 

 

 

4,067

 

Deferred charges and other assets - net

 

 

37,555

 

 

 

39,767

 

Total other assets

 

 

1,925,780

 

 

 

1,985,269

 

Total assets

 

$

4,306,633

 

 

$

4,470,893

 

Liabilities and equity

 

 

 

 

 

 

 

 

Current liabilities

 

 

 

 

 

 

 

 

Current portion of long-term debt

 

$

5,671

 

 

$

7,099

 

Current portion of capital lease obligations

 

 

21,139

 

 

 

25,511

 

Current income tax payable

 

 

5,071

 

 

 

5,509

 

Current liability for uncertain tax positions

 

 

10,085

 

 

 

11,873

 

Accounts payable

 

 

110,172

 

 

 

109,984

 

Accrued film rentals

 

 

97,504

 

 

 

106,738

 

Accrued payroll

 

 

49,707

 

 

 

50,349

 

Accrued property taxes

 

 

33,043

 

 

 

31,353

 

Accrued other current liabilities

 

 

110,833

 

 

 

120,497

 

Total current liabilities

 

 

443,225

 

 

 

468,913

 

Long-term liabilities

 

 

 

 

 

 

 

 

Long-term debt, less current portion

 

 

1,782,441

 

 

 

1,780,381

 

Capital lease obligations, less current portion

 

 

234,281

 

 

 

251,151

 

Long-term deferred tax liability

 

 

135,014

 

 

 

121,787

 

Long-term liability for uncertain tax positions

 

 

8,105

 

 

 

8,358

 

Deferred lease expenses

 

 

42,378

 

 

 

40,929

 

Deferred revenue - NCM

 

 

343,928

 

 

 

351,706

 

Other long-term liabilities

 

 

44,301

 

 

 

41,980

 

Total long-term liabilities

 

 

2,590,448

 

 

 

2,596,292

 

Commitments and contingencies (see Note 17)

 

 

 

 

 

 

 

 

Equity

 

 

 

 

 

 

 

 

Cinemark Holdings, Inc.'s stockholders' equity:

 

 

 

 

 

 

 

 

Common stock, $0.001 par value: 300,000,000 shares authorized, 120,657,254 shares issued and 116,210,252 shares outstanding at December 31, 2016 and 121,000,903 shares issued and 116,475,033 shares outstanding at December 31, 2017

 

 

121

 

 

 

121

 

Additional paid-in-capital

 

 

1,128,442

 

 

 

1,141,088

 

Treasury stock, 4,447,002 and 4,525,870 shares, at cost, at December 31, 2016 and December 31, 2017, respectively

 

 

(73,411

)

 

 

(76,354

)

Retained earnings

 

 

453,679

 

 

 

582,222

 

Accumulated other comprehensive loss

 

 

(247,013

)

 

 

(253,282

)

Total Cinemark Holdings, Inc.'s stockholders' equity

 

 

1,261,818

 

 

 

1,393,795

 

Noncontrolling interests

 

 

11,142

 

 

 

11,893

 

Total equity

 

 

1,272,960

 

 

 

1,405,688

 

Total liabilities and equity

 

$

4,306,633

 

 

$

4,470,893

 

 

 

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

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