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SEC Filings

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

 

CINEMARK HOLDINGS, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF INCOME

YEARS ENDED DECEMBER 31, 2015, 2016 AND 2017

(in thousands, except per share data)

 

 

 

2015

 

 

2016

 

 

2017

 

Revenues

 

 

 

 

 

 

 

 

 

 

 

 

Admissions

 

$

1,765,519

 

 

$

1,789,137

 

 

$

1,794,982

 

Concession

 

 

936,970

 

 

 

990,103

 

 

 

1,038,788

 

Other

 

 

150,120

 

 

 

139,525

 

 

 

157,777

 

Total revenues

 

 

2,852,609

 

 

 

2,918,765

 

 

 

2,991,547

 

Cost of operations

 

 

 

 

 

 

 

 

 

 

 

 

Film rentals and advertising

 

 

945,640

 

 

 

962,655

 

 

 

966,510

 

Concession supplies

 

 

144,270

 

 

 

154,469

 

 

 

166,320

 

Salaries and wages

 

 

301,099

 

 

 

325,765

 

 

 

354,510

 

Facility lease expense

 

 

319,761

 

 

 

321,294

 

 

 

328,197

 

Utilities and other

 

 

355,801

 

 

 

355,926

 

 

 

355,041

 

General and administrative expenses

 

 

156,736

 

 

 

143,355

 

 

 

153,278

 

Depreciation and amortization

 

 

189,206

 

 

 

209,071

 

 

 

237,513

 

Impairment of long-lived assets

 

 

8,801

 

 

 

2,836

 

 

 

15,084

 

Loss on sale of assets and other

 

 

8,143

 

 

 

20,459

 

 

 

22,812

 

Total cost of operations

 

 

2,429,457

 

 

 

2,495,830

 

 

 

2,599,265

 

Operating income

 

 

423,152

 

 

 

422,935

 

 

 

392,282

 

Other income (expense)

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

 

(112,741

)

 

 

(108,313

)

 

 

(105,918

)

Loss on debt amendments and refinancing

 

 

(925

)

 

 

(13,445

)

 

 

(521

)

Interest income

 

 

8,708

 

 

 

6,396

 

 

 

6,249

 

Foreign currency exchange gain (loss)

 

 

(16,793

)

 

 

6,455

 

 

 

893

 

Distributions from NCM

 

 

18,140

 

 

 

14,656

 

 

 

16,407

 

Equity in income of affiliates

 

 

28,126

 

 

 

31,962

 

 

 

35,985

 

Total other expense

 

 

(75,485

)

 

 

(62,289

)

 

 

(46,905

)

Income before income taxes

 

 

347,667

 

 

 

360,646

 

 

 

345,377

 

Income taxes

 

 

128,939

 

 

 

103,819

 

 

 

79,358

 

Net income

 

$

218,728

 

 

$

256,827

 

 

$

266,019

 

Less:  Net income attributable to noncontrolling interests

 

 

1,859

 

 

 

1,736

 

 

 

1,839

 

Net income attributable to Cinemark Holdings, Inc.

 

$

216,869

 

 

$

255,091

 

 

$

264,180

 

Weighted average shares outstanding

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 

115,080

 

 

 

115,508

 

 

 

115,766

 

Diluted

 

 

115,399

 

 

 

115,783

 

 

 

116,059

 

Earnings per share attributable to Cinemark Holdings, Inc.'s common stockholders

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

1.87

 

 

$

2.19

 

 

$

2.26

 

Diluted

 

$

1.87

 

 

$

2.19

 

 

$

2.26

 

 

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

F-4