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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.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

In thousands, except share and per share data

 

Summary of Activity with NCM

Below is a summary of activity with NCM included in the Company’s consolidated financial statements for the periods indicated. See Note 2 for discussion of impact of new revenue recognition accounting pronouncements.

 

 

 

Investment

 

 

Deferred

 

 

Distributions from

 

 

Equity

in

 

 

Other

 

 

Other Comprehensive

 

 

Cash

 

 

 

in NCM

 

 

Revenue

 

 

NCM

 

 

Earnings

 

 

Revenue

 

 

Loss

 

 

Received

 

Balance as of January 1, 2015

 

$

178,939

 

 

$

(335,219

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Receipt of common units due to annual common unit adjustment

 

 

15,421

 

 

 

(15,421

)

 

$

 

 

$

 

 

$

 

 

$

 

 

$

 

Revenues earned under ESA (1)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(11,330

)

 

 

 

 

 

11,330

 

Receipt of excess cash distributions

 

 

(14,072

)

 

 

 

 

 

(15,396

)

 

 

 

 

 

 

 

 

 

 

 

29,468

 

Receipt under tax receivable agreement

 

 

(2,308

)

 

 

 

 

 

(2,744

)

 

 

 

 

 

 

 

 

 

 

 

5,052

 

Equity in earnings

 

 

8,510

 

 

 

 

 

 

 

 

 

(8,510

)

 

 

 

 

 

 

 

 

 

Equity in other comprehensive loss

 

 

(2,735

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2,735

 

 

 

 

 

Amortization of deferred revenue

 

 

 

 

 

8,506

 

 

 

 

 

 

 

 

 

(8,506

)

 

 

 

 

 

 

Balance as of and for the twelve months ended December 31, 2015

 

$

183,755

 

 

$

(342,134

)

 

$

(18,140

)

 

$

(8,510

)

 

$

(19,836

)

 

$

2,735

 

 

$

45,850

 

Receipt of common units due to annual common unit adjustment

 

 

11,111

 

 

 

(11,111

)

 

$

 

 

$

 

 

$

 

 

$

 

 

$

 

Revenues earned under ESA (1)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(11,048

)

 

 

 

 

 

11,048

 

Receipt of excess cash distributions

 

 

(11,233

)

 

 

 

 

 

(11,483

)

 

 

 

 

 

 

 

 

 

 

 

22,716

 

Receipt under tax receivable agreement

 

 

(2,985

)

 

 

 

 

 

(3,173

)

 

 

 

 

 

 

 

 

 

 

 

6,158

 

Equity in earnings

 

 

9,347

 

 

 

 

 

 

 

 

 

(9,347

)

 

 

 

 

 

 

 

 

 

Amortization of deferred revenue

 

 

 

 

 

9,317

 

 

 

 

 

 

 

 

 

(9,317

)

 

 

 

 

 

 

Balance as of and for the twelve months ended December 31, 2016

 

$

189,995

 

 

$

(343,928

)

 

$

(14,656

)

 

$

(9,347

)

 

$

(20,365

)

 

$

 

 

$

39,922

 

Receipt of common units due to annual common unit adjustment

 

 

18,363

 

 

 

(18,363

)

 

$

 

 

$

 

 

$

 

 

$

 

 

$

 

Revenues earned under ESA (1)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(11,274

)

 

 

 

 

 

11,274

 

Receipt of excess cash distributions

 

 

(15,093

)

 

 

 

 

 

(14,158

)

 

 

 

 

 

 

 

 

 

 

 

29,251

 

Receipt under tax receivable agreement

 

 

(2,265

)

 

 

 

 

 

(2,249

)

 

 

 

 

 

 

 

 

 

 

 

4,514

 

Equity in earnings

 

 

9,550

 

 

 

 

 

 

 

 

 

(9,550

)

 

 

 

 

 

 

 

 

 

Amortization of deferred revenue

 

 

 

 

 

10,585

 

 

 

 

 

 

 

 

 

(10,585

)

 

 

 

 

 

 

Balance as of and for the twelve months ended December 31, 2017

 

$

200,550

 

 

$

(351,706

)

 

$

(16,407

)

 

$

(9,550

)

 

$

(21,859

)

 

$

 

 

$

45,039

 

 

(1)

Amounts include the per patron and per digital screen theatre access fees due to the Company, net of amounts due to NCM for on-screen advertising time provided to the Company’s beverage concessionaire. The amounts due to NCM for on-screen advertising time provided to the Company’s beverage concessionaire were approximately $9,819, $10,523 and $11,110 for the years ended December 31, 2015, 2016 and 2017, respectively.

The Company made payments to NCM of approximately $50, $49 and $102 during the years ended December 31, 2015, 2016 and 2017, respectively, related to installation of certain equipment used for digital advertising, which is included in theatre furniture and equipment on the consolidated balance sheets.  

F-19