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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

 

As of December 31, intangible assets-net, consisted of the following:

 

 

 

Balance at

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance at

 

 

 

January 1,

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31,

 

 

 

2016

 

 

Additions (1)

 

 

Amortization

 

 

Other (2)

 

 

2016

 

Intangible assets with finite lives:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross carrying amount

 

$

99,968

 

 

$

503

 

 

$

 

 

$

(675

)

 

$

99,796

 

Accumulated amortization

 

 

(59,706

)

 

 

 

 

(5,538

)

 

 

638

 

 

 

(64,606

)

Total net intangible assets with finite lives

 

$

40,262

 

 

$

503

 

 

$

(5,538

)

 

$

(37

)

 

$

35,190

 

Intangible assets with indefinite lives:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Tradename

 

 

299,382

 

 

 

 

 

 

 

327

 

 

 

299,709

 

Total intangible assets — net

 

$

339,644

 

 

$

503

 

 

$

(5,538

)

 

$

290

 

 

$

334,899

 

 

 

 

Balance at

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance at

 

 

 

January 1,

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31,

 

 

 

2017

 

 

Additions (3)

 

 

Amortization

 

 

Other (2)

 

 

2017

 

Intangible assets with finite lives:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross carrying amount

 

$

99,796

 

 

$

11,584

 

 

$

 

 

$

(5,485

)

 

$

105,895

 

Accumulated amortization

 

 

(64,606

)

 

 

 

 

 

(5,563

)

 

 

1,300

 

 

 

(68,869

)

Total net intangible assets with finite lives

 

$

35,190

 

 

$

11,584

 

 

$

(5,563

)

 

$

(4,185

)

 

$

37,026

 

Intangible assets with indefinite lives:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Tradename

 

 

299,709

 

 

 

 

 

 

 

 

 

26

 

 

 

299,735

 

Total intangible assets — net

 

$

334,899

 

 

$

11,584

 

 

$

(5,563

)

 

$

(4,159

)

 

$

336,761

 

 

(1)

Activity for 2016 reflects addition of non-compete agreement and favorable lease associated with theatres acquired in the U.S.

(2)

Amounts represent foreign currency translation adjustments and the write-off of certain lease intangibles for theatre closures and lease amendments.  

(3)

Amounts represent fair values allocated to intangible assets acquired as part of acquisitions of theatres in the U.S. and international markets.

Estimated aggregate future amortization expense for intangible assets is as follows:

 

For the year ended December 31, 2018

 

$

5,725

 

For the year ended December 31, 2019

 

 

5,267

 

For the year ended December 31, 2020

 

 

5,535

 

For the year ended December 31, 2021

 

 

3,685

 

For the year ended December 31, 2022

 

 

3,280

 

Thereafter

 

 

13,534

 

Total

 

$

37,026

 

 

8.

IMPAIRMENT OF LONG-LIVED ASSETS

The Company reviews long-lived assets for impairment indicators on a quarterly basis or whenever events or changes in circumstances indicate the carrying amount of the assets may not be fully recoverable.  See Note 1 for discussion of the Company’s impairment policy.

F-23