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SEC Filings

10-Q
CINEMARK HOLDINGS, INC. filed this Form 10-Q on 05/09/2018
Entire Document
 

CINEMARK HOLDINGS, INC. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

In thousands, except share and per share data

 

The above noted changes increased (decreased) admissions, concession and other revenue by ($1,302), ($545) and $27,459, respectively, for the three months ended March 31, 2018.

 

The Company applied the practical expedient to exclude sales and other similar taxes collected from customers from its transaction price for purposes of recording revenues, as such revenues are presented net of such taxes.

 

Disaggregation of Revenue

The following table presents revenues for the three months ended March 31, 2018, disaggregated based on major type of good or service and by reportable operating segment.

 

 

U.S.

 

 

International

 

 

 

 

 

 

 

Operating

 

 

Operating

 

 

 

 

 

Major Goods/Services

 

Segment (1)

 

 

Segment

 

 

Consolidated

 

Admissions revenues

 

$

349,352

 

 

$

103,272

 

 

$

452,624

 

Concession revenues

 

 

203,750

 

 

 

58,022

 

 

 

261,772

 

Screen advertising and promotional revenues

 

 

18,179

 

 

 

14,269

 

 

 

32,448

 

Other revenues

 

 

25,062

 

 

 

8,065

 

 

 

33,127

 

Total revenues

 

$

596,343

 

 

$

183,628

 

 

$

779,971

 

 

(1)

U.S. segment revenues include eliminations of intercompany transactions with the international operating segment.  See Note 15 for additional information by segment.

The following table presents revenues for the three months ended March 31, 2018, disaggregated based on timing of revenue recognition (see Revenue Recognition Policy above).

 

 

U.S.

 

 

International

 

 

 

 

 

 

 

Operating

 

 

Operating

 

 

 

 

 

 

 

Segment (1)

 

 

Segment

 

 

Consolidated

 

Goods and services transferred at a point in time

 

$

575,826

 

 

$

166,149

 

 

$

741,975

 

Goods and services transferred over time

 

 

20,517

 

 

 

17,479

 

 

 

37,996

 

Total

 

$

596,343

 

 

$

183,628

 

 

$

779,971

 

 

(1)

U.S. segment revenues include eliminations of intercompany transactions with the international operating segment.  See Note 15 for additional information by segment.

Deferred Revenues

The following table presents changes in the Company’s deferred revenues for the three months ended March 31, 2018.  

Deferred Revenues

 

Deferred Revenue - NCM

 

 

Other Deferred Revenues (1)

 

 

Total

 

Balance at January 1, 2018

 

$

351,706

 

 

$

86,498

 

 

$

438,204

 

  Impact of adoption of ASC Topic 606

 

 

(53,605

)

 

 

 

 

 

(53,605

)

  Amounts recognized as accounts receivable

 

 

 

 

 

9,119

 

 

 

9,119

 

  Cash received from customers in advance

 

 

 

 

 

22,271

 

 

 

22,271

 

  Common units received from NCM (see Note 7)

 

 

5,012

 

 

 

 

 

 

5,012

 

  Revenue recognized during period

 

 

(3,891

)

 

 

(33,613

)

 

 

(37,504

)

  Foreign currency translation adjustments

 

 

 

 

 

(75

)

 

 

(75

)

Balance at March 31, 2018

 

$

299,222

 

 

$

84,200

 

 

$

383,422

 

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