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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

 

Company’s carrying value of $202,455.  The Company does not believe that the decline in NCM, Inc.’s stock price is other than temporary and therefore, no impairment of the Company’s investment in NCM was recorded during the three months ended March 31, 2018.  The market value of NCM, Inc.’s stock price may change due to the performance of the business, industry trends, general and economic conditions and other factors.  

Below is summary financial information for NCM for the periods indicated:

 

 

 

Three Months Ended

 

 

Three Months Ended

 

 

 

March 29, 2018

 

 

March 30, 2017

 

Gross revenues

 

$

80,200

 

 

$

71,900

 

Operating income

 

$

11,000

 

 

$

5,100

 

Net income (loss)

 

$

(3,000

)

 

$

(7,900

)

 

 

 

As of

 

 

As of

 

 

 

March 29, 2018

 

 

December 28, 2017

 

Current assets

 

$

127,500

 

 

$

174,400

 

Noncurrent assets

 

$

765,400

 

 

$

758,300

 

Current liabilities

 

$

64,500

 

 

$

123,300

 

Noncurrent liabilities

 

$

948,100

 

 

$

925,400

 

Members deficit

 

$

(119,700

)

 

$

(116,000

)

 

 

 

8.

Other Investments

Below is a summary of activity for each of the Company’s other investments for the three months ended March 31, 2018:

 

 

 

DCIP

 

 

AC JV,

LLC

 

 

DCDC

 

 

Other

 

 

Total

 

Balance at January 1, 2018

 

$

106,215

 

 

$

5,916

 

 

$

3,598

 

 

$

4,316

 

 

$

120,045

 

Cash contributions made

 

 

326

 

 

 

 

 

 

 

 

 

78

 

 

 

404

 

Cash distributions received

 

 

(5,201

)

 

 

 

 

 

 

 

 

 

 

 

(5,201

)

Equity in income

 

 

4,142

 

 

 

253

 

 

 

226

 

 

 

 

 

 

4,621

 

Equity in other comprehensive income

 

 

136

 

 

 

 

 

 

 

 

 

 

 

 

136

 

Other

 

 

 

 

 

 

 

 

(1,168

)

 

 

(48

)

 

 

(1,216

)

Balance at March 31, 2018

 

$

105,618

 

 

$

6,169

 

 

$

2,656

 

 

$

4,346

 

 

$

118,789

 

 

Digital Cinema Implementation Partners LLC (“DCIP”)

On February 12, 2007, the Company, AMC and Regal entered into a joint venture known as DCIP to facilitate the implementation of digital cinema in the Company’s theatres and to establish agreements with major motion picture studios for the financing of digital cinema. As of March 31, 2018, the Company had a 33% voting interest in DCIP and a 24.3% economic interest in DCIP. The Company accounts for its investment in DCIP and its subsidiaries under the equity method of accounting.

Below is summary financial information for DCIP for the periods indicated:

 

 

 

Three Months Ended

 

 

 

March 31, 2018

 

 

March 31, 2017

 

Gross revenues

 

$

41,033

 

 

$

45,479

 

Operating income

 

$

23,445

 

 

$

27,934

 

Net income

 

$

21,534

 

 

$

24,142

 

 

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