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SEC Filings

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

 

PART I - FINANCIAL INFORMATION

 

Item 1.Financial Statements

CINEMARK HOLDINGS, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands, except share data, unaudited)

 

 

 

March 31,

 

 

December 31,

 

 

 

2018

 

 

2017

 

Assets

 

 

 

 

 

 

 

 

Current assets

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

474,046

 

 

$

522,547

 

Inventories

 

 

17,083

 

 

 

17,507

 

Accounts receivable

 

 

78,211

 

 

 

89,250

 

Current income tax receivable

 

 

2,991

 

 

 

11,730

 

Prepaid expenses and other

 

 

19,409

 

 

 

16,536

 

Total current assets

 

 

591,740

 

 

 

657,570

 

 

 

 

 

 

 

 

 

 

Theatre properties and equipment

 

 

3,387,494

 

 

 

3,328,589

 

Less: accumulated depreciation and amortization

 

 

1,551,842

 

 

 

1,500,535

 

Theatre properties and equipment, net

 

 

1,835,652

 

 

 

1,828,054

 

 

 

 

 

 

 

 

 

 

Other assets

 

 

 

 

 

 

 

 

Goodwill

 

 

1,283,945

 

 

 

1,284,079

 

Intangible assets - net

 

 

335,164

 

 

 

336,761

 

Investment in NCM

 

 

202,455

 

 

 

200,550

 

Investments in and advances to affiliates

 

 

118,789

 

 

 

120,045

 

Long-term deferred tax asset

 

 

4,103

 

 

 

4,067

 

Deferred charges and other assets - net

 

 

41,623

 

 

 

39,767

 

Total other assets

 

 

1,986,079

 

 

 

1,985,269

 

 

 

 

 

 

 

 

 

 

Total assets

 

$

4,413,471

 

 

$

4,470,893

 

 

 

 

 

 

 

 

 

 

Liabilities and equity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current liabilities

 

 

 

 

 

 

 

 

Current portion of long-term debt

 

$

7,984

 

 

$

7,099

 

Current portion of capital lease obligations

 

 

26,231

 

 

 

25,511

 

Current income tax payable

 

 

11,058

 

 

 

5,509

 

Current liability for uncertain tax positions

 

 

12,353

 

 

 

11,873

 

Accounts payable and accrued expenses

 

 

329,723

 

 

 

418,921

 

Total current liabilities

 

 

387,349

 

 

 

468,913

 

 

 

 

 

 

 

 

 

 

Long-term liabilities

 

 

 

 

 

 

 

 

Long-term debt, less current portion

 

 

1,775,252

 

 

 

1,780,381

 

Capital lease obligations, less current portion

 

 

245,798

 

 

 

251,151

 

Long-term deferred tax liability

 

 

134,732

 

 

 

121,787

 

Long-term liability for uncertain tax positions

 

 

13,258

 

 

 

8,358

 

Deferred lease expenses

 

 

40,489

 

 

 

40,929

 

Deferred revenue - NCM

 

 

299,222

 

 

 

351,706

 

Other long-term liabilities

 

 

45,380

 

 

 

41,980

 

Total long-term liabilities

 

 

2,554,131

 

 

 

2,596,292

 

 

 

 

 

 

 

 

 

 

Commitments and contingencies (see Note 17)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Equity

 

 

 

 

 

 

 

 

Cinemark Holdings, Inc.'s stockholders' equity:

 

 

 

 

 

 

 

 

Common stock, $0.001 par value: 300,000,000 shares

   authorized, 121,385,985 shares issued and 116,778,802 shares outstanding

   at March 31, 2018 and 121,000,903 shares issued and 116,475,033 shares

   outstanding at December 31, 2017

 

 

121

 

 

 

121

 

Additional paid-in-capital

 

 

1,144,514

 

 

 

1,141,088

 

Treasury stock, 4,607,183 and 4,525,870 shares, at cost, at March 31, 2018

   and December 31, 2017, respectively

 

 

(79,049

)

 

 

(76,354

)

Retained earnings

 

 

647,298

 

 

 

582,222

 

Accumulated other comprehensive loss

 

 

(252,942

)

 

 

(253,282

)

Total Cinemark Holdings, Inc.'s stockholders' equity

 

 

1,459,942

 

 

 

1,393,795

 

Noncontrolling interests

 

 

12,049

 

 

 

11,893

 

Total equity

 

 

1,471,991

 

 

 

1,405,688

 

 

 

 

 

 

 

 

 

 

Total liabilities and equity

 

$

4,413,471

 

 

$

4,470,893

 

 

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

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