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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

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(in thousands, except per share data, unaudited)

 

 

 

Three Months Ended March 31,

 

 

 

2018

 

 

2017

 

Revenues

 

 

 

 

 

 

 

 

Admissions

 

$

452,624

 

 

$

476,469

 

Concession

 

 

261,772

 

 

 

268,224

 

Other

 

 

65,575

 

 

 

34,917

 

Total revenues

 

 

779,971

 

 

 

779,610

 

 

 

 

 

 

 

 

 

 

Cost of operations

 

 

 

 

 

 

 

 

Film rentals and advertising

 

 

240,915

 

 

 

252,818

 

Concession supplies

 

 

40,824

 

 

 

42,100

 

Salaries and wages

 

 

93,158

 

 

 

84,201

 

Facility lease expense

 

 

82,091

 

 

 

84,262

 

Utilities and other

 

 

109,432

 

 

 

88,357

 

General and administrative expenses

 

 

42,384

 

 

 

38,216

 

Depreciation and amortization

 

 

64,395

 

 

 

57,356

 

Impairment of long-lived assets

 

 

591

 

 

 

273

 

Loss on sale of assets and other

 

 

3,939

 

 

 

834

 

Total cost of operations

 

 

677,729

 

 

 

648,417

 

 

 

 

 

 

 

 

 

 

Operating income

 

 

102,242

 

 

 

131,193

 

 

 

 

 

 

 

 

 

 

Other income (expense)

 

 

 

 

 

 

 

 

Interest expense

 

 

(27,115

)

 

 

(26,369

)

Loss on debt amendments

 

 

(1,484

)

 

 

 

Interest income

 

 

2,238

 

 

 

1,333

 

Foreign currency exchange gain

 

 

1,378

 

 

 

1,589

 

Distributions from NCM

 

 

6,358

 

 

 

6,788

 

Interest expense - NCM

 

 

(4,979

)

 

 

 

Equity in income of affiliates

 

 

8,636

 

 

 

10,060

 

Total other expense

 

 

(14,968

)

 

 

(6,599

)

 

 

 

 

 

 

 

 

 

Income before income taxes

 

 

87,274

 

 

 

124,594

 

Income taxes

 

 

25,097

 

 

 

44,400

 

Net income

 

$

62,177

 

 

$

80,194

 

Less:  Net income attributable to noncontrolling interests

 

 

156

 

 

 

466

 

Net income attributable to Cinemark Holdings, Inc.

 

$

62,021

 

 

$

79,728

 

 

 

 

 

 

 

 

 

 

Weighted average shares outstanding

 

 

 

 

 

 

 

 

Basic

 

 

115,883

 

 

 

115,629

 

Diluted

 

 

116,143

 

 

 

115,915

 

 

 

 

 

 

 

 

 

 

Earnings per share attributable to Cinemark Holdings, Inc.'s

   common stockholders

 

 

 

 

 

 

 

 

Basic

 

$

0.53

 

 

$

0.68

 

Diluted

 

$

0.53

 

 

$

0.68

 

 

 

 

 

 

 

 

 

 

Dividends declared per common share

 

$

0.32

 

 

$

0.29

 

 

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

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