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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 CASH FLOWS

(in thousands, unaudited)

 

 

 

Three Months Ended March 31,

 

 

 

2018

 

 

2017

 

Operating activities

 

 

 

 

 

 

 

 

Net income

 

$

62,177

 

 

$

80,194

 

Adjustments to reconcile net income to cash provided by operating activities:

 

 

 

 

 

 

 

 

Depreciation

 

 

63,514

 

 

 

56,975

 

Amortization of intangible and other assets and favorable/unfavorable leases

 

 

881

 

 

 

381

 

Amortization of long-term prepaid rents

 

 

639

 

 

 

493

 

Amortization of debt issue costs

 

 

1,590

 

 

 

1,529

 

Loss on debt amendments

 

 

1,484

 

 

 

 

Amortization of deferred revenues, deferred lease incentives and other

 

 

(5,343

)

 

 

(3,822

)

Impairment of long-lived assets

 

 

591

 

 

 

273

 

Share based awards compensation expense

 

 

3,426

 

 

 

3,241

 

Loss on sale of assets and other

 

 

3,939

 

 

 

834

 

Deferred lease expenses

 

 

(483

)

 

 

(347

)

Equity in income of affiliates

 

 

(8,636

)

 

 

(10,060

)

Deferred income tax expenses

 

 

(72

)

 

 

8,889

 

Distributions from equity investees

 

 

12,323

 

 

 

12,049

 

Changes in assets and liabilities and other

 

 

(52,378

)

 

 

(64

)

Net cash provided by operating activities

 

 

83,652

 

 

 

150,565

 

 

 

 

 

 

 

 

 

 

Investing activities

 

 

 

 

 

 

 

 

Additions to theatre properties and equipment

 

 

(80,163

)

 

 

(91,187

)

Proceeds from sale of theatre properties and equipment and other

 

 

477

 

 

 

3,835

 

(Investment in) return of investment from joint ventures and other, net

 

 

764

 

 

 

(228

)

Net cash used for investing activities

 

 

(78,922

)

 

 

(87,580

)

 

 

 

 

 

 

 

 

 

Financing activities

 

 

 

 

 

 

 

 

Dividends paid to stockholders

 

 

(37,346

)

 

 

(33,760

)

Payroll taxes paid as a result of restricted stock withholdings

 

 

(2,695

)

 

 

(2,694

)

Repayments of long-term debt

 

 

(1,649

)

 

 

 

Payment of debt issue costs

 

 

(4,962

)

 

 

 

Fees paid related to debt amendments

 

 

(704

)

 

 

 

Payments on capital leases

 

 

(6,090

)

 

 

(4,989

)

Other

 

 

 

 

 

(294

)

Net cash used for financing activities

 

 

(53,446

)

 

 

(41,737

)

 

 

 

 

 

 

 

 

 

Effect of exchange rate changes on cash and cash equivalents

 

 

215

 

 

 

1,835

 

 

 

 

 

 

 

 

 

 

Increase (decrease) in cash and cash equivalents

 

 

(48,501

)

 

 

23,083

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents:

 

 

 

 

 

 

 

 

Beginning of period

 

 

522,547

 

 

 

561,235

 

End of period

 

$

474,046

 

 

$

584,318

 

 

 

 

 

 

 

 

 

 

Supplemental information (see Note 14)

 

 

 

 

 

 

 

 

 

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

 

 

 

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