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SEC Filings

10-K
CINEMARK HOLDINGS, INC. filed this Form 10-K on 02/28/2014
Entire Document
 


Table of Contents

We may from time to time, subject to compliance with our debt instruments, purchase our debt securities on the open market depending upon the availability and prices of such securities. Long-term debt consisted of the following as of December 31, 2012 and 2013 (in millions):

 

     December 31, 2012      December 31, 2013  

Cinemark USA, Inc. term loan

   $ 700.0       $ 693.0   

Cinemark USA, Inc. 8.625% senior notes due 2019 (1)

     461.5         —     

Cinemark USA, Inc. 7.375% senior subordinated notes due 2021

     200.0         200.0   

Cinemark USA, Inc. 5.125% senior notes due 2022

     400.0         400.0   

Cinemark USA, Inc. 4.875% senior notes due 2023

     —           530.0   

Other (2)

     2.5         9.8   
  

 

 

    

 

 

 

Total long-term debt

   $ 1,764.0       $ 1,832.8   

Less current portion

     9.5         9.9   
  

 

 

    

 

 

 

Long-term debt, less current portion

   $ 1,754.5       $ 1,822.9   
  

 

 

    

 

 

 

 

(1) 

Includes the $470.0 million aggregate principal amount of the 8.625% senior notes net of the original issue discount, which was $8.5 million as of December 31, 2012. See Note 12 to our consolidated financial statements for discussion of the redemption of these notes during 2013.

(2) 

Balance as of December 31, 2013, includes approximately $8.3 million of debt owed to NCM in relation to the recently-formed joint venture AC JV, LLC. See Note 16 to our consolidated financial statements for further discussion.

As of December 31, 2013, we had $100.0 million in available borrowing capacity on our revolving credit line.

As of December 31, 2013, our long-term debt obligations, scheduled interest payments on long-term debt, future minimum lease obligations under non-cancelable operating and capital leases, scheduled interest payments under capital leases and other obligations for each period indicated are summarized as follows:

 

     Payments Due by Period (in millions)  

Contractual Obligations

   Total      Less Than
One Year
     1 - 3 Years      3 - 5 Years      After
5 Years
 

Long-term debt

   $ 1,832.8       $ 9.9       $ 16.8       $ 16.8       $ 1,789.3   

Scheduled interest payments on long-term debt (1)

   $ 699.3         89.2         177.3         175.9         256.9   

Operating lease obligations

   $ 2,065.1         254.9         503.5         425.1         881.6   

Capital lease obligations

   $ 216.4         13.8         33.5         37.1         132.0   

Scheduled interest payments on capital leases

   $ 110.2         17.4         30.3         23.7         38.8   

Purchase and other commitments (2)

   $ 174.3         107.5         61.7         2.5         2.6   

Current liability for uncertain tax positions (3)

   $ 1.0         1.0         —           —           —     
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Total obligations

   $ 5,099.1       $ 493.7       $ 823.1       $ 681.1       $ 3,101.2   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

 

(1) 

Amounts include scheduled interest payments on fixed rate and variable rate debt agreements. Estimates for the variable rate interest payments were based on interest rates in effect on December 31, 2013. The average interest rates in effect on our fixed rate and variable rate debt are 5.1% and 3.2%, respectively, as of December 31, 2013.

(2) 

Includes estimated capital expenditures associated with the construction of new theatres to which we were committed as of December 31, 2013.

(3) 

The contractual obligations table excludes the long-term portion of our liability for uncertain tax positions of $19.2 million because we cannot make a reliable estimate of the timing of the related cash payments.

Off-Balance Sheet Arrangements

Other than the operating leases and purchase and other commitments disclosed in the tables above, we do not have any off-balance sheet arrangements.

 

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