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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

CINEMARK HOLDINGS, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF INCOME

YEARS ENDED DECEMBER 31, 2011, 2012 AND 2013

(In thousands, except per share data)

 

     2011     2012     2013  

Revenues

      

Admissions

   $ 1,471,627      $ 1,580,401      $ 1,706,145   

Concession

     696,754        771,405        845,168   

Other

     111,232        121,725        131,581   
  

 

 

   

 

 

   

 

 

 

Total revenues

     2,279,613        2,473,531        2,682,894   

Cost of operations

      

Film rentals and advertising

     798,606        845,107        919,511   

Concession supplies

     112,122        123,471        135,715   

Salaries and wages

     226,475        247,468        269,353   

Facility lease expense

     276,278        281,615        307,851   

Utilities and other

     259,703        280,670        305,703   

General and administrative expenses

     127,621        148,624        165,351   

Depreciation and amortization

     154,449        147,675        163,970   

Impairment of long-lived assets

     7,033        3,031        3,794   

(Gain) loss on sale of assets and other

     8,792        12,168        (3,845
  

 

 

   

 

 

   

 

 

 

Total cost of operations

     1,971,079        2,089,829        2,267,403   
  

 

 

   

 

 

   

 

 

 

Operating income

     308,534        383,702        415,491   

Other income (expense)

      

Interest expense

     (123,102     (123,665     (124,714

Interest income

     8,108        6,373        3,622   

Foreign currency exchange gain (loss)

     (219     2,086        (1,616

Loss on early retirement of debt

     (4,945     (5,599     (72,302

Distributions from NCM

     24,161        20,812        20,701   

Dividend income

     54        —          —     

Loss on marketable securities — RealD

     (12,610     —          —     

Equity in income of affiliates

     5,651        13,109        22,682   
  

 

 

   

 

 

   

 

 

 

Total other expense

     (102,902     (86,884     (151,627
  

 

 

   

 

 

   

 

 

 

Income before income taxes

     205,632        296,818        263,864   

Income taxes

     73,050        125,398        113,316   
  

 

 

   

 

 

   

 

 

 

Net income

     132,582        171,420        150,548   

Less: Net income attributable to noncontrolling interests

     2,025        2,471        2,078   
  

 

 

   

 

 

   

 

 

 

Net income attributable to Cinemark Holdings, Inc.

   $ 130,557      $ 168,949      $ 148,470   
  

 

 

   

 

 

   

 

 

 

Weighted average shares outstanding

      

Basic

     112,736        113,216        113,896   
  

 

 

   

 

 

   

 

 

 

Diluted

     113,224        113,824        114,396   
  

 

 

   

 

 

   

 

 

 

Earnings per share attributable to Cinemark Holdings, Inc.’s common stockholders:

      

Basic

   $ 1.15      $ 1.47      $ 1.28   
  

 

 

   

 

 

   

 

 

 

Diluted

   $ 1.14      $ 1.47      $ 1.28   
  

 

 

   

 

 

   

 

 

 

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

 

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