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SEC Filings

10-K
CINEMARK HOLDINGS, INC. filed this Form 10-K on 02/28/2014
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Table of Contents

CINEMARK HOLDINGS, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

In thousands, except share and per share data

 

during the year ended December 31, 2013 was approximately $8,723. The Company recognized a tax benefit of approximately $3,663 during the year ended December 31, 2013 related to these vested awards.

The Company recorded total compensation expense of $3,101, $4,433 and $4,148 related to these restricted stock unit awards during the years ended December 31, 2011, 2012 and 2013, respectively. As of December 31, 2013, the Company had restricted stock units outstanding that represented a total of 802,529 hypothetical shares of common stock, net of actual cumulative forfeitures of 11,498 units, assuming the maximum IRR of at least 12.5% is achieved for all of the outstanding restricted stock unit awards. As of December 31, 2013, the remaining unrecognized compensation expense related to the outstanding restricted stock unit awards was $4,048, which assumes the high-point IRR level will be achieved for the 2010 and 2011 grants and the mid-point IRR level will be achieved for the 2012 and 2013 grants. The weighted average period over which this remaining compensation expense will be recognized is approximately one year.

 

19. SUPPLEMENTAL CASH FLOW INFORMATION

The following is provided as supplemental information to the consolidated statements of cash flows:

 

     Year Ended December 31,  
     2011     2012     2013  

Cash paid for interest

   $ 113,084      $ 117,172      $ 116,890   

Cash paid for income taxes, net of refunds received

   $ 29,106      $ 89,034      $ 136,124   

Noncash investing and financing activities:

      

Change in accounts payable and accrued expenses for the acquisition of theatre properties and equipment (1)

   $ 7,349      $ (13,827   $ 7,325   

Theatre properties and equipment acquired under capital lease

   $ 6,696      $ 18,754      $ 69,541   

Change in fair market values of interest rate swap agreements, net of taxes

   $ 4,867      $ 1,827      $ 3,151   

Investment in NCM — receipt of common units (See Note 6)

   $ 9,302      $ 9,137      $ 98,797   

Dividends accrued on unvested restricted stock unit awards

   $ (684   $ (894   $ (772

Investment in RealD (See Note 8)

   $ 3,402      $ —        $ —     

Investment in AC JV, LLC (see Note 16)

   $ —        $ —        $ 8,333   

Issuance of promissory note related to investment in AC JV, LLC (see Note 16)

   $ —        $ —        $ (8,333

Change in fair market value of available-for-sale securities, net of taxes (See Note 8)

   $ (13,566   $ 2,499      $ (2,042

 

(1) 

Additions to theatre properties and equipment included in accounts payable as of December 31, 2012 and 2013 were $4,685 and $12,010, respectively.

 

20. INCOME TAXES

Income before income taxes consisted of the following:

 

     Year Ended December 31,  
     2011      2012      2013  

Income before income taxes:

        

U.S.

   $ 114,692       $ 183,207       $ 162,687   

Foreign

     90,940         113,611         101,177   
  

 

 

    

 

 

    

 

 

 

Total

   $ 205,632       $ 296,818       $ 263,864   
  

 

 

    

 

 

    

 

 

 

 

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