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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

 

The following table sets forth a reconciliation of net income to Adjusted EBITDA:

 

     Year Ended December 31,  
     2011     2012     2013  

Net income

   $ 132,582      $ 171,420      $ 150,548   

Add (deduct):

      

Income taxes

     73,050        125,398        113,316   

Interest expense (1)

     123,102        123,665        124,714   

Loss on early retirement of debt

     4,945        5,599        72,302   

Loss on marketable securities — RealD

     12,610        —          —     

Other income (2)

     (13,594     (21,568     (24,688

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

Deferred lease expenses

     4,155        4,104        5,701   

Amortization of long-term prepaid rents

     2,657        2,673        2,625   

Share based awards compensation expense

     9,692        15,070        16,886   
  

 

 

   

 

 

   

 

 

 

Adjusted EBITDA

   $ 519,473      $ 589,235      $ 625,323   
  

 

 

   

 

 

   

 

 

 

 

(1) 

Includes amortization of debt issue costs.

(2) 

Includes interest income, foreign currency exchange gain (loss), and equity in income of affiliates and excludes distributions from NCM. Distributions from NCM are reported entirely within the U.S. operating segment.

Financial Information About Geographic Areas

Below is a breakdown of select financial information by geographic area:

 

     Year Ended December 31,  
     2011     2012     2013  

Revenues

      

U.S.

   $ 1,593,667      $ 1,706,511      $ 1,912,674   

Brazil

     358,820        328,136        325,762   

Other foreign countries

     337,299        449,527        457,291   

Eliminations

     (10,173     (10,643     (12,833
  

 

 

   

 

 

   

 

 

 

Total

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

 

 

   

 

 

   

 

 

 

 

     December 31,  
     2012      2013  

Theatres properties and equipment, net

     

U.S.

   $ 940,922       $ 1,062,471   

Brazil

     190,990         201,492   

Other foreign countries

     173,046         163,227   
  

 

 

    

 

 

 

Total

   $ 1,304,958       $ 1,427,190   
  

 

 

    

 

 

 

 

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