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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.

NOTES TO PARENT COMPANY FINANCIAL STATEMENTS

In thousands, except share and per share data

 

1. BASIS OF PRESENTATION

Cinemark Holdings, Inc. conducts substantially all of its operations through its subsidiaries. These statements should be read in conjunction with the Company’s consolidated statements and notes included elsewhere in this annual report on Form 10-K. There are significant restrictions over Cinemark Holdings, Inc.’s ability to obtain funds from its subsidiaries through dividends, loans or advances as contained in Cinemark USA, Inc.’s amended senior secured credit facility and the indentures to each of the 4.875% Senior Notes, the 5.125% Senior Notes and the 7.375% Senior Subordinated Notes (collectively referred to herein as the “Notes”). These condensed parent company financial statements have been prepared in accordance with Rule 12-04, Schedule I of Regulation S-X, as the restricted net assets of Cinemark Holdings, Inc.’s subsidiaries under each of the debt agreements previously noted exceeds 25 percent of the consolidated net assets of Cinemark Holdings, Inc. As of December 31, 2013, the restricted net assets totaled approximately $792,605 and $1,007,893 under the amended senior secured credit facility and the Notes, respectively. See Note 12 to the Company’s consolidated financial statements included elsewhere in this annual report on Form 10-K.

 

2. DIVIDEND PAYMENTS

Below is a summary of dividends declared for the fiscal periods indicated.

 

Date

Declared

 

Date of

Record

 

Date

Paid

 

Amount per

Common

Share (2)

 

Total

Dividends (1)

02/24/11

  03/04/11   03/16/11   $0.21   $24,056

05/12/11

  06/06/11   06/17/11   $0.21   24,152

08/04/11

  08/17/11   09/01/11   $0.21   24,157

11/03/11

  11/18/11   12/07/11   $0.21   24,157
       

 

Total — Year ended December 31, 2011

  $96,522
       

 

02/03/12

  03/02/12   03/16/12   $0.21   $24,141

05/11/12

  06/04/12   06/19/12   $0.21   24,274

08/08/12

  08/21/12   09/05/12   $0.21   24,281

11/06/12

  11/21/12   12/07/12   $0.21   24,565
       

 

Total — Year ended December 31, 2012

  $97,261
       

 

02/12/13

  03/04/13   03/15/13   $0.21   $24,325

05/24/13

  06/06/13   06/20/13   $0.21   24,348

08/15/13

  08/28/13   09/12/13   $0.25   28,992

11/19/13

  12/02/13   12/11/13   $0.25   29,152
       

 

Total — Year ended December 31, 2013

  $106,817
       

 

 

(1) 

Of the dividends recorded during 2011, 2012 and 2013, $684, $894 and $772, respectively, were related to outstanding restricted stock units and will not be paid until such units vest. See Note 19 to the Company’s consolidated financial statements included elsewhere in this annual report on Form 10-K.

(2) 

Beginning with the dividend declared on August 15, 2013, the Company’s board of directors raised the quarterly dividend to $0.25 per common share.

 

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