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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

Results of Operations

The following table sets forth, for the periods indicated, the amounts for certain items reflected in our consolidated statements of income along with each of those items as a percentage of revenues. During August 2011, we acquired ten theatres with 95 screens in Argentina and during May 2013, we acquired 32 theatres with 483 screens in the U.S. The results of operations for these theatres are included in our consolidated results of operations beginning on the dates of the respective acquisitions.

 

     Year Ended December 31,  
     2011     2012     2013  

Operating data (in millions):

      

Revenues

      

Admissions

   $ 1,471.6      $ 1,580.4      $ 1,706.1   

Concession

     696.8        771.4        845.2   

Other

     111.2        121.7        131.6   
  

 

 

   

 

 

   

 

 

 

Total revenues

     2,279.6        2,473.5        2,682.9   

Cost of operations

      

Film rentals and advertising

     798.6        845.1        919.5   

Concession supplies

     112.1        123.5        135.7   

Salaries and wages

     226.5        247.4        269.3   

Facility lease expense

     276.3        281.6        307.9   

Utilities and other

     259.7        280.7        305.7   

General and administrative expenses

     127.6        148.6        165.4   

Depreciation and amortization

     154.4        147.7        164.0   

Impairment of long-lived assets

     7.0        3.0        3.8   

(Gain) loss on sale of assets and other

     8.8        12.2        (3.9
  

 

 

   

 

 

   

 

 

 

Total cost of operations

     1,971.0        2,089.8        2,267.4   
  

 

 

   

 

 

   

 

 

 

Operating income

   $ 308.6      $ 383.7      $ 415.5   
  

 

 

   

 

 

   

 

 

 

Operating data as a percentage of total revenues:

      

Revenues

      

Admissions

     64.6     63.9     63.6

Concession

     30.6     31.2     31.5

Other

     4.8     4.9     4.9
  

 

 

   

 

 

   

 

 

 

Total revenues

     100.0     100.0     100.0
  

 

 

   

 

 

   

 

 

 

Cost of operations (1)

      

Film rentals and advertising

     54.3     53.5     53.9

Concession supplies

     16.1     16.0     16.1

Salaries and wages

     9.9     10.0     10.0

Facility lease expense

     12.1     11.4     11.5

Utilities and other

     11.4     11.3     11.4

General and administrative expenses

     5.6     6.0     6.2

Depreciation and amortization

     6.8     6.0     6.1

Impairment of long-lived assets

     0.3     0.1     0.1

(Gain) loss on sale of assets and other

     0.4     0.5     (0.1 %) 

Total cost of operations

     86.5     84.5     84.5

Operating income

     13.5     15.5     15.5
  

 

 

   

 

 

   

 

 

 

Average screen count (month end average)

     5,021        5,198        5,548   
  

 

 

   

 

 

   

 

 

 

Revenues per average screen (dollars)

   $ 454,051      $ 475,897      $ 483,579   
  

 

 

   

 

 

   

 

 

 

 

 

(1) 

All costs are expressed as a percentage of total revenues, except film rentals and advertising, which are expressed as a percentage of admissions revenues and concession supplies, which are expressed as a percentage of concession revenues.

 

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