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

Comparison of Years Ended December 31, 2013 and December 31, 2012

Revenues. Total revenues increased $209.4 million to $2,682.9 million for 2013 from $2,473.5 million for 2012, representing an 8.5% increase. The table below, presented by reportable operating segment, summarizes our year-over-year revenue performance and certain key performance indicators that impact our revenues.

 

    U.S. Operating Segment     International Operating
Segment
    Consolidated  
    Year Ended
December 31,
    Year Ended
December 31,
    Year Ended
December 31,
 
    2013     2012     %
Change
    2013     2012     %
Change
    2013     2012     %
Change
 

Admissions revenues (1)

  $ 1,231.4      $ 1,099.6        12.0   $ 474.7      $ 480.8        (1.3 %)    $ 1,706.1      $ 1,580.4        8.0

Concession revenues (1)

  $ 609.3      $ 546.2        11.6   $ 235.9      $ 225.2        4.8   $ 845.2      $ 771.4        9.6

Other revenues (1)(2)

  $ 59.1      $ 50.1        18.0   $ 72.5      $ 71.6        1.3   $ 131.6      $ 121.7        8.1

Total revenues (1)(2)

  $ 1,899.8      $ 1,695.9        12.0   $ 783.1      $ 777.6        0.7   $ 2,682.9      $ 2,473.5        8.5

Attendance (1)

    177.2        163.6        8.3     99.4        100.1        (0.7 %)      276.6        263.7        4.9

 

(1) 

Amounts in millions.

(2) 

U.S. operating segment revenues include eliminations of intercompany transactions with the international operating segment. See Note 22 of our consolidated financial statements.

 

 

U.S. The increase in admissions revenues of $131.8 million was primarily attributable to an 8.3% increase in attendance and a 3.4% increase in average ticket price from $6.72 for 2012 to $6.95 for 2013. The increase in concession revenues of $63.1 million was primarily attributable to the 8.3% increase in attendance and a 3.0% increase in concession revenues per patron from $3.34 for 2012 to $3.44 for 2013. Our revenues and attendance for 2013 also benefited from the inclusion of the 32 Rave theatres acquired on May 29, 2013 (see Note 5 to the consolidated financial statements). The increase in average ticket price was primarily due to price increases and the pricing at acquired theatres. The increase in concession revenues per patron was primarily due to incremental sales and price increases. The increase in other revenues was primarily attributable to the 8.3% increase in attendance, which resulted in increases in screen advertising, video game and other promotional revenues.

 

 

International. The decrease in admissions revenues of $6.1 million was primarily attributable to a 0.7% decrease in attendance and a 0.4% decrease in average ticket price from $4.80 for 2012 to $4.78 for 2013. The increase in concession revenues of $10.7 million was primarily attributable to the 5.3% increase in concession revenues per patron from $2.25 for 2012 to $2.37 for 2013. The decrease in attendance was partly due to the sale of our Mexico theatres on November 15, 2013. The decrease in average ticket price was primarily due to the unfavorable impact of exchange rates in certain countries in which we operate. The increase in concession revenues per patron was primarily due to incremental sales and price increases, partially offset by the unfavorable impact of exchange rates in certain countries in which we operate.

Cost of Operations. The table below summarizes certain of our theatre operating costs by reportable operating segment (in millions).

 

     U.S.
Operating  Segment
     International  Operating
Segment
     Consolidated  
     Year Ended
December 31,
     Year Ended
December 31,
     Year Ended
December 31,
 
         2013              2012              2013              2012              2013              2012      

Film rentals and advertising

   $ 687.3       $ 610.5       $ 232.2       $ 234.6       $ 919.5       $ 845.1   

Concession supplies

     83.7         71.1         52.0         52.4         135.7         123.5   

Salaries and wages

     192.5         174.2         76.8         73.2         269.3         247.4   

Facility lease expense

     215.5         191.1         92.4         90.5         307.9         281.6   

Utilities and other

     204.5         182.9         101.2         97.8         305.7         280.7   

 

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