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v2.3.0.11

Segments | 6 Months Ended
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Jun. 30, 2011
Segments [Abstract] |
Segments | 17. Segments The Company manages its international market and its U.S. market as separate reportable operating segments. The international segment consists of operations in Brazil, Mexico, Chile, Colombia, Argentina, Ecuador, Peru, Honduras, El Salvador, Nicaragua, Costa Rica, Panama and Guatemala. The U.S. segment includes U.S. and Canada operations (note that the Company’s only Canadian theatre was sold during November 2010.) Each segment’s revenue is derived from admissions and concession sales and other ancillary revenues, primarily screen advertising. The measure of segment profit and loss the Company uses to evaluate performance and allocate its resources is Adjusted EBITDA, as defined in the reconciliation table below. The Company does not report asset information by segment because that information is not used to evaluate the performance of or allocate resources between segments. Below is a breakdown of selected financial information by reportable operating segment:
|  | Three Months Ended |  | Six Months Ended
|  | June 30, |  | June 30,
|  | 2011 |  | 2010 |  | 2011 |  | 2010
Revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. |  | $ | 444,479 |  |  | $ | 410,964 |  |  | $ | 775,345 |  |  | $ | 799,579 |
International |  |  | 178,720 |  |  |  | 129,641 |  |  |  | 333,191 |  |  |  | 258,912 |
Eliminations |  |  | (2,606 | ) |  |  | (1,236 | ) |  |  | (4,807 | ) |  |  | (2,491 | )
Total revenues |  | $ | 620,593 |  |  | $ | 539,369 |  |  | $ | 1,103,729 |  |  | $ | 1,056,000 |
Adjusted EBITDA |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. |  | $ | 110,015 |  |  | $ | 96,548 |  |  | $ | 178,806 |  |  | $ | 185,953 |
International |  |  | 39,776 |  |  |  | 28,568 |  |  |  | 73,691 |  |  |  | 60,944 |
Total Adjusted EBITDA |  | $ | 149,791 |  |  | $ | 125,116 |  |  | $ | 252,497 |  |  | $ | 246,897 |
Capital expenditures |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. |  | $ | 27,977 |  |  | $ | 23,508 |  |  | $ | 39,445 |  |  | $ | 36,008 |
International |  |  | 21,556 |  |  |  | 13,935 |  |  |  | 45,857 |  |  |  | 20,952 |
Total capital expenditures |  | $ | 49,533 |  |  | $ | 37,443 |  |  | $ | 85,302 |  |  | $ | 56,960 |
The following table sets forth a reconciliation of net income to Adjusted EBITDA:
|  | Three Months Ended |  | Six Months Ended
|  | June 30, |  | June 30,
|  | 2011 |  | 2010 |  | 2011 |  | 2010
Net income |  | $ | 41,009 |  |  | $ | 40,759 |  |  | $ | 66,331 |  |  | $ | 77,470 |
Add (deduct): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Income taxes |  |  | 23,272 |  |  |  | 10,211 |  |  |  | 32,309 |  |  |  | 30,041 |
Interest expense (1) |  |  | 29,777 |  |  |  | 28,605 |  |  |  | 59,067 |  |  |  | 54,615 |
Loss on early retirement of debt |  |  | 4,945 |  |  |  | — |  |  |  | 4,945 |  |  |  | — |
Other (income) expense(2) |  |  | (443 | ) |  |  | 1,454 |  |  |  | (5,473 | ) |  |  | 642 |
Depreciation and amortization (3) |  |  | 39,897 |  |  |  | 34,915 |  |  |  | 79,037 |  |  |  | 69,006 |
Impairment of long-lived assets |  |  | 1,594 |  |  |  | 4,688 |  |  |  | 2,609 |  |  |  | 5,035 |
Loss on sale of assets and other |  |  | 5,694 |  |  |  | 1,191 |  |  |  | 6,166 |  |  |  | 4,358 |
Deferred lease expenses |  |  | 870 |  |  |  | 914 |  |  |  | 1,650 |  |  |  | 1,697 |
Amortization of long-term prepaid rents |  |  | 617 |  |  |  | 438 |  |  |  | 1,284 |  |  |  | 779 |
Share based awards compensation expense |  |  | 2,559 |  |  |  | 1,941 |  |  |  | 4,572 |  |  |  | 3,254 |
Adjusted EBITDA |  | $ | 149,791 |  |  | $ | 125,116 |  |  | $ | 252,497 |  |  | $ | 246,897 |
(1) |  | Includes amortization of debt issue costs.
(2) |  | Includes interest income, foreign currency exchange gain and equity in income (loss) of affiliates and excludes distributions from NCM. Distributions from NCM are reported entirely within the U.S. operating segment.
(3) |  | Includes amortization of favorable/unfavorable leases.
Financial Information About Geographic Areas The Company has operations in the U.S., Brazil, Mexico, Chile, Colombia, Argentina, Ecuador, Peru, Honduras, El Salvador, Nicaragua, Costa Rica, Panama and Guatemala, which are reflected in the condensed consolidated financial statements. Below is a breakdown of selected financial information by geographic area:
|  | Three Months Ended |  | Six Months Ended
|  | June 30, |  | June 30,
|  | 2011 |  | 2010 |  | 2011 |  | 2010
Revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. |  | $ | 444,479 |  |  | $ | 410,964 |  |  | $ | 775,345 |  |  | $ | 799,579 |
Brazil |  |  | 91,602 |  |  |  | 69,999 |  |  |  | 178,443 |  |  |  | 139,217 |
Mexico |  |  | 21,575 |  |  |  | 17,715 |  |  |  | 37,492 |  |  |  | 35,097 |
Other foreign countries |  |  | 65,543 |  |  |  | 41,927 |  |  |  | 117,256 |  |  |  | 84,598 |
Eliminations |  |  | (2,606 | ) |  |  | (1,236 | ) |  |  | (4,807 | ) |  |  | (2,491 | )
Total |  | $ | 620,593 |  |  | $ | 539,369 |  |  | $ | 1,103,729 |  |  | $ | 1,056,000 |
|  | June 30, |  | December 31,
|  | 2011 |  | 2010
Theatre Properties and Equipment-net |  |  |  |  |  |  |  |
U.S. |  | $ | 948,118 |  |  | $ | 972,358 |
Brazil |  |  | 142,888 |  |  |  | 129,361 |
Mexico |  |  | 48,335 |  |  |  | 43,127 |
Other foreign countries |  |  | 78,880 |  |  |  | 70,600 |
Total |  | $ | 1,218,221 |  |  | $ | 1,215,446 |

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- Definition This element may be used to capture the complete disclosure of reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10% or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 131 + Details
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