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CONDENSED FINANCIAL INFORMATION OF REGISTRANT | 12 Months Ended
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Dec. 31, 2015
CONDENSED FINANCIAL INFORMATION OF REGISTRANT | SCHEDULE 1 — CONDENSED FINANCIAL INFORMATION OF REGISTRANT CINEMARK HOLDINGS, INC. PARENT COMPANY BALANCE SHEETS (In thousands, except share data)
|  | December 31, 2014 |  |  | December 31, 2015 |
Assets |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 29 |  |  | $ | 36 |
Prepaid assets |  |  | 55 |  |  |  | — |
Investment in subsidiaries |  |  | 1,126,395 |  |  |  | 1,102,148 |
Total assets |  | $ | 1,126,479 |  |  | $ | 1,102,184 |
Liabilities and equity |  |  |  |  |  |  |  |
Liabilities |  |  |  |  |  |  |  |
Accrued other current liabilities, including accounts payable to subsidiaries |  | $ | 13,163 |  |  | $ | 1,794 |
Other long-term liabilities |  |  | 516 |  |  |  | 682 |
Total liabilities |  |  | 13,679 |  |  |  | 2,476 |
Commitments and contingencies (see Note 6) |  |  |  |  |  |  |  |
Equity |  |  |  |  |  |  |  |
Common stock, $0.001 par value: 300,000,000 shares authorized; 119,757,582 shares issued and 115,700,447 shares outstanding at December 31, 2014 and 120,107,563 shares issued and 115,924,059 shares outstanding at December 31, 2015 |  |  | 120 |  |  |  | 120 |
Additional paid-in-capital |  |  | 1,095,040 |  |  |  | 1,113,219 |
Treasury stock, 4,057,135 and 4,183,504 common shares at cost at December 31, 2014 and December 31, 2015, respectively |  |  | (61,807 | ) |  |  | (66,577 | )
Retained earnings |  |  | 224,219 |  |  |  | 324,632 |
Accumulated other comprehensive loss |  |  | (144,772 | ) |  |  | (271,686 | )
Total equity |  |  | 1,112,800 |  |  |  | 1,099,708 |
Total liabilities and equity |  | $ | 1,126,479 |  |  | $ | 1,102,184 |
The accompanying notes are an integral part of the condensed financial information of the registrant. CINEMARK HOLDINGS, INC. PARENT COMPANY STATEMENTS OF INCOME YEARS ENDED DECEMBER 31, 2013, 2014 and 2015 (in thousands)
|  | 2013 |  |  | 2014 |  |  | 2015 |
Revenues |  | $ | — |  |  | $ | — |  |  | $ | — |
Cost of operations |  |  | 2,215 |  |  |  | 2,857 |  |  |  | 2,684 |
Operating loss |  |  | (2,215 | ) |  |  | (2,857 | ) |  |  | (2,684 | )
Other income |  |  | — |  |  |  | — |  |  |  | — |
Loss before income taxes and equity in income of subsidiaries |  |  | (2,215 | ) |  |  | (2,857 | ) |  |  | (2,684 | )
Income taxes |  |  | 842 |  |  |  | 1,086 |  |  |  | 1,020 |
Equity in income of subsidiaries, net of taxes |  |  | 149,843 |  |  |  | 194,381 |  |  |  | 218,533 |
Net income |  | $ | 148,470 |  |  | $ | 192,610 |  |  | $ | 216,869 |
The accompanying notes are an integral part of the condensed financial information of the registrant. CINEMARK HOLDINGS, INC. PARENT COMPANY STATEMENTS OF COMPREHENSIVE INCOME YEARS ENDED DECEMBER 31, 2013, 2014 and 2015 (In thousands)
|  | 2013 |  |  | 2014 |  |  | 2015 |
Net income |  | $ | 148,470 |  |  | $ | 192,610 |  |  | $ | 216,869 |
Other comprehensive income (loss), net of tax |  |  |  |  |  |  |  |  |  |  |  |
Unrealized gain due to fair value adjustments on interest rate swap agreements, net of taxes of $1,865, $1,759 and $1,562, net of settlements |  |  | 3,151 |  |  |  | 2,846 |  |  |  | 2,636 |
Unrealized gain (loss) due to fair value adjustments on available-for-sale securities, net of taxes of $1,223, $1,479 and $572 |  |  | (2,041 | ) |  |  | 2,507 |  |  |  | (957 | )
Other comprehensive income (loss) in equity method investments |  |  | 2,386 |  |  |  | 676 |  |  |  | (3,119 | )
Foreign currency translation adjustments, net of taxes of $0, $0, and $888 |  |  | (47,617 | ) |  |  | (68,982 | ) |  |  | (125,474 | )
Total other comprehensive loss, net of tax |  |  | (44,121 | ) |  |  | (62,953 | ) |  |  | (126,914 | )
Total comprehensive income, net of tax |  |  | 104,349 |  |  |  | 129,657 |  |  |  | 89,955 |
Comprehensive income attributable to noncontrolling interests |  |  | — |  |  |  | — |  |  |  | — |
Comprehensive income attributable to Cinemark Holdings, Inc. |  | $ | 104,349 |  |  | $ | 129,657 |  |  | $ | 89,955 |
The accompanying notes are an integral part of the condensed financial information of the registrant. CINEMARK HOLDINGS, INC. PARENT COMPANY STATEMENTS OF CASH FLOWS YEARS ENDED DECEMBER 31, 2013, 2014 and 2015 (in thousands)
|  | 2013 |  |  | 2014 |  |  | 2015 |
Operating Activities |  |  |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 148,470 |  |  | $ | 192,610 |  |  | $ | 216,869 |
Adjustments to reconcile net income to cash provided by operating activities: |  |  |  |  |  |  |  |  |  |  |  |
Share based awards compensation expense |  |  | 840 |  |  |  | 943 |  |  |  | 885 |
Equity in income of subsidiaries |  |  | (149,843 | ) |  |  | (194,381 | ) |  |  | (218,533 | )
Changes in other assets and liabilities |  |  | 4,301 |  |  |  | 11,196 |  |  |  | 6,194 |
Net cash provided by operating activities |  |  | 3,768 |  |  |  | 10,368 |  |  |  | 5,415 |
Investing Activities |  |  |  |  |  |  |  |  |  |  |  |
Dividends received from subsidiaries |  |  | 105,150 |  |  |  | 115,000 |  |  |  | 115,225 |
Net cash provided by investing activities |  |  | 105,150 |  |  |  | 115,000 |  |  |  | 115,225 |
Financing Activities |  |  |  |  |  |  |  |  |  |  |  |
Proceeds from stock option exercises |  |  | 57 |  |  |  | 112 |  |  |  | — |
Payroll taxes paid as a result of noncash stock option exercises and restricted stock withholdings |  |  | (3,464 | ) |  |  | (9,861 | ) |  |  | (4,770 | )
Dividends paid to stockholders |  |  | (106,045 | ) |  |  | (115,625 | ) |  |  | (115,863 | )
Net cash used for financing activities |  |  | (109,452 | ) |  |  | (125,374 | ) |  |  | (120,633 | )
Increase (decrease) in cash and cash equivalents |  |  | (534 | ) |  |  | (6 | ) |  |  | 7 |
Cash and cash equivalents: |  |  |  |  |  |  |  |  |  |  |  |
Beginning of period |  |  | 569 |  |  |  | 35 |  |  |  | 29 |
End of period |  | $ | 35 |  |  | $ | 29 |  |  | $ | 36 |
The accompanying notes are an integral part of the condensed financial information of the registrant. 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 financial 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 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, 2015, the restricted net assets totaled approximately $811,988 and $980,128 under the senior secured credit facility and the Notes, respectively. See Note 11 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) |
02/12/13 |  | 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 |
02/14/14 |  | 03/04/14 |  | 03/19/14 |  | $ | 0.25 |  |  | $ | 29,015 |
05/22/14 |  | 06/06/14 |  | 06/20/14 |  | $ | 0.25 |  |  |  | 29,030 |
08/13/14 |  | 08/28/14 |  | 09/12/14 |  | $ | 0.25 |  |  |  | 29,032 |
11/12/14 |  | 12/02/14 |  | 12/11/14 |  | $ | 0.25 |  |  |  | 29,078 |
Total – Year ended December 31, 2014 |  |  | $ | 116,155 |
02/17/15 |  | 03/04/15 |  | 03/18/15 |  | $ | 0.25 |  |  | $ | 29,025 |
05/18/15 |  | 06/05/15 |  | 06/19/15 |  | $ | 0.25 |  |  |  | 29,075 |
08/20/15 |  | 08/31/15 |  | 09/11/15 |  | $ | 0.25 |  |  |  | 29,080 |
11/13/15 |  | 12/02/15 |  | 12/16/15 |  | $ | 0.25 |  |  |  | 29,276 |
Total – Year ended December 31, 2015 |  |  |  |  |  | $ | 116,456 |
(1) | Of the dividends recorded during 2013, 2014 and 2015, $772, $530 and $593, respectively, were related to outstanding restricted stock units and will not be paid until such units vest. See Note 16 of the Company’s consolidated financial statements included elsewhere in this report.
(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.
3. | DIVIDENDS RECEIVED FROM SUBSIDIARIES
During the years ended December 31, 2013, 2014 and 2015, Cinemark Holdings, Inc. received cash dividends of $105,150, $115,000 and $115,225, respectively, from its subsidiary, Cinemark USA, Inc. Cinemark USA, Inc. also declared a noncash distribution to Cinemark Holdings, Inc. during the years ended December 31, 2013 and 2015 of approximately $4,971 and $17,935, respectively.
4. | LONG-TERM DEBT
Cinemark Holdings, Inc. has no direct outstanding debt obligations, but its subsidiaries do. For a discussion of the debt obligations of Cinemark Holdings, Inc.’s subsidiaries, see Note 11 to the Company’s consolidated financial statements included elsewhere in this annual report on Form 10-K.
5. | CAPITAL STOCK
Cinemark Holdings, Inc.’s capital stock along with its long-term incentive plan and related activity are discussed in Note 16 of the Company’s consolidated financial statements included elsewhere in this annual report on Form 10-K.
6. | COMMITMENTS AND CONTINGENCIES
Cinemark Holdings, Inc. has no direct commitments and contingencies, but its subsidiaries do. See Note 19 of the Company’s consolidated financial statements included elsewhere in this annual report on Form 10-K.

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- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=51664549&loc=d3e5283-111683 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e24072-122690 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph c -Article 5 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 06 -Article 9 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 05 -Paragraph c -Article 7 + Details
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