XML 32 R21.htm IDEA: XBRL DOCUMENT
v3.8.0.1

Segments | 3 Months Ended
--- | ---
Mar. 31, 2018
Segment Reporting [Abstract] |
Segments |
15. | Segments
The Company manages its international market and its U.S. market as separate reportable operating segments, with the international segment consisting of operations in Brazil, Argentina, Chile, Colombia, Peru, Ecuador, Honduras, El Salvador, Nicaragua, Costa Rica, Panama, Guatemala, Bolivia, Curacao and Paraguay. Each segment’s revenue is derived from admissions and concession sales and other ancillary revenues. The Company uses Adjusted EBITDA, as shown in the reconciliation table below, as the primary measure of segment profit and loss to evaluate performance and allocate its resources. The Company does not report total assets 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 |
|  | March 31, |
|  | 2018 |  |  | 2017 |
Revenues |  |  |  |  |  |  |  |
U.S. |  | $ | 599,645 |  |  | $ | 581,209 |
International |  |  | 183,628 |  |  |  | 202,068 |
Eliminations |  |  | (3,302 | ) |  |  | (3,667 | )
Total revenues |  | $ | 779,971 |  |  | $ | 779,610 |
Adjusted EBITDA |  |  |  |  |  |  |  |
U.S. |  | $ | 155,844 |  |  | $ | 164,654 |
International |  |  | 37,586 |  |  |  | 47,226 |
Total Adjusted EBITDA |  | $ | 193,430 |  |  | $ | 211,880 |
Capital expenditures |  |  |  |  |  |  |  |
U.S. |  | $ | 69,971 |  |  | $ | 78,817 |
International |  |  | 10,192 |  |  |  | 12,370 |
Total capital expenditures |  | $ | 80,163 |  |  | $ | 91,187 |
The following table sets forth a reconciliation of net income to Adjusted EBITDA:
|  | Three Months Ended |
|  | March 31, |
|  | 2018 |  |  | 2017 |
Net income |  | $ | 62,177 |  |  | $ | 80,194 |
Add (deduct): |  |  |  |  |  |  |  |
Income taxes |  |  | 25,097 |  |  |  | 44,400 |
Interest expense (1) |  |  | 27,115 |  |  |  | 26,369 |
Other income (2) |  |  | (7,273 | ) |  |  | (12,982 | )
Loss on debt amendments |  |  | 1,484 |  |  |  | - |
Other cash distributions from equity investees (3) |  |  | 12,323 |  |  |  | 12,049 |
Depreciation and amortization |  |  | 64,395 |  |  |  | 57,356 |
Impairment of long-lived assets |  |  | 591 |  |  |  | 273 |
Loss on sale of assets and other |  |  | 3,939 |  |  |  | 834 |
Deferred lease expenses |  |  | (483 | ) |  |  | (347 | )
Amortization of long-term prepaid rents |  |  | 639 |  |  |  | 493 |
Share based awards compensation expense |  |  | 3,426 |  |  |  | 3,241 |
Adjusted EBITDA (4) |  | $ | 193,430 |  |  | $ | 211,880 |
| (1) | Includes amortization of debt issue costs.
| (2) | Includes interest income, foreign currency exchange gain, equity in income of affiliates and interest expense - NCM and excludes distributions from NCM.
| (3) | Includes cash distributions received from equity investees that were recorded as a reduction of the respective investment balances (see Notes 7 and 8). These distributions are reported entirely within the U.S. operating segment.
| (4) | The adoption of ASC Topic 606 impacted how the Company records certain revenues. See Note 3 for discussion of the impact of ASC Topic 606.
Financial Information About Geographic Areas Below is a breakdown of selected financial information by geographic area:
|  | Three Months Ended |
|  | March 31, |
Revenues |  | 2018 |  |  | 2017 |
U.S. |  | $ | 599,645 |  |  | $ | 581,209 |
Brazil |  |  | 80,136 |  |  |  | 94,699 |
Other international countries |  |  | 103,492 |  |  |  | 107,369 |
Eliminations |  |  | (3,302 | ) |  |  | (3,667 | )
Total |  | $ | 779,971 |  |  | $ | 779,610 |
|  | As of |  |  | As of |
Theatre Properties and Equipment-net |  | March 31, 2018 |  |  | December 31, 2017 |
U.S. |  | $ | 1,450,758 |  |  | $ | 1,439,168 |
Brazil |  |  | 174,341 |  |  |  | 179,669 |
Other international countries |  |  | 210,553 |  |  |  | 209,217 |
Total |  | $ | 1,835,652 |  |  | $ | 1,828,054 |

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for 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 percent 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 Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration