v2.3.0.15

CONDENSED CONSOLIDATING FINANCIAL INFORMATION

6 Months Ended

Sep. 29, 2011

CONDENSED CONSOLIDATING FINANCIAL INFORMATION

CONDENSED CONSOLIDATING FINANCIAL INFORMATION

NOTE 10—CONDENSED CONSOLIDATING FINANCIAL INFORMATION

        The accompanying condensed consolidating financial information has been prepared and presented pursuant to SEC Regulation S-X Rule 3-10, Financial statements of guarantors and issuers of guaranteed securities registered or being registered. Each of the subsidiary guarantors are 100% owned by AMCE. The subsidiary guarantees of AMCE's 8% Senior Subordinated Notes due 2014 (the "Notes due 2014"), 8.75% Senior Notes due 2019 (the "Notes due 2019"), and 9.75% Senior Subordinated Notes due 2020 (the "Notes due 2020") are full and unconditional and joint and several. There are significant restrictions on the Company's ability to obtain funds from any of its subsidiaries through dividends, loans or advances. The Company and its subsidiary guarantor's investments in its consolidated subsidiaries are presented under the equity method of accounting.

Thirteen weeks ended September 29, 2011:

(In thousands)				AMCE			Subsidiary Guarantors			Subsidiary Non-Guarantors			Consolidating Adjustments			Consolidated AMC Entertainment Inc.
Revenues
	Admissions			$	—		$	471,449		$	4,055		$	—		$	475,504
	Concessions				—			186,794			1,442			—			188,236
	Other theatre				—			19,391			292			—			19,683
		Total revenues			—			677,634			5,789			—			683,423
Operating Costs and Expenses
	Film exhibition costs				—			254,382			1,860			—			256,242
	Concession costs				—			25,311			295			—			25,606
	Operating expense				—			186,480			2,308			—			188,788
	Rent				—			116,910			1,389			—			118,299
	General and administrative:
		Merger, acquisition and transaction costs			85			639			—			—			724
		Management fee			—			1,250			—			—			1,250
		Other			—			13,804			(3	)		—			13,801
	Depreciation and amortization				—			51,228			125			—			51,353
Operating costs and expenses					85			650,004			5,974			—			656,063
		Operating income (loss)			(85	)		27,630			(185	)		—			27,360
Other expense (income)
	Equity in net loss of subsidiaries				13,920			303			—			(14,223	)		—
	Other income				—			(9,432	)		—			—			(9,432	)
	Interest expense:
		Corporate borrowings			40,165			51,016			—			(51,010	)		40,171
		Capital and financing lease obligations			—			1,493			—			—			1,493
	Equity in (earnings) losses of non-consolidated entities				(220	)		4,903			118			—			4,801
	Investment income				(43,727	)		(7,296	)		—			51,010			(13	)
Total other expense					10,138			40,987			118			(14,223	)		37,020
Loss from continuing operations before income taxes					(10,223	)		(13,357	)		(303	)		14,223			(9,660	)
Income tax provision					—			545			—			—			545
Loss from continuing operations					(10,223	)		(13,902	)		(303	)		14,223			(10,205	)
Loss from discontinued operations, net of income taxes					—			(18	)		—			—			(18	)
Net loss				$	(10,223	)	$	(13,920	)	$	(303	)	$	14,223		$	(10,223	)

Twenty-six weeks ended September 29, 2011:

(In thousands)				AMCE			Subsidiary Guarantors			Subsidiary Non-Guarantors			Consolidating Adjustments			Consolidated AMC Entertainment Inc.
Revenues
	Admissions			$	—		$	946,052		$	7,542		$	—		$	953,594
	Concessions				—			378,027			2,773			—			380,800
	Other theatre				—			38,563			602			—			39,165
		Total revenues			—			1,362,642			10,917			—			1,373,559
Operating Costs and Expenses
	Film exhibition costs				—			512,010			3,447			—			515,457
	Concession costs				—			51,305			557			—			51,862
	Operating expense				—			363,809			4,709			—			368,518
	Rent				—			232,854			2,702			—			235,556
	General and administrative:
		Merger, acquisition and transaction costs			85			1,251			—			—			1,336
		Management fee			—			2,500			—			—			2,500
		Other			—			28,218			33			—			28,251
	Depreciation and amortization				—			102,936			235			—			103,171
Operating costs and expenses					85			1,294,883			11,683			—			1,306,651
		Operating income (loss)			(85	)		67,759			(766	)		—			66,908
Other expense (income)
	Equity in net loss of subsidiaries				16,866			1,149			—			(18,015	)		—
	Other income				—			(11,529	)		—			—			(11,529	)
	Interest expense:
		Corporate borrowings			80,039			101,952			—			(101,969	)		80,022
		Capital and financing lease obligations			—			2,991			—			—			2,991
	Equity in (earnings) losses of non-consolidated entities				(312	)		4,234			383			—			4,305
	Investment income				(87,265	)		(14,744	)		—			101,969			(40	)
Total other expense					9,328			84,053			383			(18,015	)		75,749
Loss from continuing operations before income taxes					(9,413	)		(16,294	)		(1,149	)		18,015			(8,841	)
Income tax provision					525			545			—			—			1,070
Loss from continuing operations					(9,938	)		(16,839	)		(1,149	)		18,015			(9,911	)
Loss from discontinued operations, net of income taxes					—			(27	)		—			—			(27	)
Net loss				$	(9,938	)	$	(16,866	)	$	(1,149	)	$	18,015		$	(9,938	)

Thirteen weeks ended September 30, 2010:

(In thousands)				AMCE			Subsidiary Guarantors			Subsidiary Non-Guarantors			Consolidating Adjustments			Consolidated AMC Entertainment Inc.
Revenues
	Admissions			$	—		$	455,023		$	3,549		$	—		$	458,572
	Concessions				—			178,392			1,320			—			179,712
	Other theatre				—			15,119			222			—			15,341
		Total revenues			—			648,534			5,091			—			653,625
Operating Costs and Expenses
	Film exhibition costs				—			240,565			1,616			—			242,181
	Concession costs				—			23,521			284			—			23,805
	Operating expense				—			172,130			1,705			—			173,835
	Rent				—			119,660			1,821			—			121,481
	General and administrative:
		Merger, acquisition and transaction costs			—			5,219			—			—			5,219
		Management fee			—			1,250			—			—			1,250
		Other			—			17,967			20			—			17,987
	Depreciation and amortization				—			52,296			59			—			52,355
Operating costs and expenses					—			632,608			5,505			—			638,113
		Operating income (loss)			—			15,926			(414	)		—			15,512
Other expense (income)
	Equity in net (earnings) loss of subsidiaries				(56,409	)		1,016			—			55,393			—
	Other income				—			(7,746	)		—			—			(7,746	)
	Interest expense:
		Corporate borrowings			32,740			41,864			—			(41,873	)		32,731
		Capital and financing lease obligations			—			1,625			—			—			1,625
	Equity in (earnings) losses of non-consolidated entities				(153	)		(5,781	)		602			—			(5,332	)
	Gain on NCM transactions				—			(64,648	)		—			—			(64,648	)
	Investment income				(35,796	)		(6,131	)		—			41,873			(54	)
Total other expense (income)					(59,618	)		(39,801	)		602			55,393			(43,424	)
Earnings (loss) from continuing operations before income taxes					59,618			55,727			(1,016	)		(55,393	)		58,936
Income tax benefit					(460	)		(690	)		—			—			(1,150	)
Earnings (loss) from continuing operations					60,078			56,417			(1,016	)		(55,393	)		60,086
Loss from discontinued operations, net of income taxes					—			(8	)		—			—			(8	)
Net earnings (loss)				$	60,078		$	56,409		$	(1,016	)	$	(55,393	)	$	60,078

Twenty-six weeks ended September 30, 2010:

(In thousands)				AMCE			Subsidiary Guarantors			Subsidiary Non-Guarantors			Consolidating Adjustments			Consolidated AMC Entertainment Inc.
Revenues
	Admissions			$	—		$	900,893		$	6,276		$	—		$	907,169
	Concessions				—			353,368			2,303			—			355,671
	Other theatre				—			31,242			495			—			31,737
		Total revenues			—			1,285,503			9,074			—			1,294,577
Operating Costs and Expenses
	Film exhibition costs				—			478,182			2,822			—			481,004
	Concession costs				—			43,780			521			—			44,301
	Operating expense				—			318,039			3,437			—			321,476
	Rent				—			232,454			3,581			—			236,035
	General and administrative:
		Merger, acquisition and transaction costs			—			10,975			—			—			10,975
		Management fee			—			2,500			—			—			2,500
		Other			—			31,029			29			—			31,058
	Depreciation and amortization				—			100,844			114			—			100,958
Operating costs and expenses					—			1,217,803			10,504			—			1,228,307
		Operating income (loss)			—			67,700			(1,430	)		—			66,270
Other expense (income)
	Equity in net (earnings) loss of subsidiaries				(65,512	)		2,139			—			63,373			—
	Other income				—			(9,685	)		—			—			(9,685	)
	Interest expense:
		Corporate borrowings			65,761			84,042			—			(84,053	)		65,750
		Capital and financing lease obligations			—			3,008			—			—			3,008
	Equity in (earnings) losses of non-consolidated entities				(296	)		(3,979	)		709			—			(3,566	)
	Gain on NCM transactions				—			(64,648	)		—			—			(64,648	)
	Investment income				(71,883	)		(12,274	)		—			84,053			(104	)
Total other expense (income)					(71,930	)		(1,397	)		709			63,373			(9,245	)
Earnings (loss) from continuing operations before income taxes					71,930			69,097			(2,139	)		(63,373	)		75,515
Income tax provision					2,240			3,560			—			—			5,800
Earnings (loss) from continuing operations					69,690			65,537			(2,139	)		(63,373	)		69,715
Loss from discontinued operations, net of income taxes					—			(25	)		—			—			(25	)
Net earnings (loss)				$	69,690		$	65,512		$	(2,139	)	$	(63,373	)	$	69,690

As of September 29, 2011:

(In thousands)					AMCE			Subsidiary Guarantors			Subsidiary Non-Guarantors			Consolidating Adjustments			Consolidated AMC Entertainment Inc.
Assets
Current assets:
	Cash and equivalents				$	—		$	284,874		$	39,915		$	—		$	324,789
	Receivables, net					1,019			29,606			211			—			30,836
	Other current assets					—			88,611			2,076			—			90,687
		Total current assets				1,019			403,091			42,202			—			446,312
Investment in equity of subsidiaries						(268,005	)		80,090			—			187,915			—
Property, net						—			921,248			886			—			922,134
Intangible assets, net						—			142,602			—			—			142,602
Intercompany advances						2,706,571			(2,787,519	)		80,948			—			—
Goodwill						—			1,923,667			—			—			1,923,667
Other long-term assets						34,986			242,591			227			—			277,804
		Total assets			$	2,474,571		$	925,770		$	124,263		$	187,915		$	3,712,519
Liabilities and Stockholder's Equity
Current liabilities:
Accounts payable					$	—		$	157,376		$	1,185		$	—		$	158,561
Accrued expenses and other liabilities						38,570			114,091			1,353			—			154,014
Deferred revenues and income						—			147,443			397			—			147,840
Current maturities of corporate borrowings and capital and financing lease obligations						6,500			2,953			—			—			9,453
			Total current liabilities			45,070			421,863			2,935			—			469,868
Corporate borrowings						2,095,047			—			—			—			2,095,047
Capital and financing lease obligations						—			60,820			—			—			60,820
Deferred revenues—for exhibitor services agreement						—			331,277			—			—			331,277
Other long-term liabilities						—			379,815			41,238			—			421,053
		Total liabilities				2,140,117			1,193,775			44,173			—			3,378,065
		Stockholder's equity (deficit)				334,454			(268,005	)		80,090			187,915			334,454
		Total liabilities and stockholder's equity			$	2,474,571		$	925,770		$	124,263		$	187,915		$	3,712,519

As of March 31, 2011:

(In thousands)					AMCE			Subsidiary Guarantors			Subsidiary Non-Guarantors			Consolidating Adjustments			Consolidated AMC Entertainment Inc.
Assets
Current assets:
	Cash and equivalents				$	—		$	261,096		$	40,062		$	—		$	301,158
	Receivables, net					129			26,341			222			—			26,692
	Other current assets					—			85,987			2,162			—			88,149
		Total current assets				129			373,424			42,446			—			415,999
Investment in equity of subsidiaries						(235,409	)		79,567			—			155,842			—
Property, net						—			957,738			984			—			958,722
Intangible assets, net						—			149,493			—			—			149,493
Intercompany advances						2,694,299			(2,775,489	)		81,190			—			—
Goodwill						—			1,923,667			—			—			1,923,667
Other long-term assets						37,278			254,629			457			—			292,364
		Total assets			$	2,496,297		$	963,029		$	125,077		$	155,842		$	3,740,245
Liabilities and Stockholder's Equity
Current liabilities
	Accounts payable				$	—		$	164,553		$	863		$	—		$	165,416
	Accrued expenses and other liabilities					33,598			104,519			870			—			138,987
	Deferred revenues and income					—			140,766			471			—			141,237
	Current maturities of corporate borrowings and capital and financing lease obligations					6,500			3,455			—			—			9,955
			Total current liabilities			40,098			413,293			2,204			—			455,595
Corporate borrowings						2,096,040			—			—			—			2,096,040
Capital and financing lease obligations						—			62,220			—			—			62,220
Deferred revenues for exhibitor services agreement						—			333,792			—			—			333,792
Other long-term liabilities						—			389,133			43,306			—			432,439
		Total liabilities				2,136,138			1,198,438			45,510			—			3,380,086
		Stockholder's equity (deficit)				360,159			(235,409	)		79,567			155,842			360,159
		Total liabilities and stockholder's equity			$	2,496,297		$	963,029		$	125,077		$	155,842		$	3,740,245

Twenty-six weeks ended September 29, 2011:

(In thousands)			AMCE			Subsidiary Guarantors			Subsidiary Non-Guarantors			Consolidating Adjustments			Consolidated AMC Entertainment Inc.
Cash flows from operating activities:
Net cash provided by operating activities			$	13,470		$	94,603		$	(332	)	$	—		$	107,741
Cash flows from investing activities:
	Capital expenditures			—			(56,358	)		(150	)		—			(56,508	)
	Proceeds from sale/leaseback of digital projection equipment			—			953			—			—			953
	Investments in non-consolidated entities, net			1,049			(22,747	)		(1	)		—			(21,699	)
	Proceeds from the disposition of long-term assets			—			801			—			—			801
	Other, net			—			(237	)		—			—			(237	)
Net cash provided by (used in) investing activities				1,049			(77,588	)		(151	)		—			(76,690	)
Cash flows from financing activities:
	Deferred financing costs			(585	)		—			—			—			(585	)
	Principal payments under capital and financing lease obligations			—			(1,869	)		—			—			(1,869	)
	Principle payments under Term Loan			(1,625	)		—			—			—			(1,625	)
	Change in construction payables			—			(4,194	)		—			—			(4,194	)
	Change in intercompany advances			(12,309	)		12,067			242			—			—
Net cash provided by (used in) financing activities				(14,519	)		6,004			242			—			(8,273	)
Effect of exchange rate changes on cash and equivalents				—			759			94			—			853
Net increase in cash and equivalents				—			23,778			(147	)		—			23,631
Cash and equivalents at beginning of period				—			261,096			40,062			—			301,158
Cash and equivalents at end of period			$	—		$	284,874		$	39,915		$	—		$	324,789

Twenty-six weeks ended September 30, 2010:

(In thousands)			AMCE			Subsidiary Guarantors			Subsidiary Non-Guarantors			Consolidating Adjustments			Consolidated AMC Entertainment Inc.
Cash flows from operating activities:
Net cash provided by operating activities			$	9,489		$	15,771		$	(270	)	$	—		$	24,990
Cash flows from investing activities:
	Capital expenditures			—			(46,640	)		(71	)		—			(46,711	)
	Acquisition of Kerasotes, net of cash acquired			—			(280,606	)		—			—			(280,606	)
	Proceeds from sale/leaseback of digital projection equipment			—			1,655			—			—			1,655
	Proceeds from NCM, Inc. stock sale			—			102,224			—			—			102,224
	Proceeds from disposition of Cinemex			—			860			—			—			860
	Investments in non-consolidated entities, net			—			(403	)		200			—			(203	)
	Proceeds from the disposition of long-term assets			—			55,991			—			—			55,991
	Other, net			—			(2,361	)		—			—			(2,361	)
Net cash used in investing activities				—			(169,280	)		129			—			(169,151	)
Cash flows from financing activities:
	Deferred financing costs			(95	)		—			—			—			(95	)
	Principal payments under capital and financing lease obligations			—			(2,072	)		—			—			(2,072	)
	Principal payments under Term Loan			(3,250	)		—			—			—			(3,250	)
	Change in construction payables			—			(3,524	)		—			—			(3,524	)
	Dividends paid to Marquee Holdings Inc.			(15,184	)		—			—			—			(15,184	)
	Change in intercompany advances			9,040			(9,221	)		181			—			—
Net cash used in financing activities				(9,489	)		(14,817	)		181			—			(24,125	)
Effect of exchange rate changes on cash and equivalents				—			—			(205	)		—			(205	)
Net decrease in cash and equivalents				—			(168,326	)		(165	)		—			(168,491	)
Cash and equivalents at beginning of period				—			455,242			40,101			—			495,343
Cash and equivalents at end of period			$	—		$	286,916		$	39,936		$	—		$	326,852

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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 SEC

-Name Regulation S-X (SX)

-Number 210

-Article 9

-Section 06



Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Article 7

-Section 05

-Paragraph c



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 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=6881521&loc=d3e24072-122690



Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph 24

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.



Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 04

-Article 12



Reference 7: 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=6921628&loc=d3e5283-111683

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