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INVESTMENTS (Tables)
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3 Months Ended |
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Jun. 28, 2012
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| INVESTMENTS |
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| Condensed financial information of the reporting entity's non-consolidated equity method investments |
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Thirteen Weeks Ended June 28, 2012 |
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(In thousands) |
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NCM |
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DCIP |
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ORF |
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Other |
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Total |
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Revenues |
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$ |
110,100 |
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$ |
42,175 |
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$ |
32,900 |
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$ |
8,449 |
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$ |
193,624 |
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Operating costs and expenses |
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108,300 |
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32,973 |
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24,500 |
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9,215 |
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174,988 |
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Net earnings (loss) |
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$ |
1,800 |
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$ |
9,202 |
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$ |
8,400 |
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$ |
(766 |
) |
$ |
18,636 |
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Thirteen Weeks Ended June 30, 2011 |
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(In thousands) |
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NCM |
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DCIP |
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ORF |
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Other |
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Total |
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Revenues |
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$ |
113,963 |
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$ |
29,150 |
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$ |
— |
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$ |
4,572 |
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$ |
147,685 |
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Operating costs and expenses |
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76,401 |
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|
33,842 |
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|
2,264 |
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4,824 |
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117,331 |
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Net earnings (loss) |
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$ |
37,562 |
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$ |
(4,692 |
) |
$ |
(2,264 |
) |
$ |
(252 |
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$ |
30,354 |
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| Schedule of components of the Company's recorded equity in earnings (loss) of non-consolidated entities |
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Thirteen Weeks
Ended |
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(In thousands) |
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June 28,
2012 |
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June 30,
2011 |
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National CineMedia, LLC |
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$ |
446 |
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$ |
3,239 |
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Digital Cinema Implementation Partners, LLC |
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2,809 |
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(1,498 |
) |
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Open Road Releasing, LLC |
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4,200 |
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(1,132 |
) |
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Other |
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1,298 |
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(113 |
) |
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The Company's recorded equity in earnings |
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$ |
8,753 |
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$ |
496 |
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| Schedule of changes in the carrying amount of the entity's investment in NCM and equity in earnings of NCM |
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(In thousands) |
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Investment in
NCM(1) |
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Deferred
Revenue(2) |
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Cash Received |
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Equity in
(Earnings) |
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Advertising
(Revenue) |
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Ending balance March 29, 2012 |
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$ |
71,517 |
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$ |
(328,442 |
) |
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Receipt of excess cash distributions |
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(130 |
) |
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— |
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$ |
509 |
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$ |
(379 |
) |
$ |
— |
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Change in interest loss |
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(16 |
) |
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— |
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— |
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16 |
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— |
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Amortization of deferred revenue |
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— |
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1,399 |
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— |
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— |
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(1,399 |
) |
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Equity in earnings(3) |
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83 |
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— |
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— |
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(83 |
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— |
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For the period ended or balance as of June 28, 2012 |
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$ |
71,454 |
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$ |
(327,043 |
) |
$ |
509 |
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$ |
(446 |
) |
$ |
(1,399 |
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- (1)
- Represents AMC's investment in 519,979 common membership units originally valued at March 27, 2008, 224,828 common membership units originally valued at March 17, 2009, 70,424 common membership units originally valued at March 17, 2010, and 3,601,811 common membership units originally valued at June 14, 2010 received under the Common Unit Adjustment Agreement dated as of February 13, 2007 (Tranche 2 Investments). AMC's investment in 12,906,740 common membership units (Tranche 1 Investment) is carried at zero cost.
- (2)
- Represents the unamortized portion of the Exhibitor Services Agreement (ESA) modifications payment received from NCM. Such amounts are being amortized to revenues over the remainder of the 30 year term of the ESA ending in 2036, using a units-of-revenue method, as described in ASC 470-10-35 (formerly EITF 88-18, Sales of Future Revenues).
- (3)
- Represents equity in earnings on the Tranche 2 Investments only.
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