v2.4.0.6

DISCONTINUED OPERATIONS | 6 Months Ended
--- | ---
Sep. 27, 2012
DISCONTINUED OPERATIONS |
DISCONTINUED OPERATIONS |
NOTE 3—DISCONTINUED OPERATIONS In August of 2012, the Company closed one theatre with 20 screens located in Canada. The Company paid the landlord $7,562,000 to terminate the lease agreement. Also, the Company sold one theatre with 12 screens located in the United Kingdom in August of 2012. The proceeds received from the sale was $395,000, and is subject to working capital and other purchase price adjustments as described in the asset purchase agreement. In July of 2012, the Company sold six theatres with 134 screens located in Canada. The aggregate total proceeds from the sales were approximately $1,472,000, and are subject to working capital and other purchase price adjustments. The Company recorded gains, net of lease termination expense, on the disposition of the seven Canada theatres and the one United Kingdom theatre of approximately $39,000,000, primarily due to the write-off of long-term lease liabilities extinguished in connection with the sales and closure. The Company does not have any significant continuing involvement in the operations of these theatres after the disposition. The results of operations of these theatres have been classified as discontinued operations, and information presented for all periods reflects the new classification. In December of 2008, the Company sold all of its interests in Cinemex, which then operated 44 theatres with 493 screens primarily in the Mexico City Metropolitan Area, to Entretenimiento GM de Mexico S.A. de C.V. ("Entretenimiento"). As of September 27, 2012, the Company estimates that it is contractually entitled to receive an additional $6,416,000 of the purchase price related to tax payments and refunds. While the Company believes it is entitled to these amounts from Cinemex, the collection will require litigation, which was initiated by the Company on April 30, 2010. Resolution could take place over a prolonged period. In fiscal 2010, as a result of the litigation, the Company established an allowance for doubtful accounts related to this receivable and directly charged off the receivable amount as uncollectible. The Company does not have any significant continuing involvement in the operations of the Cinemex theatres after the disposition. Any purchase price tax collections received or legal fees paid related to the sale of the Cinemex theatres have been classified as discontinued operations for all periods presented. Components of amounts reflected as (earnings) loss from discontinued operations in the Company's Consolidated Statements of Operations are presented in the following table:
|  | Thirteen Weeks Ended |  | Twenty-six Weeks Ended |
--- | --- | --- | --- | --- | ---
(In thousands) |  | From Inception August 31, 2012 through September 27, 2012 |  | June 29, 2012 through August 30, 2012 |  | Thirteen Weeks Ended September 29, 2011 |  | From Inception August 31, 2012 through September 27, 2012 |  | March 30, 2012 through August 30, 2012 |  | Twenty-six Weeks Ended September 29, 2011 |
|  | (Successor) |  | (Predecessor) |  | (Predecessor) |  | (Successor) |  | (Predecessor) |  | (Predecessor) |
Revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Admissions |  | $ | — |  | $ | 3,465 |  | $ | 15,519 |  | $ | — |  | $ | 16,389 |  | $ | 30,124 |
Concessions |  |  | — |  |  | 1,306 |  |  | 5,719 |  |  | — |  |  | 6,099 |  |  | 11,041 |
Other theatre |  |  | — |  |  | 107 |  |  | 932 |  |  | — |  |  | 548 |  |  | 1,328 |
Total revenues |  |  | — |  |  | 4,878 |  |  | 22,170 |  |  | — |  |  | 23,036 |  |  | 42,493 |
Operating costs and expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Film exhibition costs |  |  | — |  |  | 1,852 |  |  | 8,054 |  |  | — |  |  | 8,706 |  |  | 15,764 |
Concession costs |  |  | — |  |  | 342 |  |  | 1,086 |  |  | — |  |  | 1,252 |  |  | 1,989 |
Operating expense |  |  | — |  |  | 9,424 |  |  | 6,845 |  |  | — |  |  | 15,592 |  |  | 13,638 |
Rent |  |  | — |  |  | 1,435 |  |  | 5,969 |  |  | — |  |  | 7,322 |  |  | 11,737 |
Depreciation and amortization |  |  | — |  |  | 22 |  |  | 362 |  |  | — |  |  | 263 |  |  | 601 |
(Gain) loss on disposition |  |  | (58 | ) |  | (47,000 | ) |  | 18 |  |  | (58 | ) |  | (46,951 | ) |  | 27 |
Operating (income) costs and expenses |  |  | (58 | ) |  | (33,925 | ) |  | 22,334 |  |  | (58 | ) |  | (13,816 | ) |  | 43,756 |
Operating income (loss) |  |  | 58 |  |  | 38,803 |  |  | (164 | ) |  | 58 |  |  | 36,852 |  |  | (1,263 | )
Investment income |  |  | — |  |  | (10 | ) |  | (3 | ) |  | — |  |  | (12 | ) |  | (5 | )
Total other expense |  |  | — |  |  | (10 | ) |  | (3 | ) |  | — |  |  | (12 | ) |  | (5 | )
Earnings (loss) before income taxes |  |  | 58 |  |  | 38,813 |  |  | (161 | ) |  | 58 |  |  | 36,864 |  |  | (1,258 | )
Income tax provision |  |  | — |  |  | 1,200 |  |  | — |  |  | — |  |  | 1,200 |  |  | — |
Net earnings (loss) |  | $ | 58 |  | $ | 37,613 |  | $ | (161 | ) | $ | 58 |  | $ | 35,664 |  | $ | (1,258 | )

X
- Details
Name: | us-gaap_DiscontinuedOperationsAndDisposalGroupsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for the facts and circumstances leading to the completed or expected disposal, manner and timing of disposal, the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the segment in which the disposal group was reported, and the classification (whether sold or classified as held for sale) and carrying value of the assets and liabilities comprising the disposal group. Includes all disposal groups, including those classified as components of the entity (discontinued operations). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1474-107760 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1361-107760 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 144 -Paragraph 43-48 -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 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6892542&loc=d3e957-107759 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1436-107760 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6391110&loc=d3e2941-110230 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 45 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=8077374&loc=d3e2443-110228 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 45 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6892542&loc=d3e1012-107759 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1510-107760 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 45 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6892542&loc=d3e1020-107759 + Details
Name: | us-gaap_DisposalGroupsIncludingDiscontinuedOperationsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration