|
Consolidated Statement of Cash Flows (In thousands) |
(Unaudited) 39 Weeks Ended December 29, 2011 |
|||
|---|---|---|---|---|
| (Predecessor) |
||||
|
Cash flows from operating activities: |
||||
|
Net loss |
$ | (82,715 | ) | |
|
Adjustment to reconcile net loss to net cash provided by operating activities: |
||||
|
Depreciation and amortization |
156,914 | |||
|
Impairment of RealD Inc. investment |
17,751 | |||
|
Theatre and other closure expense |
5,687 | |||
|
Loss on dispositions |
1,444 | |||
|
Stock-based compensation |
1,471 | |||
|
Equity in earnings from non-consolidated entities, net of distributions |
18,731 | |||
|
Change in assets and liabilities |
||||
|
Receivables |
(46,862 | ) | ||
|
Other assets |
(1,958 | ) | ||
|
Accounts payable |
38,266 | |||
|
Accrued expenses and other liabilities |
36,078 | |||
|
Other, net |
(7,550 | ) | ||
| | | | | |
|
Net cash provided by operating activities |
137,257 | |||
| | | | | |
|
Cash flows from investing activities: |
||||
|
Capital expenditures |
(85,083 | ) | ||
|
Investments in non-consolidated entities, net |
(23,835 | ) | ||
|
Other, net |
944 | |||
| | | | | |
|
Net cash used in investing activities |
(107,974 | ) | ||
| | | | | |
|
Cash flows from financing activities: |
||||
|
Principal payments under Term Loan |
(3,250 | ) | ||
|
Principal payments under capital and financing lease obligations |
(2,645 | ) | ||
|
Deferred financing costs |
(667 | ) | ||
|
Change in construction payables |
(1,298 | ) | ||
|
Dividends paid to Holdings |
(109,581 | ) | ||
| | | | | |
|
Net cash used in financing activities |
(117,441 | ) | ||
|
Effect of exchange rate changes on cash and equivalents |
520 | |||
| | | | | |
|
Net increase in cash and equivalents |
(87,638 | ) | ||
|
Cash and equivalents at beginning of period |
301,158 | |||
| | | | | |
|
Cash and equivalents at end of period |
$ | 213,520 | ||
| | | | | |
| | | | | |
|
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION: |
||||
|
Cash paid during the period for: |
||||
|
Interest |
$ | 138,849 | ||
|
Income taxes, net |
802 | |||
|
(In thousands) |
(Unaudited) 39 Weeks Ended December 29, 2011 |
|||
|---|---|---|---|---|
| (Predecessor) |
||||
|
Revenues |
||||
|
Admissions |
$ | 1,295,469 | ||
|
Food and beverage |
518,081 | |||
|
Other theatre |
71,984 | |||
| | | | | |
|
Total revenues |
1,885,534 | |||
| | | | | |
|
Operating costs and expenses |
||||
|
Film exhibition costs |
694,863 | |||
|
Food and beverage costs |
70,961 | |||
|
Operating expense |
525,431 | |||
|
Rent |
334,607 | |||
|
General and administrative: |
||||
|
Merger, acquisition and transaction costs |
1,179 | |||
|
Management fee |
3,750 | |||
|
Other |
36,065 | |||
|
Depreciation and amortization |
155,970 | |||
| | | | | |
|
Operating costs and expenses |
1,822,826 | |||
| | | | | |
|
Operating income |
62,708 | |||
|
Other expense (income) |
||||
|
Other expense |
377 | |||
|
Interest expense: |
||||
|
Corporate borrowings |
120,265 | |||
|
Capital and financing lease obligations |
4,480 | |||
|
Equity in earnings of non-consolidated entities |
(1,864 | ) | ||
|
Investment expense |
17,666 | |||
| | | | | |
|
Total other expense |
140,924 | |||
| | | | | |
|
Loss from continuing operations before income taxes |
(78,216 | ) | ||
|
Income tax provision |
1,510 | |||
| | | | | |
|
Loss from continuing operations |
(79,726 | ) | ||
|
Loss from discontinued operations, net of income taxes |
(2,989 | ) | ||
| | | | | |
|
Net loss |
$ | (82,715 | ) | |
| | | | | |
| | | | | |
|
Consolidated Statement of Comprehensive Loss |
||||
|
Net loss |
$ | (82,715 | ) | |
|
Foreign currency translation adjustment, net of tax |
4,837 | |||
|
Pension and other benefit adjustments: |
||||
|
Amortization of net loss included in net periodic benefit costs, net of tax |
4 | |||
|
Amortization or prior service credit included in net periodic benefit costs, net of tax |
(668 | ) | ||
|
Unrealized loss on marketable securities: |
||||
|
Unrealized holding loss arising during the period, net of tax |
(23,791 | ) | ||
|
Less: reclassification adjustment for loss included in investment expense, net of tax |
17,724 | |||
| | | | | |
|
Other comprehensive loss |
(1,894 | ) | ||
| | | | | |
|
Total comprehensive loss |
$ | (84,609 | ) | |
| | | | | |
| | | | | |
|
(In thousands) |
12 Months Ended December 31, 2013 |
From Inception August 31, 2012 Through December 31, 2012 |
March 30, 2012 through August 30, 2012 |
52 Weeks Ended March 29, 2012 |
|||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| (Successor) |
(Successor) |
(Predecessor) |
(Predecessor) |
||||||||||||
|
Impairment of long-lived assets |
$ | — | $ | — | $ | — | $ | 285 | |||||||
|
Equity in (earnings) losses of non-consolidated entities |
— | — | — | 2,742 | |||||||||||
|
Investment expense (income) |
1,370 | — | — | 17,751 | |||||||||||
| | | | | | | | | | | | | | | | |
|
Total impairment losses |
$ | 1,370 | $ | — | $ | — | $ | 20,778 | |||||||
| | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | |
|
(In thousands) |
12 Months Ended December 31, 2013 |
From Inception August 31, 2012 Through December 31, 2012 |
March 30, 2012 through August 30, 2012 |
52 Weeks Ended March 29, 2012 |
|||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| (Successor) |
(Successor) |
(Predecessor) |
(Predecessor) |
||||||||||||
|
(Gain) loss on redemption and modification of Senior Secured Credit Facility |
$ | (130 | ) | $ | — | $ | — | $ | 383 | ||||||
|
Loss on redemption of 8% Senior Subordinated Notes due 2014 |
— | — | 1,297 | 640 | |||||||||||
|
Business interruption insurance recoveries |
(1,285 | ) | — | (337 | ) | (12 | ) | ||||||||
|
Other expense (income) |
— | 49 | — | 391 | |||||||||||
| | | | | | | | | | | | | | | | |
|
Other expense (income) |
$ | (1,415 | ) | $ | 49 | $ | 960 | $ | 1,402 | ||||||
| | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | |