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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Operating activities        
Net income $ 101,861 $ 82,464 $ 135,054 $ 144,641
Adjustments to reconcile net income to cash provided by operating activities:        
Depreciation     126,551 126,981
Amortization of intangible and other assets and favorable/unfavorable leases     2,484 1,704
Amortization of long-term prepaid rents [1]   597   1,236
Amortization of debt issue costs     2,655 2,913
Loss on debt amendments and refinancing       1,484
Amortization of deferred revenues, deferred lease incentives and other     (8,020) (10,762)
Impairment of long-lived assets 12,494 2,788 18,078 3,379
Share based awards compensation expense 3,676 3,452 6,646 6,878
Loss on disposal of assets and other 1,805 16,901 5,604 20,840
Non-cash rent expense [2] (1,331)   (2,150)  
Deferred lease expenses [1]   (449)   (932)
Equity in income of affiliates (8,439) (6,414) (18,843) (15,050)
Deferred income tax expenses     5,840 7,669
Distributions from equity investees [3] 5,323 3,932 19,665 16,255
Changes in assets and liabilities and other     10,015 (27,333)
Net cash provided by operating activities     303,579 279,903
Investing activities        
Additions to theatre properties and equipment (57,600) (82,426) (115,169) (162,589)
Acquisition of theatres in the U.S. and international markets, net of cash acquired     (10,170) (11,508)
Proceeds from sale of theatre properties and equipment and other     153 2,135
Investment in joint ventures and other, net       (19,467)
Net cash used for investing activities     (125,186) (191,429)
Financing activities        
Dividends paid to stockholders     (79,620) (74,723)
Payroll taxes paid as a result of stock withholdings     (2,247) (2,905)
Repayments of long-term debt     (3,298) (3,298)
Payment of debt issue costs       (5,103)
Fees paid related to debt amendments       (704)
Payments on finance and capital leases     (7,131) (12,377)
Other     (1,294)  
Net cash used for financing activities     (93,590) (99,110)
Effect of exchange rate changes on cash and cash equivalents     367 (7,199)
Increase (decrease) in cash and cash equivalents     85,170 (17,835)
Cash and cash equivalents:        
Beginning of period     426,222 522,547
End of period $ 511,392 $ 504,712 $ 511,392 $ 504,712
[1] Amounts for the three and six months ended June 30, 2019 were impacted by the adoption of ASC Topic 842 and the resulting change in the classification of certain of the Company’s leases
[2] The adoption of ASC Topic 842 impacted how the Company amortizes lease related assets and liabilities such as deferred lease expenses, favorable and unfavorable lease intangible assets, long-term prepaid rents and deferred lease incentives.  Beginning January 1, 2019, these items are amortized to facility lease expense for theatre operating leases and utilities and other for equipment operating leases.  See Note 3 for discussion of the impact of ASC Topic 842
[3] Includes cash distributions received from equity investees that were recorded as a reduction of the respective investment balances (see Notes 8 and 9).  These distributions are reported entirely within the U.S. operating segment.

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