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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Operating activities        
Net income $ 31,955 $ 50,621 $ 167,009 $ 195,262
Adjustments to reconcile net income to cash provided by operating activities:        
Depreciation     193,032 191,236
Amortization of intangible and other assets and favorable/unfavorable leases     3,763 2,420
Amortization of long-term prepaid rents [1]   578   1,814
Amortization of debt issue costs     3,983 4,236
Loss on debt amendments and refinancing       1,484
Amortization of deferred revenues, deferred lease incentives and other     (12,203) (16,264)
Impairment of long-lived assets 27,304 1,641 45,382 5,020
Share based awards compensation expense 3,840 3,486 10,486 10,364
Loss on disposal of assets and other 2,453 7,826 8,057 28,666
Non-cash rent expense [2] (1,102)   (3,252)  
Deferred lease expenses [1]   (20)   (952)
Equity in income of affiliates (15,139) (14,158) (33,982) (29,208)
Deferred income tax expenses     (5,314) 9,096
Distributions from equity investees     28,163 21,041
Changes in assets and liabilities and other     (7,909) (74,161)
Net cash provided by operating activities     397,215 350,054
Investing activities        
Additions to theatre properties and equipment (71,343) (83,373) (186,512) (245,962)
Acquisition of theatres in the U.S. and international markets, net of cash acquired     (10,170) (11,289)
Proceeds from sale of theatre properties and equipment and other     377 3,557
Investment in joint ventures and other, net       (20,442)
Net cash used for investing activities     (196,305) (352,529)
Financing activities        
Dividends paid to stockholders     (119,452) (112,108)
Payroll taxes paid as a result of stock withholdings     (2,247) (2,905)
Repayments of long-term debt     (4,947) (4,946)
Payment of debt issue costs       (5,103)
Fees paid related to debt amendments       (704)
Payments on finance and capital leases     (10,830) (18,778)
Other     (1,588)  
Net cash used for financing activities     (139,064) (144,544)
Effect of exchange rate changes on cash and cash equivalents     (5,296) (8,732)
Increase (decrease) in cash and cash equivalents     56,550 (155,751)
Cash and cash equivalents:        
Beginning of period     426,222 522,547
End of period 482,772 366,796 482,772 366,796
NCM        
Adjustments to reconcile net income to cash provided by operating activities:        
Equity in income of affiliates $ (9,050) $ (6,830) $ (14,062) (11,341)
Investing activities        
Acquisition of NCM common units       $ (78,393)
[1] Amounts for the three and nine months ended September 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

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