Quarterly report pursuant to Section 13 or 15(d)

Segments (Tables)

v2.4.0.8
Segments (Tables)
9 Months Ended
Sep. 30, 2014
Selected Financial Information by Reportable Operating Segment

Below is a breakdown of selected financial information by reportable operating segment:

 

     Three Months Ended
September 30,
    Nine Months Ended
September 30,
 
     2014     2013     2014     2013  

Revenues

        

U.S.

   $ 463,854      $ 529,426      $ 1,433,259      $ 1,412,898   

International

     186,428        231,771        543,501        627,843   

Eliminations

     (3,379     (3,631     (9,714     (9,780
  

 

 

   

 

 

   

 

 

   

 

 

 

Total revenues

   $ 646,903      $ 757,566      $ 1,967,046      $ 2,030,961   
  

 

 

   

 

 

   

 

 

   

 

 

 

Adjusted EBITDA

        

U.S. (1)

   $ 99,519      $ 132,803      $ 313,930      $ 341,579   

International

     42,220        57,370        125,719        142,874   
  

 

 

   

 

 

   

 

 

   

 

 

 

Total Adjusted EBITDA

   $ 141,739      $ 190,173      $ 439,649      $ 484,453   
  

 

 

   

 

 

   

 

 

   

 

 

 

Capital expenditures

        

U.S.

   $ 36,325      $ 35,746      $ 97,120      $ 71,533   

International

     17,280        33,354        59,048        87,955   
  

 

 

   

 

 

   

 

 

   

 

 

 

Total capital expenditures

   $ 53,605      $ 69,100      $ 156,168      $ 159,488   
  

 

 

   

 

 

   

 

 

   

 

 

 

 

(1)  Distributions from NCM are reported entirely within the U.S. operating segment.
Reconciliation of Net Income to Adjusted EBITDA

The following table sets forth a reconciliation of net income to Adjusted EBITDA:

 

     Three Months Ended     Nine Months Ended  
   September 30,     September 30,  
     2014     2013     2014     2013  

Net income

   $ 38,532      $ 80,745      $ 146,362      $ 134,644   

Add (deduct):

        

Income taxes

     25,534        43,386        70,477        62,726   

Interest expense (1)

     28,335        29,478        85,101        96,542   

Loss on early retirement of debt

     —          —          —          72,302   

Other income (2)

     (6,636     (12,795     (20,777     (17,958

Depreciation and amortization

     44,731        42,399        131,108        120,165   

Impairment of long-lived assets

     4,510        131        5,294        2,076   

(Gain) loss on sale of assets and other

     2,590        611        8,719        (2,532

Deferred lease expenses

     168        1,935        2,016        4,038   

Amortization of long-term prepaid rents

     1,000        725        1,785        2,104   

Share based awards compensation expense

     2,975        3,558        9,564        10,346   
  

 

 

   

 

 

   

 

 

   

 

 

 

Adjusted EBITDA

   $ 141,739      $ 190,173      $ 439,649      $ 484,453   
  

 

 

   

 

 

   

 

 

   

 

 

 

 

(1)  Includes amortization of debt issue costs.
(2)  Includes interest income, foreign currency exchange loss and equity in income of affiliates and excludes distributions from NCM.
Selected Financial Information by Geographic Area

Below is a breakdown of selected financial information by geographic area:

 

     Three Months Ended     Nine Months Ended  
     September 30,     September 30,  
     2014     2013     2014     2013  

Revenues

        

U.S.

   $ 463,854      $ 529,426      $ 1,433,259      $ 1,412,898   

Brazil

     83,521        87,028        256,421        251,831   

Other international countries

     102,907        144,743        287,080        376,012   

Eliminations

     (3,379     (3,631     (9,714     (9,780
  

 

 

   

 

 

   

 

 

   

 

 

 

Total

   $ 646,903      $ 757,566      $ 1,967,046      $ 2,030,961   
  

 

 

   

 

 

   

 

 

   

 

 

 

 

Theatre Properties and Equipment-net

   September 30,
2014
     December 31,
2013
 

U.S.

   $ 1,065,964       $ 1,062,471   

Brazil

     211,072         201,492   

Other international countries

     150,751         163,227   
  

 

 

    

 

 

 

Total

   $ 1,427,787       $ 1,427,190