Quarterly report pursuant to Section 13 or 15(d)

Segments (Tables)

v3.7.0.1
Segments (Tables)
3 Months Ended
Mar. 31, 2017
Selected Financial Information by Reportable Operating Segment

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

 

     Three Months Ended
March 31,
 
     2017      2016  

Revenues

     

U.S.

   $ 581,209      $ 543,915  

International

     202,068        164,175  

Eliminations

     (3,667      (3,221
  

 

 

    

 

 

 

Total revenues

   $ 779,610      $ 704,869  
  

 

 

    

 

 

 

Adjusted EBITDA (1)

     

U.S.

   $ 164,654      $ 143,633  

International

     47,226        41,014  
  

 

 

    

 

 

 

Total Adjusted EBITDA

   $ 211,880      $ 184,647  
  

 

 

    

 

 

 

Capital expenditures

     

U.S.

   $ 78,817      $ 41,198  

International

     12,370        6,547  
  

 

 

    

 

 

 

Total capital expenditures

   $ 91,187      $ 47,745  
  

 

 

    

 

 

 

 

(1) Distributions from equity method investees 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  
   March 31,  
     2017      2016  

Net income

   $ 80,194      $ 59,046  

Add (deduct):

     

Income taxes

     44,400        33,459  

Interest expense (1)

     26,369        28,059  

Other income (2)

     (12,982      (10,380

Loss on early retirement of debt

     —          13,186  

Other cash distributions from equity investees (3)

     12,049        8,086  

Depreciation and amortization

     57,356        49,329  

Impairment of long-lived assets

     273        492  

(Gain) loss on sale of assets and other

     834        (1,779

Deferred lease expenses

     (347      (440

Amortization of long-term prepaid rents

     493        471  

Share based awards compensation expense

     3,241        5,118  
  

 

 

    

 

 

 

Adjusted EBITDA

   $ 211,880      $ 184,647  
  

 

 

    

 

 

 

 

(1) Includes amortization of debt issue costs.
(2) Includes interest income, foreign currency exchange gain and equity in income of affiliates and excludes distributions from NCM.
(3) Includes cash distributions received from equity investees that were recorded as a reduction of the respective investment balances.
Selected Financial Information by Geographic Area

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

 

     Three Months Ended  
     March 31,  

Revenues

   2017      2016  

U.S.

   $ 581,209      $ 543,915  

Brazil

     94,699        71,509  

Other international countries

     107,369        92,666  

Eliminations

     (3,667      (3,221
  

 

 

    

 

 

 

Total

   $ 779,610      $ 704,869  
  

 

 

    

 

 

 

 

Theatre Properties and Equipment-net

   March 31,
2017
     December 31,
2016
 

U.S.

   $ 1,323,382      $ 1,306,643  

Brazil

     199,552        197,896  

Other international countries

     206,302        199,997  
  

 

 

    

 

 

 

Total

   $ 1,729,236      $ 1,704,536