Quarterly report pursuant to Section 13 or 15(d)

Reconciliation of Net Income to Adjusted EBITDA (Detail)

v3.19.3
Reconciliation of Net Income to Adjusted EBITDA (Detail) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Jun. 30, 2019
Mar. 31, 2019
Sep. 30, 2018
Jun. 30, 2018
Mar. 31, 2018
Sep. 30, 2019
Sep. 30, 2018
Segment Reporting Information [Line Items]                
Net income $ 31,955 $ 101,861 $ 33,193 $ 50,621 $ 82,464 $ 62,177 $ 167,009 $ 195,262
Add (deduct):                
Income taxes 14,053     16,169     64,152 59,592
Interest expense [1],[2] 24,967     27,144     75,037 82,725
Other income, net [3] (9,970)     (8,810)     (25,079) (15,247)
Loss on debt amendments and refinancing               1,484
Distributions and other cash distributions from equity investees             28,163 21,041
Depreciation and amortization [1] 67,760     64,971     196,795 193,656
Impairment of long-lived assets 27,304     1,641     45,382 5,020
Loss on disposal of assets and other 2,453     7,826     8,057 28,666
Non-cash rent expens [4] (1,102)           (3,252)  
Deferred lease expenses [1]       (20)       (952)
Amortization of long-term prepaid rents [1]       578       1,814
Share based awards compensation expense 3,840     3,486     10,486 10,364
Adjusted EBITDA [1] 169,758     168,392     566,750 583,425
Digital Cinema Implementation Partners                
Add (deduct):                
Distributions and other cash distributions from equity investees [5] 2,694           7,912 5,201
Other Investees                
Add (deduct):                
Distributions and other cash distributions from equity investees [6] $ 5,804     $ 4,786     $ 20,251 $ 15,840
[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] Includes amortization of debt issue costs.
[3] Includes interest income, foreign currency exchange loss, equity in income of affiliates and interest expense - NCM and excludes distributions from NCM.
[4] 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
[5] See discussion of cash distributions from DCIP, which were recorded as a reduction of the Company’s investment in DCIP, at Note 9.
[6] Includes cash distributions received from equity investees, other than those from DCIP noted above, 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.