Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF INCOME

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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Revenues      
Total revenues $ 3,283,099 [1] $ 3,221,735 $ 2,991,547
Cost of operations      
Film rentals and advertising 1,003,832 999,755 966,510
Concession supplies 206,441 180,974 166,320
Salaries and wages 410,086 383,860 354,510
Facility lease expense 346,094 323,316 328,197
Utilities and other 474,711 448,070 355,041
General and administrative expenses 173,384 165,173 153,278
Depreciation and amortization [2] 261,155 261,162 237,513
Impairment of long-lived assets 57,001 32,372 15,084
Loss on disposal of assets and other 12,008 38,702 22,812
Total cost of operations 2,944,712 2,833,384 2,599,265
Operating income 338,387 [1] 388,351 392,282
Other income (expense)      
Interest expense [2],[3] (99,941) (109,994) (105,918)
Loss on debt amendments and refinancing   (1,484) (521)
Interest income 12,589 10,614 6,249
Foreign currency exchange gain (loss) (3,394) (11,660) 893
Equity in income of affiliates 41,870 39,242 35,985
Total other expense (64,627) (77,617) (46,905)
Income before income taxes 273,760 310,734 345,377
Income taxes 79,912 95,429 79,358
Net income 193,848 [1] 215,305 266,019
Less: Net income attributable to noncontrolling interests 2,462 1,478 1,839
Net income attributable to Cinemark Holdings, Inc. $ 191,386 [1] $ 213,827 $ 264,180
Weighted average shares outstanding      
Basic 116,306 116,054 115,766
Diluted 116,606 116,342 116,059
Earnings per share attributable to Cinemark Holdings, Inc.'s common stockholders      
Basic $ 1.63 [1] $ 1.83 $ 2.26
Diluted $ 1.63 [1] $ 1.83 $ 2.26
NCM      
Other income (expense)      
Distributions from NCM $ 12,873 $ 15,389 $ 16,407
Interest expense - NCM (28,624) (19,724)  
Admissions      
Revenues      
Total revenues 1,805,321 1,834,173 1,794,982
Concession      
Revenues      
Total revenues 1,161,083 1,108,793 1,038,788
Other      
Revenues      
Total revenues $ 316,695 $ 278,769 $ 157,777
[1] See Note 3 for discussion of the impact of ASC 842 that was effective January 1, 2019.
[2] Amounts for the year ended December 31, 2019 were impacted by the adoption of ASC Topic 842 and the resulting change in the classification of certain of the Company’s leases.  See Note 3 for further discussion.
[3] Includes amortization of debt issue costs.