Annual report pursuant to Section 13 and 15(d)

GOODWILL AND OTHER INTANGIBLE ASSETS - NET

v2.4.1.9
GOODWILL AND OTHER INTANGIBLE ASSETS - NET
12 Months Ended
Dec. 31, 2014
GOODWILL AND OTHER INTANGIBLE ASSETS - NET
8. GOODWILL AND OTHER INTANGIBLE ASSETS — NET

The Company’s goodwill was as follows:

 

     U.S.
Operating
Segment
     International
Operating
Segment
     Total  

Balance at December 31, 2012 (1)

   $ 956,997       $ 193,814       $ 1,150,811   

Acquisition of U.S. theatres (Note 5)

     203,827         —           203,827   

Disposition of U.S. theatres (Note 5)

     (10,353      —           (10,353

Disposition of Mexico theatres (Note 5)

     —           (33,605      (33,605

Foreign currency translation adjustments

     —           (22,590      (22,590
  

 

 

    

 

 

    

 

 

 
        

Balance at December 31, 2013 (1)

   $ 1,150,471       $ 137,619       $ 1,288,090   

Acquisition of U.S. theatres

     6,085         —           6,085   

Other acquisitions

     —           1,108         1,108   

Foreign currency translation adjustments

     —           (17,900      (17,900
  

 

 

    

 

 

    

 

 

 

Balance at December 31, 2014 (1)

   $ 1,156,556       $ 120,827       $ 1,277,383   
  

 

 

    

 

 

    

 

 

 

 

(1) 

Balances are presented net of accumulated impairment losses of $214,031 for the U.S. operating segment and $27,622 for the international operating segment.

As of December 31, intangible assets-net, consisted of the following:

 

    December 31,
2012
    Acquisitions  (2)     Amortization     Dispositions  (3)     Other (1)     December 31,
2013
 

Intangible assets with finite lives:

           

Gross carrying amount

  $ 71,921      $ 44,487      $ —        $ (8,862   $ (5,929   $ 101,617   

Accumulated amortization

    (51,354     —          (5,995     8,219        2,833        (46,297
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total net intangible assets with finite lives

  $ 20,567      $ 44,487      $ (5,995   $ (643   $ (3,096   $ 55,320   

Intangible assets with indefinite lives:

           

Tradename

    310,174        —          —          (8,711     (639     300,824   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total intangible assets — net

  $ 330,741      $ 44,487      $ (5,995   $ (9,354   $ (3,735   $ 356,144   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

 

     December 31,
2013
    Acquisitions      Amortization     Other (1)     December 31,
2014
 

Intangible assets with finite lives:

           

Gross carrying amount

   $ 101,617      $ 300       $ —        $ (1,995   $ 99,922   

Accumulated amortization

     (46,297     —           (5,947     12       (52,232
  

 

 

   

 

 

    

 

 

   

 

 

   

 

 

 

Total net intangible assets with finite lives

   $ 55,320      $ 300       $ (5,947   $ (1,983   $ 47,690   

Intangible assets with indefinite lives:

           

Tradename

     300,824        —           —          (490 )     300,334   
  

 

 

   

 

 

    

 

 

   

 

 

   

 

 

 

Total intangible assets — net

   $ 356,144      $ 300       $ (5,947   $ (2,473 )   $ 348,024   
  

 

 

   

 

 

    

 

 

   

 

 

   

 

 

 

 

(1) 

Activity for 2013 consists of $708 for impairment of a favorable lease related to one U.S. theatre and foreign currency translation adjustments. Activity for 2014 primarily consists of $479 for impairment of a tradename intangible asset related to one U.S. theatre and foreign currency translation adjustments.

(2) 

See Note 5.

(3) 

Reflects disposition of three Rave theatres and the Company’s Mexico theatres (see Note 5).

Estimated aggregate future amortization expense for intangible assets is as follows:

 

For the year ended December 31, 2015

   $ 5,798   

For the year ended December 31, 2016

     5,585   

For the year ended December 31, 2017

     5,052   

For the year ended December 31, 2018

     5,008   

For the year ended December 31, 2019

     4,016   

Thereafter

     22,231   
  

 

 

 

Total

   $ 47,690