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, 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 |
|
Acquisition of Brazil
theatre
|
|
|
— |
|
|
|
356 |
|
|
|
356 |
|
Foreign currency
translation adjustments
|
|
|
— |
|
|
|
(30,191 |
) |
|
|
(30,191 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance at
December 31, 2015 (1)
|
|
$ |
1,156,556 |
|
|
$ |
90,992 |
|
|
$ |
1,247,548 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(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,
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 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31,
2014 |
|
|
Amortization |
|
|
Other (2) |
|
|
December 31,
2015 |
|
Intangible assets with
finite lives:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross carrying
amount
|
|
$ |
99,922 |
|
|
$ |
— |
|
|
$ |
46 |
|
|
$ |
99,968 |
|
Accumulated
amortization
|
|
|
(52,232 |
) |
|
|
(5,716 |
) |
|
|
(1,758 |
) |
|
|
(59,706 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total net intangible
assets with finite lives
|
|
$ |
47,690 |
|
|
$ |
(5,716 |
) |
|
$ |
(1,712 |
) |
|
$ |
40,262 |
|
Intangible assets with
indefinite lives:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Tradename
|
|
|
300,334 |
|
|
|
— |
|
|
|
(952 |
) |
|
|
299,382 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total intangible assets
— net
|
|
$ |
348,024 |
|
|
$ |
(5,716 |
) |
|
$ |
(2,664 |
) |
|
$ |
339,644 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1) |
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) |
Activity for 2015 primarily consists of the write-off of
intangible assets for closed theatres, the write-off of a vendor
contract intangible asset, $992 for impairment of a favorable lease
and foreign currency translation adjustments.
|
Estimated aggregate
future amortization expense for intangible assets is as
follows:
|
|
|
|
|
For the year ended
December 31, 2016
|
|
$ |
5,389 |
|
For the year ended
December 31, 2017
|
|
|
4,857 |
|
For the year ended
December 31, 2018
|
|
|
4,857 |
|
For the year ended
December 31, 2019
|
|
|
3,977 |
|
For the year ended
December 31, 2020
|
|
|
4,252 |
|
Thereafter
|
|
|
16,930 |
|
|
|
|
|
|
Total
|
|
$ |
40,262 |
|
|
|
|
|
|
|