Annual report pursuant to Section 13 and 15(d)

NONCONTROLLING INTERESTS IN SUBSIDIARIES

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NONCONTROLLING INTERESTS IN SUBSIDIARIES
12 Months Ended
Dec. 31, 2015
NONCONTROLLING INTERESTS IN SUBSIDIARIES
15. NONCONTROLLING INTERESTS IN SUBSIDIARIES

Noncontrolling interests in subsidiaries of the Company were as follows at December 31:

 

     December 31,  
     2014      2015  

Cinemark Partners II — 24.6% interest (in one theatre)

   $ 7,769       $ 7,753   

Laredo Theatres — 25% interest (in two theatres)

     1,112         1,761   

Greeley Ltd. — 49.0% interest (in one theatre)

     589         740   

Other

     859         851   
  

 

 

    

 

 

 

Total

   $ 10,329       $ 11,105   
  

 

 

    

 

 

 

During August 2013, the Company purchased the 49.9% noncontrolling interest share of one of its Brazilian subsidiaries, Adamark Cinemas S.A. (“Adamark”), for approximately $5,621 in cash. Adamark had investments in two of the Company’s Brazilian theatres. The increase in the Company’s ownership interest in the Brazilian subsidiary was accounted for as an equity transaction in accordance with ASC Topic 810-10-45-23. The Company recorded a decrease in additional paid-in-capital of approximately $4,618, which represented the difference between the cash paid and the book value of the Brazilian subsidiary’s noncontrolling interest account. As a result of this transaction, the Company owns 100% of the shares in Adamark.

Below is a summary of the impact of changes in the Company’s ownership interest in its subsidiaries on its equity:

 

     Year ended December 31,  
     

2013

     2014      2015  

Net income attributable to Cinemark Holdings, Inc.

   $ 148,470       $ 192,610       $ 216,869   
  

 

 

    

 

 

    

 

 

 

Transfers from noncontrolling interests

        

Decrease in Cinemark Holdings, Inc. additional paid-in-capital for the buyout of Adamark non-controlling interest

     (4,618      —           —     
  

 

 

    

 

 

    

 

 

 

Net transfers from non-controlling interests

     (4,618      —           —     
  

 

 

    

 

 

    

 

 

 

Change from net income attributable to Cinemark Holdings, Inc. and transfers from noncontrolling interests

   $ 143,852       $ 192,610       $ 216,869