Annual report pursuant to Section 13 and 15(d)

OTHER INVESTMENTS (Tables)

v3.3.1.900
OTHER INVESTMENTS (Tables)
12 Months Ended
Dec. 31, 2015
Other Investments

The Company had the following other investments at December 31:

 

     2014      2015  

Digital Cinema Implementation Partners (“DCIP”), equity method investment

   $ 51,277       $ 71,579   

RealD, Inc. (“RealD”), investment in marketable security

     14,429         12,900   

AC JV, LLC, equity method investment

     7,899         7,269   

Digital Cinema Distribution Coalition (“DCDC”), equity method investment

     2,438         2,562   

Other

     1,615         663   
  

 

 

    

 

 

 

Total

   $ 77,658       $ 94,973   
  

 

 

    

 

 

 
Summary of Activity of Investments

Below is a summary of activity for each of the investments for the years ended December 31, 2013, 2014 and 2015:

 

     DCIP     RealD     AC JV,
LLC
    DCDC     Other     Total  

Balance at January 1, 2013

   $ 23,012      $ 13,707      $ —        $ 5      $ 1,477      $ 38,201   

Cash contributions

     3,232        —          268        2,721        —          6,221   

Issuance of promissory note to NCM

     —          —          8,333        —          —          8,333   

Equity in income (loss)

     11,241        —          —          (137     —          11,104   

Equity in other comprehensive income

     548        —          —          —          —          548   

Adjustment for gain recognized by NCM

     —          —          (2,175     —          —          (2,175

Unrealized holding loss

     —          (3,264     —          —          —          (3,264

Other

     —          —          —          —          689        689   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Balance at December 31, 2013

   $ 38,033      $ 10,443      $ 6,426      $ 2,589      $ 2,166      $ 59,657   

Cash contributions

     2,188        —          —          —          —          2,188   

Equity in income (loss)

     15,279        —          1,473        (151     —          16,601   

Equity in other comprehensive loss

     (219     —          —          —          —          (219

Unrealized holding gain

     —          3,986        —          —          —          3,986   

Cash distributions received

     (4,004     —          —          —          —          (4,004

Other

     —          —          —          —          (551     (551
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Balance at December 31, 2014

   $ 51,277      $ 14,429      $ 7,899      $ 2,438      $ 1,615      $ 77,658   

Cash contributions

     3,211        —          —          —          500        3,711   

Equity in income

     18,522        —          970        124        —          19,616   

Equity in other comprehensive loss

     (384     —          —          —          —          (384

Unrealized holding loss

     —          (1,529     —          —          —          (1,529

Sale of investment in Taiwan (1)

     —          —          —          —          (1,383     (1,383

Cash distributions received

     (1,047     —          (1,600     —          —          (2,647

Other

     —          —          —          —          (69     (69
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Balance at December 31, 2015

   $ 71,579      $ 12,900      $ 7,269      $ 2,562      $ 663      $ 94,973   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

 

(1) 

The Company sold its investment in a Taiwan joint venture for approximately $2,634, resulting in a gain of $1,251, which is included in (gain) loss on sale of assets and other for the year ended December 31, 2015.

Transactions with DCIP

The Company had the following transactions with DCIP during the years ended December 31, 2013, 2014 and 2015:

 

     Year Ended December 31,  
     2013      2014      2015  

Equipment lease payments

   $ 3,853       $ 4,012       $ 4,474   

Warranty reimbursements from DCIP

   $ (1,893    $ (3,169    $ (4,329
NCM  
Summary Financial Information

The tables below present summary financial information for NCM for the periods indicated (financial information for the year ended December 31, 2015 is not yet available):

 

     Year Ended      Nine  Months
Ended

October 1, 2015
 
     December 26, 2013      January 1, 2015     

Gross revenues

   $ 462,815       $ 393,994       $ 310,061   

Operating income

   $ 202,019       $ 159,624       $ 40,442   

Net income

   $ 162,870       $ 96,309       $ 38,519   

 

     As of
January 1, 2015
     As of
October 1, 2015
 

Total assets

   $  681,107       $ 700,326   

Total liabilities

   $ 998,529       $  1,030,243   
Digital Cinema Implementation Partners LLC  
Summary Financial Information

Below is summary financial information for DCIP as of and for the years ended December 31, 2013, 2014 and 2015.

 

     Year ended December 31,  
     2013      2014      2015  

Net operating revenue

   $ 182,659       $ 170,724       $ 171,203   

Operating income

   $ 116,235       $ 101,956       $ 103,449   

Net income

   $ 48,959       $ 61,293       $ 79,255   

 

     As of  
     December 31,
2014
     December 31,
2015
 

Total assets

   $  1,097,467       $  1,004,292   

Total liabilities

   $ 845,319       $ 674,727