Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Operating activities      
Net income $ 215,305 [1] $ 266,019 $ 256,827
Adjustments to reconcile net income to cash provided by operating activities:      
Depreciation 257,826 235,093 207,091
Amortization of intangible and other assets and favorable/unfavorable leases 3,336 2,420 1,980
Amortization of long-term prepaid rents 2,382 2,274 1,826
Amortization of debt issue costs 5,561 6,197 5,492
Amortization of deferred revenues, deferred lease incentives and other (21,706) (16,211) (16,731)
Impairment of long-lived assets 32,372 15,084 2,836
Share based awards compensation expense 14,336 12,681 13,394
Loss on disposal of assets and other 38,702 22,812 20,459
Loss on debt amendments and refinancing 1,484 521 13,445
Deferred lease expenses (1,320) (1,268) (990)
Reclassification of cumulative translation adjustments 518 (1,551)  
Equity in income of affiliates (39,242) (35,985) (31,962)
Deferred income tax expenses 23,187 (15,015) (5,467)
Distributions from equity investees [2] 30,143 25,973 21,916
Changes in other assets and liabilities:      
Inventories (1,813) (541) (1,007)
Accounts receivable (4,584) (13,195) (706)
Income tax receivable 8,442 (4,363) 15,510
Prepaid expenses and other 1,419 (775) (2,267)
Deferred charges and other assets - net (6,303) (4,956) (1,619)
Accounts payable and accrued expenses (11,408) 23,405 (30,516)
Income tax payable 6,670 438 (2,261)
Liabilities for uncertain tax positions (10,066) 2,041 1,182
Other long-term liabilities 11,674 7,900 (5,522)
Net cash provided by operating activities 556,915 528,998 462,910
Investing activities      
Additions to theatre properties and equipment and other (346,073) (380,862) (326,908)
Proceeds from sale of theatre properties and equipment and other 3,920 15,098 3,570
Acquisitions of theatres in the U.S. and international markets, net of cash acquired (11,289) (40,997) (15,300)
Acquisition of screen advertising business     (1,450)
Proceeds from sale of marketable securities     13,451
Investment in joint ventures and other, net (19,535) (3,715) (1,132)
Net cash used for investing activities (451,370) (410,476) (327,769)
Financing activities      
Dividends paid to stockholders (149,492) (135,079) (125,490)
Payroll taxes paid as a result of restricted stock withholdings (2,905) (2,943) (6,834)
Proceeds from issuance of Senior Notes, net of discount     222,750
Retirement of Senior Subordinated Notes     (200,000)
Repayments of long-term debt (7,984) (5,671) (16,605)
Payment of debt issue costs (5,218) (1,146) (7,217)
Fees paid related to debt amendments (704) (521) (11,076)
Payments on capital leases (25,353) (21,725) (19,343)
Proceeds from financing lease   10,200  
Purchases of non-controlling interests     (450)
Other (992) (1,123) 554
Net cash used for financing activities (192,648) (158,008) (163,711)
Effect of exchange rate changes on cash and cash equivalents (9,222) 798 1,266
Decrease in cash and cash equivalents (96,325) (38,688) (27,304)
Cash and cash equivalents:      
Beginning of period 522,547 561,235 588,539
End of period 426,222 $ 522,547 $ 561,235
NCM      
Investing activities      
Acquisition of NCM common units $ (78,393)    
[1] See Note 3 for discussion of the adoption of ASC 606 and its impact on the income statement beginning in 2018.
[2] Includes distributions received from equity investees that were recorded as a reduction of the respective investment balances.