Annual report pursuant to Section 13 and 15(d)

GOODWILL AND OTHER INTANGIBLE ASSETS - NET

v3.10.0.1
GOODWILL AND OTHER INTANGIBLE ASSETS - NET
12 Months Ended
Dec. 31, 2018
Goodwill And Intangible Assets Disclosure [Abstract]  
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, 2016 (1)

 

$

1,164,163

 

 

$

98,800

 

 

$

1,262,963

 

Acquisitions of theatres (2)

 

 

9,878

 

 

 

13,211

 

 

 

23,089

 

Foreign currency translation adjustments

 

 

 

 

(1,973

)

 

 

(1,973

)

Balance at December 31, 2017 (1)

 

$

1,174,041

 

 

$

110,038

 

 

$

1,284,079

 

Acquisitions of theatres (3)

 

 

 

 

 

7,204

 

 

 

7,204

 

Foreign currency translation adjustments

 

 

 

 

 

(14,959

)

 

 

(14,959

)

Balance at December 31, 2018 (1)

 

$

1,174,041

 

 

$

102,283

 

 

$

1,276,324

 

 

(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.

(2)

Acquisition of theatres in the U.S. and international markets.

(3)

Amount represents preliminary purchase price allocation for theatres acquired in Brazil.

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

 

 

 

Balance at

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance at

 

 

 

January 1,

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31,

 

 

 

2017

 

 

Additions (1)

 

 

Amortization

 

 

Other (2)

 

 

2017

 

Intangible assets with finite lives:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross carrying amount

 

$

99,796

 

 

$

11,584

 

 

$

 

 

$

(5,485

)

 

$

105,895

 

Accumulated amortization

 

 

(64,606

)

 

 

 

 

 

(5,563

)

 

 

1,300

 

 

 

(68,869

)

Total net intangible assets with finite lives

 

$

35,190

 

 

$

11,584

 

 

$

(5,563

)

 

$

(4,185

)

 

$

37,026

 

Intangible assets with indefinite lives:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Tradename

 

 

299,709

 

 

 

 

 

 

 

 

 

26

 

 

 

299,735

 

Total intangible assets — net

 

$

334,899

 

 

$

11,584

 

 

$

(5,563

)

 

$

(4,159

)

 

$

336,761

 

 

 

 

Balance at

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance at

 

 

 

January 1,

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31,

 

 

 

2018

 

 

Additions (3)

 

 

Amortization

 

 

Other (2)

 

 

2018

 

Intangible assets with finite lives:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross carrying amount

 

$

105,895

 

 

$

1,203

 

 

$

 

 

$

(1,842

)

 

$

105,256

 

Accumulated amortization

 

 

(68,869

)

 

 

 

 

 

(5,734

)

 

 

 

 

 

(74,603

)

Total net intangible assets with finite lives

 

$

37,026

 

 

$

1,203

 

 

$

(5,734

)

 

$

(1,842

)

 

$

30,653

 

Intangible assets with indefinite lives:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Tradename and other

 

 

299,735

 

 

 

853

 

 

 

 

 

 

(331

)

 

 

300,257

 

Total intangible assets — net

 

$

336,761

 

 

$

2,056

 

 

$

(5,734

)

 

$

(2,173

)

 

$

330,910

 

 

(1)

Activity for 2017 represent fair values allocated to intangible assets acquired as part of acquisitions of theatres in the U.S. and international markets.

(2)

Amounts represent foreign currency translation adjustments and the write-off of certain lease intangibles for theatre closures and lease amendments.  

(3)

Amount for intangible assets with finite lives represents preliminary purchase price allocation for theatres acquired in Brazil.

Estimated aggregate future amortization expense for intangible assets is as follows(1):

 

For the year ended December 31, 2019

 

$

4,785

 

For the year ended December 31, 2020

 

 

5,053

 

For the year ended December 31, 2021

 

 

2,904

 

For the year ended December 31, 2022

 

 

2,812

 

For the year ended December 31, 2023

 

 

3,161

 

Thereafter

 

 

11,938

 

Total

 

$

30,653

 

(1)  Represents amounts before the adoption of ASC Topic 842 – Leases.  See Note 2 for discussion of the expected impact of adoption.