Annual report pursuant to Section 13 and 15(d)

NONCONTROLLING INTERESTS IN SUBSIDIARIES

v3.6.0.2
NONCONTROLLING INTERESTS IN SUBSIDIARIES
12 Months Ended
Dec. 31, 2016
NONCONTROLLING INTERESTS IN SUBSIDIARIES
13. NONCONTROLLING INTERESTS IN SUBSIDIARIES

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

 

     December 31,  
     2015      2016  

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

   $ 7,753      $ 8,249  

Laredo Theatres — 25% interest (in two theatres)

     1,761        1,695  

Greeley Ltd. — 49% interest (in one theatre)

     740        689  

Other

     851        509  
  

 

 

    

 

 

 

Total

   $ 11,105      $ 11,142  
  

 

 

    

 

 

 

During December 2016 the Company purchased the remaining 25% noncontrolling interest of one of its Chilean subsidiaries, Flix Impirica S.A. (“Flix Impirica”), for approximately $450 in cash. The increase in the Company’s ownership interest in the Chilean 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 $27, which represented the difference between the cash paid and the book value of the Chilean subsidiary’s noncontrolling interest account, which was approximately $423. As a result of this transaction, the Company now owns 100% of the shares in Flix Impirica.

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,  
     

2014

     2015      2016  

Net income attributable to Cinemark Holdings, Inc.

   $ 192,610      $ 216,869      $ 255,091  
  

 

 

    

 

 

    

 

 

 

Transfers from noncontrolling interests

        

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

     —          —          (27
  

 

 

    

 

 

    

 

 

 

Net transfers from non-controlling interests

     —          —          (27
  

 

 

    

 

 

    

 

 

 

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

   $ 192,610      $ 216,869      $ 255,064