Annual report pursuant to Section 13 and 15(d)

INVESTMENT IN NATIONAL CINEMEDIA LLC (Tables)

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INVESTMENT IN NATIONAL CINEMEDIA LLC (Tables) - NCM
12 Months Ended
Dec. 31, 2016
Summary of Common Units Received Under Common Unit Adjustment Agreement

Below is a summary of common units received by the Company under the Common Unit Adjustment Agreement during the years ended December 31, 2014, 2015 and 2016:

 

Event

  

Date
Common
Units
Received

    

Number of
Common
Units
Received

    

Fair Value of
Common
Units
Received

 

2014 Annual common unit adjustment

     03/27/14        557,631      $ 8,216  

2015 Annual common unit adjustment

     03/31/15        1,074,910      $ 15,421  

2016 Annual common unit adjustment

     03/31/16        753,598      $ 11,111  
Summary of Activity With Equity Investee Included in the Company's Consolidated Financial Statements

Below is a summary of activity with NCM included in the Company’s consolidated financial statements for the periods indicated.

 

    Investment
in NCM
    Deferred
Revenue
    Distributions
from NCM
    Equity in
Earnings
    Other
Revenue
    Other
Comprehensive
(Income) Loss
    Cash
Received
 

Balance as of January 1, 2014

  $ 178,853     $ (334,429          

Receipt of common units due to annual common unit adjustment

    8,216       (8,216   $ —       $ —       $ —       $ —       $ —    

Revenues earned under ESA (1)

    —         —         —         —         (9,249     —         9,249  

Receipt of excess cash distributions

    (12,574     —         (14,778     —         —         —         27,352  

Receipt under tax receivable agreement

    (2,594     —         (3,763     —         —         —         6,357  

Equity in earnings

    6,142       —         —         (6,142     —         —         —    

Equity in other comprehensive income

    896       —         —         —         —         (896     —    

Amortization of deferred revenue

    —         7,426       —         —         (7,426     —         —    
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Balance as of and for the period ended December 31, 2014

  $ 178,939     $ (335,219   $ (18,541   $ (6,142   $ (16,675   $ (896 )   $ 42,958  
     

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Receipt of common units due to annual common unit adjustment

    15,421       (15,421   $ —       $ —       $ —       $ —       $ —    

Revenues earned under ESA (1)

    —         —         —         —         (11,330     —         11,330  

Receipt of excess cash distributions

    (14,072     —         (15,396     —         —         —         29,468  

Receipt under tax receivable agreement

    (2,308     —         (2,744     —         —         —         5,052  

Equity in earnings

    8,510       —         —         (8,510     —         —         —    

Equity in other comprehensive loss

    (2,735     —         —         —         —         2,735       —    

Amortization of deferred revenue

    —         8,506       —         —         (8,506     —         —    
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Balance as of and for the period ended December 31, 2015

  $ 183,755     $ (342,134   $ (18,140   $ (8,510   $ (19,836   $ 2,735     $ 45,850  
     

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Receipt of common units due to annual common unit adjustment

    11,111       (11,111   $ —       $ —       $ —       $ —       $ —    

Revenues earned under ESA (1)

    —         —         —         —         (11,048     —         11,048  

Receipt of excess cash distributions

    (11,233     —         (11,483     —         —         —         22,716  

Receipt under tax receivable agreement

    (2,985     —         (3,173     —         —         —         6,158  

Equity in earnings

    9,347       —         —         (9,347     —         —         —    

Amortization of deferred revenue

    —         9,317       —         —         (9,317     —         —    
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Balance as of and for the period ended December 31, 2016

  $ 189,995     $ (343,928   $ (14,656   $ (9,347   $ (20,365   $ —       $ 39,922  
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

 

(1) 

Amounts include the per patron and per digital screen theatre access fees due to the Company, net of amounts due to NCM for on-screen advertising time provided to the Company’s beverage concessionaire. The amounts due to NCM for on-screen advertising time provided to the Company’s beverage concessionaire were approximately $11,489, $9,819 and $10,523 for the years ended December 31, 2014, 2015 and 2016, respectively.