GOODWILL AND OTHER INTANGIBLE ASSETS - NET (Tables)
|
12 Months Ended |
Dec. 31, 2016 |
|---|
| Summary of Goodwill |
The
Company’s goodwill was as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
U.S.
Operating
Segment
|
|
|
International
Operating
Segment
|
|
|
Total |
|
|
Balance at
December 31, 2014 (1)
|
|
$ |
1,156,556 |
|
|
$ |
120,827 |
|
|
$ |
1,277,383 |
|
|
Acquisition of Brazil
theatre
|
|
|
— |
|
|
|
356 |
|
|
|
356 |
|
|
Foreign currency
translation adjustments
|
|
|
— |
|
|
|
(30,191 |
) |
|
|
(30,191 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance at
December 31, 2015 (1)
|
|
$ |
1,156,556 |
|
|
$ |
90,992 |
|
|
$ |
1,247,548 |
|
|
Acquisition of U.S.
theatres
|
|
|
7,607 |
|
|
|
— |
|
|
|
7,607 |
|
|
Other acquisitions
(2)
|
|
|
— |
|
|
|
1,410 |
|
|
|
1,410 |
|
|
Foreign currency
translation adjustments
|
|
|
— |
|
|
|
6,398 |
|
|
|
6,398 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance at
December 31, 2016 (1)
|
|
$ |
1,164,163 |
|
|
$ |
98,800 |
|
|
$ |
1,262,963 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| (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 screen advertising companies in Central America
and Colombia.
|
|
| Intangible Assets |
As of
December 31, intangible assets-net, consisted of the
following:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
December 31,
2014 |
|
|
Amortization |
|
|
Other (1) |
|
|
December 31,
2015 |
|
|
Intangible assets with
finite lives:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross carrying
amount
|
|
$ |
99,922 |
|
|
$ |
— |
|
|
$ |
46 |
|
|
$ |
99,968 |
|
|
Accumulated
amortization
|
|
|
(52,232 |
) |
|
|
(5,716 |
) |
|
|
(1,758 |
) |
|
|
(59,706 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total net intangible assets
with finite lives
|
|
$ |
47,690 |
|
|
$ |
(5,716 |
) |
|
$ |
(1,712 |
) |
|
$ |
40,262 |
|
|
Intangible assets with
indefinite lives:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Tradename
|
|
|
300,334 |
|
|
|
— |
|
|
|
(952 |
) |
|
|
299,382 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total intangible assets
— net
|
|
$ |
348,024 |
|
|
$ |
(5,716 |
) |
|
$ |
(2,664 |
) |
|
$ |
339,644 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
December 31,
2015 |
|
|
Additions
(2) |
|
|
Amortization |
|
|
Other (1) |
|
|
December 31,
2016 |
|
|
Intangible assets with
finite lives:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross carrying
amount
|
|
$ |
99,968 |
|
|
$ |
503 |
|
|
$ |
— |
|
|
$ |
(675 |
) |
|
$ |
99,796 |
|
|
Accumulated
amortization
|
|
|
(59,706 |
) |
|
|
— |
|
|
|
(5,538 |
) |
|
|
638 |
|
|
|
(64,606 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total net intangible assets
with finite lives
|
|
$ |
40,262 |
|
|
|
503 |
|
|
$ |
(5,538 |
) |
|
$ |
(37 |
) |
|
$ |
35,190 |
|
|
Intangible assets with
indefinite lives:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Tradename
|
|
|
299,382 |
|
|
|
— |
|
|
|
— |
|
|
|
327 |
|
|
|
299,709 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total intangible assets
— net
|
|
$ |
339,644 |
|
|
$ |
503 |
|
|
$ |
(5,538 |
) |
|
$ |
290 |
|
|
$ |
334,899 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| (1) |
Activity for 2015 primarily consists of the write-off of
intangible assets for closed theatres, the write-off of a vendor
contract intangible asset, impairment of a favorable lease and
foreign currency translation adjustments. Activity for 2016
includes the write-off of intangible assets for closed theatres and
foreign currency translation adjustments.
|
| (2) |
Activity for 2016 reflects addition of non-compete agreement
and favorable lease associated with theatres acquired in the
U.S.
|
|
| Estimated Aggregate Future Amortization Expense for Intangible Assets |
Estimated
aggregate future amortization expense for intangible assets is as
follows:
|
|
|
|
|
|
For the year ended
December 31, 2017
|
|
$ |
4,887 |
|
|
For the year ended
December 31, 2018
|
|
|
4,835 |
|
|
For the year ended
December 31, 2019
|
|
|
3,973 |
|
|
For the year ended
December 31, 2020
|
|
|
4,304 |
|
|
For the year ended
December 31, 2021
|
|
|
2,189 |
|
|
Thereafter
|
|
|
15,002 |
|
|
|
|
|
|
|
Total
|
|
$ |
35,190 |
|
|
|
|
|
|
|