Annual report pursuant to Section 13 and 15(d)

GOODWILL AND OTHER INTANGIBLE ASSETS - NET (Tables)

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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