SEGMENTS (Tables)
|
12 Months Ended |
Dec. 31, 2017 |
|---|
| Segment Reporting [Abstract] |
|
| Selected Financial Information by Reportable Operating Segment |
Below is a breakdown of select financial information by reportable operating segment:
|
|
|
Year Ended December 31,
|
|
|
|
|
2015
|
|
|
2016
|
|
|
2017
|
|
|
Revenues
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S.
|
|
$
|
2,137,733
|
|
|
$
|
2,230,693
|
|
|
$
|
2,236,237
|
|
|
International
|
|
|
728,735
|
|
|
|
701,573
|
|
|
|
769,436
|
|
|
Eliminations
|
|
|
(13,859
|
)
|
|
|
(13,501
|
)
|
|
|
(14,126
|
)
|
|
Total revenues
|
|
$
|
2,852,609
|
|
|
$
|
2,918,765
|
|
|
$
|
2,991,547
|
|
|
Adjusted EBITDA (1)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S.
|
|
$
|
516,366
|
|
|
$
|
548,413
|
|
|
$
|
558,182
|
|
|
International
|
|
|
166,416
|
|
|
|
157,690
|
|
|
|
165,576
|
|
|
Total Adjusted EBITDA
|
|
$
|
682,782
|
|
|
$
|
706,103
|
|
|
$
|
723,758
|
|
|
Capital expenditures
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S.
|
|
$
|
223,213
|
|
|
$
|
242,271
|
|
|
$
|
321,040
|
|
|
International
|
|
|
108,513
|
|
|
|
84,637
|
|
|
|
59,822
|
|
|
Total capital expenditures
|
|
$
|
331,726
|
|
|
$
|
326,908
|
|
|
$
|
380,862
|
|
|
(1)
|
Distributions from equity investees are reported entirely within the U.S. operating segment
|
|
| Reconciliation of Net Income to Adjusted EBITDA |
The following table sets forth a reconciliation of net income to Adjusted EBITDA:
|
|
|
Year Ended December 31,
|
|
|
|
|
2015
|
|
|
2016
|
|
|
2017
|
|
|
Net income
|
|
$
|
218,728
|
|
|
$
|
256,827
|
|
|
$
|
266,019
|
|
|
Add (deduct):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income taxes
|
|
|
128,939
|
|
|
|
103,819
|
|
|
|
79,358
|
|
|
Interest expense (1)
|
|
|
112,741
|
|
|
|
108,313
|
|
|
|
105,918
|
|
|
Loss on debt amendments and refinancing
|
|
|
925
|
|
|
|
13,445
|
|
|
|
521
|
|
|
Other income (2)
|
|
|
(20,041
|
)
|
|
|
(44,813
|
)
|
|
|
(43,127
|
)
|
|
Other cash distributions from equity investees (3)
|
|
|
19,027
|
|
|
|
21,916
|
|
|
|
25,973
|
|
|
Depreciation and amortization
|
|
|
189,206
|
|
|
|
209,071
|
|
|
|
237,513
|
|
|
Impairment of long-lived assets
|
|
|
8,801
|
|
|
|
2,836
|
|
|
|
15,084
|
|
|
Loss on sale of assets and other
|
|
|
8,143
|
|
|
|
20,459
|
|
|
|
22,812
|
|
|
Deferred lease expenses
|
|
|
(1,806
|
)
|
|
|
(990
|
)
|
|
|
(1,268
|
)
|
|
Amortization of long-term prepaid rents
|
|
|
2,361
|
|
|
|
1,826
|
|
|
|
2,274
|
|
|
Share based awards compensation expense
|
|
|
15,758
|
|
|
|
13,394
|
|
|
|
12,681
|
|
|
Adjusted EBITDA
|
|
$
|
682,782
|
|
|
$
|
706,103
|
|
|
$
|
723,758
|
|
|
(1)
|
Includes amortization of debt issue costs.
|
|
(2)
|
Includes interest income, foreign currency exchange gain (loss), and equity in income of affiliates and excludes distributions from NCM.
|
|
(3)
|
Includes distributions received from equity investees that were recorded as a reduction of the respective investment balances.
|
|
| Selected Financial Information by Geographic Area |
Below is a breakdown of select financial information by geographic area:
|
|
|
Year Ended December 31,
|
|
|
|
|
2015
|
|
|
2016
|
|
|
2017
|
|
|
Revenues
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S.
|
|
$
|
2,137,733
|
|
|
$
|
2,230,693
|
|
|
$
|
2,236,237
|
|
|
Brazil
|
|
|
291,959
|
|
|
|
304,407
|
|
|
|
341,485
|
|
|
Other international countries
|
|
|
436,776
|
|
|
|
397,166
|
|
|
|
427,951
|
|
|
Eliminations
|
|
|
(13,859
|
)
|
|
|
(13,501
|
)
|
|
|
(14,126
|
)
|
|
Total
|
|
$
|
2,852,609
|
|
|
$
|
2,918,765
|
|
|
$
|
2,991,547
|
|
|
|
|
December 31, 2016
|
|
|
December 31, 2017
|
|
|
Theatre Properties and Equipment-net
|
|
|
|
|
|
|
|
|
|
U.S.
|
|
$
|
1,306,643
|
|
|
$
|
1,439,168
|
|
|
Brazil
|
|
|
197,896
|
|
|
|
179,669
|
|
|
Other international countries
|
|
|
199,997
|
|
|
|
209,217
|
|
|
Total
|
|
$
|
1,704,536
|
|
|
$
|
1,828,054
|
|
|