Annual report pursuant to Section 13 and 15(d)

IMPAIRMENT OF LONG-LIVED ASSETS

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IMPAIRMENT OF LONG-LIVED ASSETS
12 Months Ended
Dec. 31, 2012
IMPAIRMENT OF LONG-LIVED ASSETS
11. IMPAIRMENT OF LONG-LIVED ASSETS

The Company reviews long-lived assets for impairment indicators on a quarterly basis or whenever events or changes in circumstances indicate the carrying amount of the assets may not be fully recoverable. See Note 1 for discussion of the Company’s impairment evaluation.

The Company’s long-lived asset impairment losses are summarized in the following table:

 

     Year Ended December 31,  
     2010      2011      2012  

United States theatre properties

   $ 5,166       $ 3,635       $ 2,693   

International theatre properties

     5,668         3,398         338   
  

 

 

    

 

 

    

 

 

 

Subtotal

   $ 10,834       $ 7,033       $ 3,031   

Intangible assets (see Note 10)

     1,527         —           —     

Equity investment

     177         —           —     
  

 

 

    

 

 

    

 

 

 

Impairment of long-lived assets

   $ 12,538       $ 7,033       $ 3,031   
  

 

 

    

 

 

    

 

 

 

The long-lived asset impairment charges recorded during each of the years presented are specific to theatres that were directly and individually impacted by increased competition, adverse changes in market demographics, or adverse changes in the development or the conditions of the areas surrounding the theatre. As of December 31, 2012, the estimated aggregate fair value of the long-lived assets impaired during the year ended December 31, 2012 was approximately $3,876.