Annual report pursuant to Section 13 and 15(d)

Investment in National CineMedia LLC (Tables)

v2.4.0.6
Investment in National CineMedia LLC (Tables)
12 Months Ended
Dec. 31, 2011
Investment in National Cine Media LLC [Abstract]  
Summary of activity with NCM included in company's condensed consolidated financial statements
                                                 
    Investment
in NCM
    Deferred
Revenue
    Distributions
from NCM
    Equity in
Earnings
    Other
Revenue
    Cash
Received
 

Balance as of January 1, 2009

  $ 19,141     $ (189,847                                

Receipt of common units due to annual common unit adjustment

  $ 15,536     $ (15,536   $ —       $ —       $ —       $ —    

Revenues earned under ESA (1)

    —         —         —         —         (5,711     5,711  

Receipt of excess cash distributions

    (2,358     —         (17,738     —         —         20,096  

Receipt under tax receivable agreement

    —         —         (3,084     —         —         3,084  

Equity in earnings

    1,913       —         —         (1,913     —         —    

Amortization of deferred revenue

    —         2,377       —         —         (2,377     —    
   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Balance as of and for the period ended December 31, 2009

  $ 34,232     $ (203,006   $ (20,822   $ (1,913   $ (8,088   $ 28,891  
                   

 

 

   

 

 

   

 

 

   

 

 

 

Receipt of common units due to annual common unit adjustment

  $ 30,683     $ (30,683   $ —       $ —       $ —       $ —    

Change of interest gain due to extraordinary common unit adjustment (2)

    271       —         —         —         —         —    

Revenues earned under ESA (1)

    —         —         —         —         (5,033     5,033  

Receipt of excess cash distributions

    (4,753     —         (19,616     —         —         24,369  

Receipt under tax receivable agreement

    (520     —         (3,742     —         —         4,262  

Equity in earnings

    4,463       —         —         (4,463     —         —    

Amortization of deferred revenue

    —         3,116       —         —         (3,116     —    
   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Balance as of and for the period ended December 31, 2010

  $ 64,376     $ (230,573   $ (23,358   $ (4,463   $ (8,149   $ 33,664  
                   

 

 

   

 

 

   

 

 

   

 

 

 

Receipt of common units due to annual common unit adjustment

  $ 9,302     $ (9,302   $ —       $ —       $ —       $ —    

Revenues earned under ESA (1)

            —         —         —         (5,890     5,890  

Receipt of excess cash distributions

    (6,322     —         (20,023     —         —         26,345  

Receipt under tax receivable agreement

    (729     —         (4,138     —         —         4,867  

Equity in earnings

    5,413       —         —         (5,413     —         —    

Amortization of deferred revenue

    —         3,565       —         —         (3,565     —    
   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Balance as of and for the period ended December 31, 2011

  $ 72,040     $ (236,310   $ (24,161   $ (5,413   $ (9,455   $ 37,102  
   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

 

(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 $9,719, $10,156 and $10,733 for the years ended December 31, 2009, 2010 and 2011, respectively.

(2) 

Change in interest gain is included in (gain) loss on sale of assets and other on the consolidated statement of income.

Summary financial information for NCM
                         
    Year Ended  
    January 1, 2009     December 31, 2009     December 31, 2010  

Gross revenues

  $ 369,524     $ 380,667     $ 427,475  

Operating income

  $ 173,179     $ 168,146     $ 190,559  

Net income

  $ 95,328     $ 128,531     $ 139,541  

 

                 
    As of December 31,  
    2009     2010  

Total assets

  $ 304,406     $ 425,972  

Total liabilities

  $ 944,008     $ 932,549