Goodwill and Other Intangible Assets - Net |
9. |
GOODWILL AND OTHER
INTANGIBLE ASSETS — NET |
The
Company’s goodwill was as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S.
Operating
Segment
|
|
|
International
Operating
Segment
|
|
|
Total |
|
Balance at
December 31, 2011 (1)
|
|
$ |
948,026 |
|
|
$ |
202,611 |
|
|
$ |
1,150,637 |
|
Acquisition of U.S.
theatre
|
|
|
8,971 |
|
|
|
— |
|
|
|
8,971 |
|
Foreign currency
translation adjustments
|
|
|
— |
|
|
|
(8,797 |
) |
|
|
(8,797 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance at
December 31, 2012 (1)
|
|
$ |
956,997 |
|
|
$ |
193,814 |
|
|
$ |
1,150,811 |
|
Acquisition of U.S.
theatres (Note 5)
|
|
|
203,827 |
|
|
|
— |
|
|
|
203,827 |
|
Disposition of U.S.
theatres (Note 5)
|
|
|
(10,353 |
) |
|
|
— |
|
|
|
(10,353 |
) |
Disposition of Mexico
theatres (Note 5)
|
|
|
— |
|
|
|
(33,605 |
) |
|
|
(33,605 |
) |
Foreign currency
translation adjustments
|
|
|
— |
|
|
|
(22,590 |
) |
|
|
(22,590 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance at
December 31, 2013 (1)
|
|
$ |
1,150,471 |
|
|
$ |
137,619 |
|
|
$ |
1,288,090 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(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.
|
As of
December 31, intangible assets-net, consisted of the
following:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31,
2011 |
|
|
Amortization |
|
|
Other (1) |
|
|
December 31,
2012 |
|
Intangible assets with
finite lives:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross carrying
amount
|
|
$ |
74,381 |
|
|
$ |
— |
|
|
$ |
(2,460 |
) |
|
$ |
71,921 |
|
Accumulated
amortization
|
|
|
(47,313 |
) |
|
|
(4,611 |
) |
|
|
570 |
|
|
|
(51,354 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total net intangible
assets with finite lives
|
|
|
27,068 |
|
|
|
(4,611 |
) |
|
|
(1,890 |
) |
|
|
20,567 |
|
Intangible assets with
indefinite lives:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Tradename
|
|
|
309,839 |
|
|
|
— |
|
|
|
335 |
|
|
|
310,174 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total intangible assets
— net
|
|
$ |
336,907 |
|
|
$ |
(4,611 |
) |
|
$ |
(1,555 |
) |
|
$ |
330,741 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31,
2012 |
|
|
Acquisitions (2) |
|
|
Amortization |
|
|
Dispositions (3) |
|
|
Other (1) |
|
|
December 31,
2013 |
|
Intangible assets with
finite lives:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross carrying
amount
|
|
$ |
71,921 |
|
|
$ |
44,487 |
|
|
$ |
— |
|
|
$ |
(8,862 |
) |
|
$ |
(5,929 |
) |
|
$ |
101,617 |
|
Accumulated
amortization
|
|
|
(51,354 |
) |
|
|
— |
|
|
|
(5,995 |
) |
|
|
8,219 |
|
|
|
2,833 |
|
|
|
(46,297 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total net intangible
assets with finite lives
|
|
$ |
20,567 |
|
|
$ |
44,487 |
|
|
$ |
(5,995 |
) |
|
$ |
(643 |
) |
|
$ |
(3,096 |
) |
|
$ |
55,320 |
|
Intangible assets with
indefinite lives:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Tradename
|
|
|
310,174 |
|
|
|
— |
|
|
|
— |
|
|
|
(8,711 |
) |
|
|
(639 |
) |
|
|
300,824 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total intangible assets
— net
|
|
$ |
330,741 |
|
|
$ |
44,487 |
|
|
$ |
(5,995 |
) |
|
$ |
(9,354 |
) |
|
$ |
(3,735 |
) |
|
$ |
356,144 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1) |
Activity for 2012 consists of the write off of favorable leases
for theatres that were closed and foreign currency translation
adjustments. Activity for 2013 consists of the impairment of $708
for a favorable lease related to one U.S. theatre and foreign
currency translation adjustments.
|
(3) |
Reflects disposition of three Rave theatres and the
Company’s Mexico theatres (see Note 5).
|
Estimated
aggregate future amortization expense for intangible assets is as
follows:
|
|
|
|
|
For the year ended
December 31, 2014
|
|
$ |
6,226 |
|
For the year ended
December 31, 2015
|
|
|
5,988 |
|
For the year ended
December 31, 2016
|
|
|
5,876 |
|
For the year ended
December 31, 2017
|
|
|
5,319 |
|
For the year ended
December 31, 2018
|
|
|
5,225 |
|
Thereafter
|
|
|
26,686 |
|
|
|
|
|
|
Total
|
|
$ |
55,320 |
|
|
|
|
|
|
|