| GOODWILL AND OTHER INTANGIBLE ASSETS |
NOTE 6—GOODWILL AND OTHER INTANGIBLE ASSETS
Activity of goodwill is presented below:
|
(In thousands)
|
|
Total
|
|
|
|
|
(Successor)
|
|
|
Balance as of December 31, 2012
|
|
$
|
2,249,153
|
|
|
|
|
|
|
|
|
Increase in Goodwill from purchase price allocation adjustments related to the Merger
|
|
|
31,951
|
|
|
Increase in Goodwill from purchase price allocation adjustments related to the Rave acquisition
|
|
|
8,696
|
|
|
|
|
|
|
|
|
Balance as of December 31, 2013 and December 31, 2014
|
|
$
|
2,289,800
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Detail of other intangible assets is presented below:
|
|
|
|
|
December 31, 2014
(Successor)
|
|
December 31, 2013
(Successor)
|
|
|
(In thousands)
|
|
Remaining
Useful Life
|
|
Gross
Carrying
Amount
|
|
Accumulated
Amortization
|
|
Gross
Carrying
Amount
|
|
Accumulated
Amortization
|
|
|
Amortizable Intangible Assets:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Favorable leases
|
|
4 to 44 years
|
|
$
|
112,251
|
|
$
|
(13,781
|
)
|
$
|
112,496
|
|
$
|
(8,053
|
)
|
|
Management contracts
|
|
3 to 6 years
|
|
|
4,540
|
|
|
(1,676
|
)
|
|
4,690
|
|
|
(1,103
|
)
|
|
Non-compete agreement
|
|
1 year
|
|
|
3,800
|
|
|
(2,951
|
)
|
|
3,800
|
|
|
(1,678
|
)
|
|
NCM tax receivable agreement
|
|
22 years
|
|
|
20,900
|
|
|
(1,968
|
)
|
|
20,900
|
|
|
(1,133
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total, amortizable
|
|
|
|
$
|
141,491
|
|
$
|
(20,376
|
)
|
$
|
141,886
|
|
$
|
(11,967
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unamortized Intangible Assets:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AMC trademark
|
|
|
|
$
|
104,400
|
|
|
|
|
$
|
104,400
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total, unamortizable
|
|
|
|
$
|
104,400
|
|
|
|
|
$
|
104,400
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amortization expense associated with the intangible assets noted above is as follows:
|
(In thousands)
|
|
12 Months
Ended
December 31, 2014
|
|
12 Months
Ended
December 31, 2013
|
|
From Inception
August 31, 2012
through
December 31, 2012
|
|
|
|
March 30, 2012
through
August 30, 2012
|
|
|
|
|
(Successor)
|
|
(Successor)
|
|
(Successor)
|
|
|
|
(Predecessor)
|
|
|
Recorded amortization
|
|
$
|
8,804
|
|
$
|
9,011
|
|
$
|
3,106
|
|
|
|
$
|
5,016
|
|
Estimated annual amortization for the next five calendar years for intangible assets is projected below:
|
(In thousands)
|
|
2015
|
|
2016
|
|
2017
|
|
2018
|
|
2019
|
|
|
Projected annual amortization
|
|
$
|
8,365
|
|
$
|
7,516
|
|
$
|
7,400
|
|
$
|
7,131
|
|
$
|
6,187
|
|
|