|
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
|
4 Months Ended |
12 Months Ended |
5 Months Ended |
|
Dec. 31, 2012
|
Dec. 31, 2014
|
Dec. 31, 2013
|
Aug. 30, 2012
|
| Cash flows from operating activities: |
|
|
|
|
| Net earnings (loss) |
$ (42,670,000) |
$ 64,080,000 |
$ 364,400,000 |
|
| Adjustments to reconcile net earnings (loss) to net cash provided by (used in) operating activities: |
|
|
|
|
| Depreciation and amortization |
71,633,000 |
216,321,000 |
197,537,000 |
|
| Deferred income taxes |
3,020,000 |
32,430,000 |
(266,598,000) |
|
| Impairment of long-lived assets |
0 |
3,149,000 |
|
|
| Gain on extinguishment and modification of debt |
|
(8,544,000) |
(422,000) |
|
| Amortization of discount (premium) on corporate borrowings |
(3,219,000) |
832,000 |
(12,687,000) |
|
| Impairment of marketable equity security. investment |
|
|
1,370,000 |
|
| Theatre and other closure expense |
2,381,000 |
9,346,000 |
5,823,000 |
|
| Stock based compensation |
|
11,293,000 |
12,000,000 |
|
| (Gain) loss on dispositions |
73,000 |
(630,000) |
(2,876,000) |
|
| Equity in earnings and losses from non-consolidated entities, net of distributions |
12,707,000 |
(102,000) |
(19,611,000) |
|
| Landlord contributions |
3,597,000 |
59,518,000 |
18,090,000 |
|
| Deferred rent |
(2,900,000) |
(18,056,000) |
(6,333,000) |
|
| Change in assets and liabilities: |
|
|
|
|
| Receivables |
(66,615,000) |
308,000 |
(3,365,000) |
|
| Other assets |
(35,138,000) |
(4,282,000) |
(8,915,000) |
|
| Accounts payable |
69,029,000 |
(13,692,000) |
64,215,000 |
|
| Accrued expenses and other liabilities |
63,288,000 |
(52,603,000) |
14,822,000 |
|
| Other, net |
(1,294,000) |
(2,066,000) |
(108,000) |
|
| Net cash provided by operating activities |
73,892,000 |
297,302,000 |
357,342,000 |
|
| Cash flows from investing activities: |
|
|
|
|
| Capital expenditures |
(72,774,000) |
(270,734,000) |
(260,823,000) |
|
| Merger, net of cash acquired |
3,110,000 |
|
|
|
| Acquisition of Rave theatres, net of cash accquired |
(87,555,000) |
|
(1,128,000) |
|
| Proceeds from disposition of long-term assets |
90,000 |
238,000 |
3,880,000 |
|
| Investments in non-consolidated entities, net |
(1,194,000) |
(1,522,000) |
(3,265,000) |
|
| Other, net |
(575,000) |
327,000 |
(7,448,000) |
|
| Net cash used in investing activities |
(158,898,000) |
(271,691,000) |
(268,784,000) |
|
| Cash flows from financing activities: |
|
|
|
|
| Proceeds from issuance of Senior Subordinated Notes due 2022 |
|
375,000,000 |
|
|
| Repurchase of Senior Subordinated Notes due 2019 |
|
(639,728,000) |
|
|
| Proceeds from issuance of Term Loan due 2020 |
|
|
773,063,000 |
|
| Repayment of Term Loan due 2016 |
|
|
(464,088,000) |
|
| Repayment of Term Loan due 2018 |
|
|
(296,250,000) |
|
| Net proceeds (disbursements) related to initial public offering |
|
(281,000) |
355,580,000 |
|
| Principal payments under Term Loan |
(4,002,000) |
(7,750,000) |
(7,813,000) |
|
| Principal payments under capital and financing lease obligations |
(875,000) |
(6,941,000) |
(6,446,000) |
|
| Principal payments under promissary note |
|
(1,389,000) |
|
|
| Principal amount of coupon payment under Senior Subordinated Notes due 2020 |
|
(6,227,000) |
|
|
| Capital contribution from Wanda |
100,000,000 |
|
|
|
| Deferred financing costs |
|
(7,952,000) |
(9,126,000) |
|
| Payment of construction payables |
22,487,000 |
|
(19,404,000) |
|
| Cash used to pay dividends |
|
(58,504,000) |
|
|
| Purchase of Treasury Stock |
|
(92,000) |
(588,000) |
|
| Net cash used in financing activities |
117,610,000 |
(353,864,000) |
324,928,000 |
|
| Effect of exchange rate changes on cash and equivalents |
(207,000) |
5,000 |
(103,000) |
|
| Net decrease in cash and equivalents |
32,397,000 |
(328,248,000) |
413,383,000 |
|
| Cash and equivalents at beginning of period |
100,674,000 |
546,454,000 |
133,071,000 |
|
| Cash and equivalents at end of period |
133,071,000 |
218,206,000 |
546,454,000 |
|
| Cash paid during the period for: |
|
|
|
|
| Interest (including amounts capitalized of $315, $511, $0 and $14 ) |
68,794,000 |
113,578,000 |
152,220,000 |
|
| Income taxes, net |
10,088,000 |
1,084,000 |
1,646,000 |
|
| NCM, LLC |
|
|
|
|
| Schedule of non-cash investing and financing activities: |
|
|
|
|
| Non-cash portion of investments in non-consolidated affiliates (See Note 7-Investments) |
|
2,137,000 |
26,315,000 |
|
| AC JV, LLC |
|
|
|
|
| Schedule of non-cash investing and financing activities: |
|
|
|
|
| Non-cash portion of investments in non-consolidated affiliates (See Note 7-Investments) |
|
|
8,333,000 |
|
| Predecessor |
|
|
|
|
| Cash flows from operating activities: |
|
|
|
|
| Net earnings (loss) |
|
|
|
90,157,000 |
| Adjustments to reconcile net earnings (loss) to net cash provided by (used in) operating activities: |
|
|
|
|
| Depreciation and amortization |
|
|
|
81,234,000 |
| Amortization of discount (premium) on corporate borrowings |
|
|
|
967,000 |
| Theatre and other closure expense |
|
|
|
11,753,000 |
| Stock based compensation |
|
|
|
830,000 |
| (Gain) loss on dispositions |
|
|
|
(48,245,000) |
| Equity in earnings and losses from non-consolidated entities, net of distributions |
|
|
|
(495,000) |
| Landlord contributions |
|
|
|
2,000,000 |
| Deferred rent |
|
|
|
(3,427,000) |
| Change in assets and liabilities: |
|
|
|
|
| Receivables |
|
|
|
12,884,000 |
| Other assets |
|
|
|
36,770,000 |
| Accounts payable |
|
|
|
(58,027,000) |
| Accrued expenses and other liabilities |
|
|
|
(50,473,000) |
| Other, net |
|
|
|
444,000 |
| Net cash provided by operating activities |
|
|
|
76,372,000 |
| Cash flows from investing activities: |
|
|
|
|
| Capital expenditures |
|
|
|
(40,116,000) |
| Proceeds from disposition of long-term assets |
|
|
|
7,291,000 |
| Investments in non-consolidated entities, net |
|
|
|
1,589,000 |
| Other, net |
|
|
|
205,000 |
| Net cash used in investing activities |
|
|
|
(31,031,000) |
| Cash flows from financing activities: |
|
|
|
|
| Repurchase of Senior Subordinated Notes due 2014 |
|
|
|
(191,035,000) |
| Principal payments under Term Loan |
|
|
|
(4,002,000) |
| Principal payments under capital and financing lease obligations |
|
|
|
(1,298,000) |
| Deferred financing costs |
|
|
|
(2,378,000) |
| Payment of construction payables |
|
|
|
(23,575,000) |
| Net cash used in financing activities |
|
|
|
(222,288,000) |
| Effect of exchange rate changes on cash and equivalents |
|
|
|
16,000 |
| Net decrease in cash and equivalents |
|
|
|
(176,931,000) |
| Cash and equivalents at beginning of period |
|
|
|
277,605,000 |
| Cash and equivalents at end of period |
|
|
|
100,674,000 |
| Cash paid during the period for: |
|
|
|
|
| Interest (including amounts capitalized of $315, $511, $0 and $14 ) |
|
|
|
78,789,000 |
| Income taxes, net |
|
|
|
$ 828,000 |