CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands |
12 Months Ended |
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
| Cash flows from operating activities: |
|
|
|
| Net earnings (loss) |
$ 111,667
|
$ 103,856
|
$ 64,080
|
| Adjustments to reconcile net earnings to net cash provided by operating activities: |
|
|
|
| Depreciation and amortization |
268,243
|
232,961
|
216,321
|
| Deferred income taxes |
34,091
|
51,660
|
32,430
|
| Impairment of long-lived assets |
5,544
|
1,702
|
3,149
|
| Gain on extinguishment of debt |
|
(44)
|
(8,544)
|
| Amortization of premium on corporate borrowings |
201
|
808
|
832
|
| Amortization of deferred charges to interest expense |
6,129
|
3,480
|
2,664
|
| Theatre and other closure expense |
5,204
|
5,028
|
9,346
|
| Stock-based compensation |
4,855
|
10,480
|
11,293
|
| Loss (gain) on dispositions |
(2,400)
|
281
|
(630)
|
| Equity in earnings and losses from non-consolidated entities, net of distributions |
(15,455)
|
(9,603)
|
(102)
|
| Landlord contributions |
125,139
|
83,346
|
59,518
|
| Deferred rent |
(33,741)
|
(24,533)
|
(18,056)
|
| Net periodic benefit cost (credit) |
730
|
(18,208)
|
(3,418)
|
| Change in assets and liabilities, excluding acquisitions: |
|
|
|
| Receivables |
(56,750)
|
(1,428)
|
308
|
| Other assets |
(29,133)
|
(2,835)
|
(4,282)
|
| Accounts payable |
21,490
|
41,362
|
(13,692)
|
| Accrued expenses and other liabilities |
(18,373)
|
(8,690)
|
(52,603)
|
| Other, net |
4,214
|
(2,066)
|
(1,312)
|
| Net cash provided by operating activities |
431,655
|
467,557
|
297,302
|
| Cash flows from investing activities: |
|
|
|
| Capital expenditures |
(421,713)
|
(333,423)
|
(270,734)
|
| Proceeds from disposition of long-term assets |
19,909
|
604
|
238
|
| Investments in non-consolidated entities |
(10,481)
|
(1,915)
|
(1,522)
|
| Other, net |
(6,515)
|
(1,849)
|
327
|
| Net cash used in investing activities |
(1,354,650)
|
(509,436)
|
(271,691)
|
| Cash flows from financing activities: |
|
|
|
| Proceeds from issuance of Term Loan Due 2023 |
498,750
|
|
|
| Proceeds from issuance of bridge loan due 2017 |
350,000
|
|
|
| Proceeds from extension and modification of Term Loan due 2022 |
|
124,375
|
|
| Repurchase of Senior Subordinated Notes due 2020 |
|
(645,701)
|
|
| Borrowings under (repayments) Revolving Credit Facility |
(75,000)
|
75,000
|
|
| Repurchase of Senior Notes due 2019 |
|
|
(639,728)
|
| Payments of Stock Issuance Costs |
(763)
|
|
(281)
|
| Repayments of Term Loan |
(8,806)
|
(5,813)
|
(7,750)
|
| Principal payments under capital and financing lease obligations |
(10,852)
|
(7,840)
|
(6,941)
|
| Principal payments under promissory note |
(1,389)
|
(1,389)
|
(1,389)
|
| Principal amount of coupon payment under Senior Subordinated Notes due 2020 |
|
(3,486)
|
(6,227)
|
| Cash used to pay dividends |
(79,627)
|
(78,608)
|
(58,504)
|
| Deferred financing costs |
(65,877)
|
(21,252)
|
(7,952)
|
| Purchase of treasury stock |
|
|
(92)
|
| Net cash provided by (used in) financing activities |
918,263
|
35,286
|
(353,864)
|
| Effect of exchange rate changes on cash and equivalents |
555
|
(363)
|
5
|
| Net increase (decrease) in cash and equivalents |
(4,177)
|
(6,956)
|
(328,248)
|
| Cash and equivalents at beginning of period |
211,250
|
218,206
|
546,454
|
| Cash and equivalents at end of period |
207,073
|
211,250
|
218,206
|
| Cash paid during the period for: |
|
|
|
| Interest (including amounts capitalized of $234, $203 and $315) |
105,380
|
103,913
|
113,578
|
| Income taxes paid (refunded), net |
4,738
|
5,351
|
1,084
|
| Schedule of non-cash investing and financing activities: |
|
|
|
| Investment (See Note 5-Investments) |
|
76,101
|
2,137
|
| 6.375% Senior Subordinated Notes due 2024 |
|
|
|
| Cash flows from financing activities: |
|
|
|
| Proceeds from issuance of Senior Subordinated Notes |
310,000
|
|
|
| 5.875% Senior Subordinated Notes due 2026 |
|
|
|
| Cash flows from financing activities: |
|
|
|
| Proceeds from issuance of Senior Subordinated Notes |
595,000
|
|
|
| Senior Secured Note GBP 9.0 Percent Due 2018 [Member] |
|
|
|
| Cash flows from financing activities: |
|
|
|
| Payments of Senior Subordinated Notes |
(380,678)
|
|
|
| Senior Secured Note 4.93 Percent Due 2018 [Member] |
|
|
|
| Cash flows from financing activities: |
|
|
|
| Payments of Senior Subordinated Notes |
(212,495)
|
|
|
| 5.75 % Senior Subordinated Notes due 2025 |
|
|
|
| Cash flows from financing activities: |
|
|
|
| Proceeds from issuance of Senior Subordinated Notes |
|
600,000
|
|
| 5.875% Senior Subordinated Notes due 2022 |
|
|
|
| Cash flows from financing activities: |
|
|
|
| Proceeds from issuance of Senior Subordinated Notes |
|
|
$ 375,000
|
| Odeon |
|
|
|
| Cash flows from investing activities: |
|
|
|
| Acquisition |
(438,733)
|
|
|
| Carmike |
|
|
|
| Cash flows from investing activities: |
|
|
|
| Acquisition |
(497,798)
|
|
|
| Starplex Cinemas |
|
|
|
| Cash flows from investing activities: |
|
|
|
| Acquisition |
$ 681
|
$ (172,853)
|
|