Purchase of Noncontrolling Interests' Share of Cinemark Chile

9 Months Ended

Sep. 30, 2011

Purchase of Noncontrolling Interests' Share of Cinemark Chile [Abstract]

Purchase of Noncontrolling Interests' Share of Cinemark Chile

5. Purchase of Noncontrolling Interests’ Share of Cinemark Chile

     During May 2011, the Company purchased its Chilean partners’ 2.6% share of Cinemark Chile S.A. (“Cinemark Chile”) for approximately $1,443 in cash. The increase in the Company’s ownership interest in its Chilean subsidiary was accounted for as an equity transaction in accordance with ASC Topic 810-10-45-23. The Company recorded a decrease in additional paid-in-capital of approximately $1,402, which represented the difference between the cash paid and the book value of the Chilean partners’ noncontrolling interest account, or approximately $917, plus the Chilean partners’ share of accumulated other comprehensive loss of approximately $485. As a result of this transaction, the Company owns 100% of the shares in Cinemark Chile.