Segments

6 Months Ended

Jun. 30, 2012

Segments [Abstract]

Segments

16. Segments

The Company manages its international market and its U.S. market as separate reportable segments, with the international segment consisting of operations in Brazil, Mexico, Argentina, Chile, Colombia, Peru, Ecuador, Honduras, El Salvador, Nicaragua, Costa Rica, Panama and Guatemala. Each segment’s revenue is derived from admissions and concession sales and other ancillary revenues, primarily screen advertising. The measure of segment profit and loss the Company uses to evaluate performance and allocate its resources is Adjusted EBITDA, as defined in the reconciliation table below. The Company does not report asset information by segment because that information is not used to evaluate the performance of or allocate resources between segments.

Below is a breakdown of selected financial information by reportable segment:

	Three Months Ended June 30,						Six Months Ended June 30,
	2012			2011			2012			2011
Revenues
U.S.	$	443,765		$	444,479		$	854,990		$	775,345
International		208,372			178,720			378,247			333,191
Eliminations		(2,531	)		(2,606	)		(4,813	)		(4,807	)
Total revenues	$	649,606		$	620,593		$	1,228,424		$	1,103,729
Adjusted EBITDA
U.S.	$	103,391		$	110,015		$	207,684		$	178,806
International		53,561			39,776			89,596			73,691
Total Adjusted EBITDA	$	156,952		$	149,791		$	297,280		$	252,497
Capital expenditures
U.S.	$	27,109		$	27,977		$	46,803		$	39,445
International		19,494			21,556			46,784			45,857
Total capital expenditures	$	46,603		$	49,533		$	93,587		$	85,302

The following table sets forth a reconciliation of net income to Adjusted EBITDA:

	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2012			2011			2012			2011
Net income	$	52,139		$	41,009		$	95,015		$	66,331
Add (deduct):
Income taxes		30,844			23,272			58,776			32,309
Interest expense (1)		31,375			29,777			63,508			59,067
Loss on early retirement of debt		—			4,945			—			4,945
Other income (2)		(63	)		(443	)		(5,485	)		(5,473	)
Depreciation and amortization (3)		36,341			39,897			73,157			79,037
Impairment of long-lived assets		311			1,594			496			2,609
Loss on sale of assets and other		469			5,694			1,305			6,166
Deferred lease expenses		1,207			870			2,330			1,650
Amortization of long-term prepaid rents		776			617			1,310			1,284
Share based awards compensation expense		3,553			2,559			6,868			4,572
Adjusted EBITDA	$	156,952		$	149,791		$	297,280		$	252,497

⁽¹⁾  Includes amortization of debt issue costs.

⁽²⁾  Includes interest income, foreign currency exchange gain (loss) and equity in income (loss) of affiliates and excludes distributions from NCM. Distributions from NCM are reported entirely within the U.S. operating segment.

Financial Information About Geographic Areas

Below is a breakdown of selected financial information by geographic area:

	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2012			2011			2012			2011
Revenues
U.S.	$	443,765		$	444,479		$	854,990		$	775,345
Brazil		83,632			91,602			162,030			178,443
Other international countries		124,740			87,118			216,217			154,748
Eliminations		(2,531	)		(2,606	)		(4,813	)		(4,807	)
Total	$	649,606		$	620,593		$	1,228,424		$	1,103,729

	June 30, 2012		December 31, 2011
Theatre Properties and Equipment-net
U.S.	$	939,707	$	934,279
Brazil		144,745		149,294
Other international countries		158,243		155,277
Total	$	1,242,695	$	1,238,850