7. Equity

Below is a summary of changes in stockholders’ equity attributable to Cinemark Holdings, Inc., noncontrolling interests and total equity for the nine months ended September 30, 2013 and 2012:


	Cinemark Holdings, Inc. Stockholders’ Equity			Noncontrolling Interests			Total Equity
Balance at January 1, 2013	$	1,084,065		$	10,919		$	1,094,984
Purchase of noncontrolling interest’s share of Adamark S.A., a Brazilian subsidiary		(4,618	)		(1,003	)		(5,621	)
Share based awards compensation expense		10,346			—			10,346
Stock withholdings related to restricted stock and restricted stock units that vested during the nine months ended September 30, 2013		(3,464	)		—			(3,464	)
Exercise of stock options		58			—			58
Tax benefit related to restricted stock and restricted stock unit vesting and dividends paid on unvested stock		3,529			—			3,529
Dividends paid to stockholders⁽¹⁾		(77,191	)		—			(77,191	)
Dividends accrued on unvested restricted stock unit awards		(474	)		—			(474	)
Dividends paid to noncontrolling interests		—			(665	)		(665	)
Net income		132,878			1,766			134,644
Fair value adjustments on interest rate swap agreements designated as hedges, net of taxes of $1,461		2,481			—			2,481
Fair value adjustments on available-for-sale securities, net of taxes of $1,933		(3,215	)		—			(3,215	)
Other comprehensive income in equity method investees		3,454			—			3,454
Foreign currency translation adjustments		(48,539	)		(220	)		(48,759	)

Balance at September 30, 2013	$	1,099,310		$	10,797		$	1,110,107

(1)

Below is a summary of dividends paid to stockholders during the nine months ended September 30, 2013:


Declaration Date	Record Date		Date Paid		Amount per Share of Common Stock		Total Amount Paid
02/12/13		03/04/13		03/15/13	$	0.21	$	24,140
05/24/13		06/06/13		06/20/13	$	0.21		24,216
08/15/13		08/28/13		09/12/13	$	0.25		28,835

Total					$	0.67	$	77,191


	Cinemark Holdings, Inc. Stockholders’ Equity			Noncontrolling Interests			Total Equity
Balance at January 1, 2012	$	1,012,877		$	10,762		$	1,023,639
Share based awards compensation expense		10,165			—			10,165
Stock withholdings related to restricted stock and restricted stock units that vested during the nine months ended September 30, 2012		(3,263	)		—			(3,263	)
Exercise of stock options		4			—			4
Tax benefit related to restricted stock and restricted stock unit vesting and dividends paid on unvested restricted stock		860			—			860
Dividends paid to stockholders		(72,236	)		—			(72,236	)
Dividends accrued on unvested restricted stock unit awards		(460	)		—			(460	)
Dividends paid to noncontrolling interests		—			(706	)		(706	)
Net income		141,127			1,855			142,982
Fair value adjustments on interest rate swap agreements designated as hedges, net of taxes of $72		(35	)		—			(35	)
Amortization of accumulated other comprehensive loss on terminated swap agreement		2,470			—			2,470
Fair value adjustments on available-for-sale securities, net of taxes of $459		764			—			764
Foreign currency translation adjustments		(15,904	)		(182	)		(16,086	)

Balance at September 30, 2012	$	1,076,369		$	11,729		$	1,088,098

Purchase of Noncontrolling Interest’s Share of Adamark S.A.

During August 2013, the Company purchased the 49.9% noncontrolling interest share of one of its Brazilian subsidiaries, Adamark S.A., for approximately $5,621 in cash. Adamark S.A. owns two of the Company’s Brazilian theatres. The increase in the Company’s ownership interest in the Brazilian 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 $4,618, which represented the difference between the cash paid and the book value of the Brazilian subsidiary’s noncontrolling interest account. As a result of this transaction, the Company owns 100% of the shares in Adamark S.A.

Below is a summary of the impact of changes in the Company’s ownership interest in its subsidiary on its equity:


	Three Months Ended September 30, 2013			Nine Months Ended September 30, 2013
Net income attributable to Cinemark Holdings, Inc.	$	80,019		$	132,878

Transfers from noncontrolling interests:
Decrease in Cinemark Holdings, Inc. additional paid-in-capital for the buyout of a noncontrolling interest in Brazil		(4,618	)		(4,618	)

Net transfers from non-controlling interests		(4,618	)		(4,618	)

Change from net income attributable to Cinemark Holdings, Inc. and transfers from noncontrolling interests	$	75,401		$	128,260