14. Segments

The Company manages its international market and its U.S. market as separate reportable operating segments, with the international segment consisting of operations in Brazil, Argentina, Chile, Colombia, Peru, Ecuador, Honduras, El Salvador, Nicaragua, Costa Rica, Panama, Guatemala, Bolivia, Curacao and Paraguay. Each segment’s revenue is derived from admissions and concession sales and other ancillary revenues. The Company uses Adjusted EBITDA, as shown in the reconciliation table below, as the primary measure of segment profit and loss to evaluate performance and allocate its resources. 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 operating segment:


	Three Months Ended June 30,						Six Months Ended June 30,
	2016			2015			2016			2015
Revenues
U.S.	$	560,534		$	592,482		$	1,104,449		$	1,066,777
International		187,561			211,505			351,736			385,838
Eliminations		(3,691	)		(4,055	)		(6,912	)		(7,285	)

Total revenues	$	744,404		$	799,932		$	1,449,273		$	1,445,330

Adjusted EBITDA⁽¹⁾
U.S.	$	127,845		$	144,649		$	271,478		$	259,020
International		40,550			49,849			81,564			89,863

Total Adjusted EBITDA	$	168,395		$	194,498		$	353,042		$	348,883

Capital expenditures
U.S.	$	58,182		$	43,947		$	99,380		$	118,214
International		25,597			26,018			32,144			37,498

Total capital expenditures	$	83,779		$	69,965		$	131,524		$	155,712

⁽¹⁾	Distributions from NCM and other cash distributions from equity investees are reported entirely within the U.S. operating segment.

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


	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2016			2015			2016			2015
Net income	$	54,368		$	70,890		$	113,414		$	113,792
Add (deduct):
Income taxes		31,617			42,774			65,076			69,154
Interest expense ⁽¹⁾		27,262			28,304			55,321			56,511
Other income ⁽²⁾		(7,590	)		(8,400	)		(17,970	)		(6,952	)
Loss on debt amendments and refinancing		98			925			13,284			925
Other cash distributions from equity investees ⁽³⁾		184			1,045			8,270			8,309
Depreciation and amortization		52,358			46,569			101,687			91,901
Impairment of long-lived assets		1,425			3,528			1,917			4,322
Loss on sale of assets and other		5,824			5,802			4,045			4,352
Deferred lease expenses		(207	)		(585	)		(647	)		(1,288	)
Amortization of long-term prepaid rents		514			669			985			1,382
Share based awards compensation expense		2,542			2,977			7,660			6,475

Adjusted EBITDA	$	168,395		$	194,498		$	353,042		$	348,883

⁽¹⁾	Includes amortization of debt issue costs.

⁽²⁾	Includes interest income, foreign currency exchange (gain) loss and equity in income of affiliates and excludes distributions from NCM.

⁽³⁾

Includes cash distributions received from equity investees that were recorded as a reduction of the respective investment balances. In an effort to more closely align our reported Adjusted EBITDA with our operating cash flow and for consistency with our peers, beginning with the three months ended March 31, 2016, Adjusted EBITDA now includes total cash distributions received from equity investees, including the cash distributions recorded as a reduction of the respective investment balance. Adjusted EBITDA for the three and six months ended June 30, 2015 has been adjusted to reflect comparable presentations.

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,
	2016			2015			2016			2015
Revenues
U.S.	$	560,534		$	592,482		$	1,104,449		$	1,066,777
Brazil		74,996			84,320			146,505			162,613
Other international countries		112,565			127,185			205,231			223,225
Eliminations		(3,691	)		(4,055	)		(6,912	)		(7,285	)

Total	$	744,404		$	799,932		$	1,449,273		$	1,445,330


	June 30, 2016		December 31, 2015
Theatre Properties and Equipment-net
U.S.	$	1,220,154	$	1,175,535
Brazil		198,241		163,505
Other international countries		172,385		166,029

Total	$	1,590,780	$	1,505,069