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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Operating activities    
Net income $ 33,193 $ 62,177
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation 63,247 63,514
Amortization of intangible and other assets and favorable/unfavorable leases 1,215 881
Amortization of long-term prepaid rents [1]   639
Amortization of debt issue costs 1,328 1,590
Loss on debt amendments and refinancing   1,484
Amortization of deferred revenues, deferred lease incentives and other (4,021) (5,343)
Impairment of long-lived assets 5,584 591
Share based awards compensation expense 2,970 3,426
Loss on disposal of assets and other 3,799 3,939
Non-cash rent expense [2] (819)  
Deferred lease expenses [1]   (483)
Equity in income of affiliates (10,404) (8,636)
Deferred income tax expenses (10,964) (72)
Distributions from equity investees [3] 14,342 12,323
Changes in assets and liabilities and other 4,814 (52,378)
Net cash provided by operating activities 104,284 83,652
Investing activities    
Additions to theatre properties and equipment (57,569) (80,163)
Proceeds from sale of theatre properties and equipment and other 57 477
Investment in joint ventures and other, net   764
Net cash used for investing activities (57,512) (78,922)
Financing activities    
Dividends paid to stockholders (39,797) (37,346)
Payroll taxes paid as a result of stock withholdings (1,947) (2,695)
Repayments of long-term debt (1,649) (1,649)
Payment of debt issue costs   (4,962)
Fees paid related to debt amendments   (704)
Payments on capital leases (3,517) (6,090)
Other (1,000)  
Net cash used for financing activities (47,910) (53,446)
Effect of exchange rate changes on cash and cash equivalents 110 215
Decrease in cash and cash equivalents (1,028) (48,501)
Cash and cash equivalents:    
Beginning of period 426,222 522,547
End of period $ 425,194 $ 474,046
[1] Amounts for the three months ended March 31, 2019 were impacted by the adoption of ASC Topic 842 and the resulting change in the classification of certain of the Company’s leases
[2] The adoption of ASC Topic 842 impacted how the Company amortizes lease related assets and liabilities such as deferred lease expenses, favorable and unfavorable lease intangible assets, long-term prepaid rents and deferred lease incentives. Beginning January 1, 2019, these items are amortized to facility lease expense for theatre operating leases and utilities and other for equipment operating leases. See Note 3 for discussion of the impact of ASC Topic 842
[3] Includes cash distributions received from equity investees that were recorded as a reduction of the respective investment balances (see Notes 8 and 9). These distributions are reported entirely within the U.S. operating segment.