THEATRE AND OTHER CLOSURE AND DISPOSITION OF ASSETS

3 Months Ended

Jun. 28, 2012

THEATRE AND OTHER CLOSURE AND DISPOSITION OF ASSETS

THEATRE AND OTHER CLOSURE AND DISPOSITION OF ASSETS

NOTE 6—THEATRE AND OTHER CLOSURE AND DISPOSITION OF ASSETS

        A rollforward of reserves for theatre and other closure is as follows:

	Thirteen Weeks Ended
(In thousands)	June 28, 2012			June 30, 2011
Beginning balance	$	65,471		$	73,852
Theatre and other closure expense		3,427			2,544
Transfer of lease liability		(888	)		—
Foreign currency translation adjustment		(762	)		169
Cash payments		(4,002	)		(4,058	)
Ending balance	$	63,246		$	72,507

        During the thirteen weeks ended June 28, 2012, the Company recognized $3,427,000 of theatre and other closure expense primarily related to the early termination of a lease agreement and accretion on previously closed properties with remaining lease obligations.

        Theatre and other closure reserves for leases that have not been terminated are recorded at the present value of the future contractual commitments for the base rents, taxes and maintenance.