INVESTMENTS (Tables)

9 Months Ended

Sep. 30, 2013

INVESTMENTS

Schedule of condensed financial information of the reporting entity's non-consolidated equity method investments

	Three Months Ended September 30, 2013
(In thousands)	NCM		DCIP		ORF		Other		Total
Revenues	$	135,100	$	46,321	$	24,405	$	5,378	$	211,204
Operating costs and expenses		83,300		29,792		21,219		5,257		139,568
Net earnings	$	51,800	$	16,529	$	3,186	$	121	$	71,636

	From Inception August 31, 2012 through September 27, 2012
(In thousands)	NCM		DCIP		ORF			Other			Total
Revenues	$	22,200	$	13,598	$	21,311		$	2,572		$	59,681
Operating costs and expenses		21,200		11,903		29,177			3,043			65,323
Net earnings (loss)	$	1,000	$	1,695	$	(7,866	)	$	(471	)	$	(5,642	)

	June 29, 2012 through August 30, 2012
(In thousands)	NCM		DCIP		ORF			Other		Total
Revenues	$	121,500	$	29,385	$	9,663		$	6,231	$	166,779
Operating costs and expenses		59,600		22,405		30,895			5,605		118,505
Net earnings (loss)	$	61,900	$	6,980	$	(21,232	)	$	626	$	48,274

        Condensed financial information of the Company's non-consolidated equity method investments for the nine months ended September 30, 2013, the period December 30, 2011 through August 30, 2012, and the period August 31, 2012 through September 27, 2012 is shown below:

	Nine Months Ended September 30, 2013
(In thousands)	NCM		DCIP		ORF		Other		Total
Revenues	$	340,100	$	134,398	$	125,839	$	12,314	$	612,651
Operating costs and expenses		241,600		103,605		108,553		12,220		465,978
Net earnings	$	98,500	$	30,793	$	17,286	$	94	$	146,673

	From Inception August 31, 2012 through September 27, 2012
(In thousands)	NCM		DCIP		ORF			Other			Total
Revenues	$	22,200	$	13,598	$	21,311		$	2,572		$	59,681
Operating costs and expenses		21,200		11,903		29,177			3,043			65,323
Net earnings (loss)	$	1,000	$	1,695	$	(7,866	)	$	(471	)	$	(5,642	)

	December 30, 2011 through August 30, 2012
(In thousands)	NCM		DCIP		ORF			Other			Total
Revenues	$	310,700	$	109,363	$	78,259		$	22,927		$	521,249
Operating costs and expenses		243,800		86,410		91,611			23,890			445,711
Net earnings (loss)	$	66,900	$	22,953	$	(13,352	)	$	(963	)	$	75,538

Schedule of components of the Company's recorded equity in earnings (losses) of non-consolidated entities

	Three Months Ended								Nine Months Ended
(In thousands)	Three Months Ended September 30, 2013		From Inception August 31, 2012 through September 27, 2012			June 29, 2012 through August 30, 2012			Nine Months Ended September 30, 2013		From Inception August 31, 2012 through September 27, 2012			December 30, 2011 through August 30, 2012
	(Successor)		(Successor)			(Predecessor)			(Successor)		(Successor)			(Predecessor)
National CineMedia, LLC	$	7,218	$	116		$	7,027		$	15,917	$	116		$	16,560
Digital Cinema Implementation Partners, LLC		5,159		541			2,132			12,986		541			7,079
Open Road Releasing, LLC		1,600		(3,933	)		(10,616	)		8,650		(3,933	)		(6,676	)
Other		346		(102	)		249			590		(102	)		1,277
The Company's recorded equity in earnings (losses)	$	14,323	$	(3,378	)	$	(1,208	)	$	38,143	$	(3,378	)	$	18,240

Investments

Schedule of changes in the carrying amount of the entity's investment in NCM and equity in earnings of NCM

(In thousands)	Investment in NCM(1)			Exhibitor Services Agreement(2)			Other Comprehensive (Income)			Cash Received		Equity in (Earnings) Loss			Advertising (Revenue)
	(Successor)			(Successor)			(Successor)			(Successor)		(Successor)			(Successor)
Ending balance December 31, 2012	$	245,047		$	(318,154	)	$	(797	)
Receipt of common units		26,315			(26,315	)		—
Receipt of excess cash distributions		(16,896	)		—			—		$	16,896	$	—		$	—
Amortization of deferred revenue		—			10,846			—			—		—			(10,846	)
Unrealized gain from cash flow hedge		1,101			—			(1,101	)		—		—			—
Change in interest gain(3)		2,716			—			—			—		(2,716	)		—
Equity in earnings(4)		15,383			—			—			—		(15,383	)		—
Equity in loss from amortization of basis difference(5)		(2,182	)		—			—			—		2,182			—
For the period ended or balance as of September 30, 2013	$	271,484		$	(333,623	)	$	(1,898	)	$	16,896	$	(15,917	)	$	(10,846	)

(1)

As of the date of the Merger, August 30, 2012, the Company's investment in NCM consisted of a single investment tranche (Tranche 1 Investment) consisting of 17,323,782 membership units recorded at fair value (Level 1). As a result of the Rave theatre acquisitions in December of 2012, and as provided under the Common Unit Adjustment Agreement dated as of February 13, 2007, the Company received 1,728,988 additional NCM common membership units in 2013 valued at $26,315,000 and is recorded in a new tranche, (Tranche 2 Investment).

(2)

Represents the unamortized portion of the Exhibitor Services Agreement ("ESA") with NCM. Such amounts are being amortized to other theatre revenues over the remainder of the 30 year term of the ESA ending in 2036, using a units-of-revenue method, as described in ASC 470-10-35 (formerly EITF 88-18, Sales of Future Revenues). In connection with the Merger on August 30, 2012, the amounts related to the ESA were adjusted to estimated fair value.

(3)

A non-cash gain was recorded to adjust the Company's investment balance due to NCM's issuance of 5,315,837 common membership units to another founding member, at a price per share in excess of the Company's average carrying amount per share.

(4)

Represents percentage of ownership equity in earnings on both Tranche 1 and Tranche 2 Investments.

(5)

Certain differences between the Company's carrying value and the Company's share of NCM's membership equity have been identified and are amortized to equity in earnings over the respective lives of the assets and liabilities.

DCIP

Investments

Schedule of transactions

(In thousands)	September 30, 2013		December 31, 2012
	(Successor)		(Successor)
Due from DCIP for equipment purchases	$	730	$	736
Deferred rent liability for digital projectors		6,241		1,810

	Three Months Ended						Nine Months Ended
(In thousands)	Three Months Ended September 30, 2013		From Inception August 31, 2012 through September 27, 2012		June 29, 2012 through August 30, 2012		Nine Months Ended September 30, 2013		From Inception August 31, 2012 through September 27, 2012		December 30, 2011 through August 30, 2012
	(Successor)		(Successor)		(Predecessor)		(Successor)		(Successor)		(Predecessor)
Digital equipment rental expense (continuing operations)	$	2,886	$	377	$	1,485	$	8,255	$	377	$	5,489

Open Road Releasing, LLC, operator of ORF

Investments

Schedule of transactions

(In thousands)	September 30, 2013		December 31, 2012
	(Successor)		(Successor)
Due from Open Road Films	$	2,322	$	1,950
Film rent payable to Open Road Films		373		326

	Three Months Ended						Nine Months Ended
(In thousands)	Three Months Ended September 30, 2013		From Inception August 31, 2012 through September 27, 2012		June 29, 2012 through August 30, 2012		Nine Months Ended September 30, 2013		From Inception August 31, 2012 through September 27, 2012		December 30, 2011 through August 30, 2012
	(Successor)		(Successor)		(Predecessor)		(Successor)		(Successor)		(Predecessor)
Gross film exhibition cost on Open Road Films	$	1,800	$	2,223	$	448	$	10,500	$	2,223	$	6,550

NCM

Investments

Schedule of transactions

(In thousands)	September 30, 2013		December 31, 2012
	(Successor)		(Successor)
Due from NCM for on-screen advertising revenue	$	1,479	$	1,978
Due to NCM for Exhibitor Services Agreement		2,161		2,021

	Three Months Ended						Nine Months Ended
(In thousands)	Three Months Ended September 30, 2013		From Inception August 31, 2012 through September 27, 2012		June 29, 2012 through August 30, 2012		Nine Months Ended September 30, 2013		From Inception August 31, 2012 through September 27, 2012		December 30, 2011 through August 30, 2012
	(Successor)		(Successor)		(Predecessor)		(Successor)		(Successor)		(Predecessor)
Net NCM screen advertising revenues	$	8,435	$	2,201	$	5,088	$	25,007	$	2,201	$	18,152
NCM beverage advertising expense		3,604		577		2,843		10,325		577		9,680