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INVESTMENTS (Tables)
 9 Months Ended
Sep. 30, 2014
INVESTMENTS  
Schedule of condensed financial information of the reporting entity's non-consolidated equity method investments

 

 

 
   Three Months Ended September 30, 2014  
(In thousands)
  DCIP   Open Road
Films		   NCM   AC JV   Other   Total  

Revenues

   $ 41,600   $ 36,913   $ 100,800   $ 9,656   $ 7,334   $ 196,303  

Operating costs and expenses

     23,841     26,333     73,800     8,652     6,520     139,146  
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Net earnings

   $ 17,759   $ 10,580   $ 27,000   $ 1,004   $ 814   $ 57,157  
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                           


 

 
   Three Months Ended September 30, 2013  
(In thousands)
  DCIP   Open Road
Films		   NCM   AC JV   Other   Total  

Revenues

   $ 46,321   $ 24,405   $ 135,100   $ —   $ 5,378   $ 211,204  

Operating costs and expenses

     29,792     21,219     83,300     —     5,257     139,568  
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Net earnings

   $ 16,529   $ 3,186   $ 51,800   $ —   $ 121   $ 71,636  
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                           

 

 

 
   Nine Months Ended September 30, 2014  
(In thousands)
  DCIP   Open Road
Films		   NCM   AC JV   Other   Total  

Revenues

   $ 127,684   $ 128,396   $ 270,900   $ 26,219   $ 19,962   $ 573,161  

Operating costs and expenses

     85,332     137,334     220,300     23,381     19,701     486,048  
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Net earnings (loss)

   $ 42,352   $ (8,938 ) $ 50,600   $ 2,838   $ 261   $ 87,113  
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                           


 

 
   Nine Months Ended September 30, 2013  
(In thousands)
  DCIP   Open Road
Films		   NCM   AC JV   Other   Total  

Revenues

   $ 134,398   $ 125,839   $ 340,100   $ —   $ 12,314   $ 612,651  

Operating costs and expenses

     103,605     108,553     241,600     —     12,220     465,978  
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Net earnings

   $ 30,793   $ 17,286   $ 98,500   $ —   $ 94   $ 146,673  
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                           
Schedule of components of the Company's recorded equity in earnings (losses) of non-consolidated entities

 

 

 
   Three Months Ended   Nine Months Ended  
(In thousands)
  September 30,
2014		   September 30,
2013		   September 30,
2014		   September 30,
2013		  

Digital Cinema Implementation Partners, LLC

   $ 5,537   $ 5,159   $ 15,082   $ 12,986  

Open Road Releasing, LLC

     3,630     1,600     (4,450 )   8,650  

National CineMedia, LLC

     3,249     7,218     5,258     15,917  

AC JV, LLC

     321     —     959     —  

Other

     350     346     451     590  
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

The Company's recorded equity in earnings

   $ 13,087   $ 14,323   $ 17,300   $ 38,143  
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                   
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
(Paid)		   Equity in
(Earnings)
Loss		   Advertising
(Revenue)		  

Ending balance December 31, 2013

   $ 272,407   $ (329,913 ) $ (2,282 )                  

Receipt of common units(3)

     2,137     (2,137 )   —                    

Receipt of excess cash distributions

     (15,484 )   —     —   $ 15,484   $ —   $ —  

Amortization of deferred revenue

     —     11,420     —     —     —     (11,420 )

Unrealized gain from cash flow hedge

     1,136     —     (1,136 )   —     —     —  

Equity in earnings(4)

     7,609     —     —     —     (7,609 )   —  

Equity in loss from amortization of basis difference(5)

     (2,351 )   —     —     —     2,351     —  
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

For the period ended or balance as of September 30, 2014

   $ 265,454   $ (320,630 ) $ (3,418 ) $ 15,484   $ (5,258 ) $ (11,420 )
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                           
(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). Subsequent membership units received as provided under the Common Unit Adjustment Agreement dated as of February 13, 2007, are recorded in a separate tranche, (Tranche 2 Investments).

(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).

(3)
In March 2014, the Company received 141,731 membership units recorded at a fair value of $15.08 per unit with a corresponding credit to the ESA.

(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,
2014		   December 31,
2013		  

Due from DCIP for equipment purchases

   $ 322   $ 663  

Deferred rent liability for digital projectors

     9,107     7,747  


 

 
   Three Months Ended   Nine Months Ended  
(In thousands)
  September 30,
2014		   September 30,
2013		   September 30,
2014		   September 30,
2013		  

Digital equipment rental expense (continuing operations)

   $ 1,268   $ 2,886   $ 5,270   $ 8,255  
Open Road Releasing, LLC, operator of ORF
  
Investments  
Schedule of transactions

 

 

(In thousands)
  September 30,
2014		   December 31,
2013		  

Due from Open Road Films

   $ 2,175   $ 2,658  

Film rent payable to Open Road Films

     202     1,959  


 

 
   Three Months Ended   Nine Months Ended  
(In thousands)
  September 30,
2014		   September 30,
2013		   September 30,
2014		   September 30,
2013		  

Gross film exhibition cost on Open Road Films

   $ 900   $ 1,800   $ 10,000   $ 10,500  
NCM
  
Investments  
Schedule of transactions

 

 

(In thousands)
  September 30,
2014		   December 31,
2013		  

Due from NCM for on-screen advertising revenue

   $ 1,458   $ 2,266  

Due to NCM for Exhibitor Services Agreement

     1,201     2,429  


 

 
   Three Months Ended   Nine Months Ended  
(In thousands)
  September 30,
2014		   September 30,
2013		   September 30,
2014		   September 30,
2013		  

Net NCM screen advertising revenues

   $ 8,482   $ 8,435   $ 25,854   $ 25,007  

NCM beverage advertising expense

     2,887     3,604     9,077     10,325  
AC JV
  
Investments  
Schedule of transactions

 

 

(In thousands)
  September 30,
2014		   December 31,
2013		  

Due to AC JV for Fathom Events programming

   $ 474   $ —  


 

 
   Three Months Ended   Nine Months Ended  
(In thousands)
  September 30,
2014		   September 30,
2013		   September 30,
2014		   September 30,
2013		  

Gross exhibition cost on Fathom Events programming

   $ 1,961   $ —   $ 4,476   $ —