INVESTMENTS (Tables)

9 Months Ended

Sep. 30, 2015

Investments

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

	Three Months Ended				Nine Months Ended
(In thousands)	September 30, 2015		September 30, 2014		September 30, 2015		September 30, 2014
Revenues	$	154,838	$	142,400	$	433,831	$	398,584
Operating costs and expenses		99,850		97,641		341,178		305,632
Net earnings	$	54,988	$	44,759	$	92,653	$	92,952

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, 2015			September 30, 2014		September 30, 2015			September 30, 2014
National CineMedia, LLC	$	4,431		$	3,249	$	3,360		$	5,258
Digital Cinema Implementation Partners, LLC		6,253			5,537		16,844			15,082
Open Road Releasing, LLC		—			3,630		(430	)		(4,450	)
AC JV, LLC		(243	)		321		983			959
Other		409			350		779			451
The Company's recorded equity in earnings	$	10,850		$	13,087	$	21,536		$	17,300

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)			Advertising (Revenue)
Ending balance December 31, 2014	$	265,839		$	(316,815	)	$	(3,780	)
Receipt of common units(3)		6,812			(6,812	)		—
Receipt of excess cash distributions		(15,953	)		—			—		$	15,953	$	—		$	—
Amortization of deferred revenue		—			11,467			—			—		—			(11,467	)
Unrealized gain from cash flow hedge		234			—			(234	)		—		—			—
Equity in earnings and loss from amortization of basis difference(4)(5)		3,360			—			—			—		(3,360	)		—
For the period ended or balance as of September 30, 2015	$	260,292		$	(312,160	)	$	(4,014	)	$	15,953	$	(3,360	)	$	(11,467	)

(1)	After Wanda acquired Holdings on 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. 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 2015, the Company received 469,163 membership units recorded at a fair value (Level 1) of $14.52 per unit with a corresponding credit to the ESA.
(4)	Reflects percentage ownership of NCM's 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.

NCM

Investments

Schedule of transactions

(In thousands)	September 30, 2015		December 31, 2014
Due from NCM for on-screen advertising revenue	$	1,513	$	2,072
Due to NCM for Exhibitor Services Agreement		856		1,784
Promissory note payable to NCM		6,944		6,944

	Three Months Ended				Nine Months Ended
(In thousands)	September 30, 2015		September 30, 2014		September 30, 2015		September 30, 2014
NCM screen advertising revenues, net of screen integration fee	$	8,756	$	8,482	$	26,727	$	25,854
NCM beverage advertising expense		1,321		2,887		6,836		9,077

DCIP

Investments

Schedule of transactions

(In thousands)	September 30, 2015		December 31, 2014
Due from DCIP for equipment and warranty purchases	$	1,357	$	1,048
Deferred rent liability for digital projectors		8,801		9,031

	Three Months Ended				Nine Months Ended
(In thousands)	September 30, 2015		September 30, 2014		September 30, 2015		September 30, 2014
Digital equipment rental expense	$	1,350	$	1,268	$	4,026	$	5,270
Warranty reimbursements from DCIP		1,335		934		3,716		2,590

Open Road Releasing, LLC, operator of ORF

Investments

Schedule of transactions

(In thousands)	September 30, 2015		December 31, 2014
Due from Open Road Films	$	1,945	$	2,560
Film rent payable to Open Road Films		84		709

	Three Months Ended				Nine Months Ended
(In thousands)	September 30, 2015		September 30, 2014		September 30, 2015		September 30, 2014
Gross film exhibition cost on Open Road Films	$	660	$	900	$	4,100	$	10,000

ACJV LLC

Investments

Schedule of transactions

(In thousands)	September 30, 2015		December 31, 2014
Due to AC JV for Fathom Events programming	$	520	$	333

	Three Months Ended				Nine Months Ended
(In thousands)	September 30, 2015		September 30, 2014		September 30, 2015		September 30, 2014
Gross exhibition cost on Fathom Events programming	$	2,228	$	1,961	$	6,297	$	4,476