
	Year Ended		Year Ended		Year Ended
Revenues (In thousands)	December 31, 2016		December 31, 2015		December 31, 2014
U.S. markets	$	3,116,983	$	2,940,012	$	2,688,230
International markets		118,863		6,888		7,160
Total revenues	$	3,235,846	$	2,946,900	$	2,695,390


	Year Ended		Year Ended		Year Ended
Adjusted EBITDA (1) (In thousands)	December 31, 2016		December 31, 2015		December 31, 2014
U.S. markets	$	573,618	$	536,811	$	464,555
International markets		28,412		(357)		(630)
Total Adjusted EBITDA	$	602,030	$	536,454	$	463,925


	Year Ended		Year Ended		Year Ended
Capital Expenditures (In thousands)	December 31, 2016		December 31, 2015		December 31, 2014
U.S. markets	$	412,752	$	333,423	$	270,734
International markets		8,961		—		—
Total capital expenditures	$	421,713	$	333,423	$	270,734

(1)

The Company presents Adjusted EBITDA as a supplemental measure of its performance. The Company defines Adjusted EBITDA as net earnings plus (i) income tax provision, (ii) interest expense and (iii) depreciation and amortization, as further adjusted to eliminate the impact of certain items that we do not consider indicative of our ongoing operating performance and to include any cash distributions of earnings from our equity method investees. The measure of segment profit and loss the Company uses to evaluate performance and allocate its resources is Adjusted EBITDA, which is consistent with how Adjusted EBITDA is defined in our debt indentures.

(2)

Distributions from NCM are reported entirely within the U.S. markets segment.

	Year Ended		Year Ended		Year Ended
	December 31,		December 31,		December 31,
(In thousands)	2016		2015		2014
Net earnings	$	111,667	$	103,856	$	63,767
Plus:
Income tax provision		37,972		59,675		33,470
Interest expense		121,537		106,088		120,939
Depreciation and amortization		268,243		232,961		216,321
Impairment of long-lived assets		5,544		1,702		3,149
Certain operating expenses(1)		20,117		16,773		21,686
Equity in earnings of non-consolidated entities		(47,718)		(37,131)		(26,615)
Cash distributions from non-consolidated entities		40,052		34,083		35,243
Investment expense (income)		(10,154)		(6,115)		(8,145)
Other expense (income)(2)		32		10,684		(8,344)
General and administrative expense—unallocated:
Merger, acquisition and transaction costs(3)		47,895		3,398		1,161
Stock-based compensation expense(4)		6,843		10,480		11,293
Adjusted EBITDA	$	602,030	$	536,454	$	463,925

(1)

Amounts represent preopening expense related to temporarily closed screens under renovation, theatre and other closure expense for the permanent closure of screens including the related accretion of interest, non-cash deferred digital equipment rent expense, and disposition of assets and other non-operating gains or losses included in operating expenses. The Company has excluded these items as they are non-cash in nature, include components of interest cost for the time value of money or are non-operating in nature.

(2)

Other expense for the prior year periods related to the cash tender offer and redemption of the 9.75% Senior Subordinated Notes due 2020. The Company has excluded other expense and income related to financing activities as the amounts are similar to interest expense or income and are non-operating in nature.

(3)

Merger, acquisition and transition costs are excluded as it is non-operating in nature.

(4)

Non-cash or non-recurring expense included in general and administrative: other.