AMC ENTERTAINMENT INC

CIK:0000722077|SEC Filings

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Revenues
Admissions	$ 1,892,037	$ 1,765,388	$ 1,847,327
Food and beverage	910,086	797,735	786,912
Other theatre	144,777	132,267	115,189
Total revenues	2,946,900	2,695,390	2,749,428
Operating costs and expenses
Film exhibition costs	1,021,457	934,246	976,912
Food and beverage costs	128,569	111,991	107,325
Operating expense	795,722	733,338	726,641
Rent	467,822	455,239	451,828
General and administrative:
Merger, acquisition and transaction costs	3,398	1,161	2,883
Other	58,212	64,873	97,288
Depreciation and amortization	232,961	216,321	197,537
Impairment of long-lived assets	1,702	3,149
Operating costs and expenses	2,709,843	2,520,318	2,560,414
Operating income	237,057	175,072	189,014
Other expense (income)
Other expense (income)	10,684	(8,344)	(1,415)
Interest expense:
Corporate borrowings	96,857	111,072	129,963
Capital and financing lease obligations	9,231	9,867	10,264
Equity in earnings of non-consolidated entities	(37,131)	(26,615)	(47,435)
Investment income	(6,115)	(8,145)	(2,084)
Total other expense (income)	73,526	77,835	89,293
Earnings from continuing operations before income taxes	163,531	97,237	99,721
Income tax provision (benefit)	59,675	33,470	(263,383)
Earnings from continuing operations	103,856	63,767	363,104
Gain from discontinued operations, net of income taxes		313	1,296
Net earnings	$ 103,856	$ 64,080	$ 364,400

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Cash flows from operating activities:
Net earnings	$ 103,856,000	$ 64,080,000	$ 364,400,000
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization	232,961,000	216,321,000	197,537,000
Deferred income taxes	51,660,000	32,430,000	(266,598,000)
Impairment of long-lived assets	1,702,000	3,149,000
Gain on extinguishment and modification of debt	(44,000)	(8,544,000)	(422,000)
Amortization of discount (premium) on corporate borrowings	808,000	832,000	(12,687,000)
Impairment of marketable equity security investment			1,370,000
Theatre and other closure expense	5,028,000	9,346,000	5,823,000
Stock-based compensation	10,480,000	11,293,000	12,000,000
(Gain) loss on dispositions	281,000	(630,000)	(2,876,000)
Equity in earnings and losses from non-consolidated entities, net of distributions	(9,603,000)	(102,000)	(19,611,000)
Landlord contributions	83,346,000	59,518,000	18,090,000
Deferred rent	(24,533,000)	(18,056,000)	(6,333,000)
Net periodic benefit cost (credit)	(18,208,000)	(3,418,000)	973,000
Change in assets and liabilities, excluding acquisitions:
Receivables	(1,428,000)	308,000	(3,365,000)
Other assets	(2,835,000)	(4,282,000)	(8,915,000)
Accounts payable	41,362,000	(13,692,000)	64,215,000
Accrued expenses and other liabilities	(8,583,000)	(52,603,000)	14,822,000
Other, net	1,414,000	1,352,000	(1,081,000)
Net cash provided by operating activities	467,664,000	297,302,000	357,342,000
Cash flows from investing activities:
Capital expenditures	(333,423,000)	(270,734,000)	(260,823,000)
Proceeds from the disposition of long-term assets	604,000	238,000	3,880,000
Investments in non-consolidated entities	(1,915,000)	(1,522,000)	(3,265,000)
Other, net	(1,849,000)	327,000	(7,448,000)
Net cash used in investing activities	(509,436,000)	(271,691,000)	(268,784,000)
Cash flows from financing activities:
Proceeds from extension and modification of Term Loan due 2022	124,375,000
Payment of initial public offering costs		(281,000)
Capital contribution from Holdings			355,580,000
Borrowings under Revolving Credit Facility	75,000,000
Principal payments under Term Loan	(5,813,000)	(7,750,000)	(7,813,000)
Principal payments under capital and financing lease obligations	(7,840,000)	(6,941,000)	(6,446,000)
Principal payments under promissory note	(1,389,000)	(1,389,000)
Principal amount of coupon payment under Senior Subordinated Notes due 2020	(3,486,000)	(6,227,000)
Increase in deferred financing costs	(21,252,000)	(7,952,000)	(9,126,000)
Payment of construction payables			(19,404,000)
Cash used to pay dividends to Holdings	(78,608,000)	(58,504,000)	(588,000)
Net cash provided by (used in) financing activities	35,286,000	(353,772,000)	324,928,000
Effect of exchange rate on cash and cash equivalents	(363,000)	5,000	(103,000)
Net increase (decrease) in cash and cash equivalents	(6,849,000)	(328,156,000)	413,383,000
Cash and equivalents at beginning of period	216,155,000	544,311,000	130,928,000
Cash and equivalents at end of period	209,306,000	216,155,000	544,311,000
Cash paid during the period for:
Interest (including amounts capitalized of $203, $315, $511)	103,913,000	113,578,000	152,220,000
Income taxes, net	5,351,000	1,084,000	1,646,000
Starplex Cinemas
Cash flows from investing activities:
Acquisition	(172,853,000)
Rave
Cash flows from investing activities:
Acquisition			(1,128,000)
5.75 % Senior Subordinated Notes due 2025
Cash flows from financing activities:
Proceeds from issuance of Senior Subordinated Notes	600,000,000
5.875% Senior Subordinated Notes due 2022
Cash flows from financing activities:
Proceeds from issuance of Senior Subordinated Notes		375,000,000
9.75% Senior Subordinated Notes due 2020
Cash flows from financing activities:
Repurchase of Senior Subordinated Notes	(645,701,000)
8.75% Senior Notes due 2019
Cash flows from financing activities:
Repurchase of Senior Subordinated Notes		(639,728,000)
Senior Secured Credit Facility-Term Loan due 2020
Cash flows from financing activities:
Proceeds from issuance of Senior Subordinated Notes			773,063,000
Term loans due 2016
Cash flows from financing activities:
Principal payments under Term Loan			(464,088,000)
Term loans due 2018
Cash flows from financing activities:
Principal payments under Term Loan			(296,250,000)
NCM, LLC
Schedule of non-cash investing and financing activities:
Investment in non-consolidated affiliates	$ 76,101,000	$ 2,137,000	26,315,000
AC JV, LLC
Schedule of non-cash investing and financing activities:
Investment in non-consolidated affiliates			$ 8,333,000

CONSOLIDATED BALANCE SHEETS - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Current assets:
Cash and equivalents	$ 209,306,000	$ 216,155,000
Receivables, net	105,509,000	99,252,000
Other current assets	97,608,000	84,343,000
Total current assets	412,423,000	399,750,000
Property, net	1,401,928,000	1,247,230,000
Intangible assets, net	237,376,000	225,515,000
Goodwill	2,408,834,000	2,291,943,000
Deferred tax asset	125,903,000	181,755,000
Other long-term assets	523,525,000	417,604,000
Total assets	5,109,989,000	4,763,797,000
Current liabilities:
Accounts payable	313,025,000	262,635,000
Accrued expenses and other liabilities	158,664,000	136,262,000
Deferred revenues and income	221,679,000	213,882,000
Current maturities of corporate borrowings and capital and financing lease obligations	18,786,000	23,598,000
Total current liabilities	712,154,000	636,377,000
Corporate borrowings	1,924,366,000	1,775,132,000
Capital and financing lease obligations	93,273,000	101,533,000
Exhibitor services agreement	377,599,000	316,815,000
Other long-term liabilities	462,626,000	419,717,000
Total liabilities	$ 3,570,018,000	$ 3,249,574,000
Commitments and contingencies
Stockholder's equity:
Common Stock, 1 share issued with $.01 par value
Additional paid-in capital	$ 1,185,366,000	$ 1,174,886,000
Accumulated other comprehensive income	2,804,000	12,844,000
Accumulated earnings	351,801,000	326,493,000
Total stockholder's equity	1,539,971,000	1,514,223,000
Total liabilities and stockholder's equity	$ 5,109,989,000	$ 4,763,797,000