XML 16 R4.htm IDEA: XBRL DOCUMENT v3.5.0.2
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 29, 2016
Oct. 01, 2015
Sep. 29, 2016
Oct. 01, 2015
Income Statement [Abstract]        
REVENUE (including revenue from founding members of $7.6, $6.5, $22.1 and $23.2, respectively) $ 113.5 $ 111.7 $ 305.1 $ 310.1
OPERATING EXPENSES:        
Advertising operating costs 7.5 7.8 20.8 21.9
Network costs 4.1 4.3 12.9 13.0
Theatre access fees—founding members [1] 19.2 17.6 56.8 54.0
Selling and marketing costs 16.8 16.9 54.5 49.9
Merger termination fee and related merger costs       34.3
Administrative and other costs 8.6 9.3 32.9 26.3
Depreciation and amortization 8.9 8.0 26.5 24.2
Total 65.1 63.9 204.4 223.6
OPERATING INCOME 48.4 47.8 100.7 86.5
NON-OPERATING EXPENSES:        
Interest on borrowings 14.3 13.0 41.2 39.2
Interest income (0.3) (0.5) (1.3) (1.4)
Accretion of interest on the discounted payable to founding members under tax receivable agreement 3.4 3.5 10.4 10.6
Amortization of terminated derivatives       1.6
Loss on early retirement of debt 10.4   10.4  
Other non-operating expense   0.1   0.2
Total 27.8 16.1 60.7 50.2
INCOME BEFORE INCOME TAXES 20.6 31.7 40.0 36.3
Income tax (benefit) expense (1.1) 4.8 1.3 6.3
CONSOLIDATED NET INCOME 21.7 26.9 38.7 30.0
Less: Net income attributable to noncontrolling interests 13.5 19.2 28.0 21.2
NET INCOME ATTRIBUTABLE TO NCM, INC. $ 8.2 $ 7.7 $ 10.7 $ 8.8
NET INCOME PER NCM, INC. COMMON SHARE:        
Basic $ 0.14 $ 0.13 $ 0.18 $ 0.15
Diluted $ 0.13 $ 0.13 $ 0.18 $ 0.15
WEIGHTED AVERAGE SHARES OUTSTANDING:        
Basic 59,846,496 59,014,887 59,763,012 58,959,381
Diluted 60,878,806 59,625,214 60,479,977 59,452,580
Dividends declared per common share $ 0.22 $ 0.22 $ 0.66 $ 0.66
[1] Comprised of payments per theatre attendee and payments per digital screen with respect to the founding member theatres included in the Company’s network, including payments for access to higher quality digital cinema equipment.