Segments (Tables)

6 Months Ended

Jun. 30, 2018

Selected Financial Information by Reportable Operating Segment

Below is a breakdown of selected financial information by reportable operating segment:

	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2018			2017			2018			2017
Revenues
U.S.	$	712,483		$	554,929		$	1,312,128		$	1,136,138
International		179,979			199,926			363,607			401,994
Eliminations		(3,409	)		(3,660	)		(6,711	)		(7,327	)
Total revenues	$	889,053		$	751,195		$	1,669,024		$	1,530,805

Adjusted EBITDA
U.S.	$	188,411		$	129,394		$	344,255		$	294,048
International		33,192			41,285			70,778			88,511
Total Adjusted EBITDA	$	221,603		$	170,679		$	415,033		$	382,559

Capital expenditures
U.S.	$	59,675		$	77,175		$	129,646		$	155,992
International		22,751			14,438			32,943			26,808
Total capital expenditures	$	82,426		$	91,613		$	162,589		$	182,800

Reconciliation of Net Income to Adjusted EBITDA

The following table sets forth a reconciliation of net income to Adjusted EBITDA:

	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2018			2017			2018			2017
Net income	$	82,464		$	51,810		$	144,641		$	132,004
Add (deduct):
Income taxes		18,326			29,445			43,423			73,845
Interest expense ⁽¹⁾		28,466			26,522			55,581			52,891
Other (income) expense ⁽²⁾		836			(7,030	)		(6,437	)		(20,012	)
Loss on debt amendments		—			246			1,484			246
Other cash distributions from equity investees ⁽³⁾		3,932			2,870			16,255			14,919
Depreciation and amortization		64,290			59,137			128,685			116,493
Impairment of long-lived assets		2,788			4,301			3,379			4,574
Loss on disposal of assets and other		16,901			54			20,840			888
Deferred lease expenses		(449	)		(375	)		(932	)		(722	)
Amortization of long-term prepaid rents		597			496			1,236			989
Share based awards compensation expense		3,452			3,203			6,878			6,444
Adjusted EBITDA ⁽⁴⁾	$	221,603		$	170,679		$	415,033		$	382,559

(1)

Includes amortization of debt issue costs.

(2)

Includes interest income, foreign currency exchange gain (loss), equity in income of affiliates and interest expense - NCM and excludes distributions from NCM.

(3)

Includes cash distributions received from equity investees that were recorded as a reduction of the respective investment balances (see Notes 7 and 8). These distributions are reported entirely within the U.S. operating segment.

(4)

The adoption of ASC Topic 606 impacted how the Company records certain revenues. See Note 3 for discussion of the impact of ASC Topic 606.

Selected Financial Information by Geographic Area

Below is a breakdown of selected financial information by geographic area:

	Three Months Ended						Six Months Ended
	June 30,						June 30,
Revenues	2018			2017			2018			2017
U.S.	$	712,483		$	554,929		$	1,312,128		$	1,136,138
Brazil		72,977			87,841			153,113			182,540
Other international countries		107,002			112,085			210,494			219,454
Eliminations		(3,409	)		(3,660	)		(6,711	)		(7,327	)
Total	$	889,053		$	751,195		$	1,669,024		$	1,530,805

	As of		As of
Theatre Properties and Equipment-net	June 30, 2018		December 31, 2017
U.S.	$	1,465,915	$	1,439,168
Brazil		146,467		179,669
Other international countries		205,355		209,217
Total	$	1,817,737	$	1,828,054