Impairment Of Long-Lived Assets

9 Months Ended

Sep. 30, 2011

Impairment Of Long-Lived Assets

Impairment Of Long-Lived Assets

NOTE 2—IMPAIRMENT OF LONG-LIVED ASSETS

For the three and nine months ended September 30, 2011, impairment charges aggregated to $18 and $1,342, respectively. The impairment charges were primarily the result of continued deterioration of previously impaired theatres and a decline in market value of a previously closed theatre. The Company recorded impairment charges during the three and nine months ended September 30, 2010 of $220 and $3,944, respectively, which were primarily the result of deterioration in the operating results of the impaired theatres.

The estimated aggregate fair value of the long-lived assets impaired during the three and nine months ended September 30, 2011 was approximately $356 and $4,866, respectively. These fair value estimates are considered Level 3 estimates and were derived primarily from discounting estimated future cash flows, contracts to sell certain owned properties and reference to appraised values.