Guarantor Subsidiaries (Tables)

9 Months Ended

Sep. 30, 2012

Guarantor Subsidiaries [Abstract]

CONDENSED CONSOLIDATING BALANCE SHEET

	As of September 30, 2012
	Carmike			Guarantor
	Cinemas, Inc.			Subsidiaries			Eliminations			Consolidated
Assets:
Current assets:
Cash and cash equivalents	$	71,106		$	10,937		$	—		$	82,043
Restricted cash		58			—			—			58
Accounts receivable		4,554			152			—			4,706
Inventories		649			2,211			—			2,860
Prepaid expenses and other assets		9,194			4,660			(3,976	)		9,878
Total current assets		85,561			17,960			(3,976	)		99,545
Property and equipment:
Land		12,079			40,567			—			52,646
Buildings and building improvements		45,558			223,458			—			269,016
Leasehold improvements		19,375			102,478			—			121,853
Assets under capital leases		8,675			36,295			—			44,970
Equipment		65,161			155,640			—			220,801
Construction in progress		1,076			6,390			—			7,466
Total property and equipment		151,924			564,828			—			716,752
Accumulated depreciation and amortization		(77,068	)		(288,190	)		—			(365,258	)
Property and equipment, net of accumulated depreciation		74,856			276,638			—			351,494
Intercompany receivables		102,346			—			(102,346	)		—
Investments in subsidiaries		90,553			—			(90,553	)		—
Goodwill		—			8,087			—			8,087
Intangible assets, net of accumulated amortization		—			1,088			—			1,088
Investments in unconsolidated affiliates		7,011			949			—			7,960
Other assets		14,926			6,094			—			21,020
Total assets	$	375,253		$	310,816		$	(196,875	)	$	489,194
Liabilities and stockholders’ equity:
Current liabilities:
Accounts payable	$	18,250		$	1,825		$	—		$	20,075
Accrued expenses		23,370			17,277			(3,976	)		36,671
Current maturities of long-term debt, capital leases and long-term financing obligations		420			1,796			—			2,216
Total current liabilities		42,040			20,898			(3,976	)		58,962
Long-term liabilities:
Long-term debt, less current maturities		209,530			—			—			209,530
Capital leases and long-term financing obligations, less current maturities		27,970			85,267			—			113,237
Intercompany liabilities		—			102,346			(102,346	)		—
Deferred revenue		33,273			—			—			33,273
Other		5,272			11,752			—			17,024
Total long-term liabilities		276,045			199,365			(102,346	)		373,064
Stockholders’ equity:
Preferred stock		—			—			—			—
Common stock		539			1			(1	)		539
Treasury stock		(11,740	)		—			—			(11,740	)
Paid-in capital		349,046			237,800			(237,800	)		349,046
Accumulated deficit		(280,677	)		(147,248	)		147,248			(280,677	)
Total stockholders’ equity		57,168			90,553			(90,553	)		57,168
Total liabilities and stockholders’ equity	$	375,253		$	310,816		$	(196,875	)	$	489,194

	As of December 31, 2011
	Carmike			Guarantor
	Cinemas, Inc			Subsidiaries			Eliminations			Consolidated
Assets:
Current assets:
Cash and cash equivalents	$	3,623		$	9,993		$	—		$	13,616
Restricted cash		331			—			—			331
Accounts receivable		4,654			331			—			4,985
Inventories		722			2,233			—			2,955
Prepaid expenses and other assets		4,953			4,457			—			9,410
Total current assets		14,283			17,014			—			31,297
Property and equipment:
Land		12,716			41,193			—			53,909
Buildings and building improvements		46,676			229,545			—			276,221
Leasehold improvements		19,307			104,240			—			123,547
Assets under capital leases		8,675			36,295			—			44,970
Equipment		58,128			154,329			—			212,457
Construction in progress		159			2,190			—			2,349
Total property and equipment		145,661			567,792			—			713,453
Accumulated depreciation and amortization		(75,760	)		(281,758	)		—			(357,518	)
Property and equipment, net of accumulated depreciation		69,901			286,034			—			355,935
Intercompany receivables		123,071			—			(123,071	)		—
Investment in subsidiaries		82,985			—			(82,985	)		—
Goodwill		—			8,087			—			8,087
Intangible assets, net of accumulated amortization		—			1,169			—			1,169
Investment in unconsolidated affiliates		8,498			—			—			8,498
Other		10,536			7,334			—			17,870
Total assets	$	309,274		$	319,638		$	(206,056	)	$	422,856
Liabilities and stockholders’ (deficit) equity:
Current liabilities:
Accounts payable	$	27,598		$	1,985		$	—		$	29,583
Accrued expenses		19,752			11,384			—			31,136
Current maturities of long-term debt, capital leases and long-term financing obligations		2,391			1,568			—			3,959
Total current liabilities		49,741			14,937			—			64,678
Long-term liabilities:
Long-term debt, less current maturities		196,880			—			—			196,880
Capital leases and long-term financing obligations, less current maturities		28,223			86,385			—			114,608
Intercompany liabilities		—			123,071			(123,071	)		—
Deferred revenue		34,009			—			—			34,009
Other		6,045			12,261			—			18,306
Total long-term liabilities		265,157			221,717			(123,071	)		363,803
Stockholders’ (deficit) equity:
Preferred Stock		—			—			—			—
Common Stock		401			1			(1	)		401
Treasury stock		(11,683	)		—			—			(11,683	)
Paid-in capital		290,997			237,800			(237,800	)		290,997
Accumulated deficit		(285,340	)		(154,816	)		154,816			(285,340	)
Total stockholders’ (deficit) equity		(5,625	)		82,985			(82,985	)		(5,625	)
Total liabilities and stockholders’ (deficit) equity	$	309,274		$	319,638		$	(206,056	)	$	422,856

	Three Months Ended September 30, 2012
	Carmike			Guarantor
	Cinemas, Inc.			Subsidiaries			Eliminations			Consolidated
Revenues:
Admissions	$	12,946		$	67,463		$	—		$	80,409
Concessions and other		14,062			39,168			(6,163	)		47,067
Total operating revenues		27,008			106,631			(6,163	)		127,476
Operating costs and expenses:
Film exhibition costs		7,163			36,983			—			44,146
Concession costs		975			4,793			—			5,768
Other theatre operating costs		10,402			49,141			(6,163	)		53,380
General and administrative expenses		5,094			556			—			5,650
Severance agreement charges		95			—			—			95
Depreciation and amortization		1,925			6,563			—			8,488
Loss (gain) on sale of property and equipment		718			(19	)		—			699
Impairment of long-lived assets		579			1,256			—			1,835
Total operating costs and expenses		26,951			99,273			(6,163	)		120,061
Operating income		57			7,358			—			7,415
Interest expense		2,117			6,488			—			8,605
Equity in earnings of subsidiaries		(284	)		—			284			—
Loss (income) before income tax and income from unconsolidated affiliates		(1,776	)		870			(284	)		(1,190	)
Income tax (benefit) expense		(157	)		621			—			464
Income from unconsolidated affiliates		1,870			80			—			1,950
Income from continuing operations		251			329			(284	)		296
Loss from discontinued operations		(18	)		(45	)		—			(63	)
Net income	$	233		$	284		$	(284	)	$	233

	Three Months Ended September 30, 2011
	Carmike			Guarantor
	Cinemas, Inc.			Subsidiaries			Eliminations			Consolidated
Revenues:
Admissions	$	14,045		$	72,036		$	—		$	86,081
Concessions and other		14,247			39,450			(6,444	)		47,253
Total operating revenues		28,292			111,486			(6,444	)		133,334
Operating costs and expenses:
Film exhibition costs		7,764			39,232			—			46,996
Concession costs		980			4,691			—			5,671
Other theatre operating costs		10,905			49,632			(6,444	)		54,093
General and administrative expenses		3,922			536			—			4,458
Depreciation and amortization		1,686			6,560			—			8,246
Loss (gain) on sale of property and equipment		51			(4	)		—			47
Impairment of long-lived assets		—			18			—			18
Total operating costs and expenses		25,308			100,665			(6,444	)		119,529
Operating income		2,984			10,821			—			13,805
Interest expense		2,267			5,783			—			8,050
Equity in earnings of subsidiaries		(5,173	)		—			5,173			—
Income before income tax and income from unconsolidated affiliates		5,890			5,038			(5,173	)		5,755
Income tax expense (benefit)		3,999			(63	)		—			3,936
Income from unconsolidated affiliates		1,189			102			—			1,291
Income from continuing operations		3,080			5,203			(5,173	)		3,110
Income (loss) from discontinued operations		10			(30	)		—			(20	)
Net income	$	3,090		$	5,173		$	(5,173	)	$	3,090

	Nine Months Ended September 30, 2012
	Carmike Cinemas, Inc.			Guarantor Subsidiaries			Eliminations			Consolidated
Revenues:
Admissions	$	40,863		$	209,560		$	—		$	250,423
Concessions and other		43,815			119,156			(19,083	)		143,888
Total operating revenues		84,678			328,716			(19,083	)		394,311
Operating costs and expenses:
Film exhibition costs		22,341			113,785			—			136,126
Concession costs		2,983			13,880			—			16,863
Other theatre operating costs		31,763			145,785			(19,083	)		158,465
General and administrative expenses		14,112			1,714			—			15,826
Severance agreement charges		588			—			—			588
Depreciation and amortization		5,348			18,680			—			24,028
Loss on sale of property and equipment		739			209			—			948
Impairment of long-lived assets		593			2,778			—			3,371
Total operating costs and expenses		78,467			296,831			(19,083	)		356,215
Operating income		6,211			31,885			—			38,096
Interest expense		6,998			18,480			—			25,478
Loss on extinguishment of debt		4,961			—			—			4,961
Equity in earnings of subsidiaries		(7,570	)		—			7,570			—
Income before income tax and income from unconsolidated affiliates		1,822			13,405			(7,570	)		7,657
Income tax (benefit) expense		(2,240	)		6,062			—			3,822
Income from unconsolidated affiliates		698			260			—			958
Income from continuing operations		4,760			7,603			(7,570	)		4,793
Loss from discontinued operations		(97	)		(33	)		—			(130	)
Net income	$	4,663		$	7,570		$	(7,570	)	$	4,663

	Nine Months Ended September 30, 2011
	Carmike Cinemas, Inc.			Guarantor Subsidiaries			Eliminations			Consolidated
Revenues:
Admissions	$	39,046		$	192,631		$	—		$	231,677
Concessions and other		40,490			105,885			(17,710	)		128,665
Total operating revenues		79,536			298,516			(17,710	)		360,342
Operating costs and expenses:
Film exhibition costs		21,352			104,275			—			125,627
Concession costs		2,688			12,170			—			14,858
Other theatre operating costs		31,146			138,949			(17,710	)		152,385
General and administrative expenses		12,091			1,596			—			13,687
Severance agreement charges		845			—			—			845
Depreciation and amortization		4,975			18,930			—			23,905
Loss (gain) on sale of property and equipment		118			(10	)		—			108
Write-off of note receivable		750			—			—			750
Impairment of long-lived assets		907			435			—			1,342
Total operating costs and expenses		74,872			276,345			(17,710	)		333,507
Operating income		4,664			22,171			—			26,835
Interest expense		8,242			17,591			—			25,833
Equity in earnings of subsidiaries		(4,621	)		—			4,621			—
Income before income tax and income from unconsolidated affiliates		1,043			4,580			(4,621	)		1,002
Income tax expense (benefit)		11,255			(4	)		—			11,251
Income from unconsolidated affiliates		744			243			—			987
(Loss) income from continuing operations		(9,468	)		4,827			(4,621	)		(9,262	)
Income (loss) from discontinued operations		43			(206	)		—			(163	)
Net (loss) income	$	(9,425	)	$	4,621		$	(4,621	)	$	(9,425	)

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

	For the Nine Months Ended September 30, 2012
	Carmike Cinemas, Inc.			Guarantor Subsidiaries			Eliminations		Consolidated
Net cash provided by operating activities:	$	1,288		$	34,927		$	—	$	36,215
Cash flows from investing activities:
Purchases of property and equipment		(13,768	)		(12,155	)		—		(25,923	)
Theatre acquistion		—			(702	)		—		(702	)
Investment in unconsolidated affiliates		—			(54	)		—		(54	)
Proceeds from sale of property and equipment		2,059			798			—		2,857
Other investing activities		273			—			—		273
Net cash used in investing activities		(11,436	)		(12,113	)				(23,549	)
Cash flows from financing activities:
Short-term borrowings		5,000			—			—		5,000
Repayments of short term borrowings		(5,000	)		—			—		(5,000	)
Issuance of long-term debt		209,500			—			—		209,500
Repayments of long-term debt		(200,229	)		—			—		(200,229	)
Debt issuance costs		(8,621	)		—			—		(8,621	)
Repayments of capital leases and long-term financing obligations		(252	)		(1,145	)		—		(1,397	)
Issuance of common stock		56,565			—			—		56,565
Purchase of treasury stock		(57	)		—			—		(57	)
Intercompany receivable/payable		20,725			(20,725	)		—		—
Net cash provided by (used in) financing activities		77,631			(21,870	)		—		55,761
Increase in cash and cash equivalents		67,483			944			—		68,427
Cash and cash equivalents at beginning of period		3,623			9,993			—		13,616
Cash and cash equivalents at end of period	$	71,106		$	10,937		$	—	$	82,043

	For the Nine Months Ended September 30, 2011
	Carmike Cinemas, Inc.			Guarantor Subsidiaries			Eliminations		Consolidated
Net cash provided by operating activities:	$	21,830		$	27,693		$	—	$	49,523
Cash flows from investing activities:
Purchases of property and equipment		(1,527	)		(10,779	)				(12,306	)
Theatre acquistion		(2,550	)		—			—		(2,550	)
Investment in unconsolidated affiliates		(718	)		—			—		(718	)
Proceeds from sale of property and equipment		6			438					444
Other investing activities		260			—					260
Net cash used in investing activities		(4,529	)		(10,341	)				(14,870	)
Cash flows from financing activities:
Repayments of long-term debt		(26,698	)		—					(26,698	)
Intercompany receivable/payable		19,188			(19,188	)				—
Repayments of capital lease and long-term financing obligations		(182	)		(1,226	)				(1,408	)
Other financing activities		(614	)		—					(614	)
Net cash used in financing activities		(8,306	)		(20,414	)		—		(28,720	)
Increase / (decrease) in cash and cash equivalents		8,995			(3,062	)		—		5,933
Cash and cash equivalents at beginning of period		3,418			9,648					13,066
Cash and cash equivalents at end of period	$	12,413		$	6,586		$	—	$	18,999