Guarantor Subsidiaries

3 Months Ended

Mar. 31, 2013

Guarantor Subsidiaries [Abstract]

GUARANTOR SUBSIDIARIES

NOTE 13—GUARANTOR SUBSIDIARIES

The Company filed a registration statement which became effective in 2010. The registration statement registers certain securities, including debt securities which may be issued and guaranteed by certain of the Company’s subsidiaries and may be offered on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of 1933, as amended.

The Company may sell debt securities pursuant to the registration statement and if so, it is expected that such securities would be fully and unconditionally guaranteed, on a joint and several basis, by the following 100% directly or indirectly owned subsidiaries: Eastwynn Theatres, Inc., George G. Kerasotes Corporation, GKC Indiana Theatres, Inc., GKC Michigan Theatres, Inc., GKC Theatres, Inc., and Military Services, Inc. The financial information included for the non-guarantor subsidiaries is primarily related to entities acquired in the Rave acquisition in November 2012. Therefore, the Company is providing the following condensed consolidating financial statement information as of March 31, 2013 and December 31, 2012 and for the three months ended March 31, 2013 and 2012 in accordance with SEC Regulation S-X Rule 3-10, Financial Statements of Guarantors and Issuers of Guaranteed Securities Registered or Being Registered:

CONDENSED CONSOLIDATING BALANCE SHEET

	As of March 31, 2013
	Carmike Cinemas, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Assets:
Current assets:
Cash and cash equivalents	$	48,615		$	12,625		$	2,402		$	—		$	63,642
Restricted cash		9			—			—			—			9
Accounts receivable		4,853			336			3,562			(3,290	)		5,461
Inventories		793			2,336			421			—			3,550
Deferred income tax asset		3,203			436			—			—			3,639
Prepaid expenses and other assets		10,503			1,559			3,679			—			15,741
Total current assets		67,976			17,292			10,064			(3,290	)		92,042
Property and equipment:
Land		12,080			39,796			—			—			51,876
Buildings and building improvements		45,581			222,483			67,077			—			335,141
Leasehold improvements		19,213			108,686			15,812			—			143,711
Assets under capital leases		8,675			36,295			—			—			44,970
Equipment		64,883			159,141			12,756			—			236,780
Construction in progress		1,688			4,967			(1	)		—			6,654
Total property and equipment		152,120			571,368			95,644			—			819,132
Accumulated depreciation and amortization		(79,184	)		(295,216	)		(3,482	)		—			(377,882	)
Property and equipment, net of accumulated depreciation		72,936			276,152			92,162			—			441,250
Intercompany receivables		98,363			—			4,841			(103,204	)		—
Investments in subsidiaries		152,897			129			—			(153,026	)		—
Goodwill		—			8,087			36,490			—			44,577
Intangible assets, net of accumulated amortization		—			1,035			—			—			1,035
Investments in unconsolidated affiliates		5,298			933			—			—			6,231
Deferred income tax asset		56,753			43,390			398			—			100,541
Other assets		13,520			5,956			396			—			19,872
Total assets	$	467,743		$	352,974		$	144,351		$	(259,520	)	$	705,548
Liabilities and stockholders’ equity:
Current liabilities:
Accounts payable	$	24,283		$	6,729		$	1,486		$	(3,290	)	$	29,208
Accrued expenses		23,410			10,395			6,423			—			40,228
Current maturities of capital leases and long-term financing obligations		464			2,209			1,874			—			4,547
Total current liabilities		48,157			19,333			9,783			(3,290	)		73,983
Long-term liabilities:
Long-term debt, less current maturities		209,565			—			—			—			209,565
Capital leases and long-term financing obligations, less current maturities		27,777			84,168			107,801			—			219,746
Intercompany liabilities		—			103,204			—			(103,204	)		—
Deferred revenue		32,695			—			—			—			32,695
Other		5,361			13,580			6,430			—			25,371
Total long-term liabilities		275,398			200,952			114,231			(103,204	)		487,377
Stockholders’ equity:
Preferred stock		—			—			—			—			—
Common stock		542			1			—			(1	)		542
Treasury stock		(11,914	)		—			—			—			(11,914	)
Paid-in capital		350,375			237,800			22,213			(260,013	)		350,375
Accumulated deficit		(194,815	)		(105,112	)		(1,876	)		106,988			(194,815	)
Total stockholders’ equity		144,188			132,689			20,337			(153,026	)		144,188
Total liabilities and stockholders’ equity	$	467,743		$	352,974		$	144,351		$	(259,520	)	$	705,548

CONDENSED CONSOLIDATING BALANCE SHEET

	As of December 31, 2012
	Carmike Cinemas, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Assets:
Current assets:
Cash and cash equivalents	$	49,093		$	14,870		$	4,568		$	—		$	68,531
Restricted cash		293			—			—			—			293
Accounts receivable		5,058			874			5,250			(4,627	)		6,555
Inventories		926			2,823			437			—			4,186
Deferred income tax asset		3,203			—			—			(307	)		2,896
Prepaid expenses and other current assets		3,426			5,173			2,337			—			10,936
Total current assets		61,999			23,740			12,592			(4,934	)		93,397
Property and equipment:
Land		12,080			39,796			—			—			51,876
Buildings and building improvements		45,571			223,090			67,077			—			335,738
Leasehold improvements		19,200			107,111			15,447			—			141,758
Assets under capital leases		8,675			36,295			—			—			44,970
Equipment		64,167			158,333			12,723			—			235,223
Construction in progress		1,352			3,833			—			—			5,185
Total property and equipment		151,045			568,458			95,247			—			814,750
Accumulated depreciation and amortization		(77,302	)		(291,132	)		(1,389	)		—			(369,823	)
Property and equipment, net of accumulated depreciation		73,743			277,326			93,858			—			444,927
Intercompany receivables		92,801			—			7,002			(99,803	)		—
Investments in subsidiaries		157,522			126			—			(157,648	)		—
Goodwill		—			8,087			36,490			—			44,577
Intangible assets, net of accumulated amortization		—			1,061			—			—			1,061
Investments in unconsolidated affiliates		6,740			942			—			—			7,682
Deferred income tax asset		57,247			42,765			—			—			100,012
Other assets		14,299			6,026			747			—			21,072
Total assets	$	464,351		$	360,073		$	150,689		$	(262,385	)	$	712,728
Liabilities and stockholders’ equity:
Current liabilities:
Accounts payable	$	24,071		$	9,704		$	2,993		$	(4,627	)	$	32,141
Accrued expenses		14,601			17,250			8,505			(307	)		40,049
Current maturities of capital leases and long-term financing obligations		442			2,169			1,811			—			4,422
Total current liabilities		39,114			29,123			13,309			(4,934	)		76,612
Long-term liabilities:
Long-term debt, less current maturities		209,548			—			—			—			209,548
Capital leases and long-term financing obligations, less current maturities		27,876			84,557			108,292			—			220,725
Intercompany liabilities		—			99,803			—			(99,803	)		—
Deferred revenue		32,984			—			—			—			32,984
Other		5,395			11,487			6,543			—			23,425
Total long-term liabilities		275,803			195,847			114,835			(99,803	)		486,682
Stockholders’ equity:
Preferred stock		—			—			—			—			—
Common stock		540			1			—			(1	)		540
Treasury stock		(11,740	)		—			—			—			(11,740	)
Paid-in capital		349,666			237,800			22,037			(259,837	)		349,666
Accumulated deficit		(189,032	)		(102,698	)		508			102,190			(189,032	)
Total stockholders’ equity		149,434			135,103			22,545			(157,648	)		149,434
Total liabilities and stockholders’ equity	$	464,351		$	360,073		$	150,689		$	(262,385	)	$	712,728

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS

	Three Months Ended March 31, 2013
	Carmike Cinemas, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Revenues:
Admissions	$	11,244		$	58,712		$	11,566		$	—		$	81,522
Concessions and other		13,977			34,808			6,256			(6,470	)		48,571
Total operating revenues		25,221			93,520			17,822			(6,470	)		130,093
Operating costs and expenses:
Film exhibition costs		6,037			30,901			6,326			—			43,264
Concession costs		901			4,278			790			—			5,969
Other theatre operating costs		9,849			46,079			8,501			(6,470	)		57,959
General and administrative expenses		5,429			570			16			—			6,015
Lease termination charges		—			3,063			—			—			3,063
Depreciation and amortization		1,879			6,262			2,093			—			10,234
Loss on sale of property and equipment		5			75			—			—			80
Impairment of long-lived assets		—			204			—			—			204
Total operating costs and expenses		24,100			91,432			17,726			(6,470	)		126,788
Operating income		1,121			2,088			96			—			3,305
Interest expense		2,025			6,157			4,116			—			12,298
Equity in loss of subsidiaries		4,801			—			—			(4,801	)		—
Loss before income tax and (loss) income from unconsolidated affiliates		(5,705	)		(4,069	)		(4,020	)		4,801			(8,993	)
Income tax benefit		(1,008	)		(1,654	)		(1,635	)		—			(4,297	)
(Loss) income from unconsolidated affiliates		(1,088	)		73			—			—			(1,015	)
Loss from continuing operations		(5,785	)		(2,342	)		(2,385	)		4,801			(5,711	)
Income (loss) from discontinued operations		2			(74	)		—			—			(72	)
Net loss	$	(5,783	)	$	(2,416	)	$	(2,385	)	$	4,801		$	(5,783	)

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS

	Three Months Ended March 31, 2012
	Carmike Cinemas, Inc.			Guarantor Subsidiaries		Eliminations			Consolidated
Revenues:
Admissions	$	13,721		$	68,969	$	—		$	82,690
Concessions and other		14,798			38,791		(6,313	)		47,276
Total operating revenues		28,519			107,760		(6,313	)		129,966
Operating costs and expenses:
Film exhibition costs		7,204			36,039		—			43,243
Concession costs		1,010			4,556		—			5,566
Other theatre operating costs		11,106			47,339		(6,313	)		52,132
General and administrative expenses		4,428			572		—			5,000
Depreciation and amortization		1,707			6,060		—			7,767
Loss on sale of property and equipment		21			227		—			248
Impairment of long-lived assets		9			1,477		—			1,486
Total operating costs and expenses		25,485			96,270		(6,313	)		115,442
Operating income		3,034			11,490		—			14,524
Interest expense		2,519			5,744		—			8,263
Equity in loss of subsidiaries		(3,372	)		—		3,372			—
Income before income tax and (loss) income from unconsolidated affiliates		3,887			5,746		(3,372	)		6,261
Income tax (benefit) expense		(97	)		2,504		—			2,407
(Loss) income from unconsolidated affiliates		(654	)		111		—			(543	)
Income from continuing operations		3,330			3,353		(3,372	)		3,311
Loss from discontinued operations		(98	)		19		—			(79	)
Net income	$	3,232		$	3,372	$	(3,372	)	$	3,232

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

	For the Three Months Ended March 31, 2013
	Carmike Cinemas, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations		Consolidated
Net cash provided by operating activities	$	7,831		$	(3,145	)	$	1,138		$	—	$	5,824
Cash flows from investing activities:
Purchases of property and equipment		(2,708	)		(5,403	)		(397	)		—		(8,508	)
Theatre acquisition		—			—			(1,349	)		—		(1,349	)
Proceeds from sale of property and equipment		5			—			—			—		5
Other investing activities		284			—			—			—		284
Net cash used in investing activities		(2,419	)		(5,403	)		(1,746	)				(9,568	)
Cash flows from financing activities:
Repayments of capital leases and long-term financing obligations		(103	)		(438	)		(430	)		—		(971	)
Purchase of treasury stock		(174	)		—			—			—		(174	)
Intercompany receivable/payable		(5,613	)		6,741			(1,128	)		—		—
Net cash (used in) provided by financing activities		(5,890	)		6,303			(1,558	)		—		(1,145	)
Increase in cash and cash equivalents		(478	)		(2,245	)		(2,166	)		—		(4,889	)
Cash and cash equivalents at beginning of period		49,093			14,870			4,568			—		68,531
Cash and cash equivalents at end of period	$	48,615		$	12,625		$	2,402		$	—	$	63,642

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

	For the Three Months Ended March 31, 2012
	Carmike Cinemas, Inc.			Guarantor Subsidiaries			Eliminations		Consolidated
Net cash (used in) provided by operating activities	$	(4,310	)	$	14,263		$	—	$	9,953
Cash flows from investing activities:
Purchases of property and equipment		(2,837	)		(3,153	)		—		(5,990	)
Purchase acquisition		—			(702	)		—		(702	)
Proceeds from sale of property and equipment		40			18			—		58
Other investing activities		301			—			—		301
Net cash used in investing activities		(2,496	)		(3,837	)				(6,333	)
Cash flows from financing activities:
Short-term borrowings		5,000			—			—		5,000
Repayments of short-term borrowings		(5,000	)		—			—		(5,000	)
Repayments of long-term debt		(511	)		—			—		(511	)
Intercompany receivable/payable		7,745			(7,745	)		—		—
Repayments of capital lease and long-term financing obligations		(79	)		(357	)		—		(436	)
Net cash provided by (used in) financing activities		7,155			(8,102	)		—		(947	)
Increase in cash and cash equivalents		349			2,324			—		2,673
Cash and cash equivalents at beginning of period		3,623			9,993			—		13,616
Cash and cash equivalents at end of period	$	3,972		$	12,317		$	—	$	16,289

In June 2012, the Company issued in a registered exchange offer $210,000 aggregate principal amount of 7.375% Senior Secured Notes due May 15, 2019. The Senior Secured Notes are fully and unconditionally guaranteed, on a joint and several basis, by the following 100% directly or indirectly owned subsidiaries: Eastwynn Theatres, Inc., George G. Kerasotes Corporation, GKC Indiana Theatres, Inc., GKC Michigan Theatres, Inc., GKC Theatres, Inc., Military Services, Inc., Carmike Giftco, Inc., Carmike Reviews Holdings, LLC, Carmike Motion Pictures Birmingham, LLC, Carmike Motion Pictures Birmingham II, LLC, Carmike Motion Pictures Birmingham III, LLC, Carmike Motion Pictures Chattanooga, LLC, Carmike Motion Pictures Daphne, LLC, Carmike Motion Pictures Pensacola, LLC, Carmike Motion Pictures Pensacola II, LLC, Carmike Motion Pictures Indianapolis, LLC, Carmike Motion Pictures Huntsville, LLC, Carmike Motion Pictures Ft. Wayne, LLC, Carmike Motion Pictures Melbourne, LLC, Carmike Motion Pictures Peoria, LLC, Carmike Motion Pictures Port St. Lucie, LLC, Carmike Motion Pictures Orange Beach, LLC, Carmike Motion Pictures Allentown, LLC, Carmike Houston LP, LLC, Carmike Houston GP, LLC and Carmike Motion Pictures Houston, LLC. For the three months ended March 31, 2012, all subsidiaries were guarantors under the Senior Secured Notes as presented above in the condensed consolidated statement of operations and cash flows for the three months ended March 31, 2012. Therefore, the Company is providing the following condensed consolidating financial statement information as of March 31, 2013 and December 31, 2012 and for the three months ended March 31, 2013 in accordance with SEC Regulation S-X Rule 3-10, Financial Statements of Guarantors and Issuers of Guaranteed Securities Registered or Being Registered:

CONDENSED CONSOLIDATING BALANCE SHEET

	As of March 31, 2013
	Carmike Cinemas, Inc.			Guarantor Subsidiaries			Eliminations			Consolidated
Assets:
Current assets:
Cash and cash equivalents	$	48,615		$	15,027		$	—		$	63,642
Restricted cash		9			—			—			9
Accounts receivable		4,853			3,898			(3,290	)		5,461
Inventories		793			2,757			—			3,550
Deferred income tax asset		3,203			436			—			3,639
Prepaid expenses and other assets		10,503			5,238			—			15,741
Total current assets		67,976			27,356			(3,290	)		92,042
Property and equipment:
Land		12,080			39,796			—			51,876
Buildings and building improvements		45,581			289,560			—			335,141
Leasehold improvements		19,213			124,498			—			143,711
Assets under capital leases		8,675			36,295			—			44,970
Equipment		64,883			171,897			—			236,780
Construction in progress		1,688			4,966			—			6,654
Total property and equipment		152,120			667,012			—			819,132
Accumulated depreciation and amortization		(79,184	)		(298,698	)		—			(377,882	)
Property and equipment, net of accumulated depreciation		72,936			368,314			—			441,250
Intercompany receivables		98,363			—			(98,363	)		—
Investments in subsidiaries		152,897			129			(153,026	)		—
Goodwill		—			44,577			—			44,577
Intangible assets, net of accumulated amortization		—			1,035			—			1,035
Investments in unconsolidated affiliates		5,298			933			—			6,231
Deferred income tax asset		56,753			43,788			—			100,541
Other assets		13,520			6,352			—			19,872
Total assets	$	467,743		$	492,484		$	(254,679	)	$	705,548
Liabilities and stockholders’ equity:
Current liabilities:
Accounts payable	$	24,283		$	8,215		$	(3,290	)	$	29,208
Accrued expenses		23,410			16,818			—			40,228
Current maturities of capital leases and long-term financing obligations		464			4,083			—			4,547
Total current liabilities		48,157			29,116			(3,290	)		73,983
Long-term liabilities:
Long-term debt, less current maturities		209,565			—			—			209,565
Capital leases and long-term financing obligations, less current maturities		27,777			191,969			—			219,746
Intercompany liabilities		—			98,363			(98,363	)		—
Deferred revenue		32,695			—			—			32,695
Other		5,361			20,010			—			25,371
Total long-term liabilities		275,398			310,342			(98,363	)		487,377
Stockholders’ equity:
Preferred stock		—			—			—			—
Common stock		542			1			(1	)		542
Treasury stock		(11,914	)		—			—			(11,914	)
Paid-in capital		350,375			260,013			(260,013	)		350,375
Accumulated deficit		(194,815	)		(106,988	)		106,988			(194,815	)
Total stockholders’ equity		144,188			153,026			(153,026	)		144,188
Total liabilities and stockholders’ equity	$	467,743		$	492,484		$	(254,679	)	$	705,548

CONDENSED CONSOLIDATING BALANCE SHEET

	As of December 31, 2012
	Carmike Cinemas, Inc.			Guarantor Subsidiaries			Eliminations			Consolidated
Assets:
Current assets:
Cash and cash equivalents	$	49,093		$	19,438		$	—		$	68,531
Restricted cash		293			—			—			293
Accounts receivable		5,058			6,124			(4,627	)		6,555
Inventories		926			3,260			—			4,186
Deferred income tax asset		3,203			—			(307	)		2,896
Prepaid expenses and other assets		3,426			7,510			—			10,936
Total current assets		61,999			36,332			(4,934	)		93,397
Property and equipment:
Land		12,080			39,796			—			51,876
Buildings and building improvements		45,571			290,167			—			335,738
Leasehold improvements		19,200			122,558			—			141,758
Assets under capital leases		8,675			36,295			—			44,970
Equipment		64,167			171,056			—			235,223
Construction in progress		1,352			3,833			—			5,185
Total property and equipment		151,045			663,705			—			814,750
Accumulated depreciation and amortization		(77,302	)		(292,521	)		—			(369,823	)
Property and equipment, net of accumulated depreciation		73,743			371,184			—			444,927
Intercompany receivables		92,801			—			(92,801	)		—
Investments in subsidiaries		157,522			126			(157,648	)		—
Goodwill		—			44,577			—			44,577
Intangible assets, net of accumulated amortization		—			1,061			—			1,061
Investments in unconsolidated affiliates		6,740			942			—			7,682
Deferred income tax asset		57,247			42,765			—			100,012
Other assets		14,299			6,773			—			21,072
Total assets	$	464,351		$	503,760		$	(255,383	)	$	712,728
Liabilities and stockholders’ equity:
Current liabilities:
Accounts payable	$	24,071		$	12,697		$	(4,627	)	$	32,141
Accrued expenses		14,601			25,755			(307	)		40,049
Current maturities of capital leases and long-term financing obligations		442			3,980			—			4,422
Total current liabilities		39,114			42,432			(4,934	)		76,612
Long-term liabilities:
Long-term debt, less current maturities		209,548			—			—			209,548
Capital leases and long-term financing obligations, less current maturities		27,876			192,849			—			220,725
Intercompany liabilities		—			92,801			(92,801	)		—
Deferred revenue		32,984			—			—			32,984
Other		5,395			18,030			—			23,425
Total long-term liabilities		275,803			303,680			(92,801	)		486,682
Stockholders’ equity:
Preferred stock		—			—			—			—
Common stock		540			1			(1	)		540
Treasury stock		(11,740	)		—			—			(11,740	)
Paid-in capital		349,666			259,837			(259,837	)		349,666
Accumulated deficit		(189,032	)		(102,190	)		102,190			(189,032	)
Total stockholders’ equity		149,434			157,648			(157,648	)		149,434
Total liabilities and stockholders’ equity	$	464,351		$	503,760		$	(255,383	)	$	712,728

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS

	Three Months Ended March 31, 2013
	Carmike Cinemas, Inc.			Guarantor Subsidiaries			Eliminations			Consolidated
Revenues:
Admissions	$	11,244		$	70,278		$	—		$	81,522
Concessions and other		13,977			41,064			(6,470	)		48,571
Total operating revenues		25,221			111,342			(6,470	)		130,093
Operating costs and expenses:
Film exhibition costs		6,037			37,227			—			43,264
Concession costs		901			5,068			—			5,969
Other theatre operating costs		9,849			54,580			(6,470	)		57,959
General and administrative expenses		5,429			586			—			6,015
Lease termination charges		—			3,063			—			3,063
Depreciation and amortization		1,879			8,355			—			10,234
Loss on sale of property and equipment		5			75			—			80
Impairment of long-lived assets		—			204			—			204
Total operating costs and expenses		24,100			109,158			(6,470	)		126,788
Operating income		1,121			2,184			—			3,305
Interest expense		2,025			10,273			—			12,298
Equity in loss of subsidiaries		4,801			—			(4,801	)		—
(Loss) before income tax and (loss) income from unconsolidated affiliates		(5,705	)		(8,089	)		4,801			(8,993	)
Income tax benefit		(1,008	)		(3,289	)		—			(4,297	)
(Loss) income from unconsolidated affiliates		(1,088	)		73			—			(1,015	)
Loss from continuing operations		(5,785	)		(4,727	)		4,801			(5,711	)
Income (loss) from discontinued operations		2			(74	)		—			(72	)
Net loss	$	(5,783	)	$	(4,801	)	$	4,801		$	(5,783	)

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

	For the Three Months Ended March 31, 2013
	Carmike Cinemas, Inc.			Guarantor Subsidiaries			Eliminations		Consolidated
Net cash provided by operating activities	$	7,831		$	(2,007	)	$	—	$	5,824
Cash flows from investing activities:
Purchases of property and equipment		(2,708	)		(5,800	)		—		(8,508	)
Theatre acquisition		—			(1,349	)		—		(1,349	)
Proceeds from sale of property and equipment		5			—			—		5
Other investing activities		284			—			—		284
Net cash used in investing activities		(2,419	)		(7,149	)				(9,568	)
Cash flows from financing activities:
Repayments of capital leases and long-term financing obligations		(103	)		(868	)		—		(971	)
Purchase of treasury stock		(174	)		—			—		(174	)
Intercompany receivable/payable		(5,613	)		5,613			—		—
Net cash provided by (used in) financing activities		(5,890	)		4,745			—		(1,145	)
Increase in cash and cash equivalents		(478	)		(4,411	)		—		(4,889	)
Cash and cash equivalents at beginning of period		49,093			19,438			—		68,531
Cash and cash equivalents at end of period	$	48,615		$	15,027		$	—	$	63,642