v3.24.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Operating activities      
Net (loss) income $ 191.5 $ (268.0) $ (422.2)
Adjustments to reconcile net (loss) income to cash provided by operating activities:      
Loss on debt extinguishment and refinancing (10.7) 0.0 (6.5)
Impairment of long-lived and other assets 16.6 174.1 20.8
Share based awards compensation expense 25.0 21.5 29.3
Non-cash rent expense (17.9) (10.8) (3.4)
Deferred income tax (benefit) expense 10.6 (9.3) (22.6)
Financing activities      
Payments on finance leases (14.4) (14.3) (14.7)
CUSA [Member]      
Operating activities      
Net (loss) income 208.6 (228.7) (380.1)
Adjustments to reconcile net (loss) income to cash provided by operating activities:      
Depreciation 207.3 235.7 262.7
Amortization of intangible and other assets 2.2 2.5 2.7
Loss on debt extinguishment and refinancing 10.7 0.0 6.5
Amortization of debt issuance costs 6.7 7.5 7.3
Amortization of accumulated losses (gains) for amended swap agreements (6.4) 4.5 4.5
Impairment of long-lived and other assets 16.6 174.1 20.8
Share based awards compensation expense 23.8 20.5 28.4
Loss (gain) on disposal of assets and other (7.7) (6.8) 8.0
Unrealized gain on investment in NCMI (12.4) 0.0 0.0
Non-cash rent expense (17.9) (10.8) (3.4)
Equity in loss (income) of affiliates (3.6) 9.3 25.0
Deferred income tax (benefit) expense 8.5 (25.4) (38.1)
Distributions from equity investees 5.7 6.9 0.2
Changes in other assets and liabilities:      
Inventories 0.3 (8.2) (2.9)
Accounts receivable (12.6) (3.0) (49.3)
Income tax receivable (11.5) 1.5 112.3
Prepaid expenses and other (2.3) (2.3) (1.8)
Deferred charges and other assets, net 0.3 (1.2) 0.8
Accounts payable and accrued expenses 46.1 (24.9) 175.2
Income tax payable 1.0 3.2 (5.9)
Liabilities for uncertain tax positions (0.1) 2.0 30.2
Other long-term liabilities 1.1 6.3 (17.9)
Net cash provided by operating activities 454.8 153.4 176.4
Investing activities      
Additions to theatre properties and equipment and other (149.5) (110.7) (95.5)
Net proceeds from sale of subsidiary 14.8 0.0 0.0
Proceeds from sale of assets and other 2.9 14.4 6.2
Net cash (used for) provided by investing activities (131.8) (96.3) (89.3)
Financing activities      
Proceeds from refinancing of senior secured credit facility 640.2 0.0 0.0
Repayment of term loan upon refinancing of senior secured credit facility (624.9) 0.0 0.0
Redemption of $100.0 of 8.75% Secured Notes at 102.2% (102.2) 0.0 0.0
Proceeds from issuance of senior notes 0.0 0.0 1,170.0
Redemption of senior notes 0.0 0.0 (1,155.0)
Proceeds from other borrowings 0.0 0.0 13.5
Payment of debt issuance costs (7.5) 0.0 (17.3)
Fees paid related to debt refinancing (2.6) 0.0 (2.0)
Other repayments of long-term debt (10.6) (28.1) (10.3)
Contributions received from parent 0.0 0.0 120.0
Restricted stock withholdings for payroll taxes (2.9) (4.3) (4.1)
Payments on finance leases (14.4) (14.3) (14.7)
Other (0.5) (5.5) 0.0
Net cash used for financing activities (125.4) (52.2) 100.1
Effect of exchange rate changes on cash and cash equivalents (12.5) (20.3) (5.0)
Increase (decrease) in cash and cash equivalents 185.1 (15.4) 182.2
Cash and cash equivalents:      
Beginning of period 427.3 442.7 260.5
End of period 612.4 427.3 442.7
CNK [Member]      
Operating activities      
Net (loss) income 191.5 (268.0) (422.2)
Adjustments to reconcile net (loss) income to cash provided by operating activities:      
Depreciation 207.3 235.7 262.7
Amortization of intangible and other assets 2.2 2.5 2.7
Loss on debt extinguishment and refinancing 10.7 0.0 6.5
Amortization of debt issuance costs 10.2 10.9 10.7
Amortization of accumulated losses (gains) for amended swap agreements (6.4) 4.5 4.5
Impairment of long-lived and other assets 16.6 174.1 20.8
Share based awards compensation expense 25.0 21.5 29.3
Loss (gain) on disposal of assets and other (7.7) (6.8) 8.0
Unrealized gain on investment in NCMI (12.4) 0.0 0.0
Non-cash rent expense (17.9) (10.8) (3.4)
Equity in loss (income) of affiliates (3.6) 9.3 25.0
Deferred income tax (benefit) expense 10.6 (9.3) (22.6)
Distributions from equity investees 5.7 6.9 0.2
Changes in other assets and liabilities:      
Inventories 0.3 (8.2) (2.9)
Accounts receivable (11.5) (1.2) (43.6)
Income tax receivable (12.1) 1.5 118.5
Prepaid expenses and other (2.3) (2.3) (1.8)
Deferred charges and other assets, net 0.3 (1.2) 0.8
Accounts payable and accrued expenses 45.4 (25.1) 175.5
Income tax payable 1.0 3.2 (6.0)
Liabilities for uncertain tax positions (0.1) 2.0 30.2
Other long-term liabilities 1.1 6.1 (17.9)
Net cash provided by operating activities 444.3 136.0 166.2
Investing activities      
Additions to theatre properties and equipment and other (149.5) (110.7) (95.5)
Net proceeds from sale of subsidiary 14.8 0.0 0.0
Proceeds from sale of assets and other 2.9 14.4 6.2
Net cash (used for) provided by investing activities (131.8) (96.3) (89.3)
Financing activities      
Proceeds from refinancing of senior secured credit facility 640.2 0.0 0.0
Repayment of term loan upon refinancing of senior secured credit facility (624.9) 0.0 0.0
Redemption of $100.0 of 8.75% Secured Notes at 102.2% (102.2) 0.0 0.0
Proceeds from issuance of senior notes 0.0 0.0 1,170.0
Redemption of senior notes 0.0 0.0 (1,155.0)
Proceeds from other borrowings 0.0 0.0 13.5
Payment of debt issuance costs (7.5) 0.0 (17.3)
Fees paid related to debt refinancing (2.6) 0.0 (2.0)
Other repayments of long-term debt (10.6) (28.1) (10.3)
Restricted stock withholdings for payroll taxes (2.9) (4.3) (4.1)
Payments on finance leases (14.4) (14.3) (14.7)
Other (0.5) (5.5) 0.0
Net cash used for financing activities (125.4) (52.2) (19.9)
Effect of exchange rate changes on cash and cash equivalents (12.5) (20.3) (5.0)
Increase (decrease) in cash and cash equivalents 174.6 (32.8) 52.0
Cash and cash equivalents:      
Beginning of period 674.5 707.3 655.3
End of period 849.1 674.5 707.3
NCM | CUSA [Member]      
Adjustments to reconcile net (loss) income to cash provided by operating activities:      
Interest accrued on NCM screen advertising advances 22.6 23.2 23.6
Amortization of NCM screen advertising advances and other deferred revenues (32.4) (32.5) (32.4)
NCM | CNK [Member]      
Adjustments to reconcile net (loss) income to cash provided by operating activities:      
Interest accrued on NCM screen advertising advances 22.6 23.2 23.6
Amortization of NCM screen advertising advances and other deferred revenues (32.4) (32.5) (32.4)
NCMI [Member] | CUSA [Member]      
Adjustments to reconcile net (loss) income to cash provided by operating activities:      
Unrealized gain on investment in NCMI 12.4 0.0 0.0
NCMI [Member] | CNK [Member]      
Adjustments to reconcile net (loss) income to cash provided by operating activities:      
Unrealized gain on investment in NCMI $ (12.4) $ 0.0 $ 0.0

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