v3.25.3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS Unaudited - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Adjustments to reconcile net income to cash and cash equivalents    
Loss on debt amendments and extinguishments $ (1.5) $ (5.5)
Loss on warrants [1] 0.0 0.0
Impairment of long-lived and other assets 2.2 0.0
Share-based awards compensation expense (26.1) (24.1)
Non-cash rent expense (8.5) (10.2)
Financing activities    
Payments on finance leases (11.5) (11.4)
CNK    
Operating activities    
Net income 106.6 260.8
Adjustments to reconcile net income to cash and cash equivalents    
Depreciation 149.3 146.7
Amortization of intangible and other assets 0.5 1.6
Loss on debt amendments and extinguishments 1.5 5.5
Loss on warrants 54.5 0.0
Amortization of original issue discount and debt issuance costs 5.9 6.9
Amortization of accumulated losses (gains) for amended swap agreements 2.7 (10.5)
Impairment of long-lived and other assets 2.2 0.0
Share-based awards compensation expense 26.1 24.1
(Gain) loss on disposal of assets and other (0.1) 2.0
Non-cash rent expense (8.5) (10.2)
Equity in income of affiliates (5.1) (11.3)
Deferred income tax benefit (benefit) (23.1) (104.1)
Distributions from equity investees 8.0 5.1
Changes in assets and liabilities and other (73.1) (26.4)
Net cash provided by operating activities 248.3 269.6
Investing activities    
Additions to theater properties and equipment (105.6) (90.2)
Proceeds from sale of theater properties and equipment and other 7.0 0.5
Net cash used for investing activities (98.6) (89.1)
Financing activities    
Dividends paid to stockholders (28.3) 0.0
Repurchases of common stock under share repurchase program (200.0) 0.0
Repayment of 4.50% Senior Convertible Notes (460.0) 0.0
Settlements related to warrant unwind agreements (39.2) 0.0
Proceeds from issuance of 7.00% Senior Notes 0.0 500.0
Redemption of 8.75% Secured Notes 0.0 (405.0)
Repayment of 5.875% Senior Notes 0.0 (150.0)
Payment of debt issuance costs (1.2) (9.5)
Payment of fees to amend senior secured credit facility and satisfy and discharge the 5.875% Senior Notes (0.2) (1.3)
Other repayments of long-term debt (4.8) (11.0)
Restricted stock withholdings for payroll taxes (17.6) (4.4)
Payments on finance leases (11.5) (11.4)
Other financing activities 1.0 (2.1)
Net cash used for financing activities (761.8) (94.7)
Effect of exchange rate changes on cash and cash equivalents 16.1 (6.6)
(Decrease) increase in cash and cash equivalents (596.0) 79.2
Cash and cash equivalents:    
Beginning of period 1,057.3 849.1
End of period 461.3 928.3
CUSA    
Operating activities    
Net income 127.9 268.6
Adjustments to reconcile net income to cash and cash equivalents    
Depreciation 149.3 146.7
Amortization of intangible and other assets 0.5 1.6
Loss on debt amendments and extinguishments 1.5 5.5
Amortization of original issue discount and debt issuance costs 3.8 4.3
Amortization of accumulated losses (gains) for amended swap agreements 2.7 (10.5)
Impairment of long-lived and other assets 2.2 0.0
Share-based awards compensation expense 25.1 23.1
(Gain) loss on disposal of assets and other (0.1) 2.0
Non-cash rent expense (8.5) (10.2)
Equity in income of affiliates (5.1) (11.3)
Deferred income tax benefit (benefit) 23.9 (99.1)
Distributions from equity investees 8.0 5.1
Changes in assets and liabilities and other (72.0) (25.7)
Net cash provided by operating activities 260.1 279.5
Investing activities    
Additions to theater properties and equipment (105.6) (90.2)
Proceeds from sale of theater properties and equipment and other 7.0 0.5
Net cash used for investing activities (98.6) (89.1)
Financing activities    
Distributions to parent (509.1) 0.0
Proceeds from issuance of 7.00% Senior Notes 0.0 500.0
Repayment of 5.875% Senior Notes 0.0 (150.0)
Payment of debt issuance costs (1.2) (9.5)
Other repayments of long-term debt (4.8) (11.0)
Restricted stock withholdings for payroll taxes (17.6) (4.4)
Payments on finance leases (11.5) (11.4)
Other financing activities 0.3 (2.1)
Net cash used for financing activities (544.1) (94.7)
Effect of exchange rate changes on cash and cash equivalents 16.1 (6.6)
(Decrease) increase in cash and cash equivalents (366.5) 89.1
Cash and cash equivalents:    
Beginning of period 827.4 612.4
End of period 460.9 701.5
5.875% Senior Notes | CUSA    
Financing activities    
Redemption of 8.75% Secured Notes 0.0 (405.0)
Payment of fees to amend senior secured credit facility and satify and discharge the 5.875% Senior Notes (0.2) (1.3)
NCM | CNK    
Adjustments to reconcile net income to cash and cash equivalents    
Interest accrued related to significant financing component 16.0 16.5
Amortization of NCM screen advertising advances (24.4) (24.3)
Investing activities    
Proceeds from redemption of common units of NCM 0.0 0.6
NCM | CUSA    
Adjustments to reconcile net income to cash and cash equivalents    
Interest accrued related to significant financing component 16.0 16.5
Amortization of NCM screen advertising advances (24.4) (24.3)
Investing activities    
Proceeds from redemption of common units of NCM 0.0 0.6
NCMI | CNK    
Adjustments to reconcile net income to cash and cash equivalents    
Net loss (gain) on investment in NCMI 9.3 (12.8)
NCMI | CUSA    
Adjustments to reconcile net income to cash and cash equivalents    
Net loss (gain) on investment in NCMI $ 9.3 $ (12.8)
[1] For the three and nine months ended September 30, 2025, diluted earnings per share excludes the warrants, as they would be anti-dilutive when adjusting the basic net income attributable to common shareholders for the loss on warrants recorded during each respective period.

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