v3.25.4
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Adjustments to reconcile net income to cash provided by operating activities:      
Loss on debt amendments and extinguishments $ 1.5 $ 6.9 $ 10.7
Loss on warrants [1] 0.0 0.0 0.0
Impairment of long-lived and other assets 6.5 1.5 16.6
Share-based awards compensation expense 36.5 33.5 25.0
Non-cash rent expense (11.2) (12.5) (17.9)
Deferred income tax expense (benefit) (19.2) (110.8) 10.6
Financing activities      
Payments on finance leases (15.4) (15.3) (14.4)
CUSA      
Operating activities      
Net income 148.5 324.1 208.6
Adjustments to reconcile net income to cash provided by operating activities:      
Depreciation 201.4 195.4 207.3
Amortization of intangible and other assets 0.5 2.1 2.2
Loss on debt amendments and extinguishments 1.5 6.9 10.7
Amortization of original issue discount and debt issuance costs 5.1 5.6 6.7
Amortization of accumulated (gains) losses for amended swap agreements 3.6 (14.4) (6.4)
Impairment of long-lived and other assets 6.5 1.5 16.6
Share-based awards compensation expense 35.1 32.2 23.8
(Gain) loss on disposal of assets and other 2.1 1.6 (7.7)
Change in unrealized (gain) loss on investment in NCMI 12.0 (11.0) (12.4)
Non-cash rent expense (11.2) (12.5) (17.9)
Equity in loss (income) of affiliates (6.6) (11.9) (3.6)
Deferred income tax expense (benefit) 27.5 (107.1) 8.5
Distributions from equity investees 8.9 9.3 5.7
Changes in other assets and liabilities:      
Inventories 1.9 (7.7) 0.3
Accounts receivable (16.3) (26.7) (12.6)
Income tax receivable (9.7) 3.8 (11.5)
Prepaid expenses and other (2.0) (3.8) (2.3)
Deferred charges and other assets, net (2.0) 1.8 0.3
Accounts payable and accrued expenses 7.5 88.9 46.1
Income tax payable 0.6 (1.8) 1.0
Liabilities for uncertain tax positions 4.2 3.5 0.1
Other long-term liabilities 0.3 3.4 1.1
Net cash (used for) provided by operating activities 408.1 472.8 454.8
Investing activities      
Additions to theatre properties and equipment and other (218.9) (150.8) (149.5)
Net proceeds from sale of subsidiary 0.0 0.0 14.8
Proceeds from sale of theater properties and equipment and other 9.7 3.3 2.9
Net cash provided by investing activities (209.2) (146.9) (131.8)
Financing activities      
Distributons Paid to Parent (653.2) 0.0 0.0
Proceeds from amendment of senior secured credit facility 0.0 0.0 640.2
Repayment of term loan upon amendment of senior secured credit facility 0.0 0.0 (624.9)
Proceeds from issuance of 7.00% Senior Notes 0.0 500.0 0.0
Payment of debt issuance costs (1.2) (10.3) (7.5)
Payment of fees for debt amendments and extinguishments (0.2) (1.6) (2.6)
Other repayments of long-term debt (6.4) (12.6) (10.6)
Restricted stock withholdings for payroll taxes (18.1) (4.9) (2.9)
Payments on finance leases (15.4) (15.3) (14.4)
Other financing activities (0.9) (3.4) (0.5)
Net cash used for financing activities (695.4) (103.1) (125.4)
Effect of exchange rate changes on cash and cash equivalents 13.2 (7.8) (12.5)
Increase in cash and cash equivalents (483.3) 215.0 185.1
Cash and cash equivalents:      
Beginning of period 827.4 612.4 427.3
End of period 344.1 827.4 612.4
CNK [Member]      
Operating activities      
Net income 141.5 312.9 191.5
Adjustments to reconcile net income to cash provided by operating activities:      
Depreciation 201.4 195.4 207.3
Amortization of intangible and other assets 0.5 2.1 2.2
Loss on debt amendments and extinguishments 1.5 6.9 10.7
Loss on warrants 39.3 0.0 0.0
Amortization of original issue discount and debt issuance costs 7.2 9.0 10.2
Amortization of accumulated (gains) losses for amended swap agreements 3.6 (14.4) (6.4)
Impairment of long-lived and other assets 6.5 1.5 16.6
Share-based awards compensation expense 36.5 33.5 25.0
(Gain) loss on disposal of assets and other 2.1 1.6 (7.7)
Change in unrealized (gain) loss on investment in NCMI 12.0 (11.0) (12.4)
Non-cash rent expense (11.2) (12.5) (17.9)
Equity in loss (income) of affiliates (6.6) (11.9) (3.6)
Deferred income tax expense (benefit) (19.2) (110.8) 10.6
Distributions from equity investees 8.9 9.3 5.7
Changes in other assets and liabilities:      
Inventories 1.9 (7.7) 0.3
Accounts receivable (6.4) (23.2) (11.5)
Income tax receivable (11.2) 0.0 (12.1)
Prepaid expenses and other (2.2) (3.7) (2.3)
Deferred charges and other assets, net (2.0) 1.8 0.3
Accounts payable and accrued expenses (1.4) 89.3 45.4
Income tax payable 0.6 1.4 1.0
Liabilities for uncertain tax positions 4.2 3.5 0.1
Other long-term liabilities (0.1) 3.4 1.1
Net cash (used for) provided by operating activities 396.1 466.0 444.3
Investing activities      
Additions to theatre properties and equipment and other (218.9) (150.8) (149.5)
Net proceeds from sale of subsidiary 0.0 0.0 14.8
Proceeds from sale of theater properties and equipment and other 9.7 3.3 2.9
Net cash provided by investing activities (209.2) (146.9) (131.8)
Financing activities      
Dividends paid to stockholders (38.9) 0.0 0.0
Repurchases of common stock under share repurchase program (275.1) 0.0 0.0
Repayment of 4.50% Senior Convertible Notes (460.0) 0.0 0.0
Settlements related to warrant unwind agreements (97.9) 0.0 0.0
Proceeds from amendment of senior secured credit facility 0.0 0.0 640.2
Repayment of term loan upon amendment of senior secured credit facility 0.0 0.0 (624.9)
Proceeds from issuance of 7.00% Senior Notes 0.0 500.0 0.0
Payment of debt issuance costs (1.2) (10.3) (7.5)
Payment of fees for debt amendments and extinguishments (0.2) (1.6) (2.6)
Other repayments of long-term debt (6.4) (12.6) (10.6)
Restricted stock withholdings for payroll taxes (18.1) (4.9) (2.9)
Payments on finance leases (15.4) (15.3) (14.4)
Other financing activities 0.1 (3.4) (0.5)
Net cash used for financing activities (913.1) (103.1) (125.4)
Effect of exchange rate changes on cash and cash equivalents 13.2 (7.8) (12.5)
Increase in cash and cash equivalents (713.0) 208.2 174.6
Cash and cash equivalents:      
Beginning of period 1,057.3 849.1 674.5
End of period 344.3 1,057.3 849.1
5.875% Secured Notes | CUSA      
Financing activities      
Redemption of Senior notes 0.0 (405.0) 0.0
5.875% Secured Notes | CNK [Member]      
Financing activities      
Redemption of Senior notes 0.0 (405.0) 0.0
8.75% Secured Notes | CUSA      
Financing activities      
Redemption of Senior notes 0.0 (150.0) (102.2)
8.75% Secured Notes | CNK [Member]      
Financing activities      
Redemption of Senior notes 0.0 (150.0) (102.2)
NCM | CUSA      
Adjustments to reconcile net income to cash provided by operating activities:      
Interest accrued on NCM screen advertising advances 21.3 22.0 22.6
Amortization of NCM screen advertising advances and other deferred revenues (32.6) (32.4) (32.4)
Investing activities      
Proceeds from redemption of common units of NCM 0.0 0.6 0.0
NCM | CNK [Member]      
Adjustments to reconcile net income to cash provided by operating activities:      
Interest accrued on NCM screen advertising advances 21.3 22.0 22.6
Amortization of NCM screen advertising advances and other deferred revenues (32.6) (32.4) (32.4)
Investing activities      
Proceeds from redemption of common units of NCM $ 0.0 $ 0.6 $ 0.0
[1] For the year ended December 31, 2025, diluted earnings per share excludes warrants, as they would be anti-dilutive when adjusting the basic net income attributable to common shareholders for the loss on warrants recorded during the period.

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