Year Ended

December 31,

2018

2019

2020

Numerator:

Net income (loss) attributable to Cinemark Holdings, Inc.

$

213,827

$

191,386

$

(616,828

)

(Earnings) loss allocated to participating share-based awards ⁽¹⁾

(1,168

)

(1,174

)

4,279

Net income (loss) attributable to common stockholders

$

212,659

$

190,212

$

(612,549

)

Denominator (shares in thousands):

Basic weighted average shares outstanding

116,054

116,306

116,667

Common equivalent shares for restricted stock units ⁽²⁾

288

300

—

Diluted weighted average shares outstanding

116,342

116,606

116,667

Basic earnings (loss) per share attributable to common stockholders

$

1.83

$

1.63

$

(5.25

)

Diluted earnings (loss) per share attributable to common stockholders

$

1.83

$

1.63

$

(5.25

)

(1)

For the years ended December 31, 2018, 2019 and 2020, a weighted average of approximately 640 shares, 721 shares and 815 shares, of unvested restricted stock, respectively, are considered participating securities.

(2)

For the year ended December 31, 2020, approximately 682 common equivalent shares for restricted stock units were excluded because they were anti-dilutive.