Quarterly report pursuant to Section 13 or 15(d)

Equity

v3.21.2
Equity
6 Months Ended
Jun. 30, 2021
Equity [Abstract]  
Equity

8.   Equity

Below is a summary of changes in stockholders’ equity attributable to Cinemark Holdings, Inc., noncontrolling interests and total equity for the three and six months ended June 30, 2021 and 2020:

 

 

Common  Stock

 

Treasury Stock

 

Additional Paid-In-Capital

 

Retained Earnings (Deficit)

 

Accumulated Other Comprehensive Loss

 

Total Cinemark Holdings, Inc. Stockholders’ Equity

 

Noncontrolling Interests

 

Total Equity

 

Balance at January 1, 2021

 

$

124

 

$

(87,004

)

$

1,245,569

 

$

27,937

 

$

(398,653

)

$

787,973

 

$

10,996

 

$

798,969

 

Impact of adoption of ASU 2020-06, net of deferred taxes of $23,756 (See Note 7)

 

 

 

 

 

 

(73,604

)

 

5,440

 

 

 

 

(68,164

)

 

 

 

(68,164

)

Issuance of share based awards and share based awards compensation expense

 

 

 

 

 

 

4,668

 

 

 

 

 

 

4,668

 

 

 

 

4,668

 

Stock withholdings related to share based awards that vested during the three months ended March 31, 2021

 

 

 

 

(8

)

 

 

 

 

 

 

 

(8

)

 

 

 

(8

)

Adjustment to accrued dividends on unvested restricted stock unit awards

 

 

 

 

 

 

 

 

(2

)

 

 

 

(2

)

 

 

 

(2

)

Net loss

 

 

 

 

 

 

 

 

(208,241

)

 

 

 

(208,241

)

 

(602

)

 

(208,843

)

Unrealized gain due to fair value adjustments on interest rate swap agreements, net of taxes, net of settlements

 

 

 

 

 

 

 

 

 

 

5,704

 

 

5,704

 

 

 

 

5,704

 

Amortization of accumulated losses for amended swap agreements

 

 

 

 

 

 

 

 

 

 

1,124

 

 

1,124

 

 

 

 

1,124

 

Foreign currency translation adjustments

 

 

 

 

 

 

 

 

 

 

(9,465

)

 

(9,465

)

 

 

 

(9,465

)

Balance at March 31, 2021

 

 

124

 

 

(87,012

)

 

1,176,633

 

 

(174,866

)

 

(401,290

)

 

513,589

 

 

10,394

 

 

523,983

 

Issuance of share based awards and share based awards compensation expense

 

 

1

 

 

 

 

5,907

 

 

 

 

 

 

5,908

 

 

 

 

5,908

 

Stock withholdings related to share based awards that vested during the three months ended June 30, 2021

 

 

 

 

(4

)

 

 

 

 

 

 

 

(4

)

 

 

 

(4

)

Adjustment to accrued dividends on unvested restricted stock unit awards related to forfeitures

 

 

 

 

 

 

 

 

4

 

 

 

 

4

 

 

 

 

4

 

Net loss

 

 

 

 

 

 

 

 

(142,467

)

 

 

 

(142,467

)

 

186

 

 

(142,281

)

Unrealized gain due to fair value adjustments on interest rate swap agreements, net of taxes, net of settlements

 

 

 

 

 

 

 

 

 

 

746

 

 

746

 

 

 

 

746

 

Amortization of accumulated losses for amended swap agreements

 

 

 

 

 

 

 

 

 

 

1,123

 

 

1,123

 

 

 

 

1,123

 

Foreign currency translation adjustments

 

 

 

 

 

 

 

 

 

 

8,259

 

 

8,259

 

 

 

 

8,259

 

Balance at June 30, 2021

 

$

125

 

$

(87,016

)

$

1,182,540

 

$

(317,329

)

$

(391,162

)

$

387,158

 

$

10,580

 

$

397,738

 

 

 

 

 

 

Common  Stock

 

Treasury Stock

 

Additional Paid-In-Capital

 

Retained Earnings

 

Accumulated Other Comprehensive Loss

 

Total Cinemark Holdings, Inc. Stockholders’ Equity

 

Noncontrolling Interests

 

Total Equity

 

Balance at January 1, 2020

 

$

122

 

$

(81,567

)

$

1,170,039

 

$

687,332

 

$

(340,112

)

$

1,435,814

 

$

12,508

 

$

1,448,322

 

Issuance of share based awards and share based awards compensation expense

 

 

 

 

 

 

4,111

 

 

 

 

 

 

4,111

 

 

 

 

4,111

 

Stock withholdings related to share based awards that vested during the three months ended March 31, 2020

 

 

 

 

(2,691

)

 

 

 

 

 

 

 

(2,691

)

 

 

 

(2,691

)

Dividends paid to stockholders, $0.36 per common share (1)

 

 

 

 

 

 

 

 

(42,311

)

 

 

 

(42,311

)

 

 

 

(42,311

)

Dividends paid to noncontrolling interests

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(392

)

 

(392

)

Dividends accrued on unvested restricted stock unit awards (1)

 

 

 

 

 

 

 

 

(256

)

 

 

 

(256

)

 

 

 

(256

)

Net income (loss)

 

 

 

 

 

 

 

 

(59,591

)

 

 

 

(59,591

)

 

169

 

 

(59,422

)

Unrealized loss due to fair value adjustments on interest rate swap agreements, net of taxes, net of settlements

 

 

 

 

 

 

 

 

 

 

(24,171

)

 

(24,171

)

 

 

 

(24,171

)

Foreign currency translation adjustments

 

 

 

 

 

 

 

 

 

 

(57,625

)

 

(57,625

)

 

 

 

(57,625

)

Balance at March 31, 2020

 

$

122

 

$

(84,258

)

$

1,174,150

 

$

585,174

 

$

(421,908

)

$

1,253,280

 

$

12,285

 

$

1,265,565

 

Issuance of share based awards and share based awards compensation expense

 

 

 

 

 

 

4,321

 

 

 

 

 

 

4,321

 

 

 

 

4,321

 

Stock withholdings related to share based awards that vested during the three months ended June 30, 2020

 

 

 

 

(107

)

 

 

 

 

 

 

 

(107

)

 

 

 

(107

)

Net loss

 

 

 

 

 

 

 

 

(170,389

)

 

 

 

(170,389

)

 

(427

)

 

(170,816

)

Unrealized gain due to fair value adjustments on interest rate swap agreements, net of taxes, net of settlements

 

 

 

 

 

 

 

 

 

 

849

 

 

849

 

 

 

 

849

 

Amortization of accumulated losses for amended swap agreements

 

 

 

 

 

 

 

 

 

 

2,669

 

 

2,669

 

 

 

 

2,669

 

Foreign currency translation adjustments

 

 

 

 

 

 

 

 

 

 

(3,702

)

 

(3,702

)

 

 

 

(3,702

)

Balance at June 30, 2020

 

$

122

 

$

(84,365

)

$

1,178,471

 

$

414,785

 

$

(422,092

)

$

1,086,921

 

$

11,858

 

$

1,098,779

 

 (1)

On March 20, 2020 the Company paid a $0.36 dividend per common share to stockholders of record on March 6, 2020.  Additionally, the Company accrued dividends on outstanding unvested restricted stock units.