Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share (Tables)

v3.21.2
Earnings Per Share (Tables)
6 Months Ended
Jun. 30, 2021
Earnings Per Share [Abstract]  
Earnings Per Share

The following table presents computations of basic and diluted loss per share:

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 30,

 

 

June 30,

 

 

 

2021

 

 

2020

 

 

2021

 

 

2020

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net loss attributable to Cinemark Holdings, Inc.

 

$

(142,467

)

 

$

(170,389

)

 

$

(350,708

)

 

$

(229,980

)

Loss allocated to participating share-based awards (1)

 

 

2,713

 

 

 

1,329

 

 

 

5,869

 

 

 

1,514

 

Net loss attributable to common stockholders

 

$

(139,754

)

 

$

(169,060

)

 

$

(344,839

)

 

$

(228,466

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Denominator (shares in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic weighted average common stock outstanding

 

 

117,225

 

 

 

116,666

 

 

 

117,200

 

 

 

116,581

 

Common equivalent shares for restricted stock units (2)

 

 

 

 

 

 

 

 

 

 

 

 

Common equivalent shares for convertible notes and warrants (3)

 

 

 

 

 

 

 

 

 

 

 

 

Diluted common equivalent shares

 

 

117,225

 

 

 

116,666

 

 

 

117,200

 

 

 

116,581

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic loss per share attributable to common stockholders

 

$

(1.19

)

 

$

(1.45

)

 

$

(2.94

)

 

$

(1.96

)

Diluted loss per share attributable to common stockholders

 

$

(1.19

)

 

$

(1.45

)

 

$

(2.94

)

 

$

(1.96

)

 

 

(1)

For the three months ended June 30, 2021 and 2020, a weighted average of approximately 2,276 and 917 shares of restricted stock, respectively, were considered participating securities.  For the six months ended June 30, 2021 and 2020, a weighted average of approximately 1,995 and 771 shares of restricted stock, respectively, were considered participating securities.  

 

(2)

For the three months ended June 30, 2021 and 2020, approximately 156 and 475, respectively, common equivalent shares for restricted stock units were excluded because they were anti-dilutive.  For the six months ended June 30, 2021 and 2020, approximately 98 and 28, respectively, common equivalent shares for restricted stock units were excluded because they were anti-dilutive.

 

(3)

For the three and six months ended June 30, 2021, diluted loss per share excludes the conversion of the 4.50% Convertible Senior Notes, issued August 21, 2020, into 32,051 shares of common stock, as well as outstanding warrants, as they would be anti-dilutive.