Quarterly report pursuant to Section 13 or 15(d)

Long Term Debt (Tables)

v3.22.1
Long Term Debt (Tables)
3 Months Ended
Mar. 31, 2022
Debt Disclosure [Abstract]  
Components of Long-Term Debt

Long-term debt consisted of the following for the periods presented:

 

March 31,

 

 

December 31,

 

 

2022

 

 

2021

 

Cinemark Holdings, Inc. 4.500% convertible senior notes due 2025

$

460.0

 

 

$

460.0

 

Cinemark USA, Inc. term loan due 2025

 

631.5

 

 

 

633.1

 

Cinemark USA, Inc. 8.750% senior secured notes due 2025

 

250.0

 

 

 

250.0

 

Cinemark USA, Inc. 5.875% senior notes due 2026

 

405.0

 

 

 

405.0

 

Cinemark USA, Inc. 5.250% senior notes due 2028

 

765.0

 

 

 

765.0

 

Other

 

32.4

 

 

 

30.2

 

Total carrying value of long-term debt

$

2,543.9

 

 

$

2,543.3

 

Less: Current portion

 

27.2

 

 

 

24.3

 

Less: Debt issuance costs, net of accumulated amortization

 

40.1

 

 

 

42.7

 

Long-term debt, less current portion, net of unamortized debt issuance costs

$

2,476.6

 

 

$

2,476.3

 

Summary of Company's Interest Rate Swap Agreements Designated as Cash Flow Hedges

Below is a summary of the Company’s interest rate swap agreements, which are designated as cash flow hedges, as of March 31, 2022:

 

 

 

 

 

 

 

 

 

 

 

Estimated

 

 

 

 

 

 

 

 

 

 

 

 

Fair Value at

 

Notional

 

 

 

 

 

 

 

 

 

 

March 31,

 

Amount

 

 

Effective Date

 

Pay Rate

 

Receive Rate

 

Expiration Date

 

2022 (1)

 

$

137.5

 

 

December 31, 2018

 

2.12%

 

1-Month LIBOR

 

December 31, 2024

 

$

1.3

 

$

175.0

 

 

December 31, 2018

 

2.12%

 

1-Month LIBOR

 

December 31, 2024

 

 

1.6

 

$

137.5

 

 

December 31, 2018

 

2.19%

 

1-Month LIBOR

 

December 31, 2024

 

 

1.0

 

 

 

 

 

 

 

 

 

 

Total

 

$

3.9

 

(1)
Approximately $(1.7) of the total is included in accounts payable and accrued expenses and $5.6 is included in deferred charges and other assets, net on the condensed consolidated balance sheet as of March 31, 2022.
Schedule of carrying values and fair values of debt instruments The table below presents the carrying value and fair value of the Company's long-term debt as of the periods presented:

 

 

As of

 

 

 

March 31, 2022

 

 

December 31, 2021

 

Carrying value (1)

 

$

2,543.9

 

 

$

2,543.3

 

Fair value (2)

 

$

2,678.3

 

 

$

2,749.8

 

(1)
The carrying value excludes unamortized debt issuance costs.
(2)
Includes the fair value of the 4.500% convertible senior notes of $684.5 and $691.9 as of March 31, 2022 and December 31, 2021, respectively.