Cinemark Holdings, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Segments (Tables)

Segments (Tables)

6 Months Ended

Jun. 30, 2022

Selected Financial Information by Reportable Operating Segment

Below is a breakdown of selected financial information by reportable operating segment:


	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2022			2021			2022			2021
Revenue
U.S.	$	603.5		$	269.4		$	977.2		$	366.7
International		143.3			25.4			231.8			42.7
Eliminations		(2.7	)		(0.2	)		(4.4	)		(0.4	)
Total revenue	$	744.1		$	294.6		$	1,204.6		$	409.0

Adjusted EBITDA
U.S.	$	111.1		$	0.5		$	125.5		$	(76.5	)
International		27.2			(12.3	)		38.0			(27.3	)
Total Adjusted EBITDA	$	138.3		$	(11.8	)	$	163.5		$	(103.8	)

Capital expenditures
U.S.	$	16.5		$	11.4		$	30.5		$	25.1
International		5.4			3.7			10.1			7.7
Total capital expenditures	$	21.9		$	15.1		$	40.6		$	32.8

Reconciliation of Net Income (Loss) to Adjusted EBITDA

The following table sets forth a reconciliation of net loss to Adjusted EBITDA:


	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2022			2021			2022			2021
Net loss	$	(72.8	)	$	(142.2	)	$	(145.3	)	$	(351.1	)
Add (deduct):
Income tax expense (benefit)		4.7			8.0			2.9			(6.7	)
Interest expense (1)		38.1			37.0			76.2			73.6
Other expense, net (2)		11.4			7.9			14.6			22.9
Cash distributions from other equity investees (3)		0.9			—			1.5			0.1
Depreciation and amortization		61.0			66.9			122.7			135.1
Impairment of long-lived and other assets		92.3			—			92.3			—
Restructuring costs		(0.2	)		(0.7	)		(0.2	)		(0.9	)
(Gain) loss on disposal of assets and other		(0.7	)		2.3			(7.6	)		6.8
Loss on extinguishment of debt		—			3.9			—			6.5
Non-cash rent expense		(2.4	)		(0.8	)		(4.7	)		(0.7	)
Share based awards compensation expense		6.0			5.9			11.1			10.6
Adjusted EBITDA	$	138.3		$	(11.8	)	$	163.5		$	(103.8	)

(1)

Includes amortization of debt issuance costs and amortization of accumulated losses for amended swap agreements.

(2)

Includes interest income, foreign currency exchange (gain) loss and equity in loss of affiliates.

(3)

Reflects cash distributions received from equity investees that were recorded as a reduction of the respective investment balances (see Note 9). These distributions are reported entirely within the U.S. operating segment.

Selected Financial Information by Geographic Area

Below is a breakdown of selected financial information by geographic area:


	Three Months Ended						Six Months Ended
	June 30,						June 30,
Revenue	2022			2021			2022			2021
U.S.	$	603.5		$	269.4		$	977.2		$	366.7
Brazil		54.8			5.5			87.9			9.9
Other international countries		88.5			19.9			143.9			32.8
Eliminations		(2.7	)		(0.2	)		(4.4	)		(0.4	)
Total	$	744.1		$	294.6		$	1,204.6		$	409.0


	As of		As of
Theatre Properties and Equipment, net	June 30, 2022		December 31, 2021
U.S.	$	1,131.1	$	1,208.7
Brazil		53.8		56.8
Other international countries		111.1		117.4
Total	$	1,296.0	$	1,382.9