Quarterly report pursuant to Section 13 or 15(d)

Long Term Debt (Tables)

v3.22.2.2
Long Term Debt (Tables)
9 Months Ended
Sep. 30, 2022
Debt Disclosure [Abstract]  
Components of Long-Term Debt

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

 

September 30,

 

 

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

 

628.2

 

 

 

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

 

21.9

 

 

 

30.2

 

Total carrying value of long-term debt

$

2,530.1

 

 

$

2,543.3

 

Less: Current portion

 

22.0

 

 

 

24.3

 

Less: Debt issuance costs, net of accumulated amortization

 

34.6

 

 

 

42.7

 

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

$

2,473.5

 

 

$

2,476.3

 

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

 

September 30,

 

 

December 31,

 

 

2022

 

 

2021

 

Cinemark USA, Inc. term loan due 2025

$

628.2

 

 

$

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

 

21.9

 

 

 

30.2

 

Total carrying value of long-term debt

$

2,070.1

 

 

$

2,083.3

 

Less: Current portion

 

22.0

 

 

 

24.3

 

Less: Debt issuance costs, net of accumulated amortization

 

24.7

 

 

 

30.3

 

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

$

2,023.4

 

 

$

2,028.7

 

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 September 30, 2022:

Notional

 

 

 

 

 

 

 

 

 

 

Estimated

 

Amount

 

 

Effective Date

 

Pay Rate

 

Receive Rate

 

Expiration Date

 

Fair Value (1)

 

$

137.5

 

 

December 31, 2018

 

2.12%

 

1-Month LIBOR

 

December 31, 2024

 

$

6.1

 

$

175.0

 

 

December 31, 2018

 

2.12%

 

1-Month LIBOR

 

December 31, 2024

 

 

8.0

 

$

137.5

 

 

December 31, 2018

 

2.19%

 

1-Month LIBOR

 

December 31, 2024

 

 

6.1

 

 

 

 

 

 

 

 

 

 

Total

 

$

20.2

 

 

(1)
Approximately $9.9 of the total is included in prepaid expenses and other and $10.3 is included in deferred charges and other assets, net on the condensed consolidated balance sheet as of September 30, 2022.
Schedule of carrying values and fair values of debt instruments The table below presents the fair value of the Company's long-term debt as of the periods presented:

 

 

As of

 

 

 

September 30, 2022

 

 

December 31, 2021

 

Holdings fair value (1)

 

$

2,326.2

 

 

$

2,749.8

 

CUSA fair value

 

$

1,798.7

 

 

$

2,058.0

 

(1)
Includes the fair value of the 4.500% convertible senior notes of $527.5 and $691.9 as of September 30, 2022 and December 31, 2021, respectively.