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LONG-TERM DEBT (Tables)

12 Months Ended

Dec. 31, 2022

Debt Disclosure [Abstract]

Components of Long-Term Debt

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


		December 31,
		2021				2022
Cinemark Holdings, Inc. 4.50% convertible senior notes due 2025		$	460.0			$	460.0
Cinemark USA, Inc. term loan due 2025			633.1				626.5
Cinemark USA, Inc. 8.75% 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. 5.25% senior notes due 2028			765.0				765.0
Other			30.2				10.1
Total long-term debt carrying value (1)			2,543.3				2,516.6
Less: Current portion			24.3				10.7
Less: Debt issuance costs, net of accumulated amortization (1)			42.7				31.9
Long-term debt, less current portion, net of unamortized debt issuance costs (1)		$	2,476.3			$	2,474.0

(1) The only differences between the long-term debt for Holdings, as presented above, and the long-term debt for CUSA are the $460.0 million 4.50% Convertible Senior Notes due 2025 and the related debt issuance costs. The following table sets forth, as of the periods indicated, the total long-term debt carrying value, current portion of long-term debt and debt issuance costs, net of amortization for CUSA:


		December 31,
		2021				2022
Total long-term debt carrying value			2,083.3				2,056.6
Less: Current portion			24.3				10.7
Less: Debt issuance costs, net of accumulated amortization			30.3				22.9
Long-term debt, less current portion, net of unamortized debt issuance costs		$	2,028.7			$	2,023.0

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
		December 31, 2021				December 31, 2022
Holdings fair value (1)		$	2,749.8			$	2,210.5
CUSA fair value		$	2,058.0			$	1,771.3

(1)

The fair value of the 4.50% convertible senior notes was $691.9 and $439.2 as of December 31, 2021 and
2022, respectively.

Summary of Borrowings of International Subsidiaries

Below is a summary of loans outstanding as of December 31, 2022:


		Loan Balances as of				Interest Rates as of
Loan Description(s)		December 31, 2022				December 31, 2022		Covenants		Maturity
Peru loans		$	2.4			1.0% to 4.8%		Negative covenants		June and December 2023
Brazil loans		$	7.7			4.0% to 8.1%		Negative covenants		October 2023 and January 2029
Total		$	10.1

Maturities of Long-Term Debt, Excluding Unamortized Debt Issuance Costs

Holdings' long-term debt, excluding unamortized debt issuance costs, at December 31, 2022 matures as follows:


2023		$	10.7
2024			7.7
2025			1,324.5
2026			406.1
2027			1.1
Thereafter			766.5
Total (1)		$	2,516.6

(1)

The only difference between the long-term debt maturity payments for Holdings, as presented above, and those for CUSA is the $460.0 repayment of Holdings’ 4.50% Convertible Senior Notes in 2025.

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 designated as cash flow hedges as of December 31, 2022:


												Estimated
												Fair Value at
Notional												December 31,
Amount				Effective Date		Pay Rate		Receive Rate		Expiration Date		2022 (1)
$	0.1			December 31, 2018		2.12%		1-Month LIBOR		December 31, 2024		$	6.3
$	0.2			December 31, 2018		2.12%		1-Month LIBOR		December 31, 2024			8.0
$	0.1			December 31, 2018		2.19%		1-Month LIBOR		December 31, 2024			6.1
										Total		$	20.4

(1)

Approximately $12.2 of the total is included in prepaid expenses and other and $8.2 is included in deferred charges on the consolidated balance sheet as of December 31, 2022.