The COVID-19 pandemic had a significant impact on the global economy and created a strain on the movie exhibition industry along with widespread social and economic effects. We temporarily closed our theatres in the U.S. and Latin America during March of 2020 at the onset of the COVID-19 outbreak. Additionally, we implemented various cash preservation strategies, including, but not limited to, temporary personnel and salary reductions, halting non-essential operating and capital expenditures, negotiating modified timing and/or abatement of contractual payments with landlords and other major suppliers, and the suspension of our quarterly dividend.

Throughout 2020 and 2021 we reopened theatres as soon as local restrictions and the status of the COVID-19 pandemic would allow. All of our domestic and international theatres were reopened by the end of the fourth quarter of 2021. While we reopened our theatres and were able to operate, we faced ongoing challenges with the significant reduction in new film releases as our distributors considered the impact of COVID-19 on future box office potential, with many studio partners simultaneously launching streaming platforms.

The industry’s recovery from the COVID-19 pandemic is still underway and is contingent upon the volume of new film content available, as well as the box office performance of new film content released. The industry continues to adapt to the evolution of the exclusive theatrical release window, competition from streaming platforms, supply chain constraints, inflationary impacts, and other economic factors.

During the years ended December 31, 2020, 2021 and 2022, the Company received an aggregate of approximately $6.9 in government assistance pursuant to (i) payroll continuation support programs under the CARES Act, (ii) various grants provided in certain states intended to cover janitorial and personal protection equipment costs incurred by the Company in response to local regulations and (iii) subsidies for certain payroll costs in certain international locations. The Company has met all applicable conditions related to the government assistance received. The government assistance received was reflected as credits to salaries and wages, utilities and other costs, and general and administrative expenses in the consolidated statements of loss.

During June 2020, Company management approved and announced a restructuring plan to realign its operations to create a more efficient cost structure (referred to herein as the “Restructuring Plan”) in response to the COVID-19 pandemic. The Restructuring Plan primarily included a headcount reduction at its domestic corporate office and the permanent closure of certain domestic and international theatres.

The following table summarizes activity recorded during the years ended December 31, 2020, 2021 and 2022:


	U.S. Operating Segment									International Operating Segment									Consolidated
	Employee-related Costs			Facility Closure Costs			Total Charges			Employee-related Costs			Facility Closure Costs			Total Charges			Employee-related Costs			Facility Closure Costs			Total Charges
Restructuring charges recorded during the year ended December 31, 2020	$	9.0		$	7.6		$	16.6		$	0.8		$	2.9		$	3.7		$	9.8		$	10.5		$	20.3
Amounts paid		(7.6	)		(1.6	)		(9.2	)		(0.8	)		(0.6	)		(1.4	)		(8.4	)		(2.2	)		(10.6	)
Noncash write-offs		(0.5	)		(0.3	)		(0.8	)		—			(2.2	)		(2.2	)		(0.5	)		(2.5	)		(3.0	)
Reserve balance at December 31, 2020	$	0.9		$	5.7		$	6.6		$	—		$	0.1		$	0.1		$	0.9		$	5.8		$	6.7
Amounts paid		(0.4	)		(3.9	)		(4.3	)		—			—			—			(0.4	)		(3.9	)		(4.3	)
Reserve adjustments (1)		(0.1	)		(0.9	)		(1.0	)		—			—			—			(0.1	)		(0.9	)		(1.0	)
Reserve balance at December 31, 2021	$	0.4		$	0.9		$	1.3		$	—		$	0.1		$	0.1		$	0.4		$	1.0		$	1.4
Amounts paid		(0.4	)		(0.5	)		(0.9	)		—			—			—			(0.4	)		(0.5	)		(0.9	)
Reserve adjustments (1)		—			(0.4	)		(0.4	)		—			(0.1	)		(0.1	)		—			(0.5	)		(0.5	)
Reserve balance at	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—

December 31, 2022