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CONSOLIDATING FINANCIAL INFORMATION OF SUBSIDIARIES | 12 Months Ended
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Dec. 31, 2023
Condensed Financial Information Disclosure [Abstract] |
CONSOLIDATING FINANCIAL INFORMATION OF SUBSIDIARIES | UNAUDITED SUPPLEMENTAL SCHEDULES SPECIFIED BY THE SENIOR NOTES INDENTURES CINEMARK USA, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEET DECEMBER 31, 2023 (in millions)
|  | Restricted |  |  | Unrestricted |  |  |  |  |  |  |
|  | Group |  |  | Group |  |  | Eliminations |  |  | Consolidated |
Assets |  |  |  |  |  |  |  |  |  |  |  |
Current assets |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 496.3 |  |  | $ | 116.1 |  |  | $ | — |  |  | $ | 612.4 |
Other current assets |  |  | 393.4 |  |  |  | (115.8 | ) |  |  | (10.9 | ) |  |  | 266.7 |
Total current assets |  |  | 889.7 |  |  |  | 0.3 |  |  |  | (10.9 | ) |  |  | 879.1 |
Theatre properties and equipment, net |  |  | 1,161.7 |  |  |  | — |  |  |  | — |  |  |  | 1,161.7 |
Operating lease right-of-use assets, net |  |  | 986.4 |  |  |  | — |  |  |  | — |  |  |  | 986.4 |
Other assets |  |  | 1,718.1 |  |  |  | 285.8 |  |  |  | (375.2 | ) |  |  | 1,628.7 |
Total assets |  | $ | 4,755.9 |  |  | $ | 286.1 |  |  | $ | (386.1 | ) |  | $ | 4,655.9 |
Liabilities and equity |  |  |  |  |  |  |  |  |  |  |  |
Current liabilities |  |  |  |  |  |  |  |  |  |  |  |
Current portion of long-term debt |  | $ | 7.8 |  |  | $ | — |  |  | $ | — |  |  | $ | 7.8 |
Current portion of operating lease obligations |  |  | 212.5 |  |  |  | — |  |  |  | — |  |  |  | 212.5 |
Current portion of finance lease obligations |  |  | 14.0 |  |  |  | — |  |  |  | — |  |  |  | 14.0 |
Current income tax payable |  |  | 4.2 |  |  |  | — |  |  |  | — |  |  |  | 4.2 |
Accounts payable and accrued expenses |  |  | 494.8 |  |  |  | — |  |  |  | (10.9 | ) |  |  | 483.9 |
Total current liabilities |  |  | 733.3 |  |  |  | — |  |  |  | (10.9 | ) |  |  | 722.4 |
Long-term liabilities |  |  |  |  |  |  |  |  |  |  |  |
Long-term debt, less current portion |  |  | 2,199.0 |  |  |  | — |  |  |  | (262.2 | ) |  |  | 1,936.8 |
Operating lease obligations, less current portion |  |  | 853.3 |  |  |  | — |  |  |  | — |  |  |  | 853.3 |
Finance lease obligations, less current portion |  |  | 73.8 |  |  |  | — |  |  |  | — |  |  |  | 73.8 |
Other long-term liabilities and deferrals |  |  | 468.7 |  |  |  | 0.6 |  |  |  | — |  |  |  | 469.3 |
Total long-term liabilities |  |  | 3,594.8 |  |  |  | 0.6 |  |  |  | (262.2 | ) |  |  | 3,333.2 |
Commitments and contingencies |  |  |  |  |  |  |  |  |  |  |  |
Equity |  |  | 427.8 |  |  |  | 285.5 |  |  |  | (113.0 | ) |  |  | 600.3 |
Total liabilities and equity |  | $ | 4,755.9 |  |  | $ | 286.1 |  |  | $ | (386.1 | ) |  | $ | 4,655.9 |
Note: “Restricted Group” and “Unrestricted Group” are defined in the indentures for the senior notes. CINEMARK USA, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENT OF INCOME YEAR ENDED DECEMBER 31, 2023 (in millions)
|  | Restricted |  |  | Unrestricted |  |  |  |  |  |  |
|  | Group |  |  | Group |  |  | Eliminations |  |  | Consolidated |
Revenue |  | $ | 3,066.7 |  |  | $ | — |  |  | $ | — |  |  | $ | 3,066.7 |
Cost of operations |  |  |  |  |  |  |  |  |  |  |  |
Theatre operating costs |  |  | 2,286.6 |  |  |  | — |  |  |  | — |  |  |  | 2,286.6 |
General and administrative expenses |  |  | 195.5 |  |  |  |  |  |  | — |  |  |  | 195.5 |
Depreciation and amortization |  |  | 209.5 |  |  |  | — |  |  |  | — |  |  |  | 209.5 |
Impairment of long-lived assets |  |  | 15.9 |  |  |  | 0.7 |  |  |  | — |  |  |  | 16.6 |
Gain on disposal of assets and other |  |  | (7.7 | ) |  |  |  |  |  | — |  |  |  | (7.7 | )
Total cost of operations |  |  | 2,699.8 |  |  |  | 0.7 |  |  |  | — |  |  |  | 2,700.5 |
Operating income (loss) |  |  | 366.9 |  |  |  | (0.7 | ) |  |  | — |  |  |  | 366.2 |
Interest expense |  |  | (129.1 | ) |  |  | — |  |  |  | 2.8 |  |  |  | (126.3 | )
Loss on debt extinguishment and refinancing |  |  | (10.7 | ) |  |  | — |  |  |  | — |  |  |  | (10.7 | )
Equity in income of affiliates |  |  | 1.6 |  |  |  | 2.0 |  |  |  | — |  |  |  | 3.6 |
Interest expense - NCM |  |  | (22.6 | ) |  |  | — |  |  |  | — |  |  |  | (22.6 | )
Other income |  |  | 9.3 |  |  |  | 20.3 |  |  |  | (2.8 | ) |  |  | 26.8 |
Total other (expense) income |  |  | (151.5 | ) |  |  | 22.3 |  |  |  | — |  |  |  | (129.2 | )
Income before income taxes |  |  | 215.4 |  |  |  | 21.6 |  |  |  | — |  |  |  | 237.0 |
Income tax expense |  |  | 24.0 |  |  |  | 4.4 |  |  |  | — |  |  |  | 28.4 |
Net income |  |  | 191.4 |  |  |  | 17.2 |  |  |  | — |  |  |  | 208.6 |
Less: Net income attributable to noncontrolling interests |  |  | 3.3 |  |  |  | — |  |  |  | — |  |  |  | 3.3 |
Net income attributable to Cinemark USA, Inc. |  | $ | 188.1 |  |  | $ | 17.2 |  |  | $ | — |  |  | $ | 205.3 |
Note: “Restricted Group” and “Unrestricted Group” are defined in the indentures for the senior notes. CINEMARK USA, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (in millions)
|  | Restricted |  |  | Unrestricted |  |  |  |  |  |  |
|  | Group |  |  | Group |  |  | Eliminations |  |  | Consolidated |
Net income |  | $ | 191.4 |  |  | $ | 17.2 |  |  | $ | — |  |  | $ | 208.6 |
Other comprehensive loss, net of tax |  |  |  |  |  |  |  |  |  |  |  |
Unrealized loss due to fair value adjustments on interest rate swap agreements, net of taxes of $1.5, net of settlements |  |  | (8.9 | ) |  |  | — |  |  |  | — |  |  |  | (8.9 | )
Foreign currency translation adjustments |  |  | 4.9 |  |  |  | — |  |  |  | — |  |  |  | 4.9 |
Total other comprehensive loss, net of tax |  |  | (4.0 | ) |  |  | — |  |  |  | — |  |  |  | (4.0 | )
Total comprehensive loss, net of tax |  |  | 187.4 |  |  |  | 17.2 |  |  |  | — |  |  |  | 204.6 |
Comprehensive income attributable to noncontrolling interests |  |  | (3.3 | ) |  |  | — |  |  |  | — |  |  |  | (3.3 | )
Comprehensive income attributable to Cinemark USA, Inc. |  | $ | 184.1 |  |  | $ | 17.2 |  |  | $ | — |  |  | $ | 201.3 |
Note: “Restricted Group” and “Unrestricted Group” are defined in the indentures for the senior notes. CINEMARK USA, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS YEAR ENDED DECEMBER 31, 2023 (in millions)
|  | Restricted |  |  | Unrestricted |  |  |  |  |  |  |
|  | Group |  |  | Group |  |  | Eliminations |  |  | Consolidated |
Operating activities |  |  |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 191.4 |  |  | $ | 17.2 |  |  | $ | — |  |  | $ | 208.6 |
Adjustments to reconcile net income to cash provided by operating activities |  |  | 219.3 |  |  |  | 4.4 |  |  |  | — |  |  |  | 223.7 |
Changes in assets and liabilities |  |  | 36.5 |  |  |  | (14.0 | ) |  |  | — |  |  |  | 22.5 |
Net cash provided by operating activities |  |  | 447.2 |  |  |  | 7.6 |  |  |  | — |  |  |  | 454.8 |
Investing activities |  |  |  |  |  |  |  |  |  |  |  |
Additions to theatre properties and equipment |  |  | (149.5 | ) |  |  | — |  |  |  | — |  |  |  | (149.5 | )
Net proceeds from sale of subsidiary |  |  | 14.8 |  |  |  | — |  |  |  | — |  |  |  | 14.8 |
Proceeds from sale of assets and other |  |  | 2.9 |  |  |  | — |  |  |  | — |  |  |  | 2.9 |
Investment and loans to affiliates |  |  | (2.3 | ) |  |  | 2.3 |  |  |  | — |  |  |  | — |
Net cash (used for) provided by investing activities |  |  | (134.1 | ) |  |  | 2.3 |  |  |  | — |  |  |  | (131.8 | )
Financing activities |  |  |  |  |  |  |  |  |  |  |  |
Proceeds from refinancing of senior secured credit facility |  |  | 640.2 |  |  |  | — |  |  |  | — |  |  |  | 640.2 |
Repayment of term loan on refinancing of senior secured credit facility |  |  | (624.9 | ) |  |  | — |  |  |  | — |  |  |  | (624.9 | )
Redemption of $100.0 of 8.75% Secured Notes at 102.2% |  |  | (102.2 | ) |  |  | — |  |  |  | — |  |  |  | (102.2 | )
Payment of debt issuance costs |  |  | (7.5 | ) |  |  | — |  |  |  | — |  |  |  | (7.5 | )
Payment of fees on refinancing of senior secured credit facility |  |  | (2.6 | ) |  |  | — |  |  |  | — |  |  |  | (2.6 | )
Other repayments of long-term debt |  |  | (10.6 | ) |  |  | — |  |  |  | — |  |  |  | (10.6 | )
Restricted stock withholdings for payroll taxes |  |  | (2.9 | ) |  |  | — |  |  |  | — |  |  |  | (2.9 | )
Payments on finance leases |  |  | (14.4 | ) |  |  | — |  |  |  | — |  |  |  | (14.4 | )
Other financing activities |  |  | (0.5 | ) |  |  | — |  |  |  | — |  |  |  | (0.5 | )
Net cash used for financing activities |  |  | (125.4 | ) |  |  | — |  |  |  | — |  |  |  | (125.4 | )
Effect of exchange rate changes on cash and cash equivalents |  |  | (12.5 | ) |  |  | — |  |  |  | — |  |  |  | (12.5 | )
Increase in cash and cash equivalents |  |  | 175.2 |  |  |  | 9.9 |  |  |  | — |  |  |  | 185.1 |
Cash and cash equivalents: |  |  |  |  |  |  |  |  |  |  |  |
Beginning of year |  |  | 321.1 |  |  |  | 106.2 |  |  |  | — |  |  |  | 427.3 |
End of year |  | $ | 496.3 |  |  | $ | 116.1 |  |  | $ | — |  |  | $ | 612.4 |
Note: “Restricted Group” and “Unrestricted Group” are defined in the indentures for the senior notes.

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- Definition The entire disclosure for condensed financial statements. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name Regulation S-X (SX) -Number 210 -Section 12 -Subsection 04 -Paragraph a -Publisher SEC Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-3 + Details
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