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CONDENSED FINANCIAL INFORMATION OF REGISTRANT | 12 Months Ended
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Dec. 31, 2023
Condensed Financial Information Disclosure [Abstract] |
CONDENSED FINANCIAL INFORMATION OF REGISTRANT | CINEMAR K HOLDINGS, INC. PARENT COMPANY BALANCE SHEETS (in millions, except share data)
|  | December 31, |  |  | December 31, |
|  | 2022 |  |  | 2023 |
Assets |  |  |  |  |  |
Cash and cash equivalents |  | $ | 247.2 |  |  | $ | 236.8 |
Interest receivable and other current assets |  |  | 0.6 |  |  |  | 2.6 |
Investment in subsidiaries |  |  | 372.5 |  |  |  | 591.2 |
Total assets |  | $ | 620.3 |  |  | $ | 830.6 |
Liabilities and equity |  |  |  |  |  |
Liabilities |  |  |  |  |  |
Accrued other current liabilities, including accounts payable to subsidiaries |  | $ | 61.5 |  |  | $ | 66.5 |
Long-term debt |  |  | 451.0 |  |  |  | 454.4 |
Other long-term liabilities |  |  | (2.4 | ) |  |  | (0.1 | )
Total liabilities |  |  | 510.1 |  |  |  | 520.8 |
Commitments and contingencies (see Note 6) |  |  |  |  |  |
Equity |  |  |  |  |  |
Common stock, $0.001 par value: 300,000,000 shares authorized, 126,082,187 shares issued and 120,403,833 shares outstanding at December 31, 2022 and 127,598,774 shares issued and 121,596,206 shares outstanding at December 31, 2023 |  |  | 0.1 |  |  |  | 0.1 |
Additional paid-in-capital |  |  | 1,219.3 |  |  |  | 1,244.3 |
Treasury stock, 5,678,354 and 6,002,568 shares, at cost, at December 31, 2022 and December 31, 2023, respectively |  |  | (95.4 | ) |  |  | (98.3 | )
Accumulated deficit |  |  | (660.6 | ) |  |  | (472.4 | )
Accumulated other comprehensive loss |  |  | (353.2 | ) |  |  | (363.9 | )
Total equity |  |  | 110.2 |  |  |  | 309.8 |
Total liabilities and equity |  | $ | 620.3 |  |  | $ | 830.6 |
The accompanying notes are an integral part of the condensed financial information of Cinemark Holdings Inc. CINEMARK HOLDINGS, INC. PARENT COMPANY STATEMENTS OF INCOME (LOSS) (in millions)
|  | Year Ended December 31, |
|  | 2021 |  |  | 2022 |  |  | 2023 |
Revenue |  | $ | — |  |  | $ | — |  |  | $ | — |
Cost of operations |  |  | 2.6 |  |  |  | 2.9 |  |  |  | 3.3 |
Operating loss |  |  | (2.6 | ) |  |  | (2.9 | ) |  |  | (3.3 | )
Interest expense |  |  | (24.1 | ) |  |  | (24.1 | ) |  |  | (24.1 | )
Interest income |  |  | 0.1 |  |  |  | 3.8 |  |  |  | 11.8 |
Loss before income taxes and equity in (loss) income of subsidiaries |  |  | (26.6 | ) |  |  | (23.2 | ) |  |  | (15.6 | )
Income tax benefit (expense) |  |  | 5.7 |  |  |  | (16.1 | ) |  |  | (1.5 | )
Equity in (loss) income of subsidiaries, net of taxes |  |  | (401.9 | ) |  |  | (231.9 | ) |  |  | 205.3 |
Net (loss) income |  | $ | (422.8 | ) |  | $ | (271.2 | ) |  | $ | 188.2 |
The accompanying notes are an integral part of the condensed financial information of Cinemark Holdings, Inc. CINEMARK HOLDINGS, INC. PARENT COMPANY STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (in millions)
|  | Year Ended December 31, |
|  | 2021 |  |  | 2022 |  |  | 2023 |
Net (loss) income |  | $ | (422.8 | ) |  | $ | (271.2 | ) |  | $ | 188.2 |
Other comprehensive (loss) income, net of tax |  |  |  |  |  |  |  |  |
Unrealized gain (loss) due to fair value adjustments on interest rate swap agreements, net of taxes of $(0.7), $(2.8) and $1.2, and net of settlements |  |  | 18.5 |  |  |  | 32.2 |  |  |  | (9.2 | )
Foreign currency translation adjustments |  |  | (18.8 | ) |  |  | 4.6 |  |  |  | 4.9 |
Total other comprehensive (loss) income, net of tax |  |  | (0.3 | ) |  |  | 36.8 |  |  |  | (4.3 | )
Comprehensive (loss) income attributable to Cinemark Holdings, Inc. |  | $ | (423.1 | ) |  | $ | (234.4 | ) |  | $ | 183.9 |
The accompanying notes are an integral part of the condensed financial information of Cinemark Holdings Inc. CINEMARK HOLDINGS, INC. PARENT COMPANY STATEMENTS OF CASH FLOWS (in millions)
|  | Year Ended December 31, |
|  | 2021 |  |  | 2022 |  |  | 2023 |
Operating Activities |  |  |  |  |  |  |  |  |
Net (loss) income |  | $ | (422.8 | ) |  | $ | (271.2 | ) |  | $ | 188.2 |
Adjustments to reconcile net (loss) income to cash used for operating activities: |  |  |  |  |  |  |  |  |
Share-based awards compensation expense |  |  | 0.9 |  |  |  | 1.0 |  |  |  | 1.2 |
Amortization of debt issuance costs |  |  | 3.5 |  |  |  | 3.4 |  |  |  | 3.5 |
Equity in loss (income) of subsidiaries |  |  | 401.9 |  |  |  | 231.9 |  |  |  | (205.3 | )
Changes in other assets and liabilities |  |  | 10.5 |  |  |  | 21.7 |  |  |  | 4.9 |
Net cash used for operating activities |  |  | (6.0 | ) |  |  | (13.2 | ) |  |  | (7.5 | )
Investing Activities |  |  |  |  |  |  |  |  |
Contributions to subsidiaries |  |  | (120.0 | ) |  |  | — |  |  |  | — |
Net cash used for investing activities |  |  | (120.0 | ) |  |  | — |  |  |  | — |
Financing Activities |  |  |  |  |  |  |  |  |
Restricted stock withholdings for payroll taxes |  |  | (4.1 | ) |  |  | (4.3 | ) |  |  | (2.9 | )
Net cash used for financing activities |  |  | (4.1 | ) |  |  | (4.3 | ) |  |  | (2.9 | )
Decrease in cash and cash equivalents |  |  | (130.1 | ) |  |  | (17.5 | ) |  |  | (10.4 | )
Cash and cash equivalents: |  |  |  |  |  |  |  |  |
Beginning of period |  |  | 394.8 |  |  |  | 264.7 |  |  |  | 247.2 |
End of period |  | $ | 264.7 |  |  | $ | 247.2 |  |  | $ | 236.8 |
The accompanying notes are an integral part of the condensed financial information of Cinemark Holdings, Inc. CINEMARK HOLDINGS, INC. NOTES TO PARENT COMPANY FINANCIAL STATEMENTS (in millions, except share and per share data) 1. BASIS OF PRESENTATION Cinemark Holdings, Inc. conducts substantially all of its operations through its subsidiaries. These statements should be read in conjunction with Cinemark Holdings Inc. and subsidiaries' consolidated financial statements and notes included elsewhere in this annual report on Form 10-K. There are significant restrictions over Cinemark Holdings, Inc.’s ability to obtain funds from its subsidiaries through dividends, loans or advances as contained in CUSA’s senior secured credit facility and the indentures to each of the 5.25% Senior Notes, the 5.875% Senior Notes and the 8.75% Secured Notes (collectively referred to herein as the “Notes”). These condensed parent company financial statements have been prepared in accordance with Rule 12-04, Schedule I of Regulation S-X, as the restricted net assets of Cinemark Holdings, Inc.’s subsidiaries under each of the debt agreements previously noted exceeds 25 percent of the consolidated net assets of Cinemark Holdings, Inc. As of December 31, 2023, the restricted net assets totaled approximately $427.8 million under the Notes. See Note 14 to the consolidated financial statements included elsewhere in this annual report on Form 10-K. 2. DIVIDEND PAYMENTS Holdings suspended its quarterly dividend in March 2020 as a result of the COVID-19 pandemic. as discussed in Note 3 of the consolidated financial statements included elsewhere in this annual report on Form 10-K. 3. DIVIDENDS AND DISTRIBUTIONS WITH SUBSIDIARIES During the year ended December 31, 2021, Holdings paid a distribution of $120.0 million to its subsidiary, CUSA. 4. LONG-TERM DEBT On August 21, 2020, Holdings issued $460.0 million aggregate principal amount of 4.50% Convertible Senior Notes, which will mature on August 15, 2025. Additionally, certain of Holdings’ subsidiaries have direct outstanding debt obligations. For a discussion of the debt obligations of Holdings, see Note 14 to the consolidated financial statements included elsewhere in this annual report on Form 10-K. 5. CAPITAL STOCK Holdings’ capital stock along with its long-term incentive plan and related activity are discussed in Note 18 of the consolidated financial statements included elsewhere in this annual report on Form 10-K. 6. COMMITMENTS AND CONTINGENCIES Holdings has no direct commitments and contingencies, but its subsidiaries do. See Note 21 of the consolidated financial statements included elsewhere in this annual report on Form 10-K.

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- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: 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 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 205 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 6 -Subparagraph (SX 210.5-04(Schedule I)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480922/205-10-S99-6 Reference 3: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Topic 810 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481231/810-10-45-11 + Details
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