XML 59 R46.htm IDEA: XBRL DOCUMENT

Long-Term Debt (Tables)

12 Months Ended

Dec. 31, 2021

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


	December 31,
	2020		2021
Cinemark Holdings, Inc. 4.500% convertible senior notes due 2025	$	460,000	$	460,000
Cinemark USA, Inc. term loan due 2025		639,731	$	633,136
Cinemark USA, Inc. 8.750% senior secured notes due 2025		250,000		250,000
Cinemark USA, Inc. 5.875% senior notes due 2026		—		405,000
Cinemark USA, Inc. 5.250% senior notes due 2028		—		765,000
Cinemark USA, Inc. 5.125% senior notes due 2022		400,000		—
Cinemark USA, Inc. 4.875% senior notes due 2023		755,000		—
Other		23,169		30,200
Total long-term debt carrying value		2,527,900		2,543,336
Less: Current portion		18,056		24,254
Less: Debt discounts and debt issuance costs, net of accumulated amortization (1)		132,682		42,832
Long-term debt, less current portion, net of discounts and unamortized debt issuance costs	$	2,377,162	$	2,476,250

(1)

The unamortized debt discount associated with the 4.500% convertible senior notes was $95,409 as of December 31, 2020. The unamortized debt issuance costs associated with the 4.500% convertible senior notes were $12,385 and $12,442 as of December 31, 2020 and 2021, respectively. See further discussion at Adoption of ASU 2020-06 below.

Summary of Borrowings of International Subsidiaries

Below is a summary of loans outstanding as of December 31, 2021:


	Loan Balances as of		Interest Rates as of
Loan Description(s)	December 31, 2021		December 31, 2021	Covenants	Maturity
Colombia loans	$	2,741	4.9% to 5.2%	Negative and maintenance covenants	June 2023 and September 2025
Peru loans	$	4,879	1.0% to 4.8%	Negative covenants	June and December 2023
Brazil loans	$	18,376	4.0% to 8.7%	Negative covenants	November 2022, October 2023 and January 2029
Chile loans	$	4,204	3.5%	Negative and maintenance covenants	November 2023
Total	$	30,200

During the year ended December 31, 2021, the Company obtained a waiver of the maintenance covenant related to the bank loans in Chile through June 30, 2022

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

The Company’s long-term debt, excluding unamortized debt issuance costs, at December 31, 2021 matures as follows:


2022	$	24,254
2023		12,285
2024		6,983
2025		1,323,538
2026		405,000
Thereafter		771,276
Total	$	2,543,336

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, 2021:


						Estimated
						Fair Value at
Notional						December 31,
Amount		Effective Date	Pay Rate	Receive Rate	Expiration Date	2021 (1)
$	137,500	December 31, 2018	2.12%	1-Month LIBOR	December 31, 2024	$	4,313
$	175,000	December 31, 2018	2.12%	1-Month LIBOR	December 31, 2024		5,537
$	137,500	December 31, 2018	2.19%	1-Month LIBOR	December 31, 2024		4,611
$	150,000	March 31, 2020	0.57%	1-Month LIBOR	March 31, 2022		164
					Total	$	14,625

(1)

Approximately $7,884 is included in accrued other current liabilities and $6,741 is included in other long-term liabilities on the consolidated balance sheet as of December 31, 2021.