Segments (Tables)

3 Months Ended

Mar. 31, 2023

Segment Reporting [Abstract]

Selected Financial Information by Reportable Operating Segment

Below is a breakdown of selected financial information by reportable operating segment for Holdings:

	Three Months Ended
	March 31,
	2023			2022
Revenue
U.S.	$	481.7		$	373.7
International		131.6			88.5
Eliminations		(2.6	)		(1.7	)
Total revenue	$	610.7		$	460.5
Adjusted EBITDA
U.S.	$	63.4		$	14.4
International		22.8			10.8
Total Adjusted EBITDA	$	86.2		$	25.2
Capital expenditures
U.S.	$	22.7		$	14.0
International		3.6			4.7
Total Capital expenditures	$	26.3		$	18.7

Reconciliation of Net Income (Loss) to Adjusted EBITDA

The following table sets forth a reconciliation of net loss to Adjusted EBITDA for Holdings:

	Three Months Ended
	March 31,
	2023			2022
Net loss	$	(2.5	)	$	(72.5	)
Add (deduct):
Income tax benefit		(3.9	)		(1.8	)
Interest expense (1)		36.8			38.1
Other (income) expense, net (2)		(1.9	)		3.2
Cash distributions from equity investees (3)		—			0.6
Depreciation and amortization		54.9			61.7
Impairment of other assets		0.7			—
(Gain) loss on disposal of assets and other		0.3			(6.9	)
Non-cash rent expense		(3.9	)		(2.3	)
Share based awards compensation expense		5.7			5.1
Adjusted EBITDA	$	86.2		$	25.2

(1)Includes amortization of debt issuance costs and amortization of accumulated (gains) losses for amended swap agreements.

(2)Includes interest income, foreign currency exchange (gain) loss, interest expense - NCM and equity in loss of affiliates.

(3)Reflects cash distributions received from equity investees that were recorded as a reduction of the respective investment balances. These distributions are reported entirely within the U.S. operating segment.

Selected Financial Information by Geographic Area

Below is a breakdown of selected financial information for the Company by geographic area:

	Three Months Ended
	March 31,
Revenue	2023			2022
U.S.	$	481.7		$	373.7
Brazil		44.5			33.1
Other international countries		87.1			55.4
Eliminations		(2.6	)		(1.7	)
Total	$	610.7		$	460.5

	As of		As of
Theatre properties and equipment, net	March 31, 2023		December 31, 2022
U.S.	$	1,047.7	$	1,075.3
Brazil		50.6		49.5
Other international countries		105.8		107.3
Total	$	1,204.1	$	1,232.1