CONSOLIDATING FINANCIAL INFORMATION OF SUBSIDIARIES

12 Months Ended

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.