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EARNINGS (LOSS) PER SHARE (Tables)
 12 Months Ended
Dec. 31, 2023
Earnings Per Share [Abstract]  
Schedule of computations of basic and diluted loss per share

The following table presents computations of basic and diluted earnings (loss) per share for Holdings under the two class method:

 

 

 

 

 

 

 

Year Ended December 31,

 

 

 

2021

 

 

2022

 

 

2023

 

Numerator:

 

 

 

 

 

 

 

 

 

Net (loss) income attributable to Cinemark Holdings, Inc.

 

$

(422.8

)

 

$

(271.2

)

 

$

188.2

 

Loss (income) allocated to participating share-based awards (1)

 

 

6.1

 

 

 

3.8

 

 

 

(3.3

)

Basic net (loss) income attributable to common stockholders

 

$

(416.7

)

 

$

(267.4

)

 

$

184.9

 

Add: Interest expense on convertible notes, net of tax (3)

 

 

—

 

 

 

—

 

 

$

18.2

 

Diluted net (loss) income attributable to common stockholders

 

$

(416.7

)

 

$

(267.4

)

 

$

203.1

 

 

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

 

Basic weighted average shares outstanding

 

 

117.3

 

 

 

118.2

 

 

 

119.1

 

Common equivalent shares for restricted performance stock units (2)

 

 

—

 

 

 

—

 

 

 

0.9

 

Common equivalent shares for convertible notes (3)

 

 

—

 

 

 

—

 

 

 

32.0

 

Common equivalent shares for warrants (4)

 

 

—

 

 

 

—

 

 

 

—

 

Diluted weighted average shares outstanding

 

 

117.3

 

 

 

118.2

 

 

 

152.0

 

 

 

 

 

 

 

 

 

 

 

Basic (loss) earnings per share attributable to common stockholders

 

$

(3.55

)

 

$

(2.26

)

 

$

1.55

 

Diluted (loss) earnings per share attributable to common stockholders

 

$

(3.55

)

 

$

(2.26

)

 

$

1.34

 
(1)
For the years ended December 31, 2021, 2022 and 2023, a weighted average of approximately 1.7 shares, 1.7 shares and 2.1 shares of unvested restricted stock, respectively, are considered participating securities.
(2)
For the years ended December 31, 2021 and 2022, approximately 0.0 and 0.4 common equivalent shares for performance stock units were excluded because they were anti-dilutive.
(3)
For the years ended December 31, 2021 and 2022, diluted loss per share excludes the assumed conversion of the 4.50% Convertible Senior Notes into 32.0 shares of common stock, as they would have been anti-dilutive. See further discussion below.
(4)
For all periods presented, diluted earnings (loss) per share excludes the warrants, as they would be anti-dilutive.