THEATRE PROPERTIES AND EQUIPMENT

12 Months Ended

Dec. 31, 2024

Property, Plant and Equipment, Net [Abstract]

THEATRE PROPERTIES AND EQUIPMENT

7.THEATER PROPERTIES AND EQUIPMENT

Properties and equipment consisted of the following as of the periods presented:

	December 31,
	2023			2024
Theater properties and equipment
Land	$	97.8		$	97.0
Buildings		530.6			534.3
Property under finance lease		129.6			152.2
Theater furniture and equipment		1,432.8			1,514.5
Leasehold interests and improvements		1,300.2			1,223.8
Total		3,491.0			3,521.8
Less: accumulated depreciation and amortization (1)		(2,329.3	)		(2,376.7	)
Theater properties and equipment, net	$	1,161.7		$	1,145.1

(1)Amortization of finance lease assets is included in depreciation and amortization expense on the consolidated statements of income (loss). Accumulated amortization of finance lease assets as of December 31, 2023 and 2024 was $73.9 and $58.4, respectively.

Sale of Subsidiary

During December 2022, the Company entered into a purchase and sale agreement for the sale of the stock of its Ecuador subsidiary. The Company completed the sale in September 2023 and recognized a gain of $6.9, which is reflected in “(Gain) loss on disposal of assets and other” in the Company’s consolidated statement of income for the year ended December 31, 2023. The sale of the Ecuador subsidiary did not qualify as discontinued operations since it did not represent a strategic shift in the Company’s operations that will have a major effect on its results and operations. The table below summarizes total revenue and operating (loss) income for the Ecuador subsidiary for the periods presented:

	Year Ended December 31,
	2022			2023
Total revenue	$	13.3		$	13.5
Operating (loss) income	$	(1.2	)	$	2.0