10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended September 30, 2019

or

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Commission File Number: 001-33401

CINEMARK HOLDINGS, INC.

(Exact name of registrant as specified in its charter)

Delaware	20-5490327
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)
3900 Dallas Parkway
Plano, Texas	75093
(Address of principal executive offices)	(Zip Code)

Registrant's telephone number, including area code:  (972) 665-1000

Securities registered pursuant to Section 12(b) of the Act:

Title of Each Class	Trading Symbol(s)	Name of each exchange on which registered
Common stock, par value $.001 per share	CNK	New York Stock Exchange

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes ☒  No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit files).    Yes ☒  No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer	☒	Accelerated filer	☐
Non-accelerated filer	☐	Smaller reporting company	☐
Emerging growth company	☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).    Yes ☐  No ☒

As of October 31, 2019, 117,148,809 shares of common stock were issued and outstanding.  

CINEMARK HOLDINGS, INC. AND SUBSIDIARIES

TABLE OF CONTENTS

			Page
PART I.     FINANCIAL INFORMATION
	Item 1.	Financial Statements	4
		Condensed Consolidated Balance Sheets as of September 30, 2019 and December 31, 2018 (unaudited)	4
		Condensed Consolidated Statements of Income for the three and nine months ended September 30, 2019 and 2018 (unaudited)	5
		Condensed Consolidated Statements of Comprehensive Income for the three and nine months ended September 30, 2019 and 2018 (unaudited)	6
		Condensed Consolidated Statements of Cash Flows for the nine months ended September 30, 2019 and 2018 (unaudited)	7
		Notes to Condensed Consolidated Financial Statements (unaudited)	8
	Item 2.	Management's Discussion and Analysis of Financial Condition and Results of Operations	31
	Item 3.	Quantitative and Qualitative Disclosures About Market Risk	41
	Item 4.	Controls and Procedures	41
PART II.     OTHER INFORMATION
	Item 1.	Legal Proceedings	42
	Item 1A.	Risk Factors	42
	Item 6.	Exhibits	43
SIGNATURES			44

2

Cautionary Statement Regarding Forward-Looking Statements

Certain matters within this Quarterly Report on Form 10Q include “forward–looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The “forward-looking statements” may include our current expectations, assumptions, estimates and projections about our business and our industry. They may include statements relating to future revenues, expenses and profitability, the future development and expected growth of our business, projected capital expenditures, attendance at movies generally or in any of the markets in which we operate, the number or diversity of popular movies released and our ability to successfully license and exhibit popular films, national and international growth in our industry, competition from other exhibitors and alternative forms of entertainment and determinations in lawsuits in which we are defendants.  Forward-looking statements can be identified by the use of words such as “may,” “should,” “could,” “estimates,” “predicts,” “potential,” “continue,” “anticipates,” “believes,” “plans,” “expects,” “future” and “intends” and similar expressions. Forward-looking statements may involve known and unknown risks, uncertainties and other factors that may cause the actual results or performance to differ from those projected in the forward-looking statements. These statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond our control and difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements.  For a description of the risk factors, please review the “Risk Factors” section or other sections in the Company’s Annual Report on Form 10-K filed February 28, 2019 and quarterly reports on Form 10-Q, filed with the Securities and Exchange Commission. All forward-looking statements are expressly qualified in their entirety by such risk factors. We undertake no obligation, other than as required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

3

PART I - FINANCIAL INFORMATION

Item 1. Financial Statements

CINEMARK HOLDINGS, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands, except share data, unaudited)

	September 30,			December 31,
	2019			2018
Assets
Current assets
Cash and cash equivalents	$	482,772		$	426,222
Inventories		19,346			19,319
Accounts receivable		66,947			95,084
Current income tax receivable		4,844			3,288
Prepaid expenses and other		20,859			15,117
Total current assets		594,768			559,030
Theatre properties and equipment		3,262,990			3,404,150
Less: accumulated depreciation and amortization		1,580,589			1,571,017
Theatre properties and equipment – net		1,682,401			1,833,133
Operating lease right-of-use assets		1,384,019			—
Other assets
Goodwill		1,281,354			1,276,324
Intangible assets – net		322,671			330,910
Investment in NCM		272,756			275,592
Investments in and advances to affiliates		166,033			156,766
Long-term deferred tax asset		8,499			9,028
Deferred charges and other assets – net		39,102			41,055
Total other assets		2,090,415			2,089,675
Total assets	$	5,751,603		$	4,481,838
Liabilities and equity
Current liabilities
Current portion of long-term debt	$	7,984		$	7,984
Current portion of operating lease obligations		215,015			—
Current portion of finance and capital lease obligations		15,501			27,065
Current income tax payable		12,656			12,179
Current liability for uncertain tax positions		—			573
Accounts payable and accrued expenses		388,623			426,888
Total current liabilities		639,779			474,689
Long-term liabilities
Long-term debt, less current portion		1,771,663			1,772,627
Operating lease obligations, less current portion		1,230,152			—
Finance and capital lease obligations, less current portion		126,344			232,467
Long-term deferred tax liability		152,494			155,626
Long-term liability for uncertain tax positions		13,884			13,380
Deferred lease expenses		—			39,235
NCM screen advertising advances		276,985			287,349
Other long-term liabilities		43,851			50,348
Total long-term liabilities		3,615,373			2,551,032
Commitments and contingencies (see Note 18)
Equity
Cinemark Holdings, Inc.'s stockholders' equity:
Common stock, $0.001 par value: 300,000,000 shares authorized, 121,853,045 shares issued and 117,150,047 shares outstanding at September 30, 2019 and 121,456,721 shares issued and 116,830,530 shares outstanding at December 31, 2018		122			121
Additional paid-in-capital		1,165,910			1,155,424
Treasury stock, 4,702,998 and 4,626,191 shares, at cost, at September 30, 2019 and December 31, 2018, respectively		(81,506	)		(79,259	)
Retained earnings		748,558			686,459
Accumulated other comprehensive loss		(349,381	)		(319,007	)
Total Cinemark Holdings, Inc.'s stockholders' equity		1,483,703			1,443,738
Noncontrolling interests		12,748			12,379
Total equity		1,496,451			1,456,117
Total liabilities and equity	$	5,751,603		$	4,481,838

The accompanying notes are an integral part of the condensed consolidated financial statements.

4

CINEMARK HOLDINGS, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(in thousands, except per share data, unaudited)

	Three Months Ended September 30,						Nine Months Ended September 30,
	2019			2018			2019			2018
Revenues
Admissions	$	454,429		$	427,616		$	1,371,041		$	1,389,110
Concession		289,477			264,165			886,083			831,243
Other		77,911			62,454			237,172			202,906
Total revenues		821,817			754,235			2,494,296			2,423,259
Cost of operations
Film rentals and advertising		254,911			230,121			759,693			758,242
Concession supplies		51,573			42,720			157,361			134,577
Salaries and wages		103,270			92,495			308,316			285,997
Facility lease expense		87,436			80,592			262,529			243,873
Utilities and other		123,877			112,832			357,210			337,866
General and administrative expenses		44,702			38,299			127,002			123,714
Depreciation and amortization		67,760			64,971			196,795			193,656
Impairment of long-lived assets		27,304			1,641			45,382			5,020
Loss on disposal of assets and other		2,453			7,826			8,057			28,666
Total cost of operations		763,286			671,497			2,222,345			2,111,611
Operating income		58,531			82,738			271,951			311,648
Other income (expense)
Interest expense		(24,967	)		(27,144	)		(75,037	)		(82,725	)
Loss on debt amendments and refinancing		—			—			—			(1,484	)
Interest income		3,903			2,761			10,062			7,861
Foreign currency exchange loss		(4,406	)		(3,126	)		(4,785	)		(6,947	)
Distributions from NCM		2,474			2,386			9,168			12,168
Interest expense - NCM		(4,666	)		(4,983	)		(14,180	)		(14,875	)
Equity in income of affiliates		15,139			14,158			33,982			29,208
Total other expense		(12,523	)		(15,948	)		(40,790	)		(56,794	)
Income before income taxes		46,008			66,790			231,161			254,854
Income taxes		14,053			16,169			64,152			59,592
Net income	$	31,955		$	50,621		$	167,009		$	195,262
Less:  Net income attributable to noncontrolling interests		602			393			1,957			878
Net income attributable to Cinemark Holdings, Inc.	$	31,353		$	50,228		$	165,052		$	194,384
Weighted average shares outstanding
Basic		116,356			116,119			116,288			116,032
Diluted		116,600			116,322			116,577			116,288
Earnings per share attributable to Cinemark Holdings, Inc.'s common stockholders
Basic	$	0.27		$	0.43		$	1.41		$	1.66
Diluted	$	0.27		$	0.43		$	1.41		$	1.66

The accompanying notes are an integral part of the condensed consolidated financial statements.

5

CINEMARK HOLDINGS, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(In thousands, unaudited)

	Three Months Ended September 30,						Nine Months Ended September 30,
	2019			2018			2019			2018
Net income	$	31,955		$	50,621		$	167,009		$	195,262
Other comprehensive loss, net of tax
Unrealized loss due to fair value adjustments on interest rate swap agreements, net of taxes of $417, $0, $3,391 and $0, net of settlements		(1,291	)		—			(10,504	)		—
Other comprehensive loss in equity method investments		(49	)		(63	)		(142	)		(43	)
Foreign currency translation adjustments		(25,408	)		(10,797	)		(19,728	)		(66,841	)
Total other comprehensive loss, net of tax		(26,748	)		(10,860	)		(30,374	)		(66,884	)
Total comprehensive income, net of tax		5,207			39,761			136,635			128,378
Comprehensive income attributable to noncontrolling interests		(602	)		(393	)		(1,957	)		(878	)
Comprehensive income attributable to Cinemark Holdings, Inc.	$	4,605		$	39,368		$	134,678		$	127,500

The accompanying notes are an integral part of the condensed consolidated financial statements.

6

CINEMARK HOLDINGS, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands, unaudited)

	Nine Months Ended September 30,
	2019			2018
Operating activities
Net income	$	167,009		$	195,262
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation		193,032			191,236
Amortization of intangible and other assets and favorable/unfavorable leases		3,763			2,420
Amortization of long-term prepaid rents		—			1,814
Amortization of debt issue costs		3,983			4,236
Loss on debt amendments and refinancing		—			1,484
Amortization of deferred revenues, deferred lease incentives and other		(12,203	)		(16,264	)
Impairment of long-lived assets		45,382			5,020
Share based awards compensation expense		10,486			10,364
Loss on disposal of assets and other		8,057			28,666
Non-cash rent expense		(3,252	)		—
Deferred lease expenses		—			(952	)
Equity in income of affiliates		(33,982	)		(29,208	)
Deferred income tax expenses		(5,314	)		9,096
Distributions from equity investees		28,163			21,041
Changes in assets and liabilities and other		(7,909	)		(74,161	)
Net cash provided by operating activities		397,215			350,054
Investing activities
Additions to theatre properties and equipment		(186,512	)		(245,962	)
Acquisition of theatres in the U.S. and international markets, net of cash acquired		(10,170	)		(11,289	)
Proceeds from sale of theatre properties and equipment and other		377			3,557
Acquisition of NCM common units		—			(78,393	)
Investment in joint ventures and other, net		—			(20,442	)
Net cash used for investing activities		(196,305	)		(352,529	)
Financing activities
Dividends paid to stockholders		(119,452	)		(112,108	)
Payroll taxes paid as a result of stock withholdings		(2,247	)		(2,905	)
Repayments of long-term debt		(4,947	)		(4,946	)
Payment of debt issue costs		—			(5,103	)
Fees paid related to debt amendments		—			(704	)
Payments on finance and capital leases		(10,830	)		(18,778	)
Other		(1,588	)		—
Net cash used for financing activities		(139,064	)		(144,544	)
Effect of exchange rate changes on cash and cash equivalents		(5,296	)		(8,732	)
Increase (decrease) in cash and cash equivalents		56,550			(155,751	)
Cash and cash equivalents:
Beginning of period		426,222			522,547
End of period	$	482,772		$	366,796
Supplemental information (see Note 15)

The accompanying notes are an integral part of the condensed consolidated financial statements.

7

CINEMARK HOLDINGS, INC. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

In thousands, except share and per share data

1. The Company and Basis of Presentation

Cinemark Holdings, Inc. and subsidiaries (the “Company”) operates in the motion picture exhibition industry, with theatres in the United States (“U.S.”), Brazil, Argentina, Chile, Colombia, Peru, Ecuador, Honduras, El Salvador, Nicaragua, Costa Rica, Panama, Guatemala, Bolivia, Curacao and Paraguay.

The accompanying condensed consolidated balance sheet as of December 31, 2018, which was derived from audited financial statements, and the unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete consolidated financial statements. In the opinion of management, all adjustments, consisting of normal recurring adjustments, considered necessary for a fair presentation have been included. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and the accompanying notes. Actual results could differ from these estimates. Majority-owned subsidiaries that the Company has control of are consolidated while those affiliates of which the Company owns between 20% and 50% and does not control are accounted for under the equity method. Those affiliates of which the Company owns less than 20% are generally accounted for under the cost method, unless the Company is deemed to have the ability to exercise significant influence over the affiliate, in which case the Company would account for its investment under the equity method. The results of these subsidiaries and affiliates are included in the condensed consolidated financial statements effective with their formation or from their dates of acquisition. Intercompany balances and transactions are eliminated in consolidation.  

These condensed consolidated financial statements should be read in conjunction with the audited annual consolidated financial statements and the notes thereto for the year ended December 31, 2018, included in the Annual Report on Form 10-K filed February 28, 2019 by the Company under the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Operating results for the three and nine months ended September 30, 2019 are not necessarily indicative of the results to be achieved for the full year.

2. New Accounting Pronouncements

In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-02, Leases (Topic 842), (“ASC Topic 842”). The purpose of ASC Topic 842 is to provide financial statement users a better understanding of the amount, timing, and uncertainty of cash flows arising from leases. The adoption of ASU 2016-02 resulted in the recognition of a right-of-use asset and a lease liability for most operating leases.  Additionally, new disclosure requirements include qualitative and quantitative information about the amounts recorded in the financial statements. The Company adopted ASC Topic 842 effective January 1, 2019.  See Note 3 for further discussion.  

3. Adoption of ASC Topic 842 – Lease Accounting

The Company adopted ASC Topic 842 as of January 1, 2019 under the modified retrospective approach that resulted in the recognition of a cumulative-effect adjustment to the opening balance of retained earnings with an option to elect certain practical expedients.  The Company elected the following practical expedients, as allowed by ASC Topic 842:

• The Company chose not to separate nonlease components from lease components, accounting for lease components and nonlease components associated with a lease as a single lease component.  More specifically, for theatre leases, the Company elected not to separate fixed common area maintenance costs from lease costs when calculating lease liabilities and assets.

• The Company also elected the following practical expedients:

o The Company did not reassess whether existing contracts in effect as of the transition date of January 1, 2019 were, or contained, a lease.

o The Company did not reassess the classification of existing leases as operating or finance as of the transition date.  

o The Company did not reassess whether any initial direct costs were incurred for any of its existing leases.  

o The Company did not elect to apply the recognition requirements of ASC 842 to short-term leases.

8

CINEMARK HOLDINGS, INC. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

In thousands, except share and per share data

The adoption of ASC Topic 842 included the following primary impacts:

1. The Company recorded a right-of-use asset and lease liability for all of its operating leases as required by the standard.   The lease liability for each lease was determined based on the present value of future minimum lease payments.  The right-of-use asset was based on the lease liability value, adjusted for offsets that existed as of adoption, including deferred rent liabilities of ($39,235), net favorable and unfavorable lease intangibles of ($5,780), deferred lease incentive liabilities of ($12,960) and long-term prepaid rents of $7,707.  The Company recorded operating lease right-of-use assets of $1,491,245 and operating lease liabilities of $1,545,210 upon adoption.

2. Certain of the Company’s existing lease assets and liabilities, which were accounted for under prior sale-leaseback accounting guidance, were derecognized in accordance with ASC Topic 842 and reevaluated for classification per the new accounting guidance.  Several of these leases have been reestablished as operating leases based on ASC Topic 842.

a. For those leases that are now classified as operating leases in accordance with ASC Topic 842, approximately $110,442 and $126,376 of lease assets and liabilities, respectively, were recorded as an adjustment to beginning retained earnings.  The related net deferred income tax asset for these accounts was also recorded as an adjustment to beginning retained earnings.  See additional impact discussed in item 3 below.

b. The Company recognized finance lease assets and liabilities in the amount of $57,440 as of January 1, 2019 for the remaining leases that were determined to be finance leases under ASC Topic 842.    

3. For the leases noted in item 2a above, the Company will now record the related operating lease payments as facility lease expense, compared to prior periods in which the capitalized asset was depreciated and lease payments were recorded as a reduction of a lease liability and interest expense.  

Real Estate Leases - The Company conducts a significant part of its theatre operations in leased properties under noncancelable operating and finance leases with terms generally ranging from 10 to 25 years. In addition to fixed lease payments, some of the leases provide for variable lease payments and some require the payment of taxes, insurance and other costs applicable to the property. Variable lease payments include payments based on a percentage of retail sales over contractual levels or payments adjusted periodically for inflation or changes in attendance. The Company can renew, at its option, a substantial portion of the leases at defined or then market rental rates for various periods.  Some leases also provide for escalating rent payments throughout the lease term.  The Company also leases certain office and warehouse facilities in the U.S. and in international locations.  The lease terms for these facilities generally only include fixed payments.  The Company recognizes fixed lease expense for the operating leases on a straight-line basis over the lease term.  The Company’s real estate lease agreements do not contain any residual value guarantees or restrictive covenants.

Equipment Leases - The Company has certain equipment operating leases primarily including projectors, trash compactors and various other equipment used in the day-to-day operation of the business.  Certain of the leases require fixed lease payments to be made over the duration of the lease term, while others are variable in nature based on usage or sales.  Certain of these leases are month-to-month, while others are noncancelable with terms generally ranging from 5 to 12 years.  The Company’s equipment lease agreements do not contain any residual value guarantees or restrictive covenants.

9

CINEMARK HOLDINGS, INC. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

In thousands, except share and per share data

The following table represents the operating and finance right-of-use assets and lease liabilities as of September 30, 2019.

		As of
Leases	Classification	September 30, 2019
Assets (1)
Operating lease assets	Operating lease assets	$	1,384,019
Finance lease assets	Theatre properties and equipment, net of accumulated depreciation and amortization (2)		103,059
Total lease assets		$	1,487,078
Liabilities (1)
Current
Operating	Current portion of operating lease obligations	$	215,015
Finance	Current portion of finance lease obligations		15,501
Noncurrent
Operating	Operating lease obligations, less current portion		1,230,152
Finance	Finance lease obligations, less current portion		126,344
Total lease liabilities		$	1,587,012

(1) The operating lease right-of-use assets and liabilities recorded on the Company’s condensed consolidated balance sheet generally do not include renewal options that have not yet been exercised.  The Company does not consider a lease renewal as reasonably certain until immediately before the necessary notification is provided to the landlord.

(2) Finance lease assets are net of accumulated amortization of $57,506 as of September 30, 2019.

As of September 30, 2019, the Company had signed lease agreements with total noncancelable lease payments of approximately $258,453 related to theatre leases that had not yet commenced.  The timing of lease commencement is dependent on the completion of construction of the related theatre facility.  Additionally, these amounts are based on estimated square footage and costs to construct each facility and may be subject to adjustment upon final completion of each construction project.  In accordance with ASC Topic 842, fixed minimum lease payments related to these theatres are not included in the right-of-use assets and lease liabilities as of September 30, 2019.  There were no significant noncancelable lease agreements signed, but not yet commenced, related to equipment leases.  

The following table represents the Company’s aggregate lease costs, by lease classification, for the three and nine months ended September 30, 2019.

		Three Months Ended		Nine Months Ended
Lease Cost	Classification	September 30, 2019		September 30, 2019
Operating lease costs
Equipment (1)	Utilities and other	$	1,569	$	5,173
Real Estate (2)(3)	Facility lease expense		88,149		262,783
Total operating lease costs		$	89,718	$	267,956
Finance lease costs
Amortization of leased assets	Depreciation and amortization	$	3,703	$	11,182
Interest on lease liabilities	Interest expense		1,922		5,927
Total finance lease costs		$	5,625	$	17,109

(1) Includes approximately $452 and $1,808 of short-term lease payments for the three and nine months ended September 30, 2019, respectively.  

(2) Includes approximately $18,591 and $54,209 of variable lease payments based on a change in index, such as CPI or inflation, variable payments based on revenues or attendance and variable common area maintenance costs for the three and nine months ended September 30, 2019

(3) Approximately $400 and $1,184 of lease payments are included in general and administrative expenses primarily related to office leases for the three and nine months ended September 30, 2019, respectively.  

10

CINEMARK HOLDINGS, INC. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

In thousands, except share and per share data

The following table represents the maturity of lease liabilities, by lease classification, as of September 30, 2019.

	Operating		Finance
Years Ending	Leases		Leases		Total
2019	$	70,137	$	5,588	$	75,725
2020		276,114		22,373		298,487
2021		258,827		18,661		277,488
2022		229,272		17,925		247,197
2023		198,799		17,236		216,035
After 2023		704,440		101,110		805,550
Total lease payments	$	1,737,589	$	182,893	$	1,920,482
Less: Interest		292,422		41,048		333,470
Present value of lease liabilities	$	1,445,167	$	141,845	$	1,587,012

The following table represents future minimum lease payments under noncancelable operating and capital leases at December 31, 2018 as presented in the Company’s Annual Report on Form 10-K filed February 28, 2019:

	Operating		Capital
Years Ending	Leases		Leases
2019	$	253,323	$	42,434
2020		242,336		41,502
2021		230,396		34,589
2022		204,628		32,462
2023		176,802		28,534
Thereafter		677,091		166,375
Total	$	1,784,576		345,896
Amounts representing interest payments				(86,364	)
Present value of future minimum payments				259,532
Current portion of finance and capital lease obligations				(27,065	)
Capital lease obligations, less current portion			$	232,467

The following table represents the weighted-average remaining lease term and discount rate, disaggregated by lease classification, as of September 30, 2019.

	As of
Lease Term and Discount Rate	September 30, 2019
Weighted-average remaining lease term (years) (1)
Operating leases - equipment		4.1
Operating leases - real estate		7.9
Finance leases - equipment		5.9
Finance leases - real estate		10.6
Weighted-average discount rate (2)
Operating leases - equipment		4.3	%
Operating leases - real estate		4.8	%
Finance leases - equipment		5.5	%
Finance leases - real estate		5.2	%

(1) The lease assets and liabilities recorded on the Company’s condensed consolidated balance sheet generally do not include renewal options that have not yet been executed.  The Company does not consider a lease renewal exercise as reasonably certain until immediately before the necessary notification is provided to the landlord.

(2) The discount rate for each lease represents the incremental borrowing rate at which the Company would borrow, on a collateralized basis, over a similar term and at an amount equal to the lease payments in a similar economic environment.

11

CINEMARK HOLDINGS, INC. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

In thousands, except share and per share data

The following table represents the minimum cash lease payments included in the measurement of lease liabilities and the non-cash addition of right-of-use assets for the nine months ended September 30, 2019.

	Nine Months Ended
Other Information	September 30, 2019
Cash paid for amounts included in the measurement of lease liabilities
Cash outflows for operating leases	$	211,940
Cash outflows for finance leases - operating activities	$	5,756
Cash outflows for finance leases - financing activities	$	10,830
Non-cash amount of leased assets obtained in exchange for:
Operating lease liabilities - real estate	$	53,526
Operating lease liabilities - equipment	$	668
Finance lease liabilities	$	—

Lessor Arrangements

As noted above, the Company did not reassess whether existing contracts in effect as of the transition date of January 1, 2019 were, or contained, a lease.  However, effective September 17, 2019, the Company amended its Exhibitor Services Agreement (“ESA”) with National CineMedia, LLC (“NCM”) and, as a result of this amendment, the Company reassessed the ESA under ASC Topic 842.  The Company’s assessment resulted in the determination that the nonconsecutive periods of use of the theatre screens by NCM under the ESA qualify as a lease in accordance with ASC Topic 842.  See further discussion in Note 8.

The Company rents its theatre auditoriums for corporate meetings, screenings, education and training sessions and other private events.  These rentals, which are not significant to the Company, are generally one-time events and the related revenue is reflected as other revenue on condensed consolidated statement of income.  

4. Revenue Recognition

The Company’s patrons have the option to purchase movie tickets well in advance of a movie showtime or right before the movie showtime, or at any point in between those two timeframes depending on seat availability.  The Company recognizes such admissions revenues when the showtime for a purchased movie ticket has passed.  Concession revenues are recognized when sales are made at the registers.  Other revenues primarily consist of screen advertising, promotional income, studio trailer placements and transactional fees. The Company sells gift cards and discount ticket vouchers, the proceeds from which are recorded as current liabilities.  Revenues for gift cards and discount ticket vouchers are recognized when they are redeemed for movie tickets or concession items.  The Company offers a subscription program in the U.S. whereby patrons can pay a monthly fee to receive a monthly credit for use towards a future movie ticket purchase.  The Company records the monthly subscription program fees as current liabilities and records admissions revenues when the showtime for a movie ticket purchased with a credit has passed.  The Company also has loyalty programs in many of its locations that either have a prepaid annual membership fee or award points to customers as purchases are made.  For those loyalty programs that have an annual membership fee, the Company recognizes the fee collected as other revenues on a straight-line basis over the term of the membership.  For those loyalty programs that award points to customers based on their purchases, the Company records a portion of the original transaction proceeds as liabilities based on the number of reward points issued to customers and recognizes the deferred revenues when the customer redeems such points.  Advances collected on concession and other contracts are deferred and recognized during the period in which the Company satisfies the related performance obligations, which may differ from the period in which the advances are collected. These advances are recognized on either a straight-line basis over the term of the contracts or as the Company has met its performance obligations in accordance with the terms of the contracts.  

Screen advertising revenues for the U.S. operating segment primarily relate to the ESA with NCM and the Company’s beverage concessionaire agreement. As discussed in Note 3 and Note 8, prior to September 17, 2019, such screen advertising was accounted for under ASC Topic 606, Revenue from Contracts with Customers, and effective upon the amendment of the ESA, NCM screen advertising was accounted for under ASC Topic 842. See table at Note 8 for screen advertising revenues recorded in other revenue under ASC Topic 606 prior to the amendment of the ESA and under ASC Topic 842 subsequent to the amendment of the ESA.  

Accounts receivable as of September 30, 2019 included approximately $29,719 of receivables related to contracts with customers.  The Company did not record any assets related to the costs to obtain or fulfill a contract with customers during the nine months ended September 30, 2019.

12

CINEMARK HOLDINGS, INC. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

In thousands, except share and per share data

Disaggregation of Revenue

The following table presents revenues for the three and nine months ended September 30, 2019 and 2018, disaggregated based on major type of good or service and by reportable operating segment.

	Three Months Ended						Nine Months Ended
	September 30, 2019						September 30, 2019
	U.S.		International				U.S.		International
	Operating		Operating				Operating		Operating
Major Goods/Services	Segment (1)		Segment		Consolidated		Segment (1)		Segment		Consolidated
Admissions revenues	$	351,122	$	103,307	$	454,429	$	1,066,884	$	304,157	$	1,371,041
Concession revenues		230,415		59,062		289,477		704,727		181,356		886,083
Screen advertising, screen rental and promotional revenues		21,114		16,448		37,562		63,996		49,587		113,583
Other revenues		30,394		9,955		40,349		95,180		28,409		123,589
Total revenues	$	633,045	$	188,772	$	821,817	$	1,930,787	$	563,509	$	2,494,296

	Three Months Ended						Nine Months Ended
	September 30, 2018						September 30, 2018
	U.S.		International				U.S.		International
	Operating		Operating				Operating		Operating
Major Goods/Services	Segment (1)		Segment		Consolidated		Segment (1)		Segment		Consolidated
Admissions revenues	$	333,274	$	94,342	$	427,616	$	1,091,489	$	297,621	$	1,389,110
Concession revenues		207,960		56,205		264,165		661,328		169,915		831,243
Screen advertising and promotional revenues		19,010		13,420		32,430		58,240		43,135		101,375
Other revenues		22,031		7,993		30,024		76,635		24,896		101,531
Total revenues	$	582,275	$	171,960	$	754,235	$	1,887,692	$	535,567	$	2,423,259

(1) U.S. segment revenues include eliminations of intercompany transactions with the international operating segment.  See Note 16 for additional information on intercompany eliminations.

The following table presents revenues for the three and nine months ended September 30, 2019 and 2018, disaggregated based on timing of revenue recognition.

	Three Months Ended						Nine Months Ended
	September 30, 2019						September 30, 2019
	U.S.		International				U.S.		International
	Operating		Operating				Operating		Operating
	Segment (1)		Segment		Consolidated		Segment (1)		Segment		Consolidated
Goods and services transferred at a point in time	$	610,063	$	169,171	$	779,234	$	1,860,828	$	504,702	$	2,365,530
Goods and services transferred over time		22,982		19,601		42,583		69,959		58,807		128,766
Total	$	633,045	$	188,772	$	821,817	$	1,930,787	$	563,509	$	2,494,296

	Three Months Ended						Nine Months Ended
	September 30, 2018						September 30, 2018
	U.S.		International				U.S.		International
	Operating		Operating				Operating		Operating
	Segment (1)		Segment		Consolidated		Segment (1)		Segment		Consolidated
Goods and services transferred at a point in time	$	561,849	$	155,291	$	717,140	$	1,824,138	$	482,790	$	2,306,928
Goods and services transferred over time		20,426		16,669		37,095		63,554		52,777		116,331
Total	$	582,275	$	171,960	$	754,235	$	1,887,692	$	535,567	$	2,423,259

(1) U.S. segment revenues include eliminations of intercompany transactions with the international operating segment.  See Note 16 for additional information on intercompany eliminations.

13

CINEMARK HOLDINGS, INC. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

In thousands, except share and per share data

Deferred Revenues

The following table presents changes in the Company’s advances and deferred revenues for the nine months ended September 30, 2019.  

	NCM screen advertising advances (1)			Other Deferred Revenues (2)			Total
Balance at January 1, 2019	$	287,349		$	106,075		$	393,424
Amounts recognized as accounts receivable		—			10,186			10,186
Cash received from customers in advance		—			138,927			138,927
Common units received from NCM (see Note 8)		1,552			—			1,552
Revenue recognized during period		(11,916	)		(141,684	)		(153,600	)
Foreign currency translation adjustments		—			(1,321	)		(1,321	)
Balance at September 30, 2019	$	276,985		$	112,183		$	389,168

(1) See Note 8 for the maturity of balance as of September 30, 2019.

(2) Includes liabilities associated with outstanding gift cards and SuperSavers, points or rebates outstanding under the Company’s loyalty and membership programs and revenues not yet recognized for screen advertising, screen rental and other promotional activities. Classified as accounts payable and accrued expenses or other long-term liabilities on the condensed consolidated balance sheet.

The table below summarizes the aggregate amount of the transaction price allocated to performance obligations that are unsatisfied as of September 30, 2019 and when the Company expects to recognize this revenue.

	Twelve Months Ended September 30,
Remaining Performance Obligations	2020		2021		2022		2023		2024		Thereafter		Total
Deferred revenue		102,449		9,488		200		46		—		—		112,183

5. Earnings Per Share

The Company considers its unvested restricted stock awards, which contain non-forfeitable rights to dividends, participating securities, and includes such participating securities in its computation of earnings per share pursuant to the two-class method. Basic earnings per share for the two classes of stock (common stock and unvested restricted stock) is calculated by dividing net income by the weighted average number of shares of common stock and unvested restricted stock outstanding during the reporting period. Diluted earnings per share is calculated using the weighted average number of shares of common stock plus the potentially dilutive effect of common equivalent shares outstanding determined under both the two class method and the treasury stock method.

The following table presents computations of basic and diluted earnings per share under the two-class method:

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2019			2018			2019			2018
Numerator:
Net income attributable to Cinemark Holdings, Inc.	$	31,353		$	50,228		$	165,052		$	194,384
Earnings allocated to participating share-based awards (1)		(211	)		(304	)		(1,012	)		(1,123	)
Net income attributable to common stockholders	$	31,142		$	49,924		$	164,040		$	193,261
Denominator (shares in thousands):
Basic weighted average common stock outstanding		116,356			116,119			116,288			116,032
Common equivalent shares for restricted stock units		244			203			289			256
Diluted common equivalent shares		116,600			116,322			116,577			116,288
Basic earnings per share attributable to common stockholders	$	0.27		$	0.43		$	1.41		$	1.66
Diluted earnings per share attributable to common stockholders	$	0.27		$	0.43		$	1.41		$	1.66

(1) For the three months ended September 30, 2019 and 2018, a weighted average of approximately 793 and 708 shares of restricted stock, respectively, were considered participating securities.  For the nine months ended September 30, 2019 and 2018, a weighted average of approximately 719 and 677 shares of restricted stock, respectively, were considered participating securities.  

14

CINEMARK HOLDINGS, INC. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

In thousands, except share and per share data

6. Long Term Debt Activity

Senior Secured Credit Facility

On March 29, 2018, Cinemark USA, Inc., our wholly-owned subsidiary, amended its senior secured credit facility to extend the maturity of the term loan to March 29, 2025, reduce the rate at which the term loan bears interest by 0.25% and to reduce the amount of real property required to be mortgaged to secure the loans. Under the amended facility, quarterly principal payments of $1,649 are due on the term loan through December 31, 2024, with a final principal payment of $613,351 due on March 29, 2025. The Company incurred debt issue costs of approximately $4,962 in connection with the amendment.  As a result of the amendment, the Company wrote-off $780 of unamortized debt issue costs and incurred approximately $704 in legal and other fees, both of which are reflected as loss on debt amendments and refinancing on the condensed consolidated statements of income for the nine months ended September 30, 2018.  

Fair Value of Long-Term Debt

The Company estimates the fair value of its long-term debt using the market approach, which utilizes quoted market prices that fall under Level 2 of the U.S. GAAP fair value hierarchy as defined by ASC 820, Fair Value Measurement (“ASC Topic 820”). The carrying value of the Company’s long-term debt was $1,804,364 and $1,809,311 as of September 30, 2019 and December 31, 2018, respectively, excluding unamortized debt discounts and debt issue costs. The fair value of the Company’s long-term debt was $1,825,063 and $1,774,066 as of September 30, 2019 and December 31, 2018, respectively.

Interest Rate Swap Agreements

The Company is currently a party to three interest rate swap agreements that are used to hedge a portion of the interest rate risk associated with the variable interest rates on the Company’s term loan debt and that qualify for cash flow hedge accounting. The fair values of the interest rate swaps are recorded on the Company’s condensed consolidated balance sheet as an asset or liability with the related gains or losses reported as a component of accumulated other comprehensive loss. The changes in fair value are reclassified from accumulated other comprehensive loss into earnings in the same period that the hedged items affect earnings. The valuation technique used to determine fair value is the income approach.  Under this approach, the Company uses projected future interest rates as provided by counterparty to the interest rate swap agreement and the fixed rates that the Company is obligated to pay under the agreement. Therefore, the Company’s measurements use significant unobservable inputs, which fall in Level 3 of the U.S. GAAP hierarchy as defined by FASB ASC Topic 820-10-35. See Note 13 for a summary of unrealized gains or losses recorded in accumulated other comprehensive loss.

Below is a summary of the Company’s interest rate swap agreements designated as cash flow hedges as of September 30, 2019:

						Estimated
						Fair Value at
Notional						September 30,
Amount		Effective Date	Pay Rate	Receive Rate	Expiration Date	2019 (1)
$	137,500	December 31, 2018	2.75%	1-Month LIBOR	December 31, 2022	$	5,778
$	175,000	December 31, 2018	2.75%	1-Month LIBOR	December 31, 2022		7,346
$	137,500	December 31, 2018	2.77%	1-Month LIBOR	December 31, 2022		5,864
					Total	$	18,988

(1)   Approximately $3,746 of the total is included in accounts payable and accrued expenses and $15,242 is included in other long-term liabilities on the condensed consolidated balance sheet as of September 30, 2019.

15

CINEMARK HOLDINGS, INC. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

In thousands, except share and per share data

7. Equity

Below is a summary of changes in stockholders’ equity attributable to Cinemark Holdings, Inc., noncontrolling interests and total equity for the three and nine months ended September 30, 2019 and 2018:

	Common  Stock		Treasury Stock			Additional Paid-In-Capital		Retained Earnings			Accumulated Other Comprehensive Income (Loss)			Total Cinemark Holdings, Inc. Stockholders’ Equity			Noncontrolling Interests			Total Equity
Balance at January 1, 2019	$	121	$	(79,259	)	$	1,155,424	$	686,459		$	(319,007	)	$	1,443,738		$	12,379		$	1,456,117
Cumulative effect of change in accounting principle, net of taxes of $6,054 (see Note 3)		—		—			—		16,985			—			16,985			—			16,985
Issuance of share based awards and share based awards compensation expense		—		—			2,970		—			—			2,970			—			2,970
Stock withholdings related to share based awards that vested during the three months ended March 31, 2019		—		(1,947	)		—		—			—			(1,947	)		—			(1,947	)
Dividends paid to stockholders, $0.34 per common share (1)		—		—			—		(39,797	)		—			(39,797	)		—			(39,797	)
Dividends paid to noncontrolling interests		—		—			—		—			—			—			(1,000	)		(1,000	)
Dividends accrued on unvested restricted stock unit awards (1)		—		—			—		(108	)		—			(108	)		—			(108	)
Net income		—		—			—		32,728			—			32,728			465			33,193
Other comprehensive loss in equity method investees		—		—			—		—			(71	)		(71	)		—			(71	)
Unrealized loss due to fair value adjustments on interest rate swap agreements, net of taxes, net of settlements		—		—			—		—			(3,311	)		(3,311	)		—			(3,311	)
Foreign currency translation adjustments		—		—			—		—			755			755			—			755
Balance at March 31, 2019		121		(81,206	)		1,158,394		696,267			(321,634	)		1,451,942			11,844			1,463,786
Issuance of share based awards and share based awards compensation expense		1		—			3,676		—			—			3,677			—			3,677
Stock withholdings related to share based awards that vested during the three months ended June 30, 2019		—		(300	)		—		—			—			(300	)		—			(300	)
Dividends paid to stockholders, $0.34 per common share (1)		—		—			—		(39,823	)		—			(39,823	)		—			(39,823	)
Dividends paid to noncontrolling interests		—		—			—		—			—			—			(294	)		(294	)
Dividends accrued on unvested restricted stock unit awards (1)		—		—			—		(189	)		—			(189	)		—			(189	)
Net income		—		—			—		100,971			—			100,971			890			101,861
Other comprehensive loss in equity method investees		—		—			—		—			(22	)		(22	)		—			(22	)
Unrealized loss due to fair value adjustments on interest rate swap agreements, net of taxes, net of settlements		—		—			—		—			(5,902	)		(5,902	)		—			(5,902	)
Foreign currency translation adjustments		—		—			—		—			4,925			4,925			—			4,925
Balance at June 30, 2019		122		(81,506	)		1,162,070		757,226			(322,633	)		1,515,279			12,440			1,527,719
Issuance of share based awards and share based awards compensation expense		—		—			3,840		—						3,840						3,840
Dividends paid to stockholders, $0.34 per common share (1)		—		—			—		(39,832	)		—			(39,832	)		—			(39,832	)
Dividends paid to noncontrolling interests		—		—			—		—			—			—			(294	)		(294	)
Dividends accrued on unvested restricted stock unit awards (1)		—		—			—		(189	)		—			(189	)		—			(189	)
Net income		—		—			—		31,353			—			31,353			602			31,955
Other comprehensive loss in equity method investees		—		—			—		—			(49	)		(49	)		—			(49	)
Unrealized loss due to fair value adjustments on interest rate swap agreements, net of taxes, net of settlements		—		—			—		—			(1,291	)		(1,291	)		—			(1,291	)
Foreign currency translation adjustments		—		—			—		—			(25,408	)		(25,408	)		—			(25,408	)
Balance at September 30, 2019	$	122	$	(81,506	)	$	1,165,910	$	748,558		$	(349,381	)	$	1,483,703		$	12,748		$	1,496,451

16

CINEMARK HOLDINGS, INC. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

In thousands, except share and per share data

	Common  Stock		Treasury Stock			Additional Paid-In-Capital		Retained Earnings			Accumulated Other Comprehensive Income (Loss)			Total Cinemark Holdings, Inc. Stockholders’ Equity			Noncontrolling Interests		Total Equity
Balance at January 1, 2018	$	121	$	(76,354	)	$	1,141,088	$	582,222		$	(253,282	)	$	1,393,795		$	11,893	$	1,405,688
Cumulative effect of change in accounting principle, net of taxes of $13,079		—		—			—		40,526			—			40,526			—		40,526
Issuance of share based awards and share based awards compensation expense		—		—			3,426					—			3,426			—		3,426
Stock withholdings related to share based awards that vested during the three months ended March 31, 2018		—		(2,695	)		—		—			—			(2,695	)		—		(2,695	)
Dividends paid to stockholders, $0.32 per common share (1)		—		—			—		(37,346	)		—			(37,346	)		—		(37,346	)
Dividends accrued on unvested restricted stock unit awards (1)		—		—			—		(125	)		—			(125	)		—		(125	)
Net income		—		—			—		62,021			—			62,021			156		62,177
Other comprehensive income in equity method investees		—		—			—		—			136			136			—		136
Foreign currency translation adjustments		—		—			—		—			204			204			—		204
Balance at March 31, 2018		121		(79,049	)		1,144,514		647,298			(252,942	)		1,459,942			12,049		1,471,991
Issuance of share based awards and share based awards compensation expense		—		—			3,452		—			—			3,452			—		3,452
Stock withholdings related to share based awards that vested during the three months ended June 30, 2018		—		(210	)		—		—			—			(210	)		—		(210	)
Dividends paid to stockholders, $0.32 per common share (1)		—		—			—		(37,377	)		—			(37,377	)		—		(37,377	)
Dividends accrued on unvested restricted stock unit awards (1)		—		—			—		(146	)		—			(146	)		—		(146	)
Net income		—		—			—		82,135			—			82,135			329		82,464
Other comprehensive loss in equity method investees		—		—			—		—			(116	)		(116	)		—		(116	)
Foreign currency translation adjustments		—		—			—		—			(56,248	)		(56,248	)		—		(56,248	)
Balance at June 30, 2018		121		(79,259	)		1,147,966		691,910			(309,306	)		1,451,432			12,378		1,463,810
Issuance of share based awards and share based awards compensation expense		—		—			3,486		—			—			3,486			—		3,486
Dividends paid to stockholders, $0.32 per common share (1)		—		—			—		(37,385	)		—			(37,385	)		—		(37,385	)
Dividends accrued on unvested restricted stock unit awards (1)		—		—			—		(145	)		—			(145	)		—		(145	)
Net income		—		—			—		50,228			—			50,228			393		50,621
Other comprehensive loss in equity method investees		—		—			—		—			(63	)		(63	)		—		(63	)
Foreign currency translation adjustments		—		—			—		—			(10,797	)		(10,797	)		—		(10,797	)
Balance at September 30, 2018	$	121	$	(79,259	)	$	1,151,452	$	704,608		$	(320,166	)	$	1,456,756		$	12,771	$	1,469,527

(1) Below is a summary of dividends paid to stockholders and accrued on unvested restricted stock unit awards during the nine months ended September 30, 2019 and 2018:  

			Amount per Share
Declaration Date	Record Date	Payable Date	of Common Stock		Total
2/22/2019	3/8/2019	3/22/2019	$	0.34	$	39,905
5/23/2019	6/8/2019	6/24/2019		0.34		40,012
8/15/2019	9/4/2019	9/18/2019		0.34		40,021
Nine Months Ended September 30, 2019			$	1.02	$	119,938
2/23/2018	3/8/2018	3/22/2018	$	0.32	$	37,471
5/25/2018	6/8/2018	6/22/2018		0.32		37,523
8/23/2018	9/4/2018	9/18/2018		0.32		37,530
Nine Months Ended September 30, 2018			$	0.96	$	112,524

17

CINEMARK HOLDINGS, INC. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

In thousands, except share and per share data

8. National CineMedia

Below is a summary of activity with NCM included in the Company’s condensed consolidated financial statements:

	Investment in NCM			NCM Screen Advertising Advances			Distributions from NCM			Equity in Earnings			Other Revenue			Interest Expense - NCM (2)		Cash Received
Balance as of January 1, 2019	$	275,592		$	(287,349	)
Receipt of common units due to annual common unit adjustment ("CUA")		1,552			(1,552	)		—			—			—			—		—
Revenues earned under ESA (1)(2)		—			—			—			—			(22,151	)		13,392		8,759
Revenues earned under amendment to ESA(2)(3)		—			—			—			—			(1,482	)		788		694
Receipt of excess cash distributions		(16,126	)		—			(8,009	)		—			—			—		24,135
Receipt of cash under tax receivable agreement		(2,324	)		—			(1,159	)		—			—			—		3,483
Equity in earnings		14,062			—			—			(14,062	)		—			—		—
Amortization of deferred revenue		—			11,916			—			—			(11,916	)		—		—
Balance as of and for the nine months ended September 30, 2019	$	272,756		$	(276,985	)	$	(9,168	)	$	(14,062	)	$	(35,549	)	$	14,180	$	37,071

(1) Amount includes the per patron and per digital screen theatre access fees due to the Company prior to the first amendment to the Amended and Restated ESA, net of amounts paid to NCM for on-screen advertising time provided to the Company’s beverage concessionaire of approximately $8,808.

(2)   Reflects impact of significant financing component related to amounts received in advance under the ESA and CUA agreements.  See also Notes 3 and 4.  

(3) Reflects screen rental revenues earned after the amendment to the ESA.

Investment in National CineMedia

NCM operates a digital in-theatre network in the U.S. for providing cinema advertising. The Company entered into an Exhibitor Services Agreement with NCM (“ESA”), pursuant to which NCM primarily provides advertising to our theatres. As described in Note 6 to the Company’s financial statements as included in its 2018 Annual Report on Form 10-K, on February 13, 2007, National Cinemedia, Inc. (“NCMI”), an entity that serves as the sole manager of NCM, completed an initial public offering (“IPO”) of its common stock.  In connection with the NCMI initial public offering, the Company amended its operating agreement and the ESA. At the time of the NCMI IPO and as a result of amending the ESA, the Company received approximately $174,000 in cash consideration from NCM.  The proceeds were recorded as deferred revenue or NCM screen advertising advances and was being amortized over the term of the Amended and Restated ESA, or through February 2037.  Following the NCMI IPO, the Company does not recognize undistributed equity in the earnings on its original NCM membership units (referred to herein as the Company’s Tranche 1 Investment) until NCM’s future net earnings, less distributions received, surpass the amount of the excess distribution. The Company recognizes equity in earnings on its Tranche 1 Investment only to the extent it receives cash distributions from NCM. The Company recognizes cash distributions it receives from NCM on its Tranche 1 Investment as a component of earnings as Distributions from NCM.  The Company believes that the accounting model provided by ASC Topic 323-10-35-22 for recognition of equity investee losses in excess of an investor’s basis is analogous to the accounting for equity income subsequent to recognizing an excess distribution.

During the three months ended September 30, 2019 and 2018, the Company recorded equity in earnings of $9,050 and $6,830, respectively.  During the nine months ended September 30, 2019 and 2018, the Company recorded equity in earnings of $14,062 and $11,341, respectively.  

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CINEMARK HOLDINGS, INC. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

In thousands, except share and per share data

Common Unit Adjustments

In addition to the consideration received upon the NCMI IPO and ESA modification in 2007, the Company also periodically receives consideration in the form of common units from NCM.  Pursuant to a Common Unit Adjustment Agreement dated as of February 13, 2007 between NCMI and the Company, annual adjustments to the common membership units are made primarily based on increases or decreases in the number of theatre screens operated and theatre attendance generated by each Founding Member. As discussed in Note 6 to the Company’s financial statements as included in its 2018 Annual Report on Form 10-K, the common units received (collectively referred to as the Company’s “Tranche 2 Investment”) are recorded at estimated fair value as an increase in the Company’s investment in NCM with an offset to deferred revenue or NCM screen advertising advances. The Company’s Tranche 2 Investment is accounted for following the equity method, with undistributed equity earnings related to its Tranche 2 Investment included as a component of earnings in equity in income of affiliates and distributions received related to its Tranche 2 Investment are recorded as a reduction of investment basis

During March 2019, NCM performed its annual common unit adjustment calculation under the Common Unit Adjustment Agreement. As a result of the calculation, on March 29, 2019, the Company received an additional 219,056 common units of NCM, each of which is convertible into one share of NCMI common stock. The Company recorded the additional common units received at estimated fair value with a corresponding adjustment to deferred revenue of approximately $1,552. The fair value of the common units received was estimated based on the market price of NCMI common stock at the time the common units were determined, adjusted for volatility associated with the estimated time period it would take to convert the common units and register the respective shares.  The deferred revenue is recognized on a straight-line basis over the remaining term of the first amendment to the Amended and Restated ESA.

As of September 30, 2019, the Company owned a total of 39,737,700 common units of NCM, representing an ownership interest of approximately 25%. The estimated fair value of the Company’s investment in NCM was approximately $325,849 based on the price of NCMI common stock as of September 30, 2019 of $8.20 per share (Level 1 input as defined in FASB ASC Topic 820).

Exhibitor Service Agreement

As previously discussed, our domestic theatres are part of the in-theatre digital network operated by NCM under the ESA. NCM provides advertising to our theatres through its branded “Noovie” pre-show entertainment program and also handles lobby promotions and displays for our theatres.  We receive a monthly theatre access fee for participation in the NCM network and also earn screen advertising revenue on a per patron basis.   Prior to September 17, 2019, the ESA was accounted for under ASC Topic 606, Revenue from Contracts with Customers.   See Note 3 and Note 4.    Effective September 17, 2019, the Company signed an amendment to the ESA, under which the Company will provide incremental advertising time to NCM and has extended the term through February 2041.  Since the agreement was amended, the Company was required to evaluate the revised contract under ASC Topic 842, Leases, and as a result, determined that the ESA met the definition of a lease.  The Company leases nonconsecutive periods of use of its domestic theatre screens to NCM for purposes of showing third party advertising content.  The lease, which is classified as an operating lease, generally requires variable lease payments based on the number of patrons attending the showtimes during which such advertising is shown.  The lease agreement is considered short-term due to the fact that the nonconsecutive periods of use, or advertising time slots, are set on a weekly basis.  The revenues earned under the ESA screen advertising revenues, both before and after the amendment, are reflected in other revenue on the condensed consolidated income statement.  

The recognition of revenue related to the deferred revenue or NCM screen advertising advances will continue to be recorded on a straight-line basis over the new term of the amended ESA or February 2041.

	Twelve Months Ended September 30,
Remaining Maturity	2020		2021		2022		2023		2024		Thereafter		Total
NCM screen advertising advances		15,912		15,917		15,917		15,917		15,917		197,405		276,985

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CINEMARK HOLDINGS, INC. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

In thousands, except share and per share data

Significant Financing Component

Prior to the September 17, 2019 amendment of the ESA, the Company applied a significant financing component, as required by ASC Topic 606, due to the significant length of time between receiving the NCM screen advertising advances (the $174 million received at the NCMI IPO and the periodic common unit adjustments) and completion of the performance obligation.  Effective September 17, 2019, upon the Company’s evaluation and determination that ASC Topic 842 applies to the amended ESA, the Company determined it acceptable to retain the accounting for the significant financing component as the economic substance of the arrangement represents a financing, consistent with the guidance in ASC Topic 606.  As a result of the significant financing component, the Company recognized incremental screen advertising revenue and an offsetting interest expense of $4,666 and $4,983 during the three months ended September 30, 2019 and 2018, respectively, and $14,180 and $14,875 for the nine months ended September 30, 2019 and 2018, respectively. The interest expense was calculated using the Company’s incremental borrowing rates at the time when the cash and each tranche of common units were received from NCM, which ranged from 4.4% to 8.0%.

NCM Financial Information

Below is summary financial information for NCM for the periods indicated (financial information as of and for the three months ended September 27, 2019 is not yet available).

	Three Months Ended		Six Months ended		Three Months Ended		Nine Months Ended
	June 27, 2019		June 27, 2019		September 27, 2018		September 27, 2018
Gross revenues	$	110,200	$	187,100	$	110,100	$	304,000
Operating income	$	37,700	$	48,600	$	42,300	$	93,500
Net income	$	23,500	$	20,600	$	28,500	$	50,500

	As of			As of
	June 27, 2019			December 27, 2018
Current assets	$	141,100		$	172,700
Noncurrent assets	$	732,900		$	726,800
Current liabilities	$	88,400		$	115,200
Noncurrent liabilities	$	939,300		$	924,900
Members deficit	$	(153,700	)	$	(140,600	)

9. Other Investments

Below is a summary of activity for each of the Company’s other investments for the nine months ended September 30, 2019:

	DCIP			AC JV, LLC			DCDC		FE Concepts			Other			Total
Balance at January 1, 2019	$	125,252		$	5,266		$	2,255	$	19,918		$	4,075		$	156,766
Cash distributions received		(7,912	)		(1,800	)		—		—			—			(9,712	)
Equity in income		17,024			2,185			777		(66	)		—			19,920
Equity in other comprehensive loss		(142	)		—			—		—			—			(142	)
Other		—			—			—		—			(799	)		(799	)
Balance at September 30, 2019	$	134,222		$	5,651		$	3,032	$	19,852		$	3,276		$	166,033

Digital Cinema Implementation Partners LLC (“DCIP”)

On February 12, 2007, the Company, AMC and Regal (the “Exhibitors”) entered into a joint venture known as DCIP to facilitate the implementation of digital cinema in the Company’s theatres and to establish agreements with major motion picture studios for the financing of digital cinema. On March 10, 2010, DCIP and its subsidiaries completed an initial financing transaction to enable the purchase, deployment and leasing of digital projection systems to the Exhibitors under equipment lease and installation agreements.  On March 31, 2011, DCIP obtained incremental financing necessary to complete the deployment of digital projection systems.  DCIP also entered into long-term Digital Cinema Deployment Agreements (“DCDAs”) with six major motion picture studios pursuant to which Kasima LLC, one of DCIP’s subsidiaries, receives a virtual print fee ("VPF") each time the studio books a film or certain other content on the leased digital projection systems. Other content distributors entered into similar DCDAs that provide for the payment of VPFs for bookings of the distributor's content on a leased digital projection system.  The DCDAs end on the earlier to occur of (i) the tenth anniversary of the "mean deployment date" for all digital projection systems scheduled to be deployed over a period of up to five years, or (ii) the date DCIP achieves "cost recoupment", each as defined in the DCDAs.  Cost

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CINEMARK HOLDINGS, INC. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

In thousands, except share and per share data

recoupment occurs when revenues attributable to the digital projection systems exceed the financing, deployment, administration and other costs associated with the purchase of the digital projection systems.  DCIP expects cost recoupment to occur during late 2020.  Pursuant to the operating agreement between the Exhibitors and DCIP, DCIP began to distribute excess cash to the Exhibitors upon the payoff of its outstanding debt, which occurred during the three months ended September 30, 2019.  

As of September 30, 2019, the Company had a 33% voting interest in DCIP and a 24.3% economic interest in DCIP. The Company accounts for its investment in DCIP and its subsidiaries under the equity method of accounting.

Below is summary financial information for DCIP for the periods indicated:

	Three Months Ended				Nine Months Ended
	September 30, 2019		September 30, 2018		September 30, 2019		September 30, 2018
Gross revenues	$	40,200	$	43,403	$	125,869	$	126,957
Operating income	$	22,617	$	25,816	$	73,396	$	74,310
Net income	$	22,362	$	24,311	$	69,323	$	68,014

	As of
	September 30, 2019		December 31, 2018
Current assets	$	64,019	$	57,907
Noncurrent assets	$	603,209	$	684,545
Current liabilities	$	66,942	$	67,408
Noncurrent liabilities	$	11,985	$	125,596
Members' equity	$	588,301	$	549,448

As of September 30, 2019, the Company had 3,866 digital projection systems being leased under the master equipment lease agreement with Kasima LLC, which is an indirect subsidiary of DCIP and a related party to the Company.  See Note 3 for discussion of the weighted-average remaining lease term and discount rate of equipment operating leases, which includes digital projection systems leased from Kasima, LLC. The Company had the following transactions with DCIP, reflected in utilities and other costs on the condensed consolidated statements of income, during the three and nine months ended September 30, 2019 and 2018:

	Three Months Ended						Nine Months Ended
	September 30, 2019			September 30, 2018			September 30, 2019			September 30, 2018
Equipment lease payments	$	1,105		$	1,229		$	3,357		$	3,689
Warranty reimbursements from DCIP	$	(2,953	)	$	(2,791	)	$	(8,842	)	$	(7,909	)
Management service fees	$	128		$	180		$	438		$	558

AC JV, LLC

During December 2013, the Company, Regal, AMC (the “AC Founding Members”) and NCM entered into a series of agreements that resulted in the formation of AC JV, LLC (“AC”), a joint venture that owns “Fathom Events” formerly operated by NCM.  The Fathom Events business focuses on the marketing and distribution of live and pre-recorded entertainment programming to various theatre operators, including concerts, opera and symphony, DVD product releases and marketing events, theatrical premieres, Broadway plays, live sporting events and other special events. The Company paid event fees to AC of $10,332 and $8,516 for the nine months ended September 30, 2019 and 2018, respectively, which are included in film rentals and advertising costs on the condensed consolidated statements of income.  Additionally, the remaining outstanding balance of a note payable from the Company to NCM, related to the formation of AC, was $1,389 as of September 30, 2019.

Digital Cinema Distribution Coalition

Digital Cinema Distribution Coalition (“DCDC”) is a joint venture among the Company, Universal, Warner Bros., AMC and Regal.  DCDC operates a satellite distribution network that distributes all digital content to U.S. theatres via satellite. The Company has an approximate 14.6% ownership in DCDC. The Company paid approximately $703 and $657 to DCDC during the nine months ended September 30, 2019 and 2018, respectively, related to content delivery services provided by DCDC.  These fees are included in film rentals and advertising costs on the condensed consolidated statements of income.

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CINEMARK HOLDINGS, INC. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

In thousands, except share and per share data

FE Concepts, LLC

During April 2018, the Company, through its wholly-owned indirect subsidiary CNMK Texas Properties, LLC (“CNMK”), formed a joint venture, FE Concepts, LLC (“FE Concepts”) with AWSR Investments, LLC (“AWSR”), an entity owned by Lee Roy Mitchell and Tandy Mitchell.  FE Concepts will develop and operate a family entertainment center that offers bowling, gaming, movies and other amenities.  The Company and AWSR each invested approximately $20,000 and each have a 50% voting interest in FE Concepts.  The Company accounts for its investment in FE Concepts under the equity method of accounting.

10. Treasury Stock and Share Based Awards

Treasury Stock — Treasury stock represents shares of common stock repurchased or withheld by the Company and not yet retired. The Company has applied the cost method in recording its treasury shares.  Below is a summary of the Company’s treasury stock activity for the nine months ended September 30, 2019:

	Number of
	Treasury
	Shares		Cost
Balance at January 1, 2019		4,626,191	$	79,259
Restricted stock withholdings (1)		57,456		2,247
Restricted stock forfeitures		19,351	—
Balance at September 30, 2019		4,702,998	$	81,506

(1) The Company withheld restricted shares as a result of the election by certain employees to satisfy their tax liabilities upon vesting in restricted stock and restricted stock units.  The Company determined the number of shares to be withheld based upon market values ranging from $36.81 to $40.32 per share.

As of September 30, 2019, the Company had no plans to retire any shares of treasury stock.

Restricted Stock – During the nine months ended September 30, 2019, the Company granted 308,250 shares of restricted stock to its directors and employees. The fair value of the restricted stock granted was determined based on the market value of the Company’s common stock on the dates of grant, which ranged from $36.70 to $41.61 per share. The Company assumed forfeiture rates for the restricted stock awards that ranged from 0% to 10%.  The restricted stock awards vest over periods ranging from one to four years. The recipients of restricted stock are entitled to receive non-forfeitable dividends and to vote their respective shares, however, the sale and transfer of the restricted shares is prohibited during the restriction period.

Below is a summary of restricted stock activity for the nine months ended September 30, 2019:

	Shares of			Weighted Average
	Restricted			Grant Date
	Stock			Fair Value
Outstanding at January 1, 2019		704,353		$	38.68
Granted		308,250		$	37.42
Vested		(198,711	)	$	41.38
Forfeited		(19,351	)	$	37.41
Outstanding at September 30, 2019		794,541		$	37.55
Unvested restricted stock at September 30, 2019		794,541		$	37.55

	Nine Months Ended September 30,
	2019		2018
Compensation expense recognized during the period	$	7,456	$	7,266
Fair value of restricted shares that vested during the period	$	7,630	$	7,815
Income tax benefit recognized upon vesting of restricted stock awards	$	1,473	$	1,751

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CINEMARK HOLDINGS, INC. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

In thousands, except share and per share data

As of September 30, 2019, the estimated remaining unrecognized compensation expense related to unvested restricted stock awards was $17,998 and the weighted average period over which this remaining compensation expense will be recognized is approximately two years.

Restricted Stock Units – During the nine months ended September 30, 2019, the Company granted restricted stock units representing 306,651 hypothetical shares of common stock to employees. The restricted stock units vest based on a combination of financial performance factors and continued service. The financial performance factors are based on an implied equity value concept that determines an internal rate of return (“IRR”) during the two fiscal year periods ending December 31, 2020 based on a formula utilizing a multiple of Adjusted EBITDA subject to certain adjustments as specified by the Compensation Committee prior to the grant date. The financial performance factors for the restricted stock units have a threshold, target and maximum level of payment opportunity and vest on a prorata basis according to the IRR achieved by the Company during the performance period. If the IRR for the two-year period is at least 6%, which is the threshold, one-third of the maximum restricted stock units vest. If the IRR for the two-year period is at least 8%, which is the target, two-thirds of the maximum restricted stock units vest. If the IRR for the two-year period is at least 14%, which is the maximum, 100% of the maximum restricted stock units vest. Grantees are eligible to receive a ratable portion of the common stock issuable if the IRR is within the targets previously noted. Further, as an example, if the Company achieves an IRR equal to 11%, the number of restricted stock units that shall vest will be greater than the target but less than the maximum number that would have vested had the Company achieved the highest IRR.  All restricted stock units granted during 2019 will vest subject to an additional two-year service requirement and will be paid in the form of common stock if the participant continues to provide services through the fourth anniversary of the grant date. Restricted stock unit award participants are eligible to receive dividend equivalent payments from the grant date if, and at the time that, the restricted stock unit awards vest.  

Below is a table summarizing the potential number of shares that could vest under restricted stock unit awards granted during the nine months ended September 30, 2019 at each of the three target levels of financial performance (excluding forfeiture assumptions):

	Number of
	Shares		Value at
	Vesting		Grant
at IRR of at least 6%		136,285	$	5,011
at IRR of at least 8%		204,427	$	7,517
at IRR of at least 14%		306,651	$	11,276

Due to the fact that the IRR for the two-year performance period could not be determined at the time of the 2019 grant, the Company estimated that the most likely outcome is the achievement of the target IRR level. The fair value of the restricted stock unit awards was determined based on the closing price of the Company’s common stock on the date of grant, which was $36.77 per share. The Company assumed a forfeiture rate of 5% for the restricted stock unit awards. If during the service period, additional information becomes available to lead the Company to believe a different IRR level will be achieved for the two-year performance period, the Company will reassess the number of units that are expected to vest for the grant and adjust its compensation expense accordingly on a prospective basis over the remaining service period.

	Nine Months Ended September 30,
	2019		2018
Number of restricted stock unit awards that vested during the period		88,074		127,084
Fair value of restricted stock unit awards that vested during the period	$	3,550	$	4,846
Accumulated dividends paid upon vesting of restricted stock unit awards	$	375	$	526
Compensation expense recognized during the period	$	3,030	$	3,098
Income tax benefit recognized upon vesting of restricted stock unit awards	$	175	$	740

During the nine months ended September 30, 2019, the Company modified the performance target levels for the restricted stock unit awards granted during February 2017 and February 2018 for all participants other than certain executive officers.  The modification adjusted the threshold, target and maximum IRR levels from 7.0%, 9.5% and 13.0%, respectively, to 6.0%, 8.0% and

23

CINEMARK HOLDINGS, INC. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

In thousands, except share and per share data

14.0%, respectively.  The Company accounted for the change in performance measures as modifications of each award, and recorded a reduction to compensation expense of $132 during the three months ended March 31, 2019.  Simultaneous with the modification of the restricted stock unit awards granted during February 2017, the Company determined that the final IRR reached for the respective measurement period was 9.3%, which resulted in a reduction in compensation expense of approximately $563.  

As of September 30, 2019, the estimated remaining unrecognized compensation expense related to the outstanding restricted stock unit awards was $11,128. The weighted average period over which this remaining compensation expense will be recognized is approximately two years. As of September 30, 2019, the Company had restricted stock units outstanding that represented a total of 554,529 hypothetical shares of common stock, net of forfeitures, assuming an IRR of 7.2% was achieved for the 2016 grants, an IRR of 9.3% was achieved for the 2017 grants, and the maximum IRR level is achieved for all other grants outstanding.

11. Goodwill and Other Intangible Assets

The Company’s goodwill was as follows:

	U.S. Operating Segment		International Operating Segment			Total
Balance at January 1, 2019 (1)	$	1,174,041	$	102,283		$	1,276,324
Theatres acquired in the US and Brazil (2)		8,812		869			9,681
Foreign currency translation adjustments		—		(4,651	)		(4,651	)
Balance at September 30, 2019 (1)	$	1,182,853	$	98,501		$	1,281,354

(1) Balances are presented net of accumulated impairment losses of $214,031 for the U.S. operating segment and $27,622 for the international operating segment.

(2) Amount represents final purchase price allocation for two theatres acquired in the U.S. during 2019 and the final purchase price allocation adjustment for theatres acquired in Brazil during 2018.

The Company evaluates goodwill for impairment annually during the fourth quarter or whenever events or changes in circumstances indicate the carrying value of the goodwill may not be fully recoverable.  The Company evaluates goodwill for impairment at the reporting unit level and has allocated goodwill to the reporting unit based on an estimate of its relative fair value. Management considers the reporting unit to be each of its nineteen regions in the U.S. and seven countries internationally with Honduras, El Salvador, Nicaragua, Costa Rica, Panama and Guatemala considered one reporting unit (the Company does not have goodwill recorded for all of its international locations).  For the year ended December 31, 2018, the Company performed a quantitative goodwill impairment assessment on all reporting units, in accordance with ASC Topic 350-20-35.  No events or changes in circumstances occurred during the nine months ended September 30, 2019 that indicated the carrying value of goodwill might exceed its estimated fair value.

Intangible assets consisted of the following:

	Balance at January 1, 2019			Impact of Adoption of ASC Topic 842 (1)			Amortization			Other (2)			Balance at September 30, 2019
Intangible assets with finite lives:
Gross carrying amount	$	105,256		$	(18,024	)	$	—		$	(2,501	)	$	84,731
Accumulated amortization		(74,603	)		13,597			(3,730	)		2,130			(62,606	)
Total net intangible assets with finite lives	$	30,653		$	(4,427	)	$	(3,730	)	$	(371	)	$	22,125
Intangible assets with indefinite lives:
Tradename and other		300,257		―			―				289			300,546
Total intangible assets — net	$	330,910		$	(4,427	)	$	(3,730	)	$	(82	)	$	322,671

(1) See Note 3 for further discussion of the impact of adoption of ASC Topic 842.

(2) Amount represents the write-off of fully amortized intangible assets related to non-compete agreements, the acquisition of tradeable liquor licenses, fair values allocated to intangible assets acquired as part of acquisitions of two theatres in the U.S. and foreign currency translation adjustments.

24

CINEMARK HOLDINGS, INC. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

In thousands, except share and per share data

For the year ended December 31, 2018, the Company performed a quantitative assessment for all definite and indefinite-lived tradename assets.  No events or changes in circumstances occurred during the nine months ended September 30, 2019 that indicated the carrying value of its tradename assets might exceed their estimated fair values.

Estimated aggregate future amortization expense for intangible assets is as follows:

For the three months ended December 31, 2019	$	1,254
For the twelve months ended December 31, 2020		4,986
For the twelve months ended December 31, 2021		3,150
For the twelve months ended December 31, 2022		3,116
For the twelve months ended December 31, 2023		3,083
Thereafter		6,536
Total	$	22,125

12. Impairment of Long-Lived Assets

The Company reviews long-lived assets for impairment indicators on a quarterly basis or whenever events or changes in circumstances indicate the carrying amount of the assets may not be fully recoverable. See discussion of the Company’s long-lived asset impairment evaluation process in Note 1 to the Company’s financial statements as included in its 2018 Annual Report on Form 10-K.  As noted in the discussion, fair value is determined based on a multiple of cash flows, which was six and a half times for the evaluations performed during the nine months ended September 30, 2019 and 2018. As of September 30, 2019, the estimated aggregate fair value of the long-lived assets impaired during the nine months ended September 30, 2019 was $27,383.

The long-lived asset impairment charges recorded during each of the periods presented are specific to theatres that were directly and individually impacted by increased competition, adverse changes in market demographics or adverse changes in the development or the conditions of the areas surrounding the theatre.

Below is a summary of impairment charges for the periods presented:

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2019		2018		2019		2018
U.S. theatre properties and equipment	$	24,502	$	1,553	$	26,754	$	3,331
U.S. operating lease right-of-use assets		2,157		—		10,204		—
International theatre properties and equipment		645		88		6,796		1,689
International operating lease right-of-use assets		—		—		1,628		—
Total	$	27,304	$	1,641	$	45,382	$	5,020

13. Fair Value Measurements

The Company determines fair value measurements in accordance with ASC Topic 820, which establishes a fair value hierarchy under which an asset or liability is categorized based on the lowest level of input significant to its fair value measurement. The levels of input defined by ASC Topic 820 are as follows:

Level 1 – quoted market prices in active markets for identical assets or liabilities that are accessible at the measurement date;

Level 2 – other than quoted market prices included in Level 1 that are observable for the asset or liability, either directly or indirectly; and

Level 3 – unobservable and should be used to measure fair value to the extent that observable inputs are not available.

Below is a summary of liabilities measured at fair value on a recurring basis by the Company under FASB ASC Topic 820 as of September 30, 2019:

	Carry			Fair Value
Description	Value			Level 1		Level 2		Level 3
Interest rate swap liabilities (1)	$	(18,988	)	$	—	$	—	$	(18,988	)

(1) See further discussion of interest rate swaps at Note 6.

25

CINEMARK HOLDINGS, INC. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

In thousands, except share and per share data

Below is a summary of liabilities measured at fair value on a recurring basis by the Company under FASB ASC Topic 820 as of December 31, 2018:

	Carry			Fair Value
Description	Value			Level 1		Level 2		Level 3
Interest rate swap liabilities (1)	$	(5,093	)	$	—	$	—	$	(5,093	)

(1) See further discussion of interest rate swaps at Note 6.

Below is a reconciliation of the beginning and ending balance for liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3):

	Liabilities (1)
	2019
Beginning balance - January 1	$	5,093
Total loss included in accumulated other comprehensive loss		15,036
Settlements included in interest expense		(1,141	)
Ending balance - September 30	$	18,988

(1) Represents interest rate swap liabilities.  See further discussion of interest rate swaps at Note 6.

The Company uses the market approach for fair value measurements on a nonrecurring basis in the impairment evaluations of its long-lived assets (see Note 11 and Note 12). See additional explanation of fair value measurement techniques used for long-lived assets, goodwill and intangible assets in “Critical Accounting Policies” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018, filed February 28, 2019.  There were no changes in valuation techniques and there were no transfers in or out of Level 1, Level 2 or Level 3 during the nine months ended September 30, 2019.  

14. Foreign Currency Translation

The accumulated other comprehensive loss account in stockholders’ equity of $349,381 and $319,007 as of September 30, 2019 and December 31, 2018, respectively, primarily includes cumulative foreign currency adjustments of $335,028 and $315,300, respectively, from translating the financial statements of the Company’s international subsidiaries and the cumulative changes in fair value of the Company’s interest rate swap agreements that are designated as hedges.

As of September 30, 2019, all foreign countries where the Company has operations, other than Argentina, are non-highly inflationary, and the local currency is the same as the functional currency in all of the locations. Thus, any fluctuation in the currency results in a cumulative foreign currency translation adjustment recorded to accumulated other comprehensive loss.  The Company deemed Argentina to be highly inflationary beginning July 1, 2018.  A highly inflationary economy is defined as an economy with a cumulative inflation rate of approximately 100 percent or more over a three-year period. If a country’s economy is classified as highly inflationary, the financial statements of the foreign entity operating in that country must be remeasured to the functional currency of the reporting entity.  The financial information of the Company’s Argentina subsidiaries has been remeasured in U.S. dollars in accordance with ASC Topic 830, Foreign Currency Matters, effective beginning July 1, 2018.  

Below is a summary of the impact of translating the September 30, 2019 financial statements of the Company’s international subsidiaries:

					Other Comprehensive Loss for
	Exchange Rate as of				Nine Months Ended
Country	September 30, 2019		December 31, 2018		September 30, 2019			September 30, 2018
Brazil		4.16		3.88	$	(14,492	)	$	(42,588	)
Argentina (1)		57.41		37.68		—			(18,272	)
Chile		727.65		694.74		(4,017	)		(4,822	)
Colombia		3,462.00		3,249.75		(1,507	)		70
Peru		3.40		3.39		(203	)		(891	)
All other						491			(338	)
					$	(19,728	)	$	(66,841	)

(1)   Beginning July 1, 2018, Argentina was deemed highly inflationary.  The impact of translating Argentina financial results to U.S. dollars, which was not significant, has been recorded in foreign currency exchange loss on the Company’s condensed consolidated statement of income.  

26

CINEMARK HOLDINGS, INC. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

In thousands, except share and per share data

15. Supplemental Cash Flow Information

The following is provided as supplemental information to the condensed consolidated statements of cash flows:

	Nine Months Ended
	September 30,
	2019			2018
Cash paid for interest	$	56,326		$	62,773
Cash paid for income taxes, net of refunds received	$	69,498		$	42,631
Noncash investing and financing activities:
Change in accounts payable and accrued expenses for the acquisition of theatre properties and equipment (1)	$	(13,642	)	$	7,050
Theatre properties acquired under capital lease	$	—		$	4,035
Interest expense - NCM (see Note 8)	$	(14,180	)	$	(14,875	)
Investment in NCM – receipt of common units (see Note 8)	$	1,552		$	5,012
Dividends accrued on unvested restricted stock unit awards	$	(486	)	$	(416	)

(1) Additions to theatre properties and equipment included in accounts payable as of September 30, 2019 and December 31, 2018 were $23,362 and $37,004, respectively.

16. Segments

The Company manages its international market and its U.S. market as separate reportable operating segments, with the international segment consisting of operations in Brazil, Argentina, Chile, Colombia, Peru, Ecuador, Honduras, El Salvador, Nicaragua, Costa Rica, Panama, Guatemala, Bolivia, Curacao and Paraguay. Each segment’s revenue is derived from admissions and concession sales and other ancillary revenues. The Company uses Adjusted EBITDA, as shown in the reconciliation table below, as the primary measure of segment profit and loss to evaluate performance and allocate its resources. The Company does not report total assets by segment because that information is not used to evaluate the performance of or allocate resources between segments.

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

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2019			2018			2019			2018
Revenues
U.S.	$	636,628		$	585,536		$	1,941,545		$	1,897,664
International		188,772			171,960			563,509			535,567
Eliminations		(3,583	)		(3,261	)		(10,758	)		(9,972	)
Total revenues	$	821,817		$	754,235		$	2,494,296		$	2,423,259
Adjusted EBITDA
U.S.	$	132,347		$	132,652		$	453,404		$	476,907
International		37,411			35,740			113,346			106,518
Total Adjusted EBITDA	$	169,758		$	168,392		$	566,750		$	583,425
Capital expenditures
U.S.	$	50,679		$	65,458		$	148,609		$	195,104
International		20,664			17,915			37,903			50,858
Total capital expenditures	$	71,343		$	83,373		$	186,512		$	245,962

27

CINEMARK HOLDINGS, INC. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

In thousands, except share and per share data

The following table sets forth a reconciliation of net income to Adjusted EBITDA:

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2019			2018			2019			2018
Net income	$	31,955		$	50,621		$	167,009		$	195,262
Add (deduct):
Income taxes		14,053			16,169			64,152			59,592
Interest expense (1) (2)		24,967			27,144			75,037			82,725
Other income, net (3)		(9,970	)		(8,810	)		(25,079	)		(15,247	)
Loss on debt amendments and refinancing		—			—			—			1,484
Distributions from DCIP (4)		2,694			—			7,912			5,201
Other cash distributions from equity investees (5)		5,804			4,786			20,251			15,840
Depreciation and amortization (2)		67,760			64,971			196,795			193,656
Impairment of long-lived assets		27,304			1,641			45,382			5,020
Loss on disposal of assets and other		2,453			7,826			8,057			28,666
Non-cash rent expense (6)		(1,102	)		—			(3,252	)		—
Deferred lease expenses (2)		—			(20	)		—			(952	)
Amortization of long-term prepaid rents (2)		—			578			—			1,814
Share based awards compensation expense		3,840			3,486			10,486			10,364
Adjusted EBITDA (2)	$	169,758		$	168,392		$	566,750		$	583,425

(1) Includes amortization of debt issue costs.

(2) Amounts for the three and nine months ended September 30, 2019 were impacted by the adoption of ASC Topic 842 and the resulting change in the classification of certain of the Company’s leases.  

(3) Includes interest income, foreign currency exchange loss, equity in income of affiliates and interest expense - NCM and excludes distributions from NCM.

(4) See discussion of cash distributions from DCIP, which were recorded as a reduction of the Company’s investment in DCIP, at Note 9.

(5) Includes cash distributions received from equity investees, other than those from DCIP noted above, that were recorded as a reduction of the respective investment balances (see Notes 8 and 9).  These distributions are reported entirely within the U.S. operating segment.

(6) The adoption of ASC Topic 842 impacted how the Company amortizes lease related assets and liabilities such as deferred lease expenses, favorable and unfavorable lease intangible assets, long-term prepaid rents and deferred lease incentives.  Beginning January 1, 2019, these items are amortized to facility lease expense for theatre operating leases and utilities and other for equipment operating leases.  See Note 3 for discussion of the impact of ASC Topic 842.  

Financial Information About Geographic Areas

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

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
Revenues	2019			2018			2019			2018
U.S.	$	636,628		$	585,536		$	1,941,545		$	1,897,664
Brazil		79,776			65,152			240,263			218,265
Other international countries		108,996			106,808			323,246			317,302
Eliminations		(3,583	)		(3,261	)		(10,758	)		(9,972	)
Total	$	821,817		$	754,235		$	2,494,296		$	2,423,259

	As of		As of
Theatre Properties and Equipment-net (1)	September 30, 2019		December 31, 2018
U.S.	$	1,408,052	$	1,479,603
Brazil		111,297		140,570
Other international countries		163,052		212,960
Total	$	1,682,401	$	1,833,133

⁽¹⁾ See Note 3 for discussion of impact of ASC Topic 842 on capital lease assets.  

28

CINEMARK HOLDINGS, INC. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

In thousands, except share and per share data

17. Related Party Transactions

The Company manages theatres for Laredo Theatre, Ltd. (“Laredo”). The Company is the sole general partner and owns 75% of the limited partnership interests of Laredo. Lone Star Theatres, Inc. owns the remaining 25% of the limited partnership interests in Laredo and is 100% owned by Mr. David Roberts, Lee Roy Mitchell’s son-in-law. Lee Roy Mitchell is the Company’s Chairman of the Board of Directors and directly and indirectly owns approximately 8% of the Company’s common stock. Under the agreement, management fees are paid by Laredo to the Company at a rate of 5% of annual theatre revenues up to $50,000 and 3% of annual theatre revenues in excess of $50,000. The Company recorded $539 and $488 of management fee revenues during the nine months ended September 30, 2019 and 2018, respectively. All such amounts are included in the Company’s condensed consolidated financial statements with the intercompany amounts eliminated in consolidation.

The Company has an Aircraft Time Sharing Agreement with Copper Beech Capital, LLC (“Copper Beech”) to use, on occasion, a private aircraft owned by Copper Beech. Copper Beech is owned by Mr. Mitchell and his wife, Tandy Mitchell. The private aircraft is used by Mr. Mitchell and other executives who accompany Mr. Mitchell to business meetings for the Company. The Company reimburses Copper Beech for the actual costs of fuel usage and the expenses of the pilots, landing fees, storage fees and similar expenses incurred during the trip.  For the nine months ended September 30, 2019 and 2018, the aggregate amounts paid to Copper Beech for the use of the aircraft was $111 and $51, respectively.

The Company leases 14 theatres and one parking facility from Syufy Enterprises, LP (“Syufy”) or affiliates of Syufy. Raymond Syufy is one of the Company’s directors and is an officer of the general partner of Syufy. Of these 15 leases, 14 have fixed minimum annual rent. The one lease without minimum annual rent has rent based upon a specified percentage of gross sales as defined in the lease. For the nine months ended September 30, 2019 and 2018, the Company paid total rent of approximately $20,006 and $19,465, respectively, to Syufy.  During 2019, the Company began providing digital equipment support to drive-in theatres owned by Syufy.  The Company billed approximately $36 related to these services during the nine months ended September 30, 2019.  

The Company has a 50% voting interest in FE Concepts, a joint venture with AWSR, an entity owned by Lee Roy Mitchell and Tandy Mitchell.  FE Concepts will develop and operate a family entertainment center that offers bowling, gaming, movies and other amenities.  See Note 9 for further discussion.  

18. Commitments and Contingencies

From time to time, the Company is involved in various legal proceedings arising from the ordinary course of its business operations, such as personal injury claims, employment matters, landlord-tenant disputes, patent claims and contractual disputes, some of which are covered by insurance. The Company believes its potential liability with respect to proceedings currently pending is not material, individually or in the aggregate, to the Company’s financial position, results of operations and cash flows.  

Silken Brown v. Cinemark USA, Inc., Case No. 3:13cv05669, In the United States District Court for the Northern District of California, San Francisco Division. The case presents putative class action claims for penalties and attorney's fees arising from alleged violations of the California wage statement law.  The claim is also asserted as a representative action under the California Private Attorney General Act (PAGA) for penalties. The Court granted class certification. The company denies the claims, denies that class certification is appropriate, denies that the plaintiff has standing to assert the claims alleged and is vigorously defending against the claims.  The Company denies any violation of law; however, to avoid the cost and uncertainty associated with litigation the Company and the plaintiff entered into a Joint Stipulation of Class Action Settlement and Release of Claims (the “Settlement Agreement”) to fully and finally dismiss all claims that would be brought in the case.  The Settlement Agreement was approved by the Court in September 2019.  The Company funded the appropriate amounts required under the Settlement Agreement with the administrator of the class claims in October 2019. 

29

CINEMARK HOLDINGS, INC. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

In thousands, except share and per share data

Flagship Theatres of Palm Desert, LLC d/b/a Cinemas Palme D’Or v. Century Theatres, Inc., and Cinemark USA, Inc.; Superior Court of the State of California, County of Los Angeles.  Plaintiff in this case alleges that the Company violated California antitrust and unfair competition laws by engaging in “circuit dealing” with various motion picture distributors and tortiously interfered with Plaintiff’s business relationships.  Plaintiff seeks compensatory damages, trebling of those damages under California law, punitive damages, injunctive relief, attorneys’ fees, costs and interest.  Plaintiff also alleges that the Company’s conduct ultimately resulted in closure of its theatre in June 2016.  The Company denied the allegations.  In 2008, the Company moved for summary judgment on Plaintiff’s claims, arguing primarily that clearances between the theatres at issue were lawful and that Plaintiff lacked proof sufficient to support certain technical elements of its antitrust claims.  The trial court granted that motion and dismissed Plaintiff’s claims.  Plaintiff appealed and, in 2011, the Court of Appeal reversed, holding, among other things, that Plaintiff’s claims were not about the illegality of clearances but were focused, instead, on “circuit dealing.”  Having re-framed the claims in that manner, the Court of Appeal held that the trial court’s decision to limit discovery to the market where the theatres at issue operated was an error, as “circuit dealing” necessarily involves activities in different markets.  Upon return to the trial court, the parties engaged in additional, broadened discovery related to Plaintiff’s “circuit dealing” claim.  Thereafter, the Company moved again for summary judgment on all of Plaintiff’s claims.  That new motion for summary judgment was pending when, on or about April 11, 2014, the trial court granted the Company’s motion for terminating sanctions and entered a judgment dismissing the case with prejudice.  Plaintiff then appealed that second dismissal, seeking to have the judgment reversed and the case remanded to the trial court.  The Court of Appeal issued a ruling on May 24, 2016, reversing the granting of terminating sanctions and instead imposed a lesser evidentiary and damages preclusion sanction.  The case returned to the trial court on October 6, 2016.  On May 10, 2018, after a five-week jury trial, the jury found no liability on one circuit dealing claim and awarded Plaintiff damages on the other claim, which are tripled for antitrust damage awards.  Plaintiff would also be entitled to certain court costs and to seek at least some portion of its attorney’s fees.  During 2018, the Company recorded a litigation reserve based on the jury award, court costs and attorney’s fees.  The trial court denied a motion for a judgment notwithstanding the verdict and a motion for a new trial. The Company has appealed the judgment.  Although the Company denies that it engaged in any form of circuit dealing, it cannot predict the outcome of its pending motions or future appeals.

Civil Investigative Demand. The Company received a Civil Investigative Demand (“CID”) from the Antitrust Division of the United States Department of Justice. The CID relates to an investigation under Sections 1 and 2 of the Sherman Act. The Company also received CIDs from the Antitrust Section of the Office of the Attorney General of the State of Ohio and later from other states regarding similar inquiries under state antitrust laws. The CIDs request the Company to answer interrogatories, and produce documents, or both, related to the investigation of matters including film clearances, potential coordination and/or communication with other major theatre circuits and related joint ventures.  The Company intends to fully cooperate with all federal and state government agencies. Although the Company does not believe that it has violated any federal or state antitrust or competition laws, it cannot predict the ultimate scope, duration or outcome of these investigations.

30

Item 2.  Management’s Discussion and Analysis of Financial Condition and Results of Operations

The following discussion and analysis should be read in conjunction with our condensed consolidated financial statements and related notes and schedules included elsewhere in this report.

We are a leader in the motion picture exhibition industry, with theatres in the U.S., Brazil, Argentina, Chile, Colombia, Ecuador, Peru, Honduras, El Salvador, Nicaragua, Costa Rica, Panama, Guatemala, Bolivia, Curacao and Paraguay. As of September 30, 2019, we managed our business under two reportable operating segments – U.S. markets and international markets. See Note 16 to our condensed consolidated financial statements.

We generate revenues primarily from filmed entertainment box office receipts and concession sales with additional revenues from screen advertising sales and other revenue streams, such as transactional fees, vendor marketing promotions, studio trailer placements, meeting rentals and electronic video games located in some of our theatres. We also offer alternative entertainment, such as live and pre-recorded sports programs, concert events, the Metropolitan Opera, in-theatre gaming and other special events in our theatres through AC JV, LLC. NCM provides our domestic theatres with various forms of in-theatre advertising. Our Flix Media subsidiaries provide screen advertising and alternative content for our international circuit and to other international exhibitors.

Films leading the box office during the nine months ended September 30, 2019 included Avengers: Endgame, The Lion King, Toy Story 4, Captain Marvel, Spider-Man: Far from Home, Aladdin, It: Chapter Two, Us, Fast & Furious Presents: Hobbs & Shaw, and John Wick: Chapter 3 – Parabellum. Films scheduled for release during the remainder of 2019 include Star Wars: Episode IX, Frozen 2, Jumanji: The Next Level and Joker, among other films.

Film rental costs are variable in nature and fluctuate with our admissions revenues. Film rental costs as a percentage of revenues are generally higher for periods in which more blockbuster films are released. The Company also receives virtual print fees from studios for certain of its international locations, which are included as a contra-expense in film rentals and advertising costs.  Advertising costs, which are expensed as incurred, are primarily related to campaigns for new and renovated theatres, loyalty and membership programs and brand advertising that vary depending on the timing of such campaigns.

Concession supplies expense is variable in nature and fluctuates with our concession revenues and product mix. We negotiate prices for concession supplies directly with concession vendors and manufacturers to obtain volume rates.

Although salaries and wages include a fixed cost component (i.e. the minimum staffing costs to operate a theatre facility during non-peak periods), salaries and wages move in relation to revenues as theatre staffing is adjusted to respond to changes in attendance. In some international locations, staffing levels are also subject to local regulations.

Facility lease expense is primarily a fixed cost at the theatre level as most of our facility leases require a fixed monthly minimum rent payment. Certain leases are subject to percentage rent only, while others are subject to percentage rent in addition to their fixed monthly rent if a target annual performance level is achieved. Facility lease expense as a percentage of revenues is also affected by the number of theatres under operating leases, the number of theatres under capital and finance leases and the number of owned theatres.

Utilities and other costs include both fixed and variable costs and primarily consist of utilities, expenses for projection and sound equipment maintenance and monitoring, property taxes, janitorial costs, repairs, maintenance and security services.

General and administrative expenses are primarily fixed in nature and consist of the costs to support the overall management of the Company, including salaries and wages, incentive compensation and benefit costs for our corporate office personnel, facility expenses for our corporate offices, consulting fees, legal fees, audit fees, supplies and other costs that are not specifically associated with the operations of our theatres.

Critical Accounting Policies

We adopted ASC Topic 842 effective January 1, 2019, therefore, our lease accounting policy has been modified as discussed in Note 3 to our condensed consolidated financial statements.

31

Results of Operations

The following table sets forth, for the periods indicated, certain operating data and the percentage of revenues represented by certain items reflected in our condensed consolidated statements of income.

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2019			2018			2019			2018
Operating data (in millions):
Revenues
Admissions	$	454.5		$	427.6		$	1,371.1		$	1,389.1
Concession		289.5			264.1			886.1			831.2
Other		77.8			62.5			237.1			202.9
Total revenues	$	821.8		$	754.2		$	2,494.3		$	2,423.2
Cost of operations
Film rentals and advertising		254.9			230.1			759.7			758.2
Concession supplies		51.5			42.7			157.3			134.6
Salaries and wages		103.3			92.5			308.3			286.0
Facility lease expense		87.4			80.6			262.5			243.9
Utilities and other		123.9			112.9			357.2			337.9
General and administrative expenses		44.7			38.3			127.0			123.7
Depreciation and amortization		67.8			64.9			196.8			193.6
Impairment of long-lived assets		27.3			1.6			45.4			5.0
Loss on disposal of assets and other		2.5			7.9			8.1			28.7
Total cost of operations		763.3			671.5			2,222.3			2,111.6
Operating income	$	58.5		$	82.7		$	272.0		$	311.6
Operating data as a percentage of total revenues:
Revenues
Admissions		55.3	%		56.7	%		55.0	%		57.3	%
Concession		35.2	%		35.0	%		35.5	%		34.3	%
Other		9.5	%		8.3	%		9.5	%		8.4	%
Total revenues		100.0	%		100.0	%		100.0	%		100.0	%
Cost of operations (1)
Film rentals and advertising		56.1	%		53.8	%		55.4	%		54.6	%
Concession supplies		17.8	%		16.2	%		17.8	%		16.2	%
Salaries and wages		12.6	%		12.3	%		12.4	%		11.8	%
Facility lease expense		10.6	%		10.7	%		10.5	%		10.1	%
Utilities and other		15.1	%		15.0	%		14.3	%		13.9	%
General and administrative expenses		5.4	%		5.1	%		5.1	%		5.1	%
Depreciation and amortization		8.3	%		8.6	%		7.9	%		8.0	%
Impairment of long-lived assets		3.3	%		0.2	%		1.8	%		0.2	%
Loss on disposal of assets and other		0.3	%		1.0	%		0.3	%		1.2	%
Total cost of operations		92.9	%		89.0	%		89.1	%		87.1	%
Operating income		7.1	%		11.0	%		10.9	%		12.9	%
Average screen count (month end average)		6,084			6,019			6,064			5,990
Total revenues per average screen (dollars)	$	135,078		$	125,538		$	411,328		$	404,889

(1) All costs are expressed as a percentage of total revenues, except film rentals and advertising, which are expressed as a percentage of admissions revenues and concession supplies, which are expressed as a percentage of concession revenues.

32

Three months ended September 30, 2019 versus September 30, 2018

Revenues. Total revenues increased $67.6 million to $821.8 million for the three months ended September 30, 2019 (“third quarter of 2019”) from $754.2 million for the three months ended September 30, 2018 (“third quarter of 2018”). The table below, presented by reportable operating segment, summarizes our revenue performance and certain key performance indicators for the three months ended September 30, 2019 and 2018.

	U.S. Operating Segment							International Operating Segment												Consolidated
															Constant Currency (3)
	2019		2018		% Change			2019		2018		% Change			2019		% Change			2019		2018		% Change
Admissions revenues (1)	$	351.1	$	333.3		5.3	%	$	103.4	$	94.3		9.7	%	$	114.7		21.6	%	$	454.5	$	427.6		6.3	%
Concession revenues (1)	$	230.4	$	207.9		10.8	%	$	59.1	$	56.2		5.2	%	$	65.4		16.4	%	$	289.5	$	264.1		9.6	%
Other revenues (1)(2)	$	51.5	$	41.1		25.3	%	$	26.3	$	21.4		22.9	%	$	29.9		39.7	%	$	77.8	$	62.5		24.5	%
Total revenues (1)(2)	$	633.0	$	582.3		8.7	%	$	188.8	$	171.9		9.8	%	$	210.0		22.2	%	$	821.8	$	754.2		9.0	%
Attendance (1)		44.1		43.7		0.9	%		29.2		26.1		11.9	%							73.3		69.8		5.0	%
Average ticket price (1)	$	7.96	$	7.63		4.3	%	$	3.54	$	3.61		(1.9	)%	$	3.93		8.9	%	$	6.20	$	6.13		1.1	%
Concession revenues per patron (1)	$	5.22	$	4.76		9.7	%	$	2.02	$	2.15		(6.0	)%	$	2.24		4.2	%	$	3.95	$	3.78		4.5	%

(1) Revenues and attendance amounts in millions.  Average ticket price is calculated as admissions revenues divided by attendance.  Concession revenues per patron is calculated as concession revenues divided by attendance.  

(2) U.S. operating segment revenues include eliminations of intercompany transactions with the international operating segment. See Note 16 to our condensed consolidated financial statements.

(3) Constant currency revenue amounts, which are non-GAAP measurements, were calculated using the average exchange rate for the corresponding month for 2018. We translate the results of our international operating segment from local currencies into U.S. dollars using currency rates in effect at different points in time in accordance with U.S. GAAP. Significant changes in foreign currency exchange rates from one period to the next can result in meaningful variations in reported results.   We are providing constant currency amounts for our international operating segment to present a period-to-period comparison of business performance that excludes the impact of foreign currency fluctuations.

• U.S. Admissions revenues increased $17.8 million primarily due to a 4.3% increase in average ticket price. The increase in average ticket price was primarily due to price increases and ticket type mix and was partially offset by the impact of the deferral of admissions revenues for loyalty points issued. Concession revenues grew $22.5 million primarily due to a 9.7% increase in concession revenues per patron. Concession revenues per patron grew primarily due to incremental sales of traditional concession products, continued expansion of concession offerings and price increases. Other revenues increased $10.4 million primarily due to increases in transactional fees and promotional activity.  

• International. Admissions revenues grew $9.1 million as reported ($20.4 million in constant currency) primarily due to an 11.9% increase in attendance slightly offset by a 1.9% decrease in average ticket price (average ticket price increased 8.9% in constant currency).  Concession revenues grew $2.9 million as reported ($9.2 million in constant currency) primarily due to the 11.9% increase in attendance partially offset by a 6.0% decrease in concession revenues per patron (concession revenues per patron increased 4.2% in constant currency). Attendance increased due to the success of certain Hollywood blockbuster films in these markets and strong local product.  Average ticket price and concession revenues per patron decreased, as reported, primarily due to the impact of changes in foreign currency exchange rates in certain countries in which we operate, partially offset by price increases.  Other revenues grew $4.9 million as reported (increased $8.5 million in constant currency) due to increases in screen advertising, promotional activity and transactional fees as a result of the attendance increase, partially offset by the impact of changes in foreign currency exchange rates in certain countries in which we operate.

Cost of Operations. The table below summarizes our theatre operating costs (in millions) by reportable operating segment for the three months ended September 30, 2019 and 2018.

	U.S. Operating Segment				International Operating Segment						Consolidated
	2019		2018		2019		2018		Constant Currency (1) 2019		2019		2018
Film rentals and advertising	$	203.5	$	185.1	$	51.4	$	45.0	$	57.1	$	254.9	$	230.1
Concession supplies	$	38.6	$	31.2	$	12.9	$	11.5	$	14.4	$	51.5	$	42.7
Salaries and wages	$	83.2	$	73.2	$	20.1	$	19.3	$	22.6	$	103.3	$	92.5
Facility lease expense	$	64.5	$	61.1	$	22.9	$	19.5	$	24.8	$	87.4	$	80.6
Utilities and other	$	91.7	$	83.0	$	32.2	$	29.9	$	36.0	$	123.9	$	112.9

(1) Constant currency expense amounts, which are non-GAAP measurements were calculated using the average exchange rate for the corresponding month for 2018. We translate the results of our international operating segment from local currencies into U.S. dollars using currency rates in effect at different points in time in accordance with U.S. GAAP. Significant changes in foreign currency exchange rates from one period to the next can result in meaningful variations in reported results. We are providing constant currency amounts for our international operating segment to present a period-to-period comparison of business performance that excludes the impact of foreign currency fluctuations.

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• U.S. Film rentals and advertising costs were $203.5 million, or 58.0% of admissions revenues, for the third quarter of 2019 compared to $185.1 million, or 55.5% of admissions revenues, for the third quarter of 2018. Concession supplies expense was $38.6 million, or 16.8% of concession revenues, for the third quarter of 2019 compared to $31.2 million, or 15.0% of concession revenues, for the third quarter of 2018. The increase in the film rentals and advertising rate was primarily due to a higher concentration of blockbuster films during the third quarter of 2019 compared to the third quarter of 2018. The increase in the concessions supplies rate was driven by the mix of concession products sold.  

Salaries and wages increased to $83.2 million for the third quarter of 2019 from $73.2 million for the third quarter of 2018 primarily due to increases in minimum and other wage rates across many states in which we operate, as well as staffing for new theatres and varied in-theatre consumer initiatives. Facility lease expense increased to $64.5 million for the third quarter of 2019 from $61.1 million for the third quarter of 2018 primarily due to new theatres and a $2.9 million impact associated with the adoption of ASC Topic 842 (see Note 3 to the condensed consolidated financial statements for further discussion).  Utilities and other costs increased to $91.7 million for the third quarter of 2019 from $83.0 million for the third quarter of 2018 primarily due to increased third party ticket sales commissions, repairs and maintenance, warranty expenses, property taxes and janitorial expenses.

• International. Film rentals and advertising costs were $51.4 million ($57.1 million in constant currency), or 49.7% of admissions revenues, for the third quarter of 2019 compared to $45.0 million, or 47.7% of admissions revenues, for the third quarter of 2018. The increase in the film rentals and advertising rate was primarily due to the mix of films, increased promotion expenses and a decrease in virtual print fees received from distributors as the costs of digital projectors become fully reimbursed in certain countries. Concession supplies expense was $12.9 million ($14.4 million in constant currency), or 21.8% of concession revenues, for the third quarter of 2019 compared to $11.5 million, or 20.5% of concession revenues, for the third quarter of 2018. The increase in the concession supplies rate was primarily due to promotional activities and mix of premium concession products sold.

Salaries and wages increased to $20.1 million ($22.6 million in constant currency) for the third quarter of 2019 compared to $19.3 million for the third quarter of 2018.  The as reported increase was due to increased local currency wages that were primarily driven by inflation and new theatres, partially offset by the impact of changes in foreign currency exchange rates in certain countries in which we operate.  Facility lease expense increased to $22.9 million ($24.8 million in constant currency) for the third quarter of 2019 compared to $19.5 million for the third quarter of 2018. The as reported increase was driven by higher percentage rent associated with an increase in revenues, and a $2.7 million impact associated with the adoption of ASC Topic 842 (see Note 3 to the condensed consolidated financial statements for further discussion). These increases were partially offset by the impact of changes in foreign currency exchange rates in certain countries in which we operate. Utilities and other costs increased to $32.2 million ($36.0 million in constant currency) for the third quarter of 2019 compared to $29.9 million for the third quarter of 2018. The as reported increase was primarily due to increased commissions related to expanded screen advertising revenues and increased third party ticket sales commissions that were partly offset by the impact of changes in foreign currency exchange rates in certain countries in which we operate.

General and Administrative Expenses.  General and administrative expenses increased to $44.7 million for the third quarter of 2019 from $38.3 million for the third quarter of 2018. The increase was primarily due to increases in salaries and incentive compensation and increased cloud-based software costs and inflation, which were partially offset by the impact of changes in foreign currency exchange rates in certain countries in which we operate.

Depreciation and Amortization. Depreciation and amortization expense increased to $67.8 million during the third quarter of 2019 compared to $64.9 million during the third quarter of 2018. The increase was primarily due to theatre remodels and new theatres, offset by a $3.3 million impact from the adoption of ASC Topic 842 (see Note 3 to the condensed consolidated financial statements for further discussion).

Impairment of Long-Lived Assets.  We recorded asset impairment charges on assets held and used of $27.3 million during the third quarter of 2019 compared to $1.6 million during the third quarter of 2018. The long-lived asset impairment charges recorded during each of the periods presented were specific to theatres that were directly and individually impacted by increased competition, adverse changes in market demographics or adverse changes in the development or the conditions of the areas surrounding the theatre. Impairment charges for the third quarter of 2019 impacted four countries and impairment charges for the third quarter of 2018 impacted two countries.  See Note 12 to our condensed consolidated financial statements.

Loss on Disposal of Assets and Other. We recorded a loss on disposal of assets and other of $2.5 million during the third quarter of 2019 compared to $7.9 million during the third quarter of 2018. Activity for the third quarter of 2019 and 2018 was primarily due to the retirement of assets related to theatre remodels.

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Interest Expense.  Interest costs incurred, including amortization of debt issue costs, were $25.0 million during the third quarter of 2019 compared to $27.1 million during the third quarter of 2018. The decrease was primarily due to a $2.5 million impact from the adoption of ASC Topic 842 (see Note 3 to the condensed consolidated financial statements for further discussion).

Distributions from NCM.  We recorded distributions from NCM of $2.5 million during the third quarter of 2019 compared to $2.4 million recorded during the third quarter of 2018, which were in excess of the carrying value of our Tranche 1 investment. See Note 8 to our condensed consolidated financial statements.  

Interest expense – NCM.  We recorded non-cash interest expense of $4.7 million for the third quarter of 2019 compared to $5.0 million recorded during the third quarter of 2018, related to the significant financing component associated with certain of our agreements with NCM.  See Notes 4 and 8 to our condensed consolidated financial statements for further discussion.  

Equity in Income of Affiliates. We recorded equity in income of affiliates of $15.1 million during the third quarter of 2019 compared to $14.2 million during the third quarter of 2018. See Notes 8 and 9 to our condensed consolidated financial statements for information about our equity investments.

Income Taxes. Income tax expense of $14.1 million was recorded for the third quarter of 2019 compared to $16.2 million recorded for the third quarter of 2018. The effective tax rate was approximately 30.5% for the third quarter of 2019 compared to 24.2% for the third quarter of 2018. Income tax provisions for interim (quarterly) periods are based on estimated annual income tax rates and are adjusted for the effects of significant, infrequent or unusual items (i.e. discrete items) occurring during the interim period. As a result, the interim rate may vary significantly from the normalized annual rate.

Nine months ended September 30, 2019 versus September 30, 2018

Revenues. Total revenues increased $71.1 million to $2,494.3 million for the nine months ended September 30, 2019 (“2019 period”) from $2,423.2 million for the nine months ended September 30, 2018 (“2018 period”). The table below, presented by reportable operating segment, summarizes our revenue performance and certain key performance indicators for the nine months ended September 30, 2019 and 2018.

	U.S. Operating Segment							International Operating Segment												Consolidated
															Constant Currency (3)
	2019		2018		% Change			2019		2018		% Change			2019		% Change			2019		2018		% Change
Admissions revenues (1)	$	1,066.9	$	1,091.5		(2.3	)%	$	304.2	$	297.6		2.2	%	$	357.3		20.1	%	$	1,371.1	$	1,389.1		(1.3	)%
Concession revenues (1)	$	704.7	$	661.3		6.6	%	$	181.4	$	169.9		6.8	%	$	210.6		24.0	%	$	886.1	$	831.2		6.6	%
Other revenues (1)(2)	$	159.2	$	134.9		18.0	%	$	77.9	$	68.0		14.6	%	$	94.2		38.5	%	$	237.1	$	202.9		16.9	%
Total revenues (1)(2)	$	1,930.8	$	1,887.7		2.3	%	$	563.5	$	535.5		5.2	%	$	662.1		23.6	%	$	2,494.3	$	2,423.2		2.9	%
Attendance (1)		132.9		138.9		(4.3	)%		82.9		75.8		9.4	%							215.8		214.7		0.5	%
Average ticket price (1)	$	8.03	$	7.86		2.2	%	$	3.67	$	3.93		(6.6	)%	$	4.31		9.7	%	$	6.35	$	6.47		(1.9	)%
Concession revenues per patron (1)	$	5.30	$	4.76		11.3	%	$	2.19	$	2.24		(2.2	)%	$	2.54		13.4	%	$	4.11	$	3.87		6.2	%

(1) Revenues and attendance amounts in millions.  Average ticket price is calculated as admissions revenues divided by attendance.  Concession revenues per patron is calculated as concession revenues divided by attendance.  

(2) U.S. operating segment revenues include eliminations of intercompany transactions with the international operating segment. See Note 16 to our condensed consolidated financial statements.

(3) Constant currency revenue amounts, which are non-GAAP measurements, were calculated using the average exchange rate for the corresponding month for 2018. We translate the results of our international operating segment from local currencies into U.S. dollars using currency rates in effect at different points in time in accordance with U.S. GAAP. Significant changes in foreign currency exchange rates from one period to the next can result in meaningful variations in reported results.   We are providing constant currency amounts for our international operating segment to present a period-to-period comparison of business performance that excludes the impact of foreign currency fluctuations.

• U.S. Admissions revenues decreased $24.6 million primarily due to a 4.3% decrease in attendance slightly offset by a 2.2% increase in average ticket price. The decrease in attendance was due to the relative consumer appeal of films during the 2019 period compared to the 2018 period. The increase in average ticket price was primarily due to price increases, partially offset by the impact of the deferral of admissions revenues for loyalty points issued. Concession revenues grew $43.4 million primarily due to an 11.3% increase in concession revenues per patron, partially offset by the 4.3% decline in attendance. Concession revenues per patron grew primarily due to incremental sales of traditional concession products, continued expansion of concession offerings and price increases. Other revenues increased $24.3 million due to increases in transactional fees and promotional activity.  

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• International. Admissions revenues increased $6.6 million as reported (increased $59.7 million in constant currency) primarily due to a 9.4% increase in attendance, partially offset by a 6.6% decrease in average ticket price (average ticket price increased 9.7% in constant currency). Concession revenues grew $11.5 million as reported ($40.7 million in constant currency) primarily due to the 9.4% increase in attendance, partially offset by a 2.2% decrease in concession revenues per patron (concession revenues per patron increased 13.4% in constant currency). Attendance increased due to the consumer appeal of films during the 2019 period compared to the 2018 period. Average ticket price and concession revenues per patron decreased, as reported, primarily due to the impact of changes in foreign currency exchange rates in certain countries in which we operate.  Other revenues grew $9.9 million as reported ($26.2 million in constant currency) due to increases in screen advertising and promotional revenues due to the attendance increase, partially offset by the impact of changes in foreign currency exchange rates in certain countries in which we operate.

Cost of Operations. The table below summarizes our theatre operating costs (in millions) by reportable operating segment for the nine months ended September 30, 2019 and 2018.

	U.S. Operating Segment				International Operating Segment						Consolidated
	2019		2018		2019		2018		Constant Currency (1) 2019		2019		2018
Film rentals and advertising	$	610.3	$	616.7	$	149.4	$	141.5	$	175.6	$	759.7	$	758.2
Concession supplies	$	117.6	$	98.1	$	39.7	$	36.5	$	46.2	$	157.3	$	134.6
Salaries and wages	$	247.4	$	224.3	$	60.9	$	61.7	$	72.5	$	308.3	$	286.0
Facility lease expense	$	194.1	$	183.1	$	68.4	$	60.8	$	77.8	$	262.5	$	243.9
Utilities and other	$	260.8	$	245.7	$	96.4	$	92.2	$	113.8	$	357.2	$	337.9

(1) Constant currency expense amounts, which are non-GAAP measurements were calculated using the average exchange rate for the corresponding month for 2018. We translate the results of our international operating segment from local currencies into U.S. dollars using currency rates in effect at different points in time in accordance with U.S. GAAP. Significant changes in foreign currency exchange rates from one period to the next can result in meaningful variations in reported results. We are providing constant currency amounts for our international operating segment to present a period-to-period comparison of business performance that excludes the impact of foreign currency fluctuations.

• U.S. Film rentals and advertising costs were $610.3 million, or 57.2% of admissions revenues, for the 2019 period compared to $616.7 million, or 56.5% of admissions revenues, for the 2018 period. Concession supplies expense was $117.6 million, or 16.7% of concession revenues, for the 2019 period compared to $98.1 million, or 14.8% of concession revenues, for the 2018 period. The increase in the concessions supplies rate was driven by the mix of concession products sold.

Salaries and wages increased to $247.4 million for the 2019 period from $224.3 million for the 2018 period primarily due to increases in minimum and other wage rates across many states in which we operate, as well as staffing for new theatres and varied in-theatre consumer initiatives. Facility lease expense increased to $194.1 million for the 2019 period from $183.1 million for the 2018 period primarily due to new theatres and an increase of $8.3 million from the impact of the adoption of ASC Topic 842 (see Note 3 to the condensed consolidated financial statements for further discussion).  Utilities and other costs increased to $260.8 million for the 2019 period from $245.7 million for the 2018 period primarily due to increases in credit card processing fees, property taxes, janitorial costs and utilities costs.

• International. Film rentals and advertising costs were $149.4 million ($175.6 million in constant currency), or 49.1% of admissions revenues, for the 2019 period compared to $141.5 million, or 47.5% of admissions revenues, for the 2018 period. The increase in the film rentals and advertising rate was primarily due to the mix of films, increased promotion expenses and a decrease in virtual print fees received from distributors as the costs of digital projectors become fully reimbursed in certain countries. Concession supplies expense was $39.7 million ($46.2 million in constant currency), or 21.9% of concession revenues, for the 2019 period compared to $36.5 million, or 21.5% of concession revenues, for the 2018 period.  

Salaries and wages decreased to $60.9 million (increased to $72.5 million in constant currency) for the 2019 period compared to $61.7 million for the 2018 period.  The as reported decrease was due to the impact of changes in foreign currency exchange rates in certain countries in which we operate, partially offset by increased local currency wages that were driven by inflation and new theatres.  Facility lease expense increased to $68.4 million (increased to $77.8 million in constant currency) for the 2019 period compared to $60.8 million for the 2018 period.  The as reported increase was due to higher percentage rent due to an increase in revenues in local currency, incremental base rent from new theatres and an $8.1 million impact associated with the adoption of ASC Topic 842 (see Note 3 to the condensed consolidated financial statements for further discussion).  These increases were partially offset by the impact of changes in foreign currency exchange rates in certain countries in which we operate.  Utilities and other costs increased to $96.4 million (increased to $113.8 million in constant currency) for the 2019 period compared to $92.2 million for the 2018 period.  The as reported increase was primarily due to increased commissions as a result of increased screen advertising revenues, increased credit card processing fees and increased utilities costs that were partially offset by the impact of changes in foreign currency exchange rates in certain countries in which we operate.

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General and Administrative Expenses.  General and administrative expenses increased to $127.0 million for the 2019 period from $123.7 million for the 2018 period. The increase was primarily due to increases in salaries and wages, partially offset by the impact of changes in foreign currency exchange rates in certain countries in which we operate.

Depreciation and Amortization. Depreciation and amortization expense increased to $196.8 million during the 2019 period compared to $193.6 million during the 2018 period. The increase was primarily due to theatre remodels and new theatres, offset by a $9.8 million impact from the adoption of ASC Topic 842 (see Note 3 to the condensed consolidated financial statements for further discussion).

Impairment of Long-Lived Assets.  We recorded asset impairment charges on assets held and used of $45.4 million during the 2019 period compared to $5.0 million during the 2018 period. The long-lived asset impairment charges recorded during each of the periods presented were specific to theatres that were directly and individually impacted by increased competition, adverse changes in market demographics or adverse changes in the development or the conditions of the areas surrounding the theatre. Impairment charges for the 2019 period impacted seven countries and impairment charges for the 2018 period impacted three countries.  See Note 12 to our condensed consolidated financial statements.

Loss on Disposal of Assets and Other. We recorded a loss on disposal of assets and other of $8.1 million during the 2019 period compared to $28.7 million during the 2018 period. Activity for the 2019 period was primarily due to the retirement of assets related to theatre remodels.  Activity for the 2018 period was primarily due to the retirement of assets related to theatre remodels and the accrual of a reserve for outstanding litigation (see Note 18 to the condensed consolidated financial statements).  

Interest Expense.  Interest costs incurred, including amortization of debt issue costs, were $75.0 million during the 2019 period compared to $82.7 million during the 2018 period.  The decrease was primarily due to a $7.6 million impact from the adoption of ASC Topic 842 (see Note 3 to the condensed consolidated financial statements for further discussion).

Distributions from NCM.  We recorded distributions from NCM of $9.2 million during the 2019 period compared to $12.2 million recorded during the 2018 period, which were in excess of the carrying value of our Tranche 1 investment. See Note 8 to our condensed consolidated financial statements.  

Interest expense – NCM.  We recorded non-cash interest expense of $14.2 million for the 2019 period compared to $14.9 million recorded during the 2018 period, related to the significant financing component associated with certain of our agreements with NCM.  See Notes 4 and 8 to our condensed consolidated financial statements for further discussion.  

Equity in Income of Affiliates. We recorded equity in income of affiliates of $34.0 million during the 2019 period compared to $29.2 million during the 2018 period. See Notes 8 and 9 to our condensed consolidated financial statements for information about our equity investments.

Income Taxes. Income tax expense of $64.2 million was recorded for the 2019 period compared to $59.6 million recorded for the 2018 period. The effective tax rate was approximately 27.8% for the 2019 period compared to 23.4% for the 2018 period.  The effective tax rate for the 2018 period was impacted by a credit to tax expense of $7.1 million related to the settlement of audits in the non-U.S. tax jurisdiction of Chile.  Income tax provisions for interim (quarterly) periods are based on estimated annual income tax rates and are adjusted for the effects of significant, infrequent or unusual items (i.e. discrete items) occurring during the interim period. As a result, the interim rate may vary significantly from the normalized annual rate.

Liquidity and Capital Resources

Operating Activities

We primarily collect our revenues in cash, mainly through box office receipts and the sale of concessions. Our revenues are received in cash prior to the payment of related expenses, therefore we have an operating “float” and historically have not required traditional working capital financing. Cash provided by operating activities was $397.2 million for the nine months ended September 30, 2019 compared to $350.1 million for the nine months ended September 30, 2018. The increase in cash provided by operating activities was primarily due to increased revenues and due to the level and timing of payments to suppliers during each respective period and the impact of the adoption of ASC Topic 842 (see Note 3 to the condensed consolidated financial statements for further discussion).

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Investing Activities

Our investing activities have been principally related to the development, remodel and acquisition of theatres. New theatre openings and acquisitions historically have been financed with internally generated cash and by debt financing, including borrowings under our senior secured credit facility. Cash used for investing activities was $196.3 million for the nine months ended September 30, 2019 compared to $352.5 million for the nine months ended September 30, 2018.  The higher level of cash used for investing activities during the nine months ended September 30, 2018 was primarily due to the $78.4 million acquisition of NCM common units and a higher level of capital expenditures, primarily driven by the timing and number of recliner conversions.  

Capital expenditures for the nine months ended September 30, 2019 and 2018 were as follows (in millions):

Period	New Theatres		Existing Theatres		Total
Nine Months Ended September 30, 2019	$	54.7	$	131.8	$	186.5
Nine Months Ended September 30, 2018	$	52.5	$	193.5	$	246.0

We operated 548 theatres with 6,082 screens worldwide as of September 30, 2019.  Theatres and screens acquired, built and closed during the nine months ended September 30, 2019 were as follows:

	January 1, 2019		Built		Acquired		Closed		September 30, 2019
U.S
Theatres		341		3		2		2		344
Screens		4,586		34		30		20		4,630
International
Theatres		205		1	─			2		204
Screens		1,462		4	─			14		1,452
Worldwide
Theatres		546		4		2		4		548
Screens		6,048		38		30		34		6,082

As of September 30, 2019, we had the following signed commitments (costs in millions):

	Theatres		Screens		Estimated Cost
Remainder of 2019
U.S.		1		12	$	64
International		6		51	$	17
Total		7		63
Subsequent to 2019
U.S.		13		154	$	43
International		9		60	$	35
Total		22		214
Total commitments at September 30, 2019		29		277	$	159

Actual expenditures for continued theatre development, remodels and acquisitions are subject to change based upon the availability of attractive opportunities.  We plan to fund capital expenditures for our continued development with cash flow from operations, borrowings under our senior secured credit facility, and proceeds from debt issuances, sale leaseback transactions and/or sales of excess real estate.

Financing Activities

Cash used for financing activities was $139.1 million for the nine months ended September 30, 2019 compared to $144.5 million for the nine months ended September 30, 2018.  The decrease was primarily due to the payment of debt issuance costs associated with the amendment of our senior secured credit facility during the nine months ended September 30, 2018 and the impact of the adoption of ASC Topic 842 (see Note 3 to the condensed consolidated financial statements for further discussion), partially offset by an increase in the quarterly cash dividend from $0.32 to $0.34 per share of common stock.  

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We, at the discretion of the board of directors and subject to applicable law, anticipate paying regular quarterly dividends on our common stock. The amount, if any, of the dividends to be paid in the future will depend upon our then available cash balance, anticipated cash needs, overall financial condition, loan agreement restrictions as discussed below, future prospects for earnings and cash flows, as well as other relevant factors.  

We may from time to time, subject to compliance with our debt instruments, purchase our debt securities on the open market depending upon the availability and prices of such securities. Long-term debt consisted of the following as of September 30, 2019 (in millions):

Cinemark USA, Inc. term loan		648.0
Cinemark USA, Inc. 5.125% senior notes due 2022		400.0
Cinemark USA, Inc. 4.875% senior notes due 2023		755.0
Other		1.4
Total long-term debt	$	1,804.4
Less current portion		8.0
Subtotal long-term debt, less current portion	$	1,796.4
Less:  Debt discounts and debt issuance costs, net of accumulated amortization		24.7
Long-term debt, less current portion, net of debt issuance costs	$	1,771.7

As of September 30, 2019, we had $98.8 million in available borrowing capacity on our revolving credit line.

Contractual Obligations

There have been no material changes in our contractual obligations previously disclosed in “Liquidity and Capital Resources” in our Annual Report on Form 10-K for the year ended December 31, 2018 filed February 28, 2019.

Off-Balance Sheet Arrangements

Other than operating leases and purchase commitments disclosed in our Annual Report on Form 10-K for the year ended December 31, 2018 filed February 28, 2019, we do not have any off-balance sheet arrangements.

Senior Secured Credit Facility

Cinemark USA, Inc. has a senior secured credit facility that includes a $700.0 million term loan, with a maturity date of March 2025, and a $100.0 million revolving credit line, with a maturity date of December 2022 (collectively referred to as the “Credit Agreement”).

On March 29, 2018, Cinemark USA, Inc., amended the Credit Agreement to extend the maturity of the term loan to March 29, 2025, reduce the rate at which the term loan bears interest by 0.25% and to reduce the amount of real property required to be mortgaged to secure the loans. Under the amended Credit Agreement, quarterly principal payments of $1.6 million are due on the term loan through December 31, 2024, with a final principal payment of $613.4 million due on March 29, 2025.

Interest on the term loan accrues at Cinemark USA, Inc.’s option at: (A) the base rate equal to the greater of (1) the US “Prime Rate” as quoted in The Wall Street Journal or if no such rate is quoted therein, in a Federal Reserve Board statistical release, (2) the federal funds effective rate plus 0.50%, and (3) a one-month Eurodollar-based rate plus 1.0%, plus, in each case, a margin of 0.75% per annum, or (B) a Eurodollar-based rate for a period of 1, 2, 3, 6, 9 or 12 months plus a margin of 1.75% per annum. Interest on the revolving credit line accrues, at our option, at: (A) a base rate equal to the greater of (1) the US “Prime Rate” as quoted in The Wall Street Journal or if no such rate is quoted therein, in a Federal Reserve Board statistical release, (2) the federal funds effective rate plus 0.50%, and (3) a one-month Eurodollar-based rate plus 1.0%, plus, in each case, a margin that ranges from 0.50% to 1.25% per annum, or (B) a Eurodollar-based rate for a period of 1, 2, 3, 6, 9 or 12 months plus a margin that ranges from 1.50% to 2.25% per annum. The margin of the revolving credit line is determined by the consolidated net senior secured leverage ratio as defined in the Credit Agreement.  

Cinemark USA, Inc.’s obligations under the Credit Agreement are guaranteed by Cinemark Holdings, Inc. and certain of Cinemark USA, Inc.’s domestic subsidiaries and are secured by mortgages on certain fee and leasehold properties and security interests in substantially all of Cinemark USA, Inc.’s and the guarantors’ personal property, including, without limitation, pledges of all of Cinemark USA, Inc.’s capital stock, all of the capital stock of certain of Cinemark USA, Inc.’s domestic subsidiaries and 65% of the voting stock of certain of its foreign subsidiaries.

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The Credit Agreement contains usual and customary negative covenants for agreements of this type, including, but not limited to, restrictions on Cinemark USA, Inc.’s ability, and in certain instances, its subsidiaries’ and our ability, to consolidate or merge or liquidate, wind up or dissolve; substantially change the nature of its business; sell, transfer or dispose of assets; create or incur indebtedness; create liens; pay dividends or repurchase stock; and make capital expenditures and investments. If Cinemark USA, Inc. has borrowings outstanding on the revolving credit line, it is required to satisfy a consolidated net senior secured leverage ratio covenant as defined in the Credit Agreement, not to exceed 5.0 to 1. 

The dividend restriction contained in the Credit Agreement prevents the Company and any of its subsidiaries from paying a dividend or otherwise distributing cash to its stockholders unless (1) the Company is not in default, and the distribution would not cause Cinemark USA, Inc. to be in default, under the Credit Agreement; and (2) the aggregate amount of certain dividends, distributions, investments, redemptions and capital expenditures made since December 18, 2012, including dividends declared by the board of directors, is less than the sum of (a) the aggregate amount of cash and cash equivalents received by Cinemark Holdings, Inc. or Cinemark USA, Inc. as common equity since December 18, 2012, (b) Cinemark USA, Inc.’s consolidated EBITDA minus 1.75 times its consolidated interest expense, each as defined in the Credit Agreement, and (c) certain other defined amounts.

We have three interest rate swap agreements that are used to hedge a portion of the interest rate risk associated with the variable interest rates on the term loan outstanding under the Credit Agreement. See Note 6 of our condensed consolidated financial statements for discussion of the interest rate swaps.

At September 30, 2019, there was $648.0 million outstanding under the term loan and no borrowings outstanding under the $100.0 million revolving credit line. Cinemark USA, Inc. had $98.8 million in available borrowing capacity on the revolving credit line. The average interest rate on outstanding term loan borrowings under the Credit Agreement at September 30, 2019 was approximately 4.3% per annum.

Cinemark USA, Inc. 5.125% Senior Notes

On December 18, 2012, Cinemark USA, Inc. issued $400.0 million aggregate principal amount of 5.125% Senior Notes due 2022, at par value (the “5.125% Senior Notes”). Interest on the 5.125% Senior Notes is payable on June 15 and December 15 of each year. The 5.125% Senior Notes mature on December 15, 2022.

The indenture to the 5.125% Senior Notes contains covenants including limitations on the amount of dividends that could be paid by Cinemark USA, Inc. As of September 30, 2019, Cinemark USA, Inc. could have distributed up to approximately $2,357.7 million to its parent company and sole stockholder, Cinemark Holdings, Inc., under the terms of the indenture to the 5.125% Senior Notes, subject to its available cash and other borrowing restrictions outlined in the indenture. The indenture allows Cinemark USA, Inc. to incur additional indebtedness if it satisfies the coverage ratio specified in the indenture, after giving effect to the incurrence of the additional indebtedness, and in certain other circumstances. The required minimum coverage ratio is 2 to 1.

Cinemark USA, Inc. 4.875% Senior Notes

On May 24, 2013, Cinemark USA, Inc. issued $530.0 million aggregate principal amount of 4.875% Senior Notes due 2023, at par value (the “4.875% Senior Notes”). On March 21, 2016, Cinemark USA, Inc. issued an additional $225.0 million aggregate principal amount of the 4.875% Senior Notes at 99.0% of the principal amount plus accrued and unpaid interest from December 1, 2015. These additional notes have identical terms, other than the issue date, the issue price and the first interest payment date, and constitute part of the same series as the Company’s existing 4.875% Senior Notes.  Interest on the 4.875% Senior Notes is payable on June 1 and December 1 of each year.  The 4.875% Senior Notes mature on June 1, 2023.  

The indenture to the 4.875% Senior Notes contains covenants that include limitations on the amount of dividends that Cinemark USA, Inc. can pay. The indenture allows Cinemark USA, Inc. to incur additional indebtedness if it satisfies the coverage ratio specified in the indenture, after giving effect to the incurrence of the additional indebtedness, and in certain other circumstances. The required minimum coverage ratio is 2 to 1.

Covenant Compliance

As of September 30, 2019, we believe we were in full compliance with all agreements, including all related covenants, governing our outstanding debt.

40

Item 3. Quantitative and Qualitative Disclosures About Market Risk

We have exposure to financial market risks, including changes in interest rates, foreign currency exchange rates and other relevant market prices.  

Interest Rate Risk

We are currently party to a variable rate debt facility.  An increase or decrease in interest rates would affect our interest expense relating to our variable rate debt. At September 30, 2019, we had an aggregate of approximately $198.0 million of variable rate debt outstanding.  Based on the interest rates in effect on the variable rate debt outstanding at September 30, 2019, a 100 basis point increase in market interest rates would increase our annual interest expense by approximately $2.0 million.

The table below provides information about our fixed rate and variable rate long-term debt agreements as of September 30, 2019:

	Expected Maturity for the Twelve-Month Periods Ending September 30,																Average
	(in millions)																Interest
	2020		2021		2022		2023		2024		Thereafter		Total		Fair Value		Rate
Fixed rate	$	1.4	$	—	$	—	$	1,155.0	$	—	$	450.0	$	1,606.4	$	1,626.4		4.8	%
Variable rate		6.6		6.6		6.6		6.6		6.6		165.0		198.0		198.7		3.8	%
Total debt	$	8.0	$	6.6	$	6.6	$	1,161.6	$	6.6	$	615.0	$	1,804.4	$	1,825.1

Interest Rate Swap Agreements

All of our current interest rate swap agreements qualify for cash flow hedge accounting.  The fair values of the interest rate swaps are recorded on our consolidated balance sheet as an asset or liability with the related gains or losses reported as a component of accumulated other comprehensive loss.  See Note 6 to the condensed consolidated financial statements for further discussion of the interest rate swap agreements.

Foreign Currency Exchange Rate Risk

Other than the devaluation of the Argentine peso, discussed in Note 14 to the condensed consolidated financial statements, there have been no material changes in foreign currency exchange rate risk previously disclosed in “Quantitative and Qualitative Disclosures About Market Risk” in our Annual Report on Form 10-K for the year ended December 31, 2018 filed February 28, 2019.

Item 4. Controls and Procedures

Evaluation of the Effectiveness of Disclosure Controls and Procedures

As of September 30, 2019, we carried out an evaluation required by the Exchange Act, under the supervision and with the participation of our principal executive officer and principal financial officer, of the effectiveness of the design and operation of our disclosure controls and procedures, as defined in Rule 13a-15(e) of the Exchange Act. Based on this evaluation, our principal executive officer and principal financial officer concluded that, as of September 30, 2019, our disclosure controls and procedures were effective to provide reasonable assurance that information required to be disclosed by us in the reports that we file or submit under the Exchange Act is recorded, processed, summarized, and reported within the time periods specified in the SEC’s rules and forms and were effective to provide reasonable assurance that such information is accumulated and communicated to our management, including our principal executive officer and principal financial officer, as appropriate to allow timely decisions regarding required disclosures.

Changes in Internal Control Over Financial Reporting

There have been no changes in our internal control over financial reporting identified in connection with the evaluation required by paragraph (d) of Exchange Act Rules 13a-15 that occurred during the quarter ended September 30, 2019 that materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

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PART II - OTHER INFORMATION

Item 1. Legal Proceedings

Other than the recent developments discussed in Note 18, there have been no material changes from legal proceedings previously reported under “Business – Legal Proceedings” in our Annual Report on Form 10-K for the year ended December 31, 2018 filed February 28, 2019.

Item 1A. Risk Factors

There have been no material changes from risk factors previously disclosed in “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2018 filed February 28, 2019.

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Item 6. Exhibits

*10.1	First Amendment to Amended and Restated Exhibitor Services Agreement between National Cinemedia, LLC and Cinemark USA, Inc., dated as of September 17, 2019.
*31.1	Certification of Mark Zoradi, Chief Executive Officer, pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
*31.2	Certification of Sean Gamble, Chief Financial Officer, pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
*32.1	Certification of Mark Zoradi, Chief Executive Officer, pursuant to 18 U.S.C. Section 1350, as added by Section 906 of the Sarbanes-Oxley Act of 2002.
*32.2	Certification of Sean Gamble, Chief Financial Officer, pursuant to 18 U.S.C. Section 1350, as added by Section 906 of the Sarbanes-Oxley Act of 2002.
* 101	The following material from Cinemark Holdings, Inc.’s Form 10-Q for the quarter ended September 30, 2019, formatted in iXBRL (Inline eXtensible Business Reporting Language), filed herewith: (i) the Condensed Consolidated Balance Sheets, (ii) the Condensed Consolidated Statements of Income, (iii) the Condensed Consolidated Statements of Comprehensive Income, (iv) the Condensed Consolidated Statements of Cash Flows and (v) the Notes to Condensed Consolidated Financial Statements.
* 104	Cover Page Interactive Data File (formatted as inline XBRL and contained in Exhibit 101)

* filed herewith.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

		CINEMARK HOLDINGS, INC.
		Registrant
DATE:	November 5, 2019
		/s/ Mark Zoradi
		Mark Zoradi
		Chief Executive Officer
		/s/ Sean Gamble
		Sean Gamble
		Chief Financial Officer

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EX-10.1

Exhibit 10.1

FINAL

NOTE: CERTAIN IDENTIFIED INFORMATION HAS BEEN EXCLUDED FROM THIS EXHIBIT BECAUSE IT IS NOT MATERIAL AND WOULD LIKELY CAUSE COMPETITIVE HARM TO THE REGISTRANT IF PUBLICLY DISCLOSED. “[***]” INDICATES THAT INFORMATION HAS BEEN REDACTED.

FIRST AMENDMENT

TO

AMENDED AND RESTATED EXHIBITOR SERVICES AGREEMENT

This First Amendment to Amended and Restated Exhibitor Services Agreement (this “Amendment”), dated September 17, 2019 (the “Amendment Effective Date”), is by and between National CineMedia, LLC (“LLC”) and Cinemark USA, Inc. (“Cinemark”). Capitalized terms used but not defined herein shall have the respective meanings given to them in the Amended and Restated Exhibitor Services Agreement between LLC and Cinemark, dated as of February 13, 2007 and amended and restated as of December 26, 2013 (the “ESA”).

WHEREAS, the Parties desire to amend the ESA; and

WHEREAS, the Board of Directors of National CineMedia, Inc. (“NCM Parent”) and the Transaction Review Committee of NCM Parent have deemed this Amendment to be in the best interest of NCM Parent and its shareholders.

NOW, THEREFORE, in consideration of the foregoing and the mutual covenants and conditions set forth below, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties hereby agree as follows:

1. Definitions.

A. The following definitions are hereby added to the ESA and inserted alphabetically into Section 1.01 thereof:

“Aggregate Post-Showtime Revenue” means, for the applicable measurement period, the total revenue, in the form of cash and non-cash consideration, payable to LLC for Advertising Services displayed in any Post-Showtime Inventory, excluding revenue  payable to LLC related to (i) Event Sponsorships, (ii) Advertising Services provided to third parties that are not Founding Members, (iii) Advertising Services provided to Founding Members outside the provisions of this Agreement pursuant to a written agreement between LLC and such Founding Members, (iv) Inventory displayed prior to Showtime, and (v) Trailer Pod Inventory.

“Aggregate Trailer Pod Revenue” means, for the applicable measurement period, the total revenue, in the form of cash, payable to LLC for Advertising Services displayed in any Trailer Pod Inventory, excluding revenue payable to LLC related to (i) Event Sponsorships, (ii) Advertising Services provided to third parties that are not Founding Members, (iii) Advertising Services provided to Founding Members outside the provisions of this Agreement pursuant to a written agreement between LLC and such Founding Members, (iv) Inventory displayed prior to Showtime, and (v) Post-Showtime Inventory.

[***].

“Beverage Slot” means the Inventory sold to Cinemark pursuant to Section 4.06(a).

“Cinemark Pro-Rated Platinum Revenue Minimum” has the meaning assigned to it in Schedule 1.

“Co-Branded Slot” has the meaning assigned to it in Section 4.06(a).

“Exhibitor” means Cinemark or any other motion picture theatre exhibitor which participates in LLC’s Advertising Services.

[***].

“Platinum Contract Year” means the time period of November 1 of each year to October 31 of the following year.

“Platinum Revenue Minimum” has the meaning assigned to it in Section 4.01(b)(i)(B)(I)(8)(ii).

“Platinum Spot” has the meaning assigned to it in Section 4.01(b)(i)(B)(I)(5).

“Post-Showtime Content Revenue” has the meaning assigned to it in Section 4.03A.

“Post-Showtime Inventory” has the meaning assigned to it in Section 4.01(b)(i)(B)(I)(4).

“Post-Showtime Theatre Access Fees” has the meaning assigned to it in Schedule 1.

“Pre-Feature Closing” has the meaning assigned to it in Section 4.05(a).

“Pre-Showtime Reduction” has the meaning assigned to it in Section 4.01(b)(i)(B)(I)(2).

“Pre-Showtime Trailer” is a Trailer up to two and a half (2.5) minutes in length to be displayed by LLC, at Cinemark’s option, on Cinemark’s behalf in the Pre-Feature Program beginning approximately six (6) minutes prior to Showtime and ending approximately three and a half (3.5) minutes prior to Showtime.

“Trailer Pod Fees” has the meaning assigned to it in Section 2.05(b)(i)(C).

“Trailer Pod Inventory” means, collectively, the Platinum Spot [***].

“Trailer Position” means a specified Inventory slot directly preceding the applicable Trailer. For example, “Third Trailer Position” means a slot directly preceding the third Trailer prior to the feature film.

[***].

B. The definition of “Aggregate Advertising Revenue” in Article 1 of the ESA is hereby deleted and replaced with the following:

“Aggregate Advertising Revenue” means, for the applicable measurement period, the total revenue, in the form of cash and non-cash consideration, payable to LLC for Advertising Services, excluding revenue payable to LLC related to (i) Event Sponsorships, (ii) Advertising Services provided to third parties that are not Founding Members, (iii) Advertising Services provided to Founding Members outside the provisions of this Agreement pursuant to a written agreement between LLC and such Founding Members, (iv) Post-Showtime Inventory, and (v) Trailer Pod Inventory.

C. The definition of “Beverage Agreement” in Article 1 of the ESA is hereby deleted and replaced with the following:

“Beverage Agreement” means  the   Marketing,   Advertising   and   Brand   Presence Agreement by and between Coca-Cola North America, a division of The Coca-Cola Company, and Cinemark, dated as of January 1, 2009 and all exhibits and amendments  thereto which is in effect on the effective date of the First Amendment to the Agreement, as such agreement may be amended from time to time, and any subsequent agreements entered into by Cinemark and  its  beverage  concessionaires  at  the  expiration  or  termination  of  the  agreement referenced above.

D. The definition of “Pre-Feature Program” in Article 1 of the ESA is hereby deleted and replaced with the following:

“Pre-Feature Program” means a program of digital content of between twenty (20) and thirty (30) minutes in length that is distributed by LLC through the Digital Content Network for exhibition in Digitized Theatres prior to and/or after Showtime (as further described in Section 4.01(b)) of a feature film or other programming or event (other than a Digital Programming Event) or that is distributed non-digitally by some other means, including DVD, for exhibition prior to and/or after Showtime of a feature film or other programming or event (other than a Digital Programming Event) in Non-Digitized Theatres. For the avoidance of doubt, the definition of Pre-Feature Program shall not include any Digital Programming Event Pre-Feature Program.

E. The definition of “Trailer” in Article 1 of the ESA is hereby deleted and replaced with the following:

“Trailer” means a promotion secured by Cinemark, directly or indirectly, for a feature film or other programming, other than a Digital Programming Event, that is exhibited in the Theatres either as the Pre-Showtime Trailer or after Showtime.

2. Theatre Access Fees. The heading of Section 2.05(b) and Sections 2.05(b)(i) - (ii) of the ESA are hereby deleted and replaced with the following:

(b)Fees: Theatre Access Fees, Post-Showtime Theatre Access Fees and Trailer Pod Fees.

(i)Calculation.

(A)Theatre Access Fees. In consideration for utilization of the Theatres pre-Showtime pursuant to the terms hereof, LLC shall calculate and Cinemark shall be entitled to receive a Theatre Access Fee, as set forth in Schedule 1, which shall be paid based on Cinemark Attendance for the relevant fiscal month in which LLC provides the Advertising Services and number of Digital Screens during the fiscal month in which LLC provides the Advertising Services (calculated as the average between the number of Digital Screens on the last day of the fiscal month preceding the relevant fiscal month in which LLC provides the Advertising Services and the last day of the fiscal month in which LLC provides the Advertising Services), and which shall include the amount of 4.03 Revenue allocated to Cinemark for the same fiscal month.

(B)Post-Showtime Theatre Access Fees. In consideration for utilization of the Theatres post-Showtime pursuant to the terms hereof (other than for [***] Platinum Spots), LLC shall calculate and Cinemark shall be entitled to receive Post-Showtime Theatre Access Fees as set forth in Schedule 1, which shall be paid based on Cinemark Attendance for the relevant fiscal month in which LLC provides the Post-Showtime Inventory, and which shall include the amount of Post-Showtime Content Revenue allocated to Cinemark for the same fiscal month.  For the avoidance of doubt, the Parties agree that the Post-Showtime Theatre Access Fees for the relevant fiscal month are owed to Cinemark even if the amount of Aggregate Post-Showtime Revenue for the same fiscal month is zero dollars ($0).

(C)Trailer Pod Fee. In consideration for the utilization of the Theatres post-Showtime for [***] Platinum Spots pursuant to the terms hereof, LLC shall calculate and Cinemark shall be entitled to receive twenty-five (25%) of all revenue generated by LLC from the actual display of [***] Platinum Spots in the Theatres (as more particularly calculated in Schedule 1, the “Trailer Pod Fees”).

(ii)Payment. LLC shall pay Cinemark its Theatre Access Fees, Post-Showtime Theatre Access Fees, [***], and Trailer Pod Fees, as applicable, on or before the last day of LLC’s fiscal month following the fiscal month in which the applicable Advertising Services are provided by LLC; provided that Cinemark has, by the fourteenth (14th) day of LLC’s fiscal month following the fiscal month in which Advertising Services are provided by LLC, given LLC the data regarding attendance and number of Digital Screens necessary for LLC to calculate the Theatre Access Fees, the Post-Showtime Theatre Access Fees, [***], and the Trailer Pod Fees. If Cinemark has not, by the fourteenth (14th) day of LLC’s fiscal month following the fiscal month in which Advertising Services are provided by LLC, given LLC the data regarding attendance and number of Digital Screens necessary for LLC to calculate the Theatre Access Fee, Post-Showtime Theatre Access Fee, [***], or Trailer Pod Fee, the due date of the payment for the relevant fee for which data has not been provided shall be extended by one day for each day that Cinemark is late in providing such data. LLC shall provide Cinemark with a detailed report of the calculation of the Theatre Access Fees, Post-Showtime Theatre Access Fees, [***], and Trailer Pod Fees, pursuant to Schedule 1, which report shall accompany each such payment.

3. Non-Cash Consideration. The reference to “Aggregate Advertising Revenue” in Section 2.06 is hereby deleted and replaced with the following: “Aggregate Advertising Revenue and Aggregate Post-Showtime Revenue”.

4. Pre-Feature Programs. Section 4.01(b)(i) of the ESA is hereby deleted and replaced with the following:

(i)Pre-Feature Program.

(A)Generally. The Pre-Feature Program shall consist of the following elements: (I) commercial advertising; (II) promotions for the Cinemark brand (including the Brand and Branded Slots), Concessions sold and services used by Cinemark and other products and services in accordance with Section 4.05; (III) interstitial content, including the Pre-Feature Closing; (IV) subject to Section 4.01(b)(i)(B)(I)(1), the Pre-Showtime Trailer; and (V) other entertainment programming content which, while promotional of businesses or products, shall be primarily entertaining, educational or informational in nature, rather than commercially inspired. Additionally, only to the extent required by the terms of the Alternative Content Services Agreement and subject to the limitations set forth therein, Event Sponsorships and promotions for Digital Programming Events may be included in the Pre-Feature Program.

(B)Pre-Showtime and Post-Showtime Allocations.

(I)Beginning on November 1, 2019:

(1) Cinemark will have the option to display a Pre-Showtime Trailer.  Pre-Showtime Trailer display requests will be in accordance with the then-current LLC national advertising delivery guidelines and specifications.  

(2) The amount of time included in the Pre-Feature Program displayed prior to Showtime for any Play List shall be reduced by five (5) minutes (not including the Pre-Showtime Trailer) plus the lengths of any Platinum Spot [***] displayed after such Showtime in that Play List (the “Pre-Showtime Reduction”).  For the purposes of clarity, in the event that there is no Trailer Pod Inventory displayed in the applicable Play List, the Pre-Showtime Reduction for that Play List will be five (5) minutes (not including the Pre-Showtime Trailer).

(3) The Event Trailer (commonly known as the “Fathom trailer”) will display at Showtime.

(4) LLC will be entitled to display up to five (5) minutes of the Pre-Feature Program post-Showtime (“Post-Showtime Inventory”), to be displayed between the Event Trailer and the Pre-Feature Closing and followed by the Pre-Feature Closing, a Beverage Slot, the Co-Branded Slot, and the Policy Trailer.

(5) LLC will be entitled to display an additional single unit that is either thirty seconds (:30) or sixty seconds (:60) of the Pre-Feature Program in the Final Trailer Position, i.e. directly prior to the attached Trailer(s) (the one to two (1-2) Trailer(s) immediately) preceding the feature film (the “Platinum Spot”).

(6) The Platinum Spot shall only be used for advertising across LLC’s national network and shall not be used for local advertising or self-promotion of LLC or its brands.

(7) [***].

(8) (i) If LLC does not sell the Platinum Spot in any given Play List, there will be no Trailer Pod Fee [***] for the applicable Play List.  

(ii) If NCM sells a Platinum Spot (whether a sixty second (:60)  spot or a thirty second (:30) spot) in all Exhibitor theatres (i.e. all of LLC’s network of Exhibitors) across all Play Lists, then the Aggregate Trailer Pod Revenue specific to the Platinum Spot displayed in all Exhibitor theatres is expected (on an annualized basis, using a Platinum Contract

Year)  to be [***] dollars ($[***]) (the “Platinum Revenue Minimum”) and, as applied to Cinemark, shall be pro-rated based on the annual Cinemark Attendance (as defined in Schedule 1) as a percentage of all aggregate Exhibitor attendance for such period. Notwithstanding the foregoing, in the event that the Platinum Spot (whether a sixty second (:60) spot or a thirty second (:30) spot) is sold in less than all Exhibitor theatres (i.e. all of LLC’s network of Exhibitors) or less than across all Play Lists, then the amount of the Platinum Revenue Minimum in respect to such Platinum Spot, as applied to Cinemark, shall be the Cinemark Pro-Rated Platinum Revenue Minimum (as defined in Schedule 1).

(9) Subject to Sections 4.01(b)(i)(B)(I)(10) and (11), if LLC is selling a Platinum Spot, LLC shall always offer Cinemark the ability to display such Platinum Spot in 100% of auditoriums in all Theatres.

(10) In the event that a particular advertiser [***] opts out of displaying its Platinum Spot in front of [***], then LLC shall be entitled to sell the Platinum Spot to such advertiser and shall offer Cinemark the ability to display such Platinum Spot in 100% of auditoriums in all Theatres excluding auditoriums showing [***].

(11) LLC may elect to display up to [***] advertisers’ Platinum Spots concurrently by way of a Network Split (as defined in Schedule 1).  In the event that LLC is displaying [***] advertisers’ Platinum Spots by way of a Network Split, then LLC shall procure that the average cost per mille for each set of concurrent Platinum Spots will be equal to or greater than an average cost per mille of [***] dollars ($[***]).

(12) Cinemark will display the Trailer Pod Inventory in accordance with technical specifications, including delivery and update timelines and file specifications in the same manner as have been customarily agreed by the Parties.  Cinemark will notify LLC of the success or failure to display the Trailer Pod Inventory in order for LLC to comply with its obligations to advertising clients in the same manner as Cinemark customarily provides reporting to LLC of advertising displays.

(13) LLC acknowledges and agrees that the Trailer Pod Inventory shall not be sold for non-cash consideration.

(14) Subject to any applicable health or safety legal requirements or regulations, Cinemark will ensure that at and after Showtime, the auditorium lighting in each Theatre will be materially similar to the

auditorium lighting in that Theatre during the Trailers as of the Amendment Effective Date.  In the event that such health or safety issues arise from the auditorium lighting, the Parties agree to work in good faith to find a resolution.  

(II)[***].

5. As of November 1, 2019, NCM acknowledges that (until it is notified otherwise by Cinemark in writing): (i) the first Beverage Slot shall be displayed immediately after the Pre-Feature Closing, shall be thirty (:30) seconds in length, and shall immediately be followed by the Co-Branded Slot; and (ii) the second Beverage Slot shall be thirty (:30) seconds in length and shall be displayed immediately after the Final Trailer Position.

6. Content Standards. All references to “Advertising Services” throughout Section 4.03 will be deleted and replaced with the following: “Advertising Services, excluding Post-Showtime Inventory and Trailer Pod Inventory”.

7. Content Standards. The following is hereby added to the ESA immediately after Section 4.03 as a new and separate Section 4.03A:

Section 4.03A Post-Showtime and Trailer Pod Content Standards. The Parties agree that (unless mutually agreed by the Parties with respect to clauses (i), (iii), (iv), (v) or (vi)) all content within the Post-Showtime Inventory or the Trailer Pod Inventory will not contain content or other material that: (i) has received, or had it been rated would have received, an MPAA “X” or “NC-17” rating (or the equivalent); (ii) promotes illegal activity; (iii) promotes the use of tobacco, sexual aids, birth control, firearms, weapons or similar products; (iv) promotes alcohol, except prior to “R”-rated films in the auditorium; (v) constitutes religious advertising (except on a local basis, exhibiting time and location for local church services); (vi) constitutes political advertising or promotes gambling; (vii) promotes theatres, theatre circuits or other entities that are competitive with Cinemark or LLC; (viii) would violate any of Cinemark’s Beverage Agreements or the exclusive contractual relationships identified in the Specification Documentation (including renewals and extensions of the foregoing, but excluding any amendments or modifications thereto as such relate to such content standards) and any subsequent exclusive arrangement entered into by LLC with respect to the Theatres; or (ix) otherwise reflects negatively on Cinemark or adversely affects Cinemark’s attendance as determined in Cinemark’s reasonable discretion. Cinemark may, without liability, breach or otherwise, prevent and/or take any other actions with respect to the use or distribution of content that violates the foregoing standards; provided, that with respect to Section 4.03A(ix), Cinemark may opt out of such content in Post-Showtime Inventory or the Trailer Pod Inventory only with respect to Theatres in the geographic locations identified, which may include all of Cinemark’s Theatres. To the extent Post-Showtime Inventory or Trailer Pod Inventory is displayed using the Digital Content Service, if either the Post-Showtime Inventory or Trailer Pod Inventory contains any content that violates the foregoing standards, LLC must remove such content as soon as reasonably practical, but no later than within twenty-four (24) hours of Cinemark notifying LLC of such violation. If LLC fails to

remove such content within such twenty-four (24)-hour period, Cinemark may discontinue the Digital Content Service in such auditoriums where such content is shown until the violating content is removed and shall have no liability for such discontinuation. To the extent the Post-Showtime Inventory or Trailer Pod Inventory is displayed using Cinemark’s equipment and contains any content that violates the foregoing standards, Cinemark may remove such content after notifying LLC of such violation and shall have no liability for such discontinuation.  If any Founding Member does not agree to exhibit any content of the Advertising Services subject to Section 4.03A(i), (iii), (iv), (v) or (vi), then LLC shall apply any revenue it is entitled to receive from such Post-Showtime Inventory (“Post-Showtime Content Revenue”) to adjust payments of the Post-Showtime Theatre Access Fee as set forth in Schedule 1.

8. Branded Content. The second and third sentences of Section 4.05(a) of the ESA are hereby deleted and replaced with the following:

The interstitial messaging shall include a Pre-Feature Program introduction and a “Pre-Feature Closing” containing content branded with the Cinemark Marks. The Pre-Feature Closing shall be displayed after Showtime, be no more than thirty (30) seconds in length, and include content branded with the marks of Cinemark’s beverage concessionaire.

9. Branded Slot.

Each reference in Section 4.05(c) to “of the Play List” is hereby deleted and replaced with the following: “prior to Showtime.”

10. Beverage Agreements.

A. In the first sentence of Section 4.06(a) of the ESA, “advertising Inventory” is hereby deleted and replaced with the following: “Beverage Slot”.

B. In the first sentence of Section 4.06(a) of the ESA, “within the Play List, as set forth in the Specification Documentation,” is hereby deleted and replaced with the following: “following the Pre-Feature Closing”.

C. Effective November 1, 2019, the following is hereby inserted at the end of Section 4.06(a) of the ESA:

“For the avoidance of doubt, other than as set forth in this paragraph, no other amounts shall be payable by Cinemark to LLC in consideration for the Beverage Slot (including, for the avoidance of doubt, the Beverage Slot prior to the Co-Branded Spot (as defined below) and the Beverage Slot which follows the final trailer position). The Parties agree that Cinemark’s co-branded spot with its beverage concessionaire (the “Co-Branded Slot”), which is up to (and including) thirty (:30) seconds in length, shall be displayed prior to the Policy Trailer, and may be an advertisement for or may include advertisements for Cinemark’s beverage concessionaire, (i) is not a Beverage Slot for the purposes of this Agreement, (ii) does not reduce the amount of

time allotted under Section 4.05 to its Branded Slots within the Play List, and (iii) Cinemark is not required to pay the Beverage Agreement Advertising Rate for such spot.”

11. Excluded Theatres. In Section 4.13(a) of the ESA, the words “calculation of Theatre Access Fees” are hereby deleted and replaced with the following: “calculation of Theatre Access Fees, Post-Showtime Theatre Access Fees, Trailer Pod Fees, or [***]”.

12. Payment. In the first sentence of Section 8.01 of the ESA, the words “(e.g., payment of the Theatre Access Fees pursuant to Section 2.05(b))” are hereby deleted and replaced with the following: “(e.g., payment of the Theatre Access Fees, Post-Showtime Theatre Access Fees, Trailer Pod Fees, and [***] pursuant to Section 2.05(b)(ii))”.

13. Term. “February 13, 2037” in the first sentence of Section 9.01 of the ESA is hereby deleted and replaced with the following: “February 13, 2041”.

14. Termination of Post-Showtime Inventory and Post-Showtime Theatre Access Fees. The following is hereby added to the ESA as a new and separate Section 9.02A and is inserted immediately prior to Section 9.03 of the ESA:

Section 9.02A Termination of Post-Showtime Inventory and Post-Showtime Theatre Access Fees. In its sole discretion, LLC may, by written notice to Cinemark no later than August 1, 2022, terminate: (i) the display of the Post-Showtime Inventory and the Trailer Pod Inventory, and (ii) payments of the Post-Showtime Theatre Access Fees and [***], both effective as of November 1, 2022. If LLC exercises such termination option, then, as of November 1, 2022, the First Amendment to Amended and Restated Exhibitor Services Agreement dated September 17, 2019 between LLC and Cinemark (other than Section 15 thereof that amends Section 14.01 of this Agreement) shall be terminated and deemed to be null and void and of no further force or effect with respect to this Agreement.

15. Confidential Treatment. “For a period of three years after the termination of this Agreement:” in Section 14.01 of the ESA is hereby deleted and replaced with the following: “During the Term, and for a period of three (3) years after the termination of this Agreement:”.

16. Fiscal Calendar; No Affiliates. The following is hereby added to the ESA as a new and separate Section 15.05A and Section 15.05B and is inserted immediately after Section 15.05 of the ESA:

Section 15.05A Fiscal Calendar.  LLC’s fiscal year ends on the first Thursday after December 25 each year.   LLC shall not change its method of calculating its fiscal year (i) unless for a bona fide accounting reason, and (ii) in any event without prior written notice to Cinemark.

Section 15.05B No Affiliates. As of the date of the First Amendment to the Agreement, LLC hereby represents and warrants to Cinemark that LLC has no Affiliates. LLC acknowledges and agrees that

it shall not sell Advertising Services through Affiliates of LLC without Cinemark’s consent, and, if Cinemark so consents, then references in this Agreement to “revenue payable to LLC” or similar phrases shall be deemed to refer to “revenue payable to LLC or its Affiliates”.

17. Beverage Agreement Advertising Rate. The first paragraph of Section B of Exhibit B to the ESA is hereby deleted and replaced with the following:

The initial Beverage Agreement Advertising Rate as of the Original Effective Date is $[***] in Cinemark Attendance for a thirty second (:30) advertisement. The Beverage Agreement Advertising Rate shall (i) increase eight percent (8%) per year for each of the first two fiscal years beginning at the end of LLC’s 2007 fiscal year; (ii) beginning at the end of the period set forth in clause (i) above, increase six percent (6%) per year for each of the next two fiscal years; and (iii) beginning at the end of the period set forth in clause (ii) above until November 1, 2019, increase in an amount equal to the annual percentage increase in the advertising rates per thousand attendees charged by LLC to unaffiliated third parties (excluding the advertising associated with the Beverage Agreement) for on-screen advertising in the Pre-Feature Program during the last six (6) minutes preceding the start of the Trailers for each fiscal year, but in no event more than the highest advertising rate per thousand attendees being then-charged by LLC.  Commencing on November 1, 2019, the Beverage Agreement Advertising Rate shall be $[***] in Cinemark Attendance for a thirty second (:30) advertisement, which is the cost per mille charged by LLC to Cinemark as of the beginning of LLC’s 2019 fiscal year for the Beverage Slot and shall increase two percent (2%) annually (1) effective beginning the first day of the 2020 fiscal year and (2) thereafter on each fiscal year anniversary of such date.

For clarity, prior to November 1, 2019, the existence of this Amendment shall not impact the then-current Beverage Agreement Advertising Rate.

18. Calculation of Exhibitor Allocation, Theatre Access Fee and Run-Out Obligations. Schedule 1 to the ESA is hereby amended as follows:

A. Definitions:

The following definitions are hereby added to Schedule 1 to the ESA and inserted alphabetically into Section A thereof:

“Aggregate Post-Showtime Opt-In Attendance” means [***].

“Aggregate Post-Showtime Opt-In Revenue” means [***].

“Aggregate Post-Showtime Theatre Access Pool”means [***].

[***].

“Cinemark Attendance Allocation”has the meaning assigned to it in Schedule 1, Section E.

“Cinemark Post-Showtime Opt-In Revenue”means [***].

“Cinemark Post-Showtime Opt-Out Attendance”means [***].

“Cinemark Post-Showtime Opt-Out Revenue” means [***].

“Cinemark Post-Showtime Theatre Access Fee”means the product of (i) the Post-Showtime Theatre Access Fee per Patron and (ii) Cinemark Attendance for the applicable fiscal month.

“Cinemark Pro-Rated Platinum Revenue Minimum” has the meaning assigned to it in Schedule 1, Section E.

“Cinemark Pro-Rated Platinum Revenue Trailer Pod Fee” has the meaning assigned to it in Schedule 1, Section E.

“Cinemark Spot Trailer Pod Fees” means Cinemark’s Trailer Pod Fees for any [***] Platinum Spot.

“Network Split” means displaying [***] concurrent advertisers’ Platinum Spots in different auditoriums in Theatres that receive the applicable advertiser’s Platinum Spot in a Play List (but never, for the avoidance of doubt, in any auditorium in the same Play List).  The [***] Network Splits will always add up to 100% of the auditoriums in 100% of the Theatres, except as provided for in Section 4.01(b)(i)(B)(I)(10).

“Participating Cinemark Attendance” means the Cinemark Attendance for auditoriums in Theatres that: (a) for Platinum Spots, actually displayed the applicable Platinum Spot(s) as Platinum Spot(s) in the Trailer Pod Inventory, and (b) [***].

“Post-Showtime Content Opt-Out” means the process of opting out of Post-Showtime Inventory under Section 4.03A.

“Post-Showtime Content Participating Attendance”means [***].

“Post-Showtime Content Theatre Access Fee”means [***].

“Post-Showtime Theatre Access Fee” means a monthly payment from LLC to Cinemark in consideration for Theatres’ participation in Post-Showtime Advertising Services, which shall be the sum of (i) the Cinemark Post-Showtime Theatre Access Fee and (ii) the Post-Showtime Content Theatre Access Fee.

“Post-Showtime Theatre Access Fee per Patron”means the fee per patron as follows:

a. Beginning on November 1, 2019, the Post-Showtime Theatre Access Fee per Patron will be $0.025.

b. Beginning on November 1, 2020, the Post-Showtime Theatre Access Fee per Patron will increase to $0.0375.

c. Beginning on November 1, 2021, the Post-Showtime Theatre Access Fee per Patron will increase to $0.05.

d. Beginning on November 1, 2022, the Post-Showtime Theater Access Fee per Patron shall increase by four percent (4%).

e. On November 1, 2027 and every five (5) years thereafter on November 1, the Post-Showtime Theatre Access Fee per Patron shall increase by eight percent (8%).

“Post-Showtime Theatre Access Pool Percentage” means [***].

“Pro-Rated Platinum Minimum Ratio” has the meaning assigned to it inSchedule 1, Section E.

“Regal Post-Showtime Theatre Access Fee” means the Regal Post-Showtime Theatre Access Fee, calculated pursuant to the Regal Exhibitor Agreement.

“Spot Trailer Pod Revenue” means all revenue generated from any [***] Platinum Spot as Trailer Pod Inventory that was displayed in the applicable period.

[***].

The following definition in Section A of Schedule 1 to the ESA is hereby deleted and replaced with the following:

[***].

B. Definition References:  The Parties agree that the table at the end of Section A of Schedule 1 to the ESA containing references to the definitions in the main body of the ESA is hereby updated to include all new and updated definitions set forth in the main body of this Amendment.

C. Section C: The calculation for “Aggregate Advertising Revenue” in Section 2(c) of Section C of Schedule 1 to the ESA is hereby deleted and replaced with the definition of Aggregate Advertising Revenue as defined in Section 1.B. of this Amendment.

D. Section D:

[***].

E. New Section E: Schedule 1 to the ESA is hereby amended by adding at the end thereof, and as Section E thereto, the section titled “Section E: Post-Showtime Theatre Access Fees and Trailer Pod Fees” set forth in Exhibit A attached hereto.

19. Remaining Terms; Conflicts. Except as modified by this Amendment, all terms and conditions of the ESA shall remain in full force and effect. To the extent there is a conflict between the terms of the ESA and this Amendment, the terms of this Amendment shall control.

Remainder of page intentionally left blank; signature page follows.

IN WITNESS WHEREOF, the Parties have, by their respective duly authorized representatives, executed this Amendment as of the Amendment Effective Date.

National CineMedia, LLC By National CineMedia, Inc., its manager /s/ Tom Lesinski	Cinemark USA, Inc. /s/ Michael Cavalier
Signature	Signature
Tom Lesinski	Michael Cavalier
Printed Name	Printed Name
Chief Executive Officer	Executive Vice President - General Counsel
Title	Title

EX-31.1

EXHIBIT 31.1

CERTIFICATION

PURSUANT TO SECTION 302 OF THE

SARBANES - OXLEY ACT OF 2002

I, Mark Zoradi, certify that:

1. I have reviewed this report on Form 10-Q of Cinemark Holdings, Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15 (e) and 15d-15 (e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15 (f) and 15d-15 (f)) for the registrant and have:

a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d) disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of registrant’s board of directors (or persons performing the equivalent functions):

a) all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date:	November 5, 2019
By:	/s/ Mark Zoradi
Mark Zoradi
Chief Executive Officer

EX-31.2

EXHIBIT 31.2

CERTIFICATION

PURSUANT TO SECTION 302 OF THE

SARBANES – OXLEY ACT OF 2002

I, Sean Gamble, certify that:

1. I have reviewed this report on Form 10-Q of Cinemark Holdings, Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15 (e) and 15d-15 (e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15 (f) and 15d-15 (f)) for the registrant and have:

a) designed such disclosure controls and procedures, or caused such disclosure controls and    procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d) disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of registrant’s board of directors (or persons performing the equivalent functions):

a) all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date:	November 5, 2019
By:	/s/ Sean Gamble
Sean Gamble
Chief Financial Officer

EX-32.1

EXHIBIT 32.1

CERTIFICATION

PURSUANT TO 18 U.S.C. SECTION 1350, AS ADDED BY SECTION 906 OF THE

SARBANES - OXLEY ACT OF 2002

This certification is provided pursuant to 18 U.S.C. Section 1350, as added by Section 906 of the Sarbanes-Oxley Act of 2002 and accompanies the quarterly report on Form 10-Q (the “Form 10-Q”) for the quarter ended September 30, 2019 of Cinemark Holdings, Inc. (the “Issuer”).

I, Mark Zoradi, the Chief Executive Officer of Issuer certify that to the best of my knowledge:

(i) the Form 10-Q fully complies with the requirements of section 13(a) or section 15(d) of the Securities Exchange Act of 1934 (15 U.S.C. 78m(a) or 78o(d)); and

(ii) the information contained in the Form 10-Q fairly presents, in all material respects, the financial condition and results of operations of the Issuer.

Dated:	November 5, 2019
/s/ Mark Zoradi
Mark Zoradi
Chief Executive Officer

Subscribed and sworn to before me this 5^th day of November 2019.

/s/ Julia M. Martinez
Name:	Julia M. Martinez
Title:	Notary Public
My commission expires: 09/25/2021

A signed original of this written statement required by Section 906 has been provided to the Company and will be retained by the Company and furnished to the Securities and Exchange Commission or its staff upon request.

EX-32.2

EXHIBIT 32.2

CERTIFICATION

PURSUANT TO 18 U.S.C. SECTION 1350, AS ADDED BY SECTION 906 OF THE

SARBANES – OXLEY ACT OF 2002

This certification is provided pursuant to 18 U.S.C. Section 1350, as added by Section 906 of the Sarbanes-Oxley Act of 2002 and accompanies the quarterly report on Form 10-Q (the “Form 10-Q”) for the quarter ended September 30, 2019 of Cinemark Holdings, Inc. (the “Issuer”).

I, Sean Gamble, the Chief Financial Officer of Issuer certify that to the best of my knowledge:

(i) the Form 10-Q fully complies with the requirements of section 13(a) or section 15(d) of the Securities Exchange Act of 1934 (15 U.S.C. 78m(a) or 78o(d)); and

(ii) the information contained in the Form 10-Q fairly presents, in all material respects, the financial condition and results of operations of the Issuer.

Dated:	November 5, 2019
/s/ Sean Gamble
Sean Gamble
Chief Financial Officer

Subscribed and sworn to before me this 5^th day of November 2019.

/s/ Julia M. Martinez
Name:	Julia M. Martinez
Title:	Notary Public
My commission expires: 09/25/2021

A signed original of this written statement required by Section 906 has been provided to the Company and will be retained by the Company and furnished to the Securities and Exchange Commission or its staff upon request.

XML

New Accounting Pronouncements

9 Months Ended

Sep. 30, 2019

Accounting Changes And Error Corrections [Abstract]

New Accounting Pronouncements

2. New Accounting Pronouncements

In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-02, Leases (Topic 842), (“ASC Topic 842”). The purpose of ASC Topic 842 is to provide financial statement users a better understanding of the amount, timing, and uncertainty of cash flows arising from leases. The adoption of ASU 2016-02 resulted in the recognition of a right-of-use asset and a lease liability for most operating leases.  Additionally, new disclosure requirements include qualitative and quantitative information about the amounts recorded in the financial statements. The Company adopted ASC Topic 842 effective January 1, 2019.  See Note 3 for further discussion.  

XML

Segments (Tables)

9 Months Ended

Sep. 30, 2019

Segment Reporting [Abstract]

Selected Financial Information by Reportable Operating Segment

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

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2019			2018			2019			2018
Revenues
U.S.	$	636,628		$	585,536		$	1,941,545		$	1,897,664
International		188,772			171,960			563,509			535,567
Eliminations		(3,583	)		(3,261	)		(10,758	)		(9,972	)
Total revenues	$	821,817		$	754,235		$	2,494,296		$	2,423,259
Adjusted EBITDA
U.S.	$	132,347		$	132,652		$	453,404		$	476,907
International		37,411			35,740			113,346			106,518
Total Adjusted EBITDA	$	169,758		$	168,392		$	566,750		$	583,425
Capital expenditures
U.S.	$	50,679		$	65,458		$	148,609		$	195,104
International		20,664			17,915			37,903			50,858
Total capital expenditures	$	71,343		$	83,373		$	186,512		$	245,962

Reconciliation of Net Income to Adjusted EBITDA

The following table sets forth a reconciliation of net income to Adjusted EBITDA:

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2019			2018			2019			2018
Net income	$	31,955		$	50,621		$	167,009		$	195,262
Add (deduct):
Income taxes		14,053			16,169			64,152			59,592
Interest expense (1) (2)		24,967			27,144			75,037			82,725
Other income, net (3)		(9,970	)		(8,810	)		(25,079	)		(15,247	)
Loss on debt amendments and refinancing		—			—			—			1,484
Distributions from DCIP (4)		2,694			—			7,912			5,201
Other cash distributions from equity investees (5)		5,804			4,786			20,251			15,840
Depreciation and amortization (2)		67,760			64,971			196,795			193,656
Impairment of long-lived assets		27,304			1,641			45,382			5,020
Loss on disposal of assets and other		2,453			7,826			8,057			28,666
Non-cash rent expense (6)		(1,102	)		—			(3,252	)		—
Deferred lease expenses (2)		—			(20	)		—			(952	)
Amortization of long-term prepaid rents (2)		—			578			—			1,814
Share based awards compensation expense		3,840			3,486			10,486			10,364
Adjusted EBITDA (2)	$	169,758		$	168,392		$	566,750		$	583,425

(1) Includes amortization of debt issue costs.

(2) Amounts for the three and nine months ended September 30, 2019 were impacted by the adoption of ASC Topic 842 and the resulting change in the classification of certain of the Company’s leases.  

(3) Includes interest income, foreign currency exchange loss, equity in income of affiliates and interest expense - NCM and excludes distributions from NCM.

(4) See discussion of cash distributions from DCIP, which were recorded as a reduction of the Company’s investment in DCIP, at Note 9.

(5) Includes cash distributions received from equity investees, other than those from DCIP noted above, that were recorded as a reduction of the respective investment balances (see Notes 8 and 9).  These distributions are reported entirely within the U.S. operating segment.

(6) The adoption of ASC Topic 842 impacted how the Company amortizes lease related assets and liabilities such as deferred lease expenses, favorable and unfavorable lease intangible assets, long-term prepaid rents and deferred lease incentives.  Beginning January 1, 2019, these items are amortized to facility lease expense for theatre operating leases and utilities and other for equipment operating leases.  See Note 3 for discussion of the impact of ASC Topic 842.  

Selected Financial Information by Geographic Area

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

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
Revenues	2019			2018			2019			2018
U.S.	$	636,628		$	585,536		$	1,941,545		$	1,897,664
Brazil		79,776			65,152			240,263			218,265
Other international countries		108,996			106,808			323,246			317,302
Eliminations		(3,583	)		(3,261	)		(10,758	)		(9,972	)
Total	$	821,817		$	754,235		$	2,494,296		$	2,423,259

	As of		As of
Theatre Properties and Equipment-net (1)	September 30, 2019		December 31, 2018
U.S.	$	1,408,052	$	1,479,603
Brazil		111,297		140,570
Other international countries		163,052		212,960
Total	$	1,682,401	$	1,833,133

⁽¹⁾ See Note 3 for discussion of impact of ASC Topic 842 on capital lease assets.  

XML

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Statement Of Income And Comprehensive Income [Abstract]
Net income	$ 31,955	$ 50,621	$ 167,009	$ 195,262
Other comprehensive loss, net of tax
Unrealized loss due to fair value adjustments on interest rate swap agreements, net of taxes of $417, $0, $3,391 and $0, net of settlements	(1,291)	0	(10,504)	0
Other comprehensive loss in equity method investments	(49)	(63)	(142)	(43)
Foreign currency translation adjustments	(25,408)	(10,797)	(19,728)	(66,841)
Total other comprehensive loss, net of tax	(26,748)	(10,860)	(30,374)	(66,884)
Total comprehensive income, net of tax	5,207	39,761	136,635	128,378
Comprehensive income attributable to noncontrolling interests	(602)	(393)	(1,957)	(878)
Comprehensive income attributable to Cinemark Holdings, Inc.	$ 4,605	$ 39,368	$ 134,678	$ 127,500

XML

National CineMedia (Tables)

9 Months Ended

Sep. 30, 2019

Aggregate Amount of Transaction Price Allocated To Performance Obligation That Are Unsatisfied And Expected To Be Recognized

The table below summarizes the aggregate amount of the transaction price allocated to performance obligations that are unsatisfied as of September 30, 2019 and when the Company expects to recognize this revenue.

	Twelve Months Ended September 30,
Remaining Performance Obligations	2020		2021		2022		2023		2024		Thereafter		Total
Deferred revenue		102,449		9,488		200		46		—		—		112,183

NCM Screen Advertising Advances

Aggregate Amount of Transaction Price Allocated To Performance Obligation That Are Unsatisfied And Expected To Be Recognized

The recognition of revenue related to the deferred revenue or NCM screen advertising advances will continue to be recorded on a straight-line basis over the new term of the amended ESA or February 2041.

	Twelve Months Ended September 30,
Remaining Maturity	2020		2021		2022		2023		2024		Thereafter		Total
NCM screen advertising advances		15,912		15,917		15,917		15,917		15,917		197,405		276,985

NCM

Summary of Activity With Equity Investee Included in the Company's Condensed Consolidated Financial Statements

Below is a summary of activity with NCM included in the Company’s condensed consolidated financial statements:

	Investment in NCM			NCM Screen Advertising Advances			Distributions from NCM			Equity in Earnings			Other Revenue			Interest Expense - NCM (2)		Cash Received
Balance as of January 1, 2019	$	275,592		$	(287,349	)
Receipt of common units due to annual common unit adjustment ("CUA")		1,552			(1,552	)		—			—			—			—		—
Revenues earned under ESA (1)(2)		—			—			—			—			(22,151	)		13,392		8,759
Revenues earned under amendment to ESA(2)(3)		—			—			—			—			(1,482	)		788		694
Receipt of excess cash distributions		(16,126	)		—			(8,009	)		—			—			—		24,135
Receipt of cash under tax receivable agreement		(2,324	)		—			(1,159	)		—			—			—		3,483
Equity in earnings		14,062			—			—			(14,062	)		—			—		—
Amortization of deferred revenue		—			11,916			—			—			(11,916	)		—		—
Balance as of and for the nine months ended September 30, 2019	$	272,756		$	(276,985	)	$	(9,168	)	$	(14,062	)	$	(35,549	)	$	14,180	$	37,071

(1) Amount includes the per patron and per digital screen theatre access fees due to the Company prior to the first amendment to the Amended and Restated ESA, net of amounts paid to NCM for on-screen advertising time provided to the Company’s beverage concessionaire of approximately $8,808.

(2)   Reflects impact of significant financing component related to amounts received in advance under the ESA and CUA agreements.  See also Notes 3 and 4.  

(3) Reflects screen rental revenues earned after the amendment to the ESA.

Summary Financial Information

NCM Financial Information

Below is summary financial information for NCM for the periods indicated (financial information as of and for the three months ended September 27, 2019 is not yet available).

	Three Months Ended		Six Months ended		Three Months Ended		Nine Months Ended
	June 27, 2019		June 27, 2019		September 27, 2018		September 27, 2018
Gross revenues	$	110,200	$	187,100	$	110,100	$	304,000
Operating income	$	37,700	$	48,600	$	42,300	$	93,500
Net income	$	23,500	$	20,600	$	28,500	$	50,500

	As of			As of
	June 27, 2019			December 27, 2018
Current assets	$	141,100		$	172,700
Noncurrent assets	$	732,900		$	726,800
Current liabilities	$	88,400		$	115,200
Noncurrent liabilities	$	939,300		$	924,900
Members deficit	$	(153,700	)	$	(140,600	)

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Impairment of Long-Lived Assets (Tables)

9 Months Ended

Sep. 30, 2019

Impairment Or Disposal Of Tangible Assets Disclosure [Abstract]

Long-Lived Asset Impairment Charges

The long-lived asset impairment charges recorded during each of the periods presented are specific to theatres that were directly and individually impacted by increased competition, adverse changes in market demographics or adverse changes in the development or the conditions of the areas surrounding the theatre.

Below is a summary of impairment charges for the periods presented:

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2019		2018		2019		2018
U.S. theatre properties and equipment	$	24,502	$	1,553	$	26,754	$	3,331
U.S. operating lease right-of-use assets		2,157		—		10,204		—
International theatre properties and equipment		645		88		6,796		1,689
International operating lease right-of-use assets		—		—		1,628		—
Total	$	27,304	$	1,641	$	45,382	$	5,020

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Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2019	Oct. 31, 2019
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3
Entity Registrant Name	Cinemark Holdings, Inc.
Entity Central Index Key	0001385280
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		117,148,809
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Shell Company	false
Entity File Number	001-33401
Entity Tax Identification Number	20-5490327
Entity Address, Address Line One	3900 Dallas Parkway
Entity Address, City or Town	Plano
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	75093
City Area Code	972
Local Phone Number	665-1000
Entity Incorporation, State or Country Code	DE
Document Quarterly Report	true
Document Transition Report	false
Title of Each Class	Common stock, par value $.001 per share
Trading Symbol(s)	CNK
Name of each exchange on which registered	NYSE

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Other Investments

9 Months Ended

Sep. 30, 2019

Financial Support For Nonconsolidated Legal Entity [Abstract]

Other Investments

9. Other Investments

Below is a summary of activity for each of the Company’s other investments for the nine months ended September 30, 2019:

	DCIP			AC JV, LLC			DCDC		FE Concepts			Other			Total
Balance at January 1, 2019	$	125,252		$	5,266		$	2,255	$	19,918		$	4,075		$	156,766
Cash distributions received		(7,912	)		(1,800	)		—		—			—			(9,712	)
Equity in income		17,024			2,185			777		(66	)		—			19,920
Equity in other comprehensive loss		(142	)		—			—		—			—			(142	)
Other		—			—			—		—			(799	)		(799	)
Balance at September 30, 2019	$	134,222		$	5,651		$	3,032	$	19,852		$	3,276		$	166,033

Digital Cinema Implementation Partners LLC (“DCIP”)

On February 12, 2007, the Company, AMC and Regal (the “Exhibitors”) entered into a joint venture known as DCIP to facilitate the implementation of digital cinema in the Company’s theatres and to establish agreements with major motion picture studios for the financing of digital cinema. On March 10, 2010, DCIP and its subsidiaries completed an initial financing transaction to enable the purchase, deployment and leasing of digital projection systems to the Exhibitors under equipment lease and installation agreements.  On March 31, 2011, DCIP obtained incremental financing necessary to complete the deployment of digital projection systems.  DCIP also entered into long-term Digital Cinema Deployment Agreements (“DCDAs”) with six major motion picture studios pursuant to which Kasima LLC, one of DCIP’s subsidiaries, receives a virtual print fee ("VPF") each time the studio books a film or certain other content on the leased digital projection systems. Other content distributors entered into similar DCDAs that provide for the payment of VPFs for bookings of the distributor's content on a leased digital projection system.  The DCDAs end on the earlier to occur of (i) the tenth anniversary of the "mean deployment date" for all digital projection systems scheduled to be deployed over a period of up to five years, or (ii) the date DCIP achieves "cost recoupment", each as defined in the DCDAs.  Cost

recoupment occurs when revenues attributable to the digital projection systems exceed the financing, deployment, administration and other costs associated with the purchase of the digital projection systems.  DCIP expects cost recoupment to occur during late 2020.  Pursuant to the operating agreement between the Exhibitors and DCIP, DCIP began to distribute excess cash to the Exhibitors upon the payoff of its outstanding debt, which occurred during the three months ended September 30, 2019.  

As of September 30, 2019, the Company had a 33% voting interest in DCIP and a 24.3% economic interest in DCIP. The Company accounts for its investment in DCIP and its subsidiaries under the equity method of accounting.

Below is summary financial information for DCIP for the periods indicated:

	Three Months Ended				Nine Months Ended
	September 30, 2019		September 30, 2018		September 30, 2019		September 30, 2018
Gross revenues	$	40,200	$	43,403	$	125,869	$	126,957
Operating income	$	22,617	$	25,816	$	73,396	$	74,310
Net income	$	22,362	$	24,311	$	69,323	$	68,014

	As of
	September 30, 2019		December 31, 2018
Current assets	$	64,019	$	57,907
Noncurrent assets	$	603,209	$	684,545
Current liabilities	$	66,942	$	67,408
Noncurrent liabilities	$	11,985	$	125,596
Members' equity	$	588,301	$	549,448

As of September 30, 2019, the Company had 3,866 digital projection systems being leased under the master equipment lease agreement with Kasima LLC, which is an indirect subsidiary of DCIP and a related party to the Company.  See Note 3 for discussion of the weighted-average remaining lease term and discount rate of equipment operating leases, which includes digital projection systems leased from Kasima, LLC. The Company had the following transactions with DCIP, reflected in utilities and other costs on the condensed consolidated statements of income, during the three and nine months ended September 30, 2019 and 2018:

	Three Months Ended						Nine Months Ended
	September 30, 2019			September 30, 2018			September 30, 2019			September 30, 2018
Equipment lease payments	$	1,105		$	1,229		$	3,357		$	3,689
Warranty reimbursements from DCIP	$	(2,953	)	$	(2,791	)	$	(8,842	)	$	(7,909	)
Management service fees	$	128		$	180		$	438		$	558

AC JV, LLC

During December 2013, the Company, Regal, AMC (the “AC Founding Members”) and NCM entered into a series of agreements that resulted in the formation of AC JV, LLC (“AC”), a joint venture that owns “Fathom Events” formerly operated by NCM.  The Fathom Events business focuses on the marketing and distribution of live and pre-recorded entertainment programming to various theatre operators, including concerts, opera and symphony, DVD product releases and marketing events, theatrical premieres, Broadway plays, live sporting events and other special events. The Company paid event fees to AC of $10,332 and $8,516 for the nine months ended September 30, 2019 and 2018, respectively, which are included in film rentals and advertising costs on the condensed consolidated statements of income.  Additionally, the remaining outstanding balance of a note payable from the Company to NCM, related to the formation of AC, was $1,389 as of September 30, 2019.

Digital Cinema Distribution Coalition

Digital Cinema Distribution Coalition (“DCDC”) is a joint venture among the Company, Universal, Warner Bros., AMC and Regal.  DCDC operates a satellite distribution network that distributes all digital content to U.S. theatres via satellite. The Company has an approximate 14.6% ownership in DCDC. The Company paid approximately $703 and $657 to DCDC during the nine months ended September 30, 2019 and 2018, respectively, related to content delivery services provided by DCDC.  These fees are included in film rentals and advertising costs on the condensed consolidated statements of income.

FE Concepts, LLC

During April 2018, the Company, through its wholly-owned indirect subsidiary CNMK Texas Properties, LLC (“CNMK”), formed a joint venture, FE Concepts, LLC (“FE Concepts”) with AWSR Investments, LLC (“AWSR”), an entity owned by Lee Roy Mitchell and Tandy Mitchell.  FE Concepts will develop and operate a family entertainment center that offers bowling, gaming, movies and other amenities.  The Company and AWSR each invested approximately $20,000 and each have a 50% voting interest in FE Concepts.  The Company accounts for its investment in FE Concepts under the equity method of accounting.

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Earnings Per Share

9 Months Ended

Sep. 30, 2019

Earnings Per Share [Abstract]

Earnings Per Share

5. Earnings Per Share

The Company considers its unvested restricted stock awards, which contain non-forfeitable rights to dividends, participating securities, and includes such participating securities in its computation of earnings per share pursuant to the two-class method. Basic earnings per share for the two classes of stock (common stock and unvested restricted stock) is calculated by dividing net income by the weighted average number of shares of common stock and unvested restricted stock outstanding during the reporting period. Diluted earnings per share is calculated using the weighted average number of shares of common stock plus the potentially dilutive effect of common equivalent shares outstanding determined under both the two class method and the treasury stock method.

The following table presents computations of basic and diluted earnings per share under the two-class method:

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2019			2018			2019			2018
Numerator:
Net income attributable to Cinemark Holdings, Inc.	$	31,353		$	50,228		$	165,052		$	194,384
Earnings allocated to participating share-based awards (1)		(211	)		(304	)		(1,012	)		(1,123	)
Net income attributable to common stockholders	$	31,142		$	49,924		$	164,040		$	193,261
Denominator (shares in thousands):
Basic weighted average common stock outstanding		116,356			116,119			116,288			116,032
Common equivalent shares for restricted stock units		244			203			289			256
Diluted common equivalent shares		116,600			116,322			116,577			116,288
Basic earnings per share attributable to common stockholders	$	0.27		$	0.43		$	1.41		$	1.66
Diluted earnings per share attributable to common stockholders	$	0.27		$	0.43		$	1.41		$	1.66

(1) For the three months ended September 30, 2019 and 2018, a weighted average of approximately 793 and 708 shares of restricted stock, respectively, were considered participating securities.  For the nine months ended September 30, 2019 and 2018, a weighted average of approximately 719 and 677 shares of restricted stock, respectively, were considered participating securities.  

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Summary of Treasury Stock Activity (Detail) $ in Thousands	9 Months Ended
	Sep. 30, 2019 USD ($) shares
Treasury Stock Shares [Abstract]
Beginning Balance, Shares | shares	4,626,191
Restricted stock withholdings | shares	57,456	[1]
Restricted stock forfeitures | shares	19,351
Ending Balance, Shares | shares	4,702,998
Beginning Balance, Cost | $	$ 79,259
Restricted stock withholdings | $	2,247	[1]
Restricted stock forfeitures | $	0
Ending Balance, Cost | $	$ 81,506

[1] The Company withheld restricted shares as a result of the election by certain employees to satisfy their tax liabilities upon vesting in restricted stock and restricted stock units.  The Company determined the number of shares to be withheld based upon market values ranging from $36.81 to $40.32 per share.

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Intangible Assets (Parenthetical) (Detail)	Sep. 30, 2019 Theatre
Intangible Assets Net Excluding Goodwill [Abstract]
Number of theatres acquired	2

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Summary of Liabilities Measured at Fair Value on a Recurring Basis (Detail) - Fair Value Measurements, Recurring - USD ($) $ in Thousands		Sep. 30, 2019	Dec. 31, 2018
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Interest rate swap liabilities	[1]	$ (18,988)	$ (5,093)
Level 3
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Interest rate swap liabilities	[1]	$ (18,988)	$ (5,093)

[1] See further discussion of interest rate swaps at Note 6

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Summary of Restricted Stock Award Activity (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of restricted stock unit awards that vested during the period	198,711
Fair value of restricted shares that vested during the period	$ 7,630	$ 7,815
Compensation expense recognized during the period	7,456	7,266
Income tax benefit recognized upon vesting of restricted stock awards	$ 1,473	$ 1,751
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of restricted stock unit awards that vested during the period	88,074	127,084
Fair value of restricted shares that vested during the period	$ 3,550	$ 4,846
Accumulated dividends paid upon vesting of restricted stock unit awards	375	526
Compensation expense recognized during the period	3,030	3,098
Income tax benefit recognized upon vesting of restricted stock awards	$ 175	$ 740

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Aggregate Amount of Transaction Price Allocated To Performance Obligation That Are Unsatisfied And Expected To Be Recognized (Detail) $ in Thousands	Sep. 30, 2019 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2019-10-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2020-10-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2021-10-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2022-10-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2023-10-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2024-10-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period
Deferred Revenue
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Remaining performance obligations	$ 112,183
Deferred Revenue | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2019-10-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Remaining performance obligations	102,449
Deferred Revenue | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2020-10-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Remaining performance obligations	9,488
Deferred Revenue | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2021-10-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Remaining performance obligations	200
Deferred Revenue | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2022-10-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Remaining performance obligations	$ 46

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Revenue Recognition - Additional Information (Detail)	Sep. 30, 2019 USD ($)
Revenue From Contract With Customer [Abstract]
Receivables related to contracts with customers	$ 29,719,000
Assets related to costs to obtain or fulfill contract with customers	$ 0

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Long Term Debt Activity - Additional Information (Detail) $ in Thousands		9 Months Ended
	Mar. 29, 2018 USD ($)	Sep. 30, 2019 USD ($) Agreement	Sep. 30, 2018 USD ($)	Dec. 31, 2018 USD ($)
Debt Instrument [Line Items]
Incurred debt issue costs			$ 5,103
Carrying value of long-term debt		$ 1,804,364		$ 1,809,311
Fair value of long-term debt		$ 1,825,063		$ 1,774,066
Number of interest rate swap agreements | Agreement		3
Amended Senior Secured Credit Facility
Debt Instrument [Line Items]
Debt instrument, reduction in interest rate	0.25%
Quarterly principal payments due	$ 1,649
Last quarterly payment date	Dec. 31, 2024
Final principal payment	$ 613,351
Incurred debt issue costs		$ 4,962
Wrote-off of unamortized debt issuance costs		780
Debt amendment, legal and other fees		$ 704
Amended Senior Secured Credit Facility | Term Loan Credit facility
Debt Instrument [Line Items]
Final principal payment due date	Mar. 29, 2025

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Summary of Recognition of Revenue Related To Deferred Revenue (Detail) $ in Thousands	Sep. 30, 2019 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2019-10-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2020-10-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2021-10-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2022-10-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2023-10-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2024-10-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period
NCM Screen Advertising Advances
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Revenue remaining performance obligation, amount	$ 276,985
NCM Screen Advertising Advances | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2019-10-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Revenue remaining performance obligation, amount	$ 15,912
NCM Screen Advertising Advances | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2020-10-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Revenue remaining performance obligation, amount	$ 15,917
NCM Screen Advertising Advances | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2021-10-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Revenue remaining performance obligation, amount	$ 15,917
NCM Screen Advertising Advances | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2022-10-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Revenue remaining performance obligation, amount	$ 15,917
NCM Screen Advertising Advances | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2023-10-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Revenue remaining performance obligation, amount	$ 15,917
NCM Screen Advertising Advances | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2024-10-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period
Revenue remaining performance obligation, amount	$ 197,405

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Selected Financial Information by Geographic Area (Detail) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues		$ 821,817	$ 754,235	$ 2,494,296	$ 2,423,259
Theatre Properties and Equipment - net	[1]	1,682,401		1,682,401		$ 1,833,133
Reportable Geographical Components | U.S.
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues		636,628	585,536	1,941,545	1,897,664
Theatre Properties and Equipment - net	[1]	1,408,052		1,408,052		1,479,603
Reportable Geographical Components | Brazil
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues		79,776	65,152	240,263	218,265
Theatre Properties and Equipment - net	[1]	111,297		111,297		140,570
Reportable Geographical Components | Other international countries
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues		108,996	106,808	323,246	317,302
Theatre Properties and Equipment - net	[1]	163,052		163,052		$ 212,960
Eliminations
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues		$ (3,583)	$ (3,261)	$ (10,758)	$ (9,972)

[1] See Note 3 for discussion of impact of ASC Topic 842 on capital lease assets.

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Supplemental Information to Condensed Consolidated Statements of Cash Flows (Detail) - USD ($) $ in Thousands		3 Months Ended												9 Months Ended
		Sep. 30, 2019		Jun. 30, 2019	[2]	Mar. 31, 2019		Sep. 30, 2018		Jun. 30, 2018	[2]	Mar. 31, 2018	[2]	Sep. 30, 2019	Sep. 30, 2018
Schedule Of Cash Flow Supplemental [Line Items]
Cash paid for interest														$ 56,326	$ 62,773
Cash paid for income taxes, net of refunds received														69,498	42,631
Noncash investing and financing activities:
Change in accounts payable and accrued expenses for the acquisition of theatre properties and equipment	[1]													(13,642)	7,050
Theatre properties acquired under capital lease															4,035
Investment in NCM – receipt of common units (see Note 8)						$ 1,552								1,552	5,012
Dividends accrued on unvested restricted stock unit awards		$ (189)	[2]	$ (189)		$ (108)	[2]	$ (145)	[2]	$ (146)		$ (125)		(486)	(416)
NCM
Noncash investing and financing activities:
Interest expense - NCM (see Note 8)		$ (4,666)						$ (4,983)						$ (14,180)	$ (14,875)

[1] Additions to theatre properties and equipment included in accounts payable as of September 30, 2019 and December 31, 2018 were $23,362 and $37,004, respectively.

[2] (1) Below is a summary of dividends paid to stockholders and accrued on unvested restricted stock unit awards during the nine months ended September 30, 2019 and 2018:             Amount per Share           Declaration Date Record Date Payable Date   of Common Stock     Total   2/22/2019 3/8/2019 3/22/2019   $ 0.34     $ 39,905   5/23/2019 6/8/2019 6/24/2019     0.34       40,012   8/15/2019 9/4/2019 9/18/2019     0.34       40,021   Nine Months Ended September 30, 2019   $ 1.02     $ 119,938                         2/23/2018 3/8/2018 3/22/2018   $ 0.32     $ 37,471   5/25/2018 6/8/2018 6/22/2018     0.32       37,523   8/23/2018 9/4/2018 9/18/2018     0.32       37,530   Nine Months Ended September 30, 2018   $ 0.96     $ 112,524  

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Summary of Changes in Stockholders Equity (Parenthetical) (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Sep. 30, 2019	Sep. 30, 2018
Equity [Abstract]
Cumulative effect of change in accounting principle, taxes			$ 6,054			$ 13,079
Dividends paid to stockholders, per share	$ 0.34	$ 0.34	$ 0.34	$ 0.32	$ 0.32	$ 0.32
Declaration Date	Aug. 15, 2019	May 23, 2019	Feb. 22, 2019	Aug. 23, 2018	May 25, 2018	Feb. 23, 2018
Record Date	Sep. 04, 2019	Jun. 08, 2019	Mar. 08, 2019	Sep. 04, 2018	Jun. 08, 2018	Mar. 08, 2018
Payable Date	Sep. 18, 2019	Jun. 24, 2019	Mar. 22, 2019	Sep. 18, 2018	Jun. 22, 2018	Mar. 22, 2018
Amount per Share of Common Stock	$ 0.34	$ 0.34	$ 0.34	$ 0.32	$ 0.32	$ 0.32	$ 1.02	$ 0.96
Total	$ 40,021	$ 40,012	$ 39,905	$ 37,530	$ 37,523	$ 37,471	$ 119,938	$ 112,524

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Schedule of Minimum Cash Lease Payments (Detail) $ in Thousands	9 Months Ended
	Sep. 30, 2019 USD ($)
Cash paid for amounts included in the measurement of lease liabilities
Cash outflows for operating leases	$ 211,940
Cash outflows for finance leases - operating activities	5,756
Cash outflows for finance leases - financing activities	10,830
Real Estate
Non-cash amount of leased assets obtained in exchange for:
Operating lease liabilities	53,526
Equipment
Non-cash amount of leased assets obtained in exchange for:
Operating lease liabilities	$ 668

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Adoption of ASC Topic 842 - Lease Accounting - Additional Information (Detail) - USD ($) $ in Thousands		9 Months Ended
		Sep. 30, 2019		Jan. 01, 2019	Dec. 31, 2018
Lease [Line Items]
Operating lease right-of-use assets		$ 1,384,019	[1]		$ 0
Operating lease liabilities		1,445,167
Finance lease assets	[1],[2]	103,059
Finance lease liabilities		141,845
Theatres
Lease [Line Items]
Noncancelable lease payments payable under operating lease, lease not yet commenced		$ 258,453
Minimum | Theatres
Lease [Line Items]
Noncancelable operating and finance leases, term		10 years
Minimum | Equipment
Lease [Line Items]
Noncancelable operating leases, term		5 years
Maximum | Theatres
Lease [Line Items]
Noncancelable operating and finance leases, term		25 years
Maximum | Equipment
Lease [Line Items]
Noncancelable operating leases, term		12 years
ASC Topic 842
Lease [Line Items]
Deferred rent liabilities				$ (39,235)
Lease intangibles				(5,780)
Deferred lease incentive liabilities				(12,960)
Long-term prepaid rents				7,707
Operating lease right-of-use assets				1,491,245
Operating lease liabilities				1,545,210
Finance lease assets				57,440
Finance lease liabilities				57,440
ASC Topic 842 | Adjustment
Lease [Line Items]
Operating lease right-of-use assets				110,442
Operating lease liabilities				$ 126,376

[1] The operating lease right-of-use assets and liabilities recorded on the Company’s condensed consolidated balance sheet generally do not include renewal options that have not yet been exercised.  The Company does not consider a lease renewal as reasonably certain until immediately before the necessary notification is provided to the landlord.

[2] Finance lease assets are net of accumulated amortization of $57,506 as of September 30, 2019.

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Schedule of Aggregate Lease Costs by Lease Classification (Parenthetical) (Detail) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2019
Lease Cost [Line Items]
Lease payments		$ 211,940
Equipment | Utilities and Other
Lease Cost [Line Items]
Short term lease payments	$ 452	1,808
Real Estate | Facility Lease Expense
Lease Cost [Line Items]
Variable lease payments	18,591	54,209
Lease payments	$ 400	$ 1,184

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Related Party Transactions

9 Months Ended

Sep. 30, 2019

Related Party Transactions [Abstract]

Related Party Transactions

17. Related Party Transactions

The Company manages theatres for Laredo Theatre, Ltd. (“Laredo”). The Company is the sole general partner and owns 75% of the limited partnership interests of Laredo. Lone Star Theatres, Inc. owns the remaining 25% of the limited partnership interests in Laredo and is 100% owned by Mr. David Roberts, Lee Roy Mitchell’s son-in-law. Lee Roy Mitchell is the Company’s Chairman of the Board of Directors and directly and indirectly owns approximately 8% of the Company’s common stock. Under the agreement, management fees are paid by Laredo to the Company at a rate of 5% of annual theatre revenues up to $50,000 and 3% of annual theatre revenues in excess of $50,000. The Company recorded $539 and $488 of management fee revenues during the nine months ended September 30, 2019 and 2018, respectively. All such amounts are included in the Company’s condensed consolidated financial statements with the intercompany amounts eliminated in consolidation.

The Company has an Aircraft Time Sharing Agreement with Copper Beech Capital, LLC (“Copper Beech”) to use, on occasion, a private aircraft owned by Copper Beech. Copper Beech is owned by Mr. Mitchell and his wife, Tandy Mitchell. The private aircraft is used by Mr. Mitchell and other executives who accompany Mr. Mitchell to business meetings for the Company. The Company reimburses Copper Beech for the actual costs of fuel usage and the expenses of the pilots, landing fees, storage fees and similar expenses incurred during the trip.  For the nine months ended September 30, 2019 and 2018, the aggregate amounts paid to Copper Beech for the use of the aircraft was $111 and $51, respectively.

The Company leases 14 theatres and one parking facility from Syufy Enterprises, LP (“Syufy”) or affiliates of Syufy. Raymond Syufy is one of the Company’s directors and is an officer of the general partner of Syufy. Of these 15 leases, 14 have fixed minimum annual rent. The one lease without minimum annual rent has rent based upon a specified percentage of gross sales as defined in the lease. For the nine months ended September 30, 2019 and 2018, the Company paid total rent of approximately $20,006 and $19,465, respectively, to Syufy.  During 2019, the Company began providing digital equipment support to drive-in theatres owned by Syufy.  The Company billed approximately $36 related to these services during the nine months ended September 30, 2019.  

The Company has a 50% voting interest in FE Concepts, a joint venture with AWSR, an entity owned by Lee Roy Mitchell and Tandy Mitchell.  FE Concepts will develop and operate a family entertainment center that offers bowling, gaming, movies and other amenities.  See Note 9 for further discussion.  

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Fair Value Measurements

9 Months Ended

Sep. 30, 2019

Fair Value Disclosures [Abstract]

Fair Value Measurements

13. Fair Value Measurements

The Company determines fair value measurements in accordance with ASC Topic 820, which establishes a fair value hierarchy under which an asset or liability is categorized based on the lowest level of input significant to its fair value measurement. The levels of input defined by ASC Topic 820 are as follows:

Level 1 – quoted market prices in active markets for identical assets or liabilities that are accessible at the measurement date;

Level 2 – other than quoted market prices included in Level 1 that are observable for the asset or liability, either directly or indirectly; and

Level 3 – unobservable and should be used to measure fair value to the extent that observable inputs are not available.

Below is a summary of liabilities measured at fair value on a recurring basis by the Company under FASB ASC Topic 820 as of September 30, 2019:

	Carry			Fair Value
Description	Value			Level 1		Level 2		Level 3
Interest rate swap liabilities (1)	$	(18,988	)	$	—	$	—	$	(18,988	)

(1) See further discussion of interest rate swaps at Note 6.

Below is a summary of liabilities measured at fair value on a recurring basis by the Company under FASB ASC Topic 820 as of December 31, 2018:

	Carry			Fair Value
Description	Value			Level 1		Level 2		Level 3
Interest rate swap liabilities (1)	$	(5,093	)	$	—	$	—	$	(5,093	)

(1) See further discussion of interest rate swaps at Note 6.

Below is a reconciliation of the beginning and ending balance for liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3):

	Liabilities (1)
	2019
Beginning balance - January 1	$	5,093
Total loss included in accumulated other comprehensive loss		15,036
Settlements included in interest expense		(1,141	)
Ending balance - September 30	$	18,988

(1) Represents interest rate swap liabilities.  See further discussion of interest rate swaps at Note 6.

The Company uses the market approach for fair value measurements on a nonrecurring basis in the impairment evaluations of its long-lived assets (see Note 11 and Note 12). See additional explanation of fair value measurement techniques used for long-lived assets, goodwill and intangible assets in “Critical Accounting Policies” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018, filed February 28, 2019.  There were no changes in valuation techniques and there were no transfers in or out of Level 1, Level 2 or Level 3 during the nine months ended September 30, 2019.  

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Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2019

Earnings Per Share [Abstract]

Earnings Per Share

The following table presents computations of basic and diluted earnings per share under the two-class method:

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2019			2018			2019			2018
Numerator:
Net income attributable to Cinemark Holdings, Inc.	$	31,353		$	50,228		$	165,052		$	194,384
Earnings allocated to participating share-based awards (1)		(211	)		(304	)		(1,012	)		(1,123	)
Net income attributable to common stockholders	$	31,142		$	49,924		$	164,040		$	193,261
Denominator (shares in thousands):
Basic weighted average common stock outstanding		116,356			116,119			116,288			116,032
Common equivalent shares for restricted stock units		244			203			289			256
Diluted common equivalent shares		116,600			116,322			116,577			116,288
Basic earnings per share attributable to common stockholders	$	0.27		$	0.43		$	1.41		$	1.66
Diluted earnings per share attributable to common stockholders	$	0.27		$	0.43		$	1.41		$	1.66

(1) For the three months ended September 30, 2019 and 2018, a weighted average of approximately 793 and 708 shares of restricted stock, respectively, were considered participating securities.  For the nine months ended September 30, 2019 and 2018, a weighted average of approximately 719 and 677 shares of restricted stock, respectively, were considered participating securities.  

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Summary of Recognition of Revenue Related To Deferred Revenue (Detail 1) $ in Thousands	Sep. 30, 2019 USD ($)
NCM Screen Advertising Advances
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Revenue remaining performance obligation, amount	$ 276,985

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Related Party Transactions - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2019 USD ($) Theatre Facility Lease	Sep. 30, 2018 USD ($)
FE Concepts, LLC
Related Party Transaction [Line Items]
Percentage of voting interest	50.00%
Laredo Theatre, Ltd
Related Party Transaction [Line Items]
Company's interest in Laredo	75.00%
Lone Star Theatre's interest in Laredo	25.00%
Ownership interest held by David Roberts	100.00%
Percentage of common stock held by Chairman of the Board of Directors	8.00%
Percentage of management fees based on theatre revenues	5.00%
Maximum amount of theater revenue used to calculate management fees	$ 50,000,000
Percentage of management fees based on theatre revenues in excess	3.00%
Minimum amount of theater revenue used to calculate management fees	$ 50,000,000
Management fee revenues	539,000	$ 488,000
Copper Beech Capital LLC
Related Party Transaction [Line Items]
Amount paid for the use of aircraft	$ 111,000	51,000
Syufy Enterprises, LP
Related Party Transaction [Line Items]
Number of theatres leased | Theatre	14
Number of parking facilities leased | Facility	1
Total number of leases | Lease	15
Number of leases with minimum annual rent | Lease	14
Number of leases without minimum annual rent | Lease	1
Total rent paid to Syufy	$ 20,006,000	$ 19,465,000
Amount billed for digital support provided to Syufy	$ 36,000

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Supplemental Information to Condensed Consolidated Statements of Cash Flows (Parenthetical) (Detail) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2019	Dec. 31, 2018
Supplemental Cash Flow Elements [Abstract]
Additions to theatre properties and equipment included in accounts payable	$ 23,362	$ 37,004

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Summary of Activity with NCM Included in Company's Consolidated Financial Statements (Detail) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Schedule Of Equity Method Investments [Line Items]
Receipt of common units due to annual common unit adjustment ("CUA")				$ 1,552
Equity in earnings		$ 15,139	$ 14,158	33,982	$ 29,208
NCM
Schedule Of Equity Method Investments [Line Items]
Beginning Balance				275,592
Beginning Balance				(287,349)
Equity in earnings		9,050	$ 6,830	14,062	$ 11,341
Ending Balance		272,756		272,756
Ending Balance		(276,985)		(276,985)
Investment In NCM
Schedule Of Equity Method Investments [Line Items]
Beginning Balance				275,592
Receipt of common units due to annual common unit adjustment ("CUA")				1,552
Receipt of excess cash distributions				(16,126)
Receipt of cash under tax receivable agreement				(2,324)
Equity in earnings				14,062
Ending Balance		272,756		272,756
NCM Screen Advertising Advances
Schedule Of Equity Method Investments [Line Items]
Beginning Balance				(287,349)
Receipt of common units due to annual common unit adjustment ("CUA")				(1,552)
Ending Balance		(276,985)		(276,985)
NCM Screen Advertising Advances | NCM
Schedule Of Equity Method Investments [Line Items]
Receipt of common units due to annual common unit adjustment ("CUA")	[1]			1,552
Amortization of deferred revenue				11,916
Distributions from NCM
Schedule Of Equity Method Investments [Line Items]
Receipt of excess cash distributions				(8,009)
Receipt of cash under tax receivable agreement				(1,159)
Ending Balance		(9,168)		(9,168)
Equity in Earnings
Schedule Of Equity Method Investments [Line Items]
Ending Balance		(14,062)		(14,062)
Equity in Earnings | NCM
Schedule Of Equity Method Investments [Line Items]
Equity in earnings				(14,062)
Other Revenues
Schedule Of Equity Method Investments [Line Items]
Revenues earned under ESA	[2],[3]			(22,151)
Revenues earned under amendment to ESA	[3],[4]			(1,482)
Total Revenues		(35,549)		(35,549)
Other Revenues | NCM
Schedule Of Equity Method Investments [Line Items]
Amortization of deferred revenue				(11,916)
Interest Expense - NCM
Schedule Of Equity Method Investments [Line Items]
Revenues earned under ESA	[2],[3]			13,392
Revenues earned under amendment to ESA	[3],[4]			788
Ending Balance	[3]	14,180		14,180
Cash Received (Paid)
Schedule Of Equity Method Investments [Line Items]
Revenues earned under ESA	[2],[3]			8,759
Revenues earned under amendment to ESA	[3],[4]			694
Receipt of excess cash distributions				24,135
Receipt of cash under tax receivable agreement				3,483
Total Cash Received		$ 37,071		$ 37,071

[1] See Note 8 for the maturity of balance as of September 30, 2019.

[2] Amount includes the per patron and per digital screen theatre access fees due to the Company prior to the first amendment to the Amended and Restated ESA, net of amounts paid to NCM for on-screen advertising time provided to the Company’s beverage concessionaire of approximately $8,808.

[3] Reflects impact of significant financing component related to amounts received in advance under the ESA and CUA agreements.  See also Notes 3 and 4.

[4] Reflects screen rental revenues earned after the amendment to the ESA.

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The Company and Basis of Presentation - Additional Information (Detail)	Sep. 30, 2019
Minimum
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Equity method investment, ownership percentage	20.00%
Maximum
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Equity method investment, ownership percentage	50.00%
Cost method investment, ownership Percentage	20.00%

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Schedule of Aggregate Lease Costs by Lease Classification (Detail) - USD ($) $ in Thousands		3 Months Ended	9 Months Ended
		Sep. 30, 2019	Sep. 30, 2019
Operating lease costs
Total operating lease costs		$ 89,718	$ 267,956
Finance lease costs
Total finance lease costs		5,625	17,109
Depreciation and Amortization
Finance lease costs
Amortization of leased assets		3,703	11,182
Interest Expense
Finance lease costs
Interest on lease liabilities		1,922	5,927
Equipment | Utilities and Other
Operating lease costs
Total operating lease costs	[1]	1,569	5,173
Real Estate | Facility Lease Expense
Operating lease costs
Total operating lease costs	[2],[3]	$ 88,149	$ 262,783

[1] Includes approximately $452 and $1,808 of short-term lease payments for the three and nine months ended September 30, 2019, respectively.

[2] Approximately $400 and $1,184 of lease payments are included in general and administrative expenses primarily related to office leases for the three and nine months ended September 30, 2019, respectively.

[3] Includes approximately $18,591 and $54,209 of variable lease payments based on a change in index, such as CPI or inflation, variable payments based on revenues or attendance and variable common area maintenance costs for the three and nine months ended September 30, 2019

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Schedule of Weighted-Average Remaining Lease Term and Discount Rate (Detail)	Sep. 30, 2019
Equipment
Lease [Line Items]
Weighted-average remaining lease term - Operating leases	4 years 1 month 6 days	[1]
Weighted-average remaining lease term - Finance leases	5 years 10 months 24 days	[1]
Weighted-average discount rate - Operating leases	4.30%	[2]
Weighted-average discount rate - Finance leases	5.50%	[2]
Real Estate
Lease [Line Items]
Weighted-average remaining lease term - Operating leases	7 years 10 months 24 days	[1]
Weighted-average remaining lease term - Finance leases	10 years 7 months 6 days	[1]
Weighted-average discount rate - Operating leases	4.80%	[2]
Weighted-average discount rate - Finance leases	5.20%	[2]

[1] The lease assets and liabilities recorded on the Company’s condensed consolidated balance sheet generally do not include renewal options that have not yet been executed.  The Company does not consider a lease renewal exercise as reasonably certain until immediately before the necessary notification is provided to the landlord.

[2] The discount rate for each lease represents the incremental borrowing rate at which the Company would borrow, on a collateralized basis, over a similar term and at an amount equal to the lease payments in a similar economic environment.

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Long Term Debt Activity (Tables)

9 Months Ended

Sep. 30, 2019

Debt Disclosure [Abstract]

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 September 30, 2019:

						Estimated
						Fair Value at
Notional						September 30,
Amount		Effective Date	Pay Rate	Receive Rate	Expiration Date	2019 (1)
$	137,500	December 31, 2018	2.75%	1-Month LIBOR	December 31, 2022	$	5,778
$	175,000	December 31, 2018	2.75%	1-Month LIBOR	December 31, 2022		7,346
$	137,500	December 31, 2018	2.77%	1-Month LIBOR	December 31, 2022		5,864
					Total	$	18,988

(1)   Approximately $3,746 of the total is included in accounts payable and accrued expenses and $15,242 is included in other long-term liabilities on the condensed consolidated balance sheet as of September 30, 2019.

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Commitments and Contingencies

9 Months Ended

Sep. 30, 2019

Commitments And Contingencies Disclosure [Abstract]

Commitments and Contingencies

18. Commitments and Contingencies

From time to time, the Company is involved in various legal proceedings arising from the ordinary course of its business operations, such as personal injury claims, employment matters, landlord-tenant disputes, patent claims and contractual disputes, some of which are covered by insurance. The Company believes its potential liability with respect to proceedings currently pending is not material, individually or in the aggregate, to the Company’s financial position, results of operations and cash flows.  

Silken Brown v. Cinemark USA, Inc., Case No. 3:13cv05669, In the United States District Court for the Northern District of California, San Francisco Division. The case presents putative class action claims for penalties and attorney's fees arising from alleged violations of the California wage statement law.  The claim is also asserted as a representative action under the California Private Attorney General Act (PAGA) for penalties. The Court granted class certification. The company denies the claims, denies that class certification is appropriate, denies that the plaintiff has standing to assert the claims alleged and is vigorously defending against the claims.  The Company denies any violation of law; however, to avoid the cost and uncertainty associated with litigation the Company and the plaintiff entered into a Joint Stipulation of Class Action Settlement and Release of Claims (the “Settlement Agreement”) to fully and finally dismiss all claims that would be brought in the case.  The Settlement Agreement was approved by the Court in September 2019.  The Company funded the appropriate amounts required under the Settlement Agreement with the administrator of the class claims in October 2019. 

Flagship Theatres of Palm Desert, LLC d/b/a Cinemas Palme D’Or v. Century Theatres, Inc., and Cinemark USA, Inc.; Superior Court of the State of California, County of Los Angeles.  Plaintiff in this case alleges that the Company violated California antitrust and unfair competition laws by engaging in “circuit dealing” with various motion picture distributors and tortiously interfered with Plaintiff’s business relationships.  Plaintiff seeks compensatory damages, trebling of those damages under California law, punitive damages, injunctive relief, attorneys’ fees, costs and interest.  Plaintiff also alleges that the Company’s conduct ultimately resulted in closure of its theatre in June 2016.  The Company denied the allegations.  In 2008, the Company moved for summary judgment on Plaintiff’s claims, arguing primarily that clearances between the theatres at issue were lawful and that Plaintiff lacked proof sufficient to support certain technical elements of its antitrust claims.  The trial court granted that motion and dismissed Plaintiff’s claims.  Plaintiff appealed and, in 2011, the Court of Appeal reversed, holding, among other things, that Plaintiff’s claims were not about the illegality of clearances but were focused, instead, on “circuit dealing.”  Having re-framed the claims in that manner, the Court of Appeal held that the trial court’s decision to limit discovery to the market where the theatres at issue operated was an error, as “circuit dealing” necessarily involves activities in different markets.  Upon return to the trial court, the parties engaged in additional, broadened discovery related to Plaintiff’s “circuit dealing” claim.  Thereafter, the Company moved again for summary judgment on all of Plaintiff’s claims.  That new motion for summary judgment was pending when, on or about April 11, 2014, the trial court granted the Company’s motion for terminating sanctions and entered a judgment dismissing the case with prejudice.  Plaintiff then appealed that second dismissal, seeking to have the judgment reversed and the case remanded to the trial court.  The Court of Appeal issued a ruling on May 24, 2016, reversing the granting of terminating sanctions and instead imposed a lesser evidentiary and damages preclusion sanction.  The case returned to the trial court on October 6, 2016.  On May 10, 2018, after a five-week jury trial, the jury found no liability on one circuit dealing claim and awarded Plaintiff damages on the other claim, which are tripled for antitrust damage awards.  Plaintiff would also be entitled to certain court costs and to seek at least some portion of its attorney’s fees.  During 2018, the Company recorded a litigation reserve based on the jury award, court costs and attorney’s fees.  The trial court denied a motion for a judgment notwithstanding the verdict and a motion for a new trial. The Company has appealed the judgment.  Although the Company denies that it engaged in any form of circuit dealing, it cannot predict the outcome of its pending motions or future appeals.

Civil Investigative Demand. The Company received a Civil Investigative Demand (“CID”) from the Antitrust Division of the United States Department of Justice. The CID relates to an investigation under Sections 1 and 2 of the Sherman Act. The Company also received CIDs from the Antitrust Section of the Office of the Attorney General of the State of Ohio and later from other states regarding similar inquiries under state antitrust laws. The CIDs request the Company to answer interrogatories, and produce documents, or both, related to the investigation of matters including film clearances, potential coordination and/or communication with other major theatre circuits and related joint ventures.  The Company intends to fully cooperate with all federal and state government agencies. Although the Company does not believe that it has violated any federal or state antitrust or competition laws, it cannot predict the ultimate scope, duration or outcome of these investigations.

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Foreign Currency Translation

9 Months Ended

Sep. 30, 2019

Foreign Currency [Abstract]

Foreign Currency Translation

14. Foreign Currency Translation

The accumulated other comprehensive loss account in stockholders’ equity of $349,381 and $319,007 as of September 30, 2019 and December 31, 2018, respectively, primarily includes cumulative foreign currency adjustments of $335,028 and $315,300, respectively, from translating the financial statements of the Company’s international subsidiaries and the cumulative changes in fair value of the Company’s interest rate swap agreements that are designated as hedges.

As of September 30, 2019, all foreign countries where the Company has operations, other than Argentina, are non-highly inflationary, and the local currency is the same as the functional currency in all of the locations. Thus, any fluctuation in the currency results in a cumulative foreign currency translation adjustment recorded to accumulated other comprehensive loss.  The Company deemed Argentina to be highly inflationary beginning July 1, 2018.  A highly inflationary economy is defined as an economy with a cumulative inflation rate of approximately 100 percent or more over a three-year period. If a country’s economy is classified as highly inflationary, the financial statements of the foreign entity operating in that country must be remeasured to the functional currency of the reporting entity.  The financial information of the Company’s Argentina subsidiaries has been remeasured in U.S. dollars in accordance with ASC Topic 830, Foreign Currency Matters, effective beginning July 1, 2018.  

Below is a summary of the impact of translating the September 30, 2019 financial statements of the Company’s international subsidiaries:

					Other Comprehensive Loss for
	Exchange Rate as of				Nine Months Ended
Country	September 30, 2019		December 31, 2018		September 30, 2019			September 30, 2018
Brazil		4.16		3.88	$	(14,492	)	$	(42,588	)
Argentina (1)		57.41		37.68		—			(18,272	)
Chile		727.65		694.74		(4,017	)		(4,822	)
Colombia		3,462.00		3,249.75		(1,507	)		70
Peru		3.40		3.39		(203	)		(891	)
All other						491			(338	)
					$	(19,728	)	$	(66,841	)

(1)   Beginning July 1, 2018, Argentina was deemed highly inflationary.  The impact of translating Argentina financial results to U.S. dollars, which was not significant, has been recorded in foreign currency exchange loss on the Company’s condensed consolidated statement of income.  

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CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Revenues
Total revenues		$ 821,817	$ 754,235	$ 2,494,296	$ 2,423,259
Cost of operations
Film rentals and advertising		254,911	230,121	759,693	758,242
Concession supplies		51,573	42,720	157,361	134,577
Salaries and wages		103,270	92,495	308,316	285,997
Facility lease expense		87,436	80,592	262,529	243,873
Utilities and other		123,877	112,832	357,210	337,866
General and administrative expenses		44,702	38,299	127,002	123,714
Depreciation and amortization	[1]	67,760	64,971	196,795	193,656
Impairment of long-lived assets		27,304	1,641	45,382	5,020
Loss on disposal of assets and other		2,453	7,826	8,057	28,666
Total cost of operations		763,286	671,497	2,222,345	2,111,611
Operating income		58,531	82,738	271,951	311,648
Other income (expense)
Interest expense	[1],[2]	(24,967)	(27,144)	(75,037)	(82,725)
Loss on debt amendments and refinancing					(1,484)
Interest income		3,903	2,761	10,062	7,861
Foreign currency exchange loss		(4,406)	(3,126)	(4,785)	(6,947)
Equity in income of affiliates		15,139	14,158	33,982	29,208
Total other expense		(12,523)	(15,948)	(40,790)	(56,794)
Income before income taxes		46,008	66,790	231,161	254,854
Income taxes		14,053	16,169	64,152	59,592
Net income		31,955	50,621	167,009	195,262
Less: Net income attributable to noncontrolling interests		602	393	1,957	878
Net income attributable to Cinemark Holdings, Inc.		$ 31,353	$ 50,228	$ 165,052	$ 194,384
Weighted average shares outstanding
Basic		116,356	116,119	116,288	116,032
Diluted		116,600	116,322	116,577	116,288
Earnings per share attributable to Cinemark Holdings, Inc.'s common stockholders
Basic		$ 0.27	$ 0.43	$ 1.41	$ 1.66
Diluted		$ 0.27	$ 0.43	$ 1.41	$ 1.66
NCM
Other income (expense)
Distributions from NCM		$ 2,474	$ 2,386	$ 9,168	$ 12,168
Interest expense - NCM		(4,666)	(4,983)	(14,180)	(14,875)
Equity in income of affiliates		9,050	6,830	14,062	11,341
Admissions
Revenues
Total revenues		454,429	427,616	1,371,041	1,389,110
Concession
Revenues
Total revenues		289,477	264,165	886,083	831,243
Other
Revenues
Total revenues		$ 77,911	$ 62,454	$ 237,172	$ 202,906

[1] Amounts for the three and nine months ended September 30, 2019 were impacted by the adoption of ASC Topic 842 and the resulting change in the classification of certain of the Company’s leases

[2] Includes amortization of debt issue costs.

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Equity (Tables)

9 Months Ended

Sep. 30, 2019

Equity [Abstract]

Summary of Changes in Stockholders' Equity

Below is a summary of changes in stockholders’ equity attributable to Cinemark Holdings, Inc., noncontrolling interests and total equity for the three and nine months ended September 30, 2019 and 2018:

	Common  Stock		Treasury Stock			Additional Paid-In-Capital		Retained Earnings			Accumulated Other Comprehensive Income (Loss)			Total Cinemark Holdings, Inc. Stockholders’ Equity			Noncontrolling Interests			Total Equity
Balance at January 1, 2019	$	121	$	(79,259	)	$	1,155,424	$	686,459		$	(319,007	)	$	1,443,738		$	12,379		$	1,456,117
Cumulative effect of change in accounting principle, net of taxes of $6,054 (see Note 3)		—		—			—		16,985			—			16,985			—			16,985
Issuance of share based awards and share based awards compensation expense		—		—			2,970		—			—			2,970			—			2,970
Stock withholdings related to share based awards that vested during the three months ended March 31, 2019		—		(1,947	)		—		—			—			(1,947	)		—			(1,947	)
Dividends paid to stockholders, $0.34 per common share (1)		—		—			—		(39,797	)		—			(39,797	)		—			(39,797	)
Dividends paid to noncontrolling interests		—		—			—		—			—			—			(1,000	)		(1,000	)
Dividends accrued on unvested restricted stock unit awards (1)		—		—			—		(108	)		—			(108	)		—			(108	)
Net income		—		—			—		32,728			—			32,728			465			33,193
Other comprehensive loss in equity method investees		—		—			—		—			(71	)		(71	)		—			(71	)
Unrealized loss due to fair value adjustments on interest rate swap agreements, net of taxes, net of settlements		—		—			—		—			(3,311	)		(3,311	)		—			(3,311	)
Foreign currency translation adjustments		—		—			—		—			755			755			—			755
Balance at March 31, 2019		121		(81,206	)		1,158,394		696,267			(321,634	)		1,451,942			11,844			1,463,786
Issuance of share based awards and share based awards compensation expense		1		—			3,676		—			—			3,677			—			3,677
Stock withholdings related to share based awards that vested during the three months ended June 30, 2019		—		(300	)		—		—			—			(300	)		—			(300	)
Dividends paid to stockholders, $0.34 per common share (1)		—		—			—		(39,823	)		—			(39,823	)		—			(39,823	)
Dividends paid to noncontrolling interests		—		—			—		—			—			—			(294	)		(294	)
Dividends accrued on unvested restricted stock unit awards (1)		—		—			—		(189	)		—			(189	)		—			(189	)
Net income		—		—			—		100,971			—			100,971			890			101,861
Other comprehensive loss in equity method investees		—		—			—		—			(22	)		(22	)		—			(22	)
Unrealized loss due to fair value adjustments on interest rate swap agreements, net of taxes, net of settlements		—		—			—		—			(5,902	)		(5,902	)		—			(5,902	)
Foreign currency translation adjustments		—		—			—		—			4,925			4,925			—			4,925
Balance at June 30, 2019		122		(81,506	)		1,162,070		757,226			(322,633	)		1,515,279			12,440			1,527,719
Issuance of share based awards and share based awards compensation expense		—		—			3,840		—						3,840						3,840
Dividends paid to stockholders, $0.34 per common share (1)		—		—			—		(39,832	)		—			(39,832	)		—			(39,832	)
Dividends paid to noncontrolling interests		—		—			—		—			—			—			(294	)		(294	)
Dividends accrued on unvested restricted stock unit awards (1)		—		—			—		(189	)		—			(189	)		—			(189	)
Net income		—		—			—		31,353			—			31,353			602			31,955
Other comprehensive loss in equity method investees		—		—			—		—			(49	)		(49	)		—			(49	)
Unrealized loss due to fair value adjustments on interest rate swap agreements, net of taxes, net of settlements		—		—			—		—			(1,291	)		(1,291	)		—			(1,291	)
Foreign currency translation adjustments		—		—			—		—			(25,408	)		(25,408	)		—			(25,408	)
Balance at September 30, 2019	$	122	$	(81,506	)	$	1,165,910	$	748,558		$	(349,381	)	$	1,483,703		$	12,748		$	1,496,451

	Common  Stock		Treasury Stock			Additional Paid-In-Capital		Retained Earnings			Accumulated Other Comprehensive Income (Loss)			Total Cinemark Holdings, Inc. Stockholders’ Equity			Noncontrolling Interests		Total Equity
Balance at January 1, 2018	$	121	$	(76,354	)	$	1,141,088	$	582,222		$	(253,282	)	$	1,393,795		$	11,893	$	1,405,688
Cumulative effect of change in accounting principle, net of taxes of $13,079		—		—			—		40,526			—			40,526			—		40,526
Issuance of share based awards and share based awards compensation expense		—		—			3,426					—			3,426			—		3,426
Stock withholdings related to share based awards that vested during the three months ended March 31, 2018		—		(2,695	)		—		—			—			(2,695	)		—		(2,695	)
Dividends paid to stockholders, $0.32 per common share (1)		—		—			—		(37,346	)		—			(37,346	)		—		(37,346	)
Dividends accrued on unvested restricted stock unit awards (1)		—		—			—		(125	)		—			(125	)		—		(125	)
Net income		—		—			—		62,021			—			62,021			156		62,177
Other comprehensive income in equity method investees		—		—			—		—			136			136			—		136
Foreign currency translation adjustments		—		—			—		—			204			204			—		204
Balance at March 31, 2018		121		(79,049	)		1,144,514		647,298			(252,942	)		1,459,942			12,049		1,471,991
Issuance of share based awards and share based awards compensation expense		—		—			3,452		—			—			3,452			—		3,452
Stock withholdings related to share based awards that vested during the three months ended June 30, 2018		—		(210	)		—		—			—			(210	)		—		(210	)
Dividends paid to stockholders, $0.32 per common share (1)		—		—			—		(37,377	)		—			(37,377	)		—		(37,377	)
Dividends accrued on unvested restricted stock unit awards (1)		—		—			—		(146	)		—			(146	)		—		(146	)
Net income		—		—			—		82,135			—			82,135			329		82,464
Other comprehensive loss in equity method investees		—		—			—		—			(116	)		(116	)		—		(116	)
Foreign currency translation adjustments		—		—			—		—			(56,248	)		(56,248	)		—		(56,248	)
Balance at June 30, 2018		121		(79,259	)		1,147,966		691,910			(309,306	)		1,451,432			12,378		1,463,810
Issuance of share based awards and share based awards compensation expense		—		—			3,486		—			—			3,486			—		3,486
Dividends paid to stockholders, $0.32 per common share (1)		—		—			—		(37,385	)		—			(37,385	)		—		(37,385	)
Dividends accrued on unvested restricted stock unit awards (1)		—		—			—		(145	)		—			(145	)		—		(145	)
Net income		—		—			—		50,228			—			50,228			393		50,621
Other comprehensive loss in equity method investees		—		—			—		—			(63	)		(63	)		—		(63	)
Foreign currency translation adjustments		—		—			—		—			(10,797	)		(10,797	)		—		(10,797	)
Balance at September 30, 2018	$	121	$	(79,259	)	$	1,151,452	$	704,608		$	(320,166	)	$	1,456,756		$	12,771	$	1,469,527

(1) Below is a summary of dividends paid to stockholders and accrued on unvested restricted stock unit awards during the nine months ended September 30, 2019 and 2018:  

			Amount per Share
Declaration Date	Record Date	Payable Date	of Common Stock		Total
2/22/2019	3/8/2019	3/22/2019	$	0.34	$	39,905
5/23/2019	6/8/2019	6/24/2019		0.34		40,012
8/15/2019	9/4/2019	9/18/2019		0.34		40,021
Nine Months Ended September 30, 2019			$	1.02	$	119,938
2/23/2018	3/8/2018	3/22/2018	$	0.32	$	37,471
5/25/2018	6/8/2018	6/22/2018		0.32		37,523
8/23/2018	9/4/2018	9/18/2018		0.32		37,530
Nine Months Ended September 30, 2018			$	0.96	$	112,524

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Goodwill and Other Intangible Assets (Tables)

9 Months Ended

Sep. 30, 2019

Goodwill And Intangible Assets Disclosure [Abstract]

Summary of Goodwill

The Company’s goodwill was as follows:

	U.S. Operating Segment		International Operating Segment			Total
Balance at January 1, 2019 (1)	$	1,174,041	$	102,283		$	1,276,324
Theatres acquired in the US and Brazil (2)		8,812		869			9,681
Foreign currency translation adjustments		—		(4,651	)		(4,651	)
Balance at September 30, 2019 (1)	$	1,182,853	$	98,501		$	1,281,354

(1) Balances are presented net of accumulated impairment losses of $214,031 for the U.S. operating segment and $27,622 for the international operating segment.

(2) Amount represents final purchase price allocation for two theatres acquired in the U.S. during 2019 and the final purchase price allocation adjustment for theatres acquired in Brazil during 2018.

Intangible Assets

Intangible assets consisted of the following:

	Balance at January 1, 2019			Impact of Adoption of ASC Topic 842 (1)			Amortization			Other (2)			Balance at September 30, 2019
Intangible assets with finite lives:
Gross carrying amount	$	105,256		$	(18,024	)	$	—		$	(2,501	)	$	84,731
Accumulated amortization		(74,603	)		13,597			(3,730	)		2,130			(62,606	)
Total net intangible assets with finite lives	$	30,653		$	(4,427	)	$	(3,730	)	$	(371	)	$	22,125
Intangible assets with indefinite lives:
Tradename and other		300,257		―			―				289			300,546
Total intangible assets — net	$	330,910		$	(4,427	)	$	(3,730	)	$	(82	)	$	322,671

(1) See Note 3 for further discussion of the impact of adoption of ASC Topic 842.

(2) Amount represents the write-off of fully amortized intangible assets related to non-compete agreements, the acquisition of tradeable liquor licenses, fair values allocated to intangible assets acquired as part of acquisitions of two theatres in the U.S. and foreign currency translation adjustments.

Estimated Aggregate Future Amortization Expense for Intangible Assets

Estimated aggregate future amortization expense for intangible assets is as follows:

For the three months ended December 31, 2019	$	1,254
For the twelve months ended December 31, 2020		4,986
For the twelve months ended December 31, 2021		3,150
For the twelve months ended December 31, 2022		3,116
For the twelve months ended December 31, 2023		3,083
Thereafter		6,536
Total	$	22,125

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The Company and Basis of Presentation

9 Months Ended

Sep. 30, 2019

Accounting Policies [Abstract]

The Company and Basis of Presentation

1. The Company and Basis of Presentation

Cinemark Holdings, Inc. and subsidiaries (the “Company”) operates in the motion picture exhibition industry, with theatres in the United States (“U.S.”), Brazil, Argentina, Chile, Colombia, Peru, Ecuador, Honduras, El Salvador, Nicaragua, Costa Rica, Panama, Guatemala, Bolivia, Curacao and Paraguay.

The accompanying condensed consolidated balance sheet as of December 31, 2018, which was derived from audited financial statements, and the unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete consolidated financial statements. In the opinion of management, all adjustments, consisting of normal recurring adjustments, considered necessary for a fair presentation have been included. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and the accompanying notes. Actual results could differ from these estimates. Majority-owned subsidiaries that the Company has control of are consolidated while those affiliates of which the Company owns between 20% and 50% and does not control are accounted for under the equity method. Those affiliates of which the Company owns less than 20% are generally accounted for under the cost method, unless the Company is deemed to have the ability to exercise significant influence over the affiliate, in which case the Company would account for its investment under the equity method. The results of these subsidiaries and affiliates are included in the condensed consolidated financial statements effective with their formation or from their dates of acquisition. Intercompany balances and transactions are eliminated in consolidation.  

These condensed consolidated financial statements should be read in conjunction with the audited annual consolidated financial statements and the notes thereto for the year ended December 31, 2018, included in the Annual Report on Form 10-K filed February 28, 2019 by the Company under the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Operating results for the three and nine months ended September 30, 2019 are not necessarily indicative of the results to be achieved for the full year.

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Supplemental Cash Flow Information (Tables)

9 Months Ended

Sep. 30, 2019

Supplemental Cash Flow Elements [Abstract]

Supplemental Information to Condensed Consolidated Statements of Cash Flows

The following is provided as supplemental information to the condensed consolidated statements of cash flows:

	Nine Months Ended
	September 30,
	2019			2018
Cash paid for interest	$	56,326		$	62,773
Cash paid for income taxes, net of refunds received	$	69,498		$	42,631
Noncash investing and financing activities:
Change in accounts payable and accrued expenses for the acquisition of theatre properties and equipment (1)	$	(13,642	)	$	7,050
Theatre properties acquired under capital lease	$	—		$	4,035
Interest expense - NCM (see Note 8)	$	(14,180	)	$	(14,875	)
Investment in NCM – receipt of common units (see Note 8)	$	1,552		$	5,012
Dividends accrued on unvested restricted stock unit awards	$	(486	)	$	(416	)

(1) Additions to theatre properties and equipment included in accounts payable as of September 30, 2019 and December 31, 2018 were $23,362 and $37,004, respectively.

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Treasury Stock and Share Based Awards

9 Months Ended

Sep. 30, 2019

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Treasury Stock and Share Based Awards

10. Treasury Stock and Share Based Awards

Treasury Stock — Treasury stock represents shares of common stock repurchased or withheld by the Company and not yet retired. The Company has applied the cost method in recording its treasury shares.  Below is a summary of the Company’s treasury stock activity for the nine months ended September 30, 2019:

	Number of
	Treasury
	Shares		Cost
Balance at January 1, 2019		4,626,191	$	79,259
Restricted stock withholdings (1)		57,456		2,247
Restricted stock forfeitures		19,351	—
Balance at September 30, 2019		4,702,998	$	81,506

(1) The Company withheld restricted shares as a result of the election by certain employees to satisfy their tax liabilities upon vesting in restricted stock and restricted stock units.  The Company determined the number of shares to be withheld based upon market values ranging from $36.81 to $40.32 per share.

As of September 30, 2019, the Company had no plans to retire any shares of treasury stock.

Restricted Stock – During the nine months ended September 30, 2019, the Company granted 308,250 shares of restricted stock to its directors and employees. The fair value of the restricted stock granted was determined based on the market value of the Company’s common stock on the dates of grant, which ranged from $36.70 to $41.61 per share. The Company assumed forfeiture rates for the restricted stock awards that ranged from 0% to 10%.  The restricted stock awards vest over periods ranging from one to four years. The recipients of restricted stock are entitled to receive non-forfeitable dividends and to vote their respective shares, however, the sale and transfer of the restricted shares is prohibited during the restriction period.

Below is a summary of restricted stock activity for the nine months ended September 30, 2019:

	Shares of			Weighted Average
	Restricted			Grant Date
	Stock			Fair Value
Outstanding at January 1, 2019		704,353		$	38.68
Granted		308,250		$	37.42
Vested		(198,711	)	$	41.38
Forfeited		(19,351	)	$	37.41
Outstanding at September 30, 2019		794,541		$	37.55
Unvested restricted stock at September 30, 2019		794,541		$	37.55

	Nine Months Ended September 30,
	2019		2018
Compensation expense recognized during the period	$	7,456	$	7,266
Fair value of restricted shares that vested during the period	$	7,630	$	7,815
Income tax benefit recognized upon vesting of restricted stock awards	$	1,473	$	1,751

As of September 30, 2019, the estimated remaining unrecognized compensation expense related to unvested restricted stock awards was $17,998 and the weighted average period over which this remaining compensation expense will be recognized is approximately two years.

Restricted Stock Units – During the nine months ended September 30, 2019, the Company granted restricted stock units representing 306,651 hypothetical shares of common stock to employees. The restricted stock units vest based on a combination of financial performance factors and continued service. The financial performance factors are based on an implied equity value concept that determines an internal rate of return (“IRR”) during the two fiscal year periods ending December 31, 2020 based on a formula utilizing a multiple of Adjusted EBITDA subject to certain adjustments as specified by the Compensation Committee prior to the grant date. The financial performance factors for the restricted stock units have a threshold, target and maximum level of payment opportunity and vest on a prorata basis according to the IRR achieved by the Company during the performance period. If the IRR for the two-year period is at least 6%, which is the threshold, one-third of the maximum restricted stock units vest. If the IRR for the two-year period is at least 8%, which is the target, two-thirds of the maximum restricted stock units vest. If the IRR for the two-year period is at least 14%, which is the maximum, 100% of the maximum restricted stock units vest. Grantees are eligible to receive a ratable portion of the common stock issuable if the IRR is within the targets previously noted. Further, as an example, if the Company achieves an IRR equal to 11%, the number of restricted stock units that shall vest will be greater than the target but less than the maximum number that would have vested had the Company achieved the highest IRR.  All restricted stock units granted during 2019 will vest subject to an additional two-year service requirement and will be paid in the form of common stock if the participant continues to provide services through the fourth anniversary of the grant date. Restricted stock unit award participants are eligible to receive dividend equivalent payments from the grant date if, and at the time that, the restricted stock unit awards vest.  

Below is a table summarizing the potential number of shares that could vest under restricted stock unit awards granted during the nine months ended September 30, 2019 at each of the three target levels of financial performance (excluding forfeiture assumptions):

	Number of
	Shares		Value at
	Vesting		Grant
at IRR of at least 6%		136,285	$	5,011
at IRR of at least 8%		204,427	$	7,517
at IRR of at least 14%		306,651	$	11,276

Due to the fact that the IRR for the two-year performance period could not be determined at the time of the 2019 grant, the Company estimated that the most likely outcome is the achievement of the target IRR level. The fair value of the restricted stock unit awards was determined based on the closing price of the Company’s common stock on the date of grant, which was $36.77 per share. The Company assumed a forfeiture rate of 5% for the restricted stock unit awards. If during the service period, additional information becomes available to lead the Company to believe a different IRR level will be achieved for the two-year performance period, the Company will reassess the number of units that are expected to vest for the grant and adjust its compensation expense accordingly on a prospective basis over the remaining service period.

	Nine Months Ended September 30,
	2019		2018
Number of restricted stock unit awards that vested during the period		88,074		127,084
Fair value of restricted stock unit awards that vested during the period	$	3,550	$	4,846
Accumulated dividends paid upon vesting of restricted stock unit awards	$	375	$	526
Compensation expense recognized during the period	$	3,030	$	3,098
Income tax benefit recognized upon vesting of restricted stock unit awards	$	175	$	740

During the nine months ended September 30, 2019, the Company modified the performance target levels for the restricted stock unit awards granted during February 2017 and February 2018 for all participants other than certain executive officers.  The modification adjusted the threshold, target and maximum IRR levels from 7.0%, 9.5% and 13.0%, respectively, to 6.0%, 8.0% and

14.0%, respectively.  The Company accounted for the change in performance measures as modifications of each award, and recorded a reduction to compensation expense of $132 during the three months ended March 31, 2019.  Simultaneous with the modification of the restricted stock unit awards granted during February 2017, the Company determined that the final IRR reached for the respective measurement period was 9.3%, which resulted in a reduction in compensation expense of approximately $563.  

As of September 30, 2019, the estimated remaining unrecognized compensation expense related to the outstanding restricted stock unit awards was $11,128. The weighted average period over which this remaining compensation expense will be recognized is approximately two years. As of September 30, 2019, the Company had restricted stock units outstanding that represented a total of 554,529 hypothetical shares of common stock, net of forfeitures, assuming an IRR of 7.2% was achieved for the 2016 grants, an IRR of 9.3% was achieved for the 2017 grants, and the maximum IRR level is achieved for all other grants outstanding.

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Long Term Debt Activity

9 Months Ended

Sep. 30, 2019

Debt Disclosure [Abstract]

Long Term Debt Activity

6. Long Term Debt Activity

Senior Secured Credit Facility

On March 29, 2018, Cinemark USA, Inc., our wholly-owned subsidiary, amended its senior secured credit facility to extend the maturity of the term loan to March 29, 2025, reduce the rate at which the term loan bears interest by 0.25% and to reduce the amount of real property required to be mortgaged to secure the loans. Under the amended facility, quarterly principal payments of $1,649 are due on the term loan through December 31, 2024, with a final principal payment of $613,351 due on March 29, 2025. The Company incurred debt issue costs of approximately $4,962 in connection with the amendment.  As a result of the amendment, the Company wrote-off $780 of unamortized debt issue costs and incurred approximately $704 in legal and other fees, both of which are reflected as loss on debt amendments and refinancing on the condensed consolidated statements of income for the nine months ended September 30, 2018.  

Fair Value of Long-Term Debt

The Company estimates the fair value of its long-term debt using the market approach, which utilizes quoted market prices that fall under Level 2 of the U.S. GAAP fair value hierarchy as defined by ASC 820, Fair Value Measurement (“ASC Topic 820”). The carrying value of the Company’s long-term debt was $1,804,364 and $1,809,311 as of September 30, 2019 and December 31, 2018, respectively, excluding unamortized debt discounts and debt issue costs. The fair value of the Company’s long-term debt was $1,825,063 and $1,774,066 as of September 30, 2019 and December 31, 2018, respectively.

Interest Rate Swap Agreements

The Company is currently a party to three interest rate swap agreements that are used to hedge a portion of the interest rate risk associated with the variable interest rates on the Company’s term loan debt and that qualify for cash flow hedge accounting. The fair values of the interest rate swaps are recorded on the Company’s condensed consolidated balance sheet as an asset or liability with the related gains or losses reported as a component of accumulated other comprehensive loss. The changes in fair value are reclassified from accumulated other comprehensive loss into earnings in the same period that the hedged items affect earnings. The valuation technique used to determine fair value is the income approach.  Under this approach, the Company uses projected future interest rates as provided by counterparty to the interest rate swap agreement and the fixed rates that the Company is obligated to pay under the agreement. Therefore, the Company’s measurements use significant unobservable inputs, which fall in Level 3 of the U.S. GAAP hierarchy as defined by FASB ASC Topic 820-10-35. See Note 13 for a summary of unrealized gains or losses recorded in accumulated other comprehensive loss.

Below is a summary of the Company’s interest rate swap agreements designated as cash flow hedges as of September 30, 2019:

						Estimated
						Fair Value at
Notional						September 30,
Amount		Effective Date	Pay Rate	Receive Rate	Expiration Date	2019 (1)
$	137,500	December 31, 2018	2.75%	1-Month LIBOR	December 31, 2022	$	5,778
$	175,000	December 31, 2018	2.75%	1-Month LIBOR	December 31, 2022		7,346
$	137,500	December 31, 2018	2.77%	1-Month LIBOR	December 31, 2022		5,864
					Total	$	18,988

(1)   Approximately $3,746 of the total is included in accounts payable and accrued expenses and $15,242 is included in other long-term liabilities on the condensed consolidated balance sheet as of September 30, 2019.

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Transactions with DCIP (Detail) - Digital Cinema Implementation Partners - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Schedule Of Equity Method Investments [Line Items]
Equipment lease payments	$ 1,105	$ 1,229	$ 3,357	$ 3,689
Warranty reimbursements from DCIP	(2,953)	(2,791)	(8,842)	(7,909)
Management service fees	$ 128	$ 180	$ 438	$ 558

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Intangible Assets (Detail) $ in Thousands	9 Months Ended
	Sep. 30, 2019 USD ($)
Intangible Assets [Line Items]
Intangible assets with finite lives, Beginning balance	$ 105,256
Other, Gross carrying amount	(2,501)	[1]
Intangible assets with finite lives, Ending balance	84,731
Intangible assets with finite lives, Accumulated amortization, Beginning balance	(74,603)
Accumulated amortization	(3,730)
Other Accumulated Amortization of Intangible Assets	2,130	[1]
Intangible assets with finite lives, Accumulated amortization, Ending balance	(62,606)
Net intangible assets with finite lives, Beginning balance	30,653
Amortization, intangible assets	(3,730)
Other, Finite lived intangible assets	(371)	[1]
Net intangible assets with finite lives, Ending balance	22,125
Indefinite-lived Intangible Assets, Tradename and Other, Beginning Balance	300,257
Other, Tradename and Other	289	[1]
Indefinite-lived Intangible Assets, Tradename and Other, Ending Balance	300,546
Total intangible assets - net, Beginning balance	330,910
Other, Total intangible assets - net	(82)	[1]
Total intangible assets - net, Ending balance	322,671
ASC Topic 842
Intangible Assets [Line Items]
Impact of Adoption, Gross carrying amount	(18,024)	[2]
Impact of Adoption, Accumulated amortization	13,597	[2]
Impact of Adoption, Finite lived intangible assets	(4,427)	[2]
Impact of Adoption, Trade and other	0	[2]
Impact of Adoption, Total intangible assets - net	$ (4,427)	[2]

[1] Amount represents the write-off of fully amortized intangible assets related to non-compete agreements, the acquisition of tradeable liquor licenses, fair values allocated to intangible assets acquired as part of acquisitions of two theatres in the U.S. and foreign currency translation adjustments

[2] See Note 3 for further discussion of the impact of adoption of ASC Topic 842.

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Long-Lived Asset Impairment Charges (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Impaired Long-Lived Assets Held and Used [Line Items]
Impairment of long-lived assets	$ 27,304	$ 1,641	$ 45,382	$ 5,020
U.S. Operating Segment
Impaired Long-Lived Assets Held and Used [Line Items]
Theatre properties and equipment	24,502	1,553	26,754	3,331
Operating lease right-of-use assets	2,157		10,204
International Operating Segment
Impaired Long-Lived Assets Held and Used [Line Items]
Theatre properties and equipment	$ 645	$ 88	6,796	$ 1,689
Operating lease right-of-use assets			$ 1,628

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Summary of Restricted Stock Activity (Detail) - Restricted Stock	9 Months Ended
	Sep. 30, 2019 $ / shares shares
Shares of Restricted Stock
Shares of Restricted Stock, Beginning balance | shares	704,353
Shares of Restricted Stock, Granted | shares	308,250
Shares of Restricted Stock, Vested | shares	(198,711)
Shares of Restricted Stock, Forfeited | shares	(19,351)
Shares of Restricted Stock, Ending balance | shares	794,541
Shares of Restricted Stock, Unvested restricted stock | shares	794,541
Weighted Average Grant Date Fair Value
Weighted Average Grant Date Fair Value Outstanding, Beginning | $ / shares	$ 38.68
Weighted Average Grant Date Fair Value, Granted | $ / shares	37.42
Weighted Average Grant Date Fair Value, Vested | $ / shares	41.38
Weighted Average Grant Date Fair Value, Forfeited | $ / shares	37.41
Weighted Average Grant Date Fair Value Outstanding, Ending | $ / shares	37.55
Weighted Average Grant Date Fair Value, Unvested restricted stock | $ / shares	$ 37.55

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Long Term Debt Activity - Summary of Company's Interest Rate Swap Agreements Designated as Cash Flow Hedges (Detail) - Designated as Hedging Instrument - Cash Flow Hedging $ in Thousands	9 Months Ended
	Sep. 30, 2019 USD ($)
Debt Instrument [Line Items]
Estimated Fair Value	$ 18,988	[1]
Interest Rate Swap Agreement 1
Debt Instrument [Line Items]
Notional Amount	$ 137,500
Effective Date	Dec. 31, 2018
Pay Rate	2.75%
Receive Rate	1-Month LIBOR
Expiration Date	Dec. 31, 2022
Estimated Fair Value	$ 5,778	[1]
Interest Rate Swap Agreement 2
Debt Instrument [Line Items]
Notional Amount	$ 175,000
Effective Date	Dec. 31, 2018
Pay Rate	2.75%
Receive Rate	1-Month LIBOR
Expiration Date	Dec. 31, 2022
Estimated Fair Value	$ 7,346	[1]
Interest Rate Swap Agreement 3
Debt Instrument [Line Items]
Notional Amount	$ 137,500
Effective Date	Dec. 31, 2018
Pay Rate	2.77%
Receive Rate	1-Month LIBOR
Expiration Date	Dec. 31, 2022
Estimated Fair Value	$ 5,864	[1]

[1] Approximately $3,746 of the total is included in accounts payable and accrued expenses and $15,242 is included in other long-term liabilities on the condensed consolidated balance sheet as of September 30, 2019.

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Aggregate Amount of Transaction Price Allocated To Performance Obligation That Are Unsatisfied And Expected To Be Recognized (Detail 1) $ in Thousands	Sep. 30, 2019 USD ($)
Deferred Revenue
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Remaining performance obligations	$ 112,183

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Summary of Revenues Disaggregated Based on Major Type of Good or Service and by Reportable Operating Segment (Detail) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Disaggregation of Revenue [Line Items]
Total revenues		$ 821,817	$ 754,235	$ 2,494,296	$ 2,423,259
Admissions Revenues
Disaggregation of Revenue [Line Items]
Total revenues		454,429	427,616	1,371,041	1,389,110
Concession Revenues
Disaggregation of Revenue [Line Items]
Total revenues		289,477	264,165	886,083	831,243
Other Revenues
Disaggregation of Revenue [Line Items]
Total revenues		40,349	30,024	123,589	101,531
Screen Advertising, Screen Rental And Promotional Revenues
Disaggregation of Revenue [Line Items]
Total revenues		37,562		113,583
Screen Advertising and Promotional Revenues
Disaggregation of Revenue [Line Items]
Total revenues			32,430		101,375
U.S. Operating Segment
Disaggregation of Revenue [Line Items]
Total revenues	[1]	633,045	582,275	1,930,787	1,887,692
U.S. Operating Segment | Admissions Revenues
Disaggregation of Revenue [Line Items]
Total revenues	[1]	351,122	333,274	1,066,884	1,091,489
U.S. Operating Segment | Concession Revenues
Disaggregation of Revenue [Line Items]
Total revenues	[1]	230,415	207,960	704,727	661,328
U.S. Operating Segment | Other Revenues
Disaggregation of Revenue [Line Items]
Total revenues	[1]	30,394	22,031	95,180	76,635
U.S. Operating Segment | Screen Advertising, Screen Rental And Promotional Revenues
Disaggregation of Revenue [Line Items]
Total revenues	[1]	21,114		63,996
U.S. Operating Segment | Screen Advertising and Promotional Revenues
Disaggregation of Revenue [Line Items]
Total revenues	[1]		19,010		58,240
International Operating Segment
Disaggregation of Revenue [Line Items]
Total revenues		188,772	171,960	563,509	535,567
International Operating Segment | Admissions Revenues
Disaggregation of Revenue [Line Items]
Total revenues		103,307	94,342	304,157	297,621
International Operating Segment | Concession Revenues
Disaggregation of Revenue [Line Items]
Total revenues		59,062	56,205	181,356	169,915
International Operating Segment | Other Revenues
Disaggregation of Revenue [Line Items]
Total revenues		9,955	7,993	28,409	24,896
International Operating Segment | Screen Advertising, Screen Rental And Promotional Revenues
Disaggregation of Revenue [Line Items]
Total revenues		$ 16,448		$ 49,587
International Operating Segment | Screen Advertising and Promotional Revenues
Disaggregation of Revenue [Line Items]
Total revenues			$ 13,420		$ 43,135

[1] U.S. segment revenues include eliminations of intercompany transactions with the international operating segment.  See Note 16 for additional information on intercompany eliminations.

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Schedule of Operating and Finance Right-of-Use Assets and Lease Liabilities (Detail) - USD ($) $ in Thousands		Sep. 30, 2019		Dec. 31, 2018
Assets
Operating lease assets		$ 1,384,019	[1]	$ 0
Finance lease assets	[1],[2]	$ 103,059
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]		us-gaap:PropertyPlantAndEquipmentNet
Total lease assets	[1]	$ 1,487,078
Liabilities, Current
Operating		215,015	[1]	0
Finance	[1]	15,501
Liabilities, Noncurrent
Operating		1,230,152	[1]	$ 0
Finance	[1]	126,344
Total lease liabilities	[1]	$ 1,587,012

[1] The operating lease right-of-use assets and liabilities recorded on the Company’s condensed consolidated balance sheet generally do not include renewal options that have not yet been exercised.  The Company does not consider a lease renewal as reasonably certain until immediately before the necessary notification is provided to the landlord.

[2] Finance lease assets are net of accumulated amortization of $57,506 as of September 30, 2019.

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Schedule of Maturity of Lease Liabilities by Lease Classification (Detail) $ in Thousands	Sep. 30, 2019 USD ($)
Leases [Abstract]
Operating Leases, 2019	$ 70,137
Operating Leases, 2020	276,114
Operating Leases, 2021	258,827
Operating Leases, 2022	229,272
Operating Leases, 2023	198,799
Operating Leases, After 2023	704,440
Operating Leases, Total lease payments	1,737,589
Operating Leases, Less: Interest	292,422
Operating Leases, Present value of lease liabilities	1,445,167
Finance Leases, 2019	5,588
Finance Leases, 2020	22,373
Finance Leases, 2021	18,661
Finance Leases, 2022	17,925
Finance Leases, 2023	17,236
Finance Leases, After 2023	101,110
Finance Leases, Total lease payments	182,893
Finance Leases, Less: Interest	41,048
Finance Leases, Present value of lease liabilities	141,845
Total Leases, 2019	75,725
Total Leases, 2020	298,487
Total Leases, 2021	277,488
Total Leases, 2022	247,197
Total Leases, 2023	216,035
Total Leases, After 2023	805,550
Toatal Leases, Total lease payments	1,920,482
Total Leases, Less: Interest	333,470
Total Leases, Present value of lease liabilities	$ 1,587,012

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National CineMedia - Additional Information (Detail) $ / shares in Units, $ in Thousands	3 Months Ended			9 Months Ended
	Sep. 30, 2019 USD ($)	Mar. 31, 2019 USD ($) shares	Sep. 30, 2018 USD ($) $ / shares shares	Sep. 30, 2019 USD ($)	Sep. 30, 2018 USD ($) $ / shares shares
Schedule Of Equity Method Investments [Line Items]
Equity in earnings	$ 15,139		$ 14,158	$ 33,982	$ 29,208
Number of additional common units of NCM received under common unit adjustment agreement | shares		219,056
Value of common units received from NCM		$ 1,552		1,552	$ 5,012
Number of common units of NCM owned by Company | shares			39,737,700		39,737,700
Interest in common units of NCM owned by Company			25.00%		25.00%
Investment In NCM
Schedule Of Equity Method Investments [Line Items]
Equity in earnings				14,062
Common unit convertible into share of NCMI common stock, conversion ratio		1
Estimated fair value of investment using NCM's stock price			$ 325,849		$ 325,849
NCMI common stock price | $ / shares			$ 8.20		$ 8.20
NCM
Schedule Of Equity Method Investments [Line Items]
Remaining performance obligations	174,000			$ 174,000
Deferred revenue amortization year and month				2037-02
Equity in earnings	9,050		$ 6,830	$ 14,062	$ 11,341
Deferred revenue or NCM screen advertising advances extended term				2041-02
Recognized incremental screen advertising revenue and offsetting interest expense	$ 4,666		$ 4,983	$ 14,180	$ 14,875
NCM | Minimum
Schedule Of Equity Method Investments [Line Items]
Percentage of incremental borrowing rates				4.40%
NCM | Maximum
Schedule Of Equity Method Investments [Line Items]
Percentage of incremental borrowing rates				8.00%

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Reconciliation of Net Income to Adjusted EBITDA (Detail) - USD ($) $ in Thousands		3 Months Ended						9 Months Ended
		Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Sep. 30, 2019	Sep. 30, 2018
Segment Reporting Information [Line Items]
Net income		$ 31,955	$ 101,861	$ 33,193	$ 50,621	$ 82,464	$ 62,177	$ 167,009	$ 195,262
Add (deduct):
Income taxes		14,053			16,169			64,152	59,592
Interest expense	[1],[2]	24,967			27,144			75,037	82,725
Other income, net	[3]	(9,970)			(8,810)			(25,079)	(15,247)
Loss on debt amendments and refinancing									1,484
Distributions and other cash distributions from equity investees								28,163	21,041
Depreciation and amortization	[1]	67,760			64,971			196,795	193,656
Impairment of long-lived assets		27,304			1,641			45,382	5,020
Loss on disposal of assets and other		2,453			7,826			8,057	28,666
Non-cash rent expens	[4]	(1,102)						(3,252)
Deferred lease expenses	[1]				(20)				(952)
Amortization of long-term prepaid rents	[1]				578				1,814
Share based awards compensation expense		3,840			3,486			10,486	10,364
Adjusted EBITDA	[1]	169,758			168,392			566,750	583,425
Digital Cinema Implementation Partners
Add (deduct):
Distributions and other cash distributions from equity investees	[5]	2,694						7,912	5,201
Other Investees
Add (deduct):
Distributions and other cash distributions from equity investees	[6]	$ 5,804			$ 4,786			$ 20,251	$ 15,840

[1] Amounts for the three and nine months ended September 30, 2019 were impacted by the adoption of ASC Topic 842 and the resulting change in the classification of certain of the Company’s leases

[2] Includes amortization of debt issue costs.

[3] Includes interest income, foreign currency exchange loss, equity in income of affiliates and interest expense - NCM and excludes distributions from NCM.

[4] The adoption of ASC Topic 842 impacted how the Company amortizes lease related assets and liabilities such as deferred lease expenses, favorable and unfavorable lease intangible assets, long-term prepaid rents and deferred lease incentives.  Beginning January 1, 2019, these items are amortized to facility lease expense for theatre operating leases and utilities and other for equipment operating leases.  See Note 3 for discussion of the impact of ASC Topic 842

[5] See discussion of cash distributions from DCIP, which were recorded as a reduction of the Company’s investment in DCIP, at Note 9.

[6] Includes cash distributions received from equity investees, other than those from DCIP noted above, that were recorded as a reduction of the respective investment balances (see Notes 8 and 9).  These distributions are reported entirely within the U.S. operating segment.

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Summary of Impact of Translating Financial Statements of Company's International Subsidiaries (Detail) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2019 USD ($)	Sep. 30, 2018 USD ($)	Sep. 30, 2019 USD ($)	Sep. 30, 2018 USD ($)	Dec. 31, 2018
Foreign Currency Translation [Line Items]
Other comprehensive Income (Loss)		$ (25,408)	$ (10,797)	$ (19,728)	$ (66,841)
International Subsidiaries | Cinemark Holdings, Inc. Stockholders' Equity
Foreign Currency Translation [Line Items]
Other comprehensive Income (Loss)				$ (19,728)	(66,841)
Brazil
Foreign Currency Translation [Line Items]
Exchange Rate		4.16		4.16		3.88
Other comprehensive Income (Loss)				$ (14,492)	(42,588)
Argentina
Foreign Currency Translation [Line Items]
Exchange Rate	[1]	57.41		57.41		37.68
Other comprehensive Income (Loss)	[1]				(18,272)
Chile
Foreign Currency Translation [Line Items]
Exchange Rate		727.65		727.65		694.74
Other comprehensive Income (Loss)				$ (4,017)	(4,822)
Colombia
Foreign Currency Translation [Line Items]
Exchange Rate		3,462.00		3,462.00		3,249.75
Other comprehensive Income (Loss)				$ (1,507)	70
Peru
Foreign Currency Translation [Line Items]
Exchange Rate		3.40		3.40		3.39
Other comprehensive Income (Loss)				$ (203)	(891)
Other foreign countries
Foreign Currency Translation [Line Items]
Other comprehensive Income (Loss)				$ 491	$ (338)

[1] Beginning July 1, 2018, Argentina was deemed highly inflationary.  The impact of translating Argentina financial results to U.S. dollars, which was not significant, has been recorded in foreign currency exchange loss on the Company’s condensed consolidated statement of income.

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Summary of Changes in Stockholders Equity (Detail) - USD ($) $ in Thousands		3 Months Ended												9 Months Ended
		Sep. 30, 2019		Jun. 30, 2019		Mar. 31, 2019		Sep. 30, 2018		Jun. 30, 2018		Mar. 31, 2018		Sep. 30, 2019	Sep. 30, 2018
Shareholders Equity [Line Items]
Total Equity, Beginning Balance		$ 1,527,719		$ 1,463,786		$ 1,456,117		$ 1,463,810		$ 1,471,991		$ 1,405,688		$ 1,456,117	$ 1,405,688
Cumulative effect of change in accounting principle, net of taxes						16,985						40,526
Issuance of share based awards and share based awards compensation expense		3,840		3,677		2,970		3,486		3,452		3,426
Stock withholdings related to share based awards that vested				(300)		(1,947)				(210)		(2,695)
Dividends paid to stockholders	[1]	(39,832)		(39,823)		(39,797)		(37,385)		(37,377)		(37,346)
Dividends paid to noncontrolling interests		(294)		(294)		(1,000)
Dividends accrued on unvested restricted stock unit awards		(189)	[1]	(189)	[1]	(108)	[1]	(145)	[1]	(146)	[1]	(125)	[1]	(486)	(416)
Net income		31,955		101,861		33,193		50,621		82,464		62,177		167,009	195,262
Other comprehensive income (loss) in equity method investees		(49)		(22)		(71)		(63)		(116)		136		(142)	(43)
Unrealized loss due to fair value adjustments on interest rate swap agreements, net of taxes, net of settlements		(1,291)		(5,902)		(3,311)		0						(10,504)	0
Foreign currency translation adjustments		(25,408)		4,925		755		(10,797)		(56,248)		204
Total Equity, Ending Balance		1,496,451		1,527,719		1,463,786		1,469,527		1,463,810		1,471,991		1,496,451	1,469,527
Common Stock
Shareholders Equity [Line Items]
Total Equity, Beginning Balance		122		121		121		121		121		121		121	121
Issuance of share based awards and share based awards compensation expense				1
Total Equity, Ending Balance		122		122		121		121		121		121		122	121
Treasury Stock
Shareholders Equity [Line Items]
Total Equity, Beginning Balance		(81,506)		(81,206)		(79,259)		(79,259)		(79,049)		(76,354)		(79,259)	(76,354)
Stock withholdings related to share based awards that vested				(300)		(1,947)				(210)		(2,695)
Total Equity, Ending Balance		(81,506)		(81,506)		(81,206)		(79,259)		(79,259)		(79,049)		(81,506)	(79,259)
Additional Paid-In-Capital
Shareholders Equity [Line Items]
Total Equity, Beginning Balance		1,162,070		1,158,394		1,155,424		1,147,966		1,144,514		1,141,088		1,155,424	1,141,088
Issuance of share based awards and share based awards compensation expense		3,840		3,676		2,970		3,486		3,452		3,426
Total Equity, Ending Balance		1,165,910		1,162,070		1,158,394		1,151,452		1,147,966		1,144,514		1,165,910	1,151,452
Retained Earnings
Shareholders Equity [Line Items]
Total Equity, Beginning Balance		757,226		696,267		686,459		691,910		647,298		582,222		686,459	582,222
Cumulative effect of change in accounting principle, net of taxes						16,985						40,526
Dividends paid to stockholders	[1]	(39,832)		(39,823)		(39,797)		(37,385)		(37,377)		(37,346)
Dividends accrued on unvested restricted stock unit awards	[1]	(189)		(189)		(108)		(145)		(146)		(125)
Net income		31,353		100,971		32,728		50,228		82,135		62,021
Total Equity, Ending Balance		748,558		757,226		696,267		704,608		691,910		647,298		748,558	704,608
Accumulated Other Comprehensive Income (Loss)
Shareholders Equity [Line Items]
Total Equity, Beginning Balance		(322,633)		(321,634)		(319,007)		(309,306)		(252,942)		(253,282)		(319,007)	(253,282)
Other comprehensive income (loss) in equity method investees		(49)		(22)		(71)		(63)		(116)		136
Unrealized loss due to fair value adjustments on interest rate swap agreements, net of taxes, net of settlements		(1,291)		(5,902)		(3,311)
Foreign currency translation adjustments		(25,408)		4,925		755		(10,797)		(56,248)		204
Total Equity, Ending Balance		(349,381)		(322,633)		(321,634)		(320,166)		(309,306)		(252,942)		(349,381)	(320,166)
Total Cinemark Holdings, Inc.'s Stockholders' Equity
Shareholders Equity [Line Items]
Total Equity, Beginning Balance		1,515,279		1,451,942		1,443,738		1,451,432		1,459,942		1,393,795		1,443,738	1,393,795
Cumulative effect of change in accounting principle, net of taxes						16,985						40,526
Issuance of share based awards and share based awards compensation expense		3,840		3,677		2,970		3,486		3,452		3,426
Stock withholdings related to share based awards that vested				(300)		(1,947)				(210)		(2,695)
Dividends paid to stockholders	[1]	(39,832)		(39,823)		(39,797)		(37,385)		(37,377)		(37,346)
Dividends accrued on unvested restricted stock unit awards	[1]	(189)		(189)		(108)		(145)		(146)		(125)
Net income		31,353		100,971		32,728		50,228		82,135		62,021
Other comprehensive income (loss) in equity method investees		(49)		(22)		(71)		(63)		(116)		136
Unrealized loss due to fair value adjustments on interest rate swap agreements, net of taxes, net of settlements		(1,291)		(5,902)		(3,311)
Foreign currency translation adjustments		(25,408)		4,925		755		(10,797)		(56,248)		204
Total Equity, Ending Balance		1,483,703		1,515,279		1,451,942		1,456,756		1,451,432		1,459,942		1,483,703	1,456,756
Noncontrolling Interests
Shareholders Equity [Line Items]
Total Equity, Beginning Balance		12,440		11,844		12,379		12,378		12,049		11,893		12,379	11,893
Dividends paid to noncontrolling interests		(294)		(294)		(1,000)
Net income		602		890		465		393		329		156
Total Equity, Ending Balance		$ 12,748		$ 12,440		$ 11,844		$ 12,771		$ 12,378		$ 12,049		$ 12,748	$ 12,771

[1] (1) Below is a summary of dividends paid to stockholders and accrued on unvested restricted stock unit awards during the nine months ended September 30, 2019 and 2018:             Amount per Share           Declaration Date Record Date Payable Date   of Common Stock     Total   2/22/2019 3/8/2019 3/22/2019   $ 0.34     $ 39,905   5/23/2019 6/8/2019 6/24/2019     0.34       40,012   8/15/2019 9/4/2019 9/18/2019     0.34       40,021   Nine Months Ended September 30, 2019   $ 1.02     $ 119,938                         2/23/2018 3/8/2018 3/22/2018   $ 0.32     $ 37,471   5/25/2018 6/8/2018 6/22/2018     0.32       37,523   8/23/2018 9/4/2018 9/18/2018     0.32       37,530   Nine Months Ended September 30, 2018   $ 0.96     $ 112,524  

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Summary of Activity for Each of Company's Other Investments (Detail) - USD ($) $ in Thousands		3 Months Ended						9 Months Ended
		Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Sep. 30, 2019	Sep. 30, 2018
Schedule Of Equity Method Investments [Line Items]
Investments, beginning balance				$ 156,766				$ 156,766
Cash distributions received								(28,163)	$ (21,041)
Equity in income		$ 15,139			$ 14,158			33,982	29,208
Other comprehensive loss in equity method investments		(49)	$ (22)	(71)	$ (63)	$ (116)	$ 136	(142)	(43)
Investments, ending balance		166,033						166,033
Digital Cinema Implementation Partners
Schedule Of Equity Method Investments [Line Items]
Cash distributions received	[1]	(2,694)						(7,912)	$ (5,201)
Other Affiliates
Schedule Of Equity Method Investments [Line Items]
Investments, beginning balance				156,766				156,766
Cash distributions received								(9,712)
Equity in income								19,920
Other comprehensive loss in equity method investments								(142)
Other								(799)
Investments, ending balance		166,033						166,033
Other Affiliates | Digital Cinema Implementation Partners
Schedule Of Equity Method Investments [Line Items]
Investments, beginning balance				125,252				125,252
Cash distributions received								(7,912)
Equity in income								17,024
Other comprehensive loss in equity method investments								(142)
Other								0
Investments, ending balance		134,222						134,222
Other Affiliates | AC JV, LLC
Schedule Of Equity Method Investments [Line Items]
Investments, beginning balance				5,266				5,266
Cash distributions received								(1,800)
Equity in income								2,185
Other comprehensive loss in equity method investments								0
Other								0
Investments, ending balance		5,651						5,651
Other Affiliates | Digital Cinema Distribution Coalition
Schedule Of Equity Method Investments [Line Items]
Investments, beginning balance				2,255				2,255
Cash distributions received								0
Equity in income								777
Other comprehensive loss in equity method investments								0
Other								0
Investments, ending balance		3,032						3,032
Other Affiliates | FE Concepts, LLC
Schedule Of Equity Method Investments [Line Items]
Investments, beginning balance				19,918				19,918
Cash distributions received								0
Equity in income								(66)
Other comprehensive loss in equity method investments								0
Other								0
Investments, ending balance		19,852						19,852
Other Affiliates | Other Investments
Schedule Of Equity Method Investments [Line Items]
Investments, beginning balance				$ 4,075				4,075
Cash distributions received								0
Equity in income								0
Other comprehensive loss in equity method investments								0
Other								(799)
Investments, ending balance		$ 3,276						$ 3,276

[1] See discussion of cash distributions from DCIP, which were recorded as a reduction of the Company’s investment in DCIP, at Note 9.

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Revenue Recognition (Tables)

9 Months Ended

Sep. 30, 2019

Revenue From Contract With Customer [Abstract]

Summary of Revenues Disaggregated Based on Type of Good Or Service By Reportable Operating Segment and On Timing of Revenue Recognition

The following table presents revenues for the three and nine months ended September 30, 2019 and 2018, disaggregated based on major type of good or service and by reportable operating segment.

	Three Months Ended						Nine Months Ended
	September 30, 2019						September 30, 2019
	U.S.		International				U.S.		International
	Operating		Operating				Operating		Operating
Major Goods/Services	Segment (1)		Segment		Consolidated		Segment (1)		Segment		Consolidated
Admissions revenues	$	351,122	$	103,307	$	454,429	$	1,066,884	$	304,157	$	1,371,041
Concession revenues		230,415		59,062		289,477		704,727		181,356		886,083
Screen advertising, screen rental and promotional revenues		21,114		16,448		37,562		63,996		49,587		113,583
Other revenues		30,394		9,955		40,349		95,180		28,409		123,589
Total revenues	$	633,045	$	188,772	$	821,817	$	1,930,787	$	563,509	$	2,494,296

	Three Months Ended						Nine Months Ended
	September 30, 2018						September 30, 2018
	U.S.		International				U.S.		International
	Operating		Operating				Operating		Operating
Major Goods/Services	Segment (1)		Segment		Consolidated		Segment (1)		Segment		Consolidated
Admissions revenues	$	333,274	$	94,342	$	427,616	$	1,091,489	$	297,621	$	1,389,110
Concession revenues		207,960		56,205		264,165		661,328		169,915		831,243
Screen advertising and promotional revenues		19,010		13,420		32,430		58,240		43,135		101,375
Other revenues		22,031		7,993		30,024		76,635		24,896		101,531
Total revenues	$	582,275	$	171,960	$	754,235	$	1,887,692	$	535,567	$	2,423,259

(1) U.S. segment revenues include eliminations of intercompany transactions with the international operating segment.  See Note 16 for additional information on intercompany eliminations.

The following table presents revenues for the three and nine months ended September 30, 2019 and 2018, disaggregated based on timing of revenue recognition.

	Three Months Ended						Nine Months Ended
	September 30, 2019						September 30, 2019
	U.S.		International				U.S.		International
	Operating		Operating				Operating		Operating
	Segment (1)		Segment		Consolidated		Segment (1)		Segment		Consolidated
Goods and services transferred at a point in time	$	610,063	$	169,171	$	779,234	$	1,860,828	$	504,702	$	2,365,530
Goods and services transferred over time		22,982		19,601		42,583		69,959		58,807		128,766
Total	$	633,045	$	188,772	$	821,817	$	1,930,787	$	563,509	$	2,494,296

	Three Months Ended						Nine Months Ended
	September 30, 2018						September 30, 2018
	U.S.		International				U.S.		International
	Operating		Operating				Operating		Operating
	Segment (1)		Segment		Consolidated		Segment (1)		Segment		Consolidated
Goods and services transferred at a point in time	$	561,849	$	155,291	$	717,140	$	1,824,138	$	482,790	$	2,306,928
Goods and services transferred over time		20,426		16,669		37,095		63,554		52,777		116,331
Total	$	582,275	$	171,960	$	754,235	$	1,887,692	$	535,567	$	2,423,259

(1) U.S. segment revenues include eliminations of intercompany transactions with the international operating segment.  See Note 16 for additional information on intercompany eliminations.

Changes in Advances and Deferred Revenues

The following table presents changes in the Company’s advances and deferred revenues for the nine months ended September 30, 2019.  

	NCM screen advertising advances (1)			Other Deferred Revenues (2)			Total
Balance at January 1, 2019	$	287,349		$	106,075		$	393,424
Amounts recognized as accounts receivable		—			10,186			10,186
Cash received from customers in advance		—			138,927			138,927
Common units received from NCM (see Note 8)		1,552			—			1,552
Revenue recognized during period		(11,916	)		(141,684	)		(153,600	)
Foreign currency translation adjustments		—			(1,321	)		(1,321	)
Balance at September 30, 2019	$	276,985		$	112,183		$	389,168

(1) See Note 8 for the maturity of balance as of September 30, 2019.

(2) Includes liabilities associated with outstanding gift cards and SuperSavers, points or rebates outstanding under the Company’s loyalty and membership programs and revenues not yet recognized for screen advertising, screen rental and other promotional activities. Classified as accounts payable and accrued expenses or other long-term liabilities on the condensed consolidated balance sheet.

Aggregate Amount of Transaction Price Allocated To Performance Obligation That Are Unsatisfied And Expected To Be Recognized

The table below summarizes the aggregate amount of the transaction price allocated to performance obligations that are unsatisfied as of September 30, 2019 and when the Company expects to recognize this revenue.

	Twelve Months Ended September 30,
Remaining Performance Obligations	2020		2021		2022		2023		2024		Thereafter		Total
Deferred revenue		102,449		9,488		200		46		—		—		112,183

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Segments

9 Months Ended

Sep. 30, 2019

Segment Reporting [Abstract]

Segments

16. Segments

The Company manages its international market and its U.S. market as separate reportable operating segments, with the international segment consisting of operations in Brazil, Argentina, Chile, Colombia, Peru, Ecuador, Honduras, El Salvador, Nicaragua, Costa Rica, Panama, Guatemala, Bolivia, Curacao and Paraguay. Each segment’s revenue is derived from admissions and concession sales and other ancillary revenues. The Company uses Adjusted EBITDA, as shown in the reconciliation table below, as the primary measure of segment profit and loss to evaluate performance and allocate its resources. The Company does not report total assets by segment because that information is not used to evaluate the performance of or allocate resources between segments.

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

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2019			2018			2019			2018
Revenues
U.S.	$	636,628		$	585,536		$	1,941,545		$	1,897,664
International		188,772			171,960			563,509			535,567
Eliminations		(3,583	)		(3,261	)		(10,758	)		(9,972	)
Total revenues	$	821,817		$	754,235		$	2,494,296		$	2,423,259
Adjusted EBITDA
U.S.	$	132,347		$	132,652		$	453,404		$	476,907
International		37,411			35,740			113,346			106,518
Total Adjusted EBITDA	$	169,758		$	168,392		$	566,750		$	583,425
Capital expenditures
U.S.	$	50,679		$	65,458		$	148,609		$	195,104
International		20,664			17,915			37,903			50,858
Total capital expenditures	$	71,343		$	83,373		$	186,512		$	245,962

The following table sets forth a reconciliation of net income to Adjusted EBITDA:

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2019			2018			2019			2018
Net income	$	31,955		$	50,621		$	167,009		$	195,262
Add (deduct):
Income taxes		14,053			16,169			64,152			59,592
Interest expense (1) (2)		24,967			27,144			75,037			82,725
Other income, net (3)		(9,970	)		(8,810	)		(25,079	)		(15,247	)
Loss on debt amendments and refinancing		—			—			—			1,484
Distributions from DCIP (4)		2,694			—			7,912			5,201
Other cash distributions from equity investees (5)		5,804			4,786			20,251			15,840
Depreciation and amortization (2)		67,760			64,971			196,795			193,656
Impairment of long-lived assets		27,304			1,641			45,382			5,020
Loss on disposal of assets and other		2,453			7,826			8,057			28,666
Non-cash rent expense (6)		(1,102	)		—			(3,252	)		—
Deferred lease expenses (2)		—			(20	)		—			(952	)
Amortization of long-term prepaid rents (2)		—			578			—			1,814
Share based awards compensation expense		3,840			3,486			10,486			10,364
Adjusted EBITDA (2)	$	169,758		$	168,392		$	566,750		$	583,425

(1) Includes amortization of debt issue costs.

(2) Amounts for the three and nine months ended September 30, 2019 were impacted by the adoption of ASC Topic 842 and the resulting change in the classification of certain of the Company’s leases.  

(3) Includes interest income, foreign currency exchange loss, equity in income of affiliates and interest expense - NCM and excludes distributions from NCM.

(4) See discussion of cash distributions from DCIP, which were recorded as a reduction of the Company’s investment in DCIP, at Note 9.

(5) Includes cash distributions received from equity investees, other than those from DCIP noted above, that were recorded as a reduction of the respective investment balances (see Notes 8 and 9).  These distributions are reported entirely within the U.S. operating segment.

(6) The adoption of ASC Topic 842 impacted how the Company amortizes lease related assets and liabilities such as deferred lease expenses, favorable and unfavorable lease intangible assets, long-term prepaid rents and deferred lease incentives.  Beginning January 1, 2019, these items are amortized to facility lease expense for theatre operating leases and utilities and other for equipment operating leases.  See Note 3 for discussion of the impact of ASC Topic 842.  

Financial Information About Geographic Areas

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

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
Revenues	2019			2018			2019			2018
U.S.	$	636,628		$	585,536		$	1,941,545		$	1,897,664
Brazil		79,776			65,152			240,263			218,265
Other international countries		108,996			106,808			323,246			317,302
Eliminations		(3,583	)		(3,261	)		(10,758	)		(9,972	)
Total	$	821,817		$	754,235		$	2,494,296		$	2,423,259

	As of		As of
Theatre Properties and Equipment-net (1)	September 30, 2019		December 31, 2018
U.S.	$	1,408,052	$	1,479,603
Brazil		111,297		140,570
Other international countries		163,052		212,960
Total	$	1,682,401	$	1,833,133

⁽¹⁾ See Note 3 for discussion of impact of ASC Topic 842 on capital lease assets.  

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National CineMedia

9 Months Ended

Sep. 30, 2019

NCM

National CineMedia

8. National CineMedia

Below is a summary of activity with NCM included in the Company’s condensed consolidated financial statements:

	Investment in NCM			NCM Screen Advertising Advances			Distributions from NCM			Equity in Earnings			Other Revenue			Interest Expense - NCM (2)		Cash Received
Balance as of January 1, 2019	$	275,592		$	(287,349	)
Receipt of common units due to annual common unit adjustment ("CUA")		1,552			(1,552	)		—			—			—			—		—
Revenues earned under ESA (1)(2)		—			—			—			—			(22,151	)		13,392		8,759
Revenues earned under amendment to ESA(2)(3)		—			—			—			—			(1,482	)		788		694
Receipt of excess cash distributions		(16,126	)		—			(8,009	)		—			—			—		24,135
Receipt of cash under tax receivable agreement		(2,324	)		—			(1,159	)		—			—			—		3,483
Equity in earnings		14,062			—			—			(14,062	)		—			—		—
Amortization of deferred revenue		—			11,916			—			—			(11,916	)		—		—
Balance as of and for the nine months ended September 30, 2019	$	272,756		$	(276,985	)	$	(9,168	)	$	(14,062	)	$	(35,549	)	$	14,180	$	37,071

(1) Amount includes the per patron and per digital screen theatre access fees due to the Company prior to the first amendment to the Amended and Restated ESA, net of amounts paid to NCM for on-screen advertising time provided to the Company’s beverage concessionaire of approximately $8,808.

(2)   Reflects impact of significant financing component related to amounts received in advance under the ESA and CUA agreements.  See also Notes 3 and 4.  

(3) Reflects screen rental revenues earned after the amendment to the ESA.

Investment in National CineMedia

NCM operates a digital in-theatre network in the U.S. for providing cinema advertising. The Company entered into an Exhibitor Services Agreement with NCM (“ESA”), pursuant to which NCM primarily provides advertising to our theatres. As described in Note 6 to the Company’s financial statements as included in its 2018 Annual Report on Form 10-K, on February 13, 2007, National Cinemedia, Inc. (“NCMI”), an entity that serves as the sole manager of NCM, completed an initial public offering (“IPO”) of its common stock.  In connection with the NCMI initial public offering, the Company amended its operating agreement and the ESA. At the time of the NCMI IPO and as a result of amending the ESA, the Company received approximately $174,000 in cash consideration from NCM.  The proceeds were recorded as deferred revenue or NCM screen advertising advances and was being amortized over the term of the Amended and Restated ESA, or through February 2037.  Following the NCMI IPO, the Company does not recognize undistributed equity in the earnings on its original NCM membership units (referred to herein as the Company’s Tranche 1 Investment) until NCM’s future net earnings, less distributions received, surpass the amount of the excess distribution. The Company recognizes equity in earnings on its Tranche 1 Investment only to the extent it receives cash distributions from NCM. The Company recognizes cash distributions it receives from NCM on its Tranche 1 Investment as a component of earnings as Distributions from NCM.  The Company believes that the accounting model provided by ASC Topic 323-10-35-22 for recognition of equity investee losses in excess of an investor’s basis is analogous to the accounting for equity income subsequent to recognizing an excess distribution.

During the three months ended September 30, 2019 and 2018, the Company recorded equity in earnings of $9,050 and $6,830, respectively.  During the nine months ended September 30, 2019 and 2018, the Company recorded equity in earnings of $14,062 and $11,341, respectively.  

Common Unit Adjustments

In addition to the consideration received upon the NCMI IPO and ESA modification in 2007, the Company also periodically receives consideration in the form of common units from NCM.  Pursuant to a Common Unit Adjustment Agreement dated as of February 13, 2007 between NCMI and the Company, annual adjustments to the common membership units are made primarily based on increases or decreases in the number of theatre screens operated and theatre attendance generated by each Founding Member. As discussed in Note 6 to the Company’s financial statements as included in its 2018 Annual Report on Form 10-K, the common units received (collectively referred to as the Company’s “Tranche 2 Investment”) are recorded at estimated fair value as an increase in the Company’s investment in NCM with an offset to deferred revenue or NCM screen advertising advances. The Company’s Tranche 2 Investment is accounted for following the equity method, with undistributed equity earnings related to its Tranche 2 Investment included as a component of earnings in equity in income of affiliates and distributions received related to its Tranche 2 Investment are recorded as a reduction of investment basis

During March 2019, NCM performed its annual common unit adjustment calculation under the Common Unit Adjustment Agreement. As a result of the calculation, on March 29, 2019, the Company received an additional 219,056 common units of NCM, each of which is convertible into one share of NCMI common stock. The Company recorded the additional common units received at estimated fair value with a corresponding adjustment to deferred revenue of approximately $1,552. The fair value of the common units received was estimated based on the market price of NCMI common stock at the time the common units were determined, adjusted for volatility associated with the estimated time period it would take to convert the common units and register the respective shares.  The deferred revenue is recognized on a straight-line basis over the remaining term of the first amendment to the Amended and Restated ESA.

As of September 30, 2019, the Company owned a total of 39,737,700 common units of NCM, representing an ownership interest of approximately 25%. The estimated fair value of the Company’s investment in NCM was approximately $325,849 based on the price of NCMI common stock as of September 30, 2019 of $8.20 per share (Level 1 input as defined in FASB ASC Topic 820).

Exhibitor Service Agreement

As previously discussed, our domestic theatres are part of the in-theatre digital network operated by NCM under the ESA. NCM provides advertising to our theatres through its branded “Noovie” pre-show entertainment program and also handles lobby promotions and displays for our theatres.  We receive a monthly theatre access fee for participation in the NCM network and also earn screen advertising revenue on a per patron basis.   Prior to September 17, 2019, the ESA was accounted for under ASC Topic 606, Revenue from Contracts with Customers.   See Note 3 and Note 4.    Effective September 17, 2019, the Company signed an amendment to the ESA, under which the Company will provide incremental advertising time to NCM and has extended the term through February 2041.  Since the agreement was amended, the Company was required to evaluate the revised contract under ASC Topic 842, Leases, and as a result, determined that the ESA met the definition of a lease.  The Company leases nonconsecutive periods of use of its domestic theatre screens to NCM for purposes of showing third party advertising content.  The lease, which is classified as an operating lease, generally requires variable lease payments based on the number of patrons attending the showtimes during which such advertising is shown.  The lease agreement is considered short-term due to the fact that the nonconsecutive periods of use, or advertising time slots, are set on a weekly basis.  The revenues earned under the ESA screen advertising revenues, both before and after the amendment, are reflected in other revenue on the condensed consolidated income statement.  

The recognition of revenue related to the deferred revenue or NCM screen advertising advances will continue to be recorded on a straight-line basis over the new term of the amended ESA or February 2041.

	Twelve Months Ended September 30,
Remaining Maturity	2020		2021		2022		2023		2024		Thereafter		Total
NCM screen advertising advances		15,912		15,917		15,917		15,917		15,917		197,405		276,985

Significant Financing Component

Prior to the September 17, 2019 amendment of the ESA, the Company applied a significant financing component, as required by ASC Topic 606, due to the significant length of time between receiving the NCM screen advertising advances (the $174 million received at the NCMI IPO and the periodic common unit adjustments) and completion of the performance obligation.  Effective September 17, 2019, upon the Company’s evaluation and determination that ASC Topic 842 applies to the amended ESA, the Company determined it acceptable to retain the accounting for the significant financing component as the economic substance of the arrangement represents a financing, consistent with the guidance in ASC Topic 606.  As a result of the significant financing component, the Company recognized incremental screen advertising revenue and an offsetting interest expense of $4,666 and $4,983 during the three months ended September 30, 2019 and 2018, respectively, and $14,180 and $14,875 for the nine months ended September 30, 2019 and 2018, respectively. The interest expense was calculated using the Company’s incremental borrowing rates at the time when the cash and each tranche of common units were received from NCM, which ranged from 4.4% to 8.0%.

NCM Financial Information

Below is summary financial information for NCM for the periods indicated (financial information as of and for the three months ended September 27, 2019 is not yet available).

	Three Months Ended		Six Months ended		Three Months Ended		Nine Months Ended
	June 27, 2019		June 27, 2019		September 27, 2018		September 27, 2018
Gross revenues	$	110,200	$	187,100	$	110,100	$	304,000
Operating income	$	37,700	$	48,600	$	42,300	$	93,500
Net income	$	23,500	$	20,600	$	28,500	$	50,500

	As of			As of
	June 27, 2019			December 27, 2018
Current assets	$	141,100		$	172,700
Noncurrent assets	$	732,900		$	726,800
Current liabilities	$	88,400		$	115,200
Noncurrent liabilities	$	939,300		$	924,900
Members deficit	$	(153,700	)	$	(140,600	)

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Revenue Recognition

9 Months Ended

Sep. 30, 2019

Revenue From Contract With Customer [Abstract]

Revenue Recognition

4. Revenue Recognition

The Company’s patrons have the option to purchase movie tickets well in advance of a movie showtime or right before the movie showtime, or at any point in between those two timeframes depending on seat availability.  The Company recognizes such admissions revenues when the showtime for a purchased movie ticket has passed.  Concession revenues are recognized when sales are made at the registers.  Other revenues primarily consist of screen advertising, promotional income, studio trailer placements and transactional fees. The Company sells gift cards and discount ticket vouchers, the proceeds from which are recorded as current liabilities.  Revenues for gift cards and discount ticket vouchers are recognized when they are redeemed for movie tickets or concession items.  The Company offers a subscription program in the U.S. whereby patrons can pay a monthly fee to receive a monthly credit for use towards a future movie ticket purchase.  The Company records the monthly subscription program fees as current liabilities and records admissions revenues when the showtime for a movie ticket purchased with a credit has passed.  The Company also has loyalty programs in many of its locations that either have a prepaid annual membership fee or award points to customers as purchases are made.  For those loyalty programs that have an annual membership fee, the Company recognizes the fee collected as other revenues on a straight-line basis over the term of the membership.  For those loyalty programs that award points to customers based on their purchases, the Company records a portion of the original transaction proceeds as liabilities based on the number of reward points issued to customers and recognizes the deferred revenues when the customer redeems such points.  Advances collected on concession and other contracts are deferred and recognized during the period in which the Company satisfies the related performance obligations, which may differ from the period in which the advances are collected. These advances are recognized on either a straight-line basis over the term of the contracts or as the Company has met its performance obligations in accordance with the terms of the contracts.  

Screen advertising revenues for the U.S. operating segment primarily relate to the ESA with NCM and the Company’s beverage concessionaire agreement. As discussed in Note 3 and Note 8, prior to September 17, 2019, such screen advertising was accounted for under ASC Topic 606, Revenue from Contracts with Customers, and effective upon the amendment of the ESA, NCM screen advertising was accounted for under ASC Topic 842. See table at Note 8 for screen advertising revenues recorded in other revenue under ASC Topic 606 prior to the amendment of the ESA and under ASC Topic 842 subsequent to the amendment of the ESA.  

Accounts receivable as of September 30, 2019 included approximately $29,719 of receivables related to contracts with customers.  The Company did not record any assets related to the costs to obtain or fulfill a contract with customers during the nine months ended September 30, 2019.

Disaggregation of Revenue

The following table presents revenues for the three and nine months ended September 30, 2019 and 2018, disaggregated based on major type of good or service and by reportable operating segment.

	Three Months Ended						Nine Months Ended
	September 30, 2019						September 30, 2019
	U.S.		International				U.S.		International
	Operating		Operating				Operating		Operating
Major Goods/Services	Segment (1)		Segment		Consolidated		Segment (1)		Segment		Consolidated
Admissions revenues	$	351,122	$	103,307	$	454,429	$	1,066,884	$	304,157	$	1,371,041
Concession revenues		230,415		59,062		289,477		704,727		181,356		886,083
Screen advertising, screen rental and promotional revenues		21,114		16,448		37,562		63,996		49,587		113,583
Other revenues		30,394		9,955		40,349		95,180		28,409		123,589
Total revenues	$	633,045	$	188,772	$	821,817	$	1,930,787	$	563,509	$	2,494,296

	Three Months Ended						Nine Months Ended
	September 30, 2018						September 30, 2018
	U.S.		International				U.S.		International
	Operating		Operating				Operating		Operating
Major Goods/Services	Segment (1)		Segment		Consolidated		Segment (1)		Segment		Consolidated
Admissions revenues	$	333,274	$	94,342	$	427,616	$	1,091,489	$	297,621	$	1,389,110
Concession revenues		207,960		56,205		264,165		661,328		169,915		831,243
Screen advertising and promotional revenues		19,010		13,420		32,430		58,240		43,135		101,375
Other revenues		22,031		7,993		30,024		76,635		24,896		101,531
Total revenues	$	582,275	$	171,960	$	754,235	$	1,887,692	$	535,567	$	2,423,259

(1) U.S. segment revenues include eliminations of intercompany transactions with the international operating segment.  See Note 16 for additional information on intercompany eliminations.

The following table presents revenues for the three and nine months ended September 30, 2019 and 2018, disaggregated based on timing of revenue recognition.

	Three Months Ended						Nine Months Ended
	September 30, 2019						September 30, 2019
	U.S.		International				U.S.		International
	Operating		Operating				Operating		Operating
	Segment (1)		Segment		Consolidated		Segment (1)		Segment		Consolidated
Goods and services transferred at a point in time	$	610,063	$	169,171	$	779,234	$	1,860,828	$	504,702	$	2,365,530
Goods and services transferred over time		22,982		19,601		42,583		69,959		58,807		128,766
Total	$	633,045	$	188,772	$	821,817	$	1,930,787	$	563,509	$	2,494,296

	Three Months Ended						Nine Months Ended
	September 30, 2018						September 30, 2018
	U.S.		International				U.S.		International
	Operating		Operating				Operating		Operating
	Segment (1)		Segment		Consolidated		Segment (1)		Segment		Consolidated
Goods and services transferred at a point in time	$	561,849	$	155,291	$	717,140	$	1,824,138	$	482,790	$	2,306,928
Goods and services transferred over time		20,426		16,669		37,095		63,554		52,777		116,331
Total	$	582,275	$	171,960	$	754,235	$	1,887,692	$	535,567	$	2,423,259

(1) U.S. segment revenues include eliminations of intercompany transactions with the international operating segment.  See Note 16 for additional information on intercompany eliminations.

Deferred Revenues

The following table presents changes in the Company’s advances and deferred revenues for the nine months ended September 30, 2019.  

	NCM screen advertising advances (1)			Other Deferred Revenues (2)			Total
Balance at January 1, 2019	$	287,349		$	106,075		$	393,424
Amounts recognized as accounts receivable		—			10,186			10,186
Cash received from customers in advance		—			138,927			138,927
Common units received from NCM (see Note 8)		1,552			—			1,552
Revenue recognized during period		(11,916	)		(141,684	)		(153,600	)
Foreign currency translation adjustments		—			(1,321	)		(1,321	)
Balance at September 30, 2019	$	276,985		$	112,183		$	389,168

(1) See Note 8 for the maturity of balance as of September 30, 2019.

(2) Includes liabilities associated with outstanding gift cards and SuperSavers, points or rebates outstanding under the Company’s loyalty and membership programs and revenues not yet recognized for screen advertising, screen rental and other promotional activities. Classified as accounts payable and accrued expenses or other long-term liabilities on the condensed consolidated balance sheet.

The table below summarizes the aggregate amount of the transaction price allocated to performance obligations that are unsatisfied as of September 30, 2019 and when the Company expects to recognize this revenue.

	Twelve Months Ended September 30,
Remaining Performance Obligations	2020		2021		2022		2023		2024		Thereafter		Total
Deferred revenue		102,449		9,488		200		46		—		—		112,183

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Impairment of Long-Lived Assets

9 Months Ended

Sep. 30, 2019

Impairment Or Disposal Of Tangible Assets Disclosure [Abstract]

Impairment of Long-Lived Assets

12. Impairment of Long-Lived Assets

The Company reviews long-lived assets for impairment indicators on a quarterly basis or whenever events or changes in circumstances indicate the carrying amount of the assets may not be fully recoverable. See discussion of the Company’s long-lived asset impairment evaluation process in Note 1 to the Company’s financial statements as included in its 2018 Annual Report on Form 10-K.  As noted in the discussion, fair value is determined based on a multiple of cash flows, which was six and a half times for the evaluations performed during the nine months ended September 30, 2019 and 2018. As of September 30, 2019, the estimated aggregate fair value of the long-lived assets impaired during the nine months ended September 30, 2019 was $27,383.

The long-lived asset impairment charges recorded during each of the periods presented are specific to theatres that were directly and individually impacted by increased competition, adverse changes in market demographics or adverse changes in the development or the conditions of the areas surrounding the theatre.

Below is a summary of impairment charges for the periods presented:

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2019		2018		2019		2018
U.S. theatre properties and equipment	$	24,502	$	1,553	$	26,754	$	3,331
U.S. operating lease right-of-use assets		2,157		—		10,204		—
International theatre properties and equipment		645		88		6,796		1,689
International operating lease right-of-use assets		—		—		1,628		—
Total	$	27,304	$	1,641	$	45,382	$	5,020

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CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Statement Of Income And Comprehensive Income [Abstract]
Unrealized loss due to fair value adjustments on interest rate swap agreements, taxes	$ 417	$ 0	$ 3,391	$ 0

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Other Investments (Tables)

9 Months Ended

Sep. 30, 2019

Summary of Activity for Each of Company's Other Investments

Below is a summary of activity for each of the Company’s other investments for the nine months ended September 30, 2019:

	DCIP			AC JV, LLC			DCDC		FE Concepts			Other			Total
Balance at January 1, 2019	$	125,252		$	5,266		$	2,255	$	19,918		$	4,075		$	156,766
Cash distributions received		(7,912	)		(1,800	)		—		—			—			(9,712	)
Equity in income		17,024			2,185			777		(66	)		—			19,920
Equity in other comprehensive loss		(142	)		—			—		—			—			(142	)
Other		—			—			—		—			(799	)		(799	)
Balance at September 30, 2019	$	134,222		$	5,651		$	3,032	$	19,852		$	3,276		$	166,033

Digital Cinema Implementation Partners

Summary Financial Information

Below is summary financial information for DCIP for the periods indicated:

	Three Months Ended				Nine Months Ended
	September 30, 2019		September 30, 2018		September 30, 2019		September 30, 2018
Gross revenues	$	40,200	$	43,403	$	125,869	$	126,957
Operating income	$	22,617	$	25,816	$	73,396	$	74,310
Net income	$	22,362	$	24,311	$	69,323	$	68,014

	As of
	September 30, 2019		December 31, 2018
Current assets	$	64,019	$	57,907
Noncurrent assets	$	603,209	$	684,545
Current liabilities	$	66,942	$	67,408
Noncurrent liabilities	$	11,985	$	125,596
Members' equity	$	588,301	$	549,448

Transactions with DCIP

The Company had the following transactions with DCIP, reflected in utilities and other costs on the condensed consolidated statements of income, during the three and nine months ended September 30, 2019 and 2018:

	Three Months Ended						Nine Months Ended
	September 30, 2019			September 30, 2018			September 30, 2019			September 30, 2018
Equipment lease payments	$	1,105		$	1,229		$	3,357		$	3,689
Warranty reimbursements from DCIP	$	(2,953	)	$	(2,791	)	$	(8,842	)	$	(7,909	)
Management service fees	$	128		$	180		$	438		$	558

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Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2019

Fair Value Disclosures [Abstract]

Summary of Liabilities Measured at Fair Value on a Recurring Basis

Below is a summary of liabilities measured at fair value on a recurring basis by the Company under FASB ASC Topic 820 as of September 30, 2019:

	Carry			Fair Value
Description	Value			Level 1		Level 2		Level 3
Interest rate swap liabilities (1)	$	(18,988	)	$	—	$	—	$	(18,988	)

(1) See further discussion of interest rate swaps at Note 6.

Below is a summary of liabilities measured at fair value on a recurring basis by the Company under FASB ASC Topic 820 as of December 31, 2018:

	Carry			Fair Value
Description	Value			Level 1		Level 2		Level 3
Interest rate swap liabilities (1)	$	(5,093	)	$	—	$	—	$	(5,093	)

(1) See further discussion of interest rate swaps at Note 6.

Reconciliation of Beginning and Ending Balance for Liabilities Measured at Fair Value

Below is a reconciliation of the beginning and ending balance for liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3):

	Liabilities (1)
	2019
Beginning balance - January 1	$	5,093
Total loss included in accumulated other comprehensive loss		15,036
Settlements included in interest expense		(1,141	)
Ending balance - September 30	$	18,988

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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands		Sep. 30, 2019		Dec. 31, 2018
Current assets
Cash and cash equivalents		$ 482,772		$ 426,222
Inventories		19,346		19,319
Accounts receivable		66,947		95,084
Current income tax receivable		4,844		3,288
Prepaid expenses and other		20,859		15,117
Total current assets		594,768		559,030
Theatre properties and equipment		3,262,990		3,404,150
Less: accumulated depreciation and amortization		1,580,589		1,571,017
Theatre properties and equipment – net	[1]	1,682,401		1,833,133
Operating lease right-of-use assets		1,384,019	[2]	0
Other assets
Goodwill	[3]	1,281,354		1,276,324
Intangible assets – net		322,671		330,910
Investments in and advances to affiliates		166,033		156,766
Long-term deferred tax asset		8,499		9,028
Deferred charges and other assets – net		39,102		41,055
Total other assets		2,090,415		2,089,675
Total assets		5,751,603		4,481,838
Current liabilities
Current portion of long-term debt		7,984		7,984
Current portion of operating lease obligations		215,015	[2]	0
Current portion of finance and capital lease obligations		15,501		27,065
Current income tax payable		12,656		12,179
Current liability for uncertain tax positions		0		573
Accounts payable and accrued expenses		388,623		426,888
Total current liabilities		639,779		474,689
Long-term liabilities
Long-term debt, less current portion		1,771,663		1,772,627
Operating lease obligations, less current portion		1,230,152	[2]	0
Finance and capital lease obligations, less current portion		126,344		232,467
Long-term deferred tax liability		152,494		155,626
Long-term liability for uncertain tax positions		13,884		13,380
Deferred lease expenses		0		39,235
Other long-term liabilities		43,851		50,348
Total long-term liabilities		3,615,373		2,551,032
Commitments and contingencies (see Note 18)		0		0
Cinemark Holdings, Inc.'s stockholders' equity:
Common stock, $0.001 par value: 300,000,000 shares authorized, 121,853,045 shares issued and 117,150,047 shares outstanding at September 30, 2019 and 121,456,721 shares issued and 116,830,530 shares outstanding at December 31, 2018		122		121
Additional paid-in-capital		1,165,910		1,155,424
Treasury stock, 4,702,998 and 4,626,191 shares, at cost, at September 30, 2019 and December 31, 2018, respectively		(81,506)		(79,259)
Retained earnings		748,558		686,459
Accumulated other comprehensive loss		(349,381)		(319,007)
Total Cinemark Holdings, Inc.'s stockholders' equity		1,483,703		1,443,738
Noncontrolling interests		12,748		12,379
Total equity		1,496,451		1,456,117
Total liabilities and equity		5,751,603		4,481,838
NCM
Other assets
Investment in NCM		272,756		275,592
Long-term liabilities
NCM screen advertising advances		$ 276,985		$ 287,349

[1] See Note 3 for discussion of impact of ASC Topic 842 on capital lease assets.

[2] The operating lease right-of-use assets and liabilities recorded on the Company’s condensed consolidated balance sheet generally do not include renewal options that have not yet been exercised.  The Company does not consider a lease renewal as reasonably certain until immediately before the necessary notification is provided to the landlord.

[3] Balances are presented net of accumulated impairment losses of $214,031 for the U.S. operating segment and $27,622 for the international operating segment.

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Computations of Basic and Diluted Earnings Per Share (Parenthetical) (Detail) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Earnings Per Share [Abstract]
Weighted average shares of participating restricted stock	793	708	719	677

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Changes in Advances and Deferred Revenues (Detail) $ in Thousands	9 Months Ended
	Sep. 30, 2019 USD ($)
Change in Contract with Customer Liability [Line Items]
Balance at January 1, 2019	$ 393,424
Amounts recognized as accounts receivable	10,186
Cash received from customers in advance	138,927
Common units received from NCM (see Note 8)	1,552
Revenue recognized during period	(153,600)
Foreign currency translation adjustments	(1,321)
Balance at September 30, 2019	389,168
NCM Screen Advertising Advances
Change in Contract with Customer Liability [Line Items]
Balance at January 1, 2019	287,349	[1]
Common units received from NCM (see Note 8)	(1,552)
Revenue recognized during period	(11,916)	[1]
Balance at September 30, 2019	276,985	[1]
NCM Screen Advertising Advances | NCM
Change in Contract with Customer Liability [Line Items]
Common units received from NCM (see Note 8)	1,552	[1]
Other Deferred Revenues
Change in Contract with Customer Liability [Line Items]
Balance at January 1, 2019	106,075	[2]
Amounts recognized as accounts receivable	10,186	[2]
Cash received from customers in advance	138,927	[2]
Revenue recognized during period	(141,684)	[2]
Foreign currency translation adjustments	(1,321)	[2]
Balance at September 30, 2019	$ 112,183	[2]

[1] See Note 8 for the maturity of balance as of September 30, 2019.

[2] Includes liabilities associated with outstanding gift cards and SuperSavers, points or rebates outstanding under the Company’s loyalty and membership programs and revenues not yet recognized for screen advertising, screen rental and other promotional activities. Classified as accounts payable and accrued expenses or other long-term liabilities on the condensed consolidated balance sheet.

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Summary of Potential Number of Shares Vesting under Restricted Stock Unit Awards (Detail) $ in Thousands	9 Months Ended
	Sep. 30, 2019 USD ($) shares
Disclosure Of Restricted Stock Unit [Abstract]
Number of shares vesting at IRR of at least 6% | shares	136,285
Number of shares vesting at IRR of at least 8% | shares	204,427
Number of shares vesting at IRR of at least 14% | shares	306,651
Value at grant at IRR of at least 6% | $	$ 5,011
Value at grant at IRR of at least 8% | $	7,517
Value at grant at IRR of at least 14% | $	$ 11,276

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Reconciliation of Beginning and Ending Balance for Liabilities Measured at Fair Value on Recurring Basis Unobservable Inputs (Detail) $ in Thousands	9 Months Ended
	Sep. 30, 2019 USD ($)	[1]
Fair Value Disclosures [Abstract]
Beginning balances - Liabilities	$ 5,093
Total loss included in accumulated other comprehensive loss	15,036
Settlements included in interest expense	(1,141)
Ending balances - Liabilities	$ 18,988

[1] Represents interest rate swap liabilities.  See further discussion of interest rate swaps at Note 6.

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Other Investments - Additional Information (Detail) $ in Thousands		9 Months Ended
	Apr. 30, 2018 USD ($)	Sep. 30, 2019 USD ($) Studio ProjectionSystem	Sep. 30, 2018 USD ($)
Maximum
Schedule Of Equity Method Investments [Line Items]
Percentage of voting interest		50.00%
Minimum
Schedule Of Equity Method Investments [Line Items]
Percentage of voting interest		20.00%
Digital Cinema Implementation Partners
Schedule Of Equity Method Investments [Line Items]
Percentage of voting interest		33.00%
Economic interest in Digital Cinema Implementation Partners		24.30%
Description of digital cinema deployment agreements		The DCDAs end on the earlier to occur of (i) the tenth anniversary of the "mean deployment date" for all digital projection systems scheduled to be deployed over a period of up to five years, or (ii) the date DCIP achieves "cost recoupment", each as defined in the DCDAs.
Number of major motion picture studio, long-term digital cinema deployment agreements | Studio		6
Number of equipment being leased under master equipment lease agreement | ProjectionSystem		3,866
Digital Cinema Implementation Partners | Maximum
Schedule Of Equity Method Investments [Line Items]
Deployment period of digital cinema deployment agreements		5 years
AC JV, LLC | Film rentals and advertising
Schedule Of Equity Method Investments [Line Items]
Event fees		$ 10,332	$ 8,516
NCM
Schedule Of Equity Method Investments [Line Items]
Remaining outstanding balance of note payable		$ 1,389
Cash contributions			78,393
Digital Cinema Distribution Coalition
Schedule Of Equity Method Investments [Line Items]
Percentage of voting interest		14.60%
Payments for content delivery services		$ 703	$ 657
CNMK Texas Properties, LLC
Schedule Of Equity Method Investments [Line Items]
Percentage of voting interest	50.00%
Cash contributions	$ 20,000
CNMK Texas Properties, LLC | AWSR Investments, LLC
Schedule Of Equity Method Investments [Line Items]
Percentage of voting interest	50.00%
Cash contributions	$ 20,000

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Summary of Goodwill (Parenthetical) (Detail) $ in Thousands	Sep. 30, 2019 USD ($) Theatre
Goodwill [Line Items]
Number of theatres acquired | Theatre	2
U.S. Operating Segment
Goodwill [Line Items]
Accumulated impairment losses | $	$ 214,031
Number of theatres acquired | Theatre	2
International Operating Segment
Goodwill [Line Items]
Accumulated impairment losses | $	$ 27,622

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Estimated Aggregate Future Amortization Expense for Intangible Assets (Detail) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Finite Lived Intangible Assets Net [Abstract]
For the three months ended December 31, 2019	$ 1,254
For the twelve months ended December 31, 2020	4,986
For the twelve months ended December 31, 2021	3,150
For the twelve months ended December 31, 2022	3,116
For the twelve months ended December 31, 2023	3,083
Thereafter	6,536
Total	$ 22,125	$ 30,653

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Summary of Treasury Stock Activity (Parenthetical) (Detail)	9 Months Ended
	Sep. 30, 2019 $ / shares
Minimum
Schedule of Treasury Stock [Line Items]
Market Value of Restricted Shares	$ 36.81
Maximum
Schedule of Treasury Stock [Line Items]
Market Value of Restricted Shares	$ 40.32

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Goodwill and Other Intangible Assets

9 Months Ended

Sep. 30, 2019

Goodwill And Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

11. Goodwill and Other Intangible Assets

The Company’s goodwill was as follows:

	U.S. Operating Segment		International Operating Segment			Total
Balance at January 1, 2019 (1)	$	1,174,041	$	102,283		$	1,276,324
Theatres acquired in the US and Brazil (2)		8,812		869			9,681
Foreign currency translation adjustments		—		(4,651	)		(4,651	)
Balance at September 30, 2019 (1)	$	1,182,853	$	98,501		$	1,281,354

(1) Balances are presented net of accumulated impairment losses of $214,031 for the U.S. operating segment and $27,622 for the international operating segment.

(2) Amount represents final purchase price allocation for two theatres acquired in the U.S. during 2019 and the final purchase price allocation adjustment for theatres acquired in Brazil during 2018.

The Company evaluates goodwill for impairment annually during the fourth quarter or whenever events or changes in circumstances indicate the carrying value of the goodwill may not be fully recoverable.  The Company evaluates goodwill for impairment at the reporting unit level and has allocated goodwill to the reporting unit based on an estimate of its relative fair value. Management considers the reporting unit to be each of its nineteen regions in the U.S. and seven countries internationally with Honduras, El Salvador, Nicaragua, Costa Rica, Panama and Guatemala considered one reporting unit (the Company does not have goodwill recorded for all of its international locations).  For the year ended December 31, 2018, the Company performed a quantitative goodwill impairment assessment on all reporting units, in accordance with ASC Topic 350-20-35.  No events or changes in circumstances occurred during the nine months ended September 30, 2019 that indicated the carrying value of goodwill might exceed its estimated fair value.

Intangible assets consisted of the following:

	Balance at January 1, 2019			Impact of Adoption of ASC Topic 842 (1)			Amortization			Other (2)			Balance at September 30, 2019
Intangible assets with finite lives:
Gross carrying amount	$	105,256		$	(18,024	)	$	—		$	(2,501	)	$	84,731
Accumulated amortization		(74,603	)		13,597			(3,730	)		2,130			(62,606	)
Total net intangible assets with finite lives	$	30,653		$	(4,427	)	$	(3,730	)	$	(371	)	$	22,125
Intangible assets with indefinite lives:
Tradename and other		300,257		―			―				289			300,546
Total intangible assets — net	$	330,910		$	(4,427	)	$	(3,730	)	$	(82	)	$	322,671

(1) See Note 3 for further discussion of the impact of adoption of ASC Topic 842.

(2) Amount represents the write-off of fully amortized intangible assets related to non-compete agreements, the acquisition of tradeable liquor licenses, fair values allocated to intangible assets acquired as part of acquisitions of two theatres in the U.S. and foreign currency translation adjustments.

For the year ended December 31, 2018, the Company performed a quantitative assessment for all definite and indefinite-lived tradename assets.  No events or changes in circumstances occurred during the nine months ended September 30, 2019 that indicated the carrying value of its tradename assets might exceed their estimated fair values.

Estimated aggregate future amortization expense for intangible assets is as follows:

For the three months ended December 31, 2019	$	1,254
For the twelve months ended December 31, 2020		4,986
For the twelve months ended December 31, 2021		3,150
For the twelve months ended December 31, 2022		3,116
For the twelve months ended December 31, 2023		3,083
Thereafter		6,536
Total	$	22,125

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Equity

9 Months Ended

Sep. 30, 2019

Equity [Abstract]

Equity

7. Equity

Below is a summary of changes in stockholders’ equity attributable to Cinemark Holdings, Inc., noncontrolling interests and total equity for the three and nine months ended September 30, 2019 and 2018:

	Common  Stock		Treasury Stock			Additional Paid-In-Capital		Retained Earnings			Accumulated Other Comprehensive Income (Loss)			Total Cinemark Holdings, Inc. Stockholders’ Equity			Noncontrolling Interests			Total Equity
Balance at January 1, 2019	$	121	$	(79,259	)	$	1,155,424	$	686,459		$	(319,007	)	$	1,443,738		$	12,379		$	1,456,117
Cumulative effect of change in accounting principle, net of taxes of $6,054 (see Note 3)		—		—			—		16,985			—			16,985			—			16,985
Issuance of share based awards and share based awards compensation expense		—		—			2,970		—			—			2,970			—			2,970
Stock withholdings related to share based awards that vested during the three months ended March 31, 2019		—		(1,947	)		—		—			—			(1,947	)		—			(1,947	)
Dividends paid to stockholders, $0.34 per common share (1)		—		—			—		(39,797	)		—			(39,797	)		—			(39,797	)
Dividends paid to noncontrolling interests		—		—			—		—			—			—			(1,000	)		(1,000	)
Dividends accrued on unvested restricted stock unit awards (1)		—		—			—		(108	)		—			(108	)		—			(108	)
Net income		—		—			—		32,728			—			32,728			465			33,193
Other comprehensive loss in equity method investees		—		—			—		—			(71	)		(71	)		—			(71	)
Unrealized loss due to fair value adjustments on interest rate swap agreements, net of taxes, net of settlements		—		—			—		—			(3,311	)		(3,311	)		—			(3,311	)
Foreign currency translation adjustments		—		—			—		—			755			755			—			755
Balance at March 31, 2019		121		(81,206	)		1,158,394		696,267			(321,634	)		1,451,942			11,844			1,463,786
Issuance of share based awards and share based awards compensation expense		1		—			3,676		—			—			3,677			—			3,677
Stock withholdings related to share based awards that vested during the three months ended June 30, 2019		—		(300	)		—		—			—			(300	)		—			(300	)
Dividends paid to stockholders, $0.34 per common share (1)		—		—			—		(39,823	)		—			(39,823	)		—			(39,823	)
Dividends paid to noncontrolling interests		—		—			—		—			—			—			(294	)		(294	)
Dividends accrued on unvested restricted stock unit awards (1)		—		—			—		(189	)		—			(189	)		—			(189	)
Net income		—		—			—		100,971			—			100,971			890			101,861
Other comprehensive loss in equity method investees		—		—			—		—			(22	)		(22	)		—			(22	)
Unrealized loss due to fair value adjustments on interest rate swap agreements, net of taxes, net of settlements		—		—			—		—			(5,902	)		(5,902	)		—			(5,902	)
Foreign currency translation adjustments		—		—			—		—			4,925			4,925			—			4,925
Balance at June 30, 2019		122		(81,506	)		1,162,070		757,226			(322,633	)		1,515,279			12,440			1,527,719
Issuance of share based awards and share based awards compensation expense		—		—			3,840		—						3,840						3,840
Dividends paid to stockholders, $0.34 per common share (1)		—		—			—		(39,832	)		—			(39,832	)		—			(39,832	)
Dividends paid to noncontrolling interests		—		—			—		—			—			—			(294	)		(294	)
Dividends accrued on unvested restricted stock unit awards (1)		—		—			—		(189	)		—			(189	)		—			(189	)
Net income		—		—			—		31,353			—			31,353			602			31,955
Other comprehensive loss in equity method investees		—		—			—		—			(49	)		(49	)		—			(49	)
Unrealized loss due to fair value adjustments on interest rate swap agreements, net of taxes, net of settlements		—		—			—		—			(1,291	)		(1,291	)		—			(1,291	)
Foreign currency translation adjustments		—		—			—		—			(25,408	)		(25,408	)		—			(25,408	)
Balance at September 30, 2019	$	122	$	(81,506	)	$	1,165,910	$	748,558		$	(349,381	)	$	1,483,703		$	12,748		$	1,496,451

	Common  Stock		Treasury Stock			Additional Paid-In-Capital		Retained Earnings			Accumulated Other Comprehensive Income (Loss)			Total Cinemark Holdings, Inc. Stockholders’ Equity			Noncontrolling Interests		Total Equity
Balance at January 1, 2018	$	121	$	(76,354	)	$	1,141,088	$	582,222		$	(253,282	)	$	1,393,795		$	11,893	$	1,405,688
Cumulative effect of change in accounting principle, net of taxes of $13,079		—		—			—		40,526			—			40,526			—		40,526
Issuance of share based awards and share based awards compensation expense		—		—			3,426					—			3,426			—		3,426
Stock withholdings related to share based awards that vested during the three months ended March 31, 2018		—		(2,695	)		—		—			—			(2,695	)		—		(2,695	)
Dividends paid to stockholders, $0.32 per common share (1)		—		—			—		(37,346	)		—			(37,346	)		—		(37,346	)
Dividends accrued on unvested restricted stock unit awards (1)		—		—			—		(125	)		—			(125	)		—		(125	)
Net income		—		—			—		62,021			—			62,021			156		62,177
Other comprehensive income in equity method investees		—		—			—		—			136			136			—		136
Foreign currency translation adjustments		—		—			—		—			204			204			—		204
Balance at March 31, 2018		121		(79,049	)		1,144,514		647,298			(252,942	)		1,459,942			12,049		1,471,991
Issuance of share based awards and share based awards compensation expense		—		—			3,452		—			—			3,452			—		3,452
Stock withholdings related to share based awards that vested during the three months ended June 30, 2018		—		(210	)		—		—			—			(210	)		—		(210	)
Dividends paid to stockholders, $0.32 per common share (1)		—		—			—		(37,377	)		—			(37,377	)		—		(37,377	)
Dividends accrued on unvested restricted stock unit awards (1)		—		—			—		(146	)		—			(146	)		—		(146	)
Net income		—		—			—		82,135			—			82,135			329		82,464
Other comprehensive loss in equity method investees		—		—			—		—			(116	)		(116	)		—		(116	)
Foreign currency translation adjustments		—		—			—		—			(56,248	)		(56,248	)		—		(56,248	)
Balance at June 30, 2018		121		(79,259	)		1,147,966		691,910			(309,306	)		1,451,432			12,378		1,463,810
Issuance of share based awards and share based awards compensation expense		—		—			3,486		—			—			3,486			—		3,486
Dividends paid to stockholders, $0.32 per common share (1)		—		—			—		(37,385	)		—			(37,385	)		—		(37,385	)
Dividends accrued on unvested restricted stock unit awards (1)		—		—			—		(145	)		—			(145	)		—		(145	)
Net income		—		—			—		50,228			—			50,228			393		50,621
Other comprehensive loss in equity method investees		—		—			—		—			(63	)		(63	)		—		(63	)
Foreign currency translation adjustments		—		—			—		—			(10,797	)		(10,797	)		—		(10,797	)
Balance at September 30, 2018	$	121	$	(79,259	)	$	1,151,452	$	704,608		$	(320,166	)	$	1,456,756		$	12,771	$	1,469,527

(1) Below is a summary of dividends paid to stockholders and accrued on unvested restricted stock unit awards during the nine months ended September 30, 2019 and 2018:  

			Amount per Share
Declaration Date	Record Date	Payable Date	of Common Stock		Total
2/22/2019	3/8/2019	3/22/2019	$	0.34	$	39,905
5/23/2019	6/8/2019	6/24/2019		0.34		40,012
8/15/2019	9/4/2019	9/18/2019		0.34		40,021
Nine Months Ended September 30, 2019			$	1.02	$	119,938
2/23/2018	3/8/2018	3/22/2018	$	0.32	$	37,471
5/25/2018	6/8/2018	6/22/2018		0.32		37,523
8/23/2018	9/4/2018	9/18/2018		0.32		37,530
Nine Months Ended September 30, 2018			$	0.96	$	112,524

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Adoption of ASC Topic 842 - Lease Accounting

9 Months Ended

Sep. 30, 2019

Leases [Abstract]

Adoption of ASC Topic 842 - Lease Accounting

3. Adoption of ASC Topic 842 – Lease Accounting

The Company adopted ASC Topic 842 as of January 1, 2019 under the modified retrospective approach that resulted in the recognition of a cumulative-effect adjustment to the opening balance of retained earnings with an option to elect certain practical expedients.  The Company elected the following practical expedients, as allowed by ASC Topic 842:

• The Company chose not to separate nonlease components from lease components, accounting for lease components and nonlease components associated with a lease as a single lease component.  More specifically, for theatre leases, the Company elected not to separate fixed common area maintenance costs from lease costs when calculating lease liabilities and assets.

• The Company also elected the following practical expedients:

o The Company did not reassess whether existing contracts in effect as of the transition date of January 1, 2019 were, or contained, a lease.

o The Company did not reassess the classification of existing leases as operating or finance as of the transition date.  

o The Company did not reassess whether any initial direct costs were incurred for any of its existing leases.  

o The Company did not elect to apply the recognition requirements of ASC 842 to short-term leases.

The adoption of ASC Topic 842 included the following primary impacts:

1. The Company recorded a right-of-use asset and lease liability for all of its operating leases as required by the standard.   The lease liability for each lease was determined based on the present value of future minimum lease payments.  The right-of-use asset was based on the lease liability value, adjusted for offsets that existed as of adoption, including deferred rent liabilities of ($39,235), net favorable and unfavorable lease intangibles of ($5,780), deferred lease incentive liabilities of ($12,960) and long-term prepaid rents of $7,707.  The Company recorded operating lease right-of-use assets of $1,491,245 and operating lease liabilities of $1,545,210 upon adoption.

2. Certain of the Company’s existing lease assets and liabilities, which were accounted for under prior sale-leaseback accounting guidance, were derecognized in accordance with ASC Topic 842 and reevaluated for classification per the new accounting guidance.  Several of these leases have been reestablished as operating leases based on ASC Topic 842.

a. For those leases that are now classified as operating leases in accordance with ASC Topic 842, approximately $110,442 and $126,376 of lease assets and liabilities, respectively, were recorded as an adjustment to beginning retained earnings.  The related net deferred income tax asset for these accounts was also recorded as an adjustment to beginning retained earnings.  See additional impact discussed in item 3 below.

b. The Company recognized finance lease assets and liabilities in the amount of $57,440 as of January 1, 2019 for the remaining leases that were determined to be finance leases under ASC Topic 842.    

3. For the leases noted in item 2a above, the Company will now record the related operating lease payments as facility lease expense, compared to prior periods in which the capitalized asset was depreciated and lease payments were recorded as a reduction of a lease liability and interest expense.  

Real Estate Leases - The Company conducts a significant part of its theatre operations in leased properties under noncancelable operating and finance leases with terms generally ranging from 10 to 25 years. In addition to fixed lease payments, some of the leases provide for variable lease payments and some require the payment of taxes, insurance and other costs applicable to the property. Variable lease payments include payments based on a percentage of retail sales over contractual levels or payments adjusted periodically for inflation or changes in attendance. The Company can renew, at its option, a substantial portion of the leases at defined or then market rental rates for various periods.  Some leases also provide for escalating rent payments throughout the lease term.  The Company also leases certain office and warehouse facilities in the U.S. and in international locations.  The lease terms for these facilities generally only include fixed payments.  The Company recognizes fixed lease expense for the operating leases on a straight-line basis over the lease term.  The Company’s real estate lease agreements do not contain any residual value guarantees or restrictive covenants.

Equipment Leases - The Company has certain equipment operating leases primarily including projectors, trash compactors and various other equipment used in the day-to-day operation of the business.  Certain of the leases require fixed lease payments to be made over the duration of the lease term, while others are variable in nature based on usage or sales.  Certain of these leases are month-to-month, while others are noncancelable with terms generally ranging from 5 to 12 years.  The Company’s equipment lease agreements do not contain any residual value guarantees or restrictive covenants.

The following table represents the operating and finance right-of-use assets and lease liabilities as of September 30, 2019.

		As of
Leases	Classification	September 30, 2019
Assets (1)
Operating lease assets	Operating lease assets	$	1,384,019
Finance lease assets	Theatre properties and equipment, net of accumulated depreciation and amortization (2)		103,059
Total lease assets		$	1,487,078
Liabilities (1)
Current
Operating	Current portion of operating lease obligations	$	215,015
Finance	Current portion of finance lease obligations		15,501
Noncurrent
Operating	Operating lease obligations, less current portion		1,230,152
Finance	Finance lease obligations, less current portion		126,344
Total lease liabilities		$	1,587,012

(1) The operating lease right-of-use assets and liabilities recorded on the Company’s condensed consolidated balance sheet generally do not include renewal options that have not yet been exercised.  The Company does not consider a lease renewal as reasonably certain until immediately before the necessary notification is provided to the landlord.

(2) Finance lease assets are net of accumulated amortization of $57,506 as of September 30, 2019.

As of September 30, 2019, the Company had signed lease agreements with total noncancelable lease payments of approximately $258,453 related to theatre leases that had not yet commenced.  The timing of lease commencement is dependent on the completion of construction of the related theatre facility.  Additionally, these amounts are based on estimated square footage and costs to construct each facility and may be subject to adjustment upon final completion of each construction project.  In accordance with ASC Topic 842, fixed minimum lease payments related to these theatres are not included in the right-of-use assets and lease liabilities as of September 30, 2019.  There were no significant noncancelable lease agreements signed, but not yet commenced, related to equipment leases.  

The following table represents the Company’s aggregate lease costs, by lease classification, for the three and nine months ended September 30, 2019.

		Three Months Ended		Nine Months Ended
Lease Cost	Classification	September 30, 2019		September 30, 2019
Operating lease costs
Equipment (1)	Utilities and other	$	1,569	$	5,173
Real Estate (2)(3)	Facility lease expense		88,149		262,783
Total operating lease costs		$	89,718	$	267,956
Finance lease costs
Amortization of leased assets	Depreciation and amortization	$	3,703	$	11,182
Interest on lease liabilities	Interest expense		1,922		5,927
Total finance lease costs		$	5,625	$	17,109

(1) Includes approximately $452 and $1,808 of short-term lease payments for the three and nine months ended September 30, 2019, respectively.  

(2) Includes approximately $18,591 and $54,209 of variable lease payments based on a change in index, such as CPI or inflation, variable payments based on revenues or attendance and variable common area maintenance costs for the three and nine months ended September 30, 2019

(3) Approximately $400 and $1,184 of lease payments are included in general and administrative expenses primarily related to office leases for the three and nine months ended September 30, 2019, respectively.  

The following table represents the maturity of lease liabilities, by lease classification, as of September 30, 2019.

	Operating		Finance
Years Ending	Leases		Leases		Total
2019	$	70,137	$	5,588	$	75,725
2020		276,114		22,373		298,487
2021		258,827		18,661		277,488
2022		229,272		17,925		247,197
2023		198,799		17,236		216,035
After 2023		704,440		101,110		805,550
Total lease payments	$	1,737,589	$	182,893	$	1,920,482
Less: Interest		292,422		41,048		333,470
Present value of lease liabilities	$	1,445,167	$	141,845	$	1,587,012

The following table represents future minimum lease payments under noncancelable operating and capital leases at December 31, 2018 as presented in the Company’s Annual Report on Form 10-K filed February 28, 2019:

	Operating		Capital
Years Ending	Leases		Leases
2019	$	253,323	$	42,434
2020		242,336		41,502
2021		230,396		34,589
2022		204,628		32,462
2023		176,802		28,534
Thereafter		677,091		166,375
Total	$	1,784,576		345,896
Amounts representing interest payments				(86,364	)
Present value of future minimum payments				259,532
Current portion of finance and capital lease obligations				(27,065	)
Capital lease obligations, less current portion			$	232,467

The following table represents the weighted-average remaining lease term and discount rate, disaggregated by lease classification, as of September 30, 2019.

	As of
Lease Term and Discount Rate	September 30, 2019
Weighted-average remaining lease term (years) (1)
Operating leases - equipment		4.1
Operating leases - real estate		7.9
Finance leases - equipment		5.9
Finance leases - real estate		10.6
Weighted-average discount rate (2)
Operating leases - equipment		4.3	%
Operating leases - real estate		4.8	%
Finance leases - equipment		5.5	%
Finance leases - real estate		5.2	%

(1) The lease assets and liabilities recorded on the Company’s condensed consolidated balance sheet generally do not include renewal options that have not yet been executed.  The Company does not consider a lease renewal exercise as reasonably certain until immediately before the necessary notification is provided to the landlord.

(2) The discount rate for each lease represents the incremental borrowing rate at which the Company would borrow, on a collateralized basis, over a similar term and at an amount equal to the lease payments in a similar economic environment.

The following table represents the minimum cash lease payments included in the measurement of lease liabilities and the non-cash addition of right-of-use assets for the nine months ended September 30, 2019.

	Nine Months Ended
Other Information	September 30, 2019
Cash paid for amounts included in the measurement of lease liabilities
Cash outflows for operating leases	$	211,940
Cash outflows for finance leases - operating activities	$	5,756
Cash outflows for finance leases - financing activities	$	10,830
Non-cash amount of leased assets obtained in exchange for:
Operating lease liabilities - real estate	$	53,526
Operating lease liabilities - equipment	$	668
Finance lease liabilities	$	—

Lessor Arrangements

As noted above, the Company did not reassess whether existing contracts in effect as of the transition date of January 1, 2019 were, or contained, a lease.  However, effective September 17, 2019, the Company amended its Exhibitor Services Agreement (“ESA”) with National CineMedia, LLC (“NCM”) and, as a result of this amendment, the Company reassessed the ESA under ASC Topic 842.  The Company’s assessment resulted in the determination that the nonconsecutive periods of use of the theatre screens by NCM under the ESA qualify as a lease in accordance with ASC Topic 842.  See further discussion in Note 8.

The Company rents its theatre auditoriums for corporate meetings, screenings, education and training sessions and other private events.  These rentals, which are not significant to the Company, are generally one-time events and the related revenue is reflected as other revenue on condensed consolidated statement of income.  

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Operating activities
Net income		$ 31,955	$ 50,621	$ 167,009	$ 195,262
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation				193,032	191,236
Amortization of intangible and other assets and favorable/unfavorable leases				3,763	2,420
Amortization of long-term prepaid rents	[1]		578		1,814
Amortization of debt issue costs				3,983	4,236
Loss on debt amendments and refinancing					1,484
Amortization of deferred revenues, deferred lease incentives and other				(12,203)	(16,264)
Impairment of long-lived assets		27,304	1,641	45,382	5,020
Share based awards compensation expense		3,840	3,486	10,486	10,364
Loss on disposal of assets and other		2,453	7,826	8,057	28,666
Non-cash rent expense	[2]	(1,102)		(3,252)
Deferred lease expenses	[1]		(20)		(952)
Equity in income of affiliates		(15,139)	(14,158)	(33,982)	(29,208)
Deferred income tax expenses				(5,314)	9,096
Distributions from equity investees				28,163	21,041
Changes in assets and liabilities and other				(7,909)	(74,161)
Net cash provided by operating activities				397,215	350,054
Investing activities
Additions to theatre properties and equipment		(71,343)	(83,373)	(186,512)	(245,962)
Acquisition of theatres in the U.S. and international markets, net of cash acquired				(10,170)	(11,289)
Proceeds from sale of theatre properties and equipment and other				377	3,557
Investment in joint ventures and other, net					(20,442)
Net cash used for investing activities				(196,305)	(352,529)
Financing activities
Dividends paid to stockholders				(119,452)	(112,108)
Payroll taxes paid as a result of stock withholdings				(2,247)	(2,905)
Repayments of long-term debt				(4,947)	(4,946)
Payment of debt issue costs					(5,103)
Fees paid related to debt amendments					(704)
Payments on finance and capital leases				(10,830)	(18,778)
Other				(1,588)
Net cash used for financing activities				(139,064)	(144,544)
Effect of exchange rate changes on cash and cash equivalents				(5,296)	(8,732)
Increase (decrease) in cash and cash equivalents				56,550	(155,751)
Cash and cash equivalents:
Beginning of period				426,222	522,547
End of period		482,772	366,796	482,772	366,796
NCM
Adjustments to reconcile net income to cash provided by operating activities:
Equity in income of affiliates		$ (9,050)	$ (6,830)	$ (14,062)	(11,341)
Investing activities
Acquisition of NCM common units					$ (78,393)

[1] Amounts for the three and nine months ended September 30, 2019 were impacted by the adoption of ASC Topic 842 and the resulting change in the classification of certain of the Company’s leases

[2] The adoption of ASC Topic 842 impacted how the Company amortizes lease related assets and liabilities such as deferred lease expenses, favorable and unfavorable lease intangible assets, long-term prepaid rents and deferred lease incentives.  Beginning January 1, 2019, these items are amortized to facility lease expense for theatre operating leases and utilities and other for equipment operating leases.  See Note 3 for discussion of the impact of ASC Topic 842

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Treasury Stock and Share Based Awards (Tables)

9 Months Ended

Sep. 30, 2019

Summary of Treasury Stock Activity

Below is a summary of the Company’s treasury stock activity for the nine months ended September 30, 2019:

	Number of
	Treasury
	Shares		Cost
Balance at January 1, 2019		4,626,191	$	79,259
Restricted stock withholdings (1)		57,456		2,247
Restricted stock forfeitures		19,351	—
Balance at September 30, 2019		4,702,998	$	81,506

(1) The Company withheld restricted shares as a result of the election by certain employees to satisfy their tax liabilities upon vesting in restricted stock and restricted stock units.  The Company determined the number of shares to be withheld based upon market values ranging from $36.81 to $40.32 per share.

Summary of Restricted Stock Activity

Below is a summary of restricted stock activity for the nine months ended September 30, 2019:

	Shares of			Weighted Average
	Restricted			Grant Date
	Stock			Fair Value
Outstanding at January 1, 2019		704,353		$	38.68
Granted		308,250		$	37.42
Vested		(198,711	)	$	41.38
Forfeited		(19,351	)	$	37.41
Outstanding at September 30, 2019		794,541		$	37.55
Unvested restricted stock at September 30, 2019		794,541		$	37.55

Summary of Restricted Stock Unit Award Activity

Below is a table summarizing the potential number of shares that could vest under restricted stock unit awards granted during the nine months ended September 30, 2019 at each of the three target levels of financial performance (excluding forfeiture assumptions):

	Number of
	Shares		Value at
	Vesting		Grant
at IRR of at least 6%		136,285	$	5,011
at IRR of at least 8%		204,427	$	7,517
at IRR of at least 14%		306,651	$	11,276

Restricted Stock

Summary of Restricted Stock Award Activity

	Nine Months Ended September 30,
	2019		2018
Compensation expense recognized during the period	$	7,456	$	7,266
Fair value of restricted shares that vested during the period	$	7,630	$	7,815
Income tax benefit recognized upon vesting of restricted stock awards	$	1,473	$	1,751

Restricted Stock Units (RSUs)

Summary of Restricted Stock Unit Award Activity

	Nine Months Ended September 30,
	2019		2018
Number of restricted stock unit awards that vested during the period		88,074		127,084
Fair value of restricted stock unit awards that vested during the period	$	3,550	$	4,846
Accumulated dividends paid upon vesting of restricted stock unit awards	$	375	$	526
Compensation expense recognized during the period	$	3,030	$	3,098
Income tax benefit recognized upon vesting of restricted stock unit awards	$	175	$	740

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Foreign Currency Translation (Tables)

9 Months Ended

Sep. 30, 2019

Fair Value Disclosures [Abstract]

Summary of Impact of Translating Financial Statements of Company's International Subsidiaries

Below is a summary of the impact of translating the September 30, 2019 financial statements of the Company’s international subsidiaries:

					Other Comprehensive Loss for
	Exchange Rate as of				Nine Months Ended
Country	September 30, 2019		December 31, 2018		September 30, 2019			September 30, 2018
Brazil		4.16		3.88	$	(14,492	)	$	(42,588	)
Argentina (1)		57.41		37.68		—			(18,272	)
Chile		727.65		694.74		(4,017	)		(4,822	)
Colombia		3,462.00		3,249.75		(1,507	)		70
Peru		3.40		3.39		(203	)		(891	)
All other						491			(338	)
					$	(19,728	)	$	(66,841	)

(1)   Beginning July 1, 2018, Argentina was deemed highly inflationary.  The impact of translating Argentina financial results to U.S. dollars, which was not significant, has been recorded in foreign currency exchange loss on the Company’s condensed consolidated statement of income.  

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CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 30, 2019	Dec. 31, 2018
Statement Of Financial Position [Abstract]
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	300,000,000	300,000,000
Common stock, shares issued	121,853,045	121,456,721
Common stock, shares outstanding	117,150,047	116,830,530
Treasury stock, shares	4,702,998	4,626,191

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Computations of Basic and Diluted Earnings Per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Earnings Per Share Disclosure [Line Items]
Net income attributable to Cinemark Holdings, Inc.		$ 31,353	$ 50,228	$ 165,052	$ 194,384
Earnings allocated to participating share-based awards	[1]	(211)	(304)	(1,012)	(1,123)
Net income attributable to common stockholders		$ 31,142	$ 49,924	$ 164,040	$ 193,261
Basic weighted average common stock outstanding		116,356	116,119	116,288	116,032
Diluted common equivalent shares		116,600	116,322	116,577	116,288
Basic earnings per share attributable to common stockholders		$ 0.27	$ 0.43	$ 1.41	$ 1.66
Diluted earnings per share attributable to common stockholders		$ 0.27	$ 0.43	$ 1.41	$ 1.66
Restricted Stock Units (RSUs)
Earnings Per Share Disclosure [Line Items]
Common equivalent shares for restricted stock units		244	203	289	256

[1] For the three months ended September 30, 2019 and 2018, a weighted average of approximately 793 and 708 shares of restricted stock, respectively, were considered participating securities.  For the nine months ended September 30, 2019 and 2018, a weighted average of approximately 719 and 677 shares of restricted stock, respectively, were considered participating securities.

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Summary of Revenues Disaggregated Based on Timing of Revenue Recognition (Detail) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Disaggregation of Revenue [Line Items]
Total revenues		$ 821,817	$ 754,235	$ 2,494,296	$ 2,423,259
U.S. Operating Segment
Disaggregation of Revenue [Line Items]
Total revenues	[1]	633,045	582,275	1,930,787	1,887,692
International Operating Segment
Disaggregation of Revenue [Line Items]
Total revenues		188,772	171,960	563,509	535,567
Goods and Services Transferred at a Point in Time
Disaggregation of Revenue [Line Items]
Total revenues		779,234	717,140	2,365,530	2,306,928
Goods and Services Transferred at a Point in Time | U.S. Operating Segment
Disaggregation of Revenue [Line Items]
Total revenues	[1]	610,063	561,849	1,860,828	1,824,138
Goods and Services Transferred at a Point in Time | International Operating Segment
Disaggregation of Revenue [Line Items]
Total revenues		169,171	155,291	504,702	482,790
Goods and Services Transferred Over Time
Disaggregation of Revenue [Line Items]
Total revenues		42,583	37,095	128,766	116,331
Goods and Services Transferred Over Time | U.S. Operating Segment
Disaggregation of Revenue [Line Items]
Total revenues	[1]	22,982	20,426	69,959	63,554
Goods and Services Transferred Over Time | International Operating Segment
Disaggregation of Revenue [Line Items]
Total revenues		$ 19,601	$ 16,669	$ 58,807	$ 52,777

[1] U.S. segment revenues include eliminations of intercompany transactions with the international operating segment.  See Note 16 for additional information on intercompany eliminations.

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Summary Financial Information for DCIP (Detail) - Other Affiliates - Digital Cinema Implementation Partners - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Schedule Of Equity Method Investments [Line Items]
Gross revenues	$ 40,200	$ 43,403	$ 125,869	$ 126,957
Operating income	22,617	25,816	73,396	74,310
Net income	22,362	$ 24,311	69,323	$ 68,014
Current assets	64,019		64,019		$ 57,907
Noncurrent assets	603,209		603,209		684,545
Current liabilities	66,942		66,942		67,408
Noncurrent liabilities	11,985		11,985		125,596
Members' equity	$ 588,301		$ 588,301		$ 549,448

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Goodwill and Other Intangible Assets - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2019 Community Country
U.S. Operating Segment
Goodwill [Line Items]
Number of reporting unit | Community	19
International Operating Segment
Goodwill [Line Items]
Number of reporting unit | Country	7

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Impairment of Long-Lived Assets - Additional Information (Detail) $ in Thousands	9 Months Ended
	Sep. 30, 2019 USD ($)	Sep. 30, 2018
Impairment Or Disposal Of Tangible Assets Disclosure [Abstract]
Estimated aggregate fair value of long-lived assets impaired during current period	$ 27,383
Multiple of cash flows used to estimate fair value of long-lived asset	6.5	6.5

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Treasury Stock and Share Based Awards - Additional Information (Detail) $ / shares in Units, $ in Thousands	9 Months Ended
	Sep. 30, 2019 USD ($) $ / shares shares
Restricted Stock
Stockholders Equity Note [Line Items]
Number of restricted shares | shares	308,250
Market value of common stock on the dates of grant | $ / shares	$ 37.42
Restricted Stock | Minimum
Stockholders Equity Note [Line Items]
Market value of common stock on the dates of grant | $ / shares	$ 36.70
Forfeiture rate for restricted stock awards	0.00%
Award vesting period for restricted stock	1 year
Restricted Stock | Maximum
Stockholders Equity Note [Line Items]
Market value of common stock on the dates of grant | $ / shares	$ 41.61
Forfeiture rate for restricted stock awards	10.00%
Award vesting period for restricted stock	4 years
Unvested Restricted Stock Awards
Stockholders Equity Note [Line Items]
Unrecognized compensation expense | $	$ 17,998
Remaining Compensation Expense recognition period (in years)	2 years
Restricted Stock Units (RSUs)
Stockholders Equity Note [Line Items]
Market value of common stock on the dates of grant | $ / shares	$ 36.77
Unrecognized compensation expense | $	$ 11,128
Remaining Compensation Expense recognition period (in years)	2 years
Share-based compensation arrangement by share-based payment award, description	The financial performance factors are based on an implied equity value concept that determines an internal rate of return (“IRR”) during the two fiscal year periods ending December 31, 2020 based on a formula utilizing a multiple of Adjusted EBITDA subject to certain adjustments as specified by the Compensation Committee prior to the grant date
Internal rate of return, performance period	2 years
Percentage of IRR, which is the threshold	6.00%
Percentage of IRR, which is the target	8.00%
Percentage of IRR, which is the maximum	14.00%
Percentage of IRR expected	11.00%
Share-based compensation arrangement by share-based payment award, vesting condition	All restricted stock units granted during 2019 will vest subject to an additional two-year service requirement and will be paid in the form of common stock if the participant continues to provide services through the fourth anniversary of the grant date
Expected forfeiture rate	5.00%
Number of hypothetical shares of common stock at maximum IRR level | shares	554,529
Percentage of IRR, which is the threshold, before modification	7.00%
Percentage of IRR, which is the target before modification	9.50%
Percentage of IRR, which is the maximum before modification	13.00%
Restricted Stock Units (RSUs) | Stock Grants 2016
Stockholders Equity Note [Line Items]
Achieved Percentage of IRR	7.20%
Impact of modification of awards | $	$ 132
Impact of final performance measure | $	$ 563
Restricted Stock Units (RSUs) | Stock Grants 2017
Stockholders Equity Note [Line Items]
Achieved Percentage of IRR	9.30%
Restricted Stock Units (RSUs) | Maximum | Threshold IRR
Stockholders Equity Note [Line Items]
Vesting percentage of restricted stock units	33.33%
Restricted Stock Units (RSUs) | Maximum | Targeted IRR
Stockholders Equity Note [Line Items]
Vesting percentage of restricted stock units	66.66%
Restricted Stock Units (RSUs) | Maximum | Maximum IRR
Stockholders Equity Note [Line Items]
Vesting percentage of restricted stock units	100.00%

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Summary of Goodwill (Detail) $ in Thousands	9 Months Ended
	Sep. 30, 2019 USD ($)
Goodwill [Line Items]
Beginning Balance	$ 1,276,324	[1]
Theatres acquired in Brazil	9,681	[2]
Foreign currency translation adjustments	(4,651)
Ending Balance	1,281,354	[1]
U.S. Operating Segment
Goodwill [Line Items]
Beginning Balance	1,174,041	[1]
Theatres acquired in Brazil	8,812	[2]
Ending Balance	1,182,853	[1]
International Operating Segment
Goodwill [Line Items]
Beginning Balance	102,283	[1]
Theatres acquired in Brazil	869	[2]
Foreign currency translation adjustments	(4,651)
Ending Balance	$ 98,501	[1]

[1] Balances are presented net of accumulated impairment losses of $214,031 for the U.S. operating segment and $27,622 for the international operating segment.

[2] Amount represents final purchase price allocation for two theatres acquired in the U.S. during 2019 and the final purchase price allocation adjustment for theatres acquired in Brazil during 2018.

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Fair Value Measurements - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2019 USD ($)
Fair Value Disclosures [Abstract]
Fair value of assets transfers in or out, level 1 to level 2	$ 0
Fair value of assets transfers in or out, level 2 to level 1	0
Fair value, asset transfers into Level 3	0
Fair value, asset transfers out of Level 3	$ 0

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Schedule of Operating and Finance Right-of-Use Assets and Lease Liabilities (Parenthetical) (Detail) $ in Thousands	Sep. 30, 2019 USD ($)
Leases [Abstract]
Finance lease assets, accumulated amortization	$ 57,506

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Future Minimum Lease Payments Under Noncancelable Operating and Capital Leases (Detail) $ in Thousands	Dec. 31, 2018 USD ($)
Leases [Abstract]
Future minimum operating lease payments, current	$ 253,323
Future minimum operating lease payments, in two years	242,336
Future minimum operating lease payments, in three years	230,396
Future minimum operating lease payments, in four years	204,628
Future minimum operating lease payments, in five years	176,802
Future minimum operating lease payments, thereafter	677,091
Future minimum operating lease payments, total	1,784,576
Future minimum capital leases payments, current	42,434
Future minimum capital leases payments, in two years	41,502
Future minimum capital leases payments, in three years	34,589
Future minimum capital leases payments, in four years	32,462
Future minimum capital leases payments, in five years	28,534
Future minimum capital leases payments, thereafter	166,375
Future minimum capital leases payments, total	345,896
Amounts representing interest payments	(86,364)
Present value of future minimum payments	259,532
Current portion of finance and capital lease obligations	(27,065)
Capital lease obligations, less current portion	$ 232,467

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Summary Financial Information for National CineMedia (Detail) - NCM - USD ($) $ in Thousands	3 Months Ended		6 Months Ended	9 Months Ended
	Jun. 27, 2019	Sep. 27, 2018	Jun. 27, 2019	Sep. 27, 2018	Dec. 27, 2018
Schedule Of Equity Method Investments [Line Items]
Gross revenues	$ 110,200	$ 110,100	$ 187,100	$ 304,000
Operating income	37,700	42,300	48,600	93,500
Net income	23,500	$ 28,500	20,600	$ 50,500
Current assets	141,100		141,100		$ 172,700
Noncurrent assets	732,900		732,900		726,800
Current liabilities	88,400		88,400		115,200
Noncurrent liabilities	939,300		939,300		924,900
Members deficit	$ (153,700)		$ (153,700)		$ (140,600)

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Summary of Activity with NCM Included in Company's Consolidated Financial Statements (Parenthetical) (Detail) $ in Thousands	9 Months Ended
	Sep. 30, 2019 USD ($)
Equity Method Investments And Joint Ventures [Abstract]
Company's beverage concessionaire advertising costs	$ 8,808

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Selected Financial Information by Reportable Operating Segment (Detail) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Segment Reporting Information [Line Items]
Revenues		$ 821,817	$ 754,235	$ 2,494,296	$ 2,423,259
Adjusted EBITDA	[1]	169,758	168,392	566,750	583,425
Capital expenditures		71,343	83,373	186,512	245,962
U.S. Operating Segment
Segment Reporting Information [Line Items]
Revenues	[2]	633,045	582,275	1,930,787	1,887,692
International Operating Segment
Segment Reporting Information [Line Items]
Revenues		188,772	171,960	563,509	535,567
Operating Segments | U.S. Operating Segment
Segment Reporting Information [Line Items]
Revenues		636,628	585,536	1,941,545	1,897,664
Adjusted EBITDA		132,347	132,652	453,404	476,907
Capital expenditures		50,679	65,458	148,609	195,104
Operating Segments | International Operating Segment
Segment Reporting Information [Line Items]
Revenues		188,772	171,960	563,509	535,567
Adjusted EBITDA		37,411	35,740	113,346	106,518
Capital expenditures		20,664	17,915	37,903	50,858
Eliminations
Segment Reporting Information [Line Items]
Revenues		$ (3,583)	$ (3,261)	$ (10,758)	$ (9,972)

[1] Amounts for the three and nine months ended September 30, 2019 were impacted by the adoption of ASC Topic 842 and the resulting change in the classification of certain of the Company’s leases

[2] U.S. segment revenues include eliminations of intercompany transactions with the international operating segment.  See Note 16 for additional information on intercompany eliminations.

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Foreign Currency Translation - Additional Information (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2019	Dec. 31, 2018
Foreign Currency [Abstract]
Accumulated other comprehensive income (loss)	$ 349,381	$ 319,007
Cumulative foreign currency adjustments	$ 335,028	$ 315,300
Cumulative inflation rate	100.00%
Cumulative inflation period	3 years

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Long Term Debt Activity - Summary of Company's Interest Rate Swap Agreements Designated as Cash Flow Hedges (Parenthetical) (Detail) $ in Thousands	Sep. 30, 2019 USD ($)
Accounts Payable and Accrued Expenses
Debt Instrument [Line Items]
Estimated Fair Value	$ 3,746
Other Long-term Liabilities
Debt Instrument [Line Items]
Estimated Fair Value	$ 15,242

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Adoption of ASC Topic 842 - Lease Accounting (Tables)

9 Months Ended

Sep. 30, 2019

Leases [Abstract]

Schedule of Operating and Finance Right-of-Use Assets and Lease Liabilities

The following table represents the operating and finance right-of-use assets and lease liabilities as of September 30, 2019.

		As of
Leases	Classification	September 30, 2019
Assets (1)
Operating lease assets	Operating lease assets	$	1,384,019
Finance lease assets	Theatre properties and equipment, net of accumulated depreciation and amortization (2)		103,059
Total lease assets		$	1,487,078
Liabilities (1)
Current
Operating	Current portion of operating lease obligations	$	215,015
Finance	Current portion of finance lease obligations		15,501
Noncurrent
Operating	Operating lease obligations, less current portion		1,230,152
Finance	Finance lease obligations, less current portion		126,344
Total lease liabilities		$	1,587,012

(1) The operating lease right-of-use assets and liabilities recorded on the Company’s condensed consolidated balance sheet generally do not include renewal options that have not yet been exercised.  The Company does not consider a lease renewal as reasonably certain until immediately before the necessary notification is provided to the landlord.

(2) Finance lease assets are net of accumulated amortization of $57,506 as of September 30, 2019.

Schedule of Aggregate Lease Costs by Lease Classification

The following table represents the Company’s aggregate lease costs, by lease classification, for the three and nine months ended September 30, 2019.

		Three Months Ended		Nine Months Ended
Lease Cost	Classification	September 30, 2019		September 30, 2019
Operating lease costs
Equipment (1)	Utilities and other	$	1,569	$	5,173
Real Estate (2)(3)	Facility lease expense		88,149		262,783
Total operating lease costs		$	89,718	$	267,956
Finance lease costs
Amortization of leased assets	Depreciation and amortization	$	3,703	$	11,182
Interest on lease liabilities	Interest expense		1,922		5,927
Total finance lease costs		$	5,625	$	17,109

(1) Includes approximately $452 and $1,808 of short-term lease payments for the three and nine months ended September 30, 2019, respectively.  

(2) Includes approximately $18,591 and $54,209 of variable lease payments based on a change in index, such as CPI or inflation, variable payments based on revenues or attendance and variable common area maintenance costs for the three and nine months ended September 30, 2019

(3) Approximately $400 and $1,184 of lease payments are included in general and administrative expenses primarily related to office leases for the three and nine months ended September 30, 2019, respectively.  

Schedule of Maturity of Lease Liabilities by Lease Classification

The following table represents the maturity of lease liabilities, by lease classification, as of September 30, 2019.

	Operating		Finance
Years Ending	Leases		Leases		Total
2019	$	70,137	$	5,588	$	75,725
2020		276,114		22,373		298,487
2021		258,827		18,661		277,488
2022		229,272		17,925		247,197
2023		198,799		17,236		216,035
After 2023		704,440		101,110		805,550
Total lease payments	$	1,737,589	$	182,893	$	1,920,482
Less: Interest		292,422		41,048		333,470
Present value of lease liabilities	$	1,445,167	$	141,845	$	1,587,012

Estimated Future Minimum Lease Payments Under Operating Leases

The following table represents future minimum lease payments under noncancelable operating and capital leases at December 31, 2018 as presented in the Company’s Annual Report on Form 10-K filed February 28, 2019:

	Operating		Capital
Years Ending	Leases		Leases
2019	$	253,323	$	42,434
2020		242,336		41,502
2021		230,396		34,589
2022		204,628		32,462
2023		176,802		28,534
Thereafter		677,091		166,375
Total	$	1,784,576		345,896
Amounts representing interest payments				(86,364	)
Present value of future minimum payments				259,532
Current portion of finance and capital lease obligations				(27,065	)
Capital lease obligations, less current portion			$	232,467

Estimated Future Minimum Lease Payments Under Capital Leases

The following table represents future minimum lease payments under noncancelable operating and capital leases at December 31, 2018 as presented in the Company’s Annual Report on Form 10-K filed February 28, 2019:

	Operating		Capital
Years Ending	Leases		Leases
2019	$	253,323	$	42,434
2020		242,336		41,502
2021		230,396		34,589
2022		204,628		32,462
2023		176,802		28,534
Thereafter		677,091		166,375
Total	$	1,784,576		345,896
Amounts representing interest payments				(86,364	)
Present value of future minimum payments				259,532
Current portion of finance and capital lease obligations				(27,065	)
Capital lease obligations, less current portion			$	232,467

Schedule of Weighted-Average Remaining Lease Term and Discount Rate

The following table represents the weighted-average remaining lease term and discount rate, disaggregated by lease classification, as of September 30, 2019.

	As of
Lease Term and Discount Rate	September 30, 2019
Weighted-average remaining lease term (years) (1)
Operating leases - equipment		4.1
Operating leases - real estate		7.9
Finance leases - equipment		5.9
Finance leases - real estate		10.6
Weighted-average discount rate (2)
Operating leases - equipment		4.3	%
Operating leases - real estate		4.8	%
Finance leases - equipment		5.5	%
Finance leases - real estate		5.2	%

(1) The lease assets and liabilities recorded on the Company’s condensed consolidated balance sheet generally do not include renewal options that have not yet been executed.  The Company does not consider a lease renewal exercise as reasonably certain until immediately before the necessary notification is provided to the landlord.

(2) The discount rate for each lease represents the incremental borrowing rate at which the Company would borrow, on a collateralized basis, over a similar term and at an amount equal to the lease payments in a similar economic environment.

Schedule of Minimum Cash Lease Payments

The following table represents the minimum cash lease payments included in the measurement of lease liabilities and the non-cash addition of right-of-use assets for the nine months ended September 30, 2019.

	Nine Months Ended
Other Information	September 30, 2019
Cash paid for amounts included in the measurement of lease liabilities
Cash outflows for operating leases	$	211,940
Cash outflows for finance leases - operating activities	$	5,756
Cash outflows for finance leases - financing activities	$	10,830
Non-cash amount of leased assets obtained in exchange for:
Operating lease liabilities - real estate	$	53,526
Operating lease liabilities - equipment	$	668
Finance lease liabilities	$	—

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Supplemental Cash Flow Information

9 Months Ended

Sep. 30, 2019

Supplemental Cash Flow Elements [Abstract]

Supplemental Cash Flow Information

15. Supplemental Cash Flow Information

The following is provided as supplemental information to the condensed consolidated statements of cash flows:

	Nine Months Ended
	September 30,
	2019			2018
Cash paid for interest	$	56,326		$	62,773
Cash paid for income taxes, net of refunds received	$	69,498		$	42,631
Noncash investing and financing activities:
Change in accounts payable and accrued expenses for the acquisition of theatre properties and equipment (1)	$	(13,642	)	$	7,050
Theatre properties acquired under capital lease	$	—		$	4,035
Interest expense - NCM (see Note 8)	$	(14,180	)	$	(14,875	)
Investment in NCM – receipt of common units (see Note 8)	$	1,552		$	5,012
Dividends accrued on unvested restricted stock unit awards	$	(486	)	$	(416	)

(1) Additions to theatre properties and equipment included in accounts payable as of September 30, 2019 and December 31, 2018 were $23,362 and $37,004, respectively.