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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities:        
Net loss     $ (459,000) $ (911,200)
Adjustments to reconcile net loss to net cash used in operating activities:        
Depreciation and amortization $ 97,400 $ 105,700 196,100 219,800
Deferred income taxes     300 (12,300)
Loss on extinguishment of debt (38,600)   96,400  
Amortization of net discount (premium) on corporate borrowings to interest expense     (32,000) 24,500
Amortization of deferred financing costs to interest expense     6,800 15,500
PIK interest expense       107,100
Non-cash portion of stock-based compensation     25,900 13,800
Gain on disposition of assets     (400)  
Gain on dispositions of Baltics       (5,500)
Equity in loss from non-consolidated entities, net of distributions     6,700 5,500
Landlord contributions     5,200 11,100
Other non-cash rent benefit (6,900) (11,700) (14,000) (19,200)
Deferred rent     (90,700) (29,900)
Net periodic benefit income     (200) (400)
Change in assets and liabilities:        
Receivables     46,400 6,300
Other assets     (26,300) (11,000)
Accounts payable     (58,400) (67,900)
Accrued expenses and other liabilities     (82,700) 116,800
Other, net     14,900 (8,500)
Net cash used in operating activities (76,600) (233,800) (371,600) (546,700)
Cash flows from investing activities:        
Capital expenditures (40,400) (17,900) (75,200) (29,800)
Proceeds from disposition of Baltics, net of cash and transaction costs       35,200
Acquisition of theatre assets (17,800)   (17,800)  
Proceeds from disposition of long-term assets     7,200 1,400
Proceeds from sale of securities     11,400  
Investments in non-consolidated entities, net     (27,900) (9,300)
Other, net     (600)  
Net cash used in investing activities (48,000) 13,500 (102,900) (2,500)
Cash flows from financing activities:        
Repayments under revolving credit facilities       (335,000)
Scheduled principal payments under Term Loan due 2026     (10,000) (10,000)
Net proceeds from Class A common stock issuance       1,570,800
Net proceeds from Class A common stock issuance to Mudrick       230,400
Payments related to sale of noncontrolling interest       (400)
Principal payments under finance lease obligations     (5,400) (3,900)
Cash used to pay for deferred financing costs (1,800)   (19,500) (19,300)
Cash used to pay dividends     (700)  
Taxes paid for restricted unit withholdings     (52,200)  
Net cash provided by (used in) financing activities (59,700) 1,212,200 (136,000) 2,066,900
Effect of exchange rate changes on cash and cash equivalents and restricted cash (16,400) 5,600 (21,900) 500
Net increase (decrease) in cash and cash equivalents and restricted cash (200,700) 997,500 (632,400) 1,518,200
Cash and cash equivalents and restricted cash at beginning of period 1,188,600 842,100 1,620,300 321,400
Cash and cash equivalents and restricted cash at end of period 987,900 1,839,600 987,900 1,839,600
Cash paid during the period for:        
Interest (including amounts capitalized of $0.1 million and $0.5 million, respectively)     178,700 98,700
Income taxes paid (received), net     1,400 (6,100)
Schedule of non-cash activities:        
Investment in NCM     15,100  
Construction payables at period end 30,900 $ 15,000 30,900 15,000
Second Lien Notes due 2026        
Cash flows from financing activities:        
Repurchase of Second Lien Notes due 2026     (50,000)  
First Lien Notes due 2029        
Cash flows from financing activities:        
Proceeds from issuance of Notes     950,000  
Odeon Term Loan due 2023        
Cash flows from financing activities:        
Proceeds from issuance of Odeon Term Loan due 2023       534,300
First Lien Toggle Notes due 2026        
Cash flows from financing activities:        
Proceeds from issuance of Notes       100,000
Payment of principal     (73,500)  
Premium paid to extinguish notes     (14,600)  
First Lien Notes due 2025        
Cash flows from financing activities:        
Payment of principal     (500,000)  
Premium paid to extinguish notes     (34,500)  
First Lien Notes due 2026        
Cash flows from financing activities:        
Payment of principal     (300,000)  
Premium paid to extinguish notes     (25,600)  
NCM        
Adjustments to reconcile net loss to net cash used in operating activities:        
Unrealized (gain) loss on investments $ 9,600   9,500 $ (1,200)
Hycroft        
Adjustments to reconcile net loss to net cash used in operating activities:        
Unrealized (gain) loss on investments     $ (16,100)