CINEMARK USA INC /TX
For the period ended Sep 30, 2025. Filed Nov 5, 2025.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Nov 5, 2025
CNK$38.90-2.8%Stored close · as of Nov 6, 2026
What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-Q
Period ended 2025-06-30; filed 2025-08-01.
0000950170-25-101099
Item 2. Management's Discussion and Analysis of Financial Condition and Results of OperationsCurrent report: 10-Q
Period ended 2025-09-30; filed 2025-11-05.
0001193125-25-265664
Item 2. Management's Discussion and Analysis of Financial Condition and Results of OperationsThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 140 previous paragraphs and 141 current paragraphs.
62 unchanged; 66 reworded; 11 added; 9 removed; 3 previous and 2 current paragraphs rearranged.
Tables are not compared: 10 previous and 10 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Added paragraphs (11)
Current report
On November 4, 2025, Holdings’ Board of Directors approved an increase to the annual cash dividend from $0.32 to $0.36 per share of common stock per annum, or $0.09 per quarter, effective for our next quarterly dividend payment. The next quarterly dividend will be payable on December 12, 2025 to shareholders of record as of November 28, 2025.
Current report
Third quarter of 2025 - The North American Industry box office was approximately $2.5 billion during the third quarter of 2025 which included new releases Superman, Jurassic World: Rebirth, The Fantastic Four: First Steps, The Conjuring: Last Rites, and Weapons.
Current report
Third quarter of 2024 - The North American Industry box office was approximately $2.7 billion during the third quarter of 2024, which included new releases Deadpool & Wolverine, Despicable Me 4, Twisters, Beetlejuice Beetlejuice, and the carryover of Inside Out 2.
Current report
U.S. Attendance decreased 11.7% to 33.2 million patrons during the third quarter of 2025 compared with 37.6 million patrons during the third quarter of 2024 reflecting a film slate that did not resonate as strongly with audiences compared with the third quarter of 2024. Average ticket price increased 5.2% to $10.50 during the third quarter of 2025 compared with $9.98 during the third quarter of 2024 primarily driven by strategic pricing actions and a higher mix of alternative content that carried elevated ticket pricing compared with traditional films. Concession revenue per patron increased 2.9% to $8.20 during the third quarter of 2025 compared with $7.97 during the third quarter of 2024 primarily driven by strategic pricing actions and a higher mix of merchandise. Other revenue for the third quarter of 2025 decreased 5.9% to $62.7 million compared with $66.6 million during the third quarter of 2024 primarily due to lower attendance, which drove a decrease in the variable components of other revenue, particularly transactional fees and screen advertising, partially offset by an increase in promotional income and gaming revenue.
Current report
Salaries and wages decreased 2.6% to $88.7 million for the third quarter of 2025 compared with $91.1 million for the third quarter of 2024 due to lower attendance, reduced operating hours and the favorable impact of labor productivity initiatives, partially offset by wages and benefits inflation. Facility lease expense decreased 3.9% to $61.0 million driven by lower percentage rent. Utilities and other costs increased 1.7% to $99.0 million, primarily driven by higher electricity, repairs and maintenance, and gift card costs.
Current report
Loss on Warrants. Holdings recorded a loss on warrants of $54.5 million during the third quarter of 2025 primarily related to the fair value adjustments recorded as a result of the Warrant Early Termination Agreements entered into on August 15, 2025. See further discussion of the warrants in Note 7 to the condensed consolidated financial statements and in Liquidity and Capital Resources below.
Current report
2024 Period - The North American Industry box office generated approximately $6.4 billion during the 2024 period, which included new releases Inside Out 2, Deadpool & Wolverine, Despicable Me 4, Dune: Part Two, and Twisters.
Current report
Loss on Warrants. We recorded a loss on warrants of $54.5 million during the 2025 period related to the fair value adjustments recorded as a result of the Warrant Early Termination Agreements entered into on August 15, 2025. See further discussion of the warrants in Note 7 to the condensed consolidated financial statements and in Liquidity and Capital Resources below.
Current report
On August 15, 2025, Holdings entered into irrevocable warrant unwind and termination agreements with each of the warrant counterparties to unwind the warrant transactions the Company had entered into in connection with the issuance of the 4.50% Convertible Senior Notes (the “Warrant Early Termination Agreements”). Pursuant to the Warrant Early Termination Agreements, the Company will deliver approximately equal amounts of cash and shares of Holdings’ common stock to mitigate shareholder dilution. During the period from August 15, 2025 through September 30, 2025, the Company paid approximately $39.2 million in cash and issued 1.4 million shares of Holdings’ common stock with a value of approximately $39.2 million to settle a portion of the warrant transactions. Subsequent to September 30, 2025, the Company paid approximately $58.7 million in cash and issued 2.2 million shares of Holdings’ common stock with a value of approximately $58.7 million to settle the remaining warrant transactions in accordance with the Warrant Early Termination Agreements, with the final settlement to occur on November 5, 2025. See “4.50% Convertible Senior Notes”below.
Current report
On August 15, 2025, Holdings entered into Warrant Early Termination Agreements, pursuant to which the Company will deliver cash and shares to each counterparty, the amount of which is determined based upon the volume-weighted average price per share of the Company’s common stock during the observation period from August 18, 2025 through November 3, 2025, as specified in the Warrant Early Termination Agreements. Since a portion of the warrants are settled in cash under the Warrant Early Termination Agreements, the warrants were required to be accounted for as a liability, at estimated fair value, effective August 15, 2025. The estimated fair value of the liability was derived using a Monte Carlo simulation model. The estimated fair value of the warrants under the terms of the Warrant Early Termination Agreements exceeded the estimated fair value of the previously existing warrants by $15.1 million, and therefore the Company recognized a loss for that amount on August 15, 2025. During the period from August 15, 2025 through September 30, 2025, the Company paid approximately $39.2 million in cash and issued 1.4 million shares of Holdings’ common stock with a value of approximately $39.2 million to settle a portion of the warrant transactions. The estimated fair value of the liability for the remaining warrants at September 30, 2025 was $132.6 million and is reflected in “Liability for warrants” in Holdings’ condensed consolidated balance sheet at September 30, 2025. The Company recognized a loss of $39.4 million related to the fair value adjustment of the warrant liability between August 15, 2025 and September 30, 2025. The losses related to the warrants are collectively reflected as “Loss on warrants” in the Company’s condensed consolidated statements of income for the three and nine months ended September 30, 2025. Subsequent to September 30, 2025, the Company paid approximately $58.7 million in cash and issued 2.2 million shares of Holdings’ common stock with a value of approximately $58.7 million to settle the remaining warrant transactions in accordance with the Warrant Early Termination Agreements, with the final settlement to occur on November 5, 2025.
Current report
On September 5, 2025, CUSA amended and restated its Credit Agreement to increase the revolving credit facility to $225.0 million and to reduce the range of rates at which the revolving credit loans bear interest. In addition, the rate at which CUSA is required to pay a commitment fee on the revolving line of credit now ranges from 0.25% to 0.375%. See below for additional discussion of interest rates on the revolving credit facility, and Note 7 to the condensed consolidated financial statements for additional information on the amendment of the revolving credit facility.
Removed paragraphs (9)
Previous report
Second quarter of 2024 -The North American Industry box office was approximately $2.0 billion during the 2024 period, which included new releases Inside Out 2, Kingdom of the Planet of the Apes, Bad Boys: Ride or Die, Godzilla x Kong: The New Empire, IF and The Fall Guy.
Previous report
U.S. Attendance increased 26.8% to 36.9 million patrons during the second quarter of 2025 compared with 29.1 million patrons during the second quarter of 2024 primarily driven by a film slate with stronger consumer appeal and the enhanced scale of content released during the second quarter of 2025. Average ticket price increased 5.2% to $10.39 during the second quarter of 2025 compared with $9.88 during the second quarter of 2024 primarily driven by strategic pricing initiatives and, to a lesser extent, favorable format and ticket type mix. Concession revenue per patron increased 4.9% to $8.34 during the second quarter of 2025 compared with $7.95 during the second quarter of 2024 primarily driven by strategic pricing actions, a higher mix of merchandise and increased incidence rates. Other revenue for the second quarter of 2025 increased 28.4% to $68.3 million compared with $53.2 million during the second quarter of 2024 primarily due to higher attendance, which drove an increase in the variable components of other revenue such as transaction fees and promotional income, as well as higher gaming revenue.
Previous report
Salaries and wages increased 12.5% to $90.9 million for the second quarter of 2025 compared with $80.8 million for the second quarter of 2024 due to higher attendance, expanded operating hours, and wages and benefits inflation, partially offset by labor productivity initiatives. Facility lease expense, which is predominantly fixed in nature, increased 3.7% to $62.2 million primarily due to higher percentage rent. Utilities and other costs increased 22.0% to $97.7 million, driven by the increase in attendance, as many of these costs are variable or semi-variable in nature, primarily credit card fees and repairs and maintenance. An increase in real estate taxes and property and liability insurance also contributed to the increase.
Previous report
2025 Period -The North American Industry box office generated approximately $4.2 billion during the 2025 period, which included new releases A Minecraft Movie, Lilo & Stitch, Sinners, How to Train Your Dragon, Captain America: Brave New World, Thunderbolts*, Mission: Impossible - The Final Reckoningand Final Destination: Bloodlines, as well as the carryover of the 2024 release Mufasa: The Lion King.
Previous report
2024 Period -The North American Industry box office was approximately $3.7 billion during the 2024 period, which included new releases Inside Out 2, Dune: Part Two, Godzilla x Kong: The New Empire, Kung Fu Panda 4, Kingdom of the Planet of the Apes, Bad Boys: Ride or Die, Ghostbusters: Frozen Empire, IF, Bob Marley: One Love and The Fall Guy.
Previous report
The estimated number of shares to be issued by the Company to settle amounts owed above the principal amount would be approximately 17.0 million shares based on the closing price of Holdings’ common stock on June 30, 2025. Concurrently with its issuance of shares to the convertible noteholders to settle the amount owed above the principal amount on August 15, 2025, the Company expects to receive an equal and offsetting number of shares, or approximately 17.0 million shares based on the closing price of Holdings’ common stock on June 30, 2025, from the hedge counterparties. See “4.50% Convertible Senior Notes”below.
Previous report
The Warrants expire 1/80 th per trading day between November 15, 2025 and March 12, 2026. The Company may settle the Warrants in cash or shares. If the Company elects to settle the Warrants by issuing shares, it would issue approximately 8.8 million shares, based on the closing price of Holdings’ common stock on June 30, 2025. See “4.50% Convertible Senior Notes”below.
Previous report
Together, the Hedge Transactions and the Warrants are intended to reduce the potential dilution from the conversion of the 4.50% Convertible Senior Notes. The Hedge Transactions and Warrants are recorded in equity and are not accounted for as derivatives, in accordance with applicable accounting guidance.
Previous report
The 4.50% Convertible Senior Notes are effectively subordinated to any of Holdings’, or its subsidiaries’, existing and future secured debt to the extent of the value of the assets securing such indebtedness, including obligations under the Credit Agreement. The 4.50% Convertible Senior Notes are structurally subordinated to all existing and future debt and other liabilities of our subsidiaries, including trade payables, and including CUSA’s 5.25% Senior Notes due 2028 and its 7.00% Senior Notes due 2032, or, collectively, CUSA’s senior notes (but excluding all obligations under the Credit Agreement, as defined below, which are guaranteed by Holdings). The 4.50% Convertible Senior Notes rank equally in right of payment with all of Holdings’ existing and future unsubordinated debt, including all obligations under the Credit Agreement, which is guaranteed by Holdings, and senior in right of payment to any future debt that is expressly subordinated in right of payment to the 4.50% Convertible Senior Notes. The 4.50% Convertible Senior Notes are not guaranteed by any of Holdings' subsidiaries.
Reworded paragraphs (66)
Previous wording
Films leading the box office during the six months ended June 30, 2025 included new releases A Minecraft Movie, Lilo & Stitch, Sinners, How to Train Your Dragon, Captain America: Brave New World, Thunderbolts*, Mission: Impossible - The Final Reckoning, and Final Destination: Bloodlines, as well as the carryover of the 2024 release Mufasa: The Lion King.
Current wording
Films leading the box office during the nine months ended September 30, 2025 included new releases A Minecraft Movie, Lilo & Stitch, Superman, Jurassic World: Rebirth, and Sinners.
Previous wording
Although salaries and wages include a fixed cost component (i.e., the minimum staffing costs to operate a theater facility during non-peak periods), salaries and wages tend to move in relation to anticipated changes in attendance. Staffing levels may vary based on the amenities offered at each location, such as full-service restaurants, bars or expanded food and beverage options. In certain international locations, staffing levels are also subject to local regulations, including minimum hour requirements. Labor market conditions and inflationary pressures have driven increases in wage rates across our labor base and similar increases may continue in the future.
Current wording
Although salaries and wages include a fixed cost component (i.e., the minimum staffing costs to operate a theater facility during non-peak periods), salaries and wages tend to move in relation to anticipated changes in attendance. Staffing levels may vary based on the amenities offered at each location, such as full-service restaurants, bars or expanded food and beverage options. In certain international locations, staffing levels are also subject to local regulations, including minimum hour requirements. Labor market conditions and inflationary pressures have driven increases in wage rates and benefits across our labor base and similar increases may continue in the future.
Previous wording
General and administrative expenses to support the overall management of the Company are primarily fixed in nature. Fixed expenses include salaries, wages and benefits costs for our corporate office personnel, facility expenses for our corporate and other offices, software license and maintenance costs and audit fees. General and administrative expenses include some variable expenses such as incentive compensation, consulting and legal fees, supplies, and other costs that are not specifically associated with the operations of our theaters.
Current wording
General and administrative expenses to support the overall management of the Company are primarily fixed in nature. Fixed expenses include salaries, wages and benefits costs for our corporate office personnel, facility expenses for our corporate and other offices, software license and maintenance costs and audit fees. General and administrative expenses also include some variable expenses such as incentive compensation, consulting and legal fees, general supplies, and other costs that are not specifically associated with the operations of our theaters.
Previous wording
Three months ended June 30, 2025 (the “second quarter of 2025”) versus the three months ended June 30, 2024 (the “second quarter of 2024”)
Current wording
Three months ended September 30, 2025 (the “third quarter of 2025”) versus the three months ended September 30, 2024 (the “third quarter of 2024”)
Previous wording
International. Attendance increased slightly to 21.0 million patrons for the second quarter of 2025 compared with 20.9 million patrons for the second quarter of 2024 reflecting a film slate with a comparable level of consumer appeal in our international markets year-over-year. Revenues, average ticket price and concession revenue per patron for our international segment, as reported, were unfavorably impacted by exchange rate fluctuations during the second quarter of 2025. In constant currency, the average ticket price increased 17.3% to $4.40 for the second quarter of 2025 primarily due to strategic and inflationary pricing actions and higher premium format mix. Similarly, in constant currency, concession revenue per patron increased 24.1% to $3.65 for the second quarter of 2025 primarily due to strategic and inflationary pricing actions and a higher mix of merchandise. Other revenue increased 37.7% in constant currency to $30.7 million for the second quarter of 2025 primarily due to inflationary impacts, higher screen advertising and loyalty program revenue, as well as increased transaction fees.
Current wording
International. Attendance decreased 7.9% to 21.0 million patrons for the third quarter of 2025 compared with 22.8 million patrons for the third quarter of 2024 reflecting a film slate that did not resonate as strongly with audiences compared with the third quarter of 2024. Revenues, average ticket price and concession revenue per patron for our international segment, as reported, were unfavorably impacted by exchange rate fluctuations during the third quarter of 2025. In constant currency, average ticket price increased 13.4% to $4.24 for the third quarter of 2025 primarily due to strategic and inflationary pricing actions, partially offset by promotional activities. Similarly, in constant currency, concession revenue per patron increased 11.8% to $3.32 for the third quarter of 2025 primarily due to inflationary pricing actions and country mix, partially offset by promotional activities. Other revenue increased 13.5% in constant currency to $31.2 million for the third quarter of 2025 primarily due to inflationary impacts, higher loyalty program revenue and increased transactional fees.
Previous wording
U.S. Film rentals and advertising costs were 59.4% of admissions revenue for the second quarter of 2025 compared with 57.3% of admissions revenue for the second quarter of 2024 primarily due to a higher concentration of high-grossing films and increased marketing spend. Concession supplies expense for the second quarter of 2025 was 18.5% of concession revenue compared with 18.7% for the second quarter of 2024. The decrease in the concession supplies rate for the second quarter of 2025 was primarily driven by strategic pricing actions and higher rebates, partially offset by a higher mix of merchandise and inflationary pressures.
Current wording
U.S. Film rentals and advertising costs decreased to 58.4% of admissions revenue for the third quarter of 2025 compared with 59.2% of admissions revenue for the third quarter of 2024 primarily due to a lower concentration of high-grossing films, partially offset by increased marketing spend. Concession supplies expense for the third quarter of 2025 was 18.8% of concession revenue compared with 16.5% for the third quarter of 2024. The increase in the concession supplies rate was primarily driven by a higher mix of merchandise, inflationary pressures and lower concession rebates, partially offset by strategic pricing actions and sourcing initiatives.
Previous wording
International. Our international operating costs, as reported, were favorably impacted by exchange rate fluctuations for the second quarter of 2025.
Current wording
International. Our international operating costs, as reported, were favorably impacted by exchange rate fluctuations for the third quarter of 2025.
Previous wording
Film rentals and advertising costs were 51.5% of admissions revenue as reported for the second quarter of 2025 compared with 50.3% for the second quarter of 2024 due to a higher concentration of high-grossing films, the overall mix of films and increased marketing spend. Concession supplies expense was 23.0% of concessions revenue as reported for the second quarter of 2025 compared with 21.8% for the second quarter of 2024. The increase in the concession supplies rate was primarily driven by a higher mix of merchandise.
Current wording
Film rentals and advertising costs increased to 51.8% of admissions revenue as reported for the third quarter of 2025 compared with 50.8% for the third quarter of 2024 due to the overall mix of films and increased marketing spend. Concession supplies expense remained relatively flat at 22.6% of concessions revenue as reported for the third quarter of 2025 compared with 22.5% for the third quarter of 2024.
Previous wording
Salaries and wages, facility lease expense and utilities and other expenses, as reported, for the second quarter of 2025 benefited from favorable exchange rate fluctuations. In constant currency, salaries and wages increased to $20.5 million for the second quarter of 2025 primarily driven by wages and benefits inflation, as well as higher labor hours. Facility lease expense increased 4.2% to $22.4 million in constant currency for the second quarter of 2025 primarily due to inflationary increases. Utilities and other costs increased to $29.9 million in constant currency for the second quarter of 2025 due to inflationary pressures, higher screen advertising related commissions and higher credit card fees.
Current wording
Salaries and wages, facility lease expense and utilities and other expenses, as reported, for the third quarter of 2025 benefited from favorable exchange rate fluctuations. In constant currency, salaries and wages increased slightly to $18.9 million for the third quarter of 2025 primarily driven by wages and benefits inflation, mostly offset by effective labor management. Facility lease expense decreased 1.8% to $22.0 million in constant currency for the third quarter of 2025 primarily due to lower percentage rent, partially offset by inflationary increases. Utilities and other costs increased to $30.8 million in constant currency for the third quarter of 2025 due to inflationary pressures.
Previous wording
General and Administrative Expense. General and administrative expense for Holdings decreased to $54.1 million for the second quarter of 2025 compared with $55.7 million for the second quarter of 2024. General and administrative expense for CUSA decreased to $53.3 million for the second quarter of 2025 compared with $54.7 million for the second quarter of 2024. The decrease for both Holdings and CUSA is primarily due to lower share-based compensation and related payroll taxes, and the favorable impact of exchange rate fluctuations, partially offset by wages and benefits inflation, increased headcount and higher professional fees.
Current wording
General and Administrative Expense. General and administrative expense for Holdings increased to $61.9 million for the third quarter of 2025 compared with $56.4 million for the third quarter of 2024. General and administrative expense for CUSA increased to $61.1 million for the third quarter of 2025 compared with $55.5 million for the third quarter of 2024. The increase for both Holdings and CUSA is primarily due to higher share-based compensation, wages and benefits inflation, increased headcount and higher cloud-based software costs, partially offset by the favorable impact of exchange rate fluctuations.
Previous wording
Depreciation and Amortization. Depreciation and amortization expense was $49.4 million for the second quarter of 2025 compared with $49.8 million for the second quarter of 2024.
Current wording
Depreciation and Amortization. Depreciation and amortization expense was $50.9 million for the third quarter of 2025 compared with $49.1 million for the third quarter of 2024.
Previous wording
Impairment of Long-Lived Assets. We recorded an asset impairment charge of $1.6 million during the second quarter of 2025 related to three international theaters that have not demonstrated sufficient recovery since reopening after the temporary COVID-19 related closures. We did not record any asset impairment charges during the second quarter of 2024.
Current wording
Impairment of Long-Lived Assets. We recorded an asset impairment charge of $0.6 million during the third quarter of 2025 related to one domestic theater and three international theaters that have underperformed relative to the rest of our theater circuit. We did not record any asset impairment charges during the third quarter of 2024.
Previous wording
Loss on Disposal of Assets and Other. A loss on disposal of assets and other of $1.0 million was recorded for the second quarter of 2025 compared with $1.7 million for the second quarter of 2024. Activity for the second quarter of 2025 was primarily related to the retirement of certain assets that were replaced as a result of theater remodels. Activity for the second quarter of 2024 was primarily related to the removal and disposal of equipment at closed theaters.
Current wording
Loss (Gain) on Disposal of Assets and Other. A loss on disposal of assets and other of $3.0 million was recorded for the third quarter of 2025 compared with a gain of $0.1 million for the third quarter of 2024. Activity for the third quarter of 2025 was primarily related to the retirement of certain assets that were replaced as a result of theater remodels.
Previous wording
Interest Expense. Interest expense for Holdings, which includes amortization of debt issuance costs and original issue discount and amortization of accumulated losses for swap amendments, was $39.4 million during the second quarter of 2025 compared with $34.6 million during the second quarter of 2024. The interest expense attributable to CUSA was $33.4 million during the second quarter of 2025 compared with $28.6 million during the second quarter of 2024. The increase in interest expense was primarily due to the impact of the issuance of the 7.00% Senior Notes in July 2024 and the amortization of accumulated losses for amended swap agreements during the second quarter of 2025 versus the amortization of accumulated gains during the second quarter of 2024, partially offset by the redemption of the remaining principal amount of the 8.75% Secured Notes during May 2024, the extinguishment of the 5.875% Senior Notes during July 2024, and the term loan reprice transactions that reduced our margin rate by 50 bps in each of May and November 2024. See further discussion in Liquidity and Capital Resources below.
Current wording
Interest Expense. Interest expense for Holdings, which includes amortization of debt issuance costs and original issue discount and amortization of accumulated losses for swap amendments, was $32.2 million during the third quarter of 2025 compared with $36.7 million during the third quarter of 2024. The interest expense attributable to CUSA was $29.3 million during the third quarter of 2025 compared with $30.6 million during the third quarter of 2024. The decrease in interest expense was primarily due to the payoff of the $460.0 million principal of the 4.50% Convertible Senior Notes on August 15, 2025 and the term loan reprice transactions in November 2024 and June 2025. See further discussion in Liquidity and Capital Resources below.
Previous wording
Interest Income. Interest income for Holdings was $11.2 million during the second quarter of 2025 compared with $12.5 million during the second quarter of 2024. The interest income attributable to CUSA was $11.2 million during the second quarter of 2025 compared with $9.4 million during the second quarter of 2024. The decrease in interest income for Holdings primarily reflects interest earned on a lower average cash and cash equivalents balance at the Cinemark Holdings, Inc. holding company level as a result of cash used in the first quarter of 2025 for the repurchase of common stock through the Company’s share repurchase program, while the increase at CUSA reflects interest earned on a higher average cash and cash equivalents balance. See further discussion of the Company’s share repurchase program in Liquidity and Capital Resources below.
Current wording
Interest Income. Interest income for Holdings was $10.1 million during the third quarter of 2025 compared with $14.2 million during the third quarter of 2024. The interest income attributable to CUSA was $9.9 million during the third quarter of 2025 compared with $11.1 million during the third quarter of 2024. The decrease in interest income primarily reflects lower average cash balances as a result of cash used to repay the $460.0 million principal of the 4.50% Convertible Senior Notes and for the cash settlement of the warrants. See further discussion of the Company’s long-term debt activity in Note 7 to the condensed consolidated financial statements.
Previous wording
Loss on Debt Amendments and Extinguishments. We recorded a loss on amendment and extinguishment of debt of $1.5 million during the 2025 period related to the amendment of our term loan, including the write-off of unamortized debt issuance costs and original issue discount, and legal and other fees paid. We recorded a loss on amendment and extinguishment of debt of $2.5 million during the
Current wording
Loss on Debt Amendments and Extinguishments. We recorded a loss on amendment and extinguishment of debt of $3.0 million during the third quarter of 2024 related to the early extinguishment of the 5.875% Senior Notes. We did not have a loss on amendment and extinguishment of debt during the third quarter of 2025.
Previous wording
Foreign Currency Exchange Loss. We recorded a foreign currency exchange loss of $1.0 million during the second quarter of 2025 compared with $6.3 million during the second quarter of 2024. The loss on foreign exchange is primarily driven by the impact of hyper-inflationary accounting for Argentina, partially offset by currency exchange fluctuations related to US-denominated accounts in certain international countries.
Current wording
Foreign Currency Exchange and Other Related Loss. We recorded a foreign currency exchange loss of $5.2 million during the third quarter of 2025 compared with $3.0 million during the third quarter of 2024. Activity for the third quarter of 2025 and 2024 includes losses of $0.7 million and $0.9 million, respectively, associated with Blue Chip Swap transactions. Excluding the impact of Blue Chip Swap transactions, the loss on foreign exchange is primarily driven by the impact of hyper-inflationary accounting for Argentina, partially offset by currency exchange fluctuations related to US-denominated accounts in certain international countries.
Previous wording
Equity in Income of Affiliates. Equity in income of affiliates of $3.5 million was recorded during the 2025 period compared with $6.3 million during the 2024 period primarily due to lower income from our investment in AC JV, LLC during 2025. See Note 8 to the condensed consolidated financial statements for information about our equity investments.
Current wording
Equity in Income of Affiliates. Equity in income of affiliates of $1.6 million was recorded during the third quarter of 2025 compared with $5.0 million during the third quarter of 2024. Equity in income of affiliates for the third quarter of 2024 reflected higher income earned from our investment in AC JV LLC. See Note 8 to the condensed consolidated financial statements for information about our equity investments.
Previous wording
Net Loss on Investment in NCMI. We recorded a net loss on our investment in NCMI of $4.3 million during the second quarter of 2025 compared with $3.2 million during the second quarter of 2025, primarily related to the mark-to-market adjustment of our investment in NCMI under the fair value basis of accounting. See Note 8 to the condensed consolidated financial statements for information about our investment in NCMI.
Current wording
Net Loss (Gain) on Investment in NCMI. We recorded a net loss on our investment in NCMI of $1.5 million during the third quarter of 2025 compared with a net gain of $11.6 million during the third quarter of 2024, primarily related to the mark-to-market adjustment of our investment in NCMI under the fair value basis of accounting. See Note 8 to the condensed consolidated financial statements for information about our investment in NCMI.
Previous wording
Income Taxes - Holdings. An income tax expense of $42.5 million was recorded for the second quarter of 2025 compared with an income tax benefit of $0.9 million for the second quarter of 2024. The effective tax rate was approximately 31.0% for the second quarter of 2025 compared with (1.8)% for the second quarter of 2024. The effective tax rate for the second quarter of 2025 differs from the U.S. statutory rate primarily due to foreign tax rate differences, the U.S. tax impact of foreign operations, and state and local taxes. The effective tax rate for the second quarter of 2024 was favorably impacted by changes in valuation allowances previously recorded against certain deferred tax assets in certain foreign jurisdictions. Income tax provisions for interim periods are generally 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.
Current wording
Income Taxes - Holdings. An income tax benefit of $22.9 million was recorded for the third quarter of 2025 compared with an income tax benefit of $42.7 million for the third quarter of 2024. The effective tax rate was approximately (82.8)% for the third quarter of 2025 compared with (29.2)% for the third quarter of 2024. The effective tax rate for the third quarter of 2025 was favorably impacted by changes in valuation allowances previously recorded against federal and certain state interest expense carryforwards. The effective tax rate for the third quarter of 2024 was favorably impacted by changes in valuation allowances previously recorded against certain foreign tax credits, other federal deferred tax assets, certain state net operating losses and other state deferred tax assets. Income tax provisions for interim periods are generally 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.
Previous wording
Income Taxes - CUSA. An income tax expense of $43.6 million was recorded for the second quarter of 2025 compared with an income tax benefit of $1.3 million for the second quarter of 2024. The effective tax rate was approximately 30.3% for the second quarter of 2025 compared with (2.8)% for the second quarter of 2024. The effective tax rate for the second quarter of 2025 differs from the U.S. statutory rate primarily due to foreign tax rate differences, U.S. tax impact of foreign operations, and state and local taxes. The effective tax rate for the second quarter of 2024 was favorably impacted by changes in valuation allowances previously recorded against certain deferred tax assets in certain foreign jurisdictions. Income tax provisions for interim periods are generally 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.
Current wording
Income Taxes - CUSA. An income tax expense of $23.8 million was recorded for the third quarter of 2025 compared with an income tax benefit of $39.7 million for the third quarter of 2024. The effective tax rate was approximately 27.8% for the third quarter of 2025 compared with (26.4)% for the third quarter of 2024. The effective tax rate for the third quarter of 2025 differs from the U.S. statutory rate primarily due to foreign tax rate differences, U.S. tax impact of foreign operations, and state and local taxes. The effective tax rate for the third quarter of 2024 was favorably impacted by changes in valuation allowances previously recorded against certain foreign tax credits, other federal deferred tax assets, certain state net operating losses and other state deferred tax assets. Income tax provisions for interim periods are generally 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.
Previous wording
Six months ended June 30, 2025 (the “2025 period”) versus the six months ended June 30, 2024 (the “2024 period”)
Current wording
Nine months ended September 30, 2025 (the “2025 period”) versus the nine months ended September 30, 2024 (the “2024 period”)
Previous wording
Second quarter of 2025 -The North American Industry box office generated approximately $2.7 billion during the second quarter of 2025, which included new releases A Minecraft Movie, Lilo & Stitch, Sinners, How to Train Your Dragon, Thunderbolts*, Mission: Impossible - The Final Reckoningand Final Destination: Bloodlines.
Current wording
2025 Period - The North American Industry box office generated approximately $6.7 billion during the 2025 period, which included new releases A Minecraft Movie, Lilo & Stitch, Superman, Jurassic World: Rebirth, and Sinners.
Previous wording
U.S. Attendance increased 9.1% to 57.5 million patrons during the 2025 period compared with 52.7 million patrons during the 2024 period primarily driven by a film slate with a stronger consumer appeal and the enhanced scale of content released during the 2025 period. Average ticket price increased 4.4% to $10.28 during the 2025 period compared with $9.85 during the 2024 period driven by strategic pricing initiatives. Concession revenue per patron increased 5.5% to $8.21 during the 2025 period compared with $7.78 during the 2024 period primarily driven by strategic pricing actions, a higher mix of merchandise and increased incidence rates. Other revenue for the 2025 period increased 13.6% to $113.4 million compared with $99.8 million during the 2024 period primarily due to higher attendance, which resulted in an increase in the variable components of other revenue, such as higher transaction fees and promotional income, as well as higher gaming revenue.
Current wording
U.S. Attendance increased to 90.7 million patrons during the 2025 period compared with 90.3 million patrons during the 2024 period primarily driven by a film slate with a comparable level of consumer appeal year-over-year. Average ticket price increased 4.6% to $10.36 during the 2025 period compared with $9.90 during the 2024 period driven by strategic pricing initiatives. Concession revenue per patron increased 4.5% to $8.21 during the 2025 period compared with $7.86 during the 2024 period primarily driven by strategic pricing actions, a higher mix of merchandise and increased incidence rates. Other revenue for the 2025 period increased 5.8% to $176.1 million compared with $166.4 million during the 2024 period primarily due to higher transactional fees, promotional income and gaming revenue.
Previous wording
International. Attendance of 37.0 million patrons for the 2025 period was flat compared with the 2024 period reflecting a film slate with a comparable level of consumer appeal in our international markets year-over-year. Revenues, average ticket price and concession revenue per patron for our international segment, as reported, were unfavorably impacted by exchange rate fluctuations during the 2025 period. In constant currency, the average ticket price increased 15.2% to $4.25 for the 2025 period primarily due to inflationary pricing actions. Similarly, in constant currency, concession revenue per patron increased 20.4% to $3.48 for the 2025 period primarily due to inflationary pricing actions and a higher mix of merchandise. Other revenue increased 35.0% in constant currency to $55.2 million for the 2025 period primarily due to inflationary impacts, higher screen advertising and loyalty program revenue, as well as increased transaction fees.
Current wording
International. Attendance decreased to 58.0 million patrons for the 2025 period from 59.8 million during the 2024 period reflecting a film slate that did not resonate as strongly with audiences in our international markets year-over-year. Revenues, average ticket price and concession revenue per patron for our international segment, as reported, were unfavorably impacted by exchange rate fluctuations during the 2025 period. In constant currency, the average ticket price increased 14.6% to $4.25 for the 2025 period primarily due to inflationary pricing actions. Similarly, in constant currency, concession revenue per patron increased 17.5% to $3.43 for the 2025 period primarily due to inflationary pricing actions and a higher mix of merchandise. Other revenue increased 26.3% in constant currency to $86.4 million for the 2025 period primarily due to inflationary impacts, higher screen advertising and loyalty program revenue, and increased transactional fees.
Previous wording
U.S. Film rentals and advertising costs were 57.7% of admissions revenue for the 2025 period compared with 56.0% of admissions revenue for the 2024 period primarily due to the higher concentration of high-grossing films and increased marketing spend. Concession supplies expense for the 2025 period was 19.2% of concession revenue compared with 18.9% for the 2024 period. The concession supplies rate for the 2025 period was primarily impacted by a higher mix of merchandise and inflationary pressures, partially offset by strategic pricing actions.
Current wording
U.S. Film rentals and advertising costs increased to 57.9% of admissions revenue for the 2025 period compared with 57.4% of admissions revenue for the 2024 period primarily due to increased marketing spend. Concession supplies expense for the 2025 period was 19.1% of concession revenue compared with 17.9% for the 2024 period. The concession supplies rate for the 2025 period was primarily impacted by a higher mix of merchandise, inflationary pressures and lower concession rebates, partially offset by strategic pricing actions and sourcing initiatives.
Previous wording
Salaries and wages increased 8.0% to $165.5 million for the 2025 period compared with $153.3 million for the 2024 period due to higher attendance, expanded operating hours, and wages and benefits inflation, partially offset by labor productivity initiatives. Facility lease expense, which is predominantly fixed in nature, increased 1.6% to $122.4 million primarily due to higher percentage rent. Utilities and other costs increased 13.3% to $179.5 million, largely driven by the increase in attendance, as many of these costs are variable or semi-variable in nature, primarily credit card fees and repairs and maintenance. An increase in real estate taxes and property and liability insurance also contributed to the increase.
Current wording
Salaries and wages increased 4.0% to $254.2 million for the 2025 period compared with $244.4 million for the 2024 period due to wages and benefits inflation, partially offset by labor productivity initiatives. Facility lease expense of $183.4 million was relatively flat compared with the 2024 period. Utilities and other costs increased 8.9% to $278.5 million, primarily driven by increases in credit card fees, real estate taxes, property and liability insurance, repairs and maintenance costs, and utilities.
Previous wording
Film rentals and advertising costs were 50.9% of admissions revenue as reported for the 2025 period compared with 49.4% for the 2024 period due to the higher concentration of high-grossing films and increased marketing spend. Concession supplies expense was 22.9% of concessions revenue as reported for the 2025 period compared with 21.6% for the 2024 period. The increase in the concession supplies rate was primarily driven by inflationary pressures and a higher mix of merchandise.
Current wording
Film rentals and advertising costs increased to 51.2% of admissions revenue as reported for the 2025 period compared with 50.0% for the 2024 period due to the increased concentration of high-grossing films and increased marketing spend. Concession supplies expense was 22.8% of concessions revenue as reported for the 2025 period compared with 21.9% for the 2024 period. The increase in the concession supplies rate was primarily driven by inflationary pressures and a higher mix of merchandise.
Previous wording
Salaries and wages, facility lease expense and utilities and other expenses, as reported, for the 2025 period benefited from favorable exchange rate fluctuations. In constant currency, salaries and wages increased to $38.4 million for the 2025 period primarily driven by wages and benefits inflation, as well as higher labor hours. Facility lease expense increased to $42.6 million in constant currency for the 2025 period primarily due to inflationary increases and the dissipation of temporary rent abatements that benefited the 2024 period. Utilities and other costs increased to $57.2 million in constant currency for the 2025 period due to inflationary pressures, higher screen advertising related commissions and an increase in credit card fees.
Current wording
Salaries and wages, facility lease expense and utilities and other expenses, as reported, for the 2025 period benefited from favorable exchange rate fluctuations. In constant currency, salaries and wages increased to $57.3 million for the 2025 period primarily driven by wages and benefits inflation, partially offset by effective labor management. Facility lease expense increased to $64.6 million in constant currency for the 2025 period primarily due to inflationary increases and the dissipation of temporary rent abatements that benefited the 2024 period. Utilities and other costs increased to $88.0 million in constant currency for the 2025 period due to inflationary pressures and higher screen advertising related commissions.
Previous wording
General and Administrative Expense. General and administrative expense for Holdings increased to $108.6 million for the 2025 period compared with $104.6 million for the 2024 period. General and administrative expense for CUSA increased to $106.8 million for the 2025 period compared with $102.7 million for the 2024 period. The increase for both Holdings and CUSA is primarily due to wages and benefits inflation and higher professional fees, partially offset by the favorable impact of exchange rate fluctuations.
Current wording
General and Administrative Expense. General and administrative expense for Holdings increased to $170.5 million for the 2025 period compared with $161.0 million for the 2024 period. General and administrative expense for CUSA increased to $167.9 million for the 2025 period compared with $158.2 million for the 2024 period. The increase for both Holdings and CUSA is primarily due to higher share-based compensation, wages and benefits inflation, increased headcount, and higher professional fees and cloud-based software costs, partially offset by the favorable impact of exchange rate fluctuations.
Previous wording
Depreciation and Amortization. Depreciation and amortization expense decreased to $98.9 million for the 2025 period compared with $99.2 million for the 2024 period.
Current wording
Depreciation and Amortization. Depreciation and amortization expense increased to $149.8 million for the 2025 period compared with $148.3 million for the 2024 period.
Previous wording
Impairment of Long-Lived Assets. We recorded an asset impairment charge of $1.6 million during the 2025 period related to three international theaters that have not demonstrated sufficient recovery since reopening after the temporary COVID-19 related closures. We did not record any asset impairment charges during the 2024 period.
Current wording
Impairment of Long-Lived Assets. We recorded an asset impairment charge of $2.2 million during the 2025 period related to one domestic theater and five international theaters that have underperformed relative to the rest of our theater circuit. We did not record any asset impairment charges during the 2024 period.
Previous wording
(Gain) Loss on Disposal of Assets and Other. A gain on disposal of assets and other of $3.1 million was recorded for the 2025 period compared with a loss of $2.1 million for the 2024 period. Activity for the 2025 period was primarily related to gains on the sale of a land parcel and one of our owned theater properties, partially offset by the retirement of certain assets replaced as a result of remodels. Activity for the 2024 period was primarily related to the removal and disposal of equipment at closed theaters.
Current wording
(Gain) Loss on Disposal of Assets and Other. A gain on disposal of assets and other of $0.1 million was recorded for the 2025 period compared with a loss of $2.0 million for the 2024 period. Activity for the 2025 period was primarily related to gains on the sale of real estate, offset by the retirement of certain assets replaced as a result of remodels. Activity for the 2024 period was primarily related to the removal and disposal of equipment at closed theaters.
Previous wording
Interest Expense. Interest expense for Holdings, which includes amortization of debt issuance costs and original issue discount and amortization of accumulated losses for swap amendments, was $77.9 million during the 2025 period compared with $72.3 million during the 2024 period. The interest expense attributable to CUSA was $65.8 million during the 2025 period compared with $60.2 million during the 2024 period. The increase in interest expense was primarily due to the impact of the issuance of the 7.00% Senior Notes in July 2024 and the amortization of accumulated losses for amended swap agreements during the 2025 period versus the amortization of accumulated gains during the 2024 period, partially offset by the redemption of the remaining principal amount of the 8.75% Secured Notes during May 2024, the extinguishment of the 5.875% Senior Notes during July 2024, and the term loan reprice transactions that reduced our margin rate by 50 bps in each of May and November 2024. See further discussion in Liquidity and Capital Resources below.
Current wording
Interest Expense. Interest expense for Holdings, which includes amortization of debt issuance costs and original issue discount and amortization of accumulated losses for swap amendments, was $110.1 million during the 2025 period compared with $109.0 million during the 2024 period. The interest expense attributable to CUSA was $95.1 million during the 2025 period compared with $90.8 million during the 2024 period. The increase in interest expense was primarily due to the impact of the issuance of the 7.00% Senior Notes in July 2024, partially offset by the redemption of the remaining principal amount of the 8.75% Secured Notes during May 2024, the extinguishment of the 5.875% Senior Notes during July 2024, the term loan reprice transactions in May 2024, November 2024, and June 2025, and the payoff of the $460.0 million principal of the 4.50% Convertible Senior Notes on August 15, 2025. See further discussion in Liquidity and Capital Resources below.
Previous wording
Interest Income. Interest income for Holdings was $23.2 million during the 2025 period compared with $26.1 million during the 2024 period. The interest income attributable to CUSA was $20.9 million during the 2025 period compared with $19.7 million during the 2024 period. The decrease in interest income for Holdings primarily reflects interest earned on a lower average cash and cash equivalents balance at the Cinemark Holdings, Inc. holding company level as a result of cash used in the first quarter of 2025 for the repurchase of common stock through the Company’s share repurchase program. See further discussion of the Company’s share repurchase program in Liquidity and Capital Resources below.
Current wording
Interest Income. Interest income for Holdings was $33.3 million during the 2025 period compared with $40.3 million during the 2024 period. The interest income attributable to CUSA was $30.8 million during both the 2025 and 2024 periods. The decrease in interest income for Holdings primarily reflects lower average cash balances as a result of cash used to repay the $460.0 million principal of the 4.50% Convertible Senior Notes and for the cash settlement of the warrants in the third quarter of 2025, as well as cash used for the repurchase of common stock through the Company’s share repurchase program in the first quarter of 2025. See further discussion of the Company’s share repurchase program in Liquidity and Capital Resources below.
Previous wording
Loss on Debt Amendments and Extinguishments. We recorded a loss on amendment and extinguishment of debt of $1.5 million during the second quarter of 2025 related to the amendment of our term loan, including the write-off of unamortized debt issuance costs and original issue discount, and legal and other fees paid. We recorded a loss on amendment and extinguishment of debt of $2.5 million during the second quarter of 2024 related to the amendment of our term loan and the redemption of the remaining 8.75% Secured Notes, including the write-off of unamortized debt issuance costs and original issue discount, and legal and other fees paid. See Note 7 to the condensed consolidated financial statements for information about our loss on debt amendments and extinguishments.
Current wording
Loss on Debt Amendments and Extinguishments. We recorded a loss on amendment and extinguishment of debt of $1.5 million during the 2025 period related to the amendment of our term loan, including the write-off of unamortized debt issuance costs and original issue discount, and legal and other fees paid. We recorded a loss on amendment and extinguishment of debt of $5.5 million during the 2024 period related to the amendment of our term loan and the redemption of the remaining 8.75% Secured Notes, and the extinguishment of the 5.875% Senior Notes, including the write-off of unamortized debt issuance costs and original issue discount, and legal and other fees paid. See Note 7 to the condensed consolidated financial statements for information about our loss on debt amendments and extinguishments.
Previous wording
Foreign Currency Exchange Loss. We recorded a foreign currency exchange loss of $0.5 million during the 2025 period compared with $4.9 million during the 2024 period. The loss on foreign exchange is primarily driven by the impact of hyper-inflationary accounting for Argentina, partially offset by currency exchange fluctuations related to US-denominated accounts in certain international countries.
Current wording
Foreign Currency Exchange and Other Related Loss. We recorded a foreign currency exchange loss of $5.7 million during the 2025 period compared with $7.9 million during the 2024 period. Activity for the 2025 and 2024 periods includes losses of $0.7 million and $0.9 million, respectively, associated with Blue Chip Swap transactions. Excluding the impact of Blue Chip Swap transactions, the loss on foreign exchange is primarily driven by the impact of hyper-inflationary accounting for Argentina, partially offset by currency exchange fluctuations related to US-denominated accounts in certain international countries.
Previous wording
Distributions from NCMI/NCM. We recorded distributions received from NCMI and NCM of $1.4 million during the 2025 period primarily related to a tax receivable agreement with NCM.
Current wording
Distributions from NCMI/NCM. We recorded distributions received from NCMI and NCM of $1.6 million during the 2025 period primarily related to a tax receivable agreement with NCM.
Previous wording
Equity in Income of Affiliates. Equity in income of affiliates of $2.6 million was recorded during the second quarter of 2025 compared with $2.5 million during the second quarter of 2024. See Note 8 to the condensed consolidated financial statements for information about our equity investments.
Current wording
Equity in Income of Affiliates. Equity in income of affiliates of $5.1 million was recorded during the 2025 period compared with $11.3 million during the 2024 period. See Note 8 to the condensed consolidated financial statements for information about our equity investments.
Previous wording
Net (Loss) Gain on Investment in NCMI. We recorded a net loss on our investment in NCMI of $7.9 million during the 2025 period compared with a net gain of $1.2 million during the 2024 period, primarily related to the mark-to-market adjustment of our investment in NCMI under the fair value basis of accounting. See Note 8 to the condensed consolidated financial statements for information about our investment in NCMI.
Current wording
Net (Loss) Gain on Investment in NCMI. We recorded a net loss on our investment in NCMI of $9.4 million during the 2025 period compared with a net gain of $12.8 million during the 2024 period, primarily related to the mark-to-market adjustment of our investment in NCMI under the fair value basis of accounting. See Note 8 to the condensed consolidated financial statements for information about our investment in NCMI.
Showing the first 40 of 66 pairs. Open the source sections for the rest.
Rearranged current paragraphs (2)
Current report — wording carried from elsewhere
On October 30, 2025, Holdings’ Board of Directors approved a share repurchase program. Under the share repurchase program, Holdings is authorized to repurchase up to $300 million of its outstanding stock, before direct costs associated with the share repurchases.
Current report — wording carried from elsewhere
On May 15, 2025, as required by the indenture to the 4.50% Convertible Senior Notes, the Company provided irrevocable notice to the holders of the 4.50% Convertible Senior Notes of its election to settle all conversion obligations with respect to any 4.50%
Rearranged previous paragraphs (3)
Previous report — wording carried elsewhere
The One Big Beautiful Bill Act ("OBBBA") was signed into law on July 4, 2025. The OBBBA makes permanent certain expiring provisions of the Tax Cuts and Jobs Act and restores favorable tax treatment for certain business provisions including 100% bonus depreciation and the business interest expense limitation. The Company assesses the likelihood that it will be able to recover its deferred tax assets against future sources of taxable income and reduces the carrying amounts of deferred tax assets by recording a valuation allowance if, based on all available evidence, the Company believes it is more likely than not that all or a portion of such assets will not be realized. There is a possibility that the changes in tax law within the OBBBA will result in sufficient positive evidence to reach a conclusion that a portion of the valuation allowance in the U.S. will no longer be required. The Company is currently assessing the impact of the OBBBA on its consolidated financial statements.
Previous report — wording carried elsewhere
Distributions from NCMI/NCM. We recorded distributions received from NCMI and NCM of $1.4 million during the second quarter of 2025 primarily related to a tax receivable agreement with NCM.
Previous report — wording carried elsewhere
2024 period related to the amendment of our term loan and the redemption of the remaining 8.75% Secured Notes, including the write-off of unamortized debt issuance costs and original issue discount, and legal and other fees paid. See Note 7 to the condensed consolidated financial statements for information about our loss on debt amendments and extinguishments.