AMC ENTERTAINMENT HOLDINGS INC
For the period ended Sep 30, 2024. Filed Nov 6, 2024.
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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, 2024 · Filed Nov 6, 2024
AMC$3.46+1.8%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows
| | | | | | | |
|---|---|---|---|---|---|---|
| | | | | | | |
| · · Nine Months Ended | ||||||
| (In millions) · · September 30, 2024 · · September 30, 2023 | ||||||
| Cash flows from operating activities: · · (unaudited) | ||||||
| Net loss | | $(217.0) | | $(214.6) | ||
| Adjustments to reconcile net loss to net cash used in operating activities: | | | | | | |
| Depreciation and amortization | | | 241.2 | | | 279.1 |
| Gain on extinguishment of debt | | | (40.3) | | | (97.5) |
| Gain on derivative liability | | | (73.5) | | | — |
| Deferred income taxes | | | 1.1 | | | 0.8 |
| Unrealized loss on investments in Hycroft | | | 1.7 | | | 10.8 |
| Amortization of net premium on corporate borrowings to interest expense | | | (20.1) | | | (42.7) |
| Amortization of deferred financing costs to interest expense | | | 6.7 | | | 7.1 |
| Non-cash portion of stock-based compensation | | | 15.1 | | | 40.9 |
| Gain on disposition of Saudi Cinema Company | | | — | | | (15.5) |
| Equity in (earnings) from non-consolidated entities, net of distributions | | | (3.3) | | | (0.9) |
| Landlord contributions | | | 26.0 | | | 16.0 |
| Deferred rent | | | (82.1) | | | (124.7) |
| Net periodic benefit cost | | | 1.5 | | | 1.3 |
| Non-cash shareholder litigation expense | | | — | | | 99.3 |
| Change in assets and liabilities: | | | | | | |
| Receivables | | | 98.6 | | | 22.3 |
| Other assets | | | (12.8) | | | (12.9) |
| Accounts payable | | | (82.6) | | | (70.5) |
| Accrued expenses and other liabilities | | | (91.0) | | | (29.9) |
| Other, net | | | (23.6) | | | (5.8) |
| Net cash used in operating activities | | | (254.4) | | | (137.4) |
| Cash flows from investing activities: | | | | | | |
| Capital expenditures | | | (155.8) | | | (153.5) |
| Acquisition of theatre assets | | | — | | | (4.0) |
| Proceeds from disposition of Saudi Cinema Company | | | — | | | 30.0 |
| Proceeds from disposition of long-term assets | | | 0.3 | | | 8.6 |
| Other, net | | | 1.5 | | | 2.5 |
| Net cash used in investing activities | | | (154.0) | | | (116.4) |
| Cash flows from financing activities: | | | | | | |
| Repurchase of Senior Subordinated Notes due 2025 | | | (12.9) | | | — |
| Repurchase of Senior Subordinated Notes due 2026 | | | (6.0) | | | (1.7) |
| Repurchase of Second Lien Notes due 2026 | | | (83.2) | | | (99.8) |
| Scheduled principal payments under Term Loan borrowings | | | (15.1) | | | (15.0) |
| Principal payments under Term Loan due 2026 | | | (27.0) | | | — |
| Proceeds from issuance of Term Loan due 2029 | | | 27.0 | | | — |
| Net proceeds from equity issuances | | | 243.0 | | | 492.4 |
| Principal payments under finance lease obligations | | | (3.5) | | | (4.6) |
| Cash used to pay for deferred financing costs | | | (45.7) | | | (1.8) |
| Debt extinguishment costs | | | (2.3) | | | — |
| Taxes paid for restricted unit withholdings | | | (2.2) | | | (14.2) |
| Net cash provided by financing activities | | | 72.1 | | | 355.3 |
| Effect of exchange rate changes on cash and cash equivalents and restricted cash | | | 2.0 | | | (3.8) |
| Net increase (decrease) in cash and cash equivalents and restricted cash | | | (334.3) | | | 97.7 |
| Cash and cash equivalents and restricted cash at beginning of period | | | 911.4 | | | 654.4 |
| Cash and cash equivalents and restricted cash at end of period | | $577.1 | | $752.1 | ||
| SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION: | | | | | | |
| Cash paid during the period for: | | | | | | |
|---|---|---|---|---|---|---|
| Interest | | $298.4 | | $290.0 | ||
| Income taxes (received) paid, net | | $(0.1) | | $2.8 | ||
| Schedule of non-cash activities: | | | | | | |
| Construction payables at period end | | $41.8 | | $30.5 | ||
| Other third-party equity issuance costs payable | | $— | | $0.4 | ||
| Deferred financing costs payable | | $0.4 | | $— | ||
| Extinguishment of Second Lien Notes due 2026 in exchange for share issuance (1) | | $227.6 | | $118.6 | ||
| Extinguishment of the 2025 Notes in exchange for share issuance (1) | | $2.1 | | $— | ||
| Extinguishment of the 2026 Notes in exchange for share issuance (1) | | $2.4 | | $— | ||
| Extinguishment of Second Lien Notes due 2026 in exchange for Term Loans due 2029 (1) | | $2.3 | | $— | ||
| Extinguishment of principal amount of the Second Lien Notes in exchange for Term Loan due 2029 (1) | | $104.2 | | $— | ||
| Extinguishment of principal amount of the Second Lien Notes in exchange for Exchangeable Notes due 2030 (1) | | $414.4 | | $— |
| (1) | See Note 1—Basis of Presentation and Note 6—Corporate Borrowings and Finance Lease Liabilities for further information on debt extinguishments and the Refinancing Transactions. |
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