v3.24.2.u1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities:    
Net loss $ (196.3) $ (226.9)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 160.4 190.4
Gain on extinguishment of debt (91.1) (86.7)
Deferred income taxes 0.7 0.4
Unrealized loss on investments in Hycroft 0.3 10.1
Amortization of net premium on corporate borrowings to interest expense (21.2) (29.2)
Amortization of deferred financing costs to interest expense 4.5 4.7
Non-cash portion of stock-based compensation 8.8 33.7
Gain on disposition of Saudi Cinema Company   (15.5)
Equity in (earnings) loss from non-consolidated entities, net of distributions (1.2) 0.1
Landlord contributions 15.6 8.3
Other non-cash rent benefit (22.4) (18.6)
Deferred rent (33.8) (70.4)
Net periodic benefit cost 1.1 0.8
Shareholder litigation expense   115.4
Change in assets and liabilities:    
Receivables 41.2 33.4
Other assets (12.7) (29.8)
Accounts payable (8.6) (25.5)
Accrued expenses and other liabilities (65.7) (76.5)
Other, net (2.5) (21.5)
Net cash used in operating activities (222.9) (203.3)
Cash flows from investing activities:    
Capital expenditures (95.1) (96.0)
Proceeds from disposition of Saudi Cinema Company   30.0
Proceeds from disposition of long-term assets 0.2 6.0
Other, net 1.4 2.6
Net cash used in investing activities (93.5) (57.4)
Cash flows from financing activities:    
Scheduled principal payments under Term Loan due 2026 (10.0) (10.0)
Net proceeds from equity issuances 243.0 175.7
Principal payments under finance lease obligations (2.4) (3.1)
Cash used to pay for deferred financing costs (1.1) (1.9)
Taxes paid for restricted unit withholdings (2.2) (14.2)
Net cash provided by financing activities 227.3 62.4
Effect of exchange rate changes on cash and cash equivalents and restricted cash (3.7) 2.1
Net decrease in cash and cash equivalents and restricted cash (92.8) (196.2)
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 818.6 458.2
Cash paid during the period for:    
Interest 192.4 212.0
Income taxes paid, net 1.6 1.8
Schedule of non-cash activities:    
Construction payables at period end 34.8 29.0
Other third-party equity issuance costs payable   0.2
Deferred financing costs payable 3.4  
Extinguishment of Second Lien Notes due 2026 in exchange for share issuance 214.3 118.6
Second Lien Notes due 2026    
Adjustments to reconcile net loss to net cash used in operating activities:    
Gain on extinguishment of debt $ (91.1) (84.4)
Cash flows from financing activities:    
Repurchase of Senior Subordinated Notes due 2026   (82.4)
Senior Subordinated Notes due 2026    
Adjustments to reconcile net loss to net cash used in operating activities:    
Gain on extinguishment of debt   (2.3)
Cash flows from financing activities:    
Repurchase of Senior Subordinated Notes due 2026   $ (1.7)

Source

10-Q PDF
XBRL