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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities:    
Net loss $ (163.5) $ (235.5)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 81.6 93.6
Gain on extinguishment of debt (5.8) (65.1)
Deferred income taxes 0.5 0.6
Unrealized loss on investments in Hycroft 1.0 4.6
Amortization of net premium on corporate borrowings to interest expense (11.2) (15.2)
Amortization of deferred financing costs to interest expense 2.5 2.3
Non-cash portion of stock-based compensation 4.3 25.9
Gain on disposition of Saudi Cinema Company   (15.5)
Equity in earnings from non-consolidated entities, net of distributions (2.4) (1.1)
Landlord contributions 4.6 6.4
Other non-cash rent benefit (11.7) (9.6)
Deferred rent (16.4) (38.6)
Net periodic benefit cost 0.7 0.4
Non-cash shareholder litigation expense   116.6
Change in assets and liabilities:    
Receivables 58.8 67.0
Other assets (23.7) (28.5)
Accounts payable (48.1) (65.2)
Accrued expenses and other liabilities (62.5) (21.0)
Other, net 3.0 (12.0)
Net cash used in operating activities (188.3) (189.9)
Cash flows from investing activities:    
Capital expenditures (50.5) (47.4)
Proceeds from disposition of Saudi Cinema Company   30.0
Proceeds from disposition of long-term assets   0.8
Other, net 0.5  
Net cash used in investing activities (50.0) (16.6)
Cash flows from financing activities:    
Scheduled principal payments under Term Loan due 2026 (5.0) (5.0)
Net (disbursements) proceeds from equity issuances (0.5) 146.6
Principal payments under finance lease obligations (1.2) (1.6)
Cash used to pay for deferred financing costs (0.1) (1.5)
Taxes paid for restricted unit withholdings (2.2) (13.1)
Net cash (used in) provided by financing activities (9.0) 68.9
Effect of exchange rate changes on cash and cash equivalents and restricted cash (3.4) 1.9
Net decrease in cash and cash equivalents and restricted cash (250.7) (135.7)
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 660.7 518.7
Cash paid during the period for:    
Interest 77.8 77.3
Income taxes paid, net 0.2 2.1
Schedule of non-cash activities:    
Construction payables at period end 23.8 26.8
Other third-party equity issuance costs payable 0.1 3.8
Extinguishment of Second Lien Notes due 2026 in exchange for share issuance $ 19.9 118.6
Second Lien Notes due 2026    
Cash flows from financing activities:    
Repurchase of Senior Subordinated Notes due 2026   (54.8)
Senior Subordinated Notes due 2026    
Cash flows from financing activities:    
Repurchase of Senior Subordinated Notes due 2026   $ (1.7)

Source

10-Q PDF
XBRL