v3.24.3
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Revenues        
Total revenues $ 1,348.8 $ 1,405.9 $ 3,330.8 $ 3,708.2
Operating costs and expenses        
Operating expense, excluding depreciation and amortization below 454.6 449.8 1,237.9 1,245.0
Rent 216.4 224.3 659.3 650.8
General and administrative:        
Merger, acquisition and other costs 0.1 0.7 0.1 1.5
Other, excluding depreciation and amortization below 54.0 54.4 160.7 184.8
Depreciation and amortization 80.8 88.7 241.2 279.1
Operating costs and expenses 1,277.0 1,306.5 3,414.8 3,632.2
Operating income (loss) 71.8 99.4 (84.0) 76.0
Other expense, net        
Other income (22.8) (15.9) (173.8) (10.0)
Interest expense:        
Corporate borrowings 109.6 93.4 289.8 276.1
Finance lease obligations 1.0 0.9 2.5 2.8
Non-cash NCM exhibitor services agreement 9.0 9.4 27.5 28.5
Investment income (3.2) (3.0) (14.4) (11.4)
Total other expense, net 93.6 84.8 131.6 286.0
Earnings (loss) before income taxes (21.8) 14.6 (215.6) (210.0)
Income tax provision (benefit) (1.1) 2.3 1.4 4.6
Net earnings (loss) $ (20.7) $ 12.3 $ (217.0) $ (214.6)
Net earnings (loss) per share:        
Basic earnings (loss) per common share $ (0.06) $ 0.08 $ (0.69) $ (1.43)
Diluted earnings (loss) per common share $ (0.06) $ 0.08 $ (0.69) $ (1.43)
Average shares outstanding:        
Basic (Shares in thousands) 361,853 162,424 315,783 150,465
Diluted (Shares in thousands) 361,853 162,607 315,783 150,465
Admissions        
Revenues        
Total revenues $ 744.2 $ 797.7 $ 1,839.1 $ 2,075.9
Operating costs and expenses        
Operating costs and expenses 381.4 398.5 893.0 1,027.8
Food and beverage        
Revenues        
Total revenues 490.4 482.7 1,178.7 1,299.6
Operating costs and expenses        
Operating costs and expenses 89.7 90.1 222.6 243.2
Other theatre        
Revenues        
Total revenues $ 114.2 $ 125.5 $ 313.0 $ 332.7

Source