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Equity (Tables)
 9 Months Ended
Sep. 30, 2021
Equity [Abstract]  
Summary of Changes in Stockholders' Equity

Below is a summary of changes in stockholders’ equity attributable to Cinemark Holdings, Inc., noncontrolling interests and total equity for the three and nine months ended September 30, 2021 and 2020:

 

 

 

  Common Stock

 

  Treasury Stock

 

  Additional Paid-In-Capital

 

  Retained Earnings (Deficit)

 

 Accumulated Other Comprehensive Loss

 

Total Cinemark Holdings, Inc. Stockholders’ Equity

 

  Noncontrolling Interests

 

  Total Equity

 

Balance at January 1, 2021

 

$

124

 

$

(87,004

)

$

1,245,569

 

$

27,937

 

$

(398,653

)

$

787,973

 

$

10,996

 

$

798,969

 

Impact of adoption of ASU 2020-06, net of deferred taxes of $23,756 (See Note 7)

 

 

—

 

 

—

 

 

(73,604

)

 

5,440

 

 

—

 

 

(68,164

)

 

—

 

 

(68,164

)

Issuance of share based awards and share based awards compensation expense

 

 

—

 

 

—

 

 

4,668

 

 

—

 

 

—

 

 

4,668

 

 

—

 

 

4,668

 

Stock withholdings related to share based awards that vested during the three months ended March 31, 2021

 

 

—

 

 

(8

)

 

—

 

 

—

 

 

—

 

 

(8

)

 

—

 

 

(8

)

Adjustment to accrued dividends on unvested restricted stock unit awards

 

 

—

 

 

—

 

 

—

 

 

(2

)

 

—

 

 

(2

)

 

—

 

 

(2

)

Net loss

 

 

—

 

 

—

 

 

—

 

 

(208,241

)

 

—

 

 

(208,241

)

 

(602

)

 

(208,843

)

Unrealized gain due to fair value adjustments on interest rate swap agreements, net of taxes, net of settlements

 

 

—

 

 

—

 

 

—

 

 

—

 

 

5,704

 

 

5,704

 

 

—

 

 

5,704

 

Amortization of accumulated losses for amended swap agreements

 

 

—

 

 

—

 

 

—

 

 

—

 

 

1,124

 

 

1,124

 

 

—

 

 

1,124

 

Foreign currency translation adjustments

 

 

—

 

 

—

 

 

—

 

 

—

 

 

(9,465

)

 

(9,465

)

 

—

 

 

(9,465

)

Balance at March 31, 2021

 

 

124

 

 

(87,012

)

 

1,176,633

 

 

(174,866

)

 

(401,290

)

 

513,589

 

 

10,394

 

 

523,983

 

Issuance of share based awards and share based awards compensation expense

 

 

1

 

 

—

 

 

5,907

 

 

—

 

 

—

 

 

5,908

 

 

—

 

 

5,908

 

Stock withholdings related to share based awards that vested during the three months ended June 30, 2021

 

 

—

 

 

(4

)

 

—

 

 

—

 

 

—

 

 

(4

)

 

—

 

 

(4

)

Adjustment to accrued dividends on unvested restricted stock unit awards related to forfeitures

 

 

—

 

 

—

 

 

—

 

 

4

 

 

—

 

 

4

 

 

—

 

 

4

 

Net loss

 

 

—

 

 

—

 

 

—

 

 

(142,467

)

 

—

 

 

(142,467

)

 

186

 

 

(142,281

)

Unrealized gain due to fair value adjustments on interest rate swap agreements, net of taxes, net of settlements

 

 

—

 

 

—

 

 

—

 

 

—

 

 

746

 

 

746

 

 

—

 

 

746

 

Amortization of accumulated losses for amended swap agreements

 

 

—

 

 

—

 

 

—

 

 

—

 

 

1,123

 

 

1,123

 

 

—

 

 

1,123

 

Foreign currency translation adjustments

 

 

—

 

 

—

 

 

—

 

 

—

 

 

8,259

 

 

8,259

 

 

—

 

 

8,259

 

Balance at June 30, 2021

 

 

125

 

 

(87,016

)

 

1,182,540

 

 

(317,329

)

 

(391,162

)

 

387,158

 

 

10,580

 

 

397,738

 

Share based awards and share based awards compensation expense

 

 

—

 

 

—

 

 

6,014

 

 

—

 

 

—

 

 

6,014

 

 

 

 

6,014

 

Stock withholdings related to share based awards that vested during the three months ended September 30, 2021

 

 

—

 

 

(4

)

 

—

 

 

—

 

 

—

 

 

(4

)

 

—

 

 

(4

)

Net loss

 

 

—

 

 

—

 

 

—

 

 

(77,814

)

 

—

 

 

(77,814

)

 

241

 

 

(77,573

)

Unrealized gain to fair value adjustments on interest rate swap agreements, net of taxes, net of settlements

 

 

—

 

 

—

 

 

—

 

 

—

 

 

1,462

 

 

1,462

 

 

—

 

 

1,462

 

Amortization of accumulated losses for amended swap agreements

 

 

—

 

 

—

 

 

—

 

 

—

 

 

1,124

 

 

1,124

 

 

—

 

 

1,124

 

Foreign currency translation adjustments

 

 

—

 

 

—

 

 

—

 

 

—

 

 

(13,804

)

 

(13,804

)

 

—

 

 

(13,804

)

Balance at September 30, 2021

 

$

125

 

$

(87,020

)

$

1,188,554

 

$

(395,143

)

$

(402,380

)

$

304,136

 

$

10,821

 

$

314,957

 

 

 

 

 

 

  Common Stock

 

  Treasury Stock

 

  Additional Paid-In-Capital

 

  Retained Earnings

 

 Accumulated Other Comprehensive Loss

 

Total Cinemark Holdings, Inc. Stockholders’ Equity

 

  Noncontrolling Interests

 

  Total Equity

 

Balance at January 1, 2020

 

$

122

 

$

(81,567

)

$

1,170,039

 

$

687,332

 

$

(340,112

)

$

1,435,814

 

$

12,508

 

$

1,448,322

 

Issuance of share based awards and share based awards compensation expense

 

 

—

 

 

—

 

 

4,111

 

 

—

 

 

—

 

 

4,111

 

 

—

 

 

4,111

 

Stock withholdings related to share based awards that vested during the three months ended March 31, 2020

 

 

—

 

 

(2,691

)

 

—

 

 

—

 

 

—

 

 

(2,691

)

 

—

 

 

(2,691

)

Dividends paid to stockholders, $0.36 per common share (1)

 

 

—

 

 

—

 

 

—

 

 

(42,311

)

 

—

 

 

(42,311

)

 

—

 

 

(42,311

)

Dividends paid to noncontrolling interests

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

(392

)

 

(392

)

Dividends accrued on unvested restricted stock unit awards (1)

 

 

—

 

 

—

 

 

—

 

 

(256

)

 

—

 

 

(256

)

 

—

 

 

(256

)

Net loss

 

 

—

 

 

—

 

 

—

 

 

(59,591

)

 

—

 

 

(59,591

)

 

169

 

 

(59,422

)

Unrealized loss due to fair value adjustments on interest rate swap agreements, net of taxes, net of settlements

 

 

—

 

 

—

 

 

—

 

 

—

 

 

(24,171

)

 

(24,171

)

 

—

 

 

(24,171

)

Foreign currency translation adjustments

 

 

—

 

 

—

 

 

—

 

 

—

 

 

(57,625

)

 

(57,625

)

 

—

 

 

(57,625

)

Balance at March 31, 2020

 

 

122

 

 

(84,258

)

 

1,174,150

 

 

585,174

 

 

(421,908

)

 

1,253,280

 

 

12,285

 

 

1,265,565

 

Issuance of share based awards and share based awards compensation expense

 

 

—

 

 

—

 

 

4,321

 

 

—

 

 

—

 

 

4,321

 

 

—

 

 

4,321

 

Stock withholdings related to share based awards that vested during the three months ended June 30, 2020

 

 

—

 

 

(107

)

 

—

 

 

—

 

 

—

 

 

(107

)

 

—

 

 

(107

)

Net loss

 

 

—

 

 

—

 

 

—

 

 

(170,389

)

 

—

 

 

(170,389

)

 

(427

)

 

(170,816

)

Unrealized gain due to fair value adjustments on interest rate swap agreements, net of taxes, net of settlements

 

 

—

 

 

—

 

 

—

 

 

—

 

 

849

 

 

849

 

 

—

 

 

849

 

Amortization of accumulated losses for amended swap agreements

 

 

—

 

 

—

 

 

—

 

 

—

 

 

2,669

 

 

2,669

 

 

—

 

 

2,669

 

Foreign currency translation adjustments

 

 

—

 

 

—

 

 

—

 

 

—

 

 

(3,702

)

 

(3,702

)

 

—

 

 

(3,702

)

Balance at June 30, 2020

 

$

122

 

$

(84,365

)

$

1,178,471

 

$

414,785

 

$

(422,092

)

$

1,086,921

 

$

11,859

 

$

1,098,780

 

Issuance of share based awards and share based awards compensation expense

 

 

1

 

 

—

 

 

4,427

 

 

—

 

 

 

 

4,428

 

 

 

 

4,428

 

Stock withholdings related to share based awards that vested during the three months ended September 30, 2020

 

 

—

 

 

(67

)

 

—

 

 

—

 

 

—

 

 

(67

)

 

—

 

 

(67

)

Net loss

 

 

—

 

 

—

 

 

—

 

 

(147,592

)

 

—

 

 

(147,592

)

 

(444

)

 

(148,036

)

Issuance of convertible senior notes, net of allocated debt issue costs

 

 

—

 

 

—

 

 

97,359

 

 

—

 

 

—

 

 

97,359

 

 

—

 

 

97,359

 

Tax impact of convertible notes issued

 

 

—

 

 

—

 

 

10,960

 

 

—

 

 

—

 

 

10,960

 

 

—

 

 

10,960

 

Call options purchased

 

 

—

 

 

—

 

 

(142,094

)

 

—

 

 

—

 

 

(142,094

)

 

—

 

 

(142,094

)

Proceeds from issuance of warrants

 

 

—

 

 

—

 

 

89,424

 

 

—

 

 

—

 

 

89,424

 

 

—

 

 

89,424

 

Unrealized gain to fair value adjustments on interest rate swap agreements, net of taxes, net of settlements

 

 

—

 

 

—

 

 

—

 

 

—

 

 

6,528

 

 

6,528

 

 

—

 

 

6,528

 

Amortization of accumulated losses for amended swap agreements

 

 

—

 

 

—

 

 

—

 

 

—

 

 

2,669

 

 

2,669

 

 

—

 

 

2,669

 

Foreign currency translation adjustments

 

 

—

 

 

—

 

 

—

 

 

—

 

 

(1,503

)

 

(1,503

)

 

—

 

 

(1,503

)

Balance at September 30, 2020

 

$

123

 

$

(84,432

)

$

1,238,547

 

$

267,193

 

$

(414,398

)

$

1,007,033

 

$

11,415

 

$

1,018,448

 

 

On March 20, 2020 the Company paid a $0.36 dividend per common share to stockholders of record on March 6, 2020. Additionally, the Company accrued dividends on outstanding unvested restricted stock units.