STOCKHOLDERS' EQUITY (Tables)

9 Months Ended

Sep. 30, 2023

STOCKHOLDERS' EQUITY

Summary of stock based compensation

	Three Months Ended				Nine Months Ended
	September 30,		September 30,		September 30,		September 30,
(In millions)	2023		2022		2023		2022
Equity classified awards:
Special awards expense	$	—	$	—	$	20.2	$	—
Board of director stock award expense		—		—		0.9		0.8
Restricted stock unit expense		3.7		3.5		10.5		9.8
Performance stock unit expense		3.6		(7.1)		9.0		11.7
Total equity classified awards:		7.3		(3.6)		40.6		22.3
Liability classified awards:
Restricted and performance stock unit expense		(0.1)		—		0.3		—
Total liability classified awards:		(0.1)		—		0.3		—
Total stock-based compensation expense	$	7.2	$	(3.6)	$	40.9	$	22.3

Schedule of Nonvested RSU, PSU and SPSU Activity

		Weighted
		Average
	Common Stock	Grant Date
	RSUs and PSUs (3)	Fair Value
Nonvested at January 1, 2023	626,195	$	59.14
Granted (1)	616,186		39.99
Granted - Special Award	477,918		42.25
Vested	(222,920)		57.43
Vested - Special Award	(257,945)		42.18
Forfeited	(26,036)		44.44
Cancelled (2)	(150,755)		60.14
Cancelled - Special Award (2)	(219,973)		42.34
Nonvested at September 30, 2023	842,670	$	45.87
Tranche Years 2024 and 2025 awarded under the 2023 PSU award and Tranche Year 2024 awarded under the 2022 PSU award with grant date fair values to be determined in years 2024 and 2025, respectively	228,199
Total Nonvested at September 30, 2023	1,070,869

(1) The number of PSU shares granted under the Tranche Year 2023 assumes the Company will attain a performance target at 100% for the Adjusted EBITDA target and 100% for the free cash flow target.

(2) Represents vested RSUs and PSUs surrendered in lieu of taxes and cancelled awards returned to the 2013 Equity Incentive Plan. As a result, the Company paid taxes for restricted unit withholdings of approximately $14.2 million during the nine months ended September 30, 2023.

(3) Includes AMC Preferred Equity Unit RSUs and PSUs that were converted to Common Stock RSUs and PSUs as a result of the Charter Amendments.

Schedule of Stockholder's Equity

				Preferred Stock
				Series A Convertible						Accumulated
	Class A Voting			Participating	Depositary Shares of			Additional		Other				Total
	Common Stock			Preferred Stock	AMC Preferred			Paid-in		Comprehensive		Accumulated		Stockholders’
(In millions, except share and per share data)	Shares	Amount		Shares	Equity Units	Amount		Capital		Loss		Deficit		Equity (Deficit)
Balances December 31, 2022	51,683,892	$	0.5	7,245,872	72,458,706	$	0.1	$	5,049.8	$	(77.3)	$	(7,597.6)	$	(2,624.5)
Net loss	—		—	—	—		—		—		—		(235.5)		(235.5)
Other comprehensive loss	—		—	—	—		—		—		(7.3)		—		(7.3)
Share issuance	—		—	492,880	4,928,800		—		70.5		—		—		70.5
Antara Forward Purchase Agreement (2)	—		—	1,976,213	19,762,130		—		193.7		—		—		193.7
Taxes paid for restricted unit withholdings	—		—	—	—		—		(13.1)		—		—		(13.1)
Stock-based compensation (1)	235,346		—	26,944	269,444		—		25.9		—		—		25.9
Balances March 31, 2023	51,919,238	$	0.5	9,741,909	97,419,080	$	0.1	$	5,326.8	$	(84.6)	$	(7,833.1)	$	(2,590.3)
Net earnings	—		—	—	—		—		—		—		8.6		8.6
Other comprehensive loss	—		—	—	—		—		—		(40.0)		—		(40.0)
Share issuance	—		—	212,156	2,121,562		—		32.7		—		—		32.7
Taxes paid for restricted unit withholdings	—		—	—	—		—		(1.1)		—		—		(1.1)
Stock-based compensation	—		—	—	—		—		7.5		—		—		7.5
Balances June 30, 2023	51,919,238	$	0.5	9,954,065	99,540,642	$	0.1	$	5,365.9	$	(124.6)	$	(7,824.5)	$	(2,582.6)
Net loss	—		—	—	—		—		—		—		12.3		12.3
Other comprehensive income	—		—	—	—		—		—		9.2		—		9.2
AMC Preferred Equity Unit conversion	99,540,642		1.0	(9,954,065)	(99,540,642)		(0.1)		(0.9)		—		—		—
Settlement payment	6,897,018		0.1	—	—		—		99.2		—		—		99.3
Share issuance	40,000,000		0.4	—	—		—		316.1		—		—		316.5
Stock-based compensation	—		—	—	—		—		7.3		—		—		7.3
Balances September 30, 2023	198,356,898	$	2.0	—	—	$	—	$	5,787.6	$	(115.4)	$	(7,812.2)	$	(2,138.0)

(1) Includes 8,555 Common Stock shares and 15,370 AMC Preferred Equity Units awarded to the Board of Directors, 226,791 vested Common Stock RSUs and PSUs, and 254,074 AMC Preferred Equity Units RSUs and PSUs.

(2) Includes $75.1 million of cash proceeds and $118.6 million carrying value of the debt exchanged for AMC Preferred Equity Units.

				Preferred Stock
				Series A Convertible						Accumulated
	Class A			Participating	Depositary Shares of			Additional		Other				Total AMC
	Common Stock			Preferred Stock	AMC Preferred			Paid-in		Comprehensive		Accumulated		Stockholders’
(In millions, except share and per share data)	Shares	Amount		Shares	Equity Units	Amount		Capital		Income (Loss)		Deficit		Equity (Deficit)
Balances December 31, 2021	51,397,910	$	0.5	5,139,791	51,397,910	$	0.1	$	4,862.0	$	(28.1)	$	(6,624.0)	$	(1,789.5)
Net loss	—		—	—	—		—		—		—		(337.4)		(337.4)
Other comprehensive loss	—		—	—	—		—		—		(5.8)		—		(5.8)
Taxes paid for restricted unit withholdings	—		—	—	—		—		(52.2)		—		—		(52.2)
Stock-based compensation (1)	284,150		0.1	28,415	284,150		—		6.5		—		—		6.6
Balances March 31, 2022	51,682,060	$	0.6	5,168,206	51,682,060	$	0.1	$	4,816.3	$	(33.9)	$	(6,961.4)	$	(2,178.3)
Net loss	—		—	—	—		—		—		—		(121.6)		(121.6)
Other comprehensive income	—		—	—	—		—		—		(46.3)		—		(46.3)
Stock-based compensation	—		—	—	—		—		19.4		—		—		19.4
Balances June 30, 2022	51,682,060	$	0.6	5,168,206	51,682,060	$	0.1	$	4,835.7	$	(80.2)	$	(7,083.0)	$	(2,326.8)
Net loss	—		—	—	—		—		—		—		(226.9)		(226.9)
Other comprehensive loss	—		—	—	—		—		—		(26.0)		—		(26.0)
Share issuance	—		—	27,000	270,000		—		4.3		—		—		4.3
Stock-based compensation	—		—	—	—		—		(3.6)		—		—		(3.6)
Balances September 30, 2022	51,682,060	$	0.6	5,195,206	51,952,060	$	0.1	$	4,836.4	$	(106.2)	$	(7,309.9)	$	(2,579.0)

(1) Includes 4,165 Common Stock shares and 4,165 AMC Preferred Equity Units awarded to Board of Directors, 279,985 vested Common Stock RSUs and PSUs, and 279,985 vested AMC Preferred Equity Units RSUs and PSUs.