CORPORATE BORROWINGS AND FINANCE LEASE LIABILITIES (Tables)

6 Months Ended

Jun. 30, 2024

CORPORATE BORROWINGS AND FINANCE LEASE LIABILITIES

Summary of the carrying value of corporate borrowings and capital and financing lease obligations

(In millions)	June 30, 2024		December 31, 2023
First Lien Secured Debt:
Senior Secured Credit Facility-Term Loan due 2026 (8.444% as of June 30, 2024 and 8.474% as of December 31, 2023)	$	1,895.0	$	1,905.0
12.75% Odeon Senior Secured Notes due 2027		400.0		400.0
7.5% First Lien Notes due 2029		950.0		950.0
Second Lien Secured Debt:
10%/12% Cash/PIK Toggle Second Lien Subordinated Notes due 2026		777.6		968.9
Subordinated Debt:
6.375% Senior Subordinated Notes due 2024 (£4.0 million par value as of June 30, 2024)		5.0		5.1
5.75% Senior Subordinated Notes due 2025		98.3		98.3
5.875% Senior Subordinated Notes due 2026		51.5		51.5
6.125% Senior Subordinated Notes due 2027		125.5		125.5
Total principal amount of corporate borrowings	$	4,302.9	$	4,504.3
Finance lease liabilities		50.6		55.4
Deferred financing costs		(27.5)		(31.1)
Net premium (1)		60.1		104.2
Total carrying value of corporate borrowings and finance lease liabilities	$	4,386.1	$	4,632.8
Less:
Current maturities of corporate borrowings		(123.1)		(25.1)
Current maturities of finance lease liabilities		(4.3)		(5.4)
Total noncurrent carrying value of corporate borrowings and finance lease liabilities	$	4,258.7	$	4,602.3

Summary of net premium (discount) amounts of corporate borrowings

	June 30,		December 31,
(In millions)	2024		2023
10%/12% Cash/PIK Toggle Second Lien Subordinated Notes due 2026	$	86.5	$	133.9
Senior Secured Credit Facility-Term Loan due 2026		(2.6)		(3.3)
12.75% Odeon Senior Secured Notes due 2027		(23.8)		(26.4)
Net premium	$	60.1	$	104.2

Schedule of minimum annual payments required under existing capital and financing lease obligations (net present value thereof) and maturities of corporate borrowings

	Principal
	Amount of
	Corporate
(In millions)	Borrowings
Six months ended December 31, 2024	$	15.0
2025		118.3
2026		2,694.1
2027		525.5
2028		—
2029		950.0
Total	$	4,302.9

Schedule of share issuance upon exchange of debt

			Shares of
	Aggregate Principal		Common Stock		Gain on		Accrued Interest
(In millions, except for share data)	Exchanged		Exchanged		Extinguishment		Exchanged
Second Lien Notes due 2026	$	191.4		27,545,325	$	91.1	$	7.4

Schedule of debt repurchases transactions

The below table summarizes the cash debt repurchase transactions during the six months ended June 30, 2023, including repurchases with a related party:

	Aggregate Principal		Reacquisition		Gain on		Accrued Interest
(In millions)	Repurchased		Cost		Extinguishment		Paid
Related party transactions:
Second Lien Notes due 2026	$	58.9	$	36.2	$	33.4	$	1.0
5.875% Senior Subordinated Notes due 2026		4.1		1.7		2.3		0.1
Total related party transactions		63.0		37.9		35.7		1.1
Non-related party transactions:
Second Lien Notes due 2026		82.5		46.2		51.0		2.1
Total non-related party transactions		82.5		46.2		51.0		2.1
Total debt repurchases	$	145.5	$	84.1	$	86.7	$	3.2