Cinemark Holdings, Inc. Files Q3 2024 10-Q Report

TL;DR

Cinemark's Q3 2024 10-Q is in. Check financials.

AI Summary

Cinemark Holdings, Inc. filed its 10-Q for the period ending September 30, 2024. The filing details financial performance and operational updates for the company, which operates motion picture theaters. Specific financial figures and segment performance are included within the report.

Why It Matters

This report provides investors and analysts with a detailed look at Cinemark's financial health and operational status during the third quarter of 2024, influencing investment decisions.

Risk Assessment

Risk Level: medium — As a publicly traded company in the entertainment sector, Cinemark faces inherent market risks, competition, and economic sensitivities that are detailed in its SEC filings.

Key Numbers

• Q3 — Quarter (Reporting period for the 10-Q filing)

Key Players & Entities

• Cinemark Holdings, Inc. (company) — Filer of the 10-Q report
• CINEMARK USA INC /TX (company) — Subsidiary of Cinemark Holdings, Inc.
• 20240930 (date) — End of the reporting period
• 20241031 (date) — Filing date of the report

FAQ

Key Financial Figures

• $0.001 — , 122,364,524 s hares of common stock, $0.001 par value per share, of Cinemark Holdin
• $0.01 — , 1,500 shares of Class A common stock, $0.01 par value per share, and 182,648 shares

Filing Documents

• cnk-20240930.htm (10-Q) — 5148KB
• cnk-ex31_1.htm (EX-31.1) — 15KB
• cnk-ex31_2.htm (EX-31.2) — 15KB
• cnk-ex31_3.htm (EX-31.3) — 15KB
• cnk-ex31_4.htm (EX-31.4) — 15KB
• cnk-ex32_1.htm (EX-32.1) — 9KB
• cnk-ex32_2.htm (EX-32.2) — 9KB
• cnk-ex32_3.htm (EX-32.3) — 8KB
• cnk-ex32_4.htm (EX-32.4) — 8KB
• 0000950170-24-119234.txt ( ) — 17683KB
• cnk-20240930.xsd (EX-101.SCH) — 2182KB
• cnk-20240930_htm.xml (XML) — 3520KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION Item 1. Cinemark Holdings, Inc. and Subsidiaries Financial Statements (unaudited) Condensed Consolidated Balance Sheets as of September 30, 2024 and December 31, 2023 3 Condensed Consolidated Statements of Income for the three and nine months ended September 30, 2024 and 2023 4 Condensed Consolidated Statements of Comprehensive Income for the three and nine months ended September 30, 2024 and 2023 5 Condensed Consolidated Statements of Equity for the three and nine months ended September 30, 2024 and 2023 6 Condensed Consolidated Statements of Cash Flows for the nine months ended September 30, 2024 and 2023 8 Cinemark USA, Inc. and Subsidiaries Financial Statements (unaudited) Condensed Consolidated Balance Sheets as of September 30, 2024 and December 31, 2023 9 Condensed Consolidated Statements of Income for the three and nine months ended September 30, 2024 and 2023 10 Condensed Consolidated Statements of Comprehensive Income for the three and nine months ended September 30, 2024 and 2023 11 Condensed Consolidated Statements of Equity for the three and nine months ended September 30, 2024 and 2023 12 Condensed Consolidated Statements of Cash Flows for the nine months ended September 30, 2024 and 2023 14 Cinemark Holdings, Inc. and Cinemark USA, Inc. Notes to Condensed Consolidated Financial Statements 15 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 38 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 52 Item 4.

Controls and Procedures

Controls and Procedures 52

OTHER INFORMATION

PART II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 54 Item 1A.

Risk Factors

Risk Factors 54 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 54 Item 5. Other Information 55 Item 6. Exhibits 61

SIGNATURES

SIGNATURES 62 1 Cautionary Statement Regarding Forward-Looking Statements Certain matters within this Quarterly Report on Form 10-Q include "forward–looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. The "forward-looking statements" include our current expectations, assumptions, estimates and projections about the respective business and industry of Holdings and CUSA. They include statements relating to: future revenue, expenses and profitability; currency exchange rate and inflationary impacts; the future development and expected growth of our business; projected capital expenditures; access to capital resources; attendance at movies generally or in any of the markets in which we operate; the number and diversity of popular movies released, the length of exclusive theatrical release windows and our ability to successfully license and exhibit popular films; national and international growth in our industry; competition from other exhibitors, alternative forms of entertainment and content delivery via streaming and other formats; determinations in lawsuits in which we are a party; and the ongoing recovery of our business and the motion picture exhibition industry from the effects of the COVID-19 pandemic and the 2023 writers' and actors' guilds strikes. You can identify forward-looking statements by the use of words such as "may," "should," "could," "estimates," "predicts," "potential," "continue," "anticipates," "believes," "plans," "expects," "future" and "intends" and similar expressions. These statements are neither historical facts nor guarantees of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions and are, therefore, subject to risks, inherent uncertai

- FINANC IAL INFORMATION

PART I - FINANC IAL INFORMATION

Financ ial Statements

Item 1. Financ ial Statements CINEMARK HOLDINGS, INC. AND SUBSIDIARIES CONDENSED CONSOLIDA TED BALANCE SHEETS (in millions, except share and per share data, unaudited) September 30, December 31, 2024 2023 Assets Current assets Cash and cash equivalents $ 928.3 $ 849.1 Inventories 29.3 23.3 Accounts receivable 91.4 80.4 Current income tax receivable 39.8 56.7 Prepaid expenses and other 47.5 50.5 Total current assets 1,136.3 1,060.0 Theatre properties and equipment, net 1,121.2 1,161.7 Operating lease right-of-use assets, net 969.6 986.4 Other long-term assets Goodwill 1,245.5 1,251.0 Intangible assets, net 301.2 302.8 Investment in NCMI 30.8 18.1 Investments in affiliates 29.8 23.6 Long-term deferred tax asset 68.4 7.7 Deferred charges and other assets, net 32.1 25.5 Total other long-term assets 1,707.8 1,628.7 Total assets $ 4,934.9 $ 4,836.8 Liabilities and equity Current liabilities Current portion of long-term debt $ 463.4 $ 7.8 Current portion of operating lease obligations 211.9 212.5 Current portion of finance lease obligations 16.4 14.0 Current income tax payable 1.8 4.2 Accounts payable and accrued expenses 463.0 491.8 Total current liabilities 1,156.5 730.3 Long-term liabilities Long-term debt, less current portion 1,870.4 2,391.3 Operating lease obligations, less current portion 825.7 853.3 Finance lease obligations, less current portion 94.1 73.8 Long-term deferred tax liability 3.8 51.7 Long-term liability for uncertain tax positions 50.4 48.0 NCM screen advertising advances 321.1 328.4 Other long-term liabilities 45.0 41.2 Total long-term liabilities 3,210.5 3,787.7 Equity Cinemark Holdings, Inc.'s stockholders' equity: Common stock, $ 0.001 par value: 300,000,000 shares authorized, 128,696,154 shares issued and 122,371,884 shares ou