17. From a financial perspective, what are the greatest obstacles to AMCs prospects? From a financial perspective, what are the greatest strengths impacting AMCs prospects?
102.80 132.40 27,50 550 AMC Holdings - Quarterly Income Statements (in millions, except share and per share Three Months Ended amounts) March 31 June 30 September 30 December 31 March 31 June 30 September 30 December 31 March 31 June 30 September 30 December 31 March 31 June 30 September 30 2017 2017 2017 2017 2018 2018 2018 2018 2019 2019 2019 2019 2020 2020 2020 Revenues Admissions S 817.30 $ 761.40 $ 753.50 S 897.30 $ 875.00 $ 896.30 S 751.10 $ 862.30 $ 731.50 S 895.50 $ 797.30 $ 797.30 $ 877.00 S 508.00 $ 0.90 $ 62.90 Food and beverage 397 90 374 10 361 40 415 41500) 405 80 445 80 384 80 435 10 388 80 492 50 420 00 438 00 288 10 0.40 29 10 Other theatre 68.20 68.80 63.80 102.50 100.40 85.20 115.90 100.10 118.10 99.50 85.40 17.60 Total revenues 1 283 40 1,202.30 1,178.70 1 414.80) 1,383 60 1,442.50 1 221.40 1,413.30 1,200.40 1506 10 1,316.80 1,447.70 941.50 18.90 119.50 Operating costs and expenses Film exhibition costs 120.70 379.80 364.80 139.00 426.50 471.10 378.80 433.50 365.30 182.50 410.80 431.50 271.70 0.20 26.60 Food and beverage costs 60 60 52.10 60 70 68 70 5620 72 20 63 60 68 90 11.50 76 40 67 20 73 60 53 40 450 8 80 Operating expense, excluding depreciation and amortization below 3630) 389 20 383.20 411.70 411.90 424.50 4000 1,654.70 402.80 437 40 419.00 427.40 356.90) 114.80 192.10 Rent 182.60 199.00 200.70 211.30 109.70 199.70 203.70 ( (14.60) 242.00 245.90 230.70 241.20 237.80 224.10 214.30 General and administrative: Merger acquisition and transaction costs 40 40 11 50 5 60 4 70 4.30 18 10 420 330 320 4.70 4.30 020 1 80 100 Other, excluding depreciation and amortization 46.10 32.80 78.90 32.70 below 34.50 98.70 44 20 43.00 48.40 43.70 46.20 43 20 37.50 26.10 33 20 25.40 Depreciation and amortization 125.30 133.30 135.20 144 00 130.50 137.70 130 20 139 40 113.00 112.00 112.10 112.90 122.50 119.70 123.50 Impairment of long-lived assets, definite and indefinite-lived 43.00 intangible assets and gooxlwill 13 80 84 30 1 851 90) 195 90 Operating costs and expenses 1.228.00 1,221.80 1,183.00 1,344.40 1,273.70 1,352.80 1.243.30 1,328.00 1,234,10 1.400.80 1,298.00 1,404.30 2.927.60 490.50 794.90 Operating Income 55.40 (1950) (4.30) 7040 109.90 89.70 (21.90) 87.30 (33.70) 106.50 20.80 43.40 (1.986.10) (4/1.60) (675.40) Other expense (income): Other expense (income) (2.70) 1.10 (0.60) 0.70 1.20 2.20 54.10 (165.00) (23.10) (1.30) 38.10 26.90 (6.00) 125.00 Interest expense 29 80 (29 801) Corporate borrowings 51.10 59.60 60.80 60.10 61.70 62.20 64.30 74.10 71.30 74.20 73.20 74.10 71.30 79.60 82.80 Capital and financing lease obligations 10.80 10.30 10.60 10.70 10.30 9.80 9.40 9.00 2.10 2.10 1.80 1.60 1.00 1.50 1.40 Non cash NCM exhibitor service agrement 10.50 10.40 10.30 10.30 10.20 10.10 10.10 10.00 9.90 10.10 10.10 Equity in Income (loss) of non-consolidated entities 230 195 OD 1 80 13 %) 900 (13 001) (7000) (12 70) (6.50) (1020) (750) (6 40) 2 990) 12 40 10 60 Investment income (5.30) 0.60 (16.60) 1.30 (5.20) ( (1.50) (0.70) 1.20 (16.10) (2.10) ( (0.50) 2.70 9.40 (1.30) (4.10) Total other expense 56 20 256.60 56.00 56.30 87.50 70.10 67 40 (83.70) 90.80 50.70 75.80 9.03 122.00 95.70 225.80 Carnings (loss) before incomo laxos (0.00) (208. 10) (60.30) 14.10 22.40 19.60 (09.30) 171.00 (124.50) 54.80 (55.00) (46.90) (2.100.10) (587 30) (901.20) Income tax provision (benefit) (9.20) (109.60) (17.00) 290.50 1.70 (2.60) 11.10 0.10 5.70 5.10 (0.20) (33.10) 68.20 (6.10) 1.60 Net earnings (loss) S 8 40 $ (17650) $ (4270) S (976 40) $ 17 70 $ 22 20 S (10040) $ 170 60 $ (13020) S 4940 (540) $ (1350) S(2 17630) $ (58120) (905 801) Earnings (loss) per share attributable to AMC Entertainment Holdings, Hasic S 0.07 $ (1.35) $ (0.33) S (2.19) $ 0.14 $ 0.17 S (0.82) $ 1.42 $ (125) S 0.48 $ (0.53) $ (0.14) S (20.88) $ (538) $ (8.41) S 007 $ (1.35) $ (0.33) S (2.19) $ 0.14 $ 0.17 S (0.62) $ 0.92 $ (1.25) S 0.17 $ (0.53) $ (0.17) S 20 B0 $ (5.30) $ (0.41) Average shares outstanding Hasic (in thousands) 121,3533 131,186 131,077 128,246 128.046 128 039 123 126 120,621 103,783 103,845 103,850 103,832 104 245 104,319 107 695 Diluted (in thousands) 121,401 131, 106 131,077 128.246 128,046 128, 106 123,120 130,105 103,783 135.528 103,850 103,832 104,245 104,319 107,695 Dividends declared per basic and diluted common share S 0 20 $ 0.20 $ 0.20 020 $ 0.20 $ 0.20 S 1.55 $ 0.20 $ 0.20 S 0 20 $ 0.20 $ 0.20 $ 0.03 (1.30) Diluted Consolidated Balance Sheets Three Months Ended March 31 June 30 September 30 December 31 March 31 June 30 September 30 December 31 March 31 June 30 September 30 December 31 March 31 June 30 September 30 ASSETS 2017 2017 2017 2017 2016 2018 2010 2018 2010 2019 2019 2019 2020 2020 2020 Current assets: Cash and equivalents $ 313.10 S $ S $ 127.80 $260.00 S 310.00 $ 300.90 S 316.40 $ 333.30 S 313.30 $ 184.60 S 190.50 $ 100.40 S 255.00 $ 299.80 S 498.00 $ 417.90 Restricted cash 6.50 6.80 8.30 11.60 11.00 11.00 10.70 10.60 10.70 10.20 10.50 10.00 10.40 10.90 Receivables.net 144.80 153.80 128.90 271,50 167.10 179.10 155.20 259.50 193.80 228.50 157.90 254.20 126.80 70.70 97.50 Assets held for sale 221.40 110.50 80.00 54.40 130.50 Other current assets 211.70 223.70 226.30 202.60 204.10 203.90 187.00 197.80 162.60 160.30 180.20 143.40 115.20 100.60 82.30 Total current assets 891.00 622.30 622.00 872.40 738.10 840.90 686.50 781.30 551.60 590.00 448.70 673.10 551.80 679.70 608.60 Property, net 3,162 20 3254.00 3244.50 3.116.50 3,091.30 3.028.10 3,028.60 3.039.60 2,600.80 2 613.90 2.581.40 2.549.20 4,602 30 2.417.50 2.332.50 Operating lease right-of-use assets, net 4,809.20 4,798.90 4,794.90 4,796.00 4,602.30 4,555.30 4,475.80 Intangible assets, net 362.60 389.40 387.80 380.50 378.00 365.30 359.30 352. 10 199.00 197.60 193.90 195.30 175.10 174.30 164.50 Goodwill 4,823.70 4932 20 4889.50 4.931.70 4,944.20 4.830.70 4,820.80 4.788.70 4.787.90 4.753.00 4,693.80 4.789.10 2.938.00 2.988.40 2,874.40 Deferred tax asset 105,40 204.70 222.20 28.90 28.20 28.20 29.50 28.60 31.00 31.10 30.70 70.10 0.50 0.60 0.60 Other long-term assets 595.10 509.10 544.70 475.90 505.90 438.60 438.30 505.50 493.70 520.40 537.90 503.00 450.20 455.80 419.80 Total assets $ 9,940.00 S 9.811.70 $ 9,910.70 S 9.805.90 $ 9,685.70 S 9.531.80 $9,363.00 S 9.495.80 $13,473.20 $13.514.90 $13,281.30 $13.675.80 $11,238.30 $11.271.60 $10,876.20 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 510.40 477.80 469.10 S 569.60 $ 454.20 $ 535.80 $ 395.10 S 452.60 $ 382.80 S 423.20 $ 361.60 S 543.30 $ 337.10 S 436.10 $ 376.90 Accrued expenses and other liabilities 330.70 289.80 337.40 351.10 348.50 312.20 387.10 378.50 342.40 317.80 338.60 324.60 263.00 257.50 268.90 Deferred revenues and Income 294.50 292.80 284.60 401.00 332.90 311.20 293.20 414.80 370.10 359.80 347.50 449.20 400.30 405.10 400.90 Current maturities of corporate borrowings 103.20 86.20 89.10 87.70 86.60 B4.20 83.00 15.20 15.20 21.40 21.40 20.00 20.00 20.00 20.00 Current maturities of finance lease liabilities 11.60 10.90 10.00 10.30 10.20 10.00 10.50 Current maturities of operating lease liabilities 570.70 570.80 568.10 585.80 581.50 581.50 511.00 Current maturtles of capital and financing lease 57.00 Total current liabilities 1,238.80 1146.60 1180.20 1,409.40 1,222.20 1.243.40 1.158.40 1,328.10 1.692.80 1.713.90 1.647.20 1.933.20 1.612.10 1,711.20 1,588.20 Corporate borrowings 4,180.00 4249.10 4277.40 4.220.10 4.244.10 4.202.60 4,840.30 4.707.80 4.737.70 4.713.10 4,710.10 4,733.40 5,020.80 5.498.00 5,803 80 Capital and financing lease obligations 613.10 599.10 594.40 578.90 573.10 536.80 516.70 493.20 117.00 109.40 89.50 89.60 85.00 83.90 84.20 Operating lease liabilities 4,826.60 4.852.00 4,857.60 4.913.80 4,784.30 4.744.40 4,909.40 Exhibitor services agreement 553.30 545.90 538.40 530.90 575.00 571.40 567.70 564.00 561.60 557.70 553.80 549.70 550.40 546.30 542.00 Deferred tax liability 26.60 46.90 47.40 49.60 48.50 44.30 44.30 41.60 45.80 51.70 49.80 46.00 47.70 43.20 43.40 Other long-term liabilities 726.50 746.60 847.70 903.80 937.50 963.00 980.70 963.10 188.20 192.00 190.00 195.90 212.00 220.00 240.60 Total liabilities 7,338.30 7334,20 7485.50 7.692.70 7,600.40 7.551.50 8,108.10 8.097.80 12,169.70 12.189.80 12,098.00 12.451.60 12312.3 12.847.00 13,211.60 Stockholders' equity: Class A common stock ($.01 Par value) 1.10 0.50 0.50 0.50 0.50 0.50 0.50 0.50 0.50 0.50 0.50 0.50 0.50 0.50 Class B common stock (8.01 par value) 0.60 0.80 0.80 0.80 0.80 0.80 0.50 0.50 0.50 0.50 0.50 0.50 0.50 0.50 0.50 Additional paid-in capital 2.237.80 2240.30 2240.00 2 241.60 2,242.90 2 247.00 1,994.50 1998.40 2,001.70 2.006.80 2,008.90 2.001.00 2,003.60 2.007.30 2,125.00 Treasury stock (0.70) (0.70) (1720) (48.20 (48.20) (56.40) () (56.40) (56.40) (56.40) (56.40) (56.40) (56.40) (56.40) (56.40) (56.40) Accumulated other comprehensive income (loss) (4.40) 72.10 105.80 125.60 140.50 33.50 26.00 5.50 (19.40) ) (28.60) (96.70) (119.60) (63.60) (4,387.00) Accumulated earnings (deficit) 366.50 153.60 94.50 (207.90) (251.70) (255.50) (710.60) (550.90) (623.40) (597.70) (673.50) (705.20) (2.902.60) (3.453.70) (2,370.00) Total stockholders' equity 2.600.60 2476.70 2424.40 2.112.40 2,084.80 1.959.90 1,254.50 1,397.60 1,303.50 1,325.10 1,183.30 1.214.00 (1,074.00) (1.575.40) (1.575.40) (2.335.40) Total liabilities and stockholders' equity $ 9,940.00 S 9.811.70 $ 9,910.70 S 9.805.90 $ 9,685.70 S 9.531.80 $9,363.00 S 9.495.80 $13,473.20 $13.514.90 $13,281.30 $13.675.80 $11,238.30 $11.271.60 $10,876.20 0.60 Statement of Cash Flows Operating Cash Flow 12/31/2017 12/31/2018 558,700 523,200 12/31/2019 579,000 TTM* (402,800) Net Income from Continuing Operations Operating Gains Losses Gain Loss On Sale of Business Gain Loss On Investment Securities Earnings Losses from Equity Investments Pension And Employee Benefit Expense Depreciation Amortization Depletion Deferred Tax Asset Impairment Charge Stock based compensation Other non-cash items Change in working capital Change in Receivables Change in Payables And Accrued Expense Change in Payable Change in Accrued Expense Change in Other Current Assets Cash Flow from Continuing Operating Activities (487,200) (2,500) 5,400 (2,600) (3,900) 600 538,600 157,800 251,600 5,700 99,700 (5,000) (36,600) 13,300 34,700 (21,400) 18,300 558,700 110,100 (184,100) (30,600) (111,400) (40,000) 1,100 537,800 (6,400) 29,800 14,900 38,800 (17,700) (200) (17,100) (85,600) 68,500 (400) 523,200 (149,100) (3,656,800) (2,200) 168,300 0 (5,800) 118,600 2,700 53,200 1,700 1,200 450,000 478,600 (33,700) 24,500 84,300 2,132,100 4,400 2,400 89,500 117,700 135,800 330,400 700 72,200 104,200 156,800 104,800 84,800 72,000 30,900 101,400 579,000 (402,800) (600) Investing Cash Flow (965,200) (317,200) (516,100) (322,500) (325,900) (9,500) 0 Capital Expenditure Reported Net Business Purchase And Sale Purchase of Business Sale of Business Net Other Investing Changes Cash Flow from Continuing Investing Activities (626,800) (496,400) (583,500) 98,200 158,000 (965,200) (576,300) 196,900 0 208,300 62,200 (317,200) (518,100) (21,500) (11,800) 0 23.500 (516,100) 12.900 (322,500) Financing Cash Flow 492,300 (194,800) (112,900) 1,042,500 525,900 525,900 (15,600) (15,600) 1,043,600 1,043,600 0 0 0 2.800 Net Issuance Payments of Debt Net Long Term Debt Issuance Net Short Term Debt Issuance Common Stock Issuance Common Stock Payments Cash Dividends Paid Common Stock Dividend Paid Net Other Financing Charges Cash Flow from Continuing Financing Activities 54,200 54,200 0 616,800 (34,000) (104,600) (104,600) (40,100) 492,300 0 (445,400) (258,100) (258,100) (17,200) (194,800) (84, 100) (84,100) (13,200) (112,900) (25,000) (25,000) 21,100 1,042,500 310,000 End Cash Position Changes in Cash 324,000 11,200 275,500 (50,000) 427,800 317,200 85,800 *Trailing 12 months 102.80 132.40 27,50 550 AMC Holdings - Quarterly Income Statements (in millions, except share and per share Three Months Ended amounts) March 31 June 30 September 30 December 31 March 31 June 30 September 30 December 31 March 31 June 30 September 30 December 31 March 31 June 30 September 30 2017 2017 2017 2017 2018 2018 2018 2018 2019 2019 2019 2019 2020 2020 2020 Revenues Admissions S 817.30 $ 761.40 $ 753.50 S 897.30 $ 875.00 $ 896.30 S 751.10 $ 862.30 $ 731.50 S 895.50 $ 797.30 $ 797.30 $ 877.00 S 508.00 $ 0.90 $ 62.90 Food and beverage 397 90 374 10 361 40 415 41500) 405 80 445 80 384 80 435 10 388 80 492 50 420 00 438 00 288 10 0.40 29 10 Other theatre 68.20 68.80 63.80 102.50 100.40 85.20 115.90 100.10 118.10 99.50 85.40 17.60 Total revenues 1 283 40 1,202.30 1,178.70 1 414.80) 1,383 60 1,442.50 1 221.40 1,413.30 1,200.40 1506 10 1,316.80 1,447.70 941.50 18.90 119.50 Operating costs and expenses Film exhibition costs 120.70 379.80 364.80 139.00 426.50 471.10 378.80 433.50 365.30 182.50 410.80 431.50 271.70 0.20 26.60 Food and beverage costs 60 60 52.10 60 70 68 70 5620 72 20 63 60 68 90 11.50 76 40 67 20 73 60 53 40 450 8 80 Operating expense, excluding depreciation and amortization below 3630) 389 20 383.20 411.70 411.90 424.50 4000 1,654.70 402.80 437 40 419.00 427.40 356.90) 114.80 192.10 Rent 182.60 199.00 200.70 211.30 109.70 199.70 203.70 ( (14.60) 242.00 245.90 230.70 241.20 237.80 224.10 214.30 General and administrative: Merger acquisition and transaction costs 40 40 11 50 5 60 4 70 4.30 18 10 420 330 320 4.70 4.30 020 1 80 100 Other, excluding depreciation and amortization 46.10 32.80 78.90 32.70 below 34.50 98.70 44 20 43.00 48.40 43.70 46.20 43 20 37.50 26.10 33 20 25.40 Depreciation and amortization 125.30 133.30 135.20 144 00 130.50 137.70 130 20 139 40 113.00 112.00 112.10 112.90 122.50 119.70 123.50 Impairment of long-lived assets, definite and indefinite-lived 43.00 intangible assets and gooxlwill 13 80 84 30 1 851 90) 195 90 Operating costs and expenses 1.228.00 1,221.80 1,183.00 1,344.40 1,273.70 1,352.80 1.243.30 1,328.00 1,234,10 1.400.80 1,298.00 1,404.30 2.927.60 490.50 794.90 Operating Income 55.40 (1950) (4.30) 7040 109.90 89.70 (21.90) 87.30 (33.70) 106.50 20.80 43.40 (1.986.10) (4/1.60) (675.40) Other expense (income): Other expense (income) (2.70) 1.10 (0.60) 0.70 1.20 2.20 54.10 (165.00) (23.10) (1.30) 38.10 26.90 (6.00) 125.00 Interest expense 29 80 (29 801) Corporate borrowings 51.10 59.60 60.80 60.10 61.70 62.20 64.30 74.10 71.30 74.20 73.20 74.10 71.30 79.60 82.80 Capital and financing lease obligations 10.80 10.30 10.60 10.70 10.30 9.80 9.40 9.00 2.10 2.10 1.80 1.60 1.00 1.50 1.40 Non cash NCM exhibitor service agrement 10.50 10.40 10.30 10.30 10.20 10.10 10.10 10.00 9.90 10.10 10.10 Equity in Income (loss) of non-consolidated entities 230 195 OD 1 80 13 %) 900 (13 001) (7000) (12 70) (6.50) (1020) (750) (6 40) 2 990) 12 40 10 60 Investment income (5.30) 0.60 (16.60) 1.30 (5.20) ( (1.50) (0.70) 1.20 (16.10) (2.10) ( (0.50) 2.70 9.40 (1.30) (4.10) Total other expense 56 20 256.60 56.00 56.30 87.50 70.10 67 40 (83.70) 90.80 50.70 75.80 9.03 122.00 95.70 225.80 Carnings (loss) before incomo laxos (0.00) (208. 10) (60.30) 14.10 22.40 19.60 (09.30) 171.00 (124.50) 54.80 (55.00) (46.90) (2.100.10) (587 30) (901.20) Income tax provision (benefit) (9.20) (109.60) (17.00) 290.50 1.70 (2.60) 11.10 0.10 5.70 5.10 (0.20) (33.10) 68.20 (6.10) 1.60 Net earnings (loss) S 8 40 $ (17650) $ (4270) S (976 40) $ 17 70 $ 22 20 S (10040) $ 170 60 $ (13020) S 4940 (540) $ (1350) S(2 17630) $ (58120) (905 801) Earnings (loss) per share attributable to AMC Entertainment Holdings, Hasic S 0.07 $ (1.35) $ (0.33) S (2.19) $ 0.14 $ 0.17 S (0.82) $ 1.42 $ (125) S 0.48 $ (0.53) $ (0.14) S (20.88) $ (538) $ (8.41) S 007 $ (1.35) $ (0.33) S (2.19) $ 0.14 $ 0.17 S (0.62) $ 0.92 $ (1.25) S 0.17 $ (0.53) $ (0.17) S 20 B0 $ (5.30) $ (0.41) Average shares outstanding Hasic (in thousands) 121,3533 131,186 131,077 128,246 128.046 128 039 123 126 120,621 103,783 103,845 103,850 103,832 104 245 104,319 107 695 Diluted (in thousands) 121,401 131, 106 131,077 128.246 128,046 128, 106 123,120 130,105 103,783 135.528 103,850 103,832 104,245 104,319 107,695 Dividends declared per basic and diluted common share S 0 20 $ 0.20 $ 0.20 020 $ 0.20 $ 0.20 S 1.55 $ 0.20 $ 0.20 S 0 20 $ 0.20 $ 0.20 $ 0.03 (1.30) Diluted Consolidated Balance Sheets Three Months Ended March 31 June 30 September 30 December 31 March 31 June 30 September 30 December 31 March 31 June 30 September 30 December 31 March 31 June 30 September 30 ASSETS 2017 2017 2017 2017 2016 2018 2010 2018 2010 2019 2019 2019 2020 2020 2020 Current assets: Cash and equivalents $ 313.10 S $ S $ 127.80 $260.00 S 310.00 $ 300.90 S 316.40 $ 333.30 S 313.30 $ 184.60 S 190.50 $ 100.40 S 255.00 $ 299.80 S 498.00 $ 417.90 Restricted cash 6.50 6.80 8.30 11.60 11.00 11.00 10.70 10.60 10.70 10.20 10.50 10.00 10.40 10.90 Receivables.net 144.80 153.80 128.90 271,50 167.10 179.10 155.20 259.50 193.80 228.50 157.90 254.20 126.80 70.70 97.50 Assets held for sale 221.40 110.50 80.00 54.40 130.50 Other current assets 211.70 223.70 226.30 202.60 204.10 203.90 187.00 197.80 162.60 160.30 180.20 143.40 115.20 100.60 82.30 Total current assets 891.00 622.30 622.00 872.40 738.10 840.90 686.50 781.30 551.60 590.00 448.70 673.10 551.80 679.70 608.60 Property, net 3,162 20 3254.00 3244.50 3.116.50 3,091.30 3.028.10 3,028.60 3.039.60 2,600.80 2 613.90 2.581.40 2.549.20 4,602 30 2.417.50 2.332.50 Operating lease right-of-use assets, net 4,809.20 4,798.90 4,794.90 4,796.00 4,602.30 4,555.30 4,475.80 Intangible assets, net 362.60 389.40 387.80 380.50 378.00 365.30 359.30 352. 10 199.00 197.60 193.90 195.30 175.10 174.30 164.50 Goodwill 4,823.70 4932 20 4889.50 4.931.70 4,944.20 4.830.70 4,820.80 4.788.70 4.787.90 4.753.00 4,693.80 4.789.10 2.938.00 2.988.40 2,874.40 Deferred tax asset 105,40 204.70 222.20 28.90 28.20 28.20 29.50 28.60 31.00 31.10 30.70 70.10 0.50 0.60 0.60 Other long-term assets 595.10 509.10 544.70 475.90 505.90 438.60 438.30 505.50 493.70 520.40 537.90 503.00 450.20 455.80 419.80 Total assets $ 9,940.00 S 9.811.70 $ 9,910.70 S 9.805.90 $ 9,685.70 S 9.531.80 $9,363.00 S 9.495.80 $13,473.20 $13.514.90 $13,281.30 $13.675.80 $11,238.30 $11.271.60 $10,876.20 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 510.40 477.80 469.10 S 569.60 $ 454.20 $ 535.80 $ 395.10 S 452.60 $ 382.80 S 423.20 $ 361.60 S 543.30 $ 337.10 S 436.10 $ 376.90 Accrued expenses and other liabilities 330.70 289.80 337.40 351.10 348.50 312.20 387.10 378.50 342.40 317.80 338.60 324.60 263.00 257.50 268.90 Deferred revenues and Income 294.50 292.80 284.60 401.00 332.90 311.20 293.20 414.80 370.10 359.80 347.50 449.20 400.30 405.10 400.90 Current maturities of corporate borrowings 103.20 86.20 89.10 87.70 86.60 B4.20 83.00 15.20 15.20 21.40 21.40 20.00 20.00 20.00 20.00 Current maturities of finance lease liabilities 11.60 10.90 10.00 10.30 10.20 10.00 10.50 Current maturities of operating lease liabilities 570.70 570.80 568.10 585.80 581.50 581.50 511.00 Current maturtles of capital and financing lease 57.00 Total current liabilities 1,238.80 1146.60 1180.20 1,409.40 1,222.20 1.243.40 1.158.40 1,328.10 1.692.80 1.713.90 1.647.20 1.933.20 1.612.10 1,711.20 1,588.20 Corporate borrowings 4,180.00 4249.10 4277.40 4.220.10 4.244.10 4.202.60 4,840.30 4.707.80 4.737.70 4.713.10 4,710.10 4,733.40 5,020.80 5.498.00 5,803 80 Capital and financing lease obligations 613.10 599.10 594.40 578.90 573.10 536.80 516.70 493.20 117.00 109.40 89.50 89.60 85.00 83.90 84.20 Operating lease liabilities 4,826.60 4.852.00 4,857.60 4.913.80 4,784.30 4.744.40 4,909.40 Exhibitor services agreement 553.30 545.90 538.40 530.90 575.00 571.40 567.70 564.00 561.60 557.70 553.80 549.70 550.40 546.30 542.00 Deferred tax liability 26.60 46.90 47.40 49.60 48.50 44.30 44.30 41.60 45.80 51.70 49.80 46.00 47.70 43.20 43.40 Other long-term liabilities 726.50 746.60 847.70 903.80 937.50 963.00 980.70 963.10 188.20 192.00 190.00 195.90 212.00 220.00 240.60 Total liabilities 7,338.30 7334,20 7485.50 7.692.70 7,600.40 7.551.50 8,108.10 8.097.80 12,169.70 12.189.80 12,098.00 12.451.60 12312.3 12.847.00 13,211.60 Stockholders' equity: Class A common stock ($.01 Par value) 1.10 0.50 0.50 0.50 0.50 0.50 0.50 0.50 0.50 0.50 0.50 0.50 0.50 0.50 Class B common stock (8.01 par value) 0.60 0.80 0.80 0.80 0.80 0.80 0.50 0.50 0.50 0.50 0.50 0.50 0.50 0.50 0.50 Additional paid-in capital 2.237.80 2240.30 2240.00 2 241.60 2,242.90 2 247.00 1,994.50 1998.40 2,001.70 2.006.80 2,008.90 2.001.00 2,003.60 2.007.30 2,125.00 Treasury stock (0.70) (0.70) (1720) (48.20 (48.20) (56.40) () (56.40) (56.40) (56.40) (56.40) (56.40) (56.40) (56.40) (56.40) (56.40) Accumulated other comprehensive income (loss) (4.40) 72.10 105.80 125.60 140.50 33.50 26.00 5.50 (19.40) ) (28.60) (96.70) (119.60) (63.60) (4,387.00) Accumulated earnings (deficit) 366.50 153.60 94.50 (207.90) (251.70) (255.50) (710.60) (550.90) (623.40) (597.70) (673.50) (705.20) (2.902.60) (3.453.70) (2,370.00) Total stockholders' equity 2.600.60 2476.70 2424.40 2.112.40 2,084.80 1.959.90 1,254.50 1,397.60 1,303.50 1,325.10 1,183.30 1.214.00 (1,074.00) (1.575.40) (1.575.40) (2.335.40) Total liabilities and stockholders' equity $ 9,940.00 S 9.811.70 $ 9,910.70 S 9.805.90 $ 9,685.70 S 9.531.80 $9,363.00 S 9.495.80 $13,473.20 $13.514.90 $13,281.30 $13.675.80 $11,238.30 $11.271.60 $10,876.20 0.60 Statement of Cash Flows Operating Cash Flow 12/31/2017 12/31/2018 558,700 523,200 12/31/2019 579,000 TTM* (402,800) Net Income from Continuing Operations Operating Gains Losses Gain Loss On Sale of Business Gain Loss On Investment Securities Earnings Losses from Equity Investments Pension And Employee Benefit Expense Depreciation Amortization Depletion Deferred Tax Asset Impairment Charge Stock based compensation Other non-cash items Change in working capital Change in Receivables Change in Payables And Accrued Expense Change in Payable Change in Accrued Expense Change in Other Current Assets Cash Flow from Continuing Operating Activities (487,200) (2,500) 5,400 (2,600) (3,900) 600 538,600 157,800 251,600 5,700 99,700 (5,000) (36,600) 13,300 34,700 (21,400) 18,300 558,700 110,100 (184,100) (30,600) (111,400) (40,000) 1,100 537,800 (6,400) 29,800 14,900 38,800 (17,700) (200) (17,100) (85,600) 68,500 (400) 523,200 (149,100) (3,656,800) (2,200) 168,300 0 (5,800) 118,600 2,700 53,200 1,700 1,200 450,000 478,600 (33,700) 24,500 84,300 2,132,100 4,400 2,400 89,500 117,700 135,800 330,400 700 72,200 104,200 156,800 104,800 84,800 72,000 30,900 101,400 579,000 (402,800) (600) Investing Cash Flow (965,200) (317,200) (516,100) (322,500) (325,900) (9,500) 0 Capital Expenditure Reported Net Business Purchase And Sale Purchase of Business Sale of Business Net Other Investing Changes Cash Flow from Continuing Investing Activities (626,800) (496,400) (583,500) 98,200 158,000 (965,200) (576,300) 196,900 0 208,300 62,200 (317,200) (518,100) (21,500) (11,800) 0 23.500 (516,100) 12.900 (322,500) Financing Cash Flow 492,300 (194,800) (112,900) 1,042,500 525,900 525,900 (15,600) (15,600) 1,043,600 1,043,600 0 0 0 2.800 Net Issuance Payments of Debt Net Long Term Debt Issuance Net Short Term Debt Issuance Common Stock Issuance Common Stock Payments Cash Dividends Paid Common Stock Dividend Paid Net Other Financing Charges Cash Flow from Continuing Financing Activities 54,200 54,200 0 616,800 (34,000) (104,600) (104,600) (40,100) 492,300 0 (445,400) (258,100) (258,100) (17,200) (194,800) (84, 100) (84,100) (13,200) (112,900) (25,000) (25,000) 21,100 1,042,500 310,000 End Cash Position Changes in Cash 324,000 11,200 275,500 (50,000) 427,800 317,200 85,800 *Trailing 12 months
