AMC ENTERTAINMENT HOLDINGS, INC. AMC Cash Flow

Amc entertainment holdings, inc. (AMC)

CashFlow / Quarterly

Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12
Cash flows from operating activities:
Net earnings (loss)
-13,500	-54,800	49,400	-130,200	170,600	-100,400	22,200	17,700	-276,400	-42,700	-176,500	8,400	29,000	30,400	24,000	28,300	41,661	12,178	43,923	6,138	29,819	7,376	31,393	-4,508	279,617	33,465	61,576	-10,258	-42,670
Adjustments to reconcile net earnings (loss) to net cash provided by operating activities:
Depreciation and amortization
112,900	112,100	112,000	113,000	139,400	130,200	137,700	130,500	144,700	135,300	133,300	125,300	82,400	63,100	62,300	60,400	59,966	58,008	57,249	57,777	55,467	54,327	51,750	54,777	50,102	48,603	50,370	48,462	71,633
Loss on NCM charged to merger, acquisition and transaction costs
-	-	-	-	-	-	-	-	0	0	0	22,600	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss on extinguishment of debt
-	-	-	-	-	-	-	-	0	0	0	-500	-	-	-	-	-	-	-	-	0	0	4,161	4,383	-	-	-	-	-
Deferred income taxes
-40,700	-1,900	4,800	4,100	-2,900	-1,500	-3,500	1,500	295,700	-19,600	-109,500	-8,800	-11,500	16,800	12,600	16,200	33,929	-10,953	25,099	3,525	12,765	4,225	18,330	-2,890	-275,028	2,800	2,830	2,800	3,020
Impairment of long-lived assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Amortization of net discount (premium) on corporate borrowings
3,200	3,100	2,800	2,200	2,300	-400	-800	-900	-800	-800	-800	-300	0	100	0	100	126	14	2,226	-1,566	1,622	-1,528	2,130	-1,392	-	-	-	-	-3,219
Amortization of deferred charges to interest expense
4,000	4,000	3,400	4,400	4,500	4,000	3,700	3,800	3,500	3,600	3,200	2,400	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Theatre and other closure expense
-	-	-	-	-	-	-	-	-	600	-800	-900	-1,600	-1,000	-1,100	-1,500	-1,089	-1,600	-3,438	1,127	-17,570	1,361	5,498	1,365	1,334	1,469	1,582	1,438	2,381
Non-cash portion of stock-based compensation
-7,100	2,100	5,400	4,000	4,000	4,100	4,000	2,800	1,800	-100	3,900	100	400	1,700	1,700	1,100	1,123	2,199	1,439	5,739	5,221	-1,596	1,311	6,357	-	-	-	-	-
Gain on dispositions
1,400	0	3,100	12,900	300	100	1,600	1,200	-2,000	900	3,400	200	-300	-300	0	3,000	-	-	-	-	230	-69	9	460	-1,669	-220	-226	4,991	-73
(Gain) loss on disposition
-	-	-	-	-	28,900	2,200	-1,100	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss on derivative liability
-	-	-	28,400	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayment of Nordic interest rate swaps
-	-	-	-	-	-	-	-	-100	0	0	2,700	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Equity in (earnings) loss from non-consolidated entities, net of distributions
-	-	-	-	7,600	37,800	5,900	-11,300	3,800	14,000	7,300	-21,200	1,700	8,600	11,300	-6,200	7,039	2,294	8,077	-7,810	-1,485	7,947	7,805	-14,165	-1,409	6,103	20,745	-5,828	-12,707
NCM held-for-sale impairment loss
-	-	-	-	0	0	0	16,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Landlord contributions
17,500	24,200	29,600	35,200	27,500	27,800	30,200	42,100	56,900	33,600	17,800	25,000	47,800	29,500	27,500	20,300	40,076	19,507	34,708	-10,991	104,706	-24,693	-9,201	-11,294	-	-	-	-	-3,597
Non-cash rent - purchase accounting
6,200	6,100	5,800	7,600	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred rent
17,000	15,900	11,300	18,100	20,300	16,600	25,400	39,300	17,700	12,700	12,300	10,200	10,300	8,400	7,900	7,100	6,228	6,052	6,701	5,519	-	-	-	-	-	-	-	-	-
Net periodic benefit cost
400	700	500	100	600	400	-100	200	0	300	200	100	100	200	200	200	-111	-86	-86	-17,917	-854	-855	-854	-855	-	-	-	-	-
Change in assets and liabilities, excluding acquisitions:
Receivables
93,100	-61,800	36,300	-68,300	117,300	-34,800	31,700	-114,000	141,100	-25,900	19,200	-97,800	108,400	-13,200	5,500	-44,000	53,932	-19,362	19,773	-52,943	61,301	-15,467	10,393	-56,535	59,356	-27,444	12,778	-41,325	66,615
Other assets
-34,100	21,800	-4,100	-14,500	9,300	-15,600	3,400	3,300	1,700	-3,200	-4,400	10,700	29,400	-3,300	1,300	1,700	3,005	-8,831	6,349	2,277	4,336	-1,839	-459	2,244	6,870	-3,419	2,966	2,498	35,138
Accounts payable
206,000	-65,500	41,000	-76,700	105,400	-149,000	65,100	-107,100	151,000	-18,300	-28,100	-69,900	138,400	-70,000	34,600	-81,500	111,144	-75,598	64,752	-58,998	77,573	-68,514	28,959	-51,710	88,905	-62,828	43,035	-4,897	69,029
Accrued expenses and other liabilities
54,800	8,600	-16,000	-48,000	82,000	65,500	-50,700	-28,300	50,500	33,900	-76,400	-29,400	68,800	4,500	-28,500	-63,200	33,577	-10,808	3,023	-34,492	45,682	-10,220	-12,862	-75,203	59,050	16,421	-22,145	-38,504	63,288
Other, net
4,300	1,000	7,700	-5,500	1,900	100	5,900	-4,500	3,300	19,900	-11,300	-400	-5,100	1,000	1,000	-1,100	-680	-402	-436	3,718	556	1,370	158	-772	1,258	-12,741	9,741	2,823	1,294
Net cash provided by operating activities
368,800	56,600	152,200	1,400	224,400	1,700	131,700	165,400	307,800	111,200	-54,100	172,500	220,400	77,300	111,100	22,900	258,275	16,310	171,352	21,563	178,712	12,342	107,823	-1,575	152,677	71,161	97,622	35,882	73,892
Cash flows from investing activities:
Capital expenditures
169,900	118,300	115,100	114,800	201,400	133,800	133,800	107,300	159,100	149,700	156,700	161,300	165,100	116,300	82,600	57,700	117,826	71,817	74,167	69,590	87,766	67,760	59,609	55,599	85,462	70,666	65,345	39,350	72,774
Acquisition of Nordic Cinemas Group, net of cash and restricted cash acquired
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-3,110
Acquisition of Rave theatres, net of cash accquired
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	813	315	87,555
Proceeds from disposition of long-term assets
1,800	100	4,000	17,300	300	400	9,700	3,800	1,600	100	18,400	4,000	500	500	13,500	5,400	-	-	-	-	229	0	137	-128	-766	-220	-125	4,991	90
Investments in non-consolidated entities, net
200	9,400	200	-100	400	300	21,400	-10,700	21,100	-10,700	1,000	-300	-	-	-	-	-	766	40	152	51	411	339	721	252	247	95	2,671	1,194
Other, net
-600	-500	-100	900	1,400	300	-200	600	-1,300	800	1,200	1,600	5,200	1,100	500	-300	642	243	-721	1,636	612	601	-3,323	1,783	2,026	745	3,721	956	575
Net cash used in investing activities
-167,700	-127,100	-122,800	-98,500	-202,900	67,200	-66,700	-114,800	-150,000	65,900	-131,700	-743,500	-1,083,200	-120,300	-76,400	-51,600	-292,314	-72,826	-72,882	-71,378	-88,200	-68,772	-56,488	-58,231	-88,506	-71,878	-70,099	-38,301	-158,898
Cash flows from financing activities:
Proceeds from issuance of Senior Subordinated Notes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	375,000	-	-	-	-	-
Net proceeds from equity offering
-	-	-	-	-	-	-	-	0	0	-700	617,500	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Borrowings (repayments) under revolving credit facilities
-10,300	10,300	-8,200	-3,800	-	-	-	-	-	-	-	-	-20,000	20,000	-25,000	-50,000	-	-	-	-	-	-	-	-	-	-	-	-	-
Principal payments under Term Loan
5,000	5,000	8,500	3,400	3,500	3,400	3,400	3,500	3,500	3,400	3,500	2,200	2,200	2,200	2,200	2,200	-13	1,938	1,937	1,938	1,937	1,938	1,937	1,938	1,937	1,937	1,938	2,001	4,002
Payments of Senior Subordinated Notes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	496,903	-	-	-	-	-
Payments of Stock Issuance Costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	281	-	-	-	-	-
Principal payment of Loan
-	-	-	-	-	-	-	-	-	0	0	350,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Principal payments under capital and financing lease obligations
2,400	2,400	2,300	3,800	17,500	17,600	18,000	17,900	16,600	17,300	17,100	19,700	4,500	2,100	2,100	2,100	1,989	1,985	1,940	1,886	1,797	1,756	1,716	1,672	1,795	1,587	1,553	1,511	875
Capital contribution from Wanda
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	100,000
Cash used to pay for deferred financing costs
-	-	-	-	-	-	-	-	3,800	300	2,000	27,500	65,100	0	300	500	-	-	-	-	0	78	306	7,568	-423	1,438	7,936	175	-
Payment of construction payables
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-1,137	20,541	-22,487
Cash used to pay dividends
20,700	20,800	20,800	21,800	20,700	186,000	25,600	25,800	25,900	26,200	26,300	26,200	20,500	19,700	19,600	19,800	19,588	19,711	19,480	19,821	-	-	-	-	-	-	-	-	-
Taxes paid for restricted unit withholdings
0	0	200	1,100	0	0	0	1,700	0	0	0	6,500	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchase of treasury stock
-	-	-	-	0	2,000	6,300	13,500	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash provided by (used in) financing activities
-40,000	-18,400	-20,600	-33,900	-39,500	-37,400	-55,500	-62,400	-128,700	-53,700	400	674,300	1,046,000	-4,000	-49,200	-74,600	147,385	-24,603	-63,837	-23,645	-27,799	-23,378	-169,325	-133,362	351,683	-4,962	2,435	-24,228	117,610
Effect of exchange rate changes on cash and cash equivalents and restricted cash
3,800	-1,700	-2,800	2,200	-2,300	-14,600	5,400	6,000	-2,200	8,100	8,900	2,900	-	-	-	-	-79	-282	-97	58	-13	9	18	-9	-28	0	-27	-48	-207
Net increase (decrease) in cash and cash equivalents and restricted cash
164,900	-90,600	6,000	-128,800	-20,300	16,900	14,900	-5,800	26,900	131,500	-176,500	106,200	183,900	-47,000	-14,600	-103,300	113,267	-81,401	34,536	-73,402	62,700	-79,799	-117,972	-193,177	415,826	-5,679	29,931	-26,695	32,397
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Cash paid during the period for:
Interest (including amounts capitalized of $1.0 million, $0.5 million and $0.3 million)
100,400	37,900	108,100	38,100	103,200	36,800	102,600	35,700	65,200	34,700	87,800	39,000	37,500	16,500	28,900	22,500	27,599	22,362	33,650	20,289	35,923	21,024	41,132	15,499	-	-	-	-	68,794
Income taxes (received) paid, net
-1,800	2,100	-4,500	2,500	9,600	1,500	3,900	4,500	1,300	3,100	5,500	1,000	100	500	3,300	800	6,328	102	-1,635	505	-806	15	566	1,309	-	-	-	-	10,088
Schedule of non-cash activities:
Investment in NCM (See Note 6-Investments)
-	300	-100	1,400	0	0	0	-6,300	0	0	0	235,200	-	-	-	-	69,288	0	0	6,812	0	0	0	2,137	-	-	-	-	-
NCM
Proceeds from disposition of NCM
-	-	-	-	-	-	-	3,800	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-