AMC Entertainment (AMC) 10-K 28 Feb 20 2019 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2019	Feb. 21, 2020	Jun. 30, 2018
Document Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Transition Report	false
Document Period End Date	Dec. 31, 2019
Entity File Number	001-33892
Entity Registrant Name	AMC ENTERTAINMENT HOLDINGS, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	26-0303916
Entity Address, Address Line One	One AMC Way
Entity Address, Address Line Two	11500 Ash Street
Entity Address, City or Town	Leawood
Entity Address, State or Province	KS
Entity Address, Postal Zip Code	66211
City Area Code	913
Local Phone Number	213-2000
Title of 12(b) Security	Class A common stock
Trading Symbol	AMC
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Public Float			$ 485,872,924
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY
Entity Central Index Key	0001411579
Amendment Flag	false
Class A common stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		52,472,503
Class B common stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		51,769,784

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Revenues
Revenue	$ 5,471	$ 5,460.8	$ 5,079.2
Operating costs and expenses
Operating expenses, excluding depreciation and amortization below	1,686.6	1,654.7	1,548
Rent	967.8	797.8	794.4
General and administrative:
Merger, acquisition and other costs	15.5	31.3	63
Other, excluding depreciation and amortization below	153	179.3	133.2
Depreciation and amortization	450	537.8	538.6
Impairment of long-lived assets	84.3	13.8	43.6
Operating costs and expenses	5,335	5,195.8	4,977.2
Operating income	136	265	102
Other expense (income):
Other expense (income)	13.4	(108.1)	(1.5)
Interest expense:
Corporate borrowings	292.8	262.3	231.6
Capital and financing lease obligations	7.6	38.5	42.4
Non-cash NCM exhibitor services agreement	40.4	41.5
Equity in (earnings) loss of non-consolidated entities	(30.6)	(86.7)	185.2
Investment income	(16)	(6.2)	(22.6)
Total other expense, net	307.6	141.3	435.1
Earnings (loss) before income taxes	(171.6)	123.7	(333.1)
Income tax provision (benefit)	(22.5)	13.6	154.1
Net earnings (loss)	$ (149.1)	$ 110.1	$ (487.2)
Earnings (loss) per share:
Basic	$ (1.44)	$ 0.91	$ (3.80)
Diluted	$ (1.44)	$ 0.41	$ (3.80)
Average shares outstanding:
Basic (in thousands)	103,832	120,621	128,246
Diluted (in thousands)	103,832	130,105	128,246
Admissions
Revenues
Revenue	$ 3,301.3	$ 3,385	$ 3,229.5
Operating costs and expenses
Operating costs and expenses	1,699.1	1,710.2	1,604.3
Food and beverage
Revenues
Revenue	1,719.6	1,671.5	1,548.4
Operating costs and expenses
Operating costs and expenses	278.7	270.9	252.1
Total other theatre
Revenues
Revenue	$ 450.1	$ 404.3	$ 301.3

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Comprehensive income
Net earnings (loss)	$ (13.5)	$ (54.8)	$ 49.4	$ (130.2)	$ 170.6	$ (100.4)	$ 22.2	$ 17.7	$ (149.1)	$ 110.1	$ (487.2)
Unrealized foreign currency translation adjustment, net of tax									(16.5)	(127.7)	131.7
Realized loss on foreign currency transactions reclassified into other expense, net of tax									0.5	1
Pension and other benefit adjustments:
Net gain (loss) arising during the period, net of tax									(15.5)	4.2	(3)
Marketable securities:
Unrealized net holding gain arising during the period, net of tax										0.2	0.7
Realized net gain reclassified into investment income, net of tax											(0.4)
Equity method investee's cash flow hedge:
Unrealized net holding gain (loss) arising during the period, net of tax									(0.1)	0.2
Realized net gain reclassified into equity in earnings of non-consolidated entities, net of tax										(2.2)	(0.9)
Other comprehensive income (loss):									(31.6)	(124.5)	128.1
Total comprehensive loss									$ (180.7)	$ (14.4)	$ (359.1)

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 265	$ 313.3
Restricted cash	10.5	10.7
Receivables, net	254.2	259.5
Other current assets	143.4	197.8
Total current assets	673.1	781.3
Property, net	2,649.2	3,039.6
Operating lease right-of-use assets, net	4,796
Intangible assets, net	195.3	352.1
Goodwill	4,789.1	4,788.7
Deferred tax asset, net	70.1	28.6
Other long-term assets	503	505.5
Total assets	13,675.8	9,495.8
Current liabilities:
Accounts payable	543.3	452.6
Accrued expenses and other liabilities	324.6	378.5
Deferred revenues and income	449.2	414.8
Current maturities of corporate borrowings	20	15.2
Current maturities of finance lease liabilities	10.3
Current maturities of operating lease liabilities	585.8
Current maturities of capital and financing lease obligations	20	67
Total current liabilities	1,933.2	1,328.1
Corporate borrowings	4,733.4	4,707.8
Finance lease liabilities	89.6	493.2
Operating lease liabilities	4,913.8
Exhibitor services agreement	549.7	564
Deferred tax liability, net	46	41.6
Other long-term liabilities	195.9	963.1
Total liabilities	12,461.6	8,097.8
Commitments and contingencies
Temporary Equity
Class A common stock (temporary equity) ($.01 par value, 0 shares issued; 0 shares outstanding as of December 31, 2019 and 75,712 shares issued; 38,943 shares outstanding as of December 31, 2018)		0.4
Stockholders' equity:
Additional paid-in capital	2,001.9	1,998.4
Treasury stock (3,732,625 shares as of December 31, 2019 and December 31, 2018, at cost)	(56.4)	(56.4)
Accumulated other comprehensive income (loss)	(26.1)	5.5
Accumulated deficit	(706.2)	(550.9)
Total stockholders' equity	1,214.2	1,397.6
Total liabilities and stockholders' equity	13,675.8	9,495.8
Class A common stock
Stockholders' equity:
Common stock value	0.5	0.5
Class B common stock
Stockholders' equity:
Common stock value	$ 0.5	$ 0.5

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2019	Dec. 31, 2018
Common stock (temporary equity), par value (in dollars per share)	$ 0.01	$ 0.01
Common stock (temporary equity), shares issued (in shares)	0	75,712
Common stock (temporary equity), shares outstanding (in shares)	0	38,943
Treasury stock, shares	3,732,625	3,732,625
Class A common stock
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, share authorized (in shares)	524,173,073	524,173,073
Common stock, shares issued (in shares)	55,812,702	55,401,325
Common stock, shares outstanding (in shares)	52,080,077	51,705,469
Class B common stock
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, share authorized (in shares)	51,769,784	51,769,784
Common stock, shares issued (in shares)	51,769,784	51,769,784
Common stock, shares outstanding (in shares)	51,769,784	51,769,784

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS kr in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Cash flows from operating activities:
Net earnings (loss)	$ (149.1)	$ 110.1	$ (487.2)
Adjustments to reconcile net earnings (loss) to net cash provided by operating activities:
Depreciation and amortization	450	537.8	538.6
Loss on NCM charged to merger, acquisition and transaction costs			22.6
Loss on extinguishment of debt	16.6		0.5
Deferred income taxes	(33.7)	(6.4)	157.8
Impairment of long-lived assets	84.3	13.8	43.6
Amortization of net discount (premium) on corporate borrowings	11.3	0.2	(2.7)
Amortization of deferred charges to interest expense	15.8	16	12.7
Non-cash portion of stock-based compensation	4.4	14.9	5.7
Gain on dispositions	(17.4)	(3.2)	(2.5)
Gain on derivative asset and derivative liability	(5.8)	(111.4)
Repayment of Nordic interest rate swaps			(2.6)
Equity in (earnings) loss from non-consolidated entities, net of distributions	2.7	(40)	(3.9)
NCM held-for-sale impairment loss		16	208
Landlord contributions	106.5	127.6	133.3
Non-cash rent - purchase accounting	25.7
Deferred rent	(62.3)	(101.6)	(52.9)
Net periodic benefit cost	1.7	1.1	0.6
Change in assets and liabilities, excluding acquisitions:
Receivables	0.7	(0.2)	(36.6)
Other assets	30.9	(0.4)	(4.8)
Accounts payable	104.8	(85.6)	34.7
Accrued expenses and other liabilities	(0.6)	68.5	(21.4)
Other, net	(7.5)	(3.4)	(11.5)
Net cash provided by operating activities	579	523.2	537.4
Cash flows from investing activities:
Capital expenditures	(518.1)	(576.3)	(626.8)
Acquisition of Nordic Cinemas Group, net of cash and restricted cash acquired	(11.8)
Proceeds from sale leaseback transaction		50.1	136.2
Proceeds from disposition of long-term assets	23.2	14.2	24.1
Investments in non-consolidated entities, net	(9.7)	(11.4)	(11.1)
Other, net	0.3	(2.1)	(2.3)
Net cash used in investing activities	(516.1)	(317.2)	(959.3)
Cash flows from financing activities:
Call premiums paid for Senior Secured Notes due 2023 and Senior Subordinated Notes due 2022	(15.9)
Proceeds from issuance of Senior Unsecured Convertible Notes		600
Net proceeds from equity offering			616.8
Borrowings (repayments) under revolving credit facilities	(12)	12.1
Principal payment of Bridge Loan due 2017			(350)
Payments for Loans	1.4	1.4	1.4
Principal payments under Term Loan	(21.9)	(13.8)	(12.6)
Principal payments under capital and financing lease obligations	(10.9)	(71)	(70.7)
Principal payments under promissory note	(1.4)	(1.4)	(1.4)
Cash used to pay for deferred financing costs	(11.9)	(15.5)	(33.6)
Cash used to pay dividends	(84.1)	(258.1)	(104.6)
Taxes paid for restricted unit withholdings	(1.3)	(1.7)	(6.5)
Retirement of Class B common stock		(423.6)
Purchase of treasury stock		(21.8)	(34)
Net cash provided by (used in) financing activities	(112.9)	(194.8)	492.3
Effect of exchange rate changes on cash and cash equivalents and restricted cash	1.5	(5.5)	17.7
Net increase (decrease) in cash and cash equivalents and restricted cash	(48.5)	5.7	88.1
Cash and cash equivalents, and restricted cash at beginning of period	324	318.3	230.2
Cash and cash equivalents, and restricted cash at end of period	275.5	324	318.3
Cash paid during the period for:
Interest (including amounts capitalized of $1.0 million, $0.5 million and $0.3 million)	284.5	278.3	226.7
Income taxes (received) paid, net	(1.7)	19.5	10.9
Schedule of non-cash activities:
Investment in NCM (See Note 6-Investments)		(6.3)	235.2
Construction payables at period end	97	100.8	82.7
Accrued treasury stock payable at period end			13.5
Senior Secured Credit Facility Term-Loan Due 2026
Cash flows from financing activities:
Proceeds from issuance of Term Loan Due 2026	1,990
Proceeds from issuance of Senior Unsecured Convertible Notes	1,990
Senior Secured Credit Facility Term Loans Due 2022 And 2023
Cash flows from financing activities:
Principal payments under Term Loan	(1,338.5)
6.0% Senior Secured Notes due 2023
Cash flows from financing activities:
Payments of Senior Subordinated Notes	(230)
5.875% Senior Subordinated Notes due 2022
Cash flows from financing activities:
Payments of Senior Subordinated Notes	$ (375)
6.375% Senior Subordinated Notes due 2024
Cash flows from financing activities:
Proceeds from issuance of Term Loan Due 2026			327.8
Proceeds from issuance of Senior Unsecured Convertible Notes		600
Proceeds from issuance of Senior Subordinated Notes			327.8
6.125% Senior Subordinated Notes due 2027
Cash flows from financing activities:
Proceeds from issuance of Senior Subordinated Notes			475
Proceeds from issuance of bridge loan due 2017			350
Term Loan Facility (SEK)
Cash flows from financing activities:
Proceeds from issuance of bridge loan due 2017			(144.4)
Principal payments under Term Loan			(144.4)
Term Loan facility (EUR)
Cash flows from financing activities:
Proceeds from issuance of bridge loan due 2017			(169.5)
Principal payments under Term Loan			(169.5)
Nordic
Cash flows from investing activities:
Acquisition of Nordic Cinemas Group, net of cash and restricted cash acquired			(577.6)
NCM
Adjustments to reconcile net earnings (loss) to net cash provided by operating activities:
(Gain) loss on disposition		(30.6)	22.6
Cash flows from investing activities:
Proceeds from disposition of NCM		162.5	89
NCM | Starplex Cinemas
Cash flows from investing activities:
Proceeds from disposition of NCM			89
Screenvision
Cash flows from investing activities:
Proceeds from disposition of NCM		$ 45.8
Open Road Films
Adjustments to reconcile net earnings (loss) to net cash provided by operating activities:
(Gain) loss on disposition			(17.2)
Cash flows from investing activities:
Proceeds from disposition of NCM			$ 9.2

CONSOLIDATED STATEMENTS OF CA_2

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
CONSOLIDATED STATEMENTS OF CASH FLOWS
Interest, capitalized	$ 1	$ 0.5	$ 0.3

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDER'S EQUITY - USD ($) $ in Millions	Class A common stockSpecial dividendsAccumulated Earnings (Deficit)	Class A common stockSpecial dividends	Class A common stockCommon Stock	Class A common stockAccumulated Earnings (Deficit)	Class A common stock	Class B common stockSpecial dividendsAccumulated Earnings (Deficit)	Class B common stockSpecial dividends	Class B common stockCommon Stock	Class B common stockAccumulated Earnings (Deficit)	Class B common stock	Additional Paid-in Capital	Treasury Stock	Accumulated Other Comprehensive Income (Loss)	Accumulated Earnings (Deficit)	Total
Balance at the beginning of the period at Dec. 31, 2016			$ 0.3					$ 0.8			$ 1,627.3	$ (0.7)	$ (2.5)	$ 384.4	$ 2,009.6
Balance (in shares) at Dec. 31, 2016			34,236,561					75,826,927
Increase (Decrease) in Stockholders' Equity
Net earnings (loss)														(487.2)	(487.2)
Other comprehensive income (loss)													128.1		128.1
Dividends declared				$ 44.4	$ 44.4				$ 60.7	$ 60.7
RSUs surrendered to pay for payroll taxes											$ (6.5)				(6.5)
Net proceeds from equity offering			$ 0.2												$ 616.8
Additional offering (in shares)			20,330,874								616,600,000				616,800,000
Value of shares issued for stock based compensation											$ 3.9
Stock based compensation (in shares)			415,528												3,900,000
Purchase shares for treasury												(47.5)			$ (47.5)
Reclassification from temporary equity (in shares)			27,197								300,000				300,000
Balance at the end of the period at Dec. 31, 2017			$ 0.5					$ 0.8			$ 2,241.6	(48.2)	125.6	(207.9)	$ 2,112.4
Balance (in shares) at Dec. 31, 2017			55,010,160					75,826,927
Increase (Decrease) in Stockholders' Equity
Net earnings (loss)														110.1	110.1
Other comprehensive income (loss)													(124.5)		(124.5)
Dividends declared	$ 82.7	$ 82.7		42.9	42.9	$ 80.3	$ 80.3		55.9	$ 55.9
Reversed dividend accrual for nonvested PSU's														0.5	0.5
RSUs surrendered to pay for payroll taxes											(1.8)				(1.8)
RSUs surrendered to pay for payroll taxes (in shares)			326,005
Value of shares issued for stock based compensation											14.9				14.9
Stock based compensation (in shares)			28,055
Purchase shares for treasury					$ (47.5)							(8.2)			(8.2)
Reclassification from temporary equity											0.4				0.4
Reclassification from temporary equity (in shares)			37,105
Common stock repurchase and cancellation								$ (0.3)			(256.7)			(155.6)	(412.6)
Common stock repurchased and cancellation (in shares)								(24,057,143)
Balance at the end of the period at Dec. 31, 2018			$ 0.5					$ 0.5			1,998.4	(56.4)	5.5	(550.9)	1,397.6
Balance (in shares) at Dec. 31, 2018			55,401,325		51,705,469			51,769,784		51,769,784
Increase (Decrease) in Stockholders' Equity
Cumulative effect adjustments for the adoption of new accounting principles													4.4	(36.2)	(31.8)
Net earnings (loss)														(149.1)	(149.1)
Other comprehensive income (loss)													(31.6)		(31.6)
Dividends declared				$ 40.8	$ 40.8				$ 41.6	$ 41.6
RSUs surrendered to pay for payroll taxes											(1.3)				(1.3)
Value of shares issued for stock based compensation											4.4				4.4
Stock based compensation (in shares)			335,665
Adoption of ASU No. 2016-09														76.2	76.2
Purchase shares for treasury					$ (8.2)
Reclassification from temporary equity											0.4				0.4
Reclassification from temporary equity (in shares)			75,712
Balance at the end of the period at Dec. 31, 2019			$ 0.5					$ 0.5			$ 2,001.9	$ (56.4)	$ (26.1)	$ (706.2)	$ 1,214.2
Balance (in shares) at Dec. 31, 2019			55,812,702		52,080,077			51,769,784		51,769,784

CONSOLIDATED STATEMENTS OF ST_2

CONSOLIDATED STATEMENTS OF STOCKHOLDER'S EQUITY (Parenthetical)	12 Months Ended
	Dec. 31, 2018$ / shares
Class A common stock
Cash dividend declared (in dollars per share)	$ 0.20
Class A common stock | Special dividends
Cash dividend declared (in dollars per share)	1.55
Class B common stock
Cash dividend declared (in dollars per share)	0.20
Class B common stock | Special dividends
Cash dividend declared (in dollars per share)	$ 1.55

THE COMPANY AND SIGNIFICANT ACC

THE COMPANY AND SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2019
THE COMPANY AND SIGNIFICANT ACCOUNTING POLICIES
THE COMPANY AND SIGNIFICANT ACCOUNTING POLICIES	NOTE 1—THE COMPANY AND SIGNIFICANT ACCOUNTING POLICIES ​ AMC Entertainment Holdings, Inc. (“Holdings”), through its direct and indirect subsidiaries, including American Multi-Cinema, Inc. and its subsidiaries, (collectively with Holdings, unless the context otherwise requires, the “Company” or “AMC”), is principally involved in the theatrical exhibition business and owns, operates or has interests in theatres located in the United States and Europe. Holdings is an indirect subsidiary of Dalian Wanda Group Co., Ltd. (“Wanda”), a Chinese private conglomerate. As of December 31, 2019, Wanda owned approximately 49.85% of Holdings’ outstanding common stock and 74.89% of the combined voting power of Holdings’ outstanding common stock and has the power to control Holdings’ affairs and policies, including with respect to the election of directors (and, through the election of directors, the appointment of management), entering into mergers, sales of substantially all of the Company’s assets and other extraordinary transactions. Use of Estimates. The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Principles of Consolidation. The consolidated financial statements include the accounts of Holdings and all subsidiaries, as discussed above. All significant intercompany balances and transactions have been eliminated in consolidation. There are no noncontrolling interests in the Company’s consolidated subsidiaries; consequently, all of its stockholders’ equity, net earnings (loss) and comprehensive income (loss) for the periods presented are attributable to controlling interests. The Company manages its business under two reportable segments for its theatrical exhibition operations, U.S. Theatres and International Theatres. Revenues. The Company recognizes income from non-redeemed or partially redeemed gift cards in proportion to the pattern of rights exercised by the customer (“proportional method”) where it applies an estimated non-redemption rate for its gift card sales channels, which range from 12% to 18% of the current month sales of gift cards, and the Company recognizes in other theatre revenues the total amount of expected income for non-redemption for that current month’s sales as income over the next 24 months in proportion to the pattern of actual redemptions. The Company has determined its non-redeemed rates and redemption patterns using data accumulated over ten years. Prior to January 1, 2018, income for non-redeemed exchange tickets were recognized 18 months after purchase when the redemption of these items was determined to be remote. At January 1, 2018, the Company changed its method for recognizing income from non-redeemed exchange tickets to the proportional method, where it applies a non-redemption rate of 10% to the current month sales, and the Company recognizes the total amount of income for that current month’s sales as income over the next 24 months in proportion to the pattern of actual redemptions. Management believes the 24-month Prior to January 1, 2018, the Company recorded online ticket fee revenues net of third-party commission or service fees. In accordance with ASC 606 guidance, the Company believes that it is a principal (as opposed to agent) in the arrangement with third-party internet ticketing companies in regard to the sale of online tickets because the Company controls the online tickets before they are transferred to the customer. Upon adoption of ASC 606 on January 1, 2018, the Company recognizes ticket fee revenues based on a gross transaction price. The online ticket fee revenues and the third-party commission or service fees are recorded in the line items other theatre revenues and operating expense, respectively, in the consolidated statements of operations. These changes did not have any impact on net income or cash flows from operations. Film Exhibition Costs. Film exhibition costs are accrued based on the applicable box office receipts and estimates of the final settlement to the film licensors. Film exhibition costs include certain advertising costs. As of December 31, 2019 and December 31, 2018, the Company recorded film payables of $166.5 million and $168.6 million, respectively, which are included in accounts payable in the accompanying consolidated balance sheets. Food and Beverage Costs. The Company records rebate payments from vendors as a reduction of food and beverage costs when earned. Exhibitor Services Agreement. — Customer Engagement Programs. AMC Stubs ® TM ® TM TM TM The portion of the admissions and food and beverage revenues attributed to the rewards is deferred as a reduction of admissions and food and beverage revenues and is allocated between admissions and food and beverage revenues based on expected member redemptions. Upon redemption, deferred rewards are recognized as revenues along with associated cost of goods. Converted rewards not redeemed within nine months are forfeited and recognized as admissions or food and beverage revenues. Prior to January 1, 2018, rewards for expired memberships were forfeited based upon specified periods of inactivity of the membership and recognized as admissions or food and beverage revenues. As of January 1, 2018, the Company changed its method for recognizing forfeited rewards from the remote method to the proportional method, where the Company estimates point breakage in assigning value to the points at the time of sale based on historical trends. The program’s annual membership fee is allocated to the material rights for discounted or free products and services and is initially deferred, net of estimated refunds, and recognized as the rights are redeemed based on estimated utilization, over the one-year membership period in admissions, food and beverage, and other revenues. A portion of the revenues related to a material right are deferred as a virtual rewards performance obligation using the relative standalone selling price method and are recognized as the rights are redeemed or expire. On June 20, 2018, the Company announced the launch of AMC Stubs ® ® of between $19.95 and $23.95 depending upon geographic market. Revenue is recognized ratably over the enrollment period. Advertising Costs. The Company expenses advertising costs as incurred and does not have any direct-response advertising recorded as assets. Advertising costs were $42.6 million, $45.4 million, and $39.9 million for the years ended December 31, 2019, December 31, 2018, and December 31, 2017, respectively, and are recorded in operating expense in the accompanying consolidated statements of operations. Cash and Equivalents. All highly liquid debt instruments and investments purchased with an original maturity of three months or less are classified as cash equivalents. Derivative Asset and Liability. — — — Intangible Assets. Intangible assets were recorded at fair value for intangible assets resulting from the acquisition of Holdings by Wanda on August 30, 2012 and other theatre acquisitions. Intangible assets are comprised of amounts assigned to theatre leases acquired under favorable terms, management contracts, a contract with an equity method investee, and a non-compete agreement, each of which are being amortized on a straight-line basis over the estimated remaining useful lives of the assets. Favorable leases that were previously classified as intangible assets were reclassified as an addition to the opening right-of-use (“ROU”) asset balances, as a result of adopting The Company first assesses the qualitative factors to determine whether the existence of events and circumstances indicate that it is more likely than not the fair value of an indefinite-lived intangible asset is less than its carrying amount as a basis for determining whether it is necessary to perform the quantitative impairment test. As a result, there were no Investments. The Company accounts for its investments in non-consolidated entities using either the cost or equity methods of accounting as appropriate, and has recorded the investments within other long-term assets in its consolidated balance sheets. Equity earnings and losses are recorded when the Company’s ownership interest provides the Company with significant influence. The Company follows the guidance in ASC 323-30-35-3, investment in a limited liability company, which prescribes the use of the equity method for investments where the Company has significant influence. The Company classifies gains and losses on sales of investments or impairments accounted for using the cost method in investment income. Gains and losses on cash sales are recorded using the weighted average cost of all interests in the investments. Gains and losses related to non-cash negative common unit adjustments are recorded using the weighted average cost of those units in NCM. See Note 6 — ownership interest in four U.S. motion picture theatres and approximately 50% ownership interest in 55 theatres in Europe. Indebtedness held by equity method investees is non-recourse to the Company. Goodwill. Goodwill represents the excess of purchase price over fair value of net tangible and identifiable intangible assets related to the acquisition of Holdings by Wanda on August 30, 2012 and subsequent theatre business acquisitions. Prior to January 1, 2019, the Company had three reporting units, Domestic Theatres, Odeon Theatres and Nordic Theatres. Effective January 1, 2019, the Company combined the Odeon Theatres and Nordic Theatres into a single reporting unit, International Theatres, to reflect how the international business is now managed. The Company tested goodwill for impairment both prior to and subsequent to the combining of these reporting units into the single reporting unit. The Company’s recorded goodwill was $4,789.1 million and $4,788.7 million as of December 31, 2019 and December 31, 2018, respectively. The Company evaluates goodwill and its indefinite-lived trademark and trade names for impairment annually as of the beginning of the fourth quarter and any time an event occurs or circumstances change that would more likely than not reduce the fair value for a reporting unit below its carrying amount. A decline in the common stock price and the resulting impact on market capitalization is one of several factors considered when making this evaluation. Based on recent sustained declines in the trading price of the Company’s Class A common stock, the Company performed a quantitative goodwill impairment test of the Domestic and International reporting units as of September 30, 2019. In performing the annual impairment test, the Company has an option to first assess the qualitative factors to determine whether it is more likely than not that the fair value of its reporting units are less than the carrying values. Otherwise, the Company must perform a quantitative impairment test. The impairment test for goodwill involves estimating the fair value of the reporting unit and comparing that value to its carrying value. If the estimated fair value of the reporting unit is less than its carrying value, the difference is recorded as goodwill impairment charge, not to exceed the total amount of goodwill allocated to that reporting unit. In performing the quantitative goodwill impairment test as of September 30, 2019, the Company used an enterprise value approach to measure fair value of the reporting units, as compared to an equity value approach used previously. This change in estimate is preferable due to the impact of the change in the capital structure of the Domestic Theatres reporting unit late in the third quarter of 2018 as a result of the issuance of $600 million of the Company’s Senior Unsecured Notes due 2024, the negative equity value carrying amount for the Domestic Theatres reporting unit, and the decline in the market capitalization since May 2019, which has increased the Company’s leverage ratio. See additional discussion in Note 6 — The enterprise fair values of the Domestic Theatres and International Theatres reporting units exceeded their carrying values by approximately 9.9% and 11.8%, respectively. Accordingly, there was no goodwill impairment recorded as of September 30, 2019. In accordance with ASC 350-20-35-30, goodwill of a reporting unit shall be tested for impairment between annual tests if an event occurs or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying amount. The Company performed an assessment to determine whether there were any events or changes in circumstances that would warrant an interim ASC 350 impairment analysis as of December 31, 2019. Given the further decline in the Company’s stock price during the fourth quarter of 2019, the Company performed a qualitative impairment test to evaluate whether it is more likely than not that the fair value of its two reporting units are less than their respective carrying amounts as of December 31, 2019. The Company compared its projected financial information and assumptions utilized in the quantitative analysis as of September 30, 2019 to the fourth quarter results noting operating performance is consistent with the projections and there have been no other changes which would impact management’s conclusion that the fair values of its reporting units exceed their carrying values. The Company also observed that its estimated fair value of its corporate borrowings and finance lease obligations remained relatively consistent from September 30, 2019 to December 31, 2019, which represents approximately 80% of the Company’s market enterprise value. The Company observed higher enterprise value control premiums for a recent acquisition agreement in its industry than those utilized for the market approach. In considering the totality of the aforementioned factors together with the excess of fair value over carrying value calculated in both its reporting units in the previous impairment test, the Company has concluded that it is not more likely than not that the fair values of its two reporting units have been reduced below their respective carrying amounts. As a result, the Company concluded that an interim quantitative impairment test as of December 31, 2019 was not required. The Domestic Theatres reporting unit to which $3.1 billion of goodwill is allocated had a negative equity value carrying amount as of December 31, 2019. As of December 31, 2018, the Company assessed qualitative factors for both of its reporting units and reached a determination that it is not more likely than not that the fair value of the Company’s reporting units are less than their carrying values, and therefore impairment analysis during the fourth quarter of calendar 2018 and the third quarter and fourth quarter of calendar 2017. In all of these impairment tests, the Company reached a determination that there was no goodwill impairment. Other Long-term Assets. Other long-term assets are comprised principally of investments in partnerships and joint ventures, costs incurred in connection with the Company’s line-of-credit revolving credit arrangement, which is being amortized to interest expense using the effective interest rate method over the respective life of the issuance, and capitalized computer software, which is amortized over the estimated useful life of the software. See Note 7 — Accounts Payable. Under the Company’s cash management system, checks issued but not presented to banks frequently result in book overdraft balances for accounting purposes and are classified within accounts payable in the balance sheet. The change in book overdrafts are reported as a component of operating cash flows for accounts payable as they do not represent bank overdrafts. The amount of these checks included in accounts payable as of December 31, 2019 and December 31, 2018 was $40.9 million and $42.6 million, respectively. Leases. The The Company leases theatres and equipment under operating and finance leases. The majority of the Company’s operations are conducted in premises occupied under lease agreements with initial base terms ranging generally from 12 20 years Operating lease right-of-use assets and lease liabilities were recognized at commencement date based on the present value of minimum lease payments over the remaining lease term. The minimum lease payments include base rent and other fixed payments, including fixed maintenance costs. The Company’s leases have remaining lease terms of approximately 1 year to 25 years, which may include the option to extend the lease when it is reasonably certain the Company will exercise that option. The present value of the lease payments is calculated using the incremental borrowing rate for operating leases, which was determined using a portfolio approach based on the rate of interest that the Company would have to pay to borrow an amount equal to the lease payments on a collateralized basis over a similar term. Operating lease expense is recognized on a straight-line basis over the lease term. The Company elected the practical expedient to not separate lease and non-lease components and also elected the short-term practical expedient for all leases that qualify. As a result, the Company will not recognize right-of-use assets or liabilities for short-term leases that qualify for the short-term practical expedient, but instead will recognize the lease payments as lease cost on a straight-line basis over the lease term. The Company’s lease agreements do not contain residual value guarantees. Short-term leases and sublease arrangements are immaterial. Equipment leases primarily consist of digital projectors and food and beverage equipment. As a result of adopting ASC 842, the Company’s consolidated balance sheet includes additional operating lease ROU assets and total operating lease liabilities of $4,796.0 million and $5,499.6 million, respectively, at December 31, 2019. The difference between the lease ROU assets and total lease liabilities upon initial measurement at January 1, 2019 was primarily due to the reclassification of: (i) deferred rent, landlord allowances, unfavorable lease balances, and theatre closure liabilities previously recorded in other long-term liabilities; (ii) current portions of theatre closure liabilities previously recorded in accrued expenses and other liabilities; (iii) favorable lease balances previously recorded in intangible assets; and, (iv) prepaid rents recorded in other current assets within the consolidated balance sheets as an offset or addition to the opening lease ROU asset balances, as required by ASC 842. Sale Leaseback Transactions. Prior to adopting ASC 842 on January 1, 2019, the Company deferred gains on sale leaseback transactions and amortized the gains over the remaining lease term. Losses on sale leaseback transactions were recognized at the time of sale if the fair value of the property sold is less than the net book value of the property. On June 18, 2018, the Company completed the sale leaseback of the real estate assets associated with one theatre for proceeds, net of closing costs, of $50.1 million and the deferred gain on the sale was approximately $27.3 million. On September 14, 2017, the Company completed the sale leaseback of the real estate assets associated with seven theatres for proceeds net of closing costs of $128.4 million and the deferred gain on sale was approximately $78.2 Impairment of Long-lived Assets. The Company reviews long-lived assets, including definite-lived intangibles and theatre assets (including operating lease right-of-use assets) whenever events or changes in circumstances indicate that the carrying amount of the asset group may not be fully recoverable. The Company identifies impairments related to internal use software when management determines that the remaining carrying value of the software will not be realized through future use. The Company evaluates events or circumstances, including competition in the markets where it operates, that would indicate the carrying value of theatre assets may not be fully recoverable. If an event or circumstance is identified indicating carrying value may not be recoverable, the sum of future undiscounted cash flows is compared to the carrying value. If the carrying value exceeds the future undiscounted cash flows, the carrying value of the asset is reduced to fair value, with the difference recognized as an impairment charge. Assets are evaluated for impairment on an individual theatre basis, which management believes is the lowest level for which there are identifiable cash flows. The Company evaluates theatres using historical and projected data of theatre level cash flow as its primary indicator of potential impairment and considers the seasonality of its business when making these evaluations. The fair value of assets is determined as either the expected selling price less selling costs (where appropriate) or the present value of the estimated future cash flows, adjusted as necessary for market participant factors. There is considerable management judgment necessary to determine the estimated future cash flows and fair values of the Company’s theatres and other long-lived assets, and, accordingly, actual results could vary significantly from such estimates, which fall under Level 3 within the fair value measurement hierarchy, see Note 12 — The following table summarizes the Company’s assets that were impaired: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended ​ ​ ​ December 31, ​ December 31, ​ December 31, ​ (In millions) 2019 2018 2017 Impairment of long-lived assets ​ $ 84.3 ​ $ 13.8 ​ $ 43.6 ​ Investment expense ​ ​ 3.6 ​ ​ — ​ ​ — ​ Total impairment loss ​ $ 87.9 ​ $ 13.8 ​ $ 43.6 ​ ​ During calendar 2019, the Company recorded an impairment of long-lived assets loss of $84.3 million on 40 theatres in the U.S. markets with 512 screens and 14 theatres with 148 screens in the International markets, which was related to property held and used, operating lease right-of-use assets, and a U.S. property held and not used in other long-term assets. In addition, the Company recorded an impairment loss of $3.6 million within investment expense (income), related to an equity interest investment without a readily determinable fair value accounted for under the cost method. During calendar 2018, the Company recorded an impairment of long-lived assets loss of $13.8 million on 13 theatres in the U.S. markets with 150 screens and 15 theatres with 118 screens in the International markets which was related to property held and used. During calendar 2017, the Company recorded an impairment of long-lived assets loss of $43.6 million on 12 theatres in the U.S. markets with 179 screens which was related to property held and used. Foreign Currency Translation. Operations outside the United States are generally measured using the local currency as the functional currency. Assets and liabilities are translated at the rates of exchange at the balance sheet date. Income and expense items are translated at average rates of exchange. The resultant translation adjustments are included in foreign currency translation adjustment, a separate component of accumulated other comprehensive income (loss). Gains and losses from foreign currency transactions, except those intercompany transactions of a long-term investment nature, and the Company’s £500.0 million, 6.375% Senior Subordinated Notes due 2024, which have been designated as a non-derivative net investment hedge of the Company’s investment in Odeon and UCI Cinemas Holdings Limited (“Odeon”) are not included in net earnings. If the Company substantially liquidates its investment in a foreign entity, any gain or loss on currency translation balance recorded in accumulated other comprehensive loss is recognized as part of a gain or loss on disposition. Employee Benefit Plans. The Company sponsors frozen non-contributory qualified and non-qualified defined benefit pension plans in the U.S., frozen defined benefit pension plans in the U.K., and a defined benefit pension plan in Sweden that is not frozen. The Company also sponsors a postretirement deferred compensation plan and a defined contribution plan. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Pension Benefits ​ International Pension Benefits ​ ​ Year Ended ​ Year Ended (In millions) December 31, 2019 December 31, 2018 December 31, 2019 December 31, 2018 Aggregated projected benefit obligation at end of period (1) ​ $ (115.9) ​ $ (101.1) ​ $ (120.5) ​ $ (98.6) Aggregated fair value of plan assets at end of period ​ 76.3 ​ 63.2 ​ 119.4 ​ 107.2 Net (liability) asset for benefit cost - funded status ​ $ (39.6) ​ $ (37.9) ​ $ (1.1) ​ $ 8.6 (1) The Company expects to contribute $5.1 million and $0.0 million to the U.S. and International pension plans, respectively, during the calendar year 2020. The Company intends to make future cash contributions to the plans in an amount necessary to meet minimum funding requirements according to applicable benefit plan regulations. The weighted-average assumptions used to determine benefit obligations are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Pension Benefits ​ International Pension Benefits ​ ​ December 31, 2019 ​ December 31, 2018 ​ December 31, 2019 ​ December 31, 2018 Discount rate 3.07% ​ 4.12% ​ 1.97% ​ 2.86% Rate of compensation increase N/A ​ N/A ​ 2.27% ​ 2.19% ​ The weighted-average assumptions used to determine net periodic benefit cost are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Pension Benefits ​ International Pension Benefits ​ ​ Year Ended ​ Year Ended ​ ​ December 31, ​ December 31, ​ December 31, ​ December 31, ​ December 31, ​ December 31, ​ 2019 2018 2017 2019 2018 2017 Discount rate 4.12% ​ 3.42% ​ 3.92% ​ 2.86% ​ 2.58% ​ 2.70% Weighted average expected long-term return on plan assets 6.70% ​ 7.00% ​ 7.00% ​ 2.99% ​ 2.86% ​ 2.85% Rate of compensation increase N/A ​ N/A ​ N/A ​ 2.19% ​ 2.19% ​ 2.14% ​ The offset to the pension liability is recorded in equity as a component of accumulated other comprehensive (income) loss. For further information, see Note 14—Accumulated Other Comprehensive Income (Loss) for pension amounts and activity recorded in accumulated other comprehensive income. For the years ended December 31, 2019, December 31, 2018, and December 31, 2017, net periodic benefit costs were $1.7 million, $1.1 million, and $0.6 million, respectively. The service cost component of net periodic benefit costs is recorded in general and administrative other and the non-operating component is recorded in other expense (income) in the consolidated statements of operations. maintain sufficient liquidity for payment of the plan obligations and expenses. The Company uses a diversified allocation of equity, debt, commodity and real estate exposures that are customized to the plan’s cash flow benefit needs. A weighted average targeted allocation percentage is assigned to each asset class as follows: U.S. equity securities of 43%, fixed including U.S. treasury securities and bond market funds of 27%, international equity securities of 23%, and private real estate of 7%. The international pension benefit plans do not have an established asset target allocation. Under the defined contribution plan, the Company sponsors a voluntary 401(k) savings plan covering certain U.S. employees age 21 or older and who are not covered by a collective bargaining agreement. Under the Company’s 401(k) Savings Plan, the Company matches 100% of each eligible employee’s elective contributions up to 3% and 50% of contributions up to 5% of the employee’s eligible compensation. Income and Operating Taxes. The Company accounts for income taxes in accordance with ASC 740-10. Under ASC 740-10, deferred income tax effects of transactions reported in different periods for financial reporting and income tax return purposes are recorded by the asset and liability method. This method gives consideration to the future tax consequences of deferred income or expense items and recognizes changes in income tax laws in the period of enactment. Holdings and its domestic subsidiaries file a consolidated U.S. federal income tax return and combined income tax returns in certain state jurisdictions. Foreign subsidiaries file income tax returns in foreign jurisdictions. Income taxes are determined based on separate Company computations of income or loss. Tax sharing arrangements are in place and utilized when tax benefits from affiliates in the consolidated group are used to offset what would otherwise be taxable income generated by Holdings or another affiliate. Casualty Insurance. The Company is self-insured for general liability up to $1.0 million per occurrence and carries a $0.5 million deductible limit per occurrence for workers’ compensation claims. The Company utilizes actuarial projections of its ultimate losses to calculate its reserves and expense. The actuarial method includes an allowance for adverse developments on known claims and an allowance for claims which have been incurred but which have not yet been reported. As of December 31, 2019 and December 31, 2018, the Company recorded casualty insurance reserves of $29.4 million and $24.9 million. The Company recorded expenses related to general liability and workers’ compensation claims of $32.6 million, $25.1 million, and $22.1 million for the years ended December 31, 2019, December 31, 2018, and December 31, 2017, respectively. Casualty insurance expense is recorded in operating expense. Other Expense (Income): The following table sets forth the components of other expense (income): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended ​ ​ December 31, (In millions) 2019 2018 2017 Derivative liability fair value adjustment for embedded conversion feature in the Convertible Notes due 2024 ​ $ (23.5) ​ $ (66.4) ​ $ — Derivative asset fair value adjustment for contingent call option related to the Class B common stock purchase and cancellation agreement ​ ​ 17.7 ​ ​ (45.0) ​ ​ — Business interruption insurance recoveries ​ ​ (1.1) ​ ​ (0.4) ​ ​ (0.4) Loss on Pound sterling forward contract ​ ​ 0.9 ​ ​ 0.4 ​ ​ — Foreign currency transactions losses ​ ​ 1.5 ​ ​ 1.4 ​ ​ (3.0) Non-operating components of net periodic benefit cost ​ ​ 1.2 ​ ​ 0.8 ​ ​ 0.2 Loss on extinguishment of Bridge Loan ​ ​ — ​ ​ — ​ ​ 0.4 Loss on repayment of indebtedness ​ ​ 16.6 ​ ​ — ​ ​ — Fees related to modification of term loans ​ ​ — ​ ​ 0.4 ​ ​ — Third party fees relating to Third Amendment to the Senior Secured Credit Agreement ​ ​ — ​ ​ — ​ ​ 1.0 Other ​ 0.1 ​ 0.7 ​ ​ 0.3 Other expense (income) ​ $ 13.4 ​ $ (108.1) ​ $ (1.5) ​ Accounting Pronouncements Recently Adopted Leases. — Revenue from Contracts with Customers. The Company adopted the guidance of Accounting Standards Codification (“ASC”) 606, Revenue from Contracts with Customers, (“ASC 606”) as of January 1, 2018 using the modified retrospective method. ASC 606 requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The Company recognized the cumulative effect of initially applying the new revenue standard as an adjustment to the opening balance of accumulated deficit. ASC 606 was applied only to contracts that were not completed at January 1, 2018. The comparative information in 2017 has not been adjusted and continues to be reported under ASC 605, Revenue Recognition, which was the accounting standard in effect during 2017. See Note 2 — Reclassification of Certain Tax Effects. In February 2018, the FASB issued ASU No. 2018-02, Income Statement – Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income (“ASU 2018-02”), which allows a reclassification from accumulated other comprehensive income to accumulated deficit for stranded tax effects resulting from the U.S. Tax Cuts and Jobs Act signed into law in December 2017. ASU 2018-02 was effective for the Company on January 1, 2019 and early adoption of the amendments was permitted, including adoption in any interim period. The Company early adopted ASU 2018-02, effective January 1, 2018, and recorded a reclassification related to the stranded tax effects that increased accumulated other comprehensive income and increased accumulated deficit by $5.0 mi

REVENUE RECOGNITION

REVENUE RECOGNITION	12 Months Ended
	Dec. 31, 2019
REVENUE RECOGNITION
REVENUE RECOGNITION	NOTE 2—REVENUE RECOGNITION ​ The Company adopted ASC 606 on January 1, 2018 using the modified retrospective method; and therefore, the comparative information has not been adjusted for the year ended December 31, 2017. The cumulative effect of the changes made to the consolidated balance sheet at January 1, 2018 for the adoption of ASC 606, are included in the following table: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (In millions) ​ Balance at ​ Adjustments Due to ASC 606 ​ Balance at Assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ Other long-term assets ​ $ 475.9 ​ $ 11.1 ​ $ 487.0 Current liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ Deferred revenues and income ​ ​ 401.0 ​ ​ (10.0) ​ ​ 391.0 Long-term liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ Exhibitor services agreement ​ ​ 530.9 ​ ​ 52.9 ​ ​ 583.8 Stockholders' equity: ​ ​ ​ ​ ​ ​ ​ ​ ​ Accumulated deficit ​ ​ (207.9) ​ ​ (31.8) ​ ​ (239.7) ​ The disclosure of the impact of the adoption of ASC 606 on the Company’s consolidated statement of operations is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, 2018 (In millions) ​ Without Adoption of ASC 606 ​ Adjustments ​ As Reported Revenues: ​ ​ ​ ​ ​ ​ ​ ​ ​ Admissions ​ $ 3,386.4 ​ $ (1.4) ​ $ 3,385.0 Food and beverage ​ ​ 1,671.9 ​ ​ (0.4) ​ ​ 1,671.5 Other theatre ​ ​ 356.8 ​ ​ 47.5 ​ ​ 404.3 Total revenues ​ ​ 5,415.1 ​ ​ 45.7 ​ ​ 5,460.8 Operating costs and expenses: ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating expense, excluding depreciation and amortization ​ ​ 1,636.7 ​ ​ 18.0 ​ ​ 1,654.7 Non-cash interest expense related to NCM exhibitor service agreement ​ ​ — ​ ​ 41.5 ​ ​ 41.5 Net earnings ​ ​ 123.9 ​ ​ (13.8) ​ ​ 110.1 ​ ​ ​ Disaggregation of Revenue : ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended (In millions) ​ December 31, 2019 ​ December 31, 2018 Major revenue types ​ ​ ​ ​ Admissions ​ $ 3,301.3 ​ $ 3,385.0 Food and beverage ​ ​ 1,719.6 ​ ​ 1,671.5 Other theatre: ​ ​ ​ ​ ​ ​ Advertising ​ ​ 143.0 ​ ​ 142.2 Other theatre ​ ​ 307.1 ​ ​ 262.1 Other theatre ​ ​ 450.1 ​ ​ 404.3 Total revenues ​ $ 5,471.0 ​ $ 5,460.8 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended (In millions) ​ December 31, 2019 ​ December 31, 2018 Timing of revenue recognition ​ ​ ​ ​ Products and services transferred at a point in time ​ $ 5,071.0 ​ $ 5,218.7 Products and services transferred over time (1) ​ ​ 400.0 ​ ​ 242.1 Total revenues ​ $ 5,471.0 ​ $ 5,460.8 (1) ​ ​ The following tables provide the balances of receivables and deferred revenue income: ​ ​ ​ ​ ​ ​ ​ ​ (In millions) ​ December 31, 2019 ​ December 31, 2018 Current assets: ​ ​ ​ ​ ​ ​ Receivables related to contracts with customers ​ $ 160.3 ​ $ 183.2 Miscellaneous receivables ​ ​ 93.9 ​ ​ 76.3 Receivables, net ​ $ 254.2 ​ $ 259.5 ​ ​ ​ ​ ​ ​ ​ ​ (In millions) ​ December 31, 2019 ​ December 31, 2018 Current liabilities: ​ ​ ​ ​ ​ ​ Deferred revenue related to contracts with customers ​ $ 447.1 ​ $ 412.8 Miscellaneous deferred income ​ ​ 2.1 ​ ​ 2.0 Deferred revenue and income ​ $ 449.2 ​ $ 414.8 ​ The significant changes in contract liabilities with customers included in deferred revenues and income are as follows: ​ ​ ​ ​ ​ ​ ​ Deferred Revenues ​ ​ Related to Contracts (In millions) ​ with Customers Ending balance at December 31, 2017 ​ $ 376.1 Cumulative effect of initially applying ASC 606 ​ ​ (10.0) Cash received in advance (1) ​ ​ 463.4 Customer loyalty rewards accumulated, net of expirations: ​ ​ ​ Admission revenues (2) ​ ​ 30.0 Food and beverage (2) ​ ​ 55.2 Other theatre (2) ​ ​ 8.9 Reclassification to revenue as the result of performance obligations satisfied: ​ ​ ​ Admission revenues (3) ​ ​ (329.9) Food and beverage (3) ​ ​ (82.3) Other theatre (4) ​ ​ (97.0) Business combination - Nordic purchase price allocation ​ ​ (2.3) Foreign currency translation adjustment ​ ​ 0.7 Ending balance at December 31, 2018 ​ $ 412.8 Cash received in advance (1) ​ ​ 457.1 Customer loyalty rewards accumulated, net of expirations: ​ ​ ​ Admission revenues (2) ​ ​ 29.4 Food and beverage (2) ​ ​ 69.7 Other theatre (2) ​ ​ 2.8 Reclassification to revenue as the result of performance obligations satisfied: ​ ​ ​ Admission revenues (3) ​ ​ (307.8) Food and beverage (3) ​ ​ (116.7) Other theatre (4) ​ ​ (95.6) Disposition of Austria theatres ​ ​ (1.2) Foreign currency translation adjustment ​ ​ (3.4) Ending balance at December 31, 2019 ​ $ 447.1 (1) ® (2) ® (3) ® (4) ® ​ The significant changes to contract liabilities included in the exhibitor services agreement (“ESA”), classified as long-term liabilities in the consolidated balance sheets, are as follows: ​ ​ ​ ​ ​ ​ Exhibitor Services (In millions) ​ Agreement Balance as of December 31, 2017 ​ $ 530.9 Cumulative effect of initially applying ASC 606 ​ ​ 52.9 Common Unit Adjustment – surrender of common units (1) ​ ​ (5.2) Reclassification of the beginning balance to other theatre revenue, as the result of performance obligations satisfied ​ ​ (14.6) Beginning balance $ 564.0 Common Unit Adjustment–additions of common units (1) ​ ​ 1.4 Reclassification of the beginning balance to other theatre revenue, as the result of performance obligations satisfied ​ ​ (15.7) Balance as of December 31, 2019 $ 549.7 (1) — ​ Transaction Price Allocated to the Remaining Performance Obligations: ​ ​ ​ ​ ​ (In millions) ​ Exhibitor services agreement Year Ended 2020 ​ $ 16.9 Year Ended 2021 ​ ​ 18.1 Year Ended 2022 ​ ​ 19.5 Year Ended 2023 ​ ​ 20.9 Year Ended 2024 ​ ​ 22.5 Years Ended 2025 through February 2037 ​ ​ 451.8 Total ​ $ 549.7 ​ The total amount of non-redeemed gifts cards and exchange tickets included in deferred revenues and income as of December 31, 2019 was $354.3 million. This will be recognized as revenues as the gift cards and exchange tickets are redeemed or as the non-redeemed gift card and exchange ticket revenues are recognized in proportion to the pattern of actual redemptions, which is estimated to occur over the next 24 months. ​ As of December 31, 2019, the amount of deferred revenue allocated to the AMC Stubs ® TM ​ The Company applies the practical expedient in ASC 606-10-50-14 and does not disclose information about remaining performance obligations that have original expected durations of one year or less.

LEASES

LEASES	12 Months Ended
	Dec. 31, 2019
LEASES
LEASES	NOTE 3—LEASES The Company adopted ASC 842 on January 1, 2019 using the modified retrospective transition method; and therefore, the comparative information has not been adjusted for the years ended December 31, 2018 and December 31, 2017 or as of December 31, 2018. Upon transition to the new standard, the Company elected the package of practical expedients which permitted the Company not to reassess under the new standard its prior conclusions about lease identification, lease classification and initial direct costs. The following table provides the operating and finance lease ROU assets and lease liabilities: ​ ​ ​ ​ ​ ​ ​ (In millions) ​ Balance Sheet Classification ​ December 31, 2019 Assets ​ ​ ​ ​ Operating lease right-of-use assets (1) ​ Operating lease right-of-use assets ​ $ 4,796.0 Finance lease right-of-use assets (2) ​ Property, net ​ ​ 73.4 Total leased assets ​ ​ ​ $ 4,869.4 ​ ​ ​ ​ ​ ​ Liabilities ​ ​ ​ ​ ​ Current ​ ​ ​ ​ ​ Operating lease liabilities (1) ​ Current maturities of operating lease liabilities ​ $ 585.8 Finance lease liabilities (2) ​ Current maturities of finance lease liabilities ​ ​ 10.3 Noncurrent ​ ​ ​ ​ ​ Operating lease liabilities (1) ​ Operating lease liabilities ​ ​ 4,913.8 Finance lease liabilities (2) ​ Finance lease liabilities ​ ​ 89.6 Total lease liabilities ​ ​ ​ $ 5,599.5 ​ (1) (2) The cumulative effect adjustment to accumulated deficit at January 1, 2019 is as follows: ​ ​ ​ ​ ​ ​ ​ Accumulated (In millions) ​ Deficit Balance as of December 31, 2018 ​ $ (550.9) Derecognition of existing assets for certain sale leaseback transactions previously recorded in property, net ​ ​ (405.9) Derecognition of existing liabilities for certain sale leaseback transactions previously recorded in current maturities of capital and financing lease obligations and in finance lease liabilities ​ ​ 427.5 Derecognition of deferred gains from the sale leaseback transactions previously recorded in other long-term liabilities ​ ​ 102.4 Difference in fair value compared to the basis of the right-of-use assets for previously impaired asset groups ​ ​ (49.0) Deferred taxes ​ ​ 1.2 Cumulative effect adjustment to accumulated deficit ​ ​ 76.2 Balance as of January 1, 2019 ​ $ (474.7) ​ The following is the impact of the adoption of ASC 842 on the Company’s consolidated statement of operations for the year ended December 31, 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, 2019 ​ ​ Without Adoption of ​ U.S. Markets ​ International Markets ​ ​ (In millions) ​ ASC 842 ​ Adjustments ​ Adjustments ​ As Reported Operating costs and expenses ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Rent (1)(2)(4) ​ $ 851.3 ​ $ 69.5 ​ $ 47.0 ​ $ 967.8 Depreciation and amortization (2)(3) ​ ​ 546.0 ​ ​ (53.6) ​ ​ (42.4) ​ ​ 450.0 Operating costs and expenses ​ ​ 5,314.5 ​ ​ 15.9 ​ ​ 4.6 ​ ​ 5,335.0 Operating income ​ ​ 156.5 ​ ​ (15.9) ​ ​ (4.6) ​ ​ 136.0 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other expense (income) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest expense: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Capital and financing lease obligations (1) ​ ​ 35.2 ​ ​ (13.2) ​ ​ (14.4) ​ ​ 7.6 Net loss ​ ​ (156.2) ​ ​ (2.7) ​ ​ 9.8 ​ ​ (149.1) ​ (1) (2) (3) (4) The following table reflects the lease costs for the year ended December 31, 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended (In millions) ​ Consolidated Statement of Operations ​ December 31, 2019 Operating lease cost ​ ​ ​ ​ Theatre properties ​ Rent ​ $ 876.0 Theatre properties ​ Operating expense ​ ​ 9.1 Equipment ​ Operating expense ​ ​ 14.4 Office and other ​ General and administrative: other ​ ​ 5.5 Finance lease cost ​ ​ ​ ​ ​ Amortization of finance lease assets ​ Depreciation and amortization ​ ​ 9.2 Interest expense on lease liabilities ​ Finance lease obligations ​ ​ 7.6 Variable lease cost ​ ​ ​ ​ ​ Theatre properties ​ Rent ​ ​ 91.8 Equipment ​ Operating expense ​ ​ 56.3 Total lease cost ​ ​ ​ $ 1,069.9 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, 2019 ​ ​ Weighted Average ​ Weighted Average ​ ​ Remaining ​ Discount Lease Term and Discount Rate ​ Lease Term (years) ​ Rate Operating leases ​ ​ 10.2 ​ ​ 7.2% Finance leases ​ ​ 13.0 ​ ​ 6.5% ​ ​ ​ ​ ​ ​ ​ ​ Year Ended (In millions) ​ December 31, 2019 Cash paid for amounts included in the measurement of lease liabilities: ​ ​ ​ Operating cash flows used in finance leases ​ $ (7.6) Operating cash flows used in operating leases ​ ​ (941.6) Financing cash flows used in finance leases ​ ​ (10.9) ​ ​ ​ ​ Landlord contributions: ​ ​ ​ Operating cashflows provided by operating leases ​ ​ 106.5 Supplemental disclosure of noncash leasing activities: ​ ​ ​ Right-of-use assets obtained in exchange for new operating lease liabilities (1) ​ ​ 463.2 ​ (1) Includes lease extensions and an option exercise. Minimum annual payments required under existing operating and finance lease liabilities, (net present value thereof) as of December 31, 2019 are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating Lease ​ Financing Lease (In millions) ​ Payments (1)(2) ​ Payments 2020 ​ $ 952.5 ​ $ 16.4 2021 ​ ​ 899.1 ​ ​ 15.4 2022 ​ ​ 836.1 ​ ​ 14.9 2023 ​ ​ 743.6 ​ ​ 11.8 2024 ​ ​ 667.2 ​ ​ 10.6 Thereafter ​ ​ 3,738.4 ​ ​ 80.5 Total lease payments ​ ​ 7,836.9 ​ ​ 149.6 Less imputed interest ​ ​ (2,337.3) ​ ​ (49.7) Total ​ $ 5,499.6 ​ $ 99.9 ​ (1) (2) 5 During the year ended December 31, 2018, the Company modified the terms of an existing operating lease to reduce the lease term. The Company received a $35.0 million incentive from the landlord to enter into the new lease agreement. The Company has recorded amortization of the lease incentive as a reduction to rent expense on a straight-line basis over the remaining lease term which reduced rent expense by $35.0 million during the year ended December 31, 2018.

PROPERTY

PROPERTY	12 Months Ended
	Dec. 31, 2019
PROPERTY
PROPERTY	NOTE 4— PROPERTY ​ A summary of property is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ (In millions) December 31, 2019 December 31, 2018 Property owned: ​ ​ ​ ​ ​ ​ ​ Land ​ $ 106.3 ​ $ 104.6 ​ Buildings and improvements ​ 230.4 ​ 878.2 ​ Leasehold improvements ​ 1,834.8 ​ 1,560.7 ​ Furniture, fixtures and equipment ​ 2,216.8 ​ 2,065.4 ​ ​ ​ 4,388.3 ​ 4,608.9 ​ Less: accumulated depreciation ​ 1,812.5 ​ 1,668.3 ​ ​ ​ ​ 2,575.8 ​ ​ 2,940.6 ​ ​ ​ ​ ​ ​ ​ ​ ​ Property leased under capital leases: ​ ​ ​ ​ ​ ​ ​ Building and improvements ​ ​ 81.0 ​ ​ 127.8 ​ Less: accumulated depreciation and amortization ​ ​ 7.6 ​ ​ 28.8 ​ ​ ​ ​ 73.4 ​ ​ 99.0 ​ ​ ​ $ 2,649.2 ​ $ 3,039.6 ​ (1) See Note 3 — Leases for information about derecognition of existing assets for certain sale leaseback transactions previously recorded in property, net for the cumulative effect adjustment to accumulated deficit as of January 1, 2019, as required by ASC 842. Property is recorded at cost or fair value, in the case of property resulting from acquisitions. The Company uses the straight-line method in computing depreciation and amortization for financial reporting purposes. The estimated useful lives for leasehold improvements and buildings subject to a ground lease reflect the shorter of the expected useful lives of the assets or the base terms of the corresponding lease agreements plus renewal options expected to be exercised for these leases for assets placed in service subsequent to the lease inception. The estimated useful lives are as follows: ​ ​ ​ ​ ​ Buildings and improvements 5 to 45 years Leasehold improvements ​ 1 to 20 years ​ Furniture, fixtures and equipment ​ 1 to 11 years ​ ​ Expenditures for additions (including interest during construction) and betterments are capitalized, and expenditures for maintenance and repairs are charged to expense as incurred. The cost of assets retired or otherwise disposed of and the related accumulated depreciation and amortization are eliminated from the accounts in the year of disposal. Gains or losses resulting from property disposals are included in operating expense in the accompanying consolidated statements of operations. Depreciation expense was $413.6 million, $498.2 million, and $495.2 million for the years ended December 31, 2019, December 31, 2018 and December 31, 2017, respectively.

GOODWILL

GOODWILL	12 Months Ended
	Dec. 31, 2019
GOODWILL
GOODWILL	NOTE 5—GOODWILL AND INTANGIBLE ASSETS ​ Activity of goodwill is presented below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (In millions) ​ U.S. ​ International ​ Total Balance as of December 31, 2017 ​ $ 3,072.6 ​ $ 1,859.1 ​ $ 4,931.7 Adjustments to the acquisition of Nordic ​ ​ — ​ ​ (6.4) ​ ​ (6.4) Currency translation adjustment ​ ​ — ​ ​ (136.6) ​ ​ (136.6) Balance as of December 31, 2018 ​ $ 3,072.6 ​ $ 1,716.1 ​ $ 4,788.7 Currency translation adjustment ​ ​ — ​ ​ 0.4 ​ ​ 0.4 Balance as of December 31, 2019 ​ $ 3,072.6 ​ $ 1,716.5 ​ $ 4,789.1 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2019 ​ December 31, 2018 ​ ​ Gross ​ ​ Gross ​ ​ ​ ​ Remaining ​ Carrying ​ Accumulated ​ Carrying ​ Accumulated (In millions) ​ Useful Life ​ Amount ​ Amortization ​ Amount ​ Amortization Amortizable Intangible Assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Favorable leases (1) ​ ​ $ — ​ $ — ​ $ 206.0 ​ $ (55.4) ​ Management contracts and franchise rights 1 to 7 years ​ 11.8 ​ (7.9) ​ 11.8 ​ (6.2) ​ Non-compete agreement 2 years ​ 2.6 ​ (2.1) ​ 2.6 ​ (1.5) ​ Starplex trade name ​ 7 years ​ ​ 7.9 ​ ​ (2.6) ​ ​ 7.9 ​ ​ (1.8) ​ Carmike trade name ​ 4 years ​ ​ 9.3 ​ ​ (4.0) ​ ​ 9.3 ​ ​ (2.7) ​ NCM tax receivable agreement 17 years ​ 20.9 ​ (6.2) ​ 20.9 ​ (5.3) ​ Total, amortizable ​ ​ ​ $ 52.5 ​ $ (22.8) ​ $ 258.5 ​ $ (72.9) ​ Unamortized Intangible Assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ AMC trademark ​ ​ ​ $ 104.4 ​ ​ ​ ​ $ 104.4 ​ ​ ​ ​ Odeon trade names ​ ​ ​ ​ 50.7 ​ ​ ​ ​ ​ 51.4 ​ ​ ​ ​ Nordic trade names ​ ​ ​ ​ 10.5 ​ ​ ​ ​ ​ 10.7 ​ ​ ​ ​ Total, unamortizable ​ ​ ​ $ 165.6 ​ ​ ​ ​ $ 166.5 ​ ​ ​ ​ (1) See Note 1 — The Company and Significant Accounting Policies for information regarding the reclassification of favorable leases as an addition to the opening lease ROU asset balances, as required by ASC 842. Amortization expense associated with the intangible assets noted above is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended ​ (In millions) December 31, 2019 December 31, 2018 December 31, 2017 ​ Recorded amortization ​ $ 5.1 ​ $ 19.2 ​ $ 20.0 ​ ​ Estimated annual amortization for the next five calendar years for intangible assets is projected below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (In millions) 2020 2021 2022 2023 2024 Projected annual amortization ​ $ 5.0 ​ $ 4.5 ​ $ 3.5 ​ $ 3.1 ​ $ 1.7 ​ ​

INVESTMENTS

INVESTMENTS	12 Months Ended
	Dec. 31, 2019
INVESTMENTS
INVESTMENTS	NOTE 6—INVESTMENTS ​ Investments in non-consolidated affiliates and certain other investments accounted for under the equity method generally include all entities in which the Company or its subsidiaries have significant influence, but not more than 50% voting control, and are recorded in the consolidated balance sheets in other long-term assets. Investments in non-consolidated affiliates as of December 31, 2019, include interests in DCIP of 29.0%, DCDC of 14.6%, AC JV, owner of Fathom Events, of 32.0%, SV Holdco, owner of Screenvision, 18.2%, DCM of 50.0%, and SCC of 10.0%. The Company also has partnership interests in four U.S. motion picture theatres and approximately 50.0% interest in 55 theatres in Europe. Indebtedness held by equity method investees is non-recourse to the Company. At December 31, 2019, the Company’s recorded investments are greater than its proportional ownership of the underlying equity in its non-consolidated affiliates by approximately $36.6 million. NCM Transactions Pursuant to the Company’s Common Unit Adjustment Agreement, from time to time common units of NCM held by the Founding Members will be adjusted up or down through a formula (“Common Unit Adjustment”), primarily based on increases or decreases in the number of theatre screens operated and theatre attendance generated by each Founding Member. The common unit adjustment is computed annually, except that an earlier common unit adjustment will occur for a Founding Member if its acquisition or disposition of theatres, in a single transaction or cumulatively since the most recent common unit adjustment, will cause a change of 2% or more in the total annual attendance of all of the Founding Members. In the event that a common unit adjustment is determined to be a negative number, the Founding Member shall cause, at its election, either (a) the transfer and surrender to NCM of a number of common units equal to all or part of such Founding Member’s common unit adjustment or (b) pay to NCM an amount equal to such Founding Member’s common unit adjustment calculated in accordance with the Common Unit Adjustment Agreement. In March 2018, the NCM Common Unit Adjustment ("CUA") resulted in a negative adjustment of 915,150 common units for the Company. The Company elected to return the units and recorded the surrendered common units as a reduction to deferred revenues for the ESA at fair value of $5.2 million, based upon a price per share of NCM, Inc. of $5.64 on March 15, 2018. The Company’s investment in NCM was reduced by the carrying value of the common units of $6.3 million resulting in a loss from the surrender of the NCM common units of $1.1 million, which was recorded to equity in earnings (loss) of Non-Consolidated Entities in March 2018. In June 18, 2018, the Company entered into two Unit Purchase Agreements (the “Agreements”) with each of Regal Cinemas, Inc. (“Regal”) and Cinemark USA, Inc. (“Cinemark”) pursuant to which Regal and Cinemark each separately agreed to purchase 10,738,740 common units of NCM at a sales price of $7.30 per unit and aggregate consideration of approximately $156.8 million (the “Sales”). The Sales closed on July 5, 2018. Following the closing of the Sales, it reduced the Company’s then ownership of common stock shares in NCM, Inc. or common units in NCM to zero. NCM consented to the Sales and waived its rights under the memorandum of understanding that provided the Company would not reduce its combined ownership of NCM and NCM, Inc. below 4.5%. The Company recorded a $28.9 million gain on the sale of its NCM investment during the year ended December 31, 2018. In March 2019, the NCM CUA resulted in a positive adjustment of 197,118 common units for the Company. The Company received the units and recorded the common units as an addition to deferred revenues for the ESA at fair value of $1.4 million, based upon a price per share of National CineMedia, Inc. (“NCM, Inc.”) of $7.24 on March 14, 2019. The Company does not have significant influence over this entity and the investment is recorded at fair value each period. SV Holdco. (“Screenvision”) The Company acquired its investment in SV Holdco on December 21, 2016, in connection with the acquisition of Carmike. SV Holdco is a holding company that owns and operates the Screenvision advertising business through a subsidiary entity. SV Holdco has elected to be taxed as a partnership for U.S. federal income tax purposes. On May 30, 2018, Screenvision entered into an Agreement and Plan of Merger which resulted in a change of control in Screenvision. The Company received distributions and merger consideration of $45.8 million on July 2, 2018 upon consummation of the Screenvision merger and retains a 18.2% common membership interest. The Company reduced the carrying value of its investment in Screenvision to $0 and recorded equity in earnings for the excess distribution of $30.1 million during the year ended December 31, 2018. DCIP Transactions The Company will make capital contributions to DCIP for projector and installation costs in excess of an agreed upon cap. The Company pays equipment rent monthly and records the equipment rental expense on a straight-line basis over 12 years, or until DCIP contributes the projectors back to the Company reducing the Company’s investment in DCIP. Open Road Films Transactions During the year ended December 31, 2017, the Company recorded additional equity in earnings (loss) in Open Road Releasing, LLC (“Open Road”) of $(8.0) million, related to certain advances to and on behalf of Open Road. On August 4, 2017, the Company and Regal Entertainment Group consummated a transaction for the sale of all the issued and outstanding ownership interests in Open Road for total proceeds of $28.8 million of which the Company received $14.0 million in net proceeds after transaction expenses for its 50% investment including collection of amounts due from Open Road of $4.8 million and recognized a gain on sale of $17.2 million. AC JV Transactions On December 26, 2013, the Company amended and restated its existing ESA with NCM in connection with the spin-off by NCM of its Fathom Events business to AC JV, a newly-formed company owned 32% by each of the Founding Members and 4% by NCM. In consideration for the spin-off, NCM received a total of $25.0 million in promissory notes from its Founding Members (approximately $8.3 million from each Founding Member). Interest on the promissory note is at a fixed rate of 5% per annum, compounded annually. Interest and principal payments are due annually in six equal installments commencing on the first anniversary of the closing. The Company paid the sixth and final annual installment related to the promissory note in December 2019. As of December 31, 2019, Cinemark and Regal also amended and restated their respective ESAs with NCM in connection with the spin-off. The ESAs were modified to remove those provisions addressing the rights and obligations related to digital programing services of the Fathom Events business. Those provisions are now contained in the Amended and Restated Digital Programming Exhibitor Services Agreements (the “Digital ESAs”) that were entered into on December 26, 2013 by NCM and each of the Founding Members. These Digital ESAs were then assigned by NCM to AC JV as part of the Fathom spin-off. Summary Financial Information Investments in non-consolidated affiliates accounted for under the equity method as of December 31, 2019, include interests in SV Holdco, DCM, DCIP, AC JV, DCDC, SCC, 55 theatres in Europe, four U.S. motion picture theatres, and other immaterial investments. Condensed financial information of the Company’s significant non-consolidated equity method investments is shown below with amounts presented under U.S. GAAP: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2019 (In millions) DCIP ​ Other ​ Total Current assets ​ $ 51.4 ​ $ 287.9 ​ $ 339.3 Noncurrent assets ​ ​ 568.0 ​ ​ 275.3 ​ 843.3 Total assets ​ ​ 619.4 ​ ​ 563.2 ​ 1,182.6 Current liabilities ​ ​ 64.6 ​ ​ 157.8 ​ 222.4 Noncurrent liabilities ​ ​ 10.4 ​ ​ 250.1 ​ 260.5 Total liabilities ​ ​ 75.0 ​ ​ 407.9 ​ 482.9 Stockholders’ equity ​ ​ 544.4 ​ ​ 155.3 ​ 699.7 Liabilities and stockholders’ equity ​ ​ 619.4 ​ ​ 563.2 ​ 1,182.6 The Company’s recorded investment ​ $ 151.0 ​ $ 88.1 ​ $ 239.1 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2018 (In millions) DCIP ​ Other ​ Total Current assets ​ $ 57.9 ​ $ 170.4 ​ $ 228.3 Noncurrent assets ​ ​ 684.3 ​ ​ 201.0 ​ 885.3 Total assets ​ ​ 742.2 ​ ​ 371.4 ​ 1,113.6 Current liabilities ​ ​ 60.7 ​ ​ 99.4 ​ 160.1 Noncurrent liabilities ​ ​ 132.1 ​ ​ 207.7 ​ 339.8 Total liabilities ​ ​ 192.8 ​ ​ 307.1 ​ 499.9 Stockholders’ equity ​ ​ 549.5 ​ ​ 64.3 ​ 613.8 Liabilities and stockholders’ equity ​ ​ 742.2 ​ ​ 371.4 ​ 1,113.6 The Company’s recorded investment ​ $ 152.5 ​ $ 79.9 ​ $ 232.4 (1) Certain differences in the Company’s recorded investments, and its proportional ownership share resulting from the acquisition of Holdings by Wanda on August 30, 2012, where the investments were recorded at fair value, are amortized to equity in (earnings) losses of non-consolidated entities over the estimated useful lives of the underlying assets and liabilities. Other non-amortizing differences are considered to represent goodwill and are evaluated for impairment annually. Condensed financial information of the Company’s significant non-consolidated equity method investments is shown below and amounts are presented under U.S. GAAP for the periods of ownership by the Company: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, 2019 (In millions) DCIP Other ​ Total Revenues ​ $ 172.2 ​ $ 522.3 ​ $ 694.5 Operating costs and expenses ​ ​ 94.3 ​ ​ 489.4 ​ ​ 583.7 Net earnings ​ $ 77.9 ​ $ 32.9 ​ $ 110.8 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, 2018 (In millions) NCM (1) DCIP ​ Other Total Revenues ​ $ 193.9 ​ $ 176.7 ​ $ 532.2 ​ $ 902.8 Operating costs and expenses ​ ​ 171.9 ​ ​ 81.9 ​ ​ 489.2 ​ ​ 743.0 Net earnings ​ $ 22.0 ​ $ 94.8 ​ $ 43.0 ​ $ 159.8 (1) The NCM condensed financial information represents the period January 1, 2018 through the date the sale closed July 5, 2018. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, 2017 (In millions) NCM DCIP ​ Other Total Revenues ​ $ 426.1 ​ $ 177.4 ​ $ 581.9 ​ $ 1,185.4 Operating costs and expenses ​ ​ 324.2 ​ ​ 84.3 ​ ​ 550.9 ​ ​ 959.4 Net earnings ​ $ 101.9 ​ $ 93.1 ​ $ 31.0 ​ $ 226.0 ​ The components of the Company’s recorded equity in earnings (losses) of non-consolidated entities are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended ​ Year Ended ​ Year Ended (In millions) December 31, 2019 December 31, 2018 December 31, 2017 National CineMedia ​ $ — ​ $ 17.9 ​ $ (216.3) Digital Cinema Implementation Partners, LLC ​ ​ 25.4 ​ ​ 29.1 ​ ​ 28.6 Other ​ ​ 5.2 ​ ​ 39.7 ​ ​ 2.5 The Company’s recorded equity in earnings (losses) ​ $ 30.6 ​ $ 86.7 ​ $ (185.2) (1) Includes both NCM, LLC and NCM, Inc. The Company recorded the following changes in the carrying amount of its investment in NCM LLC and equity in earnings of NCM LLC during the years ended December 31, 2019, December 31, 2018, and December 31, 2017: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accumulated ​ ​ ​ ​ ​ ​ ​ G&A: ​ ​ ​ ​ ​ ​ Exhibitor Other ​ Equity in ​ Mergers and ​ ​ ​ ​ Investment ​ Services ​ Comprehensive ​ Cash ​ (Earnings) ​ Acquisitions ​ Advertising (In millions) ​ in NCM ​ Agreement(1) ​ (Income)/Loss ​ Received ​ Losses ​ Expense ​ (Revenue) Ending balance at December 31, 2016 ​ $ 323.9 ​ $ (359.2) ​ $ (4.0) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Receipt of common units ​ ​ 235.2 ​ ​ (235.2) ​ ​ — ​ $ — ​ $ — ​ $ — ​ $ — Receipt of excess cash distributions ​ ​ (28.6) ​ ​ — ​ ​ — ​ ​ 28.6 ​ ​ — ​ ​ — ​ ​ — Surrender of common units for transferred theatres ​ ​ (36.4) ​ ​ 35.7 ​ ​ — ​ ​ — ​ ​ 0.7 ​ ​ — ​ ​ — Surrender of common units for make whole agreement ​ ​ (23.1) ​ ​ — ​ ​ — ​ ​ — ​ ​ 0.5 ​ ​ 22.6 ​ ​ — Other-than-temporary impairment loss - held for sale ​ ​ (206.3) ​ ​ — ​ ​ — ​ ​ — ​ ​ 206.3 ​ ​ — ​ ​ — Units exchanged for NCM, Inc. common shares ​ ​ (116.5) ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Equity in earnings ​ ​ 15.3 ​ ​ — ​ ​ 1.5 ​ ​ — ​ ​ (16.8) ​ ​ — ​ ​ — Equity in loss from amortization of basis difference ​ ​ (2.4) ​ ​ — ​ ​ — ​ ​ — ​ ​ 2.4 ​ ​ — ​ ​ — Amortization of ESA ​ ​ — ​ ​ 27.8 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ (27.8) Ending balance at December 31, 2017 ​ $ 161.1 ​ $ (530.9) ​ $ (2.5) ​ $ 28.6 ​ $ 193.1 ​ $ 22.6 ​ $ (27.8) ASC 606 revenue recognition change in amortization method ​ ​ — ​ ​ (52.9) ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Surrender of common units for common unit adjustment ​ ​ (6.3) ​ ​ 5.2 ​ ​ — ​ ​ — ​ ​ 1.1 ​ ​ — ​ ​ — Receipt of excess cash distributions ​ ​ (15.3) ​ ​ — ​ ​ — ​ ​ 15.3 ​ ​ — ​ ​ — ​ ​ — Impairment loss - held for sale ​ ​ (14.4) ​ ​ — ​ ​ — ​ ​ — ​ ​ 14.4 ​ ​ — ​ ​ — Expenses on sale of NCM common units ​ ​ — ​ ​ — ​ ​ — ​ ​ (1.4) ​ ​ 1.4 ​ ​ — ​ ​ — Sale of NCM common units ​ ​ (128.3) ​ ​ — ​ ​ 2.4 ​ ​ 156.8 ​ ​ (30.9) ​ ​ — ​ ​ — Equity in earnings ​ ​ 3.2 ​ ​ — ​ ​ 0.1 ​ ​ — ​ ​ (3.3) ​ ​ — ​ ​ — Amortization of ESA ​ ​ — ​ ​ 14.6 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ (14.6) Ending balance at December 31, 2018 ​ $ — ​ $ (564.0) ​ $ — ​ $ 170.7 ​ $ (17.3) ​ $ — ​ $ (14.6) Receipt of NCM shares ​ ​ — ​ ​ (1.4) ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Amortization of ESA ​ ​ — ​ ​ 15.7 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ (15.7) Ending balance at December 31, 2019 ​ $ — ​ $ (549.7) ​ $ — ​ $ — ​ $ — ​ $ — ​ $ (15.7) (1) Represents the unamortized portion of the ESA with NCM. Such amounts are being amortized to other theatre revenues over the remainder of the 30 -year term of the ESA ending in 2037. See Note 1 — The Company and Significant Accounting Policies and Note 2 — Revenue Recognition for information on the effects of adopting ASC 606. Related Party Transactions ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of As of (In millions) ​ December 31, 2019 December 31, 2018 Due from DCM for on-screen advertising revenue ​ $ 4.2 ​ $ 2.8 Loan receivable from DCM ​ ​ 0.7 ​ ​ 0.6 Due from DCIP for warranty expenditures ​ ​ 3.5 ​ ​ 3.4 Deferred rent liability for digital projectors related to DCIP ​ ​ — ​ ​ (7.8) Due to AC JV for Fathom Events programming ​ ​ (0.8) ​ ​ (2.5) Due from Screenvision for on-screen advertising revenue ​ ​ 3.4 ​ ​ 2.7 Due from Nordic JVs ​ ​ 2.5 ​ ​ 2.6 Due to Nordic JVs for management services ​ ​ (1.6) ​ ​ (1.7) Due from SCC related to the joint venture ​ ​ 8.3 ​ ​ — Due to U.S. theatre partnerships ​ ​ (1.0) ​ ​ (0.9) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended (In millions) ​ Condensed Consolidated Statement of Operations ​ December 31, 2019 ​ December 31, 2018 ​ December 31, 2017 DCM screen advertising revenues ​ Other revenues ​ $ 22.4 ​ $ 20.1 ​ $ 23.3 DCIP equipment rental expense ​ Operating expense ​ ​ 3.6 ​ ​ 6.5 ​ ​ 5.7 Gross exhibition cost on AC JV Fathom Events programming ​ Film exhibition costs ​ ​ 13.6 ​ ​ 12.9 ​ ​ 12.5 Screenvision screen advertising revenues ​ Other revenues ​ ​ 15.6 ​ ​ 15.1 ​ ​ 14.0 ​ ​

SUPPLEMENTAL BALANCE SHEET INFO

SUPPLEMENTAL BALANCE SHEET INFORMATION	12 Months Ended
	Dec. 31, 2019
SUPPLEMENTAL BALANCE SHEET INFORMATION
SUPPLEMENTAL BALANCE SHEET INFORMATION	NOTE 7—SUPPLEMENTAL BALANCE SHEET INFORMATION ​ Assets held for sale, other assets and liabilities consist of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ (In millions) December 31, 2019 December 31, 2018 Other current assets: ​ ​ ​ ​ ​ ​ ​ Income taxes receivable ​ $ 11.7 ​ $ 24.7 ​ Prepaids (1) ​ 63.4 ​ 99.8 ​ Merchandise inventory ​ 37.5 ​ 35.2 ​ Other ​ 30.8 ​ 38.1 ​ ​ ​ $ 143.4 ​ $ 197.8 ​ Other long-term assets: ​ ​ ​ ​ ​ ​ ​ Investments in real estate ​ $ 16.8 ​ $ 16.2 ​ Deferred financing costs revolving credit facility ​ 11.3 ​ 6.7 ​ Investments in equity method investees ​ 239.1 ​ 232.4 ​ Computer software ​ 115.8 ​ 104.3 ​ Investment in common stock ​ 28.0 ​ 30.9 ​ Pension asset ​ ​ 19.6 ​ ​ 25.7 ​ Derivative asset ​ ​ 38.0 ​ ​ 55.7 ​ Other ​ 34.4 ​ 33.6 ​ ​ ​ $ 503.0 ​ $ 505.5 ​ Accrued expenses and other liabilities: ​ ​ ​ ​ ​ ​ ​ Taxes other than income ​ $ 75.2 ​ $ 73.4 ​ Interest ​ 21.2 ​ 32.6 ​ Payroll and vacation ​ 43.8 ​ 39.6 ​ Current portion of casualty claims and premiums ​ 12.6 ​ 11.2 ​ Accrued bonus ​ 32.5 ​ 39.6 ​ Theatre and other closure ​ — ​ 5.6 ​ Accrued licensing and percentage rent ​ 24.7 ​ 18.9 ​ Current portion of pension ​ 0.5 ​ 0.3 ​ Other ​ 114.1 ​ 157.3 ​ ​ ​ $ 324.6 ​ $ 378.5 ​ Other long-term liabilities: ​ ​ ​ ​ ​ ​ ​ Unfavorable lease obligations ​ $ — ​ $ 176.6 ​ Deferred rent ​ — ​ 518.5 ​ Pension ​ 59.9 ​ 54.6 ​ Deferred gain ​ ​ — ​ ​ 102.4 ​ Casualty claims and premiums ​ 17.9 ​ 15.2 ​ Theatre and other closure ​ — ​ 12.5 ​ Other ​ 118.1 ​ 83.3 ​ ​ ​ $ 195.9 ​ $ 963.1 ​ (1) See Note 1 — The Company and Significant Accounting Policies for information regarding the reclassification of prepaid rent, unfavorable lease obligations, deferred rent including landlord allowances and theatre closure liabilities as a reduction to the opening lease ROU asset balances, as required by ASC 842. (2) See Note 3 — Leases for information regarding the derecognition of deferred gains from sale leaseback transactions for the cumulative effect adjustment to accumulated deficit as of January 1, 2019, as required by ASC 842.

CORPORATE BORROWINGS

CORPORATE BORROWINGS	12 Months Ended
	Dec. 31, 2019
CORPORATE BORROWINGS
CORPORATE BORROWINGS	NOTE 8—CORPORATE BORROWINGS AND FINANCE LEASE OBLIGATIONS A summary of the carrying value of corporate borrowings and capital and financing lease obligations is as follows: ​ ​ ​ ​ ​ ​ ​ ​ (In millions) December 31, 2019 December 31, 2018 Senior Secured Credit Facility-Term Loan due 2022 ​ $ — ​ $ 854.2 Senior Secured Credit Facility-Term Loan due 2023 ​ ​ — ​ ​ 491.2 Senior Secured Credit Facility-Term Loan due 2026 (5.23% as of December 31, 2019) ​ ​ 1,985.0 ​ ​ — Odeon Revolving Credit Facility Due 2022 ​ ​ — ​ $ 11.9 6.0% Senior Secured Notes due 2023 ​ ​ — ​ ​ 230.0 2.95% Senior Unsecured Convertible Notes due 2024 ​ ​ 600.0 ​ ​ 600.0 5.875% Senior Subordinated Notes due 2022 ​ — ​ 375.0 6.375% Senior Subordinated Notes due 2024 (£500 million par value) ​ ​ 655.8 ​ ​ 634.1 5.75% Senior Subordinated Notes due 2025 ​ ​ 600.0 ​ ​ 600.0 5.875% Senior Subordinated Notes due 2026 ​ ​ 595.0 ​ ​ 595.0 6.125% Senior Subordinated Notes due 2027 ​ ​ 475.0 ​ ​ 475.0 5.0% Promissory Note payable to NCM due 2019 ​ — ​ 1.3 ​ ​ $ 4,910.8 ​ $ 4,867.7 Finance lease obligations ​ 99.9 ​ 560.2 Debt issuance costs ​ ​ (88.8) ​ ​ (104.3) Net discounts ​ ​ (69.1) ​ ​ (64.4) Derivative liability ​ ​ 0.5 ​ ​ 24.0 ​ ​ $ 4,853.3 ​ $ 5,283.2 Less: ​ ​ ​ ​ ​ ​ Current maturities corporate borrowings ​ ​ (20.0) ​ (15.2) Current maturities finance lease obligations ​ ​ (10.3) ​ ​ — Current maturities capital and financing lease obligations ​ ​ — ​ ​ (67.0) ​ ​ $ 4,823.0 ​ $ 5,201.0 (1) See Note 3 — Leases for information about the derecognition of existing liabilities for certain sale leaseback transactions for the cumulative effect adjustment to accumulated deficit as of January 1, 2019, as required by ASC 842. ​ The following table provides the principal payments required and maturities of corporate borrowings as of December 31, 2019: ​ ​ ​ ​ ​ ​ ​ Principal ​ ​ Amount of ​ ​ Corporate (In millions) Borrowings 2020 ​ $ 20.0 2021 ​ 20.0 2022 ​ 20.0 2023 ​ 20.0 2024 ​ 1,275.8 Thereafter ​ 3,555.0 Total ​ $ 4,910.8 ​ Senior Secured Credit Facility The Senior Secured Credit Facility is with a syndicate of banks and other financial institutions. The Senior Secured Credit Facility also provides for a Revolving Credit Facility, including a borrowing capacity which is available for letters of credit and for swingline borrowings on same-day notice. Sixth Amendment to Credit Agreement. Company, each lender party thereto and Citicorp North America, Inc. (“Citi”), as administrative agent. After giving effect to the Sixth Amendment, the Credit Agreement provides for senior secured financing of $2,225.0 million in aggregate, consisting of (1) $2,000.0 million in aggregate principal amount of senior secured tranche B loans maturing April 22, 2026 (the “Term Loan Facility”) and (2) a $225.0 million senior secured revolving credit facility (which includes borrowing capacity available for letters of credit) maturing April 22, 2024 (the “Revolving Credit Facility” and, together with the Term Loan Facility, the “Credit Facilities”). The loans were used to repay all of the Company’s existing term loans in an aggregate principal amount of approximately $1,338.5 million and to fund the redemptions of the 5.875% Senior Subordinated Notes due 2022 and the 6.0% Senior Secured Notes due 2023. The Company recorded a loss of $16.6 million during the year ended December 31, 2019 related to these transactions, comprised of $14.1 million of extinguishment losses and $2.5 million of third party costs related to the modification of the Term Loans under the Senior Secured Credit Facility. All obligations under the Credit Agreement are guaranteed by, subject to certain exceptions, each of the Company’s current and future wholly-owned material domestic restricted subsidiaries. All obligations under the Credit Agreement, and the guarantees of those obligations, are secured by substantially all of the assets of the Company and each guarantor, subject to customary exceptions, including: ● a pledge of 100% of the equity interests directly held by the Company and each guarantor in any wholly-owned material subsidiary of the Company or any guarantor (which pledge, in the case of any non-U.S. subsidiary of a U.S. subsidiary, will not include more than 65% of the voting stock of such non-U.S. subsidiary), subject to certain exceptions; and ● a security interest in substantially all other tangible and intangible assets of the Company and each guarantor, subject to certain exceptions. The Credit Facilities will require the Company to prepay outstanding term loans, subject to certain exceptions, with: ● 50% (which percentage will be reduced to 0% if the Company attains a certain secured net leverage ratio) of the Company’s annual excess cash flow; ● 100% of the net cash proceeds of certain non-ordinary course asset sales by the Company and its restricted subsidiaries (including casualty and condemnation events, subject to de minimis thresholds), and subject to the right to reinvest 100% of such proceeds, subject to certain qualifications; and ● 100% of the net proceeds of any issuance or incurrence of debt by the Company or any of its restricted subsidiaries, other than certain debt permitted under the Credit Agreement. The foregoing mandatory prepayments will be used to reduce the installments of principal on the Term Loan Facility. The Company may voluntarily repay outstanding loans under the Credit Facilities at any time without premium or penalty, except (1) for customary “breakage” costs with respect to LIBOR loans under the Credit Facilities and (2) during the six months following the Amendment Closing Date, with respect to certain voluntary prepayments or refinancings of the Term Loan Facility that reduce the effective yield of the Term Loan Facility, which will be subject to a 1.00% prepayment premium. Borrowings under the Term Loan Facility will bear interest at a rate per annum equal to, at the Company’s option, either (1) an applicable margin plus a base rate determined by reference to the highest of (a) 0.50% per annum plus the Federal Funds Effective Rate, (b) the prime rate of Citi and (c) LIBOR determined by reference to the cost of funds for U.S. dollar deposits for an interest period of one month adjusted for certain additional costs, plus 1.00% or (2) an applicable margin plus LIBOR determined by reference to the costs of funds for U.S. dollar deposits for the interest period relevant to such borrowing adjusted for certain additional costs. Borrowings under the Revolving Credit Facility will bear interest at a rate per annum equal to an applicable margin based upon a leverage-based pricing grid, plus, at the Company’s option, either (1) a base rate determined by reference to the highest of (a) 0.50% per annum plus the Federal Funds Effective Rate, (b) the prime rate of Citi and (c) LIBOR determined by reference to the cost of funds for U.S. dollar deposits for an interest period of one month adjusted for certain additional costs, plus 1.00% or (2) LIBOR determined by reference to the costs of funds for U.S. dollar deposits for the interest period relevant to such borrowing adjusted for certain additional costs. As of December 31, 2019, the applicable margins for LIBOR borrowings under the Term Loan Facility and the Revolving Credit Facility are 3.00% and 2.50% , respectively. The Credit Agreement contains other customary terms, including (1) representations, warranties and affirmative covenants, (2) negative covenants, including limitations on indebtedness, liens, mergers and acquisitions, asset sales, investments, distributions, prepayments of subordinated debt and transactions with affiliates, in each case subject to baskets, thresholds and other exceptions, and (3) customary events of default. The availability of certain baskets and the ability to enter into certain transactions will also be subject to compliance with certain financial ratios. In addition, the Revolving Credit Facility includes a maintenance covenant that requires, in certain circumstances, compliance with a certain secured leverage ratio. Odeon Revolving Credit Facility Senior Unsecured Convertible Notes due 2024 The carrying value of the Senior Unsecured Convertible Notes due 2024 is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Carrying Value ​ Additional ​ Increase ​ Carrying Value ​ Increase ​ Carrying Value ​ ​ at Issuance on ​ Deferred ​ to Expense ​ as of ​ to Expense ​ as of (In millions) ​ September 14, 2018 ​ Charges ​ (Income) ​ December 31, 2018 ​ (Income) ​ December 31, 2019 Principal balance ​ $ 600.0 ​ $ — ​ $ — ​ $ 600.0 ​ $ — ​ $ 600.0 Discount ​ ​ (90.4) ​ ​ — ​ ​ 3.7 ​ ​ (86.7) ​ ​ 13.0 ​ ​ (73.7) Debt issuance costs ​ ​ (12.5) ​ ​ (1.1) ​ ​ 0.6 ​ ​ (13.0) ​ ​ 1.8 ​ ​ (11.2) Derivative liability ​ ​ 90.4 ​ ​ — ​ ​ (66.4) ​ ​ 24.0 ​ ​ (23.5) ​ ​ 0.5 Carrying Value ​ $ 587.5 ​ $ (1.1) ​ $ (62.1) ​ $ 524.3 ​ $ (8.7) ​ $ 515.6 ​ On September 14, 2018, the Company issued $600.0 million aggregate principal amount of its 2.95% Senior Unsecured Convertible Notes due 2024 (the "Convertible Notes due 2024"). The Convertible Notes due 2024 mature on September 15, 2024, subject to earlier conversion by the holders thereof, repurchase by the Company at the option of the holders or redemption by the Company upon the occurrence of certain contingencies, as discussed below. Upon maturity, the $600.0 million principal amount of the Convertible Notes due 2024 will be payable in cash. The Company will pay interest in cash on the Convertible Notes due 2024 at 2.95% per annum, semi-annually in arrears on September 15th and March 15th, commencing on March 15, 2019. The Company used the net proceeds from the sale of the Convertible Notes due 2024 to repurchase and retire 24,057,143 shares of Class B common stock held by Wanda for $17.50 per share or approximately $421.0 million, associated legal fees of $2.6 million, and to pay a special dividend of $1.55 per share of Class A common stock and Class B common stock, or approximately $160.5 million on September 28, 2018 to shareholders of record on September 25, 2018. The Company bifurcated the conversion feature from the principal balance of the Convertible Notes due 2024 as a derivative liability because (1) a conversion feature is not clearly and closely related to the debt instrument and the reset of the conversion price discussed in the following paragraph causes the conversion feature to not be considered indexed to the Company’s equity, (2) the conversion feature standing alone meets the definition of a derivative, and (3) the Convertible Notes due 2024 are not remeasured at fair value each reporting period with changes in fair value recorded in the consolidated statement of operations. The initial derivative liability of $90.4 million is offset by a discount to the principal balance and is amortized to interest expense resulting in an effective rate of 5.98% over the term of the Convertible Notes due 2024. The Company also recorded debt issuance costs of approximately $13.6 million related to the issuance of the Convertible Notes due 2024 and will amortize those costs to interest expense under the effective interest method over the term of the Convertible Notes due 2024. The Company recorded interest expense for the year ended December 31, 2019 of $32.6 million and for the period from September 14, 2018 to December 31, 2018 of $9.7 million. The derivative liability is remeasured at fair value each reporting period with changes in fair value recorded in the consolidated statement of operations as other expense or income. See Note 12 — Measurements for a discussion of the valuation methodology. For the years ended December 31, 2019 and December 31, 2018, this resulted in other expense (income) of $(23.5) million and $(66.4) million, respectively. The principal balance exceeded the if-converted value of the Convertible Notes due 2024 by approximately $370.8 million as of December 31, 2019 based on the closing price per share of the Company’s common stock of $7.24 per share. Upon conversion by a holder thereof, the Company shall deliver, at its election, either cash, shares of the Company’s Class A common stock or a combination of cash and shares of the Company’s Class A common stock at a conversion rate of 52.7704 per $1,000 principal amount of the Convertible Notes due 2024 (which represents an initial conversion price of $18.95), in each case subject to customary anti-dilution adjustments. As of December 31, 2019, the $600.0 million principal balance of the Convertible Notes due 2024 would be convertible into 31,662,269 shares of Class A common stock. In addition to typical anti-dilution adjustments, in the event that the then-applicable conversion price is greater than 120% of the average of the volume-weighted average price of the Company’s Class A common stock for the ten days prior to the second anniversary of issuance (the “Reset Conversion Price”), the conversion price for the Convertible Notes due 2024 is subject to a reset provision that would adjust the conversion price downward to such Reset Conversion Price. However, this conversion price reset provision is subject to a conversion price floor such that the shares of the Company’s Class A common stock issuable upon conversion would not exceed 30% of the Company’s then outstanding fully-diluted share capital after giving effect to the conversion. In addition, a trigger of the reset provision would result in up to 5,666,000 shares of the Company’s Class B common stock held by Wanda becoming subject to forfeiture and retirement by the Company at no additional cost pursuant to the stock repurchase agreement between the Company and Wanda discussed in Note 9 — — The Convertible Notes due 2024 are general unsecured senior obligations of the Company and are fully and unconditionally guaranteed on a joint and several senior unsecured basis by all the Company’s existing and future domestic restricted subsidiaries that guarantee its other indebtedness. On September 14, 2018, in connection with the issuance of the Convertible Notes due 2024, the Company entered into an investment agreement (the “Investment Agreement”) providing for, among other things, registration rights with respect to the Convertible Notes due 2024 and the shares of Class A common stock underlying the Convertible Notes due 2024. Subject to the terms of the Investment Agreement, the Company was required to file a registration statement with the SEC not later than three months from the issuance date of the Convertible Notes in order to provide for resales of the Convertible Notes due 2024 and the shares of Class A common stock underlying the Convertible Notes to be made on a delayed or continuous basis pursuant to Rule 415 under the Securities Act. The Company filed a registration statement with the SEC on December 14, 2018 to fulfill this requirement. Sterling Notes Due 2024 On November 8, 2016, the Company issued £250.0 million aggregate principal amount of its 6.375% Senior Subordinated Notes due 2024 (the "Sterling Notes due 2024") in a private offering. The Company recorded deferred financing costs of approximately $14.1 million related to the issuance of the Sterling Notes due 2024. The Sterling Notes due 2024 mature on November 15, 2024. The Company will pay interest on the Sterling Notes due 2024 at 6.375% per annum, semi-annually in arrears on May 15th and November 15th, commencing on May 15, 2017. The Company may redeem some or all of the Sterling Notes due 2024 at any time on or after November 15, 2019 at 104.781% of the principal amount thereof, declining ratably to 100% of the principal amount thereof on or after November 15, 2022, plus accrued and unpaid interest to the redemption date. On or prior to November 15, 2019, the Company may redeem the Sterling Notes due 2024 at par, including accrued and unpaid interest plus a make-whole premium. The Company used the net proceeds from the Sterling Notes due 2024 private offering to pay the consideration for the Odeon acquisition and the related refinancing of Odeon debt assumed in the acquisition. The Sterling Notes due 2024 are general unsecured senior subordinated obligations of the Company and are fully and unconditionally guaranteed on a joint and several senior subordinated unsecured basis by all of its existing and future domestic restricted subsidiaries that guarantee its other indebtedness. Following the closing of the Odeon acquisition on November 30, 2016 and the Carmike acquisition on December 21, 2016, neither Odeon or Carmike or any of its subsidiaries will guarantee the Sterling Notes due 2024. The indenture governing the Sterling Notes due 2024 contains covenants limiting other indebtedness, dividends, purchases or redemptions of stock, transactions with affiliates, and mergers and sales of assets. On November 8, 2016, in connection with the issuance of the Sterling Notes due 2024, the Company entered into a registration rights agreement. Subject to the terms of the registration rights agreement, the Company is required to (1) file a registration statement with the Securities and Exchange Commission (“SEC”) not later than 270 days from the issuance date with respect to the registered offer to exchange the notes for new notes of the Company having terms identical in all material respects to the notes and (2) use its commercially reasonable efforts to cause the exchange offer registration statement to be declared effective under the Securities Act of 1933 within 365 days of the issuance date. On March 17, 2017, the Company issued £250.0 million additional aggregate principal amount of its Sterling Notes due 2024 at 106% plus accrued interest from November 8, 2016 in a private offering. These additional Sterling Notes due 2024 were offered as additional notes under an indenture pursuant to which the Company had previously issued and has outstanding £250.0 million aggregate principal amount of its 6.375% Sterling Notes due 2024. The Company recorded deferred financing costs of approximately $12.7 million related to the issuance of the additional Sterling Notes due 2024. The Sterling Notes due 2024 mature on November 15, 2024. The Company will pay interest on the Sterling Notes due 2024 at 6.375% per annum, semi-annually in arrears on May 15th and November 15th, commencing on May 15, 2017. Interest on the additional Sterling Notes will accrue from November 8, 2016. The Company may redeem some or all of the Sterling Notes due 2024 at any time on or after November 15, 2019, at 104.781% of the principal amount thereof, declining ratably to 100% of the principal amount thereof on or after November 15, 2022, plus accrued and unpaid interest to the redemption date. In addition, the Company may redeem up to 35% of the aggregate principal amount of the Sterling Notes due 2024 using net proceeds from certain equity offerings completed on or prior to November 15, 2019. On or prior to November 15, 2019, the Company may redeem the Sterling Notes due 2024 at par, including accrued and unpaid interest plus a make-whole premium. The Company used the net proceeds from the additional Sterling Notes to pay a portion of the consideration for the acquisition of Nordic plus related refinancing of Nordic debt assumed in the acquisition. On March 17, 2017, in connection with the issuance of the additional Sterling Notes due 2024, the Company entered into a registration rights agreement. Subject to the terms of the registration rights agreement, the Company is required to (1) file one or more registration statements with the SEC not later than 270 days from November 8, 2016 with respect to the registered offer to exchange the notes for new notes of the Company having terms identical in all material respects to the notes and (2) use its commercially reasonable efforts to cause the exchange offer registration statement to be declared effective under the Securities Act within 365 days of November 8, 2016. The Company filed its Form S–4 registration statement related to the registration rights agreement with the Securities and Exchange Commission on April 19, 2017, and it was declared effective June 7, 2017. All of the original notes were exchanged as of July 12, 2017. Notes Due 2025 On June 5, 2015, the Company issued $600.0 million aggregate principal amount of its 5.75% Senior Subordinated Notes due 2025 (the “Notes due 2025”) in a private offering. The Company capitalized deferred financing costs of approximately $11.4 million, related to the issuance of the Notes due 2025. The Notes due 2025 mature on June 15, 2025. The Company will pay interest on the Notes due 2025 at 5.75% per annum, semi-annually in arrears on June 15th and December 15th, commencing on December 15, 2015. The Company may redeem some or all of the Notes due 2025 at any time on or after June 15, 2020 at 102.875% of the principal amount thereof, declining ratably to 100% of the principal amount thereof on or after June 15, 2023, plus accrued and unpaid interest to the redemption date. Prior to June 15, 2020, the Company may redeem the Notes due 2025 at par plus a make-whole premium. The Company used the net proceeds from the Notes due 2025 private offering and cash on hand, to pay the consideration for the tender offer for the Notes due 2020, plus any accrued and unpaid interest and related transaction fees and expenses. The Notes due 2025 are general unsecured senior subordinated obligations of the Company and are fully and unconditionally guaranteed on a joint and several senior subordinated unsecured basis by all of its existing and future domestic restricted subsidiaries that guarantee its other indebtedness. The indenture governing the Notes due 2025 contains covenants limiting other indebtedness, dividends, purchases or redemptions of stock, transactions with affiliates, and mergers and sales of assets. On June 5, 2015, in connection with the issuance of the Notes due 2025, the Company entered into a registration rights agreement. Subject to the terms of the registration rights agreement, the Company filed a registration statement on June 19, 2015 pursuant to the Securities Act of 1933, as amended, relating to an offer to exchange the original Notes due 2025 for exchange Notes due 2025 registered pursuant to an effective registration statement; the registration statement was declared effective on June 29, 2015, and the Company commenced the exchange offer. The exchange notes have terms substantially identical to the original notes except that the exchange notes do not contain terms with respect to transfer restrictions and registration rights and additional interest payable for the failure to consummate the exchange offer within 210 days after the issue date. After the exchange offer expired on July 27, 2015, all of the original Notes due 2025 were exchanged. Notes Due 2026 On November 8, 2016, the Company issued $595.0 million aggregate principal amount of its 5.875% Senior Subordinated Notes due 2026 (the "Notes due 2026") in a private offering. The Company recorded deferred financing costs of approximately $27.0 million related to the issuance of the Notes due 2026. The Notes due 2026 mature on November 15, 2026. The Company will pay interest on the Notes due 2026 at 5.875% per annum, semi-annually in arrears on May 15th and November 15th, commencing on May 15, 2017. The Company may redeem some or all of the Notes due 2026 at any time on or after November 15, 2021, at 102.938% of the principal amount thereof, declining ratably to 100% of the principal amount thereof on or after November 15, 2024, plus accrued and unpaid interest to the redemption date. On or prior to November 15, 2021, the Company may redeem the Notes due 2026 at par, including accrued and unpaid interest plus a make-whole premium. The Company used the net proceeds from the Notes due 2026 private offering to pay the consideration for the Odeon acquisition and the related refinancing of Odeon debt assumed in the acquisition. The Notes due 2026 are general unsecured senior subordinated obligations of the Company and are fully and unconditionally guaranteed on a joint and several senior subordinated unsecured basis by all of its existing and future domestic restricted subsidiaries that guarantee its other indebtedness. Following the closing of the Odeon acquisition on November 30, 2016 and the Carmike acquisition on December 21, 2016, neither Odeon or Carmike or any of its subsidiaries will guarantee the Notes due 2026. The indenture governing the Notes due 2026 contains covenants limiting other indebtedness, dividends, purchases or redemptions of stock, transactions with affiliates, and mergers and sales of assets. On November 8, 2016, in connection with the issuance of the Notes due 2026, the Company entered into a registration rights agreement. Subject to the terms of the registration rights agreement, the Company is required to (1) file a registration statement with the SEC not later than 270 days from the issuance date with respect to the registered offer to exchange the notes for new notes of the Company having terms identical in all material respects to the notes and (2) use its commercially reasonable efforts to cause the exchange offer registration statement to be declared effective under the Securities Act within 365 days of the issuance date. The Company filed its Form S–4 registration statement related to the registration rights agreement with the Securities and Exchange Commission on April 19, 2017, and it was declared effective June 7, 2017. All of the original notes were exchanged as of July 12, 2017. Notes Due 2027 On March 17, 2017, the Company issued $475.0 million aggregate principal amount of its 6.125% Senior Subordinated Notes due 2027 (the "Notes due 2027"). The Company recorded deferred financing costs of approximately $19.8 million related to the issuance of the Notes due 2027. The Notes due 2027 mature on May 15, 2027. The Company will pay interest on the Notes due 2027 at 6.125% per annum, semi-annually in arrears on May 15th and November 15th, commencing on November 15, 2017. The Company may redeem some or all of the Notes due 2027 at any time on or after May 15, 2022 at 103.063% of the principal amount thereof, declining ratably to 100% of the principal amount thereof on or after May 15, 2025, plus accrued and unpaid interest to the redemption date. In addition, the Company may redeem up to 35% of the aggregate principal amount of the Notes due 2027 using net proceeds from certain equity offerings completed on or prior to May 15, 2020, at a redemption price as set forth in the indenture governing the Notes due 2027. The Company may redeem some or all of the Notes due 2027 at any time prior to May 15, 2022 at a redemption price equal to 100% of their aggregate principal amount and accrued and unpaid interest to, but not including, the date of redemption, plus an applicable make-whole premium. The Company used the net proceeds from the Notes due 2027 private offering to pay a portion of the consideration for the acquisition of Nordic plus related refinancing of Nordic debt assumed in the acquisition. The Notes due 2027 are general unsecured senior subordinated obligations of the Company and are fully and unconditionally guaranteed on a joint and several senior subordinated unsecured basis by all of its existing and future domestic restricted subsidiaries that guarantee its other indebtedness. Following the closing of the Nordic acquisition on March 28, 2017, neither Nordic nor any of its subsidiaries guaranteed the Notes due 2027. The indenture governing the Notes due 2027 contains covenants limiting other indebtedness, dividends, purchases or redemptions of stock, transactions with affiliates, and mergers and sales of assets. On March 17, 2017, in connection with the issuance of the Notes due 2027, the Company entered into a registration rights agreement. Subject to the terms of the registration rights agreement, the Company is required to (1) file one or more registration statements with the SEC not later than 270 days from the issuance date with respect to the registered offer to exchange the notes for new notes of the Company having terms identical in all material respects to the notes and (2) use its commercially reasonable efforts to cause the exchange offer registration statement to be declared effective under the Securities Act within 365 days of the issuance date. The Company filed its Form S–4 registration statement related to the registration rights agreement with the Securities and Exchange Commission on April 19, 2017, and it was declared effective June 7, 2017. All of the original notes were exchanged as of July 12, 2017. Financial Covenants Each indenture relating to the Convertible Notes due 2024, the Sterling Notes due 2024, the Notes due 2025, the Notes due 2026, and the Notes due 2027 allows the Company to incur specified permitted indebtedness (as defined therein) without restriction. Each indenture also allows the Company to incur any amount of additional debt as long as it can satisfy the coverage ratio of each indenture, after giving effect to the indebtedness on a pro forma basis. Under the indentures for the Convertible Notes due 2024, the Sterling Notes due 2024, the Notes due 2025, the Notes due 2026, and the Notes due 2027 at December 31, 2019, the Company could borrow approximately $215.0 million, net of $10.0 million in outstanding letters of credit available under its Revolving Credit Facility. If the Company cannot satisfy the coverage ratios of the indentures, generally it can borrow an additional amount under the Senior Secured Credit Facility. The indentures also contain restrictions on the Company’s ability to pay dividends. Under the most restrictive provision set forth in the note indenture for the Notes due 2025, as of December 31, 2019, the Company could not make dividend payments in excess of approximately $2.7 billion in the aggregate. As of December 31, 2019, the Company had $332.0 million available for borrowing under its Senior Secured Revolving Credit Facility and Odeon Revolving Credit Facility. As of December 31, 2019, the Company was in compliance with all financial covenants relating to the Senior Secured Credit Facility, Odeon’s Revolving Credit Facility Agreement, the Convertible Notes due 2024, the Sterling Notes due 2024, the Notes due 2025, the Notes due 2026 and the Notes due 2027.

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	12 Months Ended
	Dec. 31, 2019
STOCKHOLDERS' EQUITY
STOCKHOLDERS' EQUITY	NOTE 9—STOCKHOLDERS’ EQUITY ​ Common Stock Rights and Privileges ​ The rights of the holders of Holdings’ Class A common stock and Holdings’ Class B common stock are identical, except with respect to voting and conversion applicable to the Class B common stock. Holders of Holdings’ Class A common stock are entitled to one vote per share and holders of Holdings’ Class B common stock are entitled to three votes per share. Holders of Class A common stock and Class B common stock will share ratably (based on the number of shares of common stock held) in any dividend declared by its board of directors, subject to any preferential rights of any outstanding preferred stock. The Class A common stock is not convertible into any other shares of Holdings’ capital stock. Each share of Class B common stock is convertible at any time at the option of the holder into one share of Class A common stock. In addition, each share of Class B common stock shall convert automatically into one share of Class A common stock upon any transfer, whether or not for value, except for certain transfers described in Holdings’ certificate of incorporation. ​ Dividends ​ The following is a summary of dividends and dividend equivalents declared to stockholders during the year ended December 31, 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amount per ​ Total Amount ​ ​ ​ Share of Declared Declaration Date ​ Record Date ​ Date Paid ​ Common Stock ​ (In millions) February 15, 2019 ​ March 11, 2019 ​ March 25, 2019 ​ $ 0.20 ​ $ 21.3 May 3, 2019 ​ June 10, 2019 ​ June 24, 2019 ​ ​ 0.20 ​ ​ 21.3 August 2, 2019 ​ September 9, 2019 ​ September 23, 2019 ​ ​ 0.20 ​ ​ 21.3 October 24, 2019 ​ December 2, 2019 ​ December 16, 2019 ​ ​ 0.20 ​ ​ 21.0 ​ During the year ended December 31, 2019, the Company paid dividends and dividend equivalents of $84.1 million and accrued $2.3 million for the remaining unpaid dividends at December 31, 2019. The aggregate dividends paid for Class A common stock, Class B common stock, and dividend equivalents were approximately $41.7 million, $41.4 million, and $1.0 million, respectively. On February 26, 2020, the Company declared a cash dividend in the amount of $0.03 per share on Class A and Class B common stock, payable on March 23, 2020 The following is a summary of dividends and dividend equivalents declared to stockholders during the year ended December 31, 2018: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amount per ​ Total Amount ​ ​ ​ Share of Declared Declaration Date ​ Record Date ​ Date Paid ​ Common Stock ​ (In millions) February 28, 2018 ​ March 12, 2018 ​ March 26, 2018 ​ $ 0.20 ​ $ 26.0 May 3, 2018 ​ June 11, 2018 ​ June 25, 2018 ​ ​ 0.20 ​ ​ 26.0 July 24, 2018 ​ September 10, 2018 ​ September 24, 2018 ​ ​ 0.20 ​ ​ 25.8 September 14, 2018 ​ September 25, 2018 ​ September 28, 2018 ​ ​ 1.55 ​ ​ 162.9 November 1, 2018 ​ December 10, 2018 ​ December 26, 2018 ​ ​ 0.20 ​ ​ 21.2 ​ During the year ended December 31, 2018, the Company paid dividends and dividend equivalents of $258.1 million and accrued $4.0 million for the remaining unpaid dividends at December 31, 2018. The aggregate dividends paid for Class A common stock, Class B common stock, and dividend equivalents were approximately $122.0 million, $136.1 million, and $0.1 million, respectively. During the year ended December 31, 2017, the Company paid dividends and dividend equivalents of $104.6 million and accrued $1.1 million for the remaining unpaid dividends at December 31, 2017. The aggregate dividends paid for Class A common stock, Class B common stock, and dividend equivalents were approximately $43.9 million, $60.6 million, and $0.2 million, respectively. Related Party Transactions ​ As of December 31, 2019 and December 31, 2018, the Company recorded a receivable due from Wanda of $0.8 million and $0.9 million, respectively for reimbursement of general administrative and other expense incurred on behalf of Wanda. Total reimbursements of other expenses from Wanda were $0.4 million, $0.0 million and $0.6 million for the years ended December 31, 2019, December 31, 2018, and December 31, 2017, respectively. The Company’s majority shareholder, Wanda, owns Legendary Entertainment, a motion picture production company. The Company will occasionally play Legendary’s films in its theatres, as a result of transactions with independent film distributors. On September 14, 2018, the Company entered into the Investment Agreement with Silver Lake Alpine, L.P., an affiliate of Silver Lake Group, L.L.C. (“Silver Lake”), relating to the issuance to Silver Lake (or its designated affiliates) of $600.0 million principal amount of the Convertible Notes due 2024. See Note 8 — On September 14, 2018, the Company, Silver Lake and Wanda entered into a Right of First Refusal Agreement (the “ ROFR Agreement On September 14, 2018, the Company used the proceeds from the Convertible Notes due 2024, and pursuant to a stock repurchase agreement between the Company and Wanda, repurchased 24,057,143 shares of Class B common stock at a price of $17.50 per share or $421.0 million and associated legal fees of $2.6 million. As of December 31, 2019, Wanda owns 49.85% of AMC through its 51,769,784 shares of Class B common stock. With the three-to-one voting ratio between Class B and Class A common stock, Wanda retains voting control of AMC with 74.89% of the voting power of the Company’s common stock. As discussed in Note 8, up to 5,666,000 shares of Class B common stock are subject to forfeiture for no consideration in connection with the reset provision contained in the Indenture. Temporary Equity ​ Certain members of management have the right to require Holdings to repurchase the Class A common stock held by them under certain limited circumstances pursuant to the terms of a stockholders agreement. Beginning on January 1, 2016 (or upon the termination of a management stockholders employment by the Company without cause, by the management stockholder for good reason, or due to the management stockholders death or disability) management stockholders had the right, in limited circumstances, to require Holdings to purchase shares that were not fully and freely tradeable at a price equal to the price per share paid by such management stockholder with appropriate adjustments for any subsequent events such as dividends, splits, or combinations. The shares of Class A common stock, subject to the stockholder agreement, were classified as temporary equity, apart from permanent equity, as a result of the contingent redemption feature contained in the stockholder agreement. The Company determined the amount reflected in temporary equity for the Class A common stock based on the price paid per share by the management stockholders and Wanda on August 30, 2012, the date Wanda acquired Holdings. ​ As of January 1, 2019, the remaining management employees who held 75,712 shares relinquished their put rights and the related share amount of $0.4 million was reclassified to additional paid in capital, a component of stockholders’ equity. During the year ended December 31, 2018, one former employee and one current employee who held a total of 37,105 shares relinquished their put rights, therefore the related share amount of $0.4 million was reclassified to additional paid in capital, a component of stockholders’ equity. Additional Public Offering ​ On February 13, 2017, the Company completed an additional public offering of 20,330,874 shares of Class A common stock at a price of $31.50 per share ($640.4 million), resulting in net proceeds of $616.8 million after underwriters commission and other professional fees. The Company used a portion of the net proceeds to repay the aggregate principal amount of the Interim Bridge Loan of $350.0 million and general corporate purposes. Treasury Stock ​ On August 3, 2017, the Company announced that its Board of Directors had approved a $100.0 million share repurchase program to repurchase its Class A common stock over a two Repurchases were made at management's discretion from time to time through open-market transactions including block purchases, through privately negotiated transactions, or otherwise until mid-August 2019 in accordance with all applicable securities laws and regulations. The extent to which AMC repurchases its shares, and the timing of such repurchases, depended upon a variety of factors, including liquidity, capital needs of the business, market conditions, regulatory requirements, and other corporate considerations, as determined by AMC’s management team. Repurchases were made under a Rule 10b5-1 plan, which permitted common stock to be repurchased when the Company’s management might otherwise be precluded from doing so under insider trading laws. The repurchase program did not obligate the Company to repurchase any minimum dollar amount or number of shares and may be suspended for periods or discontinued at any time. During the year ended December 31, 2018, the Company repurchased 500,000 shares of Class A common stock at a cost of approximately $8.2 million. During the year ended December 31, 2017, the Company repurchased 3,195,856 shares of Class A common stock at a cost of $47.5 million. The program expired on August 2, 2019. Stock-Based Compensation ​ 2013 Equity Incentive Plan ​ The 2013 Equity Incentive Plan provides for grants of non-qualified stock options, incentive stock options, stock appreciation rights, restricted stock awards, restricted stock units (“RSU’s”), performance stock units (“PSU’s), stock awards, and cash performance awards. The maximum number of shares of Holdings’ common stock available for delivery pursuant to awards granted under the 2013 Equity Incentive Plan is 9,474,000 shares. At December 31, 2019, the aggregate number of shares of Holdings’ common stock available for grant was 4,674,150 shares. ​ The Company recorded stock-based compensation expense of $4.4 million, $14.9 million, and $5.7 million within general and administrative: other during the years ended December 31, 2019, December 31, 2018, and December 31, 2017, respectively. 2019 Stock-Based Compensation Summary (in millions): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amount Recognized ​ Amount ​ Expected to ​ Expected to ​ Expected to ​ ​ Expected to ​ ​ Expected to ​ ​ Year Ended ​ Unrecognized ​ Recognize ​ Recognize ​ Recognize ​ ​ Recognize ​ ​ Recognize Grant Tranche ​ December 31, 2019 ​ December 31, 2019 ​ 2020 ​ 2021 ​ 2022 ​ ​ 2023 ​ ​ 2024 2019 Board of Directors ​ $ 0.5 ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — 2019 RSU awards ​ ​ 3.5 ​ ​ 7.0 ​ ​ 3.5 ​ ​ 3.5 ​ ​ — ​ ​ — ​ ​ — 2019 PSU awards ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — 2018 RSU awards ​ ​ 3.1 ​ ​ 3.0 ​ ​ 3.0 ​ ​ — ​ ​ — ​ ​ — ​ ​ — 2018 PSU awards ​ ​ (5.8) ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — 2017 RSU awards ​ ​ 1.6 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — 2017 RSU NEO awards ​ ​ 1.4 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — 2017 PSU awards ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — 2019 RSU executive ​ ​ 0.1 ​ ​ 1.6 ​ ​ 1.1 ​ ​ 0.3 ​ ​ 0.2 ​ ​ — ​ ​ — 2019 PSU executive ​ ​ — ​ ​ 1.4 ​ ​ 0.5 ​ ​ 0.5 ​ ​ 0.2 ​ ​ 0.1 ​ ​ 0.1 ​ ​ $ 4.4 ​ $ 13.0 ​ $ 8.1 ​ $ 4.3 ​ $ 0.4 ​ $ 0.1 ​ $ 0.1 ​ Awards Granted in 2019, 2018, and 2017 ​ AMC’s Board of Directors approved awards of stock, RSU’s, and PSU’s to certain of the Company’s employees and directors under the 2013 Equity Incentive Plan. During years 2019, 2018, and 2017, the grant date fair value of these awards was based on the closing price of AMC’s stock on the date of grant, which ranged from $8.67 to $31.45 per share. The award agreements generally had the following features: ● Stock Award Agreement: The Company granted fully vested shares of Class A common stock to its independent members of AMC’s Board of Directors and recognized expense in general and administrative: other expense as summarized below: ​ ​ ​ ​ ​ ​ ​ ​ ​ Vested ​ Recognized ​ ​ Class A ​ Upon Stock Award Agreement ​ Common Stock ​ Grant Year Granted ​ Granted ​ (in millions) 2019 ​ 32,464 ​ $ 0.5 2018 ​ 28,055 ​ ​ 0.5 2017 ​ 13,684 ​ ​ 0.4 ​ ● Restricted Stock Unit Award Agreement: The Company granted RSU awards to certain members of management. Each RSU represents the right to receive one share of Class A common stock at a future date. The RSUs granted during 2019, 2018, and 2017 vest over three years with 1/3 vesting in each year. These RSUs will be settled within 30 days of vesting. A dividend equivalents equal to the amount paid in respect of one share of Class A common stock underlying the RSUs began to accrue with respect to the RSUs on the date of grant. Such accrued dividend equivalents are paid to the holder upon vesting of the RSUs. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Recognized Restricted Stock Unit ​ ​ ​ in 2019 Year Granted ​ Units Granted ​ (in millions) 2019 ​ 730,167 ​ $ 3.5 2018 ​ 656,576 ​ ​ 3.1 2017 ​ 201,726 ​ ​ 1.6 ​ ​ ​ ​ $ 8.2 ​ ● Restricted Stock Unit Award Executive Agreement: During the year ended December 31, 2019, the Company granted RSU awards of 200,000 to an executive officer (“2019 RSU executive”) of the Company with one-half vesting on the first anniversary of employment on December 2, 2020 and the remaining one-half vesting ratably over a three year period ending on December 2, 2022. All unvested RSUs shall be forfeited upon termination of services. Each RSU represents the right to receive one share of Class A common stock at a future date. These RSUs will be settled within 30 days of vesting. A dividend equivalent equal to the amount paid in respect of one share of Class A common stock underlying the RSUs began to accrue with respect to the RSUs on the date of grant. Such accrued dividend equivalents are paid to the holder upon vesting of the RSUs. The Company recognized approximately $0.1 million of expense in general and administrative: other expense during the year ended December 31, 2019. ● Restricted Stock Unit Named Executive Officer Award Agreement: During the year ended December 31, 2017, RSU awards of 129,214 units were granted to certain executive officers covered by Section 162(m) of the Internal Revenue Code (“2017 RSU NEO awards”). The RSUs will be forfeited if AMC does not achieve a specified cash flow from operating activities target for each of the years ended on December 31, 2017, 2018 and 2019. The RSUs vest over three years with 1/3 vesting in each of 2017, 2018 and 2019 if the cash flow from operating activities target is met. The vested RSUs will be settled within 30 days of vesting. A dividend equivalent equal to the amount paid in respect of one share of Class A common stock underlying the RSUs began to accrue with respect to the RSUs on the date of grant. Such accrued dividend equivalents are paid to the holder upon vesting of the RSUs. The grant date fair value was $4.1 million based on the probable outcome of the performance targets and a stock price of $31.45 on March 31, 2017. The Company recognized expense for these awards of $1.4 million, $1.3 million, and $1.4 million in general and administrative: other expense, during the each of the years ended December 31, 2019, December 31, 2018 and December 31, 2017, respectively, based on achievement of the performance condition for 2019, 2018, and 2017. During the year ended December 31, 2016, RSU awards of 135,981 units were granted to certain executive officers covered by Section 162(m) of the Internal Revenue Code (“2016 RSU NEO awards”). The RSUs will be forfeited if AMC does not achieve a specified cash flow from operating activities target for each of the years ending December 31, 2016, 2017 and 2018. The RSUs vest over three years with 1/3 ● Performance Stock Unit Award Agreement: During the year ended December 31, 2019, PSU awards of 730,167 were granted to certain members of management and executive officers, with three-year cumulative Adjusted EBITDA, diluted earnings per share, and net profit performance target conditions and service conditions, covering a performance period beginning January 1, 2019 and ending on December 31, 2021. The PSUs will vest based on achieving 80% to 120% of the performance targets with the corresponding vested unit amount ranging from 30% to 200%. If the performance target is met at 100%, the PSU awards granted during the year ended December 31, 2019 will vest at 730,167 units in the aggregate. No PSUs will vest if Holdings does not achieve 80% of the three-year cumulative Adjusted EBITDA, diluted earnings per share, and net profit performance target. Additionally, unvested PSU’s shall be ratably forfeited upon termination of service prior to December 31, 2021. If service terminates prior to January 2, 2020, all unvested PSU’s shall be forfeited, if service terminates prior to January 2, 2021, 2/3 of unvested PSU’s shall be forfeited and if service terminates prior to January 4, 2022, 1/3 of unvested PSU’s shall be forfeited. The vested PSUs will be settled within 30 days of vesting which will occur upon certification of performance results by the Compensation Committee of the Board of Directors. A dividend equivalent equal to the amount paid in respect of one share of Class A common stock underlying the PSUs began to accrue with respect to the PSUs on the date of grant. Such accrued dividend equivalents are paid to the holder upon vesting of the PSUs. During the third quarter of 2019, the Company determined that achieving the three-year net profit performance thresholds of the 2019 Performance Stock Units was no longer probable and ceased accruing any additional expense on these units. At December 31, 2019, the Company determined that achieving the three-year net profit performance thresholds was improbable and reversed all previously recorded expense . If the Company later determines that the performance thresholds are probable, then historical expense would be reinstated, and the Company would resume recognizing expense. The Company did not recognize any expense for these awards in general and administrative: other expense, during the year ended December 31, 2019 and ceased accruing any expense on these units. During the year ended December 31, 2018, PSU awards were granted to certain members of management and executive officers with three-year cumulative net profit, Adjusted EBITDA, and diluted earnings per share performance target conditions and service conditions, covering a performance period beginning January 1, 2018 and ending on December 31, 2020. During the third quarter of 2019, the Company determined that achieving the three-year net profit performance thresholds of the 2018 Performance Stock Units was no longer probable and ceased accruing any additional expense on these units. At December 31, 2019, the Company determined that achieving the three-year net profit performance thresholds was improbable and reversed all previously recorded expense. If the Company later determines that the performance thresholds are probable, then historical expense would be reinstated, and the Company would resume recognizing expense. The Company reversed all previously recorded expense and recorded a credit for these awards of $5.8 million during the year ended December 31, 2019, which reversed the expense of $5.8 million recorded during the year ended December 31, 2018 in general and administrative: other expense and ceased accruing any additional expense on these units. During the year ended December 31, 2017, PSU awards were granted to certain members of management and executive officers with three-year cumulative net profit, Adjusted EBITDA, and diluted earnings per share performance target conditions and service conditions, covering a performance period beginning January 1, 2017 and ending on December 31, 2019. During the year ended December 31, 2017, the Company determined that achieving the three-year performance thresholds of the 2017 Performance Stock Units was improbable and reversed $1.8 million of stock-based compensation expense and ceased accruing any additional expense on these units. The Company did not recognize any further expense in years 2019 and 2018. During the year ended December 31, 2016, PSU awards were granted to certain members of management and executive officers, with both a three-year cumulative adjusted free cash flow and net earnings performance target condition and a service condition, covering a performance period beginning January 1, 2016 and ended on December 31, 2018. During the year ended December 31, 2017, the Company determined that achieving the three-year performance thresholds of the 2016 Performance Stock Units was improbable and reversed $2.0 million of stock-based compensation expense and ceased accruing any additional expense on these units. The Company did not recognize any further expense in 2018. ● Performance Stock Unit Executive Award Agreement: During the year ended December 31, 2019, a PSU market condition award of 300,000 was granted to an executive officer of the Company that will vest based upon achieving target prices for the Company’s common stock (“2019 PSU executive”). Achievement of the target prices will be determined using the volume weighted average closing price of the Company’s Class A common stock over a 20 trading-day period. Any unvested PSUs remaining after 10 years will be forfeited. If service is terminated prior to December 2, 2029, all unvested PSUs shall be forfeited. The target prices and vesting tranches are set forth in the table below: ​ ​ ​ ​ Target Stock Price ​ PSUs Vesting $15.00 ​ 75,000 $20.00 ​ 75,000 $25.00 ​ 75,000 $30.00 ​ 75,000 ​ The vested PSUs will be settled within 30 days The Company used the Monte Carlo simulation model to estimate the fair value of the PSUs. This model utilizes multiple input variables to estimate the probability that the market conditions will be achieved. The Company used the following assumptions in determining the fair value of the PSUs: ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, 2019 Expected stock price volatility ​ 45.0% Expected dividend yield ​ 9.23% Risk-free interest rate ​ 1.83% Grant-date stock price ​ $8.67 ​ The expected stock price volatility is based on the historical volatility of the Company’s stock for a period equivalent to the derived service period. The expected dividend yield is based on annual expected dividend payments. The risk-free interest rate is based on the treasury yield rates as of the date of grant for a period equivalent to the performance measurement period. The fair value of each PSU is amortized over the requisite or derived service period, which is up to 4.6 years. The PSUs granted during the year ended December 31, 2019 have a grant date fair value of $1.4 million. Since the award was granted in December 2019, the Company recognized an immaterial amount of expense for these awards in general and administrative: other expense, during the year ended December 31, 2019. ● Performance Stock Unit Transition Award: In recognition of the shift in 2016 from one-year to three-year performance periods for annual equity awards, on March 31, 2017, PSU transition awards were granted to certain members of management and executive officers, with net profit, Adjusted EBITDA, and diluted earnings per share performance target conditions and a service condition, covering a performance period beginning January 1, 2017 and ended on December 31, 2017. No PSU Transition Awards vested in 2017 as the Company did not meet the fiscal year 2017 net profit threshold, and as a result, all of the PSUTs were forfeited and the units were returned to the 2013 Employee Incentive Plan pool. The following table represents the nonvested RSU and PSU activity for the years ended December 31, 2019, December 31, 2018 and December 31, 2017: ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ Average ​ ​ Shares of RSU ​ Grant Date ​ ​ and PSU ​ Fair Value Beginning balance at January 1, 2017 ​ 556,510 ​ $ 24.88 Granted ​ 701,788 ​ ​ 31.23 Vested ​ (92,722) ​ ​ 24.88 Forfeited ​ (44,309) ​ ​ 28.68 Cancelled (1) ​ (37,426) ​ ​ 31.45 Beginning balance at January 1, 2018 ​ 1,083,841 ​ $ 28.61 Granted ​ 1,313,152 ​ ​ 15.65 Vested ​ (408,848) ​ ​ 21.68 Forfeited ​ (53,698) ​ ​ 20.69 Beginning balance at January 1, 2019 ​ 1,934,447 ​ $ 21.50 Granted ​ 1,960,334 ​ ​ 12.89 Vested ​ (303,201) ​ ​ 21.76 Forfeited ​ (220,632) ​ ​ 17.17 Cancelled ​ (100,855) ​ ​ 21.46 Nonvested at December 31, 2019 ​ 3,270,093 ​ $ 15.88 (1) No PSU Transition Awards vested as the Company did not achieve the adjusted free cash flow or net earnings minimum performance target. ​

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2019
INCOME TAXES
INCOME TAXES	NOTE 10—INCOME TAXES Current income tax expense represents the amounts expected to be reported on the Company’s income tax returns, and deferred tax expense or benefit represents the change in net deferred tax assets and liabilities. Deferred tax assets and liabilities are determined based on the difference between the financial statement and tax bases of assets and liabilities as measured by the enacted tax rates that will be in effect when these differences reverse. Valuation allowances are recorded as appropriate to reduce deferred tax assets to the amount considered likely to be realized. Management assesses the available positive and negative evidence to estimate whether sufficient future taxable income will be generated to permit use of the existing deferred tax assets. A significant piece of objective negative evidence evaluated was the cumulative loss incurred over the three-year period ended December 31, 2019 for domestic operations. Such objective evidence limits the ability to consider other subjective evidence, such as the Company’s projections for future taxable income. For the year ended December 31, 2019, the Company remained in a cumulative loss over the past three-year period. On the basis of this evaluation, for the year ended December 31, 2017, a valuation allowance of $221.6 million was established domestically on the Company’s net deferred tax assets and considering indefinite-lived intangibles. The amount of deferred tax asset considered realizable, however, could be adjusted if estimates of future taxable income is reduced or increased or if objective negative evidence in the form of cumulative losses is no longer present and additional weight is given to subjective evidence such as the Company’s projections for future taxable income. For the years ended December 31, 2019 and December 31, 2018, the Company maintained its domestic valuation allowance. An international valuation allowance previously established against deferred tax assets held in Spain was released in the fourth quarter of 2019 resulting in a $41.5 million benefit to income tax expense. A significant piece of objective positive evidence evaluated was a cumulative income position over a three-year period. Statutory taxable earnings that permit the use of these deferred tax assets, primarily net operating loss carryforwards, have stabilized to a profit position with significant improvement in 2019. Strategic initiatives have provided sufficient positive evidence that has resulted in the Company concluding the realization of these deferred tax assets is more likely than not. On December 22, 2017, the President of the United States signed into law H.R. 1 (the “Tax Reform Act”). The legislation significantly changes U.S. tax law by, among other things, lowering corporate income tax rates, limiting the amount of deductible interest expense, limiting executive compensation, implementing a territorial tax system, and imposing a repatriation tax on deemed repatriated earnings of foreign subsidiaries. The Tax Reform Act permanently reduces the U.S. corporate income tax rate from a maximum of 35% to a flat 21% rate, effective January 1, 2018. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to reverse. As a result of the reduction in the U.S. corporate income tax rate from 35% to 21% under the Tax Reform Act, the Company revalued its ending net deferred tax assets and related valuation allowance at December 31, 2017. As a result, the Company recognized a tax benefit of $121.8 million in the consolidated statement of operations for the year ended December 31, 2017. This tax benefit is comprised of $88.6 million of deferred tax expense associated with the revaluation of the Company’s net deferred tax assets, as reflected in the rate reconciliation, and $210.4 million of deferred tax benefit associated with the partial release of the Company’s valuation allowance as a result of the Tax Reform Act. The Company has assessed the deemed mandatory repatriation provisions of the Tax Reform Act, and is projecting no impact to current year domestic taxable income as it relates to undistributed earnings of its foreign subsidiaries. The Company does not intend to distribute earnings in a taxable manner, and therefore intends to limit distributions to earnings previously taxed in the U.S., or earnings that would qualify for the 100 percent dividends received deduction provided for in the Tax Reform Act, and earnings that would not result in any significant foreign taxes. As a result, the Company has not recognized a deferred tax liability on its investment in foreign subsidiaries. While the Tax Reform Act provides for a territorial tax system, beginning in 2018, it includes two new U.S. tax base erosion provisions, the global intangible low-taxed income (“GILTI”) provisions and the base-erosion and anti-abuse tax (“BEAT”) provisions. The GILTI provisions require the Company to include in its U.S. income tax return foreign subsidiary earnings in excess of an allowable return on the foreign subsidiary’s tangible assets. The Company does not expect it will be subject to this tax in the current and prior year and therefore has not included any tax impacts of GILTI in its consolidated financial statements for the years ended December 31, 2019 and December 31, 2018. The BEAT provisions in the Tax Reform Act eliminates the deduction of certain base-erosion payments made to related foreign corporations, and impose a minimum tax if greater than regular tax. The Company does not expect it will be subject to this tax in the current and prior year and therefore has not included any tax impacts of BEAT in its consolidated financial statements for the years ended December 31, 2019 and December 31, 2018. The income tax provision (benefit) reflected in the consolidated statements of operations consists of the following components: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended ​ (In millions) December 31, 2019 December 31, 2018 December 31, 2017 Current: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Federal ​ $ (0.1) ​ $ (0.5) ​ $ (13.4) ​ Foreign ​ 8.4 ​ 5.0 ​ 5.3 ​ State ​ 2.9 ​ 15.5 ​ 4.4 ​ Total current ​ 11.2 ​ 20.0 ​ (3.7) ​ Deferred: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Federal ​ (4.2) ​ 0.8 ​ 116.4 ​ Foreign ​ (42.8) ​ (7.5) ​ (5.5) ​ State ​ 13.3 ​ 0.3 ​ 46.9 ​ Total deferred ​ (33.7) ​ (6.4) ​ 157.8 ​ Total provision (benefit) ​ $ (22.5) ​ $ 13.6 ​ $ 154.1 ​ ​ The Company generated alternative minimum taxes for the year ended December 31, 2017, which fully offset the taxes due to the utilization of tax credits. Under the Tax Reform Act, alternative minimum tax credit will be refundable in the future. The Company has reclassed the alternative minimum tax credits from deferred tax assets to an income tax receivable. Pre-tax income (losses) consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended ​ (In millions) December 31, 2019 December 31, 2018 December 31, 2017 Domestic ​ $ (165.1) ​ $ 154.4 ​ $ (362.3) ​ Foreign ​ (6.5) ​ (30.7) ​ 29.2 ​ Total ​ $ (171.6) ​ $ 123.7 ​ $ (333.1) ​ ​ The difference between the effective tax rate on earnings (loss) from continuing operations before income taxes and the U.S. federal income tax statutory rate is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended ​ (In millions) December 31, 2019 December 31, 2018 December 31, 2017 Income tax expense (benefit) at the federal statutory rate ​ $ (36.0) ​ $ 26.0 ​ $ (116.6) ​ Effect of: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ State income taxes ​ (7.2) ​ 8.9 ​ (17.6) ​ Increase in reserve for uncertain tax positions ​ 8.4 ​ 5.2 ​ 2.1 ​ Federal and state credits ​ (6.5) ​ (5.9) ​ (5.2) ​ Permanent items - transaction costs ​ — ​ — ​ 2.0 ​ Permanent items - other ​ ​ (6.6) ​ ​ 5.7 ​ ​ (9.4) ​ Foreign rate differential ​ ​ 11.8 ​ ​ (5.9) ​ ​ (15.3) ​ Change in legislation ​ ​ — ​ ​ — ​ ​ 88.6 ​ Other ​ (10.6) ​ 9.7 ​ 4.9 ​ Valuation allowance ​ 24.2 ​ (30.1) ​ 220.6 ​ Income tax expense (benefit) ​ $ (22.5) ​ $ 13.6 ​ $ 154.1 ​ Effective income tax rate ​ 13.1 % 11.0 % (46.3) % ​ The valuation allowance expense reflected in the 2017 tax rate reconciliation of $220.6 million consists of the initial domestic recognition of $432.0 million, net of domestic reductions due to the tax reform act of $(210.4) million and changes due to international operations of $(1.0) million. The significant components of deferred income tax assets and liabilities as of December 31, 2019 and December 31, 2018 are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2019 ​ December 31, 2018 ​ ​ Deferred Income Tax ​ Deferred Income Tax (In millions) Assets Liabilities Assets Liabilities Tangible assets $ — $ (152.6) $ — $ (210.6) ​ ROU assets ​ ​ — ​ ​ (1,187.2) ​ ​ — ​ ​ — ​ Accrued liabilities ​ 17.0 ​ — ​ 13.6 ​ — ​ Intangible assets ​ — ​ (99.7) ​ — ​ (128.7) ​ Receivables ​ 7.8 ​ — ​ — ​ (3.7) ​ Investments ​ 17.8 ​ — ​ 12.0 ​ — ​ Capital loss carryforwards ​ 1.2 ​ — ​ 1.0 ​ — ​ Pension, postretirement and deferred compensation ​ 21.6 ​ — ​ 21.9 ​ — ​ Corporate borrowings ​ — ​ (101.8) ​ — ​ (111.6) ​ Disallowed interest ​ ​ 42.1 ​ ​ — ​ ​ 14.9 ​ ​ — ​ Deferred revenue ​ 170.8 ​ — ​ 201.7 ​ — ​ Lease liabilities ​ 1,377.7 ​ — ​ 165.6 ​ — ​ Capital and financing lease obligations ​ 2.4 ​ — ​ 118.5 ​ — ​ Other credit carryovers ​ 18.0 ​ — ​ 17.7 ​ — ​ Other comprehensive income ​ — ​ (1.0) ​ — ​ (1.0) ​ Net operating loss carryforwards ​ 202.8 ​ — ​ 199.3 ​ — ​ Total ​ $ 1,879.2 ​ $ (1,542.3) ​ $ 766.2 ​ $ (455.6) ​ Less: Valuation allowance ​ (312.8) ​ — ​ (323.6) ​ — ​ Net deferred income taxes ​ $ 1,566.4 ​ $ (1,542.3) ​ $ 442.6 ​ $ (455.6) ​ ​ A rollforward of the Company’s valuation allowance for deferred tax assets is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Additions ​ ​ ​ Charged ​ ​ ​ ​ ​ Balance at ​ Charged ​ Charged ​ (Credited) ​ ​ ​ ​ Beginning of ​ (Credited) ​ (Credited) to ​ to Other ​ Balance at (In millions) Period to Expenses Goodwill Accounts(1) End of Period Calendar Year 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Valuation allowance-deferred income tax assets ​ $ 323.6 ​ 24.2 ​ — ​ (35.0) ​ $ 312.8 Calendar Year 2018 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Valuation allowance-deferred income tax assets ​ $ 338.4 ​ (30.1) ​ — ​ 15.3 ​ $ 323.6 Calendar Year 2017 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Valuation allowance-deferred income tax assets ​ $ 112.2 ​ 220.6 ​ (9.1) ​ 14.7 ​ $ 338.4 (1) Primarily relates to amounts resulting from the Company’s changes in deferred tax assets and associated valuation allowance that are not related to income statement activity as well as amounts charged to other comprehensive income. In 2019, this includes $(28.6) million of valuation allowance associated with the sale of the Austria theatres. ​ The Company has federal income tax net operating loss carryforwards of $380.9 million. Approximately $290.9 million will begin to expire in 2020, and will completely expire in 2036, and will be limited annually due to certain change in ownership provisions of the Internal Revenue Code. Approximately $90.0 million can be used indefinitely. The Company’s foreign net operating losses of $487.2 million can be used indefinitely except for approximately $6.2 million, which will expire in various amounts between years 2022 and 2028. The Company also has state income tax loss carryforwards of $380.4 million. Approximately $374.0 million may be used over various periods ranging from 1 A reconciliation of the change in the amount of unrecognized tax benefits was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended ​ (In millions) December 31, 2019 December 31, 2018 December 31, 2017 ​ Balance at beginning of period ​ $ 22.0 ​ $ 15.3 ​ $ 12.7 ​ Gross increases—current period tax positions ​ 10.5 ​ 7.3 ​ 3.2 ​ Gross decreases—prior period tax positions ​ ​ (1.5) ​ ​ (0.6) ​ ​ 0.3 ​ Impact of legislation change ​ ​ — ​ ​ — ​ ​ (0.9) ​ Balance at end of period ​ $ 31.0 ​ $ 22.0 ​ $ 15.3 ​ ​ The Company recognizes income tax-related interest expense and penalties as income tax expense and general and administrative expense, respectively. No The Company analyzed and reviewed the remaining state uncertain tax positions to determine the necessity of accruing interest and penalties. For the years ended December 31, 2019 and December 31, 2018, the Company determined it is not necessary to accrue additional interest and penalties. The total amount of accrued interest and penalties for state uncertain tax positions at December 31, 2019 and December 31, 2018 related to prior years was $0.1 million and $0.1 million, respectively. The total amount of net unrecognized tax benefits at December 31, 2019 and December 31, 2018 that would impact the effective tax rate, if recognized, would be $12.2 million and $15.2 million, respectively. There are currently, unrecognized tax benefits which the Company anticipates will be resolved in the next 12 months; however, the Company is unable at this time to estimate what the impact on its unrecognized tax benefits will be. The Company or one of its subsidiaries files income tax returns in the U.S. federal jurisdiction, and various state and foreign jurisdictions. An IRS examination of the tax year March 29, 2012 is currently ongoing. Generally, tax years beginning after March 28, 2002 are still open to examination by various taxing authorities. Additionally, as discussed above, the Company has net operating loss (“NOL”) carryforwards for tax years ended December 31, 2001 through December 31, 2019, in the U.S. and various state jurisdictions which have carryforwards of varying lengths of time. These NOLs are subject to adjustment based on the statute of limitations applicable to the return in which they are utilized, not the year in which they are generated. Various state, local and foreign income tax returns are also under examination by taxing authorities. The Company does not believe that the outcome of any examination will have a material impact on its consolidated financial statements.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2019
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES	NOTE 11—COMMITMENTS AND CONTINGENCIES The Company, in the normal course of business, is a party to various ordinary course claims from vendors (including food and beverage suppliers and film distributors), landlords, competitors, and other legal proceedings. If management believes that a loss arising from these actions is probable and can reasonably be estimated, the Company records the amount of the loss, or the minimum estimated liability when the loss is estimated using a range and no point is more probable than another. As additional information becomes available, any potential liability related to these actions is assessed and the estimates are revised, if necessary. Management believes that the ultimate outcome of such matters discussed below, individually and in the aggregate, will not have a material adverse effect on the Company’s financial position or overall trends in results of operations. However, litigation and claims are subject to inherent uncertainties and unfavorable outcomes can occur. An unfavorable outcome might include monetary damages. If an unfavorable outcome were to occur, there exists the possibility of a material adverse impact on the results of operations in the period in which the outcome occurs or in future periods. On January 12, 2018 and January 19, 2018, two putative federal securities class actions, captioned Hawaii Structural Ironworkers Pension Trust Fund v. AMC Entertainment Holdings, Inc., et al. Nichols v. AMC Entertainment Holdings, Inc., et al. May 30, 2018, the court consolidated the Actions. On January 22, 2019, the defendants moved to dismiss the Second Amended Class Action Complaint. On September 23, 2019, the court granted the motion to dismiss in part and denied it in part. On May 21, 2018, a stockholder derivative complaint, captioned Gantulga v. Aron, et al. Gantulga v. Aron, et al. On October 2, 2019, a stockholder derivative complaint, captioned Kenna v. Aron On April 22, 2019, a putative stockholder class and derivative complaint, captioned Lao v. Dalian Wanda Group Co., Ltd., The Company remains contingently liable for lease payments under certain leases of theatres that it previously divested, in the event that such assignees are unable to fulfill their future lease payment obligations. Due to the variety of remedies available, the Company believes that if the current tenant defaulted on the leases it would not have a material effect on the Company’s financial condition, results of operations or cash flows. ​

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	12 Months Ended
	Dec. 31, 2019
FAIR VALUE MEASUREMENTS
FAIR VALUE MEASUREMENTS	NOTE 12—FAIR VALUE MEASUREMENTS ​ Fair value refers to the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants in the market in which the entity transacts business. The inputs used to develop these fair value measurements are established in a hierarchy, which ranks the quality and reliability of the information used to determine the fair values. The fair value classification is based on levels of inputs. Assets and liabilities that are carried at fair value are classified and disclosed in one of the following categories: ​ Level 1: Quoted market prices in active markets for identical assets or liabilities. Level 2: Observable inputs that are corroborated by market data. Level 3: Unobservable inputs that are not corroborated by market data. ​ Recurring Fair Value Measurements. The following table summarizes the fair value hierarchy of the Company’s financial assets carried at fair value on a recurring basis: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurements at December 31, 2019 Using ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Significant ​ Total Carrying Quoted prices in Significant other unobservable ​ ​ Value at ​ active market ​ observable inputs ​ inputs (In millions) ​ December 31, 2019 ​ (Level 1) ​ (Level 2) ​ (Level 3) Other long-term assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Money market mutual funds ​ $ 0.6 ​ $ 0.6 ​ $ — ​ $ — Derivative asset ​ ​ 38.0 ​ ​ — ​ ​ — ​ ​ 38.0 Investments measured at net asset value (1) ​ ​ 11.9 ​ — ​ — ​ — Equity securities, available-for-sale: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Investment in NCM ​ ​ 0.7 ​ ​ 0.7 ​ ​ — ​ ​ — Total assets at fair value ​ $ 51.2 ​ $ 1.3 ​ $ — ​ $ 38.0 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Corporate Borrowings: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivative liability ​ $ 0.5 ​ $ — ​ $ — ​ $ 0.5 Total liabilities at fair value ​ $ 0.5 ​ $ — ​ $ — ​ $ 0.5 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurements at December 31, 2018 Using ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Significant ​ Total Carrying Quoted prices in Significant other unobservable ​ ​ Value at ​ active market ​ observable inputs ​ inputs (In millions) ​ December 31, 2018 ​ (Level 1) ​ (Level 2) ​ (Level 3) Other long-term assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Money market mutual funds ​ $ 0.5 ​ $ 0.5 ​ $ — ​ $ — Derivative asset ​ ​ 55.7 ​ — ​ — ​ 55.7 Investments measured at net asset value(1) ​ ​ 9.6 ​ ​ — ​ ​ — ​ ​ — Total assets at fair value ​ $ 65.8 ​ $ 0.5 ​ $ — ​ $ 55.7 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Corporate Borrowings: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivative liability ​ $ 24.0 ​ $ — ​ $ — ​ $ 24.0 Total liabilities at fair value ​ $ 24.0 ​ $ — ​ $ — ​ $ 24.0 (1) The investments relate to a non-qualified deferred compensation arrangement on behalf of certain members of management. The Company has an equivalent liability for this related-party transaction recorded in other long-term liabilities for the deferred compensation obligation. Valuation Techniques. The Company’s money market mutual funds are invested in funds that seek to preserve principal, are highly liquid, and therefore are recorded on the balance sheet at the principal amounts deposited, which equals fair value. See Note 14 — On September 14, 2018, the Company issued Convertible Notes due 2024 with a conversion feature that gave rise to an embedded derivative instrument and a stock purchase and cancellation agreement that gave rise to a derivative asset (See Note 8 — Nonrecurring Fair Value Measurements. The following table summarizes the fair value hierarchy of the Company’s assets that were measured at fair value on a nonrecurring basis: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurements at December 31, 2019 Using ​ ​ ​ ​ ​ ​ Significant other Significant ​ ​ ​ ​ Total Carrying ​ Quoted prices in ​ observable ​ unobservable ​ ​ ​ ​ ​ Value at ​ active market ​ inputs ​ inputs ​ Total (In millions) December 31, 2019 (Level 1) (Level 2) (Level 3) Losses Property, net: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Property net ​ $ 29.2 ​ $ — ​ $ — ​ $ 29.2 ​ $ 23.1 Operating lease right-of-use assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating lease right-of-use assets ​ ​ 123.3 ​ ​ — ​ ​ — ​ ​ 123.3 ​ ​ 60.0 Other long-term assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Property owned, net ​ ​ 3.0 ​ ​ — ​ ​ — ​ ​ 3.0 ​ ​ 1.2 Equity interest investment ​ ​ 2.2 ​ ​ — ​ ​ — ​ ​ 2.2 ​ ​ 3.6 Total ​ $ 157.7 ​ $ — ​ $ — ​ $ 157.7 ​ ​ 87.9 ​ Long-lived assets held and used, operating lease right-of-use assets, a property held and not used, and an equity interest investment without a readibly determinable fair value were considered impaired and were written down to their fair value at December 31, 2019 of $157.7 million. There is considerable management judgment with respect to cash flow estimates and discount rates used in determining fair value, and therefore are classified as Level 3 measurements within the fair value measurement hierarchy. See Note 1 — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurements at December 31, 2018 Using ​ ​ ​ ​ ​ ​ ​ Significant other Significant ​ ​ ​ Total Carrying ​ Quoted prices in ​ observable ​ unobservable ​ ​ ​ ​ ​ Value at ​ active market ​ inputs ​ inputs ​ Total (In millions) December 31, 2018 (Level 1) (Level 2) (Level 3) Losses Property, net: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Property owned, net ​ $ 17.3 ​ $ — ​ $ — ​ $ 17.3 ​ $ 13.8 ​ Long-lived assets held and used and a favorable lease were considered impaired and were written down to their fair value at December 31, 2018 of $17.3 million. Other Fair Value Measurement Disclosures. The following table summarizes the fair value of financial instruments that are not recognized at fair value in the statement of financial position for which it is practicable to estimate that value: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurements at December 31, 2019 Using ​ ​ ​ ​ Significant other Significant ​ ​ Total Carrying ​ Quoted prices in ​ observable ​ unobservable ​ ​ Value at ​ active market ​ inputs ​ inputs (In millions) ​ December 31, 2019 ​ (Level 1) ​ (Level 2) ​ (Level 3) Current maturities of corporate borrowings ​ $ 20.0 ​ $ — ​ $ 20.4 ​ $ — Corporate borrowings ​ 4,733.4 ​ — ​ 4,135.3 ​ ​ 514.9 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurements at December 31, 2018 Using ​ ​ ​ ​ ​ Significant other Significant ​ ​ Total Carrying ​ Quoted prices in ​ observable ​ unobservable ​ ​ Value at ​ active market ​ inputs ​ inputs (In millions) ​ December 31, 2018 ​ (Level 1) ​ (Level 2) ​ (Level 3) Current maturities of corporate borrowings ​ $ 15.2 ​ $ — ​ $ 13.4 ​ $ 1.4 Corporate borrowings ​ 4,707.8 ​ — ​ 3,909.2 ​ 475.2 ​ Valuation Technique. Quoted market prices and observable market based inputs were used to estimate fair value for level 2 inputs. The level 3 fair value measurement represents the transaction price of the corporate borrowings under market conditions. On September 14, 2018, the Company issued — ​ The carrying amounts of cash and cash equivalents, accounts receivable, accounts payable, and accrued liabilities approximate fair value because of the short maturity of these instruments.

OPERATING SEGMENTS

OPERATING SEGMENTS	12 Months Ended
	Dec. 31, 2019
OPERATING SEGMENTS
OPERATING SEGMENTS	NOTE 13—OPERATING SEGMENTS Segment Reporting ® Below is a breakdown of select financial information by reportable operating segment: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended Revenues (In millions) December 31, 2019 December 31, 2018 December 31, 2017 U.S. markets ​ $ 4,023.2 ​ $ 4,013.2 ​ $ 3,723.5 International markets ​ ​ 1,447.8 ​ ​ 1,447.6 ​ ​ 1,355.7 Total revenues ​ $ 5,471.0 ​ $ 5,460.8 ​ $ 5,079.2 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended Adjusted EBITDA (In millions) ​ December 31, 2019 December 31, 2018 ​ December 31, 2017 U.S. markets (1) ​ $ 575.6 ​ $ 700.5 ​ $ 610.0 International markets ​ ​ 195.8 ​ ​ 228.7 ​ ​ 212.5 Total Adjusted EBITDA ​ $ 771.4 ​ $ 929.2 ​ $ 822.5 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended Capital Expenditures (In millions) December 31, 2019 December 31, 2018 December 31, 2017 U.S. markets ​ $ 369.4 ​ $ 395.6 ​ $ 543.7 International markets ​ ​ 148.7 ​ ​ 180.7 ​ ​ 83.1 Total capital expenditures ​ $ 518.1 ​ $ 576.3 ​ $ 626.8 (1) The Company presents Adjusted EBITDA as a supplemental measure of its performance. The Company defines Adjusted EBITDA as net earnings (loss) plus (i) income tax provision, (ii) interest expense and (iii) depreciation and amortization, as further adjusted to eliminate the impact of certain items that the Company does not consider indicative of the Company’s ongoing operating performance and to include attributable EBITDA from equity investments in theatre operations in International markets and any cash distributions of earnings from its other equity method investees. The measure of segment profit and loss the Company uses to evaluate performance and allocate its resources is Adjusted EBITDA, which is consistent with how Adjusted EBITDA is defined in the Company’s debt indentures. (2) Distributions from NCM are reported entirely within the U.S. markets segment. Financial information about geographic area is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended Revenues (In millions) ​ December 31, 2019 ​ December 31, 2018 ​ December 31, 2017 United States ​ $ 4,023.2 ​ $ 4,013.2 ​ $ 3,723.5 United Kingdom ​ ​ 500.4 ​ ​ 513.5 ​ ​ 509.8 Spain ​ ​ 200.3 ​ ​ 193.9 ​ ​ 187.1 Italy ​ ​ 200.0 ​ ​ 178.5 ​ ​ 185.5 Sweden ​ ​ 177.5 ​ ​ 192.1 ​ ​ 154.2 Germany ​ ​ 135.0 ​ ​ 114.3 ​ ​ 129.7 Finland ​ ​ 103.0 ​ ​ 101.7 ​ ​ 77.3 Norway ​ ​ 37.9 ​ ​ 34.9 ​ ​ 17.7 Other foreign countries ​ ​ 93.7 ​ ​ 118.7 ​ ​ 94.4 Total ​ $ 5,471.0 ​ $ 5,460.8 ​ $ 5,079.2 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of ​ As of Long-term assets, net (In millions) ​ December 31, 2019 ​ December 31, 2018 United States ​ $ 9,039.6 ​ $ 5,826.5 International ​ ​ 3,963.1 ​ ​ 2,888.0 Total long-term assets (1) ​ $ 13,002.7 ​ $ 8,714.5 (1) Long-term assets are comprised of property, operating lease right-of-use assets, intangible assets, goodwill, deferred tax asset, net and other long-term assets. ​ ​ The following table sets forth a reconciliation of net earnings (loss) to Adjusted EBITDA: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended (In millions) December 31, 2019 December 31, 2018 ​ December 31, 2017 Net earnings (loss) ​ $ (149.1) ​ $ 110.1 ​ $ (487.2) Plus: ​ ​ ​ ​ ​ ​ ​ ​ ​ Income tax provision (benefit) ​ (22.5) ​ 13.6 ​ ​ 154.1 Interest expense ​ 340.8 ​ 342.3 ​ ​ 274.0 Depreciation and amortization ​ 450.0 ​ 537.8 ​ ​ 538.6 Impairment of long-lived assets ​ 84.3 ​ 13.8 ​ ​ 43.6 Certain operating expenses (1) ​ 14.8 ​ 24.0 ​ ​ 20.6 Equity in (earnings) loss of non-consolidated entities (2) ​ (30.6) ​ (86.7) ​ ​ 185.2 Cash distributions from non-consolidated entities (3) ​ 35.8 ​ 35.2 ​ ​ 45.4 Attributable EBITDA (4) ​ ​ 5.0 ​ ​ 7.3 ​ ​ 3.4 Investment income ​ (16.0) ​ (6.2) ​ ​ (22.6) Other expense (income) (5) ​ 13.3 ​ (108.2) ​ ​ (1.3) Non-cash rent - purchase accounting (6) ​ ​ 25.7 ​ ​ — ​ ​ — General and administrative — unallocated: ​ ​ ​ ​ ​ ​ ​ ​ ​ Merger, acquisition and other costs (7) ​ 15.5 ​ 31.3 ​ ​ 63.0 Stock-based compensation expense (8) ​ 4.4 ​ 14.9 ​ ​ 5.7 Adjusted EBITDA ​ $ 771.4 ​ $ 929.2 ​ $ 822.5 (1) Amounts represent preopening expense related to temporarily closed screens under renovation, theatre and other closure expense for the permanent closure of screens including the related accretion of interest, non-cash deferred digital equipment rent expense, and disposition of assets and other non-operating gains or losses included in operating expenses. The Company has excluded these items as they are non-cash in nature, include components of interest cost for the time value of money or are non-operating in nature. (2) During the years ended December 31, 2019 and December 31, 2018, the Company recorded $25.4 million and $29.1 million, respectively, in earnings from DCIP. During the year ended December 31, 2018, the Company recorded equity in earnings related to AMC’s sale of all remaining NCM units of $28.9 million and a gain of $30.1 million related to the Screenvision merger. Equity in earnings of non-consolidated entities also includes loss on the surrender (disposition) of a portion of AMC’s investment in NCM of $1.1 million and a lower of carrying value or fair value impairment loss of the held-for sale portion of the Company’s investment in NCM of $16.0 million for the year ended December 31 , 2018. During the year ended December 31, 2017, e quity in (earnings) loss of non-consolidated entities includes an other-than-temporary impairment charge of $208.0 million to reduce the carrying value of the Company’s investment in NCM to Level 1 fair value. An other-than-temporary impairment charge of $204.5 million was recorded on the Company’s units and shares at the publicly quoted per share price on June 30, 2017 of $7.42 and an other-than-temporary impairment charge of $3.5 million was recorded on the Company’s units and shares at the publicly quoted per share price on December 31, 2017 of $6.86 , based on the Company’s determination that the decline in the price per share during the respective quarters was other than temporary. Equity in (earnings) loss of non-consolidated entities includes loss on the sale of a portion of the Company’s investment in NCM of $22.2 million during the year ended December 31, 2017. (3) Includes U.S. non-theatre distributions from equity method investments and International non- theatre distributions from equity method investments to the extent received. The Company believes including cash distributions is an appropriate reflection of the contribution of these investments to the Company’s operations. (4) Attributable EBITDA includes the EBITDA from equity investments in theatre operators in certain International markets. See below for a reconciliation of the Company’s equity in (earnings) loss of non-consolidated entities to attributable EBITDA. Because these equity investments are in theatre operators in regions where the Company holds a significant market share, the Company believes attributable EBITDA is more indicative of the performance of these equity investments and management uses this measure to monitor and evaluate these equity investments. The Company also provides services to these theatre operators including information technology systems, certain on-screen advertising services and the Company’s gift card and package ticket program. As these investments relate only to the Company’s Nordic acquisition, the second quarter of 2017 represents the first time the Company has made this adjustment and does not impact prior historical presentations of Adjusted EBITDA. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended (In millions) December 31, 2019 December 31, 2018 ​ December 31, 2017 Equity in (earnings) loss of non-consolidated entities ​ $ (30.6) ​ $ (86.7) ​ $ 185.2 Less: ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity in (earnings) loss of non-consolidated entities excluding International theatre joint ventures ​ ​ (29.2) ​ ​ (81.9) ​ ​ 187.0 Equity in earnings of International theatre joint ventures ​ ​ 1.4 ​ ​ 4.8 ​ ​ 1.8 Income tax provision ​ ​ 0.4 ​ ​ 0.4 ​ ​ — Investment income ​ ​ (0.7) ​ ​ (0.5) ​ ​ — Depreciation and amortization ​ ​ 3.4 ​ ​ 2.6 ​ ​ 1.6 Other expense ​ ​ 0.5 ​ ​ — ​ ​ — Attributable EBITDA ​ $ 5.0 ​ $ 7.3 ​ $ 3.4 ​ (5) Other expense (income) for the year ended December 31, 2019 was primarily due to expense related to the repayment of indebtedness of $16.6 million, foreign currency transaction losses of $1.5 million, non-operating net periodic benefit cost of $1.2 million, and the decrease in fair value of the Company’s derivative asset for the contingent call option related to the Class B common stock purchase and cancellation agreement of $17.7 million, partially offset by a decrease in fair value of the Company’s derivative liability for the embedded conversion feature in its Convertible Notes due 2024 of $23.5 million. During the year ended December 31, 2018, the Company recorded a gain of $111.4 million as a result of a decrease in fair value of its derivative liability and an increase in fair value of the derivative asset for the Convertible Notes due 2024, partially offset by financing losses and financing related foreign currency transaction losses. O ther expense (income) for the year ended December 31, 2017 includes $3.0 million financing related foreign currency transaction gains, partially offset by $1.3 million in fees relating to third- party fees related to the Third Amendment to the Company’s Senior Secured Credit Agreement, and a $0.4 million loss on the redemption of the Bridge Loan Facility. (6) Reflects amortization of certain intangible assets reclassified from depreciation and amortization to rent expense, due to the adoption of ASC 842. (7) Merger, acquisition and other costs are excluded as they are non-operating in nature. (8) Non-cash or non-recurring expense included in general and administrative: other.

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE LOSS	12 Months Ended
	Dec. 31, 2019
ACCUMULATED OTHER COMPREHENSIVE LOSS
ACCUMULATED OTHER COMPREHENSIVE LOSS	NOTE 14—ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) ​ The following tables present the change in accumulated other comprehensive income (loss) by component: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized Net ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gain (Loss) ​ ​ ​ ​ ​ ​ ​ ​ ​ Pension and ​ from Equity ​ ​ ​ ​ ​ Foreign ​ Other ​ Method Investees’ ​ ​ ​ (In millions) Currency Benefits Cash Flow Hedge Total Balance, December 31, 2018 ​ $ 7.2 ​ $ (1.8) ​ $ 0.1 ​ $ 5.5 ​ Other comprehensive loss before reclassifications ​ (16.5) ​ (15.5) ​ (0.1) ​ (32.1) ​ Amounts reclassified from accumulated other comprehensive income ​ 0.5 ​ — ​ — ​ 0.5 ​ Balance, December 31, 2019 ​ $ (8.8) ​ $ (17.3) ​ $ — ​ $ (26.1) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized Net ​ Unrealized Net ​ ​ ​ ​ ​ ​ ​ ​ Pension and ​ Gain from ​ Gain from Equity ​ ​ ​ ​ ​ Foreign ​ Other ​ Marketable ​ Method Investees’ ​ ​ ​ (In millions) Currency Benefits Securities Cash Flow Hedge Total Balance, December 31, 2017 ​ $ 129.9 ​ $ (6.6) ​ $ 0.6 ​ $ 1.7 ​ $ 125.6 ​ Other comprehensive income (loss) before reclassifications ​ (127.7) ​ 4.2 ​ — ​ 0.2 ​ (123.3) ​ Amounts reclassified from accumulated other comprehensive income ​ ​ 1.0 ​ ​ — ​ ​ — ​ ​ (2.2) ​ ​ (1.2) ​ Other comprehensive income (loss) ​ ​ (126.7) ​ ​ 4.2 ​ ​ — ​ ​ (2.0) ​ ​ (124.5) ​ Adoption of ASU 2016-01 - reclassification to retained earnings ​ — ​ — ​ (0.6) ​ — ​ (0.6) ​ Adoption of ASU 2018-02 - reclassification to retained earnings ​ 4.0 ​ 0.6 ​ — ​ 0.4 ​ 5.0 ​ Balance, December 31, 2018 ​ $ 7.2 ​ $ (1.8) ​ $ — ​ $ 0.1 ​ $ 5.5 ​ ​ The tax effects allocated to each component of other comprehensive income (loss) is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended ​ ​ December 31, 2019 ​ December 31, 2018 ​ December 31, 2017 ​ ​ Tax ​ ​ Tax ​ ​ Tax ​ ​ ​ Pre-Tax ​ (Expense) ​ Net-of-Tax ​ Pre-Tax ​ (Expense) ​ Net-of-Tax ​ Pre-Tax ​ (Expense) ​ Net-of-Tax (In millions) ​ Amount ​ Benefit ​ Amount ​ Amount ​ Benefit ​ Amount ​ Amount ​ Benefit ​ Amount Unrealized foreign currency translation adjustment (1) ​ $ (18.3) ​ $ 1.8 ​ $ (16.5) ​ $ (127.5) ​ $ (0.2) ​ $ (127.7) ​ $ 142.6 ​ $ (10.9) ​ $ 131.7 Realized loss on foreign currency transactions ​ ​ 0.5 ​ ​ — ​ ​ 0.5 ​ ​ 1.0 ​ ​ — ​ ​ 1.0 ​ ​ — ​ ​ — ​ ​ — Pension and other benefit adjustments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net gain (loss) arising during the period ​ ​ (16.1) ​ ​ 0.6 ​ ​ (15.5) ​ ​ 3.8 ​ ​ 0.4 ​ ​ 4.2 ​ ​ (2.6) ​ ​ (0.4) ​ ​ (3.0) Marketable securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized net holding gain (loss) arising during the period ​ — ​ — ​ — ​ — ​ — ​ — ​ 1.2 ​ (0.5) ​ 0.7 Realized net gain reclassified into investment expense (income) ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ (0.6) ​ ​ 0.2 ​ ​ (0.4) Equity method investee's cash flow hedge: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized net holding gain (loss) arising during the period ​ (0.1) ​ — ​ (0.1) ​ 0.2 ​ — ​ 0.2 ​ — ​ — ​ — Realized net (gain) loss reclassified into equity in earnings of non-consolidated entities ​ ​ — ​ ​ — ​ ​ — ​ ​ (2.2) ​ ​ — ​ ​ (2.2) ​ ​ (1.5) ​ ​ 0.6 ​ ​ (0.9) Other comprehensive income (loss) ​ $ (34.0) ​ $ 2.4 ​ $ (31.6) ​ $ (124.7) ​ $ 0.2 ​ $ (124.5) ​ $ 139.1 ​ $ (11.0) ​ $ 128.1 (1) Deferred tax impacts of foreign currency translation for the international operations acquired during 2017 have not been recorded due to the Company’s intent to remain permanently invested.

EARNINGS (LOSS) PER SHARE

EARNINGS (LOSS) PER SHARE	12 Months Ended
	Dec. 31, 2019
LOSS PER SHARE
LOSS PER SHARE	NOTE 15—EARNINGS (LOSS) PER SHARE Basic earnings (loss) per share is computed by dividing net earnings (loss) by the weighted-average number of common shares outstanding. Diluted earnings per share includes the effects of unvested RSU’s with a service condition only and unvested contingently issuable RSUs and PSUs that have service and performance conditions, if dilutive, as well as potential dilutive shares from the conversion feature of the Convertible Notes due 2024, if dilutive. The following table sets forth the computation of basic and diluted earnings (loss) per common share: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended ​ Year Ended ​ Year Ended (In millions) December 31, 2019 December 31, 2018 December 31, 2017 Numerator: ​ ​ ​ ​ ​ ​ Net earnings (loss) for basic earnings (loss) per share ​ $ (149.1) ​ $ 110.1 ​ $ (487.2) Calculation of net earnings for diluted earnings (loss) per share: ​ ​ ​ ​ ​ ​ ​ ​ ​ Marked-to-market (gain) on derivative liability ​ ​ — ​ ​ (66.4) ​ ​ — Interest expense for Convertible Notes due 2024 ​ ​ — ​ ​ 9.7 ​ ​ — Net earnings (loss) available for diluted earnings ​ $ (149.1) ​ $ 53.4 ​ $ (487.2) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Denominator ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average shares for basic earnings per common share ​ 103,832 ​ 120,621 ​ 128,246 Common equivalent shares for RSUs and PSUs ​ — ​ 29 ​ — Common equivalent shares if converted: convertible notes 2024 ​ ​ — ​ ​ 9,455 ​ ​ — Weighted average shares for diluted earnings per common share ​ 103,832 ​ 130,105 ​ 128,246 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic earnings (loss) per common share: ​ $ (1.44) ​ $ 0.91 ​ $ (3.80) Diluted earnings (loss) per common share: ​ $ (1.44) ​ $ 0.41 ​ $ (3.80) ​ Vested RSUs and PSU’s have dividend rights identical to the Company’s Class A and Class B common stock and are treated as outstanding shares for purposes of computing basic and diluted earnings per share. Certain unvested RSUs and unvested PSUs are subject to performance conditions and are included in diluted earnings per share, if dilutive, based on the number of shares, if any, that would be issuable under the terms of the Company’s 2013 Equity Incentive Plan if the end of the reporting period were the end of the contingency period. During the years ended December 31, 2019 and December 31, 2018, unvested PSUs of 477,630 and 364,269, respectively, at the minimum performance target were not considered in the computation of diluted earnings per share because they would not be issuable if the end of the reporting period were the end of the contingency period and unvested RSU’s of 1,377,992 and 210,558, respectively, were not included in the computation of diluted earnings per share because they would be anti-dilutive. During the year ended December 31, 2017, unvested PSUs and Transition PSUs of 187,468 at the minimum performance target and unvested performance based RSU’s of 88,194 were not considered in the computation of diluted loss because they would anti-dilutive. The Company uses the if-converted method for calculating any potential dilutive effect of the Convertible Notes due 2024 that were issued on September 14, 2018. The Company has not adjusted net loss for the year ended December 31, 2019 to eliminate the interest expense of $32.6 million and the gain for the derivative liability related to the Convertible Notes due 2024 of $23.5 million, in the computation of diluted loss per share because the effects would be anti-dilutive. The Company has not included in diluted weighted average shares approximately 31.7 million shares issuable upon conversion for the year ended December 30, 2019, as the effects would be anti-dilutive. For the year ended December 31, 2018, the Company adjusted net earnings to eliminate the interest expense and the gain for the derivative liability related to the Convertible Notes due 2024 of $9.7 million and $66.4 million, respectively, in the computation of diluted earnings per share. The Company has included in diluted weighted average shares approximately 9.5 million shares issuable upon conversion for the year ended December 31, 2018, as the effects were dilutive. Based on the current conversion price of $18.95 per share, the Convertible Notes due 2024 are convertible into 31,662,269 Class A common shares.

SUPPLEMENTAL FINANCIAL INFORMAT

SUPPLEMENTAL FINANCIAL INFORMATION BY QUARTER (UNAUDITED)	12 Months Ended
	Dec. 31, 2019
SUPPLEMENTAL FINANCIAL INFORMATION By QUARTER (UNAUDITED)
SUPPLEMENTAL FINANCIAL INFORMATION BY QUARTER (UNAUDITED)	NOTE 16—SUPPLEMENTAL FINANCIAL INFORMATION BY QUARTER (UNAUDITED) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2019 ​ ​ Quarter ​ Quarter ​ Quarter ​ Quarter ​ Year ​ ​ Ended ​ Ended ​ Ended ​ Ended ​ Ended ​ ​ March 31, ​ June 30, ​ September 30, ​ December 31, ​ December 31, (In millions, except per share data) 2019 2019 2019 2019 2019 Total revenues ​ $ 1,200.4 ​ $ 1,506.1 ​ $ 1,316.8 ​ $ 1,447.7 ​ $ 5,471.0 Operating income (loss) ​ ​ (33.7) ​ ​ 105.5 ​ ​ 20.8 ​ ​ 43.4 ​ ​ 136.0 Net earnings (loss) ​ ​ (130.2) ​ ​ 49.4 ​ ​ (54.8) ​ ​ (13.5) ​ ​ (149.1) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic earnings (loss) per share: ​ $ (1.25) ​ $ 0.48 ​ $ (0.53) ​ $ (0.13) ​ $ (1.44) Diluted earnings (loss) per share: ​ $ (1.25) ​ $ 0.17 ​ $ (0.53) ​ $ (0.13) ​ $ (1.44) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average shares outstanding: (in thousands) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic ​ ​ 103,783 ​ ​ 103,845 ​ ​ 103,850 ​ ​ 103,850 ​ ​ 103,832 Diluted ​ ​ 103,783 ​ ​ 135,528 ​ ​ 103,850 ​ ​ 103,850 ​ ​ 103,832 (1) In the first, second, third, and fourth quarters of calendar 2019, the Company recorded $28.4 million, $(41.0) million, $(2.8) million, and $9.6 million, respectively, of other expense (income) related to derivative assets and liabilities. See Note 8 — Corporate Borrowings and Finance Lease Obligations for a discussion of the derivative asset and derivative liability gains. (2) During the fourth quarter of 2019, the Company recorded non-cash impairment of long-lived assets of $84.3 million on 40 theatres in the U.S. markets with 512 screens and on 14 theatres in the International markets with 148 screens, and one U.S. property held and not used. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2018 ​ ​ Quarter ​ Quarter ​ Quarter ​ Quarter ​ Year ​ ​ Ended ​ Ended ​ Ended ​ Ended ​ Ended ​ ​ March 31, ​ June 30, ​ September 30, ​ December 31, ​ December 31, (In millions, except per share data) 2018 2018 2018 2018 2018 Total revenues ​ $ 1,383.6 ​ $ 1,442.5 ​ $ 1,221.4 ​ $ 1,413.3 ​ $ 5,460.8 Operating income (loss) ​ 109.9 ​ 89.7 ​ (21.9) ​ 87.3 ​ 265.0 Net earnings (loss) ​ ​ 17.7 ​ ​ 22.2 ​ ​ (100.4) ​ ​ 170.6 ​ ​ 110.1 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic earnings (loss) per share: ​ $ 0.14 ​ $ 0.17 ​ $ (0.82) ​ $ 1.65 ​ $ 0.91 Diluted earnings (loss) per share: ​ $ 0.14 ​ $ 0.17 ​ $ (0.82) ​ $ 0.43 ​ $ 0.41 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average shares outstanding: (in thousands) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic ​ ​ 128,046 ​ ​ 128,039 ​ ​ 123,126 ​ ​ 103,514 ​ ​ 120,621 Diluted ​ ​ 128,046 ​ ​ 128,105 ​ ​ 123,126 ​ ​ 135,450 ​ ​ 130,105 (1) In the third and fourth quarters of calendar 2018, the Company recorded $54.1 million and $(165.5) million, respectively, of other expense (income) related to derivative assets and liabilities. See Note 8 — Corporate Borrowings and Finance Lease Obligations for a discussion of the derivative asset and derivative liability gains. (2) During the fourth quarter of calendar 2018, the Company recorded non-cash impairment losses of $13.8 million on 13 theatres in the U.S. markets with 150 screens and 15 theatres in the International markets with 118 screens. ​

ACQUISITIONS

ACQUISITIONS	12 Months Ended
	Dec. 31, 2019
ACQUISITIONS
ACQUISITION	NOTE 17—ACQUISITION ​ Nordic Cinema Group Holding AB ​ On March 28, 2017, the Company completed the acquisition of Nordic Cinema Group Holding AB (“Nordic”) for cash. The purchase price for Nordic was cash of SEK 5,756 million ($654.9 million), which includes payment of interest on the equity value and repayment of shareholder loans. As a result of the acquisition, the Company assumed the indebtedness of Nordic of approximately SEK 1,269 million ($144.4 million) and indebtedness of approximately €156 million ($169.5 million) as of March 28, 2017, which was refinanced subsequent to the acquisition. The Company also assumed approximately SEK 13.5 million ($1.6 million) and approximately €1.0 million ($1.1 million) of interest rate swaps related to the indebtedness which were repaid following the acquisition. All amounts have been converted into US Dollar amounts assuming an SEK/USD exchange rate of 0.11378 and an EUR/USD exchange rate of 1.0865, which were the exchange rates on March 27, 2017. The acquisition was being treated as a purchase in accordance with ASC Topic 805, Business Combinations, which requires allocation of the purchase price to the estimated fair values of assets and liabilities acquired in the transaction. The allocation of purchase price is based on management’s judgment after evaluating several factors, including a valuation assessment. The Company finalized the appraisals for both tangible and intangible assets and liabilities during the three months ended March 31, 2018. The following is a summary of the final allocation of the purchase price: ​ ​ ​ ​ ​ (In millions) Final Cash ​ $ 71.4 Restricted cash ​ ​ 5.9 Receivables ​ ​ 13.4 Other current assets ​ ​ 23.6 Property (1) ​ ​ 133.2 Intangible assets (1) (2) ​ ​ 22.1 Goodwill (3) ​ ​ 792.9 Deferred tax asset ​ ​ 0.9 Other long-term assets (6) ​ ​ 75.2 Accounts payable ​ ​ (30.2) Accrued expenses and other liabilities ​ ​ (36.1) Deferred revenues and income ​ ​ (41.2) Term Loan Facility (SEK) ​ ​ (144.4) Term Loan Facility (EUR) ​ ​ (169.5) Revolving Credit Facility (1) ​ ​ — Capital lease and financing lease obligations (1)(4) ​ ​ (10.0) Deferred tax liability ​ ​ (18.7) Other long-term liabilities (5) ​ ​ (33.6) Total estimated purchase price ​ $ 654.9 (1) (2) ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted Average ​ Gross (In millions) ​ Amortization Period ​ Carrying Amount Acquired intangible assets: ​ ​ ​ ​ ​ ​ Amortizable intangible assets: ​ ​ ​ ​ ​ ​ Favorable leases ​ ​ 7.0 years ​ $ 3.5 Favorable subleases ​ ​ 4.0 years ​ ​ 1.1 Screen advertising agreement ​ ​ 5.0 years ​ ​ 6.6 Trade name agreement ​ ​ 4.0 years ​ ​ 0.4 Total, amortizable ​ ​ 5.5 years ​ $ 11.6 Unamortized intangible assets: ​ ​ ​ ​ ​ ​ Trade names ​ ​ ​ ​ $ 10.5 ​ (3) (4) (5) (6) The fair value measurement of tangible and intangible assets and liabilities were based on significant inputs not observable in the market and thus represent Level 3 measurements within the fair value measurement hierarchy. Level 3 fair market values were determined using a variety of information, including estimated future cash flows, appraisals, and market comparables. The purchase price paid by the Company in the acquisition resulted in recognition of goodwill because it exceeded the estimated fair value of the assets acquired and liabilities assumed. The Company paid a price in excess of estimated fair value of the assets acquired and liabilities assumed because the acquisition of Nordic enhances its position as the largest movie exhibition company in Europe and broadens and diversifies its European platform. The Company also expects to realize synergy and cost savings related to the acquisition because of purchasing and procurement economies of scale. During the year ended December 31, 2018 and December 31, 2017, the Company incurred acquisition-related and transition costs for Nordic of approximately $1.5 million and $10.1 million, which were included in general and administrative expense: merger, acquisition and other costs in the consolidated statements of operations. Nordic was acquired on March 28, 2017 and the Company immediately began integrating the operations. ​

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2019
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS	NOTE 18— SUBSEQUENT EVENTS ​ Class B Holdings’ Board of Directors approved a modification to the 2018 and 2019 PSU awards in February 2020, which eliminated the net profit performance target threshold. The Company is currently evaluating the impact on its consolidated financial statements for the three months ended March 31, 2020. ​ ​

CONDENSED CONSOLIDATING FINANCI

CONDENSED CONSOLIDATING FINANCIAL INFORMATION	12 Months Ended
	Dec. 31, 2019
CONDENSED CONSOLIDATING FINANCIAL INFORMATION
CONDENSED CONSOLIDATING FINANCIAL INFORMATION	NOTE 19—CONDENSED CONSOLIDATING FINANCIAL INFORMATION ​ The accompanying condensed consolidating financial information has been prepared and presented pursuant to SEC Regulation S-X Rule 3-10, Financial statements of guarantors and issuers of guaranteed securities registered or being registered. Each of the subsidiary guarantors are 100% owned by Holdings. The subsidiary guarantees of the Company’s Convertible Notes due 2024, the Sterling Notes due 2024, the Notes due 2025, Notes due 2026, and the Notes due 2027 are full and unconditional and joint and several and subject to customary release provisions. The Company and its subsidiary guarantors’ investments in its consolidated subsidiaries are presented under the equity method of accounting. The condensed consolidating information for the guarantors/non-guarantors has been retrospectively revised based on the structure that exists as of December 31, 2019 and reflecting changes as a result of the Sixth Amendment. Consolidating Statement of Operations Year Ended December 31, 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Subsidiary ​ Subsidiary ​ Consolidating ​ Consolidated (In millions) ​ Holdings ​ Guarantors ​ Non-Guarantors ​ Adjustments ​ Holdings Revenues ​ ​ ​ ​ ​ Admissions ​ $ — ​ $ 2,388.2 ​ $ 913.1 ​ $ — ​ $ 3,301.3 Food and beverage ​ — ​ 1,348.0 ​ 371.6 ​ — ​ 1,719.6 Other theatre ​ — ​ 287.1 ​ 163.0 ​ — ​ 450.1 Total revenues ​ — ​ 4,023.3 ​ 1,447.7 ​ — ​ 5,471.0 Operating costs and expenses ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Film exhibition costs ​ — ​ 1,311.5 ​ 387.6 ​ — ​ 1,699.1 Food and beverage costs ​ — ​ 193.8 ​ 84.9 ​ — ​ 278.7 Operating expense, excluding depreciation and amortization ​ — ​ 1,215.5 ​ 471.1 ​ — ​ 1,686.6 Rent ​ — ​ 708.2 ​ 259.6 ​ — ​ 967.8 General and administrative: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Merger, acquisition and other costs ​ — ​ 6.5 ​ 9.0 ​ — ​ 15.5 Other, excluding depreciation and amortization ​ — ​ 86.4 ​ 66.6 ​ — ​ 153.0 Depreciation and amortization ​ — ​ 340.4 ​ 109.6 ​ — ​ 450.0 Impairment of long-lived assets ​ ​ — ​ ​ 76.6 ​ ​ 7.7 ​ ​ — ​ ​ 84.3 Operating costs and expenses ​ — ​ 3,938.9 ​ 1,396.1 ​ — ​ 5,335.0 Operating income ​ — ​ 84.4 ​ 51.6 ​ — ​ 136.0 Other expense (income): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity in net loss of subsidiaries ​ 382.9 ​ 151.3 ​ — ​ (534.2) ​ — Other expense (income) ​ ​ (5.2) ​ ​ 18.5 ​ ​ 0.1 ​ ​ — ​ ​ 13.4 Interest expense: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Corporate borrowings ​ 290.8 ​ 293.0 ​ 3.0 ​ (294.0) ​ 292.8 Financing lease obligations ​ — ​ 2.3 ​ 5.3 ​ — ​ 7.6 Non-cash NCM exhibitor service agreement ​ ​ — ​ ​ 40.4 ​ ​ — ​ ​ — ​ ​ 40.4 Intercompany interest expense ​ ​ — ​ ​ — ​ ​ 244.1 ​ ​ (244.1) ​ ​ — Equity in earnings of non-consolidated entities ​ — ​ (29.1) ​ (1.5) ​ — ​ (30.6) Investment income ​ (519.4) ​ (21.0) ​ (13.7) ​ 538.1 ​ (16.0) Total other expense, net ​ 149.1 ​ 455.4 ​ 237.3 ​ (534.2) ​ 307.6 Loss before income taxes ​ (149.1) ​ (371.0) ​ (185.7) ​ 534.2 ​ (171.6) Income tax provision (benefit) ​ — ​ 11.9 ​ (34.4) ​ — ​ (22.5) Net loss ​ $ (149.1) ​ $ (382.9) ​ $ (151.3) ​ $ 534.2 ​ $ (149.1) ​ ​ Consolidating Statement of Operations Year Ended December 31, 2018: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Subsidiary ​ Subsidiary ​ Consolidating ​ Consolidated (In millions) ​ Holdings ​ Guarantors ​ Non-Guarantors ​ Adjustments ​ Holdings Revenues ​ ​ ​ ​ ​ Admissions ​ $ — ​ $ 2,441.5 ​ $ 943.5 ​ $ — ​ $ 3,385.0 Food and beverage ​ — ​ 1,321.3 ​ 350.2 ​ — ​ 1,671.5 Other theatre ​ — ​ 250.4 ​ 153.9 ​ — ​ 404.3 Total revenues ​ — ​ 4,013.2 ​ 1,447.6 ​ — ​ 5,460.8 Operating costs and expenses ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Film exhibition costs ​ — ​ 1,323.1 ​ 387.1 ​ — ​ 1,710.2 Food and beverage costs ​ — ​ 190.3 ​ 80.6 ​ — ​ 270.9 Operating expense, excluding depreciation and amortization ​ — ​ 1,162.2 ​ 492.5 ​ — ​ 1,654.7 Rent ​ — ​ 584.4 ​ 213.4 ​ — ​ 797.8 General and administrative: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Merger, acquisition and other costs ​ — ​ 16.8 ​ 14.5 ​ — ​ 31.3 Other, excluding depreciation and amortization ​ — ​ 112.5 ​ 66.8 ​ — ​ 179.3 Depreciation and amortization ​ — ​ 384.0 ​ 153.8 ​ — ​ 537.8 Impairment of long-lived assets ​ ​ — ​ ​ 8.1 ​ ​ 5.7 ​ ​ — ​ ​ 13.8 Operating costs and expenses ​ — ​ 3,781.4 ​ 1,414.4 ​ — ​ 5,195.8 Operating income ​ — ​ 231.8 ​ 33.2 ​ — ​ 265.0 Other expense (income): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity in net earnings of subsidiaries ​ (14.5) ​ (13.7) ​ — ​ 28.2 ​ — Other expense (income) ​ ​ (110.5) ​ ​ 1.7 ​ ​ 0.7 ​ ​ — ​ ​ (108.1) Interest expense: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Corporate borrowings ​ 256.7 ​ 263.1 ​ 5.9 ​ (263.4) ​ 262.3 Capital and financing lease obligations ​ — ​ 17.2 ​ 21.3 ​ — ​ 38.5 Non-cash NCM exhibitor service agreement ​ ​ — ​ ​ 41.5 ​ ​ — ​ ​ — ​ ​ 41.5 Equity in earnings of non-consolidated entities ​ — ​ (81.5) ​ (5.2) ​ — ​ (86.7) Investment income ​ (241.8) ​ (27.1) ​ (0.7) ​ 263.4 ​ (6.2) Total other expense (income), net ​ (110.1) ​ 201.2 ​ 22.0 ​ 28.2 ​ 141.3 Earnings before income taxes ​ 110.1 ​ 30.6 ​ 11.2 ​ (28.2) ​ 123.7 Income tax provision (benefit) ​ — ​ 16.1 ​ (2.5) ​ — ​ 13.6 Net earnings ​ $ 110.1 ​ $ 14.5 ​ $ 13.7 ​ $ (28.2) ​ $ 110.1 ​ ​ ​ ​ ​ ​ Consolidating Statement of Operations Year Ended December 31, 2017: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Subsidiary ​ Subsidiary ​ Consolidating ​ Consolidated (In millions) ​ Holdings ​ Guarantors ​ Non-Guarantors ​ Adjustments ​ Holdings Revenues ​ ​ ​ ​ ​ Admissions ​ $ — ​ $ 2,330.9 ​ $ 898.6 ​ $ — ​ $ 3,229.5 Food and beverage ​ — ​ 1,220.1 ​ 328.3 ​ — ​ 1,548.4 Other theatre ​ — ​ 172.5 ​ 128.8 ​ — ​ 301.3 Total revenues ​ — ​ 3,723.5 ​ 1,355.7 ​ — ​ 5,079.2 Operating costs and expenses ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Film exhibition costs ​ — ​ 1,224.7 ​ 379.6 ​ — ​ 1,604.3 Food and beverage costs ​ — ​ 176.6 ​ 75.5 ​ — ​ 252.1 Operating expense, excluding depreciation and amortization ​ — ​ 1,100.6 ​ 447.4 ​ — ​ 1,548.0 Rent ​ — ​ 594.0 ​ 200.4 ​ — ​ 794.4 General and administrative: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Merger, acquisition and other costs ​ — ​ 58.3 ​ 4.7 ​ — ​ 63.0 Other, excluding depreciation and amortization ​ 2.0 ​ 82.7 ​ 48.5 ​ — ​ 133.2 Depreciation and amortization ​ — ​ 404.2 ​ 134.4 ​ — ​ 538.6 Impairment of long-lived assets ​ — ​ ​ 43.6 ​ ​ — ​ ​ — ​ ​ 43.6 Operating costs and expenses ​ 2.0 ​ 3,684.7 ​ 1,290.5 ​ — ​ 4,977.2 Operating income (loss) ​ (2.0) ​ 38.8 ​ 65.2 ​ — ​ 102.0 Other expense (income): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity in net (earnings) loss of subsidiaries ​ 472.5 ​ (45.1) ​ — ​ (427.4) ​ — Other expense (income) ​ ​ — ​ ​ (1.7) ​ ​ 0.2 ​ ​ — ​ ​ (1.5) Interest expense: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Corporate borrowings ​ 230.3 ​ 239.0 ​ 1.3 ​ (239.0) ​ 231.6 Capital and financing lease obligations ​ — ​ 20.0 ​ 22.4 ​ — ​ 42.4 Equity in earnings of non-consolidated entities ​ — ​ 187.8 ​ (2.6) ​ — ​ 185.2 Investment income ​ (217.6) ​ (43.0) ​ (1.0) ​ 239.0 ​ (22.6) Total other expense, net ​ 485.2 ​ 357.0 ​ 20.3 ​ (427.4) ​ 435.1 Earnings (loss) before income taxes ​ (487.2) ​ (318.2) ​ 44.9 ​ 427.4 ​ (333.1) Income tax provision (benefit) ​ — ​ 154.3 ​ (0.2) ​ — ​ 154.1 Net earnings (loss) ​ $ (487.2) ​ $ (472.5) ​ $ 45.1 ​ $ 427.4 ​ $ (487.2) ​ ​ Consolidating Statement of Comprehensive Loss Year Ended December 31, 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Subsidiary ​ Subsidiary ​ Consolidating ​ Consolidated (In millions) Holdings Guarantors Non-Guarantors Adjustments Holdings Net loss $ (149.1) $ (382.9) $ (151.3) $ 534.2 $ (149.1) ​ Other comprehensive income (loss): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity in other comprehensive loss of subsidiaries ​ (31.6) ​ 17.2 ​ — ​ 14.4 ​ — ​ Unrealized foreign currency translation adjustment, net of tax ​ ​ — ​ (44.1) ​ 27.6 ​ — ​ (16.5) ​ Realized loss on foreign currency transactions, net of tax ​ — ​ 0.5 ​ — ​ — ​ 0.5 ​ Pension and other benefit adjustments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net loss arising during the period, net of tax ​ ​ — ​ ​ (5.1) ​ ​ (10.4) ​ ​ — ​ ​ (15.5) ​ Equity method investee's cash flow hedge: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized net holding loss arising during the period, net of tax ​ — ​ (0.1) ​ — ​ — ​ (0.1) ​ Other comprehensive income (loss) ​ (31.6) ​ (31.6) ​ 17.2 ​ 14.4 ​ (31.6) ​ Total comprehensive loss ​ $ (180.7) ​ $ (414.5) ​ $ (134.1) ​ $ 548.6 ​ $ (180.7) ​ ​ ​ ​ Consolidating Statement of Comprehensive Loss Year Ended December 31, 2018: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Subsidiary ​ Subsidiary ​ Consolidating ​ Consolidated (In millions) Holdings Guarantors Non-Guarantors Adjustments Holdings Net earnings $ 110.1 $ 14.5 $ 13.7 $ (28.2) $ 110.1 ​ Other comprehensive loss: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity in other comprehensive loss of subsidiaries ​ (124.5) ​ (99.1) ​ — ​ 223.6 ​ — ​ Unrealized foreign currency translation adjustment, net of tax ​ — ​ (30.7) ​ (97.0) ​ — ​ (127.7) ​ Realized loss on foreign currency transactions reclassified into other expense, net of tax ​ ​ — ​ ​ 1.0 ​ ​ — ​ ​ — ​ ​ 1.0 ​ Pension and other benefit adjustments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net gain (loss) arising during the period, net of tax ​ — ​ 6.3 ​ (2.1) ​ — ​ 4.2 ​ Equity method investee's cash flow hedge: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized net holding gain arising during the period, net of tax ​ — ​ 0.2 ​ — ​ — ​ 0.2 ​ Realized net gain reclassified to equity in earnings of non-consolidated entities, net of tax ​ — ​ (2.2) ​ — ​ — ​ (2.2) ​ Other comprehensive loss ​ (124.5) ​ (124.5) ​ (99.1) ​ 223.6 ​ (124.5) ​ Total comprehensive loss ​ $ (14.4) ​ $ (110.0) ​ $ (85.4) ​ $ 195.4 ​ $ (14.4) ​ ​ ​ Consolidating Statement of Comprehensive Income (Loss) Year Ended December 31, 2017: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Subsidiary ​ Subsidiary ​ Consolidating ​ Consolidated (In millions) Holdings Guarantors Non-Guarantors Adjustments Holdings Net earnings (loss) $ (487.2) $ (472.5) $ 45.1 $ 427.4 $ (487.2) Other comprehensive income (loss) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity in other comprehensive income of subsidiaries ​ 128.1 ​ 112.1 ​ — ​ (240.2) ​ — Unrealized foreign currency translation adjustment, net of tax ​ — ​ 22.0 ​ 109.7 ​ — ​ 131.7 Pension and other benefit adjustments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net gain (loss) arising during the period, net of tax ​ — ​ (5.4) ​ 2.4 ​ — ​ (3.0) Marketable securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized net holding gain arising during the period, net of tax ​ — ​ 0.7 ​ — ​ — ​ 0.7 Realized net gain reclassified into net investment income, net of tax ​ — ​ (0.4) ​ — ​ — ​ (0.4) Equity method investee's cash flow hedge: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Realized net gain reclassified into equity in earnings of non-consolidated entities, net of tax ​ — ​ (0.9) ​ — ​ — ​ (0.9) Other comprehensive income ​ 128.1 ​ 128.1 ​ 112.1 ​ (240.2) ​ 128.1 Total comprehensive income (loss) ​ $ (359.1) ​ $ (344.4) ​ $ 157.2 ​ $ 187.2 ​ $ (359.1) ​ ​ Consolidating Balance Sheet As of December 31, 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Subsidiary ​ Subsidiary ​ Consolidating ​ Consolidated (In millions) ​ Holdings ​ Guarantors ​ Non-Guarantors ​ Adjustments ​ Holdings Assets ​ ​ ​ ​ ​ Current assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and cash equivalents ​ $ 0.3 ​ $ 94.9 ​ $ 169.8 ​ $ — ​ $ 265.0 Restricted cash ​ ​ — ​ ​ — ​ ​ 10.5 ​ ​ — ​ ​ 10.5 Receivables, net ​ — ​ 160.1 ​ 104.0 ​ (9.9) ​ 254.2 Other current assets ​ — ​ 108.5 ​ 34.9 ​ — ​ 143.4 Total current assets ​ 0.3 ​ 363.5 ​ 319.2 ​ (9.9) ​ 673.1 Investment in equity of subsidiaries ​ 452.6 ​ 1,962.8 ​ — ​ (2,415.4) ​ — Property, net ​ — ​ 1,969.3 ​ 679.9 ​ — ​ 2,649.2 Operating lease right-of-use assets, net ​ ​ — ​ ​ 3,491.8 ​ ​ 1,304.2 ​ ​ — ​ ​ 4,796.0 Intangible assets, net ​ — ​ 130.6 ​ 64.7 ​ — ​ 195.3 Intercompany advances ​ 5,488.0 ​ (5,097.7) ​ (390.3) ​ — ​ — Goodwill ​ (2.1) ​ 3,074.7 ​ 1,716.5 ​ — ​ 4,789.1 Deferred tax asset, net ​ — ​ — ​ 70.1 ​ — ​ 70.1 Other long-term assets ​ 47.4 ​ 328.0 ​ 127.6 ​ — ​ 503.0 Total assets ​ $ 5,986.2 ​ $ 6,223.0 ​ $ 3,891.9 ​ $ (2,425.3) ​ $ 13,675.8 Liabilities and Stockholders’ Equity ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accounts payable ​ $ — ​ $ 382.8 ​ $ 170.5 ​ $ (10.0) ​ $ 543.3 Accrued expenses and other liabilities ​ 18.6 ​ 184.0 ​ 121.9 ​ 0.1 ​ 324.6 Deferred revenues and income ​ — ​ 348.9 ​ 100.3 ​ — ​ 449.2 Current maturities of corporate borrowings ​ 20.0 ​ — ​ — ​ — ​ 20.0 Current maturities of finance lease liabilities ​ ​ — ​ ​ 5.3 ​ ​ 5.0 ​ ​ — ​ ​ 10.3 Current maturities of operating lease liabilities ​ ​ — ​ ​ 449.5 ​ ​ 136.3 ​ ​ — ​ ​ 585.8 Total current liabilities ​ 38.6 ​ 1,370.5 ​ 534.0 ​ (9.9) ​ 1,933.2 Corporate borrowings ​ 4,733.4 ​ — ​ — ​ — ​ 4,733.4 Finance lease liabilities ​ — ​ 13.9 ​ 75.7 ​ — ​ 89.6 Operating lease liabilities ​ ​ — ​ ​ 3,666.8 ​ ​ 1,247.0 ​ ​ ​ ​ ​ 4,913.8 Exhibitor services agreement ​ — ​ 549.7 ​ — ​ — ​ 549.7 Deferred tax liability, net ​ ​ — ​ ​ 26.8 ​ ​ 19.2 ​ ​ — ​ ​ 46.0 Other long-term liabilities ​ — ​ 142.7 ​ 53.2 ​ — ​ 195.9 Total liabilities ​ 4,772.0 ​ 5,770.4 ​ 1,929.1 ​ (9.9) ​ 12,461.6 Stockholders’ equity ​ 1,214.2 ​ 452.6 ​ 1,962.8 ​ (2,415.4) ​ 1,214.2 Total liabilities and stockholders’ equity ​ $ 5,986.2 ​ $ 6,223.0 ​ $ 3,891.9 ​ $ (2,425.3) ​ $ 13,675.8 ​ ​ Consolidating Balance Sheet As of December 31, 2018: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Subsidiary ​ Subsidiary ​ Consolidating ​ Consolidated (In millions) ​ Holdings ​ Guarantors ​ Non-Guarantors ​ Adjustments ​ Holdings Assets ​ ​ ​ ​ ​ Current assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and cash equivalents ​ $ 0.3 ​ $ 177.8 ​ $ 135.2 ​ $ — ​ $ 313.3 Restricted cash ​ ​ — ​ ​ — ​ ​ 10.7 ​ ​ — ​ ​ 10.7 Receivables, net ​ — ​ 163.0 ​ 100.9 ​ (4.4) ​ 259.5 Other current assets ​ — ​ 140.7 ​ 57.1 ​ — ​ 197.8 Total current assets ​ 0.3 ​ 481.5 ​ 303.9 ​ (4.4) ​ 781.3 Investment in equity of subsidiaries ​ 719.0 ​ 1,430.1 ​ — ​ (2,149.1) ​ — Property, net ​ — ​ 2,152.3 ​ 887.3 ​ — ​ 3,039.6 Intangible assets, net ​ — ​ 225.6 ​ 126.5 ​ — ​ 352.1 Intercompany advances ​ 5,362.3 ​ (4,512.3) ​ (850.0) ​ — ​ — Goodwill ​ (2.1) ​ 3,074.7 ​ 1,716.1 ​ — ​ 4,788.7 Deferred tax asset, net ​ — ​ — ​ 28.6 ​ — ​ 28.6 Other long-term assets ​ 59.8 ​ 316.2 ​ 129.5 ​ — ​ 505.5 Total assets ​ $ 6,139.3 ​ $ 3,168.1 ​ $ 2,341.9 ​ $ (2,153.5) ​ $ 9,495.8 Liabilities and Stockholders’ Equity ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accounts payable ​ $ — ​ $ 327.2 ​ $ 129.9 ​ $ (4.5) ​ $ 452.6 Accrued expenses and other liabilities ​ 31.5 ​ 197.5 ​ 149.4 ​ 0.1 ​ 378.5 Deferred revenues and income ​ — ​ 314.0 ​ 100.8 ​ — ​ 414.8 Current maturities of corporate borrowings ​ ​ 13.8 ​ ​ 1.4 ​ ​ — ​ ​ — ​ ​ 15.2 Current maturities of capital and financing lease obligations ​ — ​ 38.6 ​ 28.4 ​ — ​ 67.0 Total current liabilities ​ 45.3 ​ 878.7 ​ 408.5 ​ (4.4) ​ 1,328.1 Corporate borrowings ​ 4,696.0 ​ — ​ 11.8 ​ — ​ 4,707.8 Capital and financing lease obligations ​ — ​ 194.3 ​ 298.9 ​ — ​ 493.2 Exhibitor services agreement ​ — ​ 564.0 ​ — ​ — ​ 564.0 Deferred tax liability, net ​ ​ — ​ ​ 17.7 ​ ​ 23.9 ​ ​ — ​ ​ 41.6 Other long-term liabilities ​ — ​ 794.4 ​ 168.7 ​ — ​ 963.1 Total liabilities ​ 4,741.3 ​ 2,449.1 ​ 911.8 ​ (4.4) ​ 8,097.8 Temporary equity ​ 0.4 ​ — ​ — ​ — ​ 0.4 Stockholders’ equity ​ 1,397.6 ​ 719.0 ​ 1,430.1 ​ (2,149.1) ​ 1,397.6 Total liabilities and stockholders’ equity ​ $ 6,139.3 ​ $ 3,168.1 ​ $ 2,341.9 ​ $ (2,153.5) ​ $ 9,495.8 ​ ​ Consolidating Statement of Cash Flows Year Ended December 31, 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Subsidiary ​ Subsidiary ​ Consolidating ​ Consolidated (In millions) ​ Holdings ​ Guarantors ​ Non-Guarantors ​ Adjustments ​ Holdings Cash flows from operating activities: ​ ​ ​ ​ ​ Net cash provided by operating activities ​ $ 51.1 ​ $ 316.6 ​ $ 211.3 ​ $ — ​ $ 579.0 Cash flows from investing activities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Capital expenditures ​ — ​ (369.4) ​ (148.7) ​ — ​ (518.1) Acquisition of theatre assets ​ ​ — ​ ​ (11.8) ​ ​ — ​ ​ — ​ ​ (11.8) Proceeds from disposition of long-term assets ​ — ​ 7.9 ​ 15.3 ​ — ​ 23.2 Investments in non-consolidated entities, net ​ — ​ (0.1) ​ (9.6) ​ — ​ (9.7) Other, net ​ — ​ 0.3 ​ — ​ — ​ 0.3 Net cash used in investing activities ​ — ​ (373.1) ​ (143.0) ​ — ​ (516.1) Cash flows from financing activities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Proceeds from issuance of Term Loan due 2026 ​ ​ 1,990.0 ​ ​ — ​ ​ — ​ ​ — ​ ​ 1,990.0 Payment of principal Senior Secured Notes due 2023 ​ ​ (230.0) ​ ​ — ​ ​ — ​ ​ — ​ ​ (230.0) Payment of principal Senior Subordinated Notes due 2022 ​ ​ (375.0) ​ ​ — ​ ​ — ​ ​ — ​ ​ (375.0) Call premiums paid for Senior Secured Notes due 2023 and Senior Subordinated Notes due 2022 ​ ​ (15.9) ​ ​ — ​ ​ — ​ ​ — ​ ​ (15.9) Principal payments under Term Loans due 2022 and 2023 ​ (1,338.5) ​ — ​ — ​ — ​ (1,338.5) Repayments under Revolving Credit Facility ​ ​ — ​ ​ — ​ ​ (12.0) ​ ​ — ​ ​ (12.0) Scheduled principal payments under Term Loans ​ ​ (21.9) ​ ​ — ​ ​ — ​ ​ — ​ ​ (21.9) Principal payments under finance lease obligations ​ ​ — ​ ​ (6.1) ​ ​ (4.8) ​ ​ — ​ ​ (10.9) Principal payments under promissory note ​ ​ — ​ ​ (1.4) ​ ​ — ​ ​ — ​ ​ (1.4) Cash used to pay deferred financing fees ​ (11.9) ​ — ​ — ​ — ​ (11.9) Cash used to pay dividends ​ (84.1) ​ — ​ — ​ — ​ (84.1) Taxes paid for restricted unit withholdings ​ ​ (1.3) ​ ​ — ​ ​ — ​ ​ — ​ ​ (1.3) Change in intercompany advances ​ ​ 16.1 ​ ​ 3.1 ​ ​ (19.2) ​ ​ — ​ ​ — Net cash used in financing activities ​ (72.5) ​ (4.4) ​ (36.0) ​ — ​ (112.9) Effect of exchange rate changes on cash and cash equivalents and restricted cash ​ 21.4 ​ (22.0) ​ 2.1 ​ — ​ 1.5 Net increase (decrease) in cash and cash equivalents and restricted cash ​ ​ — ​ (82.9) ​ 34.4 ​ — ​ (48.5) Cash and cash equivalents and restricted cash at beginning of period ​ 0.3 ​ 177.8 ​ 145.9 ​ — ​ 324.0 Cash and cash equivalents and restricted cash at end of period ​ $ 0.3 ​ $ 94.9 ​ $ 180.3 ​ $ — ​ $ 275.5 ​ ​ Consolidating Statement of Cash Flows Year Ended December 31, 2018: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Subsidiary ​ Subsidiary ​ Consolidating ​ Consolidated (In millions) ​ Holdings Guarantors ​ Non-Guarantors ​ Adjustments ​ Holdings Cash flows from operating activities: ​ ​ ​ ​ ​ Net cash provided by operating activities ​ $ 7.2 ​ $ 369.8 ​ $ 146.2 ​ $ — ​ $ 523.2 Cash flows from investing activities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Capital expenditures ​ — ​ (395.5) ​ (180.8) ​ — ​ (576.3) Proceeds from sale leaseback transactions ​ ​ — ​ ​ 50.1 ​ ​ — ​ ​ — ​ ​ 50.1 Proceeds from disposition of NCM ​ ​ — ​ ​ 162.5 ​ ​ — ​ ​ — ​ ​ 162.5 Proceeds from Screenvision merger ​ ​ — ​ ​ 45.8 ​ ​ — ​ ​ — ​ ​ 45.8 Proceeds from disposition of long-term assets ​ ​ — ​ ​ 8.5 ​ ​ 5.7 ​ ​ — ​ ​ 14.2 Investments in non-consolidated entities, net ​ — ​ (11.4) ​ — ​ — ​ (11.4) Other, net ​ — ​ (3.6) ​ 1.5 ​ — ​ (2.1) Net cash used in investing activities ​ — ​ (143.6) ​ (173.6) ​ — ​ (317.2) Cash flows from financing activities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Proceeds from issuance of convertible note due 2024 ​ ​ 600.0 ​ ​ — ​ ​ — ​ ​ — ​ ​ 600.0 Net borrowings under revolving credit facilities ​ ​ — ​ ​ — ​ ​ 12.1 ​ ​ — ​ ​ 12.1 Scheduled principal payments under Term Loans ​ (13.8) ​ — ​ — ​ — ​ (13.8) Principal payments under capital and financing lease obligations ​ ​ — ​ ​ (39.8) ​ ​ (31.2) ​ ​ — ​ ​ (71.0) Principal payments under promissory note ​ ​ — ​ ​ (1.4) ​ ​ — ​ ​ — ​ ​ (1.4) Cash used to pay deferred financing fees ​ (15.5) ​ — ​ — ​ — ​ (15.5) Cash used to pay dividends ​ (258.1) ​ — ​ — ​ — ​ (258.1) Taxes paid for restricted unit withholdings ​ ​ (1.7) ​ ​ — ​ ​ — ​ ​ — ​ ​ (1.7) Retirement of Class B common stock ​ ​ (423.6) ​ ​ — ​ ​ — ​ ​ — ​ ​ (423.6) Purchase of treasury stock ​ ​ (21.8) ​ ​ — ​ ​ — ​ ​ — ​ ​ (21.8) Change in intercompany advances ​ ​ 167.1 ​ ​ (144.7) ​ ​ (22.4) ​ ​ — ​ ​ — Net cash provided by (used in) financing activities ​ 32.6 ​ (185.9) ​ (41.5) ​ — ​ (194.8) Effect of exchange rate changes on cash and cash equivalents and restricted cash ​ (40.6) ​ 41.6 ​ (6.5) ​ — ​ (5.5) Net increase (decrease) in cash and cash equivalents and restricted cash ​ ​ (0.8) ​ 81.9 ​ (75.4) ​ — ​ 5.7 Cash and cash equivalents and restricted cash at beginning of period ​ 1.1 ​ 95.9 ​ 221.3 ​ — ​ 318.3 Cash and cash equivalents and restricted cash at end of period ​ $ 0.3 ​ $ 177.8 ​ $ 145.9 ​ $ — ​ $ 324.0 ​ ​ Consolidating Statement of Cash Flows Year Ended December 31, 2017: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Subsidiary ​ Subsidiary ​ Consolidating ​ Consolidated (In millions) ​ Holdings Guarantors ​ Non-Guarantors ​ Adjustments ​ Holdings Cash flows from operating activities: ​ ​ ​ ​ ​ Net cash provided by (used in) operating activities ​ $ (10.2) ​ $ 364.3 ​ $ 183.3 ​ $ — ​ $ 537.4 Cash flows from investing activities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Capital expenditures ​ — ​ (543.8) ​ (83.0) ​ — ​ (626.8) Acquisition of Nordic Cinemas Group, net of cash and restricted cash acquired ​ ​ — ​ ​ (654.9) ​ ​ 77.3 ​ ​ — ​ ​ (577.6) Proceeds from sale leaseback transactions ​ ​ — ​ ​ 136.2 ​ ​ — ​ ​ — ​ ​ 136.2 Proceeds from disposition of NCM ​ ​ — ​ ​ 89.0 ​ ​ — ​ ​ — ​ ​ 89.0 Proceeds from disposition of Open Road ​ — ​ 9.2 ​ — ​ — ​ 9.2 Proceeds (disbursements) from disposition of long-term assets ​ ​ — ​ 34.9 ​ (10.8) ​ — ​ 24.1 Investments in non-consolidated entities, net ​ — ​ (11.1) ​ — ​ — ​ (11.1) Other, net ​ — ​ (2.1) ​ (0.2) ​ — ​ (2.3) Net cash used in investing activities ​ — ​ (942.6) ​ (16.7) ​ — ​ (959.3) Cash flows from financing activities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Proceeds from the issuance of Senior Subordinated Sterling Notes due 2024 ​ ​ 327.8 ​ ​ — ​ ​ — ​ ​ — ​ ​ 327.8 Proceeds from the issuance of Senior Subordinated Notes due 2027 ​ ​ 475.0 ​ ​ — ​ ​ — ​ ​ — ​ ​ 475.0 Payment of Nordic SEK Term Loan ​ ​ (144.4) ​ ​ — ​ ​ — ​ ​ — ​ ​ (144.4) Payment of Nordic EUR Term Loan ​ ​ (169.5) ​ ​ — ​ ​ — ​ ​ — ​ ​ (169.5) Net proceeds from equity offering ​ ​ 616.8 ​ ​ — ​ ​ — ​ ​ — ​ ​ 616.8 Principal payment of Bridge Loan due 2017 ​ ​ (350.0) ​ ​ — ​ ​ — ​ ​ — ​ ​ (350.0) Scheduled principal payments under Term Loans ​ ​ (12.6) ​ ​ — ​ ​ — ​ ​ — ​ ​ (12.6) Principal payments under capital and financing lease obligations ​ ​ — ​ ​ (41.6) ​ ​ (29.1) ​ — ​ ​ (70.7) Principal payments under promissory note ​ ​ — ​ ​ (1.4) ​ ​ — ​ — ​ (1.4) Cash used to pay deferred financing fees ​ ​ (29.8) ​ ​ — ​ ​ (3.8) ​ ​ — ​ ​ (33.6) Cash used to pay dividends ​ (104.6) ​ — ​ — ​ — ​ (104.6) Taxes paid for restricted unit withholdings ​ ​ (6.5) ​ ​ — ​ — ​ — ​ ​ (6.5) Purchase of treasury stock ​ ​ (34.0) ​ ​ — ​ — ​ — ​ ​ (34.0) Change in intercompany advances ​ ​ (616.7) ​ ​ 662.1 ​ ​ (45.4) ​ ​ — ​ ​ — Net cash provided by (used) in financing activities ​ (48.5) ​ 619.1 ​ (78.3) ​ — ​ 492.3 Effect of exchange rate changes on cash and equivalents ​ 56.8 ​ (53.5) ​ 14.4 ​ — ​ 17.7 Net increase (decrease) in cash and equivalents ​ ​ (1.9) ​ (12.7) ​ 102.7 ​ — ​ 88.1 Cash and equivalents at beginning of period ​ 3.0 ​ 108.6 ​ 118.6 ​ — ​ 230.2 Cash and equivalents at end of period ​ $ 1.1 ​ $ 95.9 ​ $ 221.3 ​ $ — ​ $ 318.3 ​

THE COMPANY AND SIGNIFICANT A_2

THE COMPANY AND SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2019
THE COMPANY AND SIGNIFICANT ACCOUNTING POLICIES
Use of Estimates	Use of Estimates. The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Principles of Consolidation	Principles of Consolidation. The consolidated financial statements include the accounts of Holdings and all subsidiaries, as discussed above. All significant intercompany balances and transactions have been eliminated in consolidation. There are no noncontrolling interests in the Company’s consolidated subsidiaries; consequently, all of its stockholders’ equity, net earnings (loss) and comprehensive income (loss) for the periods presented are attributable to controlling interests. The Company manages its business under two reportable segments for its theatrical exhibition operations, U.S. Theatres and International Theatres.
Revenues	Revenues. The Company recognizes income from non-redeemed or partially redeemed gift cards in proportion to the pattern of rights exercised by the customer (“proportional method”) where it applies an estimated non-redemption rate for its gift card sales channels, which range from 12% to 18% of the current month sales of gift cards, and the Company recognizes in other theatre revenues the total amount of expected income for non-redemption for that current month’s sales as income over the next 24 months in proportion to the pattern of actual redemptions. The Company has determined its non-redeemed rates and redemption patterns using data accumulated over ten years. Prior to January 1, 2018, income for non-redeemed exchange tickets were recognized 18 months after purchase when the redemption of these items was determined to be remote. At January 1, 2018, the Company changed its method for recognizing income from non-redeemed exchange tickets to the proportional method, where it applies a non-redemption rate of 10% to the current month sales, and the Company recognizes the total amount of income for that current month’s sales as income over the next 24 months in proportion to the pattern of actual redemptions. Management believes the 24-month Prior to January 1, 2018, the Company recorded online ticket fee revenues net of third-party commission or service fees. In accordance with ASC 606 guidance, the Company believes that it is a principal (as opposed to agent) in the arrangement with third-party internet ticketing companies in regard to the sale of online tickets because the Company controls the online tickets before they are transferred to the customer. Upon adoption of ASC 606 on January 1, 2018, the Company recognizes ticket fee revenues based on a gross transaction price. The online ticket fee revenues and the third-party commission or service fees are recorded in the line items other theatre revenues and operating expense, respectively, in the consolidated statements of operations. These changes did not have any impact on net income or cash flows from operations.
Film Exhibition Costs	Film Exhibition Costs. Film exhibition costs are accrued based on the applicable box office receipts and estimates of the final settlement to the film licensors. Film exhibition costs include certain advertising costs. As of December 31, 2019 and December 31, 2018, the Company recorded film payables of $166.5 million and $168.6 million, respectively, which are included in accounts payable in the accompanying consolidated balance sheets.
Food and Beverage Costs	Food and Beverage Costs. The Company records rebate payments from vendors as a reduction of food and beverage costs when earned.
Exhibitor Services Agreement	Exhibitor Services Agreement. —
Customer Frequency Program	Customer Engagement Programs. AMC Stubs ® TM ® TM TM TM The portion of the admissions and food and beverage revenues attributed to the rewards is deferred as a reduction of admissions and food and beverage revenues and is allocated between admissions and food and beverage revenues based on expected member redemptions. Upon redemption, deferred rewards are recognized as revenues along with associated cost of goods. Converted rewards not redeemed within nine months are forfeited and recognized as admissions or food and beverage revenues. Prior to January 1, 2018, rewards for expired memberships were forfeited based upon specified periods of inactivity of the membership and recognized as admissions or food and beverage revenues. As of January 1, 2018, the Company changed its method for recognizing forfeited rewards from the remote method to the proportional method, where the Company estimates point breakage in assigning value to the points at the time of sale based on historical trends. The program’s annual membership fee is allocated to the material rights for discounted or free products and services and is initially deferred, net of estimated refunds, and recognized as the rights are redeemed based on estimated utilization, over the one-year membership period in admissions, food and beverage, and other revenues. A portion of the revenues related to a material right are deferred as a virtual rewards performance obligation using the relative standalone selling price method and are recognized as the rights are redeemed or expire. On June 20, 2018, the Company announced the launch of AMC Stubs ® ® of between $19.95 and $23.95 depending upon geographic market. Revenue is recognized ratably over the enrollment period.
Advertising Costs	Advertising Costs. The Company expenses advertising costs as incurred and does not have any direct-response advertising recorded as assets. Advertising costs were $42.6 million, $45.4 million, and $39.9 million for the years ended December 31, 2019, December 31, 2018, and December 31, 2017, respectively, and are recorded in operating expense in the accompanying consolidated statements of operations.
Cash and Equivalents	Cash and Equivalents. All highly liquid debt instruments and investments purchased with an original maturity of three months or less are classified as cash equivalents.
Derivative Asset and Liability	Derivative Asset and Liability. — — —
Intangible Assets	Intangible Assets. Intangible assets were recorded at fair value for intangible assets resulting from the acquisition of Holdings by Wanda on August 30, 2012 and other theatre acquisitions. Intangible assets are comprised of amounts assigned to theatre leases acquired under favorable terms, management contracts, a contract with an equity method investee, and a non-compete agreement, each of which are being amortized on a straight-line basis over the estimated remaining useful lives of the assets. Favorable leases that were previously classified as intangible assets were reclassified as an addition to the opening right-of-use (“ROU”) asset balances, as a result of adopting The Company first assesses the qualitative factors to determine whether the existence of events and circumstances indicate that it is more likely than not the fair value of an indefinite-lived intangible asset is less than its carrying amount as a basis for determining whether it is necessary to perform the quantitative impairment test. As a result, there were no
Investments	Investments. The Company accounts for its investments in non-consolidated entities using either the cost or equity methods of accounting as appropriate, and has recorded the investments within other long-term assets in its consolidated balance sheets. Equity earnings and losses are recorded when the Company’s ownership interest provides the Company with significant influence. The Company follows the guidance in ASC 323-30-35-3, investment in a limited liability company, which prescribes the use of the equity method for investments where the Company has significant influence. The Company classifies gains and losses on sales of investments or impairments accounted for using the cost method in investment income. Gains and losses on cash sales are recorded using the weighted average cost of all interests in the investments. Gains and losses related to non-cash negative common unit adjustments are recorded using the weighted average cost of those units in NCM. See Note 6 — ownership interest in four U.S. motion picture theatres and approximately 50% ownership interest in 55 theatres in Europe. Indebtedness held by equity method investees is non-recourse to the Company.
Goodwill	Goodwill. Goodwill represents the excess of purchase price over fair value of net tangible and identifiable intangible assets related to the acquisition of Holdings by Wanda on August 30, 2012 and subsequent theatre business acquisitions. Prior to January 1, 2019, the Company had three reporting units, Domestic Theatres, Odeon Theatres and Nordic Theatres. Effective January 1, 2019, the Company combined the Odeon Theatres and Nordic Theatres into a single reporting unit, International Theatres, to reflect how the international business is now managed. The Company tested goodwill for impairment both prior to and subsequent to the combining of these reporting units into the single reporting unit. The Company’s recorded goodwill was $4,789.1 million and $4,788.7 million as of December 31, 2019 and December 31, 2018, respectively. The Company evaluates goodwill and its indefinite-lived trademark and trade names for impairment annually as of the beginning of the fourth quarter and any time an event occurs or circumstances change that would more likely than not reduce the fair value for a reporting unit below its carrying amount. A decline in the common stock price and the resulting impact on market capitalization is one of several factors considered when making this evaluation. Based on recent sustained declines in the trading price of the Company’s Class A common stock, the Company performed a quantitative goodwill impairment test of the Domestic and International reporting units as of September 30, 2019. In performing the annual impairment test, the Company has an option to first assess the qualitative factors to determine whether it is more likely than not that the fair value of its reporting units are less than the carrying values. Otherwise, the Company must perform a quantitative impairment test. The impairment test for goodwill involves estimating the fair value of the reporting unit and comparing that value to its carrying value. If the estimated fair value of the reporting unit is less than its carrying value, the difference is recorded as goodwill impairment charge, not to exceed the total amount of goodwill allocated to that reporting unit. In performing the quantitative goodwill impairment test as of September 30, 2019, the Company used an enterprise value approach to measure fair value of the reporting units, as compared to an equity value approach used previously. This change in estimate is preferable due to the impact of the change in the capital structure of the Domestic Theatres reporting unit late in the third quarter of 2018 as a result of the issuance of $600 million of the Company’s Senior Unsecured Notes due 2024, the negative equity value carrying amount for the Domestic Theatres reporting unit, and the decline in the market capitalization since May 2019, which has increased the Company’s leverage ratio. See additional discussion in Note 6 — The enterprise fair values of the Domestic Theatres and International Theatres reporting units exceeded their carrying values by approximately 9.9% and 11.8%, respectively. Accordingly, there was no goodwill impairment recorded as of September 30, 2019. In accordance with ASC 350-20-35-30, goodwill of a reporting unit shall be tested for impairment between annual tests if an event occurs or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying amount. The Company performed an assessment to determine whether there were any events or changes in circumstances that would warrant an interim ASC 350 impairment analysis as of December 31, 2019. Given the further decline in the Company’s stock price during the fourth quarter of 2019, the Company performed a qualitative impairment test to evaluate whether it is more likely than not that the fair value of its two reporting units are less than their respective carrying amounts as of December 31, 2019. The Company compared its projected financial information and assumptions utilized in the quantitative analysis as of September 30, 2019 to the fourth quarter results noting operating performance is consistent with the projections and there have been no other changes which would impact management’s conclusion that the fair values of its reporting units exceed their carrying values. The Company also observed that its estimated fair value of its corporate borrowings and finance lease obligations remained relatively consistent from September 30, 2019 to December 31, 2019, which represents approximately 80% of the Company’s market enterprise value. The Company observed higher enterprise value control premiums for a recent acquisition agreement in its industry than those utilized for the market approach. In considering the totality of the aforementioned factors together with the excess of fair value over carrying value calculated in both its reporting units in the previous impairment test, the Company has concluded that it is not more likely than not that the fair values of its two reporting units have been reduced below their respective carrying amounts. As a result, the Company concluded that an interim quantitative impairment test as of December 31, 2019 was not required. The Domestic Theatres reporting unit to which $3.1 billion of goodwill is allocated had a negative equity value carrying amount as of December 31, 2019. As of December 31, 2018, the Company assessed qualitative factors for both of its reporting units and reached a determination that it is not more likely than not that the fair value of the Company’s reporting units are less than their carrying values, and therefore impairment analysis during the fourth quarter of calendar 2018 and the third quarter and fourth quarter of calendar 2017. In all of these impairment tests, the Company reached a determination that there was no goodwill impairment.
Other Long-term Assets	Other Long-term Assets. Other long-term assets are comprised principally of investments in partnerships and joint ventures, costs incurred in connection with the Company’s line-of-credit revolving credit arrangement, which is being amortized to interest expense using the effective interest rate method over the respective life of the issuance, and capitalized computer software, which is amortized over the estimated useful life of the software. See Note 7 —
Accounts Payable	Accounts Payable. Under the Company’s cash management system, checks issued but not presented to banks frequently result in book overdraft balances for accounting purposes and are classified within accounts payable in the balance sheet. The change in book overdrafts are reported as a component of operating cash flows for accounts payable as they do not represent bank overdrafts. The amount of these checks included in accounts payable as of December 31, 2019 and December 31, 2018 was $40.9 million and $42.6 million, respectively.
Leases	Leases. The The Company leases theatres and equipment under operating and finance leases. The majority of the Company’s operations are conducted in premises occupied under lease agreements with initial base terms ranging generally from 12 20 years Operating lease right-of-use assets and lease liabilities were recognized at commencement date based on the present value of minimum lease payments over the remaining lease term. The minimum lease payments include base rent and other fixed payments, including fixed maintenance costs. The Company’s leases have remaining lease terms of approximately 1 year to 25 years, which may include the option to extend the lease when it is reasonably certain the Company will exercise that option. The present value of the lease payments is calculated using the incremental borrowing rate for operating leases, which was determined using a portfolio approach based on the rate of interest that the Company would have to pay to borrow an amount equal to the lease payments on a collateralized basis over a similar term. Operating lease expense is recognized on a straight-line basis over the lease term. The Company elected the practical expedient to not separate lease and non-lease components and also elected the short-term practical expedient for all leases that qualify. As a result, the Company will not recognize right-of-use assets or liabilities for short-term leases that qualify for the short-term practical expedient, but instead will recognize the lease payments as lease cost on a straight-line basis over the lease term. The Company’s lease agreements do not contain residual value guarantees. Short-term leases and sublease arrangements are immaterial. Equipment leases primarily consist of digital projectors and food and beverage equipment. As a result of adopting ASC 842, the Company’s consolidated balance sheet includes additional operating lease ROU assets and total operating lease liabilities of $4,796.0 million and $5,499.6 million, respectively, at December 31, 2019. The difference between the lease ROU assets and total lease liabilities upon initial measurement at January 1, 2019 was primarily due to the reclassification of: (i) deferred rent, landlord allowances, unfavorable lease balances, and theatre closure liabilities previously recorded in other long-term liabilities; (ii) current portions of theatre closure liabilities previously recorded in accrued expenses and other liabilities; (iii) favorable lease balances previously recorded in intangible assets; and, (iv) prepaid rents recorded in other current assets within the consolidated balance sheets as an offset or addition to the opening lease ROU asset balances, as required by ASC 842.
Sale and Leaseback Transactions	Sale Leaseback Transactions. Prior to adopting ASC 842 on January 1, 2019, the Company deferred gains on sale leaseback transactions and amortized the gains over the remaining lease term. Losses on sale leaseback transactions were recognized at the time of sale if the fair value of the property sold is less than the net book value of the property. On June 18, 2018, the Company completed the sale leaseback of the real estate assets associated with one theatre for proceeds, net of closing costs, of $50.1 million and the deferred gain on the sale was approximately $27.3 million. On September 14, 2017, the Company completed the sale leaseback of the real estate assets associated with seven theatres for proceeds net of closing costs of $128.4 million and the deferred gain on sale was approximately $78.2
Impairment of Long-lived Assets	Impairment of Long-lived Assets. The Company reviews long-lived assets, including definite-lived intangibles and theatre assets (including operating lease right-of-use assets) whenever events or changes in circumstances indicate that the carrying amount of the asset group may not be fully recoverable. The Company identifies impairments related to internal use software when management determines that the remaining carrying value of the software will not be realized through future use. The Company evaluates events or circumstances, including competition in the markets where it operates, that would indicate the carrying value of theatre assets may not be fully recoverable. If an event or circumstance is identified indicating carrying value may not be recoverable, the sum of future undiscounted cash flows is compared to the carrying value. If the carrying value exceeds the future undiscounted cash flows, the carrying value of the asset is reduced to fair value, with the difference recognized as an impairment charge. Assets are evaluated for impairment on an individual theatre basis, which management believes is the lowest level for which there are identifiable cash flows. The Company evaluates theatres using historical and projected data of theatre level cash flow as its primary indicator of potential impairment and considers the seasonality of its business when making these evaluations. The fair value of assets is determined as either the expected selling price less selling costs (where appropriate) or the present value of the estimated future cash flows, adjusted as necessary for market participant factors. There is considerable management judgment necessary to determine the estimated future cash flows and fair values of the Company’s theatres and other long-lived assets, and, accordingly, actual results could vary significantly from such estimates, which fall under Level 3 within the fair value measurement hierarchy, see Note 12 — The following table summarizes the Company’s assets that were impaired: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended ​ ​ ​ December 31, ​ December 31, ​ December 31, ​ (In millions) 2019 2018 2017 Impairment of long-lived assets ​ $ 84.3 ​ $ 13.8 ​ $ 43.6 ​ Investment expense ​ ​ 3.6 ​ ​ — ​ ​ — ​ Total impairment loss ​ $ 87.9 ​ $ 13.8 ​ $ 43.6 ​ ​ During calendar 2019, the Company recorded an impairment of long-lived assets loss of $84.3 million on 40 theatres in the U.S. markets with 512 screens and 14 theatres with 148 screens in the International markets, which was related to property held and used, operating lease right-of-use assets, and a U.S. property held and not used in other long-term assets. In addition, the Company recorded an impairment loss of $3.6 million within investment expense (income), related to an equity interest investment without a readily determinable fair value accounted for under the cost method. During calendar 2018, the Company recorded an impairment of long-lived assets loss of $13.8 million on 13 theatres in the U.S. markets with 150 screens and 15 theatres with 118 screens in the International markets which was related to property held and used. During calendar 2017, the Company recorded an impairment of long-lived assets loss of $43.6 million on 12 theatres in the U.S. markets with 179 screens which was related to property held and used.
Foreign Currency Translation	Foreign Currency Translation. Operations outside the United States are generally measured using the local currency as the functional currency. Assets and liabilities are translated at the rates of exchange at the balance sheet date. Income and expense items are translated at average rates of exchange. The resultant translation adjustments are included in foreign currency translation adjustment, a separate component of accumulated other comprehensive income (loss). Gains and losses from foreign currency transactions, except those intercompany transactions of a long-term investment nature, and the Company’s £500.0 million, 6.375% Senior Subordinated Notes due 2024, which have been designated as a non-derivative net investment hedge of the Company’s investment in Odeon and UCI Cinemas Holdings Limited (“Odeon”) are not included in net earnings. If the Company substantially liquidates its investment in a foreign entity, any gain or loss on currency translation balance recorded in accumulated other comprehensive loss is recognized as part of a gain or loss on disposition.
Employee benefit plans	Employee Benefit Plans. The Company sponsors frozen non-contributory qualified and non-qualified defined benefit pension plans in the U.S., frozen defined benefit pension plans in the U.K., and a defined benefit pension plan in Sweden that is not frozen. The Company also sponsors a postretirement deferred compensation plan and a defined contribution plan. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Pension Benefits ​ International Pension Benefits ​ ​ Year Ended ​ Year Ended (In millions) December 31, 2019 December 31, 2018 December 31, 2019 December 31, 2018 Aggregated projected benefit obligation at end of period (1) ​ $ (115.9) ​ $ (101.1) ​ $ (120.5) ​ $ (98.6) Aggregated fair value of plan assets at end of period ​ 76.3 ​ 63.2 ​ 119.4 ​ 107.2 Net (liability) asset for benefit cost - funded status ​ $ (39.6) ​ $ (37.9) ​ $ (1.1) ​ $ 8.6 (1) The Company expects to contribute $5.1 million and $0.0 million to the U.S. and International pension plans, respectively, during the calendar year 2020. The Company intends to make future cash contributions to the plans in an amount necessary to meet minimum funding requirements according to applicable benefit plan regulations. The weighted-average assumptions used to determine benefit obligations are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Pension Benefits ​ International Pension Benefits ​ ​ December 31, 2019 ​ December 31, 2018 ​ December 31, 2019 ​ December 31, 2018 Discount rate 3.07% ​ 4.12% ​ 1.97% ​ 2.86% Rate of compensation increase N/A ​ N/A ​ 2.27% ​ 2.19% ​ The weighted-average assumptions used to determine net periodic benefit cost are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Pension Benefits ​ International Pension Benefits ​ ​ Year Ended ​ Year Ended ​ ​ December 31, ​ December 31, ​ December 31, ​ December 31, ​ December 31, ​ December 31, ​ 2019 2018 2017 2019 2018 2017 Discount rate 4.12% ​ 3.42% ​ 3.92% ​ 2.86% ​ 2.58% ​ 2.70% Weighted average expected long-term return on plan assets 6.70% ​ 7.00% ​ 7.00% ​ 2.99% ​ 2.86% ​ 2.85% Rate of compensation increase N/A ​ N/A ​ N/A ​ 2.19% ​ 2.19% ​ 2.14% ​ The offset to the pension liability is recorded in equity as a component of accumulated other comprehensive (income) loss. For further information, see Note 14—Accumulated Other Comprehensive Income (Loss) for pension amounts and activity recorded in accumulated other comprehensive income. For the years ended December 31, 2019, December 31, 2018, and December 31, 2017, net periodic benefit costs were $1.7 million, $1.1 million, and $0.6 million, respectively. The service cost component of net periodic benefit costs is recorded in general and administrative other and the non-operating component is recorded in other expense (income) in the consolidated statements of operations. maintain sufficient liquidity for payment of the plan obligations and expenses. The Company uses a diversified allocation of equity, debt, commodity and real estate exposures that are customized to the plan’s cash flow benefit needs. A weighted average targeted allocation percentage is assigned to each asset class as follows: U.S. equity securities of 43%, fixed including U.S. treasury securities and bond market funds of 27%, international equity securities of 23%, and private real estate of 7%. The international pension benefit plans do not have an established asset target allocation. Under the defined contribution plan, the Company sponsors a voluntary 401(k) savings plan covering certain U.S. employees age 21 or older and who are not covered by a collective bargaining agreement. Under the Company’s 401(k) Savings Plan, the Company matches 100% of each eligible employee’s elective contributions up to 3% and 50% of contributions up to 5% of the employee’s eligible compensation.
Income and Operating Taxes	Income and Operating Taxes. The Company accounts for income taxes in accordance with ASC 740-10. Under ASC 740-10, deferred income tax effects of transactions reported in different periods for financial reporting and income tax return purposes are recorded by the asset and liability method. This method gives consideration to the future tax consequences of deferred income or expense items and recognizes changes in income tax laws in the period of enactment. Holdings and its domestic subsidiaries file a consolidated U.S. federal income tax return and combined income tax returns in certain state jurisdictions. Foreign subsidiaries file income tax returns in foreign jurisdictions. Income taxes are determined based on separate Company computations of income or loss. Tax sharing arrangements are in place and utilized when tax benefits from affiliates in the consolidated group are used to offset what would otherwise be taxable income generated by Holdings or another affiliate.
Casualty Insurance	Casualty Insurance. The Company is self-insured for general liability up to $1.0 million per occurrence and carries a $0.5 million deductible limit per occurrence for workers’ compensation claims. The Company utilizes actuarial projections of its ultimate losses to calculate its reserves and expense. The actuarial method includes an allowance for adverse developments on known claims and an allowance for claims which have been incurred but which have not yet been reported. As of December 31, 2019 and December 31, 2018, the Company recorded casualty insurance reserves of $29.4 million and $24.9 million. The Company recorded expenses related to general liability and workers’ compensation claims of $32.6 million, $25.1 million, and $22.1 million for the years ended December 31, 2019, December 31, 2018, and December 31, 2017, respectively. Casualty insurance expense is recorded in operating expense.
Other Expense (Income)	Other Expense (Income): The following table sets forth the components of other expense (income): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended ​ ​ December 31, (In millions) 2019 2018 2017 Derivative liability fair value adjustment for embedded conversion feature in the Convertible Notes due 2024 ​ $ (23.5) ​ $ (66.4) ​ $ — Derivative asset fair value adjustment for contingent call option related to the Class B common stock purchase and cancellation agreement ​ ​ 17.7 ​ ​ (45.0) ​ ​ — Business interruption insurance recoveries ​ ​ (1.1) ​ ​ (0.4) ​ ​ (0.4) Loss on Pound sterling forward contract ​ ​ 0.9 ​ ​ 0.4 ​ ​ — Foreign currency transactions losses ​ ​ 1.5 ​ ​ 1.4 ​ ​ (3.0) Non-operating components of net periodic benefit cost ​ ​ 1.2 ​ ​ 0.8 ​ ​ 0.2 Loss on extinguishment of Bridge Loan ​ ​ — ​ ​ — ​ ​ 0.4 Loss on repayment of indebtedness ​ ​ 16.6 ​ ​ — ​ ​ — Fees related to modification of term loans ​ ​ — ​ ​ 0.4 ​ ​ — Third party fees relating to Third Amendment to the Senior Secured Credit Agreement ​ ​ — ​ ​ — ​ ​ 1.0 Other ​ 0.1 ​ 0.7 ​ ​ 0.3 Other expense (income) ​ $ 13.4 ​ $ (108.1) ​ $ (1.5)
Accounting Pronouncements	Accounting Pronouncements Recently Adopted Leases. — Revenue from Contracts with Customers. The Company adopted the guidance of Accounting Standards Codification (“ASC”) 606, Revenue from Contracts with Customers, (“ASC 606”) as of January 1, 2018 using the modified retrospective method. ASC 606 requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The Company recognized the cumulative effect of initially applying the new revenue standard as an adjustment to the opening balance of accumulated deficit. ASC 606 was applied only to contracts that were not completed at January 1, 2018. The comparative information in 2017 has not been adjusted and continues to be reported under ASC 605, Revenue Recognition, which was the accounting standard in effect during 2017. See Note 2 — Reclassification of Certain Tax Effects. In February 2018, the FASB issued ASU No. 2018-02, Income Statement – Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income (“ASU 2018-02”), which allows a reclassification from accumulated other comprehensive income to accumulated deficit for stranded tax effects resulting from the U.S. Tax Cuts and Jobs Act signed into law in December 2017. ASU 2018-02 was effective for the Company on January 1, 2019 and early adoption of the amendments was permitted, including adoption in any interim period. The Company early adopted ASU 2018-02, effective January 1, 2018, and recorded a reclassification related to the stranded tax effects that increased accumulated other comprehensive income and increased accumulated deficit by $5.0 million in the consolidated balance sheets as of January 1, 2018. See Note 14 — Improving Presentation of Net Benefit Costs. subtotal of operating income. The amendments in this guidance should be applied retrospectively for the presentation of the service cost component and the other components of net benefit cost in the consolidated statements of operations. The Company adopted ASU 2017-07 effective January 1, 2018 and recorded a prior period adjustment for the year ended December 31, 2017 in the consolidated statements of operations to decrease general and administrative: other by $0.2 million, related to the other components of net benefit cost, with a corresponding increase to other expense (income) and decrease to other income of $0.2 million, respectively. The adoption of this guidance did not have a material impact on the Company’s consolidated financial statements. Restricted Cash in Statement of Cash Flows. In November 2016, the FASB issued ASU No. 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash (A Consensus of the FASB Emerging Issues Task Force) (“ASU 2016-18”). ASU 2016-18 requires that restricted cash be included with cash and cash equivalents when reconciling the beginning and end-of-period total amounts shown on the statement of cash flows. This guidance must be applied retrospectively to all periods presented. The Company adopted ASU 2016-18 effective January 1, 2018 and 2017 has been adjusted to conform to the current presentation. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (In millions) ​ December 31, 2019 ​ December 31, 2018 ​ December 31, 2017 Cash and cash equivalents ​ $ 265.0 ​ $ 313.3 ​ $ 310.0 Restricted cash ​ ​ 10.5 ​ ​ 10.7 ​ ​ 8.3 Total cash and cash equivalents and restricted cash shown in the consolidated statements of cash flows ​ $ 275.5 ​ $ 324.0 ​ $ 318.3 ​ Classification and measurement of financial instruments. In January 2016, the FASB issued ASU No. 2016-01, Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities (“ASU 2016-01”). ASU 2016-01 amends various aspects of the recognition, measurement, presentation, and disclosure of financial instruments. The amendments require that equity investments (except those accounted for under the equity method of accounting or those that result in consolidation of the investee) are to be measured at fair value with changes in fair value recognized in net income. However, an entity may choose to measure equity investments that do not have readily determinable fair values at cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment of the same issuer. The Company adopted ASU 2016-01 on January 1, 2018 and recorded a decrease to accumulated other comprehensive income of Accounting Pronouncements Issued Not Yet Adopted Financial Instruments. In June 2016, the FASB issued ASU 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”), which provides new guidance regarding the measurement and recognition of credit impairment for certain financial assets. Such guidance will impact how the Company determines its allowance for estimated uncollectible receivables and evaluates its available-for-sale investments for impairment. ASU 2016-13 is effective for the Company in the first quarter of 2020. The Company is currently evaluating the effect that ASU 2016-13 will have on its consolidated financial statements and related disclosures. Fair Value Measurement. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework–Changes to the Disclosure Requirements for Fair Value Measurement (“ASU 2018-13”), which eliminates, adds, and modifies certain disclosure requirements for fair value measurements as part of its disclosure framework project. Entities will no longer be required to disclose the amount of and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy, but will be required to disclose the range and weighted average used to develop significant unobservable inputs for Level 3 fair value measurements. The fair value measurement disclosure requirements of ASU 2018-13 is effective for the Company in the first quarter of 2020. Cloud Computing Arrangement. In August 2018, the FASB issued ASU 2018-15, Intangibles–Goodwill and Other-Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract (“ASU 2018-15”). The guidance requires a customer in a cloud computing arrangement (i.e., hosting arrangement) that is a service contract to follow the internal-use software guidance in ASC 350-40 to determine whether to capitalize certain implementation costs or expense them as incurred. ASU 2018-15 is effective for the Company in the first quarter of 2020. Early adoption is permitted. Entities have the option to apply the guidance prospectively to all implementation costs incurred after the date of adoption or retrospectively in accordance with ASC 250-10-45. The Company expects to adopt ASU 2018-15 prospectively and is currently evaluating the effect that ASU 2016-15 will have on its consolidated financial statements and related disclosures.

THE COMPANY AND SIGNIFICANT A_3

THE COMPANY AND SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2019
THE COMPANY AND SIGNIFICANT ACCOUNTING POLICIES
Schedule of impairment of assets	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended ​ ​ ​ December 31, ​ December 31, ​ December 31, ​ (In millions) 2019 2018 2017 Impairment of long-lived assets ​ $ 84.3 ​ $ 13.8 ​ $ 43.6 ​ Investment expense ​ ​ 3.6 ​ ​ — ​ ​ — ​ Total impairment loss ​ $ 87.9 ​ $ 13.8 ​ $ 43.6 ​
Schedule of benefit obligations and plan assets and the accrued liability	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Pension Benefits ​ International Pension Benefits ​ ​ Year Ended ​ Year Ended (In millions) December 31, 2019 December 31, 2018 December 31, 2019 December 31, 2018 Aggregated projected benefit obligation at end of period (1) ​ $ (115.9) ​ $ (101.1) ​ $ (120.5) ​ $ (98.6) Aggregated fair value of plan assets at end of period ​ 76.3 ​ 63.2 ​ 119.4 ​ 107.2 Net (liability) asset for benefit cost - funded status ​ $ (39.6) ​ $ (37.9) ​ $ (1.1) ​ $ 8.6 (1)
Schedule of weighted-average assumptions used to determine benefit obligations	The weighted-average assumptions used to determine benefit obligations are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Pension Benefits ​ International Pension Benefits ​ ​ December 31, 2019 ​ December 31, 2018 ​ December 31, 2019 ​ December 31, 2018 Discount rate 3.07% ​ 4.12% ​ 1.97% ​ 2.86% Rate of compensation increase N/A ​ N/A ​ 2.27% ​ 2.19% ​ The weighted-average assumptions used to determine net periodic benefit cost are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Pension Benefits ​ International Pension Benefits ​ ​ Year Ended ​ Year Ended ​ ​ December 31, ​ December 31, ​ December 31, ​ December 31, ​ December 31, ​ December 31, ​ 2019 2018 2017 2019 2018 2017 Discount rate 4.12% ​ 3.42% ​ 3.92% ​ 2.86% ​ 2.58% ​ 2.70% Weighted average expected long-term return on plan assets 6.70% ​ 7.00% ​ 7.00% ​ 2.99% ​ 2.86% ​ 2.85% Rate of compensation increase N/A ​ N/A ​ N/A ​ 2.19% ​ 2.19% ​ 2.14%
Schedule components of other expense (income)	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended ​ ​ December 31, (In millions) 2019 2018 2017 Derivative liability fair value adjustment for embedded conversion feature in the Convertible Notes due 2024 ​ $ (23.5) ​ $ (66.4) ​ $ — Derivative asset fair value adjustment for contingent call option related to the Class B common stock purchase and cancellation agreement ​ ​ 17.7 ​ ​ (45.0) ​ ​ — Business interruption insurance recoveries ​ ​ (1.1) ​ ​ (0.4) ​ ​ (0.4) Loss on Pound sterling forward contract ​ ​ 0.9 ​ ​ 0.4 ​ ​ — Foreign currency transactions losses ​ ​ 1.5 ​ ​ 1.4 ​ ​ (3.0) Non-operating components of net periodic benefit cost ​ ​ 1.2 ​ ​ 0.8 ​ ​ 0.2 Loss on extinguishment of Bridge Loan ​ ​ — ​ ​ — ​ ​ 0.4 Loss on repayment of indebtedness ​ ​ 16.6 ​ ​ — ​ ​ — Fees related to modification of term loans ​ ​ — ​ ​ 0.4 ​ ​ — Third party fees relating to Third Amendment to the Senior Secured Credit Agreement ​ ​ — ​ ​ — ​ ​ 1.0 Other ​ 0.1 ​ 0.7 ​ ​ 0.3 Other expense (income) ​ $ 13.4 ​ $ (108.1) ​ $ (1.5)
Schedule of reconciliation of cash, cash equivalents, and restricted cash	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (In millions) ​ December 31, 2019 ​ December 31, 2018 ​ December 31, 2017 Cash and cash equivalents ​ $ 265.0 ​ $ 313.3 ​ $ 310.0 Restricted cash ​ ​ 10.5 ​ ​ 10.7 ​ ​ 8.3 Total cash and cash equivalents and restricted cash shown in the consolidated statements of cash flows ​ $ 275.5 ​ $ 324.0 ​ $ 318.3

REVENUE RECOGNITION (Tables)

REVENUE RECOGNITION (Tables)	12 Months Ended
	Dec. 31, 2019
REVENUE RECOGNITION
Summary of cumulative effect of the changes made for the adoption of the new revenue standard	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (In millions) ​ Balance at ​ Adjustments Due to ASC 606 ​ Balance at Assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ Other long-term assets ​ $ 475.9 ​ $ 11.1 ​ $ 487.0 Current liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ Deferred revenues and income ​ ​ 401.0 ​ ​ (10.0) ​ ​ 391.0 Long-term liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ Exhibitor services agreement ​ ​ 530.9 ​ ​ 52.9 ​ ​ 583.8 Stockholders' equity: ​ ​ ​ ​ ​ ​ ​ ​ ​ Accumulated deficit ​ ​ (207.9) ​ ​ (31.8) ​ ​ (239.7) ​ The disclosure of the impact of the adoption of ASC 606 on the Company’s consolidated statement of operations is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, 2018 (In millions) ​ Without Adoption of ASC 606 ​ Adjustments ​ As Reported Revenues: ​ ​ ​ ​ ​ ​ ​ ​ ​ Admissions ​ $ 3,386.4 ​ $ (1.4) ​ $ 3,385.0 Food and beverage ​ ​ 1,671.9 ​ ​ (0.4) ​ ​ 1,671.5 Other theatre ​ ​ 356.8 ​ ​ 47.5 ​ ​ 404.3 Total revenues ​ ​ 5,415.1 ​ ​ 45.7 ​ ​ 5,460.8 Operating costs and expenses: ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating expense, excluding depreciation and amortization ​ ​ 1,636.7 ​ ​ 18.0 ​ ​ 1,654.7 Non-cash interest expense related to NCM exhibitor service agreement ​ ​ — ​ ​ 41.5 ​ ​ 41.5 Net earnings ​ ​ 123.9 ​ ​ (13.8) ​ ​ 110.1 ​ ​
Schedule of disaggregated revenue	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended (In millions) ​ December 31, 2019 ​ December 31, 2018 Major revenue types ​ ​ ​ ​ Admissions ​ $ 3,301.3 ​ $ 3,385.0 Food and beverage ​ ​ 1,719.6 ​ ​ 1,671.5 Other theatre: ​ ​ ​ ​ ​ ​ Advertising ​ ​ 143.0 ​ ​ 142.2 Other theatre ​ ​ 307.1 ​ ​ 262.1 Other theatre ​ ​ 450.1 ​ ​ 404.3 Total revenues ​ $ 5,471.0 ​ $ 5,460.8 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended (In millions) ​ December 31, 2019 ​ December 31, 2018 Timing of revenue recognition ​ ​ ​ ​ Products and services transferred at a point in time ​ $ 5,071.0 ​ $ 5,218.7 Products and services transferred over time (1) ​ ​ 400.0 ​ ​ 242.1 Total revenues ​ $ 5,471.0 ​ $ 5,460.8 (1) ​
Schedule of receivables and deferred revenue income	​ ​ ​ ​ ​ ​ ​ ​ (In millions) ​ December 31, 2019 ​ December 31, 2018 Current assets: ​ ​ ​ ​ ​ ​ Receivables related to contracts with customers ​ $ 160.3 ​ $ 183.2 Miscellaneous receivables ​ ​ 93.9 ​ ​ 76.3 Receivables, net ​ $ 254.2 ​ $ 259.5 ​ ​ ​ ​ ​ ​ ​ ​ (In millions) ​ December 31, 2019 ​ December 31, 2018 Current liabilities: ​ ​ ​ ​ ​ ​ Deferred revenue related to contracts with customers ​ $ 447.1 ​ $ 412.8 Miscellaneous deferred income ​ ​ 2.1 ​ ​ 2.0 Deferred revenue and income ​ $ 449.2 ​ $ 414.8 ​
Schedule of changes in contract liabilities	​ ​ ​ ​ ​ ​ ​ Deferred Revenues ​ ​ Related to Contracts (In millions) ​ with Customers Ending balance at December 31, 2017 ​ $ 376.1 Cumulative effect of initially applying ASC 606 ​ ​ (10.0) Cash received in advance (1) ​ ​ 463.4 Customer loyalty rewards accumulated, net of expirations: ​ ​ ​ Admission revenues (2) ​ ​ 30.0 Food and beverage (2) ​ ​ 55.2 Other theatre (2) ​ ​ 8.9 Reclassification to revenue as the result of performance obligations satisfied: ​ ​ ​ Admission revenues (3) ​ ​ (329.9) Food and beverage (3) ​ ​ (82.3) Other theatre (4) ​ ​ (97.0) Business combination - Nordic purchase price allocation ​ ​ (2.3) Foreign currency translation adjustment ​ ​ 0.7 Ending balance at December 31, 2018 ​ $ 412.8 Cash received in advance (1) ​ ​ 457.1 Customer loyalty rewards accumulated, net of expirations: ​ ​ ​ Admission revenues (2) ​ ​ 29.4 Food and beverage (2) ​ ​ 69.7 Other theatre (2) ​ ​ 2.8 Reclassification to revenue as the result of performance obligations satisfied: ​ ​ ​ Admission revenues (3) ​ ​ (307.8) Food and beverage (3) ​ ​ (116.7) Other theatre (4) ​ ​ (95.6) Disposition of Austria theatres ​ ​ (1.2) Foreign currency translation adjustment ​ ​ (3.4) Ending balance at December 31, 2019 ​ $ 447.1 (1) ® (2) ® (3) ® (4) ® ​ The significant changes to contract liabilities included in the exhibitor services agreement (“ESA”), classified as long-term liabilities in the consolidated balance sheets, are as follows: ​ ​ ​ ​ ​ ​ Exhibitor Services (In millions) ​ Agreement Balance as of December 31, 2017 ​ $ 530.9 Cumulative effect of initially applying ASC 606 ​ ​ 52.9 Common Unit Adjustment – surrender of common units (1) ​ ​ (5.2) Reclassification of the beginning balance to other theatre revenue, as the result of performance obligations satisfied ​ ​ (14.6) Beginning balance $ 564.0 Common Unit Adjustment–additions of common units (1) ​ ​ 1.4 Reclassification of the beginning balance to other theatre revenue, as the result of performance obligations satisfied ​ ​ (15.7) Balance as of December 31, 2019 $ 549.7 (1) —
Schedule of components of liabilities included in the exhibitor services agreement	​ ​ ​ ​ ​ (In millions) ​ Exhibitor services agreement Year Ended 2020 ​ $ 16.9 Year Ended 2021 ​ ​ 18.1 Year Ended 2022 ​ ​ 19.5 Year Ended 2023 ​ ​ 20.9 Year Ended 2024 ​ ​ 22.5 Years Ended 2025 through February 2037 ​ ​ 451.8 Total ​ $ 549.7

LEASES (Tables)

LEASES (Tables)	12 Months Ended
	Dec. 31, 2019
LEASES
Schedule of operating and finance ROU assets and lease liabilities	​ ​ ​ ​ ​ ​ ​ (In millions) ​ Balance Sheet Classification ​ December 31, 2019 Assets ​ ​ ​ ​ Operating lease right-of-use assets (1) ​ Operating lease right-of-use assets ​ $ 4,796.0 Finance lease right-of-use assets (2) ​ Property, net ​ ​ 73.4 Total leased assets ​ ​ ​ $ 4,869.4 ​ ​ ​ ​ ​ ​ Liabilities ​ ​ ​ ​ ​ Current ​ ​ ​ ​ ​ Operating lease liabilities (1) ​ Current maturities of operating lease liabilities ​ $ 585.8 Finance lease liabilities (2) ​ Current maturities of finance lease liabilities ​ ​ 10.3 Noncurrent ​ ​ ​ ​ ​ Operating lease liabilities (1) ​ Operating lease liabilities ​ ​ 4,913.8 Finance lease liabilities (2) ​ Finance lease liabilities ​ ​ 89.6 Total lease liabilities ​ ​ ​ $ 5,599.5 ​ (1) (2)
Schedule of cumulative effect adjustment to accumulated deficit	​ ​ ​ ​ ​ ​ ​ Accumulated (In millions) ​ Deficit Balance as of December 31, 2018 ​ $ (550.9) Derecognition of existing assets for certain sale leaseback transactions previously recorded in property, net ​ ​ (405.9) Derecognition of existing liabilities for certain sale leaseback transactions previously recorded in current maturities of capital and financing lease obligations and in finance lease liabilities ​ ​ 427.5 Derecognition of deferred gains from the sale leaseback transactions previously recorded in other long-term liabilities ​ ​ 102.4 Difference in fair value compared to the basis of the right-of-use assets for previously impaired asset groups ​ ​ (49.0) Deferred taxes ​ ​ 1.2 Cumulative effect adjustment to accumulated deficit ​ ​ 76.2 Balance as of January 1, 2019 ​ $ (474.7)
Schedule of lease impact on the income statement	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, 2019 ​ ​ Without Adoption of ​ U.S. Markets ​ International Markets ​ ​ (In millions) ​ ASC 842 ​ Adjustments ​ Adjustments ​ As Reported Operating costs and expenses ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Rent (1)(2)(4) ​ $ 851.3 ​ $ 69.5 ​ $ 47.0 ​ $ 967.8 Depreciation and amortization (2)(3) ​ ​ 546.0 ​ ​ (53.6) ​ ​ (42.4) ​ ​ 450.0 Operating costs and expenses ​ ​ 5,314.5 ​ ​ 15.9 ​ ​ 4.6 ​ ​ 5,335.0 Operating income ​ ​ 156.5 ​ ​ (15.9) ​ ​ (4.6) ​ ​ 136.0 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other expense (income) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest expense: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Capital and financing lease obligations (1) ​ ​ 35.2 ​ ​ (13.2) ​ ​ (14.4) ​ ​ 7.6 Net loss ​ ​ (156.2) ​ ​ (2.7) ​ ​ 9.8 ​ ​ (149.1) ​ (1) (2) (3) (4)
Schedule of components of lease costs	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended (In millions) ​ Consolidated Statement of Operations ​ December 31, 2019 Operating lease cost ​ ​ ​ ​ Theatre properties ​ Rent ​ $ 876.0 Theatre properties ​ Operating expense ​ ​ 9.1 Equipment ​ Operating expense ​ ​ 14.4 Office and other ​ General and administrative: other ​ ​ 5.5 Finance lease cost ​ ​ ​ ​ ​ Amortization of finance lease assets ​ Depreciation and amortization ​ ​ 9.2 Interest expense on lease liabilities ​ Finance lease obligations ​ ​ 7.6 Variable lease cost ​ ​ ​ ​ ​ Theatre properties ​ Rent ​ ​ 91.8 Equipment ​ Operating expense ​ ​ 56.3 Total lease cost ​ ​ ​ $ 1,069.9
Schedule of weighted average remaining lease term and discount rate	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, 2019 ​ ​ Weighted Average ​ Weighted Average ​ ​ Remaining ​ Discount Lease Term and Discount Rate ​ Lease Term (years) ​ Rate Operating leases ​ ​ 10.2 ​ ​ 7.2% Finance leases ​ ​ 13.0 ​ ​ 6.5%
Schedule of cash flow and supplemental information	​ ​ ​ ​ ​ ​ ​ Year Ended (In millions) ​ December 31, 2019 Cash paid for amounts included in the measurement of lease liabilities: ​ ​ ​ Operating cash flows used in finance leases ​ $ (7.6) Operating cash flows used in operating leases ​ ​ (941.6) Financing cash flows used in finance leases ​ ​ (10.9) ​ ​ ​ ​ Landlord contributions: ​ ​ ​ Operating cashflows provided by operating leases ​ ​ 106.5 Supplemental disclosure of noncash leasing activities: ​ ​ ​ Right-of-use assets obtained in exchange for new operating lease liabilities (1) ​ ​ 463.2 ​ (1) Includes lease extensions and an option exercise.
Schedule of minimum annual payments required under existing leases	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating Lease ​ Financing Lease (In millions) ​ Payments (1)(2) ​ Payments 2020 ​ $ 952.5 ​ $ 16.4 2021 ​ ​ 899.1 ​ ​ 15.4 2022 ​ ​ 836.1 ​ ​ 14.9 2023 ​ ​ 743.6 ​ ​ 11.8 2024 ​ ​ 667.2 ​ ​ 10.6 Thereafter ​ ​ 3,738.4 ​ ​ 80.5 Total lease payments ​ ​ 7,836.9 ​ ​ 149.6 Less imputed interest ​ ​ (2,337.3) ​ ​ (49.7) Total ​ $ 5,499.6 ​ $ 99.9 ​ (1) (2)

PROPERTY (Tables)

PROPERTY (Tables)	12 Months Ended
	Dec. 31, 2019
PROPERTY
Summary of property	​ ​ ​ ​ ​ ​ ​ ​ ​ (In millions) December 31, 2019 December 31, 2018 Property owned: ​ ​ ​ ​ ​ ​ ​ Land ​ $ 106.3 ​ $ 104.6 ​ Buildings and improvements ​ 230.4 ​ 878.2 ​ Leasehold improvements ​ 1,834.8 ​ 1,560.7 ​ Furniture, fixtures and equipment ​ 2,216.8 ​ 2,065.4 ​ ​ ​ 4,388.3 ​ 4,608.9 ​ Less: accumulated depreciation ​ 1,812.5 ​ 1,668.3 ​ ​ ​ ​ 2,575.8 ​ ​ 2,940.6 ​ ​ ​ ​ ​ ​ ​ ​ ​ Property leased under capital leases: ​ ​ ​ ​ ​ ​ ​ Building and improvements ​ ​ 81.0 ​ ​ 127.8 ​ Less: accumulated depreciation and amortization ​ ​ 7.6 ​ ​ 28.8 ​ ​ ​ ​ 73.4 ​ ​ 99.0 ​ ​ ​ $ 2,649.2 ​ $ 3,039.6 ​
Schedule of estimated useful lives	​ ​ ​ ​ ​ Buildings and improvements 5 to 45 years Leasehold improvements ​ 1 to 20 years ​ Furniture, fixtures and equipment ​ 1 to 11 years ​

GOODWILL (Tables)

GOODWILL (Tables)	12 Months Ended
	Dec. 31, 2019
GOODWILL
Schedule of Activity of Goodwill	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (In millions) ​ U.S. ​ International ​ Total Balance as of December 31, 2017 ​ $ 3,072.6 ​ $ 1,859.1 ​ $ 4,931.7 Adjustments to the acquisition of Nordic ​ ​ — ​ ​ (6.4) ​ ​ (6.4) Currency translation adjustment ​ ​ — ​ ​ (136.6) ​ ​ (136.6) Balance as of December 31, 2018 ​ $ 3,072.6 ​ $ 1,716.1 ​ $ 4,788.7 Currency translation adjustment ​ ​ — ​ ​ 0.4 ​ ​ 0.4 Balance as of December 31, 2019 ​ $ 3,072.6 ​ $ 1,716.5 ​ $ 4,789.1
Schedule of detail of other intangible assets	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2019 ​ December 31, 2018 ​ ​ Gross ​ ​ Gross ​ ​ ​ ​ Remaining ​ Carrying ​ Accumulated ​ Carrying ​ Accumulated (In millions) ​ Useful Life ​ Amount ​ Amortization ​ Amount ​ Amortization Amortizable Intangible Assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Favorable leases (1) ​ ​ $ — ​ $ — ​ $ 206.0 ​ $ (55.4) ​ Management contracts and franchise rights 1 to 7 years ​ 11.8 ​ (7.9) ​ 11.8 ​ (6.2) ​ Non-compete agreement 2 years ​ 2.6 ​ (2.1) ​ 2.6 ​ (1.5) ​ Starplex trade name ​ 7 years ​ ​ 7.9 ​ ​ (2.6) ​ ​ 7.9 ​ ​ (1.8) ​ Carmike trade name ​ 4 years ​ ​ 9.3 ​ ​ (4.0) ​ ​ 9.3 ​ ​ (2.7) ​ NCM tax receivable agreement 17 years ​ 20.9 ​ (6.2) ​ 20.9 ​ (5.3) ​ Total, amortizable ​ ​ ​ $ 52.5 ​ $ (22.8) ​ $ 258.5 ​ $ (72.9) ​ Unamortized Intangible Assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ AMC trademark ​ ​ ​ $ 104.4 ​ ​ ​ ​ $ 104.4 ​ ​ ​ ​ Odeon trade names ​ ​ ​ ​ 50.7 ​ ​ ​ ​ ​ 51.4 ​ ​ ​ ​ Nordic trade names ​ ​ ​ ​ 10.5 ​ ​ ​ ​ ​ 10.7 ​ ​ ​ ​ Total, unamortizable ​ ​ ​ $ 165.6 ​ ​ ​ ​ $ 166.5 ​ ​ ​ ​ (1) See Note 1 — The Company and Significant Accounting Policies for information regarding the reclassification of favorable leases as an addition to the opening lease ROU asset balances, as required by ASC 842.
Schedule of amortization expense associated with the intangible assets	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended ​ (In millions) December 31, 2019 December 31, 2018 December 31, 2017 ​ Recorded amortization ​ $ 5.1 ​ $ 19.2 ​ $ 20.0 ​
Schedule of estimated annual amortization for the next five fiscal years for intangible assets	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (In millions) 2020 2021 2022 2023 2024 Projected annual amortization ​ $ 5.0 ​ $ 4.5 ​ $ 3.5 ​ $ 3.1 ​ $ 1.7 ​

INVESTMENTS (Tables)

INVESTMENTS (Tables)	12 Months Ended
	Dec. 31, 2019
INVESTMENTS
Schedule of Condensed Financial Information of Non-consolidated Equity Method Investments	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2019 (In millions) DCIP ​ Other ​ Total Current assets ​ $ 51.4 ​ $ 287.9 ​ $ 339.3 Noncurrent assets ​ ​ 568.0 ​ ​ 275.3 ​ 843.3 Total assets ​ ​ 619.4 ​ ​ 563.2 ​ 1,182.6 Current liabilities ​ ​ 64.6 ​ ​ 157.8 ​ 222.4 Noncurrent liabilities ​ ​ 10.4 ​ ​ 250.1 ​ 260.5 Total liabilities ​ ​ 75.0 ​ ​ 407.9 ​ 482.9 Stockholders’ equity ​ ​ 544.4 ​ ​ 155.3 ​ 699.7 Liabilities and stockholders’ equity ​ ​ 619.4 ​ ​ 563.2 ​ 1,182.6 The Company’s recorded investment ​ $ 151.0 ​ $ 88.1 ​ $ 239.1 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2018 (In millions) DCIP ​ Other ​ Total Current assets ​ $ 57.9 ​ $ 170.4 ​ $ 228.3 Noncurrent assets ​ ​ 684.3 ​ ​ 201.0 ​ 885.3 Total assets ​ ​ 742.2 ​ ​ 371.4 ​ 1,113.6 Current liabilities ​ ​ 60.7 ​ ​ 99.4 ​ 160.1 Noncurrent liabilities ​ ​ 132.1 ​ ​ 207.7 ​ 339.8 Total liabilities ​ ​ 192.8 ​ ​ 307.1 ​ 499.9 Stockholders’ equity ​ ​ 549.5 ​ ​ 64.3 ​ 613.8 Liabilities and stockholders’ equity ​ ​ 742.2 ​ ​ 371.4 ​ 1,113.6 The Company’s recorded investment ​ $ 152.5 ​ $ 79.9 ​ $ 232.4 (1) Certain differences in the Company’s recorded investments, and its proportional ownership share resulting from the acquisition of Holdings by Wanda on August 30, 2012, where the investments were recorded at fair value, are amortized to equity in (earnings) losses of non-consolidated entities over the estimated useful lives of the underlying assets and liabilities. Other non-amortizing differences are considered to represent goodwill and are evaluated for impairment annually. Condensed financial information of the Company’s significant non-consolidated equity method investments is shown below and amounts are presented under U.S. GAAP for the periods of ownership by the Company: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, 2019 (In millions) DCIP Other ​ Total Revenues ​ $ 172.2 ​ $ 522.3 ​ $ 694.5 Operating costs and expenses ​ ​ 94.3 ​ ​ 489.4 ​ ​ 583.7 Net earnings ​ $ 77.9 ​ $ 32.9 ​ $ 110.8 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, 2018 (In millions) NCM (1) DCIP ​ Other Total Revenues ​ $ 193.9 ​ $ 176.7 ​ $ 532.2 ​ $ 902.8 Operating costs and expenses ​ ​ 171.9 ​ ​ 81.9 ​ ​ 489.2 ​ ​ 743.0 Net earnings ​ $ 22.0 ​ $ 94.8 ​ $ 43.0 ​ $ 159.8 (1) The NCM condensed financial information represents the period January 1, 2018 through the date the sale closed July 5, 2018. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, 2017 (In millions) NCM DCIP ​ Other Total Revenues ​ $ 426.1 ​ $ 177.4 ​ $ 581.9 ​ $ 1,185.4 Operating costs and expenses ​ ​ 324.2 ​ ​ 84.3 ​ ​ 550.9 ​ ​ 959.4 Net earnings ​ $ 101.9 ​ $ 93.1 ​ $ 31.0 ​ $ 226.0
Schedule of Components of Recorded Equity in Earnings (Losses) of Non-consolidated Entities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended ​ Year Ended ​ Year Ended (In millions) December 31, 2019 December 31, 2018 December 31, 2017 National CineMedia ​ $ — ​ $ 17.9 ​ $ (216.3) Digital Cinema Implementation Partners, LLC ​ ​ 25.4 ​ ​ 29.1 ​ ​ 28.6 Other ​ ​ 5.2 ​ ​ 39.7 ​ ​ 2.5 The Company’s recorded equity in earnings (losses) ​ $ 30.6 ​ $ 86.7 ​ $ (185.2) (1) Includes both NCM, LLC and NCM, Inc.
Schedule of Changes in the Carrying Amount of Investment and Equity in Losses	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accumulated ​ ​ ​ ​ ​ ​ ​ G&A: ​ ​ ​ ​ ​ ​ Exhibitor Other ​ Equity in ​ Mergers and ​ ​ ​ ​ Investment ​ Services ​ Comprehensive ​ Cash ​ (Earnings) ​ Acquisitions ​ Advertising (In millions) ​ in NCM ​ Agreement(1) ​ (Income)/Loss ​ Received ​ Losses ​ Expense ​ (Revenue) Ending balance at December 31, 2016 ​ $ 323.9 ​ $ (359.2) ​ $ (4.0) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Receipt of common units ​ ​ 235.2 ​ ​ (235.2) ​ ​ — ​ $ — ​ $ — ​ $ — ​ $ — Receipt of excess cash distributions ​ ​ (28.6) ​ ​ — ​ ​ — ​ ​ 28.6 ​ ​ — ​ ​ — ​ ​ — Surrender of common units for transferred theatres ​ ​ (36.4) ​ ​ 35.7 ​ ​ — ​ ​ — ​ ​ 0.7 ​ ​ — ​ ​ — Surrender of common units for make whole agreement ​ ​ (23.1) ​ ​ — ​ ​ — ​ ​ — ​ ​ 0.5 ​ ​ 22.6 ​ ​ — Other-than-temporary impairment loss - held for sale ​ ​ (206.3) ​ ​ — ​ ​ — ​ ​ — ​ ​ 206.3 ​ ​ — ​ ​ — Units exchanged for NCM, Inc. common shares ​ ​ (116.5) ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Equity in earnings ​ ​ 15.3 ​ ​ — ​ ​ 1.5 ​ ​ — ​ ​ (16.8) ​ ​ — ​ ​ — Equity in loss from amortization of basis difference ​ ​ (2.4) ​ ​ — ​ ​ — ​ ​ — ​ ​ 2.4 ​ ​ — ​ ​ — Amortization of ESA ​ ​ — ​ ​ 27.8 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ (27.8) Ending balance at December 31, 2017 ​ $ 161.1 ​ $ (530.9) ​ $ (2.5) ​ $ 28.6 ​ $ 193.1 ​ $ 22.6 ​ $ (27.8) ASC 606 revenue recognition change in amortization method ​ ​ — ​ ​ (52.9) ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Surrender of common units for common unit adjustment ​ ​ (6.3) ​ ​ 5.2 ​ ​ — ​ ​ — ​ ​ 1.1 ​ ​ — ​ ​ — Receipt of excess cash distributions ​ ​ (15.3) ​ ​ — ​ ​ — ​ ​ 15.3 ​ ​ — ​ ​ — ​ ​ — Impairment loss - held for sale ​ ​ (14.4) ​ ​ — ​ ​ — ​ ​ — ​ ​ 14.4 ​ ​ — ​ ​ — Expenses on sale of NCM common units ​ ​ — ​ ​ — ​ ​ — ​ ​ (1.4) ​ ​ 1.4 ​ ​ — ​ ​ — Sale of NCM common units ​ ​ (128.3) ​ ​ — ​ ​ 2.4 ​ ​ 156.8 ​ ​ (30.9) ​ ​ — ​ ​ — Equity in earnings ​ ​ 3.2 ​ ​ — ​ ​ 0.1 ​ ​ — ​ ​ (3.3) ​ ​ — ​ ​ — Amortization of ESA ​ ​ — ​ ​ 14.6 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ (14.6) Ending balance at December 31, 2018 ​ $ — ​ $ (564.0) ​ $ — ​ $ 170.7 ​ $ (17.3) ​ $ — ​ $ (14.6) Receipt of NCM shares ​ ​ — ​ ​ (1.4) ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Amortization of ESA ​ ​ — ​ ​ 15.7 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ (15.7) Ending balance at December 31, 2019 ​ $ — ​ $ (549.7) ​ $ — ​ $ — ​ $ — ​ $ — ​ $ (15.7) (1) Represents the unamortized portion of the ESA with NCM. Such amounts are being amortized to other theatre revenues over the remainder of the 30 -year term of the ESA ending in 2037. See Note 1 — The Company and Significant Accounting Policies and Note 2 — Revenue Recognition for information on the effects of adopting ASC 606.
Schedule of Transactions	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of As of (In millions) ​ December 31, 2019 December 31, 2018 Due from DCM for on-screen advertising revenue ​ $ 4.2 ​ $ 2.8 Loan receivable from DCM ​ ​ 0.7 ​ ​ 0.6 Due from DCIP for warranty expenditures ​ ​ 3.5 ​ ​ 3.4 Deferred rent liability for digital projectors related to DCIP ​ ​ — ​ ​ (7.8) Due to AC JV for Fathom Events programming ​ ​ (0.8) ​ ​ (2.5) Due from Screenvision for on-screen advertising revenue ​ ​ 3.4 ​ ​ 2.7 Due from Nordic JVs ​ ​ 2.5 ​ ​ 2.6 Due to Nordic JVs for management services ​ ​ (1.6) ​ ​ (1.7) Due from SCC related to the joint venture ​ ​ 8.3 ​ ​ — Due to U.S. theatre partnerships ​ ​ (1.0) ​ ​ (0.9) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended (In millions) ​ Condensed Consolidated Statement of Operations ​ December 31, 2019 ​ December 31, 2018 ​ December 31, 2017 DCM screen advertising revenues ​ Other revenues ​ $ 22.4 ​ $ 20.1 ​ $ 23.3 DCIP equipment rental expense ​ Operating expense ​ ​ 3.6 ​ ​ 6.5 ​ ​ 5.7 Gross exhibition cost on AC JV Fathom Events programming ​ Film exhibition costs ​ ​ 13.6 ​ ​ 12.9 ​ ​ 12.5 Screenvision screen advertising revenues ​ Other revenues ​ ​ 15.6 ​ ​ 15.1 ​ ​ 14.0

SUPPLEMENTAL BALANCE SHEET IN_2

SUPPLEMENTAL BALANCE SHEET INFORMATION (Tables)	12 Months Ended
	Dec. 31, 2019
SUPPLEMENTAL BALANCE SHEET INFORMATION
Schedule of other assets and liabilities	​ ​ ​ ​ ​ ​ ​ ​ ​ (In millions) December 31, 2019 December 31, 2018 Other current assets: ​ ​ ​ ​ ​ ​ ​ Income taxes receivable ​ $ 11.7 ​ $ 24.7 ​ Prepaids (1) ​ 63.4 ​ 99.8 ​ Merchandise inventory ​ 37.5 ​ 35.2 ​ Other ​ 30.8 ​ 38.1 ​ ​ ​ $ 143.4 ​ $ 197.8 ​ Other long-term assets: ​ ​ ​ ​ ​ ​ ​ Investments in real estate ​ $ 16.8 ​ $ 16.2 ​ Deferred financing costs revolving credit facility ​ 11.3 ​ 6.7 ​ Investments in equity method investees ​ 239.1 ​ 232.4 ​ Computer software ​ 115.8 ​ 104.3 ​ Investment in common stock ​ 28.0 ​ 30.9 ​ Pension asset ​ ​ 19.6 ​ ​ 25.7 ​ Derivative asset ​ ​ 38.0 ​ ​ 55.7 ​ Other ​ 34.4 ​ 33.6 ​ ​ ​ $ 503.0 ​ $ 505.5 ​ Accrued expenses and other liabilities: ​ ​ ​ ​ ​ ​ ​ Taxes other than income ​ $ 75.2 ​ $ 73.4 ​ Interest ​ 21.2 ​ 32.6 ​ Payroll and vacation ​ 43.8 ​ 39.6 ​ Current portion of casualty claims and premiums ​ 12.6 ​ 11.2 ​ Accrued bonus ​ 32.5 ​ 39.6 ​ Theatre and other closure ​ — ​ 5.6 ​ Accrued licensing and percentage rent ​ 24.7 ​ 18.9 ​ Current portion of pension ​ 0.5 ​ 0.3 ​ Other ​ 114.1 ​ 157.3 ​ ​ ​ $ 324.6 ​ $ 378.5 ​ Other long-term liabilities: ​ ​ ​ ​ ​ ​ ​ Unfavorable lease obligations ​ $ — ​ $ 176.6 ​ Deferred rent ​ — ​ 518.5 ​ Pension ​ 59.9 ​ 54.6 ​ Deferred gain ​ ​ — ​ ​ 102.4 ​ Casualty claims and premiums ​ 17.9 ​ 15.2 ​ Theatre and other closure ​ — ​ 12.5 ​ Other ​ 118.1 ​ 83.3 ​ ​ ​ $ 195.9 ​ $ 963.1 ​ (1) See Note 1 — The Company and Significant Accounting Policies for information regarding the reclassification of prepaid rent, unfavorable lease obligations, deferred rent including landlord allowances and theatre closure liabilities as a reduction to the opening lease ROU asset balances, as required by ASC 842. (2) See Note 3 — Leases for information regarding the derecognition of deferred gains from sale leaseback transactions for the cumulative effect adjustment to accumulated deficit as of January 1, 2019, as required by ASC 842.

CORPORATE BORROWINGS (Tables)

CORPORATE BORROWINGS (Tables)	12 Months Ended
	Dec. 31, 2019
Summary of the carrying value of corporate borrowings and capital and financing lease obligations	​ ​ ​ ​ ​ ​ ​ ​ (In millions) December 31, 2019 December 31, 2018 Senior Secured Credit Facility-Term Loan due 2022 ​ $ — ​ $ 854.2 Senior Secured Credit Facility-Term Loan due 2023 ​ ​ — ​ ​ 491.2 Senior Secured Credit Facility-Term Loan due 2026 (5.23% as of December 31, 2019) ​ ​ 1,985.0 ​ ​ — Odeon Revolving Credit Facility Due 2022 ​ ​ — ​ $ 11.9 6.0% Senior Secured Notes due 2023 ​ ​ — ​ ​ 230.0 2.95% Senior Unsecured Convertible Notes due 2024 ​ ​ 600.0 ​ ​ 600.0 5.875% Senior Subordinated Notes due 2022 ​ — ​ 375.0 6.375% Senior Subordinated Notes due 2024 (£500 million par value) ​ ​ 655.8 ​ ​ 634.1 5.75% Senior Subordinated Notes due 2025 ​ ​ 600.0 ​ ​ 600.0 5.875% Senior Subordinated Notes due 2026 ​ ​ 595.0 ​ ​ 595.0 6.125% Senior Subordinated Notes due 2027 ​ ​ 475.0 ​ ​ 475.0 5.0% Promissory Note payable to NCM due 2019 ​ — ​ 1.3 ​ ​ $ 4,910.8 ​ $ 4,867.7 Finance lease obligations ​ 99.9 ​ 560.2 Debt issuance costs ​ ​ (88.8) ​ ​ (104.3) Net discounts ​ ​ (69.1) ​ ​ (64.4) Derivative liability ​ ​ 0.5 ​ ​ 24.0 ​ ​ $ 4,853.3 ​ $ 5,283.2 Less: ​ ​ ​ ​ ​ ​ Current maturities corporate borrowings ​ ​ (20.0) ​ (15.2) Current maturities finance lease obligations ​ ​ (10.3) ​ ​ — Current maturities capital and financing lease obligations ​ ​ — ​ ​ (67.0) ​ ​ $ 4,823.0 ​ $ 5,201.0 (1) See Note 3 — Leases for information about the derecognition of existing liabilities for certain sale leaseback transactions for the cumulative effect adjustment to accumulated deficit as of January 1, 2019, as required by ASC 842.
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 2020 ​ $ 20.0 2021 ​ 20.0 2022 ​ 20.0 2023 ​ 20.0 2024 ​ 1,275.8 Thereafter ​ 3,555.0 Total ​ $ 4,910.8
2.95% Senior Unsecured Convertible Notes due 2024
Summary of the carrying value of corporate borrowings and capital and financing lease obligations	The carrying value of the Senior Unsecured Convertible Notes due 2024 is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Carrying Value ​ Additional ​ Increase ​ Carrying Value ​ Increase ​ Carrying Value ​ ​ at Issuance on ​ Deferred ​ to Expense ​ as of ​ to Expense ​ as of (In millions) ​ September 14, 2018 ​ Charges ​ (Income) ​ December 31, 2018 ​ (Income) ​ December 31, 2019 Principal balance ​ $ 600.0 ​ $ — ​ $ — ​ $ 600.0 ​ $ — ​ $ 600.0 Discount ​ ​ (90.4) ​ ​ — ​ ​ 3.7 ​ ​ (86.7) ​ ​ 13.0 ​ ​ (73.7) Debt issuance costs ​ ​ (12.5) ​ ​ (1.1) ​ ​ 0.6 ​ ​ (13.0) ​ ​ 1.8 ​ ​ (11.2) Derivative liability ​ ​ 90.4 ​ ​ — ​ ​ (66.4) ​ ​ 24.0 ​ ​ (23.5) ​ ​ 0.5 Carrying Value ​ $ 587.5 ​ $ (1.1) ​ $ (62.1) ​ $ 524.3 ​ $ (8.7) ​ $ 515.6

STOCKHOLDERS' EQUITY (Tables)

STOCKHOLDERS' EQUITY (Tables)	12 Months Ended
	Dec. 31, 2019
Schedule of the Dividends and Dividend Equivalents Paid	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amount per ​ Total Amount ​ ​ ​ Share of Declared Declaration Date ​ Record Date ​ Date Paid ​ Common Stock ​ (In millions) February 15, 2019 ​ March 11, 2019 ​ March 25, 2019 ​ $ 0.20 ​ $ 21.3 May 3, 2019 ​ June 10, 2019 ​ June 24, 2019 ​ ​ 0.20 ​ ​ 21.3 August 2, 2019 ​ September 9, 2019 ​ September 23, 2019 ​ ​ 0.20 ​ ​ 21.3 October 24, 2019 ​ December 2, 2019 ​ December 16, 2019 ​ ​ 0.20 ​ ​ 21.0 ​ During the year ended December 31, 2019, the Company paid dividends and dividend equivalents of $84.1 million and accrued $2.3 million for the remaining unpaid dividends at December 31, 2019. The aggregate dividends paid for Class A common stock, Class B common stock, and dividend equivalents were approximately $41.7 million, $41.4 million, and $1.0 million, respectively. On February 26, 2020, the Company declared a cash dividend in the amount of $0.03 per share on Class A and Class B common stock, payable on March 23, 2020 The following is a summary of dividends and dividend equivalents declared to stockholders during the year ended December 31, 2018: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amount per ​ Total Amount ​ ​ ​ Share of Declared Declaration Date ​ Record Date ​ Date Paid ​ Common Stock ​ (In millions) February 28, 2018 ​ March 12, 2018 ​ March 26, 2018 ​ $ 0.20 ​ $ 26.0 May 3, 2018 ​ June 11, 2018 ​ June 25, 2018 ​ ​ 0.20 ​ ​ 26.0 July 24, 2018 ​ September 10, 2018 ​ September 24, 2018 ​ ​ 0.20 ​ ​ 25.8 September 14, 2018 ​ September 25, 2018 ​ September 28, 2018 ​ ​ 1.55 ​ ​ 162.9 November 1, 2018 ​ December 10, 2018 ​ December 26, 2018 ​ ​ 0.20 ​ ​ 21.2
Schedule of unrecognized stock based compensation	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amount Recognized ​ Amount ​ Expected to ​ Expected to ​ Expected to ​ ​ Expected to ​ ​ Expected to ​ ​ Year Ended ​ Unrecognized ​ Recognize ​ Recognize ​ Recognize ​ ​ Recognize ​ ​ Recognize Grant Tranche ​ December 31, 2019 ​ December 31, 2019 ​ 2020 ​ 2021 ​ 2022 ​ ​ 2023 ​ ​ 2024 2019 Board of Directors ​ $ 0.5 ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — 2019 RSU awards ​ ​ 3.5 ​ ​ 7.0 ​ ​ 3.5 ​ ​ 3.5 ​ ​ — ​ ​ — ​ ​ — 2019 PSU awards ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — 2018 RSU awards ​ ​ 3.1 ​ ​ 3.0 ​ ​ 3.0 ​ ​ — ​ ​ — ​ ​ — ​ ​ — 2018 PSU awards ​ ​ (5.8) ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — 2017 RSU awards ​ ​ 1.6 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — 2017 RSU NEO awards ​ ​ 1.4 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — 2017 PSU awards ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — 2019 RSU executive ​ ​ 0.1 ​ ​ 1.6 ​ ​ 1.1 ​ ​ 0.3 ​ ​ 0.2 ​ ​ — ​ ​ — 2019 PSU executive ​ ​ — ​ ​ 1.4 ​ ​ 0.5 ​ ​ 0.5 ​ ​ 0.2 ​ ​ 0.1 ​ ​ 0.1 ​ ​ $ 4.4 ​ $ 13.0 ​ $ 8.1 ​ $ 4.3 ​ $ 0.4 ​ $ 0.1 ​ $ 0.1
Schedule of stock award granted	​ ​ ​ ​ ​ ​ ​ ​ ​ Vested ​ Recognized ​ ​ Class A ​ Upon Stock Award Agreement ​ Common Stock ​ Grant Year Granted ​ Granted ​ (in millions) 2019 ​ 32,464 ​ $ 0.5 2018 ​ 28,055 ​ ​ 0.5 2017 ​ 13,684 ​ ​ 0.4
Schedule of restricted stock units granted	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Recognized Restricted Stock Unit ​ ​ ​ in 2019 Year Granted ​ Units Granted ​ (in millions) 2019 ​ 730,167 ​ $ 3.5 2018 ​ 656,576 ​ ​ 3.1 2017 ​ 201,726 ​ ​ 1.6 ​ ​ ​ ​ $ 8.2
Schedule of Nonvested RSU and PSU Activity	The following table represents the nonvested RSU and PSU activity for the years ended December 31, 2019, December 31, 2018 and December 31, 2017: ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ Average ​ ​ Shares of RSU ​ Grant Date ​ ​ and PSU ​ Fair Value Beginning balance at January 1, 2017 ​ 556,510 ​ $ 24.88 Granted ​ 701,788 ​ ​ 31.23 Vested ​ (92,722) ​ ​ 24.88 Forfeited ​ (44,309) ​ ​ 28.68 Cancelled (1) ​ (37,426) ​ ​ 31.45 Beginning balance at January 1, 2018 ​ 1,083,841 ​ $ 28.61 Granted ​ 1,313,152 ​ ​ 15.65 Vested ​ (408,848) ​ ​ 21.68 Forfeited ​ (53,698) ​ ​ 20.69 Beginning balance at January 1, 2019 ​ 1,934,447 ​ $ 21.50 Granted ​ 1,960,334 ​ ​ 12.89 Vested ​ (303,201) ​ ​ 21.76 Forfeited ​ (220,632) ​ ​ 17.17 Cancelled ​ (100,855) ​ ​ 21.46 Nonvested at December 31, 2019 ​ 3,270,093 ​ $ 15.88 (1) No PSU Transition Awards vested as the Company did not achieve the adjusted free cash flow or net earnings minimum performance target.
Performance Stock Unit Transition Award
Schedule of target prices and vesting tranches	​ ​ ​ ​ Target Stock Price ​ PSUs Vesting $15.00 ​ 75,000 $20.00 ​ 75,000 $25.00 ​ 75,000 $30.00 ​ 75,000
Schedule of assumptions in determining the fair value of the PSUs	​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, 2019 Expected stock price volatility ​ 45.0% Expected dividend yield ​ 9.23% Risk-free interest rate ​ 1.83% Grant-date stock price ​ $8.67

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2019
INCOME TAXES
Schedule of component of income tax provision reflected in the consolidated statements of operations	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended ​ (In millions) December 31, 2019 December 31, 2018 December 31, 2017 Current: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Federal ​ $ (0.1) ​ $ (0.5) ​ $ (13.4) ​ Foreign ​ 8.4 ​ 5.0 ​ 5.3 ​ State ​ 2.9 ​ 15.5 ​ 4.4 ​ Total current ​ 11.2 ​ 20.0 ​ (3.7) ​ Deferred: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Federal ​ (4.2) ​ 0.8 ​ 116.4 ​ Foreign ​ (42.8) ​ (7.5) ​ (5.5) ​ State ​ 13.3 ​ 0.3 ​ 46.9 ​ Total deferred ​ (33.7) ​ (6.4) ​ 157.8 ​ Total provision (benefit) ​ $ (22.5) ​ $ 13.6 ​ $ 154.1 ​ ​
Schedule of pre-tax income (losses)	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended ​ (In millions) December 31, 2019 December 31, 2018 December 31, 2017 Domestic ​ $ (165.1) ​ $ 154.4 ​ $ (362.3) ​ Foreign ​ (6.5) ​ (30.7) ​ 29.2 ​ Total ​ $ (171.6) ​ $ 123.7 ​ $ (333.1) ​
Schedule of the difference between the effective tax rate on earnings (loss) from continuing operations before income taxes and the U.S. federal income tax statutory rate	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended ​ (In millions) December 31, 2019 December 31, 2018 December 31, 2017 Income tax expense (benefit) at the federal statutory rate ​ $ (36.0) ​ $ 26.0 ​ $ (116.6) ​ Effect of: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ State income taxes ​ (7.2) ​ 8.9 ​ (17.6) ​ Increase in reserve for uncertain tax positions ​ 8.4 ​ 5.2 ​ 2.1 ​ Federal and state credits ​ (6.5) ​ (5.9) ​ (5.2) ​ Permanent items - transaction costs ​ — ​ — ​ 2.0 ​ Permanent items - other ​ ​ (6.6) ​ ​ 5.7 ​ ​ (9.4) ​ Foreign rate differential ​ ​ 11.8 ​ ​ (5.9) ​ ​ (15.3) ​ Change in legislation ​ ​ — ​ ​ — ​ ​ 88.6 ​ Other ​ (10.6) ​ 9.7 ​ 4.9 ​ Valuation allowance ​ 24.2 ​ (30.1) ​ 220.6 ​ Income tax expense (benefit) ​ $ (22.5) ​ $ 13.6 ​ $ 154.1 ​ Effective income tax rate ​ 13.1 % 11.0 % (46.3) %
Schedule of significant components of deferred income tax assets and liabilities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2019 ​ December 31, 2018 ​ ​ Deferred Income Tax ​ Deferred Income Tax (In millions) Assets Liabilities Assets Liabilities Tangible assets $ — $ (152.6) $ — $ (210.6) ​ ROU assets ​ ​ — ​ ​ (1,187.2) ​ ​ — ​ ​ — ​ Accrued liabilities ​ 17.0 ​ — ​ 13.6 ​ — ​ Intangible assets ​ — ​ (99.7) ​ — ​ (128.7) ​ Receivables ​ 7.8 ​ — ​ — ​ (3.7) ​ Investments ​ 17.8 ​ — ​ 12.0 ​ — ​ Capital loss carryforwards ​ 1.2 ​ — ​ 1.0 ​ — ​ Pension, postretirement and deferred compensation ​ 21.6 ​ — ​ 21.9 ​ — ​ Corporate borrowings ​ — ​ (101.8) ​ — ​ (111.6) ​ Disallowed interest ​ ​ 42.1 ​ ​ — ​ ​ 14.9 ​ ​ — ​ Deferred revenue ​ 170.8 ​ — ​ 201.7 ​ — ​ Lease liabilities ​ 1,377.7 ​ — ​ 165.6 ​ — ​ Capital and financing lease obligations ​ 2.4 ​ — ​ 118.5 ​ — ​ Other credit carryovers ​ 18.0 ​ — ​ 17.7 ​ — ​ Other comprehensive income ​ — ​ (1.0) ​ — ​ (1.0) ​ Net operating loss carryforwards ​ 202.8 ​ — ​ 199.3 ​ — ​ Total ​ $ 1,879.2 ​ $ (1,542.3) ​ $ 766.2 ​ $ (455.6) ​ Less: Valuation allowance ​ (312.8) ​ — ​ (323.6) ​ — ​ Net deferred income taxes ​ $ 1,566.4 ​ $ (1,542.3) ​ $ 442.6 ​ $ (455.6) ​
Schedule of rollforward of the Company's valuation allowance for deferred tax assets	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Additions ​ ​ ​ Charged ​ ​ ​ ​ ​ Balance at ​ Charged ​ Charged ​ (Credited) ​ ​ ​ ​ Beginning of ​ (Credited) ​ (Credited) to ​ to Other ​ Balance at (In millions) Period to Expenses Goodwill Accounts(1) End of Period Calendar Year 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Valuation allowance-deferred income tax assets ​ $ 323.6 ​ 24.2 ​ — ​ (35.0) ​ $ 312.8 Calendar Year 2018 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Valuation allowance-deferred income tax assets ​ $ 338.4 ​ (30.1) ​ — ​ 15.3 ​ $ 323.6 Calendar Year 2017 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Valuation allowance-deferred income tax assets ​ $ 112.2 ​ 220.6 ​ (9.1) ​ 14.7 ​ $ 338.4 (1) Primarily relates to amounts resulting from the Company’s changes in deferred tax assets and associated valuation allowance that are not related to income statement activity as well as amounts charged to other comprehensive income. In 2019, this includes $(28.6) million of valuation allowance associated with the sale of the Austria theatres.
Schedule of reconciliation of the change in the amount of unrecognized tax benefits	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended ​ (In millions) December 31, 2019 December 31, 2018 December 31, 2017 ​ Balance at beginning of period ​ $ 22.0 ​ $ 15.3 ​ $ 12.7 ​ Gross increases—current period tax positions ​ 10.5 ​ 7.3 ​ 3.2 ​ Gross decreases—prior period tax positions ​ ​ (1.5) ​ ​ (0.6) ​ ​ 0.3 ​ Impact of legislation change ​ ​ — ​ ​ — ​ ​ (0.9) ​ Balance at end of period ​ $ 31.0 ​ $ 22.0 ​ $ 15.3 ​

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	12 Months Ended
	Dec. 31, 2019
FAIR VALUE MEASUREMENTS
Schedule of Fair Value Hierarchy of Financial Assets Carried at Fair Value on a Recurring Basis	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurements at December 31, 2019 Using ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Significant ​ Total Carrying Quoted prices in Significant other unobservable ​ ​ Value at ​ active market ​ observable inputs ​ inputs (In millions) ​ December 31, 2019 ​ (Level 1) ​ (Level 2) ​ (Level 3) Other long-term assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Money market mutual funds ​ $ 0.6 ​ $ 0.6 ​ $ — ​ $ — Derivative asset ​ ​ 38.0 ​ ​ — ​ ​ — ​ ​ 38.0 Investments measured at net asset value (1) ​ ​ 11.9 ​ — ​ — ​ — Equity securities, available-for-sale: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Investment in NCM ​ ​ 0.7 ​ ​ 0.7 ​ ​ — ​ ​ — Total assets at fair value ​ $ 51.2 ​ $ 1.3 ​ $ — ​ $ 38.0 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Corporate Borrowings: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivative liability ​ $ 0.5 ​ $ — ​ $ — ​ $ 0.5 Total liabilities at fair value ​ $ 0.5 ​ $ — ​ $ — ​ $ 0.5 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurements at December 31, 2018 Using ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Significant ​ Total Carrying Quoted prices in Significant other unobservable ​ ​ Value at ​ active market ​ observable inputs ​ inputs (In millions) ​ December 31, 2018 ​ (Level 1) ​ (Level 2) ​ (Level 3) Other long-term assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Money market mutual funds ​ $ 0.5 ​ $ 0.5 ​ $ — ​ $ — Derivative asset ​ ​ 55.7 ​ — ​ — ​ 55.7 Investments measured at net asset value(1) ​ ​ 9.6 ​ ​ — ​ ​ — ​ ​ — Total assets at fair value ​ $ 65.8 ​ $ 0.5 ​ $ — ​ $ 55.7 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Corporate Borrowings: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivative liability ​ $ 24.0 ​ $ — ​ $ — ​ $ 24.0 Total liabilities at fair value ​ $ 24.0 ​ $ — ​ $ — ​ $ 24.0 (1) The investments relate to a non-qualified deferred compensation arrangement on behalf of certain members of management. The Company has an equivalent liability for this related-party transaction recorded in other long-term liabilities for the deferred compensation obligation.
Summary of fair value hierarchy of the Company's assets that were measured at fair value on a nonrecurring basis	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurements at December 31, 2019 Using ​ ​ ​ ​ ​ ​ Significant other Significant ​ ​ ​ ​ Total Carrying ​ Quoted prices in ​ observable ​ unobservable ​ ​ ​ ​ ​ Value at ​ active market ​ inputs ​ inputs ​ Total (In millions) December 31, 2019 (Level 1) (Level 2) (Level 3) Losses Property, net: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Property net ​ $ 29.2 ​ $ — ​ $ — ​ $ 29.2 ​ $ 23.1 Operating lease right-of-use assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating lease right-of-use assets ​ ​ 123.3 ​ ​ — ​ ​ — ​ ​ 123.3 ​ ​ 60.0 Other long-term assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Property owned, net ​ ​ 3.0 ​ ​ — ​ ​ — ​ ​ 3.0 ​ ​ 1.2 Equity interest investment ​ ​ 2.2 ​ ​ — ​ ​ — ​ ​ 2.2 ​ ​ 3.6 Total ​ $ 157.7 ​ $ — ​ $ — ​ $ 157.7 ​ ​ 87.9 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurements at December 31, 2018 Using ​ ​ ​ ​ ​ ​ ​ Significant other Significant ​ ​ ​ Total Carrying ​ Quoted prices in ​ observable ​ unobservable ​ ​ ​ ​ ​ Value at ​ active market ​ inputs ​ inputs ​ Total (In millions) December 31, 2018 (Level 1) (Level 2) (Level 3) Losses Property, net: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Property owned, net ​ $ 17.3 ​ $ — ​ $ — ​ $ 17.3 ​ $ 13.8
Schedule of Fair Value of Financial Instruments Not Recognized at Fair Value for Which It Is Practicable to Estimate Fair Value	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurements at December 31, 2019 Using ​ ​ ​ ​ Significant other Significant ​ ​ Total Carrying ​ Quoted prices in ​ observable ​ unobservable ​ ​ Value at ​ active market ​ inputs ​ inputs (In millions) ​ December 31, 2019 ​ (Level 1) ​ (Level 2) ​ (Level 3) Current maturities of corporate borrowings ​ $ 20.0 ​ $ — ​ $ 20.4 ​ $ — Corporate borrowings ​ 4,733.4 ​ — ​ 4,135.3 ​ ​ 514.9 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurements at December 31, 2018 Using ​ ​ ​ ​ ​ Significant other Significant ​ ​ Total Carrying ​ Quoted prices in ​ observable ​ unobservable ​ ​ Value at ​ active market ​ inputs ​ inputs (In millions) ​ December 31, 2018 ​ (Level 1) ​ (Level 2) ​ (Level 3) Current maturities of corporate borrowings ​ $ 15.2 ​ $ — ​ $ 13.4 ​ $ 1.4 Corporate borrowings ​ 4,707.8 ​ — ​ 3,909.2 ​ 475.2 ​

OPERATING SEGMENT (Tables)

OPERATING SEGMENT (Tables)	12 Months Ended
	Dec. 31, 2019
OPERATING SEGMENTS
Schedule of financial information by reportable operating segment	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended Revenues (In millions) December 31, 2019 December 31, 2018 December 31, 2017 U.S. markets ​ $ 4,023.2 ​ $ 4,013.2 ​ $ 3,723.5 International markets ​ ​ 1,447.8 ​ ​ 1,447.6 ​ ​ 1,355.7 Total revenues ​ $ 5,471.0 ​ $ 5,460.8 ​ $ 5,079.2 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended Adjusted EBITDA (In millions) ​ December 31, 2019 December 31, 2018 ​ December 31, 2017 U.S. markets (1) ​ $ 575.6 ​ $ 700.5 ​ $ 610.0 International markets ​ ​ 195.8 ​ ​ 228.7 ​ ​ 212.5 Total Adjusted EBITDA ​ $ 771.4 ​ $ 929.2 ​ $ 822.5 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended Capital Expenditures (In millions) December 31, 2019 December 31, 2018 December 31, 2017 U.S. markets ​ $ 369.4 ​ $ 395.6 ​ $ 543.7 International markets ​ ​ 148.7 ​ ​ 180.7 ​ ​ 83.1 Total capital expenditures ​ $ 518.1 ​ $ 576.3 ​ $ 626.8 (1) The Company presents Adjusted EBITDA as a supplemental measure of its performance. The Company defines Adjusted EBITDA as net earnings (loss) plus (i) income tax provision, (ii) interest expense and (iii) depreciation and amortization, as further adjusted to eliminate the impact of certain items that the Company does not consider indicative of the Company’s ongoing operating performance and to include attributable EBITDA from equity investments in theatre operations in International markets and any cash distributions of earnings from its other equity method investees. The measure of segment profit and loss the Company uses to evaluate performance and allocate its resources is Adjusted EBITDA, which is consistent with how Adjusted EBITDA is defined in the Company’s debt indentures. (2) Distributions from NCM are reported entirely within the U.S. markets segment.
Schedule of information about the Company's revenues from continuing operations and assets by geographic area	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended Revenues (In millions) ​ December 31, 2019 ​ December 31, 2018 ​ December 31, 2017 United States ​ $ 4,023.2 ​ $ 4,013.2 ​ $ 3,723.5 United Kingdom ​ ​ 500.4 ​ ​ 513.5 ​ ​ 509.8 Spain ​ ​ 200.3 ​ ​ 193.9 ​ ​ 187.1 Italy ​ ​ 200.0 ​ ​ 178.5 ​ ​ 185.5 Sweden ​ ​ 177.5 ​ ​ 192.1 ​ ​ 154.2 Germany ​ ​ 135.0 ​ ​ 114.3 ​ ​ 129.7 Finland ​ ​ 103.0 ​ ​ 101.7 ​ ​ 77.3 Norway ​ ​ 37.9 ​ ​ 34.9 ​ ​ 17.7 Other foreign countries ​ ​ 93.7 ​ ​ 118.7 ​ ​ 94.4 Total ​ $ 5,471.0 ​ $ 5,460.8 ​ $ 5,079.2 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of ​ As of Long-term assets, net (In millions) ​ December 31, 2019 ​ December 31, 2018 United States ​ $ 9,039.6 ​ $ 5,826.5 International ​ ​ 3,963.1 ​ ​ 2,888.0 Total long-term assets (1) ​ $ 13,002.7 ​ $ 8,714.5 (1) Long-term assets are comprised of property, operating lease right-of-use assets, intangible assets, goodwill, deferred tax asset, net and other long-term assets.
Schedule of reconciliation of net earnings to Adjusted EBITDA	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended (In millions) December 31, 2019 December 31, 2018 ​ December 31, 2017 Net earnings (loss) ​ $ (149.1) ​ $ 110.1 ​ $ (487.2) Plus: ​ ​ ​ ​ ​ ​ ​ ​ ​ Income tax provision (benefit) ​ (22.5) ​ 13.6 ​ ​ 154.1 Interest expense ​ 340.8 ​ 342.3 ​ ​ 274.0 Depreciation and amortization ​ 450.0 ​ 537.8 ​ ​ 538.6 Impairment of long-lived assets ​ 84.3 ​ 13.8 ​ ​ 43.6 Certain operating expenses (1) ​ 14.8 ​ 24.0 ​ ​ 20.6 Equity in (earnings) loss of non-consolidated entities (2) ​ (30.6) ​ (86.7) ​ ​ 185.2 Cash distributions from non-consolidated entities (3) ​ 35.8 ​ 35.2 ​ ​ 45.4 Attributable EBITDA (4) ​ ​ 5.0 ​ ​ 7.3 ​ ​ 3.4 Investment income ​ (16.0) ​ (6.2) ​ ​ (22.6) Other expense (income) (5) ​ 13.3 ​ (108.2) ​ ​ (1.3) Non-cash rent - purchase accounting (6) ​ ​ 25.7 ​ ​ — ​ ​ — General and administrative — unallocated: ​ ​ ​ ​ ​ ​ ​ ​ ​ Merger, acquisition and other costs (7) ​ 15.5 ​ 31.3 ​ ​ 63.0 Stock-based compensation expense (8) ​ 4.4 ​ 14.9 ​ ​ 5.7 Adjusted EBITDA ​ $ 771.4 ​ $ 929.2 ​ $ 822.5 (1) Amounts represent preopening expense related to temporarily closed screens under renovation, theatre and other closure expense for the permanent closure of screens including the related accretion of interest, non-cash deferred digital equipment rent expense, and disposition of assets and other non-operating gains or losses included in operating expenses. The Company has excluded these items as they are non-cash in nature, include components of interest cost for the time value of money or are non-operating in nature. (2) During the years ended December 31, 2019 and December 31, 2018, the Company recorded $25.4 million and $29.1 million, respectively, in earnings from DCIP. During the year ended December 31, 2018, the Company recorded equity in earnings related to AMC’s sale of all remaining NCM units of $28.9 million and a gain of $30.1 million related to the Screenvision merger. Equity in earnings of non-consolidated entities also includes loss on the surrender (disposition) of a portion of AMC’s investment in NCM of $1.1 million and a lower of carrying value or fair value impairment loss of the held-for sale portion of the Company’s investment in NCM of $16.0 million for the year ended December 31 , 2018. During the year ended December 31, 2017, e quity in (earnings) loss of non-consolidated entities includes an other-than-temporary impairment charge of $208.0 million to reduce the carrying value of the Company’s investment in NCM to Level 1 fair value. An other-than-temporary impairment charge of $204.5 million was recorded on the Company’s units and shares at the publicly quoted per share price on June 30, 2017 of $7.42 and an other-than-temporary impairment charge of $3.5 million was recorded on the Company’s units and shares at the publicly quoted per share price on December 31, 2017 of $6.86 , based on the Company’s determination that the decline in the price per share during the respective quarters was other than temporary. Equity in (earnings) loss of non-consolidated entities includes loss on the sale of a portion of the Company’s investment in NCM of $22.2 million during the year ended December 31, 2017. (3) Includes U.S. non-theatre distributions from equity method investments and International non- theatre distributions from equity method investments to the extent received. The Company believes including cash distributions is an appropriate reflection of the contribution of these investments to the Company’s operations. (4) Attributable EBITDA includes the EBITDA from equity investments in theatre operators in certain International markets. See below for a reconciliation of the Company’s equity in (earnings) loss of non-consolidated entities to attributable EBITDA. Because these equity investments are in theatre operators in regions where the Company holds a significant market share, the Company believes attributable EBITDA is more indicative of the performance of these equity investments and management uses this measure to monitor and evaluate these equity investments. The Company also provides services to these theatre operators including information technology systems, certain on-screen advertising services and the Company’s gift card and package ticket program. As these investments relate only to the Company’s Nordic acquisition, the second quarter of 2017 represents the first time the Company has made this adjustment and does not impact prior historical presentations of Adjusted EBITDA. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended (In millions) December 31, 2019 December 31, 2018 ​ December 31, 2017 Equity in (earnings) loss of non-consolidated entities ​ $ (30.6) ​ $ (86.7) ​ $ 185.2 Less: ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity in (earnings) loss of non-consolidated entities excluding International theatre joint ventures ​ ​ (29.2) ​ ​ (81.9) ​ ​ 187.0 Equity in earnings of International theatre joint ventures ​ ​ 1.4 ​ ​ 4.8 ​ ​ 1.8 Income tax provision ​ ​ 0.4 ​ ​ 0.4 ​ ​ — Investment income ​ ​ (0.7) ​ ​ (0.5) ​ ​ — Depreciation and amortization ​ ​ 3.4 ​ ​ 2.6 ​ ​ 1.6 Other expense ​ ​ 0.5 ​ ​ — ​ ​ — Attributable EBITDA ​ $ 5.0 ​ $ 7.3 ​ $ 3.4 ​ (5) Other expense (income) for the year ended December 31, 2019 was primarily due to expense related to the repayment of indebtedness of $16.6 million, foreign currency transaction losses of $1.5 million, non-operating net periodic benefit cost of $1.2 million, and the decrease in fair value of the Company’s derivative asset for the contingent call option related to the Class B common stock purchase and cancellation agreement of $17.7 million, partially offset by a decrease in fair value of the Company’s derivative liability for the embedded conversion feature in its Convertible Notes due 2024 of $23.5 million. During the year ended December 31, 2018, the Company recorded a gain of $111.4 million as a result of a decrease in fair value of its derivative liability and an increase in fair value of the derivative asset for the Convertible Notes due 2024, partially offset by financing losses and financing related foreign currency transaction losses. O ther expense (income) for the year ended December 31, 2017 includes $3.0 million financing related foreign currency transaction gains, partially offset by $1.3 million in fees relating to third- party fees related to the Third Amendment to the Company’s Senior Secured Credit Agreement, and a $0.4 million loss on the redemption of the Bridge Loan Facility. (6) Reflects amortization of certain intangible assets reclassified from depreciation and amortization to rent expense, due to the adoption of ASC 842. (7) Merger, acquisition and other costs are excluded as they are non-operating in nature. (8) Non-cash or non-recurring expense included in general and administrative: other.

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)	12 Months Ended
	Dec. 31, 2019
ACCUMULATED OTHER COMPREHENSIVE LOSS
Schedule of change in accumulated other comprehensive income (loss)	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized Net ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gain (Loss) ​ ​ ​ ​ ​ ​ ​ ​ ​ Pension and ​ from Equity ​ ​ ​ ​ ​ Foreign ​ Other ​ Method Investees’ ​ ​ ​ (In millions) Currency Benefits Cash Flow Hedge Total Balance, December 31, 2018 ​ $ 7.2 ​ $ (1.8) ​ $ 0.1 ​ $ 5.5 ​ Other comprehensive loss before reclassifications ​ (16.5) ​ (15.5) ​ (0.1) ​ (32.1) ​ Amounts reclassified from accumulated other comprehensive income ​ 0.5 ​ — ​ — ​ 0.5 ​ Balance, December 31, 2019 ​ $ (8.8) ​ $ (17.3) ​ $ — ​ $ (26.1) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized Net ​ Unrealized Net ​ ​ ​ ​ ​ ​ ​ ​ Pension and ​ Gain from ​ Gain from Equity ​ ​ ​ ​ ​ Foreign ​ Other ​ Marketable ​ Method Investees’ ​ ​ ​ (In millions) Currency Benefits Securities Cash Flow Hedge Total Balance, December 31, 2017 ​ $ 129.9 ​ $ (6.6) ​ $ 0.6 ​ $ 1.7 ​ $ 125.6 ​ Other comprehensive income (loss) before reclassifications ​ (127.7) ​ 4.2 ​ — ​ 0.2 ​ (123.3) ​ Amounts reclassified from accumulated other comprehensive income ​ ​ 1.0 ​ ​ — ​ ​ — ​ ​ (2.2) ​ ​ (1.2) ​ Other comprehensive income (loss) ​ ​ (126.7) ​ ​ 4.2 ​ ​ — ​ ​ (2.0) ​ ​ (124.5) ​ Adoption of ASU 2016-01 - reclassification to retained earnings ​ — ​ — ​ (0.6) ​ — ​ (0.6) ​ Adoption of ASU 2018-02 - reclassification to retained earnings ​ 4.0 ​ 0.6 ​ — ​ 0.4 ​ 5.0 ​ Balance, December 31, 2018 ​ $ 7.2 ​ $ (1.8) ​ $ — ​ $ 0.1 ​ $ 5.5 ​ ​
Schedule of Tax Effects Allocated to Each Component of Other Comprehensive Income	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended ​ ​ December 31, 2019 ​ December 31, 2018 ​ December 31, 2017 ​ ​ Tax ​ ​ Tax ​ ​ Tax ​ ​ ​ Pre-Tax ​ (Expense) ​ Net-of-Tax ​ Pre-Tax ​ (Expense) ​ Net-of-Tax ​ Pre-Tax ​ (Expense) ​ Net-of-Tax (In millions) ​ Amount ​ Benefit ​ Amount ​ Amount ​ Benefit ​ Amount ​ Amount ​ Benefit ​ Amount Unrealized foreign currency translation adjustment (1) ​ $ (18.3) ​ $ 1.8 ​ $ (16.5) ​ $ (127.5) ​ $ (0.2) ​ $ (127.7) ​ $ 142.6 ​ $ (10.9) ​ $ 131.7 Realized loss on foreign currency transactions ​ ​ 0.5 ​ ​ — ​ ​ 0.5 ​ ​ 1.0 ​ ​ — ​ ​ 1.0 ​ ​ — ​ ​ — ​ ​ — Pension and other benefit adjustments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net gain (loss) arising during the period ​ ​ (16.1) ​ ​ 0.6 ​ ​ (15.5) ​ ​ 3.8 ​ ​ 0.4 ​ ​ 4.2 ​ ​ (2.6) ​ ​ (0.4) ​ ​ (3.0) Marketable securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized net holding gain (loss) arising during the period ​ — ​ — ​ — ​ — ​ — ​ — ​ 1.2 ​ (0.5) ​ 0.7 Realized net gain reclassified into investment expense (income) ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ (0.6) ​ ​ 0.2 ​ ​ (0.4) Equity method investee's cash flow hedge: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized net holding gain (loss) arising during the period ​ (0.1) ​ — ​ (0.1) ​ 0.2 ​ — ​ 0.2 ​ — ​ — ​ — Realized net (gain) loss reclassified into equity in earnings of non-consolidated entities ​ ​ — ​ ​ — ​ ​ — ​ ​ (2.2) ​ ​ — ​ ​ (2.2) ​ ​ (1.5) ​ ​ 0.6 ​ ​ (0.9) Other comprehensive income (loss) ​ $ (34.0) ​ $ 2.4 ​ $ (31.6) ​ $ (124.7) ​ $ 0.2 ​ $ (124.5) ​ $ 139.1 ​ $ (11.0) ​ $ 128.1 (1) Deferred tax impacts of foreign currency translation for the international operations acquired during 2017 have not been recorded due to the Company’s intent to remain permanently invested.

EARNINGS (LOSS) PER SHARE (Tabl

EARNINGS (LOSS) PER SHARE (Tables)	12 Months Ended
	Dec. 31, 2019
LOSS PER SHARE
Schedule of Computation of basic and diluted earnings (loss) per common share	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended ​ Year Ended ​ Year Ended (In millions) December 31, 2019 December 31, 2018 December 31, 2017 Numerator: ​ ​ ​ ​ ​ ​ Net earnings (loss) for basic earnings (loss) per share ​ $ (149.1) ​ $ 110.1 ​ $ (487.2) Calculation of net earnings for diluted earnings (loss) per share: ​ ​ ​ ​ ​ ​ ​ ​ ​ Marked-to-market (gain) on derivative liability ​ ​ — ​ ​ (66.4) ​ ​ — Interest expense for Convertible Notes due 2024 ​ ​ — ​ ​ 9.7 ​ ​ — Net earnings (loss) available for diluted earnings ​ $ (149.1) ​ $ 53.4 ​ $ (487.2) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Denominator ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average shares for basic earnings per common share ​ 103,832 ​ 120,621 ​ 128,246 Common equivalent shares for RSUs and PSUs ​ — ​ 29 ​ — Common equivalent shares if converted: convertible notes 2024 ​ ​ — ​ ​ 9,455 ​ ​ — Weighted average shares for diluted earnings per common share ​ 103,832 ​ 130,105 ​ 128,246 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic earnings (loss) per common share: ​ $ (1.44) ​ $ 0.91 ​ $ (3.80) Diluted earnings (loss) per common share: ​ $ (1.44) ​ $ 0.41 ​ $ (3.80)

SUPPLEMENTAL FINANCIAL INFORM_2

SUPPLEMENTAL FINANCIAL INFORMATION BY QUARTER (UNAUDITED) (Tables)	12 Months Ended
	Dec. 31, 2019
SUPPLEMENTAL FINANCIAL INFORMATION By QUARTER (UNAUDITED)
Schedule of supplemental financial information (unaudited) consolidated statements of operations by quarter	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2019 ​ ​ Quarter ​ Quarter ​ Quarter ​ Quarter ​ Year ​ ​ Ended ​ Ended ​ Ended ​ Ended ​ Ended ​ ​ March 31, ​ June 30, ​ September 30, ​ December 31, ​ December 31, (In millions, except per share data) 2019 2019 2019 2019 2019 Total revenues ​ $ 1,200.4 ​ $ 1,506.1 ​ $ 1,316.8 ​ $ 1,447.7 ​ $ 5,471.0 Operating income (loss) ​ ​ (33.7) ​ ​ 105.5 ​ ​ 20.8 ​ ​ 43.4 ​ ​ 136.0 Net earnings (loss) ​ ​ (130.2) ​ ​ 49.4 ​ ​ (54.8) ​ ​ (13.5) ​ ​ (149.1) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic earnings (loss) per share: ​ $ (1.25) ​ $ 0.48 ​ $ (0.53) ​ $ (0.13) ​ $ (1.44) Diluted earnings (loss) per share: ​ $ (1.25) ​ $ 0.17 ​ $ (0.53) ​ $ (0.13) ​ $ (1.44) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average shares outstanding: (in thousands) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic ​ ​ 103,783 ​ ​ 103,845 ​ ​ 103,850 ​ ​ 103,850 ​ ​ 103,832 Diluted ​ ​ 103,783 ​ ​ 135,528 ​ ​ 103,850 ​ ​ 103,850 ​ ​ 103,832 (1) In the first, second, third, and fourth quarters of calendar 2019, the Company recorded $28.4 million, $(41.0) million, $(2.8) million, and $9.6 million, respectively, of other expense (income) related to derivative assets and liabilities. See Note 8 — Corporate Borrowings and Finance Lease Obligations for a discussion of the derivative asset and derivative liability gains. (2) During the fourth quarter of 2019, the Company recorded non-cash impairment of long-lived assets of $84.3 million on 40 theatres in the U.S. markets with 512 screens and on 14 theatres in the International markets with 148 screens, and one U.S. property held and not used. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2018 ​ ​ Quarter ​ Quarter ​ Quarter ​ Quarter ​ Year ​ ​ Ended ​ Ended ​ Ended ​ Ended ​ Ended ​ ​ March 31, ​ June 30, ​ September 30, ​ December 31, ​ December 31, (In millions, except per share data) 2018 2018 2018 2018 2018 Total revenues ​ $ 1,383.6 ​ $ 1,442.5 ​ $ 1,221.4 ​ $ 1,413.3 ​ $ 5,460.8 Operating income (loss) ​ 109.9 ​ 89.7 ​ (21.9) ​ 87.3 ​ 265.0 Net earnings (loss) ​ ​ 17.7 ​ ​ 22.2 ​ ​ (100.4) ​ ​ 170.6 ​ ​ 110.1 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic earnings (loss) per share: ​ $ 0.14 ​ $ 0.17 ​ $ (0.82) ​ $ 1.65 ​ $ 0.91 Diluted earnings (loss) per share: ​ $ 0.14 ​ $ 0.17 ​ $ (0.82) ​ $ 0.43 ​ $ 0.41 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average shares outstanding: (in thousands) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic ​ ​ 128,046 ​ ​ 128,039 ​ ​ 123,126 ​ ​ 103,514 ​ ​ 120,621 Diluted ​ ​ 128,046 ​ ​ 128,105 ​ ​ 123,126 ​ ​ 135,450 ​ ​ 130,105 (1) In the third and fourth quarters of calendar 2018, the Company recorded $54.1 million and $(165.5) million, respectively, of other expense (income) related to derivative assets and liabilities. See Note 8 — Corporate Borrowings and Finance Lease Obligations for a discussion of the derivative asset and derivative liability gains. (2) During the fourth quarter of calendar 2018, the Company recorded non-cash impairment losses of $13.8 million on 13 theatres in the U.S. markets with 150 screens and 15 theatres in the International markets with 118 screens.

ACQUISITIONS (Tables)

ACQUISITIONS (Tables)	12 Months Ended
	Dec. 31, 2019
ACQUISITIONS
Summary of Allocation of the Purchase Price	​ ​ ​ ​ ​ (In millions) Final Cash ​ $ 71.4 Restricted cash ​ ​ 5.9 Receivables ​ ​ 13.4 Other current assets ​ ​ 23.6 Property (1) ​ ​ 133.2 Intangible assets (1) (2) ​ ​ 22.1 Goodwill (3) ​ ​ 792.9 Deferred tax asset ​ ​ 0.9 Other long-term assets (6) ​ ​ 75.2 Accounts payable ​ ​ (30.2) Accrued expenses and other liabilities ​ ​ (36.1) Deferred revenues and income ​ ​ (41.2) Term Loan Facility (SEK) ​ ​ (144.4) Term Loan Facility (EUR) ​ ​ (169.5) Revolving Credit Facility (1) ​ ​ — Capital lease and financing lease obligations (1)(4) ​ ​ (10.0) Deferred tax liability ​ ​ (18.7) Other long-term liabilities (5) ​ ​ (33.6) Total estimated purchase price ​ $ 654.9 (1) (2) ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted Average ​ Gross (In millions) ​ Amortization Period ​ Carrying Amount Acquired intangible assets: ​ ​ ​ ​ ​ ​ Amortizable intangible assets: ​ ​ ​ ​ ​ ​ Favorable leases ​ ​ 7.0 years ​ $ 3.5 Favorable subleases ​ ​ 4.0 years ​ ​ 1.1 Screen advertising agreement ​ ​ 5.0 years ​ ​ 6.6 Trade name agreement ​ ​ 4.0 years ​ ​ 0.4 Total, amortizable ​ ​ 5.5 years ​ $ 11.6 Unamortized intangible assets: ​ ​ ​ ​ ​ ​ Trade names ​ ​ ​ ​ $ 10.5 ​ (3) (4) (5) (6)

CONDENSED CONSOLIDATING FINAN_2

CONDENSED CONSOLIDATING FINANCIAL INFORMATION (Tables)	12 Months Ended
	Dec. 31, 2019
CONDENSED CONSOLIDATING FINANCIAL INFORMATION
Schedule of Condensed Statements of Operations	Consolidating Statement of Operations Year Ended December 31, 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Subsidiary ​ Subsidiary ​ Consolidating ​ Consolidated (In millions) ​ Holdings ​ Guarantors ​ Non-Guarantors ​ Adjustments ​ Holdings Revenues ​ ​ ​ ​ ​ Admissions ​ $ — ​ $ 2,388.2 ​ $ 913.1 ​ $ — ​ $ 3,301.3 Food and beverage ​ — ​ 1,348.0 ​ 371.6 ​ — ​ 1,719.6 Other theatre ​ — ​ 287.1 ​ 163.0 ​ — ​ 450.1 Total revenues ​ — ​ 4,023.3 ​ 1,447.7 ​ — ​ 5,471.0 Operating costs and expenses ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Film exhibition costs ​ — ​ 1,311.5 ​ 387.6 ​ — ​ 1,699.1 Food and beverage costs ​ — ​ 193.8 ​ 84.9 ​ — ​ 278.7 Operating expense, excluding depreciation and amortization ​ — ​ 1,215.5 ​ 471.1 ​ — ​ 1,686.6 Rent ​ — ​ 708.2 ​ 259.6 ​ — ​ 967.8 General and administrative: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Merger, acquisition and other costs ​ — ​ 6.5 ​ 9.0 ​ — ​ 15.5 Other, excluding depreciation and amortization ​ — ​ 86.4 ​ 66.6 ​ — ​ 153.0 Depreciation and amortization ​ — ​ 340.4 ​ 109.6 ​ — ​ 450.0 Impairment of long-lived assets ​ ​ — ​ ​ 76.6 ​ ​ 7.7 ​ ​ — ​ ​ 84.3 Operating costs and expenses ​ — ​ 3,938.9 ​ 1,396.1 ​ — ​ 5,335.0 Operating income ​ — ​ 84.4 ​ 51.6 ​ — ​ 136.0 Other expense (income): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity in net loss of subsidiaries ​ 382.9 ​ 151.3 ​ — ​ (534.2) ​ — Other expense (income) ​ ​ (5.2) ​ ​ 18.5 ​ ​ 0.1 ​ ​ — ​ ​ 13.4 Interest expense: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Corporate borrowings ​ 290.8 ​ 293.0 ​ 3.0 ​ (294.0) ​ 292.8 Financing lease obligations ​ — ​ 2.3 ​ 5.3 ​ — ​ 7.6 Non-cash NCM exhibitor service agreement ​ ​ — ​ ​ 40.4 ​ ​ — ​ ​ — ​ ​ 40.4 Intercompany interest expense ​ ​ — ​ ​ — ​ ​ 244.1 ​ ​ (244.1) ​ ​ — Equity in earnings of non-consolidated entities ​ — ​ (29.1) ​ (1.5) ​ — ​ (30.6) Investment income ​ (519.4) ​ (21.0) ​ (13.7) ​ 538.1 ​ (16.0) Total other expense, net ​ 149.1 ​ 455.4 ​ 237.3 ​ (534.2) ​ 307.6 Loss before income taxes ​ (149.1) ​ (371.0) ​ (185.7) ​ 534.2 ​ (171.6) Income tax provision (benefit) ​ — ​ 11.9 ​ (34.4) ​ — ​ (22.5) Net loss ​ $ (149.1) ​ $ (382.9) ​ $ (151.3) ​ $ 534.2 ​ $ (149.1) ​ ​ Consolidating Statement of Operations Year Ended December 31, 2018: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Subsidiary ​ Subsidiary ​ Consolidating ​ Consolidated (In millions) ​ Holdings ​ Guarantors ​ Non-Guarantors ​ Adjustments ​ Holdings Revenues ​ ​ ​ ​ ​ Admissions ​ $ — ​ $ 2,441.5 ​ $ 943.5 ​ $ — ​ $ 3,385.0 Food and beverage ​ — ​ 1,321.3 ​ 350.2 ​ — ​ 1,671.5 Other theatre ​ — ​ 250.4 ​ 153.9 ​ — ​ 404.3 Total revenues ​ — ​ 4,013.2 ​ 1,447.6 ​ — ​ 5,460.8 Operating costs and expenses ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Film exhibition costs ​ — ​ 1,323.1 ​ 387.1 ​ — ​ 1,710.2 Food and beverage costs ​ — ​ 190.3 ​ 80.6 ​ — ​ 270.9 Operating expense, excluding depreciation and amortization ​ — ​ 1,162.2 ​ 492.5 ​ — ​ 1,654.7 Rent ​ — ​ 584.4 ​ 213.4 ​ — ​ 797.8 General and administrative: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Merger, acquisition and other costs ​ — ​ 16.8 ​ 14.5 ​ — ​ 31.3 Other, excluding depreciation and amortization ​ — ​ 112.5 ​ 66.8 ​ — ​ 179.3 Depreciation and amortization ​ — ​ 384.0 ​ 153.8 ​ — ​ 537.8 Impairment of long-lived assets ​ ​ — ​ ​ 8.1 ​ ​ 5.7 ​ ​ — ​ ​ 13.8 Operating costs and expenses ​ — ​ 3,781.4 ​ 1,414.4 ​ — ​ 5,195.8 Operating income ​ — ​ 231.8 ​ 33.2 ​ — ​ 265.0 Other expense (income): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity in net earnings of subsidiaries ​ (14.5) ​ (13.7) ​ — ​ 28.2 ​ — Other expense (income) ​ ​ (110.5) ​ ​ 1.7 ​ ​ 0.7 ​ ​ — ​ ​ (108.1) Interest expense: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Corporate borrowings ​ 256.7 ​ 263.1 ​ 5.9 ​ (263.4) ​ 262.3 Capital and financing lease obligations ​ — ​ 17.2 ​ 21.3 ​ — ​ 38.5 Non-cash NCM exhibitor service agreement ​ ​ — ​ ​ 41.5 ​ ​ — ​ ​ — ​ ​ 41.5 Equity in earnings of non-consolidated entities ​ — ​ (81.5) ​ (5.2) ​ — ​ (86.7) Investment income ​ (241.8) ​ (27.1) ​ (0.7) ​ 263.4 ​ (6.2) Total other expense (income), net ​ (110.1) ​ 201.2 ​ 22.0 ​ 28.2 ​ 141.3 Earnings before income taxes ​ 110.1 ​ 30.6 ​ 11.2 ​ (28.2) ​ 123.7 Income tax provision (benefit) ​ — ​ 16.1 ​ (2.5) ​ — ​ 13.6 Net earnings ​ $ 110.1 ​ $ 14.5 ​ $ 13.7 ​ $ (28.2) ​ $ 110.1 ​ ​ ​ ​ ​ ​ Consolidating Statement of Operations Year Ended December 31, 2017: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Subsidiary ​ Subsidiary ​ Consolidating ​ Consolidated (In millions) ​ Holdings ​ Guarantors ​ Non-Guarantors ​ Adjustments ​ Holdings Revenues ​ ​ ​ ​ ​ Admissions ​ $ — ​ $ 2,330.9 ​ $ 898.6 ​ $ — ​ $ 3,229.5 Food and beverage ​ — ​ 1,220.1 ​ 328.3 ​ — ​ 1,548.4 Other theatre ​ — ​ 172.5 ​ 128.8 ​ — ​ 301.3 Total revenues ​ — ​ 3,723.5 ​ 1,355.7 ​ — ​ 5,079.2 Operating costs and expenses ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Film exhibition costs ​ — ​ 1,224.7 ​ 379.6 ​ — ​ 1,604.3 Food and beverage costs ​ — ​ 176.6 ​ 75.5 ​ — ​ 252.1 Operating expense, excluding depreciation and amortization ​ — ​ 1,100.6 ​ 447.4 ​ — ​ 1,548.0 Rent ​ — ​ 594.0 ​ 200.4 ​ — ​ 794.4 General and administrative: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Merger, acquisition and other costs ​ — ​ 58.3 ​ 4.7 ​ — ​ 63.0 Other, excluding depreciation and amortization ​ 2.0 ​ 82.7 ​ 48.5 ​ — ​ 133.2 Depreciation and amortization ​ — ​ 404.2 ​ 134.4 ​ — ​ 538.6 Impairment of long-lived assets ​ — ​ ​ 43.6 ​ ​ — ​ ​ — ​ ​ 43.6 Operating costs and expenses ​ 2.0 ​ 3,684.7 ​ 1,290.5 ​ — ​ 4,977.2 Operating income (loss) ​ (2.0) ​ 38.8 ​ 65.2 ​ — ​ 102.0 Other expense (income): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity in net (earnings) loss of subsidiaries ​ 472.5 ​ (45.1) ​ — ​ (427.4) ​ — Other expense (income) ​ ​ — ​ ​ (1.7) ​ ​ 0.2 ​ ​ — ​ ​ (1.5) Interest expense: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Corporate borrowings ​ 230.3 ​ 239.0 ​ 1.3 ​ (239.0) ​ 231.6 Capital and financing lease obligations ​ — ​ 20.0 ​ 22.4 ​ — ​ 42.4 Equity in earnings of non-consolidated entities ​ — ​ 187.8 ​ (2.6) ​ — ​ 185.2 Investment income ​ (217.6) ​ (43.0) ​ (1.0) ​ 239.0 ​ (22.6) Total other expense, net ​ 485.2 ​ 357.0 ​ 20.3 ​ (427.4) ​ 435.1 Earnings (loss) before income taxes ​ (487.2) ​ (318.2) ​ 44.9 ​ 427.4 ​ (333.1) Income tax provision (benefit) ​ — ​ 154.3 ​ (0.2) ​ — ​ 154.1 Net earnings (loss) ​ $ (487.2) ​ $ (472.5) ​ $ 45.1 ​ $ 427.4 ​ $ (487.2)
Schedule of Condensed Statements of Comprehensive Loss	Consolidating Statement of Comprehensive Loss Year Ended December 31, 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Subsidiary ​ Subsidiary ​ Consolidating ​ Consolidated (In millions) Holdings Guarantors Non-Guarantors Adjustments Holdings Net loss $ (149.1) $ (382.9) $ (151.3) $ 534.2 $ (149.1) ​ Other comprehensive income (loss): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity in other comprehensive loss of subsidiaries ​ (31.6) ​ 17.2 ​ — ​ 14.4 ​ — ​ Unrealized foreign currency translation adjustment, net of tax ​ ​ — ​ (44.1) ​ 27.6 ​ — ​ (16.5) ​ Realized loss on foreign currency transactions, net of tax ​ — ​ 0.5 ​ — ​ — ​ 0.5 ​ Pension and other benefit adjustments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net loss arising during the period, net of tax ​ ​ — ​ ​ (5.1) ​ ​ (10.4) ​ ​ — ​ ​ (15.5) ​ Equity method investee's cash flow hedge: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized net holding loss arising during the period, net of tax ​ — ​ (0.1) ​ — ​ — ​ (0.1) ​ Other comprehensive income (loss) ​ (31.6) ​ (31.6) ​ 17.2 ​ 14.4 ​ (31.6) ​ Total comprehensive loss ​ $ (180.7) ​ $ (414.5) ​ $ (134.1) ​ $ 548.6 ​ $ (180.7) ​ ​ ​ ​ Consolidating Statement of Comprehensive Loss Year Ended December 31, 2018: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Subsidiary ​ Subsidiary ​ Consolidating ​ Consolidated (In millions) Holdings Guarantors Non-Guarantors Adjustments Holdings Net earnings $ 110.1 $ 14.5 $ 13.7 $ (28.2) $ 110.1 ​ Other comprehensive loss: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity in other comprehensive loss of subsidiaries ​ (124.5) ​ (99.1) ​ — ​ 223.6 ​ — ​ Unrealized foreign currency translation adjustment, net of tax ​ — ​ (30.7) ​ (97.0) ​ — ​ (127.7) ​ Realized loss on foreign currency transactions reclassified into other expense, net of tax ​ ​ — ​ ​ 1.0 ​ ​ — ​ ​ — ​ ​ 1.0 ​ Pension and other benefit adjustments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net gain (loss) arising during the period, net of tax ​ — ​ 6.3 ​ (2.1) ​ — ​ 4.2 ​ Equity method investee's cash flow hedge: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized net holding gain arising during the period, net of tax ​ — ​ 0.2 ​ — ​ — ​ 0.2 ​ Realized net gain reclassified to equity in earnings of non-consolidated entities, net of tax ​ — ​ (2.2) ​ — ​ — ​ (2.2) ​ Other comprehensive loss ​ (124.5) ​ (124.5) ​ (99.1) ​ 223.6 ​ (124.5) ​ Total comprehensive loss ​ $ (14.4) ​ $ (110.0) ​ $ (85.4) ​ $ 195.4 ​ $ (14.4) ​ ​ ​ Consolidating Statement of Comprehensive Income (Loss) Year Ended December 31, 2017: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Subsidiary ​ Subsidiary ​ Consolidating ​ Consolidated (In millions) Holdings Guarantors Non-Guarantors Adjustments Holdings Net earnings (loss) $ (487.2) $ (472.5) $ 45.1 $ 427.4 $ (487.2) Other comprehensive income (loss) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity in other comprehensive income of subsidiaries ​ 128.1 ​ 112.1 ​ — ​ (240.2) ​ — Unrealized foreign currency translation adjustment, net of tax ​ — ​ 22.0 ​ 109.7 ​ — ​ 131.7 Pension and other benefit adjustments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net gain (loss) arising during the period, net of tax ​ — ​ (5.4) ​ 2.4 ​ — ​ (3.0) Marketable securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized net holding gain arising during the period, net of tax ​ — ​ 0.7 ​ — ​ — ​ 0.7 Realized net gain reclassified into net investment income, net of tax ​ — ​ (0.4) ​ — ​ — ​ (0.4) Equity method investee's cash flow hedge: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Realized net gain reclassified into equity in earnings of non-consolidated entities, net of tax ​ — ​ (0.9) ​ — ​ — ​ (0.9) Other comprehensive income ​ 128.1 ​ 128.1 ​ 112.1 ​ (240.2) ​ 128.1 Total comprehensive income (loss) ​ $ (359.1) ​ $ (344.4) ​ $ 157.2 ​ $ 187.2 ​ $ (359.1)
Schedule of Condensed Balance Sheets	Consolidating Balance Sheet As of December 31, 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Subsidiary ​ Subsidiary ​ Consolidating ​ Consolidated (In millions) ​ Holdings ​ Guarantors ​ Non-Guarantors ​ Adjustments ​ Holdings Assets ​ ​ ​ ​ ​ Current assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and cash equivalents ​ $ 0.3 ​ $ 94.9 ​ $ 169.8 ​ $ — ​ $ 265.0 Restricted cash ​ ​ — ​ ​ — ​ ​ 10.5 ​ ​ — ​ ​ 10.5 Receivables, net ​ — ​ 160.1 ​ 104.0 ​ (9.9) ​ 254.2 Other current assets ​ — ​ 108.5 ​ 34.9 ​ — ​ 143.4 Total current assets ​ 0.3 ​ 363.5 ​ 319.2 ​ (9.9) ​ 673.1 Investment in equity of subsidiaries ​ 452.6 ​ 1,962.8 ​ — ​ (2,415.4) ​ — Property, net ​ — ​ 1,969.3 ​ 679.9 ​ — ​ 2,649.2 Operating lease right-of-use assets, net ​ ​ — ​ ​ 3,491.8 ​ ​ 1,304.2 ​ ​ — ​ ​ 4,796.0 Intangible assets, net ​ — ​ 130.6 ​ 64.7 ​ — ​ 195.3 Intercompany advances ​ 5,488.0 ​ (5,097.7) ​ (390.3) ​ — ​ — Goodwill ​ (2.1) ​ 3,074.7 ​ 1,716.5 ​ — ​ 4,789.1 Deferred tax asset, net ​ — ​ — ​ 70.1 ​ — ​ 70.1 Other long-term assets ​ 47.4 ​ 328.0 ​ 127.6 ​ — ​ 503.0 Total assets ​ $ 5,986.2 ​ $ 6,223.0 ​ $ 3,891.9 ​ $ (2,425.3) ​ $ 13,675.8 Liabilities and Stockholders’ Equity ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accounts payable ​ $ — ​ $ 382.8 ​ $ 170.5 ​ $ (10.0) ​ $ 543.3 Accrued expenses and other liabilities ​ 18.6 ​ 184.0 ​ 121.9 ​ 0.1 ​ 324.6 Deferred revenues and income ​ — ​ 348.9 ​ 100.3 ​ — ​ 449.2 Current maturities of corporate borrowings ​ 20.0 ​ — ​ — ​ — ​ 20.0 Current maturities of finance lease liabilities ​ ​ — ​ ​ 5.3 ​ ​ 5.0 ​ ​ — ​ ​ 10.3 Current maturities of operating lease liabilities ​ ​ — ​ ​ 449.5 ​ ​ 136.3 ​ ​ — ​ ​ 585.8 Total current liabilities ​ 38.6 ​ 1,370.5 ​ 534.0 ​ (9.9) ​ 1,933.2 Corporate borrowings ​ 4,733.4 ​ — ​ — ​ — ​ 4,733.4 Finance lease liabilities ​ — ​ 13.9 ​ 75.7 ​ — ​ 89.6 Operating lease liabilities ​ ​ — ​ ​ 3,666.8 ​ ​ 1,247.0 ​ ​ ​ ​ ​ 4,913.8 Exhibitor services agreement ​ — ​ 549.7 ​ — ​ — ​ 549.7 Deferred tax liability, net ​ ​ — ​ ​ 26.8 ​ ​ 19.2 ​ ​ — ​ ​ 46.0 Other long-term liabilities ​ — ​ 142.7 ​ 53.2 ​ — ​ 195.9 Total liabilities ​ 4,772.0 ​ 5,770.4 ​ 1,929.1 ​ (9.9) ​ 12,461.6 Stockholders’ equity ​ 1,214.2 ​ 452.6 ​ 1,962.8 ​ (2,415.4) ​ 1,214.2 Total liabilities and stockholders’ equity ​ $ 5,986.2 ​ $ 6,223.0 ​ $ 3,891.9 ​ $ (2,425.3) ​ $ 13,675.8 ​ ​ Consolidating Balance Sheet As of December 31, 2018: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Subsidiary ​ Subsidiary ​ Consolidating ​ Consolidated (In millions) ​ Holdings ​ Guarantors ​ Non-Guarantors ​ Adjustments ​ Holdings Assets ​ ​ ​ ​ ​ Current assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and cash equivalents ​ $ 0.3 ​ $ 177.8 ​ $ 135.2 ​ $ — ​ $ 313.3 Restricted cash ​ ​ — ​ ​ — ​ ​ 10.7 ​ ​ — ​ ​ 10.7 Receivables, net ​ — ​ 163.0 ​ 100.9 ​ (4.4) ​ 259.5 Other current assets ​ — ​ 140.7 ​ 57.1 ​ — ​ 197.8 Total current assets ​ 0.3 ​ 481.5 ​ 303.9 ​ (4.4) ​ 781.3 Investment in equity of subsidiaries ​ 719.0 ​ 1,430.1 ​ — ​ (2,149.1) ​ — Property, net ​ — ​ 2,152.3 ​ 887.3 ​ — ​ 3,039.6 Intangible assets, net ​ — ​ 225.6 ​ 126.5 ​ — ​ 352.1 Intercompany advances ​ 5,362.3 ​ (4,512.3) ​ (850.0) ​ — ​ — Goodwill ​ (2.1) ​ 3,074.7 ​ 1,716.1 ​ — ​ 4,788.7 Deferred tax asset, net ​ — ​ — ​ 28.6 ​ — ​ 28.6 Other long-term assets ​ 59.8 ​ 316.2 ​ 129.5 ​ — ​ 505.5 Total assets ​ $ 6,139.3 ​ $ 3,168.1 ​ $ 2,341.9 ​ $ (2,153.5) ​ $ 9,495.8 Liabilities and Stockholders’ Equity ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accounts payable ​ $ — ​ $ 327.2 ​ $ 129.9 ​ $ (4.5) ​ $ 452.6 Accrued expenses and other liabilities ​ 31.5 ​ 197.5 ​ 149.4 ​ 0.1 ​ 378.5 Deferred revenues and income ​ — ​ 314.0 ​ 100.8 ​ — ​ 414.8 Current maturities of corporate borrowings ​ ​ 13.8 ​ ​ 1.4 ​ ​ — ​ ​ — ​ ​ 15.2 Current maturities of capital and financing lease obligations ​ — ​ 38.6 ​ 28.4 ​ — ​ 67.0 Total current liabilities ​ 45.3 ​ 878.7 ​ 408.5 ​ (4.4) ​ 1,328.1 Corporate borrowings ​ 4,696.0 ​ — ​ 11.8 ​ — ​ 4,707.8 Capital and financing lease obligations ​ — ​ 194.3 ​ 298.9 ​ — ​ 493.2 Exhibitor services agreement ​ — ​ 564.0 ​ — ​ — ​ 564.0 Deferred tax liability, net ​ ​ — ​ ​ 17.7 ​ ​ 23.9 ​ ​ — ​ ​ 41.6 Other long-term liabilities ​ — ​ 794.4 ​ 168.7 ​ — ​ 963.1 Total liabilities ​ 4,741.3 ​ 2,449.1 ​ 911.8 ​ (4.4) ​ 8,097.8 Temporary equity ​ 0.4 ​ — ​ — ​ — ​ 0.4 Stockholders’ equity ​ 1,397.6 ​ 719.0 ​ 1,430.1 ​ (2,149.1) ​ 1,397.6 Total liabilities and stockholders’ equity ​ $ 6,139.3 ​ $ 3,168.1 ​ $ 2,341.9 ​ $ (2,153.5) ​ $ 9,495.8
Schedule of Condensed Statements of Cash Flows	Consolidating Statement of Cash Flows Year Ended December 31, 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Subsidiary ​ Subsidiary ​ Consolidating ​ Consolidated (In millions) ​ Holdings ​ Guarantors ​ Non-Guarantors ​ Adjustments ​ Holdings Cash flows from operating activities: ​ ​ ​ ​ ​ Net cash provided by operating activities ​ $ 51.1 ​ $ 316.6 ​ $ 211.3 ​ $ — ​ $ 579.0 Cash flows from investing activities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Capital expenditures ​ — ​ (369.4) ​ (148.7) ​ — ​ (518.1) Acquisition of theatre assets ​ ​ — ​ ​ (11.8) ​ ​ — ​ ​ — ​ ​ (11.8) Proceeds from disposition of long-term assets ​ — ​ 7.9 ​ 15.3 ​ — ​ 23.2 Investments in non-consolidated entities, net ​ — ​ (0.1) ​ (9.6) ​ — ​ (9.7) Other, net ​ — ​ 0.3 ​ — ​ — ​ 0.3 Net cash used in investing activities ​ — ​ (373.1) ​ (143.0) ​ — ​ (516.1) Cash flows from financing activities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Proceeds from issuance of Term Loan due 2026 ​ ​ 1,990.0 ​ ​ — ​ ​ — ​ ​ — ​ ​ 1,990.0 Payment of principal Senior Secured Notes due 2023 ​ ​ (230.0) ​ ​ — ​ ​ — ​ ​ — ​ ​ (230.0) Payment of principal Senior Subordinated Notes due 2022 ​ ​ (375.0) ​ ​ — ​ ​ — ​ ​ — ​ ​ (375.0) Call premiums paid for Senior Secured Notes due 2023 and Senior Subordinated Notes due 2022 ​ ​ (15.9) ​ ​ — ​ ​ — ​ ​ — ​ ​ (15.9) Principal payments under Term Loans due 2022 and 2023 ​ (1,338.5) ​ — ​ — ​ — ​ (1,338.5) Repayments under Revolving Credit Facility ​ ​ — ​ ​ — ​ ​ (12.0) ​ ​ — ​ ​ (12.0) Scheduled principal payments under Term Loans ​ ​ (21.9) ​ ​ — ​ ​ — ​ ​ — ​ ​ (21.9) Principal payments under finance lease obligations ​ ​ — ​ ​ (6.1) ​ ​ (4.8) ​ ​ — ​ ​ (10.9) Principal payments under promissory note ​ ​ — ​ ​ (1.4) ​ ​ — ​ ​ — ​ ​ (1.4) Cash used to pay deferred financing fees ​ (11.9) ​ — ​ — ​ — ​ (11.9) Cash used to pay dividends ​ (84.1) ​ — ​ — ​ — ​ (84.1) Taxes paid for restricted unit withholdings ​ ​ (1.3) ​ ​ — ​ ​ — ​ ​ — ​ ​ (1.3) Change in intercompany advances ​ ​ 16.1 ​ ​ 3.1 ​ ​ (19.2) ​ ​ — ​ ​ — Net cash used in financing activities ​ (72.5) ​ (4.4) ​ (36.0) ​ — ​ (112.9) Effect of exchange rate changes on cash and cash equivalents and restricted cash ​ 21.4 ​ (22.0) ​ 2.1 ​ — ​ 1.5 Net increase (decrease) in cash and cash equivalents and restricted cash ​ ​ — ​ (82.9) ​ 34.4 ​ — ​ (48.5) Cash and cash equivalents and restricted cash at beginning of period ​ 0.3 ​ 177.8 ​ 145.9 ​ — ​ 324.0 Cash and cash equivalents and restricted cash at end of period ​ $ 0.3 ​ $ 94.9 ​ $ 180.3 ​ $ — ​ $ 275.5 ​ ​ Consolidating Statement of Cash Flows Year Ended December 31, 2018: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Subsidiary ​ Subsidiary ​ Consolidating ​ Consolidated (In millions) ​ Holdings Guarantors ​ Non-Guarantors ​ Adjustments ​ Holdings Cash flows from operating activities: ​ ​ ​ ​ ​ Net cash provided by operating activities ​ $ 7.2 ​ $ 369.8 ​ $ 146.2 ​ $ — ​ $ 523.2 Cash flows from investing activities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Capital expenditures ​ — ​ (395.5) ​ (180.8) ​ — ​ (576.3) Proceeds from sale leaseback transactions ​ ​ — ​ ​ 50.1 ​ ​ — ​ ​ — ​ ​ 50.1 Proceeds from disposition of NCM ​ ​ — ​ ​ 162.5 ​ ​ — ​ ​ — ​ ​ 162.5 Proceeds from Screenvision merger ​ ​ — ​ ​ 45.8 ​ ​ — ​ ​ — ​ ​ 45.8 Proceeds from disposition of long-term assets ​ ​ — ​ ​ 8.5 ​ ​ 5.7 ​ ​ — ​ ​ 14.2 Investments in non-consolidated entities, net ​ — ​ (11.4) ​ — ​ — ​ (11.4) Other, net ​ — ​ (3.6) ​ 1.5 ​ — ​ (2.1) Net cash used in investing activities ​ — ​ (143.6) ​ (173.6) ​ — ​ (317.2) Cash flows from financing activities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Proceeds from issuance of convertible note due 2024 ​ ​ 600.0 ​ ​ — ​ ​ — ​ ​ — ​ ​ 600.0 Net borrowings under revolving credit facilities ​ ​ — ​ ​ — ​ ​ 12.1 ​ ​ — ​ ​ 12.1 Scheduled principal payments under Term Loans ​ (13.8) ​ — ​ — ​ — ​ (13.8) Principal payments under capital and financing lease obligations ​ ​ — ​ ​ (39.8) ​ ​ (31.2) ​ ​ — ​ ​ (71.0) Principal payments under promissory note ​ ​ — ​ ​ (1.4) ​ ​ — ​ ​ — ​ ​ (1.4) Cash used to pay deferred financing fees ​ (15.5) ​ — ​ — ​ — ​ (15.5) Cash used to pay dividends ​ (258.1) ​ — ​ — ​ — ​ (258.1) Taxes paid for restricted unit withholdings ​ ​ (1.7) ​ ​ — ​ ​ — ​ ​ — ​ ​ (1.7) Retirement of Class B common stock ​ ​ (423.6) ​ ​ — ​ ​ — ​ ​ — ​ ​ (423.6) Purchase of treasury stock ​ ​ (21.8) ​ ​ — ​ ​ — ​ ​ — ​ ​ (21.8) Change in intercompany advances ​ ​ 167.1 ​ ​ (144.7) ​ ​ (22.4) ​ ​ — ​ ​ — Net cash provided by (used in) financing activities ​ 32.6 ​ (185.9) ​ (41.5) ​ — ​ (194.8) Effect of exchange rate changes on cash and cash equivalents and restricted cash ​ (40.6) ​ 41.6 ​ (6.5) ​ — ​ (5.5) Net increase (decrease) in cash and cash equivalents and restricted cash ​ ​ (0.8) ​ 81.9 ​ (75.4) ​ — ​ 5.7 Cash and cash equivalents and restricted cash at beginning of period ​ 1.1 ​ 95.9 ​ 221.3 ​ — ​ 318.3 Cash and cash equivalents and restricted cash at end of period ​ $ 0.3 ​ $ 177.8 ​ $ 145.9 ​ $ — ​ $ 324.0 ​ ​ Consolidating Statement of Cash Flows Year Ended December 31, 2017: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Subsidiary ​ Subsidiary ​ Consolidating ​ Consolidated (In millions) ​ Holdings Guarantors ​ Non-Guarantors ​ Adjustments ​ Holdings Cash flows from operating activities: ​ ​ ​ ​ ​ Net cash provided by (used in) operating activities ​ $ (10.2) ​ $ 364.3 ​ $ 183.3 ​ $ — ​ $ 537.4 Cash flows from investing activities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Capital expenditures ​ — ​ (543.8) ​ (83.0) ​ — ​ (626.8) Acquisition of Nordic Cinemas Group, net of cash and restricted cash acquired ​ ​ — ​ ​ (654.9) ​ ​ 77.3 ​ ​ — ​ ​ (577.6) Proceeds from sale leaseback transactions ​ ​ — ​ ​ 136.2 ​ ​ — ​ ​ — ​ ​ 136.2 Proceeds from disposition of NCM ​ ​ — ​ ​ 89.0 ​ ​ — ​ ​ — ​ ​ 89.0 Proceeds from disposition of Open Road ​ — ​ 9.2 ​ — ​ — ​ 9.2 Proceeds (disbursements) from disposition of long-term assets ​ ​ — ​ 34.9 ​ (10.8) ​ — ​ 24.1 Investments in non-consolidated entities, net ​ — ​ (11.1) ​ — ​ — ​ (11.1) Other, net ​ — ​ (2.1) ​ (0.2) ​ — ​ (2.3) Net cash used in investing activities ​ — ​ (942.6) ​ (16.7) ​ — ​ (959.3) Cash flows from financing activities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Proceeds from the issuance of Senior Subordinated Sterling Notes due 2024 ​ ​ 327.8 ​ ​ — ​ ​ — ​ ​ — ​ ​ 327.8 Proceeds from the issuance of Senior Subordinated Notes due 2027 ​ ​ 475.0 ​ ​ — ​ ​ — ​ ​ — ​ ​ 475.0 Payment of Nordic SEK Term Loan ​ ​ (144.4) ​ ​ — ​ ​ — ​ ​ — ​ ​ (144.4) Payment of Nordic EUR Term Loan ​ ​ (169.5) ​ ​ — ​ ​ — ​ ​ — ​ ​ (169.5) Net proceeds from equity offering ​ ​ 616.8 ​ ​ — ​ ​ — ​ ​ — ​ ​ 616.8 Principal payment of Bridge Loan due 2017 ​ ​ (350.0) ​ ​ — ​ ​ — ​ ​ — ​ ​ (350.0) Scheduled principal payments under Term Loans ​ ​ (12.6) ​ ​ — ​ ​ — ​ ​ — ​ ​ (12.6) Principal payments under capital and financing lease obligations ​ ​ — ​ ​ (41.6) ​ ​ (29.1) ​ — ​ ​ (70.7) Principal payments under promissory note ​ ​ — ​ ​ (1.4) ​ ​ — ​ — ​ (1.4) Cash used to pay deferred financing fees ​ ​ (29.8) ​ ​ — ​ ​ (3.8) ​ ​ — ​ ​ (33.6) Cash used to pay dividends ​ (104.6) ​ — ​ — ​ — ​ (104.6) Taxes paid for restricted unit withholdings ​ ​ (6.5) ​ ​ — ​ — ​ — ​ ​ (6.5) Purchase of treasury stock ​ ​ (34.0) ​ ​ — ​ — ​ — ​ ​ (34.0) Change in intercompany advances ​ ​ (616.7) ​ ​ 662.1 ​ ​ (45.4) ​ ​ — ​ ​ — Net cash provided by (used) in financing activities ​ (48.5) ​ 619.1 ​ (78.3) ​ — ​ 492.3 Effect of exchange rate changes on cash and equivalents ​ 56.8 ​ (53.5) ​ 14.4 ​ — ​ 17.7 Net increase (decrease) in cash and equivalents ​ ​ (1.9) ​ (12.7) ​ 102.7 ​ — ​ 88.1 Cash and equivalents at beginning of period ​ 3.0 ​ 108.6 ​ 118.6 ​ — ​ 230.2 Cash and equivalents at end of period ​ $ 1.1 ​ $ 95.9 ​ $ 221.3 ​ $ — ​ $ 318.3

THE COMPANY AND SIGNIFICANT A_4

THE COMPANY AND SIGNIFICANT ACCOUNTING POLICIES (Details) kr in Millions	Jan. 01, 2018USD ($)	Dec. 31, 2019SEK (kr)itemsegment	Dec. 31, 2019USD ($)itemsegment	Dec. 31, 2018SEK (kr)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Sep. 14, 2018
Schedule of Equity Method Investments [Line Items]
Number of reportable segments | segment		2	2
Percentage of revenue related to sales of gift cards and packaged tickets deferred		100.00%	100.00%
Non-redemption rate			10.00%
Period over which total amount of breakage for that current month's sales in proportion to the pattern of actual redemptions is recognized		24 years	24 years
Period during which breakage for packaged tickets continues to be recognized as redemption if not used after being purchased						18 months
Film Exhibition Costs
Film exhibition cost payable			$ 166,500,000		$ 168,600,000
Exhibitor Services Agreement
Cumulative effect adjustments for the adoption of new accounting principles	$ 52,900,000				(31,800,000)
Income tax effect	$ 0
Customer Frequency Program
Insider tier, annual membership fee			$ 15
Premiere tier, number of points for virtual reward | item		5,000	5,000
Premiere tier, virtual award			$ 5
Advertising Costs
Advertising Expense			42,600,000		45,400,000	$ 39,900,000
Derivative Asset and Liability
Increase in derivative asset		kr 17.7	(17,700,000)	kr (45)	45,000,000
Derivative liability fair value adjustment for embedded conversion feature in the Convertible Notes due 2024		kr (23.5)	$ (23,500,000)	kr (66.4)	$ (66,400,000)
Minimum
Schedule of Equity Method Investments [Line Items]
Non-redemption rate			12.00%
Exhibitor Services Agreement
Discount rate			6.50%
Customer Frequency Program
A-List, monthly membership fee			$ 19.95
Maximum
Schedule of Equity Method Investments [Line Items]
Ownership percentage			50.00%
Non-redemption rate			18.00%
Exhibitor Services Agreement
Discount rate			8.50%
Customer Frequency Program
A-List, monthly membership fee			$ 23.95
Wanda
Schedule of Equity Method Investments [Line Items]
Ownership percentage			49.85%
Combined voting power held in Holdings (as a percent)			74.89%
Wanda | Minimum
Schedule of Equity Method Investments [Line Items]
Ownership percentage							50.10%

THE COMPANY AND SIGNIFICANT A_5

THE COMPANY AND SIGNIFICANT ACCOUNTING POLICIES - Investments, Goodwill, Payables, Leases (Details) $ in Millions	Sep. 30, 2019USD ($)	Jun. 18, 2018USD ($)item	Dec. 18, 2017USD ($)item	Sep. 14, 2017USD ($)item	Dec. 31, 2019USD ($)	Dec. 31, 2019USD ($)item	Dec. 31, 2018USD ($)item	Dec. 31, 2017USD ($)	Sep. 30, 2018USD ($)	Sep. 14, 2018USD ($)	Dec. 26, 2013
Investments
Impairment of intangible assets						$ 0	$ 0	$ 0
Number of theatres | item						4
Number of Reporting Units | item						2	3
Convertible Debt, Noncurrent										$ 600
Goodwill					$ 4,789.1	$ 4,789.1	$ 4,788.7	4,931.7
Goodwill impairment	$ 0						0
Percentage of company's market enterprise value					80.00%
Accounts payable related to checks issued but not yet presented to bank					$ 40.9	$ 40.9	42.6
Optional renewal term, operating lease					20 years	20 years
ROU Assets					$ 4,796	$ 4,796
Total Lease Liabilities					5,499.6	5,499.6
Reduction of rent							35
Number of theatres sold | item		1	1	7
Net proceeds		$ 50.1		$ 128.4
Deferred gain on sale		$ 27.3		$ 78.2	102.4	102.4
Closing costs			$ 7.8
Recognized Gain loss			$ (0.5)
U.S.
Investments
Goodwill					3,072.6	3,072.6	3,072.6	3,072.6
Percentage the reporting unit's carrying value exceeds its fairvalue	9.90%
International markets
Investments
Goodwill					$ 1,716.5	$ 1,716.5	$ 1,716.1	$ 1,859.1
Percentage the reporting unit's carrying value exceeds its fairvalue	11.80%
Nordic
Investments
Ownership percentage					50.00%	50.00%
Number of theatres | item						55
Minimum
Investments
Initial base terms of operating leases					12 years	12 years
Operating lease, remaining lease term						1 year
Maximum
Investments
Ownership percentage					50.00%	50.00%
Initial base terms of operating leases					15 years	15 years
Operating lease, remaining lease term						25 years
NCM
Investments
Ownership percentage		4.50%									4.00%
SV Holdco
Investments
Ownership percentage					18.20%	18.20%
SV Holdco | Class C Units
Investments
Ownership percentage					18.20%	18.20%
DCM
Investments
Ownership percentage					50.00%	50.00%
AC JV, LLC
Investments
Ownership percentage					32.00%	32.00%
DCIP
Investments
Ownership percentage					29.00%	29.00%
DCDC
Investments
Ownership percentage					14.60%	14.60%
SSC
Investments
Ownership percentage					10.00%	10.00%
U.S. theatres and IMAX screen
Investments
Ownership percentage					50.00%	50.00%
Number of theatres | item						4
6.375% Senior Subordinated Notes due 2024
Investments
Convertible Debt, Noncurrent									$ 600

THE COMPANY AND SIGNIFICANT A_6

THE COMPANY AND SIGNIFICANT ACCOUNTING POLICIES - Impairment of assets (Details) - USD ($) $ in Millions	Dec. 29, 2017	Jun. 30, 2017	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
THE COMPANY AND SIGNIFICANT ACCOUNTING POLICIES
Impairment of long-lived assets			$ 13.8	$ 84.3	$ 13.8	$ 43.6
Investment expense (income)	$ 3.5	$ 204.5		3.6
Total losses				$ 87.9	$ 13.8	$ 43.6

THE COMPANY AND SIGNIFICANT A_7

THE COMPANY AND SIGNIFICANT ACCOUNTING POLICIES - Impairment, Taxes, Insurance (Details) £ in Millions	3 Months Ended		12 Months Ended
	Dec. 31, 2019USD ($)item	Dec. 31, 2018USD ($)item	Dec. 31, 2019USD ($)item	Dec. 31, 2018USD ($)item	Dec. 31, 2017USD ($)item	Dec. 31, 2019GBP (£)	Dec. 31, 2018GBP (£)	Mar. 17, 2017GBP (£)	Nov. 08, 2016GBP (£)
Impairment losses
Impairment of assets | $		$ 13,800,000	$ 84,300,000	$ 13,800,000	$ 43,600,000
Total impairment loss | $			87,900,000	$ 13,800,000	$ 43,600,000
Impairment of property | $			$ 3,600,000
U.S.
Impairment losses
Impairment of assets | $	$ 84,300,000
Tangible asset impairment, number of theatres	40
Tangible asset impairment, number of screens	512
International markets
Impairment losses
Tangible asset impairment, number of theatres	14
Tangible asset impairment, number of screens	148	118
6.375% Senior Subordinated Notes due 2024
Foreign Currency Translation [Abstract]
Debt instrument face amount | £						£ 500	£ 500	£ 250	£ 250
Stated interest rate (as a percent)					6.375%	6.375%	6.375%	6.375%	6.375%
Impairment Of LongLived Assets
Impairment losses
Tangible asset impairment, number of screens			512
Impairment Of LongLived Assets | U.S.
Impairment losses
Tangible asset impairment, number of theatres		13	13		12
Tangible asset impairment, number of screens		150	150		179
Impairment Of LongLived Assets | International markets
Impairment losses
Tangible asset impairment, number of theatres		15	14	15
Tangible asset impairment, number of screens			148	118

THE COMPANY AND SIGNIFICANT A_8

THE COMPANY AND SIGNIFICANT ACCOUNTING POLICIES - Employee benefit Plan (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2020
Net periodic benefit cost
Net periodic benefit cost	$ 1,700	$ 1,100	$ 600
U.S. Pension Benefits
Pension plans with accumulated benefit obligations and projected benefit obligations in excess of plan assets
Aggregated projected benefit obligation at end of period (1)(2)	(115,900)	(101,100)
Aggregated fair value of plan assets at end of period	76,300	63,200
Net (liability) asset for benefit cost - funded status	(39,600)	(37,900)
Aggregated accumulated benefit obligation	$ 115,900	$ 101,100
Weighted-average assumptions used to determine net periodic benefit cost
Discount rate (as a percent)	4.12%	3.42%	3.92%
Weighted average expected long-term return on plan assets (as a percent)	6.70%	7.00%	7.00%
Net periodic benefit cost
Net periodic benefit cost	$ 1,700	$ 1,100	$ 600
U.S. Pension Benefits | Forecast
Pension plans with accumulated benefit obligations and projected benefit obligations in excess of plan assets
Aggregated projected benefit obligation				$ 5,100
International Pension Benefits
Pension plans with accumulated benefit obligations and projected benefit obligations in excess of plan assets
Aggregated projected benefit obligation at end of period (1)(2)	(120,500)	(98,600)
Aggregated fair value of plan assets at end of period	119,400	107,200
Net (liability) asset for benefit cost - funded status	(1,100)	8,600
Aggregated accumulated benefit obligation	$ 117,200	$ 95,800
Weighted-average assumptions used to determine benefit obligations
Rate of compensation increase (as a percent)	2.19%	2.19%	2.14%
Weighted-average assumptions used to determine net periodic benefit cost
Discount rate (as a percent)	2.86%	2.58%	2.70%
Weighted average expected long-term return on plan assets (as a percent)	2.99%	2.86%	2.85%
Rate of compensation increase (as a percent)	2.19%	2.19%	2.14%
International Pension Benefits | Forecast
Pension plans with accumulated benefit obligations and projected benefit obligations in excess of plan assets
Aggregated projected benefit obligation				$ 0
Pension Benefits | U.S. Pension Benefits
Weighted-average assumptions used to determine benefit obligations
Discount rate (as a percent)	3.07%	4.12%
Pension Benefits | International Pension Benefits
Weighted-average assumptions used to determine benefit obligations
Discount rate (as a percent)	1.97%	2.86%
Rate of compensation increase (as a percent)	2.27%	2.19%
Weighted-average assumptions used to determine net periodic benefit cost
Rate of compensation increase (as a percent)	2.27%	2.19%

THE COMPANY AND SIGNIFICANT A_9

THE COMPANY AND SIGNIFICANT ACCOUNTING POLICIES - Pension plan (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Equity Securities - International
Employee benefit plan disclosures
Target Allocation (as a percent)	27.00%
Bond market fund
Employee benefit plan disclosures
Target Allocation (as a percent)	43.00%
Private Real Estate
Employee benefit plan disclosures
Target Allocation (as a percent)	23.00%
U.S. Pension Benefits
Employee benefit plan disclosures
Aggregated fair value of plan assets at end of period	$ 76.3	$ 63.2
U.S. Pension Benefits | Significant other observable inputs (Level 2)
Employee benefit plan disclosures
Valuation percentage of plan assets	93.00%
U.S. Pension Benefits | Investments at net Asset value
Employee benefit plan disclosures
Valuation percentage of plan assets	7.00%
International Pension Benefits
Employee benefit plan disclosures
Aggregated fair value of plan assets at end of period	$ 119.4	$ 107.2
International Pension Benefits | Quoted prices in active market (Level 1)
Employee benefit plan disclosures
Valuation percentage of plan assets	2.00%
International Pension Benefits | Investments at net Asset value
Employee benefit plan disclosures
Valuation percentage of plan assets	61.00%
International Pension Benefits | Collective trust fund
Employee benefit plan disclosures
Valuation percentage of plan assets	37.00%
International Pension Benefits and Terminated U.S. Retiree Health Plan
Employee benefit plan disclosures
Target Allocation (as a percent)	7.00%

THE COMPANY AND SIGNIFICANT _10

THE COMPANY AND SIGNIFICANT ACCOUNTING POLICIES - Employee benefit plans (Details)	12 Months Ended
	Dec. 31, 2019age
EMPLOYEE BENEFIT PLANS
Qualification age of employees for participation in the 401(k) savings plan	21
Employer match of employee contributions of first 3% of eligible compensation (as a percent)	100.00%
Percentage of eligible compensation, matched 100% by employer	3.00%
Employer's match of employee's contributions of the next 5% of eligible compensation (as a percent)	50.00%
Percentage of eligible compensation, matched 50% by employer	5.00%

THE COMPANY AND SIGNIFICANT _11

THE COMPANY AND SIGNIFICANT ACCOUNTING POLICIES - Casualty Insurance (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Casualty Insurance
Self-insured amount for general liability per occurrence	$ 1
Deductible limit per occurrence for workers compensation claims	0.5
Casualty insurance reserves, net of estimated insurance recoveries	29.4	$ 24.9
Expenses related to general liability and workers compensation claims	$ 32.6	$ 25.1	$ 22.1

THE COMPANY AND SIGNIFICANT _12

THE COMPANY AND SIGNIFICANT ACCOUNTING POLICIES - Other Expense (Income) (Details) kr in Millions, $ in Millions	3 Months Ended			12 Months Ended
	Dec. 31, 2019USD ($)	Mar. 31, 2019USD ($)	Sep. 30, 2018USD ($)	Dec. 31, 2019SEK (kr)	Dec. 31, 2019USD ($)	Dec. 31, 2018SEK (kr)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
THE COMPANY AND SIGNIFICANT ACCOUNTING POLICIES
Derivative liability fair value adjustment for embedded conversion feature in the Convertible Notes due 2024				kr (23.5)	$ (23.5)	kr (66.4)	$ (66.4)
Derivative asset fair value adjustment for contingent call option related to the Class B common stock purchase and cancellation agreement				kr (17.7)	17.7	kr 45	(45)
Business interruption insurance recoveries					(1.1)		(0.4)	$ (0.4)
Loss on GBP forward contract					0.9		0.4
Foreign currency transactions (gain) losses					1.5		1.4	(3)
Non-operating components of net periodic benefit cost					1.2		0.8	0.2
Loss on repayment of indebtedness					16.6			0.4
Fees related to modification of term loans							0.4
Third party fees relating to Third Amendment to out Senior Secured Credit Agreement	$ 9.6	$ 28.4	$ 54.1					1
Other					0.1		0.7	0.3
Other expense (income)					$ 13.4		$ (108.1)	$ (1.5)

THE COMPANY AND SIGNIFICANT _13

THE COMPANY AND SIGNIFICANT ACCOUNTING POLICIES - New accounting pronouncements recently adopted (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Jan. 01, 2018	Dec. 31, 2016
Leases
Lease liabilities	$ 5,499.6
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Increase to accumulated deficit		$ 31.8		$ (52.9)
Other general and administrative	153	179.3	$ 133.2
Cash and restricted cash
Cash and cash equivalents	265	313.3	310
Restricted Cash and Cash Equivalents	10.5	10.7	8.3
Total cash, cash equivalents, and restricted cash shown in the consolidated statements of cash flows	275.5	324	$ 318.3		$ 230.2
Accumulated other comprehensive income (loss)	$ (26.1)	5.5
Accounting Standards Update 2017-07 [Member]
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Other general and administrative		(0.2)
Other income		$ (0.2)
Accounting Standards Update 2018-02 [Member]
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Increase to accumulated deficit				5
Accounting Standards Update 2016-01 [Member]
Cash and restricted cash
Accumulated other comprehensive income (loss)				$ (0.6)

REVENUE RECOGNITION - Cumulativ

REVENUE RECOGNITION - Cumulative information (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Jan. 01, 2018
Balance sheet
Other long-term assets	$ 503				$ 505.5				$ 503	$ 505.5		$ 487
Deferred revenues and income	449.2				414.8				449.2	414.8		391
Exhibitor services agreement	549.7				564				549.7	564		583.8
Accumulated deficit	(706.2)				(550.9)				(706.2)	(550.9)		$ (239.7)
Revenues
Revenue	1,447.7	$ 1,316.8	$ 1,506.1	$ 1,200.4	1,413.3	$ 1,221.4	$ 1,442.5	$ 1,383.6	5,471	5,460.8	$ 5,079.2
Operating costs and expenses
Operating expenses, excluding depreciation and amortization below									1,686.6	1,654.7	1,548
Non-cash NCM exhibitor services agreement									40.4	41.5
Net earnings (loss)	$ (13.5)	$ (54.8)	$ 49.4	$ (130.2)	170.6	$ (100.4)	$ 22.2	$ 17.7	(149.1)	110.1	(487.2)
Admissions
Revenues
Revenue									3,301.3	3,385	3,229.5
Food and beverage
Revenues
Revenue									1,719.6	1,671.5	1,548.4
Total other theatre
Revenues
Revenue									450.1	404.3	$ 301.3
Advertising
Revenues
Revenue									143	142.2
Other theatre
Revenues
Revenue									$ 307.1	262.1
Calculated under Revenue Guidance in Effect before Topic 606 [Member]
Balance sheet
Other long-term assets					475.9					475.9
Deferred revenues and income					401					401
Exhibitor services agreement					530.9					530.9
Accumulated deficit					(207.9)					(207.9)
Revenues
Revenue										5,415.1
Operating costs and expenses
Operating expenses, excluding depreciation and amortization below										1,636.7
Net earnings (loss)										123.9
Calculated under Revenue Guidance in Effect before Topic 606 [Member] | Admissions
Revenues
Revenue										3,386.4
Calculated under Revenue Guidance in Effect before Topic 606 [Member] | Food and beverage
Revenues
Revenue										1,671.9
Calculated under Revenue Guidance in Effect before Topic 606 [Member] | Total other theatre
Revenues
Revenue										356.8
Difference between Revenue Guidance in Effect before and after Topic 606 [Member]
Balance sheet
Other long-term assets					11.1					11.1
Deferred revenues and income					(10)					(10)
Exhibitor services agreement					52.9					52.9
Accumulated deficit					$ (31.8)					(31.8)
Revenues
Revenue										45.7
Operating costs and expenses
Operating expenses, excluding depreciation and amortization below										18
Non-cash NCM exhibitor services agreement										41.5
Net earnings (loss)										(13.8)
Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | Admissions
Revenues
Revenue										(1.4)
Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | Food and beverage
Revenues
Revenue										(0.4)
Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | Total other theatre
Revenues
Revenue										$ 47.5

REVENUE RECOGNITION - Disaggreg

REVENUE RECOGNITION - Disaggregation of revenue (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disaggregation of Revenue [Line Items]
Revenue	$ 1,447.7	$ 1,316.8	$ 1,506.1	$ 1,200.4	$ 1,413.3	$ 1,221.4	$ 1,442.5	$ 1,383.6	$ 5,471	$ 5,460.8	$ 5,079.2
Admissions
Disaggregation of Revenue [Line Items]
Revenue									3,301.3	3,385	3,229.5
Food and beverage
Disaggregation of Revenue [Line Items]
Revenue									1,719.6	1,671.5	1,548.4
Total other theatre
Disaggregation of Revenue [Line Items]
Revenue									450.1	404.3	$ 301.3
Advertising
Disaggregation of Revenue [Line Items]
Revenue									143	142.2
Other theatre
Disaggregation of Revenue [Line Items]
Revenue									307.1	262.1
Products and services transferred at point in time
Disaggregation of Revenue [Line Items]
Revenue									5,071	5,218.7
Products and services transferred over time
Disaggregation of Revenue [Line Items]
Revenue									$ 400	$ 242.1

REVENUE RECOGNITION - Receivabl

REVENUE RECOGNITION - Receivables and deferred revenue (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018	Jan. 01, 2018
Current assets
Receivables related to contracts with customers	$ 160.3	$ 183.2
Miscellaneous receivables	93.9	76.3
Receivables, net	254.2	259.5
Current liabilities
Deferred revenue related to contracts with customers	447.1	412.8
Miscellaneous deferred income	2.1	2
Deferred revenues and income	$ 449.2	$ 414.8	$ 391

REVENUE RECOGNITION - Changes i

REVENUE RECOGNITION - Changes in liabilities (Details) - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Deferred revenues related to contracts with customers
Beginning balance	$ 412.8
Customer loyalty awards accumulated, net of expirations	62.3	$ 101.6	$ 52.9
Foreign currency translation adjustment, net of tax	(16.5)	(127.7)	131.7
Ending balance	447.1	412.8
Exhibitor Services Agreement
Deferred revenues related to contracts with customers
Beginning balance	$ 564	530.9
Cumulative effect of initially applying ASC 606		$ 52.9
Common Unit Adjustment - surrender of common units	1.4	(5.2)
Reclassification revenue, as the result of performance obligations satisfied	$ (15.7)	$ (14.6)
Ending balance	$ 549.7	564	530.9
Term of amortization of the exhibitor services agreement (ESA) with NCM	30 years
Accounting Standards Update 2014-09 - Revenue from contracts
Deferred revenues related to contracts with customers
Beginning balance	$ 412.8	376.1
Cumulative effect of initially applying ASC 606		(10)
Cash received in advance	457.1	463.4
Customer loyalty awards accumulated, net of expirations		2.8
Foreign currency translation adjustment, net of tax	(3.4)	0.7
Ending balance	447.1	412.8	$ 376.1
Accounting Standards Update 2014-09 - Revenue from contracts | Admissions
Deferred revenues related to contracts with customers
Customer loyalty awards accumulated, net of expirations	29.4	30
Reclassification revenue, as the result of performance obligations satisfied	(307.8)	(329.9)
Accounting Standards Update 2014-09 - Revenue from contracts | Food and beverage
Deferred revenues related to contracts with customers
Customer loyalty awards accumulated, net of expirations	69.7	55.2
Reclassification revenue, as the result of performance obligations satisfied	(116.7)	(82.3)
Accounting Standards Update 2014-09 - Revenue from contracts | Total other theatre
Deferred revenues related to contracts with customers
Customer loyalty awards accumulated, net of expirations		8.9
Reclassification revenue, as the result of performance obligations satisfied	(95.6)	(97)
Austria theatres | Accounting Standards Update 2014-09 - Revenue from contracts
Deferred revenues related to contracts with customers
Disposition of Austria theatres	$ (1.2)
Nordic | Accounting Standards Update 2014-09 - Revenue from contracts
Deferred revenues related to contracts with customers
Business combination - Nordic purchase price allocation		$ (2.3)

REVENUE RECOGNITION - Additiona

REVENUE RECOGNITION - Additional disclosures (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Jan. 01, 2018
Customer Frequency Program
Deferred revenues and income	$ 449.2	$ 414.8	$ 391
Gift Card And Ticket Exchange
Customer Frequency Program
Redemption period	24 months
Deferred revenues and income	$ 354.3
Loyalty Program
Customer Frequency Program
Redemption period	24 months
Deferred revenues and income	$ 57.4
Exhibitor Services Agreement
Customer Frequency Program
Expected to be recognized as revenue	549.7
Exhibitor Services Agreement | Year Ended 2020
Customer Frequency Program
Expected to be recognized as revenue	16.9
Exhibitor Services Agreement | Year Ended 2021
Customer Frequency Program
Expected to be recognized as revenue	18.1
Exhibitor Services Agreement | Year Ended 2022
Customer Frequency Program
Expected to be recognized as revenue	19.5
Exhibitor Services Agreement | Year Ended 2023
Customer Frequency Program
Expected to be recognized as revenue	20.9
Exhibitor Services Agreement | Year Ended 2024
Customer Frequency Program
Expected to be recognized as revenue	22.5
Exhibitor Services Agreement | Years Ended 2025 through February 2037
Customer Frequency Program
Expected to be recognized as revenue	$ 451.8

LEASES - Lease assets and liabi

LEASES - Lease assets and liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
LEASES
Operating lease right-of-use assets, net	$ 4,796
Finance lease right-of-use assets	$ 73.4
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Property, Plant and Equipment, Net
Total leased assets	$ 4,869.4
Operating Lease, Liability, Current	585.8
Finance Lease, Liability, Current	10.3
Operating Lease, Liability, Noncurrent	4,913.8
Finance Lease, Liability, Noncurrent	89.6	$ 493.2
Total lease liabilities	$ 5,599.5

LEASES - Stockholders' equity (

LEASES - Stockholders' equity (Details) - USD ($) $ in Millions	Jan. 01, 2019	Dec. 31, 2018	Jan. 01, 2018
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance at the beginning of the period	$ 1,397.6
Cumulative effect of change made to accumulated deficit		$ (31.8)	$ 52.9
Accounting Standards Update 2016-02 [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance at the beginning of the period	(550.9)
Derecognition of existing assets for certain sale leaseback transactions previously recorded in property, net	(405.9)
Derecognition of existing liabilities for certain sale leaseback transactions previously recorded in current maturities of corporate borrowings and capital and financing lease obligations	427.5
Derecognition of deferred gains from the sale leaseback transactions previously recorded in other long-term liabilities	102.4
Difference in fair value compared to the basis of the right-of-use assets for theatres impaired under the new standard	(49)
Deferred taxes	1.2
Cumulative effect of change made to accumulated deficit	76.2
Balance at the end of the period	$ (474.7)

LEASES - Income statement (Deta

LEASES - Income statement (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Operating costs and expenses
Rent									$ 967.8	$ 797.8	$ 794.4
Depreciation and amortization									450	537.8	538.6
Operating costs and expenses									5,335	5,195.8	4,977.2
Operating income (loss)	$ 43.4	$ 20.8	$ 105.5	$ (33.7)	$ 87.3	$ (21.9)	$ 89.7	$ 109.9	136	265	102
Capital and financing lease obligations									7.6	38.5	42.4
Net earnings (loss)	$ (13.5)	$ (54.8)	$ 49.4	$ (130.2)	$ 170.6	$ (100.4)	$ 22.2	$ 17.7	(149.1)	110.1	$ (487.2)
U.S.
Sale and leaseback
Rent payments for failed sale leasebacks									44
Non-cash amortization expense for favorable lease terms									18.3
Amortization of deferred gains on sale leaseback transactions									7.2
International markets
Sale and leaseback
Rent payments for failed sale leasebacks									39.6
Non-cash amortization expense for favorable lease terms										$ 7.4
Originally
Operating costs and expenses
Rent									851.3
Depreciation and amortization									546
Operating costs and expenses									5,314.5
Operating income (loss)									156.5
Capital and financing lease obligations									35.2
Net earnings (loss)									(156.2)
As Adjusted | U.S.
Operating costs and expenses
Rent									69.5
Depreciation and amortization									(53.6)
Operating costs and expenses									15.9
Operating income (loss)									(15.9)
Capital and financing lease obligations									(13.2)
Net earnings (loss)									(2.7)
As Adjusted | International markets
Operating costs and expenses
Rent									47
Depreciation and amortization									(42.4)
Operating costs and expenses									4.6
Operating income (loss)									(4.6)
Capital and financing lease obligations									(14.4)
Net earnings (loss)									$ 9.8

LEASES - Lease costs (Details)

LEASES - Lease costs (Details) $ in Millions	12 Months Ended
	Dec. 31, 2019USD ($)
Operating Leased Assets [Line Items]
Amortization of finance lease assets	$ 9.2
Interest on lease liabilities	7.6
Total lease cost	1,069.9
Theatre Rent
Operating Leased Assets [Line Items]
Operating lease cost	876
Variable lease cost	91.8
Theatres
Operating Leased Assets [Line Items]
Operating lease cost	9.1
Equipment
Operating Leased Assets [Line Items]
Operating lease cost	14.4
Variable lease cost	56.3
Office And Other
Operating Leased Assets [Line Items]
Operating lease cost	$ 5.5

LEASES - Lease terms and discou

LEASES - Lease terms and discount rates (Details)	Dec. 31, 2019
LEASES
Operating leases, weighted average remaining lease term	10 years 2 months 12 days
Finance leases, weighted average remaining lease term	13 years
Operating leases, weighted average discount rate	7.20%
Finance leases, weighted average discount rate	6.50%

LEASES - Cash flow information

LEASES - Cash flow information (Details) $ in Millions	12 Months Ended
	Dec. 31, 2019USD ($)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows used in finance leases	$ (7.6)
Operating cash flows used in operating lease cost	(941.6)
Financing cash flows used in finance leases	(10.9)
Landlord contributions included in operating cashflows provided by operating leases	106.5
Supplemental disclosure of noncash leasing activities:
Right-of-use assets obtained in exchange for new operating lease liabilities	$ 463.2

LEASES - Minimum annual payment

LEASES - Minimum annual payments under leases (Details) $ in Millions	Dec. 31, 2019USD ($)
Operating Lease Payments
2020	$ 952.5
2021	899.1
2022	836.1
2023	743.6
2024	667.2
Thereafter	3,738.4
Total lease payments	7,836.9
Less imputed interest	(2,337.3)
Total	$ 5,499.6
Operating Lease, Liability, Statement of Financial Position [Extensible List]	Operating Lease, Right-of-Use Asset
Financing Lease Payments
2020	$ 16.4
2021	15.4
2022	14.9
2023	11.8
2024	10.6
Thereafter	80.5
Total lease payments	149.6
Less imputed interest	(49.7)
Total	$ 99.9

LEASES - Future lease agreement

LEASES - Future lease agreements (Details) $ in Millions	12 Months Ended
	Dec. 31, 2019USD ($)item
Signed lease agreements | $	$ 226.8
Number of Theatres	4
Future Lease Commitments
Number of Theatres	11
Minimum
Lessee, Operating Lease, Term of Contract	12 years
Minimum | Future Lease Commitments
Lessee, Operating Lease, Term of Contract	5 years
Maximum
Lessee, Operating Lease, Term of Contract	15 years
Maximum | Future Lease Commitments
Lessee, Operating Lease, Term of Contract	25 years

LEASES - Prior year minimum ann

LEASES - Prior year minimum annual payments under leases (Details) $ in Millions	12 Months Ended
	Dec. 31, 2018USD ($)
LEASES
Lease incentive	$ 35
Reduction Of Rent Expense	$ 35

PROPERTY (Details)

PROPERTY (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
PROPERTY
Property owned, gross	$ 4,388.3	$ 4,608.9
Less: accumulated depreciation	1,812.5	1,668.3
Property owned, net	2,575.8	2,940.6
Property leased under capital leases, gross	81	127.8
Less: accumulated depreciation and amortization	7.6	28.8
Property leased under capital leases, net	73.4	99
Property including property leased under capital leases, net	2,649.2	3,039.6
Depreciation expense	413.6	498.2	$ 495.2
Land
PROPERTY
Property owned, gross	106.3	104.6
Buildings and improvements
PROPERTY
Property owned, gross	$ 230.4	878.2
Buildings and improvements | Minimum
PROPERTY
Estimated useful lives	5 years
Buildings and improvements | Maximum
PROPERTY
Estimated useful lives	45 years
Leasehold improvements
PROPERTY
Property owned, gross	$ 1,834.8	1,560.7
Leasehold improvements | Minimum
PROPERTY
Estimated useful lives	1 year
Leasehold improvements | Maximum
PROPERTY
Estimated useful lives	20 years
Furniture, fixtures and equipment
PROPERTY
Property owned, gross	$ 2,216.8	$ 2,065.4
Furniture, fixtures and equipment | Minimum
PROPERTY
Estimated useful lives	1 year
Furniture, fixtures and equipment | Maximum
PROPERTY
Estimated useful lives	11 years

GOODWILL (Details)

GOODWILL (Details) $ in Millions	Sep. 14, 2018USD ($)shares	Dec. 31, 2019USD ($)item	Dec. 31, 2018USD ($)item	Sep. 30, 2019
Goodwill [Roll Forward]
Balance at the beginning of the period		$ 4,788.7	$ 4,931.7
Adjustments			(6.4)
Currency translation adjustment		0.4	(136.6)
Balance at the end of the period		$ 4,789.1	$ 4,788.7
Principal balance	$ 600
Number of reporting units | item		2	3
U.S.
Goodwill [Roll Forward]
Balance at the beginning of the period		$ 3,072.6	$ 3,072.6
Balance at the end of the period		3,072.6	3,072.6
Percentage the reporting unit's carrying value exceeds its fairvalue				9.90%
International markets
Goodwill [Roll Forward]
Balance at the beginning of the period		1,716.1	1,859.1
Adjustments			(6.4)
Currency translation adjustment		0.4	(136.6)
Balance at the end of the period		1,716.5	1,716.1
Percentage the reporting unit's carrying value exceeds its fairvalue				11.80%
2.95% Senior Unsecured Convertible Notes due 2024
Goodwill [Roll Forward]
Principal balance	$ 600	$ 600	$ 600
2.95% Senior Unsecured Convertible Notes due 2024 | Class B common stock
Goodwill [Roll Forward]
Common stock repurchased and cancellation (in shares) | shares	24,057,143

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS - Additional information of intangible assets acquired (Details) - USD ($) $ in Millions	Mar. 28, 2017	Dec. 31, 2019	Dec. 31, 2018
Amortizable Intangible Assets:
Gross Carrying Amount		$ 52.5	$ 258.5
Accumulated Amortization		(22.8)	(72.9)
Unamortized Intangible Assets:
Total, unamortizable		165.6	166.5
Favorable leases
Amortizable Intangible Assets:
Gross Carrying Amount			206
Accumulated Amortization			(55.4)
Management contracts
Amortizable Intangible Assets:
Gross Carrying Amount		11.8	11.8
Accumulated Amortization		$ (7.9)	(6.2)
Management contracts | Minimum
Amortizable Intangible Assets:
Remaining Useful Life		1 year
Management contracts | Maximum
Amortizable Intangible Assets:
Remaining Useful Life		7 years
Non-compete agreements
Amortizable Intangible Assets:
Gross Carrying Amount		$ 2.6	2.6
Accumulated Amortization		$ (2.1)	(1.5)
NCM tax receivable agreement
Amortizable Intangible Assets:
Remaining Useful Life		17 years
Gross Carrying Amount		$ 20.9	20.9
Accumulated Amortization		(6.2)	(5.3)
AMCE
Unamortized Intangible Assets:
Trade names		$ 104.4	104.4
Carmike
Amortizable Intangible Assets:
Remaining Useful Life		4 years
Gross Carrying Amount		$ 9.3	9.3
Accumulated Amortization		(4)	(2.7)
Odeon
Unamortized Intangible Assets:
Trade names		50.7	51.4
Nordic
Amortizable Intangible Assets:
Remaining Useful Life	5 years 6 months
Gross Carrying Amount	$ 11.6
Unamortized Intangible Assets:
Trade names	$ 10.5	$ 10.5	10.7
Nordic | Favorable leases
Amortizable Intangible Assets:
Remaining Useful Life	7 years
Gross Carrying Amount	$ 3.5
Nordic | Trade name agreement
Amortizable Intangible Assets:
Remaining Useful Life	4 years
Gross Carrying Amount	$ 0.4
Starplex Cinemas
Amortizable Intangible Assets:
Remaining Useful Life		7 years
Gross Carrying Amount		$ 7.9	7.9
Accumulated Amortization		$ (2.6)	$ (1.8)
Starplex Cinemas | Non-compete agreements
Amortizable Intangible Assets:
Remaining Useful Life		2 years

GOODWILL AND INTANGIBLE ASSET_2

GOODWILL AND INTANGIBLE ASSETS - Amortization (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Amortization expense associated with the intangible assets
Recorded amortization	$ 5.1	$ 19.2	$ 20
Projected annual amortization
2020	5
2021	4.5
2022	3.5
2023	3.1
2024	$ 1.7

INVESTMENTS (Details)

INVESTMENTS (Details)

Mar. 14, 2019$ / sharesshares

Jul. 02, 2018USD ($)

Jun. 18, 2018USD ($)agreement$ / sharesshares

Dec. 29, 2017USD ($)

Jun. 30, 2017USD ($)$ / shares

Dec. 26, 2013USD ($)item

Mar. 31, 2019shares

Mar. 31, 2018shares

Dec. 31, 2019USD ($)item

Dec. 31, 2018USD ($)$ / shares

Dec. 31, 2017USD ($)shares

Mar. 15, 2018$ / shares

Investments

Number of theatres | item

4

Equity Method Investments Ownership Transactions [Abstract]

Number of shares issued | shares

616,800,000

Investment expense (income)

$ 3,500,000

$ 204,500,000

$ 3,600,000

Price per share (in dollars per share) | $ / shares

$ 7.42

$ 6.86

Distribution and merger consideration received

$ 45,800,000

Recorded equity in earnings

30,600,000

$ 86,700,000

$ (185,200,000)

Amortizable intangible asset

$ 52,500,000

$ 258,500,000

Europe

Investments

Ownership percentage

50.00%

Number of theatres | item

55

5.0% Promissory Note payable to NCM due 2019

Equity Method Investments Ownership Transactions [Abstract]

Stated interest rate (as a percent)

5.00%

5.00%

U.S. theatres and IMAX screen

Investments

Amounts due to affiliate

$ 1,000,000

$ 900,000

Open Road Releasing, LLC, operator of ORF

Investments

Ownership percentage

50.00%

Equity Method Investments Ownership Transactions [Abstract]

Gain (loss) on sale

$ 17,200,000

Loss NCM charged to merger, acquisition and transaction costs

17,200,000

NCM

Investments

Ownership percentage

4.50%

4.00%

Common units returned under Common Unit Adjustment Agreement | shares

197,118

915,150

Value of common units returned under Unit Adjustment agreement | shares

1,400,000

Surrender of common units for make whole agreement

23,100,000

Equity Method Investments Ownership Transactions [Abstract]

Gain on divestment of equity method investment

30,600,000

(22,600,000)

Gain (loss) on sale

28,900,000

(22,200,000)

Investment expense (income)

16,000,000

208,000,000

Price per share (in dollars per share) | $ / shares

$ 7.24

$ 7.30

$ 5.64

Number of unit purchase agreements | agreement

2

Number of investment units sold | shares

10,738,740

Aggregate consideration

$ 156,800,000

Recorded equity in earnings

28,900,000

Loss NCM charged to merger, acquisition and transaction costs

28,900,000

(22,200,000)

All Investees Except Those Specifically Excluded [Member]

Investments

Excess of recorded investment over proportional ownership of underlying equity

$ (36,600,000)

DCM

Investments

Ownership percentage

50.00%

SV Holdco

Investments

Ownership percentage

18.20%

SV Holdco | Class C Units

Investments

Ownership percentage

18.20%

AC JV, LLC

Investments

Ownership percentage

32.00%

AC JV, LLC | Founding Members

Investments

Ownership percentage

32.00%

Consideration received for spin-off

$ 25,000,000

AC JV, LLC | Founding Members | 5.0% Promissory Note payable to NCM due 2019

Investments

Consideration received for spin-off from each founder member

$ 8,300,000

Number of equal installments of interest and principal payments due | item

6

Equity Method Investments Ownership Transactions [Abstract]

Stated interest rate (as a percent)

5.00%

DCIP

Investments

Ownership percentage

29.00%

Equity Method Investments Ownership Transactions [Abstract]

Recorded equity in earnings

$ 25,400,000

29,100,000

28,600,000

SSC

Investments

Ownership percentage

10.00%

Other

Equity Method Investments Ownership Transactions [Abstract]

Recorded equity in earnings

$ 5,200,000

$ 39,700,000

$ 2,500,000

U.S. theatres and IMAX screen

Investments

Ownership percentage

50.00%

Number of theatres | item

4

DCDC

Investments

Ownership percentage

14.60%

Screenvision

Investments

Ownership percentage

18.20%

Equity Method Investments Ownership Transactions [Abstract]

Gain (loss) on sale

$ 30,100,000

Carrying value of screenvision investment

0

Recorded equity in earnings

30,100,000

Loss NCM charged to merger, acquisition and transaction costs

$ 30,100,000

Minimum | NCM

Equity Method Investments Ownership Transactions [Abstract]

Percentage change in the total annual attendance of all the founding members required to cause an earlier common unit adjustment

2.00%

Maximum

Investments

Ownership percentage

50.00%

INVESTMENTS - Sum. Finan. Info

INVESTMENTS - Sum. Finan. Info and Earnings (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Investments
Revenues		$ 902.8	$ 1,185.4
Operating costs and expenses		743	959.4
Net earnings (loss)		159.8	226
Recorded equity in earnings	$ 30.6	86.7	(185.2)
Financial Condition:
Current assets	339.3	228.3
Noncurrent assets	843.3	885.3
Total assets	1,182.6	1,113.6
Current liabilities	222.4	160.1
Noncurrent liabilities	260.5	339.8
Total liabilities	482.9	499.9
Stockholders' equity (deficit)	699.7	613.8
Liabilities and stockholders' equity (deficit)	1,182.6	1,113.6
The company's recorded investment	239.1	232.4
NCM
Investments
Revenues	172.2	193.9	426.1
Operating costs and expenses	94.3	171.9	324.2
Net earnings (loss)	77.9	22	101.9
Recorded equity in earnings	28.9
Financial Condition:
The company's recorded investment			161.1	$ 323.9
NCM, Inc and NCM, LLC
Investments
Recorded equity in earnings		17.9	(216.3)
DCIP
Investments
Revenues	522.3	176.7	177.4
Operating costs and expenses	489.4	81.9	84.3
Net earnings (loss)	32.9	94.8	93.1
Recorded equity in earnings	25.4	29.1	28.6
Financial Condition:
Current assets	51.4	57.9
Noncurrent assets	568	684.3
Total assets	619.4	742.2
Current liabilities	64.6	60.7
Noncurrent liabilities	10.4	132.1
Total liabilities	75	192.8
Stockholders' equity (deficit)	544.4	549.5
Liabilities and stockholders' equity (deficit)	619.4	742.2
The company's recorded investment	151	152.5
Screenvision
Investments
Recorded equity in earnings	30.1
Other
Investments
Revenues	694.5	532.2	581.9
Operating costs and expenses	583.7	489.2	550.9
Net earnings (loss)	110.8	43	31
Recorded equity in earnings	5.2	39.7	$ 2.5
Financial Condition:
Current assets	287.9	170.4
Noncurrent assets	275.3	201
Total assets	563.2	371.4
Current liabilities	157.8	99.4
Noncurrent liabilities	250.1	207.7
Total liabilities	407.9	307.1
Stockholders' equity (deficit)	155.3	64.3
Liabilities and stockholders' equity (deficit)	563.2	371.4
The company's recorded investment	$ 88.1	$ 79.9

INVESTMENTS - Related Party Tra

INVESTMENTS - Related Party Transactions (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Related Party Transactions
Deferred rent liability for digital projectors		$ 518.5
Advertising expense	$ 42.6	45.4	$ 39.9
DCM
Related Party Transactions
Amounts due from affiliate	4.2	2.8
Loan receivable from affiliate	0.7	0.6
Related party revenues	22.4	20.1	23.3
DCIP
Related Party Transactions
Amounts due from affiliate	3.5	3.4
Amounts due to affiliate		(7.8)
Related party expenses	$ 3.6	6.5	5.7
Equipment rental term	12 years
Open Road Releasing, LLC, operator of ORF
Related Party Transactions
Redemption or sale of units	$ 14
Amounts due from affiliate	4.8
Additional loss		(8)
Total proceeds	28.8
AC JV, LLC
Related Party Transactions
Amounts due to affiliate	(0.8)	(2.5)
Related party expenses	13.6	12.9	12.5
Screenvision
Related Party Transactions
Amounts due from affiliate	3.4	2.7
Related party expenses	15.6	15.1	$ 14
Nordic
Related Party Transactions
Amounts due from affiliate	2.5	2.6
Amounts due to affiliate	(1.6)	(1.7)
SSC
Related Party Transactions
Amounts due from affiliate	8.3
U.S. theatres and IMAX screen
Related Party Transactions
Amounts due to affiliate	$ (1)	$ (0.9)

INVESTMENTS - Rollforwards (Det

INVESTMENTS - Rollforwards (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Mar. 14, 2019	Jun. 18, 2018	Mar. 15, 2018	Jun. 30, 2017
Changes in carrying amount of investment in NCM and equity in losses of NCM
Balance at the beginning of the period	$ 232.4
Balance at the end of the period	239.1	$ 232.4
Common Membership Units rollforward
Price per share (in dollars per share)		$ 6.86					$ 7.42
Total impairment loss	$ 87.9	$ 13.8	$ 43.6
Number of shares issued			616.8
Exhibitor Services Agreement
Common Membership Units rollforward
Term of amortization of the exhibitor services agreement (ESA) with NCM	30 years
NCM
Changes in carrying amount of investment in NCM and equity in losses of NCM
Balance at the beginning of the period		161.1	$ 323.9
Surrender of common units for transferred theatres	$ (6.3)	(6.3)	(36.4)
Receipt of excess cash distributions		(15.3)	(28.6)
Other-than-temporary impairment loss - held for sale		(14.4)	(206.3)
Equity in earnings		3.2	15.3
Receipt of common units			235.2
Surrender of common units for make whole agreement			(23.1)
Equity in loss from amortization of basis difference			(2.4)
Sale of common units		(128.3)
Balance at the end of the period			$ 161.1
Common Membership Units rollforward
Units exchanged for NCM, Inc. shares			(116.5)
Surrender of common units for transferred theatres	(6.3)	(6.3)	$ (36.4)
Price per share (in dollars per share)				$ 7.24	$ 7.30	$ 5.64
Gain (loss) on sale		28.9	(22.2)
NCM | Exhibitor Services Agreement
Changes in carrying amount of investment in NCM and equity in losses of NCM
Balance at the beginning of the period	(564)	(530.9)	(359.2)
ASC 606 revenue recognition change in amortization method		(52.9)
Surrender of common units for transferred theatres	5.2	5.2	35.7
Amortization of ESA	15.7	14.6	27.8
Receipt of common units	(1.4)		(235.2)
Balance at the end of the period	(549.7)	(564)	(530.9)
Common Membership Units rollforward
Surrender of common units for transferred theatres	$ 5.2	5.2	35.7
Term of amortization of the exhibitor services agreement (ESA) with NCM	30 years
NCM | Other Comprehensive (Income)
Changes in carrying amount of investment in NCM and equity in losses of NCM
Balance at the beginning of the period		(2.5)	(4)
Equity in earnings		0.1	1.5
Sale of common units		2.4
Balance at the end of the period			(2.5)
NCM | Cash Received (Paid)
Changes in carrying amount of investment in NCM and equity in losses of NCM
Balance at the beginning of the period	$ 170.7	28.6
Receipt of excess cash distributions		15.3	28.6
Sale of common units		156.8
Expenses on sale of shares		(1.4)
Balance at the end of the period		170.7	28.6
NCM | Equity in (Earnings)/Loss
Changes in carrying amount of investment in NCM and equity in losses of NCM
Balance at the beginning of the period	(17.3)	193.1
Surrender of common units for transferred theatres	1.1	1.1	0.7
Other-than-temporary impairment loss - held for sale		14.4	206.3
Equity in earnings		(3.3)	(16.8)
Surrender of common units for make whole agreement			0.5
Equity in loss from amortization of basis difference			2.4
Sale of common units		(30.9)
Expenses on sale of shares		1.4
Balance at the end of the period		(17.3)	193.1
Common Membership Units rollforward
Surrender of common units for transferred theatres	1.1	1.1	0.7
NCM | G&A: Mergers and Acquisitions Expense
Changes in carrying amount of investment in NCM and equity in losses of NCM
Balance at the beginning of the period		22.6
Surrender of common units for make whole agreement			22.6
Balance at the end of the period			22.6
NCM | Advertising (Revenue)
Changes in carrying amount of investment in NCM and equity in losses of NCM
Balance at the beginning of the period	(14.6)	(27.8)
Amortization of ESA	(15.7)	(14.6)	(27.8)
Balance at the end of the period	$ (15.7)	$ (14.6)	$ (27.8)

SUPPLEMENTAL BALANCE SHEET IN_3

SUPPLEMENTAL BALANCE SHEET INFORMATION (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018	Jan. 01, 2018	Dec. 31, 2017	Dec. 31, 2016
Other current assets:
Income taxes receivable	$ 11.7	$ 24.7
Prepaids	63.4	99.8
Merchandise inventory	37.5	35.2
Other	30.8	38.1
Other current assets, total	143.4	197.8
Other long-term assets:
Investments in real estate	16.8	16.2
Deferred financing costs	11.3	6.7
Investments in equity method investees	239.1	232.4
Computer software	115.8	104.3
Investment in common stock	28	30.9
Pension asset	19.6	25.7
Derivative asset	38	55.7
Other	34.4	33.6
Other long-term assets, total	503	505.5	$ 487
Accrued expenses and other liabilities:
Taxes other than income	75.2	73.4
Interest	21.2	32.6
Payroll and vacation	43.8	39.6
Current portion of casualty claims and premiums	12.6	11.2
Accrued bonus	32.5	39.6
Theatre and other closure		5.6
Accrued licensing and percentage rent	24.7	18.9
Current portion of pension	0.5	0.3
Other	114.1	157.3
Accrued expenses and other liabilities, total	324.6	378.5
Other long-term liabilities:
Unfavorable lease obligations		176.6
Deferred rent		518.5
Pension	59.9	54.6
Deferred gain		102.4
Casualty claims and premiums	17.9	15.2
Theatre and other closure		12.5
Other	118.1	83.3
Other long-term liabilities, total	195.9	963.1
NCM
Other long-term assets:
Investments in equity method investees				$ 161.1	$ 323.9
AMCE
Other long-term assets:
Other long-term assets, total	47.4	59.8
Accrued expenses and other liabilities:
Accrued expenses and other liabilities, total	$ 18.6	$ 31.5

CORPORATE BORROWINGS (Details)

CORPORATE BORROWINGS (Details) - USD ($) $ in Millions	Dec. 31, 2019	Apr. 22, 2019	Dec. 31, 2018	Sep. 14, 2018	Dec. 31, 2017	Mar. 17, 2017	Nov. 08, 2016	Jun. 05, 2015
CORPORATE BORROWINGS
Corporate borowings	$ 4,910.8		$ 4,867.7
Finance lease obligations	99.9
Debt issuance costs	88.8		104.3
Net discouints	(69.1)		(64.4)
Derivative liability	0.5		24
Corporate borrowings and capital and financing lease obligations	4,853.3		5,283.2
Current maturities corporate borrowings	(20)		(15.2)
Current maturities of finance lease liabilities	(10.3)
Current maturities capital and financing lease obligations	(20)		(67)
Corporate borrowings and capital and financing lease obligations, non-current	4,823		5,201
Senior Secured Credit Facility Term-Loan due 2022
CORPORATE BORROWINGS
Corporate borowings			854.2
Senior Secured Credit Facility Term Loan due 2023
CORPORATE BORROWINGS
Corporate borowings			491.2
Senior Secured Credit Facility Term-Loan Due 2026
CORPORATE BORROWINGS
Corporate borowings	$ 1,985
Stated interest rate (as a percent)	5.23%
Odeon Revolving Credit Facility
CORPORATE BORROWINGS
Corporate borowings			11.9
6.0% Senior Secured Notes due 2023
CORPORATE BORROWINGS
Corporate borowings			$ 230
Stated interest rate (as a percent)	6.00%	6.00%	6.00%
2.95% Senior Unsecured Convertible Notes due 2024
CORPORATE BORROWINGS
Corporate borowings	$ 600		$ 600
Debt issuance costs	11.2		13	$ 12.5
Net discouints	(73.7)		(86.7)	(90.4)
Derivative liability	$ 0.5		$ 24	$ 90.4
Stated interest rate (as a percent)	2.95%		2.95%	2.95%
5.875% Senior Subordinated Notes due 2022
CORPORATE BORROWINGS
Corporate borowings			$ 375
Stated interest rate (as a percent)			5.875%		5.875%
6.375% Senior Subordinated Notes due 2024
CORPORATE BORROWINGS
Corporate borowings	$ 655.8		$ 634.1
Debt issuance costs						$ 12.7
Stated interest rate (as a percent)	6.375%		6.375%		6.375%	6.375%	6.375%
5.75 % Senior Subordinated Notes due 2025
CORPORATE BORROWINGS
Corporate borrowings and capital and financing lease obligations	$ 600		$ 600
Stated interest rate (as a percent)	5.75%		5.75%					5.75%
5.875% Senior Subordinated Notes due 2026
CORPORATE BORROWINGS
Corporate borowings	$ 595		$ 595
Stated interest rate (as a percent)	5.875%		5.875%				5.875%
6.125% Senior Subordinated Notes due 2027
CORPORATE BORROWINGS
Corporate borowings	$ 475		$ 475
Debt issuance costs						$ 19.8
Stated interest rate (as a percent)	6.125%		6.125%			6.125%
5.0% Promissory Note payable to NCM due 2019
CORPORATE BORROWINGS
Corporate borowings			$ 1.3
Stated interest rate (as a percent)	5.00%		5.00%
Finance lease obligations
CORPORATE BORROWINGS
Finance lease obligations	$ 99.9		$ 560.2

CORPORATE BORROWINGS AND CAPITA

CORPORATE BORROWINGS AND CAPITAL AND FINANCING LEASE OBLIGATIONS - Maturities of corporate borrowings (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Principal Amount of Corporate Borrowings
2020	$ 20
2021	20
2022	20
2023	20
2024	1,275.8
Thereafter	3,555
Total	$ 4,910.8	$ 4,867.7

CORPORATE BORROWINGS AND CAPI_2

CORPORATE BORROWINGS AND CAPITAL AND FINANCING LEASE OBLIGATIONS - Senior Secured Credit Facility (Details) € in Millions, £ in Millions, $ in Millions	Apr. 22, 2019USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2019GBP (£)	Dec. 31, 2019USD ($)	Dec. 31, 2019EUR (€)	Dec. 07, 2017USD ($)	Dec. 07, 2017EUR (€)
Corporate borrowings and capital and financing lease obligations
Payment of debt		$ 21.9	$ 13.8	$ 12.6
Loss on repayment of indebtedness		16.6		0.4
Deferred financing costs			104.3			$ 88.8
Other Nonoperating Income (Expense)		(13.4)	$ 108.1	$ 1.5
Letter of Credit
Corporate borrowings and capital and financing lease obligations
Outstanding borrowings		10
Senior secured revolving credit facility maturing April 22, 2024
Corporate borrowings and capital and financing lease obligations
Stated interest rate (as a percent)	5.875%
Payment of debt	$ 1,338.5
Loss on repayment of indebtedness	16.6
Loss on repayment of indebtedness	14.1
Third party costs related to modification	$ 2.5
Senior secured revolving credit facility maturing April 22, 2024 | LIBOR
Corporate borrowings and capital and financing lease obligations
Spread on variable rate basis (as a percent)	1.00%
Stated interest rate (as a percent)	2.50%
Spread (as a percent)	1.00%
Senior secured revolving credit facility maturing April 22, 2024 | Federal Funds Effective Rate
Corporate borrowings and capital and financing lease obligations
Spread on variable rate basis (as a percent)	0.50%
Spread (as a percent)	0.50%
Senior secured revolving credit facility maturing April 22, 2024 | Letter of Credit
Corporate borrowings and capital and financing lease obligations
Aggregate principal amount	$ 225
Senior Secured Credit Facility Term Loans Due 2022 And 2023
Corporate borrowings and capital and financing lease obligations
Payment of debt		1,338.5
Senior secured tranche B loan maturing April 22, 2026
Corporate borrowings and capital and financing lease obligations
Aggregate principal amount	$ 2,000
Threshold percentage of equity interests pledged	100.00%
Threshold minimum percentage of voting stock	65.00%
Threshold percentage of annual excess cash flow	50.00%
Threshold percentage of annual excess cash flow if net leverage ratio is attained	0.00%
Threshold percentage of net cash proceeds of non-ordinary course asset sales	100.00%
Threshold percentage of net proceeds of issuance or incurrance of debt	100.00%
Premium on repayment (as a percent)	0.01%
5.875% Senior Subordinated Notes due 2022
Corporate borrowings and capital and financing lease obligations
Stated interest rate (as a percent)			5.875%	5.875%
Odeon Revolving Credit Facility
Corporate borrowings and capital and financing lease obligations
Aggregate principal amount								$ 131.2	€ 100
Outstanding borrowings		$ 0
Undrawn commitment fee		0.50%
Odeon Revolving Credit Facility | LIBOR
Corporate borrowings and capital and financing lease obligations
Spread on variable rate basis (as a percent)		2.50%
Spread (as a percent)		2.50%
Odeon Revolving Credit Facility | Letter of Credit
Corporate borrowings and capital and financing lease obligations
Available borrowing capacity						14.2	€ 89.2
Remaining borrowing capacity					£ 10.8	$ 117
Senior Secured Credit Facility Term Loans | LIBOR
Corporate borrowings and capital and financing lease obligations
Stated interest rate (as a percent)	3.00%
Senior Secured Credit Facility Term Loans | Federal Funds Effective Rate
Corporate borrowings and capital and financing lease obligations
Spread on variable rate basis (as a percent)	0.50%
Spread (as a percent)	0.50%

CORPORATE BORROWINGS - Senior U

CORPORATE BORROWINGS - Senior Unsecured Convertible Notes (Details)	Oct. 24, 2019USD ($)$ / shares	Aug. 02, 2019USD ($)$ / shares	May 03, 2019USD ($)$ / shares	Feb. 15, 2019USD ($)$ / shares	Nov. 01, 2018USD ($)$ / shares	Sep. 25, 2018USD ($)$ / shares	Sep. 14, 2018USD ($)item$ / sharesshares	Dec. 19, 2016USD ($)$ / shares	Sep. 19, 2016USD ($)$ / shares	Mar. 21, 2016USD ($)$ / shares	Jun. 20, 2016USD ($)$ / shares	Dec. 31, 2018USD ($)$ / shares	Dec. 31, 2019USD ($)$ / shares	Dec. 31, 2018USD ($)$ / shares	Dec. 31, 2017USD ($)	Jul. 14, 2018USD ($)	Jun. 30, 2017$ / shares
CORPORATE BORROWINGS
Principal balance							$ 600,000,000
Discount												$ (64,400,000)	$ (69,100,000)	$ (64,400,000)
Deferred charges												(104,300,000)	(88,800,000)	(104,300,000)
Derivative liability												$ 24,000,000	500,000	$ 24,000,000
Price per share (in dollars per share) | $ / shares												$ 6.86		$ 6.86			$ 7.42
Value of stock repurchased and canceled														$ 412,600,000
Special dividend (in dollars per share) | $ / shares	$ 0.20	$ 0.20	$ 0.20	$ 0.20	$ 0.20			$ 1.55	$ 0.20	$ 0.20	$ 0.20
Special dividend value	$ 21,000,000	$ 21,300,000	$ 21,300,000	$ 21,300,000	$ 21,200,000		1.55	$ 162,900,000	$ 25,800,000	$ 26,000,000	$ 26,000,000
Interest expense													292,800,000	262,300,000	$ 231,600,000
Other income (expense) related to derivative assets and liabilities													(13,400,000)	108,100,000	$ 1,500,000
2.95% Senior Unsecured Convertible Notes due 2024
CORPORATE BORROWINGS
Principal balance							600,000,000					$ 600,000,000	600,000,000	600,000,000
Discount							(90,400,000)					(86,700,000)	(73,700,000)	(86,700,000)
Deferred charges							(12,500,000)					(13,000,000)	(11,200,000)	(13,000,000)
Derivative asset							10,700,000
Derivative liability							90,400,000					24,000,000	500,000	24,000,000
Carrying value							$ 587,500,000					$ 524,300,000	$ 515,600,000	$ 524,300,000
Stated interest rate (as a percent)							2.95%					2.95%	2.95%	2.95%
Price per share (in dollars per share) | $ / shares													$ 7.24
Effective interest rate							5.98%
Deferred financing costs							$ 13,600,000
Interest expense							$ 32,600,000					$ 9,700,000	$ 32,600,000
Other income													23,500,000	$ 66,400,000
Other income (expense) related to derivative assets and liabilities													17,700,000	45,000,000
Change fair value of derivative													(23,500,000)	(66,400,000)
If-converted value in excess of principal													370,800,000
Minimum conversion price percentage causing a reset conversion price							120.00%
Number of days needed to cause a reset conversion price | item							10
Maximum allowed percentage of outstanding fully-diluted share capital resulting a conversion price floor							30.00%
Maximum dividends allowed through the second anniversary of issuance | $ / shares							$ 0.20
Maximum dividends allowed after the second anniversary of issuance | $ / shares							$ 0.10
Threshold percentage of stock price trigger							150.00%
Debt Instrument, Convertible, Threshold Trading Days | item							20
Debt Instrument, Convertible, Threshold Consecutive Trading Days | item							30
Internal rate of return							15.00%
2.95% Senior Unsecured Convertible Notes due 2024 | Additional Deferred Charges
CORPORATE BORROWINGS
Deferred charges												(1,100,000)		(1,100,000)
Carrying value												(1,100,000)		(1,100,000)
2.95% Senior Unsecured Convertible Notes due 2024 | (Increase) decrease to Net Earnings (Loss)
CORPORATE BORROWINGS
Discount												3,700,000	13,000,000	3,700,000
Deferred charges												600,000	1,800,000	600,000
Derivative liability												(66,400,000)	(23,500,000)	(66,400,000)
Carrying value												$ (62,100,000)	$ (8,700,000)	$ (62,100,000)
2.95% Senior Unsecured Convertible Notes due 2024 | Class A and B common stock
CORPORATE BORROWINGS
Legal fees						$ 2,600,000
Special dividend (in dollars per share) | $ / shares						$ 1.55
Special dividend value						$ 160,500,000
2.95% Senior Unsecured Convertible Notes due 2024 | Class A common stock
CORPORATE BORROWINGS
Principal balance																$ 1,000
Conversion rate							52.7704
Conversion rate (in dollars per share) | $ / shares							$ 18.95						$ 18.95
Number of shares upon conversion													31,662,269
2.95% Senior Unsecured Convertible Notes due 2024 | Class B common stock
CORPORATE BORROWINGS
Common stock repurchased and cancellation (in shares) | shares							24,057,143
Price per share (in dollars per share) | $ / shares							$ 17.50
Value of stock repurchased and canceled							$ 421,000,000
Legal fees							$ 2,600,000
Number of shares upon conversion | item							5,666,000

CORPORATE BORROWINGS - Other No

CORPORATE BORROWINGS - Other Notes (Details) £ in Millions, $ in Millions	Mar. 17, 2017GBP (£)	Nov. 08, 2016GBP (£)	Jun. 05, 2015USD ($)	Dec. 31, 2019GBP (£)	Apr. 22, 2019USD ($)	Dec. 31, 2018GBP (£)	Dec. 31, 2017	Mar. 17, 2017USD ($)	Nov. 08, 2016USD ($)
6.375% Senior Subordinated Notes due 2024
Corporate borrowings and capital and financing lease obligations
Deferred financing costs									$ 14.1
Stated interest rate (as a percent)	6.375%	6.375%		6.375%		6.375%	6.375%	6.375%	6.375%
Debt instrument redemption amount as a percentage of principal amount	35.00%
Number of days to file				270 days
Number of days for effectiveness				365 days
Debt instrument face amount | £	£ 250	£ 250		£ 500		£ 500
Percentage of principal amount of the outstanding Original Notes validly tendered under exchange offer	106.00%
Outstanding aggregate principal balance | £	£ 250
6.375% Senior Subordinated Notes due 2024 | Minimum
Corporate borrowings and capital and financing lease obligations
Debt instrument redemption amount as a percentage of principal amount	100.00%
6.375% Senior Subordinated Notes due 2024 | Maximum
Corporate borrowings and capital and financing lease obligations
Debt instrument redemption amount as a percentage of principal amount	104.781%
6.375% Senior Subordinated Notes due 2024 | Initial Redemption Period
Corporate borrowings and capital and financing lease obligations
Redemption price of debt instrument (as a percent)				104.781%
6.375% Senior Subordinated Notes due 2024 | Terminal Redemption Period
Corporate borrowings and capital and financing lease obligations
Redemption price of debt instrument (as a percent)				100.00%
5.75 % Senior Subordinated Notes due 2025
Corporate borrowings and capital and financing lease obligations
Deferred financing costs			$ 11.4
Stated interest rate (as a percent)			5.75%	5.75%		5.75%
Debt instrument face amount			$ 600
Stay of enforcement period			210 days
5.75 % Senior Subordinated Notes due 2025 | Initial Redemption Period
Corporate borrowings and capital and financing lease obligations
Redemption price of debt instrument (as a percent)				102.875%
5.75 % Senior Subordinated Notes due 2025 | Terminal Redemption Period
Corporate borrowings and capital and financing lease obligations
Redemption price of debt instrument (as a percent)				100.00%
5.875% Senior Subordinated Notes due 2026
Corporate borrowings and capital and financing lease obligations
Aggregate principal amount					$ 2,225
Deferred financing costs									$ 27
Stated interest rate (as a percent)		5.875%		5.875%		5.875%			5.875%
Number of days to file		270 days
Number of days for effectiveness		365 days
Debt instrument face amount									$ 595
5.875% Senior Subordinated Notes due 2026 | Initial Redemption Period
Corporate borrowings and capital and financing lease obligations
Redemption price of debt instrument (as a percent)				102.938%
5.875% Senior Subordinated Notes due 2026 | Terminal Redemption Period
Corporate borrowings and capital and financing lease obligations
Redemption price of debt instrument (as a percent)				100.00%
6.125% Senior Subordinated Notes due 2027
Corporate borrowings and capital and financing lease obligations
Stated interest rate (as a percent)	6.125%			6.125%		6.125%		6.125%
Redemption price of debt instrument (as a percent)	100.00%
Debt instrument redemption amount as a percentage of principal amount	35.00%
Number of days to file	270 days
Number of days for effectiveness	365 days
Debt instrument face amount								$ 475
6.125% Senior Subordinated Notes due 2027 | Minimum
Corporate borrowings and capital and financing lease obligations
Redemption price of debt instrument (as a percent)	100.00%
6.125% Senior Subordinated Notes due 2027 | Maximum
Corporate borrowings and capital and financing lease obligations
Redemption price of debt instrument (as a percent)	103.063%

CORPORATE BORROWINGS AND CAPI_3

CORPORATE BORROWINGS AND CAPITAL AND FINANCING LEASE OBLIGATIONS - Financial Covenants (Details) - 12 months ended Dec. 31, 2019 € in Millions, $ in Millions	USD ($)	EUR (€)	USD ($)
Corporate borrowings and capital and financing lease obligations
Maximum additional debt	$ 215
Letter of Credit
Corporate borrowings and capital and financing lease obligations
Outstanding borrowings	10
5.875% Senior Subordinated Notes due 2022
Corporate borrowings and capital and financing lease obligations
Maximum dividends allowed through the second anniversary of issuance	2,700
Senior Secured Revolving Credit Facility
Corporate borrowings and capital and financing lease obligations
Available borrowing capacity			$ 332
Odeon Revolving Credit Facility
Corporate borrowings and capital and financing lease obligations
Outstanding borrowings	$ 0
Odeon Revolving Credit Facility | Letter of Credit
Corporate borrowings and capital and financing lease obligations
Available borrowing capacity		€ 89.2	$ 14.2

STOCKHOLDERS' EQUITY (Details)

STOCKHOLDERS' EQUITY (Details)	Feb. 26, 2020USD ($)$ / shares	Oct. 24, 2019USD ($)$ / shares	Aug. 02, 2019USD ($)$ / shares	May 03, 2019USD ($)$ / shares	Feb. 15, 2019USD ($)$ / shares	Nov. 01, 2018USD ($)$ / shares	Sep. 14, 2018USD ($)item$ / sharesshares	Aug. 03, 2017USD ($)	Feb. 13, 2017USD ($)$ / sharesshares	Dec. 19, 2016USD ($)$ / shares	Sep. 19, 2016USD ($)$ / shares	Mar. 21, 2016USD ($)$ / shares	Jun. 20, 2016USD ($)$ / shares	Dec. 31, 2019USD ($)itememployee$ / sharesshares	Dec. 31, 2018USD ($)$ / sharesshares	Dec. 31, 2017USD ($)$ / sharesshares	Dec. 31, 2016USD ($)$ / sharesshares	Jun. 30, 2017$ / shares
Dividends
Dividends | $ / shares		$ 0.20	$ 0.20	$ 0.20	$ 0.20	$ 0.20				$ 1.55	$ 0.20	$ 0.20	$ 0.20
Dividends declared		$ 21,000,000	$ 21,300,000	$ 21,300,000	$ 21,300,000	$ 21,200,000	$ 1.55			$ 162,900,000	$ 25,800,000	$ 26,000,000	$ 26,000,000
Dividends and dividend equivalents														$ 84,100,000	$ 258,100,000	$ 104,600,000
Deferred tax asset for dividend equivalents paid															500,000
Shares surrendered to pay for payroll taxes, value														1,300,000	1,800,000	$ 6,500,000
Accrued unpaid dividends														2,300,000	4,000,000
Additional Public Offering
Number of shares issued | shares																616,800,000
Value of shares issued																$ 616,800,000
Additional paid-in capital														2,001,900,000	$ 1,998,400,000
Price per share (in dollars per share) | $ / shares															$ 6.86			$ 7.42
Value of stock repurchased and canceled															$ 412,600,000
Reclassification from temporary equity														400,000	400,000
Treasury Stock
Cost of treasury shares															8,200,000	47,500,000
Equity disclosures
Value of shares issued for stock based compensation														4,400,000	$ 14,900,000
Price per share (in dollars per share) | $ / shares															$ 6.86			$ 7.42
Recorded stock-based compensation expense														$ 4,400,000
Number of shares to be received for each unit | shares														1
Related Party Transactions
Number of days for settlement														30 days
Treasury Stock
Treasury Stock
Cost of treasury shares															$ 8,200,000	47,500,000
Additional Paid-in Capital
Dividends
Shares surrendered to pay for payroll taxes, value														$ 1,300,000	1,800,000	$ 6,500,000
Additional Public Offering
Number of shares issued | shares																616,600,000
Value of stock repurchased and canceled															256,700,000
Reclassification from temporary equity														400,000	400,000
Equity disclosures
Value of shares issued for stock based compensation														4,400,000	14,900,000	$ 3,900,000
G&A: Other
Equity disclosures
Stock-based compensation expense included in general and administrative expenses														4,400,000	14,900,000	$ 5,700,000
Subsequent Events
Dividends
Decrease in declared dividend (in dollars per share) | $ / shares	$ 0.17
Historical dividend amount (in dollars per share) | $ / shares	$ 0.20
Decrease in declared dividends	$ 18,000,000
2.95% Senior Unsecured Convertible Notes due 2024
Additional Public Offering
Carrying value							$ 587,500,000							$ 515,600,000	524,300,000
Price per share (in dollars per share) | $ / shares														$ 7.24
Equity disclosures
Price per share (in dollars per share) | $ / shares														$ 7.24
Maximum
Additional Public Offering
Ownership percentage														50.00%
Tranche 1
Shares of RSU and PSU
Target Stock Price | $ / shares														$ 15
PSUs vesting | shares														75,000
Tranche 2
Equity disclosures
Stock-based compensation expense included in general and administrative expenses															(2,000,000)
Shares of RSU and PSU
Target Stock Price | $ / shares														$ 20
PSUs vesting | shares														75,000
Tranche 3
Shares of RSU and PSU
Target Stock Price | $ / shares														$ 25
PSUs vesting | shares														75,000
Tranche 4
Shares of RSU and PSU
Target Stock Price | $ / shares														$ 30
PSUs vesting | shares														75,000
Members of management and executive officers | Performance Vesting
Equity disclosures
Stock-based compensation expense included in general and administrative expenses															$ (1,800,000)
Period of cumulative adjusted EBITDA, diluted earnings pershare, and net profit results to meet the performance target condition															3 years
Former Employee and Current Employee
Additional Public Offering
Number of former employees | employee														1
Number of current employees | employee														1
Temporary equity (in shares) | shares														37,105
Reclassification from temporary equity														$ 400,000
Employee
Equity disclosures
Increase (decrease) to additional paid-in capital related to stock based compensation														$ 400,000
Shares of RSU and PSU
Forfeited (in shares) | shares														(75,712)
Performance Stock Unit Transition Award
Equity disclosures
Awards to be granted if target not achieved (in shares) | shares														5,800,000	5,800,000
RSU and PSU Units
Equity disclosures
Restricted stock unit granted (in shares) | shares														1,960,334	1,313,152	701,788
Shares of RSU and PSU
Balance at the beginning of the period (in shares) | shares														1,934,447	1,083,841	556,510
Granted (in shares) | shares														1,960,334	1,313,152	701,788
Vested (in shares) | shares														(303,201)	(408,848)	(92,722)
Forfeited (in shares) | shares														(220,632)	(53,698)	(44,309)
Canceled | shares														(100,855)		(37,426)
Nonvested at the end of the period (in shares) | shares														3,270,093	1,934,447	1,083,841	556,510
Weighted Average Grant Date Fair Value
Balance at the beginning of the period (in dollars per share) | $ / shares														$ 21.50	$ 28.61	$ 24.88
Granted (in dollars per share) | $ / shares														12.89	15.65	31.23
Vested (in dollars per share) | $ / shares														21.76	21.68	24.88
Forfeited (in dollars per share) | $ / shares														17.17	20.69	28.68
Cancelled (in dollars per share) | $ / shares														21.46		31.45
Unvested at the end of the period (in dollars per share) | $ / shares														15.88	21.50	28.61	$ 24.88
RSU and PSU Units | Minimum
Additional Public Offering
Price per share (in dollars per share) | $ / shares														8.67	8.67	8.67
Equity disclosures
Price per share (in dollars per share) | $ / shares														8.67	8.67	8.67
RSU and PSU Units | Maximum
Additional Public Offering
Price per share (in dollars per share) | $ / shares														31.45	31.45	31.45
Equity disclosures
Price per share (in dollars per share) | $ / shares														$ 31.45	$ 31.45	$ 31.45
2019 RSU awards
Equity disclosures
Recorded stock-based compensation expense														$ 3,500,000
2018 RSU awards
Equity disclosures
Recorded stock-based compensation expense														3,100,000
2017 RSU awards
Equity disclosures
Recorded stock-based compensation expense														1,600,000
2019 RSU executive
Equity disclosures
Recorded stock-based compensation expense														$ 100,000
Performance Vesting | Members of management and executive officers
Equity disclosures
Restricted stock unit granted (in shares) | shares														730,167
Number of days from the termination of service for settlement of fully vested units														30 days
Period of cumulative free cash flow and net income required to meet the performance target condition																3 years
Period of cumulative adjusted EBITDA, diluted earnings pershare, and net profit results to meet the performance target condition														3 years	3 years
Awards to be granted if target not achieved (in shares) | shares														0
Shares of RSU and PSU
Granted (in shares) | shares														730,167
Performance Vesting | Members of management and executive officers | Minimum
Equity disclosures
PSUs vesting as a percentage of performance target														80.00%
Percentage of performance target														30.00%
Performance Vesting | Members of management and executive officers | Maximum
Equity disclosures
PSUs vesting as a percentage of performance target														120.00%
Percentage of performance target														200.00%
Performance Vesting | Members of management and executive officers | Prior to January 2, 2019
Equity disclosures
Awards forfeited (as a percent)														66.67%
Performance Vesting | Members of management and executive officers | Prior to January 2, 2020
Equity disclosures
Awards forfeited (as a percent)														33.33%
2013 Equity Incentive Plan | Members of management
Equity disclosures
Recorded stock-based compensation expense														$ 8,200,000
2013 Equity Incentive Plan | Stock options
Equity disclosures
Number of shares authorized | shares														9,474,000
Number of shares remaining available for grant | shares														4,674,150
2013 Equity Incentive Plan | Stock options | Board of Director
Equity disclosures
Stock-based compensation expense included in general and administrative expenses														$ 500,000	$ 500,000	$ 400,000
2013 Equity Incentive Plan | Performance Stock Unit Transition Award | Executive officers
Equity disclosures
Restricted stock unit granted (in shares) | shares														300,000
Shares of RSU and PSU
Granted (in shares) | shares														300,000
Related Party Transactions
Number of days for settlement														20 days
Vesting period (in years)														10 years
2013 Equity Incentive Plan | Restricted stock unit | Members of management and executive officers
Equity disclosures
Number of shares to be received for each unit | shares														1
2013 Equity Incentive Plan | Restricted stock unit | Members of management
Equity disclosures
Number of days from the termination of service for settlement of fully vested units														30 days
Related Party Transactions
Percentage of options that will vest on each of the anniversaries from the date of grant														33.00%	33.00%	33.00%
Vesting period (in years)														3 years	3 years	3 years
2013 Equity Incentive Plan | Restricted stock unit | Executive officers
Additional Public Offering
Price per share (in dollars per share) | $ / shares															$ 31.45	$ 24.88
Equity disclosures
Value of shares issued for stock based compensation																$ 3,400,000
Price per share (in dollars per share) | $ / shares															$ 31.45	$ 24.88
Fair value on grant date															$ 4,100,000
Restricted stock unit granted (in shares) | shares															129,214	135,981
Number of shares to be received for each unit | shares															1
Shares of RSU and PSU
Granted (in shares) | shares															129,214	135,981
Related Party Transactions
Percentage of options that will vest on each of the anniversaries from the date of grant														33.00%	33.00%	33.00%
Number of days for settlement															30 days	30 days
Vesting period (in years)															3 years	3 years
2013 Equity Incentive Plan | 2019 RSU awards | Members of management
Equity disclosures
Restricted stock unit granted (in shares) | shares														730,167
Recorded stock-based compensation expense														$ 3,500,000
Shares of RSU and PSU
Granted (in shares) | shares														730,167
2013 Equity Incentive Plan | 2019 RSU awards | Executive officers
Equity disclosures
Stock-based compensation expense included in general and administrative expenses														$ 1,400,000
2013 Equity Incentive Plan | 2018 RSU awards | Members of management
Equity disclosures
Restricted stock unit granted (in shares) | shares															656,576
Recorded stock-based compensation expense														3,100,000
Shares of RSU and PSU
Granted (in shares) | shares															656,576
2013 Equity Incentive Plan | 2018 RSU awards | Executive officers
Equity disclosures
Stock-based compensation expense included in general and administrative expenses															$ 1,300,000
2013 Equity Incentive Plan | 2017 RSU awards | Members of management
Equity disclosures
Restricted stock unit granted (in shares) | shares																201,726
Recorded stock-based compensation expense														1,600,000
Shares of RSU and PSU
Granted (in shares) | shares																201,726
2013 Equity Incentive Plan | 2017 RSU awards | Executive officers
Equity disclosures
Stock-based compensation expense included in general and administrative expenses																$ 1,400,000
2013 Equity Incentive Plan | 2016 RSU awards | Executive officers
Equity disclosures
Stock-based compensation expense included in general and administrative expenses															$ 1,100,000	$ 1,100,000	$ 1,100,000
2013 Equity Incentive Plan | 2019 RSU executive | Members of management
Equity disclosures
Stock-based compensation expense included in general and administrative expenses														$ 100,000
2013 Equity Incentive Plan | 2019 RSU executive | Executive officers
Equity disclosures
Restricted stock unit granted (in shares) | shares														200,000
Shares of RSU and PSU
Granted (in shares) | shares														200,000
Related Party Transactions
Number of days for settlement														30 days
Vesting period (in years)														3 years
2013 Equity Incentive Plan | Performance Vesting | Members of management and executive officers
Equity disclosures
Awards to be granted upon achieving 100% of performance target (in shares) | shares														730,167
Class A common stock
Common Stock Rights and Privileges
Number of votes per share | item														1
Dividends
Cash dividend declared (in dollars per share) | $ / shares														$ 0.20	$ 0.20	$ 0.20
Dividends and dividend equivalents														$ 41,700,000	$ 122,000,000	$ 43,900,000
Additional Public Offering
Number of shares issued | shares									20,330,874
Price per share | $ / shares									$ 31.50
Value of shares issued									$ 640,400,000
Net proceeds									616,800,000
Repayment of Bridge Loan									$ 350,000,000
Treasury Stock
Share repurchase program amount								$ 100,000,000
Stock repurchase program period								2 years
Number of treasury shares purchased | shares														500,000	3,195,856
Cost of treasury shares														$ 8,200,000	$ 47,500,000
Class A common stock | Subsequent Events
Dividends
Cash dividend declared (in dollars per share) | $ / shares	$ 0.03
Class A common stock | 2.95% Senior Unsecured Convertible Notes due 2024
Additional Public Offering
Number of shares upon conversion														31,662,269
Class A common stock | 2013 Equity Incentive Plan | Stock options | Board of Director
Equity disclosures
Shares granted | shares														32,464	28,055	13,684
Class B common stock
Common Stock Rights and Privileges
Number of votes per share | item														3
Number of shares to be issued on conversion of each common stock at option of holder | shares														1
Number of shares to be issued on automatic conversion of each common stock | shares														1
Dividends
Cash dividend declared (in dollars per share) | $ / shares														$ 0.20	$ 0.20	$ 0.20
Dividends and dividend equivalents														$ 41,400,000	$ 136,100,000	$ 60,600,000
Class B common stock | Subsequent Events
Dividends
Cash dividend declared (in dollars per share) | $ / shares	$ 0.03
Class B common stock | 2.95% Senior Unsecured Convertible Notes due 2024
Additional Public Offering
Common stock repurchased and cancellation (in shares) | shares							24,057,143
Price per share (in dollars per share) | $ / shares							$ 17.50
Value of stock repurchased and canceled							$ 421,000,000
Legal fees							$ 2,600,000
Number of shares upon conversion | item							5,666,000
Equity disclosures
Price per share (in dollars per share) | $ / shares							$ 17.50
Dividend Equivalents
Dividends
Dividends and dividend equivalents														1,000,000	100,000	200,000
Accrued unpaid dividends																1,100,000
Wanda
Additional Public Offering
Receivable due from related party														$ 800,000	900,000
Ownership percentage														49.85%
Combined voting power held in Holdings (as a percent)														74.89%
Related Party Transactions
Receivable due from related party														$ 800,000	900,000
Reimbursement of expenses														$ 400,000	$ 0	$ 600,000
Wanda | Minimum
Additional Public Offering
Ownership percentage							50.10%
Wanda | Class A common stock
Additional Public Offering
Voting ratio between Class B and Class A common stock														three-to-one voting ratio
Wanda | Class B common stock
Additional Public Offering
Shares owned | shares														51,769,784
Number of shares upon conversion														5,666,000

STOCKHOLDERS' EQUITY - Investme

STOCKHOLDERS' EQUITY - Investment Agreement (Details) - USD ($) $ in Millions	Dec. 31, 2019	Sep. 14, 2018
STOCKHOLDERS' EQUITY
Principal balance		$ 600
Maximum
STOCKHOLDERS' EQUITY
Ownership percentage	50.00%
Wanda
STOCKHOLDERS' EQUITY
Ownership percentage	49.85%
Wanda | Minimum
STOCKHOLDERS' EQUITY
Ownership percentage		50.10%

STOCKHOLDERS' EQUITY - compensa

STOCKHOLDERS' EQUITY - compensation expense (Details) $ in Millions	12 Months Ended
	Dec. 31, 2019USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Recorded stock-based compensation expense	$ 4.4
Unrecognized stock-based compensation expense	13
Board Of Directors 2019 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Recorded stock-based compensation expense	0.5
2019 RSU awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Recorded stock-based compensation expense	3.5
Unrecognized stock-based compensation expense	7
2018 RSU awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Recorded stock-based compensation expense	3.1
Unrecognized stock-based compensation expense	3
2018 PSU awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Recorded stock-based compensation expense	(5.8)
2017 RSU awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Recorded stock-based compensation expense	1.6
2017 RSU NEO awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Recorded stock-based compensation expense	1.4
2019 RSU executive
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Recorded stock-based compensation expense	0.1
Unrecognized stock-based compensation expense	1.6
2019 PSU executive
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized stock-based compensation expense	1.4
Expected to Recognize 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Recorded stock-based compensation expense	8.1
Expected to Recognize 2020 | 2019 RSU awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Recorded stock-based compensation expense	3.5
Expected to Recognize 2020 | 2018 RSU awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Recorded stock-based compensation expense	3
Expected to Recognize 2020 | 2019 RSU executive
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Recorded stock-based compensation expense	1.1
Expected to Recognize 2020 | 2019 PSU executive
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Recorded stock-based compensation expense	0.5
Expected To Recognize 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense expected to be recognized	4.3
Expected To Recognize 2021 | 2019 RSU awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense expected to be recognized	3.5
Expected To Recognize 2021 | 2019 RSU executive
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense expected to be recognized	0.3
Expected To Recognize 2021 | 2019 PSU executive
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense expected to be recognized	0.5
Expected To Recognize 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense expected to be recognized	0.4
Expected To Recognize 2022 | 2019 RSU executive
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense expected to be recognized	0.2
Expected To Recognize 2022 | 2019 PSU executive
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense expected to be recognized	0.2
Expected To Recognize 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense expected to be recognized	0.1
Expected To Recognize 2023 | 2019 PSU executive
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense expected to be recognized	0.1
Expected To Recognize 2024
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense expected to be recognized	0.1
Expected To Recognize 2024 | 2019 PSU executive
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense expected to be recognized	$ 0.1

STOCKHOLDERS' EQUITY - fair val

STOCKHOLDERS' EQUITY - fair value of PSU (Details) - 2019 PSU awards $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2019USD ($)$ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected stock price volatility	45.00%
Expected dividend yield	9.23%
Risk-free interest rate	1.83%
Grant-date stock price | $ / shares	$ 8.67
Requisite service period	4 years 7 months 6 days
Grant date fair value | $	$ 1.4

INCOME TAXES - Effective income

INCOME TAXES - Effective income tax rate on earnings (Details) - USD ($) $ in Millions	Dec. 01, 2017	Dec. 31, 2019	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Reconciliation of effective tax rate on earnings (loss) from continuing operations before income taxes and the U.S. federal income tax statutory rate
Income tax expense at the federal statutory rate			$ (36)	$ 26	$ (116.6)
Effect of:
State income taxes			(7.2)	8.9	(17.6)
Increase (decrease) in reserve for uncertain tax positions			8.4	5.2	2.1
Federal and state credits			(6.5)	(5.9)	(5.2)
Permanent items - transaction costs					2
Permanent items - other			(6.6)	5.7	(9.4)
Foreign rate differential			11.8	(5.9)	(15.3)
Change in legislation					88.6
Other items			(10.6)	9.7	4.9
Valuation allowance	$ 432		$ 24.2	$ (30.1)	$ 220.6
Effective income tax rate (as a percent)			13.10%	11.00%	(46.30%)
Gross decreases-tax position in prior periods			$ 1.5	$ 0.6
Income tax provision (benefit)			$ 22.5	(13.6)	$ (154.1)
Federal
Effect of:
Valuation allowance	$ (210.4)
Foreign
Effect of:
Valuation allowance				$ (1)
Spain
Effect of:
Income tax provision (benefit)		$ (41.5)

INCOME TAXES - Income tax provi

INCOME TAXES - Income tax provision (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Current:
Federal		$ (0.1)	$ (0.5)	$ (13.4)
Foreign		8.4	5	5.3
State		2.9	15.5	4.4
Total current		11.2	20	(3.7)
Deferred:
Federal		(4.2)	0.8	116.4
Foreign		(42.8)	(7.5)	(5.5)
State		13.3	0.3	46.9
Deferred income taxes		(33.7)	(6.4)	157.8
Total provision (benefit)		(22.5)	13.6	154.1
Income tax provision (benefit)		(22.5)	13.6	154.1
Pre-tax income (losses)
Domestic		(165.1)	154.4	(362.3)
Foreign		(6.5)	(30.7)	29.2
Total		$ (171.6)	123.7	(333.1)
Federal
Valuation allowance
Amount of valuation allowance recorded			$ 221.6
Effect of Tax Cuts and Jobs Act [Abstract]
Enacted federal income tax rate		21.00%	35.00%
Income tax benefit				121.8
Deferred tax expense				88.6
Deferred tax benefit				$ 210.4
Income tax expense related to undistributed foreign earnings		$ 0
Spain
Deferred:
Income tax provision (benefit)	$ 41.5

INCOME TAXES - Deferred taxes (

INCOME TAXES - Deferred taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2019	Dec. 31, 2018
Assets
Accrued liabilities				$ 17	$ 13.6
Receivables				7.8
Investments				17.8	12
Capital loss carryforwards				1.2	1
Pension postretirement and deferred compensation				21.6	21.9
Disallowed interest				42.1	14.9
Deferred revenue				170.8	201.7
Lease liabilities				1,377.7	165.6
Capital and financing lease obligations				2.4	118.5
Alternative minimum tax and other credit carryovers				18	17.7
Net operating loss carryforward				202.8	199.3
Total				1,879.2	766.2
Less: Valuation allowance	$ (323.6)	$ (338.4)	$ (338.4)	(312.8)	(323.6)
Net deferred income taxes				1,566.4	442.6
Liabilities
Tangible assets				(152.6)	(210.6)
Intangible assets				(99.7)	(128.7)
Receivables					(3.7)
Corporate borrowings				(101.8)	(111.6)
Other comprehensive income				(1)	(1)
Total deferred income taxes				$ (1,542.3)	$ (455.6)
Rollforward of the Company's valuation allowance for deferred tax assets
Balance at Beginning of Period	323.6	338.4	112.2
Additions Charged (Credited) to Expenses	24.2	(30.1)	220.6
Charged (Credited) to Goodwill			(9.1)
Charged (Credited) to Other Accounts	(35)	15.3	14.7
Balance at End of Period	$ 312.8	$ 323.6	$ 338.4

INCOME TAXES - Income tax loss

INCOME TAXES - Income tax loss carryforward (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Income tax loss carryforward
Valuation allowance	$ 312.8	$ 323.6	$ 338.4	$ 112.2
Austria theatres
Income tax loss carryforward
Valuation allowance	28.6
Federal
Income tax loss carryforward
Income tax loss carryforward	380.9
Income tax loss carryforward subject to expiration	290.9
Income tax loss carryforward not subject to expiration	90
Foreign
Income tax loss carryforward
Income tax loss carryforward	487.2
Foreign | Expiration between 2018 and 2028
Income tax loss carryforward
Income tax loss carryforward	6.2
State
Income tax loss carryforward
Income tax loss carryforward	380.4
Income tax loss carryforward subject to expiration	374
Income tax loss carryforward not subject to expiration	$ 6.4
State | Minimum
Income tax loss carryforward
Period of limitations on use	1 year
State | Maximum
Income tax loss carryforward
Period of limitations on use	20 years

INCOME TAXES - Deferred tax ass

INCOME TAXES - Deferred tax assets (Details)	Dec. 31, 2018	Dec. 31, 2017
5.875% Senior Subordinated Notes due 2022
INCOME TAXES
Stated interest rate (as a percent)	5.875%	5.875%

INCOME TAXES - Unrecognized tax

INCOME TAXES - Unrecognized tax benefits (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)item	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Reconciliation of the change in the amount of unrecognized tax benefits
Balance at beginning of period	$ 22,000	$ 15,300	$ 12,700
Gross increases-current period tax positions	10,500	7,300	3,200
Gross increases-prior periods tax position			300
Gross decreases-tax position in prior periods	(1,500)	(600)
Impact of legislation change			(900)
Balance at end of period	31,000	22,000	15,300
Interest expense recognized		0	0
Unrecognized tax benefits that would impact the effective tax rate	$ 12,200	15,200
Number of subsidiaries files income tax returns in the U.S. federal jurisdiction, and various state and foreign jurisdictions | item	1
State
Reconciliation of the change in the amount of unrecognized tax benefits
Accrued interest and penalties		$ 100	$ 100

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details)	Oct. 24, 2019USD ($)	Aug. 02, 2019USD ($)	May 03, 2019USD ($)	Feb. 15, 2019USD ($)	Nov. 01, 2018USD ($)	Sep. 14, 2018USD ($)	Dec. 19, 2016USD ($)	Sep. 19, 2016USD ($)	Mar. 21, 2016USD ($)	Jun. 20, 2016USD ($)	Dec. 31, 2019	Jan. 19, 2018item	Jan. 12, 2018item
COMMITMENTS AND CONTINGENCIES
Weighted average discount rate											7.20%
Dividends declared | $	$ 21,000,000	$ 21,300,000	$ 21,300,000	$ 21,300,000	$ 21,200,000	$ 1.55	$ 162,900,000	$ 25,800,000	$ 26,000,000	$ 26,000,000
Number of pending actions | item												2	2

FAIR VALUE MEASUREMENTS - Fair

FAIR VALUE MEASUREMENTS - Fair value on a recurring basis (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Other long-term assets:
Derivative asset	$ 38	$ 55.7
Investment in NCM	239.1	232.4
Significant unobservable inputs (Level 3)
Other long-term assets:
Total carrying Value	157.7
Recurring basis | Total Carrying Value
Other long-term assets:
Money market mutual funds	0.6	0.5
Derivative asset	38	55.7
Investments measured at net asset value	11.9	9.6
Investment in NCM	0.7
Total carrying Value	51.2	65.8
Other long-term liabilities:
Derivative liability	0.5	24
Total liabilities at fair value	0.5	24
Recurring basis | Quoted prices in active market (Level 1)
Other long-term assets:
Money market mutual funds	0.6	0.5
Investment in NCM	0.7
Total carrying Value	1.3	0.5
Recurring basis | Significant unobservable inputs (Level 3)
Other long-term assets:
Derivative asset	38	55.7
Total carrying Value	38	55.7
Other long-term liabilities:
Derivative liability	0.5	24
Total liabilities at fair value	$ 0.5	$ 24

FAIR VALUE MEASUREMENTS - Fai_2

FAIR VALUE MEASUREMENTS - Fair value on a nonrecurring basis (Details) - USD ($) $ in Millions	Dec. 29, 2017	Jun. 30, 2017	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Sep. 14, 2018
Fair value measurements
Other than Temporary Impairment Losses, Investments					$ 16	$ 208
Other Fair Value Measurement Disclosures
Operating lease right-of-use assets, net				$ 4,796
Property owned, net				157.7
Total loss on Operating lease right-of-use assets				60
Total loss on equity interest investment	$ 3.5	$ 204.5		3.6
Total losses				87.9	13.8	43.6
Impairment of long-lived assets			$ 13.8	84.3	13.8	$ 43.6
Current maturities of corporate borrowings, carrying value			15.2	20	15.2
Corporate borrowings, noncurrent, carrying value			4,707.8	4,733.4	4,707.8
Other long-term assets
Other Fair Value Measurement Disclosures
Total loss on equity interest investment				3.6
Impairment of long-lived assets				1.2
Nonrecurring basis
Other Fair Value Measurement Disclosures
Total losses				23.1	13.8
2.95% Senior Unsecured Convertible Notes due 2024
Other Fair Value Measurement Disclosures
Convertible debt, carrying value			524.3	515.6	524.3		$ 587.5
Convertible debt, fair value							$ 600
Total Carrying Value
Other Fair Value Measurement Disclosures
Operating lease right-of-use assets				123.3
Total carrying Value				157.7
Current maturities of corporate borrowings, carrying value			15.2	20	15.2
Corporate borrowings, noncurrent, carrying value			4,707.8	4,733.4	4,707.8
Total Carrying Value | Other long-term assets
Other Fair Value Measurement Disclosures
Property owned, net				3
Equity interest investment				2.2
Total Carrying Value | Nonrecurring basis
Other Fair Value Measurement Disclosures
Property owned, net			17.3	29.2	17.3
Significant other observable inputs (Level 2)
Other Fair Value Measurement Disclosures
Current maturities of corporate borrowings, fair value			13.4	20.4	13.4
Corporate borrowings, noncurrent, fair value			3,909.2	4,135.3	3,909.2
Significant unobservable inputs (Level 3)
Other Fair Value Measurement Disclosures
Property owned, net			17.3		17.3
Operating lease right-of-use assets				123.3
Total carrying Value				157.7
Current maturities of corporate borrowings, fair value			1.4		1.4
Corporate borrowings, noncurrent, fair value			475.2	514.9	475.2
Significant unobservable inputs (Level 3) | Other long-term assets
Other Fair Value Measurement Disclosures
Property owned, net				3
Equity interest investment				2.2
Significant unobservable inputs (Level 3) | Nonrecurring basis
Other Fair Value Measurement Disclosures
Property owned, net			$ 17.3	29.2	17.3
NCM
Other Fair Value Measurement Disclosures
Total loss on equity interest investment				$ 16	$ 208

OPERATING SEGMENT (Details)

OPERATING SEGMENT (Details) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2019USD ($)	Sep. 30, 2019USD ($)	Jun. 30, 2019USD ($)	Mar. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Sep. 30, 2018USD ($)	Jun. 30, 2018USD ($)	Mar. 31, 2018USD ($)	Dec. 31, 2019USD ($)segment	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
OPERATING SEGMENT
Number of reportable segments | segment									2
Revenue	$ 1,447.7	$ 1,316.8	$ 1,506.1	$ 1,200.4	$ 1,413.3	$ 1,221.4	$ 1,442.5	$ 1,383.6	$ 5,471	$ 5,460.8	$ 5,079.2
Long-term assets, net	13,002.7				8,714.5				13,002.7	8,714.5
Adjusted EBITDA									771.4	929.2	822.5
Capital expenditures									518.1	576.3	626.8
U.S.
OPERATING SEGMENT
Revenue									4,023.2	4,013.2	3,723.5
Long-term assets, net	9,039.6				5,826.5				9,039.6	5,826.5
Adjusted EBITDA									575.6	700.5	610
Capital expenditures									369.4	395.6	543.7
International markets
OPERATING SEGMENT
Revenue									1,447.8	1,447.6	1,355.7
Long-term assets, net	$ 3,963.1				$ 2,888				3,963.1	2,888
Adjusted EBITDA									195.8	228.7	212.5
Capital expenditures									148.7	180.7	83.1
UK
OPERATING SEGMENT
Revenue									500.4	513.5	509.8
Spain
OPERATING SEGMENT
Revenue									200.3	193.9	187.1
Sweden
OPERATING SEGMENT
Revenue									177.5	192.1	154.2
Italy
OPERATING SEGMENT
Revenue									200	178.5	185.5
Germany
OPERATING SEGMENT
Revenue									135	114.3	129.7
Finland
OPERATING SEGMENT
Revenue									103	101.7	77.3
Ireland
OPERATING SEGMENT
Revenue									37.9	34.9	17.7
Other foreign countries
OPERATING SEGMENT
Revenue									$ 93.7	$ 118.7	$ 94.4

OPERATING SEGMENT - Reconciliat

OPERATING SEGMENT - Reconciliation (Details) $ / shares in Units, kr in Millions, $ in Millions	Dec. 29, 2017USD ($)	Jun. 30, 2017USD ($)$ / shares	Dec. 31, 2019USD ($)$ / shares	Sep. 30, 2019USD ($)	Jun. 30, 2019USD ($)	Mar. 31, 2019USD ($)	Dec. 31, 2018USD ($)$ / shares	Sep. 30, 2018USD ($)	Jun. 30, 2018USD ($)	Mar. 31, 2018USD ($)	Dec. 31, 2019SEK (kr)	Dec. 31, 2019USD ($)$ / shares	Dec. 31, 2018SEK (kr)	Dec. 31, 2018USD ($)$ / shares	Dec. 31, 2017USD ($)	Mar. 14, 2019$ / shares	Jun. 18, 2018$ / shares	Mar. 15, 2018$ / shares
Reconciliation of net income to EBITDA
Net earnings (loss)			$ (13.5)	$ (54.8)	$ 49.4	$ (130.2)	$ 170.6	$ (100.4)	$ 22.2	$ 17.7		$ (149.1)		$ 110.1	$ (487.2)
Income tax provision (benefit)												(22.5)		13.6	154.1
Interest expense												340.8		342.3	274
Depreciation and amortization												450		537.8	538.6
Impairment of long-lived assets							$ 13.8					84.3		13.8	43.6
Certain operating expenses												14.8		24	20.6
Equity in (earnings) loss of non-consolidated entities												(30.6)		(86.7)	185.2
Cash distributions from non-consolidated entities												35.8		35.2	45.4
Attributable EBITDA												5		7.3	3.4
Investment income												16		6.2	22.6
Other expense (income)												13.3		(108.2)	(1.3)
Non-cash rent - purchase accounting												25.7
General and Administrative Expense [Abstract]
Merger, acquisition and other costs												15.5		31.3	63
Share-based Compensation Cash Portion												4.4		14.9	5.7
Adjusted EBITDA												771.4		929.2	822.5
Marked-to-market (gain) on derivative liability												(5.8)		(111.4)
Foreign currency transactions losses												(1.5)		(1.4)	3
Income (Loss) from Equity Method Investments												30.6		86.7	(185.2)
Investment expense (income)	$ 3.5	$ 204.5										3.6
Loss on derivative asset, increase of derivative liability												111.4
Loss on GBP forward contract												0.9		$ 0.4
Price per share (in dollars per share) | $ / shares		$ 7.42					$ 6.86							$ 6.86
Third party fees on debt agreement							$ 1.3							$ 1.3
Loss on extinguishment of debt												16.6			0.5
Loss on repayment of indebtedness												16.6			0.4
Non operating net periodic benefit cost												1.2		0.8	0.2
Derivative asset fair value adjustment for contingent call option related to the Class B common stock purchase and cancellation agreement											kr (17.7)	17.7	kr 45	(45)
Derivative liability fair value adjustment for embedded conversion feature in the Convertible Notes due 2024											kr 23.5	23.5	kr 66.4	66.4
Bridge Loan Agreement due 2017
General and Administrative Expense [Abstract]
Loss on extinguishment of debt														0.4
2.95% Senior Unsecured Convertible Notes due 2024
General and Administrative Expense [Abstract]
Marked-to-market (gain) on derivative liability												$ 23.5		66.4
Price per share (in dollars per share) | $ / shares			$ 7.24									$ 7.24
Attributable EBITDA
Reconciliation of net income to EBITDA
Income tax provision (benefit)												$ 0.4		0.4
Depreciation and amortization												3.4		2.6	1.6
Equity in (earnings) loss of non-consolidated entities												30.6		86.7	(185.2)
Equity in earnings (loss) non-theatre JV's												(29.2)		(81.9)	187
Equity in earnings (loss) International theatre JV's												1.4		4.8	1.8
Attributable EBITDA												(5)		(7.3)	(3.4)
Investment income												0.7		0.5
Other expense (income)												(0.5)
General and Administrative Expense [Abstract]
Income (Loss) from Equity Method Investments												(30.6)		(86.7)	185.2
International markets
General and Administrative Expense [Abstract]
Adjusted EBITDA												195.8		228.7	212.5
NCM
Reconciliation of net income to EBITDA
Equity in (earnings) loss of non-consolidated entities												(28.9)
General and Administrative Expense [Abstract]
Income (Loss) from Equity Method Investments												28.9
Investment expense (income)												16		208
Price per share (in dollars per share) | $ / shares																$ 7.24	$ 7.30	$ 5.64
Gain (loss) on sale														28.9	(22.2)
Loss on disposition												1.1
Screenvision
Reconciliation of net income to EBITDA
Equity in (earnings) loss of non-consolidated entities												(30.1)
General and Administrative Expense [Abstract]
Income (Loss) from Equity Method Investments												30.1
Gain (loss) on sale												30.1
DCIP
Reconciliation of net income to EBITDA
Net earnings (loss)												25.4		29.1
Equity in (earnings) loss of non-consolidated entities												(25.4)		(29.1)	(28.6)
General and Administrative Expense [Abstract]
Income (Loss) from Equity Method Investments												$ 25.4		$ 29.1	$ 28.6

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE INCOME - Change in AOCI by component (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Changes in accumulated other comprehensive income
Balance at the beginning of the period	$ 1,397.6	$ 2,112.4	$ 2,009.6
Other comprehensive income (loss):	(31.6)	(124.5)	128.1
Balance at the end of the period	1,214.2	1,397.6	2,112.4
Accumulated Other Comprehensive Income (Loss)
Changes in accumulated other comprehensive income
Balance at the beginning of the period	5.5	125.6	(2.5)
Other comprehensive income (loss) before reclassifications	(32.1)	(123.3)
Amounts reclassified from accumulated other comprehensive income	0.5	(1.2)
Other comprehensive income (loss):	(31.6)	(124.5)	128.1
Balance at the end of the period	(26.1)	5.5	125.6
Accumulated Other Comprehensive Income (Loss) | Accounting Standards Update 2016-01 [Member]
Changes in accumulated other comprehensive income
Amounts reclassified from accumulated other comprehensive income		(0.6)
Accumulated Other Comprehensive Income (Loss) | Accounting Standards Update 2018-02 [Member]
Changes in accumulated other comprehensive income
Amounts reclassified from accumulated other comprehensive income		5
Foreign Currency
Changes in accumulated other comprehensive income
Balance at the beginning of the period	7.2	129.9
Other comprehensive income (loss) before reclassifications	(16.5)	(127.7)	131.7
Amounts reclassified from accumulated other comprehensive income	0.5	1
Other comprehensive income (loss):		(126.7)
Balance at the end of the period	(8.8)	7.2	129.9
Foreign Currency | Accounting Standards Update 2018-02 [Member]
Changes in accumulated other comprehensive income
Amounts reclassified from accumulated other comprehensive income		4
Pension and Other Benefits (recorded in G&A : Other)
Changes in accumulated other comprehensive income
Balance at the beginning of the period	(1.8)	(6.6)
Other comprehensive income (loss) before reclassifications	(15.5)	4.2
Other comprehensive income (loss):		4.2
Balance at the end of the period	(17.3)	(1.8)	(6.6)
Pension and Other Benefits (recorded in G&A : Other) | Accounting Standards Update 2018-02 [Member]
Changes in accumulated other comprehensive income
Amounts reclassified from accumulated other comprehensive income		0.6
Unrealized Gains from Marketable Securities (Recorded in Investment income)
Changes in accumulated other comprehensive income
Balance at the beginning of the period		0.6
Other comprehensive income (loss) before reclassifications			0.7
Balance at the end of the period			0.6
Unrealized Gains from Marketable Securities (Recorded in Investment income) | Accounting Standards Update 2016-01 [Member]
Changes in accumulated other comprehensive income
Amounts reclassified from accumulated other comprehensive income		(0.6)
Unrealized Gain from Equity Method Investees' Cash Flow Hedge
Changes in accumulated other comprehensive income
Balance at the beginning of the period	0.1	1.7
Other comprehensive income (loss) before reclassifications	$ (0.1)	0.2
Amounts reclassified from accumulated other comprehensive income		(2.2)	(0.9)
Other comprehensive income (loss):		(2)
Balance at the end of the period		0.1	$ 1.7
Unrealized Gain from Equity Method Investees' Cash Flow Hedge | Accounting Standards Update 2018-02 [Member]
Changes in accumulated other comprehensive income
Amounts reclassified from accumulated other comprehensive income		$ 0.4

ACCUMULATED OTHER COMPREHENSI_4

ACCUMULATED OTHER COMPREHENSIVE INCOME - OCI and tax effects (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Pre-Tax Amount
Realized loss on foreign currency transactions	$ 0.5
Other comprehensive income (loss), before tax	(34)	$ (124.7)	$ 139.1
Tax (Expense) Benefit
Realized loss on foreign currency transactions, tax		1
Other comprehensive income (loss), tax	2.4	0.2	(11)
Net-of-Tax Amount
Realized loss on foreign currency transactions reclassified into other expense, net of tax	0.5	1
Realized net gain reclassified into investment income, net of tax			(0.4)
Other comprehensive income (loss):	(31.6)	(124.5)	128.1
Foreign Currency
Pre-Tax Amount
Unrealized net holding gain (loss) arising during the period	(18.3)	(127.5)	142.6
Tax (Expense) Benefit
Unrealized net holding gain (loss) arising during the period, tax	1.8	(0.2)	(10.9)
Net-of-Tax Amount
Unrealized net holding gain (loss) arising during the period, net of tax	(16.5)	(127.7)	131.7
Reclassification adjustment for net gain (loss) realized in net earnings, net of tax	0.5	1
Other comprehensive income (loss):		(126.7)
Foreign Currency | Accounting Standards Update 2018-02 [Member]
Net-of-Tax Amount
Reclassification adjustment for net gain (loss) realized in net earnings, net of tax		4
Pension and Other Benefit Adjustments, Net Gain or Loss
Pre-Tax Amount
Unrealized net holding gain (loss) arising during the period	(16.1)	3.8	(2.6)
Tax (Expense) Benefit
Unrealized net holding gain (loss) arising during the period, tax	0.6	0.4	(0.4)
Net-of-Tax Amount
Unrealized net holding gain (loss) arising during the period, net of tax	(15.5)	4.2	(3)
Unrealized Gains from Marketable Securities (Recorded in Investment income)
Pre-Tax Amount
Unrealized net holding gain (loss) arising during the period			1.2
Realized net (gain) loss reclassified into investment expense (income)			(0.6)
Tax (Expense) Benefit
Unrealized net holding gain (loss) arising during the period, tax			(0.5)
Realized net (gain) loss reclassified into investment income, tax			0.2
Net-of-Tax Amount
Unrealized net holding gain (loss) arising during the period, net of tax			0.7
Realized net gain reclassified into investment income, net of tax			(0.4)
Unrealized Gains from Marketable Securities (Recorded in Investment income) | Accounting Standards Update 2016-01 [Member]
Net-of-Tax Amount
Reclassification adjustment for net gain (loss) realized in net earnings, net of tax		(0.6)
Unrealized Gain from Equity Method Investees' Cash Flow Hedge
Pre-Tax Amount
Unrealized net holding gain (loss) arising during the period	(0.1)	0.2
Reclassification adjustment for net gain (loss) realized in net earnings		(2.2)	(1.5)
Tax (Expense) Benefit
Reclassification adjustment for net gain (loss) realized in net earnings, tax			0.6
Net-of-Tax Amount
Unrealized net holding gain (loss) arising during the period, net of tax	$ (0.1)	0.2
Reclassification adjustment for net gain (loss) realized in net earnings, net of tax		(2.2)	$ (0.9)
Other comprehensive income (loss):		(2)
Unrealized Gain from Equity Method Investees' Cash Flow Hedge | Accounting Standards Update 2018-02 [Member]
Net-of-Tax Amount
Reclassification adjustment for net gain (loss) realized in net earnings, net of tax		$ 0.4

EARNINGS (LOSS) PER SHARE (Deta

EARNINGS (LOSS) PER SHARE (Details) - USD ($)	Sep. 14, 2018	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Numerator:
Net earnings (loss)		$ (13,500,000)	$ (54,800,000)	$ 49,400,000	$ (130,200,000)	$ 170,600,000	$ (100,400,000)	$ 22,200,000	$ 17,700,000		$ (149,100,000)	$ 110,100,000	$ (487,200,000)
Net earnings (loss) for diluted earnings (loss) per share											$ (149,100,000)	53,400,000	$ (487,200,000)
Calculation of Net earnings for diluted earnings (loss) per share
Marked-to--market (gain) on derivative liability												(66,400,000)
Interest expense for Convertible Notes due 2024												$ 9,700,000
Denominator (shares in thousands):
Weighted average shares for basic earnings per common share		103,850,000	103,850,000	103,845,000	103,783,000	103,514,000	123,126,000	128,039,000	128,046,000		103,832,000	120,621,000	128,246,000
Common equivalent shares for RSUs and PSUs												29,000
Common equivalent shares if-converted: convertible notes 2024												9,455,000
Weighted average shares for diluted earnings per common share		103,850,000	103,850,000	135,528,000	103,783,000	135,450,000	123,126,000	128,105,000	128,046,000		103,832,000	130,105,000	128,246,000
Basic earnings (loss) per common share (in dollars per share)											$ (1.44)	$ 0.91	$ (3.80)
Diluted earnings (loss) per common share (in dollars per share)											$ (1.44)	$ 0.41	$ (3.80)
Interest expense											$ 292,800,000	$ 262,300,000	$ 231,600,000
Marked-to-market (gain) on derivative liability											$ (5,800,000)	(111,400,000)
2.95% Senior Unsecured Convertible Notes due 2024
Calculation of Net earnings for diluted earnings (loss) per share
Interest expense for Convertible Notes due 2024												$ 9,700,000
Denominator (shares in thousands):
Anti-dilutive securities not included in the computations of diluted earnings per share (in shares)											31,700,000	9,500,000
Interest expense	$ 32,600,000									$ 9,700,000	$ 32,600,000
Marked-to-market (gain) on derivative liability											$ 23,500,000	$ 66,400,000
2.95% Senior Unsecured Convertible Notes due 2024 | Class A common stock
Denominator (shares in thousands):
Conversion rate (in dollars per share)	$ 18.95	$ 18.95									$ 18.95
Number of shares upon conversion											31,662,269
Performance Vesting
Denominator (shares in thousands):
Anti-dilutive securities not included in the computations of diluted earnings per share (in shares)											477,630	364,269	187,468
Restricted stock unit
Denominator (shares in thousands):
Anti-dilutive securities not included in the computations of diluted earnings per share (in shares)											1,377,992	210,558	88,194

SUPPLEMENTAL FINANCIAL INFORM_3

SUPPLEMENTAL FINANCIAL INFORMATION BY QUARTER (UNAUDITED) (Details) $ / shares in Units, shares in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019USD ($)item$ / sharesshares	Sep. 30, 2019USD ($)$ / sharesshares	Jun. 30, 2019USD ($)$ / sharesshares	Mar. 31, 2019USD ($)$ / sharesshares	Dec. 31, 2018USD ($)item$ / sharesshares	Sep. 30, 2018USD ($)$ / sharesshares	Jun. 30, 2018USD ($)$ / sharesshares	Mar. 31, 2018USD ($)$ / sharesshares	Dec. 31, 2019USD ($)item$ / sharesshares	Dec. 31, 2018USD ($)item$ / sharesshares	Dec. 31, 2017USD ($)item$ / sharesshares
Total revenues	$ 1,447,700,000	$ 1,316,800,000	$ 1,506,100,000	$ 1,200,400,000	$ 1,413,300,000	$ 1,221,400,000	$ 1,442,500,000	$ 1,383,600,000	$ 5,471,000,000	$ 5,460,800,000	$ 5,079,200,000
Operating income	43,400,000	20,800,000	105,500,000	(33,700,000)	87,300,000	(21,900,000)	89,700,000	109,900,000	136,000,000	265,000,000	102,000,000
Net earnings (loss)	$ (13,500,000)	$ (54,800,000)	$ 49,400,000	$ (130,200,000)	$ 170,600,000	$ (100,400,000)	$ 22,200,000	$ 17,700,000	$ (149,100,000)	$ 110,100,000	$ (487,200,000)
Basic earnings per share:
Basic earnings per share | $ / shares	$ (0.13)	$ (0.53)	$ 0.48	$ (1.25)	$ 1.65	$ (0.82)	$ 0.17	$ 0.14	$ (1.44)	$ 0.91	$ (3.80)
Diluted earnings per shares:
Diluted earnings per share | $ / shares	$ (0.13)	$ (0.53)	$ 0.17	$ (1.25)	$ 0.43	$ (0.82)	$ 0.17	$ 0.14	$ (1.44)	$ 0.41	$ (3.80)
Other disclosures
Basic (in thousands) | shares	103,850	103,850	103,845	103,783	103,514	123,126	128,039	128,046	103,832	120,621	128,246
Diluted (in thousands) | shares	103,850	103,850	135,528	103,783	135,450	123,126	128,105	128,046	103,832	130,105	128,246
Other income related to derivative assets and liabilities		$ (2,800,000)	$ (41,000,000)		$ (165,500,000)
Other expense related to derivative assets and liabilities	$ 9,600,000			$ 28,400,000		$ 54,100,000					$ 1,000,000
Impairment losses
Impairment of long-lived assets					$ 13,800,000				$ 84,300,000	$ 13,800,000	43,600,000
U.S.
Total revenues									4,023,200,000	4,013,200,000	3,723,500,000
Impairment losses
Impairment of long-lived assets	$ 84,300,000
Tangible asset impairment, number of theatres | item	40
Tangible asset impairment, number of screens | item	512
International markets
Total revenues									$ 1,447,800,000	$ 1,447,600,000	$ 1,355,700,000
Impairment losses
Tangible asset impairment, number of theatres | item	14
Tangible asset impairment, number of screens | item	148				118
Impairment Of LongLived Assets
Impairment losses
Tangible asset impairment, number of screens | item									512
Impairment Of LongLived Assets | U.S.
Impairment losses
Tangible asset impairment, number of theatres					13				13		12
Tangible asset impairment, number of screens | item					150				150		179
Impairment Of LongLived Assets | International markets
Impairment losses
Tangible asset impairment, number of theatres | item					15				14	15
Tangible asset impairment, number of screens | item									148	118

ACQUISITIONS (Details)

ACQUISITIONS (Details) $ / shares in Units, € in Millions, kr in Millions, $ in Millions	Mar. 28, 2017SEK (kr)	Mar. 28, 2017EUR (€)	Mar. 28, 2017USD ($)	Dec. 31, 2019USD ($)	Sep. 30, 2019USD ($)	Jun. 30, 2019USD ($)	Mar. 31, 2019USD ($)	Dec. 31, 2018USD ($)$ / shares	Sep. 30, 2018USD ($)	Jun. 30, 2018USD ($)	Mar. 31, 2018USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)$ / shares	Dec. 31, 2017USD ($)	Jun. 30, 2017$ / shares	Mar. 28, 2017EUR (€)	Mar. 28, 2017USD ($)
ACQUISITION
Purchase price, net of cash acquired												$ 11.8
Allocation of purchase price
Current portion				$ 20				$ 67				20	$ 67
Investments in equity method investees				239.1				$ 232.4				239.1	$ 232.4
Assets held for sale
Share Price | $ / shares								$ 6.86					$ 6.86		$ 7.42
Revenue				$ 1,447.7	$ 1,316.8	$ 1,506.1	$ 1,200.4	$ 1,413.3	$ 1,221.4	$ 1,442.5	$ 1,383.6	$ 5,471	$ 5,460.8	$ 5,079.2
Term Loan facility (EUR)
Allocation of purchase price
Indebtedness assumed																€ (156)	$ (169.5)
Nordic
ACQUISITION
Purchase price, net of cash acquired	kr 5,756													577.6
Allocation of purchase price
Cash											71.4
Restricted cash											5.9
Receivables											13.4
Other current assets											23.6
Property											133.2
Intangible assets											22.1
Goodwill											792.9
Deferred tax asset											0.9
Other long-term assets											75.2
Accounts payable											(30.2)
Accrued expenses and other liabilities											(36.1)
Deferred revenues and income											(41.2)
Capital lease and financing lease obligations											(10)
Deferred tax liability											(18.7)
Other long-term liabilities											(33.6)
Total estimated purchase price											654.9
Current portion											1.1
Unfavorable lease acquired											$ 20
Amortization period											9 years 3 months 18 days
Investments in equity method investees											$ 64.7
Nordic | Merger Acquisition And Transaction Costs Caption [Member]
Allocation of purchase price
Acquisition-related costs													$ 1.5	$ 10.1
Nordic | Term Loan Facility (SEK)
ACQUISITION
Purchase price, net of cash acquired			$ 654.9
Amount of interest rate swaps repaid	kr 13.5		1.6
Foreign Currency/USD exchange rate	0.11378															0.11378	0.11378
Allocation of purchase price
Indebtedness assumed	kr (1,269)										(144.4)
Nordic | Term Loan facility (EUR)
ACQUISITION
Amount of interest rate swaps repaid		€ 1	$ 1.1
Foreign Currency/USD exchange rate	1.0865															1.0865	1.0865
Allocation of purchase price
Indebtedness assumed											$ (169.5)						$ (144.4)

ACQUISTIONS - Intangible assets

ACQUISTIONS - Intangible assets (Details) - USD ($) $ in Millions	Mar. 28, 2017	Dec. 31, 2019	Dec. 31, 2018
Amortizable Intangible Assets:
Gross Carrying Amount		$ 52.5	$ 258.5
Nordic
Amortizable Intangible Assets:
Weighted Average Amortization Period	5 years 6 months
Gross Carrying Amount	$ 11.6
Unamortized Intangible Assets:
Trade names	$ 10.5	$ 10.5	10.7
Favorable leases
Amortizable Intangible Assets:
Gross Carrying Amount			$ 206
Favorable leases | Nordic
Amortizable Intangible Assets:
Weighted Average Amortization Period	7 years
Gross Carrying Amount	$ 3.5
Favorable sublease | Nordic
Amortizable Intangible Assets:
Weighted Average Amortization Period	4 years
Gross Carrying Amount	$ 1.1
Screen advertising agreement | Nordic
Amortizable Intangible Assets:
Weighted Average Amortization Period	5 years
Gross Carrying Amount	$ 6.6
Trade name agreement | Nordic
Amortizable Intangible Assets:
Weighted Average Amortization Period	4 years
Gross Carrying Amount	$ 0.4

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - USD ($) $ / shares in Units, $ in Millions	Feb. 26, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Subsequent Events
Subsequent Events
Decrease in declared dividend (in dollars per share)	$ 0.17
Historical dividend amount (in dollars per share)	$ 0.20
Decrease in declared dividends	$ 18
Class A common stock
Subsequent Events
Cash dividend declared (in dollars per share)		$ 0.20	$ 0.20	$ 0.20
Class A common stock | Subsequent Events
Subsequent Events
Cash dividend declared (in dollars per share)	$ 0.03
Class B common stock
Subsequent Events
Cash dividend declared (in dollars per share)		$ 0.20	$ 0.20	$ 0.20
Class B common stock | Subsequent Events
Subsequent Events
Cash dividend declared (in dollars per share)	$ 0.03

CONDENSED CONSOLIDATING FINAN_3

CONDENSED CONSOLIDATING FINANCIAL INFORMATION (Details)	12 Months Ended
	Dec. 31, 2019
AMCE
Ownership percentage	100.00%

CONDENSED CONSOLIDATING FINAN_4

CONDENSED CONSOLIDATING FINANCIAL INFORMATION - Statements of Operations (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Revenues
Revenue	$ 1,447.7	$ 1,316.8	$ 1,506.1	$ 1,200.4	$ 1,413.3	$ 1,221.4	$ 1,442.5	$ 1,383.6	$ 5,471	$ 5,460.8	$ 5,079.2
Operating costs and expenses
Operating expenses, excluding depreciation and amortization below									1,686.6	1,654.7	1,548
Rent									967.8	797.8	794.4
General and administrative:
Merger, acquisition and other costs									15.5	31.3	63
Other, excluding depreciation and amortization below									153	179.3	133.2
Depreciation and amortization									450	537.8	538.6
Impairment of long-lived assets					13.8				84.3	13.8	43.6
Operating costs and expenses									5,335	5,195.8	4,977.2
Operating income	43.4	20.8	105.5	(33.7)	87.3	(21.9)	89.7	109.9	136	265	102
Other expense (income):
Other expense (income)									13.4	(108.1)	(1.5)
Interest expense:
Corporate borrowings									292.8	262.3	231.6
Capital and financing lease obligations									7.6	38.5	42.4
Non-cash NCM exhibitor services agreement									40.4	41.5
Equity in (earnings) loss of non-consolidated entities									(30.6)	(86.7)	185.2
Investment income									(16)	(6.2)	(22.6)
Total other expense, net									307.6	141.3	435.1
Earnings (loss) before income taxes									(171.6)	123.7	(333.1)
Income tax provision (benefit)									(22.5)	13.6	154.1
Net earnings (loss)	$ (13.5)	$ (54.8)	$ 49.4	$ (130.2)	$ 170.6	$ (100.4)	$ 22.2	$ 17.7	(149.1)	110.1	(487.2)
Consolidating Adjustments
Other expense (income):
Equity in (earnings) loss of AMC Entertainment Inc.									534.2	28.2	427.4
Interest expense:
Corporate borrowings									(294)	(263.4)	(239)
Intercompany interest expense									(244.1)
Investment income									538.1	263.4	239
Total other expense, net									(534.2)	28.2	(427.4)
Earnings (loss) before income taxes									534.2	(28.2)	427.4
Net earnings (loss)									534.2	(28.2)	427.4
AMCE
General and administrative:
Other, excluding depreciation and amortization below											2
Operating costs and expenses											2
Operating income											(2)
Other expense (income):
Equity in (earnings) loss of AMC Entertainment Inc.									(382.9)	(14.5)	(472.5)
Other expense (income)									(5.2)	(110.5)
Interest expense:
Corporate borrowings									290.8	256.7	230.3
Investment income									(519.4)	(241.8)	(217.6)
Total other expense, net									149.1	(110.1)	485.2
Earnings (loss) before income taxes									(149.1)	110.1	(487.2)
Net earnings (loss)									(149.1)	110.1	(487.2)
Subsidiary Guarantors
Revenues
Revenue									4,023.3	4,013.2	3,723.5
Operating costs and expenses
Operating expenses, excluding depreciation and amortization below									1,215.5	1,162.2	1,100.6
Rent									708.2	584.4	594
General and administrative:
Merger, acquisition and other costs									6.5	16.8	58.3
Other, excluding depreciation and amortization below									86.4	112.5	82.7
Depreciation and amortization									340.4	384	404.2
Impairment of long-lived assets									76.6	8.1	43.6
Operating costs and expenses									3,938.9	3,781.4	3,684.7
Operating income									84.4	231.8	38.8
Other expense (income):
Equity in (earnings) loss of AMC Entertainment Inc.									(151.3)	(13.7)	45.1
Other expense (income)									18.5	1.7	(1.7)
Interest expense:
Corporate borrowings									293	263.1	239
Capital and financing lease obligations									2.3	17.2	20
Non-cash NCM exhibitor services agreement									40.4	41.5
Equity in (earnings) loss of non-consolidated entities									(29.1)	(81.5)	187.8
Investment income									(21)	(27.1)	(43)
Total other expense, net									455.4	201.2	357
Earnings (loss) before income taxes									(371)	30.6	(318.2)
Income tax provision (benefit)									11.9	16.1	154.3
Net earnings (loss)									(382.9)	14.5	(472.5)
Subsidiary Non-Guarantors
Revenues
Revenue									1,447.7	1,447.6	1,355.7
Operating costs and expenses
Operating expenses, excluding depreciation and amortization below									471.1	492.5	447.4
Rent									259.6	213.4	200.4
General and administrative:
Merger, acquisition and other costs									9	14.5	4.7
Other, excluding depreciation and amortization below									66.6	66.8	48.5
Depreciation and amortization									109.6	153.8	134.4
Impairment of long-lived assets									7.7	5.7
Operating costs and expenses									1,396.1	1,414.4	1,290.5
Operating income									51.6	33.2	65.2
Other expense (income):
Other expense (income)									0.1	0.7	0.2
Interest expense:
Corporate borrowings									3	5.9	1.3
Capital and financing lease obligations									5.3	21.3	22.4
Intercompany interest expense									244.1
Equity in (earnings) loss of non-consolidated entities									(1.5)	(5.2)	(2.6)
Investment income									(13.7)	(0.7)	(1)
Total other expense, net									237.3	22	20.3
Earnings (loss) before income taxes									(185.7)	11.2	44.9
Income tax provision (benefit)									(34.4)	(2.5)	(0.2)
Net earnings (loss)									(151.3)	13.7	45.1
Admissions
Revenues
Revenue									3,301.3	3,385	3,229.5
Operating costs and expenses
Operating costs and expenses									1,699.1	1,710.2	1,604.3
Admissions | Subsidiary Guarantors
Revenues
Revenue									2,388.2	2,441.5	2,330.9
Operating costs and expenses
Operating costs and expenses									1,311.5	1,323.1	1,224.7
Admissions | Subsidiary Non-Guarantors
Revenues
Revenue									913.1	943.5	898.6
Operating costs and expenses
Operating costs and expenses									387.6	387.1	379.6
Food and beverage
Revenues
Revenue									1,719.6	1,671.5	1,548.4
Operating costs and expenses
Operating costs and expenses									278.7	270.9	252.1
Food and beverage | Subsidiary Guarantors
Revenues
Revenue									1,348	1,321.3	1,220.1
Operating costs and expenses
Operating costs and expenses									193.8	190.3	176.6
Food and beverage | Subsidiary Non-Guarantors
Revenues
Revenue									371.6	350.2	328.3
Operating costs and expenses
Operating costs and expenses									84.9	80.6	75.5
Total other theatre
Revenues
Revenue									450.1	404.3	301.3
Total other theatre | Subsidiary Guarantors
Revenues
Revenue									287.1	250.4	172.5
Total other theatre | Subsidiary Non-Guarantors
Revenues
Revenue									$ 163	$ 153.9	$ 128.8

CONDENSED CONSOLIDATING FINAN_5

CONDENSED CONSOLIDATING FINANCIAL INFORMATION - Statements of Comprehensive Income (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Net earnings (loss)	$ (13.5)	$ (54.8)	$ 49.4	$ (130.2)	$ 170.6	$ (100.4)	$ 22.2	$ 17.7	$ (149.1)	$ 110.1	$ (487.2)
Unrealized foreign currency translation adjustment, net of tax									(16.5)	(127.7)	131.7
Realized loss on foreign currency transactions reclassified into other expense, net of tax									0.5	1
Pension and other benefit adjustments:
Net gain (loss) arising during the period, net of tax									(15.5)	4.2	(3)
Marketable securities:
Unrealized holding gains arising during the period, net of tax										0.2	0.7
Realized net gain reclassified into investment income, net of tax											(0.4)
Equity method investee's cash flow hedge:
Unrealized holding (loss) gain arising during the period									(0.1)	0.2
Realized net gain reclassified into equity in earnings of non-consolidated entities, net of tax										(2.2)	(0.9)
Other comprehensive income (loss):									(31.6)	(124.5)	128.1
Total comprehensive loss									(180.7)	(14.4)	(359.1)
Consolidating Adjustments
Net earnings (loss)									534.2	(28.2)	427.4
Equity in other comprehensive income (loss) of subsidiaries									14.4	223.6	(240.2)
Equity method investee's cash flow hedge:
Other comprehensive income (loss):									14.4	223.6	(240.2)
Total comprehensive loss									548.6	195.4	187.2
AMCE
Net earnings (loss)									(149.1)	110.1	(487.2)
Equity in other comprehensive income (loss) of subsidiaries									(31.6)	(124.5)	128.1
Equity method investee's cash flow hedge:
Other comprehensive income (loss):									(31.6)	(124.5)	128.1
Total comprehensive loss									(180.7)	(14.4)	(359.1)
Subsidiary Guarantors
Net earnings (loss)									(382.9)	14.5	(472.5)
Equity in other comprehensive income (loss) of subsidiaries									17.2	(99.1)	112.1
Unrealized foreign currency translation adjustment, net of tax									(44.1)	(30.7)	22
Realized loss on foreign currency transactions reclassified into other expense, net of tax									0.5	1
Pension and other benefit adjustments:
Net gain (loss) arising during the period, net of tax									(5.1)	6.3	(5.4)
Marketable securities:
Unrealized holding gains arising during the period, net of tax										0.2	0.7
Realized net gain reclassified into investment income, net of tax											(0.4)
Equity method investee's cash flow hedge:
Unrealized holding (loss) gain arising during the period									(0.1)
Realized net gain reclassified into equity in earnings of non-consolidated entities, net of tax										(2.2)	(0.9)
Other comprehensive income (loss):									(31.6)	(124.5)	128.1
Total comprehensive loss									(414.5)	(110)	(344.4)
Subsidiary Non-Guarantors
Net earnings (loss)									(151.3)	13.7	45.1
Unrealized foreign currency translation adjustment, net of tax									27.6	(97)	109.7
Pension and other benefit adjustments:
Net gain (loss) arising during the period, net of tax									(10.4)	(2.1)	2.4
Equity method investee's cash flow hedge:
Other comprehensive income (loss):									17.2	(99.1)	112.1
Total comprehensive loss									$ (134.1)	$ (85.4)	$ 157.2

CONDENSED CONSOLIDATING FINAN_6

CONDENSED CONSOLIDATING FINANCIAL INFORMATION - Balance Sheets (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018	Jan. 01, 2018	Dec. 31, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 265	$ 313.3		$ 310
Restricted cash	10.5	10.7		8.3
Receivables, net	254.2	259.5
Other current assets	143.4	197.8
Total current assets	673.1	781.3
Property, net	2,649.2	3,039.6
Operating lease right-of-use assets, net	4,796
Intangible assets, net	195.3	352.1
Goodwill	4,789.1	4,788.7		4,931.7
Deferred tax asset, net	70.1	28.6
Other long-term assets	503	505.5	$ 487
Total assets	13,675.8	9,495.8
Current liabilities:
Accounts payable	543.3	452.6
Accrued expenses and other liabilities	324.6	378.5
Deferred revenues and income	449.2	414.8	391
Current maturities of corporate borrowings, carrying value	20	15.2
Current maturities of finance lease liabilities	10.3
Current maturities of operating lease liabilities	585.8
Current maturities of capital and financing lease obligations	20	67
Total current liabilities	1,933.2	1,328.1
Corporate borrowings	4,733.4	4,707.8
Finance lease liabilities	89.6	493.2
Operating lease liabilities	4,913.8
Capital and financing lease obligations	89.6	493.2
Exhibitor services agreement	549.7	564	$ 583.8
Deferred tax liability, net	46	41.6
Other long-term liabilities	195.9	963.1
Total liabilities	12,461.6	8,097.8
Temporary equity		0.4
Total stockholders' equity	1,214.2	1,397.6		$ 2,112.4	$ 2,009.6
Total liabilities and stockholders' equity	13,675.8	9,495.8
Consolidating Adjustments
Current assets:
Receivables, net	(9.9)	(4.4)
Total current assets	(9.9)	(4.4)
Investment in equity of subsidiaries	(2,415.4)	(2,149.1)
Total assets	(2,425.3)	(2,153.5)
Current liabilities:
Accounts payable	(10)	(4.5)
Accrued expenses and other liabilities	0.1	0.1
Total current liabilities	(9.9)	(4.4)
Total liabilities	(9.9)	(4.4)
Total stockholders' equity	(2,415.4)	(2,149.1)
Total liabilities and stockholders' equity	(2,425.3)	(2,153.5)
AMCE
Current assets:
Cash and cash equivalents	0.3	0.3
Total current assets	0.3	0.3
Investment in equity of subsidiaries	452.6	719
Intercompany advances	5,488	5,362.3
Goodwill	(2.1)	(2.1)
Other long-term assets	47.4	59.8
Total assets	5,986.2	6,139.3
Current liabilities:
Accrued expenses and other liabilities	18.6	31.5
Current maturities of corporate borrowings, carrying value		13.8
Current maturities of capital and financing lease obligations	20
Total current liabilities	38.6	45.3
Corporate borrowings	4,733.4	4,696
Total liabilities	4,772	4,741.3
Temporary equity		0.4
Total stockholders' equity	1,214.2	1,397.6
Total liabilities and stockholders' equity	5,986.2	6,139.3
Subsidiary Guarantors
Current assets:
Cash and cash equivalents	94.9	177.8
Receivables, net	160.1	163
Other current assets	108.5	140.7
Total current assets	363.5	481.5
Investment in equity of subsidiaries	1,962.8	1,430.1
Property, net	1,969.3	2,152.3
Operating lease right-of-use assets, net	3,491.8
Intangible assets, net	130.6	225.6
Intercompany advances	(5,097.7)	(4,512.3)
Goodwill	3,074.7	3,074.7
Other long-term assets	328	316.2
Total assets	6,223	3,168.1
Current liabilities:
Accounts payable	382.8	327.2
Accrued expenses and other liabilities	184	197.5
Deferred revenues and income	348.9	314
Current maturities of corporate borrowings, carrying value		1.4
Current maturities of finance lease liabilities	5.3
Current maturities of operating lease liabilities	449.5
Current maturities of capital and financing lease obligations		38.6
Total current liabilities	1,370.5	878.7
Operating lease liabilities	3,666.8
Capital and financing lease obligations	13.9	194.3
Exhibitor services agreement	549.7	564
Deferred tax liability, net	26.8	17.7
Other long-term liabilities	142.7	794.4
Total liabilities	5,770.4	2,449.1
Total stockholders' equity	452.6	719
Total liabilities and stockholders' equity	6,223	3,168.1
Subsidiary Non-Guarantors
Current assets:
Cash and cash equivalents	169.8	135.2
Restricted cash	10.5	10.7
Receivables, net	104	100.9
Other current assets	34.9	57.1
Total current assets	319.2	303.9
Property, net	679.9	887.3
Operating lease right-of-use assets, net	1,304.2
Intangible assets, net	64.7	126.5
Intercompany advances	(390.3)	(850)
Goodwill	1,716.5	1,716.1
Deferred tax asset, net	70.1	28.6
Other long-term assets	127.6	129.5
Total assets	3,891.9	2,341.9
Current liabilities:
Accounts payable	170.5	129.9
Accrued expenses and other liabilities	121.9	149.4
Deferred revenues and income	100.3	100.8
Current maturities of finance lease liabilities	5
Current maturities of operating lease liabilities	136.3
Current maturities of capital and financing lease obligations		28.4
Total current liabilities	534	408.5
Corporate borrowings		11.8
Operating lease liabilities	1,247
Capital and financing lease obligations	75.7	298.9
Deferred tax liability, net	19.2	23.9
Other long-term liabilities	53.2	168.7
Total liabilities	1,929.1	911.8
Total stockholders' equity	1,962.8	1,430.1
Total liabilities and stockholders' equity	$ 3,891.9	$ 2,341.9

CONDENSED CONSOLIDATING FINAN_7

CONDENSED CONSOLIDATING FINANCIAL INFORMATION - Statements of Cash Flows (Details) kr in Millions, $ in Millions	Mar. 28, 2017SEK (kr)	Mar. 28, 2017USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Net change in operating activities:
Net cash provided by operating activities			$ 579	$ 523.2	$ 537.4
Cash flows from investing activities:
Capital expenditures			(518.1)	(576.3)	(626.8)
Acquisition of Nordic Cinemas Group, net of cash and restricted cash acquired			(11.8)
Proceeds from sale leaseback transaction				50.1	136.2
Proceeds (disbursements) from disposition of long-term assets					24.1
Proceeds from disposition of long-term assets			23.2	14.2	24.1
Investments in non-consolidated entities			(9.7)	(11.4)	(11.1)
Other, net			0.3	(2.1)	(2.3)
Net cash provided by (used in) investing activities			(516.1)	(317.2)	(959.3)
Cash flows from financing activities:
Proceeds from issuance of Senior Unsecured Convertible Notes				600
Repayments under revolving credit facilities			(12)	12.1
Repayments under Revolving Credit Facility					(12.6)
Call premiums paid for Senior Secured Notes due 2023 and Senior Subordinated Notes due 2022			(15.9)
Principal payment of Loan			(1.4)	(1.4)	(1.4)
Principal payments under term loan			(21.9)	(13.8)	(12.6)
Net proceeds from equity offering					616.8
Principal payments under capital and financing lease obligations			(10.9)	(71)	(70.7)
Cash used to pay for deferred financing costs			(11.9)	(15.5)	(33.6)
Cash used to pay dividends			(84.1)	(258.1)	(104.6)
Taxes paid for restricted unit withholdings			(1.3)	(1.7)	(6.5)
Retirement of Class B common stock				(423.6)
Purchase of treasury stock				(21.8)	(34)
Net cash provided by (used in) financing activities			(112.9)	(194.8)	492.3
Effect of exchange rate changes on cash and cash equivalents and restricted cash			1.5	(5.5)	17.7
Net increase (decrease) in cash and cash equivalents and restricted cash			(48.5)	5.7	88.1
Cash and cash equivalents, and restricted cash at beginning of period			324	318.3	230.2
Cash and cash equivalents, and restricted cash at end of period			275.5	324	318.3
NCM
Cash flows from investing activities:
Proceeds from disposition of NCM				162.5	89
Screenvision
Cash flows from investing activities:
Proceeds from disposition of NCM				45.8
Open Road Films
Cash flows from investing activities:
Proceeds from disposition of NCM					9.2
Nordic
Cash flows from investing activities:
Acquisition of Nordic Cinemas Group, net of cash and restricted cash acquired	kr (5,756)				(577.6)
Starplex Cinemas | NCM
Cash flows from investing activities:
Proceeds from disposition of NCM					89
AMCE
Net change in operating activities:
Net cash provided by operating activities			51.1	7.2	(10.2)
Cash flows from financing activities:
Repayments under Revolving Credit Facility					(12.6)
Call premiums paid for Senior Secured Notes due 2023 and Senior Subordinated Notes due 2022			(15.9)
Principal payments under term loan			(21.9)	(13.8)
Net proceeds from equity offering					616.8
Cash used to pay for deferred financing costs			(11.9)	(15.5)	(29.8)
Cash used to pay dividends			(84.1)	(258.1)	(104.6)
Taxes paid for restricted unit withholdings			(1.3)	(1.7)	(6.5)
Retirement of Class B common stock				(423.6)
Purchase of treasury stock				(21.8)	(34)
Change in intercompany advances			(16.1)	167.1	(616.7)
Net cash provided by (used in) financing activities			(72.5)	32.6	(48.5)
Effect of exchange rate changes on cash and cash equivalents and restricted cash			21.4	(40.6)	56.8
Net increase (decrease) in cash and cash equivalents and restricted cash				(0.8)	(1.9)
Cash and cash equivalents, and restricted cash at beginning of period			0.3	1.1	3
Cash and cash equivalents, and restricted cash at end of period			0.3	0.3	1.1
Subsidiary Guarantors
Net change in operating activities:
Net cash provided by operating activities			316.6	369.8	364.3
Cash flows from investing activities:
Capital expenditures			(369.4)	(395.5)	(543.8)
Acquisition of Nordic Cinemas Group, net of cash and restricted cash acquired			(11.8)
Proceeds from sale leaseback transaction				50.1	136.2
Proceeds (disbursements) from disposition of long-term assets					34.9
Proceeds from disposition of long-term assets			7.9	8.5
Investments in non-consolidated entities			(0.1)	(11.4)	(11.1)
Other, net			0.3	(3.6)	(2.1)
Net cash provided by (used in) investing activities			(373.1)	(143.6)	(942.6)
Cash flows from financing activities:
Principal payment of Loan			(1.4)	(1.4)	(1.4)
Principal payments under capital and financing lease obligations			(6.1)	(39.8)	(41.6)
Change in intercompany advances			(3.1)	(144.7)	662.1
Net cash provided by (used in) financing activities			(4.4)	(185.9)	619.1
Effect of exchange rate changes on cash and cash equivalents and restricted cash			(22)	41.6	(53.5)
Net increase (decrease) in cash and cash equivalents and restricted cash			(82.9)	81.9	(12.7)
Cash and cash equivalents, and restricted cash at beginning of period			177.8	95.9	108.6
Cash and cash equivalents, and restricted cash at end of period			94.9	177.8	95.9
Subsidiary Guarantors | NCM
Cash flows from investing activities:
Proceeds from disposition of NCM				162.5
Subsidiary Guarantors | Screenvision
Cash flows from investing activities:
Proceeds from disposition of NCM				45.8
Subsidiary Guarantors | Open Road Films
Cash flows from investing activities:
Proceeds from disposition of NCM					9.2
Subsidiary Guarantors | Nordic
Cash flows from investing activities:
Acquisition of Nordic Cinemas Group, net of cash and restricted cash acquired					(654.9)
Subsidiary Guarantors | Starplex Cinemas | NCM
Cash flows from investing activities:
Proceeds from disposition of NCM					89
Subsidiary Non-Guarantors
Net change in operating activities:
Net cash provided by operating activities			211.3	146.2	183.3
Cash flows from investing activities:
Capital expenditures			(148.7)	(180.8)	(83)
Proceeds (disbursements) from disposition of long-term assets					(10.8)
Proceeds from disposition of long-term assets			15.3	5.7
Investments in non-consolidated entities			(9.6)
Other, net				1.5	(0.2)
Net cash provided by (used in) investing activities			(143)	(173.6)	(16.7)
Cash flows from financing activities:
Repayments under revolving credit facilities			(12)	12.1
Principal payments under capital and financing lease obligations			(4.8)	(31.2)	(29.1)
Cash used to pay for deferred financing costs					(3.8)
Change in intercompany advances			19.2	(22.4)	(45.4)
Net cash provided by (used in) financing activities			(36)	(41.5)	(78.3)
Effect of exchange rate changes on cash and cash equivalents and restricted cash			2.1	(6.5)	14.4
Net increase (decrease) in cash and cash equivalents and restricted cash			34.4	(75.4)	102.7
Cash and cash equivalents, and restricted cash at beginning of period			145.9	221.3	118.6
Cash and cash equivalents, and restricted cash at end of period			180.3	145.9	221.3
Subsidiary Non-Guarantors | Nordic
Cash flows from investing activities:
Acquisition of Nordic Cinemas Group, net of cash and restricted cash acquired					77.3
Senior Secured Credit Facility Term-Loan Due 2026
Cash flows from financing activities:
Proceeds from issuance of Senior Unsecured Convertible Notes			1,990
Proceeds from issuance of Term Loan Due 2026			1,990
Senior Secured Credit Facility Term-Loan Due 2026 | AMCE
Cash flows from financing activities:
Proceeds from issuance of Senior Unsecured Convertible Notes			1,990
Senior Secured Credit Facility Term Loans Due 2022 And 2023
Cash flows from financing activities:
Principal payments under term loan			(1,338.5)
Senior Secured Credit Facility Term Loans Due 2022 And 2023 | AMCE
Cash flows from financing activities:
Principal payments under term loan			(1,338.5)
6.0% Senior Secured Notes due 2023
Cash flows from financing activities:
Payments of Senior Subordinated Notes			(230)
6.0% Senior Secured Notes due 2023 | AMCE
Cash flows from financing activities:
Payments of Senior Subordinated Notes			(230)
5.875% Senior Subordinated Notes due 2022
Cash flows from financing activities:
Payments of Senior Subordinated Notes			(375)
5.875% Senior Subordinated Notes due 2022 | AMCE
Cash flows from financing activities:
Payments of Senior Subordinated Notes			$ (375)
6.375% Senior Subordinated Notes due 2024
Cash flows from financing activities:
Proceeds from issuance of Senior Unsecured Convertible Notes				600
Proceeds from issuance of Term Loan Due 2026					327.8
Proceeds from issuance of Senior Subordinated Notes					327.8
6.375% Senior Subordinated Notes due 2024 | AMCE
Cash flows from financing activities:
Proceeds from issuance of Senior Unsecured Convertible Notes				$ 600
Proceeds from issuance of Term Loan Due 2026					327.8
6.125% Senior Subordinated Notes due 2027
Cash flows from financing activities:
Proceeds from issuance of Senior Subordinated Notes					475
Proceeds from issuance of bridge loan due 2017					350
6.125% Senior Subordinated Notes due 2027 | AMCE
Cash flows from financing activities:
Proceeds from issuance of Senior Subordinated Notes					475
Proceeds from issuance of bridge loan due 2017					350
Term Loan Facility (SEK)
Cash flows from financing activities:
Proceeds from issuance of bridge loan due 2017					(144.4)
Principal payments under term loan					(144.4)
Term Loan Facility (SEK) | Nordic
Cash flows from investing activities:
Acquisition of Nordic Cinemas Group, net of cash and restricted cash acquired		$ (654.9)
Term Loan Facility (SEK) | AMCE
Cash flows from financing activities:
Proceeds from issuance of bridge loan due 2017					(144.4)
Term Loan facility (EUR)
Cash flows from financing activities:
Proceeds from issuance of bridge loan due 2017					(169.5)
Principal payments under term loan					(169.5)
Term Loan facility (EUR) | AMCE
Cash flows from financing activities:
Proceeds from issuance of bridge loan due 2017					$ (169.5)