AMC Entertainment (AMC) 10-Q 6 Aug 20 2020 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2020	Aug. 03, 2020
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Jun. 30, 2020
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 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 Central Index Key	0001411579
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2
Amendment Flag	false
Class A common stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		57,549,593
Class B common stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		51,769,784

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Revenues
Revenues	$ 18.9	$ 1,506.1	$ 960.4	$ 2,706.5
Operating costs and expenses
Operating expense, excluding depreciation and amortization below	114.8	437.4	471.7	840.2
Rent	224.1	245.9	461.9	487.9
General and administrative:
Merger, acquisition and other costs	1.8	3.2	2	6.5
Other, excluding depreciation and amortization below	25.4	43.2	58.6	89.4
Depreciation and amortization	119.7	112	242.2	225
Impairment of long-lived assets, indefinite-lived intangible assets and goodwill			1,851.9
Operating costs and expenses	490.5	1,400.6	3,418.1	2,634.7
Operating income (loss)	(471.6)	105.5	(2,457.7)	71.8
Other expense (income):
Other expense (income):	(6.6)	(23.4)	20.3	6.4
Interest expense:
Corporate borrowings	79.6	74.2	150.9	145.5
Finance lease obligations	1.5	2.1	3.1	4.2
Non-cash NCM exhibitor services agreement	10.1	10.1	20	20.3
Equity in (earnings) loss of non-consolidated entities	12.4	(10.2)	15.3	(16.7)
Investment expense (income)	(1.3)	(2.1)	8.1	(18.2)
Total other expense, net	95.7	50.7	217.7	141.5
Earnings (loss) before income taxes	(567.3)	54.8	(2,675.4)	(69.7)
Income tax provision (benefit)	(6.1)	5.4	62.1	11.1
Net earnings (loss)	$ (561.2)	$ 49.4	$ (2,737.5)	$ (80.8)
Earnings (loss) per share:
Basic	$ (5.38)	$ 0.48	$ (26.25)	$ (0.78)
Diluted	$ (5.38)	$ 0.17	$ (26.25)	$ (0.78)
Average shares outstanding:
Basic (in thousands)	104,319	103,845	104,282	103,814
Diluted (in thousands)	104,319	135,528	104,282	103,814
Admissions
Revenues
Revenues	$ 0.9	$ 895.5	$ 568.9	$ 1,627
Operating costs and expenses
Operating costs and expenses	0.2	482.5	271.9	847.8
Food and beverage
Revenues
Revenues	0.4	492.5	288.5	861.3
Operating costs and expenses
Operating costs and expenses	4.5	76.4	57.9	137.9
Total other theatre
Revenues
Revenues	$ 17.6	$ 118.1	$ 103	$ 218.2

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Millions	3 Months Ended				6 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2020	Jun. 30, 2019
Comprehensive Loss:
Net earnings (loss)	$ (561.2)	$ (2,176.3)	$ 49.4	$ (130.2)	$ (2,737.5)	$ (80.8)
Unrealized foreign currency translation adjustments	55.4		(9.3)		(38.2)	(34.7)
Realized loss on foreign currency transactions reclassified into other expense			0.1			0.6
Pension adjustments:
Realized net loss reclassified into other expense, net of tax	0.6		0.1		0.7	0.1
Equity method investee's cash flow hedge:
Unrealized net holding loss arising during the period			(0.1)			(0.1)
Other comprehensive income (loss)	56	$ (93.5)	(9.2)	$ (24.9)	(37.5)	(34.1)
Total comprehensive income (loss)	$ (505.2)		$ 40.2		$ (2,775)	$ (114.9)

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 498	$ 265
Restricted cash	10.4	10.5
Receivables, net	70.7	254.2
Other current assets	100.6	143.4
Total current assets	679.7	673.1
Property, net	2,417.5	2,649.2
Operating lease right-of-use assets, net	4,555.3	4,796
Intangible assets, net	174.3	195.3
Goodwill	2,988.4	4,789.1
Deferred tax asset, net	0.6	70.1
Other long-term assets	455.8	503
Total assets	11,271.6	13,675.8
Current liabilities:
Accounts payable	436.1	543.3
Accrued expenses and other liabilities	257.5	324.6
Deferred revenues and income	406.1	449.2
Current maturities of corporate borrowings	20	20
Current maturities of finance lease liabilities	10	10.3
Current maturities of operating lease liabilities	581.5	585.8
Total current liabilities	1,711.2	1,933.2
Corporate borrowings	5,498	4,733.4
Finance lease liabilities	83.9	89.6
Operating lease liabilities	4,744.4	4,913.8
Exhibitor services agreement	546.3	549.7
Deferred tax liability, net	43.2	46
Other long-term liabilities	220	195.9
Total liabilities	12,847	12,461.6
Commitments and contingencies
Stockholders' equity:
Additional paid-in capital	2,007.3	2,001.9
Treasury stock (3,732,625 shares as of June 30, 2020 and December 31, 2019, at cost)	(56.4)	(56.4)
Accumulated other comprehensive loss	(63.6)	(26.1)
Accumulated deficit	(3,463.7)	(706.2)
Total stockholders' equity (deficit)	(1,575.4)	1,214.2
Total liabilities and stockholders' equity	11,271.6	13,675.8
Class A common stock
Stockholders' equity:
Common stock value	0.5	0.5
Total stockholders' equity (deficit)	0.5	0.5
Class B common stock
Stockholders' equity:
Common stock value	$ 0.5	$ 0.5

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2020	Dec. 31, 2019
Treasury stock, shares	3,732,625	3,732,625
Class A common stock
Common stock, par value (in dollars per share)	$ 0.01
Common stock, share authorized (in shares)	524,173,073
Common stock, shares issued (in shares)	56,282,218	55,812,702
Common stock, shares outstanding (in shares)	52,549,593	52,080,077
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

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Cash flows from operating activities:
Net loss	$ (2,737.5)	$ (80.8)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	242.2	225
Deferred income taxes	65.4	8.9
Impairment of long-lived assets, indefinite-lived intangible assets and goodwill	1,851.9
Amortization of net discount on corporate borrowings	6.6	5
Amortization of deferred charges to interest expense	8.4	7.8
Non-cash portion of stock-based compensation	6.4	9.4
Gain on dispositions	(2.4)	(16)
(Gain) loss on derivative asset and derivative liability	13.2	(12.6)
Loss on repayment of indebtedness		16.6
Equity in (earnings) loss from non-consolidated entities, net of distributions	29.6	(7.8)
Landlord contributions	24.9	64.8
Other non-cash rent	(1.5)	13.4
Deferred rent	(25.8)	(29.4)
Net periodic benefit cost	0.6	0.6
Change in assets and liabilities:
Receivables	177.3	32
Other assets	49.6	18.6
Accounts payable	(55)	(35.7)
Accrued expenses and other liabilities	(99.3)	(64)
Other, net	29.5	(2.2)
Net cash provided by (used in) operating activities	(415.9)	153.6
Cash flows from investing activities:
Capital expenditures	(126.7)	(229.9)
Acquisition of theatre assets		(11.8)
Proceeds from disposition of long-term assets	3.7	21.3
Investments in non-consolidated entities, net	(9.3)	(0.1)
Other, net	0.8	(0.8)
Net cash used in investing activities	(131.5)	(221.3)
Cash flows from financing activities:
Proceeds from issuance of Term Loan due 2026		1,990
Call premiums paid for Senior Secured Notes due 2023 and Senior Subordinated Notes due 2022		(15.9)
Proceeds from issuance of First Lien Notes due 2025	490
Borrowings (repayments) under revolving credit facilities	322.8	(12)
Scheduled principal payments under Term Loans	(10)	(11.9)
Principal payments under finance lease obligations	(2.3)	(6.1)
Cash used to pay for deferred financing costs	(9.3)	(11.2)
Cash used to pay dividends	(4.3)	(42.6)
Taxes paid for restricted unit withholdings	(1)	(1.3)
Net cash provided by (used in) financing activities	785.9	(54.5)
Effect of exchange rate changes on cash and cash equivalents and restricted cash	(5.6)	(0.6)
Net increase (decrease) in cash and cash equivalents and restricted cash	232.9	(122.8)
Cash and cash equivalents and restricted cash at beginning of period	275.5	324
Cash and cash equivalents and restricted cash at end of period	508.4	201.2
Cash paid during the period for:
Interest (including amounts capitalized of $0.5 million and $0.4 million)	105.7	146.2
Income taxes received, net	(8.7)	(2)
Schedule of non-cash activities:
Investment in NCM	4.1	1.3
Construction payables at period end	35.3	87.4
Senior Secured Credit Facility Term-Loan due 2022
Cash flows from financing activities:
Payment of principal Senior Secured Notes due 2023		375
Payments of Senior Subordinated Notes		(375)
Senior Secured Credit Facility Term Loans Due 2022 And 2023
Cash flows from financing activities:
Payment of principal Senior Secured Notes due 2023		1,338.5
Payments of Senior Subordinated Notes		(1,338.5)
6.0% Senior Secured Notes due 2023
Cash flows from financing activities:
Payment of principal Senior Secured Notes due 2023		230
Payments of Senior Subordinated Notes		(230)
5.875% Senior Subordinated Notes due 2022
Cash flows from financing activities:
Payment of principal Senior Secured Notes due 2023		375
Payments of Senior Subordinated Notes		$ (375)
First Lien Notes due 2025
Cash flows from financing activities:
Proceeds from issuance of First Lien Notes due 2025	$ 490

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
Interest, capitalized	$ 0.5	$ 0.4

BASIS OF PRESENTATION

BASIS OF PRESENTATION	6 Months Ended
	Jun. 30, 2020
BASIS OF PRESENTATION
BASIS OF PRESENTATION	NOTE 1—BASIS OF PRESENTATION ​ 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 June 30, 2020, Wanda owned approximately 49.63% of Holdings’ outstanding common stock and 74.72% 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 transactions. Temporarily Suspended Operations. As of or before March 17, 2020, the Company temporarily suspended all theatre operations in its U.S. markets and International markets in compliance with local, state, and federal governmental restrictions and recommendations on social gatherings to prevent the spread of COVID-19 and as a precaution to help ensure the health and safety of the Company’s guests and theatre staff. As a result of these temporarily suspended operations, the Company’s revenues and expenses for the three and six months ended June 30, 2020 are significantly lower than the revenues and expenses for the three and six months ended June 30, 2019. The theatre operations in the U.S. markets remained suspended for the entire second quarter of 2020. The Company resumed limited operations in the International markets in early June. As of June 30, 2020, the Company had resumed operations at 37 theatres in nine countries in the International markets and recorded attendance of 100,000 guests during the three months ended June 30, 2020. On July 23, 2020, the Company announced it is currently planning to reopen its U.S. movie theatres in mid to late August 2020. In International markets, as of the end of July 2020, the Company has already resumed operations in more than 130 theatres in all of the countries the Company serves in Europe and the Middle East. Liquidity. In response to the COVID-19 pandemic, the Company has taken and is continuing to take significant steps to preserve cash by eliminating non-essential costs, including reductions to executive compensation and elements of its fixed cost structure: ● Suspended non-essential operating expenditures, including marketing & promotional and travel and entertainment expenses; and where possible, for example: utilities, reduced essential operating expenditures to minimum levels necessary while theatres are closed. ● Terminated or deferred all non-essential capital expenditures to minimum levels necessary while theatres are closed. ● Implemented measures to reduce corporate-level employment costs, including full or partial furloughs of all corporate-level Company employees, including senior executives, with individual work load and salary reductions ranging from 20% to 100% ; cancellation of pending annual merit pay increases; and elimination or reduction of non-healthcare benefits. ● All domestic theatre-level crew members have been fully furloughed and theatre-level management has been reduced to the minimum level necessary to begin resumption of operations when permitted. Similar efforts to reduce theatre-level and corporate employment costs are being undertaken internationally consistent with applicable laws across the jurisdictions in which the Company operates. ● Working with the Company’s landlords, vendors, and other business partners to manage, defer, and/or abate the related rent expenses and operating expenses during the disruptions caused by the COVID-19 pandemic. ● Introduced an active cash management process, which, among other things, requires senior management approval of all outgoing payments. ● Since April 24, 2020, the Company has been prohibited from making dividend payments in accordance with the covenant suspension conditions in its Senior Secured Credit Agreement. The Company had also previously elected to decrease the dividend paid in the first quarter of 2020 by $0.17 per share when compared to the first quarter of 2019. The cash savings as a result of the prior decrease and current prohibition on making dividend payments was $38.3 million during the six months ended June 30, 2020 in comparison to the six months ended June 30, 2019. ● The Company is prohibited from making purchases under its recently authorized stock repurchase program in accordance with the covenant suspension conditions in its Senior Secured Credit Agreement. On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) was signed into law. The CARES Act provides opportunities for additional liquidity, loan guarantees, and other government programs to support companies affected by the COVID-19 pandemic and their employees. Based on the Company’s preliminary analysis of the CARES Act, the Company expects to recognize the following benefits: ● Approximately $17.4 million of cash tax refunds from overpayments and refundable alternative minimum tax credits with the filing of the Company’s 2019 federal tax return, amending 2018 state tax returns and filing 2019 state tax returns in which the Company expects a refund. ● Deferral of social security payroll tax matches that would otherwise be required in 2020. ● Receipt of a payroll tax credit in 2020 for expenses related to paying wages and health benefits to employees who are not working as a result of temporarily suspended operations and reduced receipts associated with COVID-19. ​ The Company intends to seek any available potential benefits under the CARES Act, including loans, investments or guarantees, and any other such current or future government programs for which the Company qualifies domestically and internationally, including those described above. The Company cannot predict the manner in which such benefits will be allocated or administered, and the Company cannot assure the reader that it will be able to access such benefits in a timely manner or at all. The Company believes its cash balance as of June 30, 2020, cash generated from operating activities, the proceeds from the issuance on July 31, 2020 of $300.0 million, prior to deducting discounts and cash premiums based on contract assumptions and estimates of $36 million, of new 10.5% Senior Secured Notes due 2026 (the “First Lien Notes due 2026”) and the closing of the exchange offer on July 31, 2020 (the “Exchange Offers”) (which allowed the Company to extend maturities on approximately $1.7 billion of debt to 2026, most of which was maturing in 2024 and 2025 previously, with interest due for the coming 12 to 18 months on the exchanged senior subordinated notes expected to be paid all or in part on an in-kind basis pursuant to the terms of the 10%/12% Cash/PIK Toggle Second Lien Subordinated Secured Notes due 2026 (the “Second Lien Notes due 2026”), thereby generating a further near-term cash savings for the Company of between approximately $120 million to $180 While the Company has used its best estimates based on currently available information, the Company cannot assure the reader that its assumptions used to estimate its liquidity requirements will be correct — — Use of Estimates. Principles of Consolidation. Accumulated other comprehensive loss. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pension and ​ ​ ​ ​ ​ Foreign ​ Other ​ ​ ​ (In millions) Currency Benefits Total Balance December 31, 2019 ​ $ (8.8) ​ $ (17.3) ​ $ (26.1) ​ Other comprehensive loss before reclassifications ​ (38.2) ​ — ​ (38.2) ​ Amounts reclassified from accumulated other comprehensive loss ​ — ​ 0.7 ​ 0.7 ​ Balance June 30, 2020 ​ $ (47.0) ​ $ (16.6) ​ $ (63.6) ​ ​ Accumulated depreciation and amortization. Other expense (income). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended (In millions) ​ June 30, 2020 ​ June 30, 2019 ​ June 30, 2020 ​ June 30, 2019 Derivative liability fair value adjustment for embedded conversion feature in the Convertible Notes due 2024 ​ $ — ​ $ (33.9) ​ $ (0.5) ​ $ (20.6) Derivative asset fair value adjustment for contingent call option related to the Class B common stock purchase and cancellation agreement ​ ​ (6.4) ​ ​ (7.1) ​ ​ 13.7 ​ ​ 8.0 Credit losses related to contingent lease guarantees ​ ​ 3.9 ​ ​ — ​ ​ 9.2 ​ ​ — International governmental assistance due to COVID-19 ​ ​ (4.4) ​ ​ — ​ ​ (4.4) ​ ​ — Loss on Pound sterling forward contract ​ ​ — ​ ​ 0.7 ​ ​ — ​ ​ 1.0 Foreign currency transactions losses ​ ​ (2.1) ​ ​ 0.1 ​ ​ (0.1) ​ ​ 0.6 Non-operating components of net periodic benefit cost ​ ​ 0.1 ​ ​ 0.4 ​ ​ 0.1 ​ ​ 0.5 Loss on repayment of indebtedness ​ ​ — ​ ​ 16.6 ​ ​ — ​ ​ 16.6 Financing fees related to modification of debt agreements ​ ​ 2.8 ​ ​ — ​ ​ 2.8 ​ ​ — Other ​ ​ (0.5) ​ ​ (0.2) ​ ​ (0.5) ​ ​ 0.3 Total other expense (income) ​ $ (6.6) ​ $ (23.4) ​ $ 20.3 ​ $ 6.4 ​ Impairments. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended ​ ​ June 30, ​ June 30, ​ June 30, ​ June 30, (In millions) 2020 2019 2020 2019 Impairment of long-lived assets ​ $ — ​ $ — ​ $ 91.3 ​ $ — Impairment of indefinite-lived intangible assets ​ ​ — ​ ​ — ​ ​ 8.3 ​ ​ — Impairment of definite-lived intangible assets ​ ​ — ​ ​ — ​ ​ 8.0 ​ ​ — Impairment of goodwill ​ ​ — ​ ​ — ​ ​ 1,744.3 ​ ​ — Investment expense ​ ​ — ​ ​ — ​ ​ 7.2 ​ ​ — Total impairment loss ​ $ — ​ $ — ​ $ 1,859.1 ​ $ — (1) See Note 4 — Goodwill for information regarding goodwill impairment. The Company evaluates definite-lived and indefinite-lived intangible assets for impairment annually or more frequently as specific events or circumstances dictate or changes in circumstances indicate that the carrying amount of the asset group may not be fully recoverable. During the three and six months ended June 30, 2020, the Company recorded non-cash impairment of long-lived assets of $0 and $81.4 million on 57 theatres in the U.S. markets with 658 screens (in Alabama, Arkansas, California, District of Columbia, Florida, Georgia, Illinois, Indiana, Iowa, Kentucky, Michigan, Minnesota, Missouri, Montana, New Hampshire, New Jersey, New York, North Carolina, North Dakota, Ohio, Pennsylvania, South Dakota, Tennessee, Texas, Washington, Wisconsin and Wyoming), respectively, and $0 and $9.9 million on 23 theatres in the International markets with 213 screens (in Germany, Italy, Spain, UK and Sweden), respectively. During the three and six months ended June 30, 2020, the Company recorded impairment losses related to definite-lived intangible assets of $0 and $8.0 million, respectively. In addition, in the three and six months ended June 30, 2020, the Company recorded an impairment loss of $0 and $7.2 million, respectively within investment expense (income), related to equity interest investments without a readily determinable fair value accounted for under the cost method. At March 31, 2020, the Company performed a quantitative impairment evaluation of its indefinite-lived intangible assets related to the AMC, Odeon and Nordic tradenames. The Company recorded impairment charges of $0 and $5.9 million related to Odeon tradenames and $0 and $2.4 million related to Nordic tradenames for the three and six months ended June 30, 2020, respectively. To estimate fair value of the Company’s indefinite-lived trade names, the Company employed a derivation of the Income Approach known as the Royalty Savings. Accounting Pronouncements Recently Adopted Financial Instruments. In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 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 impacts how the Company determines its allowance for estimated uncollectible receivables and also contingent lease guarantees, where 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. ASU 2016-13 was effective for the Company in the first quarter of 2020. The Company recognized the cumulative effect upon adoption of the new standard related to credit losses for contingent lease guarantees of 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 are no longer required to disclose the amount of and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy, but are required to disclose the range and weighted average used to develop significant observable inputs for Level 3 fair value measurements. The fair value measurement disclosure requirements of ASU 2018-13 was effective for the Company in the first quarter of 2020. See Note 9—Fair Value Measurements for the required disclosures for Level 3 fair value measurements. Cloud Computing Arrangement. 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”). ASU 2018-15 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 which implementation, setup, and other upfront costs to capitalize as assets or expense as incurred. ASU 2018-15 was effective for the Company in the first quarter of 2020. 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 adopted ASU 2018-15 prospectively and the adoption of ASU 2018-15 did not have a material impact on the Company’s consolidated financial statements and related disclosures. Accounting Pronouncements Issued Not Yet Adopted Income Taxes. In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740) Simplifying the Accounting for Income Taxes (“ASU 2019-12”), which is intended to improve consistency and simplify several areas of existing guidance. ASU 2019-12 removes certain exceptions to the general principles related to the approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. The new guidance also clarifies the accounting for transactions that result in a step-up in the tax basis for goodwill. ASU 2019-12 is effective for the Company in the first quarter of 2021. Early adoption is permitted. The Company is currently evaluating the effect that ASU 2019-12 will have on its consolidated financial statements.

LEASES

LEASES	6 Months Ended
	Jun. 30, 2020
LEASES
LEASES	NOTE 2—LEASES ​ The Company leases theatres and equipment under operating and finance leases. The Company typically does not believe that exercise of the renewal options is reasonably certain at the lease commencement and, therefore, considers the initial base term as the lease term. Lease terms vary but generally the leases provide for fixed and escalating rentals, contingent escalating rentals based on the Consumer Price Index and other indexes not to exceed certain specified amounts and variable rentals based on a percentage of revenues. The Company often receives contributions from landlords for renovations at existing locations. The Company records the amounts received from landlords as an adjustment to the right-of-use asset and amortizes the balance as a reduction to rent expense over the base term of the lease agreement. Equipment leases primarily consist of digital projectors and food and beverage equipment. The Company received, or is in process of negotiating, rent concessions provided by the lessors that aided, or will aid, in mitigating the economic effects of COVID-19. These concessions primarily consist of rent abatements and the deferral of rent payments. In instances where there were no substantive changes to the lease terms, i.e., modifications that resulted in total payments of the modified lease being substantially the same or less than the total payments of the existing lease, the Company elected the relief as provided by the FASB staff related to the accounting for certain lease concessions. The Company elected not to account for these concessions as a lease modification, and therefore the Company has remeasured the related lease liability and right of use asset but did not reassess the lease classification or change the discount rate to the current rate in effect upon the remeasurement. The deferred payment amounts have been recorded in the Company’s lease liabilities to reflect the change in the timing of payments. As of June 30, 2020, approximately $6.4 million of lease liabilities were deferred and included in current maturities of operating lease liabilities and approximately $9.7 million of lease liabilities were deferred and included in long-term operating lease liabilities, which are reflected in the condensed consolidated statements of cash flows as part of the change in accrued expenses and other liabilities. Those leases that did not meet the criteria for treatment under the FASB relief were evaluated as lease modifications. The Company recorded $194.8 million in accounts payable for contractual rent amounts due and not paid, which is reflected in the statement of cash flows as part of the change in accounts payable. The Company is in the process of negotiating or finalizing rent concessions or deferral of payments with the lessors with respect to these rent payables. The following table reflects the lease costs for the three and six months ended June 30, 2020 and June 30, 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended ​ ​ Consolidated Statement ​ June 30, ​ June 30, ​ June 30, ​ June 30, (In millions) ​ of Operations ​ 2020 ​ 2019 ​ 2020 ​ 2019 Operating lease cost ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Theatre properties ​ Rent ​ $ 203.9 ​ $ 220.7 ​ $ 420.8 ​ $ 439.6 Theatre properties ​ Operating expense ​ ​ 0.1 ​ ​ 1.2 ​ ​ 2.3 ​ ​ 2.9 Equipment ​ Operating expense ​ ​ 3.8 ​ ​ 3.5 ​ ​ 7.7 ​ ​ 7.0 Office and other ​ General and administrative: other ​ ​ 1.3 ​ ​ 1.4 ​ ​ 2.6 ​ ​ 2.7 Finance lease cost ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amortization of finance lease assets ​ Depreciation and amortization ​ ​ 1.7 ​ ​ 2.5 ​ ​ 3.6 ​ ​ 5.2 Interest expense on lease liabilities ​ Finance lease obligations ​ ​ 1.5 ​ ​ 2.1 ​ ​ 3.1 ​ ​ 4.2 Variable lease cost ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Theatre properties ​ Rent ​ ​ 20.2 ​ ​ 25.2 ​ ​ 41.1 ​ ​ 48.3 Equipment ​ Operating expense ​ ​ (0.5) ​ ​ 19.1 ​ ​ 6.5 ​ ​ 29.8 Total lease cost ​ ​ ​ $ 232.0 ​ $ 275.7 ​ $ 487.7 ​ $ 539.7 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six Months Ended (In millions) ​ 2020 ​ 2019 Cash paid for amounts included in the measurement of lease liabilities: ​ ​ ​ ​ ​ ​ Operating cash flows used in finance leases ​ $ (3.1) ​ $ (4.2) Operating cash flows used in operating leases ​ ​ (249.8) ​ ​ (468.2) Financing cash flows used in finance leases ​ ​ (2.3) ​ ​ (6.1) ​ ​ ​ ​ ​ ​ ​ Landlord contributions: ​ ​ ​ ​ ​ ​ Operating cashflows provided by operating leases ​ ​ 24.9 ​ ​ 64.8 Supplemental disclosure of noncash leasing activities: ​ ​ ​ ​ ​ ​ Right-of-use assets obtained in exchange for new operating lease liabilities ​ ​ 133.7 ​ ​ 115.5 (1) Includes lease extensions and option exercises. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of June 30, 2020 ​ ​ Weighted Average ​ Weighted Average ​ ​ Remaining ​ Discount Lease Term and Discount Rate ​ Lease Term (years) ​ Rate Operating leases ​ ​ 9.9 ​ ​ 7.5% Finance leases ​ ​ 12.8 ​ ​ 6.5% ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating Lease ​ Financing Lease (In millions) ​ Payments ​ Payments Six months ending December 31, 2020 ​ $ 470.0 ​ $ 7.7 2021 ​ ​ 931.8 ​ ​ 16.1 2022 ​ ​ 866.2 ​ ​ 15.6 2023 ​ ​ 771.6 ​ ​ 11.7 2024 ​ ​ 694.9 ​ ​ 9.9 2025 ​ ​ 645.4 ​ ​ 9.3 Thereafter ​ ​ 3,185.3 ​ ​ 68.6 Total lease payments ​ ​ 7,565.2 ​ ​ 138.9 Less imputed interest ​ ​ (2,239.3) ​ ​ (45.0) Total ​ $ 5,325.9 ​ $ 93.9 ​ As of June 30, 2020, the Company had signed additional operating lease agreements for 9 theatres that have not yet commenced of approximately $198.3 million, which are expected to commence between 2020 and 2024, and carry lease terms of approximately 5 to 25 years. The timing of lease commencement is dependent on the landlord providing the Company with control and access to the related facility. ​

REVENUE RECOGNITION

REVENUE RECOGNITION	6 Months Ended
	Jun. 30, 2020
REVENUE RECOGNITION
REVENUE RECOGNITION	NOTE 3—REVENUE RECOGNITION ​ Disaggregation of Revenue. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended (In millions) ​ June 30, 2020 ​ June 30, 2019 ​ June 30, 2020 ​ June 30, 2019 Major revenue types ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Admissions ​ $ 0.9 ​ $ 895.5 ​ $ 568.9 ​ $ 1,627.0 Food and beverage ​ ​ 0.4 ​ ​ 492.5 ​ ​ 288.5 ​ ​ 861.3 Other theatre: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Advertising ​ ​ 14.3 ​ ​ 35.7 ​ ​ 44.0 ​ ​ 70.2 Other theatre ​ ​ 3.3 ​ ​ 82.4 ​ ​ 59.0 ​ ​ 148.0 Other theatre ​ ​ 17.6 ​ ​ 118.1 ​ ​ 103.0 ​ ​ 218.2 Total revenues ​ $ 18.9 ​ $ 1,506.1 ​ $ 960.4 ​ $ 2,706.5 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended (In millions) ​ June 30, 2020 ​ June 30, 2019 ​ June 30, 2020 ​ June 30, 2019 Timing of revenue recognition ​ ​ ​ ​ ​ ​ ​ ​ Products and services transferred at a point in time ​ $ 3.6 ​ $ 1,410.2 ​ $ 855.4 ​ $ 2,520.2 Products and services transferred over time ​ ​ 15.3 ​ ​ 95.9 ​ ​ 105.0 ​ ​ 186.3 Total revenues ​ $ 18.9 ​ $ 1,506.1 ​ $ 960.4 ​ $ 2,706.5 (1) ​ ​ The following tables provide the balances of receivables and deferred revenue income: ​ ​ ​ ​ ​ ​ ​ ​ (In millions) ​ June 30, 2020 ​ December 31, 2019 Current assets: ​ ​ ​ ​ ​ ​ Receivables related to contracts with customers ​ $ 12.6 ​ $ 160.3 Miscellaneous receivables ​ ​ 58.1 ​ ​ 93.9 Receivables, net ​ $ 70.7 ​ $ 254.2 ​ ​ ​ ​ ​ ​ ​ ​ ​ (In millions) ​ June 30, 2020 ​ December 31, 2019 Current liabilities: ​ ​ ​ ​ ​ ​ Deferred revenue related to contracts with customers ​ $ 401.0 ​ $ 447.1 Miscellaneous deferred income ​ ​ 5.1 ​ ​ 2.1 Deferred revenue and income ​ $ 406.1 ​ $ 449.2 ​ ​ 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 Balance December 31, 2019 ​ $ 447.1 Cash received in advance ​ ​ 74.4 Customer loyalty rewards accumulated, net of expirations: ​ ​ ​ Admission revenues ​ ​ 4.8 Food and beverage ​ ​ 12.5 Other theatre ​ ​ (0.2) Reclassification to revenue as the result of performance obligations satisfied: ​ ​ ​ Admission revenues ​ ​ (88.3) Food and beverage ​ ​ (25.1) Other theatre ​ ​ (22.2) Foreign currency translation adjustment ​ ​ (2.0) Balance June 30, 2020 ​ $ 401.0 ​ (1) ® ​ (2) ® ​ (3) ® ​ (4) ® ​ The Company suspended the recognition of deferred revenues related to certain loyalty programs, gift cards, and exchange tickets during the period in which its operations are temporarily suspended. The significant changes to contract liabilities included in the exhibitor services agreement, classified as long-term liabilities in the condensed consolidated balance sheets, are as follows: ​ ​ ​ ​ ​ ​ ​ Exhibitor Services (In millions) ​ Agreement Balance December 31, 2019 $ 549.7 Common Unit Adjustment–additions of common units (1) ​ ​ 4.8 Reclassification of the beginning balance to other theatre revenue, as the result of performance obligations satisfied ​ ​ (8.2) Balance June 30, 2020 $ 546.3 (1) ​ Gift cards and exchange tickets. Loyalty programs. ® 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.

GOODWILL

GOODWILL	6 Months Ended
	Jun. 30, 2020
GOODWILL.
GOODWILL	NOTE 4—GOODWILL ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (In millions) Domestic Theatres International Theatres ​ Total Balance December 31, 2019 ​ $ 3,072.6 ​ $ 1,716.5 ​ $ 4,789.1 Impairment adjustment ​ ​ (1,124.9) ​ ​ (619.4) ​ ​ (1,744.3) Currency translation adjustment ​ ​ — ​ ​ (56.4) ​ ​ (56.4) Balance June 30, 2020 ​ $ 1,947.7 ​ $ 1,040.7 ​ $ 2,988.4 ​ 2020. — million was recorded as of March 31, 2020 for the Company’s Domestic Theatres and International Theatres reporting units, respectively.

INVESTMENTS

INVESTMENTS	6 Months Ended
	Jun. 30, 2020
INVESTMENTS
INVESTMENTS	NOTE 5—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 condensed consolidated balance sheets in other long-term assets. Investments in non-consolidated affiliates as of June 30, 2020 include interests in Digital Cinema Implementation Partners, LLC (“DCIP”) of 29.0%, Digital Cinema Distribution Coalition, LLC (“DCDC”) of 14.6%, AC JV, LLC (“AC JV”) owner of Fathom Events, of 32.0%, SV Holdco LLC (“SV Holdco”), owner of Screenvision, 18.3%, Digital Cinema Media Ltd. (“DCM”) of 50.0%, and Saudi Cinema Company LLC (“SCC”) of 10.0%. The Company also has partnership interests in four U.S. motion picture theatres (“Theatre Partnerships”) and approximately 50.0% interest in 55 theatres in Europe. Indebtedness held by equity method investees is non-recourse to the Company. Equity in Earnings (Loss) of Non-Consolidated Entities ​ Aggregated condensed financial information of the Company’s significant non-consolidated equity method investment (DCIP) is shown below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended (In millions) June 30, 2020 June 30, 2019 June 30, 2020 June 30, 2019 Revenues $ (6.4) $ 48.0 $ 19.7 $ 85.7 Operating costs and expenses ​ ​ 31.6 ​ ​ 19.5 ​ ​ 68.8 ​ ​ 38.7 Net earnings (loss) $ (38.0) $ 28.5 $ (49.1) $ 47.0 ​ The components of the Company’s recorded equity in earnings (loss) of non-consolidated entities are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended (In millions) June 30, 2020 June 30, 2019 June 30, 2020 June 30, 2019 DCIP ​ $ (9.7) ​ $ 9.0 ​ $ (11.6) ​ $ 14.6 Other ​ (2.7) ​ 1.2 ​ (3.7) ​ 2.1 The Company’s recorded equity in earnings (loss) ​ $ (12.4) ​ $ 10.2 ​ $ (15.3) ​ $ 16.7 ​ Related Party Transactions ​ The Company recorded the following related party transactions with equity method investees: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of As of (In millions) ​ June 30, 2020 December 31, 2019 Due from DCM for on-screen advertising revenue ​ $ — ​ $ 4.2 Loan receivable from DCM ​ ​ 0.7 ​ ​ 0.7 Due from DCIP for warranty expenditures ​ ​ — ​ ​ 3.5 Due to AC JV for Fathom Events programming ​ ​ (1.0) ​ ​ (0.8) Due from Screenvision for on-screen advertising revenue ​ ​ — ​ ​ 3.4 Due from Nordic JVs ​ ​ 2.3 ​ ​ 2.5 Due to Nordic JVs for management services ​ ​ (2.0) ​ ​ (1.6) Due from SCC related to the joint venture ​ ​ 0.4 ​ ​ 8.3 Due to U.S. theatre partnerships ​ ​ (0.6) ​ ​ (1.0) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended (In millions) ​ Condensed Consolidated Statement of Operations ​ June 30, 2020 June 30, 2019 ​ June 30, 2020 June 30, 2019 DCM screen advertising revenues ​ Other revenues ​ $ — ​ $ 5.3 ​ $ 3.6 ​ $ 9.2 DCIP equipment rental expense ​ Operating expense ​ ​ (0.4) ​ ​ 0.8 ​ ​ 0.9 ​ ​ 1.9 Gross exhibition cost on AC JV Fathom Events programming ​ Film exhibition costs ​ — ​ ​ 2.8 ​ 3.2 ​ ​ 10.1 Screenvision screen advertising revenues ​ Other revenues ​ ​ — ​ ​ 4.2 ​ ​ 2.1 ​ ​ 7.7 ​

CORPORATE BORROWINGS

CORPORATE BORROWINGS	6 Months Ended
	Jun. 30, 2020
CORPORATE BORROWINGS
CORPORATE BORROWINGS	NOTE 6—CORPORATE BORROWINGS ​ ​ ​ ​ ​ ​ ​ ​ ​ (In millions) June 30, 2020 December 31, 2019 Senior Secured Credit Facility-Term Loan due 2026 (4.08% as of June 30, 2020) ​ $ 1,975.0 ​ $ 1,985.0 Revolving Credit Facility Due 2024 (range of 2.36% to 2.87% as of June 30, 2020) ​ ​ 213.2 ​ ​ — 10.5% First Lien Notes due 2025 ​ ​ 500.0 ​ ​ — Odeon Revolving Credit Facility Due 2022 (3.17% as of June 30, 2020) ​ ​ 84.4 ​ ​ — Odeon Revolving Credit Facility Due 2022 (2.6% as of June 30, 2020) ​ ​ 24.4 ​ ​ — 2.95% Senior Unsecured Convertible Notes due 2024 ​ ​ 600.0 ​ ​ 600.0 6.375% Senior Subordinated Notes due 2024 (£500 million par value) ​ ​ 614.4 ​ ​ 655.8 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 ​ ​ $ 5,681.4 ​ $ 4,910.8 Finance lease obligations ​ 93.9 ​ 99.9 Debt issuance costs ​ ​ (90.0) ​ ​ (88.8) Net discounts ​ ​ (73.4) ​ ​ (69.1) Derivative liability ​ ​ — ​ ​ 0.5 ​ ​ $ 5,611.9 ​ $ 4,853.3 Less: ​ ​ ​ ​ ​ ​ Current maturities corporate borrowings ​ ​ (20.0) ​ (20.0) Current maturities finance lease obligations ​ ​ (10.0) ​ ​ (10.3) ​ ​ $ 5,581.9 ​ $ 4,823.0 ​ ​ ​ ​ ​ ​ ​ ​ ​ Principal ​ ​ Amount of ​ ​ Corporate (In millions) Borrowings Six months ended December 31, 2020 ​ $ 10.0 2021 ​ ​ 20.0 2022 ​ 128.8 2023 ​ 20.0 2024 ​ 1,447.6 2025 ​ 1,120.0 Thereafter ​ 2,935.0 Total ​ $ 5,681.4 ​ Senior Secured Credit Facility will not permit any of its restricted subsidiaries to, make certain restricted payments and shall maintain Liquidity (as defined in the Senior Secured Credit Facility Amendment) of no less than $50.0 million on the last day of each Test Period. In addition, the Senior Secured Credit Facility Amendment provides for certain changes to the covenants limiting indebtedness, liens and restricted payments that are intended to match corresponding restrictions under the 10.5% first lien notes due 2025 (the “First Lien Notes due 2025”) and to ensure that the terms and conditions of the First Lien Notes due 2025 (subject to certain exceptions) are not materially more favorable (when taken as a whole) to the noteholders than the terms and conditions of the Senior Secured Credit Facility Agreement (when taken as a whole) are to the lenders. Pursuant to the terms of the Senior Secured Credit Facility Agreement, these more restrictive terms will be operative until the repayment, satisfaction, defeasance or other discharge of the obligations under the First Lien Notes due 2025 or an effective amendment of, other consent or waiver with respect to, or covenant defeasance pursuant to the Indenture as result of which the covenants limiting indebtedness, liens and restricted payments thereunder are of no further force or effect. Odeon Revolving Credit Facility First Lien Notes due 2025 aggregate principal amount and accrued and unpaid interest to, but not including, the date of redemption. Senior Unsecured Convertible Notes due 2024 ​ The table below sets forth the carrying value of the Senior Unsecured Convertible Notes due 2024: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Carrying Value ​ Increase ​ Carrying Value ​ ​ as of ​ to Expense ​ as of (In millions) ​ December 31, 2019 ​ (Income) ​ June 30, 2020 Principal balance ​ $ 600.0 ​ $ — ​ $ 600.0 Discount ​ ​ (73.7) ​ ​ 6.8 ​ ​ (66.9) Debt issuance costs ​ ​ (11.2) ​ ​ 0.9 ​ ​ (10.3) Derivative liability ​ ​ 0.5 ​ ​ (0.5) ​ ​ — Carrying value ​ $ 515.6 ​ $ 7.2 ​ $ 522.8 ​ 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. On April 24, 2020, the Company entered into a supplemental indenture (the “Supplemental Indenture”) to the Convertible Notes due 2024 indenture, dated as of September 14, 2018. The Supplemental Indenture amended the debt covenant under the Convertible Notes Indenture to permit the Company to issue the First Lien Notes due 2025, among other changes. 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 condensed 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 three months ended June 30, 2020 and June 30, 2019 of $8.3 million and $8.0 million, respectively, and interest expense for the six months ended June 30, 2020 and June 30, 2019 of $16.6 million and $16.0 million, respectively. The derivative liability is remeasured at fair value each reporting period with changes in fair value recorded in the condensed consolidated statements of operations as other expense or income. See Note 9 — Upon conversion by a holder of the Convertible Notes due 2024, 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 June 30, 2020, 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 7 — — The Company has the option to redeem the Convertible Notes due 2024 for cash on or after the fifth anniversary of issuance at par if the price for the Company’s Class A common stock is equal to or greater than 150% of the then applicable conversion price for 20 or more trading days out of a consecutive 30 day trading period (including the final three trading days), at which time the holders have the option to convert. The Company also has the option to redeem the Convertible Notes due 2024, between the second and third anniversary of issuance, if the reset provision described above is triggered at a redemption price in cash that would result in the noteholders realizing a 15% internal rate of return from the date of issuance regardless of when any particular noteholder acquired its Convertible Notes due 2024. With certain exceptions, upon a change of control of the Company or if the Company’s Class A common stock is not listed for trading on The New York Stock Exchange, The NASDAQ Global Select Market or The NASDAQ Global Market, the holders of the Convertible Notes due 2024 may require that the Company repurchase in cash all or part of the principal amount of the Convertible Notes due 2024 at a purchase price equal to the principal amount plus accrued and unpaid interest up to, but excluding, the date of repurchase. The Indenture includes restrictive covenants that, subject to specified exceptions and parameters, limit the ability of the Company to incur additional debt and limit the ability of the Company to incur liens with respect to the Company’s senior subordinated notes or any debt incurred to refinance the Company’s senior subordinated notes. The Indenture also includes customary events of default, which may result in the acceleration of the maturity of the Convertible Notes due 2024 under the Indenture.

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	6 Months Ended
	Jun. 30, 2020
STOCKHOLDERS' EQUITY
STOCKHOLDERS' EQUITY	NOTE 7—STOCKHOLDERS’ EQUITY ​ Dividends ​ The following is a summary of dividends and dividend equivalents declared to stockholders during the three and six months ended June 30, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amount per ​ Total Amount ​ ​ ​ Share of Declared Declaration Date ​ Record Date ​ Date Paid ​ Common Stock ​ (In millions) February 26, 2020 ​ March 9, 2020 ​ March 23, 2020 ​ $ 0.03 ​ $ 3.2 ​ Related Party Transactions ​ As of June 30, 2020 and December 31, 2019, the Company recorded a receivable due from Wanda of $0.5 million and $0.8 million, respectively, for reimbursement of general administrative and other expense incurred on behalf of Wanda. For the three months ended June 30, 2020 and June 30, 2019, the Company recorded approximately $0.1 million in both periods of cost reductions for general and administrative services provided on behalf of Wanda. For the six months ended June 30, 2020 and June 30, 2019, the Company recorded approximately $0.2 million in both periods, of cost reductions for general and administrative services provided on behalf of Wanda. 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 6 — On September 14, 2018, the Company, Silver Lake and Wanda entered into a Right of First Refusal Agreement (the “ ROFR Agreement three — ​ ​ ​ ​ Condensed Consolidated Statements of Stockholders’ Equity For the Six Months Ended June 30, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accumulated ​ ​ ​ ​ ​ ​ ​ ​ Class A Voting ​ Class B Voting ​ Additional ​ ​ ​ ​ ​ ​ Other ​ Accumulated ​ Total ​ ​ Common Stock ​ Common Stock ​ Paid-in ​ Treasury Stock ​ Comprehensive ​ Earnings ​ Stockholders’ (In millions, except share and per share data) Shares Amount Shares Amount Capital ​ Shares Amount Income (Loss) (Deficit) Equity (Deficit) Balances December 31, 2019 ​ 52,080,077 ​ $ 0.5 ​ 51,769,784 ​ $ 0.5 ​ $ 2,001.9 ​ 3,732,625 ​ $ (56.4) ​ $ (26.1) ​ $ (706.2) ​ $ 1,214.2 Cumulative effect adjustment for the adoption of new accounting principle (ASU 2016-13) ​ — ​ ​ — ​ — ​ ​ — ​ ​ — ​ — ​ ​ — ​ ​ — ​ ​ (16.9) ​ ​ (16.9) Net loss ​ — ​ ​ — ​ — ​ ​ — ​ ​ — ​ — ​ ​ — ​ ​ — ​ ​ (2,176.3) ​ ​ (2,176.3) Other comprehensive loss ​ — ​ ​ — ​ — ​ ​ — ​ ​ — ​ — ​ ​ — ​ ​ (93.5) ​ ​ — ​ ​ (93.5) Dividends declared: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Class A common stock, $0.20/share, net of forfeitures ​ — ​ ​ — ​ — ​ ​ — ​ ​ — ​ — ​ ​ — ​ ​ — ​ ​ (1.6) ​ ​ (1.6) Class B common stock, $0.20/share ​ — ​ ​ — ​ — ​ ​ — ​ ​ — ​ — ​ ​ — ​ ​ — ​ ​ (1.6) ​ ​ (1.6) Taxes paid for restricted unit withholdings ​ — ​ ​ — ​ — ​ ​ — ​ ​ (1.0) ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ (1.0) Stock-based compensation ​ 469,516 ​ ​ — ​ — ​ ​ — ​ ​ 2.7 ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 2.7 Balances March 31, 2020 ​ 52,549,593 ​ $ 0.5 ​ 51,769,784 ​ $ 0.5 ​ $ 2,003.6 ​ 3,732,625 ​ $ (56.4) ​ $ (119.6) ​ $ (2,902.6) ​ $ (1,074.0) Net loss ​ — ​ ​ — ​ — ​ ​ — ​ ​ — ​ — ​ ​ — ​ ​ — ​ ​ (561.2) ​ ​ (561.2) Other comprehensive income ​ — ​ ​ — ​ — ​ ​ — ​ ​ — ​ — ​ ​ — ​ ​ 56.0 ​ ​ — ​ ​ 56.0 Dividends declared: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Class A common stock, $0.20/share, net of forfeitures ​ — ​ ​ — ​ — ​ ​ — ​ ​ — ​ — ​ ​ — ​ ​ — ​ ​ 0.1 ​ ​ 0.1 Stock-based compensation ​ — ​ ​ — ​ — ​ ​ — ​ ​ 3.7 ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 3.7 Balances June 30, 2020 ​ 52,549,593 ​ $ 0.5 ​ 51,769,784 ​ $ 0.5 ​ $ 2,007.3 ​ 3,732,625 ​ $ (56.4) ​ $ (63.6) ​ $ (3,463.7) ​ $ (1,575.4) ​ ​ ​ Condensed Consolidated Statements of Stockholders’ Equity For the Six Months Ended June 30, 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accumulated ​ ​ ​ ​ ​ ​ ​ ​ Class A Voting ​ Class B Voting ​ Additional ​ ​ ​ ​ ​ ​ Other ​ Accumulated ​ Total ​ ​ Common Stock ​ Common Stock ​ Paid-in ​ Treasury Stock ​ Comprehensive ​ Earnings ​ Stockholders’ (In millions, except share and per share data) Shares Amount Shares Amount Capital ​ Shares Amount Income (Loss) (Deficit) Equity Balances December 31, 2018 ​ 55,401,325 ​ $ 0.5 ​ 51,769,784 ​ $ 0.5 ​ $ 1,998.4 ​ 3,732,625 ​ $ (56.4) ​ $ 5.5 ​ $ (550.9) ​ $ 1,397.6 Cumulative effect adjustments for the adoption of new accounting principle (ASU 842) ​ — ​ ​ — ​ — ​ ​ — ​ ​ — ​ — ​ ​ — ​ ​ — ​ ​ 78.8 ​ ​ 78.8 Net loss ​ — ​ ​ — ​ — ​ ​ — ​ ​ — ​ — ​ ​ — ​ ​ — ​ ​ (130.2) ​ ​ (130.2) Other comprehensive loss ​ — ​ ​ — ​ — ​ ​ — ​ ​ — ​ — ​ ​ — ​ ​ (24.9) ​ ​ — ​ ​ (24.9) Dividends declared: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Class A common stock, $0.20/share ​ — ​ ​ — ​ — ​ ​ — ​ ​ — ​ — ​ ​ — ​ ​ — ​ ​ (10.7) ​ ​ (10.7) Class B common stock, $0.20/share ​ — ​ ​ — ​ — ​ ​ — ​ ​ — ​ — ​ ​ — ​ ​ — ​ ​ (10.4) ​ ​ (10.4) Taxes paid for restricted unit withholdings ​ — ​ ​ — ​ — ​ ​ — ​ ​ (1.1) ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ (1.1) Reclassification from temporary equity ​ 75,712 ​ ​ — ​ — ​ ​ — ​ ​ 0.4 ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 0.4 Stock-based compensation ​ 328,904 ​ ​ — ​ — ​ ​ — ​ ​ 4.0 ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 4.0 Balances March 31, 2019 ​ 55,805,941 ​ $ 0.5 ​ 51,769,784 ​ $ 0.5 ​ $ 2,001.7 ​ 3,732,625 ​ $ (56.4) ​ $ (19.4) ​ $ (623.4) ​ $ 1,303.5 Cumulative effect adjustments for the adoption of new accounting principle (ASU 842) ​ — ​ ​ — ​ — ​ ​ — ​ ​ — ​ — ​ ​ — ​ ​ — ​ ​ (2.6) ​ ​ (2.6) Net earnings ​ — ​ ​ — ​ — ​ ​ — ​ ​ — ​ — ​ ​ — ​ ​ — ​ ​ 49.4 ​ ​ 49.4 Other comprehensive loss ​ — ​ ​ — ​ — ​ ​ — ​ ​ — ​ — ​ ​ — ​ ​ (9.2) ​ ​ — ​ ​ (9.2) Dividends declared: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Class A common stock, $0.20/share, net of forfeitures ​ — ​ ​ — ​ — ​ ​ — ​ ​ — ​ — ​ ​ — ​ ​ — ​ ​ (10.7) ​ ​ (10.7) Class B common stock, $0.20/share ​ — ​ ​ — ​ — ​ ​ — ​ ​ — ​ — ​ ​ — ​ ​ — ​ ​ (10.4) ​ ​ (10.4) Taxes paid for restricted unit withholdings ​ — ​ ​ — ​ — ​ ​ — ​ ​ (0.3) ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ (0.3) Stock-based compensation ​ 3,096 ​ ​ — ​ — ​ ​ — ​ ​ 5.4 ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 5.4 Balances June 30, 2019 ​ 55,809,037 ​ $ 0.5 ​ 51,769,784 ​ $ 0.5 ​ $ 2,006.8 ​ 3,732,625 ​ $ (56.4) ​ $ (28.6) ​ $ (597.7) ​ $ 1,325.1 ​

INCOME TAXES

INCOME TAXES	6 Months Ended
	Jun. 30, 2020
INCOME TAXES
INCOME TAXES	NOTE 8—INCOME TAXES The Company’s worldwide effective income tax rate is based on actual income (loss), statutory rates, valuation allowances against deferred tax assets and tax planning opportunities available in the various jurisdictions in which it operates. The Company is using a discrete income tax calculation for the three and six months ended June 30, 2020 due to the inability to determine reliable annual estimates of taxable income (loss) due to COVID-19. Historically, for interim financial reporting, the Company estimates the worldwide annual income tax rate based on projected taxable income (loss) for the full year and records a quarterly income tax provision or benefit in accordance with the anticipated annual rate, adjusted for discrete items, if any. The Company will return to the historic approach of computing quarterly tax expense based on an annual effective rate in the future interim period when more reliable estimates of annual income become available. The Company recognizes income tax-related interest expense and penalties as income tax expense and general and administrative expense, respectively. The Company evaluates its deferred tax assets each period to determine if a valuation allowance is required based on whether it is “more likely than not” that some portion of the deferred tax assets would not be realized. The ultimate realization of these deferred tax assets is dependent upon the generation of sufficient taxable income during future periods on a federal, state and foreign jurisdiction basis. The Company conducts its evaluation by considering all available positive and negative evidence, including historical operating results, forecasts of future profitability, the duration of statutory carryforward periods, and the outlooks for the U.S. motion picture and broader economy, among others. During the first quarter of 2020, the severe impact of COVID-19 on operations in Germany and Spain caused the Company to conclude the realizability of deferred tax assets held in those jurisdictions does not meet the more likely than not standard. As such, a charge of $33.1 million and $40.1 million was recorded for Germany and Spain, respectively. During the fourth quarter of 2017, the Company determined that it was appropriate to record a valuation allowance against U.S. deferred tax assets. In addition, several other international jurisdictions carried valuation allowances against their deferred tax assets at the beginning of 2020. As a result, the effective tax rate for the six months ended June 30, 2020 reflects the impact of these valuation allowances against U.S. and international deferred tax assets generated during the six month period. The actual effective rate for the six months ended June 30, 2020 was (2.3)%. The Company’s consolidated tax rate for the six months ended June 30, 2020 differs from the U.S. statutory tax rate primarily due to the valuation allowances in U.S. and foreign jurisdictions, foreign tax rate differences, federal and state tax credits, partially offset by state income taxes, permanent differences related to goodwill impairments, interest, compensation, and other discrete items. No tax impact was recorded on the $1,744.3 million goodwill impairment charge incurred during the six months ended June 30, 2020, as the portion impaired was permanently non-deductible. At June 30, 2020 and December 31, 2019, the Company has recorded net deferred tax liabilities of $42.6 million and net deferred tax assets of $24.1 million, respectively. On March 27, 2020, the U.S. government enacted the Coronavirus Aid, Relief and Economic Security Act (the “CARES Act”). The CARES Act, among other things, includes provisions relating to refundable payroll tax credits, deferment of employer side social security payments, net operating loss carryback periods, alternative minimum tax credit refunds, modifications to the net interest deduction limitations and technical corrections to tax depreciation methods for qualified improvement property, as well as loans to certain qualifying businesses. The Company continues to examine the impacts that the CARES Act may have on its business. While the Company may take advantage of certain CARES Act’s cash deferral provisions, many of the provisions are not applicable to the Company. Additionally, as of the date of this filing, the Company has not participated in CARES Act loans.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	6 Months Ended
	Jun. 30, 2020
FAIR VALUE MEASUREMENTS
FAIR VALUE MEASUREMENTS	NOTE 9—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 market based inputs or unobservable 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 and liabilities carried at fair value on a recurring basis as of June 30, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurements at June 30, 2020 Using ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Significant ​ Total Carrying Quoted prices in Significant other unobservable ​ ​ Value at ​ active market ​ observable inputs ​ inputs (In millions) ​ June 30, 2020 ​ (Level 1) ​ (Level 2) ​ (Level 3) Other long-term assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Money market mutual funds ​ $ 1.4 ​ $ 1.4 ​ $ — ​ $ — Derivative asset ​ ​ 24.3 ​ ​ — ​ ​ — ​ ​ 24.3 Investments measured at net asset value ​ ​ 10.7 ​ — ​ — ​ — Marketable equity securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Investment in NCM ​ ​ 4.1 ​ ​ 4.1 ​ ​ — ​ ​ — Total assets at fair value ​ $ 40.5 ​ $ 5.5 ​ $ — ​ $ 24.3 (1) The investments relate to non-qualified deferred compensation arrangements 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. 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 6 — 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 March 31, 2020 ​ ​ ​ ​ ​ ​ Significant other Significant ​ ​ ​ ​ Total Carrying ​ Quoted prices in ​ observable ​ unobservable ​ ​ ​ ​ ​ Value at ​ active market ​ inputs ​ inputs ​ Total (In millions) March 31, 2020 (Level 1) (Level 2) (Level 3) Losses Property, net: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Property net ​ $ 40.5 ​ $ — ​ $ — ​ $ 40.5 ​ $ 30.9 Operating lease right-of-use assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating lease right-of-use assets ​ ​ 124.0 ​ ​ — ​ ​ — ​ ​ 124.0 ​ ​ 60.4 Intangible assets, net ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Definite-lived intangible assets ​ ​ 6.6 ​ ​ — ​ ​ — ​ ​ 6.6 ​ ​ 8.0 Indefinite-lived intangible assets ​ ​ 50.3 ​ ​ — ​ ​ — ​ ​ 50.3 ​ ​ 8.3 Goodwill ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Goodwill ​ ​ 2,938.0 ​ ​ — ​ ​ — ​ ​ 2,938.0 ​ ​ 1,744.3 Other long-term assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cost method investments ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 7.2 Total ​ $ 3,159.4 ​ $ — ​ $ — ​ $ 3,159.4 ​ ​ 1,859.1 ​ 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. Valuation Techniques. Other Fair Value Measurement Disclosures. The Company is required to disclose 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 June 30, 2020 ​ ​ ​ ​ Significant other Significant ​ ​ Total Carrying ​ Quoted prices in ​ observable ​ unobservable ​ ​ Value at ​ active market ​ inputs ​ inputs (In millions) ​ June 30, 2020 ​ (Level 1) ​ (Level 2) ​ (Level 3) Current maturities of corporate borrowings ​ $ 20.0 ​ $ — ​ $ 14.6 ​ $ — Corporate borrowings ​ 5,498.0 ​ — ​ 2,854.0 ​ ​ 180.8 ​ 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	6 Months Ended
	Jun. 30, 2020
OPERATING SEGMENTS
OPERATING SEGMENTS	NOTE 10—OPERATING SEGMENTS ​ ® ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended Revenues (In millions) June 30, 2020 ​ June 30, 2019 ​ June 30, 2020 June 30, 2019 U.S. markets ​ $ 15.7 ​ $ 1,161.2 ​ $ 677.0 $ 2,028.4 International markets ​ ​ 3.2 ​ ​ 344.9 ​ ​ 283.4 ​ 678.1 Total revenues ​ $ 18.9 ​ $ 1,506.1 ​ $ 960.4 $ 2,706.5 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended Adjusted EBITDA (1) (In millions) June 30, 2020 June 30, 2019 ​ June 30, 2020 June 30, 2019 U.S. markets ​ $ (241.6) ​ $ 202.1 ​ $ (245.4) ​ $ 279.5 International markets ​ ​ (98.7) ​ ​ 35.5 ​ ​ (91.8) ​ ​ 66.3 Total Adjusted EBITDA ​ $ (340.3) ​ $ 237.6 ​ $ (337.2) ​ $ 345.8 (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 (benefit), (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. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended Capital Expenditures (In millions) June 30, 2020 June 30, 2019 ​ June 30, 2020 June 30, 2019 U.S. markets ​ $ 24.9 ​ $ 84.1 ​ $ 81.8 ​ $ 159.6 International markets ​ ​ 10.1 ​ ​ 31.0 ​ ​ 44.9 ​ ​ 70.3 Total capital expenditures ​ $ 35.0 ​ $ 115.1 ​ $ 126.7 ​ $ 229.9 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of ​ As of Long-term assets, net (In millions) ​ June 30, 2020 ​ December 31, 2019 U.S. markets ​ $ 7,532.1 ​ $ 9,039.6 International markets ​ ​ 3,059.8 ​ ​ 3,963.1 Total long-term assets ​ $ 10,591.9 ​ $ 13,002.7 (1) Long-term assets are comprised of property, operating lease right-of-use assets, intangible assets, goodwill, deferred tax assets, and other long-term assets. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended (In millions) ​ June 30, 2020 ​ June 30, 2019 June 30, 2020 ​ June 30, 2019 Net earnings (loss) ​ $ (561.2) ​ $ 49.4 ​ $ (2,737.5) ​ $ (80.8) Plus: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Income tax provision (benefit) ​ (6.1) ​ 5.4 ​ 62.1 ​ 11.1 Interest expense ​ 91.2 ​ 86.4 ​ 174.0 ​ 170.0 Depreciation and amortization ​ 119.7 ​ 112.0 ​ 242.2 ​ 225.0 Impairment of long-lived assets, indefinite-lived intangible assets and goodwill ​ — ​ — ​ 1,851.9 ​ — Certain operating expenses ​ (1.5) ​ 2.3 ​ 0.6 ​ 4.8 Equity in (earnings) loss of non-consolidated entities ​ 12.4 ​ (10.2) ​ 15.3 ​ (16.7) Cash distributions from non-consolidated entities ​ 6.1 ​ 1.8 ​ 13.7 ​ 12.3 Attributable EBITDA ​ ​ 0.6 ​ ​ 2.0 ​ ​ 0.5 ​ ​ 2.9 Investment expense (income) ​ (1.3) ​ (2.1) ​ 8.1 ​ (18.2) Other expense (income) ​ (1.9) ​ (23.8) ​ 25.0 ​ 6.1 Other non-cash rent ​ ​ (3.8) ​ ​ 5.8 ​ ​ (1.5) ​ ​ 13.4 General and administrative — unallocated: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Merger, acquisition and other costs ​ 1.8 ​ 3.2 ​ 2.0 ​ 6.5 Stock-based compensation expense ​ 3.7 ​ 5.4 ​ 6.4 ​ 9.4 Adjusted EBITDA ​ $ (340.3) ​ $ 237.6 ​ $ (337.2) ​ $ 345.8 (1) For information regarding the income tax provision, see Note 8 — Income Taxes. (2) During the six months ended June 30, 2020, the Company recorded non-cash impairment charges of $1,124.9 million and $619.4 million related to the enterprise fair values of its Domestic Theatres and International Theatres reporting units, respectively. The Company recorded non-cash impairment charges related to its long-lived assets of $81.4 million on 57 theatres in the U.S. markets with 658 screens which were related to property, net, operating lease right-of-use assets, net and other long-term assets and $9.9 million on 23 theatres in the International markets with 213 screens which were related to property, net and operating lease right-of-use assets, net, during the six months ended June 30, 2020. The Company recorded non-cash impairment charges related to its indefinite-lived intangible assets of $5.9 million and $2.4 million related to the Odeon and Nordic tradenames, respectively, during the six months ended June 30, 2020. The Company also recorded non-cash impairment charges of $8.0 million related to its definite-lived intangible assets. (3) 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 or are non-operating in nature. (4) Equity in (earnings) loss of non-consolidated entities was primarily due to equity in loss from DCIP of $9.7 million for the three months ended June 30, 2020 compared to equity in earnings from DCIP of $9.0 million for the three months ended June 30, 2019. Equity in (earnings) loss of non-consolidated entities was primarily due to equity in loss from DCIP of $11.6 million for the six months ended June 30, 2020 compared to equity in earnings from DCIP of $14.6 million for the six months ended June 30, 2019. (5) 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. (6) 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. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended ​ (In millions) ​ June 30, 2020 June 30, 2019 June 30, 2020 June 30, 2019 ​ Equity in (earnings) loss of non-consolidated entities ​ $ 12.4 ​ $ (10.2) ​ $ 15.3 ​ $ (16.7) ​ Less: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity in (earnings) loss of non-consolidated entities excluding International theatre joint ventures ​ ​ 12.2 ​ ​ (9.8) ​ ​ 14.3 ​ ​ (15.8) ​ Equity in earnings (loss) of International theatre joint ventures ​ ​ (0.2) ​ ​ 0.4 ​ ​ (1.0) ​ ​ 0.9 ​ Income tax provision (benefit) ​ ​ — ​ ​ 0.1 ​ ​ (0.1) ​ ​ 0.1 ​ Investment income ​ ​ — ​ ​ (0.3) ​ ​ (0.2) ​ ​ (0.5) ​ Interest expense ​ ​ — ​ ​ 0.1 ​ ​ — ​ ​ 0.1 ​ Depreciation and amortization ​ ​ 0.7 ​ ​ 1.7 ​ ​ 1.5 ​ ​ 2.3 ​ Other expense ​ ​ 0.1 ​ ​ — ​ ​ 0.3 ​ ​ — ​ Attributable EBITDA ​ $ 0.6 ​ $ 2.0 ​ $ 0.5 ​ $ 2.9 ​ ​ (7) Other income for the three months ended June 30, 2020 compared to three months ended June 30, 2019 decreased $21.9 million. For the three months ended June 30, 2019, the Company recorded a gain of $33.9 million related to the change in fair value of the Company’s derivative liability for the embedded conversion feature in the Company’s Convertible Notes due 2024, partially offset by the loss on repayment of indebtedness of $16.6 million. Other expense for the six months ended June 30, 2020 compared to six months ended June 30, 2019 increased $18.9 million, primarily due to the decrease in the gain recorded for the change in fair value of the Company’s derivative liability for the embedded conversion feature in the Company’s Convertible Notes due 2024 of $20.1 million, credit losses related to contingent lease guarantees of $9.2 million, and loss due to the change in the 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 $5.7 million. For the six months ended June 30, 2019, the Company recorded a loss on repayment of indebtedness of $16.6 million. See Note 1 —Basis of Presentation for further information related to other expense (income). (8) Reflects amortization expense for certain intangible assets reclassified from depreciation and amortization to rent expense due to the adoption of ASC 842 and deferred rent benefit related to the impairment of right-of-use operating lease assets. ​ (9) Merger, acquisition and other costs are excluded as they are non-operating in nature. ​ (10) Non-cash expense included in general and administrative: other

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Jun. 30, 2020
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. (the “Hawaii Action”), and Nichols v. AMC Entertainment Holdings, Inc., et al. 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 March 20, 2020, a stockholder derivative complaint, captioned Manuel v. Aron, et al On April 7, 2020, a stockholder derivative complaint, captioned Dinkevich v. Aron, et al On February 3, 2020, the Company received a books and records demand pursuant to 8 Del. C. On December 31, 2019, the Company received a stockholder litigation demand, requesting that the Board investigate the allegations in the Actions and pursue claims on the Company’s behalf based on those allegations. On May 5, 2020, the Board determined not to pursue the claims sought in the demand at this time. On July 15, 2020, the Company received a second stockholder litigation demand requesting substantially the same action as the stockholder demand it received on December 31, 2019. On April 22, 2019, a putative stockholder class and derivative complaint, captioned Lao v. Dalian Wanda Group Co., Ltd. Company’s Board of Directors formed a Special Litigation Committee to investigate and evaluate the claims and allegations asserted in the Lao Action and make a determination as to how the Company should proceed with respect to the Lao Action. On October 25, 2019, the court granted a motion to stay the action for six months to allow the Special Litigation Committee to complete its investigation. On March 17, 2020, the court extended the stay until December 11, 2020. 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. During the three and six months ended June 30, 2020, the Company recorded $3.9 million and $9.2 million, respectively, in estimated credit losses related to contingent lease guarantees in other expense. The Company applied a probability weighted approach for the estimation of credit loss reserve for contingent lease guarantees expected to be funded over the lease term using the discounted cash flow method. See Note 1 — ​

EARNINGS (LOSS) PER SHARE

EARNINGS (LOSS) PER SHARE	6 Months Ended
	Jun. 30, 2020
EARNINGS (LOSS) PER SHARE
EARNINGS (LOSS) PER SHARE	NOTE 12—EARNINGS (LOSS) PER SHARE ​ Basic net earnings (loss) per share is computed by dividing net earnings (loss) by the weighted-average number of common shares outstanding. Diluted earnings (loss) per share includes the effects of unvested restricted stock units (“RSUs”) with a service condition only, unvested contingently issuable RSUs that have service and performance conditions (“PSUs”), and unvested contingently issuable special performance stock units that have service and market conditions (“SPSUs”), 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: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended (In millions) June 30, 2020 June 30, 2019 June 30, 2020 June 30, 2019 Numerator: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net earnings (loss) for basic earnings (loss) per share ​ $ (561.2) ​ $ 49.4 ​ $ (2,737.5) ​ $ (80.8) Calculation of net earnings (loss) for diluted earnings (loss) per share: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Marked-to-market gain on derivative liability ​ ​ — ​ ​ (33.9) ​ ​ — ​ ​ — Interest expense for Convertible Notes due 2024 ​ ​ — ​ ​ 8.1 ​ ​ — ​ ​ — Net earnings (loss) for diluted earnings (loss) per share ​ $ (561.2) ​ $ 23.6 ​ $ (2,737.5) ​ $ (80.8) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Denominator ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average shares for basic loss per common share ​ 104,319 ​ 103,845 ​ 104,282 ​ 103,814 Common equivalent shares for RSUs and PSUs ​ — ​ 21 ​ — ​ — Common equivalent shares if converted: convertible notes 2024 ​ ​ — ​ ​ 31,662 ​ ​ — ​ ​ — Weighted average shares for diluted earnings (loss) per common share ​ 104,319 ​ 135,528 ​ 104,282 ​ 103,814 Basic earnings (loss) per common share ​ $ (5.38) ​ $ 0.48 ​ $ (26.25) ​ $ (0.78) Diluted earnings (loss) per common share ​ $ (5.38) ​ $ 0.17 ​ $ (26.25) ​ $ (0.78) ​ 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. For the three and six months ended June 30, 2020, unvested RSUs of 2,249,263 were not included in the computation of diluted loss per share because they would be anti-dilutive. For the six months ended June 30, 2019, unvested RSUs of 1,253,870 were not included in the computation of diluted loss per share because they would be anti-dilutive. Unvested PSUs and SPSUs are subject to performance and market conditions, respectively, 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. Unvested PSUs of 782,992 and 502,858 at 100% performance target for the three months ended June 30, 2020 and June 30, 2019, respectively, unvested PSUs of 793,932 and 502,858 at 100% of performance target for the six months ended June 30, 2020 and June 30, 2019, respectively, and unvested SPSUs of 595,003 at the minimum market condition for both the three and six months ended June 30, 2020, were not included in the computation of diluted loss per share because they would not be issuable if the end of the reporting period were the end of the contingency period. 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. For the three months ended June 30, 2020, the Company has not adjusted net loss to eliminate the interest expense of $8.3 million in the computation of diluted loss per share because the effects would be anti-dilutive. The (gain)/loss for the derivative liability related to the Convertible Notes due 2024 was $0 million for the three months ended June 30, 2020. For the six months ended June 30, 2020 and June 30, 2019, the Company has not adjusted net loss to eliminate the interest expense of $16.6 million and $16.0 million, respectively, and also the (gain)/loss for the derivative liability related to the Convertible Notes due 2024 of $(0.5) million and $(20.6) million, respectively, in the computation of diluted loss per share because the effects would be anti-dilutive. For the three months ended June 30, 2020, the six months June 30, 2020 and the six months ended June 30, 2019, the Company has not included in diluted weighted average shares approximately 31.7 million shares issuable upon conversion in both periods as the effects would be anti-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.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended
	Jun. 30, 2020
SUBSEQUENT EVENTS.
SUBSEQUENT EVENTS	NOTE 14—SUBSEQUENT EVENTS Senior Subordinated Debt Exchange Offer On July 31, 2020, the Company closed its previously announced private offers to exchange (the “Exchange Offers”) any and all of its outstanding 6.375% Senior Subordinated Notes due 2024, 5.75% Senior Subordinated Notes due 2025, 5.875% Senior Subordinated Notes due 2026 and 6.125% Senior Subordinated Notes due 2027 (together the “Existing Subordinated Notes”) for newly issued The Exchange Offers reduced the principal amounts of the Company’s debt by approximately $555 million, which represented approximately 24.1% of the principal amount of the Existing Subordinated Notes. The Company In connection with the Exchange Offers, the Company also received consents (the “Consent Solicitations”) from eligible holders of the Existing Subordinated Notes to amend the indentures governing the Existing Subordinated Notes to among other things, (i) release the existing subsidiary guarantees of the Existing Subordinated Notes, (ii) eliminate substantially all of the restrictive covenants, certain affirmative covenants and certain events of default contained in the indentures governing the Existing Subordinated Notes, and (iii) makes other conforming changes to internally conform to certain proposed amendments. Under ASC 840-470-60, Troubled Debt Restructurings by Debtors, the Company believes the exchange of approximately $2,017.5 million principal amount of its senior subordinated notes for approximately $1,462.3 million principal amount of second lien secured debt will represent a troubled debt restructuring (“TDR”) as the Company was experiencing financial difficulties and the lenders granted a concession. The Company does not expect the TDR will result in a gain recognition, a new effective interest rate will be established based on the carrying value of the senior subordinated notes and the Company expects new fees paid to third parties of approximately $29.7 million will be expensed. The Company is currently evaluating the impact on its consolidated financial statements. Second Lien Notes due 2026 In connection with the Exchange Offers, the Company issued the new Second Lien Notes due 2026 in exchange for the Existing Subordinated Notes. Interest due for the coming 12 to 18 months on the Second Lien Notes due 2026 is expected to be paid all or in part on an in-kind basis pursuant to the terms of the Second Lien Notes due 2026. The Second Lien Notes due 2026 are fully and unconditionally guaranteed on a joint and several basis by each of the Company’s subsidiaries that currently guarantee its obligations under the Company’s Senior Secured Credit Facilities. The Second Lien Notes due 2026 are secured by a second-priority lien on substantially all of the tangible and intangible assets owned by the Company and the guarantor subsidiaries that secure obligations under the Senior Secured Credit Facilities (“Collateral”). The Second Lien Notes due 2026 are subordinated in right of payment to all indebtedness of the Company that is secured by a first-priority lien on the Collateral. Incremental First Lien Notes due 2026 In connection with the Exchange Offers, holders of the Existing Subordinated Notes purchased new and incremental 10.5% first lien secured notes due 2026 (the “Incremental First Lien Notes due 2026”), in an aggregate principal of $200 million. Those providing a backstop commitment received their pro-rata share of 5 million shares of the Class A common stock, or 4.6% of AMC’s outstanding shares, worth $20.2 million at the market closing price on July 31, 2020. Separately, upon the closing of its private debt exchange, Silver Lake purchased from the Company $100 million principal amount of Incremental First Lien Notes due 2026 of a separate series. The $300 million in new funding is prior to deducting discounts and cash premiums based on contract assumptions and estimates of $36 million. The Incremental First Lien Notes due 2026 are fully and unconditionally guaranteed on a joint and several basis by each of the Company’s subsidiaries that currently guarantee its obligations under the Company’s Senior Secured Credit Facilities. The Incremental First Lien Notes are secured by a first-priority lien on the Collateral. 2.95% Senior Unsecured Convertible Notes due 2024 ​ Senior Secured Credit Facility On July 31, 2020, the Company entered into an amendment with the administrative agent to the Senior Secured Credit Facility to add restrictive provisions arising under the terms of the Incremental First Lien Notes due 2026. ​

BASIS OF PRESENTATION (Policies

BASIS OF PRESENTATION (Policies)	6 Months Ended
	Jun. 30, 2020
BASIS OF PRESENTATION
Temporarily Suspended Operations	Temporarily Suspended Operations. As of or before March 17, 2020, the Company temporarily suspended all theatre operations in its U.S. markets and International markets in compliance with local, state, and federal governmental restrictions and recommendations on social gatherings to prevent the spread of COVID-19 and as a precaution to help ensure the health and safety of the Company’s guests and theatre staff. As a result of these temporarily suspended operations, the Company’s revenues and expenses for the three and six months ended June 30, 2020 are significantly lower than the revenues and expenses for the three and six months ended June 30, 2019. The theatre operations in the U.S. markets remained suspended for the entire second quarter of 2020. The Company resumed limited operations in the International markets in early June. As of June 30, 2020, the Company had resumed operations at 37 theatres in nine countries in the International markets and recorded attendance of 100,000 guests during the three months ended June 30, 2020. On July 23, 2020, the Company announced it is currently planning to reopen its U.S. movie theatres in mid to late August 2020. In International markets, as of the end of July 2020, the Company has already resumed operations in more than 130 theatres in all of the countries the Company serves in Europe and the Middle East.
Liquidity	Liquidity. In response to the COVID-19 pandemic, the Company has taken and is continuing to take significant steps to preserve cash by eliminating non-essential costs, including reductions to executive compensation and elements of its fixed cost structure: ● Suspended non-essential operating expenditures, including marketing & promotional and travel and entertainment expenses; and where possible, for example: utilities, reduced essential operating expenditures to minimum levels necessary while theatres are closed. ● Terminated or deferred all non-essential capital expenditures to minimum levels necessary while theatres are closed. ● Implemented measures to reduce corporate-level employment costs, including full or partial furloughs of all corporate-level Company employees, including senior executives, with individual work load and salary reductions ranging from 20% to 100% ; cancellation of pending annual merit pay increases; and elimination or reduction of non-healthcare benefits. ● All domestic theatre-level crew members have been fully furloughed and theatre-level management has been reduced to the minimum level necessary to begin resumption of operations when permitted. Similar efforts to reduce theatre-level and corporate employment costs are being undertaken internationally consistent with applicable laws across the jurisdictions in which the Company operates. ● Working with the Company’s landlords, vendors, and other business partners to manage, defer, and/or abate the related rent expenses and operating expenses during the disruptions caused by the COVID-19 pandemic. ● Introduced an active cash management process, which, among other things, requires senior management approval of all outgoing payments. ● Since April 24, 2020, the Company has been prohibited from making dividend payments in accordance with the covenant suspension conditions in its Senior Secured Credit Agreement. The Company had also previously elected to decrease the dividend paid in the first quarter of 2020 by $0.17 per share when compared to the first quarter of 2019. The cash savings as a result of the prior decrease and current prohibition on making dividend payments was $38.3 million during the six months ended June 30, 2020 in comparison to the six months ended June 30, 2019. ● The Company is prohibited from making purchases under its recently authorized stock repurchase program in accordance with the covenant suspension conditions in its Senior Secured Credit Agreement. On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) was signed into law. The CARES Act provides opportunities for additional liquidity, loan guarantees, and other government programs to support companies affected by the COVID-19 pandemic and their employees. Based on the Company’s preliminary analysis of the CARES Act, the Company expects to recognize the following benefits: ● Approximately $17.4 million of cash tax refunds from overpayments and refundable alternative minimum tax credits with the filing of the Company’s 2019 federal tax return, amending 2018 state tax returns and filing 2019 state tax returns in which the Company expects a refund. ● Deferral of social security payroll tax matches that would otherwise be required in 2020. ● Receipt of a payroll tax credit in 2020 for expenses related to paying wages and health benefits to employees who are not working as a result of temporarily suspended operations and reduced receipts associated with COVID-19. ​ The Company intends to seek any available potential benefits under the CARES Act, including loans, investments or guarantees, and any other such current or future government programs for which the Company qualifies domestically and internationally, including those described above. The Company cannot predict the manner in which such benefits will be allocated or administered, and the Company cannot assure the reader that it will be able to access such benefits in a timely manner or at all. The Company believes its cash balance as of June 30, 2020, cash generated from operating activities, the proceeds from the issuance on July 31, 2020 of $300.0 million, prior to deducting discounts and cash premiums based on contract assumptions and estimates of $36 million, of new 10.5% Senior Secured Notes due 2026 (the “First Lien Notes due 2026”) and the closing of the exchange offer on July 31, 2020 (the “Exchange Offers”) (which allowed the Company to extend maturities on approximately $1.7 billion of debt to 2026, most of which was maturing in 2024 and 2025 previously, with interest due for the coming 12 to 18 months on the exchanged senior subordinated notes expected to be paid all or in part on an in-kind basis pursuant to the terms of the 10%/12% Cash/PIK Toggle Second Lien Subordinated Secured Notes due 2026 (the “Second Lien Notes due 2026”), thereby generating a further near-term cash savings for the Company of between approximately $120 million to $180 While the Company has used its best estimates based on currently available information, the Company cannot assure the reader that its assumptions used to estimate its liquidity requirements will be correct — —
Use of Estimates	Use of Estimates.
Principles of Consolidation	Principles of Consolidation.
Accumulated other comprehensive loss	Accumulated other comprehensive loss. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pension and ​ ​ ​ ​ ​ Foreign ​ Other ​ ​ ​ (In millions) Currency Benefits Total Balance December 31, 2019 ​ $ (8.8) ​ $ (17.3) ​ $ (26.1) ​ Other comprehensive loss before reclassifications ​ (38.2) ​ — ​ (38.2) ​ Amounts reclassified from accumulated other comprehensive loss ​ — ​ 0.7 ​ 0.7 ​ Balance June 30, 2020 ​ $ (47.0) ​ $ (16.6) ​ $ (63.6) ​
Accumulated depreciation and amortization	Accumulated depreciation and amortization.
Other expense	Other expense (income). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended (In millions) ​ June 30, 2020 ​ June 30, 2019 ​ June 30, 2020 ​ June 30, 2019 Derivative liability fair value adjustment for embedded conversion feature in the Convertible Notes due 2024 ​ $ — ​ $ (33.9) ​ $ (0.5) ​ $ (20.6) Derivative asset fair value adjustment for contingent call option related to the Class B common stock purchase and cancellation agreement ​ ​ (6.4) ​ ​ (7.1) ​ ​ 13.7 ​ ​ 8.0 Credit losses related to contingent lease guarantees ​ ​ 3.9 ​ ​ — ​ ​ 9.2 ​ ​ — International governmental assistance due to COVID-19 ​ ​ (4.4) ​ ​ — ​ ​ (4.4) ​ ​ — Loss on Pound sterling forward contract ​ ​ — ​ ​ 0.7 ​ ​ — ​ ​ 1.0 Foreign currency transactions losses ​ ​ (2.1) ​ ​ 0.1 ​ ​ (0.1) ​ ​ 0.6 Non-operating components of net periodic benefit cost ​ ​ 0.1 ​ ​ 0.4 ​ ​ 0.1 ​ ​ 0.5 Loss on repayment of indebtedness ​ ​ — ​ ​ 16.6 ​ ​ — ​ ​ 16.6 Financing fees related to modification of debt agreements ​ ​ 2.8 ​ ​ — ​ ​ 2.8 ​ ​ — Other ​ ​ (0.5) ​ ​ (0.2) ​ ​ (0.5) ​ ​ 0.3 Total other expense (income) ​ $ (6.6) ​ $ (23.4) ​ $ 20.3 ​ $ 6.4
Impairments	Impairments. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended ​ ​ June 30, ​ June 30, ​ June 30, ​ June 30, (In millions) 2020 2019 2020 2019 Impairment of long-lived assets ​ $ — ​ $ — ​ $ 91.3 ​ $ — Impairment of indefinite-lived intangible assets ​ ​ — ​ ​ — ​ ​ 8.3 ​ ​ — Impairment of definite-lived intangible assets ​ ​ — ​ ​ — ​ ​ 8.0 ​ ​ — Impairment of goodwill ​ ​ — ​ ​ — ​ ​ 1,744.3 ​ ​ — Investment expense ​ ​ — ​ ​ — ​ ​ 7.2 ​ ​ — Total impairment loss ​ $ — ​ $ — ​ $ 1,859.1 ​ $ — (1) See Note 4 — Goodwill for information regarding goodwill impairment. The Company evaluates definite-lived and indefinite-lived intangible assets for impairment annually or more frequently as specific events or circumstances dictate or changes in circumstances indicate that the carrying amount of the asset group may not be fully recoverable. During the three and six months ended June 30, 2020, the Company recorded non-cash impairment of long-lived assets of $0 and $81.4 million on 57 theatres in the U.S. markets with 658 screens (in Alabama, Arkansas, California, District of Columbia, Florida, Georgia, Illinois, Indiana, Iowa, Kentucky, Michigan, Minnesota, Missouri, Montana, New Hampshire, New Jersey, New York, North Carolina, North Dakota, Ohio, Pennsylvania, South Dakota, Tennessee, Texas, Washington, Wisconsin and Wyoming), respectively, and $0 and $9.9 million on 23 theatres in the International markets with 213 screens (in Germany, Italy, Spain, UK and Sweden), respectively. During the three and six months ended June 30, 2020, the Company recorded impairment losses related to definite-lived intangible assets of $0 and $8.0 million, respectively. In addition, in the three and six months ended June 30, 2020, the Company recorded an impairment loss of $0 and $7.2 million, respectively within investment expense (income), related to equity interest investments without a readily determinable fair value accounted for under the cost method. At March 31, 2020, the Company performed a quantitative impairment evaluation of its indefinite-lived intangible assets related to the AMC, Odeon and Nordic tradenames. The Company recorded impairment charges of $0 and $5.9 million related to Odeon tradenames and $0 and $2.4 million related to Nordic tradenames for the three and six months ended June 30, 2020, respectively. To estimate fair value of the Company’s indefinite-lived trade names, the Company employed a derivation of the Income Approach known as the Royalty Savings.
Accounting Pronouncements	Accounting Pronouncements Recently Adopted Financial Instruments. In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 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 impacts how the Company determines its allowance for estimated uncollectible receivables and also contingent lease guarantees, where 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. ASU 2016-13 was effective for the Company in the first quarter of 2020. The Company recognized the cumulative effect upon adoption of the new standard related to credit losses for contingent lease guarantees of 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 are no longer required to disclose the amount of and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy, but are required to disclose the range and weighted average used to develop significant observable inputs for Level 3 fair value measurements. The fair value measurement disclosure requirements of ASU 2018-13 was effective for the Company in the first quarter of 2020. See Note 9—Fair Value Measurements for the required disclosures for Level 3 fair value measurements. Cloud Computing Arrangement. 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”). ASU 2018-15 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 which implementation, setup, and other upfront costs to capitalize as assets or expense as incurred. ASU 2018-15 was effective for the Company in the first quarter of 2020. 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 adopted ASU 2018-15 prospectively and the adoption of ASU 2018-15 did not have a material impact on the Company’s consolidated financial statements and related disclosures. Accounting Pronouncements Issued Not Yet Adopted Income Taxes. In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740) Simplifying the Accounting for Income Taxes (“ASU 2019-12”), which is intended to improve consistency and simplify several areas of existing guidance. ASU 2019-12 removes certain exceptions to the general principles related to the approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. The new guidance also clarifies the accounting for transactions that result in a step-up in the tax basis for goodwill. ASU 2019-12 is effective for the Company in the first quarter of 2021. Early adoption is permitted. The Company is currently evaluating the effect that ASU 2019-12 will have on its consolidated financial statements.

BASIS OF PRESENTATION (Tables)

BASIS OF PRESENTATION (Tables)	6 Months Ended
	Jun. 30, 2020
BASIS OF PRESENTATION
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pension and ​ ​ ​ ​ ​ Foreign ​ Other ​ ​ ​ (In millions) Currency Benefits Total Balance December 31, 2019 ​ $ (8.8) ​ $ (17.3) ​ $ (26.1) ​ Other comprehensive loss before reclassifications ​ (38.2) ​ — ​ (38.2) ​ Amounts reclassified from accumulated other comprehensive loss ​ — ​ 0.7 ​ 0.7 ​ Balance June 30, 2020 ​ $ (47.0) ​ $ (16.6) ​ $ (63.6) ​
Schedule components of other expense (income)	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended (In millions) ​ June 30, 2020 ​ June 30, 2019 ​ June 30, 2020 ​ June 30, 2019 Derivative liability fair value adjustment for embedded conversion feature in the Convertible Notes due 2024 ​ $ — ​ $ (33.9) ​ $ (0.5) ​ $ (20.6) Derivative asset fair value adjustment for contingent call option related to the Class B common stock purchase and cancellation agreement ​ ​ (6.4) ​ ​ (7.1) ​ ​ 13.7 ​ ​ 8.0 Credit losses related to contingent lease guarantees ​ ​ 3.9 ​ ​ — ​ ​ 9.2 ​ ​ — International governmental assistance due to COVID-19 ​ ​ (4.4) ​ ​ — ​ ​ (4.4) ​ ​ — Loss on Pound sterling forward contract ​ ​ — ​ ​ 0.7 ​ ​ — ​ ​ 1.0 Foreign currency transactions losses ​ ​ (2.1) ​ ​ 0.1 ​ ​ (0.1) ​ ​ 0.6 Non-operating components of net periodic benefit cost ​ ​ 0.1 ​ ​ 0.4 ​ ​ 0.1 ​ ​ 0.5 Loss on repayment of indebtedness ​ ​ — ​ ​ 16.6 ​ ​ — ​ ​ 16.6 Financing fees related to modification of debt agreements ​ ​ 2.8 ​ ​ — ​ ​ 2.8 ​ ​ — Other ​ ​ (0.5) ​ ​ (0.2) ​ ​ (0.5) ​ ​ 0.3 Total other expense (income) ​ $ (6.6) ​ $ (23.4) ​ $ 20.3 ​ $ 6.4
Schedule of impairment of assets	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended ​ ​ June 30, ​ June 30, ​ June 30, ​ June 30, (In millions) 2020 2019 2020 2019 Impairment of long-lived assets ​ $ — ​ $ — ​ $ 91.3 ​ $ — Impairment of indefinite-lived intangible assets ​ ​ — ​ ​ — ​ ​ 8.3 ​ ​ — Impairment of definite-lived intangible assets ​ ​ — ​ ​ — ​ ​ 8.0 ​ ​ — Impairment of goodwill ​ ​ — ​ ​ — ​ ​ 1,744.3 ​ ​ — Investment expense ​ ​ — ​ ​ — ​ ​ 7.2 ​ ​ — Total impairment loss ​ $ — ​ $ — ​ $ 1,859.1 ​ $ — (1) See Note 4 — Goodwill for information regarding goodwill impairment.

LEASES (Tables)

LEASES (Tables)	6 Months Ended
	Jun. 30, 2020
LEASES
Schedule of components of lease costs	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended ​ ​ Consolidated Statement ​ June 30, ​ June 30, ​ June 30, ​ June 30, (In millions) ​ of Operations ​ 2020 ​ 2019 ​ 2020 ​ 2019 Operating lease cost ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Theatre properties ​ Rent ​ $ 203.9 ​ $ 220.7 ​ $ 420.8 ​ $ 439.6 Theatre properties ​ Operating expense ​ ​ 0.1 ​ ​ 1.2 ​ ​ 2.3 ​ ​ 2.9 Equipment ​ Operating expense ​ ​ 3.8 ​ ​ 3.5 ​ ​ 7.7 ​ ​ 7.0 Office and other ​ General and administrative: other ​ ​ 1.3 ​ ​ 1.4 ​ ​ 2.6 ​ ​ 2.7 Finance lease cost ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amortization of finance lease assets ​ Depreciation and amortization ​ ​ 1.7 ​ ​ 2.5 ​ ​ 3.6 ​ ​ 5.2 Interest expense on lease liabilities ​ Finance lease obligations ​ ​ 1.5 ​ ​ 2.1 ​ ​ 3.1 ​ ​ 4.2 Variable lease cost ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Theatre properties ​ Rent ​ ​ 20.2 ​ ​ 25.2 ​ ​ 41.1 ​ ​ 48.3 Equipment ​ Operating expense ​ ​ (0.5) ​ ​ 19.1 ​ ​ 6.5 ​ ​ 29.8 Total lease cost ​ ​ ​ $ 232.0 ​ $ 275.7 ​ $ 487.7 ​ $ 539.7
Schedule of cash flow and supplemental information	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six Months Ended (In millions) ​ 2020 ​ 2019 Cash paid for amounts included in the measurement of lease liabilities: ​ ​ ​ ​ ​ ​ Operating cash flows used in finance leases ​ $ (3.1) ​ $ (4.2) Operating cash flows used in operating leases ​ ​ (249.8) ​ ​ (468.2) Financing cash flows used in finance leases ​ ​ (2.3) ​ ​ (6.1) ​ ​ ​ ​ ​ ​ ​ Landlord contributions: ​ ​ ​ ​ ​ ​ Operating cashflows provided by operating leases ​ ​ 24.9 ​ ​ 64.8 Supplemental disclosure of noncash leasing activities: ​ ​ ​ ​ ​ ​ Right-of-use assets obtained in exchange for new operating lease liabilities ​ ​ 133.7 ​ ​ 115.5 (1) Includes lease extensions and option exercises.
Schedule of weighted average remaining lease term and discount rate	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of June 30, 2020 ​ ​ Weighted Average ​ Weighted Average ​ ​ Remaining ​ Discount Lease Term and Discount Rate ​ Lease Term (years) ​ Rate Operating leases ​ ​ 9.9 ​ ​ 7.5% Finance leases ​ ​ 12.8 ​ ​ 6.5%
Schedule of minimum annual payments required under existing leases	​ ​ ​ ​ ​ ​ ​ ​ ​ Operating Lease ​ Financing Lease (In millions) ​ Payments ​ Payments Six months ending December 31, 2020 ​ $ 470.0 ​ $ 7.7 2021 ​ ​ 931.8 ​ ​ 16.1 2022 ​ ​ 866.2 ​ ​ 15.6 2023 ​ ​ 771.6 ​ ​ 11.7 2024 ​ ​ 694.9 ​ ​ 9.9 2025 ​ ​ 645.4 ​ ​ 9.3 Thereafter ​ ​ 3,185.3 ​ ​ 68.6 Total lease payments ​ ​ 7,565.2 ​ ​ 138.9 Less imputed interest ​ ​ (2,239.3) ​ ​ (45.0) Total ​ $ 5,325.9 ​ $ 93.9

REVENUE RECOGNITION (Tables)

REVENUE RECOGNITION (Tables)	6 Months Ended
	Jun. 30, 2020
Disaggregation of Revenue [Line Items]
Schedule of disaggregated revenue	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended (In millions) ​ June 30, 2020 ​ June 30, 2019 ​ June 30, 2020 ​ June 30, 2019 Major revenue types ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Admissions ​ $ 0.9 ​ $ 895.5 ​ $ 568.9 ​ $ 1,627.0 Food and beverage ​ ​ 0.4 ​ ​ 492.5 ​ ​ 288.5 ​ ​ 861.3 Other theatre: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Advertising ​ ​ 14.3 ​ ​ 35.7 ​ ​ 44.0 ​ ​ 70.2 Other theatre ​ ​ 3.3 ​ ​ 82.4 ​ ​ 59.0 ​ ​ 148.0 Other theatre ​ ​ 17.6 ​ ​ 118.1 ​ ​ 103.0 ​ ​ 218.2 Total revenues ​ $ 18.9 ​ $ 1,506.1 ​ $ 960.4 ​ $ 2,706.5 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended (In millions) ​ June 30, 2020 ​ June 30, 2019 ​ June 30, 2020 ​ June 30, 2019 Timing of revenue recognition ​ ​ ​ ​ ​ ​ ​ ​ Products and services transferred at a point in time ​ $ 3.6 ​ $ 1,410.2 ​ $ 855.4 ​ $ 2,520.2 Products and services transferred over time ​ ​ 15.3 ​ ​ 95.9 ​ ​ 105.0 ​ ​ 186.3 Total revenues ​ $ 18.9 ​ $ 1,506.1 ​ $ 960.4 ​ $ 2,706.5 (1) ​ ​
Schedule of receivables and deferred revenue income	​ ​ ​ ​ ​ ​ ​ ​ (In millions) ​ June 30, 2020 ​ December 31, 2019 Current assets: ​ ​ ​ ​ ​ ​ Receivables related to contracts with customers ​ $ 12.6 ​ $ 160.3 Miscellaneous receivables ​ ​ 58.1 ​ ​ 93.9 Receivables, net ​ $ 70.7 ​ $ 254.2 ​ ​ ​ ​ ​ ​ ​ ​ ​ (In millions) ​ June 30, 2020 ​ December 31, 2019 Current liabilities: ​ ​ ​ ​ ​ ​ Deferred revenue related to contracts with customers ​ $ 401.0 ​ $ 447.1 Miscellaneous deferred income ​ ​ 5.1 ​ ​ 2.1 Deferred revenue and income ​ $ 406.1 ​ $ 449.2
Customers included in deferred revenues and income
Disaggregation of Revenue [Line Items]
Schedule of changes in contract liabilities	​ ​ ​ ​ ​ ​ ​ Deferred Revenues ​ ​ Related to Contracts (In millions) ​ with Customers Balance December 31, 2019 ​ $ 447.1 Cash received in advance ​ ​ 74.4 Customer loyalty rewards accumulated, net of expirations: ​ ​ ​ Admission revenues ​ ​ 4.8 Food and beverage ​ ​ 12.5 Other theatre ​ ​ (0.2) Reclassification to revenue as the result of performance obligations satisfied: ​ ​ ​ Admission revenues ​ ​ (88.3) Food and beverage ​ ​ (25.1) Other theatre ​ ​ (22.2) Foreign currency translation adjustment ​ ​ (2.0) Balance June 30, 2020 ​ $ 401.0 ​ (1) ® ​ (2) ® ​ (3) ® ​ (4) ®
Exhibitor services agreement
Disaggregation of Revenue [Line Items]
Schedule of changes in contract liabilities	​ ​ ​ ​ ​ ​ ​ Exhibitor Services (In millions) ​ Agreement Balance December 31, 2019 $ 549.7 Common Unit Adjustment–additions of common units (1) ​ ​ 4.8 Reclassification of the beginning balance to other theatre revenue, as the result of performance obligations satisfied ​ ​ (8.2) Balance June 30, 2020 $ 546.3 (1)

GOODWILL (Tables)

GOODWILL (Tables)	6 Months Ended
	Jun. 30, 2020
GOODWILL.
Schedule of Activity of Goodwill	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (In millions) Domestic Theatres International Theatres ​ Total Balance December 31, 2019 ​ $ 3,072.6 ​ $ 1,716.5 ​ $ 4,789.1 Impairment adjustment ​ ​ (1,124.9) ​ ​ (619.4) ​ ​ (1,744.3) Currency translation adjustment ​ ​ — ​ ​ (56.4) ​ ​ (56.4) Balance June 30, 2020 ​ $ 1,947.7 ​ $ 1,040.7 ​ $ 2,988.4

INVESTMENTS (Tables)

INVESTMENTS (Tables)	6 Months Ended
	Jun. 30, 2020
INVESTMENTS
Schedule of Condensed Financial Information of Non-consolidated Equity Method Investments	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended (In millions) June 30, 2020 June 30, 2019 June 30, 2020 June 30, 2019 Revenues $ (6.4) $ 48.0 $ 19.7 $ 85.7 Operating costs and expenses ​ ​ 31.6 ​ ​ 19.5 ​ ​ 68.8 ​ ​ 38.7 Net earnings (loss) $ (38.0) $ 28.5 $ (49.1) $ 47.0
Schedule of Components of Recorded Equity in Earnings (Losses) of Non-consolidated Entities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended (In millions) June 30, 2020 June 30, 2019 June 30, 2020 June 30, 2019 DCIP ​ $ (9.7) ​ $ 9.0 ​ $ (11.6) ​ $ 14.6 Other ​ (2.7) ​ 1.2 ​ (3.7) ​ 2.1 The Company’s recorded equity in earnings (loss) ​ $ (12.4) ​ $ 10.2 ​ $ (15.3) ​ $ 16.7
Schedule of Related Party Transactions with Equity Method Investees	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of As of (In millions) ​ June 30, 2020 December 31, 2019 Due from DCM for on-screen advertising revenue ​ $ — ​ $ 4.2 Loan receivable from DCM ​ ​ 0.7 ​ ​ 0.7 Due from DCIP for warranty expenditures ​ ​ — ​ ​ 3.5 Due to AC JV for Fathom Events programming ​ ​ (1.0) ​ ​ (0.8) Due from Screenvision for on-screen advertising revenue ​ ​ — ​ ​ 3.4 Due from Nordic JVs ​ ​ 2.3 ​ ​ 2.5 Due to Nordic JVs for management services ​ ​ (2.0) ​ ​ (1.6) Due from SCC related to the joint venture ​ ​ 0.4 ​ ​ 8.3 Due to U.S. theatre partnerships ​ ​ (0.6) ​ ​ (1.0) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended (In millions) ​ Condensed Consolidated Statement of Operations ​ June 30, 2020 June 30, 2019 ​ June 30, 2020 June 30, 2019 DCM screen advertising revenues ​ Other revenues ​ $ — ​ $ 5.3 ​ $ 3.6 ​ $ 9.2 DCIP equipment rental expense ​ Operating expense ​ ​ (0.4) ​ ​ 0.8 ​ ​ 0.9 ​ ​ 1.9 Gross exhibition cost on AC JV Fathom Events programming ​ Film exhibition costs ​ — ​ ​ 2.8 ​ 3.2 ​ ​ 10.1 Screenvision screen advertising revenues ​ Other revenues ​ ​ — ​ ​ 4.2 ​ ​ 2.1 ​ ​ 7.7

CORPORATE BORROWINGS (Tables)

CORPORATE BORROWINGS (Tables)	6 Months Ended
	Jun. 30, 2020
Summary of the carrying value of corporate borrowings and capital and financing lease obligations	​ ​ ​ ​ ​ ​ ​ ​ (In millions) June 30, 2020 December 31, 2019 Senior Secured Credit Facility-Term Loan due 2026 (4.08% as of June 30, 2020) ​ $ 1,975.0 ​ $ 1,985.0 Revolving Credit Facility Due 2024 (range of 2.36% to 2.87% as of June 30, 2020) ​ ​ 213.2 ​ ​ — 10.5% First Lien Notes due 2025 ​ ​ 500.0 ​ ​ — Odeon Revolving Credit Facility Due 2022 (3.17% as of June 30, 2020) ​ ​ 84.4 ​ ​ — Odeon Revolving Credit Facility Due 2022 (2.6% as of June 30, 2020) ​ ​ 24.4 ​ ​ — 2.95% Senior Unsecured Convertible Notes due 2024 ​ ​ 600.0 ​ ​ 600.0 6.375% Senior Subordinated Notes due 2024 (£500 million par value) ​ ​ 614.4 ​ ​ 655.8 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 ​ ​ $ 5,681.4 ​ $ 4,910.8 Finance lease obligations ​ 93.9 ​ 99.9 Debt issuance costs ​ ​ (90.0) ​ ​ (88.8) Net discounts ​ ​ (73.4) ​ ​ (69.1) Derivative liability ​ ​ — ​ ​ 0.5 ​ ​ $ 5,611.9 ​ $ 4,853.3 Less: ​ ​ ​ ​ ​ ​ Current maturities corporate borrowings ​ ​ (20.0) ​ (20.0) Current maturities finance lease obligations ​ ​ (10.0) ​ ​ (10.3) ​ ​ $ 5,581.9 ​ $ 4,823.0
Schedule of minimum annual payments required under existing capital and financing lease obligations (net present value thereof) and maturities of corporate borrowings	​ ​ ​ ​ ​ ​ ​ Principal ​ ​ Amount of ​ ​ Corporate (In millions) Borrowings Six months ended December 31, 2020 ​ $ 10.0 2021 ​ ​ 20.0 2022 ​ 128.8 2023 ​ 20.0 2024 ​ 1,447.6 2025 ​ 1,120.0 Thereafter ​ 2,935.0 Total ​ $ 5,681.4
2.95% Senior Unsecured Convertible Notes due 2024
Summary of the carrying value of corporate borrowings and capital and financing lease obligations	The table below sets forth the carrying value of the Senior Unsecured Convertible Notes due 2024: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Carrying Value ​ Increase ​ Carrying Value ​ ​ as of ​ to Expense ​ as of (In millions) ​ December 31, 2019 ​ (Income) ​ June 30, 2020 Principal balance ​ $ 600.0 ​ $ — ​ $ 600.0 Discount ​ ​ (73.7) ​ ​ 6.8 ​ ​ (66.9) Debt issuance costs ​ ​ (11.2) ​ ​ 0.9 ​ ​ (10.3) Derivative liability ​ ​ 0.5 ​ ​ (0.5) ​ ​ — Carrying value ​ $ 515.6 ​ $ 7.2 ​ $ 522.8

STOCKHOLDERS' EQUITY (Tables)

STOCKHOLDERS' EQUITY (Tables)	6 Months Ended
	Jun. 30, 2020
STOCKHOLDERS' EQUITY
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 26, 2020 ​ March 9, 2020 ​ March 23, 2020 ​ $ 0.03 ​ $ 3.2
Schedule of Stockholder's Equity	Condensed Consolidated Statements of Stockholders’ Equity For the Six Months Ended June 30, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accumulated ​ ​ ​ ​ ​ ​ ​ ​ Class A Voting ​ Class B Voting ​ Additional ​ ​ ​ ​ ​ ​ Other ​ Accumulated ​ Total ​ ​ Common Stock ​ Common Stock ​ Paid-in ​ Treasury Stock ​ Comprehensive ​ Earnings ​ Stockholders’ (In millions, except share and per share data) Shares Amount Shares Amount Capital ​ Shares Amount Income (Loss) (Deficit) Equity (Deficit) Balances December 31, 2019 ​ 52,080,077 ​ $ 0.5 ​ 51,769,784 ​ $ 0.5 ​ $ 2,001.9 ​ 3,732,625 ​ $ (56.4) ​ $ (26.1) ​ $ (706.2) ​ $ 1,214.2 Cumulative effect adjustment for the adoption of new accounting principle (ASU 2016-13) ​ — ​ ​ — ​ — ​ ​ — ​ ​ — ​ — ​ ​ — ​ ​ — ​ ​ (16.9) ​ ​ (16.9) Net loss ​ — ​ ​ — ​ — ​ ​ — ​ ​ — ​ — ​ ​ — ​ ​ — ​ ​ (2,176.3) ​ ​ (2,176.3) Other comprehensive loss ​ — ​ ​ — ​ — ​ ​ — ​ ​ — ​ — ​ ​ — ​ ​ (93.5) ​ ​ — ​ ​ (93.5) Dividends declared: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Class A common stock, $0.20/share, net of forfeitures ​ — ​ ​ — ​ — ​ ​ — ​ ​ — ​ — ​ ​ — ​ ​ — ​ ​ (1.6) ​ ​ (1.6) Class B common stock, $0.20/share ​ — ​ ​ — ​ — ​ ​ — ​ ​ — ​ — ​ ​ — ​ ​ — ​ ​ (1.6) ​ ​ (1.6) Taxes paid for restricted unit withholdings ​ — ​ ​ — ​ — ​ ​ — ​ ​ (1.0) ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ (1.0) Stock-based compensation ​ 469,516 ​ ​ — ​ — ​ ​ — ​ ​ 2.7 ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 2.7 Balances March 31, 2020 ​ 52,549,593 ​ $ 0.5 ​ 51,769,784 ​ $ 0.5 ​ $ 2,003.6 ​ 3,732,625 ​ $ (56.4) ​ $ (119.6) ​ $ (2,902.6) ​ $ (1,074.0) Net loss ​ — ​ ​ — ​ — ​ ​ — ​ ​ — ​ — ​ ​ — ​ ​ — ​ ​ (561.2) ​ ​ (561.2) Other comprehensive income ​ — ​ ​ — ​ — ​ ​ — ​ ​ — ​ — ​ ​ — ​ ​ 56.0 ​ ​ — ​ ​ 56.0 Dividends declared: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Class A common stock, $0.20/share, net of forfeitures ​ — ​ ​ — ​ — ​ ​ — ​ ​ — ​ — ​ ​ — ​ ​ — ​ ​ 0.1 ​ ​ 0.1 Stock-based compensation ​ — ​ ​ — ​ — ​ ​ — ​ ​ 3.7 ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 3.7 Balances June 30, 2020 ​ 52,549,593 ​ $ 0.5 ​ 51,769,784 ​ $ 0.5 ​ $ 2,007.3 ​ 3,732,625 ​ $ (56.4) ​ $ (63.6) ​ $ (3,463.7) ​ $ (1,575.4) ​ ​ ​ Condensed Consolidated Statements of Stockholders’ Equity For the Six Months Ended June 30, 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accumulated ​ ​ ​ ​ ​ ​ ​ ​ Class A Voting ​ Class B Voting ​ Additional ​ ​ ​ ​ ​ ​ Other ​ Accumulated ​ Total ​ ​ Common Stock ​ Common Stock ​ Paid-in ​ Treasury Stock ​ Comprehensive ​ Earnings ​ Stockholders’ (In millions, except share and per share data) Shares Amount Shares Amount Capital ​ Shares Amount Income (Loss) (Deficit) Equity Balances December 31, 2018 ​ 55,401,325 ​ $ 0.5 ​ 51,769,784 ​ $ 0.5 ​ $ 1,998.4 ​ 3,732,625 ​ $ (56.4) ​ $ 5.5 ​ $ (550.9) ​ $ 1,397.6 Cumulative effect adjustments for the adoption of new accounting principle (ASU 842) ​ — ​ ​ — ​ — ​ ​ — ​ ​ — ​ — ​ ​ — ​ ​ — ​ ​ 78.8 ​ ​ 78.8 Net loss ​ — ​ ​ — ​ — ​ ​ — ​ ​ — ​ — ​ ​ — ​ ​ — ​ ​ (130.2) ​ ​ (130.2) Other comprehensive loss ​ — ​ ​ — ​ — ​ ​ — ​ ​ — ​ — ​ ​ — ​ ​ (24.9) ​ ​ — ​ ​ (24.9) Dividends declared: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Class A common stock, $0.20/share ​ — ​ ​ — ​ — ​ ​ — ​ ​ — ​ — ​ ​ — ​ ​ — ​ ​ (10.7) ​ ​ (10.7) Class B common stock, $0.20/share ​ — ​ ​ — ​ — ​ ​ — ​ ​ — ​ — ​ ​ — ​ ​ — ​ ​ (10.4) ​ ​ (10.4) Taxes paid for restricted unit withholdings ​ — ​ ​ — ​ — ​ ​ — ​ ​ (1.1) ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ (1.1) Reclassification from temporary equity ​ 75,712 ​ ​ — ​ — ​ ​ — ​ ​ 0.4 ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 0.4 Stock-based compensation ​ 328,904 ​ ​ — ​ — ​ ​ — ​ ​ 4.0 ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 4.0 Balances March 31, 2019 ​ 55,805,941 ​ $ 0.5 ​ 51,769,784 ​ $ 0.5 ​ $ 2,001.7 ​ 3,732,625 ​ $ (56.4) ​ $ (19.4) ​ $ (623.4) ​ $ 1,303.5 Cumulative effect adjustments for the adoption of new accounting principle (ASU 842) ​ — ​ ​ — ​ — ​ ​ — ​ ​ — ​ — ​ ​ — ​ ​ — ​ ​ (2.6) ​ ​ (2.6) Net earnings ​ — ​ ​ — ​ — ​ ​ — ​ ​ — ​ — ​ ​ — ​ ​ — ​ ​ 49.4 ​ ​ 49.4 Other comprehensive loss ​ — ​ ​ — ​ — ​ ​ — ​ ​ — ​ — ​ ​ — ​ ​ (9.2) ​ ​ — ​ ​ (9.2) Dividends declared: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Class A common stock, $0.20/share, net of forfeitures ​ — ​ ​ — ​ — ​ ​ — ​ ​ — ​ — ​ ​ — ​ ​ — ​ ​ (10.7) ​ ​ (10.7) Class B common stock, $0.20/share ​ — ​ ​ — ​ — ​ ​ — ​ ​ — ​ — ​ ​ — ​ ​ — ​ ​ (10.4) ​ ​ (10.4) Taxes paid for restricted unit withholdings ​ — ​ ​ — ​ — ​ ​ — ​ ​ (0.3) ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ (0.3) Stock-based compensation ​ 3,096 ​ ​ — ​ — ​ ​ — ​ ​ 5.4 ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 5.4 Balances June 30, 2019 ​ 55,809,037 ​ $ 0.5 ​ 51,769,784 ​ $ 0.5 ​ $ 2,006.8 ​ 3,732,625 ​ $ (56.4) ​ $ (28.6) ​ $ (597.7) ​ $ 1,325.1

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	6 Months Ended
	Jun. 30, 2020
FAIR VALUE MEASUREMENTS
Schedule of Fair Value Hierarchy of Financial Assets Carried at Fair Value on a Recurring Basis	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurements at June 30, 2020 Using ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Significant ​ Total Carrying Quoted prices in Significant other unobservable ​ ​ Value at ​ active market ​ observable inputs ​ inputs (In millions) ​ June 30, 2020 ​ (Level 1) ​ (Level 2) ​ (Level 3) Other long-term assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Money market mutual funds ​ $ 1.4 ​ $ 1.4 ​ $ — ​ $ — Derivative asset ​ ​ 24.3 ​ ​ — ​ ​ — ​ ​ 24.3 Investments measured at net asset value ​ ​ 10.7 ​ — ​ — ​ — Marketable equity securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Investment in NCM ​ ​ 4.1 ​ ​ 4.1 ​ ​ — ​ ​ — Total assets at fair value ​ $ 40.5 ​ $ 5.5 ​ $ — ​ $ 24.3 (1) The investments relate to non-qualified deferred compensation arrangements 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 March 31, 2020 ​ ​ ​ ​ ​ ​ Significant other Significant ​ ​ ​ ​ Total Carrying ​ Quoted prices in ​ observable ​ unobservable ​ ​ ​ ​ ​ Value at ​ active market ​ inputs ​ inputs ​ Total (In millions) March 31, 2020 (Level 1) (Level 2) (Level 3) Losses Property, net: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Property net ​ $ 40.5 ​ $ — ​ $ — ​ $ 40.5 ​ $ 30.9 Operating lease right-of-use assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating lease right-of-use assets ​ ​ 124.0 ​ ​ — ​ ​ — ​ ​ 124.0 ​ ​ 60.4 Intangible assets, net ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Definite-lived intangible assets ​ ​ 6.6 ​ ​ — ​ ​ — ​ ​ 6.6 ​ ​ 8.0 Indefinite-lived intangible assets ​ ​ 50.3 ​ ​ — ​ ​ — ​ ​ 50.3 ​ ​ 8.3 Goodwill ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Goodwill ​ ​ 2,938.0 ​ ​ — ​ ​ — ​ ​ 2,938.0 ​ ​ 1,744.3 Other long-term assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cost method investments ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 7.2 Total ​ $ 3,159.4 ​ $ — ​ $ — ​ $ 3,159.4 ​ ​ 1,859.1
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 June 30, 2020 ​ ​ ​ ​ Significant other Significant ​ ​ Total Carrying ​ Quoted prices in ​ observable ​ unobservable ​ ​ Value at ​ active market ​ inputs ​ inputs (In millions) ​ June 30, 2020 ​ (Level 1) ​ (Level 2) ​ (Level 3) Current maturities of corporate borrowings ​ $ 20.0 ​ $ — ​ $ 14.6 ​ $ — Corporate borrowings ​ 5,498.0 ​ — ​ 2,854.0 ​ ​ 180.8

OPERATING SEGMENT (Tables)

OPERATING SEGMENT (Tables)	6 Months Ended
	Jun. 30, 2020
OPERATING SEGMENTS
Schedule of financial information by reportable operating segment	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended Revenues (In millions) June 30, 2020 ​ June 30, 2019 ​ June 30, 2020 June 30, 2019 U.S. markets ​ $ 15.7 ​ $ 1,161.2 ​ $ 677.0 $ 2,028.4 International markets ​ ​ 3.2 ​ ​ 344.9 ​ ​ 283.4 ​ 678.1 Total revenues ​ $ 18.9 ​ $ 1,506.1 ​ $ 960.4 $ 2,706.5 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended Adjusted EBITDA (1) (In millions) June 30, 2020 June 30, 2019 ​ June 30, 2020 June 30, 2019 U.S. markets ​ $ (241.6) ​ $ 202.1 ​ $ (245.4) ​ $ 279.5 International markets ​ ​ (98.7) ​ ​ 35.5 ​ ​ (91.8) ​ ​ 66.3 Total Adjusted EBITDA ​ $ (340.3) ​ $ 237.6 ​ $ (337.2) ​ $ 345.8 (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 (benefit), (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. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended Capital Expenditures (In millions) June 30, 2020 June 30, 2019 ​ June 30, 2020 June 30, 2019 U.S. markets ​ $ 24.9 ​ $ 84.1 ​ $ 81.8 ​ $ 159.6 International markets ​ ​ 10.1 ​ ​ 31.0 ​ ​ 44.9 ​ ​ 70.3 Total capital expenditures ​ $ 35.0 ​ $ 115.1 ​ $ 126.7 ​ $ 229.9
Schedule of information about the Company's revenues from continuing operations and assets by geographic area	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of ​ As of Long-term assets, net (In millions) ​ June 30, 2020 ​ December 31, 2019 U.S. markets ​ $ 7,532.1 ​ $ 9,039.6 International markets ​ ​ 3,059.8 ​ ​ 3,963.1 Total long-term assets ​ $ 10,591.9 ​ $ 13,002.7 (1) Long-term assets are comprised of property, operating lease right-of-use assets, intangible assets, goodwill, deferred tax assets, and other long-term assets.
Schedule of reconciliation of net earnings to Adjusted EBITDA	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended (In millions) ​ June 30, 2020 ​ June 30, 2019 June 30, 2020 ​ June 30, 2019 Net earnings (loss) ​ $ (561.2) ​ $ 49.4 ​ $ (2,737.5) ​ $ (80.8) Plus: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Income tax provision (benefit) ​ (6.1) ​ 5.4 ​ 62.1 ​ 11.1 Interest expense ​ 91.2 ​ 86.4 ​ 174.0 ​ 170.0 Depreciation and amortization ​ 119.7 ​ 112.0 ​ 242.2 ​ 225.0 Impairment of long-lived assets, indefinite-lived intangible assets and goodwill ​ — ​ — ​ 1,851.9 ​ — Certain operating expenses ​ (1.5) ​ 2.3 ​ 0.6 ​ 4.8 Equity in (earnings) loss of non-consolidated entities ​ 12.4 ​ (10.2) ​ 15.3 ​ (16.7) Cash distributions from non-consolidated entities ​ 6.1 ​ 1.8 ​ 13.7 ​ 12.3 Attributable EBITDA ​ ​ 0.6 ​ ​ 2.0 ​ ​ 0.5 ​ ​ 2.9 Investment expense (income) ​ (1.3) ​ (2.1) ​ 8.1 ​ (18.2) Other expense (income) ​ (1.9) ​ (23.8) ​ 25.0 ​ 6.1 Other non-cash rent ​ ​ (3.8) ​ ​ 5.8 ​ ​ (1.5) ​ ​ 13.4 General and administrative — unallocated: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Merger, acquisition and other costs ​ 1.8 ​ 3.2 ​ 2.0 ​ 6.5 Stock-based compensation expense ​ 3.7 ​ 5.4 ​ 6.4 ​ 9.4 Adjusted EBITDA ​ $ (340.3) ​ $ 237.6 ​ $ (337.2) ​ $ 345.8 (1) For information regarding the income tax provision, see Note 8 — Income Taxes. (2) During the six months ended June 30, 2020, the Company recorded non-cash impairment charges of $1,124.9 million and $619.4 million related to the enterprise fair values of its Domestic Theatres and International Theatres reporting units, respectively. The Company recorded non-cash impairment charges related to its long-lived assets of $81.4 million on 57 theatres in the U.S. markets with 658 screens which were related to property, net, operating lease right-of-use assets, net and other long-term assets and $9.9 million on 23 theatres in the International markets with 213 screens which were related to property, net and operating lease right-of-use assets, net, during the six months ended June 30, 2020. The Company recorded non-cash impairment charges related to its indefinite-lived intangible assets of $5.9 million and $2.4 million related to the Odeon and Nordic tradenames, respectively, during the six months ended June 30, 2020. The Company also recorded non-cash impairment charges of $8.0 million related to its definite-lived intangible assets. (3) 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 or are non-operating in nature. (4) Equity in (earnings) loss of non-consolidated entities was primarily due to equity in loss from DCIP of $9.7 million for the three months ended June 30, 2020 compared to equity in earnings from DCIP of $9.0 million for the three months ended June 30, 2019. Equity in (earnings) loss of non-consolidated entities was primarily due to equity in loss from DCIP of $11.6 million for the six months ended June 30, 2020 compared to equity in earnings from DCIP of $14.6 million for the six months ended June 30, 2019. (5) 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. (6) 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. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended ​ (In millions) ​ June 30, 2020 June 30, 2019 June 30, 2020 June 30, 2019 ​ Equity in (earnings) loss of non-consolidated entities ​ $ 12.4 ​ $ (10.2) ​ $ 15.3 ​ $ (16.7) ​ Less: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity in (earnings) loss of non-consolidated entities excluding International theatre joint ventures ​ ​ 12.2 ​ ​ (9.8) ​ ​ 14.3 ​ ​ (15.8) ​ Equity in earnings (loss) of International theatre joint ventures ​ ​ (0.2) ​ ​ 0.4 ​ ​ (1.0) ​ ​ 0.9 ​ Income tax provision (benefit) ​ ​ — ​ ​ 0.1 ​ ​ (0.1) ​ ​ 0.1 ​ Investment income ​ ​ — ​ ​ (0.3) ​ ​ (0.2) ​ ​ (0.5) ​ Interest expense ​ ​ — ​ ​ 0.1 ​ ​ — ​ ​ 0.1 ​ Depreciation and amortization ​ ​ 0.7 ​ ​ 1.7 ​ ​ 1.5 ​ ​ 2.3 ​ Other expense ​ ​ 0.1 ​ ​ — ​ ​ 0.3 ​ ​ — ​ Attributable EBITDA ​ $ 0.6 ​ $ 2.0 ​ $ 0.5 ​ $ 2.9 ​ ​ (7) Other income for the three months ended June 30, 2020 compared to three months ended June 30, 2019 decreased $21.9 million. For the three months ended June 30, 2019, the Company recorded a gain of $33.9 million related to the change in fair value of the Company’s derivative liability for the embedded conversion feature in the Company’s Convertible Notes due 2024, partially offset by the loss on repayment of indebtedness of $16.6 million. Other expense for the six months ended June 30, 2020 compared to six months ended June 30, 2019 increased $18.9 million, primarily due to the decrease in the gain recorded for the change in fair value of the Company’s derivative liability for the embedded conversion feature in the Company’s Convertible Notes due 2024 of $20.1 million, credit losses related to contingent lease guarantees of $9.2 million, and loss due to the change in the 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 $5.7 million. For the six months ended June 30, 2019, the Company recorded a loss on repayment of indebtedness of $16.6 million. See Note 1 —Basis of Presentation for further information related to other expense (income). (8) Reflects amortization expense for certain intangible assets reclassified from depreciation and amortization to rent expense due to the adoption of ASC 842 and deferred rent benefit related to the impairment of right-of-use operating lease assets. ​ (9) Merger, acquisition and other costs are excluded as they are non-operating in nature. ​ (10) Non-cash expense included in general and administrative: other

EARNINGS (LOSS) PER SHARE (Tabl

EARNINGS (LOSS) PER SHARE (Tables)	6 Months Ended
	Jun. 30, 2020
EARNINGS (LOSS) PER SHARE
Schedule of Computation of basic and diluted earnings (loss) per common share	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended (In millions) June 30, 2020 June 30, 2019 June 30, 2020 June 30, 2019 Numerator: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net earnings (loss) for basic earnings (loss) per share ​ $ (561.2) ​ $ 49.4 ​ $ (2,737.5) ​ $ (80.8) Calculation of net earnings (loss) for diluted earnings (loss) per share: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Marked-to-market gain on derivative liability ​ ​ — ​ ​ (33.9) ​ ​ — ​ ​ — Interest expense for Convertible Notes due 2024 ​ ​ — ​ ​ 8.1 ​ ​ — ​ ​ — Net earnings (loss) for diluted earnings (loss) per share ​ $ (561.2) ​ $ 23.6 ​ $ (2,737.5) ​ $ (80.8) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Denominator ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average shares for basic loss per common share ​ 104,319 ​ 103,845 ​ 104,282 ​ 103,814 Common equivalent shares for RSUs and PSUs ​ — ​ 21 ​ — ​ — Common equivalent shares if converted: convertible notes 2024 ​ ​ — ​ ​ 31,662 ​ ​ — ​ ​ — Weighted average shares for diluted earnings (loss) per common share ​ 104,319 ​ 135,528 ​ 104,282 ​ 103,814 Basic earnings (loss) per common share ​ $ (5.38) ​ $ 0.48 ​ $ (26.25) ​ $ (0.78) Diluted earnings (loss) per common share ​ $ (5.38) ​ $ 0.17 ​ $ (26.25) ​ $ (0.78)

CONDENSED CONSOLIDATING FINANCI

CONDENSED CONSOLIDATING FINANCIAL INFORMATION (Tables)	6 Months Ended
	Jun. 30, 2020
CONDENSED CONSOLIDATING FINANCIAL INFORMATION
Schedule of Condensed Statements of Operations	Condensed Consolidating Statement of Operations Three Months Ended June 30, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Subsidiary ​ Subsidiary ​ Consolidating ​ Consolidated (In millions) ​ Holdings ​ Guarantors ​ Non-Guarantors ​ Adjustments ​ Holdings Revenues ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Admissions ​ $ — ​ $ — ​ $ 0.9 ​ $ — ​ $ 0.9 Food and beverage ​ — ​ — ​ 0.4 ​ — ​ 0.4 Other theatre ​ — ​ 15.7 ​ 1.9 ​ — ​ 17.6 Total revenues ​ — ​ 15.7 ​ 3.2 ​ — ​ 18.9 Operating costs and expenses ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Film exhibition costs ​ — ​ (0.2) ​ 0.4 ​ — ​ 0.2 Food and beverage costs ​ — ​ 3.3 ​ 1.2 ​ — ​ 4.5 Operating expense, excluding depreciation and amortization ​ — ​ 79.4 ​ 35.4 ​ — ​ 114.8 Rent ​ — ​ 164.8 ​ 59.3 ​ — ​ 224.1 General and administrative: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Merger, acquisition and other costs ​ — ​ 1.7 ​ 0.1 ​ — ​ 1.8 Other, excluding depreciation and amortization ​ — ​ 13.8 ​ 11.6 ​ — ​ 25.4 Depreciation and amortization ​ ​ — ​ 91.0 ​ 28.7 ​ — ​ 119.7 Operating costs and expenses ​ — ​ 353.8 ​ 136.7 ​ — ​ 490.5 Operating loss ​ — ​ (338.1) ​ (133.5) ​ — ​ (471.6) Other expense (income): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity in net loss of subsidiaries ​ 569.8 ​ 125.0 ​ — ​ (694.8) ​ — Other expense (income): ​ ​ (6.6) ​ ​ 6.7 ​ ​ (6.7) ​ ​ — ​ ​ (6.6) Interest expense: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Corporate borrowings ​ 78.3 ​ 79.1 ​ 1.4 ​ (79.2) ​ 79.6 Finance lease obligations ​ — ​ 0.3 ​ 1.2 ​ — ​ 1.5 Non-cash NCM exhibitor service agreement ​ ​ — ​ ​ 10.1 ​ ​ — ​ ​ — ​ ​ 10.1 Intercompany interest expense ​ ​ — ​ ​ — ​ ​ 6.1 ​ ​ (6.1) ​ ​ — Equity in loss of non-consolidated entities ​ — ​ 11.4 ​ 1.0 ​ — ​ 12.4 Investment income ​ (80.3) ​ (5.3) ​ (1.0) ​ 85.3 ​ (1.3) Total other expense, net ​ 561.2 ​ 227.3 ​ 2.0 ​ (694.8) ​ 95.7 Loss before income taxes ​ (561.2) ​ (565.4) ​ (135.5) ​ 694.8 ​ (567.3) Income tax provision (benefit) ​ — ​ 4.4 ​ (10.5) ​ — ​ (6.1) Net loss ​ $ (561.2) ​ $ (569.8) ​ $ (125.0) ​ $ 694.8 ​ $ (561.2) ​ ​ Condensed Consolidating Statement of Operations Three Months Ended June 30, 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Subsidiary ​ Subsidiary ​ Consolidating ​ Consolidated (In millions) ​ Holdings ​ Guarantors ​ Non-Guarantors ​ Adjustments ​ Holdings Revenues ​ ​ ​ ​ ​ Admissions ​ $ — ​ $ 680.7 ​ $ 214.8 ​ $ — ​ $ 895.5 Food and beverage ​ — ​ 401.1 ​ 91.4 ​ — ​ 492.5 Other theatre ​ — ​ 79.4 ​ 38.7 ​ — ​ 118.1 Total revenues ​ — ​ 1,161.2 ​ 344.9 ​ — ​ 1,506.1 Operating costs and expenses ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Film exhibition costs ​ — ​ 390.2 ​ 92.3 ​ — ​ 482.5 Food and beverage costs ​ — ​ 56.1 ​ 20.3 ​ — ​ 76.4 Operating expense, excluding depreciation and amortization ​ — ​ 320.9 ​ 116.5 ​ — ​ 437.4 Rent ​ — ​ 179.6 ​ 66.3 ​ — ​ 245.9 General and administrative: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Merger, acquisition and other costs ​ — ​ 2.4 ​ 0.8 ​ — ​ 3.2 Other, excluding depreciation and amortization ​ — ​ 24.9 ​ 18.3 ​ — ​ 43.2 Depreciation and amortization ​ — ​ 84.2 ​ 27.8 ​ — ​ 112.0 Operating costs and expenses ​ — ​ 1,058.3 ​ 342.3 ​ — ​ 1,400.6 Operating income ​ — ​ 102.9 ​ 2.6 ​ — ​ 105.5 Other expense (income): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity in net loss of subsidiaries ​ 9.1 ​ 18.2 ​ — ​ (27.3) ​ — Other expense (income) ​ ​ (40.9) ​ ​ 17.7 ​ ​ (0.2) ​ ​ — ​ ​ (23.4) Interest expense: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Corporate borrowings ​ 73.6 ​ 74.4 ​ 0.7 ​ (74.5) ​ 74.2 Finance lease obligations ​ — ​ 0.6 ​ 1.5 ​ — ​ 2.1 Non-cash NCM exhibitor service agreement ​ ​ — ​ ​ 10.1 ​ ​ — ​ ​ — ​ ​ 10.1 Intercompany interest expense ​ ​ — ​ ​ — ​ ​ 21.4 ​ ​ (21.4) ​ ​ — Equity in earnings of non-consolidated entities ​ — ​ (9.9) ​ (0.3) ​ — ​ (10.2) Investment income ​ (91.2) ​ (4.9) ​ (1.9) ​ 95.9 ​ (2.1) Total other expense (income), net ​ (49.4) ​ 106.2 ​ 21.2 ​ (27.3) ​ 50.7 Earnings (loss) before income taxes ​ 49.4 ​ (3.3) ​ (18.6) ​ 27.3 ​ 54.8 Income tax provision (benefit) ​ — ​ 5.8 ​ (0.4) ​ — ​ 5.4 Net earnings (loss) ​ $ 49.4 ​ $ (9.1) ​ $ (18.2) ​ $ 27.3 ​ $ 49.4 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Condensed Consolidating Statement of Operations Six Months Ended June 30, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Subsidiary ​ Subsidiary ​ Consolidating ​ Consolidated (In millions) ​ Holdings ​ Guarantors ​ Non-Guarantors ​ Adjustments ​ Holdings Revenues ​ ​ ​ ​ ​ Admissions ​ $ — ​ $ 389.1 ​ $ 179.8 ​ $ — ​ $ 568.9 Food and beverage ​ — ​ 216.6 ​ 71.9 ​ — ​ 288.5 Other theatre ​ — ​ 71.3 ​ 31.7 ​ — ​ 103.0 Total revenues ​ — ​ 677.0 ​ 283.4 ​ — ​ 960.4 Operating costs and expenses ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Film exhibition costs ​ — ​ 198.7 ​ 73.2 ​ — ​ 271.9 Food and beverage costs ​ — ​ 38.2 ​ 19.7 ​ — ​ 57.9 Operating expense, excluding depreciation and amortization ​ — ​ 331.3 ​ 140.4 ​ — ​ 471.7 Rent ​ — ​ 339.2 ​ 122.7 ​ — ​ 461.9 General and administrative: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Merger, acquisition and other costs ​ — ​ 2.0 ​ — ​ — ​ 2.0 Other, excluding depreciation and amortization ​ — ​ 31.1 ​ 27.5 ​ — ​ 58.6 Depreciation and amortization ​ — ​ 183.4 ​ 58.8 ​ — ​ 242.2 Impairment of long-lived assets, indefinite-lived intangible assets and goodwill ​ ​ — ​ ​ 1,214.3 ​ ​ 637.6 ​ ​ — ​ ​ 1,851.9 Operating costs and expenses ​ — ​ 2,338.2 ​ 1,079.9 ​ — ​ 3,418.1 Operating loss ​ — ​ (1,661.2) ​ (796.5) ​ — ​ (2,457.7) Other expense (income): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity in net loss of subsidiaries ​ 2,728.0 ​ 869.2 ​ — ​ (3,597.2) ​ — Other expense (income) ​ ​ 13.6 ​ ​ 12.0 ​ ​ (5.3) ​ ​ — ​ ​ 20.3 Interest expense: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Corporate borrowings ​ 149.0 ​ 150.1 ​ 2.2 ​ (150.4) ​ 150.9 Finance lease obligations ​ — ​ 0.7 ​ 2.4 ​ — ​ 3.1 Non-cash NCM exhibitor service agreement ​ ​ — ​ ​ 20.0 ​ ​ — ​ ​ — ​ ​ 20.0 Intercompany interest expense ​ ​ — ​ ​ — ​ ​ 12.1 ​ ​ (12.1) ​ ​ — Equity in loss of non-consolidated entities ​ — ​ 13.3 ​ 2.0 ​ — ​ 15.3 Investment income ​ (153.1) ​ — ​ (1.3) ​ 162.5 ​ 8.1 Total other expense, net ​ 2,737.5 ​ 1,065.3 ​ 12.1 ​ (3,597.2) ​ 217.7 Loss before income taxes ​ (2,737.5) ​ (2,726.5) ​ (808.6) ​ 3,597.2 ​ (2,675.4) Income tax provision ​ — ​ 1.5 ​ 60.6 ​ — ​ 62.1 Net loss ​ $ (2,737.5) ​ $ (2,728.0) ​ $ (869.2) ​ $ 3,597.2 ​ $ (2,737.5) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Condensed Consolidating Statement of Operations Six Months Ended June 30, 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Subsidiary ​ Subsidiary ​ Consolidating ​ Consolidated (In millions) ​ Holdings ​ Guarantors ​ Non-Guarantors ​ Adjustments ​ Holdings Revenues ​ ​ ​ ​ ​ Admissions ​ $ — ​ $ 1,196.0 ​ $ 431.0 ​ $ — ​ $ 1,627.0 Food and beverage ​ — ​ 688.7 ​ 172.6 ​ — ​ 861.3 Other theatre ​ — ​ 143.6 ​ 74.6 ​ — ​ 218.2 Total revenues ​ — ​ 2,028.3 ​ 678.2 ​ — ​ 2,706.5 Operating costs and expenses ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Film exhibition costs ​ — ​ 667.5 ​ 180.3 ​ — ​ 847.8 Food and beverage costs ​ — ​ 99.0 ​ 38.9 ​ — ​ 137.9 Operating expense, excluding depreciation and amortization ​ — ​ 606.5 ​ 233.7 ​ — ​ 840.2 Rent ​ — ​ 356.2 ​ 131.7 ​ — ​ 487.9 General and administrative: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Merger, acquisition and other costs ​ — ​ 3.5 ​ 3.0 ​ — ​ 6.5 Other, excluding depreciation and amortization ​ — ​ 52.4 ​ 37.0 ​ — ​ 89.4 Depreciation and amortization ​ — ​ 167.9 ​ 57.1 ​ — ​ 225.0 Operating costs and expenses ​ — ​ 1,953.0 ​ 681.7 ​ — ​ 2,634.7 Operating income (loss) ​ — ​ 75.3 ​ (3.5) ​ — ​ 71.8 Other expense (income): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity in net loss of subsidiaries ​ 303.7 ​ 215.0 ​ — ​ (518.7) ​ — Other expense (income) ​ ​ (12.0) ​ ​ 18.2 ​ ​ 0.2 ​ ​ — ​ ​ 6.4 Interest expense: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Corporate borrowings ​ 144.5 ​ 145.3 ​ 1.4 ​ (145.7) ​ 145.5 Finance lease obligations ​ — ​ 1.4 ​ 2.8 ​ — ​ 4.2 Non-cash NCM exhibitor service agreement ​ ​ — ​ ​ 20.3 ​ ​ — ​ ​ — ​ ​ 20.3 Intercompany interest expense ​ ​ — ​ ​ — ​ ​ 218.9 ​ ​ (218.9) ​ ​ — Equity in earnings of non-consolidated entities ​ — ​ (16.0) ​ (0.7) ​ — ​ (16.7) Investment income ​ (355.4) ​ (14.5) ​ (12.9) ​ 364.6 ​ (18.2) Total other expense (income), net ​ 80.8 ​ 369.7 ​ 209.7 ​ (518.7) ​ 141.5 Loss before income taxes ​ (80.8) ​ (294.4) ​ (213.2) ​ 518.7 ​ (69.7) Income tax provision ​ — ​ 9.3 ​ 1.8 ​ — ​ 11.1 Net loss ​ $ (80.8) ​ $ (303.7) ​ $ (215.0) ​ $ 518.7 ​ $ (80.8)
Schedule of Condensed Statements of Comprehensive Loss	Condensed Consolidating Statement of Comprehensive Loss Three Months Ended June 30, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Subsidiary ​ Subsidiary ​ Consolidating ​ Consolidated (In millions) Holdings Guarantors Non-Guarantors Adjustments Holdings Net loss $ (561.2) $ (569.8) $ (125.0) $ 694.8 $ (561.2) ​ Other comprehensive income (loss): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity in other comprehensive loss of subsidiaries ​ 56.0 ​ 55.0 ​ — ​ (111.0) ​ — ​ Unrealized foreign currency translation adjustments ​ — ​ 0.9 ​ 54.5 ​ — ​ 55.4 ​ Pension adjustments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Realized net loss reclassified into other expense, net of tax ​ ​ — ​ ​ 0.1 ​ ​ 0.5 ​ ​ — ​ ​ 0.6 ​ Other comprehensive income (loss) ​ 56.0 ​ 56.0 ​ 55.0 ​ (111.0) ​ 56.0 ​ Total comprehensive loss ​ $ (505.2) ​ $ (513.8) ​ $ (70.0) ​ $ 583.8 ​ $ (505.2) ​ ​ ​ Condensed Consolidating Statement of Comprehensive Income (Loss) Three Months Ended June 30, 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Subsidiary ​ Subsidiary ​ Consolidating ​ Consolidated (In millions) Holdings Guarantors Non-Guarantors Adjustments Holdings Net earnings (loss) $ 49.4 $ (9.1) $ (18.2) $ 27.3 $ 49.4 ​ Other comprehensive income (loss): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity in other comprehensive loss of subsidiaries ​ (9.2) ​ (4.1) ​ — ​ 13.3 ​ — ​ Unrealized foreign currency translation adjustments ​ — ​ (5.1) ​ (4.2) ​ — ​ (9.3) ​ Realized loss on foreign currency transactions reclassified into other expense, net of tax ​ ​ — ​ ​ 0.1 ​ ​ — ​ ​ — ​ ​ 0.1 ​ Pension adjustments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net gain arising during the period, net of tax ​ ​ — ​ ​ — ​ ​ 0.1 ​ ​ — ​ ​ 0.1 ​ Equity method investee's cash flow hedge: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized net holding loss arising during the period, net of tax ​ — ​ (0.1) ​ — ​ — ​ (0.1) ​ Other comprehensive loss ​ (9.2) ​ (9.2) ​ (4.1) ​ 13.3 ​ (9.2) ​ Total comprehensive income (loss) ​ $ 40.2 ​ $ (18.3) ​ $ (22.3) ​ $ 40.6 ​ $ 40.2 ​ ​ ​ ​ ​ Condensed Consolidating Statement of Comprehensive Loss Six Months Ended June 30, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Subsidiary ​ Subsidiary ​ Consolidating ​ Consolidated (In millions) Holdings Guarantors Non-Guarantors Adjustments Holdings Net loss $ (2,737.5) $ (2,728.0) $ (869.2) $ 3,597.2 $ (2,737.5) ​ Other comprehensive loss: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity in other comprehensive loss of subsidiaries ​ (37.5) ​ (53.6) ​ — ​ 91.1 ​ — ​ Unrealized foreign currency translation adjustment, net of tax ​ ​ — ​ 16.0 ​ (54.2) ​ — ​ (38.2) ​ Pension adjustments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Realized net loss reclassified into other expense, net of tax ​ ​ — ​ ​ 0.1 ​ ​ 0.6 ​ ​ — ​ ​ 0.7 ​ Other comprehensive loss ​ (37.5) ​ (37.5) ​ (53.6) ​ 91.1 ​ (37.5) ​ Total comprehensive loss ​ $ (2,775.0) ​ $ (2,765.5) ​ $ (922.8) ​ $ 3,688.3 ​ $ (2,775.0) ​ ​ ​ Condensed Consolidating Statement of Comprehensive Loss Six Months Ended June 30, 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Subsidiary ​ Subsidiary ​ Consolidating ​ Consolidated (In millions) Holdings Guarantors Non-Guarantors Adjustments Holdings Net loss $ (80.8) $ (303.7) $ (215.0) $ 518.7 $ (80.8) ​ Other comprehensive income (loss): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity in other comprehensive loss of subsidiaries ​ (34.1) ​ (19.3) ​ — ​ 53.4 ​ — ​ Unrealized foreign currency translation adjustment, net of tax ​ — ​ (15.4) ​ (19.3) ​ — ​ (34.7) ​ Realized loss on foreign currency transactions reclassified into other expense, net of tax ​ ​ — ​ ​ 0.6 ​ ​ — ​ ​ — ​ ​ 0.6 ​ Pension and other benefit adjustments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net gain arising during the period, net of tax ​ — ​ 0.1 ​ — ​ — ​ 0.1 ​ Equity method investee's cash flow hedge: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized net holding loss arising during the period, net of tax ​ — ​ (0.1) ​ — ​ — ​ (0.1) ​ Other comprehensive loss ​ (34.1) ​ (34.1) ​ (19.3) ​ 53.4 ​ (34.1) ​ Total comprehensive loss ​ $ (114.9) ​ $ (337.8) ​ $ (234.3) ​ $ 572.1 ​ $ (114.9) ​ ​ ​
Schedule of Condensed Balance Sheets	Condensed Consolidating Balance Sheet As of June 30, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Subsidiary ​ Subsidiary ​ Consolidating ​ Consolidated (In millions) ​ Holdings ​ Guarantors ​ Non-Guarantors ​ Adjustments ​ Holdings Assets ​ ​ ​ ​ ​ Current assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and cash equivalents ​ $ — ​ $ 413.1 ​ $ 84.9 ​ $ — ​ $ 498.0 Restricted cash ​ ​ — ​ ​ — ​ ​ 10.4 ​ ​ — ​ ​ 10.4 Receivables, net ​ — ​ 34.8 ​ 46.9 ​ (11.0) ​ 70.7 Other current assets ​ — ​ 74.1 ​ 26.5 ​ — ​ 100.6 Total current assets ​ — ​ 522.0 ​ 168.7 ​ (11.0) ​ 679.7 Investment in equity of subsidiaries ​ 947.1 ​ 930.2 ​ — ​ (1,877.3) ​ — Property, net ​ — ​ 1,805.7 ​ 611.8 ​ — ​ 2,417.5 Operating lease right-of-use assets, net ​ ​ — ​ ​ 3,327.1 ​ ​ 1,228.2 ​ ​ — ​ ​ 4,555.3 Intangible assets, net ​ — ​ 120.9 ​ 53.4 ​ — ​ 174.3 Intercompany advances ​ 2,911.9 ​ (2,543.8) ​ (368.1) ​ — ​ — Goodwill ​ (2.1) ​ 1,949.8 ​ 1,040.7 ​ — ​ 2,988.4 Deferred tax asset, net ​ — ​ — ​ 0.6 ​ — ​ 0.6 Other long-term assets ​ 32.6 ​ 298.1 ​ 125.1 ​ — ​ 455.8 Total assets ​ $ 3,889.5 ​ $ 6,410.0 ​ $ 2,860.4 ​ $ (1,888.3) ​ $ 11,271.6 Liabilities and Stockholders’ Equity ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accounts payable ​ $ — ​ $ 256.6 ​ $ 190.6 ​ $ (11.1) ​ $ 436.1 Accrued expenses and other liabilities ​ 55.7 ​ 110.3 ​ 91.4 ​ 0.1 ​ 257.5 Deferred revenues and income ​ — ​ 321.9 ​ 84.2 ​ — ​ 406.1 Current maturities of corporate borrowings ​ 20.0 ​ — ​ — ​ — ​ 20.0 Current maturities of finance lease liabilities ​ ​ — ​ ​ 5.7 ​ ​ 4.3 ​ ​ — ​ ​ 10.0 Current maturities of operating lease liabilities ​ ​ — ​ ​ 453.0 ​ ​ 128.5 ​ ​ — ​ ​ 581.5 Total current liabilities ​ 75.7 ​ 1,147.5 ​ 499.0 ​ (11.0) ​ 1,711.2 Corporate borrowings ​ 5,389.2 ​ — ​ 108.8 ​ — ​ 5,498.0 Finance lease liabilities ​ — ​ 13.5 ​ 70.4 ​ — ​ 83.9 Operating lease liabilities ​ ​ — ​ ​ 3,550.6 ​ ​ 1,193.8 ​ ​ — ​ ​ 4,744.4 Exhibitor services agreement ​ — ​ 546.3 ​ — ​ — ​ 546.3 Deferred tax liability, net ​ ​ — ​ ​ 32.1 ​ ​ 11.1 ​ ​ — ​ ​ 43.2 Other long-term liabilities ​ — ​ 172.9 ​ 47.1 ​ — ​ 220.0 Total liabilities ​ 5,464.9 ​ 5,462.9 ​ 1,930.2 ​ (11.0) ​ 12,847.0 Stockholders’ equity (deficit) ​ (1,575.4) ​ 947.1 ​ 930.2 ​ (1,877.3) ​ (1,575.4) Total liabilities and stockholders’ equity ​ $ 3,889.5 ​ $ 6,410.0 ​ $ 2,860.4 ​ $ (1,888.3) ​ $ 11,271.6 ​ Condensed 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 obligations ​ — ​ 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
Schedule of Condensed Statements of Cash Flows	Condensed Consolidating Statement of Cash Flows Six Months Ended June 30, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 ​ $ 46.7 ​ $ (448.6) ​ $ (14.0) ​ $ — ​ $ (415.9) Cash flows from investing activities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Capital expenditures ​ — ​ (81.8) ​ (44.9) ​ — ​ (126.7) Proceeds from disposition of long-term assets ​ — ​ 3.4 ​ 0.3 ​ — ​ 3.7 Investments in non-consolidated entities, net ​ — ​ — ​ (9.3) ​ — ​ (9.3) Other, net ​ — ​ 0.8 ​ — ​ — ​ 0.8 Net cash used in investing activities ​ — ​ (77.6) ​ (53.9) ​ — ​ (131.5) Cash flows from financing activities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Proceeds from issuance of First Lien Notes due 2025 ​ 490.0 ​ — ​ — ​ — ​ 490.0 Borrowings under revolving credit facilities ​ ​ 213.2 ​ ​ — ​ ​ 109.6 ​ ​ — ​ ​ 322.8 Scheduled principal payments under Term Loans ​ ​ (10.0) ​ ​ — ​ ​ — ​ ​ — ​ ​ (10.0) Principal payments under finance lease obligations ​ ​ — ​ ​ (1.3) ​ ​ (1.0) ​ ​ — ​ ​ (2.3) Cash used to pay deferred financing costs ​ (9.3) ​ — ​ — ​ — ​ (9.3) Cash used to pay dividends ​ (4.3) ​ — ​ — ​ — ​ (4.3) Taxes paid for restricted unit withholdings ​ ​ (1.0) ​ ​ — ​ ​ — ​ ​ — ​ ​ (1.0) Change in intercompany advances ​ ​ (684.6) ​ ​ 804.2 ​ ​ (119.6) ​ ​ — ​ ​ — Net cash provided by financing activities ​ (6.0) ​ 802.9 ​ (11.0) ​ — ​ 785.9 Effect of exchange rate changes on cash and cash equivalents and restricted cash ​ (41.0) ​ 41.5 ​ (6.1) ​ — ​ (5.6) Net increase (decrease) in cash and cash equivalents and restricted cash ​ ​ (0.3) ​ 318.2 ​ (85.0) ​ — ​ 232.9 Cash and cash equivalents and restricted cash at beginning of period ​ 0.3 ​ 94.9 ​ 180.3 ​ — ​ 275.5 Cash and cash equivalents and restricted cash at end of period ​ $ — ​ $ 413.1 ​ $ 95.3 ​ $ — ​ $ 508.4 ​ ​ Condensed Consolidating Statement of Cash Flows Six Months Ended June 30, 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 ​ $ 238.9 ​ $ (135.9) ​ $ 50.6 ​ $ — ​ $ 153.6 Cash flows from investing activities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Capital expenditures ​ — ​ (159.6) ​ (70.3) ​ — ​ (229.9) Acquisition of theatre assets ​ ​ — ​ ​ (11.8) ​ ​ — ​ ​ — ​ ​ (11.8) Proceeds from disposition of long-term assets ​ ​ — ​ ​ 6.0 ​ ​ 15.3 ​ ​ — ​ ​ 21.3 Investments in non-consolidated entities, net ​ — ​ (0.1) ​ — ​ — ​ (0.1) Other, net ​ — ​ (0.8) ​ — ​ — ​ (0.8) Net cash used in investing activities ​ — ​ (166.3) ​ (55.0) ​ — ​ (221.3) 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 facilities ​ ​ — ​ ​ — ​ ​ (12.0) ​ ​ — ​ ​ (12.0) Scheduled principal payments under Term Loans ​ (11.9) ​ — ​ — ​ — ​ (11.9) Principal payments under finance lease obligations ​ ​ — ​ ​ (3.6) ​ ​ (2.5) ​ ​ — ​ ​ (6.1) Cash used to pay debt financing fees ​ (11.2) ​ — ​ — ​ — ​ (11.2) Cash used to pay dividends ​ (42.6) ​ — ​ — ​ — ​ (42.6) Taxes paid for restricted unit withholdings ​ ​ (1.3) ​ ​ — ​ ​ — ​ ​ — ​ ​ (1.3) Change in intercompany advances ​ ​ (203.3) ​ ​ 227.7 ​ ​ (24.4) ​ ​ — ​ ​ — Net cash provided by (used in) financing activities ​ (239.7) ​ 224.1 ​ (38.9) ​ — ​ (54.5) Effect of exchange rate changes on cash and cash equivalents and restricted cash ​ 0.8 ​ (0.4) ​ (1.0) ​ — ​ (0.6) Net increase (decrease) in cash and cash equivalents and restricted cash ​ ​ (0.0) ​ (78.5) ​ (44.3) ​ — ​ (122.8) Cash and cash equivalents and restricted cash at beginning of period ​ 0.3 ​ 177.7 ​ 146.0 ​ — ​ 324.0 Cash and cash equivalents and restricted cash at end of period ​ $ 0.3 ​ $ 99.2 ​ $ 101.7 ​ $ — ​ $ 201.2 ​

BASIS OF PRESENTATION (Details)

BASIS OF PRESENTATION (Details) - Wanda	Jun. 30, 2020
Schedule of Equity Method Investments [Line Items]
Ownership percentage	49.63%
Combined voting power held in Holdings (as a percent)	74.72%

BASIS OF PRESENTATION - Covid 1

BASIS OF PRESENTATION - Covid 19 impact (Details) $ / shares in Units, $ in Millions	Jul. 31, 2020USD ($)	Jun. 30, 2020USD ($)item	Jun. 30, 2020USD ($)itemcountry	Jun. 30, 2019item	Jul. 13, 2020USD ($)	Mar. 31, 2020$ / shares
BASIS OF PRESENTATION
Dividend decrease per share | $ / shares						$ 0.17
Debt exchange amount	$ 1,700
International markets
BASIS OF PRESENTATION
Number of theatres reopened | item			37	130
Number of countries theatres reopened | country			9
Number of guests | item		100,000
Covid 19
BASIS OF PRESENTATION
Cash savings from dividend decrease		$ 38.3	$ 38.3
Expected refund			$ 17.4
Covid 19 | Minimum
BASIS OF PRESENTATION
Salary reduction percentage			20.00%
Covid 19 | Maximum
BASIS OF PRESENTATION
Salary reduction percentage			100.00%
Subsequent Events | Incremental First Lien Notes Due 2026
BASIS OF PRESENTATION
Original issue discount					$ 36
Stated interest rate (as a percent)	10.50%				10.50%
Subsequent Events | First Lien Notes due 2026
BASIS OF PRESENTATION
Proceeds from notes	$ 300
Original issue discount	$ 36
Stated interest rate (as a percent)	10.50%
Subsequent Events | Second Lien Notes due 2026
BASIS OF PRESENTATION
Debt exchange amount	$ 1,700
Subsequent Events | Minimum | First Lien Notes due 2026
BASIS OF PRESENTATION
Interest due term	12 months
Subsequent Events | Minimum | Second Lien Notes due 2026
BASIS OF PRESENTATION
Cash savings due to interest paid in cash or in-kind	$ 120
Interest due term	12 months
Stated interest rate (as a percent)	10.00%
Subsequent Events | Maximum | First Lien Notes due 2026
BASIS OF PRESENTATION
Interest due term	18 months
Subsequent Events | Maximum | Second Lien Notes due 2026
BASIS OF PRESENTATION
Cash savings due to interest paid in cash or in-kind	$ 180
Interest due term	18 months
Stated interest rate (as a percent)	12.00%

BASIS OF PRESENTATION - Princip

BASIS OF PRESENTATION - Principles of Consolidation (Details)	6 Months Ended
	Jun. 30, 2020segment
Schedule of Equity Method Investments [Line Items]
Number of reportable segments	2
Consolidated Subsidiaries
Schedule of Equity Method Investments [Line Items]
Noncontrolling interests in consolidated subsidiaries (as a percent)	0.00%

BASIS OF PRESENTATION - AOCL an

BASIS OF PRESENTATION - AOCL and Accumulated Depreciation and Amortization (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Accumulated other comprehensive loss
Balance at the beginning of the period	$ 1,214.2
Balance at the end of the period	(1,575.4)
Accumulated depreciation and amortization
Accumulated depreciation	2,028.7	$ 1,820.1
Accumulated amortization	33.4	$ 22.8
Foreign Currency
Accumulated other comprehensive loss
Balance at the beginning of the period	(8.8)
Other comprehensive loss before reclassifications	(38.2)
Balance at the end of the period	(47)
Pension and Other Benefits
Accumulated other comprehensive loss
Balance at the beginning of the period	(17.3)
Amounts reclassified from accumulated other comprehensive loss	0.7
Balance at the end of the period	(16.6)
Accumulated Other Comprehensive Loss
Accumulated other comprehensive loss
Balance at the beginning of the period	(26.1)
Other comprehensive loss before reclassifications	(38.2)
Amounts reclassified from accumulated other comprehensive loss	0.7
Balance at the end of the period	$ (63.6)

BASIS OF PRESENTATION - Other E

BASIS OF PRESENTATION - Other Expense (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
BASIS OF PRESENTATION
Derivative liability fair value adjustment for embedded conversion feature in the Convertible Notes due 2024		$ (33.9)	$ (0.5)	$ (20.6)
Derivative asset fair value adjustment for contingent call option related to the Class B common stock purchase and cancellation agreement	$ (6.4)	(7.1)	13.7	8
Credit losses related to contingent lease guarantees	3.9		9.2
International governmental assistance due to COVID-19	(4.4)		(4.4)
Loss on Pound sterling forward contract		0.7		1
Foreign currency transactions losses	(2.1)	0.1	(0.1)	0.6
Non-operating components of net periodic benefit cost	0.1	0.4	0.1	0.5
Loss on repayment of indebtedness		16.6		16.6
Financing fees related to modification of debt agreements	2.8		2.8
Other	(0.5)	(0.2)	(0.5)	0.3
Total other expense (income)	$ (6.6)	$ (23.4)	$ 20.3	$ 6.4

BASIS OF PRESENTATION - Impairm

BASIS OF PRESENTATION - Impairment of assets (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2020
BASIS OF PRESENTATION
Impairment of long-lived assets, indefinite-lived intangible assets and goodwill		$ 91.3
Impairment of indefinite-lived intangible assets		8.3
Impairment of definite-lived intangible assets	$ 0	8
Impairment of goodwill		1,744.3
Investment expense		7.2
Total impairment loss		$ 1,859.1

BASIS OF PRESENTATION - Impai_2

BASIS OF PRESENTATION - Impairment narratives (Details) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2020USD ($)	Jun. 30, 2020USD ($)item
Impairment losses
Impairment of long-lived assets, indefinite-lived intangible assets and goodwill		$ 91.3
Impairment of definite-lived intangible assets	$ 0	8
Investment expense		7.2
Impairment of indefinite-lived intangible assets		8.3
Oden Trade Names
Impairment losses
Impairment of indefinite-lived intangible assets	0	5.9
Nordic Trade Names
Impairment losses
Impairment of indefinite-lived intangible assets	0	2.4
U.S.
Impairment losses
Impairment of long-lived assets, indefinite-lived intangible assets and goodwill	0	$ 81.4
Tangible asset impairment, number of theatres | item		57
Tangible asset impairment, number of screens | item		658
International markets
Impairment losses
Impairment of long-lived assets, indefinite-lived intangible assets and goodwill	0	$ 9.9
Tangible asset impairment, number of theatres | item		23
Tangible asset impairment, number of screens | item		213
Investment Income Expense Net
Impairment losses
Investment expense	$ 0	$ 7.2

BASIS OF PRESENTATION - Account

BASIS OF PRESENTATION - Accounting Pronouncements Recently Adopted (Details) - USD ($) $ in Millions	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019	Mar. 31, 2019
BASIS OF PRESENTATION
Cumulative effect adjustments for the adoption of new accounting principles		$ (16.9)	$ (2.6)	$ 78.8
ASU 2016-13
BASIS OF PRESENTATION
Cumulative effect adjustments for the adoption of new accounting principles	$ 16.9

LEASES - Lease costs (Details)

LEASES - Lease costs (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Lessee, Lease, Description [Line Items]
Lease liabilities included in current maturities	$ 6.4		$ 6.4
Deferred and included long-term operating lease liabilities	9.7		9.7
Accounts payable for contractual amounts due	194.8		194.8
Interest on lease liabilities	1.5	$ 2.1	3.1	$ 4.2
Total lease cost	232	275.7	487.7	539.7
Depreciation and amortization
Lessee, Lease, Description [Line Items]
Amortization of finance lease assets	1.7	2.5	3.6	5.2
Finance lease obligations
Lessee, Lease, Description [Line Items]
Interest on lease liabilities	1.5	2.1	3.1	4.2
Theatres | Rent
Lessee, Lease, Description [Line Items]
Operating lease cost	203.9	220.7	420.8	439.6
Variable lease cost	20.2	25.2	41.1	48.3
Theatres | Operating expense
Lessee, Lease, Description [Line Items]
Operating lease cost	0.1	1.2	2.3	2.9
Equipment | Operating expense
Lessee, Lease, Description [Line Items]
Operating lease cost	3.8	3.5	7.7	7
Variable lease cost		19.1	6.5	29.8
Variable lease cost	(0.5)
Office And Other | General and administrative: other
Lessee, Lease, Description [Line Items]
Operating lease cost	$ 1.3	$ 1.4	$ 2.6	$ 2.7

LEASES - Cash flow information

LEASES - Cash flow information (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows used in finance leases	$ (3.1)	$ (4.2)
Operating cash flows used in operating lease cost	(249.8)	(468.2)
Financing cash flows used in finance leases	(2.3)	(6.1)
Landlord contributions:
Operating cashflows provided by operating leases	24.9	64.8
Supplemental disclosure of noncash leasing activities:
Right-of-use assets obtained in exchange for new operating lease liabilities	$ 133.7	$ 115.5

LEASES - Lease terms and discou

LEASES - Lease terms and discount rates (Details)	Jun. 30, 2020
LEASES
Operating leases, weighted average remaining lease term	9 years 10 months 24 days
Finance leases, weighted average remaining lease term	12 years 9 months 18 days
Operating leases, weighted average discount rate	7.50%
Finance leases, weighted average discount rate	6.50%

LEASES - Minimum annual payment

LEASES - Minimum annual payments under leases (Details) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Operating Lease Payments
Six months ending December 31, 2020	$ 470
2021	931.8
2022	866.2
2023	771.6
2024	694.9
2025	645.4
Thereafter	3,185.3
Total lease payments	7,565.2
Less imputed interest	(2,239.3)
Total	5,325.9
Financing Lease Payments
Six months ending December 31, 2020	7.7
2021	16.1
2022	15.6
2023	11.7
2024	9.9
2025	9.3
Thereafter	68.6
Total lease payments	138.9
Less imputed interest	(45)
Total	$ 93.9	$ 99.9

LEASES - Future lease agreement

LEASES - Future lease agreements (Details) $ in Millions	6 Months Ended
	Jun. 30, 2020USD ($)item
Signed lease agreements | $	$ 198.3
Future Lease Commitments
Number of Theatres | item	9
Minimum | Future Lease Commitments
Lessee, Operating Lease, Term of Contract	5 years
Maximum | Future Lease Commitments
Lessee, Operating Lease, Term of Contract	25 years

REVENUE RECOGNITION - Disaggreg

REVENUE RECOGNITION - Disaggregation of revenue (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Disaggregation of Revenue [Line Items]
Revenues	$ 18.9	$ 1,506.1	$ 960.4	$ 2,706.5
Admissions
Disaggregation of Revenue [Line Items]
Revenues	0.9	895.5	568.9	1,627
Food and beverage
Disaggregation of Revenue [Line Items]
Revenues	0.4	492.5	288.5	861.3
Total other theatre
Disaggregation of Revenue [Line Items]
Revenues	17.6	118.1	103	218.2
Advertising
Disaggregation of Revenue [Line Items]
Revenues	14.3	35.7	44	70.2
Other theatre
Disaggregation of Revenue [Line Items]
Revenues	3.3	82.4	59	148
Products and services transferred at point in time
Disaggregation of Revenue [Line Items]
Revenues	3.6	1,410.2	855.4	2,520.2
Products and services transferred over time
Disaggregation of Revenue [Line Items]
Revenues	$ 15.3	$ 95.9	$ 105	$ 186.3

REVENUE RECOGNITION - Receivabl

REVENUE RECOGNITION - Receivables and deferred revenue (Details) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Current assets
Receivables related to contracts with customers	$ 12.6	$ 160.3
Miscellaneous receivables	58.1	93.9
Receivables, net	70.7	254.2
Current liabilities
Deferred revenue related to contracts with customers	401	447.1
Miscellaneous deferred income	5.1	2.1
Deferred revenues and income	$ 406.1	$ 449.2

REVENUE RECOGNITION - Changes i

REVENUE RECOGNITION - Changes in liabilities (Details) - USD ($) shares in Millions, $ in Millions	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Deferred revenues related to contracts with customers
Beginning balance	$ 447.1
Cash received in advance	74.4
Customer loyalty awards accumulated, net of expirations	25.8	$ 29.4
Foreign currency translation adjustment	(2)
Ending balance	401
Exhibitor Services Agreement
Deferred revenues related to contracts with customers
Beginning balance	$ 549.7
Common Unit Adjustment - surrender of common units	4.8
Reclassification revenue, as the result of performance obligations satisfied	$ (8.2)
Ending balance	$ 546.3
Term of amortization of the exhibitor services agreement (ESA) with NCM	30 years
Admissions
Deferred revenues related to contracts with customers
Customer loyalty awards accumulated, net of expirations	$ 4.8
Reclassification revenue, as the result of performance obligations satisfied	(88.3)
Food and beverage
Deferred revenues related to contracts with customers
Customer loyalty awards accumulated, net of expirations	12.5
Reclassification revenue, as the result of performance obligations satisfied	(25.1)
Total other theatre
Deferred revenues related to contracts with customers
Customer loyalty awards accumulated, net of expirations	(0.2)
Reclassification revenue, as the result of performance obligations satisfied	$ (22.2)

REVENUE RECOGNITION - Additiona

REVENUE RECOGNITION - Additional disclosures (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Customer Frequency Program
Deferred revenues and income	$ 406.1	$ 449.2
Gift Card And Ticket Exchange
Customer Frequency Program
Redemption period	24 months
Deferred revenues and income	$ 317.4
Loyalty Program
Customer Frequency Program
Redemption period	24 months
Deferred revenues and income	$ 69.3

GOODWILL (Details)

GOODWILL (Details) $ in Millions	Sep. 14, 2018USD ($)shares	Jun. 30, 2020USD ($)segment	Dec. 31, 2019USD ($)
Goodwill [Roll Forward]
Balance at the beginning of the period		$ 4,789.1
Goodwill impairment		(1,744.3)
Currency translation adjustment		56.4
Balance at the end of the period		$ 2,988.4
Number of reporting units | segment		2
Domestic theatres
Goodwill [Roll Forward]
Balance at the beginning of the period		$ 3,072.6
Goodwill impairment		(1,124.9)
Balance at the end of the period		1,947.7
International theatres
Goodwill [Roll Forward]
Balance at the beginning of the period		1,716.5
Goodwill impairment		(619.4)
Currency translation adjustment		56.4
Balance at the end of the period		1,040.7
Class B common stock
Goodwill [Roll Forward]
Common stock repurchased and cancellation (in shares) | shares	24,057,143
2.95% Senior Unsecured Convertible Notes due 2024
Goodwill [Roll Forward]
Principal balance	$ 600	$ 600	$ 600

INVESTMENTS (Details)

INVESTMENTS (Details) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020USD ($)	Jun. 30, 2019USD ($)	Jun. 30, 2020USD ($)item	Jun. 30, 2019USD ($)
Equity Method Investments Ownership Transactions [Abstract]
Investment expense			$ 7.2
Recorded equity in earnings	$ (12.4)	$ 10.2	$ (15.3)	$ 16.7
U.S.
Investments
Number of theatres with partnership interests | item			4
Europe
Investments
Ownership percentage	50.00%		50.00%
Number of theatres with partnership interests | item			55
DCM
Investments
Ownership percentage	50.00%		50.00%
SV Holdco
Investments
Ownership percentage	18.30%		18.30%
AC JV, LLC
Investments
Ownership percentage	32.00%		32.00%
DCIP
Investments
Ownership percentage	29.00%		29.00%
Equity Method Investments Ownership Transactions [Abstract]
Recorded equity in earnings	$ (9.7)	(9)	$ (11.6)	(14.6)
SSC
Investments
Ownership percentage	10.00%		10.00%
Other
Equity Method Investments Ownership Transactions [Abstract]
Recorded equity in earnings	$ (2.7)	$ 1.2	$ (3.7)	$ 2.1
DCDC
Investments
Ownership percentage	14.60%		14.60%
Maximum
Investments
Ownership percentage	50.00%		50.00%

INVESTMENTS - Sum. Finan. Info

INVESTMENTS - Sum. Finan. Info and Earnings (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Investments
Revenues			$ 19.7	$ 85.7
Operating costs and expenses			68.8	38.7
Net earnings (loss)			(49.1)	47
Recorded equity in earnings	$ (12.4)	$ 10.2	(15.3)	16.7
NCM, Inc and NCM, LLC
Investments
Recorded equity in earnings	(9.7)	9	(11.6)	14.6
DCIP
Investments
Revenues	(6.4)	48
Operating costs and expenses	31.6	19.5
Net earnings (loss)	(38)	28.5
Recorded equity in earnings	(9.7)	(9)	(11.6)	(14.6)
Other
Investments
Recorded equity in earnings	$ (2.7)	$ 1.2	$ (3.7)	$ 2.1

INVESTMENTS - Related Party Tra

INVESTMENTS - Related Party Transactions (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
DCM
Related Party Transactions
Amounts due from affiliate					$ 4.2
Loan receivable from affiliate	$ 0.7		$ 0.7		0.7
DCM | Other revenues
Related Party Transactions
Related party revenues		$ 5.3	3.6	$ 9.2
DCIP
Related Party Transactions
Amounts due from affiliate					3.5
DCIP | Operating expense
Related Party Transactions
Related party expenses		0.8	0.9	1.9
Related party expenses	(0.4)
AC JV, LLC
Related Party Transactions
Amounts due to affiliate	(1)		(1)		(0.8)
AC JV, LLC | Film exhibition costs.
Related Party Transactions
Related party expenses		2.8	3.2	10.1
Screenvision
Related Party Transactions
Amounts due from affiliate					3.4
Screenvision | Other revenues
Related Party Transactions
Related party revenues		$ 4.2	2.1	$ 7.7
Nordic
Related Party Transactions
Amounts due from affiliate	2.3		2.3		2.5
Amounts due to affiliate	(2)		(2)		(1.6)
SSC
Related Party Transactions
Amounts due from affiliate	0.4		0.4		8.3
U.S. theatres and IMAX screen
Related Party Transactions
Amounts due to affiliate	$ (0.6)		$ (0.6)		$ (1)

CORPORATE BORROWINGS - Long-ter

CORPORATE BORROWINGS - Long-term debt and lease obligations (Details) - USD ($) $ in Millions	Apr. 24, 2020	Jun. 30, 2020	Apr. 23, 2020	Apr. 15, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 14, 2018
CORPORATE BORROWINGS
Carrying value of corporate borrowings		$ 5,681.4				$ 4,910.8
Finance lease obligations		93.9				99.9
Debt issuance costs		90				88.8
Net discounts		(73.4)				(69.1)
Derivative liability						0.5
Total long-term debt and finance lease obligations		5,611.9				4,853.3
Current maturities corporate borrowings		(20)				(20)
Current maturities of finance lease liabilities		(10)				(10.3)
Noncurrent portion of long-term debt and finance lease obligations		5,581.9				4,823
Redemption at any time prior to April 15, 2022
CORPORATE BORROWINGS
Debt instrument redemption amount as a percentage of principal amount	100.00%
Senior Secured Credit Facility Term-Loan Due 2026
CORPORATE BORROWINGS
Carrying value of corporate borrowings		$ 1,975				1,985
Stated interest rate (as a percent)		4.08%
2.95% Senior Unsecured Convertible Notes due 2024
CORPORATE BORROWINGS
Carrying value of corporate borrowings		$ 600				600
Debt issuance costs		10.3				11.2	$ 13.6
Net discounts		(66.9)				(73.7)
Derivative liability						$ 0.5	$ 90.4
Stated interest rate (as a percent)					2.95%	2.95%	2.95%
6.375% Senior Subordinated Notes due 2024
CORPORATE BORROWINGS
Carrying value of corporate borrowings		614.4				$ 655.8
Stated interest rate (as a percent)					6.375%	6.375%
Debt instrument face amount		500
5.75 % Senior Subordinated Notes due 2025
CORPORATE BORROWINGS
Carrying value of corporate borrowings		600				$ 600
Stated interest rate (as a percent)					5.75%	5.75%
5.875% Senior Subordinated Notes due 2026
CORPORATE BORROWINGS
Carrying value of corporate borrowings		595				$ 595
Stated interest rate (as a percent)					5.875%	5.875%
6.125% Senior Subordinated Notes due 2027
CORPORATE BORROWINGS
Carrying value of corporate borrowings		475				$ 475
Stated interest rate (as a percent)					6.125%	6.125%
Revolving Credit Facility Due 2024
CORPORATE BORROWINGS
Carrying value of corporate borrowings		$ 213.2
Revolving Credit Facility Due 2024 | Minimum
CORPORATE BORROWINGS
Stated interest rate (as a percent)		2.36%
Revolving Credit Facility Due 2024 | Maximum
CORPORATE BORROWINGS
Stated interest rate (as a percent)		2.87%
First Lien Notes due 2025
CORPORATE BORROWINGS
Carrying value of corporate borrowings		$ 500
Debt issuance costs	$ 8.9
Noncurrent portion of long-term debt and finance lease obligations				$ 10
Stated interest rate (as a percent)	10.50%	10.50%	10.50%	10.50%		10.50%
Debt instrument face amount	$ 500		$ 50
Percentage of voting of foreign subsidiary	65.00%
Debt Instrument, Redemption Price as Percentage of Principal Amount	105.25%
Redemption term of notes period	120 days
First Lien Notes due 2025 | Redemption at any time on or after April 15, 2022
CORPORATE BORROWINGS
Debt instrument redemption amount as a percentage of principal amount	110.50%
First Lien Notes due 2025 | Maximum
CORPORATE BORROWINGS
Debt Instrument, Redemption Price as Percentage of Principal Amount	35.00%
Odeon Revolving Credit Facility Due 2022 - 3.17%
CORPORATE BORROWINGS
Carrying value of corporate borrowings		$ 84.4
Stated interest rate (as a percent)		3.17%
Odeon Revolving Credit Facility Due 2022 - 2.6%
CORPORATE BORROWINGS
Carrying value of corporate borrowings		$ 24.4
Stated interest rate (as a percent)		2.60%

CORPORATE BORROWINGS AND CAPITA

CORPORATE BORROWINGS AND CAPITAL AND FINANCING LEASE OBLIGATIONS - Maturities of corporate borrowings (Details) $ in Millions	Jun. 30, 2020USD ($)
Principal Amount of Corporate Borrowings
Six months ended December 31, 2020	$ 10
2021	20
2022	128.8
2023	20
2024	1,447.6
2025	1,120
Thereafter	2,935
Total borrowings net	$ 5,681.4

CORPORATE BORROWINGS - Senior U

CORPORATE BORROWINGS - Senior Unsecured Convertible Notes (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019	Sep. 14, 2018
CORPORATE BORROWINGS
Discount	$ (73.4)		$ (73.4)		$ (69.1)
Debt issuance costs	(90)		(90)		(88.8)
Derivative liability					0.5
Amortization of net discount on corporate borrowings			6.6	$ 5
Amortization of debt issuance costs			8.4	7.8
2.95% Senior Unsecured Convertible Notes due 2024
CORPORATE BORROWINGS
Principal balance	600		600		600	$ 600
Discount	(66.9)		(66.9)		(73.7)
Debt issuance costs	(10.3)		(10.3)		(11.2)	(13.6)
Derivative liability					0.5	$ 90.4
Amortization of net discount on corporate borrowings			6.8
Amortization of debt issuance costs			0.9
Change fair value of derivative	0	$ (33.9)	(0.5)	$ (20.6)
Carrying value	$ 522.8		522.8		$ 515.6
Increase to Expense (Income)			$ 7.2

CORPORATE BORROWINGS - Senior_2

CORPORATE BORROWINGS - Senior Unsecured Convertible Notes narrative (Details)	Sep. 30, 2018item	Sep. 14, 2018USD ($)item$ / shares	Jun. 30, 2020USD ($)$ / shares	Jun. 30, 2019USD ($)	Jun. 30, 2020USD ($)$ / shares	Jun. 30, 2019USD ($)	Mar. 31, 2020	Dec. 31, 2019USD ($)	Sep. 04, 2018USD ($)
CORPORATE BORROWINGS
Derivative liability								$ 500,000
Debt issuance costs			$ 90,000,000		$ 90,000,000			88,800,000
Interest expense			79,600,000	$ 74,200,000	150,900,000	$ 145,500,000
Other expense			6,600,000	23,400,000	(20,300,000)	(6,400,000)
Other Expenses			(2,800,000)	0	(2,800,000)	0
Class B common stock
CORPORATE BORROWINGS
Price per share (in dollars per share) | $ / shares		$ 17.50
2.95% Senior Unsecured Convertible Notes due 2024
CORPORATE BORROWINGS
Principal balance		$ 600,000,000	600,000,000		600,000,000			$ 600,000,000
Stated interest rate (as a percent)		2.95%					2.95%	2.95%
Change fair value of derivative			$ 0	33,900,000	500,000	20,600,000
If-converted value in excess of principal					$ 464,200,000
Price per share (in dollars per share) | $ / shares			$ 4.29		$ 4.29
Derivative liability		$ 90,400,000						$ 500,000
Effective interest rate		5.98%
Debt issuance costs		$ 13,600,000	$ 10,300,000		$ 10,300,000			$ 11,200,000
Interest expense			8,300,000	8,000,000	16,600,000	16,000,000
Other expense			$ 6,400,000	$ 7,100,000	$ 13,700,000	$ 8,000,000
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 | Class A common stock
CORPORATE BORROWINGS
Conversion rate		52.7704
Conversion rate (in dollars per share) | $ / shares		$ 18.95	$ 18.95		$ 18.95
Number of shares upon conversion	31,662,269				31,662,269
Minimum conversion price percentage causing a reset conversion price		120.00%
Number of days needed to cause a reset conversion price					10 days
Maximum allowed percentage of outstanding fully-diluted share capital resulting a conversion price floor		30.00%
2.95% Senior Unsecured Convertible Notes due 2024 | Class B common stock
CORPORATE BORROWINGS
Derivative Asset									$ 10,700,000

STOCKHOLDERS' EQUITY - Dividend

STOCKHOLDERS' EQUITY - Dividends (Details) - USD ($)	Feb. 15, 2019	Sep. 14, 2018
Dividends
Cash dividend declared (in dollars per share)	$ 0.03
Dividends declared	$ 3,200,000	$ 1.55

STOCKHOLDERS' EQUITY - Related

STOCKHOLDERS' EQUITY - Related Party Transactions (Details)	Sep. 30, 2018item	Sep. 14, 2018USD ($)item$ / sharesshares	Jun. 30, 2020USD ($)$ / sharesshares	Jun. 30, 2019USD ($)	Jun. 30, 2020USD ($)$ / sharesshares	Jun. 30, 2019USD ($)	Dec. 31, 2019USD ($)
2.95% Senior Unsecured Convertible Notes due 2024
Related Party Transactions
Principal balance		$ 600,000,000	$ 600,000,000		$ 600,000,000		$ 600,000,000
Price per share (in dollars per share) | $ / shares			$ 4.29		$ 4.29
Maximum
Related Party Transactions
Ownership percentage			50.00%		50.00%
Class A common stock | 2.95% Senior Unsecured Convertible Notes due 2024
Related Party Transactions
Number of shares upon conversion	31,662,269				31,662,269
Class B common stock
Related Party Transactions
Common stock repurchased and cancellation (in shares) | shares		24,057,143
Value of stock repurchased and canceled		$ 421,000,000
Price per share (in dollars per share) | $ / shares		$ 17.50
Legal fees		$ 2,600,000
Class B common stock | Maximum | 2.95% Senior Unsecured Convertible Notes due 2024
Related Party Transactions
Number of shares upon conversion | item		5,666,000
Wanda
Related Party Transactions
Receivable due from related party			$ 500,000		$ 500,000		$ 800,000
Reimbursements			$ 100,000	$ 100,000	$ 200,000	$ 200,000
Period following ROFR execution during which certain shares may be purchased		2 years
Wanda | ROFR agreement | Minimum
Related Party Transactions
Combined voting power held in Holdings (as a percent)		50.10%
Silver Lake | 2.95% Senior Unsecured Convertible Notes due 2024
Related Party Transactions
Principal balance		$ 600,000,000
Silver Lake | Wanda | ROFR agreement
Related Party Transactions
Period following ROFR execution during which certain shares may be purchased		2 years
Wanda
Related Party Transactions
Combined voting power held in Holdings (as a percent)			74.72%		74.72%
Ownership percentage			49.63%		49.63%
Wanda | Class A common stock
Related Party Transactions
Voting ratio between Class B and Class A common stock					three-to-one voting ratio
Wanda | Class B common stock
Related Party Transactions
Shares owned | shares			51,769,784		51,769,784
Number of shares upon conversion					5,666,000

STOCKHOLDERS' EQUITY - equity s

STOCKHOLDERS' EQUITY - equity statements (Details) - USD ($) $ / shares in Units, $ in Millions	Sep. 14, 2018	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2020	Jun. 30, 2019
Increase (Decrease) in Stockholders' Equity
Balance at the beginning of the period		$ (1,074)	$ 1,214.2	$ 1,303.5	$ 1,397.6	$ 1,214.2	$ 1,397.6
Cumulative Effect of New Accounting Principle in Period of Adoption			(16.9)	(2.6)	78.8		(2.6)
Net earnings (loss)		(561.2)	(2,176.3)	49.4	(130.2)	(2,737.5)	(80.8)
Other comprehensive income (loss)		56	(93.5)	(9.2)	(24.9)	(37.5)	(34.1)
RSUs surrendered to pay for payroll taxes			(1)	(0.3)	(1.1)
Reclassification from temporary equity					0.4
Stock-based compensation		3.7	2.7	5.4	4
Balance at the end of the period		(1,575.4)	(1,074)	1,325.1	1,303.5	(1,575.4)	1,325.1
Additional Paid-in Capital
Increase (Decrease) in Stockholders' Equity
Balance at the beginning of the period		2,003.6	2,001.9	2,001.7	1,998.4	2,001.9	1,998.4
RSUs surrendered to pay for payroll taxes			(1)	(0.3)	(1.1)
Reclassification from temporary equity					0.4
Stock-based compensation		3.7	2.7	5.4	4
Balance at the end of the period		2,007.3	2,003.6	2,006.8	2,001.7	2,007.3	2,006.8
Treasury Stock
Increase (Decrease) in Stockholders' Equity
Balance at the beginning of the period		$ (56.4)	$ (56.4)	$ (56.4)	$ (56.4)	$ (56.4)	$ (56.4)
Balance (in shares)		3,732,625	3,732,625	3,732,625	3,732,625	3,732,625	3,732,625
Balance at the end of the period		$ (56.4)	$ (56.4)	$ (56.4)	$ (56.4)	$ (56.4)	$ (56.4)
Balance (in shares)		3,732,625	3,732,625	3,732,625	3,732,625	3,732,625	3,732,625
Accumulated Other Comprehensive Loss
Increase (Decrease) in Stockholders' Equity
Balance at the beginning of the period		$ (119.6)	$ (26.1)	$ (19.4)	$ 5.5	$ (26.1)	$ 5.5
Other comprehensive income (loss)		56	(93.5)	(9.2)	(24.9)
Balance at the end of the period		(63.6)	(119.6)	(28.6)	(19.4)	(63.6)	(28.6)
Accumulated Earnings (Deficit)
Increase (Decrease) in Stockholders' Equity
Balance at the beginning of the period		(2,902.6)	(706.2)	(623.4)	(550.9)	(706.2)	(550.9)
Cumulative Effect of New Accounting Principle in Period of Adoption			(16.9)	(2.6)	78.8		(2.6)
Net earnings (loss)		(561.2)	(2,176.3)	49.4	(130.2)
Balance at the end of the period		(3,463.7)	(2,902.6)	$ (597.7)	$ (623.4)	(3,463.7)	(597.7)
Class A common stock
Increase (Decrease) in Stockholders' Equity
Balance at the beginning of the period		0.5	$ 0.5			$ 0.5
Balance (in shares)			52,080,077			52,080,077
Balance at the end of the period		$ 0.5	$ 0.5			$ 0.5
Balance (in shares)		52,549,593				52,549,593
Dividends		$ 0.20	$ 0.20	$ 0.20	$ 0.20
Class A common stock | Dividend declared
Increase (Decrease) in Stockholders' Equity
Dividends declared		$ 0.1	$ (1.6)	$ (10.7)	$ (10.7)
Class A common stock | Common Stock
Increase (Decrease) in Stockholders' Equity
Balance at the beginning of the period				$ 0.5	$ 0.5		$ 0.5
Balance (in shares)		52,549,593	52,080,077	55,805,941	55,401,325	52,080,077	55,401,325
Reclassification from temporary equity (in shares)					75,712
Stock based compensation (in shares)			469,516	3,096	328,904
Balance at the end of the period				$ 0.5	$ 0.5		$ 0.5
Balance (in shares)		52,549,593	52,549,593	55,809,037	55,805,941	52,549,593	55,809,037
Class A common stock | Accumulated Earnings (Deficit) | Dividend declared
Increase (Decrease) in Stockholders' Equity
Dividends declared		$ 0.1	$ (1.6)	$ (10.7)	$ (10.7)
Class B common stock
Increase (Decrease) in Stockholders' Equity
Balance (in shares)			51,769,784			51,769,784
Common stock repurchase and cancellation	$ (421)
Common stock repurchased and cancellation (in shares)	24,057,143
Balance (in shares)		51,769,784				51,769,784
Dividends			$ 0.20	$ 0.20	$ 0.20
Class B common stock | Dividend declared
Increase (Decrease) in Stockholders' Equity
Dividends declared			$ (1.6)	$ (10.4)	$ (10.4)
Class B common stock | Common Stock
Increase (Decrease) in Stockholders' Equity
Balance at the beginning of the period		$ 0.5	$ 0.5	$ 0.5	$ 0.5	$ 0.5	$ 0.5
Balance (in shares)		51,769,784	51,769,784	51,769,784	51,769,784	51,769,784	51,769,784
Balance at the end of the period		$ 0.5	$ 0.5	$ 0.5	$ 0.5	$ 0.5	$ 0.5
Balance (in shares)		51,769,784	51,769,784	51,769,784	51,769,784	51,769,784	51,769,784
Class B common stock | Accumulated Earnings (Deficit) | Dividend declared
Increase (Decrease) in Stockholders' Equity
Dividends declared			$ (1.6)	$ (10.4)	$ (10.4)

INCOME TAXES - narrative (Detai

INCOME TAXES - narrative (Details) - USD ($) $ in Millions	3 Months Ended			6 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
INCOME TAXES
Income tax expense	$ (6.1)		$ 5.4	$ 62.1	$ 11.1
Effective Income Tax Rate Reconciliation, Percent				(2.30%)
Goodwill, Impairment Loss				$ 1,744.3
Net deferred tax liabilities	$ 42.6			$ 42.6
Net deferred tax assets						$ 24.1
Foreign | Federal Ministry of Finance, Germany
INCOME TAXES
Income tax expense		$ 33.1
Foreign | Tax Authority Spain
INCOME TAXES
Income tax expense		$ 40.1

FAIR VALUE MEASUREMENTS - Fair

FAIR VALUE MEASUREMENTS - Fair value on a recurring basis (Details)	6 Months Ended
	Jun. 30, 2020USD ($)
Share Price
Other long-term assets:
Derivative Asset, Measurement Input	4.29
Price Volatility Rate
Other long-term assets:
Derivative Asset, Measurement Input	13
Risk Free Interest Rate
Other long-term assets:
Derivative Asset, Measurement Input	0.15
Discount yield
Other long-term assets:
Derivative Asset, Measurement Input	36
Dividend Yield
Other long-term assets:
Derivative Asset, Measurement Input	0
Recurring basis
Other long-term assets:
Money market mutual funds	$ 1,400,000
Derivative asset	24,300,000
Investments measured at net asset value	10,700,000
Investment in NCM	4,100,000
Total assets at fair value	40,500,000
Recurring basis | Quoted prices in active market (Level 1)
Other long-term assets:
Money market mutual funds	1,400,000
Investment in NCM	4,100,000
Total assets at fair value	5,500,000
Recurring basis | Significant unobservable inputs (Level 3)
Other long-term assets:
Derivative asset	24,300,000
Total assets at fair value	24,300,000
Nonrecurring basis
Other long-term assets:
Total losses	1,859,100,000
Nonrecurring basis | Significant unobservable inputs (Level 3)
Other long-term assets:
Total assets at fair value	$ 3,159,400,000

FAIR VALUE MEASUREMENTS - Fai_2

FAIR VALUE MEASUREMENTS - Fair value on a nonrecurring basis (Details)	6 Months Ended
	Jun. 30, 2020USD ($)	Dec. 31, 2019USD ($)	Sep. 14, 2018USD ($)
Other Fair Value Measurement Disclosures
Operating lease right-of-use assets, net	$ 4,555,300,000	$ 4,796,000,000
Goodwill	2,988,400,000	4,789,100,000
Impaired Financing Receivable, Recorded Investment	3,159,400,000
Current maturities of corporate borrowings, carrying value	20,000,000	20,000,000
Corporate borrowings, noncurrent, carrying value	$ 5,498,000,000	$ 4,733,400,000
Discount yield
Other Fair Value Measurement Disclosures
Derivative Asset, Measurement Input	36
Discount yield | International markets
Other Fair Value Measurement Disclosures
Derivative Asset, Measurement Input	11.5
Discount yield | U.S.
Other Fair Value Measurement Disclosures
Derivative Asset, Measurement Input	13
Measurement Input, Long-term Revenue Growth Rate [Member]
Other Fair Value Measurement Disclosures
Derivative Asset, Measurement Input	2
Nonrecurring basis
Other Fair Value Measurement Disclosures
Property net	$ 30,900,000
Total loss on Operating lease right-of-use assets	60,400,000
Definite-lived intangible assets	8,000,000
Indefinite-lived intangible assets	8,300,000
Goodwill	1,744,300,000
Total losses	1,859,100,000
Nonrecurring basis | Other long-term assets
Other Fair Value Measurement Disclosures
Cost method investments	7,200,000
Total Carrying Value
Other Fair Value Measurement Disclosures
Current maturities of corporate borrowings, carrying value	20,000,000
Corporate borrowings, noncurrent, carrying value	5,498,000,000
Total Carrying Value | Nonrecurring basis
Other Fair Value Measurement Disclosures
Property net	40,500,000
Operating lease right-of-use assets, net	124,000,000
Definite-lived intangible assets	6,600,000
Indefinite-lived intangible assets	50,300,000
Goodwill	2,938,000,000
Total assets at fair value	3,159,400,000
Significant other observable inputs (Level 2)
Other Fair Value Measurement Disclosures
Current maturities of corporate borrowings, fair value	14,600,000
Corporate borrowings, noncurrent, fair value	2,854,000,000
Significant unobservable inputs (Level 3)
Other Fair Value Measurement Disclosures
Corporate borrowings, noncurrent, fair value	180,800,000
Significant unobservable inputs (Level 3) | Nonrecurring basis
Other Fair Value Measurement Disclosures
Property net	40,500,000
Operating lease right-of-use assets, net	124,000,000
Definite-lived intangible assets	6,600,000
Indefinite-lived intangible assets	50,300,000
Goodwill	2,938,000,000
Total assets at fair value	$ 3,159,400,000
Significant unobservable inputs (Level 3) | 2.95% Senior Unsecured Convertible Notes due 2024
Other Fair Value Measurement Disclosures
Convertible debt, fair value			$ 600,000,000

OPERATING SEGMENT (Details)

OPERATING SEGMENT (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020USD ($)	Jun. 30, 2019USD ($)	Jun. 30, 2020USD ($)segment	Jun. 30, 2019USD ($)	Dec. 31, 2019USD ($)
OPERATING SEGMENT
Number of reportable segments | segment			2
Financial information by reportable operating segment
Revenues	$ 18,900	$ 1,506,100	$ 960,400	$ 2,706,500
Adjusted EBITDA	(340,300)	237,600	(337,200)	345,800
Capital expenditures	35,000	115,100	126,700	229,900
Long-term assets, net	10,591,900		10,591,900		$ 13,002,700
U. S. markets | Operating Segments [Member]
Financial information by reportable operating segment
Revenues	15,700	1,161,200	677,000	2,028,400
Adjusted EBITDA	(241,600)	202,100	(245,400)	279,500
Capital expenditures	24,900	84,100	81,800	159,600
Long-term assets, net	7,532,100		7,532,100		9,039,600
International markets | Operating Segments [Member]
Financial information by reportable operating segment
Revenues	3,200	344,900	283,400	678,100
Adjusted EBITDA	(98,700)	35,500	(91,800)	66,300
Capital expenditures	10,100	$ 31,000	44,900	$ 70,300
Long-term assets, net	$ 3,059,800		$ 3,059,800		$ 3,963,100

OPERATING SEGMENT - Reconciliat

OPERATING SEGMENT - Reconciliation (Details) $ in Millions	3 Months Ended				6 Months Ended
	Jun. 30, 2020USD ($)	Mar. 31, 2020USD ($)	Jun. 30, 2019USD ($)	Mar. 31, 2019USD ($)	Jun. 30, 2020USD ($)item	Jun. 30, 2019USD ($)
Reconciliation of net income to EBITDA
Net earnings (loss)	$ (561.2)	$ (2,176.3)	$ 49.4	$ (130.2)	$ (2,737.5)	$ (80.8)
Income tax provision (benefit)	(6.1)		5.4		62.1	11.1
Interest expense	91.2		86.4		174	170
Depreciation and amortization	119.7		112		242.2	225
Impairment of long-lived assets, indefinite-lived intangible assets and goodwill					1,851.9
Certain operating expenses	(1.5)		2.3		0.6	4.8
Equity in (earnings) loss of non-consolidated entities	12.4		(10.2)		15.3	(16.7)
Cash distributions from non-consolidated entities	6.1		1.8		13.7	12.3
Attributable EBITDA	0.6		2		0.5	2.9
Investment expense (income)	(1.3)		(2.1)		8.1	(18.2)
Other expense (income)	(1.9)		(23.8)		25	6.1
Other non-cash rent	(3.8)		5.8		(1.5)	13.4
Goodwill, Impairment Loss					1,744.3
Impairment of long-lived assets, indefinite-lived intangible assets and goodwill					91.3
Impairment of indefinite-lived intangible assets					8.3
Impairment of definite-lived intangible assets	0				8
General and Administrative Expense [Abstract]
Merger, acquisition and other costs	1.8		3.2		2	6.5
Share-based Compensation Cash Portion	3.7		5.4		6.4	9.4
Adjusted EBITDA	(340.3)		237.6		(337.2)	345.8
Decrease in other income	21.9
Loss on repayment of indebtedness			16.6			16.6
Gain on derivative liability			33.9
Increase in other expense					18.9
Estimated Credit Losses Contingent Lease Guarantees	3.9				9.2
Foreign currency transactions losses	2.1		(0.1)		0.1	(0.6)
Derivative asset fair value adjustment for contingent call option related to the Class B common stock purchase and cancellation agreement	(6.4)		(7.1)		13.7	8
Derivative liability fair value adjustment for embedded conversion feature in the Convertible Notes due 2024			(33.9)		(0.5)	(20.6)
Attributable EBITDA
Reconciliation of net income to EBITDA
Income tax provision (benefit)			0.1		(0.1)	0.1
Interest expense			0.1			0.1
Depreciation and amortization	0.7		1.7		1.5	2.3
Equity in (earnings) loss of non-consolidated entities	12.4		(10.2)
Attributable EBITDA	0.6		2		0.5	2.9
Investment expense (income)			(0.3)		(0.2)	(0.5)
Other expense (income)	0.1				0.3
Equity in (earnings) loss of non-consolidating entities excluding International theatre joint ventures	12.2		(9.8)		14.3	(15.8)
Other Expense [Member]
General and Administrative Expense [Abstract]
Estimated Credit Losses Contingent Lease Guarantees					9.2
Other Expense [Member] | Embedded Derivative Financial Instruments [Member]
General and Administrative Expense [Abstract]
Derivative liability fair value adjustment for embedded conversion feature in the Convertible Notes due 2024					20.1
Other Expense [Member] | Call Option [Member]
General and Administrative Expense [Abstract]
Derivative asset fair value adjustment for contingent call option related to the Class B common stock purchase and cancellation agreement					5.7
DCIP
Reconciliation of net income to EBITDA
Equity in (earnings) loss of non-consolidated entities	9.7		9		11.6	14.6
Oden Trade Names
Reconciliation of net income to EBITDA
Impairment of indefinite-lived intangible assets	0				5.9
Nordic Trade Names
Reconciliation of net income to EBITDA
Impairment of indefinite-lived intangible assets	0				2.4
Domestic theatres
Reconciliation of net income to EBITDA
Goodwill, Impairment Loss					1,124.9
International theatres
Reconciliation of net income to EBITDA
Goodwill, Impairment Loss					619.4
U. S. markets
Reconciliation of net income to EBITDA
Impairment of long-lived assets, indefinite-lived intangible assets and goodwill					$ 81.4
Tangible asset impairment, number of theatres | item					57
Tangible asset impairment, number of screens | item					658
International markets
Reconciliation of net income to EBITDA
Impairment of long-lived assets, indefinite-lived intangible assets and goodwill					$ 9.9
Tangible asset impairment, number of theatres | item					23
Tangible asset impairment, number of screens | item					213
Operating Segments [Member] | U. S. markets
General and Administrative Expense [Abstract]
Adjusted EBITDA	(241.6)		202.1		$ (245.4)	279.5
Operating Segments [Member] | International markets
Reconciliation of net income to EBITDA
Equity in earnings (loss) International theatre JV's					(1)	0.9
General and Administrative Expense [Abstract]
Adjusted EBITDA	(98.7)		35.5		$ (91.8)	$ 66.3
Operating Segments [Member] | International markets | Attributable EBITDA
Reconciliation of net income to EBITDA
Equity in earnings (loss) International theatre JV's	$ (0.2)		$ 0.4

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details)	Feb. 15, 2019USD ($)	Sep. 14, 2018USD ($)	Jun. 30, 2020USD ($)	Jun. 30, 2020USD ($)	Jan. 19, 2018item	Jan. 12, 2018item
COMMITMENTS AND CONTINGENCIES
Number of pending actions | item					2	2
Dividends declared	$ 3,200,000	$ 1.55
Estimated credit losses contingent lease guarantees			$ 3,900,000	$ 9,200,000

EARNINGS (LOSS) PER SHARE (Deta

EARNINGS (LOSS) PER SHARE (Details)	Sep. 30, 2018item	Jun. 30, 2020USD ($)$ / sharesshares	Mar. 31, 2020USD ($)	Jun. 30, 2019USD ($)$ / sharesshares	Mar. 31, 2019USD ($)	Jun. 30, 2020USD ($)$ / sharesshares	Jun. 30, 2019USD ($)$ / sharesshares	Sep. 14, 2018$ / shares
Numerator:
Net earnings (loss) | $		$ (561,200,000)	$ (2,176,300,000)	$ 49,400,000	$ (130,200,000)	$ (2,737,500,000)	$ (80,800,000)
Net earnings for diluted earnings | $		$ (561,200,000)		23,600,000		$ (2,737,500,000)	$ (80,800,000)
Calculation of Net earnings for diluted earnings (loss) per share
Marked-to--market (gain) on derivative liability | $				(33,900,000)
Interest expense for Convertible Notes due 2024 | $				$ 8,100,000
Denominator (shares in thousands):
Weighted average shares for basic earnings per common share		104,319,000		103,845,000		104,282,000	103,814,000
Common equivalent shares for RSUs and PSUs				21,000
Common equivalent shares if-converted: convertible notes 2024				31,662,000
Weighted average shares for diluted earnings (loss) per common share		104,319,000		135,528,000		104,282,000	103,814,000
Basic earnings (loss) per common share (in dollars per share) | $ / shares		$ (5.38)		$ 0.48		$ (26.25)	$ (0.78)
Diluted earnings (loss) per common share (in dollars per share) | $ / shares		$ (5.38)		$ 0.17		$ (26.25)	$ (0.78)
Interest expense not eliminated from net loss in EPS calculation due to anti-dilutive effect | $		$ 8,300,000				$ 16,600,000	$ 16,000,000
2.95% Senior Unsecured Convertible Notes due 2024
Denominator (shares in thousands):
Anti-dilutive securities not included in the computations of diluted earnings per share (in shares)		31,700,000				31,700,000	31,700,000
Derivative gain (loss) not eliminated from net loss in EPS calculation due to anti-dilutive effect | $		$ 0				$ (500,000)	$ (20,600,000)
2.95% Senior Unsecured Convertible Notes due 2024 | Class A common stock
Denominator (shares in thousands):
Conversion rate (in dollars per share) | $ / shares		$ 18.95				$ 18.95		$ 18.95
Number of shares upon conversion	31,662,269					31,662,269
Performance Vesting
Denominator (shares in thousands):
Anti-dilutive securities not included in the computations of diluted earnings per share (in shares)		782,992		502,858		793,932	502,858
Percent of performance target		100.00%		100.00%		100.00%	100.00%
Special Performance Stock Unit
Denominator (shares in thousands):
Anti-dilutive securities not included in the computations of diluted earnings per share (in shares)		595,003				595,003
Restricted stock unit
Denominator (shares in thousands):
Anti-dilutive securities not included in the computations of diluted earnings per share (in shares)						2,249,263	1,253,870

CONDENSED CONSOLIDATING FINAN_2

CONDENSED CONSOLIDATING FINANCIAL INFORMATION (Details)	6 Months Ended
	Jun. 30, 2020
CONDENSED CONSOLIDATING FINANCIAL INFORMATION
Ownership percentage	100.00%

CONDENSED CONSOLIDATING FINAN_3

CONDENSED CONSOLIDATING FINANCIAL INFORMATION - Statements of Operations (Details) - USD ($) $ in Millions	3 Months Ended				6 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2020	Jun. 30, 2019
Revenues
Revenues	$ 18.9		$ 1,506.1		$ 960.4	$ 2,706.5
Operating costs and expenses
Operating expense, excluding depreciation and amortization below	114.8		437.4		471.7	840.2
Rent	224.1		245.9		461.9	487.9
General and administrative:
Merger, acquisition and other costs	1.8		3.2		2	6.5
Other, excluding depreciation and amortization below	25.4		43.2		58.6	89.4
Depreciation and amortization	119.7		112		242.2	225
Impairment of long-lived assets, indefinite-lived intangible assets and goodwill					1,851.9
Operating costs and expenses	490.5		1,400.6		3,418.1	2,634.7
Operating income (loss)	(471.6)		105.5		(2,457.7)	71.8
Other expense (income):
Other expense (income):	(6.6)		(23.4)		20.3	6.4
Interest expense:
Corporate borrowings	79.6		74.2		150.9	145.5
Finance lease obligations	1.5		2.1		3.1	4.2
Non-cash NCM exhibitor services agreement	10.1		10.1		20	20.3
Equity in (earnings) loss of non-consolidated entities	12.4		(10.2)		15.3	(16.7)
Investment income	(1.3)		(2.1)		8.1	(18.2)
Total other expense, net	95.7		50.7		217.7	141.5
Earnings (loss) before income taxes	(567.3)		54.8		(2,675.4)	(69.7)
Income tax provision (benefit)	(6.1)		5.4		62.1	11.1
Net earnings (loss)	(561.2)	$ (2,176.3)	49.4	$ (130.2)	(2,737.5)	(80.8)
Consolidating Adjustments
Other expense (income):
Equity in (earnings) loss of AMC Entertainment Inc.	(694.8)		(27.3)		(3,597.2)	(518.7)
Interest expense:
Corporate borrowings	(79.2)		(74.5)		(150.4)	(145.7)
Intercompany interest expense	(6.1)		(21.4)		(12.1)	(218.9)
Investment income	85.3		95.9		162.5	364.6
Total other expense, net	(694.8)		(27.3)		(3,597.2)	(518.7)
Earnings (loss) before income taxes	694.8		27.3		3,597.2	518.7
Net earnings (loss)	694.8		27.3		3,597.2	518.7
AMCE
Other expense (income):
Equity in (earnings) loss of AMC Entertainment Inc.	569.8		9.1		2,728	303.7
Other expense (income):	(6.6)		(40.9)		13.6	(12)
Interest expense:
Corporate borrowings	78.3		73.6		149	144.5
Investment income	(80.3)		(91.2)		(153.1)	(355.4)
Total other expense, net	561.2		(49.4)		2,737.5	80.8
Earnings (loss) before income taxes	(561.2)		49.4		(2,737.5)	(80.8)
Net earnings (loss)	(561.2)		49.4		(2,737.5)	(80.8)
Subsidiary Guarantors
Revenues
Revenues	15.7		1,161.2		677	2,028.3
Operating costs and expenses
Operating expense, excluding depreciation and amortization below	79.4		320.9		331.3	606.5
Rent	164.8		179.6		339.2	356.2
General and administrative:
Merger, acquisition and other costs	1.7		2.4		2	3.5
Other, excluding depreciation and amortization below	13.8		24.9		31.1	52.4
Depreciation and amortization	91		84.2		183.4	167.9
Impairment of long-lived assets, indefinite-lived intangible assets and goodwill					1,214.3
Operating costs and expenses	353.8		1,058.3		2,338.2	1,953
Operating income (loss)	(338.1)		102.9		(1,661.2)	75.3
Other expense (income):
Equity in (earnings) loss of AMC Entertainment Inc.	125		18.2		869.2	215
Other expense (income):	6.7		17.7		12	18.2
Interest expense:
Corporate borrowings	79.1		74.4		150.1	145.3
Finance lease obligations	0.3		0.6		0.7	1.4
Non-cash NCM exhibitor services agreement	10.1		10.1		20	20.3
Equity in (earnings) loss of non-consolidated entities	11.4		(9.9)		13.3	(16)
Investment income	(5.3)		(4.9)			(14.5)
Total other expense, net	227.3		106.2		1,065.3	369.7
Earnings (loss) before income taxes	(565.4)		(3.3)		(2,726.5)	(294.4)
Income tax provision (benefit)	4.4		5.8		1.5	9.3
Net earnings (loss)	(569.8)		(9.1)		(2,728)	(303.7)
Subsidiary Non-Guarantors
Revenues
Revenues	3.2		344.9		283.4	678.2
Operating costs and expenses
Operating expense, excluding depreciation and amortization below	35.4		116.5		140.4	233.7
Rent	59.3		66.3		122.7	131.7
General and administrative:
Merger, acquisition and other costs	0.1		0.8			3
Other, excluding depreciation and amortization below	11.6		18.3		27.5	37
Depreciation and amortization	28.7		27.8		58.8	57.1
Impairment of long-lived assets, indefinite-lived intangible assets and goodwill					637.6
Operating costs and expenses	136.7		342.3		1,079.9	681.7
Operating income (loss)	(133.5)		2.6		(796.5)	(3.5)
Other expense (income):
Other expense (income):	(6.7)		(0.2)		(5.3)	0.2
Interest expense:
Corporate borrowings	1.4		0.7		2.2	1.4
Finance lease obligations	1.2		1.5		2.4	2.8
Intercompany interest expense	6.1		21.4		12.1	218.9
Equity in (earnings) loss of non-consolidated entities	1		(0.3)		2	(0.7)
Investment income	(1)		(1.9)		(1.3)	(12.9)
Total other expense, net	2		21.2		12.1	209.7
Earnings (loss) before income taxes	(135.5)		(18.6)		(808.6)	(213.2)
Income tax provision (benefit)	(10.5)		(0.4)		60.6	1.8
Net earnings (loss)	(125)		(18.2)		(869.2)	(215)
Admissions
Revenues
Revenues	0.9		895.5		568.9	1,627
Operating costs and expenses
Operating costs and expenses	0.2		482.5		271.9	847.8
Admissions | Subsidiary Guarantors
Revenues
Revenues			680.7		389.1	1,196
Admissions | Subsidiary Non-Guarantors
Revenues
Revenues	0.9		214.8		179.8	431
Film exhibition costs
Operating costs and expenses
Operating costs and expenses	0.2		482.5		271.9	847.8
Film exhibition costs | Subsidiary Guarantors
Operating costs and expenses
Operating costs and expenses	(0.2)		390.2		198.7	667.5
Film exhibition costs | Subsidiary Non-Guarantors
Operating costs and expenses
Operating costs and expenses	0.4		92.3		73.2	180.3
Food and beverage
Revenues
Revenues	0.4		492.5		288.5	861.3
Operating costs and expenses
Operating costs and expenses	4.5		76.4		57.9	137.9
Food and beverage | Subsidiary Guarantors
Revenues
Revenues			401.1		216.6	688.7
Operating costs and expenses
Operating costs and expenses	3.3		56.1		38.2	99
Food and beverage | Subsidiary Non-Guarantors
Revenues
Revenues	0.4		91.4		71.9	172.6
Operating costs and expenses
Operating costs and expenses	1.2		20.3		19.7	38.9
Total other theatre
Revenues
Revenues	17.6		118.1		103	218.2
Total other theatre | Subsidiary Guarantors
Revenues
Revenues	15.7		79.4		71.3	143.6
Total other theatre | Subsidiary Non-Guarantors
Revenues
Revenues	$ 1.9		$ 38.7		$ 31.7	$ 74.6

CONDENSED CONSOLIDATING FINAN_4

CONDENSED CONSOLIDATING FINANCIAL INFORMATION - Statements of Comprehensive Income (Details) - USD ($) $ in Millions	3 Months Ended				6 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2020	Jun. 30, 2019
Net earnings (loss)	$ (561.2)	$ (2,176.3)	$ 49.4	$ (130.2)	$ (2,737.5)	$ (80.8)
Unrealized foreign currency translation adjustments	55.4		(9.3)		(38.2)	(34.7)
Realized loss on foreign currency transactions reclassified into other expense			0.1			0.6
Pension adjustments:
Realized net loss reclassified into other expense, net of tax	0.6		0.1		0.7	0.1
Equity method investee's cash flow hedge:
Unrealized net holding loss arising during the period			(0.1)			(0.1)
Other comprehensive income (loss)	56	$ (93.5)	(9.2)	$ (24.9)	(37.5)	(34.1)
Total comprehensive income (loss)	(505.2)		40.2		(2,775)	(114.9)
Consolidating Adjustments
Net earnings (loss)	694.8		27.3		3,597.2	518.7
Equity in other comprehensive income (loss) of subsidiaries	(111)		13.3		91.1	53.4
Equity method investee's cash flow hedge:
Other comprehensive income (loss)	(111)		13.3		91.1	53.4
Total comprehensive income (loss)	583.8		40.6		3,688.3	572.1
AMCE
Net earnings (loss)	(561.2)		49.4		(2,737.5)	(80.8)
Equity in other comprehensive income (loss) of subsidiaries	56		(9.2)		(37.5)	(34.1)
Equity method investee's cash flow hedge:
Other comprehensive income (loss)	56		(9.2)		(37.5)	(34.1)
Total comprehensive income (loss)	(505.2)		40.2		(2,775)	(114.9)
Subsidiary Guarantors
Net earnings (loss)	(569.8)		(9.1)		(2,728)	(303.7)
Equity in other comprehensive income (loss) of subsidiaries	55		(4.1)		(53.6)	(19.3)
Unrealized foreign currency translation adjustments	0.9		(5.1)		16	(15.4)
Realized loss on foreign currency transactions reclassified into other expense			0.1			0.6
Pension adjustments:
Realized net loss reclassified into other expense, net of tax	0.1				0.1	0.1
Equity method investee's cash flow hedge:
Unrealized net holding loss arising during the period			(0.1)			(0.1)
Other comprehensive income (loss)	56		(9.2)		(37.5)	(34.1)
Total comprehensive income (loss)	(513.8)		(18.3)		(2,765.5)	(337.8)
Subsidiary Non-Guarantors
Net earnings (loss)	(125)		(18.2)		(869.2)	(215)
Unrealized foreign currency translation adjustments	54.5		(4.2)		(54.2)	(19.3)
Pension adjustments:
Realized net loss reclassified into other expense, net of tax	0.5		0.1		0.6
Equity method investee's cash flow hedge:
Other comprehensive income (loss)	55		(4.1)		(53.6)	(19.3)
Total comprehensive income (loss)	$ (70)		$ (22.3)		$ (922.8)	$ (234.3)

CONDENSED CONSOLIDATING FINAN_5

CONDENSED CONSOLIDATING FINANCIAL INFORMATION - Balance Sheets (Details) - USD ($) $ in Millions	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 498		$ 265
Restricted cash	10.4		10.5
Receivables, net	70.7		254.2
Other current assets	100.6		143.4
Total current assets	679.7		673.1
Property, net	2,417.5		2,649.2
Operating lease right-of-use assets, net	4,555.3		4,796
Intangible assets, net	174.3		195.3
Goodwill	2,988.4		4,789.1
Deferred tax asset, net	0.6		70.1
Other long-term assets	455.8		503
Total assets	11,271.6		13,675.8
Current liabilities:
Accounts payable	436.1		543.3
Accrued expenses and other liabilities	257.5		324.6
Deferred revenues and income	406.1		449.2
Current maturities of corporate borrowings, carrying value	20		20
Current maturities of finance lease liabilities	10		10.3
Current maturities of operating lease liabilities	581.5		585.8
Total current liabilities	1,711.2		1,933.2
Corporate borrowings	5,498		4,733.4
Finance lease liabilities	83.9		89.6
Operating lease liabilities	4,744.4		4,913.8
Exhibitor services agreement	546.3		549.7
Deferred tax liability, net	43.2		46
Other long-term liabilities	220		195.9
Total liabilities	12,847		12,461.6
Total stockholders' equity (deficit)	(1,575.4)	$ (1,074)	1,214.2	$ 1,325.1	$ 1,303.5	$ 1,397.6
Total liabilities and stockholders' equity	11,271.6		13,675.8
Consolidating Adjustments
Current assets:
Receivables, net	(11)		(9.9)
Total current assets	(11)		(9.9)
Investment in equity of subsidiaries	(1,877.3)		(2,415.4)
Total assets	(1,888.3)		(2,425.3)
Current liabilities:
Accounts payable	(11.1)		(10)
Accrued expenses and other liabilities	0.1		0.1
Total current liabilities	(11)		(9.9)
Total liabilities	(11)		(9.9)
Total stockholders' equity (deficit)	(1,877.3)		(2,415.4)
Total liabilities and stockholders' equity	(1,888.3)		(2,425.3)
AMCE
Current assets:
Cash and cash equivalents			0.3
Total current assets			0.3
Investment in equity of subsidiaries	947.1		452.6
Intercompany advances	2,911.9		5,488
Goodwill	(2.1)		(2.1)
Other long-term assets	32.6		47.4
Total assets	3,889.5		5,986.2
Current liabilities:
Accrued expenses and other liabilities	55.7		18.6
Current maturities of corporate borrowings, carrying value	20		20
Total current liabilities	75.7		38.6
Corporate borrowings	5,389.2		4,733.4
Total liabilities	5,464.9		4,772
Total stockholders' equity (deficit)	(1,575.4)		1,214.2
Total liabilities and stockholders' equity	3,889.5		5,986.2
Subsidiary Guarantors
Current assets:
Cash and cash equivalents	413.1		94.9
Receivables, net	34.8		160.1
Other current assets	74.1		108.5
Total current assets	522		363.5
Investment in equity of subsidiaries	930.2		1,962.8
Property, net	1,805.7		1,969.3
Operating lease right-of-use assets, net	3,327.1		3,491.8
Intangible assets, net	120.9		130.6
Intercompany advances	(2,543.8)		(5,097.7)
Goodwill	1,949.8		3,074.7
Other long-term assets	298.1		328
Total assets	6,410		6,223
Current liabilities:
Accounts payable	256.6		382.8
Accrued expenses and other liabilities	110.3		184
Deferred revenues and income	321.9		348.9
Current maturities of finance lease liabilities	5.7		5.3
Current maturities of operating lease liabilities	453		449.5
Total current liabilities	1,147.5		1,370.5
Finance lease liabilities	13.5		13.9
Operating lease liabilities	3,550.6		3,666.8
Exhibitor services agreement	546.3		549.7
Deferred tax liability, net	32.1		26.8
Other long-term liabilities	172.9		142.7
Total liabilities	5,462.9		5,770.4
Total stockholders' equity (deficit)	947.1		452.6
Total liabilities and stockholders' equity	6,410		6,223
Subsidiary Non-Guarantors
Current assets:
Cash and cash equivalents	84.9		169.8
Restricted cash	10.4		10.5
Receivables, net	46.9		104
Other current assets	26.5		34.9
Total current assets	168.7		319.2
Property, net	611.8		679.9
Operating lease right-of-use assets, net	1,228.2		1,304.2
Intangible assets, net	53.4		64.7
Intercompany advances	(368.1)		(390.3)
Goodwill	1,040.7		1,716.5
Deferred tax asset, net	0.6		70.1
Other long-term assets	125.1		127.6
Total assets	2,860.4		3,891.9
Current liabilities:
Accounts payable	190.6		170.5
Accrued expenses and other liabilities	91.4		121.9
Deferred revenues and income	84.2		100.3
Current maturities of finance lease liabilities	4.3		5
Current maturities of operating lease liabilities	128.5		136.3
Total current liabilities	499		534
Corporate borrowings	108.8
Finance lease liabilities	70.4		75.7
Operating lease liabilities	1,193.8		1,247
Deferred tax liability, net	11.1		19.2
Other long-term liabilities	47.1		53.2
Total liabilities	1,930.2		1,929.1
Total stockholders' equity (deficit)	930.2		1,962.8
Total liabilities and stockholders' equity	$ 2,860.4		$ 3,891.9

CONDENSED CONSOLIDATING FINAN_6

CONDENSED CONSOLIDATING FINANCIAL INFORMATION - Statements of Cash Flows (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Net change in operating activities:
Net cash provided by (used in) operating activities			$ (415.9)	$ 153.6
Cash flows from investing activities:
Capital expenditures	$ (35)	$ (115.1)	(126.7)	(229.9)
Acquisition of theatre assets				(11.8)
Proceeds from disposition of long-term assets			3.7	21.3
Investments in non-consolidated entities, net			(9.3)	(0.1)
Other, net			0.8	(0.8)
Net cash provided by (used in) investing activities			(131.5)	(221.3)
Cash flows from financing activities:
Proceeds from issuance of Term Loan due 2026				1,990
Proceeds from issuance of First Lien Notes due 2025			490
Repayments under revolving credit facilities			322.8	(12)
Call premiums paid for Senior Secured Notes due 2023 and Senior Subordinated Notes due 2022				(15.9)
Principal payments under term loan			(10)	(11.9)
Principal payments under finance lease obligations			(2.3)	(6.1)
Cash used to pay for deferred financing costs			(9.3)	(11.2)
Cash used to pay dividends			(4.3)	(42.6)
Taxes paid for restricted unit withholdings			(1)	(1.3)
Net cash provided by (used in) financing activities			785.9	(54.5)
Effect of exchange rate changes on cash and cash equivalents and restricted cash			(5.6)	(0.6)
Net increase (decrease) in cash and cash equivalents and restricted cash			232.9	(122.8)
Cash and cash equivalents and restricted cash at beginning of period			275.5	324
Cash and cash equivalents and restricted cash at end of period	508.4	201.2	508.4	201.2
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)
Senior Secured Credit Facility Term Loans Due 2022 And 2023
Cash flows from financing activities:
Payments of Senior Subordinated Notes				(1,338.5)
Senior Secured Credit Facility Term-Loan due 2022
Cash flows from financing activities:
Payments of Senior Subordinated Notes				(375)
AMCE
Net change in operating activities:
Net cash provided by (used in) operating activities			46.7	238.9
Cash flows from financing activities:
Proceeds from issuance of Term Loan due 2026				1,990
Proceeds from issuance of First Lien Notes due 2025			490
Repayments under revolving credit facilities			213.2
Call premiums paid for Senior Secured Notes due 2023 and Senior Subordinated Notes due 2022				(15.9)
Principal payments under term loan			(10)	(11.9)
Cash used to pay for deferred financing costs			(9.3)	(11.2)
Cash used to pay dividends			(4.3)	(42.6)
Taxes paid for restricted unit withholdings			(1)	(1.3)
Change in intercompany advances			(684.6)	(203.3)
Net cash provided by (used in) financing activities			(6)	(239.7)
Effect of exchange rate changes on cash and cash equivalents and restricted cash			(41)	0.8
Net increase (decrease) in cash and cash equivalents and restricted cash			(0.3)	0
Cash and cash equivalents and restricted cash at beginning of period			0.3	0.3
Cash and cash equivalents and restricted cash at end of period		0.3		0.3
AMCE | 6.0% Senior Secured Notes due 2023
Cash flows from financing activities:
Payments of Senior Subordinated Notes				(230)
AMCE | Senior Secured Credit Facility Term Loans Due 2022 And 2023
Cash flows from financing activities:
Payments of Senior Subordinated Notes				(1,338.5)
AMCE | Senior Secured Credit Facility Term-Loan due 2022
Cash flows from financing activities:
Payments of Senior Subordinated Notes				(375)
Subsidiary Guarantors
Net change in operating activities:
Net cash provided by (used in) operating activities			(448.6)	(135.9)
Cash flows from investing activities:
Capital expenditures			(81.8)	(159.6)
Acquisition of theatre assets				(11.8)
Proceeds from disposition of long-term assets			3.4	6
Investments in non-consolidated entities, net				(0.1)
Other, net			0.8	(0.8)
Net cash provided by (used in) investing activities			(77.6)	(166.3)
Cash flows from financing activities:
Principal payments under finance lease obligations			(1.3)	(3.6)
Change in intercompany advances			804.2	227.7
Net cash provided by (used in) financing activities			802.9	224.1
Effect of exchange rate changes on cash and cash equivalents and restricted cash			41.5	(0.4)
Net increase (decrease) in cash and cash equivalents and restricted cash			318.2	(78.5)
Cash and cash equivalents and restricted cash at beginning of period			94.9	177.7
Cash and cash equivalents and restricted cash at end of period	413.1	99.2	413.1	99.2
Subsidiary Non-Guarantors
Net change in operating activities:
Net cash provided by (used in) operating activities			(14)	50.6
Cash flows from investing activities:
Capital expenditures			(44.9)	(70.3)
Proceeds from disposition of long-term assets			0.3	15.3
Investments in non-consolidated entities, net			(9.3)
Net cash provided by (used in) investing activities			(53.9)	(55)
Cash flows from financing activities:
Repayments under revolving credit facilities			109.6	(12)
Principal payments under finance lease obligations			(1)	(2.5)
Change in intercompany advances			(119.6)	(24.4)
Net cash provided by (used in) financing activities			(11)	(38.9)
Effect of exchange rate changes on cash and cash equivalents and restricted cash			(6.1)	(1)
Net increase (decrease) in cash and cash equivalents and restricted cash			(85)	(44.3)
Cash and cash equivalents and restricted cash at beginning of period			180.3	146
Cash and cash equivalents and restricted cash at end of period	$ 95.3	$ 101.7	$ 95.3	$ 101.7

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - USD ($) shares in Millions, $ in Millions	Jul. 31, 2020	Jul. 13, 2020	Apr. 24, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 14, 2018
Subsequent Events
Debt exchange amount	$ 1,700
New funding				$ 5,681.4		$ 4,910.8
Redemption at any time prior to April 15, 2022
Subsequent Events
Percentage of redemption of debt on aggregate principal amount and accrued and unpaid interest			100.00%
Senior Subordinated Notes due 2024
Subsequent Events
Stated interest rate (as a percent)	6.375%
Senior Subordinated Notes due 2025
Subsequent Events
Stated interest rate (as a percent)	5.75%
Senior Subordinated Notes due 2026
Subsequent Events
Stated interest rate (as a percent)	5.875%
Senior Subordinated Notes due 2027
Subsequent Events
Stated interest rate (as a percent)	6.125%
2.95% Senior Unsecured Convertible Notes due 2024
Subsequent Events
Stated interest rate (as a percent)					2.95%	2.95%	2.95%
New funding				$ 600		$ 600
Subsequent Events | Class A common stock
Subsequent Events
Number of Prorata Shares	5	5
Subsequent Events | Senior Subordinated Notes
Subsequent Events
Aggregate principal amount	$ 2,017.5
Percentage of redemption of debt on aggregate principal amount and accrued and unpaid interest	24.10%
Decrease in debt	$ 555
Subsequent Events | Senior Subordinated Notes | Minimum
Subsequent Events
Cash savings due to interest paid in cash or in-kind	120
Subsequent Events | Senior Subordinated Notes | Maximum
Subsequent Events
Cash savings due to interest paid in cash or in-kind	180
Subsequent Events | Senior Subordinated Notes due 2024
Subsequent Events
Stated interest rate (as a percent)		2.95%
Subsequent Events | Senior Lien Notes Due 2026
Subsequent Events
Aggregate principal amount	$ 1,462.3
Subsequent Events | Senior Lien Notes Due 2026 | Minimum
Subsequent Events
Interest due term		12 months
Subsequent Events | Senior Lien Notes Due 2026 | Maximum
Subsequent Events
Interest due term		18 months
Subsequent Events | Incremental First Lien Notes Due 2026
Subsequent Events
Aggregate principal amount		$ 200
Stated interest rate (as a percent)	10.50%	10.50%
Original issue discount		$ 36
Value of shares outstanding at market closing price		20.2
Additional cash from incremental first lien financing		100
New funding		$ 300
Subsequent Events | Incremental First Lien Notes Due 2026 | Class A common stock
Subsequent Events
Outstanding Shares (as a percent)		4.60%
Subsequent Events | 2.95% Senior Unsecured Convertible Notes due 2024
Subsequent Events
Aggregate principal amount		$ 600
Subsequent Events | First Lien Notes due 2026
Subsequent Events
Stated interest rate (as a percent)	10.50%
Original issue discount	$ 36
New funding	$ 300
Subsequent Events | First Lien Notes due 2026 | Minimum
Subsequent Events
Interest due term	12 months
Subsequent Events | First Lien Notes due 2026 | Maximum
Subsequent Events
Interest due term	18 months