AMC Entertainment (AMC) 10-K 25 Feb 25 2024 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2024	Feb. 18, 2025	Jun. 30, 2024
Document and Entity Information
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2024
Document Transition Report	false
Securities Act File Number	001-33892
Entity Registrant Name	AMC ENTERTAINMENT HOLDINGS, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	26-0303916
Entity Address, Address Line One	One AMC Way
Entity Address, Address Line Two	11500 Ash Street
Entity Address, City or Town	Leawood
Entity Address, State or Province	KS
Entity Address, Postal Zip Code	66211
City Area Code	913
Local Phone Number	213-2000
Title of 12(b) Security	Class A common stock
Trading Symbol	AMC
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		431,949,800
Entity Public Float			$ 1,799,547,676
Entity Central Index Key	0001411579
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY
Amendment Flag	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction Flag	false
Auditor Name	Ernst & Young LLP
Auditor Firm ID	42
Auditor Location	Kansas City, Missouri

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Revenues
Total revenues	$ 4,637.2	$ 4,812.6	$ 3,911.4
Operating costs and expenses
Operating expense, excluding depreciation and amortization below	1,679.4	1,691.5	1,528.4
Rent	873.6	873.5	886.2
General and administrative:
Merger, acquisition and other costs	0.1	1.7	2.1
Other, excluding depreciation and amortization below	226.8	241.9	207.6
Depreciation and amortization	319.5	365	396
Impairment of long-lived assets	72.3	106.9	133.1
Operating costs and expenses	4,716.5	4,886.9	4,433.7
Operating loss	(79.3)	(74.3)	(522.3)
Other expense, net:
Other expense (income)	(156.2)	(76.8)	55.2
Interest expense:
Corporate borrowings	401.8	369.6	336.4
Finance lease obligations	5.4	3.7	4.1
Non-cash NCM exhibitor services agreement	36.5	37.9	38.2
Investment expense (income)	(16.3)	(15.5)	14.9
Total other expense, net	271.2	318.9	448.8
Loss before income taxes	(350.5)	(393.2)	(971.1)
Income tax provision	2.1	3.4	2.5
Net loss	$ (352.6)	$ (396.6)	$ (973.6)
Net loss per share:
Basic (in dollars per share)	$ (1.06)	$ (2.37)	$ (9.29)
Diluted (in dollars per share)	$ (1.06)	$ (2.37)	$ (9.29)
Weighted average shares outstanding:
Basic (Shares in thousands)	332,920	167,644	104,769
Diluted (Shares in thousands)	332,920	167,644	104,769
Admissions
Revenues
Total revenues	$ 2,560.5	$ 2,690.5	$ 2,201.4
Operating costs and expenses
Operating costs and expenses	1,239.2	1,291.1	1,051.7
Food and beverage
Revenues
Total revenues	1,624.9	1,669.8	1,313.7
Operating costs and expenses
Operating costs and expenses	305.6	315.3	228.6
Other theatre
Revenues
Total revenues	$ 451.8	$ 452.3	$ 396.3

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS
Net loss	$ (352.6)	$ (396.6)	$ (973.6)
Other comprehensive loss:
Unrealized foreign currency gain (loss) translation adjustments	(55.6)	1.1	(59.8)
Pension adjustments:
Net gain (loss) arising during the period	1.8	(2)	10.6
Other comprehensive loss	(53.8)	(0.9)	(49.2)
Total comprehensive loss	$ (406.4)	$ (397.5)	$ (1,022.8)

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 632.3	$ 884.3
Restricted cash	48.5	27.1
Receivables, net	168.1	203.7
Other current assets	98.3	88
Total current assets	947.2	1,203.1
Property, net	1,442.3	1,560.4
Operating lease right-of-use assets, net	3,220.1	3,544.5
Intangible assets, net	144.3	146.7
Goodwill	2,301.1	2,358.7
Other long-term assets	192.5	195.8
Total assets	8,247.5	9,009.2
Current liabilities:
Accounts payable	378.3	320.5
Accrued expenses and other liabilities	340.6	350.8
Deferred revenues and income	432.4	421.8
Current maturities of corporate borrowings	64.2	25.1
Current maturities of finance lease liabilities	4.4	5.4
Current maturities of operating lease liabilities	524.9	508.8
Total current liabilities	1,744.8	1,632.4
Corporate borrowings	4,010.9	4,552.3
Finance lease liabilities	44.9	50
Operating lease liabilities	3,627.6	4,000.7
Exhibitor services agreement	464	486.6
Deferred tax liability, net	33.9	32.4
Other long-term liabilities	81.9	102.7
Total liabilities	10,008	10,857.1
Commitments and contingencies
Stockholders' deficit:
Preferred stock, $.01 par value per share, 50,000,000 shares authorized; no shares issued and outstanding as of December 31, 2024, and December 31, 2024
Class A common stock ($.01 par value, 550,000,000 shares authorized; 414,417,797 shares issued and outstanding as of December 31, 2024; 550,000,000 authorized; 260,574,392 shares issued and outstanding as of December 31, 2023)	4.1	2.6
Additional paid-in capital	6,714.2	6,221.9
Accumulated other comprehensive loss	(132)	(78.2)
Accumulated deficit	(8,346.8)	(7,994.2)
Total stockholders' deficit	(1,760.5)	(1,847.9)
Total liabilities and stockholders' deficit	$ 8,247.5	$ 9,009.2

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2024	Dec. 31, 2023
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, share authorized (in shares)	50,000,000	50,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding ( in shares)	0	0
Class A common stock
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, share authorized (in shares)	550,000,000	550,000,000
Common stock, shares issued (in shares)	414,417,797	260,574,392
Common stock, shares outstanding (in shares)	414,417,797	260,574,392

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Cash flows from operating activities:
Net loss		$ (352.6)	$ (396.6)	$ (973.6)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization		319.5	365	396
(Gain) loss on extinguishment of debt		(38.9)	(142.8)	92.8
Gain on derivative liability		(75.8)
Deferred income taxes		1.5	0.7	1.7
Impairment of long-lived assets		72.3	106.9	133.1
Unrealized loss on investments in Hycroft		3	12.6	6.3
Amortization of net premium on corporate borrowings to interest expense		(17.5)	(55.6)	(65.4)
Amortization of deferred financing costs to interest expense		8.3	9.6	12.6
PIK interest expense		14.7
Non-cash portion of stock-based compensation		22	42.5	22.5
Gain on disposition of Saudi Cinema Company			(15.5)
Equity in (earnings) loss from non-consolidated entities, net of distributions		(1.6)	(0.2)	7.6
Landlord contributions		31.8	23.9	19.9
Deferred rent		(106.1)	(159.1)	(196.7)
Net periodic benefit cost (income)		1.8	1.4	(0.6)
Non-cash shareholder litigation expense			99.3
Change in assets and liabilities:
Receivables		37.4	(45.6)	4
Other assets		(10.7)	(6.7)	2.3
Accounts payable		60.1	(0.7)	(40.4)
Accrued expenses and other liabilities		(13.8)	(26.7)	(39.2)
Other, net		(6.2)	(27.6)	(11.4)
Net cash used in operating activities		(50.8)	(215.2)	(628.5)
Cash flows from investing activities:
Capital expenditures		(245.5)	(225.6)	(202)
Acquisition of theatre assets			(4)	(17.8)
Proceeds from disposition of Saudi Cinema Company			30
Proceeds from disposition of long-term assets		0.5	16.5	11.3
Proceeds from sale of securities				13
Investments in non-consolidated entities, net				(27.9)
Other, net		2.1	3	(0.6)
Net cash used in investing activities		(242.9)	(180.1)	(224)
Cash flows from financing activities:
Net proceeds from equity issuances		254.9	832.7	220.4
Scheduled principal payments under Term Loan borrowings		(20.1)	(20)	(20)
Principal payments under finance lease obligations		(4.6)	(5.6)	(9.4)
Cash used to pay deferred financing costs		(46.7)	(2)	(26.1)
Debt extinguishment costs		(3.9)
Taxes paid for restricted unit withholdings		(2.2)	(14.2)	(52.3)
Cash used to pay dividends				(0.7)
Net cash provided by (used in) financing activities		68.4	649.3	(91.3)
Effect of exchange rate changes on cash and cash equivalents and restricted cash		(5.3)	3	(22.1)
Net increase (decrease) in cash and cash equivalents and restricted cash		(230.6)	257	(965.9)
Cash and cash equivalents and restricted cash at beginning of period		911.4	654.4	1,620.3
Cash and cash equivalents and restricted cash at end of period		680.8	911.4	654.4
Cash paid during the period for:
Interest		401.6	421.2	379
Income taxes paid, net		0.7	4.3	0.8
Schedule of non-cash activities:
Investment in NCM				15
Construction payables at period end		35.1	42.3	36.3
Other third-party equity issuance costs payable		1.2	0.1	2.8
Deferred financing costs payable		0.2
First Lien Notes due 2029
Cash flows from financing activities:
Proceeds from issuance of notes				950
Notes due 2025
Schedule of non-cash activities:
Extinguishment of Second Lien Notes due 2026 in exchange for share issuance	[1]	38.8
Notes due 2026
Schedule of non-cash activities:
Extinguishment of Second Lien Notes due 2026 in exchange for share issuance	[1]	2.4
First Lien Notes due 2025
Cash flows from financing activities:
Debt extinguishment costs				(34.5)
Principal payments of notes				(500)
First Lien Notes due 2026
Cash flows from financing activities:
Debt extinguishment costs				(25.6)
Principal payments of notes				(300)
First Lien Toggle Notes due 2026
Cash flows from financing activities:
Principal payments of notes				(73.5)
Second Lien Subordinated Notes due 2026
Adjustments to reconcile net loss to net cash used in operating activities:
(Gain) loss on extinguishment of debt		(61.2)
Schedule of non-cash activities:
Extinguishment of Second Lien Notes due 2026 in exchange for share issuance	[1]	263.6	238.6
Second Lien Notes
Cash flows from financing activities:
Repurchase of Senior Subordinated Notes due		(83.2)	(139.9)	(68.3)
Schedule of non-cash activities:
Extinguishment of Second Lien Notes due 2026 in exchange for share issuance	[1]	2.3
Second Lien Notes Exchanged for 2029 Term Loans
Schedule of non-cash activities:
Extinguishment of Second Lien Notes due 2026 in exchange for share issuance	[1]	104.2
Second Lien Notes in Exchange for 2030 Exchangeable Notes
Schedule of non-cash activities:
Extinguishment of Second Lien Notes due 2026 in exchange for share issuance	[1]	414.4
Senior Secured Credit Facility Term Loan Due 2026
Cash flows from financing activities:
Principal payments under Term Loan due 2026		(27)
Repurchase of Senior Subordinated Notes due 2025
Cash flows from financing activities:
Repurchase of Senior Subordinated Notes due		(14.8)
Repurchase of Senior Subordinated Notes due 2026
Cash flows from financing activities:
Repurchase of Senior Subordinated Notes due		(6)	$ (1.7)
Repurchase of Senior Subordinated Notes due 2027
Cash flows from financing activities:
Repurchase of Senior Subordinated Notes due				(1.6)
Senior Subordinated Notes due 2024
Cash flows from financing activities:
Principal payments of notes		(5)
Term Loan due 2029
Cash flows from financing activities:
Proceeds from issuance of Term Loan due 2029		$ 27
Odeon Term Loan Facility due 2023
Cash flows from financing activities:
Debt extinguishment costs				(26.5)
Principal payments of notes				(476.6)
Odeon Senior Secured Note 2027
Cash flows from financing activities:
Proceeds from issuance of Notes				368
First Lien Toggle Notes due 2026.
Cash flows from financing activities:
Debt extinguishment costs				$ (14.6)
[1] See Note 8—Corporate Borrowings and Finance Lease Liabilities for further information on debt extinguishments and the Refinancing Transactions.

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' DEFICIT - USD ($) $ in Millions		Class A common stock Common Stock Forward purchase agreement	Class A common stock Common Stock	Series A Convertible Participating Preferred Stock Preferred Stock Forward purchase agreement	[2],[3]	Series A Convertible Participating Preferred Stock Preferred Stock		Depository Shares of AMC Preferred Equity Preferred Stock Forward purchase agreement	[2],[3]	Depository Shares of AMC Preferred Equity Preferred Stock		Additional Paid-in Capital Forward purchase agreement	[3]	Additional Paid-in Capital	Accumulated Other Comprehensive Loss	Accumulated Deficit	Total Stockholders' Deficit Forward purchase agreement		Total Stockholders' Deficit	Total
Balance at the beginning of the period at Dec. 31, 2021			$ 0.5							$ 0.1				$ 4,862	$ (28.1)	$ (6,624)			$ (1,789.5)
Balance (in shares) at Dec. 31, 2021	[1]		51,397,910			5,139,791	[2]			51,397,910	[2]
Increase (Decrease) in Stockholders' Equity
Net loss																(973.6)			(973.6)	$ (973.6)
Other comprehensive loss															(49.2)				(49.2)
Share issuances														217.6					217.6
Share issuance (in shares)	[1],[2]					2,077,482				20,774,813
Taxes paid for restricted unit withholdings														(52.3)					(52.3)
Stock-based compensation														22.5					22.5
Stock-based compensation (in shares)	[1]		285,982			28,599	[2]			285,982	[2]
Balance at the end of the period at Dec. 31, 2022			$ 0.5							$ 0.1				5,049.8	(77.3)	(7,597.6)			(2,624.5)
Balance (in shares) at Dec. 31, 2022	[1]		51,683,892			7,245,872	[2]			72,458,705	[2]
Increase (Decrease) in Stockholders' Equity
Net loss																(396.6)			(396.6)	(396.6)
Other comprehensive loss															(0.9)				(0.9)
Share issuances			$ 0.9									$ 193.7		759.4			$ 193.7	[3]	760.3
Share issuance (in shares)	[1]		88,030,843	1,976,213		705,036	[2]	19,762,130		7,050,362	[2]
Conversion of convertible securities			$ 1							$ (0.1)				(0.9)
Conversion of convertible securities (in shares)	[1]		99,540,642			(9,954,065)	[2]			(99,540,642)	[2]
Settlement payment			$ 0.1											99.2					99.3
Settlement payment (In shares)	[1]		6,897,018
Debt for equity exchange			$ 0.1											92.8					92.9
Debt for equity exchange (shares)	[1]		14,186,651
Taxes paid for restricted unit withholdings														(14.2)					(14.2)
Stock-based compensation														42.1					42.1
Stock-based compensation (in shares)	[1]		235,346			26,944	[2]			269,445	[2]
Balance at the end of the period at Dec. 31, 2023			$ 2.6											6,221.9	(78.2)	(7,994.2)			(1,847.9)
Balance (in shares) at Dec. 31, 2023	[1]		260,574,392
Increase (Decrease) in Stockholders' Equity
Net loss																(352.6)			(352.6)	$ (352.6)
Other comprehensive loss															(53.8)				(53.8)
Share issuances		$ 0.3	$ 0.7											252.8			$ 0.3		253.5
Share issuance (in shares)	[1]	30,000,000	75,497,216
Debt for equity exchange			$ 0.5											219.8					220.3
Debt for equity exchange (shares)	[1]		47,654,455
Taxes paid for restricted unit withholdings														(2.2)					(2.2)
Stock-based compensation	[4]													21.9					21.9
Stock-based compensation (in shares)	[1],[4]		691,734
Balance at the end of the period at Dec. 31, 2024			$ 4.1											$ 6,714.2	$ (132)	$ (8,346.8)			$ (1,760.5)
Balance (in shares) at Dec. 31, 2024	[1]		414,417,797
[1] Share counts have been retroactively adjusted to reflect the effect of the reverse stock split. Share counts have been retroactively adjusted to reflect the effect of the stock split. Includes $75.1 million of cash proceeds and $118.6 million carrying value of the debt exchanged for AMC Preferred Equity Units. Includes 202,392 Common Stock shares awarded to the Board of Directors and 489,342 vested Common Stock RSUs and PSUs.

CONSOLIDATED STATEMENTS OF ST_2

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' DEFICIT (Parenthetical) $ in Millions	12 Months Ended
	Dec. 31, 2024 shares
Common Stock | RSU and PSU Units
Shares Vested	489,342
Common Stock | Board of Director
Stock-based compensation (in shares)	202,392

THE COMPANY AND SIGNIFICANT ACC

THE COMPANY AND SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2024
THE COMPANY AND SIGNIFICANT ACCOUNTING POLICIES
THE COMPANY AND SIGNIFICANT ACCOUNTING POLICIES	NOTE 1—THE COMPANY AND SIGNIFICANT ACCOUNTING POLICIES ​ AMC Entertainment Holdings, Inc. (“Holdings”), through its direct and indirect subsidiaries, including American Multi-Cinema, Inc. (“Multi-Cinema”) 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. Stock Split and Reverse Stock Split. On August 24, 2023, the Company effectuated a reverse stock split at a ratio of one share of Common Stock for every ten shares of Common Stock. As a result of the reverse stock split, each share of Series A Convertible Participating Preferred Stock became convertible into ten shares of Common Stock, and by extension each AMC Preferred Equity Unit became equivalent to one-tenth (1/10th) of a share of Common Stock. The reverse stock split did not impact the number of AMC Preferred Equity Units outstanding. The Company concluded that this change in conversion ratio is analogous to a reverse stock split of the AMC Preferred Equity Units even though the reverse stock split did not have an effect on the number of AMC Preferred Equity Units outstanding. Accordingly, all references made to share, per share, unit, per unit, or common share amounts in the accompanying consolidated financial statements and applicable disclosures have been retroactively adjusted to reflect both the effects of the special dividend as a stock split and the subsequent reverse stock split. References made to AMC Preferred Equity Units have been retroactively adjusted to reflect the effect of the reverse stock split on their equivalent Common Stock shares. Liquidity. There can be no assurance that the revenues, attendance levels, and other assumptions used to estimate the Company’s liquidity requirements and future cash burn rates will be correct, and the ability to be predictive is uncertain due to limited ability to predict studio film release dates, the overall production and theatrical release levels, and success of individual titles. Further, there can be no assurances that the Company will be successful in generating the additional liquidity necessary to meet the Company’s obligations beyond twelve months from the issuance of these financial statements on terms acceptable to the Company or at all. The Company expects, from time to time, to continue to seek to retire or purchase its outstanding debt through cash purchases and/or exchanges for equity or debt, in open-market purchases, privately negotiated transactions or otherwise. Such repurchases or exchanges, if any, will be upon such terms and at such prices as it may determine, and will depend on prevailing market conditions, its liquidity requirements, contractual restrictions and other factors. The amounts involved may be material and to the extent equity is used, dilutive. See Note 8—Corporate Borrowings and Finance Lease Liabilities for a summary of debt transactions that occurred during the years ended December 31, 2024, December 31, 2023, and December 31, 2022. Additionally, the Company has bolstered its liquidity through sales of its Common Stock, see Note 9—Stockholders’ Deficit and Note 16—Subsequent Events for further information on these sales. As of April 19, 2024, and in anticipation of the maturity of the Senior Secured Revolving Credit Facility, the Company voluntarily terminated the commitments under the Senior Secured Revolving Credit Facility in full and paid off any remaining obligations with respect to the Senior Secured Revolving Credit Facility. The financial covenants and related covenant suspension conditions are no longer in effect pursuant to the terms of the Credit Agreement dated as of April 30, 2013 (as amended, restated, amended and restated, supplemented or otherwise modified). The Company currently does not expect to replace the Senior Secured Revolving Credit Facility. The Company has entered into a new letter of credit facility in order to continue to provide letters of credit in the ordinary course of business following the termination of the Senior Secured Revolving Credit Facility. Use of Estimates. The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Principles of Consolidation. The consolidated financial statements include the accounts of Holdings and all subsidiaries, as discussed above. All significant intercompany balances and transactions have been eliminated in consolidation. The Company manages its business under Revenues. The Company recognizes revenue, net of sales tax, when it satisfies a performance obligation by transferring control over a product or service to a customer. Admissions and food and beverage revenues are recorded at a point in time when a film is exhibited to a customer and when a customer takes possession of food and beverage offerings. The Company defers The Company recognizes income from non-redeemed or partially redeemed gift cards in proportion to the pattern of rights exercised by the customer (“proportional method”) where it applies an estimated non-redemption rate for its gift card sales channels, which range from 13% to 19% of the current month sales of gift cards, and the Company recognizes in other theatre revenues the total amount of expected income for non-redemption for that current month’s sales as income over the next 24 months in proportion to the pattern of actual redemptions. The Company has determined its non-redeemed rates and redemption patterns using more than 10 years of accumulated data. The Company also recognizes income from non-redeemed or partially redeemed exchange tickets using the proportional method. In the International markets, certain exchange tickets are subject to expiration dates, which triggers recognition of non-redemption in other revenues. The Company recognizes ticket fee revenues based on a gross transaction price. The Company is a principal (as opposed to agent) in the arrangement with third-party internet ticketing companies in regard to the sale of online tickets because the Company controls the online tickets before they are transferred to the customer. The online ticket fee revenues and the third-party commission or service fees are recorded in the line items other theatre revenues and operating expense, respectively, in the consolidated statements of operations. Film Exhibition Costs. Film exhibition costs are accrued based on the applicable box office receipts and estimates of the final settlement to the film licensors. Film exhibition costs include certain advertising costs. As of December 31, 2024 and December 31, 2023, the Company recorded film payables of Food and Beverage Costs. The Company records rebate payments from vendors as a reduction of food and beverage costs when earned. Exhibitor Services Agreement And Common Unit Adjustment Agreement. Pursuant to the Company’s Common Unit Adjustment Agreement (the “CUA Agreement”), from time to time common units of NCM held by the Founding Members will be adjusted up or down through a formula (the “CUA”), primarily based on increases or decreases in the number of theatre screens operated and theatre attendance generated by each Founding Member. The CUA is computed annually, except that an earlier CUA will occur for a Founding Member if its acquisition or disposition of theatres, in a single transaction or cumulatively since the most recent CUA, will cause a change of 2% or more in the total annual attendance of all of the Founding Members. In the event that a CUA is determined to be a negative number, the Founding Member shall cause, at its election, either (a) the transfer and surrender to NCM of a number of common units equal to all or part of such Founding Member’s CUA or (b) pay to NCM an amount equal to such Founding Member’s CUA calculated in accordance with the CUA Agreement. See Note 2 — — Customer Loyalty Programs. AMC Stubs ® TM ® ® TM The portion of the admissions and food and beverage revenues attributed to the rewards is deferred as a reduction of admissions and food and beverage revenues and is allocated between admissions and food and beverage revenues based on expected member redemptions. Upon redemption, deferred rewards are recognized as revenues along with associated cost of goods. The Company estimates point breakage in assigning value to the points at the time of sale based on historical trends. The annual membership fee for Premiere is allocated to the material rights for discounted or free products and services and is initially deferred, net of estimated refunds, and recognized as the rights are redeemed based on estimated utilization, over the one-year membership period in admissions, food and beverage, and other revenues. A portion of the revenues related to a material right are deferred as a virtual rewards performance obligation using the relative standalone selling price method and are recognized as the rights are redeemed or expire. A-List offers guests admission to movies at AMC up to three times per week including multiple movies per day and repeat visits to movies. Revenue is recognized ratably over the enrollment period. Advertising Costs. The Company expenses advertising costs as incurred and does not have any direct-response advertising recorded as assets. Advertising costs were Cash and Cash Equivalents. All investments purchased with an original maturity of three months or less are classified as cash equivalents. As of December 31, 2024, cash and cash equivalents for the U.S. markets and International markets were Restricted Cash. Restricted cash includes cash held in the Company's bank accounts as a guarantee for certain landlords and cash collateralized letters of credit relating to the Company’s insurance and utilities programs. The following table provides a reconciliation of cash and cash equivalents and restricted cash reported in the consolidated balance sheet to the total of the amounts in the consolidated statements of cash flows. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended (In millions) ​ December 31, 2024 ​ December 31, 2023 ​ December 31, 2022 Cash and cash equivalents ​ $ 632.3 ​ $ 884.3 ​ $ 631.5 Restricted cash ​ ​ 48.5 ​ ​ 27.1 ​ ​ 22.9 Total cash and cash equivalents and restricted cash in the statement of cash flows ​ $ 680.8 ​ $ 911.4 ​ $ 654.4 ​ As of December 31, 2024, restricted cash for the U.S. markets and International markets were $20.7 million and $27.8 million, respectively. As of December 31, 2023, restricted cash for the U.S. markets and International markets were $0 and $27.1 million, respectively. ​ Intangible Assets. ​ The Company first assesses the qualitative factors to determine whether the existence of events and circumstances indicate that it is more likely than not the fair value of an indefinite-lived intangible asset is less than its carrying amount as a basis for determining whether it is necessary to perform the quantitative impairment test. There were no intangible asset impairment charges incurred during the years ended December 31, 2024, December 31, 2023, and December 31, 2022. ​ Investments. The Company accounts for its investments in non-consolidated entities using either the cost or equity methods of accounting as appropriate, and has recorded the investments within other long-term assets in its consolidated balance sheets. Equity earnings and losses are recorded when the Company’s ownership interest provides the Company with significant influence. In 2024, the Company reclassified equity earnings and losses to other expense (income), all comparative periods have also been reclassified. The Company follows the guidance in ASC 323-30-35-3, investment in a limited liability company, which prescribes the use of the equity method for investments where the Company has significant influence. The Company classifies gains and losses on sales of investments or impairments accounted for using the cost method in investment expense (income). Gains and losses on cash sales are recorded using the weighted average cost of all interests in the investments. Gains and losses related to non-cash negative common unit adjustments are recorded using the weighted average cost of those units in NCM. See Note 6—Investments for further discussion of the Company’s investments in NCM. ​ Derivative Liability. The Company remeasures the derivative liability related to the conversion features in its Exchangeable Notes at fair value each reporting period, with changes in fair value recorded in the consolidated statement of operations in other expense (income). The Company has obtained an independent third-party valuation study to assist in determining fair value. The valuation studies use the Binomial Lattice approach and a re based on significant inputs not observable in the market and thus represent Level 3 measurements within the fair value measurement hierarchy Goodwill. The Company’s recorded goodwill was In accordance with ASC 350-20-35-30, goodwill of a reporting unit shall be tested for impairment between annual tests by assessing the qualitative factors to determine if an event occurs or changes in circumstances that would warrant an interim ASC 350 impairment analysis. If an impairment analysis is needed, the Company performs a quantitative impairment test for goodwill, which involves estimating the fair value of the reporting unit and comparing that value to its carrying value. If the estimated fair value of the reporting unit is less than its carrying value, the difference is recorded as goodwill impairment charge, not to exceed the total amount of goodwill allocated to that reporting unit. Qualitative impairment tests Other Long-term Assets. Other long-term assets are comprised principally of investments in partnerships and joint ventures and capitalized computer software, which is amortized over the estimated useful life of the software. Software amortization expense was — Accounts Payable. Under the Company’s cash management system, checks issued but not presented to banks frequently result in book overdraft balances for accounting purposes and are classified within accounts payable in the balance sheet. The change in book overdrafts is reported as a component of operating cash flows for accounts payable as they do not represent bank overdrafts. The amount of these checks included in accounts payable as of December 31, 2024 and December 31, 2023 was Leases. Operating lease right-of-use assets and lease liabilities were recorded at commencement date based on the present value of minimum lease payments over the remaining lease term. The minimum lease payments include base rent and other fixed payments, including fixed maintenance costs. The present value of the lease payments is calculated using the incremental borrowing rate for operating leases, which was determined using a portfolio approach based on the rate of interest that the Company would have to pay to borrow an amount equal to the lease payments on a collateralized basis over a similar term. Operating lease expense is recorded on a straight-line basis over the lease term. The Company elected the practical expedient to not separate lease and non-lease components and also elected the short-term practical expedient for all leases that qualify. As a result, the Company will not recognize right-of-use assets or liabilities for short-term leases that qualify for the short-term practical expedient, but instead will recognize the lease payments as lease cost on a straight-line basis over the lease term. The Company’s lease agreements do not contain residual value guarantees. Short-term leases and sublease arrangements are immaterial. Equipment leases primarily consist of food and beverage and digital equipment. ​ Impairment of Long-lived Assets. The Company reviews long-lived assets, including definite-lived intangibles and theatre assets (including operating lease right-of-use assets) whenever events or changes in circumstances indicate that the carrying amount of the asset group may not be fully recoverable. The Company identifies impairments related to internal use software when management determines that the remaining carrying value of the software will not be realized through future use. The Company evaluates events or circumstances, including competition in the markets where it operates, that would indicate the carrying value of the asset groups may not be fully recoverable. If an event or circumstance is identified indicating carrying value may not be recoverable, the sum of future undiscounted cash flows is compared to the carrying value. If the carrying value exceeds the future undiscounted cash flows, the asset group may be impaired. If the asset group is determined to be impaired, the carrying value of the asset group is reduced to fair value as estimated by a discounted cash flow model, with the difference recorded as an impairment charge. Asset groups are evaluated for impairment on an individual theatre basis, which management believes is the lowest level for which there are identifiable cash flows. The Company evaluates theatres using historical and projected data of theatre level cash flow as its primary indicator of potential impairment and considers the seasonality of its business when making these evaluations. The fair value of assets is determined as either the expected selling price less selling costs (where appropriate) or the present value of the estimated future cash flows, adjusted as necessary for market participant factors. There is considerable management judgment necessary to determine the estimated future cash flows and fair values of the Company’s theatres and other long-lived assets, and, accordingly, actual results could vary significantly from such estimates, which fall under Level 3 within the fair value measurement hierarchy, see Note 12 — The following table summarizes the Company’s impairments for the years ended December 31, 2024, December 31, 2023, and December 31, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended (In millions) December 31, 2024 December 31, 2023 December 31, 2022 Impairment of long-lived assets ​ $ 72.3 ​ $ 106.9 ​ $ 133.1 Impairment of other assets recorded in investment expense (income) ​ ​ — ​ ​ 1.0 ​ ​ — Total impairment loss ​ $ 72.3 ​ $ 107.9 ​ $ 133.1 During the year ended December 31, 2024, the Company recorded non-cash impairment of long-lived assets of $51.9 million on 39 theatres in the U.S. markets with 469 screens (in Alabama, California, Florida, Illinois, Indiana, Massachusetts, Michigan, Minnesota, New Jersey, New York, Pennsylvania, Texas, Virginia, and Washington) and $20.4 million on 23 theatres in the International markets with 188 screens (in Germany, Italy, Spain, and the UK), which were related to property, net and operating lease right-of-use assets, net. During the year ended December 31, 2023, the Company recorded non-cash impairment of long-lived assets of $49.2 million on 68 theatres in the U.S. markets with 738 screens and $57.7 million on 57 theatres in the International markets with 488 screens, which were related to property, net and operating lease right-of-use assets, net. In addition, during the year ended December 31, 2023, the Company recorded impairment losses of $1.0 million within investment expense (income), related to equity interest investments without a readily determinable fair value accounted for under the cost method in the U.S. markets. During the year ended December 31, 2022, the Company recorded non-cash impairment of long-lived assets of $73.4 million on 68 theatres in the U.S. markets with 817 screens and $59.7 million on 53 theatres in the International markets with 456 screens, which were related to property, net and operating lease right-of-use assets, net. Foreign Currency Translation. Operations outside the United States are generally measured using the local currency as the functional currency. Assets and liabilities are translated at the rates of exchange at the balance sheet date. Income and expense items are translated at average rates of exchange. The resulting translation adjustments are included in foreign currency translation adjustment, a separate component of accumulated other comprehensive income (loss). Gains and losses from foreign currency transactions are included in net earnings (loss), except those intercompany transactions of a long-term investment nature. If the Company substantially liquidates its investment in a foreign entity, any gain or loss on currency translation or transaction balance recorded in accumulated other comprehensive loss is recorded as part of a gain or loss on disposition. Employee Benefit Plans. The Company sponsors frozen non-contributory qualified and non-qualified defined benefit pension plans in the U.S. and frozen defined benefit pension plans in the UK and Sweden. The Company also sponsors various defined contribution plans. The following table sets forth the plans’ benefit obligations and plan assets included in the consolidated balance sheets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Pension Benefits ​ International Pension Benefits ​ ​ Year Ended ​ Year Ended (In millions) December 31, 2024 December 31, 2023 December 31, 2024 December 31, 2023 Aggregated projected benefit obligation at end of period (1) ​ $ (73.8) ​ $ (79.3) ​ $ (63.7) ​ $ (71.9) Aggregated fair value of plan assets at end of period ​ 59.5 ​ 58.3 ​ 66.6 ​ 76.7 Net (liability) asset for benefit cost - funded status ​ $ (14.3) ​ $ (21.0) ​ $ 2.9 ​ $ 4.8 (1) As of December 31, 2024 and December 31, 2023, U.S. aggregated accumulated benefit obligations were $73.8 million and $79.3 million, respectively, and International aggregated accumulated benefit obligations were $63.7 million and $71.9 million, respectively. The Company expects to contribute $2.4 million to the U.S. pension plans during the year ended December 31, 2025. The Company intends to make future cash contributions to the plans in an amount necessary to meet minimum funding requirements according to applicable benefit plan regulations. The weighted-average assumptions used to determine benefit obligations are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Pension Benefits ​ International Pension Benefits ​ ​ December 31, 2024 ​ December 31, 2023 ​ December 31, 2024 ​ December 31, 2023 Discount rate 5.43% ​ 4.76% ​ 5.18% ​ 4.53% Rate of compensation increase N/A ​ N/A ​ 2.22% ​ 2.07% ​ The weighted-average assumptions used to determine net periodic benefit cost are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Pension Benefits ​ International Pension Benefits ​ ​ Year Ended ​ Year Ended ​ ​ December 31, ​ December 31, ​ December 31, ​ December 31, ​ December 31, ​ December 31, ​ 2024 2023 2022 2024 2023 2022 Discount rate 4.76% ​ 4.97% ​ 2.66% ​ 4.53% ​ 4.82% ​ 1.79% Weighted average expected long-term return on plan assets 6.56% ​ 6.56% ​ 6.56% ​ 4.34% ​ 4.32% ​ 1.57% Rate of compensation increase N/A ​ N/A ​ N/A ​ 2.07% ​ 2.19% ​ 2.28% ​ Pension actuarial gains and losses are recorded in stockholders’ deficit as a component of accumulated other comprehensive loss. For further information, see Note 14—Accumulated Other Comprehensive Loss for pension amounts and activity recorded in accumulated other comprehensive loss. For the years ended December 31, 2024, December 31, 2023, and December 31, 2022, net periodic benefit costs (credits) were $1.8 million, $1.4 million, and $(0.6) million, respectively. The non-operating component of net periodic benefit costs is recorded in other expense (income) in the consolidated statements of operations. The following table provides the benefits expected to be paid in each of the next five years, and in the aggregate for the five years thereafter: ​ ​ ​ ​ ​ ​ ​ ​ (In millions) ​ U.S. Pension Benefits ​ International Pension Benefits 2025 ​ $ 4.7 ​ $ 3.9 2026 ​ 4.8 ​ ​ 4.0 2027 ​ 4.9 ​ ​ 4.1 2028 ​ 5.3 ​ ​ 4.3 2029 ​ 5.5 ​ ​ 4.4 Years 2030 - 2034 ​ 27.9 ​ ​ 24.1 ​ The Company’s investment objectives for its U.S. defined benefit pension plan investments are: (1) to preserve the value of its principal; (2) to maximize a real long-term return with respect to the plan assets consistent with minimizing risk; (3) to achieve and maintain adequate asset coverage for accrued benefits under the plan; and (4) to maintain sufficient liquidity for payment of the plan obligations and expenses. The Company uses a diversified allocation of equity, debt, commodity and real estate exposures that are customized to the plan’s cash flow benefit needs. A weighted average targeted allocation percentage is assigned to each asset class as follows: equity securities of 36%, debt securities of 60%, and private real estate of 4%. The International pension benefit plans do not have an established asset target allocation. Investments in the pension plan assets are measured at fair value on a recurring basis. As of December 31, 2024, for the U.S. investment portfolio, 94% were valued using the net asset value per share (or its equivalent) as a practical expedient and 6% of the investment included pooled separate accounts valued using market prices for the underlying instruments that were observable in the market or could be derived by observable market data from independent external valuation information (Level 2 of the fair value hierarchy). As of December 31, 2024, for the International investment portfolio, 12% consisting of cash and equivalents was valued using quoted market prices from actively traded markets (Level 1 of the fair value hierarchy), 22% included mutual funds valued using market prices for the underlying instruments that were observable in the market or could be derived by observable market data from independent external valuation information (Level 2 of the fair value hierarchy) and 66% were valued using the net asset value per share (or its equivalent) as a practical expedient. In June 2023, the High Court in the UK issued a ruling in respect of Virgin Media Limited v NTL Pension Trustees II Limited , that decided certain amendments were invalid for contracted-out salary-related defined benefit pension plans in the period from April 6, 1997 until April 6, 2016, if these amendments were not accompanied by actuarial confirmations (section 37 certificates). An appeal on this decision was heard in June 2024 and The Court of Appeal ruled in July 2024 and upheld the original High Court judgment, removing uncertainty around its application. In light of the ruling, the Company initiated an investigation with its pension trustees, of all known amendments to its two UK defined benefit pension plans during the affected period, with a view to determining whether section 37 certificates have been obtained where deemed required. The initial review concluded that across the two plans there are three documents where a section 37 certificate may have been required but the amendment document is silent. While further legal and actuarial analysis is required, including potentially awaiting further case law, given the nature of the amendments in question the Company does not believe the impact, if any, will be material to the projected benefit obligation. As of December 31, 2024, no specific adjustments for this matter have been included in estimating the projected benefit obligation and related net periodic benefit cost of the applicable plans. The Company will continue to monitor and keep the investigation outcomes under review as conclusions develop and/or change as a consequence of any subsequent court decisions, legislation and/or industry action. The Company sponsors various defined contribution plans which include company match features in the U.S. and Internationally. The expense related to defined contribution plans for the years ended December 31, 2024, December 31, 2023, and December 31, 2022, was $10.5 million, $9.8 million, and $9.0 million, respectively. ​ Income and Operating Taxes. The Company accounts for income taxes in accordance with ASC 740-10. Under ASC 740-10, deferred income tax effects of transactions reported in different periods for financial reporting and income tax return purposes are recorded by the asset and liability method. This method gives consideration to the future tax consequences of deferred income or expense items and recognizes changes in income tax laws in the period of enactment. Holdings and its domestic subsidiaries file a consolidated U.S. federal income tax return and combined income tax returns in certain state jurisdictions. Foreign subsidiaries file income tax returns in foreign jurisdictions. Income taxes are determined based on separate Company computations of income or loss. Tax sharing arrangements are in place and utilized when tax benefits from affiliates in the consolidated group are used to offset what would otherwise be taxable income generated by Holdings or another affiliate. Casualty Insurance. The Company is self-insured for general liability up to Government Assistance. The Company recognizes government assistance when the conditions of the grant have been met and there is reasonable assurance that the assistance will be received. Grants relating to specific costs are treated as a reduction of that cost in the consolidated statement of operations. General grants are recorded within other expense (income). Grants related to the construction of long-lived assets are treated as reductions to the cost of the associated assets. During the year ended December 31, 2024, the Company recognized government assistance in other income of $0.1 million related to government assistance for theatres impacted by flooding in Spain. During the year ended December 31, 2023, the Company recognized government assistance in other income of $4.8 million, primarily related to grants in the International markets. During the year ended December 31, 2022, the Company recognized government assistance in other income of $25.8 million, primarily related to grants in the International markets. The general requirements of the grants were that the grantees must have lost income due to the COVID-19 pandemic. The Company concluded all grant criteria had been met and therefore have recognized the entire award. Additionally, the Company recognized $4.5 million, $3.2 million and $1.9 million of government assistance as reduction to property, net during the years ended December 31, 2024, December 31, 2023, and December 31, 2022, respectively. The assistance relates to the construction of capital assets related to the innovation, modernization, and digitalization of the theatrical exhibition industry in certain countries in the International markets. During the years ended December 31, 2024 and December 31, 2023, the Company was awarded $9.7 million and $10.0 million, respectively, of tax credits in our International markets that have been or will be utilized to offset employer payroll tax or value-added tax liabilities. The tax credits are granted by the government to support entities in the film exhibition industry. The Company has recorded these credits as reductions to operating expense during 2024 and rent and operating expense during 2023 as those expenses were the basis for the tax credits awarded. Other Expense (Income): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended (In millions) December 31, 2024 December 31, 2023 December 31, 2022 Credit income related to contingent lease guarantees ​ $ — ​ $ — ​ $ (0.2) Governmental assistance – International markets ​ ​ (0.1) ​ ​ (3.8) ​ ​ (23.0) Governmental assistance – U.S. markets ​ ​ — ​ ​ (1.0) ​ ​ (2.8) Foreign currency transaction (gains) losses ​ ​ 7.0 ​ ​ (17.8) ​ ​ (12.3) Non-operating components of net periodic benefit cost (income) ​ ​ 1.8 ​ ​ 1.4 ​ ​ (0.6) Loss on extinguishment - First Lien Notes due 2025 ​ ​ — ​ ​ — ​ ​ 47.7 Loss on extinguishment - First Lien Notes due 2026 ​ ​ — ​ ​ — ​ ​ 54.4 Loss on extinguishment - First Lien Toggle Notes due 2026 ​ ​ — ​ ​ — ​ ​ 32.9 Gain on extinguishment - Second Lien Notes due 2026 ​ ​ (40.3) ​ ​ (140.5) ​ ​ (75.0) Loss on extinguishment - Senior Subordinated Notes due 2025 ​ ​ 2.7 ​ ​ — ​ ​ — Gain on extinguishment - Senior Subordinated Notes due 2026 ​ ​ (1.3) ​ ​ (2.3) ​ ​ — Gain on extinguishment - Senior Subordinated Notes due 2027 ​ ​ — ​ ​ —

REVENUE RECOGNITION

REVENUE RECOGNITION	12 Months Ended
	Dec. 31, 2024
REVENUE RECOGNITION
REVENUE RECOGNITION	NOTE 2—REVENUE RECOGNITION ​ Disaggregation of Revenue. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended (In millions) ​ December 31, 2024 ​ December 31, 2023 ​ December 31, 2022 Major revenue types ​ ​ ​ ​ ​ ​ ​ Admissions ​ $ 2,560.5 ​ $ 2,690.5 ​ $ 2,201.4 Food and beverage ​ ​ 1,624.9 ​ ​ 1,669.8 ​ ​ 1,313.7 Other theatre: ​ ​ ​ ​ ​ ​ ​ ​ ​ Advertising ​ ​ 132.9 ​ ​ 129.5 ​ ​ 122.7 Other theatre ​ ​ 318.9 ​ ​ 322.8 ​ ​ 273.6 Other theatre ​ ​ 451.8 ​ ​ 452.3 ​ ​ 396.3 Total revenues ​ $ 4,637.2 ​ $ 4,812.6 ​ $ 3,911.4 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended (In millions) ​ December 31, 2024 ​ December 31, 2023 ​ December 31, 2022 Timing of revenue recognition ​ ​ ​ ​ ​ ​ Products and services transferred at a point in time ​ $ 4,224.7 ​ $ 4,424.1 ​ $ 3,579.9 Products and services transferred over time ​ ​ 412.5 ​ ​ 388.5 ​ ​ 331.5 Total revenues ​ $ 4,637.2 ​ $ 4,812.6 ​ $ 3,911.4 (1) Amounts primarily include subscription and advertising revenues. ​ ​ The following tables provide the balances of receivables, net and deferred revenues and income: ​ ​ ​ ​ ​ ​ ​ ​ (In millions) ​ December 31, 2024 ​ December 31, 2023 Current assets ​ ​ ​ ​ ​ ​ Receivables related to contracts with customers ​ $ 86.0 ​ $ 113.5 Miscellaneous receivables ​ ​ 82.1 ​ ​ 90.2 Receivables, net ​ $ 168.1 ​ $ 203.7 ​ ​ ​ ​ ​ ​ ​ ​ (In millions) ​ December 31, 2024 ​ December 31, 2023 Current liabilities ​ ​ ​ ​ ​ ​ Deferred revenues related to contracts with customers ​ $ 425.6 ​ $ 415.3 Miscellaneous deferred income ​ ​ 6.8 ​ ​ 6.5 Deferred revenues and income ​ $ 432.4 ​ $ 421.8 ​ The significant changes in contract liabilities with customers included in deferred revenues and income are as follows: ​ ​ ​ ​ ​ ​ ​ Deferred Revenues ​ ​ Related to Contracts (In millions) ​ with Customers Balance December 31, 2022 ​ $ 398.8 Cash received in advance ​ ​ 331.7 Customer loyalty rewards accumulated, net of expirations: ​ ​ ​ Admission revenues ​ ​ 22.3 Food and beverage revenues ​ ​ 37.8 Other theatre revenues ​ ​ (1.3) Reclassification to revenue as the result of performance obligations satisfied: ​ ​ ​ Admission revenues ​ ​ (237.5) Food and beverage revenues ​ ​ (70.1) Other theatre revenues ​ ​ (64.1) Foreign currency translation adjustment ​ ​ (2.3) Balance December 31, 2023 ​ $ 415.3 Cash received in advance ​ ​ 354.1 Customer loyalty rewards accumulated, net of expirations: ​ ​ ​ Admission revenues ​ ​ 22.6 Food and beverage revenues ​ ​ 39.5 Other theatre revenues ​ ​ (2.6) Reclassification to revenue as the result of performance obligations satisfied: ​ ​ ​ Admission revenues ​ ​ (254.1) Food and beverage revenues ​ ​ (75.8) Other theatre revenues ​ ​ (73.2) Foreign currency translation adjustment ​ ​ (0.2) Balance December 31, 2024 ​ $ 425.6 (1) Includes movie tickets, food and beverage, gift cards, exchange tickets, subscription membership fees, and other loyalty membership fees. (2) Amount of rewards accumulated, net of expirations, that are attributed to loyalty programs. (3) Amount of rewards redeemed that are attributed to gift cards, exchange tickets, movie tickets, and loyalty programs. (4) Amounts relate to income from non-redeemed or partially redeemed gift cards, non-redeemed exchange tickets, subscription membership fees, and loyalty programs membership fees. The significant changes to contract liabilities included in the ESA in the consolidated balance sheets are as follows: ​ ​ ​ ​ ​ ​ ​ Exhibitor Services (In millions) ​ Agreement (1) Balance December 31, 2022 ​ $ 505.8 Reclassification, net of adjustments, for portion of the beginning balance to other theatre revenue, as the result of performance obligations satisfied ​ ​ (19.2) Balance December 31, 2023 ​ ​ 486.6 Reclassification of the beginning balance to other theatre revenue, as the result of performance obligations satisfied ​ ​ (22.6) Balance December 31, 2024 ​ $ 464.0 (1) Represents the carrying amount of the NCM common units that were previously received under the annual CUA and subsequent adjustments related to the NCM Bankruptcy, as discussed in greater detail below. The deferred revenues are being amortized to other theatre revenues over the remainder of the 30 -year term of the ESA ending in February 2037. ​ NCM Bankruptcy. Transaction Price Allocated to the Remaining Performance Obligations. ​ ​ ​ ​ ​ (In millions) ​ Exhibitor Services Agreement Year ended 2025 ​ $ 24.4 Year ended 2026 ​ ​ 26.2 Year ended 2027 ​ ​ 28.2 Year ended 2028 ​ ​ 30.4 Year ended 2029 ​ ​ 32.8 Years ended 2030 through February 2037 ​ ​ 322.0 Total ​ $ 464.0 ​ 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.

LEASES

LEASES	12 Months Ended
	Dec. 31, 2024
LEASES
LEASES	NOTE 3—LEASES The following table reflects the lease costs for the years indicated below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended ​ ​ ​ ​ December 31, ​ December 31, ​ December 31, (In millions) ​ Consolidated Statements of Operations ​ 2024 ​ 2023 ​ 2022 Operating lease cost ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Theatre properties ​ Rent ​ $ 775.3 ​ $ 788.1 ​ $ 812.0 Theatre properties ​ Operating expense ​ ​ 5.6 ​ ​ 2.0 ​ ​ 5.4 Equipment ​ Operating expense ​ ​ 31.1 ​ ​ 17.5 ​ ​ 8.6 Office and other ​ General and administrative: other ​ ​ 5.4 ​ ​ 5.4 ​ ​ 5.3 Finance lease cost ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amortization of finance lease assets ​ Depreciation and amortization ​ ​ 2.7 ​ ​ 2.0 ​ ​ 2.6 Interest expense on lease liabilities ​ Interest expense ​ ​ 3.4 ​ ​ 3.7 ​ ​ 4.1 Variable lease cost ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Theatre properties ​ Rent ​ ​ 98.3 ​ ​ 85.4 ​ ​ 74.2 Theatre properties ​ Interest expense ​ ​ 2.0 ​ ​ — ​ ​ — Equipment ​ Operating expense ​ ​ 65.4 ​ ​ 63.3 ​ ​ 60.0 Total lease cost ​ ​ ​ $ 989.2 ​ $ 967.4 ​ $ 972.2 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted Average ​ Weighted Average ​ ​ Remaining ​ Discount Lease Term and Discount Rate ​ Lease Term (years) ​ Rate Operating leases ​ ​ 8.1 ​ ​ 10.7% Finance leases ​ ​ 13.2 ​ ​ 6.4% ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended ​ ​ December 31, ​ December 31, ​ December 31, (In millions) ​ 2024 ​ 2023 ​ 2022 Cash paid for amounts included in the measurement of lease liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating cash flows used in finance leases ​ $ (3.4) ​ $ (3.7) ​ $ (3.8) Operating cash flows used in operating leases ​ ​ (925.1) ​ ​ (986.4) ​ ​ (1,032.4) Financing cash flows used in finance leases ​ ​ (4.6) ​ ​ (5.6) ​ ​ (9.4) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Landlord contributions: ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating cash flows provided by operating leases ​ ​ 31.8 ​ ​ 23.9 ​ ​ 19.9 Supplemental disclosure of noncash leasing activities: ​ ​ ​ ​ ​ ​ ​ ​ ​ Right-of-use assets obtained in exchange for new operating lease liabilities ​ ​ 196.3 ​ ​ 214.1 ​ ​ 277.3 Right-of-use assets obtained in exchange for new finance lease liabilities ​ ​ 2.6 ​ ​ — ​ ​ — ​ (1) Includes lease extensions and option exercises. Minimum annual payments required under existing operating and finance leases and the net present value thereof as of December 31, 2024 are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating Lease ​ Finance Lease (In millions) ​ Payments ​ Payments 2025 ​ ​ 911.2 ​ ​ 7.4 2026 ​ ​ 858.3 ​ ​ 7.5 2027 ​ ​ 796.2 ​ ​ 7.4 2028 ​ ​ 709.6 ​ ​ 7.4 2029 ​ ​ 604.8 ​ ​ 7.3 Thereafter ​ ​ 2,295.6 ​ ​ 38.0 Total lease payments ​ ​ 6,175.7 ​ ​ 75.0 Less imputed interest ​ ​ (2,023.2) ​ ​ (25.7) Total operating and finance lease liabilities, respectively ​ $ 4,152.5 ​ $ 49.3 ​ As of December 31, 2024, the Company had signed additional operating lease agreements for six theatres that have not yet commenced. The leases have terms ranging from 10 to 20 years and total lease payments of approximately $107.3 million. The timing of lease commencement is dependent on the landlord providing the Company with control and access to the related facility. During the year ended December 31, 2023, the Company received a $13.0 million buyout incentive from a landlord which provided the landlord the right to terminate the lease of one theatre. The incentive was treated as a reduction to rent expense in the Company’s consolidated statement of operations.

PROPERTY

PROPERTY	12 Months Ended
	Dec. 31, 2024
PROPERTY
PROPERTY	NOTE 4— PROPERTY ​ A summary of property is as follows: ​ ​ ​ ​ ​ ​ ​ ​ (In millions) December 31, 2024 December 31, 2023 Property owned: ​ ​ ​ ​ ​ ​ Land ​ $ 62.3 ​ $ 62.6 Buildings and improvements ​ 205.5 ​ 205.8 Leasehold improvements ​ 2,018.6 ​ 1,958.3 Furniture, fixtures and equipment ​ 2,386.6 ​ 2,387.0 ​ ​ 4,673.0 ​ 4,613.7 Less: accumulated depreciation ​ 3,265.1 ​ 3,091.7 ​ ​ ​ 1,407.9 ​ ​ 1,522.0 ​ ​ ​ ​ ​ ​ ​ Property leased under finance leases: ​ ​ ​ ​ ​ ​ Building and improvements ​ ​ 57.4 ​ ​ 56.5 Less: accumulated depreciation and amortization ​ ​ 23.0 ​ ​ 18.1 ​ ​ ​ 34.4 ​ ​ 38.4 ​ ​ $ 1,442.3 ​ $ 1,560.4 ​ Property is recorded at cost or fair value, in the case of property resulting from acquisitions. The Company uses the straight-line method in computing depreciation and amortization for financial reporting purposes. The estimated useful lives for leasehold improvements and buildings subject to a ground lease reflect the shorter of the expected useful lives of the assets or the base terms of the corresponding lease agreements for these leases for assets placed in service subsequent to the lease inception. The estimated useful lives are as follows: ​ ​ ​ ​ Buildings and improvements 1 to 40 years Leasehold improvements ​ 1 to 20 years Furniture, fixtures and equipment ​ 1 to 15 years ​ Expenditures for additions (including interest during construction) and betterments are capitalized, and expenditures for maintenance and repairs are charged to expense as incurred. The cost of assets retired or otherwise disposed of and the related accumulated depreciation and amortization are eliminated from the accounts in the year of disposal. Gains or losses resulting from property disposals are included in operating expense in the accompanying consolidated statements of operations. Depreciation expense was $295.4 million, $337.5 million, and $359.0 million for the years ended December 31, 2024, December 31, 2023 and December 31, 2022, respectively.

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS	12 Months Ended
	Dec. 31, 2024
GOODWILL AND INTANGIBLE ASSETS
GOODWILL AND INTANGIBLE ASSETS	NOTE 5—GOODWILL AND INTANGIBLE ASSETS ​ The following table summarizes the changes in goodwill by reporting unit: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Markets ​ International Markets ​ Consolidated Goodwill (In millions) ​ Gross Carrying Amount ​ Accumulated Impairment Losses ​ Net Carrying Amount ​ Gross Carrying Amount ​ Accumulated Impairment Losses ​ Net Carrying Amount ​ Gross Carrying Amount ​ Accumulated Impairment Losses ​ Net Carrying Amount Balance December 31, 2022 ​ $ 3,072.6 ​ $ (1,276.1) ​ $ 1,796.5 ​ $ 1,521.8 ​ $ (976.3) ​ $ 545.5 ​ $ 4,594.4 ​ $ (2,252.4) ​ $ 2,342.0 Currency translation adjustment ​ ​ — ​ ​ — ​ ​ — ​ ​ 67.7 ​ ​ (51.0) ​ ​ 16.7 ​ ​ 67.7 ​ ​ (51.0) ​ ​ 16.7 Balance December 31, 2023 ​ $ 3,072.6 ​ $ (1,276.1) ​ $ 1,796.5 ​ $ 1,589.5 ​ $ (1,027.3) ​ $ 562.2 ​ $ 4,662.1 ​ $ (2,303.4) ​ $ 2,358.7 Currency translation adjustment ​ ​ — ​ ​ — ​ ​ — ​ ​ (72.5) ​ ​ 14.9 ​ ​ (57.6) ​ ​ (72.5) ​ ​ 14.9 ​ ​ (57.6) Balance December 31, 2024 ​ $ 3,072.6 ​ $ (1,276.1) ​ $ 1,796.5 ​ $ 1,517.0 ​ $ (1,012.4) ​ $ 504.6 ​ $ 4,589.6 ​ $ (2,288.5) ​ $ 2,301.1 ​ Detail of other intangible assets is presented below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2024 ​ December 31, 2023 ​ ​ Gross ​ ​ Gross ​ ​ ​ ​ Remaining ​ Carrying ​ Accumulated ​ Carrying ​ Accumulated (In millions) ​ Useful Life ​ Amount ​ Amortization ​ Amount ​ Amortization Amortizable intangible assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Management contracts 1 year ​ $ 1.7 ​ $ (1.6) ​ $ 1.7 ​ $ (1.6) ​ Starplex trade name ​ 2 years ​ ​ 7.9 ​ ​ (6.6) ​ ​ 7.9 ​ ​ (5.7) ​ Total, amortizable ​ ​ ​ $ 9.6 ​ $ (8.2) ​ $ 9.6 ​ $ (7.3) ​ Non-amortizing intangible assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ AMC trademark ​ ​ ​ $ 104.4 ​ ​ ​ ​ $ 104.4 ​ ​ ​ ​ Odeon trade names ​ ​ ​ ​ 36.0 ​ ​ ​ ​ ​ 37.3 ​ ​ ​ ​ Nordic trade names ​ ​ ​ ​ 2.5 ​ ​ ​ ​ ​ 2.7 ​ ​ ​ ​ Total, unamortizable ​ ​ ​ $ 142.9 ​ ​ ​ ​ $ 144.4 ​ ​ ​ ​ ​ Amortization expense associated with the intangible assets noted above is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended ​ (In millions) December 31, 2024 December 31, 2023 December 31, 2022 ​ Recorded amortization ​ $ 0.8 ​ $ 2.1 ​ $ 2.6 ​ ​

INVESTMENTS

INVESTMENTS	12 Months Ended
	Dec. 31, 2024
INVESTMENTS
INVESTMENTS	NOTE 6—INVESTMENTS ​ Investments in non-consolidated affiliates and certain other investments accounted for under the equity method generally include all entities in which the Company or its subsidiaries have significant influence, but not more than 50% voting control, and are recorded in the consolidated balance sheets in other long-term assets. On December 30, 2022, the Company entered into an agreement to sell its 10.0% investment in Saudi Cinema Company LLC for SAR 112.5 million ($30.0 million), and on January 24, 2023, the Saudi Ministry of Commerce recorded the sale of equity and the Company received the proceeds on January 25, 2023. The Company recorded a gain on the sale of $15.5 million in investment income during the year ended December 31, 2023. Investments in non-consolidated affiliates as of December 31, 2024, include interests in DCDC of 14.6%, AC JV, owner of Fathom Events, of 32.0%, SV Holdco, owner of Screenvision, of 18.4%, Digital Cinema Media Limited (“DCM”) of 50.0%, Handelsbolaget Svenska Bio Lidingo of 50.0%, Bergen Kino AS of 49.0%, Odeon Kino Stavanger/Sandnes AS of 49.0%, CAPA Kinoreklame AS (“Capa”) of 50.0% and Vasteras Biografer, Aktiebolaget Svensk Filmindustri & Co (“Vasteras”) of 50.0%. Through its various investments the Company has interests in four U.S. motion picture theatres and 61 theatres in Europe. Indebtedness held by equity method investees is non-recourse to the Company. Investment in Hycroft On March 14, 2022, the Company purchased 2.3 million units of Hycroft, with each unit consisting of one common share of Hycroft and one common share purchase warrant. Each warrant is exercisable for one common share of Hycroft at a price of $10.68 per share over a 5-year term through March 2027. The preceding amounts have been adjusted for the one-for-ten The Company accounts for the common shares of Hycroft under the equity method and we have elected the fair value option in accordance with ASC 825-10. The Company account for the warrants as derivatives in accordance with ASC 815. Accordingly, the fair value of the investments in Hycroft are remeasured at each subsequent reporting period and unrealized gains and losses are reported in investment expense (income). During the years ended December 31, 2024, December 31, 2023, and December 31, 2022, the Company recorded unrealized losses related to the investment in Hycroft of $3.0 million $12.6 million and $6.3 million, respectively, in investment expense (income), respectively. NCM Transactions In March 2022, the NCM CUA resulted in a positive adjustment of 5,954,646 common units for the Company. The Company received the units and recorded the common units as an addition to deferred revenues for the ESA at a fair value of $15.0 million. During the year ended December 31, 2022, the Company sold its shares of NCM for $1.5 million and recorded a realized loss in investment expense of $13.5 million. See Note 1 — — DCIP Transactions During the year ended December 31, 2022, DCIP ceased operations and the Company received a liquidation distribution of $3.4 million which the Company recorded as equity in earnings. ​ Summary Financial Information Investments in non-consolidated affiliates accounted for under the equity method as of December 31, 2024, include interests in Hycroft, SV Holdco, DCM, AC JV, DCDC, 61 theatres in Europe, four U.S. motion picture theatres, and other immaterial investments. Condensed financial information of the Company’s non-consolidated equity method investments is shown below with amounts presented under U.S. GAAP: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (In millions) December 31, 2024 ​ December 31, 2023 Current assets ​ $ 230.8 ​ $ 263.8 Noncurrent assets ​ ​ 199.0 ​ 224.7 Total assets ​ ​ 429.8 ​ 488.5 Current liabilities ​ ​ 280.4 ​ 130.9 Noncurrent liabilities ​ ​ 231.5 ​ 385.0 Total liabilities ​ ​ 511.9 ​ 515.9 Stockholders’ deficit ​ ​ (82.1) ​ (27.4) Liabilities and stockholders’ deficit ​ ​ 429.8 ​ 488.5 The Company’s recorded investment ​ ​ 53.6 ​ ​ 56.4 ​ Condensed financial information of the Company’s non-consolidated equity method investments is shown below and amounts are presented under U.S. GAAP for the periods of ownership by the Company: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended ​ ​ December 31, ​ December 31, ​ December 31, (In millions) 2024 2023 ​ 2022 Revenues ​ $ 473.5 ​ $ 425.6 ​ $ 412.8 Operating costs and expenses ​ ​ 489.9 ​ ​ 449.9 ​ ​ 498.2 Net loss ​ $ (16.4) ​ $ (24.3) ​ $ (85.4) ​ Related Party Transactions The Company recorded the following related party transactions with equity method investees: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of As of (In millions) ​ December 31, 2024 December 31, 2023 Due from DCM for on-screen advertising revenue ​ $ 3.9 ​ $ 3.3 Loan receivable from DCM ​ ​ 0.6 ​ ​ 0.6 Due to AC JV for Fathom Events programming ​ ​ (1.5) ​ ​ (2.3) Loan receivable from Vasteras ​ ​ 0.8 ​ ​ 1.0 Due from Capa for on-screen advertising revenue ​ ​ 1.4 ​ ​ 1.4 Due to Vasteras ​ ​ (0.6) ​ ​ (0.9) Due to U.S. theatre partnerships ​ ​ (0.7) ​ ​ (0.6) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended (In millions) ​ Consolidated Statements of Operations ​ December 31, 2024 ​ December 31, 2023 ​ December 31, 2022 DCM screen advertising revenues ​ Other revenues ​ $ 17.8 ​ $ 18.8 ​ $ 17.0 DCDC content delivery services ​ Operating expense ​ ​ 1.3 ​ ​ 1.4 ​ ​ 1.0 Gross exhibition cost on AC JV Fathom Events programming ​ Film exhibition costs ​ ​ 29.6 ​ ​ 17.5 ​ ​ 11.6 Screenvision screen advertising revenues ​ Other revenues ​ ​ 7.3 ​ ​ 8.7 ​ ​ 6.9 Capa advertising revenues ​ Other revenues ​ ​ 1.6 ​ ​ 1.1 ​ ​ 2.4 ​

SUPPLEMENTAL BALANCE SHEET INFO

SUPPLEMENTAL BALANCE SHEET INFORMATION	12 Months Ended
	Dec. 31, 2024
SUPPLEMENTAL BALANCE SHEET INFORMATION
SUPPLEMENTAL BALANCE SHEET INFORMATION	NOTE 7—SUPPLEMENTAL BALANCE SHEET INFORMATION ​ Other assets and liabilities consist of the following: ​ ​ ​ ​ ​ ​ ​ ​ (In millions) December 31, 2024 December 31, 2023 Other current assets: ​ ​ ​ ​ ​ ​ Income taxes receivable ​ $ 1.4 ​ $ 1.5 Prepaids ​ 36.0 ​ 32.5 Merchandise inventory ​ 51.2 ​ 39.5 Other ​ 9.7 ​ 14.5 ​ ​ $ 98.3 ​ $ 88.0 Other long-term assets: ​ ​ ​ ​ ​ ​ Investments in real estate ​ $ 3.5 ​ $ 3.6 Deferred financing costs revolving credit facility ​ — ​ 0.7 Investments in equity method investees ​ 53.6 ​ 56.4 Computer software ​ 86.4 ​ 76.6 Investment in common stock ​ 10.4 ​ 10.4 Pension asset ​ ​ 14.2 ​ 17.2 Investment in Hycroft common stock ​ ​ 5.3 ​ 5.8 Investment in Hycroft warrants ​ ​ 0.8 ​ 3.3 Other ​ 18.3 ​ 21.8 ​ ​ $ 192.5 ​ $ 195.8 Accrued expenses and other liabilities: ​ ​ ​ ​ ​ ​ Taxes other than income ​ $ 79.8 ​ $ 76.4 Interest ​ 43.1 ​ 50.3 Payroll and vacation ​ 57.9 ​ 50.4 Current portion of casualty claims and premiums ​ 9.8 ​ 9.3 Accrued bonus ​ 47.7 ​ 56.7 Accrued licensing and variable rent ​ 27.5 ​ 24.6 Current portion of pension ​ ​ 0.2 ​ ​ 0.1 Group insurance reserve ​ ​ 1.5 ​ ​ 3.4 Accrued tax payable ​ ​ 1.5 ​ ​ 1.7 Other ​ 71.6 ​ 77.9 ​ ​ $ 340.6 ​ $ 350.8 Other long-term liabilities: ​ ​ ​ ​ ​ ​ Pension ​ $ 25.4 ​ $ 33.3 Casualty claims and premiums ​ 16.2 ​ 13.5 Contingencies ​ ​ 9.4 ​ ​ 18.7 Other ​ 30.9 ​ 37.2 ​ ​ $ 81.9 ​ $ 102.7 ​ (1) The equity method investment in Hycroft and related warrants are measured at fair value. See Note 6—Investments and Note 12—Fair Value Measurements for further information regarding the investment in Hycroft.

CORPORATE BORROWINGS AND FINANC

CORPORATE BORROWINGS AND FINANCE LEASE LIABILITIES	12 Months Ended
	Dec. 31, 2024
CORPORATE BORROWINGS AND FINANCE LEASE LIABILITIES
CORPORATE BORROWINGS AND FINANCE LEASE LIABILITIES	NOTE 8—CORPORATE BORROWINGS AND FINANCE LEASE LIABILITIES A summary of the carrying value of corporate borrowings and finance lease liabilities is as follows: ​ ​ ​ ​ ​ ​ ​ ​ (In millions) December 31, 2024 December 31, 2023 Secured Debt: ​ ​ ​ ​ ​ ​ Credit Agreement-Term Loans due 2029 (11.356% as of December 31, 2024) ​ $ 2,014.2 ​ $ — 12.75% Odeon Senior Secured Notes due 2027 ​ ​ 400.0 ​ ​ 400.0 7.5% First Lien Notes due 2029 ​ ​ 950.0 ​ ​ 950.0 Senior Secured Credit Facility-Term Loan due 2026 (8.474% as of December 31, 2023) ​ ​ — ​ ​ 1,905.0 6.00%/8.00% Cash/PIK Toggle Senior Secured Exchangeable Notes due 2030 ​ ​ 427.6 ​ ​ — Subordinated Debt: ​ ​ ​ ​ ​ ​ 10%/12% Cash/PIK Toggle Second Lien Subordinated Notes due 2026 ​ ​ 131.2 ​ ​ 968.9 6.375% Senior Subordinated Notes due 2024 (£4.0 million par value as of December 31, 2023) ​ ​ — ​ ​ 5.1 5.75% Senior Subordinated Notes due 2025 ​ ​ 44.1 ​ ​ 98.3 5.875% Senior Subordinated Notes due 2026 ​ ​ 41.9 ​ ​ 51.5 6.125% Senior Subordinated Notes due 2027 ​ ​ 125.5 ​ ​ 125.5 Total principal amount of corporate borrowings ​ $ 4,134.5 ​ $ 4,504.3 Finance lease liabilities ​ 49.3 ​ 55.4 Paid-in-kind interest for 6.00%/8.00% Cash/PIK Toggle Senior Secured Exchangeable Notes due 2030 ​ ​ 1.5 ​ ​ — Deferred financing costs ​ ​ (47.2) ​ ​ (31.1) Net premium (discount) ​ ​ (171.3) ​ ​ 104.2 Derivative liability - Conversion Option ​ ​ 157.6 ​ ​ — Total carrying value of corporate borrowings and finance lease liabilities ​ $ 4,124.4 ​ $ 4,632.8 Less: ​ ​ ​ ​ ​ ​ Current maturities of corporate borrowings ​ ​ (64.2) ​ (25.1) Current maturities of finance lease liabilities ​ ​ (4.4) ​ ​ (5.4) Total noncurrent carrying value of corporate borrowings and finance lease liabilities ​ $ 4,055.8 ​ $ 4,602.3 ​ (1) The following table provides the net premium (discount) amounts of corporate borrowings: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, (In millions) ​ 2024 ​ 2023 10%/12% Cash/PIK Toggle Second Lien Subordinated Notes due 2026 ​ $ 10.9 ​ $ 133.9 Senior Secured Credit Facility-Term Loan due 2026 ​ ​ — ​ ​ (3.3) 12.75% Odeon Senior Secured Notes due 2027 ​ ​ (20.9) ​ ​ (26.4) Credit Agreement-Term Loans due 2029 ​ ​ (43.4) ​ ​ — 6.00%/8.00% Cash/PIK/Toggle Senior Secured Exchangeable Notes due 2030 ​ ​ (117.9) ​ ​ — Net premium (discount) ​ $ (171.3) ​ $ 104.2 ​ ​ The following table provides the principal payments required and maturities of corporate borrowings as of December 31, 2024: ​ ​ ​ ​ ​ ​ ​ Principal ​ ​ Amount of ​ ​ Corporate (In millions) Borrowings 2025 ​ ​ 64.2 2026 ​ 192.9 2027 ​ 545.1 2028 ​ 19.5 2029 ​ 2,885.2 Thereafter ​ ​ 427.6 Total ​ $ 4,134.5 ​ Debt Repurchases and Exchanges The below table summarizes the various cash debt repurchase transactions, debt for equity exchange transactions, and cash and debt for equity exchange transactions that occurred during the year ended December 31, 2024. The debt for equity exchange transactions were treated as early extinguishments of debt. In accordance with ASC 470-50-40-3, the reacquisition price of the extinguished debt was determined to be the fair value of the Common Stock exchanged. The below table does not include the Refinancing Transactions described further below. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Shares of ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Aggregate Principal ​ Common Stock ​ Reacquisition ​ (Gain)/Loss on ​ Accrued Interest (In millions, except for share data) ​ Repurchased/Exchanged ​ Exchanged ​ Cost ​ Extinguishment ​ Paid/Exchanged Cash debt repurchase transactions: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 5.75% Senior Subordinated Notes due 2025 ​ $ 8.9 ​ ​ — ​ $ 8.6 ​ $ (0.3) ​ $ 0.1 Second Lien Notes due 2026 ​ ​ 50.0 ​ ​ — ​ ​ 50.5 ​ ​ (4.4) ​ ​ 1.4 Total cash debt repurchase transactions ​ ​ 58.9 ​ ​ — ​ ​ 59.1 ​ ​ (4.7) ​ ​ 1.5 Debt for equity exchange transactions: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 5.75% Senior Subordinated Notes due 2025 ​ ​ 36.7 ​ ​ 9,017,297 ​ ​ 39.8 ​ ​ 3.2 ​ ​ 0.8 Second Lien Notes due 2026 ​ ​ 224.1 ​ ​ 35,062,835 ​ ​ 157.2 ​ ​ (93.1) ​ ​ 8.3 Total debt for equity exchange transactions ​ ​ 260.8 ​ ​ 44,080,132 ​ ​ 197.0 ​ ​ (89.9) ​ ​ 9.1 Cash and debt for equity exchange transactions: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 5.75% Senior Subordinated Notes due 2025 ​ ​ 8.6 ​ ​ 447,829 ​ ​ 8.4 ​ ​ (0.2) ​ ​ 0.1 5.875% Senior Subordinated Notes due 2026 ​ ​ 9.6 ​ ​ 432,777 ​ ​ 8.1 ​ ​ (1.3) ​ ​ 0.2 Second Lien Notes due 2026 ​ ​ 45.0 ​ ​ 2,693,717 ​ ​ 45.5 ​ ​ (4.0) ​ ​ 1.2 Total cash and debt for equity exchange transactions ​ ​ 63.2 ​ ​ 3,574,323 ​ ​ 62.0 ​ ​ (5.5) ​ ​ 1.5 Total debt repurchases and exchanges ​ $ 382.9 ​ ​ 47,654,455 ​ $ 318.1 ​ $ (100.1) ​ $ 12.1 ​ The below table summarizes the various cash debt repurchase and debt for equity exchange transactions during the year ended December 31, 2023, including related party transactions. These transactions were executed at terms equivalent to an arms-length transaction. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Shares of ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Aggregate Principal ​ Common Stock ​ Reacquisition ​ (Gain) on ​ Accrued Interest (In millions, except for share data) ​ Repurchased/Exchanged ​ Exchanged ​ Cost ​ Extinguishment ​ Paid/Exchanged Cash debt repurchase transactions: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Related party transactions: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Second Lien Notes due 2026 ​ $ 75.9 ​ $ — ​ $ 48.5 ​ $ (40.9) ​ $ 1.1 5.875% Senior Subordinated Notes due 2026 ​ ​ 4.1 ​ ​ — ​ ​ 1.7 ​ ​ (2.3) ​ ​ 0.1 Total related party transactions ​ ​ 80.0 ​ ​ — ​ ​ 50.2 ​ ​ (43.2) ​ ​ 1.2 Non-related party transactions: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Second Lien Notes due 2026 ​ ​ 139.7 ​ ​ — ​ ​ 91.4 ​ ​ (71.3) ​ ​ 4.5 Total non-related party transactions ​ ​ 139.7 ​ ​ — ​ ​ 91.4 ​ ​ (71.3) ​ ​ 4.5 Total cash debt repurchase transactions ​ $ 219.7 ​ $ — ​ $ 141.6 ​ $ (114.5) ​ $ 5.7 Debt for equity exchange transactions: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Second Lien Notes due 2026 ​ $ 105.3 ​ ​ 14,186,651 ​ ​ 91.7 ​ ​ (28.3) ​ ​ 1.2 Total debt repurchases and exchanges ​ $ 325.0 ​ ​ 14,186,651 ​ $ 233.3 ​ $ (142.8) ​ $ 6.9 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Aggregate Principal ​ Reacquisition ​ (Gain) on ​ Accrued Interest (In millions, except for share data) ​ Repurchased ​ Cost ​ Extinguishment ​ Paid Second Lien Notes due 2026 ​ $ 118.3 ​ $ 68.3 ​ $ (75.0) ​ $ 4.5 6.125% Senior Subordinated Notes due 2027 ​ ​ 5.3 ​ ​ 1.6 ​ ​ (3.7) ​ ​ — Total debt repurchase transactions ​ $ 123.6 ​ $ 69.9 ​ $ (78.7) ​ $ 4.5 ​ Refinancing Transactions On July 22, 2024 (the “Closing Date”), the Company completed a series of refinancing transactions (the “Refinancing Transactions”) with two creditor groups to refinance and extend to 2029 and 2030 the maturities of approximately $1.6 billion of the Company’s debt previously maturing in 2026. In connection with the refinancing on the Closing Date: ● Holdings and Muvico, LLC, a newly formed indirect wholly-owned subsidiary of Holdings (“Muvico”), entered into that certain credit agreement (the “New Term Loan Credit Agreement”), by and among Holdings and Muvico, each, as a borrower (collectively, the “New Term Loan Borrowers”), the lenders party thereto and Wilmington Savings Fund Society, FSB, as administrative agent and collateral agent (in such capacities, the “New Term Loan Agent”) pursuant to which Holdings and Muvico jointly and severally borrowed $ 1.2 billion of new term loans maturing 2029 (the “New Term Loans”). ● The New Term Loans were (i) used as consideration for the open market purchase of $ 1.1 billion of Holdings existing senior secured term loans maturing in 2026 (the “Existing Term Loans”) and (ii) exchanged for $104.2 million of Holdings’ 10% / 12% Cash/PIK Toggle Second Lien Subordinated Secured Notes due 2026 (the “Second Lien Notes”). Under the terms of the New Term Loan Credit Agreement, lenders of remaining Existing Term Loans were entitled to exchange their remaining Existing Term Loans for New Term Loans subject to certain terms and conditions. ● Muvico also completed a private offering for cash of $414.4 million aggregate principal amount of 6.00% / 8.00% Cash/PIK Toggle Senior Secured Exchangeable Notes (the “Exchangeable Notes”), which are guaranteed by Holdings, the existing guarantors under the Existing Term Loans, and the Existing First Lien Notes (as defined herein) (the “Existing Guarantors”) and Centertainment (as defined below) and which are exchangeable into Common Stock on the terms described herein. ● Muvico used the proceeds from the offering of the Exchangeable Notes to repurchase $414.4 million aggregate principal amount of the Second Lien Notes. In connection with the formation of Muvico, among other things: ● Holdings and certain of its subsidiaries transferred certain leases, owned real property and related assets and rights in respect of 175 theatres (the “Transferred Theatres”) to Muvico, along with certain intellectual property, including the AMC brand name (the “Transferred IP”), pursuant to an asset transfer agreement. ● Muvico and Multi-Cinema entered into a management services agreement, pursuant to which Muvico engaged Multi-Cinema to manage and operate the Transferred Theatres and provide certain other management services to Muvico. ● Muvico and Multi-Cinema entered into an intellectual property license, pursuant to which Muvico granted Multi-Cinema a license to use the Transferred IP. Muvico is a direct subsidiary of Centertainment Development, LLC (“Centertainment”). Each of Muvico and Centertainment is an “unrestricted subsidiary” under the Existing First Lien Notes and therefore not subject to various restrictive covenants under the agreements governing such indebtedness. During the third quarter of 2024, Holdings completed follow-on open market repurchases of the Existing Term Loans, and in exchange, issued to such selling holders the New Term Loans pursuant to the New Term Loan Credit Agreement of approximately $793.0 million. As of December 31, 2024, Holdings completed open market purchases of $1,895.0 million aggregate principal amount of its Existing Term Loans and issued $2,024.3 million aggregate principal amount of the New Term Loans. Accordingly, as of such date, Holdings had no remaining aggregate principal amount of the Existing Term Loans outstanding and the loan documents relating to the Existing Term Loans were terminated. The debt repurchases and exchanges for the Second Lien Notes were accounted for as extinguishments and resulted in a loss on extinguishment as follows: ​ ​ ​ ​ ​ (In millions) ​ Amount Fair value of Exchangeable Notes due 2030 ​ $ 293.6 Fair value of Conversion Option ​ ​ 233.4 Fair value of New Term Loans due 2029 ​ ​ 104.2 PIK fee paid to Second Lien Lenders ​ ​ 2.3 Cash fee paid to Second Lien Lenders ​ ​ 2.3 Second Lien Notes consideration ​ ​ 635.8 ​ ​ ​ ​ Principal Second Lien Notes ​ ​ 518.6 Premium Second Lien Notes ​ ​ 56.0 Carrying value Second Lien Notes ​ ​ 574.6 ​ ​ ​ ​ Loss on extinguishment of Second Lien Notes ​ $ 61.2 ​ The debt exchanges for the Existing Term Loans were accounted for as modifications and resulted in expense of approximately $42.3 million for costs paid to third parties. See Note 1—The Company and Significant Accounting Policies for additional information about the components of other expense (income) related to the Refinancing Transactions. ​ Exchangeable Notes Carrying value (in millions) as of December 31, 2024: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Carrying Value ​ ​ Additional ​ ​ ​ ​ Carrying Value ​ ​ at Issuance on ​ ​ Deferred ​ (Increase) Decrease to ​ as of ​ ​ July 22, 2024 ​ ​ Charges ​ Net Earnings (Loss) ​ December 31, 2024 Principal balance (1) ​ $ 414.4 ​ $ — ​ $ 13.2 ​ $ 427.6 Discount ​ ​ (120.8) ​ ​ — ​ ​ 2.9 ​ ​ (117.9) Debt issuance costs ​ ​ (23.2) ​ ​ (0.7) ​ ​ 0.6 ​ ​ (23.3) Accrued paid-in-kind interest ​ ​ — ​ ​ — ​ ​ 1.5 ​ ​ 1.5 Derivative liability ​ ​ 233.4 ​ ​ — ​ ​ (75.8) ​ ​ 157.6 Carrying value ​ $ 503.8 ​ $ (0.7) ​ $ (57.6) ​ $ 445.5 ​ (1) The change in principal balance is due to paid-in-kind interest. ​ On July 22, 2024, Muvico issued $414.4 million aggregate principal amount of its Exchangeable Notes. The Exchangeable Notes will bear interest at a rate of 6.00% per annum, if paid in cash, and 8.00% per annum, if paid in-kind by issuing the Exchangeable Notes (“PIK Notes”) having the same terms and conditions as the Exchangeable Notes (“PIK Interest”) in each case, payable semi-annually in arrears on June 15 and December 15, beginning on December 15, 2024. The Exchangeable Notes will mature on April 30, 2030, unless redeemed or exchanged in full prior to such maturity date, pursuant to the terms contained in the Exchangeable Notes Indenture as further discussed below. ​ At the time prior to the close of business on the second Trading Day (as defined in the Exchangeable Notes Indenture) immediately preceding the final maturity date of the Exchangeable Notes, each holder of the Exchangeable Notes shall have the right, at its option, to surrender for exchange all or a portion of its Exchangeable Notes at the Exchange Rate (as defined in the Exchangeable Notes Indenture) for Common Stock. The Exchange Rate is initially set at 176.6379 shares of the Common Stock per $1,000 principal amount of Exchangeable Notes exchanged, which reflects a price of $5.66 per share Common Stock (“Exchange Price”), which price is equal to 113% of the closing price per share of the Common Stock on July 19, 2024. The Exchange Rate is subject to customary adjustments and anti-dilution protections (as provided in the Exchangeable Notes Indenture). ​ At any time prior to the close of business on the second Trading Day immediately preceding the final maturity date of the Exchangeable Notes, Muvico will also have the right, at its election, to redeem all (but not less than all) of the outstanding Exchangeable Notes at a price equal to the aggregate principal amount of the Exchangeable Notes, plus accrued and unpaid interest thereon to, but excluding, the date of such redemption if the Daily VWAP (as defined in the Exchangeable Notes Indenture) per share of Common Stock exceeds 140% of the Exchange Price for fifteen (15) consecutive Trading Days ending on (and including) the Trading Day immediately before the date on which Muvico sends a notice to holders calling such Exchangeable Notes for redemption (a “Soft Call Notice”). Any such Soft Call Notice will provide that the applicable redemption of the Exchangeable Notes will occur on a business day of Muvico’s choosing, not more than ten (10) and not less than five (5) business days after the date of the Soft Call Notice. Notwithstanding the foregoing, holders of Exchangeable Notes will be entitled within two (2) business days of such Soft Call Notice to submit their Exchangeable Notes for exchange under the terms of the Exchangeable Notes Indenture. In the event that holders of Exchangeable Notes voluntarily elect to exchange their Exchangeable Notes, such holders will also be entitled to a make-whole premium (the “Exchange Adjustment Consideration”) equal to (i) prior to the third anniversary of the Issue Date, 18.0% of the aggregate principal amount of the Exchangeable Notes being exchanged; (ii) on or after the third anniversary and prior to the fourth anniversary of the Issue Date, 12.0% of the aggregate principal amount of the Exchangeable Notes being exchanged; and (iii) on or after the fourth anniversary of the Issue Date and prior to the fifth anniversary, 6.0% of the aggregate principal amount of the Exchangeable Notes being exchanged. Muvico, at its option, will be entitled to pay the Exchange Adjustment Consideration in the form of shares of Common Stock (using a modified exchange price equal to 140% of the Exchange Price), subject to restrictions under the New Term Loan Credit Agreement, cash in twelve (12) equal installments over the twelve-month period following the applicable exchange or a combination thereof. If certain corporate events that constitute a Fundamental Change (as defined in the Exchangeable Notes Indenture) occur, then holders will have the right to require Muvico to repurchase their Exchangeable Notes at a cash repurchase price equal to 100% of the aggregate principal amount of the Exchangeable Notes to be repurchased, plus accrued and unpaid interest, if any, thereon to, but excluding, the Fundamental Change Repurchase Date (as defined in the Exchangeable Notes Indenture). The definition of Fundamental Change includes certain business combination transactions involving the Company, stockholder approval of any plan or proposal for the liquidation or dissolution of the Company and certain de-listing events with respect to the Common Stock. Muvico will also be required to mandatorily redeem all of the issued and outstanding Exchangeable Notes at a purchase price equal to 100% of the aggregate principal amount, plus accrued and unpaid interest to, but excluding, the date of purchase in the event that, as of ninety (90) days prior to the maturity date of Holdings’ 7.50% first lien secured notes due 2029 (the “Existing First Lien Notes”), the aggregate principal amount outstanding of the Existing First Lien Notes with a maturity date prior to April 30, 2030 exceeds $190,000,000. The Exchangeable Notes Indenture contains covenants that limit the Centertainment Group Parties’ (as defined below) ability to, among other things: (i) incur additional indebtedness or guarantee indebtedness; (ii) create liens; (iii) declare or pay dividends, redeem stock or make other distributions to stockholders; (iv) make investments; (v) enter into transactions with its affiliates; (vi) consolidate, merge, sell or otherwise dispose of all or substantially all of their respective assets; and (vii) impair the security interest in the collateral. These covenants are subject to a number of limitations and exceptions. The Exchangeable Notes Indenture also incorporates the other restrictive covenants contained in the New Term Loan Credit Agreement. The Exchangeable Notes Indenture also provides for events of default, which, if any of them occur, would permit or require the principal, premium, if any, interest and any other monetary obligations on all the then outstanding Exchangeable Notes to be due and payable immediately. The Company analyzed the conversion option and Exchange Adjustment Consideration as one single conversion option (the “Conversion Option”). The Company bifurcated the Conversion Option from the principal balance of the Exchangeable Notes as a derivative liability. The Company bifurcated the Conversion Option as: (i) the economic characteristics of a conversion option embedded in a debt instrument are not clearly and closely related to the economic characteristics and risks of a debt host contract, as stated in ASC 815-15-25-51; (ii) the host debt instrument is not remeasured at fair value but rather, the Exchangeable Notes are measured at amortized cost; and (iii) the Conversion Option does not qualify for derivative scope exception under ASC 815-10-15-74(a). The Conversion Option also includes a make-whole adjustment, the Exchange Adjustment Consideration. The Exchange Adjustment Consideration (i.e., make-whole payment) does not meet the criteria for indexation under ASC 815-40-15-7C because the design of the feature does not meet the time-value scope exception and as a result is accounted for as a derivative. The initial estimated fair value of the Exchangeable Notes of $293.6 million resulted in a discount to the principal balance of $120.8 million and is amortized to interest expense over the term of the Exchangeable Notes. The Company also recorded deferred debt issuance costs of approximately $23.9 million related to the issuance of the Exchangeable Notes and will amortize those costs to interest expense following the effective interest method over the term of the Exchangeable Notes. The Exchangeable Notes have an effective rate of 15.12%. The Company recorded interest expense for the period from July 22, 2024 to December 31, 2024 of $18.2 million. The derivative liability is remeasured at fair value each reporting period with changes in fair value recorded in the consolidated statement of operations as other expense or income. See Note 12–Fair Value Measurements for a discussion of the valuation methodologies. The principal balance exceeded the if-converted value of the Exchangeable Notes (including the Exchange Adjustment Consideration paid in shares) by approximately $88.3 million as of December 31, 2024 based on the closing price per share of our common stock of $3.98 per share. New Term Loans due 2029. The New Term Loans mature on January 4, 2029 (or, if at least $190,000,000 remains outstanding of the (i) Existing First Lien Notes or (ii) any indebtedness in respect of any modification, refunding, replacement, substitution, restructuring or other refinancing of the Existing First Lien Notes on or prior to October 5, 2028, then October 5, 2028). The New Term Loans are subject to amortization of principal, payable in quarterly installments on the last business day of each fiscal quarter, commencing on September 30, 2024, equal to 1.00% per annum. The remaining aggregate principal amount outstanding (together with accrued and unpaid interest on the principal amount) of the New Term Loans is payable at maturity. The New Term Loans bear interest, at the option of the New Term Loan Borrowers, at rates equal to either (i) a base rate plus a margin of between 500 and 600 basis points depending on the total leverage ratio of the Company on a consolidated basis (the “Total Leverage Ratio”) or (ii) Term SOFR plus a margin of between 600 and 700 basis points depending on the Total Leverage Ratio. Until the delivery under the New Term Loan Credit Agreement of the financial statements for the first full fiscal quarter ending after the Closing Date, the New Term Loans bear interest, at the option of New Term Loan Borrowers, at either (a) the base rate plus a margin of 600 basis points or (b) Term SOFR plus a margin of 700 basis points. The New Term Loans are guaranteed, subject to limited exceptions, by Centertainment and the future subsidiaries of Centertainment and Muvico (collectively with Muvico, the “Centertainment Group Parties”) and the Existing Guarantors, and are secured by liens on substantially all of the tangible and intangible assets owned by the Company, in each case, subject to limited exceptions set forth in the New Term Loan Credit Agreement. The New Term Loan Credit Agreement contains covenants that limit the Company’s ability to, among other things: (i) incur additional indebtedness or guarantee indebtedness; (ii) create liens; (iii) declare or pay dividends, redeem stock or make other distributions to stockholders; (iv) make investments; (v) enter into transactions with its affiliates; (vi) consolidate, merge, sell or otherwise dispose of all or substantially all of their respective assets; and (vii) maintain cash in the accounts of the Company (other than the Centertainment Group Parties). These covenants are subject to a number of limitations and exceptions. The New Term Loan Credit Agreement also provides for events of default, which, if any of them occur, would permit or require the principal, premium, if any, interest and any other monetary obligations on all the then outstanding New Term Loans to become immediately due and payable. Unamortized discounts and deferred charges related to the Existing Term Loans of $6.5 million and fees paid to Existing Term Loan lenders of $45.7 million were recorded as deferred charges related to the New Term Loans and the Company will amortize those costs to interest expense following the effective interest method over the term of the New Term Loans. Senior Secured Credit Facilities. On June 23, 2023, Holdings and Wilmington Savings Fund Society, FSB, as administrative agent, entered into the thirteenth amendment to the Credit Agreement (the “Thirteenth Amendment”), pursuant to which LIBOR, the benchmark rate upon which certain loans, commitments and/or other extensions of credit under the Credit Agreement incur interest, fees or other amounts, was replaced with Term SOFR, a benchmark rate reported by the CME Group Benchmark Administration Limited that is based on the secured overnight financing rate. Term SOFR under the Credit Agreement is subject to a credit spread adjustment equal to 0.11448% per annum, 0.26161% per annum, and 0.42826% per annum for interest periods of one-month, three-months, or six-months or longer, respectively. The Thirteenth Amendment became effective at 5:00 p.m. (New York time) on June 30, 2023. The Company elected to apply the optional expedients allowed under ASC 848 regarding the discontinuation of LIBOR and reference rate reform. Pursuant to ASC 848, the Thirteenth Amendment was determined to be an insubstantial modification. The Existing Term Loans bore interest at a rate per annum equal to, at Holdings’ option, either (1) a base rate determined by reference to the highest of (a) 0.50% per annum plus the Federal Funds Effective Rate, (b) the prime rate announced by the Administrative Agent from time to time and (c) 1.00% per annum plus Adjusted Term SOFR (as defined below) for a 1-month tenor, or (2) Term SOFR plus a credit spread adjustment of 0.11448% per annum, 0.26161% per annum, and 0.42826% per annum for interest periods of one-month, three months, or six-months or longer, respectively (“Adjusted Term SOFR”) plus (x) in the case of the Existing Term Loans, 2.0% for base rate loans or 3.0% for SOFR loans or (y) in the case of the Senior Secured Revolving Credit Facility, an applicable margin based on the Secured Leverage Ratio (as defined in the Credit Agreement). On the Closing Date, the Company and Wilmington Savings Fund Society, FSB, as administrative agent, entered into the fourteenth amendment to the Credit Agreement (the “Fourteenth Amendment”), pursuant to which the administrative agent and lenders constituting the Required Lenders (as defined therein) permitted the Refinancing Transactions. The Company’s obligations under the Senior Secured Credit Facilities were completely repaid following the completion of the Refinancing Transactions. First Lien Notes due 2029. The First Lien Notes due 2029 bear cash interest at a rate of 7.5% per annum payable semi-annually in arrears on February 15 and August 15, beginning on August 15, 2022. The First Lien Notes due 2029 have not been registered under the Securities Act and will mature on February 15, 2029. Holdings may redeem some or all of the First Lien Notes due 2029 at any time on or after February 15, 2025, at the redemption prices equal to (i) 103.750% for the twelve-month period beginning on February 15, 2025; (ii) 101.875% for the twelve-month period beginning on February 15, 2026; and (iii) 100.0% at any time thereafter, plus accrued and unpaid interest. In addition, Holdings may redeem up to 35% of the aggregate principal amount of the First Lien Notes due 2029 using net proceeds from certain equity offerings completed prior to February 15, 2025 at a redemption price equal to 107.5% of their aggregate principal amount and accrued and unpaid interest to, but not including the date of redemption. Holdings may redeem some or all of the First Lien Notes due 2029 at any time prior to February 15, 2025 at a redemption price equal to 100% of their aggregate principal amount and accrued and unpaid interest to, but not including, the date of redemption, plus an applicable make-whole premium. Upon a Change of Control (as defined in the indenture governing the First Lien Notes due 2029), Holdings must offer to purchase the First Lien Notes due 2029 at a purchase price equal to 101% of the principal amounts, plus accrued and unpaid interest. The First Lien Notes due 2029 are guaranteed by the Existing Guarantors and are secured by liens on substantially all of the tangible and intangible assets owned by Holdings and the Existing Guarantors, subject to certain thresholds, exceptions and permitted liens. The indenture governing the First Lien Notes due 2029 contains covenants that restrict the ability of the Company to, among other things: (i) incur additional indebtedness, including additional senior indebtedness; (ii) pay dividends on or make other distributions in respect of its capital stock; (iii) purchase or redeem capital stock or pre-pay subordinated debt or other junior securities; (iv) create liens ranking pari passu in right of payment with or subordinated in right of payment to First Lien Notes due 2029; (v) enter into certain transactions with its affiliates; and (vi) merge or consolidate with other companies or transfer all or substantially all of their respective assets. These covenants are subject to a number of important limitations and exceptions. The indenture governing the First Lien Notes due 2029 also provides for events of default, which, if any occur, would permit or require the principal, interest and any other monetary obligations on all the then outstanding First Lien Notes due 2029 to be due and payable immediately. Odeon Senior Secured Notes due 2027. among other things: (i) incur additional indebtedness or guarantee indebtedness; (ii) create liens; (iii) declare or pay dividends, redeem stock or make other distributions to stockholders; (iv) make investments; (v) enter into transactions with affiliates; (vi) consolidate, merge, sell or otherwise dispose of all or substantially all of their respective assets; and (vii) impair the security interest in the collateral. These covenants are subject to several important limitations and exceptions. The indenture governing the Odeon Notes due 2027 also provides for events of default, which, if any occur, would permit or require principal, interest and any other monetary obligations on all the then outstanding Odeon Notes due 2027 to be due and payable immediately. The Company used the $363.0 million net proceeds from the Odeon Notes due 2027 and $146.7 million of existing cash to fund the repayment in full of the £147.6 million and €312.2 million ($167.7 million and $308.9 million, respectively using October 20, 2022 exchange rates) aggregate principal amounts of the Odeon Term Loan Facility and to pay related accrued interest, fees, costs, premiums and expenses. The Company recorded a loss on debt extinguishment related to this transaction of $36.5 million in other expense during the year ended December 31, 2022. Prior to November 1, 2024, up to 35% of the original aggregate principal amount of the Odeon Notes due 2027 may be redeemed at a price of 112.75% of the principal thereof with the net proceeds of one or more certain equity offerings provided that the redemption occurs with the 120 days after the closing of such equity offerings. On or after November 1, 2024, the Odeon Notes due 2027 will be redeemable, in whole or in part, at redemption prices equal to (i) 106.375% for the twelve-month period beginning on November 1, 2024; (ii) 103.188% for the twelve-month period beginning on November 1, 2025; and (iii) 100.000% at any time thereafter, plus accrued and unpaid interest, if any. If the Company or its restricted subsidiaries sell assets under certain circumstances, the Company will be required to use the net proceeds to repay the Odeon Notes due 2027 or any additional First Lien Obligations at a price no less than 100% of the issue price of the Odeon Notes due 2027, plus accrued and unpaid interest, if any. Upon a Change of Control (as defined in the indenture governing the Odeon Notes due 2027), the Company must offer to purchase the Odeon Notes due 2027 at a purchase price equal to 101% of the principal amount, plus accrued and unpaid interest, if any. On December 14, 2022, the Odeon Notes due 2027 were admitted to the official list of The International Stock Exchange (“TISE”). The Odeon Notes due 2027 will automatically delist from TISE on the business day following the maturity date of November 1, 2027, unless adequate notice is given together with supporting documents setting out any changes to the date of maturity or confirmation that the Odeon Notes due 2027 have not been fully repaid. Second Lien Notes due 2026. In connection with the Exchange Offers and the First Lien Notes due 2026, Holdings issued shares of Common Stock to certain holders of subordinated notes as consideration for their commitment to backstop the issuance of $200 million of the First Lien Notes due 2026. Pursuant to the Backstop Commitment Agreement dated July 10, 2020, certain of the actual or beneficial holders of Existing Subord

STOCKHOLDERS' DEFICIT

STOCKHOLDERS' DEFICIT	12 Months Ended
	Dec. 31, 2024
STOCKHOLDERS' DEFICIT
STOCKHOLDERS' DEFICIT	NOTE 9—STOCKHOLDERS’ DEFICIT ​ Share Rights and Privileges Common Stock Holders of the Company’s Common Stock are entitled to one vote per each share. Holders of Common Stock share ratably (based on the number of shares of Common Stock held) in any dividend declared by its board of directors, subject to any preferential rights of any outstanding preferred stock. The Common Stock is not convertible into any other shares of the Company’s capital stock. AMC Preferred Equity Units Each AMC Preferred Equity Unit was a depositary share and represented an interest in a share of Series A Convertible Participating Preferred Stock evidenced by a depositary receipt pursuant to a deposit agreement. Each AMC Preferred Equity Unit was designed to have the same economic and voting rights as a share Common Stock. Preferred Stock The Company has 50,000,000 authorized shares of preferred stock, none of which are issued or outstanding as of December 31, 2024 and December 31, 2023, respectively. Shareholder Litigation Two putative stockholder class actions were filed in the Delaware Chancery Court that assert a breach of fiduciary duty against certain of the Company’s directors and a claim for breach of 8 Del. C. § 242 This litigation prevented the Company from immediately implementing the Charter Amendments. On April 2, 2023, the parties entered into a binding settlement term sheet to settle the litigation and allow implementation of the Charter Amendments. On August 11, 2023, the Delaware Chancery Court approved the settlement and on August 21, 2023, the Delaware Supreme Court confirmed the ruling of the Chancery Court. Pursuant to the settlement term sheet, record holders of Common Stock at the close of business on August 24, 2023, after giving effect to the Reverse Stock Split, but prior to the conversion of AMC Preferred Equity Units into Common Stock (“Settlement Payment Recipients”), received a payment of one Charter Amendments and AMC Preferred Equity Unit Conversion On August 14, 2023, the Company filed an amendment to its Certificate of Incorporation to effectuate the Charter Amendments as of August 24, 2023. The Charter Amendments permitted the conversion of all of the Company’s outstanding AMC Preferred Equity Units into shares of Common Stock (the “Conversion”). On August 25, 2023, 99,540,642 shares of Common Stock were issued as part of the Conversion. On August 25, 2023, AMC Preferred Equity Units ceased trading and were subsequently delisted from the NYSE. On August 25, 2023, the Company filed a Certificate of Elimination of Series A Convertible Participating Preferred Stock with the Secretary of State of Delaware that eliminated the Series A Convertible Participating Preferred Stock from the Company’s Certificate of Incorporation. AMC’s Board of Directors approved equitable adjustments to all outstanding awards under the 2013 Equity Incentive Plan subsequent to the effectiveness of the Charter Amendments. The outstanding awards were proportionally adjusted consistent with the ratio used for the Reverse Stock Split and all awards previously convertible into AMC Preferred Equity Units are now convertible into Common Stock. ​ Stock Split and Reverse Stock Split On August 4, 2022, the Company announced that its Board of Directors declared a special dividend of one AMC Preferred Equity Unit for each share of Common Stock outstanding at the close of business on August 15, 2022, the record date. The dividend was paid at the close of business on August 19, 2022 to investors who held Common Stock as of August 22, 2022, the ex-dividend date. Due to the characteristics of the AMC Preferred Equity Units, the special dividend had the effect of a stock split pursuant to ASC 505-20-25-4. On August 24, 2023, the Company effectuated a reverse stock split at a ratio of one one Accordingly, all references made to share, per share, unit, per unit, or common share amounts in the accompanying consolidated financial statements and applicable disclosures have been retroactively adjusted to reflect both the effects of the special dividend as a stock split and the subsequent reverse stock split. References made to AMC Preferred Equity Units have been retroactively adjusted to reflect the effect of the reverse stock split on their equivalent Common Stock shares. Share Issuances On December 6, 2024, the Company entered into a sales and registration agreement (the “Sales and Registration Agreement”) with Goldman Sachs & Co. LLC, from time to time acting in its capacity as (1) sales agent (in such capacity, the “Sales Agent”) or (2) the Forward Seller of any and all Hedging Shares offered by the Forward Counterparty under one or more Forwards (in each case, as defined below) relating to an aggregate of up to 50,000,000 shares of Common Stock of the Company. In accordance with the terms of the Sales and Registration Agreement, the Company may issue and sell shares of Common Stock covered by the prospectus supplement at any time and from time to time through the Sales Agent. The Sales Agent may act as agent on the Company’s behalf or purchase shares of Common Stock from the Company as principal for its own account. The Company also entered into a master confirmation (the “Master Confirmation”) with Goldman Sachs International (in its capacity as buyer under any Forward (as hereinafter defined), the “Forward Counterparty”) pursuant to which the Company entered into forward transactions (each a “Forward”), under which the Company agreed to sell the number of shares of Common Stock specified in such Forward (subject to adjustment as set forth therein) to the Forward Counterparty. In respect of each Forward, to enable the Forward Counterparty to establish a hedge position with respect to such Forward, the Company effectively pledged up to the maximum number of shares of Common Stock deliverable under such Forward (the “Hedging Shares”), and to establish a hedge position under such Forward, the Forward Counterparty rehypothecated and sold such maximum number of shares through Goldman Sachs & Co. LLC acting as the statutory underwriter (in such capacity, the “Forward Seller”) in an offering under a prospectus supplement and accompanying prospectus over a period of time agreed between the Company and the Forward Counterparty for such Forward (an “Initial Hedging Period”), all subject to the terms of the Sales and Registration Agreement. On each trading day during the respective Initial Hedging Periods for each Forward, the Company instructed the Forward Counterparty on a day-by-day basis to sell a specified number of its shares, the total of each such trading day’s sales representing a component of such Forward (each a “Component”). The volume weighted average price per share for sales executed by the Forward Seller during the Initial Hedging Period for each Component (the “Reference Price”) was used to determine the floor price (“Forward Floor Price”) and cap price (“Forward Cap Price”) for such Component. The Forward Floor Price is intended to mitigate the downside risk of any potential decline in the share price below the Forward Floor Price during the valuation period, which extends approximately six months after the outside date to the Initial Hedging Period agreed between the Company and the Forward Counterparty. The Forward Cap Price limits the potential upside benefit to the extent the share price were to exceed the Forward Cap Price during the valuation period. The Company is entitled to a prepayment (a “Prepayment”), calculated on a Component basis for each Forward, in an amount equal to the product of (i) the number of shares sold by the Forward Seller during the Initial Hedging Period for such Forward, (ii) the Forward Floor Price and (iii) the relevant prepayment percentage agreed for such Forward. The Company received a Prepayment in respect of each Forward approximately three weeks after the completion of the Initial Hedging Period of the latest Forward. Each Forward is subject to a subsequent valuation period (the “Valuation Period”) that starts to run shortly after the outside date to the Initial Hedging Period agreed between the Company and the Forward Counterparty and ends on the final settlement date (the “Final Settlement Date”), subject to any acceleration of the scheduled maturity date of all or portion(s) of such Forward at the election of the Forward Counterparty. This Valuation Period determines the final settlement of the Forward Counterparty’s purchase price through a true-up payment from the Forward Counterparty to the Company if the total amount due under any such Forward exceeds the Prepayment (the “True-Up Payment”). The Forward Counterparty will make the True-Up Payment to the Company on a Component-by-Component basis. Each such payment in respect of each Component is equal to a modified forward price (the “Modified Forward Price”) multiplied by the specified number of shares for such Component. The Modified Forward Price is determined as follows: (i) If the Settlement Price (defined as the arithmetic average volume weighted average price over the Valuation Period) is less than or equal to the Forward Floor Price, zero; (ii) If the Settlement Price is greater than the Forward Floor Price but less than or equal to the Forward Cap Price, such Settlement Price minus the Forward Floor Price; and (iii) If the Settlement Price is greater than the Forward Cap Price, the Forward Cap Price minus the Forward Floor Price. The Company may elect to receive the True-Up Payment in cash or shares of Common Stock. Additionally, the Forward Counterparty is required to pay the Company any remaining Prepayment amount on the Final Settlement Date. Pursuant to the agreements described above, the Company entered into Forwards to sell 30,000,000 shares of Common Stock in the aggregate with the respective Reference Prices in respect of each Component of such Forwards ranging from $4.01 to $4.71 per share of Common Stock. During the Initial Hedging Period of each Forward in December 2024, the Company was paid $0.01 per share for the par value of the shares totaling $0.3 million in the aggregate and in January 2025 was paid $108.7 million for the Prepayments in respect of the Forwards in the aggregate. See Note 16—Subsequent Events for further information. On or before July 1, 2025, the Company could potentially receive True-Up Payments of up to an additional $38.5 million in the aggregate in relation to the Forwards if the volume weighted average prices of Common Stock over the respective Valuation Period for each Forward are equal to or greater than the respective Forward Cap Prices. If, however, the volume weighted average prices of Common Stock over the respective Valuation Period for each Forward are equal to or less than the respective Forward Floor Prices, the Company will receive no additional True-Up Payment. The Company will continue to monitor the value of any potential True-Up Payments until the end of the Valuation Period for each Forward. The Company evaluated the Forwards under ASC 815—Derivatives and Hedging and concluded that the transactions consist of a subscription receivable accounted for under ASC 505-10-45-2 reflecting the Company’s right to receive the Prepayment and deliver shares to the Forward Counterparty. Accordingly, pursuant to Regulation S-X 5-02.29, the Company recorded the Prepayment as an increase to additional paid in capital with an equal and offsetting subscription receivable as a decrease to additional paid in capital. The subscription receivable is considered a debt-like host and the Company’s right to receive additional cash consideration up to the Forward Cap Price based on the movement of the share price during the Valuation Period is an embedded feature that meets the definition of a derivative. Because the True-Up Payment can be received in cash or shares of Common Stock at the Company’s election and the value mechanics within the instrument are all indexed to the Company’s own Common Stock, the embedded feature meets the equity classification scope exception in ASC 815-40 and is not accounted for outside of equity. As the proceeds from the Forwards are received, the subscription receivable will be reduced which will result in an increase in total additional paid in capital. During January 2025, the Company recorded an increase to additional paid in capital of $108.7 million resulting from the receipt of the Prepayment described above. During the years ended December 31, 2024, December 31, 2023 and December 31, 2022, the Company entered into various equity distribution agreements with sales agents to sell shares of the Company’s Common Stock and AMC Preferred Equity Units, from time to time, through “at-the-market” offering programs. Subject to the terms and conditions of the equity distribution agreements, the sales agents used reasonable efforts consistent with their normal trading and sales practices, applicable law and regulations, and the rules of the NYSE to sell the Common Stock and AMC Preferred Equity Units from time to time based upon the Company’s instructions for the sales, including any price, time or size limits specified by the Company. The below table summarizes the activity of the various “at-the-market” offerings for the years ending December 31, 2024, December 31, 2023 and December 31, 2022. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Common Stock ​ ​ AMC Preferred Equity Units ​ ​ ​ December 31, ​ ​ December 31, (In millions) ​ ​ 2024 2023 2022 ​ ​ 2024 2023 2022 Shares or units issued ​ ​ 75.5 88.0 - ​ ​ - 7.1 20.8 Gross proceeds ​ $ 261.8 675.5 - ​ $ - 114.5 228.8 Sales agent fees paid ​ ​ 6.4 16.9 - ​ ​ - 2.9 5.7 Other third-party issuance costs incurred ​ ​ 1.9 1.1 - ​ ​ - 8.8 5.5 Other third-party issuance costs paid ​ ​ 0.8 0.9 - ​ ​ - 11.7 2.7 ​ The Company has used and intends to use the net proceeds from the sale of Common Stock and AMC Preferred Equity Units pursuant to the equity distribution agreements to repay, refinance, redeem or repurchase the Company’s existing indebtedness (including expenses, accrued interest and premium, if any), capital expenditures and otherwise for general corporate purposes. Antara Transactions On December 22, 2022, the Company entered into the Forward Purchase Agreement with Antara pursuant to which the Company agreed to (i) sell Antara 10,659,511 AMC Preferred Equity Units for an aggregate purchase price of $75.1 million and (ii) simultaneously purchase from Antara $100.0 million aggregate principal amount of the Company's 10%/12% Cash/PIK Toggle Second Lien Notes due 2026 in exchange for 9,102,619 AMC Preferred Equity Units. On February 7, 2023, the Company issued 19,762,130 AMC Preferred Equity Units to Antara in exchange for $75.1 million in cash and $100.0 million aggregate principal amount of the Company’s 10%/12% Cash/PIK Toggle Second Lien Notes due 2026. The Company recorded $193.7 million to stockholders’ deficit as a result of the transaction. The Company paid $1.4 million of accrued interest in cash upon exchange of the notes. Immediately prior to entry into the Forward Purchase Agreement, Antara purchased 6,000,000 AMC Preferred Equity Units (the “Initial AMC Preferred Equity Units”) under the Company’s at-the-market program for $34.9 million. The Forward Purchase Agreement and Initial AMC Preferred Equity Units were determined to be equity and the related $34.9 million is recorded into Additional Paid-in Capital at December 31, 2022. Stock-Based Compensation ​ Equity Incentive Plans ​ On June 5, 2024, the Company’s shareholders approved a new equity incentive plan (“2024 EIP”). The 2024 EIP has 25.0 million shares of Common Stock available for awards under the plan. Awards that may be granted under the 2024 EIP include options, stock appreciation rights, restricted stock awards, restricted stock units, cash awards, and other equity-based awards. The 2024 EIP will be unlimited in duration and, in the event of termination, will remain in effect as long as any shares of awards under it are outstanding and not fully vested. The 2013 equity incentive plan, as amended (“2013 EIP”), provided for grants of non-qualified stock options, incentive stock options, stock appreciation rights, restricted stock awards, restricted stock units (“RSUs”), performance stock units (“PSUs”), stock awards, and cash performance awards. The 2013 EIP expired on December 17, 2023 and was replaced by the 2024 EIP. Awards granted under the 2013 EIP will continue to vest over their remaining requisite service periods, the latest of which ends in January 2026. The following table presents the stock-based compensation expense recorded within general and administrative: other: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended ​ ​ December 31, ​ December 31, ​ December 31, (In millions) ​ 2024 ​ 2023 ​ 2022 Equity classified awards: ​ ​ ​ ​ ​ ​ ​ ​ ​ Special awards expense ​ $ 2.1 ​ $ 20.2 ​ $ — Board of director stock award expense ​ ​ 1.0 ​ ​ 0.9 ​ ​ 0.8 Restricted stock unit expense ​ ​ 12.3 ​ ​ 14.3 ​ ​ 13.3 Performance stock unit expense ​ ​ 6.5 ​ ​ 6.7 ​ ​ 8.4 Total equity classified awards: ​ ​ 21.9 ​ ​ 42.1 ​ ​ 22.5 Liability classified awards: ​ ​ ​ ​ ​ ​ ​ ​ ​ Restricted and performance stock unit expense ​ ​ 0.1 ​ ​ 0.4 ​ ​ — Total liability classified awards: ​ ​ 0.1 ​ ​ 0.4 ​ ​ — Total stock-based compensation expense ​ $ 22.0 ​ $ 42.5 ​ $ 22.5 ​ As of December 31, 2024, the estimated remaining unrecognized compensation cost related to stock-based compensation arrangements was approximately $12.0 million. The weighted average period over which this remaining compensation expense will be recognized is approximately 1.33 years. The Company accounts for forfeitures when they occur. Plan Amendment due to Stock Split The 2013 EIP contemplated equitable adjustments for certain transactions such as a stock split. On August 19, 2022, the Compensation Committee approved an adjustment to the 2013 EIP to entitle each participant one AMC Preferred Equity Unit and one share of Common Stock for each RSU or PSU for awards granted prior to the AMC Preferred Equity Unit special dividend. The Company determined that this modification was a Type 1 (probable-to-probable) modification that did not increase the fair value of the award and therefore did not require additional stock-based compensation expense to be recognized. Awards Granted ​ The Company’s Board of Directors approved awards of stock, RSUs, and PSUs to certain of the Company’s employees and directors under the Company’s equity incentive plans. Each RSU or PSU is convertible into one share of Common Stock upon vesting. The grant date fair value of the awards are based on the closing share price of the Company’s Common Stock on such grant date. Each RSU and PSU held by a participant as of a dividend record date is entitled to a dividend equivalent equal to the amount paid in respect to one share of Common Stock underlying the unit. Any such accrued dividend equivalents are paid to the holder only upon vesting of the units. The Company’s Board of Directors also granted awards to certain non-section 16 officers that are expected to be settled in cash. Upon vesting grantees will receive an amount of cash equal to the closing price of Common Stock multiplied by the number of underlying cash-based RSUs and PSUs awarded. These awards have been classified as liabilities and are include within accrued expenses and other liabilities in the consolidated balance sheets. The vesting requirements and vesting periods are identical to the equity classified awards described below. The Company recognizes expense related to these awards based on the fair value of the Common Stock shares, giving effect to the portion of services rendered during the requisite services period. As of December 31, 2024, there were 63,748 nonvested underlying Common Stock RSUs and PSUs (after giving effect to the actual 2024 PSU attainment levels) related to awards granted to certain non-section 16 officers. There are 49,171 nonvested underlying Common Stock RSUs and PSUs (2024 Tranche Year, after giving effect to the actual 2024 PSU attainment) that are currently classified as liabilities and 14,577 nonvested underlying Common Stock PSUs (2025 Tranche Year) which have not been granted for accounting purposes as the performance targets for the 2025 PSU Tranche Years have yet to be established. The awards granted under the Company’s equity incentive plans generally had the following features: ● Board of Director Stock Awards: The Company granted fully vested shares of Common Stock and AMC Preferred Equity Units to the independent members of its Board of Directors during the years ended December 31, 2024, Decembers 31, 2023, and December 31, 2022 as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended ​ ​ December 31, 2024 ​ December 31, 2023 ​ December 31, 2022 Common Stock ​ 202,392 ​ 8,560 ​ 4,165 AMC Preferred Equity Units ​ — ​ 15,376 ​ 4,165 ​ ● Restricted Stock Unit Awards: The Company granted RSU awards of 2,322,759 ; 354,015 ; and 139,427 RSU with grant date fair values of $12.0 million, $12.4 million, and $13.6 million to certain members of management during the years ended December 31, 2024, December 31, 2023, and December 31, 2022, respectively. The Company records stock-based compensation expense on a straight-line recognition method over the requisite vesting period. The RSUs granted during 2024, 2023, and 2022 vest over three years with 1/3 vesting in each year. These RSUs will be settled within 30 days of vesting. ● Performance Stock Unit Awards: 2024 PSU Awards. The Compensation Committee establishes the annual performance targets at the beginning of each year. Therefore, the grant date (and fair value measurement date) for each Tranche Year is the date at the beginning of each year when a mutual understanding of the key terms and conditions are reached per ASC 718, Compensation - Stock Compensation. The 2024 PSU award grant date fair value for the 2024 Tranche Year award of 774,202 units was approximately $4.0 million measured at 100% attainment of the performance targets. The 2023 PSU award grant date fair value for the 2024 Tranche Year of 105,357 units was approximately $0.5 million measured at 100% attainment of the performance targets. The 2022 PSU award grant date fair value for the 2024 Tranche Year of 44,081 units was approximately $0.2 million measured at 100% attainment of the performance targets. At December 31, 2024, the 2024 Tranche Year performance targets for both the annual Adjusted EBITDA and free cash flow were attained at 98% and 200%, respectively. 2023 PSU Awards. 2022 PSU Awards. to 120% of the performance targets are attained, with the corresponding vested unit amount ranging from 50% to 200% of the PSUs awarded. If the performance targets for each Tranche Year are attained at 100%, the 2022 PSU awards will vest at 139,427 units in the aggregate. No PSUs will vest for each Tranche Year if the Company does not achieve 80% of the Tranche Year’s Adjusted EBITDA and free cash flow targets. 2021 PSU Awards. 2020 PSU Awards: Special Awards On February 22, 2024, the compensation committee of AMC’s Board of Directors (“Compensation Committee”) approved modification of the performance goals applicable to all 2023 Tranche Year PSU awards. This was accounted for as a modification to the 2023 Tranche Year PSU awards which lowered the Adjusted EBITDA and free cash flow performance targets such that 200% vesting was achieved for both targets. This modification resulted in the immediate additional vesting of 478,055 2023 Tranche Year PSUs (21,829 cash settled units and 456,226 equity settled units). This was treated as a Type 3 modification (improbable-to-probable) which required the Company to recognize additional stock compensation expense based on the modification date fair values of the incremental PSUs. During the year ended December 31, 2024, the Company recognized $2.1 million of stock compensation expense related to these awards. On February 23, 2023, the Compensation Committee approved special awards in lieu of vesting of the 2022 Tranche Year PSU awards. The special awards were accounted for as modification to the 2022 Tranche Year PSU awards which lowered the Adjusted EBITDA and free cash flow performance targets such that 200% vesting was achieved for both tranches. This modification resulted in the immediate additional vesting of 238,959 Common Stock 2022 PSUs and 238,959 AMC Preferred Equity Unit PSUs. This was treated as a Type 3 modification (improbable-to-probable) which requires the Company to recognize additional stock compensation expense based on the modification date fair values of the Common Stock PSUs and AMC Preferred Equity Units PSUs of $14.9 million and $5.3 million, respectively. During the year ended December 31, 2023, the Company recognized $20.2 million of stock compensation expense related to these awards. ​ ​ The following table represents the nonvested RSU and PSU activity for the years ended December 31, 2024, December 31, 2023 and December 31, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ Average ​ ​ Common Stock ​ Grant Date ​ ​ RSUs and PSUs (3) ​ Fair Value Beginning balance at January 1, 2022 ​ 1,568,452 ​ $ 39.60 Granted ​ 167,679 ​ ​ 97.50 Vested ​ (563,634) ​ ​ 35.90 Forfeited ​ (71,688) ​ ​ 58.60 Cancelled ​ (474,659) ​ ​ 35.90 Nonvested at January 1, 2023 ​ 626,150 ​ ​ 59.10 Granted ​ 517,067 ​ ​ 36.73 Granted - Special Award ​ 477,918 ​ ​ 42.25 Vested ​ (222,920) ​ ​ 57.43 Vested - Special Award ​ (257,945) ​ ​ 42.18 Forfeited ​ (22,119) ​ ​ 45.32 Cancelled ​ (150,755) ​ ​ 60.14 Cancelled - Special Award ​ (219,973) ​ ​ 42.34 Nonvested at January 1, 2024 ​ 747,423 ​ ​ 44.35 Granted ​ 3,604,916 ​ ​ 5.11 Granted - Special Award ​ 456,226 ​ ​ 4.42 Vested ​ (246,982) ​ ​ 43.84 Vested - Special Award ​ (242,360) ​ ​ 4.42 Forfeited ​ (1,228) ​ ​ 36.26 Cancelled ​ (228,015) ​ ​ 43.86 Cancelled - Special Award ​ (213,866) ​ ​ 4.42 Nonvested at December 31, 2024 ​ 3,876,114 ​ ​ 7.92 Tranche Years 2025 and 2026 awarded under the 2024 PSU award and Tranche Year 2025 awarded under the 2023 PSU award with grant date fair values to be determined in year 2025 and 2026, respectively ​ 1,653,656 ​ ​ ​ Total Nonvested at December 31, 2024 ​ 5,529,770 ​ ​ ​ (1) Represents vested RSUs and PSUs surrendered in lieu of taxes and cancelled awards returned. (2) The number of PSU shares granted and forfeited under the Tranche Year 2023 is based on attainment of performance targets at 98% for the Adjusted EBITDA target and 200% for the free cash flow target. (3) Includes AMC Preferred Equity Unit RSUs and PSUs that were subsequently converted to Common Stock RSUs and PSUs as a result of the Charter Amendments.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2024
INCOME TAXES
INCOME TAXES	NOTE 10—INCOME TAXES Current income tax expense represents the amounts expected to be reported on the Company’s income tax returns, and deferred tax expense or benefit represents the change in net deferred tax assets and liabilities. Deferred tax assets and liabilities are determined based on the difference between the financial statement and tax bases of assets and liabilities as measured by the enacted tax rates that will be in effect when these differences reverse. Valuation allowances are recorded as appropriate to reduce deferred tax assets to the amount considered likely to be realized. 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. A significant piece of objective negative evidence evaluated was the cumulative loss incurred over the three-year period ended December 31, 2024 for each taxing jurisdiction. Such objective evidence limits the ability to consider other subjective evidence, such as the Company’s projections of future taxable income. For the year ended December 31, 2024, the Company remained in a cumulative loss over the past three-year period for the U.S. and international jurisdictions except for Finland. The Company maintains a valuation allowance against U.S. deferred tax assets as well as international jurisdictions in which it operates, with the exception of Finland. The actual effective rate for the year ended December 31, 2024 was (0.6)%. The Company’s consolidated tax rate for the year ended December 31, 2024 differs from the U.S. statutory tax rate primarily due to the valuation allowances in U.S. and foreign jurisdictions, foreign tax rate differences, and federal and state tax credits, partially offset by permanent differences related to interest, compensation, and other discrete items. At December 31, 2024 and December 31, 2023, the Company has recorded net deferred tax liabilities of $33.9 million and of $32.4 million, respectively. The income tax provision reflected in the consolidated statements of operations consists of the following components: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended ​ (In millions) December 31, 2024 December 31, 2023 December 31, 2022 Current: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Federal ​ $ — ​ $ — ​ $ — ​ Foreign ​ 2.4 ​ 1.9 ​ 0.9 ​ State ​ (1.8) ​ 0.8 ​ (0.1) ​ Total current ​ 0.6 ​ 2.7 ​ 0.8 ​ Deferred: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Federal ​ 0.5 ​ 0.4 ​ 0.3 ​ Foreign ​ (0.3) ​ (0.2) ​ 0.7 ​ State ​ 1.3 ​ 0.5 ​ 0.7 ​ Total deferred ​ 1.5 ​ 0.7 ​ 1.7 ​ Total provision ​ $ 2.1 ​ $ 3.4 ​ $ 2.5 ​ ​ Pre-tax losses consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended ​ (In millions) December 31, 2024 December 31, 2023 December 31, 2022 Domestic ​ $ (192.4) ​ $ (216.7) ​ $ (685.8) ​ Foreign ​ (158.1) ​ (176.5) ​ (285.3) ​ Total ​ $ (350.5) ​ $ (393.2) ​ $ (971.1) ​ ​ The difference between the effective tax rate on net loss from continuing operations before income taxes and the U.S. federal income tax statutory rate is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended ​ (In millions) December 31, 2024 December 31, 2023 December 31, 2022 Income tax benefit at the federal statutory rate ​ $ (73.6) ​ $ (82.5) ​ $ (203.9) ​ Effect of: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ State income taxes ​ (5.8) ​ (14.7) ​ (30.9) ​ Increase in reserve for uncertain tax positions ​ — ​ (0.2) ​ — ​ Federal and state credits ​ (1.5) ​ (1.3) ​ (2.5) ​ Permanent items — other ​ ​ 4.6 ​ ​ (17.6) ​ ​ 5.2 ​ Foreign rate differential ​ ​ (6.4) ​ ​ (3.6) ​ ​ (11.0) ​ Original issue discount ​ ​ — ​ ​ — ​ ​ (152.5) ​ Other ​ 0.3 ​ 1.2 ​ (14.2) ​ Valuation allowance ​ 84.5 ​ 122.1 ​ 412.3 ​ Income tax provision ​ $ 2.1 ​ $ 3.4 ​ $ 2.5 ​ Effective income tax rate ​ (0.6) % (0.9) % (0.3) % ​ The significant components of deferred income tax assets and liabilities as of December 31, 2024 and December 31, 2023 are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2024 ​ December 31, 2023 ​ ​ Deferred Income Tax ​ Deferred Income Tax (In millions) Assets Liabilities Assets Liabilities Tangible assets $ — $ (60.8) $ — $ (83.4) Right-of-use assets ​ ​ — ​ ​ (831.5) ​ ​ — ​ ​ (914.3) Accrued liabilities ​ 11.2 ​ — ​ 13.8 ​ — Intangible assets ​ — ​ (128.0) ​ — ​ (119.4) Receivables ​ 12.1 ​ — ​ 9.5 ​ — Investments ​ 44.4 ​ — ​ 48.0 ​ — Capital loss carryforwards ​ 4.6 ​ — ​ 5.4 ​ — Pension and deferred compensation ​ 15.5 ​ — ​ 22.7 ​ — Corporate borrowings ​ — ​ (52.8) ​ 41.9 ​ — Disallowed interest ​ ​ 663.2 ​ ​ — ​ ​ 515.0 ​ ​ — Deferred revenue ​ 163.2 ​ — ​ 163.4 ​ — Lease liabilities ​ 1,077.5 ​ — ​ 1,169.8 ​ — Finance lease obligations ​ — ​ — ​ 0.2 ​ — Other credit carryovers ​ 31.1 ​ — ​ 28.3 ​ — Net operating loss carryforwards ​ 727.9 ​ — ​ 708.0 ​ — Total ​ $ 2,750.7 ​ $ (1,073.1) ​ $ 2,726.0 ​ $ (1,117.1) Less: Valuation allowance ​ (1,711.5) ​ — ​ (1,641.3) ​ — Net deferred income taxes ​ $ 1,039.2 ​ $ (1,073.1) ​ $ 1,084.7 ​ $ (1,117.1) ​ ​ ​ A rollforward of the Company’s valuation allowance for deferred tax assets is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Additions ​ Charged ​ ​ ​ ​ ​ Balance at ​ Charged ​ (Credited) ​ ​ ​ ​ Beginning of ​ to ​ to Other ​ Balance at (In millions) Period Expenses(1) Accounts(2) End of Period Calendar Year 2024 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Valuation allowance-deferred income tax assets ​ $ 1,641.3 ​ 84.5 ​ (14.3) ​ $ 1,711.5 Calendar Year 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Valuation allowance-deferred income tax assets ​ $ 1,513.0 ​ 122.1 ​ 6.2 ​ $ 1,641.3 Calendar Year 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Valuation allowance-deferred income tax assets ​ $ 1,114.1 ​ 412.3 ​ (13.4) ​ $ 1,513.0 (1) Primarily relates to the Company’s increase in the current year’s federal, state, and international net operating losses. (2) Primarily relates to amounts resulting from the Company’s changes in deferred tax assets and associated valuation allowance that are not related to income statement activity, as well as amounts charged to other comprehensive income. The Company has federal income tax net operating loss carryforwards of $1,742.0 million. Approximately $320.3 million will expire between 2025 and 2036 and will be limited annually due to certain change in ownership provisions of the Internal Revenue Code. Approximately $1,421.7 million can be used indefinitely. The Company’s foreign net operating losses of $945.4 million can be used indefinitely. The Company also has state income tax loss carryforwards of $2,688.1 million. Approximately $1,935.2 million may be used over various periods ranging from 1 to 20 years. Approximately $752.9 million can be used indefinitely. A reconciliation of the change in the amount of unrecognized tax benefits was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended (In millions) December 31, 2024 December 31, 2023 December 31, 2022 Balance at beginning of period ​ $ 5.5 ​ $ 7.4 ​ $ 8.3 Gross decreases—expiration of statute of limitations ​ ​ — ​ ​ (1.9) ​ ​ (0.9) Balance at end of period ​ $ 5.5 ​ $ 5.5 ​ $ 7.4 ​ There are currently $0.1 million of unrecognized tax benefits which the Company anticipates will be resolved in the next twelve months. The Company, or one of its subsidiaries, files income tax returns in the U.S. federal jurisdiction, and various state and foreign jurisdictions. Generally, tax years beginning after December 31, 2004 are still open to examination by various taxing authorities. Additionally, as discussed above, the Company has net operating loss (“NOL”) carryforwards for tax years ended December 31, 2005 through December 31, 2024, in the U.S. and various state jurisdictions which have carryforwards of varying lengths of time. These NOLs are subject to adjustment based on the statute of limitations applicable to the return in which they are utilized, not the year in which they are generated. Various state, local and foreign income tax returns are also under examination by taxing authorities. The Company does not believe that the outcome of any examination will have a material impact on its consolidated financial statements. Utilization of the Company’s net operating loss carryforwards, disallowed business interest carryforward and other tax attributes became subject to the Section 382 ownership change limitation due to changes in our stock ownership on January 29, 2021. Management believes the Company’s ability to utilize these tax attributes has not been significantly limited by this event.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2024
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. An unfavorable outcome could also have a material adverse effect on the Company’s financial position or the market prices of the Company’s securities, including the Company’s Common Stock. ​ On April 22, 2019, a putative stockholder class and derivative complaint, captioned Lao v. Dalian Wanda Group Co., Ltd. On February 20, 2023, two putative stockholder class actions were filed in the Delaware Court of Chancery, captioned Allegheny County Employees’ Retirement System v. AMC Entertainment Holdings, Inc., et al. Munoz v. Adam M. Aron, et al. In re AMC Entertainment Holdings, Inc. Stockholder Litigation Del. C one Del. C Del. C. On February 27, 2023, the Delaware Court of Chancery entered a status quo order that allowed the March 14, 2023 vote on the Charter Amendments to proceed, but precluded the Company from implementing the Charter Amendments pending a ruling by the court on the plaintiffs’ then-anticipated preliminary injunction motion (the “Status Quo Order”). On April 2, 2023, the parties entered into a binding settlement term sheet to settle the Shareholder Litigation, which among other things, provided that the parties would jointly request that the Status Quo Order be lifted. Pursuant to the term sheet, the Company agreed, following and subject to AMC’s completion of the Conversion and Reverse Stock Split, to make a non-cash settlement payment to record holders of Common Stock immediately prior to the Conversion (and after giving effect to the Reverse Stock Split) of one ​ On April 27, 2023, the parties jointly filed a Stipulation and Agreement of Compromise, Settlement, and Release (the “Settlement Stipulation”) with the court, which fully memorialized the settlement that the parties agreed to in the term sheet. On June 29–30, 2023, the court held a settlement hearing to consider whether to approve the settlement as outlined in the Settlement Stipulation. On July 21, 2023, the court issued an opinion which, citing issues with the scope of the release sought under the proposed settlement, declined to approve the settlement as presented. On July 22, 2023, the parties filed an addendum to the Settlement Stipulation in an effort to address the issues with the scope of the release raised by the court and requested that the court approve the settlement with the revised release set forth in the addendum. On August 11, 2023, the court approved the settlement of the Shareholder Litigation and lifted the Status Quo Order. On August 14, 2023, the Company filed the amendment to its Third Amended and Restated Certificate of Incorporation, effective as of August 24, 2023, which was previously approved by the Company’s stockholders at the special meeting held on March 14, 2023 to implement the Charter Amendments. The Reverse Stock Split occurred on August 24, 2023, the conversion of AMC Preferred Equity Units into Common Stock occurred on August 25, 2023, and the Settlement Payment was made on August 28, 2023. On September 15, 2023, the court entered an order dismissing the Shareholder Litigation in its entirety and with prejudice. On October 13, 2023, a purported Company stockholder who objected to the settlement of the Shareholder Litigation filed a notice of appeal of the court’s decision approving the settlement. On May 22, 2024, the Delaware Supreme Court affirmed the court’s decision approving the settlement of the Shareholder Litigation. On August 20, 2024, the purported stockholder who appealed to the Delaware Supreme Court filed a petition for a writ of certiorari with the United States Supreme Court, which was denied on October 7, 2024. In connection with the Settlement Payment, the Company recorded a $110.1 million charge to other expense during the year ended December 31, 2023. The charge was based on the fair value of the Settlement Payment of $99.3 million and legal fees, net of probable insurance recoveries of $10.8 million. The Company made the Settlement Payment on August 28, 2023, and recorded the disbursement to stockholders’ deficit. On August 14, 2023, a putative class action on behalf of holders of AMC Preferred Equity Units, captioned Simons v. AMC Entertainment Holdings, Inc. On May 4, 2023, the Company filed a lawsuit in the Superior Court of the State of Delaware against seventeen insurers participating in its directors & officers insurance program, seeking recovery for losses incurred in connection with its defense and settlement of the Shareholder Litigation, including the Settlement Payment. The insurance recovery action is captioned, AMC Entertainment Holdings, Inc. v. XL Specialty Insurance Co., et al The primary insurer in the Coverage Action has paid its full $5.0 million limit. The Company has reached confidential settlement agreements with multiple insurers in the Coverage Action. The remainder of the insurers contest whether they owe coverage for the Settlement Payment, claiming it does not constitute a “Loss” under their insurance policies. AMC may have claims for coverage from additional insurers as well, however, those insurers’ policies contain mandatory arbitration provisions, so they have not been included in the Coverage Action. ​ On October 6, 2023, an action captioned Mathew, et al. v. Citigroup Global Markets, et al. On December 18, 2023, an action captioned Miller, et al. v. AMC Entertainment Holdings, Inc. et al. Del. C On May 2, 2024, the United States District Court for the Southern District of New York issued an order granting final approval of a proposed settlement reached by all parties to an action brought by plaintiffs Dennis J. Donoghue and Mark Rubenstein, each of whom are shareholders of the Company, for the Company to recover “short-swing” profits under Section 16(b) of the Securities Exchange Act of 1934 (the “Exchange Act”) alleged to have been realized by defendants Antara Capital Master Fund LP, Antara Capital Fund GP LLC, Antara Capital LP, Antara Capital GP LLC, and Himanshu Gulati (collectively, the “Antara Defendants”) in connection with their purchases and sales of the Company’s securities. The Company is party to the suit in name only, which was brought for the benefit of the Company. The Company received $2.6 million in connection with this action during the year ended December 31, 2024. On September 17, 2024, an action captioned A Holdings – B LLC, et al. v. GLAS Trust Company LLC ​ ​

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	12 Months Ended
	Dec. 31, 2024
FAIR VALUE MEASUREMENTS
FAIR VALUE MEASUREMENTS	NOTE 12—FAIR VALUE MEASUREMENTS ​ Fair value refers to the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants in the market in which the entity transacts business. The inputs used to develop these fair value measurements are established in a hierarchy, which ranks the quality and reliability of the information used to determine the fair values. The fair value classification is based on levels of inputs. Assets and liabilities that are carried at fair value are classified and disclosed in one of the following categories: ​ Level 1: Quoted market prices in active markets for identical assets or liabilities. Level 2: Observable inputs that are corroborated by market data. Level 3: Unobservable inputs that are not corroborated by market data. ​ Recurring Fair Value Measurements. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurements at December 31, 2024 Using ​ ​ ​ ​ ​ ​ ​ ​ Significant ​ Total Carrying Quoted prices in Significant other unobservable ​ ​ Value at ​ active market ​ observable inputs ​ inputs (In millions) ​ December 31, 2024 ​ (Level 1) ​ (Level 2) ​ (Level 3) Other long-term assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Investment in Hycroft warrants ​ $ 0.8 ​ $ — ​ $ — ​ $ 0.8 Marketable equity securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Investment in Hycroft ​ ​ 5.3 ​ ​ 5.3 ​ ​ — ​ ​ — Total assets at fair value ​ $ 6.1 ​ $ 5.3 ​ $ — ​ $ 0.8 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Corporate Borrowings: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivative liability ​ $ 157.6 ​ $ — ​ $ — ​ $ 157.6 Total liabilities at fair value ​ $ 157.6 ​ $ — ​ $ — ​ $ 157.6 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurements at December 31, 2023 Using ​ ​ ​ ​ ​ ​ ​ ​ Significant ​ Total Carrying Quoted prices in Significant other unobservable ​ ​ Value at ​ active market ​ observable inputs ​ inputs (In millions) ​ December 31, 2023 ​ (Level 1) ​ (Level 2) ​ (Level 3) Other long-term assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Investment in Hycroft warrants ​ $ 3.3 ​ $ — ​ $ — ​ $ 3.3 Marketable equity securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Investment in Hycroft ​ ​ 5.8 ​ ​ 5.8 ​ ​ — ​ ​ — Total assets at fair value ​ $ 9.1 ​ $ 5.8 ​ $ — ​ $ 3.3 Derivative liability valuation. ​ Nonrecurring Fair Value Measurements. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurements at December 31, 2024 Using ​ ​ ​ ​ ​ ​ Significant other Significant ​ ​ Total Carrying ​ Quoted prices in ​ observable ​ unobservable ​ Total ​ ​ Value at ​ active market ​ inputs ​ inputs ​ Impairment (In millions) December 31, 2024 (Level 1) (Level 2) (Level 3) Losses Property, net: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Property, net ​ $ 16.5 ​ $ — ​ $ — ​ $ 16.5 ​ $ 18.1 Operating lease right-of-use assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating lease right-of-use assets ​ ​ 45.6 ​ ​ — ​ ​ — ​ ​ 45.6 ​ ​ 54.2 Total ​ $ 62.1 ​ $ — ​ $ — ​ $ 62.1 ​ $ 72.3 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurements at December 31, 2023 Using ​ ​ ​ ​ ​ ​ Significant other Significant ​ ​ Total Carrying ​ Quoted prices in ​ observable ​ unobservable ​ Total ​ ​ Value at ​ active market ​ inputs ​ inputs ​ Impairment (In millions) December 31, 2023 (Level 1) (Level 2) (Level 3) Losses Property, net: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Property, net ​ $ 34.4 ​ $ — ​ $ — ​ $ 34.4 ​ $ 30.3 Operating lease right-of-use assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating lease right-of-use assets ​ ​ 93.5 ​ ​ — ​ ​ — ​ ​ 93.5 ​ ​ 76.6 Other long-term assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cost method investments (1) ​ ​ 10.3 ​ ​ — ​ ​ — ​ ​ 10.3 ​ ​ 1.0 Total ​ $ 138.2 ​ $ — ​ $ — ​ $ 138.2 ​ $ 107.9 (1) Impairment losses for cost method investments are recorded in investment expense (income). Valuation Techniques. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurements at July 22, 2024 Using ​ ​ ​ ​ ​ ​ Significant other Significant ​ ​ Total Carrying ​ Quoted prices in ​ observable ​ unobservable ​ ​ ​ ​ Value at ​ active market ​ inputs ​ inputs ​ Total (In millions) July 22, 2024 (Level 1) (Level 2) (Level 3) Losses Corporate Borrowings: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Exchangeable Notes ​ $ 293.6 ​ $ — ​ $ 293.6 ​ $ — ​ $ — ​ Valuation Technique ​ Other Fair Value Measurement Disclosures. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurements at December 31, 2024 Using ​ ​ ​ ​ Significant other Significant ​ ​ Total Carrying ​ Quoted prices in ​ observable ​ unobservable ​ ​ Value at ​ active market ​ inputs ​ inputs (In millions) ​ December 31, 2024 ​ (Level 1) ​ (Level 2) ​ (Level 3) Current maturities of corporate borrowings ​ $ 64.2 ​ $ — ​ $ 65.0 ​ $ — Corporate borrowings ​ 3,853.3 ​ — ​ 3,866.3 ​ ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurements at December 31, 2023 Using ​ ​ ​ ​ ​ Significant other Significant ​ ​ Total Carrying ​ Quoted prices in ​ observable ​ unobservable ​ ​ Value at ​ active market ​ inputs ​ inputs (In millions) ​ December 31, 2023 ​ (Level 1) ​ (Level 2) ​ (Level 3) Current maturities of corporate borrowings ​ $ 25.1 ​ $ — ​ $ 21.5 ​ $ — Corporate borrowings ​ 4,552.3 ​ — ​ 3,674.7 ​ — ​ Valuation Technique. — 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.

SEGMENT REPORTING

SEGMENT REPORTING	12 Months Ended
	Dec. 31, 2024
SEGMENT REPORTING
SEGMENT REPORTING	NOTE 13—SEGMENT REPORTING The Company reports information about operating segments in accordance with ASC 280-10, Segment Reporting, which requires financial information to be reported based on the way management organizes segments within a company for making operating decisions and evaluating performance. Management has organized the Company around differences in geographic areas. The Company has identified two reportable segments and reporting units for its theatrical exhibition operations, U.S. markets and International markets. The International markets reportable segment has operations in or partial interest in theatres in the United Kingdom, Germany, Spain, Italy, Ireland, Portugal, Sweden, Finland, Norway, and Denmark. On January 24, 2023, the Company sold its interest in Saudi Arabia, see Note 6 — Each segment’s revenue is derived from admissions, food and beverage sales and other ancillary revenues, primarily screen advertising, loyalty membership fees, ticket sales, gift card income and exchange ticket income. The measure of segment profit and loss the Company’s chief operating decision maker (“CODM”) uses to evaluate performance and allocate its resources is Adjusted EBITDA, as defined in the reconciliation table below. During the year ended December 31, 2024, the Company changed the definition of Adjusted EBITDA to no longer further adjust for “cash distributions from non-consolidated entities” and “other non-cash rent benefit.” All comparative period information for Adjusted EBITDA has been re-cast to conform with the current definition. The Company’s CODM is the chief executive officer. The Company does not report asset information by segment because that information is not used to evaluate the performance of or allocate resources between segments. The CODM assess segment performance quarterly by comparing segment annual Adjusted EBITDA against budgeted and/or forecasted Adjusted EBITDA. The CODM uses Adjusted EBITDA for each segment to determine how to allocate resources for future capital expenditures and for general corporate purposes. 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. ​ The following tables below provide reconciliation of segment revenues to Adjusted EBITDA: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended ​ ​ December 31, 2024 (In millions) ​ U.S. Markets ​ International Markets ​ Consolidated Revenues (1) ​ $ 3,544.2 ​ $ 1,093.0 ​ $ 4,637.2 Less: ​ ​ ​ ​ ​ ​ ​ ​ ​ Film exhibition costs ​ ​ 988.8 ​ ​ 250.4 ​ ​ 1,239.2 Food and beverage costs ​ 225.7 ​ 79.9 ​ 305.6 Operating expense, excluding depreciation and amortization (2) ​ 1,249.0 425.0 ​ 1,674.0 Rent ​ 649.9 ​ ​ 223.7 ​ 873.6 General and administrative expense - other, excluding depreciation and amortization (3) ​ ​ 130.6 ​ 74.2 ​ ​ 204.8 Other segment items (4) ​ (1.3) ​ ​ (2.6) ​ ​ (3.9) Adjusted EBITDA ​ $ 301.5 ​ $ 42.4 ​ $ 343.9 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended ​ ​ December 31, 2023 (In millions) ​ U.S. Markets ​ International Markets ​ Consolidated Revenues (1) ​ $ 3,688.7 ​ $ 1,123.9 ​ $ 4,812.6 Less: ​ ​ ​ ​ ​ ​ ​ ​ ​ Film exhibition costs ​ ​ 1,023.3 ​ ​ 267.8 ​ ​ 1,291.1 Food and beverage costs ​ 233.9 ​ 81.4 ​ 315.3 Operating expense, excluding depreciation and amortization (2) ​ 1,261.8 ​ 427.2 ​ 1,689.0 Rent ​ 651.5 ​ ​ 222.0 ​ ​ 873.5 General and administrative expense - other, excluding depreciation and amortization (3) ​ ​ 130.9 ​ 68.5 ​ ​ 199.4 Other segment items (4) ​ (3.8) ​ (6.2) ​ (10.0) Adjusted EBITDA ​ $ 391.1 ​ $ 63.2 ​ $ 454.3 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended ​ ​ December 31, 2022 (In millions) ​ U.S. Markets ​ International Markets ​ Consolidated Revenues (1) ​ $ 2,961.7 ​ $ 949.7 ​ $ 3,911.4 Less: ​ ​ ​ ​ ​ ​ ​ ​ ​ Film exhibition costs ​ ​ 831.4 ​ ​ 220.3 ​ ​ 1,051.7 Food and beverage costs ​ 165.1 ​ 63.5 ​ 228.6 Operating expense, excluding depreciation and amortization (2) ​ 1,101.9 ​ 418.5 ​ 1,520.4 Rent ​ 666.5 ​ ​ 219.7 ​ ​ 886.2 General and administrative expense - other, excluding depreciation and amortization (3) ​ ​ 122.1 ​ 62.9 ​ ​ 185.0 Other segment items (4) ​ (3.8) ​ (23.3) ​ (27.1) Adjusted EBITDA ​ $ 78.5 ​ $ (11.9) ​ $ 66.6 (1) All segment revenues are comprised of revenues from external customers. (2) Operating expense, excluding depreciation and amortization excludes certain operating expenses as further defined in the reconciliation of net loss to Adjusted EBITDA below. (3) General and administrative expense – other, excluding depreciation and amortization excludes stock compensation expense. (4) Other segment items include government assistance, business interruption insurance recoveries, net periodic pension cost (benefit), and attributable EBITDA from international theatre joint ventures. ​ Other segment disclosures: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended ​ ​ December 31, 2024 (In millions) ​ U.S. Markets ​ International Markets ​ Consolidated Depreciation and amortization ​ $ 247.5 ​ $ 72.0 ​ $ 319.5 Income tax provision (benefit) ​ ​ — ​ ​ 2.1 ​ ​ 2.1 Other income ​ ​ (113.7) ​ ​ (30.1) ​ ​ (143.8) Other significant noncash items: ​ ​ ​ ​ ​ ​ ​ ​ ​ Stock-based compensation expense ​ ​ 20.0 ​ ​ 2.0 ​ ​ 22.0 Impairment of long-lived assets ​ ​ 51.9 ​ ​ 20.4 ​ ​ 72.3 Equity in earnings of non-consolidated entities ​ ​ (10.7) ​ ​ (1.7) ​ ​ (12.4) Capital expenditures ​ ​ 171.4 ​ ​ 74.1 ​ ​ 245.5 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended ​ ​ December 31, 2023 (In millions) ​ U.S. Markets ​ International Markets ​ Consolidated Depreciation and amortization ​ $ 286.5 ​ $ 78.5 ​ $ 365.0 Income tax provision ​ ​ 1.8 ​ ​ 1.6 ​ ​ 3.4 Other income ​ ​ (47.3) ​ ​ (21.8) ​ ​ (69.1) Other significant noncash items: ​ ​ ​ ​ ​ ​ ​ ​ ​ Stock-based compensation expense ​ ​ 38.3 ​ ​ 4.2 ​ ​ 42.5 Impairment of long-lived assets ​ ​ 49.2 ​ ​ 57.7 ​ ​ 106.9 Equity in earnings of non-consolidated entities ​ ​ (5.5) ​ ​ (2.2) ​ ​ (7.7) Capital expenditures ​ ​ 167.0 ​ ​ 58.6 ​ ​ 225.6 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended ​ ​ December 31, 2022 (In millions) ​ U.S. Markets ​ International Markets ​ Consolidated Depreciation and amortization ​ $ 312.2 ​ $ 83.8 ​ $ 396.0 Income tax provision ​ ​ 0.9 ​ ​ 1.6 ​ ​ 2.5 Other expense ​ ​ 52.0 ​ ​ 1.6 ​ ​ 53.6 Other significant noncash items: ​ ​ ​ ​ ​ ​ ​ ​ ​ Stock-based compensation expense ​ ​ 20.3 ​ ​ 2.2 ​ ​ 22.5 Impairment of long-lived assets ​ ​ 73.4 ​ ​ 59.7 ​ ​ 133.1 Equity in (earnings) loss of non-consolidated entities ​ ​ (4.3) ​ ​ 5.9 ​ ​ 1.6 Capital expenditures ​ ​ 138.4 ​ ​ 63.6 ​ ​ 202.0 ​ The following table sets forth a reconciliation of net loss to Adjusted EBITDA: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended (In millions) ​ December 31, 2024 December 31, 2023 ​ December 31, 2022 Net loss ​ $ (352.6) ​ $ (396.6) ​ $ (973.6) Plus: ​ ​ ​ ​ ​ ​ ​ ​ ​ Income tax provision ​ 2.1 ​ 3.4 ​ ​ 2.5 Interest expense ​ 443.7 ​ 411.2 ​ ​ 378.7 Depreciation and amortization ​ 319.5 ​ 365.0 ​ ​ 396.0 Impairment of long-lived assets ​ 72.3 ​ 106.9 ​ ​ 133.1 Certain operating expense ​ 5.4 ​ 2.5 ​ ​ 8.0 Equity in (earnings) loss of non-consolidated entities ​ (12.4) ​ (7.7) ​ ​ 1.6 Attributable EBITDA ​ ​ 1.9 ​ ​ 2.2 ​ ​ 0.4 Investment expense (income) ​ (16.3) ​ (15.5) ​ ​ 14.9 Other expense (income) ​ (141.8) ​ (61.3) ​ ​ 80.4 Merger, acquisition and other costs ​ 0.1 ​ 1.7 ​ ​ 2.1 Stock-based compensation expense ​ 22.0 ​ 42.5 ​ ​ 22.5 Adjusted EBITDA ​ $ 343.9 ​ $ 454.3 ​ $ 66.6 (1) For information regarding the income tax provision (benefit), see Note 10 — Income Taxes. (2) During the year ended December 31, 2024, the Company recorded non-cash impairment charges related to its long-lived assets of $51.9 million on 39 theatres in the U.S. markets with 469 screens which were related to property, net and operating lease right-of-use assets, net and $20.4 million on 23 theatres in the International markets with 188 screens which were related to property, net and operating lease right-of-use assets, net. During the year ended December 31, 2023, the Company recorded non-cash impairment charges related to its long-lived assets of $49.2 million on 68 theatres in the U.S. markets with 738 screens which were related to property, net and operating lease right-of-use assets, net and $57.7 million on 57 theatres in the International markets with 488 screens which were related to property, net and operating lease right-of-use assets, net. During the year ended December 31, 2022, the Company recorded non-cash impairment charges related to its long-lived assets of $73.4 million on 68 theatres in the U.S. markets with 817 screens which were related to property, net and operating lease right-of-use assets, net and $59.7 million on 53 theatres in the International markets with 456 screens which were related to property, net and operating lease right-of-use assets, net. (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, 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 primarily consisted of equity in (earnings) from AC JV of $(10.0) million during the year ended December 31, 2024. Equity in (earnings) loss of non-consolidated entities primarily consisted of equity in (earnings) from AC JV of $(4.9) million during the year ended December 31, 2023. Equity in (earnings) loss of non-consolidated entities primarily consisted of equity in loss from Saudi Cinema Company LLC of $7.6 million, partially offset by equity in (earnings) from DCIP of $(3.4) million during the year ended December 31, 2022. (5) 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. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended (In millions) ​ December 31, 2024 December 31, 2023 ​ December 31, 2022 Equity in (earnings) loss of non-consolidated entities ​ $ (12.4) ​ $ (7.7) ​ $ 1.6 Less: ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity in (earnings) of non-consolidated entities excluding International theatre joint ventures ​ ​ (11.5) ​ ​ (6.6) ​ ​ (5.4) Equity in earnings (loss) of International theatre joint ventures ​ ​ 0.9 ​ ​ 1.1 ​ ​ (7.0) Income tax provision ​ ​ — ​ ​ 0.1 ​ ​ 0.1 Investment expense (income) ​ ​ (0.4) ​ ​ (0.6) ​ ​ 0.2 Interest expense ​ ​ 0.1 ​ ​ 0.2 ​ ​ 0.1 Impairment of long-lived assets ​ ​ — ​ ​ — ​ ​ 4.2 Depreciation and amortization ​ ​ 1.3 ​ ​ 1.4 ​ ​ 2.8 Attributable EBITDA ​ $ 1.9 ​ $ 2.2 ​ $ 0.4 ​ (6) Investment expense (income) during the year ended December 31, 2024 includes interest income of $(19.2) million, partially offset by a decline in the estimated fair value of the Company’s investment in common shares of Hycroft of $0.4 million and a decline in the estimated fair value of the Company’s investment in warrants to purchase common shares of Hycroft of $2.5 million. Investment expense (income) during the year ended December 31, 2023 included a $(15.5) million gain on sale of the Company’s investment in Saudi Cinema Company LLC and interest income of $(15.3) million, partially offset by a decline in estimated fair value of investment in common shares of Hycroft of $6.6 million, a decline in the estimated fair value of the Company’s investment in warrants to purchase common shares of Hycroft of $6.0 million, $1.8 million of expense for NCM Common Units and $1.0 million impairment of a cost method investment. Investment expense (income) during the year ended December 31, 2022 included a decline in estimated fair value of investment in common shares of Hycroft of $12.5 million partially offset by $(6.2) million of appreciation in estimated fair value of the Company’s investment in warrants to purchase common shares of Hycroft, a $13.5 million loss on sale of the Company’s investment in NCM common units offset by interest income of $(5.9) million. (7) Other expense (income) during the year ended December 31, 2024 primarily consists of a decrease in fair value of the derivative liability for the embedded conversion feature in the Exchangeable Notes of $(75.8) million, shareholder litigation recoveries of $(40.2) million, net gains on debt extinguishment of $(38.9) million, and a vendor dispute of $(36.2) million, partially offset by term loan modification third party fees of $42.3 million and foreign currency transaction losses of $7.0 million. Other expense (income) for the year ended December 31, 2023 primarily consisted of gains on debt extinguishment of $(142.8) million and foreign currency transaction gains of $(17.8) million, partially offset by a non-cash litigation charge of $99.3 million. Other expense (income) for the year ended December 31, 2022 primarily consisted of a loss on debt extinguishment of $92.8 million, partially offset by income related to the foreign currency transaction gains of $(12.3) million and contingent lease guarantees of $(0.2) million. (8) Merger, acquisition and other costs are excluded as they are non-operating in nature. (9) Non-cash or non-recurring expense included in general and administrative: other. ​ Financial information about geographic area is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended Revenues (In millions) ​ December 31, 2024 ​ December 31, 2023 ​ December 31, 2022 United States ​ $ 3,544.2 ​ $ 3,688.7 ​ $ 2,961.7 United Kingdom ​ ​ 408.8 ​ ​ 400.9 ​ ​ 379.3 Spain ​ ​ 143.3 ​ ​ 148.2 ​ ​ 114.6 Sweden ​ ​ 116.4 ​ ​ 124.9 ​ ​ 125.0 Italy ​ ​ 147.6 ​ ​ 151.9 ​ ​ 90.4 Germany ​ ​ 111.6 ​ ​ 125.8 ​ ​ 96.2 Finland ​ ​ 90.1 ​ ​ 97.9 ​ ​ 73.9 Ireland ​ ​ 32.5 ​ ​ 32.2 ​ ​ 27.3 Other foreign countries ​ ​ 42.7 ​ ​ 42.1 ​ ​ 43.0 Total revenues ​ $ 4,637.2 ​ $ 4,812.6 ​ $ 3,911.4 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of ​ As of Long-term assets, net (In millions) ​ December 31, 2024 ​ December 31, 2023 United States ​ $ 5,474.2 ​ $ 5,795.6 International ​ ​ 1,826.1 ​ ​ 2,010.5 Total long-term assets (1) ​ $ 7,300.3 ​ $ 7,806.1 (1) Long-term assets are comprised of property, operating lease right-of-use assets, intangible assets, goodwill, deferred tax assets, net and other long-term assets.

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE LOSS	12 Months Ended
	Dec. 31, 2024
ACCUMULATED OTHER COMPREHENSIVE LOSS
ACCUMULATED OTHER COMPREHENSIVE LOSS	NOTE 14—ACCUMULATED OTHER COMPREHENSIVE LOSS ​ The following table presents the change in accumulated other comprehensive loss by component: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign ​ ​ ​ ​ (In millions) Currency Pension Benefits Total Balance December 31, 2022 ​ $ (78.8) ​ $ 1.5 ​ $ (77.3) Other comprehensive income (loss) ​ ​ 1.1 ​ ​ (2.0) ​ ​ (0.9) Balance December 31, 2023 ​ $ (77.7) ​ $ (0.5) ​ $ (78.2) Other comprehensive income (loss) ​ ​ (55.6) ​ ​ 1.8 ​ ​ (53.8) Balance December 31, 2024 ​ $ (133.3) ​ $ 1.3 ​ $ (132.0) ​ The tax effects allocated to each component of other comprehensive income (loss) is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended ​ ​ December 31, 2024 ​ December 31, 2023 ​ December 31, 2022 ​ ​ Tax ​ ​ Tax ​ ​ Tax ​ ​ ​ Pre-Tax ​ (Expense) ​ Net-of-Tax ​ Pre-Tax ​ (Expense) ​ Net-of-Tax ​ Pre-Tax ​ (Expense) ​ Net-of-Tax (In millions) ​ Amount ​ Benefit ​ Amount ​ Amount ​ Benefit ​ Amount ​ Amount ​ Benefit ​ Amount Unrealized foreign currency translation adjustment ​ $ (55.5) ​ $ (0.1) ​ $ (55.6) ​ $ 0.5 ​ $ 0.6 ​ $ 1.1 ​ $ (59.8) ​ $ — ​ $ (59.8) Pension and other benefit adjustments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net gain (loss) arising during the period, net of tax ​ ​ 1.8 ​ ​ — ​ ​ 1.8 ​ ​ (2.0) ​ ​ — ​ ​ (2.0) ​ ​ 10.6 ​ ​ — ​ ​ 10.6 Other comprehensive income (loss) ​ $ (53.7) ​ $ (0.1) ​ $ (53.8) ​ $ (1.5) ​ $ 0.6 ​ $ (0.9) ​ $ (49.2) ​ $ — ​ $ (49.2) ​

LOSS PER SHARE

LOSS PER SHARE	12 Months Ended
	Dec. 31, 2024
LOSS PER SHARE
LOSS PER SHARE	NOTE 15—LOSS PER SHARE On August 24, 2023, the Company effectuated a reverse stock split at a ratio of one one Accordingly, all references made to share, per share, unit, per unit, or common share amounts in the accompanying financial statements and applicable disclosures for periods prior to August 24, 2023, have been retroactively adjusted to reflect the effect of the reverse stock split. References made to AMC Preferred Equity Units have been retroactively adjusted to reflect the effect of the reverse stock split on their equivalent Common Stock shares. Basic loss per share is computed by dividing net loss by the weighted-average number of common shares outstanding. Diluted loss per share includes the effects of unvested RSUs with a service condition only, unvested contingently issuable PSUs that have service and performance conditions, and shares issuable upon conversion of the Exchangeable Notes, if dilutive. Diluted earnings per share is computed using the treasury stock method for the RSUs and PSUs and the if-converted method for the Exchangeable Notes. The following table sets forth the computation of basic and diluted loss per common share: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended ​ Year Ended ​ Year Ended (In millions) December 31, 2024 December 31, 2023 December 31, 2022 Numerator: ​ ​ ​ ​ ​ ​ Net loss for basic and diluted loss per share ​ $ (352.6) ​ $ (396.6) ​ $ (973.6) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Denominator ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average shares for basic and diluted loss per common share ​ 332,920 ​ 167,644 ​ 104,769 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic and diluted loss per common share ​ $ (1.06) ​ $ (2.37) ​ $ (9.29) ​ Vested RSUs and PSUs have dividend rights identical to the Company’s Common Stock and are treated as outstanding shares for purposes of computing basic and diluted loss per share. For the year ended December 31, 2024, December 31, 2023, and December 31, 2022, unvested RSUs of 1,662,429; 272,469; and 252,336, respectively, were not included in the computation of diluted loss per share because they would be anti-dilutive. All Tranche Year PSUs which had been attained at December 31, 2024, December 31, 2023, and December 31, 2022 were included in basic loss per share for each respective period because the issuance of the related shares were contingent only upon the passage of time. Therefore, no granted Tranche Year PSUs at December 31, 2024, December 31, 2023, and December 31, 2022 could further dilute basic loss per share. The Company has excluded approximately 85.2 million shares issuable upon conversion of the Exchangeable Notes and related Exchange Adjustment Consideration from the computation of diluted loss per share for the year ended December 31, 2024 because they would be anti-dilutive.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2024
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS	NOTE 16— SUBSEQUENT EVENTS ​ Share Issuances. ​

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Pay vs Performance Disclosure
Net Income (Loss)	$ (352.6)	$ (396.6)	$ (973.6)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Dec. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Cybersecurity Risk Management a

Cybersecurity Risk Management and Strategy Disclosure	12 Months Ended
	Dec. 31, 2024
Cybersecurity Risk Management, Strategy, and Governance [Line Items]
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]	Risk Management and Strategy The Company recognizes the importance of developing, implementing, and maintaining cybersecurity measures to assess, identify, and manage material risks from cybersecurity (including cybersecurity threats associated with the use of third-party service providers), to safeguard our information systems, and to protect the confidentiality, integrity, and availability of the data on our information systems. Managing Material Risks & Integrated Overall Risk Management The Company has strategically integrated cybersecurity risk management into our broader risk management framework. Management has formed cross-functional risk and information security committees (the “Security Committees”) to initiate, develop, review and implement cybersecurity policies, procedures and training to mitigate cybersecurity risks. Our information technology (“IT”) cybersecurity leadership team works closely with our Security Committees and internal audit team to evaluate and address cybersecurity risks in alignment with our business objectives and operational needs. Using a risk-based prioritization approach, the IT cybersecurity leadership team and the Security Committees focus on securing our high value assets, updating our cybersecurity detection and prevention capabilities to identify new threats, and improving compliance processes to protect the Company’s operations and data. During this process, the following factors, among others, are considered: likelihood and severity of risk, impact on the Company and others if a risk materializes, feasibility and cost of controls, and impact of controls on operations. The Company has also implemented technical safeguards that are designed to protect our information systems from cybersecurity threats, including firewalls, intrusion prevention and detection systems, anti-malware functionality, access controls, and vulnerability and patch management. Risk Management Personnel The Company’s senior IT leadership, comprised of the Chief Information Officers of both AMC and Odeon, and IT cybersecurity teams have the primary responsibility for assessing, monitoring, and managing, our cybersecurity programs. The Company’s senior IT leadership bring over fifty years of combined IT experience to their roles. Each member of the Company’s IT cybersecurity leadership team, comprised of the AMC Director Cybersecurity, the Odeon Group Head of Cyber, Risk and Operations and the AMC SVP & Chief Information Officer, brings 20+ years of IT experience. The Company regularly invests in training on these teams, and key leadership positions hold CISSP certifications. Our senior IT leadership and IT cybersecurity team, with input as appropriate from the Security Committees, oversee our governance programs, tests our compliance with standards, remediate known risks, and direct employee training. Monitoring Cybersecurity Incidents The Security Committees are continually informed about the latest developments in cybersecurity, including potential threats and risk management techniques. The Security Committees, and in particular senior IT leadership, IT cybersecurity and internal audit members serving on the Security Committees, implement and oversee processes for the regular monitoring of our information systems. The Company follows the National Institute of Standards and Technology (“NIST”) framework to design and implement security processes, tools and procedures, and regular system audits identify and lead to prompt remediation of potential vulnerabilities. In the event of a cybersecurity incident, senior IT leadership and the Security Committees are equipped with a well-defined incident response plan. This plan includes immediate actions to mitigate the impact, internal and external communication plans, and notification requirements. Engagement of Consultants for Risk Management Services Recognizing the complexity and evolving nature of cybersecurity threats, the Company engages with a range of external experts to perform a variety of functions for the Company. These include, but are not limited to, cybermaturity audits, targeted ransomware assessment and table-top exercises, red and purple team attack simulations, internal penetration tests and other internal and external audits. These partnerships enable us to leverage specialized knowledge and insights into our cybersecurity strategies and processes. Overseeing Third-Party Risk Because we are aware of the risks associated with third-party service providers, the Company implements processes to oversee and manage these risks. The Company utilizes software products and services to monitor and protect the Company’s environment from possible third-party breaches impacting the Company’s environment. This approach is designed to mitigate risks related to data breaches or other security incidents originating from third-parties. Third-parties who have access to highly sensitive information due to services performed and data retained are subject to increased scrutiny. Risks from Cybersecurity Threats We have not experienced any cybersecurity incidents that we believe have materially affected, or are likely to materially affect, the Company.
Cybersecurity Risk Management Processes Integrated [Flag]	true
Cybersecurity Risk Management Processes Integrated [Text Block]	Managing Material Risks & Integrated Overall Risk Management The Company has strategically integrated cybersecurity risk management into our broader risk management framework. Management has formed cross-functional risk and information security committees (the “Security Committees”) to initiate, develop, review and implement cybersecurity policies, procedures and training to mitigate cybersecurity risks. Our information technology (“IT”) cybersecurity leadership team works closely with our Security Committees and internal audit team to evaluate and address cybersecurity risks in alignment with our business objectives and operational needs. Using a risk-based prioritization approach, the IT cybersecurity leadership team and the Security Committees focus on securing our high value assets, updating our cybersecurity detection and prevention capabilities to identify new threats, and improving compliance processes to protect the Company’s operations and data. During this process, the following factors, among others, are considered: likelihood and severity of risk, impact on the Company and others if a risk materializes, feasibility and cost of controls, and impact of controls on operations. The Company has also implemented technical safeguards that are designed to protect our information systems from cybersecurity threats, including firewalls, intrusion prevention and detection systems, anti-malware functionality, access controls, and vulnerability and patch management.
Cybersecurity Risk Management Third Party Engaged [Flag]	true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag]	true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag]	false
Cybersecurity Risk Board of Directors Oversight [Text Block]	Governance Board of Directors and Audit Committee Oversight Our board of directors (the “Board”) understands the critical nature of managing risks associated with cybersecurity threats. The Board has established robust oversight mechanisms to ensure effective governance in managing risks associated with cybersecurity threats. The audit committee of the Board (the “Audit Committee”) is central to the Board’s oversight of cybersecurity risks and bears the primary responsibility for overseeing these risks. Senior IT leadership regularly informs the Audit Committee, the Chief Financial Officer and other members of the Company’s senior leadership of cybersecurity risks and incidents. This ensures that the highest levels of management are kept abreast of the cybersecurity posture and potential risks facing the Company. Management’s Role Managing Risk Senior IT leadership play a pivotal role in managing cybersecurity risk and keeping the Audit Committee apprised of cybersecurity developments. Senior IT leadership provide comprehensive briefings to the Audit Committee on a periodic basis. These briefings encompass a broad range of topics, including: ● current cybersecurity landscape and emerging threats; ● status of ongoing cybersecurity initiatives and strategies; ● learnings from any cybersecurity events; and ● compliance with regulatory requirements and industry standards. In addition to our scheduled meetings, the Audit Committee and senior IT leadership maintain an ongoing dialogue regarding emerging or potential cybersecurity risks. The Company, at the direction of the Audit Committee, conducts periodic reviews of the Company’s cybersecurity posture and the effectiveness of its risk management strategies. These reviews help in identifying areas for improvement and ensuring the alignment of cybersecurity efforts with the overall risk management framework.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]	Audit Committee
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]	Board of Directors and Audit Committee Oversight Our board of directors (the “Board”) understands the critical nature of managing risks associated with cybersecurity threats. The Board has established robust oversight mechanisms to ensure effective governance in managing risks associated with cybersecurity threats. The audit committee of the Board (the “Audit Committee”) is central to the Board’s oversight of cybersecurity risks and bears the primary responsibility for overseeing these risks. Senior IT leadership regularly informs the Audit Committee, the Chief Financial Officer and other members of the Company’s senior leadership of cybersecurity risks and incidents. This ensures that the highest levels of management are kept abreast of the cybersecurity posture and potential risks facing the Company.
Cybersecurity Risk Role of Management [Text Block]	Management’s Role Managing Risk Senior IT leadership play a pivotal role in managing cybersecurity risk and keeping the Audit Committee apprised of cybersecurity developments. Senior IT leadership provide comprehensive briefings to the Audit Committee on a periodic basis. These briefings encompass a broad range of topics, including: ● current cybersecurity landscape and emerging threats; ● status of ongoing cybersecurity initiatives and strategies; ● learnings from any cybersecurity events; and ● compliance with regulatory requirements and industry standards. In addition to our scheduled meetings, the Audit Committee and senior IT leadership maintain an ongoing dialogue regarding emerging or potential cybersecurity risks. The Company, at the direction of the Audit Committee, conducts periodic reviews of the Company’s cybersecurity posture and the effectiveness of its risk management strategies. These reviews help in identifying areas for improvement and ensuring the alignment of cybersecurity efforts with the overall risk management framework.
Cybersecurity Risk Management Positions or Committees Responsible [Flag]	true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]	Senior IT leadership
Cybersecurity Risk Management Expertise of Management Responsible [Text Block]	Senior IT leadership play a pivotal role in managing cybersecurity risk and keeping the Audit Committee apprised of cybersecurity developments. Senior IT leadership provide comprehensive briefings to the Audit Committee on a periodic basis. These briefings encompass a broad range of topics, including: ● current cybersecurity landscape and emerging threats; ● status of ongoing cybersecurity initiatives and strategies; ● learnings from any cybersecurity events; and ● compliance with regulatory requirements and industry standards.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]	● current cybersecurity landscape and emerging threats; ● status of ongoing cybersecurity initiatives and strategies; ● learnings from any cybersecurity events; and ● compliance with regulatory requirements and industry standards.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag]	true

THE COMPANY AND SIGNIFICANT A_2

THE COMPANY AND SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2024
THE COMPANY AND SIGNIFICANT ACCOUNTING POLICIES
Reverse Stock Split	Stock Split and Reverse Stock Split. On August 24, 2023, the Company effectuated a reverse stock split at a ratio of one share of Common Stock for every ten shares of Common Stock. As a result of the reverse stock split, each share of Series A Convertible Participating Preferred Stock became convertible into ten shares of Common Stock, and by extension each AMC Preferred Equity Unit became equivalent to one-tenth (1/10th) of a share of Common Stock. The reverse stock split did not impact the number of AMC Preferred Equity Units outstanding. The Company concluded that this change in conversion ratio is analogous to a reverse stock split of the AMC Preferred Equity Units even though the reverse stock split did not have an effect on the number of AMC Preferred Equity Units outstanding. Accordingly, all references made to share, per share, unit, per unit, or common share amounts in the accompanying consolidated financial statements and applicable disclosures have been retroactively adjusted to reflect both the effects of the special dividend as a stock split and the subsequent reverse stock split. References made to AMC Preferred Equity Units have been retroactively adjusted to reflect the effect of the reverse stock split on their equivalent Common Stock shares.
Liquidity	Liquidity. There can be no assurance that the revenues, attendance levels, and other assumptions used to estimate the Company’s liquidity requirements and future cash burn rates will be correct, and the ability to be predictive is uncertain due to limited ability to predict studio film release dates, the overall production and theatrical release levels, and success of individual titles. Further, there can be no assurances that the Company will be successful in generating the additional liquidity necessary to meet the Company’s obligations beyond twelve months from the issuance of these financial statements on terms acceptable to the Company or at all. The Company expects, from time to time, to continue to seek to retire or purchase its outstanding debt through cash purchases and/or exchanges for equity or debt, in open-market purchases, privately negotiated transactions or otherwise. Such repurchases or exchanges, if any, will be upon such terms and at such prices as it may determine, and will depend on prevailing market conditions, its liquidity requirements, contractual restrictions and other factors. The amounts involved may be material and to the extent equity is used, dilutive. See Note 8—Corporate Borrowings and Finance Lease Liabilities for a summary of debt transactions that occurred during the years ended December 31, 2024, December 31, 2023, and December 31, 2022. Additionally, the Company has bolstered its liquidity through sales of its Common Stock, see Note 9—Stockholders’ Deficit and Note 16—Subsequent Events for further information on these sales. As of April 19, 2024, and in anticipation of the maturity of the Senior Secured Revolving Credit Facility, the Company voluntarily terminated the commitments under the Senior Secured Revolving Credit Facility in full and paid off any remaining obligations with respect to the Senior Secured Revolving Credit Facility. The financial covenants and related covenant suspension conditions are no longer in effect pursuant to the terms of the Credit Agreement dated as of April 30, 2013 (as amended, restated, amended and restated, supplemented or otherwise modified). The Company currently does not expect to replace the Senior Secured Revolving Credit Facility. The Company has entered into a new letter of credit facility in order to continue to provide letters of credit in the ordinary course of business following the termination of the Senior Secured Revolving Credit Facility.
Use of Estimates	Use of Estimates. The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Principles of Consolidation	Principles of Consolidation. The consolidated financial statements include the accounts of Holdings and all subsidiaries, as discussed above. All significant intercompany balances and transactions have been eliminated in consolidation. The Company manages its business under
Revenues	Revenues. The Company recognizes revenue, net of sales tax, when it satisfies a performance obligation by transferring control over a product or service to a customer. Admissions and food and beverage revenues are recorded at a point in time when a film is exhibited to a customer and when a customer takes possession of food and beverage offerings. The Company defers The Company recognizes income from non-redeemed or partially redeemed gift cards in proportion to the pattern of rights exercised by the customer (“proportional method”) where it applies an estimated non-redemption rate for its gift card sales channels, which range from 13% to 19% of the current month sales of gift cards, and the Company recognizes in other theatre revenues the total amount of expected income for non-redemption for that current month’s sales as income over the next 24 months in proportion to the pattern of actual redemptions. The Company has determined its non-redeemed rates and redemption patterns using more than 10 years of accumulated data. The Company also recognizes income from non-redeemed or partially redeemed exchange tickets using the proportional method. In the International markets, certain exchange tickets are subject to expiration dates, which triggers recognition of non-redemption in other revenues. The Company recognizes ticket fee revenues based on a gross transaction price. The Company is a principal (as opposed to agent) in the arrangement with third-party internet ticketing companies in regard to the sale of online tickets because the Company controls the online tickets before they are transferred to the customer. The online ticket fee revenues and the third-party commission or service fees are recorded in the line items other theatre revenues and operating expense, respectively, in the consolidated statements of operations.
Film Exhibition Costs	Film Exhibition Costs. Film exhibition costs are accrued based on the applicable box office receipts and estimates of the final settlement to the film licensors. Film exhibition costs include certain advertising costs. As of December 31, 2024 and December 31, 2023, the Company recorded film payables of
Food and Beverage Costs	Food and Beverage Costs. The Company records rebate payments from vendors as a reduction of food and beverage costs when earned.
Exhibitor Services Agreement And Common Unit Adjustment Agreement	Exhibitor Services Agreement And Common Unit Adjustment Agreement. Pursuant to the Company’s Common Unit Adjustment Agreement (the “CUA Agreement”), from time to time common units of NCM held by the Founding Members will be adjusted up or down through a formula (the “CUA”), primarily based on increases or decreases in the number of theatre screens operated and theatre attendance generated by each Founding Member. The CUA is computed annually, except that an earlier CUA will occur for a Founding Member if its acquisition or disposition of theatres, in a single transaction or cumulatively since the most recent CUA, will cause a change of 2% or more in the total annual attendance of all of the Founding Members. In the event that a CUA is determined to be a negative number, the Founding Member shall cause, at its election, either (a) the transfer and surrender to NCM of a number of common units equal to all or part of such Founding Member’s CUA or (b) pay to NCM an amount equal to such Founding Member’s CUA calculated in accordance with the CUA Agreement. See Note 2 — —
Customer Loyalty Programs	Customer Loyalty Programs. AMC Stubs ® TM ® ® TM The portion of the admissions and food and beverage revenues attributed to the rewards is deferred as a reduction of admissions and food and beverage revenues and is allocated between admissions and food and beverage revenues based on expected member redemptions. Upon redemption, deferred rewards are recognized as revenues along with associated cost of goods. The Company estimates point breakage in assigning value to the points at the time of sale based on historical trends. The annual membership fee for Premiere is allocated to the material rights for discounted or free products and services and is initially deferred, net of estimated refunds, and recognized as the rights are redeemed based on estimated utilization, over the one-year membership period in admissions, food and beverage, and other revenues. A portion of the revenues related to a material right are deferred as a virtual rewards performance obligation using the relative standalone selling price method and are recognized as the rights are redeemed or expire. A-List offers guests admission to movies at AMC up to three times per week including multiple movies per day and repeat visits to movies. Revenue is recognized ratably over the enrollment period.
Advertising Costs	Advertising Costs. The Company expenses advertising costs as incurred and does not have any direct-response advertising recorded as assets. Advertising costs were
Cash and Cash Equivalents	Cash and Cash Equivalents. All investments purchased with an original maturity of three months or less are classified as cash equivalents. As of December 31, 2024, cash and cash equivalents for the U.S. markets and International markets were
Restricted Cash	Restricted Cash. Restricted cash includes cash held in the Company's bank accounts as a guarantee for certain landlords and cash collateralized letters of credit relating to the Company’s insurance and utilities programs. The following table provides a reconciliation of cash and cash equivalents and restricted cash reported in the consolidated balance sheet to the total of the amounts in the consolidated statements of cash flows. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended (In millions) ​ December 31, 2024 ​ December 31, 2023 ​ December 31, 2022 Cash and cash equivalents ​ $ 632.3 ​ $ 884.3 ​ $ 631.5 Restricted cash ​ ​ 48.5 ​ ​ 27.1 ​ ​ 22.9 Total cash and cash equivalents and restricted cash in the statement of cash flows ​ $ 680.8 ​ $ 911.4 ​ $ 654.4 ​ As of December 31, 2024, restricted cash for the U.S. markets and International markets were $20.7 million and $27.8 million, respectively. As of December 31, 2023, restricted cash for the U.S. markets and International markets were $0 and $27.1 million, respectively.
Intangible Assets	Intangible Assets. ​ The Company first assesses the qualitative factors to determine whether the existence of events and circumstances indicate that it is more likely than not the fair value of an indefinite-lived intangible asset is less than its carrying amount as a basis for determining whether it is necessary to perform the quantitative impairment test. There were no intangible asset impairment charges incurred during the years ended December 31, 2024, December 31, 2023, and December 31, 2022.
Investments	Investments. The Company accounts for its investments in non-consolidated entities using either the cost or equity methods of accounting as appropriate, and has recorded the investments within other long-term assets in its consolidated balance sheets. Equity earnings and losses are recorded when the Company’s ownership interest provides the Company with significant influence. In 2024, the Company reclassified equity earnings and losses to other expense (income), all comparative periods have also been reclassified. The Company follows the guidance in ASC 323-30-35-3, investment in a limited liability company, which prescribes the use of the equity method for investments where the Company has significant influence. The Company classifies gains and losses on sales of investments or impairments accounted for using the cost method in investment expense (income). Gains and losses on cash sales are recorded using the weighted average cost of all interests in the investments. Gains and losses related to non-cash negative common unit adjustments are recorded using the weighted average cost of those units in NCM. See Note 6—Investments for further discussion of the Company’s investments in NCM.
Goodwill	Goodwill. The Company’s recorded goodwill was In accordance with ASC 350-20-35-30, goodwill of a reporting unit shall be tested for impairment between annual tests by assessing the qualitative factors to determine if an event occurs or changes in circumstances that would warrant an interim ASC 350 impairment analysis. If an impairment analysis is needed, the Company performs a quantitative impairment test for goodwill, which involves estimating the fair value of the reporting unit and comparing that value to its carrying value. If the estimated fair value of the reporting unit is less than its carrying value, the difference is recorded as goodwill impairment charge, not to exceed the total amount of goodwill allocated to that reporting unit. Qualitative impairment tests
Other Long-term Assets	Other Long-term Assets. Other long-term assets are comprised principally of investments in partnerships and joint ventures and capitalized computer software, which is amortized over the estimated useful life of the software. Software amortization expense was —
Accounts Payable	Accounts Payable. Under the Company’s cash management system, checks issued but not presented to banks frequently result in book overdraft balances for accounting purposes and are classified within accounts payable in the balance sheet. The change in book overdrafts is reported as a component of operating cash flows for accounts payable as they do not represent bank overdrafts. The amount of these checks included in accounts payable as of December 31, 2024 and December 31, 2023 was
Leases	Leases. Operating lease right-of-use assets and lease liabilities were recorded at commencement date based on the present value of minimum lease payments over the remaining lease term. The minimum lease payments include base rent and other fixed payments, including fixed maintenance costs. The present value of the lease payments is calculated using the incremental borrowing rate for operating leases, which was determined using a portfolio approach based on the rate of interest that the Company would have to pay to borrow an amount equal to the lease payments on a collateralized basis over a similar term. Operating lease expense is recorded on a straight-line basis over the lease term. The Company elected the practical expedient to not separate lease and non-lease components and also elected the short-term practical expedient for all leases that qualify. As a result, the Company will not recognize right-of-use assets or liabilities for short-term leases that qualify for the short-term practical expedient, but instead will recognize the lease payments as lease cost on a straight-line basis over the lease term. The Company’s lease agreements do not contain residual value guarantees. Short-term leases and sublease arrangements are immaterial. Equipment leases primarily consist of food and beverage and digital equipment.
Impairment of Long-lived Assets	​ Impairment of Long-lived Assets. The Company reviews long-lived assets, including definite-lived intangibles and theatre assets (including operating lease right-of-use assets) whenever events or changes in circumstances indicate that the carrying amount of the asset group may not be fully recoverable. The Company identifies impairments related to internal use software when management determines that the remaining carrying value of the software will not be realized through future use. The Company evaluates events or circumstances, including competition in the markets where it operates, that would indicate the carrying value of the asset groups may not be fully recoverable. If an event or circumstance is identified indicating carrying value may not be recoverable, the sum of future undiscounted cash flows is compared to the carrying value. If the carrying value exceeds the future undiscounted cash flows, the asset group may be impaired. If the asset group is determined to be impaired, the carrying value of the asset group is reduced to fair value as estimated by a discounted cash flow model, with the difference recorded as an impairment charge. Asset groups are evaluated for impairment on an individual theatre basis, which management believes is the lowest level for which there are identifiable cash flows. The Company evaluates theatres using historical and projected data of theatre level cash flow as its primary indicator of potential impairment and considers the seasonality of its business when making these evaluations. The fair value of assets is determined as either the expected selling price less selling costs (where appropriate) or the present value of the estimated future cash flows, adjusted as necessary for market participant factors. There is considerable management judgment necessary to determine the estimated future cash flows and fair values of the Company’s theatres and other long-lived assets, and, accordingly, actual results could vary significantly from such estimates, which fall under Level 3 within the fair value measurement hierarchy, see Note 12 — The following table summarizes the Company’s impairments for the years ended December 31, 2024, December 31, 2023, and December 31, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended (In millions) December 31, 2024 December 31, 2023 December 31, 2022 Impairment of long-lived assets ​ $ 72.3 ​ $ 106.9 ​ $ 133.1 Impairment of other assets recorded in investment expense (income) ​ ​ — ​ ​ 1.0 ​ ​ — Total impairment loss ​ $ 72.3 ​ $ 107.9 ​ $ 133.1 During the year ended December 31, 2024, the Company recorded non-cash impairment of long-lived assets of $51.9 million on 39 theatres in the U.S. markets with 469 screens (in Alabama, California, Florida, Illinois, Indiana, Massachusetts, Michigan, Minnesota, New Jersey, New York, Pennsylvania, Texas, Virginia, and Washington) and $20.4 million on 23 theatres in the International markets with 188 screens (in Germany, Italy, Spain, and the UK), which were related to property, net and operating lease right-of-use assets, net. During the year ended December 31, 2023, the Company recorded non-cash impairment of long-lived assets of $49.2 million on 68 theatres in the U.S. markets with 738 screens and $57.7 million on 57 theatres in the International markets with 488 screens, which were related to property, net and operating lease right-of-use assets, net. In addition, during the year ended December 31, 2023, the Company recorded impairment losses of $1.0 million within investment expense (income), related to equity interest investments without a readily determinable fair value accounted for under the cost method in the U.S. markets. During the year ended December 31, 2022, the Company recorded non-cash impairment of long-lived assets of $73.4 million on 68 theatres in the U.S. markets with 817 screens and $59.7 million on 53 theatres in the International markets with 456 screens, which were related to property, net and operating lease right-of-use assets, net.
Foreign Currency Translation	Foreign Currency Translation. Operations outside the United States are generally measured using the local currency as the functional currency. Assets and liabilities are translated at the rates of exchange at the balance sheet date. Income and expense items are translated at average rates of exchange. The resulting translation adjustments are included in foreign currency translation adjustment, a separate component of accumulated other comprehensive income (loss). Gains and losses from foreign currency transactions are included in net earnings (loss), except those intercompany transactions of a long-term investment nature. If the Company substantially liquidates its investment in a foreign entity, any gain or loss on currency translation or transaction balance recorded in accumulated other comprehensive loss is recorded as part of a gain or loss on disposition.
Employee Benefit Plans	Employee Benefit Plans. The Company sponsors frozen non-contributory qualified and non-qualified defined benefit pension plans in the U.S. and frozen defined benefit pension plans in the UK and Sweden. The Company also sponsors various defined contribution plans. The following table sets forth the plans’ benefit obligations and plan assets included in the consolidated balance sheets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Pension Benefits ​ International Pension Benefits ​ ​ Year Ended ​ Year Ended (In millions) December 31, 2024 December 31, 2023 December 31, 2024 December 31, 2023 Aggregated projected benefit obligation at end of period (1) ​ $ (73.8) ​ $ (79.3) ​ $ (63.7) ​ $ (71.9) Aggregated fair value of plan assets at end of period ​ 59.5 ​ 58.3 ​ 66.6 ​ 76.7 Net (liability) asset for benefit cost - funded status ​ $ (14.3) ​ $ (21.0) ​ $ 2.9 ​ $ 4.8 (1) As of December 31, 2024 and December 31, 2023, U.S. aggregated accumulated benefit obligations were $73.8 million and $79.3 million, respectively, and International aggregated accumulated benefit obligations were $63.7 million and $71.9 million, respectively. The Company expects to contribute $2.4 million to the U.S. pension plans during the year ended December 31, 2025. The Company intends to make future cash contributions to the plans in an amount necessary to meet minimum funding requirements according to applicable benefit plan regulations. The weighted-average assumptions used to determine benefit obligations are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Pension Benefits ​ International Pension Benefits ​ ​ December 31, 2024 ​ December 31, 2023 ​ December 31, 2024 ​ December 31, 2023 Discount rate 5.43% ​ 4.76% ​ 5.18% ​ 4.53% Rate of compensation increase N/A ​ N/A ​ 2.22% ​ 2.07% ​ The weighted-average assumptions used to determine net periodic benefit cost are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Pension Benefits ​ International Pension Benefits ​ ​ Year Ended ​ Year Ended ​ ​ December 31, ​ December 31, ​ December 31, ​ December 31, ​ December 31, ​ December 31, ​ 2024 2023 2022 2024 2023 2022 Discount rate 4.76% ​ 4.97% ​ 2.66% ​ 4.53% ​ 4.82% ​ 1.79% Weighted average expected long-term return on plan assets 6.56% ​ 6.56% ​ 6.56% ​ 4.34% ​ 4.32% ​ 1.57% Rate of compensation increase N/A ​ N/A ​ N/A ​ 2.07% ​ 2.19% ​ 2.28% ​ Pension actuarial gains and losses are recorded in stockholders’ deficit as a component of accumulated other comprehensive loss. For further information, see Note 14—Accumulated Other Comprehensive Loss for pension amounts and activity recorded in accumulated other comprehensive loss. For the years ended December 31, 2024, December 31, 2023, and December 31, 2022, net periodic benefit costs (credits) were $1.8 million, $1.4 million, and $(0.6) million, respectively. The non-operating component of net periodic benefit costs is recorded in other expense (income) in the consolidated statements of operations. The following table provides the benefits expected to be paid in each of the next five years, and in the aggregate for the five years thereafter: ​ ​ ​ ​ ​ ​ ​ ​ (In millions) ​ U.S. Pension Benefits ​ International Pension Benefits 2025 ​ $ 4.7 ​ $ 3.9 2026 ​ 4.8 ​ ​ 4.0 2027 ​ 4.9 ​ ​ 4.1 2028 ​ 5.3 ​ ​ 4.3 2029 ​ 5.5 ​ ​ 4.4 Years 2030 - 2034 ​ 27.9 ​ ​ 24.1 ​ The Company’s investment objectives for its U.S. defined benefit pension plan investments are: (1) to preserve the value of its principal; (2) to maximize a real long-term return with respect to the plan assets consistent with minimizing risk; (3) to achieve and maintain adequate asset coverage for accrued benefits under the plan; and (4) to maintain sufficient liquidity for payment of the plan obligations and expenses. The Company uses a diversified allocation of equity, debt, commodity and real estate exposures that are customized to the plan’s cash flow benefit needs. A weighted average targeted allocation percentage is assigned to each asset class as follows: equity securities of 36%, debt securities of 60%, and private real estate of 4%. The International pension benefit plans do not have an established asset target allocation. Investments in the pension plan assets are measured at fair value on a recurring basis. As of December 31, 2024, for the U.S. investment portfolio, 94% were valued using the net asset value per share (or its equivalent) as a practical expedient and 6% of the investment included pooled separate accounts valued using market prices for the underlying instruments that were observable in the market or could be derived by observable market data from independent external valuation information (Level 2 of the fair value hierarchy). As of December 31, 2024, for the International investment portfolio, 12% consisting of cash and equivalents was valued using quoted market prices from actively traded markets (Level 1 of the fair value hierarchy), 22% included mutual funds valued using market prices for the underlying instruments that were observable in the market or could be derived by observable market data from independent external valuation information (Level 2 of the fair value hierarchy) and 66% were valued using the net asset value per share (or its equivalent) as a practical expedient. In June 2023, the High Court in the UK issued a ruling in respect of Virgin Media Limited v NTL Pension Trustees II Limited , that decided certain amendments were invalid for contracted-out salary-related defined benefit pension plans in the period from April 6, 1997 until April 6, 2016, if these amendments were not accompanied by actuarial confirmations (section 37 certificates). An appeal on this decision was heard in June 2024 and The Court of Appeal ruled in July 2024 and upheld the original High Court judgment, removing uncertainty around its application. In light of the ruling, the Company initiated an investigation with its pension trustees, of all known amendments to its two UK defined benefit pension plans during the affected period, with a view to determining whether section 37 certificates have been obtained where deemed required. The initial review concluded that across the two plans there are three documents where a section 37 certificate may have been required but the amendment document is silent. While further legal and actuarial analysis is required, including potentially awaiting further case law, given the nature of the amendments in question the Company does not believe the impact, if any, will be material to the projected benefit obligation. As of December 31, 2024, no specific adjustments for this matter have been included in estimating the projected benefit obligation and related net periodic benefit cost of the applicable plans. The Company will continue to monitor and keep the investigation outcomes under review as conclusions develop and/or change as a consequence of any subsequent court decisions, legislation and/or industry action. The Company sponsors various defined contribution plans which include company match features in the U.S. and Internationally. The expense related to defined contribution plans for the years ended December 31, 2024, December 31, 2023, and December 31, 2022, was $10.5 million, $9.8 million, and $9.0 million, respectively. ​
Income and Operating Taxes	Income and Operating Taxes. The Company accounts for income taxes in accordance with ASC 740-10. Under ASC 740-10, deferred income tax effects of transactions reported in different periods for financial reporting and income tax return purposes are recorded by the asset and liability method. This method gives consideration to the future tax consequences of deferred income or expense items and recognizes changes in income tax laws in the period of enactment. Holdings and its domestic subsidiaries file a consolidated U.S. federal income tax return and combined income tax returns in certain state jurisdictions. Foreign subsidiaries file income tax returns in foreign jurisdictions. Income taxes are determined based on separate Company computations of income or loss. Tax sharing arrangements are in place and utilized when tax benefits from affiliates in the consolidated group are used to offset what would otherwise be taxable income generated by Holdings or another affiliate.
Casualty Insurance	Casualty Insurance. The Company is self-insured for general liability up to
Government Assistance	Government Assistance. The Company recognizes government assistance when the conditions of the grant have been met and there is reasonable assurance that the assistance will be received. Grants relating to specific costs are treated as a reduction of that cost in the consolidated statement of operations. General grants are recorded within other expense (income). Grants related to the construction of long-lived assets are treated as reductions to the cost of the associated assets. During the year ended December 31, 2024, the Company recognized government assistance in other income of $0.1 million related to government assistance for theatres impacted by flooding in Spain. During the year ended December 31, 2023, the Company recognized government assistance in other income of $4.8 million, primarily related to grants in the International markets. During the year ended December 31, 2022, the Company recognized government assistance in other income of $25.8 million, primarily related to grants in the International markets. The general requirements of the grants were that the grantees must have lost income due to the COVID-19 pandemic. The Company concluded all grant criteria had been met and therefore have recognized the entire award. Additionally, the Company recognized $4.5 million, $3.2 million and $1.9 million of government assistance as reduction to property, net during the years ended December 31, 2024, December 31, 2023, and December 31, 2022, respectively. The assistance relates to the construction of capital assets related to the innovation, modernization, and digitalization of the theatrical exhibition industry in certain countries in the International markets. During the years ended December 31, 2024 and December 31, 2023, the Company was awarded $9.7 million and $10.0 million, respectively, of tax credits in our International markets that have been or will be utilized to offset employer payroll tax or value-added tax liabilities. The tax credits are granted by the government to support entities in the film exhibition industry. The Company has recorded these credits as reductions to operating expense during 2024 and rent and operating expense during 2023 as those expenses were the basis for the tax credits awarded.
Other Expense (Income)	Other Expense (Income): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended (In millions) December 31, 2024 December 31, 2023 December 31, 2022 Credit income related to contingent lease guarantees ​ $ — ​ $ — ​ $ (0.2) Governmental assistance – International markets ​ ​ (0.1) ​ ​ (3.8) ​ ​ (23.0) Governmental assistance – U.S. markets ​ ​ — ​ ​ (1.0) ​ ​ (2.8) Foreign currency transaction (gains) losses ​ ​ 7.0 ​ ​ (17.8) ​ ​ (12.3) Non-operating components of net periodic benefit cost (income) ​ ​ 1.8 ​ ​ 1.4 ​ ​ (0.6) Loss on extinguishment - First Lien Notes due 2025 ​ ​ — ​ ​ — ​ ​ 47.7 Loss on extinguishment - First Lien Notes due 2026 ​ ​ — ​ ​ — ​ ​ 54.4 Loss on extinguishment - First Lien Toggle Notes due 2026 ​ ​ — ​ ​ — ​ ​ 32.9 Gain on extinguishment - Second Lien Notes due 2026 ​ ​ (40.3) ​ ​ (140.5) ​ ​ (75.0) Loss on extinguishment - Senior Subordinated Notes due 2025 ​ ​ 2.7 ​ ​ — ​ ​ — Gain on extinguishment - Senior Subordinated Notes due 2026 ​ ​ (1.3) ​ ​ (2.3) ​ ​ — Gain on extinguishment - Senior Subordinated Notes due 2027 ​ ​ — ​ ​ — ​ ​ (3.7) Loss on extinguishment - Odeon Term Loan Facility ​ ​ — ​ ​ — ​ ​ 36.5 Term Loan modification - third party fees ​ ​ 42.3 ​ ​ — ​ ​ — Derivative liability fair value decrease for embedded conversion feature in the Exchangeable Notes due 2030 ​ ​ (75.8) ​ ​ — ​ ​ — Equity in (earnings) loss of non-consolidated entities ​ ​ (12.4) ​ ​ (7.7) ​ ​ 1.6 Derivative stockholder settlement ​ ​ — ​ ​ (14.0) ​ ​ — Shareholder litigation expense and (recoveries) ​ ​ (40.2) ​ ​ 110.2 ​ ​ — Vendor dispute settlement ​ ​ (36.2) ​ ​ — ​ ​ — Other settlement proceeds ​ ​ (3.6) ​ ​ — ​ ​ — Business interruption insurance recoveries ​ ​ (0.1) ​ ​ (1.3) ​ ​ (0.3) Other expense (income) ​ $ (156.2) ​ $ (76.8) ​ $ 55.2
Accounting Pronouncements Recently Adopted	Accounting Pronouncements Recently Adopted Segment Reporting Accounting Pronouncements Issued Not Yet Adopted Income Tax Disclosures Disaggregation of Income Statement Expenses. ​ Induced Conversions of Convertible Debt Instruments.

THE COMPANY AND SIGNIFICANT A_3

THE COMPANY AND SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2024
THE COMPANY AND SIGNIFICANT ACCOUNTING POLICIES
Schedule of consolidated statement of cash flows	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended (In millions) ​ December 31, 2024 ​ December 31, 2023 ​ December 31, 2022 Cash and cash equivalents ​ $ 632.3 ​ $ 884.3 ​ $ 631.5 Restricted cash ​ ​ 48.5 ​ ​ 27.1 ​ ​ 22.9 Total cash and cash equivalents and restricted cash in the statement of cash flows ​ $ 680.8 ​ $ 911.4 ​ $ 654.4
Schedule of impairment of assets	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended (In millions) December 31, 2024 December 31, 2023 December 31, 2022 Impairment of long-lived assets ​ $ 72.3 ​ $ 106.9 ​ $ 133.1 Impairment of other assets recorded in investment expense (income) ​ ​ — ​ ​ 1.0 ​ ​ — Total impairment loss ​ $ 72.3 ​ $ 107.9 ​ $ 133.1
Schedule of benefit obligations and plan assets and the accrued liability	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Pension Benefits ​ International Pension Benefits ​ ​ Year Ended ​ Year Ended (In millions) December 31, 2024 December 31, 2023 December 31, 2024 December 31, 2023 Aggregated projected benefit obligation at end of period (1) ​ $ (73.8) ​ $ (79.3) ​ $ (63.7) ​ $ (71.9) Aggregated fair value of plan assets at end of period ​ 59.5 ​ 58.3 ​ 66.6 ​ 76.7 Net (liability) asset for benefit cost - funded status ​ $ (14.3) ​ $ (21.0) ​ $ 2.9 ​ $ 4.8 (1) As of December 31, 2024 and December 31, 2023, U.S. aggregated accumulated benefit obligations were $73.8 million and $79.3 million, respectively, and International aggregated accumulated benefit obligations were $63.7 million and $71.9 million, respectively.
Schedule of weighted-average assumptions used to determine benefit obligations	The weighted-average assumptions used to determine benefit obligations are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Pension Benefits ​ International Pension Benefits ​ ​ December 31, 2024 ​ December 31, 2023 ​ December 31, 2024 ​ December 31, 2023 Discount rate 5.43% ​ 4.76% ​ 5.18% ​ 4.53% Rate of compensation increase N/A ​ N/A ​ 2.22% ​ 2.07% ​ The weighted-average assumptions used to determine net periodic benefit cost are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Pension Benefits ​ International Pension Benefits ​ ​ Year Ended ​ Year Ended ​ ​ December 31, ​ December 31, ​ December 31, ​ December 31, ​ December 31, ​ December 31, ​ 2024 2023 2022 2024 2023 2022 Discount rate 4.76% ​ 4.97% ​ 2.66% ​ 4.53% ​ 4.82% ​ 1.79% Weighted average expected long-term return on plan assets 6.56% ​ 6.56% ​ 6.56% ​ 4.34% ​ 4.32% ​ 1.57% Rate of compensation increase N/A ​ N/A ​ N/A ​ 2.07% ​ 2.19% ​ 2.28%
Schedule of expected benefit payments	​ ​ ​ ​ ​ ​ ​ ​ (In millions) ​ U.S. Pension Benefits ​ International Pension Benefits 2025 ​ $ 4.7 ​ $ 3.9 2026 ​ 4.8 ​ ​ 4.0 2027 ​ 4.9 ​ ​ 4.1 2028 ​ 5.3 ​ ​ 4.3 2029 ​ 5.5 ​ ​ 4.4 Years 2030 - 2034 ​ 27.9 ​ ​ 24.1
Schedule components of other expense (income)	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended (In millions) December 31, 2024 December 31, 2023 December 31, 2022 Credit income related to contingent lease guarantees ​ $ — ​ $ — ​ $ (0.2) Governmental assistance – International markets ​ ​ (0.1) ​ ​ (3.8) ​ ​ (23.0) Governmental assistance – U.S. markets ​ ​ — ​ ​ (1.0) ​ ​ (2.8) Foreign currency transaction (gains) losses ​ ​ 7.0 ​ ​ (17.8) ​ ​ (12.3) Non-operating components of net periodic benefit cost (income) ​ ​ 1.8 ​ ​ 1.4 ​ ​ (0.6) Loss on extinguishment - First Lien Notes due 2025 ​ ​ — ​ ​ — ​ ​ 47.7 Loss on extinguishment - First Lien Notes due 2026 ​ ​ — ​ ​ — ​ ​ 54.4 Loss on extinguishment - First Lien Toggle Notes due 2026 ​ ​ — ​ ​ — ​ ​ 32.9 Gain on extinguishment - Second Lien Notes due 2026 ​ ​ (40.3) ​ ​ (140.5) ​ ​ (75.0) Loss on extinguishment - Senior Subordinated Notes due 2025 ​ ​ 2.7 ​ ​ — ​ ​ — Gain on extinguishment - Senior Subordinated Notes due 2026 ​ ​ (1.3) ​ ​ (2.3) ​ ​ — Gain on extinguishment - Senior Subordinated Notes due 2027 ​ ​ — ​ ​ — ​ ​ (3.7) Loss on extinguishment - Odeon Term Loan Facility ​ ​ — ​ ​ — ​ ​ 36.5 Term Loan modification - third party fees ​ ​ 42.3 ​ ​ — ​ ​ — Derivative liability fair value decrease for embedded conversion feature in the Exchangeable Notes due 2030 ​ ​ (75.8) ​ ​ — ​ ​ — Equity in (earnings) loss of non-consolidated entities ​ ​ (12.4) ​ ​ (7.7) ​ ​ 1.6 Derivative stockholder settlement ​ ​ — ​ ​ (14.0) ​ ​ — Shareholder litigation expense and (recoveries) ​ ​ (40.2) ​ ​ 110.2 ​ ​ — Vendor dispute settlement ​ ​ (36.2) ​ ​ — ​ ​ — Other settlement proceeds ​ ​ (3.6) ​ ​ — ​ ​ — Business interruption insurance recoveries ​ ​ (0.1) ​ ​ (1.3) ​ ​ (0.3) Other expense (income) ​ $ (156.2) ​ $ (76.8) ​ $ 55.2

REVENUE RECOGNITION (Tables)

REVENUE RECOGNITION (Tables)	12 Months Ended
	Dec. 31, 2024
Disaggregation of Revenue [Line Items]
Schedule of disaggregated revenue	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended (In millions) ​ December 31, 2024 ​ December 31, 2023 ​ December 31, 2022 Major revenue types ​ ​ ​ ​ ​ ​ ​ Admissions ​ $ 2,560.5 ​ $ 2,690.5 ​ $ 2,201.4 Food and beverage ​ ​ 1,624.9 ​ ​ 1,669.8 ​ ​ 1,313.7 Other theatre: ​ ​ ​ ​ ​ ​ ​ ​ ​ Advertising ​ ​ 132.9 ​ ​ 129.5 ​ ​ 122.7 Other theatre ​ ​ 318.9 ​ ​ 322.8 ​ ​ 273.6 Other theatre ​ ​ 451.8 ​ ​ 452.3 ​ ​ 396.3 Total revenues ​ $ 4,637.2 ​ $ 4,812.6 ​ $ 3,911.4 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended (In millions) ​ December 31, 2024 ​ December 31, 2023 ​ December 31, 2022 Timing of revenue recognition ​ ​ ​ ​ ​ ​ Products and services transferred at a point in time ​ $ 4,224.7 ​ $ 4,424.1 ​ $ 3,579.9 Products and services transferred over time ​ ​ 412.5 ​ ​ 388.5 ​ ​ 331.5 Total revenues ​ $ 4,637.2 ​ $ 4,812.6 ​ $ 3,911.4 (1) Amounts primarily include subscription and advertising revenues. ​
Schedule of receivables and deferred revenue income	​ ​ ​ ​ ​ ​ ​ ​ (In millions) ​ December 31, 2024 ​ December 31, 2023 Current assets ​ ​ ​ ​ ​ ​ Receivables related to contracts with customers ​ $ 86.0 ​ $ 113.5 Miscellaneous receivables ​ ​ 82.1 ​ ​ 90.2 Receivables, net ​ $ 168.1 ​ $ 203.7 ​ ​ ​ ​ ​ ​ ​ ​ (In millions) ​ December 31, 2024 ​ December 31, 2023 Current liabilities ​ ​ ​ ​ ​ ​ Deferred revenues related to contracts with customers ​ $ 425.6 ​ $ 415.3 Miscellaneous deferred income ​ ​ 6.8 ​ ​ 6.5 Deferred revenues and income ​ $ 432.4 ​ $ 421.8 ​
Schedule of transaction price allocated to the remaining performance obligations related to Exhibitor Service Agreements	​ ​ ​ ​ ​ (In millions) ​ Exhibitor Services Agreement Year ended 2025 ​ $ 24.4 Year ended 2026 ​ ​ 26.2 Year ended 2027 ​ ​ 28.2 Year ended 2028 ​ ​ 30.4 Year ended 2029 ​ ​ 32.8 Years ended 2030 through February 2037 ​ ​ 322.0 Total ​ $ 464.0
Sales Channel, Directly to Consumer
Disaggregation of Revenue [Line Items]
Schedule of changes in contract liabilities	​ ​ ​ ​ ​ ​ ​ Deferred Revenues ​ ​ Related to Contracts (In millions) ​ with Customers Balance December 31, 2022 ​ $ 398.8 Cash received in advance ​ ​ 331.7 Customer loyalty rewards accumulated, net of expirations: ​ ​ ​ Admission revenues ​ ​ 22.3 Food and beverage revenues ​ ​ 37.8 Other theatre revenues ​ ​ (1.3) Reclassification to revenue as the result of performance obligations satisfied: ​ ​ ​ Admission revenues ​ ​ (237.5) Food and beverage revenues ​ ​ (70.1) Other theatre revenues ​ ​ (64.1) Foreign currency translation adjustment ​ ​ (2.3) Balance December 31, 2023 ​ $ 415.3 Cash received in advance ​ ​ 354.1 Customer loyalty rewards accumulated, net of expirations: ​ ​ ​ Admission revenues ​ ​ 22.6 Food and beverage revenues ​ ​ 39.5 Other theatre revenues ​ ​ (2.6) Reclassification to revenue as the result of performance obligations satisfied: ​ ​ ​ Admission revenues ​ ​ (254.1) Food and beverage revenues ​ ​ (75.8) Other theatre revenues ​ ​ (73.2) Foreign currency translation adjustment ​ ​ (0.2) Balance December 31, 2024 ​ $ 425.6 (1) Includes movie tickets, food and beverage, gift cards, exchange tickets, subscription membership fees, and other loyalty membership fees. (2) Amount of rewards accumulated, net of expirations, that are attributed to loyalty programs. (3) Amount of rewards redeemed that are attributed to gift cards, exchange tickets, movie tickets, and loyalty programs. (4) Amounts relate to income from non-redeemed or partially redeemed gift cards, non-redeemed exchange tickets, subscription membership fees, and loyalty programs membership fees.
Sales Channel, Through Intermediary
Disaggregation of Revenue [Line Items]
Schedule of changes in contract liabilities	​ ​ ​ ​ ​ ​ ​ Exhibitor Services (In millions) ​ Agreement (1) Balance December 31, 2022 ​ $ 505.8 Reclassification, net of adjustments, for portion of the beginning balance to other theatre revenue, as the result of performance obligations satisfied ​ ​ (19.2) Balance December 31, 2023 ​ ​ 486.6 Reclassification of the beginning balance to other theatre revenue, as the result of performance obligations satisfied ​ ​ (22.6) Balance December 31, 2024 ​ $ 464.0 (1) Represents the carrying amount of the NCM common units that were previously received under the annual CUA and subsequent adjustments related to the NCM Bankruptcy, as discussed in greater detail below. The deferred revenues are being amortized to other theatre revenues over the remainder of the 30 -year term of the ESA ending in February 2037.

LEASES (Tables)

LEASES (Tables)	12 Months Ended
	Dec. 31, 2024
LEASES
Schedule of components of lease costs	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended ​ ​ ​ ​ December 31, ​ December 31, ​ December 31, (In millions) ​ Consolidated Statements of Operations ​ 2024 ​ 2023 ​ 2022 Operating lease cost ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Theatre properties ​ Rent ​ $ 775.3 ​ $ 788.1 ​ $ 812.0 Theatre properties ​ Operating expense ​ ​ 5.6 ​ ​ 2.0 ​ ​ 5.4 Equipment ​ Operating expense ​ ​ 31.1 ​ ​ 17.5 ​ ​ 8.6 Office and other ​ General and administrative: other ​ ​ 5.4 ​ ​ 5.4 ​ ​ 5.3 Finance lease cost ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amortization of finance lease assets ​ Depreciation and amortization ​ ​ 2.7 ​ ​ 2.0 ​ ​ 2.6 Interest expense on lease liabilities ​ Interest expense ​ ​ 3.4 ​ ​ 3.7 ​ ​ 4.1 Variable lease cost ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Theatre properties ​ Rent ​ ​ 98.3 ​ ​ 85.4 ​ ​ 74.2 Theatre properties ​ Interest expense ​ ​ 2.0 ​ ​ — ​ ​ — Equipment ​ Operating expense ​ ​ 65.4 ​ ​ 63.3 ​ ​ 60.0 Total lease cost ​ ​ ​ $ 989.2 ​ $ 967.4 ​ $ 972.2
Schedule of weighted average remaining lease term and discount rate	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted Average ​ Weighted Average ​ ​ Remaining ​ Discount Lease Term and Discount Rate ​ Lease Term (years) ​ Rate Operating leases ​ ​ 8.1 ​ ​ 10.7% Finance leases ​ ​ 13.2 ​ ​ 6.4%
Schedule of cash flow and supplemental information	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended ​ ​ December 31, ​ December 31, ​ December 31, (In millions) ​ 2024 ​ 2023 ​ 2022 Cash paid for amounts included in the measurement of lease liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating cash flows used in finance leases ​ $ (3.4) ​ $ (3.7) ​ $ (3.8) Operating cash flows used in operating leases ​ ​ (925.1) ​ ​ (986.4) ​ ​ (1,032.4) Financing cash flows used in finance leases ​ ​ (4.6) ​ ​ (5.6) ​ ​ (9.4) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Landlord contributions: ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating cash flows provided by operating leases ​ ​ 31.8 ​ ​ 23.9 ​ ​ 19.9 Supplemental disclosure of noncash leasing activities: ​ ​ ​ ​ ​ ​ ​ ​ ​ Right-of-use assets obtained in exchange for new operating lease liabilities ​ ​ 196.3 ​ ​ 214.1 ​ ​ 277.3 Right-of-use assets obtained in exchange for new finance lease liabilities ​ ​ 2.6 ​ ​ — ​ ​ — ​ (1) Includes lease extensions and option exercises.
Schedule of minimum annual payments required under existing leases	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating Lease ​ Finance Lease (In millions) ​ Payments ​ Payments 2025 ​ ​ 911.2 ​ ​ 7.4 2026 ​ ​ 858.3 ​ ​ 7.5 2027 ​ ​ 796.2 ​ ​ 7.4 2028 ​ ​ 709.6 ​ ​ 7.4 2029 ​ ​ 604.8 ​ ​ 7.3 Thereafter ​ ​ 2,295.6 ​ ​ 38.0 Total lease payments ​ ​ 6,175.7 ​ ​ 75.0 Less imputed interest ​ ​ (2,023.2) ​ ​ (25.7) Total operating and finance lease liabilities, respectively ​ $ 4,152.5 ​ $ 49.3

PROPERTY (Tables)

PROPERTY (Tables)	12 Months Ended
	Dec. 31, 2024
PROPERTY
Summary of property	​ ​ ​ ​ ​ ​ ​ ​ (In millions) December 31, 2024 December 31, 2023 Property owned: ​ ​ ​ ​ ​ ​ Land ​ $ 62.3 ​ $ 62.6 Buildings and improvements ​ 205.5 ​ 205.8 Leasehold improvements ​ 2,018.6 ​ 1,958.3 Furniture, fixtures and equipment ​ 2,386.6 ​ 2,387.0 ​ ​ 4,673.0 ​ 4,613.7 Less: accumulated depreciation ​ 3,265.1 ​ 3,091.7 ​ ​ ​ 1,407.9 ​ ​ 1,522.0 ​ ​ ​ ​ ​ ​ ​ Property leased under finance leases: ​ ​ ​ ​ ​ ​ Building and improvements ​ ​ 57.4 ​ ​ 56.5 Less: accumulated depreciation and amortization ​ ​ 23.0 ​ ​ 18.1 ​ ​ ​ 34.4 ​ ​ 38.4 ​ ​ $ 1,442.3 ​ $ 1,560.4
Schedule of estimated useful lives	​ ​ ​ ​ Buildings and improvements 1 to 40 years Leasehold improvements ​ 1 to 20 years Furniture, fixtures and equipment ​ 1 to 15 years

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS (Tables)	12 Months Ended
	Dec. 31, 2024
GOODWILL AND INTANGIBLE ASSETS
Summary of the changes in goodwill by reporting unit	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Markets ​ International Markets ​ Consolidated Goodwill (In millions) ​ Gross Carrying Amount ​ Accumulated Impairment Losses ​ Net Carrying Amount ​ Gross Carrying Amount ​ Accumulated Impairment Losses ​ Net Carrying Amount ​ Gross Carrying Amount ​ Accumulated Impairment Losses ​ Net Carrying Amount Balance December 31, 2022 ​ $ 3,072.6 ​ $ (1,276.1) ​ $ 1,796.5 ​ $ 1,521.8 ​ $ (976.3) ​ $ 545.5 ​ $ 4,594.4 ​ $ (2,252.4) ​ $ 2,342.0 Currency translation adjustment ​ ​ — ​ ​ — ​ ​ — ​ ​ 67.7 ​ ​ (51.0) ​ ​ 16.7 ​ ​ 67.7 ​ ​ (51.0) ​ ​ 16.7 Balance December 31, 2023 ​ $ 3,072.6 ​ $ (1,276.1) ​ $ 1,796.5 ​ $ 1,589.5 ​ $ (1,027.3) ​ $ 562.2 ​ $ 4,662.1 ​ $ (2,303.4) ​ $ 2,358.7 Currency translation adjustment ​ ​ — ​ ​ — ​ ​ — ​ ​ (72.5) ​ ​ 14.9 ​ ​ (57.6) ​ ​ (72.5) ​ ​ 14.9 ​ ​ (57.6) Balance December 31, 2024 ​ $ 3,072.6 ​ $ (1,276.1) ​ $ 1,796.5 ​ $ 1,517.0 ​ $ (1,012.4) ​ $ 504.6 ​ $ 4,589.6 ​ $ (2,288.5) ​ $ 2,301.1 ​
Schedule of detail of other intangible assets	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2024 ​ December 31, 2023 ​ ​ Gross ​ ​ Gross ​ ​ ​ ​ Remaining ​ Carrying ​ Accumulated ​ Carrying ​ Accumulated (In millions) ​ Useful Life ​ Amount ​ Amortization ​ Amount ​ Amortization Amortizable intangible assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Management contracts 1 year ​ $ 1.7 ​ $ (1.6) ​ $ 1.7 ​ $ (1.6) ​ Starplex trade name ​ 2 years ​ ​ 7.9 ​ ​ (6.6) ​ ​ 7.9 ​ ​ (5.7) ​ Total, amortizable ​ ​ ​ $ 9.6 ​ $ (8.2) ​ $ 9.6 ​ $ (7.3) ​ Non-amortizing intangible assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ AMC trademark ​ ​ ​ $ 104.4 ​ ​ ​ ​ $ 104.4 ​ ​ ​ ​ Odeon trade names ​ ​ ​ ​ 36.0 ​ ​ ​ ​ ​ 37.3 ​ ​ ​ ​ Nordic trade names ​ ​ ​ ​ 2.5 ​ ​ ​ ​ ​ 2.7 ​ ​ ​ ​ Total, unamortizable ​ ​ ​ $ 142.9 ​ ​ ​ ​ $ 144.4 ​ ​ ​ ​
Schedule of amortization expense associated with the intangible assets	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended ​ (In millions) December 31, 2024 December 31, 2023 December 31, 2022 ​ Recorded amortization ​ $ 0.8 ​ $ 2.1 ​ $ 2.6 ​ ​

INVESTMENTS (Tables)

INVESTMENTS (Tables)	12 Months Ended
	Dec. 31, 2024
INVESTMENTS
Schedule of investments in non-consolidated affiliates	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (In millions) December 31, 2024 ​ December 31, 2023 Current assets ​ $ 230.8 ​ $ 263.8 Noncurrent assets ​ ​ 199.0 ​ 224.7 Total assets ​ ​ 429.8 ​ 488.5 Current liabilities ​ ​ 280.4 ​ 130.9 Noncurrent liabilities ​ ​ 231.5 ​ 385.0 Total liabilities ​ ​ 511.9 ​ 515.9 Stockholders’ deficit ​ ​ (82.1) ​ (27.4) Liabilities and stockholders’ deficit ​ ​ 429.8 ​ 488.5 The Company’s recorded investment ​ ​ 53.6 ​ ​ 56.4 ​ Condensed financial information of the Company’s non-consolidated equity method investments is shown below and amounts are presented under U.S. GAAP for the periods of ownership by the Company: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended ​ ​ December 31, ​ December 31, ​ December 31, (In millions) 2024 2023 ​ 2022 Revenues ​ $ 473.5 ​ $ 425.6 ​ $ 412.8 Operating costs and expenses ​ ​ 489.9 ​ ​ 449.9 ​ ​ 498.2 Net loss ​ $ (16.4) ​ $ (24.3) ​ $ (85.4)
Schedule of Related Party Transactions with Equity Method Investees	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of As of (In millions) ​ December 31, 2024 December 31, 2023 Due from DCM for on-screen advertising revenue ​ $ 3.9 ​ $ 3.3 Loan receivable from DCM ​ ​ 0.6 ​ ​ 0.6 Due to AC JV for Fathom Events programming ​ ​ (1.5) ​ ​ (2.3) Loan receivable from Vasteras ​ ​ 0.8 ​ ​ 1.0 Due from Capa for on-screen advertising revenue ​ ​ 1.4 ​ ​ 1.4 Due to Vasteras ​ ​ (0.6) ​ ​ (0.9) Due to U.S. theatre partnerships ​ ​ (0.7) ​ ​ (0.6) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended (In millions) ​ Consolidated Statements of Operations ​ December 31, 2024 ​ December 31, 2023 ​ December 31, 2022 DCM screen advertising revenues ​ Other revenues ​ $ 17.8 ​ $ 18.8 ​ $ 17.0 DCDC content delivery services ​ Operating expense ​ ​ 1.3 ​ ​ 1.4 ​ ​ 1.0 Gross exhibition cost on AC JV Fathom Events programming ​ Film exhibition costs ​ ​ 29.6 ​ ​ 17.5 ​ ​ 11.6 Screenvision screen advertising revenues ​ Other revenues ​ ​ 7.3 ​ ​ 8.7 ​ ​ 6.9 Capa advertising revenues ​ Other revenues ​ ​ 1.6 ​ ​ 1.1 ​ ​ 2.4 ​

SUPPLEMENTAL BALANCE SHEET IN_2

SUPPLEMENTAL BALANCE SHEET INFORMATION (Tables)	12 Months Ended
	Dec. 31, 2024
SUPPLEMENTAL BALANCE SHEET INFORMATION
Schedule of other current assets and other long-term assets	​ ​ ​ ​ ​ ​ ​ ​ (In millions) December 31, 2024 December 31, 2023 Other current assets: ​ ​ ​ ​ ​ ​ Income taxes receivable ​ $ 1.4 ​ $ 1.5 Prepaids ​ 36.0 ​ 32.5 Merchandise inventory ​ 51.2 ​ 39.5 Other ​ 9.7 ​ 14.5 ​ ​ $ 98.3 ​ $ 88.0 Other long-term assets: ​ ​ ​ ​ ​ ​ Investments in real estate ​ $ 3.5 ​ $ 3.6 Deferred financing costs revolving credit facility ​ — ​ 0.7 Investments in equity method investees ​ 53.6 ​ 56.4 Computer software ​ 86.4 ​ 76.6 Investment in common stock ​ 10.4 ​ 10.4 Pension asset ​ ​ 14.2 ​ 17.2 Investment in Hycroft common stock ​ ​ 5.3 ​ 5.8 Investment in Hycroft warrants ​ ​ 0.8 ​ 3.3 Other ​ 18.3 ​ 21.8 ​ ​ $ 192.5 ​ $ 195.8 Accrued expenses and other liabilities: ​ ​ ​ ​ ​ ​ Taxes other than income ​ $ 79.8 ​ $ 76.4 Interest ​ 43.1 ​ 50.3 Payroll and vacation ​ 57.9 ​ 50.4 Current portion of casualty claims and premiums ​ 9.8 ​ 9.3 Accrued bonus ​ 47.7 ​ 56.7 Accrued licensing and variable rent ​ 27.5 ​ 24.6 Current portion of pension ​ ​ 0.2 ​ ​ 0.1 Group insurance reserve ​ ​ 1.5 ​ ​ 3.4 Accrued tax payable ​ ​ 1.5 ​ ​ 1.7 Other ​ 71.6 ​ 77.9 ​ ​ $ 340.6 ​ $ 350.8 Other long-term liabilities: ​ ​ ​ ​ ​ ​ Pension ​ $ 25.4 ​ $ 33.3 Casualty claims and premiums ​ 16.2 ​ 13.5 Contingencies ​ ​ 9.4 ​ ​ 18.7 Other ​ 30.9 ​ 37.2 ​ ​ $ 81.9 ​ $ 102.7 ​ (1) The equity method investment in Hycroft and related warrants are measured at fair value. See Note 6—Investments and Note 12—Fair Value Measurements for further information regarding the investment in Hycroft.

CORPORATE BORROWINGS AND FINA_2

CORPORATE BORROWINGS AND FINANCE LEASE LIABILITIES (Tables)	12 Months Ended
	Dec. 31, 2024
CORPORATE BORROWINGS AND FINANCE LEASE LIABILITIES
Summary of the carrying value of corporate borrowings and capital and financing lease obligations	​ ​ ​ ​ ​ ​ ​ ​ (In millions) December 31, 2024 December 31, 2023 Secured Debt: ​ ​ ​ ​ ​ ​ Credit Agreement-Term Loans due 2029 (11.356% as of December 31, 2024) ​ $ 2,014.2 ​ $ — 12.75% Odeon Senior Secured Notes due 2027 ​ ​ 400.0 ​ ​ 400.0 7.5% First Lien Notes due 2029 ​ ​ 950.0 ​ ​ 950.0 Senior Secured Credit Facility-Term Loan due 2026 (8.474% as of December 31, 2023) ​ ​ — ​ ​ 1,905.0 6.00%/8.00% Cash/PIK Toggle Senior Secured Exchangeable Notes due 2030 ​ ​ 427.6 ​ ​ — Subordinated Debt: ​ ​ ​ ​ ​ ​ 10%/12% Cash/PIK Toggle Second Lien Subordinated Notes due 2026 ​ ​ 131.2 ​ ​ 968.9 6.375% Senior Subordinated Notes due 2024 (£4.0 million par value as of December 31, 2023) ​ ​ — ​ ​ 5.1 5.75% Senior Subordinated Notes due 2025 ​ ​ 44.1 ​ ​ 98.3 5.875% Senior Subordinated Notes due 2026 ​ ​ 41.9 ​ ​ 51.5 6.125% Senior Subordinated Notes due 2027 ​ ​ 125.5 ​ ​ 125.5 Total principal amount of corporate borrowings ​ $ 4,134.5 ​ $ 4,504.3 Finance lease liabilities ​ 49.3 ​ 55.4 Paid-in-kind interest for 6.00%/8.00% Cash/PIK Toggle Senior Secured Exchangeable Notes due 2030 ​ ​ 1.5 ​ ​ — Deferred financing costs ​ ​ (47.2) ​ ​ (31.1) Net premium (discount) ​ ​ (171.3) ​ ​ 104.2 Derivative liability - Conversion Option ​ ​ 157.6 ​ ​ — Total carrying value of corporate borrowings and finance lease liabilities ​ $ 4,124.4 ​ $ 4,632.8 Less: ​ ​ ​ ​ ​ ​ Current maturities of corporate borrowings ​ ​ (64.2) ​ (25.1) Current maturities of finance lease liabilities ​ ​ (4.4) ​ ​ (5.4) Total noncurrent carrying value of corporate borrowings and finance lease liabilities ​ $ 4,055.8 ​ $ 4,602.3 ​ (1) The following table provides the net premium (discount) amounts of corporate borrowings:
Summary of net premium (discount) amounts of corporate borrowings	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, (In millions) ​ 2024 ​ 2023 10%/12% Cash/PIK Toggle Second Lien Subordinated Notes due 2026 ​ $ 10.9 ​ $ 133.9 Senior Secured Credit Facility-Term Loan due 2026 ​ ​ — ​ ​ (3.3) 12.75% Odeon Senior Secured Notes due 2027 ​ ​ (20.9) ​ ​ (26.4) Credit Agreement-Term Loans due 2029 ​ ​ (43.4) ​ ​ — 6.00%/8.00% Cash/PIK/Toggle Senior Secured Exchangeable Notes due 2030 ​ ​ (117.9) ​ ​ — Net premium (discount) ​ $ (171.3) ​ $ 104.2
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 2025 ​ ​ 64.2 2026 ​ 192.9 2027 ​ 545.1 2028 ​ 19.5 2029 ​ 2,885.2 Thereafter ​ ​ 427.6 Total ​ $ 4,134.5
Schedule of share issuance upon exchange of debt	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Shares of ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Aggregate Principal ​ Common Stock ​ Reacquisition ​ (Gain)/Loss on ​ Accrued Interest (In millions, except for share data) ​ Repurchased/Exchanged ​ Exchanged ​ Cost ​ Extinguishment ​ Paid/Exchanged Cash debt repurchase transactions: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 5.75% Senior Subordinated Notes due 2025 ​ $ 8.9 ​ ​ — ​ $ 8.6 ​ $ (0.3) ​ $ 0.1 Second Lien Notes due 2026 ​ ​ 50.0 ​ ​ — ​ ​ 50.5 ​ ​ (4.4) ​ ​ 1.4 Total cash debt repurchase transactions ​ ​ 58.9 ​ ​ — ​ ​ 59.1 ​ ​ (4.7) ​ ​ 1.5 Debt for equity exchange transactions: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 5.75% Senior Subordinated Notes due 2025 ​ ​ 36.7 ​ ​ 9,017,297 ​ ​ 39.8 ​ ​ 3.2 ​ ​ 0.8 Second Lien Notes due 2026 ​ ​ 224.1 ​ ​ 35,062,835 ​ ​ 157.2 ​ ​ (93.1) ​ ​ 8.3 Total debt for equity exchange transactions ​ ​ 260.8 ​ ​ 44,080,132 ​ ​ 197.0 ​ ​ (89.9) ​ ​ 9.1 Cash and debt for equity exchange transactions: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 5.75% Senior Subordinated Notes due 2025 ​ ​ 8.6 ​ ​ 447,829 ​ ​ 8.4 ​ ​ (0.2) ​ ​ 0.1 5.875% Senior Subordinated Notes due 2026 ​ ​ 9.6 ​ ​ 432,777 ​ ​ 8.1 ​ ​ (1.3) ​ ​ 0.2 Second Lien Notes due 2026 ​ ​ 45.0 ​ ​ 2,693,717 ​ ​ 45.5 ​ ​ (4.0) ​ ​ 1.2 Total cash and debt for equity exchange transactions ​ ​ 63.2 ​ ​ 3,574,323 ​ ​ 62.0 ​ ​ (5.5) ​ ​ 1.5 Total debt repurchases and exchanges ​ $ 382.9 ​ ​ 47,654,455 ​ $ 318.1 ​ $ (100.1) ​ $ 12.1
Schedule of debt repurchases transactions	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Shares of ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Aggregate Principal ​ Common Stock ​ Reacquisition ​ (Gain) on ​ Accrued Interest (In millions, except for share data) ​ Repurchased/Exchanged ​ Exchanged ​ Cost ​ Extinguishment ​ Paid/Exchanged Cash debt repurchase transactions: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Related party transactions: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Second Lien Notes due 2026 ​ $ 75.9 ​ $ — ​ $ 48.5 ​ $ (40.9) ​ $ 1.1 5.875% Senior Subordinated Notes due 2026 ​ ​ 4.1 ​ ​ — ​ ​ 1.7 ​ ​ (2.3) ​ ​ 0.1 Total related party transactions ​ ​ 80.0 ​ ​ — ​ ​ 50.2 ​ ​ (43.2) ​ ​ 1.2 Non-related party transactions: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Second Lien Notes due 2026 ​ ​ 139.7 ​ ​ — ​ ​ 91.4 ​ ​ (71.3) ​ ​ 4.5 Total non-related party transactions ​ ​ 139.7 ​ ​ — ​ ​ 91.4 ​ ​ (71.3) ​ ​ 4.5 Total cash debt repurchase transactions ​ $ 219.7 ​ $ — ​ $ 141.6 ​ $ (114.5) ​ $ 5.7 Debt for equity exchange transactions: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Second Lien Notes due 2026 ​ $ 105.3 ​ ​ 14,186,651 ​ ​ 91.7 ​ ​ (28.3) ​ ​ 1.2 Total debt repurchases and exchanges ​ $ 325.0 ​ ​ 14,186,651 ​ $ 233.3 ​ $ (142.8) ​ $ 6.9 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Aggregate Principal ​ Reacquisition ​ (Gain) on ​ Accrued Interest (In millions, except for share data) ​ Repurchased ​ Cost ​ Extinguishment ​ Paid Second Lien Notes due 2026 ​ $ 118.3 ​ $ 68.3 ​ $ (75.0) ​ $ 4.5 6.125% Senior Subordinated Notes due 2027 ​ ​ 5.3 ​ ​ 1.6 ​ ​ (3.7) ​ ​ — Total debt repurchase transactions ​ $ 123.6 ​ $ 69.9 ​ $ (78.7) ​ $ 4.5
Schedule of extinguishment of debt	​ ​ ​ ​ ​ (In millions) ​ Amount Fair value of Exchangeable Notes due 2030 ​ $ 293.6 Fair value of Conversion Option ​ ​ 233.4 Fair value of New Term Loans due 2029 ​ ​ 104.2 PIK fee paid to Second Lien Lenders ​ ​ 2.3 Cash fee paid to Second Lien Lenders ​ ​ 2.3 Second Lien Notes consideration ​ ​ 635.8 ​ ​ ​ ​ Principal Second Lien Notes ​ ​ 518.6 Premium Second Lien Notes ​ ​ 56.0 Carrying value Second Lien Notes ​ ​ 574.6 ​ ​ ​ ​ Loss on extinguishment of Second Lien Notes ​ $ 61.2
Summary of debt validly tendered and accepted	Carrying value (in millions) as of December 31, 2024: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Carrying Value ​ ​ Additional ​ ​ ​ ​ Carrying Value ​ ​ at Issuance on ​ ​ Deferred ​ (Increase) Decrease to ​ as of ​ ​ July 22, 2024 ​ ​ Charges ​ Net Earnings (Loss) ​ December 31, 2024 Principal balance (1) ​ $ 414.4 ​ $ — ​ $ 13.2 ​ $ 427.6 Discount ​ ​ (120.8) ​ ​ — ​ ​ 2.9 ​ ​ (117.9) Debt issuance costs ​ ​ (23.2) ​ ​ (0.7) ​ ​ 0.6 ​ ​ (23.3) Accrued paid-in-kind interest ​ ​ — ​ ​ — ​ ​ 1.5 ​ ​ 1.5 Derivative liability ​ ​ 233.4 ​ ​ — ​ ​ (75.8) ​ ​ 157.6 Carrying value ​ $ 503.8 ​ $ (0.7) ​ $ (57.6) ​ $ 445.5 ​ (1) The change in principal balance is due to paid-in-kind interest.

STOCKHOLDERS' DEFICIT (Tables)

STOCKHOLDERS' DEFICIT (Tables)	12 Months Ended
	Dec. 31, 2024
STOCKHOLDERS' DEFICIT
Schedule of Stockholder's Deficit	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Common Stock ​ ​ AMC Preferred Equity Units ​ ​ ​ December 31, ​ ​ December 31, (In millions) ​ ​ 2024 2023 2022 ​ ​ 2024 2023 2022 Shares or units issued ​ ​ 75.5 88.0 - ​ ​ - 7.1 20.8 Gross proceeds ​ $ 261.8 675.5 - ​ $ - 114.5 228.8 Sales agent fees paid ​ ​ 6.4 16.9 - ​ ​ - 2.9 5.7 Other third-party issuance costs incurred ​ ​ 1.9 1.1 - ​ ​ - 8.8 5.5 Other third-party issuance costs paid ​ ​ 0.8 0.9 - ​ ​ - 11.7 2.7
Summary of stock based compensation	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended ​ ​ December 31, ​ December 31, ​ December 31, (In millions) ​ 2024 ​ 2023 ​ 2022 Equity classified awards: ​ ​ ​ ​ ​ ​ ​ ​ ​ Special awards expense ​ $ 2.1 ​ $ 20.2 ​ $ — Board of director stock award expense ​ ​ 1.0 ​ ​ 0.9 ​ ​ 0.8 Restricted stock unit expense ​ ​ 12.3 ​ ​ 14.3 ​ ​ 13.3 Performance stock unit expense ​ ​ 6.5 ​ ​ 6.7 ​ ​ 8.4 Total equity classified awards: ​ ​ 21.9 ​ ​ 42.1 ​ ​ 22.5 Liability classified awards: ​ ​ ​ ​ ​ ​ ​ ​ ​ Restricted and performance stock unit expense ​ ​ 0.1 ​ ​ 0.4 ​ ​ — Total liability classified awards: ​ ​ 0.1 ​ ​ 0.4 ​ ​ — Total stock-based compensation expense ​ $ 22.0 ​ $ 42.5 ​ $ 22.5 ​
Schedule of stock award granted	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended ​ ​ December 31, 2024 ​ December 31, 2023 ​ December 31, 2022 Common Stock ​ 202,392 ​ 8,560 ​ 4,165 AMC Preferred Equity Units ​ — ​ 15,376 ​ 4,165
Schedule of Nonvested RSU, PSU and SPSU Activity	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ Average ​ ​ Common Stock ​ Grant Date ​ ​ RSUs and PSUs (3) ​ Fair Value Beginning balance at January 1, 2022 ​ 1,568,452 ​ $ 39.60 Granted ​ 167,679 ​ ​ 97.50 Vested ​ (563,634) ​ ​ 35.90 Forfeited ​ (71,688) ​ ​ 58.60 Cancelled ​ (474,659) ​ ​ 35.90 Nonvested at January 1, 2023 ​ 626,150 ​ ​ 59.10 Granted ​ 517,067 ​ ​ 36.73 Granted - Special Award ​ 477,918 ​ ​ 42.25 Vested ​ (222,920) ​ ​ 57.43 Vested - Special Award ​ (257,945) ​ ​ 42.18 Forfeited ​ (22,119) ​ ​ 45.32 Cancelled ​ (150,755) ​ ​ 60.14 Cancelled - Special Award ​ (219,973) ​ ​ 42.34 Nonvested at January 1, 2024 ​ 747,423 ​ ​ 44.35 Granted ​ 3,604,916 ​ ​ 5.11 Granted - Special Award ​ 456,226 ​ ​ 4.42 Vested ​ (246,982) ​ ​ 43.84 Vested - Special Award ​ (242,360) ​ ​ 4.42 Forfeited ​ (1,228) ​ ​ 36.26 Cancelled ​ (228,015) ​ ​ 43.86 Cancelled - Special Award ​ (213,866) ​ ​ 4.42 Nonvested at December 31, 2024 ​ 3,876,114 ​ ​ 7.92 Tranche Years 2025 and 2026 awarded under the 2024 PSU award and Tranche Year 2025 awarded under the 2023 PSU award with grant date fair values to be determined in year 2025 and 2026, respectively ​ 1,653,656 ​ ​ ​ Total Nonvested at December 31, 2024 ​ 5,529,770 ​ ​ ​ (1) Represents vested RSUs and PSUs surrendered in lieu of taxes and cancelled awards returned. (2) The number of PSU shares granted and forfeited under the Tranche Year 2023 is based on attainment of performance targets at 98% for the Adjusted EBITDA target and 200% for the free cash flow target. (3) Includes AMC Preferred Equity Unit RSUs and PSUs that were subsequently converted to Common Stock RSUs and PSUs as a result of the Charter Amendments.

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2024
INCOME TAXES
Schedule of component of income tax provision reflected in the consolidated statements of operations	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended ​ (In millions) December 31, 2024 December 31, 2023 December 31, 2022 Current: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Federal ​ $ — ​ $ — ​ $ — ​ Foreign ​ 2.4 ​ 1.9 ​ 0.9 ​ State ​ (1.8) ​ 0.8 ​ (0.1) ​ Total current ​ 0.6 ​ 2.7 ​ 0.8 ​ Deferred: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Federal ​ 0.5 ​ 0.4 ​ 0.3 ​ Foreign ​ (0.3) ​ (0.2) ​ 0.7 ​ State ​ 1.3 ​ 0.5 ​ 0.7 ​ Total deferred ​ 1.5 ​ 0.7 ​ 1.7 ​ Total provision ​ $ 2.1 ​ $ 3.4 ​ $ 2.5 ​ ​
Schedule of Pre-tax losses	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended ​ (In millions) December 31, 2024 December 31, 2023 December 31, 2022 Domestic ​ $ (192.4) ​ $ (216.7) ​ $ (685.8) ​ Foreign ​ (158.1) ​ (176.5) ​ (285.3) ​ Total ​ $ (350.5) ​ $ (393.2) ​ $ (971.1) ​
Schedule of the difference between the effective tax rate on earnings (loss) from continuing operations before income taxes and the U.S. federal income tax statutory rate	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended ​ (In millions) December 31, 2024 December 31, 2023 December 31, 2022 Income tax benefit at the federal statutory rate ​ $ (73.6) ​ $ (82.5) ​ $ (203.9) ​ Effect of: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ State income taxes ​ (5.8) ​ (14.7) ​ (30.9) ​ Increase in reserve for uncertain tax positions ​ — ​ (0.2) ​ — ​ Federal and state credits ​ (1.5) ​ (1.3) ​ (2.5) ​ Permanent items — other ​ ​ 4.6 ​ ​ (17.6) ​ ​ 5.2 ​ Foreign rate differential ​ ​ (6.4) ​ ​ (3.6) ​ ​ (11.0) ​ Original issue discount ​ ​ — ​ ​ — ​ ​ (152.5) ​ Other ​ 0.3 ​ 1.2 ​ (14.2) ​ Valuation allowance ​ 84.5 ​ 122.1 ​ 412.3 ​ Income tax provision ​ $ 2.1 ​ $ 3.4 ​ $ 2.5 ​ Effective income tax rate ​ (0.6) % (0.9) % (0.3) %
Schedule of significant components of deferred income tax assets and liabilities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2024 ​ December 31, 2023 ​ ​ Deferred Income Tax ​ Deferred Income Tax (In millions) Assets Liabilities Assets Liabilities Tangible assets $ — $ (60.8) $ — $ (83.4) Right-of-use assets ​ ​ — ​ ​ (831.5) ​ ​ — ​ ​ (914.3) Accrued liabilities ​ 11.2 ​ — ​ 13.8 ​ — Intangible assets ​ — ​ (128.0) ​ — ​ (119.4) Receivables ​ 12.1 ​ — ​ 9.5 ​ — Investments ​ 44.4 ​ — ​ 48.0 ​ — Capital loss carryforwards ​ 4.6 ​ — ​ 5.4 ​ — Pension and deferred compensation ​ 15.5 ​ — ​ 22.7 ​ — Corporate borrowings ​ — ​ (52.8) ​ 41.9 ​ — Disallowed interest ​ ​ 663.2 ​ ​ — ​ ​ 515.0 ​ ​ — Deferred revenue ​ 163.2 ​ — ​ 163.4 ​ — Lease liabilities ​ 1,077.5 ​ — ​ 1,169.8 ​ — Finance lease obligations ​ — ​ — ​ 0.2 ​ — Other credit carryovers ​ 31.1 ​ — ​ 28.3 ​ — Net operating loss carryforwards ​ 727.9 ​ — ​ 708.0 ​ — Total ​ $ 2,750.7 ​ $ (1,073.1) ​ $ 2,726.0 ​ $ (1,117.1) Less: Valuation allowance ​ (1,711.5) ​ — ​ (1,641.3) ​ — Net deferred income taxes ​ $ 1,039.2 ​ $ (1,073.1) ​ $ 1,084.7 ​ $ (1,117.1)
Schedule of rollforward of the Company's valuation allowance for deferred tax assets	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Additions ​ Charged ​ ​ ​ ​ ​ Balance at ​ Charged ​ (Credited) ​ ​ ​ ​ Beginning of ​ to ​ to Other ​ Balance at (In millions) Period Expenses(1) Accounts(2) End of Period Calendar Year 2024 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Valuation allowance-deferred income tax assets ​ $ 1,641.3 ​ 84.5 ​ (14.3) ​ $ 1,711.5 Calendar Year 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Valuation allowance-deferred income tax assets ​ $ 1,513.0 ​ 122.1 ​ 6.2 ​ $ 1,641.3 Calendar Year 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Valuation allowance-deferred income tax assets ​ $ 1,114.1 ​ 412.3 ​ (13.4) ​ $ 1,513.0 (1) Primarily relates to the Company’s increase in the current year’s federal, state, and international net operating losses. (2) Primarily relates to amounts resulting from the Company’s changes in deferred tax assets and associated valuation allowance that are not related to income statement activity, as well as amounts charged to other comprehensive income.
Schedule of reconciliation of the change in the amount of unrecognized tax benefits	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended (In millions) December 31, 2024 December 31, 2023 December 31, 2022 Balance at beginning of period ​ $ 5.5 ​ $ 7.4 ​ $ 8.3 Gross decreases—expiration of statute of limitations ​ ​ — ​ ​ (1.9) ​ ​ (0.9) Balance at end of period ​ $ 5.5 ​ $ 5.5 ​ $ 7.4

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	12 Months Ended
	Dec. 31, 2024
FAIR VALUE MEASUREMENTS
Schedule of fair value hierarchy of financial assets carried at fair value on a recurring basis	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurements at December 31, 2024 Using ​ ​ ​ ​ ​ ​ ​ ​ Significant ​ Total Carrying Quoted prices in Significant other unobservable ​ ​ Value at ​ active market ​ observable inputs ​ inputs (In millions) ​ December 31, 2024 ​ (Level 1) ​ (Level 2) ​ (Level 3) Other long-term assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Investment in Hycroft warrants ​ $ 0.8 ​ $ — ​ $ — ​ $ 0.8 Marketable equity securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Investment in Hycroft ​ ​ 5.3 ​ ​ 5.3 ​ ​ — ​ ​ — Total assets at fair value ​ $ 6.1 ​ $ 5.3 ​ $ — ​ $ 0.8 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Corporate Borrowings: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivative liability ​ $ 157.6 ​ $ — ​ $ — ​ $ 157.6 Total liabilities at fair value ​ $ 157.6 ​ $ — ​ $ — ​ $ 157.6 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurements at December 31, 2023 Using ​ ​ ​ ​ ​ ​ ​ ​ Significant ​ Total Carrying Quoted prices in Significant other unobservable ​ ​ Value at ​ active market ​ observable inputs ​ inputs (In millions) ​ December 31, 2023 ​ (Level 1) ​ (Level 2) ​ (Level 3) Other long-term assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Investment in Hycroft warrants ​ $ 3.3 ​ $ — ​ $ — ​ $ 3.3 Marketable equity securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Investment in Hycroft ​ ​ 5.8 ​ ​ 5.8 ​ ​ — ​ ​ — Total assets at fair value ​ $ 9.1 ​ $ 5.8 ​ $ — ​ $ 3.3
Summary of fair value hierarchy of the Company's assets that were measured at fair value on a nonrecurring basis	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurements at December 31, 2024 Using ​ ​ ​ ​ ​ ​ Significant other Significant ​ ​ Total Carrying ​ Quoted prices in ​ observable ​ unobservable ​ Total ​ ​ Value at ​ active market ​ inputs ​ inputs ​ Impairment (In millions) December 31, 2024 (Level 1) (Level 2) (Level 3) Losses Property, net: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Property, net ​ $ 16.5 ​ $ — ​ $ — ​ $ 16.5 ​ $ 18.1 Operating lease right-of-use assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating lease right-of-use assets ​ ​ 45.6 ​ ​ — ​ ​ — ​ ​ 45.6 ​ ​ 54.2 Total ​ $ 62.1 ​ $ — ​ $ — ​ $ 62.1 ​ $ 72.3 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurements at December 31, 2023 Using ​ ​ ​ ​ ​ ​ Significant other Significant ​ ​ Total Carrying ​ Quoted prices in ​ observable ​ unobservable ​ Total ​ ​ Value at ​ active market ​ inputs ​ inputs ​ Impairment (In millions) December 31, 2023 (Level 1) (Level 2) (Level 3) Losses Property, net: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Property, net ​ $ 34.4 ​ $ — ​ $ — ​ $ 34.4 ​ $ 30.3 Operating lease right-of-use assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating lease right-of-use assets ​ ​ 93.5 ​ ​ — ​ ​ — ​ ​ 93.5 ​ ​ 76.6 Other long-term assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cost method investments (1) ​ ​ 10.3 ​ ​ — ​ ​ — ​ ​ 10.3 ​ ​ 1.0 Total ​ $ 138.2 ​ $ — ​ $ — ​ $ 138.2 ​ $ 107.9 (1) Impairment losses for cost method investments are recorded in investment expense (income). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurements at July 22, 2024 Using ​ ​ ​ ​ ​ ​ Significant other Significant ​ ​ Total Carrying ​ Quoted prices in ​ observable ​ unobservable ​ ​ ​ ​ Value at ​ active market ​ inputs ​ inputs ​ Total (In millions) July 22, 2024 (Level 1) (Level 2) (Level 3) Losses Corporate Borrowings: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Exchangeable Notes ​ $ 293.6 ​ $ — ​ $ 293.6 ​ $ — ​ $ —
Schedule of fair value of financial instruments not recognized at fair value for which it is practicable to estimate fair value	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurements at December 31, 2024 Using ​ ​ ​ ​ Significant other Significant ​ ​ Total Carrying ​ Quoted prices in ​ observable ​ unobservable ​ ​ Value at ​ active market ​ inputs ​ inputs (In millions) ​ December 31, 2024 ​ (Level 1) ​ (Level 2) ​ (Level 3) Current maturities of corporate borrowings ​ $ 64.2 ​ $ — ​ $ 65.0 ​ $ — Corporate borrowings ​ 3,853.3 ​ — ​ 3,866.3 ​ ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurements at December 31, 2023 Using ​ ​ ​ ​ ​ Significant other Significant ​ ​ Total Carrying ​ Quoted prices in ​ observable ​ unobservable ​ ​ Value at ​ active market ​ inputs ​ inputs (In millions) ​ December 31, 2023 ​ (Level 1) ​ (Level 2) ​ (Level 3) Current maturities of corporate borrowings ​ $ 25.1 ​ $ — ​ $ 21.5 ​ $ — Corporate borrowings ​ 4,552.3 ​ — ​ 3,674.7 ​ — ​

SEGMENT REPORTING (Tables)

SEGMENT REPORTING (Tables)	12 Months Ended
	Dec. 31, 2024
SEGMENT REPORTING
Reconciliation of Revenue from Segments to Consolidated	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended ​ ​ December 31, 2024 (In millions) ​ U.S. Markets ​ International Markets ​ Consolidated Revenues (1) ​ $ 3,544.2 ​ $ 1,093.0 ​ $ 4,637.2 Less: ​ ​ ​ ​ ​ ​ ​ ​ ​ Film exhibition costs ​ ​ 988.8 ​ ​ 250.4 ​ ​ 1,239.2 Food and beverage costs ​ 225.7 ​ 79.9 ​ 305.6 Operating expense, excluding depreciation and amortization (2) ​ 1,249.0 425.0 ​ 1,674.0 Rent ​ 649.9 ​ ​ 223.7 ​ 873.6 General and administrative expense - other, excluding depreciation and amortization (3) ​ ​ 130.6 ​ 74.2 ​ ​ 204.8 Other segment items (4) ​ (1.3) ​ ​ (2.6) ​ ​ (3.9) Adjusted EBITDA ​ $ 301.5 ​ $ 42.4 ​ $ 343.9 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended ​ ​ December 31, 2023 (In millions) ​ U.S. Markets ​ International Markets ​ Consolidated Revenues (1) ​ $ 3,688.7 ​ $ 1,123.9 ​ $ 4,812.6 Less: ​ ​ ​ ​ ​ ​ ​ ​ ​ Film exhibition costs ​ ​ 1,023.3 ​ ​ 267.8 ​ ​ 1,291.1 Food and beverage costs ​ 233.9 ​ 81.4 ​ 315.3 Operating expense, excluding depreciation and amortization (2) ​ 1,261.8 ​ 427.2 ​ 1,689.0 Rent ​ 651.5 ​ ​ 222.0 ​ ​ 873.5 General and administrative expense - other, excluding depreciation and amortization (3) ​ ​ 130.9 ​ 68.5 ​ ​ 199.4 Other segment items (4) ​ (3.8) ​ (6.2) ​ (10.0) Adjusted EBITDA ​ $ 391.1 ​ $ 63.2 ​ $ 454.3 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended ​ ​ December 31, 2022 (In millions) ​ U.S. Markets ​ International Markets ​ Consolidated Revenues (1) ​ $ 2,961.7 ​ $ 949.7 ​ $ 3,911.4 Less: ​ ​ ​ ​ ​ ​ ​ ​ ​ Film exhibition costs ​ ​ 831.4 ​ ​ 220.3 ​ ​ 1,051.7 Food and beverage costs ​ 165.1 ​ 63.5 ​ 228.6 Operating expense, excluding depreciation and amortization (2) ​ 1,101.9 ​ 418.5 ​ 1,520.4 Rent ​ 666.5 ​ ​ 219.7 ​ ​ 886.2 General and administrative expense - other, excluding depreciation and amortization (3) ​ ​ 122.1 ​ 62.9 ​ ​ 185.0 Other segment items (4) ​ (3.8) ​ (23.3) ​ (27.1) Adjusted EBITDA ​ $ 78.5 ​ $ (11.9) ​ $ 66.6 (1) All segment revenues are comprised of revenues from external customers. (2) Operating expense, excluding depreciation and amortization excludes certain operating expenses as further defined in the reconciliation of net loss to Adjusted EBITDA below. (3) General and administrative expense – other, excluding depreciation and amortization excludes stock compensation expense. (4) Other segment items include government assistance, business interruption insurance recoveries, net periodic pension cost (benefit), and attributable EBITDA from international theatre joint ventures.
Segment, Reconciliation of Other Items from Segments to Consolidated	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended ​ ​ December 31, 2024 (In millions) ​ U.S. Markets ​ International Markets ​ Consolidated Depreciation and amortization ​ $ 247.5 ​ $ 72.0 ​ $ 319.5 Income tax provision (benefit) ​ ​ — ​ ​ 2.1 ​ ​ 2.1 Other income ​ ​ (113.7) ​ ​ (30.1) ​ ​ (143.8) Other significant noncash items: ​ ​ ​ ​ ​ ​ ​ ​ ​ Stock-based compensation expense ​ ​ 20.0 ​ ​ 2.0 ​ ​ 22.0 Impairment of long-lived assets ​ ​ 51.9 ​ ​ 20.4 ​ ​ 72.3 Equity in earnings of non-consolidated entities ​ ​ (10.7) ​ ​ (1.7) ​ ​ (12.4) Capital expenditures ​ ​ 171.4 ​ ​ 74.1 ​ ​ 245.5 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended ​ ​ December 31, 2023 (In millions) ​ U.S. Markets ​ International Markets ​ Consolidated Depreciation and amortization ​ $ 286.5 ​ $ 78.5 ​ $ 365.0 Income tax provision ​ ​ 1.8 ​ ​ 1.6 ​ ​ 3.4 Other income ​ ​ (47.3) ​ ​ (21.8) ​ ​ (69.1) Other significant noncash items: ​ ​ ​ ​ ​ ​ ​ ​ ​ Stock-based compensation expense ​ ​ 38.3 ​ ​ 4.2 ​ ​ 42.5 Impairment of long-lived assets ​ ​ 49.2 ​ ​ 57.7 ​ ​ 106.9 Equity in earnings of non-consolidated entities ​ ​ (5.5) ​ ​ (2.2) ​ ​ (7.7) Capital expenditures ​ ​ 167.0 ​ ​ 58.6 ​ ​ 225.6 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended ​ ​ December 31, 2022 (In millions) ​ U.S. Markets ​ International Markets ​ Consolidated Depreciation and amortization ​ $ 312.2 ​ $ 83.8 ​ $ 396.0 Income tax provision ​ ​ 0.9 ​ ​ 1.6 ​ ​ 2.5 Other expense ​ ​ 52.0 ​ ​ 1.6 ​ ​ 53.6 Other significant noncash items: ​ ​ ​ ​ ​ ​ ​ ​ ​ Stock-based compensation expense ​ ​ 20.3 ​ ​ 2.2 ​ ​ 22.5 Impairment of long-lived assets ​ ​ 73.4 ​ ​ 59.7 ​ ​ 133.1 Equity in (earnings) loss of non-consolidated entities ​ ​ (4.3) ​ ​ 5.9 ​ ​ 1.6 Capital expenditures ​ ​ 138.4 ​ ​ 63.6 ​ ​ 202.0
Schedule of reconciliation of net earnings to Adjusted EBITDA	The following table sets forth a reconciliation of net loss to Adjusted EBITDA: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended (In millions) ​ December 31, 2024 December 31, 2023 ​ December 31, 2022 Net loss ​ $ (352.6) ​ $ (396.6) ​ $ (973.6) Plus: ​ ​ ​ ​ ​ ​ ​ ​ ​ Income tax provision ​ 2.1 ​ 3.4 ​ ​ 2.5 Interest expense ​ 443.7 ​ 411.2 ​ ​ 378.7 Depreciation and amortization ​ 319.5 ​ 365.0 ​ ​ 396.0 Impairment of long-lived assets ​ 72.3 ​ 106.9 ​ ​ 133.1 Certain operating expense ​ 5.4 ​ 2.5 ​ ​ 8.0 Equity in (earnings) loss of non-consolidated entities ​ (12.4) ​ (7.7) ​ ​ 1.6 Attributable EBITDA ​ ​ 1.9 ​ ​ 2.2 ​ ​ 0.4 Investment expense (income) ​ (16.3) ​ (15.5) ​ ​ 14.9 Other expense (income) ​ (141.8) ​ (61.3) ​ ​ 80.4 Merger, acquisition and other costs ​ 0.1 ​ 1.7 ​ ​ 2.1 Stock-based compensation expense ​ 22.0 ​ 42.5 ​ ​ 22.5 Adjusted EBITDA ​ $ 343.9 ​ $ 454.3 ​ $ 66.6 (1) For information regarding the income tax provision (benefit), see Note 10 — Income Taxes. (2) During the year ended December 31, 2024, the Company recorded non-cash impairment charges related to its long-lived assets of $51.9 million on 39 theatres in the U.S. markets with 469 screens which were related to property, net and operating lease right-of-use assets, net and $20.4 million on 23 theatres in the International markets with 188 screens which were related to property, net and operating lease right-of-use assets, net. During the year ended December 31, 2023, the Company recorded non-cash impairment charges related to its long-lived assets of $49.2 million on 68 theatres in the U.S. markets with 738 screens which were related to property, net and operating lease right-of-use assets, net and $57.7 million on 57 theatres in the International markets with 488 screens which were related to property, net and operating lease right-of-use assets, net. During the year ended December 31, 2022, the Company recorded non-cash impairment charges related to its long-lived assets of $73.4 million on 68 theatres in the U.S. markets with 817 screens which were related to property, net and operating lease right-of-use assets, net and $59.7 million on 53 theatres in the International markets with 456 screens which were related to property, net and operating lease right-of-use assets, net. (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, 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 primarily consisted of equity in (earnings) from AC JV of $(10.0) million during the year ended December 31, 2024. Equity in (earnings) loss of non-consolidated entities primarily consisted of equity in (earnings) from AC JV of $(4.9) million during the year ended December 31, 2023. Equity in (earnings) loss of non-consolidated entities primarily consisted of equity in loss from Saudi Cinema Company LLC of $7.6 million, partially offset by equity in (earnings) from DCIP of $(3.4) million during the year ended December 31, 2022. (5) 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. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended (In millions) ​ December 31, 2024 December 31, 2023 ​ December 31, 2022 Equity in (earnings) loss of non-consolidated entities ​ $ (12.4) ​ $ (7.7) ​ $ 1.6 Less: ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity in (earnings) of non-consolidated entities excluding International theatre joint ventures ​ ​ (11.5) ​ ​ (6.6) ​ ​ (5.4) Equity in earnings (loss) of International theatre joint ventures ​ ​ 0.9 ​ ​ 1.1 ​ ​ (7.0) Income tax provision ​ ​ — ​ ​ 0.1 ​ ​ 0.1 Investment expense (income) ​ ​ (0.4) ​ ​ (0.6) ​ ​ 0.2 Interest expense ​ ​ 0.1 ​ ​ 0.2 ​ ​ 0.1 Impairment of long-lived assets ​ ​ — ​ ​ — ​ ​ 4.2 Depreciation and amortization ​ ​ 1.3 ​ ​ 1.4 ​ ​ 2.8 Attributable EBITDA ​ $ 1.9 ​ $ 2.2 ​ $ 0.4 ​ (6) Investment expense (income) during the year ended December 31, 2024 includes interest income of $(19.2) million, partially offset by a decline in the estimated fair value of the Company’s investment in common shares of Hycroft of $0.4 million and a decline in the estimated fair value of the Company’s investment in warrants to purchase common shares of Hycroft of $2.5 million. Investment expense (income) during the year ended December 31, 2023 included a $(15.5) million gain on sale of the Company’s investment in Saudi Cinema Company LLC and interest income of $(15.3) million, partially offset by a decline in estimated fair value of investment in common shares of Hycroft of $6.6 million, a decline in the estimated fair value of the Company’s investment in warrants to purchase common shares of Hycroft of $6.0 million, $1.8 million of expense for NCM Common Units and $1.0 million impairment of a cost method investment. Investment expense (income) during the year ended December 31, 2022 included a decline in estimated fair value of investment in common shares of Hycroft of $12.5 million partially offset by $(6.2) million of appreciation in estimated fair value of the Company’s investment in warrants to purchase common shares of Hycroft, a $13.5 million loss on sale of the Company’s investment in NCM common units offset by interest income of $(5.9) million. (7) Other expense (income) during the year ended December 31, 2024 primarily consists of a decrease in fair value of the derivative liability for the embedded conversion feature in the Exchangeable Notes of $(75.8) million, shareholder litigation recoveries of $(40.2) million, net gains on debt extinguishment of $(38.9) million, and a vendor dispute of $(36.2) million, partially offset by term loan modification third party fees of $42.3 million and foreign currency transaction losses of $7.0 million. Other expense (income) for the year ended December 31, 2023 primarily consisted of gains on debt extinguishment of $(142.8) million and foreign currency transaction gains of $(17.8) million, partially offset by a non-cash litigation charge of $99.3 million. Other expense (income) for the year ended December 31, 2022 primarily consisted of a loss on debt extinguishment of $92.8 million, partially offset by income related to the foreign currency transaction gains of $(12.3) million and contingent lease guarantees of $(0.2) million. (8) Merger, acquisition and other costs are excluded as they are non-operating in nature. (9) Non-cash or non-recurring expense included in general and administrative: other.
Schedule of information about the Company's revenues from continuing operations and assets by geographic area	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended Revenues (In millions) ​ December 31, 2024 ​ December 31, 2023 ​ December 31, 2022 United States ​ $ 3,544.2 ​ $ 3,688.7 ​ $ 2,961.7 United Kingdom ​ ​ 408.8 ​ ​ 400.9 ​ ​ 379.3 Spain ​ ​ 143.3 ​ ​ 148.2 ​ ​ 114.6 Sweden ​ ​ 116.4 ​ ​ 124.9 ​ ​ 125.0 Italy ​ ​ 147.6 ​ ​ 151.9 ​ ​ 90.4 Germany ​ ​ 111.6 ​ ​ 125.8 ​ ​ 96.2 Finland ​ ​ 90.1 ​ ​ 97.9 ​ ​ 73.9 Ireland ​ ​ 32.5 ​ ​ 32.2 ​ ​ 27.3 Other foreign countries ​ ​ 42.7 ​ ​ 42.1 ​ ​ 43.0 Total revenues ​ $ 4,637.2 ​ $ 4,812.6 ​ $ 3,911.4 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of ​ As of Long-term assets, net (In millions) ​ December 31, 2024 ​ December 31, 2023 United States ​ $ 5,474.2 ​ $ 5,795.6 International ​ ​ 1,826.1 ​ ​ 2,010.5 Total long-term assets (1) ​ $ 7,300.3 ​ $ 7,806.1 (1) Long-term assets are comprised of property, operating lease right-of-use assets, intangible assets, goodwill, deferred tax assets, net and other long-term assets.

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)	12 Months Ended
	Dec. 31, 2024
ACCUMULATED OTHER COMPREHENSIVE LOSS
Schedule of change in accumulated other comprehensive income (loss)	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign ​ ​ ​ ​ (In millions) Currency Pension Benefits Total Balance December 31, 2022 ​ $ (78.8) ​ $ 1.5 ​ $ (77.3) Other comprehensive income (loss) ​ ​ 1.1 ​ ​ (2.0) ​ ​ (0.9) Balance December 31, 2023 ​ $ (77.7) ​ $ (0.5) ​ $ (78.2) Other comprehensive income (loss) ​ ​ (55.6) ​ ​ 1.8 ​ ​ (53.8) Balance December 31, 2024 ​ $ (133.3) ​ $ 1.3 ​ $ (132.0) ​
Schedule of tax effects allocated to each component of other comprehensive income (loss)	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended ​ ​ December 31, 2024 ​ December 31, 2023 ​ December 31, 2022 ​ ​ Tax ​ ​ Tax ​ ​ Tax ​ ​ ​ Pre-Tax ​ (Expense) ​ Net-of-Tax ​ Pre-Tax ​ (Expense) ​ Net-of-Tax ​ Pre-Tax ​ (Expense) ​ Net-of-Tax (In millions) ​ Amount ​ Benefit ​ Amount ​ Amount ​ Benefit ​ Amount ​ Amount ​ Benefit ​ Amount Unrealized foreign currency translation adjustment ​ $ (55.5) ​ $ (0.1) ​ $ (55.6) ​ $ 0.5 ​ $ 0.6 ​ $ 1.1 ​ $ (59.8) ​ $ — ​ $ (59.8) Pension and other benefit adjustments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net gain (loss) arising during the period, net of tax ​ ​ 1.8 ​ ​ — ​ ​ 1.8 ​ ​ (2.0) ​ ​ — ​ ​ (2.0) ​ ​ 10.6 ​ ​ — ​ ​ 10.6 Other comprehensive income (loss) ​ $ (53.7) ​ $ (0.1) ​ $ (53.8) ​ $ (1.5) ​ $ 0.6 ​ $ (0.9) ​ $ (49.2) ​ $ — ​ $ (49.2) ​

LOSS PER SHARE (Tables)

LOSS PER SHARE (Tables)	12 Months Ended
	Dec. 31, 2024
LOSS PER SHARE
Schedule of computation of basic and diluted earnings (loss) per common share	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended ​ Year Ended ​ Year Ended (In millions) December 31, 2024 December 31, 2023 December 31, 2022 Numerator: ​ ​ ​ ​ ​ ​ Net loss for basic and diluted loss per share ​ $ (352.6) ​ $ (396.6) ​ $ (973.6) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Denominator ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average shares for basic and diluted loss per common share ​ 332,920 ​ 167,644 ​ 104,769 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic and diluted loss per common share ​ $ (1.06) ​ $ (2.37) ​ $ (9.29)

THE COMPANY AND SIGNIFICANT A_4

THE COMPANY AND SIGNIFICANT ACCOUNTING POLICIES - Liquidity (Details)			12 Months Ended
	Aug. 24, 2023	Aug. 04, 2022 shares	Dec. 31, 2024
THE COMPANY AND SIGNIFICANT ACCOUNTING POLICIES
Common stock dividend declared		1
Stock split conversion ratio	0.1
Conversion ratio	0.1
Percentage of North American box office grosses			0.23

THE COMPANY AND SIGNIFICANT A_5

THE COMPANY AND SIGNIFICANT ACCOUNTING POLICIES - Segments (Details)	12 Months Ended
	Dec. 31, 2024 segment
THE COMPANY AND SIGNIFICANT ACCOUNTING POLICIES
Number of reportable segments	2

THE COMPANY AND SIGNIFICANT A_6

THE COMPANY AND SIGNIFICANT ACCOUNTING POLICIES - Revenues (Details) $ in Millions	12 Months Ended
	Dec. 31, 2024 USD ($) item	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Schedule of Equity Method Investments [Line Items]
Percentage of revenue related to sales of gift cards and packaged tickets deferred	100%
Period over which total amount of breakage for that current month's sales in proportion to the pattern of actual redemptions is recognized	24 months
Film Exhibition Costs
Film exhibition cost payable	$ 143.9	$ 130.9
Advertising Costs
Advertising Expense	22.2	43.6	$ 28
Cash and Equivalents
Cash and cash equivalents	632.3	884.3	$ 631.5
U.S. Markets
Cash and Equivalents
Cash and cash equivalents	$ 513	752.3
U.S. Markets | Revenues | Customer concentration risk
Film Exhibition Costs
Number of movie studio distributors | item	7
Concentration risk percentage	84%
Europe | Revenues | Customer concentration risk
Film Exhibition Costs
Number of movie studio distributors | item	5
Concentration risk percentage	74%
International markets
Cash and Equivalents
Cash and cash equivalents	$ 119.3	$ 132
Minimum
Schedule of Equity Method Investments [Line Items]
Non-redemption rate	13%
Minimum | NCM
Exhibitor Services Agreement
Percentage change in the total annual attendance of all the founding members required to cause an earlier common unit adjustment	2%
Maximum
Schedule of Equity Method Investments [Line Items]
Non-redemption rate	19%

THE COMPANY AND SIGNIFICANT A_7

THE COMPANY AND SIGNIFICANT ACCOUNTING POLICIES - Restricted Cash (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Restricted Cash
Cash and cash equivalents	$ 632.3	$ 884.3	$ 631.5
Restricted cash	48.5	27.1	22.9
Total cash and cash equivalents and restricted cash in the statement of cash flows	680.8	911.4	$ 654.4	$ 1,620.3
U.S. Markets
Restricted Cash
Cash and cash equivalents	513	752.3
Restricted cash	20.7	0
International markets
Restricted Cash
Cash and cash equivalents	119.3	132
Restricted cash	$ 27.8	$ 27.1

THE COMPANY AND SIGNIFICANT A_8

THE COMPANY AND SIGNIFICANT ACCOUNTING POLICIES - Investments, Goodwill, Other Long-term Assets, Payables, Leases (Details) $ in Millions	12 Months Ended
	Dec. 31, 2024 USD ($) item	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Investments
Impairment of indefinite-lived intangible assets	$ 0	$ 0	$ 0
Number of reporting units | item	2
Gain on derivative liability	$ (75.8)
Goodwill	2,301.1	2,358.7	2,342
Capitalized computer software amortization	23.3	25.4	34.4
Accounts payable related to checks issued but not yet presented to bank	0.1	3
U.S. Markets
Investments
Goodwill	1,796.5	1,796.5	1,796.5
International Markets
Investments
Goodwill	$ 504.6	$ 562.2	$ 545.5
SV Holdco LLC, owner of Screen vision
Investments
Ownership Interest	18.40%
Digital Cinema Media Ltd. ("DCM")
Investments
Ownership Interest	50%
AC JV
Investments
Ownership Interest	32%
Digital Cinema Distribution Coalition, LLC ("DCDC")
Investments
Ownership Interest	14.60%

THE COMPANY AND SIGNIFICANT A_9

THE COMPANY AND SIGNIFICANT ACCOUNTING POLICIES - Impairment of assets (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
THE COMPANY AND SIGNIFICANT ACCOUNTING POLICIES
Impairment of long-lived assets	$ 72.3	$ 106.9	$ 133.1
Impairment Long Lived Asset Held For Use Statement Of Income Or Comprehensive Income Extensible Enumeration Not Disclosed Flag	false	false	false
Impairment of cost method investments recorded in investment expense (income)		$ 1
Total Impairment loss	$ 72.3	$ 107.9	$ 133.1

THE COMPANY AND SIGNIFICANT _10

THE COMPANY AND SIGNIFICANT ACCOUNTING POLICIES - Impairment narratives (Details) $ in Millions	12 Months Ended
	Dec. 31, 2024 USD ($) item	Dec. 31, 2023 USD ($) item	Dec. 31, 2022 USD ($) item
Impairment losses
Impairment of long-lived assets | $	$ 72.3	$ 106.9	$ 133.1
Impairment of cost method investments recorded in investment expense (income) | $		1
Impairment of indefinite-lived intangible assets | $	0	0	0
U. S. markets
Impairment losses
Impairment of long-lived assets | $	$ 51.9	$ 49.2	$ 73.4
Tangible asset impairment, number of theatres	39	68	68
Tangible asset impairment, number of screens	469	738	817
International markets
Impairment losses
Impairment of long-lived assets | $	$ 20.4	$ 57.7	$ 59.7
Tangible asset impairment, number of theatres	23	57	53
Tangible asset impairment, number of screens	188	488	456
U.S. Markets
Impairment losses
Impairment of long-lived assets | $	$ 51.9	$ 49.2	$ 73.4
Tangible asset impairment, number of theatres	39	68	68
Tangible asset impairment, number of screens	469	738	817
International Markets
Impairment losses
Impairment of long-lived assets | $	$ 20.4	$ 57.7	$ 59.7
Tangible asset impairment, number of theatres	23	57	53
Tangible asset impairment, number of screens	188	488	456

THE COMPANY AND SIGNIFICANT _11

THE COMPANY AND SIGNIFICANT ACCOUNTING POLICIES - Employee benefit Plan (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2025
Net periodic benefit cost
Net periodic benefit cost	$ 1.8	$ 1.4	$ (0.6)
Expenses under defined contribution plan	10.5	9.8	$ 9
U.S. Pension Benefits
Pension plans with accumulated benefit obligations and projected benefit obligations in excess of plan assets
Aggregated projected benefit obligation at end of period	(73.8)	(79.3)
Aggregated fair value of plan assets at end of period	59.5	58.3
Net liability for benefit cost - funded status	(14.3)	(21)
Aggregated accumulated benefit obligation	$ 73.8	$ 79.3
Contribution to pension plan				$ 2.4
Weighted-average assumptions used to determine net periodic benefit cost
Discount rate (as a percent)	4.76%	4.97%	2.66%
Weighted average expected long-term return on plan assets (as a percent)	6.56%	6.56%	6.56%
Benefits expected to be paid
2025	$ 4.7
2026	4.8
2027	4.9
2028	5.3
2029	5.5
Years 2030 - 2034	27.9
Net periodic benefit cost
Net periodic benefit cost	1.8	$ 1.4	$ (0.6)
International Pension Benefits
Pension plans with accumulated benefit obligations and projected benefit obligations in excess of plan assets
Aggregated projected benefit obligation at end of period	(63.7)	(71.9)
Aggregated fair value of plan assets at end of period	66.6	76.7
Net liability for benefit cost - funded status	2.9	4.8
Aggregated accumulated benefit obligation	$ 63.7	$ 71.9
Weighted-average assumptions used to determine benefit obligations
Rate of compensation increase (as a percent)	2.07%	2.19%	2.28%
Weighted-average assumptions used to determine net periodic benefit cost
Discount rate (as a percent)	4.53%	4.82%	1.79%
Weighted average expected long-term return on plan assets (as a percent)	4.34%	4.32%	1.57%
Rate of compensation increase (as a percent)	2.07%	2.19%	2.28%
Benefits expected to be paid
2025	$ 3.9
2026	4
2027	4.1
2028	4.3
2029	4.4
Years 2030 - 2034	$ 24.1
Pension Plan [Member] | U.S. Pension Benefits
Weighted-average assumptions used to determine benefit obligations
Discount rate (as a percent)	5.43%	4.76%
Pension Plan [Member] | International Pension Benefits
Weighted-average assumptions used to determine benefit obligations
Discount rate (as a percent)	5.18%	4.53%
Rate of compensation increase (as a percent)	2.22%	2.07%
Weighted-average assumptions used to determine net periodic benefit cost
Rate of compensation increase (as a percent)	2.22%	2.07%

THE COMPANY AND SIGNIFICANT _12

THE COMPANY AND SIGNIFICANT ACCOUNTING POLICIES - Pension plan (Details)	Dec. 31, 2024
Cash and Cash Equivalents | Quoted prices in active market (Level 1)
Employee benefit plan disclosures
Valuation percentage of plan assets	12%
Mutual Funds | Significant other observable inputs (Level 2)
Employee benefit plan disclosures
Valuation percentage of plan assets	22%
U.S. Pension Benefits | Significant other observable inputs (Level 2)
Employee benefit plan disclosures
Valuation percentage of plan assets	6%
U.S. Pension Benefits | Equity Securities - U.S.
Employee benefit plan disclosures
Target Allocation (as a percent)	36%
U.S. Pension Benefits | Bond market fund
Employee benefit plan disclosures
Target Allocation (as a percent)	60%
U.S. Pension Benefits | Private Real Estate
Employee benefit plan disclosures
Target Allocation (as a percent)	4%
U.S. Pension Benefits | Investments at net Asset value
Employee benefit plan disclosures
Valuation percentage of plan assets	94%
International Pension Benefits | Investments at net Asset value
Employee benefit plan disclosures
Valuation percentage of plan assets	66%

THE COMPANY AND SIGNIFICANT _13

THE COMPANY AND SIGNIFICANT ACCOUNTING POLICIES - Casualty Insurance (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Casualty Insurance
Self-insured amount for general liability per occurrence	$ 1
Deductible limit per occurrence for workers compensation claims	0.5
Casualty insurance reserves, net of estimated insurance recoveries	25.7	$ 22.8
Expenses related to general liability and workers compensation claims	$ 65.5	$ 53.1	$ 49.8

THE COMPANY AND SIGNIFICANT _14

THE COMPANY AND SIGNIFICANT ACCOUNTING POLICIES - Government Assistance (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
THE COMPANY AND SIGNIFICANT ACCOUNTING POLICIES
Government Assistance Amount	$ 0.1	$ 4.8	$ 25.8
Government Assistance, Nonoperating Income, Increase (Decrease), Statement of Income or Comprehensive Income [Extensible Enumeration]	Other Nonoperating Income (Expense)	Other Nonoperating Income (Expense)	Other Nonoperating Income (Expense)
Government assistance as reduction to property, net	$ 4.5	$ 3.2	$ 1.9
Tax credits	$ 9.7	$ 10

THE COMPANY AND SIGNIFICANT _15

THE COMPANY AND SIGNIFICANT ACCOUNTING POLICIES - Other Expense (Income) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Other Expense (Income):
(Gain) loss on extinguishment of debt	$ (38.9)	$ (142.8)	$ 92.8
Term Loan modification - third party fees	42.3
Derivative liability fair value decrease for embedded conversion feature in the Exchangeable Notes due 2030	(75.8)
Equity in earnings of non-consolidated entities	(12.4)	(7.7)	$ 1.6
Derivative stockholder settlement		$ (14)
Vendor dispute settlement	(36.2)
Other settlement proceeds	$ (3.6)
Gain on Business Interruption Insurance Recovery, Statement of Income or Comprehensive Income [Extensible Enumeration]	Total other income	Total other income	Total other income
Total other income	$ (156.2)	$ (76.8)	$ 55.2
Business interruption insurance recoveries	(0.1)	(1.3)	(0.3)
Other expense
Other Expense (Income):
Foreign currency transaction (gains) losses	7	(17.8)	(12.3)
Non-operating components of net periodic benefit cost	1.8	1.4	(0.6)
Financing fees related to modification of debt agreements	(40.2)	110.2
Decreases related to contingent lease guarantees			(0.2)
Governmental assistance - International markets	(0.1)	(3.8)	(23)
Governmental assistance - U.S. markets		(1)	(2.8)
Other expense | Senior Subordinated Notes due 2025
Other Expense (Income):
(Gain) loss on extinguishment of debt	2.7
Other expense | Senior Subordinated Notes due 2026
Other Expense (Income):
(Gain) loss on extinguishment of debt	(1.3)	(2.3)
Other expense | Senior Subordinated Notes due 2027
Other Expense (Income):
(Gain) loss on extinguishment of debt			(3.7)
Other expense | Second Lien Notes
Other Expense (Income):
(Gain) loss on extinguishment of debt	$ (40.3)	$ (140.5)	(75)
Other expense | Odeon Term Loan Facility
Other Expense (Income):
(Gain) loss on extinguishment of debt			36.5
Other expense | First Lien Toggle Notes due 2026
Other Expense (Income):
(Gain) loss on extinguishment of debt			32.9
Other expense | First Lien Notes due 2025
Other Expense (Income):
(Gain) loss on extinguishment of debt			47.7
Other expense | First Lien Notes due 2026
Other Expense (Income):
(Gain) loss on extinguishment of debt			$ 54.4

REVENUE RECOGNITION - Disaggreg

REVENUE RECOGNITION - Disaggregation of revenue (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Disaggregation of Revenue [Line Items]
Revenues	$ 4,637.2	$ 4,812.6	$ 3,911.4
Products and services transferred at a point in time
Disaggregation of Revenue [Line Items]
Revenues	4,224.7	4,424.1	3,579.9
Products and services transferred over time
Disaggregation of Revenue [Line Items]
Revenues	412.5	388.5	331.5
Admissions
Disaggregation of Revenue [Line Items]
Revenues	2,560.5	2,690.5	2,201.4
Food and beverage
Disaggregation of Revenue [Line Items]
Revenues	1,624.9	1,669.8	1,313.7
Other theatre
Disaggregation of Revenue [Line Items]
Revenues	451.8	452.3	396.3
Screen advertising
Disaggregation of Revenue [Line Items]
Revenues	132.9	129.5	122.7
Other
Disaggregation of Revenue [Line Items]
Revenues	$ 318.9	$ 322.8	$ 273.6

REVENUE RECOGNITION - Receivabl

REVENUE RECOGNITION - Receivables and deferred revenue (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Current assets
Receivables related to contracts with customers	$ 86	$ 113.5
Miscellaneous receivables	82.1	90.2
Receivables, net	168.1	203.7
Current liabilities
Deferred revenue related to contracts with customers	425.6	415.3	$ 398.8
Miscellaneous deferred income	6.8	6.5
Deferred revenues and income	$ 432.4	$ 421.8

REVENUE RECOGNITION - Changes i

REVENUE RECOGNITION - Changes in liabilities (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Apr. 11, 2023
Deferred revenues related to contracts with customers
Beginning balance	$ 415.3	$ 398.8
Cash received in advance	354.1	331.7
Foreign currency translation adjustment	(0.2)	(2.3)
Ending balance	425.6	415.3
National CineMedia Inc.
Deferred revenues related to contracts with customers
Number of common unit issuance			16,581,829
Exhibitor Services Agreement
Deferred revenues related to contracts with customers
Beginning balance	486.6	505.8
Reclassification of the beginning balance to other theatre revenue, as the result of performance obligations satisfied	(22.6)	(19.2)
Ending balance	$ 464	486.6
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	$ 22.6	22.3
Reclassification of the beginning balance to other theatre revenue, as the result of performance obligations satisfied	(254.1)	(237.5)
Food and beverage
Deferred revenues related to contracts with customers
Customer loyalty awards accumulated, net of expirations	39.5	37.8
Reclassification of the beginning balance to other theatre revenue, as the result of performance obligations satisfied	(75.8)	(70.1)
Other theatre
Deferred revenues related to contracts with customers
Customer loyalty awards accumulated, net of expirations	(2.6)	(1.3)
Reclassification of the beginning balance to other theatre revenue, as the result of performance obligations satisfied	$ (73.2)	$ (64.1)

REVENUE RECOGNITION - Transacti

REVENUE RECOGNITION - Transaction price allocated to the remaining performance obligations (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Disaggregation of Revenue [Line Items]
Deferred revenues and income	$ 432.4	$ 421.8
Gift Card And Ticket Exchange
Disaggregation of Revenue [Line Items]
Deferred revenues and income	$ 327.9
Redemption period	24 months
Loyalty Program
Disaggregation of Revenue [Line Items]
Deferred revenues and income	$ 79.3
Redemption period	24 months
Exhibitor Services Agreement
Disaggregation of Revenue [Line Items]
Expected to be recognized as revenue	$ 464
Exhibitor Services Agreement | Year ended 2025
Disaggregation of Revenue [Line Items]
Expected to be recognized as revenue	24.4
Exhibitor Services Agreement | Year Ended 2026
Disaggregation of Revenue [Line Items]
Expected to be recognized as revenue	26.2
Exhibitor Services Agreement | Year Ended 2027
Disaggregation of Revenue [Line Items]
Expected to be recognized as revenue	28.2
Exhibitor Services Agreement | Year Ended 2028
Disaggregation of Revenue [Line Items]
Expected to be recognized as revenue	30.4
Exhibitor Services Agreement | Year Ended 2029
Disaggregation of Revenue [Line Items]
Expected to be recognized as revenue	32.8
Exhibitor Services Agreement | Years ended 2030 through February 2037
Disaggregation of Revenue [Line Items]
Expected to be recognized as revenue	$ 322

LEASES - Lease costs (Details)

LEASES - Lease costs (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Leases:
Interest expense on lease liabilities	$ 5.4	$ 3.7	$ 4.1
Total lease cost	989.2	967.4	972.2
Depreciation and amortization
Leases:
Amortization of finance lease assets	2.7	2	2.6
Finance lease obligations
Leases:
Interest expense on lease liabilities	3.4	3.7	4.1
Theatre | Rent
Leases:
Operating lease cost	775.3	788.1	812
Variable lease cost	98.3	85.4	74.2
Theatre | Operating expense
Leases:
Operating lease cost	5.6	2	5.4
Theatre | Finance lease obligations
Leases:
Variable lease cost	2
Equipment | Operating expense
Leases:
Operating lease cost	31.1	17.5	8.6
Variable lease cost	65.4	63.3	60
Office and other | General and administrative: other
Leases:
Operating lease cost	$ 5.4	$ 5.4	$ 5.3

LEASES - Weighted Average lease

LEASES - Weighted Average lease terms and discount rates (Details)	Dec. 31, 2024
LEASES
Operating leases, Weighted Average Remaining Lease Term (years)	8 years 1 month 6 days
Finance leases, Weighted Average Remaining Lease Term (years)	13 years 2 months 12 days
Operating leases, Weighted Average Discount Rate	10.70%
Finance leases, Weighted Average Discount Rate	6.40%

LEASES - Cash flow and suppleme

LEASES - Cash flow and supplemental information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows used in finance leases	$ (3.4)	$ (3.7)	$ (3.8)
Operating cash flows used in operating leases	(925.1)	(986.4)	(1,032.4)
Financing cash flows used in finance leases	(4.6)	(5.6)	(9.4)
Landlord contributions:
Operating cash flows provided by operating leases	31.8	23.9	19.9
Supplemental disclosure of noncash leasing activities:
Right-of-use assets obtained in exchange for new operating lease liabilities	196.3	$ 214.1	$ 277.3
Right-of-use assets obtained in exchange for new finance lease liabilities	$ 2.6

LEASES - Minimum annual payment

LEASES - Minimum annual payments under leases (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Operating Lease Payments
2025	$ 911.2
2026	858.3
2027	796.2
2028	709.6
2029	604.8
Thereafter	2,295.6
Total lease payments	6,175.7
Less imputed interest	(2,023.2)
Total operating and finance lease liabilities, respectively	4,152.5
Financing Lease Payments
2025	7.4
2026	7.5
2027	7.4
2028	7.4
2029	7.3
Thereafter	38
Total lease payments	75
Less imputed interest	(25.7)
Total operating and finance lease liabilities, respectively	$ 49.3	$ 55.4

LEASES - Future lease agreement

LEASES - Future lease agreements (Details) $ in Millions	12 Months Ended
	Dec. 31, 2024 USD ($) item	Dec. 31, 2023 USD ($) item
Number of theatres	4
Signed lease agreements | $	$ 107.3
Future Lease Commitments
Number of theatres	6
Lease buyout incentive | $		$ 13
Lease, right to terminate by landlord, number of theatre		1
Minimum | Future Lease Commitments
Lease term	10 years
Maximum | Future Lease Commitments
Lease term	20 years

PROPERTY (Details)

PROPERTY (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
PROPERTY
Property owned, gross	$ 4,673	$ 4,613.7
Less: accumulated depreciation	3,265.1	3,091.7
Property owned, net	1,407.9	1,522
Less: accumulated depreciation and amortization	23	18.1
Property leased under finance leases, net	34.4	38.4
Property including property leased under finance leases, net	1,442.3	1,560.4
Depreciation expense	295.4	337.5	$ 359
Land
PROPERTY
Property owned, gross	62.3	62.6
Buildings and improvements
PROPERTY
Property owned, gross	205.5	205.8
Property leased under finance leases, gross	$ 57.4	56.5
Buildings and improvements | Minimum
PROPERTY
Estimated useful lives	1 year
Buildings and improvements | Maximum
PROPERTY
Estimated useful lives	40 years
Leasehold improvements
PROPERTY
Property owned, gross	$ 2,018.6	1,958.3
Leasehold improvements | Minimum
PROPERTY
Estimated useful lives	1 year
Leasehold improvements | Maximum
PROPERTY
Estimated useful lives	20 years
Furniture, fixtures and equipment
PROPERTY
Property owned, gross	$ 2,386.6	$ 2,387
Furniture, fixtures and equipment | Minimum
PROPERTY
Estimated useful lives	1 year
Furniture, fixtures and equipment | Maximum
PROPERTY
Estimated useful lives	15 years

GOODWILL AND INTANGIBLE ASSET_2

GOODWILL AND INTANGIBLE ASSETS (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Activity of goodwill
Gross Carrying Amount, Balance at the beginning of the period	$ 4,662.1	$ 4,594.4
Accumulated Impairment Losses, Balance at the beginning of the period	(2,303.4)	(2,252.4)
Net Carrying Amount, Balance at the beginning of the period	2,358.7	2,342
Gross Carrying Amount, Currency translation adjustment	(72.5)	67.7
Accumulated Impairment Losses, Currency translation adjustment	14.9	(51)
Net Carrying Amount, Currency translation adjustment	(57.6)	16.7
Gross Carrying Amount, Balance at the end of the period	4,589.6	4,662.1
Accumulated Impairment Losses, Balance at the end of the period	(2,288.5)	(2,303.4)
Net Carrying Amount, Balance at the end of the period	2,301.1	2,358.7
U.S. Markets
Activity of goodwill
Gross Carrying Amount, Balance at the beginning of the period	3,072.6	3,072.6
Accumulated Impairment Losses, Balance at the beginning of the period	(1,276.1)	(1,276.1)
Net Carrying Amount, Balance at the beginning of the period	1,796.5	1,796.5
Gross Carrying Amount, Balance at the end of the period	3,072.6	3,072.6
Accumulated Impairment Losses, Balance at the end of the period	(1,276.1)	(1,276.1)
Net Carrying Amount, Balance at the end of the period	1,796.5	1,796.5
International Markets
Activity of goodwill
Gross Carrying Amount, Balance at the beginning of the period	1,589.5	1,521.8
Accumulated Impairment Losses, Balance at the beginning of the period	(1,027.3)	(976.3)
Net Carrying Amount, Balance at the beginning of the period	562.2	545.5
Gross Carrying Amount, Currency translation adjustment	(72.5)	67.7
Accumulated Impairment Losses, Currency translation adjustment	14.9	(51)
Net Carrying Amount, Currency translation adjustment	(57.6)	16.7
Gross Carrying Amount, Balance at the end of the period	1,517	1,589.5
Accumulated Impairment Losses, Balance at the end of the period	(1,012.4)	(1,027.3)
Net Carrying Amount, Balance at the end of the period	$ 504.6	$ 562.2

GOODWILL AND INTANGIBLE ASSET_3

GOODWILL AND INTANGIBLE ASSETS - Additional information of intangible assets acquired (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Amortizable Intangible Assets:
Gross Carrying Amount	$ 9.6	$ 9.6
Accumulated Amortization	(8.2)	(7.3)
Non-amortizing Intangible Assets:
Total, unamortizable	142.9	144.4
Management contracts
Amortizable Intangible Assets:
Gross Carrying Amount	1.7	1.7
Accumulated Amortization	$ (1.6)	(1.6)
Management contracts | Minimum
Amortizable Intangible Assets:
Remaining Useful Life	1 year
AMCE
Non-amortizing Intangible Assets:
Trade names	$ 104.4	104.4
Odeon
Non-amortizing Intangible Assets:
Trade names	36	37.3
Nordic
Non-amortizing Intangible Assets:
Trade names	$ 2.5	2.7
Starplex Cinemas | Loews' trade name
Amortizable Intangible Assets:
Remaining Useful Life	2 years
Gross Carrying Amount	$ 7.9	7.9
Accumulated Amortization	$ (6.6)	$ (5.7)

GOODWILL AND INTANGIBLE ASSET_4

GOODWILL AND INTANGIBLE ASSETS - Amortization (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
GOODWILL AND INTANGIBLE ASSETS
Recorded amortization	$ 0.8	$ 2.1	$ 2.6

INVESTMENTS (Details)

INVESTMENTS (Details) $ / shares in Units, ر.س in Millions, $ in Millions						1 Months Ended	12 Months Ended
	Nov. 15, 2023	Aug. 24, 2023	Dec. 30, 2022 USD ($)	Dec. 30, 2022 SAR (ر.س)	Mar. 14, 2022 $ / shares shares	Mar. 31, 2022 USD ($) shares	Dec. 31, 2024 USD ($) item	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Investments
Gain on investment sold								$ 15.5
Number of theatres | item							4
Equity in earnings of non-consolidated entities							$ 12.4	7.7	$ (1.6)
Equity Method Investments Ownership Transactions [Abstract]
Stock split conversion ratio		0.1
Unrealized loss (gain) on investments							$ (3)	(12.6)	(6.3)
Europe
Investments
Number of theatres | item							61
Investment in Hycroft Mining Holding Corporation Warrants
Equity Method Investments Ownership Transactions [Abstract]
Number of shares to be received for each unit | shares					1
Price per share (in dollars per share) | $ / shares					$ 10.68
Term					5 years
Hycroft
Equity Method Investments Ownership Transactions [Abstract]
Number of shares purchased | shares					2,300,000
Stock split conversion ratio	0.10				1
Number of shares to be received for each unit | shares					1
Hycroft | Investment expense (income)
Equity Method Investments Ownership Transactions [Abstract]
Unrealized loss (gain) on investments							$ 3	12.6	6.3
NCM
Investments
Common units returned under Common Unit Adjustment Agreement | shares						5,954,646
Value of common units returned under Unit Adjustment agreement						$ 15
Realized loss on investment									13.5
Equity Method Investments Ownership Transactions [Abstract]
Value of stock sold									1.5
DCIP
Investments
Equity in earnings of non-consolidated entities									3.4
Non consolidated investee | Maximum
Investments
Ownership Interest							50%
Saudi Cinema Company
Investments
Percentage of equity method investment sold			10%	10%
Equity method investment, amount sold			$ 30	ر.س 112.5
Gain on investment sold								15.5
Equity in earnings of non-consolidated entities									$ (7.6)
Digital Cinema Distribution Coalition, LLC ("DCDC")
Investments
Ownership Interest							14.60%
AC JV
Investments
Ownership Interest							32%
Equity in earnings of non-consolidated entities							$ 10	$ 4.9
SV Holdco LLC, owner of Screen vision
Investments
Ownership Interest							18.40%
Digital Cinema Media Ltd. ("DCM")
Investments
Ownership Interest							50%
Handelsbolaget Svenska Bio Lidingo
Investments
Ownership Interest							50%
Bergen Kino AS
Investments
Ownership Interest							49%
Odeon Kino Stavanger/ Sandnes AS
Investments
Ownership Interest							49%
CAPA Kinoreklame AS ("CAPA")
Investments
Ownership Interest							50%
Vasteras Biografer
Investments
Ownership Interest							50%
U.S. Motion pictures theatres
Investments
Number of theatres | item							4
Theatre | Europe
Investments
Number of theatres | item							61

INVESTMENTS - Summary Financial

INVESTMENTS - Summary Financial Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Investments
Current assets	$ 947.2	$ 1,203.1
Total assets	8,247.5	9,009.2
Current liabilities	1,744.8	1,632.4
Total liabilities	10,008	10,857.1
Stockholders' deficit	(1,760.5)	(1,847.9)
Liabilities and stockholders' deficit	8,247.5	9,009.2
The Company's recorded investment	53.6	56.4
Revenues	4,637.2	4,812.6	$ 3,911.4
Operating costs and expenses	4,716.5	4,886.9	4,433.7
Investments in Non-Consolidated Affiliates
Investments
The Company's recorded investment	53.6	56.4
Equity Method Investment, Nonconsolidated Investee(s)
Investments
Current assets	230.8	263.8
Noncurrent assets	199	224.7
Total assets	429.8	488.5
Current liabilities	280.4	130.9
Noncurrent liabilities	231.5	385
Total liabilities	511.9	515.9
Stockholders' deficit	(82.1)	(27.4)
Liabilities and stockholders' deficit	429.8	488.5
Revenues	473.5	425.6	412.8
Operating costs and expenses	489.9	449.9	498.2
Net loss	$ (16.4)	$ (24.3)	$ (85.4)

INVESTMENTS - Related Party Tra

INVESTMENTS - Related Party Transactions (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Digital Cinema Media Ltd. ("DCM")
Related Party Transactions
Loan receivable from related party	$ 0.6	$ 0.6
Digital Cinema Media Ltd. ("DCM") | Other revenues
Related Party Transactions
Screen advertising revenues	17.8	18.8	$ 17
Digital Cinema Media Ltd. ("DCM") | On-screen advertising revenue
Related Party Transactions
Amounts due from related parties	3.9	3.3
Digital Cinema Distribution Coalition, LLC ("DCDC") | Operating expense
Related Party Transactions
Content delivery services	1.3	1.4	1
AC JV | Film exhibition costs
Related Party Transactions
Gross exhibition cost	29.6	17.5	11.6
AC JV | Fathom Events programming
Related Party Transactions
Amount due to related parties	(1.5)	(2.3)
CAPA Kinoreklame AS ("CAPA") | Other revenues
Related Party Transactions
Screen advertising revenues	1.6	1.1	2.4
CAPA Kinoreklame AS ("CAPA") | On-screen advertising revenue
Related Party Transactions
Amounts due from related parties	1.4	1.4
Vasteras Biografer
Related Party Transactions
Loan receivable from related party	0.8	1
Amount due to related parties	(0.6)	(0.9)
Screenvision | Other revenues
Related Party Transactions
Screen advertising revenues	7.3	8.7	$ 6.9
U.S. theatres and IMAX screen | Theatre partnerships
Related Party Transactions
Amount due to related parties	$ (0.7)	$ (0.6)

SUPPLEMENTAL BALANCE SHEET IN_3

SUPPLEMENTAL BALANCE SHEET INFORMATION (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Other current assets:
Income taxes receivable	$ 1.4	$ 1.5
Prepaids	36	32.5
Merchandise inventory	51.2	39.5
Other	9.7	14.5
Other current assets, total	98.3	88
Other long-term assets:
Investments in real estate	3.5	3.6
Deferred financing costs revolving credit facility		0.7
Investments in equity method investees	53.6	56.4
Computer software	86.4	76.6
Investment in common stock	10.4	10.4
Pension asset	14.2	17.2
Investment in Hycroft common stock	5.3	5.8
Investment in Hycroft warrants	0.8	3.3
Other	18.3	21.8
Other long-term assets, total	192.5	195.8
Accrued expenses and other liabilities:
Taxes other than income	79.8	76.4
Interest	43.1	50.3
Payroll and vacation	57.9	50.4
Current portion of casualty claims and premiums	9.8	9.3
Accrued bonus	47.7	56.7
Accrued licensing and variable rent	27.5	24.6
Current portion of pension	0.2	0.1
Group insurance reserve	1.5	3.4
Accrued tax payable	1.5	1.7
Other	71.6	77.9
Accrued expenses and other liabilities, total	340.6	350.8
Other long-term liabilities:
Pension	25.4	33.3
Casualty claims and premiums	16.2	13.5
Contingencies	9.4	18.7
Other	30.9	37.2
Other long-term liabilities, total	$ 81.9	$ 102.7

CORPORATE BORROWINGS AND FINA_3

CORPORATE BORROWINGS AND FINANCE LEASE LIABILITIES - Long-term debt and lease obligations (Details) $ / shares in Units, £ in Millions, $ in Millions				12 Months Ended
	Jul. 22, 2024 USD ($)	Feb. 14, 2022 USD ($)	Jul. 31, 2020 USD ($)	Dec. 31, 2024 USD ($) $ / shares	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Sep. 30, 2024 USD ($)	Dec. 31, 2023 GBP (£)	Dec. 31, 2020	Oct. 15, 2020 USD ($)	Apr. 24, 2020 USD ($)	Mar. 17, 2017 USD ($)	Mar. 17, 2017 GBP (£)	Nov. 08, 2016 USD ($)	Nov. 08, 2016 GBP (£)	Jun. 05, 2015 USD ($)
CORPORATE BORROWINGS AND FINANCE LEASE OBLIGATIONS
Total principal amount of corporate borrowings				$ 4,134.5	$ 4,504.3
Finance lease liabilities				49.3	55.4
Paid-in-kind interest for 6.00%/8.00% Cash/PIK Toggle Senior Secured Exchangeable Notes due 2030				1.5
Deferred financing costs				(47.2)	(31.1)
Net premium (discount)				(171.3)	104.2
Derivative liability - Conversion Option				157.6
Total carrying value of corporate borrowings and finance lease liabilities				4,124.4	4,632.8
Current maturities of corporate borrowings				(64.2)	(25.1)
Current maturities of finance lease liabilities				(4.4)	(5.4)
Total noncurrent carrying value of corporate borrowings and finance lease liabilities				4,055.8	4,602.3
Corporate borrowings				401.8	369.6	$ 336.4
6.375% Senior Subordinated Notes due 2024
CORPORATE BORROWINGS AND FINANCE LEASE OBLIGATIONS
Total principal amount of corporate borrowings					$ 5.1								£ 250
Deferred financing costs												$ (12.7)
Stated interest rate (as a percent)			6.375%		6.375%			6.375%	6.375%			6.375%	6.375%	6.375%	6.375%
Debt instrument face amount | £								£ 4					£ 250		£ 250
5.75% Senior Subordinated Notes due 2025
CORPORATE BORROWINGS AND FINANCE LEASE OBLIGATIONS
Total principal amount of corporate borrowings				$ 44.1	$ 98.3
Stated interest rate (as a percent)			5.75%	5.75%	5.75%			5.75%								5.75%
Debt instrument face amount																$ 600
5.875% Senior Subordinated Notes due 2026
CORPORATE BORROWINGS AND FINANCE LEASE OBLIGATIONS
Total principal amount of corporate borrowings				$ 41.9	$ 51.5
Stated interest rate (as a percent)			5.875%	5.875%	5.875%			5.875%						5.875%	5.875%
Debt instrument face amount														$ 595
6.125% Senior Subordinated Notes due 2027
CORPORATE BORROWINGS AND FINANCE LEASE OBLIGATIONS
Total principal amount of corporate borrowings				$ 125.5	$ 125.5
Deferred financing costs												$ (19.8)
Stated interest rate (as a percent)			6.125%	6.125%	6.125%			6.125%				6.125%	6.125%
Debt instrument face amount												$ 475
Senior Subordinated Notes
CORPORATE BORROWINGS AND FINANCE LEASE OBLIGATIONS
Debt instrument face amount			$ 1,782.5	$ 235
New Term Loans
CORPORATE BORROWINGS AND FINANCE LEASE OBLIGATIONS
Total principal amount of corporate borrowings				2,014.2
Net premium (discount)				(43.4)
Debt instrument face amount	$ 1,200			$ 2,024.3			$ 793
Effective interest rate				11.356%
Odeon Senior Secured Note 2027
CORPORATE BORROWINGS AND FINANCE LEASE OBLIGATIONS
Net premium (discount)				$ (20.9)	$ (26.4)
Stated interest rate (as a percent)				12.75%	12.75%			12.75%
Exchangeable Notes
CORPORATE BORROWINGS AND FINANCE LEASE OBLIGATIONS
Total principal amount of corporate borrowings	503.8			$ 445.5
Paid-in-kind interest for 6.00%/8.00% Cash/PIK Toggle Senior Secured Exchangeable Notes due 2030	23.9			1.5
Deferred financing costs	(23.2)			(23.3)
Net premium (discount)	(120.8)			(117.9)
Derivative liability - Conversion Option	$ 233.4			$ 157.6
Interest rate cash (as a percent)	6%			6%
PIK interest rate (as a percent)	8%			8%
Debt instrument face amount	$ 414.4			$ 427.6
Closing price	$ 293.6
Effective interest rate	15.12%
Corporate borrowings				18.2
If-converted value in excess of principal				$ 88.3
Price per share (in dollars per share) | $ / shares				$ 3.98
Second Lien Subordinated Notes due 2026
CORPORATE BORROWINGS AND FINANCE LEASE OBLIGATIONS
Total principal amount of corporate borrowings				$ 574.6
Senior Secured Credit Facility Term Loan Due 2026
CORPORATE BORROWINGS AND FINANCE LEASE OBLIGATIONS
Total principal amount of corporate borrowings					$ 1,905
Net premium (discount)					$ (3.3)
Stated interest rate (as a percent)					8.474%			8.474%
Senior Secured Credit Facility Term Loan Due 2026 | New Term Loans
CORPORATE BORROWINGS AND FINANCE LEASE OBLIGATIONS
Principal and premium repayments	$ 1,100
Odeon Senior Secured Notes Due 2027
CORPORATE BORROWINGS AND FINANCE LEASE OBLIGATIONS
Total principal amount of corporate borrowings				$ 400	$ 400
Stated interest rate (as a percent)				12.75%
First Lien Notes due 2029
CORPORATE BORROWINGS AND FINANCE LEASE OBLIGATIONS
Total principal amount of corporate borrowings				$ 950	$ 950
Stated interest rate (as a percent)	7.50%	7.50%		7.50%	7.50%			7.50%
Debt instrument face amount		$ 950
Second Lien Subordinated Notes due 2026
CORPORATE BORROWINGS AND FINANCE LEASE OBLIGATIONS
Total principal amount of corporate borrowings				$ 131.2	$ 968.9
Net premium (discount)				$ 10.9	$ 133.9
Interest rate cash (as a percent)	10%			10%	10%
PIK interest rate (as a percent)	12%			12%	12%
First Lien Notes due 2025
CORPORATE BORROWINGS AND FINANCE LEASE OBLIGATIONS
Total noncurrent carrying value of corporate borrowings and finance lease liabilities										$ 10
Stated interest rate (as a percent)		10.50%								10.50%	10.50%
Principal and premium repayments		$ 500
Debt instrument face amount											$ 500
First Lien Notes due 2026
CORPORATE BORROWINGS AND FINANCE LEASE OBLIGATIONS
Stated interest rate (as a percent)		10.50%		10.50%
Debt instrument face amount		$ 300	200
First Lien Toggle Notes due 2026
CORPORATE BORROWINGS AND FINANCE LEASE OBLIGATIONS
Interest rate cash (as a percent)		15%		15%
PIK interest rate (as a percent)		17%		17%
Principal and premium repayments		$ 73.5
First Lien Toggle Notes due 2026 | Exchangeable Notes
CORPORATE BORROWINGS AND FINANCE LEASE OBLIGATIONS
Total principal amount of corporate borrowings				$ 427.6
Second Lien Notes
CORPORATE BORROWINGS AND FINANCE LEASE OBLIGATIONS
Total principal amount of corporate borrowings			$ 1,997.4
Stated interest rate (as a percent)			10%
PIK interest rate (as a percent)			12%
Debt instrument face amount			$ 1,289.1	$ 173.2

CORPORATE BORROWINGS AND FINA_4

CORPORATE BORROWINGS AND FINANCE LEASE LIABILITIES - Maturities of corporate borrowings (Details) $ in Millions	Dec. 31, 2024 USD ($)
Principal Amount of Corporate Borrowings
2025	$ 64.2
2026	192.9
2027	545.1
2028	19.5
2029	2,885.2
Thereafter	427.6
Total	$ 4,134.5

CORPORATE BORROWINGS AND FINA_5

CORPORATE BORROWINGS AND FINANCE LEASE LIABILITIES - Debt for equity exchange (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Jul. 31, 2020	Jun. 05, 2015
STOCKHOLDERS' EQUITY
Reacquisition Cost	$ 3.9
(Gain) loss on extinguishment of debt	(38.9)	$ (142.8)	$ 92.8
Total debt repurchases and exchanges
STOCKHOLDERS' EQUITY
Aggregate Principal Repurchased	382.9	325
Reacquisition Cost	$ 318.1	$ 233.3
Shares of Common Stock Exchanged	47,654,455	14,186,651
(Gain) loss on extinguishment of debt	$ (100.1)	$ (142.8)
Accrued Interest Paid/Exchanged	12.1
Equity Debt Repurchase
STOCKHOLDERS' EQUITY
Aggregate Principal Repurchased	260.8
Reacquisition Cost	$ 197
Shares of Common Stock Exchanged	44,080,132
(Gain) loss on extinguishment of debt	$ (89.9)
Accrued Interest Paid/Exchanged	9.1
Cash debt repurchase
STOCKHOLDERS' EQUITY
Aggregate Principal Repurchased	58.9		123.6
Reacquisition Cost	59.1		69.9
(Gain) loss on extinguishment of debt	(4.7)		(78.7)
Accrued Interest Paid/Exchanged	1.5
Cash and debt for equity exchanges
STOCKHOLDERS' EQUITY
Aggregate Principal Repurchased	63.2
Reacquisition Cost	$ 62
Shares of Common Stock Exchanged	3,574,323
(Gain) loss on extinguishment of debt	$ (5.5)
Accrued Interest Paid/Exchanged	1.5
Second Lien Notes | Equity Debt Repurchase
STOCKHOLDERS' EQUITY
Aggregate Principal Repurchased	224.1	105.3
Reacquisition Cost	$ 157.2	$ 91.7
Shares of Common Stock Exchanged	35,062,835	14,186,651
(Gain) loss on extinguishment of debt	$ (93.1)	$ (28.3)
Accrued Interest Paid/Exchanged	8.3
Second Lien Notes | Cash debt repurchase
STOCKHOLDERS' EQUITY
Aggregate Principal Repurchased	50		118.3
Reacquisition Cost	50.5		68.3
(Gain) loss on extinguishment of debt	(4.4)		$ (75)
Accrued Interest Paid/Exchanged	1.4
Second Lien Notes | Cash and debt for equity exchanges
STOCKHOLDERS' EQUITY
Aggregate Principal Repurchased	45
Reacquisition Cost	$ 45.5
Shares of Common Stock Exchanged	2,693,717
(Gain) loss on extinguishment of debt	$ (4)
Accrued Interest Paid/Exchanged	$ 1.2
5.75% Senior Subordinated Notes due 2025
STOCKHOLDERS' EQUITY
Stated interest rate (as a percent)	5.75%	5.75%		5.75%	5.75%
5.75% Senior Subordinated Notes due 2025 | Equity Debt Repurchase
STOCKHOLDERS' EQUITY
Aggregate Principal Repurchased	$ 36.7
Reacquisition Cost	$ 39.8
Shares of Common Stock Exchanged	9,017,297
(Gain) loss on extinguishment of debt	$ 3.2
Accrued Interest Paid/Exchanged	$ 0.8
Stated interest rate (as a percent)	5.75%
5.75% Senior Subordinated Notes due 2025 | Cash debt repurchase
STOCKHOLDERS' EQUITY
Aggregate Principal Repurchased	$ 8.9
Reacquisition Cost	8.6
(Gain) loss on extinguishment of debt	(0.3)
Accrued Interest Paid/Exchanged	$ 0.1
Stated interest rate (as a percent)	5.75%
5.75% Senior Subordinated Notes due 2025 | Cash and debt for equity exchanges
STOCKHOLDERS' EQUITY
Aggregate Principal Repurchased	$ 8.6
Reacquisition Cost	$ 8.4
Shares of Common Stock Exchanged	447,829
(Gain) loss on extinguishment of debt	$ (0.2)
Accrued Interest Paid/Exchanged	$ 0.1
Stated interest rate (as a percent)	5.75%
5.875% Senior Subordinated Notes due 2026 | Cash debt repurchase
STOCKHOLDERS' EQUITY
Stated interest rate (as a percent)		5.875%
5.875% Senior Subordinated Notes due 2026 | Cash and debt for equity exchanges
STOCKHOLDERS' EQUITY
Aggregate Principal Repurchased	$ 9.6
Reacquisition Cost	$ 8.1
Shares of Common Stock Exchanged	432,777
(Gain) loss on extinguishment of debt	$ (1.3)
Accrued Interest Paid/Exchanged	$ 0.2
Stated interest rate (as a percent)	5.875%

CORPORATE BORROWINGS AND FINA_6

CORPORATE BORROWINGS AND FINANCE LEASE LIABILITIES - Debt repurchase transactions (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Reacquisition Cost	$ 3.9
(Gain) on Extinguishment	(38.9)	$ (142.8)	$ 92.8
Total debt repurchases and exchanges
Debt Instrument [Line Items]
Aggregate Principal Repurchased	$ 382.9	$ 325
Shares of Common Stock Exchanged	47,654,455	14,186,651
Reacquisition Cost	$ 318.1	$ 233.3
(Gain) on Extinguishment	(100.1)	(142.8)
Accrued Interest Paid/Exchanged		6.9
Cash debt repurchase
Debt Instrument [Line Items]
Aggregate Principal Repurchased	58.9		123.6
Reacquisition Cost	59.1		69.9
(Gain) on Extinguishment	(4.7)		(78.7)
Accrued Interest Paid/Exchanged			4.5
Equity Debt Repurchase
Debt Instrument [Line Items]
Aggregate Principal Repurchased	$ 260.8
Shares of Common Stock Exchanged	44,080,132
Reacquisition Cost	$ 197
(Gain) on Extinguishment	(89.9)
Related and Non-Related parties | Cash debt repurchase
Debt Instrument [Line Items]
Aggregate Principal Repurchased		219.7
Reacquisition Cost		141.6
(Gain) on Extinguishment		(114.5)
Accrued Interest Paid/Exchanged		5.7
Related Party | Cash debt repurchase
Debt Instrument [Line Items]
Aggregate Principal Repurchased		80
Reacquisition Cost		50.2
(Gain) on Extinguishment		(43.2)
Accrued Interest Paid/Exchanged		1.2
Nonrelated Party | Cash debt repurchase
Debt Instrument [Line Items]
Aggregate Principal Repurchased		139.7
Reacquisition Cost		91.4
(Gain) on Extinguishment		(71.3)
Accrued Interest Paid/Exchanged		4.5
Second Lien Notes | Cash debt repurchase
Debt Instrument [Line Items]
Aggregate Principal Repurchased	50		118.3
Reacquisition Cost	50.5		68.3
(Gain) on Extinguishment	(4.4)		(75)
Accrued Interest Paid/Exchanged			4.5
Second Lien Notes | Equity Debt Repurchase
Debt Instrument [Line Items]
Aggregate Principal Repurchased	$ 224.1	$ 105.3
Shares of Common Stock Exchanged	35,062,835	14,186,651
Reacquisition Cost	$ 157.2	$ 91.7
(Gain) on Extinguishment	$ (93.1)	(28.3)
Accrued Interest Paid/Exchanged		1.2
Second Lien Notes | Related Party | Cash debt repurchase
Debt Instrument [Line Items]
Aggregate Principal Repurchased		75.9
Reacquisition Cost		48.5
(Gain) on Extinguishment		(40.9)
Accrued Interest Paid/Exchanged		1.1
Second Lien Notes | Nonrelated Party | Cash debt repurchase
Debt Instrument [Line Items]
Aggregate Principal Repurchased		139.7
Reacquisition Cost		91.4
(Gain) on Extinguishment		(71.3)
Accrued Interest Paid/Exchanged		$ 4.5
5.875% Senior Subordinated Notes due 2026 | Cash debt repurchase
Debt Instrument [Line Items]
Stated interest rate (as a percent)		5.875%
5.875% Senior Subordinated Notes due 2026 | Related Party | Cash debt repurchase
Debt Instrument [Line Items]
Aggregate Principal Repurchased		$ 4.1
Reacquisition Cost		1.7
(Gain) on Extinguishment		(2.3)
Accrued Interest Paid/Exchanged		$ 0.1
6.125% Senior Subordinated Notes due 2027. | Cash debt repurchase
Debt Instrument [Line Items]
Aggregate Principal Repurchased			5.3
Reacquisition Cost			1.6
(Gain) on Extinguishment			$ (3.7)
Stated interest rate (as a percent)			6.125%

CORPORATE BORROWINGS AND FINA_7

CORPORATE BORROWINGS AND FINANCE LEASE LIABILITIES - Refinancing transactions (Details)			5 Months Ended	12 Months Ended
	Jul. 22, 2024 USD ($) installment item D $ / shares	Feb. 14, 2022 USD ($)	Dec. 31, 2024 USD ($)	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Sep. 30, 2024 USD ($)	Jul. 31, 2020	Jun. 05, 2015 USD ($)
Debt Instrument [Line Items]
Total principal amount of corporate borrowings			$ 4,134,500,000	$ 4,134,500,000	$ 4,504,300,000
(Gain)/Loss on Extinguishment				38,900,000	142,800,000	$ (92,800,000)
Number of theaters transferred | item	175
Debt issuance costs			(47,200,000)	(47,200,000)	(31,100,000)
Redemption price of debt instrument (as a percent)		107.50%
Senior Secured Credit Facility Term Loan Due 2026
Debt Instrument [Line Items]
Aggregate Principal Repurchased			1,895,000,000	1,895,000,000
Total principal amount of corporate borrowings					$ 1,905,000,000
Exercised an option to repurchase			1,895,000,000	1,895,000,000
Stated interest rate (as a percent)					8.474%
Second Lien Subordinated Notes due 2026
Debt Instrument [Line Items]
Total principal amount of corporate borrowings			131,200,000	$ 131,200,000	$ 968,900,000
Interest rate cash (as a percent)	10%			10%	10%
PIK interest rate	12%			12%	12%
First Lien Notes due 2029
Debt Instrument [Line Items]
Aggregate principal amount		$ 950,000,000
Total principal amount of corporate borrowings			$ 950,000,000	$ 950,000,000	$ 950,000,000
(Gain)/Loss on Extinguishment						$ 135,000,000
Redemption price of debt instrument (as a percent)		101%
Threshold number of days prior to the maturity date of 7.50% first lien secured notes due 2029 outstanding excluded for redemption	90 days
Stated interest rate (as a percent)	7.50%	7.50%	7.50%	7.50%	7.50%
Debt maturing in 2026
Debt Instrument [Line Items]
Number of creditor groups involved in refinancing transactions | item	2
Refinanced amount	$ 1,600,000,000
New Term Loans
Debt Instrument [Line Items]
Aggregate principal amount	$ 1,200,000,000		$ 2,024,300,000	$ 2,024,300,000			$ 793,000,000
Total principal amount of corporate borrowings			2,014,200,000	2,014,200,000
Aggregate Principal Exchanged			104,200,000	104,200,000
Amortization of debt (in percent)	1%
New Term Loans | Base rate | Until the delivery under the New Term Loan Credit Agreement of the financial statements for the first full fiscal quarter ending after the Closing Date
Debt Instrument [Line Items]
Spread (as a percent)	6%
New Term Loans | Base rate | Minimum
Debt Instrument [Line Items]
Spread (as a percent)	5%
New Term Loans | Base rate | Maximum
Debt Instrument [Line Items]
Spread (as a percent)	6%
New Term Loans | Adjusted Term SOFR | Until the delivery under the New Term Loan Credit Agreement of the financial statements for the first full fiscal quarter ending after the Closing Date
Debt Instrument [Line Items]
Spread (as a percent)	7%
New Term Loans | Adjusted Term SOFR | Minimum
Debt Instrument [Line Items]
Spread (as a percent)	6%
New Term Loans | Adjusted Term SOFR | Maximum
Debt Instrument [Line Items]
Spread (as a percent)	7%
New Term Loans | Senior Secured Credit Facility Term Loan Due 2026
Debt Instrument [Line Items]
Principal and premium repayments	$ 1,100,000,000
New Term Loans | Second Lien Subordinated Notes due 2026
Debt Instrument [Line Items]
Aggregate Principal Exchanged	104,200,000
New Term Loans | First Lien Notes due 2029
Debt Instrument [Line Items]
Minimum amount of First Lien Notes not to be repurchased (and cancelled), repaid or refinanced by October 5, 2028	190,000,000
Existing Loans
Debt Instrument [Line Items]
Total principal amount of corporate borrowings			0	0
Exchangeable Notes
Debt Instrument [Line Items]
Aggregate principal amount	414,400,000		427,600,000	427,600,000
Total principal amount of corporate borrowings	$ 503,800,000		445,500,000	445,500,000
Aggregate Principal Exchanged			293,600,000	$ 293,600,000
Interest rate cash (as a percent)	6%			6%
PIK interest rate	8%			8%
Closing price	$ 293,600,000
Debt issuance costs	$ (23,200,000)		(23,300,000)	$ (23,300,000)
Deferred charges, debt issuance costs			700,000
Conversion rate	176.6379
Conversion price (in dollars per share) | $ / shares	$ 5.66
Threshold percentage of stock price trigger	113%
Minimum percentage of common stock price excluded for redemption	140%
Threshold period of specified consecutive trading days excluded for redemption | D	15
Number of business days entitled for submission for exchange	2 days
Number of installment for periodic payment in cash | installment	12
Repurchase price (in percent)	100%
Redemption price of debt instrument (as a percent)	100%
Threshold outstanding principal al of 7.50% first lien secured notes due 2029 excluded	$ 190,000,000
Exchangeable Notes | Prior to the third anniversary of the Issue Date
Debt Instrument [Line Items]
Percentage of aggregate principal amount exchanged	18%
Exchangeable Notes | On or after the third anniversary and prior to the fourth anniversary of the Issue Date
Debt Instrument [Line Items]
Percentage of aggregate principal amount exchanged	12%
Exchangeable Notes | On or after the fourth anniversary of the Issue Date and prior to the fifth anniversary
Debt Instrument [Line Items]
Percentage of aggregate principal amount exchanged	6%
Exchangeable Notes | Minimum
Debt Instrument [Line Items]
Number of business days	5 days
Exchangeable Notes | Maximum
Debt Instrument [Line Items]
Number of business days	10 days
Exchangeable Notes | Second Lien Subordinated Notes due 2026
Debt Instrument [Line Items]
Aggregate Principal Repurchased	$ 414,400,000
Exercised an option to repurchase	$ 414,400,000
5.75% Senior Subordinated Notes due 2025
Debt Instrument [Line Items]
Aggregate principal amount									$ 600,000,000
Total principal amount of corporate borrowings			$ 44,100,000	$ 44,100,000	$ 98,300,000
Stated interest rate (as a percent)			5.75%	5.75%	5.75%			5.75%	5.75%
Second Lien Subordinated Notes due 2026
Debt Instrument [Line Items]
Total principal amount of corporate borrowings			$ 574,600,000	$ 574,600,000
Aggregate Principal Exchanged			635,800,000	635,800,000
PIK fee paid to Second Lien Lenders			2,300,000	2,300,000
Cash fee paid to Second Lien Lenders			2,300,000	2,300,000
(Gain)/Loss on Extinguishment				61,200,000
Payments of debt restructuring costs				42,300,000
Premium Second Lien Notes
Debt Instrument [Line Items]
Total principal amount of corporate borrowings			56,000,000	56,000,000
Principal Second Lien Notes
Debt Instrument [Line Items]
Total principal amount of corporate borrowings			518,600,000	518,600,000
Conversion Option
Debt Instrument [Line Items]
Aggregate Principal Exchanged			233,400,000	233,400,000
New Term Loans
Debt Instrument [Line Items]
Unamortized discount			6,500,000	6,500,000
Debt issuance costs			$ (45,700,000)	$ (45,700,000)

CORPORATE BORROWINGS AND FINA_8

CORPORATE BORROWINGS AND FINANCE LEASE LIABILITIES - Exchangeable Notes (Details) - USD ($) $ in Millions	5 Months Ended		12 Months Ended
	Dec. 31, 2024	Dec. 31, 2024	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Jul. 22, 2024
Debt Instrument, Redemption [Line Items]
Discount	$ (171.3)	$ (171.3)	$ (171.3)	$ 104.2
Debt issuance costs	(47.2)	(47.2)	(47.2)	(31.1)
Accrued paid-in-kind interest	1.5	1.5	1.5
Derivative liability	157.6	157.6	157.6
Amortization of deferred financing costs to interest expense			8.3	9.6	$ 12.6
Amortization of net discount (premium) on corporate borrowings to interest expense			(17.5)	(55.6)	$ (65.4)
Derivative liability			75.8
Carrying value of corporate borrowings	4,134.5	4,134.5	4,134.5	$ 4,504.3
Exchangeable Notes
Debt Instrument, Redemption [Line Items]
Debt instrument face amount	427.6	427.6	427.6			$ 414.4
Discount	(117.9)	(117.9)	(117.9)			(120.8)
Debt issuance costs	(23.3)	(23.3)	(23.3)			(23.2)
Accrued paid-in-kind interest	1.5	1.5	1.5			23.9
Derivative liability	157.6	157.6	157.6			233.4
Carrying value	(57.6)
Debt instrument, Principal, (increase) decrease to net earnings (loss)	13.2
Additional Deferred Charges		(0.7)
Deferred charges, debt issuance costs		(0.7)
Amortization of deferred financing costs to interest expense	0.6
Amortization of net discount (premium) on corporate borrowings to interest expense	2.9
Accrued paid-in-kind interest, (Increase) decrease to net earnings (loss)	1.5
Derivative liability	(75.8)
Carrying value of corporate borrowings	$ 445.5	$ 445.5	$ 445.5			$ 503.8

CORPORATE BORROWINGS AND FINA_9

CORPORATE BORROWINGS AND FINANCE LEASE LIABILITIES - Senior Secured Credit Facility (Details) - USD ($) $ in Millions			12 Months Ended
	Jun. 23, 2023	Apr. 22, 2019	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Jul. 31, 2020	Nov. 08, 2016	Apr. 30, 2013
Corporate borrowings and finance lease obligations
Payment of debt			$ 20.1	$ 20	$ 20
Senior Secured Credit Facility
Corporate borrowings and finance lease obligations
New term loans maturing								$ 2,225
Revolving credit facility
Corporate borrowings and finance lease obligations
New term loans maturing								225
Senior secured tranche B loan maturing April 22, 2026
Corporate borrowings and finance lease obligations
New term loans maturing								$ 2,000
Senior Secured Credit Facility Term Loans | Base rate
Corporate borrowings and finance lease obligations
Spread on variable rate basis (as a percent)	2%
Spread (as a percent)	2%
Senior Secured Credit Facility Term Loans | Federal Funds Effective Rate
Corporate borrowings and finance lease obligations
Spread on variable rate basis (as a percent)		0.50%
Spread (as a percent)		0.50%
Senior Secured Credit Facility Term Loans | SOFR
Corporate borrowings and finance lease obligations
Spread on variable rate basis (as a percent)	3%	1%
Spread (as a percent)	3%	1%
5.875% Senior Subordinated Notes due 2026
Corporate borrowings and finance lease obligations
Stated interest rate (as a percent)			5.875%	5.875%		5.875%	5.875%

CORPORATE BORROWINGS AND FIN_10

CORPORATE BORROWINGS AND FINANCE LEASE LIABILITIES - Thirteenth Amendment to Credit Agreement (Details) - Thirteenth Amendment to Credit Agreement	Jun. 23, 2023
SOFR, Interest period of one-month
Debt Instrument [Line Items]
Credit spread adjustment	0.11448%
SOFR, Interest period of three-months
Debt Instrument [Line Items]
Credit spread adjustment	0.26161%
SOFR, Interest period of six-months
Debt Instrument [Line Items]
Credit spread adjustment	0.42826%

CORPORATE BORROWINGS AND FIN_11

CORPORATE BORROWINGS AND FINANCE LEASE LIABILITIES - Odeon Secured Debt (Details) € in Millions, £ in Millions, $ in Millions						12 Months Ended
	Oct. 20, 2022 USD ($)	Oct. 20, 2022 GBP (£)	Oct. 20, 2022 EUR (€)	Feb. 14, 2022	Feb. 15, 2021 USD ($)	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Feb. 15, 2021 GBP (£)	Feb. 15, 2021 EUR (€)
Debt Instrument [Line Items]
(Gain) loss on extinguishment of debt						$ (38.9)	$ (142.8)	$ 92.8
Debt Instrument, Redemption Price, Percentage				107.50%
Deferred financing cost write-off						8.3	9.6	12.6
Amortization of net premium on corporate borrowings to interest expense						(17.5)	(55.6)	(65.4)
Deferred financing costs						$ 47.2	$ 31.1
Odeon Term Loan Facility | Other expense
Debt Instrument [Line Items]
(Gain) loss on extinguishment of debt								36.5
Odeon Term Loan Facility | Odeon Cinemas Group Limited
Debt Instrument [Line Items]
(Gain) loss on extinguishment of debt	$ 36.5
Odeon Senior Secured Note 2027
Debt Instrument [Line Items]
Stated interest rate (as a percent)						12.75%	12.75%
Net proceeds from issuance of notes								$ 368
Odeon Senior Secured Note 2027 | Odeon Cinemas Group Limited
Debt Instrument [Line Items]
Debt instrument face amount	$ 400
Stated interest rate (as a percent)	12.75%
Debt instrument issue price percentage	92%	92%	92%
Interest rate cash (as a percent)	12.75%	12.75%	12.75%
Net proceeds from issuance of notes	$ 363
Debt instrument redemption amount as a percentage of principal amount	112.75%	112.75%	112.75%
Odeon Senior Secured Note 2027 | Odeon Cinemas Group Limited | Sell assets of subsidiaries and company
Debt Instrument [Line Items]
Debt instrument redemption amount as a percentage of principal amount	100%	100%	100%
Odeon Senior Secured Note 2027 | Odeon Cinemas Group Limited | Change of control
Debt Instrument [Line Items]
Debt instrument redemption amount as a percentage of principal amount	101%	101%	101%
Odeon Senior Secured Note 2027 | Redemption Period One | Odeon Cinemas Group Limited
Debt Instrument [Line Items]
Debt instrument redemption amount as a percentage of principal amount	106.375%	106.375%	106.375%
Odeon Senior Secured Note 2027 | Redemption Period Two | Odeon Cinemas Group Limited
Debt Instrument [Line Items]
Debt instrument redemption amount as a percentage of principal amount	103.188%	103.188%	103.188%
Odeon Senior Secured Note 2027 | Redemption period three | Odeon Cinemas Group Limited
Debt Instrument [Line Items]
Debt instrument redemption amount as a percentage of principal amount	100%	100%	100%
Odeon Senior Secured Note 2027 | At the time of sale of assets | Odeon Cinemas Group Limited
Debt Instrument [Line Items]
Debt Instrument, Redemption Price, Percentage	35%	35%	35%
Odeon Term Loan Facility due 2023
Debt Instrument [Line Items]
Amortization of net premium on corporate borrowings to interest expense					$ 19.4
Deferred financing costs					$ 16.5
Odeon Term Loan Facility due 2023 | Odeon Cinemas Group Limited
Debt Instrument [Line Items]
Cash	$ 146.7
Interest rate percentage in year one					10.75%				10.75%	10.75%
Interest rate percentage in year thereafter					11.25%				11.25%	11.25%
Interest period, Term					3 months
£140.0 million term loan facility agreement | Odeon Cinemas Group Limited
Debt Instrument [Line Items]
Debt instrument face amount | £									£ 140
Principal and premium repayments	167.7	£ 147.6
€296.0 million term loan facility agreement | Odeon Cinemas Group Limited
Debt Instrument [Line Items]
Debt instrument face amount | €										€ 296
Principal and premium repayments	$ 308.9		€ 312.2

CORPORATE BORROWINGS AND FIN_12

CORPORATE BORROWINGS AND FINANCE LEASE LIABILITIES - First and Second Lien Notes due 2026 (Details) $ in Millions							1 Months Ended	12 Months Ended
	Dec. 06, 2024 shares	Aug. 25, 2023 shares	Feb. 07, 2023 USD ($) shares	Dec. 22, 2022 USD ($) shares	Feb. 14, 2022	Jul. 31, 2020 USD ($) item	Jan. 31, 2025 shares	Dec. 31, 2024 USD ($) item	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Jun. 05, 2015 USD ($)
Debt Instrument [Line Items]
Gain on Extinguishment								$ 38.9	$ 142.8	$ (92.8)
Interest								401.6	421.2	379
Conversion of convertible securities (in shares) | shares		99,540,642
Accrued interest paid								$ 401.6	421.2	$ 379
Forward purchase agreement
Debt Instrument [Line Items]
Shares issued | shares	30,000,000
Principal amount									$ 118.6
Subsequent Events | Forward purchase agreement
Debt Instrument [Line Items]
Shares issued | shares							30,000,000
5.75% Senior Subordinated Notes due 2025
Debt Instrument [Line Items]
Aggregate principal amount											$ 600
Stated interest rate (as a percent)						5.75%		5.75%	5.75%		5.75%
Antara Capital LP | Second Lien Notes | Forward purchase agreement
Debt Instrument [Line Items]
Aggregate principal amount			$ 100	$ 100
PIK interest rate (as a percent)			12%	12%
Interest			$ 1.4
Cash interest rate (as a percent)			10%	10%
Accrued interest paid			$ 1.4
Antara Capital LP | AMC Preferred Equity Units | Forward purchase agreement
Debt Instrument [Line Items]
Number of shares sold | shares			19,762,130	10,659,511
Value of shares sold				$ 75.1
Antara Capital LP | AMC Preferred Equity Units | Second Lien Notes | Forward purchase agreement
Debt Instrument [Line Items]
Increase in stockholders' deficit			$ 193.7
First Lien Toggle Notes due 2026
Debt Instrument [Line Items]
Interest rate cash (as a percent)					15%			15%
Number Of Interest Periods | item								3
PIK interest rate (as a percent)					17%			17%
Second Lien Notes
Debt Instrument [Line Items]
Aggregate principal amount						$ 1,289.1		$ 173.2
Stated interest rate (as a percent)						10%
PIK interest rate (as a percent)						12%
Number of interest periods | item						3
Principal amount						$ 1,462.3

CORPORATE BORROWINGS AND FIN_13

CORPORATE BORROWINGS AND FINANCE LEASE LIABILITIES - First Lien Notes Due 2029 (Details) - USD ($) $ in Millions		12 Months Ended
	Feb. 14, 2022	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Jul. 22, 2024
Debt Instrument [Line Items]
Gain on Extinguishment		$ 38.9	$ 142.8	$ (92.8)
Debt Instrument, Redemption Price, Percentage	107.50%
First Lien Notes due 2029
Debt Instrument [Line Items]
Aggregate principal amount	$ 950
Stated interest rate (as a percent)	7.50%	7.50%	7.50%		7.50%
Gain on Extinguishment				$ 135
Debt Instrument, Redemption Price, Percentage	101%
First Lien Notes due 2029 | Redemption Period One
Debt Instrument [Line Items]
Debt instrument redemption amount as a percentage of principal amount	103.75%
First Lien Notes due 2029 | Redemption Period Two
Debt Instrument [Line Items]
Debt instrument redemption amount as a percentage of principal amount	101.875%
First Lien Notes due 2029 | Redemption period three
Debt Instrument [Line Items]
Debt instrument redemption amount as a percentage of principal amount	100%
First Lien Notes due 2029 | At the time of sale of assets
Debt Instrument [Line Items]
Debt Instrument, Redemption Price, Percentage	35%
Debt instrument redemption amount as a percentage of principal amount	100%

CORPORATE BORROWINGS AND FIN_14

CORPORATE BORROWINGS AND FINANCE LEASE LIABILITIES - Senior Unsecured Convertible Notes narrative (Details) $ / shares in Units, $ in Millions				5 Months Ended	12 Months Ended
	Jul. 22, 2024 USD ($) $ / shares	Feb. 14, 2022 USD ($)	Jul. 31, 2020 USD ($) item	Dec. 31, 2024 USD ($) $ / shares	Dec. 31, 2024 USD ($) $ / shares	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Oct. 15, 2020 USD ($)	Apr. 24, 2020 USD ($)
CORPORATE BORROWINGS AND FINANCE LEASE OBLIGATIONS
Long-Term Debt, Gross				$ 4,134.5	$ 4,134.5	$ 4,504.3
Amortization of Debt Discount (Premium)					(17.5)	(55.6)	$ (65.4)
Redemption price of debt instrument (as a percent)		107.50%
Total noncurrent carrying value of corporate borrowings and finance lease liabilities				4,055.8	4,055.8	4,602.3
Debt issuance costs				47.2	47.2	31.1
Interest expense					401.8	369.6	336.4
Other expense					156.2	$ 76.8	$ (55.2)
Second Lien Notes
CORPORATE BORROWINGS AND FINANCE LEASE OBLIGATIONS
Long-Term Debt, Gross			$ 1,997.4
Amortization of Debt Discount (Premium)			$ 535.1
PIK interest rate			12%
Number of interest periods | item			3
Percentage of redemption of debt on aggregate principal amount and accrued and unpaid interest			100%
Redemption price of debt instrument (as a percent)			101%
Debt instrument face amount			$ 1,289.1	$ 173.2	$ 173.2
Percentage of difference between the present value of the old and new cash flows					10%
Principal amount			$ 1,462.3
Stated interest rate (as a percent)			10%
Second Lien Notes | Redemption Period One
CORPORATE BORROWINGS AND FINANCE LEASE OBLIGATIONS
Percentage of redemption of debt on aggregate principal amount and accrued and unpaid interest			106%
Second Lien Notes | Redemption Period Two
CORPORATE BORROWINGS AND FINANCE LEASE OBLIGATIONS
Percentage of redemption of debt on aggregate principal amount and accrued and unpaid interest			103%
Second Lien Notes | Redemption period three
CORPORATE BORROWINGS AND FINANCE LEASE OBLIGATIONS
Percentage of redemption of debt on aggregate principal amount and accrued and unpaid interest			100%
First Lien Notes due 2026
CORPORATE BORROWINGS AND FINANCE LEASE OBLIGATIONS
Redemption price of debt instrument (as a percent)			100%
Debt instrument face amount		$ 300	$ 200
Stated interest rate (as a percent)		10.50%		10.50%	10.50%
First Lien Notes due 2026 | Class A common stock
CORPORATE BORROWINGS AND FINANCE LEASE OBLIGATIONS
Common Stock, Value, Outstanding			20.2
First Lien Notes due 2025
CORPORATE BORROWINGS AND FINANCE LEASE OBLIGATIONS
Debt instrument face amount									$ 500
Stated interest rate (as a percent)		10.50%						10.50%	10.50%
Total noncurrent carrying value of corporate borrowings and finance lease liabilities								$ 10
Senior Subordinated Notes
CORPORATE BORROWINGS AND FINANCE LEASE OBLIGATIONS
Debt instrument face amount			$ 1,782.5	$ 235	$ 235
Exchangeable Notes
CORPORATE BORROWINGS AND FINANCE LEASE OBLIGATIONS
Reduction in principal amount				(57.6)
Long-Term Debt, Gross	$ 503.8			445.5	$ 445.5
Amortization of Debt Discount (Premium)				2.9
PIK interest rate	8%				8%
Redemption price of debt instrument (as a percent)	100%
Debt instrument face amount	$ 414.4			$ 427.6	$ 427.6
If-converted value in excess of principal					$ 88.3
Price per share (in dollars per share) | $ / shares				$ 3.98	$ 3.98
Conversion rate	176.6379
Conversion price (in dollars per share) | $ / shares	$ 5.66
Effective interest rate	15.12%
Debt issuance costs	$ 23.2			$ 23.3	$ 23.3
Interest expense					$ 18.2
Threshold percentage of stock price trigger	113%

CORPORATE BORROWINGS AND FIN_15

CORPORATE BORROWINGS AND FINANCE LEASE LIABILITIES - Senior Unsecured Convertible Notes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
CORPORATE BORROWINGS AND FINANCE LEASE LIABILITIES
Discount	$ (171.3)	$ 104.2
Debt issuance costs	(47.2)	(31.1)
Amortization of net premium on corporate borrowings to interest expense	(17.5)	(55.6)	$ (65.4)
Deferred financing cost write-off	$ 8.3	$ 9.6	$ 12.6

CORPORATE BORROWINGS AND FIN_16

CORPORATE BORROWINGS AND FINANCE LEASE LIABILITIES - Other Notes (Details) £ in Millions, $ in Millions								12 Months Ended
	Nov. 15, 2024 USD ($)	Nov. 15, 2024 GBP (£)	Feb. 14, 2022	Jul. 31, 2020 USD ($)	Jul. 31, 2020 GBP (£)	Mar. 17, 2017 USD ($)	Jun. 05, 2015 USD ($)	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021	Dec. 31, 2023 GBP (£)	Dec. 31, 2020	Mar. 17, 2017 GBP (£)	Nov. 08, 2016 USD ($)	Nov. 08, 2016 GBP (£)
Corporate borrowings and finance lease obligations
Redemption price of debt instrument (as a percent)			107.50%
Total principal amount of corporate borrowings								$ 4,134.5	$ 4,504.3
Debt issuance costs								(47.2)	(31.1)
(Gain) loss on extinguishment of debt								(38.9)	$ (142.8)	$ 92.8
Second Lien Notes
Corporate borrowings and finance lease obligations
Debt instrument face amount				$ 1,289.1				$ 173.2
Stated interest rate (as a percent)				10%
Redemption price of debt instrument (as a percent)				101%	101%
Percentage of difference between the present value of the old and new cash flows								10%
Total principal amount of corporate borrowings				$ 1,997.4
Debt instrument redemption amount as a percentage of principal amount				100%	100%
Redemption Period One | Second Lien Notes
Corporate borrowings and finance lease obligations
Debt instrument redemption amount as a percentage of principal amount				106%	106%
Redemption Period Two | Second Lien Notes
Corporate borrowings and finance lease obligations
Debt instrument redemption amount as a percentage of principal amount				103%	103%
Redemption period three | Second Lien Notes
Corporate borrowings and finance lease obligations
Debt instrument redemption amount as a percentage of principal amount				100%	100%
6.375% Senior Subordinated Notes due 2024
Corporate borrowings and finance lease obligations
Debt instrument face amount | £												£ 4		£ 250		£ 250
Stated interest rate (as a percent)				6.375%		6.375%			6.375%			6.375%	6.375%	6.375%	6.375%	6.375%
Deferred financing costs															$ 14.1
Percentage of principal amount of the outstanding Original Notes validly tendered under exchange offer						106%
Total principal amount of corporate borrowings									$ 5.1					£ 250
Debt issuance costs						$ (12.7)
Principal amount of debt exchanged				$ 632.1	£ 496
Percentage of principal amount of debt exchanged				99.20%	99.20%
5.75% Senior Subordinated Notes due 2025
Corporate borrowings and finance lease obligations
Debt instrument face amount							$ 600
Stated interest rate (as a percent)				5.75%			5.75%	5.75%	5.75%			5.75%
Deferred financing costs							$ 11.4
Total principal amount of corporate borrowings								$ 44.1	$ 98.3
Principal amount of debt exchanged				$ 501.7
Percentage of principal amount of debt exchanged				83.61%	83.61%
5.75% Senior Subordinated Notes due 2025 | Redemption period four
Corporate borrowings and finance lease obligations
Redemption price of debt instrument (as a percent)							100%
5.875% Senior Subordinated Notes due 2026
Corporate borrowings and finance lease obligations
Debt instrument face amount															$ 595
Stated interest rate (as a percent)				5.875%				5.875%	5.875%			5.875%			5.875%	5.875%
Deferred financing costs															$ 27
Total principal amount of corporate borrowings								$ 41.9	$ 51.5
Principal payments of notes	$ 5	£ 4
Principal amount of debt exchanged				$ 539.4
Percentage of principal amount of debt exchanged				90.65%	90.65%
5.875% Senior Subordinated Notes due 2026 | Redemption Period One
Corporate borrowings and finance lease obligations
Redemption price of debt instrument (as a percent)											102.938%
5.875% Senior Subordinated Notes due 2026 | Redemption Period Two
Corporate borrowings and finance lease obligations
Redemption price of debt instrument (as a percent)											100%
6.125% Senior Subordinated Notes due 2027
Corporate borrowings and finance lease obligations
Debt instrument face amount						$ 475
Stated interest rate (as a percent)				6.125%		6.125%		6.125%	6.125%			6.125%		6.125%
Total principal amount of corporate borrowings								$ 125.5	$ 125.5
Debt issuance costs						$ (19.8)
Principal amount of debt exchanged				$ 344.3
Percentage of principal amount of debt exchanged				72.48%	72.48%
6.125% Senior Subordinated Notes due 2027 | Minimum
Corporate borrowings and finance lease obligations
Redemption price of debt instrument (as a percent)						100%
6.125% Senior Subordinated Notes due 2027 | Maximum
Corporate borrowings and finance lease obligations
Redemption price of debt instrument (as a percent)						103.063%
Senior Subordinated Notes
Corporate borrowings and finance lease obligations
Debt instrument face amount				$ 1,782.5				235
Senior Subordinated Notes due 2024
Corporate borrowings and finance lease obligations
Principal payments of notes								$ 5

STOCKHOLDERS' DEFICIT (Details)

STOCKHOLDERS' DEFICIT (Details)	12 Months Ended
	Dec. 31, 2024 item shares	Dec. 31, 2023 shares
STOCKHOLDERS' EQUITY
Preferred stock, share authorized (in shares)	50,000,000	50,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding ( in shares)	0	0
Common Stock and AMC Preferred Equity Units
STOCKHOLDERS' EQUITY
Number of votes per share | item	1

STOCKHOLDERS' DEFICIT - Shareho

STOCKHOLDERS' DEFICIT - Shareholder Litigation (Details)						12 Months Ended
	Aug. 28, 2023 shares	Aug. 24, 2023	Aug. 11, 2023	Apr. 02, 2023	Feb. 20, 2023 item	Dec. 31, 2024 item
STOCKHOLDERS' EQUITY
Stock split conversion ratio		0.1
Shares issued during period of settlement payment | shares	6,897,018
Shareholder Litigation
STOCKHOLDERS' EQUITY
Number of actions | item					2	2
Stock split conversion ratio			0.1333	0.1333	0.10

STOCKHOLDERS' DEFICIT - Charter

STOCKHOLDERS' DEFICIT - Charter Amendments and Stock Split (Details)	Aug. 25, 2023 shares	Aug. 24, 2023	Aug. 04, 2022 shares
STOCKHOLDERS' EQUITY
Conversion of convertible securities (in shares)	99,540,642
Common stock dividend declared			1
Stock split conversion ratio		0.1
Conversion ratio		0.1

STOCKHOLDERS' DEFICIT - Share I

STOCKHOLDERS' DEFICIT - Share Issuances (Details) - USD ($) $ / shares in Units, $ in Millions				1 Months Ended		12 Months Ended
		Jan. 15, 2025	Dec. 06, 2024	Jan. 31, 2025	Dec. 31, 2024	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Common Stock
Subsidiary, Sale of Stock [Line Items]
Number of shares authorized					550,000,000	550,000,000	550,000,000
Common stock, par value (in dollars per share)					$ 0.01	$ 0.01	$ 0.01
Additional Paid-in Capital
Subsidiary, Sale of Stock [Line Items]
Increase in stockholders' deficit						$ 252.8	$ 759.4	$ 217.6
Subsequent Events
Subsidiary, Sale of Stock [Line Items]
Gross proceeds				$ 171.7
Subsequent Events | Additional Paid-in Capital
Subsidiary, Sale of Stock [Line Items]
Increase in stockholders' deficit				$ 108.7
Sales and Registration Agreement
Subsidiary, Sale of Stock [Line Items]
Number of shares authorized			50,000,000
Sales and Registration Agreement | Subsequent Events
Subsidiary, Sale of Stock [Line Items]
Shares issued		50,000,000
Forward purchase agreement
Subsidiary, Sale of Stock [Line Items]
Shares issued			30,000,000
Common stock, par value (in dollars per share)					$ 0.01	$ 0.01
Gross proceeds					$ 0.3
Potential maximum proceeds from sale of common stock						$ 38.5
Forward purchase agreement | Additional Paid-in Capital
Subsidiary, Sale of Stock [Line Items]
Increase in stockholders' deficit	[1]						$ 193.7
Forward purchase agreement | Subsequent Events
Subsidiary, Sale of Stock [Line Items]
Shares issued				30,000,000
Gross proceeds				$ 108.7
Forward purchase agreement | Minimum
Subsidiary, Sale of Stock [Line Items]
Price per share (in dollars per share)			$ 4.01
Forward purchase agreement | Maximum
Subsidiary, Sale of Stock [Line Items]
Price per share (in dollars per share)			$ 4.71
At-the-Market Offerings | AMC Preferred Equity Units
Subsidiary, Sale of Stock [Line Items]
Shares issued							7,100,000	20,800,000
Gross proceeds							$ 114.5	$ 228.8
At-the-Market Offerings | Subsequent Events
Subsidiary, Sale of Stock [Line Items]
Shares issued				17,100,000
[1] Includes $75.1 million of cash proceeds and $118.6 million carrying value of the debt exchanged for AMC Preferred Equity Units.

STOCKHOLDERS' DEFICIT - At-The-

STOCKHOLDERS' DEFICIT - At-The-Market Share Issuances (Details) - At-the-Market Offerings - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
AMC Preferred Equity Units
STOCKHOLDERS' EQUITY
Shares issued		7.1	20.8
Gross proceeds		$ 114.5	$ 228.8
Sales agent fees paid		2.9	5.7
Other third-party issuance costs incurred		8.8	5.5
Other third-party issuance costs paid		$ 11.7	$ 2.7
Common Stock
STOCKHOLDERS' EQUITY
Shares issued	75.5	88
Gross proceeds	$ 261.8	$ 675.5
Sales agent fees paid	6.4	16.9
Other third-party issuance costs incurred	1.9	1.1
Other third-party issuance costs paid	$ 0.8	$ 0.9

STOCKHOLDERS' DEFICIT - Antara

STOCKHOLDERS' DEFICIT - Antara Transactions (Details) - USD ($) $ in Millions			12 Months Ended
	Feb. 07, 2023	Dec. 22, 2022	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
STOCKHOLDERS' EQUITY
Accrued interest paid			$ 401.6	$ 421.2	$ 379
AMC Preferred Equity Units
STOCKHOLDERS' EQUITY
Net proceeds from AMC Preferred Equity Units issuance				$ 75.1
AMC Preferred Equity Units | At-the-Market Offerings | Antara Capital LP
STOCKHOLDERS' EQUITY
Number of shares sold		6,000,000
Value of shares sold		$ 34.9
Amount reclassified into additional paid-in capital		$ 34.9
AMC Preferred Equity Units | Forward purchase agreement | Antara Capital LP
STOCKHOLDERS' EQUITY
Number of shares sold	19,762,130	10,659,511
Value of shares sold		$ 75.1
Net proceeds from AMC Preferred Equity Units issuance	$ 75.1
Shares issued as consideration		9,102,619
Second Lien Notes | Forward purchase agreement | Antara Capital LP
STOCKHOLDERS' EQUITY
Debt instrument face amount	$ 100	$ 100
Cash interest rate (as a percent)	10%	10%
PIK interest rate (as a percent)	12%	12%
Accrued interest paid	$ 1.4
Second Lien Notes | AMC Preferred Equity Units | Forward purchase agreement | Antara Capital LP
STOCKHOLDERS' EQUITY
Increase in stockholders' deficit	$ 193.7

STOCKHOLDERS' DEFICIT - Stock-b

STOCKHOLDERS' DEFICIT - Stock-based compensation (Details) - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Jun. 05, 2024
Stock Based Compensation Expense
Stock-based compensation expense	$ 22	$ 42.5	$ 22.5
Total estimated unrecognized compensation cost related to nonvested stock-based compensation arrangements	$ 12
Weighted average period recognized	1 year 3 months 29 days
Board of director stock award expense
Stock Based Compensation Expense
Stock-based compensation expense	$ 1	0.9	0.8
2024 Equity Incentive Plan
Stock Based Compensation Expense
Number of shares authorized				25
Equity Classified Awards
Stock Based Compensation Expense
Stock-based compensation expense	21.9	42.1	22.5
Performance stock unit expense
Stock Based Compensation Expense
Stock-based compensation expense	6.5	6.7	8.4
Restricted stock unit expense
Stock Based Compensation Expense
Stock-based compensation expense	12.3	14.3	$ 13.3
Liability classified awards
Stock Based Compensation Expense
Stock-based compensation expense	0.1	0.4
Restricted and performance stock unit expense
Stock Based Compensation Expense
Stock-based compensation expense	$ 0.1	$ 0.4

STOCKHOLDERS' DEFICIT - Awards

STOCKHOLDERS' DEFICIT - Awards granted (Details) $ in Millions					12 Months Ended
	Feb. 22, 2024 shares	Aug. 25, 2023 shares	Feb. 23, 2023 USD ($) shares	Feb. 23, 2021 tranche shares	Dec. 31, 2024 USD ($) shares	Dec. 31, 2023 USD ($) tranche shares	Dec. 31, 2022 USD ($) tranche shares	Dec. 31, 2020 shares
STOCKHOLDERS' EQUITY
Conversion of share based payment awards into preferred stock					1
Conversion of convertible securities (in shares)		99,540,642
Conversion ratio of share based payment awards into common stock					1
Stock-based compensation expense | $					$ 22	$ 42.5	$ 22.5
Cumulative Adjusted EBITDA Target
STOCKHOLDERS' EQUITY
Percentage of performance targets and vesting level					98%
Cumulative Adjusted Free Cash Flow Target
STOCKHOLDERS' EQUITY
Percentage of performance targets and vesting level					200%
Board of Director
STOCKHOLDERS' EQUITY
Stock-based compensation expense | $					$ 1	0.9	0.8
2024 Performance share award
STOCKHOLDERS' EQUITY
Granted (in shares)					774,202
Stock value | $					$ 4
Percentage of performance target					100%
2023 Performance share award
STOCKHOLDERS' EQUITY
Granted (in shares)					105,357
Stock value | $					$ 0.5
Percentage of performance target					100%
2022 Performance share award
STOCKHOLDERS' EQUITY
Granted (in shares)					44,081
Stock value | $					$ 0.2
Percentage of performance target					100%
Restricted stock unit
STOCKHOLDERS' EQUITY
Stock-based compensation expense | $					$ 12.3	$ 14.3	$ 13.3
Performance Vesting | Members of management and executive officers
STOCKHOLDERS' EQUITY
Granted (in shares)				537,563		327,758	139,427
Number of tranches | tranche				3		3	3
Awards to be granted if target not achieved (in shares)						0
Performance Vesting | Members of management and executive officers | Minimum
STOCKHOLDERS' EQUITY
PSUs vesting as a percentage of performance target							80%
Percentage of performance target						50%	50%
Performance Vesting | Members of management and executive officers | Maximum
STOCKHOLDERS' EQUITY
PSUs vesting as a percentage of performance target							120%
Percentage of performance target						200%	200%
Performance stock unit expense
STOCKHOLDERS' EQUITY
Stock-based compensation expense | $					6.5	$ 6.7	$ 8.4
Special award
STOCKHOLDERS' EQUITY
Expected performance target to be achieved (as a percent)	200%		200%
Shares vested	478,055
Stock-based compensation expense | $					$ 2.1	20.2
Cash settled units
STOCKHOLDERS' EQUITY
Shares vested	21,829
Equity settled units
STOCKHOLDERS' EQUITY
Shares vested	456,226
2013 Equity Incentive Plan
STOCKHOLDERS' EQUITY
Conversion of convertible securities (in shares)					1
2013 Equity Incentive Plan | Restricted stock unit | Members of management
STOCKHOLDERS' EQUITY
Grant date fair value (in dollars) | $						$ 12.4	$ 13.6
2013 Equity Incentive Plan | Performance Vesting | Members of management and executive officers
STOCKHOLDERS' EQUITY
Percentage of performance target						100%
Awards to be granted upon achieving 100% of performance target (in shares)						327,758	139,427
Awards to be granted if target not achieved (in shares)							0
2024 Equity Incentive Plan | Restricted stock unit | Members of management
STOCKHOLDERS' EQUITY
Grant date fair value (in dollars) | $					$ 12
Members of management and executive officers | Performance Vesting
STOCKHOLDERS' EQUITY
Granted (in shares)					2,322,759			287,260
Awards to be granted upon achieving 100% of performance target (in shares)					2,322,759
Awards to be granted if target not achieved (in shares)					0
Period of cumulative adjusted EBITDA, diluted earnings per share, and net profit results to meet the performance target condition								3 years
Members of management and executive officers | Performance Vesting | Minimum
STOCKHOLDERS' EQUITY
PSUs vesting as a percentage of performance target					80%	80%
Percentage of performance target					50%
Members of management and executive officers | Performance Vesting | Maximum
STOCKHOLDERS' EQUITY
PSUs vesting as a percentage of performance target					120%	120%
Percentage of performance target					200%
Members of management and executive officers | 2024 Equity Incentive Plan | Performance Vesting
STOCKHOLDERS' EQUITY
Percentage of performance target					100%
Members of management | 2013 and 2024 Equity Incentive Plans | Restricted stock unit
STOCKHOLDERS' EQUITY
Vesting period (in years)					3 years
Vesting rights percentage					33%	33%	33%
Members of management | 2013 Equity Incentive Plan | Restricted stock unit
STOCKHOLDERS' EQUITY
Granted (in shares)						354,015	139,427
Number of days from the termination of service for settlement of fully vested units					30 days
Members of management | 2024 Equity Incentive Plan | Restricted stock unit
STOCKHOLDERS' EQUITY
Granted (in shares)					2,322,759
Common Stock | Board of Director
STOCKHOLDERS' EQUITY
Shares issued					202,392	8,560	4,165
Class A common stock | Special award
STOCKHOLDERS' EQUITY
Shares vested			238,959
Stock-based compensation expense | $			$ 14.9
AMC Preferred Equity Units | RSU and PSU Units
STOCKHOLDERS' EQUITY
Nonvested shares					63,748
AMC Preferred Equity Units | RSU and PSU Units | 2024 Tranche Year
STOCKHOLDERS' EQUITY
Nonvested shares					49,171
AMC Preferred Equity Units | RSU and PSU Units | 2025 Tranche Year
STOCKHOLDERS' EQUITY
Nongranted shares					14,577
AMC Preferred Equity Units | Special award
STOCKHOLDERS' EQUITY
Shares vested			238,959
Stock-based compensation expense | $			$ 5.3
AMC Preferred Equity Units | Board of Director
STOCKHOLDERS' EQUITY
Shares issued						15,376	4,165

STOCKHOLDERS' DEFICIT - RSU, PS

STOCKHOLDERS' DEFICIT - RSU, PSU activity (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Weighted Average Grant Date Fair Value
Taxes paid for restricted unit withholdings	$ 2.2	$ 14.2	$ 52.3
RSU and PSU | Class A common stock
Shares of RSU PSU and SPSU
Balance at the beginning of the period (in shares)	747,423	626,150	1,568,452
Granted (in shares)	3,604,916	517,067	167,679
Vested (in shares)	(246,982)	(222,920)	(563,634)
Forfeited (in shares)	(1,228)	(22,119)	(71,688)
Cancelled (in shares)	(228,015)	(150,755)	(474,659)
Nonvested at the end of the period (in shares)	3,876,114	747,423	626,150
Weighted Average Grant Date Fair Value
Balance at the beginning of the period (in dollars per share)	$ 44.35	$ 59.1	$ 39.6
Granted (in dollars per share)	5.11	36.73	97.5
Vested (in dollars per share)	43.84	57.43	35.9
Forfeited (in dollars per share)	36.26	45.32	58.6
Cancelled (in dollars per share)	43.86	60.14	35.9
Nonvested at the end of the period (in dollars per share)	$ 7.92	$ 44.35	$ 59.1
Tranche Years 2025 and 2026 awarded under the 2024 PSU award and Tranche Year 2025 awarded under the 2023 PSU award with grant date fair values to be determined in year 2025 and 2026, respectively	1,653,656
Total Nonvested at December 31, 2024	5,529,770
RSU and PSU | Special Award | Class A common stock
Shares of RSU PSU and SPSU
Granted (in shares)	456,226	477,918
Vested (in shares)	(242,360)	(257,945)
Cancelled (in shares)	(213,866)	(219,973)
Weighted Average Grant Date Fair Value
Granted (in dollars per share)	$ 4.42	$ 42.25
Vested (in dollars per share)	4.42	42.18
Cancelled (in dollars per share)	$ 4.42	$ 42.34
Special Performance Stock | Cumulative Adjusted EBITDA Target
Weighted Average Grant Date Fair Value
Percentage of performance target	98%
Special Performance Stock | Cumulative Adjusted Free Cash Flow Target
Weighted Average Grant Date Fair Value
Percentage of performance target	200%

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
INCOME TAXES
Effective income tax rate (as a percent)	(0.60%)	(0.90%)	(0.30%)
Net deferred tax liabilities	$ 33.9	$ 32.4

INCOME TAXES - Income tax provi

INCOME TAXES - Income tax provision (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Current:
Foreign	$ 2.4	$ 1.9	$ 0.9
State	(1.8)	0.8	(0.1)
Total current	0.6	2.7	0.8
Deferred:
Federal	0.5	0.4	0.3
Foreign	(0.3)	(0.2)	0.7
State	1.3	0.5	0.7
Deferred income taxes	1.5	0.7	1.7
Total provision	2.1	3.4	2.5
Pre-tax losses
Domestic	(192.4)	(216.7)	(685.8)
Foreign	(158.1)	(176.5)	(285.3)
Total	$ (350.5)	$ (393.2)	$ (971.1)

INCOME TAXES - Effective income

INCOME TAXES - Effective income tax rate on earnings (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Reconciliation of effective tax rate on earnings (loss) from continuing operations before income taxes and the U.S. federal income tax statutory rate
Income tax benefit at the federal statutory rate	$ (73.6)	$ (82.5)	$ (203.9)
Effect of:
State income taxes	(5.8)	(14.7)	(30.9)
Increase in reserve for uncertain tax positions		(0.2)
Federal and state credits	(1.5)	(1.3)	(2.5)
Permanent items - other	4.6	(17.6)	5.2
Foreign rate differential	(6.4)	(3.6)	(11)
Original issue discount			(152.5)
Other	0.3	1.2	(14.2)
Valuation allowance	84.5	122.1	412.3
Income tax provision	$ 2.1	$ 3.4	$ 2.5
Effective income tax rate (as a percent)	(0.60%)	(0.90%)	(0.30%)

INCOME TAXES - Deferred taxes (

INCOME TAXES - Deferred taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Assets
Accrued liabilities	$ 11.2	$ 13.8
Receivables	12.1	9.5
Investments	44.4	48
Capital loss carryforwards	4.6	5.4
Pension and deferred compensation	15.5	22.7
Corporate borrowings		41.9
Disallowed interest	663.2	515
Deferred revenue	163.2	163.4
Lease liabilities	1,077.5	1,169.8
Finance lease obligations		0.2
Other credit carryovers	31.1	28.3
Net operating loss carryforward	727.9	708
Total	2,750.7	2,726
Less: Valuation allowance	(1,711.5)	(1,641.3)	$ (1,513)
Net deferred income taxes	1,039.2	1,084.7
Liabilities
Tangible assets	(60.8)	(83.4)
Right-of-use assets	(831.5)	(914.3)
Intangible assets	(128)	(119.4)
Corporate borrowings	(52.8)
Total deferred income taxes	(1,073.1)	(1,117.1)
Rollforward of the Company's valuation allowance for deferred tax assets
Balance at Beginning of Period	1,641.3	1,513	1,114.1
Additions Charged to Expenses	84.5	122.1	412.3
Charged (Credited) to Other Accounts	(14.3)	6.2	(13.4)
Balance at End of Period	$ 1,711.5	$ 1,641.3	$ 1,513

INCOME TAXES - Income tax loss

INCOME TAXES - Income tax loss carryforward (Details) $ in Millions	12 Months Ended
	Dec. 31, 2024 USD ($)
Domestic
Income tax loss carryforward
Income tax loss carryforward	$ 1,742
Income tax loss carryforward subject to expiration	320.3
Income tax loss carryforward not subject to expiration	1,421.7
Foreign
Income tax loss carryforward
Income tax loss carryforward	945.4
State
Income tax loss carryforward
Income tax loss carryforward	2,688.1
Income tax loss carryforward subject to expiration	1,935.2
Income tax loss carryforward not subject to expiration	$ 752.9
State | Minimum
Income tax loss carryforward
Period of limitations on use	1 year
State | Maximum
Income tax loss carryforward
Period of limitations on use	20 years

INCOME TAXES - Unrecognized tax

INCOME TAXES - Unrecognized tax benefits (Details) $ in Millions	12 Months Ended
	Dec. 31, 2024 USD ($) item	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Reconciliation of the change in the amount of unrecognized tax benefits
Balance at beginning of period	$ 5.5	$ 7.4	$ 8.3
Gross decreases-expiration of statute of limitations		(1.9)	(0.9)
Balance at end of period	5.5	$ 5.5	$ 7.4
Unrecognized tax benefits	$ 0.1
Number of subsidiaries files income tax returns in the U.S. federal jurisdiction, and various state and foreign jurisdictions | item	1

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) $ / shares in Units, $ in Millions									12 Months Ended
	Aug. 24, 2023	Aug. 11, 2023	May 04, 2023 USD ($) item	Apr. 02, 2023	Feb. 20, 2023 item	Jan. 06, 2023 USD ($)	Nov. 30, 2022 USD ($)	Jun. 06, 2022 USD ($)	Dec. 31, 2024 USD ($) item	Dec. 31, 2023 USD ($)	Sep. 14, 2018 $ / shares
Commitments and contingencies line items
Settlement amount									$ 36.2
Stock split conversion ratio	0.1
Shareholder litigation charge										$ 99.3
Judicial Ruling
Commitments and contingencies line items
Amount received from legal settlement									$ 2.6
Shareholder Litigation
Commitments and contingencies line items
Number of actions | item					2				2
Stock split conversion ratio		0.1333		0.1333	0.10
Shareholder litigation charge										110.1
Insurance recoveries										10.8
Number of insurers against whom lawsuit filed | item			17
Maximum amount of coverage claimed under policy			$ 80
Excess amount deductible			10
Amount paid by the primary insurer			$ 5
Lao Action
Commitments and contingencies line items
Dividends declared | $ / shares											$ 1.55
Litigation fees and expenses							$ 3.4
Amount received from legal settlement						$ 14
Settlement amount								$ 17.4
Estimated Fair Value | Shareholder Litigation
Commitments and contingencies line items
Shareholder litigation charge										$ 99.3

FAIR VALUE MEASUREMENTS - Fair

FAIR VALUE MEASUREMENTS - Fair value on a recurring basis (Details) - USD ($) $ in Millions	Dec. 31, 2024	Jul. 22, 2024	Dec. 31, 2023
Other long-term assets:
Investment in marketable equity securities	$ 53.6		$ 56.4
Corporate Borrowings:
Derivative liability		$ 233.4
Derivative Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Long-Term Debt, Excluding Current Maturities
Recurring basis
Other long-term assets:
Total assets at fair value	$ 6.1		9.1
Corporate Borrowings:
Derivative liability	157.6
Total liabilities at fair value	157.6
Recurring basis | Investment in Hycroft Mining Holding Corporation Warrants
Other long-term assets:
Investment in warrants	0.8		3.3
Recurring basis | Hycroft
Other long-term assets:
Investment in marketable equity securities	5.3		5.8
Recurring basis | Quoted prices in active market (Level 1)
Other long-term assets:
Total assets at fair value	5.3		5.8
Recurring basis | Quoted prices in active market (Level 1) | Hycroft
Other long-term assets:
Investment in marketable equity securities	5.3		5.8
Recurring basis | Significant unobservable inputs (Level 3)
Other long-term assets:
Total assets at fair value	0.8		3.3
Corporate Borrowings:
Derivative liability	157.6
Total liabilities at fair value	157.6
Recurring basis | Significant unobservable inputs (Level 3) | Investment in Hycroft Mining Holding Corporation Warrants
Other long-term assets:
Investment in warrants	$ 0.8		$ 3.3

FAIR VALUE MEASUREMENTS - Nonre

FAIR VALUE MEASUREMENTS - Nonrecurring Fair Value Measurements (Details) $ in Millions	12 Months Ended
	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Nonrecurring Fair Value Measurements
Total loss on property owned, net	$ 72.3	$ 106.9	$ 133.1
Total loss on cost method investments recorded in investment expense (income)		1
Total Impairment loss	72.3	107.9	133.1
International Markets
Nonrecurring Fair Value Measurements
Total loss on property owned, net	20.4	57.7	59.7
U.S. Markets
Nonrecurring Fair Value Measurements
Total loss on property owned, net	$ 51.9	$ 49.2	$ 73.4
Discount yield | International Markets
Nonrecurring Fair Value Measurements
Derivative assets measurement	0.105	0.11
Discount yield | U.S. Markets
Nonrecurring Fair Value Measurements
Derivative assets measurement	0.09	0.09
Nonrecurring basis
Nonrecurring Fair Value Measurements
Total loss on property owned, net	$ 18.1	$ 30.3
Total loss on Operating lease right-of-use assets	54.2	76.6
Total loss on cost method investments recorded in investment expense (income)		1
Total Impairment loss	72.3	107.9
Total Carrying Value | Nonrecurring basis
Nonrecurring Fair Value Measurements
Property net	16.5	34.4
Operating lease right-of-use assets	45.6	93.5
Cost method investments		10.3
Total assets at fair value	62.1	138.2
Significant unobservable inputs (Level 3) | Nonrecurring basis
Nonrecurring Fair Value Measurements
Property net	16.5	34.4
Operating lease right-of-use assets	45.6	93.5
Cost method investments		10.3
Total assets at fair value	$ 62.1	$ 138.2

FAIR VALUE MEASUREMENTS - Valua

FAIR VALUE MEASUREMENTS - Valuation Techniques (Details) - USD ($) $ in Millions	Dec. 31, 2024	Jul. 22, 2024	Dec. 31, 2023
Fair value measurements
Corporate borrowings, carrying value	$ 4,010.9		$ 4,552.3
Significant other observable inputs (Level 2)
Fair value measurements
Corporate borrowings, fair value	$ 3,866.3		$ 3,674.7
Nonrecurring basis | Exchangeable Notes
Fair value measurements
Corporate borrowings, carrying value		$ 293.6
Nonrecurring basis | Exchangeable Notes | Significant other observable inputs (Level 2)
Fair value measurements
Corporate borrowings, fair value		$ 293.6

FAIR VALUE MEASUREMENTS - Other

FAIR VALUE MEASUREMENTS - Other Fair Value Measurement (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Other Fair Value Measurement Disclosures
Current maturities of corporate borrowings, carrying value	$ 64.2	$ 25.1
Corporate borrowings, carrying value	4,010.9	4,552.3
Total Carrying Value
Other Fair Value Measurement Disclosures
Current maturities of corporate borrowings, carrying value	64.2	25.1
Corporate borrowings, carrying value	3,853.3	4,552.3
Significant other observable inputs (Level 2)
Other Fair Value Measurement Disclosures
Current maturities of corporate borrowings, fair value	65	21.5
Corporate borrowings, fair value	$ 3,866.3	$ 3,674.7

SEGMENT REPORTING - Reconciliat

SEGMENT REPORTING - Reconciliation of segment revenues to Adjusted EBITDA: (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
SEGMENT REPORTING
Revenues	$ 4,637.2	$ 4,812.6	$ 3,911.4
Operating expense, excluding depreciation and amortization	1,674	1,689	1,520.4
Rent	873.6	873.5	886.2
General and administrative expense - other, excluding depreciation and amortization	204.8	199.4	185
Other segment items	(3.9)	(10)	(27.1)
Adjusted EBITDA	343.9	454.3	66.6
Admissions
SEGMENT REPORTING
Revenues	2,560.5	2,690.5	2,201.4
Operating costs and expenses	1,239.2	1,291.1	1,051.7
Food and beverage
SEGMENT REPORTING
Revenues	1,624.9	1,669.8	1,313.7
Operating costs and expenses	305.6	315.3	228.6
U. S. markets
SEGMENT REPORTING
Revenues	3,544.2	3,688.7	2,961.7
Operating expense, excluding depreciation and amortization	1,249	1,261.8	1,101.9
Rent	649.9	651.5	666.5
General and administrative expense - other, excluding depreciation and amortization	130.6	130.9	122.1
Other segment items	(1.3)	(3.8)	(3.8)
Adjusted EBITDA	301.5	391.1	78.5
U. S. markets | Admissions
SEGMENT REPORTING
Operating costs and expenses	988.8	1,023.3	831.4
U. S. markets | Food and beverage
SEGMENT REPORTING
Operating costs and expenses	225.7	233.9	165.1
International markets
SEGMENT REPORTING
Revenues	1,093	1,123.9	949.7
Operating expense, excluding depreciation and amortization	425	427.2	418.5
Rent	223.7	222	219.7
General and administrative expense - other, excluding depreciation and amortization	74.2	68.5	62.9
Other segment items	(2.6)	(6.2)	(23.3)
Adjusted EBITDA	42.4	63.2	(11.9)
International markets | Admissions
SEGMENT REPORTING
Operating costs and expenses	250.4	267.8	220.3
International markets | Food and beverage
SEGMENT REPORTING
Operating costs and expenses	$ 79.9	$ 81.4	$ 63.5

SEGMENT REPORTING - Other segme

SEGMENT REPORTING - Other segment disclosures (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
SEGMENT REPORTING
Depreciation and amortization	$ 319.5	$ 365	$ 396
Income tax provision	2.1	3.4	2.5
Other income	(143.8)	(69.1)
Other expense			(53.6)
Other significant noncash items:
Stock-based compensation expense	22	42.5	22.5
Impairment of long-lived assets	72.3	106.9	133.1
Equity in earnings of non-consolidated entities	12.4	7.7	(1.6)
Capital expenditures	245.5	225.6	202
U. S. markets
SEGMENT REPORTING
Depreciation and amortization	247.5	286.5	312.2
Income tax provision		1.8	0.9
Other income	(113.7)	(47.3)
Other expense			(52)
Other significant noncash items:
Stock-based compensation expense	20	38.3	20.3
Impairment of long-lived assets	51.9	49.2	73.4
Equity in earnings of non-consolidated entities	10.7	5.5	4.3
Capital expenditures	171.4	167	138.4
International markets
SEGMENT REPORTING
Depreciation and amortization	72	78.5	83.8
Income tax provision	2.1	1.6	1.6
Other income	(30.1)	(21.8)
Other expense			(1.6)
Other significant noncash items:
Stock-based compensation expense	2	4.2	2.2
Impairment of long-lived assets	20.4	57.7	59.7
Equity in earnings of non-consolidated entities	1.7	2.2	(5.9)
Capital expenditures	$ 74.1	$ 58.6	$ 63.6

SEGMENT REPORTING - Reconcili_2

SEGMENT REPORTING - Reconciliation (Details) $ in Millions	12 Months Ended
	Dec. 31, 2024 USD ($) item	Dec. 31, 2023 USD ($) item	Dec. 31, 2022 USD ($) item
SEGMENT REPORTING
Net loss	$ (352.6)	$ (396.6)	$ (973.6)
Income tax provision	2.1	3.4	2.5
Interest expense	443.7	411.2	378.7
Depreciation and amortization	319.5	365	396
Certain operating expense	5.4	2.5	8
Equity in (earnings) loss of non-consolidated entities	(12.4)	(7.7)	1.6
Attributable EBITDA	1.9	2.2	0.4
Investment expense (income)	(16.3)	(15.5)	14.9
Other expense (income)	(141.8)	(61.3)	80.4
General and administrative - unallocated:
Merger, acquisition and other costs	0.1	1.7	2.1
Stock-based compensation expense	22	42.5	22.5
Adjusted EBITDA	343.9	454.3	66.6
Vendor dispute settlement	(36.2)
Impairment of long-lived assets	72.3	106.9	133.1
(Gain) loss on extinguishment of debt	(38.9)	(142.8)	92.8
Term Loan modification - third party fees	42.3
Derivative stockholder settlement		(14)
Impairment of cost method investments recorded in investment expense (income)		1
Interest income	(19.2)	(15.3)	(5.9)
Hycroft
General and administrative - unallocated:
Decrease (increase) in fair value of investments	(0.4)	6.6	12.5
Increase (decrease) in fair value of investment in warrants	(2.5)	(6)	(6.2)
Exchangeable Notes
General and administrative - unallocated:
Decrease in fair value of the derivative liability	(75.8)
Attributable EBITDA
SEGMENT REPORTING
Income tax provision		0.1	0.1
Interest expense	0.1	0.2	0.1
Depreciation and amortization	1.3	1.4	2.8
Equity in (earnings) loss of non-consolidated entities	(12.4)	(7.7)	1.6
Equity in (earnings) loss of non-consolidated entities excluding International theatre joint ventures	(11.5)	(6.6)	(5.4)
Equity in earnings (loss) of International theatre joint ventures	0.9	1.1	(7)
Attributable EBITDA	1.9	2.2	0.4
Investment expense (income)	(0.4)	(0.6)	0.2
General and administrative - unallocated:
Impairment of long-lived assets			4.2
Other expense (income)
General and administrative - unallocated:
Vendor dispute settlement	(36.2)
(Gain) loss on extinguishment of debt	(38.9)	(142.8)	92.8
Term Loan modification - third party fees	42.3
Foreign currency transaction (gains) losses	7	(17.8)	(12.3)
Litigation fees and expenses		(99.3)
Derivative stockholder settlement	(40.2)
Decreases related to contingent lease guarantees			(0.2)
DCIP
SEGMENT REPORTING
Equity in (earnings) loss of non-consolidated entities			(3.4)
Saudi Cinema Company
SEGMENT REPORTING
Equity in (earnings) loss of non-consolidated entities			7.6
General and administrative - unallocated:
Equity in earnings related to sale		(15.5)
AC JV
SEGMENT REPORTING
Equity in (earnings) loss of non-consolidated entities	(10)	(4.9)
NCM
General and administrative - unallocated:
Realized loss on investment			13.5
Impairment of other assets recorded in investment expense (income)		1.8
International markets
SEGMENT REPORTING
Income tax provision	2.1	1.6	1.6
Depreciation and amortization	72	78.5	83.8
Equity in (earnings) loss of non-consolidated entities	(1.7)	(2.2)	5.9
General and administrative - unallocated:
Stock-based compensation expense	2	4.2	2.2
Adjusted EBITDA	$ 42.4	$ 63.2	$ (11.9)
Tangible asset impairment, number of theatres | item	23	57	53
Tangible asset impairment, number of screens | item	188	488	456
Impairment of long-lived assets	$ 20.4	$ 57.7	$ 59.7

SEGMENT REPORTING - Geographic

SEGMENT REPORTING - Geographic area & Narratives (Details) $ in Millions	12 Months Ended
	Dec. 31, 2024 USD ($) segment	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
SEGMENT REPORTING
Number of reportable segments | segment	2
Financial information by reportable operating segment
Revenues	$ 4,637.2	$ 4,812.6	$ 3,911.4
Long-term assets, net	7,300.3	7,806.1
U. S. markets | Operating Segments
Financial information by reportable operating segment
Long-term assets, net	5,474.2	5,795.6
International markets | Operating Segments
Financial information by reportable operating segment
Long-term assets, net	1,826.1	2,010.5
U.S. Markets
Financial information by reportable operating segment
Revenues	3,544.2	3,688.7	2,961.7
UK
Financial information by reportable operating segment
Revenues	408.8	400.9	379.3
Spain
Financial information by reportable operating segment
Revenues	143.3	148.2	114.6
Sweden
Financial information by reportable operating segment
Revenues	116.4	124.9	125
Italy
Financial information by reportable operating segment
Revenues	147.6	151.9	90.4
Germany
Financial information by reportable operating segment
Revenues	111.6	125.8	96.2
Finland
Financial information by reportable operating segment
Revenues	90.1	97.9	73.9
Ireland
Financial information by reportable operating segment
Revenues	32.5	32.2	27.3
Other foreign countries
Financial information by reportable operating segment
Revenues	$ 42.7	$ 42.1	$ 43

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE LOSS - Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Accumulated other comprehensive loss
Other comprehensive loss:	$ (53.8)	$ (0.9)	$ (49.2)
Accumulated Other Comprehensive Loss
Accumulated other comprehensive loss
Balance at the beginning of the period	(78.2)	(77.3)	(28.1)
Other comprehensive loss:	(53.8)	(0.9)
Balance at the end of the period	(132)	(78.2)	(77.3)
Foreign Currency
Accumulated other comprehensive loss
Balance at the beginning of the period	(77.7)	(78.8)
Other comprehensive income (loss)	(55.6)	1.1	(59.8)
Other comprehensive loss:	(55.6)	1.1
Balance at the end of the period	(133.3)	(77.7)	(78.8)
Pension Benefits
Accumulated other comprehensive loss
Balance at the beginning of the period	(0.5)	1.5
Other comprehensive loss:	1.8	(2)
Balance at the end of the period	$ 1.3	$ (0.5)	$ 1.5

ACCUMULATED OTHER COMPREHENSI_4

ACCUMULATED OTHER COMPREHENSIVE LOSS - OCI and tax effects (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Pre-Tax Amount
Other comprehensive income (loss)	$ (53.7)	$ (1.5)	$ (49.2)
Tax (Expense) Benefit
Other comprehensive income (loss)	(0.1)	0.6
Net-of-Tax Amount
Other comprehensive loss:	(53.8)	(0.9)	(49.2)
Foreign Currency
Pre-Tax Amount
Unrealized foreign currency translation adjustment	(55.5)	0.5	(59.8)
Tax (Expense) Benefit
Unrealized foreign currency translation adjustment	(0.1)	0.6
Net-of-Tax Amount
Unrealized foreign currency translation adjustment	(55.6)	1.1	(59.8)
Other comprehensive loss:	(55.6)	1.1
Pension and other benefit adjustments
Pre-Tax Amount
Unrealized foreign currency translation adjustment	1.8	(2)	10.6
Net-of-Tax Amount
Unrealized foreign currency translation adjustment	$ 1.8	$ (2)	$ 10.6

LOSS PER SHARE (Details)

LOSS PER SHARE (Details) $ / shares in Units, $ in Millions		12 Months Ended
	Aug. 24, 2023	Dec. 31, 2024 USD ($) $ / shares shares	Dec. 31, 2023 USD ($) $ / shares shares	Dec. 31, 2022 USD ($) $ / shares shares
LOSS PER SHARE
Stock split conversion ratio	0.1
Conversion ratio	0.1
Numerator:
Net Income (Loss) | $		$ (352.6)	$ (396.6)	$ (973.6)
Denominator (shares in thousands):
Weighted average shares for basic loss per common share		332,920,000	167,644,000	104,769,000
Weighted average shares for diluted loss per common share		332,920,000	167,644,000	104,769,000
Basic (in dollars per share) | $ / shares		$ (1.06)	$ (2.37)	$ (9.29)
Diluted (in dollars per share) | $ / shares		$ (1.06)	$ (2.37)	$ (9.29)
Exchangeable Notes
Denominator (shares in thousands):
Anti-dilutive securities not included in the computations of diluted earnings (loss) per share (in shares)		85,200,000
Restricted stock unit
Denominator (shares in thousands):
Anti-dilutive securities not included in the computations of diluted earnings (loss) per share (in shares)		1,662,429	272,469	252,336

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - USD ($) $ in Millions			1 Months Ended		12 Months Ended
	Jan. 15, 2025	Dec. 06, 2024	Jan. 31, 2025	Dec. 31, 2024	Dec. 31, 2024	Dec. 31, 2023
Forward purchase agreement
SUBSEQUENT EVENTS
Gross proceeds				$ 0.3
Shares issued		30,000,000
At-the-Market Offerings | Common Stock
SUBSEQUENT EVENTS
Gross proceeds					$ 261.8	$ 675.5
Sales agent fees paid					$ 6.4	$ 16.9
Shares issued					75,500,000	88,000,000
Subsequent Events
SUBSEQUENT EVENTS
Gross proceeds			$ 171.7
Subsequent Events | Forward purchase agreement
SUBSEQUENT EVENTS
Gross proceeds			$ 108.7
Shares issued			30,000,000
Subsequent Events | At-the-Market Offerings
SUBSEQUENT EVENTS
Sales agent fees paid			$ 0.6
Shares issued			17,100,000
Subsequent Events | Sales and Registration Agreement
SUBSEQUENT EVENTS
Shares issued	50,000,000