Financial Analysis

17. Commitments and Contingencies From time to time, the Company is involved in various legal proceedings arising from the ordinary course of its business operations, such as personal injury claims, employment matters, patent claims, landlord-tenant disputes, contractual disputes with landlords over certain termination rights and other contractual disputes, some of which are covered by insurance. The Company believes its potential liability with respect to proceedings currently pending is not material, individually or in the aggregate, to the Companys financial position, results of operations and cash flows. Gerardo Rodriguez, individually and on behalf of a class of all others similarly situated vs Cinemark USA, Inc. and Cinemark Holdings, Inc., et al. This class action lawsuit was filed against the Company on February 24, 2023 in the Cook County Circuit Court in Illinois alleging violation of the Fair and Accurate Credit Transactions Act. The plaintiff voluntarily dismissed the lawsuit in June 2026. Lakenya Neal, individually and on behalf of a class of all others similarly situated vs. Cinemark USA, Inc. and Cinemark Holdings, Inc., et al. On May 14, 2026, plaintiff refiled a putative class action lawsuit against the Company in the Superior Court of California, Los Angeles County, alleging violations of the Fair and Accurate Credit Transactions Act. Plaintiffs previously filed a substantially similar action in California state court on December 10, 2021, which plaintiff vo …

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"The following tables present revenue for the periods indicated, disaggregated based on major type of good or service and by reportable segment. Three Months Ended Six Months Ended June 30, 2026 June 30, 2026 U.S. International U.S. International Reportable Reportable Reportable Reportable Segment (1) Segment Consolidated Segment (1) Segment Consolidated Admissions revenue $ 434.4 $ 105.6 $ 540.0 $ 688.2 $ 163.2 $ 851.4 Concession revenue 348.9 84.4 433.3 555.7 132.8 688.5 Screen advertising, screen rental and promotional revenue 25.8 19.1 44.9 48.1 30.4 78.5 Other revenue 50.9 17.3 68.2 82.7 28.4 111.1 Total revenue $ 860.0 $ 226.4 $ 1,086.4 $ 1,374.7 $ 354.8 $ 1,729.5 Three Months Ended Six Months Ended June 30, 2025 June 30, 2025 U.S. International U.S. International Reportable Reportable Reportable Reportable Segment (1) Segment Consolidated Segment (1) Segment Consolidated Admissions revenue $ 383.4 $ 83.7 $ 467.1 $ 591.0 $ 140.2 $ 731.2 Concession revenue 307.6 70.1 377.7 472.0 116.1 588.1 Screen advertising, screen rental and promotional revenue 24.6 14.5 39.1 45.5 26.0 71.5 Other revenue 43.7 12.9 56.6 67.9 22.5 90.4 Total revenue $ 759.3 $ 181.2 $ 940.5 $ 1,176.4 $ 304.8 $ 1,481.2 (1) U.S. segment revenue excludes intercompany transactions with the international reportable segment. See Note 15 for the amount of intercompany eliminations for the periods presented. The following tables present revenue for the periods indicated, disaggregated based on timing of recognit …

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9. Treasury Stock and Share-Based Awards Treasury Stock - Holdings Treasury stock represents shares of common stock repurchased by Holdings and not yet retired. The Company has applied the cost method in recording its treasury shares. Below is a summary of Holdings treasury stock activity for the six months ended June 30, 2026: Number of Treasury Shares Cost Balance at January 1, 2026 34.37 $ 539.8 Repurchases of common stock (1) 0.95 25.3 Restricted stock withholdings (2) 0.78 20.5 Restricted stock forfeitures (3) 0.03 Balance at June 30, 2026 36.13 $ 585.6 (1) Holdings repurchased outstanding common shares under a share repurchase program. See Share Repurchase Program below. (2) Holdings withheld shares as a result of the election by certain employees to satisfy their tax liabilities upon vesting of restricted stock, performance stock units and restricted stock units with shares. Holdings determined the number of shares to be withheld based upon market values of Holdings common stock on the vest dates, which ranged from $ 22.9 7 to $ 33.80 per share. (3) Holdings repurchased forfeited restricted shares at a cost of $ 0.001 per share in accordance with the 2024 Long-Term Incentive Plan. As of June 30, 2026, Holdings had no plans to retire any shares of treasury stock. Share Repurchase Program On October 30, 2025, Holdings Board of Directors approved a share repurchase program authorizing repurchases of up to $ 300.0 of Holdings outstanding stock, before direct costs. The pro …

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12. Fair Value Measurements The Company determines fair value measurements in accordance with ASC Topic 820, which establishes a fair value hierarchy under which an asset or liability is categorized based on the lowest level of input significant to its fair value measurement. The levels of input defined by ASC Topic 820 are as follows: Level 1 quoted market prices in active markets for identical assets or liabilities that are accessible at the measurement date; Level 2 other than quoted market prices included in Level 1 that are observable for the asset or liability, either directly or indirectly; and Level 3 unobservable and should be used to measure fair value to the extent that observable inputs are not available. Below is a summary of assets and liabilities measured at fair value on a recurring basis under FASB ASC Topic 820 as of June 30, 2026 and December 31, 2025. Carrying Fair Value Hierarchy Description As of Value Level 1 Level 2 Level 3 Interest rate swap assets (1) June 30, 2026 $ 5.1 $ $ 5.1 $ Investment in NCMI (2) June 30, 2026 $ 16.6 $ 16.6 $ $ Interest rate swap assets (1) December 31, 2025 $ 0.7 $ $ 0.7 $ Investment in NCMI (2) December 31, 2025 $ 17.0 $ 17.0 $ $ (1) See further discussion of interest rate swaps at Note 7. (2) See further discussion of investment in NCMI at Note 8. See additional explanation of fair value measurement techniques used for long-lived assets, goodwill and intangible assets in Note 1 to the consolidated financial statements inclu …

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10. Goodwill and Other Intangible Assets A summary of the Company's goodwill is as follows: U.S. Reportable Segment International Reportable Segment Total Balance at January 1, 2026 (1) $ 1,182.9 $ 62.9 $ 1,245.8 Foreign currency translation adjustments 2.6 2.6 Balance at June 30, 2026 (1) $ 1,182.9 $ 65.5 $ 1,248.4 (1) Balances are presented net of accumulated impairment losses of $ 214.0 for the U.S. reportable segment and $ 43.8 for the international reportable segment. See discussion of the qualitative impairment analysis performed by the Company as of June 30, 2026 at Note 11. There were no changes in the Companys intangible assets during the six months ended June 30, 2026 . …

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18. Income Taxes The One Big Beautiful Bill Act (OBBBA) was signed into law on July 4, 2025. The OBBBA makes permanent certain expiring provisions of the Tax Cuts and Jobs Act and restores favorable tax treatment for certain business provisions including 100 % bonus depreciation and the business interest expense limitation. The OBBBA also includes adjustments to the calculation of certain international framework provisions, which were initially established by the Tax Cuts and Jobs Act. The OBBBA has multiple effective dates, with certain provisions effective in 2025 and others implemented through 2027. The OBBBA did not have a material impact on the Companys effective tax rate for the six months ended June 30, 2026. The Company is currently under IRS audit for tax years 2019 and 2020. On June 11, 2025, the IRS issued a revised Revenue Agent Report (RAR) proposing an income tax adjustment related to positions reported in each year. The balance sheet impact related to the tax years under audit, which includes a refund held in suspense, is estimated to be $ 65.0 before interest and penalties. The Company firmly disagrees with the conclusions presented by the IRS and believes the positions reported on its tax returns that have not been reserved for are more likely than not to prevail on technical merits. The Company intends to vigorously defend its reported positions through the applicable IRS administrative and judicial procedures, as appropriate. The Company regularly assesses …

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7. Long-Term Debt Long-term debt consisted of the following for the periods presented: June 30, December 31, 2026 2025 Cinemark USA, Inc. term loan due May 2030 $ 629.1 $ 632.3 Cinemark USA, Inc. 5.25% senior notes due July 2028 765.0 765.0 Cinemark USA, Inc. 7.00% senior notes due August 2032 500.0 500.0 Total long-term debt carrying value $ 1,894.1 $ 1,897.3 Less: Current portion, net of unamortized debt issuance costs 6.3 6.4 Less: Debt issuance costs and original issue discount, net of accumulated amortization 17.3 21.7 Long-term debt, less current portion, net of unamortized debt issuance costs and original issue discount $ 1,870.5 $ 1,869.2 Senior Secured Credit Facility On May 12, 2026, CUSA amended and restated its senior secured credit facility (the Credit Agreement) to reduce the rate at which the term loan bears interest by 0.25 % and reset the 101 % soft call for another six months. CUSA incurred a total of approximately $ 0.9 in debt issuance costs in connection with the amendment, which are reflected in the condensed consolidated financial statements as follows: (i) $ 0.6 in debt issuance costs were capitalized and are reflected as a reduction of Long-term debt, less current portion on the Companys condensed consolidated balance sheet, and (ii) $ 0.3 of legal and other fees are included in Loss on debt amendments and extinguishments in the Companys condensed consolidated statement of income for the three and six months ended June 30, 2026 . As a result of the am …

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16. Related Party Transactions A subsidiary of the Company manages a theater for Laredo Theatre, Ltd. (Laredo). The Company is the sole general partner and owns 75 % of the limited partnership interests of Laredo. Lone Star Theatres, Inc. owns the remaining 25 % of the limited partnership interests in Laredo and is 100 % owned by Mr. David Roberts, who is Lee Roy Mitchells son-in-law and Kevin Mitchells brother-in-law. Lee Roy Mitchell, our founder, owns, both directly and indirectly, approximately 8.5 % of Holdings common stock and Kevin Mitchell is a member of Holdings Board of Directors. Under the agreement, management fees are paid by Laredo to the Company at a rate of 5 % of annual theater revenue. The Company recorded $ 0.4 and $ 0.4 of management fee revenue during the six months ended June 30, 2026 and 2025, respectively. All such amounts are included in the condensed consolidated statements of income, with the intercompany amounts eliminated in consolidation. During the six months ended June 30, 2026 and 2025, the Company paid excess cash distributions of $ 0.4 and $ 0.4 , respectively, to Lone Star Theatres, Inc. as required by the partnership agreement, which were recorded as a reduction of noncontrolling interests on each of Holdings and CUSAs condensed consolidated balance sheets. A subsidiary of the Company leases 12 theaters from Syufy Enterprises, LP (Syufy) or affiliates of Syufy. Raymond Syufy is one of Holdings' directors and is an officer of the general pa …

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4. Revenue Recognition The Companys patrons have the option to purchase movie tickets well in advance of a movie showtime, right before the movie showtime, or at any point in between those two timeframes depending on seat availability. The Company recognizes such admissions revenue when the showtime for a purchased movie ticket has passed. Concession revenue is recognized when products are sold to the consumer at the theater, or if purchased online in advance, either through the Companys website, its mobile application, or through a third-party delivery service, once the consumers order is fulfilled. Other revenue primarily consists of screen advertising, screen rental revenue, gaming revenue, promotional income, studio trailer placements and transactional fees. Except for National CineMedia, LLC (NCM) screen advertising advances discussed in Note 8, these revenues are generally recognized when the Company has fulfilled its performance obligations by providing the services specified in each contract. The Company sells gift cards and discount ticket vouchers, the proceeds from which are recorded as deferred revenue. Deferred revenue for gift cards and discount ticket vouchers is recognized when they are redeemed for concession items, or if redeemed for movie tickets, when the movie showtime has passed. The Company generally records breakage revenue on unredeemed gift cards and discount ticket vouchers based on redemption activity and historical experience associated with unuse …

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15. Segments - Holdings The international market and U.S. market are managed as separate reportable segments , with the international segment consisting of operations in Brazil, Argentina, Chile, Colombia, Peru, Honduras, El Salvador, Nicaragua, Costa Rica, Panama, Guatemala, Bolivia, and Paraguay. Each segments revenue is derived from admissions and concession sales and other ancillary revenue. Holdings uses Adjusted EBITDA, as shown in the tables below, as the primary measure of segment profit and loss to evaluate performance and allocate its resources. The Companys chief operating decision makers are the chief executive officer and the chief financial officer (together the CODM). The CODM uses Adjusted EBITDA for each segment in the annual budget and forecasting process. The CODM considers actual Adjusted EBITDA with comparisons to budget, forecast and trends when making decisions about the allocation of operating and capital resources to each segment. The CODM also uses Adjusted EBITDA to assess the performance of each segment and in determining the incentive compensation under its short-term incentive plan and evaluating performance metrics for certain equity awards. The Company does not report total assets by segment because that information is not used to evaluate the performance of, or allocate resources between, segments. The following tables set forth a breakdown of selected financial information by reportable segment for Holdings for the periods presented, and incl …

SegmentReportingDisclosureTextBlock · excerpt; the full note is in the filing