v3.22.1
STOCKHOLDERS' EQUITY (Tables)
3 Months Ended
Mar. 31, 2022
STOCKHOLDERS' EQUITY  
Summary of stock based compensation

Three Months Ended

March 31,

March 31,

(In millions)

2022

2021

Board of director stock award expense

$

0.8

$

0.9

Restricted stock unit expense

2.8

2.2

Performance stock unit expense

2.9

0.8

Special performance stock unit expense

1.5

Total stock-based compensation expense

$

6.5

$

5.4

Schedule of Nonvested RSU, PSU and SPSU Activity

    

    

Weighted

Average

Shares of RSU

Grant Date

and PSU

Fair Value

Nonvested at January 1, 2022 (1)

7,841,733

$

7.92

Granted

1,796,125

19.60

Vested

(2,799,845)

7.17

Forfeited

(195,720)

11.33

Cancelled (2)

(2,358,278)

7.16

Nonvested at March 31, 2022 (3)

4,284,015

$

13.57

Tranche Years 2023 and 2024 awarded under the 2022 PSU award and Tranche Year 2023 awarded under the 2021 PSU award with grant date fair values to be determined in years 2023 and 2024, respectively

1,296,860

Total Nonvested at March 31, 2022

5,580,875

(1)Includes awards modified during 2020 where grant date fair value was not determined until 2022.
(2)Represents vested RSUs and PSUs surrendered in lieu of taxes and cancelled awards returned to the 2013 Equity Incentive plan. As a result, the Company paid taxes for restricted unit withholdings of approximately $52.2 million during the three months ended March 31, 2022.
(3)The number of PSU shares granted under the Tranche Year 2022 assumes the Company will attain a performance target at 100% for both the Adjusted EBITDA target and the free cash flow target. The PSUs vest ratably based on a scale ranging from 80% to 120% of the performance target with the vested amount ranging from 50% to 200% for Tranche Year 2022 awards granted under the 2022, 2021 and 2020 PSU awards.
Schedule of Stockholder's Equity

Accumulated

Class A Voting

Additional

Other

Total

Common Stock

Paid-in

Comprehensive

Accumulated

Stockholders’

(In millions, except share and per share data)

    

Shares

    

Amount

    

Capital

Loss

    

Deficit

    

Equity (Deficit)

Balances December 31, 2021

513,979,100

$

5.1

$

4,857.5

$

(28.1)

$

(6,624.0)

$

(1,789.5)

Net loss

(337.4)

(337.4)

Other comprehensive loss

(5.8)

(5.8)

Taxes paid for restricted unit withholdings

(52.2)

(52.2)

Stock-based compensation (1)

2,841,495

0.1

6.5

6.6

Balances March 31, 2022

516,820,595

$

5.2

$

4,811.8

$

(33.9)

$

(6,961.4)

$

(2,178.3)

(1)Includes 41,650 shares awarded to Board of Directors and 2,799,845 vested RSUs and PSUs.

Accumulated

Class A Voting

Class B Voting

Additional

Other

Total AMC

Common Stock

Common Stock

Paid-in

Treasury Stock

Comprehensive

Accumulated

Stockholders’

Noncontrolling

Total

(In millions, except share and per share data)

    

Shares

    

Amount

    

Shares

    

Amount

    

Capital

Shares

    

Amount

    

Income (Loss)

    

Deficit

    

Equity (Deficit)

Interests

Deficit

Balances December 31, 2020

172,563,249

$

1.8

51,769,784

$

0.5

$

2,465.6

3,732,625

$

(56.4)

$

38.7

$

(5,335.3)

$

(2,885.1)

$

26.9

$

(2,858.2)

Net loss

(566.9)

(566.9)

(0.3)

(567.2)

Other comprehensive loss

(51.0)

(51.0)

(0.2)

(51.2)

Baltics noncontrolling capital contribution

0.2

0.2

(4.0)

(3.8)

Class A common stock, accrued dividend equivalent adjustment

(0.1)

(0.1)

(0.1)

Class A common stock issuance

187,066,293

1.8

579.8

581.6

581.6

Wanda conversion of Class B shares to Class A shares

46,103,784

0.5

(46,103,784)

(0.5)

Convertible Notes due 2026 stock conversion

44,422,860

0.4

606.1

606.5

606.5

Wanda forfeit and cancellation of Class B shares

(5,666,000)

Stock-based compensation

124,054

5.4

5.4

5.4

Balances March 31, 2021

450,280,240

$

4.5

$

$

3,657.1

3,732,625

$

(56.4)

$

(12.3)

$

(5,902.3)

$

(2,309.4)

$

22.4

$

(2,287.0)