v3.22.2.2
STOCKHOLDERS' EQUITY (Tables)
9 Months Ended
Sep. 30, 2022
STOCKHOLDERS' EQUITY  
Summary of stock based compensation

Three Months Ended

Nine Months Ended

September 30,

September 30,

September 30,

September 30,

(In millions)

2022

2021

2022

2021

Board of directors stock award expense

$

$

$

0.8

$

0.9

Restricted stock unit expense

3.5

3.4

9.8

9.1

Performance stock unit expense

(7.1)

11.7

4.2

Special performance stock unit expense

1.6

4.6

Total stock-based compensation expense

$

(3.6)

$

5.0

$

22.3

$

18.8

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)

15,683,466

$

3.96

Granted (2)

2,480,644

9.77

Vested

(5,599,690)

3.59

Forfeited

(716,872)

5.87

Cancelled (3)

(4,716,556)

3.58

Nonvested at September 30, 2022

7,130,992

$

6.34

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

2,523,692

Total Nonvested at September 30, 2022

9,654,684

(1)Includes awards modified during 2020 where grant date fair value was not determined until 2022.
(2)The number of PSU shares granted under the Tranche Year 2022 assumes the Company will attain a performance target at 50% for the Adjusted EBITDA target and 75% for 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.
(3)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 nine months ended September 30, 2022.
Schedule of Stockholder's Equity

Preferred Stock

Series A Convertible

Accumulated

Participating

Depositary Shares of

Additional

Other

Total

Class A Common Stock

Preferred Stock

AMC Preferred

Paid-in

Comprehensive

Accumulated

Stockholders’

(In millions, except share and per share data)

    

Shares

    

Amount

    

Shares (2)

Equity Units (2)

    

Amount

Capital

Loss

    

Deficit

    

Equity (Deficit)

Balances December 31, 2021

513,979,100

$

5.1

5,139,791

513,979,100

$

0.1

$

4,857.4

$

(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

28,415

2,841,495

6.5

6.6

Balances March 31, 2022

516,820,595

$

5.2

5,168,206

516,820,595

$

0.1

$

4,811.7

$

(33.9)

$

(6,961.4)

$

(2,178.3)

Net loss

(121.6)

(121.6)

Other comprehensive income

(46.3)

(46.3)

Stock-based compensation

19.4

19.4

Balances June 30, 2022

516,820,595

$

5.2

5,168,206

516,820,595

$

0.1

$

4,831.1

$

(80.2)

$

(7,083.0)

$

(2,326.8)

Net loss

(226.9)

(226.9)

Other comprehensive income

(26.0)

(26.0)

AMC Preferred Equity Units issuance

2,700,000

27,000

2,700,000

4.3

4.3

Stock-based compensation

(3.6)

(3.6)

Balances September 30, 2022

519,520,595

$

5.2

5,195,206

519,520,595

$

0.1

$

4,831.8

$

(106.2)

$

(7,309.9)

$

(2,579.0)

(1)Includes 41,650 Class A common stock shares awarded to the Board of Directors, 2,799,845 vested RSUs and PSUs, and 2,841,495 AMC Preferred Equity Units.
(2)Share counts have been retroactively adjusted to reflect the effect of the stock split.

Preferred Stock

Series A Convertible

Depositary Shares

Accumulated

Participating

of AMC

Additional

Other

Total AMC

Class A and Class B Common Stock

Preferred Stock

Preferred Equity

Paid-in

Treasury Stock

Comprehensive

Accumulated

Stockholders’

Noncontrolling

Total

(In millions, except share and per share data)

    

Shares

    

Amount

    

Shares (1)

Units (1)

    

Amount

Capital

Shares (1)

    

Amount

    

Income (Loss)

    

Deficit

    

Deficit

Interests

Deficit

Balances December 31, 2020

224,333,033

$

2.3

2,243,330

224,333,033

$

0.1

$

2,465.5

7,465,250

$

(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

1,870,663

187,066,293

579.8

581.6

581.6

Convertible Notes due 2026 stock conversion

44,422,860

0.4

444,229

44,422,860

606.1

606.5

606.5

Wanda forfeit and cancellation of Class B shares

(5,666,000)

(56,660)

(5,666,000)

Stock-based compensation

124,054

1,241

124,054

5.4

5.4

5.4

Balances March 31, 2021

450,280,240

$

4.5

4,502,803

450,280,240

$

0.1

$

3,657.0

7,465,250

$

(56.4)

$

(12.3)

$

(5,902.3)

$

(2,309.4)

$

22.4

$

(2,287.0)

Net loss

(343.6)

(343.6)

(0.4)

(344.0)

Other comprehensive income

21.4

21.4

21.4

100% liquidation of Baltics

(0.9)

(0.9)

(22.0)

(22.9)

Class A common stock, accrued dividend equivalent adjustment

(0.2)

(0.2)

(0.2)

Class A common stock issuance

54,550,000

0.5

545,500

54,550,000

951.6

(7,465,250)

56.4

(19.3)

989.2

989.2

Class A common stock issuance to Mudrick

8,500,000

0.1

85,000

8,500,000

230.3

230.4

230.4

Stock-based compensation

8.4

8.4

8.4

Balances June 30, 2021

513,330,240

$

5.1

5,133,303

513,330,240

$

0.1

$

4,847.3

$

$

8.2

$

(6,265.4)

$

(1,404.7)

$

$

(1,404.7)

Net loss

(224.2)

(224.2)

(224.2)

Other comprehensive loss

(18.8)

(18.8)

(18.8)

Class A common stock, accrued dividend equivalent adjustment

0.1

0.1

0.1

Class A common stock issuance fees

(0.1)

(0.1)

(0.1)

Stock-based compensation

5.0

5.0

5.0

Balances September 30, 2021

513,330,240

$

5.1

5,133,303

513,330,240

$

0.1

$

4,852.2

$

$

(10.6)

$

(6,489.5)

$

(1,642.7)

$

$

(1,642.7)

(1)Share counts have been retroactively adjusted to reflect the effect of the stock split.