v3.25.0.1
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