v3.21.2
STOCKHOLDERS' EQUITY (Tables)
6 Months Ended
Jun. 30, 2021
STOCKHOLDERS' EQUITY  
Schedule of gross proceeds from equity

"At-the-market" Equity Distribution Agreement Dates

Sales Agents

Number of Class A common stock shares sold (in millions) (1)

Gross Proceeds (in millions)

December 11, 2020

Goldman Sachs & Co. LLC and B. Riley Securities, Inc. (2)

137.07

$

352.6

January 25, 2021

Goldman Sachs & Co. LLC and B. Riley Securities, Inc.

50.0

244.3

April 27, 2021

Goldman Sachs & Co. LLC, B. Riley Securities, Inc. and Citigroup Global Markets Inc.

43.0

427.5

June 3, 2021

B. Riley Securities, Inc. and Citigroup Global Markets Inc.

11.55

587.4

Total

241.62

$

1,611.8

(1)Included in the Class A common stock shares sold of 43.0 million was the reissuance of treasury stock shares of
approximately 3.7 million shares. Upon the sales of treasury stock, the Company reclassified amounts recorded in treasury stock to additional paid-in capital of $37.1 million and loss of $19.3 million to retained earnings.
(2)On December 11, 2020, the Company entered into an equity distribution agreement with Goldman Sachs & Co. LLC and B. Riley Securities, Inc., as sales agents to sell up to 178.0 million shares of the Company’s Class A common stock, of which approximately 40.93 million shares of Class A common stock were sold and settled during December 2020 and approximately 137.07 million shares of Class A common stock were sold and settled during the six months ended June, 2021.
Schedule of the Dividends and Dividend Equivalents Paid

Amount per

Total Amount

    

    

    

Share of

    

Declared

Declaration Date

Record Date

Date Paid

Common Stock

(In millions)

February 26, 2020

March 9, 2020

March 23, 2020

$

0.03

$

3.2

Summary of stock based compensation

Three Months Ended

Six Months Ended

(In millions)

June 30, 2021

June 30, 2020

June 30, 2021

June 30, 2020

Board of director stock award expense

$

$

$

0.9

$

0.5

Restricted stock unit expense

3.5

3.0

5.7

5.0

Performance stock unit expense

3.4

4.2

Special performance stock unit expense

1.5

0.7

3.0

0.9

Total stock-based compensation expense

$

8.4

$

3.7

$

13.8

$

6.4

Schedule of Nonvested RSU, PSU and SPSU Activity

    

    

Weighted

Average

Shares of RSU

Grant Date

PSU and SPSU

Fair Value

Beginning balance at January 1, 2021 (1)

4,159,261

$

6.27

Granted (2)

4,864,460

7.70

Forfeited

(173,561)

11.91

Nonvested at June 30, 2021

8,850,160

$

6.95

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

1,791,977

Total Nonvested at June 30, 2021

10,642,137

(1)Includes awards modified during 2020 where grant date fair value was not determined until 2021.
(2)The number of PSU shares granted under the Tranche Year 2021 assumes the Company will attain a performance target at 200% for the Adjusted EBITDA target and 160% 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 2021 awards granted under the 2021 and 2020 PSU award and 30% to 200% for Tranche Year 2021 awards granted under the 2019 PSU award.
Schedule of Stockholder's Equity

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)

Taxes paid for restricted unit withholdings

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)

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

951.6

(3,732,625)

56.4

(19.3)

989.2

989.2

Class A common stock issuance to Mudrick

8,500,000

0.1

230.3

230.4

230.4

Stock-based compensation

8.4

8.4

8.4

Balances June 30, 2021

513,330,240

$

5.1

$

$

4,847.4

$

$

8.2

$

(6,265.4)

$

(1,404.7)

$

$

(1,404.7)

Accumulated

Class A Voting

Class B Voting

Additional

Other

Total

Common Stock

Common Stock

Paid-in

Treasury Stock

Comprehensive

Accumulated

Stockholders’

(In millions, except share and per share data)

    

Shares

    

Amount

    

Shares

    

Amount

    

Capital

Shares

    

Amount

    

Loss

    

Deficit

    

Equity (Deficit)

Balances December 31, 2019

52,080,077

$

0.5

51,769,784

$

0.5

$

2,001.9

3,732,625

$

(56.4)

$

(26.1)

$

(706.2)

$

1,214.2

Cumulative effect adjustment for the adoption of new accounting principle (ASU 2016-13)

(16.9)

(16.9)

Net loss

(2,176.3)

(2,176.3)

Other comprehensive loss

(93.5)

(93.5)

Dividends declared:

Class A common stock, $0.03/share, net of forfeitures

(1.6)

(1.6)

Class B common stock, $0.03/share

(1.6)

(1.6)

Taxes paid for restricted unit withholdings

(1.0)

(1.0)

Stock-based compensation

469,516

2.7

2.7

Balances March 31, 2020

52,549,593

$

0.5

51,769,784

$

0.5

$

2,003.6

3,732,625

$

(56.4)

$

(119.6)

$

(2,902.6)

$

(1,074.0)

Net loss

(561.2)

(561.2)

Other comprehensive income

56.0

56.0

Class A common stock, accrued dividend equivalent adjustment

0.1

0.1

Stock-based compensation

3.7

3.7

Balances June 30, 2020

52,549,593

$

0.5

51,769,784

$

0.5

$

2,007.3

3,732,625

$

(56.4)

$

(63.6)

$

(3,463.7)

$

(1,575.4)