Cinemark Investor Presentation
FY 2023 Non-GAAP Measure Reconciliations
Reconciliation of Net Income/(Loss) to
Reconciliation of Cash Flows
CINEMARK™
Adjusted EBITDA 1)
2023
2022
2019
Net Income/(Loss)
$191
$(268)
$194
Cash flows provided by (used for)
operating activities
Provided by Operating Activities to Free Cash Flow 1)
2023
2022
2019
$444
$136
$562
Add (deduct):
Deduct:
Income taxes
30
3
80
Capital Expenditures
Interest expense
2) 3)
150
155
100
Other (income) expense, net
4)
(20)
24
(22)
Free Cash Flow
149
111
304
$295
$25
$258
Cash distributions from equity investees 5)
6
7
53
Depreciation and amortization
210
238
261
Impairment of long-lived and other assets
17
174
57
(Gain)/Loss on disposal of assets and other
(8)
(7)
12
Loss on extinguishment and refinancing
Non-cash rent expense
11
2023
2022
2019
(18)
(11)
Total Revenues 1)
$3,067 $2,455 $3,283
Share based awards compensation expense
25
22
15
6)
Adjusted EBITDA
1)
594
337
745
Adjusted EBITDA
$594
$336
$745
Adjusted EBITDA Margin
19.4%
13.7% 22.7%
223756
1)
In millions
2)
3)
Includes amortization of debt issue costs, amortization of original issue discount and amortization of accumulated (gains) losses for amended swap agreements.
Amounts for 2019 were impacted by the adoption of ASC Topic 842 and the resulting change in the classification of certain of the Company's leases.
4)
5)
Includes interest income, foreign currency exchange and other related gain (loss), interest expense - NCM and equity in income (loss) of affiliates and unrealized gain on investment in NCM.
Includes cash distributions received from equity investees that were recorded as a reduction of the respective investment balances. These distributions are reported entirely within the U.S. operating segment.
6) Non-cash expense included in general and administrative expenses.
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