Forward-Looking Statements





In addition to historical information, this Quarterly Report on Form 10-Q
contains "forward-looking statements" within the meaning of the "safe harbor"
provisions of the United States Private Securities Litigation Reform Act of
1995. Forward-looking statements may be identified by the use of words such as
"may," "will," "forecast," "estimate," "project," "intend," "plan," "expect,"
"should," "believe" and other similar expressions that predict or indicate
future events or trends or that are not statements of historical matters.
Examples of forward-looking statements include statements we make regarding the
impact of COVID-19 and our liquidity. These forward-looking statements are based
only on our current beliefs, expectations and assumptions regarding the future
of our business, future plans and strategies, projections, anticipated events
and trends, the economy and other future conditions and speak only as of the
date on which it is made. These forward-looking statements involve known and
unknown risks, uncertainties, assumptions and other factors, including those
discussed in "Risk Factors" and "Management's Discussion and Analysis of
Financial Condition and Results of Operations," which may cause our actual
results, performance or achievements to be materially different from any future
results, performance or achievements expressed or implied by such
forward-looking statements. These risks and uncertainties include, but are not
limited to, the following:



the impact of the COVID-19 virus on us, the motion picture exhibition industry,

and the economy in general, including our response to the COVID-19 virus

? related to suspension of operations at our theatres, personnel reductions and

other cost-cutting measures and measures to maintain necessary liquidity and

increases in expenses relating to precautionary measures at our facilities to


   protect the health and well-being of our customers and employees;



the manner, timing and amount of benefit we receive under the Coronavirus Aid,

? Relief, and Economic Security Act (the "CARES Act") or other applicable

governmental benefits and support for which we are eligible domestically and


   internationally;




? risks relating to impairment losses, including with respect to goodwill and

other intangibles, and theatre and other closure charges;

? risks relating to motion picture production and performance;

? our lack of control over distributors of films;

? intense competition in the geographic areas in which we operate;

? increased use of alternative film delivery methods including premium video on

demand or other forms of entertainment;

? shrinking exclusive theatrical release windows;

? AMC Stubs® A-List may not meet anticipated revenue projections which could


   result in a negative impact upon operating results;



general and international economic, political, regulatory, social and financial

? market conditions and other risks including the effects of the exit of the

United Kingdom from the European Union;

? risks and uncertainties relating to our significant indebtedness, including our

borrowing capacity under our revolving credit agreements;

? our ability to execute cost cutting and revenue enhancement initiatives as

previously disclosed and in connection with response to COVID-19;

? limitations on the availability of capital may prevent us from deploying


   strategic initiatives;




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? certain covenants in the agreements that govern our indebtedness may limit our

ability to take advantage of certain business opportunities;

? our ability to achieve expected synergies, benefits and performance from our

strategic theatre acquisitions and strategic initiatives;

? our ability to refinance our indebtedness on terms favorable to us or at all;

? optimizing our theatre circuit through new construction and the transformation

of our existing theatres may be subject to delay and unanticipated costs;

? failures, unavailability or security breaches of our information systems;

? our ability to utilize interest expense deductions may be limited annually due

to Section 163(j) of the Tax Cuts and Jobs Act of 2017;

? our ability to recognize interest deduction carryforwards and net operating

loss carryforwards to reduce our future tax liability;

? our ability to recognize certain international deferred tax assets which

currently do not have a valuation allowance recorded;

? impact of the elimination of the calculation of USD LIBOR rates on our

contracts indexed to USD LIBOR:

? review by antitrust authorities in connection with acquisition opportunities;

? risks relating to the incurrence of legal liability, including costs associated


   with recently filed securities class action lawsuits;



dependence on key personnel for current and future performance and our ability

? to attract and retain senior executives and other key personnel, including in

connection with any future acquisitions;

? risks of poor financial results may prevent us from deploying strategic


   initiatives;



? operating a business in international markets AMC is unfamiliar with, including

acceptance by movie-goers of AMC initiatives that are new to those markets;

increased costs in order to comply or resulting from failure to comply with

? governmental regulation, including the General Data Protection Regulation

("GDPR"), the California Consumer Privacy Act and pending future domestic


   privacy laws and regulations;



geopolitical events, including the threat of terrorism or cyber-attacks, or

? widespread health emergencies, such as the novel coronavirus or other pandemics

or epidemics, causing people to avoid our theatres or other public places where


   large crowds are in attendance;



the ability to obtain suitable equity and/or debt financing and the continued

? availability of financing, in the amounts and on the terms necessary to support

our future refinancing requirements and business; and

? other risks referenced from time to time in filings with the SEC.


This list of factors that may affect future performance and the accuracy of
forward-looking statements is illustrative but not exhaustive. In addition, new
risks and uncertainties may arise from time to time. Accordingly, all
forward-looking statements should be evaluated with an understanding of their
inherent uncertainty and we caution accordingly against relying on
forward-looking statements.

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Readers are urged to consider these factors carefully in evaluating the
forward-looking statements. For further information about these and other risks
and uncertainties as well as strategic initiatives, see Item 1A. "Risk Factors"
of Part II of this Form 10-Q and Item 1A. "Risk Factors," and Item 1. "Business"
in our Annual Report on Form 10-K for the year ended December 31, 2019, and our
other public filings.

All subsequent written and oral forward-looking statements attributable to us or
persons acting on our behalf are expressly qualified in their entirety by these
cautionary statements. The forward-looking statements included herein are made
only as of the date of this Quarterly Report on Form 10-Q, and we do not
undertake any obligation to release publicly any revisions to such
forward-looking statements to reflect events or circumstances after the date
hereof or to reflect the occurrence of unanticipated events.

Temporarily Suspended Operations





As of or before March 17, 2020, we temporarily suspended all theatre operations
in our U.S. markets and International markets in compliance with local, state,
and federal governmental restrictions and recommendations on social gatherings
to prevent the spread of COVID-19 and as a precaution to help ensure the health
and safety of our guests and theatre staff. As a result of these temporarily
suspended operations, our revenues and expenses for the three and six months
ended June 30, 2020 are significantly lower than our revenues and expenses for
the three and six months ended June 30, 2019. The theatre operations in the U.S.
markets remained suspended for the entire second quarter of 2020. We resumed
limited operations in the International markets in early June. As of June 30,
2020, we had resumed operations at 37 theatres in nine countries in our
International markets and recorded attendance of 100,000 guests during the three
months ended June 30, 2020. On July 23, 2020, we announced we are currently
planning to reopen our U.S. movie theatres in mid to late August 2020. In
International markets, as of the end of July 2020, we already have resumed
operations in more than 130 theatres in all of the countries we serve in Europe
and the Middle East.

Overview



AMC is the world's largest theatrical exhibition company and an industry leader
in innovation and operational excellence. We operate theatres in 15 countries
and are the market leader in nine of those.

Our theatrical exhibition revenues are generated primarily from box office
admissions and theatre food and beverage sales. The balance of our revenues are
generated from ancillary sources, including on-screen advertising, fees earned
from our AMC Stubs® customer frequency membership program, rental of theatre
auditoriums, income from gift card and exchange ticket sales, online ticketing
fees and arcade games located in theatre lobbies. As of June 30, 2020, we owned,
operated or had interests in 978 theatres and 10,833 screens.

Film Content





Box office admissions are our largest source of revenue. We predominantly
license "first-run" films from distributors owned by major film production
companies and from independent distributors on a film-by-film and
theatre-by-theatre basis. Film exhibition costs are accrued based on the
applicable admissions revenues and estimates of the final settlement pursuant to
our film licenses. Licenses that we enter into typically state that rental fees
are based on aggregate terms established prior to the opening of the picture. In
certain circumstances and less frequently, our rental fees are based on a
mutually agreed settlement upon the conclusion of the picture. In certain
circumstances and less frequently, our rental fees are established on a weekly
basis for the coming week's percentage forecast. Some European licenses use a
per capita agreement instead, paying a flat amount per ticket, where the sum is
agreed in advance of the film showing. Under an aggregate terms formula, we pay
the distributor a specified percentage of box office gross or pay based on a
scale of percentages tied to different amounts of box office gross, or in
Europe, we pay based on the number of weeks since release. The settlement
process allows for negotiation based upon how a film actually performs.

Our revenues attributable to individual distributors may vary significantly from
year to year depending upon the commercial success of each distributor's films
in any given year. Our results of operations may vary significantly from quarter
to quarter and from year to year based on the timing and popularity of film

releases.

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Movie Screens



During the six months ended June 30, 2020, we opened one new theatre with
eight screens, added five additional screens to existing theatres, permanently
closed 214 screens, temporarily closed 18 screens to install consumer experience
upgrades and reopened 11 screens to install consumer experience upgrades.

The following table provides details of our theatre circuit by segment for the
periods indicated:


                                               U.S. Markets                International Markets
                                        Number of        Number of       Number of        Number of
                                      Screens As of    Screens As of   Screens As of    Screens As of
Format                                June 30, 2020    June 30, 2019   June 30, 2020    June 30, 2019
IMAX®                                           188              188              35               30
Dolby CinemaTM                                  150              138               5                3

Other Premium Large Format ("PLF")               55               51       

      71               66
Dine-in theatres                                725              668               8                2
Premium seating                               3,282            3,029             470              447






Guest Amenities


We seek to upgrade the quality of our theatre circuit through substantial renovations featuring our seating concepts, acquisitions, new builds (including expansions), expansion of food and beverage offerings (including dine-in theatres), and by disposing of older screens through closures and sales.



Recliner seating is the key feature of theatre renovations, which drive a 34%
increase in attendance, on average, at these locations in their first year post
renovation. These renovations, in conjunction with capital contributions from
our landlords, involve stripping theatres to their basic structure in order to
replace finishes throughout, upgrade the sight and sound experience, install
modernized points of sale and, most importantly, replace traditional theatre
seats with plush, electric recliners that allow customers to deploy a leg rest
and fully recline at the push of a button.

As of June 30, 2020, in our U.S. markets we now feature recliner seating in approximately 343 U.S. theatres, including Dine-in-Theatres, totaling approximately 3,282 screens and representing 41.2% of total U.S. screens. In our International markets, we have recliner seating in approximately 74 International theatres, totaling approximately 470 screens and representing 16.4% of total International screens.



Open-source internet ticketing makes our AMC seats (over 1.1 million) in all our
U.S. theatres and auditoriums, for all our showtimes as available as possible,
on as many websites as possible. Our tickets are sold over the internet,
directly or through mobile apps, at our own website and app, and other
third-party ticketing vendors.

Food and beverage sales are our second largest source of revenue after box
office admissions. Food and beverage items traditionally include popcorn, soft
drinks, candy and hot dogs. Different varieties of food and beverage items are
offered at our theatres based on preferences in the particular geographic
region. Our traditional food and beverage strategy emphasizes prominent and
appealing food and beverage offerings designed for rapid service and efficiency,
including a customer friendly self-serve experience.

To address recent consumer trends, we have expanded our menu of enhanced food
and beverage products to include made-to-order drinks and meals, customized
coffee, healthy snacks, premium beers, wine and mixed drinks, flatbread pizzas,
more varieties of hot dogs, four flavors of popcorn and other menu items. We
operate 51 Dine-In Theatres in the U.S. and two Dine-In Theatres in Europe that
deliver chef-inspired menus with seat-side or delivery service to luxury
recliners with tables.



Loyalty Programs and Other Marketing





In our U.S. markets, we begin the process of engagement with AMC Stubs® our
customer loyalty program which allows members to earn rewards, receive discounts
and participate in exclusive members-only offerings and services. It features a
traditional paid tier called AMC Stubs Premiere™ for a $15 annual membership fee
and a non-

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paid tier called AMC Stubs Insider™. Both programs reward loyal guests for their
patronage of AMC theatres. Rewards earned are redeemable on future purchases at
AMC locations.

The portion of the admissions and food and beverage revenues attributed to the
rewards is deferred as a reduction of admissions and food and beverage revenues
and is allocated between admissions and food and beverage revenues based on
expected member redemptions. Upon redemption, deferred rewards are recognized as
revenues along with associated cost of goods. We estimate point breakage in
assigning value to the points at the time of sale based on historical trends.
The program's annual membership fee is allocated to the material rights for
discounted or free products and services and is initially deferred, net of
estimated refunds, and recognized as the rights are redeemed based on estimated
utilization, over the one-year membership period in admissions, food and
beverage, and other revenues. A portion of the revenues related to a material
right are deferred as a virtual rewards performance obligation using the
relative standalone selling price method and are recognized as the rights are
redeemed or expire.

AMC Stubs® A-List is our monthly subscription-based tier of the AMC Stubs®
loyalty program. This program offers guests admission to movies at AMC up to
three times per week including multiple movies per day and repeat visits to
already seen movies for $19.95 to $23.95 per month depending upon geographic
market. AMC Stubs® A-List also includes premium offerings including IMAX®, Dolby
Cinema™ at AMC, RealD, Prime and BigD. AMC Stubs® A-List members can book
tickets on-line in advance and select specific seats at AMC Theatres with
reserved seating.

As of June 30, 2020, we had more than 23,100,000 member households enrolled in
AMC Stubs® A-List, AMC Stubs Premiere™ and AMC Stubs Insider™ programs,
combined.

In our International markets, we currently have loyalty programs in the major
territories in which we operate. The movie-goers can earn points for spending
money at the theatre, and those points can be redeemed for tickets and
concession items at a later date. Odeon currently has more than 8,700,000
members in these various loyalty programs. We are currently evaluating the Odeon
loyalty programs to determine how best to reward our European movie-goers and
heighten guest loyalty to drive additional attendance to Odeon theatres. The
programs have been paused during the suspension of operations at all of our
theatres.

Our marketing efforts are not limited to our loyalty programs as we continue to
improve our customer connections through our website and mobile apps and expand
our online and movie offerings. In select markets during 2019, we upgraded our
mobile applications with the ability to order food and beverage offerings via
our mobile applications while ordering tickets ahead of scheduled showtimes.
Also, in 2019, we launched AMC Theatres On Demand, a new service where members
of the AMC Stubs® loyalty program can rent or buy movies. We believe our
competitive advantage of a robust and easy-to-use online and mobile presence
combined with an effective loyalty program that provides better market
intelligence to anticipate customers' future behavior should allow us to capture
incremental share of both entertainment dollars and time.

Critical Accounting Policies and Estimates





Long-lived Assets Impairments. We evaluate indefinite-lived intangible assets
for impairment annually or more frequently as specific events or circumstances
dictate. We operate in a very competitive business environment and our revenues
are highly dependent on movie content supplied by film producers. In addition,
it is common for us to closely monitor certain locations where operating
performance may not meet our expectations.

We review long-lived assets, including definite-lived intangible assets and
theatre assets (including operating lease right-of-use assets) whenever events
or changes in circumstances indicate that the carrying amount of the asset group
may not be fully recoverable. We identify impairments related to internal use
software when management determines that the remaining carrying value of the
software will not be realized through future use. We evaluate events or
circumstances, including competition in the markets where we operate that would
indicate the carrying value of theatre assets may not be fully recoverable. We
evaluate theatres using historical and projected data of theatre level cash flow
as our primary indicator of potential impairment and consider the seasonality of
our business when making these evaluations. If an event or circumstance is
identified indicating carrying value may not be recoverable, the sum of future
undiscounted cash flows is compared to the carrying value. If carrying value
exceeds the future undiscounted cash flows, the carrying value of the asset is
reduced to fair value. Assets are evaluated for impairment on an individual
theatre basis, which management believes is the lowest level for which there are
identifiable cash flows. The fair value of assets is determined as either the
expected selling price less selling costs (where appropriate) or the present
value of the estimated future cash flows, adjusted as necessary for market

participant factors.

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We recorded impairment charges primarily related to long-lived assets and
definite lived intangible assets of $0 and $106.5 million during the six months
ended June 30, 2020, respectively. There are a number of estimates and
significant judgments that are made by management in performing these impairment
evaluations. Such judgments and estimates include estimates of future
attendance, revenues, rent relief, cost savings, cash flows, capital
expenditures, and the cost of capital, among others. Attendance is expected to
be significantly below historical levels for the first several months following
reopening but is expected to increase as customers become more comfortable with
the experience. We believe we have used reasonable and appropriate business
judgments. There is considerable management judgment with respect to cash flow
estimates and appropriate discount rates to be used in determining fair value,
and, accordingly, actual results could vary significantly from such estimates,
which fall under Level 3 within the fair value measurement hierarchy. These
estimates determine whether impairments have been incurred, and quantify the
amount of any related impairment charge. Given the nature of our business and
our recent history, future impairments are possible and they may be material,
based upon business conditions that are constantly changing and the competitive
business environment in which we operate.

During the three and six months ended June 30, 2020, we recorded non-cash
impairment of long-lived assets of $0 and $81.4 million on 57 theatres in the
U.S. markets with 658 screens (in Alabama, Arkansas, California, District of
Columbia, Florida, Georgia, Illinois, Indiana, Iowa, Kentucky, Michigan,
Minnesota, Missouri, Montana, New Hampshire, New Jersey, New York, North
Carolina, North Dakota, Ohio, Pennsylvania, South Dakota, Tennessee, Texas,
Washington, Wisconsin and Wyoming), respectively, and $0 and $9.9 million on
23 theatres in the International markets with 213 screens (in Germany, Italy,
Spain, UK and Sweden), respectively. During the three and six months ended June
30, 2020, we recorded impairment losses related to definite-lived intangible
assets of $0 and $8.0 million, respectively. In addition, we recorded an
impairment loss of $0 and $7.2 million within investment expense (income),
related to equity interest investments without a readily determinable fair value
accounted for under the cost method during the three and six months ended June
30, 2020, respectively.

At March 31, 2020, we performed a quantitative impairment evaluation of our
indefinite-lived intangible assets related to the AMC, Odeon and Nordic
tradenames and recorded impairment charges of $0 and $5.9 million related to
Odeon tradenames and $0 and $2.4 million related to Nordic for the three and six
months ended June 30, 2020, respectively. To estimate fair value of our
indefinite-lived trade names, we employed a derivation of the Income Approach
known as the Royalty Savings Method. The Royalty Savings Method values an
intangible asset by estimating the royalties saved through ownership of the
asset. We applied royalty rates of 0.5% for AMC and Odeon tradenames and 1.0%
for Nordic to the related theatre revenues on an after-tax basis using effective
tax rates. Related cash flows were discounted at 12.5% for AMC and 14.0% for
Odeon and Nordic.

Goodwill. We evaluate the goodwill recorded at our two reporting units (Domestic
Theatres and International Theatres) for impairment annually as of the beginning
of the fourth fiscal quarter or more frequently as specific events or
circumstances dictate. Our market capitalization has been below carrying value
since May 24, 2019.

In performing the Step 1 quantitative goodwill impairment test as of March 31,
2020, we used an enterprise value approach to measure fair value of the
reporting units. The enterprise fair values of the Domestic Theatres and
International Theatres reporting units were less than their carrying values and
a goodwill impairment charge of $1,124.9 million and $619.4 million was recorded
as of March 31, 2020 for our Domestic Theatres and International Theatres
reporting units, respectively.

In accordance with ASC 350-20-35-30, we performed an assessment to determine
whether there were any events or changes in circumstances that would warrant an
interim ASC 350 impairment analysis as of June 30, 2020. Given the temporary
suspension of operations during the second quarter of 2020, we performed a
qualitative impairment test to evaluate whether it is more likely than not that
the fair value of our two reporting units is less than their respective carrying
amounts as of June 30, 2020. We compared key assumptions utilized in our
quantitative analysis as of March 31, 2020 to those that existed as of the
second quarter. Our considerations included changes during the quarter due to
macroeconomic, industry, and entity specific factors. We also observed the
increase in the Company's common stock price and the fair value of corporate
borrowings as of June 30, 2020 in comparison to March 31, 2020 noting that our
estimated fair value of our corporate borrowings and finance lease obligations
represents approximately 74% of our market enterprise value. In considering the
totality of the aforementioned factors, we have concluded that it is not more
likely than not that the fair value of our two reporting units has been reduced
below their respective carrying amounts. As a result, we concluded that an
interim quantitative impairment test as of June 30, 2020 was not required.

The quantitative goodwill impairment test performed as of March 31, 2020 indicated our estimated enterprise



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fair value to our market enterprise value implied a premium of 22.7%.


We believe a significant reason for the difference in our market enterprise
value as compared to our estimated enterprise fair value is due to a market
participant acquisition premium. We believe a market participant acquisition
premium is applicable and has been historically realized in our industry. In the
event of an acquisition of control of our enterprise by another market
participant, this premium for control would likely be realized in the form of
increased revenue opportunities, lower costs, better working capital terms and
lower cost of capital. We believe the uncertainty around the temporary
suspension of our theatre operations during the COVID-19 pandemic and the
behavior of the movie-going public after we resume operations is a significant
reason for the difference in our market enterprise value as compared to our
estimated enterprise fair value.

Key assumptions used in the quantitative impairment test performed at March 31,
2020 were as follows:


                                                       March 31, 2020
                                                 Domestic     International
Description                                      Theatres       Theatres
Income approach:
Weighted average cost of capital/discount rate    11.5%           13.0%
Long-term growth rate                              2.0%           2.0%




While the fair values of our reporting units approximate their respective
carrying values at the present time, the performance of the reporting units may
require improvement in future periods to maintain this level. Declines in the
operating performance of our Domestic and International Theatres, further
declines in the fair value of our debt, further declines in the trading price of
our Class A common stock, small changes in certain key input assumptions, and/or
other events or circumstances could occur and could have a significant impact on
the estimated fair values. Examples of adverse events or circumstances that
could change include (i) the ultimate duration of the COVID-19 pandemic and the
prolonged temporary suspension of our theatre operations as well as the behavior
of the movie-going public after we resume operations; (ii) an adverse change in
macroeconomic conditions; (iii) increased cost factors that have a negative
effect on our earnings and cash flows; (iv) negative or overall declining
financial performance compared with our actual and projected results of relevant
prior periods; (v) further declines in the fair value of our debt, and (vi) a
further sustained decrease in our share price. A future impairment could result
for a portion of the goodwill, long-lived assets or intangible assets. Any
impairment charges that we may take in the future could be material to our
results of operations and financial condition.

Significant Event

Stock Buyback Program. On February 27, 2020, we announced that our Board of Directors had authorized a $200.0 million Company share buyback program to repurchase up to $200.0 million of our Class A common stock over a three-year period.



Repurchases may be made at management's discretion from time to time through
open-market transactions including block purchases, through privately negotiated
transactions, or otherwise over the next three years in accordance with all
applicable securities laws and regulations. The extent to which AMC repurchases
its shares, and the timing of such repurchases, will depend upon a variety of
factors, including liquidity, capital needs of the business, market conditions,
regulatory requirements, and other corporate considerations, as determined by
AMC's management team. Repurchases may or may not be made under a Rule 10b5-1
plan, which would permit common stock to be repurchased when our management
might otherwise be precluded from doing so under insider trading laws. The
repurchase program does not obligate us to repurchase any minimum dollar amount
or number of shares and may be suspended for periods or discontinued at any
time. Since April 24, 2020, we are prohibited from making purchases under our
recently authorized stock repurchase program in accordance with the covenant
suspension conditions in our Senior Secured Credit Agreement.

Exchange Offers. On July 31, 2020, we closed our previously announced exchange
offer and reduced the principal amount of our senior subordinated notes by
approximately $555 million. We raised $300 million in additional cash from
incremental first lien financing, prior to deducting discounts and cash premiums
based on contract assumptions and estimates of $36 million. Additionally,
certain backstop purchasers in the first lien notes offering that participated
in the exchange offer received 5 million Class A common shares. The closing

of
the exchange offer also

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allowed us to change maturities on approximately $1.7 billion of debt to 2026,
most of which was maturing in 2024 and 2025 previously. Interest due for the
coming 12 to 18 months on the Second Lien Notes due 2026 is expected to be paid
all or in part on an in-kind basis, thereby generating a further near-term cash
savings for us of between approximately $120 million and $180 million. See Note
14-Subsequent Events in the Notes to the Condensed Consolidated Financial
Statements under Item 1 of Part I of this Form 10-Q for further information.

Under ASC 840-470-60, Troubled Debt Restructurings by Debtors, we believe the
exchange of approximately $2,017.5 million principal amount of our senior
subordinated notes for approximately $1,462.3 million principal amount of second
lien secured debt will represent a troubled debt restructuring ("TDR") as we
were experiencing financial difficulties and the lenders granted a concession.
We do not expect the TDR will result in a gain recognition, a new effective
interest rate will be established based on the carrying value of the senior
subordinated notes and we expect new fees paid to third parties of approximately
$29.7 million will be expensed. We are currently evaluating the impact on our
consolidated financial statements.





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Operating Results



The following table sets forth our consolidated revenues, operating costs and
expenses.


                                        Three Months Ended                                 Six Months Ended

(In millions)                    June 30, 2020      June 30, 2019     % Change     June 30, 2020      June 30, 2019     % Change
Revenues
Admissions                      $           0.9    $         895.5      (99.9) %  $         568.9    $       1,627.0      (65.0) %
Food and beverage                           0.4              492.5      (99.9) %            288.5              861.3      (66.5) %
Other theatre                              17.6              118.1      (85.1) %            103.0              218.2      (52.8) %
Total revenues                  $          18.9    $       1,506.1

(98.7) % $ 960.4 $ 2,706.5 (64.5) % Operating Costs and Expenses Film exhibition costs

           $           0.2    $         482.5     

(100.0) % $ 271.9 $ 847.8 (67.9) % Food and beverage costs

                     4.5               76.4      (94.1) %             57.9              137.9      (58.0) %
Operating expense, excluding
depreciation and
amortization below                        114.8              437.4      (73.8) %            471.7              840.2      (43.9) %
Rent                                      224.1              245.9       (8.9) %            461.9              487.9       (5.3) %
General and administrative:
Merger, acquisition and
other costs                                 1.8                3.2      (43.8) %              2.0                6.5      (69.2) %
Other, excluding
depreciation and
amortization below                         25.4               43.2      (41.2) %             58.6               89.4      (34.5) %
Depreciation and
amortization                              119.7              112.0         6.9 %            242.2              225.0         7.6 %
Impairment of long-lived
assets, indefinite-lived
intangible assets and
goodwill                                      -                  -           * %          1,851.9                  -           * %
Operating costs and expenses              490.5            1,400.6      (65.0) %          3,418.1            2,634.7        29.7 %
Operating income (loss)                 (471.6)              105.5           * %        (2,457.7)               71.8           * %
Other expense (income):
Other expense (income):                   (6.6)             (23.4)      (71.8) %             20.3                6.4           * %
Interest expense:
Corporate borrowings                       79.6               74.2         7.3 %            150.9              145.5         3.7 %
Finance lease obligations                   1.5                2.1      (28.6) %              3.1                4.2      (26.2) %
Non-cash NCM exhibitor
service agreement                          10.1               10.1           - %             20.0               20.3       (1.5) %
Equity in (earnings) loss of
non-consolidated entities                  12.4             (10.2)           * %             15.3             (16.7)           * %
Investment expense (income)               (1.3)              (2.1)      (38.1) %              8.1             (18.2)           * %
Total other expense, net                   95.7               50.7        88.8 %            217.7              141.5        53.9 %
Earnings (loss) before
income taxes                            (567.3)               54.8           * %        (2,675.4)             (69.7)           * %
Income tax provision
(benefit)                                 (6.1)                5.4           * %             62.1               11.1           * %
Net earnings (loss)             $       (561.2)    $          49.4           * %  $     (2,737.5)    $        (80.8)           * %


* Percentage change in excess of 100%




                                   Three Months Ended                       Six Months Ended
                             June 30, 2020    June 30, 2019           June 30, 2020   June 30, 2019
Operating Data:
Screen additions                         -               16                      13              37
Screen acquisitions                      -               64                       -              64
Screen dispositions                    140               36                     214             104
Construction openings
(closures), net                          -              (3)                     (7)            (52)
Average screens (1)                     60           10,675                   4,467          10,679
Number of circuit screens           10,833           11,036                  10,833          11,036
Number of circuit
theatres                               978            1,004                     978           1,004
Screens per theatre                   11.1             11.0                    11.1            11.0
Attendance (in thousands)
(1)                                    100           96,955                  60,595         176,780


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Includes consolidated theatres only and excludes screens offline due to


 (1) construction and temporary suspension of operations as consequence of the
     COVID-19 pandemic.




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