← National CineMedia, Inc.
| Annual Trend | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | FY 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash flows from operating activities: | ||||||||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||||
| Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | $2.5m | $29.8m | $36.1m | ($65.4m) | ($48.7m) | ($28.7m) | $705.2m | ($22.3m) | ($10.6m) | — | — | |
| Net Income (Loss) Attributable to Noncontrolling Interest | $56.2m | $50.4m | $50.6m | ($60.9m) | ($69.7m) | ($37.5m) | ($8.5m) | $0 | $0 | — | — | |
| Depreciation and amortization | $37.6m | $39.9m | $13.6m | $13.1m | $10.9m | $6.5m | — | — | — | — | $37.0m | |
| Amortization of Debt Issuance Costs | $2.6m | $2.6m | $2.6m | $2.5m | $4.1m | $8.9m | $3.4m | $800k | $400k | $400k | — | |
| Amortization of Intangible Assets | $26.5m | $27.3m | $26.7m | $24.6m | $24.7m | $25.0m | $22.4m | $37.8m | $33.3m | — | — | |
| Depreciation | $10.9m | $12.6m | — | — | — | — | — | — | — | — | $5.0m | |
| Depreciation, Nonproduction | — | — | — | — | — | — | $3.1m | $4.6m | $4.6m | — | $37.0m | |
| Depreciation expense | $11.0m | $12.6m | $13.6m | $13.1m | $10.9m | $6.5m | $3.1m | $4.6m | — | $4.6m | $37.0m | |
| Amortization expense | $26.6m | $27.3m | $26.7m | $24.6m | $24.7m | $25.0m | $22.4m | $37.8m | — | $33.3m | — | |
| Deferred Income Tax Expense (Benefit) | $130.6m | $23.3m | $12.1m | $162.4m | $0 | — | — | $0 | $0 | — | — | |
| Share-based Payment Arrangement, Noncash Expense | $11.2m | $7.8m | $5.5m | $2.2m | $8.1m | $7.1m | $4.5m | $12.2m | $9.3m | — | $8.3m | |
| Payment, Tax Withholding, Share-based Payment Arrangement | $4.7m | $2.4m | $1.3m | $1.0m | $2.0m | $200k | $0 | — | — | — | — | |
| Share-based Payment Arrangement, Expense | $11.2m | $7.8m | $5.5m | $2.2m | $8.1m | $7.1m | $4.5m | $12.2m | $9.3m | — | $8.3m | |
| Non-cash share-based compensation | $11.2m | $7.8m | $5.5m | $2.2m | $8.1m | $7.1m | $4.5m | $12.2m | — | $9.3m | — | |
| Impairment of Intangible Assets (Excluding Goodwill) | — | — | $0 | $0 | $0 | $0 | — | — | — | — | — | |
| Nonoperating Income (Expense) | $33.8m | ($50.6m) | ($62.2m) | $96.9m | ($49.8m) | ($73.1m) | $724.0m | ($2.6m) | $3.3m | — | — | |
| Other Nonoperating Income (Expense) | $300k | $200k | $400k | ($200k) | $0 | $700k | $300k | $1.3m | $600k | — | — | |
| Proceeds received from equity method investment | — | — | — | — | — | — | $600k | $1.2m | — | $0 | — | |
| Changes in operating assets and liabilities: | ||||||||||||
| Increase (Decrease) in Accounts Receivable | $100k | ($10.7m) | $20.9m | ($158.0m) | $36.8m | $40.0m | ($36.3m) | ($10.6m) | $8.9m | — | ($21.0m) | |
| Receivables, net | ($100k) | $10.7m | ($20.9m) | $158.0m | ($36.8m) | ($40.0m) | $36.3m | $10.6m | — | ($8.9m) | — | |
| Cost method investment obtained in exchange for advertising inventory | $84.9m | $0 | $1.7m | $0 | $0 | $12.4m | $0 | $2.0m | — | $2.3m | — | |
| Accounts payable and accrued expenses | $1.7m | $4.8m | $3.6m | ($18.5m) | $2.3m | $14.2m | ($2.7m) | ($100k) | — | ($3.3m) | $7.7m | |
| Deferred revenue | ($3.1m) | $200k | $300k | ($2.5m) | $7.5m | ($4.8m) | ($5.4m) | $13.2m | — | ($14.6m) | — | |
| Accrued purchases of property and equipment | $400k | $1.1m | $400k | $1.2m | $0 | $800k | $800k | $100k | — | $0 | — | |
| Other | ($300k) | ($500k) | ($1.0m) | $100k | $200k | ($400k) | ($400k) | ($500k) | — | $1.8m | — | |
| Net Cash Provided by (Used in) Operating Activities | $138.9m |
$150.3m
+8.21%
|
$143.6m
-4.46%
|
$55.3m
-61.49%
|
($95.2m)
-272.15%
|
($47.3m)
+50.32%
|
$800k
+101.69%
|
$60.3m
+7437.50%
|
$8.4m
-86.07%
|
$8.4m
0.00%
|
$20.5m
+144.05%
|
|
| Cash flows from investing activities: | ||||||||||||
| Payments to Acquire Property, Plant, and Equipment | $11.6m | $14.2m | $14.0m | $8.0m | $5.7m | $2.9m | $3.3m | $5.8m | $5.6m | ($5.6m) | ($5.2m) | |
| Gain (Loss) on Disposition of Property Plant Equipment | — | — | — | — | — | — | ($300k) | — | — | — | — | |
| Purchase of strategic investments | — | — | — | — | — | — | $0 | ($1.0m) | — | ($2.0m) | — | |
| Payments for (Proceeds from) Other Investing Activities | — | — | — | — | — | — | — | — | $300k | — | — | |
| Other cash flows from investing activities, net | — | — | — | — | — | — | $1.3m | ($100k) | — | ($300k) | — | |
| Net cash (used in) provided by investing activities | $8.5m | ($16.1m) | $1.6m | $15.6m | ($5.4m) | ($400k) | $32.6m | ($5.7m) | — | ($15.4m) | — | |
| Net Cash Provided by (Used in) Investing Activities | — | — | — | — | ($5.4m) | ($400k) | — | ($5.7m) | ($15.4m) | — | ($14.8m) | |
| Cash flows from financing activities: | ||||||||||||
| Repayments of Long-term Debt | — | $14.2m | — | — | — | — | $0 | — | — | — | ($10.0m) | |
| Gain (Loss) on Extinguishment of Debt | — | ($700k) | ($5.6m) | ($400k) | ($1.2m) | $6 | — | — | ($1.8m) | — | — | |
| Payment of debt issuance costs | $0 | ($6.9m) | ($4.6m) | ($1.3m) | ($7.3m) | ($7.0m) | ($1.2m) | $0 | — | ($1.5m) | — | |
| Payments for Repurchase of Common Stock | — | — | — | — | — | — | — | $13.1m | $22.0m | — | — | |
| Payments of Ordinary Dividends, Common Stock | $59 | $54 | $54 | $32 | $17 | $10 | $0 | $0 | $11 | — | ($14.2m) | |
| Purchases of NCM, Inc.'s common stock | — | — | — | — | — | — | $0 | ($13.1m) | — | ($22.0m) | — | |
| Payment of dividends | ($59) | ($54) | ($54) | ($32) | ($17) | ($10) | ($0) | ($0) | — | ($11) | — | |
| Increase in dividend equivalent accrual not requiring cash in the period | ($1.0m) | ($1.4m) | $100k | ($100k) | $900k | — | $0 | $0 | — | $200k | — | |
| Proceeds from (Payments for) Other Financing Activities | — | — | — | — | — | — | — | — | ($600k) | — | — | |
| Other cash flows from financing activities | — | — | — | — | — | — | — | ($700k) | — | ($600k) | — | |
| Net Cash Provided by (Used in) Financing Activities | ($140.2m) |
($123.0m)
+12.27%
|
($130.7m)
-6.26%
|
$53.5m
+140.93%
|
$21.5m
-59.81%
|
$10.3m
-52.09%
|
($52.1m)
-605.83%
|
($14.1m)
+72.94%
|
($33.5m)
-137.59%
|
($33.5m)
0.00%
|
($17.1m)
+48.96%
|
|
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | — | $11.2m | $14.5m | $124.4m | ($79.1m) | ($37.4m) | ($26.2m) | $40.5m | ($40.5m) | — | $51.6m | |
| Cash, cash equivalents and restricted cash at beginning of period | $30.2m | $41.4m | $55.9m | $180.3m | $101.2m | $63.8m | $37.6m | $78.1m | — | $37.6m | — | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | — | $41.4m | $55.9m | $180.3m | $101.2m | $63.8m | $37.6m | $78.1m | $37.6m | — | $51.6m | |
| Cash, cash equivalents and restricted cash reconsolidated | — | — | — | — | — | $0 | $49.5m | $0 | — | $0 | — | |
| Removal of cash, cash equivalents and restricted cash of unconsolidated affiliate | — | — | — | — | — | $0 | ($49.6m) | $0 | — | $0 | — | |
| CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH | $7.2m | $11.2m | $14.5m | $124.4m | ($79.1m) | ($37.4m) | ($26.2m) | $40.5m | ($40.5m) | |||
| Additional Supplementary Disclosures | ||||||||||||
| Additional Supplementary Disclosures | ||||||||||||
| Supplemental disclosure of cash flow information: | ||||||||||||
| Interest Paid, Excluding Capitalized Interest, Operating Activities | $49.9m | $54.1m | $54.3m | $54.6m | $58.6m | $66.5m | $12.5m | $900k | $200k | $200k | — | |
| Income Taxes Paid, Net | ($1.7m) | $300k | $100k | $500k | ($100k) | $100k | $0 | $78k | $13k | $13k | — | |
| Additional Financial Items | ||||||||||||
| Accretion Expense | $18.5m | — | — | — | — | — | — | — | — | — | — | |
| Deconsolidation, Gain (Loss), Amount | — | — | — | — | — | — | $557.7m | $0 | $0 | — | — | |
| Gain (Loss) on Disposition of Assets | — | — | — | — | — | — | ($300k) | — | — | — | — | |
| Gain (Loss) on Termination of Lease | ($1.8m) | ($1.8m) | ($1.8m) | — | — | — | — | — | — | — | — | |
| General and Administrative Expense | $37.9m | $48.3m | $43.8m | $30.9m | $36.0m | $44.3m | $57.3m | $50.7m | $46.1m | — | — | |
| Goodwill | — | — | — | — | — | — | — | — | $500k | — | — | |
| Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | $58.7m | $80.2m | $86.7m | ($126.3m) | ($118.4m) | ($66.2m) | $696.7m | ($22.3m) | — | — | — | |
| Income Tax Expense (Benefit) | $129.0m | $23.5m | $12.4m | $162.2m | $0 | $0 | $0 | $200k | $0 | — | — | |
| Proceeds from Stock Options Exercised | $600k | $0 | $0 | — | — | — | — | — | — | — | — | |
| Consolidated net (loss) income | $58.7m | $80.2m | $86.7m | ($126.3m) | — | ($66.2m) | $696.7m | ($22.3m) | — | ($10.6m) | — | |
| Non-cash (gain) loss on re-measurement of the TRA payable | ($103.6m) | ($3.8m) | $1.1m | ($152.7m) | ($16.1m) | $2.2m | $9.3m | $4.6m | — | ($3.7m) | — | |
| Non-cash consideration received for advertising services | — | — | — | — | — | — | $0 | $0 | — | ($2.3m) | — | |
| Gain on deconsolidation of affiliate | — | — | — | — | — | $0 | ($557.7m) | $0 | — | $0 | — | |
| Gain on re-measurement of NCM LLC | — | — | — | — | — | $0 | ($35.5m) | $0 | — | $0 | — | |
| Gain on reconsolidation of NCM LLC | — | — | — | — | — | — | ($167.8m) | $0 | — | $0 | — | |
| ESA Party integration and encumbered theater payments | — | — | — | — | — | — | $5.0m | $1.2m | — | $700k | — | |
| Payments to the ESA Parties under the tax receivable agreement | — | — | — | — | — | — | $0 | $0 | — | ($1.3m) | — | |
| Amounts due to ESA Parties, net | — | — | — | — | — | $1.0m | ($4.2m) | $2.5m | — | $2.8m | — | |
| Prepaid expenses | — | — | — | — | — | $0 | ($11.0m) | ($4.9m) | — | $500k | — | |
| Other, net | $1.9m | $1.7m | ($2.6m) | $2.5m | $2.7m | $2.4m | ($2.0m) | $600k | — | ($600k) | — | |
| Purchase of a business | — | — | — | — | — | — | $0 | $0 | — | ($7.5m) | — | |
| Cash contributed upon reconsolidation | — | — | — | — | — | $0 | $15.5m | $0 | — | $0 | — | |
| Repayments of term loan facilities | — | — | — | — | $0 | ($19.8m) | $800k | $0 | — | ($20.0m) | — | |
| Proceeds from term loan facilities | — | — | — | — | — | — | $0 | $0 | — | $22.0m | — | |
| Purchase of an intangible asset with NCM LLC equity | $201.8m | $15.9m | $7.6m | $10.5m | $14.1m | $10.4m | $0 | $700k | — | $0 | — | |
| Issuance of shares upon the reconsolidation of NCM LLC | — | — | — | — | — | — | $245.3m | $0 | — | $0 | — | |
| Fair value of NCM LLC net assets reconsolidated, net of cash | ($200k) | $0 | — | — | — | — | $433.8m | $0 | — | $0 | — | |
| Purchase of subsidiary equity with NCM, Inc. equity | $84.9m | — | — | — | — | — | $2.6m | $0 | — | $0 | — | |
| Right of use assets obtained in exchange for lease liabilities | — | — | — | — | — | — | $0 | $9.1m | — | $0 | — |