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  "authorName": "AMC",
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  "presentationDate": "2019-04-01 00:00:00",
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  "notes": "The slide explains the accounting mechanics behind the shift from financing leases to operating leases under ASC 842.",
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      "text": "No revenue impact; Reclassification of legacy financing leases (FLOs) to operating leases shifts interest expense and principal payments to rent expense, thereby reducing Adjusted EBITDA; FLO building assets are written off to retained earnings and replaced with an operating right-of-use asset, eliminating previous depreciation expense -> this drives the preponderance of the D&A impact; Non-cash rent expense is the amortization of purchase accounting rent adjustments that have no effect on Adjusted EBITDA",
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      "text": "Note: Positive value reflects increase in line item and vice versa. See the appendix, website, and Form 8-K for definitions and reconciliations of non-GAAP financial measures. (1) FLOs were largely assumed as part of AMC's acquisition of Odeon and Carmike whose build-to-suit lease arrangements requiring deemed accounting ownership resulted in failed sale leaseback transactions",
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      "text": "Line Item, 2018A PF Impact ($M), Revenue, -, Rent Expense, $93.3, Adjusted EBITDA, ($93.3), D&A, ($105.7), Interest Expense, ($29.5), Non-Cash Rent Expense – Purchase Accounting, $38.5, Net Income, $3.4",
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      "text": "Reclassification of legacy financing lease obligations to operating leases shifts interest expense and principal payments to rent expense, thereby reducing Adjusted EBITDA",
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      "text": "ASC 842 Adjustments: Income Statement",
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