Quarterly report pursuant to Section 13 or 15(d)

Summary of Significant Accounting Policies (Policies)

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Summary of Significant Accounting Policies (Policies)
 3 Months Ended
Mar. 31, 2014
Basis of Presentation

Basis of Presentation

The accompanying consolidated financial statements are unaudited and, in our opinion, contain all normal recurring adjustments necessary for a fair statement of the results for the periods presented.

Our operations are seasonal and results for interim periods are not necessarily indicative of the results for the entire fiscal year. Historically, demand for cruises has been strongest during the summer months. The interim consolidated financial statements should be read in conjunction with the audited consolidated financial statements for the year ended December 31, 2013, which are included in our most recently filed Annual Report on Form 10-K.
Earnings (Loss) Per Share

Earnings (Loss) Per Share

A reconciliation between basic and diluted earnings (loss) per share was as follows (in thousands, except share and per share data):

 

     Three Months Ended March 31,  
     2014      2013  

Net income (loss) attributable to Norwegian Cruise Line Holdings Ltd.

    $ 51,267       $ (96,395 ) 
  

 

 

     

 

 

  

Net income (loss)

    $ 51,692       $ (97,500 ) 
  

 

 

     

 

 

  

Basic weighted-average shares outstanding

      205,163,256         198,350,433   

Dilutive effect of awards

      5,850,558         —     
  

 

 

     

 

 

  

Diluted weighted-average shares outstanding

      211,013,814         198,350,433   
  

 

 

     

 

 

  

Basic earnings (loss) per share

    $ 0.25       $ (0.49 ) 
  

 

 

     

 

 

  

Diluted earnings (loss) per share

    $ 0.24       $ (0.49 ) 
  

 

 

     

 

 

  

Diluted loss per share for the three months ended March 31, 2013 did not include 6,174,132 shares because the effect of including them would have been antidilutive.
Revenue and Expense Recognition

Revenue and Expense Recognition

Revenue and expense includes taxes assessed by governmental authorities that are directly imposed on a revenue-producing transaction between a seller and a customer. The amounts included in revenue and expense on a gross basis were $37.9 million and $31.4 million for the three months ended March 31, 2014 and 2013, respectively.