Annual report pursuant to Section 13 and 15(d)

Summary of Significant Accounting Policies (Tables)

v3.19.3.a.u2
Summary of Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2019
Accounting Policies [Abstract]  
Schedule of reconciliation between basic and diluted EPS

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

Year Ended December 31, 

    

2019

    

2018

 

2017

Net income

$

930,228

$

954,843

$

759,872

Basic weighted-average shares outstanding

 

214,929,977

 

223,001,739

 

228,040,825

Dilutive effect of share awards

 

1,545,099

 

1,417,466

 

1,377,501

Diluted weighted-average shares outstanding

 

216,475,076

 

224,419,205

 

229,418,326

Basic earnings per share

$

4.33

$

4.28

$

3.33

Diluted earnings per share

$

4.30

$

4.25

$

3.31

Schedule of estimated residual values of ships

Depreciation is computed on a straight-line basis over the estimated useful lives of the assets, after a 15% reduction for the estimated residual values of ships as follows:

    

Useful Life

Ships

 

30 years

Computer hardware and software

 

3‑10 years

Other property and equipment

 

3‑40 years

Leasehold improvements

 

Shorter of lease term or asset life

Ship improvements

 

Shorter of asset life or life of the ship

Schedule of revenues by destination

Revenues by destination consisted of the following (in thousands):

Year Ended December 31, 

    

2019

    

2018

 

2017

North America

$

3,807,576

$

3,543,282

$

3,285,903

Europe

 

1,666,751

 

1,462,698

 

1,347,381

Asia-Pacific

 

500,842

 

721,404

 

394,631

Other

 

487,207

 

327,742

 

368,260

Total revenue

$

6,462,376

$

6,055,126

$

5,396,175