Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

v3.20.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash flows from operating activities    
Net income (loss) $ (1,880,972) $ 118,157
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation and amortization expense 195,195 169,714
Impairment loss 1,607,797  
Deferred income taxes, net (6,120) (32,094)
Loss on derivatives 13,619 4
Loss on extinguishment of debt   2,903
Provision for bad debts and inventory obsolescence 8,372 1,022
Share-based compensation expense 32,758 26,999
Net foreign currency adjustments (1,386) (1,896)
Changes in operating assets and liabilities:    
Accounts receivable, net (23,109) (2,179)
Inventories 9,258 (496)
Prepaid expenses and other assets 145,768 (59,821)
Accounts payable 258,215 (89,914)
Accrued expenses and other liabilities (123,552) (44,281)
Advance ticket sales (288,544) 439,352
Net cash provided by (used in) operating activities (52,701) 527,470
Cash flows from investing activities    
Additions to property and equipment, net (610,155) (214,559)
Cash received on settlement of derivatives   289
Cash paid on settlement of derivatives (28,606)  
Other 868 259
Net cash used in investing activities (637,893) (214,011)
Cash flows from financing activities    
Repayments of long-term debt (181,530) (2,345,589)
Proceeds from long-term debt 2,007,870 2,392,000
Proceeds from employee related plans 4,100 7,744
Net share settlement of restricted share units (14,975) (18,850)
Purchases of treasury shares   (199,996)
Deferred financing fees (12,993) (7,911)
Net cash provided by (used in) financing activities 1,802,472 (172,602)
Effect of exchange rates on cash and cash equivalents (4,493)  
Net increase in cash and cash equivalents 1,107,385 140,857
Cash and cash equivalents at beginning of period 252,876 163,851
Cash and cash equivalents at end of period $ 1,360,261 $ 304,708