Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Cash flows from operating activities    
Net income $ 137,038 $ 164,971
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense 214,717 141,228
Loss (gain) on derivatives 27,475 (62)
Deferred income taxes, net 424 2,786
Contingent consideration (43,400)  
Write-off of deferred financing fees 195  
Share-based compensation expense 14,166 5,079
Changes in operating assets and liabilities:    
Accounts receivable, net (4,369) (8,885)
Inventories (3,246) (8,851)
Prepaid expenses and other assets (15,472) (8,943)
Accounts payable (47,038) 15,967
Accrued expenses and other liabilities (949) 20,905
Advance ticket sales 412,602 194,913
Net cash provided by operating activities 692,143 519,108
Cash flows from investing activities    
Additions to property and equipment (186,504) (787,566)
Net cash used in investing activities (186,504) (787,566)
Cash flows from financing activities    
Repayments of long-term debt (791,403) (540,237)
Repayments to Affiliate (18,522) (18,521)
Proceeds from long-term debt 340,060 914,545
Proceeds from the exercise of share options 55,023 2,158
Purchases of treasury shares   (79,155)
NCLC partnership tax distributions   (3,115)
Deferred financing fees and other (2,663) (201)
Net cash provided by (used in) financing activities (417,505) 275,474
Net increase in cash and cash equivalents 88,134 7,016
Cash and cash equivalents at beginning of period 84,824 56,467
Cash and cash equivalents at end of period $ 172,958 $ 63,483