Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

v3.3.0.814
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Cash flows from operating activities    
Net income $ 388,825 $ 368,249
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense 327,861 213,306
Loss on derivatives 21,893 129
Deferred income taxes, net 858 (3,238)
Contingent consideration (43,400)  
Write-off of deferred financing fees 195  
Share-based compensation expense 27,857 9,551
Changes in operating assets and liabilities:    
Accounts receivable, net (9,563) (7,676)
Inventories 1,609 (7,548)
Prepaid expenses and other assets 491 (4,276)
Accounts payable (57,837) 13,096
Accrued expenses and other liabilities 5,996 33,529
Advance ticket sales 308,691 85,602
Net cash provided by operating activities 973,476 700,724
Cash flows from investing activities    
Additions to property and equipment (330,808) (864,837)
Investment in intangible asset (750)  
Net cash used in investing activities (331,558) (864,837)
Cash flows from financing activities    
Repayments of long-term debt (908,677) (765,948)
Repayments to Affiliate (18,521) (18,521)
Proceeds from long-term debt 375,751 1,101,287
Proceeds from the exercise of share options 66,527 3,081
Proceeds from employee share purchase plan 858  
Purchases of treasury shares (7,425) (82,000)
NCLC partnership tax distributions   (3,853)
Deferred financing fees and other (5,075) (70,531)
Net cash provided by (used in) financing activities (496,562) 163,515
Net increase (decrease) in cash and cash equivalents 145,356 (598)
Cash and cash equivalents at beginning of period 84,824 56,467
Cash and cash equivalents at end of period $ 230,180 $ 55,869