Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

v3.4.0.3
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Cash flows from operating activities    
Net income (loss) $ 73,229 $ (21,456)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization expense 104,686 104,533
(Gain) loss on derivatives (11,948) 29,027
Deferred income taxes, net 158 60
Gain on contingent consideration   (9,100)
Write-off of deferred financing fees   195
Provision for bad debts and inventory 575  
Share-based compensation expense 15,245 12,005
Changes in operating assets and liabilities:    
Accounts receivable, net (1,042) 1,474
Inventories (4,360) (80)
Prepaid expenses and other assets (5,390) (4,488)
Accounts payable 2,750 (17,455)
Accrued expenses and other liabilities 7,572 (35,481)
Advance ticket sales 148,621 255,556
Net cash provided by operating activities 330,096 314,790
Cash flows from investing activities    
Additions to property and equipment, net (132,027) (73,131)
Settlement of derivatives (1,167)  
Net cash used in investing activities (133,194) (73,131)
Cash flows from financing activities    
Repayments of long-term debt (308,248) (477,224)
Proceeds from long-term debt 204,000 224,033
Proceeds from the exercise of share options 2,044 51,790
Proceeds from employee share purchase plan 1,104  
Purchases of treasury shares (49,999)  
Deferred financing fees and other (6,873) (3,660)
Net cash used in financing activities (157,972) (205,061)
Net increase in cash and cash equivalents 38,930 36,598
Cash and cash equivalents at beginning of period 115,937 84,824
Cash and cash equivalents at end of period $ 154,867 $ 121,422