Norwegian Cruise Line Holdings Ltd. Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements and Derivatives (Tables)

3 Months Ended

Mar. 31, 2016

		Asset				Liability
	Balance Sheet location	March 31, 2016		December 31, 2015		March 31, 2016		December 31, 2015
Fuel swaps designated as hedging instruments
	Prepaid expenses and other assets	$	6,283	$	—	$	256	$	—
	Other long-term assets		3,534		—		43		—
	Accrued expenses and other liabilities		—		—		117,016		128,740
	Other long-term liabilities		1,241		—		132,656		132,494
Fuel swaps not designated as hedging instruments
	Prepaid expenses and other assets		16		—		—		—
	Accrued expenses and other liabilities		—		—		1,545		—
Foreign currency forward contracts designated as hedging instruments
	Prepaid expenses and other assets		671		—		—		—
	Other long-term assets		59,812		3,446		2,953		1,370
	Accrued expenses and other liabilities		—		—		138		8,737
	Other long-term liabilities		1,397		551		5,390		24,181
Foreign currency collar not designated as a hedging instrument
	Accrued expenses and other liabilities		—		—		29,368		42,993
Interest rate swaps designated as hedging instruments
	Accrued expenses and other liabilities		—		—		3,882		4,079
	Other long-term liabilities		—		—		4,490		3,395

	Three Months Ended March 31,
	2016			2015
Loss recognized in other comprehensive income (loss) – effective portion	$	(9,506	)	$	(2,801	)
Loss recognized in other income (expense) – ineffective portion		(5,227	)		(6,051	)
Amount reclassified from accumulated other comprehensive income (loss) into fuel expense		31,137			20,536

	Three Months Ended March 31,
	2016		2015
Amount reclassified from accumulated other comprehensive income (loss) into other income (expense)	$	1,529	$	—

	Three Months Ended March 31,
	2016		2015
Amount reclassified from accumulated other comprehensive income (loss) into fuel expense	$	—	$	238

	Three Months Ended March 31,
	2016		2015
Amount reclassified from accumulated other comprehensive income (loss) into depreciation and amortization expense	$	330	$	330

	Three Months Ended March 31,
	2016		2015
Gain (loss) recognized in other comprehensive income (loss) – effective portion	$	82,511	$	(97,375	)
Gain (loss) recognized in other income (expense) – ineffective portion		11		(15	)
Amount reclassified from accumulated other comprehensive income (loss) into depreciation and amortization expense		645		(64	)

	Three Months Ended March 31,
	2016			2015
Amount reclassified from accumulated other comprehensive income (loss) into depreciation and amortization expense	$	(91	)	$	(91	)

	Three Months Ended March 31,
	2016		2015
Gain (loss) recognized in other income (expense)	$	13,625	$	(28,953	)

	Three Months Ended March 31,
	2016			2015
Loss recognized in other comprehensive income (loss) – effective portion	$	(2,555	)	$	(3,589	)
Gain (loss) recognized in other income (expense) – ineffective portion		3			(7	)
Amount reclassified from accumulated other comprehensive income (loss) into interest expense, net		1,000			937

	Three Months Ended March 31,
	2016		2015
Loss recognized in other income (expense)	$	—	$	(2	)