Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

v3.5.0.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Cash flows from operating activities    
Net income $ 218,475 $ 137,038
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense 212,268 214,717
Loss on derivatives 2,866 27,475
Deferred income taxes, net 388 424
Gain on contingent consideration   (43,400)
Write-off of deferred financing fees 11,427 195
Provision for bad debts and inventory 1,115  
Share-based compensation expense 31,449 14,166
Changes in operating assets and liabilities:    
Accounts receivable, net (16,335) (4,369)
Inventories (9,674) (3,246)
Prepaid expenses and other assets (25,903) (9,932)
Accounts payable (10,865) (47,038)
Accrued expenses and other liabilities (25,798) 13,063
Advance ticket sales 358,625 412,602
Net cash provided by operating activities 748,038 711,695
Cash flows from investing activities    
Additions to property and equipment, net (764,899) (205,056)
Settlement of derivatives (34,129)  
Net cash used in investing activities (799,028) (205,056)
Cash flows from financing activities    
Repayments of long-term debt (2,386,427) (791,403)
Repayments to Affiliate (18,522) (18,522)
Proceeds from long-term debt 2,564,116 340,060
Proceeds from the exercise of share options 3,007 55,023
Proceeds from employee share purchase plan 1,172  
Purchases of treasury shares (49,999)  
Deferred financing fees and other (32,330) (3,663)
Net cash provided by (used in) financing activities 81,017 (418,505)
Net increase in cash and cash equivalents 30,027 88,134
Cash and cash equivalents at beginning of period 115,937 84,824
Cash and cash equivalents at end of period $ 145,964 $ 172,958