Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

v3.22.2.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities    
Net loss $ (1,787,429) $ (2,933,866)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization expense 593,423 560,972
Gain on derivatives (151) (23,560)
Loss on extinguishment of debt 188,433 601,539
Provision for bad debts and inventory obsolescence 5,438 14,118
Gain on involuntary conversion of assets (1,880) (7,706)
Share-based compensation expense 88,923 88,974
Net foreign currency adjustments on euro-denominated debt (17,672) (7,238)
Changes in operating assets and liabilities:    
Accounts receivable, net 765,692 (979,890)
Inventories (38,388) (26,676)
Prepaid expenses and other assets (555,561) (65,771)
Accounts payable (97,802) 15,014
Accrued expenses and other liabilities 116,947 142,144
Advance ticket sales 713,447 469,595
Net cash used in operating activities (26,580) (2,152,351)
Cash flows from investing activities    
Additions to property and equipment, net (1,628,442) (539,530)
Purchases of short-term investments   (770,000)
Proceeds from maturities of short-term investments 240,000 205,000
Cash paid on settlement of derivatives (214,035) (14,465)
Other 10,991 11,024
Net cash used in investing activities (1,591,486) (1,107,971)
Cash flows from financing activities    
Repayments of long-term debt (1,465,439) (889,206)
Proceeds from long-term debt 3,003,003 1,345,041
Common share issuance proceeds, net   1,558,396
Proceeds from employee related plans 5,267 3,141
Net share settlement of restricted share units (20,212) (16,672)
Early redemption premium (172,012) (611,164)
Deferred financing fees (52,474) (59,880)
Net cash provided by financing activities 1,298,133 1,329,656
Net decrease in cash and cash equivalents (319,933) (1,930,666)
Cash and cash equivalents at beginning of period 1,506,647 3,300,482
Cash and cash equivalents at end of period $ 1,186,714 $ 1,369,816