Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

v3.23.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities    
Net Income (Loss) $ (73,205) $ (1,492,035)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation and amortization expense 425,288 391,320
Loss on derivatives 9,423 47
Loss on extinguishment of debt 2,801 188,433
Provision for bad debts and inventory obsolescence 1,497 2,500
Gain on involuntary conversion of assets (4,583) (1,880)
Share-based compensation expense 72,691 62,840
Net foreign currency adjustments 1,822 (12,063)
Changes in operating assets and liabilities:    
Accounts receivable, net 106,709 566,265
Inventories (5,815) (36,748)
Prepaid expenses and other assets 321,120 (542,730)
Accounts payable (72,345) (127,188)
Accrued expenses and other liabilities (75,009) 137,225
Advance ticket sales 826,221 755,189
Net cash provided by (used in) operating activities 1,536,615 (108,825)
Cash flows from investing activities    
Additions to property and equipment, net (974,190) (326,303)
Proceeds from maturities of short-term investments   240,000
Cash paid on settlement of derivatives (23,379)  
Other, net 5,367 5,237
Net cash used in investing activities (992,202) (81,066)
Cash flows from financing activities    
Repayments of long-term debt (2,500,777) (1,268,888)
Proceeds from long-term debt 2,038,187 2,073,175
Proceeds from employee related plans 2,618 2,557
Net share settlement of restricted share units (25,223) (11,991)
Early redemption premium   (172,012)
Deferred financing fees (107,070) (36,359)
Net cash provided by (used in) financing activities (592,265) 586,482
Net increase (decrease) in cash and cash equivalents (47,852) 396,591
Cash and cash equivalents at beginning of period 946,987 1,506,647
Cash and cash equivalents at end of period $ 899,135 $ 1,903,238