Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

v3.23.3
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities    
Net Income (Loss) $ 272,663 $ (1,787,429)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation and amortization expense 649,958 593,423
(Gain) loss on derivatives 9,338 (151)
Loss on extinguishment of debt 2,801 188,433
Provision for bad debts and inventory obsolescence 3,640 5,438
Gain on involuntary conversion of assets (4,583) (1,880)
Share-based compensation expense 96,254 88,923
Net foreign currency adjustments (2,027) (17,672)
Changes in operating assets and liabilities:    
Accounts receivable, net 80,064 765,692
Inventories (18,120) (38,388)
Prepaid expenses and other assets 437,465 (555,561)
Accounts payable (60,971) (97,802)
Accrued expenses and other liabilities (139,188) 116,947
Advance ticket sales 419,420 713,447
Net cash provided by (used in) operating activities 1,746,714 (26,580)
Cash flows from investing activities    
Additions to property and equipment, net (2,102,698) (1,628,442)
Proceeds from maturities of short-term investments   240,000
Cash paid on settlement of derivatives (118,610) (214,035)
Other, net 14,678 10,991
Net cash used in investing activities (2,206,630) (1,591,486)
Cash flows from financing activities    
Repayments of long-term debt (2,629,681) (1,465,439)
Proceeds from long-term debt 2,989,183 3,003,003
Proceeds from employee related plans 5,307 5,267
Net share settlement of restricted share units (25,271) (20,212)
Early redemption premium   (172,012)
Deferred financing fees (145,051) (52,474)
Net cash provided by financing activities 194,487 1,298,133
Net (decrease) in cash and cash equivalents (265,429) (319,933)
Cash and cash equivalents at beginning of period 946,987 1,506,647
Cash and cash equivalents at end of period $ 681,558 $ 1,186,714