Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities    
Net Income (Loss) $ 17,353 $ (159,321)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization expense 245,092 210,676
(Gain) loss on derivatives (1,125) 4,404
Loss on extinguishment of debt 29,000 2,434
Provision for bad debts and inventory obsolescence 1,532 1,199
Gain on involuntary conversion of assets (2,846)  
Share-based compensation expense 21,948 28,155
Net foreign currency adjustments (6,603) 1,021
Changes in operating assets and liabilities:    
Accounts receivable, net (4,052) 65,391
Inventories (517) 2,812
Prepaid expenses and other assets (83,414) (127,192)
Accounts payable 29,987 (25,926)
Accrued expenses and other liabilities (31,422) (168,581)
Advance ticket sales 592,238 668,261
Net cash provided by operating activities 807,171 503,333
Cash flows from investing activities    
Additions to property and equipment, net (258,851) (237,676)
Other, net 3,608 1,320
Net cash used in investing activities (255,243) (236,356)
Cash flows from financing activities    
Repayments of long-term debt (425,339) (1,821,412)
Proceeds from long-term debt 92,406 1,330,622
Proceeds from employee related plans   2,618
Net share settlement of restricted share units (22,032) (11,306)
Early redemption premium (19,163)  
Deferred financing fees (20,401) (13,886)
Net cash used in financing activities (394,529) (513,364)
Net increase (decrease) in cash and cash equivalents 157,399 (246,387)
Cash and cash equivalents at beginning of period 402,415 946,987
Cash and cash equivalents at end of period $ 559,814 $ 700,600