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
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities    
Net Income (Loss) $ 180,789 $ (73,205)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization expense 488,027 425,288
(Gain) loss on derivatives (1,129) 9,423
Loss on extinguishment of debt 29,000 2,801
Provision for bad debts and inventory obsolescence 3,198 1,497
Gain on involuntary conversion of assets (4,462) (4,583)
Share-based compensation expense 44,932 72,691
Net foreign currency adjustments (8,587) 1,822
Changes in operating assets and liabilities:    
Accounts receivable, net 66,671 106,709
Inventories 7,329 (5,815)
Prepaid expenses and other assets (124,287) 321,120
Accounts payable (2,216) (72,345)
Accrued expenses and other liabilities 56,439 (75,009)
Advance ticket sales 742,360 826,221
Net cash provided by operating activities 1,478,064 1,536,615
Cash flows from investing activities    
Additions to property and equipment, net (599,505) (974,190)
Cash paid on settlement of derivatives   (23,379)
Acquisition, net of cash acquired (27,322)  
Other 5,955 5,367
Net cash used in investing activities (620,872) (992,202)
Cash flows from financing activities    
Repayments of long-term debt (778,109) (2,500,777)
Proceeds from long-term debt 261,734 2,038,187
Proceeds from employee related plans   2,618
Net share settlement of restricted share units (22,039) (25,223)
Early redemption premium (19,163)  
Deferred financing fees (107,932) (107,070)
Net cash used in financing activities (665,509) (592,265)
Net increase (decrease) in cash and cash equivalents 191,683 (47,852)
Cash and cash equivalents at beginning of period 402,415 946,987
Cash and cash equivalents at end of period $ 594,098 $ 899,135