Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

v3.24.3
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities    
Net Income (Loss) $ 655,721 $ 272,663
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense 726,877 649,958
(Gain) loss on derivatives (712) 9,338
Loss on extinguishment of debt 29,175 2,801
Provision for bad debts and inventory obsolescence 3,668 3,640
Gain on involuntary conversion of assets (4,605) (4,583)
Share-based compensation expense 65,570 96,254
Net foreign currency adjustments 6,811 (2,027)
Changes in operating assets and liabilities:    
Accounts receivable, net 72,341 80,064
Inventories 12,160 (18,120)
Prepaid expenses and other assets 26,244 437,465
Accounts payable (8,388) (60,971)
Accrued expenses and other liabilities (25,154) (139,188)
Advance ticket sales 90,859 419,420
Net cash provided by operating activities 1,650,567 1,746,714
Cash flows from investing activities    
Additions to property and equipment, net (967,516) (2,102,698)
Cash paid on settlement of derivatives   (118,610)
Acquisition, net of cash acquired (27,322)  
Other 9,164 14,678
Net cash used in investing activities (985,674) (2,206,630)
Cash flows from financing activities    
Repayments of long-term debt (1,268,605) (2,629,681)
Proceeds from long-term debt 688,901 2,989,183
Proceeds from employee related plans   5,307
Net share settlement of restricted share units (22,058) (25,271)
Early redemption premium (19,166)  
Deferred financing fees (113,859) (145,051)
Net cash provided by (used in) financing activities (734,787) 194,487
Net decrease in cash and cash equivalents (69,894) (265,429)
Cash and cash equivalents at beginning of period 402,415 946,987
Cash and cash equivalents at end of period $ 332,521 $ 681,558