| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 |
|---|---|---|---|---|---|---|---|---|
Cash flows from operating activities | ||||||||
Net income (loss) | ||||||||
930 | 954 | 759 | 633 | 427 | 342 | 102 | 168 | 126 |
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ||||||||
Depreciation and amortization expense | ||||||||
647 | 566 | 521 | 445 | 450 | 304 | 245 | 216 | 211 |
Deferred income taxes, net | ||||||||
-26 | 1 | 9 | -2 | 1 | 6 | 2 | - | - |
Loss on derivatives | ||||||||
- | - | - | -0 | -26 | -7 | 0 | -1 | 2 |
Loss on extinguishment of debt | ||||||||
-13 | -6 | -22 | -38 | - | - | - | - | - |
Gain on contingent consideration | ||||||||
- | - | - | - | 43 | - | - | - | - |
Write-off of financing fees | ||||||||
- | - | - | - | 4 | 15 | 36 | 2 | - |
Provision for bad debts and inventory obsolescence | ||||||||
3 | 5 | 2 | 3 | 5 | - | - | - | - |
Gain on involuntary conversion of assets | ||||||||
4 | - | - | - | - | - | - | - | - |
Share-based compensation expense | ||||||||
95 | 115 | 87 | 66 | 42 | 14 | 23 | 5 | 1 |
Net foreign currency adjustments | ||||||||
1 | 5 | - | - | - | - | - | - | - |
Premium on debt issuance | ||||||||
- | - | - | - | - | - | - | 6 | - |
Changes in operating assets and liabilities: | ||||||||
Accounts receivable, net | ||||||||
14 | 15 | -15 | 20 | 14 | 7 | 3 | 4 | 0 |
Inventories | ||||||||
6 | 9 | 17 | 9 | 4 | 0 | 4 | 3 | 3 |
Prepaid expenses and other assets | ||||||||
74 | 29 | 22 | 13 | 10 | 6 | 15 | 3 | 4 |
Accounts payable | ||||||||
-58 | 106 | 14 | -5 | -52 | 0 | 7 | -1 | 15 |
Accrued expenses and other liabilities | ||||||||
-29 | 114 | 55 | -6 | -5 | -18 | 25 | -3 | -15 |
Advance ticket sales | ||||||||
347 | 262 | 154 | 134 | 218 | -23 | 55 | 14 | 28 |
Payment of original issue discount | ||||||||
- | - | - | - | 1 | - | - | - | - |
Net cash provided by (used in) operating activities | ||||||||
1,822 | 2,075 | 1,601 | 1,264 | 1,042 | 635 | 475 | 398 | 356 |
Cash flows from investing activities | ||||||||
Acquisition of Prestige, net of cash received | ||||||||
- | - | - | - | - | 826 | - | - | - |
Additions to property and equipment, net | ||||||||
1,637 | 1,566 | 1,372 | 1,092 | 1,121 | 964 | 877 | 303 | 184 |
Cash paid on settlement of derivatives | ||||||||
47 | 1 | 35 | 36 | 86 | 5 | 17 | - | - |
Cash received on settlement of derivatives | ||||||||
0 | 64 | 2 | -0 | 2 | - | - | - | - |
Other | ||||||||
-3 | -1 | -0 | - | - | - | - | - | - |
Investment in trademark | ||||||||
- | - | - | - | 0 | - | - | - | - |
Net cash used in investing activities | ||||||||
-1,680 | -1,502 | -1,404 | -1,128 | -1,206 | -1,796 | -894 | -303 | -184 |
Cash flows from financing activities | ||||||||
Repayments of long-term debt | ||||||||
3,806 | 1,716 | 1,916 | 3,744 | 1,569 | 1,688 | 2,393 | 859 | 439 |
Repayments to Affiliate | ||||||||
- | - | - | 18 | 37 | 37 | 116 | - | - |
Proceeds from long-term debt | ||||||||
4,122 | 1,904 | 1,816 | 3,753 | 1,855 | 3,107 | 2,522 | 800 | 273 |
Proceeds from the issuance of ordinary shares, net | ||||||||
- | - | - | - | - | - | 473 | - | - |
Proceeds from the exercise of share options | ||||||||
- | - | - | - | - | 5 | 2 | - | - |
Proceeds from employee related plans | ||||||||
31 | 28 | 30 | 9 | 69 | - | - | - | - |
Net share settlement of restricted share units | ||||||||
20 | 13 | 6 | - | - | - | - | - | - |
Purchases of treasury shares | ||||||||
349 | 664 | - | 49 | 107 | 82 | - | - | - |
Early redemption premium | ||||||||
6 | 5 | 15 | 19 | - | - | - | - | - |
Deferred financing fees | ||||||||
23 | 118 | 56 | -54 | 16 | 116 | 57 | 49 | 1 |
NCLC partnership tax distributions | ||||||||
- | - | - | - | - | 0 | - | - | - |
Net cash provided by (used in) financing activities | ||||||||
-53 | -584 | -148 | -122 | 195 | 1,189 | 430 | -108 | -168 |
Net increase in cash and cash equivalents | ||||||||
89 | -12 | 47 | 12 | 31 | 28 | 10 | -13 | 3 |