Norwegian cruise line holdings ltd. (NCLH)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12
Cash flows from operating activities
Net income (loss)

-1,880,972

121,297

450,584

240,190

118,157

154,634

470,378

226,676

103,155

98,797

400,692

198,473

61,910

72,232

342,378

145,246

73,229

38,312

251,787

158,494

-21,456

-25,648

203,278

113,279

51,692

36,407

172,894

-8,915

-97,500

1,053

128,188

36,031

3,284

Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization expense

195,195

164,605

156,026

156,757

169,714

146,818

145,312

140,296

134,546

135,527

137,339

127,025

121,593

118,269

115,098

107,582

104,686

122,474

113,144

110,184

104,533

91,571

72,078

71,520

69,708

64,968

64,197

60,466

55,480

55,356

55,039

53,272

52,470

Impairment loss

1,607,797

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred income taxes, net

-6,120

-403

4,062

2,301

-32,094

-2,490

1,818

1,371

809

-6,882

10,870

3,979

1,186

-3,155

319

230

158

411

434

364

60

9,425

-6,024

1,759

1,027

-8,182

8,058

925

2,043

-

-

-

-

Loss on derivatives

-13,619

-

-

-

-4

-

-

-

10

-

446

31

-406

928

1,859

-14,814

11,948

-4,632

5,582

1,552

-29,027

-7,145

-191

-13

75

666

-75

382

-112

-4,012

1,638

-3,337

3,766

Loss on extinguishment of debt

-

-9,409

0

-1,085

-2,903

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gain on contingent consideration

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

34,300

9,100

-

-

-

-

-

-

-

-

-

-

-

-

Write-off of financing fees

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3,875

0

0

195

-

-

-

-

0

0

22,315

14,042

-

-

-

-

Provision for bad debts and inventory obsolescence

8,372

1,032

1,795

35

1,022

2,150

1,223

931

1,266

839

1,057

212

323

2,099

652

540

575

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Share-based compensation expense

32,758

12,985

25,370

29,701

26,999

27,186

28,997

31,698

28,102

23,375

21,444

24,017

18,203

18,125

16,840

16,204

15,245

14,352

13,691

2,161

12,005

5,066

4,472

3,244

1,835

1,792

1,927

603

18,753

4,665

165

165

165

Net foreign currency adjustments

1,386

-2,392

3,610

-1,180

1,896

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Premium on debt issuance

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

6,000

Changes in operating assets and liabilities:
Accounts receivable, net

23,109

1,363

-2,380

12,942

2,179

10,237

3,562

3,705

-1,618

-14,479

11,730

2,642

-14,943

9,697

-5,049

15,293

1,042

5,240

5,194

5,843

-1,474

-420

-1,209

9,145

-260

543

1,347

2,983

-1,675

-57

3,368

1,453

-172

Inventories

-9,258

1,474

3,339

846

496

-5,185

2,815

12,785

-1,363

3,206

3,109

5,630

5,184

51

-541

5,314

4,360

6,017

-4,855

3,166

80

-7,287

-1,303

4,460

4,391

-2,186

472

3,138

2,610

-3,494

5,389

-1,888

3,440

Prepaid expenses and other assets

-145,768

76,081

-41,162

-20,445

59,821

-5,149

-40,308

29,267

45,709

7,940

-6,945

12,246

9,473

-2,834

-9,706

20,513

5,390

9,726

-9,333

5,444

4,488

2,097

-4,667

2,467

6,476

14,109

2,519

-473

-488

3,865

568

-4,573

3,630

Accounts payable

258,215

27,890

-4,835

8,224

-89,914

103,384

-642

-9,518

13,163

10,091

-6,173

-17,294

27,423

-8,306

13,416

-13,615

2,750

5,114

-10,799

-29,583

-17,455

-12,136

-2,871

23,165

-7,198

-11,771

1,459

29,401

-11,427

12,165

-1,650

-3,691

-8,052

Accrued expenses and other liabilities

-123,552

-1,524

46,966

-30,189

-44,281

-22,001

81,992

58,142

-3,180

-12,634

96,807

-9,061

-19,321

2,739

16,649

-33,370

7,572

-12,346

-6,067

48,544

-35,481

-52,235

12,624

17,473

3,432

31,405

9,429

-6,602

-8,307

-30,419

17,055

-21,899

32,156

Advance ticket sales

-288,544

84,438

-295,641

119,227

439,352

-53,665

-296,064

236,694

375,638

-33,119

-213,789

177,985

222,935

-45,476

-178,178

210,004

148,621

-90,431

-103,911

157,046

255,556

-109,549

-109,311

76,593

118,320

-24,549

-108,138

78,522

109,346

-24,447

-67,099

22,773

83,075

Net cash provided by (used in) operating activities

-52,701

341,851

420,980

532,304

527,470

355,070

466,300

643,040

610,761

241,609

439,907

484,787

434,944

175,328

340,721

417,942

330,096

68,792

261,691

396,905

314,790

-65,123

181,616

290,974

228,134

76,938

145,563

170,685

82,095

22,071

120,735

97,354

158,434

Cash flows from investing activities
Additions to property and equipment, net

610,155

1,021,185

202,097

199,329

214,559

205,118

110,244

1,107,560

143,874

242,700

64,249

947,488

117,777

176,155

151,037

632,872

132,027

791,176

125,752

131,925

73,131

99,803

77,271

41,256

746,310

41,517

76,745

673,868

85,152

73,985

54,882

150,640

24,333

Cash paid on settlement of derivatives

28,606

-

-

-

-

-

-

-

-

-

-

-

-

2,654

171

32,962

1,167

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from promissory note

-

-

-

-

-

-

-

-

249

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cash received on settlement of derivatives

-

0

578

-578

289

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other

-868

3,945

-11,766

4,306

-259

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in investing activities

-637,893

-1,035,267

-216,820

-214,094

-214,011

-206,581

-109,990

-1,042,512

-143,625

-240,129

-64,249

-982,743

-117,777

-178,678

-151,208

-665,834

-133,194

-875,785

-125,412

-131,925

-73,131

-931,823

-77,271

-41,256

-746,310

-59,086

-76,745

-673,868

-85,152

-73,985

-54,882

-150,640

-24,333

Cash flows from financing activities
Repayments of long-term debt

181,530

924,378

73,739

463,026

2,345,589

482,745

326,602

654,071

252,826

910,265

85,291

456,092

465,237

1,056,408

301,194

2,078,179

308,248

660,636

117,274

314,179

477,224

922,772

225,711

282,112

258,125

163,792

148,301

988,511

1,093,009

141,167

127,103

313,376

277,776

Repayments to Affiliate

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

18,523

0

18,520

79,651

-

-

-

-

Proceeds from long-term debt

2,007,870

1,470,297

0

260,000

2,392,000

413,513

46,000

1,154,474

290,878

599,330

0

981,060

236,000

1,066,573

123,239

2,360,116

204,000

1,480,058

35,691

116,027

224,033

2,006,434

186,742

130,094

784,451

163,001

70,057

1,544,728

744,525

215,628

64,785

369,200

151,005

Proceeds from the issuance of ordinary shares, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

897

0

0

473,017

-

-

-

-

Proceeds from the exercise of share options

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

11,504

3,233

51,790

2,776

923

1,818

340

-

-

-

-

-

-

-

-

Proceeds from employee related plans

4,100

13,734

6,835

3,624

7,744

2,177

7,616

13,065

5,961

1,969

14,850

3,747

9,466

1,954

3,036

1,031

3,148

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net share settlement of restricted share units

14,975

-35

105

1,980

18,850

60

425

1,244

12,171

-42

12,529

-1,637

-4,550

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchases of treasury shares

-

0

149,789

75

199,996

201,306

0

200,000

263,505

-

-

-

-

0

0

0

49,999

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred financing fees

12,993

13,903

29

1,419

7,911

2,723

1,445

224,169

-109,915

88,668

-1,473

-29,596

-1,404

-16,603

-5,127

-25,457

-6,873

23,070

-2,412

-3

-3,660

186,712

-70,330

-4

-197

114,122

-17,722

-45,123

6,124

45,741

542

810

2,283

Net cash provided by (used in) financing activities

1,802,472

539,034

-216,827

-202,993

-172,602

-271,099

-274,856

302,731

-341,578

-348,194

-72,069

497,482

-225,725

-23,734

-180,046

238,989

-157,972

692,750

-79,057

-213,444

-205,061

1,025,901

-111,959

-250,995

526,469

-18,345

-94,698

504,822

38,758

28,720

-62,860

55,014

-129,054

Effect of exchange rates on cash and cash equivalents

-4,493

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net increase in cash and cash equivalents

1,107,385

-154,382

-12,667

115,217

140,857

-122,610

81,454

-96,741

125,558

-346,714

303,589

-474

91,442

-27,084

9,467

-8,903

38,930

-114,243

57,222

51,536

36,598

28,955

-7,614

-1,277

8,293

-493

-25,880

1,639

35,701

-23,194

2,993

1,728

5,047