Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets (Tables)

v3.20.1
Intangible Assets (Tables)
3 Months Ended
Mar. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of changes in the carrying amount of goodwill for each reporting unit

The changes in the carrying amount of goodwill for each reporting unit for the three months ended March 31, 2020 are as follows (in thousands):

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Reporting Unit

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Norwegian

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​

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Regent

​

​

​

​

Cruise

​

Oceania

​

Seven Seas

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Total

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​

Line

    

Cruises

    

Cruises

    

Goodwill

Balance, December 31, 2019

 

$

403,805

​

$

523,026

​

$

462,100

​

$

1,388,931

Impairment loss

 

​

(403,805)

 

​

(523,026)

 

​

(363,966)

 

​

(1,290,797)

Balance, March 31, 2020

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$

—

​

$

—

​

$

98,134

​

$

98,134

Schedule of gross carrying amounts of intangible assets, related accumulated amortization and the weighted average amortization periods of intangible assets

average amortization periods of the Company’s intangible assets are listed in the following tables (in thousands, except amortization period):

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​

​

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March 31, 2020

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Weighted-

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​

​

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Average

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​

Gross Carrying 

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Accumulated

​

Net Carrying

​

 Amortization

​

    

Amount

    

Amortization

    

Amount

    

Period (Years)

Customer relationships

​

$

120,000

​

$

(112,943)

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$

7,057

 

6.0

License

​

 

750

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(350)

​

 

400

 

10.0

Total intangible assets subject to amortization

​

$

120,750

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$

(113,293)

​

$

7,457

 

  

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​

​

​

​

​

​

​

​

​

​

​

​

​

​

December 31, 2019

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​

​

    

​

​

    

​

​

​

Weighted-

​

​

​

​

​

​

​

​

​

​

Average

​

​

Gross Carrying

​

Accumulated

​

Net Carrying 

​

Amortization

​

    

Amount

    

Amortization

    

Amount

    

Period (Years)

Customer relationships

​

$

120,000

​

$

(110,169)

​

$

9,831

 

6.0

Licenses

​

 

750

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(331)

​

 

419

 

10.0

Total intangible assets subject to amortization

​

$

120,750

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$

(110,500)

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$

10,250

 

  

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​

​

​

​

​

​

​

​

​

​

​

Schedule of aggregate amortization expense

The aggregate amortization expense for intangible assets is as follows (in thousands):

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​

​

​

​

​

​

​

Three Months Ended

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​

March 31, 

​

    

2020

    

2019

Amortization expense

​

$

2,793

​

$

4,622

Schedule of estimated aggregate amortization expense

The following table sets forth the Company’s estimated aggregate amortization expense for each of the five years below (in thousands):

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Amortization

Year Ended December 31, 

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Expense

2021

​

$

75

2022

​

​

75

2023

​

​

75

2024

​

​

75

2025

​

​

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