Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets (Tables)

v3.20.2
Intangible Assets (Tables)
6 Months Ended
Jun. 30, 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 six months ended June 30, 2020 are as follows (in thousands):

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​

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​

​

​

​

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Reporting Unit

​

​

​

​

​

Norwegian

​

​

​

Regent

​

​

​

​

Cruise

​

Oceania

​

Seven Seas

​

Total

​

​

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, June 30, 2020

​

$

—

​

$

—

​

$

98,134

​

$

98,134

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

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​

​

​

​

​

​

​

​

​

​

​

​

​

June 30, 2020

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​

​

​

​

​

​

​

​

​

​

Weighted-

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​

​

​

​

​

​

​

​

​

Average

​

​

Gross Carrying 

​

Accumulated

​

Net Carrying

​

 Amortization

​

    

Amount

    

Amortization

    

Amount

    

Period (Years)

Customer relationships

​

$

120,000

​

$

(115,716)

​

$

4,284

 

6.0

License

​

 

750

​

 

(369)

​

 

381

 

10.0

Total intangible assets subject to amortization

​

$

120,750

​

$

(116,085)

​

$

4,665

 

  

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

December 31, 2019

​

    

​

​

    

​

​

    

​

​

​

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

​

 

(331)

​

 

419

 

10.0

Total intangible assets subject to amortization

​

$

120,750

​

$

(110,500)

​

$

10,250

 

  

​

​

​

​

​

​

​

​

​

​

​

​

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

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​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three Months Ended

​

Six Months Ended

​

​

June 30, 

​

June 30, 

​

    

2020

    

2019

    

2020

    

2019

Amortization expense

​

$

2,792

​

$

4,622

​

$

5,585

​

$

9,244

Schedule of aggregate amortization expense

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​

​

​

​

​

​

​

​

​

​

​

​

​

​

December 31, 2019

​

    

​

​

    

​

​

    

​

​

​

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

​

 

(331)

​

 

419

 

10.0

Total intangible assets subject to amortization

​

$

120,750

​

$

(110,500)

​

$

10,250

 

  

​

​

​

​

​

​

​

​

​

​

​

​

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, 

​

Expense

2021

​

$

75

2022

​

​

75

2023

​

​

75

2024

​

​

75

2025

​

​

44