| Condensed Financial Information of the Registrant |
| 11. |
Condensed Financial
Information of the Registrant |
Our debt
agreements limit or prohibit, and any of our future debt
arrangements may restrict, among other things, the ability of our
subsidiaries, including NCLC, to pay distributions to NCLH and our
ability to pay cash dividends to our shareholders. We are a holding
company and depend upon our subsidiaries for their ability to pay
distributions to us to finance any dividend or pay any other
obligations of NCLH. The following is our condensed financial
information.
Norwegian
Cruise Line Holdings Ltd.
CONDENSED
STATEMENTS OF OPERATIONS
(in
thousands, except share and per share data)
|
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| |
|
Years Ended December
31, |
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| |
|
2012 |
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|
2011 |
|
|
2010 |
|
|
Non-operating income
(expense)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Equity in
earnings of subsidiaries
|
|
$ |
168,556 |
|
|
$ |
126,859 |
|
|
$ |
22,986 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total non-operating
income (expense)
|
|
|
168,556 |
|
|
|
126,859 |
|
|
|
22,986 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income
|
|
$ |
168,556 |
|
|
$ |
126,859 |
|
|
$ |
22,986 |
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|
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Earnings per
share
|
|
|
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|
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|
|
|
Basic
|
|
$ |
0.95 |
|
|
$ |
0.71 |
|
|
$ |
0.13 |
|
|
|
|
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Diluted
|
|
$ |
0.94 |
|
|
$ |
0.71 |
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|
$ |
0.13 |
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Weighted-average
shares outstanding
|
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|
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|
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|
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Basic
|
|
|
178,232,850 |
|
|
|
177,869,461 |
|
|
|
177,563,047 |
|
|
|
|
|
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|
|
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|
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Diluted
|
|
|
179,023,683 |
|
|
|
178,859,720 |
|
|
|
178,461,210 |
|
|
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|
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Comprehensive
income
|
|
|
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|
|
|
|
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|
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Net income
|
|
$ |
168,556 |
|
|
$ |
126,859 |
|
|
$ |
22,986 |
|
|
Total other comprehensive
income (loss)
|
|
|
2,175 |
|
|
|
(24,103 |
) |
|
|
2,010 |
|
|
|
|
|
|
|
|
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|
|
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|
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Total other comprehensive
income
|
|
$ |
170,731 |
|
|
$ |
102,756 |
|
|
$ |
24,996 |
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|
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Norwegian
Cruise Line Holdings Ltd.
CONDENSED
BALANCE SHEETS
(in
thousands, except for share data)
|
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|
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| |
|
December
31, |
|
|
|
|
2012 |
|
|
2011 |
|
|
Assets
|
|
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|
|
|
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|
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Deferred
assets
|
|
$ |
5,943 |
|
|
$ |
3,680 |
|
|
Investment in
subsidiaries
|
|
|
2,010,318 |
|
|
|
1,836,657 |
|
|
|
|
|
|
|
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|
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Total assets
|
|
$ |
2,016,261 |
|
|
$ |
1,840,337 |
|
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|
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Liabilities and
Shareholders’ Equity
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Liabilities:
|
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|
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Due to
NCLC
|
|
$ |
5,943 |
|
|
$ |
3,680 |
|
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|
|
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|
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|
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Total
liabilities
|
|
$ |
5,943 |
|
|
$ |
3,680 |
|
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|
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|
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Shareholders’
equity:
|
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|
|
|
|
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|
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Ordinary shares, $.0012
par value; 40,000,000 shares authorized; 21,000,000 shares issued
and outstanding
|
|
|
25 |
|
|
|
25 |
|
|
Additional paid-in
capital
|
|
|
2,327,097 |
|
|
|
2,324,167 |
|
|
Accumulated other
comprehensive income (loss)
|
|
|
(17,619 |
) |
|
|
(19,794 |
) |
|
Retained earnings
(deficit)
|
|
|
(299,185 |
) |
|
|
(467,741 |
) |
|
|
|
|
|
|
|
|
|
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Total shareholders’
equity
|
|
|
2,010,318 |
|
|
|
1,836,657 |
|
|
|
|
|
|
|
|
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|
|
Total liabilities and
shareholders’ equity
|
|
$ |
2,016,261 |
|
|
$ |
1,840,337 |
|
|
|
|
|
|
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|
|
Norwegian
Cruise Line Holdings Ltd.
CONDENSED
STATEMENTS OF CASH FLOWS
(in
thousands)
|
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|
|
|
|
|
|
|
|
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|
| |
|
Year Ended December
31, |
|
|
|
|
2012 |
|
|
2011 |
|
|
2010 |
|
|
Cash flows from
operating activities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income
|
|
$ |
168,556 |
|
|
$ |
126,859 |
|
|
$ |
22,986 |
|
|
Adjustments to reconcile
net income to net cash provided by operating activities:
|
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|
|
|
|
|
|
|
|
|
|
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Equity in earnings of
subsidiaries
|
|
|
(168,556 |
) |
|
|
(126,859 |
) |
|
|
(22,986 |
) |
|
|
|
|
|
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|
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Cash flows from operating
activities
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
Net increase (decrease)
in cash and cash equivalents
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
Cash and cash equivalents
at beginning of year
|
|
|
— |
|
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|
— |
|
|
|
— |
|
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Cash and cash equivalents
at end of year
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
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