Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
 12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Cash flows from operating activities      
Net income $ 102,886 $ 168,556 $ 126,859
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization expense 245,111 216,137 211,049
Loss (gain) on derivatives (861) 1,945 (2,338)
Deferred income taxes, net 2,844    
Write-off of deferred financing fees 36,357 2,358  
Share-based compensation expense 23,075 5,160 1,211
Premium on debt issuance   6,000  
Changes in operating assets and liabilities:      
Accounts receivable, net (3,198) (4,592) (280)
Inventories (4,034) (3,447) (3,471)
Prepaid expenses and other assets (15,667) (3,490) (4,264)
Accounts payable 7,662 (1,228) 15,928
Accrued expenses and other liabilities 25,925 (3,107) (15,876)
Advance ticket sales 55,181 14,302 28,172
Net cash provided by operating activities 475,281 398,594 356,990
Cash flows from investing activities      
Additions to property and equipment and other (894,851) (303,840) (184,797)
Net cash flows used in investing activities (894,851) (303,840) (184,797)
Cash flows from financing activities      
Repayments of long-term debt (2,393,613) (859,422) (439,959)
Repayments to Affiliate (116,694)    
Proceeds from long-term debt 2,522,311 800,618 273,375
Proceeds from the issuance of ordinary shares, net 473,914    
Proceeds from the exercise of share options 2,020    
Deferred financing fees and other (57,401) (49,376) (1,730)
Net cash provided by (used in) financing activities 430,537 (108,180) (168,314)
Net increase (decrease) in cash and cash equivalents 10,967 (13,426) 3,879
Cash and cash equivalents at beginning of year 45,500 58,926 55,047
Cash and cash equivalents at end of year $ 56,467 $ 45,500 $ 58,926