|
Condensed Financial Information of the Registrant (Tables)
|
12 Months Ended |
|
Dec. 31, 2013
|
| Condensed Statements of Operations |
Norwegian Cruise Line
Holdings Ltd.
Condensed Statements of
Operations
(in thousands, except
share and per share data)
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Years Ended
December 31, |
|
| |
|
2013 |
|
|
2012 |
|
|
2011 |
|
|
Other operating
expense
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Marketing, general and
administrative expense
|
|
$ |
2,890 |
|
|
$ |
— |
|
|
$ |
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total other operating
expense
|
|
|
2,890 |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-operating income
(expense)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Equity in earnings of
subsidiaries
|
|
|
118,643 |
|
|
|
168,556 |
|
|
|
126,859 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total non-operating income
(expense)
|
|
|
118,643 |
|
|
|
168,556 |
|
|
|
126,859 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income before income
taxes
|
|
|
115,753 |
|
|
|
168,556 |
|
|
|
126,859 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income tax
expense
|
|
|
(14,039 |
) |
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income
|
|
$ |
101,714 |
|
|
$ |
168,556 |
|
|
$ |
126,859 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings per
share
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
|
$ |
0.50 |
|
|
$ |
0.95 |
|
|
$ |
0.71 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted
|
|
$ |
0.49 |
|
|
$ |
0.94 |
|
|
$ |
0.71 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted-average shares
outstanding
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
|
|
202,993,839 |
|
|
|
178,232,850 |
|
|
|
177,869,461 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted
|
|
|
209,239,484 |
|
|
|
179,023,683 |
|
|
|
178,859,720 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Comprehensive
income
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income
|
|
$ |
101,714 |
|
|
$ |
168,556 |
|
|
$ |
126,859 |
|
|
Total other comprehensive
income (loss)
|
|
|
929 |
|
|
|
2,175 |
|
|
|
(24,103 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total other comprehensive
income
|
|
$ |
102,643 |
|
|
$ |
170,731 |
|
|
$ |
102,756 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Condensed Balance Sheets |
Norwegian Cruise Line
Holdings Ltd.
Condensed Balance
Sheets
(in thousands, except
for share data)
|
|
|
|
|
|
|
|
|
| |
|
December 31, |
|
| |
|
2013 |
|
|
2012 |
|
|
Assets
|
|
|
|
|
|
|
|
|
|
Cash and cash
equivalents
|
|
$ |
4,336 |
|
|
$ |
— |
|
|
Other assets
|
|
|
25,831 |
|
|
|
5,943 |
|
|
Due from NCLC
|
|
|
9,705 |
|
|
|
— |
|
|
Investment in
subsidiaries
|
|
|
2,609,903 |
|
|
|
2,010,318 |
|
|
|
|
|
|
|
|
|
|
|
Total assets
|
|
$ |
2,649,775 |
|
|
$ |
2,016,261 |
|
|
|
|
|
|
|
|
|
|
|
Liabilities and
Shareholders’ Equity
|
|
|
|
|
|
|
|
|
|
Liabilities:
|
|
|
|
|
|
|
|
|
|
Accrued expenses
|
|
$ |
27,225 |
|
|
$ |
— |
|
|
Deferred tax
liability
|
|
|
13,642 |
|
|
|
— |
|
|
Due to NCLC
|
|
|
— |
|
|
|
5,943 |
|
|
|
|
|
|
|
|
|
|
|
Total
liabilities
|
|
|
40,867 |
|
|
|
5,943 |
|
|
|
|
|
|
|
|
|
|
|
Shareholders’
equity:
|
|
|
|
|
|
|
|
|
|
Ordinary shares, $.001 par
value; 490,000,000 shares authorized; 205,160,340 shares issued and
outstanding at December 31, 2013, and $.0012 par value;
40,000,000 shares authorized; 21,000,000 shares issued and
outstanding at December 31, 2012
|
|
|
205 |
|
|
|
25 |
|
|
Additional paid-in
capital
|
|
|
2,822,864 |
|
|
|
2,327,097 |
|
|
Accumulated other
comprehensive income (loss)
|
|
|
(16,690 |
) |
|
|
(17,619 |
) |
|
Retained earnings
(deficit)
|
|
|
(197,471 |
) |
|
|
(299,185 |
) |
|
|
|
|
|
|
|
|
|
|
Total shareholders’
equity
|
|
|
2,608,908 |
|
|
|
2,010,318 |
|
|
|
|
|
|
|
|
|
|
|
Total liabilities and
shareholders’ equity
|
|
$ |
2,649,775 |
|
|
$ |
2,016,261 |
|
|
|
|
|
|
|
|
|
|
|
| Condensed Statements of Cash Flows |
Norwegian Cruise Line
Holdings Ltd.
Condensed Statements of
Cash Flows
(in
thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Year Ended
December 31, |
|
| |
|
2013 |
|
|
2012 |
|
|
2011 |
|
|
Cash flows from
operating activities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income
|
|
$ |
101,714 |
|
|
$ |
168,556 |
|
|
$ |
126,859 |
|
|
Adjustments to reconcile
net income to net cash used in operating activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Equity in earnings of
subsidiaries
|
|
|
(118,643 |
) |
|
|
(168,556 |
) |
|
|
(126,859 |
) |
|
Deferred income taxes,
net
|
|
|
13,642 |
|
|
|
— |
|
|
|
— |
|
|
Changes in operating assets
and liabilities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other assets
|
|
|
(19,888 |
) |
|
|
— |
|
|
|
— |
|
|
Due from NCLC
|
|
|
(9,705 |
) |
|
|
— |
|
|
|
— |
|
|
Accrued expenses
|
|
|
27,225 |
|
|
|
— |
|
|
|
— |
|
|
Due to NCLC
|
|
|
(5,943 |
) |
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net cash flows used in
operating activities
|
|
|
(11,598 |
) |
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash flows from
investing activities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investment in
subsidiary
|
|
|
(460,000 |
) |
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net cash flows used in
investing activities
|
|
|
(460,000 |
) |
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash flows from
financing activities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Proceeds from the issuance
of ordinary shares
|
|
|
473,914 |
|
|
|
— |
|
|
|
— |
|
|
Proceeds from the exercise
of share options
|
|
|
2,020 |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net cash flows provided by
financing activities
|
|
|
475,934 |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net increase in cash and
cash equivalents
|
|
|
4,336 |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents
at end of year
|
|
$ |
4,336 |
|
|
$ |
— |
|
|
$ |
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|