Annual report pursuant to Section 13 and 15(d)

Summary of Significant Accounting Policies (Tables)

v3.19.3.a.u2
Summary of Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2019
Accounting Policies [Abstract]  
Schedule of reconciliation between basic and diluted EPS

A reconciliation between basic and diluted earnings per share was as follows (in thousands, except share and per share data):

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Year Ended December 31, 

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2019

    

2018

 

2017

Net income

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$

930,228

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$

954,843

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$

759,872

Basic weighted-average shares outstanding

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214,929,977

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223,001,739

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228,040,825

Dilutive effect of share awards

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1,545,099

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1,417,466

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1,377,501

Diluted weighted-average shares outstanding

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216,475,076

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224,419,205

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229,418,326

Basic earnings per share

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$

4.33

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$

4.28

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$

3.33

Diluted earnings per share

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$

4.30

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$

4.25

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$

3.31

Schedule of estimated residual values of ships

Depreciation is computed on a straight-line basis over the estimated useful lives of the assets, after a 15% reduction for the estimated residual values of ships as follows:

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Useful Life

Ships

 

30 years

Computer hardware and software

 

3‑10 years

Other property and equipment

 

3‑40 years

Leasehold improvements

 

Shorter of lease term or asset life

Ship improvements

 

Shorter of asset life or life of the ship

Schedule of revenues by destination

Revenues by destination consisted of the following (in thousands):

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Year Ended December 31, 

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2019

    

2018

 

2017

North America

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$

3,807,576

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$

3,543,282

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$

3,285,903

Europe

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1,666,751

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1,462,698

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1,347,381

Asia-Pacific

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500,842

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721,404

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394,631

Other

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487,207

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327,742

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368,260

Total revenue

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$

6,462,376

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$

6,055,126

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$

5,396,175