Annual report pursuant to Section 13 and 15(d)

Quarterly Selected Financial Data (Unaudited) (in thousands, except per share data)

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Quarterly Selected Financial Data (Unaudited) (in thousands, except per share data)
 12 Months Ended
Dec. 31, 2018
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Selected Financial Data (Unaudited) (in thousands, except per share data)
16. Quarterly Selected Financial Data (Unaudited) (in thousands, except per share data)

 

    First Quarter     Second Quarter     Third Quarter     Fourth Quarter  
    2018     2017     2018     2017     2018     2017     2018     2017  
Total revenue   $ 1,293,403     $ 1,150,781     $ 1,522,174     $ 1,344,103     $ 1,858,356     $ 1,651,738     $ 1,381,193     $ 1,249,553  
Operating income   $ 167,053     $  119,734     $ 292,152     $  275,071     $ 550,276     $  476,820     $ 209,580     $  177,194  
Net income   $ 103,155     $  61,910     $ 226,676     $  198,473     $ 470,378     $ 400,692     $ 154,634     $  98,797  
Earnings per share:                                                                
Basic   $ 0.45     $ 0.27     $ 1.02     $ 0.87     $ 2.12     $ 1.76     $ 0.70     $ 0.43  
Diluted   $ 0.45     $ 0.27     $ 1.01     $ 0.87     $ 2.11     $ 1.74     $ 0.70     $ 0.43  

 

The seasonality of the North American cruise industry generally results in the greatest demand for cruises during the Northern Hemisphere’s summer months. This predictable seasonality in demand has resulted in fluctuations in our revenue and results of operations. The seasonality of our results is increased due to ships being taken out of service for regularly scheduled Dry-docks, which we typically scheduled during non-peak demand periods.