Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

v3.8.0.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Cash flows from operating activities    
Net income $ 661,075 $ 560,853
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense 385,957 327,366
(Gain) loss on derivatives (71) 1,007
Deferred income taxes, net 16,035 707
Write-off of deferred financing fees   11,537
Provision for bad debts and inventory 1,592 1,767
Share-based compensation expense 63,664 48,289
Changes in operating assets and liabilities:    
Accounts receivable, net 571 (11,286)
Inventories (13,923) (9,133)
Prepaid expenses and other assets (14,774) (16,197)
Accounts payable 3,956 2,551
Accrued expenses and other liabilities 68,425 (9,149)
Advance ticket sales 187,131 180,447
Net cash provided by operating activities 1,359,638 1,088,759
Cash flows from investing activities    
Additions to property and equipment, net (1,129,514) (915,936)
Settlement of derivatives (35,255) (34,300)
Net cash used in investing activities (1,164,769) (950,236)
Cash flows from financing activities    
Repayments of long-term debt (1,006,620) (2,687,621)
Repayments to Affiliate   (18,522)
Proceeds from long-term debt 1,217,060 2,687,355
Proceeds from employee related plans 28,063 7,215
Net share settlement of restricted share units (6,342)  
Purchases of treasury shares   (49,999)
Deferred financing fees and other (32,473) (37,457)
Net cash provided by (used in) financing activities 199,688 (99,029)
Net increase in cash and cash equivalents 394,557 39,494
Cash and cash equivalents at beginning of period 128,347 115,937
Cash and cash equivalents at end of period $ 522,904 $ 155,431