Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash flows from operating activities    
Net loss $ (1,370,192) $ (1,880,972)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization expense 183,808 195,195
Impairment loss   1,607,797
Deferred income taxes, net 6 (6,120)
Gain (loss) on derivatives (18,687) 13,619
Loss on extinguishment of debt 621,894  
Provision for bad debts and inventory obsolescence 4,329 8,372
Gain on involuntary conversion of assets (418)  
Share-based compensation expense 26,601 32,758
Net foreign currency adjustments (5,141) (1,386)
Changes in operating assets and liabilities:    
Accounts receivable, net (2,648) (23,109)
Inventories (2,351) 9,258
Prepaid expenses and other assets (406,813) 145,768
Accounts payable 6,626 258,215
Accrued expenses and other liabilities 35,341 (123,552)
Advance ticket sales 75,634 (288,544)
Net cash used in operating activities (852,011) (52,701)
Cash flows from investing activities    
Additions to property and equipment, net (136,350) (610,155)
Cash paid on settlement of derivatives (4,642) (28,606)
Other 2,726 868
Net cash used in investing activities (138,266) (637,893)
Cash flows from financing activities    
Repayments of long-term debt (870,396) (181,530)
Proceeds from long-term debt 1,161,672 2,007,870
Common share issuance proceeds, net 1,558,412  
Proceeds from employee related plans 1,089 4,100
Net share settlement of restricted share units (16,043) (14,975)
Early redemption premium (611,164)  
Deferred financing fees (25,742) (12,993)
Net cash provided by financing activities 1,197,828 1,802,472
Effect of exchange rates on cash and cash equivalents   (4,493)
Net increase in cash and cash equivalents 207,551 1,107,385
Cash and cash equivalents at beginning of period 3,300,482 252,876
Cash and cash equivalents at end of period $ 3,508,033 $ 1,360,261