Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

v3.22.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities    
Net loss $ (982,714) $ (1,370,192)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization expense 195,464 183,808
Gain on derivatives (19,779) (18,687)
Loss on extinguishment of debt 188,433 621,894
Provision for bad debts and inventory obsolescence 1,294 4,329
Gain on involuntary conversion of assets   (418)
Share-based compensation expense 32,792 26,601
Net foreign currency adjustments (4,126) (5,141)
Changes in operating assets and liabilities:    
Accounts receivable, net 618,853 (2,648)
Inventories (24,141) (2,351)
Prepaid expenses and other assets (632,610) (406,807)
Accounts payable (136,767) 6,626
Accrued expenses and other liabilities (25,587) 35,341
Advance ticket sales 417,877 75,634
Net cash used in operating activities (371,011) (852,011)
Cash flows from investing activities    
Additions to property and equipment, net (165,284) (136,350)
Purchases of short-term investments   (205,000)
Proceeds from maturities of short-term investments 240,000  
Cash paid on settlement of derivatives   (4,642)
Other 4,940 2,726
Net cash provided by (used in) investing activities 79,656 (343,266)
Cash flows from financing activities    
Repayments of long-term debt (935,444) (870,396)
Proceeds from long-term debt 2,073,175 1,161,672
Common share issuance proceeds, net   1,558,412
Proceeds from employee related plans 2,557 1,089
Net share settlement of restricted share units (11,961) (16,043)
Early redemption premium (172,012) (611,164)
Deferred financing fees (34,767) (25,742)
Net cash provided by financing activities 921,548 1,197,828
Net increase in cash and cash equivalents 630,193 2,551
Cash and cash equivalents at beginning of period 1,506,647 3,300,482
Cash and cash equivalents at end of period $ 2,136,840 $ 3,303,033