XML 57 R5.htm IDEA: XBRL DOCUMENT v3.3.0.814
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Operating Activities    
Net income $ 458,984 $ 654,378
Adjustments:    
Depreciation and amortization 617,678 579,063
Impairment of Pullmantur related assets 411,267 0
Net deferred income tax (benefit) expense (13,466) 1,177
Loss on derivative instruments not designated as hedges 49,607 24,234
Loss on sale of property and equipment 0 17,401
Changes in operating assets and liabilities:    
Decrease in trade and other receivables, net 24,130 69,833
(Increase) decrease in inventories (8,377) 13,900
Increase in prepaid expenses and other assets (30,649) (3,596)
Decrease in accounts payable (22,915) (33,668)
Increase (decrease) in accrued interest 34,207 (36,693)
Increase in accrued expenses and other liabilities 11,558 48,600
Increase in customer deposits 65,511 104,211
Other, net 10,401 20,724
Net cash provided by operating activities 1,607,936 1,459,564
Investing Activities    
Purchases of property and equipment (1,360,637) (559,018)
Cash paid on settlement of derivative financial instruments (158,890) (14,808)
Investments in and loans to unconsolidated affiliates (54,250) (69,748)
Cash received on loans to unconsolidated affiliates 122,710 76,167
Proceeds from sale of property and equipment 0 220,000
Other, net (18,642) 2,592
Net cash used in investing activities (1,469,709) (344,815)
Financing Activities    
Debt proceeds 2,962,501 1,917,550
Debt issuance costs (57,146) (49,641)
Repayments of debt (2,887,237) (2,958,427)
Dividends paid (197,718) (131,857)
Proceeds from exercise of common stock options 6,902 65,885
Cash received on settlement of derivative financial instruments 0 22,835
Other, net 1,778 1,422
Net cash used in financing activities (170,920) (1,132,233)
Effect of exchange rate changes on cash (9,129) (4,022)
Net decrease in cash and cash equivalents (41,822) (21,506)
Cash and cash equivalents at beginning of period 189,241 204,687
Cash and cash equivalents at end of period 147,419 183,181
Cash paid during the period for:    
Interest, net of amount capitalized $ 151,661 $ 208,311