XML 20 R10.htm IDEA: XBRL DOCUMENT v3.5.0.2
Property and Equipment
6 Months Ended
Jun. 30, 2016
Property, Plant and Equipment [Abstract]  
Property and Equipment
Property and Equipment

In April 2016, we completed the previously announced sale of Splendour of the Seas to TUI Cruises for €188 million, or $213 million. Concurrent with the acquisition, TUI Cruises leased the ship to Thomson Cruises, an affiliate of TUI AG, our joint venture partner, who will operate the ship. The sale resulted in an immaterial gain.

In June 2016, we entered into an agreement to sell a ship to Thomson Cruises for $230.0 million in cash. The sale is scheduled to be completed in March 2017 in order to retain the future revenues to be generated for sailings through that date. We expect to recognize a gain on the sale, which we do not expect will have a material effect to our consolidated financial statements.