XML 16 R6.htm IDEA: XBRL DOCUMENT v3.5.0.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Operating Activities    
Net income $ 1,022,302 $ 458,984
Adjustments:    
Depreciation and amortization 661,712 617,678
Impairment of Pullmantur related assets 0 411,267
Net deferred income tax expense (benefit) 1,601 (13,466)
Loss on derivative instruments not designated as hedges 6,353 49,607
Changes in operating assets and liabilities:    
Decrease in trade and other receivables, net 9,823 24,130
Increase in inventories (6,379) (8,377)
Decrease (increase) in prepaid expenses and other assets 2,484 (30,649)
Decrease in accounts payable (17,313) (22,915)
Increase in accrued interest 56,787 34,207
Increase in accrued expenses and other liabilities 23,216 11,558
Increase in customer deposits 197,277 65,511
Dividends received from unconsolidated affiliates 71,370 5,327
Other, net (28,281) 5,074
Net cash provided by operating activities 2,000,952 1,607,936
Investing Activities    
Purchases of property and equipment (2,313,831) (1,360,637)
Cash paid on settlement of derivative financial instruments (172,878) (158,890)
Investments in and loans to unconsolidated affiliates (8,611) (54,250)
Cash received on loans to unconsolidated affiliates 22,470 122,710
Other, net (1) [1] (44,709) (18,642)
Net cash used in investing activities (2,517,559) (1,469,709)
Financing Activities    
Debt proceeds 6,038,560 2,962,501
Debt issuance costs (83,793) (57,146)
Repayments of debt (4,818,262) (2,887,237)
Purchases of treasury stock (299,959) 0
Dividends paid (243,557) (197,718)
Proceeds from exercise of common stock options 1,782 6,902
Other, net 2,179 1,778
Net cash provided by (used in) financing activities 596,950 (170,920)
Effect of exchange rate changes on cash (23,480) (9,129)
Net increase (decrease) in cash and cash equivalents 56,863 (41,822)
Cash and cash equivalents at beginning of period 121,565 189,241
Cash and cash equivalents at end of period 178,428 147,419
Cash paid during the period for:    
Interest, net of amount capitalized 140,335 151,661
Non-cash Investing Activities    
Notes receivable issued upon sale of property and equipment 213,042 $ 0
Cash included in the divestiture of RCHE $ 26,000  
[1] Amount includes $26.0 million related to cash included in the divestiture of RCHE.