CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands		6 Months Ended
		Jun. 30, 2019	Jun. 30, 2018
Operating Activities
Net income		$ 736,761	$ 684,948
Adjustments:
Depreciation and amortization		603,885	493,606
Impairment losses		0	33,651
Net deferred income tax expense (benefit)		3,794	(893)
(Gain) loss on derivative instruments not designated as hedges		(713)	29,750
Share-based compensation expense		41,974	31,819
Equity investment income		(66,739)	(73,063)
Amortization of debt issuance costs		20,467	16,283
Loss on extinguishment of debt		6,326	0
Change in fair value of contingent consideration		10,700	0
Gain on sale of unconsolidated affiliate		0	(13,680)
Recognition of deferred gain		0	(21,794)
Changes in operating assets and liabilities:
(Increase) decrease in trade and other receivables, net		(14,262)	16,162
Increase in inventories		(14,436)	(10,485)
Increase in prepaid expenses and other assets		(51,443)	(152,626)
Increase in accounts payable		43,594	58,842
Increase in accrued interest		763	13,706
Increase (decrease) in accrued expenses and other liabilities		34,056	(71,254)
Increase in customer deposits		760,435	740,420
Dividends received from unconsolidated affiliates	[1]	80,572	158,942
Other, net		(207)	(2,748)
Net cash provided by operating activities		2,195,527	1,931,586
Investing Activities
Purchases of property and equipment		(1,866,141)	(2,212,880)
Cash received on settlement of derivative financial instruments		6,204	69,195
Cash paid on settlement of derivative financial instruments		(55,758)	(34,898)
Investments in and loans to unconsolidated affiliates		(3,046)	0
Cash received on loans to unconsolidated affiliates		19,509	37,607
Proceeds from the sale of unconsolidated affiliate		0	13,215
Other, net		(173)	(13,220)
Net cash used in investing activities		(1,899,405)	(2,140,981)
Financing Activities
Debt proceeds		2,749,564	3,929,322
Debt issuance costs		(35,454)	(48,535)
Repayments of debt		(3,008,893)	(3,029,944)
Proceeds from issuance of commercial paper notes		13,335,536	0
Repayments of commercial paper notes		(13,080,788)	0
Purchases of treasury stock		0	(369,476)
Dividends paid		(293,197)	(254,645)
Proceeds from exercise of common stock options		265	4,062
Other, net		(15,930)	(16,827)
Net cash (used in) provided by financing activities		(348,897)	213,957
Effect of exchange rate changes on cash		(76)	(15,676)
Net decrease in cash and cash equivalents		(52,851)	(11,114)
Cash and cash equivalents at beginning of period		287,852	120,112
Cash and cash equivalents at end of period		235,001	108,998
Cash paid during the period for:
Interest, net of amount capitalized		$ 141,961	$ 114,061

[1] For the quarter ended June 30, 2019, TUI Cruises paid us a dividend of €40.0 million, or approximately $45.6 million, based on the exchange rate at the time of the transaction. For the six months ended June 30, 2019, TUI Cruises paid us dividends totaling €90.0 million, or approximately $101.8 million, based on the exchange rates at the time of the transactions. The amounts included in the table above are net of tax withholdings.