CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands		9 Months Ended
		Sep. 30, 2019	Sep. 30, 2018
Operating Activities
Net Income		$ 1,627,126	$ 1,495,339
Adjustments:
Depreciation and amortization		924,180	753,529
Impairment losses		0	33,651
Net deferred income tax expense (benefit)		4,664	(2,926)
Loss on derivative instruments not designated as hedges		24,229	41,397
Share-based compensation expense		51,256	63,420
Equity investment income		(170,393)	(168,232)
Amortization of debt issuance costs		24,154	31,656
Amortization of commercial paper notes discount		23,583	3,844
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 in trade and other receivables, net		(36,682)	(17,141)
Increase in inventories		(13,640)	(21,760)
Decrease (increase) in prepaid expenses and other assets		41,757	(76,471)
Increase in accounts payable		51,011	35,433
Increase in accrued interest		50,011	45,735
Increase (decrease) in accrued expenses and other liabilities		81,026	(15,856)
Increase in customer deposits		261,335	349,230
Dividends received from unconsolidated affiliates	[1]	148,285	241,697
Other, net		(1,860)	(10,087)
Net cash provided by operating activities		3,107,068	2,746,984
Investing Activities
Purchases of property and equipment		(2,341,895)	(2,509,127)
Cash received on settlement of derivative financial instruments		6,442	74,008
Cash paid on settlement of derivative financial instruments		(86,671)	(50,891)
Investments in and loans to unconsolidated affiliates		(6,889)	(15,194)
Cash received on loans to unconsolidated affiliates		27,697	49,501
Proceeds from the sale of unconsolidated affiliate		0	13,215
Acquisition of Silversea Cruises, net of cash acquired		0	(916,135)
Other, net		(1,028)	(3,989)
Net cash used in investing activities		(2,402,344)	(3,358,612)
Financing Activities
Debt proceeds		3,080,564	6,626,295
Debt issuance costs		(42,491)	(54,775)
Repayments of debt		(3,424,339)	(5,833,602)
Proceeds from issuance of commercial paper notes		19,807,417	2,165,991
Repayments of commercial paper notes		(19,684,288)	(1,171,000)
Purchases of treasury stock		0	(575,039)
Dividends paid		(439,543)	(381,465)
Proceeds from exercise of common stock options		1,452	4,206
Other, net		(13,681)	(14,857)
Net cash (used in) provided by financing activities		(714,909)	765,754
Effect of exchange rate changes on cash		(937)	(19,417)
Net (decrease) increase in cash and cash equivalents		(11,122)	134,709
Cash and cash equivalents at beginning of period		287,852	120,112
Cash and cash equivalents at end of period		276,730	254,821
Cash paid during the period for:
Interest, net of amount capitalized		179,497	154,231
Non-cash Investing Activities
Contingent consideration for the acquisition of Silversea Cruises		$ 0	$ 44,000

[1] For the quarter ended September 30, 2019, TUI Cruises paid us dividends of €80.0 million, or approximately $88.5 million, based on the exchange rate at the time of the transactions. For the nine months ended September 30, 2019, TUI Cruises paid us dividends totaling €170.0 million, or approximately $190.3 million, based on the exchange rates at the time of the transactions. The amounts included in the table above are net of tax withholdings.