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Fair Value Measurements and Derivative Instruments - Nonrecurring (Details) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Mar. 31, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Goodwill, impairment       $ 576,208  
Indefinite-life intangible asset, impairment   $ 30,800      
Right-of-use assets, impairment $ 13,300 45,900      
Equity method investments, impairment   39,700      
Total, impairment 156,497   $ 0 1,264,615 $ 0
Silversea Cruises          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Goodwill, impairment   $ 576,200   576,208  
Nonrecurring          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Indefinite-life intangible asset, impairment [1] 0     30,800  
Long-lived assets - vessels, impairment [2] 51,613     468,670  
Right-of-use assets, impairment [3] 13,276     59,221  
Equity method investments, impairment [4] 0     39,735  
Total, impairment 64,889     1,174,634  
Nonrecurring | Silversea Cruises          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Goodwill, impairment [5] 0     576,208  
Nonrecurring | Total Carrying Amount          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Indefinite-life intangible asset 299,173     299,173  
Long-lived assets - vessels [2] 28,607     28,607  
Right-of-use assets [3] 16,427     16,427  
Equity method investments [4] 0     0  
Total 852,785     852,785  
Nonrecurring | Total Carrying Amount | Silversea Cruises          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Silversea Cruises Goodwill [5] 508,578     508,578  
Nonrecurring | Total Fair Value          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Indefinite-life intangible asset 299,173     299,173  
Long-lived assets - vessels [2] 28,607     28,607  
Right-of-use assets [3] 16,427     16,427  
Equity method investments [4] 0     0  
Total 852,786     852,786  
Nonrecurring | Total Fair Value | Silversea Cruises          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Silversea Cruises Goodwill [5] 508,579     508,579  
Nonrecurring | Level 3          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Indefinite-life intangible asset [1] 299,173     299,173  
Long-lived assets - vessels [2] 28,607     28,607  
Right-of-use assets [3] 16,427     16,427  
Equity method investments [4] 0     0  
Total $ 852,786     $ 852,786  
Nonrecurring | Level 3 | Discount rate          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Indefinite-lived intangible assets, measurement input 13.25%     13.25%  
Nonrecurring | Level 3 | Royalty fee percentage          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Indefinite-lived intangible assets, measurement input 3.00%     3.00%  
Nonrecurring | Level 3 | Silversea Cruises          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Silversea Cruises Goodwill [5] $ 508,579     $ 508,579  
Nonrecurring | Level 3 | Silversea Cruises | Weighted average cost of capital          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Goodwill, measurement input 12.75%     12.75%  
[1] We estimated the fair value of our indefinite-life intangible asset using a discounted cash flow model and the relief-from-royalty method. For the Silversea Cruises trade name we used a discount rate of 13.25%, comparable to the rate used in valuing the Silversea Cruises reporting unit. Significant inputs in performing the fair value assessment for the trade name were the royalty rate of 3.0% and forecasted net revenues, which takes into consideration expected ship deliveries, including ship options. The fair value of the Silversea Cruises trade name was estimated as of March 31, 2020, the date of the last impairment test.
[2] For the vessels impaired as of March 31, 2020, we estimated the fair value of two of our vessels using a blended indication from the income and cost approaches and the fair value of the remaining vessels was estimated primarily based on their orderly liquidation values. For the vessels impaired as of June 30, 2020, we estimated the fair value of the vessels using a modified market approach based on the carrying values and orderly liquidation values of the vessels. A significant input in performing the fair value assessments for these vessels was management's expected use of the vessels, which takes into consideration forecasted operating results.
[3] Impairments to our right-of-use assets relate to certain of our berthing arrangements and a ship operating lease. We estimated the fair value of the berthing arrangements using estimated projected discounted cash flows and the fair value of the ship operating lease was estimated using a cost approach. The fair value of the berthing arrangements was estimated as of March 31, 2020, the date these assets were last impaired, and a significant input in performing the fair value assessments for these assets was our expected passenger headcount. The fair value of the ship operating lease was estimated as of June 30, 2020 and significant inputs in performing the fair value assessment for this asset were current and residual values of the vessel, expected rate of return and remaining lease payments.
[4] We estimated the fair value of our other than temporarily impaired equity-method investments using a discounted cash flow model. A significant input in performing the fair value assessments for these assets was forecasted operating results for these investments. The fair value of these equity-method investments was estimated as of March 31, 2020, the date these assets were last impaired.
[5] We estimated the fair value of the Silversea Cruises reporting unit using a probability-weighted discounted cash flow model in combination with a market based valuation approach. The principal assumptions used in the discounted cash flow model are projected operating results, weighted-average cost of capital and terminal value. Significantly impacting these assumptions were changes in market conditions associated with COVID-19 and its impact to the business and related operating plans. The discounted cash flow model used our 2020 projected operating results as a base. To that base we added future years’ cash flows through 2030 assuming multiple revenue and expense scenarios that reflect the impact of different global economic environments for this period on Silversea Cruises' reporting unit. We assigned a probability to each revenue and expense scenario. We discounted the projected cash flows using rates specific to Silversea Cruises' reporting unit based on its weighted-average cost of capital, which was determined to be 12.75%. A significant input in performing the fair value assessment for the Silversea Cruises goodwill was forecasted operating results, which takes into consideration expected ship deliveries, including ship options. The fair value of Silversea Cruises’ goodwill was estimated as of March 31, 2020, the date of the last impairment test.