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10-Q Filing

NORWEGIAN CRUISE LINE HOLDINGS LTD. CIK: 1513761 Q1 2019
Filing Information
Form Type 10-Q
Accession Number 0001144204-19-025197
Period End Date 20190331
Filing Date 20190510
Fiscal Year 2019
Fiscal Period Q1
XBRL Instance nclh-20190331.xml
Balance Sheet 66 line items
Line Item Tag Value Unit Period
Ordinary shares, par value (in dollars per shares) CommonStockParOrStatedValuePerShare $0.00 USD Point-in-time
Ordinary shares, par value (in dollars per shares) CommonStockParOrStatedValuePerShare $0.00 USD Point-in-time
Ordinary shares, authorized CommonStockSharesAuthorized 490.00M shares Point-in-time
Ordinary shares, authorized CommonStockSharesAuthorized 490.00M shares Point-in-time
Ordinary shares, issued CommonStockSharesIssued 235.48M shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $163.85M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $301.75M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $304.71M USD Point-in-time
Ordinary shares, issued CommonStockSharesIssued 236.84M shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $176.19M USD Point-in-time
Ordinary shares, outstanding CommonStockSharesOutstanding 217.65M shares Point-in-time
Ordinary shares, outstanding CommonStockSharesOutstanding 215.39M shares Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $55.25M USD Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $57.05M USD Point-in-time
Treasury stock, shares TreasuryStockShares 17.83M shares Point-in-time
Inventories InventoryNet $90.20M USD Point-in-time
Inventories InventoryNet $90.10M USD Point-in-time
Treasury stock, shares TreasuryStockShares 21.46M shares Point-in-time
Prepaid expenses and other assets PrepaidExpenseAndOtherAssetsCurrent $241.01M USD Point-in-time
Prepaid expenses and other assets PrepaidExpenseAndOtherAssetsCurrent $316.53M USD Point-in-time
Total current assets AssetsCurrent $768.39M USD Point-in-time
Total current assets AssetsCurrent $550.31M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $12.12B USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $12.18B USD Point-in-time
Goodwill Goodwill $1.39B USD Point-in-time
Goodwill Goodwill $1.39B USD Point-in-time
Tradenames IntangibleAssetsNetExcludingGoodwill $817.52M USD Point-in-time
Tradenames IntangibleAssetsNetExcludingGoodwill $817.52M USD Point-in-time
Other long-term assets OtherAssetsNoncurrent $329.95M USD Point-in-time
Other long-term assets OtherAssetsNoncurrent $605.24M USD Point-in-time
Total assets Assets $15.76B USD Point-in-time
Total assets Assets $15.21B USD Point-in-time
Current portion of long-term debt LongTermDebtAndCapitalLeaseObligationsCurrent $608.31M USD Point-in-time
Current portion of long-term debt LongTermDebtAndCapitalLeaseObligationsCurrent $681.22M USD Point-in-time
Accounts payable AccountsPayableCurrent $66.67M USD Point-in-time
Accounts payable AccountsPayableCurrent $159.56M USD Point-in-time
Accrued expenses and other liabilities AccruedLiabilitiesAndOtherLiabilitiesCurrent $731.22M USD Point-in-time
Accrued expenses and other liabilities AccruedLiabilitiesAndOtherLiabilitiesCurrent $716.50M USD Point-in-time
Advance ticket sales ContractWithCustomerLiabilityCurrent $2.02B USD Point-in-time
Advance ticket sales ContractWithCustomerLiabilityCurrent $1.59B USD Point-in-time
Total current liabilities LiabilitiesCurrent $3.15B USD Point-in-time
Total current liabilities LiabilitiesCurrent $3.43B USD Point-in-time
Long-term debt LongTermDebtAndCapitalLeaseObligations $5.81B USD Point-in-time
Long-term debt LongTermDebtAndCapitalLeaseObligations $5.93B USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $281.60M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $492.19M USD Point-in-time
Total liabilities Liabilities $9.86B USD Point-in-time
Total liabilities Liabilities $9.24B USD Point-in-time
Commitments and contingencies (Note 11) CommitmentsAndContingencies - USD Point-in-time
Commitments and contingencies (Note 11) CommitmentsAndContingencies - USD Point-in-time
Ordinary shares, $.001 par value; 490,000,000 shares authorized; 236,844,434 shares issued and 215,386,265 shares outstanding at March 31, 2019 and 235,484,613 shares issued and 217,650,644 shares outstanding at December 31, 2018 CommonStockValue $235.00K USD Point-in-time
Ordinary shares, $.001 par value; 490,000,000 shares authorized; 236,844,434 shares issued and 215,386,265 shares outstanding at March 31, 2019 and 235,484,613 shares issued and 217,650,644 shares outstanding at December 31, 2018 CommonStockValue $237.00K USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $4.13B USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $4.15B USD Point-in-time
Accumulated other comprehensive income (loss) AccumulatedOtherComprehensiveIncomeLossNetOfTax $-161.65M USD Point-in-time
Accumulated other comprehensive income (loss) AccumulatedOtherComprehensiveIncomeLossNetOfTax $-153.40M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $3.02B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $2.90B USD Point-in-time
Treasury shares (21,458,169 and 17,833,969 ordinary shares at March 31, 2019 and December 31, 2018, respectively, at cost) TreasuryStockValue $1.10B USD Point-in-time
Treasury shares (21,458,169 and 17,833,969 ordinary shares at March 31, 2019 and December 31, 2018, respectively, at cost) TreasuryStockValue $904.07M USD Point-in-time
Total shareholders' equity StockholdersEquity $5.96B USD Point-in-time
Total shareholders' equity StockholdersEquity $5.64B USD Point-in-time
Total shareholders' equity StockholdersEquity $5.75B USD Point-in-time
Total shareholders' equity StockholdersEquity $5.91B USD Point-in-time
Total liabilities and shareholders' equity LiabilitiesAndStockholdersEquity $15.21B USD Point-in-time
Total liabilities and shareholders' equity LiabilitiesAndStockholdersEquity $15.76B USD Point-in-time
Income Statement 38 line items
Line Item Tag Value Unit Period
Total revenue RevenueFromContractWithCustomerIncludingAssessedTax $1.40B USD 1 Quarter
Total revenue RevenueFromContractWithCustomerIncludingAssessedTax $1.29B USD 1 Quarter
Commissions, transportation and other CommissionsTransportationAndOtherCost $229.26M USD 1 Quarter
Commissions, transportation and other CommissionsTransportationAndOtherCost $218.34M USD 1 Quarter
Payroll and related LaborAndRelatedExpense $223.11M USD 1 Quarter
Payroll and related LaborAndRelatedExpense $209.82M USD 1 Quarter
Fuel FuelCosts $98.25M USD 1 Quarter
Fuel FuelCosts $93.43M USD 1 Quarter
Total cruise operating expense DirectOperatingCosts $768.09M USD 1 Quarter
Total cruise operating expense DirectOperatingCosts $826.65M USD 1 Quarter
Marketing, general and administrative SellingGeneralAndAdministrativeExpense $248.94M USD 1 Quarter
Marketing, general and administrative SellingGeneralAndAdministrativeExpense $227.01M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $131.24M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $169.74M USD 1 Quarter
Total other operating expense OperatingExpenses $418.68M USD 1 Quarter
Total other operating expense OperatingExpenses $358.26M USD 1 Quarter
Operating income OperatingIncomeLoss $167.05M USD 1 Quarter
Operating income OperatingIncomeLoss $158.30M USD 1 Quarter
Interest expense, net InterestIncomeExpenseNonoperatingNet $-59.70M USD 1 Quarter
Interest expense, net InterestIncomeExpenseNonoperatingNet $-73.50M USD 1 Quarter
Other income (expense), net OtherNonoperatingIncomeExpense $-434.00K USD 1 Quarter
Other income (expense), net OtherNonoperatingIncomeExpense $-1.67M USD 1 Quarter
Total non-operating income (expense) NonoperatingIncomeExpense $-61.36M USD 1 Quarter
Total non-operating income (expense) NonoperatingIncomeExpense $-73.94M USD 1 Quarter
Net income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $105.69M USD 1 Quarter
Net income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $84.36M USD 1 Quarter
Income tax benefit (expense) IncomeTaxExpenseBenefit $-33.80M USD 1 Quarter
Income tax benefit (expense) IncomeTaxExpenseBenefit $2.53M USD 1 Quarter
Net income ProfitLoss $103.16M USD 1 Quarter
Net income ProfitLoss $118.16M USD 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 227.34M shares 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 217.24M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 218.87M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 229.19M shares 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $0.45 USD 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $0.54 USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted $0.54 USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted $0.45 USD 1 Quarter
Cash Flow Statement 60 line items
Line Item Tag Value Unit Period
Net income ProfitLoss $103.16M USD 1 Quarter
Net income ProfitLoss $118.16M USD 1 Quarter
Depreciation and amortization expense DepreciationDepletionAndAmortization $134.55M USD 1 Quarter
Depreciation and amortization expense DepreciationDepletionAndAmortization $169.71M USD 1 Quarter
(Gain) loss on derivatives UnrealizedGainLossOnDerivatives $-4.00K USD 1 Quarter
(Gain) loss on derivatives UnrealizedGainLossOnDerivatives $10.00K USD 1 Quarter
Deferred income taxes, net DeferredIncomeTaxExpenseBenefit $-32.09M USD 1 Quarter
Deferred income taxes, net DeferredIncomeTaxExpenseBenefit $809.00K USD 1 Quarter
Loss on extinguishment of debt GainsLossesOnExtinguishmentOfDebt $-2.90M USD 1 Quarter
Provision for bad debts and inventory ProvisionForBadDebtsAndInventory $1.27M USD 1 Quarter
Provision for bad debts and inventory ProvisionForBadDebtsAndInventory $1.02M USD 1 Quarter
Share-based compensation expense ShareBasedCompensation $27.00M USD 1 Quarter
Share-based compensation expense ShareBasedCompensation $28.10M USD 1 Quarter
Net foreign currency adjustments ForeignCurrencyTransactionGainLossUnrealized $1.90M USD 1 Quarter
Accounts receivable, net IncreaseDecreaseInAccountsReceivable $2.18M USD 1 Quarter
Accounts receivable, net IncreaseDecreaseInAccountsReceivable $-1.62M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $-1.36M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $496.00K USD 1 Quarter
Prepaid expenses and other assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $51.91M USD 1 Quarter
Prepaid expenses and other assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $45.71M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $13.16M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $-89.91M USD 1 Quarter
Accrued expenses and other liabilities IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities $-44.28M USD 1 Quarter
Accrued expenses and other liabilities IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities $-3.18M USD 1 Quarter
Advance ticket sales IncreaseDecreaseInContractWithCustomerLiability $439.35M USD 1 Quarter
Advance ticket sales IncreaseDecreaseInContractWithCustomerLiability $375.64M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $535.38M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $610.76M USD 1 Quarter
Additions to property and equipment, net PaymentsToAcquirePropertyPlantAndEquipment $214.56M USD 1 Quarter
Additions to property and equipment, net PaymentsToAcquirePropertyPlantAndEquipment $143.87M USD 1 Quarter
Proceeds from promissory note ProceedsFromCollectionOfLoansReceivable $259.00K USD 1 Quarter
Proceeds from promissory note ProceedsFromCollectionOfLoansReceivable $249.00K USD 1 Quarter
Issuance of promissory note PaymentsToAcquireNotesReceivable $7.91M USD 1 Quarter
Cash received on settlement of derivatives PaymentsForProceedsFromDerivativeInstrumentInvestingActivities $-289.00K USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-143.62M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-221.92M USD 1 Quarter
Repayments of long-term debt RepaymentsOfLongTermDebt $2.35B USD 1 Quarter
Repayments of long-term debt RepaymentsOfLongTermDebt $252.83M USD 1 Quarter
Proceeds from long-term debt ProceedsFromIssuanceOfLongTermDebt $2.39B USD 1 Quarter
Proceeds from long-term debt ProceedsFromIssuanceOfLongTermDebt $290.88M USD 1 Quarter
Proceeds from employee related plans ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans $7.74M USD 1 Quarter
Proceeds from employee related plans ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans $5.96M USD 1 Quarter
Net share settlement of restricted share units PaymentsRelatedToTaxWithholdingForShareBasedCompensation $18.85M USD 1 Quarter
Net share settlement of restricted share units PaymentsRelatedToTaxWithholdingForShareBasedCompensation $12.17M USD 1 Quarter
Purchases of treasury shares PaymentsForRepurchaseOfCommonStock $263.50M USD 1 Quarter
Purchases of treasury shares PaymentsForRepurchaseOfCommonStock $200.00M USD 1 Quarter
Deferred financing fees ProceedsFromPaymentsForOtherFinancingActivities $-7.91M USD 1 Quarter
Deferred financing fees ProceedsFromPaymentsForOtherFinancingActivities $-109.92M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-341.58M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-172.60M USD 1 Quarter
Net increase in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $125.56M USD 1 Quarter
Net increase in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $140.86M USD 1 Quarter
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $163.85M USD Point-in-time
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $301.75M USD Point-in-time
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $304.71M USD Point-in-time
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $176.19M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $163.85M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $301.75M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $304.71M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $176.19M USD Point-in-time
Stockholders Equity 21 line items
Line Item Tag Value Unit Period
Balance StockholdersEquity $5.96B USD Point-in-time
Balance StockholdersEquity $5.64B USD Point-in-time
Balance StockholdersEquity $5.75B USD Point-in-time
Balance StockholdersEquity $5.91B USD Point-in-time
Share-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $28.10M USD 1 Quarter
Share-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $27.00M USD 1 Quarter
Issuance of shares under employee related plans StockIssuedDuringPeriodValueEmployeeBenefitPlan $7.74M USD 1 Quarter
Issuance of shares under employee related plans StockIssuedDuringPeriodValueEmployeeBenefitPlan $5.96M USD 1 Quarter
Treasury shares TreasuryStockValueAcquiredCostMethod $200.00M USD 1 Quarter
Treasury shares TreasuryStockValueAcquiredCostMethod $263.50M USD 1 Quarter
Net share settlement of restricted share units AdjustmentsToAdditionalPaidInCapitalPaymentsRelatedToTaxWithholdingForShareBasedCompensation $-12.17M USD 1 Quarter
Net share settlement of restricted share units AdjustmentsToAdditionalPaidInCapitalPaymentsRelatedToTaxWithholdingForShareBasedCompensation $-18.85M USD 1 Quarter
Cumulative change in accounting policy and share-based forfeitures NewAccountingPronouncementOrChangeInAccountingPrincipleCumulativeEffectOfChangeOnEquityOrNetAssets1 $-19.14M USD Point-in-time
Other comprehensive income, net OtherComprehensiveIncomeLossNetOfTaxEquityImapct $8.25M USD 1 Quarter
Other comprehensive income, net OtherComprehensiveIncomeLossNetOfTaxEquityImapct $46.91M USD 1 Quarter
Net income ProfitLoss $103.16M USD 1 Quarter
Net income ProfitLoss $118.16M USD 1 Quarter
Balance StockholdersEquity $5.96B USD Point-in-time
Balance StockholdersEquity $5.64B USD Point-in-time
Balance StockholdersEquity $5.75B USD Point-in-time
Balance StockholdersEquity $5.91B USD Point-in-time
Comprehensive Income 12 line items
Line Item Tag Value Unit Period
Net income ProfitLoss $103.16M USD 1 Quarter
Net income ProfitLoss $118.16M USD 1 Quarter
Shipboard Retirement Plan OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $-95.00K USD 1 Quarter
Shipboard Retirement Plan OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $-105.00K USD 1 Quarter
Net unrealized gain OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax $48.58M USD 1 Quarter
Net unrealized gain OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax $15.15M USD 1 Quarter
Amount realized and reclassified into earnings OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax $7.00M USD 1 Quarter
Amount realized and reclassified into earnings OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax $1.78M USD 1 Quarter
Total other comprehensive income OtherComprehensiveIncomeLossNetOfTax $46.90M USD 1 Quarter
Total other comprehensive income OtherComprehensiveIncomeLossNetOfTax $8.25M USD 1 Quarter
Total comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $150.05M USD 1 Quarter
Total comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $126.40M USD 1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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