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10-Q Filing

NORWEGIAN CRUISE LINE HOLDINGS LTD. CIK: 1513761 Q1 2023
Filing Information
Form Type 10-Q
Accession Number 0001558370-23-008225
Period End Date 20230331
Filing Date 20230505
Fiscal Year 2023
Fiscal Period Q1
XBRL Instance nclh-20230331x10q_htm.xml
Balance Sheet 62 line items
Line Item Tag Value Unit Period
Ordinary shares, par value (in dollars per share) CommonStockParOrStatedValuePerShare $0.00 USD Point-in-time
Ordinary shares, par value (in dollars per share) CommonStockParOrStatedValuePerShare $0.00 USD Point-in-time
Ordinary shares, authorized CommonStockSharesAuthorized 980.00M shares Point-in-time
Ordinary shares, authorized CommonStockSharesAuthorized 980.00M shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $700.60M USD Point-in-time
Ordinary shares, issued CommonStockSharesIssued 424.16M shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $946.99M USD Point-in-time
Ordinary shares, issued CommonStockSharesIssued 421.41M shares Point-in-time
Ordinary shares, outstanding CommonStockSharesOutstanding 424.16M shares Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $326.27M USD Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $259.29M USD Point-in-time
Ordinary shares, outstanding CommonStockSharesOutstanding 421.41M shares Point-in-time
Inventories InventoryNet $145.95M USD Point-in-time
Inventories InventoryNet $148.72M USD Point-in-time
Prepaid expenses and other assets PrepaidExpenseAndOtherAssetsCurrent $538.83M USD Point-in-time
Prepaid expenses and other assets PrepaidExpenseAndOtherAssetsCurrent $450.89M USD Point-in-time
Total current assets AssetsCurrent $1.87B USD Point-in-time
Total current assets AssetsCurrent $1.64B USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $14.52B USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $14.51B USD Point-in-time
Goodwill Goodwill $98.13M USD Point-in-time
Goodwill Goodwill $98.13M USD Point-in-time
Trade names IntangibleAssetsNetExcludingGoodwill $500.52M USD Point-in-time
Trade names IntangibleAssetsNetExcludingGoodwill $500.52M USD Point-in-time
Other long-term assets OtherAssetsNoncurrent $1.60B USD Point-in-time
Other long-term assets OtherAssetsNoncurrent $1.57B USD Point-in-time
Total assets Assets $18.56B USD Point-in-time
Total assets Assets $18.35B USD Point-in-time
Current portion of long-term debt LongTermDebtAndCapitalLeaseObligationsCurrent $1.21B USD Point-in-time
Current portion of long-term debt LongTermDebtAndCapitalLeaseObligationsCurrent $991.13M USD Point-in-time
Accounts payable AccountsPayableCurrent $228.74M USD Point-in-time
Accounts payable AccountsPayableCurrent $203.23M USD Point-in-time
Accrued expenses and other liabilities AccruedLiabilitiesAndOtherLiabilitiesCurrent $1.11B USD Point-in-time
Accrued expenses and other liabilities AccruedLiabilitiesAndOtherLiabilitiesCurrent $1.32B USD Point-in-time
Advance ticket sales ContractWithCustomerLiabilityCurrent $3.18B USD Point-in-time
Advance ticket sales ContractWithCustomerLiabilityCurrent $2.52B USD Point-in-time
Total current liabilities LiabilitiesCurrent $5.70B USD Point-in-time
Total current liabilities LiabilitiesCurrent $5.05B USD Point-in-time
Long-term debt LongTermDebtAndCapitalLeaseObligations $12.63B USD Point-in-time
Long-term debt LongTermDebtAndCapitalLeaseObligations $11.92B USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $803.85M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $830.20M USD Point-in-time
Total liabilities Liabilities $18.49B USD Point-in-time
Total liabilities Liabilities $18.45B USD Point-in-time
Commitments and contingencies (Note 9) CommitmentsAndContingencies - USD Point-in-time
Commitments and contingencies (Note 9) CommitmentsAndContingencies - USD Point-in-time
Ordinary shares, $0.001 par value; 980,000,000 shares authorized; and 424,158,982 shares issued and outstanding at March 31, 2023 and 421,413,565 shares issued and outstanding at December 31, 2022 CommonStockValue $424.00K USD Point-in-time
Ordinary shares, $0.001 par value; 980,000,000 shares authorized; and 424,158,982 shares issued and outstanding at March 31, 2023 and 421,413,565 shares issued and outstanding at December 31, 2022 CommonStockValue $421.00K USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $7.61B USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $7.63B USD Point-in-time
Accumulated other comprehensive income (loss) AccumulatedOtherComprehensiveIncomeLossNetOfTax $-477.08M USD Point-in-time
Accumulated other comprehensive income (loss) AccumulatedOtherComprehensiveIncomeLossNetOfTax $-505.36M USD Point-in-time
Accumulated other comprehensive income (loss) AccumulatedOtherComprehensiveIncomeLossNetOfTax $-285.09M USD Point-in-time
Accumulated other comprehensive income (loss) AccumulatedOtherComprehensiveIncomeLossNetOfTax $-250.81M USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-7.07B USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-7.23B USD Point-in-time
Total shareholders' equity (deficit) StockholdersEquity $68.59M USD Point-in-time
Total shareholders' equity (deficit) StockholdersEquity $1.51B USD Point-in-time
Total shareholders' equity (deficit) StockholdersEquity $-99.55M USD Point-in-time
Total shareholders' equity (deficit) StockholdersEquity $2.43B USD Point-in-time
Total liabilities and shareholders' equity LiabilitiesAndStockholdersEquity $18.56B USD Point-in-time
Total liabilities and shareholders' equity LiabilitiesAndStockholdersEquity $18.35B USD Point-in-time
Income Statement 32 line items
Line Item Tag Value Unit Period
Total revenue RevenueFromContractWithCustomerIncludingAssessedTax $1.82B USD 1 Quarter
Total revenue RevenueFromContractWithCustomerIncludingAssessedTax $521.94M USD 1 Quarter
Total cruise operating expense CostOfGoodsAndServicesSold $735.41M USD 1 Quarter
Total cruise operating expense CostOfGoodsAndServicesSold $1.28B USD 1 Quarter
Marketing, general and administrative SellingGeneralAndAdministrativeExpense $336.01M USD 1 Quarter
Marketing, general and administrative SellingGeneralAndAdministrativeExpense $296.21M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $194.79M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $179.08M USD 1 Quarter
Total other operating expense OperatingExpenses $530.80M USD 1 Quarter
Total other operating expense OperatingExpenses $475.28M USD 1 Quarter
Operating income (loss) OperatingIncomeLoss $10.72M USD 1 Quarter
Operating income (loss) OperatingIncomeLoss $-688.76M USD 1 Quarter
Interest expense, net InterestIncomeExpenseNonoperatingNet $-327.69M USD 1 Quarter
Interest expense, net InterestIncomeExpenseNonoperatingNet $-171.26M USD 1 Quarter
Other income (expense), net OtherNonoperatingIncomeExpense $38.12M USD 1 Quarter
Other income (expense), net OtherNonoperatingIncomeExpense $-8.96M USD 1 Quarter
Total non-operating income (expense) NonoperatingIncomeExpense $-180.21M USD 1 Quarter
Total non-operating income (expense) NonoperatingIncomeExpense $-289.56M USD 1 Quarter
Net loss before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $-978.32M USD 1 Quarter
Net loss before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $-169.49M USD 1 Quarter
Income tax benefit (expense) IncomeTaxExpenseBenefit $-10.17M USD 1 Quarter
Income tax benefit (expense) IncomeTaxExpenseBenefit $4.39M USD 1 Quarter
Net loss NetIncomeLoss $-982.71M USD 1 Quarter
Net loss NetIncomeLoss $-159.32M USD 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 422.66M shares 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 417.73M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 417.73M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 422.66M shares 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $-0.38 USD 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $-2.35 USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted $-2.35 USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted $-0.38 USD 1 Quarter
Cash Flow Statement 58 line items
Line Item Tag Value Unit Period
Net loss NetIncomeLoss $-982.71M USD 1 Quarter
Net loss NetIncomeLoss $-159.32M USD 1 Quarter
Depreciation and amortization expense DepreciationDepletionAndAmortization $210.68M USD 1 Quarter
Depreciation and amortization expense DepreciationDepletionAndAmortization $195.46M USD 1 Quarter
(Gain) loss on derivatives UnrealizedGainLossOnDerivatives $-4.40M USD 1 Quarter
(Gain) loss on derivatives UnrealizedGainLossOnDerivatives $19.78M USD 1 Quarter
Loss on extinguishment of debt GainsLossesOnExtinguishmentOfDebt $-2.43M USD 1 Quarter
Loss on extinguishment of debt GainsLossesOnExtinguishmentOfDebt $-188.43M USD 1 Quarter
Provision for bad debts and inventory obsolescence ProvisionForBadDebtsAndInventory $1.29M USD 1 Quarter
Provision for bad debts and inventory obsolescence ProvisionForBadDebtsAndInventory $1.20M USD 1 Quarter
Share-based compensation expense ShareBasedCompensation $32.79M USD 1 Quarter
Share-based compensation expense ShareBasedCompensation $28.16M USD 1 Quarter
Net foreign currency adjustments ForeignCurrencyTransactionGainLossUnrealized $4.13M USD 1 Quarter
Net foreign currency adjustments ForeignCurrencyTransactionGainLossUnrealized $-1.02M USD 1 Quarter
Accounts receivable, net IncreaseDecreaseInAccountsReceivable $-618.85M USD 1 Quarter
Accounts receivable, net IncreaseDecreaseInAccountsReceivable $-65.39M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $-2.81M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $24.14M USD 1 Quarter
Prepaid expenses and other assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $127.19M USD 1 Quarter
Prepaid expenses and other assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $632.61M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $-25.93M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $-136.77M USD 1 Quarter
Accrued expenses and other liabilities IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities $-168.58M USD 1 Quarter
Accrued expenses and other liabilities IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities $-25.59M USD 1 Quarter
Advance ticket sales IncreaseDecreaseInContractWithCustomerLiability $668.26M USD 1 Quarter
Advance ticket sales IncreaseDecreaseInContractWithCustomerLiability $417.88M USD 1 Quarter
Net cash provided by (used in) operating activities NetCashProvidedByUsedInOperatingActivities $-371.01M USD 1 Quarter
Net cash provided by (used in) operating activities NetCashProvidedByUsedInOperatingActivities $503.33M USD 1 Quarter
Additions to property and equipment, net PaymentsToAcquirePropertyPlantAndEquipment $237.68M USD 1 Quarter
Additions to property and equipment, net PaymentsToAcquirePropertyPlantAndEquipment $165.28M USD 1 Quarter
Proceeds from maturities of short-term investments ProceedsFromSaleMaturityAndCollectionOfShorttermInvestments $240.00M USD 1 Quarter
Other, net PaymentsForProceedsFromOtherInvestingActivities $-4.94M USD 1 Quarter
Other, net PaymentsForProceedsFromOtherInvestingActivities $-1.32M USD 1 Quarter
Net cash provided by (used in) investing activities NetCashProvidedByUsedInInvestingActivities $-236.36M USD 1 Quarter
Net cash provided by (used in) investing activities NetCashProvidedByUsedInInvestingActivities $79.66M USD 1 Quarter
Repayments of long-term debt RepaymentsOfLongTermDebt $935.44M USD 1 Quarter
Repayments of long-term debt RepaymentsOfLongTermDebt $1.82B USD 1 Quarter
Proceeds from long-term debt ProceedsFromIssuanceOfLongTermDebt $1.33B USD 1 Quarter
Proceeds from long-term debt ProceedsFromIssuanceOfLongTermDebt $2.07B USD 1 Quarter
Proceeds from employee related plans ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans $2.62M USD 1 Quarter
Proceeds from employee related plans ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans $2.56M USD 1 Quarter
Net share settlement of restricted share units PaymentsRelatedToTaxWithholdingForShareBasedCompensation $11.31M USD 1 Quarter
Net share settlement of restricted share units PaymentsRelatedToTaxWithholdingForShareBasedCompensation $11.96M USD 1 Quarter
Early redemption premium PaymentsOfDebtExtinguishmentCosts $172.01M USD 1 Quarter
Deferred financing fees PaymentsOfDebtIssuanceCosts $13.89M USD 1 Quarter
Deferred financing fees PaymentsOfDebtIssuanceCosts $34.77M USD 1 Quarter
Net cash provided by (used in) financing activities NetCashProvidedByUsedInFinancingActivities $-513.36M USD 1 Quarter
Net cash provided by (used in) financing activities NetCashProvidedByUsedInFinancingActivities $921.55M USD 1 Quarter
Net increase (decrease) in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $630.19M USD 1 Quarter
Net increase (decrease) in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-246.39M USD 1 Quarter
Cash and cash equivalents at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $700.60M USD Point-in-time
Cash and cash equivalents at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $946.99M USD Point-in-time
Cash and cash equivalents at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $1.51B USD Point-in-time
Cash and cash equivalents at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $2.14B USD Point-in-time
Cash and cash equivalents at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $700.60M USD Point-in-time
Cash and cash equivalents at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $946.99M USD Point-in-time
Cash and cash equivalents at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $1.51B USD Point-in-time
Cash and cash equivalents at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $2.14B USD Point-in-time
Stockholders Equity 20 line items
Line Item Tag Value Unit Period
Balance StockholdersEquity $68.59M USD Point-in-time
Balance StockholdersEquity $1.51B USD Point-in-time
Balance StockholdersEquity $-99.55M USD Point-in-time
Balance StockholdersEquity $2.43B USD Point-in-time
Share-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $28.16M USD 1 Quarter
Share-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $32.79M USD 1 Quarter
Issuance of shares under employee related plans StockIssuedDuringPeriodValueEmployeeBenefitPlan $2.62M USD 1 Quarter
Issuance of shares under employee related plans StockIssuedDuringPeriodValueEmployeeBenefitPlan $2.56M USD 1 Quarter
Net share settlement of restricted share units AdjustmentsToAdditionalPaidInCapitalPaymentsRelatedToTaxWithHoldingForShareBasedCompensation $11.31M USD 1 Quarter
Net share settlement of restricted share units AdjustmentsToAdditionalPaidInCapitalPaymentsRelatedToTaxWithHoldingForShareBasedCompensation $11.96M USD 1 Quarter
Cumulative change in accounting policy RetainedEarningsAccumulatedDeficit $-7.07B USD Point-in-time
Cumulative change in accounting policy RetainedEarningsAccumulatedDeficit $-7.23B USD Point-in-time
Other comprehensive income (loss), net OtherComprehensiveIncomeLossNetOfTax $34.28M USD 1 Quarter
Other comprehensive income (loss), net OtherComprehensiveIncomeLossNetOfTax $-28.29M USD 1 Quarter
Net loss NetIncomeLoss $-982.71M USD 1 Quarter
Net loss NetIncomeLoss $-159.32M USD 1 Quarter
Balance StockholdersEquity $68.59M USD Point-in-time
Balance StockholdersEquity $1.51B USD Point-in-time
Balance StockholdersEquity $-99.55M USD Point-in-time
Balance StockholdersEquity $2.43B USD Point-in-time
Comprehensive Income 12 line items
Line Item Tag Value Unit Period
Net loss NetIncomeLoss $-982.71M USD 1 Quarter
Net loss NetIncomeLoss $-159.32M USD 1 Quarter
Shipboard Retirement Plan OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $-2.48M USD 1 Quarter
Shipboard Retirement Plan OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $-64.00K USD 1 Quarter
Net unrealized gain (loss) OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax $39.30M USD 1 Quarter
Net unrealized gain (loss) OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax $-18.48M USD 1 Quarter
Amount realized and reclassified into earnings OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax $7.50M USD 1 Quarter
Amount realized and reclassified into earnings OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax $9.87M USD 1 Quarter
Total other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTax $34.28M USD 1 Quarter
Total other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTax $-28.29M USD 1 Quarter
Total comprehensive loss ComprehensiveIncomeNetOfTax $-948.44M USD 1 Quarter
Total comprehensive loss ComprehensiveIncomeNetOfTax $-187.61M USD 1 Quarter

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

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