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10-Q Filing

NORWEGIAN CRUISE LINE HOLDINGS LTD. CIK: 1513761 Q1 2017
Filing Information
Form Type 10-Q
Accession Number 0001571049-17-004802
Period End Date 20170331
Filing Date 20170510
Fiscal Year 2017
Fiscal Period Q1
XBRL Instance nclh-20170331.xml
Balance Sheet 68 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
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $219.79M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $128.35M USD Point-in-time
Ordinary shares, issued CommonStockSharesIssued 232.56M shares Point-in-time
Ordinary shares, issued CommonStockSharesIssued 233.22M shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $115.94M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $154.87M USD Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $63.22M USD Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $47.95M USD Point-in-time
Ordinary shares, outstanding CommonStockSharesOutstanding 227.24M shares Point-in-time
Ordinary shares, outstanding CommonStockSharesOutstanding 227.90M shares Point-in-time
Inventories InventoryNet $71.44M USD Point-in-time
Treasury stock, shares TreasuryStockShares 5.31M shares Point-in-time
Inventories InventoryNet $66.25M USD Point-in-time
Treasury stock, shares TreasuryStockShares 5.31M shares Point-in-time
Prepaid expenses and other assets PrepaidExpenseAndOtherAssetsCurrent $149.17M USD Point-in-time
Prepaid expenses and other assets PrepaidExpenseAndOtherAssetsCurrent $153.28M USD Point-in-time
Total current assets AssetsCurrent $488.35M USD Point-in-time
Total current assets AssetsCurrent $411.09M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $10.15B USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $10.12B 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 $238.67M USD Point-in-time
Other long-term assets OtherAssetsNoncurrent $232.28M USD Point-in-time
Total assets Assets $13.08B USD Point-in-time
Total assets Assets $12.97B USD Point-in-time
Current portion of long-term debt LongTermDebtAndCapitalLeaseObligationsCurrent $560.19M USD Point-in-time
Current portion of long-term debt LongTermDebtAndCapitalLeaseObligationsCurrent $531.78M USD Point-in-time
Accounts payable AccountsPayableCurrent $38.00M USD Point-in-time
Accounts payable AccountsPayableCurrent $71.12M USD Point-in-time
Accrued expenses and other liabilities AccruedLiabilitiesAndOtherLiabilitiesCurrent $541.75M USD Point-in-time
Accrued expenses and other liabilities AccruedLiabilitiesAndOtherLiabilitiesCurrent $531.38M USD Point-in-time
Advance ticket sales CustomerAdvancesCurrent $1.37B USD Point-in-time
Advance ticket sales CustomerAdvancesCurrent $1.17B USD Point-in-time
Total current liabilities LiabilitiesCurrent $2.31B USD Point-in-time
Total current liabilities LiabilitiesCurrent $2.51B USD Point-in-time
Long-term debt LongTermDebtAndCapitalLeaseObligations $5.84B USD Point-in-time
Long-term debt LongTermDebtAndCapitalLeaseObligations $5.64B USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $284.87M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $300.04M USD Point-in-time
Total liabilities Liabilities $8.45B USD Point-in-time
Total liabilities Liabilities $8.44B USD Point-in-time
Commitments and contingencies (Note 8) CommitmentsAndContingencies - USD Point-in-time
Commitments and contingencies (Note 8) CommitmentsAndContingencies - USD Point-in-time
Ordinary shares, $.001 par value; 490,000,000 shares authorized; 233,216,457 shares issued and 227,904,496 shares outstanding at March 31, 2017 and 232,555,937 shares issued and 227,243,976 shares outstanding at December 31, 2016 CommonStockValue $232.00K USD Point-in-time
Ordinary shares, $.001 par value; 490,000,000 shares authorized; 233,216,457 shares issued and 227,904,496 shares outstanding at March 31, 2017 and 232,555,937 shares issued and 227,243,976 shares outstanding at December 31, 2016 CommonStockValue $232.00K USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $3.91B USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $3.89B USD Point-in-time
Accumulated other comprehensive income (loss) AccumulatedOtherComprehensiveIncomeLossNetOfTax $-412.65M USD Point-in-time
Accumulated other comprehensive income (loss) AccumulatedOtherComprehensiveIncomeLossNetOfTax $-311.95M USD Point-in-time
Accumulated other comprehensive income (loss) AccumulatedOtherComprehensiveIncomeLossNetOfTax $-307.54M USD Point-in-time
Accumulated other comprehensive income (loss) AccumulatedOtherComprehensiveIncomeLossNetOfTax $-314.47M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $1.20B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $1.27B USD Point-in-time
Treasury shares (5,311,961 ordinary shares at March 31, 2017 and December 31, 2016, at cost) TreasuryStockValue $239.25M USD Point-in-time
Treasury shares (5,311,961 ordinary shares at March 31, 2017 and December 31, 2016, at cost) TreasuryStockValue $239.25M USD Point-in-time
Total shareholders' equity StockholdersEquity $3.78B USD Point-in-time
Total shareholders' equity StockholdersEquity $4.54B USD Point-in-time
Total shareholders' equity StockholdersEquity $4.63B USD Point-in-time
Total shareholders' equity StockholdersEquity $3.93B USD Point-in-time
Total liabilities and shareholders' equity LiabilitiesAndStockholdersEquity $12.97B USD Point-in-time
Total liabilities and shareholders' equity LiabilitiesAndStockholdersEquity $13.08B USD Point-in-time
Income Statement 48 line items
Line Item Tag Value Unit Period
Passenger ticket PassengerRevenue $786.69M USD 1 Quarter
Passenger ticket PassengerRevenue $740.11M USD 1 Quarter
Onboard and other OnboardAndOtherRevenue $364.09M USD 1 Quarter
Onboard and other OnboardAndOtherRevenue $337.52M USD 1 Quarter
Total revenue Revenues $1.08B USD 1 Quarter
Total revenue Revenues $1.15B USD 1 Quarter
Commissions, transportation and other CommissionsTransportationAndOtherCost $194.14M USD 1 Quarter
Commissions, transportation and other CommissionsTransportationAndOtherCost $175.44M USD 1 Quarter
Onboard and other OnboardAndOtherExpense $68.41M USD 1 Quarter
Onboard and other OnboardAndOtherExpense $63.97M USD 1 Quarter
Payroll and related LaborAndRelatedExpense $192.64M USD 1 Quarter
Payroll and related LaborAndRelatedExpense $177.14M USD 1 Quarter
Fuel FuelCosts $88.89M USD 1 Quarter
Fuel FuelCosts $81.67M USD 1 Quarter
Food FoodAndBeverageCostOfSales $51.00M USD 1 Quarter
Food FoodAndBeverageCostOfSales $46.18M USD 1 Quarter
Other OtherCostOfServices $129.55M USD 1 Quarter
Other OtherCostOfServices $115.26M USD 1 Quarter
Total cruise operating expense DirectOperatingCosts $664.48M USD 1 Quarter
Total cruise operating expense DirectOperatingCosts $719.80M USD 1 Quarter
Marketing, general and administrative SellingGeneralAndAdministrativeExpense $180.57M USD 1 Quarter
Marketing, general and administrative SellingGeneralAndAdministrativeExpense $192.04M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $101.30M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $119.20M USD 1 Quarter
Total other operating expense OperatingExpenses $311.25M USD 1 Quarter
Total other operating expense OperatingExpenses $281.87M USD 1 Quarter
Operating income OperatingIncomeLoss $131.28M USD 1 Quarter
Operating income OperatingIncomeLoss $119.73M USD 1 Quarter
Interest expense, net InterestIncomeExpenseNet $-59.75M USD 1 Quarter
Interest expense, net InterestIncomeExpenseNet $-52.96M USD 1 Quarter
Other income (expense), net OtherOperatingIncomeExpenseNet $2.81M USD 1 Quarter
Other income (expense), net OtherOperatingIncomeExpenseNet $-2.81M USD 1 Quarter
Total non-operating income (expense) NonoperatingIncomeExpense $-56.95M USD 1 Quarter
Total non-operating income (expense) NonoperatingIncomeExpense $-55.77M USD 1 Quarter
Net income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $74.33M USD 1 Quarter
Net income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $63.96M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $1.10M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $2.05M USD 1 Quarter
Net income ProfitLoss $73.23M USD 1 Quarter
Net income ProfitLoss $61.91M USD 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 227.47M shares 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 227.24M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 228.56M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 228.11M shares 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $0.32 USD 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $0.27 USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted $0.32 USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted $0.27 USD 1 Quarter
Cash Flow Statement 53 line items
Line Item Tag Value Unit Period
Net income ProfitLoss $73.23M USD 1 Quarter
Net income ProfitLoss $61.91M USD 1 Quarter
Depreciation and amortization expense DepreciationDepletionAndAmortization $104.69M USD 1 Quarter
Depreciation and amortization expense DepreciationDepletionAndAmortization $121.59M USD 1 Quarter
Loss (gain) on derivatives UnrealizedGainLossOnDerivatives $-406.00K USD 1 Quarter
Loss (gain) on derivatives UnrealizedGainLossOnDerivatives $11.95M USD 1 Quarter
Deferred income taxes, net DeferredIncomeTaxExpenseBenefit $158.00K USD 1 Quarter
Deferred income taxes, net DeferredIncomeTaxExpenseBenefit $1.19M USD 1 Quarter
Provision for bad debts and inventory ProvisionForBadDebtsAndInventory $575.00K USD 1 Quarter
Provision for bad debts and inventory ProvisionForBadDebtsAndInventory $323.00K USD 1 Quarter
Share-based compensation expense ShareBasedCompensation $15.24M USD 1 Quarter
Share-based compensation expense ShareBasedCompensation $18.20M USD 1 Quarter
Accounts receivable, net IncreaseDecreaseInAccountsReceivable $-14.94M USD 1 Quarter
Accounts receivable, net IncreaseDecreaseInAccountsReceivable $1.04M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $4.36M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $5.18M USD 1 Quarter
Prepaid expenses and other assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $5.39M USD 1 Quarter
Prepaid expenses and other assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $9.47M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $2.75M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $27.42M USD 1 Quarter
Accrued expenses and other liabilities IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities $-19.32M USD 1 Quarter
Accrued expenses and other liabilities IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities $7.57M USD 1 Quarter
Advance ticket sales IncreaseDecreaseInCustomerAdvances $222.94M USD 1 Quarter
Advance ticket sales IncreaseDecreaseInCustomerAdvances $148.62M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivitiesContinuingOperations $434.94M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivitiesContinuingOperations $330.10M USD 1 Quarter
Additions to property and equipment, net PaymentsToAcquirePropertyPlantAndEquipment $132.03M USD 1 Quarter
Additions to property and equipment, net PaymentsToAcquirePropertyPlantAndEquipment $117.78M USD 1 Quarter
Settlement of derivatives PaymentsForDerivativeInstrumentInvestingActivities $1.17M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivitiesContinuingOperations $-117.78M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivitiesContinuingOperations $-133.19M USD 1 Quarter
Repayments of long-term debt RepaymentsOfLongTermDebt $465.24M USD 1 Quarter
Repayments of long-term debt RepaymentsOfLongTermDebt $308.25M USD 1 Quarter
Proceeds from long-term debt ProceedsFromIssuanceOfLongTermDebt $236.00M USD 1 Quarter
Proceeds from long-term debt ProceedsFromIssuanceOfLongTermDebt $204.00M USD 1 Quarter
Proceeds from employee related plans ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans $9.47M USD 1 Quarter
Proceeds from employee related plans ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans $3.15M USD 1 Quarter
Net share settlement of restricted share units ProceedsFromRepurchaseOfEquity $-4.55M USD 1 Quarter
Purchases of treasury shares PaymentsForRepurchaseOfCommonStock $50.00M USD 1 Quarter
Deferred financing fees and other ProceedsFromPaymentsForOtherFinancingActivities $-6.87M USD 1 Quarter
Deferred financing fees and other ProceedsFromPaymentsForOtherFinancingActivities $-1.40M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivitiesContinuingOperations $-157.97M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivitiesContinuingOperations $-225.72M USD 1 Quarter
Net increase in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $38.93M USD 1 Quarter
Net increase in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $91.44M USD 1 Quarter
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $219.79M USD Point-in-time
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $128.35M USD Point-in-time
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $115.94M USD Point-in-time
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $154.87M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $219.79M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $128.35M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $115.94M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $154.87M USD Point-in-time
Stockholders Equity 19 line items
Line Item Tag Value Unit Period
Balance StockholdersEquity $3.78B USD Point-in-time
Balance StockholdersEquity $4.54B USD Point-in-time
Balance StockholdersEquity $4.63B USD Point-in-time
Balance StockholdersEquity $3.93B USD Point-in-time
Share-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $18.20M USD 1 Quarter
Share-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $15.24M USD 1 Quarter
Issuance of shares under employee related plans StockIssuedDuringPeriodValueEmployeeStockPurchasePlan $9.47M USD 1 Quarter
Issuance of shares under employee related plans StockIssuedDuringPeriodValueEmployeeStockPurchasePlan $3.15M USD 1 Quarter
Treasury shares TreasuryStockValueAcquiredCostMethod $50.00M USD 1 Quarter
Change in accounting policy (share-based forfeitures) NewAccountingPronouncementOrChangeInAccountingPrincipleCumulativeEffectOfChangeOnEquity - USD 1 Quarter
Net settlement of restricted share units AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition $-4.55M USD 1 Quarter
Other comprehensive income, net OtherComprehensiveIncomeLossNetOfTax $105.11M USD 1 Quarter
Other comprehensive income, net OtherComprehensiveIncomeLossNetOfTax $2.53M USD 1 Quarter
Net income ProfitLoss $73.23M USD 1 Quarter
Net income ProfitLoss $61.91M USD 1 Quarter
Balance StockholdersEquity $3.78B USD Point-in-time
Balance StockholdersEquity $4.54B USD Point-in-time
Balance StockholdersEquity $4.63B USD Point-in-time
Balance StockholdersEquity $3.93B USD Point-in-time
Comprehensive Income 12 line items
Line Item Tag Value Unit Period
Net income ProfitLoss $73.23M USD 1 Quarter
Net income ProfitLoss $61.91M USD 1 Quarter
Shipboard Retirement Plan OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $-108.00K USD 1 Quarter
Shipboard Retirement Plan OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $-105.00K USD 1 Quarter
Net unrealized gain (loss) OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax $70.45M USD 1 Quarter
Net unrealized gain (loss) OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax $-7.28M USD 1 Quarter
Amount realized and reclassified into earnings OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax $-9.71M USD 1 Quarter
Amount realized and reclassified into earnings OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax $-34.55M USD 1 Quarter
Total other comprehensive income OtherComprehensiveIncomeLossNetOfTax $105.11M USD 1 Quarter
Total other comprehensive income OtherComprehensiveIncomeLossNetOfTax $2.53M USD 1 Quarter
Total comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $64.44M USD 1 Quarter
Total comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $178.34M USD 1 Quarter

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

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