2018 Annual Report for Norwegian Cruiseline Holdings - F-8

The effects of the change on our consolidated statements of cash flows were as follows (in thousands):
Year Ended December 31,
As
Reported

2017
Previously
Reported

Cash flows from operating activities
Adjustments to reconcile net income to net cash
provided by operating activities:
Loss on extinguishment of debt (previously write-off
of financing fees)
$ 22,211 $
6,705 $
Changes in operating assets and liabilities:
Prepaid expenses and other assets
$ (22,714) $ (22,714) $
Net cash provided by operating activities
$1,601,247 $1,585,741 $
Cash flows from financing activities
Early redemption premium
Deferred financing fees and other
Net cash used in financing activities

As
Reported

2016
Previously
Reported

15,506

$

$

$

19,250

-
15,506

$ (13,363) $ (18,534) $
$1,264,087 $1,239,666 $

5,171
24,421

Effect of
Change

38,180

18,930

Effect of
Change

$ (15,506) $
- $ (15,506) $ (19,250) $
- $ (19,250)
$ (56,195) $ (56,195) $
- $ (54,060) $ (48,889) $ (5,171)
$ (148,506) $ (133,000) $ (15,506) $ (122,763) $ (98,342) $ (24,421)

Cash and Cash Equivalents
Cash and cash equivalents are stated at cost and include cash and investments with original maturities of three months or less at acquisition
and also include amounts due from credit card processors.
Accounts Receivable, Net
Accounts receivable are shown net of an allowance for doubtful accounts of $9.6 million and $5.9 million as of December 31, 2018 and
2017, respectively.
Inventories
Inventories mainly consist of provisions, supplies and fuel and are carried at the lower of cost or net realizable value using the first-in, firstout method of accounting.
Advertising Costs
Advertising costs are expensed as incurred except for those that result in tangible assets, including brochures, which are treated as prepaid
expenses and charged to expense as consumed. Advertising costs of $0.8 million and $2.4 million as of December 31, 2018 and 2017,
respectively, are included in prepaid expenses and other assets. Expenses related to advertising costs totaled $327.3 million, $289.1 million
and $270.5 million for the years ended December 31, 2018, 2017 and 2016, respectively.
Earnings Per Share
Basic earnings per share is computed by dividing net income by the basic weighted-average number of shares outstanding during each
period. Diluted earnings per share is computed by dividing net income by diluted weighted-average shares outstanding.
A reconciliation between basic and diluted earnings per share was as follows (in thousands, except share and per share data):
Year Ended December 31,
2018
2017
2016
$
954,843 $
759,872 $
633,085
223,001,739 228,040,825 227,121,875
1,417,466
1,377,501
728,411
224,419,205 229,418,326 227,850,286
$
4.28 $
3.33 $
2.79
$
4.25 $
3.31 $
2.78

Net income
Basic weighted-average shares outstanding
Dilutive effect of share awards
Diluted weighted-average shares outstanding
Basic earnings per share
Diluted earnings per share

F-8
2018 Annual Report for Norwegian Cruiseline Holdings

Table of Contents for the Digital Edition of 2018 Annual Report for Norwegian Cruiseline Holdings
