Quarterly Results Better than Carnival but still not impressive. ve in the last quarter. Worst part is they are packing $1 of debt for every $1 of assets and total debt went up another 2 BILLION over last year. This means there is no equity, it is 100% owed to lenders. Anything this massively over leaveraged is not a company I would put my money in. Exactly what are you getting for your investment? Lenders get interest and securiy over assets, shareholders get nothing.
NORWEGIAN CRUISE LINE HOLDINGS LTD.
CONSOLIDATED BALANCE SHEETS
(Unaudited)
(in thousands, except share data) |
| |
| | | June 30, | | December 31, |
| | | | 2022 | | | | 2021 | |
| Assets | | | | |
| Current assets: | | | | |
| Cash and cash equivalents | | $ | 1,903,238 | | | $ | 1,506,647 | |
| Short-term investments | | | — | | | | 240,000 | |
| Accounts receivable, net | | | 598,256 | | | | 1,167,473 | |
| Inventories | | | 154,397 | | | | 118,205 | |
| Prepaid expenses and other assets | | | 475,856 | | | | 269,243 | |
| Total current assets | | | 3,131,747 | | | | 3,301,568 | |
| Property and equipment, net | | | 13,641,345 | | | | 13,528,806 | |
| Goodwill | | | 98,134 | | | | 98,134 | |
| Tradenames | | | 500,525 | | | | 500,525 | |
| Other long-term assets | | | 1,741,449 | | | | 1,300,804 | |
| Total assets | | $ | 19,113,200 | | | $ | 18,729,837 | |
| Liabilities and shareholders' equity | | | | |
| Current liabilities: | | | | |
| Current portion of long-term debt | | $ | 1,005,198 | | | $ | 876,890 | |
| Accounts payable | | | 100,336 | | | | 233,172 | |
| Accrued expenses and other liabilities | | | 1,596,725 | | | | 1,059,034 | |
| Advance ticket sales | | | 2,331,203 | | | | 1,561,336 | |
| Total current liabilities | | | 5,033,462 | | | | 3,730,432 | |
| Long-term debt | | | 12,239,362 | | | | 11,569,700 | |
| Other long-term liabilities | | | 938,561 | | | | 997,055 | |
| Total liabilities | | | 18,211,385 | | | | 16,297,187 | |
| Commitments and contingencies | | | | |
| Shareholders' equity: | | | | |
| Ordinary shares, $0.001 par value; 980,000,000 shares authorized: 419,116,812 | | | | |
| shares issued and outstanding at June 30, 2022 and 416,891,915 shares issued and | | | | |
| outstanding at December 31, 2021 | | | 419 | | | | 417 | |
| Additional paid-in capital | | | 7,567,129 | | | | 7,513,725 | |
| Accumulated other comprehensive income (loss) | | | (377,292 | ) | | | (285,086 | ) |
| Accumulated deficit | | | (6,288,441 | ) | | | (4,796,406 | ) |
| Total shareholders' equity | | | 901,815 | | | | 2,432,650 | |
| Total liabilities and shareholders' equity | | $ | 19,113,200 | | | $ | 18,729,837 | |