Norwegian Cruise Line Holdings Ltd NCLH

Quarterly Results

[DeanEdmonton]

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