Norwegian Cruise Line Holdings Ltd. (NCLH)

NCLH Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Net Income	663.53	910.26	166.18	-2,270	-4,507	-4,013
Depreciation & Amortization	1,034	973.51	883.24	810.05	758.6	739.62
Loss (Gain) From Sale of Assets	-2.19	-4.77	-6.85	-2.3	-9.49	-1.5
Asset Writedown & Restructuring Costs	-	-	-	-	-	1,608
Stock-Based Compensation	90.81	91.78	118.94	113.56	124.08	111.3
Provision & Write-off of Bad Debts	4.79	6.36	6.19	13.61	19.28	31.76
Other Operating Activities	215.33	-152.76	28.65	186.62	1,350	42.68
Change in Accounts Receivable	-55.08	49.3	39.65	828.66	-1,160	30.8
Change in Inventory	-11.53	6.95	-11.04	-33.61	-37.48	10.56
Change in Accounts Payable	37.76	-20.21	-50.98	-16.2	152.03	-21.42
Change in Unearned Revenue	-41.3	35.68	503.68	928.95	521.91	-811.85
Change in Other Net Operating Assets	93.39	153.71	328.06	-349.42	319.53	-283.47
Operating Cash Flow	2,030	2,050	2,006	210.02	-2,468	-2,556
Operating Cash Flow Growth	6.30%	2.20%	855.01%	-	-	-
Capital Expenditures	-3,065	-1,211	-2,750	-1,784	-752.84	-946.55
Cash Acquisitions	-	-27.32	-	-	-	-
Investment in Securities	-	-	-	240	-240	-
Other Investing Activities	-9.87	8.89	-146.78	-212.05	-11.2	-28.82
Investing Cash Flow	-3,075	-1,229	-2,897	-1,756	-1,004	-975.36
Long-Term Debt Issued	-	1,299	4,323	3,003	2,601	6,075
Long-Term Debt Repaid	-	-2,169	-3,758	-1,770	-2,113	-892.48
Total Debt Repaid	-8,624	-2,169	-3,758	-1,770	-2,113	-892.48
Net Debt Issued (Repaid)	1,211	-870.45	564.71	1,233	488.25	5,183
Issuance of Common Stock	145.27	-	5.31	5.27	2,669	1,547
Repurchase of Common Stock	-27.1	-25.33	-26.86	-20.99	-16.69	-15.41
Other Financing Activities	-449.91	-136.31	-196.3	-230.89	-1,462	-135.26
Financing Cash Flow	879.65	-1,032	346.86	986.22	1,678	6,579
Net Cash Flow	-165.72	-211.65	-544.57	-559.66	-1,794	3,048
Free Cash Flow	-1,036	838.87	-744.65	-1,574	-3,221	-3,503
Free Cash Flow Margin	-10.68%	8.85%	-8.71%	-32.49%	-497.06%	-273.67%
Free Cash Flow Per Share	-2.04	1.63	-1.74	-3.75	-8.81	-13.75
Cash Interest Paid	772.6	772.6	822.5	750.6	2,100	447.9
Cash Income Tax Paid	4.6	4.6	-3.1	-9.5	2.7	3.5
Levered Free Cash Flow	-1,289	572	-1,354	-496.86	-3,005	-2,365
Unlevered Free Cash Flow	-859.66	1,021	-904.71	4.08	-1,709	-2,081
Change in Working Capital	23.24	225.44	809.37	1,358	-204.01	-1,075

Updated Nov 4, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q