Norwegian Cruise Line (NCLH) 10-Q8 Nov 222022 Q3 Quarterly reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Sep. 30, 2022	Oct. 31, 2022
Document And Entity Information
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2022
Document Transition Report	false
Entity File Number	001-35784
Entity Registrant Name	NORWEGIAN CRUISE LINE HOLDINGS LTD.
Entity Incorporation, State or Country Code	D0
Entity Tax Identification Number	98-0691007
Entity Address, Address Line One	7665 Corporate Center Drive
Entity Address, City or Town	Miami
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	33126
City Area Code	305
Local Phone Number	436-4000
Title of 12(b) Security	Ordinary shares, par value $0.001 per share
Trading Symbol	NCLH
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock Shares Outstanding		421,396,100
Entity Central Index Key	0001513761
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Amendment Flag	false

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Revenue
Total revenue	$ 1,615,510	$ 153,081	$ 3,324,631	$ 160,549
Cruise operating expense
Total cruise operating expense	1,238,898	439,756	3,047,627	890,338
Other operating expense
Marketing, general and administrative	375,291	229,142	1,000,578	617,820
Depreciation and amortization	186,551	173,289	547,214	517,867
Total other operating expense	561,842	402,431	1,547,792	1,135,687
Operating loss	(185,230)	(689,106)	(1,270,788)	(1,865,476)
Non-operating income (expense)
Interest expense, net	(152,330)	(161,205)	(624,392)	(1,122,905)
Other income (expense), net	31,461	4,720	100,572	57,464
Total non-operating income (expense)	(120,869)	(156,485)	(523,820)	(1,065,441)
Net loss before income taxes	(306,099)	(845,591)	(1,794,608)	(2,930,917)
Income tax benefit (expense)	10,705	(294)	7,179	(2,949)
Net loss	$ (295,394)	$ (845,885)	$ (1,787,429)	$ (2,933,866)
Weighted-average shares outstanding
Basic (in shares)	420,798,538	370,016,479	419,224,710	356,591,143
Diluted (in shares)	420,798,538	370,016,479	419,224,710	356,591,143
Loss per share
Basic (in dollars per share)	$ (0.70)	$ (2.29)	$ (4.26)	$ (8.23)
Diluted (in dollars per share)	$ (0.70)	$ (2.29)	$ (4.26)	$ (8.23)
Passenger ticket
Revenue
Total revenue	$ 1,105,908	$ 86,127	$ 2,242,255	$ 87,877
Commissions, transportation and other
Cruise operating expense
Total cruise operating expense	352,798	32,338	696,946	47,935
Onboard and other
Revenue
Total revenue	509,602	66,954	1,082,376	72,672
Cruise operating expense
Total cruise operating expense	126,740	19,306	255,445	21,841
Payroll and related
Cruise operating expense
Total cruise operating expense	287,390	154,440	790,697	323,225
Fuel
Cruise operating expense
Total cruise operating expense	186,984	79,238	503,682	175,931
Food
Cruise operating expense
Total cruise operating expense	76,810	16,672	177,483	27,314
Other
Cruise operating expense
Total cruise operating expense	$ 208,176	$ 137,762	$ 623,374	$ 294,092

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Statement of Comprehensive Income [Abstract]
Net loss	$ (295,394)	$ (845,885)	$ (1,787,429)	$ (2,933,866)
Other comprehensive loss:
Shipboard Retirement Plan	95	98	2,665	295
Cash flow hedges:
Net unrealized loss	(195,543)	(45,134)	(246,742)	(73,497)
Amount realized and reclassified into earnings	(31,762)	12,948	(75,339)	48,328
Total other comprehensive loss	(227,210)	(32,088)	(319,416)	(24,874)
Total comprehensive loss	$ (522,604)	$ (877,973)	$ (2,106,845)	$ (2,958,740)

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 1,186,714	$ 1,506,647
Short-term investments		240,000
Accounts receivable, net	393,118	1,167,473
Inventories	155,880	118,205
Prepaid expenses and other assets	421,672	269,243
Total current assets	2,157,384	3,301,568
Property and equipment, net	14,511,649	13,528,806
Goodwill	98,134	98,134
Trade names	500,525	500,525
Other long-term assets	1,683,237	1,300,804
Total assets	18,950,929	18,729,837
Current liabilities:
Current portion of long-term debt	1,012,722	876,890
Accounts payable	141,305	233,172
Accrued expenses and other liabilities	1,217,103	1,059,034
Advance ticket sales	2,291,624	1,561,336
Total current liabilities	4,662,754	3,730,432
Long-term debt	12,893,407	11,569,700
Other long-term liabilities	994,985	997,055
Total liabilities	18,551,146	16,297,187
Commitments and contingencies (Note 10)
Shareholders' equity:
Ordinary shares, $0.001 par value; 980,000,000 shares authorized; 421,393,338 shares issued and outstanding at September 30, 2022 and 416,891,915 shares issued and outstanding at December 31, 2021	421	417
Additional paid-in capital	7,587,699	7,513,725
Accumulated other comprehensive income (loss)	(604,502)	(285,086)
Accumulated deficit	(6,583,835)	(4,796,406)
Total shareholders' equity	399,783	2,432,650
Total liabilities and shareholders' equity	$ 18,950,929	$ 18,729,837

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2022	Dec. 31, 2021
Statement Of Financial Position [Abstract]
Ordinary shares, par value (in dollars per share)	$ 0.001	$ 0.001
Ordinary shares, authorized	980,000,000	980,000,000
Ordinary shares, issued	421,393,338	416,891,915
Ordinary shares, outstanding	421,393,338	416,891,915

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Cash flows from operating activities
Net loss	$ (1,787,429)	$ (2,933,866)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization expense	593,423	560,972
Gain on derivatives	(151)	(23,560)
Loss on extinguishment of debt	188,433	601,539
Provision for bad debts and inventory obsolescence	5,438	14,118
Gain on involuntary conversion of assets	(1,880)	(7,706)
Share-based compensation expense	88,923	88,974
Net foreign currency adjustments on euro-denominated debt	(17,672)	(7,238)
Changes in operating assets and liabilities:
Accounts receivable, net	765,692	(979,890)
Inventories	(38,388)	(26,676)
Prepaid expenses and other assets	(555,561)	(65,771)
Accounts payable	(97,802)	15,014
Accrued expenses and other liabilities	116,947	142,144
Advance ticket sales	713,447	469,595
Net cash used in operating activities	(26,580)	(2,152,351)
Cash flows from investing activities
Additions to property and equipment, net	(1,628,442)	(539,530)
Purchases of short-term investments		(770,000)
Proceeds from maturities of short-term investments	240,000	205,000
Cash paid on settlement of derivatives	(214,035)	(14,465)
Other	10,991	11,024
Net cash used in investing activities	(1,591,486)	(1,107,971)
Cash flows from financing activities
Repayments of long-term debt	(1,465,439)	(889,206)
Proceeds from long-term debt	3,003,003	1,345,041
Common share issuance proceeds, net		1,558,396
Proceeds from employee related plans	5,267	3,141
Net share settlement of restricted share units	(20,212)	(16,672)
Early redemption premium	(172,012)	(611,164)
Deferred financing fees	(52,474)	(59,880)
Net cash provided by financing activities	1,298,133	1,329,656
Net decrease in cash and cash equivalents	(319,933)	(1,930,666)
Cash and cash equivalents at beginning of period	1,506,647	3,300,482
Cash and cash equivalents at end of period	$ 1,186,714	$ 1,369,816

Consolidated Statements of Chan

Consolidated Statements of Changes in Shareholders' Equity - USD ($) $ in Thousands	Cumulative Effect, Period of Adoption, Adjustment [Member] Additional Paid-in Capital	Cumulative Effect, Period of Adoption, Adjustment [Member] Accumulated Deficit	Cumulative Effect, Period of Adoption, Adjustment [Member]	Ordinary Shares	Additional Paid-in Capital	Accumulated Other Comprehensive Income (Loss)	Accumulated Deficit	Total
Balance at Dec. 31, 2020				$ 316	$ 4,889,355	$ (240,117)	$ (295,449)	$ 4,354,105
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation					88,974			88,974
Issuance of shares under employee related plans					3,141			3,141
Common share issuance proceeds, net				54	1,558,342			1,558,396
Net share settlement of restricted share units					(16,672)			(16,672)
Other	$ (131,240)				(20,355)			(20,355)
Other comprehensive loss, net						(24,874)		(24,874)
Net loss							(2,933,866)	(2,933,866)
Balance at Sep. 30, 2021			$ (125,610)	370	6,371,545	(264,991)	(3,223,685)	2,883,239
Balance at Jun. 30, 2021				370	6,329,585	(232,903)	(2,377,800)	3,719,252
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation					39,922			39,922
Issuance of shares under employee related plans					2,052			2,052
Net share settlement of restricted share units					(14)			(14)
Other comprehensive loss, net						(32,088)		(32,088)
Net loss							(845,885)	(845,885)
Balance at Sep. 30, 2021			$ (125,610)	370	6,371,545	(264,991)	(3,223,685)	2,883,239
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cumulative change in accounting policy		$ 5,630
Cumulative change in accounting policy								(4,796,406)
Balance at Dec. 31, 2021				417	7,513,725	(285,086)	(4,796,406)	2,432,650
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation					88,923			88,923
Issuance of shares under employee related plans				4	5,263			5,267
Net share settlement of restricted share units					(20,212)			(20,212)
Other comprehensive loss, net						(319,416)		(319,416)
Net loss							(1,787,429)	(1,787,429)
Balance at Sep. 30, 2022				421	7,587,699	(604,502)	(6,583,835)	399,783
Balance at Jun. 30, 2022				419	7,567,129	(377,292)	(6,288,441)	901,815
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation					26,083			26,083
Issuance of shares under employee related plans				2	2,708			2,710
Net share settlement of restricted share units					(8,221)			(8,221)
Other comprehensive loss, net						(227,210)		(227,210)
Net loss							(295,394)	(295,394)
Balance at Sep. 30, 2022				$ 421	$ 7,587,699	$ (604,502)	$ (6,583,835)	399,783
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cumulative change in accounting policy								$ (6,583,835)

Description of Business and Org

Description of Business and Organization	9 Months Ended
Description of Business and Organization	Sep. 30, 2022
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Description of Business and Organization	1. Description of Business and Organization We are a leading global cruise company which operates the Norwegian Cruise Line, Oceania Cruises and Regent Seven Seas Cruises brands. As of September 30, 2022, we had 29 ships with approximately 62,000 Berths and had orders for eight additional ships to be delivered through 2027. We have converted some double occupancy cabins to studio cabins and we expect to convert an additional 900 cabins in early 2023. Due to COVID-19, we temporarily suspended all global cruise voyages from March 2020 until July 2021, when we resumed cruise voyages on a limited basis. We refer you to Note 2 – “Summary of Significant Accounting Policies” for further information. Norwegian Prima was delivered in July 2022. We have five additional Prima Class Ships on order with currently scheduled delivery dates from 2023 through 2027. We have one Explorer Class Ship on order for delivery in 2023. We have two Allura Class Ships on order for delivery in 2023 and 2025. These additions to our fleet will increase our total Berths to approximately 82,000.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
Summary of Significant Accounting Policies	Sep. 30, 2022
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Liquidity and Management’s Plan Due to the impact of COVID-19, travel restrictions and limited access to ports around the world, in March 2020, the Company implemented a voluntary suspension of all cruise voyages across its three brands. In the third quarter of 2021, we began a phased relaunch of certain cruise voyages with our ships initially operating at reduced occupancy levels. In early May 2022, the Company completed the phased relaunch of its entire fleet with all ships now in operation with guests on board. Significant events affecting travel typically have an impact on demand for cruise vacations, with the full extent of the impact determined by the length of time the event influences travel decisions. The level of occupancy on our ships and the percentage of our fleet in service will depend on a number of factors including, but not limited to, the duration and extent of the COVID-19 pandemic, further resurgences of COVID-19 or the emergence of other public health crises, our ability to comply with governmental regulations and implement new health and safety protocols, port availability, travel restrictions, bans and advisories, and our ability to staff our ships. In addition, as a result of conditions associated with the COVID-19 pandemic and other global events, such as Russia’s ongoing invasion of Ukraine and actions taken by the United States and other governments in response to the invasion, the global economy, including the financial and credit markets, has recently experienced significant volatility and disruptions, including increases in inflation rates, fuel prices, and interest rates. These conditions have resulted, and may continue to result, in increased expenses and may also impact travel or consumer discretionary spending. We believe the ongoing effects of the foregoing factors and events on our operations and global bookings have had, and will continue to have, a significant impact on our financial results and liquidity. The estimation of our future cash flow projections includes numerous assumptions that are subject to various risks and uncertainties. Our principal assumptions for future cash flow projections include: ● Expected gradual return to historical occupancy levels; ● Expected increase in revenue per passenger cruise day through a combination of both passenger ticket and onboard revenue as compared to 2019; ● Forecasted cash collections in accordance with the terms of our credit card processing agreements (see Note 10 - “Commitments and Contingencies”); and ● Expected continued higher fuel prices and the impact of inflation. We cannot make assurances that our assumptions used to estimate our liquidity requirements will not change due to the dynamic nature of the current economic landscape. Accordingly, the full effect of the COVID-19 pandemic and other global events impacting macroeconomic conditions and travel and consumer discretionary spending, including Russia’s ongoing invasion of Ukraine, on our financial performance and financial condition cannot be quantified at this time. We have made reasonable estimates and judgments of the impact of these events within our financial statements and there may be material changes to those estimates in future periods. We have taken actions to improve our liquidity, including completing various capital market transactions and making capital expenditure and operating expense reductions, and we expect to continue to pursue further opportunities to improve our liquidity. Based on these actions and assumptions as discussed above, and considering our cash and cash equivalents of $1.2 billion as of September 30, 2022 and the net impact of our $1 billion undrawn commitment less related fees (see Note 7 – “Long-Term Debt”), we have concluded that we have sufficient liquidity to satisfy our obligations for at least the next twelve months. Subsequent to the liquidity assessment period (twelve months from the issuance of these financial statements), the Company has approximately $2.2 billion of debt that will mature in January 2024. The Company is currently taking steps to address this maturity. Basis of Presentation The accompanying consolidated financial statements are unaudited and, in our opinion, contain all normal recurring adjustments necessary for a fair statement of the results for the periods presented. Our operations are seasonal and results for interim periods are not necessarily indicative of the results for the entire fiscal year. Historically, demand for cruises has been strongest during the Northern Hemisphere’s summer months; however, our cruise voyages were completely suspended from March 2020 until July 2021 due to the COVID-19 pandemic and our resumption of cruise voyages was phased in gradually. The interim consolidated financial statements should be read in conjunction with the audited consolidated financial statements for the year ended December 31, 2021, which are included in our most recent Annual Report on Form 10-K filed with the SEC on March 1, 2022. Revisions to Previously Reported Quarterly Financial Statements During the fourth quarter of 2021, the Company identified an error in its consolidated balance sheet as of September 30, 2021 and consolidated statement of cash flows for the nine months ended September 30, 2021. Based on their nature, certain amounts shown as cash and cash equivalents should have been classified as short-term investments. We have determined that these errors were not material to the previously issued interim financial statements for the period ended September 30, 2021. As a result of the error, the amounts previously reported as cash and cash equivalents have been reclassified to cash flows used in investing activities in the consolidated statement of cash flows for the nine months ended September 30, 2021 as follows (in thousands): Nine months ended September 30, 2021 Previously As Reported Adjustments Reported Cash flows from investing activities Purchases of short-term investments $ — $ (770,000) $ (770,000) Proceeds from maturities of short-term investments — 205,000 205,000 Net cash used in investing activities (542,971) (565,000) (1,107,971) Net decrease in cash and cash equivalents (1,365,666) (565,000) (1,930,666) Cash and cash equivalents at end of period 1,934,816 (565,000) 1,369,816 Loss Per Share A reconciliation between basic and diluted loss per share was as follows (in thousands, except share and per share data): Three Months Ended Nine Months Ended September 30, September 30, 2022 2021 2022 2021 Net loss $ (295,394) $ (845,885) $ (1,787,429) $ (2,933,866) Basic weighted-average shares outstanding 420,798,538 370,016,479 419,224,710 356,591,143 Dilutive effect of share awards — — — — Diluted weighted-average shares outstanding 420,798,538 370,016,479 419,224,710 356,591,143 Basic loss per share $ (0.70) $ (2.29) $ (4.26) $ (8.23) Diluted loss per share $ (0.70) $ (2.29) $ (4.26) $ (8.23) For the three months ended September 30, 2022 and 2021, a total of 96.3 million and 98.9 million, respectively, and for the nine months ended September 30, 2022 and 2021, a total of 93.5 million and 106.3 million, respectively, shares have been excluded from diluted weighted-average shares outstanding because the effect of including them would have been anti-dilutive. Foreign Currency The majority of our transactions are settled in U.S. dollars. We remeasure assets and liabilities denominated in foreign currencies at exchange rates in effect at the balance sheet date. The resulting gains or losses are recognized in our consolidated statements of operations within other income (expense), net. We recognized gains of $34.7 million and $9.9 million for the three months ended September 30, 2022 and 2021, respectively, and gains of $79.4 million and $14.9 million for the nine months ended September 30, 2022 and 2021, respectively, related to remeasurement of assets and liabilities denominated in foreign currencies. Remeasurements of foreign currency related to operating activities are recognized within changes in operating assets and liabilities in the consolidated statement of cash flows. Depreciation and Amortization Expense The amortization of deferred financing fees is included in depreciation and amortization expense in the consolidated statements of cash flows; however, for purposes of the consolidated statements of operations they are included in interest expense, net. Accounts Receivable, Net Accounts receivable, net included $237.0 million and $1.1 billion due from credit card processors as of September 30, 2022 and December 31, 2021, respectively. Recently Issued Accounting Guidance In March 2020, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting

Revenue Recognition

Revenue Recognition	9 Months Ended
Revenue Recognition	Sep. 30, 2022
Revenue from Contract with Customer [Abstract]
Revenue Recognition	3. Revenue Recognition Disaggregation of Revenue Revenue and cash flows are affected by economic factors in various geographical regions. Revenues by destination were as follows (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2022 2022 North America $ 892,971 $ 2,053,909 Europe 718,435 1,243,149 Asia-Pacific 2,957 24,611 Other 1,147 2,962 Total revenue $ 1,615,510 $ 3,324,631 Amounts for the comparative three and nine months ended September 30, 2021 are excluded as the information is not meaningful. North America includes the U.S., the Caribbean, Canada and Mexico. Europe includes the Baltic region, Canary Islands and Mediterranean. Asia-Pacific includes Australia, New Zealand and Asia. Other includes all other international territories. Segment Reporting We have concluded that our business has a single reportable segment. Each brand, Norwegian, Oceania Cruises and Regent, constitutes a business for which discrete financial information is available and management regularly reviews the brand level operating results and, therefore, each brand is considered an operating segment. Our operating segments have similar economic and qualitative characteristics, including similar long-term margins and similar products and services; therefore, we aggregate all of the operating segments into one reportable segment. Although we sell cruises on an international basis, our passenger ticket revenue is primarily attributed to U.S.-sourced guests who make reservations in the U.S. Revenue attributable to U.S.-sourced guests has approximated 80-87% of total revenue over the preceding three fiscal years. No other individual country’s revenues exceed 10% in any given period. Contract Balances Receivables from customers are included within accounts receivable, net. As of September 30, 2022, our receivables from customers were $58.5 million. Our cancellation policies permit certain guests to cancel cruises booked within certain windows for specified time periods up to 15 days prior to departure or in the event of a positive COVID-19 test, and the guests will receive future cruise credits. Standard cancellation penalties apply for all sailings after September 30, 2022. Future cruise credits that have been issued as face value reimbursement for cancelled bookings due to COVID-19 are generally valid for any sailing through June 30, 2023, and we may further extend this offer. The future cruise credits are not contracts, and therefore, guests who elected this option are excluded from our contract liability balance; however, the credit for the original amount paid is included in advance ticket sales. Our contract liabilities are included within advance ticket sales. As of September 30, 2022 and December 31, 2021, our contract liabilities were $1.6 billion and $161.8 million, respectively. Of the amounts included within contract liabilities as of September 30, 2022, approximately 40% were refundable in accordance with our cancellation policies. Of the deposits included within advance ticket sales, the majority are refundable in accordance with our cancellation policies and it is uncertain to what extent guests may request refunds. Refunds payable to guests are included in accounts payable. For the nine months ended September 30, 2022, $123.1 million of revenue recognized was included in the contract liability balance at the beginning of the period. For cruise vacations that had been cancelled by us due to COVID-19, during the three months ended September 30, 2021, approximately $0.9 million, and during the nine months ended September 30, 2022 and 2021, approximately $0.3 million and $26.9 million, respectively, in costs to obtain these contracts, consisting of protected commissions, including those paid to employees, and credit card fees, were recognized in earnings.

Leases

Leases	9 Months Ended
Leases	Sep. 30, 2022
Leases [Abstract]
Leases	4. Leases In April 2020, the FASB issued interpretive guidance relating to the accounting for lease concessions provided as a result of COVID-19. In this guidance, entities can elect not to apply lease modification accounting with respect to such lease concessions and instead, treat the concession as if it was a part of the existing contract. In 2020, the Company elected to not evaluate leases under the lease modification accounting framework for concessions that result from effects of the COVID-19 pandemic. In relation to our rights to use port facilities, we have elected the approach consistent with resolving a contingency, which allows us to remeasure the lease liability and recognize the amount of change in the lease liability as an adjustment to the carrying amount of the associated right-of-use asset. As of September 30, 2022, certain of our port facilities were remeasured with an increase of $35.2 million to other long-term assets and other long-term liabilities. Operating lease balances were as follows (in thousands): Balance Sheet location September 30, 2022 December 31, 2021 Operating leases Right-of-use assets Other long-term assets $ 826,334 $ 794,187 Current operating lease liabilities Accrued expenses and other liabilities 40,708 34,407 Non-current operating lease liabilities Other long-term liabilities 696,917 670,688

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	9 Months Ended
Accumulated Other Comprehensive Income (Loss)	Sep. 30, 2022
Statement of Comprehensive Income [Abstract]
Accumulated Other Comprehensive Income (Loss)	5. Accumulated Other Comprehensive Income (Loss) Accumulated other comprehensive income (loss) for the nine months ended September 30, 2022 was as follows (in thousands): Nine Months Ended September 30, 2022 Change Accumulated Change Related to Other Related to Shipboard Comprehensive Cash Flow Retirement Income (Loss) Hedges Plan Accumulated other comprehensive income (loss) at beginning of period $ (285,086) $ (279,696) $ (5,390) Current period other comprehensive income (loss) before reclassifications (244,361) (246,742) 2,381 Amounts reclassified into earnings (75,055) (75,339) (1) 284 (2) Accumulated other comprehensive income (loss) at end of period $ (604,502) $ (601,777) (3) $ (2,725) Accumulated other comprehensive income (loss) for the nine months ended September 30, 2021 was as follows (in thousands): Nine Months Ended September 30, 2021 Change Accumulated Change Related to Other Related to Shipboard Comprehensive Cash Flow Retirement Income (Loss) Hedges Plan Accumulated other comprehensive income (loss) at beginning of period $ (240,117) $ (234,334) $ (5,783) Current period other comprehensive loss before reclassifications (73,497) (73,497) — Amounts reclassified into earnings 48,623 48,328 (1) 295 (2) Accumulated other comprehensive income (loss) at end of period $ (264,991) $ (259,503) $ (5,488) (1) We refer you to Note 8 – “Fair Value Measurements and Derivatives” for the affected line items in the consolidated statements of operations. (2) Amortization of prior-service cost and actuarial loss reclassified to other income (expense), net. (3) Includes $29.8 million of gain expected to be reclassified into earnings in the next 12 months.

Property and Equipment, net

Property and Equipment, net	9 Months Ended
Property and Equipment, net	Sep. 30, 2022
Property Plant And Equipment [Abstract]
Property and Equipment, net	6. Property and Equipment, net Property and equipment, net increased $1.0 billion for the nine months ended September 30, 2022 primarily due to the delivery of Norwegian Prima. We determine the weighted average useful lives of our ships based primarily on our estimates of the useful lives of the ships’ major component systems on the date of acquisition, such as cabins, main diesels, main electric, superstructure and hull, and their related proportional weighting to the ship as a whole. We have assessed the weighted-average useful life of the components of Norwegian Prima and assigned a useful life of 35 years with a 10% residual value to the Prima Class Ships. The useful life and residual value consider the historical useful lives of similar assets, manufacturer recommended lives, planned maintenance programs, anticipated changes in technological conditions and the related proportional weighting of the major components of the Prima Class Ships.

Long-Term Debt

Long-Term Debt	9 Months Ended
Long-Term Debt	Sep. 30, 2022
Long-term Debt, Unclassified [Abstract]
Long-Term Debt	7. Long-Term Debt In February 2022, NCLC conducted a private offering (the “Notes Offering”) of $1,000 million in aggregate principal amount of 5.875% senior secured notes due 2027 (the “2027 Secured Notes”) and $600 million in aggregate principal amount of 7.750% senior notes due 2029 (the “2029 Unsecured Notes”). The 2027 Secured Notes are jointly and severally guaranteed on a senior secured basis by Pride of Hawaii, LLC, Norwegian Epic, Ltd. and Sirena Acquisition. The 2027 Secured Notes and the related guarantees are secured by a first-priority interest in, among other things and subject to certain agreed security principles, three of our vessels, namely the Norwegian Jade vessel, the Norwegian Epic vessel and the Sirena vessel. NCLC may redeem the 2027 Secured Notes at its option, in whole or in part, at any time and from time to time prior to February 15, 2024, at a “make-whole” redemption price, plus accrued and unpaid interest and additional amounts, if any, to, but excluding, the redemption date. NCLC may redeem the 2027 Secured Notes at its option, in whole or in part, at any time and from time to time on or after February 15, 2024, at the redemption prices set forth in the indenture governing the 2027 Secured Notes, plus accrued and unpaid interest and additional amounts, if any, to, but excluding, the redemption date. At any time and from time to time prior to February 15, 2024, NCLC may choose to redeem up to 40% of the aggregate principal amount of the 2027 Secured Notes with the net proceeds of certain equity offerings, subject to certain restrictions, at a redemption price equal to 105.875% of the principal amount of the 2027 Secured Notes redeemed plus accrued and unpaid interest to, but excluding, the redemption date, so long as at least 60% of the aggregate principal amount of the 2027 Secured Notes issued remains outstanding following such redemption. NCLC may redeem the 2029 Unsecured Notes at its option, in whole or in part, at any time and from time to time prior to November 15, 2028, at a “make-whole” redemption price, plus accrued and unpaid interest and additional amounts, if any, to, but excluding, the redemption date. NCLC may redeem the 2029 Unsecured Notes at its option, in whole or in part, at any time and from time to time on or after November 15, 2028, at a redemption price equal to 100% of the principal amount of 2029 Unsecured Notes redeemed, plus accrued and unpaid interest and additional amounts, if any, to, but excluding, the redemption date. At any time and from time to time prior to February 15, 2025, NCLC may choose to redeem up to 40% of the aggregate principal amount of the 2029 Unsecured Notes with the net proceeds of certain equity offerings, subject to certain restrictions, at a redemption price equal to 107.750% of the principal amount of the 2029 Unsecured Notes redeemed plus accrued and unpaid interest to, but excluding, the redemption date, so long as at least 60% of the aggregate principal amount of the 2029 Unsecured Notes issued remains outstanding following such redemption. The indentures governing the 2027 Secured Notes and the 2029 Unsecured Notes include requirements that, among other things and subject to a number of qualifications and exceptions, restrict the ability of NCLC and its restricted subsidiaries, as applicable, to (i) incur or guarantee additional indebtedness; (ii) pay dividends or distributions on, or redeem or repurchase, equity interests and make other restricted payments; (iii) make investments; (iv) consummate certain asset sales; (v) engage in certain transactions with affiliates; (vi) grant or assume certain liens; and (vii) consolidate, merge or transfer all or substantially all of their assets. In February 2022, NCLC also conducted a private offering (the “Exchangeable Notes Offering”) of $473.2 million in aggregate principal amount of 2.5% exchangeable senior notes due February 15, 2027 (the “2027 2.5% Exchangeable Notes”). The 2027 2.5% Exchangeable Notes are guaranteed by NCLH on a senior basis. At their option, holders may exchange their 2027 2.5% Exchangeable Notes for, at the election of NCLC, cash, ordinary shares of NCLH or a combination of cash and ordinary shares of NCLH, at any time prior to the close of business on the business day immediately preceding August 15, 2026, subject to the satisfaction of certain conditions and during certain periods, and on or after August 15, 2026 until the close of business on the business day immediately preceding the maturity date, regardless of whether such conditions have been met. If NCLC elects to satisfy its exchange obligation solely in ordinary shares or in a combination of ordinary shares and cash, upon exchange, the 2027 2.5% Exchangeable Notes will convert into redeemable preference shares of NCLC, which will be immediately and automatically exchanged, for each $1,000 principal amount of exchanged 2027 2.5% Exchangeable Notes, into a number of NCLH’s ordinary shares based on the exchange rate. The exchange rate will initially be 28.9765 ordinary shares per $1,000 principal amount of 2027 2.5% Exchangeable Notes (equivalent to an initial exchange price of approximately $34.51 per ordinary share). The maximum exchange rate is 44.1891 and reflects potential adjustments to the initial exchange rate, which would only be made in the event of certain make-whole fundamental changes or tax redemption events. The exchange rate referred to above is also subject to adjustment for any stock split, stock dividend or similar transaction. The 2027 2.5% Exchangeable Notes pay interest at NCLC has used the net proceeds from the Notes Offering and the Exchangeable Notes Offering to redeem (the “Redemption”) all of the outstanding 2024 Senior Secured Notes and 2026 Senior Secured Notes and to make scheduled principal payments on debt maturing in 2022, including, in each case, to pay any accrued and unpaid interest thereon, as well as related premiums, fees and expenses. Simultaneously with the Redemption, and pursuant to certain provisions contained in the indentures governing the 2026 Senior Unsecured Notes and the 2028 Senior Unsecured Notes, each of the guarantors party to such indentures were released from their obligations thereunder. The resulting losses on extinguishments, which are recognized in interest expense, net, were $188.4 million for the nine months ended September 30, 2022. In July 2022, NCLC entered into a $1 billion amended and restated commitment letter with the purchasers named therein (collectively, the “Commitment Parties”), which supersedes a $1 billion commitment letter previously executed in November 2021. The amended commitment has been extended through March 31, 2023. Under the amended commitment, the Commitment Parties have agreed to purchase an aggregate of $1 billion of notes at NCLC’s option. NCLC has the option to make up to two draws, in which case NCLC will issue an aggregate of (i) $450 million principal amount of 8.0% senior secured notes due 2025 (the “Secured Notes”) and (ii) $550 million principal amount of 8.0% senior notes due three years after the issue date (the “Unsecured Notes” and, together with the Secured Notes, the “Notes”). The Secured Notes must be issued prior to the Unsecured Notes, and the principal amount of Secured Notes issuable will be increased to the extent that NCLC obtains an increase in obligations that may be secured by liens on collateral pursuant to the terms and conditions of NCLC’s debt agreements (with the principal amount of Unsecured Notes decreased commensurately). If drawn, the Secured Notes will be secured by first-priority interests in, among other things and subject to certain agreed security principles, shares of capital stock in certain guarantors, our material intellectual property and two islands that we use in the operations of our cruise business. The Secured Notes will also be guaranteed by our subsidiaries that own the property that secures the Secured Notes as well as certain additional subsidiaries whose assets do not secure the Secured Notes if drawn. If drawn, the Notes will be subject to a quarterly duration fee of We had export credit financing in place for 80% of the contract price for Norwegian Prima, for which we took delivery in July 2022. The associated $1.1 billion term loan bears interest at a fixed rate of 2.68% with a maturity date of July 31, 2034. Principal and interest payments are payable semiannually. Exchangeable Notes The following is a summary of NCLC’s exchangeable notes as of September 30, 2022 (in thousands): Unamortized Principal Deferred Net Carrying Fair Value Amount Financing Fees Amount Amount Leveling 2024 Exchangeable Notes $ 146,601 $ (2,357) $ 144,244 $ 157,958 Level 2 2025 Exchangeable Notes 450,000 (6,932) 443,068 419,864 Level 2 2027 1.125% Exchangeable Notes 1,150,000 (24,865) 1,125,135 735,161 Level 2 2027 2.5% Exchangeable Notes 473,175 (10,789) 462,386 320,974 Level 2 The following is a summary of NCLC’s exchangeable notes as of December 31, 2021 (in thousands): Unamortized Debt Discount, Principal including Deferred Net Carrying Fair Value Amount Financing Fees Amount Amount Leveling 2024 Exchangeable Notes $ 146,601 $ (3,408) $ 143,193 $ 249,358 Level 2 2025 Exchangeable Notes 450,000 (8,525) 441,475 642,591 Level 2 2027 1.125% Exchangeable Notes 1,150,000 (28,948) 1,121,052 1,088,510 Level 2 The following provides a summary of the interest expense of NCLC’s exchangeable notes (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2022 2021 2022 2021 Coupon interest $ 14,405 $ 18,984 $ 41,321 $ 62,109 Amortization of deferred financing fees 3,005 2,593 8,145 7,802 Total $ 17,410 $ 21,577 $ 49,466 $ 69,911 As of September 30, 2022, the effective interest rate is 7.04%, 5.97%, 1.64% and 3.06% for the 2024 Exchangeable Notes, 2025 Exchangeable Notes, 2027 1.125% Exchangeable Notes and 2027 2.5% Exchangeable Notes, respectively. Debt Repayments The following are scheduled principal repayments on our long-term debt including exchangeable notes which can be settled in shares and finance lease obligations as of September 30, 2022 (in thousands): Year Amount Remainder of 2022 $ 332,696 2023 1,001,343 2024 3,763,958 2025 1,148,007 2026 2,050,992 2027 3,101,980 Thereafter 2,753,755 Total $ 14,152,731 Debt Covenants During the year ended December 31, 2021, we amended certain financial and other debt covenants and added new free liquidity requirements. As of September 30, 2022, taking into account such amendments, we were in compliance with all of our debt covenants. If we do not continue to remain in compliance with our covenants, we would have to seek additional amendments to or waivers of our covenants. However, no assurances can be made that such amendments or waivers would be approved by our lenders. Generally, if an event of default under any debt agreement occurs, then pursuant to cross default and/or cross acceleration clauses, substantially all of our outstanding debt and derivative contract payables could become due, and all debt and derivative contracts could be terminated, which would have a material adverse impact on our operations and liquidity.

Fair Value Measurements and Der

Fair Value Measurements and Derivatives	9 Months Ended
Fair Value Measurements and Derivatives	Sep. 30, 2022
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Fair Value Measurements and Derivatives	8. Fair Value Measurements and Derivatives Fair value is defined as the price at which an orderly transaction to sell an asset or to transfer a liability would take place between market participants at the measurement date under current market conditions (that is, an exit price at the measurement date from the perspective of a market participant that holds the asset or owes the liability). Fair Value Hierarchy The following hierarchy for inputs used in measuring fair value should maximize the use of observable inputs and minimize the use of unobservable inputs by requiring that the most observable inputs be used when available: Level 1 Quoted prices in active markets for identical assets or liabilities that are accessible at the measurement dates. Level 2 Significant other observable inputs that are used by market participants in pricing the asset or liability based on market data obtained from independent sources. Level 3 Significant unobservable inputs we believe market participants would use in pricing the asset or liability based on the best information available. Derivatives We are exposed to market risk attributable to changes in interest rates, foreign currency exchange rates and fuel prices. We attempt to minimize these risks through a combination of our normal operating and financing activities and through the use of derivatives. We assess whether derivatives used in hedging transactions are “highly effective” in offsetting changes in the cash flow of our hedged forecasted transactions. We use qualitative assessments or regression analysis for hedge relationships and high effectiveness is achieved when a statistically valid relationship reflects a high degree of offset and correlation between the fair values of the derivative and the hedged forecasted transaction. Cash flows from the derivatives are classified in the same category as the cash flows from the underlying hedged transaction. If it is determined that the hedged forecasted transaction is no longer probable of occurring, then the amount recognized in accumulated other comprehensive income (loss) is released to earnings. There are no amounts excluded from the assessment of hedge effectiveness, except when the hedged item is a contractually specified component, and there are no credit-risk-related contingent features in our derivative agreements. We monitor concentrations of credit risk associated with financial and other institutions with which we conduct significant business. Credit risk, including but not limited to counterparty non-performance under derivatives, is not considered significant, as we primarily conduct business with large, well-established financial institutions with which we have established relationships, and which have credit risks acceptable to us, or the credit risk is spread out among many creditors. We do not anticipate non-performance by any of our significant counterparties. As of September 30, 2022, we had fuel swaps, which are used to mitigate the financial impact of volatility of fuel prices pertaining to approximately 452 thousand metric tons of our projected fuel purchases, maturing through December 31, 2023. As of September 30, 2022, we had fuel swaps pertaining to approximately 15 thousand metric tons of our projected fuel purchases which were not designated as cash flow hedges maturing through December 31, 2023. As of September 30, 2022, we had foreign currency forward contracts, matured foreign currency options and matured foreign currency collars which are used to mitigate the financial impact of volatility in foreign currency exchange rates related to our ship construction contracts denominated in euros. The notional amount of our hedged foreign currency forward contracts was €1.7 billion, or $1.7 billion based on the euro/U.S. dollar exchange rate as of September 30, 2022. The derivatives measured at fair value and the respective location in the consolidated balance sheets include the following (in thousands): Assets Liabilities September 30, December 31, September 30, December 31, Balance Sheet Location 2022 2021 2022 2021 Derivative Contracts Designated as Hedging Instruments Fuel contracts Prepaid expenses and other assets $ 62,387 $ 29,349 $ 2,713 $ — Other long-term assets 14,908 19,554 1,924 — Accrued expenses and other liabilities 2,363 — 3,028 — Other long-term liabilities 549 — 1,236 — Foreign currency contracts Prepaid expenses and other assets — 4,898 — — Accrued expenses and other liabilities — — 240,918 98,592 Other long-term liabilities — — 68,878 73,496 Interest rate contracts Accrued expenses and other liabilities — — — 469 Total derivatives designated as hedging instruments $ 80,207 $ 53,801 $ 318,697 $ 172,557 Derivative Contracts Not Designated as Hedging Instruments Fuel contracts Prepaid expenses and other assets $ 9 $ 10,836 $ 184 $ — Other long-term assets — 3,476 522 — Accrued expenses and other liabilities — — 138 — Other long-term liabilities — — 200 — Total derivatives not designated as hedging instruments $ 9 $ 14,312 $ 1,044 $ — Total derivatives $ 80,216 $ 68,113 $ 319,741 $ 172,557 The fair values of swap and forward contracts are determined based on inputs that are readily available in public markets or can be derived from information available in publicly quoted markets. The Company determines the value of options and collars utilizing an option pricing model based on inputs that are either readily available in public markets or can be derived from information available in publicly quoted markets. The option pricing model used by the Company is an industry standard model for valuing options and is used by the broker/dealer community. The inputs to this option pricing model are the option strike price, underlying price, risk-free rate of interest, time to expiration, and volatility. The fair value of option contracts considers both the intrinsic value and any remaining time value associated with those derivatives that have not yet settled. The Company also considers counterparty credit risk and its own credit risk in its determination of all estimated fair values. Our derivatives and financial instruments were categorized as Level 2 in the fair value hierarchy, and we had no derivatives or financial instruments categorized as Level 1 or Level 3. Our derivative contracts include rights of offset with our counterparties. We have elected to net certain assets and liabilities within counterparties when the rights of offset exist. We are not required to post cash collateral related to our derivative instruments. The following table discloses the gross and net amounts recognized within assets and liabilities (in thousands): Gross Gross Gross Amounts Total Net Amounts September 30, 2022 Amounts Offset Amounts Not Offset Net Amounts Assets $ 77,304 $ (5,343) $ 71,961 $ — $ 71,961 Liabilities 314,398 (2,912) 311,486 (309,796) 1,690 Gross Gross Gross Amounts Total Net Amounts December 31, 2021 Amounts Offset Amounts Not Offset Net Amounts Assets $ 68,113 $ — $ 68,113 $ (68,113) $ — Liabilities 172,557 — 172,557 (172,557) — The effects of cash flow hedge accounting on accumulated other comprehensive income (loss) were as follows (in thousands): Location of Gain (Loss) Reclassified from Accumulated Amount of Gain (Loss) Reclassified Amount of Gain (Loss) Other Comprehensive from Accumulated Other Recognized in Other Income (Loss) into Comprehensive Income Derivatives Comprehensive Loss Income (Expense) (Loss) into Income (Expense) Three Months Three Months Three Months Three Months Ended Ended Ended Ended September 30, 2022 September 30, 2021 September 30, 2022 September 30, 2021 Fuel contracts $ (48,593) $ 19,202 Fuel $ 33,886 $ (10,278) Fuel contracts — — Other income (expense), net (293) (65) Foreign currency contracts (146,950) (64,306) Depreciation and amortization (1,831) (1,267) Interest rate contracts — (30) Interest expense, net — (1,338) Total gain (loss) recognized in other comprehensive loss $ (195,543) $ (45,134) $ 31,762 $ (12,948) Location of Gain (Loss) Reclassified from Accumulated Amount of Gain (Loss) Reclassified Amount of Gain (Loss) Other Comprehensive from Accumulated Other Recognized in Other Income (Loss) into Comprehensive Income Derivatives Comprehensive Loss Income (Expense) (Loss) into Income (Expense) Nine Months Nine Months Nine Months Nine Months Ended Ended Ended Ended September 30, 2022 September 30, 2021 September 30, 2022 September 30, 2021 Fuel contracts $ 96,139 $ 68,708 Fuel $ 80,037 $ (27,101) Fuel contracts — — Other income (expense), net (293) (11,793) Foreign currency contracts (342,881) (142,466) Depreciation and amortization (4,365) (3,800) Interest rate contracts — 261 Interest expense, net (40) (5,634) Total gain (loss) recognized in other comprehensive loss $ (246,742) $ (73,497) $ 75,339 $ (48,328) The effects of cash flow hedge accounting on the consolidated statements of operations include the following (in thousands): Three Months Ended September 30, 2022 Three Months Ended September 30, 2021 Depreciation Depreciation and Interest Other Income and Interest Other Income Fuel Amortization Expense, net ( Expense), net Fuel Amortization Expense, net ( Expense), net Total amounts of income and expense line items presented in the consolidated statements of operations in which the effects of cash flow hedges are recorded $ 186,984 $ 186,551 $ 152,330 $ 31,461 $ 79,238 $ 173,289 $ 161,205 $ 4,720 Amount of gain (loss) reclassified from accumulated other comprehensive income (loss) into income (expense) Fuel contracts 33,886 — — — (10,278) — — — Foreign currency contracts — (1,831) — — — (1,267) — — Interest rate contracts — — — — — — (1,338) — Amount of gain (loss) reclassified from accumulated other comprehensive income (loss) into income (expense) as a result that a forecasted transaction is no longer probable of occurring Fuel contracts — — — (293) — — — (65) Nine Months Ended September 30, 2022 Nine Months Ended September 30, 2021 Depreciation Depreciation and Interest Other Income and Interest Other Income Fuel Amortization Expense, net ( Expense), net Fuel Amortization Expense, net ( Expense), net Total amounts of income and expense line items presented in the consolidated statements of operations in which the effects of cash flow hedges are recorded $ 503,682 $ 547,214 $ 624,392 $ 100,572 $ 175,931 $ 517,867 $ 1,122,905 $ 57,464 Amount of gain (loss) reclassified from accumulated other comprehensive income (loss) into income (expense) Fuel contracts 80,037 — — — (27,101) — — — Foreign currency contracts — (4,365) — — — (3,800) — — Interest rate contracts — — (40) — — — (5,634) — Amount of gain (loss) reclassified from accumulated other comprehensive income (loss) into income (expense) as a result that a forecasted transaction is no longer probable of occurring Fuel contracts — — — (293) — — — (11,793) The effects of derivatives not designated as hedging instruments on the consolidated statements of operations include the following (in thousands): Amount of Gain (Loss) Recognized in Income Three Months Ended Nine Months Ended September 30, September 30, Location of Gain (Loss) 2022 2021 2022 2021 Derivatives not designated as hedging instruments Fuel contracts Other income (expense), net $ (733) $ 7,398 $ 33,345 $ 57,505 Foreign currency contracts Other income (expense), net (1,905) (4) (13,761) (61) Long-Term Debt As of September 30, 2022 and December 31, 2021, the fair value of our long-term debt, including the current portion, was $12.0 billion and $12.5 billion, respectively, which was $2.2 billion and $0.1 billion lower, respectively, than the carrying values, excluding deferred financing costs. The difference between the fair value and carrying value of our long-term debt is due to our fixed and variable rate debt obligations carrying interest rates that are above or below market rates at the measurement dates. The fair value of our long-term revolving and term loan facilities was calculated based on estimated rates for the same or similar instruments with similar terms and remaining maturities. The fair value of our exchangeable notes considers observable risk-free rates; credit spreads of the same or similar instruments; and share prices, tenors, and historical and implied volatilities which are sourced from observable market data. The inputs are considered to be Level 2 in the fair value hierarchy. Market risk associated with our long-term variable rate debt is the potential increase in interest expense from an increase in interest rates or from an increase in share values. Other The carrying amounts reported in the consolidated balance sheets of all other financial assets and liabilities approximate fair value.

Employee Benefits and Compensat

Employee Benefits and Compensation Plans	9 Months Ended
Employee Benefits and Compensation Plans	Sep. 30, 2022
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Employee Benefits and Compensation Plans	9. Employee Benefits and Compensation Plans In January 2013, NCLH adopted the 2013 Performance Incentive Plan, which provided for the issuance of up to 15,035,106 of NCLH’s ordinary shares pursuant to awards granted under the plan. In May 2016 and May 2021, the plan was amended and restated (the “Restated 2013 Plan”) pursuant to approval from the Board of Directors and NCLH’s shareholders. Among other things, under the Restated 2013 Plan, the number of NCLH’s ordinary shares that may be delivered pursuant to all awards granted under the plan was increased to a maximum aggregate limit of 32,375,106 shares. In June 2022, NCLH’s shareholders approved a further amendment and restatement of the Restated 2013 Plan to increase the number of NCLH ordinary shares that may be delivered by 7,000,000 , resulting in an increase in the maximum aggregate limit to 39,375,106 shares. Restricted Share Unit Awards In March 2022, NCLH granted 4.8 million time-based restricted share unit awards to our employees, which primarily vest in substantially equal installments over three years. Additionally, in March 2022, NCLH granted 1.9 million performance-based restricted share units to certain members of our management team, which vest upon the achievement of certain pre-established performance targets established through 2024 and the satisfaction of an additional time-based vesting requirement that generally requires continued employment through March 1, 2025. The following is a summary of restricted share unit activity for the nine months ended September 30, 2022: Number of Weighted- Number of Weighted- Number of Weighted- Time-Based Average Grant Performance- Average Grant Market- Average Grant Awards Date Fair Value Based Awards Date Fair Value Based Awards Date Fair Value Non-vested as of January 1, 2022 7,771,623 $ 27.02 1,841,113 $ 35.68 50,000 $ 59.43 Granted 4,890,659 18.56 1,857,750 18.48 — — Vested (4,927,151) 25.18 (520,129) 28.39 — — Forfeited or expired (287,949) 24.07 (292,043) 35.59 — — Non-vested as of September 30, 2022 7,447,182 22.80 2,886,691 25.93 50,000 59.43 The compensation expense recognized for share-based compensation for the periods presented include the following (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2022 2021 2022 2021 Payroll and related expense $ 4,677 $ 6,525 $ 16,613 $ 16,225 Marketing, general and administrative expense 21,406 33,397 72,310 72,749 Total share-based compensation expense $ 26,083 $ 39,922 $ 88,923 $ 88,974

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Sep. 30, 2022
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	10. Commitments and Contingencies Ship Construction Contracts For the Norwegian brand, the first Prima Class Ship, Norwegian Prima, at approximately 143,500 Gross Tons and with 3,100 Berths, was delivered in July 2022. We have five additional Prima Class Ships on order, each ranging from approximately 143,500 to 156,300 Gross Tons with approximately 3,100 to 3,550 Berths, with currently scheduled delivery dates from 2023 through 2027. For the Regent brand, we have an order for one Explorer Class Ship to be delivered in 2023, which will be approximately 55,000 Gross Tons and 750 Berths. For the Oceania Cruises brand, we have orders for two Allura Class Ships to be delivered in 2023 and 2025. Each of the Allura Class Ships will be approximately 67,000 Gross Tons and 1,200 Berths. The impacts of COVID-19 on the shipyards where our ships are under construction (or will be constructed), Russia’s ongoing invasion of Ukraine and/or other macroeconomic events, have already resulted in some delays in expected ship deliveries. These impacts along with other potential modifications the Company may make to its newbuilds, including potential initiatives to improve environmental sustainability, are expected to result in additional delays in ship deliveries in the future, which may be prolonged. The combined contract prices of the eight ships on order for delivery as of September 30, 2022 was approximately €6.7 billion, or $6.6 billion based on the euro/U.S. dollar exchange rate as of September 30, 2022. We have obtained export credit financing which is expected to fund approximately 80% of the contract price of each ship, subject to certain conditions. We do not anticipate any contractual breaches or cancellations to occur. However, if any such events were to occur, it could result in, among other things, the forfeiture of prior deposits or payments made by us and potential claims and impairment losses which may materially impact our business, financial condition and results of operations. Litigation Investigations In March 2020, the Florida Attorney General announced an investigation related to the Company’s marketing during the COVID-19 pandemic. Following the announcement of the investigation by the Florida Attorney General, we received notifications from other attorneys general and governmental agencies that they are conducting similar investigations. The Company is cooperating with these ongoing investigations, the outcomes of which cannot be predicted at this time. Helms-Burton Act On August 27, 2019, two lawsuits were filed against Norwegian Cruise Line Holdings Ltd. in the United States District Court for the Southern District of Florida under Title III of the Cuban Liberty and Solidarity (Libertad) Act of 1996, also known as the Helms-Burton Act. The complaint filed by Havana Docks Corporation (the “Havana Docks Matter”) alleges it holds an interest in the Havana Cruise Port Terminal and the complaint filed by Javier Garcia-Bengochea (the “Garcia-Bengochea Matter”) alleges that he holds an interest in the Port of Santiago, Cuba, both of which were expropriated by the Cuban Government. The complaints further allege that the Company “trafficked” in those properties by embarking and disembarking passengers at these facilities, as well as profiting from the Cuban Government’s possession of the property. The plaintiffs seek all available statutory remedies, including the value of the expropriated property, plus interest, treble damages, attorneys’ fees and costs. On September 1, 2020, the court in the Garcia-Bengochea Matter entered an order staying all case deadlines and administratively closed the case pending the outcome of an appeal in a related case brought by the same plaintiff, in which the district court granted another cruise line defendant judgment on the pleadings. In the Havana Docks Matter, after various motions challenging the sufficiency of plaintiff’s complaint were resolved and voluminous discovery was completed, both sides filed motions for summary judgment. On March 21, 2022, the court issued an order granting plaintiff’s motion for summary judgment on the issue of liability. The court scheduled a trial on determination of damages only for November 2022. The plaintiff elected to seek what the court ruled to be its baseline statutory damage amount, which is the amount of the certified claim plus interest, trebled and with attorneys’ fees. Given this, there is no fact issue to be tried, and the matter was removed from the trial calendar. The parties are presently engaged in pre-judgment briefing which the court will need to resolve before it enters a final judgment and the Company takes its plenary appeal. We believe that the likelihood of loss is reasonably possible but not probable at this time, therefore, no liability has been recorded. Based on the calculation of the baseline statutory damages motions that were granted, the damage award reflected in final judgment, exclusive of plaintiff’s attorney’s fees and costs, may be approximately $110 million. The entry of final judgment is expected in late December 2022 or early 2023. For the Garcia Bengochea Matter, we are unable to reasonably estimate any potential loss or range of losses. The ability to make such estimates and judgments can be affected by various factors including, among other things: lack of legal precedent, stage of the proceedings, legal uncertainties inherent within the litigation process, availment of appellate remedies, and involvement of numerous parties. We continue to believe we have meritorious defenses to these matters and plan to appeal the Havana Docks Matter. However, if the plaintiffs prevail in the final outcome of these matters, there may be a material adverse impact on the Company’s financial condition, results of operations and/or cash flows. Other We are a party to a claim against a vendor which has resulted in a verdict of approximately $159 million in favor of the Company in October 2022. At this time, there can be no assurance that the Company will ultimately prevail in the final outcome of this claim as the verdict may be appealed and no receivable has been recognized. In the normal course of our business, various other claims and lawsuits have been filed or are pending against us. Most of these claims and lawsuits are covered by insurance and, accordingly, the maximum amount of our liability is typically limited to our deductible amount. Nonetheless, the ultimate outcome of these claims and lawsuits that are not covered by insurance cannot be determined at this time. We have evaluated our overall exposure with respect to all of our threatened and pending litigation and, to the extent required, we have accrued amounts for all estimable probable losses associated with our deemed exposure. We are currently unable to estimate any other potential losses beyond those accrued, as discovery is not complete nor is adequate information available to estimate such range of loss or potential recovery. However, based on our current knowledge, we do not believe that the aggregate amount or range of reasonably possible losses with respect to these matters will be material to our consolidated results of operations, financial condition or cash flows. We intend to vigorously defend our legal position on all claims and, to the extent necessary, seek recovery. Other Contingencies The Company also has agreements with its credit card processors that govern approximately $2.1 billion in advance ticket sales at September 30, 2022 that have been received by the Company relating to future voyages. These agreements allow the credit card processors to require under certain circumstances, including the existence of a material adverse change, excessive chargebacks and other triggering events, that the Company maintain a reserve which would be satisfied by posting collateral. Although the agreements vary, these requirements may generally be satisfied either through a percentage of customer payments withheld or providing cash funds directly to the card processor. Any cash reserve or collateral requested could be increased or decreased. As of September 30, 2022, we had cash reserves of approximately $742.5 million with credit card processors, of which approximately $237.0 million is recognized in accounts receivable, net and approximately $505.5 million in other long-term assets. As of September 30, 2022, a portion of the cash reserves is classified as long-term due to a change in terms to a static reserve, as currently required by a credit card processor, subject to periodic review. We may be required to pledge additional collateral and/or post additional cash reserves or take other actions that may further reduce our liquidity.

Other Income (Expense), Net

Other Income (Expense), Net	9 Months Ended
Other Income (Expense), Net	Sep. 30, 2022
Other Income And Expenses [Abstract]
Other Income (Expense), Net	11. Other Income (Expense), Net For the three and nine months ended September 30, 2022 other income (expense), net consisted of income of $31.5 million and $100.6 million, respectively, primarily due to gains on foreign currency remeasurements. For the three and nine months ended September 30, 2021, other income (expense), net consisted of income of $4.7 million and $57.5 million, respectively, primarily due to gains on fuel swaps not designated as hedges and foreign currency remeasurements.

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	9 Months Ended
Supplemental Cash Flow Information	Sep. 30, 2022
Supplemental Cash Flow Information [Abstract]
Supplemental Cash Flow Information	12. Supplemental Cash Flow Information For the nine months ended September 30, 2022 and 2021, we had non-cash investing activities consisting of changes in accruals related to property and equipment of $101.7 million and $64.6 million, respectively.

Related Party Disclosures

Related Party Disclosures	9 Months Ended
Related Party Disclosures	Sep. 30, 2022
Related Party Transactions [Abstract]
Related Party Disclosures	13. Related Party Disclosures NCLC, as issuer, NCLH, as guarantor, and U.S. Bank National Association, as trustee, were all parties to an indenture, dated May 28, 2020 (the “Indenture”) related to the Private Exchangeable Notes, which were held by an affiliate of L Catterton (the “Private Investor”). Based on the initial exchange rate for the Private Exchangeable Notes, the Private Investor beneficially owned approximately 10% of NCLH’s outstanding ordinary shares as of December 31, 2020. The initial exchange rate for the Private Exchangeable Notes could have been adjusted in the event of certain make-whole fundamental changes or tax redemption events (each, as described in the Indenture), but the maximum number of NCLH ordinary shares issuable upon an exchange in the event of such an adjustment would not have exceeded 46,577,947. The Private Exchangeable Notes also contained certain anti-dilution provisions that could have subjected the exchange rate to additional adjustment if certain events had occurred. NCLH, NCLC and the Private Investor also entered into an investor rights agreement, dated May 28, 2020 (the “Investor Rights Agreement”), which provided that, among other things, the Private Investor was entitled to nominate one person for appointment to the board of directors of NCLH until the first date on which the Private Investor no longer beneficially owned in the aggregate at least 50% of the number of NCLH’s ordinary shares issuable upon exchange of the Private Exchangeable Notes beneficially owned by the Private Investor in the aggregate as of May 28, 2020 (subject to certain adjustments). The Investor Rights Agreement also provided for customary registration rights for the Private Investor and its affiliates, including demand and piggyback registration rights, contained customary transfer restrictions and provided that the Private Investor and its affiliates were subject to a voting agreement with respect to certain matters during a specified period of time. In a privately negotiated transaction among NCLH, NCLC and the Private Investor, NCLC agreed to repurchase all of the outstanding Private Exchangeable Notes for an aggregate repurchase price of approximately $1.0 billion (the “Repurchase”). On March 9, 2021, in connection with the settlement of the Repurchase, the trustee cancelled the aggregate principal amount outstanding under the Private Exchangeable Notes and confirmed that NCLC had satisfied and discharged its obligations under the Indenture. In connection with the Repurchase, we and the Private Investor agreed to terminate the Investor Rights Agreement effective upon the consummation of the Repurchase. Notwithstanding the termination, we and the Private Investor agreed that certain provisions related to indemnification and expense reimbursement would survive in accordance with their terms.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
Summary of Significant Accounting Policies (Policies)	Sep. 30, 2022
Accounting Policies [Abstract]
Liquidity and Management's Plan, Basis of Presentation	Liquidity and Management’s Plan Due to the impact of COVID-19, travel restrictions and limited access to ports around the world, in March 2020, the Company implemented a voluntary suspension of all cruise voyages across its three brands. In the third quarter of 2021, we began a phased relaunch of certain cruise voyages with our ships initially operating at reduced occupancy levels. In early May 2022, the Company completed the phased relaunch of its entire fleet with all ships now in operation with guests on board. Significant events affecting travel typically have an impact on demand for cruise vacations, with the full extent of the impact determined by the length of time the event influences travel decisions. The level of occupancy on our ships and the percentage of our fleet in service will depend on a number of factors including, but not limited to, the duration and extent of the COVID-19 pandemic, further resurgences of COVID-19 or the emergence of other public health crises, our ability to comply with governmental regulations and implement new health and safety protocols, port availability, travel restrictions, bans and advisories, and our ability to staff our ships. In addition, as a result of conditions associated with the COVID-19 pandemic and other global events, such as Russia’s ongoing invasion of Ukraine and actions taken by the United States and other governments in response to the invasion, the global economy, including the financial and credit markets, has recently experienced significant volatility and disruptions, including increases in inflation rates, fuel prices, and interest rates. These conditions have resulted, and may continue to result, in increased expenses and may also impact travel or consumer discretionary spending. We believe the ongoing effects of the foregoing factors and events on our operations and global bookings have had, and will continue to have, a significant impact on our financial results and liquidity. The estimation of our future cash flow projections includes numerous assumptions that are subject to various risks and uncertainties. Our principal assumptions for future cash flow projections include: ● Expected gradual return to historical occupancy levels; ● Expected increase in revenue per passenger cruise day through a combination of both passenger ticket and onboard revenue as compared to 2019; ● Forecasted cash collections in accordance with the terms of our credit card processing agreements (see Note 10 - “Commitments and Contingencies”); and ● Expected continued higher fuel prices and the impact of inflation. We cannot make assurances that our assumptions used to estimate our liquidity requirements will not change due to the dynamic nature of the current economic landscape. Accordingly, the full effect of the COVID-19 pandemic and other global events impacting macroeconomic conditions and travel and consumer discretionary spending, including Russia’s ongoing invasion of Ukraine, on our financial performance and financial condition cannot be quantified at this time. We have made reasonable estimates and judgments of the impact of these events within our financial statements and there may be material changes to those estimates in future periods. We have taken actions to improve our liquidity, including completing various capital market transactions and making capital expenditure and operating expense reductions, and we expect to continue to pursue further opportunities to improve our liquidity. Based on these actions and assumptions as discussed above, and considering our cash and cash equivalents of $1.2 billion as of September 30, 2022 and the net impact of our $1 billion undrawn commitment less related fees (see Note 7 – “Long-Term Debt”), we have concluded that we have sufficient liquidity to satisfy our obligations for at least the next twelve months. Subsequent to the liquidity assessment period (twelve months from the issuance of these financial statements), the Company has approximately $2.2 billion of debt that will mature in January 2024. The Company is currently taking steps to address this maturity. Basis of Presentation The accompanying consolidated financial statements are unaudited and, in our opinion, contain all normal recurring adjustments necessary for a fair statement of the results for the periods presented. Our operations are seasonal and results for interim periods are not necessarily indicative of the results for the entire fiscal year. Historically, demand for cruises has been strongest during the Northern Hemisphere’s summer months; however, our cruise voyages were completely suspended from March 2020 until July 2021 due to the COVID-19 pandemic and our resumption of cruise voyages was phased in gradually. The interim consolidated financial statements should be read in conjunction with the audited consolidated financial statements for the year ended December 31, 2021, which are included in our most recent Annual Report on Form 10-K filed with the SEC on March 1, 2022.
Revisions to Previously Reported Quarterly Financial Statements	Revisions to Previously Reported Quarterly Financial Statements During the fourth quarter of 2021, the Company identified an error in its consolidated balance sheet as of September 30, 2021 and consolidated statement of cash flows for the nine months ended September 30, 2021. Based on their nature, certain amounts shown as cash and cash equivalents should have been classified as short-term investments. We have determined that these errors were not material to the previously issued interim financial statements for the period ended September 30, 2021. As a result of the error, the amounts previously reported as cash and cash equivalents have been reclassified to cash flows used in investing activities in the consolidated statement of cash flows for the nine months ended September 30, 2021 as follows (in thousands): Nine months ended September 30, 2021 Previously As Reported Adjustments Reported Cash flows from investing activities Purchases of short-term investments $ — $ (770,000) $ (770,000) Proceeds from maturities of short-term investments — 205,000 205,000 Net cash used in investing activities (542,971) (565,000) (1,107,971) Net decrease in cash and cash equivalents (1,365,666) (565,000) (1,930,666) Cash and cash equivalents at end of period 1,934,816 (565,000) 1,369,816
Loss Per Share	Loss Per Share A reconciliation between basic and diluted loss per share was as follows (in thousands, except share and per share data): Three Months Ended Nine Months Ended September 30, September 30, 2022 2021 2022 2021 Net loss $ (295,394) $ (845,885) $ (1,787,429) $ (2,933,866) Basic weighted-average shares outstanding 420,798,538 370,016,479 419,224,710 356,591,143 Dilutive effect of share awards — — — — Diluted weighted-average shares outstanding 420,798,538 370,016,479 419,224,710 356,591,143 Basic loss per share $ (0.70) $ (2.29) $ (4.26) $ (8.23) Diluted loss per share $ (0.70) $ (2.29) $ (4.26) $ (8.23) For the three months ended September 30, 2022 and 2021, a total of 96.3 million and 98.9 million, respectively, and for the nine months ended September 30, 2022 and 2021, a total of 93.5 million and 106.3 million, respectively, shares have been excluded from diluted weighted-average shares outstanding because the effect of including them would have been anti-dilutive.
Foreign Currency	Foreign Currency The majority of our transactions are settled in U.S. dollars. We remeasure assets and liabilities denominated in foreign currencies at exchange rates in effect at the balance sheet date. The resulting gains or losses are recognized in our consolidated statements of operations within other income (expense), net. We recognized gains of $34.7 million and $9.9 million for the three months ended September 30, 2022 and 2021, respectively, and gains of $79.4 million and $14.9 million for the nine months ended September 30, 2022 and 2021, respectively, related to remeasurement of assets and liabilities denominated in foreign currencies. Remeasurements of foreign currency related to operating activities are recognized within changes in operating assets and liabilities in the consolidated statement of cash flows.
Depreciation and Amortization Expense	Depreciation and Amortization Expense The amortization of deferred financing fees is included in depreciation and amortization expense in the consolidated statements of cash flows; however, for purposes of the consolidated statements of operations they are included in interest expense, net.
Accounts Receivable, Net	Accounts Receivable, Net Accounts receivable, net included $237.0 million and $1.1 billion due from credit card processors as of September 30, 2022 and December 31, 2021, respectively.
Recently Issued Accounting Guidance	Recently Issued Accounting Guidance In March 2020, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	9 Months Ended
Summary of Significant Accounting Policies (Tables)	Sep. 30, 2022
Accounting Policies [Abstract]
Summary of impact of changes to previously reported consolidated statement of cash flows	As a result of the error, the amounts previously reported as cash and cash equivalents have been reclassified to cash flows used in investing activities in the consolidated statement of cash flows for the nine months ended September 30, 2021 as follows (in thousands): Nine months ended September 30, 2021 Previously As Reported Adjustments Reported Cash flows from investing activities Purchases of short-term investments $ — $ (770,000) $ (770,000) Proceeds from maturities of short-term investments — 205,000 205,000 Net cash used in investing activities (542,971) (565,000) (1,107,971) Net decrease in cash and cash equivalents (1,365,666) (565,000) (1,930,666) Cash and cash equivalents at end of period 1,934,816 (565,000) 1,369,816
Schedule of reconciliation between basic and diluted EPS	A reconciliation between basic and diluted loss per share was as follows (in thousands, except share and per share data): Three Months Ended Nine Months Ended September 30, September 30, 2022 2021 2022 2021 Net loss $ (295,394) $ (845,885) $ (1,787,429) $ (2,933,866) Basic weighted-average shares outstanding 420,798,538 370,016,479 419,224,710 356,591,143 Dilutive effect of share awards — — — — Diluted weighted-average shares outstanding 420,798,538 370,016,479 419,224,710 356,591,143 Basic loss per share $ (0.70) $ (2.29) $ (4.26) $ (8.23) Diluted loss per share $ (0.70) $ (2.29) $ (4.26) $ (8.23)

Revenue Recognition (Tables)

Revenue Recognition (Tables)	9 Months Ended
Revenue Recognition (Tables)	Sep. 30, 2022
Revenue from Contract with Customer [Abstract]
Schedule of revenues by destination	Revenue and cash flows are affected by economic factors in various geographical regions. Revenues by destination were as follows (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2022 2022 North America $ 892,971 $ 2,053,909 Europe 718,435 1,243,149 Asia-Pacific 2,957 24,611 Other 1,147 2,962 Total revenue $ 1,615,510 $ 3,324,631

Leases (Tables)

Leases (Tables)	9 Months Ended
Leases (Tables)	Sep. 30, 2022
Leases [Abstract]
Schedule of lease balances	Operating lease balances were as follows (in thousands): Balance Sheet location September 30, 2022 December 31, 2021 Operating leases Right-of-use assets Other long-term assets $ 826,334 $ 794,187 Current operating lease liabilities Accrued expenses and other liabilities 40,708 34,407 Non-current operating lease liabilities Other long-term liabilities 696,917 670,688

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	9 Months Ended
Accumulated Other Comprehensive Income (Loss) (Tables)	Sep. 30, 2022
Statement of Comprehensive Income [Abstract]
Schedule of accumulated other comprehensive income (loss)	Nine Months Ended September 30, 2022 Change Accumulated Change Related to Other Related to Shipboard Comprehensive Cash Flow Retirement Income (Loss) Hedges Plan Accumulated other comprehensive income (loss) at beginning of period $ (285,086) $ (279,696) $ (5,390) Current period other comprehensive income (loss) before reclassifications (244,361) (246,742) 2,381 Amounts reclassified into earnings (75,055) (75,339) (1) 284 (2) Accumulated other comprehensive income (loss) at end of period $ (604,502) $ (601,777) (3) $ (2,725) Nine Months Ended September 30, 2021 Change Accumulated Change Related to Other Related to Shipboard Comprehensive Cash Flow Retirement Income (Loss) Hedges Plan Accumulated other comprehensive income (loss) at beginning of period $ (240,117) $ (234,334) $ (5,783) Current period other comprehensive loss before reclassifications (73,497) (73,497) — Amounts reclassified into earnings 48,623 48,328 (1) 295 (2) Accumulated other comprehensive income (loss) at end of period $ (264,991) $ (259,503) $ (5,488)

Long-Term Debt (Tables)

Long-Term Debt (Tables)	9 Months Ended
Long-Term Debt (Tables)	Sep. 30, 2022
Debt Disclosure [Abstract]
Schedule of convertible debt instruments	The following is a summary of NCLC’s exchangeable notes as of September 30, 2022 (in thousands): Unamortized Principal Deferred Net Carrying Fair Value Amount Financing Fees Amount Amount Leveling 2024 Exchangeable Notes $ 146,601 $ (2,357) $ 144,244 $ 157,958 Level 2 2025 Exchangeable Notes 450,000 (6,932) 443,068 419,864 Level 2 2027 1.125% Exchangeable Notes 1,150,000 (24,865) 1,125,135 735,161 Level 2 2027 2.5% Exchangeable Notes 473,175 (10,789) 462,386 320,974 Level 2 The following is a summary of NCLC’s exchangeable notes as of December 31, 2021 (in thousands): Unamortized Debt Discount, Principal including Deferred Net Carrying Fair Value Amount Financing Fees Amount Amount Leveling 2024 Exchangeable Notes $ 146,601 $ (3,408) $ 143,193 $ 249,358 Level 2 2025 Exchangeable Notes 450,000 (8,525) 441,475 642,591 Level 2 2027 1.125% Exchangeable Notes 1,150,000 (28,948) 1,121,052 1,088,510 Level 2
Schedule of interest expense of convertible debt instruments	The following provides a summary of the interest expense of NCLC’s exchangeable notes (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2022 2021 2022 2021 Coupon interest $ 14,405 $ 18,984 $ 41,321 $ 62,109 Amortization of deferred financing fees 3,005 2,593 8,145 7,802 Total $ 17,410 $ 21,577 $ 49,466 $ 69,911
Schedule of principal repayments on long-term debt including exchangeable notes and finance lease obligations	The following are scheduled principal repayments on our long-term debt including exchangeable notes which can be settled in shares and finance lease obligations as of September 30, 2022 (in thousands): Year Amount Remainder of 2022 $ 332,696 2023 1,001,343 2024 3,763,958 2025 1,148,007 2026 2,050,992 2027 3,101,980 Thereafter 2,753,755 Total $ 14,152,731

Fair Value Measurements and D_2

Fair Value Measurements and Derivatives (Tables)	9 Months Ended
Fair Value Measurements and Derivatives (Tables)	Sep. 30, 2022
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Schedule of derivatives measured at fair value and disclosed by balance sheet location	The derivatives measured at fair value and the respective location in the consolidated balance sheets include the following (in thousands): Assets Liabilities September 30, December 31, September 30, December 31, Balance Sheet Location 2022 2021 2022 2021 Derivative Contracts Designated as Hedging Instruments Fuel contracts Prepaid expenses and other assets $ 62,387 $ 29,349 $ 2,713 $ — Other long-term assets 14,908 19,554 1,924 — Accrued expenses and other liabilities 2,363 — 3,028 — Other long-term liabilities 549 — 1,236 — Foreign currency contracts Prepaid expenses and other assets — 4,898 — — Accrued expenses and other liabilities — — 240,918 98,592 Other long-term liabilities — — 68,878 73,496 Interest rate contracts Accrued expenses and other liabilities — — — 469 Total derivatives designated as hedging instruments $ 80,207 $ 53,801 $ 318,697 $ 172,557 Derivative Contracts Not Designated as Hedging Instruments Fuel contracts Prepaid expenses and other assets $ 9 $ 10,836 $ 184 $ — Other long-term assets — 3,476 522 — Accrued expenses and other liabilities — — 138 — Other long-term liabilities — — 200 — Total derivatives not designated as hedging instruments $ 9 $ 14,312 $ 1,044 $ — Total derivatives $ 80,216 $ 68,113 $ 319,741 $ 172,557
Schedule of gross and net amounts recognized within assets and liabilities	The following table discloses the gross and net amounts recognized within assets and liabilities (in thousands): Gross Gross Gross Amounts Total Net Amounts September 30, 2022 Amounts Offset Amounts Not Offset Net Amounts Assets $ 77,304 $ (5,343) $ 71,961 $ — $ 71,961 Liabilities 314,398 (2,912) 311,486 (309,796) 1,690 Gross Gross Gross Amounts Total Net Amounts December 31, 2021 Amounts Offset Amounts Not Offset Net Amounts Assets $ 68,113 $ — $ 68,113 $ (68,113) $ — Liabilities 172,557 — 172,557 (172,557) —
Schedule of cash flow hedge accounting on accumulated other comprehensive income (loss)	The effects of cash flow hedge accounting on accumulated other comprehensive income (loss) were as follows (in thousands): Location of Gain (Loss) Reclassified from Accumulated Amount of Gain (Loss) Reclassified Amount of Gain (Loss) Other Comprehensive from Accumulated Other Recognized in Other Income (Loss) into Comprehensive Income Derivatives Comprehensive Loss Income (Expense) (Loss) into Income (Expense) Three Months Three Months Three Months Three Months Ended Ended Ended Ended September 30, 2022 September 30, 2021 September 30, 2022 September 30, 2021 Fuel contracts $ (48,593) $ 19,202 Fuel $ 33,886 $ (10,278) Fuel contracts — — Other income (expense), net (293) (65) Foreign currency contracts (146,950) (64,306) Depreciation and amortization (1,831) (1,267) Interest rate contracts — (30) Interest expense, net — (1,338) Total gain (loss) recognized in other comprehensive loss $ (195,543) $ (45,134) $ 31,762 $ (12,948) Location of Gain (Loss) Reclassified from Accumulated Amount of Gain (Loss) Reclassified Amount of Gain (Loss) Other Comprehensive from Accumulated Other Recognized in Other Income (Loss) into Comprehensive Income Derivatives Comprehensive Loss Income (Expense) (Loss) into Income (Expense) Nine Months Nine Months Nine Months Nine Months Ended Ended Ended Ended September 30, 2022 September 30, 2021 September 30, 2022 September 30, 2021 Fuel contracts $ 96,139 $ 68,708 Fuel $ 80,037 $ (27,101) Fuel contracts — — Other income (expense), net (293) (11,793) Foreign currency contracts (342,881) (142,466) Depreciation and amortization (4,365) (3,800) Interest rate contracts — 261 Interest expense, net (40) (5,634) Total gain (loss) recognized in other comprehensive loss $ (246,742) $ (73,497) $ 75,339 $ (48,328)
Schedule of cash flow hedge accounting on the consolidated financial statements of operations	The effects of cash flow hedge accounting on the consolidated statements of operations include the following (in thousands): Three Months Ended September 30, 2022 Three Months Ended September 30, 2021 Depreciation Depreciation and Interest Other Income and Interest Other Income Fuel Amortization Expense, net ( Expense), net Fuel Amortization Expense, net ( Expense), net Total amounts of income and expense line items presented in the consolidated statements of operations in which the effects of cash flow hedges are recorded $ 186,984 $ 186,551 $ 152,330 $ 31,461 $ 79,238 $ 173,289 $ 161,205 $ 4,720 Amount of gain (loss) reclassified from accumulated other comprehensive income (loss) into income (expense) Fuel contracts 33,886 — — — (10,278) — — — Foreign currency contracts — (1,831) — — — (1,267) — — Interest rate contracts — — — — — — (1,338) — Amount of gain (loss) reclassified from accumulated other comprehensive income (loss) into income (expense) as a result that a forecasted transaction is no longer probable of occurring Fuel contracts — — — (293) — — — (65) Nine Months Ended September 30, 2022 Nine Months Ended September 30, 2021 Depreciation Depreciation and Interest Other Income and Interest Other Income Fuel Amortization Expense, net ( Expense), net Fuel Amortization Expense, net ( Expense), net Total amounts of income and expense line items presented in the consolidated statements of operations in which the effects of cash flow hedges are recorded $ 503,682 $ 547,214 $ 624,392 $ 100,572 $ 175,931 $ 517,867 $ 1,122,905 $ 57,464 Amount of gain (loss) reclassified from accumulated other comprehensive income (loss) into income (expense) Fuel contracts 80,037 — — — (27,101) — — — Foreign currency contracts — (4,365) — — — (3,800) — — Interest rate contracts — — (40) — — — (5,634) — Amount of gain (loss) reclassified from accumulated other comprehensive income (loss) into income (expense) as a result that a forecasted transaction is no longer probable of occurring Fuel contracts — — — (293) — — — (11,793)
Schedule of effects of derivatives not designated as hedging instruments	The effects of derivatives not designated as hedging instruments on the consolidated statements of operations include the following (in thousands): Amount of Gain (Loss) Recognized in Income Three Months Ended Nine Months Ended September 30, September 30, Location of Gain (Loss) 2022 2021 2022 2021 Derivatives not designated as hedging instruments Fuel contracts Other income (expense), net $ (733) $ 7,398 $ 33,345 $ 57,505 Foreign currency contracts Other income (expense), net (1,905) (4) (13,761) (61)

Employee Benefits and Compens_2

Employee Benefits and Compensation Plans (Tables)	9 Months Ended
Employee Benefits and Compensation Plans (Tables)	Sep. 30, 2022
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of summary of restricted share unit activity	Number of Weighted- Number of Weighted- Number of Weighted- Time-Based Average Grant Performance- Average Grant Market- Average Grant Awards Date Fair Value Based Awards Date Fair Value Based Awards Date Fair Value Non-vested as of January 1, 2022 7,771,623 $ 27.02 1,841,113 $ 35.68 50,000 $ 59.43 Granted 4,890,659 18.56 1,857,750 18.48 — — Vested (4,927,151) 25.18 (520,129) 28.39 — — Forfeited or expired (287,949) 24.07 (292,043) 35.59 — — Non-vested as of September 30, 2022 7,447,182 22.80 2,886,691 25.93 50,000 59.43
Schedule of compensation expense recognized for share-based compensation	The compensation expense recognized for share-based compensation for the periods presented include the following (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2022 2021 2022 2021 Payroll and related expense $ 4,677 $ 6,525 $ 16,613 $ 16,225 Marketing, general and administrative expense 21,406 33,397 72,310 72,749 Total share-based compensation expense $ 26,083 $ 39,922 $ 88,923 $ 88,974

Description of Business and O_2

Description of Business and Organization (Details)	Sep. 30, 2022 item
Description Of Business And Organization [Line Items]
Number of cruise ships	29
Capacity of ship, berths	62,000
Number of additional cabins to convert	900
Ships launching period through 2027
Description Of Business And Organization [Line Items]
Number of additional ships	8
Increased number of berths	82,000
Ships launching period in 2023 and 2025
Description Of Business And Organization [Line Items]
Number of additional ships	2
Ships launching period in 2023 through 2027
Description Of Business And Organization [Line Items]
Number of additional ships	5
Ship to be delivered in 2023
Description Of Business And Organization [Line Items]
Number of additional ships	1

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Liquidity and Management's Plan (Details) $ in Thousands	1 Months Ended	9 Months Ended
	Mar. 31, 2020 item	Sep. 30, 2022 USD ($) item	Dec. 31, 2021 USD ($)	Sep. 30, 2021 USD ($)
Debt Instrument [Line Items]
Number of reporting units \| item	3
Number of cruise ships \| item		29
Cash and cash equivalents		$ 1,186,714	$ 1,506,647	$ 1,369,816
Substantial Doubt about Going Concern, within One Year [true false]		false
Unfunded Loan Commitment [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 1,000,000
Senior Secured Credit Facility
Debt Instrument [Line Items]
Outstanding principal amount of notes		$ 2,200,000

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Revisions to Previously Reported Quarterly Financial Statements (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 1,186,714	$ 1,369,816	$ 1,506,647
Short-term investments			$ 240,000
Cash flows from investing activities
Purchases of short-term investments		(770,000)
Proceeds from maturities of short-term investments	240,000	205,000
Net cash used in investing activities	(1,591,486)	(1,107,971)
Net increase (decrease) in cash and cash equivalents	$ (319,933)	(1,930,666)
Previously Reported
Current assets:
Cash and cash equivalents		1,934,816
Cash flows from investing activities
Net cash used in investing activities		(542,971)
Net increase (decrease) in cash and cash equivalents		(1,365,666)
Adjustments \| Short term investments classification
Current assets:
Cash and cash equivalents		(565,000)
Cash flows from investing activities
Purchases of short-term investments		(770,000)
Proceeds from maturities of short-term investments		205,000
Net cash used in investing activities		(565,000)
Net increase (decrease) in cash and cash equivalents		$ (565,000)

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Reconciliation between Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Earnings Per Share [Abstract]
Net loss	$ (295,394)	$ (845,885)	$ (1,787,429)	$ (2,933,866)
Basic weighted-average shares outstanding	420,798,538	370,016,479	419,224,710	356,591,143
Diluted weighted-average shares outstanding	420,798,538	370,016,479	419,224,710	356,591,143
Basic loss per share (in dollars per share)	$ (0.70)	$ (2.29)	$ (4.26)	$ (8.23)
Diluted loss per share (in dollars per share)	$ (0.70)	$ (2.29)	$ (4.26)	$ (8.23)

Summary of Significant Accoun_7

Summary of Significant Accounting Policies - Other (Details) $ in Thousands, shares in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022 USD ($) item shares	Sep. 30, 2021 USD ($) shares	Sep. 30, 2022 USD ($) item shares	Sep. 30, 2021 USD ($) shares	Dec. 31, 2021 USD ($)
Schedule Of Significant Accounting Policies [Line Items]
Antidilutive securities excluded from computation of earnings per share \| shares	96.3	98.9	93.5	106.3
Reduction in estimated residual values, percentage	10%		10%
Goodwill	$ 98,134		$ 98,134		$ 98,134
Indefinite-lived intangible assets, trade names	$ 500,525		$ 500,525		500,525
Number of cruise ships \| item	29		29
Ship, carrying value	$ 14,511,649		$ 14,511,649		13,528,806
Foreign currency transaction gain (loss)	34,700	$ 9,900	79,400	$ 14,900
Accounts receivable, net	393,118		393,118		1,167,473
Credit Card Processors
Schedule Of Significant Accounting Policies [Line Items]
Accounts receivable, net	$ 237,000		$ 237,000		$ 1,100,000

Revenue Recognition - Disaggreg

Revenue Recognition - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Revenues, Initial Application Period Cumulative Effect Transition [Line Items]
Total revenue	$ 1,615,510	$ 153,081	$ 3,324,631	$ 160,549
North America
Revenues, Initial Application Period Cumulative Effect Transition [Line Items]
Total revenue	892,971		2,053,909
Europe
Revenues, Initial Application Period Cumulative Effect Transition [Line Items]
Total revenue	718,435		1,243,149
Asia-Pacific
Revenues, Initial Application Period Cumulative Effect Transition [Line Items]
Total revenue	2,957		24,611
Other Country
Revenues, Initial Application Period Cumulative Effect Transition [Line Items]
Total revenue	$ 1,147		$ 2,962

Revenue Recognition (Details)

Revenue Recognition (Details) $ in Millions	3 Months Ended	9 Months Ended
Revenue Recognition (Details) $ in Millions	Sep. 30, 2021 USD ($)	Sep. 30, 2022 USD ($) segment	Sep. 30, 2021 USD ($)	Dec. 31, 2021 USD ($)
Revenues, Initial Application Period Cumulative Effect Transition [Line Items]
Number of reportable segments \| segment		1
Receivables from customers included in accounts receivable, net		$ 58.5
Advanced ticket sales		$ 1,600		$ 161.8
Percentage of refundable amounts included within contract liabilities		40%
Number of days prior to departure the cruises booked can be cancelled		15 days
Revenue recognized included in contract liability		$ 123.1
Costs to obtain contract	$ 0.9	$ 0.3	$ 26.9
Sales Revenue, Net \| Geographic Concentration Risk
Revenues, Initial Application Period Cumulative Effect Transition [Line Items]
Concentration risk, benchmark		No other individual country’s revenues exceed 10% in any given period.
Sales Revenue, Net \| Geographic Concentration Risk \| Minimum
Revenues, Initial Application Period Cumulative Effect Transition [Line Items]
Percentage of revenue attributable to U.S.- sourced passengers		80%
Sales Revenue, Net \| Geographic Concentration Risk \| Maximum
Revenues, Initial Application Period Cumulative Effect Transition [Line Items]
Percentage of revenue attributable to U.S.- sourced passengers		87%

Leases (Details)

Leases (Details) - USD ($) $ in Thousands	9 Months Ended
Leases (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Leases [Abstract]
Right-of-use assets	$ 826,334	$ 794,187
Operating lease, right-of-use asset - Extensible List	Other long-term assets	Other long-term assets
Right-of-use assets obtained in exchange for lease obligations - Operating leases	$ 35,200

Leases - Lease Balances (Detail

Leases - Lease Balances (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Operating leases
Right-of-use assets	$ 826,334	$ 794,187
Operating lease, right-of-use asset - Extensible List	Other long-term assets	Other long-term assets
Current operating lease liabilities	$ 40,708	$ 34,407
Operating lease liability, current - Extensible list	Accrued Liabilities And Other Liabilities Current	Accrued Liabilities And Other Liabilities Current
Non-current operating lease liabilities	$ 696,917	$ 670,688
Operating lease liability, non current - Extensible list	Other long-term liabilities	Other long-term liabilities

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Accumulated other comprehensive income (loss) at beginning of period	$ (285,086)	$ (240,117)
Current period other comprehensive income (loss) before reclassifications	(244,361)	(73,497)
Amounts reclassified into earnings	(75,055)	48,623
Accumulated other comprehensive income (loss) at end of period	(604,502)	(264,991)
Change Related to Cash Flow Hedges
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Accumulated other comprehensive income (loss) at beginning of period	(279,696)	(234,334)
Current period other comprehensive income (loss) before reclassifications	(246,742)	(73,497)
Amounts reclassified into earnings	(75,339)	48,328
Accumulated other comprehensive income (loss) at end of period	(601,777)	(259,503)
Change Related to Shipboard Retirement Plan
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Accumulated other comprehensive income (loss) at beginning of period	(5,390)	(5,783)
Current period other comprehensive income (loss) before reclassifications	2,381
Amounts reclassified into earnings	284	295
Accumulated other comprehensive income (loss) at end of period	$ (2,725)	$ (5,488)

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Income (Loss) - Additional Information (Details) $ in Millions	9 Months Ended
	Sep. 30, 2022 USD ($)
Change Related to Cash Flow Hedges
Accumulated Other Comprehensive Income (Loss) [Line Items]
Amount of gain expected to be reclassified into earnings next 12 months	$ 29.8

Property and Equipment, net (De

Property and Equipment, net (Details) $ in Billions	9 Months Ended
Property and Equipment, net (Details) $ in Billions	Sep. 30, 2022 USD ($)
Property Plant And Equipment [Abstract]
Net increase in PPE due to ships under construction and improvements	$ 1
Property and equipment, useful life	35 years
Percentage of residual value	10%

Long-Term Debt - Summary of Lon

Long-Term Debt - Summary of Long-Term Debt - Additional Information (Details)	1 Months Ended		9 Months Ended
	Jul. 31, 2022 USD ($) item	Feb. 28, 2022 USD ($) $ / shares	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Dec. 31, 2021 USD ($)	Nov. 30, 2021 USD ($)
Debt Instrument [Line Items]
Loss on extinguishment of debt			$ (188,433,000)	$ (601,539,000)
Long-term debt			$ 12,893,407,000		$ 11,569,700,000
Exchangeable Senior Notes Due 2024
Debt Instrument [Line Items]
Effective interest rate			7.04%
Exchangeable Senior Notes Due 2025
Debt Instrument [Line Items]
Effective interest rate			5.97%
Senior Secured Notes Due 2027
Debt Instrument [Line Items]
Principal amount		$ 1,000,000,000
Interest rate		5.875%
Percentage of principal amount of debt redeemed		40%
Percentage of thresholds, after percentage		60%
Senior Secured Notes Due 2027 \| Debt Redemption Prior To February 15, 2024
Debt Instrument [Line Items]
Redemption price as a percentage of face amount		105.875%
Senior Unsecured Notes Due 2029
Debt Instrument [Line Items]
Principal amount		$ 600,000,000
Interest rate		7.75%
Percentage of principal amount of debt redeemed		40%
Percentage of thresholds, after percentage		60%
Senior Unsecured Notes Due 2029 \| Debt Redemption Prior to February 15 2025
Debt Instrument [Line Items]
Redemption price as a percentage of face amount		107.75%
Senior Unsecured Notes Due 2029 \| Debt Redemption On Or After November 15, 2028
Debt Instrument [Line Items]
Redemption price as a percentage of face amount		100%
1.125% Exchangeable Senior Notes Due 2027
Debt Instrument [Line Items]
Effective interest rate			1.64%
2.5% Exchangeable Senior Notes Due 2027
Debt Instrument [Line Items]
Principal amount		$ 473,200,000
Interest rate		2.50%
Debt instrument amount		$ 1,000
Ordinary share exchange rate		28.9765
Initial exchange price \| $ / shares		$ 34.51
Effective interest rate			3.06%
2.5% Exchangeable Senior Notes Due 2027 \| Maximum
Debt Instrument [Line Items]
Ordinary share exchange rate		44.1891
Commitment letter
Debt Instrument [Line Items]
Principal amount	$ 1,000,000,000					$ 1,000,000,000
Commitment letter \| Maximum
Debt Instrument [Line Items]
Number of draws \| item	2
Senior Secured Notes Due 2025
Debt Instrument [Line Items]
Principal amount	$ 450,000,000
Interest rate	8%
Duration fee (as a percent)	1.50%
Draw fee (as a percent)	3%
Leonardo Newbuild One Loan
Debt Instrument [Line Items]
Principal amount	$ 1,100,000,000
Interest rate	2.68%
Senior Unsecured Notes Due 2025 or 2026
Debt Instrument [Line Items]
Principal amount	$ 550,000,000
Debt, period due after issue date	3 years
Interest rate	8%
Duration fee (as a percent)	3%
Draw fee (as a percent)	5%

Long-Term Debt - Convertible De

Long-Term Debt - Convertible Debt Instruments (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Fair Value	$ 12,000,000	$ 12,500,000
Exchangeable Senior Notes Due 2024
Debt Instrument [Line Items]
Principal amount	146,601	146,601
Unamortized debt discount, including deferred financing fees	(2,357)	(3,408)
Net carrying amount	144,244	143,193
Exchangeable Senior Notes Due 2025
Debt Instrument [Line Items]
Principal amount	450,000	450,000
Unamortized debt discount, including deferred financing fees	(6,932)	(8,525)
Net carrying amount	443,068	441,475
1.125% Exchangeable Senior Notes Due 2027
Debt Instrument [Line Items]
Principal amount	1,150,000	1,150,000
Unamortized debt discount, including deferred financing fees	(24,865)	(28,948)
Net carrying amount	1,125,135	1,121,052
2.5% Exchangeable Senior Notes Due 2027
Debt Instrument [Line Items]
Principal amount	473,175
Unamortized debt discount, including deferred financing fees	(10,789)
Net carrying amount	462,386
Level 2 \| Exchangeable Senior Notes Due 2024
Debt Instrument [Line Items]
Fair Value	157,958	249,358
Level 2 \| Exchangeable Senior Notes Due 2025
Debt Instrument [Line Items]
Fair Value	419,864	642,591
Level 2 \| 1.125% Exchangeable Senior Notes Due 2027
Debt Instrument [Line Items]
Fair Value	735,161	$ 1,088,510
Level 2 \| 2.5% Exchangeable Senior Notes Due 2027
Debt Instrument [Line Items]
Fair Value	$ 320,974

Long-Term Debt - Interest Expen

Long-Term Debt - Interest Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Debt Disclosure [Abstract]
Coupon interest	$ 14,405	$ 18,984	$ 41,321	$ 62,109
Amortization of deferred financing costs	3,005	2,593	8,145	7,802
Total	$ 17,410	$ 21,577	$ 49,466	$ 69,911

Long-Term Debt - Summary of Sch

Long-Term Debt - Summary of Scheduled Principal Repayments on Long-Term Debt Including Exchangeable Notes and Finance Lease Obligations (Details) $ in Thousands	Sep. 30, 2022 USD ($)
Long-term Debt, Fiscal Year Maturity [Abstract]
Remainder of 2022	$ 332,696
2023	1,001,343
2024	3,763,958
2025	1,148,007
2026	2,050,992
2027	3,101,980
Thereafter	2,753,755
Total	$ 14,152,731

Fair Value Measurements and D_3

Fair Value Measurements and Derivatives - Derivatives Measured at Fair Value and Disclosed by Balance Sheet Location (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Derivatives, Fair Value [Line Items]
Derivative assets, fair value	$ 77,304	$ 68,113
Derivative liabilities, fair value	314,398	172,557
Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Derivative assets, fair value	80,207	53,801
Derivative liabilities, fair value	318,697	172,557
Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Derivative assets, fair value	9	14,312
Derivative liabilities, fair value	1,044
Fuel contracts \| Designated as Hedging Instrument \| Prepaid expenses and other assets
Derivatives, Fair Value [Line Items]
Derivative assets, fair value	62,387	29,349
Derivative liabilities, fair value	2,713
Fuel contracts \| Designated as Hedging Instrument \| Other long-term assets
Derivatives, Fair Value [Line Items]
Derivative assets, fair value	14,908	19,554
Derivative liabilities, fair value	1,924
Fuel contracts \| Designated as Hedging Instrument \| Accrued expenses and other liabilities
Derivatives, Fair Value [Line Items]
Derivative assets, fair value	2,363
Derivative liabilities, fair value	3,028
Fuel contracts \| Designated as Hedging Instrument \| Other long-term liabilities
Derivatives, Fair Value [Line Items]
Derivative assets, fair value	549
Derivative liabilities, fair value	1,236
Fuel contracts \| Not Designated as Hedging Instrument \| Prepaid expenses and other assets
Derivatives, Fair Value [Line Items]
Derivative assets, fair value	9	10,836
Derivative liabilities, fair value	184
Fuel contracts \| Not Designated as Hedging Instrument \| Other long-term assets
Derivatives, Fair Value [Line Items]
Derivative assets, fair value		3,476
Derivative liabilities, fair value	522
Fuel contracts \| Not Designated as Hedging Instrument \| Accrued expenses and other liabilities
Derivatives, Fair Value [Line Items]
Derivative liabilities, fair value	138
Fuel contracts \| Not Designated as Hedging Instrument \| Other long-term liabilities
Derivatives, Fair Value [Line Items]
Derivative liabilities, fair value	200
Foreign currency contracts \| Designated as Hedging Instrument \| Prepaid expenses and other assets
Derivatives, Fair Value [Line Items]
Derivative assets, fair value		4,898
Foreign currency contracts \| Designated as Hedging Instrument \| Accrued expenses and other liabilities
Derivatives, Fair Value [Line Items]
Derivative liabilities, fair value	240,918	98,592
Foreign currency contracts \| Designated as Hedging Instrument \| Other long-term liabilities
Derivatives, Fair Value [Line Items]
Derivative liabilities, fair value	68,878	73,496
Interest rate contracts \| Designated as Hedging Instrument \| Accrued expenses and other liabilities
Derivatives, Fair Value [Line Items]
Derivative liabilities, fair value		469
Total derivatives
Derivatives, Fair Value [Line Items]
Derivative assets, fair value	80,216	68,113
Derivative liabilities, fair value	$ 319,741	$ 172,557

Fair Value Measurements and D_4

Fair Value Measurements and Derivatives - Amounts Recognized within Assets and Liabilities Based on Right of Offset (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Fair Value Disclosures [Abstract]
Gross Amounts, Assets	$ 77,304	$ 68,113
Gross Amounts Offset, Assets	(5,343)
Total Net Amounts, Assets	71,961	68,113
Gross Amounts Not Offset, Assets		(68,113)
Net Amounts, Assets	71,961
Gross Amounts, Liabilities	314,398	172,557
Gross Amounts Offset, Liabilities	(2,912)
Total Net Amounts, Liabilities	311,486	172,557
Gross Amounts Not Offset, Liabilities	(309,796)	$ (172,557)
Net Amounts, Liabilities	$ 1,690

Fair Value Measurements and D_5

Fair Value Measurements and Derivatives - Effects of Derivatives Designated as Cash Flow Hedges (Details) - Cash Flow Hedging - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in Other Comprehensive Income	$ (195,543)	$ (45,134)	$ (246,742)	$ (73,497)
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income	31,762	(12,948)	75,339	(48,328)
Fuel
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income	33,886	(10,278)	80,037	(27,101)
Other income (expense), net
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income	(293)	(65)	(293)	(11,793)
Depreciation and amortization
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income	(1,831)	(1,267)	(4,365)	(3,800)
Interest expense, net
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income		(1,338)	(40)	(5,634)
Fuel contracts
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in Other Comprehensive Income	(48,593)	19,202	96,139	68,708
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income	33,886	(10,278)
Fuel contracts \| Fuel
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income			80,037	(27,101)
Foreign currency contracts
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in Other Comprehensive Income	(146,950)	(64,306)	(342,881)	(142,466)
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income	$ (1,831)	(1,267)
Foreign currency contracts \| Depreciation and amortization
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income			(4,365)	(3,800)
Interest rate contracts
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in Other Comprehensive Income		(30)		261
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income		$ (1,338)
Interest rate contracts \| Interest expense, net
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income			$ (40)	$ (5,634)

Fair Value Measurements and D_6

Fair Value Measurements and Derivatives - Effects of Cash Flow Hedge Accounting on Consolidated Statements of Operations (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Derivative Instruments Gain Loss [Line Items]
Fuel	$ 1,238,898	$ 439,756	$ 3,047,627	$ 890,338
Depreciation and amortization	186,551	173,289	547,214	517,867
Interest expense, net	152,330	161,205	624,392	1,122,905
Other income (expense), net	31,461	4,720	100,572	57,464
Fuel
Derivative Instruments Gain Loss [Line Items]
Fuel	186,984	79,238	503,682	175,931
Cash Flow Hedging
Derivative Instruments Gain Loss [Line Items]
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income	31,762	(12,948)	75,339	(48,328)
Cash Flow Hedging \| Fuel
Derivative Instruments Gain Loss [Line Items]
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income	33,886	(10,278)	80,037	(27,101)
Cash Flow Hedging \| Depreciation and amortization
Derivative Instruments Gain Loss [Line Items]
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income	(1,831)	(1,267)	(4,365)	(3,800)
Cash Flow Hedging \| Interest expense, net
Derivative Instruments Gain Loss [Line Items]
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income		(1,338)	(40)	(5,634)
Cash Flow Hedging \| Other income (expense), net
Derivative Instruments Gain Loss [Line Items]
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income	(293)	(65)	(293)	(11,793)
Cash Flow Hedging \| Fuel contracts
Derivative Instruments Gain Loss [Line Items]
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income	33,886	(10,278)
Cash Flow Hedging \| Fuel contracts \| Fuel
Derivative Instruments Gain Loss [Line Items]
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income			80,037	(27,101)
Cash Flow Hedging \| Fuel contracts \| Other income (expense), net
Derivative Instruments Gain Loss [Line Items]
Amount of gain (loss) reclassified from accumulated other comprehensive income (loss) into income as a result that a forecasted transaction is no longer probable of occurring	(293)	(65)	(293)	(11,793)
Cash Flow Hedging \| Foreign currency contracts
Derivative Instruments Gain Loss [Line Items]
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income	$ (1,831)	(1,267)
Cash Flow Hedging \| Foreign currency contracts \| Depreciation and amortization
Derivative Instruments Gain Loss [Line Items]
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income			(4,365)	(3,800)
Cash Flow Hedging \| Interest rate contracts
Derivative Instruments Gain Loss [Line Items]
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income		$ (1,338)
Cash Flow Hedging \| Interest rate contracts \| Interest expense, net
Derivative Instruments Gain Loss [Line Items]
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income			$ (40)	$ (5,634)

Fair Value Measurements and D_7

Fair Value Measurements and Derivatives - Effects of Derivatives Not Designated as Hedging Instruments on Consolidated Statements of Operations (Details) - Not Designated as Hedging Instrument - Other income (expense), net - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Fuel contracts
Derivative Instruments Gain Loss [Line Items]
Amount of Gain (Loss) Recognized in Income	$ (733)	$ 7,398	$ 33,345	$ 57,505
Foreign currency contracts
Derivative Instruments Gain Loss [Line Items]
Amount of Gain (Loss) Recognized in Income	$ (1,905)	$ (4)	$ (13,761)	$ (61)

Fair Value Measurements and D_8

Fair Value Measurements and Derivatives (Details) T in Thousands, $ in Thousands, € in Billions	9 Months Ended
	Sep. 30, 2022 USD ($) T	Sep. 30, 2022 EUR (€) T	Dec. 31, 2021 USD ($)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of long-term debt	$ 12,000,000		$ 12,500,000
Fair value of long-term debt in excess of carrying value	$ 2,200,000		$ 100,000
Fuel contracts
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative maturing date	Dec. 31, 2023
Fuel contracts \| Not Designated as Hedging Instrument
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative maturing date	Dec. 31, 2023
Projected fuel purchases \| T	15	15
Fuel contracts \| Designated as Hedging Instrument
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Projected fuel purchases	452
Foreign currency contracts
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notional amount of derivatives	$ 1,700,000	€ 1.7

Employee Benefits and Compens_3

Employee Benefits and Compensation Plans - (Details) - shares	1 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	May 31, 2021	Jan. 31, 2013
"Time-Based Units" ("TBUs") \| Awarded on June 2021 \| Employee
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share awards granted		4,800,000
Share-based award, vesting period		3 years
Performance-Based RSU Awards \| Awarded on June 2021 \| Members of management team
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share awards granted		1,900,000
2013 Performance Incentive Plan \| Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Ordinary shares authorized				15,035,106
Restated 2013 Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Ordinary shares authorized	39,375,106		32,375,106
Number of additional shares authorized	7,000,000

Employee Benefits and Compens_4

Employee Benefits and Compensation Plans - Summary of Restricted Share Unit Activity (Details) - Restricted Share Units	9 Months Ended
	Sep. 30, 2022 $ / shares shares
"Time-Based Units" ("TBUs")
Number of Restricted Share Awards
Non-vested as of January 1, 2022 \| shares	7,771,623
Granted \| shares	4,890,659
Vested \| shares	(4,927,151)
Forfeited or expired \| shares	(287,949)
Non-vested as of September 30, 2022 \| shares	7,447,182
Weighted- Average Grant-Date Fair Value
Non-vested as of January 1, 2022 \| $ / shares	$ 27.02
Granted \| $ / shares	18.56
Vested \| $ / shares	25.18
Forfeited or expired \| $ / shares	24.07
Non-vested as of September 30, 2022 \| $ / shares	$ 22.80
Performance-Based Options
Number of Restricted Share Awards
Non-vested as of January 1, 2022 \| shares	1,841,113
Granted \| shares	1,857,750
Vested \| shares	(520,129)
Forfeited or expired \| shares	(292,043)
Non-vested as of September 30, 2022 \| shares	2,886,691
Weighted- Average Grant-Date Fair Value
Non-vested as of January 1, 2022 \| $ / shares	$ 35.68
Granted \| $ / shares	18.48
Vested \| $ / shares	28.39
Forfeited or expired \| $ / shares	35.59
Non-vested as of September 30, 2022 \| $ / shares	$ 25.93
Market-Based RSU Awards
Number of Restricted Share Awards
Non-vested as of January 1, 2022 \| shares	50,000
Granted \| shares	0
Vested \| shares	0
Forfeited or expired \| shares	0
Non-vested as of September 30, 2022 \| shares	50,000
Weighted- Average Grant-Date Fair Value
Non-vested as of January 1, 2022 \| $ / shares	$ 59.43
Granted \| $ / shares	0
Vested \| $ / shares	0
Forfeited or expired \| $ / shares	0
Non-vested as of September 30, 2022 \| $ / shares	$ 59.43

Employee Benefits and Compens_5

Employee Benefits and Compensation Plans - Summary of Compensation Expense Recognized for Share-Based Compensation (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total share-based compensation expense	$ 26,083	$ 39,922	$ 88,923	$ 88,974
Payroll and related
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total share-based compensation expense	4,677	6,525	16,613	16,225
Marketing, general and administrative expense
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total share-based compensation expense	$ 21,406	$ 33,397	$ 72,310	$ 72,749

Commitments and Contingencies (

Commitments and Contingencies (Details) € in Billions	Aug. 27, 2019 item	Dec. 31, 2022 USD ($)	Oct. 31, 2022 USD ($)	Sep. 30, 2022 USD ($) item	Sep. 30, 2022 EUR (€) item	Jul. 31, 2022
Commitments and Contingencies Disclosure [Line Items]
Number of cruise ships				29	29
Capacity of ship, berths				62,000	62,000
Export credit facility financing as percentage of contract price						80%
Number of lawsuits filed	2
Advance ticket sales with credit card processor \| $				$ 2,100,000,000
Subsequent Event
Commitments and Contingencies Disclosure [Line Items]
Estimate of possible loss \| $		$ 110,000,000
Estimate of claim, unrecorded amount \| $			$ 159,000,000
Credit Card Processors
Commitments and Contingencies Disclosure [Line Items]
Reserves maintained, credit card processor \| $				742,500,000
Credit Card Processors \| Accounts Receivable [Member]
Commitments and Contingencies Disclosure [Line Items]
Reserves maintained, credit card processor \| $				237,000,000
Credit Card Processors \| Other Long-Term Assets [Member]
Commitments and Contingencies Disclosure [Line Items]
Reserves maintained, credit card processor \| $				$ 505,500,000
Ships launching period in 2023 through 2027
Commitments and Contingencies Disclosure [Line Items]
Number of additional ships				5	5
Ship to be delivered in 2023
Commitments and Contingencies Disclosure [Line Items]
Number of additional ships				1	1
Ship Construction Contracts
Commitments and Contingencies Disclosure [Line Items]
Number of additional ships				8	8
Aggregate contract price of new ships				$ 6,600,000,000	€ 6.7
Export credit facility financing as percentage of contract price				80%	80%
Ship Construction Contracts \| Ships launching period in 2023 through 2027
Commitments and Contingencies Disclosure [Line Items]
Number of additional ships				5	5
Ship Construction Contracts \| Ships launching period in 2023 through 2027 \| Minimum
Commitments and Contingencies Disclosure [Line Items]
Capacity of ship, tons \| $				143,500
Capacity of ship, berths				3,100	3,100
Ship Construction Contracts \| Ships launching period in 2023 through 2027 \| Maximum
Commitments and Contingencies Disclosure [Line Items]
Capacity of ship, tons \| $				156,300
Capacity of ship, berths				3,550	3,550
Ship Construction Contracts \| Ships launching period in 2023 through 2025
Commitments and Contingencies Disclosure [Line Items]
Number of additional ships				2	2
Capacity of ship, tons \| $				67,000
Capacity of ship, berths				1,200	1,200
Ship Construction Contracts \| Ship to be delivered in 2022
Commitments and Contingencies Disclosure [Line Items]
Capacity of ship, tons \| $				143,500
Capacity of ship, berths				3,100	3,100
Ship Construction Contracts \| Ship to be delivered in 2023
Commitments and Contingencies Disclosure [Line Items]
Number of additional ships				1	1
Capacity of ship, tons \| $				55,000
Capacity of ship, berths				750	750

Other Income (Expense), Net (De

Other Income (Expense), Net (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Other Income And Expenses [Abstract]
Other income (expense), net	$ 31,461	$ 4,720	$ 100,572	$ 57,464

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Supplemental Cash Flow Information [Abstract]
Non-cash investing activity in connection with property and equipment, seller financing	$ 101.7	$ 64.6

Related Party Disclosures (Deta

Related Party Disclosures (Details) - USD ($) $ in Billions		1 Months Ended
Related Party Disclosures (Details) - USD ($) $ in Billions	May 28, 2020	Mar. 31, 2021	Dec. 31, 2020
Private Exchangeable Notes
Related Party Transaction [Line Items]
Repayment and extinguishment of debt, amount		$ 1
NCLC \| Private Exchangeable Notes \| Maximum
Related Party Transaction [Line Items]
Shares issuable upon exchange	46,577,947
L Catterton [Member]
Related Party Transaction [Line Items]
Beneficial ownership percentage			10%
L Catterton [Member] \| Minimum
Related Party Transaction [Line Items]
Investor ownership threshold	50%