NCL (NCLC) 10-K 27 Feb 20 2019 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2019	Feb. 14, 2020	Jun. 30, 2019
Document And Entity Information
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2019
Document Transition Report	false
Entity File Number	333-128780
Entity Registrant Name	NCL CORPORATION LTD.
Entity Incorporation, State or Country Code	D0
Entity Tax Identification Number	20-0470163
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
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	Yes
Entity Current Reporting Status	No
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock Shares Outstanding		31,164,004
Entity Central Index Key	0001318742
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY
Amendment Flag	false
Entity Public Float			$ 0

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Revenue
Total revenue	$ 6,462,376	$ 6,055,126	$ 5,396,175
Cruise operating expense
Payroll and related	924,157	881,606	803,632
Fuel	409,602	392,685	361,032
Total cruise operating expense	3,663,261	3,377,076	3,063,644
Other operating expense
Marketing, general and administrative	972,214	893,067	771,122
Depreciation and amortization	646,188	561,060	509,957
Total other operating expense	1,618,402	1,454,127	1,281,079
Operating income	1,180,713	1,223,923	1,051,452
Non-operating income (expense)
Interest expense, net	(272,867)	(270,404)	(267,782)
Other income (expense), net	6,155	20,653	(10,401)
Total non-operating income (expense)	(266,712)	(249,751)	(278,183)
Net income before income taxes	914,001	974,172	773,269
Income tax benefit (expense)	27,205	(7,982)	(14,474)
Net income	941,206	966,190	758,795
Commissions transportation and other
Cruise operating expense
Total cruise operating expense	1,120,886	998,948	894,406
Passenger ticket
Revenue
Total revenue	4,517,393	4,259,815	3,750,030
Onboard and other
Revenue
Total revenue	1,944,983	1,795,311	1,646,145
Cruise operating expense
Total cruise operating expense	394,673	348,656	319,293
Food
Cruise operating expense
Total cruise operating expense	222,602	216,031	198,357
Other
Cruise operating expense
Total cruise operating expense	$ 591,341	$ 539,150	$ 486,924

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Statement Of Income And Comprehensive Income [Abstract]
Net income	$ 941,206	$ 966,190	$ 758,795
Other comprehensive income (loss):
Shipboard Retirement Plan	(1,930)	2,697	(40)
Cash flow hedges:
Net unrealized gain (loss)	(123,015)	(161,214)	304,684
Amount realized and reclassified into earnings	(8,898)	(30,096)	36,795
Total other comprehensive income (loss)	(133,843)	(188,613)	341,439
Total comprehensive income	$ 807,363	$ 777,577	$ 1,100,234

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 231,239	$ 162,419
Accounts receivable, net	75,109	55,249
Inventories	95,427	90,202
Prepaid expenses and other assets	306,616	241,088
Total current assets	708,391	548,958
Property and equipment, net	13,135,337	12,119,253
Goodwill	1,388,931	1,388,931
Tradenames	817,525	817,525
Other long-term assets	612,864	329,948
Total assets	16,663,048	15,204,615
Current liabilities:
Current portion of long-term debt	746,358	681,218
Accounts payable	100,777	159,564
Accrued expenses and other liabilities	782,665	713,612
Due to NCLH	35,044	50,394
Advance ticket sales	1,954,980	1,593,219
Total current liabilities	3,619,824	3,198,007
Long-term debt	6,055,335	5,810,873
Other long-term liabilities	526,089	277,914
Total liabilities	10,201,248	9,286,794
Commitments and contingencies (Note 13)
Shareholders' equity:
Ordinary shares, $0.0012 par value; 40,000,000 shares authorized; 31,164,004 shares issued and outstanding at December 31, 2019 and December 31, 2018	37	37
Additional paid-in capital	4,061,330	3,983,714
Accumulated other comprehensive income (loss)	(297,203)	(163,360)
Retained earnings	2,697,636	2,097,430
Total shareholders' equity	6,461,800	5,917,821
Total liabilities and shareholders' equity	$ 16,663,048	$ 15,204,615

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - $ / shares	Dec. 31, 2019	Dec. 31, 2018
Statement Of Financial Position [Abstract]
Ordinary shares, par value (in dollars per share)	$ 0.0012	$ 0.0012
Ordinary shares, authorized	40,000,000	40,000,000
Ordinary shares, issued	31,164,004	31,164,004
Ordinary shares, outstanding	31,164,004	31,164,004

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Cash flows from operating activities
Net income	$ 941,206	$ 966,190	$ 758,795
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization expense	647,102	566,972	521,484
Deferred income taxes, net	(25,861)	1,598	10,849
Loss on extinguishment of debt	13,397	6,346	22,211
Provision for bad debts and inventory obsolescence	3,884	5,570	2,431
Gain on involuntary conversion of assets	(4,152)
Share-based compensation expense	95,055	115,983	87,039
Net foreign currency adjustments	(1,934)	(5,537)
Changes in operating assets and liabilities:
Accounts receivable, net	(14,104)	(15,886)	15,050
Inventories	(6,155)	(9,052)	(17,129)
Prepaid expenses and other assets	(74,101)	(29,550)	(22,868)
Accounts payable	(58,635)	106,503	13,987
Accrued expenses and other liabilities	(25,751)	113,278	64,663
Advance ticket sales	347,376	262,603	154,012
Net cash provided by operating activities	1,837,327	2,085,018	1,610,524
Cash flows from investing activities
Additions to property and equipment, net	(1,637,170)	(1,566,796)	(1,372,214)
Cash received on settlement of derivatives	289	64,796	2,346
Cash paid on settlement of derivatives	(47,085)	(1,719)	(35,694)
Other	3,774	1,011	664
Net cash used in investing activities	(1,680,192)	(1,502,708)	(1,404,898)
Cash flows from financing activities
Repayments of long-term debt	(3,806,732)	(1,716,244)	(1,916,885)
Proceeds from long-term debt	4,122,297	1,904,865	1,816,390
Dividends	(341,000)	(637,500)
Due to NCLH, net	(15,350)	(11,338)	17,628
Contribution from NCLH	3,500	7,000
Net share settlement of restricted share units	(20,939)	(13,855)	(6,342)
Early redemption premium	(6,829)	(5,154)	(15,506)
Deferred financing fees	(23,262)	(118,422)	(56,195)
Net cash used in financing activities	(88,315)	(590,648)	(160,910)
Net increase (decrease) in cash and cash equivalents	68,820	(8,338)	44,716
Cash and cash equivalents at beginning of period	162,419	170,757	126,041
Cash and cash equivalents at end of period	$ 231,239	$ 162,419	$ 170,757

Consolidated Statements of Chan

Consolidated Statements of Changes in Shareholders' Equity - USD ($) $ in Thousands	Ordinary Shares	Additional Paid-in Capital	Accumulated Other Comprehensive Income (Loss)	Retained Earnings	Total
Balance at Dec. 31, 2016	$ 37	$ 3,796,042	$ (316,186)	$ 1,007,780	$ 4,487,673
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation		87,039			87,039
Net share settlement of restricted share units		(6,342)			(6,342)
Other comprehensive income (loss), net			341,439		341,439
Net income				758,795	758,795
Balance at Dec. 31, 2017	37	3,874,586	25,253	1,768,728	5,668,604
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cumulative change in accounting policy		(2,153)		2,153
Share-based compensation		115,983			115,983
Net share settlement of restricted share units		(13,855)			(13,855)
Contribution from NCLH		7,000			7,000
Other comprehensive income (loss), net | Accounting Standards Update 2017-12 [Member]			(188,601)		(188,601)
Other comprehensive income (loss), net					(188,613)
Dividends				(637,500)	(637,500)
Net income				966,190	966,190
Balance at Dec. 31, 2018	37	3,983,714	(163,360)	2,097,430	5,917,821
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cumulative change in accounting policy			(12)	12
Share-based compensation		95,055			95,055
Net share settlement of restricted share units		(20,939)			(20,939)
Contribution from NCLH		3,500			3,500
Other comprehensive income (loss), net			(133,843)		(133,843)
Dividends				(341,000)	(341,000)
Net income				941,206	941,206
Balance at Dec. 31, 2019	$ 37	$ 4,061,330	$ (297,203)	$ 2,697,636	$ 6,461,800

Description of Business and Org

Description of Business and Organization	12 Months Ended
	Dec. 31, 2019
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 December 31, 2019, we had 27 ships with approximately 58,400 Berths and had orders for 10 additional ships to be delivered through 2027, subject to certain conditions. Seven Seas Splendor was delivered in January 2020. We refer you to Note 18 – “Subsequent Events” for additional information. We have two Allura Class Ships on order for delivery in the winter of 2022 and spring of 2025. Norwegian commenced operations from Miami in 1966. In February 2011, NCLH, a Bermuda limited company, was formed with the issuance to the Sponsors of, in aggregate, 10,000 ordinary shares, with a par value of $0.001 per share. In January 2013, NCLH completed its IPO and the ordinary shares of NCLC, all of which were owned by the Sponsors, were exchanged for the ordinary shares of NCLH, and NCLH became the owner of 100% of the ordinary shares and parent company of NCLC (the “Corporate Reorganization”). At the same time, NCLH contributed $460.0 million to NCLC and the historical financial statements of NCLC became those of NCLH. The Corporate Reorganization was affected solely for the purpose of reorganizing our corporate structure. As a result of the Secondary Equity Offerings, as of December 2018, the Sponsors no longer owned the ordinary shares they held in NCLH. In November 2014, we completed the Acquisition of Prestige. We believe that the combination of Norwegian and Prestige creates a cruise operating company with a rich product portfolio and strong market presence.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Basis of Presentation Our consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America and contain all normal recurring adjustments necessary for a fair presentation of the results for the periods presented. Estimates are required for the preparation of consolidated financial statements in accordance with generally accepted accounting principles and actual results could differ from these estimates. All significant intercompany accounts and transactions are eliminated in consolidation. Cash and Cash Equivalents Cash and cash equivalents are stated at cost and include cash and investments with original maturities of three months or less at acquisition and also include amounts due from credit card processors. Accounts Receivable, Net Accounts receivable are shown net of an allowance for doubtful accounts of $10.6 million and $9.6 million as of December 31, 2019 and 2018, respectively. Inventories Inventories mainly consist of provisions, supplies and fuel and are carried at the lower of cost or net realizable value using the first-in, first-out method of accounting. Advertising Costs Advertising costs are expensed as incurred except for those that result in tangible assets, including brochures, which are treated as prepaid expenses and charged to expense as consumed. Advertising costs of $5.9 million and $0.8 million as of December 31, 2019 and 2018, respectively, are included in prepaid expenses and other assets. Expenses related to advertising costs totaled $400.6 million, $327.3 million and $289.1 million for the years ended December 31, 2019, 2018 and 2017, respectively. Property and Equipment, Net Property and equipment are recorded at cost. Ship improvement costs that we believe add value to our ships are capitalized to the ship and depreciated over the shorter of the improvements’ estimated useful lives or the remaining useful life of the ship while costs of repairs and maintenance, including Dry-dock costs, are charged to expense as incurred. During ship construction, certain interest is capitalized as a cost of the ship. Gains or losses on the sale of property and equipment are recorded as a component of operating income (expense) in our consolidated statements of operations. The useful lives of ship improvements are estimated based on the economic lives of the new components. In addition, to determine the useful lives of the ship or ship components, we consider the impact of the historical useful lives of similar assets, manufacturer recommended lives and anticipated changes in technological conditions. Depreciation is computed on a straight-line basis over the estimated useful lives of the assets, after a 15% reduction for the estimated residual values of ships as follows: ​ ​ ​ ​ ​ Useful Life Ships 30 years Computer hardware and software 3 Other property and equipment 3 Leasehold improvements Shorter of lease term or asset life Ship improvements Shorter of asset life or life of the ship ​ Long-lived assets are reviewed for impairment, based on estimated future undiscounted cash flows, whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Assets are grouped and evaluated at the lowest level for which there are identifiable cash flows that are largely independent of the cash flows of other groups of assets. We consider historical performance and future estimated results in our evaluation of potential impairment and then compare the carrying amount of the asset to the estimated future cash flows expected to result from the use of the asset. If the carrying amount of the asset exceeds estimated expected undiscounted future cash flows, we measure the amount of the impairment by comparing the carrying amount of the asset to its fair value. We estimate fair value based on the best information available utilizing estimates, judgments and projections as necessary. Our estimate of fair value is generally measured by discounting expected future cash flows at discount rates commensurate with the associated risk. Goodwill and Tradenames Goodwill represents the excess of cost over the fair value of net assets acquired. Goodwill and other indefinite-lived assets, principally tradenames, are reviewed for impairment on an annual basis or earlier if there is an event or change in circumstances that would indicate that the carrying value of these assets may not be fully recoverable. We use the Step 0 Test which allows us to first assess qualitative factors to determine whether it is more likely than not (i.e., more than 50%) that the fair value of a reporting unit is less than its carrying value. For tradenames we also provide a qualitative assessment to determine if there is any indication of impairment. In order to make this evaluation, we consider the following circumstances as well as others: ● Changes in general macroeconomic conditions such as a deterioration in general economic conditions; limitations on accessing capital; fluctuations in foreign exchange rates; or other developments in equity and credit markets; ● Changes in industry and market conditions such as a deterioration in the environment in which an entity operates; an increased competitive environment; a decline in market-dependent multiples or metrics (in both absolute terms and relative to peers); a change in the market for an entity’s products or services; or a regulatory or political development; ● Changes in cost factors that have a negative effect on earnings and cash flows; ● Decline in overall financial performance (for both actual and expected performance); ● Entity and reporting unit specific events such as changes in management, key personnel, strategy, or customers; litigation; or a change in the composition or carrying amount of net assets; and ● Decline in share price (in both absolute terms and relative to peers). We also may conduct a quantitative assessment comparing the fair value of each reporting unit to its carrying value, including goodwill. This is called the Step I Test which consists of a combined approach using discounted future cash flows and market multiples to determine the fair value of the reporting units. The market approach considers revenue and EBITDA multiples from an appropriate peer group. Our discounted cash flow valuation reflects our principal assumptions of 1) forecasted future operating results and growth rates, 2) forecasted capital expenditures for fleet growth and ship improvements and 3) a weighted average cost of capital of market participants, adjusted for an optimal capital structure. We believe that the combined approach is the most representative method to assess fair value as it utilizes expectations of long-term growth as well as current market conditions. For the tradenames, we may also use a quantitative assessment, which utilizes the relief from royalty method and includes the same forecasts and discount rates from the discounted cash flow valuation in the goodwill assessment along with a tradename royalty rate assumption. ​ We have concluded that our business has three reporting units. Each brand, Oceania Cruises, Regent Seven Seas and Norwegian, constitutes a business for which discrete financial information is available and management regularly reviews the operating results and, therefore, each brand is considered an operating segment. As of December 31, 2019, there was $523.0 million, $462.1 million and $403.8 million of goodwill for the Oceania Cruises, Regent Seven Seas and Norwegian reporting units, respectively. For our 2019 annual goodwill and tradename impairment evaluation, we elected to perform quantitative tests for the Oceania Cruises, Regent Seven Seas and Norwegian reporting units. Based on the results of the tests, we determined there was no impairment of goodwill or tradenames Revenue and Expense Recognition Deposits on advance ticket sales are deferred when received and are subsequently recognized as revenue ratably during the voyage sailing days as services are rendered over time on the ship. Cancellation fees are recognized in passenger ticket revenue in the month of the cancellation. Goods and services associated with onboard revenue are generally provided at a point in time and revenue is recognized when the performance obligation is satisfied. A receivable is recognized for onboard goods and services rendered when the voyage is not completed before the end of the period. All associated direct costs of a voyage are recognized as incurred in cruise operating expenses. Disaggregation of Revenue Revenue and cash flows are affected by economic factors in various geographical regions. Revenues by destination consisted of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ 2019 2018 ​ 2017 North America ​ $ 3,807,576 ​ $ 3,543,282 ​ $ 3,285,903 Europe ​ 1,666,751 ​ 1,462,698 ​ 1,347,381 Asia-Pacific ​ 500,842 ​ 721,404 ​ 394,631 Other ​ 487,207 ​ 327,742 ​ 368,260 Total revenue ​ $ 6,462,376 ​ $ 6,055,126 ​ $ 5,396,175 ​ 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 was 81%, 77% and 77% for the years ended December 31, 2019, 2018 and 2017, respectively. No other individual country’s revenues exceeded 10% in any of our last three years. Substantially all of our long-lived assets are located outside of the U.S. and consist primarily of our ships. We had 19 ships with Bahamas registry with a carrying value of $10.2 billion as of December 31, 2019 and 18 ships with Bahamas registry with a carrying value of $9.1 billion as of December 31, 2018. We had seven ships with Marshall Island registry with a carrying value of $1.9 billion as of December 31, 2019 and 2018. We also had one ship with U.S. registry with a carrying value of $0.3 billion as of December 31, 2019 and 2018. Debt Issuance Costs Debt issuance costs related to a recognized debt liability are presented in the consolidated balance sheets as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. For line of credit arrangements and for those debt facilities not fully drawn we defer and present debt issuance costs as an asset. These deferred issuance costs are amortized over the life of the loan. 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 it is included in interest expense, net. Foreign Currency The majority of our transactions are settled in U.S. dollars. Gains or losses resulting from transactions denominated in other currencies are recognized in other income (expense), net at each balance sheet date. We recognized a loss of $7.0 million, a gain of $19.8 million and a loss of $14.2 million for the years ended December 31, 2019, 2018 and 2017, respectively. Derivative Instruments and Hedging Activity We enter into derivative contracts to reduce our exposure to fluctuations in foreign currency exchange rates, interest rates and fuel prices. The criteria used to determine whether a transaction qualifies for hedge accounting treatment includes the correlation between fluctuations in the fair value of the hedged item and the fair value of the related derivative instrument and its effectiveness as a hedge. As the derivative is marked to fair value, we elected an accounting policy to net the fair value of our derivatives when a master netting arrangement exists with our counterparties. A derivative instrument that hedges a forecasted transaction or the variability of cash flows related to a recognized asset or liability may be designated as a cash flow hedge. Changes in fair value of derivative instruments that are designated as cash flow hedges are recorded as a component of accumulated other comprehensive income (loss) until the underlying hedged transactions are recognized in earnings. To the extent that an instrument is not effective as a hedge, gains and losses are recognized in other income (expense), net in our consolidated statements of operations. Realized gains and losses related to our effective fuel hedges are recognized in fuel expense. For presentation in our consolidated statements of cash flows, we have elected to classify the cash flows from our cash flow hedges in the same category as the cash flows from the items being hedged. Concentrations of Credit Risk 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 derivative instruments, our Revolving Loan Facility and new ship progress payment guarantees, is not considered significant, as we primarily conduct business with large, well-established financial institutions and insurance companies that we have well-established relationships with and that have credit risks acceptable to us or the credit risk is spread out among a large number of creditors. We do not anticipate non-performance by any of our significant counterparties. Insurance We use a combination of insurance and self-insurance for a number of risks including claims related to crew and guests, hull and machinery, war risk, workers’ compensation, property damage, employee healthcare and general liability. Liabilities associated with certain of these risks, including crew and passenger claims, are estimated actuarially based upon known facts, historical trends and a reasonable estimate of future expenses. While we believe these accruals are adequate, the ultimate losses incurred may differ from those recorded. Income Taxes Deferred tax assets and liabilities are calculated in accordance with the liability method. Deferred taxes are recorded using the currently enacted tax rates that apply in the periods that the differences are expected to reverse. Deferred taxes are not discounted. We provide a valuation allowance on deferred tax assets when it is more likely than not that such assets will not be realized. With respect to acquired deferred tax assets, changes within the measurement period that result from new information about facts and circumstances that existed at the acquisition date shall be recognized through a corresponding adjustment to goodwill. Subsequent to the measurement period, all other changes shall be reported as a reduction or increase to income tax expense in our consolidated statements of operations. Share-Based Compensation We recognize expense for our share-based compensation awards using a fair-value-based method. Share-based compensation expense is recognized over the requisite service period for awards that are based on a service period and not contingent upon any future performance. We refer you to Note 11— “Employee Benefits and Share-Based Compensation.” Recently Issued Accounting Guidance In January 2017, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2017-04, Intangibles—Goodwill and Other (Topic 350) — Simplifying the Test for Goodwill Impairment, In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments

Revenue and Expense from Contra

Revenue and Expense from Contracts with Customers	12 Months Ended
	Dec. 31, 2019
Revenue from Contract with Customer [Abstract]
Revenue and Expense from Contracts with Customers	3. Revenue and Expense from Contracts with Customers Nature of Goods and Services We offer our guests a multitude of cruise fare options when booking a cruise. Our cruise ticket prices generally include cruise fare and a wide variety of onboard activities and amenities, meals, entertainment and port fees and taxes. In some instances, cruise ticket prices include round-trip airfare to and from the port of embarkation, complimentary beverages, unlimited shore excursions, free internet, pre-cruise hotel packages, and on some of the exotic itineraries, pre- or post-land packages. Prices vary depending on the particular cruise itinerary, stateroom category selected and the time of year that the voyage takes place. Passenger ticket revenue also includes full ship charters as well as port fees and taxes. During the voyage, we generate onboard and other revenue for additional products and services which are not included in the cruise fare, including casino operations, certain food and beverage, gift shop purchases, spa services, photo services, Wi-Fi services and other similar items. Food and beverage, casino operations, photo services and shore excursions are generally managed directly by us while retail shops, spa services, art auctions and internet services may be managed through contracts with third-party concessionaires. These contracts generally entitle us to a percentage of the gross sales derived from these concessions, which is recognized on a net basis. While some onboard goods and services may be prepaid prior to the voyage, we utilize point-of-sale systems for discrete purchases made onboard. Certain of our product offerings are bundled and we allocate the value of the bundled goods and services between passenger ticket revenue and onboard and other revenue based upon the relative standalone selling prices of those goods and services. Timing of Satisfaction of Performance Obligations and Significant Payment Terms The payment terms and cancellation policies vary by brand, stateroom category, length of voyage, and country of purchase. A deposit for a future booking is required at or soon after the time of booking. Final payment is generally due between 120 days and 180 days before the voyage. Deposits on advance ticket sales are deferred when received and include amounts that are refundable. Deferred amounts are subsequently recognized as revenue ratably during the voyage sailing days as services are rendered over time on the ship. Deposits are generally cancellable and refundable prior to sailing, but may be subject to penalties, depending on the timing of cancellation. The inception of substantive cancellation penalties generally coincides with the dates that final payment is due, and penalties generally increase as the voyage sail date approaches. Cancellation fees are recognized in passenger ticket revenue in the month of the cancellation. Goods and services associated with onboard revenue are generally provided at a point in time and revenue is recognized when the performance obligation is satisfied. Onboard goods and services rendered may be paid at disembarkation. A receivable is recognized for onboard goods and services rendered when the voyage is not completed before the end of the period. Cruises that are reserved under full ship charter agreements are subject to the payment terms of the specific agreement and may be either cancelable or non-cancelable. Deposits received on charter voyages are deferred when received and included in advance ticket sales. Deferred amounts are subsequently recognized as revenue ratably over the voyage sailing dates. Contract Balances Receivables from customers are included within accounts receivables, net. As of December 31, 2019 and 2018, our receivables from customers were $15.3 million and $17.3 million, respectively. Contract liabilities represent the Company’s obligation to transfer goods and services to a customer. A customer deposit held for a future cruise is generally considered a contract liability only when final payment is both due and paid by the customer and is usually recognized in earnings within 180 days of becoming a contract. Other deposits held and included within advance ticket sales or other long-term liabilities are not considered contract liabilities as they are largely cancelable and refundable. Our contract liabilities are included within advance ticket sales. As of December 31, 2019 and 2018, our contract liabilities were $1.4 billion and $1.2 billion, respectively. Of the amounts included within contract liabilities, approximately 55% were refundable in accordance with our cancellation policies. Approximately $1.2 billion of the December 31, 2018 contract liability balance has been recognized in revenue for the year ended December 31, 2019. Our revenue is seasonal and based on the demand for cruises. Historically, the seasonality of the North American cruise industry generally results in the greatest demand for cruises during the Northern Hemisphere’s summer months. This predictable seasonality in demand has resulted in fluctuations by quarter in our revenue and results of operations. The seasonality of our results is increased due to ships being taken out of service for regularly scheduled Dry-docks, which we typically schedule during non-peak demand periods. This seasonality will result in higher contract liability balances as a result of an increased number of reservations preceding these peak demand periods. The addition of new ships also increases the contract liability balances prior to a new ship’s delivery, as staterooms are made available for reservation prior to the inaugural cruise. Norwegian Encore, with approximately 4,000 Berths, was delivered on October 30, 2019 and added 7% capacity to our fleet. Practical Expedients and Exemptions We do not disclose information about remaining performance obligations that have original expected durations of one year or less. We recognize revenue in an amount that corresponds directly with the value to the customer of our performance completed to date. Variable consideration, which will be determined based on a future rate and passenger count, is excluded from the disclosure and these amounts are not material. These variable non-disclosed contractual amounts relate to our non-cancelable charter agreements and a leasing arrangement with a certain port, both of which are long-term in nature. Amounts that are fixed in nature due to the application of minimum guarantees are also not material and are not disclosed. Contract Costs Management expects that incremental commissions and credit card fees paid as a result of obtaining ticket contracts are recoverable; therefore, we recognize these amounts as assets when they are paid prior to the voyage. Costs of air tickets, port taxes and other fees that fulfill future performance obligations are also considered recoverable and are recorded as assets. Costs incurred to obtain customers were $143.5 million and $116.3 million as of December 31, 2019 and 2018, respectively. Costs to fulfill contracts with customers were $49.7 million and $32.5 million as of December 31, 2019 and 2018, respectively. Both costs to obtain and fulfill contracts with customers are recognized within prepaid expenses and other assets. Incremental commissions, credit card fees, air ticket costs, and port taxes and fees are recognized ratably over the voyage sailing dates, concurrent with associated revenue, and are primarily in commissions, transportation and other expense.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	12 Months Ended
	Dec. 31, 2019
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	4. Goodwill and Intangible Assets Goodwill and tradenames are not subject to amortization. As of December 31, 2019 and 2018, the carrying values were $1.4 billion for goodwill and $0.8 billion for tradenames. The gross carrying amounts of intangible assets included within other long-term assets, the related accumulated amortization, the net carrying amounts and the weighted-average amortization periods of the Company’s intangible assets are listed in the following tables (in thousands, except amortization period): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2019 ​ ​ ​ ​ ​ ​ ​ Weighted- ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Average ​ ​ Gross Carrying ​ Accumulated ​ Net Carrying ​ Amortization ​ ​ Amount ​ Amortization ​ Amount Period (Years) Customer relationships ​ $ 120,000 ​ $ (110,169) ​ $ 9,831 6.0 License ​ 750 ​ (331) ​ 419 10.0 Total intangible assets subject to amortization ​ $ 120,750 ​ $ (110,500) ​ $ 10,250 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2018 ​ ​ ​ ​ ​ ​ ​ Weighted- ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Average ​ ​ Gross Carrying ​ Accumulated ​ Net Carrying ​ Amortization ​ ​ Amount ​ Amortization ​ Amount Period (Years) Customer relationships ​ $ 120,000 ​ $ (91,756) ​ $ 28,244 6.0 Licenses ​ 3,368 ​ (2,874) ​ 494 5.6 Total intangible assets subject to amortization ​ $ 123,368 ​ $ (94,630) ​ $ 28,738 ​ The aggregate amortization expense is as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ 2019 2018 ​ 2017 Amortization expense ​ $ 18,488 ​ $ 26,163 ​ $ 31,232 ​ The following table sets forth the Company’s estimated aggregate amortization expense for each of the five years below (in thousands): ​ ​ ​ ​ ​ ​ Amortization Year ended December 31, ​ Expense 2020 ​ $ 9,906 2021 ​ ​ 75 2022 ​ ​ 75 2023 ​ ​ 75 2024 ​ ​ 75 ​

Leases

Leases	12 Months Ended
	Dec. 31, 2019
Leases [Abstract]
Leases	​ 5 . Leases On January 1, 2019, we adopted ASU No. 2016-02, Leases (“Topic 842”). Topic 842 supersedes the lease accounting requirements in Accounting Standards Codification (“ASC”) 840—Leases. In August 2018, the FASB issued ASU 2018-11, Targeted Improvements to Topic 842, which included an option to apply the new leases standard at the adoption date using a modified retrospective approach, which the Company elected. Nature of Leases We have finance leases for certain ship equipment and a corporate office. We have operating leases for port facilities, corporate offices, warehouses, and certain equipment. Many of our leases include both lease and non-lease components. We have adopted the practical expedient which allows us to combine lease and non-lease components by class of asset. We have applied this expedient for office leases, port facilities, and certain equipment. Significant Assumptions and Judgments in Applying Topic 842 and Practical Expedients Elected Our leases contain both fixed and variable payments. Fixed payments and variable lease payments that depend on a rate or index are included in the calculation of the right-of-use asset. Other variable payments are excluded from the calculation unless there is an unavoidable fixed minimum cost related to those payments such as a minimum annual guarantee. Our lease assets are amortized on a straight-line basis except for our rights to use port facilities. The expenses related to port facilities are amortized based on passenger counts as this basis represents the pattern in which the economic benefit is derived from the right to use the underlying asset. For non-consecutive lease terms, which relate to our rights to use certain port facilities, the term of the lease is based on the number of days on which we have the right to use a specified asset. We have adopted the practical expedient to exclude leases with terms of less than one year from being included on the balance sheet. Lease expense for agreements that are short-term are disclosed below and include both fixed and variable payments. Certain leases include one or more options to extend or terminate and are primarily in five-year increments. Lease extensions and terminations, including auto-renewing lease terms, were only included in the calculation of the right-of-use asset to the extent that the right to renew or terminate was at the option of the lessor only or where there was a more than insignificant penalty for termination. As our leases do not have a readily determinable implicit rate, we used our weighted average cost of debt to determine the net present value of the lease payments at the adoption date. Our weighted average cost of debt is similar to the incremental borrowing rate we would have obtained if we had borrowed collateralized debt over the lease term to purchase the asset, and the rate was adjusted for longer term leases. We have also adopted the practical expedient which allows us, by class of asset, to not separate lease and non-lease components when we are the lessor in the underlying transaction, the transactions would otherwise be accounted for under ASC 606–Revenue Recognition and the non-lease components are the predominant components of the agreements. We have applied this practical expedient to transactions with cruise passengers and concession service providers related to the use of our ships. We refer you to Note 3 – “Revenue and Expense from Contracts with Customers.” Impacts on Financial Statements As a result of the adoption of Topic 842 on January 1, 2019, we recorded operating lease right-of-use assets of $235.0 million and operating lease ​ ​ ​ ​ ​ The components of lease expense and revenue were as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ Year Ended ​ December 31, 2019 Operating lease expense $ 31,596 Variable lease expense ​ 14,284 Short-term lease expense ​ 50,832 Finance lease cost: ​ ​ ​ Amortization of right-to-use assets ​ 1,765 Interest on lease liabilities ​ 1,239 Operating lease revenue ​ 446 Sublease income ​ 1,615 ​ Lease balances were as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ Balance Sheet location December 31, 2019 Operating leases ​ ​ ​ ​ ​ Right-of-use assets Other long-term assets $ 236,604 Current operating lease liabilities Accrued expenses and other liabilities ​ 39,126 Non-current operating lease liabilities Other long-term liabilities ​ 207,243 ​ ​ ​ ​ ​ ​ Finance leases ​ ​ ​ ​ ​ Right-of-use assets Property and equipment, net ​ 13,873 Current finance lease liabilities Current portion of long-term debt ​ 6,419 Non-current finance lease liabilities Long-term debt ​ 8,812 ​ Supplemental cash flow information related to leases was as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ Year Ended ​ December 31, 2019 Cash paid for amounts included in the measurement of lease liabilities: ​ ​ ​ Operating cash outflows from operating leases $ 75,539 Operating cash outflows from finance leases ​ 1,051 Financing cash outflows from finance leases ​ 2,826 ​ ​ ​ ​ Right-of-use assets obtained in exchange for lease obligations: ​ ​ ​ Operating leases ​ 24,834 Finance leases ​ ​ 705 ​ As of December 31, 2019, maturities of lease liabilities, weighted-average remaining lease terms and discount rates for our leases were as follows (in thousands, except lease terms and discount rates): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating ​ Finance ​ leases leases 2020 $ 47,796 ​ $ 6,141 ​ 2021 ​ ​ 32,144 ​ 4,912 ​ 2022 ​ ​ 31,844 ​ 3,957 ​ 2023 ​ ​ 31,740 ​ 730 ​ 2024 ​ ​ 31,753 ​ 677 ​ Thereafter ​ ​ 112,718 ​ 629 ​ Total ​ ​ 287,995 ​ ​ 17,046 ​ Less: Present value discount ​ ​ (41,626) ​ ​ (1,815) ​ Present value of lease liabilities $ 246,369 ​ $ 15,231 ​ Weighted average remaining lease term (years) ​ ​ 8.30 ​ 3.65 ​ Weighted average discount rate ​ ​ 3.76 % 7.47 % ​ As previously disclosed in our Annual Report on Form 10-K for the year ended December 31, 2018, future minimum lease payments for operating leases having initial or remaining noncancelable lease terms in excess of one year were as follows under the previous lease accounting standard (ASC 840) (in thousands): ​ ​ ​ ​ ​ Year December 31, 2018 2019 ​ $ 16,651 2020 ​ 16,105 2021 ​ 15,315 2022 ​ 14,391 2023 ​ 13,462 Thereafter ​ 52,626 Total minimum annual rentals ​ $ 128,550 ​ Leases That Have Not Yet Commenced ​ We have multiple agreements that have been executed where the lease term has not commenced as of December 31, 2019. These are primarily related to our rights to use certain port facilities currently under construction. Although we may have provided design input, construction management services, or advances related to these assets, we have determined that we do not control these assets during the period of construction. These port facilities are expected to open for use during 2020 and include undiscounted minimum annual guarantees of approximately $1.1 billion of passenger fees.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	12 Months Ended
	Dec. 31, 2019
Statement Of Income And Comprehensive Income [Abstract]
Accumulated Other Comprehensive Income (Loss)	6. Accumulated Other Comprehensive Income (Loss) Accumulated other comprehensive income (loss) was as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, 2019 ​ ​ ​ ​ ​ 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 ​ $ (163,360) ​ $ (158,096) $ (5,264) Current period other comprehensive loss before reclassifications ​ (125,323) ​ (123,015) (2,308) Amounts reclassified into earnings ​ (8,520) ​ (8,898) (1) 378 (2) Accumulated other comprehensive income (loss) at end of period ​ $ (297,203) ​ $ (290,009) (3) $ (7,194) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, 2018 ​ ​ ​ ​ ​ 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 ​ $ 25,253 ​ $ 33,214 ​ $ (7,961) ​ Current period other comprehensive income (loss) before reclassifications ​ (158,943) ​ (161,214) 2,271 ​ Amounts reclassified into earnings ​ (29,670) ​ (30,096) (1) 426 (2) Accumulated other comprehensive income (loss) at end of period ​ $ (163,360) ​ $ (158,096) $ (5,264) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, 2017 ​ ​ ​ ​ ​ 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 ​ $ (316,186) ​ $ (308,265) $ (7,921) Current period other comprehensive income (loss) before reclassifications ​ 304,226 ​ 304,684 (458) Amounts reclassified into earnings ​ 37,213 ​ 36,795 (1) 418 (4) Accumulated other comprehensive income (loss) at end of period ​ $ 25,253 ​ $ 33,214 $ (7,961) (1) We refer you to Note 10— “Fair Value Measurements and Derivatives” in these notes to consolidated financial statements 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 $16.5 million of loss expected to be reclassified into earnings in the next 12 months. (4) Amortization of prior-service cost and actuarial loss reclassified to payroll and related expense.

Property and Equipment, Net

Property and Equipment, Net	12 Months Ended
	Dec. 31, 2019
Property, Plant and Equipment, Net [Abstract]
Property and Equipment, Net	7. Property and Equipment, Net Property and equipment, net consisted of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ 2019 2018 Ships ​ $ 14,154,578 ​ $ 13,032,555 Ships improvements ​ 1,865,272 ​ 1,407,989 Ships under construction ​ 387,749 ​ 491,632 Land and land improvements ​ 38,375 ​ 34,936 Other ​ 672,975 ​ 558,052 ​ ​ 17,118,949 ​ 15,525,164 Less: accumulated depreciation ​ (3,983,612) ​ (3,405,911) Property and equipment, net ​ $ 13,135,337 ​ $ 12,119,253 ​ The increase in ships was primarily due to the addition of Norwegian Encore. The Company capitalized approximately $458.9 million of costs associated with ship improvements. Depreciation expense for the years ended December 31, 2019, 2018 and 2017 was $627.7 million, $534.9 million and $478.7 million, respectively. Repairs and maintenance expenses including Dry-dock expenses were $199.7 million, $199.5 million and $157.2 million for the years ended December 31, 2019, 2018 and 2017, respectively, and were recorded within other cruise operating expense. Ships under construction include progress payments to the shipyard, planning and design fees and other associated costs. Capitalized interest costs which were primarily associated with the construction or revitalization of ships amounted to $32.9 million, $30.4 million and $29.0 million for the years ended December 31, 2019, 2018 and 2017, respectively.

Long-Term Debt

Long-Term Debt	12 Months Ended
	Dec. 31, 2019
Long-term Debt, Unclassified [Abstract]
Long-Term Debt	8. Long-Term Debt Long-term debt consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest Rate ​ ​ ​ Balance ​ ​ December 31, ​ Maturities ​ December 31, ​ 2019 2018 Through 2019 2018 ​ ​ ​ ​ ​ ​ ​ ​ (in thousands) $875.0 million senior secured revolving credit facility — ​ 3.96 % 2024 ​ $ — ​ $ 130,000 $75.0 million revolving credit line ​ 2.75 % — ​ 2020 ​ ​ 75,000 ​ ​ — Term Loan A 3.06 % 4.01 % 2024 ​ 1,565,512 ​ 1,256,167 $375.0 million Term Loan B (1) — ​ 4.26 % 2021 ​ — ​ 368,982 $700.0 million 4.750% senior unsecured notes — ​ 4.75 % 2021 ​ — ​ 561,021 $565.0 million 3.625% senior unsecured notes ​ 3.63 % — ​ 2024 ​ ​ 558,781 ​ ​ — €662.9 million Norwegian Epic term loan (2) — ​ 4.58 % 2022 ​ — ​ 259,394 $260 million Norwegian Jewel term loan 2.54 % — ​ 2022 ​ 221,860 ​ — $230 million Pride of America term loan ​ 2.81 % — ​ 2021 ​ ​ 229,621 ​ ​ — €529.8 million Breakaway one loan (2) 2.84 % 4.09 % 2025 ​ 305,969 ​ 360,680 €529.8 million Breakaway two loan (2) 4.10 % 4.50 % 2026 ​ 370,531 ​ 426,503 €590.5 million Breakaway three loan (2) 2.98 % 2.98 % 2027 ​ 478,665 ​ 537,223 €729.9 million Breakaway four loan (2) 2.98 % 2.98 % 2029 ​ 630,088 ​ 694,536 €710.8 million Seahawk 1 term loan (2) 3.92 % 3.92 % 2030 ​ 692,150 ​ 756,061 €748.7 million Seahawk 2 term loan (2) 3.92 % 3.92 % 2031 ​ 856,188 ​ 187,612 Leonardo newbuild one loan 2.68 % 2.68 % 2034 ​ 48,009 ​ 48,009 Leonardo newbuild two loan 2.77 % 2.77 % 2035 ​ 48,009 ​ 48,009 Leonardo newbuild three loan 1.22 % 1.22 % 2036 ​ 42,700 ​ 43,667 Leonardo newbuild four loan 1.31 % 1.31 % 2037 ​ 42,700 ​ 43,667 Sirena loan — ​ 2.75 % 2019 ​ — ​ 13,856 Explorer newbuild loan 3.43 % 3.43 % 2028 ​ 242,449 ​ 268,970 Marina newbuild loan (3) 2.75 % 3.07 % 2023 ​ 156,319 ​ 201,007 Riviera newbuild loan (4) 2.48 % 3.32 % 2024 ​ 202,233 ​ 247,203 Finance lease and license obligations Various Various 2028 ​ 34,909 ​ 39,524 Total debt ​ 6,801,693 ​ 6,492,091 Less: current portion of long-term debt ​ (746,358) ​ (681,218) Total long-term debt ​ $ 6,055,335 ​ $ 5,810,873 (1) Includes original issue discount of $0.7 million as of December 31, 2018. (2) Currently U.S. dollar-denominated. (3) Includes premium of $0.1 million as of December 31, 2019 and 2018. (4) Includes premium of $0.1 million and $0.2 million as of December 31, 2019 and 2018, respectively. On December 16, 2019, NCLC issued $565.0 million aggregate principle amount of 3.625% senior unsecured notes due December 2024 (the “Notes”) in a private offering (the “Offering”) at par. NCLC used the net proceeds from the Offering, after deducting the initial purchasers’ discount and estimated fees and expenses, together with cash on hand, to redeem $565.0 million principal amount of outstanding 4.75% Senior Notes due 2021 at a price equal to 100% of the principal amount being redeemed and paid the premium of $6.7 million. The redemption also resulted in a write off of $2.7 million of deferred fees. NCLC will pay interest on the Notes at 3.625% per annum, semiannually on June 15 and December 15 of each year, commencing on June 15, 2020, to holders of record at the close of business on the immediately preceding June 1 and December 1, respectively. NCLC may redeem the Notes, in whole or part, at any time prior to December 15, 2021, at a price equal to 100% of the principal amount of the Notes redeemed plus accrued and unpaid interest to, but not including, the redemption date and a “make-whole premium.” NCLC may redeem the Notes, in whole or in part, on or after December 15, 2021, at the redemption prices set forth in the indenture governing the Notes. At any time (which may be more than once) on or prior to December 15, 2021, NCLC may choose to redeem up to 40% of the aggregate principal amount of the Notes at a redemption price equal to 103.625% of the face amount thereof with an amount equal to the net proceeds of one or more equity offerings, so long as at least 60% of the aggregate principal amount of the Notes issued remains outstanding following such redemption. The indenture governing the Notes contains covenants that limit NCLC’s ability to, among other things: (i) create liens on certain assets to secure debt; (ii) enter into sale leaseback transactions; and (iii) consolidate, merge, sell or otherwise dispose of all or substantially all of its assets. ​ On October 30, 2019, we took delivery of Norwegian Encore. We had export financing in place for 80% of the contract price. The associated $882.9 million term loan bears interest at a fixed rate of 3.92% with a maturity date of October 30, 2031 . Principal and interest payments are payable semiannually. In October 2019, we entered into a $75 million revolving credit line agreement that matures in October 2020 and bears interest at LIBOR plus a margin of 0.95% . ​ NCLC entered into a $260 million credit agreement, dated as of May 15, 2019, with Bank of America, N.A., as administrative agent and collateral agent, and certain other lenders. The proceeds of this term loan were used to prepay the then outstanding principal and accrued interest of the Norwegian Epic term loan. The ​ NCLC entered into a $230 million credit agreement, dated as of January 10, 2019, with Nordea Bank ABP, New York Branch, as administrative agent and collateral agent, and certain other lenders. The proceeds of this term loan will be used for general corporate purposes, including to finance the pre-delivery installments due to the builder under the Company’s shipbuilding contracts. The $230 million term loan is secured by Pride of America Ship Holding, LLC and bears interest at LIBOR plus a margin of 1.00%. The term loan matures on January 10, 2021; however, NCLC may elect to extend the maturity date to January 10, 2022 provided certain conditions are met. Should NCLC elect to extend the maturity date, the interest rate will be LIBOR plus a margin of 1.10% for the third year. NCLC entered into a Fourth Amended and Restated Credit Agreement, dated as of January 2, 2019, with a subsidiary of NCLC, as co-borrower and JPMorgan Chase Bank, N.A., as administrative agent, and certain other lenders. This revised facility, among other things, (a) reduced the pricing of our existing $875 million Revolving Loan Facility, (b) reduced the pricing and increased the approximately $1.3 billion principal amount outstanding under the term loan A facility to $1.6 billion, and (c) extended the maturity dates for our Revolving Loan Facility and our term loan A facility to 2024, subject to certain conditions. We used the proceeds from the increase in our term loan A facility to prepay all of the then outstanding amounts under our term loan B facility. The transaction resulted in a loss on extinguishment of debt of $2.9 million. The applicable margin under the new term loan A facility and new Revolving Loan Facility is determined by reference to a total leverage ratio, with an applicable margin of between 1.75% and 1.00% with respect to Eurocurrency loans and between 0.75% and 0.00% with respect to base rate loans. The margin as of December 31, 2019 for borrowings under the new term loan A facility and new Revolving Loan Facility was 1.25% with respect to Eurocurrency borrowings. In addition to paying interest on outstanding principal under the borrowings, we are obligated to pay a quarterly commitment fee at a rate determined by reference to a total net leverage ratio, with a maximum commitment fee of 0.30%. ​ Interest expense, net for the year ended December 31, 2019 was $272.9 million which included $27.5 million of amortization of deferred financing fees and a $16.7 million loss on extinguishment and modification of debt. Interest expense, net for the year ended December 31, 2018 was $270.4 million which included $31.4 million of amortization of deferred financing fees and a $6.3 million loss on extinguishment of debt. Interest expense, net for the year ended December 31, 2017 was $267.8 million which included $32.5 million of amortization of deferred financing fees and a $23.9 million loss on extinguishment and modification of debt. Certain of our debt agreements contain covenants that, among other things, require us to maintain a minimum level of liquidity, as well as limit our net funded debt-to-capital ratio, and maintain certain other ratios and restrict our ability to pay dividends. Substantially all of our ships and other property and equipment are pledged as collateral for certain of our debt. We believe we were in compliance with our covenants as of December 31, 2019. The following are scheduled principal repayments on long-term debt including finance lease obligations as of December 31, 2019 for each of the next five years (in thousands): ​ ​ ​ ​ ​ Year Amount 2020 ​ $ 746,358 2021 ​ 899,206 2022 ​ 667,456 2023 ​ 574,492 2024 ​ 2,260,295 Thereafter ​ 1,778,870 Total ​ $ 6,926,677 ​ We had an accrued interest liability of $33.3 million and $37.2 million as of December 31, 2019 and 2018, respectively.

Related Party Disclosures

Related Party Disclosures	12 Months Ended
	Dec. 31, 2019
Related Party Transactions [Abstract]
Related Party Disclosures	9. Related Party Disclosures Transactions with Genting HK and Apollo In December 2018, as part of a public equity offering of NCLH’s ordinary shares owned by Apollo and Genting HK, NCLH repurchased 1,683,168 of its ordinary shares sold in the offering for approximately $85.0 million pursuant to its $1.0 billion three year share repurchase program approved by NCLH’s Board of Directors in April 2018. In March 2018, as part of a public equity offering of NCLH’s ordinary shares owned by Apollo and Genting HK, NCLH repurchased 4,722,312 of its ordinary shares sold in the offering for approximately $263.5 million pursuant to its then existing share repurchase program. In connection with NCLH’s repurchases of its ordinary shares, NCLC paid $341.0 million and $637.5 million in dividends to NCLH in 2019 and 2018, respectively.

Fair Value Measurements and Der

Fair Value Measurements and Derivatives	12 Months Ended
	Dec. 31, 2019
Fair Value Disclosures [Abstract]
Fair Value Measurements and Derivatives	10. 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 regression analysis for this hedge relationship 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 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 December 31, 2019, we had fuel swaps, which are used to mitigate the financial impact of volatility of fuel prices pertaining to approximately 1.1 million metric tons of our projected fuel purchases, maturing through December 31, 2022 . As of December 31, 2019, 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 foreign currency forward contracts was €1.8 billion, or $2.0 billion based on the euro/U.S. dollar exchange rate as of December 31, 2019. As of December 31, 2019, we had interest rate swaps and collars which are used to hedge our exposure to interest rate movements and manage our interest expense. The notional amount of our outstanding debt associated with the interest rate swaps and collars was $1.7 billion as of December 31, 2019. The derivatives measured at fair value and the respective location in the consolidated balance sheets includes the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Assets ​ Liabilities ​ ​ ​ ​ ​ December 31, ​ December 31, ​ December 31, ​ December 31, ​ ​ Balance Sheet Location 2019 2018 2019 2018 ​ Derivative Contracts Designated as Hedging Instruments ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fuel contracts ​ ​ ​ ​ ​ Prepaid expenses and other assets ​ $ — ​ $ 2,583 ​ $ — ​ $ 1 ​ ​ Other long-term assets ​ 277 ​ 197 ​ — ​ 29 ​ ​ Accrued expenses and other liabilities ​ 2,300 ​ 1,173 ​ 18,257 ​ 19,547 ​ ​ Other long-term liabilities ​ 683 ​ 933 ​ 17,763 ​ 51,184 ​ Foreign currency contracts ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Prepaid expenses and other assets ​ — ​ 5,285 ​ — ​ 1,497 ​ ​ Other long-term assets ​ — ​ 3,514 ​ — ​ — ​ ​ Accrued expenses and other liabilities ​ — ​ 112 ​ 33,475 ​ 5,145 ​ ​ Other long-term liabilities ​ 169 ​ 2,874 ​ 118,500 ​ 40,476 ​ Interest rate contracts ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Prepaid expenses and other assets ​ — ​ 519 ​ — ​ — ​ ​ Other long-term assets ​ — ​ 27 ​ — ​ — ​ ​ Accrued expenses and other liabilities ​ — ​ — ​ 2,178 ​ — ​ ​ ​ Other long-term liabilities ​ ​ — ​ ​ — ​ ​ 1,861 ​ ​ — ​ Total derivatives designated as hedging instruments ​ ​ ​ $ 3,429 ​ $ 17,217 ​ $ 192,034 ​ $ 117,879 ​ ​ 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 gross and net amounts recognized within assets and liabilities include the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross ​ ​ Gross ​ ​ ​ ​ Gross ​ Amounts ​ Total Net ​ Amounts ​ ​ ​ December 31, 2019 ​ Amounts ​ Offset ​ Amounts ​ Not Offset ​ Net Amounts Assets ​ $ 277 ​ $ — ​ $ 277 ​ $ — ​ $ 277 Liabilities ​ ​ 192,034 ​ ​ (3,152) ​ ​ 188,882 ​ ​ (149,863) ​ ​ 39,019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross ​ ​ Gross ​ ​ ​ ​ Gross ​ Amounts ​ Total Net ​ Amounts ​ ​ ​ December 31, 2018 ​ Amounts ​ Offset ​ Amounts ​ Not Offset ​ Net Amounts Assets ​ $ 12,125 ​ $ (1,527) ​ $ 10,598 ​ $ (6,872) ​ $ 3,726 Liabilities ​ ​ 116,352 ​ ​ (5,092) ​ ​ 111,260 ​ ​ (35,718) ​ ​ 75,542 ​ The effects of cash flow hedge accounting on accumulated other comprehensive income (loss) include the following (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 Derivatives ​ Comprehensive Income ​ Income ​ Income (Loss) into Income ​ ​ Year Ended December 31, ​ ​ ​ Year Ended December 31, ​ ​ 2019 2018 2017 ​ ​ ​ 2019 2018 ​ 2017 Fuel contracts ​ $ 46,154 ​ $ (52,949) $ 50,263 ​ Fuel ​ $ 14,093 ​ $ 34,410 ​ $ (29,721) Foreign currency contracts ​ (163,197) ​ (108,911) 254,070 ​ Depreciation and amortization ​ (3,062) ​ (3,463) ​ (4,077) Interest rate contracts ​ (5,972) ​ 646 351 ​ Interest expense, net ​ (2,133) ​ (851) ​ (2,997) Total gain (loss) recognized in other comprehensive income ​ $ (123,015) ​ $ (161,214) $ 304,684 ​ ​ $ 8,898 ​ $ 30,096 ​ $ (36,795) ​ The effects of cash flow hedge accounting on the consolidated statements of operations include the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, 2019 ​ Year Ended December 31, 2018 ​ ​ ​ ​ ​ Depreciation ​ ​ ​ ​ ​ ​ ​ Depreciation ​ ​ ​ ​ ​ ​ ​ ​ and ​ Interest ​ ​ ​ ​ and ​ Interest ​ ​ ​ Fuel Amortization Expense, net Fuel Amortization 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 ​ $ 409,602 ​ $ 646,188 ​ $ 272,867 ​ $ 392,685 ​ $ 561,060 ​ $ 270,404 ​ ​ ​ ​ ​ ​ ​ ​ ​ Amount of gain (loss) reclassified from accumulated other comprehensive income (loss) into income ​ ​ ​ ​ ​ ​ ​ Fuel contracts ​ ​ 14,093 ​ ​ — ​ ​ — ​ ​ 34,410 ​ ​ — ​ ​ — ​ Foreign currency contracts ​ ​ — ​ ​ (3,062) ​ ​ — ​ ​ — ​ ​ (3,463) ​ ​ — ​ Interest rate contracts ​ ​ — ​ ​ — ​ ​ (2,133) ​ ​ — ​ ​ — ​ ​ (851) ​ ​ ​ The effects of cash flow hedge accounting on the consolidated statements of operations include the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, 2017 ​ ​ ​ ​ Depreciation ​ ​ ​ ​ ​ ​ ​ and ​ Interest ​ ​ Fuel ​ Amortization ​ 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 ​ $ 361,032 ​ $ 509,957 ​ $ 267,782 ​ ​ ​ ​ Amount of gain (loss) reclassified from accumulated other comprehensive income (loss) into income ​ ​ ​ Fuel contracts ​ ​ (29,721) ​ ​ — ​ ​ — Foreign currency contracts ​ ​ — ​ ​ (4,077) ​ ​ — Interest rate contracts ​ ​ — ​ ​ — ​ ​ (2,997) ​ Other The carrying amounts reported in the consolidated balance sheets of all other financial assets and liabilities approximate fair value. Long-Term Debt As of December 31, 2019 and 2018, the fair value of our long-term debt, including the current portion, was $6,957.8 million and $6,601.9 million, respectively, which was $31.3 million higher and $8.4 million lower, respectively, than the carrying values. 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. Market risk associated with our long-term variable rate debt is the potential increase in interest expense from an increase in interest rates. The fair value of our long-term debt was calculated based on estimated rates for the same or similar instruments with similar terms and remaining maturities, which represent Level 2 inputs in the fair value hierarchy. Non-Recurring Measurements of Non-Financial Assets Goodwill and other indefinite-lived assets, principally tradenames, are reviewed for impairment on an annual basis or earlier if there is an event or change in circumstances that would indicate that the carrying value of these assets may not be fully recoverable. We believe our estimates and judgments with respect to our long-lived assets, principally ships, and goodwill and other indefinite-lived intangible assets are reasonable. Nonetheless, if there was a material change in assumptions used in the determination of such fair values or if there is a material change in the conditions or circumstances that influence such assets, we could be required to record an impairment charge. We estimate fair value based on the best information available utilizing estimates, judgments and projections as necessary. As of December 31, 2019, our annual review supports the carrying value of these assets.

Employee Benefits and Share-Bas

Employee Benefits and Share-Based Compensation	12 Months Ended
	Dec. 31, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Employee Benefits and Share-Based Compensation	11. Employee Benefits and Share-Based Compensation Amended and Restated 2013 Performance Incentive Plan 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, with no more than 5,000,000 shares being granted to one individual in any calendar year. In May 2016, the plan was amended and restated (“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 by an additional 12,430,000 shares to a new maximum aggregate limit of 27,465,106 shares. Additionally, the expiration date of the Restated 2013 Plan was extended to March 30, 2026. Share options under the plan are granted with an exercise price equal to the closing market price of NCLH shares at the date of grant. The vesting period for time-based options is typically set at three , four or five years with a contractual life ranging from seven to 10 years . The vesting period for time-based and performance-based restricted share units is generally three years . Forfeited awards will be available for subsequent awards under the Restated 2013 Plan. NCLH Share Option Awards There were no time-based share option awards granted for the years ended December 31, 2019, 2018 and 2017 or performance-based share option awards granted for the year ended December 31, 2019. The performance-based options awarded to our President and Chief Executive Officer in August 2015 were subject to performance conditions such that the number of awards that ultimately vested depended on the adjusted earnings per share (“Adjusted EPS”) and adjusted return on invested capital (“Adjusted ROIC”) achieved by NCLH during the performance period compared to targets established at the award date. Although the terms of the performance-based awards provide the compensation committee with the discretion to make certain adjustments to the performance calculation, it was determined that a mutual understanding of the key terms and conditions of the awards had been ascertained. In 2018, the grant date was therefore established for performance-based awards granted in prior years. The fair value of each performance-based option award is estimated on the date of grant using the Black-Scholes option-pricing model. The estimated fair value of the share options is amortized over the requisite service period using the straight-line method. The assumptions used within the option-pricing model for the performance-based awards are as follows: ​ ​ ​ ​ ​ ​ ​ 2018 2017 Dividend yield —% ​ —% Expected share price volatility 31.50% - 32.20% ​ 25.97% Risk-free interest rate 2.48% - 2.58% ​ 1.81% Expected term 3.72 - 4.22 years 4.20 years ​ Expected volatility was determined based on the historical share prices in our industry. The risk-free rate was based on U.S. Treasury zero coupon issues with a remaining term equal to the expected option term at grant date. The expected term was calculated under the simplified method. The following table sets forth a summary of option activity under NCLH’s Restated 2013 Plan for the period presented: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted- ​ ​ ​ ​ Number of Share Option Awards ​ Weighted-Average Exercise Price ​ Average ​ Aggregate ​ Time- Performance- Market- Time- Performance- Market- Contractual Intrinsic ​ ​ Based ​ Based ​ Based ​ Based ​ Based ​ Based ​ Term ​ Value ​ ​ Awards ​ Awards ​ Awards ​ Awards ​ Awards ​ Awards ​ (years) ​ (in thousands) Outstanding as of January 1, 2019 5,686,793 410,499 208,333 ​ $ 50.65 ​ $ 45.67 ​ $ 59.43 6.22 ​ $ 13,946 Exercised (636,073) ​ (138,759) — ​ ​ 40.30 ​ ​ 19.00 ​ ​ — ​ Forfeited and cancelled (132,166) ​ (156,251) — ​ ​ 56.13 ​ ​ 59.43 ​ ​ — ​ Outstanding as of December 31, 2019 4,918,554 115,489 208,333 ​ $ 51.84 ​ $ 59.11 ​ $ 59.43 5.42 ​ $ 33,413 Vested and expected to vest as of December 31, 2019 4,918,554 115,489 — ​ $ 51.84 ​ $ 59.11 ​ $ — 5.41 ​ $ 33,413 Exercisable as of December 31, 2019 4,917,721 115,489 — ​ $ 51.84 ​ $ 59.11 ​ $ — 5.41 ​ $ 33,411 ​ The weighted-average grant-date fair value of performance-based options granted (or where a grant date had not been previously established, the fair value recognized) during the years ended December 31, 2018 and 2017 was $15.20, and $8.55, respectively. The total intrinsic value of share options exercised during 2019, 2018 and 2017 was $13.3 million, $16.7 million and $18.9 million, respectively, and total cash received by the Company from exercises was $28.3 million, $25.8 million and $27.4 million, respectively. As of December 31, 2019, there was no unrecognized compensation cost, related to options granted under our share-based incentive plans. Restricted Ordinary Share Awards The following is a summary of NCLH’s restricted ordinary share activity for the period presented: ​ ​ ​ ​ ​ ​ ​ ​ Number of ​ ​ ​ ​ Time- ​ Weighted- ​ Based Average Grant ​ Awards ​ Date Fair Value Non-vested as of January 1, 2019 429 ​ $ 58.41 Vested (429) ​ ​ 58.41 Non-vested as of December 31, 2019 — ​ $ — ​ Restricted Share Unit (“RSU”) Awards On March 1, 2019, NCLH granted to certain employees 1.9 million time-based RSU awards which vest equally over three years . Also on March 1, 2019, NCLH granted to certain members of our management team 0.5 million performance-based RSU awards, which vest upon the achievement of certain pre-established performance targets and which amount assumes the maximum level of achievement. The fair value of the time-based and performance-based RSUs is equal to the closing market price of NCLH shares at the date of grant. The performance-based RSUs awarded to certain members of our management team are subject to performance conditions such that the number of shares that ultimately vest depends on the Adjusted EPS and Adjusted ROIC achieved by the Company during the performance period compared to targets established at the award date. Although the terms of the performance-based RSU awards provide the compensation committee with the discretion to make certain adjustments to the performance calculation, it was determined that a mutual understanding of the key terms and conditions of the awards has been ascertained. In 2018, the grant date was therefore established for performance-based RSU awards granted in prior years. NCLH remeasures the probability and the cumulative share-based compensation expense of the awards each reporting period until vesting or forfeiture occurs. The following table sets forth a summary of RSU activity for the period presented: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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, 2019 ​ 2,973,032 ​ $ 53.98 ​ 825,614 ​ $ 56.58 ​ 50,000 ​ $ 59.43 Granted 1,929,495 ​ ​ 55.00 462,282 (1) ​ 55.27 — ​ ​ — Vested (1,430,291) ​ ​ 53.02 (121,000) ​ ​ 56.27 — ​ ​ — Forfeited or expired (226,611) ​ ​ 55.04 (37,500) ​ ​ 56.27 — ​ ​ — Non-vested as of December 31, 2019 3,245,625 ​ $ 54.94 1,129,396 ​ $ 56.09 50,000 ​ $ 59.43 Non-vested and expected to vest as of December 31, 2019 ​ 3,245,625 ​ $ 54.94 483,976 ​ $ 56.61 — ​ $ — (1) Number of performance-based restricted share units included assumes maximum achievement of performance targets. As of December 31, 2019, there was total unrecognized compensation costs related to non-vested time-based, non-vested performance-based and market-based RSUs of $106.5 million, $9.2 million and $0, respectively. The costs are expected to be recognized over a weighted-average period of 1.8 years, 1.1 years and 0 years, respectively, for the time-based, performance-based and market-based RSUs. Taxes paid pursuant to net share settlements in 2019, 2018 and 2017 were $20.9 million, $13.9 million and $6.3 million, respectively. Employee Stock Purchase Plan (“ESPP”) In April 2014, NCLH’s shareholders approved the ESPP. The purpose of the ESPP is to provide eligible employees with an opportunity to purchase NCLH’s ordinary shares at a favorable price and upon favorable terms in consideration of the participating employees’ continued services. A maximum of 2,000,000 of NCLH’s ordinary shares may be purchased under the ESPP. To be eligible to participate in an offering period, on the grant date of that period, an individual must be customarily employed by the Company or a participating subsidiary for more than twenty hours per week and for more than five months per calendar year. Participation in the ESPP is also subject to certain limitations. The ESPP is considered to be compensatory based on: a) the 15% purchase price discount and b) the look-back purchase price feature. Since the plan is compensatory, compensation expense must be recorded in the consolidated statements of operations on a straight-line basis over the six-month withholding period. As of December 31, 2019 and 2018, we had a liability for payroll withholdings received of $2.1 million and $1.9 million, respectively. The compensation expense recognized for share-based compensation for the periods presented include the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, Classification of expense 2019 2018 2017 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Payroll and related (1) ​ $ 17,597 ​ $ 15,629 ​ $ 9,455 Marketing, general and administrative (2) ​ 77,458 ​ 100,354 ​ 77,584 Total share-based compensation expense ​ $ 95,055 ​ $ 115,983 ​ $ 87,039 (1) Amounts relate to equity granted to certain of our shipboard officers. (2) Amounts relate to equity granted to certain of our corporate employees. Employee Benefit Plans We offer annual incentive bonuses pursuant to our Restated 2013 Plan for our executive officers and other key employees. Bonuses under the plan become earned and payable based on NCLH’s performance during the applicable performance period and the individual’s continued employment. Company performance criteria include the attainment of certain financial targets and other strategic objectives. Certain employees are employed pursuant to agreements that provide for severance payments. Severance is generally only payable upon an involuntary termination of the employment by us without cause or a termination by the employee for good reason. Severance generally includes a series of cash payments based on the employee’s base salary (and in some cases, bonus), and our payment of the employee’s continued medical benefits for the applicable severance period. We maintain a 401(k) Plan for our shoreside employees, including our executive officers. Participants may contribute up to 100% of eligible compensation each pay period, subject to certain limitations. We make matching contributions equal to 100% of the first 3% and 50% of amounts greater than 3% to and including 10% of each participant’s contributions subject to certain limitations. In addition, we may make discretionary supplemental contributions to the 401(k) Plan, which shall be allocated pro rata to each eligible participant based on the compensation of the participant relative to the total compensation of all participants. Our matching contributions are vested according to a five-year schedule. The 401(k) Plan is subject to the provisions of ERISA and is intended to be qualified under section 401(a) of the U.S. Internal Revenue Code (the “Code”). Our matching contributions are reduced by amounts forfeited by those employees who leave the 401(k) Plan prior to vesting fully in the matching contributions. Forfeited contributions of $0.2 million, $0.3 million and $0.3 million were utilized in the years ended December 31, 2019, 2018 and 2017, respectively. We recorded total expenses related to the above 401(k) Plan of $9.1 million, $9.3 million and $7.3 million for the years ended December 31, 2019, 2018 and 2017, respectively. Effective January 2009, we implemented the Shipboard Retirement Plan which computes benefits based on years of service, subject to eligibility requirements. The Shipboard Retirement Plan is unfunded with no plan assets. The current portion of the projected benefit obligation of $0.9 million and $1.0 million was included in accrued expenses and other liabilities as of December 31, 2019 and 2018, respectively, and $27.8 million and $23.3 million was included in other long-term liabilities in our consolidated balance sheets as of December 31, 2019 and 2018, respectively. The amounts related to the Shipboard Retirement Plan were as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of or for the Year Ended December 31, ​ 2019 2018 2017 Pension expense: ​ ​ ​ Service cost ​ $ 2,135 ​ $ 2,167 ​ $ 1,987 Interest cost ​ 1,001 ​ 857 ​ 887 Amortization of prior service cost ​ 378 ​ 378 ​ 378 Amortization of actuarial loss ​ — ​ 51 ​ 40 Total pension expense ​ $ 3,514 ​ $ 3,453 ​ $ 3,292 Change in projected benefit obligation: ​ ​ ​ Projected benefit obligation at beginning of year ​ $ 24,318 ​ $ 24,587 ​ $ 22,605 Service cost ​ 2,135 ​ 2,167 ​ 1,987 Interest cost ​ 1,001 ​ 857 ​ 887 Actuarial gain (loss) ​ 2,308 ​ (2,271) ​ 458 Direct benefit payments ​ (1,067) ​ (1,022) ​ (1,350) Projected benefit obligation at end of year ​ $ 28,695 ​ $ 24,318 ​ $ 24,587 Amounts recognized in the consolidated balance sheets: ​ ​ ​ Projected benefit obligation ​ $ 28,695 ​ $ 24,318 ​ $ 24,587 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the Year Ended December 31, ​ 2019 2018 2017 Amounts recognized in accumulated other comprehensive income (loss): ​ ​ ​ Prior service cost ​ $ (3,781) ​ $ (4,159) ​ $ (4,537) Accumulated actuarial loss ​ (3,413) ​ (1,105) ​ (3,426) Accumulated other comprehensive income (loss) ​ $ (7,194) ​ $ (5,264) ​ $ (7,963) ​ The discount rates used in the net periodic benefit cost calculation for the years ended December 31, 2019, 2018 and 2017 were 4.2%, 3.6% and 4.0%, respectively, and the actuarial loss is amortized over 18.91 years. The discount rate is used to measure and recognize obligations, including adjustments to other comprehensive income (loss), and to determine expense during the periods. It is determined by using bond indices which reflect yields on a broad maturity and industry universe of high-quality corporate bonds. The pension benefits expected to be paid in each of the next five years and in aggregate for the five years thereafter are as follows (in thousands): ​ ​ ​ ​ ​ Year Amount 2020 ​ $ 922 2021 ​ ​ 949 2022 ​ ​ 1,045 2023 ​ ​ 1,208 2024 ​ ​ 1,340 Next five years ​ ​ 10,585 ​

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Income Taxes	12. Income Taxes We are incorporated in Bermuda. Under current Bermuda law, we are not subject to tax on income and capital gains. We have received from the Minister of Finance under The Exempted Undertakings Tax Protection Act 1966, as amended, an assurance that, in the event that Bermuda enacts legislation imposing tax computed on profits, income, any capital asset, gain or appreciation, or any tax in the nature of estate duty or inheritance, then the imposition of any such tax shall not be applicable to us or to any of our operations or shares, debentures or other obligations, until March 31, 2035. For the taxable years ended 2019, 2018 and 2017, NCLC was treated as a disregarded entity for U.S. federal income tax purposes and will be going forward. Two of NCLC’s subsidiaries file a U.S. federal income tax return. The components of net income before income taxes consist of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ 2019 2018 2017 Bermuda ​ $ — ​ $ — ​ $ — Foreign - Other ​ 914,001 ​ ​ 974,172 ​ ​ 773,269 Net income before income taxes ​ $ 914,001 ​ $ 974,172 ​ $ 773,269 ​ The components of the provision for income taxes consisted of the following benefit (expense) (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ 2019 2018 2017 Current: ​ ​ ​ Bermuda ​ $ — ​ $ — ​ $ — United States ​ 837 ​ (836) ​ 1,026 Foreign - Other ​ (6,294) ​ (5,371) ​ (4,616) Total current: ​ (5,457) ​ (6,207) ​ (3,590) Deferred: ​ ​ ​ Bermuda ​ — ​ — ​ — United States ​ 32,315 ​ (2,001) ​ (11,370) Foreign - Other ​ 347 ​ 226 ​ 486 Total deferred: ​ 32,662 ​ (1,775) ​ (10,884) Income tax benefit (expense) ​ $ 27,205 ​ $ (7,982) ​ $ (14,474) ​ Our reconciliation of income tax expense computed by applying our Bermuda statutory rate and reported income tax benefit (expense) was as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ 2019 2018 2017 Tax at Bermuda statutory rate ​ $ — ​ $ — ​ $ — Foreign income taxes at different rates ​ (9,819) ​ (11,119) ​ (17,978) Tax contingencies ​ (206) ​ (6) ​ 946 Return to provision adjustments ​ 1,538 ​ 3,055 ​ (2,192) Benefit (expense) from change in tax rate ​ (7) ​ 88 ​ 4,750 Valuation allowance ​ 35,699 ​ — ​ — Income tax benefit (expense) ​ $ 27,205 ​ $ (7,982) ​ $ (14,474) ​ Deferred tax assets and liabilities were as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, ​ 2019 2018 Deferred tax assets: ​ ​ ​ Loss carryforwards ​ $ 54,122 ​ $ 62,909 Other ​ 2,356 ​ 2,013 Valuation allowance ​ (5,847) ​ (41,924) Total net deferred assets ​ 50,631 ​ 22,998 Deferred tax liabilities: ​ ​ Property and equipment ​ (34,724) ​ (32,954) Total deferred tax liabilities ​ (34,724) ​ (32,954) Net deferred tax asset (liability) ​ $ 15,907 ​ $ (9,956) ​ We have U.S. net operating loss carryforwards of $238.8 million and $278.3 million for the years ended December 31, 2019 and 2018, respectively, which begin to expire in 2031, a portion of which relate to Prestige discussed further below. Included above are deferred tax assets associated with our operations in Norway for which we have provided a full valuation allowance. We have Norway net operating loss carryforwards of $13.3 million and $13.9 million for the years ended December 31, 2019 and 2018, respectively, which can be carried forward indefinitely. Included above are deferred tax assets associated with our branch operations in the U.K. for which we have provided a full valuation allowance. We have U.K. net operating loss carryforwards of $5.5 million and $7.5 million for the years ended December 31, 2019 and 2018, respectively, which can be carried forward indefinitely. Included above are deferred tax assets associated with Prestige. We have U.S. net operating loss carryforwards of $145.0 million and $177.5 million for the years ended December 31, 2019 and 2018, respectively, which begin to expire in 2031 . Utilization of the Prestige net operating loss carryforwards may be subject to a substantial annual limitation due to ownership change limitations that have occurred previously and/or that could occur in the future, as provided by Section 382 of the Internal Revenue Code of 1986 (“Section 382”). Ownership changes may limit the amount of net operating loss carryforwards that can be utilized to offset future taxable income and tax, respectively. In general, an ownership change, as defined by Section 382, results from transactions increasing the ownership of certain shareholders or public groups in the stock of a corporation by more than 50 percentage points over a three-year period. If we have experienced an ownership change, utilization of Prestige’s net operating loss carryforwards would be subject to an annual limitation under Section 382. Any limitation may result in expiration of a portion of the net operating loss carryforwards before utilization. Subsequent ownership changes could further impact the limitation in future years. We implemented certain tax restructuring strategies that created our ability to utilize the net operating loss carryforwards of Prestige, for which we had previously provided a full valuation allowance. In March 2019, we completed a Section 382 study that determined the amount of the Prestige net operations loss carryforwards that can be utilized against future taxable income resulting in a tax benefit of In December 2017, the Tax Cuts and Jobs Act (the “Act”) was enacted. Among other provisions, the Act reduces the U.S. federal corporate tax rate from 35% to 21%. Also in December 2017, the SEC staff issued SAB No. 118, which addresses the recognition of provisional amounts when a company does not have the necessary information available, prepared or analyzed (including computations) in reasonable detail to complete its accounting for the effect of the changes in the Act. The measurement period ends when a company has obtained, prepared and analyzed the information necessary to finalize its accounting, but cannot extend beyond one year. The Company completed the accounting for the tax effects of enactment of the Act. There is no material change to the $4.5 million reduction of the value of net deferred tax liabilities (which represents future tax expenses) recorded in 2017 as a discrete tax benefit resulting from the federal corporate income tax rate reduction. Other aspects of the Act were either not applicable or did not have a material impact on the Company’s consolidated financial statements. The following is a tabular reconciliation of the total amounts of unrecognized tax benefits (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, ​ 2019 2018 Unrecognized tax benefits, beginning of the year ​ $ 532 ​ $ 532 Gross increases in tax positions from prior periods ​ 200 ​ — Unrecognized tax benefits, end of year ​ $ 732 ​ $ 532 ​ If the $0.7 million of unrecognized tax benefits at December 31, 2019 were recognized, our effective tax rate would be minimally affected. We believe that there will not be a significant increase or decrease to the tax positions within 12 months of the reporting date. We recognize interest and penalties related to unrecognized tax benefits in income tax benefit (expense). We file income tax returns in the U.S. federal jurisdiction, various U.S. state jurisdictions and foreign jurisdictions. We are generally no longer subject to U.S. federal, state and local, or non-U.S. income tax examinations by authorities for years prior to 2016, except for years in which NOLs generated prior to 2016 are utilized. Due to our international structure as well as the existence of international tax treaties that exempt taxation on certain activities, the repatriation of earnings from our subsidiaries would have no tax impact. We derive our income from the international operation of ships. We are engaged in a trade or business in the U.S. and receive income from sources within the U.S. Under Section 883, certain foreign corporations are exempt from U. S. federal income or branch profits tax on U.S.-source income derived from or incidental to the international operation of ships. Applicable U.S. treasury regulations provide that a foreign corporation will qualify for the benefits of Section 883 if, in relevant part: (i) the foreign country in which the corporation is organized grants an equivalent exemption for income from the international operation of ships to corporations organized in the U.S., and (ii) the foreign corporation has one or more classes of stock that are “primarily and regularly traded on an established securities market” in the U.S. or another qualifying country. We believe that we qualify for the benefits of Section 883 because we are incorporated in qualifying countries and our ordinary shares are primarily and regularly traded on an established securities market in the U.S.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2019
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	13. Commitments and Contingencies Ship Construction Contracts For the Norwegian Brand, Project Leonardo will introduce an additional six ships, each approximately 140,000 Gross Tons with approximately 3,300 Berths, with expected delivery dates from 2022 through 2027, subject to certain conditions. The effectiveness of the contracts to construct two of the ships, expected to be delivered in 2026 and 2027, is contingent upon certain Italian government approvals. For the Regent brand, we have an Explorer Class Ship, Seven Seas Splendor, with approximately 55,000 Gross Tons and 750 Berths, which was delivered in January 2020. We refer you to Note 18 – “Subsequent Events” for additional information. We have one additional order for an Explorer Class Ship to be delivered in 2023. For the Oceania Cruises brand, we have orders for two Allura Class Ships to be delivered in 2022 and 2025, one of which is contingent upon certain Italian government approvals. Each of the Allura Class Ships will be approximately 67,000 Gross Tons and 1,200 Berths. The combined contract prices of the 10 ships on order for delivery, including Seven Seas Splendor, which was delivered in January 2020, We have obtained export credit financing for the ships on order which is expected to fund approximately 80% of each contract price, subject to certain conditions. We do not anticipate any contractual breaches or cancellation 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. As of December 31, 2019, minimum annual payments for non-cancelable ship construction contracts with initial or remaining terms in excess of one year were as follows (in thousands): ​ ​ ​ ​ ​ Year Amount 2020 ​ $ 556,784 2021 ​ 279,254 2022 ​ 1,595,262 2023 ​ 1,439,097 2024 ​ 888,790 Thereafter ​ 829,303 Total minimum annual payments ​ $ 5,588,490 ​ Port Facility Commitments As of December 31, 2019, future commitments to pay for usage of certain port facilities were as follows (in thousands): ​ ​ ​ ​ ​ Year Amount 2020 ​ $ 79,418 2021 ​ 67,671 2022 ​ 68,049 2023 ​ 70,100 2024 ​ 75,112 Thereafter ​ 1,726,575 Total port facility future commitments ​ $ 2,086,925 ​ Other Commitments The FMC requires evidence of financial responsibility for those offering transportation on passenger ships operating out of U.S. ports to indemnify passengers in the event of non-performance of the transportation. Accordingly, each of our three brands are required to maintain a $32.0 million third-party performance guarantee in respect of liabilities for non- performance of transportation and other obligations to passengers. The guarantee requirements are subject to additional consumer price index-based adjustments. Also, our brands have a legal requirement to maintain security guarantees based on cruise business originated from the U.K., and we are required to establish financial responsibility by certain jurisdictions to meet liability in the event of non-performance of our obligations to passengers from those jurisdictions. As of December 31, 2019, approximately British Pound Sterling 41.5 million was in place as security guarantees as well as a consumer protection policy covering up to From time to time, various other regulatory and legislative changes have been or may in the future be proposed that may have an effect on our operations in the U.S. and the cruise industry in general. Litigation 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 alleges it holds an interest in the Havana Cruise Port Terminal and the complaint filed by Javier Garcia-Bengochea 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. The plaintiffs seek all available statutory remedies, including the value of the expropriated property, plus interest, treble damages, attorneys’ fees and costs. On January 7, 2020, the United States District Court for the Southern District of Florida dismissed the claim by Havana Docks Corporation. We believe that the plaintiff plans to appeal the order. Although we believe we have meritorious defenses to the claims and intend to vigorously defend these matters, as of December 31, 2019, we are unable to reasonably estimate any potential contingent loss from these matters due to a lack of legal precedence. ​ Other ​ In the normal course of our business, various 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 contingent 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 Income (Expense), Net

Other Income (Expense), Net	12 Months Ended
	Dec. 31, 2019
Other Income and Expenses [Abstract]
Other Income (Expense), Net	14. Other Income (Expense), Net Other income (expense), net was income of $6.2 million, income of $20.7 million, and expense of $10.4 million for the years ended December 31, 2019, 2018 and 2017, respectively. In 2019, the income was primarily due to gains from insurance proceeds and a litigation settlement

Concentration Risk

Concentration Risk	12 Months Ended
	Dec. 31, 2019
Risks and Uncertainties [Abstract]
Concentration Risk	15. Concentration Risk We contract with a single vendor to provide many of our hotel and restaurant services including both food and labor costs. We incurred expenses of $153.6 million, $153.7 million and $152.3 million for the years ended December 31, 2019, 2018 and 2017, respectively, which are recorded in payroll and related in our consolidated statements of operations.

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	12 Months Ended
	Dec. 31, 2019
Supplemental Cash Flow Elements [Abstract]
Supplemental Cash Flow Information	16. Supplemental Cash Flow Information For the year ended December 31, 2019, we had non-cash investing activities related to property and equipment of $8.2 million. For the year ended December 31, 2019, we paid income taxes of $8.7 million and interest and related fees, net of capitalized interest, of $291.2 million. For the year ended December 31, 2018, we had non-cash investing activities related to property and equipment of $39.7 million and net foreign currency adjustments of $5.5 million related to euro-denominated debt related to the financing of two of our Project Leonardo ships. For the year ended December 31, 2018, we paid income taxes of $10.0 million and interest and related fees, net of capitalized interest, of $350.4 million. For the year ended December 31, 2017, we had non-cash investing activities in connection with property and equipment of $20.0 million and non-cash investing activities related to capital leases of $13.3 million. For the year ended December 31, 2017, we paid income taxes of $11.7 million and interest and related fees, net of capitalized interest, of $284.9 million.

Quarterly Selected Financial Da

Quarterly Selected Financial Data (Unaudited) (in thousands)	12 Months Ended
	Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract]
Quarterly Selected Financial Data (Unaudited) (in thousands)	17. Quarterly Selected Financial Data (Unaudited) (in thousands) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ First Quarter ​ Second Quarter ​ Third Quarter ​ Fourth Quarter ​ 2019 2018 2019 2018 2019 2018 2019 2018 Total revenue ​ $ 1,403,630 ​ $ 1,293,403 ​ $ 1,664,277 ​ $ 1,522,174 ​ $ 1,913,851 ​ $ 1,858,356 ​ $ 1,480,618 ​ $ 1,381,193 Operating income ​ $ 158,904 ​ $ 168,310 ​ $ 309,594 ​ $ 293,022 ​ $ 512,337 ​ $ 551,253 ​ $ 199,878 ​ $ 211,338 Net income ​ $ 119,404 ​ $ 105,383 ​ $ 243,276 ​ $ 229,540 ​ $ 455,309 ​ $ 475,412 ​ $ 123,217 ​ $ 155,855 ​ The seasonality of the North American cruise industry generally results in the greatest demand for cruises during the Northern Hemisphere’s summer months. This predictable seasonality in demand has resulted in fluctuations in our revenue and results of operations. The seasonality of our results is increased due to ships being taken out of service for regularly scheduled Dry-docks, which we typically scheduled during non-peak demand periods.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2019
Subsequent Events [Abstract]
Subsequent Events	18. Subsequent Events In January 2020, we took delivery of Seven Seas Splendor. We had export financing in place for 80% of the contract price. The associated $426.0 million term loan bears interest at a fixed rate of 3.01% with a maturity date of January 30, 2032 . Principal and interest payments are payable semiannually. In late January 2020, the COVID-19 coronavirus outbreak began impacting the Company’s financial performance and operations. The Company has begun to experience costs and lost revenue related to itinerary modifications, travel restrictions and advisories, the unavailability of ports and/or destinations, cancellations and redeployments. The COVID-19 coronavirus is also impacting consumer sentiment regarding cruise travel generally. Due to the unknown duration and extent of the outbreak, the full effect on our financial performance cannot be quantified at this time.

Schedule II Valuation and Quali

Schedule II Valuation and Qualifying Accounts	12 Months Ended
	Dec. 31, 2019
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]
Schedule II Valuation and Qualifying Accounts	NCL Corporation Ltd. Schedule II Valuation and Qualifying Accounts (in thousands) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Additions ​ ​ ​ ​ ​ ​ ​ ​ ​ Charged to ​ ​ ​ ​ ​ ​ ​ ​ Balance ​ costs and ​ Charged to ​ ​ ​ ​ Balance Description ​ 12/31/16 ​ expenses ​ other accounts ​ Deductions (a) ​ 12/31/17 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Valuation allowance on deferred tax assets ​ $ 64,573 ​ $ — ​ $ — ​ $ (22,419) ​ $ 42,154 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Charged to ​ ​ ​ ​ ​ ​ ​ ​ Balance ​ costs and ​ Charged to ​ ​ ​ ​ Balance Description ​ 12/31/17 ​ expenses ​ other accounts ​ Deductions (a) ​ 12/31/18 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Valuation allowance on deferred tax assets ​ $ 42,154 ​ $ — ​ $ 276 ​ $ (506) ​ $ 41,924 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Charged to ​ ​ ​ ​ ​ ​ ​ ​ Balance ​ costs and ​ Charged to ​ ​ ​ ​ Balance Description ​ 12/31/18 ​ expenses ​ other accounts ​ Deductions (a) ​ 12/31/19 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Valuation allowance on deferred tax assets ​ $ 41,924 ​ $ — ​ $ — ​ $ (36,077) ​ $ 5,847 (a) Amount relates to (i) utilization of deferred tax assets, (ii) revaluation of deferred tax assets from their functional currency to U.S. dollars and (iii) reversal of valuation allowances.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation Our consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America and contain all normal recurring adjustments necessary for a fair presentation of the results for the periods presented. Estimates are required for the preparation of consolidated financial statements in accordance with generally accepted accounting principles and actual results could differ from these estimates. All significant intercompany accounts and transactions are eliminated in consolidation.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents are stated at cost and include cash and investments with original maturities of three months or less at acquisition and also include amounts due from credit card processors.
Accounts Receivable, Net	Accounts Receivable, Net Accounts receivable are shown net of an allowance for doubtful accounts of $10.6 million and $9.6 million as of December 31, 2019 and 2018, respectively.
Inventories	Inventories Inventories mainly consist of provisions, supplies and fuel and are carried at the lower of cost or net realizable value using the first-in, first-out method of accounting.
Advertising Costs	Advertising Costs Advertising costs are expensed as incurred except for those that result in tangible assets, including brochures, which are treated as prepaid expenses and charged to expense as consumed. Advertising costs of $5.9 million and $0.8 million as of December 31, 2019 and 2018, respectively, are included in prepaid expenses and other assets. Expenses related to advertising costs totaled $400.6 million, $327.3 million and $289.1 million for the years ended December 31, 2019, 2018 and 2017, respectively.
Property and Equipment, Net	Property and Equipment, Net Property and equipment are recorded at cost. Ship improvement costs that we believe add value to our ships are capitalized to the ship and depreciated over the shorter of the improvements’ estimated useful lives or the remaining useful life of the ship while costs of repairs and maintenance, including Dry-dock costs, are charged to expense as incurred. During ship construction, certain interest is capitalized as a cost of the ship. Gains or losses on the sale of property and equipment are recorded as a component of operating income (expense) in our consolidated statements of operations. The useful lives of ship improvements are estimated based on the economic lives of the new components. In addition, to determine the useful lives of the ship or ship components, we consider the impact of the historical useful lives of similar assets, manufacturer recommended lives and anticipated changes in technological conditions. Depreciation is computed on a straight-line basis over the estimated useful lives of the assets, after a 15% reduction for the estimated residual values of ships as follows: ​ ​ ​ ​ ​ Useful Life Ships 30 years Computer hardware and software 3 Other property and equipment 3 Leasehold improvements Shorter of lease term or asset life Ship improvements Shorter of asset life or life of the ship ​ Long-lived assets are reviewed for impairment, based on estimated future undiscounted cash flows, whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Assets are grouped and evaluated at the lowest level for which there are identifiable cash flows that are largely independent of the cash flows of other groups of assets. We consider historical performance and future estimated results in our evaluation of potential impairment and then compare the carrying amount of the asset to the estimated future cash flows expected to result from the use of the asset. If the carrying amount of the asset exceeds estimated expected undiscounted future cash flows, we measure the amount of the impairment by comparing the carrying amount of the asset to its fair value. We estimate fair value based on the best information available utilizing estimates, judgments and projections as necessary. Our estimate of fair value is generally measured by discounting expected future cash flows at discount rates commensurate with the associated risk.
Goodwill and Tradenames	Goodwill and Tradenames Goodwill represents the excess of cost over the fair value of net assets acquired. Goodwill and other indefinite-lived assets, principally tradenames, are reviewed for impairment on an annual basis or earlier if there is an event or change in circumstances that would indicate that the carrying value of these assets may not be fully recoverable. We use the Step 0 Test which allows us to first assess qualitative factors to determine whether it is more likely than not (i.e., more than 50%) that the fair value of a reporting unit is less than its carrying value. For tradenames we also provide a qualitative assessment to determine if there is any indication of impairment. In order to make this evaluation, we consider the following circumstances as well as others: ● Changes in general macroeconomic conditions such as a deterioration in general economic conditions; limitations on accessing capital; fluctuations in foreign exchange rates; or other developments in equity and credit markets; ● Changes in industry and market conditions such as a deterioration in the environment in which an entity operates; an increased competitive environment; a decline in market-dependent multiples or metrics (in both absolute terms and relative to peers); a change in the market for an entity’s products or services; or a regulatory or political development; ● Changes in cost factors that have a negative effect on earnings and cash flows; ● Decline in overall financial performance (for both actual and expected performance); ● Entity and reporting unit specific events such as changes in management, key personnel, strategy, or customers; litigation; or a change in the composition or carrying amount of net assets; and ● Decline in share price (in both absolute terms and relative to peers). We also may conduct a quantitative assessment comparing the fair value of each reporting unit to its carrying value, including goodwill. This is called the Step I Test which consists of a combined approach using discounted future cash flows and market multiples to determine the fair value of the reporting units. The market approach considers revenue and EBITDA multiples from an appropriate peer group. Our discounted cash flow valuation reflects our principal assumptions of 1) forecasted future operating results and growth rates, 2) forecasted capital expenditures for fleet growth and ship improvements and 3) a weighted average cost of capital of market participants, adjusted for an optimal capital structure. We believe that the combined approach is the most representative method to assess fair value as it utilizes expectations of long-term growth as well as current market conditions. For the tradenames, we may also use a quantitative assessment, which utilizes the relief from royalty method and includes the same forecasts and discount rates from the discounted cash flow valuation in the goodwill assessment along with a tradename royalty rate assumption. ​ We have concluded that our business has three reporting units. Each brand, Oceania Cruises, Regent Seven Seas and Norwegian, constitutes a business for which discrete financial information is available and management regularly reviews the operating results and, therefore, each brand is considered an operating segment. As of December 31, 2019, there was $523.0 million, $462.1 million and $403.8 million of goodwill for the Oceania Cruises, Regent Seven Seas and Norwegian reporting units, respectively. For our 2019 annual goodwill and tradename impairment evaluation, we elected to perform quantitative tests for the Oceania Cruises, Regent Seven Seas and Norwegian reporting units. Based on the results of the tests, we determined there was no impairment of goodwill or tradenames
Revenue and Expense Recognition	Revenue and Expense Recognition Deposits on advance ticket sales are deferred when received and are subsequently recognized as revenue ratably during the voyage sailing days as services are rendered over time on the ship. Cancellation fees are recognized in passenger ticket revenue in the month of the cancellation. Goods and services associated with onboard revenue are generally provided at a point in time and revenue is recognized when the performance obligation is satisfied. A receivable is recognized for onboard goods and services rendered when the voyage is not completed before the end of the period. All associated direct costs of a voyage are recognized as incurred in cruise operating expenses.
Disaggregation of Revenue	Disaggregation of Revenue Revenue and cash flows are affected by economic factors in various geographical regions. Revenues by destination consisted of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ 2019 2018 ​ 2017 North America ​ $ 3,807,576 ​ $ 3,543,282 ​ $ 3,285,903 Europe ​ 1,666,751 ​ 1,462,698 ​ 1,347,381 Asia-Pacific ​ 500,842 ​ 721,404 ​ 394,631 Other ​ 487,207 ​ 327,742 ​ 368,260 Total revenue ​ $ 6,462,376 ​ $ 6,055,126 ​ $ 5,396,175 ​
Segment Reporting	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 was 81%, 77% and 77% for the years ended December 31, 2019, 2018 and 2017, respectively. No other individual country’s revenues exceeded 10% in any of our last three years. Substantially all of our long-lived assets are located outside of the U.S. and consist primarily of our ships. We had 19 ships with Bahamas registry with a carrying value of $10.2 billion as of December 31, 2019 and 18 ships with Bahamas registry with a carrying value of $9.1 billion as of December 31, 2018. We had seven ships with Marshall Island registry with a carrying value of $1.9 billion as of December 31, 2019 and 2018. We also had one ship with U.S. registry with a carrying value of $0.3 billion as of December 31, 2019 and 2018.
Debt Issuance Costs	Debt Issuance Costs Debt issuance costs related to a recognized debt liability are presented in the consolidated balance sheets as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. For line of credit arrangements and for those debt facilities not fully drawn we defer and present debt issuance costs as an asset. These deferred issuance costs are amortized over the life of the loan. 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 it is included in interest expense, net.
Foreign Currency	Foreign Currency The majority of our transactions are settled in U.S. dollars. Gains or losses resulting from transactions denominated in other currencies are recognized in other income (expense), net at each balance sheet date. We recognized a loss of $7.0 million, a gain of $19.8 million and a loss of $14.2 million for the years ended December 31, 2019, 2018 and 2017, respectively.
Derivative Instruments and Hedging Activity	Derivative Instruments and Hedging Activity We enter into derivative contracts to reduce our exposure to fluctuations in foreign currency exchange rates, interest rates and fuel prices. The criteria used to determine whether a transaction qualifies for hedge accounting treatment includes the correlation between fluctuations in the fair value of the hedged item and the fair value of the related derivative instrument and its effectiveness as a hedge. As the derivative is marked to fair value, we elected an accounting policy to net the fair value of our derivatives when a master netting arrangement exists with our counterparties. A derivative instrument that hedges a forecasted transaction or the variability of cash flows related to a recognized asset or liability may be designated as a cash flow hedge. Changes in fair value of derivative instruments that are designated as cash flow hedges are recorded as a component of accumulated other comprehensive income (loss) until the underlying hedged transactions are recognized in earnings. To the extent that an instrument is not effective as a hedge, gains and losses are recognized in other income (expense), net in our consolidated statements of operations. Realized gains and losses related to our effective fuel hedges are recognized in fuel expense. For presentation in our consolidated statements of cash flows, we have elected to classify the cash flows from our cash flow hedges in the same category as the cash flows from the items being hedged.
Concentrations of Credit Risk	Concentrations of Credit Risk 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 derivative instruments, our Revolving Loan Facility and new ship progress payment guarantees, is not considered significant, as we primarily conduct business with large, well-established financial institutions and insurance companies that we have well-established relationships with and that have credit risks acceptable to us or the credit risk is spread out among a large number of creditors. We do not anticipate non-performance by any of our significant counterparties.
Insurance	Insurance We use a combination of insurance and self-insurance for a number of risks including claims related to crew and guests, hull and machinery, war risk, workers’ compensation, property damage, employee healthcare and general liability. Liabilities associated with certain of these risks, including crew and passenger claims, are estimated actuarially based upon known facts, historical trends and a reasonable estimate of future expenses. While we believe these accruals are adequate, the ultimate losses incurred may differ from those recorded.
Income Taxes	Income Taxes Deferred tax assets and liabilities are calculated in accordance with the liability method. Deferred taxes are recorded using the currently enacted tax rates that apply in the periods that the differences are expected to reverse. Deferred taxes are not discounted. We provide a valuation allowance on deferred tax assets when it is more likely than not that such assets will not be realized. With respect to acquired deferred tax assets, changes within the measurement period that result from new information about facts and circumstances that existed at the acquisition date shall be recognized through a corresponding adjustment to goodwill. Subsequent to the measurement period, all other changes shall be reported as a reduction or increase to income tax expense in our consolidated statements of operations.
Share-Based Compensation	Share-Based Compensation We recognize expense for our share-based compensation awards using a fair-value-based method. Share-based compensation expense is recognized over the requisite service period for awards that are based on a service period and not contingent upon any future performance. We refer you to Note 11— “Employee Benefits and Share-Based Compensation.”
Recently Issued Accounting Guidance	Recently Issued Accounting Guidance In January 2017, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2017-04, Intangibles—Goodwill and Other (Topic 350) — Simplifying the Test for Goodwill Impairment, In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
Schedule of estimated residual values of ships	​ ​ ​ ​ ​ Useful Life Ships 30 years Computer hardware and software 3 Other property and equipment 3 Leasehold improvements Shorter of lease term or asset life Ship improvements Shorter of asset life or life of the ship ​
Schedule of revenues by destination	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ 2019 2018 ​ 2017 North America ​ $ 3,807,576 ​ $ 3,543,282 ​ $ 3,285,903 Europe ​ 1,666,751 ​ 1,462,698 ​ 1,347,381 Asia-Pacific ​ 500,842 ​ 721,404 ​ 394,631 Other ​ 487,207 ​ 327,742 ​ 368,260 Total revenue ​ $ 6,462,376 ​ $ 6,055,126 ​ $ 5,396,175 ​

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2019
Goodwill And Intangible Assets Disclosure [Abstract]
Schedule of gross carrying amounts included within goodwill and intangible assets, related accumulated amortization and the weighted-average amortization periods of intangible assets	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2019 ​ ​ ​ ​ ​ ​ ​ Weighted- ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Average ​ ​ Gross Carrying ​ Accumulated ​ Net Carrying ​ Amortization ​ ​ Amount ​ Amortization ​ Amount Period (Years) Customer relationships ​ $ 120,000 ​ $ (110,169) ​ $ 9,831 6.0 License ​ 750 ​ (331) ​ 419 10.0 Total intangible assets subject to amortization ​ $ 120,750 ​ $ (110,500) ​ $ 10,250 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2018 ​ ​ ​ ​ ​ ​ ​ Weighted- ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Average ​ ​ Gross Carrying ​ Accumulated ​ Net Carrying ​ Amortization ​ ​ Amount ​ Amortization ​ Amount Period (Years) Customer relationships ​ $ 120,000 ​ $ (91,756) ​ $ 28,244 6.0 Licenses ​ 3,368 ​ (2,874) ​ 494 5.6 Total intangible assets subject to amortization ​ $ 123,368 ​ $ (94,630) ​ $ 28,738 ​
Schedule of aggregate amortization expense for intangible assets	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ 2019 2018 ​ 2017 Amortization expense ​ $ 18,488 ​ $ 26,163 ​ $ 31,232 ​
Schedule of estimated aggregate amortization expense	​ ​ ​ ​ ​ ​ Amortization Year ended December 31, ​ Expense 2020 ​ $ 9,906 2021 ​ ​ 75 2022 ​ ​ 75 2023 ​ ​ 75 2024 ​ ​ 75

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2019
Leases [Abstract]
Schedule of components of lease expense and revenue	​ ​ ​ ​ ​ ​ ​ Year Ended ​ December 31, 2019 Operating lease expense $ 31,596 Variable lease expense ​ 14,284 Short-term lease expense ​ 50,832 Finance lease cost: ​ ​ ​ Amortization of right-to-use assets ​ 1,765 Interest on lease liabilities ​ 1,239 Operating lease revenue ​ 446 Sublease income ​ 1,615
Schedule of lease balances	​ ​ ​ ​ ​ ​ ​ ​ Balance Sheet location December 31, 2019 Operating leases ​ ​ ​ ​ ​ Right-of-use assets Other long-term assets $ 236,604 Current operating lease liabilities Accrued expenses and other liabilities ​ 39,126 Non-current operating lease liabilities Other long-term liabilities ​ 207,243 ​ ​ ​ ​ ​ ​ Finance leases ​ ​ ​ ​ ​ Right-of-use assets Property and equipment, net ​ 13,873 Current finance lease liabilities Current portion of long-term debt ​ 6,419 Non-current finance lease liabilities Long-term debt ​ 8,812
Schedule of supplemental cash flow information related to leases	​ ​ ​ ​ ​ ​ ​ Year Ended ​ December 31, 2019 Cash paid for amounts included in the measurement of lease liabilities: ​ ​ ​ Operating cash outflows from operating leases $ 75,539 Operating cash outflows from finance leases ​ 1,051 Financing cash outflows from finance leases ​ 2,826 ​ ​ ​ ​ Right-of-use assets obtained in exchange for lease obligations: ​ ​ ​ Operating leases ​ 24,834 Finance leases ​ ​ 705
Schedule of maturities of lease liabilities, weighted-average remaining lease terms and discount rates for leases	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating ​ Finance ​ leases leases 2020 $ 47,796 ​ $ 6,141 ​ 2021 ​ ​ 32,144 ​ 4,912 ​ 2022 ​ ​ 31,844 ​ 3,957 ​ 2023 ​ ​ 31,740 ​ 730 ​ 2024 ​ ​ 31,753 ​ 677 ​ Thereafter ​ ​ 112,718 ​ 629 ​ Total ​ ​ 287,995 ​ ​ 17,046 ​ Less: Present value discount ​ ​ (41,626) ​ ​ (1,815) ​ Present value of lease liabilities $ 246,369 ​ $ 15,231 ​ Weighted average remaining lease term (years) ​ ​ 8.30 ​ 3.65 ​ Weighted average discount rate ​ ​ 3.76 % 7.47 %
Schedule of minimum annual rentals for non-cancelable contracts	​ ​ ​ ​ ​ Year December 31, 2018 2019 ​ $ 16,651 2020 ​ 16,105 2021 ​ 15,315 2022 ​ 14,391 2023 ​ 13,462 Thereafter ​ 52,626 Total minimum annual rentals ​ $ 128,550

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	12 Months Ended
	Dec. 31, 2019
Statement Of Income And Comprehensive Income [Abstract]
Schedule of accumulated other comprehensive income (loss)	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, 2019 ​ ​ ​ ​ ​ 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 ​ $ (163,360) ​ $ (158,096) $ (5,264) Current period other comprehensive loss before reclassifications ​ (125,323) ​ (123,015) (2,308) Amounts reclassified into earnings ​ (8,520) ​ (8,898) (1) 378 (2) Accumulated other comprehensive income (loss) at end of period ​ $ (297,203) ​ $ (290,009) (3) $ (7,194) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, 2018 ​ ​ ​ ​ ​ 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 ​ $ 25,253 ​ $ 33,214 ​ $ (7,961) ​ Current period other comprehensive income (loss) before reclassifications ​ (158,943) ​ (161,214) 2,271 ​ Amounts reclassified into earnings ​ (29,670) ​ (30,096) (1) 426 (2) Accumulated other comprehensive income (loss) at end of period ​ $ (163,360) ​ $ (158,096) $ (5,264) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, 2017 ​ ​ ​ ​ ​ 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 ​ $ (316,186) ​ $ (308,265) $ (7,921) Current period other comprehensive income (loss) before reclassifications ​ 304,226 ​ 304,684 (458) Amounts reclassified into earnings ​ 37,213 ​ 36,795 (1) 418 (4) Accumulated other comprehensive income (loss) at end of period ​ $ 25,253 ​ $ 33,214 $ (7,961) (1) We refer you to Note 10— “Fair Value Measurements and Derivatives” in these notes to consolidated financial statements 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 $16.5 million of loss expected to be reclassified into earnings in the next 12 months. (4) Amortization of prior-service cost and actuarial loss reclassified to payroll and related expense.

Property and Equipment, Net (Ta

Property and Equipment, Net (Tables)	12 Months Ended
	Dec. 31, 2019
Property, Plant and Equipment [Abstract]
Schedule of property and equipment, net	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ 2019 2018 Ships ​ $ 14,154,578 ​ $ 13,032,555 Ships improvements ​ 1,865,272 ​ 1,407,989 Ships under construction ​ 387,749 ​ 491,632 Land and land improvements ​ 38,375 ​ 34,936 Other ​ 672,975 ​ 558,052 ​ ​ 17,118,949 ​ 15,525,164 Less: accumulated depreciation ​ (3,983,612) ​ (3,405,911) Property and equipment, net ​ $ 13,135,337 ​ $ 12,119,253

Long-Term Debt (Tables)

Long-Term Debt (Tables)	12 Months Ended
	Dec. 31, 2019
Debt Disclosure [Abstract]
Schedule of long-term debt	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest Rate ​ ​ ​ Balance ​ ​ December 31, ​ Maturities ​ December 31, ​ 2019 2018 Through 2019 2018 ​ ​ ​ ​ ​ ​ ​ ​ (in thousands) $875.0 million senior secured revolving credit facility — ​ 3.96 % 2024 ​ $ — ​ $ 130,000 $75.0 million revolving credit line ​ 2.75 % — ​ 2020 ​ ​ 75,000 ​ ​ — Term Loan A 3.06 % 4.01 % 2024 ​ 1,565,512 ​ 1,256,167 $375.0 million Term Loan B (1) — ​ 4.26 % 2021 ​ — ​ 368,982 $700.0 million 4.750% senior unsecured notes — ​ 4.75 % 2021 ​ — ​ 561,021 $565.0 million 3.625% senior unsecured notes ​ 3.63 % — ​ 2024 ​ ​ 558,781 ​ ​ — €662.9 million Norwegian Epic term loan (2) — ​ 4.58 % 2022 ​ — ​ 259,394 $260 million Norwegian Jewel term loan 2.54 % — ​ 2022 ​ 221,860 ​ — $230 million Pride of America term loan ​ 2.81 % — ​ 2021 ​ ​ 229,621 ​ ​ — €529.8 million Breakaway one loan (2) 2.84 % 4.09 % 2025 ​ 305,969 ​ 360,680 €529.8 million Breakaway two loan (2) 4.10 % 4.50 % 2026 ​ 370,531 ​ 426,503 €590.5 million Breakaway three loan (2) 2.98 % 2.98 % 2027 ​ 478,665 ​ 537,223 €729.9 million Breakaway four loan (2) 2.98 % 2.98 % 2029 ​ 630,088 ​ 694,536 €710.8 million Seahawk 1 term loan (2) 3.92 % 3.92 % 2030 ​ 692,150 ​ 756,061 €748.7 million Seahawk 2 term loan (2) 3.92 % 3.92 % 2031 ​ 856,188 ​ 187,612 Leonardo newbuild one loan 2.68 % 2.68 % 2034 ​ 48,009 ​ 48,009 Leonardo newbuild two loan 2.77 % 2.77 % 2035 ​ 48,009 ​ 48,009 Leonardo newbuild three loan 1.22 % 1.22 % 2036 ​ 42,700 ​ 43,667 Leonardo newbuild four loan 1.31 % 1.31 % 2037 ​ 42,700 ​ 43,667 Sirena loan — ​ 2.75 % 2019 ​ — ​ 13,856 Explorer newbuild loan 3.43 % 3.43 % 2028 ​ 242,449 ​ 268,970 Marina newbuild loan (3) 2.75 % 3.07 % 2023 ​ 156,319 ​ 201,007 Riviera newbuild loan (4) 2.48 % 3.32 % 2024 ​ 202,233 ​ 247,203 Finance lease and license obligations Various Various 2028 ​ 34,909 ​ 39,524 Total debt ​ 6,801,693 ​ 6,492,091 Less: current portion of long-term debt ​ (746,358) ​ (681,218) Total long-term debt ​ $ 6,055,335 ​ $ 5,810,873 (1) Includes original issue discount of $0.7 million as of December 31, 2018. (2) Currently U.S. dollar-denominated. (3) Includes premium of $0.1 million as of December 31, 2019 and 2018. (4) Includes premium of $0.1 million and $0.2 million as of December 31, 2019 and 2018, respectively.
Schedule of principal repayments on long-term debt including capital lease obligations	​ ​ ​ ​ ​ Year Amount 2020 ​ $ 746,358 2021 ​ 899,206 2022 ​ 667,456 2023 ​ 574,492 2024 ​ 2,260,295 Thereafter ​ 1,778,870 Total ​ $ 6,926,677

Fair Value Measurements and D_2

Fair Value Measurements and Derivatives (Tables)	12 Months Ended
	Dec. 31, 2019
Fair Value Disclosures [Abstract]
Schedule of derivatives measured at fair value and disclosed by balance sheet location	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Assets ​ Liabilities ​ ​ ​ ​ ​ December 31, ​ December 31, ​ December 31, ​ December 31, ​ ​ Balance Sheet Location 2019 2018 2019 2018 ​ Derivative Contracts Designated as Hedging Instruments ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fuel contracts ​ ​ ​ ​ ​ Prepaid expenses and other assets ​ $ — ​ $ 2,583 ​ $ — ​ $ 1 ​ ​ Other long-term assets ​ 277 ​ 197 ​ — ​ 29 ​ ​ Accrued expenses and other liabilities ​ 2,300 ​ 1,173 ​ 18,257 ​ 19,547 ​ ​ Other long-term liabilities ​ 683 ​ 933 ​ 17,763 ​ 51,184 ​ Foreign currency contracts ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Prepaid expenses and other assets ​ — ​ 5,285 ​ — ​ 1,497 ​ ​ Other long-term assets ​ — ​ 3,514 ​ — ​ — ​ ​ Accrued expenses and other liabilities ​ — ​ 112 ​ 33,475 ​ 5,145 ​ ​ Other long-term liabilities ​ 169 ​ 2,874 ​ 118,500 ​ 40,476 ​ Interest rate contracts ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Prepaid expenses and other assets ​ — ​ 519 ​ — ​ — ​ ​ Other long-term assets ​ — ​ 27 ​ — ​ — ​ ​ Accrued expenses and other liabilities ​ — ​ — ​ 2,178 ​ — ​ ​ ​ Other long-term liabilities ​ ​ — ​ ​ — ​ ​ 1,861 ​ ​ — ​ Total derivatives designated as hedging instruments ​ ​ ​ $ 3,429 ​ $ 17,217 ​ $ 192,034 ​ $ 117,879 ​ ​
Schedule of gross and net amounts recognized within assets and liabilities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross ​ ​ Gross ​ ​ ​ ​ Gross ​ Amounts ​ Total Net ​ Amounts ​ ​ ​ December 31, 2019 ​ Amounts ​ Offset ​ Amounts ​ Not Offset ​ Net Amounts Assets ​ $ 277 ​ $ — ​ $ 277 ​ $ — ​ $ 277 Liabilities ​ ​ 192,034 ​ ​ (3,152) ​ ​ 188,882 ​ ​ (149,863) ​ ​ 39,019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross ​ ​ Gross ​ ​ ​ ​ Gross ​ Amounts ​ Total Net ​ Amounts ​ ​ ​ December 31, 2018 ​ Amounts ​ Offset ​ Amounts ​ Not Offset ​ Net Amounts Assets ​ $ 12,125 ​ $ (1,527) ​ $ 10,598 ​ $ (6,872) ​ $ 3,726 Liabilities ​ ​ 116,352 ​ ​ (5,092) ​ ​ 111,260 ​ ​ (35,718) ​ ​ 75,542 ​
Schedule of cash flow hedges included in accumulated other comprehensive income	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 Derivatives ​ Comprehensive Income ​ Income ​ Income (Loss) into Income ​ ​ Year Ended December 31, ​ ​ ​ Year Ended December 31, ​ ​ 2019 2018 2017 ​ ​ ​ 2019 2018 ​ 2017 Fuel contracts ​ $ 46,154 ​ $ (52,949) $ 50,263 ​ Fuel ​ $ 14,093 ​ $ 34,410 ​ $ (29,721) Foreign currency contracts ​ (163,197) ​ (108,911) 254,070 ​ Depreciation and amortization ​ (3,062) ​ (3,463) ​ (4,077) Interest rate contracts ​ (5,972) ​ 646 351 ​ Interest expense, net ​ (2,133) ​ (851) ​ (2,997) Total gain (loss) recognized in other comprehensive income ​ $ (123,015) ​ $ (161,214) $ 304,684 ​ ​ $ 8,898 ​ $ 30,096 ​ $ (36,795)
Schedule of effects of derivatives designated as cash flow hedges	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, 2019 ​ Year Ended December 31, 2018 ​ ​ ​ ​ ​ Depreciation ​ ​ ​ ​ ​ ​ ​ Depreciation ​ ​ ​ ​ ​ ​ ​ ​ and ​ Interest ​ ​ ​ ​ and ​ Interest ​ ​ ​ Fuel Amortization Expense, net Fuel Amortization 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 ​ $ 409,602 ​ $ 646,188 ​ $ 272,867 ​ $ 392,685 ​ $ 561,060 ​ $ 270,404 ​ ​ ​ ​ ​ ​ ​ ​ ​ Amount of gain (loss) reclassified from accumulated other comprehensive income (loss) into income ​ ​ ​ ​ ​ ​ ​ Fuel contracts ​ ​ 14,093 ​ ​ — ​ ​ — ​ ​ 34,410 ​ ​ — ​ ​ — ​ Foreign currency contracts ​ ​ — ​ ​ (3,062) ​ ​ — ​ ​ — ​ ​ (3,463) ​ ​ — ​ Interest rate contracts ​ ​ — ​ ​ — ​ ​ (2,133) ​ ​ — ​ ​ — ​ ​ (851) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, 2017 ​ ​ ​ ​ Depreciation ​ ​ ​ ​ ​ ​ ​ and ​ Interest ​ ​ Fuel ​ Amortization ​ 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 ​ $ 361,032 ​ $ 509,957 ​ $ 267,782 ​ ​ ​ ​ Amount of gain (loss) reclassified from accumulated other comprehensive income (loss) into income ​ ​ ​ Fuel contracts ​ ​ (29,721) ​ ​ — ​ ​ — Foreign currency contracts ​ ​ — ​ ​ (4,077) ​ ​ — Interest rate contracts ​ ​ — ​ ​ — ​ ​ (2,997)

Employee Benefits and Share-B_2

Employee Benefits and Share-Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Schedule of summary of option activity	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted- ​ ​ ​ ​ Number of Share Option Awards ​ Weighted-Average Exercise Price ​ Average ​ Aggregate ​ Time- Performance- Market- Time- Performance- Market- Contractual Intrinsic ​ ​ Based ​ Based ​ Based ​ Based ​ Based ​ Based ​ Term ​ Value ​ ​ Awards ​ Awards ​ Awards ​ Awards ​ Awards ​ Awards ​ (years) ​ (in thousands) Outstanding as of January 1, 2019 5,686,793 410,499 208,333 ​ $ 50.65 ​ $ 45.67 ​ $ 59.43 6.22 ​ $ 13,946 Exercised (636,073) ​ (138,759) — ​ ​ 40.30 ​ ​ 19.00 ​ ​ — ​ Forfeited and cancelled (132,166) ​ (156,251) — ​ ​ 56.13 ​ ​ 59.43 ​ ​ — ​ Outstanding as of December 31, 2019 4,918,554 115,489 208,333 ​ $ 51.84 ​ $ 59.11 ​ $ 59.43 5.42 ​ $ 33,413 Vested and expected to vest as of December 31, 2019 4,918,554 115,489 — ​ $ 51.84 ​ $ 59.11 ​ $ — 5.41 ​ $ 33,413 Exercisable as of December 31, 2019 4,917,721 115,489 — ​ $ 51.84 ​ $ 59.11 ​ $ — 5.41 ​ $ 33,411
Schedule of summary of restricted ordinary share activity	​ ​ ​ ​ ​ ​ ​ ​ Number of ​ ​ ​ ​ Time- ​ Weighted- ​ Based Average Grant ​ Awards ​ Date Fair Value Non-vested as of January 1, 2019 429 ​ $ 58.41 Vested (429) ​ ​ 58.41 Non-vested as of December 31, 2019 — ​ $ —
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, 2019 ​ 2,973,032 ​ $ 53.98 ​ 825,614 ​ $ 56.58 ​ 50,000 ​ $ 59.43 Granted 1,929,495 ​ ​ 55.00 462,282 (1) ​ 55.27 — ​ ​ — Vested (1,430,291) ​ ​ 53.02 (121,000) ​ ​ 56.27 — ​ ​ — Forfeited or expired (226,611) ​ ​ 55.04 (37,500) ​ ​ 56.27 — ​ ​ — Non-vested as of December 31, 2019 3,245,625 ​ $ 54.94 1,129,396 ​ $ 56.09 50,000 ​ $ 59.43 Non-vested and expected to vest as of December 31, 2019 ​ 3,245,625 ​ $ 54.94 483,976 ​ $ 56.61 — ​ $ — (1) Number of performance-based restricted share units included assumes maximum achievement of performance targets.
Schedule of compensation expense recognized for share-based compensation	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, Classification of expense 2019 2018 2017 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Payroll and related (1) ​ $ 17,597 ​ $ 15,629 ​ $ 9,455 Marketing, general and administrative (2) ​ 77,458 ​ 100,354 ​ 77,584 Total share-based compensation expense ​ $ 95,055 ​ $ 115,983 ​ $ 87,039
Schedule of amounts related to the Shipboard Retirement Plan	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of or for the Year Ended December 31, ​ 2019 2018 2017 Pension expense: ​ ​ ​ Service cost ​ $ 2,135 ​ $ 2,167 ​ $ 1,987 Interest cost ​ 1,001 ​ 857 ​ 887 Amortization of prior service cost ​ 378 ​ 378 ​ 378 Amortization of actuarial loss ​ — ​ 51 ​ 40 Total pension expense ​ $ 3,514 ​ $ 3,453 ​ $ 3,292 Change in projected benefit obligation: ​ ​ ​ Projected benefit obligation at beginning of year ​ $ 24,318 ​ $ 24,587 ​ $ 22,605 Service cost ​ 2,135 ​ 2,167 ​ 1,987 Interest cost ​ 1,001 ​ 857 ​ 887 Actuarial gain (loss) ​ 2,308 ​ (2,271) ​ 458 Direct benefit payments ​ (1,067) ​ (1,022) ​ (1,350) Projected benefit obligation at end of year ​ $ 28,695 ​ $ 24,318 ​ $ 24,587 Amounts recognized in the consolidated balance sheets: ​ ​ ​ Projected benefit obligation ​ $ 28,695 ​ $ 24,318 ​ $ 24,587 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the Year Ended December 31, ​ 2019 2018 2017 Amounts recognized in accumulated other comprehensive income (loss): ​ ​ ​ Prior service cost ​ $ (3,781) ​ $ (4,159) ​ $ (4,537) Accumulated actuarial loss ​ (3,413) ​ (1,105) ​ (3,426) Accumulated other comprehensive income (loss) ​ $ (7,194) ​ $ (5,264) ​ $ (7,963)
Schedule of pension benefits expected to be paid in each of the next five years and in aggregate for the five years thereafter	​ ​ ​ ​ ​ Year Amount 2020 ​ $ 922 2021 ​ ​ 949 2022 ​ ​ 1,045 2023 ​ ​ 1,208 2024 ​ ​ 1,340 Next five years ​ ​ 10,585
Performance-Based Option Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Schedule of assumptions used within the option-pricing model	​ ​ ​ ​ ​ ​ ​ 2018 2017 Dividend yield —% ​ —% Expected share price volatility 31.50% - 32.20% ​ 25.97% Risk-free interest rate 2.48% - 2.58% ​ 1.81% Expected term 3.72 - 4.22 years 4.20 years ​

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Schedule of components of net income before income taxes	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ 2019 2018 2017 Bermuda ​ $ — ​ $ — ​ $ — Foreign - Other ​ 914,001 ​ ​ 974,172 ​ ​ 773,269 Net income before income taxes ​ $ 914,001 ​ $ 974,172 ​ $ 773,269 ​
Schedule of components of the provision for income taxes	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ 2019 2018 2017 Current: ​ ​ ​ Bermuda ​ $ — ​ $ — ​ $ — United States ​ 837 ​ (836) ​ 1,026 Foreign - Other ​ (6,294) ​ (5,371) ​ (4,616) Total current: ​ (5,457) ​ (6,207) ​ (3,590) Deferred: ​ ​ ​ Bermuda ​ — ​ — ​ — United States ​ 32,315 ​ (2,001) ​ (11,370) Foreign - Other ​ 347 ​ 226 ​ 486 Total deferred: ​ 32,662 ​ (1,775) ​ (10,884) Income tax benefit (expense) ​ $ 27,205 ​ $ (7,982) ​ $ (14,474) ​
Schedule of reconciliation of income tax expense	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ 2019 2018 2017 Tax at Bermuda statutory rate ​ $ — ​ $ — ​ $ — Foreign income taxes at different rates ​ (9,819) ​ (11,119) ​ (17,978) Tax contingencies ​ (206) ​ (6) ​ 946 Return to provision adjustments ​ 1,538 ​ 3,055 ​ (2,192) Benefit (expense) from change in tax rate ​ (7) ​ 88 ​ 4,750 Valuation allowance ​ 35,699 ​ — ​ — Income tax benefit (expense) ​ $ 27,205 ​ $ (7,982) ​ $ (14,474) ​
Schedule of deferred tax assets and liabilities	​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, ​ 2019 2018 Deferred tax assets: ​ ​ ​ Loss carryforwards ​ $ 54,122 ​ $ 62,909 Other ​ 2,356 ​ 2,013 Valuation allowance ​ (5,847) ​ (41,924) Total net deferred assets ​ 50,631 ​ 22,998 Deferred tax liabilities: ​ ​ Property and equipment ​ (34,724) ​ (32,954) Total deferred tax liabilities ​ (34,724) ​ (32,954) Net deferred tax asset (liability) ​ $ 15,907 ​ $ (9,956) ​
Schedule of reconciliation of the total amounts of unrecognized tax benefits	​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, ​ 2019 2018 Unrecognized tax benefits, beginning of the year ​ $ 532 ​ $ 532 Gross increases in tax positions from prior periods ​ 200 ​ — Unrecognized tax benefits, end of year ​ $ 732 ​ $ 532 ​

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2019
Ship Construction Contracts
Schedule of other commitments	​ ​ ​ ​ ​ Year Amount 2020 ​ $ 556,784 2021 ​ 279,254 2022 ​ 1,595,262 2023 ​ 1,439,097 2024 ​ 888,790 Thereafter ​ 829,303 Total minimum annual payments ​ $ 5,588,490 ​
Port Facility Commitments
Schedule of other commitments	​ ​ ​ ​ ​ Year Amount 2020 ​ $ 79,418 2021 ​ 67,671 2022 ​ 68,049 2023 ​ 70,100 2024 ​ 75,112 Thereafter ​ 1,726,575 Total port facility future commitments ​ $ 2,086,925

Quarterly Selected Financial _2

Quarterly Selected Financial Data (Unaudited) (in thousands) (Tables)	12 Months Ended
	Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract]
Schedule of quarterly financial information	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ First Quarter ​ Second Quarter ​ Third Quarter ​ Fourth Quarter ​ 2019 2018 2019 2018 2019 2018 2019 2018 Total revenue ​ $ 1,403,630 ​ $ 1,293,403 ​ $ 1,664,277 ​ $ 1,522,174 ​ $ 1,913,851 ​ $ 1,858,356 ​ $ 1,480,618 ​ $ 1,381,193 Operating income ​ $ 158,904 ​ $ 168,310 ​ $ 309,594 ​ $ 293,022 ​ $ 512,337 ​ $ 551,253 ​ $ 199,878 ​ $ 211,338 Net income ​ $ 119,404 ​ $ 105,383 ​ $ 243,276 ​ $ 229,540 ​ $ 455,309 ​ $ 475,412 ​ $ 123,217 ​ $ 155,855

Description of Business and O_2

Description of Business and Organization (Textuals) (Details)	Dec. 31, 2019item
Description Of Business And Organization [Line Items]
Number of cruise ships	27
Capacity of ship, berths	58,400
Number of additional ships	10
Ship to be delivered in 2023
Description Of Business And Organization [Line Items]
Number of additional ships	1
Ships launching period in winter of 2022 through spring of 2025
Description Of Business And Organization [Line Items]
Number of additional ships	2
Ships launching period in 2027
Description Of Business And Organization [Line Items]
Number of additional ships	10
Increased number of berths	82,000
Ships launching period in 2027 | Project Leonardo
Description Of Business And Organization [Line Items]
Number of additional ships	6

Description of Business and O_3

Description of Business and Organization 1 (Textuals) (Details) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended
	Jan. 31, 2013	Feb. 28, 2011	Dec. 31, 2019	Dec. 31, 2018
Description Of Business And Organization [Line Items]
Ordinary shares, par value (in dollars per share)			$ 0.0012	$ 0.0012
NCLH
Description Of Business And Organization [Line Items]
Number of ordinary shares issued (in shares)		10,000
Ordinary shares, par value (in dollars per share)		$ 0.001
NCLH | IPO
Description Of Business And Organization [Line Items]
Ordinary shares ownership percentage	100.00%
Contribution to NCLC	$ 460

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Estimated Useful Lives of Assets (Details)	12 Months Ended
	Dec. 31, 2019
Ships
Property, Plant and Equipment [Line Items]
Property plant and equipment, useful life	30 years
Computer hardware and software | Minimum
Property, Plant and Equipment [Line Items]
Property plant and equipment, useful life	3 years
Computer hardware and software | Maximum
Property, Plant and Equipment [Line Items]
Property plant and equipment, useful life	10 years
Other property and equipment | Minimum
Property, Plant and Equipment [Line Items]
Property plant and equipment, useful life	3 years
Other property and equipment | Maximum
Property, Plant and Equipment [Line Items]
Property plant and equipment, useful life	40 years
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property plant and equipment, useful life	Shorter of lease term or asset life
Ship improvements
Property, Plant and Equipment [Line Items]
Property plant and equipment, useful life	Shorter of asset life or life of the ship

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Revenues by Destination (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Schedule Of Significant Accounting Policies [Line Items]
Total revenue	$ 1,480,618	$ 1,913,851	$ 1,664,277	$ 1,403,630	$ 1,381,193	$ 1,858,356	$ 1,522,174	$ 1,293,403	$ 6,462,376	$ 6,055,126	$ 5,396,175
North America
Schedule Of Significant Accounting Policies [Line Items]
Total revenue									3,807,576	3,543,282	3,285,903
Europe
Schedule Of Significant Accounting Policies [Line Items]
Total revenue									1,666,751	1,462,698	1,347,381
Asia-Pacific
Schedule Of Significant Accounting Policies [Line Items]
Total revenue									500,842	721,404	394,631
Other
Schedule Of Significant Accounting Policies [Line Items]
Total revenue									$ 487,207	$ 327,742	$ 368,260

Summary of Significant Accoun_6

Summary of Significant Accounting Policies (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)itemsegment	Dec. 31, 2018USD ($)item	Dec. 31, 2017USD ($)
Schedule Of Significant Accounting Policies [Line Items]
Number of reporting units | item	3
Goodwill	$ 1,388,931	$ 1,388,931
Impairment of goodwill	0
Impairment of tradenames	$ 0
Number of cruise ships | item	27
Property and equipment, net	$ 13,135,337	12,119,253
Allowance for doubtful accounts receivable	10,600	9,600
Advertising costs included in prepaid expenses and other assets	5,900	800
Expenses related to advertising costs	$ 400,600	327,300	$ 289,100
Reduction in estimated residual values, percentage	15.00%
Foreign currency transaction (gains) loss	$ 7,000	$ 19,800	$ 14,200
Number of reportable segments | segment	1
Oceania Cruises
Schedule Of Significant Accounting Policies [Line Items]
Goodwill	$ 523,000
Regent
Schedule Of Significant Accounting Policies [Line Items]
Goodwill	462,100
Norwegian
Schedule Of Significant Accounting Policies [Line Items]
Goodwill	$ 403,800
Bahamas registry | Ships
Schedule Of Significant Accounting Policies [Line Items]
Number of cruise ships | item	19	18
Property and equipment, net	$ 10,200,000	$ 9,100,000
Marshall Island registry | Ships
Schedule Of Significant Accounting Policies [Line Items]
Number of cruise ships | item	7	7
Property and equipment, net	$ 1,900,000	$ 1,900,000
United States | Ships
Schedule Of Significant Accounting Policies [Line Items]
Number of cruise ships | item	1	1
Property and equipment, net	$ 300,000	$ 300,000
Revenue
Schedule Of Significant Accounting Policies [Line Items]
Concentration risk, benchmark	No other individual country’s revenues exceeded 10% in any of our last three years.	No other individual country’s revenues exceeded 10% in any of our last three years.	No other individual country’s revenues exceeded 10% in any of our last three years.
Revenue | United States | Passenger ticket
Schedule Of Significant Accounting Policies [Line Items]
Percentage of revenue attributable to U.S.- sourced passengers	81.00%	77.00%	77.00%

Revenue and Expense from Cont_2

Revenue and Expense from Contracts with Customers (Details) $ in Millions	Oct. 30, 2019item	Dec. 31, 2019USD ($)item	Dec. 31, 2018USD ($)
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Capacity of ship, berths | item		58,400
Receivables from customers included in accounts receivables, net		$ 15.3	$ 17.3
Contract costs incurred to obtain customers		143.5	116.3
Contract costs to fulfill contracts with customers		$ 49.7	32.5
Percentage of refundable amounts included within contract liabilities.		55.00%
Contract liabilities included within advance ticket sales		$ 1,400	$ 1,200
Contract liability balance recognized in revenue		$ 1,200
Norwegian Encore
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Capacity of ship, berths | item	4,000
Percentage of capacity to fleet	7.00%

Revenue and Expense from Cont_3

Revenue and Expense from Contracts with Customers 1 (Details)	Dec. 31, 2019
Minimum | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-05-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	120 days
Maximum | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	180 days

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Finite-Lived Intangible Assets [Line Items]
Intangible assets subject to amortization, Gross Carrying Amount	$ 120,750	$ 123,368
Intangible assets subject to amortization, Accumulated Amortization	(110,500)	(94,630)
Intangible assets subject to amortization, Net Carrying Amount	10,250	28,738
Customer relationship
Finite-Lived Intangible Assets [Line Items]
Intangible assets subject to amortization, Gross Carrying Amount	120,000	120,000
Intangible assets subject to amortization, Accumulated Amortization	(110,169)	(91,756)
Intangible assets subject to amortization, Net Carrying Amount	$ 9,831	$ 28,244
Weighted-Average Amortization Period (Years)	6 years	6 years
Licenses
Finite-Lived Intangible Assets [Line Items]
Intangible assets subject to amortization, Gross Carrying Amount	$ 750	$ 3,368
Intangible assets subject to amortization, Accumulated Amortization	(331)	(2,874)
Intangible assets subject to amortization, Net Carrying Amount	$ 419	$ 494
Weighted-Average Amortization Period (Years)	10 years	5 years 7 months 6 days

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets 1 (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Goodwill And Intangible Assets Disclosure [Abstract]
Amortization expense	$ 18,488	$ 26,163	$ 31,232

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets 2 (Details) $ in Thousands	Dec. 31, 2019USD ($)
Amortization Expense
2020	$ 9,906
2021	75
2022	75
2023	75
2024	$ 75

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets (Textuals) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Schedule Of Intangible Assets [Line Items]
Goodwill	$ 1,388,931	$ 1,388,931
Tradenames
Schedule Of Intangible Assets [Line Items]
Carrying values	$ 800,000	$ 800,000

Leases (Details)

Leases (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)
Leases [Abstract]
Operating lease expense	$ 31,596
Variable lease expense	14,284
Short-term lease expense	50,832
Finance lease cost:
Amortization of right-to-use assets	1,765
Interest on lease liabilities	1,239
Operating lease revenue	446
Sublease income	$ 1,615

Leases 1 (Details)

Leases 1 (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Jan. 01, 2019
Operating leases
Right-of-use assets		$ 235,000
Other long-term assets
Operating leases
Right-of-use assets	$ 236,604
Accrued expenses and other liabilities
Operating leases
Current operating lease liabilities	39,126
Other long-term liabilities
Operating leases
Non-current operating lease liabilities	207,243
Property and equipment, net
Finance leases
Right-of-use assets	13,873
Current portion of long-term debt
Finance leases
Current finance lease liabilities	6,419
Long-term debt
Finance leases
Non-current finance lease liabilities	$ 8,812

Leases 2 (Details)

Leases 2 (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows from operating leases	$ 75,539
Operating cash outflows from finance leases	1,051
Financing cash outflows from finance leases	2,826
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	24,834
Finance leases	$ 705

Leases 3 (Details)

Leases 3 (Details) $ in Thousands	Dec. 31, 2019USD ($)
Operating leases
2020	$ 47,796
2021	32,144
2022	31,844
2023	31,740
2024	31,753
Thereafter	112,718
Total	287,995
Less: Present value discount	(41,626)
Present value of lease liabilities	$ 246,369
Operating leases, Weighted average remaining lease term (years)	8 years 3 months 18 days
Operating leases, Weighted average discount rate	3.76%
Finance leases
2020	$ 6,141
2021	4,912
2022	3,957
2023	730
2024	677
Thereafter	629
Total	17,046
Less: Present value discount	(1,815)
Present value of lease liabilities	$ 15,231
Finance leases, Weighted average remaining lease term (years)	3 years 7 months 24 days
Finance leases, Weighted average discount rate	7.47%

Leases 4 (Details)

Leases 4 (Details) $ in Thousands	Dec. 31, 2018USD ($)
Leases [Abstract]
2019	$ 16,651
2020	16,105
2021	15,315
2022	14,391
2023	13,462
Thereafter	52,626
Total minimum annual rentals	$ 128,550

Leases (Textuals) (Details)

Leases (Textuals) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Jan. 01, 2019
Lessee, Lease, Description [Line Items]
Operating lease right-of-use assets		$ 235,000
Operating Lease, Liability, Statement of Financial Position [Extensible List]	nclc:AccruedLiabilitiesAndOtherLiabilitiesCurrent us-gaap:OtherLiabilitiesNoncurrent
Operating lease liability	$ 246,369
Reclassification operating right of use assets		8,800
Undiscounted minimum annual guarantees	$ 1,100,000
Lessee, Operating Lease, Existence of Option to Extend [true false]	true
Renewal term	5 years
ASU 2016-02 | Adjustments
Lessee, Lease, Description [Line Items]
Operating lease liability		$ 243,800

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Accumulated other comprehensive income (loss) at beginning of period	$ (163,360)	$ 25,253	$ (316,186)
Current period other comprehensive income (loss) before reclassifications	(125,323)	(158,943)	304,226
Amounts reclassified	(8,520)	(29,670)	37,213
Accumulated other comprehensive income (loss) at end of period	(297,203)	(163,360)	25,253
Change Related to Cash Flow Hedges
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Accumulated other comprehensive income (loss) at beginning of period	(158,096)
Current period other comprehensive income (loss) before reclassifications	(123,015)
Amounts reclassified	(8,898)
Accumulated other comprehensive income (loss) at end of period	(290,009)	(158,096)
Change Related to Cash Flow Hedges
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Accumulated other comprehensive income (loss) at beginning of period	(158,096)	33,214	(308,265)
Current period other comprehensive income (loss) before reclassifications		(161,214)	304,684
Amounts reclassified		(30,096)	36,795
Accumulated other comprehensive income (loss) at end of period		(158,096)	33,214
Change Related to Shipboard Retirement Plan
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Accumulated other comprehensive income (loss) at beginning of period	(5,264)	(7,961)	(7,921)
Current period other comprehensive income (loss) before reclassifications	(2,308)	2,271	(458)
Amounts reclassified	378	426	418
Accumulated other comprehensive income (loss) at end of period	$ (7,194)	$ (5,264)	$ (7,961)

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Income (Loss) (Parentheticals) (Details) $ in Millions	12 Months Ended
	Dec. 31, 2019USD ($)
Statement Of Income And Comprehensive Income [Abstract]
Gain (loss) expected to be reclassified into earnings in next 12 months	$ (16.5)

Property and Equipment, Net (De

Property and Equipment, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Property, Plant and Equipment [Line Items]
Property plant and equipment, gross	$ 17,118,949	$ 15,525,164
Less: accumulated depreciation	(3,983,612)	(3,405,911)
Property and equipment, net	13,135,337	12,119,253
Ships
Property, Plant and Equipment [Line Items]
Property plant and equipment, gross	14,154,578	13,032,555
Ships improvements
Property, Plant and Equipment [Line Items]
Property plant and equipment, gross	1,865,272	1,407,989
Ships under construction
Property, Plant and Equipment [Line Items]
Property plant and equipment, gross	387,749	491,632
Land and land improvements
Property, Plant and Equipment [Line Items]
Property plant and equipment, gross	38,375	34,936
Other property and equipment
Property, Plant and Equipment [Line Items]
Property plant and equipment, gross	$ 672,975	$ 558,052

Property and Equipment, Net (Te

Property and Equipment, Net (Textuals) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Property, Plant and Equipment [Line Items]
Depreciation expense	$ 627.7	$ 534.9	$ 478.7
Repairs and maintenance expenses including Dry-docking expenses	199.7	199.5	157.2
Interest costs associated with construction of ship	32.9	$ 30.4	$ 29
Ships improvements
Property, Plant and Equipment [Line Items]
Costs associated with ship improvements	$ 458.9

Long-Term Debt - Summary of Lon

Long-Term Debt - Summary of Long-Term Debt (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Interest Rate	3.625%
Extended maturity year	2028
Finance lease and license obligations	$ 34,909	$ 39,524
Total debt	6,801,693	6,492,091
Less: current portion of long-term debt	(746,358)	(681,218)
Total long-term debt	$ 6,055,335	$ 5,810,873
$875.0 Million Senior Secured Revolving Credit Facility
Debt Instrument [Line Items]
Interest Rate		3.96%
Extended maturity year	2024
Long-term debt		$ 130,000
$75.0 Million Revolving Credit Line
Debt Instrument [Line Items]
Interest Rate	2.75%
Extended maturity year	2020
Long-term debt	$ 75,000
Term Loan A
Debt Instrument [Line Items]
Interest Rate	3.06%	4.01%
Extended maturity year	2024
Long-term debt	$ 1,565,512	$ 1,256,167
$375.0 Million Term Loan B
Debt Instrument [Line Items]
Interest Rate		4.26%
Extended maturity year	2021
Long-term debt		$ 368,982
$700.0 Million 4.750% Senior Unsecured Notes
Debt Instrument [Line Items]
Interest Rate		4.75%
Extended maturity year	2021
Long-term debt		$ 561,021
$565.0 Million 3.625% Senior Unsecured Notes
Debt Instrument [Line Items]
Interest Rate	3.63%
Extended maturity year	2024
Long-term debt	$ 558,781
EUR 662.9 Million Norwegian Epic Term Loan
Debt Instrument [Line Items]
Interest Rate		4.58%
Extended maturity year	2022
Long-term debt		$ 259,394
$260 million Norwegian Jewel Term Loan
Debt Instrument [Line Items]
Interest Rate	2.54%	0.00%
Extended maturity year	2022
Long-term debt	$ 221,860	$ 0
$230 Million Pride of America Term Loan
Debt Instrument [Line Items]
Interest Rate	2.81%
Extended maturity year	2021
Long-term debt	$ 229,621
EUR 529.8 Million Breakaway One Loan
Debt Instrument [Line Items]
Interest Rate	2.84%	4.09%
Extended maturity year	2025
Long-term debt	$ 305,969	$ 360,680
EUR 529.8 Million Breakaway Two Loan
Debt Instrument [Line Items]
Interest Rate	4.10%	4.50%
Extended maturity year	2026
Long-term debt	$ 370,531	$ 426,503
EUR 590.5 Million Breakaway Three Loan
Debt Instrument [Line Items]
Interest Rate	2.98%	2.98%
Extended maturity year	2027
Long-term debt	$ 478,665	$ 537,223
EUR 729.9 Million Breakaway Four Loan
Debt Instrument [Line Items]
Interest Rate	2.98%	2.98%
Extended maturity year	2029
Long-term debt	$ 630,088	$ 694,536
EUR 710.8 Million Seahawk 1 Term Loan
Debt Instrument [Line Items]
Interest Rate	3.92%	3.92%
Extended maturity year	2030
Long-term debt	$ 692,150	$ 756,061
EUR 748.7 Million Seahawk 2 Term Loan
Debt Instrument [Line Items]
Interest Rate	3.92%	3.92%
Extended maturity year	2031
Long-term debt	$ 856,188	$ 187,612
Leonardo Newbuild One Loan
Debt Instrument [Line Items]
Interest Rate	2.68%	2.68%
Extended maturity year	2034
Long-term debt	$ 48,009	$ 48,009
Leonardo Newbuild Two Loan
Debt Instrument [Line Items]
Interest Rate	2.77%	2.77%
Extended maturity year	2035
Long-term debt	$ 48,009	$ 48,009
Leonardo Newbuild Three Loan
Debt Instrument [Line Items]
Interest Rate	1.22%	1.22%
Extended maturity year	2036
Long-term debt	$ 42,700	$ 43,667
Leonardo Newbuild Four Loan
Debt Instrument [Line Items]
Interest Rate	1.31%	1.31%
Extended maturity year	2037
Long-term debt	$ 42,700	$ 43,667
Sirena Loan
Debt Instrument [Line Items]
Interest Rate		2.75%
Extended maturity year	2019
Long-term debt		$ 13,856
Explorer Newbuild Loan
Debt Instrument [Line Items]
Interest Rate	3.43%	3.43%
Extended maturity year	2028
Long-term debt	$ 242,449	$ 268,970
Marina Newbuild Loan
Debt Instrument [Line Items]
Interest Rate	2.75%	3.07%
Extended maturity year	2023
Long-term debt	$ 156,319	$ 201,007
Riviera Newbuild Loan
Debt Instrument [Line Items]
Interest Rate	2.48%	3.32%
Extended maturity year	2024
Long-term debt	$ 202,233	$ 247,203

Long-Term Debt - Summary of L_2

Long-Term Debt - Summary of Long-Term Debt (Parentheticals) (Details) € in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2019EUR (€)	Dec. 31, 2018EUR (€)	Dec. 31, 2019USD ($)	Oct. 31, 2019USD ($)	Dec. 31, 2018USD ($)
$875.0 Million Senior Secured Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity			$ 875		$ 875
$75.0 Million Revolving Credit Line
Debt Instrument [Line Items]
Maximum borrowing capacity			75	$ 75	75
$375.0 Million Term Loan B
Debt Instrument [Line Items]
Term loan amount			375		375
Original issue discount					0.7
$700.0 Million 4.750% Senior Unsecured Notes
Debt Instrument [Line Items]
Term loan amount			700		700
Interest rate	4.75%	4.75%
$565.0 Million 3.625% Senior Unsecured Notes
Debt Instrument [Line Items]
Term loan amount			565		565
Interest rate	3.625%	3.625%
EUR 662.9 Million Norwegian Epic Term Loan
Debt Instrument [Line Items]
Term loan amount | €	€ 662.9	€ 662.9
$260 million Norwegian Jewel Term Loan
Debt Instrument [Line Items]
Term loan amount			260		260
$230 Million Pride of America Term Loan
Debt Instrument [Line Items]
Term loan amount			230		230
EUR 529.8 Million Breakaway One Loan
Debt Instrument [Line Items]
Term loan amount | €	529.8	529.8
EUR 529.8 Million Breakaway Two Loan
Debt Instrument [Line Items]
Term loan amount | €	529.8	529.8
EUR 590.5 Million Breakaway Three Loan
Debt Instrument [Line Items]
Term loan amount | €	590.5	590.5
EUR 729.9 Million Breakaway Four Loan
Debt Instrument [Line Items]
Term loan amount | €	729.9	729.9
EUR 710.8 Million Seahawk 1 Term Loan
Debt Instrument [Line Items]
Term loan amount | €	710.8	710.8
EUR 748.7 Million Seahawk 2 Term Loan
Debt Instrument [Line Items]
Term loan amount | €	€ 748.7	€ 748.7
Marina Newbuild Loan
Debt Instrument [Line Items]
Net unamortized premium			0.1		0.1
Riviera Newbuild Loan
Debt Instrument [Line Items]
Net unamortized premium			$ 0.1		$ 0.2

Long-Term Debt - Summary of Sch

Long-Term Debt - Summary of Scheduled Principal Repayments on Long-Term Debt Including Capital Lease Obligations (Details) $ in Thousands	Dec. 31, 2019USD ($)
Debt Disclosure [Abstract]
2020	$ 746,358
2021	899,206
2022	667,456
2023	574,492
2024	2,260,295
Thereafter	1,778,870
Total	$ 6,926,677

Long-Term Debt (Textuals) (Deta

Long-Term Debt (Textuals) (Details) $ in Thousands, € in Millions

Dec. 31, 2019EUR (€)

Dec. 16, 2019USD ($)

Oct. 30, 2019USD ($)

May 15, 2019USD ($)

Jan. 10, 2019USD ($)

Jan. 02, 2019USD ($)

Oct. 31, 2019USD ($)

Dec. 31, 2019USD ($)

Dec. 31, 2018USD ($)

Dec. 31, 2017USD ($)

Dec. 31, 2019USD ($)

Dec. 31, 2018EUR (€)

Dec. 31, 2018USD ($)

Debt Instrument [Line Items]

Percentage of principal amount of redeemed

40.00%

Early redemption premium

$ 6,829

$ 5,154

$ 15,506

Interest rate

3.625%

3.625%

Redemption percentage

103.625%

Threshold percentage

60.00%

Interest expense, net

$ 272,900

270,400

267,800

Amortization of deferred financing costs

27,500

31,400

32,500

Loss on extinguishment of debt

13,397

6,346

22,211

Loss on extinguishment of debt

$ 16,700

$ 6,300

$ 23,900

Accrued interest liability

$ 33,300

$ 37,200

Debt Instrument, Redemption, Period One [Member]

Debt Instrument [Line Items]

Redemption percentage

100.00%

Norwegian Encore

Debt Instrument [Line Items]

Export credit facility financing as percentage of contract price

80.00%

Term loan amount

$ 882,900

Interest rate

3.92%

Maturity date

Oct. 30, 2031

Senior Notes due 2021 (the "Notes")

Debt Instrument [Line Items]

Interest rate

4.75%

Redemption amount

$ 565,000

Percentage of principal amount of redeemed

100.00%

Early redemption premium

$ 6,700

Write-off deferred financing fees

$ 2,700

$75.0 Million Revolving Credit Line

Debt Instrument [Line Items]

Revolving credit line amount

$ 75,000

75,000

75,000

Prior principal amount

$ 75,000

Maturity date

October 2020

Line of credit facility, interest rate description

LIBOR plus a margin of 0.95%

Interest rate

2.75%

2.75%

EUR 662.9 Million Norwegian Epic Term Loan

Debt Instrument [Line Items]

Term loan amount | €

€ 662.9

€ 662.9

Prior principal amount

$ 259,394

Interest rate

4.58%

4.58%

Loss on extinguishment of debt

$ 1,100

Nordea Bank ABP | Term Loan

Debt Instrument [Line Items]

Term loan amount

$ 230,000

Bank Of America | Term Loan

Debt Instrument [Line Items]

Term loan amount

$ 260,000

LIBOR | $75.0 Million Revolving Credit Line

Debt Instrument [Line Items]

Basis spread on variable rate

0.95%

LIBOR | Nordea Bank ABP | Term Loan

Debt Instrument [Line Items]

Basis spread on variable rate

1.00%

Maturity date

Jan. 10, 2021

Description of variable rate basis

LIBOR

Basis spread on variable rate after extension of maturity date

1.10%

LIBOR | Bank Of America | Term Loan

Debt Instrument [Line Items]

Basis spread on variable rate

0.80%

Maturity date

May 15, 2022

Description of variable rate basis

LIBOR

Fourth Amended and Restated Credit Agreement

Debt Instrument [Line Items]

Loss on extinguishment of debt

$ (2,900)

Fourth Amended and Restated Credit Agreement | Term Loan

Debt Instrument [Line Items]

Term loan amount

1,600

Prior principal amount

1,300

Fourth Amended and Restated Credit Agreement | Revolving Loan Facility

Debt Instrument [Line Items]

Revolving credit line amount

$ 875,000

Fourth Amended and Restated Credit Agreement | Eurocurrency loans | New Term A Loan Facility and New Revolving Loan Facility

Debt Instrument [Line Items]

Basis spread on variable rate

1.25%

Minimum | Fourth Amended and Restated Credit Agreement | Base rate loans | New Term A Loan Facility and New Revolving Loan Facility

Debt Instrument [Line Items]

Basis spread on variable rate

0.00%

Minimum | Fourth Amended and Restated Credit Agreement | Eurocurrency loans | New Term A Loan Facility and New Revolving Loan Facility

Debt Instrument [Line Items]

Basis spread on variable rate

1.00%

Maximum | Fourth Amended and Restated Credit Agreement | New Term A Loan Facility and New Revolving Loan Facility

Debt Instrument [Line Items]

Commitment fee percentage

0.30%

Maximum | Fourth Amended and Restated Credit Agreement | Base rate loans | New Term A Loan Facility and New Revolving Loan Facility

Debt Instrument [Line Items]

Basis spread on variable rate

0.75%

Maximum | Fourth Amended and Restated Credit Agreement | Eurocurrency loans | New Term A Loan Facility and New Revolving Loan Facility

Debt Instrument [Line Items]

Basis spread on variable rate

1.75%

Related Party Disclosures (Text

Related Party Disclosures (Textuals) (Details) - NCLH - USD ($) $ in Millions	1 Months Ended		12 Months Ended
	Dec. 31, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Genting HK
Related Party Transaction [Line Items]
Amount of dividend paid			$ 341	$ 637.5
Apollo Holders And Genting HK
Related Party Transaction [Line Items]
Stock repurchase, shares	1,683,168	4,722,312
Stock repurchase, value		$ 263.5		85
Apollo Holders And Genting HK | Board of Directors
Related Party Transaction [Line Items]
Stock repurchase program, authorized amount	$ 1,000			$ 1,000
Stock repurchase program, period in force				3 years

Fair Value Measurements and D_3

Fair Value Measurements and Derivatives - Derivatives measured at fair value and discloses balance sheet location (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Derivatives, Fair Value [Line Items]
Derivative assets, fair value	$ 277	$ 12,125
Derivative liabilities, fair value	192,034	116,352
Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Derivative assets, fair value	3,429	17,217
Derivative liabilities, fair value	192,034	117,879
Fuel contracts | Designated as Hedging Instrument | Prepaid expenses and other assets
Derivatives, Fair Value [Line Items]
Derivative assets, fair value		2,583
Derivative liabilities, fair value		1
Fuel contracts | Designated as Hedging Instrument | Other long-term assets
Derivatives, Fair Value [Line Items]
Derivative assets, fair value	277	197
Derivative liabilities, fair value		29
Fuel contracts | Designated as Hedging Instrument | Accrued expenses and other liabilities
Derivatives, Fair Value [Line Items]
Derivative assets, fair value	2,300	1,173
Derivative liabilities, fair value	18,257	19,547
Fuel contracts | Designated as Hedging Instrument | Other long-term liabilities
Derivatives, Fair Value [Line Items]
Derivative assets, fair value	683	933
Derivative liabilities, fair value	17,763	51,184
Foreign currency contracts | Designated as Hedging Instrument | Prepaid expenses and other assets
Derivatives, Fair Value [Line Items]
Derivative assets, fair value		5,285
Derivative liabilities, fair value		1,497
Foreign currency contracts | Designated as Hedging Instrument | Other long-term assets
Derivatives, Fair Value [Line Items]
Derivative assets, fair value		3,514
Foreign currency contracts | Designated as Hedging Instrument | Accrued expenses and other liabilities
Derivatives, Fair Value [Line Items]
Derivative assets, fair value		112
Derivative liabilities, fair value	33,475	5,145
Foreign currency contracts | Designated as Hedging Instrument | Other long-term liabilities
Derivatives, Fair Value [Line Items]
Derivative assets, fair value	169	2,874
Derivative liabilities, fair value	118,500	40,476
Interest rate contracts | Designated as Hedging Instrument | Prepaid expenses and other assets
Derivatives, Fair Value [Line Items]
Derivative assets, fair value		519
Interest rate contracts | Designated as Hedging Instrument | Other long-term assets
Derivatives, Fair Value [Line Items]
Derivative assets, fair value		$ 27
Interest rate contracts | Designated as Hedging Instrument | Accrued expenses and other liabilities
Derivatives, Fair Value [Line Items]
Derivative liabilities, fair value	2,178
Interest rate contracts | Designated as Hedging Instrument | Other long-term liabilities
Derivatives, Fair Value [Line Items]
Derivative liabilities, fair value	$ 1,861

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	Dec. 31, 2019	Dec. 31, 2018
Fair Value Disclosures [Abstract]
Gross Amounts, Assets	$ 277	$ 12,125
Gross Amounts Offset, Assets		(1,527)
Total Net Amounts, Assets	277	10,598
Gross Amounts Not Offset, Assets		(6,872)
Net Amounts, Assets	277	3,726
Gross Amounts, Liabilities	192,034	116,352
Gross Amounts Offset, Liabilities	(3,152)	(5,092)
Total Net Amounts, Liabilities	188,882	111,260
Gross Amount Not Offset, Liabilities	(149,863)	(35,718)
Net Amounts, Liabilities	$ 39,019	$ 75,542

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	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in Other Comprehensive Income	$ (123,015)	$ (161,214)
Amount of Gain (Loss) Recognized in Other Comprehensive Income (before ASU adoption)			$ 304,684
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income	8,898	30,096
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income (before ASU adoption)			(36,795)
Fuel
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income	14,093	34,410
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income (before ASU adoption)			(29,721)
Depreciation and amortization
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income	(3,062)	(3,463)
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income (before ASU adoption)			(4,077)
Interest expense, net
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income	(2,133)	(851)
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income (before ASU adoption)			(2,997)
Fuel contracts
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in Other Comprehensive Income	46,154	(52,949)
Amount of Gain (Loss) Recognized in Other Comprehensive Income (before ASU adoption)			50,263
Fuel contracts | Fuel
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income	14,093
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income (before ASU adoption)		34,410	(29,721)
Foreign currency contracts
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in Other Comprehensive Income	(163,197)	(108,911)
Amount of Gain (Loss) Recognized in Other Comprehensive Income (before ASU adoption)			254,070
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	(3,062)
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income (before ASU adoption)		(3,463)	(4,077)
Interest rate contracts
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in Other Comprehensive Income	(5,972)	646
Amount of Gain (Loss) Recognized in Other Comprehensive Income (before ASU adoption)			351
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	$ (2,133)
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income (before ASU adoption)		$ (851)	$ (2,997)

Fair Value Measurements and D_6

Fair Value Measurements and Derivatives - Effects of cash flow hedge accounting on accumulated other comprehensive income (loss) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Derivative Instruments, Gain (Loss) [Line Items]
Fuel	$ 409,602	$ 392,685	$ 361,032
Depreciation and amortization	646,188	561,060	509,957
Interest expense, net	272,867	270,404	267,782
Cash Flow Hedging
Derivative Instruments, Gain (Loss) [Line Items]
Fuel			361,032
Depreciation and amortization			509,957
Interest expense, net			267,782
Amount of Gain (Loss) Recognized in Other Comprehensive Income	(123,015)	(161,214)
Amount of Gain (Loss) Recognized in Other Comprehensive Income (before ASU adoption)			304,684
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income	8,898	30,096
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income (before ASU adoption)			(36,795)
Cash Flow Hedging | Fuel
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income	14,093	34,410
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income (before ASU adoption)			(29,721)
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	(3,062)	(3,463)
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income (before ASU adoption)			(4,077)
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	(2,133)	(851)
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income (before ASU adoption)			(2,997)
Cash Flow Hedging | Fuel contracts
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in Other Comprehensive Income	46,154	(52,949)
Amount of Gain (Loss) Recognized in Other Comprehensive Income (before ASU adoption)			50,263
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	14,093
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income (before ASU adoption)		34,410	(29,721)
Cash Flow Hedging | Foreign currency contracts
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in Other Comprehensive Income	(163,197)	(108,911)
Amount of Gain (Loss) Recognized in Other Comprehensive Income (before ASU adoption)			254,070
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	(3,062)
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income (before ASU adoption)		(3,463)	(4,077)
Cash Flow Hedging | Interest rate contracts
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in Other Comprehensive Income	(5,972)	646
Amount of Gain (Loss) Recognized in Other Comprehensive Income (before ASU adoption)			351
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	$ (2,133)
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income (before ASU adoption)		$ (851)	$ (2,997)

Fair Value Measurements and D_7

Fair Value Measurements and Derivatives (Textuals) (Details) item in Millions, $ in Millions, € in Billions	12 Months Ended
	Dec. 31, 2019EUR (€)item	Dec. 31, 2019USD ($)item	Dec. 31, 2018USD ($)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of long-term debt		$ 6,957.8	$ 6,601.9
Fair value of long-term debt in excess of carrying value		$ 31.3	$ 8.4
Fuel swaps
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative maturing date	Dec. 31, 2022
Projected fuel purchases | item	1.1	1.1
Interest rate contracts
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notional amount of derivatives		$ 1,700
Foreign currency contracts
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notional amount of derivatives	€ 1.8	$ 2,000

Employee Benefits and Share-B_3

Employee Benefits and Share-Based Compensation - Summary of Assumptions Used Within Option-Pricing Model (Details) - Performance-Based Option Awards	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend yield	0.00%	0.00%
Expected stock price volatility, minimum	31.50%
Expected stock price volatility, maximum	32.20%
Expected stock price volatility		25.97%
Risk-free interest rate, minimum	2.48%
Risk-free interest rate, maximum	2.58%
Risk-free interest rate		1.81%
Expected term		4 years 2 months 12 days
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term	3 years 8 months 19 days
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term	4 years 2 months 19 days

Employee Benefits and Share-B_4

Employee Benefits and Share-Based Compensation - Summary of Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Weighted-Average Contractual Term (Years)
Outstanding as of December 31, 2019	5 years 5 months 1 day	6 years 2 months 19 days
Vested and expected to vest as of December 31, 2019	5 years 4 months 28 days
Exercisable as of December 31, 2019	5 years 4 months 28 days
Aggregate Intrinsic Value
Outstanding as of December 31, 2019	$ 33,413	$ 13,946
Vested and expected to vest as of December 31, 2019	33,413
Exercisable as of December 31, 2019	$ 33,411
Time-Based Option Awards
Number of Share Option Awards
Outstanding as of January 1, 2019	5,686,793
Granted	0	0	0
Exercised	(636,073)
Forfeited and cancelled	(132,166)
Outstanding as of December 31, 2019	4,918,554	5,686,793
Vested and expected to vest as of December 31, 2019	4,918,554
Exercisable as of December 31, 2019	4,917,721
Weighted-Average Exercise Price
Outstanding as of January 1, 2019	$ 50.65
Exercised	40.30
Forfeited and cancelled	56.13
Outstanding as of December 31, 2019	51.84	$ 50.65
Vested and expected to vest as of December 31, 2019	51.84
Exercisable as of December 31, 2019	$ 51.84
Performance-Based Option Awards
Number of Share Option Awards
Outstanding as of January 1, 2019	410,499
Granted	0
Exercised	(138,759)
Forfeited and cancelled	(156,251)
Outstanding as of December 31, 2019	115,489	410,499
Vested and expected to vest as of December 31, 2019	115,489
Exercisable as of December 31, 2019	115,489
Weighted-Average Exercise Price
Outstanding as of January 1, 2019	$ 45.67
Exercised	19
Forfeited and cancelled	59.43
Outstanding as of December 31, 2019	59.11	$ 45.67
Vested and expected to vest as of December 31, 2019	59.11
Exercisable as of December 31, 2019	$ 59.11
Market-Based Opton Awards
Number of Share Option Awards
Outstanding as of January 1, 2019	208,333
Exercised	0
Forfeited and cancelled	0
Outstanding as of December 31, 2019	208,333	208,333
Vested and expected to vest as of December 31, 2019	0
Exercisable as of December 31, 2019	0
Weighted-Average Exercise Price
Outstanding as of January 1, 2019	$ 59.43
Exercised	0
Forfeited and cancelled	0
Outstanding as of December 31, 2019	59.43	$ 59.43
Vested and expected to vest as of December 31, 2019	0
Exercisable as of December 31, 2019	$ 0

Employee Benefits and Share-B_5

Employee Benefits and Share-Based Compensation - Summary of Restricted Share Awards (Details) - Time-Based RSU Awards - Restricted Stock - NCLH	12 Months Ended
	Dec. 31, 2019$ / sharesshares
Number of Restricted Share
Non-vested as of January 1, 2019 | shares	429
Vested | shares	(429)
Weighted-Average Grant-Date Fair Value
Non-vested as of January 1, 2019 | $ / shares	$ 58.41
Vested | $ / shares	$ 58.41

Employee Benefits and Share-B_6

Employee Benefits and Share-Based Compensation - Summary of Restricted Share Units (Details) - Restricted Share Units - NCLH	12 Months Ended
	Dec. 31, 2019$ / sharesshares
Time-Based RSU Awards
Number of Restricted Share
Non-vested as of January 1, 2019 | shares	2,973,032
Granted | shares	1,929,495
Vested | shares	(1,430,291)
Forfeited or expired | shares	(226,611)
Non-vested as of December 31, 2019 | shares	3,245,625
Non-vested and expected to vest as of December 31, 2019 | shares	3,245,625
Weighted-Average Grant-Date Fair Value
Non-vested as of January 1, 2019 | $ / shares	$ 53.98
Granted | $ / shares	55
Vested | $ / shares	53.02
Forfeited or expired | $ / shares	55.04
Non-vested as of December 31, 2019 | $ / shares	54.94
Non-vested and expected to vest as of December 31, 2019 | $ / shares	$ 54.94
Performance-Based RSU Awards
Number of Restricted Share
Non-vested as of January 1, 2019 | shares	825,614
Granted | shares	462,282
Vested | shares	(121,000)
Forfeited or expired | shares	(37,500)
Non-vested as of December 31, 2019 | shares	1,129,396
Non-vested and expected to vest as of December 31, 2019 | shares	483,976
Weighted-Average Grant-Date Fair Value
Non-vested as of January 1, 2019 | $ / shares	$ 56.58
Granted | $ / shares	55.27
Vested | $ / shares	56.27
Forfeited or expired | $ / shares	56.27
Non-vested as of December 31, 2019 | $ / shares	56.09
Non-vested and expected to vest as of December 31, 2019 | $ / shares	$ 56.61
Market-Based RSU Awards
Number of Restricted Share
Non-vested as of January 1, 2019 | shares	50,000
Granted | shares	0
Vested | shares	0
Forfeited or expired | shares	0
Non-vested as of December 31, 2019 | shares	50,000
Non-vested and expected to vest as of December 31, 2019 | shares	0
Weighted-Average Grant-Date Fair Value
Non-vested as of January 1, 2019 | $ / shares	$ 59.43
Granted | $ / shares	0
Vested | $ / shares	0
Forfeited or expired | $ / shares	0
Non-vested as of December 31, 2019 | $ / shares	59.43
Non-vested and expected to vest as of December 31, 2019 | $ / shares	$ 0

Employee Benefits and Share-B_7

Employee Benefits and Share-Based Compensation - Summary of Compensation Expense Recognized for Share-Based Compensation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation expense	$ 95,055	$ 115,983	$ 87,039
Payroll and related
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation expense	17,597	15,629	9,455
Marketing, general and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation expense	$ 77,458	$ 100,354	$ 77,584

Employee Benefits and Share-B_8

Employee Benefits and Share-Based Compensation - Amounts Related to Shipboard Retirement Plan (Details) - Shipboard Retirement Plan - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Pension expense:
Service cost	$ 2,135	$ 2,167	$ 1,987
Interest cost	1,001	857	887
Amortization of prior service cost	378	378	378
Amortization of actuarial loss		51	40
Total pension expense	3,514	3,453	3,292
Change in projected benefit obligation:
Projected benefit obligation at beginning of year	24,318	24,587	22,605
Service cost	2,135	2,167	1,987
Interest cost	1,001	857	887
Actuarial gain (loss)	2,308	(2,271)	458
Direct benefit payments	(1,067)	(1,022)	(1,350)
Projected benefit obligation at end of year	28,695	24,318	24,587
Amounts recognized in the consolidated balance sheets:
Projected benefit obligation	28,695	24,318	24,587
Amounts recognized in accumulated other comprehensive income (loss):
Prior service cost	(3,781)	(4,159)	(4,537)
Accumulated actuarial loss	(3,413)	(1,105)	(3,426)
Accumulated other comprehensive income (loss)	$ (7,194)	$ (5,264)	$ (7,963)

Employee Benefits and Share-B_9

Employee Benefits and Share-Based Compensation - Pension Benefits Expected to be Paid (Details) $ in Thousands	Dec. 31, 2019USD ($)
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
2020	$ 922
2021	949
2022	1,045
2023	1,208
2024	1,340
Next five years	$ 10,585

Employee Benefits and Share-_10

Employee Benefits and Share-Based Compensation - (Textuals) (Details) - USD ($)	Mar. 01, 2019	May 31, 2016	Jan. 31, 2013	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total intrinsic value of options exercised				$ 13,300,000	$ 16,700,000	$ 18,900,000
Proceeds from the exercise of share options				28,300,000	25,800,000	27,400,000
unrecognized compensation cost				0
Payments related to tax withholding for share-based compensation				$ 20,939,000	$ 13,855,000	$ 6,342,000
Time-Based Option Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of share option awards granted				0	0	0
Time-Based Option Awards | Restated 2013 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Description of share-based awards vesting period		The vesting period for time-based options is typically set at three, four or five years with a contractual life ranging from seven to 10 years.
Performance-Based Option Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of share option awards granted				0
Weighted-average grant-date fair value of options granted					$ 15.20	$ 8.55
Performance-Based Option Awards | Restricted Share Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized compensation cost related to restricted share unit awards				$ 9,200,000
Weighted-average period for recognition of unrecognized compensation expense				1 year 1 month 6 days
Market-Based Opton Awards | Restricted Share Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized compensation cost related to restricted share unit awards				$ 0
Weighted-average period for recognition of unrecognized compensation expense				0 years
Time-Based RSU Awards | Restricted Share Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized compensation cost related to restricted share unit awards				$ 106,500,000
Weighted-average period for recognition of unrecognized compensation expense				1 year 9 months 18 days
Performance-Based RSU Awards | Members of management team | Awarded On March 1 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted share unit awards granted	500,000
Restricted Share Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based award, vesting period				3 years
NCLH | Restated 2013 Performance Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Ordinary shares authorized			15,035,106
Maximum number of shares that can be granted to one individual			5,000,000
Number of additional shares authorized		12,430,000
Maximum number of shares that can be granted		27,465,106
NCLH | Time-Based Option Awards | Restated 2013 Performance Incentive Plan | Employee | Option Vesting Period, Three Years
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based award, vesting period		3 years
NCLH | Time-Based Option Awards | Restated 2013 Performance Incentive Plan | Employee | Option Vesting Period, Four Years
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based award, vesting period		4 years
NCLH | Time-Based Option Awards | Restated 2013 Performance Incentive Plan | Employee | Option Vesting Period, Five Years
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based award, vesting period		5 years
NCLH | Time-Based Option Awards | Restated 2013 Performance Incentive Plan | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Contractual term of shares granted		7 years
NCLH | Time-Based Option Awards | Restated 2013 Performance Incentive Plan | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Contractual term of shares granted		10 years
NCLH | Time-Based RSU Awards | Employee | Awarded On March 1 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted share unit awards granted	1,900,000
Share-based award, vesting period	3 years

Employee Benefits and Share-_11

Employee Benefits and Share-Based Compensation 1 - (Textuals) (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Apr. 30, 2014	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Defined Benefit Plan Disclosure [Line Items]
Share-based compensation expense		$ 95,055	$ 115,983	$ 87,039
Maximum percentage of employee eligible compensation that may be contributed towards 401(k) Plan		100.00%
Forfeited contributions utilized		$ 200	$ 300	$ 300
Discount rates used in net periodic benefit cost calculation		4.20%	3.60%	4.00%
Amortization period of actuarial loss		18 years 10 months 28 days
Employee Stock Purchase Plan
Defined Benefit Plan Disclosure [Line Items]
Recorded expenses related to 401(k) Plan		$ 9,100	$ 9,300	$ 7,300
Percentage of purchase price discount	15.00%
Accrued payroll liability		$ 2,100	1,900
Employee Stock Purchase Plan | Maximum
Defined Benefit Plan Disclosure [Line Items]
Share options and ordinary shares, authorized	2,000,000
First 3% of each participant's contributions
Defined Benefit Plan Disclosure [Line Items]
Employer matching contribution percent		100.00%
Defined contribution plan, percentage of employee contribution		3.00%
Greater than 3% of each participants contribution
Defined Benefit Plan Disclosure [Line Items]
Employer matching contribution percent		50.00%
Greater than 3% of each participants contribution | Minimum
Defined Benefit Plan Disclosure [Line Items]
Defined contribution plan, percentage of employee contribution		3.00%
Greater than 3% of each participants contribution | Maximum
Defined Benefit Plan Disclosure [Line Items]
Defined contribution plan, percentage of employee contribution		10.00%
Shipboard Retirement Plan
Defined Benefit Plan Disclosure [Line Items]
Projected benefit obligation included in accrued expenses and other liabilities		$ 900	1,000
Projected benefit obligation included in other long-term liabilities		$ 27,800	$ 23,300

Income Taxes - Components of Ne

Income Taxes - Components of Net Income Before Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Components Of Net Income Before Income Taxes [Line Items]
Net income before income taxes	$ 914,001	$ 974,172	$ 773,269
Bermuda
Components Of Net Income Before Income Taxes [Line Items]
Net income before income taxes	0	0	0
Foreign - Other
Components Of Net Income Before Income Taxes [Line Items]
Net income before income taxes	$ 914,001	$ 974,172	$ 773,269

Income Taxes - Components of th

Income Taxes - Components of the Provision for Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Current:
United States	$ 837	$ (836)	$ 1,026
Total current:	(5,457)	(6,207)	(3,590)
Deferred:
United States	32,315	(2,001)	(11,370)
Total deferred:	32,662	(1,775)	(10,884)
Income tax benefit (expense)	27,205	(7,982)	(14,474)
Bermuda
Current:
Foreign	0	0	0
Deferred:
Foreign	0	0	0
Foreign - Other
Current:
Foreign	(6,294)	(5,371)	(4,616)
Deferred:
Foreign	$ 347	$ 226	$ 486

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of income tax expense computed by applying our Bermuda statutory rate and reported income tax expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Tax at Bermuda statutory rate	$ 0	$ 0	$ 0
Foreign income taxes at different rates	(9,819)	(11,119)	(17,978)
Tax contingencies	(206)	(6)	946
Return to provision adjustments	1,538	3,055	(2,192)
Benefit (expense) from change in tax rate	(7)	88	4,750
Valuation allowance	35,699	0	0
Income tax benefit (expense)	$ 27,205	$ (7,982)	$ (14,474)

Income Taxes - Deferred Tax Ass

Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Deferred tax assets:
Loss carryforwards	$ 54,122	$ 62,909
Other	2,356	2,013
Valuation allowance	(5,847)	(41,924)
Total net deferred assets	50,631	22,998
Deferred tax liabilities:
Property and equipment	(34,724)	(32,954)
Total deferred tax liabilities	(34,724)	(32,954)
Net deferred tax asset (liability)	$ 15,907	$ (9,956)

Income Taxes - Reconciliation_2

Income Taxes - Reconciliation of the Total Amounts of Unrecognized Tax Benefits (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Unrecognized tax benefits, beginning of the year	$ 532
Gross increases in tax positions from prior periods	200
Unrecognized tax benefits, end of year	$ 732

Income Taxes (Textuals) (Detail

Income Taxes (Textuals) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Mar. 31, 2019
Income Taxes [Line Items]
Income tax expense due to reduction of deferred tax liabilities			$ 4,500
Unrecognized tax benefits	$ 732	$ 532	$ 532
Tax benefit connection with the reversal of substantially all of valuation allowance on net operating loss carryforwards				$ 35,700
Tax Year 2017
Income Taxes [Line Items]
U.S. corporate income tax rate			35.00%
Tax Year 2018
Income Taxes [Line Items]
U.S. corporate income tax rate		21.00%
Prestige Cruises International Inc
Income Taxes [Line Items]
Net operating loss carryforwards	$ 145,000	$ 177,500
U.S. federal and state net operating loss carryforwards, expiration year	2031
Operating loss carryforwards increase in ownership percentage	50.00%
Operating loss carryforwards, expiration period	3 years
NORWAY
Income Taxes [Line Items]
Net operating loss carryforwards	$ 13,300	13,900
U.K.
Income Taxes [Line Items]
Net operating loss carryforwards	5,500	7,500
NCLC
Income Taxes [Line Items]
Net operating loss carryforwards	$ 238,800	$ 278,300
U.S. federal and state net operating loss carryforwards, expiration year	2031

Commitments and Contingencies -

Commitments and Contingencies - Minimum Annual Payments for Non-Cancelable Ship Construction Contracts (Details) $ in Thousands	Dec. 31, 2019USD ($)
Commitments And Contingencies Disclosure [Abstract]
2020	$ 556,784
2021	279,254
2022	1,595,262
2023	1,439,097
2024	888,790
Thereafter	829,303
Total	$ 5,588,490

Commitments and Contingencies_2

Commitments and Contingencies - Future Commitments to Pay for Usage of Port Facilities (Details) $ in Thousands	Dec. 31, 2019USD ($)
Other Commitments [Line Items]
2020	$ 556,784
2021	279,254
2022	1,595,262
2023	1,439,097
2024	888,790
Thereafter	829,303
Total	5,588,490
Port Facility Commitments
Other Commitments [Line Items]
2020	79,418
2021	67,671
2022	68,049
2023	70,100
2024	75,112
Thereafter	1,726,575
Total	$ 2,086,925

Commitments and Contingencies_3

Commitments and Contingencies (Textuals) (Details) € in Millions, £ in Millions, $ in Millions	1 Months Ended
	Aug. 27, 2019item	Dec. 31, 2019GBP (£)item	Dec. 31, 2019EUR (€)item	Dec. 31, 2019USD ($)item
Commitments and Contingencies Disclosure [Line Items]
Number of cruise ships		27	27	27
Number of additional ships		10	10	10
Capacity of ship, berths		58,400	58,400	58,400
Number of lawsuits filed	2
Consumer coverage | €			€ 110
Ships launching period in 2026 and 2027 | Project Leonardo
Commitments and Contingencies Disclosure [Line Items]
Number of additional ships		2	2	2
Ship to be delivered in 2023
Commitments and Contingencies Disclosure [Line Items]
Number of additional ships		1	1	1
Ship to be delivered in 2023 | Explorer Class Ship
Commitments and Contingencies Disclosure [Line Items]
Number of additional ships		1	1	1
Ship order delivery in 2022 and 2025 | Oceania Cruises
Commitments and Contingencies Disclosure [Line Items]
Number of additional cruise ships, subject to approvals		1	1	1
Ships launching period in 2022 through 2027 | Project Leonardo
Commitments and Contingencies Disclosure [Line Items]
Number of additional ships		6	6	6
Ship Construction Contracts
Commitments and Contingencies Disclosure [Line Items]
Aggregate contract price of new ships based on the euro/U.S. dollar exchange rate			€ 7,400	$ 8,300
Export credit facility financing as percentage of contract price		80.00%	80.00%	80.00%
Ship Construction Contracts | Ship order delivery in 2022 and 2025
Commitments and Contingencies Disclosure [Line Items]
Number of additional ships		2	2	2
Capacity of ship, tons		67,000	67,000	67,000
Capacity of ship, berths		1,200	1,200	1,200
Ship Construction Contracts | Ship order delivery in winter 2020 | Explorer Class Ship And Seas Splendor
Commitments and Contingencies Disclosure [Line Items]
Capacity of ship, tons		55,000	55,000	55,000
Capacity of ship, berths		750	750	750
Ship Construction Contracts | Ships launching period in 2022 through 2027 | Project Leonardo
Commitments and Contingencies Disclosure [Line Items]
Capacity of ship, tons		140,000	140,000	140,000
Capacity of ship, berths		3,300	3,300	3,300
Other Commitments
Commitments and Contingencies Disclosure [Line Items]
Performance guarantee required to be maintained | $				$ 32
Security guarantee | £		£ 41.5

Other Income (Expense), Net (Te

Other Income (Expense), Net (Textuals) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Other Income and Expenses [Abstract]
Other income (expense), net	$ 6,155	$ 20,653	$ (10,401)

Concentration Risk (Textuals) (

Concentration Risk (Textuals) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Supplier Concentration Risk
Concentration Risk [Line Items]
Expenses incurred on hotel and restaurant services	$ 153.6	$ 153.7	$ 152.3

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Textuals) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Supplemental Cash Flow Elements [Abstract]
Non-cash investing activity in connection with property and equipment	$ 8,200	$ 39,700	$ 20,000
Net foreign currency adjustments	1,934	5,537
Income taxes paid	8,700	10,000	11,700
Non-cash investing activities in connection with capital leases			13,300
Interest and related fees	$ 291,200	$ 350,400	$ 284,900

Quarterly Selected Financial _3

Quarterly Selected Financial Data (Unaudited) (in thousands) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract]
Total revenue	$ 1,480,618	$ 1,913,851	$ 1,664,277	$ 1,403,630	$ 1,381,193	$ 1,858,356	$ 1,522,174	$ 1,293,403	$ 6,462,376	$ 6,055,126	$ 5,396,175
Operating income	199,878	512,337	309,594	158,904	211,338	551,253	293,022	168,310	1,180,713	1,223,923	1,051,452
Net income	$ 123,217	$ 455,309	$ 243,276	$ 119,404	$ 155,855	$ 475,412	$ 229,540	$ 105,383	$ 941,206	$ 966,190	$ 758,795

Subsequent Events (Textuals) (D

Subsequent Events (Textuals) (Details) - USD ($) $ in Millions	Oct. 30, 2019	Jan. 31, 2020
Norwegian Encore
Subsequent Event [Line Items]
Term loan amount	$ 882.9
Interest rate	3.92%
Maturity date	Oct. 30, 2031
Export credit facility financing as percentage of contract price	80.00%
Subsequent Event | Regent Seven Seas Splendor
Subsequent Event [Line Items]
Export credit facility financing as percentage of contract price		80.00%
Subsequent Event | $426 Million Seven Seas Splendor Term Loan | Regent Seven Seas Splendor
Subsequent Event [Line Items]
Term loan amount		$ 426
Interest rate		3.01%
Maturity date		Jan. 30, 2032

Schedule II Valuation and Qua_2

Schedule II Valuation and Qualifying Accounts (Details) - Valuation allowance on deferred tax assets - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance	$ 41,924	$ 42,154	$ 64,573
Additions Charged to other accounts		276
Deductions	(36,077)	(506)	(22,419)
Balance	$ 5,847	$ 41,924	$ 42,154