Norwegian Cruise Line (NCLH) 10-Q 15 May 20 2020 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2020	May 08, 2020
Document And Entity Information
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2020
Document Transition Report	false
Entity File Number	001-35784
Entity Registrant Name	NORWEGIAN CRUISE LINE HOLDINGS LTD.
Entity Incorporation, State or Country Code	D0
Entity Tax Identification Number	98-0691007
Entity Address, Address Line One	7665 Corporate Center Drive
Entity Address, City or Town	Miami
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	33126
City Area Code	305
Local Phone Number	436-4000
Title of 12(b) Security	Ordinary shares
Trading Symbol	NCLH
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock Shares Outstanding		256,346,957
Entity Central Index Key	0001513761
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
Amendment Flag	false

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Revenue
Total revenue	$ 1,246,882	$ 1,403,630
Cruise operating expense
Payroll and related	247,147	223,107
Fuel	125,024	98,253
Total cruise operating expense	994,260	826,651
Other operating expense
Marketing, general and administrative	270,689	248,942
Depreciation and amortization	198,197	169,741
Impairment loss	1,607,797
Total other operating expense	2,076,683	418,683
Operating income (loss)	(1,824,061)	158,296
Non-operating income (expense)
Interest expense, net	(68,907)	(73,503)
Other income (expense), net	5,823	(434)
Total non-operating income (expense)	(63,084)	(73,937)
Net income (loss) before income taxes	(1,887,145)	84,359
Income tax benefit	6,173	33,798
Net income (loss)	$ (1,880,972)	$ 118,157
Weighted-average shares outstanding
Basic (in shares)	213,630,798	217,241,473
Diluted (in shares)	213,630,798	218,873,272
Earnings (loss) per share
Basic (in dollars per share)	$ (8.80)	$ 0.54
Diluted (in dollars per share)	$ (8.80)	$ 0.54
Passenger ticket
Revenue
Total revenue	$ 840,791	$ 973,273
Onboard and other
Revenue
Total revenue	406,091	430,357
Cruise operating expense
Total cruise operating expense	74,973	79,413
Commissions, transportation and other
Cruise operating expense
Total cruise operating expense	332,368	229,264
Food
Cruise operating expense
Total cruise operating expense	49,216	55,045
Other
Cruise operating expense
Total cruise operating expense	$ 165,532	$ 141,569

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ (1,880,972)	$ 118,157
Other comprehensive income (loss):
Shipboard Retirement Plan	102	95
Cash flow hedges:
Net unrealized gain (loss)	(305,860)	15,152
Amount realized and reclassified into earnings	21,999	(7,000)
Total other comprehensive income (loss)	(283,759)	8,247
Total comprehensive income (loss)	$ (2,164,731)	$ 126,404

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 1,360,261	$ 252,876
Accounts receivable, net	96,277	75,109
Inventories	85,516	95,427
Prepaid expenses and other assets	154,281	306,733
Total current assets	1,696,335	730,145
Property and equipment, net	13,567,576	13,135,337
Goodwill	98,134	1,388,931
Tradenames	500,525	817,525
Other long-term assets	599,939	612,661
Total assets	16,462,509	16,684,599
Current liabilities:
Current portion of long-term debt	173,797	746,358
Accounts payable	364,216	100,777
Accrued expenses and other liabilities	762,253	782,275
Advance ticket sales	1,659,527	1,954,980
Total current liabilities	2,959,793	3,584,390
Long-term debt	8,432,425	6,055,335
Other long-term liabilities	695,637	529,295
Total liabilities	12,087,855	10,169,020
Commitments and contingencies (Note 11)
Shareholders' equity:
Ordinary shares, $0.001 par value; 490,000,000 shares authorized; 238,976,120 shares issued and 214,525,261 shares outstanding at March 31, 2020 and 237,533,270 shares issued and 213,082,411 shares outstanding at December 31, 2019	239	237
Additional paid-in capital	4,257,571	4,235,690
Accumulated other comprehensive income (loss)	(579,249)	(295,490)
Retained earnings	1,950,019	3,829,068
Treasury shares (24,450,859 at March 31, 2020 and December 31, 2019, at cost)	(1,253,926)	(1,253,926)
Total shareholders' equity	4,374,654	6,515,579
Total liabilities and shareholders' equity	$ 16,462,509	$ 16,684,599

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2020	Dec. 31, 2019
Statement Of Financial Position [Abstract]
Ordinary shares, par value (in dollars per share)	$ 0.001	$ 0.001
Ordinary shares, authorized	490,000,000	490,000,000
Ordinary shares, issued	238,976,120	237,533,270
Ordinary shares, outstanding	214,525,261	213,082,411
Ordinary shares, treasury stock	24,450,859	24,450,859

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Cash flows from operating activities
Net income (loss)	$ (1,880,972)	$ 118,157
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization expense	195,195	169,714
Impairment loss	1,607,797
Deferred income taxes, net	(6,120)	(32,094)
Loss on derivatives	13,619	4
Loss on extinguishment of debt		2,903
Provision for bad debts and inventory obsolescence	8,372	1,022
Share-based compensation expense	32,758	26,999
Net foreign currency adjustments	(1,386)	(1,896)
Changes in operating assets and liabilities:
Accounts receivable, net	(23,109)	(2,179)
Inventories	9,258	(496)
Prepaid expenses and other assets	145,768	(59,821)
Accounts payable	258,215	(89,914)
Accrued expenses and other liabilities	(123,552)	(44,281)
Advance ticket sales	(288,544)	439,352
Net cash provided by (used in) operating activities	(52,701)	527,470
Cash flows from investing activities
Additions to property and equipment, net	(610,155)	(214,559)
Cash received on settlement of derivatives		289
Cash paid on settlement of derivatives	(28,606)
Other	868	259
Net cash used in investing activities	(637,893)	(214,011)
Cash flows from financing activities
Repayments of long-term debt	(181,530)	(2,345,589)
Proceeds from long-term debt	2,007,870	2,392,000
Proceeds from employee related plans	4,100	7,744
Net share settlement of restricted share units	(14,975)	(18,850)
Purchases of treasury shares		(199,996)
Deferred financing fees	(12,993)	(7,911)
Net cash provided by (used in) financing activities	1,802,472	(172,602)
Effect of exchange rates on cash and cash equivalents	(4,493)
Net increase in cash and cash equivalents	1,107,385	140,857
Cash and cash equivalents at beginning of period	252,876	163,851
Cash and cash equivalents at end of period	$ 1,360,261	$ 304,708

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	Treasury Shares	Total
Balance at Dec. 31, 2018	$ 235	$ 4,129,639	$ (161,647)	$ 2,898,840	$ (904,066)	$ 5,963,001
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation		26,999				26,999
Issuance of shares under employee related plans	2	7,742				7,744
Treasury shares					(199,996)	(199,996)
Net share settlement of restricted share units		(18,850)				(18,850)
Other comprehensive income (loss), net			8,247			8,247
Net income (loss)				118,157		118,157
Balance at Mar. 31, 2019	237	4,145,530	(153,400)	3,016,997	(1,104,062)	5,905,302
Balance at Dec. 31, 2019	237	4,235,690	(295,490)	3,829,068	(1,253,926)	6,515,579
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation		32,758				32,758
Issuance of shares under employee related plans	2	4,098				4,100
Net share settlement of restricted share units		(14,975)				(14,975)
Other comprehensive income (loss), net			(283,759)			(283,759)
Net income (loss)				(1,880,972)		(1,880,972)
Balance at Mar. 31, 2020	$ 239	$ 4,257,571	$ (579,249)	1,950,019	$ (1,253,926)	4,374,654
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cumulative change in accounting policy | Accounting Standards Update 2016-13 [Member]				$ 1,923		$ 1,923

Description of Business and Org

Description of Business and Organization	3 Months Ended
	Mar. 31, 2020
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 March 31, 2020, we had 28 ships with approximately 59,150 Berths and had orders for nine additional ships to be delivered through 2027, subject to certain conditions. We have one Explorer Class Ship on order for delivery in 2023. We have two Allura Class Ships on order for delivery in 2022 and 2025. Project Leonardo will introduce an additional six ships with expected delivery dates from 2022 through 2027. These additions to our fleet will increase our total Berths to approximately 82,000. We expect that the effects of the novel coronavirus (“COVID-19”) on the shipyards where our ships are under construction (or will be constructed) will result in delays in ship deliveries and such delays may be prolonged.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2020
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Liquidity and Management’s Plan Due to the continued spread of COVID-19, growing travel restrictions and limited access to ports around the world, in March 2020, the Company implemented a voluntary suspension of all cruise voyages across its three brands, which has subsequently been extended through June 30, 2020. On March 14, 2020, concurrent with our and the broader cruise industry’s suspension, the U.S. Centers for Disease Control and Prevention (“CDC”) issued a No Sail Order through April 13, 2020. On April 9, 2020, the CDC modified its existing No Sail Order to extend it until the earliest of (a) the expiration of the Secretary of Health and Human Services’ declaration that COVID-19 constitutes a public health emergency, (b) the date the Director of the CDC rescinds or modifies the No Sail Order or (c) 100 days after the order appears on the Federal Register, which would be July 24, 2020. In addition, the duration of any voluntary suspensions we have implemented and resumption of operations outside of the United States will be dependent, in part, on various travel restrictions and travel bans issued by various countries around the world, as well as the availability of ports around the world. Significant events affecting travel, including COVID-19, typically have an impact on the demand for cruise vacations, with the full extent of the impact generally determined by the length of time the event influences travel decisions. We believe the ongoing effects of COVID-19 on our operations and global bookings have had, and will continue to have, a significant impact on our financial results and liquidity, and such negative impact may continue well beyond the containment of such an outbreak. Due to the unknown duration and extent of the outbreak, travel restrictions and advisories, the potential unavailability of ports and/or destinations, unknown cancellations and timing of redeployments and a general impact on consumer sentiment regarding cruise travel, the full effect on our financial performance cannot be quantified at this time, but we expect to report a net loss for the year ending December 31, 2020. Subsequent to March 31, 2020, we have taken steps to improve our liquidity through securing deferrals of existing debt amortization, including through available export credit agencies and related governments, as discussed more fully under Note 8 – “Long-Term Debt”. The Company has received additional financing through debt and equity transactions totaling $1.95 billion in proceeds after underwriting fees. The Company expects to receive another $400.0 million from the transaction with L Catterton upon the satisfaction of certain customary closing conditions. Refer to Note 15 – “Subsequent Events” for further information on the equity financing. The Company has also undertaken several proactive measures to mitigate the financial and operational impacts of COVID-19, through the reduction of capital expenditures and operating expenses. In accordance with Accounting Standards Update (“ASU”) No. 2014-15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern (Subtopic 205-40) , the Company has evaluated whether there are conditions and events, considered in the aggregate, that raise substantial doubt about the Company’s ability to continue as a going concern within one year after the date that the consolidated financial statements are issued. Based on the actions the Company has taken as described above and our resulting current resources, the Company has alleviated the substantial doubt previously disclosed and has sufficient liquidity to satisfy our obligations over the next twelve months Basis of Presentation The accompanying consolidated financial statements are unaudited and, in our opinion, contain all normal recurring adjustments necessary for a fair statement of the results for the periods presented. Our operations are seasonal and results for interim periods are not necessarily indicative of the results for the entire fiscal year. Historically, demand for cruises has been strongest during the Northern Hemisphere’s summer months, although demand for cruises during the summer months of 2020 are expected to continue to be adversely impacted by the COVID-19 pandemic. The interim consolidated financial statements should be read in conjunction with the audited consolidated financial statements for the year ended December 31, 2019, which are included in our most recent Annual Report on Form 10-K filed with the SEC, as updated by our Current Report on Form 8-K filed on May 5, 2020. Reclassifications Certain amounts in prior periods have been reclassified to conform to the current period presentation. ​ Earnings Per Share A reconciliation between basic and diluted earnings per share was as follows (in thousands, except share and per share data): ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ March 31, ​ 2020 2019 Net income (loss) ​ $ (1,880,972) ​ $ 118,157 Basic weighted-average shares outstanding ​ 213,630,798 ​ 217,241,473 Dilutive effect of share awards ​ — ​ 1,631,799 Diluted weighted-average shares outstanding ​ 213,630,798 ​ 218,873,272 Basic earnings (loss) per share ​ $ (8.80) ​ $ 0.54 Diluted earnings (loss) per share ​ $ (8.80) ​ $ 0.54 ​ For the three months ended March 31, 2020 and 2019, a total of 7.0 million and 5.5 million shares, respectively, have been excluded from diluted weighted-average shares outstanding because the effect of including them would have been anti-dilutive. Foreign Currency The majority of our transactions are settled in U.S. dollars. We remeasure assets and liabilities denominated in foreign currencies at exchange rates in effect at the balance sheet date. Gains or losses resulting from transactions denominated in other currencies are recognized in our consolidated statements of operations within other income, net. We recognized a gain of $19.9 million and a loss of $1.0 million for the three months ended March 31, 2020 and 2019, respectively, related to transactions denominated in other currencies. Depreciation and Amortization Expense The amortization of deferred financing fees is included in depreciation and amortization expense in the consolidated statements of cash flows; however, for purposes of the consolidated statements of operations they are included in interest expense, net. Recently Issued Accounting Guidance In March 2020, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting (“ASU 2020-04”), which provided guidance to alleviate the burden in accounting for reference rate reform by allowing certain expedients and exceptions in applying GAAP to contracts, hedging relationships and other transactions impacted by reference rate reform. The provisions apply only to those transactions that reference LIBOR or another reference rate expected to be discontinued due to reference rate reform. Adoption of the provisions of ASU 2020-04 are optional and are effective from March 12, 2020 through December 31, 2022. We are currently evaluating the impact of ASU 2020-04 on our consolidated financial statements.

Revenue Recognition

Revenue Recognition	3 Months Ended
	Mar. 31, 2020
Revenue from Contract with Customer [Abstract]
Revenue Recognition	3. Revenue Recognition Disaggregation of Revenue Revenue and cash flows are affected by economic factors in various geographical regions. Revenues by destination were as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ March 31, ​ 2020 2019 North America ​ $ 951,056 ​ $ 982,989 Europe ​ 13,335 ​ 33,752 Asia-Pacific ​ 150,921 ​ 222,767 South America ​ ​ 76,306 ​ ​ 90,303 Other ​ 55,264 ​ 73,819 Total revenue ​ $ 1,246,882 ​ $ 1,403,630 ​ North America includes the U.S., the Caribbean, Canada and Mexico. Europe includes the Baltic region, Canary Islands and Mediterranean. Asia-Pacific includes Australia, New Zealand and Asia. Other includes all other international territories. Segment Reporting We have concluded that our business has a single reportable segment. Each brand, Norwegian, Oceania Cruises and Regent, constitutes a business for which discrete financial information is available and management regularly reviews the brand level operating results and, therefore, each brand is considered an operating segment. Our operating segments have similar economic and qualitative characteristics, including similar long-term margins and similar products and services; therefore, we aggregate all of the operating segments into one reportable segment. Although we sell cruises on an international basis, our passenger ticket revenue is primarily attributed to U.S.-sourced guests who make reservations in the U.S. Revenue attributable to U.S.-sourced guests has historically approximated 75-80%. No other individual country’s revenues exceed 10% in any given period. Contract Balances Receivables from customers are included within accounts receivable, net. As of March 31, 2020 and December 31, 2019, our receivables from customers were $17.3 million and $15.3 million, respectively. In March 2020, our brands launched new cancellation policies to permit our guests to cancel cruises which are not part of the Company’s temporary suspension of voyages up to 48 hours prior to embarkation and receive a refund in the form of a credit to be applied toward a future cruise. These programs are currently in place for cruises booked through specific time periods specified by brand, and for cruises scheduled to embark through either September 30 or December 31, 2020, depending on the brand. The future cruise credit is valid for any sailing through December 31, 2022, and we may extend this offer. The future cruise credits are not contracts, and therefore, guests who have elected this option are excluded from our contract liability balance; however, the credit for the original amount paid is included in advance ticket sales. ​ Our contract liabilities are included within advance ticket sales. As of March 31, 2020 and December 31, 2019, our contract liabilities were $0.2 billion and $1.4 billion, respectively. Of the amounts included within contract liabilities as of March 31, 2020, approximately 60% were refundable in accordance with our cancellation policies. For the three months ended March 31, 2020, $0.9 billion of revenue recognized was included in the contract liability balance at the beginning of the period. ​ For cruise vacations that had been cancelled by us as of March 31, 2020, approximately $92.0 million in costs to obtain these contracts, consisting of protected commissions and credit card fees, were recognized in earnings during the three months ended March 31, 2020.

Intangible Assets

Intangible Assets	3 Months Ended
	Mar. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	4. Intangible Assets We evaluate goodwill and tradenames for impairment annually or more frequently when an event occurs or circumstances change that indicates the carrying value of a reporting unit may not be recoverable. In March 2020, for its three brands, which has subsequently been extended through June 30, 2020. Due to the temporary suspension of operations and decline in our stock price, we performed interim goodwill and tradename impairment tests as of March 31, 2020. We refer you to Note 9 – “Fair Value Measurements” for information on our valuation assumptions. The changes in the carrying amount of goodwill for each reporting unit for the three months ended March 31, 2020 are as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Reporting Unit ​ ​ ​ ​ ​ Norwegian ​ ​ ​ Regent ​ ​ ​ ​ Cruise ​ Oceania ​ Seven Seas ​ Total ​ ​ Line Cruises Cruises Goodwill Balance, December 31, 2019 $ 403,805 ​ $ 523,026 ​ $ 462,100 ​ $ 1,388,931 Impairment loss ​ (403,805) ​ (523,026) ​ (363,966) ​ (1,290,797) Balance, March 31, 2020 ​ $ — ​ $ — ​ $ 98,134 ​ $ 98,134 ​ As of March 31, 2020, we impaired our tradenames for Oceania Cruises and Regent Seven Seas Cruises by $170.0 million and $147.0 million, respectively. Following these impairments, the carrying value of our tradenames was $500.5 million. ​ The carrying amounts of intangible assets subject to amortization are included within other long-term assets. The gross carrying amounts of intangible 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): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted- ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Average ​ ​ Gross Carrying ​ Accumulated ​ Net Carrying ​ Amortization ​ Amount Amortization Amount Period (Years) Customer relationships ​ $ 120,000 ​ $ (112,943) ​ $ 7,057 6.0 License ​ 750 ​ (350) ​ 400 10.0 Total intangible assets subject to amortization ​ $ 120,750 ​ $ (113,293) ​ $ 7,457 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 Licenses ​ 750 ​ (331) ​ 419 10.0 Total intangible assets subject to amortization ​ $ 120,750 ​ $ (110,500) ​ $ 10,250 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ The aggregate amortization expense for intangible assets is as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ March 31, ​ 2020 2019 Amortization expense ​ $ 2,793 ​ $ 4,622 ​ 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 2021 ​ $ 75 2022 ​ ​ 75 2023 ​ ​ 75 2024 ​ ​ 75 2025 ​ ​ 44 ​

Leases

Leases	3 Months Ended
	Mar. 31, 2020
Leases [Abstract]
Leases	5. Leases Lease balances were as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance Sheet location March 31, 2020 December 31, 2019 Operating leases ​ ​ ​ Right-of-use assets Other long-term assets ​ $ 229,588 ​ $ 236,604 Current operating lease liabilities Accrued expenses and other liabilities ​ ​ 23,874 ​ ​ 39,126 Non-current operating lease liabilities Other long-term liabilities ​ ​ 200,428 ​ ​ 207,243 ​ ​ ​ ​ ​ ​ ​ ​ ​ Finance leases ​ ​ ​ ​ Right-of-use assets Property and equipment, net ​ ​ 13,386 ​ ​ 13,873 Current finance lease liabilities Current portion of long-term debt ​ ​ 5,304 ​ ​ 6,419 Non-current finance lease liabilities Long-term debt ​ ​ 7,895 ​ ​ 8,812 ​

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	3 Months Ended
	Mar. 31, 2020
Statement of Comprehensive Income [Abstract]
Accumulated Other Comprehensive Income (Loss)	6. Accumulated Other Comprehensive Income (Loss) Accumulated other comprehensive income (loss) for the three months ended March 31, 2020 was as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, 2020 ​ ​ ​ ​ ​ ​ ​ 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 ​ $ (295,490) ​ $ (289,362) ​ $ (6,128) Current period other comprehensive loss before reclassifications ​ (305,860) ​ (305,860) — Amounts reclassified into earnings ​ 22,101 ​ 21,999 (1) 102 (2) Accumulated other comprehensive income (loss) at end of period ​ $ (579,249) ​ $ (573,223) (3) $ (6,026) ​ Accumulated other comprehensive income (loss) for the three months ended March 31, 2019 was as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 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 $ (161,647) ​ $ (157,449) ​ $ (4,198) Current period other comprehensive income before reclassifications 15,152 15,152 — Amounts reclassified into earnings (6,905) (7,000) (1) 95 (2) Accumulated other comprehensive income (loss) at end of period $ (153,400) $ (149,297) ​ $ (4,103) (1) We refer you to Note 9— “Fair Value Measurements and Derivatives” for the affected line items in the consolidated statements of operations. (2) Amortization of prior-service cost and actuarial loss reclassified to other income, net. (3) Includes $107.6 million of loss expected to be reclassified into earnings in the next 12 months.

Property and Equipment, net

Property and Equipment, net	3 Months Ended
	Mar. 31, 2020
Property Plant And Equipment [Abstract]
Property and Equipment, net	7. Property and Equipment, net Property and equipment, net increased $432.2 million for the three months ended March 31, 2020 primarily due to the delivery of Seven Seas Splendor in January 2020 and ship improvement projects slightly offset by a $25.4 million impairment of projects that will not be completed, which has been recognized in depreciation and amortization expense. ​ ​

Long-Term Debt

Long-Term Debt	3 Months Ended
	Mar. 31, 2020
Long-term Debt, Unclassified [Abstract]
Long-Term Debt	8. Long-Term Debt As of March 31, 2020, NCLC had borrowed $875 million under its existing Revolving Loan Facility maturing on January 2, 2024. As of March 31, 2020 borrowings under the Revolving Loan Facility bear interest at LIBOR plus a margin of 1.25%. In March 2020, NCLC entered into a $675 million revolving credit facility (“ maturing on March 4, 2021, with JPMorgan Chase LIBOR plus a margin of 0.80% ​ In April 2020, NCLC amended $386 million of export credit backed facilities that finance Norwegian Breakaway, Norwegian Getaway, Norwegian Escape, Norwegian Joy, Norwegian Bliss and Norwegian Encore to incorporate the terms of a 12 -month debt holiday initiative offered to the cruise industry by Euler Hermes Aktiengesellschaft (“Hermes”), the official export credit agency of Germany. The debt holiday was initiated to provide interim debt service and financial covenant relief for borrowers during the current global COVID-19 pandemic with respect to their Hermes guaranteed financings. The amended agreements provide that, among other things, (a) ​ ​ ​ ​ ​ ​ ​ Margin ​ €529.8 million Breakaway one loan (Norwegian Breakaway) ​ 0.90 % €529.8 million Breakaway two loan (Norwegian Getaway) ​ 1.20 % €590.5 million Breakaway three loan (Norwegian Escape) ​ 1.50 % €729.9 million Breakaway four loan (Norwegian Joy) ​ 1.50 % €710.8 million Seahawk 1 term loan (Norwegian Bliss) ​ 1.00 % €748.7 million Seahawk 2 term loan (Norwegian Encore) ​ 1.00 % ​ After the end of the Deferral Period, the deferred amounts will amortize in eight equal semiannual installments. ​ Also, in April 2020, NCLC amended the $230 million credit agreement, dated as of January 10, 2019, with Nordea Bank ABP, New York Branch, as administrative agent, and certain other lenders. The amendment extends the maturity date of the term loan by one year to January 10, 2022. ​ In May 2020, NCLC amended its $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 amendment provides that (a) amortization payments due through May 1, 2021 will be deferred following the consummation of the successful debt and equity financing, which resulted in aggregate gross proceeds greater than the amount required for the extension and (b) the principal amount so deferred will constitute a separate tranche of loans under the facility (the “Deferred Jewel Loans”). The Deferred Jewel Loans will accrue interest at a per annum rate based on LIBOR plus a margin of 2.50% in the case of Eurocurrency loans or at a per annum rate based on the base rate plus a margin of 1.50% in the case of base rate loans. After the end of the deferral period, the deferred loan payments will amortize in an aggregate principal amount equal to 25% per annum in semiannual installments, and in the case of such payment due on the maturity date, an amount equal to the then unpaid principal amount of the Deferred Jewel Loans outstanding. In addition, in May 2020, NCLH and NCLC entered into an investment agreement with an affiliate of L Catterton (the “Private Investor”), pursuant to which NCLC agreed to sell and issue to the Private Investor (the “Private Exchangeable Notes Transaction”) up to $400 million in aggregate principal amount of exchangeable senior notes due 2026 (the “Private Exchangeable Notes”). The Private Exchangeable Notes Transaction is expected to close no later than May 29, 2020 upon the satisfaction of certain customary closing conditions. The Private Exchangeable Notes will accrue interest at a rate of 7.0% per annum for the first year post-issuance (which will accrete to the principal amount), 4.5% per annum interest (which will accrete to the principal amount) plus 3.0% per annum cash interest for the following four years and 7.5% per annum in cash interest for the final year prior to maturity. The Private Investor will have certain registration rights in respect of NCLH’s ordinary shares underlying the Private Exchangeable Notes and be subject to certain customary transfer, voting and standstill restrictions. The Private Exchangeable Notes will be guaranteed by NCLH on a senior basis. Holders may exchange their Private Exchangeable Notes at their option into redeemable preference shares of NCLC. Upon exchange, the preference shares will be immediately and automatically exchanged, for each $1,000 principal amount of exchanged Private Exchangeable Notes, into a number of NCLH’s ordinary shares based on the exchange rate. The exchange rate will initially be approximately 82.6446 ordinary shares per $1,000 principal amount of Private Exchangeable Notes (equivalent to an initial exchange price of $12.10 per ordinary share), subject to future adjustment. NCLC has the right to redeem all or a portion of the Private Exchange Notes at any time after the third anniversary of the issuance date at a price equal to 100% of the accreted principal amount thereof if the market closing price of NCLH’s ordinary shares has been at least 250% of the per share price implied by the exchange rate then in effect for at least 20 trading days during any 30 consecutive trading day period. In May 2020, NCLC conducted a private offering of $675.0 million aggregate principal amount of 12.25% senior secured notes due 2024 (the “Senior Secured Notes”) at 99% original issue discount and a private offering of $862.5 million aggregate principal amount of 6.00% exchangeable senior notes due 2024 (the “Exchangeable Notes”). The Exchangeable Notes will be guaranteed by NCLH on a senior basis. Holders may exchange their Exchangeable Notes at their option into redeemable preference shares of NCLC. Upon exchange, the preference shares will be immediately and automatically exchanged, for each $1,000 principal amount of exchanged Exchangeable Notes, into a number of NCLH’s ordinary shares based on the exchange rate. The exchange rate will initially be 72.7273 ordinary shares per $1,000 principal amount of Exchangeable Notes (equivalent to an initial exchange price of approximately $13.75 per ordinary share), subject to adjustment. The Senior Secured Notes will pay interest at 12.25% per annum, semiannually on May 15 and November 15 of each year, commencing on November 15, 2020, to holders of record at the close of business on the immediately preceding May 1 and November 1, respectively. NCLC may redeem the Senior Secured Notes, in whole or part, at any time prior to February 15, 2024, at a price equal to 100% of the principal amount of the Notes redeemed plus accrued and unpaid interest to, but excluding, the redemption date and a “make-whole premium.” NCLC may redeem the Senior Secured Notes, in whole or in part, on or after February 15, 2024, at a price equal to 100% of the principal amount of the Notes redeemed plus accrued and unpaid interest to, but excluding, the redemption date. At any time on or prior to February 15, 2022, NCLC may choose to redeem up to 35% of the aggregate principal amount of the Senior Secured Notes at a redemption price equal to 112.25% of the principal amount of the Senior Secured Notes redeemed plus accrued and unpaid interest to, but excluding, the redemption date, so long as at least 65% of the aggregate principal amount of the Senior Secured Notes issued remains outstanding following such redemption. The Senior Secured Notes will be secured by first-priority interests in, among other things and subject to certain agreed security principles, shares of capital stock in certain subsidiary guarantors, two of our vessels, our material intellectual property and two islands that we use in the operations of our cruise business. The Senior Secured Notes will also be guaranteed by our subsidiaries that own the property that will secure the Senior Secured Notes as well as certain additional subsidiaries whose assets will not secure the Senior Secured Notes. The indenture governing the Senior Secured Notes will include requirements that will, among other things and subject to a number of qualifications and exceptions, restrict the ability of NCLC and its restricted subsidiaries, as applicable, to (i) incur or guarantee additional indebtedness; (ii) pay dividends or distributions on, or redeem or repurchase, equity interests and make other restricted payments; (iii) make investments; (iv) consummate certain asset sales; (v) engage in certain transactions with affiliates; (vi) grant or assume certain liens; and (vii) consolidate, merge or transfer all or substantially all of our assets. NCLC entered into a Fifth Amended and Restated Credit Agreement, dated as of May 8, 2020, with a subsidiary of NCLC, as co-borrower and JPMorgan Chase Bank, N.A., as administrative agent, and lenders holding 87.57% of the term loans outstanding. This revised facility provides that, among other things, (a) amortization payments due within the first year after effectiveness will be deferred and (b) the principal amount so deferred will constitute a separate tranche of loans (the “Deferred Term A Loans”). The Deferred Term A Loans will accrue interest (x) in the case of Eurocurrency loans, at a per annum rate based on LIBOR plus a margin of 2.50% or (y) in the case of base rate loans, at a per annum rate based on the base rate plus a margin of 1.50%. After the end of the deferral period, the Deferred Term A Loans will amortize in an aggregate principal amount equal to 25% per annum of the Deferred Term A Loans, in quarterly installments, and in the case of such payment due on the maturity date, an amount equal to the then unpaid principal amount of the Deferred Term A Loans outstanding . The Term A Loans (other than the Deferred Term A Loans) shall constitute a separate class of loans (the “Legacy Term A Loans), with the same terms as the Term A Loans under the Fourth Amended and Restated Credit Agreement, except that the amortization payments on the Legacy Term A Loans shall be deferred during the deferral period. As a result of the aforementioned executed amendments, including those with contingent conditions that were satisfied on May 8, 2020, we have reclassified $1.4 billion of debt which was originally classified as a current liability based on the contractual maturities outstanding at March 31, 2020 to long-term debt. The following are scheduled principal repayments on long-term debt including finance lease obligations as of March 31, 2020 for each of the next five years (in thousands): ​ ​ ​ ​ ​ Year Amount April 1, 2020 - March 31, 2021 ​ $ 173,797 April 1, 2021 - March 31, 2022 ​ 1,742,815 April 1, 2022 - March 31, 2023 ​ 872,491 April 1, 2023 - March 31, 2024 ​ 2,819,592 April 1, 2024 - March 31, 2025 ​ 1,147,007 Thereafter ​ 1,996,325 Total ​ $ 8,752,027 ​ We are in the process of seeking consents to amend our export credit backed facilities to incorporate the terms of a 12-month debt holiday initiative offered to the cruise industry by Servizi Assicurativi del Commercio Estero (“SACE”), the official ECA of Italy, to refinance the amortization payments on such facilities, but we cannot guarantee the outcome of that process. ​ At March 31, 2020, we were in compliance with all of our debt covenants. Subsequent to March 31, 2020, as part of the Hermes debt holiday we have obtained lender consents to waive financial covenants for the Deferral Period. If we do not continue to remain in compliance with our covenants, we would have to seek additional amendments to our covenants. However, no assurances can be made that such amendments would be approved by our lenders. Generally, if an event of default under any debt agreement occurs, then pursuant to cross default and/or cross acceleration clauses, substantially all of our outstanding debt and derivative contract payables could become due, and all debt and derivative contracts could be terminated, which could have a material adverse impact to our operations and liquidity.

Fair Value Measurements and Der

Fair Value Measurements and Derivatives	3 Months Ended
	Mar. 31, 2020
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Fair Value Measurements and Derivatives	9. 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 March 31, 2020, we had fuel swaps and collars, which are used to mitigate the financial impact of volatility of fuel prices pertaining to approximately 1.2 million metric tons of our projected fuel purchases, maturing through December 31, 2023. As of March 31, 2020, we had fuel swaps which were not designated as cash flow hedges. Due to a decrease in forecasted fuel consumption resulting from voyage cancellations due to COVID-19, we released into earnings fuel hedges of approximately 68 thousand metric tons of fuel as these forecasted transactions were no longer probable of occurring. The agreements mature through October 31, 2020. As of March 31, 2020, 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 €2.0 billion, or $2.2 billion based on the euro/U.S. dollar exchange rate as of March 31, 2020. As of March 31, 2020, 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 $0.7 billion as of March 31, 2020. The derivatives measured at fair value and the respective location in the consolidated balance sheets include the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Assets ​ Liabilities ​ ​ ​ ​ March 31, ​ December 31, ​ March 31, ​ December 31, ​ Balance Sheet Location 2020 2019 2020 2019 Derivative Contracts Designated as Hedging Instruments ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fuel contracts ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other long-term assets ​ $ — ​ $ 277 ​ $ — ​ $ — ​ ​ Accrued expenses and other liabilities ​ — ​ 2,300 ​ 93,109 ​ 18,257 ​ ​ Other long-term liabilities ​ — ​ 683 ​ 110,085 ​ 17,763 Foreign currency contracts ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other long-term assets ​ 1,411 ​ — ​ — ​ — ​ ​ Accrued expenses and other liabilities ​ — ​ — ​ 15,581 ​ 33,475 ​ ​ Other long-term liabilities ​ — ​ 169 ​ 206,917 ​ 118,500 Interest rate contracts ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accrued expenses and other liabilities ​ — ​ — ​ 7,790 ​ 2,178 ​ ​ Other long-term liabilities ​ ​ — ​ — ​ 4,690 ​ ​ 1,861 Total derivatives designated as hedging instruments ​ $ 1,411 ​ $ 3,429 ​ $ 438,172 ​ $ 192,034 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivative Contracts Not Designated as Hedging Instruments ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fuel contracts ​ Accrued expenses and other liabilities ​ $ — ​ $ — ​ $ 13,619 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total derivatives not designated as hedging instruments ​ $ — ​ $ — ​ $ 13,619 ​ $ — Total derivatives ​ ​ ​ $ 1,411 ​ $ 3,429 ​ $ 451,791 ​ $ 192,034 ​ The fair values of swap and forward contracts are determined based on inputs that are readily available in public markets or can be derived from information available in publicly quoted markets. The Company determines the value of options and collars utilizing an option pricing model based on inputs that are either readily available in public markets or can be derived from information available in publicly quoted markets. The option pricing model used by the Company is an industry standard model for valuing options and is used by the broker/dealer community. The inputs to this option pricing model are the option strike price, underlying price, risk-free rate of interest, time to expiration, and volatility. The fair value of option contracts considers both the intrinsic value and any remaining time value associated with those derivatives that have not yet settled. The Company also considers counterparty credit risk and its own credit risk in its determination of all estimated fair values. Our derivatives and financial instruments were categorized as Level 2 in the fair value hierarchy, and we had no derivatives or financial instruments categorized as Level 1 or Level 3. Our derivative contracts include rights of offset with our counterparties. We have elected to net certain assets and liabilities within counterparties when the rights of offset exist. We are not required to post cash collateral related to our derivative instruments. The following table discloses the gross and net amounts recognized within assets and liabilities (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross ​ ​ ​ ​ Gross ​ ​ ​ ​ ​ Gross ​ Amounts ​ Total Net ​ Amounts ​ ​ ​ March 31, 2020 Amounts Offset Amounts Not Offset Net Amounts Assets ​ $ 1,411 ​ $ — ​ $ 1,411 ​ $ (1,411) ​ $ — Liabilities ​ ​ 451,791 ​ ​ — ​ ​ 451,791 ​ ​ (451,791) ​ ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 ​ The effects of cash flow hedge accounting on accumulated other comprehensive income (loss) were as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Location of Gain ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (Loss) Reclassified ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ from Accumulated ​ Amount of Gain (Loss) Reclassified ​ ​ Amount of Gain (Loss) ​ Other Comprehensive ​ from Accumulated Other ​ ​ Recognized in Other ​ Income (Loss) into ​ Comprehensive Derivatives Comprehensive Income Income Income (Loss) into Income ​ ​ Three Months ​ Three Months ​ ​ ​ Three Months ​ Three Months ​ ​ Ended ​ Ended ​ ​ ​ Ended ​ Ended ​ March 31, 2020 March 31, 2019 ​ March 31, 2020 March 31, 2019 Fuel contracts ​ $ (198,477) ​ $ 96,508 Fuel ​ $ (6,217) ​ $ 7,518 Fuel contracts ​ ​ — ​ ​ — ​ Other income (expense), net ​ ​ (14,320) ​ ​ — Foreign currency contracts ​ (97,887) ​ (80,278) Depreciation and amortization ​ (1,129) ​ (703) Interest rate contracts ​ (9,496) ​ (1,078) Interest expense, net ​ (333) ​ 185 Total gain (loss) recognized in other comprehensive income ​ $ (305,860) ​ $ 15,152 ​ $ (21,999) ​ $ 7,000 ​ The effects of cash flow hedge accounting on the consolidated statements of operations include the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, 2020 ​ Three Months Ended March 31, 2019 ​ ​ ​ ​ ​ Depreciation ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Depreciation ​ ​ ​ ​ ​ ​ ​ ​ and ​ Interest ​ Other Income ​ ​ ​ ​ and ​ Interest ​ Fuel Amortization Expense, net ( 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 ​ $ 125,024 ​ $ 198,197 ​ $ 68,907 ​ $ 5,823 ​ $ 98,253 ​ $ 169,741 ​ $ 73,503 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amount of gain (loss) reclassified from accumulated other comprehensive income (loss) into income ​ ​ ​ ​ ​ ​ ​ Fuel contracts ​ ​ (6,217) ​ ​ — ​ ​ — ​ ​ — ​ ​ 7,518 ​ ​ — ​ ​ — Foreign currency contracts ​ ​ — ​ ​ (1,129) ​ ​ — ​ ​ — ​ ​ — ​ ​ (703) ​ ​ — Interest rate contracts ​ ​ — ​ ​ — ​ ​ (333) ​ ​ — ​ ​ — ​ ​ — ​ ​ 185 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amount of loss reclassified from accumulated other comprehensive income (loss) into income as a result that a forecasted transaction is no longer probable of occurring ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fuel contracts ​ ​ — ​ ​ — ​ ​ — ​ ​ (14,320) ​ ​ — ​ ​ — ​ ​ — ​ Long-Term Debt As of March 31, 2020 and December 31, 2019, the fair value of our long-term debt, including the current portion, was $8,595.3 million and $6,957.8 million, respectively, which was $156.6 million lower and $31.3 million higher, 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. 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, considered to be Level 2 inputs in the fair value hierarchy. Market risk associated with our long-term variable rate debt is the potential increase in interest expense from an increase in interest rates. Goodwill and Tradenames Goodwill and tradenames are nonfinancial instruments that are measured at fair value on a non-recurring basis. In January 2017, the FASB issued ASU No. 2017-04, Intangibles—Goodwill and Other (Topic 350) — Simplifying the Test for Goodwill Impairment, The Step 1 Test uses discounted future cash flows and other market data to determine the fair value of the reporting units, which are all considered Level 3 inputs. Our discounted cash flow valuation reflects our principal assumptions of 1) forecasted future operating results and growth rates, which have been prepared under multiple scenarios and are probability weighted, 2) forecasted capital expenditures for fleet growth and ship improvements and 3) a weighted average cost of capital of market participants. Historically, our Step 1 Test consisted of a combined approach using discounted future cash flows and market multiples to determine the fair value of the reporting units. However, for the March 31, 2020 Step 1 Test, the market multiples were used solely as a corroboratory approach given the impact of COVID-19 on the current year’s results, as of the valuation date, as well as prospective results including the lack of any guidance provided, which were not available for our peers. We believe that this 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 use the relief from royalty method, which uses the same forecasts and discount rates from the discounted cash flow valuation in the goodwill assessment along with a tradename royalty rate assumption. We believe that we have made reasonable estimates and judgments. However, a change in our estimated future operating cash flows may result in a decline in fair value in future periods, which may result in a need to recognize additional impairment charges. Other The carrying amounts reported in the consolidated balance sheets of all other financial assets and liabilities approximate fair value.

Employee Benefits and Compensat

Employee Benefits and Compensation Plans	3 Months Ended
	Mar. 31, 2020
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Employee Benefits and Compensation Plans	10. Employee Benefits and Compensation Plans Share Option Awards The following is a summary of option activity under NCLH’s Amended and Restated 2013 Performance Incentive Plan for the three months ended March 31, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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, 2020 4,918,554 ​ 115,489 208,333 ​ $ 51.84 ​ $ 59.11 ​ $ 59.43 5.42 ​ $ 33,413 Exercised (48,221) ​ (906) — ​ ​ 44.38 ​ ​ 19.00 ​ ​ — ​ Forfeited and cancelled (25,000) ​ — — ​ ​ 56.19 ​ ​ — ​ ​ — ​ Outstanding as of March 31, 2020 4,845,333 ​ 114,583 208,333 ​ $ 51.89 ​ $ 59.43 ​ $ 59.43 5.18 ​ $ — ​ Restricted Share Unit Awards On March 2, 2020, NCLH granted 2.4 million time-based restricted share unit awards to our employees, which vest in substantially equal annual installments over three years. Additionally, on March 2, 2020, NCLH granted 0.6 million performance-based restricted share units to certain members of our management team, which vest upon the achievement of certain pre-established performance targets established for the 2020 and 2021 calendar years and the satisfaction of an additional time-based vesting requirement that generally requires continued employment through March 1, 2023. The following is a summary of restricted share unit activity for the three months ended March 31, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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, 2020 3,245,625 ​ $ 54.94 1,129,396 ​ $ 56.09 50,000 ​ $ 59.43 Granted 2,392,044 ​ ​ 35.86 611,808 (1) ​ 35.59 — ​ ​ — Vested (1,594,003) ​ ​ 54.20 (181,682) ​ ​ 56.33 — ​ ​ — Forfeited or expired (85,667) ​ ​ 50.85 (17,652) ​ ​ 56.77 — ​ ​ — Non-vested as of March 31, 2020 3,957,999 ​ $ 43.80 1,541,870 ​ $ 47.92 50,000 ​ $ 59.43 (1) Number of performance-based restricted share units included assumes maximum achievement of performance targets. ​ The compensation expense recognized for share-based compensation for the periods presented include the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ March 31, ​ 2020 2019 Payroll and related expense ​ $ 4,702 ​ $ 3,804 Marketing, general and administrative expense ​ 28,056 ​ 23,195 Total share-based compensation expense ​ $ 32,758 ​ $ 26,999 ​

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2020
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	11. Commitments and Contingencies Ship Construction Contracts 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. For the Regent brand, we have an order for one Explorer Class Ship to be delivered in 2023, which will be approximately 55,000 Gross Tons and 750 Berths. For the Oceania Cruises brand, we have orders for two Allura Class Ships to be delivered in 2022 and 2025. Each of the Allura Class Ships will be approximately 67,000 Gross Tons and 1,200 Berths. We expect that the effects of COVID-19 on the shipyards where our ships are under construction (or will be constructed) will result in delays in ship deliveries and such delays may be prolonged. The combined contract prices of the nine ships on order for delivery as of March 31, 2020 was approximately €7.1 billion, or $7.8 billion based on the euro/U.S. dollar exchange rate as of March 31, 2020. We have obtained export credit financing which is expected to fund approximately 80% of the contract price of each ship, subject to certain conditions. We do not anticipate any contractual breaches or cancellations to occur. However, if any such events were to occur, it could result in, among other things, the forfeiture of prior deposits or payments made by us and potential claims and impairment losses which may materially impact our business, financial condition and results of operations. Litigation Class Actions On March 12, 2020, a class action complaint, Eric Douglas v. Norwegian Cruise Lines, Frank J. Del Rio and Mark A. Kempa, Case No. 1:20-CV-21107, was filed in the United States District Court for the Southern District of Florida, naming the Company, Frank J. Del Rio, the Company’s President and Chief Executive Officer, and Mark A. Kempa, the Company’s Executive Vice President and Chief Financial Officer, as defendants. Subsequently, two similar class action complaints were also filed in the United States District Court for the Southern District of Florida naming the same defendants. These complaints assert claims, purportedly brought on behalf of a class of shareholders, under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, and Rule 10b-5 promulgated thereunder, and allege that the Company made false and misleading statements to the market and customers about COVID-19 and the impact on its business. Each of the complaints seek unspecified damages and an award of costs and expenses, including reasonable attorneys’ fees, on behalf of a purported class of purchasers of our ordinary shares between February 20, 2020 and either March 11, 2020 or March 12, 2020. We believe that the allegations contained in the complaints are without merit and intend to defend the complaints vigorously. We cannot predict at this point the length of time that these actions will be ongoing or the liability, if any, which may arise therefrom. ​ In addition, in March 2020 the Florida Attorney General announced an investigation related to the Company’s marketing during the COVID-19 outbreak. Following the announcement of the investigation by the Florida Attorney General, we received notifications from other attorneys general and governmental agencies that they are conducting similar investigations. The Company is cooperating with these ongoing investigations, the outcomes of which cannot be predicted at this time. ​ Helms-Burton Act In August 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. On April 14, 2020, the district court granted Havana Docks Corporation’s motion to reconsider and vacated its order dismissing the claim, allowing Havana Docks Corporation to file an amended complaint on April 16, 2020. On April 24, 2020, we filed a motion seeking permission to appeal the district court’s order. We believe we have meritorious defenses to the claims and intend to vigorously defend these matters. As of March 31, 2020, 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 other claims and lawsuits have been filed or are pending against us. Most of these claims and lawsuits are covered by insurance and, accordingly, the maximum amount of our liability is typically limited to our deductible amount. Nonetheless, the ultimate outcome of these claims and lawsuits that are not covered by insurance cannot be determined at this time. We have evaluated our overall exposure with respect to all of our threatened and pending litigation and, to the extent required, we have accrued amounts for all estimable probable losses associated with our deemed exposure. We are currently unable to estimate any other potential 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 Contingencies ​ The Company also has agreements with its credit card processors that govern approximately $1.3 billion at March 31, 2020 in advance ticket sales that have been received by the Company relating to future voyages. These agreements allow the credit card processors to require under certain circumstances, including the existence of a material adverse change, excessive chargebacks and other triggering events, that the Company maintain a reserve which could be satisfied by posting collateral. The Company is in discussions regarding the nature of collateral, if any, relating to these agreements.

Other Income (Expense), Net

Other Income (Expense), Net	3 Months Ended
	Mar. 31, 2020
Other Income And Expenses [Abstract]
Other Income (Expense), Net	12. Other Income (Expense), Net For the three months ended March 31, 2020, other income (expense), net was income of $5.8 million primarily due to gains from foreign currency exchange offset by losses on fuel hedges released into earnings as a result of the forecasted transactions no longer being probable. For the three months ended March 31, 2019, other income (expense), net was expense of $0.4 million primarily due to foreign currency exchange losses. ​ ​

Income Tax Benefit

Income Tax Benefit	3 Months Ended
	Mar. 31, 2020
Income Tax Disclosure [Abstract]
Income Tax Benefit	13. Income Tax Benefit For the three months ended March 31, 2020 and 2019, we had an income tax benefit of $6.2 million and $33.8 million, respectively. For the three months ended March 31, 2020, the tax benefit is due to operating losses and the reversal of a valuation allowance. During 2018, 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. As a result, we recorded a tax benefit of $35.7 million in connection with the reversal of substantially all of the valuation allowance in March 2019. The Company is currently analyzing the impact of the recent financing transactions on its ability to utilize its net operating losses under Section 382 of the Internal Revenue Code.

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	3 Months Ended
	Mar. 31, 2020
Supplemental Cash Flow Information [Abstract]
Supplemental Cash Flow Information	14. Supplemental Cash Flow Information For the three months ended March 31, 2020 and 2019, we had non-cash investing activities in connection with property and equipment of $12.0 million and $9.8 million, respectively.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2020
Subsequent Events [Abstract]
Subsequent Events	15. Subsequent Events In May 2020, the Company offered 36,363,636 ordinary shares, par value $0.001 per share to the public at a price of $11.00 per share. The underwriters were offered an option to acquire from us up to 5,454,545 additional shares, which they have exercised. Underwriting discounts and commissions were $0.385 per share. The net proceeds from the offering were $443.9 million after deducting the underwriters’ discounts and commissions. ​ Both NCLH and NCLC undertook a number of actions related to debt financing and equity-linked financing, which are described in

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2020
Accounting Policies [Abstract]
Basis of Presentation	Liquidity and Management’s Plan Due to the continued spread of COVID-19, growing travel restrictions and limited access to ports around the world, in March 2020, the Company implemented a voluntary suspension of all cruise voyages across its three brands, which has subsequently been extended through June 30, 2020. On March 14, 2020, concurrent with our and the broader cruise industry’s suspension, the U.S. Centers for Disease Control and Prevention (“CDC”) issued a No Sail Order through April 13, 2020. On April 9, 2020, the CDC modified its existing No Sail Order to extend it until the earliest of (a) the expiration of the Secretary of Health and Human Services’ declaration that COVID-19 constitutes a public health emergency, (b) the date the Director of the CDC rescinds or modifies the No Sail Order or (c) 100 days after the order appears on the Federal Register, which would be July 24, 2020. In addition, the duration of any voluntary suspensions we have implemented and resumption of operations outside of the United States will be dependent, in part, on various travel restrictions and travel bans issued by various countries around the world, as well as the availability of ports around the world. Significant events affecting travel, including COVID-19, typically have an impact on the demand for cruise vacations, with the full extent of the impact generally determined by the length of time the event influences travel decisions. We believe the ongoing effects of COVID-19 on our operations and global bookings have had, and will continue to have, a significant impact on our financial results and liquidity, and such negative impact may continue well beyond the containment of such an outbreak. Due to the unknown duration and extent of the outbreak, travel restrictions and advisories, the potential unavailability of ports and/or destinations, unknown cancellations and timing of redeployments and a general impact on consumer sentiment regarding cruise travel, the full effect on our financial performance cannot be quantified at this time, but we expect to report a net loss for the year ending December 31, 2020. Subsequent to March 31, 2020, we have taken steps to improve our liquidity through securing deferrals of existing debt amortization, including through available export credit agencies and related governments, as discussed more fully under Note 8 – “Long-Term Debt”. The Company has received additional financing through debt and equity transactions totaling $1.95 billion in proceeds after underwriting fees. The Company expects to receive another $400.0 million from the transaction with L Catterton upon the satisfaction of certain customary closing conditions. Refer to Note 15 – “Subsequent Events” for further information on the equity financing. The Company has also undertaken several proactive measures to mitigate the financial and operational impacts of COVID-19, through the reduction of capital expenditures and operating expenses. In accordance with Accounting Standards Update (“ASU”) No. 2014-15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern (Subtopic 205-40) , the Company has evaluated whether there are conditions and events, considered in the aggregate, that raise substantial doubt about the Company’s ability to continue as a going concern within one year after the date that the consolidated financial statements are issued. Based on the actions the Company has taken as described above and our resulting current resources, the Company has alleviated the substantial doubt previously disclosed and has sufficient liquidity to satisfy our obligations over the next twelve months Basis of Presentation The accompanying consolidated financial statements are unaudited and, in our opinion, contain all normal recurring adjustments necessary for a fair statement of the results for the periods presented. Our operations are seasonal and results for interim periods are not necessarily indicative of the results for the entire fiscal year. Historically, demand for cruises has been strongest during the Northern Hemisphere’s summer months, although demand for cruises during the summer months of 2020 are expected to continue to be adversely impacted by the COVID-19 pandemic. The interim consolidated financial statements should be read in conjunction with the audited consolidated financial statements for the year ended December 31, 2019, which are included in our most recent Annual Report on Form 10-K filed with the SEC, as updated by our Current Report on Form 8-K filed on May 5, 2020.
Reclassifications	Reclassifications Certain amounts in prior periods have been reclassified to conform to the current period presentation.
Earnings Per Share	Earnings Per Share A reconciliation between basic and diluted earnings per share was as follows (in thousands, except share and per share data): ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ March 31, ​ 2020 2019 Net income (loss) ​ $ (1,880,972) ​ $ 118,157 Basic weighted-average shares outstanding ​ 213,630,798 ​ 217,241,473 Dilutive effect of share awards ​ — ​ 1,631,799 Diluted weighted-average shares outstanding ​ 213,630,798 ​ 218,873,272 Basic earnings (loss) per share ​ $ (8.80) ​ $ 0.54 Diluted earnings (loss) per share ​ $ (8.80) ​ $ 0.54 ​ For the three months ended March 31, 2020 and 2019, a total of 7.0 million and 5.5 million shares, respectively, have been excluded from diluted weighted-average shares outstanding because the effect of including them would have been anti-dilutive.
Foreign Currency	Foreign Currency The majority of our transactions are settled in U.S. dollars. We remeasure assets and liabilities denominated in foreign currencies at exchange rates in effect at the balance sheet date. Gains or losses resulting from transactions denominated in other currencies are recognized in our consolidated statements of operations within other income, net. We recognized a gain of $19.9 million and a loss of $1.0 million for the three months ended March 31, 2020 and 2019, respectively, related to transactions denominated in other currencies.
Depreciation and Amortization Expense	Depreciation and Amortization Expense The amortization of deferred financing fees is included in depreciation and amortization expense in the consolidated statements of cash flows; however, for purposes of the consolidated statements of operations they are included in interest expense, net.
Recently Issued Accounting Guidance	Recently Issued Accounting Guidance In March 2020, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting (“ASU 2020-04”), which provided guidance to alleviate the burden in accounting for reference rate reform by allowing certain expedients and exceptions in applying GAAP to contracts, hedging relationships and other transactions impacted by reference rate reform. The provisions apply only to those transactions that reference LIBOR or another reference rate expected to be discontinued due to reference rate reform. Adoption of the provisions of ASU 2020-04 are optional and are effective from March 12, 2020 through December 31, 2022. We are currently evaluating the impact of ASU 2020-04 on our consolidated financial statements.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2020
Accounting Policies [Abstract]
Schedule of reconciliation between basic and diluted EPS	A reconciliation between basic and diluted earnings per share was as follows (in thousands, except share and per share data): ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ March 31, ​ 2020 2019 Net income (loss) ​ $ (1,880,972) ​ $ 118,157 Basic weighted-average shares outstanding ​ 213,630,798 ​ 217,241,473 Dilutive effect of share awards ​ — ​ 1,631,799 Diluted weighted-average shares outstanding ​ 213,630,798 ​ 218,873,272 Basic earnings (loss) per share ​ $ (8.80) ​ $ 0.54 Diluted earnings (loss) per share ​ $ (8.80) ​ $ 0.54

Revenue Recognition (Tables)

Revenue Recognition (Tables)	3 Months Ended
	Mar. 31, 2020
Revenue from Contract with Customer [Abstract]
Schedule of revenues by destination	Revenue and cash flows are affected by economic factors in various geographical regions. Revenues by destination were as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ March 31, ​ 2020 2019 North America ​ $ 951,056 ​ $ 982,989 Europe ​ 13,335 ​ 33,752 Asia-Pacific ​ 150,921 ​ 222,767 South America ​ ​ 76,306 ​ ​ 90,303 Other ​ 55,264 ​ 73,819 Total revenue ​ $ 1,246,882 ​ $ 1,403,630

Intangible Assets (Tables)

Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of changes in the carrying amount of goodwill for each reporting unit	The changes in the carrying amount of goodwill for each reporting unit for the three months ended March 31, 2020 are as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Reporting Unit ​ ​ ​ ​ ​ Norwegian ​ ​ ​ Regent ​ ​ ​ ​ Cruise ​ Oceania ​ Seven Seas ​ Total ​ ​ Line Cruises Cruises Goodwill Balance, December 31, 2019 $ 403,805 ​ $ 523,026 ​ $ 462,100 ​ $ 1,388,931 Impairment loss ​ (403,805) ​ (523,026) ​ (363,966) ​ (1,290,797) Balance, March 31, 2020 ​ $ — ​ $ — ​ $ 98,134 ​ $ 98,134
Schedule of gross carrying amounts of intangible assets, related accumulated amortization and the weighted average amortization periods of intangible assets	average amortization periods of the Company’s intangible assets are listed in the following tables (in thousands, except amortization period): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted- ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Average ​ ​ Gross Carrying ​ Accumulated ​ Net Carrying ​ Amortization ​ Amount Amortization Amount Period (Years) Customer relationships ​ $ 120,000 ​ $ (112,943) ​ $ 7,057 6.0 License ​ 750 ​ (350) ​ 400 10.0 Total intangible assets subject to amortization ​ $ 120,750 ​ $ (113,293) ​ $ 7,457 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 Licenses ​ 750 ​ (331) ​ 419 10.0 Total intangible assets subject to amortization ​ $ 120,750 ​ $ (110,500) ​ $ 10,250 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Schedule of aggregate amortization expense	The aggregate amortization expense for intangible assets is as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ March 31, ​ 2020 2019 Amortization expense ​ $ 2,793 ​ $ 4,622
Schedule of estimated aggregate amortization expense	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 2021 ​ $ 75 2022 ​ ​ 75 2023 ​ ​ 75 2024 ​ ​ 75 2025 ​ ​ 44

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2020
Leases [Abstract]
Schedule of lease balances	Lease balances were as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance Sheet location March 31, 2020 December 31, 2019 Operating leases ​ ​ ​ Right-of-use assets Other long-term assets ​ $ 229,588 ​ $ 236,604 Current operating lease liabilities Accrued expenses and other liabilities ​ ​ 23,874 ​ ​ 39,126 Non-current operating lease liabilities Other long-term liabilities ​ ​ 200,428 ​ ​ 207,243 ​ ​ ​ ​ ​ ​ ​ ​ ​ Finance leases ​ ​ ​ ​ Right-of-use assets Property and equipment, net ​ ​ 13,386 ​ ​ 13,873 Current finance lease liabilities Current portion of long-term debt ​ ​ 5,304 ​ ​ 6,419 Non-current finance lease liabilities Long-term debt ​ ​ 7,895 ​ ​ 8,812

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	3 Months Ended
	Mar. 31, 2020
Statement of Comprehensive Income [Abstract]
Schedule of accumulated other comprehensive income (loss)	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, 2020 ​ ​ ​ ​ ​ ​ ​ 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 ​ $ (295,490) ​ $ (289,362) ​ $ (6,128) Current period other comprehensive loss before reclassifications ​ (305,860) ​ (305,860) — Amounts reclassified into earnings ​ 22,101 ​ 21,999 (1) 102 (2) Accumulated other comprehensive income (loss) at end of period ​ $ (579,249) ​ $ (573,223) (3) $ (6,026) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 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 $ (161,647) ​ $ (157,449) ​ $ (4,198) Current period other comprehensive income before reclassifications 15,152 15,152 — Amounts reclassified into earnings (6,905) (7,000) (1) 95 (2) Accumulated other comprehensive income (loss) at end of period $ (153,400) $ (149,297) ​ $ (4,103)

Long-Term Debt (Tables)

Long-Term Debt (Tables)	3 Months Ended
	Mar. 31, 2020
Debt Disclosure [Abstract]
Schedule of debt instrument interest rate	​ ​ ​ ​ ​ ​ ​ Margin ​ €529.8 million Breakaway one loan (Norwegian Breakaway) ​ 0.90 % €529.8 million Breakaway two loan (Norwegian Getaway) ​ 1.20 % €590.5 million Breakaway three loan (Norwegian Escape) ​ 1.50 % €729.9 million Breakaway four loan (Norwegian Joy) ​ 1.50 % €710.8 million Seahawk 1 term loan (Norwegian Bliss) ​ 1.00 % €748.7 million Seahawk 2 term loan (Norwegian Encore) ​ 1.00 %
Schedule of principal repayments on long-term debt including finance lease obligations	​ ​ ​ ​ ​ Year Amount April 1, 2020 - March 31, 2021 ​ $ 173,797 April 1, 2021 - March 31, 2022 ​ 1,742,815 April 1, 2022 - March 31, 2023 ​ 872,491 April 1, 2023 - March 31, 2024 ​ 2,819,592 April 1, 2024 - March 31, 2025 ​ 1,147,007 Thereafter ​ 1,996,325 Total ​ $ 8,752,027

Fair Value Measurements and D_2

Fair Value Measurements and Derivatives (Tables)	3 Months Ended
	Mar. 31, 2020
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Schedule of derivatives measured at fair value and disclosed by balance sheet location	The derivatives measured at fair value and the respective location in the consolidated balance sheets include the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Assets ​ Liabilities ​ ​ ​ ​ March 31, ​ December 31, ​ March 31, ​ December 31, ​ Balance Sheet Location 2020 2019 2020 2019 Derivative Contracts Designated as Hedging Instruments ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fuel contracts ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other long-term assets ​ $ — ​ $ 277 ​ $ — ​ $ — ​ ​ Accrued expenses and other liabilities ​ — ​ 2,300 ​ 93,109 ​ 18,257 ​ ​ Other long-term liabilities ​ — ​ 683 ​ 110,085 ​ 17,763 Foreign currency contracts ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other long-term assets ​ 1,411 ​ — ​ — ​ — ​ ​ Accrued expenses and other liabilities ​ — ​ — ​ 15,581 ​ 33,475 ​ ​ Other long-term liabilities ​ — ​ 169 ​ 206,917 ​ 118,500 Interest rate contracts ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accrued expenses and other liabilities ​ — ​ — ​ 7,790 ​ 2,178 ​ ​ Other long-term liabilities ​ ​ — ​ — ​ 4,690 ​ ​ 1,861 Total derivatives designated as hedging instruments ​ $ 1,411 ​ $ 3,429 ​ $ 438,172 ​ $ 192,034 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivative Contracts Not Designated as Hedging Instruments ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fuel contracts ​ Accrued expenses and other liabilities ​ $ — ​ $ — ​ $ 13,619 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total derivatives not designated as hedging instruments ​ $ — ​ $ — ​ $ 13,619 ​ $ — Total derivatives ​ ​ ​ $ 1,411 ​ $ 3,429 ​ $ 451,791 ​ $ 192,034
Schedule of gross and net amounts recognized within assets and liabilities	The following table discloses the gross and net amounts recognized within assets and liabilities (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross ​ ​ ​ ​ Gross ​ ​ ​ ​ ​ Gross ​ Amounts ​ Total Net ​ Amounts ​ ​ ​ March 31, 2020 Amounts Offset Amounts Not Offset Net Amounts Assets ​ $ 1,411 ​ $ — ​ $ 1,411 ​ $ (1,411) ​ $ — Liabilities ​ ​ 451,791 ​ ​ — ​ ​ 451,791 ​ ​ (451,791) ​ ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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
Schedule of cash flow hedge accounting on accumulated other comprehensive income (loss)	The effects of cash flow hedge accounting on accumulated other comprehensive income (loss) were as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Location of Gain ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (Loss) Reclassified ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ from Accumulated ​ Amount of Gain (Loss) Reclassified ​ ​ Amount of Gain (Loss) ​ Other Comprehensive ​ from Accumulated Other ​ ​ Recognized in Other ​ Income (Loss) into ​ Comprehensive Derivatives Comprehensive Income Income Income (Loss) into Income ​ ​ Three Months ​ Three Months ​ ​ ​ Three Months ​ Three Months ​ ​ Ended ​ Ended ​ ​ ​ Ended ​ Ended ​ March 31, 2020 March 31, 2019 ​ March 31, 2020 March 31, 2019 Fuel contracts ​ $ (198,477) ​ $ 96,508 Fuel ​ $ (6,217) ​ $ 7,518 Fuel contracts ​ ​ — ​ ​ — ​ Other income (expense), net ​ ​ (14,320) ​ ​ — Foreign currency contracts ​ (97,887) ​ (80,278) Depreciation and amortization ​ (1,129) ​ (703) Interest rate contracts ​ (9,496) ​ (1,078) Interest expense, net ​ (333) ​ 185 Total gain (loss) recognized in other comprehensive income ​ $ (305,860) ​ $ 15,152 ​ $ (21,999) ​ $ 7,000
Schedule of cash flow hedge accounting on the consolidated financial statements of operations	The effects of cash flow hedge accounting on the consolidated statements of operations include the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, 2020 ​ Three Months Ended March 31, 2019 ​ ​ ​ ​ ​ Depreciation ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Depreciation ​ ​ ​ ​ ​ ​ ​ ​ and ​ Interest ​ Other Income ​ ​ ​ ​ and ​ Interest ​ Fuel Amortization Expense, net ( 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 ​ $ 125,024 ​ $ 198,197 ​ $ 68,907 ​ $ 5,823 ​ $ 98,253 ​ $ 169,741 ​ $ 73,503 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amount of gain (loss) reclassified from accumulated other comprehensive income (loss) into income ​ ​ ​ ​ ​ ​ ​ Fuel contracts ​ ​ (6,217) ​ ​ — ​ ​ — ​ ​ — ​ ​ 7,518 ​ ​ — ​ ​ — Foreign currency contracts ​ ​ — ​ ​ (1,129) ​ ​ — ​ ​ — ​ ​ — ​ ​ (703) ​ ​ — Interest rate contracts ​ ​ — ​ ​ — ​ ​ (333) ​ ​ — ​ ​ — ​ ​ — ​ ​ 185 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amount of loss reclassified from accumulated other comprehensive income (loss) into income as a result that a forecasted transaction is no longer probable of occurring ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fuel contracts ​ ​ — ​ ​ — ​ ​ — ​ ​ (14,320) ​ ​ — ​ ​ — ​ ​ —

Employee Benefits and Compens_2

Employee Benefits and Compensation Plans (Tables)	3 Months Ended
	Mar. 31, 2020
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
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, 2020 4,918,554 ​ 115,489 208,333 ​ $ 51.84 ​ $ 59.11 ​ $ 59.43 5.42 ​ $ 33,413 Exercised (48,221) ​ (906) — ​ ​ 44.38 ​ ​ 19.00 ​ ​ — ​ Forfeited and cancelled (25,000) ​ — — ​ ​ 56.19 ​ ​ — ​ ​ — ​ Outstanding as of March 31, 2020 4,845,333 ​ 114,583 208,333 ​ $ 51.89 ​ $ 59.43 ​ $ 59.43 5.18 ​ $ —
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, 2020 3,245,625 ​ $ 54.94 1,129,396 ​ $ 56.09 50,000 ​ $ 59.43 Granted 2,392,044 ​ ​ 35.86 611,808 (1) ​ 35.59 — ​ ​ — Vested (1,594,003) ​ ​ 54.20 (181,682) ​ ​ 56.33 — ​ ​ — Forfeited or expired (85,667) ​ ​ 50.85 (17,652) ​ ​ 56.77 — ​ ​ — Non-vested as of March 31, 2020 3,957,999 ​ $ 43.80 1,541,870 ​ $ 47.92 50,000 ​ $ 59.43 (1) Number of performance-based restricted share units included assumes maximum achievement of performance targets.
Schedule of compensation expense recognized for share-based compensation	The compensation expense recognized for share-based compensation for the periods presented include the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ March 31, ​ 2020 2019 Payroll and related expense ​ $ 4,702 ​ $ 3,804 Marketing, general and administrative expense ​ 28,056 ​ 23,195 Total share-based compensation expense ​ $ 32,758 ​ $ 26,999

Description of Business and O_2

Description of Business and Organization (Details)	Mar. 31, 2020item
Description Of Business And Organization [Line Items]
Number of cruises ships	28
Capacity of ship, berths	59,150
Ships Launching Period Through 2027
Description Of Business And Organization [Line Items]
Number of additional ships	9
Increased number of berths	82,000
Ships Launching Period In 2022 And 2027 | Project Leonardo Ships
Description Of Business And Organization [Line Items]
Number of additional ships	6
Ships Launching Period Through 2022 And 2025
Description Of Business And Organization [Line Items]
Number of additional ships	2
Ships Launching Winter 2020 and Fall 2023
Description Of Business And Organization [Line Items]
Number of additional ships	1

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Liquidity and Management's Plan (Details) - USD ($) $ in Millions	2 Months Ended	3 Months Ended
	May 31, 2020	Mar. 31, 2020
Debt Instrument [Line Items]
Proceeds from debt and equity financing	$ 1,950
Substantial Doubt about Going Concern, within One Year [true false]		false
Forecast
Debt Instrument [Line Items]
Proceeds from debt and equity financing	$ 400

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Reconciliation between Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Earnings Per Share [Abstract]
Net income (loss)	$ (1,880,972)	$ 118,157
Basic weighted-average shares outstanding	213,630,798	217,241,473
Dilutive effect of share awards		1,631,799
Diluted weighted-average shares outstanding	213,630,798	218,873,272
Basic earnings (loss) per share (in dollars per share)	$ (8.80)	$ 0.54
Diluted earnings (loss) per share (in dollars per share)	$ (8.80)	$ 0.54

Summary of Significant Accoun_6

Summary of Significant Accounting Policies (Details) - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Accounting Policies [Abstract]
Antidilutive securities excluded from computation of earnings per share	7	5.5
Foreign currency transaction (gains) losses	$ 19.9	$ 1

Revenue Recognition - Disaggreg

Revenue Recognition - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total revenue	$ 1,246,882	$ 1,403,630
North America
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total revenue	951,056	982,989
Europe
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total revenue	13,335	33,752
Asia-Pacific
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total revenue	150,921	222,767
South America
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total revenue	76,306	90,303
Other
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total revenue	$ 55,264	$ 73,819

Revenue Recognition (Details)

Revenue Recognition (Details) $ in Millions	3 Months Ended
	Mar. 31, 2020USD ($)segment	Dec. 31, 2019USD ($)
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Number of reportable segments | segment	1
Receivables from customers included in accounts receivable, net	$ 17.3	$ 15.3
Advanced ticket sales	$ 200	$ 1,400
Percentage refundable on cancellation	60.00%
Revenue recognized included in contract liability	$ 900
Costs to obtain contract	$ 92
Revenue
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Concentration risk, benchmark	No other individual country’s revenues exceed 10% in any given period.
Revenue | Minimum
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Percentage of revenue attributable to U.S.- sourced passengers	75.00%
Revenue | Maximum
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Percentage of revenue attributable to U.S.- sourced passengers	80.00%

Intangible Assets - Changes in

Intangible Assets - Changes in Carrying Amount of Goodwill (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Goodwill [Line Items]
Balance	$ 1,388,931
Impairment loss	(1,290,797)
Balance	98,134
Tradenames	500,525	$ 817,525
Norwegian Cruise Line
Goodwill [Line Items]
Balance	403,805
Impairment loss	(403,805)
Oceania Cruises
Goodwill [Line Items]
Balance	523,026
Impairment loss	(523,026)
Impairment of tradenames	170,000
Regent Seven Seas Cruises
Goodwill [Line Items]
Balance	462,100
Impairment loss	(363,966)
Balance	98,134
Impairment of tradenames	$ 147,000

Intangible Assets - Schedule of

Intangible Assets - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Schedule Of Intangible Assets [Line Items]
Gross Carrying Amount	$ 120,750	$ 120,750
Accumulated Amortization	(113,293)	(110,500)
Net Carrying Amount	7,457	10,250
Customer relationships
Schedule Of Intangible Assets [Line Items]
Gross Carrying Amount	120,000	120,000
Accumulated Amortization	(112,943)	(110,169)
Net Carrying Amount	$ 7,057	$ 9,831
Weighted- Average Amortization Period (Years)	6 years	6 years
Licenses
Schedule Of Intangible Assets [Line Items]
Gross Carrying Amount	$ 750	$ 750
Accumulated Amortization	(350)	(331)
Net Carrying Amount	$ 400	$ 419
Weighted- Average Amortization Period (Years)	10 years	10 years

Intangible Assets - Amortizatio

Intangible Assets - Amortization Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense	$ 2,793	$ 4,622

Intangible Assets - Future Esti

Intangible Assets - Future Estimated Amortization Expense (Details) $ in Thousands	Mar. 31, 2020USD ($)
Amortization Expense
2021	$ 75
2022	75
2023	75
2024	75
2025	$ 44

Leases (Details)

Leases (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Other long-term assets
Operating leases
Right-of-use assets	$ 229,588	$ 236,604
Operating lease, right-of-use asset - Extensible List	us-gaap:OtherAssetsNoncurrent
Accrued expenses and other liabilities
Operating leases
Current operating lease liabilities	$ 23,874	39,126
Operating lease liability, current - Extensible list	nclh:AccruedLiabilitiesAndOtherLiabilitiesCurrent
Other long-term liabilities
Operating leases
Non-current operating lease liabilities	$ 200,428	207,243
Operating lease liability, non current - Extensible list	us-gaap:OtherLiabilitiesNoncurrent
Property and equipment, net
Finance leases
Right-of-use assets	$ 13,386	13,873
Finance lease, right-of-use asset - Extensible List	us-gaap:PropertyPlantAndEquipmentNet
Current portion of long-term debt
Finance leases
Current finance lease liabilities	$ 5,304	6,419
Finance lease liability, current - Extensible list	us-gaap:LongTermDebtAndCapitalLeaseObligationsCurrent
Long-term debt.
Finance leases
Non-current finance lease liabilities	$ 7,895	$ 8,812
Finance lease liability, noncurrent - Extensible list	us-gaap:LongTermDebtAndCapitalLeaseObligations

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Accumulated other comprehensive income (loss) at beginning of period	$ (295,490)	$ (161,647)
Current period other comprehensive income (loss) before reclassifications	(305,860)	15,152
Amounts reclassified into earnings	22,101	(6,905)
Accumulated other comprehensive income (loss) at end of period	(579,249)	(153,400)
Change Related to Cash Flow Hedges
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Accumulated other comprehensive income (loss) at beginning of period	(289,362)	(157,449)
Current period other comprehensive income (loss) before reclassifications	(305,860)	15,152
Amounts reclassified into earnings	21,999	(7,000)
Accumulated other comprehensive income (loss) at end of period	(573,223)	(149,297)
Amount of loss expected to be reclassified into earnings	107,600
Change Related to Shipboard Retirement Plan
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Accumulated other comprehensive income (loss) at beginning of period	(6,128)	(4,198)
Amounts reclassified into earnings	102	95
Accumulated other comprehensive income (loss) at end of period	$ (6,026)	$ (4,103)

Property and Equipment, net (De

Property and Equipment, net (Details) $ in Millions	3 Months Ended
	Mar. 31, 2020USD ($)
Property Plant And Equipment [Abstract]
Property plant and equipment net increase due to ship improvement projects	$ 432.2
Impairments	$ 25.4

Long-Term Debt (Details)

Long-Term Debt (Details) $ / shares in Units, € in Millions	May 08, 2020	May 31, 2020USD ($)D$ / shares	Apr. 30, 2020EUR (€)installment	Mar. 31, 2020USD ($)	Mar. 31, 2020USD ($)	Apr. 30, 2020USD ($)
Debt Instrument [Line Items]
Long term-debt, reclassified				$ 1,400,000,000	$ 1,400,000,000
Export Credit Backed Securities
Debt Instrument [Line Items]
Number of installments for amortization | installment			8
$675 Million Senior Secured Revolving Loan Facility
Debt Instrument [Line Items]
Principal amount outstanding				675,000,000	675,000,000
Maximum borrowing capacity				$ 675,000,000	675,000,000
$675 Million Senior Secured Revolving Loan Facility | LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate				0.80%
$675 Million Senior Secured Revolving Loan Facility | Eurocurrency Loans | LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate				1.75%
$675 Million Senior Secured Revolving Loan Facility | Base Rate Loans | Base rate loans
Debt Instrument [Line Items]
Basis spread on variable rate				0.75%
$260 Million Norwegian Jewel Term Loan
Debt Instrument [Line Items]
Principal amount		$ 260,000,000
Private Exchangeable Notes
Debt Instrument [Line Items]
Redemption price as a percentage of face amount		100.00%
Percentage of share price on debt instrument		250.00%
Number of specified trading days | D		20
Number of consecutive trading days | D		30
Debt instrument amount		$ 1,000
Ordinary share exchange rate		0.0826446
Initial exchange price | $ / shares		$ 12.10
Debt Instrument, Redemption Price, Percentage		100.00%
Export Credit Backed Securities
Debt Instrument [Line Items]
Debt holiday period			12 months
EUR 529.8 Million Breakaway One Loan
Debt Instrument [Line Items]
Principal amount | €			€ 529.8
EUR 529.8 Million Breakaway One Loan | Six Months London Interbank Offered Rate Libor
Debt Instrument [Line Items]
Basis spread on variable rate			0.90%
EUR 529.8 Million Breakaway Two Loan
Debt Instrument [Line Items]
Principal amount | €			€ 529.8
EUR 529.8 Million Breakaway Two Loan | Six Months London Interbank Offered Rate Libor
Debt Instrument [Line Items]
Basis spread on variable rate			1.20%
EUR 590.5 Million Breakaway Three Loan
Debt Instrument [Line Items]
Principal amount | €			€ 590.5
EUR 590.5 Million Breakaway Three Loan | Six Months London Interbank Offered Rate Libor
Debt Instrument [Line Items]
Basis spread on variable rate			1.50%
EUR 729.9 Million Breakaway Four Loan
Debt Instrument [Line Items]
Principal amount | €			€ 729.9
EUR 729.9 Million Breakaway Four Loan | Six Months London Interbank Offered Rate Libor
Debt Instrument [Line Items]
Basis spread on variable rate			1.50%
EUR 710.8 Million Seahawk 1 Term Loan
Debt Instrument [Line Items]
Principal amount | €			€ 710.8
EUR 710.8 Million Seahawk 1 Term Loan | Six Months London Interbank Offered Rate Libor
Debt Instrument [Line Items]
Basis spread on variable rate			1.00%
EUR 748.7 Million Seahawk 2 Term Loan
Debt Instrument [Line Items]
Principal amount | €			€ 748.7
EUR 748.7 Million Seahawk 2 Term Loan | Six Months London Interbank Offered Rate Libor
Debt Instrument [Line Items]
Basis spread on variable rate			1.00%
Subsequent Event | Export Credit Backed Securities
Debt Instrument [Line Items]
Principal amount outstanding						$ 386,000,000
Subsequent Event | $230 Pride of America Term Loan
Debt Instrument [Line Items]
Deferred term			1 year
Principal amount						$ 230,000,000
Subsequent Event | $230 Pride of America Term Loan | Eurocurrency Loans | LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate			1.75%
Subsequent Event | $230 Pride of America Term Loan | Base Rate Loans | Base rate loans
Debt Instrument [Line Items]
Basis spread on variable rate			0.75%
Subsequent Event | $260 Million Norwegian Jewel Term Loan
Debt Instrument [Line Items]
Annual debt repayment rate		25
Subsequent Event | $260 Million Norwegian Jewel Term Loan | Eurocurrency Loans | LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate		2.50%
Subsequent Event | $260 Million Norwegian Jewel Term Loan | Base Rate Loans | Base rate loans
Debt Instrument [Line Items]
Basis spread on variable rate		1.50%
Subsequent Event | Private Exchangeable Notes
Debt Instrument [Line Items]
Principal amount		$ 400,000,000
Subsequent Event | Private Exchangeable Notes | Accreted Interest [Member] | Debt Instrument, First Year Post Issuance
Debt Instrument [Line Items]
Interest Rate		7.00%
Subsequent Event | Private Exchangeable Notes | Accreted Interest [Member] | Debt Instrument, Four Years Following First Year Post Issuance
Debt Instrument [Line Items]
Interest Rate		4.50%
Subsequent Event | Private Exchangeable Notes | Cash Interest | Debt Instrument, Four Years Following First Year Post Issuance
Debt Instrument [Line Items]
Interest Rate		3.00%
Subsequent Event | Private Exchangeable Notes | Cash Interest | Debt Instrument, Final Year Prior To Maturity
Debt Instrument [Line Items]
Interest Rate		7.50%
Subsequent Event | Senior Secured Notes Due 2024
Debt Instrument [Line Items]
Principal amount		$ 675,000,000
Original issue discount and private offering		99.00%
Interest Rate		12.25%
Percentage of principal amount of debt redeemed		35.00%
Percentage of thresholds, after percentage		65.00%
Subsequent Event | Senior Secured Notes Due 2024 | Debt Redemption Prior To February 15, 2024
Debt Instrument [Line Items]
Redemption price as a percentage of face amount		100.00%
Debt Instrument, Redemption Price, Percentage		100.00%
Subsequent Event | Senior Secured Notes Due 2024 | Debt Redemption On Or After February 15, 2024
Debt Instrument [Line Items]
Redemption price as a percentage of face amount		100.00%
Debt Instrument, Redemption Price, Percentage		100.00%
Subsequent Event | Senior Secured Notes Due 2024 | Debt Redemption Prior To February 15, 2022
Debt Instrument [Line Items]
Redemption price as a percentage of face amount		112.25%
Debt Instrument, Redemption Price, Percentage		112.25%
Subsequent Event | Exchangeable Senior Secured Notes Due 2024
Debt Instrument [Line Items]
Principal amount		$ 862,500,000
Interest Rate		6.00%
Debt instrument amount		$ 1,000
Ordinary share exchange rate		0.0727273
Initial exchange price | $ / shares		$ 13.75
Subsequent Event | Deferred Term A Loans | Fifth Amended And Restated Credit Agreement
Debt Instrument [Line Items]
Percentage of outstanding loans held by lender	87.57%
Annual debt repayment rate	25
Subsequent Event | Deferred Term A Loans | Fifth Amended And Restated Credit Agreement | Eurocurrency Loans | LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate	2.50%
Subsequent Event | Deferred Term A Loans | Fifth Amended And Restated Credit Agreement | Base Rate Loans | Base rate loans
Debt Instrument [Line Items]
Basis spread on variable rate	1.50%
NCLC | $875.0 Million Senior Secured Revolving Loan Facility
Debt Instrument [Line Items]
Principal amount outstanding				$ 875,000,000	$ 875,000,000
NCLC | $875.0 Million Senior Secured Revolving Loan Facility | LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate					1.25%

Long-Term Debt - Summary of Sch

Long-Term Debt - Summary of Scheduled Principal Repayments on Long-Term Debt Including Finance Lease Obligations (Details) $ in Thousands	Mar. 31, 2020USD ($)
Long Term Debt And Finance Lease Obligations Rolling Maturity [Abstract]
April 1, 2020 - March 31, 2021	$ 173,797
April 1, 2021 - March 31, 2022	1,742,815
April 1, 2022 - March 31, 2023	872,491
April 1, 2023 - March 31, 2024	2,819,592
April 1, 2024 - March 31, 2025	1,147,007
Thereafter	1,996,325
Total	$ 8,752,027

Fair Value Measurements and D_3

Fair Value Measurements and Derivatives - Derivatives Measured at Fair Value and Disclosed by Balance Sheet Location (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Derivatives, Fair Value [Line Items]
Derivative assets, fair value	$ 1,411	$ 277
Derivative liabilities, fair value	451,791	192,034
Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Derivative assets, fair value	1,411	3,429
Derivative liabilities, fair value	438,172	192,034
Derivative Contracts Not Designated as Hedging Instruments
Derivatives, Fair Value [Line Items]
Derivative assets, fair value	0	0
Derivative liabilities, fair value	13,619	0
Fuel contracts | Designated as Hedging Instrument | Other long-term assets
Derivatives, Fair Value [Line Items]
Derivative assets, fair value	0	277
Derivative liabilities, fair value	0	0
Fuel contracts | Designated as Hedging Instrument | Accrued expenses and other liabilities
Derivatives, Fair Value [Line Items]
Derivative assets, fair value	0	2,300
Derivative liabilities, fair value	93,109	18,257
Fuel contracts | Designated as Hedging Instrument | Other long-term liabilities
Derivatives, Fair Value [Line Items]
Derivative assets, fair value	0	683
Derivative liabilities, fair value	110,085	17,763
Fuel contracts | Derivative Contracts Not Designated as Hedging Instruments | Accrued expenses and other liabilities
Derivatives, Fair Value [Line Items]
Derivative assets, fair value	0	0
Derivative liabilities, fair value	13,619	0
Foreign currency contracts | Designated as Hedging Instrument | Other long-term assets
Derivatives, Fair Value [Line Items]
Derivative assets, fair value	1,411	0
Derivative liabilities, fair value	0	0
Foreign currency contracts | Designated as Hedging Instrument | Accrued expenses and other liabilities
Derivatives, Fair Value [Line Items]
Derivative assets, fair value	0	0
Derivative liabilities, fair value	15,581	33,475
Foreign currency contracts | Designated as Hedging Instrument | Other long-term liabilities
Derivatives, Fair Value [Line Items]
Derivative assets, fair value	0	169
Derivative liabilities, fair value	206,917	118,500
Interest Rate Swap [Member] | Designated as Hedging Instrument | Accrued expenses and other liabilities
Derivatives, Fair Value [Line Items]
Derivative assets, fair value	0	0
Derivative liabilities, fair value	7,790	2,178
Interest Rate Swap [Member] | Designated as Hedging Instrument | Other long-term liabilities
Derivatives, Fair Value [Line Items]
Derivative assets, fair value	0	0
Derivative liabilities, fair value	4,690	1,861
Total derivatives
Derivatives, Fair Value [Line Items]
Derivative assets, fair value	1,411	3,429
Derivative liabilities, fair value	$ 451,791	$ 192,034

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	Mar. 31, 2020	Dec. 31, 2019
Fair Value Disclosures [Abstract]
Gross Amounts, Assets	$ 1,411	$ 277
Total Net Amounts, Assets	1,411	277
Gross Amounts Not Offset, Assets	(1,411)
Net Amounts, Assets		277
Gross Amounts, Liabilities	451,791	192,034
Gross Amounts Offset, Liabilities		(3,152)
Total Net Amounts, Liabilities	451,791	188,882
Gross Amounts Not Offset, Liabilities	$ (451,791)	(149,863)
Net Amounts, Liabilities		$ 39,019

Fair Value Measurements and D_5

Fair Value Measurements and Derivatives - Effects of Derivatives Designated as Cash Flow Hedges (Details) - Cash Flow Hedging - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in Other Comprehensive Income	$ (305,860)	$ 15,152
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income	(21,999)	7,000
Fuel contracts | Fuel
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in Other Comprehensive Income	(198,477)	96,508
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income	(6,217)	7,518
Fuel contracts | Other income (expense), net
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income	(14,320)
Foreign currency contracts | Depreciation and amortization
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in Other Comprehensive Income	(97,887)	(80,278)
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income	(1,129)	(703)
Interest Rate Swap [Member] | Interest expense, net
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in Other Comprehensive Income	(9,496)	(1,078)
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income	$ (333)	$ 185

Fair Value Measurements and D_6

Fair Value Measurements and Derivatives - Effects of Cash Flow Hedge Accounting on Consolidated Statements of Operations (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Derivative Instruments Gain Loss [Line Items]
Fuel	$ 125,024	$ 98,253
Depreciation and amortization	198,197	169,741
Interest expense, net	68,907	73,503
Other income (expense), net	5,823	(434)
Cash Flow Hedging
Derivative Instruments Gain Loss [Line Items]
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income	(21,999)	7,000
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	(6,217)	7,518
Cash Flow Hedging | Fuel contracts | Other income (expense), net
Derivative Instruments Gain Loss [Line Items]
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income	(14,320)
Cash Flow Hedging | Fuel contracts | Other (Income) Expense, net
Derivative Instruments Gain Loss [Line Items]
Other income (expense), net	(14,320)
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	(1,129)	(703)
Cash Flow Hedging | Interest Rate Swap [Member] | Interest expense, net
Derivative Instruments Gain Loss [Line Items]
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income	$ (333)	$ 185

Fair Value Measurements and D_7

Fair Value Measurements and Derivatives (Details) kT in Thousands, MT in Millions, $ in Millions, € in Billions	3 Months Ended
	Mar. 31, 2020EUR (€)MTkT	Mar. 31, 2020USD ($)MTkT	Dec. 31, 2019USD ($)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of long-term debt		$ 8,595.3	$ 6,957.8
Fair value of long-term debt in excess of carrying value		$ 156.6	$ 31.3
Fuel swaps
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative maturing date	Dec. 31, 2023
Projected fuel purchases | MT	1.2	1.2
Fuel swaps | Derivative Contracts Not Designated as Hedging Instruments
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative maturing date	Oct. 31, 2020
Projected fuel purchases | kT	68	68
Foreign currency contracts
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notional amount of derivatives	€ 2	$ 2,200
Interest Rate Swap [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notional amount of derivatives		$ 700

Employee Benefits and Compens_3

Employee Benefits and Compensation Plans (Details) - Awarded On March 2, 2020 shares in Millions	Mar. 02, 2020shares
Time-Based RSU Awards | Employee
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Restricted share unit awards granted	2.4
Share-based award, vesting period	3 years
Performance-based awards	2.4
Performance-Based Option Awards | Members of management team
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Restricted share unit awards granted	0.6
Performance-based awards	0.6

Employee Benefits and Compens_4

Employee Benefits and Compensation Plans - Summary of Share Option Awards (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Weighted-Average Contractual Term (years)
Options Outstanding, Weighted-Average Contractual Term	5 years 2 months 4 days	5 years 5 months 1 day
Aggregate Intrinsic Value
Options Outstanding, Aggregate Intrinsic Value		$ 33,413
Time-Based Option Awards
Number of Share Option Awards
Outstanding as of January 1, 2020	4,918,554
Exercised	(48,221)
Forfeited and cancelled	(25,000)
Outstanding as of March 31, 2020	4,845,333	4,918,554
Weighted-Average Exercise Price
Outstanding as of January 1, 2020	$ 51.84
Exercised	44.38
Forfeited and cancelled	56.19
Outstanding as of March 31, 2020	$ 51.89	$ 51.84
Performance-Based Option Awards
Number of Share Option Awards
Outstanding as of January 1, 2020	115,489
Exercised	(906)
Outstanding as of March 31, 2020	114,583	115,489
Weighted-Average Exercise Price
Outstanding as of January 1, 2020	$ 59.11
Exercised	19
Outstanding as of March 31, 2020	$ 59.43	$ 59.11
Market-Based Awards
Number of Share Option Awards
Outstanding as of January 1, 2020	208,333
Exercised	0
Forfeited and cancelled	0
Outstanding as of March 31, 2020	208,333	208,333
Weighted-Average Exercise Price
Outstanding as of January 1, 2020	$ 59.43
Exercised	0
Forfeited and cancelled	0
Outstanding as of March 31, 2020	$ 59.43	$ 59.43

Employee Benefits and Compens_5

Employee Benefits and Compensation Plans - Summary of Restricted Unit Activity (Details) - Restricted Share Units	3 Months Ended
	Mar. 31, 2020$ / sharesshares
Time-Based RSU Awards
Number of Restricted Share Awards
Non-vested as of January 1, 2020 | shares	3,245,625
Granted | shares	2,392,044
Vested | shares	(1,594,003)
Forfeited or expired | shares	(85,667)
Non-vested as of March 31, 2020 | shares	3,957,999
Weighted- Average Grant-Date Fair Value
Non-vested as of January 1, 2020 | $ / shares	$ 54.94
Granted | $ / shares	35.86
Vested | $ / shares	54.20
Forfeited or expired | $ / shares	50.85
Non-vested as of March 31, 2020 | $ / shares	$ 43.80
Performance-Based Option Awards
Number of Restricted Share Awards
Non-vested as of January 1, 2020 | shares	1,129,396
Granted | shares	611,808
Vested | shares	(181,682)
Forfeited or expired | shares	(17,652)
Non-vested as of March 31, 2020 | shares	1,541,870
Weighted- Average Grant-Date Fair Value
Non-vested as of January 1, 2020 | $ / shares	$ 56.09
Granted | $ / shares	35.59
Vested | $ / shares	56.33
Forfeited or expired | $ / shares	56.77
Non-vested as of March 31, 2020 | $ / shares	$ 47.92
Market-Based RSU Awards
Number of Restricted Share Awards
Non-vested as of January 1, 2020 | shares	50,000
Granted | shares	0
Vested | shares	0
Forfeited or expired | shares	0
Non-vested as of March 31, 2020 | shares	50,000
Weighted- Average Grant-Date Fair Value
Non-vested as of January 1, 2020 | $ / shares	$ 59.43
Granted | $ / shares	0
Vested | $ / shares	0
Forfeited or expired | $ / shares	0
Non-vested as of March 31, 2020 | $ / shares	$ 59.43

Employee Benefits and Compens_6

Employee Benefits and Compensation Plans - Summary of Compensation Expense Recognized for Share-Based Compensation (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total share-based compensation expense	$ 32,758	$ 26,999
Payroll and related
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total share-based compensation expense	4,702	3,804
Marketing, general and administrative expense
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total share-based compensation expense	$ 28,056	$ 23,195

Commitments and Contingencies (

Commitments and Contingencies (Details) € in Billions, $ in Billions	Mar. 12, 2020item	Aug. 31, 2019item	Mar. 31, 2020EUR (€)item	Mar. 31, 2020USD ($)item
Commitments and Contingencies Disclosure [Line Items]
Number of cruises ships			28	28
Capacity of ship, berths			59,150	59,150
Number of class action complaints	2
Number of lawsuits filed		2
Advance ticket sales with credit card processor | $				$ 1.3
Ship Construction Contracts
Commitments and Contingencies Disclosure [Line Items]
Number of additional ships			9	9
Aggregate contract price of new ships			€ 7.1	$ 7.8
Export credit facility financing as percentage of contract price			80.00%	80.00%
Ship Construction Contracts | Ships launching period in 2022 through 2027
Commitments and Contingencies Disclosure [Line Items]
Number of additional ships			6	6
Capacity of ship, tons			140,000	140,000
Capacity of ship, berths			3,300	3,300
Ship Construction Contracts | Ships order delivery in 2020 and 2023
Commitments and Contingencies Disclosure [Line Items]
Number of additional ships			1	1
Capacity of ship, tons			55,000	55,000
Capacity of ship, berths			750	750
Ship Construction Contracts | Ship order delivery in 2022 and 2025
Commitments and Contingencies Disclosure [Line Items]
Number of additional ships			2	2
Capacity of ship, tons			67,000	67,000
Capacity of ship, berths			1,200	1,200

Other Income (Expense), Net (De

Other Income (Expense), Net (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Other Income And Expenses [Abstract]
Other income, net	$ 5,823	$ (434)

Income Tax Benefit (Details)

Income Tax Benefit (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Income Tax Disclosure [Abstract]
Income tax benefit (expense)	$ (6,173)	$ (33,798)
Tax benefit connection with the reversal of substantially all of valuation allowance on net operating loss carryforwards		$ 35,700

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Supplemental Cash Flow Information [Abstract]
Non-cash investing activity in connection with property and equipment	$ 12	$ 9.8

Subsequent Events (Details)

Subsequent Events (Details) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended
	May 31, 2020	Mar. 31, 2020	Dec. 31, 2019
Subsequent Event [Line Items]
Ordinary shares, par value (in dollars per share)		$ 0.001	$ 0.001
Subsequent Event
Subsequent Event [Line Items]
Number of ordinary shares issued	36,363,636
Ordinary shares, par value (in dollars per share)	$ 0.001
Share Price	11
Underwriting discounts and commissions per share	$ 0.385
Net proceeds from offering	$ 443.9
Subsequent Event | Over-Allotment Option
Subsequent Event [Line Items]
Number of ordinary shares issued	5,454,545