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Revision to Previously Issued Interim Financial Statements
 12 Months Ended
Dec. 31, 2024
Revision to Previously Issued Interim Financial Statements [Abstract]  
Revision to Previously Issued Interim Financial Statement

28. REVISION TO PREVIOUSLY ISSUED INTERIM FINANCIAL STATEMENTS (UNAUDITED)

The tables below reflect the unaudited interim periods within the year ended December 31, 2024 and include revisions to previously filed unaudited interim condensed consolidated financial statements to correct immaterial errors as discussed in Note 2. These revisions will be reflected in the Group’s quarterly reports to be filed on Form 6-K during the year ending December 31, 2025.

The following table sets forth revisions to the unaudited interim condensed consolidated statements of operations for the three months ended March 31, June 30, and September 30, 2024:

 

 

Three Months Ended March 31, 2024

 

 

Three Months Ended June 30, 2024

 

 

Three Months Ended September 30, 2024

 

 

As
Reported

 

 

Adjustment

 

 

As
Revised

 

 

As
Reported

 

 

Adjustment

 

 

As
Revised

 

 

As
Reported

 

 

Adjustment

 

 

As
Revised

 

(in USD and thousands, except per share data)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other operating expenses

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Depreciation, amortization and impairment

$

(64,911

)

 

$

(632

)

 

$

(65,543

)

 

$

(61,141

)

 

$

(632

)

 

$

(61,773

)

 

$

(61,052

)

 

$

(632

)

 

$

(61,684

)

Total other operating expenses

$

(284,729

)

 

$

(632

)

 

$

(285,361

)

 

$

(281,734

)

 

$

(632

)

 

$

(282,366

)

 

$

(280,030

)

 

$

(632

)

 

$

(280,662

)

Operating income

$

(70,499

)

 

$

(632

)

 

$

(71,131

)

 

$

426,926

 

 

$

(632

)

 

$

426,294

 

 

$

489,588

 

 

$

(632

)

 

$

488,956

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Non-operating income (expense)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

$

(117,489

)

 

$

3,858

 

 

$

(113,631

)

 

$

(100,623

)

 

$

4,599

 

 

$

(96,024

)

 

$

(90,002

)

 

$

5,568

 

 

$

(84,434

)

Income (loss) before income taxes

$

(492,322

)

 

$

3,226

 

 

$

(489,096

)

 

$

163,287

 

 

$

3,967

 

 

$

167,254

 

 

$

379,672

 

 

$

4,936

 

 

$

384,608

 

Net (loss) income

$

(493,928

)

 

$

3,226

 

 

$

(490,702

)

 

$

155,801

 

 

$

3,967

 

 

$

159,768

 

 

$

374,800

 

 

$

4,936

 

 

$

379,736

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net (loss) income attributable
to Viking Holdings Ltd

$

(494,224

)

 

$

3,226

 

 

$

(490,998

)

 

$

155,652

 

 

$

3,967

 

 

$

159,619

 

 

$

375,094

 

 

$

4,936

 

 

$

380,030

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net (loss) income per share attributable
to ordinary and special shares

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

$

(1.21

)

 

$

0.01

 

 

$

(1.20

)

 

$

0.37

 

 

$

0.01

 

 

$

0.38

 

 

$

0.87

 

 

$

0.01

 

 

$

0.88

 

Diluted

$

(1.21

)

 

$

0.01

 

 

$

(1.20

)

 

$

0.37

 

 

$

0.01

 

 

$

0.38

 

 

$

0.86

 

 

$

0.01

 

 

$

0.87

 

 

The following table sets forth revisions to the unaudited interim condensed consolidated statements of other comprehensive income (loss) for the three months ended March 31, June 30, and September 30, 2024:

 

 

Three Months Ended March 31, 2024

 

 

Three Months Ended June 30, 2024

 

 

Three Months Ended September 30, 2024

 

 

As
Reported

 

 

Adjustment

 

 

As
Revised

 

 

As
Reported

 

 

Adjustment

 

 

As
Revised

 

 

As
Reported

 

 

Adjustment

 

 

As
Revised

 

(in USD and thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net (loss) income

$

(493,928

)

 

$

3,226

 

 

$

(490,702

)

 

$

155,801

 

 

$

3,967

 

 

$

159,768

 

 

$

374,800

 

 

$

4,936

 

 

$

379,736

 

Total comprehensive (loss) income

$

(504,531

)

 

$

3,226

 

 

$

(501,305

)

 

$

151,237

 

 

$

3,967

 

 

$

155,204

 

 

$

393,752

 

 

$

4,936

 

 

$

398,688

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total comprehensive (loss) income attributable to Viking Holdings Ltd

$

(504,819

)

 

$

3,226

 

 

$

(501,593

)

 

$

151,091

 

 

$

3,967

 

 

$

155,058

 

 

$

394,034

 

 

$

4,936

 

 

$

398,970

 

 

The following table sets forth revisions to the unaudited interim condensed consolidated statements of cash flows for the three months ended March 31, six months ended June 30, and nine months ended September 30, 2024:

 

 

Three Months Ended March 31, 2024

 

 

Six Months Ended June 30, 2024

 

 

Nine Months Ended September 30, 2024

 

 

As
Reported

 

 

Adjustment

 

 

As
Revised

 

 

As
Reported

 

 

Adjustment

 

 

As
Revised

 

 

As
Reported

 

 

Adjustment

 

 

As
Revised

 

(in USD and thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash flows from operating activities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net (loss) income

$

(493,928

)

 

$

3,226

 

 

$

(490,702

)

 

$

(338,127

)

 

$

7,193

 

 

$

(330,934

)

 

$

36,673

 

 

$

12,129

 

 

$

48,802

 

Depreciation, amortization and impairment

$

64,911

 

 

$

632

 

 

$

65,543

 

 

$

126,052

 

 

$

1,263

 

 

$

127,315

 

 

$

187,104

 

 

$

1,895

 

 

$

188,999

 

Interest expense

$

108,414

 

 

$

(3,858

)

 

$

104,556

 

 

$

201,297

 

 

$

(8,456

)

 

$

192,841

 

 

$

285,401

 

 

$

(14,024

)

 

$

271,377

 

Net cash flow from operating activities

$

463,031

 

 

$

—

 

 

$

463,031

 

 

$

882,819

 

 

$

—

 

 

$

882,819

 

 

$

1,711,489

 

 

$

—

 

 

$

1,711,489