CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2020	Mar. 31, 2019
Operating Activities
Net (Loss) Income		$ (1,437,035)	$ 256,806
Adjustments:
Depreciation and amortization		324,330	292,285
Impairment and credit losses		1,108,118	0
Net deferred income tax expense		253	2,983
Loss (gain) on derivative instruments not designated as hedges		120,765	(4,780)
Share-based compensation (income) expense		(7,428)	27,322
Equity investment loss (income)		10,392	(33,694)
Amortization of debt issuance costs		7,795	10,366
Amortization of commercial paper notes discount		6,615	7,916
Change in fair value of contingent consideration		(51,019)	0
Changes in operating assets and liabilities:
Decrease (increase) in trade and other receivables, net		84,578	(44,382)
Increase in inventories		(15,598)	(4,366)
Decrease (increase) in prepaid expenses and other assets		24,476	(12,323)
Increase in accounts payable		851,342	8,843
Increase in accrued interest		44,648	45,581
Increase (decrease) in accrued expenses and other liabilities		110,440	(68,688)
(Decrease) increase in customer deposits		(959,555)	580,735
Dividends received from unconsolidated affiliates	[1]	1,991	42,435
Other, net		(26,398)	(28,585)
Net cash provided by operating activities		198,710	1,078,454
Investing Activities
Purchases of property and equipment		(1,252,554)	(470,116)
Cash received on settlement of derivative financial instruments		1,132	5,803
Cash paid on settlement of derivative financial instruments		(96,575)	(678)
Investments in and loans to unconsolidated affiliates		(2,000)	0
Cash received on loans to unconsolidated affiliates		5,160	11,824
Proceeds from the sale of property and equipment		5,256	0
Other, net		(1,596)	2,719
Net cash used in investing activities		(1,341,177)	(450,448)
Financing Activities
Debt proceeds		7,052,189	316,810
Debt issuance costs		(62,346)	(3,675)
Repayments of debt		(921,867)	(1,146,674)
Proceeds from issuance of commercial paper notes		6,396,787	5,039,834
Repayments of commercial paper notes		(7,494,025)	(4,711,208)
Dividends paid		(163,563)	(146,817)
Proceeds from exercise of common stock options		384	241
Other, net		(17,347)	(16,192)
Net cash provided by (used in) financing activities		4,790,212	(667,681)
Effect of exchange rate changes on cash		(672)	20
Net increase (decrease) in cash and cash equivalents		3,647,073	(39,655)
Cash and cash equivalents at beginning of period		243,738	287,852
Cash and cash equivalents at end of period		3,890,811	248,197
Cash paid during the period for:
Interest, net of amount capitalized		31,481	37,103
Non-cash Investing Activities
Notes receivable issued upon sale of property and equipment		6,294	0
Purchase of property and equipment included in accounts payable and accrued expenses and other liabilities		$ 29,022	$ 0

[1] There were no dividends received from TUI Cruises for the quarter ended March 31, 2020. For the quarter ended March 31, 2019, amount includes dividends of €50.0 million from TUI Cruises, net of tax withholdings