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Commitments and Contingencies | 6 Months Ended
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Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract] |
Commitments and Contingencies | Note 9. Commitments and Contingencies Ship Purchase Obligations Our future capital commitments consist primarily of new ship orders. As of June 30, 2022, the dates that the ships on order by our Global and Partner Brands are expected to be delivered, subject to change in the event of construction delays, and their approximate berths are as follows:
Ship |  | Shipyard |  | Expected to be delivered |  | Approximate Berths
Royal Caribbean International — |  |  |  |  |  |
Oasis-class: |  |  |  |  |  |
Utopia of the Seas |  | Chantiers de l'Atlantique |  | 2nd Quarter 2024 |  | 5,700
Icon-class: |  |  |  |  |  |
Icon of the Seas |  | Meyer Turku Oy |  | 3rd Quarter 2023 |  | 5,600
Unnamed |  | Meyer Turku Oy |  | 2nd Quarter 2025 |  | 5,600
Unnamed |  | Meyer Turku Oy |  | 2nd Quarter 2026 |  | 5,600
Celebrity Cruises — |  |  |  |  |  |
Edge-class: |  |  |  |  |  |
Celebrity Ascent |  | Chantiers de l'Atlantique |  | 4th Quarter 2023 |  | 3,250
Silversea Cruises |  |  |  |  |  |
Evolution Class: |  |  |  |  |  |
Silver Nova |  | Meyer Werft |  | 2nd Quarter 2023 |  | 730
Unnamed |  | Meyer Werft |  | 2nd Quarter 2024 |  | 730
TUI Cruises (50% joint venture) |  |  |  |  |  |
Mein Schiff 7 |  | Meyer Turku Oy |  | 2nd Quarter 2024 |  | 2,900
Unnamed |  | Fincantieri |  | 4th Quarter 2024 |  | 4,100
Unnamed |  | Fincantieri |  | 2nd Quarter 2026 |  | 4,100
Total Berths |  |  |  |  |  | 38,310
In addition, as of June 30, 2022, we have an agreement in place with Chantiers de l'Atlantique to build an additional Edge-class ship for delivery in 2025, which is contingent upon completion of conditions precedent and financing. As of June 30, 2022, the aggregate cost of our ships on order presented in the table above, excluding any ships on order by our Partner Brands, was approximately $9.4 billion, of which we had deposited $0.6 billion as of such date. Approximately 61.7% of the aggregate cost was exposed to fluctuations in the Euro exchange rate at June 30, 2022. Refer to Note 12. Fair Value Measurements and Derivative Instruments for further information. Litigation As previously reported, two lawsuits were filed against us in August 2019 in the U.S. District Court for the Southern District of Florida (the "Court") under Title III of the Cuban Liberty and Democratic Solidarity Act, also known as the Helms-Burton Act. The complaint filed by Havana Docks Corporation ("Havana Docks Action") alleges it holds an interest in the Havana Cruise Port Terminal, and the complaint filed by Javier Garcia-Bengochea (the "Port of Santiago Action") 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 we 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. The Court dismissed the Port of Santiago Action with prejudice on the basis that the plaintiff lacked standing, and the plaintiff’s appeal of the dismissal is awaiting a decision by the appellate court. In the Havana Docks Action, the Court granted summary judgement in favor of the plaintiff as to liability and a trial on damages has been scheduled for September 2022. We believe we have meritorious defenses to the claims alleged in both the Havana Docks Action and the Port of Santiago Action, and we intend to vigorously defend ourselves against them. Given that the outcome of the litigation is inherently unpredictable and subject to significant uncertainties, there can be no assurances that the final outcome of either case will not be material, and we cannot reasonably estimate the potential loss or range of loss, if any, associated with the litigation. We are routinely involved in claims typical within the cruise vacation industry. The majority of these claims are covered by insurance. We believe the outcome of such claims, net of expected insurance recoveries, will not have a material adverse impact on our financial condition or results of operations and cash flows. Other Some of the contracts that we enter into include indemnification provisions that obligate us to make payments to the counterparty if certain events occur. These contingencies generally relate to changes in taxes, increased lender capital costs and other similar costs. The indemnification clauses are often standard contractual terms and are entered into in the normal course of business. There are no stated or notional amounts included in the indemnification clauses and we are not able to estimate the maximum potential amount of future payments, if any, under these indemnification clauses. We have not been required to make any payments under such indemnification clauses in the past and, under current circumstances, we do not believe an indemnification in any material amount is probable. If any person acquires ownership of more than 50% of our common stock or, subject to certain exceptions, during any 24-month period, a majority of our board of directors is no longer comprised of individuals who were members of our board of directors on the first day of such period, we may be obligated to prepay indebtedness outstanding under our credit facilities, which we may be unable to replace on similar terms. Our debt securities also contain change of control provisions that would be triggered by a third-party acquisition of greater than 50% of our common stock coupled with a ratings downgrade. If this were to occur, it would have an adverse impact on our liquidity and operations.

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