Royal Caribbean Cruises Ltd. operates as a cruise company worldwide. The company operates cruises under the Royal Caribbean International, Celebrity Cruises, Azamara, and Silversea Cruises brands, which comprise a range of itineraries that call on approximately 1,000 destinations. As of February 25, 2022, it operated 61 ships. The company was founded in 1968 and is headquartered in Miami, Florida.

Royal Caribbean Cruises Ltd.

Passenger Ticket Revenues

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Onboard and Other Revenues

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Total Revenues

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Commissions, Transportation and Other

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Onboard and Other

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Payroll and Related

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Food

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Fuel

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Other Operating

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Total Cruise Operating Expenses

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Marketing, Selling and Administrative Expenses

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Depreciation and Amortization Expenses

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Impairment of Pullmantur Related Assets

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Restructuring and Related Impairment Charges

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Total Operating Expenses

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Impairment and Credit Losses

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Operating Income

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Interest Income

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Interest Expense, Net of Interest Capitalized

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Extinguishment of Unsecured Senior Notes

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Equity Investment Income

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Total Other Income, Net

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Other Income (Expense)

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Total Other Income/Expense

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Income Before Cumulative Effect of a Change in Accounting Principle

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Cumulative Effect of a Change in Accounting Principle

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Net Income (Loss)

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Net Income

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Cost of Sales

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Gross Profit

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Gross Profit Margin

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Selling, General & Administrative Expenses

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Depreciation & Amortization Expenses

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Other Operating Expenses

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Operating Profit

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Operating Margin

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Interest and Investment Income

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Interest Expense

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Non-Operating Income

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Total Non-Operating Income

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Income Before Provision for Income Taxes

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Consolidated Net Income

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Revenue

EBIT

EBITDA

CapEx

Net Interest Income

Assets

Adjusted EBITDA

Adjusted Net Income

Net Revenue

Average Assets

Adjusted EBIT

Adjusted Revenue

Adjusted EBT

Adjusted Funds From Operations

Income Statement	LTM	Dec '24	Dec '23	Dec '22	Dec '21	Dec '20	Dec '19	Dec '18	Dec '17	Dec '16	Dec '15
Total Revenues	17,436	16,484	13,900	8,840	1,532	2,208.8	10,950.7	9,493.8	8,777.8	8,496.4	8,299.1
Total Revenues %Chg	8.6%	18.6%	57.2%	477%	-30.6%	-79.8%	15.3%	8.2%	3.3%	2.4%	2.8%
Passenger Ticket Revenues
Onboard and Other Revenues
Cost of Sales	8,893	8,652	7,775	6,616	2,739	2,765.1	6,062.8	5,262.2	4,896.6	5,015.5	5,099.4
Commissions, Transportation and Other
Onboard and Other
Payroll and Related
Food
Fuel
Other Operating
Gross Profit	8,543	7,832	6,125	2,224	-1,207	-556.3	4,887.9	4,231.6	3,881.3	3,480.9	3,199.7
Gross Profit Margin	49%	47.5%	44.1%	25.2%	-78.8%	-25.2%	44.6%	44.6%	44.2%	41%	38.6%
Selling, General & Administrative Expenses	2,265	2,125	1,792	1,583	1,370	1,199.6	1,559.3	1,303.1	1,186	1,108.7	1,086.5
Marketing, Selling and Administrative Expenses
Depreciation & Amortization Expenses	1,674	1,600	1,455	1,407	1,293	1,279.3	1,245.9	1,033.7	951.2	894.9	827
Depreciation and Amortization Expenses
Other Operating Expenses	—	—	—	—	—	1,566.4	—	—	—	—	411.3
Impairment of Pullmantur Related Assets
Restructuring and Related Impairment Charges
Impairment and Credit Losses
Operating Profit	4,604	4,107	2,878	-766	-3,870	-4,601.6	2,082.7	1,894.8	1,744.1	1,477.2	874.9
Operating Margin	26.4%	24.9%	20.7%	-8.7%	-252.6%	-208.3%	19%	20%	19.9%	17.4%	10.5%
Interest and Investment Income	390	276	236	93	-118	-192.3	257.9	243.6	186.3	149.2	93.1
Interest Income
Equity Investment Income
Interest Expense	-991	-1,590	-1,402	-1,364	-1,292	-844.2	-408.5	-333.7	-300	-307.4	-277.7
Interest Expense, Net of Interest Capitalized
Non-Operating Income	87	103	-8	-119	20	-137.1	-24.5	11.1	-5.3	-35.7	-24.4
Extinguishment of Unsecured Senior Notes
Other Income (Expense)
Total Non-Operating Income	-514	-1,211	-1,174	-1,390	-1,390	-1,173.6	-175.1	-79	-118.9	-193.8	-209.1
Income Before Provision for Income Taxes	4,090	2,896	1,704	-2,156	-5,260	-5,775.1	1,907.6	1,815.8	1,625.1	1,283.4	665.8
Consolidated Net Income	4,090	2,896	1,704	-2,156	-5,260	-5,775.1	1,907.6	1,815.8	1,625.1	1,283.4	665.8
Net Income (Loss)
Net Income Attributable to Minority Interests and Other	21	18	7	—	—	22.3	28.7	4.8	—	—	—
Less: Net Income Attributable to Noncontrolling Interest
Cumulative Effect of a Change in Accounting Principle
Net Income Attributable to Common Shareholders	4,069	2,877	1,697	-2,156	-5,260	-5,797.5	1,878.9	1,811	1,625.1	1,283.4	665.8
Net Income Attributable to Royal Caribbean Cruises Ltd.
Net Income (Loss) Attributable to Royal Caribbean Cruises Ltd.
Basic EPS	15	11	6.6	-8.5	-20.9	-27.1	9	8.6	7.6	6	3
Diluted EPS	14.9	10.9	6.3	-8.5	-20.9	-27.1	9	8.6	7.5	5.9	3
Basic Weighted Average Shares Outstanding	270.5	261	256	255	252	214.3	209.4	210.6	214.6	215.4	219.5
Total Shares Outstanding	272.7	268.9	256.4	255.2	254.8	237.4	208.8	209	213.3	214.6	218
Diluted Weighted Average Shares Outstanding	275.5	279	283	255	252	214.3	209.9	211.6	215.7	216.3	220.7
EBITDA	6,279	5,707	4,333	641	-2,577	-3,322.3	3,328.6	2,928.5	2,695.3	2,372.1	1,701.9