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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Marketing, Selling and Administrative Expenses Common Size

Depreciation and Amortization Expenses

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Impairment of Pullmantur Related Assets

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Total Operating Expenses

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Impairment and Credit Losses

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Impairment and Credit Losses Common Size

Operating Income

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Interest Income

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Interest Expense, Net of Interest Capitalized

Interest Expense, Net of Interest Capitalized %Chg

Interest Expense, Net of Interest Capitalized Common Size

Equity Investment Income

Equity Investment Income %Chg

Equity Investment Income Common Size

Other Expense (Including a $21.7 Million Loss Related to the 2016 Elimination of the Pullmantur Reporting Lag)

Other Expense (Including a $21.7 Million Loss Related to the 2016 Elimination of the Pullmantur Reporting Lag) %Chg

Other Expense (Including a $21.7 Million Loss Related to the 2016 Elimination of the Pullmantur Reporting Lag) Common Size

Other Income (Expense)

Other Income (Expense) %Chg

Other Income (Expense) Common Size

Total Other Income/Expense

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Total Other Income/Expense Common Size

Net Income (Loss)

Net Income (Loss) %Chg

Net Income (Loss) Common Size

Net Income

Net Income %Chg

Net Income Common Size

Less: Net Income Attributable to Noncontrolling Interest

Less: Net Income Attributable to Noncontrolling Interest %Chg

Less: Net Income Attributable to Noncontrolling Interest Common Size

Net Income (Loss) Attributable to Royal Caribbean Cruises Ltd.

Net Income (Loss) Attributable to Royal Caribbean Cruises Ltd. %Chg

Net Income (Loss) Attributable to Royal Caribbean Cruises Ltd. Common Size

Basic

Basic %Chg

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Diluted

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Diluted Common Size

Net Income Attributable to Royal Caribbean Cruises Ltd.

Net Income Attributable to Royal Caribbean Cruises Ltd. %Chg

Net Income Attributable to Royal Caribbean Cruises Ltd. Common Size

Cost of Sales

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Cost of Sales Common Size

Gross Profit

Gross Profit %Chg

Gross Profit Common Size

Gross Profit Margin

Gross Profit Margin %Chg

Gross Profit Margin Common Size

Selling, General & Administrative Expenses

Selling, General & Administrative Expenses %Chg

Selling, General & Administrative Expenses Common Size

Depreciation & Amortization Expenses

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Other Operating Expenses

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Other Operating Expenses Common Size

Operating Profit

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Operating Profit Common Size

Operating Margin

Operating Margin %Chg

Operating Margin Common Size

Interest and Investment Income

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Interest and Investment Income Common Size

Interest Expense

Interest Expense %Chg

Interest Expense Common Size

Non-Operating Income

Non-Operating Income %Chg

Non-Operating Income Common Size

Total Non-Operating Income

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Total Non-Operating Income Common Size

Income Before Provision for Income Taxes

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Income Before Provision for Income Taxes Common Size

Consolidated Net Income

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Consolidated Net Income Common Size

Net Income Attributable to Minority Interests and Other

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	Jun '25	Dec '24	Jun '24	Dec '23	Jun '23	Dec '22
Total Revenues	8,537	8,646	7,838	7,492	6,408	5,596.5
Total Revenues %Chg	8.9%	15.4%	22.3%	33.9%	97.6%	288.9%
Passenger Ticket Revenues
Onboard and Other Revenues
Cost of Sales	4,362	4,443	4,209	4,028	3,747	3,751.1
Commissions, Transportation and Other
Onboard and Other
Payroll and Related
Food
Fuel
Other Operating
Gross Profit	4,175	4,203	3,629	3,464	2,661	1,845.4
Gross Profit Margin	48.9%	48.6%	46.3%	46.2%	41.5%	33%
Selling, General & Administrative Expenses	1,071	1,124	1,001	896	896	817.5
Marketing, Selling and Administrative Expenses
Depreciation & Amortization Expenses	829	820	780	734	721	716
Depreciation and Amortization Expenses
Other Operating Expenses	—	—	—	—	—	—
Impairment of Pullmantur Related Assets
Impairment and Credit Losses
Operating Profit	2,275	2,259	1,848	1,834	1,044	311.9
Operating Margin	26.6%	26.1%	23.6%	24.5%	16.3%	5.6%
Interest and Investment Income	170	170	106	150	86	127.4
Interest Income
Equity Investment Income
Interest Expense	-477	-869	-721	-688	-714	-783.6
Interest Expense, Net of Interest Capitalized
Non-Operating Income	-17	114	-11	-7	-1	-122.9
Other Expense (Including a $21.7 Million Loss Related to the 2016 Elimination of the Pullmantur Reporting Lag)
Other Income (Expense)
Total Non-Operating Income	-324	-585	-626	-545	-629	-779.1
Income Before Provision for Income Taxes	1,951	1,674	1,222	1,289	415	-467.3
Consolidated Net Income	1,951	2,896	1,222	1,704	415	-467.3
Net Income (Loss)
Net Income Attributable to Minority Interests and Other	10	10	8	3	4	—
Less: Net Income Attributable to Noncontrolling Interest
Net Income Attributable to Common Shareholders	1,940	1,663	1,214	1,286	411	-434.3
Net Income Attributable to Royal Caribbean Cruises Ltd.
Net Income (Loss) Attributable to Royal Caribbean Cruises Ltd.
Basic EPS	7.2	6.3	4.7	5	1.6	-1.8
Diluted EPS	7.1	6.5	4.5	4.7	1.6	-1.8
Basic Weighted Average Shares Outstanding	270	265	257	256	256	255.1
Total Shares Outstanding	271.6	268.9	257.4	256.4	256.2	255.2
Diluted Weighted Average Shares Outstanding	275	277	281	307	259	255.1
EBITDA	3,104	3,079	2,628	2,568	1,765	1,027.8