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| Financial Report on Carnival PLC | |||||
IS
| CCL_IncomeStatement | 2017 | 2018 | 2019 |
| Gross Profit | 7,009,000,000 | 7,792,000,000 | 7,916,000,000 |
| Total Revenue | 17,510,000,000 | 18,881,000,000 | 20,825,000,000 |
| Business Revenue | 17,510,000,000 | 18,881,000,000 | 20,825,000,000 |
| Cost of Revenue | -10501000000 | -11,089,000,000 | -12909000000 |
| Cost of Goods and Services | -1,781,000,000 | -1,884,000,000 | -3452000000 |
| Purchased Fuel, Power and Gas | -1,244,000,000 | -1,619,000,000 | -1562000000 |
| Staff Cost, Cost of Revenue | -4,466,000,000 | -4,780,000,000 | -4,969,000,000 |
| Other Cost of Revenue | -3,010,000,000 | -2,807,000,000 | -2,925,000,000 |
| Operating Income/Expenses | -4,111,000,000 | -4,467,000,000 | -4,640,000,000 |
| Selling, General and Administrative Expenses | -2,265,000,000 | -2,450,000,000 | -2,480,000,000 |
| Depreciation, Amortization and Depletion | -1,846,000,000 | -2,017,000,000 | -2,160,000,000 |
| Depreciation and Amortization | -1,846,000,000 | -2,017,000,000 | -2,160,000,000 |
| Total Operating Profit/Loss | 2,898,000,000 | 3,325,000,000 | 3,276,000,000 |
| Non-Operating Income/Expenses, Total | -232,000,000 | -118,000,000 | -215,000,000 |
| Total Net Finance Income/Expense | -189,000,000 | -180,000,000 | -183,000,000 |
| Net Interest Income/Expense | -189,000,000 | -180,000,000 | -183,000,000 |
| Interest Expense Net of Capitalized Interest | -198,000,000 | -194,000,000 | -206,000,000 |
| Interest Income | 9,000,000 | 14,000,000 | 23,000,000 |
| Net Investment Income | 35,000,000 | 59,000,000 | 0 |
| Gain/Loss on Derivatives | 35,000,000 | 59,000,000 | 0 |
| Realized Gain/Loss on Derivatives | |||
| Unrealized Gain/Loss on Derivatives | |||
| Irregular Income/Expenses | -89,000,000 | 0 | 0 |
| Goodwill Impairment/Write Off | -89,000,000 | 0 | 0 |
| Impairment/Write Off/Write Down of Capital Assets | |||
| Other Income/Expense, Non-Operating | 11,000,000 | 3,000,000 | -32,000,000 |
| Pretax Income | 2,666,000,000 | 3,207,000,000 | 3,060,000,000 |
| Provision for Income Tax | -60,000,000 | -54,000,000 | -71,000,000 |
| Net Income from Continuing Operations | 2,606,000,000 | 3,153,000,000 | 2,989,000,000 |
| Net Income after Extraordinary Items and Discontinued Operations | 2,606,000,000 | 3,152,000,000 | 2,990,000,000 |
| Net Income after Non-Controlling/Minority Interests | 2,606,000,000 | 3,152,000,000 | 2,990,000,000 |
| Net Income Available to Common Stockholders | 2,606,000,000 | 3,152,000,000 | 2,990,000,000 |
| Diluted Net Income Available to Common Stockholders | 2,606,000,000 | 3,152,000,000 | 2,990,000,000 |
| Dilution to Earnings | |||
| Reported Total Revenue | 17,510,000,000 | 18,881,000,000 | 20,825,000,000 |
| Reported Total Operating Profit/Loss | 2,809,000,000 | 3,325,000,000 | 3,276,000,000 |
| Reported Normalized Income | 2,770,000,000 | 3,029,000,000 | 3,041,000,000 |
| Basic EPS | 3.61 | 4.45 | 4.34 |
| Diluted EPS | 3.59 | 4.44 | 4.32 |
| Basic WASO | 725,000,000 | 709,000,000 | 690,000,000 |
| Diluted WASO | 725,000,000 | 710,000,000 | 692,000,000 |
| Fiscal year ends in Nov 30 | USD |
BS
| CCL_BalanceSheet | 2017 | 2018 | 2019 | ||
| Total Assets | 40,778,000,000 | 42,401,000,000 | 45,058,000,000 | ||
| Total Current Assets | 1,596,000,000 | 2,225,000,000 | 2,059,000,000 | ||
| Cash, Cash Equivalents and Short Term Investments | 395,000,000 | 982,000,000 | 518,000,000 | ||
| Cash and Cash Equivalents | 395,000,000 | 982,000,000 | 518,000,000 | ||
| Inventories | 387,000,000 | 450,000,000 | 427,000,000 | Avg Inv (2018) 418,500,000 | Avg Inv (2019) 438,500,000 |
| Trade and Other Receivables, Current | 312,000,000 | 358,000,000 | 444,000,000 | ||
| Trade/Accounts Receivable, Current | 312,000,000 | 358,000,000 | 444,000,000 | Avg A/Rec (2018) 335,000,000 | Avg A/Rec (2019) 401,000,000 |
| Other Receivables, Current | |||||
| Prepayments and Deposits, Current | 502,000,000 | 436,000,000 | 671,000,000 | ||
| Total Non-Current Assets | 39,182,000,000 | 40,175,000,000 | 43,000,000,000 | ||
| Net Property, Plant and Equipment | 34,430,000,000 | 35,336,000,000 | 38,131,000,000 | ||
| Gross Property, Plant and Equipment | 50,865,000,000 | 52,622,000,000 | 56,781,000,000 | ||
| Machinery, Furniture and Equipment | 46,744,000,000 | 46,957,000,000 | 50,446,000,000 | ||
| Flight, Fleet, Vehicle and Related Equipment | 46,744,000,000 | 46,957,000,000 | 50,446,000,000 | ||
| Furniture, Fixtures and Office Equipment | |||||
| Construction in Progress and Advance Payments | 790,000,000 | 2,004,000,000 | 2,492,000,000 | ||
| Other Property, Plant and Equipment | 3,331,000,000 | 3,661,000,000 | 3,843,000,000 | ||
| Properties | |||||
| Buildings and Improvements | |||||
| Accumulated Depreciation and Impairment | -16,435,000,000 | -17,286,000,000 | -18,650,000,000 | ||
| Accumulated Depreciation | -16,435,000,000 | -17,286,000,000 | -18,650,000,000 | ||
| Net Intangible Assets | 4,167,000,000 | 4,101,000,000 | 4,086,000,000 | ||
| Gross Goodwill and Other Intangible Assets | 4,167,000,000 | 4,101,000,000 | 4,086,000,000 | ||
| Goodwill | 2,967,000,000 | 2,925,000,000 | 2,912,000,000 | ||
| Intangibles other than Goodwill | 1,200,000,000 | 1,176,000,000 | 1,174,000,000 | ||
| Other Intangible Assets | 1,200,000,000 | 1,176,000,000 | 1,174,000,000 | ||
| Other Non-Current Assets | 585,000,000 | 738,000,000 | 783,000,000 | ||
| Total Liabilities | 16,562,000,000 | 17,958,000,000 | 19,693,000,000 | ||
| Total Current Liabilities | 8,800,000,000 | 9,204,000,000 | 9,127,000,000 | ||
| Payables and Accrued Expenses, Current | 2,639,000,000 | 2,384,000,000 | 2,565,000,000 | ||
| Trade and Other Payables, Current | 762,000,000 | 730,000,000 | 756,000,000 | ||
| Trade/Accounts Payable, Current | 762,000,000 | 730,000,000 | 756,000,000 | ||
| Dividends Payable, Current | |||||
| Accrued Expenses, Current | 1,877,000,000 | 1,654,000,000 | 1,809,000,000 | ||
| Financial Liabilities, Current | 2,202,000,000 | 2,426,000,000 | 1,827,000,000 | ||
| Current Debt and Capital Lease Obligation | 2,202,000,000 | 2,426,000,000 | 1,827,000,000 | ||
| Current Debt | 485,000,000 | 848,000,000 | 231,000,000 | ||
| Commercial Paper | 485,000,000 | 621,000,000 | 231,000,000 | ||
| Other Loans, Current Debt | 0 | 227,000,000 | 0 | ||
| Current Portion of Long Term Debt and Capital Lease | 1,717,000,000 | 1,578,000,000 | 1,596,000,000 | ||
| Current Portion of Long Term Debt | 1,717,000,000 | 1,578,000,000 | 1,596,000,000 | ||
| Deferred Liabilities, Current | 3,958,000,000 | 4,395,000,000 | 4,735,000,000 | ||
| Deferred Income/Customer Advances/Billings in Excess of Cost, Current | 3,958,000,000 | 4,395,000,000 | 4,735,000,000 | ||
| Provisions, Current | |||||
| Other Provisions, Current | |||||
| Total Non-Current Liabilities | 7,762,000,000 | 8,754,000,000 | 10,566,000,000 | ||
| Financial Liabilities, Non-Current | 6,993,000,000 | 7,897,000,000 | 9,675,000,000 | ||
| Long Term Debt and Capital Lease Obligation | 6,993,000,000 | 7,897,000,000 | 9,675,000,000 | ||
| Long Term Debt | 6,993,000,000 | 7,897,000,000 | 9,675,000,000 | ||
| Other Non-Current Liabilities | 769,000,000 | 856,000,000 | 890,000,000 | ||
| Total Equity | 24,216,000,000 | 24,443,000,000 | 25,365,000,000 | ||
| Equity Attributable to Parent Stockholders | 24,216,000,000 | 24,443,000,000 | 25,365,000,000 | ||
| Paid in Capital | 2,706,000,000 | 1,326,000,000 | 778,000,000 | ||
| Capital Stock | 9,055,000,000 | 9,121,000,000 | 9,172,000,000 | ||
| Common Stock | 365,000,000 | 365,000,000 | 365,000,000 | ||
| Common Stock, with Par Value | |||||
| Additional Paid in Capital/Share Premium | 8,690,000,000 | 8,756,000,000 | 8,807,000,000 | ||
| Treasury Stock | -6,349,000,000 | -7,795,000,000 | -8,394,000,000 | ||
| Retained Earnings/Accumulated Deficit | 23,292,000,000 | 25,066,000,000 | 26,653,000,000 | ||
| Reserves/Accumulated Comprehensive Income/Losses | -1,782,000,000 | -1,949,000,000 | -2,066,000,000 | ||
| Common Shares Issued | 840,000,000 | 825,000,000 | 813,984,373 | ||
| Common Shares Outstanding | 718,000,000 | 696,000,000 | 683,984,373 | ||
| Common Shares Treasury | 122,000,000 | 129,000,000 | 130,000,000 | ||
| Fiscal year ends in Nov 30 | USD |
CF
| CCL_CashFlow | 2017 | 2018 | 2019 |
| Cash Flow from Operating Activities, Indirect | 5,322,000,000 | 5,549,000,000 | 5,475,000,000 |
| Net Cash Flow from Continuing Operating Activities, Indirect | 5,322,000,000 | 5,549,000,000 | 5,477,000,000 |
| Cash Generated from Operating Activities | 5,322,000,000 | 5,549,000,000 | 5,477,000,000 |
| Income/Loss before Non-Cash Adjustment | 2,606,000,000 | 3,152,000,000 | 2,990,000,000 |
| Total Adjustments for Non-Cash Items | 2,317,000,000 | 2,033,000,000 | 2,275,000,000 |
| Depreciation, Amortization and Depletion, Non-Cash Adjustment | 1,846,000,000 | 2,017,000,000 | 2,160,000,000 |
| Depreciation and Amortization, Non-Cash Adjustment | 1,846,000,000 | 2,017,000,000 | 2,160,000,000 |
| Stock-Based Compensation, Non-Cash Adjustment | 63,000,000 | 65,000,000 | 46,000,000 |
| Irregular Income/Loss, Non-Cash Adjustment | 392,000,000 | 16,000,000 | 26,000,000 |
| Impairment/Write Off/Write Down of Capital Assets Loss/Reversal, Non-Cash Adjustment | 392,000,000 | 16,000,000 | 26,000,000 |
| Impairment/Write Off/Write Down of Other Assets, Non-Cash Adjustment | 0 | 0 | 0 |
| Gain/Loss on Disposals, Non-Cash Adjustment | |||
| Gain/Loss on Disposal/Sale of Fixed Assets, Non-Cash Adjustment | |||
| Impairment of Goodwill, Non-Cash Adjustment | |||
| Other Non-Cash Items | 51,000,000 | -6,000,000 | 43,000,000 |
| Net Investment Income/Loss, Non-Cash Adjustment | -35,000,000 | -59,000,000 | |
| Gain/Loss on Derivatives, Non-Cash Adjustment | -35,000,000 | -59,000,000 | |
| Changes in Operating Capital | 399,000,000 | 364,000,000 | 212,000,000 |
| Change in Inventories | -49,000,000 | -67,000,000 | 79,000,000 |
| Change in Trade and Other Receivables | 6,000,000 | -58,000,000 | -114,000,000 |
| Change in Trade/Accounts Receivable | 6,000,000 | -58,000,000 | |
| Change in Other Receivables | |||
| Change in Prepayments and Deposits | -13,000,000 | 74,000,000 | -254,000,000 |
| Change in Payables and Accrued Expenses | 21,000,000 | -24,000,000 | 34,000,000 |
| Change in Trade and Other Payables | 21,000,000 | -24,000,000 | 34,000,000 |
| Change in Trade/Accounts Payable | 21,000,000 | -24,000,000 | 34,000,000 |
| Change in Accrued Expenses | |||
| Change in Provisions | 73,000,000 | -100,000,000 | 80,000,000 |
| Change in Deferred Assets/Liabilities | 361,000,000 | 539,000,000 | 387,000,000 |
| Change in Other Current Liabilities | |||
| Other Operating Cash Flow | |||
| Cash Flow from Investing Activities | -3,089,000,000 | -3,502,000,000 | -5,277,000,000 |
| Cash Flow from Continuing Investing Activities | -3,089,000,000 | -3,501,000,000 | -5,277,000,000 |
| Purchase/Sale and Disposal of Property, Plant and Equipment, Net | -2,944,000,000 | -3,360,000,000 | -5,403,000,000 |
| Purchase of Property, Plant and Equipment | -2,944,000,000 | -3,749,000,000 | -5,429,000,000 |
| Sale and Disposal of Property, Plant and Equipment | 389,000,000 | 26,000,000 | |
| Purchase/Sale of Investments, Net | -203,000,000 | -39,000,000 | -6,000,000 |
| Purchase of Investments | -203,000,000 | -39,000,000 | -6,000,000 |
| Other Investing Cash Flow | 58,000,000 | -102,000,000 | 132,000,000 |
| Cash Flow from Financing Activities | -2,452,000,000 | -1,460,000,000 | -655,000,000 |
| Cash Flow from Continuing Financing Activities | -2,452,000,000 | -1,459,000,000 | -654,000,000 |
| Issuance of/Payments for Common Stock, Net | -552,000,000 | -1,468,000,000 | -603,000,000 |
| Payments for Common Stock | -552,000,000 | -1,468,000,000 | -603,000,000 |
| Proceeds from Issuance of Common Stock | 0 | 0 | |
| Issuance of/Repayments for Debt, Net | -789,000,000 | 1,403,000,000 | 1,418,000,000 |
| Issuance of/Repayments for Short Term Debt, Net | -29,000,000 | 417,000,000 | -605,000,000 |
| Proceeds from Issuance of Short Term Debt | |||
| Repayments for Short Term Debt | |||
| Issuance of/Repayments for Long Term Debt, Net | -760,000,000 | 986,000,000 | 2,023,000,000 |
| Proceeds from Issuance of Long Term Debt | 467,000,000 | 2,542,000,000 | 3,674,000,000 |
| Repayments for Long Term Debt | -1,227,000,000 | -1,556,000,000 | -1,651,000,000 |
| Cash Dividends and Interest Paid | -1,087,000,000 | -1,355,000,000 | -1,387,000,000 |
| Cash Dividends Paid | -1,087,000,000 | -1,355,000,000 | -1,387,000,000 |
| Common Stock Dividends Paid | -1,087,000,000 | -1,355,000,000 | -1,387,000,000 |
| Other Financing Cash Flow | -24,000,000 | -39,000,000 | -82,000,000 |
| Proceeds from Issuance/Exercising of Stock Options/Warrants | |||
| Cash and Cash Equivalents, End of Period | 395,000,000 | 982,000,000 | 530,000,000 |
| Change in Cash | -219,000,000 | 587,000,000 | -457,000,000 |
| Effect of Exchange Rate Changes | 11,000,000 | -1,000,000 | -9,000,000 |
| Cash and Cash Equivalents, Beginning of Period | 603,000,000 | 395,000,000 | 996,000,000 |
| Change in Cash As Reported, Supplemental | -208,000,000 | 587,000,000 | -465,000,000 |
RA
| RATIO ANALYSIS | |||||
| Category | Ratios | 2019 | 2018 | Status | |
| PROFITABILITY | Gross Profit Margin (%) | 38.01 | 41.27 | weaker | |
| EFFICIENCY | Inventory Turnover (times) | 29.44 | 26.5 | quicker | |
| Account Receivables Turnover (times) | 56.36 | 51.93 | quicker | ||
| LIQUIDITY/SOLVENCY | Debt Ratio (times) | 0.44 | 0.42 | less risky | |
| Times Interest Earned (times) | 15.9 | 17.4 | more risky | ||
| Free Cash Flow (%) | 3.50% | 4.80% | less liquid | ||
| DuPont Analysis of ROE | Return on Sales (%) | 15.73 | 17.61 | weaker | |
| Asset Turnover (times) | 0.46 | 0.45 | stronger | ||
| Return on Assets (%) | 6.84 | 7.58 | weaker | ||
| Financial Leverage (times) | 0.38 | 0.32 | more liquid | ||
| Return on Equity (%) | 11.79 | 12.9 | weaker |
