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• | US GAAP Net Income was $1.8 billion or $8.56 per share and Adjusted Net Income was $1.9 billion or $8.86 per share in 2018 versus US GAAP and Adjusted Net Income of $1.6 billion or $7.53 per share in 2017. |
• | Gross Yields were up 3.8% in Constant-Currency (up 3.9% As-Reported). Net Yields were up 4.4% in Constant-Currency (up 4.5% As-Reported). |
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Royal Caribbean Cruises Ltd's Definitive Proxy Statement (Form DEF 14A) filed after their 2019 10-K Annual Report includes:
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The increase in cash provided by operating activities was primarily attributable to an increase in proceeds from customer deposits, an increase in cash receipts from onboard spending and an increase of $133.4 million in dividends received from unconsolidated affiliates.
The increase in Onboard and other revenues was primarily due to: a $125.3 million increase in onboard revenue attributable to higher spending on a per passenger basis primarily due to our revenue enhancing initiatives, including beverage package, shore excursion and specialty restaurant sales and promotions and increased revenue associated with internet and other telecommunication services; and a $45.7 million increase in other revenue primarily due to charter revenue and management fees earned from Pullmantur Holdings.
Adjusted Earnings per Share ("Adjusted EPS") represents Adjusted Net Income attributable to Royal Caribbean Cruises Ltd. divided by weighted average shares outstanding or by diluted weighted average shares outstanding, as applicable.
The increase was primarily due to transaction costs incurred by us related to the Silversea Cruises acquisition, marketing, selling and administrative expenses due to the addition of Silversea Cruises, the impairment and other costs related to the exit of our tour operations business, which occurred in 2018, and an increase in payroll and benefits expense primarily driven by an increase in headcount, partially offset by lower stock prices year over year related to our performance share awards, as well as higher spending on advertisement.
Consistent with our earnings growth, we also announced a 17% increase to our common stock dividend, our sixth consecutive year with a dividend increase.
The increase was primarily attributable...Read more
Improvement costs that we believe...Read more
Growth came from a variety...Read more
Net Cruise Costs decreased 1.2%...Read more
We have not provided a...Read more
If the fair value of...Read more
Total cruise operating expenses, excluding...Read more
We believe Net Yields, Net...Read more
Depreciation and Amortization Expenses Depreciation...Read more
Depreciation and Amortization Expenses Depreciation...Read more
Net cash provided by operating...Read more
Net cash provided by operating...Read more
Net cash used in investing...Read more
Other expense decreased $30.4 million,...Read more
We utilize Net Revenues and...Read more
The increase of $170.3 million,...Read more
A reconciliation of historical Gross...Read more
Additionally, dividends received from unconsolidated...Read more
The increase was mainly due...Read more
We reported Net Income attributable...Read more
In addition to the items...Read more
The effect of changes in...Read more
These non-GAAP financial measures are...Read more
For the periods presented, Net...Read more
Adjusted EPS for 2018 represents...Read more
Additionally, effective August 2016, we...Read more
Changes in guest sourcing and...Read more
This increase was partially offset...Read more
Cruise Operating Expenses Total cruise...Read more
However, should certain factors or...Read more
The increase in cash provided...Read more
Adjusted Net Income attributable to...Read more
Revenues Our revenues are comprised...Read more
The increase was primarily due...Read more
The increase was partially offset...Read more
To that base, we add...Read more
Goodwill is recognized as the...Read more
Other intangible assets assigned finite...Read more
Cruise Operating Expenses Total cruise...Read more
Net onboard revenue yield in...Read more
Additionally, 2017 includes the impact...Read more
Onboard and other revenues also...Read more
The decrease in debt proceeds...Read more
The increase was primarily due...Read more
The increase in Onboard and...Read more
Debt denominated in other currencies...Read more
(6) Debt denominated in other...Read more
Passenger ticket revenues increased by...Read more
As of December 31, 2018,...Read more
While it is typically very...Read more
(2) These amounts do not...Read more
The remaining 28.5% of 2018...Read more
The remaining 28.1% of 2017...Read more
Based on our highest net...Read more
The change was primarily attributable...Read more
Passenger ticket revenues increased by...Read more
Gross and Net Cruise Costs...Read more
Revenues Total revenues for 2018...Read more
Revenues Total revenues for 2017...Read more
As of December 31, 2018,...Read more
Liability-classified contingent consideration is remeasured...Read more
The increase in Passenger ticket...Read more
In measuring our ability to...Read more
Due to the sale of...Read more
Equity investment income increased $54.5...Read more
Equity investment income increased $27.9...Read more
As of December 31, 2018,...Read more
The change of $875.7 million...Read more
The change of $16.4 million...Read more
The Company remains focused on...Read more
Due to significant uncertainty, we...Read more
The impairment review for indefinite-life...Read more
As of December 31, 2018,...Read more
Quoted market prices are often...Read more
The increase was primarily due...Read more
Gross and Net Yields Gross...Read more
Gross and Net Yields Gross...Read more
If we had reduced our...Read more
The cash received as advanced...Read more
The effect of changes in...Read more
The increase in ticket prices...Read more
The specific covenants and related...Read more
Financial Statements, Disclosures and Schedules
Inside this 10-K Annual Report
Material Contracts, Statements, Certifications & more
Royal Caribbean Cruises Ltd provided additional information to their SEC Filing as exhibits
Ticker: RCL
CIK: 884887
Form Type: 10-K Annual Report
Accession Number: 0000884887-19-000017
Submitted to the SEC: Fri Feb 22 2019 5:15:23 PM EST
Accepted by the SEC: Fri Feb 22 2019
Period: Monday, December 31, 2018
Industry: Water Transportation