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Royal Caribbean Cruises Ltd (RCL) SEC Filing 10-Q Quarterly report for the period ending Tuesday, June 30, 2020

SEC Filings

Royal Caribbean Cruises Ltd

CIK: 884887 Ticker: RCL


Exhibit 99.1



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FOR IMMEDIATE RELEASE

Royal Caribbean Group provides business update and reports on second quarter 2020

MIAMI August 10, 2020 – Royal Caribbean Group (NYSE: RCL) today reported financial results for the second quarter of 2020 and commented on the business in light of the global COVID-19 pandemic.

Second Quarter 2020
Starting on March 13, 2020 and due to the COVID-19 pandemic, the Company suspended its global cruise operation. This resulted in the cancellation of all of the Company’s second quarter sailings.

The Company reported US GAAP Net Loss for the second quarter of 2020 of $(1.6) billion or $(7.83) per share compared to US GAAP Net Income of $472.8 million or $2.25 per share in the prior year. The 2020 results include a non-cash asset impairment loss of $156.5 million. The Company reported Adjusted Net Loss of $(1.3) billion or $(6.13) per share for the second quarter of 2020 compared to Adjusted Net Income of $532.7 million or $2.54 per share in the prior year. The Net Loss for the quarter is a result of the impact of the COVID-19 pandemic on the business.
1

The following information was filed by Royal Caribbean Cruises Ltd (RCL) on Monday, August 10, 2020 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Royal Caribbean Cruises Ltd's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Cover Page
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive (Loss) Income
Consolidated Statements Of Shareholders' Equity
Consolidated Statements Of Shareholders' Equity (Parenthetical)
(Loss) Earnings Per Share
(Loss) Earnings Per Share (Details)
(Loss) Earnings Per Share (Tables)
(Loss) Earnings Per Share - Narrative (Details)
Changes In Accumulated Other Comprehensive (Loss) Income (Tables)
Changes In Accumulated Other Comprehensive (Loss) Income - Changes In Aoci By Component (Details)
Changes In Accumulated Other Comprehensive (Loss) Income - Reclassifications (Details)
Changes In Accumulated Other Comprehensive Income (Loss)
Changes In Accumulated Other Comprehensive Income (Loss) - Narrative (Details)
Commitment And Contingencies (Tables)
Commitment And Contingencies - Capital Commitments (Details)
Commitments And Contingencies
Commitments And Contingencies - Narrative (Details)
Debt
Debt (Tables)
Debt - Narrative (Details)
Debt - Schedule Of Convertible Notes (Details)
Debt - Schedule Of Maturities (Details)
Debt - Summary Of Debt (Details)
Fair Value Measurements And Derivative Instruments
Fair Value Measurements And Derivative Instruments (Tables)
Fair Value Measurements And Derivative Instruments - Balance Sheet (Details)
Fair Value Measurements And Derivative Instruments - Balance Sheet Hedging Instruments (Details)
Fair Value Measurements And Derivative Instruments - Credit Related Contingent Features (Details)
Fair Value Measurements And Derivative Instruments - Derivative Instruments, Interest Rate Risk, Foreign Currency Exchange Rate Risk (Narrative) (Details)
Fair Value Measurements And Derivative Instruments - Derivatives Not Designated As Hedging Instruments (Details)
Fair Value Measurements And Derivative Instruments - Designated Cash Flow Hedges (Details)
Fair Value Measurements And Derivative Instruments - Estimated Fair Value (Details)
Fair Value Measurements And Derivative Instruments - Fuel Price Risk (Details)
Fair Value Measurements And Derivative Instruments - Income Statement Hedging Instruments (Details)
Fair Value Measurements And Derivative Instruments - Interest Rate Risk (Details)
Fair Value Measurements And Derivative Instruments - Non-Derivative Net Investment (Details)
Fair Value Measurements And Derivative Instruments - Nonrecurring (Details)
Fair Value Measurements And Derivative Instruments - Offsetting Of Derivative Instruments (Details)
Fair Value Measurements And Derivative Instruments - Recurring (Details)
General
General (Details)
Impairment And Credit Losses
Impairment And Credit Losses (Tables)
Impairment And Credit Losses - Intangible Assets (Details)
Impairment And Credit Losses - Narrative (Details)
Impairment And Credit Losses - Schedule Of Goodwill (Details)
Impairment And Credit Losses - Summary Of Credit Loss Allowance (Details)
Leases
Leases (Tables)
Leases - Narrative (Details)
Leases - Schedule Of Lease Expense (Details)
Leases - Schedule Of Lease Maturities (Details)
Leases - Schedule Of Lease Terms And Discount Rates (Details)
Leases - Supplemental Noncash Information (Details)
Other Assets
Other Assets (Tables)
Other Assets - Narrative (Details)
Other Assets - Notes Receivable Due From Equity Instruments (Details)
Other Assets - Related Party Transactions (Details)
Other Assets - Share Of Equity Income From Investments (Details)
Redeemable Noncontrolling Interest
Redeemable Noncontrolling Interest (Tables)
Redeemable Noncontrolling Interest - Narrative (Details)
Redeemable Noncontrolling Interest - Schedule Of Redeemable Noncontrolling Interest (Details)
Restructuring Charges
Restructuring Charges (Tables)
Restructuring Charges - Narrative (Details)
Restructuring Charges - Summary Of Changes (Details)
Revenues
Revenues (Tables)
Revenues - Disaggregation Of Revenue (Details)
Revenues - Narrative (Details)
Shareholders' Equity
Shareholders' Equity (Details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Policies)
Ticker: RCL
CIK: 884887
Form Type: 10-Q Quarterly Report
Accession Number: 0000884887-20-000037
Submitted to the SEC: Mon Aug 10 2020 5:31:25 PM EST
Accepted by the SEC: Mon Aug 10 2020
Period: Tuesday, June 30, 2020
Industry: Water Transportation

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