Royal Caribbean Cruises Ltd (RCL) 10-K Annual Report March 2022

“2021 marked the beginning of our return to our mission of delivering the very best vacation experiences,” said Jason Liberty, president and chief executive officer of the Royal Caribbean Group. “During 2021, we made significant progress toward our recovery with over 85% of our capacity returning to operations and delivering safe and memorable experiences to approximately 1.3 million guests at record guest satisfaction scores. Our team has worked tirelessly to execute our successful and healthy return, and we are grateful for their extraordinary efforts.”

“We expect 2022 will be a strong transitional year, as we bring the rest of our fleet back into operations and well-nigh historical occupancy levels,” Liberty said. “Omicron created short-term operational challenges that have unfortunately weighed on close-in bookings. While the timing of Omicron was particularly unfortunate for the first half of 2022 bookings and will likely delay our return to profitability by a few months, we do not expect it to impact our overall recovery trajectory and the strong demand for cruising.”

Resumption of Sailing and Business Highlights

•By the end of 2021, the Group had returned 50 out of 61 ships to operations across its five brands, representing over 85% of its worldwide capacity. During the year, the Group carried approximately 1.3 million guests across the five

Page 1

The following information was filed by Royal Caribbean Cruises Ltd (RCL) on Friday, February 4, 2022 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-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

Please wait while we load the requested 10-K report or click the link below:

https://last10k.com/sec-filings/report/884887/000088488722000008/rcl-20211231.htm

View differences made from one year to another to evaluate Royal Caribbean Cruises Ltd's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ) — *Sample 10-K Year-over-Year (YoY) Comparison*

Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were ~~removed~~ , added and changed by Royal Caribbean Cruises Ltd.

Continue

Assess how Royal Caribbean Cruises Ltd's management team is paid from their Annual Proxy

Royal Caribbean Cruises Ltd's Definitive Proxy Statement (Form DEF 14A) filed after their 2022 10-K Annual Report includes:

Voting Procedures
Board Members
Executive Team
Salaries, Bonuses, Perks
Peers / Competitors

Continue

Rating
Learn More

Filter Sentiment:

All

Positive

Negative

Filter Category:

All

Financial

Revenue

M & A

Other

Filter Subcategory:

All

Cash Flow

Expense

Income

Earnings

Product

Geography

Debt

Other

Inside Royal Caribbean Cruises Ltd's 10-K Annual Report:

Financial - Shares Highlight
Results of Operations In addition to the items discussed above under "Executive Overview," significant items for 2021 include: Our Net Loss attributable to Royal Caribbean Cruises Ltd. and Adjusted Net Loss attributable to Royal Caribbean Cruises Ltd. for the year ended December 31, 2021 was $(5.3) billion and $(4.8) billion, or $(20.89) and $(19.19) per share on a diluted basis, respectively, as compared to Net Loss attributable to Royal Caribbean Cruises Ltd. and Adjusted Net Loss attributable to Royal Caribbean Cruises Ltd. of $(5.8) billion and $(3.9) billion, or $(27.05) and $(18.31) per share on a diluted basis, respectively, for the year ended December 31, 2020.

Financial - Cash Flow Highlight
Long-lived Assets Events surrounding the COVID-19 pandemic negatively impacted the expected undiscounted cash flows of certain of our long-lived assets.
Financial - Cash Flow Highlight
In addition, during the year ended December 31, 2020, we identified that the undiscounted cash flows for certain right-of-use assets were less than their carrying values due to the negative impact of COVID-19.
Financial - Expense Highlight
Improvement costs that we believe add value to our ships are capitalized as additions to the ship and depreciated over the shorter of the improvements' estimated useful lives or that of the associated ship.
Financial - Income Highlight
Adjusted Net (Loss) Income attributable to Royal Caribbean Cruises Ltd. represents net (loss) income less net income attributable to noncontrolling interest excluding certain items that we believe adjusting for is meaningful when assessing our performance on a comparative basis.
Financial - Cash Flow
During the year ended December...Read more
Financial - Earnings
This past year we successfully...Read more
Financial - Earnings
Adjusted (Loss) Earnings per Share...Read more
Financial - Cash Flow
Decreased demand for cruising as...Read more
Revenue - Product
Although we generated a fraction...Read more
Financial - Income
The 2021 increases in income...Read more
Financial - Earnings
As we focus on setting...Read more
Other - Other
Effective October 1, 2021, we...Read more
Financial - Cash Flow
Future suspension of our operations...Read more
Financial - Cash Flow
Impairment and Credit Losses For...Read more
Revenue - Product
The increase was driven by...Read more
Financial - Expense
Depreciation and Amortization Expenses Depreciation...Read more
Other - Other
Approximately 32% of the customer...Read more
Revenue - Product
(10) Represents the net gain...Read more
Revenue - Product
The increase is due to...Read more
Revenue - Geography
The effect of changes in...Read more
Other - Other
These proceeds were partially offset...Read more
Other - Other
We evaluated these assets during...Read more
Other - Other
These non-GAAP financial measures are...Read more
Financial - Cash Flow
The decrease of $29.9 million...Read more
Financial - Cash Flow
Gain on cash flow derivative...Read more
Other - Other
During our ramp up of...Read more
Financial - Expense
The increase in customer deposits...Read more
Financial - Expense
Uncertainties remain as to the...Read more
Financial - Cash Flow
Additionally, we expect total cash...Read more
Financial - Expense
However, should certain factors or...Read more
Other - Other
We temporarily applied the net...Read more
Other - Other
We temporarily applied the net...Read more
Financial - Cash Flow
Royal Caribbean International Reporting Unit...Read more
Other - Other
During the fourth quarter of...Read more
Financial - Cash Flow
This decrease was partially offset...Read more
Revenue - Product
Expected continued gradual resumption of...Read more
M & A - Other
Goodwill is recognized as the...Read more
Other - Other
Other intangible assets assigned finite...Read more
Financial - Expense
Cruise Operating Expenses Total Cruise...Read more
Other - Other
As amended by ASU No....Read more
Revenue - Product
Onboard and other revenues also...Read more
Revenue - Product
(3) For the year ended...Read more
Financial - Debt
Debt denominated in other currencies...Read more
Financial - Debt
(5) Debt denominated in other...Read more
Financial - Expense
While it is typically difficult...Read more
Financial - Debt
The change was primarily attributable...Read more
Financial - Expense
During 2021, we remained focused...Read more
Financial - Earnings
Liability-classified contingent consideration is remeasured...Read more
Financial - Shares
The effect of this change...Read more
Other - Other
Net cash used in investing...Read more
Other - Other
Despite these service disruptions and...Read more
Other - Other
(2) Due to the three-month...Read more
Other - Other
The increases in depreciation in...Read more
Other - Other
Quoted market prices are often...Read more
Other - Other
As of December 31, 2021...Read more
Other - Other
The impairment review for indefinite-life...Read more
Financial - Expense
If we had reduced our...Read more
Revenue - Geography
The effect of changes in...Read more
Financial - Earnings
Although Omicron has caused service...Read more
Financial - Cash Flow
The adverse impact that COVID-19...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

Exhibit 10.142: Material Contract

Exhibit 18.1: Letter Regarding Change In Accounting Principles

Exhibit 21.1: Subsidaries Of The Registrant

Exhibit 23.1: Consents Of Experts And Counsel

Exhibit 23.2: Consents Of Experts And Counsel

Exhibit 24.1: Power Of Attorney

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32.1: Section 1350 Certification

Ticker: RCL
CIK: 884887
Form Type: 10-K Annual Report
Accession Number: 0000884887-22-000008
Submitted to the SEC: Tue Mar 01 2022 9:15:18 AM EST
Accepted by the SEC: Tue Mar 01 2022
Period: Friday, December 31, 2021
Industry: Water Transportation

External Resources:
Stock Quote
Social Media
SEC.gov

Bookmark the Permalink:
https://last10k.com/sec-filings/rcl/0000884887-22-000008.htm

Royal Caribbean Cruises Ltd (RCL) SEC Filing 10-K Annual Report for the fiscal year ending Friday, December 31, 2021

SEC Filings

RCL Valuations

RCL Annual Reports

RCL Quarterly Reports

RCL Corporate News