ROYAL CARIBBEAN CRUISES LTD
For the period ended Dec 31, 2024. Filed Feb 14, 2025.
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FY2024 · Filed Feb 14, 2025
RCL$339.85+0.9%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Cash Flows F-
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| (in millions) | |||
| Operating Activities | |||
| Net Income (Loss) | $2,896 | $1,704 | $(2,156) |
| Adjustments: | |||
| Depreciation and amortization | 1,600 | 1,455 | 1,407 |
| Net deferred income tax benefit | — | (8) | (22) |
| Loss (gain) on derivative instruments not designated as hedges | 77 | (19) | 100 |
| Share-based compensation expense | 267 | 126 | 36 |
| Equity investment (income) loss | (260) | (200) | (57) |
| Amortization of debt issuance costs, discounts and premiums | 98 | 109 | 163 |
| Loss on extinguishment of debt and inducement expense | 463 | 121 | 94 |
| Changes in operating assets and liabilities: | |||
| Decrease (increase) in trade and other receivables | 52 | 99 | (234) |
| Increase in inventories, net | (17) | (24) | (74) |
| Increase in prepaid expenses and other assets | (137) | (184) | (153) |
| Increase in accounts payable | 120 | 124 | 75 |
| Increase in accrued expenses and other liabilities | — | 13 | 352 |
| Increase in customer deposits | 186 | 1,143 | 1,007 |
| Other, net | (80) | 18 | (57) |
| Net cash provided by operating activities | 5,265 | 4,477 | 481 |
| Investing Activities | |||
| Purchases of property and equipment | (3,268) | (3,897) | (2,710) |
| Cash received on settlement of derivative financial instruments | 14 | 35 | 53 |
| Cash paid on settlement of derivative financial instruments | (130) | (86) | (356) |
| Investments in and loans to unconsolidated affiliates | (67) | (31) | — |
| Cash received on loans to unconsolidated affiliates | 18 | 40 | 19 |
| Other, net | (13) | 16 | 7 |
| Net cash used in investing activities | (3,446) | (3,923) | (2,987) |
| Financing Activities | |||
| Debt proceeds | 10,318 | 7,641 | 9,787 |
| Debt issuance costs | (133) | (194) | (252) |
| Repayments of debt | (11,651) | (9,566) | (7,729) |
| Premium on repayment of debt | (292) | (80) | (49) |
| Dividends paid | (107) | — | — |
| Proceeds from sale of noncontrolling interest | — | 209 | — |
| Other, net | (57) | (3) | (16) |
| Net cash (used in) provided by financing activities | (1,922) | (1,993) | 1,741 |
| Effect of exchange rate changes on cash and cash equivalents | (6) | 1 | (2) |
| Net decrease in cash and cash equivalents | (109) | (1,438) | (767) |
| Cash and cash equivalents at beginning of year | 497 | 1,935 | 2,702 |
| Cash and cash equivalents at end of year | $388 | $497 | $1,935 |
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| (in millions) | |||
| Supplemental Disclosures | |||
| Cash paid during the year for: | |||
| Interest, net of amount capitalized | $1,210 | $1,442 | $960 |
| Non-Cash Investing Activities | |||
| Purchases of property and equipment included in accounts payable and accrued expenses and other liabilities | $47 | $50 | $34 |
| Acquisition of property and equipment from assumed debt | $— | $— | $277 |
| Non-Cash Financing Activities | |||
| Debt related to acquisition of property and equipment | $— | $— | $277 |
| Non-cash inducement on convertible notes exchange | $104 | $— | $— |
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