ROYAL CARIBBEAN CRUISES LTD
For the period ended Dec 31, 2025. Filed Feb 11, 2026.
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FY2025 · Filed Feb 11, 2026
RCL$339.85+0.9%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Comprehensive Income (Loss F-
(in millions, except per share data)
| Year Ended December 31, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| Passenger ticket revenues | $12,515 | $11,499 | $9,568 |
| Onboard and other revenues | 5,419 | 4,986 | 4,332 |
| Total revenues | 17,935 | 16,484 | 13,900 |
| Cruise operating expenses: | |||
| Commissions, transportation and other | 2,369 | 2,250 | 2,001 |
| Onboard and other | 981 | 909 | 809 |
| Payroll and related | 1,366 | 1,301 | 1,197 |
| Food | 1,019 | 934 | 819 |
| Fuel | 1,146 | 1,160 | 1,150 |
| Other operating | 2,202 | 2,098 | 1,799 |
| Total cruise operating expenses | 9,083 | 8,652 | 7,775 |
| Marketing, selling and administrative expenses | 2,223 | 2,125 | 1,792 |
| Depreciation and amortization expenses | 1,718 | 1,600 | 1,455 |
| Operating Income | 4,910 | 4,106 | 2,878 |
| Other income (expense): | |||
| Interest income | 24 | 16 | 36 |
| Interest expense, net of interest capitalized | (992) | (1,590) | (1,402) |
| Equity investment income | 414 | 260 | 200 |
| Other income (expense) | 17 | 149 | (2) |
| Income before income taxes | 4,373 | 2,941 | 1,711 |
| Provision for income taxes | (82) | (46) | (6) |
| Net Income | 4,291 | 2,896 | 1,704 |
| Less: Net Income attributable to noncontrolling interest | 23 | 18 | 7 |
| Net Income attributable to Royal Caribbean Cruises Ltd. | $4,268 | $2,877 | $1,697 |
| Earnings per Share: | |||
| Basic | $15.75 | $11.00 | $6.63 |
| Diluted | $15.61 | $10.94 | $6.31 |
| Comprehensive Income (Loss) | |||
| Net Income | $4,291 | $2,896 | $1,704 |
| Other comprehensive income (loss): | |||
| Foreign currency translation adjustments | (26) | 17 | (9) |
| Change in defined benefit plans | (4) | 12 | 6 |
| Gain (loss) on cash flow derivative hedges | 228 | (157) | (27) |
| Total other comprehensive income (loss) | 198 | (128) | (30) |
| Comprehensive Income | 4,489 | 2,768 | 1,674 |
| Less: Comprehensive Income attributable to noncontrolling interest | 23 | 18 | 7 |
| Comprehensive Income attributable to Royal Caribbean Cruises Ltd. | $4,466 | $2,750 | $1,667 |
Certain amounts may not add or calculate due to use of rounded numbers.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.