Carnival Cruises 2012 Annual Report Download - page 94

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Table of Contents
Our North America cruise segment includes Carnival Cruise Lines, Holland America Line, Princess and Seabourn. Our EAA cruise segment includes AIDA,
Costa, Cunard, Ibero, P&O Cruises (Australia) and P&O Cruises (UK). These individual cruise brand operating segments have been aggregated into two
reportable segments based on the similarity of their economic and other characteristics, including types of customers, regulatory environment, maintenance
requirements, supporting systems and processes and products and services they provide. Our Cruise Support segment represents certain of our port and
related facilities and other corporate-wide services that are provided for the benefit of our cruise brands. Our Tour and Other segment represents the hotel and
transportation operations of Holland America Princess Alaska Tours and two of our ships that we charter to an unaffiliated entity. The significant accounting
policies of our segments are the same as those described in Note 2 – “Summary of Significant Accounting Policies.”
Selected information for our Cruise and Tour and Other segments as of and for the years ended November 30 was as follows (in millions):
Revenues
Operating
expenses
Selling
and
administrative
Depreciation
and
amortization
Operating
income
(loss)
Capital
expenditures
Total
assets
2012
North America Cruise Brands (a) $9,364 $ 6,240 $949 $898 $1,277 $990 $21,893
EAA Cruise Brands 5,827 4,010 650 561 433(b) 1,291 15,894
Cruise Support 86 22 114 28 (78) 33 888
Tour and Other (a) 211 154 7 40 10 18 486(c)
Intersegment elimination (a) (106) (106) - - - - -
$15,382 $10,320 $ 1,720 $1,527 $1,642 $2,332 $39,161
2011
North America Cruise Brands (a) $8,921 $5,848 $ 938 $869 $1,266 $ 1,232 $21,642
EAA Cruise Brands 6,504 4,244 655 579 1,026 1,380 15,626
Cruise Support 90 3 103 31 (47) 68 795
Tour and Other (a) 392 318 21 43 10 16 574(c)
Intersegment elimination (a) (114) (114) - - - - -
$15,793 $10,299 $1,717 $1,522 $2,255 $2,696 $ 38,637
2010
North America Cruise Brands (a) $8,379 $5,294 $ 902 $843 $1,340 $ 1,082 $21,239
EAA Cruise Brands 5,730 3,572 584 505 1,069 2,260 14,849
Cruise Support 79 14 98 27 (60) 218 802
Tour and Other (a) 403 334 30 41 (2) 19 600(c)
Intersegment elimination (a) (122) (122) - - - - -
$14,469 $9,092 $1,614 $1,416 $2,347 $3,579 $37,490
(a) In 2011 and 2010, a portion of Tour and Other segment revenues included revenues for the cruise portion of a tour when a cruise was sold along with a
land tour package by Holland America Princess Alaska Tours. These intersegment cruise revenues, which were included in our North America cruise
brands’ segment, were eliminated directly against the Tour and Other segment revenues and operating expenses in the line “Intersegment elimination.”
In 2012, the Tour and Other segment no longer includes revenues for the cruise portion of a tour. However, a portion of the North America cruise
brands’ segment revenues include revenues for the tour portion of a cruise when a land tour package is sold along with a cruise by Holland America
Line and Princess. These intersegment tour revenues, which are included in our Tour and Other segment, are eliminated directly against the North
America cruise brands’ segment revenues and operating expenses in the line “Intersegment elimination.”
This change in 2012 from prior years is referred to as “the change in the accounting for our North America cruise brands and Tour and Other segments”
and did not have a significant impact on either of these segments’ 2012, 2011 and 2010 operating income.
(b) Includes $173 million of impairment charges related to Ibero’s goodwill and trademarks.
(c) Tour and Other segment assets primarily include hotels and lodges in the state of Alaska and the Canadian Yukon, motorcoaches used for sightseeing
and charters, domed rail cars, which run on the Alaska Railroad, and our owned ships under long-term charter to an unaffiliated entity.
Non-U.S. revenues for our cruise brands represent sales generated from outside the U.S. principally by non-U.S. tour operators and non-U.S. travel agencies.
Substantially all of our long-lived assets are located outside of the U.S. and consist principally of our ships and ships under construction.
F-24