Royal Caribbean Cruise Lines 2001 Annual Report Download - page 52

Download and view the complete annual report

Please find page 52 of the 2001 Royal Caribbean Cruise Lines annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 56

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56

Notes to the Consolidated Financial Statements (continued)
50 Royal Caribbean Cruises Ltd.
OPERATING LEASES
We are obligated under noncancelable operating leases
primarily for office and warehouse facilities, computer equip-
ment and motor vehicles. As of December 31, 2001, future
minimum lease payments under noncancelable operating leases
were as follows (in thousands):
Year
2002 $11,430
2003 11,251
2004 10,597
2005 7,606
2006 5,238
Thereafter 41,735
$87,857
Total rent expense for all operating leases amounted to
$9.8 million, $6.7 million and $5.1 million for the years 2001,
2000 and 1999, respectively.
OTHER
At December 31, 2001, we have future commitments to pay
for our usage of certain port facilities, maintenance contracts
and communication services as follows (in thousands):
Year
2002 $ 25,684
2003 26,200
2004 25,129
2005 20,130
2006 17,666
Thereafter 113,428
$228,237
Note 13. Quarterly Data (unaudited)
First Quarter Second Quarter Third Quarter Fourth Quarter
(in thousands, except per share data) 2001 2000 2001 2000 2001 2000 2001 2000
Revenues $726,878 $707,786 $821,674 $680,731 $940,721 $835,210 $655,977 $642,118
Operating Income $ 90,084 $139,636 $135,275 $131,196 $211,257 $236,166 $ 18,989 $ 62,542
Net Income (Loss) $ 52,497 $105,528 $ 81,713 $108,258 $159,212 $201,497 $ (38,965) $ 30,080
Earnings (Loss) Per Share:
Basic $ 0.27 $ 0.57 $ 0.43 $ 0.57 $ 0.83 $ 1.05 $ (0.20) $ 0.16
Diluted $ 0.27 $ 0.55 $ 0.42 $ 0.56 $ 0.82 $ 1.04 $ (0.20) $ 0.16
Dividends Declared Per Share $ 0.13 $ 0.11 $ 0.13 $ 0.11 $ 0.13 $ 0.13 $ 0.13 $ 0.13