Royal Caribbean Cruise Lines 2005 Annual Report Download - page 46

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Note 14. Quarterly Selected Financial Data (Unaudited)
(in thousands, except per share data)
FIRST QUARTER SECOND QUARTER THIRD QUARTER FOURTH QUARTER
2005 2004 2005 2004 2005 2004 2005 2004
Total revenues $1,168,077 $ 1,061,684 $1,203,242 $ 1,142,999 $1,502,215 $ 1,386,107 $1,029,640 $ 964,585
Operating income 1$ 201,178 $ 160,468 $ 214,135 $ 194,586 $ 400,456 $ 358,381 $ 55,796 $ 40,154
Income (loss) before
cumulative effect
of a change in
accounting
principle $ 137,118 $ 95,846 $ 155,240 $ 122,159 $ 374,711 $ 282,471 $ (3,604) $ (25,785)
Cumulative effect
of a change in
accounting
principle 152,491 –––––––
Net income (loss) $ 189,609 $ 95,846 $ 155,240 $ 122,159 $ 374,711 $ 282,471 $ (3,604) $ (25,785)
Basic earnings (loss)
per share:
Income (loss) before
cumulative effect
of a change in
accounting
principle $ 0.68 $ 0.49 $ 0.76 $ 0.61 $ 1.79 $ 1.42 $ (0.02) $ (0.13)
Cumulative effect
of a change in
accounting
principle 10.26 –––––––
Net income (loss) $ 0.94 $ 0.49 $ 0.76 $ 0.61 $ 1.79 $ 1.42 $ (0.02) $ (0.13)
Diluted earnings (loss)
per share:
Income (loss) before
cumulative effect
of a change in
accounting
principle $ 0.64 $ 0.47 $ 0.72 $ 0.58 $ 1.64 $ 1.26 $ (0.02) $ (0.13)
Cumulative effect
of a change in
accounting
principle 10.22 –––––––
Net income (loss) $ 0.86 $ 0.47 $ 0.72 $ 0.58 $ 1.64 $ 1.26 $ (0.02) $ (0.13)
Dividends declared
per share: $ 0.13 $ 0.13 $ 0.13 $ 0.13 $ 0.15 $ 0.13 $ 0.15 $ 0.13
1In the third quarter of 2005, we changed our method of accounting for drydocking costs. As a result of this change in accounting principle, we restated our previously reported
results of operations for the first and second quarters of 2005 (see Note 2.
Summary of Significant Accounting Policies
).
44 Royal Caribbean Cruises Ltd.
Notes to the Consolidated
Financial Statements (continued)