Royal Caribbean Cruise Lines 2008 Annual Report Download - page 58

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F-3 Royal Caribbean Cruises Ltd.
(in thousands, except per share data)
Year Ended December 31, 2008 2007 2006
Passenger ticket revenues $4,730,289 $4,427,384 $3,838,648
Onboard and other revenues 1,802,236 1,721,755 1,390,936
Total revenues 6,532,525 6,149,139 5,229,584
Cruise operating expenses:
Commissions, transportation and other 1,192,316 1,124,022 917,929
Onboard and other 458,385 405,637 331,218
Payroll and related 657,721 584,081 501,874
Food 342,620 322,996 278,604
Fuel 722,007 546,029 480,187
Other operating 1,030,617 998,933 739,817
Total cruise operating expenses 4,403,666 3,981,698 3,249,629
Marketing, selling and administrative expenses 776,522 783,040 699,864
Depreciation and amortization expenses 520,353 483,066 421,645
5,700,541 5,247,804 4,371,138
Operating Income 831,984 901,335 858,446
Other income (expense):
Interest income 14,116 20,025 15,238
Interest expense, net of interest capitalized (327,312) (333,784) (267,861)
Other income 54,934 15,829 28,099
(258,262) (297,930) (224,524)
Net Income $ 573,722 $ 603,405 $ 633,922
Basic Earnings per Share:
Net income $ 2.69 $ 2.84 $ 3.01
Diluted Earnings per Share:
Net income $ 2.68 $ 2.82 $ 2.94
The accompanying notes are an integral part of these consolidated financial statements.
CONSOLIDATED STATEMENTS OF OPERATIONS