Royal Caribbean Cruise Lines 2010 Annual Report Download - page 89

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2010 ANNUAL REPORT 86
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
NOTE 16. QUARTERLY SELECTED FINANCIAL DATA (UNAUDITED)
(In thousands, except per First Quarter Second Quarter Third Quarter Fourth Quarter
share data)        
Total revenues1       
Operating income            
Net income (loss)2,3,4   ()   ()     
Earnings (Loss)
per share:
Basic   ()   ()        
Diluted   ()   ()        
Dividends declared
per share — — — — — — — —
Our revenues are seasonal based on the demand for cruises. Demand is strongest for cruises during the Northern Hemisphere’s summer months and
holidays.
2 The first quarter of 2010 included a one-time gain of approximately $85.6 million, net of costs and payments to insurers, related to the settlement of
our case against Rolls Royce.
3 The first quarter of 2009 included a $7.1 million adjustment representing the cumulative reduction in fair value of certain interest rate swaps during
2007 and 2008 due to an error in data embedded in the interest rate swap valuation software we use.
4 The third quarter of 2009 included a $12.3 million adjustment representing the cumulative reduction in a deferred tax liability due to the change in
Spanish statutory tax rates enacted in 2006.