Royal Caribbean Cruise Lines 2011 Annual Report Download - page 73
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CONSOLIDATED STATEMENTS OF CASH FLOWS
ROYAL CARIBBEAN CRUISES LTD. 69
Year Ended December 31,
(in thousands)
Operating Activities
Net income
Adjustments:
Depreciation and amortization
(Gain) loss on fuel call options
Changes in operating assets and liabilities: ()
Decrease (increase) in trade and other receivables, net ()
Increase in inventories () () ()
Increase in prepaid expenses and other assets () () ()
Increase (decrease) in accounts payable ()
(Decrease) increase in accrued interest ()
Increase in accrued expenses and other liabilities
Increase in customer deposits
Cash received on early settlement of derivative financial instruments —
Dividends received from unconsolidated affiliates — —
Other, net
Net cash provided by operating activities
Investing Activities
Purchases of property and equipment () () ()
Cash received (paid) on settlement of derivative financial instruments ()
Loans and equity contributions to unconsolidated affiliates () — ()
Proceeds from sale of ships —
Other, net () () ()
Net cash used in investing activities () () ()
Financing Activities
Debt proceeds
Debt issuance costs () () ()
Repayments of debt () () ()
Dividends paid () — —
Proceeds from exercise of common stock options
Other, net
Net cash (used in) provided by financing activities ()
Effect of exchange rate changes on cash () ()
Net (decrease) increase in cash and cash equivalents () ()
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year
Supplemental Disclosures
Cash paid during the year for:
Interest, net of amount capitalized
The accompanying notes are an integral part of these consolidated financial statements.