Royal Caribbean Cruise Lines 2011 Annual Report Download - page 98
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2011 ANNUAL REPORT 94
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 income2,3
Earnings per share:
Basic3
Diluted3
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 Amounts for 2010 and amounts for the first quarter of 2011 include a revision for the correction of an error in the manner in which we were amortizing
certain guarantee fees. Refer to the tables below which present the effects of the revision on the Company’s Consolidated Statements of Operations
for these respective periods.
The following tables present the effects of the revision on the Company’s Consolidated Statements of Operations
for the periods noted above. (See Note 1. General—Revision of Prior Period Financial Statements for further details.)
Quarter Ended March 31, 2011 Quarter Ended March 31, 2010
(in thousands, except per share data)
As
Previously
Reported Adjustment As Revised
As
Previously
Reported Adjustment As Revised
Interest expense, net of interest capitalized () () () () () ()
Total other expense () () () () () ()
Net income () ()
Earnings per share:
Basic () ()
Diluted () ()
Quarter Ended June 30, 2010
(in thousands,
except per share data)
As
Previously
Reported Adjustment
As
Revised
Interest expense,
net of interest
capitalized () () ()
Total other expense () () ()
Net income ()
Earnings per share:
Basic ()
Diluted ()
Quarter Ended September 30, 2010
(in thousands,
except per share data)
As
Previously
Reported Adjustment
As
Revised
Interest expense,
net of interest
capitalized () () ()
Total other expense () () ()
Net income ()
Earnings per share:
Basic ()
Diluted ()
Quarter Ended December 31, 2010
(in thousands,
except per share data)
As
Previously
Reported Adjustment
As
Revised
Interest expense,
net of interest
capitalized () () ()
Total other expense () () ()
Net income (Loss) ()
Earnings (Loss) per
share:
Basic ()
Diluted ()