Carnival Cruises 2004 Annual Report Download - page 40

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Carnival Corporation & plc 37
Summary
Our reported and pro forma results of operations and selected statistical information were as follows:
Years Ended November 30,
Pro Forma Reported Pro Forma Reported
2004 2003 2003 2002 2002
(dollars in millions, except statistical information)
Revenues
Cruise
Passenger tickets. . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 7,357 $ 5,732 $ 5,039 $ 5,128 $ 3,346
Onboard and other . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,070 1,600 1,420 1,356 898
Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 300 264 259 284 139
9,727 7,596 6,718 6,768 4,383
Costs and Expenses
Operating
Cruise
Commissions, transportation and other . . . . . . . . . 1,572 1,227 1,021 1,121 658
Onboard and other . . . . . . . . . . . . . . . . . . . . . . . . . 359 279 229 240 116
Payroll and related . . . . . . . . . . . . . . . . . . . . . . . . . 1,003 841 744 676 458
Food . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 550 447 393 381 256
Other ship operating . . . . . . . . . . . . . . . . . . . . . . . 1,763 1,428 1,237 1,149 734
Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 210 198 190 211 108
Total. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5,457 4,420 3,814 3,778 2,330
Selling and administrative . . . . . . . . . . . . . . . . . . . . . . . 1,285 1,103 936 960 609
Depreciation and amortization . . . . . . . . . . . . . . . . . . . . 812 653 585 534 382
Impairment charge. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20 20
Operating Income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,173 1,420 1,383 1,476 1,042
Nonoperating Expense, Net . . . . . . . . . . . . . . . . . . . . . . (272) (185) (160) (148) (83)
Income Before Income Taxes . . . . . . . . . . . . . . . . . . . . . 1,901 1,235 1,223 1,328 959
Income Tax (Expense) Benefit, Net . . . . . . . . . . . . . . . . . (47) (25) (29) 46 57
Net Income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 1,854 $ 1,210 $ 1,194 $ 1,374 $ 1,016
Selected Statistical Information
Passengers carried (in thousands) . . . . . . . . . . . . . . . . . 6,306 5,422 5,038 4,725 3,549
Occupancy percentage . . . . . . . . . . . . . . . . . . . . . . . . . 104.5% 102.6% 103.4% 103.5% 105.2%
Gross and net revenue yields were computed by dividing the gross or net revenues, without rounding, by ALBDs
as follows:
Years Ended November 30,
Pro Forma Reported Pro Forma Reported
2004 2003 2003 2002 2002
(in millions, except ALBDs and yields)
Cruise revenues
Passenger tickets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 7,357 $ 5,732 $ 5,039 $ 5,128 $ 3,346
Onboard and other. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,070 1,600 1,420 1,356 898
Gross cruise revenues . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9,427 7,332 6,459 6,484 4,244
Less cruise costs
Commissions, transportation and other . . . . . . . . . . . . . (1,572) (1,227) (1,021) (1,121) (658)
Onboard and other. . . . . . . . . . . . . . . . . . . . . . . . . . . . . (359) (279) (229) (240) (116)
Net cruise revenues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 7,496 $ 5,826 $ 5,209 $ 5,123 $ 3,470
ALBDs. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 44,009,061 37,554,709 33,309,785 31,962,000 21,435,828
Gross revenue yields . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $214.21 $195.23 $193.91 $202.85 $198.01
Net revenue yields. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $170.32 $155.11 $156.38 $160.25 $161.91