Carnival Cruises 2004 Annual Report Download - page 47

Selected Financial Data
The selected consolidated financial data presented below for fiscal 2000 through 2004 and as of the end of each
such year, are derived from our audited financial statements and should be read in conjunction with those financial
statements and the related notes.
Years Ended November 30,
2004 2003 2002 2001 2000
(in millions, except per share and other operating data)
Statement of Operations and Cash Flow Data(a)(b)
Revenues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 9,727 $ 6,718 $ 4,383 $ 4,549 $3,791
Operating income . . . . . . . . . . . . . . . . . . . . . . . . . $ 2,173 $ 1,383 $ 1,042 $ 892 $ 983
Net income(c) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 1,854 $ 1,194 $ 1,016(d) $ 926(d) $ 965
Earnings per share(c)
Basic . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 2.31 $ 1.66 $ 1.73 $ 1.58 $ 1.61
Diluted(e) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 2.24 $ 1.63 $ 1.69 $ 1.57 $ 1.60
Dividends declared per share . . . . . . . . . . . . . . . . $ 0.525 $ 0.440 $ 0.420 $ 0.420 $0.420
Cash from operations . . . . . . . . . . . . . . . . . . . . . . $ 3,216 $ 1,933 $ 1,469 $ 1,239 $1,280
Capital expenditures . . . . . . . . . . . . . . . . . . . . . . . $ 3,586 $ 2,516 $ 1,986 $ 827 $1,003
Other Operating Data(a)(b)
Available lower berth days(f) . . . . . . . . . . . . . . . . . . 44,009,061 33,309,785 21,435,828 20,685,123 15,888,404
Passengers carried . . . . . . . . . . . . . . . . . . . . . . . . 6,306,168 5,037,553 3,549,019 3,385,280 2,669,153
Occupancy percentages(g) . . . . . . . . . . . . . . . . . . . 104.5% 103.4% 105.2% 104.7% 105.4%
As of November 30,
2004 2003 2002 2001 2000
(in millions, except percentages)
Balance Sheet and Other Data(a)(b)
Total assets. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $27,636 $24,491 $12,335 $11,564 $9,831
Long-term debt, excluding current portion . . . . . . . $ 6,291 $ 6,918 $ 3,014 $ 2,955 $2,099
Total shareholders’ equity . . . . . . . . . . . . . . . . . . . $15,760 $13,793 $ 7,418 $ 6,591 $5,871
Debt to capital(h) . . . . . . . . . . . . . . . . . . . . . . . . . . . 33.5% 34.9% 29.9% 31.1% 28.6%
(a) Includes the results of Carnival plc since April 17, 2003. Accordingly, the information for 2004 and 2003 is not comparable to the
prior periods. Our results for the three years prior to fiscal 2004, were negatively affected by a number of factors affecting con-
sumers’ vacation demands including, among other things, armed conflicts in the Middle East and elsewhere, terrorist attacks in
the U.S. and elsewhere, the uncertain worldwide economy and adverse publicity surrounding these and other events.
(b) From June 1997 through September 28, 2000, we owned 50% of Costa. On September 29, 2000, we completed the acquisition
of the remaining 50% interest in Costa. We accounted for this transaction using the purchase accounting method. In fiscal 2000,
we accounted for our 50% interest in Costa using the equity method. Commencing in fiscal 2001, Costa’s results of operations
have been consolidated. Our November 30, 2000 and subsequent consolidated balance sheets include Costa’s balance sheet.
The statistical information for 2000 does not include Costa.
44 Carnival Corporation & plc