Carnival Cruises 2006 Annual Report Download - page 24
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NOTESTOCONSOLIDATEDFINANCIALSTATEMENTS(continued)
NOTE6—Commitments
ShipCommitments
AdescriptionofourshipsundercontractforconstructionatNovember30,2006,asadjustedforournewshipordersthrough
January2007,wasasfollows:
Expected
Service Passenger EstimatedTotalCost(b)
BrandandShip Date(a) Capacity Euros Sterling USD
(inmillions)
CarnivalCruiseLines
CarnivalFreedom.................................................. 3/07 2,974 $ 505
CarnivalSplendor .................................................. 7/08 3,000 € 485
CarnivalDream.................................................... 10/09 3,652 565
CarnivalMagic(c) ................................................... 6/11 3,652 565
TotalCarnivalCruiseLines......................................... 13,278 1,615 505
Princess
EmeraldPrincess .................................................. 4/07 3,100 540
Newbuild......................................................... 11/08 3,100 580
TotalPrincess ................................................... 6,200 1,120
HollandAmericaLine
Eurodam ......................................................... 7/08 2,044 465
Costa(d)
CostaSerena...................................................... 6/07 3,000 475
Newbuild......................................................... 5/09 2,260 420
Newbuild......................................................... 6/09 3,000 485
Newbuild(c) ....................................................... 4/10 2,260 420
TotalCosta...................................................... 10,520 1,800
AIDA(d)
AIDAdiva......................................................... 4/07 2,050 315
AIDAbella ........................................................ 4/08 2,050 315
Newbuild......................................................... 4/09 2,050 315
Newbuild......................................................... 4/10 2,050 335
TotalAIDA...................................................... 8,200 1,280
Seabourn
Newbuild......................................................... 6/09 450 200
Newbuild......................................................... 6/10 450 200
TotalSeabourn................................................... 900 400
P&OCruises
Ventura(e)......................................................... 4/08 3,076 £360
Newbuild(c) ....................................................... 6/10 3,076 535
TotalP&OCruises................................................ 6,152
Cunard
QueenVictoria(e)................................................... 12/07 2,014 305
TotalEuroCommitments.......................................... €5,630
TotalEuroCommitmentsconvertedtoUSD(f)......................... 7,430
TotalSterlingCommitments ....................................... £665
TotalSterlingCommitmentsconvertedtoUSD(f)...................... 1,300
GrandTotal...................................................... 49,308 $10,820
(a)Theexpectedservicedateisthemonthinwhichtheshipiscurrentlyexpectedtobeginitsfirstrevenuegeneratingcruise.
(b)Estimatedtotalcostofthecompletedshipincludesthecontractpricewiththeshipyard,designandengineeringfees,capitalizedinterest,constructionoversight
costsandvariousownersupplieditems.AllofourshipconstructioncontractsarewiththeFincantierishipyardsinItaly,exceptforAIDA’sandSeabourn’swhichare
withtheMeyerWerftshipyardinGermanyandT.MariottishipyardinItaly,respectively.Inaddition,theestimatedtotalcostreflectsthecurrencydenominationthat
wearecommittedtoexpend,includingtheeffectofforeigncurrencyswaps.
(c)Theseconstructioncontractsaggregating€1.52billionwereenteredintoafterNovember30,2006.
(d)Theseconstructioncontractsaredenominatedineuros,whichisthefunctionalcurrencyofthecruisebrandwhichwilloperatetheship.
(e)Theseconstructioncontractsaredenominatedineuros,exceptfor$45millionoftheQueenVictoriacosts,whicharedenominatedinUSD.TheeuroandUSD
denominatedcontractamountshavebeenfixedintosterling,whichisthecruiseship’sfunctionalcurrency,byutilizingforeigncurrencyswaps.
(f) TheestimatedtotalcostsofthesecontractsdenominatedineurosandsterlinghavebeentranslatedintoU.S.dollarsusingtheNovember30,2006exchangerates.