Carnival Cruises 2006 Annual Report Download - page 45

Carnival฀Corporation฀&฀plc฀|฀page฀41
Future฀Commitments฀and฀Funding฀Sources
At฀November฀30,฀2006,฀our฀contractual฀cash฀obligations,฀including฀ship฀construction฀contracts฀entered฀into฀through฀January฀2007,฀
and฀the฀effects฀such฀obligations฀are฀expected฀to฀have฀on฀our฀liquidity฀and฀cash฀flow฀in฀future฀periods฀were฀as฀follows฀(in฀millions):
Payments฀Due฀by฀Fiscal฀Year
Contractual฀Cash฀Obligations Total 2007 2008 2009 2010 2011 Thereafter
Recorded฀Contractual฀Obligations
Long-term฀debt(a) ฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀ $฀ 7,409 $฀1,054 $฀1,930 $฀ 202 $฀1,108 $฀ 202 $2,913
Short-term฀borrowings(a)฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀ 438 438
Other฀long-term฀liabilities฀reflected฀on฀the฀balance฀sheet(b)฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀ 495 29 79 62 47 40 238
Unrecorded฀Contractual฀Obligations
Shipbuilding(a) ฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀ 9,898 2,653 2,514 2,426 1,688 617
Port฀facilities฀and฀other(a) ฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀ 639 107 97 83 74 61 217
Purchase฀obligations(c) ฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀ 643 571 43 24 3 1 1
Operating฀leases(a) ฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀ 350 40 36 34 31 29 180
Fixed฀rate฀interest฀payments(d)฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀ 1,700 217 192 169 165 158 799
Variable฀rate฀interest฀payments(d)฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀ 330 123 73 65 33 13 23
Total฀contractual฀cash฀obligations(e)฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀.฀ $฀21,902 $฀5,232 $฀4,964 $฀3,065 $฀3,149 $฀1,121 $4,371
(a)฀฀See฀Notes฀5฀and฀6฀in฀the฀accompanying฀financial฀statements฀for฀additional฀information฀regarding฀these฀contractual฀cash฀obligations.
(b)฀฀Represents฀cash฀outflows฀for฀certain฀of฀our฀long-term฀liabilities฀that฀could฀be฀reasonably฀estimated.฀The฀primary฀outflows฀are฀for฀estimates฀of฀our฀employee฀benefit฀
plan฀obligations,฀crew฀and฀passenger฀claims,฀certain฀deferred฀income฀taxes,฀derivative฀contracts฀payable,฀and฀other฀long-term฀liabilities.฀Other฀long-term฀liabilities,฀
such฀as฀deferred฀income,฀fair฀value฀of฀hedged฀commitments฀and฀certain฀deferred฀income฀taxes,฀have฀been฀excluded฀from฀the฀table฀as฀they฀do฀not฀require฀cash฀
settlement฀in฀the฀future฀or฀the฀timing฀of฀the฀cash฀outflow฀cannot฀be฀reasonably฀estimated.
(c)฀฀Represents฀legally-binding฀commitments฀to฀purchase฀inventory฀and฀other฀goods฀and฀services฀made฀in฀the฀normal฀course฀of฀business฀to฀meet฀operational฀require-
ments.฀Many฀of฀our฀contracts฀contain฀clauses฀that฀allow฀us฀to฀terminate฀the฀contract฀with฀notice,฀and฀with฀or฀without฀a฀termination฀penalty.฀Termination฀penalties฀
are฀generally฀an฀amount฀less฀than฀the฀original฀obligation.฀Historically,฀we฀have฀not฀had฀any฀significant฀defaults฀of฀our฀contractual฀obligations฀or฀incurred฀significant฀
penalties฀for฀termination฀of฀our฀contractual฀obligations.
(d)฀฀Fixed฀rate฀interest฀payments฀represent฀cash฀outflows฀for฀fixed฀interest฀payments,฀including฀interest฀swapped฀from฀a฀variable฀rate฀to฀a฀fixed฀rate.฀Variable฀rate฀interest฀
payments฀represent฀forecasted฀cash฀outflows฀for฀interest฀payments฀on฀variable฀rate฀debt,฀including฀interest฀swapped฀from฀a฀fixed฀rate฀to฀a฀variable฀rate,฀using฀the฀
November฀30,฀2006฀forward฀interest฀rate฀curve฀for฀the฀terms฀of฀the฀loans.
(e)฀Foreign฀currency฀payments฀are฀based฀on฀the฀November฀30,฀2006฀exchange฀rates.