Carnival Cruises 2011 Annual Report Download - page 32

Revenues
Operating
expenses
Selling
and
administrative
Depreciation
and
amortization
Operating
income
(loss)
Capital
expenditures
Total
assets
2010
North America Cruise Brands ....... $ 8,379 $5,294 $ 902 $ 843 $1,340 $1,082 $21,239
EAA Cruise Brands ............... 5,730 3,572 584 505 1,069 2,260 14,849
Cruise Support ................... 79 14 98 27 (60) 218 802
Tour and Other ................... 403 334 30 41 (2) 19 600(b)
Intersegment elimination (a) ........ (122) (122) - - - - -
$14,469 $9,092 $1,614 $1,416 $2,347 $3,579 $37,490
2009
North America Cruise Brands ....... $ 7,815 $4,944 $ 896 $ 791 $1,184 $1,474 $21,073
EAA Cruise Brands ............... 5,280 3,215 573 458 1,034 1,823 14,659
Cruise Support ................... 78 12 89 25 (48) 58 593
Tour and Other ................... 427 376 32 35 (16) 25 510 (b)
Intersegment elimination (a) ........ (140) (140) - - - - -
$13,460 $8,407 $1,590 $1,309 $2,154 $3,380 $36,835
(a) A portion of Tour and Other segment revenues include revenues for the cruise portion of a tour, when a cruise is
sold along with a land tour package by Holland America Princess Alaska Tours, and shore excursion and port
hospitality services provided to cruise guests by this tour company. These intersegment revenues, which are
included in full in the cruise brand segments, are eliminated directly against the Tour and Other segment revenues
and operating expenses in the line “Intersegment elimination.”
(b) Tour and Other segment assets primarily include hotels and lodges in the state of Alaska and the Canadian Yukon,
motorcoaches used for sightseeing and charters, domed rail cars, which run on the Alaska Railroad, and our
owned ships under long-term charter to an unaffiliated entity.
Non-U.S. revenues for our cruise brands represent sales generated from outside the U.S. primarily by non-U.S. tour
operators and non-U.S. travel agencies. Substantially all of our long-lived assets are located outside of the U.S. and
consist principally of our ships and ships under construction.
Revenues by geographic areas, which are based on where our guests are sourced and not the cruise brands on which
they sailed, were as follows (in millions):
Years Ended November 30,
2011 2010 2009
North America .......................................................... $ 7,835 $ 7,467 $ 7,085
Europe ................................................................ 5,961 5,574 5,190
Australia and Asia ....................................................... 1,528 1,063 790
Others ................................................................. 469 365 395
$15,793 $14,469 $13,460
NOTE 12 – Compensation Plans
Equity Plans
We issue our share-based compensation awards under the Carnival Corporation and Carnival plc stock plans, which
have an aggregate of 30.3 million shares available for future grant at November 30, 2011. These plans allow us to issue
restricted stock awards, restricted stock units, performance-based share (“PBS”) awards and stock options (collectively
“equity awards”). Equity awards are primarily granted to management level employees and members of our Boards of
Directors. The plans are administered by a committee of our independent directors (the “Committee”) that determines
which employees are eligible to participate, the monetary value or number of shares for which equity awards are to be
granted and the amounts that may be exercised or sold within a specified term. These plans allow us to fulfill our
equity award obligations using shares purchased in the open market or with unissued or treasury shares. Certain equity
awards provide for accelerated vesting if we have a change in control, as defined.
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