Carnival Cruises 2011 Annual Report Download - page 6

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CARNIVAL CORPORATION & PLC
CONSOLIDATED STATEMENTS OF INCOME
(in millions, except per share data)
Years Ended November 30,
2011 2010 2009
Revenues
Cruise
Passenger tickets ............................................... $12,158 $11,084 $10,288
Onboard and other .............................................. 3,357 3,104 2,885
Tour and other ................................................... 278 281 287
15,793 14,469 13,460
Costs and Expenses
Operating
Cruise
Commissions, transportation and other ............................ 2,461 2,272 2,220
Onboard and other ............................................ 506 474 461
Payroll and related ............................................ 1,723 1,611 1,498
Fuel ........................................................ 2,193 1,622 1,156
Food ....................................................... 965 869 839
Other ship operating ........................................... 2,247 2,032 1,997
Tour and other ................................................. 204 212 236
Total ......................................................... 10,299 9,092 8,407
Selling and administrative .......................................... 1,717 1,614 1,590
Depreciation and amortization ....................................... 1,522 1,416 1,309
13,538 12,122 11,306
Operating Income .................................................. 2,255 2,347 2,154
Nonoperating (Expense) Income
Interest income ................................................... 11 12 14
Interest expense, net of capitalized interest ............................. (365) (378) (380)
Gains on fuel derivatives, net ........................................ 1 - -
Other income (expense), net ......................................... 10 (2) 18
(343) (368) (348)
Income Before Income Taxes ........................................ 1,912 1,979 1,806
Income Tax Expense, Net ........................................... - (1) (16)
Net Income ....................................................... $ 1,912 $ 1,978 $ 1,790
Earnings Per Share
Basic ........................................................... $ 2.43 $ 2.51 $ 2.27
Diluted ......................................................... $ 2.42 $ 2.47 $ 2.24
Dividends Declared Per Share ....................................... $ 1.00 $ 0.40
The accompanying notes are an integral part of these consolidated financial statements.
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