Carnival Cruises 2013 Annual Report Download - page 114

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Table of Contents
(a) Non-GAAP net income and fully diluted earnings per share were computed as follows:
As of November 30,
2013 2012 2011 2010 2009
Net income – diluted
U.S. GAAP net income $ 1,078 $1,298 $1,912 $1,978 $1,790
Losses (gains) on ship sales including
impairments, net (i) 163 49 28 (44)(ii) -
Goodwill, trademark and other impairment
charges (i) 27 173 - - -
Unrealized gains on fuel derivatives, net (36) (6) (1) - -
Non-GAAP net income $ 1,232 $1,514 $1,939 $ 1,934 $1,790
Weighted-average shares outstanding – diluted 777 779 789 805 804
Earnings per share – diluted
U.S. GAAP earnings per share $ 1.39 $1.67 $2.42 $2.47 $2.24
Losses (gains) on ship sales including
impairments, net (i) 0.21 0.06 0.04 (0.05)(ii) -
Goodwill, trademark and other impairment
charges (i) 0.03 0.22 - - -
Unrealized gains on fuel derivatives, net (0.05) (0.01) - - -
Non-GAAP earnings per share (i) $1.58 $ 1.94 $ 2.46 $2.42(ii) $2.24
(i). See “Key Performance Non-GAAP Financial Indicators” in the accompanying consolidated financial statements for further discussion of the
losses (gains) on ship sales including impairments, net and goodwill, trademark and other impairment charges for the years ended November 30,
2013, 2012, and 2011.
(ii). Represents the 2010 gain on the sale of P&O Cruises (UK)’s Artemis and, accordingly, we changed our previously reported non-GAAP earnings
per share from $2.47 to $2.42 to exclude this gain on ship sale to be consistent with our treatment of these types of items in our 2013 non-GAAP
earnings per share.
(b) Includes a special dividend of $0.50 per share.
(c) Net of $508 million of euro-denominated hull and machinery insurance proceeds received for the total loss of a ship.
(d) Percentage of total debt to the sum of total debt and shareholders’ equity.
F-55