Carnival Cruises 2013 Annual Report Download - page 87

Download and view the complete annual report

Please find page 87 of the 2013 Carnival Cruises annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 131

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131

Table of Contents
NOTE 11 – Segment Information
We have three reportable cruise segments that are comprised of our (1) North America cruise brands, (2) EAA cruise brands and (3) Cruise Support. In
addition, we have a Tour and Other segment. Our segments are reported on the same basis as the internally reported information that is provided to our chief
operating decision maker (“CODM”), who is the President and Chief Executive Officer of Carnival Corporation and Carnival plc. Decisions to allocate
resources and assess performance for Carnival Corporation & plc are made by the CODM upon review of the segment results across all of our cruise brands
and other segments.
Our North America cruise segment includes Carnival Cruise Lines, Holland America Line, Princess and Seabourn. Our EAA cruise segment includes AIDA,
Costa, Cunard, Ibero, P&O Cruises (Australia) and P&O Cruises (UK). These individual cruise brand operating segments have been aggregated into two
reportable segments based on the similarity of their economic and other characteristics, including types of customers, regulatory environment, maintenance
requirements, supporting systems and processes and products and services they provide. Our Cruise Support segment represents certain of our port and
related facilities and other corporate-wide services that are provided for the benefit of our cruise brands. Our Tour and Other segment represents the hotel and
transportation operations of Holland America Princess Alaska Tours. In 2012 and 2011, our Tour and Other segment also included two ships that we
chartered to an unaffiliated entity. In April 2013, we sold one of these two ships and recognized a $15 million gain as a reduction of Tour and Other operating
expenses. Accordingly, subsequent to this 2013 sale our Tour and Other segment included only one ship. The significant accounting policies of our segments
are the same as those described in Note 2 – “Summary of Significant Accounting Policies.”
Selected information for our segments as of and for the years ended November 30 was as follows (in millions):
Revenues
Operating
expenses
Selling
and
administrative
Depreciation
and
amortization
Operating
income
(loss)
Capital
expenditures
Total
assets
2013
North America Cruise Brands (a) $ 9,370 $6,439 $1,048 $927 $956 $ 1,350 $22,448
EAA Cruise Brands 5,906 4,137 686 599 471(b) 642 16,126
Cruise Support 96 31 136 26 (97) 108 1,016
Tour and Other (a) 210 143 9 36 22 49 514(c)
Intersegment elimination (a) (126) (126) - - - - -
$15,456 $ 10,624 $1,879 $1,588 $1,352 $2,149 $40,104
2012
North America Cruise Brands (a) $9,364 $ 6,240 $949 $898 $1,277 $990 $21,893
EAA Cruise Brands 5,827 4,010 650 561 433(b) 1,291 15,894
Cruise Support 86 22 114 28 (78) 33 888
Tour and Other (a) 211 154 7 40 10 18 486(c)
Intersegment elimination (a) (106) (106) - - - - -
$15,382 $10,320 $ 1,720 $1,527 $1,642 $2,332 $39,161
2011
North America Cruise Brands (a) $8,921 $5,848 $ 938 $869 $1,266 $ 1,232 $21,642
EAA Cruise Brands 6,504 4,244 655 579 1,026 1,380 15,626
Cruise Support 90 3 103 31 (47) 68 795
Tour and Other (a) 392 318 21 43 10 16 574(c)
Intersegment elimination (a) (114) (114) - - - - -
$15,793 $10,299 $1,717 $1,522 $2,255 $2,696 $ 38,637
F-28