Carnival Cruises 2014 Annual Report Download - page 72

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(a) Non-GAAP net income and fully diluted earnings per share were computed as follows:
As of November 30,
2014 2013 2012 2011 2010
Net income – diluted
U.S. GAAP net income .............................. $1,236 $1,078 $1,298 $1,912 $1,978
Losses (gains) on ship sales and ship impairments, net (i) . . . 2 163 49 28(ii) (44)(iii)
Goodwill, trademark and other impairment charges (i) ...... - 27 173 - -
Restructuring expenses (i) ............................ 18 - - - -
Unrealized losses (gains) on fuel derivatives, net .......... 268 (36) (6) (1) -
Non-GAAP net income .............................. $1,524 $1,232 $1,514 $1,939 $1,934
Weighted-average shares outstanding – diluted ............ 778 777 779 789 805
Earnings per share – diluted
U.S. GAAP earnings per share ....................... $ 1.59 $ 1.39 $ 1.67 $ 2.42 $ 2.47
Losses (gains) on ship sales and ship impairments, net (i) . . . - 0.21 0.06 0.04(ii) (0.05)(iii)
Goodwill, trademark and other impairment charges (i) ...... - 0.03 0.22 - -
Restructuring expenses (i) ............................ 0.02 - - - -
Unrealized losses (gains) on fuel derivatives, net .......... 0.35 (0.05) (0.01) - -
Non-GAAP earnings per share (i) ..................... $ 1.96 $ 1.58 $ 1.94 $ 2.46(ii) $ 2.42(iii)
(i) See “Key Performance Non-GAAP Financial Indicators” for further discussion of the losses (gains) on
ship sales and ship impairments, net; goodwill, trademark and other impairment charges and
restructuring expenses for the years ended November 30, 2014, 2013, and 2012.
(ii) Represents impairment charges related to the sale of Costa Marina and Pacific Sun.
(iii) Represents the 2010 gain on the sale of P&O Cruises (UK)’s Artemis.
(b) Includes a special dividend of $0.50 per share.
(c) Net of $508 million of insurance proceeds received for the total loss of a ship.
(d) Percentage of total debt to the sum of total debt and shareholders’ equity.
70