Carnival Cruises 2015 Annual Report Download - page 59

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These decreases were partially offset by:
– $176 million – 1.7% capacity increase in ALBDs;
– $106 million – higher dry-dock expenses as a result of higher number of dry-dock days;
– $37 million – nonrecurrence of a gain from the sale of Costa Voyager in 2014;
– $28 million – slight increase in occupancy and
– $47 million – various other operating expenses, net, partially offset by favorable foreign currency
transactional impacts.
Selling and administrative expenses remained flat at $2.1 billion in both 2015 and 2014.
Depreciation and amortization expenses decreased slightly and remained at $1.6 billion in both 2015 and 2014.
Our total costs and expenses as a percentage of revenues decreased to 84% in 2015 from 89% in 2014.
North America Brands
Operating costs and expenses decreased by $517 million, or 8.2%, to $5.8 billion in 2015 from $6.3 billion in
2014.
This decrease was caused by:
– $503 million – lower fuel prices;
– $41 million – decreases in commissions, transportation and other related expenses;
– $25 million – lower fuel consumption per ALBD;
– $19 million – gain on a litigation settlement and
– $30 million – various other operating expenses, net, which included favorable foreign currency transactional
impacts.
These decreases were partially offset by:
– $58 million – higher dry-dock expenses as a result of higher number of dry-dock days and
– $43 million – 2.0 percentage point increase in occupancy.
Our total costs and expenses as a percentage of revenues decreased to 81% in 2015 from 89% in 2014.
EAA Brands
Operating costs and expenses decreased by $472 million, or 12%, to $3.4 billion in 2015 from $3.9 billion in
2014.
This decrease was caused by:
– $476 million – 2015 foreign currency translational impact;
– $273 million – lower fuel prices and
– $53 million – nonrecurrence of impairment charges incurred in 2014 related to Grand Celebration and
Grand Holiday.
These decreases were partially offset by:
– $159 million – 4.1% capacity increase in ALBDs;
– $49 million – higher dry-dock expenses as a result of higher number of dry-dock days;
– $37 million – nonrecurrence of a gain from the sale of Costa Voyager recognized in 2014;
– $26 million – increases in commissions, transportation and other related expenses and
– $59 million – various other operating expenses, net, which included unfavorable foreign currency
transactional impacts.
Our total costs and expenses as a percentage of revenues decreased to 83% in 2015 from 86% in 2014.
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