Carnival Cruises 2015 Annual Report Download - page 72

$305 million for information technology, buildings and improvements, and other assets. Furthermore, in 2014 we
sold Costa Voyager and received $42 million in cash proceeds.
During 2013, our expenditures for capital projects were $2.1 billion, of which $1.3 billion was spent on our
ongoing new shipbuilding program, including $836 million for the final delivery payments for AIDAstella and
Royal Princess. In addition to our new shipbuilding program, we had capital expenditures of $633 million for
ship improvements and replacements and $227 million for information technology and other assets. Furthermore,
in 2013 we sold three of our Seabourn ships that are leaving the fleet by May 2015, and received $70 million in
cash proceeds, which represented substantially all of the sales price.
Financing Activities
During 2015, net cash used in financing activities of $942 million was substantially due to the following:
– repaid a net $633 million of short-term borrowings in connection with our availability of, and needs for,
cash at various times throughout the period;
– repaid $1.2 billion of long-term debt, including an early repayment of $225 million under an export credit
facility;
– issued $1.3 billion of publicly-traded notes, which net proceeds are being used for general corporate
purposes;
– borrowed $697 million of long-term debt under an export credit facility and a bank loan;
– paid cash dividends of $816 million;
– purchased $533 million of shares of Carnival Corporation common stock in open market transactions of
which $276 million were purchased under our Repurchase Program and $257 million were purchased under
our Stock Swap Program and
– sold $264 million of treasury stock under our Stock Swap program.
During 2014, net cash used in financing activities of $1.0 billion was substantially due to the following:
– borrowed a net $617 million of short-term borrowings in connection with our availability of, and needs for,
cash at various times throughout the year;
– repaid $2.5 billion of long-term debt, including early repayments of $839 million of three bank loans and
$590 million of two export credit facilities;
– borrowed $1.6 billion of new long-term debt under two export credit facilities and three bank loans and
– paid cash dividends of $776 million.
During 2013, net cash used in financing activities of $780 million was substantially due to the following:
– borrowed a net $4 million of short-term borrowings in connection with our availability of, and needs for,
cash at various times throughout the year;
– repaid $2.2 billion of long-term debt;
– issued $1.7 billion of publicly-traded notes, of which $500 million was used to repay a like amount of
export credit facilities, and the remaining $1.2 billion was and will be used for general corporate purposes,
including repayments of portions of debt facilities maturing through May 2014;
– borrowed $1.0 billion of new long-term debt under two export credit facilities and one bank loan;
– paid cash dividends of $1.2 billion;
– purchased $138 million of shares of Carnival Corporation common stock in open market transactions of
which $103 million were purchased under our Repurchase Program and $35 million were purchased under
our Stock Swap Program and
– sold $35 million of treasury stock under our Stock Swap program.
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