Carnival Cruises 2015 Annual Report Download - page 78

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(a) Previously reported results have changed as a result of our revision of prior period financial statements (see
“Note 1 – General – Revision of Prior Period Financial Statements” in the consolidated financial statements
and “Key Performance Non-GAAP Financial Indicators,” as applicable, for additional discussion).
(b) Previously reported results changed as follows as a result of our revision of prior period financial statements
(see “Note 1 – General – Revision of Prior Period Financial Statements” in the consolidated financial
statements for additional discussion):
Year Ended
November 30, 2012
Year Ended
November 30, 2011
As
Previously
Reported
As
Revised
As
Previously
Reported
As
Revised
Statements of Income Data
Operating income ........................................... $1,642 $1,629 $2,255 $2,255
Net income ................................................ $1,298 $1,285 $1,912 $1,912
Earnings per share
Basic ................................................... $ 1.67 $ 1.66 $ 2.43 $ 2.43
Diluted ................................................. $ 1.67 $ 1.65 $ 2.42 $ 2.42
Adjusted net income ......................................... $1,514 $1,501 $1,939 $1,939
Adjusted earnings per share – diluted ........................... $ 1.94 $ 1.92 $ 2.46 $ 2.46
November 30, 2013 November 30, 2012 November 30, 2011
As
Previously
Reported
As
Revised
As
Previously
Reported
As
Revised
As
Previously
Reported
As
Revised
Balance Sheet and Other Data
Total assets ............................ $40,104 $40,042 $39,161 $39,126 $38,637 $38,610
Total shareholders’ equity ................. $24,556 $24,492 $23,929 $23,889 $23,832 $23,804
Total debt to capital (1) ................... 28.0% 28.1% 27.1% 27.1% 28.2% 28.2%
(1) As a result of the revision, total debt to capital as of November 30, 2014 changed from 27.2%, as
previously reported, to 27.3%.
(c) Adjusted net income and adjusted fully diluted earnings per share was computed as follows:
Years Ended November 30,
2015 2014 2013 2012 2011
Net income
U.S. GAAP net income .............................. $1,757 $1,216 $1,055 $1,285 $1,912
Restructuring expenses ............................... 25 18 - - -
(Gains) losses on ship sales and ship impairments, net (i) .... (8) 2 163 49(ii) 28(iii)
Goodwill, trademark and other impairment charges (i) ...... - - 27 173(iv) -
Unrealized losses (gains) on fuel derivatives, net .......... 332 268 (36) (6) (1)
Adjusted net income ................................ $2,106 $1,504 $1,209 $1,501 $1,939
Weighted-average shares outstanding .................... 779 778 777 779 789
Earnings per share
U.S. GAAP earnings per share ....................... $ 2.26 $ 1.56 $ 1.36 $ 1.65 $ 2.42
Restructuring expenses ............................... 0.03 0.02 - - -
(Gains) losses on ship sales and ship impairments, net (i) .... (0.01) - 0.21 0.06(ii) 0.04(iii)
Goodwill, trademark and other impairment charges (i) ...... - - 0.03 0.22(iv) -
Unrealized losses (gains) on fuel derivatives, net .......... 0.42 0.35 (0.05) (0.01) -
Adjusted earnings per share (i) ....................... $ 2.70 $ 1.93 $ 1.55 $ 1.92 $ 2.46
(See next page for footnotes.)
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