Carnival Corporation & plc
(NYSE:CUK)

Carnival Corporation & plc operates as a leisure travel company. Its ships visit approximately 700 ports under the Carnival Cruise Line, Princess Cruises, Holland America Line, P&O Cruises (Australia), Seabourn, Costa Cruises, AIDA Cruises, P&O Cruises (UK), and Cunard brand names. The company also ...

Website: http://www.carnivalplc.com

Founded: 1972

Full Time Employees: 150,000

Sector: Consumer Cyclical

Industry: Leisure

Leisure Consumer Cyclical

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At a glance:

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Quarterly

Annual

Unit: USD	2026-02-28	2025-11-30	2025-08-31	2025-05-31	2025-02-28	2024-11-30	2024-08-31	2024-05-31	2024-02-29	2023-11-30	2023-08-31	2023-05-31	2023-02-28	2022-11-30	2022-08-31	2022-05-31	2022-02-28	2021-08-31	2021-05-31	2021-02-28	2020-11-30	2020-08-31	2020-05-31	2020-02-29	2019-08-31	2019-05-31	2019-02-28	2018-11-30	2018-08-31	2018-05-31	2018-02-28	2017-11-30	2017-08-31	2017-05-31	2017-02-28	2016-08-31	2016-05-31	2016-02-29	2015-11-30	2015-08-31	2015-05-31	2015-02-28	2014-08-31	2014-05-31	2014-02-28	2013-11-30	2013-08-31	2013-05-31	2013-02-28	2012-08-31	2012-05-31	2012-02-29	2011-11-30	2011-08-31	2011-05-31	2011-02-28	2010-11-30	2010-08-31	2010-05-31	2010-02-28	2009-11-30	2009-08-31	2009-05-31	2009-02-28	2008-11-30	2008-08-31	2008-05-31	2008-02-29

passenger ticket	4,023,000,000	4,053,000,000	5,430,000,000	4,104,000,000	3,832,000,000	3,854,000,000	5,239,000,000	3,754,000,000	3,617,000,000	3,510,000,000	4,546,000,000	3,141,000,000	2,870,000,000	2,269,000,000	2,595,000,000	1,285,000,000	873,000,000	303,000,000	20,000,000	3,000,000	4,000,000		446,000,000	3,234,000,000	4,477,000,000	3,257,000,000	3,199,000,000	3,236,000,000	4,353,000,000	3,193,000,000	3,148,000,000	3,130,000,000	4,138,000,000
onboard and other	2,142,000,000	2,277,000,000	2,723,000,000	2,224,000,000	1,978,000,000	2,084,000,000	2,657,000,000	2,027,000,000	1,790,000,000	1,886,000,000	2,308,000,000	1,770,000,000	1,563,000,000	1,570,000,000	1,711,000,000	1,116,000,000	750,000,000	243,000,000	29,000,000	23,000,000	29,000,000	31,000,000	294,000,000	1,556,000,000	1,855,000,000	1,510,000,000	1,446,000,000	1,170,000,000	1,316,000,000	1,122,000,000	1,071,000,000	1,093,000,000	1,223,000,000	1,036,000,000	978,000,000	1,146,000,000	978,000,000	923,000,000	969,000,000	1,102,000,000	927,000,000	889,000,000	1,084,000,000	905,000,000	850,000,000	928,000,000	987,000,000	839,000,000	844,000,000	965,000,000	844,000,000	809,000,000	846,000,000	936,000,000	817,000,000	757,000,000	791,000,000	847,000,000	737,000,000	729,000,000	753,000,000	825,000,000	673,000,000	634,000,000	735,000,000	864,000,000	743,000,000	702,000,000
total revenues	6,165,000,000	6,330,000,000	8,153,000,000
yoy
qoq	-2.61%	-22.36%
cruise and tour operating expenses:
commissions, transportation and other	872,000,000	728,000,000	973,000,000	780,000,000	850,000,000	722,000,000	958,000,000	732,000,000	819,000,000	664,000,000	823,000,000	619,000,000	655,000,000	489,000,000	565,000,000	325,000,000	251,000,000	79,000,000	22,000,000	15,000,000	41,000,000	34,000,000	297,000,000	766,000,000	803,000,000	613,000,000	709,000,000	590,000,000	760,000,000	577,000,000	663,000,000	578,000,000	699,000,000	513,000,000	569,000,000	646,000,000	495,000,000	582,000,000	490,000,000	603,000,000	481,000,000	586,000,000	638,000,000	520,000,000	620,000,000	526,000,000	654,000,000	506,000,000	617,000,000	613,000,000	519,000,000	661,000,000	550,000,000	686,000,000	562,000,000	664,000,000	817,000,000	517,000,000	440,000,000	498,000,000	448,000,000	515,000,000	440,000,000	514,000,000	489,000,000	660,000,000	525,000,000	558,000,000
payroll and related	684,000,000	674,000,000	636,000,000	640,000,000	640,000,000	652,000,000	575,000,000	614,000,000	623,000,000	605,000,000	585,000,000	601,000,000	582,000,000	580,000,000	563,000,000	533,000,000	506,000,000	375,000,000	241,000,000	218,000,000	217,000,000	248,000,000	705,000,000	610,000,000	548,000,000	566,000,000	557,000,000	552,000,000	537,000,000	543,000,000	558,000,000	555,000,000	520,000,000	513,000,000	519,000,000	494,000,000	502,000,000	492,000,000	471,000,000	453,000,000	469,000,000	467,000,000	485,000,000	485,000,000	481,000,000	481,000,000	464,000,000	454,000,000	460,000,000	422,000,000	435,000,000	442,000,000	441,000,000	435,000,000	435,000,000	411,000,000	411,000,000	426,000,000	383,000,000	391,000,000	393,000,000	387,000,000	366,000,000	352,000,000	364,000,000	381,000,000	365,000,000	360,000,000
fuel	397,000,000	424,000,000	451,000,000	468,000,000	465,000,000	461,000,000	515,000,000	525,000,000	505,000,000	555,000,000	468,000,000	489,000,000	535,000,000	580,000,000	668,000,000	545,000,000	365,000,000	182,000,000	113,000,000	103,000,000	105,000,000	121,000,000	201,000,000	396,000,000	401,000,000	423,000,000	381,000,000	453,000,000	434,000,000	373,000,000	359,000,000	330,000,000	307,000,000	310,000,000	297,000,000	265,000,000	196,000,000	187,000,000	253,000,000	345,000,000	333,000,000	318,000,000	518,000,000	527,000,000	523,000,000	549,000,000	544,000,000	555,000,000	559,000,000	541,000,000	645,000,000	592,000,000	582,000,000	581,000,000	579,000,000	450,000,000	413,000,000	396,000,000	416,000,000	397,000,000	378,000,000	327,000,000	243,000,000	208,000,000	428,000,000	529,000,000	425,000,000	392,000,000
food	382,000,000	375,000,000	398,000,000	372,000,000	354,000,000	358,000,000	393,000,000	360,000,000	346,000,000	335,000,000	364,000,000	325,000,000	311,000,000	277,000,000	259,000,000	191,000,000	136,000,000	52,000,000	17,000,000	11,000,000	9,000,000	19,000,000	108,000,000	277,000,000	284,000,000	269,000,000	268,000,000	262,000,000	275,000,000	265,000,000	264,000,000	257,000,000	270,000,000	253,000,000	251,000,000	260,000,000	248,000,000	247,000,000	244,000,000	255,000,000	242,000,000	239,000,000	265,000,000	251,000,000	245,000,000	243,000,000	259,000,000	238,000,000	243,000,000	246,000,000	236,000,000	240,000,000	237,000,000	257,000,000	241,000,000	231,000,000	222,000,000	223,000,000	212,000,000	212,000,000	215,000,000	223,000,000	203,000,000	198,000,000	208,000,000	231,000,000	210,000,000	207,000,000
other operating	986,000,000	1,046,000,000	1,044,000,000	955,000,000	858,000,000	1,005,000,000	995,000,000	938,000,000	862,000,000	880,000,000	928,000,000	875,000,000	743,000,000	840,000,000	787,000,000	774,000,000	557,000,000	381,000,000	224,000,000	181,000,000	169,000,000	208,000,000	471,000,000	1,001,000,000
total cruise and tour operating expenses	3,939,000,000	3,910,000,000	4,385,000,000
selling and administrative expense	924,000,000	960,000,000	779,000,000
depreciation and amortization expense	696,000,000	726,000,000	717,000,000
operating income	607,000,000	735,000,000	2,271,000,000	934,000,000	543,000,000	561,000,000	2,178,000,000	560,000,000	276,000,000	384,000,000	1,624,000,000	120,000,000	-172,000,000	-1,135,000,000	-279,000,000	-1,473,000,000	-1,491,000,000	-2,057,000,000	-1,616,000,000	-1,524,000,000	-1,642,000,000	-2,333,000,000	-4,177,000,000	-713,000,000	1,890,000,000	515,000,000	386,000,000	553,000,000	1,794,000,000	559,000,000	419,000,000	548,000,000	1,393,000,000	500,000,000	368,000,000	1,562,000,000	478,000,000	434,000,000	510,000,000	1,510,000,000	289,000,000	266,000,000	1,298,000,000	155,000,000	72,000,000	103,000,000	951,000,000	152,000,000	145,000,000	1,295,000,000	253,000,000	-82,000,000	308,000,000	1,433,000,000	279,000,000	235,000,000	341,000,000	1,402,000,000	349,000,000	255,000,000	294,000,000	1,196,000,000	353,000,000	311,000,000	450,000,000	1,485,000,000	482,000,000	312,000,000
yoy	11.79%	31.02%	4.27%	66.79%	96.74%	46.09%	34.11%	366.67%	-260.47%	-133.83%	-682.08%	-108.15%	-88.46%	-44.82%	-82.74%	-3.35%	-9.20%	-11.83%	-61.31%	113.74%	-186.88%	-553.01%	-1182.12%	-228.93%	5.35%	-7.87%	-7.88%	0.91%	28.79%	11.80%	13.86%	-64.92%	191.42%	15.21%	-27.84%	3.44%	65.40%	63.16%	-60.71%	874.19%	301.39%	158.25%	36.49%	1.97%	-50.34%	-92.05%	275.89%	-285.37%	-52.92%	-9.63%	-9.32%	-134.89%	-9.68%	2.21%	-20.06%	-7.84%	15.99%	17.22%	-1.13%	-18.01%	-34.67%	-19.46%	-26.76%	-0.32%
qoq	-17.41%	-67.64%	143.15%	72.01%	-3.21%	-74.24%	288.93%	102.90%	-28.13%	-76.35%	1253.33%	-169.77%	-84.85%	306.81%	-81.06%	-1.21%	-27.52%	27.29%	6.04%	-7.19%	-29.62%	-44.15%	485.83%	-137.72%	266.99%	33.42%	-30.20%	-69.18%	220.93%	33.41%	-23.54%	-60.66%	178.60%	35.87%	-76.44%	226.78%	10.14%	-14.90%	-66.23%	422.49%	8.65%	-79.51%	737.42%	115.28%	-30.10%	-89.17%	525.66%	4.83%	-88.80%	411.86%	-408.54%	-126.62%	-78.51%	413.62%	18.72%	-31.09%	-75.68%	301.72%	36.86%	-13.27%	-75.42%	238.81%	13.50%	-30.89%	-69.70%	208.09%	54.49%
operating margin %	9.85%	11.61%	27.85%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	-Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%
interest income	12,000,000	17,000,000	15,000,000	12,000,000	7,000,000	16,000,000	19,000,000	25,000,000	33,000,000	50,000,000	59,000,000	69,000,000	56,000,000	40,000,000	24,000,000	6,000,000	3,000,000	3,000,000	4,000,000	3,000,000	3,000,000	3,000,000	6,000,000	5,000,000	8,000,000	5,000,000	4,000,000	4,000,000	5,000,000	3,000,000	3,000,000	2,000,000	3,000,000	2,000,000	2,000,000	2,000,000	2,000,000	2,000,000	2,000,000	2,000,000	2,000,000	2,000,000	2,000,000	2,000,000	2,000,000	4,000,000	2,000,000	3,000,000	2,000,000	2,000,000	3,000,000	3,000,000	3,000,000	3,000,000	3,000,000	2,000,000	2,000,000	3,000,000	3,000,000	4,000,000	4,000,000	4,000,000	2,000,000	4,000,000	5,000,000	8,000,000	12,000,000	10,000,000
interest expense, net of capitalized interest	-291,000,000	-315,000,000	-317,000,000	-341,000,000	-377,000,000	-403,000,000	-431,000,000	-450,000,000	-471,000,000	-466,000,000	-518,000,000	-542,000,000	-539,000,000	-448,000,000	-422,000,000	-370,000,000	-368,000,000	-418,000,000	-437,000,000	-398,000,000	-348,000,000	-310,000,000	-182,000,000	-55,000,000	-52,000,000	-54,000,000	-51,000,000	-47,000,000	-49,000,000	-49,000,000	-48,000,000	-48,000,000	-49,000,000	-50,000,000	-51,000,000	-61,000,000	-57,000,000	-52,000,000	-50,000,000	-53,000,000	-57,000,000	-57,000,000	-69,000,000	-72,000,000	-72,000,000	-82,000,000	-76,000,000	-78,000,000	-83,000,000	-84,000,000	-87,000,000	-88,000,000	-92,000,000	-96,000,000	-91,000,000	-86,000,000	-93,000,000	-90,000,000	-99,000,000	-96,000,000	-99,000,000	-95,000,000	-90,000,000	-96,000,000	-106,000,000	-108,000,000	-102,000,000	-98,000,000
debt extinguishment and modification costs		-43,000,000	-111,000,000	-4,000,000	-252,000,000	-1,000,000	-13,000,000	-33,000,000	-33,000,000	1,000,000	-81,000,000
other income	-47,000,000	10,000,000	-2,000,000	-20,000,000	8,000,000	118,000,000	-10,000,000	-7,000,000	-18,000,000	-8,000,000	-19,000,000	-17,000,000	-30,000,000	-57,000,000	-81,000,000	6,000,000	-32,000,000	-11,000,000	-11,000,000	-61,000,000	-251,000,000	-221,000,000	-32,000,000	-7,000,000	-19,000,000	-7,000,000	-2,000,000	1,000,000	-9,000,000	10,000,000	1,000,000	4,000,000	14,000,000	-15,000,000	8,000,000	-2,000,000	13,000,000	-5,000,000	7,000,000	-12,000,000	5,000,000	10,000,000	1,000,000	11,000,000					3,000,000	-1,000,000	-10,000,000	5,000,000	-11,000,000	2,000,000	13,000,000	6,000,000	5,000,000	-2,000,000	-2,000,000	-3,000,000	2,000,000	-8,000,000	5,000,000	19,000,000	21,000,000		4,000,000	2,000,000
income before income taxes	280,000,000	404,000,000	1,857,000,000	582,000,000	-71,000,000	289,000,000	1,743,000,000	96,000,000	-214,000,000	-39,000,000	1,065,000,000	-402,000,000	-686,000,000	-1,602,000,000	-759,000,000	-1,831,000,000	-1,888,000,000	-2,859,000,000	-2,060,000,000	-1,979,000,000	-2,237,000,000	-2,861,000,000	-4,385,000,000	-770,000,000	1,827,000,000	459,000,000	338,000,000	508,000,000	1,744,000,000	564,000,000	390,000,000	560,000,000	1,368,000,000	384,000,000	354,000,000	1,465,000,000	607,000,000	143,000,000	271,000,000	1,250,000,000	226,000,000	52,000,000	1,247,000,000	107,000,000	-14,000,000	57,000,000	935,000,000	41,000,000	39,000,000	1,336,000,000	14,000,000	-141,000,000	209,000,000	1,342,000,000	204,000,000	157,000,000	255,000,000	1,313,000,000	251,000,000	160,000,000	201,000,000	1,097,000,000	270,000,000	238,000,000	370,000,000	1,385,000,000	396,000,000	226,000,000
income tax expense	-17,000,000	-7,500,000	-6,000,000	-17,000,000																				-11,000,000	-47,000,000	-8,000,000	-2,000,000	-14,000,000	-37,000,000	-3,000,000		-14,000,000	-39,000,000	-5,000,000	-2,000,000	-41,000,000	-2,000,000	-1,000,000	-10,250,000	-34,000,000	-4,000,000	-3,000,000		-1,000,000	-1,000,000	-750,000	-1,000,000			-6,000,000											-8,000,000	-24,000,000			1,000,000	-52,000,000
net income	263,000,000	422,000,000	1,852,000,000	565,000,000	-78,000,000	303,000,000	1,735,000,000	92,000,000	-214,000,000	-48,000,000	1,074,000,000	-407,000,000	-693,000,000	-1,598,000,000	-770,000,000	-1,834,000,000	-1,891,000,000	-2,836,000,000	-2,072,000,000	-1,973,000,000	-2,222,000,000	-2,858,000,000	-4,374,000,000	-781,000,000	1,780,000,000	451,000,000	336,000,000	493,000,000	1,707,000,000	561,000,000	391,000,000	546,000,000	1,329,000,000	379,000,000	352,000,000	1,424,000,000	605,000,000	142,000,000	270,000,000	1,216,000,000	222,000,000	49,000,000	1,247,000,000	106,000,000	-15,000,000	66,000,000	934,000,000	41,000,000	37,000,000	1,330,000,000	14,000,000	-139,000,000	217,000,000	1,337,000,000	206,000,000	152,000,000	248,000,000	1,303,000,000	252,000,000	175,000,000	193,000,000	1,073,000,000	264,000,000	260,000,000	371,000,000	1,333,000,000	390,000,000	236,000,000
yoy	-437.18%	39.27%	6.74%	514.13%	-63.55%	-731.25%	61.55%	-122.60%	-69.12%	-97.00%	-239.48%	-77.81%	-63.35%	-43.65%	-62.84%	-7.05%	-14.90%	-0.77%	-52.63%	152.62%	-224.83%	-733.70%	-1401.79%	-258.42%	4.28%	-19.61%	-14.07%	-9.71%	28.44%	48.02%	11.08%	-61.66%	119.67%	166.90%	30.37%	17.11%	172.52%	189.80%	-78.35%	1047.17%	-1580.00%	-25.76%	33.51%	158.54%	-140.54%	-95.04%	6571.43%	-129.50%	-82.95%	-0.52%	-93.20%	-191.45%	-12.50%	2.61%	-18.25%	-13.14%	28.50%	21.44%	-4.55%	-32.69%	-47.98%	-19.50%	-32.31%	10.17%
qoq	-37.68%	-77.21%	227.79%	-824.36%	-125.74%	-82.54%	1785.87%	-142.99%	345.83%	-104.47%	-363.88%	-41.27%	-56.63%	107.53%	-58.02%	-3.01%	-33.32%	36.87%	5.02%	-11.21%	-22.25%	-34.66%	460.05%	-143.88%	294.68%	34.23%	-31.85%	-71.12%	204.28%	43.48%	-28.39%	-58.92%	250.66%	7.67%	-75.28%	135.37%	326.06%	-47.41%	-77.80%	447.75%	353.06%	-96.07%	1076.42%	-806.67%	-122.73%	-92.93%	2178.05%	10.81%	-97.22%	9400.00%	-110.07%	-164.06%	-83.77%	549.03%	35.53%	-38.71%	-80.97%	417.06%	44.00%	-9.33%	-82.01%	306.44%	1.54%	-29.92%	-72.17%	241.79%	65.25%
net income margin %	4.27%	6.67%	22.72%	Infinity%	-Infinity%	Infinity%	Infinity%	Infinity%	-Infinity%	-Infinity%	Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	-Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	-Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%
less: net income attributable to noncontrolling interest	4,000,000
net income attributable to carnival corporation & plc	258,000,000
earnings per share
basic	0.19	0.32	1.41	0.43	-0.06	0.23	1.37	0.07	-0.17	-0.04	0.85	-0.32	-0.55	-1.27	-0.65	-1.61	-1.66	-2.5	-1.83	-1.8	-2.17	-3.69	-6.07	-1.14	2.58	0.65	0.48	0.72	2.42	0.79	0.54	0.76	1.84	0.52	0.48	1.93	0.81	0.18	0.35	1.56	0.29	0.06	1.61	0.14	-0.02	0.08	1.2	0.05	0.05	1.71	0.02	-0.18	0.29	1.69	0.26	0.19	0.31	1.65	0.32	0.22	0.24	1.36	0.34	0.33	0.47	1.7	0.5	0.3
diluted	0.19	0.31	1.33	0.42	-0.06	0.23	1.26	0.07	-0.17	-0.04	0.79	-0.32	-0.55	-1.27	-0.65	-1.61	-1.66	-2.5	-1.83	-1.8	-2.17	-3.69	-6.07	-1.14	2.58	0.65	0.48	0.72	2.41	0.78	0.54	0.75	1.83	0.52	0.48	1.93	0.8	0.18	0.35	1.56	0.29	0.06	1.6	0.14	-0.02	0.09	1.2	0.05	0.05	1.71	0.02	-0.18	0.28	1.69	0.26	0.19	0.31	1.62	0.32	0.22	0.24	1.33	0.33	0.33	0.47	1.65	0.49	0.3
revenues
revenues - sum				6,328,000,000	5,810,000,000	5,938,000,000	7,896,000,000	5,781,000,000		5,396,000,000	6,854,000,000	4,911,000,000				2,401,000,000	1,623,000,000	546,000,000		26,000,000	1,390,250,000	31,000,000
operating expenses
cruise and tour operating expenses				3,886,000,000	3,766,000,000	3,833,000,000	4,303,000,000	3,798,000,000	3,705,000,000	3,629,000,000	3,921,000,000	3,457,000,000	3,311,000,000
selling and administrative				816,000,000	848,000,000	886,000,000	763,000,000	789,000,000	813,000,000	788,000,000	713,000,000	736,000,000	712,000,000	741,000,000	625,000,000	619,000,000	530,000,000	425,000,000	417,000,000	462,000,000	443,000,000	265,000,000	492,000,000	678,000,000	563,000,000	621,000,000	629,000,000	656,000,000	573,000,000	605,000,000	616,000,000	616,000,000	547,000,000	553,000,000	549,000,000	529,000,000	532,000,000	551,000,000	563,000,000	484,000,000	491,000,000	529,000,000	481,000,000	504,000,000	521,000,000	532,000,000	439,000,000	449,000,000	460,000,000	409,000,000	431,000,000	421,000,000	435,000,000	421,000,000	440,000,000	422,000,000	433,000,000	381,000,000	404,000,000	396,000,000	424,000,000	381,000,000	393,000,000	392,000,000	407,000,000	372,000,000	425,000,000	425,000,000
depreciation and amortization				692,000,000	654,000,000	659,000,000	651,000,000	634,000,000	613,000,000	596,000,000	596,000,000	597,000,000	582,000,000	568,000,000	581,000,000	572,000,000	554,000,000	562,000,000	567,000,000	552,000,000	543,000,000	551,000,000	577,000,000	570,000,000	548,000,000	542,000,000	516,000,000	507,000,000	511,000,000	512,000,000	488,000,000	478,000,000	473,000,000	456,000,000	439,000,000	443,000,000	437,000,000	423,000,000	420,000,000	399,000,000	406,000,000	401,000,000	414,000,000	409,000,000	404,000,000	402,000,000	406,000,000	391,000,000	389,000,000	383,000,000	376,000,000	376,000,000	385,000,000	390,000,000	380,000,000	367,000,000	367,000,000	355,000,000	349,000,000	345,000,000	345,000,000	336,000,000	317,000,000	311,000,000	313,000,000	323,000,000	312,000,000	301,000,000
nonoperating income
nonoperating income - sum				-353,000,000	-614,000,000	-347,000,000	-435,000,000		-489,000,000	-398,750,000	-559,000,000			-466,000,000	-479,000,000	-358,000,000	-397,000,000	-802,000,000	-444,000,000		-595,000,000	-528,000,000		-57,000,000	-63,000,000	-56,000,000	-49,000,000			5,000,000	-28,000,000	12,000,000	-25,000,000	-116,000,000	-14,000,000	-97,000,000	129,000,000	-291,000,000	-239,000,000	-260,000,000	-63,000,000	-214,000,000	-51,000,000	-48,000,000	-86,000,000	-46,000,000	-16,000,000	-111,000,000	-106,000,000	41,000,000	-239,000,000	-59,000,000	-99,000,000	-91,000,000	-75,000,000
income tax benefit					-7,000,000	14,000,000	-8,000,000	-5,000,000		-10,000,000	9,000,000	-5,000,000	-7,000,000	3,000,000	-11,000,000	-3,000,000	-3,000,000	23,000,000	-12,000,000	6,000,000	15,000,000	2,000,000	11,000,000																										-2,000,000			2,000,000	-2,000,000	-5,000,000	2,000,000	-5,000,000	1,500,000	-10,000,000	1,000,000	15,000,000			-6,000,000	22,000,000			-6,000,000	10,000,000
ship and other impairments														432,000,000			8,000,000	475,000,000	49,000,000		138,000,000	910,000,000	589,000,000
gain on debt extinguishment												-31,000,000
operating costs and expenses
operating costs and expenses - sum														3,665,000,000	3,379,000,000			1,616,000,000	681,000,000	535,000,000	689,000,000	1,549,000,000
gains on debt extinguishment																		-376,000,000
goodwill impairments
goodwill impairment																					524,000,000		1,364,000,000	731,000,000
cruise
tour and other																									200,000,000	71,000,000	29,000,000	50,000,000	167,000,000	42,000,000	13,000,000	36,000,000	154,000,000	37,000,000	9,000,000	148,000,000	31,000,000	10,000,000	32,000,000	150,000,000	35,000,000	10,000,000	144,000,000	30,000,000	8,000,000	33,000,000	141,000,000	27,000,000	9,000,000	158,000,000	19,000,000	9,000,000	29,000,000	215,000,000	25,000,000	10,000,000	40,000,000	202,000,000	31,000,000
other ship operating																									719,000,000	742,000,000	731,000,000	692,000,000	655,000,000	749,000,000	711,000,000	717,000,000	947,000,000	685,000,000	661,000,000	643,000,000	667,000,000	604,000,000	603,000,000	582,000,000	734,000,000	598,000,000	599,000,000	635,000,000	590,000,000	638,000,000	769,000,000	603,000,000	579,000,000	534,000,000	494,000,000	619,000,000	607,000,000	575,000,000	556,000,000	510,000,000	587,000,000	467,000,000	504,000,000	474,000,000	553,000,000	498,000,000	488,000,000	458,000,000	485,000,000	505,000,000	469,000,000	454,000,000
gains on fuel derivatives																												-2,000,000	4,000,000	41,000,000	16,000,000	54,000,000	7,000,000	-53,000,000	27,000,000		171,000,000		-198,000,000	-197,000,000	-13,000,000		15,000,000	11,000,000								21,000,000
cruise - sum																										4,838,000,000		4,456,000,000	5,836,000,000	4,357,000,000	4,232,000,000	4,259,000,000	5,515,000,000	3,945,000,000	3,791,000,000	5,097,000,000	3,705,000,000	3,651,000,000	3,711,000,000	4,883,000,000	3,590,000,000	3,531,000,000	4,947,000,000	3,633,000,000	3,585,000,000	3,658,000,000	4,726,000,000	3,479,000,000	3,593,000,000	4,684,000,000	3,538,000,000	3,582,000,000	3,697,000,000	5,058,000,000	3,620,000,000
goodwill and trademark impairment																																	89,000,000
dividends declared per share																												0.5	0.5	0.5	0.45	0.45	0.4	0.4	0.35	0.35	0.35	0.3	0.3	0.3	0.25	0.25	0.25	0.25	0.25	0.25	0.25	0.25	0.25	0.25	0.25	0.25	0.25	0.25	0.25	0.25	0.1	0.1	0.1	0.1
passenger tickets																																		2,872,000,000	2,804,000,000	3,803,000,000	2,696,000,000	2,718,000,000	2,710,000,000	3,631,000,000	2,628,000,000	2,632,000,000	3,719,000,000	2,698,000,000	2,727,000,000	2,697,000,000	3,598,000,000	2,613,000,000	2,740,000,000	3,561,000,000	2,675,000,000	2,764,000,000	2,822,000,000	3,907,000,000	2,778,000,000	2,652,000,000	2,922,000,000	3,377,000,000	2,427,000,000	2,358,000,000	2,419,000,000	3,105,000,000	2,242,000,000	2,219,000,000	2,526,000,000	3,658,000,000	2,588,000,000	2,438,000,000
losses on fuel derivatives																																				-36,000,000		-236,000,000				-169,000,000			-16,000,000						-145,000,000
ibero trademark impairment charge
ibero goodwill and trademark impairment charges																																															13,000,000					173,000,000
unrealized gains on fuel derivatives																																														1,250,000	64,000,000		-28,000,000	136,000,000
realized losses on fuel derivatives																																																		-12,000,000
other expense																																														-2,250,000	-6,000,000	-5,000,000
unrealized losses on fuel derivatives																																																-31,000,000
costs and expenses
operating
total																																																					2,569,000,000	2,814,000,000	2,521,000,000	2,395,000,000	2,612,000,000	2,288,000,000	2,093,000,000	2,099,000,000	2,143,000,000	2,226,000,000	1,885,000,000	1,850,000,000	2,132,000,000	2,634,000,000	2,159,000,000	2,114,000,000
other																																																												8,000,000	34,000,000	209,000,000	33,000,000	11,000,000	41,000,000	292,000,000	47,000,000	12,000,000
dividends per share																																																																	0.4	0.4	0.4	0.4

Balance Sheets:

Quarterly

Annual

Unit: USD	2026-02-28	2025-08-31	2025-05-31	2025-02-28	2024-11-30	2024-08-31	2024-05-31	2024-02-29	2023-11-30	2023-08-31	2023-05-31	2023-02-28	2022-11-30	2022-08-31	2022-05-31	2022-02-28	2021-08-31	2021-05-31	2021-02-28	2020-11-30	2020-08-31	2020-05-31	2020-02-29	2019-08-31	2019-05-31	2019-02-28	2018-11-30	2018-08-31	2018-05-31	2018-02-28	2017-11-30	2017-08-31	2017-05-31	2017-02-28	2016-08-31	2016-05-31	2016-02-29	2015-11-30	2015-08-31	2015-05-31	2015-02-28	2014-08-31	2014-05-31	2014-02-28	2013-11-30	2013-08-31	2013-05-31	2013-02-28	2012-08-31	2012-05-31	2012-02-29	2011-11-30	2011-08-31	2011-05-31	2011-02-28	2010-11-30	2010-08-31	2010-05-31	2010-02-28	2009-11-30	2009-08-31	2009-05-31	2009-02-28	2008-11-30	2008-08-31	2008-02-29

assets
current assets
cash and cash equivalents	1,424,000,000	1,763,000,000	2,146,000,000	833,000,000	1,210,000,000	1,522,000,000	1,646,000,000	2,242,000,000	2,415,000,000	2,842,000,000	4,468,000,000	5,455,000,000	4,029,000,000	7,071,000,000	7,054,000,000	6,414,000,000	7,151,000,000	7,067,000,000	9,674,000,000	9,513,000,000	8,176,000,000	6,881,000,000	1,354,000,000	1,153,000,000	1,202,000,000	649,000,000	982,000,000	526,000,000	1,053,000,000	453,000,000	395,000,000	489,000,000	597,000,000	437,000,000	462,000,000	519,000,000	778,000,000	1,395,000,000	539,000,000	298,000,000	280,000,000	436,000,000	343,000,000	421,000,000	462,000,000	981,000,000	711,000,000	476,000,000	568,000,000	900,000,000	471,000,000	450,000,000	430,000,000	557,000,000	465,000,000	429,000,000	527,000,000	594,000,000	753,000,000	538,000,000	976,000,000	485,000,000	607,000,000	650,000,000	792,000,000	966,000,000
trade and other receivables	663,000,000	651,000,000	569,000,000	543,000,000	590,000,000	632,000,000	494,000,000	644,000,000	556,000,000	485,000,000	449,000,000	514,000,000	395,000,000	360,000,000	359,000,000	267,000,000	281,000,000	218,000,000	250,000,000	273,000,000	376,000,000	604,000,000	405,000,000	441,000,000	405,000,000	406,000,000	358,000,000	366,000,000	342,000,000	345,000,000	312,000,000	324,000,000	319,000,000	307,000,000	321,000,000	334,000,000	311,000,000	303,000,000	328,000,000	380,000,000	329,000,000	355,000,000	288,000,000	258,000,000	405,000,000	444,000,000	408,000,000	400,000,000	306,000,000	286,000,000	286,000,000	263,000,000	353,000,000	360,000,000	308,000,000	248,000,000	388,000,000	455,000,000	392,000,000	362,000,000	476,000,000	424,000,000	402,000,000	418,000,000	642,000,000	434,000,000
inventories	510,000,000	475,000,000	476,000,000	518,000,000	507,000,000	492,000,000	509,000,000	531,000,000	528,000,000	483,000,000	438,000,000	448,000,000	428,000,000	420,000,000	425,000,000	392,000,000	322,000,000	308,000,000	312,000,000	335,000,000	349,000,000	362,000,000	440,000,000	482,000,000	501,000,000	444,000,000	450,000,000	405,000,000	402,000,000	394,000,000	387,000,000	357,000,000	351,000,000	361,000,000	314,000,000	315,000,000	333,000,000	330,000,000	305,000,000	327,000,000	332,000,000	358,000,000	383,000,000	381,000,000	374,000,000	388,000,000	381,000,000	383,000,000	364,000,000	377,000,000	381,000,000	374,000,000	366,000,000	365,000,000	343,000,000	320,000,000	291,000,000	297,000,000	321,000,000	320,000,000	309,000,000	308,000,000	305,000,000	315,000,000	365,000,000	331,000,000
prepaid expenses and other	1,120,000,000	979,000,000	1,158,000,000	1,083,000,000	1,070,000,000	980,000,000	1,118,000,000	1,067,000,000	1,757,000,000	855,000,000	833,000,000	710,000,000	652,000,000	581,000,000	566,000,000	470,000,000	508,000,000	400,000,000	382,000,000	443,000,000	367,000,000	374,000,000	687,000,000	635,000,000	727,000,000	603,000,000	436,000,000	458,000,000	481,000,000	475,000,000	502,000,000	491,000,000	507,000,000	492,000,000	355,000,000	324,000,000	326,000,000	314,000,000	321,000,000	298,000,000	322,000,000	330,000,000	312,000,000	316,000,000	315,000,000	371,000,000	187,000,000	196,000,000	221,000,000	203,000,000	184,000,000	225,000,000	248,000,000	217,000,000	249,000,000	247,000,000	239,000,000	240,000,000	279,000,000	298,000,000	337,000,000	317,000,000	245,000,000	267,000,000	245,000,000	280,000,000
total current assets	3,716,000,000	3,868,000,000	4,349,000,000	2,977,000,000	3,378,000,000	3,626,000,000	3,768,000,000	4,484,000,000	5,266,000,000	4,683,000,000	6,206,000,000	7,144,000,000	7,492,000,000	8,432,000,000	8,554,000,000	8,057,000,000	8,909,000,000	10,198,000,000	12,459,000,000	10,563,000,000	9,268,000,000	8,222,000,000	2,885,000,000	2,712,000,000	2,835,000,000	2,101,000,000	2,225,000,000	1,755,000,000	2,278,000,000	1,667,000,000	1,596,000,000	1,661,000,000	1,774,000,000	1,597,000,000	1,554,000,000	1,600,000,000	1,860,000,000	2,451,000,000	1,617,000,000	1,479,000,000	1,426,000,000	1,602,000,000	1,625,000,000	1,645,000,000	1,937,000,000	2,634,000,000	2,324,000,000	1,792,000,000	1,941,000,000	2,169,000,000	2,173,000,000	1,312,000,000	1,397,000,000	1,499,000,000	1,365,000,000	1,244,000,000	1,445,000,000	1,586,000,000	1,745,000,000	1,518,000,000	2,098,000,000	1,534,000,000	1,559,000,000	1,650,000,000	2,053,000,000	2,023,000,000
property and equipment	43,700,000,000	42,889,000,000	42,751,000,000	41,654,000,000	41,795,000,000	42,380,000,000	42,105,000,000	41,515,000,000	40,116,000,000	39,952,000,000	39,584,000,000	39,359,000,000	38,687,000,000	38,137,000,000	39,262,000,000	40,183,000,000	38,917,000,000	39,499,000,000	39,583,000,000	38,073,000,000	36,926,000,000	37,139,000,000	38,023,000,000	36,466,000,000	36,814,000,000	37,005,000,000	35,336,000,000	35,178,000,000	35,227,000,000	35,027,000,000	34,430,000,000	34,172,000,000	33,823,000,000	32,328,000,000	32,864,000,000	33,244,000,000	31,677,000,000	31,888,000,000	32,232,000,000	32,179,000,000	32,294,000,000	33,073,000,000	33,515,000,000	32,991,000,000	32,905,000,000	32,498,000,000	32,481,000,000	31,726,000,000	31,972,000,000	32,133,000,000	31,475,000,000	32,054,000,000	33,243,000,000	32,822,000,000	31,225,000,000	30,967,000,000	30,162,000,000	29,317,000,000	29,702,000,000	29,870,000,000	28,882,000,000	28,663,000,000	26,225,000,000	26,457,000,000	27,735,000,000	26,542,000,000
operating lease right-of-use assets	1,295,000,000	1,352,000,000	1,365,000,000	1,341,000,000	1,368,000,000	1,383,000,000	1,282,000,000	1,238,000,000	1,265,000,000	1,277,000,000	1,310,000,000	1,246,000,000	1,274,000,000	1,163,000,000	1,205,000,000	1,278,000,000	1,366,000,000	1,415,000,000	1,354,000,000	1,370,000,000	1,379,000,000	1,413,000,000	1,469,000,000
goodwill	579,000,000	579,000,000	579,000,000	579,000,000	579,000,000	579,000,000	579,000,000	579,000,000	579,000,000	579,000,000	579,000,000	579,000,000	579,000,000	579,000,000	579,000,000	579,000,000	810,000,000	818,000,000	814,000,000	807,000,000	807,000,000	790,000,000	2,176,000,000	2,886,000,000	2,907,000,000	2,943,000,000	2,925,000,000	2,949,000,000	2,950,000,000	3,014,000,000	2,967,000,000	2,957,000,000	2,953,000,000	2,911,000,000	2,964,000,000	3,019,000,000	2,980,000,000	3,010,000,000	3,052,000,000	3,041,000,000	3,055,000,000	3,199,000,000	3,226,000,000	3,226,000,000	3,210,000,000	3,160,000,000	3,134,000,000	3,143,000,000	3,146,000,000	3,135,000,000	3,188,000,000	3,322,000,000	3,430,000,000	3,424,000,000	3,373,000,000	3,320,000,000	3,287,000,000	3,214,000,000	3,326,000,000	3,451,000,000	3,402,000,000	3,388,000,000	3,225,000,000	3,266,000,000	3,500,000,000	3,593,000,000
other intangibles	1,181,000,000	1,181,000,000	1,178,000,000	1,162,000,000	1,163,000,000	1,173,000,000	1,167,000,000	1,168,000,000	1,169,000,000	1,168,000,000	1,163,000,000	1,158,000,000	1,156,000,000	1,151,000,000	1,167,000,000	1,181,000,000	1,190,000,000	1,198,000,000	1,195,000,000	1,186,000,000	1,186,000,000	1,168,000,000	1,173,000,000	1,166,000,000	1,172,000,000	1,181,000,000	1,176,000,000	1,182,000,000	1,183,000,000	1,198,000,000	1,200,000,000	1,247,000,000	1,286,000,000	1,279,000,000	1,290,000,000	1,305,000,000	1,294,000,000	1,238,000,000	1,247,000,000	1,247,000,000	1,252,000,000	1,292,000,000	1,298,000,000	1,296,000,000	1,292,000,000	1,278,000,000	1,298,000,000	1,303,000,000	1,307,000,000	1,302,000,000	1,319,000,000	1,330,000,000	1,396,000,000	1,396,000,000	1,335,000,000	1,320,000,000
other assets	1,095,000,000	962,000,000	943,000,000	822,000,000	775,000,000	665,000,000	702,000,000	777,000,000	725,000,000	2,098,000,000	3,030,000,000	2,501,000,000	2,515,000,000	2,455,000,000	2,221,000,000	2,002,000,000	2,323,000,000	1,936,000,000	1,821,000,000	1,594,000,000	1,252,000,000	1,086,000,000	1,216,000,000	771,000,000	785,000,000	700,000,000	738,000,000	689,000,000	546,000,000	535,000,000	585,000,000	606,000,000	615,000,000	588,000,000	660,000,000	683,000,000	635,000,000	650,000,000	649,000,000	665,000,000	687,000,000	831,000,000	862,000,000	747,000,000	760,000,000	823,000,000	742,000,000	711,000,000	716,000,000	723,000,000	808,000,000	619,000,000	560,000,000	622,000,000	667,000,000	639,000,000	643,000,000	623,000,000	643,000,000	650,000,000	645,000,000	632,000,000	546,000,000	733,000,000	631,000,000	598,000,000
liabilities and shareholders’ equity
current liabilities
current portion of long-term debt	1,502,000,000	1,417,000,000	1,392,000,000	1,531,000,000	1,538,000,000	2,214,000,000	2,181,000,000	2,195,000,000	2,089,000,000	1,780,000,000	1,789,000,000	2,264,000,000	2,393,000,000	2,877,000,000	3,196,000,000	2,272,000,000	1,303,000,000	1,708,000,000	1,726,000,000	1,742,000,000	2,621,000,000	2,373,000,000	2,196,000,000	1,607,000,000	1,614,000,000	1,684,000,000	1,578,000,000	688,000,000	848,000,000	1,006,000,000	1,717,000,000	1,265,000,000	1,108,000,000	1,127,000,000	739,000,000	836,000,000	813,000,000	1,344,000,000	1,218,000,000	1,316,000,000	1,321,000,000	1,754,000,000	1,048,000,000	1,212,000,000	1,408,000,000	2,030,000,000	2,000,000,000	1,643,000,000	754,000,000	1,067,000,000	1,025,000,000	1,019,000,000	1,196,000,000	890,000,000	811,000,000	613,000,000	1,153,000,000	676,000,000	785,000,000	815,000,000	1,264,000,000	1,525,000,000	1,269,000,000	1,081,000,000	888,000,000	1,333,000,000
current portion of operating lease liabilities	171,000,000	178,000,000	177,000,000	164,000,000	163,000,000	159,000,000	144,000,000	138,000,000	149,000,000	153,000,000	161,000,000	156,000,000	146,000,000	139,000,000	140,000,000	139,000,000	142,000,000	142,000,000	142,000,000	151,000,000	150,000,000	153,000,000	168,000,000
accounts payable	1,242,000,000	1,173,000,000	1,198,000,000	1,091,000,000	1,133,000,000	1,062,000,000	1,063,000,000	1,103,000,000	1,168,000,000	1,103,000,000	1,042,000,000	1,022,000,000	1,050,000,000	920,000,000	912,000,000	772,000,000	672,000,000	499,000,000	505,000,000	624,000,000	691,000,000	1,809,000,000	904,000,000	695,000,000	792,000,000	798,000,000	730,000,000	666,000,000	745,000,000	795,000,000	762,000,000	639,000,000	690,000,000	669,000,000	704,000,000	667,000,000	619,000,000	627,000,000	578,000,000	637,000,000	594,000,000	610,000,000	627,000,000	554,000,000	639,000,000	601,000,000	627,000,000	570,000,000	561,000,000	532,000,000	517,000,000	576,000,000	548,000,000	552,000,000	516,000,000	503,000,000	541,000,000	548,000,000	528,000,000	568,000,000	612,000,000	543,000,000	496,000,000	512,000,000	505,000,000	477,000,000
accrued liabilities and other	2,034,000,000	1,977,000,000	2,072,000,000	1,939,000,000	2,358,000,000	2,393,000,000	2,114,000,000	2,318,000,000	2,003,000,000	2,017,000,000	1,951,000,000	1,951,000,000	1,942,000,000	1,873,000,000	1,690,000,000	1,627,000,000	1,568,000,000	1,314,000,000	1,336,000,000	1,144,000,000	1,199,000,000	1,343,000,000	1,754,000,000	1,718,000,000	1,675,000,000	1,637,000,000	1,654,000,000	1,616,000,000	1,571,000,000	1,653,000,000	1,877,000,000	1,845,000,000	1,807,000,000	1,766,000,000	1,738,000,000	1,653,000,000	1,632,000,000	1,683,000,000	1,349,000,000	1,223,000,000	1,198,000,000	1,191,000,000	1,136,000,000	1,084,000,000	932,000,000	929,000,000	857,000,000	798,000,000	970,000,000	1,009,000,000	1,020,000,000	1,123,000,000	1,084,000,000	1,137,000,000	1,121,000,000	1,094,000,000	991,000,000	928,000,000	912,000,000	874,000,000	886,000,000	810,000,000	739,000,000	1,142,000,000	1,224,000,000	1,203,000,000
customer deposits	7,472,000,000	6,691,000,000	8,082,000,000	6,853,000,000	6,425,000,000	6,436,000,000	7,883,000,000	6,642,000,000	6,072,000,000	5,955,000,000	6,892,000,000	5,495,000,000	4,874,000,000	4,470,000,000	4,767,000,000	3,367,000,000	2,707,000,000	1,992,000,000	1,826,000,000	1,940,000,000	2,150,000,000	2,618,000,000	4,690,000,000	4,674,000,000	5,815,000,000	4,755,000,000	4,395,000,000	4,418,000,000	5,308,000,000	4,288,000,000	3,958,000,000	4,038,000,000	4,778,000,000	3,734,000,000	3,585,000,000	4,275,000,000	3,335,000,000	3,272,000,000	3,314,000,000	3,907,000,000	3,147,000,000	3,130,000,000	3,698,000,000	3,080,000,000	3,031,000,000	2,980,000,000	3,626,000,000	3,015,000,000	3,078,000,000	3,634,000,000	3,046,000,000	3,106,000,000	3,141,000,000	3,668,000,000	2,882,000,000	2,805,000,000	2,776,000,000	3,208,000,000	2,515,000,000	2,575,000,000	2,536,000,000	2,852,000,000	2,280,000,000	2,519,000,000	2,917,000,000	2,794,000,000
total current liabilities	12,420,000,000	11,436,000,000	12,920,000,000	11,578,000,000	11,617,000,000	12,265,000,000	13,385,000,000	12,396,000,000	11,481,000,000	11,008,000,000	11,835,000,000	11,088,000,000	10,605,000,000	12,954,000,000	13,380,000,000	10,920,000,000	9,491,000,000	8,754,000,000	8,619,000,000	8,686,000,000	10,184,000,000	11,858,000,000	10,716,000,000	8,932,000,000	10,377,000,000	9,642,000,000	9,204,000,000	8,020,000,000	9,308,000,000	8,851,000,000	8,800,000,000	7,969,000,000	9,058,000,000	7,465,000,000	7,100,000,000	7,841,000,000	6,664,000,000	6,956,000,000	6,749,000,000	7,683,000,000	7,412,000,000	7,056,000,000	7,401,000,000	6,688,000,000	6,720,000,000	7,488,000,000	8,055,000,000	6,782,000,000	5,936,000,000	7,262,000,000	6,544,000,000	6,105,000,000	6,881,000,000	6,521,000,000	6,009,000,000	5,755,000,000	5,876,000,000	6,763,000,000	5,667,000,000	4,967,000,000	5,775,000,000	6,167,000,000	5,340,000,000	5,781,000,000	5,829,000,000	7,393,000,000
long-term debt	23,788,000,000	25,064,000,000	25,862,000,000	25,487,000,000	25,936,000,000	26,642,000,000	27,154,000,000	28,544,000,000	28,483,000,000	29,516,000,000	31,921,000,000	32,672,000,000	31,953,000,000	28,518,000,000	29,263,000,000	29,887,000,000	26,831,000,000	25,968,000,000	26,522,000,000	22,130,000,000	18,916,000,000	14,870,000,000	9,738,000,000	8,893,000,000	9,080,000,000	9,134,000,000	7,897,000,000	8,297,000,000	8,172,000,000	7,445,000,000	6,993,000,000	7,723,000,000	7,635,000,000	7,796,000,000	8,320,000,000	8,183,000,000	7,990,000,000	7,413,000,000	6,604,000,000	6,648,000,000	6,944,000,000	6,967,000,000	7,880,000,000	7,992,000,000	8,092,000,000	7,792,000,000	7,848,000,000	7,622,000,000	8,289,000,000	8,392,000,000	7,964,000,000	8,053,000,000	7,714,000,000	8,678,000,000	7,815,000,000	8,011,000,000	7,644,000,000	7,681,000,000	8,933,000,000	9,097,000,000	8,373,000,000	8,317,000,000	7,690,000,000	7,735,000,000	8,345,000,000	6,271,000,000
long-term operating lease liabilities	1,146,000,000	1,201,000,000	1,217,000,000	1,209,000,000	1,239,000,000	1,258,000,000	1,174,000,000	1,138,000,000	1,170,000,000	1,180,000,000	1,208,000,000	1,148,000,000	1,189,000,000	1,076,000,000	1,120,000,000	1,190,000,000	1,269,000,000	1,317,000,000	1,256,000,000	1,273,000,000	1,281,000,000	1,292,000,000	1,312,000,000
other long-term liabilities	1,164,000,000	1,202,000,000	1,159,000,000	1,078,000,000	1,012,000,000	1,042,000,000	1,075,000,000	1,001,000,000	1,105,000,000	1,091,000,000	1,044,000,000	908,000,000	891,000,000	989,000,000	965,000,000	973,000,000	1,061,000,000	1,149,000,000	1,017,000,000	949,000,000	934,000,000	956,000,000	887,000,000	882,000,000	948,000,000	912,000,000	856,000,000	783,000,000	771,000,000	764,000,000	769,000,000	779,000,000	794,000,000	782,000,000	1,012,000,000	1,036,000,000	1,167,000,000	1,097,000,000	1,091,000,000	1,028,000,000	1,008,000,000	817,000,000	880,000,000	755,000,000	736,000,000	853,000,000	796,000,000	748,000,000
contingencies and commitments
shareholders’ equity
carnival corporation common stock, 0.01 par value...	14,000,000	13,000,000	13,000,000	13,000,000	13,000,000	13,000,000	13,000,000	13,000,000	12,000,000	12,000,000	12,000,000	12,000,000	12,000,000
carnival plc ordinary shares, 1.66 par value; 217 shares issued at 2026 and 2025	361,000,000
additional paid-in capital	17,871,000,000	17,238,000,000	17,208,000,000	17,180,000,000	17,155,000,000	16,723,000,000	16,701,000,000	16,679,000,000	16,712,000,000	16,699,000,000	16,684,000,000	16,635,000,000	16,872,000,000	16,626,000,000	15,457,000,000	15,360,000,000	15,146,000,000	15,005,000,000	14,977,000,000	13,948,000,000	10,680,000,000	9,683,000,000	8,829,000,000	8,798,000,000	8,785,000,000	8,776,000,000	8,756,000,000	8,741,000,000	8,721,000,000	8,708,000,000	8,690,000,000	8,690,000,000	8,673,000,000	8,660,000,000	8,618,000,000	8,605,000,000	8,592,000,000	8,562,000,000	8,505,000,000	8,412,000,000	8,398,000,000	8,369,000,000	8,345,000,000	8,333,000,000	8,325,000,000	8,312,000,000	8,284,000,000	8,277,000,000	8,218,000,000	8,205,000,000	8,196,000,000	8,180,000,000	8,167,000,000	8,155,000,000	8,148,000,000	8,094,000,000	8,109,000,000	8,059,000,000	7,967,000,000	7,707,000,000	7,695,000,000	7,699,000,000	7,687,000,000	7,677,000,000	7,666,000,000	7,626,000,000
retained earnings	4,733,000,000	4,395,000,000	2,543,000,000	1,991,000,000	2,101,000,000	1,798,000,000	62,000,000	-29,000,000	185,000,000	233,000,000	-841,000,000	-434,000,000	269,000,000	1,868,000,000	2,649,000,000	4,493,000,000	9,194,000,000	12,030,000,000	14,102,000,000	16,075,000,000	18,297,000,000	21,155,000,000	25,527,000,000	26,576,000,000	25,138,000,000	25,033,000,000	25,066,000,000	24,921,000,000	23,564,000,000	23,360,000,000	23,292,000,000	23,066,000,000	22,026,000,000	21,939,000,000	21,488,000,000	20,320,000,000	19,976,000,000	20,060,000,000	20,023,000,000	19,041,000,000	19,013,000,000	19,538,000,000	18,485,000,000	18,573,000,000	18,782,000,000	18,911,000,000	18,170,000,000	18,322,000,000	18,969,000,000	17,835,000,000	18,015,000,000	18,349,000,000	18,319,000,000	17,186,000,000	17,178,000,000	17,224,000,000	17,055,000,000	15,830,000,000	15,657,000,000	15,770,000,000	15,577,000,000	14,504,000,000	14,240,000,000	13,980,000,000	13,925,000,000	12,832,000,000
accumulated other comprehensive income	-1,738,000,000	-1,715,000,000	-1,753,000,000	-1,986,000,000	-1,975,000,000	-1,894,000,000	-1,919,000,000	-1,938,000,000	-1,939,000,000	-1,896,000,000	-1,903,000,000	-1,972,000,000	-1,982,000,000	-2,024,000,000	-1,742,000,000	-1,486,000,000	-1,349,000,000	-1,126,000,000	-1,233,000,000	-1,436,000,000	-1,439,000,000	-1,962,000,000	-2,028,000,000	-2,183,000,000	-2,076,000,000	-1,869,000,000																-28,000,000	243,000,000	273,000,000	161,000,000								585,000,000	542,000,000	141,000,000	-254,000,000	-545,000,000	-1,029,000,000	-273,000,000	462,000,000	199,000,000	107,000,000	-847,000,000	-623,000,000	666,000,000	1,219,000,000
treasury stock	-8,210,000,000	-8,364,000,000	-8,364,000,000	-8,376,000,000	-8,404,000,000	-8,404,000,000	-8,404,000,000	-8,404,000,000	-8,449,000,000	-8,449,000,000	-8,449,000,000	-8,433,000,000	-8,468,000,000	-8,464,000,000	-8,476,000,000	-8,428,000,000	-8,500,000,000	-8,404,000,000	-8,404,000,000	-8,404,000,000	-8,404,000,000	-8,404,000,000	-8,404,000,000	-8,261,000,000	-8,104,000,000	-8,063,000,000	-7,795,000,000	-7,533,000,000	-6,862,000,000	-6,565,000,000	-6,349,000,000	-6,104,000,000	-5,946,000,000	-5,864,000,000	-5,559,000,000	-4,851,000,000	-4,365,000,000	-3,475,000,000	-3,162,000,000	-3,087,000,000	-3,087,000,000	-3,087,000,000	-3,073,000,000	-3,074,000,000	-3,077,000,000	-3,077,000,000	-3,066,000,000	-3,041,000,000	-2,923,000,000	-2,856,000,000	-2,854,000,000	-2,851,000,000	-2,682,000,000	-2,394,000,000	-2,395,000,000	-2,394,000,000	-2,385,000,000	-2,357,000,000	-2,293,000,000	-2,264,000,000	-2,271,000,000	-2,285,000,000	-2,286,000,000	-2,296,000,000	-2,296,000,000	-2,297,000,000
total shareholders’ equity attributable to carnival corporation & plc	13,031,000,000
noncontrolling interest	18,000,000
total shareholders’ equity	13,049,000,000	11,928,000,000	10,007,000,000	9,182,000,000	9,251,000,000	8,597,000,000	6,814,000,000	6,682,000,000	6,882,000,000	6,960,000,000	5,865,000,000	6,170,000,000	7,065,000,000	8,379,000,000	8,260,000,000	10,311,000,000	14,863,000,000	17,876,000,000	19,813,000,000		19,503,000,000	20,840,000,000	24,290,000,000	25,295,000,000	24,108,000,000	24,241,000,000		24,654,000,000	23,933,000,000	24,382,000,000	24,216,000,000	24,172,000,000	22,964,000,000	22,660,000,000	22,900,000,000	22,791,000,000	22,625,000,000	23,771,000,000	24,353,000,000	23,252,000,000	23,350,000,000	25,157,000,000	24,365,000,000	24,470,000,000	24,556,000,000	24,260,000,000	23,280,000,000	23,523,000,000	24,193,000,000	23,026,000,000	23,653,000,000	23,832,000,000	24,752,000,000	23,852,000,000	23,435,000,000	23,031,000,000	22,595,000,000	20,864,000,000	21,419,000,000	22,035,000,000	21,560,000,000	20,385,000,000	19,154,000,000	19,098,000,000	20,321,000,000	19,740,000,000
carnival plc ordinary shares, 1.66 par value; 217 shares issued at 2025 and 2024		361,000,000	361,000,000	361,000,000
carnival plc ordinary shares, 1.66 par value; 217 shares issued at 2024 and 2023					361,000,000	361,000,000	361,000,000	361,000,000
restricted cash									11,000,000	18,000,000	18,000,000	15,000,000	1,988,000,000
short-term borrowings												200,000,000	200,000,000	2,675,000,000	2,675,000,000	2,741,000,000	3,099,000,000	3,099,000,000	3,083,000,000	3,084,000,000	3,374,000,000	3,562,000,000	1,004,000,000	238,000,000	480,000,000	768,000,000	848,000,000	632,000,000	837,000,000	1,108,000,000	485,000,000	182,000,000	675,000,000	169,000,000	334,000,000	410,000,000	265,000,000	30,000,000	38,000,000	305,000,000	874,000,000	146,000,000	508,000,000	406,000,000	60,000,000	196,000,000	14,000,000	122,000,000	9,000,000	541,000,000	538,000,000	281,000,000	912,000,000	274,000,000	679,000,000	740,000,000	415,000,000	808,000,000	927,000,000	135,000,000	199,000,000	161,000,000	283,000,000	256,000,000	63,000,000	188,000,000
carnival plc ordinary shares, 1.66 par value; 217 shares at 2023 and 2022 issued									361,000,000	361,000,000	361,000,000	361,000,000
short-term investments															151,000,000	515,000,000	647,000,000	2,204,000,000	1,840,000,000																																														9,000,000	12,000,000
commitments and contingencies
carnival plc ordinary shares, 1.66 par value; 217 shares at 2022 and 2021 issued													361,000,000
common stock of carnival corporation, 0.01 par value...														12,000,000	11,000,000	11,000,000	11,000,000	11,000,000	11,000,000	11,000,000	8,000,000	7,000,000	7,000,000	7,000,000	7,000,000	7,000,000	7,000,000	7,000,000	7,000,000	7,000,000	7,000,000	7,000,000	7,000,000	7,000,000	7,000,000	7,000,000	7,000,000	7,000,000	7,000,000	7,000,000	7,000,000	7,000,000	7,000,000	7,000,000	7,000,000	7,000,000	7,000,000	7,000,000	6,000,000	6,000,000	6,000,000	6,000,000	6,000,000	6,000,000	6,000,000	6,000,000	6,000,000	6,000,000	6,000,000
ordinary shares of carnival plc, 1.66 par value; 217 shares at 2022 and 2021 issued														361,000,000	361,000,000	361,000,000
ordinary shares of carnival plc, 1.66 par value; 217 shares at 2021 and 2020 issued																	361,000,000	361,000,000	361,000,000
liabilities and shareholders' equity
shareholders' equity
ordinary shares of carnival plc, 1.66 par value; 217 shares at 2020 and 2019 issued																				361,000,000	361,000,000	360,000,000	359,000,000
total shareholders' equity																				20,555,000,000							24,443,000,000
contingencies
ordinary shares of carnival plc, 1.66 par value; 217 shares at 2019 and 2018 issued																								358,000,000	358,000,000	358,000,000
ordinary shares of carnival plc, 1.66 par value; 217 shares at 2018 and 2017 issued																											358,000,000	358,000,000	358,000,000	358,000,000
accumulated other comprehensive loss																											-1,949,000,000	-1,840,000,000	-1,855,000,000	-1,486,000,000	-1,782,000,000	-1,845,000,000	-2,154,000,000	-2,440,000,000	-2,012,000,000	-1,648,000,000	-1,943,000,000	-1,741,000,000	-1,378,000,000	-1,479,000,000	-1,339,000,000					-251,000,000	-473,000,000	-399,000,000	-434,000,000	-521,000,000	-67,000,000	-209,000,000
ordinary shares of carnival plc, 1.66 par value; 217 shares at 2017 and 2016 issued																															358,000,000	358,000,000	358,000,000	358,000,000
insurance recoverables																																			102,000,000	108,000,000	112,000,000	109,000,000	124,000,000	176,000,000	163,000,000	123,000,000	299,000,000	269,000,000	381,000,000	450,000,000	637,000,000	337,000,000	482,000,000	403,000,000	851,000,000
ordinary shares of carnival plc, 1.66 par value; 216 shares at 2016 and 2015 issued																																			358,000,000	358,000,000	358,000,000
ordinary shares of carnival plc, 1.66 par value; 216 shares at 2015 and 2014 issued																																						358,000,000	358,000,000	358,000,000	358,000,000
claims reserve																																							252,000,000	295,000,000	278,000,000	225,000,000	384,000,000	352,000,000	456,000,000	558,000,000	737,000,000	440,000,000	564,000,000	479,000,000	398,000,000
ordinary shares of carnival plc, 1.66 par value; 216 shares at 2014 and 2013 issued																																										358,000,000	358,000,000	358,000,000
dividends payable																																													194,000,000	194,000,000	194,000,000	194,000,000
ordinary shares of carnival plc, 1.66 par value; 216 shares at 2013 and 215 shares at 2012 issued																																													358,000,000	358,000,000	358,000,000
ordinary shares of carnival plc, 1.66 par value; 215 shares at 2013 and 2012 issued																																																357,000,000
other long-term liabilities and deferred income																																																	664,000,000	782,000,000	802,000,000	647,000,000	679,000,000	712,000,000	706,000,000	693,000,000	732,000,000	721,000,000	713,000,000	736,000,000	651,000,000	676,000,000	652,000,000	786,000,000	783,000,000	741,000,000
ordinary shares of carnival plc, 1.66 par value; 215 shares at 2012 and 2011 issued																																																	357,000,000	357,000,000	357,000,000
ordinary shares of carnival plc, 1.66 par value; 215 shares at 2011 and 214 shares at 2010 issued																																																				357,000,000	357,000,000	357,000,000	357,000,000
ordinary shares of carnival plc, 1.66 par value; 214 shares at 2010 and 213 shares at 2009 issued																																																								355,000,000	355,000,000	355,000,000	355,000,000
trademarks																																																									1,310,000,000	1,289,000,000	1,316,000,000	1,346,000,000	1,332,000,000	1,328,000,000	1,281,000,000	1,294,000,000	1,359,000,000	1,389,000,000
convertible debt subject to current put option																																																										595,000,000
common stock of carnival corporation; .01 par value...																																																												6,000,000				6,000,000
ordinary shares of carnival plc; 1.66 par value; 226 shares authorized; 213 shares at 2009 and 2008 issued																																																												354,000,000	354,000,000	354,000,000	354,000,000
convertible debt subject to current put options																																																													278,000,000	276,000,000	273,000,000	271,000,000	232,000,000	1,398,000,000
common stock of carnival corporation; 0.01 par value...																																																													6,000,000	6,000,000	6,000,000		6,000,000	6,000,000
ordinary shares of carnival plc; 1.66 par value; 226 shares authorized; 213 shares at 2008 and 2007 issued																																																																354,000,000	354,000,000	354,000,000

Cashflow Statements:

Quarterly

Annual

Unit: USD	2026-02-28	2025-08-31	2025-05-31	2025-02-28	2024-11-30	2024-08-31	2024-05-31	2024-02-29	2023-11-30	2023-08-31	2023-05-31	2023-02-28	2022-11-30	2022-08-31	2022-05-31	2022-02-28	2021-08-31	2021-05-31	2021-02-28	2020-11-30	2020-08-31	2020-05-31	2020-02-29	2019-08-31	2019-05-31	2019-02-28	2018-11-30	2018-08-31	2018-05-31	2018-02-28	2017-11-30	2017-08-31	2017-05-31	2017-02-28	2016-08-31	2016-05-31	2016-02-29	2015-11-30	2015-08-31	2015-05-31	2015-02-28	2014-08-31	2014-05-31	2014-02-28	2013-11-30	2013-08-31	2013-05-31	2013-02-28	2012-08-31	2012-05-31	2012-02-29	2011-11-30	2011-08-31	2011-05-31	2011-02-28	2010-11-30	2010-08-31	2010-05-31	2010-02-28	2009-11-30	2009-08-31	2009-05-31	2009-02-28	2008-11-30	2008-08-31	2008-05-31	2008-02-29

operating activities
net income	263,000,000	1,852,000,000	564,000,000	-78,000,000	303,000,000	1,736,000,000	91,000,000	-214,000,000	-48,000,000	1,074,000,000	-407,000,000	-693,000,000	-1,598,000,000	-769,000,000	-1,835,000,000	-1,891,000,000	-2,836,000,000	-2,072,000,000	-1,973,000,000	-2,222,000,000	-2,859,000,000	-4,374,000,000	-781,000,000	1,780,000,000	451,000,000	336,000,000	493,000,000	1,708,000,000	560,000,000	391,000,000	546,000,000	1,330,000,000	378,000,000	352,000,000	1,424,000,000	605,000,000	142,000,000	270,000,000	1,216,000,000	222,000,000	49,000,000	1,247,000,000	106,000,000	-15,000,000	66,000,000	934,000,000	41,000,000	37,000,000	1,330,000,000	14,000,000	-139,000,000	217,000,000	1,337,000,000	206,000,000	152,000,000	248,000,000	1,303,000,000	252,000,000	175,000,000	193,000,000	1,073,000,000	264,000,000	260,000,000	371,000,000	1,333,000,000	390,000,000	236,000,000
adjustments to reconcile net income to net cash from operating activities
depreciation and amortization	696,000,000	718,000,000	692,000,000	654,000,000	659,000,000	651,000,000	634,000,000	613,000,000	596,000,000	595,000,000	597,000,000	582,000,000	568,000,000	581,000,000	572,000,000	554,000,000	562,000,000	567,000,000	552,000,000	543,000,000	551,000,000	577,000,000	570,000,000	548,000,000	543,000,000	516,000,000	507,000,000	510,000,000	512,000,000	488,000,000	478,000,000	472,000,000	457,000,000	439,000,000	442,000,000	438,000,000	423,000,000	420,000,000	399,000,000	406,000,000	401,000,000	413,000,000	410,000,000	404,000,000	402,000,000	406,000,000	391,000,000	389,000,000	383,000,000	376,000,000	376,000,000	385,000,000	390,000,000	380,000,000	367,000,000	367,000,000	355,000,000	349,000,000	345,000,000	345,000,000	336,000,000	317,000,000	311,000,000	313,000,000	323,000,000	312,000,000	301,000,000
loss on debt extinguishment		105,000,000	4,000,000	249,000,000	1,000,000	12,000,000	30,000,000	33,000,000		68,000,000
share-based compensation	28,000,000	25,000,000	27,000,000	18,000,000	15,000,000	17,000,000	19,000,000	11,000,000	10,000,000	12,000,000	22,000,000	9,000,000	22,000,000	25,000,000	28,000,000	26,000,000	29,000,000	26,000,000	40,000,000	53,000,000	14,000,000	18,000,000	20,000,000	11,000,000	7,000,000	20,000,000	16,000,000	17,000,000	14,000,000	18,000,000	15,000,000	14,000,000	14,000,000	20,000,000	12,000,000	12,000,000	16,000,000	17,000,000	13,000,000	14,000,000	11,000,000	11,000,000	13,000,000	13,000,000	10,000,000	8,000,000	6,000,000	18,000,000	8,000,000	8,000,000	14,000,000	7,000,000	10,000,000	12,000,000	17,000,000	10,000,000	10,000,000	8,000,000	15,000,000	9,000,000	9,000,000	13,000,000	19,000,000	9,000,000	11,000,000	11,000,000	19,000,000
amortization of discounts and debt issue costs	27,000,000	28,000,000	30,000,000	30,000,000	34,000,000	35,000,000	36,000,000	36,000,000	35,000,000	41,000,000	41,000,000	44,000,000	40,000,000	44,000,000	41,000,000	46,000,000	48,000,000	41,000,000	42,000,000
non-cash lease expense	42,000,000	42,000,000	40,000,000	37,000,000
greenhouse gas regulatory expense	15,000,000	34,000,000	23,000,000	6,000,000
other	72,000,000	-22,000,000	46,000,000	26,000,000	-21,000,000	37,000,000	39,000,000	16,000,000	17,000,000	31,000,000	1,000,000	7,000,000	27,000,000	18,000,000	7,000,000	5,000,000				-59,000,000	-35,000,000	17,000,000	-73,000,000	19,000,000	-2,000,000	12,000,000	16,000,000	-26,000,000	-20,000,000	24,000,000	-1,000,000	16,000,000	16,000,000	20,000,000	24,000,000	13,000,000	9,000,000	15,000,000	9,000,000	12,000,000	4,000,000	15,000,000	4,000,000	5,000,000	9,000,000	11,000,000	-4,000,000	19,000,000	4,000,000	-7,000,000	41,000,000	6,000,000	32,000,000	8,000,000	2,000,000	6,000,000	3,000,000	7,000,000	-31,000,000	16,000,000	17,000,000	13,000,000	-9,000,000	-25,000,000	-16,000,000	-1,000,000	5,000,000
changes in operating assets and liabilities
receivables	17,000,000	-85,000,000	-11,000,000	33,000,000	23,000,000	-110,000,000	144,000,000	-106,000,000	-81,000,000	-44,000,000	66,000,000	-121,000,000	-37,000,000	-14,000,000	-98,000,000	-22,000,000	-68,000,000	25,000,000	6,000,000	100,000,000	227,000,000	-223,000,000	21,000,000	-51,000,000	0	-50,000,000	3,000,000	-26,000,000	-5,000,000	-30,000,000	7,000,000	7,000,000	-6,000,000	-2,000,000	5,000,000	-22,000,000	-18,000,000	27,000,000	62,000,000	-64,000,000	-21,000,000	-71,000,000	-41,000,000	146,000,000	44,000,000	-33,000,000	-5,000,000	-134,000,000	-25,000,000	-7,000,000	-22,000,000	75,000,000	3,000,000	-50,000,000	-71,000,000	164,000,000	64,000,000	-66,000,000	-56,000,000	122,000,000	-53,000,000	6,000,000	6,000,000	174,000,000	-128,000,000	-115,000,000	-1,000,000
inventories	-3,000,000	2,000,000	50,000,000	-17,000,000	-24,000,000	19,000,000	21,000,000	-7,000,000	-42,000,000	-37,000,000	13,000,000	-19,000,000	-8,000,000	-8,000,000	-42,000,000	-37,000,000			-1,000,000	6,000,000	13,000,000	73,000,000	-15,000,000	17,000,000	-2,000,000	7,000,000	-48,000,000	-3,000,000	-17,000,000	1,000,000	-31,000,000	1,000,000	16,000,000	-35,000,000	-1,000,000	20,000,000	-4,000,000	-30,000,000	24,000,000	4,000,000	7,000,000	23,000,000	-3,000,000	-5,000,000	18,000,000	-4,000,000	0	5,000,000	14,000,000	-3,000,000	-4,000,000	-18,000,000	-1,000,000	-16,000,000	-19,000,000	-25,000,000	11,000,000	14,000,000	-12,000,000	-7,000,000	0	9,000,000	8,000,000	33,000,000	-25,000,000	-17,000,000	1,000,000
prepaid expenses and other assets	-149,000,000	71,000,000	-145,000,000	-64,000,000	-157,000,000	60,000,000	-185,000,000	634,000,000	323,000,000	879,000,000
accounts payable	-33,000,000	25,000,000	21,000,000	-31,000,000	32,000,000	-6,000,000	-41,000,000	-11,000,000	46,000,000	54,000,000	12,000,000	-35,000,000	107,000,000	37,000,000	163,000,000	-24,000,000	134,000,000	9,000,000	-128,000,000	-68,000,000	-1,149,000,000	904,000,000	148,000,000	-93,000,000	3,000,000	65,000,000	70,000,000	-80,000,000	-33,000,000	19,000,000	122,000,000	-63,000,000	9,000,000	-47,000,000	52,000,000	43,000,000	-7,000,000	59,000,000	-62,000,000	33,000,000	6,000,000	-9,000,000	75,000,000	-88,000,000	29,000,000	-32,000,000	59,000,000	23,000,000	27,000,000	31,000,000	-62,000,000	50,000,000	-9,000,000	25,000,000	1,000,000	-47,000,000	-20,000,000	47,000,000	-16,000,000	-3,000,000	66,000,000	24,000,000	-13,000,000	-19,000,000	64,000,000	-27,000,000	-84,000,000
accrued liabilities and other	-296,000,000	22,000,000	61,000,000	-443,000,000	-78,000,000	275,000,000	-138,000,000	108,000,000	-8,000,000	86,000,000	41,000,000	28,000,000	79,000,000	250,000,000	77,000,000	-65,000,000	222,000,000	69,000,000	167,000,000	-142,000,000	-172,000,000	-117,000,000	120,000,000	15,000,000	43,000,000	5,000,000		83,000,000	-51,000,000	-198,000,000		45,000,000																													94,000,000
customer deposits	585,000,000	-1,425,000,000	1,093,000,000	503,000,000	80,000,000	-1,544,000,000	1,352,000,000	619,000,000	72,000,000	-932,000,000	1,433,000,000	596,000,000	296,000,000	-228,000,000	1,424,000,000	187,000,000	652,000,000	294,000,000	-49,000,000	-164,000,000	-552,000,000	-1,951,000,000	-36,000,000	-1,107,000,000	1,158,000,000	358,000,000	-10,000,000	-864,000,000	1,142,000,000	271,000,000	-94,000,000	-784,000,000	1,020,000,000	219,000,000	-631,000,000	938,000,000	88,000,000	-21,000,000	-594,000,000	809,000,000	160,000,000	-534,000,000	653,000,000	23,000,000	1,000,000	-688,000,000	621,000,000	-39,000,000	-568,000,000	633,000,000	-50,000,000	22,000,000	-538,000,000	751,000,000	56,000,000	-10,000,000	-484,000,000	760,000,000	5,000,000	10,000,000	-325,000,000	485,000,000	-215,000,000	-267,000,000	-620,000,000	805,000,000	6,000,000
net cash from operating activities	1,263,000,000	1,383,000,000	2,392,000,000	925,000,000	911,000,000	1,205,000,000	2,039,000,000	1,768,000,000	922,000,000	1,834,000,000	1,137,000,000	388,000,000	-117,000,000	-344,000,000	3,000,000	-1,212,000,000	-879,000,000	-1,359,000,000	-1,503,000,000	-1,652,000,000	-2,845,000,000	-2,720,000,000	916,000,000	1,245,000,000	2,053,000,000	1,116,000,000	1,113,000,000	1,349,000,000	2,023,000,000	1,064,000,000	1,024,000,000	1,449,000,000	1,917,000,000	932,000,000	1,429,000,000	1,883,000,000	798,000,000	978,000,000	1,281,000,000	1,515,000,000	771,000,000	1,120,000,000	1,196,000,000	477,000,000	475,000,000	803,000,000	1,157,000,000	399,000,000	1,018,000,000	1,136,000,000	322,000,000	750,000,000	1,215,000,000	1,389,000,000	412,000,000	734,000,000	1,290,000,000	1,398,000,000	396,000,000	712,000,000	1,189,000,000	1,136,000,000	305,000,000	512,000,000	1,064,000,000	1,442,000,000	373,000,000
capital expenditures	-566,000,000	-647,000,000	-851,000,000	-607,000,000	-592,000,000	-577,000,000	-1,319,000,000	-2,138,000,000	-675,000,000	-837,000,000	-697,000,000	-1,075,000,000	-1,181,000,000	-538,000,000	-491,000,000	-2,730,000,000	-963,000,000	-383,000,000	-1,774,000,000	-1,721,000,000	-231,000,000	-342,000,000	-1,326,000,000	-427,000,000	-892,000,000	-2,129,000,000	-965,000,000	-583,000,000	-1,627,000,000	-574,000,000	0	-437,000,000	-1,447,000,000	-412,000,000	-450,000,000	-1,636,000,000	-330,000,000	-590,000,000	-323,000,000	-439,000,000	-942,000,000	-348,000,000	-976,000,000	-353,000,000	-337,000,000	-365,000,000	-1,206,000,000	-241,000,000	-167,000,000	-1,730,000,000	-267,000,000	-261,000,000	-813,000,000	-1,450,000,000	-172,000,000	-741,000,000	-670,000,000	0	-1,169,000,000	0	-446,000,000	0	-306,000,000	-630,000,000	-1,130,000,000	-1,335,000,000	-258,000,000
free cash flows	697,000,000	736,000,000	1,541,000,000	318,000,000	319,000,000	628,000,000	720,000,000	-370,000,000	247,000,000	997,000,000	440,000,000	-687,000,000	-1,298,000,000	-882,000,000	-488,000,000	-3,942,000,000	-1,842,000,000	-1,742,000,000	-3,277,000,000	-3,373,000,000	-3,076,000,000	-3,062,000,000	-410,000,000	818,000,000	1,161,000,000	-1,013,000,000	148,000,000	766,000,000	396,000,000	490,000,000	1,024,000,000	1,012,000,000	470,000,000	520,000,000	979,000,000	247,000,000	468,000,000	388,000,000	958,000,000	1,076,000,000	-171,000,000	772,000,000	220,000,000	124,000,000	138,000,000	438,000,000	-49,000,000	158,000,000	851,000,000	-594,000,000	55,000,000	489,000,000	402,000,000	-61,000,000	240,000,000	-7,000,000	620,000,000	1,398,000,000	-773,000,000	712,000,000	743,000,000	1,136,000,000	-1,000,000	-118,000,000	-66,000,000	107,000,000	115,000,000
investing activities
purchases of property and equipment	-566,000,000	-647,000,000	-851,000,000	-607,000,000	-592,000,000	-577,000,000	-1,319,000,000	-2,138,000,000	-675,000,000	-837,000,000	-697,000,000	-1,075,000,000	-1,181,000,000	-538,000,000	-491,000,000	-2,730,000,000	-963,000,000	-383,000,000	-1,774,000,000	-1,721,000,000	-231,000,000	-342,000,000	-1,326,000,000	-427,000,000	-892,000,000	-2,129,000,000	-965,000,000	-583,000,000	-1,627,000,000	-574,000,000																													-1,169,000,000		-446,000,000
proceeds from sales of ships and other property and equipment	3,000,000
advances to affiliates	-37,000,000
net cash from investing activities	-597,000,000	-624,000,000	-586,000,000	-605,000,000	-574,000,000	-577,000,000	-1,221,000,000	-2,163,000,000	-488,000,000	-813,000,000	-465,000,000	-1,044,000,000	-1,300,000,000	-360,000,000	-75,000,000	-3,032,000,000	620,000,000	-566,000,000	-3,589,000,000	-1,788,000,000	-196,000,000	-95,000,000	-1,161,000,000	-399,000,000	-859,000,000	-2,059,000,000	-896,000,000	-514,000,000	-1,501,000,000	-591,000,000	-670,000,000	-485,000,000	-1,460,000,000	-474,000,000	-449,000,000	-1,714,000,000	-459,000,000	-673,000,000	-378,000,000	-453,000,000	-974,000,000	-349,000,000	-919,000,000	-349,000,000	-249,000,000	-434,000,000	-1,206,000,000	-167,000,000	-144,000,000	-1,208,000,000	-248,000,000	-236,000,000	-785,000,000	-1,467,000,000	-158,000,000	-765,000,000	-642,000,000	-978,000,000	-1,116,000,000	-930,000,000	-492,000,000	-1,649,000,000	-313,000,000	-541,000,000	-1,136,000,000	-1,317,000,000	-261,000,000
financing activities
principal repayments of long-term debt	-945,000,000	-5,612,000,000	-1,616,000,000	-3,448,000,000	-597,000,000	-767,000,000	-2,682,000,000	-1,390,000,000	-832,000,000	-4,534,000,000	-1,615,000,000	-679,000,000	-1,002,000,000	-389,000,000	-181,000,000	-503,000,000	-2,142,000,000	-697,000,000	-668,000,000	-725,000,000	-513,000,000	-251,000,000	-132,000,000	-134,000,000	-243,000,000	-95,000,000	-285,000,000	-90,000,000	-218,000,000	-963,000,000	-215,000,000	-105,000,000	-806,000,000	-101,000,000	-102,000,000	-241,000,000	-628,000,000	-466,000,000	-188,000,000	-248,000,000	-336,000,000	-112,000,000	-1,089,000,000	-312,000,000	-1,270,000,000	-112,000,000	-218,000,000	-612,000,000	-426,000,000	-215,000,000	-112,000,000														-792,000,000	-1,947,000,000	-1,423,000,000
debt issuance costs	-4,000,000	-27,000,000	-17,000,000	-24,000,000	-81,000,000	-5,000,000	-40,000,000	-77,000,000	-15,000,000
debt extinguishment costs		-45,000,000	0	-197,000,000	0	0	-10,000,000	-31,000,000	-12,000,000
proceeds from issuance of long-term debt		4,536,000,000	1,102,000,000	2,980,000,000	47,000,000	0	1,313,000,000	1,735,000,000	0	1,945,000,000	186,000,000	830,000,000	3,875,000,000	0	987,000,000	2,347,000,000	2,920,000,000	0	4,980,000,000	3,552,000,000	4,794,000,000	5,851,000,000	823,000,000	0	283,000,000	1,439,000,000	924,000,000	0	1,149,000,000	469,000,000	0	0	367,000,000	100,000,000	110,000,000	379,000,000	555,000,000	1,569,000,000	0	0	472,000,000	0			850,000,000	0	837,000,000	1,000,000,000	0																1,158,000,000	2,197,000,000	1,650,000,000
dividends paid	-208,000,000																			0	0	-345,000,000	-344,000,000	-347,000,000	-346,000,000	-348,000,000	-352,000,000	-357,000,000	-323,000,000	-323,000,000	-290,000,000	-290,000,000	-253,000,000	-254,000,000	-262,000,000	-227,000,000	-232,000,000	-232,000,000	-196,000,000	-194,000,000	-194,000,000	-194,000,000	-194,000,000	-194,000,000	-194,000,000	-193,000,000	-195,000,000	-582,000,000	-196,000,000	-194,000,000	-194,000,000	-197,000,000	-197,000,000	-198,000,000	-79,000,000	-79,000,000	-79,000,000			0	0	0	-314,000,000	-316,000,000	-315,000,000	-314,000,000	-316,000,000
net cash from financing activities	-1,166,000,000	-1,144,000,000	-521,000,000	-690,000,000	-631,000,000	-770,000,000	-1,420,000,000	237,000,000	-860,000,000	-2,677,000,000	-1,663,000,000	111,000,000	360,000,000	754,000,000	735,000,000	1,728,000,000	376,000,000	-693,000,000	5,216,000,000	4,951,000,000	4,274,000,000	8,336,000,000	1,089,000,000	-886,000,000	-638,000,000	612,000,000	247,000,000	-1,368,000,000	89,000,000	-428,000,000	-448,000,000	-1,069,000,000	-320,000,000	-615,000,000	-1,045,000,000	-434,000,000	-947,000,000	567,000,000	-648,000,000	-1,012,000,000	151,000,000	-669,000,000	-357,000,000	-162,000,000	-751,000,000	-113,000,000	287,000,000	-203,000,000	-1,220,000,000	533,000,000	-50,000,000	-485,000,000	-549,000,000	171,000,000	-230,000,000	-77,000,000	-752,000,000	-551,000,000	976,000,000	-216,000,000	-211,000,000	354,000,000	-20,000,000	-57,000,000	-34,000,000	-128,000,000	-96,000,000
effect of exchange rate changes on cash, cash equivalents and restricted cash	-2,000,000	6,000,000	30,000,000	-6,000,000	-18,000,000	16,000,000	-3,000,000	-3,000,000	-8,000,000	19,000,000	8,000,000	-2,000,000	-12,000,000	-32,000,000	-27,000,000	-8,000,000	-6,000,000	5,000,000	14,000,000	-10,000,000	62,000,000	8,000,000	-7,000,000	-6,000,000	-6,000,000	1,000,000
net increase in cash, cash equivalents and restricted cash	-501,000,000	-380,000,000	1,316,000,000	-376,000,000	-311,000,000	-126,000,000	-605,000,000	-162,000,000	-435,000,000	-1,636,000,000	-984,000,000	-546,000,000	-1,070,000,000	18,000,000	636,000,000	-2,524,000,000	111,000,000	-2,612,000,000	138,000,000	1,500,000,000	1,295,000,000	5,528,000,000	838,000,000	-46,000,000	551,000,000	-331,000,000
cash, cash equivalents and restricted cash at beginning of period	1,958,000,000	0	0	1,231,000,000		0	0	2,436,000,000		0	0	6,037,000,000		0	0	8,976,000,000	0	0	9,692,000,000		0	0	530,000,000	0	0	996,000,000
cash, cash equivalents and restricted cash at end of period	1,457,000,000	-379,000,000	1,315,000,000	856,000,000		-126,000,000	-605,000,000	2,274,000,000		-1,637,000,000	-984,000,000	5,491,000,000		18,000,000	637,000,000	6,452,000,000	111,000,000	-2,611,000,000	9,829,000,000		1,295,000,000	5,528,000,000	1,368,000,000	-45,000,000	550,000,000	665,000,000
impairments									2,000,000				462,000,000	0	0	8,000,000	475,000,000	49,000,000	17,000,000	138,000,000	910,000,000	1,953,000,000	1,062,000,000				0				0
(income) income from equity-method investments		-8,000,000
gain on sales of ships		0			-33,000,000
proceeds from sales of ships and other		0	301,000,000	11,000,000									15,000,000	0	37,000,000	18,000,000	27,000,000
loss from equity-method investments				2,000,000	-6,000,000	-10,000,000	4,000,000	3,000,000		-11,000,000	16,000,000	11,000,000			-15,000,000	11,000,000
purchase of short-term investments													0	0	0	-315,000,000	-1,000,000	-831,000,000	-1,840,000,000
proceeds from maturity of short-term investments													0	151,000,000			1,559,000,000
repayments of short-term borrowings									0	0
proceeds from issuance of common stock									0
proceeds from issuance of common stock under the stock swap program									0
purchase of treasury stock under the stock swap program									0	0			-5,000,000	0	-59,000,000	-23,000,000
cash, cash equivalents and restricted cash at beginning of year
cash, cash equivalents and restricted cash at end of year
noncash lease expense						38,000,000	33,000,000	34,000,000	36,000,000	37,000,000	37,000,000	35,000,000	45,000,000	35,000,000	34,000,000	34,000,000	35,000,000	35,000,000	36,000,000
proceeds from sales of ships										5,000,000	232,000,000	23,000,000							9,000,000	63,000,000	35,000,000	10,000,000	226,000,000	9,000,000			107,000,000	180,000,000							0				0
(gain) loss on debt extinguishment
(gain) loss on sales of ships
purchase of minority interest													0				0			0	0
loss on ship sales and other																	40,000,000	30,000,000	50,000,000
issuance of common stock													0	1,150,000,000	15,000,000	15,000,000	7,000,000	-1,000,000	997,000,000	2,471,000,000	220,000,000
issuance of common stock under the stock swap program													6,000,000	0	62,000,000	27,000,000
debt issue costs and other											-41,000,000	-40,000,000	-37,000,000	-6,000,000	-25,000,000	-86,000,000	-135,000,000	-11,000,000	-93,000,000
prepaid expenses and other												-57,000,000	-158,000,000	-321,000,000	-351,000,000	-44,000,000	-525,000,000	-433,000,000	-263,000,000	-218,000,000	-162,000,000	291,000,000	-120,000,000	82,000,000	-148,000,000	-154,000,000	-2,000,000	17,000,000	-39,000,000	98,000,000	-12,000,000	27,000,000																			6,000,000	-21,000,000	7,000,000	36,000,000	-4,000,000	27,000,000	-44,000,000	8,000,000	-5,000,000	57,000,000	-28,000,000	-34,000,000	12,000,000	10,000,000	38,000,000	-19,000,000	-47,000,000
proceeds from (repayments of) short-term borrowings													-2,476,000,000	0	-66,000,000	-48,000,000	0			-289,000,000	-192,000,000	2,554,000,000	779,000,000	-243,000,000			235,000,000			611,000,000					-78,000,000										-138,000,000					5,000,000	257,000,000					326,000,000	-402,000,000	-107,000,000	809,000,000								70,000,000
premium paid on extinguishment of debt
purchases of common stock
derivative settlements and other														28,000,000	16,000,000	-6,000,000	-2,000,000	-44,000,000	17,000,000	-130,000,000	0
loss on extinguishment of debt
purchases of treasury stock under the stock swap program
purchases of treasury stock																				0	0	0	-12,000,000	-156,000,000	-42,000,000	-274,000,000	-263,000,000	-692,000,000	-295,000,000	-218,000,000	-247,000,000	-153,000,000	-83,000,000	-69,000,000	-709,000,000	-485,000,000	-916,000,000	-367,000,000							0	0	-25,000,000	-113,000,000				-166,000,000				-10,000,000	-209,000,000	-246,000,000	-59,000,000			0	-9,000,000	1,000,000	0	0	-84,000,000
gains on fuel derivatives																														-16,000,000																					-21,000,000
loss on repurchases of convertible notes
(gain) loss on ship sales and other
loss on repurchase of convertible notes
gain on ship sales and other
payments of fuel derivative settlements																								0	0	-6,000,000	-2,000,000	-3,000,000	-13,000,000	-21,000,000	-46,000,000	-58,000,000	-47,000,000	-52,000,000	-61,000,000	-82,000,000	-88,000,000
(repayments of) proceeds from short-term borrowings																										-81,000,000					306,000,000			-289,000,000				-8,000,000	-268,000,000															-408,000,000	-63,000,000							-140,000,000	-115,000,000
losses on fuel derivatives																											2,000,000	-4,000,000			-54,000,000	-8,000,000	54,000,000	-27,000,000	37,000,000	-171,000,000	236,000,000	198,000,000	197,000,000	12,000,000	169,000,000		-10,000,000	16,000,000			31,000,000	28,000,000
accrued and other liabilities																																		3,000,000	79,000,000	-9,000,000	-75,000,000														10,000,000	27,000,000	-16,000,000	37,000,000	-89,000,000	-6,000,000	92,000,000	19,000,000	-24,000,000				-74,000,000	-87,000,000	84,000,000	103,000,000	-63,000,000
sales of treasury stock																																			0	0	40,000,000	97,000,000							0	0	0	35,000,000								11,000,000	217,000,000	255,000,000	62,000,000
effect of exchange rate changes on cash and cash equivalents																											-8,000,000	5,000,000	-10,000,000	12,000,000	0	-3,000,000	23,000,000	-9,000,000	8,000,000	6,000,000	-9,000,000	-16,000,000	-14,000,000	-32,000,000	1,000,000	-9,000,000	2,000,000	-7,000,000	6,000,000	14,000,000	-3,000,000	-18,000,000	14,000,000	-32,000,000	-3,000,000	-9,000,000	-8,000,000	-1,000,000	12,000,000	10,000,000	37,000,000	-28,000,000	-41,000,000	-4,000,000	5,000,000	37,000,000	-15,000,000	-56,000,000	-90,000,000	25,000,000	7,000,000
net increase in cash and cash equivalents																											456,000,000	-527,000,000	600,000,000	58,000,000								856,000,000				93,000,000	-78,000,000	-41,000,000	-519,000,000	270,000,000	235,000,000	11,000,000	-332,000,000	429,000,000	21,000,000	20,000,000	-127,000,000	92,000,000	36,000,000		-67,000,000	-159,000,000	215,000,000		491,000,000	-122,000,000	-43,000,000		-196,000,000	22,000,000	23,000,000
cash and cash equivalents at beginning of year
cash and cash equivalents at end of year
cash and cash equivalents at beginning of period																												0	0	395,000,000		0	0	603,000,000	0	0	1,395,000,000		0	0	331,000,000	0	0	462,000,000		0	0	465,000,000	0	0	450,000,000		0	0	429,000,000		0	0	538,000,000		0	0	650,000,000		0	0	943,000,000
cash and cash equivalents at end of period																												-527,000,000	600,000,000	453,000,000		-108,000,000	160,000,000	437,000,000	-57,000,000	-259,000,000	778,000,000		241,000,000	18,000,000	280,000,000	93,000,000	-78,000,000	421,000,000		270,000,000	235,000,000	476,000,000	-332,000,000	429,000,000	471,000,000		-127,000,000	92,000,000	465,000,000		-67,000,000	-159,000,000	753,000,000		491,000,000	-122,000,000	607,000,000		-196,000,000	22,000,000	966,000,000
proceeds from short-term borrowings																																					235,000,000				210,000,000			344,000,000				67,000,000
additions to property and equipment																																-437,000,000	-1,447,000,000	-412,000,000	-450,000,000	-1,636,000,000	-330,000,000	-590,000,000	-323,000,000	-439,000,000	-942,000,000	-348,000,000	-976,000,000	-353,000,000	-337,000,000	-365,000,000	-1,206,000,000	-241,000,000	-167,000,000	-1,730,000,000	-267,000,000	-261,000,000	-813,000,000	-1,450,000,000	-172,000,000	-741,000,000	-670,000,000						-306,000,000	-630,000,000	-1,130,000,000	-1,335,000,000	-258,000,000
collateral proceeds for fuel derivatives
net decrease in cash and cash equivalents																																-108,000,000	160,000,000	-166,000,000		-259,000,000	-617,000,000			18,000,000	-51,000,000
collateral payments for fuel derivatives																																				32,000,000	-57,000,000
insurance recoverables, prepaid expenses and other																																		-10,000,000	-14,000,000	16,000,000	-12,000,000	37,000,000	33,000,000	41,000,000	20,000,000	201,000,000	98,000,000	103,000,000	125,000,000	68,000,000	133,000,000	76,000,000
losses on ship sales and ship impairments
proceeds from sale of ships																																										0				0	0	70,000,000
gains on ship sales and ship impairment
claims reserves and accrued and other liabilities																																							-14,000,000	30,000,000	-35,000,000	-160,000,000	-94,000,000	-125,000,000	-198,000,000
(payments) receipts of fuel derivative settlements																																							-44,000,000	-53,000,000	-42,000,000
(gains) on ship sales and ship impairment
(gains) on ship sales and ship impairments
trademark and other impairment charges
losses on ship sales including impairments																																													0
goodwill, trademark and other impairment charges																																													0
insurance proceeds for the ship																																																	0
unrealized gains on fuel derivatives
realized losses on fuel derivatives
ibero goodwill and trademark impairment charges																																																	0	0	173,000,000
claims reserves, accrued and other liabilities																																															-116,000,000	-23,000,000	-65,000,000
principal repayments of revolvers																																																				0	0	-11,000,000	-2,000,000	-9,000,000	-18,000,000	-65,000,000	-258,000,000
proceeds from revolvers																																																				0	0	0	8,000,000	5,000,000	0	5,000,000	84,000,000
principal repayments of other long-term debt																																																				-216,000,000	-701,000,000	-185,000,000	-135,000,000	-761,000,000	-285,000,000	-578,000,000	-218,000,000	-966,000,000	-91,000,000	-125,000,000	-91,000,000
proceeds from issuance of other long-term debt																																																				706,000,000	0			474,000,000	0	253,000,000	553,000,000	748,000,000	564,000,000	787,000,000	200,000,000
proceeds from settlement of foreign currency swaps																																																												0	0	0	113,000,000
changes in operating assets and liabilities, excluding businesses acquired and sold
purchases of short-term investments																																																																-1,000,000	-1,000,000	-1,000,000	-1,000,000
sales of short-term investments																																																																1,000,000	0	4,000,000	6,000,000
acquisition of business, net of cash acquired and sales of businesses
principal repayments of revolver
proceeds from revolver
acquisition of minority interest
principal repayments of revolving credit facility																																																													573,000,000	-1,455,000,000	-858,000,000
proceeds from revolving credit facility																																																													-1,284,000,000	1,321,000,000	1,048,000,000
principal repayments of facility
proceeds from facility
proceeds from exercise of stock options																																																																	2,000,000	7,000,000	7,000,000
proceeds from the sale of assets and businesses

Carnival Corporation & plc(NYSE:CUK)

Carnival Corporation & plc
(NYSE:CUK)