ROYAL CARIBBEAN CRUISES LTD (RCL) FY2024 Q3 Statement of Cash Flows

Income StatementCash FlowBalance Sheet

Statement of Cash Flows

2024-07-01 to 2024-09-30

Swipe to see the full flow
ROYAL CARIBBEAN CRUISES LTD cash flow reconciliation, Jul 1, 2024 through Sep 30, 2024One connected Sankey reconciles operating, investing and financing net cash flows through a shared cash pool, from beginning cash to ending cash. Ribbons flow left to right on one dollar scale. Activity totals are dark gray; beginning and ending cash are blue. Cash basis for beginning and ending balances and net cash change: Cash, cash equivalents, and restricted cash. Intermediate calculation bars are lighter gray. Calculated remaining financing cash flows are purple; remaining operating and investing bundles are gray. Their underlying inflows and outflows are not separately identified. Net income is green for profit and red for loss. Identified asset purchases, sales and maturities are blue in either cash direction. Orange marks positive customer-advance and deferred-revenue changes that add to operating cash in the reconciliation. These are net changes, not gross customer receipts. Negative changes are neutral reconciliation adjustments; they do not by themselves identify cash payments. Purple identifies capital transactions such as borrowing, repayments, share issuance and dividends. Free cash flow is a separate comparison, not an added cash flow. Read chart description and values below for full signed amounts, including zero items.Net Income → Net cash from operating activities: $897,000,000.00Net Income → Operating adjustments reconciliation: $218,000,000.00Depreciation and amortization → Operating adjustments reconciliation: $410,000,000.00Remaining operating cash flows, net (calculated) → Operating adjustments reconciliation: $323,000,000.00Increase in prepaid expenses and other assets → Operating adjustments reconciliation: $86,000,000.00Other, net → Operating adjustments reconciliation: $41,000,000.00Increase in accounts payable trade → Operating adjustments reconciliation: $35,000,000.00Share-based compensation expense → Operating adjustments reconciliation: $26,000,000.00Amortization of debt issuance costs, discounts and premiums → Operating adjustments reconciliation: $25,000,000.00Net deferred income tax expense (benefit) → Operating adjustments reconciliation: $10,000,000.00(Increase) decrease in trade and other receivables, net → Operating adjustments reconciliation: $3,000,000.00Operating adjustments reconciliation → Increase in customer deposits: $921,000,000.00Operating adjustments reconciliation → Equity investment income: $106,000,000.00Operating adjustments reconciliation → Decrease in accrued expenses and other liabilities: $95,000,000.00Operating adjustments reconciliation → Loss on derivative instruments not designated as hedges: $32,000,000.00Operating adjustments reconciliation → Increase in inventories, net: $23,000,000.00Cash paid on settlement of derivative financial instruments → investing reconciliation: $31,000,000.00Other, net → investing reconciliation: $13,000,000.00Cash received on loans from unconsolidated affiliates → investing reconciliation: $4,000,000.00Cash received on settlement of derivative financial instruments → investing reconciliation: $2,000,000.00investing reconciliation → Purchases of property and equipment: $334,000,000.00investing reconciliation → Investments in and loans to unconsolidated affiliates: $27,000,000.00Net cash used in financing activities → financing reconciliation: $559,000,000.00Debt proceeds → financing reconciliation: $4,660,000,000.00financing reconciliation → Repayments of debt: $4,995,000,000.00financing reconciliation → Premium on repayment of debt: $186,000,000.00financing reconciliation → Debt issuance costs: $33,000,000.00financing reconciliation → Other, net: $5,000,000.00Net cash used in investing activities → investing reconciliation: $311,000,000.00Beginning cash: Cash, cash equivalents, and restricted cash → Cash sources and uses: $391,000,000.00Net cash from operating activities → Cash sources and uses: $897,000,000.00Cash sources and uses → Ending cash: Cash, cash equivalents, and restricted cash: $418,000,000.00Cash sources and uses → Net cash used in investing activities: $311,000,000.00Cash sources and uses → Net cash used in financing activities: $559,000,000.00Amortization of debt issuance costs, discounts and premiums: $25,000,000.00Debt cost amortization+$25.00 MDepreciation and amortization: $410,000,000.00Depreciation & amortization+$410.00 MLoss on derivative instruments not designated as hedges: -$32,000,000.00Loss on derivative instruments not designated ashedges−$32.00 MIncrease in inventories, net: -$23,000,000.00Inventories−$23.00 MIncrease in customer deposits: -$921,000,000.00Deferred revenue−$921.00 MOther, net: $41,000,000.00Other working capital, net+$41.00 MEquity investment income: -$106,000,000.00Equity-method results−$106.00 MDecrease in accrued expenses and other liabilities: -$95,000,000.00Accrued & other liabilities−$95.00 MIncrease in prepaid expenses and other assets: $86,000,000.00Prepaid & other assets+$86.00 MIncrease in accounts payable trade: $35,000,000.00Accounts payable+$35.00 M(Increase) decrease in trade and other receivables, net: $3,000,000.00Receivables, net+$3.00 MShare-based compensation expense: $26,000,000.00Stock-based compensation+$26.00 MNet Income: $1,115,000,000.00Net Income+$1.12 BNet deferred income tax expense (benefit): $10,000,000.00Net deferred income tax expense (benefit)+$10.00 MRemaining operating cash flows, net (calculated): $323,000,000.00Remaining operating (calculated)+$323.00 MNet cash from operating activities: $897,000,000.00Operating cash+$897.00 MOperating adjustments reconciliation: $1,177,000,000.00Debt issuance costs: -$33,000,000.00Debt issuance costs−$33.00 MRepayments of debt: -$4,995,000,000.00Long-term debt repaid−$5.00 BDebt proceeds: $4,660,000,000.00Long-term debt issued+$4.66 BOther, net: -$5,000,000.00Other financing, net−$5.00 MProceeds from sale of noncontrolling interest: $0.00Premium on repayment of debt: -$186,000,000.00Debt extinguishment costs−$186.00 MNet cash used in financing activities: -$559,000,000.00. Cash required to fund net payments.Financing cash−$559.00 Mfinancing reconciliation: $5,219,000,000.00Cash received on loans from unconsolidated affiliates: $4,000,000.00Related party loan repaid+$4.00 MCash received on settlement of derivative financial instruments: $2,000,000.00Investing derivative proceeds+$2.00 MOther, net: $13,000,000.00Other investing, net+$13.00 MPurchases of property and equipment: -$334,000,000.00PP&E purchases−$334.00 MCash paid on settlement of derivative financial instruments: $31,000,000.00Investing derivative payments+$31.00 MInvestments in and loans to unconsolidated affiliates: -$27,000,000.00Investments in affiliates−$27.00 MNet cash used in investing activities: -$311,000,000.00. Cash required to fund net payments.Investing cash−$311.00 Minvesting reconciliation: $361,000,000.00Cash sources and uses: $1,288,000,000.00Beginning cash: Cash, cash equivalents, and restricted cash: $391,000,000.00Beginning cash$391.00 MEnding cash: Cash, cash equivalents, and restricted cash: $418,000,000.00Ending cash$418.00 MCASH RECONCILIATIONOperatingflowsInvestingflowsFinancingflowsFree cash flow$563.00 MOperating cash − cash spent on PP&ECash flow / Net income0.80×Operating cash flow ÷ net incomeNet cash change+$27.00 MEnding cash − beginning cash
Chart details

ROYAL CARIBBEAN CRUISES LTD cash flow reconciliation, Jul 1, 2024 through Sep 30, 2024

Cash flows for Jul 1, 2024 through Sep 30, 2024. Cash basis: Cash, cash equivalents, and restricted cash. Beginning cash: Jun 30, 2024. Ending cash: Sep 30, 2024. Beginning and ending cash are dated balances. Positive cash flows add cash; negative cash flows reduce it.

Beginning cash on Jun 30, 2024
391,000,000 US dollars. Beginning cash: Cash, cash equivalents, and restricted cash
Operating activities
897,000,000 US dollars. Net cash provided. The remaining amount is calculated by subtracting the other displayed items from the operating total. This quarter is the year to date less the prior quarter's year to date. The prior quarter reported part of this section under different lines (Loss on extinguishment of debt), so Loss on extinguishment of debt and inducement expense cannot be separated for this quarter. It may combine inflows and outflows.
Amortization of debt issuance costs, discounts and premiums
25,000,000 US dollars
Depreciation and amortization
410,000,000 US dollars
Loss on derivative instruments not designated as hedges
negative 32,000,000 US dollars
Increase in inventories, net
negative 23,000,000 US dollars
Increase in customer deposits
negative 921,000,000 US dollars
Other, net
41,000,000 US dollars
Equity investment income
negative 106,000,000 US dollars
Decrease in accrued expenses and other liabilities
negative 95,000,000 US dollars
Increase in prepaid expenses and other assets
86,000,000 US dollars
Increase in accounts payable trade
35,000,000 US dollars
(Increase) decrease in trade and other receivables, net
3,000,000 US dollars
Share-based compensation expense
26,000,000 US dollars
Net Income
1,115,000,000 US dollars
Net deferred income tax expense (benefit)
10,000,000 US dollars
Remaining operating cash flows, net (calculated)
323,000,000 US dollars
Investing activities
negative 311,000,000 US dollars. Net cash used.
Cash received on loans from unconsolidated affiliates
4,000,000 US dollars
Cash received on settlement of derivative financial instruments
2,000,000 US dollars
Other, net
13,000,000 US dollars
Purchases of property and equipment
negative 334,000,000 US dollars
Cash paid on settlement of derivative financial instruments
31,000,000 US dollars
Investments in and loans to unconsolidated affiliates
negative 27,000,000 US dollars
Financing activities
negative 559,000,000 US dollars. Net cash used.
Debt issuance costs
negative 33,000,000 US dollars
Repayments of debt
negative 4,995,000,000 US dollars
Debt proceeds
4,660,000,000 US dollars
Other, net
negative 5,000,000 US dollars
Proceeds from sale of noncontrolling interest
0 US dollars
Premium on repayment of debt
negative 186,000,000 US dollars
Operating adjustment reconciliation
1,177,000,000 US dollars. Intermediate calculation joining the displayed items and the calculated net remainder. It does not establish gross cash receipts or payments and is not an additional cash flow.
financing gross reconciliation
5,219,000,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
investing gross reconciliation
361,000,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
Exchange-rate effect
0 US dollars
Ending cash on Sep 30, 2024
418,000,000 US dollars. Ending cash: Cash, cash equivalents, and restricted cash
Cash sources and uses
1,288,000,000 US dollars. Opening cash plus net sources, equal to net uses plus ending cash.
Net cash change
27,000,000 US dollars. Ending cash minus beginning cash.
Cash flow / Net income
0.80×. Operating cash flow divided by reconciliation net income for the same period. Black from 0.90× through 1.10×; green above 1.10×; red below 0.90×. Color uses the unrounded ratio.
Operating cash flow
897,000,000 US dollars. Operating cash flow used in the free cash flow calculation.
Cash purchases of property, plant and equipment
334,000,000 US dollars. These cash purchases are already included in investing activities above.
Free cash flow
563,000,000 US dollars. A supplemental measure; finance-lease payments are excluded from this definition.

Chart connections

  • Beginning cash plus operating, investing and financing cash flows plus the exchange-rate effect equals ending cash. Negative amounts reduce cash.
  • Financing contributions meet at a reconciliation junction before connecting to the net cash total.
  • Investing contributions meet at a reconciliation junction before connecting to the net cash total.
  • Operating reconciliation adjustments are not all independent cash receipts.
  • Net income exceeds operating cash. The diagram allocates $897.00M of net income directly to operating cash and $218.00M to the adjustment junction, where it combines with other additions to reconcile deductions. This is an accounting presentation, not a tracing of cash receipts.
  • Each activity has one net cash bar connected to the shared cash pool. Positive activity totals enter the pool; negative activity totals leave the pool to fund that activity's net payments. The central pool does not assign a particular funding source to a particular payment.
  • The intermediate calculation bars include both sides of the displayed activity breakdowns; they are not additional cash flows.
  • Operating cash flow minus cash purchases of property, plant and equipment equals free cash flow: 897,000,000 US dollars minus 334,000,000 US dollars equals 563,000,000 US dollars.
ROYAL CARIBBEAN CRUISES LTD (RCL) FY2024 Q3 Statement of Cash Flows Sankey chart
Free to share unchanged, with credit to Plicit.ai · CC BY-NC-ND 4.0Download PNG

Newsletter

Get the teardowns by email

Subscribe if you want the public-company teardowns in your inbox when they're released.

Product waitlist

Health Check and Teardown for your own company

A health check uncovers insights of your private books, not a public ticker. Join this list to get notified as soon as we go-live!