ROYAL CARIBBEAN CRUISES LTD (RCL) [Rocket]

In millions, except per share items	Dec-31-22	Dec-31-21	Dec-31-20	Dec-31-19	Dec-31-18	Dec-31-17	Dec-31-16	Dec-31-15
	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K
Revenues:
Cruise Itinerary					9,125.7	8,446.6	8,209.7
Port Costs					611.4	569.5	570.3
Other Revenues					368.1	331.2	286.7
Total revenues	8,840.5	1,532.1	2,208.8	10,950.7	9,493.8	8,777.8	8,496.4	8,299.1
Revenue growth [+]	477.0%	-30.6%	-79.8%	15.3%	8.2%	3.3%	2.4%	2.8%
Cruise Itinerary					8.0%	2.9%
Port Costs					7.4%	-0.1%
Other Revenues					11.1%	15.5%
Passenger ticket revenues								2.8%
Cost of goods sold [+]	6,614.3	2,657.5	2,765.1	6,760.7	5,972.8	4,896.6	5,015.5	5,099.4
Food and beverage costs								480.0
Labor costs								861.8
Fuel costs				698.0	710.6			795.8
Other direct costs								1,007.9
Gross profit	2,226.2	-1,125.4	-556.3	4,189.9	3,521.0	3,881.3	3,480.9	3,199.7
Gross margin	25.2%	-73.5%	-25.2%	38.3%	37.1%	44.2%	41.0%	38.6%
Selling, general and administrative	1,582.9	1,370.1	1,199.6	1,559.3	1,303.1	1,186.0	1,108.7	1,086.5
Equity in earnings	56.7	-135.5	-213.3	231.0	210.8	156.2	128.4	81.0
Other operating expenses	0.6	82.0	1,566.4	-698.0	-710.6
EBITDA [+]	699.4	-2,712.9	-3,535.6	3,559.6	3,139.3	2,851.5	2,500.5	2,194.2
EBITDA growth	-125.8%	-23.3%	-199.3%	13.4%	10.1%	14.0%	14.0%	23.9%
EBITDA margin	7.9%	-177.1%	-160.1%	32.5%	33.1%	32.5%	29.4%	26.4%
Depreciation and amortization	1,406.7	1,292.9	1,279.3	1,245.9	1,033.7	951.2	894.9	827.0
EBIT [+]	-707.3	-4,005.8	-4,814.8	2,313.7	2,105.6	1,900.3	1,605.6	1,367.2
EBIT growth	-82.3%	-16.8%	-308.1%	9.9%	10.8%	18.4%	17.4%	37.0%
EBIT margin	-8.0%	-261.5%	-218.0%	21.1%	22.2%	21.6%	18.9%	16.5%
Non-recurring items [+]								411.3
Asset impairment								411.3
Interest expense	1,364.2	1,291.8	844.2	408.5	333.7	300.0	307.4	277.7
Interest expense	1,364.2	1,291.8	844.2	408.5	333.7	300.0	307.4	277.7
Other income (expense), net [+]	-84.5	37.1	-116.0	2.4	43.9	24.8	-14.8	-0.4
Other	-120.4	20.3	-137.1	-24.5	11.1	-5.3	-35.7	-24.4
Pre-tax income	-2,156.0	-5,260.5	-5,775.1	1,907.6	1,815.8	1,625.1	1,283.4	677.8
Income taxes	0.0	0.0	22.3	28.7	4.8	0.0	0.0	12.0
Tax rate	0.0%	0.0%		1.5%	0.3%	0.0%	0.0%	1.8%
Minority interest			22.3	28.7	4.8
Net income	-2,156.0	-5,260.5	-5,797.5	1,878.9	1,811.0	1,625.1	1,283.4	665.8
Net margin	-24.4%	-343.3%	-262.5%	17.2%	19.1%	18.5%	15.1%	8.0%

Basic EPS [+]	($8.45)	($20.89)	($27.05)	$8.97	$8.60	$7.57	$5.96	$3.03
Growth	-59.5%	-22.8%	-401.5%	4.3%	13.6%	27.1%	96.5%	-12.0%
Diluted EPS [+]	($8.45)	($20.89)	($27.05)	$8.95	$8.56	$7.53	$5.93	$3.02
Growth	-59.5%	-22.8%	-402.2%	4.5%	13.6%	27.0%	96.7%	-11.9%

Dividends per share [+]			$1.52	$2.88	$2.51	$2.04	$1.61	$1.28
Growth		-100.0%	-47.1%	14.9%	22.9%	26.7%	26.0%	42.2%

Shares outstanding (basic) [+]	255.0	251.8	214.3	209.4	210.6	214.6	215.4	219.5
Growth	1.3%	17.5%	2.4%	-0.6%	-1.9%	-0.4%	-1.9%	-1.0%
Shares outstanding (diluted) [+]	255.0	251.8	214.3	209.9	211.6	215.7	216.3	220.7
Growth	1.3%	17.5%	2.1%	-0.8%	-1.9%	-0.3%	-2.0%	-1.1%

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.