Analysis of Debt
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Carnival Corp. & plc pages available for free this week:
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Solvency Ratios
- Analysis of Short-term (Operating) Activity Ratios
- Common Stock Valuation Ratios
- Net Profit Margin since 2005
- Operating Profit Margin since 2005
- Debt to Equity since 2005
- Price to Operating Profit (P/OP) since 2005
- Price to Sales (P/S) since 2005
- Aggregate Accruals
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Total Debt (Carrying Amount)
Carnival Corp. & plc, balance sheet: debt
US$ in millions
Based on: 10-K (reporting date: 2023-11-30), 10-K (reporting date: 2022-11-30), 10-K (reporting date: 2021-11-30), 10-K (reporting date: 2020-11-30), 10-K (reporting date: 2019-11-30), 10-K (reporting date: 2018-11-30).
| Debt item | Description | The company |
|---|---|---|
| Total debt (carrying amount) | Sum of the carrying values as of the balance sheet date of all debt plus capital lease obligations. | Carnival Corp. & plc total debt increased from 2021 to 2022 but then decreased significantly from 2022 to 2023. |
Total Debt (Fair Value)
| Nov 30, 2023 | |
|---|---|
| Selected Financial Data (US$ in millions) | |
| Total debt (fair value) | |
| Financial Ratio | |
| Debt, fair value to carrying amount ratio | |
Based on: 10-K (reporting date: 2023-11-30).
Weighted-average Interest Rate on Debt
Weighted-average interest rate on debt:
| Interest rate | Debt amount1 | Interest rate × Debt amount | Weighted-average interest rate2 |
|---|---|---|---|
| Total | |||
Based on: 10-K (reporting date: 2023-11-30).
1 US$ in millions
2 Weighted-average interest rate = 100 × ÷ =
Interest Costs Incurred
Carnival Corp. & plc, interest costs incurred
US$ in millions
| 12 months ended: | Nov 30, 2023 | Nov 30, 2022 | Nov 30, 2021 | Nov 30, 2020 | Nov 30, 2019 | Nov 30, 2018 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Interest expense, net of capitalized interest | |||||||||||||
| Capitalized interest | |||||||||||||
| Interest costs incurred |
Based on: 10-K (reporting date: 2023-11-30), 10-K (reporting date: 2022-11-30), 10-K (reporting date: 2021-11-30), 10-K (reporting date: 2020-11-30), 10-K (reporting date: 2019-11-30), 10-K (reporting date: 2018-11-30).
| Debt item | Description | The company |
|---|---|---|
| Interest expense, net of capitalized interest | Amount of the cost of borrowed funds accounted for as interest expense for debt. | Carnival Corp. & plc interest expense, net of capitalized interest increased from 2021 to 2022 and from 2022 to 2023. |
| Capitalized interest | Amount of interest costs capitalized disclosed as an adjusting item to interest costs incurred. | Carnival Corp. & plc capitalized interest decreased from 2021 to 2022 but then slightly increased from 2022 to 2023. |
| Interest costs incurred | Total interest costs incurred during the period and either capitalized or charged against earnings. | Carnival Corp. & plc interest costs incurred decreased from 2021 to 2022 but then increased from 2022 to 2023 exceeding 2021 level. |
Adjusted Interest Coverage Ratio
Based on: 10-K (reporting date: 2023-11-30), 10-K (reporting date: 2022-11-30), 10-K (reporting date: 2021-11-30), 10-K (reporting date: 2020-11-30), 10-K (reporting date: 2019-11-30), 10-K (reporting date: 2018-11-30).
2023 Calculations
1 Interest coverage ratio (without capitalized interest) = EBIT ÷ Interest expense, net of capitalized interest
= ÷ =
2 Adjusted interest coverage ratio (with capitalized interest) = EBIT ÷ Interest costs incurred
= ÷ =
| Solvency ratio | Description | The company |
|---|---|---|
| Adjusted interest coverage ratio | A solvency ratio calculated as EBIT divided by interest payments (including capitalized interest). | Carnival Corp. & plc adjusted interest coverage ratio improved from 2021 to 2022 and from 2022 to 2023. |