Analysis of Reportable Segments
Carnival Corp. & plc operates in 4 segments: North America and Australia (NAA) cruise operations; Europe cruise operations; Cruise Support; and Tour and Other.
Segment Profit Margin
Carnival Corp. & plc, profit margin by reportable segment
| Nov 30, 2023 | Nov 30, 2022 | Nov 30, 2021 | Nov 30, 2020 | Nov 30, 2019 | Nov 30, 2018 | |
|---|---|---|---|---|---|---|
| North America and Australia (NAA) cruise operations | 12.01% | -26.20% | -354.51% | -159.75% | 18.01% | 19.52% |
| Europe cruise operations | 9.07% | -51.83% | -367.56% | -152.46% | 16.77% | 19.30% |
| Cruise Support | -193.69% | -184.21% | -1,135.71% | -460.29% | -200.58% | -229.46% |
| Tour and Other | 4.15% | -34.59% | -145.65% | -26.36% | 14.36% | 9.56% |
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).
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | North America and Australia (NAA) cruise operations | North America and Australia (NAA) cruise operations segment profit margin ratio improved from 2021 to 2022 and from 2022 to 2023. |
| Europe cruise operations | Europe cruise operations segment profit margin ratio improved from 2021 to 2022 and from 2022 to 2023. | |
| Cruise Support | Cruise Support segment profit margin ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. | |
| Tour and Other | Tour and Other segment profit margin ratio improved from 2021 to 2022 and from 2022 to 2023. |
Segment Profit Margin: North America and Australia (NAA) cruise operations
Carnival Corp. & plc; North America and Australia (NAA) cruise operations; segment profit margin calculation
| Nov 30, 2023 | Nov 30, 2022 | Nov 30, 2021 | Nov 30, 2020 | Nov 30, 2019 | Nov 30, 2018 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Operating income (loss) | 1,752) | (2,170) | (3,928) | (5,794) | 2,451) | 2,389) |
| Revenues | 14,588) | 8,281) | 1,108) | 3,627) | 13,612) | 12,236) |
| Segment Profitability Ratio | ||||||
| Segment profit margin1 | 12.01% | -26.20% | -354.51% | -159.75% | 18.01% | 19.52% |
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).
1 2023 Calculation
Segment profit margin = 100 × Operating income (loss) ÷ Revenues
= 100 × 1,752 ÷ 14,588 = 12.01%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | North America and Australia (NAA) cruise operations | North America and Australia (NAA) cruise operations segment profit margin ratio improved from 2021 to 2022 and from 2022 to 2023. |
Segment Profit Margin: Europe cruise operations
Carnival Corp. & plc; Europe cruise operations; segment profit margin calculation
| Nov 30, 2023 | Nov 30, 2022 | Nov 30, 2021 | Nov 30, 2020 | Nov 30, 2019 | Nov 30, 2018 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Operating income (loss) | 593) | (1,830) | (2,617) | (2,729) | 1,115) | 1,205) |
| Revenues | 6,535) | 3,531) | 712) | 1,790) | 6,650) | 6,243) |
| Segment Profitability Ratio | ||||||
| Segment profit margin1 | 9.07% | -51.83% | -367.56% | -152.46% | 16.77% | 19.30% |
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).
1 2023 Calculation
Segment profit margin = 100 × Operating income (loss) ÷ Revenues
= 100 × 593 ÷ 6,535 = 9.07%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Europe cruise operations | Europe cruise operations segment profit margin ratio improved from 2021 to 2022 and from 2022 to 2023. |
Segment Profit Margin: Cruise Support
Carnival Corp. & plc; Cruise Support; segment profit margin calculation
| Nov 30, 2023 | Nov 30, 2022 | Nov 30, 2021 | Nov 30, 2020 | Nov 30, 2019 | Nov 30, 2018 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Operating income (loss) | (399) | (315) | (477) | (313) | (347) | (296) |
| Revenues | 206) | 171) | 42) | 68) | 173) | 129) |
| Segment Profitability Ratio | ||||||
| Segment profit margin1 | -193.69% | -184.21% | -1,135.71% | -460.29% | -200.58% | -229.46% |
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).
1 2023 Calculation
Segment profit margin = 100 × Operating income (loss) ÷ Revenues
= 100 × -399 ÷ 206 = -193.69%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Cruise Support | Cruise Support segment profit margin ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. |
Segment Profit Margin: Tour and Other
Carnival Corp. & plc; Tour and Other; segment profit margin calculation
| Nov 30, 2023 | Nov 30, 2022 | Nov 30, 2021 | Nov 30, 2020 | Nov 30, 2019 | Nov 30, 2018 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Operating income (loss) | 11) | (64) | (67) | (29) | 56) | 26) |
| Revenues | 265) | 185) | 46) | 110) | 390) | 272) |
| Segment Profitability Ratio | ||||||
| Segment profit margin1 | 4.15% | -34.59% | -145.65% | -26.36% | 14.36% | 9.56% |
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).
1 2023 Calculation
Segment profit margin = 100 × Operating income (loss) ÷ Revenues
= 100 × 11 ÷ 265 = 4.15%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Tour and Other | Tour and Other segment profit margin ratio improved from 2021 to 2022 and from 2022 to 2023. |
Segment Return on Assets (Segment ROA)
Carnival Corp. & plc, ROA by reportable segment
| Nov 30, 2023 | Nov 30, 2022 | Nov 30, 2021 | Nov 30, 2020 | Nov 30, 2019 | Nov 30, 2018 | |
|---|---|---|---|---|---|---|
| North America and Australia (NAA) cruise operations | 6.14% | -7.92% | -15.34% | -22.94% | 9.04% | 9.33% |
| Europe cruise operations | 3.59% | -11.95% | -16.27% | -16.53% | 7.21% | 8.72% |
| Cruise Support | -10.88% | -3.72% | -4.33% | -2.81% | -18.65% | -12.85% |
| Tour and Other | 2.88% | -12.50% | -10.52% | -4.17% | 8.99% | 3.94% |
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).
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | North America and Australia (NAA) cruise operations | North America and Australia (NAA) cruise operations segment ROA improved from 2021 to 2022 and from 2022 to 2023. |
| Europe cruise operations | Europe cruise operations segment ROA improved from 2021 to 2022 and from 2022 to 2023. | |
| Cruise Support | Cruise Support segment ROA improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. | |
| Tour and Other | Tour and Other segment ROA deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level. |
Segment ROA: North America and Australia (NAA) cruise operations
Carnival Corp. & plc; North America and Australia (NAA) cruise operations; segment ROA calculation
| Nov 30, 2023 | Nov 30, 2022 | Nov 30, 2021 | Nov 30, 2020 | Nov 30, 2019 | Nov 30, 2018 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Operating income (loss) | 1,752) | (2,170) | (3,928) | (5,794) | 2,451) | 2,389) |
| Total assets | 28,547) | 27,413) | 25,606) | 25,257) | 27,102) | 25,613) |
| Segment Profitability Ratio | ||||||
| Segment ROA1 | 6.14% | -7.92% | -15.34% | -22.94% | 9.04% | 9.33% |
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).
1 2023 Calculation
Segment ROA = 100 × Operating income (loss) ÷ Total assets
= 100 × 1,752 ÷ 28,547 = 6.14%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | North America and Australia (NAA) cruise operations | North America and Australia (NAA) cruise operations segment ROA improved from 2021 to 2022 and from 2022 to 2023. |
Segment ROA: Europe cruise operations
Carnival Corp. & plc; Europe cruise operations; segment ROA calculation
| Nov 30, 2023 | Nov 30, 2022 | Nov 30, 2021 | Nov 30, 2020 | Nov 30, 2019 | Nov 30, 2018 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Operating income (loss) | 593) | (1,830) | (2,617) | (2,729) | 1,115) | 1,205) |
| Total assets | 16,524) | 15,317) | 16,088) | 16,505) | 15,473) | 13,825) |
| Segment Profitability Ratio | ||||||
| Segment ROA1 | 3.59% | -11.95% | -16.27% | -16.53% | 7.21% | 8.72% |
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).
1 2023 Calculation
Segment ROA = 100 × Operating income (loss) ÷ Total assets
= 100 × 593 ÷ 16,524 = 3.59%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Europe cruise operations | Europe cruise operations segment ROA improved from 2021 to 2022 and from 2022 to 2023. |
Segment ROA: Cruise Support
Carnival Corp. & plc; Cruise Support; segment ROA calculation
| Nov 30, 2023 | Nov 30, 2022 | Nov 30, 2021 | Nov 30, 2020 | Nov 30, 2019 | Nov 30, 2018 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Operating income (loss) | (399) | (315) | (477) | (313) | (347) | (296) |
| Total assets | 3,667) | 8,461) | 11,014) | 11,135) | 1,861) | 2,303) |
| Segment Profitability Ratio | ||||||
| Segment ROA1 | -10.88% | -3.72% | -4.33% | -2.81% | -18.65% | -12.85% |
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).
1 2023 Calculation
Segment ROA = 100 × Operating income (loss) ÷ Total assets
= 100 × -399 ÷ 3,667 = -10.88%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Cruise Support | Cruise Support segment ROA improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |
Segment ROA: Tour and Other
Carnival Corp. & plc; Tour and Other; segment ROA calculation
| Nov 30, 2023 | Nov 30, 2022 | Nov 30, 2021 | Nov 30, 2020 | Nov 30, 2019 | Nov 30, 2018 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Operating income (loss) | 11) | (64) | (67) | (29) | 56) | 26) |
| Total assets | 382) | 512) | 637) | 696) | 623) | 660) |
| Segment Profitability Ratio | ||||||
| Segment ROA1 | 2.88% | -12.50% | -10.52% | -4.17% | 8.99% | 3.94% |
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).
1 2023 Calculation
Segment ROA = 100 × Operating income (loss) ÷ Total assets
= 100 × 11 ÷ 382 = 2.88%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Tour and Other | Tour and Other segment ROA deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level. |
Segment Asset Turnover
Carnival Corp. & plc, asset turnover by reportable segment
| Nov 30, 2023 | Nov 30, 2022 | Nov 30, 2021 | Nov 30, 2020 | Nov 30, 2019 | Nov 30, 2018 | |
|---|---|---|---|---|---|---|
| North America and Australia (NAA) cruise operations | 0.51 | 0.30 | 0.04 | 0.14 | 0.50 | 0.48 |
| Europe cruise operations | 0.40 | 0.23 | 0.04 | 0.11 | 0.43 | 0.45 |
| Cruise Support | 0.06 | 0.02 | 0.00 | 0.01 | 0.09 | 0.06 |
| Tour and Other | 0.69 | 0.36 | 0.07 | 0.16 | 0.63 | 0.41 |
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).
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | North America and Australia (NAA) cruise operations | North America and Australia (NAA) cruise operations segment asset turnover ratio improved from 2021 to 2022 and from 2022 to 2023. |
| Europe cruise operations | Europe cruise operations segment asset turnover ratio improved from 2021 to 2022 and from 2022 to 2023. | |
| Cruise Support | Cruise Support segment asset turnover ratio improved from 2021 to 2022 and from 2022 to 2023. | |
| Tour and Other | Tour and Other segment asset turnover ratio improved from 2021 to 2022 and from 2022 to 2023. |
Segment Asset Turnover: North America and Australia (NAA) cruise operations
Carnival Corp. & plc; North America and Australia (NAA) cruise operations; segment asset turnover calculation
| Nov 30, 2023 | Nov 30, 2022 | Nov 30, 2021 | Nov 30, 2020 | Nov 30, 2019 | Nov 30, 2018 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Revenues | 14,588) | 8,281) | 1,108) | 3,627) | 13,612) | 12,236) |
| Total assets | 28,547) | 27,413) | 25,606) | 25,257) | 27,102) | 25,613) |
| Segment Activity Ratio | ||||||
| Segment asset turnover1 | 0.51 | 0.30 | 0.04 | 0.14 | 0.50 | 0.48 |
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).
1 2023 Calculation
Segment asset turnover = Revenues ÷ Total assets
= 14,588 ÷ 28,547 = 0.51
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | North America and Australia (NAA) cruise operations | North America and Australia (NAA) cruise operations segment asset turnover ratio improved from 2021 to 2022 and from 2022 to 2023. |
Segment Asset Turnover: Europe cruise operations
Carnival Corp. & plc; Europe cruise operations; segment asset turnover calculation
| Nov 30, 2023 | Nov 30, 2022 | Nov 30, 2021 | Nov 30, 2020 | Nov 30, 2019 | Nov 30, 2018 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Revenues | 6,535) | 3,531) | 712) | 1,790) | 6,650) | 6,243) |
| Total assets | 16,524) | 15,317) | 16,088) | 16,505) | 15,473) | 13,825) |
| Segment Activity Ratio | ||||||
| Segment asset turnover1 | 0.40 | 0.23 | 0.04 | 0.11 | 0.43 | 0.45 |
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).
1 2023 Calculation
Segment asset turnover = Revenues ÷ Total assets
= 6,535 ÷ 16,524 = 0.40
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Europe cruise operations | Europe cruise operations segment asset turnover ratio improved from 2021 to 2022 and from 2022 to 2023. |
Segment Asset Turnover: Cruise Support
Carnival Corp. & plc; Cruise Support; segment asset turnover calculation
| Nov 30, 2023 | Nov 30, 2022 | Nov 30, 2021 | Nov 30, 2020 | Nov 30, 2019 | Nov 30, 2018 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Revenues | 206) | 171) | 42) | 68) | 173) | 129) |
| Total assets | 3,667) | 8,461) | 11,014) | 11,135) | 1,861) | 2,303) |
| Segment Activity Ratio | ||||||
| Segment asset turnover1 | 0.06 | 0.02 | 0.00 | 0.01 | 0.09 | 0.06 |
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).
1 2023 Calculation
Segment asset turnover = Revenues ÷ Total assets
= 206 ÷ 3,667 = 0.06
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Cruise Support | Cruise Support segment asset turnover ratio improved from 2021 to 2022 and from 2022 to 2023. |
Segment Asset Turnover: Tour and Other
Carnival Corp. & plc; Tour and Other; segment asset turnover calculation
| Nov 30, 2023 | Nov 30, 2022 | Nov 30, 2021 | Nov 30, 2020 | Nov 30, 2019 | Nov 30, 2018 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Revenues | 265) | 185) | 46) | 110) | 390) | 272) |
| Total assets | 382) | 512) | 637) | 696) | 623) | 660) |
| Segment Activity Ratio | ||||||
| Segment asset turnover1 | 0.69 | 0.36 | 0.07 | 0.16 | 0.63 | 0.41 |
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).
1 2023 Calculation
Segment asset turnover = Revenues ÷ Total assets
= 265 ÷ 382 = 0.69
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Tour and Other | Tour and Other segment asset turnover ratio improved from 2021 to 2022 and from 2022 to 2023. |
Segment Capital Expenditures to Depreciation
Carnival Corp. & plc, capital expenditures to depreciation by reportable segment
| Nov 30, 2023 | Nov 30, 2022 | Nov 30, 2021 | Nov 30, 2020 | Nov 30, 2019 | Nov 30, 2018 | |
|---|---|---|---|---|---|---|
| North America and Australia (NAA) cruise operations | 1.29 | 1.82 | 1.77 | 1.01 | 2.04 | 2.07 |
| Europe cruise operations | 1.74 | 3.20 | 0.71 | 3.03 | 3.82 | 1.55 |
| Cruise Support | 0.97 | 1.11 | 5.12 | 1.13 | 1.24 | 0.37 |
| Tour and Other | 0.52 | 0.11 | 1.52 | 0.39 | 1.19 | 3.90 |
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).
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | North America and Australia (NAA) cruise operations | North America and Australia (NAA) cruise operations segment capital expenditures to depreciation ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |
| Europe cruise operations | Europe cruise operations segment capital expenditures to depreciation ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level. | |
| Cruise Support | Cruise Support segment capital expenditures to depreciation ratio deteriorated from 2021 to 2022 and from 2022 to 2023. | |
| Tour and Other | Tour and Other segment capital expenditures to depreciation ratio deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023. |
Segment Capital Expenditures to Depreciation: North America and Australia (NAA) cruise operations
Carnival Corp. & plc; North America and Australia (NAA) cruise operations; segment capital expenditures to depreciation calculation
| Nov 30, 2023 | Nov 30, 2022 | Nov 30, 2021 | Nov 30, 2020 | Nov 30, 2019 | Nov 30, 2018 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Capital expenditures | 1,932) | 2,568) | 2,397) | 1,430) | 2,781) | 2,614) |
| Depreciation and amortization | 1,495) | 1,408) | 1,352) | 1,413) | 1,364) | 1,264) |
| Segment Financial Ratio | ||||||
| Segment capital expenditures to depreciation1 | 1.29 | 1.82 | 1.77 | 1.01 | 2.04 | 2.07 |
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).
1 2023 Calculation
Segment capital expenditures to depreciation = Capital expenditures ÷ Depreciation and amortization
= 1,932 ÷ 1,495 = 1.29
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | North America and Australia (NAA) cruise operations | North America and Australia (NAA) cruise operations segment capital expenditures to depreciation ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |
Segment Capital Expenditures to Depreciation: Europe cruise operations
Carnival Corp. & plc; Europe cruise operations; segment capital expenditures to depreciation calculation
| Nov 30, 2023 | Nov 30, 2022 | Nov 30, 2021 | Nov 30, 2020 | Nov 30, 2019 | Nov 30, 2018 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Capital expenditures | 1,161) | 2,213) | 515) | 2,036) | 2,462) | 945) |
| Depreciation and amortization | 668) | 692) | 728) | 672) | 645) | 611) |
| Segment Financial Ratio | ||||||
| Segment capital expenditures to depreciation1 | 1.74 | 3.20 | 0.71 | 3.03 | 3.82 | 1.55 |
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).
1 2023 Calculation
Segment capital expenditures to depreciation = Capital expenditures ÷ Depreciation and amortization
= 1,161 ÷ 668 = 1.74
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Europe cruise operations | Europe cruise operations segment capital expenditures to depreciation ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level. |
Segment Capital Expenditures to Depreciation: Cruise Support
Carnival Corp. & plc; Cruise Support; segment capital expenditures to depreciation calculation
| Nov 30, 2023 | Nov 30, 2022 | Nov 30, 2021 | Nov 30, 2020 | Nov 30, 2019 | Nov 30, 2018 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Capital expenditures | 179) | 155) | 660) | 144) | 143) | 38) |
| Depreciation and amortization | 184) | 140) | 129) | 128) | 115) | 103) |
| Segment Financial Ratio | ||||||
| Segment capital expenditures to depreciation1 | 0.97 | 1.11 | 5.12 | 1.13 | 1.24 | 0.37 |
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).
1 2023 Calculation
Segment capital expenditures to depreciation = Capital expenditures ÷ Depreciation and amortization
= 179 ÷ 184 = 0.97
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Cruise Support | Cruise Support segment capital expenditures to depreciation ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
Segment Capital Expenditures to Depreciation: Tour and Other
Carnival Corp. & plc; Tour and Other; segment capital expenditures to depreciation calculation
| Nov 30, 2023 | Nov 30, 2022 | Nov 30, 2021 | Nov 30, 2020 | Nov 30, 2019 | Nov 30, 2018 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Capital expenditures | 12) | 4) | 35) | 11) | 43) | 152) |
| Depreciation and amortization | 23) | 36) | 23) | 28) | 36) | 39) |
| Segment Financial Ratio | ||||||
| Segment capital expenditures to depreciation1 | 0.52 | 0.11 | 1.52 | 0.39 | 1.19 | 3.90 |
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).
1 2023 Calculation
Segment capital expenditures to depreciation = Capital expenditures ÷ Depreciation and amortization
= 12 ÷ 23 = 0.52
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Tour and Other | Tour and Other segment capital expenditures to depreciation ratio deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023. |
Revenues
Carnival Corp. & plc, revenues by reportable segment
US$ in millions
| Nov 30, 2023 | Nov 30, 2022 | Nov 30, 2021 | Nov 30, 2020 | Nov 30, 2019 | Nov 30, 2018 | |
|---|---|---|---|---|---|---|
| North America and Australia (NAA) cruise operations | 14,588) | 8,281) | 1,108) | 3,627) | 13,612) | 12,236) |
| Europe cruise operations | 6,535) | 3,531) | 712) | 1,790) | 6,650) | 6,243) |
| Cruise Support | 206) | 171) | 42) | 68) | 173) | 129) |
| Tour and Other | 265) | 185) | 46) | 110) | 390) | 272) |
| Total | 21,594) | 12,168) | 1,908) | 5,595) | 20,825) | 18,880) |
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).
Depreciation and amortization
Carnival Corp. & plc, depreciation and amortization by reportable segment
US$ in millions
| Nov 30, 2023 | Nov 30, 2022 | Nov 30, 2021 | Nov 30, 2020 | Nov 30, 2019 | Nov 30, 2018 | |
|---|---|---|---|---|---|---|
| North America and Australia (NAA) cruise operations | 1,495) | 1,408) | 1,352) | 1,413) | 1,364) | 1,264) |
| Europe cruise operations | 668) | 692) | 728) | 672) | 645) | 611) |
| Cruise Support | 184) | 140) | 129) | 128) | 115) | 103) |
| Tour and Other | 23) | 36) | 23) | 28) | 36) | 39) |
| Total | 2,370) | 2,276) | 2,232) | 2,241) | 2,160) | 2,017) |
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).
Operating income (loss)
Carnival Corp. & plc, operating income (loss) by reportable segment
US$ in millions
| Nov 30, 2023 | Nov 30, 2022 | Nov 30, 2021 | Nov 30, 2020 | Nov 30, 2019 | Nov 30, 2018 | |
|---|---|---|---|---|---|---|
| North America and Australia (NAA) cruise operations | 1,752) | (2,170) | (3,928) | (5,794) | 2,451) | 2,389) |
| Europe cruise operations | 593) | (1,830) | (2,617) | (2,729) | 1,115) | 1,205) |
| Cruise Support | (399) | (315) | (477) | (313) | (347) | (296) |
| Tour and Other | 11) | (64) | (67) | (29) | 56) | 26) |
| Total | 1,957) | (4,379) | (7,089) | (8,865) | 3,275) | 3,324) |
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).
Capital expenditures
Carnival Corp. & plc, capital expenditures by reportable segment
US$ in millions
| Nov 30, 2023 | Nov 30, 2022 | Nov 30, 2021 | Nov 30, 2020 | Nov 30, 2019 | Nov 30, 2018 | |
|---|---|---|---|---|---|---|
| North America and Australia (NAA) cruise operations | 1,932) | 2,568) | 2,397) | 1,430) | 2,781) | 2,614) |
| Europe cruise operations | 1,161) | 2,213) | 515) | 2,036) | 2,462) | 945) |
| Cruise Support | 179) | 155) | 660) | 144) | 143) | 38) |
| Tour and Other | 12) | 4) | 35) | 11) | 43) | 152) |
| Total | 3,284) | 4,940) | 3,607) | 3,621) | 5,429) | 3,749) |
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).
Total assets
Carnival Corp. & plc, total assets by reportable segment
US$ in millions
| Nov 30, 2023 | Nov 30, 2022 | Nov 30, 2021 | Nov 30, 2020 | Nov 30, 2019 | Nov 30, 2018 | |
|---|---|---|---|---|---|---|
| North America and Australia (NAA) cruise operations | 28,547) | 27,413) | 25,606) | 25,257) | 27,102) | 25,613) |
| Europe cruise operations | 16,524) | 15,317) | 16,088) | 16,505) | 15,473) | 13,825) |
| Cruise Support | 3,667) | 8,461) | 11,014) | 11,135) | 1,861) | 2,303) |
| Tour and Other | 382) | 512) | 637) | 696) | 623) | 660) |
| Total | 49,120) | 51,703) | 53,345) | 53,593) | 45,059) | 42,401) |
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).