Income Statement

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Royal Caribbean Cruises Ltd., consolidated income statement

US$ in thousands

12 months ended:	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
Passenger ticket revenues	941,175)	1,504,569)	7,857,057)	6,792,716)	6,313,170)
Onboard and other revenues	590,958)	704,236)	3,093,604)	2,701,133)	2,464,675)
Revenues	1,532,133)	2,208,805)	10,950,661)	9,493,849)	8,777,845)
Commissions, transportation and other	(207,562)	(344,625)	(1,656,297)	(1,433,739)	(1,363,170)
Onboard and other	(116,946)	(157,213)	(639,782)	(537,355)	(495,552)
Payroll and related	(838,088)	(788,273)	(1,079,121)	(924,985)	(852,990)
Food	(164,389)	(161,750)	(583,905)	(520,909)	(492,857)
Fuel	(385,322)	(371,015)	(697,962)	(710,617)	(681,118)
Other operating	(945,205)	(942,232)	(1,405,698)	(1,134,602)	(1,010,892)
Cruise operating expenses	(2,657,512)	(2,765,108)	(6,062,765)	(5,262,207)	(4,896,579)
Gross profit (loss)	(1,125,379)	(556,303)	4,887,896)	4,231,642)	3,881,266)
Marketing, selling and administrative expenses	(1,370,076)	(1,199,620)	(1,559,253)	(1,303,144)	(1,186,016)
Depreciation and amortization expenses	(1,292,878)	(1,279,254)	(1,245,942)	(1,033,697)	(951,194)
Impairment and credit losses	(82,001)	(1,566,380)	—)	—)	—)
Operating income (loss)	(3,870,334)	(4,601,557)	2,082,701)	1,894,801)	1,744,056)
Interest income	16,773)	21,036)	26,945)	32,800)	30,101)
Interest expense, net of interest capitalized	(1,291,753)	(844,238)	(408,513)	(333,672)	(299,982)
Equity investment income (loss)	(135,469)	(213,286)	230,980)	210,756)	156,247)
Other income (expense)	(24,916)	(152,085)	8,087)	32,007)	13,011)
Other income (expense)	(1,435,365)	(1,188,573)	(142,501)	(58,109)	(100,623)
Income (loss) before income taxes	(5,305,699)	(5,790,130)	1,940,200)	1,836,692)	1,643,433)
Income tax (expense) benefit	45,200)	15,000)	(32,600)	(20,900)	(18,300)
Net income (loss)	(5,260,499)	(5,775,130)	1,907,600)	1,815,792)	1,625,133)
Net income attributable to noncontrolling interest	—)	(22,332)	(28,713)	(4,750)	—)
Net income (loss) attributable to Royal Caribbean Cruises Ltd.	(5,260,499)	(5,797,462)	1,878,887)	1,811,042)	1,625,133)

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

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Income statement item	Description	The company
Revenues	Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.	Royal Caribbean Cruises Ltd. revenues decreased from 2019 to 2020 and from 2020 to 2021.
Operating income (loss)	The net result for the period of deducting operating expenses from operating revenues.	Royal Caribbean Cruises Ltd. operating income (loss) decreased from 2019 to 2020 but then slightly increased from 2020 to 2021.
Income (loss) before income taxes	Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.	Royal Caribbean Cruises Ltd. income (loss) before income taxes decreased from 2019 to 2020 but then slightly increased from 2020 to 2021.
Net income (loss) attributable to Royal Caribbean Cruises Ltd.	The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.	Royal Caribbean Cruises Ltd. net income (loss) attributable to Royal Caribbean Cruises Ltd. decreased from 2019 to 2020 but then slightly increased from 2020 to 2021.

Royal Caribbean Cruises Ltd. (NYSE:RCL)

Income Statement