Carnival Corp. & plc, balance sheet: property, plant and equipment

US$ in millions

	Nov 30, 2023	Nov 30, 2022	Nov 30, 2021	Nov 30, 2020	Nov 30, 2019	Nov 30, 2018
Ships and ship improvements	55,026)	52,908)	50,501)	49,803)	50,446)	46,957)
Ships under construction	1,284)	785)	1,536)	1,354)	2,492)	2,004)
Other property and equipment	4,213)	3,970)	3,928)	3,991)	3,843)	3,661)
Property and equipment, gross	60,523)	57,663)	55,965)	55,148)	56,781)	52,622)
Accumulated depreciation	(20,407)	(18,976)	(17,858)	(17,075)	(18,650)	(17,286)
Property and equipment, net	40,116)	38,687)	38,107)	38,073)	38,131)	35,336)

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Item	Description	The company
Property and equipment, gross	Amount before accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.	Carnival Corp. & plc property and equipment, gross increased from 2021 to 2022 and from 2022 to 2023.
Property and equipment, net	Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.	Carnival Corp. & plc property and equipment, net increased from 2021 to 2022 and from 2022 to 2023.

Carnival Corp. & plc, asset age ratios

		Nov 30, 2023	Nov 30, 2022	Nov 30, 2021	Nov 30, 2020	Nov 30, 2019	Nov 30, 2018
	Average age ratio	33.72%	32.91%	31.91%	30.96%	32.85%	32.85%

Asset age ratio	Description	The company
Average age ratio	As long as straight-line depreciation is used, this is an accurate estimate of asset age as a percentage of depreciable life. The relative age is a useful measure of whether the company fixed asset base is old or new. Newer assets are likely to be more efficient.	Carnival Corp. & plc average age ratio of depreciable property, plant and equipment deteriorated from 2021 to 2022 and from 2022 to 2023.

	Nov 30, 2023	Nov 30, 2022	Nov 30, 2021	Nov 30, 2020	Nov 30, 2019	Nov 30, 2018
Selected Financial Data (US$ in millions)
Accumulated depreciation	20,407)	18,976)	17,858)	17,075)	18,650)	17,286)
Property and equipment, gross	60,523)	57,663)	55,965)	55,148)	56,781)	52,622)
Asset Age Ratio
Average age¹	33.72%	32.91%	31.91%	30.96%	32.85%	32.85%

2023 Calculations

¹ Average age = 100 × Accumulated depreciation ÷ Property and equipment, gross
= 100 × 20,407 ÷ 60,523 = 33.72%

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Asset age ratio	Description	The company
Average age	As long as straight-line depreciation is used, this is an accurate estimate of asset age as a percentage of depreciable life. The relative age is a useful measure of whether the company fixed asset base is old or new. Newer assets are likely to be more efficient.	Carnival Corp. & plc average age ratio of depreciable property, plant and equipment deteriorated from 2021 to 2022 and from 2022 to 2023.

Carnival Corp. & plc (NYSE:CCL)

Analysis of Property, Plant and Equipment