Name: Carnival Corp. & plc (NYSE:CCL) | Balance Sheet: Assets
Creator: Stock Analysis on Net

Balance Sheet: Assets

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

Assets: Selected Items

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Current Assets: Selected Items

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Carnival Corp. & plc, consolidated balance sheet: assets

US$ in millions

	Nov 30, 2023	Nov 30, 2022	Nov 30, 2021	Nov 30, 2020	Nov 30, 2019	Nov 30, 2018
Cash and cash equivalents	2,415)	4,029)	8,939)	9,513)	518)	982)
Restricted cash	11)	1,988)	14)	—)	—)	—)
Short-term investments	—)	—)	200)	—)	—)	—)
Trade and other receivables, net	556)	395)	246)	273)	444)	358)
Inventories	528)	428)	356)	335)	427)	450)
Prepaid expenses and other	1,756)	652)	378)	442)	670)	435)
Current assets	5,266)	7,492)	10,133)	10,563)	2,059)	2,225)
Property and equipment, net	40,116)	38,687)	38,107)	38,073)	38,131)	35,336)
Operating lease right-of-use assets, net	1,265)	1,274)	1,333)	1,370)	—)	—)
Goodwill	579)	579)	579)	807)	2,912)	2,925)
Other intangibles	1,169)	1,156)	1,181)	1,186)	1,174)	1,176)
Other assets	725)	2,515)	2,011)	1,594)	782)	739)
Long-term assets	43,854)	44,211)	43,211)	43,030)	42,999)	40,176)
Total assets	49,120)	51,703)	53,344)	53,593)	45,058)	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).

The overall asset trajectory for the period between 2018 and 2023 is characterized by a significant expansion peaking in 2020, followed by a gradual contraction. Total assets rose from 42,401 million US dollars in 2018 to a peak of 53,593 million US dollars in 2020, before declining to 49,120 million US dollars by 2023.

Liquidity and Current Asset Volatility: A substantial surge in cash and cash equivalents is observed in 2020, where balances rose to 9,513 million US dollars from 518 million US dollars in 2019. This liquidity peak drove current assets to their highest level of 10,563 million US dollars in 2020. Subsequently, cash reserves entered a steady decline, falling to 2,415 million US dollars by 2023. A notable increase in prepaid expenses and other assets occurred in 2023, reaching 1,756 million US dollars, the highest value in the analyzed period.
Fixed Asset Growth and Capital Investment: Property and equipment, net, demonstrate a consistent upward trend, increasing from 35,336 million US dollars in 2018 to 40,116 million US dollars in 2023. This represents a steady growth in the company's core physical infrastructure despite the volatility seen in short-term liquidity. Operating lease right-of-use assets remained relatively stable from their appearance in 2020 at 1,370 million US dollars to 1,265 million US dollars in 2023.
Intangible Asset Impairment: A significant reduction in goodwill is evident between 2019 and 2020, where the value dropped from 2,912 million US dollars to 807 million US dollars. This indicates a substantial impairment charge during that fiscal year. Following this adjustment, goodwill remained stagnant at 579 million US dollars from 2021 through 2023. Other intangibles remained remarkably stable, fluctuating minimally around the 1.1 billion US dollar mark throughout the six-year period.
Long-Term Asset Composition: Long-term assets expanded from 40,176 million US dollars in 2018 to a peak of 44,211 million US dollars in 2022. The growth was primarily driven by the increase in property and equipment and a rise in other assets, which climbed from 739 million US dollars in 2018 to a peak of 2,515 million US dollars in 2022 before dropping sharply to 725 million US dollars in 2023.

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