Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data
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.
Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.
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Carnival Corp. & plc, consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)
US$ in millions
Based on: 10-Q (reporting date: 2024-02-29), 10-K (reporting date: 2023-11-30), 10-Q (reporting date: 2023-08-31), 10-Q (reporting date: 2023-05-31), 10-Q (reporting date: 2023-02-28), 10-K (reporting date: 2022-11-30), 10-Q (reporting date: 2022-08-31), 10-Q (reporting date: 2022-05-31), 10-Q (reporting date: 2022-02-28), 10-K (reporting date: 2021-11-30), 10-Q (reporting date: 2021-08-31), 10-Q (reporting date: 2021-05-31), 10-Q (reporting date: 2021-02-28), 10-K (reporting date: 2020-11-30), 10-Q (reporting date: 2020-08-31), 10-Q (reporting date: 2020-05-31), 10-Q (reporting date: 2020-02-29), 10-K (reporting date: 2019-11-30), 10-Q (reporting date: 2019-08-31), 10-Q (reporting date: 2019-05-31), 10-Q (reporting date: 2019-02-28), 10-K (reporting date: 2018-11-30), 10-Q (reporting date: 2018-08-31), 10-Q (reporting date: 2018-05-31), 10-Q (reporting date: 2018-02-28).
- Short-term borrowings
- There was a general decline from February 2018 through November 2019, followed by a sharp increase reaching a peak in May 2020. After this peak, the amount gradually decreased into 2023, dropping significantly by early 2024 to notably low levels compared to prior years.
- Current portion of long-term debt
- This liability showed fluctuations with moderate increases over time, culminating in a peak during mid-2022, before trending downward again towards early 2024. It remained substantial relative to other current liabilities.
- Current portion of operating lease liabilities
- Data from 2020 onwards reveals relatively stable values around the 140 to 160 million US dollars range, indicating consistency in short-term lease obligations during the later periods.
- Accounts payable
- There was moderate fluctuation with a spike in May 2020, followed by a reduction and then a gradual increase from early 2022 to early 2024, indicating varying payment cycles or supplier dealings throughout the periods.
- Accrued liabilities and other
- The balance declined significantly from February 2018 to November 2020, and then steadily increased from early 2021 onwards, reaching the highest levels in recent quarters, possibly reflecting changing operational or accrued expenses.
- Customer deposits
- This liability showed large variability, with peaks in May 2019 and subsequent sharp declines in the following periods. From early 2021, there was a consistent upward trend reaching the highest levels by early 2024, possibly indicating increased advance bookings or improved customer confidence.
- Current liabilities
- Current liabilities rose steadily up to May 2020, reaching a peak, followed by a decline towards the end of 2020. From early 2021, these liabilities fluctuated somewhat but remained elevated compared to earlier periods, showing general growth in short-term obligations.
- Long-term debt, excluding current portion
- This liability showed a rising trend throughout the data, with a sharp increase from early 2020, peaking in February 2023, before declining slightly by February 2024. The increasing debt levels suggest significant long-term financing was pursued over the timeline.
- Long-term operating lease liabilities
- Data available from May 2019 indicate a gradual decline in these liabilities through late 2023, reflecting a possible reduction in long-term lease commitments or lease restructuring.
- Other long-term liabilities
- Values remained relatively stable across all periods, with minor fluctuations but no clear long-term trend, suggesting consistent other obligations.
- Long-term liabilities
- This aggregate liability mirrored the growth in long-term debt and operating leases, exhibiting a strong upward trend from 2018 through early 2023 with minor declines thereafter.
- Total liabilities
- Total liabilities increased consistently from 2018 through 2022, reaching the highest levels in the early 2020s. This trend reflects general increases in both short- and long-term obligations, with a slight decrease observed in the latest quarters.
- Common and ordinary shares
- Common stock for Carnival Corporation remained stable with minor increases from late 2019 onwards. Similarly, Carnival plc's ordinary shares showed minimal changes, indicating limited changes in share capital.
- Additional paid-in capital
- Additional paid-in capital steadily increased over the entire period, with a notable acceleration starting from early 2020, indicating ongoing capital infusions or equity raises during this time.
- Retained earnings (accumulated deficit)
- A strong downward trend is visible starting from early 2020, with retained earnings shifting from positive balances to accumulative deficits by 2023. This reflects operational losses or substantial charges during this period.
- Accumulated other comprehensive loss (AOCI)
- AOCI consistently showed negative values with gradual increases in losses over time, signaling unfavorable comprehensive income elements impacting shareholders' equity.
- Treasury stock, at cost
- Treasury stock holdings increased from 2018 and stabilized around late 2019, showing no significant changes thereafter, indicating sustained repurchase levels.
- Shareholders’ equity
- There was a general decline in shareholders’ equity starting in early 2020, corresponding to accumulated deficits and rising liabilities, with slight modest increases in certain periods but overall downward movement reflecting diminishing net asset value.
- Total liabilities and shareholders’ equity
- The total of liabilities and equity grew steadily through 2020, peaking near 2021, before stabilizing and decreasing slightly by early 2024. This indicates overall balance sheet growth with recent contraction.