Stock Analysis on Net

Carnival Corp. & plc (NYSE:CCL)

Cash Flow Statement

The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.

The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.

Carnival Corp. & plc, consolidated cash flow statement

US$ in millions

Microsoft Excel
12 months ended: Nov 30, 2023 Nov 30, 2022 Nov 30, 2021 Nov 30, 2020 Nov 30, 2019 Nov 30, 2018
Net income (loss) (74) (6,093) (9,501) (10,236) 2,990 3,152
Depreciation and amortization 2,370 2,275 2,233 2,241 2,160 2,017
Impairments 21 470 834 4,063 26 16
Gains on fuel derivatives, net (59)
Loss on debt extinguishment 98 1 668 459
(Income) loss from equity-method investments 13 38 129 20 (15)
Share-based compensation 53 101 121 105 46 65
Amortization of discounts and debt issue costs 161 171 172 119 22
Noncash lease expense 145 148 140 172
Gain on sales of ships (88) (7) (11)
Other 57 63 148 (58) 34 (6)
Receivables (180) (171) (7) 125 (114) (58)
Inventories (85) (95) (63) 77 79 (67)
Prepaid expenses and other assets 397 (874) (1,070) (209) (254) 74
Accounts payable 77 283 206 (165) 34 (24)
Accrued liabilities and other 147 341 601 (311) 80 (100)
Customer deposits 1,169 1,679 1,291 (2,703) 387 539
Changes in operating assets and liabilities 1,525 1,163 958 (3,186) 212 364
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities 4,355 4,423 5,392 3,935 2,485 2,397
Net cash provided by (used in) operating activities 4,281 (1,670) (4,109) (6,301) 5,475 5,549
Purchases of property and equipment (3,284) (4,940) (3,607) (3,620) (5,429) (3,749)
Proceeds from sales of ships and other property and equipment 340 70 351 334 26 389
Purchase of minority interest (1) (90) (81)
Purchase of short-term investments (315) (2,873)
Proceeds from maturity of short-term investments 515 2,673
Other, net 134 (96) 3 127 126 (142)
Net cash used in investing activities (2,810) (4,767) (3,543) (3,240) (5,277) (3,502)
Proceeds from (repayments of) short-term borrowings, net (200) (2,590) (293) 2,852 (605) 417
Principal repayments of long-term debt (7,660) (2,075) (5,956) (1,621) (1,651) (1,556)
Debt issuance costs (131) (153) (319)
Debt extinguishment costs (79) (1) (545)
Proceeds from issuance of long-term debt 2,961 7,209 13,042 15,020 3,674 2,542
Dividends paid (689) (1,387) (1,355)
Purchases of common stock (12) (603) (1,468)
Proceeds from issuance of common stock 5 1,180 1,009 3,249 4 3
Proceeds from issuance of common stock under the Stock Swap Program 22 95 206
Purchase of treasury stock under the Stock Swap Program (20) (87) (188)
Other 13 (1) (7) (149) (87) (43)
Net cash provided by (used in) financing activities (5,089) 3,577 6,949 18,650 (655) (1,460)
Effect of exchange rate changes on cash, cash equivalents and restricted cash 17 (80) (13) 53 (9)
Net increase (decrease) in cash, cash equivalents and restricted cash (3,601) (2,940) (716) 9,162 (466) 587
Cash, cash equivalents and restricted cash at beginning of year 6,037 8,977 9,692 530 996 395
Cash, cash equivalents and restricted cash at end of year 2,436 6,037 8,976 9,692 530 982

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).

Cash flow statement item Description The company
Net cash provided by (used in) operating activities Amount of cash inflow (outflow) from operating activities, excluding discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. Carnival Corp. & plc net cash provided by (used in) operating activities increased from 2021 to 2022 and from 2022 to 2023.
Net cash used in investing activities Amount of cash inflow (outflow) of investing activities, excluding discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets. Carnival Corp. & plc net cash used in investing activities decreased from 2021 to 2022 but then increased from 2022 to 2023 exceeding 2021 level.
Net cash provided by (used in) financing activities Amount of cash inflow (outflow) of financing activities, excluding discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit. Carnival Corp. & plc net cash provided by (used in) financing activities decreased from 2021 to 2022 and from 2022 to 2023.