Analysis of Inventory
Inventory Disclosure
Royal Caribbean Cruises Ltd., balance sheet: inventory
US$ in thousands
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Inventories | 150,224) | 118,703) | 162,107) | 153,573) | 111,393) |
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).
The inventory levels for the period between 2017 and 2021 exhibit a cyclical pattern characterized by initial growth, a sharp contraction, and a subsequent recovery.
- Growth Phase (2017–2019)
- Inventories experienced a consistent upward trend, increasing from 111,393 thousand US$ in 2017 to a peak of 162,107 thousand US$ by the end of 2019. This represents a cumulative increase of approximately 45.5% over two years, indicating an expansion in operational scale or increased stock requirements.
- Contraction Phase (2020)
- A significant reduction in inventory is observed in 2020, where levels fell to 118,703 thousand US$. This decrease of approximately 26.7% from the previous year reflects a sharp decline in held assets, suggesting a reduction in operational activity or a strategic drawdown of stock.
- Recovery Phase (2021)
- By December 31, 2021, inventory levels rebounded to 150,224 thousand US$. This recovery indicates a restoration of stock levels to near pre-2020 benchmarks, signaling a return toward stabilized operational capacity.
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