Stock Analysis on Net
Stock Analysis on Net

Royal Caribbean Cruises Ltd. (NYSE:RCL)

$22.49

This company has been moved to the archive! The financial data has not been updated since July 29, 2022.

Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data

Paying user area

Try for free

Royal Caribbean Cruises Ltd. pages available for free this week:

The data is hidden behind: . Unhide it.

Get access

This is a one-time payment. There is no automatic renewal.

We accept:

Visa Mastercard American Express Maestro Discover JCB PayPal Google Pay
Visa Secure Mastercard Identity Check American Express SafeKey

Royal Caribbean Cruises Ltd., common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

Microsoft Excel
Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017
Current portion of long-term debt
Commercial paper
Current portion of operating lease liabilities
Accounts payable
Accrued interest
Accrued expenses and other liabilities
Derivative financial instruments
Customer deposits
Current liabilities
Long-term debt, excluding current portion
Long-term operating lease liabilities
Other long-term liabilities
Long-term liabilities
Total liabilities
Redeemable noncontrolling interest
Preferred stock, $0.01 par value; none outstanding
Common stock, $0.01 par value
Paid-in capital
Retained earnings (accumulated deficit)
Accumulated other comprehensive loss
Treasury stock, common shares at cost
Shareholders’ equity
Total liabilities and shareholders’ equity

Based on: 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).

The financial data reveals several notable trends in the company’s liabilities and shareholders’ equity composition over the periods analyzed.

Current Portion of Long-Term Debt
This metric generally declined from early 2017 through 2021, reaching a low point in the first quarter of 2021 at 0.64% of total liabilities and shareholders’ equity. However, it experienced a sharp increase to 16.1% by the second quarter of 2022, indicating a significant shift towards nearer-term debt obligations during that recent period.
Commercial Paper
Commercial paper as a percentage was only recorded from late 2017 through quarter two of 2020. The values fluctuated between 1.03% and 4.73%, peaking in the first half of 2020 before becoming unreported afterwards, suggesting its use was phased out or replaced by other financing sources.
Current Portion of Operating Lease Liabilities
This liability component remained relatively stable over its observation period, maintaining a range close to 0.2%–0.3%, reflecting minor fluctuations in operating lease commitments due within one year.
Accounts Payable
Accounts payable showed moderate variability, starting at 1.65% in Q1 2017, with a peak above 4% in early 2020 followed by a decline, then gradually increasing again toward mid-2022. This pattern may reflect changes in supplier payment cycles and working capital management.
Accrued Interest and Accrued Expenses
Accrued interest as a share of total liabilities grew steadily after 2019, particularly through 2020 and 2021, rising from around 0.3% to near 0.9% by mid-2022, indicating increased interest obligations. Accrued expenses decreased in 2020 but showed recovery trends into 2022, suggesting changes in expense recognition or timing over the periods.
Derivative Financial Instruments
The exposure to derivative financial instruments has generally remained low, with slightly higher values observed during early 2020 and a modest rise towards late 2021, before stabilizing.
Customer Deposits
Customer deposits represent a significant and fluctuating component, initially rising from about 10% in early 2017 to a peak near 13% in 2019. This was followed by a sharp decline in 2020, dropping as low as 5.42%, but a recovery trend is evident through 2022, suggesting shifts in advance bookings and deposit management.
Current and Long-Term Liabilities
Current liabilities increased substantially in the latest quarter, reaching 34.53% of total liabilities and shareholders’ equity in Q2 2022, up from lower levels mid-2020. Long-term liabilities saw a pronounced increase from early 2020 through 2021, peaking near 64% in late 2021 before receding somewhat by mid-2022. This suggests greater reliance on long-term debt during the crisis periods, possibly to support liquidity.
Long-Term Debt
This component rose sharply starting in 2020, with a rise from approximately 37% to over 60% by early 2021, staying elevated but dipping slightly by mid-2022. This increase aligns with a higher leverage position and debt-financed capital structure adjustments.
Shareholders’ Equity
Shareholders’ equity as a proportion has declined dramatically from nearly 48% in late 2017 to around 10% by mid-2022. The retained earnings specifically show a notable decrease from positive territory (above 36%) in 2017 to a negative position (approximately -3.65%) by the second quarter of 2022, indicating accumulated losses or distributions surpassing profits during the analysis period.
Paid-in Capital and Treasury Stock
Paid-in capital fluctuated but showed an overall increasing trend after mid-2020, rising from around 10% to over 23% by late 2021, before slightly decreasing. Treasury stock values remained steady in a range between -5% and -7% throughout the timeline, indicating consistent share repurchase activity.
Accumulated Other Comprehensive Loss
This item remained negative across all periods, fluctuating modestly within a narrow band between approximately -4% and -1.5%, reflecting ongoing unrealized losses in other comprehensive income components.
Total Liabilities and Shareholders’ Equity
By definition, this remained constant at 100% throughout all periods.

In summary, the data reflects a period of increased leveraging beginning in 2020, with a shift toward higher current liabilities and long-term debt components, paralleled by a marked decrease in shareholders’ equity and retained earnings. The substantial uptick in current portion of long-term debt and current liabilities by mid-2022 suggests an increasing share of near-term debt obligations. Recoveries in customer deposits toward the latter periods indicate improving customer engagement or operational normalization after notable declines in 2020. The stability in certain liabilities such as accrued interest and lease liabilities provides balance to the overall financial structure. The overall trends suggest strategic financing adjustments and pressures on profitability over the period examined.