Royal Caribbean Cruises Ltd., adjusted current assets

US$ in thousands

	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
As Reported
Current assets	3,600,271)	4,311,747)	1,162,628)	1,242,044)	843,028)
Adjustments
Add: Credit loss allowance	13,411)	3,867)	—)	—)	—)
After Adjustment
Adjusted current assets	3,613,682)	4,315,614)	1,162,628)	1,242,044)	843,028)

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Royal Caribbean Cruises Ltd., adjusted total assets

US$ in thousands

	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
As Reported
Total assets	32,258,355)	32,465,187)	30,320,284)	27,698,270)	22,296,317)
Adjustments
Add: Operating lease right-of-use asset (before adoption of FASB Topic 842)¹	—)	—)	—)	527,340)	176,834)
Add: Credit loss allowance	13,411)	3,867)	—)	—)	—)
Less: Noncurrent deferred tax assets, net²	—)	—)	—)	—)	—)
After Adjustment
Adjusted total assets	32,271,766)	32,469,054)	30,320,284)	28,225,610)	22,473,151)

¹ Operating lease right-of-use asset (before adoption of FASB Topic 842). See details »

² Noncurrent deferred tax assets, net. See details »

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Royal Caribbean Cruises Ltd., adjusted total liabilities

US$ in thousands

	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
As Reported
Total liabilities	27,172,799)	23,704,518)	17,586,457)	16,050,789)	11,594,014)
Adjustments
Add: Operating lease liability (before adoption of FASB Topic 842)¹	—)	—)	—)	527,340)	176,834)
Less: Noncurrent deferred tax liabilities²	—)	—)	—)	—)	—)
Less: Restructuring	313)	13,804)	11,512)	—)	—)
After Adjustment
Adjusted total liabilities	27,172,486)	23,690,714)	17,574,945)	16,578,129)	11,770,848)

¹ Operating lease liability (before adoption of FASB Topic 842). See details »

² Noncurrent deferred tax liabilities. See details »

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Royal Caribbean Cruises Ltd., adjusted shareholders’ equity

US$ in thousands

	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
As Reported
Shareholders’ equity	5,085,556)	8,760,669)	12,163,846)	11,105,461)	10,702,303)
Adjustments
Less: Net deferred tax assets (liabilities)¹	—)	—)	—)	—)	—)
Add: Credit loss allowance	13,411)	3,867)	—)	—)	—)
Add: Restructuring	313)	13,804)	11,512)	—)	—)
Add: Redeemable noncontrolling interest	—)	—)	569,981)	542,020)	—)
After Adjustment
Adjusted shareholders’ equity	5,099,280)	8,778,340)	12,745,339)	11,647,481)	10,702,303)

¹ Net deferred tax assets (liabilities). See details »

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Royal Caribbean Cruises Ltd., adjusted capitalization table

US$ in thousands

	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
As Reported
Current portion of long-term debt	2,243,131)	961,768)	1,186,586)	1,646,841)	1,188,514)
Commercial paper	—)	409,319)	1,434,180)	775,488)	—)
Long-term debt, excluding current portion	18,847,209)	17,957,956)	8,414,110)	8,355,370)	6,350,937)
Total reported debt	21,090,340)	19,329,043)	11,034,876)	10,777,699)	7,539,451)
Shareholders’ equity	5,085,556)	8,760,669)	12,163,846)	11,105,461)	10,702,303)
Total reported capital	26,175,896)	28,089,712)	23,198,722)	21,883,160)	18,241,754)
Adjustments to Debt
Add: Operating lease liability (before adoption of FASB Topic 842)¹	—)	—)	—)	527,340)	176,834)
Add: Current portion of operating lease liabilities²	68,922)	102,677)	96,976)	—)	—)
Add: Long-term operating lease liabilities³	534,726)	563,876)	601,641)	—)	—)
Adjusted total debt	21,693,988)	19,995,596)	11,733,493)	11,305,039)	7,716,285)
Adjustments to Equity
Less: Net deferred tax assets (liabilities)⁴	—)	—)	—)	—)	—)
Add: Credit loss allowance	13,411)	3,867)	—)	—)	—)
Add: Restructuring	313)	13,804)	11,512)	—)	—)
Add: Redeemable noncontrolling interest	—)	—)	569,981)	542,020)	—)
Adjusted shareholders’ equity	5,099,280)	8,778,340)	12,745,339)	11,647,481)	10,702,303)
After Adjustment
Adjusted total capital	26,793,268)	28,773,936)	24,478,832)	22,952,520)	18,418,588)

¹ Operating lease liability (before adoption of FASB Topic 842). See details »

² Current portion of operating lease liabilities. See details »

³ Long-term operating lease liabilities. See details »

⁴ Net deferred tax assets (liabilities). See details »

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Royal Caribbean Cruises Ltd., adjusted net income (loss) attributable to Royal Caribbean Cruises Ltd.

US$ in thousands

12 months ended:	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
As Reported
Net income (loss) attributable to Royal Caribbean Cruises Ltd.	(5,260,499)	(5,797,462)	1,878,887)	1,811,042)	1,625,133)
Adjustments
Add: Deferred income tax expense (benefit)¹	—)	—)	—)	—)	—)
Add: Increase (decrease) in credit loss allowance	9,544)	(1,768)	—)	—)	—)
Add: Increase (decrease) in restructuring	(13,491)	2,292)	11,512)	—)	—)
Add: Other comprehensive income (loss)	28,456)	58,372)	(169,979)	(293,469)	582,219)
Add: Comprehensive income (loss), net of tax, attributable to noncontrolling interest	—)	22,332)	28,713)	4,750)	—)
After Adjustment
Adjusted net income (loss)	(5,235,990)	(5,716,234)	1,749,133)	1,522,323)	2,207,352)

¹ Deferred income tax expense (benefit). See details »

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Royal Caribbean Cruises Ltd. (NYSE:RCL)

Adjustments to Financial Statements