Balance Sheet: Assets
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.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

Royal Caribbean Cruises Ltd., consolidated balance sheet: assets (quarterly data)

US$ in thousands

	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
Cash and cash equivalents	2,102,205)	1,968,504)	2,701,770)	3,289,326)	4,250,369)	5,091,463)	3,684,474)	3,016,788)	4,146,691)	3,890,811)	243,738)	276,730)	235,001)	248,197)	287,852)	254,821)	108,998)	111,245)	120,112)	139,950)	130,477)	109,309)
Trade and other receivables, net of allowances	565,014)	506,160)	408,067)	397,232)	345,055)	226,740)	284,149)	165,225)	205,921)	220,876)	305,821)	348,991)	340,921)	374,982)	324,507)	385,297)	355,729)	387,862)	318,641)	285,332)	263,992)	292,975)
Inventories	229,108)	179,466)	150,224)	142,408)	132,888)	119,405)	118,703)	142,432)	152,596)	177,705)	162,107)	167,213)	168,009)	157,939)	153,573)	152,157)	121,879)	110,826)	111,393)	119,949)	109,136)	108,427)
Prepaid expenses and other assets	492,285)	344,648)	286,026)	268,008)	224,688)	163,709)	154,339)	197,195)	178,364)	304,809)	429,211)	399,390)	500,477)	491,553)	456,547)	459,792)	418,817)	350,653)	193,562)	200,125)	264,036)	245,978)
Derivative financial instruments	172,276)	178,161)	54,184)	70,407)	56,230)	48,652)	70,082)	10,155)	868)	—)	21,751)	11,633)	38,559)	60,451)	19,565)	106,933)	94,473)	73,940)	99,320)	52,796)	—)	—)
Current assets	3,560,888)	3,176,939)	3,600,271)	4,167,381)	5,009,230)	5,649,969)	4,311,747)	3,531,795)	4,684,440)	4,594,201)	1,162,628)	1,203,957)	1,282,967)	1,333,122)	1,242,044)	1,359,000)	1,099,896)	1,034,526)	843,028)	798,152)	767,641)	756,689)
Property and equipment, net	27,556,323)	26,940,867)	25,907,949)	25,699,712)	25,872,907)	25,794,798)	25,246,595)	25,362,549)	25,647,715)	25,857,215)	25,466,808)	25,005,404)	24,855,174)	23,641,251)	23,466,163)	22,599,589)	21,429,719)	21,207,786)	19,735,180)	19,688,872)	19,798,542)	19,860,696)
Operating lease right-of-use assets	569,561)	535,532)	542,128)	560,224)	559,508)	579,541)	599,985)	584,477)	609,422)	619,439)	687,555)	697,461)	720,854)	777,551)	—)	—)	—)	—)	—)	—)	—)	—)
Goodwill	809,298)	809,435)	809,383)	809,373)	809,435)	809,459)	809,480)	809,471)	809,384)	809,216)	1,385,644)	1,373,065)	1,373,124)	1,378,362)	1,378,353)	1,374,923)	288,418)	288,479)	288,512)	288,517)	288,479)	288,470)
Other assets, net of allowances	1,447,175)	1,477,225)	1,398,624)	1,428,876)	1,440,882)	1,513,306)	1,497,380)	1,540,518)	1,555,582)	1,564,982)	1,617,649)	1,545,574)	1,576,843)	1,589,763)	1,611,710)	1,760,028)	1,239,003)	1,440,181)	1,429,597)	1,323,773)	1,169,506)	1,111,402)
Non-current assets	30,382,357)	29,763,059)	28,658,084)	28,498,185)	28,682,732)	28,697,104)	28,153,440)	28,297,015)	28,622,103)	28,850,852)	29,157,656)	28,621,504)	28,525,995)	27,386,927)	26,456,226)	25,734,540)	22,957,140)	22,936,446)	21,453,289)	21,301,162)	21,256,527)	21,260,568)
Total assets	33,943,245)	32,939,998)	32,258,355)	32,665,566)	33,691,962)	34,347,073)	32,465,187)	31,828,810)	33,306,543)	33,445,053)	30,320,284)	29,825,461)	29,808,962)	28,720,049)	27,698,270)	27,093,540)	24,057,036)	23,970,972)	22,296,317)	22,099,314)	22,024,168)	22,017,257)

The analysis of the quarterly financial data reveals several noteworthy trends in the company's asset accounts over the examined periods.

Cash and Cash Equivalents: Cash levels exhibit significant fluctuations, with a notable spike beginning in the first quarter of 2020, peaking at over 4 million thousand US dollars in mid-2020 and early 2021. This sharp increase corresponds with a period of global economic uncertainty, followed by a gradual decline through 2021 and into 2022, though cash still remains elevated relative to pre-2020 levels.
Trade and Other Receivables, Net of Allowances: Receivables showed steady growth from 2017 through early 2019, peaking near 400 million US dollars by the first quarter of 2019. However, a decline occurred throughout 2020, reaching a low point in the third quarter of 2020. Recovery began in late 2020 and continued strongly into 2022, surpassing previous peak values by mid-2022.
Inventories: Inventories generally increased over time, rising from approximately 108 million US dollars in early 2017 to over 229 million by mid-2022. Minor dips appear in the 2020 quarters but the overall trend is upward, indicating growing stock levels despite periods of volatility.
Prepaid Expenses and Other Assets: This category saw growth up to 2019, peaking near 500 million US dollars, but exhibited a sharp reduction in 2020, dropping to around 154 million in the fourth quarter. Starting in 2021, prepaid expenses and other assets steadily increased, reaching a new high of nearly 492 million by mid-2022.
Derivative Financial Instruments: Data for derivatives became available only from the third quarter of 2017. The amounts show very volatile behavior with several peaks and troughs, particularly large spikes in 2018 and late 2021 through 2022, suggestive of active hedging or financial risk management during these periods.
Current Assets: Overall current assets indicate growth, jumping significantly in the early 2020 period to over 4.5 billion US dollars, before tapering down through 2021. The temporary surge aligns with the increase in cash and likely strategic liquidity management during uncertain market conditions.
Property and Equipment, Net: The net value of property and equipment steadily increased from approximately 19.86 billion US dollars in early 2017 to over 27.5 billion by mid-2022, highlighting ongoing investment or asset acquisition. There are minor periods of decrease, particularly during 2020, which could be related to depreciation or asset disposals.
Operating Lease Right-of-Use Assets: Introduced data appears from late 2018, showing a declining trend in these asset values, decreasing from about 778 million in 2018 to approximately 570 million by mid-2022. This decline indicates either lease terminations, expirations or reclassifications.
Goodwill: Goodwill remains relatively stable except for a large increase during 2018, more than quadrupling to around 1.38 billion and stabilizing near 800 million in subsequent periods. This is indicative of acquisition activity or impairment adjustments influencing the goodwill balance.
Other Assets, Net of Allowances: Other assets show moderate fluctuations with a general peak around 1.6 billion in 2018-2019, followed by a gradual decline to about 1.44 billion by mid-2022, implying minor disposals or impairments over time.
Non-current Assets: Non-current assets consistently increased, climbing from approximately 21.26 billion US dollars in early 2017 to over 30.3 billion in mid-2022. This steady growth suggests ongoing capital investments and asset acquisitions despite some volatility in 2020.
Total Assets: Total assets rose progressively from about 22 billion in early 2017 to over 33.9 billion by mid-2022. A notable surge occurs in early 2020, corresponding primarily to increases in cash and current assets, after which total assets slightly fluctuated but maintained an upward trajectory.

In summary, the data reflects substantial liquidity accumulation in early 2020, likely a response to economic disruptions. Fixed assets and goodwill increased over the years, underscoring investment and acquisition activity. Current assets and receivables show cyclical patterns influenced by operational changes, while operating lease assets decreased steadily. The overall asset base expanded notably, indicating growth and asset reinvestment efforts despite episodic volatility.

Royal Caribbean Cruises Ltd. (NYSE:RCL)

Balance Sheet: Assets
Quarterly Data

Assets: Selected Items

Current Assets: Selected Items

Royal Caribbean Cruises Ltd. (NYSE:RCL)

Balance Sheet: AssetsQuarterly Data

Assets: Selected Items

Current Assets: Selected Items

Balance Sheet: Assets
Quarterly Data