Balance Sheet: Liabilities and Stockholders’ Equity
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.

Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.

Royal Caribbean Cruises Ltd., consolidated balance sheet: liabilities and stockholders’ equity (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
Current portion of long-term debt	5,466,486)	2,558,463)	2,243,131)	956,743)	970,627)	221,299)	961,768)	870,027)	706,283)	3,411,993)	1,186,586)	943,060)	946,227)	1,646,324)	1,646,841)	1,528,613)	1,177,626)	1,144,017)	1,188,514)	1,515,708)	1,541,519)	1,727,970)
Commercial paper	—)	—)	—)	—)	—)	—)	409,319)	386,683)	368,952)	343,557)	1,434,180)	922,201)	1,046,587)	1,112,030)	775,488)	998,835)	—)	—)	—)	—)	—)	—)
Current portion of operating lease liabilities	71,651)	74,234)	68,922)	71,341)	84,842)	97,431)	102,677)	102,251)	102,814)	98,883)	96,976)	93,058)	92,523)	88,497)	—)	—)	—)	—)	—)	—)	—)	—)
Accounts payable	760,864)	668,158)	545,978)	461,411)	384,683)	340,872)	353,422)	421,023)	661,427)	1,414,394)	563,706)	538,949)	531,788)	497,180)	488,212)	432,086)	418,616)	454,576)	360,113)	384,536)	376,508)	362,992)
Accrued interest	301,629)	263,347)	251,974)	248,983)	270,343)	236,942)	252,668)	234,375)	122,204)	114,738)	70,090)	124,561)	75,313)	120,131)	74,550)	94,977)	61,175)	90,388)	47,469)	92,914)	51,652)	91,372)
Accrued expenses and other liabilities	862,825)	774,007)	887,575)	658,987)	552,992)	534,744)	615,750)	677,594)	810,536)	1,022,405)	1,078,345)	979,939)	946,530)	823,097)	899,761)	859,948)	751,585)	680,397)	903,022)	748,442)	655,480)	634,009)
Derivative financial instruments	87,184)	101,554)	127,236)	79,305)	52,723)	53,398)	56,685)	113,474)	158,818)	203,308)	94,875)	101,561)	37,718)	89,023)	78,476)	46,801)	44,203)	40,314)	47,464)	89,333)	128,101)	153,820)
Customer deposits	4,168,743)	3,567,401)	3,160,867)	2,766,150)	2,363,505)	1,830,144)	1,784,832)	1,820,038)	1,805,874)	2,373,092)	3,428,138)	3,410,205)	3,909,454)	3,729,661)	3,148,837)	3,111,682)	3,049,145)	2,785,462)	2,243,682)	2,226,179)	2,532,693)	2,301,579)
Current liabilities	11,719,382)	8,007,164)	7,285,683)	5,242,920)	4,679,715)	3,314,830)	4,537,121)	4,625,465)	4,736,908)	8,982,370)	7,952,896)	7,113,534)	7,586,140)	8,105,943)	7,112,165)	7,072,942)	5,502,350)	5,195,154)	4,790,264)	5,057,112)	5,285,953)	5,271,742)
Long-term debt, excluding current portion	17,746,721)	19,943,513)	18,847,209)	19,882,760)	20,078,789)	20,714,376)	17,957,956)	17,633,737)	17,753,424)	12,273,322)	8,414,110)	8,819,212)	8,922,011)	7,526,330)	8,355,370)	7,646,988)	7,341,463)	7,664,722)	6,350,937)	6,076,499)	6,478,806)	6,841,403)
Long-term operating lease liabilities	561,160)	523,924)	534,726)	549,099)	533,551)	547,327)	563,876)	546,494)	569,392)	583,979)	601,641)	620,570)	644,088)	708,371)	—)	—)	—)	—)	—)	—)	—)	—)
Other long-term liabilities	517,884)	476,469)	505,181)	523,289)	515,892)	598,158)	645,565)	694,520)	698,045)	796,182)	617,810)	731,844)	561,550)	560,690)	583,254)	497,705)	439,525)	464,300)	452,813)	530,215)	576,001)	637,282)
Long-term liabilities	18,825,765)	20,943,906)	19,887,116)	20,955,148)	21,128,232)	21,859,861)	19,167,397)	18,874,751)	19,020,861)	13,653,483)	9,633,561)	10,171,626)	10,127,649)	8,795,391)	8,938,624)	8,144,693)	7,780,988)	8,129,022)	6,803,750)	6,606,714)	7,054,807)	7,478,685)
Total liabilities	30,545,147)	28,951,070)	27,172,799)	26,198,068)	25,807,947)	25,174,691)	23,704,518)	23,500,216)	23,757,769)	22,635,853)	17,586,457)	17,285,160)	17,713,789)	16,901,334)	16,050,789)	15,217,635)	13,283,338)	13,324,176)	11,594,014)	11,663,826)	12,340,760)	12,750,427)
Redeemable noncontrolling interest	—)	—)	—)	—)	—)	—)	—)	—)	584,869)	577,425)	569,981)	563,394)	556,770)	549,645)	542,020)	537,770)	—)	—)	—)	—)	—)	—)
Preferred stock, $0.01 par value; none outstanding	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Common stock, $0.01 par value	2,831)	2,830)	2,827)	2,827)	2,826)	2,824)	2,652)	2,425)	2,372)	2,372)	2,365)	2,365)	2,364)	2,364)	2,358)	2,358)	2,358)	2,357)	2,352)	2,351)	2,351)	2,351)
Paid-in capital	7,254,939)	7,267,545)	7,557,297)	7,547,210)	7,527,305)	7,513,318)	5,998,574)	4,329,557)	3,700,288)	3,473,253)	3,493,959)	3,466,641)	3,454,831)	3,432,419)	3,420,900)	3,425,810)	3,397,561)	3,390,055)	3,390,117)	3,375,969)	3,357,348)	3,338,269)
Retained earnings (accumulated deficit)	(1,240,191)	(718,609)	302,276)	1,659,244)	3,083,798)	4,431,053)	5,562,775)	6,929,710)	8,276,463)	9,915,758)	11,523,326)	11,412,773)	10,692,890)	10,366,612)	10,263,282)	10,093,892)	9,429,784)	9,090,544)	9,022,405)	8,862,369)	8,238,055)	7,971,840)
Accumulated other comprehensive loss	(551,252)	(494,609)	(710,885)	(675,824)	(663,955)	(708,854)	(739,341)	(869,107)	(951,227)	(1,095,617)	(797,713)	(946,363)	(653,173)	(578,980)	(627,734)	(230,580)	(265,200)	(182,815)	(334,265)	(526,894)	(761,038)	(892,322)
Treasury stock, common shares at cost	(2,068,229)	(2,068,229)	(2,065,959)	(2,065,959)	(2,065,959)	(2,065,959)	(2,063,991)	(2,063,991)	(2,063,991)	(2,063,991)	(2,058,091)	(1,958,509)	(1,958,509)	(1,953,345)	(1,953,345)	(1,953,345)	(1,790,805)	(1,653,345)	(1,378,306)	(1,278,307)	(1,153,308)	(1,153,308)
Shareholders’ equity	3,398,098)	3,988,928)	5,085,556)	6,467,498)	7,884,015)	9,172,382)	8,760,669)	8,328,594)	8,963,905)	10,231,775)	12,163,846)	11,976,907)	11,538,403)	11,269,070)	11,105,461)	11,338,135)	10,773,698)	10,646,796)	10,702,303)	10,435,488)	9,683,408)	9,266,830)
Total liabilities and shareholders’ equity	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)

Current Portion of Long-Term Debt: The current portion of long-term debt generally exhibited fluctuations, declining from approximately $1.7 billion in early 2017 to a low near $0.9 billion mid-2019, before spiking above $3.4 billion in March 2020, likely reflecting refinancing or additional short-term borrowings. Subsequently, values varied, peaking above $5.4 billion in mid-2022, indicating increased short-term obligations over the period.
Commercial Paper: Data for commercial paper issuance is available from the end of 2018, showing amounts mostly between $0.4 and $1.4 billion, with peaks in late 2019. This suggests utilization of short-term financing instruments during this timeframe, though data beyond mid-2020 is absent.
Current Portion of Operating Lease Liabilities: This liability remained relatively stable from 2019 to 2022, fluctuating around $70 million to $100 million, indicating consistency in lease-related current liabilities over this period.
Accounts Payable: Accounts payable grew steadily from around $360 million in early 2017 to exceed $1.4 billion by March 2020, reflecting increased operational payables or supplier credit usage. After a drop in mid-2020, a consistent upward trend resumed, reaching over $760 million by mid-2022.
Accrued Interest: Accrued interest showed notable variability, with spikes around late 2019 and during 2020, aligning with increased debt levels and possibly higher interest expenses. The amounts ranged from about $47 million to over $300 million by mid-2022, indicating growing interest obligations.
Accrued Expenses and Other Liabilities: These liabilities increased markedly from about $630 million in early 2017 to over $1 billion by late 2019, dipping in 2020, after which a renewed rise occurred, peaking near $887 million by mid-2022, signaling fluctuations in accrued operating costs and obligations.
Derivative Financial Instruments: This item varied over time, peaking around $203 million in early 2020, and generally staying between $40 million to $200 million, suggesting active management of financial risks with notable volatility over the period.
Customer Deposits: Customer deposits exhibited a strong upward trajectory from approximately $2.3 billion in early 2017 to over $4.1 billion by mid-2022, indicating growth in prepaid customer amounts despite temporary decreases in 2020, likely due to pandemic impacts.
Current Liabilities: Current liabilities overall increased from roughly $5.3 billion in early 2017 to in excess of $11.7 billion by mid-2022, with a drop around 2020 followed by substantial growth, reflecting increased short-term obligations over time.
Long-Term Debt, Excluding Current Portion: Long-term debt levels experienced growth from about $6.8 billion in early 2017 to a peak exceeding $20.7 billion by early 2021, before declining to approximately $17.7 billion by mid-2022, highlighting significant long-term borrowing and subsequent reduction.
Long-Term Operating Lease Liabilities: Operating lease liabilities displayed a declining trend from about $708 million in late 2018 to approximately $561 million mid-2022, indicating gradual reductions in lease-related obligations.
Other Long-Term Liabilities: This category remained generally stable, fluctuating around $450 million to $800 million across the years, with no clear long-term trend, suggesting consistent other non-debt obligations.
Long-Term Liabilities: Total long-term liabilities rose significantly from roughly $7.5 billion in early 2017 to approximately $21.9 billion by early 2021, then moderated to about $18.8 billion in mid-2022, mirroring movements seen in long-term debt and lease liabilities.
Total Liabilities: Total liabilities increased steadily from about $12.8 billion in 2017 to over $30.5 billion by mid-2022, with a notable jump in 2020 and sustained high levels thereafter, reflecting expansion in both current and long-term obligations.
Redeemable Noncontrolling Interest: Data available from mid-2018 to early 2020 shows a slow, steady increase from approximately $538 million to $585 million, indicating a stable position of redeemable interests.
Common Stock and Paid-in Capital: Common stock par value remained almost unchanged, reflecting no significant issuance of new shares. However, paid-in capital increased markedly from around $3.3 billion in early 2017 to about $7.5 billion by late 2021, followed by a slight decrease, indicating capital injections or equity-related financing activities.
Retained Earnings (Accumulated Deficit): Retained earnings steadily increased to over $11.5 billion by late 2019, then sharply declined into negative territory beginning in 2020, reaching around -$1.2 billion by mid-2022. This decline points to accumulated losses likely related to operational disruptions or extraordinary expenses.
Accumulated Other Comprehensive Loss: Accumulated other comprehensive loss varied, worsening from -$0.9 billion in 2017 to around -$1.1 billion in 2020, followed by some improvement, though remaining negative near -$0.5 billion to -$0.7 billion by 2022, indicating ongoing unrealized losses mainly from foreign currency or hedge accounting adjustments.
Treasury Stock: Treasury stock consistently increased in magnitude from approximately -$1.15 billion to nearly -$2.1 billion, reflecting continuous stock repurchases and reductions in outstanding shares.
Shareholders’ Equity: Shareholders' equity grew gradually from about $9.3 billion in early 2017 to a peak of $12.2 billion in late 2019, then declined substantially to below $3.4 billion by mid-2022, mirroring the sharp drop in retained earnings and indicating diminished net asset value.
Total Liabilities and Shareholders’ Equity: The total financing structure expanded from approximately $22 billion to over $33.9 billion, with a relatively stable increase, though impacted by equity declines in the latter years, reflecting growth in liabilities outpacing equity expansion.

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Royal Caribbean Cruises Ltd. (NYSE:RCL)

Balance Sheet: Liabilities and Stockholders’ Equity Quarterly Data

Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data