Attached files
| file | filename |
|---|---|
| 8-K - 8-K - CARNIVAL CORP | a8-k.htm |
| EX-99.2 - EX 99.2 CARNIVAL CORPORATION & PLC REVISED CONSOLIDATED FINANCIAL INFORMATION - CARNIVAL CORP | exhibit9928-k.htm |
| EX-99.1 - EX 99.1 SUMMARY IMPACT OF REVISION TO PRIOR PERIOD FINANCIAL INFORMATION - CARNIVAL CORP | exhibit9918-k.htm |
Exhibit 99.3
CARNIVAL CORPORATION & PLC
RATIO OF EARNINGS TO FIXED CHARGES
(UNAUDITED)
(in millions, except ratios)
Years Ended November 30, | |||||||||||||||||||
2014 | 2013 | 2012 | 2011 | 2010 | |||||||||||||||
Net income (as previously reported) | $ | 1,236 | $ | 1,078 | $ | 1,298 | $ | 1,912 | $ | 1,978 | |||||||||
Effect of revision | (20 | ) | (23 | ) | (13 | ) | — | (3 | ) | ||||||||||
Net income (revised) | 1,216 | 1,055 | 1,285 | 1,912 | 1,975 | ||||||||||||||
Income tax (benefit) expense, net | 9 | (6 | ) | 4 | — | 1 | |||||||||||||
Income before income taxes | 1,225 | 1,049 | 1,289 | 1,912 | 1,976 | ||||||||||||||
Fixed charges | |||||||||||||||||||
Interest expense, net | 288 | 319 | 336 | 365 | 378 | ||||||||||||||
Interest portion of rent expense (a) | 21 | 20 | 19 | 20 | 21 | ||||||||||||||
Capitalized interest | 21 | 15 | 17 | 21 | 26 | ||||||||||||||
Total fixed charges | 330 | 354 | 372 | 406 | 425 | ||||||||||||||
Fixed charges not affecting earnings | |||||||||||||||||||
Capitalized interest | (21 | ) | (15 | ) | (17 | ) | (21 | ) | (26 | ) | |||||||||
Earnings before fixed charges | $ | 1,534 | $ | 1,388 | $ | 1,644 | $ | 2,297 | $ | 2,375 | |||||||||
Ratio of earnings to fixed charges | 4.6 | 3.9 | 4.4 | 5.7 | 5.6 | ||||||||||||||
(a) Represents one-third of rent expense, which we believe to be representative of the interest portion of rent expense.
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