CARNIVAL CORP - FORM 10-Q - EX-12 - EXHIBIT 12 - July 1, 2015

Attached files

file filename
EX-23.1 - EXHIBIT 23.1 - CARNIVAL CORPex_23x1xq22015.htm
10-Q - 10-Q - CARNIVAL CORPa2015q210-q.htm
EX-10.1 - EXHIBIT 10.1 - CARNIVAL CORPex_10x1xq22015.htm
EX-10.2 - EXHIBIT 10.2 - CARNIVAL CORPex_10x2xq22015.htm
EX-10.3 - EXHIBIT 10.3 - CARNIVAL CORPex_10x3xq22015.htm
EX-31.1 - EXHIBIT 31.1 - CARNIVAL CORPex_31x1xq22015.htm
EX-31.2 - EXHIBIT 31.2 - CARNIVAL CORPex_31x2xq22015.htm
EX-31.3 - EXHIBIT 31.3 - CARNIVAL CORPex_31x3xq22015.htm
EX-31.4 - EXHIBIT 31.4 - CARNIVAL CORPex_31x4xq22015.htm
EX-32.1 - EXHIBIT 32.1 - CARNIVAL CORPex_32x1xq22015.htm
EX-32.2 - EXHIBIT 32.2 - CARNIVAL CORPex_32x2xq22015.htm
EX-32.3 - EXHIBIT 32.3 - CARNIVAL CORPex_32x3xq22015.htm
EX-32.4 - EXHIBIT 32.4 - CARNIVAL CORPex_32x4xq22015.htm
10-Q - PDF OF FORM 10-Q - CARNIVAL CORPa2015q210qcarnivalcorp.pdf


Exhibit 12

CARNIVAL CORPORATION & PLC
Ratio of Earnings to Fixed Charges
(in millions, except ratios)

 
Six Months Ended
 
May 31,
 
2015
 
2014 (a)
 
 
 
 
Net income
$
271

 
$
78

Income tax expense, net
7

 
2

Income before income taxes
278

 
80

Fixed charges
 
 
 
   Interest expense, net
114

 
143

   Interest portion of rent expense (b)
11

 
10

   Capitalized interest
10

 
11

Total fixed charges
135

 
164

Fixed charges not affecting earnings
 
 
 
   Capitalized interest
(10
)
 
(11
)
Earnings before fixed charges
$
403

 
$
233

Ratio of earnings to fixed charges
3.0

 
1.4


(a) Revised as discussed in Note 1 to the consolidated financial statements.

(b) Represents one-third of rent expense, which we believe to be representative of the interest portion of rent expense.




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