Attached files
| file | filename |
|---|---|
| 10-Q - 10-Q - CARNIVAL CORP | q1201610-q.htm |
| EX-4.1 - EXHIBIT 4.1 - CARNIVAL CORP | ex_41q12016.htm |
| EX-31.1 - EXHIBIT 31.1 - CARNIVAL CORP | ex_31x1x2016q1.htm |
| EX-31.2 - EXHIBIT 31.2 - CARNIVAL CORP | ex_31x2x2016q1.htm |
| EX-31.3 - EXHIBIT 31.3 - CARNIVAL CORP | ex_31x3x2016q1.htm |
| EX-31.4 - EXHIBIT 31.4 - CARNIVAL CORP | ex_31x4x2016q1.htm |
| EX-32.1 - EXHIBIT 32.1 - CARNIVAL CORP | ex_32x1x2016q1.htm |
| EX-32.2 - EXHIBIT 32.2 - CARNIVAL CORP | ex_32x2x2016q1.htm |
| EX-32.3 - EXHIBIT 32.3 - CARNIVAL CORP | ex_32x3x2016q1.htm |
| EX-32.4 - EXHIBIT 32.4 - CARNIVAL CORP | ex_32x4x2016q1.htm |
| 10-Q - PDF OF FORM 10-Q - CARNIVAL CORP | q1201610q.pdf |
Exhibit 12
CARNIVAL CORPORATION & PLC
Ratio of Earnings to Fixed Charges
(in millions, except ratios)
Three Months Ended | Years Ended | ||||||||||||||||||||||||||
February 29/28 | November 30, | ||||||||||||||||||||||||||
2016 | 2015 | 2015 | 2014 | 2013 | 2012 | 2011 | |||||||||||||||||||||
Net income | $ | 142 | $ | 49 | $ | 1,757 | $ | 1,216 | $ | 1,055 | $ | 1,285 | $ | 1,912 | |||||||||||||
Income tax expense (benefit), net | 1 | 3 | 42 | 9 | (6 | ) | 4 | — | |||||||||||||||||||
Income before income taxes | 143 | 52 | 1,799 | 1,225 | 1,049 | 1,289 | 1,912 | ||||||||||||||||||||
Fixed charges | |||||||||||||||||||||||||||
Interest expense, net | 52 | 57 | 217 | 288 | 319 | 336 | 365 | ||||||||||||||||||||
Interest portion of rent expense (a) | 6 | 6 | 23 | 21 | 20 | 19 | 20 | ||||||||||||||||||||
Capitalized interest | 8 | 5 | 22 | 21 | 15 | 17 | 21 | ||||||||||||||||||||
Total fixed charges | 66 | 68 | 262 | 330 | 354 | 372 | 406 | ||||||||||||||||||||
Fixed charges not affecting earnings | |||||||||||||||||||||||||||
Capitalized interest | (8 | ) | (5 | ) | (22 | ) | (21 | ) | (15 | ) | (17 | ) | (21 | ) | |||||||||||||
Earnings before fixed charges | $ | 201 | $ | 115 | $ | 2,039 | $ | 1,534 | $ | 1,388 | $ | 1,644 | $ | 2,297 | |||||||||||||
Ratio of earnings to fixed charges | 3.0 | 1.7 | 7.8 | 4.6 | 3.9 | 4.4 | 5.7 | ||||||||||||||||||||
(a) Represents one-third of rent expense, which we believe to be representative of the interest portion of rent expense.