%PDF-1.5 1 0 obj <> endobj 3 0 obj <> endobj 4 0 obj <> stream 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 17.5 761.1 m 593.5 761.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 17.5 757.1 m 593.5 757.1 l s BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 14.00 Tf ET q 0 0 0 rg BT 251.20 737.80 Td (UNITED ST) Tj ET Q q 0 0 0 rg BT 325.24 737.80 Td (A) Tj ET Q q 0 0 0 rg BT 334.31 737.80 Td (TES) Tj ET Q BT /F2 14.00 Tf ET q 0 0 0 rg BT 155.65 721.00 Td (SECURITIES ) Tj ET Q q 0 0 0 rg BT 243.19 721.00 Td (AND EXCHANGE COMMISSION) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 244.15 706.60 Td (W) Tj ET Q q 0 0 0 rg BT 255.49 706.60 Td (ashington, D.C. 20549) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 244 688.1 m 367 688.1 l s BT /F1 10.00 Tf ET BT /F2 14.00 Tf ET q 0 0 0 rg BT 268.05 667.80 Td (FORM 10-Q) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 244 657.3 m 367 657.3 l s BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 18.00 636.80 Td (\(Mark One\)) Tj ET Q /GS0 gs q 8.00 0 0 8.00 21.00 615.80 cm /I1 Do Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 51.00 617.03 Td (QUAR) Tj ET Q q 0 0 0 rg BT 80.09 617.03 Td (TERL) Tj ET Q q 0 0 0 rg BT 106.41 617.03 Td (Y) Tj ET Q q 0 0 0 rg BT 113.26 617.03 Td ( REPOR) Tj ET Q q 0 0 0 rg BT 150.40 617.03 Td (T) Tj ET Q q 0 0 0 rg BT 156.89 617.03 Td ( PURSUANT) Tj ET Q q 0 0 0 rg BT 213.66 617.03 Td ( ) Tj ET Q q 0 0 0 rg BT 215.98 617.03 Td (T) Tj ET Q q 0 0 0 rg BT 222.47 617.03 Td (O SECTION13 OR 15\(d\) OF) Tj ET Q q 0 0 0 rg BT 348.50 617.03 Td ( ) Tj ET Q q 0 0 0 rg BT 350.82 617.03 Td (THE SECURITIES EXCHANGE ) Tj ET Q q 0 0 0 rg BT 497.25 617.03 Td (ACT) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 51.00 607.03 Td (OF) Tj ET Q q 0 0 0 rg BT 64.52 607.03 Td ( 1934) Tj ET Q BT /F1 10.00 Tf ET BT /F1 8.00 Tf ET q 0 0 0 rg BT 18.00 584.20 Td (For the quarterly period ended ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 117.30 584.20 Td (February28, 2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 176.18 584.20 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 299.05 565.20 Td (OR) Tj ET Q /GS0 gs q 10.00 0 0 10.00 21.00 542.20 cm /I2 Do Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 51.00 545.43 Td (TRANSITION REPOR) Tj ET Q q 0 0 0 rg BT 151.50 545.43 Td (T) Tj ET Q q 0 0 0 rg BT 157.99 545.43 Td ( PURSUANT) Tj ET Q q 0 0 0 rg BT 214.75 545.43 Td ( ) Tj ET Q q 0 0 0 rg BT 217.07 545.43 Td (T) Tj ET Q q 0 0 0 rg BT 223.56 545.43 Td (O SECTION13 OR 15\(d\) OF) Tj ET Q q 0 0 0 rg BT 349.59 545.43 Td ( ) Tj ET Q q 0 0 0 rg BT 351.91 545.43 Td (THE SECURITIES EXCHANGE ) Tj ET Q q 0 0 0 rg BT 498.34 545.43 Td (ACT) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 51.00 535.43 Td (OF) Tj ET Q q 0 0 0 rg BT 64.52 535.43 Td ( 1934) Tj ET Q BT /F1 10.00 Tf ET BT /F1 8.00 Tf ET q 0 0 0 rg BT 18.00 512.60 Td (For the transition period from ) Tj ET Q BT /F1 8.00 Tf ET 0 0 0 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 115.09375 511.53359375 m 139.09375 511.53359375 l s q 0 0 0 rg BT 115.09 512.60 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 139.09 512.60 Td ( to ) Tj ET Q BT /F1 8.00 Tf ET 0 0 0 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 149.31640625 511.53359375 m 173.31640625 511.53359375 l s q 0 0 0 rg BT 149.32 512.60 Td () Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 18.5 471.1 m 238.5 471.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374.5 471.1 m 594.5 471.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 18.5 435.1 m 238.5 435.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374.5 435.1 m 594.5 435.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 18.5 399.1 m 238.5 399.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374.5 399.1 m 594.5 399.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 18.5 359.1 m 238.5 359.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374.5 359.1 m 594.5 359.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 18.5 313.1 m 238.5 313.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374.5 313.1 m 594.5 313.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 18.5 277.1 m 238.5 277.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374.5 277.1 m 594.5 277.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 18.5 277.1 m 238.5 277.1 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.75 494.05 Td (Commission file number: 001-9610) Tj ET Q BT /F1 10.00 Tf ET BT /F1 8.00 Tf ET q 0 0 0 rg BT 424.75 494.05 Td (Commissionfilenumber:001-15136) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 93.85 477.05 Td (Carnival Corporation) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 464.30 477.05 Td (Carnival plc) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 83.10 463.05 Td (\(Exact name of registrant as) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 91.20 455.10 Td (specified in its charter\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 439.10 463.05 Td (\(Exact name of registrant as) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 447.20 455.10 Td (specified in its charter\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 94.55 441.05 Td (Republic of Panama) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 453.25 441.05 Td (England and ) Tj ET Q q 0 0 0 rg BT 495.39 441.05 Td (W) Tj ET Q q 0 0 0 rg BT 502.55 441.05 Td (ales) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 81.55 427.05 Td (\(State or other jurisdiction of) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 79.85 419.05 Td (incorporation or or) Tj ET Q q 0 0 0 rg BT 140.13 419.05 Td (ganization\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 437.55 427.05 Td (\(State or other jurisdiction of) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 435.85 419.05 Td (incorporation or or) Tj ET Q q 0 0 0 rg BT 496.13 419.05 Td (ganization\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 108.65 403.05 Td (59-1562976) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 464.65 403.05 Td (98-0357772) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 69.90 391.05 Td (\(I.R.S. Employer Identification No.\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 425.90 391.05 Td (\(I.R.S. Employer Identification No.\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 89.65 371.35 Td (3655 N.W) Tj ET Q q 0 0 0 rg BT 122.24 371.35 Td (. 87th ) Tj ET Q q 0 0 0 rg BT 142.03 371.35 Td (A) Tj ET Q q 0 0 0 rg BT 147.21 371.35 Td (venue) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 83.40 363.35 Td (Miami, Florida 33178-2428) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 423.75 371.35 Td (Carnival House, 100 Harbour Parade, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 416.15 363.35 Td (Southampton SO15 1ST) Tj ET Q q 0 0 0 rg BT 493.79 363.35 Td (, United Kingdom) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 94.00 351.05 Td (\(Address of principal) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 99.50 343.05 Td (executive of) Tj ET Q q 0 0 0 rg BT 138.67 343.05 Td (fices\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 110.30 335.05 Td (\(Zip Code\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 450.00 351.05 Td (\(Address of principal) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 455.50 343.05 Td (executive of) Tj ET Q q 0 0 0 rg BT 494.67 343.05 Td (fices\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 466.30 335.05 Td (\(Zip Code\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 103.00 317.35 Td (\(305\) 599-2600) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 450.10 317.35 Td (01) Tj ET Q q 0 0 0 rg BT 457.95 317.35 Td (1 44 23 8065 5000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 76.95 305.05 Td (\(Registrant) Tj ET Q q 0 0 0 rg BT 114.72 305.05 Td (s telephone number) Tj ET Q q 0 0 0 rg BT 177.05 305.05 Td (,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 95.30 297.05 Td (including area code\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 432.95 305.05 Td (\(Registrant) Tj ET Q q 0 0 0 rg BT 470.72 305.05 Td (s telephone number) Tj ET Q q 0 0 0 rg BT 533.05 305.05 Td (,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 451.30 297.05 Td (including area code\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 119.30 281.05 Td (None) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 475.30 281.05 Td (None) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 79.35 269.05 Td (\(Former name, former address) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 88.50 261.05 Td (and former fiscal year) Tj ET Q q 0 0 0 rg BT 158.59 261.05 Td (, if ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 87.00 253.05 Td (changed since last report\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 435.35 269.05 Td (\(Former name, former address) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 444.50 261.05 Td (and former fiscal year) Tj ET Q q 0 0 0 rg BT 514.59 261.05 Td (, if ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 443.00 253.05 Td (changed since last report\)) Tj ET Q BT /F1 10.00 Tf ET BT /F1 8.00 Tf ET q 0 0 0 rg BT 18.00 231.40 Td (Indicate by check mark whether the registrants \(1\)have filed all reports required to be filed by Section13 or 15\(d\) of the Securities Exchange ) Tj ET Q q 0 0 0 rg BT 473.17 231.40 Td (Act of 1934 during the preceding 12 ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 18.00 221.80 Td (months \(or for such shorter period that the registrants were required to file such reports\), and \(2\)have been subject to such filing requirements for the past 90 days. ) Tj ET Q q 0 0 0 rg BT 543.32 221.80 Td (Y) Tj ET Q q 0 0 0 rg BT 548.30 221.80 Td (es) Tj ET Q /GS0 gs q 8.00 0 0 8.27 558.96 220.07 cm /I3 Do Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 566.96 221.80 Td (No) Tj ET Q /GS0 gs q 8.00 0 0 8.27 582.74 220.07 cm /I4 Do Q q 0 0 0 rg BT 590.74 221.80 Td ( ) Tj ET Q q 0 0 0 rg BT 592.74 221.80 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 18.00 209.20 Td (Indicate by check mark whether the registrants have submitted electronically and posted on their corporate ) Tj ET Q q 0 0 0 rg BT 361.06 209.20 Td (W) Tj ET Q q 0 0 0 rg BT 367.97 209.20 Td (eb sites, if any) Tj ET Q q 0 0 0 rg BT 413.66 209.20 Td (, every Interactive Data File required to be submitted ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 18.00 199.60 Td (and posted pursuant to Rule 405 of Regulation S-T) Tj ET Q q 0 0 0 rg BT 180.95 199.60 Td ( \( 232.405 of this chapter\) during the preceding 12 months \(or for such shorter period that the registrants were required to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 18.00 190.00 Td (submit and post such files\).) Tj ET Q q 0 0 0 rg BT 113.47 190.00 Td (Y) Tj ET Q q 0 0 0 rg BT 118.45 190.00 Td (es) Tj ET Q /GS0 gs q 8.00 0 0 8.27 129.11 188.27 cm /I5 Do Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 137.11 190.00 Td (No) Tj ET Q /GS0 gs q 8.00 0 0 8.27 158.89 188.27 cm /I6 Do Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 18.00 177.40 Td (Indicate by check mark whether the registrants are lar) Tj ET Q q 0 0 0 rg BT 189.77 177.40 Td (ge accelerated filers, accelerated filers, non-accelerated filers, smaller reporting companies, or emer) Tj ET Q q 0 0 0 rg BT 508.79 177.40 Td (ging growth companies. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 18.00 167.80 Td (See the definitions of lar) Tj ET Q q 0 0 0 rg BT 100.05 167.80 Td (ge accelerated filer) Tj ET Q q 0 0 0 rg BT 160.57 167.80 Td (, accelerated filer) Tj ET Q q 0 0 0 rg BT 222.64 167.80 Td (, smaller reporting company and emer) Tj ET Q q 0 0 0 rg BT 358.43 167.80 Td (ging growth company in Rule 12b-2 of the Exchange ) Tj ET Q q 0 0 0 rg BT 533.73 167.80 Td (Act.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 21.00 148.90 Td (Lar) Tj ET Q q 0 0 0 rg BT 32.03 148.90 Td (geacceleratedfilers) Tj ET Q /GS0 gs q 8.00 0 0 8.00 103.00 146.80 cm /I7 Do Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 133.00 148.90 Td (Acceleratedfilers) Tj ET Q /GS0 gs q 8.00 0 0 8.00 197.00 146.80 cm /I8 Do Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 227.00 148.90 Td (Non-accelerated filers) Tj ET Q /GS0 gs q 8.00 0 0 8.00 306.00 146.80 cm /I9 Do Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 336.00 149.25 Td (Smallerreportingcompanies) Tj ET Q /GS0 gs q 8.00 0 0 8.00 435.00 146.80 cm /I10 Do Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 465.00 149.25 Td (Emer) Tj ET Q q 0 0 0 rg BT 482.18 149.25 Td (ging growth companies ) Tj ET Q /GS0 gs q 8.00 0 0 8.00 567.00 146.80 cm /I11 Do Q BT /F1 10.00 Tf ET BT /F1 8.00 Tf ET q 0 0 0 rg BT 18.00 132.20 Td (If emer) Tj ET Q q 0 0 0 rg BT 41.17 132.20 Td (ging growth companies, indicate by check mark if the registrants have elected not to use the extended transition period for complying with any new or revised financial ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 18.00 122.60 Td (accounting ) Tj ET Q q 0 0 0 rg BT 55.10 122.60 Td (standards ) Tj ET Q q 0 0 0 rg BT 87.31 122.60 Td (provided ) Tj ET Q q 0 0 0 rg BT 117.75 122.60 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 147.30 122.60 Td (to ) Tj ET Q q 0 0 0 rg BT 155.52 122.60 Td (Section ) Tj ET Q q 0 0 0 rg BT 181.52 122.60 Td (13\(a\) ) Tj ET Q q 0 0 0 rg BT 200.40 122.60 Td (of ) Tj ET Q q 0 0 0 rg BT 209.06 122.60 Td (the ) Tj ET Q q 0 0 0 rg BT 220.84 122.60 Td (Exchange ) Tj ET Q q 0 0 0 rg BT 253.93 122.60 Td (Act.) Tj ET Q /GS0 gs q 8.00 0 0 8.27 271.48 120.87 cm /I12 Do Q q 0 0 0 rg BT 279.48 122.60 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 18.00 110.00 Td (Indicate ) Tj ET Q q 0 0 0 rg BT 45.76 110.00 Td (by ) Tj ET Q q 0 0 0 rg BT 55.76 110.00 Td (check ) Tj ET Q q 0 0 0 rg BT 76.41 110.00 Td (mark ) Tj ET Q q 0 0 0 rg BT 94.85 110.00 Td (whether ) Tj ET Q q 0 0 0 rg BT 122.62 110.00 Td (the ) Tj ET Q q 0 0 0 rg BT 134.39 110.00 Td (registrants ) Tj ET Q q 0 0 0 rg BT 169.71 110.00 Td (are ) Tj ET Q q 0 0 0 rg BT 181.48 110.00 Td (shell ) Tj ET Q q 0 0 0 rg BT 198.59 110.00 Td (companies ) Tj ET Q q 0 0 0 rg BT 234.80 110.00 Td (\(as ) Tj ET Q q 0 0 0 rg BT 246.13 110.00 Td (defined ) Tj ET Q q 0 0 0 rg BT 272.12 110.00 Td (in ) Tj ET Q q 0 0 0 rg BT 280.34 110.00 Td (Rule ) Tj ET Q q 0 0 0 rg BT 297.45 110.00 Td (12b-2 ) Tj ET Q q 0 0 0 rg BT 318.11 110.00 Td (of ) Tj ET Q q 0 0 0 rg BT 326.78 110.00 Td (the ) Tj ET Q q 0 0 0 rg BT 338.55 110.00 Td (Exchange ) Tj ET Q q 0 0 0 rg BT 371.65 110.00 Td (Act\).) Tj ET Q q 0 0 0 rg BT 395.57 110.00 Td (Y) Tj ET Q q 0 0 0 rg BT 400.54 110.00 Td (es) Tj ET Q /GS0 gs q 8.00 0 0 8.27 411.21 108.27 cm /I13 Do Q q 0 0 0 rg BT 419.21 110.00 Td (No) Tj ET Q /GS0 gs q 8.00 0 0 8.27 440.98 108.27 cm /I14 Do Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 21.00 88.45 Td (At March 15, 2018, Carnival Corporation had outstanding 534,352,222 shares of) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 21.00 80.45 Td (Common Stock, $0.01 par value.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 301.00 66.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 318.00 88.45 Td (At March 15, 2018, Carnival plc had outstanding 207,338,276 Ordinary Shares) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 318.00 80.45 Td ($1.66 par value, one Special ) Tj ET Q q 0 0 0 rg BT 410.49 80.45 Td (V) Tj ET Q q 0 0 0 rg BT 415.24 80.45 Td (oting Share, GBP) Tj ET Q q 0 0 0 rg BT 471.16 80.45 Td ( 1.00 par value and 534,352,222) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 318.00 72.45 Td (T) Tj ET Q q 0 0 0 rg BT 322.61 72.45 Td (rust Shares of beneficial interest in the P&O Princess Special ) Tj ET Q q 0 0 0 rg BT 520.19 72.45 Td (V) Tj ET Q q 0 0 0 rg BT 524.94 72.45 Td (oting ) Tj ET Q q 0 0 0 rg BT 543.24 72.45 Td (T) Tj ET Q q 0 0 0 rg BT 547.84 72.45 Td (rust.) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 17.5 52.5 m 593.5 52.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 17.5 48.5 m 593.5 48.5 l s BT /F1 10.00 Tf ET /GS0 gs q 95.00 0 0 82.00 258.50 417.62 cm /I15 Do Q endstream endobj 5 0 obj <><><><><><><><><><><><><><><><><><><><><>] /Rotate 0 /Contents 6 0 R>> endobj 6 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 31.60 Td (2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 224.35 742.25 Td (CARNIV) Tj ET Q q 0 0 0 rg BT 263.06 742.25 Td (AL) Tj ET Q q 0 0 0 rg BT 276.40 742.25 Td ( CORPORA) Tj ET Q q 0 0 0 rg BT 328.71 742.25 Td (TION& PLC) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 252.65 721.25 Td (T) Tj ET Q q 0 0 0 rg BT 258.58 721.25 Td (ABLE OF) Tj ET Q q 0 0 0 rg BT 301.82 721.25 Td ( CONTENTS) Tj ET Q 1 1 1 rg /GS0 gs 96.00 680.75 426.00 -15.00 re f /GS0 gs 1 1 1 rg /GS0 gs 96.00 661.75 426.00 -15.00 re f /GS0 gs 1 1 1 rg /GS0 gs 96.00 642.75 426.00 -15.00 re f /GS0 gs 1 1 1 rg /GS0 gs 96.00 623.75 426.00 -15.00 re f /GS0 gs 1 1 1 rg /GS0 gs 96.00 585.75 426.00 -15.00 re f /GS0 gs 1 1 1 rg /GS0 gs 96.00 570.75 426.00 -4.00 re f /GS0 gs 1 1 1 rg /GS0 gs 96.00 566.75 426.00 -15.00 re f /GS0 gs 1 1 1 rg /GS0 gs 96.00 547.75 426.00 -15.00 re f /GS0 gs 1 1 1 rg /GS0 gs 96.00 527.75 426.00 -15.00 re f /GS0 gs BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 533.05 699.0833984375 m 552.4884765625 699.0833984375 l s q 0 0 0 rg BT 533.05 700.42 Td (Page) Tj ET Q BT /F2 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 52.5 684.41259765625 m 225.48828125 684.41259765625 l s q 0 0 1 rg BT 52.50 685.98 Td (P) Tj ET Q q 0 0 1 rg BT 57.87 685.98 Td (AR) Tj ET Q q 0 0 1 rg BT 71.96 685.98 Td (T) Tj ET Q q 0 0 1 rg BT 78.45 685.98 Td ( I - FINANCIAL) Tj ET Q q 0 0 1 rg BT 149.29 685.98 Td ( INFORMA) Tj ET Q q 0 0 1 rg BT 199.93 685.98 Td (TION) Tj ET Q BT /F2 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 670.42 Td (Item 1.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 98.5 669.0833984375 m 182.09375 669.0833984375 l s q 0 0 1 rg BT 98.50 670.42 Td (Financial Statements) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 183.50 670.32 Td (......................................................................................................................................) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 651.42 Td (Item 2.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 98.5 650.0833984375 m 456.791015625 650.0833984375 l s q 0 0 1 rg BT 98.50 651.42 Td (Management) Tj ET Q q 0 0 1 rg BT 153.48 651.42 Td (s Discussion and ) Tj ET Q q 0 0 1 rg BT 222.65 651.42 Td (Analysis of Financial Condition and Results of Operations) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.50 651.32 Td (........................) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 632.42 Td (Item 3.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 98.5 631.0833984375 m 340.12109375 631.0833984375 l s q 0 0 1 rg BT 98.50 632.42 Td (Quantitative and Qualitative Disclosures ) Tj ET Q q 0 0 1 rg BT 262.90 632.42 Td (About Market Risk) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.00 632.32 Td (.......................................................................) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 613.42 Td (Item 4.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 98.5 612.0833984375 m 196.8154296875 612.0833984375 l s q 0 0 1 rg BT 98.50 613.42 Td (Controls and Procedures) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 198.50 613.32 Td (................................................................................................................................) Tj ET Q BT /F2 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 52.5 593.41259765625 m 209.3798828125 593.41259765625 l s q 0 0 1 rg BT 52.50 594.98 Td (P) Tj ET Q q 0 0 1 rg BT 57.87 594.98 Td (AR) Tj ET Q q 0 0 1 rg BT 71.96 594.98 Td (T) Tj ET Q q 0 0 1 rg BT 78.45 594.98 Td ( II - OTHER INFORMA) Tj ET Q q 0 0 1 rg BT 183.82 594.98 Td (TION) Tj ET Q BT /F2 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 575.42 Td (Item 1.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 98.5 574.0833984375 m 172.640625 574.0833984375 l s q 0 0 1 rg BT 98.50 575.42 Td (Legal Proceedings) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 173.50 575.32 Td (..........................................................................................................................................) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 556.42 Td (Item 1A.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 98.5 555.0833984375 m 148.7783203125 555.0833984375 l s q 0 0 1 rg BT 98.50 556.42 Td (Risk Factors) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 151.00 556.32 Td (...................................................................................................................................................) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 537.42 Td (Item 2.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 98.5 536.0833984375 m 340.1015625 536.0833984375 l s q 0 0 1 rg BT 98.50 537.42 Td (Unregistered Sales of Equity Securities and Use of Proceeds) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.00 537.32 Td (.......................................................................) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 517.42 Td (Item 6.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 98.5 516.0833984375 m 131.8349609375 516.0833984375 l s q 0 0 1 rg BT 98.50 517.42 Td (Exhibits) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 133.50 517.32 Td (..........................................................................................................................................................) Tj ET Q BT /F2 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 52.5 496.86259765625 m 116.77734375 496.86259765625 l s q 0 0 1 rg BT 52.50 498.43 Td (SIGNA) Tj ET Q q 0 0 1 rg BT 83.43 498.43 Td (TURES) Tj ET Q BT /F2 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 547.5 669.0833984375 m 552.5 669.0833984375 l s q 0 0 1 rg BT 547.50 670.42 Td (3) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 542.5 650.0833984375 m 552.5 650.0833984375 l s q 0 0 1 rg BT 542.50 651.42 Td (16) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 542.5 631.0833984375 m 552.5 631.0833984375 l s q 0 0 1 rg BT 542.50 632.42 Td (26) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 542.5 612.0833984375 m 552.5 612.0833984375 l s q 0 0 1 rg BT 542.50 613.42 Td (27) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 542.5 574.0833984375 m 552.5 574.0833984375 l s q 0 0 1 rg BT 542.50 575.42 Td (28) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 542.5 555.0833984375 m 552.5 555.0833984375 l s q 0 0 1 rg BT 542.50 556.42 Td (28) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 542.5 536.0833984375 m 552.5 536.0833984375 l s q 0 0 1 rg BT 542.50 537.42 Td (28) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 542.5 516.0833984375 m 552.5 516.0833984375 l s q 0 0 1 rg BT 542.50 517.42 Td (30) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 542.5 497.0833984375 m 552.5 497.0833984375 l s q 0 0 1 rg BT 542.50 498.42 Td (32) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 7 0 obj <>] /Rotate 0 /Contents 8 0 R>> endobj 8 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 31.60 Td (3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 219.50 742.25 Td (P) Tj ET Q q 0 0 0 rg BT 224.87 742.25 Td (AR) Tj ET Q q 0 0 0 rg BT 238.96 742.25 Td (T) Tj ET Q q 0 0 0 rg BT 245.45 742.25 Td ( I - FINANCIAL) Tj ET Q q 0 0 0 rg BT 316.29 742.25 Td ( INFORMA) Tj ET Q q 0 0 0 rg BT 366.93 742.25 Td (TION) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 718.25 Td (Item 1. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 81.990234375 716.68505859375 m 171.70703125 716.68505859375 l s q 0 0 0 rg BT 81.99 718.25 Td (Financial Statements) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 171.71 718.25 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 224.35 694.25 Td (CARNIV) Tj ET Q q 0 0 0 rg BT 263.06 694.25 Td (AL) Tj ET Q q 0 0 0 rg BT 276.40 694.25 Td ( CORPORA) Tj ET Q q 0 0 0 rg BT 328.71 694.25 Td (TION& PLC) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 200.75 682.25 Td (CONSOLIDA) Tj ET Q q 0 0 0 rg BT 260.57 682.25 Td (TED ST) Tj ET Q q 0 0 0 rg BT 295.13 682.25 Td (A) Tj ET Q q 0 0 0 rg BT 301.60 682.25 Td (TEMENTS OF) Tj ET Q q 0 0 0 rg BT 366.52 682.25 Td ( INCOME) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 272.35 670.25 Td (\(UNAUDITED\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 236.55 658.25 Td (\(in millions, except per share data\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 646.25 Td () Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 600.75 399.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 449.00 600.75 54.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 600.75 6.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.00 600.75 54.00 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/GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 449.00 488.75 54.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 488.75 6.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.00 488.75 54.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 460.75 399.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 449.00 460.75 54.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 460.75 6.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.00 460.75 54.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 432.75 399.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 449.00 432.75 54.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 432.75 6.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.00 432.75 54.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 404.75 399.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 449.00 404.75 54.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 404.75 6.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.00 404.75 54.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 376.75 399.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 449.00 376.75 54.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 376.75 6.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.00 376.75 54.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 348.75 399.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 449.00 348.75 54.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 348.75 6.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.00 348.75 54.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 320.75 399.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 449.00 320.75 54.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 320.75 6.00 -14.00 re f /GS0 gs 0.8 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525.50 603.48 Td (2017) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 591.48 Td (Revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 577.32 Td (Cruise) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.50 563.32 Td ( Passenger ticket) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.50 563.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.65 563.32 Td (3,148) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.50 563.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 563.32 Td (2,804) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.50 549.32 Td ( Onboard and other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.65 549.32 Td (1,071) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.15 549.32 Td (978) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 535.32 Td (T) Tj ET Q q 0 0 0 rg BT 70.26 535.32 Td (our and other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 535.32 Td (13) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 554.15 535.32 Td (9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.65 521.32 Td (4,232) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 521.32 Td (3,791) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 507.48 Td (Operating Costs and Expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 493.32 Td (Cruise) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.50 479.32 Td ( Commissions, transportation and other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 479.32 Td (663) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.15 479.32 Td (569) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.50 465.32 Td ( Onboard and other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 465.32 Td (140) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.15 465.32 Td (125) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.50 451.32 Td ( Payroll and related) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 451.32 Td (558) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.15 451.32 Td (519) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.50 437.32 Td ( Fuel) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 437.32 Td (359) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.15 437.32 Td (297) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.50 423.32 Td ( Food) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 423.32 Td (264) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.15 423.32 Td (251) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.50 409.32 Td ( Other ship operating) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 409.32 Td (71) Tj ET Q q 0 0 0 rg BT 494.15 409.32 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.15 409.32 Td (661) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 395.32 Td (T) Tj ET Q q 0 0 0 rg BT 70.26 395.32 Td (our and other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 395.32 Td (14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 395.32 Td (13) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.65 381.32 Td (2,709) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 381.32 Td (2,435) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 367.32 Td (Selling and administrative) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 367.32 Td (616) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.15 367.32 Td (549) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 353.32 Td (Depreciation and amortization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 353.32 Td (488) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.15 353.32 Td (439) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.65 339.32 Td (3,813) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 339.32 Td (3,423) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 325.48 Td (Operating Income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 325.32 Td (419) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.15 325.32 Td (368) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 311.48 Td (Nonoperating Income \(Expense\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 297.32 Td (Interest income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.15 297.32 Td (3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 554.15 297.32 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 283.32 Td (Interest expense, net of capitalized interest) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.80 283.37 Td (\(48) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.15 283.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.80 283.37 Td (\(51) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 283.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 269.32 Td (Gains on fuel derivatives, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 269.32 Td (16) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 269.32 Td (27) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 255.32 Td (Other income, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.15 255.32 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 554.15 255.32 Td (8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.80 241.37 Td (\(28) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.15 241.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.80 241.37 Td (\(14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 241.32 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 227.48 Td (Income Befor) Tj ET Q q 0 0 0 rg BT 110.45 227.48 Td (e Income ) Tj ET Q q 0 0 0 rg BT 151.36 227.48 Td (T) Tj ET Q q 0 0 0 rg BT 157.49 227.48 Td (axes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 227.32 Td (390) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.15 227.32 Td (354) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 213.48 Td (Income ) Tj ET Q q 0 0 0 rg BT 86.57 213.48 Td (T) Tj ET Q q 0 0 0 rg BT 92.69 213.48 Td (ax Expense, Net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 213.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.80 213.37 Td (\(2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 213.32 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 199.48 Td (Net Income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.50 199.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 199.32 Td (391) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.50 199.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.15 199.32 Td (352) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 185.48 Td (Earnings Per) Tj ET Q q 0 0 0 rg BT 108.71 185.48 Td ( Shar) Tj ET Q q 0 0 0 rg BT 131.59 185.48 Td (e) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 171.32 Td (Basic) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.50 171.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 171.32 Td (0.54) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.50 171.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.65 171.32 Td (0.48) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 157.32 Td (Diluted) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.50 157.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 157.32 Td (0.54) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.50 157.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.65 157.32 Td (0.48) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 143.48 Td (Dividends Declar) Tj ET Q q 0 0 0 rg BT 125.93 143.48 Td (ed Per) Tj ET Q q 0 0 0 rg BT 153.23 143.48 Td ( Shar) Tj ET Q q 0 0 0 rg BT 176.11 143.48 Td (e) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.50 143.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 143.32 Td (0.45) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.50 143.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.65 143.32 Td (0.35) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 118.25 Td (The accompanying notes are an integral part of these consolidated financial statements.) 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(\(UNAUDITED\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 281.10 706.25 Td (\(in millions\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 694.25 Td () Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 647.75 407.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.00 647.75 52.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.00 647.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.00 647.75 50.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 619.75 407.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.00 619.75 52.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.00 619.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.00 619.75 50.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 591.75 407.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.00 591.75 52.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.00 591.75 4.00 -14.00 re f /GS0 gs 0.8 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[] 0 d 0 J 0 j 3 M 513 577.75 m 563 577.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 457 564.75 m 509 564.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 457 562.75 m 509 562.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513 564.75 m 563 564.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513 562.75 m 563 562.75 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 665.00 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 464.00 674.48 Td (Thr) Tj ET Q q 0 0 0 rg BT 480.58 674.48 Td (ee Months Ended) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 481.70 664.48 Td (February 28,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 652.00 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 472.50 651.48 Td (2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 527.50 651.48 Td (2017) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 638.48 Td (Net Income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.50 638.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.15 638.32 Td (391) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.50 638.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.15 638.32 Td (352) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 624.48 Td (Items Included in Other) Tj ET Q q 0 0 0 rg BT 155.38 624.48 Td ( Compr) Tj ET Q q 0 0 0 rg BT 188.25 624.48 Td (ehensive Income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 610.32 Td (Change in foreign currency translation adjustment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.15 610.32 Td (292) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 554.15 610.32 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 596.32 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.15 596.32 Td (3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 596.32 Td (14) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 582.48 Td (Other) Tj ET Q q 0 0 0 rg BT 77.87 582.48 Td ( Compr) Tj ET Q q 0 0 0 rg BT 110.74 582.48 Td (ehensive Income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.15 582.32 Td (295) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 582.32 Td (15) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 568.48 Td (T) Tj ET Q q 0 0 0 rg BT 58.25 568.48 Td (otal Compr) Tj ET Q q 0 0 0 rg BT 107.23 568.48 Td (ehensive Income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.50 568.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.15 568.32 Td (686) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.50 568.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.15 568.32 Td (367) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 543.25 Td (The accompanying notes are an integral part of these consolidated financial statements.) 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rg BT 49.50 694.25 Td () Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 660.75 374.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 660.75 66.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.00 660.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 660.75 66.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 634.75 374.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 634.75 66.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.00 634.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 634.75 66.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 608.75 374.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 608.75 66.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.00 608.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 608.75 66.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 582.75 374.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 582.75 66.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.00 582.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 582.75 66.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 556.75 374.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 556.75 66.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.00 556.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 556.75 66.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 530.75 374.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 530.75 66.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.00 530.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 530.75 66.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 504.75 374.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 504.75 66.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.00 504.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 504.75 66.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 478.75 374.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 478.75 66.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.00 478.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 478.75 66.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 452.75 374.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 452.75 66.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.00 452.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 452.75 66.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 426.75 374.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 426.75 66.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.00 426.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 426.75 66.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 400.75 374.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 400.75 66.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.00 400.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 400.75 66.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 374.75 374.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 374.75 66.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.00 374.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 374.75 66.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 348.75 374.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 348.75 66.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.00 348.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 348.75 66.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 312.75 374.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 312.75 66.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.00 312.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 312.75 66.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 286.75 374.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 286.75 66.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.00 286.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 286.75 66.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 248.75 374.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 248.75 66.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.00 248.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 248.75 66.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 660.75 m 560 660.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424 660.75 m 490 660.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 660.75 m 560 660.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424 582.75 m 490 582.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424 569.75 m 490 569.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 582.75 m 560 582.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 569.75 m 560 569.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424 517.75 m 490 517.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 517.75 m 560 517.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424 505.75 m 490 505.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424 503.75 m 490 503.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 505.75 m 560 505.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 503.75 m 560 503.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424 413.75 m 490 413.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 413.75 m 560 413.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424 400.75 m 490 400.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 400.75 m 560 400.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 400.75 m 560 400.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424 248.75 m 490 248.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 248.75 m 560 248.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424 235.75 m 490 235.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424 223.75 m 490 223.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424 221.75 m 490 221.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 235.75 m 560 235.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 223.75 m 560 223.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 221.75 m 560 221.75 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 665.00 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 428.70 674.48 Td (February 28,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 446.50 664.48 Td (2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 496.85 674.48 Td (November) Tj ET Q q 0 0 0 rg BT 541.10 674.48 Td ( 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 516.50 664.48 Td (2017) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 651.48 Td (ASSETS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 638.48 Td (Curr) Tj ET Q q 0 0 0 rg BT 74.07 638.48 Td (ent ) Tj ET Q q 0 0 0 rg BT 89.53 638.48 Td (Assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 625.32 Td (Cash and cash equivalents) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.50 625.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.15 625.32 Td (453) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.50 625.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 625.32 Td (395) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 612.32 Td (T) Tj ET Q q 0 0 0 rg BT 70.43 612.32 Td (rade and other receivables, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.15 612.32 Td (345) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 612.32 Td (312) Tj ET Q BT /F1 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 64.50 606.25 44.99 -9.09 re f /GS0 gs q 0 0 0 rg BT 64.50 599.32 Td (Inventories) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.15 599.32 Td (394) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 599.32 Td (387) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 586.32 Td (Prepaid expenses and other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.15 586.32 Td (475) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 586.32 Td (502) Tj ET Q BT /F1 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 76.50 580.25 81.87 -9.09 re f /GS0 gs q 0 0 0 rg BT 76.50 573.32 Td ( ) Tj ET Q q 0 0 0 rg BT 81.32 573.32 Td (T) Tj ET Q q 0 0 0 rg BT 86.73 573.32 Td (otal current assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.65 573.32 Td (1,667) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.65 573.32 Td (1,596) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 560.48 Td (Pr) Tj ET Q q 0 0 0 rg BT 62.96 560.48 Td (operty and Equipment, Net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.65 560.32 Td (35,027) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.65 560.32 Td (34,430) Tj ET Q BT /F2 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 52.50 554.25 38.90 -8.93 re f /GS0 gs q 0 0 0 rg BT 52.50 547.48 Td (Goodwill) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.65 547.32 Td (3,014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.65 547.32 Td (2,967) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 534.48 Td (Other) Tj ET Q q 0 0 0 rg BT 77.96 534.48 Td ( Intangibles) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.65 534.32 Td (1,198) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.65 534.32 Td (1,200) Tj ET Q BT /F2 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 52.50 528.25 53.98 -8.93 re f /GS0 gs q 0 0 0 rg BT 52.50 521.48 Td (Other) Tj ET Q q 0 0 0 rg BT 77.87 521.48 Td ( ) Tj ET Q q 0 0 0 rg BT 79.81 521.48 Td (Assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.15 521.32 Td (535) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 521.32 Td (585) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.50 508.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.65 508.32 Td (41,441) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.50 508.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.65 508.32 Td (40,778) Tj ET Q BT /F2 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 52.50 502.25 215.52 -8.93 re f /GS0 gs q 0 0 0 rg BT 52.50 495.48 Td (LIABILITIES ) Tj ET Q q 0 0 0 rg BT 116.15 495.48 Td (AND SHAREHOLDERS) Tj ET Q q 0 0 0 rg BT 226.25 495.48 Td ( EQUITY) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 482.48 Td (Curr) Tj ET Q q 0 0 0 rg BT 74.07 482.48 Td (ent Liabilities) Tj ET Q BT /F1 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 64.50 476.25 91.38 -9.09 re f /GS0 gs q 0 0 0 rg BT 64.50 469.32 Td (Short-term borrowings) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.50 469.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.65 469.32 Td (1,108) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.50 469.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 469.32 Td (485) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 456.32 Td (Current portion of long-term debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.65 456.32 Td (1,006) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.65 456.32 Td (1,717) Tj ET Q BT /F1 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 64.50 450.25 71.36 -9.09 re f /GS0 gs q 0 0 0 rg BT 64.50 443.32 Td (Accounts payable) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.15 443.32 Td (795) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 443.32 Td (762) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 430.32 Td (Accrued liabilities and other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.65 430.32 Td (1,653) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.65 430.32 Td (1,877) Tj ET Q BT /F1 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 64.50 424.25 74.17 -9.09 re f /GS0 gs q 0 0 0 rg BT 64.50 417.32 Td (Customer deposits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.65 417.32 Td (4,288) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.65 417.32 Td (3,958) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.50 404.32 Td ( ) Tj ET Q q 0 0 0 rg BT 81.32 404.32 Td (T) Tj ET Q q 0 0 0 rg BT 86.73 404.32 Td (otal current liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.65 404.32 Td (8,851) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.65 404.32 Td (8,800) Tj ET Q BT /F2 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 52.50 398.25 71.57 -8.93 re f /GS0 gs q 0 0 0 rg BT 52.50 391.48 Td (Long-T) Tj ET Q q 0 0 0 rg BT 83.81 391.48 Td (erm Debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.65 391.32 Td (7,445) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.65 391.32 Td (6,993) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 378.48 Td (Other) Tj ET Q q 0 0 0 rg BT 77.96 378.48 Td ( Long-T) Tj ET Q q 0 0 0 rg BT 112.14 378.48 Td (erm Liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.15 378.32 Td (764) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 378.32 Td (769) Tj ET Q BT /F2 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 52.50 372.25 60.00 -8.93 re f /GS0 gs q 0 0 0 rg BT 52.50 365.48 Td (Contingencies) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 352.48 Td (Shar) Tj ET Q q 0 0 0 rg BT 72.88 352.48 Td (eholders) Tj ET Q q 0 0 0 rg BT 111.58 352.48 Td ( Equity) Tj ET Q BT /F1 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 64.50 346.25 346.60 -9.09 re f /GS0 gs q 0 0 0 rg BT 64.50 339.32 Td (Common stock of Carnival Corporation, $0.01 par value; 1,960 shares authorized; 656) Tj ET Q BT /F1 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 78.00 336.25 178.85 -9.09 re f /GS0 gs q 0 0 0 rg BT 78.00 329.32 Td (shares at 2018 and 655 shares at 2017 issued) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.15 330.42 Td (7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 551.15 330.42 Td (7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 316.32 Td (Ordinary shares of Carnival plc, $1.66 par value; 217 shares at 2018 and 2017 issued) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.15 316.32 Td (358) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 316.32 Td (358) Tj ET Q BT /F1 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 64.50 310.25 102.75 -9.09 re f /GS0 gs q 0 0 0 rg BT 64.50 303.32 Td (Additional paid-in capital) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.65 303.32 Td (8,708) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.65 303.32 Td (8,690) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 290.32 Td (Retained earnings) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.65 290.32 Td (23,360) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.65 290.32 Td (23,292) Tj ET Q BT /F1 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 64.50 284.25 157.45 -9.09 re f /GS0 gs q 0 0 0 rg BT 64.50 277.32 Td (Accumulated other comprehensive loss) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.30 277.37 Td (\(1,486) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.15 277.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.30 277.37 Td (\(1,782) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 556.15 277.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 264.32 Td (T) Tj ET Q q 0 0 0 rg BT 70.26 264.32 Td (reasury stock, 122 shares at 2018 and 2017 of Carnival Corporation and 35 shares at) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.00 254.32 Td (2018 and 32 shares at 2017 of Carnival plc, at cost) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.30 253.47 Td (\(6,565) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.15 253.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.30 253.47 Td (\(6,349) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 556.15 253.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 88.50 246.25 108.34 -9.09 re f /GS0 gs q 0 0 0 rg BT 88.50 239.32 Td ( ) Tj ET Q q 0 0 0 rg BT 93.32 239.32 Td (T) Tj ET Q q 0 0 0 rg BT 98.73 239.32 Td (otal shareholders) Tj ET Q q 0 0 0 rg BT 169.35 239.32 Td ( equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.65 239.32 Td (24,382) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.65 239.32 Td (24,216) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.50 226.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.65 226.32 Td (41,441) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.50 226.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.65 226.32 Td (40,778) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 202.25 Td (The accompanying notes are an integral part of these consolidated financial statements.) Tj ET Q endstream endobj 13 0 obj <>] /Rotate 0 /Contents 14 0 R>> endobj 14 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 31.60 Td (6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 224.35 742.25 Td (CARNIV) Tj ET Q q 0 0 0 rg BT 263.06 742.25 Td (AL) Tj ET Q q 0 0 0 rg BT 276.40 742.25 Td ( CORPORA) Tj ET Q q 0 0 0 rg BT 328.71 742.25 Td (TION& PLC) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 188.65 730.25 Td (CONSOLIDA) Tj ET Q q 0 0 0 rg BT 248.47 730.25 Td (TED ST) Tj ET Q q 0 0 0 rg BT 283.02 730.25 Td (A) Tj ET Q q 0 0 0 rg BT 289.50 730.25 Td (TEMENTS OF) Tj ET Q q 0 0 0 rg BT 354.42 730.25 Td ( CASH FLOWS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 272.35 718.25 Td (\(UNAUDITED\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 281.10 706.25 Td (\(in millions\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 694.25 Td () Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 647.75 364.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 414.00 647.75 48.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.00 647.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.00 647.75 49.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 621.75 364.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 414.00 621.75 48.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.00 621.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.00 621.75 49.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 595.75 364.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 414.00 595.75 48.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.00 595.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.00 595.75 49.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 569.75 364.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 414.00 569.75 48.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.00 569.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.00 569.75 49.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 543.75 364.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 414.00 543.75 48.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.00 543.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.00 543.75 49.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 517.75 364.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 414.00 517.75 48.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.00 517.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.00 517.75 49.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 491.75 364.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 414.00 491.75 48.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.00 491.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.00 491.75 49.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 465.75 364.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 414.00 465.75 48.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.00 465.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.00 465.75 49.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 439.75 364.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 414.00 439.75 48.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.00 439.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.00 439.75 49.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 413.75 364.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 414.00 413.75 48.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.00 413.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.00 413.75 49.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 387.75 364.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 414.00 387.75 48.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.00 387.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.00 387.75 49.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 361.75 364.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 414.00 361.75 48.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.00 361.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.00 361.75 49.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 335.75 364.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 414.00 335.75 48.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.00 335.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.00 335.75 49.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 309.75 364.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 414.00 309.75 48.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.00 309.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.00 309.75 49.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 283.75 364.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 414.00 283.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.00 283.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.00 283.75 49.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 255.75 364.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 414.00 255.75 48.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.00 255.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.00 255.75 49.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 229.75 364.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 414.00 229.75 48.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.00 229.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.00 229.75 49.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 414 659.75 m 462 659.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 462 659.75 m 466 659.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466 659.75 m 515 659.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 414 647.75 m 462 647.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466 647.75 m 515 647.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 414 556.75 m 462 556.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466 556.75 m 515 556.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 414 452.75 m 462 452.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466 452.75 m 515 452.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 414 452.75 m 462 452.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 414 439.75 m 462 439.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466 439.75 m 515 439.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 414 387.75 m 462 387.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 414 374.75 m 462 374.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466 387.75 m 515 387.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466 374.75 m 515 374.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 414 374.75 m 462 374.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466 374.75 m 515 374.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 414 283.75 m 462 283.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466 283.75 m 515 283.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 414 283.75 m 462 283.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 414 268.75 m 462 268.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466 283.75 m 515 283.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466 268.75 m 515 268.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 414 255.75 m 462 255.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466 255.75 m 515 255.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 414 255.75 m 462 255.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 414 229.75 m 462 229.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466 229.75 m 515 229.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 414 217.75 m 462 217.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 414 215.75 m 462 215.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466 229.75 m 515 229.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466 217.75 m 515 217.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466 215.75 m 515 215.75 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 664.00 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 418.50 674.48 Td (Thr) Tj ET Q q 0 0 0 rg BT 434.99 674.48 Td (ee Months Ended) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 436.20 664.48 Td (February 28,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 651.70 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 427.50 650.48 Td (2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 480.00 650.48 Td (2017) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 638.48 Td (OPERA) Tj ET Q q 0 0 0 rg BT 87.13 638.48 Td (TING ) Tj ET Q q 0 0 0 rg BT 114.54 638.48 Td (ACTIVITIES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 625.32 Td (Net income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.50 625.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.15 625.32 Td (391) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.50 625.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.15 625.32 Td (352) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 612.32 Td (Adjustments to reconcile net income to net cash provided by operating activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 599.32 Td (Depreciation and amortization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.15 599.32 Td (488) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.15 599.32 Td (439) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 586.32 Td (Gains on fuel derivatives, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.80 586.37 Td (\(16) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.15 586.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.80 586.37 Td (\(27) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.15 586.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 573.32 Td (Share-based compensation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.15 573.32 Td (18) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.15 573.32 Td (20) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 560.32 Td (Other) Tj ET Q q 0 0 0 rg BT 87.07 560.32 Td (, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.15 560.32 Td (24) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.15 560.32 Td (20) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.15 547.32 Td (904) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.15 547.32 Td (804) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 534.32 Td (Changes in operating assets and liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 521.32 Td (Receivables) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.80 521.37 Td (\(30) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.15 521.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.80 521.37 Td (\(2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.15 521.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 508.32 Td (Inventories) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.15 508.32 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.80 508.37 Td (\(35) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.15 508.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 495.32 Td (Prepaid expenses and other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.15 495.32 Td (98) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.80 495.37 Td (\(10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.15 495.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 482.32 Td (Accounts payable) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.15 482.32 Td (19) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.80 482.37 Td (\(47) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.15 482.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 469.32 Td (Accrued liabilities and other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.80 469.37 Td (\(198) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.15 469.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.15 469.32 Td (3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 456.32 Td (Customer deposits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.15 456.32 Td (271) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.15 456.32 Td (219) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.50 443.32 Td (Net cash provided by operating activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.65 443.32 Td (1,064) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.15 443.32 Td (932) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 430.48 Td (INVESTING ) Tj ET Q q 0 0 0 rg BT 110.85 430.48 Td (ACTIVITIES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 417.32 Td (Purchases of property and equipment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.80 417.37 Td (\(574) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.15 417.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.80 417.37 Td (\(412) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.15 417.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 404.32 Td (Payments of fuel derivative settlements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.80 404.37 Td (\(21) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.15 404.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.80 404.37 Td (\(52) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.15 404.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 391.32 Td (Other) Tj ET Q q 0 0 0 rg BT 75.07 391.32 Td (, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.15 391.32 Td (4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.80 391.37 Td (\(10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.15 391.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.50 378.32 Td (Net cash used in investing activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.80 378.37 Td (\(591) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.15 378.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.80 378.37 Td (\(474) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.15 378.32 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 365.48 Td (FINANCING ) Tj ET Q q 0 0 0 rg BT 112.23 365.48 Td (ACTIVITIES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 352.32 Td (Proceeds from \(repayments of\) short-term borrowings, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.15 352.32 Td (61) Tj ET Q q 0 0 0 rg BT 453.15 352.32 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.80 352.37 Td (\(289) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.15 352.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 339.32 Td (Principal repayments of long-term debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.80 339.37 Td (\(963) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.15 339.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.80 339.37 Td (\(101) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.15 339.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 326.32 Td (Proceeds from issuance of long-term debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.15 326.32 Td (469) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.15 326.32 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 313.32 Td (Dividends paid) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.80 313.37 Td (\(323) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.15 313.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.80 313.37 Td (\(254) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.15 313.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 300.32 Td (Purchases of treasury stock) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.80 300.37 Td (\(218) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.15 300.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.80 300.37 Td (\(69) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.15 300.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 287.32 Td (Other) Tj ET Q q 0 0 0 rg BT 75.07 287.32 Td (, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.80 287.37 Td (\(4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.15 287.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.80 287.37 Td (\(2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.15 287.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 274.32 Td (Net cash used in financing activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.80 273.47 Td (\(428) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.15 273.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.80 273.47 Td (\(615) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.15 273.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 259.32 Td (Ef) Tj ET Q q 0 0 0 rg BT 61.85 259.32 Td (fect of exchange rate changes on cash and cash equivalents) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.15 259.32 Td (12) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.80 259.37 Td (\(9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.15 259.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 246.32 Td (Net increase \(decrease\) in cash and cash equivalents) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.15 246.32 Td (58) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.80 246.37 Td (\(166) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.15 246.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 233.32 Td (Cash and cash equivalents at beginning of period) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.15 233.32 Td (395) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.15 233.32 Td (603) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 220.32 Td (Cash and cash equivalents at end of period) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.50 220.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.15 220.32 Td (453) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.50 220.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.15 220.32 Td (437) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 196.25 Td (The accompanying notes are an integral part of these consolidated financial statements.) Tj ET Q endstream endobj 15 0 obj <>] /Rotate 0 /Contents 16 0 R>> endobj 16 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 31.60 Td (7) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 224.35 742.25 Td (CARNIV) Tj ET Q q 0 0 0 rg BT 263.06 742.25 Td (AL) Tj ET Q q 0 0 0 rg BT 276.40 742.25 Td ( CORPORA) Tj ET Q q 0 0 0 rg BT 328.71 742.25 Td (TION& PLC) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 175.30 730.25 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 211.52 730.25 Td (T) Tj ET Q q 0 0 0 rg BT 218.01 730.25 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 288.11 730.25 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 367.29 730.25 Td ( ST) Tj ET Q q 0 0 0 rg BT 381.28 730.25 Td (A) Tj ET Q q 0 0 0 rg BT 387.76 730.25 Td (TEMENTS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 272.35 718.25 Td (\(UNAUDITED\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 706.25 Td (NOTE 1 General ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 682.25 Td (The consolidated financial statements include the accounts of Carnival Corporation and Carnival plc and their respective ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 670.25 Td (subsidiaries.) Tj ET Q q 0 0 0 rg BT 101.54 670.25 Td (T) Tj ET Q q 0 0 0 rg BT 106.95 670.25 Td (ogether with their consolidated subsidiaries, they are referred to collectively in these consolidated financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 658.25 Td (statements and elsewhere in this joint Quarterly Report on Form 10-Q as Carnival Corporation& plc, our) Tj ET Q q 0 0 0 rg BT 484.27 658.25 Td (, us and we.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 634.25 Td ( Basis of Presentation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 613.25 Td (The Consolidated Statements of Income and the Consolidated Statements of Comprehensive Income for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.28 613.25 Td (three months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 601.25 Td (February 28, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 123.10 601.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 142.54 601.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 162.54 601.25 Td (, the Consolidated Balance Sheet at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.66 601.25 Td (February28, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.26 601.25 Td ( and the Consolidated Statements of Cash ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 589.25 Td (Flows for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 105.33 589.25 Td (three months ended February 28, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.74 589.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 279.18 589.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 299.18 589.25 Td ( are unaudited and, in the opinion of our management, contain all ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 577.25 Td (adjustments, consisting of only normal recurring adjustments, necessary for a fair statement. Our interim consolidated financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 565.25 Td (statements should be read in conjunction with the audited consolidated financial statements and the related notes included in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 553.25 Td (Carnival Corporation & plc ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 162.25 553.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 182.25 553.25 Td ( joint ) Tj ET Q q 0 0 0 rg BT 205.04 553.25 Td (Annual Report on Form 10-K \(Form 10-K\) filed with the U.S. Securities and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 541.25 Td (Exchange Commission on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 156.99 541.25 Td (January29, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.59 541.25 Td (. Our operations are seasonal and results for interim periods are not necessarily ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 529.25 Td (indicative of the results for the entire year) Tj ET Q q 0 0 0 rg BT 216.38 529.25 Td (. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 517.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 505.25 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 62.00 505.25 Td (Accounting Pronouncements ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 481.25 Td (The Financial ) Tj ET Q q 0 0 0 rg BT 106.71 481.25 Td (Accounting Standards Board \(the F) Tj ET Q q 0 0 0 rg BT 252.04 481.25 Td (ASB\) issued amended guidance, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 388.95 481.25 Td (Compensation - Retir) Tj ET Q q 0 0 0 rg BT 474.69 481.25 Td (ement Benefits - ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 49.50 469.25 Td (Impr) Tj ET Q q 0 0 0 rg BT 68.57 469.25 Td (oving the Pr) Tj ET Q q 0 0 0 rg BT 117.63 469.25 Td (esentation of Net Periodic Pension Cost and Net Periodic Postr) Tj ET Q q 0 0 0 rg BT 372.51 469.25 Td (etir) Tj ET Q q 0 0 0 rg BT 386.03 469.25 Td (ement Benefit Cost) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.57 469.25 Td (, which requires the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 457.25 Td (bifurcation of service costs and other components of net benefit cost. ) Tj ET Q q 0 0 0 rg BT 327.57 457.25 Td (The presentation of the other components of net benefit ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 445.25 Td (cost have been recorded in other income. On December 1, 2017, we adopted this guidance using the retrospective transition ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 433.25 Td (method for the presentation of the service cost component and other components of net benefit cost. ) Tj ET Q q 0 0 0 rg BT 451.70 433.25 Td (The impact of adopting this ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 421.25 Td (guidance was immaterial to our consolidated financial statements, and as such, prior period information was not revised. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 397.25 Td (The F) Tj ET Q q 0 0 0 rg BT 72.37 397.25 Td (ASBissued guidance, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 162.91 397.25 Td (Revenue fr) Tj ET Q q 0 0 0 rg BT 205.57 397.25 Td (om Contracts with Customers) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 324.75 397.25 Td (, which requires an entity to recognize the amount of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 385.25 Td (revenue to which it expects to be entitled for the transfer of promised goods or services to customers. ) Tj ET Q q 0 0 0 rg BT 456.15 385.25 Td (When ef) Tj ET Q q 0 0 0 rg BT 490.11 385.25 Td (fective, this ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 373.25 Td (standard will replace most existing revenue recognition guidance in U.S. generally accepted accounting principles \(U.S. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 361.25 Td (GAAP\). ) Tj ET Q q 0 0 0 rg BT 89.31 361.25 Td (The standard also requires more detailed disclosures and provides additional guidance for transactions that were not ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 349.25 Td (comprehensively addressed in U.S. GAAP) Tj ET Q q 0 0 0 rg BT 218.92 349.25 Td (. ) Tj ET Q q 0 0 0 rg BT 223.74 349.25 Td (This guidance is required to be adopted by us in the first quarter of 2019 and can be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 337.25 Td (applied using either a retrospective or a modified retrospective approach. Based on our assessment to date, the adoption of this ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 325.25 Td (guidance is not expected to have a material impact to the timing of our recognition of revenue and will require additional ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 313.25 Td (disclosures. ) Tj ET Q q 0 0 0 rg BT 98.76 313.25 Td (W) Tj ET Q q 0 0 0 rg BT 107.40 313.25 Td (e are currently evaluating if this guidance will have any other impact on our consolidated financial statements. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 289.25 Td (The F) Tj ET Q q 0 0 0 rg BT 72.37 289.25 Td (ASB issued amended guidance, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 201.51 289.25 Td (Business Combinations - Clarifying the Definition of a Business) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.62 289.25 Td (,) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 460.12 289.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.62 289.25 Td (which assists entities ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 277.25 Td (with evaluating whether transactions should be accounted for as acquisitions \(or disposals\) of assets or businesses. ) Tj ET Q q 0 0 0 rg BT 509.50 277.25 Td (This ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 265.25 Td (guidance is required to be adopted by us in the first quarter of 2019 on a prospective basis. Early adoption is permitted, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 253.25 Td (including adoption in an interim period. ) Tj ET Q q 0 0 0 rg BT 211.23 253.25 Td (The adoption of this guidance is not expected to have a material impact to our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 241.25 Td (consolidated financial statements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 217.25 Td (The F) Tj ET Q q 0 0 0 rg BT 72.37 217.25 Td (ASB issued amended guidance, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 201.51 217.25 Td (Statement of Cash Flows - Classification of Certain Cash Receipts and Cash Payments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.83 217.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 205.25 Td (which clarifies how certain cash receipts and cash payments are presented and classified in the statement of cash flows. ) Tj ET Q q 0 0 0 rg BT 529.14 205.25 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 193.25 Td (amendments are aimed at reducing the existing diversity in practice. ) Tj ET Q q 0 0 0 rg BT 324.50 193.25 Td (This guidance is required to be adopted by us in the first ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 181.25 Td (quarter of 2019 and must be applied using a retrospective approach for each period presented. Early adoption is permitted, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 169.25 Td (including adoption in an interim period. ) Tj ET Q q 0 0 0 rg BT 211.23 169.25 Td (The adoption of this guidance is not expected to have a material impact to our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 157.25 Td (consolidated financial statements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 133.25 Td (The F) Tj ET Q q 0 0 0 rg BT 72.37 133.25 Td (ASB issued amended guidance, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 201.51 133.25 Td (Statement of Cash Flows - Restricted Cash) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.16 133.25 Td (, which requires restricted cash to be presented ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 121.25 Td (with cash and cash equivalents in the statement of cash flows. ) Tj ET Q q 0 0 0 rg BT 299.25 121.25 Td (This guidance is required to be adopted by us in the first quarter ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 109.25 Td (of 2019 and must be applied using a retrospective approach to each period presented. Early adoption is permitted, including ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 97.25 Td (adoption in an interim period. ) Tj ET Q q 0 0 0 rg BT 170.96 97.25 Td (The adoption of this guidance is not expected to have a material impact to our consolidated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 85.25 Td (financial statements. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 60.05 Td (The F) Tj ET Q q 0 0 0 rg BT 72.37 60.05 Td (ASB issued amended guidance, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 201.51 60.05 Td (Service Concession ) Tj ET Q q 0 0 0 rg BT 281.86 60.05 Td (Arrangements,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.02 60.05 Td ( which clarifies that the grantor in a service ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 48.05 Td (arrangement should be considered the customer of the operating entity in all cases. ) Tj ET Q q 0 0 0 rg BT 382.54 48.05 Td (This guidance is required to be adopted by ) Tj ET Q endstream endobj 17 0 obj <>] /Rotate 0 /Contents 18 0 R>> endobj 18 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 31.60 Td (8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 742.10 Td (us in the first quarter of 2019 and can be applied using either a retrospective or a modified retrospective approach. ) Tj ET Q q 0 0 0 rg BT 508.32 742.10 Td (W) Tj ET Q q 0 0 0 rg BT 516.96 742.10 Td (e are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 730.10 Td (currently evaluating the impact this guidance will have on our consolidated financial statements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 706.10 Td (The F) Tj ET Q q 0 0 0 rg BT 72.37 706.10 Td (ASB issued guidance, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 162.91 706.10 Td (Leases) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.13 706.10 Td (, which requires an entity to recognize both assets and liabilities arising from financing and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 694.10 Td (operating leases, along with additional qualitative and quantitative disclosures. ) Tj ET Q q 0 0 0 rg BT 366.74 694.10 Td (This guidance is required to be adopted by us in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 682.10 Td (the first quarter of 2020 and must be applied using a modified retrospective approach. Early adoption is permitted. Based on our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 670.10 Td (assessment to date, the initial adoption of this guidance is expected to increase both our total assets and total liabilities and will ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 658.10 Td (require additional disclosures. ) Tj ET Q q 0 0 0 rg BT 172.06 658.10 Td (W) Tj ET Q q 0 0 0 rg BT 180.70 658.10 Td (e are currently evaluating if this guidance will have any other impact on our consolidated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 646.10 Td (financial statements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 622.10 Td (The F) Tj ET Q q 0 0 0 rg BT 72.37 622.10 Td (ASB issued guidance, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 162.91 622.10 Td (Derivatives and Hedging) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 263.45 622.10 Td (, which tar) Tj ET Q q 0 0 0 rg BT 305.75 622.10 Td (geted improvements to accounting for hedging activities such ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 610.10 Td (as hedging strategies, ef) Tj ET Q q 0 0 0 rg BT 145.40 610.10 Td (fectiveness assessments, and recognition of derivative gains or losses. ) Tj ET Q q 0 0 0 rg BT 427.09 610.10 Td (This guidance is required to be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 598.10 Td (adopted by us in the first quarter of 2020 and must be applied using a modified retrospective approach. Early adoption is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 586.10 Td (permitted. ) Tj ET Q q 0 0 0 rg BT 92.64 586.10 Td (W) Tj ET Q q 0 0 0 rg BT 101.28 586.10 Td (e are currently evaluating the impact this guidance will have on our consolidated financial statements.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 562.10 Td ( Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 538.10 Td (Cruise passenger ticket revenues include fees, taxes and char) Tj ET Q q 0 0 0 rg BT 292.83 538.10 Td (ges collected by us from our guests. ) Tj ET Q q 0 0 0 rg BT 438.73 538.10 Td (The portion of these fees, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 526.10 Td (taxes and char) Tj ET Q q 0 0 0 rg BT 106.51 526.10 Td (ges included in passenger ticket revenues and commissions, transportation and other costs were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.85 526.10 Td ($148 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.24 526.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 514.10 Td ($143 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 100.89 514.10 Td ( for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 132.27 514.10 Td (three months ended February 28, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 286.68 514.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.12 514.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.12 514.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 378.78 514.10 Td (. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 490.10 Td (NOTE 2 Unsecur) Tj ET Q q 0 0 0 rg BT 130.71 490.10 Td (ed Debt ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 466.10 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 466.10 Td (February28, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.60 466.10 Td (, our short-term borrowings consisted of euro- and U.S. dollar) Tj ET Q q 0 0 0 rg BT 383.13 466.10 Td (-denominated commercial paper of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.34 466.10 Td ($862 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 454.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.39 454.10 Td ( and a euro-denominated bank loan of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.50 454.10 Td ($246 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.89 454.10 Td ( due in 2019. For the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.72 454.10 Td (three months ended February 28, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.13 454.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 442.10 Td (2017, we had borrowings of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 164.48 442.10 Td ($2 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 205.87 442.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.31 442.10 Td ($1) Tj ET Q q 0 0 0 rg BT 234.94 442.10 Td (1) Tj ET Q q 0 0 0 rg BT 239.57 442.10 Td (1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 275.96 442.10 Td ( and repayments of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.82 442.10 Td ($0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.82 442.10 Td ( million and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.65 442.10 Td ($240 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.04 442.10 Td ( of commercial paper ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 430.10 Td (with original maturities greater than three months.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 406.10 Td (In December 2017, we borrowed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 183.89 406.10 Td ($469 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 235.29 406.10 Td ( under a sterling-denominated floating rate bank loan due in 2022 and repaid a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 394.10 Td ($500 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 100.89 394.10 Td ( bond.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 370.10 Td (In January 2018, we repaid ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 160.57 370.10 Td ($365 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 211.97 370.10 Td ( of euro-denominated floating rate bank loans prior to their 2018 and 2021 maturity ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 358.10 Td (dates.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 334.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.14 334.10 Td (e use the net proceeds from our borrowings for payments related to the purchases of new ships and general corporate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 322.10 Td (purposes.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 298.10 Td (NOTE 3 Contingencies) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 277.10 Td (Litigation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 256.10 Td (In the normal course of our business, various claims and lawsuits have been filed or are pending against us. Most of these ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 244.10 Td (claims and lawsuits are covered by insurance and the maximum amount of our liability) Tj ET Q q 0 0 0 rg BT 396.81 244.10 Td (, net of any insurance recoverables, is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 232.10 Td (typically limited to our self-insurance retention levels. ) Tj ET Q q 0 0 0 rg BT 268.70 232.10 Td (W) Tj ET Q q 0 0 0 rg BT 277.34 232.10 Td (e believe the ultimate outcome of these claims and lawsuits will not ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 220.10 Td (have a material impact on our consolidated financial statements. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 199.10 Td (Contingent Obligations Indemnifications) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 178.10 Td (Some of the debt contracts we enter into include indemnification provisions obligating us to make payments to the counterparty ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 166.10 Td (if certain events occur) Tj ET Q q 0 0 0 rg BT 137.51 166.10 Td (. ) Tj ET Q q 0 0 0 rg BT 142.33 166.10 Td (These contingencies generally relate to changes in taxes or changes in laws which increase our lender) Tj ET Q q 0 0 0 rg BT 548.93 166.10 Td () Tj ET Q q 0 0 0 rg BT 551.71 166.10 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 154.10 Td (costs. ) Tj ET Q q 0 0 0 rg BT 74.32 154.10 Td (There are no stated or notional amounts included in the indemnification clauses, and we are not able to estimate the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 142.10 Td (maximum potential amount of future payments, if any) Tj ET Q q 0 0 0 rg BT 265.47 142.10 Td (, under these indemnification clauses. ) Tj ET Q endstream endobj 19 0 obj <>] /Rotate 0 /Contents 20 0 R>> endobj 20 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 31.60 Td (9) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 742.25 Td (NOTE 4 Fair) Tj ET Q q 0 0 0 rg BT 113.48 742.25 Td ( ) Tj ET Q q 0 0 0 rg BT 115.80 742.25 Td (V) Tj ET Q q 0 0 0 rg BT 122.11 742.25 Td (alue Measur) Tj ET Q q 0 0 0 rg BT 174.97 742.25 Td (ements, Derivative Instruments and Hedging ) Tj ET Q q 0 0 0 rg BT 368.30 742.25 Td (Activities and Financial Risks) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 721.25 Td (Fair) Tj ET Q q 0 0 0 rg BT 67.64 721.25 Td ( ) Tj ET Q q 0 0 0 rg BT 69.96 721.25 Td (V) Tj ET Q q 0 0 0 rg BT 76.27 721.25 Td (alue Measur) Tj ET Q q 0 0 0 rg BT 129.13 721.25 Td (ements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 704.25 Td (Fair value is defined as the amount that would be received for selling an asset or paid to transfer a liability in an orderly ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 692.25 Td (transaction between market participants at the measurement date and is measured using inputs in one of the following three ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 680.25 Td (categories:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 659.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 659.25 Td (Level 1 measurements are based on unadjusted quoted prices in active markets for identical assets or liabilities that we ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 647.25 Td (have the ability to access. ) Tj ET Q q 0 0 0 rg BT 190.28 647.25 Td (V) Tj ET Q q 0 0 0 rg BT 196.39 647.25 Td (aluation of these items does not entail a significant amount of judgment.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 626.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 626.25 Td (Level 2 measurements are based on quoted prices for similar assets or liabilities in active markets, quoted prices for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 614.25 Td (identical or similar assets or liabilities in markets that are not active or market data other than quoted prices that are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 602.25 Td (observable for the assets or liabilities.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 581.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 581.25 Td (Level 3 measurements are based on unobservable data that are supported by little or no market activity and are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 569.25 Td (significant to the fair value of the assets or liabilities.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 548.25 Td (Considerable judgment may be required in interpreting market data used to develop the estimates of fair value. ) Tj ET Q q 0 0 0 rg BT 494.36 548.25 Td (Accordingly) Tj ET Q q 0 0 0 rg BT 543.69 548.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 536.25 Td (certain estimates of fair value presented herein are not necessarily indicative of the amounts that could be realized in a current ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 524.25 Td (or future market exchange.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 67.50 500.25 Td (Financial Instruments that are not Measured at Fair V) Tj ET Q q 0 0 0 rg BT 293.67 500.25 Td (alue on a Recurring Basis) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 401.47 500.25 Td () Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 447.75 165.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 215.00 447.75 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 261.00 447.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.00 447.75 38.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 303.00 447.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 307.00 447.75 38.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 345.00 447.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.00 447.75 38.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 387.00 447.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 391.00 447.75 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.00 447.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.00 447.75 38.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 479.00 447.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.00 447.75 38.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 521.00 447.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 525.00 447.75 38.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 417.75 165.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 215.00 417.75 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 261.00 417.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.00 417.75 38.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 303.00 417.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 307.00 417.75 38.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 345.00 417.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.00 417.75 38.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 387.00 417.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 391.00 417.75 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.00 417.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.00 417.75 38.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 479.00 417.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.00 417.75 38.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 521.00 417.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 525.00 417.75 38.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 387.75 165.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 215.00 387.75 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 261.00 387.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.00 387.75 38.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 303.00 387.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 307.00 387.75 38.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 345.00 387.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.00 387.75 38.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 387.00 387.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 391.00 387.75 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.00 387.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.00 387.75 38.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 479.00 387.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.00 387.75 38.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 521.00 387.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 525.00 387.75 38.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 357.75 165.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 215.00 357.75 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 261.00 357.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.00 357.75 38.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 303.00 357.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 307.00 357.75 38.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 345.00 357.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.00 357.75 38.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 387.00 357.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 391.00 357.75 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.00 357.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.00 357.75 38.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 479.00 357.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.00 357.75 38.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 521.00 357.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 525.00 357.75 38.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 215 475.75 m 261 475.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 261 475.75 m 265 475.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 265 475.75 m 303 475.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 303 475.75 m 307 475.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 307 475.75 m 345 475.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 345 475.75 m 349 475.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 349 475.75 m 387 475.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 391 475.75 m 437 475.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437 475.75 m 441 475.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441 475.75 m 479 475.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 479 475.75 m 483 475.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483 475.75 m 521 475.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 521 475.75 m 525 475.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 525 475.75 m 563 475.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 265 461.75 m 303 461.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 303 461.75 m 307 461.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 307 461.75 m 345 461.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 345 461.75 m 349 461.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 349 461.75 m 387 461.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441 475.75 m 479 475.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441 461.75 m 479 461.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 479 475.75 m 483 475.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 479 461.75 m 483 461.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483 475.75 m 521 475.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483 461.75 m 521 461.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 521 475.75 m 525 475.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 521 461.75 m 525 461.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 525 475.75 m 563 475.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 525 461.75 m 563 461.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 215 447.75 m 261 447.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 265 447.75 m 303 447.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 307 447.75 m 345 447.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 349 461.75 m 387 461.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 349 447.75 m 387 447.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 391 447.75 m 437 447.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441 447.75 m 479 447.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483 447.75 m 521 447.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 525 461.75 m 563 461.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 525 447.75 m 563 447.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 215 417.75 m 261 417.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 265 417.75 m 303 417.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 307 417.75 m 345 417.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 349 417.75 m 387 417.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 391 417.75 m 437 417.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441 417.75 m 479 417.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483 417.75 m 521 417.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 525 417.75 m 563 417.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 215 403.75 m 261 403.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 215 401.75 m 261 401.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 265 403.75 m 303 403.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 265 401.75 m 303 401.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 307 403.75 m 345 403.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 307 401.75 m 345 401.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 349 403.75 m 387 403.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 349 401.75 m 387 401.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 391 403.75 m 437 403.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 391 401.75 m 437 401.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441 403.75 m 479 403.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441 401.75 m 479 401.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483 403.75 m 521 403.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483 401.75 m 521 401.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 525 403.75 m 563 403.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 525 401.75 m 563 401.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 215 357.75 m 261 357.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 265 357.75 m 303 357.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 307 357.75 m 345 357.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 349 357.75 m 387 357.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 391 357.75 m 437 357.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441 357.75 m 479 357.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483 357.75 m 521 357.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 215 357.75 m 261 357.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 215 343.75 m 261 343.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 215 341.75 m 261 341.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 265 357.75 m 303 357.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 265 343.75 m 303 343.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 265 341.75 m 303 341.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 307 357.75 m 345 357.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 307 343.75 m 345 343.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 307 341.75 m 345 341.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 349 357.75 m 387 357.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 349 343.75 m 387 343.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 349 341.75 m 387 341.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 391 343.75 m 437 343.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 391 341.75 m 437 341.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441 343.75 m 479 343.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441 341.75 m 479 341.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483 343.75 m 521 343.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483 341.75 m 521 341.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 525 357.75 m 563 357.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 525 343.75 m 563 343.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 525 341.75 m 563 341.75 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 480.00 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 261.45 480.43 Td (February 28, 2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 435.60 480.43 Td (November) Tj ET Q q 0 0 0 rg BT 479.94 480.43 Td ( 30, 2017) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 466.00 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 217.75 462.43 Td (Carrying) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 225.45 452.43 Td (V) Tj ET Q q 0 0 0 rg BT 232.21 452.43 Td (alue) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 303.20 466.43 Td (Fair) Tj ET Q q 0 0 0 rg BT 321.43 466.43 Td () Tj ET Q q 0 0 0 rg BT 323.75 466.43 Td (V) Tj ET Q q 0 0 0 rg BT 330.43 466.43 Td (alue) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 393.75 462.43 Td (Carrying) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 401.45 452.43 Td (V) Tj ET Q q 0 0 0 rg BT 408.21 452.43 Td (alue) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 479.20 466.43 Td (Fair) Tj ET Q q 0 0 0 rg BT 497.43 466.43 Td () Tj ET Q q 0 0 0 rg BT 499.75 466.43 Td (V) Tj ET Q q 0 0 0 rg BT 506.43 466.43 Td (alue) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 52.50 452.31 Td (\(in millions\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 268.05 452.43 Td (Level1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 310.05 452.43 Td (Level2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 352.05 452.43 Td (Level 3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 444.05 452.43 Td (Level 1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 486.05 452.43 Td (Level2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 528.05 452.43 Td (Level 3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 438.32 Td (Assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 423.32 Td (Long-term other assets \(a\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 217.50 422.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 242.15 422.42 Td (1) Tj ET Q q 0 0 0 rg BT 247.15 422.42 Td (17) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 267.50 422.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.15 422.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 309.50 422.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.15 422.42 Td (43) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 422.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.15 422.42 Td (71) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.50 422.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.15 422.42 Td (126) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.50 422.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.15 422.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.50 422.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.15 422.42 Td (49) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.50 422.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 422.42 Td (75) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.50 408.32 Td (T) Tj ET Q q 0 0 0 rg BT 82.26 408.32 Td (otal) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 217.50 407.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 242.15 407.42 Td (1) Tj ET Q q 0 0 0 rg BT 247.15 407.42 Td (17) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 267.50 407.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.15 407.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 309.50 407.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.15 407.42 Td (43) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 407.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.15 407.42 Td (71) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.50 407.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.15 407.42 Td (126) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.50 407.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.15 407.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.50 407.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.15 407.42 Td (49) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.50 407.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 407.42 Td (75) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 393.32 Td (Liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 378.32 Td (Fixed rate debt \(b\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 217.50 377.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 234.65 377.42 Td (5,168) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 267.50 377.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.15 377.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 309.50 377.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.60 377.42 Td (5,418) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 377.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.15 377.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.50 377.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.65 377.42 Td (5,588) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.50 377.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.15 377.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.50 377.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.60 377.42 Td (5,892) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.50 377.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 377.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 363.32 Td (Floating rate debt \(b\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 234.65 362.42 Td (4,442) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.15 362.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.60 362.42 Td (4,488) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.15 362.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.65 362.42 Td (3,658) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.15 362.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.60 362.42 Td (3,697) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 362.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.50 348.32 Td (T) Tj ET Q q 0 0 0 rg BT 81.91 348.32 Td (otal) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 217.50 347.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 234.65 347.42 Td (9,610) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 267.50 347.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.15 347.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 309.50 347.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.60 347.42 Td (9,906) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 347.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.15 347.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.50 347.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.65 347.42 Td (9,246) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.50 347.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.15 347.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.50 347.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.60 347.42 Td (9,589) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.50 347.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 347.42 Td () Tj ET Q BT /F1 10.00 Tf ET BT /F1 9.00 Tf ET q 0 0 0 rg BT 49.50 332.45 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 320.45 Td (\(a\) ) Tj ET Q q 0 0 0 rg BT 76.50 320.45 Td (Long-term other assets are comprised of notes receivable. ) Tj ET Q q 0 0 0 rg BT 309.84 320.45 Td (The fair values of our Level 2 notes receivable were based on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.50 308.45 Td (estimated future cash flows discounted at appropriate market interest rates. ) Tj ET Q q 0 0 0 rg BT 378.16 308.45 Td (The fair values of our Level 3 notes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.50 296.45 Td (receivable were estimated using risk-adjusted discount rates.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 284.45 Td (\(b\) ) Tj ET Q q 0 0 0 rg BT 76.50 284.45 Td (The debt amounts above do not include the impact of interest rate swaps or debt issuance costs. ) Tj ET Q q 0 0 0 rg BT 460.10 284.45 Td (The fair values of our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.50 272.45 Td (publicly-traded notes were based on their unadjusted quoted market prices in markets that are not suf) Tj ET Q q 0 0 0 rg BT 480.36 272.45 Td (ficiently active to be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.50 260.45 Td (Level 1 and, accordingly) Tj ET Q q 0 0 0 rg BT 175.25 260.45 Td (, are considered Level 2. ) Tj ET Q q 0 0 0 rg BT 275.86 260.45 Td (The fair values of our other debt were estimated based on current ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.50 248.45 Td (market interest rates being applied to this debt.) Tj ET Q endstream endobj 21 0 obj <>] /Rotate 0 /Contents 22 0 R>> endobj 22 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (10) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 67.50 742.25 Td (Financial Instruments that are Measured at Fair V) Tj ET Q q 0 0 0 rg BT 277.83 742.25 Td (alue on a Recurring Basis) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 702.75 253.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 303.00 702.75 40.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.00 702.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 347.00 702.75 40.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 387.00 702.75 4.00 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gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.00 672.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 672.75 40.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 475.00 672.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 479.00 672.75 40.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 519.00 672.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 523.00 672.75 40.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 642.75 253.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 303.00 642.75 40.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.00 642.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 347.00 642.75 40.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 387.00 642.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 391.00 642.75 40.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.00 642.75 4.00 -15.00 re f /GS0 gs 0.8 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1 rg /GS0 gs 479.00 582.75 40.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 519.00 582.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 523.00 582.75 40.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 303 717.75 m 343 717.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343 717.75 m 347 717.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 347 717.75 m 387 717.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 387 717.75 m 391 717.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 391 717.75 m 431 717.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435 717.75 m 475 717.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 475 717.75 m 479 717.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 479 717.75 m 519 717.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519 717.75 m 523 717.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 523 717.75 m 563 717.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 303 702.75 m 343 702.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 347 702.75 m 387 702.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 391 702.75 m 431 702.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435 702.75 m 475 702.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 479 702.75 m 519 702.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 523 717.75 m 563 717.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 523 702.75 m 563 702.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 303 627.75 m 343 627.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435 627.75 m 475 627.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 479 627.75 m 519 627.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 523 627.75 m 563 627.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 303 613.75 m 343 613.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 303 611.75 m 343 611.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 347 627.75 m 387 627.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 347 613.75 m 387 613.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 347 611.75 m 387 611.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 391 627.75 m 431 627.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 391 613.75 m 431 613.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 391 611.75 m 431 611.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435 613.75 m 475 613.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435 611.75 m 475 611.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 479 613.75 m 519 613.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 479 611.75 m 519 611.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 523 613.75 m 563 613.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 523 611.75 m 563 611.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 303 582.75 m 343 582.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 347 582.75 m 387 582.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 391 582.75 m 431 582.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435 582.75 m 475 582.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 479 582.75 m 519 582.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 303 568.75 m 343 568.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 303 566.75 m 343 566.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 347 582.75 m 387 582.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 347 568.75 m 387 568.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 347 566.75 m 387 566.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 391 582.75 m 431 582.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 391 568.75 m 431 568.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 391 566.75 m 431 566.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435 568.75 m 475 568.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435 566.75 m 475 566.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 479 568.75 m 519 568.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 479 566.75 m 519 566.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 523 582.75 m 563 582.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 523 568.75 m 563 568.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 523 566.75 m 563 566.75 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 722.00 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 327.45 722.43 Td (February 28, 2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 457.60 722.43 Td (November) Tj ET Q q 0 0 0 rg BT 501.94 722.43 Td ( 30, 2017) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 52.50 707.46 Td (\(in millions\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 307.05 707.43 Td (Level1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 351.05 707.43 Td (Level2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 395.05 707.43 Td (Level 3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 439.05 707.43 Td (Level1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 483.05 707.43 Td (Level2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 527.05 707.43 Td (Level 3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 693.32 Td (Assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 678.32 Td (Cash and cash equivalents) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 305.50 677.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 324.15 677.42 Td (453) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.50 677.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.15 677.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.50 677.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.15 677.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.50 677.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.15 677.42 Td (395) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.50 677.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.15 677.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.50 677.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 677.42 Td () Tj ET Q BT /F1 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 64.50 670.25 60.81 -9.09 re f /GS0 gs q 0 0 0 rg BT 64.50 663.32 Td (Restricted cash) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.15 662.42 Td (29) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.15 662.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.15 662.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 662.42 Td (26) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.15 662.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 662.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 648.32 Td (Marketable securities held in rabbi trusts \(a\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.15 647.42 Td (6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.15 647.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.15 647.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 647.42 Td (97) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.15 647.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 647.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 633.32 Td (Derivative financial instruments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.15 632.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.15 632.42 Td (17) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.15 632.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 632.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.15 632.42 Td (15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 632.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.50 618.32 Td (T) Tj ET Q q 0 0 0 rg BT 82.26 618.32 Td (otal) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 305.50 617.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 324.15 617.42 Td (488) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.50 617.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.15 617.42 Td (17) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.50 617.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.15 617.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.50 617.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.15 617.42 Td (518) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.50 617.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.15 617.42 Td (15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.50 617.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 617.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 603.32 Td (Liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 588.32 Td (Derivative financial instruments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 305.50 587.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.15 587.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.50 587.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.15 587.42 Td (130) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.50 587.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.15 587.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.50 587.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 587.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.50 587.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.15 587.42 Td (161) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.50 587.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 587.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.50 573.32 Td (T) Tj ET Q q 0 0 0 rg BT 81.91 573.32 Td (otal) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 305.50 572.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.15 572.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.50 572.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.15 572.42 Td (130) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.50 572.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.15 572.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.50 572.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 572.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.50 572.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.15 572.42 Td (161) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.50 572.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 572.42 Td () Tj ET Q BT /F1 10.00 Tf ET BT /F1 9.00 Tf ET q 0 0 0 rg BT 49.50 557.45 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 545.45 Td (\(a\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.50 545.45 Td (The use of marketable securities held in rabbi trusts is restricted to funding certain deferred compensation and non-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.50 533.45 Td (qualified U.S. pension plans.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 63.00 507.45 Td (Nonfinancial Instruments that are Measured at Fair V) Tj ET Q q 0 0 0 rg BT 287.78 507.45 Td (alue on a Nonrecurring Basis) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 72.00 486.45 Td (V) Tj ET Q q 0 0 0 rg BT 78.30 486.45 Td (aluation of Goodwill and Other) Tj ET Q q 0 0 0 rg BT 212.03 486.45 Td ( Intangibles) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 262.32 486.45 Td () Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 45.50 436.95 299.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.50 436.95 74.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 436.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 436.95 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 436.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 436.95 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 45.50 406.95 299.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.50 406.95 74.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 406.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 406.95 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 406.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 406.95 65.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344.5 461.95 m 418.5 461.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 461.95 m 422.5 461.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 422.5 461.95 m 487.5 461.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 461.95 m 491.5 461.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 461.95 m 556.5 461.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344.5 436.95 m 418.5 436.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 422.5 436.95 m 487.5 436.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 436.95 m 556.5 436.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344.5 436.95 m 418.5 436.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 422.5 436.95 m 487.5 436.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 436.95 m 556.5 436.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 406.95 m 556.5 406.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344.5 406.95 m 418.5 406.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344.5 392.95 m 418.5 392.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344.5 390.95 m 418.5 390.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 422.5 406.95 m 487.5 406.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 422.5 392.95 m 487.5 392.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 422.5 390.95 m 487.5 390.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 406.95 m 556.5 406.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 392.95 m 556.5 392.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 390.95 m 556.5 390.95 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 430.55 466.63 Td (Goodwill ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 48.00 441.66 Td (\(in millions\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 363.35 451.63 Td (NAA) Tj ET Q q 0 0 0 rg BT 384.46 451.63 Td ( \(a\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 362.65 441.63 Td (Segment) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 440.45 451.63 Td (EA) Tj ET Q q 0 0 0 rg BT 453.79 451.63 Td ( \(b\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 436.15 441.63 Td (Segment) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 512.55 441.63 Td (T) Tj ET Q q 0 0 0 rg BT 518.30 441.63 Td (otal) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 48.00 427.52 Td (At November30, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 347.00 426.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.15 426.62 Td (1,898) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 425.00 426.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 426.62 Td (1,069) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.00 426.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 426.62 Td (2,967) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 48.00 412.52 Td (Foreign currency translation adjustment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.65 411.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.65 411.62 Td (47) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 411.62 Td (47) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 48.00 397.52 Td (At February 28, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 347.00 396.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.15 396.62 Td (1,898) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 425.00 396.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 396.62 Td (1,1) Tj ET Q q 0 0 0 rg BT 473.65 396.62 Td (15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.00 396.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 396.62 Td (3,014) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 380.45 Td (\(a\) ) Tj ET Q q 0 0 0 rg BT 76.50 380.45 Td (North ) Tj ET Q q 0 0 0 rg BT 101.78 380.45 Td (America & ) Tj ET Q q 0 0 0 rg BT 148.43 380.45 Td (Australia \(NAA\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 368.45 Td (\(b\) ) Tj ET Q q 0 0 0 rg BT 76.50 368.45 Td (Europe & ) Tj ET Q q 0 0 0 rg BT 117.60 368.45 Td (Asia \(EA\)) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 45.50 317.95 305.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.50 317.95 74.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 317.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 317.95 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 317.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 317.95 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 45.50 287.95 305.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.50 287.95 74.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 287.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 287.95 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 287.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 287.95 65.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 342.95000000000005 m 424.5 342.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 342.95000000000005 m 428.5 342.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 342.95000000000005 m 493.5 342.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 342.95000000000005 m 497.5 342.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 342.95000000000005 m 562.5 342.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 317.95000000000005 m 424.5 317.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 317.95000000000005 m 493.5 317.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 317.95000000000005 m 562.5 317.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 287.95000000000005 m 562.5 287.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 287.95000000000005 m 424.5 287.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 273.95000000000005 m 424.5 273.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 271.95000000000005 m 424.5 271.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 287.95000000000005 m 493.5 287.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 273.95000000000005 m 493.5 273.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 271.95000000000005 m 493.5 271.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 273.95000000000005 m 562.5 273.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 271.95000000000005 m 562.5 271.95000000000005 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 429.70 347.63 Td (T) Tj ET Q q 0 0 0 rg BT 435.63 347.63 Td (rademarks) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 48.00 322.66 Td (\(in millions\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 376.40 332.63 Td (NAA) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 368.65 322.63 Td (Segment) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 453.80 332.63 Td (EA) Tj ET Q q 0 0 0 rg BT 467.14 332.63 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 442.15 322.63 Td (Segment) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 518.55 322.63 Td (T) Tj ET Q q 0 0 0 rg BT 524.30 322.63 Td (otal) Tj ET Q BT /F1 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 48.00 315.45 92.21 -9.09 re f /GS0 gs q 0 0 0 rg BT 48.00 308.52 Td (At November30, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.00 307.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.65 307.62 Td (927) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.00 307.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.65 307.62 Td (252) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 307.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 307.62 Td (1,179) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 48.00 293.52 Td (Foreign currency translation adjustment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.65 292.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.65 292.62 Td (1) Tj ET Q q 0 0 0 rg BT 484.65 292.62 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 292.62 Td (1) Tj ET Q q 0 0 0 rg BT 553.65 292.62 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 48.00 278.52 Td (At February 28, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.00 277.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.65 277.62 Td (927) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.00 277.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.65 277.62 Td (263) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 277.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 277.62 Td (1,190) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 249.45 Td (The determination of our reporting unit goodwill and trademark fair values includes numerous assumptions that are subject to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 237.45 Td (various risks and uncertainties. ) Tj ET Q q 0 0 0 rg BT 171.18 237.45 Td (W) Tj ET Q q 0 0 0 rg BT 179.81 237.45 Td (e believe that we have made reasonable estimates and judgments. ) Tj ET Q q 0 0 0 rg BT 443.33 237.45 Td (A) Tj ET Q q 0 0 0 rg BT 450.00 237.45 Td ( change in the conditions, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 225.45 Td (circumstances or strategy) Tj ET Q q 0 0 0 rg BT 145.98 225.45 Td (, may result in a need to recognize an impairment char) Tj ET Q q 0 0 0 rg BT 363.21 225.45 Td (ge.) Tj ET Q endstream endobj 23 0 obj <>] /Rotate 0 /Contents 24 0 R>> endobj 24 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.15 31.60 Td (1) Tj ET Q q 0 0 0 rg BT 305.78 31.60 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 45.00 742.25 Td (Derivative Instruments and Hedging ) Tj ET Q q 0 0 0 rg BT 203.34 742.25 Td (Activities ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 245.83 742.25 Td () Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 45.50 694.75 247.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 292.50 694.75 128.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.50 694.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 694.75 67.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 694.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 694.75 67.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 45.50 666.75 247.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 292.50 666.75 128.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.50 666.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 666.75 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 666.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 666.75 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 45.50 636.75 247.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 292.50 636.75 128.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.50 636.75 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 636.75 67.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 636.75 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 636.75 67.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 45.50 606.75 247.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 292.50 606.75 128.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.50 606.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 606.75 67.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 606.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 606.75 67.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 45.50 578.75 247.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 292.50 578.75 128.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.50 578.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 578.75 67.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 578.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 578.75 67.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 45.50 550.75 247.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 292.50 550.75 128.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.50 550.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 550.75 67.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 550.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 550.75 67.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 45.50 520.75 247.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 292.50 520.75 128.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.50 520.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 520.75 67.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 520.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 520.75 67.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 45.50 491.75 247.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 292.50 491.75 128.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.50 491.75 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 491.75 67.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 491.75 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 491.75 67.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 45.50 459.75 247.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 292.50 459.75 128.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.50 459.75 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 459.75 67.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 459.75 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 459.75 67.00 -16.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292.5 694.75 m 420.5 694.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 694.75 m 491.5 694.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 694.75 m 562.5 694.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 636.75 m 562.5 636.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 636.75 m 491.5 636.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 621.75 m 491.5 621.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 619.75 m 491.5 619.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 621.75 m 562.5 621.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 619.75 m 562.5 619.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 536.75 m 491.5 536.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 520.75 m 491.5 520.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 536.75 m 562.5 536.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 520.75 m 562.5 520.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 475.75 m 491.5 475.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 475.75 m 562.5 475.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 475.75 m 491.5 475.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 459.75 m 491.5 459.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 475.75 m 562.5 475.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 459.75 m 562.5 459.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 459.75 m 491.5 459.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 444.75 m 491.5 444.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 442.75 m 491.5 442.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 459.75 m 562.5 459.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 444.75 m 562.5 444.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 442.75 m 562.5 442.75 l s BT /F4 10.00 Tf ET q 0 0 0 rg BT 48.00 699.46 Td (\(in millions\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 306.00 699.43 Td (BalanceSheetLocation) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 429.70 707.48 Td (February 28,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 447.50 697.48 Td (2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 498.85 707.48 Td (November) Tj ET Q q 0 0 0 rg BT 543.10 707.48 Td ( 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 518.50 697.48 Td (2017) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 48 683.91259765625 m 119.3671875 683.91259765625 l s q 0 0 0 rg BT 48.00 685.48 Td (Derivative assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 48.00 671.32 Td (Derivatives designated as hedging instruments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 656.42 Td (Net investment hedges \(a\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.00 656.42 Td (Prepaid expenses and other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.00 656.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.65 656.42 Td (4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.00 656.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 656.42 Td (3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 642.32 Td (Foreign currency zero cost collars \(b\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.00 641.42 Td (Prepaid expenses and other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.65 641.42 Td (13) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 641.42 Td (12) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 48.00 627.32 Td (T) Tj ET Q q 0 0 0 rg BT 53.76 627.32 Td (otal derivative assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.00 625.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.65 625.42 Td (17) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.00 625.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 625.42 Td (15) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 48 609.91259765625 m 133.8154296875 609.91259765625 l s q 0 0 0 rg BT 48.00 611.48 Td (Derivative liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 48.00 597.32 Td (Derivatives designated as hedging instruments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 583.32 Td (Net investment hedges \(a\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.00 583.32 Td (Accruedliabilitiesandother) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.00 583.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.65 583.32 Td (17) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.00 583.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 583.32 Td (13) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.00 569.32 Td (Other long-term liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.65 569.32 Td (21) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 569.32 Td (17) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 555.32 Td (Interest rate swaps \(c\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.00 555.32 Td (Accrued liabilities and other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.65 555.32 Td (10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 555.32 Td (10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.00 541.32 Td (Other long-term liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.65 541.32 Td (14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 541.32 Td (17) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.65 525.42 Td (63) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 525.42 Td (57) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 48.00 511.32 Td (Derivatives not designated as hedging instruments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 497.32 Td (Fuel \(d\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.00 496.42 Td (Accrued liabilities and other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.65 496.42 Td (67) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 496.42 Td (95) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.00 480.42 Td (Other long-term liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.65 480.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 480.42 Td (9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.65 464.42 Td (67) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 464.42 Td (104) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 48.00 450.32 Td (T) Tj ET Q q 0 0 0 rg BT 53.41 450.32 Td (otal derivative liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.00 448.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.65 448.42 Td (130) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.00 448.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 448.42 Td (161) Tj ET Q BT /F1 10.00 Tf ET BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 433.45 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 43.95 421.45 Td (\(a\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.45 421.45 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.95 421.45 Td (February28, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 161.55 421.45 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 180.99 421.45 Td (November30, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.69 421.45 Td (, we had foreign currency swaps totaling ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 425.64 421.45 Td ($337 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.03 421.45 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.47 421.45 Td ($324 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.86 421.45 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.45 409.45 Td (respectively) Tj ET Q q 0 0 0 rg BT 123.11 409.45 Td (, that are designated as hedges of our net investments in foreign operations with a euro-denominated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.45 397.45 Td (functional currency) Tj ET Q q 0 0 0 rg BT 152.82 397.45 Td (. ) Tj ET Q q 0 0 0 rg BT 157.27 397.45 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.77 397.45 Td (February28, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.37 397.45 Td (, these foreign currency swaps settle through September 2019. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 43.95 385.45 Td (\(b\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.45 385.45 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.95 385.45 Td (February28, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 161.55 385.45 Td ( and November 30, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 240.69 385.45 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.69 385.45 Td (, we had foreign currency derivatives consisting of foreign currency zero ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.45 373.45 Td (cost collars that are designated as foreign currency cash flow hedges for a portion of our euro-denominated shipbuilding ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.45 361.45 Td (payments. See Newbuild Currency Risks below for additional information regarding these derivatives.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 43.95 349.45 Td (\(c\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.45 349.45 Td (W) Tj ET Q q 0 0 0 rg BT 84.09 349.45 Td (e have euro interest rate swaps designated as cash flow hedges whereby we receive floating interest rate payments in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.45 337.45 Td (exchange for making fixed interest rate payments. ) Tj ET Q q 0 0 0 rg BT 277.97 337.45 Td (These interest rate swap agreements ef) Tj ET Q q 0 0 0 rg BT 432.44 337.45 Td (fectively changed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.73 337.45 Td ($485 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.12 337.45 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.45 325.45 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.17 325.45 Td (February28, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 158.77 325.45 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 178.20 325.45 Td ($479 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 229.60 325.45 Td ( at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 241.81 325.45 Td (November 30, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.52 325.45 Td ( of EURIBOR-based floating rate euro debt to fixed rate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.45 313.45 Td (euro debt. ) Tj ET Q q 0 0 0 rg BT 117.38 313.45 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 129.88 313.45 Td (February28, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 203.48 313.45 Td (, these interest rate swaps settle through March 2025. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 43.95 301.45 Td (\(d\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.45 301.45 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.95 301.45 Td (February28, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 161.55 301.45 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 180.99 301.45 Td (November 30, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.69 301.45 Td (, we had fuel derivatives consisting of zero cost collars on Brent crude oil ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.45 289.45 Td (\(Brent\) to cover a portion of our estimated fuel consumption through 2018. See Fuel Price Risks below for additional ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.45 277.45 Td (information regarding these derivatives. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 253.45 Td (Our derivative contracts include rights of of) Tj ET Q q 0 0 0 rg BT 220.32 253.45 Td (fset with our counterparties. ) Tj ET Q q 0 0 0 rg BT 334.82 253.45 Td (W) Tj ET Q q 0 0 0 rg BT 343.46 253.45 Td (e have elected to net certain of our derivative assets ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 241.45 Td (and liabilities within counterparties. ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 45.50 180.95 117.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 162.50 180.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 166.50 180.95 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 230.50 180.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 234.50 180.95 82.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.50 180.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 320.50 180.95 95.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 415.50 180.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.50 180.95 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 180.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.50 180.95 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 45.50 94.95 117.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 162.50 94.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 166.50 94.95 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 230.50 94.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 234.50 94.95 82.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.50 94.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 320.50 94.95 95.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 415.50 94.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.50 94.95 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 94.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.50 94.95 64.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 166.5 217.95000000000005 m 230.5 217.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 230.5 217.95000000000005 m 234.5 217.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 234.5 217.95000000000005 m 316.5 217.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 316.5 217.95000000000005 m 320.5 217.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 320.5 217.95000000000005 m 415.5 217.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 415.5 217.95000000000005 m 419.5 217.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419.5 217.95000000000005 m 495.5 217.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 217.95000000000005 m 499.5 217.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499.5 217.95000000000005 m 563.5 217.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 166.5 217.95000000000005 m 230.5 217.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 166.5 180.95000000000005 m 230.5 180.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 230.5 217.95000000000005 m 234.5 217.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 234.5 217.95000000000005 m 316.5 217.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 234.5 180.95000000000005 m 316.5 180.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 316.5 217.95000000000005 m 320.5 217.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 320.5 217.95000000000005 m 415.5 217.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 320.5 180.95000000000005 m 415.5 180.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 415.5 217.95000000000005 m 419.5 217.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419.5 217.95000000000005 m 495.5 217.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419.5 180.95000000000005 m 495.5 180.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 217.95000000000005 m 499.5 217.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499.5 217.95000000000005 m 563.5 217.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499.5 180.95000000000005 m 563.5 180.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 166.5 180.95000000000005 m 230.5 180.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 234.5 180.95000000000005 m 316.5 180.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 320.5 180.95000000000005 m 415.5 180.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419.5 180.95000000000005 m 495.5 180.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499.5 180.95000000000005 m 563.5 180.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 166.5 131.95000000000005 m 230.5 131.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 230.5 131.95000000000005 m 234.5 131.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 234.5 131.95000000000005 m 316.5 131.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 316.5 131.95000000000005 m 320.5 131.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 320.5 131.95000000000005 m 415.5 131.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 415.5 131.95000000000005 m 419.5 131.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419.5 131.95000000000005 m 495.5 131.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 131.95000000000005 m 499.5 131.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499.5 131.95000000000005 m 563.5 131.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 166.5 94.95000000000005 m 230.5 94.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 234.5 94.95000000000005 m 316.5 94.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 320.5 94.95000000000005 m 415.5 94.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419.5 94.95000000000005 m 495.5 94.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499.5 94.95000000000005 m 563.5 94.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 234.5 94.95000000000005 m 316.5 94.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419.5 94.95000000000005 m 495.5 94.95000000000005 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 325.45 221.68 Td (February 28, 2018) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 48.00 185.66 Td (\(in millions\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 185.55 195.63 Td (Gr) Tj ET Q q 0 0 0 rg BT 197.68 195.63 Td (oss) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 178.55 185.63 Td (Amounts) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 242.15 205.63 Td (Gr) Tj ET Q q 0 0 0 rg BT 254.28 205.63 Td (oss ) Tj ET Q q 0 0 0 rg BT 269.19 205.63 Td (Amounts) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 248.60 195.63 Td (Offset in the) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 245.10 185.63 Td (Balance Sheet) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 327.40 205.63 Td (T) Tj ET Q q 0 0 0 rg BT 333.61 205.63 Td (otal Net ) Tj ET Q q 0 0 0 rg BT 368.97 205.63 Td (Amounts) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 333.15 195.63 Td (Pr) Tj ET Q q 0 0 0 rg BT 343.61 195.63 Td (esented in the) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 337.60 185.63 Td (Balance Sheet) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 424.15 205.63 Td (Gr) Tj ET Q q 0 0 0 rg BT 436.28 205.63 Td (oss ) Tj ET Q q 0 0 0 rg BT 451.19 205.63 Td (Amounts) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 422.40 195.63 Td (not Offset in the) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 427.10 185.63 Td (Balance Sheet) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 503.05 185.63 Td (Net ) Tj ET Q q 0 0 0 rg BT 520.26 185.63 Td (Amounts) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 48.00 171.52 Td (Assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.00 170.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 216.65 170.62 Td (17) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 237.00 170.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.65 170.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.00 170.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.65 170.62 Td (17) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.00 170.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.30 170.67 Td (\(5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.65 170.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.00 170.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.65 170.62 Td (12) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 48.00 156.52 Td (Liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.00 155.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 211.65 155.62 Td (130) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 237.00 155.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.65 155.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.00 155.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.65 155.62 Td (130) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.00 155.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.30 155.67 Td (\(5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.65 155.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.00 155.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.65 155.62 Td (125) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 323.60 135.68 Td (November) Tj ET Q q 0 0 0 rg BT 367.94 135.68 Td ( 30, 2017) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 48.00 99.66 Td (\(in millions\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 185.55 109.63 Td (Gr) Tj ET Q q 0 0 0 rg BT 197.68 109.63 Td (oss) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 178.55 99.63 Td (Amounts) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 242.15 119.63 Td (Gr) Tj ET Q q 0 0 0 rg BT 254.28 119.63 Td (oss ) Tj ET Q q 0 0 0 rg BT 269.19 119.63 Td (Amounts) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 248.60 109.63 Td (Offset in the) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 245.10 99.63 Td (Balance Sheet) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 327.40 119.63 Td (T) Tj ET Q q 0 0 0 rg BT 333.61 119.63 Td (otal Net ) Tj ET Q q 0 0 0 rg BT 368.97 119.63 Td (Amounts) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 333.15 109.63 Td (Pr) Tj ET Q q 0 0 0 rg BT 343.61 109.63 Td (esented in the) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 337.60 99.63 Td (Balance Sheet) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 424.15 119.63 Td (Gr) Tj ET Q q 0 0 0 rg BT 436.28 119.63 Td (oss ) Tj ET Q q 0 0 0 rg BT 451.19 119.63 Td (Amounts) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 422.40 109.63 Td (not Offset in the) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 427.10 99.63 Td (Balance Sheet) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 503.05 99.63 Td (Net ) Tj ET Q q 0 0 0 rg BT 519.99 99.63 Td (Amounts) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 48.00 85.52 Td (Assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.00 84.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 216.65 84.62 Td (15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 237.00 84.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.65 84.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.00 84.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.65 84.62 Td (15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.00 84.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.30 84.67 Td (\(8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.65 84.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.00 84.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 554.65 84.62 Td (7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 48.00 70.52 Td (Liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.00 69.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 211.65 69.62 Td (161) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 237.00 69.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.65 69.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.00 69.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.65 69.62 Td (161) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.00 69.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.30 69.67 Td (\(8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.65 69.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.00 69.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.65 69.62 Td (153) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 25 0 obj <>] /Rotate 0 /Contents 26 0 R>> endobj 26 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (12) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 742.10 Td (The ef) Tj ET Q q 0 0 0 rg BT 70.63 742.10 Td (fective gain \(loss\) portions of our derivatives qualifying and designated as hedging instruments recognized in other ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 730.10 Td (comprehensive income were as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 45.50 681.60 396.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.50 681.60 59.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 681.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 681.60 59.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 45.50 653.60 396.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.50 653.60 59.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 653.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 653.60 59.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 695.6 m 500.5 695.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 695.6 m 500.5 695.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 681.6 m 500.5 681.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500.5 695.6 m 504.5 695.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 695.6 m 563.5 695.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 681.6 m 563.5 681.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 681.6 m 500.5 681.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 681.6 m 563.5 681.6 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 48.00 699.85 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 456.50 710.28 Td (Thr) Tj ET Q q 0 0 0 rg BT 473.08 710.28 Td (ee Months Ended) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.20 700.28 Td (February 28,) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 48.00 686.16 Td (\(in millions\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 460.50 686.28 Td (2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 523.50 686.28 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 48.00 672.17 Td (Net investment hedges) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.00 672.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.30 672.22 Td (\(6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 672.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 672.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 554.65 672.17 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 48.00 658.17 Td (Foreign currency zero cost collars cash flow hedges) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.00 658.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.65 658.17 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 658.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 554.65 658.17 Td (8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 48.00 644.17 Td (Interest rate swaps cash flow hedges) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.00 644.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.65 644.17 Td (4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 644.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 554.65 644.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 619.10 Td (There are no credit risk related contingent features in our derivative agreements, except for bilateral credit provisions within our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 607.10 Td (fuel derivative counterparty agreements. ) Tj ET Q q 0 0 0 rg BT 208.91 607.10 Td (These provisions require cash collateral to be posted or received to the extent the fuel ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 595.10 Td (derivative fair value payable to or receivable from an individual counterparty exceeds ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.40 595.10 Td ($100 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.79 595.10 Td (. ) Tj ET Q q 0 0 0 rg BT 446.24 595.10 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.74 595.10 Td (February28, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.34 595.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 583.10 Td (November30, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 124.71 583.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 129.71 583.10 Td (no) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 139.71 583.10 Td ( collateral was required to be posted to or received from our fuel derivative counterparties.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 562.10 Td (The amount of estimated cash flow hedges) Tj ET Q q 0 0 0 rg BT 218.65 562.10 Td ( unrealized gains and losses that are expected to be reclassified to earnings in the next ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 550.10 Td (twelve months is not significant.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 45.00 524.10 Td (Financial Risks) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 63.00 498.10 Td (Fuel Price Risks) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 477.10 Td (Substantially all of our exposure to market risk for changes in fuel prices relates to the consumption of fuel on our ships. ) Tj ET Q q 0 0 0 rg BT 529.43 477.10 Td (W) Tj ET Q q 0 0 0 rg BT 538.07 477.10 Td (e ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 465.10 Td (have Brent call options and Brent put options, collectively referred to as zero cost collars, that establish ceiling and floor prices ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 453.10 Td (and mitigate a portion of our economic risk attributable to potential fuel price increases. ) Tj ET Q q 0 0 0 rg BT 398.87 453.10 Td (T) Tj ET Q q 0 0 0 rg BT 404.28 453.10 Td (o maximize operational flexibility we ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 441.10 Td (utilized derivative markets with significant trading liquidity) Tj ET Q q 0 0 0 rg BT 283.18 441.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 420.10 Td (Our zero cost collars are based on Brent prices whereas the actual fuel used on our ships is marine fuel. Changes in the Brent ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 408.10 Td (prices may not show a high degree of correlation with changes in our underlying marine fuel prices. ) Tj ET Q q 0 0 0 rg BT 446.91 408.10 Td (W) Tj ET Q q 0 0 0 rg BT 455.55 408.10 Td (e will not realize any ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 396.10 Td (economic gain or loss upon the monthly maturities of our zero cost collars unless the average monthly price of Brent is above the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 384.10 Td (ceiling price or below the floor price. ) Tj ET Q q 0 0 0 rg BT 196.43 384.10 Td (W) Tj ET Q q 0 0 0 rg BT 205.06 384.10 Td (e believe that these zero cost collars will act as economic hedges; however) Tj ET Q q 0 0 0 rg BT 502.88 384.10 Td (, hedge ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 372.10 Td (accounting is not applied. ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 45.50 314.60 414.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 314.60 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 314.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 314.60 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 45.50 284.60 414.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 284.60 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 284.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 284.60 50.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459.5 328.6 m 509.5 328.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509.5 328.6 m 513.5 328.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 328.6 m 563.5 328.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459.5 314.6 m 509.5 314.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 314.6 m 563.5 314.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459.5 314.6 m 509.5 314.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 314.6 m 563.5 314.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459.5 284.6 m 509.5 284.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459.5 270.6 m 509.5 270.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459.5 268.6 m 509.5 268.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 284.6 m 563.5 284.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 270.6 m 563.5 270.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 268.6 m 563.5 268.6 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 465.50 343.28 Td (Thr) Tj ET Q q 0 0 0 rg BT 482.08 343.28 Td (ee Months Ended) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 483.20 333.28 Td (February 28,) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 48.00 319.16 Td (\(in millions\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.00 319.28 Td (2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 528.00 319.28 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 48.00 305.17 Td (Unrealized gains on fuel derivatives, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.00 304.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 304.27 Td (32) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.00 304.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.65 304.27 Td (72) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 48.00 290.17 Td (Realized losses on fuel derivatives, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.30 289.32 Td (\(16) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 289.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 546.30 289.27 Td (\(45) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.65 289.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 48.00 275.17 Td (Gains on fuel derivatives, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.00 274.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 274.27 Td (16) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.00 274.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.65 274.27 Td (27) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 249.10 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.50 249.10 Td (February28, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 131.10 249.10 Td (, our outstanding fuel derivatives consisted of zero cost collars on Brent as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 45.50 202.60 220.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 202.60 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.50 202.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.50 202.60 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.50 202.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 202.60 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 202.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 202.60 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 45.50 172.60 220.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 172.60 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.50 172.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.50 172.60 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.50 172.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 172.60 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 172.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 172.60 75.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 265.5 202.60000000000002 m 340.5 202.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344.5 202.60000000000002 m 419.5 202.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 423.5 202.60000000000002 m 498.5 202.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 202.60000000000002 m 577.5 202.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344.5 157.60000000000002 m 419.5 157.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344.5 143.60000000000002 m 419.5 143.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344.5 141.60000000000002 m 419.5 141.60000000000002 l s BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 48 205.71259765625007 m 107.1455078125 205.71259765625007 l s q 0 0 0 rg BT 48.00 207.28 Td (Maturities \(a\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 277.00 217.28 Td (T) Tj ET Q q 0 0 0 rg BT 282.93 217.28 Td (ransaction) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 290.55 207.28 Td (Dates) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 365.75 217.28 Td (Barr) Tj ET Q q 0 0 0 rg BT 386.12 217.28 Td (els) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 351.05 207.28 Td (\(inthousands\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 438.55 227.28 Td (W) Tj ET Q q 0 0 0 rg BT 448.00 227.28 Td (eighted-) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 443.10 217.28 Td (A) Tj ET Q q 0 0 0 rg BT 449.58 217.28 Td (verage) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 434.60 207.28 Td (Floor) Tj ET Q q 0 0 0 rg BT 457.74 207.28 Td ( Prices) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 517.55 227.28 Td (W) Tj ET Q q 0 0 0 rg BT 527.00 227.28 Td (eighted-) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 522.10 217.28 Td (A) Tj ET Q q 0 0 0 rg BT 528.58 217.28 Td (verage) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 509.90 207.28 Td (Ceiling Prices) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 48.00 193.17 Td (Fiscal 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.00 177.27 Td (January 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.15 177.27 Td (2,025) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.00 177.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.65 177.27 Td (75) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.00 177.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 177.27 Td (1) Tj ET Q q 0 0 0 rg BT 563.65 177.27 Td (10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.00 162.27 Td (October 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.15 162.27 Td (2,250) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.00 162.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.65 162.27 Td (80) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.00 162.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 162.27 Td (1) Tj ET Q q 0 0 0 rg BT 563.65 162.27 Td (14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.15 147.27 Td (4,275) Tj ET Q BT /F1 10.00 Tf ET BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 132.30 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 43.95 120.30 Td (\(a\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.45 120.30 Td (Fuel derivatives mature evenly over each month in 2018.) Tj ET Q endstream endobj 27 0 obj <>] /Rotate 0 /Contents 28 0 R>> endobj 28 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (13) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 57.00 742.25 Td (Foreign Currency Exchange Rate Risks) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 69.00 721.25 Td (Overall Strategy) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 704.25 Td (W) Tj ET Q q 0 0 0 rg BT 53.64 704.25 Td (e manage our exposure to fluctuations in foreign currency exchange rates through our normal operating and financing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 692.25 Td (activities, including netting certain exposures to take advantage of any natural of) Tj ET Q q 0 0 0 rg BT 367.49 692.25 Td (fsets and, when considered appropriate, through ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 680.25 Td (the use of derivative and non-derivative financial instruments.Our primary focus is to monitor our exposure to, and manage, the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 668.25 Td (economic foreign currency exchange risks faced by our operations and realized if we exchange one currency for another) Tj ET Q q 0 0 0 rg BT 525.61 668.25 Td (.) Tj ET Q q 0 0 0 rg BT 530.43 668.25 Td (W) Tj ET Q q 0 0 0 rg BT 539.07 668.25 Td (e ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 656.25 Td (currently only hedge certain of our ship commitments and net investments in foreign operations. ) Tj ET Q q 0 0 0 rg BT 432.78 656.25 Td (The financial impacts of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 644.25 Td (hedging instruments we do employ generally of) Tj ET Q q 0 0 0 rg BT 235.89 644.25 Td (fset the changes in the underlying exposures being hedged.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 94.00 623.25 Td (Operational Currency Risks ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 606.25 Td (Our operations primarily utilize the U.S. dollar) Tj ET Q q 0 0 0 rg BT 232.33 606.25 Td (, ) Tj ET Q q 0 0 0 rg BT 236.78 606.25 Td (Australian dollar) Tj ET Q q 0 0 0 rg BT 303.86 606.25 Td (, euro or sterling as their functional currencies. Our operations ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 594.25 Td (also have revenue and expenses denominated in non-functional currencies. Movements in foreign currency exchange rates will ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 582.25 Td (af) Tj ET Q q 0 0 0 rg BT 52.59 582.25 Td (fect our financial statements. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 94.00 561.25 Td (Investment Currency Risks) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 540.25 Td (W) Tj ET Q q 0 0 0 rg BT 53.64 540.25 Td (e consider our investments in foreign operations to be denominated in stable currencies. Our investments in foreign operations ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 528.25 Td (are of a long-term nature. ) Tj ET Q q 0 0 0 rg BT 149.21 528.25 Td (W) Tj ET Q q 0 0 0 rg BT 157.85 528.25 Td (e have ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 186.17 528.25 Td ($5.6 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.28 528.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 251.72 528.25 Td ($924 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.11 528.25 Td ( of euro- and sterling-denominated debt, respectively) Tj ET Q q 0 0 0 rg BT 514.33 528.25 Td (, including ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 516.25 Td (the ef) Tj ET Q q 0 0 0 rg BT 67.30 516.25 Td (fect of foreign currency swaps, which provides an economic of) Tj ET Q q 0 0 0 rg BT 319.25 516.25 Td (fset for our operations with euro and sterling functional ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 504.25 Td (currency) Tj ET Q q 0 0 0 rg BT 79.33 504.25 Td (. ) Tj ET Q q 0 0 0 rg BT 84.15 504.25 Td (W) Tj ET Q q 0 0 0 rg BT 92.78 504.25 Td (e also partially mitigate our net investment currency exposures by denominating a portion of our foreign currency ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 492.25 Td (intercompany payables in our foreign operations) Tj ET Q q 0 0 0 rg BT 241.69 492.25 Td ( functional currencies.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 94.00 471.25 Td (Newbuild Currency Risks) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 447.25 Td (Our shipbuilding contracts are typically denominated in euros. Our decision to hedge a non-functional currency ship ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 435.25 Td (commitment for our cruise brands is made on a case-by-case basis, considering the amount and duration of the exposure, market ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 423.25 Td (volatility) Tj ET Q q 0 0 0 rg BT 80.46 423.25 Td (, economic trends, our overall expected net cash flows by currency and other of) Tj ET Q q 0 0 0 rg BT 398.21 423.25 Td (fsetting risks. ) Tj ET Q q 0 0 0 rg BT 454.42 423.25 Td (W) Tj ET Q q 0 0 0 rg BT 463.06 423.25 Td (e use foreign currency ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 411.25 Td (derivative contracts to manage foreign currency exchange rate risk for some of our ship construction payments. ) Tj ET Q q 0 0 0 rg BT 492.34 411.25 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.84 411.25 Td (February28, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 399.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 399.25 Td (, for the following newbuilds, we had foreign currency zero cost collars for a portion of euro-denominated shipyard ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 387.25 Td (payments. ) Tj ET Q q 0 0 0 rg BT 88.14 387.25 Td (These collars are designated as cash flow hedges. ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 64.25 331.75 170.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 234.25 331.75 71.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 305.25 331.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 309.25 331.75 80.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.25 331.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 393.25 331.75 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.25 331.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 467.25 331.75 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 64.25 301.75 170.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 234.25 301.75 71.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 305.25 301.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 309.25 301.75 80.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.25 301.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 393.25 301.75 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.25 301.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 467.25 301.75 75.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 234.25 331.75 m 305.25 331.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 309.25 331.75 m 389.25 331.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 393.25 331.75 m 463.25 331.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 467.25 331.75 m 542.25 331.75 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 241.95 336.43 Td (Enter) Tj ET Q q 0 0 0 rg BT 266.21 336.43 Td (ed Into) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 325.35 336.43 Td (Matur) Tj ET Q q 0 0 0 rg BT 352.94 336.43 Td (es in) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 405.80 356.43 Td (W) Tj ET Q q 0 0 0 rg BT 415.25 356.43 Td (eighted-) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 397.50 346.43 Td (A) Tj ET Q q 0 0 0 rg BT 403.98 346.43 Td (verage Floor) Tj ET Q q 0 0 0 rg BT 457.94 346.43 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 417.75 336.43 Td (Rate) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 482.30 356.43 Td (W) Tj ET Q q 0 0 0 rg BT 491.75 356.43 Td (eighted- ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 470.30 346.43 Td (A) Tj ET Q q 0 0 0 rg BT 476.78 346.43 Td (verage Ceiling ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 494.25 336.43 Td (Rate) Tj ET Q BT /F4 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 66.75 328.40 70.84 -9.10 re f /GS0 gs q 0 0 0 rg BT 66.75 321.46 Td (Carnival Horizon) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.25 321.42 Td (2016) Tj ET Q BT /F1 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 324.45 328.35 48.60 -9.09 re f /GS0 gs q 0 0 0 rg BT 324.45 321.42 Td (March 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.75 321.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.90 321.42 Td (1.02) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.75 321.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.90 321.42 Td (1.25) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 66.75 306.46 Td (Seabourn Ovation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.25 306.42 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.90 306.42 Td (April 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.75 306.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.90 306.42 Td (1.02) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.75 306.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.90 306.42 Td (1.25) Tj ET Q BT /F4 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 66.75 298.40 70.27 -9.10 re f /GS0 gs q 0 0 0 rg BT 66.75 291.46 Td (Nieuw Statendam) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.25 291.42 Td (2016) Tj ET Q BT /F1 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 316.35 298.35 64.71 -9.09 re f /GS0 gs q 0 0 0 rg BT 316.35 291.42 Td (November 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.75 291.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.90 291.42 Td (1.05) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.75 291.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.90 291.42 Td (1.25) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 266.25 Td (If the spot rate is between the ceiling and floor rates on the date of maturity) Tj ET Q q 0 0 0 rg BT 345.63 266.25 Td (, then we would not owe or receive any payments ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 254.25 Td (under these collars.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 233.25 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.50 233.25 Td (February28, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 131.10 233.25 Td (, our remaining newbuild currency exchange rate risk primarily relates to euro-denominated newbuild ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 221.25 Td (contract payments, which represent a total unhedged commitment of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.58 221.25 Td ($8.2 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.69 221.25 Td ( and substantially relates to newbuilds ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 209.25 Td (scheduled to be delivered in 2019 through 2022 to non-euro functional currency brands.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 188.25 Td (The cost of shipbuilding orders that we may place in the future that is denominated in a dif) Tj ET Q q 0 0 0 rg BT 407.78 188.25 Td (ferent currency than our cruise brands) Tj ET Q q 0 0 0 rg BT 562.24 188.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 176.25 Td (will be af) Tj ET Q q 0 0 0 rg BT 82.58 176.25 Td (fected by foreign currency exchange rate fluctuations.) Tj ET Q q 0 0 0 rg BT 300.63 176.25 Td (These foreign currency exchange rate fluctuations may af) Tj ET Q q 0 0 0 rg BT 530.62 176.25 Td (fect our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 164.25 Td (decision to order new cruise ships. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 94.50 143.25 Td (Interest Rate Risks) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 122.25 Td (W) Tj ET Q q 0 0 0 rg BT 53.64 122.25 Td (e manage our exposure to fluctuations in interest rates through our debt portfolio management and investment strategies.) Tj ET Q q 0 0 0 rg BT 538.32 122.25 Td (W) Tj ET Q q 0 0 0 rg BT 546.96 122.25 Td (e ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 110.25 Td (evaluate our debt portfolio to determine whether to make periodic adjustments to the mix of fixed and floating rate debt through ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 98.25 Td (the use of interest rate swaps, issuance of new debt, amendment of existing debt or early retirement of existing debt. ) Tj ET Q endstream endobj 29 0 obj <>] /Rotate 0 /Contents 30 0 R>> endobj 30 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (14) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 94.50 742.25 Td (Concentrations of Credit Risk) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 718.25 Td (As part of our ongoing control procedures, we monitor concentrations of credit risk associated with financial and other ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 706.25 Td (institutions with which we conduct significant business.) Tj ET Q q 0 0 0 rg BT 270.91 706.25 Td (W) Tj ET Q q 0 0 0 rg BT 279.55 706.25 Td (e seek to minimize these credit risk exposures, including counterparty ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 694.25 Td (nonperformance primarily associated with our cash equivalents, investments, committed financing facilities, contingent ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 682.25 Td (obligations, derivative instruments, insurance contracts and new ship progress payment guarantees, by: ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 658.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.00 658.25 Td (Conducting business with lar) Tj ET Q q 0 0 0 rg BT 197.20 658.25 Td (ge, well-established financial institutions, insurance companies and export credit agencies ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 646.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.00 646.25 Td (Diversifying our counterparties) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 634.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.00 634.25 Td (Having guidelines regarding credit ratings and investment maturities that we follow to help safeguard liquidity and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.00 622.25 Td (minimize risk) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 610.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.00 610.25 Td (Generally requiring collateral and/or guarantees to support notes receivable on significant asset sales, long-term ship ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.00 598.25 Td (charters and new ship progress payments to shipyards) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 574.25 Td (W) Tj ET Q q 0 0 0 rg BT 53.64 574.25 Td (e currently believe the risk of nonperformance by any of our significant counterparties is remote. ) Tj ET Q q 0 0 0 rg BT 442.94 574.25 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.44 574.25 Td (February28, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 529.04 574.25 Td (, our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 562.25 Td (exposures under foreign currency and fuel derivative contracts and interest rate swap agreements were not material. ) Tj ET Q q 0 0 0 rg BT 509.90 562.25 Td (W) Tj ET Q q 0 0 0 rg BT 518.54 562.25 Td (e also ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 550.25 Td (monitor the creditworthiness of travel agencies and tour operators in ) Tj ET Q q 0 0 0 rg BT 320.47 550.25 Td (Asia, ) Tj ET Q q 0 0 0 rg BT 343.25 550.25 Td (Australia and Europe, which includes charter) Tj ET Q q 0 0 0 rg BT 523.54 550.25 Td (-hire ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 538.25 Td (agreements in ) Tj ET Q q 0 0 0 rg BT 102.76 538.25 Td (Asia and credit and debit card providers to which we extend credit in the normal course of our business.Our credit ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 526.25 Td (exposure also includes contingent obligations related to cash payments received directly by travel agents and tour operators for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 514.25 Td (cash collected by them on cruise sales in ) Tj ET Q q 0 0 0 rg BT 209.39 514.25 Td (Australia and most of Europe where we are obligated to honor our guests) Tj ET Q q 0 0 0 rg BT 504.68 514.25 Td ( cruise ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 502.25 Td (payments made by them to their travel agents and tour operators regardless of whether we have received these payments. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 490.25 Td (Concentrations of credit risk associated with these trade receivables, charter) Tj ET Q q 0 0 0 rg BT 348.56 490.25 Td (-hire agreements and contingent obligations are not ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 478.25 Td (considered to be material, principally due to the lar) Tj ET Q q 0 0 0 rg BT 248.91 478.25 Td (ge number of unrelated accounts, the nature of these contingent obligations ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 466.25 Td (and their short maturities. ) Tj ET Q q 0 0 0 rg BT 150.07 466.25 Td (W) Tj ET Q q 0 0 0 rg BT 158.71 466.25 Td (e have not experienced significant credit losses on our trade receivables, charter) Tj ET Q q 0 0 0 rg BT 477.81 466.25 Td (-hire agreements and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 454.25 Td (contingent obligations. ) Tj ET Q q 0 0 0 rg BT 138.97 454.25 Td (W) Tj ET Q q 0 0 0 rg BT 147.61 454.25 Td (e do not normally require collateral or other security to support normal credit sales.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 45.00 430.25 Td (NOTE 5 Segment Information ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 409.25 Td (W) Tj ET Q q 0 0 0 rg BT 53.64 409.25 Td (e revised our operating segments due to changes in our internal reporting as a result of the recent strategic realignment of our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 397.25 Td (business in ) Tj ET Q q 0 0 0 rg BT 91.12 397.25 Td (Australia. ) Tj ET Q q 0 0 0 rg BT 132.59 397.25 Td (The presentation of prior period segment information has been revised to reflect this change. Our operating ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 385.25 Td (segments are reported on the same basis as the internally reported information that is provided to our chief operating decision ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 373.25 Td (maker \(CODM\), who is the President and Chief Executive Of) Tj ET Q q 0 0 0 rg BT 300.86 373.25 Td (ficer of Carnival Corporation and Carnival plc. ) Tj ET Q q 0 0 0 rg BT 491.17 373.25 Td (The CODM ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 361.25 Td (assesses performance and makes decisions to allocate resources for Carnival Corporation& plc based upon review of the results ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 349.25 Td (across all of our segments. Our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 171.91 349.25 Td (four) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 188.57 349.25 Td ( reportable segments are comprised of \(1\)North ) Tj ET Q q 0 0 0 rg BT 382.95 349.25 Td (America and ) Tj ET Q q 0 0 0 rg BT 436.26 349.25 Td (Australia cruise operations ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 337.25 Td (\(NAA\), \(2\)Europe and ) Tj ET Q q 0 0 0 rg BT 149.13 337.25 Td (Asia cruise operations \(EA\), \(3\) Cruise Support and \(4\) ) Tj ET Q q 0 0 0 rg BT 382.21 337.25 Td (T) Tj ET Q q 0 0 0 rg BT 387.62 337.25 Td (our and Other) Tj ET Q q 0 0 0 rg BT 442.61 337.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 313.25 Td (The operating segments within each of our NAA) Tj ET Q q 0 0 0 rg BT 239.67 313.25 Td ( and EA) Tj ET Q q 0 0 0 rg BT 271.89 313.25 Td ( reportable segments have been aggregated based on the similarity of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 301.25 Td (their economic and other characteristics. Our Cruise Support segment represents our portfolio of leading port destinations and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 289.25 Td (other services, all of which are operated for the benefit of our cruise brands. Our ) Tj ET Q q 0 0 0 rg BT 368.86 289.25 Td (T) Tj ET Q q 0 0 0 rg BT 374.27 289.25 Td (our and Other segment represents the hotel ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 277.25 Td (and transportation operations of Holland ) Tj ET Q q 0 0 0 rg BT 209.13 277.25 Td (America Princess ) Tj ET Q q 0 0 0 rg BT 281.33 277.25 Td (Alaska ) Tj ET Q q 0 0 0 rg BT 311.42 277.25 Td (T) Tj ET Q q 0 0 0 rg BT 316.83 277.25 Td (ours and other operations. ) Tj ET Q endstream endobj 31 0 obj <>] /Rotate 0 /Contents 32 0 R>> endobj 32 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (15) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 45.50 700.50 186.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 231.50 700.50 57.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 288.50 700.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 292.50 700.50 63.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.50 700.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.50 700.50 69.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 700.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 432.50 700.50 63.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 700.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.50 700.50 63.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 45.50 668.50 186.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 231.50 668.50 57.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 288.50 668.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 292.50 668.50 63.00 -15.00 re f /GS0 gs 0.8 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1 rg /GS0 gs 432.50 638.50 63.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 638.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.50 638.50 63.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 45.50 608.50 186.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 231.50 608.50 57.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 288.50 608.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 292.50 608.50 63.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.50 608.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.50 608.50 69.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 608.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 432.50 608.50 63.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 608.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.50 608.50 63.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 45.50 578.50 186.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 231.50 578.50 57.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 288.50 578.50 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 292.50 578.50 63.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.50 578.50 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.50 578.50 69.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 578.50 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 432.50 578.50 63.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 578.50 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.50 578.50 63.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 45.50 547.50 186.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 231.50 547.50 57.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 288.50 547.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 292.50 547.50 63.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.50 547.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.50 547.50 69.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 547.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 432.50 547.50 63.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 547.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.50 547.50 63.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 45.50 517.50 186.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 231.50 517.50 57.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 288.50 517.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 292.50 517.50 63.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.50 517.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.50 517.50 69.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 517.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 432.50 517.50 63.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 517.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.50 517.50 63.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 231.5 735.5 m 288.5 735.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 288.5 735.5 m 292.5 735.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292.5 735.5 m 355.5 735.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 355.5 735.5 m 359.5 735.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 735.5 m 428.5 735.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 735.5 m 432.5 735.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432.5 735.5 m 495.5 735.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 735.5 m 499.5 735.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499.5 735.5 m 562.5 735.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 231.5 700.5 m 288.5 700.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292.5 700.5 m 355.5 700.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 700.5 m 428.5 700.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432.5 700.5 m 495.5 700.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499.5 700.5 m 562.5 700.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 231.5 608.5 m 288.5 608.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292.5 608.5 m 355.5 608.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 608.5 m 428.5 608.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432.5 608.5 m 495.5 608.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499.5 608.5 m 562.5 608.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 231.5 608.5 m 288.5 608.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 231.5 594.5 m 288.5 594.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 231.5 592.5 m 288.5 592.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292.5 608.5 m 355.5 608.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292.5 594.5 m 355.5 594.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292.5 592.5 m 355.5 592.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 608.5 m 428.5 608.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 594.5 m 428.5 594.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 592.5 m 428.5 592.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432.5 608.5 m 495.5 608.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432.5 594.5 m 495.5 594.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432.5 592.5 m 495.5 592.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499.5 608.5 m 562.5 608.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499.5 594.5 m 562.5 594.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499.5 592.5 m 562.5 592.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 231.5 502.5 m 288.5 502.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292.5 502.5 m 355.5 502.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 502.5 m 428.5 502.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432.5 502.5 m 495.5 502.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499.5 502.5 m 562.5 502.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 231.5 502.5 m 288.5 502.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 231.5 488.5 m 288.5 488.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 231.5 486.5 m 288.5 486.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292.5 502.5 m 355.5 502.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292.5 488.5 m 355.5 488.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292.5 486.5 m 355.5 486.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 502.5 m 428.5 502.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 488.5 m 428.5 488.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 486.5 m 428.5 486.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432.5 502.5 m 495.5 502.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432.5 488.5 m 495.5 488.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432.5 486.5 m 495.5 486.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499.5 502.5 m 562.5 502.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499.5 488.5 m 562.5 488.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499.5 486.5 m 562.5 486.5 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 322.00 739.23 Td (Thr) Tj ET Q q 0 0 0 rg BT 338.58 739.23 Td (ee Months Ended February 28,) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 48.00 705.21 Td (\(in millions\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 239.20 705.18 Td (Revenues) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.55 725.18 Td (Operating) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 303.90 715.18 Td (costs and) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 304.85 705.18 Td (expenses) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 379.05 725.18 Td (Selling) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 385.40 715.18 Td (and) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 362.35 705.18 Td (administrative) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 436.05 725.18 Td (Depr) Tj ET Q q 0 0 0 rg BT 457.53 725.18 Td (eciation) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 455.40 715.18 Td (and) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 436.00 705.18 Td (amortization) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 508.55 715.18 Td (Operating) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 502.85 705.18 Td (income\(loss\)) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 48 689.66259765625 m 68 689.66259765625 l s q 0 0 0 rg BT 48.00 691.23 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 48.00 676.07 Td (NAA) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 234.00 673.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 262.15 673.17 Td (2,684) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.00 673.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.15 673.17 Td (1,658) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.00 673.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.65 673.17 Td (367) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.00 673.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.65 673.17 Td (299) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.00 673.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 673.17 Td (360) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 48.00 659.07 Td (EA) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 262.15 658.17 Td (1,503) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.15 658.17 Td (1,005) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.65 658.17 Td (188) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.65 658.17 Td (157) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 658.17 Td (154) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 48.00 644.07 Td (Cruise Support) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 274.65 643.17 Td (32) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.65 643.17 Td (33) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.65 643.17 Td (55) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 643.17 Td (23) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.30 643.17 Td (\(78) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 643.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 48.00 629.07 Td (T) Tj ET Q q 0 0 0 rg BT 53.76 629.07 Td (our and Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 274.65 628.17 Td (13) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.65 628.17 Td (14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 628.17 Td (6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 628.17 Td (10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.30 628.17 Td (\(17) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 628.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 48.00 614.07 Td (Intersegment elimination) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 274.65 613.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.65 613.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.65 613.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 613.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 613.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 234.00 598.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 262.15 598.17 Td (4,232) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.00 598.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.15 598.17 Td (2,709) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.00 598.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.65 598.17 Td (616) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.00 598.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.65 598.17 Td (488) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.00 598.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 598.17 Td (419) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 48 582.66259765625 m 68 582.66259765625 l s q 0 0 0 rg BT 48.00 584.23 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 48.00 569.07 Td (NAA) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 234.00 567.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 262.15 567.17 Td (2,517) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.00 567.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.15 567.17 Td (1,557) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.00 567.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.65 567.17 Td (333) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.00 567.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.65 567.17 Td (289) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.00 567.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 567.17 Td (338) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 48.00 553.07 Td (EA) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 262.15 552.17 Td (1,226) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.65 552.17 Td (859) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.65 552.17 Td (159) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.65 552.17 Td (130) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 552.17 Td (78) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 48.00 538.07 Td (Cruise Support) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 274.65 537.17 Td (39) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.65 537.17 Td (6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.65 537.17 Td (55) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 537.17 Td (1) Tj ET Q q 0 0 0 rg BT 486.65 537.17 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.30 537.17 Td (\(33) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 537.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 48.00 523.07 Td (T) Tj ET Q q 0 0 0 rg BT 53.76 523.07 Td (our and Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 279.65 522.17 Td (9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.65 522.17 Td (13) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 522.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 522.17 Td (9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.30 522.17 Td (\(15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 522.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 48.00 508.07 Td (Intersegment elimination) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 274.65 507.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.65 507.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.65 507.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 507.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 507.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 234.00 492.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 262.15 492.17 Td (3,791) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.00 492.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.15 492.17 Td (2,435) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.00 492.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.65 492.17 Td (549) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.00 492.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.65 492.17 Td (439) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.00 492.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 492.17 Td (368) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 464.00 Td (A) Tj ET Q q 0 0 0 rg BT 51.67 464.00 Td ( portion of the NAA) Tj ET Q q 0 0 0 rg BT 132.22 464.00 Td ( segment) Tj ET Q q 0 0 0 rg BT 170.82 464.00 Td (s revenues includes revenues for the tour portion of a cruise when a cruise and land tour package ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 452.00 Td (are sold together by Holland ) Tj ET Q q 0 0 0 rg BT 160.81 452.00 Td (America Line and Princess Cruises. ) Tj ET Q q 0 0 0 rg BT 306.14 452.00 Td (These intersegment tour revenues, which are also included in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 440.00 Td (our ) Tj ET Q q 0 0 0 rg BT 60.65 440.00 Td (T) Tj ET Q q 0 0 0 rg BT 66.06 440.00 Td (our and Other segment, are eliminated by the NAA) Tj ET Q q 0 0 0 rg BT 270.17 440.00 Td ( segment) Tj ET Q q 0 0 0 rg BT 308.77 440.00 Td (s revenues and operating expenses in the line Intersegment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 428.00 Td (elimination.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 404.00 Td (NOTE 6 Earnings Per) Tj ET Q q 0 0 0 rg BT 151.55 404.00 Td ( Shar) Tj ET Q q 0 0 0 rg BT 174.43 404.00 Td (e) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 178.87 404.00 Td () Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 355.50 398.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.00 355.50 53.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.00 355.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.00 355.50 53.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 325.50 398.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.00 325.50 53.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.00 325.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.00 325.50 53.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 295.50 398.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.00 295.50 53.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.00 295.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.00 295.50 53.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448 369.5 m 501 369.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448 369.5 m 501 369.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448 355.5 m 501 355.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501 369.5 m 505 369.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 369.5 m 558 369.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 355.5 m 558 355.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448 355.5 m 501 355.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448 341.5 m 501 341.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448 339.5 m 501 339.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 355.5 m 558 355.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 341.5 m 558 341.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 339.5 m 558 339.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448 339.5 m 501 339.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448 341.5 m 501 341.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 339.5 m 558 339.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 341.5 m 558 341.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448 310.5 m 501 310.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 310.5 m 558 310.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448 296.5 m 501 296.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448 294.5 m 501 294.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 296.5 m 558 296.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 294.5 m 558 294.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448 294.5 m 501 294.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448 296.5 m 501 296.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448 281.5 m 501 281.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448 279.5 m 501 279.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 294.5 m 558 294.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 296.5 m 558 296.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 281.5 m 558 281.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 279.5 m 558 279.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448 266.5 m 501 266.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448 264.5 m 501 264.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 266.5 m 558 266.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 264.5 m 558 264.5 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 373.75 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 457.00 384.18 Td (Thr) Tj ET Q q 0 0 0 rg BT 473.58 384.18 Td (ee Months Ended) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.70 374.18 Td (February 28,) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 52.50 360.06 Td (\(in millions, except per shar) Tj ET Q q 0 0 0 rg BT 164.61 360.06 Td (e data\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 464.00 360.18 Td (2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 521.00 360.18 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 346.07 Td (Net income for basic and diluted earnings per share) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.50 345.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.15 345.17 Td (391) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.50 345.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.15 345.17 Td (352) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 331.07 Td (W) Tj ET Q q 0 0 0 rg BT 61.54 331.07 Td (eighted-average shares outstanding) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.15 330.17 Td (717) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.15 330.17 Td (725) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 316.07 Td (Dilutive ef) Tj ET Q q 0 0 0 rg BT 95.45 316.07 Td (fect of equity plans) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.15 315.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 315.17 Td (3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 301.07 Td (Diluted weighted-average shares outstanding) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.15 300.17 Td (719) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.15 300.17 Td (728) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 286.07 Td (Basic earnings per share) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.50 285.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.65 285.17 Td (0.54) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.50 285.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 285.17 Td (0.48) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 270.17 Td (Diluted earnings per share) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.50 270.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.65 270.17 Td (0.54) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.50 270.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 270.17 Td (0.48) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 230.00 Td (NOTE 7 Shar) Tj ET Q q 0 0 0 rg BT 116.22 230.00 Td (eholders) Tj ET Q q 0 0 0 rg BT 154.92 230.00 Td ( Equity ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 209.00 Td (During the three months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 176.36 209.00 Td (February28, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.96 209.00 Td (, we repurchased ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.92 209.00 Td (3.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.81 209.00 Td ( shares of Carnival plc ordinary shares and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 537.09 209.00 Td (0.2 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 197.00 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.89 197.00 Td ( shares of Carnival Corporation common stock for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.73 197.00 Td ($204 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.13 197.00 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.56 197.00 Td ($12 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.96 197.00 Td (, respectively) Tj ET Q q 0 0 0 rg BT 452.62 197.00 Td (, under our general ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 185.00 Td (authorization to repurchase Carnival Corporation common stock and/or Carnival plc ordinary shares \(the Repurchase ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 173.00 Td (Program\). ) Tj ET Q q 0 0 0 rg BT 96.66 173.00 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 109.16 173.00 Td (February28, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 182.75 173.00 Td (, the remaining availability under the Repurchase Program was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.12 173.00 Td ($370 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.51 173.00 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 152.00 Td (During the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.55 152.00 Td (three months ended February 28, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.96 152.00 Td (, our Boards of Directors declared a dividend to holders of Carnival ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 140.00 Td (Corporation common stock and Carnival plc ordinary shares of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 305.21 140.00 Td ($0.45) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.71 140.00 Td ( per share.) Tj ET Q endstream endobj 33 0 obj <>] /Rotate 0 /Contents 34 0 R>> endobj 34 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (16) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 742.25 Td (Item 2. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 91.990234375 740.68505859375 m 471.12109375 740.68505859375 l s q 0 0 0 rg BT 91.99 742.25 Td (Management) Tj ET Q q 0 0 0 rg BT 151.05 742.25 Td (s Discussion and ) Tj ET Q q 0 0 0 rg BT 223.03 742.25 Td (Analysis of Financial Condition and Results of Operations) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 471.12 742.25 Td (. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 27.00 715.25 Td (Cautionary Note Concerning Factors ) Tj ET Q q 0 0 0 rg BT 187.91 715.25 Td (That May ) Tj ET Q q 0 0 0 rg BT 232.36 715.25 Td (Affect Futur) Tj ET Q q 0 0 0 rg BT 285.76 715.25 Td (e Results ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 691.25 Td (Some of the statements, estimates or projections contained in this document are forward-looking statements that involve risks, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 679.25 Td (uncertainties and assumptions with respect to us, including some statements concerning future results, outlooks, plans, goals and other ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 667.25 Td (events which have not yet occurred. ) Tj ET Q q 0 0 0 rg BT 173.15 667.25 Td (These statements are intended to qualify for the safe harbors from liability provided by Section 27A) Tj ET Q q 0 0 0 rg BT 572.21 667.25 Td ( of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 655.25 Td (the Securities ) Tj ET Q q 0 0 0 rg BT 83.10 655.25 Td (Act of 1933 and Section 21E of the Securities Exchange ) Tj ET Q q 0 0 0 rg BT 310.26 655.25 Td (Act of 1934. ) Tj ET Q q 0 0 0 rg BT 362.48 655.25 Td (All statements other than statements of historical facts ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 643.25 Td (are statements that could be deemed forward-looking. ) Tj ET Q q 0 0 0 rg BT 244.52 643.25 Td (These statements are based on current expectations, estimates, forecasts and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 631.25 Td (projections about our business and the industry in which we operate and the beliefs and assumptions of our management. ) Tj ET Q q 0 0 0 rg BT 513.37 631.25 Td (W) Tj ET Q q 0 0 0 rg BT 522.01 631.25 Td (e have tried, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 619.25 Td (whenever possible, to identify these statements by using words like will, may) Tj ET Q q 0 0 0 rg BT 349.33 619.25 Td (, could, should, would, believe, depends, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 607.25 Td (expect, goal, anticipate, forecast, project, future, intend, plan, estimate, tar) Tj ET Q q 0 0 0 rg BT 407.69 607.25 Td (get, indicate, outlook and similar ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 595.25 Td (expressions of future intent or the negative of such terms. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 571.25 Td (Forward-looking statements include those statements that relate to our outlook and financial position including, but not limited to, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 559.25 Td (statements regarding: ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 48.00 537.93 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.20 537.93 Td ( ) Tj ET Q q 0 0 0 rg BT 66.00 537.93 Td (Net revenue yields) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 279.00 537.93 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.20 537.93 Td ( ) Tj ET Q q 0 0 0 rg BT 297.00 537.93 Td (Net cruise costs, excluding fuel per available lower berth day) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 48.00 523.93 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.20 523.93 Td ( ) Tj ET Q q 0 0 0 rg BT 66.00 523.93 Td (Booking levels) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 279.00 523.93 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.20 523.93 Td ( ) Tj ET Q q 0 0 0 rg BT 297.00 523.93 Td (Estimates of ship depreciable lives and residual values) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 48.00 509.93 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.20 509.93 Td ( ) Tj ET Q q 0 0 0 rg BT 66.00 509.93 Td (Pricing and occupancy) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 279.00 509.93 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.20 509.93 Td ( ) Tj ET Q q 0 0 0 rg BT 297.00 509.93 Td (Goodwill, ship and trademark fair values) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 48.00 495.93 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.20 495.93 Td ( ) Tj ET Q q 0 0 0 rg BT 66.00 495.93 Td (Interest, tax and fuel expenses) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 279.00 495.93 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.20 495.93 Td ( ) Tj ET Q q 0 0 0 rg BT 297.00 495.93 Td (Liquidity) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 48.00 481.93 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.20 481.93 Td ( ) Tj ET Q q 0 0 0 rg BT 66.00 481.93 Td (Currency exchange rates) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 279.00 481.93 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.20 481.93 Td ( ) Tj ET Q q 0 0 0 rg BT 297.00 481.93 Td (Adjusted earnings per share) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 461.25 Td (Because forward-looking statements involve risks and uncertainties, there are many factors that could cause our actual results, performance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 449.25 Td (or achievements to dif) Tj ET Q q 0 0 0 rg BT 115.96 449.25 Td (fer materially from those expressed or implied by our forward-looking statements. ) Tj ET Q q 0 0 0 rg BT 447.35 449.25 Td (This note contains important ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 437.25 Td (cautionary statements of the known factors that we consider could materially af) Tj ET Q q 0 0 0 rg BT 344.76 437.25 Td (fect the accuracy of our forward-looking statements and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 425.25 Td (adversely af) Tj ET Q q 0 0 0 rg BT 75.40 425.25 Td (fect our business, results of operations and financial position. It is not possible to predict or identify all such risks. ) Tj ET Q q 0 0 0 rg BT 533.20 425.25 Td (There may ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 413.25 Td (be additional risks that we consider immaterial or which are unknown. ) Tj ET Q q 0 0 0 rg BT 311.18 413.25 Td (These factors include, but are not limited to, the following:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 388.85 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 388.85 Td (The demand for cruises may decline due to adverse world events impacting the ability or desire of people to travel, including ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 378.85 Td (conditions) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 86.67 378.85 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.17 378.85 Td (af) Tj ET Q q 0 0 0 rg BT 96.75 378.85 Td (fecting the safety and security of travel, government regulations and requirements, and decline in consumer confidence ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 364.45 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 364.45 Td (Incidents, such as ship incidents, security incidents, the spread of contagious diseases and threats thereof, adverse weather conditions ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 350.05 Td (or other natural disasters and the related adverse publicity af) Tj ET Q q 0 0 0 rg BT 286.11 350.05 Td (fecting our reputation and the health, safety) Tj ET Q q 0 0 0 rg BT 459.57 350.05 Td (, security and satisfaction of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 335.65 Td (guests and crew) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 321.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 321.25 Td (Changes in and compliance with laws and regulations relating to environment, health, safety) Tj ET Q q 0 0 0 rg BT 414.25 321.25 Td (, security) Tj ET Q q 0 0 0 rg BT 450.25 321.25 Td (, data privacy and protection, tax ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 306.85 Td (and anti-corruption under which we operate may lead to litigations, enforcement actions, fines, or penalties) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 292.45 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 292.45 Td (Disruptions and other damages to our information technology and other networks and operations, breaches in data security) Tj ET Q q 0 0 0 rg BT 535.05 292.45 Td (, lapses in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 278.05 Td (data privacy) Tj ET Q q 0 0 0 rg BT 93.49 278.05 Td (, and failure to keep pace with developments in technology) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 263.65 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 263.65 Td (Ability to recruit, develop and retain qualified shipboard personnel who live on ships away from home for extended periods of time) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 249.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 249.25 Td (Increases in fuel prices and availability of fuel supply) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 234.85 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 234.85 Td (Fluctuations in foreign currency exchange rates) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 220.45 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 220.45 Td (Overcapacity and competition in the cruise ship and land-based vacation industry) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 206.05 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 206.05 Td (Continuing financial viability of our travel agent distribution system, air service providers and other key vendors in our supply chain, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 191.65 Td (as well as reductions in the availability of, and increases in the prices for) Tj ET Q q 0 0 0 rg BT 335.06 191.65 Td (, the services and products provided by these vendors) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 177.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 177.25 Td (Inability to implement our shipbuilding programs and ship repairs, maintenance and refurbishments on terms that are favorable or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 162.85 Td (consistent with our expectations, as well as increases to our repairs and maintenance expenses and refurbishment costs as our fleet ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 148.45 Td (ages) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 134.05 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 134.05 Td (Geographic regions in which we try to expand our business may be slow to develop and ultimately not develop how we expect) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 110.05 Td (The ordering of the risk factors set forth above is not intended to reflect our indication of priority or likelihood. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 92.05 Td (Forward-looking statements should not be relied upon as a prediction of actual results. Subject to any continuing obligations under ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 80.05 Td (applicable law or any relevant stock exchange rules, we expressly disclaim any obligation to disseminate, after the date of this document, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 68.05 Td (any updates or revisions to any such forward-looking statements to reflect any change in expectations or events, conditions or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 56.05 Td (circumstances on which any such statements are based.) Tj ET Q endstream endobj 35 0 obj <>] /Rotate 0 /Contents 36 0 R>> endobj 36 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (17) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 27.00 730.25 Td (New ) Tj ET Q q 0 0 0 rg BT 47.83 730.25 Td (Accounting Pr) Tj ET Q q 0 0 0 rg BT 109.59 730.25 Td (onouncements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 706.25 Td (Refer to our consolidated financial statements for further information on ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 319.13 706.25 Td (Accounting Pr) Tj ET Q q 0 0 0 rg BT 376.80 706.25 Td (onouncements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.01 706.25 Td (. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 27.00 682.25 Td (Critical ) Tj ET Q q 0 0 0 rg BT 61.71 682.25 Td (Accounting Estimates) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 154.76 682.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 658.25 Td (For a discussion of our critical accounting estimates, see Management) Tj ET Q q 0 0 0 rg BT 314.69 658.25 Td (s Discussion and ) Tj ET Q q 0 0 0 rg BT 383.86 658.25 Td (Analysis of Financial Condition and Results of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 646.25 Td (Operations that is included in the Form 10-K.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 27.00 622.25 Td (Seasonality) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 598.25 Td (Our revenues from the sale of passenger tickets are seasonal. Historically) Tj ET Q q 0 0 0 rg BT 319.30 598.25 Td (, demand for cruises has been greatest during our third quarter) Tj ET Q q 0 0 0 rg BT 567.42 598.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 586.25 Td (which includes the Northern Hemisphere summer months. ) Tj ET Q q 0 0 0 rg BT 262.88 586.25 Td (This higher demand during the third quarter results in higher ticket prices and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 574.25 Td (occupancy levels and, accordingly) Tj ET Q q 0 0 0 rg BT 164.07 574.25 Td (, the lar) Tj ET Q q 0 0 0 rg BT 194.15 574.25 Td (gest share of our operating income is earned during this period. ) Tj ET Q q 0 0 0 rg BT 449.46 574.25 Td (The seasonality of our results ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 562.25 Td (also increases due to ships being taken out-of-service for maintenance, which we schedule during non-peak demand periods. In addition, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 550.25 Td (substantially all of Holland ) Tj ET Q q 0 0 0 rg BT 137.54 550.25 Td (America Princess ) Tj ET Q q 0 0 0 rg BT 209.74 550.25 Td (Alaska ) Tj ET Q q 0 0 0 rg BT 239.83 550.25 Td (T) Tj ET Q q 0 0 0 rg BT 245.24 550.25 Td (ours) Tj ET Q q 0 0 0 rg BT 265.05 550.25 Td ( revenue and net income is generated from May through September in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 538.25 Td (conjunction with the ) Tj ET Q q 0 0 0 rg BT 111.16 538.25 Td (Alaska cruise season.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 514.25 Td (Statistical Information) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 31.00 464.75 417.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.00 464.75 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.00 464.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.00 464.75 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 31.00 434.75 417.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.00 434.75 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.00 434.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.00 434.75 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 31.00 404.75 417.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.00 404.75 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.00 404.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.00 404.75 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 31.00 374.75 417.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.00 374.75 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.00 374.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.00 374.75 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 31.00 344.75 417.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.00 344.75 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.00 344.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.00 344.75 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 31.00 314.75 417.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.00 314.75 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.00 314.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.00 314.75 64.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448 479.75 m 512 479.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512 479.75 m 516 479.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516 479.75 m 580 479.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448 464.75 m 512 464.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516 464.75 m 580 464.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448 464.75 m 512 464.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516 464.75 m 580 464.75 l s BT /F2 9.00 Tf ET q 0 0 0 rg BT 472.55 493.20 Td (Thr) Tj ET Q q 0 0 0 rg BT 487.39 493.20 Td (ee Months Ended) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 488.50 484.20 Td (February 28,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 469.50 469.43 Td (2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 537.50 469.43 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 33.50 454.42 Td (A) Tj ET Q q 0 0 0 rg BT 40.35 454.42 Td (vailable Lower Berth Days \("ALBDs"\) \(in thousands\) \(a\) \(b\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.65 454.42 Td (20,462) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 454.42 Td (20,024) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 33.50 439.42 Td (Occupancy percentage \(c\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.65 439.42 Td (104.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 503.15 439.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 439.42 Td (104.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 571.15 439.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 33.50 424.42 Td (Passengers carried \(in thousands\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.65 424.42 Td (2,860) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 424.42 Td (2,769) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 33.50 409.42 Td (Fuel consumption in metric tons \(in thousands\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.15 409.42 Td (821) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 556.15 409.42 Td (818) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 33.50 394.42 Td (Fuel consumption in metric tons per thousand ) Tj ET Q q 0 0 0 rg BT 219.03 394.42 Td (ALBDs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.65 394.42 Td (40.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 394.42 Td (40.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 33.50 379.42 Td (Fuel cost per metric ton consumed) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.50 379.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.15 379.42 Td (437) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.50 379.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 556.15 379.42 Td (362) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 33.50 364.42 Td (Currencies \(USD to 1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.50 349.42 Td (AUD) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.50 349.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.65 349.42 Td (0.78) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.50 349.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 349.42 Td (0.75) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.50 334.42 Td (CAD) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.50 334.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.65 334.42 Td (0.79) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.50 334.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 334.42 Td (0.76) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.50 319.42 Td (EUR) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.50 319.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.65 319.42 Td (1.21) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.50 319.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 319.42 Td (1.06) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.50 304.42 Td (GBP) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.50 304.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.65 304.42 Td (1.37) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.50 304.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 304.42 Td (1.24) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.50 289.42 Td (RMB) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.50 289.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.65 289.42 Td (0.15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.50 289.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 289.42 Td (0.15) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 31.50 261.25 Td (\(a\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 261.25 Td (ALBD is a standard measure of passenger capacity for the period that we use to approximate rate and capacity variances, based ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 249.25 Td (on consistently applied formulas that we use to perform analyses to determine the main non-capacity driven factors that cause ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 237.25 Td (our cruise revenues and expenses to vary) Tj ET Q q 0 0 0 rg BT 230.68 237.25 Td (.) Tj ET Q q 0 0 0 rg BT 235.13 237.25 Td (ALBDs assume that each cabin we of) Tj ET Q q 0 0 0 rg BT 385.45 237.25 Td (fer for sale accommodates two passengers and is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 225.25 Td (computed by multiplying passenger capacity by revenue-producing ship operating days in the period.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 31.50 201.25 Td (\(b\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 201.25 Td (For the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 98.61 201.25 Td (three months ended February 28, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 253.02 201.25 Td ( compared to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.44 201.25 Td (three months ended February 28, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.85 201.25 Td (, we had a 2.2% capacity ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 189.25 Td (increase in ) Tj ET Q q 0 0 0 rg BT 112.48 189.25 Td (ALBDs comprised of a 1.4% capacity increase in our NAA) Tj ET Q q 0 0 0 rg BT 349.63 189.25 Td ( segment and a 3.5% capacity increase in our EA) Tj ET Q q 0 0 0 rg BT 545.12 189.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 177.25 Td (segment. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 153.25 Td (Our NAA) Tj ET Q q 0 0 0 rg BT 106.67 153.25 Td ( capacity increase was caused by:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 141.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 141.25 Td (Full quarter impact from one Princess Cruises 3,560-passenger capacity ship that entered into service in ) Tj ET Q q 0 0 0 rg BT 520.61 141.25 Td (April 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 129.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 129.25 Td (Partially of) Tj ET Q q 0 0 0 rg BT 148.03 129.25 Td (fset by the full quarter impact by one P&O Cruises \(Australia\) 1,550-passenger capacity ship removed from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 117.25 Td (the service in ) Tj ET Q q 0 0 0 rg BT 158.76 117.25 Td (April 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 93.25 Td (Our EA) Tj ET Q q 0 0 0 rg BT 98.33 93.25 Td ( segment) Tj ET Q q 0 0 0 rg BT 136.93 93.25 Td (s capacity increase was caused by:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 81.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 81.25 Td (Full quarter impact from one ) Tj ET Q q 0 0 0 rg BT 220.97 81.25 Td (AIDA) Tj ET Q q 0 0 0 rg BT 245.41 81.25 Td ( Cruises 3,290-passenger capacity ship that entered into service in June 2017) Tj ET Q endstream endobj 37 0 obj <>] /Rotate 0 /Contents 38 0 R>> endobj 38 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (18) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 31.50 742.10 Td (\(c\) ) Tj ET Q q 0 0 0 rg BT 67.50 742.10 Td (In accordance with cruise industry practice, occupancy is calculated using a denominator of ) Tj ET Q q 0 0 0 rg BT 436.25 742.10 Td (ALBDs, which assumes two ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 730.10 Td (passengers per cabin even though some cabins can accommodate three or more passengers. Percentages in excess of 100% ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 718.10 Td (indicate that on average more than two passengers occupied some cabins.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 27.00 694.10 Td (Thr) Tj ET Q q 0 0 0 rg BT 43.49 694.10 Td (ee Months Ended February 28, 2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 198.49 694.10 Td ( \() Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 209.32 694.10 Td (2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 229.32 694.10 Td (\) Compar) Tj ET Q q 0 0 0 rg BT 275.52 694.10 Td (ed to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 298.67 694.10 Td (Thr) Tj ET Q q 0 0 0 rg BT 315.16 694.10 Td (ee Months Ended February 28, 2017) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 470.16 694.10 Td ( \() Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 480.99 694.10 Td (2017) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 500.99 694.10 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 670.10 Td (Revenues ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.00 646.10 Td (Consolidated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 622.10 Td (Cruise passenger ticket revenues made up ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 196.94 622.10 Td (74%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 215.27 622.10 Td ( of our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 244.43 622.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 264.43 622.10 Td ( total revenues. Cruise passenger ticket revenues increased by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.78 622.10 Td ($345 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 610.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 55.89 610.10 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.72 610.10 Td (12%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 90.05 610.10 Td (, to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 105.33 610.10 Td ($3.1 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 151.44 610.10 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 164.22 610.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 184.22 610.10 Td ( from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 208.66 610.10 Td ($2.8 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 254.77 610.10 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 267.55 610.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.55 610.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 586.10 Td (This increase was driven by:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 574.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 574.10 Td ($149 million - foreign currency translational impact from a weaker U.S. dollar against the functional currencies of our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 562.10 Td (foreign operations \(foreign currency translational impact\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 550.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 550.10 Td ($76 million - increase in cruise ticket revenues, driven primarily by price improvements in our Caribbean, ) Tj ET Q q 0 0 0 rg BT 488.99 550.10 Td (Australian, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 538.10 Td (European and various other programs including ) Tj ET Q q 0 0 0 rg BT 256.10 538.10 Td (W) Tj ET Q q 0 0 0 rg BT 264.74 538.10 Td (orld Cruises) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 526.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 526.10 Td ($61 million - 2.2% capacity increase in ) Tj ET Q q 0 0 0 rg BT 221.84 526.10 Td (ALBDs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 514.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 514.10 Td ($36 million - increase in air transportation revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 502.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 502.10 Td ($18 million - increase in other passenger revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 478.10 Td (The remaining ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 88.09 478.10 Td (26%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 106.42 478.10 Td ( of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 119.75 478.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 139.75 478.10 Td ( total revenues were substantially all comprised of onboard and other cruise revenues, which increased ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 466.10 Td (by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 39.50 466.10 Td ($93 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.89 466.10 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 101.72 466.10 Td (9.5%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.55 466.10 Td (, to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.83 466.10 Td ($1.1 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 183.94 466.10 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 196.72 466.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 216.72 466.10 Td ( from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 241.16 466.10 Td ($1.0 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.27 466.10 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.05 466.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.05 466.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 442.10 Td ( ) Tj ET Q q 0 0 0 rg BT 44.32 442.10 Td (This increase was driven by: ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 430.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 430.10 Td ($33 million - foreign currency translational impact) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 418.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 418.10 Td ($31 million - higher onboard spending by our guests) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 406.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 406.10 Td ($21 million - 2.2% capacity increase in ) Tj ET Q q 0 0 0 rg BT 221.84 406.10 Td (ALBDs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 382.10 Td (Concession revenues, which are included in onboard and other revenues, increased by $21 million, or 9.1%, to $247 million in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.05 382.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 556.05 382.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 370.10 Td (from $227 million in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 113.11 370.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 133.11 370.10 Td (. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.00 346.10 Td (NAA) Tj ET Q q 0 0 0 rg BT 75.11 346.10 Td ( Segment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 322.10 Td (Cruise passenger ticket revenues made up ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 196.94 322.10 Td (71%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 215.27 322.10 Td ( of our NAA) Tj ET Q q 0 0 0 rg BT 265.54 322.10 Td ( segment) Tj ET Q q 0 0 0 rg BT 304.15 322.10 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 310.54 322.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 330.54 322.10 Td ( total revenues.Cruise passenger ticket revenues ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 310.10 Td (increased by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.75 310.10 Td ($1) Tj ET Q q 0 0 0 rg BT 89.38 310.10 Td (17 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 130.77 310.10 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 146.60 310.10 Td (6.5%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 167.43 310.10 Td (, to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 182.71 310.10 Td ($1.9 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 228.83 310.10 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 241.60 310.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 261.60 310.10 Td ( compared to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.31 310.10 Td ($1.8 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.42 310.10 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 375.20 310.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.20 310.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 286.10 Td (This increase was driven by:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 274.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 274.10 Td ($74 million - increase in cruise ticket revenues, driven primarily by price improvements in the Caribbean and ) Tj ET Q q 0 0 0 rg BT 502.31 274.10 Td (Australian ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 262.10 Td (programs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 250.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 250.10 Td ($26 million - 1.4% capacity increase in ) Tj ET Q q 0 0 0 rg BT 221.84 250.10 Td (ALBDs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 226.10 Td (The remaining ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 88.09 226.10 Td (29%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 106.42 226.10 Td ( of our NAA) Tj ET Q q 0 0 0 rg BT 156.69 226.10 Td ( segment) Tj ET Q q 0 0 0 rg BT 195.30 226.10 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 201.69 226.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 221.69 226.10 Td ( total revenues were comprised of onboard and other cruise revenues, which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 214.10 Td (increased by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.75 214.10 Td ($50 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 126.15 214.10 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 141.98 214.10 Td (6.9%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 162.81 214.10 Td (, to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 178.08 214.10 Td ($767 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 229.48 214.10 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 242.25 214.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 262.25 214.10 Td ( from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 286.69 214.10 Td ($718 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.08 214.10 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.86 214.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.86 214.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 190.10 Td (This increase was driven by:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 178.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 178.10 Td ($33 million - higher onboard spending by our guests) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 166.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 166.10 Td ($10 million - 1.4% capacity increase in ) Tj ET Q q 0 0 0 rg BT 221.84 166.10 Td (ALBDs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 142.10 Td (Concession revenues, which are included in onboard and other revenues, increased by $10 million, or 6.0%, to $172 million in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.05 142.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 556.05 142.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 130.10 Td (from $162 million in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 113.11 130.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 133.11 130.10 Td (. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.00 106.10 Td (EA) Tj ET Q q 0 0 0 rg BT 67.34 106.10 Td ( Segment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 82.10 Td (Cruise passenger ticket revenues made up ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 196.94 82.10 Td (82%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 215.27 82.10 Td ( of our EA) Tj ET Q q 0 0 0 rg BT 257.21 82.10 Td ( segment) Tj ET Q q 0 0 0 rg BT 295.81 82.10 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.21 82.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.21 82.10 Td ( total revenues.Cruise passenger ticket revenues increased ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 70.10 Td (by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 39.50 70.10 Td ($232 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 90.89 70.10 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 106.72 70.10 Td (23%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 125.05 70.10 Td (, to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 140.33 70.10 Td ($1.2 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 186.44 70.10 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 199.22 70.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 219.22 70.10 Td ( compared to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.92 70.10 Td ($1.0 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.04 70.10 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.82 70.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 352.82 70.10 Td (. ) Tj ET Q endstream endobj 39 0 obj <>] /Rotate 0 /Contents 40 0 R>> endobj 40 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (19) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 742.10 Td (This increase was driven by:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 730.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 730.10 Td ($145 million - foreign currency translational impact ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 718.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 718.10 Td ($35 million - 3.5% capacity increase in ) Tj ET Q q 0 0 0 rg BT 221.84 718.10 Td (ALBDs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 706.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 706.10 Td ($25 million - increase in air transportation revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 694.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 694.10 Td ($17 million - increase in cruise ticket revenues, driven primarily by price improvements in the European and various other ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 682.10 Td (programs including ) Tj ET Q q 0 0 0 rg BT 143.36 682.10 Td (W) Tj ET Q q 0 0 0 rg BT 152.00 682.10 Td (orld Cruises) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 658.10 Td (The remaining ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 88.09 658.10 Td (18%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 106.42 658.10 Td ( of our EA) Tj ET Q q 0 0 0 rg BT 148.36 658.10 Td ( segment) Tj ET Q q 0 0 0 rg BT 186.96 658.10 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 193.35 658.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 213.35 658.10 Td ( total revenues were comprised of onboard and other cruise revenues, which increased ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 646.10 Td (by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 39.50 646.10 Td ($45 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.89 646.10 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 101.72 646.10 Td (21%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.05 646.10 Td (, and were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 163.92 646.10 Td ($265 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 215.31 646.10 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 228.09 646.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 248.09 646.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 267.53 646.10 Td ($220 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.92 646.10 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.70 646.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.70 646.10 Td (. ) Tj ET Q q 0 0 0 rg BT 356.52 646.10 Td (This increase was driven by the foreign currency ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 634.10 Td (translational impact, which accounted for $31 million. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 610.10 Td (Concession revenues, which are included in onboard and other revenues, increased by $1) Tj ET Q q 0 0 0 rg BT 383.18 610.10 Td (1 million, or 17%, to $76 million in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.18 610.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.18 610.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 598.10 Td (from $65 million in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.11 598.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.11 598.10 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 574.10 Td (Costs and Expenses ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.00 550.10 Td (Consolidated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 526.10 Td (Operating costs and expenses increased by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 200.28 526.10 Td ($275 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 251.67 526.10 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 267.50 526.10 Td (1) Tj ET Q q 0 0 0 rg BT 272.13 526.10 Td (1%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 285.46 526.10 Td (, to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.74 526.10 Td ($2.7 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.85 526.10 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.63 526.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.63 526.10 Td ( from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.07 526.10 Td ($2.4 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.18 526.10 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.96 526.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.96 526.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 502.10 Td (This increase was driven by: ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 46.00 490.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 490.10 Td ($108 million - foreign currency translational impact) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 46.00 478.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 478.10 Td ($61 million - higher fuel prices) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 46.00 466.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 466.10 Td ($53 million - 2.2% capacity increase in ) Tj ET Q q 0 0 0 rg BT 222.84 466.10 Td (ALBDs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 46.00 454.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 454.10 Td ($39 million - higher commissions, transportation and other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 430.10 Td (Selling and administrative expenses increased by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.83 430.10 Td ($67 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.22 430.10 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.05 430.10 Td (12%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.38 430.10 Td (, to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.66 430.10 Td ($616 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.05 430.10 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.83 430.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.83 430.10 Td ( from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.27 430.10 Td ($549 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.66 430.10 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.44 430.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.44 430.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 406.10 Td (This increase was driven by:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 46.00 394.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 394.10 Td ($25 million - higher administrative expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 46.00 382.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 382.10 Td ($22 million - foreign currency translational impact) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 46.00 370.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 370.10 Td ($12 million - 2.2% capacity increase in ) Tj ET Q q 0 0 0 rg BT 222.84 370.10 Td (ALBDs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 346.10 Td (Depreciation and amortization expenses increased by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 242.47 346.10 Td ($49 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.86 346.10 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.69 346.10 Td (1) Tj ET Q q 0 0 0 rg BT 309.32 346.10 Td (1%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.65 346.10 Td (, to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.93 346.10 Td ($488 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.32 346.10 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.10 346.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.10 346.10 Td ( from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.54 346.10 Td ($439 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.93 346.10 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.71 346.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.71 346.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 322.10 Td (This increase was caused by:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 46.00 310.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 310.10 Td ($21 million - fleet enhancements and investments in shoreside assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 46.00 298.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 298.10 Td ($19 million - foreign currency translational impact) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 46.00 286.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 286.10 Td ($10 million - 2.2% capacity increase in ) Tj ET Q q 0 0 0 rg BT 222.84 286.10 Td (ALBDs) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.00 262.10 Td (NAA) Tj ET Q q 0 0 0 rg BT 75.11 262.10 Td ( Segment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 238.10 Td (Operating costs and expenses increased by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 200.28 238.10 Td ($101 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 251.67 238.10 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 267.50 238.10 Td (6.5%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.33 238.10 Td (, to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.61 238.10 Td ($1.7 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.72 238.10 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.50 238.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.50 238.10 Td ( from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.94 238.10 Td ($1.6 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.05 238.10 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.83 238.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.83 238.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 214.10 Td (This increase was caused by:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 46.00 202.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 202.10 Td ($42 million - higher fuel prices) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 46.00 190.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 190.10 Td ($22 million - 1.4% capacity increase in ) Tj ET Q q 0 0 0 rg BT 222.84 190.10 Td (ALBDs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 46.00 178.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 178.10 Td ($15 million - higher commissions, transportation and other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 46.00 166.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 166.10 Td ($13 million - higher cruise payroll and related expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 46.00 154.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 154.10 Td ($12 million - higher port expenses ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 130.10 Td (Selling and administrative expenses increased by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.83 130.10 Td ($34 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.22 130.10 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.05 130.10 Td (10%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.38 130.10 Td (, to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.66 130.10 Td ($367 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.05 130.10 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.83 130.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.83 130.10 Td ( from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.27 130.10 Td ($333 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.66 130.10 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.44 130.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.44 130.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 106.10 Td (This increase was driven by:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 46.00 94.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 94.10 Td ($15 million - higher advertising and promotion expenses ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 46.00 82.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 82.10 Td ($14 million - higher administrative expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 58.10 Td (Depreciation and amortization expenses increased by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 242.47 58.10 Td ($10 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.86 58.10 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.69 58.10 Td (3.5%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 325.52 58.10 Td (, to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.80 58.10 Td ($299 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.19 58.10 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.97 58.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.97 58.10 Td ( from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.41 58.10 Td ($289 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.80 58.10 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.58 58.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.58 58.10 Td (. ) Tj ET Q endstream endobj 41 0 obj <>] /Rotate 0 /Contents 42 0 R>> endobj 42 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (20) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.00 742.25 Td (EA) Tj ET Q q 0 0 0 rg BT 67.34 742.25 Td ( Segment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 718.25 Td (Operating costs and expenses increased by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 200.28 718.25 Td ($146 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 251.67 718.25 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 267.50 718.25 Td (17%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 285.83 718.25 Td (, to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.11 718.25 Td ($1.0 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 347.22 718.25 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.00 718.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.00 718.25 Td ( from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.44 718.25 Td ($0.9 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.55 718.25 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.33 718.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.33 718.25 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 694.25 Td (This increase was caused by:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 46.00 682.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 682.25 Td ($104 million - foreign currency translational impact) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 46.00 670.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 670.25 Td ($30 million - 3.5% capacity increase in ) Tj ET Q q 0 0 0 rg BT 222.84 670.25 Td (ALBDs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 46.00 658.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 658.25 Td ($25 million - higher commissions, transportation and other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 46.00 646.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 646.25 Td ($20 million - higher fuel prices) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 622.25 Td (These increases were partially of) Tj ET Q q 0 0 0 rg BT 176.42 622.25 Td (fset by:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 46.00 610.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 610.25 Td ($12 million - lower dry-dock expenses and repair and maintenance expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 46.00 598.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 598.25 Td ($10 million - lower cruise payroll and related expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 574.25 Td (Selling and administrative expenses increased by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.83 574.25 Td ($29 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.22 574.25 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.05 574.25 Td (18%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.38 574.25 Td (, to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.66 574.25 Td ($188 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.05 574.25 Td ( in 2018 from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.27 574.25 Td ($159 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.66 574.25 Td ( in 2017. ) Tj ET Q q 0 0 0 rg BT 519.26 574.25 Td (This ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 562.25 Td (increase was driven by foreign currency translational impact, which accounted for $22 million.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 538.25 Td (Depreciation and amortization expenses increased by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 242.47 538.25 Td ($27 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.86 538.25 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.69 538.25 Td (20%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.02 538.25 Td (, to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.30 538.25 Td ($157 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.69 538.25 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.47 538.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.47 538.25 Td ( from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.91 538.25 Td ($130 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.30 538.25 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.08 538.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.08 538.25 Td (. ) Tj ET Q q 0 0 0 rg BT 535.90 538.25 Td (This ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 526.25 Td (increase was driven by foreign currency translational impact, which accounted for $18 million.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 502.25 Td (Operating Income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 478.25 Td (Our consolidated operating income increased by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 223.04 478.25 Td ($51 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.44 478.25 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 285.27 478.25 Td (14%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.60 478.25 Td (, to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.88 478.25 Td ($419 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.27 478.25 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.04 478.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.04 478.25 Td ( from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.48 478.25 Td ($368 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.88 478.25 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.65 478.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.65 478.25 Td (. Our NAA) Tj ET Q q 0 0 0 rg BT 555.82 478.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 466.25 Td (segment) Tj ET Q q 0 0 0 rg BT 63.10 466.25 Td (s operating income increased by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 194.45 466.25 Td ($22 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 240.84 466.25 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.67 466.25 Td (6.4%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 277.50 466.25 Td (, to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.78 466.25 Td ($360 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.17 466.25 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.95 466.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.95 466.25 Td ( from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.38 466.25 Td ($338 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.78 466.25 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.55 466.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.55 466.25 Td (, and our EA) Tj ET Q q 0 0 0 rg BT 536.10 466.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 454.25 Td (segment) Tj ET Q q 0 0 0 rg BT 63.10 454.25 Td (s operating income increased by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 194.45 454.25 Td ($76 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 240.84 454.25 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.67 454.25 Td (97%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 275.00 454.25 Td (, to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 290.28 454.25 Td ($154 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.67 454.25 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.45 454.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.45 454.25 Td ( from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.88 454.25 Td ($78 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.28 454.25 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.05 454.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.05 454.25 Td (. ) Tj ET Q q 0 0 0 rg BT 482.87 454.25 Td (These changes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 442.25 Td (were primarily due to the reasons discussed above.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 230.27 442.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 418.25 Td (Nonoperating Income \(Expense\) ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 27.50 368.75 452.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 479.50 368.75 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 534.50 368.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 538.50 368.75 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 27.50 338.75 452.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 479.50 338.75 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 534.50 338.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 538.50 338.75 55.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 479.5 383.75 m 534.5 383.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 534.5 383.75 m 538.5 383.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 538.5 383.75 m 593.5 383.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 479.5 368.75 m 534.5 368.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 538.5 368.75 m 593.5 368.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 479.5 368.75 m 534.5 368.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 538.5 368.75 m 593.5 368.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 479.5 338.75 m 534.5 338.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 538.5 338.75 m 593.5 338.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 479.5 324.75 m 534.5 324.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 479.5 322.75 m 534.5 322.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 538.5 324.75 m 593.5 324.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 538.5 322.75 m 593.5 322.75 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 490.50 398.43 Td (Thr) Tj ET Q q 0 0 0 rg BT 507.08 398.43 Td (ee Months Ended) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 508.20 388.43 Td (February 28,) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 30.00 373.46 Td (\(in millions\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 496.50 373.43 Td (2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 555.50 373.43 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 30.00 359.32 Td (Unrealized gains on fuel derivatives, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.00 358.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.65 358.42 Td (32) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.00 358.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 579.65 358.42 Td (72) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 30.00 344.32 Td (Realized losses on fuel derivatives, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.30 343.47 Td (\(16) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 343.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 576.30 343.42 Td (\(45) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 589.65 343.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 30.00 329.32 Td (Gains on fuel derivatives, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.00 328.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.65 328.42 Td (16) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.00 328.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 579.65 328.42 Td (27) Tj ET Q BT /F1 10.00 Tf ET BT /F3 10.00 Tf ET q 0 0 0 rg BT 27.00 294.25 Td (Explanations of Non-GAAP) Tj ET Q q 0 0 0 rg BT 142.76 294.25 Td ( Financial Measures) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 228.33 294.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 27 265.68505859375 m 161.814453125 265.68505859375 l s q 0 0 0 rg BT 27.00 267.25 Td (Non-GAAP) Tj ET Q q 0 0 0 rg BT 75.89 267.25 Td ( Financial Measur) Tj ET Q q 0 0 0 rg BT 153.48 267.25 Td (es) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 237.25 Td (W) Tj ET Q q 0 0 0 rg BT 35.64 237.25 Td (e use net cruise revenues per ) Tj ET Q q 0 0 0 rg BT 152.25 237.25 Td (ALBD \(net revenue yields\), net cruise costs excluding fuel per ) Tj ET Q q 0 0 0 rg BT 413.55 237.25 Td (ALBD, adjusted net income and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 225.25 Td (adjusted earnings per share as non-GAAP) Tj ET Q q 0 0 0 rg BT 194.08 225.25 Td ( financial measures of our cruise segments) Tj ET Q q 0 0 0 rg BT 366.61 225.25 Td ( and the company) Tj ET Q q 0 0 0 rg BT 440.20 225.25 Td (s financial performance. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 213.25 Td (These non-GAAP) Tj ET Q q 0 0 0 rg BT 98.56 213.25 Td ( financial measures are provided along with U.S. GAAP) Tj ET Q q 0 0 0 rg BT 323.14 213.25 Td ( gross cruise revenues per ) Tj ET Q q 0 0 0 rg BT 428.38 213.25 Td (ALBD \(gross revenue yields\), ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 201.25 Td (gross cruise costs per ) Tj ET Q q 0 0 0 rg BT 114.21 201.25 Td (ALBD and U.S. GAAP) Tj ET Q q 0 0 0 rg BT 208.01 201.25 Td ( net income and U.S. GAAP) Tj ET Q q 0 0 0 rg BT 321.23 201.25 Td ( earnings per share.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.48 201.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 177.25 Td (Net revenue yields and net cruise costs excluding fuel per ) Tj ET Q q 0 0 0 rg BT 259.70 177.25 Td (ALBD enable us to separate the impact of predictable capacity or ) Tj ET Q q 0 0 0 rg BT 523.21 177.25 Td (ALBD ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 165.25 Td (changes from price and other changes that af) Tj ET Q q 0 0 0 rg BT 205.91 165.25 Td (fect our business. ) Tj ET Q q 0 0 0 rg BT 277.93 165.25 Td (W) Tj ET Q q 0 0 0 rg BT 286.57 165.25 Td (e believe these non-GAAP) Tj ET Q q 0 0 0 rg BT 393.11 165.25 Td ( measures provide useful information to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 153.25 Td (investors and expanded insight to measure our revenue and cost performance as a supplement to our U.S. GAAP) Tj ET Q q 0 0 0 rg BT 477.35 153.25 Td ( consolidated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 141.25 Td (financial statements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 109.19 141.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 117.25 Td (Under U.S. GAAP) Tj ET Q q 0 0 0 rg BT 100.89 117.25 Td (, the realized and unrealized gains and losses on fuel derivatives not qualifying as fuel hedges are recognized ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 105.25 Td (currently in earnings. ) Tj ET Q q 0 0 0 rg BT 114.57 105.25 Td (W) Tj ET Q q 0 0 0 rg BT 123.21 105.25 Td (e believe that unrealized gains and losses on fuel derivatives are not an indication of our earnings ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 93.25 Td (performance since they relate to future periods and may not ultimately be realized in our future earnings. ) Tj ET Q q 0 0 0 rg BT 448.32 93.25 Td (Therefore, we believe it is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 81.25 Td (more meaningful for the unrealized gains and losses on fuel derivatives to be excluded from our net income and earnings per share ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 69.25 Td (and, accordingly) Tj ET Q q 0 0 0 rg BT 92.99 69.25 Td (, we present adjusted net income and adjusted earnings per share excluding these unrealized gains and losses.) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 43 0 obj <>] /Rotate 0 /Contents 44 0 R>> endobj 44 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (21) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 742.10 Td (W) Tj ET Q q 0 0 0 rg BT 35.64 742.10 Td (e believe that gains and losses on ship sales, impairment char) Tj ET Q q 0 0 0 rg BT 280.12 742.10 Td (ges, restructuring and other expenses are not part of our core ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 730.10 Td (operating business and are not an indication of our future earnings performance. ) Tj ET Q q 0 0 0 rg BT 349.76 730.10 Td (Therefore, we believe it is more meaningful for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 718.10 Td (gains and losses on ship sales, impairment char) Tj ET Q q 0 0 0 rg BT 215.67 718.10 Td (ges, and restructuring and other non-core gains and char) Tj ET Q q 0 0 0 rg BT 440.13 718.10 Td (ges to be excluded from our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 706.10 Td (net income and earnings per share and, accordingly) Tj ET Q q 0 0 0 rg BT 231.82 706.10 Td (, we present adjusted net income and adjusted earnings per share excluding these ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 694.10 Td (items.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 670.10 Td (The presentation of our non-GAAP) Tj ET Q q 0 0 0 rg BT 168.26 670.10 Td ( financial information is not intended to be considered in isolation from, as substitute for) Tj ET Q q 0 0 0 rg BT 521.96 670.10 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 658.10 Td (superior to the financial information prepared in accordance with U.S. GAAP) Tj ET Q q 0 0 0 rg BT 336.35 658.10 Td (. It is possible that our non-GAAP) Tj ET Q q 0 0 0 rg BT 472.92 658.10 Td ( financial measures ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 646.10 Td (may not be exactly comparable to the like-kind information presented by other companies, which is a potential risk associated with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 634.10 Td (using these measures to compare us to other companies.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 251.11 634.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 27 608.7669921875 m 101.970703125 608.7669921875 l s q 0 0 0 rg BT 27.00 610.10 Td (Net revenue yields) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 101.97 610.10 Td ( are commonly used in the cruise industry to measure a company) Tj ET Q q 0 0 0 rg BT 364.40 610.10 Td (s cruise segment revenue performance and for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 598.10 Td (revenue management purposes. ) Tj ET Q q 0 0 0 rg BT 155.11 598.10 Td (W) Tj ET Q q 0 0 0 rg BT 163.74 598.10 Td (e use net cruise revenues rather than gross cruise revenues to calculate net revenue yields.) Tj ET Q q 0 0 0 rg BT 542.83 598.10 Td (W) Tj ET Q q 0 0 0 rg BT 551.47 598.10 Td (e ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 586.10 Td (believe that net cruise revenues is a more meaningful measure in determining revenue yield than gross cruise revenues because it ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 574.10 Td (reflects the cruise revenues earned net of our most significant variable costs, which are travel agent commissions, cost of air and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 562.10 Td (other transportation, certain other costs that are directly associated with onboard and other revenues and credit and debit card fees.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.69 562.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 27 536.7669921875 m 146.1162109375 536.7669921875 l s q 0 0 0 rg BT 27.00 538.10 Td (Net passenger ticket revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 146.12 538.10 Td ( reflect gross passenger ticket revenues, net of commissions, transportation and other costs. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.24 538.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 27 512.7669921875 m 154.7294921875 512.7669921875 l s q 0 0 0 rg BT 27.00 514.10 Td (Net onboard and other revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 154.73 514.10 Td ( reflect gross onboard and other revenues, net of onboard and other cruise costs.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.34 514.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 27 488.7669921875 m 194.734375 488.7669921875 l s q 0 0 0 rg BT 27.00 490.10 Td (Net cruise costs excluding fuel per ) Tj ET Q q 0 0 0 rg BT 167.51 490.10 Td (ALBD) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 194.73 490.10 Td ( is the measure we use to monitor our ability to control our cruise segments) Tj ET Q q 0 0 0 rg BT 498.37 490.10 Td ( costs rather ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 478.10 Td (than gross cruise costs per ) Tj ET Q q 0 0 0 rg BT 133.92 478.10 Td (ALBD.) Tj ET Q q 0 0 0 rg BT 165.96 478.10 Td (W) Tj ET Q q 0 0 0 rg BT 174.60 478.10 Td (e exclude the same variable costs that are included in the calculation of net cruise revenues as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 466.10 Td (well as fuel expense to calculate net cruise costs without fuel to avoid duplicating these variable costs in our non-GAAP) Tj ET Q q 0 0 0 rg BT 507.33 466.10 Td ( financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 454.10 Td (measures. Substantially all of our net cruise costs excluding fuel are lar) Tj ET Q q 0 0 0 rg BT 311.73 454.10 Td (gely fixed, except for the impact of changing prices, once the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 442.10 Td (number of ) Tj ET Q q 0 0 0 rg BT 70.33 442.10 Td (ALBDs has been determined.) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 27 416.53505859375 m 170.9501953125 416.53505859375 l s q 0 0 0 rg BT 27.00 418.10 Td (Reconciliation of For) Tj ET Q q 0 0 0 rg BT 116.80 418.10 Td (ecasted Data) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 391.10 Td (W) Tj ET Q q 0 0 0 rg BT 35.64 391.10 Td (e have not provided a reconciliation of forecasted gross cruise revenues to forecasted net cruise revenues or forecasted gross cruise ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 379.10 Td (costs to forecasted net cruise costs without fuel or forecasted U.S. GAAP) Tj ET Q q 0 0 0 rg BT 319.61 379.10 Td ( net income to forecasted adjusted net income or forecasted ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 367.10 Td (U.S. GAAP) Tj ET Q q 0 0 0 rg BT 74.14 367.10 Td ( earnings per share to forecasted adjusted earnings per share because preparation of meaningful U.S. GAAP) Tj ET Q q 0 0 0 rg BT 505.00 367.10 Td ( forecasts of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 355.10 Td (gross cruise revenues, gross cruise costs, net income and earnings per share would require unreasonable ef) Tj ET Q q 0 0 0 rg BT 452.51 355.10 Td (fort. ) Tj ET Q q 0 0 0 rg BT 471.77 355.10 Td (W) Tj ET Q q 0 0 0 rg BT 480.40 355.10 Td (e are unable to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 343.10 Td (predict, without unreasonable ef) Tj ET Q q 0 0 0 rg BT 155.66 343.10 Td (fort, the future movement of foreign exchange rates and fuel prices. ) Tj ET Q q 0 0 0 rg BT 428.43 343.10 Td (While we forecast realized gains ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 331.10 Td (and losses on fuel derivatives by applying current Brent prices to the derivatives that settle in the forecast period, we do not forecast ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 319.10 Td (the impact of unrealized gains and losses on fuel derivatives because we do not believe they are an indication of our future earnings ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 307.10 Td (performance. ) Tj ET Q q 0 0 0 rg BT 82.34 307.10 Td (W) Tj ET Q q 0 0 0 rg BT 90.98 307.10 Td (e are unable to determine the future impact of gains or losses on ships sales, restructuring expenses and other non-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 295.10 Td (core gains and char) Tj ET Q q 0 0 0 rg BT 104.28 295.10 Td (ges.) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 27 271.53505859375 m 198.8701171875 271.53505859375 l s q 0 0 0 rg BT 27.00 273.10 Td (Constant Dollar) Tj ET Q q 0 0 0 rg BT 95.43 273.10 Td ( and Constant Curr) Tj ET Q q 0 0 0 rg BT 179.43 273.10 Td (ency) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 246.10 Td (Our operations primarily utilize the U.S. dollar) Tj ET Q q 0 0 0 rg BT 214.33 246.10 Td (, ) Tj ET Q q 0 0 0 rg BT 218.78 246.10 Td (Australian dollar) Tj ET Q q 0 0 0 rg BT 285.86 246.10 Td (, euro and sterling as functional currencies to measure results and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 234.10 Td (financial condition. Functional currencies other than the U.S. dollar subject us to foreign currency translational risk. Our operations ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 222.10 Td (also have revenues and expenses that are in currencies other than their functional currency) Tj ET Q q 0 0 0 rg BT 387.58 222.10 Td (, which subject us to foreign currency ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 210.10 Td (transactional risk.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 98.09 210.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 186.10 Td (W) Tj ET Q q 0 0 0 rg BT 35.64 186.10 Td (e report net revenue yields, net passenger revenue yields, net onboard and other revenue yields and net cruise costs excluding fuel ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 174.10 Td (per ) Tj ET Q q 0 0 0 rg BT 41.72 174.10 Td (ALBD on a constant dollar and constant currency basis assuming the 2018 periods) Tj ET Q q 0 0 0 rg BT 392.54 174.10 Td ( currency exchange rates have remained ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 162.10 Td (constant with the 2017 periods) Tj ET Q q 0 0 0 rg BT 152.35 162.10 Td ( rates. ) Tj ET Q q 0 0 0 rg BT 178.54 162.10 Td (These metrics facilitate a comparative view for the changes in our business in an environment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 150.10 Td (with fluctuating exchange rates.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 154.73 150.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 138.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 27 124.76699218750002 m 88.3818359375 124.76699218750002 l s q 0 0 0 rg BT 27.00 126.10 Td (Constant dollar) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 88.38 126.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 90.88 126.10 Td (reporting removes only the impact of changes in exchange rates on the translation of our operations.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 114.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 27 100.76699218750002 m 100.0322265625 100.76699218750002 l s q 0 0 0 rg BT 27.00 102.10 Td (Constant currency) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 100.03 102.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 102.53 102.10 Td (reporting removes the impact of changes in exchange rates on the translation of our operations \(as in constant ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 90.10 Td (dollar\) plus the transactional impact of changes in exchange rates from revenues and expenses that are denominated in a currency ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 78.10 Td (other than the functional currency) Tj ET Q q 0 0 0 rg BT 161.85 78.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 166.85 78.10 Td ( ) Tj ET Q endstream endobj 45 0 obj <>] /Rotate 0 /Contents 46 0 R>> endobj 46 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (22) Tj ET Q BT /F4 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 27 740.7669921875 m 69.20703125 740.7669921875 l s q 0 0 0 rg BT 27.00 742.10 Td (Examples:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 718.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 718.10 Td (The translation of our operations with functional currencies other than U.S. dollar to our U.S. dollar reporting currency ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 706.10 Td (results in decreases in reported U.S. dollar revenues and expenses if the U.S. dollar strengthens against these foreign ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 694.10 Td (currencies and increases in reported U.S. dollar revenues and expenses if the U.S. dollar weakens against these foreign ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 682.10 Td (currencies.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 106.58 682.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 658.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 658.10 Td (Our operations have revenue and expense transactions in currencies other than their functional currency) Tj ET Q q 0 0 0 rg BT 477.46 658.10 Td (. If their functional ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 646.10 Td (currency strengthens against these other currencies, it reduces the functional currency revenues and expenses. If the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 634.10 Td (functional currency weakens against these other currencies, it increases the functional currency revenues and expenses.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.46 634.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 616.10 Td (Consolidated gross and net revenue yields were computed by dividing the gross and net cruise revenues by ) Tj ET Q q 0 0 0 rg BT 456.62 616.10 Td (ALBDs as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 26.50 561.60 311.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 337.50 561.60 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 561.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 561.60 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 561.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.50 561.60 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 26.50 533.60 311.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 337.50 533.60 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 533.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 533.60 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 533.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.50 533.60 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 26.50 505.60 311.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 337.50 505.60 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 505.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 505.60 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 505.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.50 505.60 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 26.50 477.60 311.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 337.50 477.60 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 477.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 477.60 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 477.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.50 477.60 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 26.50 449.60 311.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 337.50 449.60 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 449.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 449.60 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 449.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.50 449.60 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 26.50 421.60 311.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 337.50 421.60 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 421.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 421.60 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 421.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.50 421.60 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 26.50 388.60 311.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 337.50 388.60 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 388.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 388.60 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 388.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.50 388.60 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 26.50 360.60 311.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 337.50 360.60 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 360.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 360.60 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 360.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.50 360.60 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 26.50 332.60 311.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 337.50 332.60 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 332.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 332.60 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 332.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.50 332.60 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 26.50 304.60 311.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 337.50 304.60 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 304.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 304.60 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 304.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.50 304.60 72.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 337.5 593.6 m 409.5 593.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 593.6 m 413.5 593.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413.5 593.6 m 485.5 593.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485.5 593.6 m 489.5 593.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 593.6 m 561.5 593.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 337.5 561.6 m 409.5 561.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413.5 561.6 m 485.5 561.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 561.6 m 561.5 561.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 337.5 533.6 m 409.5 533.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 337.5 519.6 m 409.5 519.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413.5 533.6 m 485.5 533.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413.5 519.6 m 485.5 519.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 533.6 m 561.5 533.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 519.6 m 561.5 519.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 337.5 477.6 m 409.5 477.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 337.5 463.6 m 409.5 463.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413.5 477.6 m 485.5 477.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413.5 463.6 m 485.5 463.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 477.6 m 561.5 477.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 463.6 m 561.5 463.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 337.5 435.6 m 409.5 435.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 337.5 422.6 m 409.5 422.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 337.5 420.6 m 409.5 420.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413.5 435.6 m 485.5 435.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413.5 422.6 m 485.5 422.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413.5 420.6 m 485.5 420.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 435.6 m 561.5 435.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 422.6 m 561.5 422.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 420.6 m 561.5 420.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 337.5 408.6 m 409.5 408.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 337.5 406.6 m 409.5 406.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413.5 408.6 m 485.5 408.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413.5 406.6 m 485.5 406.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 408.6 m 561.5 408.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 406.6 m 561.5 406.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 337.5 406.6 m 409.5 406.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 337.5 408.6 m 409.5 408.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413.5 406.6 m 485.5 406.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413.5 408.6 m 485.5 408.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 406.6 m 561.5 406.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 408.6 m 561.5 408.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 26.5 403.6 m 26.5 388.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 26.5 403.6 m 337.5 403.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 337.5 403.6 m 409.5 403.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 403.6 m 413.5 403.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413.5 403.6 m 485.5 403.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485.5 403.6 m 489.5 403.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 561.5 403.6 m 561.5 388.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 403.6 m 561.5 403.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 26.5 388.6 m 26.5 374.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 561.5 388.6 m 561.5 374.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 26.5 374.6 m 26.5 360.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 561.5 374.6 m 561.5 360.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 26.5 360.6 m 26.5 346.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 561.5 360.6 m 561.5 346.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 26.5 346.6 m 26.5 332.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 561.5 346.6 m 561.5 332.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 26.5 332.6 m 26.5 318.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 561.5 332.6 m 561.5 318.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 26.5 318.6 m 26.5 304.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 561.5 318.6 m 561.5 304.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 26.5 304.6 m 26.5 290.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 26.5 290.6 m 337.5 290.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 337.5 290.6 m 409.5 290.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 290.6 m 413.5 290.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413.5 290.6 m 485.5 290.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485.5 290.6 m 489.5 290.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 561.5 304.6 m 561.5 290.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 290.6 m 561.5 290.6 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 374.50 596.33 Td (Thr) Tj ET Q q 0 0 0 rg BT 391.08 596.33 Td (ee Months Ended February 28,) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 29.00 566.31 Td (\(dollars in millions, except yields\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 363.00 566.28 Td (2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 439.00 584.33 Td (2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 429.55 574.33 Td (Constant) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 435.45 564.33 Td (Dollar) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 515.00 566.28 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 29.00 552.17 Td (Passenger ticket revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.00 552.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 378.15 552.17 Td (3,148) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.00 552.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.15 552.17 Td (2,999) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.00 552.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 552.17 Td (2,804) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 29.00 538.17 Td (Onboard and other revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 378.15 538.17 Td (1,071) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.15 538.17 Td (1,038) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 537.65 538.17 Td (978) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 29.00 524.28 Td (Gr) Tj ET Q q 0 0 0 rg BT 41.13 524.28 Td (oss cruise r) Tj ET Q q 0 0 0 rg BT 88.71 524.28 Td (evenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 378.15 524.17 Td (4,219) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.15 524.17 Td (4,037) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 524.17 Td (3,782) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 29.00 510.17 Td (Less cruise costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 29.00 496.17 Td (Commissions, transportation and other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.30 496.22 Td (\(663) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.65 496.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.30 496.22 Td (\(621) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.65 496.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.30 496.17 Td (\(569) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 496.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 29.00 482.17 Td (Onboard and other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.30 482.22 Td (\(140) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.65 482.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.30 482.22 Td (\(135) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.65 482.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.30 482.17 Td (\(125) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 482.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.30 468.22 Td (\(803) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.65 468.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.30 468.22 Td (\(756) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.65 468.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.30 468.17 Td (\(694) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 468.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 29.00 454.17 Td (Net passenger ticket revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 378.15 454.17 Td (2,485) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.15 454.17 Td (2,378) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 454.17 Td (2,235) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 29.00 440.17 Td (Net onboard and other revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.65 440.17 Td (931) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.65 440.17 Td (903) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 537.65 440.17 Td (853) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 29.00 426.28 Td (Net cruise r) Tj ET Q q 0 0 0 rg BT 78.89 426.28 Td (evenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.00 426.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 378.15 426.17 Td (3,416) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.00 426.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.15 426.17 Td (3,280) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.00 426.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 426.17 Td (3,088) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 29.00 412.28 Td (ALBDs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 355.65 412.17 Td (20,461,582) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.65 412.17 Td (20,461,582) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.65 412.17 Td (20,024,045) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 29.00 393.28 Td (Gr) Tj ET Q q 0 0 0 rg BT 41.04 393.28 Td (oss r) Tj ET Q q 0 0 0 rg BT 60.58 393.28 Td (evenue yields) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.00 393.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.15 393.27 Td (206.20) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.00 393.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.15 393.27 Td (197.29) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.00 393.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 393.27 Td (188.87) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 29.00 379.17 Td (% increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.15 379.17 Td (9.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.65 379.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.15 379.17 Td (4.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.65 379.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 29.00 365.28 Td ( Net r) Tj ET Q q 0 0 0 rg BT 53.25 365.28 Td (evenue yields) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.00 365.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.15 365.17 Td (166.95) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.00 365.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.15 365.17 Td (160.32) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.00 365.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 365.17 Td (154.22) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 29.00 351.17 Td ( % increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.15 351.17 Td (8.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.65 351.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.15 351.17 Td (4.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.65 351.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 41.00 337.28 Td (Net passenger) Tj ET Q q 0 0 0 rg BT 100.53 337.28 Td ( ticket r) Tj ET Q q 0 0 0 rg BT 133.67 337.28 Td (evenue yields) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.00 337.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.15 337.17 Td (121.46) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.00 337.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.15 337.17 Td (1) Tj ET Q q 0 0 0 rg BT 454.15 337.17 Td (16.21) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.00 337.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 337.17 Td (1) Tj ET Q q 0 0 0 rg BT 530.15 337.17 Td (1) Tj ET Q q 0 0 0 rg BT 535.15 337.17 Td (1.60) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 29.00 323.17 Td ( % increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.15 323.17 Td (8.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.65 323.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.15 323.17 Td (4.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.65 323.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 41.00 309.28 Td (Net onboard and other) Tj ET Q q 0 0 0 rg BT 138.32 309.28 Td ( r) Tj ET Q q 0 0 0 rg BT 145.08 309.28 Td (evenue yields) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.00 309.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 378.15 309.17 Td (45.50) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.00 309.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.15 309.17 Td (44.1) Tj ET Q q 0 0 0 rg BT 471.65 309.17 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.00 309.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 309.17 Td (42.62) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 29.00 295.17 Td ( % increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.15 295.17 Td (6.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.65 295.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.15 295.17 Td (3.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.65 295.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 26.50 218.60 311.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 337.50 218.60 72.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 218.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 218.60 72.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 218.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.50 218.60 72.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 26.50 188.60 311.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 337.50 188.60 72.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 188.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 188.60 72.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 188.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.50 188.60 72.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 26.50 158.60 311.00 -4.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 337.50 158.60 72.00 -4.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 158.60 4.00 -4.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 158.60 72.00 -4.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 158.60 4.00 -4.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.50 158.60 72.00 -4.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 26.50 154.60 311.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 337.50 154.60 72.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 154.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 154.60 72.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 154.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.50 154.60 72.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 26.50 124.60 311.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 337.50 124.60 72.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 124.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 124.60 72.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 124.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.50 124.60 72.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 26.50 94.60 311.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 337.50 94.60 72.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 94.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 94.60 72.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 94.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.50 94.60 72.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 337.5 250.60000000000002 m 409.5 250.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 250.60000000000002 m 413.5 250.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413.5 250.60000000000002 m 485.5 250.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485.5 250.60000000000002 m 489.5 250.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 250.60000000000002 m 561.5 250.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 337.5 250.60000000000002 m 409.5 250.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 337.5 218.60000000000002 m 409.5 218.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413.5 250.60000000000002 m 485.5 250.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413.5 218.60000000000002 m 485.5 218.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 250.60000000000002 m 561.5 250.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 218.60000000000002 m 561.5 218.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 337.5 218.60000000000002 m 409.5 218.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413.5 188.60000000000002 m 485.5 188.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 337.5 188.60000000000002 m 409.5 188.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 337.5 174.60000000000002 m 409.5 174.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 337.5 172.60000000000002 m 409.5 172.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413.5 188.60000000000002 m 485.5 188.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413.5 174.60000000000002 m 485.5 174.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413.5 172.60000000000002 m 485.5 172.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 188.60000000000002 m 561.5 188.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 174.60000000000002 m 561.5 174.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 172.60000000000002 m 561.5 172.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 337.5 172.60000000000002 m 409.5 172.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 337.5 174.60000000000002 m 409.5 174.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 337.5 159.60000000000002 m 409.5 159.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 337.5 157.60000000000002 m 409.5 157.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413.5 172.60000000000002 m 485.5 172.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413.5 174.60000000000002 m 485.5 174.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413.5 159.60000000000002 m 485.5 159.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413.5 157.60000000000002 m 485.5 157.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 159.60000000000002 m 561.5 159.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 157.60000000000002 m 561.5 157.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 26.5 154.60000000000002 m 26.5 139.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 26.5 154.60000000000002 m 337.5 154.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 337.5 154.60000000000002 m 409.5 154.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 154.60000000000002 m 413.5 154.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413.5 154.60000000000002 m 485.5 154.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485.5 154.60000000000002 m 489.5 154.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 561.5 154.60000000000002 m 561.5 139.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 154.60000000000002 m 561.5 154.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 26.5 139.60000000000002 m 26.5 124.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 561.5 139.60000000000002 m 561.5 124.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 26.5 124.60000000000002 m 26.5 109.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 561.5 124.60000000000002 m 561.5 109.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 26.5 109.60000000000002 m 26.5 94.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 561.5 109.60000000000002 m 561.5 94.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 26.5 94.60000000000002 m 26.5 79.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 561.5 94.60000000000002 m 561.5 79.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 26.5 79.60000000000002 m 26.5 64.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 26.5 64.60000000000002 m 337.5 64.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 337.5 64.60000000000002 m 409.5 64.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 64.60000000000002 m 413.5 64.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413.5 64.60000000000002 m 485.5 64.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485.5 64.60000000000002 m 489.5 64.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 561.5 79.60000000000002 m 561.5 64.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 64.60000000000002 m 561.5 64.60000000000002 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 374.50 253.33 Td (Thr) Tj ET Q q 0 0 0 rg BT 391.08 253.33 Td (ee Months Ended February 28,) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 29.00 223.31 Td (\(dollars in millions, except yields\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 363.00 223.28 Td (2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 439.00 241.33 Td (2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 429.55 231.33 Td (Constant) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 428.50 221.33 Td (Curr) Tj ET Q q 0 0 0 rg BT 449.98 221.33 Td (ency) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 515.00 223.28 Td (2017) Tj ET Q BT /F1 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 29.00 215.20 119.12 -9.09 re f /GS0 gs q 0 0 0 rg BT 29.00 208.27 Td (Net passenger ticket revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.00 208.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 378.15 208.27 Td (2,485) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.00 208.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.15 208.27 Td (2,374) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.00 208.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 208.27 Td (2,235) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 29.00 193.27 Td (Net onboard and other revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.65 193.27 Td (931) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.65 193.27 Td (906) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 193.27 Td (853) Tj ET Q BT /F2 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 29.00 185.05 83.13 -8.93 re f /GS0 gs q 0 0 0 rg BT 29.00 178.28 Td (Net cruise r) Tj ET Q q 0 0 0 rg BT 78.79 178.28 Td (evenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.00 178.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 378.15 178.27 Td (3,416) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.00 178.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.15 178.27 Td (3,280) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.00 178.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 178.27 Td (3,088) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 29.00 163.28 Td (ALBDs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 355.65 163.27 Td (20,461,582) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.65 163.27 Td (20,461,582) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.65 163.27 Td (20,024,045) Tj ET Q BT /F2 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 29.00 151.05 80.63 -8.93 re f /GS0 gs q 0 0 0 rg BT 29.00 144.28 Td ( Net r) Tj ET Q q 0 0 0 rg BT 53.25 144.28 Td (evenue yields) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.00 144.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.15 144.27 Td (166.95) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.00 144.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.15 144.27 Td (160.31) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.00 144.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 144.27 Td (154.22) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 29.00 129.27 Td ( % increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.15 129.27 Td (8.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.65 129.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.15 129.27 Td (3.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.65 129.27 Td (%) Tj ET Q BT /F2 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 41.00 121.05 149.05 -8.93 re f /GS0 gs q 0 0 0 rg BT 41.00 114.28 Td (Net passenger) Tj ET Q q 0 0 0 rg BT 100.53 114.28 Td ( ticket r) Tj ET Q q 0 0 0 rg BT 133.67 114.28 Td (evenue yields) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.00 114.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.15 114.27 Td (121.46) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.00 114.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.15 114.27 Td (1) Tj ET Q q 0 0 0 rg BT 454.15 114.27 Td (16.04) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.00 114.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 114.27 Td (1) Tj ET Q q 0 0 0 rg BT 535.15 114.27 Td (1) Tj ET Q q 0 0 0 rg BT 540.15 114.27 Td (1.60) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 41.00 99.27 Td (% increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.15 99.27 Td (8.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.65 99.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.15 99.27 Td (4.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.65 99.27 Td (%) Tj ET Q BT /F2 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 41.00 91.05 160.47 -8.93 re f /GS0 gs q 0 0 0 rg BT 41.00 84.28 Td (Net onboard and other) Tj ET Q q 0 0 0 rg BT 138.32 84.28 Td ( r) Tj ET Q q 0 0 0 rg BT 145.08 84.28 Td (evenue yields) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.00 84.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 378.15 84.27 Td (45.50) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.00 84.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.15 84.27 Td (44.27) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.00 84.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 84.27 Td (42.62) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 41.00 69.27 Td (% increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.15 69.27 Td (6.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.65 69.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.15 69.27 Td (3.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.65 69.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 47 0 obj <>] /Rotate 0 /Contents 48 0 R>> endobj 48 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (23) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 742.10 Td (Consolidated gross and net cruise costs and net cruise costs excluding fuel per ) Tj ET Q q 0 0 0 rg BT 341.65 742.10 Td (ALBD were computed by dividing the gross and net ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 730.10 Td (cruise costs and net cruise costs excluding fuel by ) Tj ET Q q 0 0 0 rg BT 228.34 730.10 Td (ALBDs as follows: ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 26.50 669.60 311.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 337.50 669.60 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 669.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 669.60 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 669.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.50 669.60 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 26.50 641.60 311.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 337.50 641.60 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 641.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 641.60 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 641.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.50 641.60 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 26.50 613.60 311.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 337.50 613.60 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 613.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 613.60 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 613.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.50 613.60 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 26.50 585.60 311.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 337.50 585.60 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 585.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 585.60 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 585.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.50 585.60 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 26.50 556.60 311.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 337.50 556.60 72.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 556.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 556.60 72.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 556.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.50 556.60 72.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 26.50 526.60 311.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 337.50 526.60 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 526.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 526.60 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 526.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.50 526.60 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 26.50 497.60 311.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 337.50 497.60 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 497.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 497.60 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 497.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.50 497.60 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 26.50 462.60 311.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 337.50 462.60 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 462.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 462.60 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 462.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.50 462.60 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 26.50 434.60 311.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 337.50 434.60 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 434.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 434.60 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 434.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.50 434.60 72.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 337.5 705.6 m 409.5 705.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 705.6 m 413.5 705.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413.5 705.6 m 485.5 705.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485.5 705.6 m 489.5 705.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 705.6 m 561.5 705.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 337.5 669.6 m 409.5 669.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413.5 669.6 m 485.5 669.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 669.6 m 561.5 669.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 337.5 641.6 m 409.5 641.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 337.5 641.6 m 409.5 641.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413.5 641.6 m 485.5 641.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 641.6 m 561.5 641.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 337.5 541.6 m 409.5 541.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413.5 541.6 m 485.5 541.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 541.6 m 561.5 541.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 337.5 541.6 m 409.5 541.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 337.5 526.6 m 409.5 526.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413.5 541.6 m 485.5 541.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413.5 526.6 m 485.5 526.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 541.6 m 561.5 541.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 526.6 m 561.5 526.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 337.5 526.6 m 409.5 526.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 337.5 512.6 m 409.5 512.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413.5 526.6 m 485.5 526.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413.5 512.6 m 485.5 512.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 337.5 512.6 m 409.5 512.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 337.5 498.6 m 409.5 498.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 337.5 496.6 m 409.5 496.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413.5 512.6 m 485.5 512.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413.5 498.6 m 485.5 498.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413.5 496.6 m 485.5 496.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 512.6 m 561.5 512.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 498.6 m 561.5 498.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 496.6 m 561.5 496.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 337.5 496.6 m 409.5 496.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 337.5 498.6 m 409.5 498.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 337.5 484.6 m 409.5 484.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 337.5 482.6 m 409.5 482.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413.5 496.6 m 485.5 496.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413.5 498.6 m 485.5 498.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413.5 484.6 m 485.5 484.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413.5 482.6 m 485.5 482.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 484.6 m 561.5 484.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 482.6 m 561.5 482.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 26.5 476.6 m 26.5 462.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 26.5 476.6 m 337.5 476.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 337.5 476.6 m 409.5 476.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 476.6 m 413.5 476.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413.5 476.6 m 485.5 476.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485.5 476.6 m 489.5 476.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 561.5 476.6 m 561.5 462.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 476.6 m 561.5 476.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 26.5 462.6 m 26.5 448.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 561.5 462.6 m 561.5 448.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 26.5 448.6 m 26.5 434.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 561.5 448.6 m 561.5 434.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 26.5 434.6 m 26.5 420.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 26.5 420.6 m 337.5 420.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 337.5 420.6 m 409.5 420.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 420.6 m 413.5 420.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413.5 420.6 m 485.5 420.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485.5 420.6 m 489.5 420.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 561.5 434.6 m 561.5 420.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 420.6 m 561.5 420.6 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 374.50 710.28 Td (Thr) Tj ET Q q 0 0 0 rg BT 391.08 710.28 Td (ee Months Ended February 28,) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 29.00 674.31 Td (\(dollars in millions, except costs per ) Tj ET Q q 0 0 0 rg BT 176.86 674.31 Td (ALBD\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 363.00 674.28 Td (2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 439.00 694.28 Td (2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 429.55 684.28 Td (Constant) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 435.45 674.28 Td (Dollar) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 515.00 674.28 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 29.00 660.17 Td (Cruise operating expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.00 660.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 378.15 660.17 Td (2,695) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.00 660.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.15 660.17 Td (2,587) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.00 660.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 660.17 Td (2,422) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 29.00 646.17 Td (Cruise selling and administrative expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.65 646.17 Td (610) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.65 646.17 Td (587) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 537.65 646.17 Td (546) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 29.00 632.28 Td (Gr) Tj ET Q q 0 0 0 rg BT 41.13 632.28 Td (oss cruise costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 378.15 632.17 Td (3,305) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.15 632.17 Td (3,175) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 632.17 Td (2,968) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 29.00 618.17 Td (Less cruise costs included above) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 41.00 604.17 Td (Commissions, transportation and other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.30 604.22 Td (\(663) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.65 604.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.30 604.22 Td (\(621) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.65 604.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.30 604.17 Td (\(569) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 604.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 29.00 590.17 Td ( Onboard and other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.30 590.22 Td (\(140) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.65 590.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.30 590.22 Td (\(135) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.65 590.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.30 590.17 Td (\(125) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 590.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 29.00 583.10 193.03 -9.09 re f /GS0 gs q 0 0 0 rg BT 29.00 576.17 Td ( \(Losses\) gains on ship sales and impairments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.30 576.22 Td (\(16) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.65 576.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.30 576.22 Td (\(16) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.65 576.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 576.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 29.00 561.27 Td ( Restructuring expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.65 561.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 561.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 561.27 Td () Tj ET Q BT /F1 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 29.00 553.20 35.27 -9.09 re f /GS0 gs q 0 0 0 rg BT 29.00 546.27 Td ( Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.65 546.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 546.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 546.27 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 29.00 531.28 Td (Net cruise costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 378.15 531.27 Td (2,485) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.15 531.27 Td (2,402) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 531.27 Td (2,275) Tj ET Q BT /F1 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 29.00 524.10 36.38 -9.09 re f /GS0 gs q 0 0 0 rg BT 29.00 517.17 Td (Less fuel) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.30 517.22 Td (\(359) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.65 517.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.30 517.22 Td (\(359) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.65 517.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.30 517.17 Td (\(297) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 517.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 29.00 502.28 Td (Net cruise costs excluding fuel) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.00 502.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 378.15 502.27 Td (2,127) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.00 502.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.15 502.27 Td (2,044) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.00 502.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 502.27 Td (1,978) Tj ET Q BT /F2 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 29.00 495.05 31.67 -8.93 re f /GS0 gs q 0 0 0 rg BT 29.00 488.28 Td (ALBDs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 355.65 488.17 Td (20,461,582) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.65 488.17 Td (20,461,582) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.65 488.17 Td (20,024,045) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 29.00 467.28 Td (Gr) Tj ET Q q 0 0 0 rg BT 41.04 467.28 Td (oss cruise costs per) Tj ET Q q 0 0 0 rg BT 121.68 467.28 Td ( ) Tj ET Q q 0 0 0 rg BT 123.62 467.28 Td (ALBD) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.00 467.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.15 467.17 Td (161.51) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.00 467.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.15 467.17 Td (155.16) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.00 467.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 467.17 Td (148.24) Tj ET Q BT /F1 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 29.00 460.10 43.58 -9.09 re f /GS0 gs q 0 0 0 rg BT 29.00 453.17 Td (% increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.15 453.17 Td (9.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.65 453.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.15 453.17 Td (4.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.65 453.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 29.00 439.28 Td (Net cruise costs excluding fuel per) Tj ET Q q 0 0 0 rg BT 174.07 439.28 Td ( ) Tj ET Q q 0 0 0 rg BT 176.02 439.28 Td (ALBD) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.00 439.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.15 439.17 Td (103.92) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.00 439.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.15 439.17 Td (99.84) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.00 439.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 439.17 Td (98.81) Tj ET Q BT /F1 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 29.00 432.10 43.58 -9.09 re f /GS0 gs q 0 0 0 rg BT 29.00 425.17 Td (% increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.15 425.17 Td (5.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.65 425.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.15 425.17 Td (1.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.65 425.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 28.50 349.60 307.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 335.50 349.60 72.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 407.50 349.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.50 349.60 72.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 349.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 349.60 72.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 28.50 315.60 307.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 335.50 315.60 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 407.50 315.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.50 315.60 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 315.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 315.60 72.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 335.5 384.6 m 407.5 384.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407.5 384.6 m 411.5 384.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 411.5 384.6 m 483.5 384.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 384.6 m 487.5 384.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 384.6 m 559.5 384.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 335.5 349.6 m 407.5 349.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 411.5 349.6 m 483.5 349.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 349.6 m 559.5 349.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 335.5 335.6 m 407.5 335.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 335.5 333.6 m 407.5 333.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 411.5 335.6 m 483.5 335.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 411.5 333.6 m 483.5 333.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 335.6 m 559.5 335.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 333.6 m 559.5 333.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 335.5 320.6 m 407.5 320.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 335.5 318.6 m 407.5 318.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 411.5 320.6 m 483.5 320.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 411.5 318.6 m 483.5 318.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 320.6 m 559.5 320.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 318.6 m 559.5 318.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 28.5 315.6 m 28.5 301.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 28.5 315.6 m 335.5 315.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 335.5 315.6 m 407.5 315.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407.5 315.6 m 411.5 315.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 411.5 315.6 m 483.5 315.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 315.6 m 487.5 315.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 559.5 315.6 m 559.5 301.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 315.6 m 559.5 315.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 28.5 301.6 m 28.5 287.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 28.5 287.6 m 335.5 287.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 335.5 287.6 m 407.5 287.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407.5 287.6 m 411.5 287.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 411.5 287.6 m 483.5 287.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 287.6 m 487.5 287.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 559.5 301.6 m 559.5 287.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 287.6 m 559.5 287.6 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 372.50 389.28 Td (Thr) Tj ET Q q 0 0 0 rg BT 389.08 389.28 Td (ee Months Ended February 28,) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.00 354.31 Td (\(dollars in millions, except costs per ) Tj ET Q q 0 0 0 rg BT 178.86 354.31 Td (ALBD\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 361.00 354.28 Td (2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 437.00 374.28 Td (2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 427.55 364.28 Td (Constant) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 426.50 354.28 Td (Curr) Tj ET Q q 0 0 0 rg BT 447.98 354.28 Td (ency) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 513.00 354.28 Td (2017) Tj ET Q BT /F2 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 31.00 346.05 128.32 -8.93 re f /GS0 gs q 0 0 0 rg BT 31.00 339.28 Td (Net cruise costs excluding fuel) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.00 339.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.15 339.27 Td (2,127) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.00 339.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 339.27 Td (2,042) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.00 339.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.15 339.27 Td (1,978) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.00 324.28 Td (ALBDs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.65 324.27 Td (20,461,582) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.65 324.27 Td (20,461,582) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 324.27 Td (20,024,045) Tj ET Q BT /F2 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 31.00 313.05 174.80 -8.93 re f /GS0 gs q 0 0 0 rg BT 31.00 306.28 Td (Net cruise costs excluding fuel per) Tj ET Q q 0 0 0 rg BT 176.07 306.28 Td ( ) Tj ET Q q 0 0 0 rg BT 178.02 306.28 Td (ALBD) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.00 306.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.15 306.17 Td (103.92) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.00 306.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 306.17 Td (99.81) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.00 306.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.15 306.17 Td (98.81) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 31.00 292.17 Td (% increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.15 292.17 Td (5.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.65 292.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.15 292.17 Td (1.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.65 292.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 49 0 obj <>] /Rotate 0 /Contents 50 0 R>> endobj 50 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (24) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 742.10 Td (Adjusted fully diluted earnings per share was computed as follows: ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 26.50 689.60 419.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 445.50 689.60 56.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 689.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.50 689.60 56.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 26.50 662.60 419.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 445.50 662.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 662.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.50 662.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 26.50 634.60 419.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 445.50 634.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 634.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.50 634.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 26.50 606.60 419.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 445.50 606.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 606.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.50 606.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 26.50 574.60 419.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 445.50 574.60 56.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 574.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.50 574.60 56.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 26.50 547.60 419.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 445.50 547.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 547.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.50 547.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 26.50 519.60 419.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 445.50 519.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 519.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.50 519.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 26.50 491.60 419.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 445.50 491.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 491.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.50 491.60 56.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445.5 702.6 m 501.5 702.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501.5 702.6 m 505.5 702.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 702.6 m 561.5 702.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445.5 689.6 m 501.5 689.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 702.6 m 561.5 702.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 689.6 m 561.5 689.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445.5 606.6 m 501.5 606.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 606.6 m 561.5 606.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445.5 593.6 m 501.5 593.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445.5 591.6 m 501.5 591.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 593.6 m 561.5 593.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 591.6 m 561.5 591.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445.5 579.6 m 501.5 579.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445.5 577.6 m 501.5 577.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 579.6 m 561.5 579.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 577.6 m 561.5 577.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 26.5 574.6 m 26.5 561.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 26.5 574.6 m 445.5 574.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445.5 574.6 m 501.5 574.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501.5 574.6 m 505.5 574.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 561.5 574.6 m 561.5 561.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 574.6 m 561.5 574.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 26.5 561.6 m 26.5 547.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 561.5 561.6 m 561.5 547.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 26.5 547.6 m 26.5 533.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 561.5 547.6 m 561.5 533.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 26.5 533.6 m 26.5 519.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 561.5 533.6 m 561.5 519.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 26.5 519.6 m 26.5 505.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 561.5 519.6 m 561.5 505.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 26.5 505.6 m 26.5 491.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 561.5 505.6 m 561.5 491.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 26.5 491.6 m 26.5 477.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 561.5 491.6 m 561.5 477.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 26.5 477.6 m 26.5 473.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 26.5 473.6 m 445.5 473.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445.5 473.6 m 501.5 473.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501.5 473.6 m 505.5 473.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 561.5 477.6 m 561.5 473.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 473.6 m 561.5 473.6 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 457.50 719.33 Td (Thr) Tj ET Q q 0 0 0 rg BT 474.08 719.33 Td (ee Months Ended) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 475.20 706.33 Td (February 28,) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 29.00 693.16 Td (\(in millions, except per shar) Tj ET Q q 0 0 0 rg BT 141.11 693.16 Td (e data\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 463.00 693.33 Td (2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 523.00 693.33 Td (2017) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 29.00 680.33 Td (Net income) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 29.00 667.28 Td ( U.S. GAAP) Tj ET Q q 0 0 0 rg BT 89.56 667.28 Td ( net income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.00 667.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.65 667.17 Td (391) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 508.00 667.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 667.17 Td (352) Tj ET Q BT /F1 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 29.00 660.10 207.16 -9.09 re f /GS0 gs q 0 0 0 rg BT 29.00 653.17 Td ( Unrealized \(gains\) losses on fuel derivatives, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.30 653.22 Td (\(32) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.65 653.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.30 653.17 Td (\(72) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 653.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 29.00 639.17 Td ( \(Gains\) losses on ship sales and impairments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.65 639.17 Td (16) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 639.17 Td () Tj ET Q BT /F1 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 29.00 632.10 105.53 -9.09 re f /GS0 gs q 0 0 0 rg BT 29.00 625.17 Td ( Restructuring expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.65 625.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 625.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 29.00 611.17 Td ( Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.65 611.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.30 611.17 Td (\(1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 611.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 29.00 604.05 99.72 -8.93 re f /GS0 gs q 0 0 0 rg BT 29.00 597.28 Td ( ) Tj ET Q q 0 0 0 rg BT 40.95 597.28 Td (Adjusted net income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.00 597.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.65 597.17 Td (375) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 508.00 597.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 597.17 Td (279) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 29.00 583.28 Td (W) Tj ET Q q 0 0 0 rg BT 38.45 583.28 Td (eighted-average shar) Tj ET Q q 0 0 0 rg BT 127.41 583.28 Td (es outstanding ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.65 583.17 Td (719) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 583.17 Td (728) Tj ET Q BT /F2 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 29.00 572.10 83.81 -8.93 re f /GS0 gs q 0 0 0 rg BT 29.00 565.33 Td (Earnings per) Tj ET Q q 0 0 0 rg BT 84.66 565.33 Td ( shar) Tj ET Q q 0 0 0 rg BT 105.87 565.33 Td (e ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 29.00 552.28 Td ( U.S. GAAP) Tj ET Q q 0 0 0 rg BT 89.56 552.28 Td ( earnings per) Tj ET Q q 0 0 0 rg BT 145.49 552.28 Td ( shar) Tj ET Q q 0 0 0 rg BT 166.70 552.28 Td (e) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.00 552.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.15 552.17 Td (0.54) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 508.00 552.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 552.17 Td (0.48) Tj ET Q BT /F1 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 29.00 545.10 207.16 -9.09 re f /GS0 gs q 0 0 0 rg BT 29.00 538.17 Td ( Unrealized \(gains\) losses on fuel derivatives, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.80 538.22 Td (\(0.05) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.65 538.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.80 538.17 Td (\(0.10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 538.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 29.00 524.17 Td ( \(Gains\) losses on ship sales and impairments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.15 524.17 Td (0.02) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 524.17 Td () Tj ET Q BT /F1 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 29.00 517.10 105.53 -9.09 re f /GS0 gs q 0 0 0 rg BT 29.00 510.17 Td ( Restructuring expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.65 510.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 510.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 29.00 496.17 Td ( Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.65 496.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 496.17 Td () Tj ET Q BT /F2 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 29.00 489.05 132.42 -8.93 re f /GS0 gs q 0 0 0 rg BT 29.00 482.28 Td ( ) Tj ET Q q 0 0 0 rg BT 40.95 482.28 Td (Adjusted earnings per) Tj ET Q q 0 0 0 rg BT 135.77 482.28 Td ( shar) Tj ET Q q 0 0 0 rg BT 156.98 482.28 Td (e) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.00 482.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.15 482.17 Td (0.52) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 508.00 482.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 482.17 Td (0.38) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 444.10 Td (Net cruise revenues increased by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 161.11 444.10 Td ($328 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 212.50 444.10 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 228.33 444.10 Td (1) Tj ET Q q 0 0 0 rg BT 232.96 444.10 Td (1%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 246.29 444.10 Td (, to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 261.57 444.10 Td ($3.4 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.68 444.10 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.46 444.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.46 444.10 Td ( from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.90 444.10 Td ($3.1 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.01 444.10 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.79 444.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.79 444.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 426.10 Td (The increase was caused by:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 414.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 414.10 Td ($136 million - foreign currency impacts \(including both the foreign currency translational and transactional impacts\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 402.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 402.10 Td ($125 million - ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.72 402.10 Td (3.9%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 143.55 402.10 Td ( increase in constant currency net revenue yields ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 390.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 390.10 Td ($67 million - ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.72 390.10 Td (2.2%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 138.55 390.10 Td ( capacity increase in ) Tj ET Q q 0 0 0 rg BT 221.84 390.10 Td (ALBDs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 372.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.05 372.10 Td (3.9%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.88 372.10 Td ( increase in net revenue yields on a constant currency basis was due to a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.60 372.10 Td (4.0%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.43 372.10 Td ( increase in net passenger ticket revenue ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 360.10 Td (yields and a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.26 360.10 Td (3.9%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 98.09 360.10 Td ( increase in net onboard and other revenue yields. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 342.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.05 342.10 Td (4.0%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.88 342.10 Td ( increase in net passenger ticket revenue yields was driven primarily by price improvements in our Caribbean, ) Tj ET Q q 0 0 0 rg BT 507.96 342.10 Td (Australian, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 330.10 Td (European and various other programs including ) Tj ET Q q 0 0 0 rg BT 220.10 330.10 Td (W) Tj ET Q q 0 0 0 rg BT 228.74 330.10 Td (orld Cruises. ) Tj ET Q q 0 0 0 rg BT 282.17 330.10 Td (This ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.44 330.10 Td (4.0%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.27 330.10 Td ( increase in net passenger ticket revenue yields was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 318.10 Td (comprised of a 3.9% increase from our NAA) Tj ET Q q 0 0 0 rg BT 206.39 318.10 Td ( segment and a 4.5% increase from our EA) Tj ET Q q 0 0 0 rg BT 377.72 318.10 Td ( segment.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 300.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.05 300.10 Td (3.9%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.88 300.10 Td ( increase in net onboard and other revenue yields was caused by similar increases in our NAA) Tj ET Q q 0 0 0 rg BT 441.31 300.10 Td ( and EA) Tj ET Q q 0 0 0 rg BT 473.53 300.10 Td ( segments. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 282.10 Td (Gross cruise revenues increased by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 170.00 282.10 Td ($437 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 221.39 282.10 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 237.22 282.10 Td (12%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 255.55 282.10 Td (, to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 270.83 282.10 Td ($4.2 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.95 282.10 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.72 282.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.72 282.10 Td ( from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.16 282.10 Td ($3.8 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.28 282.10 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.05 282.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.05 282.10 Td ( for lar) Tj ET Q q 0 0 0 rg BT 480.08 282.10 Td (gely the same ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 270.10 Td (reasons as discussed above.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 252.10 Td (Net cruise costs excluding fuel increased by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 205.55 252.10 Td ($148 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.94 252.10 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.77 252.10 Td (7.5%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.60 252.10 Td (, to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.88 252.10 Td ($2.1 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.99 252.10 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.77 252.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.77 252.10 Td ( from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.21 252.10 Td ($2.0 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.32 252.10 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.10 252.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.10 252.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 234.10 Td (The increase was driven by:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 222.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 222.10 Td ($84 million - foreign currency impacts \(including both the foreign currency translational and transactional impacts\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 210.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 210.10 Td ($43 million - ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.72 210.10 Td (2.2%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 138.55 210.10 Td ( capacity increase in ) Tj ET Q q 0 0 0 rg BT 221.84 210.10 Td (ALBDs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 198.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 198.10 Td ($20 million - ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.72 198.10 Td (1.0%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 138.55 198.10 Td ( increase in constant currency net cruise costs excluding fuel ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 180.10 Td (Fuel costs increased by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.53 180.10 Td ($62 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 168.92 180.10 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 184.75 180.10 Td (21%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 203.08 180.10 Td (, to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 218.36 180.10 Td ($359 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.75 180.10 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.53 180.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.53 180.10 Td ( from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.97 180.10 Td ($297 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 378.36 180.10 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.14 180.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.14 180.10 Td (. ) Tj ET Q q 0 0 0 rg BT 415.96 180.10 Td (This increase was driven by higher ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 168.10 Td (fuel prices, which accounted for $61 million.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 150.10 Td (Gross cruise costs increased by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 154.47 150.10 Td ($337 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 205.86 150.10 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 221.69 150.10 Td (1) Tj ET Q q 0 0 0 rg BT 226.32 150.10 Td (1%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 239.65 150.10 Td (, to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 254.92 150.10 Td ($3.3 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.04 150.10 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.82 150.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.82 150.10 Td ( from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.25 150.10 Td ($3.0 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.37 150.10 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.15 150.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.15 150.10 Td ( for lar) Tj ET Q q 0 0 0 rg BT 464.17 150.10 Td (gely the same reasons ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 138.10 Td (as discussed above. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 27.00 114.10 Td (Liquidity) Tj ET Q q 0 0 0 rg BT 66.47 114.10 Td (, Financial Condition and Capital Resour) Tj ET Q q 0 0 0 rg BT 242.43 114.10 Td (ces) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 90.10 Td (Our primary financial goals are to profitably grow our cruise business and increase our return on invested capital \(ROIC\), reaching ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 78.10 Td (double-digit returns, while maintaining a strong balance sheet and strong investment grade credit ratings. ) Tj ET Q q 0 0 0 rg BT 449.48 78.10 Td (W) Tj ET Q q 0 0 0 rg BT 458.12 78.10 Td (e define ROIC as the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 66.10 Td (twelve month adjusted earnings before interest divided by the monthly average of debt plus equity minus construction-in-progress. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 54.10 Td (Our ability to generate significant operating cash flow allows us to internally fund our capital investments. ) Tj ET Q q 0 0 0 rg BT 455.32 54.10 Td (W) Tj ET Q q 0 0 0 rg BT 463.96 54.10 Td (e are committed to ) Tj ET Q endstream endobj 51 0 obj <>] /Rotate 0 /Contents 52 0 R>> endobj 52 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (25) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 740.10 Td (returning free cash flow to our shareholders in the form of dividends and/or share repurchases. ) Tj ET Q q 0 0 0 rg BT 406.88 740.10 Td (As we continue to profitably grow our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 728.10 Td (cruise business, we plan to increase our debt level in a manner consistent with maintaining our strong credit metrics. ) Tj ET Q q 0 0 0 rg BT 494.75 728.10 Td (This will allow ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 716.10 Td (us to return both free cash flow and incremental debt proceeds to our shareholders in the form of dividends and/or share repurchases. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 704.10 Td (Other objectives of our capital structure policy are to maintain a suf) Tj ET Q q 0 0 0 rg BT 297.56 704.10 Td (ficient level of liquidity with our available cash and cash ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 692.10 Td (equivalents and committed financings for immediate and future liquidity needs, and a reasonable debt maturity profile.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 668.10 Td (Based on our historical results, projections and financial condition, we believe that our future operating cash flows and liquidity will ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 656.10 Td (be suf) Tj ET Q q 0 0 0 rg BT 50.98 656.10 Td (ficient to fund all of our expected capital projects including shipbuilding commitments, ship improvements, debt service ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 644.10 Td (requirements, working capital needs and other firm commitments over the next several years. ) Tj ET Q q 0 0 0 rg BT 402.53 644.10 Td (W) Tj ET Q q 0 0 0 rg BT 411.17 644.10 Td (e believe that our ability to generate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 632.10 Td (significant operating cash flows and our strong balance sheet, as evidenced by our investment grade credit ratings, provide us with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 620.10 Td (the ability) Tj ET Q q 0 0 0 rg BT 66.62 620.10 Td (, in most financial credit market environments, to obtain debt financing. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 593.10 Td (W) Tj ET Q q 0 0 0 rg BT 35.64 593.10 Td (e had a working capital deficit of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 170.31 593.10 Td ($7.2 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 216.42 593.10 Td ( as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 240.58 593.10 Td (February28, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.18 593.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.62 593.10 Td (November30, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 413.32 593.10 Td (. ) Tj ET Q q 0 0 0 rg BT 418.14 593.10 Td (W) Tj ET Q q 0 0 0 rg BT 426.78 593.10 Td (e operate with a substantial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 581.10 Td (working capital deficit. ) Tj ET Q q 0 0 0 rg BT 122.34 581.10 Td (This deficit is mainly attributable to the fact that, under our business model, substantially all of our passenger ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 569.10 Td (ticket receipts are collected in advance of the applicable sailing date. ) Tj ET Q q 0 0 0 rg BT 303.91 569.10 Td (These advance passenger receipts remain a current liability until ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 557.10 Td (the sailing date. ) Tj ET Q q 0 0 0 rg BT 92.36 557.10 Td (The cash generated from these advance receipts is used interchangeably with cash on hand from other sources, such ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 545.10 Td (as our borrowings and other cash from operations. ) Tj ET Q q 0 0 0 rg BT 230.38 545.10 Td (The cash received as advanced receipts can be used to fund operating expenses, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 533.10 Td (pay down our debt, invest in long term investments or any other use of cash. Included within our working capital deficit are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.09 533.10 Td ($4.3 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 521.10 Td (billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.11 521.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.55 521.10 Td ($4.0 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.67 521.10 Td ( of customer deposits as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 228.09 521.10 Td (February28, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.69 521.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.13 521.10 Td (November30, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.83 521.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 453.49 521.10 Td (. In addition, we have a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 509.10 Td (relatively low-level of accounts receivable and limited investment in inventories. ) Tj ET Q q 0 0 0 rg BT 353.10 509.10 Td (W) Tj ET Q q 0 0 0 rg BT 361.74 509.10 Td (e generate substantial cash flows from operations ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 497.10 Td (and our business model has historically allowed us to maintain this working capital deficit and still meet our operating, investing and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 485.10 Td (financing needs. ) Tj ET Q q 0 0 0 rg BT 94.85 485.10 Td (W) Tj ET Q q 0 0 0 rg BT 103.49 485.10 Td (e expect that we will continue to have working capital deficits in the future.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 27.00 461.10 Td (Sour) Tj ET Q q 0 0 0 rg BT 47.38 461.10 Td (ces and Uses of Cash) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 27.00 449.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 27.00 437.10 Td ( Operating ) Tj ET Q q 0 0 0 rg BT 83.30 437.10 Td (Activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 419.10 Td (Our business provided ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 119.49 419.10 Td ($1.1 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 165.60 419.10 Td ( of net cash from operations during the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.34 419.10 Td (three months ended February 28, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.75 419.10 Td (, an increase of $) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.77 419.10 Td (132 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 407.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 55.89 407.10 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.72 407.10 Td (14%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 90.05 407.10 Td (, compared to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 147.25 407.10 Td ($0.9 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 193.37 407.10 Td ( for the same period in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 286.12 407.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.12 407.10 Td (.) Tj ET Q q 0 0 0 rg BT 310.94 407.10 Td (This increase was caused by an increase in our revenues less ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 395.10 Td (expenses settled in cash and an increase in customer deposits.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 27.00 371.10 Td ( Investing ) Tj ET Q q 0 0 0 rg BT 77.47 371.10 Td (Activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 353.10 Td (During the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.55 353.10 Td (three months ended February 28, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 226.96 353.10 Td (, net cash used in investing activities was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.87 353.10 Td ($591 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.26 353.10 Td (. ) Tj ET Q q 0 0 0 rg BT 450.08 353.10 Td (This was caused by:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 338.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 338.10 Td (Capital expenditures of $97 million for our ongoing new shipbuilding program) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 326.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 326.10 Td (Capital expenditures of $477 million for ship improvements and replacements, information technology and buildings and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 314.10 Td (improvements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 302.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 302.10 Td (Payments of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 115.22 302.10 Td ($21 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 161.61 302.10 Td ( for fuel derivative settlements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 278.10 Td (During the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.55 278.10 Td (three months ended February 28, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 226.96 278.10 Td (, net cash used in investing activities was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.87 278.10 Td ($474 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.26 278.10 Td (. ) Tj ET Q q 0 0 0 rg BT 450.08 278.10 Td (This was driven by:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 263.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 263.10 Td (Capital expenditures of $36 million for our ongoing new shipbuilding program) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 251.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 251.10 Td (Capital expenditures of $376 million for ship improvements and replacements, information technology and buildings and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 239.10 Td (improvements ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 227.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 227.10 Td (Payments of $52 million for fuel derivative settlements) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 27.00 215.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 27.00 203.10 Td ( Financing ) Tj ET Q q 0 0 0 rg BT 84.98 203.10 Td (Activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 185.10 Td (During the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.55 185.10 Td (three months ended February 28, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 226.96 185.10 Td (, net cash used in financing activities of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.74 185.10 Td ($428 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.13 185.10 Td ( was substantially due to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 173.10 Td (following: ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 158.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 158.10 Td (Net proceeds of short-term borrowings of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 231.84 158.10 Td ($61) Tj ET Q q 0 0 0 rg BT 246.47 158.10 Td (1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.86 158.10 Td ( in connection with our availability of, and needs for) Tj ET Q q 0 0 0 rg BT 492.40 158.10 Td (, cash at various ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 146.10 Td (times throughout the period) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 134.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 134.10 Td (Repayments of $) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 130.76 134.10 Td (963 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 177.16 134.10 Td ( of long-term debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 122.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 122.10 Td (Issuances of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.65 122.10 Td ($469 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 166.04 122.10 Td ( of long-term debt under a term loan) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 110.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 110.10 Td (Payments of cash dividends of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 187.70 110.10 Td ($323 million) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 98.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 98.10 Td (Purchases of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 116.32 98.10 Td ($218 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 167.71 98.10 Td ( of Carnival Corporation common stock and Carnival plc ordinary shares in open market ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 86.10 Td (transactions under our Repurchase Program ) Tj ET Q endstream endobj 53 0 obj <>] /Rotate 0 /Contents 54 0 R>> endobj 54 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (26) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 740.10 Td (During the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.55 740.10 Td (three months ended February 28, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 226.96 740.10 Td (, net cash used in financing activities of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.74 740.10 Td ($615 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.13 740.10 Td ( was substantially due to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 728.10 Td (following:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 716.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 716.10 Td (Net repayments of short-term borrowings of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 242.40 716.10 Td ($289 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.79 716.10 Td ( in connection with our availability of, and needs for) Tj ET Q q 0 0 0 rg BT 503.33 716.10 Td (, cash at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 704.10 Td (various times throughout the period) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 692.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 692.10 Td (Payments of cash dividends of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 187.70 692.10 Td ($254 million) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 680.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 680.10 Td (Purchases of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 116.32 680.10 Td ($69 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 162.71 680.10 Td ( of Carnival plc ordinary shares in open market transactions under our Repurchase Program ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 27.00 656.10 Td ( Futur) Tj ET Q q 0 0 0 rg BT 64.32 656.10 Td (e Commitments and Funding Sour) Tj ET Q q 0 0 0 rg BT 211.94 656.10 Td (ces ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 638.10 Td (Our total annual capital expenditures consist of ships under contract for construction and estimated improvements to existing ships ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 626.10 Td (and shoreside assets which are currently expected to be: ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 26.75 594.60 223.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 249.75 594.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 253.75 594.60 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.75 594.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 305.75 594.60 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.75 594.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.75 594.60 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.75 594.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.75 594.60 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.75 594.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.75 594.60 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.75 594.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.75 594.60 48.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.75 594.6 m 301.75 594.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.75 594.6 m 353.75 594.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.75 594.6 m 405.75 594.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.75 594.6 m 457.75 594.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.75 594.6 m 509.75 594.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.75 594.6 m 561.75 594.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.75 594.6 m 301.75 594.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.75 594.6 m 353.75 594.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.75 594.6 m 405.75 594.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.75 594.6 m 457.75 594.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.75 594.6 m 509.75 594.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.75 594.6 m 561.75 594.6 l s BT /F4 10.00 Tf ET q 0 0 0 rg BT 29.25 599.31 Td (\(in billions\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 267.25 599.28 Td (2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 319.25 599.28 Td (2019) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 371.25 599.28 Td (2020) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 423.25 599.28 Td (2021) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 475.25 599.28 Td (2022) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 527.25 599.28 Td (2023) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 29.25 584.27 Td (T) Tj ET Q q 0 0 0 rg BT 34.66 584.27 Td (otal annual capital expenditures) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.25 584.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 285.40 584.27 Td (4.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.25 584.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.40 584.27 Td (5.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.25 584.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.40 584.27 Td (5.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.25 584.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.40 584.27 Td (5.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.25 584.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.40 584.27 Td (4.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.25 584.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.40 584.27 Td (2.5) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 562.10 Td (The year) Tj ET Q q 0 0 0 rg BT 62.05 562.10 Td (-over) Tj ET Q q 0 0 0 rg BT 82.95 562.10 Td (-year percentage increases in our annual capacity are expected to result primarily from contracted new ships entering ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 550.10 Td (service and are currently expected to be:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 27.50 518.60 223.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 250.50 518.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 254.50 518.60 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.50 518.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.50 518.60 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 354.50 518.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.50 518.60 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 406.50 518.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 410.50 518.60 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 458.50 518.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.50 518.60 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.50 518.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 514.50 518.60 48.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 254.5 518.6 m 302.5 518.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 306.5 518.6 m 354.5 518.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 518.6 m 406.5 518.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 410.5 518.6 m 458.5 518.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 462.5 518.6 m 510.5 518.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 514.5 518.6 m 562.5 518.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 254.5 518.6 m 302.5 518.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 306.5 518.6 m 354.5 518.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 518.6 m 406.5 518.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 410.5 518.6 m 458.5 518.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 462.5 518.6 m 510.5 518.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 514.5 518.6 m 562.5 518.6 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 268.00 523.28 Td (2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 320.00 523.28 Td (2019) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 372.00 523.28 Td (2020) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 424.00 523.28 Td (2021) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 476.00 523.28 Td (2022) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 528.00 523.28 Td (2023) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 30.00 508.27 Td (Annual capacity increase \(a\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 281.15 508.27 Td (2.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.65 508.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.15 508.27 Td (5.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.65 508.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.15 508.27 Td (7.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.65 508.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.15 508.27 Td (7.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.65 508.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 508.27 Td (5.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.65 508.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 508.27 Td (3.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 508.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 489.10 Td (\(a\) ) Tj ET Q q 0 0 0 rg BT 54.00 489.10 Td (These percentage increases include only contracted ship orders and dispositions.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 462.10 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 39.50 462.10 Td (February28, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 113.10 462.10 Td (, we had liquidity of $14.4 billion.Our liquidity consisted of $157 million of cash and cash equivalents, which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 450.10 Td (excludes $296 million of cash used for current operations, $2.1 billion available for borrowing under our revolving credit facilities, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 438.10 Td (net of our outstanding commercial paper borrowings, and $12.1 billion under our committed future financings, which are comprised ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 426.10 Td (of ship export credit facilities.) Tj ET Q q 0 0 0 rg BT 149.56 426.10 Td (These commitments are from numerous lar) Tj ET Q q 0 0 0 rg BT 321.82 426.10 Td (ge and well-established banks and export credit agencies, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 414.10 Td (which we believe will honor their contractual agreements with us.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 29.25 376.60 270.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 299.25 376.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 303.25 376.60 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.25 376.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.25 376.60 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 403.25 376.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 407.25 376.60 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.25 376.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.25 376.60 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.25 376.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 511.25 376.60 48.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 303.25 376.6 m 351.25 376.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 355.25 376.6 m 403.25 376.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407.25 376.6 m 455.25 376.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459.25 376.6 m 507.25 376.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 511.25 376.6 m 559.25 376.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 303.25 376.6 m 351.25 376.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 355.25 376.6 m 403.25 376.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407.25 376.6 m 455.25 376.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459.25 376.6 m 507.25 376.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 511.25 376.6 m 559.25 376.6 l s BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.75 381.31 Td (\(in billions\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 316.75 381.28 Td (2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 368.75 381.28 Td (2019) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 420.75 381.28 Td (2020) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 472.75 381.28 Td (2021) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 524.75 381.28 Td (2022) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 31.75 366.72 Td (A) Tj ET Q q 0 0 0 rg BT 38.23 366.72 Td (vailability of committed future financing at February 28, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 305.75 366.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.90 366.27 Td (2.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.75 366.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.90 366.27 Td (2.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.75 366.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.90 366.27 Td (3.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.75 366.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.90 366.27 Td (3.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.75 366.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.90 366.27 Td (1.0) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 338.10 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 39.50 338.10 Td (February28, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 113.10 338.10 Td (, all of our revolving credit facilities are scheduled to mature in 2021, except for $300 million that matures in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 326.10 Td (2020.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 302.10 Td (Substantially all of our debt agreements contain financial covenants as described in Note 5 - Unsecured Debt in the annual ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 290.10 Td (consolidated financial statements, which are included within our Form 10-K. ) Tj ET Q q 0 0 0 rg BT 336.37 290.10 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.87 290.10 Td (February28, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.47 290.10 Td (, we were in compliance with our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 278.10 Td (debt covenants. In addition, based on, among other things, our forecasted operating results, financial condition and cash flows, we ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 266.10 Td (expect to be in compliance with our debt covenants for the foreseeable future. Generally) Tj ET Q q 0 0 0 rg BT 379.54 266.10 Td (, if an event of default under any debt ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 254.10 Td (agreement occurs, then pursuant to cross default acceleration clauses, substantially all of our outstanding debt and derivative contract ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 242.10 Td (payables could become due, and all debt and derivative contracts could be terminated.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 27.00 218.10 Td (Off-Balance Sheet ) Tj ET Q q 0 0 0 rg BT 106.43 218.10 Td (Arrangements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 194.10 Td (W) Tj ET Q q 0 0 0 rg BT 35.64 194.10 Td (e are not a party to any of) Tj ET Q q 0 0 0 rg BT 137.91 194.10 Td (f-balance sheet arrangements, including guarantee contracts, retained or contingent interests, certain derivative ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 182.10 Td (instruments and variable interest entities that either have, or are reasonably likely to have, a current or future material ef) Tj ET Q q 0 0 0 rg BT 506.35 182.10 Td (fect on our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 170.10 Td (consolidated financial statements.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 27.00 146.10 Td (Item 3. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 59.490234375 144.53505859375002 m 318.2060546875 144.53505859375002 l s q 0 0 0 rg BT 59.49 146.10 Td (Quantitative and Qualitative Disclosur) Tj ET Q q 0 0 0 rg BT 224.59 146.10 Td (es ) Tj ET Q q 0 0 0 rg BT 234.87 146.10 Td (About Market Risk) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 318.21 146.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 122.10 Td (For a discussion of our hedging strategies and market risks, see the discussion below and Note 4 - Fair ) Tj ET Q q 0 0 0 rg BT 443.40 122.10 Td (V) Tj ET Q q 0 0 0 rg BT 449.51 122.10 Td (alue Measurements, Derivative ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 110.10 Td (Instruments and Hedging ) Tj ET Q q 0 0 0 rg BT 130.04 110.10 Td (Activities in our consolidated financial statements and Management) Tj ET Q q 0 0 0 rg BT 409.12 110.10 Td (s Discussion and ) Tj ET Q q 0 0 0 rg BT 478.29 110.10 Td (Analysis of Financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 98.10 Td (Condition and Results of Operations within our Form 10-K.) Tj ET Q endstream endobj 55 0 obj <>] /Rotate 0 /Contents 56 0 R>> endobj 56 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (27) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 27.00 742.25 Td ( Operational Curr) Tj ET Q q 0 0 0 rg BT 112.64 742.25 Td (ency Risks ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 718.25 Td (Our operations primarily utilize the U.S. dollar) Tj ET Q q 0 0 0 rg BT 214.33 718.25 Td (, ) Tj ET Q q 0 0 0 rg BT 218.78 718.25 Td (Australian dollar) Tj ET Q q 0 0 0 rg BT 285.86 718.25 Td (, euro or sterling as their functional currencies. Our operations also have ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 706.25 Td (revenue and expenses denominated in non-functional currencies. Movements in foreign currency exchange rates will af) Tj ET Q q 0 0 0 rg BT 504.69 706.25 Td (fect our financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 694.25 Td (statements. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 670.25 Td (Based on a 10% change in all currency exchange rates that were used in our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.26 670.25 Td (March22, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.86 670.25 Td ( guidance, we estimate that our adjusted ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 658.25 Td (diluted earnings per share guidance would change by the following:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 634.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 634.25 Td ($0.32 per share for the remaining three quarters of 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 622.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 622.25 Td ($0.06 per share for the second quarter of 2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 27.00 598.25 Td ( Inter) Tj ET Q q 0 0 0 rg BT 60.98 598.25 Td (est Rate Risks ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 574.25 Td (The composition of our debt, including the ef) Tj ET Q q 0 0 0 rg BT 208.45 574.25 Td (fect of foreign currency swaps and interest rate swaps, was as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 26.50 543.75 462.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 543.75 96.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 26.50 513.75 462.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 513.75 96.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 26.50 483.75 462.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 483.75 96.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488.5 543.75 m 584.5 543.75 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 496.95 548.43 Td (February 28, 2018) Tj ET Q BT /F1 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 29.00 540.35 40.26 -9.09 re f /GS0 gs q 0 0 0 rg BT 29.00 533.42 Td (Fixed rate) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 565.65 533.42 Td (21) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 575.65 533.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 29.00 518.42 Td (EUR fixed rate) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 565.65 518.42 Td (38) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 575.65 518.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 29.00 510.35 50.82 -9.09 re f /GS0 gs q 0 0 0 rg BT 29.00 503.42 Td (Floating rate) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 565.65 503.42 Td (1) Tj ET Q q 0 0 0 rg BT 570.65 503.42 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 575.65 503.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 29.00 488.42 Td (EUR floating rate) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 565.65 488.42 Td (20) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 575.65 488.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 29.00 480.35 70.17 -9.09 re f /GS0 gs q 0 0 0 rg BT 29.00 473.42 Td (GBP) Tj ET Q q 0 0 0 rg BT 48.08 473.42 Td ( floating rate) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 565.65 473.42 Td (10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 575.65 473.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 27.00 457.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 27.00 445.25 Td ( Fuel Price Risks) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 421.25 Td (Based on a 10% change in fuel prices versus the current spot price that was used to calculate fuel expense in our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.51 421.25 Td (March22, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.11 421.25 Td ( guidance, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 409.25 Td (we estimate that our adjusted diluted earnings per share guidance would change by the following:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 385.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 385.25 Td ($0.15 per share for the remaining three quarters of 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 373.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 373.25 Td ($0.05 per share for the second quarter of 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 349.25 Td (Based on a 10% change in Brent prices versus the current spot price that was used to calculate realized gains \(losses\) on fuel derivatives in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 337.25 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 42.83 337.25 Td (March22, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 106.43 337.25 Td ( guidance, we estimate that our adjusted diluted earnings per share guidance would change by the following:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 313.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 313.25 Td ($0.04 per share for the remaining three quarters of 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 301.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 301.25 Td ($0.01 per share for the second quarter of 2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 27.00 277.25 Td (Item 4. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 59.490234375 275.68505859375 m 168.1083984375 275.68505859375 l s q 0 0 0 rg BT 59.49 277.25 Td (Contr) Tj ET Q q 0 0 0 rg BT 84.86 277.25 Td (ols and Pr) Tj ET Q q 0 0 0 rg BT 128.02 277.25 Td (ocedur) Tj ET Q q 0 0 0 rg BT 157.28 277.25 Td (es.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 27.00 253.25 Td (A. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 39.2216796875 251.68505859375 m 252.107421875 251.68505859375 l s q 0 0 0 rg BT 39.22 253.25 Td (Evaluation of Disclosur) Tj ET Q q 0 0 0 rg BT 139.05 253.25 Td (e Contr) Tj ET Q q 0 0 0 rg BT 171.36 253.25 Td (ols and Pr) Tj ET Q q 0 0 0 rg BT 214.52 253.25 Td (ocedur) Tj ET Q q 0 0 0 rg BT 243.78 253.25 Td (es) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 223.25 Td (Disclosure controls and procedures are designed to provide reasonable assurance that information required to be disclosed by us in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 211.25 Td (reports that we file or submit under the Securities Exchange ) Tj ET Q q 0 0 0 rg BT 268.60 211.25 Td (Act of 1934, is recorded, processed, summarized and reported, within the time ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 199.25 Td (periods specified in the U.S. Securities and Exchange Commission) Tj ET Q q 0 0 0 rg BT 296.95 199.25 Td (s rules and forms.Disclosure controls and procedures include, without ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 187.25 Td (limitation, controls and procedures designed to ensure that information required to be disclosed by us in our reports that we file or submit ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 175.25 Td (under the Securities Exchange ) Tj ET Q q 0 0 0 rg BT 150.29 175.25 Td (Act of 1934 is accumulated and communicated to our management, including our principal executive and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 163.25 Td (principal financial of) Tj ET Q q 0 0 0 rg BT 110.67 163.25 Td (ficers, or persons performing similar functions, as appropriate, to allow timely decisions regarding required ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 151.25 Td (disclosure.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 133.25 Td (Our President and Chief Executive Of) Tj ET Q q 0 0 0 rg BT 179.28 133.25 Td (ficer and our Chief Financial Of) Tj ET Q q 0 0 0 rg BT 307.66 133.25 Td (ficer and Chief ) Tj ET Q q 0 0 0 rg BT 369.58 133.25 Td (Accounting Of) Tj ET Q q 0 0 0 rg BT 429.10 133.25 Td (ficer have evaluated our disclosure ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 121.25 Td (controls and procedures and have concluded, as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 231.09 121.25 Td (February28, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.69 121.25 Td (, that they are ef) Tj ET Q q 0 0 0 rg BT 369.20 121.25 Td (fective at a reasonable level of assurance, as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 109.25 Td (described above.) Tj ET Q endstream endobj 57 0 obj <>] /Rotate 0 /Contents 58 0 R>> endobj 58 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (28) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 27.00 742.25 Td (B. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 38.669921875 740.68505859375 m 268.865234375 740.68505859375 l s q 0 0 0 rg BT 38.67 742.25 Td (Changes in Internal Contr) Tj ET Q q 0 0 0 rg BT 151.56 742.25 Td (ol over) Tj ET Q q 0 0 0 rg BT 180.53 742.25 Td ( Financial Reporting) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 718.25 Td (There have been no changes in our internal control over financial reporting during the quarter ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.17 718.25 Td (February28, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 503.77 718.25 Td ( that have ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 706.25 Td (materially af) Tj ET Q q 0 0 0 rg BT 77.63 706.25 Td (fected or are reasonably likely to materially af) Tj ET Q q 0 0 0 rg BT 262.08 706.25 Td (fect our internal control over financial reporting. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 227.55 682.25 Td (P) Tj ET Q q 0 0 0 rg BT 232.92 682.25 Td (AR) Tj ET Q q 0 0 0 rg BT 247.01 682.25 Td (T) Tj ET Q q 0 0 0 rg BT 253.50 682.25 Td ( II - OTHER INFORMA) Tj ET Q q 0 0 0 rg BT 358.87 682.25 Td (TION) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 27.00 658.25 Td (Item 1. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 59.490234375 656.68505859375 m 137.3515625 656.68505859375 l s q 0 0 0 rg BT 59.49 658.25 Td (Legal Pr) Tj ET Q q 0 0 0 rg BT 96.24 658.25 Td (oceedings) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 137.35 658.25 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 637.25 Td (As previously disclosed, on May 19, 2017, Holland ) Tj ET Q q 0 0 0 rg BT 235.04 637.25 Td (America Line and Princess Cruises notified the National Oceanic and ) Tj ET Q q 0 0 0 rg BT 514.95 637.25 Td (Atmospheric ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 625.25 Td (Administration \(NOAA\) regarding dischar) Tj ET Q q 0 0 0 rg BT 206.49 625.25 Td (ges made by certain vessels in the recently expanded area of the National Marine Sanctuary in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 613.25 Td (the Farallones Islands. NOAA) Tj ET Q q 0 0 0 rg BT 147.54 613.25 Td ( continues to conduct an investigation. ) Tj ET Q q 0 0 0 rg BT 303.71 613.25 Td (W) Tj ET Q q 0 0 0 rg BT 312.35 613.25 Td (e believe the ultimate outcome will not have a material impact on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 601.25 Td (our consolidated financial statements.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 27.00 577.25 Td (Item 1A. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 66.7119140625 575.68505859375 m 120.8720703125 575.68505859375 l s q 0 0 0 rg BT 66.71 577.25 Td (Risk Factors) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 120.87 577.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 553.25 Td (The risk factors that af) Tj ET Q q 0 0 0 rg BT 117.34 553.25 Td (fect our business and financial results are discussed in Item 1A. Risk Factors, included in the Form 10-K, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 541.25 Td (there has been no material change to these risk factors since the Form 10-K filing. ) Tj ET Q q 0 0 0 rg BT 357.27 541.25 Td (W) Tj ET Q q 0 0 0 rg BT 365.91 541.25 Td (e wish to caution the reader that the risk factors ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 529.25 Td (discussed in Item 1A. Risk Factors, included in the Form 10-K, and those described elsewhere in this report or other Securities and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 517.25 Td (Exchange Commission filings, could cause future results to dif) Tj ET Q q 0 0 0 rg BT 278.16 517.25 Td (fer materially from those stated in any forward-looking statements. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 505.25 Td (Additional risks and uncertainties not currently known to us or that we currently deem to be immaterial also may materially adversely ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 493.25 Td (af) Tj ET Q q 0 0 0 rg BT 34.59 493.25 Td (fect our business, financial condition or future results.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 27.00 469.25 Td (Item 2. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 59.490234375 467.68505859375 m 313.3623046875 467.68505859375 l s q 0 0 0 rg BT 59.49 469.25 Td (Unr) Tj ET Q q 0 0 0 rg BT 76.53 469.25 Td (egister) Tj ET Q q 0 0 0 rg BT 104.67 469.25 Td (ed Sales of Equity Securities and Use of Pr) Tj ET Q q 0 0 0 rg BT 285.59 469.25 Td (oceeds) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 313.36 469.25 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 27.00 445.25 Td (A. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 39.2216796875 443.68505859375 m 130.2275390625 443.68505859375 l s q 0 0 0 rg BT 39.22 445.25 Td (Repur) Tj ET Q q 0 0 0 rg BT 66.26 445.25 Td (chase Pr) Tj ET Q q 0 0 0 rg BT 102.46 445.25 Td (ogram) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 130.23 445.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 421.25 Td (Under a share repurchase program ef) Tj ET Q q 0 0 0 rg BT 174.80 421.25 Td (fective 2004, we are authorized to repurchase Carnival Corporation common stock and Carnival plc ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 409.25 Td (ordinary shares \(the Repurchase Program\). On ) Tj ET Q q 0 0 0 rg BT 223.88 409.25 Td (April 6, 2017, the Boards of Directors approved a modification of the general ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 397.25 Td (authorization under the Repurchase Program, which replenished the remaining authorized repurchases at the time of the approval to $1.0 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 385.25 Td (billion. ) Tj ET Q q 0 0 0 rg BT 57.93 385.25 Td (The Repurchase Program does not have an expiration date and may be discontinued by our Boards of Directors at any time. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 361.25 Td (During the three months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 153.36 361.25 Td (February28, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 226.96 361.25 Td (, repurchases of Carnival Corporation common stock pursuant to the Repurchase ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 349.25 Td (Program were as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 26.50 282.75 210.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 236.50 282.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 240.50 282.75 112.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.50 282.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 282.75 112.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.50 282.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.50 282.75 112.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 26.50 252.75 210.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 236.50 252.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 240.50 252.75 112.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.50 252.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 252.75 112.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.50 252.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.50 252.75 112.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 26.5 282.75 m 236.5 282.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 240.5 282.75 m 352.5 282.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 282.75 m 468.5 282.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472.5 282.75 m 584.5 282.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 237.75 m 468.5 237.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 240.5 237.75 m 352.5 237.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 240.5 223.75 m 352.5 223.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 240.5 221.75 m 352.5 221.75 l s BT /F2 9.00 Tf ET q 0 0 0 rg BT 118.25 287.20 Td (Period) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 245.30 314.20 Td (T) Tj ET Q q 0 0 0 rg BT 250.48 314.20 Td (otal Number) Tj ET Q q 0 0 0 rg BT 299.06 314.20 Td ( of Shar) Tj ET Q q 0 0 0 rg BT 329.40 314.20 Td (es of ) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 253.85 305.20 Td (Carnival Corporation ) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 245.05 296.20 Td (Common Stock Pur) Tj ET Q q 0 0 0 rg BT 320.89 296.20 Td (chased ) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 272.85 287.20 Td (\(in millions\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 367.80 314.20 Td (A) Tj ET Q q 0 0 0 rg BT 373.63 314.20 Td (verage Price Paid per) Tj ET Q q 0 0 0 rg BT 456.18 314.20 Td ( ) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 377.80 305.20 Td (Shar) Tj ET Q q 0 0 0 rg BT 396.14 305.20 Td (e of Carnival ) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 369.10 296.20 Td (Corporation Common ) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 401.20 287.20 Td (Stock) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 477.95 323.20 Td (Maximum Dollar) Tj ET Q q 0 0 0 rg BT 544.53 323.20 Td ( ) Tj ET Q q 0 0 0 rg BT 546.61 323.20 Td (V) Tj ET Q q 0 0 0 rg BT 552.29 323.20 Td (alue of ) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 481.55 314.20 Td (Shar) Tj ET Q q 0 0 0 rg BT 499.89 314.20 Td (es ) Tj ET Q q 0 0 0 rg BT 509.48 314.20 Td (That May ) Tj ET Q q 0 0 0 rg BT 549.64 314.20 Td (Y) Tj ET Q q 0 0 0 rg BT 555.15 314.20 Td (et Be ) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 487.40 305.20 Td (Pur) Tj ET Q q 0 0 0 rg BT 501.73 305.20 Td (chased Under) Tj ET Q q 0 0 0 rg BT 554.32 305.20 Td ( the ) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 487.00 296.20 Td (Repur) Tj ET Q q 0 0 0 rg BT 511.34 296.20 Td (chase Pr) Tj ET Q q 0 0 0 rg BT 543.91 296.20 Td (ogram ) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 504.85 287.20 Td (\(in millions\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 29.00 272.42 Td (December 1, 2017 through December 31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.15 272.42 Td (0.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.00 272.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.15 272.42 Td (66.01) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.00 272.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 565.65 272.42 Td (515) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 29.00 257.42 Td (January 1, 2018 through January 31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.15 257.42 Td (0.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.00 257.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.15 257.42 Td (69.06) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.00 257.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 565.65 257.42 Td (440) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 29.00 242.42 Td (February 1, 2018 through February 28, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.65 242.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.00 242.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.15 242.42 Td (64.97) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.00 242.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 565.65 242.42 Td (370) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 29.00 227.42 Td (T) Tj ET Q q 0 0 0 rg BT 34.41 227.42 Td (otal) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.15 227.42 Td (0.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.00 227.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.15 227.42 Td (67.53) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 199.25 Td (During the three months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 153.36 199.25 Td (February28, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 226.96 199.25 Td (, repurchases of Carnival plc ordinary shares pursuant to the Repurchase Program were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 187.25 Td (as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 26.50 120.75 210.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 236.50 120.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 240.50 120.75 112.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.50 120.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 120.75 112.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.50 120.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.50 120.75 112.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 26.50 90.75 210.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 236.50 90.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 240.50 90.75 112.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.50 90.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 90.75 112.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.50 90.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.50 90.75 112.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 26.5 120.75 m 236.5 120.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 240.5 120.75 m 352.5 120.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 120.75 m 468.5 120.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472.5 120.75 m 584.5 120.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472.5 120.75 m 584.5 120.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 75.75 m 468.5 75.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 240.5 75.75 m 352.5 75.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 240.5 61.75 m 352.5 61.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 240.5 59.75 m 352.5 59.75 l s BT /F2 9.00 Tf ET q 0 0 0 rg BT 118.25 125.20 Td (Period) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 245.30 143.20 Td (T) Tj ET Q q 0 0 0 rg BT 250.89 143.20 Td (otal Number) Tj ET Q q 0 0 0 rg BT 299.14 143.20 Td ( of Shar) Tj ET Q q 0 0 0 rg BT 329.48 143.20 Td (es of) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 244.45 134.20 Td (Carnival plc Pur) Tj ET Q q 0 0 0 rg BT 308.87 134.20 Td (chased \(in) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 279.20 125.20 Td (millions\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 367.80 134.20 Td (A) Tj ET Q q 0 0 0 rg BT 373.97 134.20 Td (verage Price Paid per) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 370.95 125.20 Td (Shar) Tj ET Q q 0 0 0 rg BT 389.37 125.20 Td (e of Carnival plc) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 477.95 161.20 Td (Maximum Dollar) Tj ET Q q 0 0 0 rg BT 544.53 161.20 Td ( ) Tj ET Q q 0 0 0 rg BT 546.61 161.20 Td (V) Tj ET Q q 0 0 0 rg BT 552.29 161.20 Td (alue of) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 481.55 152.20 Td (Shar) Tj ET Q q 0 0 0 rg BT 499.89 152.20 Td (es ) Tj ET Q q 0 0 0 rg BT 509.48 152.20 Td (That May ) Tj ET Q q 0 0 0 rg BT 549.64 152.20 Td (Y) Tj ET Q q 0 0 0 rg BT 555.15 152.20 Td (et Be) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 487.40 143.20 Td (Pur) Tj ET Q q 0 0 0 rg BT 501.73 143.20 Td (chased Under) Tj ET Q q 0 0 0 rg BT 554.32 143.20 Td ( the) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 487.00 134.20 Td (Repur) Tj ET Q q 0 0 0 rg BT 511.34 134.20 Td (chase Pr) Tj ET Q q 0 0 0 rg BT 543.91 134.20 Td (ogram) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 504.85 125.20 Td (\(in millions\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 29.00 110.42 Td (December 1, 2017 through December 31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.15 110.42 Td (1.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.00 110.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.15 110.42 Td (65.44) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.00 110.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 565.65 110.42 Td (515) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 29.00 95.42 Td (January 1, 2018 through January 31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.15 95.42 Td (1.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.00 95.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.15 95.42 Td (68.23) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.00 95.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 565.65 95.42 Td (440) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 29.00 80.42 Td (February 1, 2018 through February 28, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.15 80.42 Td (1.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.00 80.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.15 80.42 Td (68.15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.00 80.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 565.65 80.42 Td (370) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 29.00 65.42 Td (T) Tj ET Q q 0 0 0 rg BT 34.41 65.42 Td (otal) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.15 65.42 Td (3.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.00 65.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.15 65.42 Td (67.25) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 59 0 obj <>] /Rotate 0 /Contents 60 0 R>> endobj 60 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (29) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 742.10 Td (No shares of Carnival Corporation common stock and Carnival plc ordinary shares were purchased outside of publicly announced plans or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 730.10 Td (programs.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 27.00 706.10 Td (B. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 38.669921875 704.53505859375 m 132.9326171875 704.53505859375 l s q 0 0 0 rg BT 38.67 706.10 Td (Stock Swap Pr) Tj ET Q q 0 0 0 rg BT 101.27 706.10 Td (ograms) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 132.93 706.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 682.10 Td (In addition to the Repurchase Program, we have programs that allow us to obtain an economic benefit when either Carnival Corporation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 670.10 Td (common stock is trading at a premium to the price of Carnival plc ordinary shares or Carnival plc ordinary shares are trading at a premium ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 658.10 Td (to Carnival Corporation common stock \(the Stock Swap Programs\). For example: ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 634.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 634.10 Td (In the event Carnival Corporation common stock trades at a premium to Carnival plc ordinary shares, we may elect to sell shares ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 622.10 Td (of Carnival Corporation common stock, at prevailing market prices in ordinary brokers) Tj ET Q q 0 0 0 rg BT 413.83 622.10 Td ( transactions and repurchase an equivalent ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 610.10 Td (number of Carnival plc ordinary shares in the UK market. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 586.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 586.10 Td (In the event Carnival plc ordinary shares trade at a premium to Carnival Corporation common stock, we may elect to sell ordinary ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 574.10 Td (shares of Carnival plc, at prevailing market prices in ordinary brokers) Tj ET Q q 0 0 0 rg BT 344.10 574.10 Td ( transactions and repurchase an equivalent number of shares ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 562.10 Td (of Carnival Corporation common stock in the U.S. market.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 538.10 Td (Any realized economic benefit under the Stock Swap Programs is used for general corporate purposes, which could include repurchasing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 526.10 Td (additional stock under the Repurchase Program. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 502.10 Td (Under the Stock Swap Programs ef) Tj ET Q q 0 0 0 rg BT 167.63 502.10 Td (fective 2008, the Boards of Directors have made the following authorizations:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 478.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 478.10 Td (In January 2017, to sell up to 22.0 million shares of Carnival Corporation common stock in the U.S. market and repurchase up to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 466.10 Td (22.0 million of Carnival plc ordinary shares in the UK market. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 442.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 442.10 Td (In February 2016, to sell up to 26.9 million of existing Carnival plc ordinary shares in the UK market and repurchase up to 26.9 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 430.10 Td (million shares of Carnival Corporation common stock in the U.S. market. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 406.10 Td (Any sales of Carnival Corporation shares and Carnival plc ordinary shares have been or will be registered under the Securities ) Tj ET Q q 0 0 0 rg BT 534.07 406.10 Td (Act of 1933. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 394.10 Td (During the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.55 394.10 Td (three months ended February 28, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 226.96 394.10 Td (, no Carnival Corporation common stock or Carnival plc ordinary shares were sold or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 382.10 Td (repurchased under the Stock Swap Programs.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 27.00 358.10 Td (C. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 39.2216796875 356.53505859375 m 193.416015625 356.53505859375 l s q 0 0 0 rg BT 39.22 358.10 Td (Carnival plc Shar) Tj ET Q q 0 0 0 rg BT 115.16 358.10 Td (eholder) Tj ET Q q 0 0 0 rg BT 147.20 358.10 Td ( ) Tj ET Q q 0 0 0 rg BT 149.14 358.10 Td (Appr) Tj ET Q q 0 0 0 rg BT 171.75 358.10 Td (ovals) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 334.10 Td (Carnival plc ordinary share repurchases under both the Repurchase Program and the Stock Swap Programs require annual shareholder ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 322.10 Td (approval. ) Tj ET Q q 0 0 0 rg BT 66.80 322.10 Td (The existing shareholder approval is limited to a maximum of 21.6 million ordinary shares and is valid until the earlier of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 310.10 Td (conclusion of the Carnival plc 2018 annual general meeting or July 4, 2018.) Tj ET Q endstream endobj 61 0 obj <>] /Rotate 0 /Contents 62 0 R>> endobj 62 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (30) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 27.00 742.25 Td (Item 6. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 59.490234375 740.68505859375 m 97.5615234375 740.68505859375 l s q 0 0 0 rg BT 59.49 742.25 Td (Exhibits.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.56 742.25 Td ( ) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 403.5 699.75 m 438.5 699.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 699.75 m 442.5 699.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 699.75 m 480.5 699.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480.5 699.75 m 484.5 699.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 484.5 699.75 m 531.5 699.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 403.5 674.75 m 438.5 674.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 674.75 m 480.5 674.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 484.5 674.75 m 531.5 674.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 535.5 674.75 m 585.5 674.75 l s BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 30 720.86259765625 m 129.66796875 720.86259765625 l s q 0 0 0 rg BT 30.00 722.43 Td (INDEX ) Tj ET Q q 0 0 0 rg BT 64.55 722.43 Td (T) Tj ET Q q 0 0 0 rg BT 71.04 722.43 Td (O ) Tj ET Q q 0 0 0 rg BT 81.31 722.43 Td (EXHIBITS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 409.60 704.43 Td (Incorporated by Refer) Tj ET Q q 0 0 0 rg BT 505.60 704.43 Td (ence) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 547.75 699.43 Td (Filed/) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 538.00 689.43 Td (Furnished) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 540.05 679.43 Td (Her) Tj ET Q q 0 0 0 rg BT 556.52 679.43 Td (ewith) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 30.00 689.43 Td (Exhibit) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 30 677.86259765625 m 65.46142578125 677.86259765625 l s q 0 0 0 rg BT 30.00 679.43 Td (Number) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 65.37 679.43 Td ( ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 93 677.86259765625 m 176.6181640625 677.86259765625 l s q 0 0 0 rg BT 93.00 679.43 Td (Exhibit Description) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 408.55 679.43 Td (Form) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 445.15 679.43 Td (Exhibit) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 494.95 689.43 Td (Filing ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 497.50 679.43 Td (Date) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 30.00 660.43 Td (Articles of incorporation and by-laws) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 30.00 642.32 Td (3.1) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 93 640.9833984375 m 361.53515625 640.9833984375 l s q 0 0 1 rg BT 93.00 642.32 Td (Third ) Tj ET Q q 0 0 1 rg BT 117.17 642.32 Td (Amended and Restated ) Tj ET Q q 0 0 1 rg BT 211.86 642.32 Td (Articles of Incorporation of Carnival ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 93 630.9833984375 m 143.8251953125 630.9833984375 l s q 0 0 1 rg BT 93.00 632.32 Td (Corporation.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.95 632.42 Td ( 8-K) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.75 632.42 Td (3.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.40 632.42 Td (4/17/2003) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 30.00 617.42 Td (3.2) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 93 616.0833984375 m 350.1630859375 616.0833984375 l s q 0 0 1 rg BT 93.00 617.42 Td (Third ) Tj ET Q q 0 0 1 rg BT 117.17 617.42 Td (Amended and Restated By-Laws of Carnival Corporation.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.95 617.42 Td ( 8-K) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.75 617.42 Td (3.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.40 617.42 Td (4/20/2009) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 30.00 603.32 Td (3.3) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 93 601.9833984375 m 249.630859375 601.9833984375 l s q 0 0 1 rg BT 93.00 603.32 Td (Articles of ) Tj ET Q q 0 0 1 rg BT 137.43 603.32 Td (Association of Carnival plc.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.95 603.32 Td ( 8-K) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.75 603.32 Td (3.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.40 603.32 Td (4/20/2009) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 30.00 581.43 Td (Material contracts) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 30.00 567.32 Td (10.1) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 93 565.9833984375 m 351.57421875 565.9833984375 l s q 0 0 1 rg BT 93.00 567.32 Td (Form of Management Incentive Plan ) Tj ET Q q 0 0 1 rg BT 242.50 567.32 Td (T) Tj ET Q q 0 0 1 rg BT 248.26 567.32 Td (ied Restricted Stock Unit ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 93 555.9833984375 m 324.2451171875 555.9833984375 l s q 0 0 1 rg BT 93.00 557.32 Td (Agreement for the Carnival Corporation 201) Tj ET Q q 0 0 1 rg BT 271.19 557.32 Td (1 Stock Plan.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 556.35 567.32 Td (X) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 30.00 544.32 Td (10.2) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 93 542.0833984375 m 351.564453125 542.0833984375 l s q 0 0 1 rg BT 93.00 543.42 Td (Form of Management Incentive Plan ) Tj ET Q q 0 0 1 rg BT 242.50 543.42 Td (T) Tj ET Q q 0 0 1 rg BT 248.26 543.42 Td (ied Restricted Share Unit ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 93 532.0833984375 m 331.5400390625 532.0833984375 l s q 0 0 1 rg BT 93.00 533.42 Td (Agreement for the Carnival plc 2014 Employee Share Plan.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 556.35 544.32 Td (X) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 30.00 519.32 Td (10.3) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 93 517.9833984375 m 373.2001953125 517.9833984375 l s q 0 0 1 rg BT 93.00 519.32 Td (Form of Performance-Based Restricted Stock Unit ) Tj ET Q q 0 0 1 rg BT 297.40 519.32 Td (Agreement for the ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 93 507.9833984375 m 248.4443359375 507.9833984375 l s q 0 0 1 rg BT 93.00 509.32 Td (Carnival Corporation 201) Tj ET Q q 0 0 1 rg BT 195.39 509.32 Td (1 Stock Plan.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 556.35 519.32 Td (X) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 30.00 495.32 Td (10.4) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 93 493.0833984375 m 373.1904296875 493.0833984375 l s q 0 0 1 rg BT 93.00 494.42 Td (Form of Performance-Based Restricted Share Unit ) Tj ET Q q 0 0 1 rg BT 297.39 494.42 Td (Agreement for the ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 93 483.0833984375 m 255.7392578125 483.0833984375 l s q 0 0 1 rg BT 93.00 484.42 Td (Carnival plc 2014 Employee Share Plan.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 556.35 495.32 Td (X) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 30.00 456.43 Td (Statement r) Tj ET Q q 0 0 0 rg BT 80.17 456.43 Td (egarding computations of ratios) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 30.00 438.32 Td ( 12) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 93 436.9833984375 m 236.6865234375 436.9833984375 l s q 0 0 1 rg BT 93.00 438.32 Td (Ratio of Earnings to Fixed Char) Tj ET Q q 0 0 1 rg BT 220.86 438.32 Td (ges.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 556.35 438.32 Td (X) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 30.00 418.43 Td (Rule 13a-14\(a\)/15d-14\(a\) certifications) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 30.00 400.32 Td ( 31.1) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 93 398.0833984375 m 359.669921875 398.0833984375 l s q 0 0 1 rg BT 93.00 399.42 Td (Certification of President and Chief Executive Of) Tj ET Q q 0 0 1 rg BT 291.09 399.42 Td (ficer of Carnival ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 93 388.0833984375 m 380.9931640625 388.0833984375 l s q 0 0 1 rg BT 93.00 389.42 Td (Corporation pursuant to Rule 13a-14\(a\), as adopted pursuant to Section ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 93 378.0833984375 m 252.130859375 378.0833984375 l s q 0 0 1 rg BT 93.00 379.42 Td (302 of the Sarbanes-Oxley ) Tj ET Q q 0 0 1 rg BT 201.86 379.42 Td (Act of 2002.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 556.35 400.32 Td (X) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 30.00 365.32 Td ( 31.2) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 93 363.0833984375 m 384.7578125 363.0833984375 l s q 0 0 1 rg BT 93.00 364.42 Td (Certification of Chief Financial Of) Tj ET Q q 0 0 1 rg BT 231.67 364.42 Td (ficer and Chief ) Tj ET Q q 0 0 1 rg BT 293.59 364.42 Td (Accounting Of) Tj ET Q q 0 0 1 rg BT 353.11 364.42 Td (ficer of ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 93 353.0833984375 m 385.431640625 353.0833984375 l s q 0 0 1 rg BT 93.00 354.42 Td (Carnival Corporation pursuant to Rule 13a-14\(a\), as adopted pursuant to ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 93 343.0833984375 m 284.6259765625 343.0833984375 l s q 0 0 1 rg BT 93.00 344.42 Td (Section 302 of the Sarbanes-Oxley ) Tj ET Q q 0 0 1 rg BT 234.36 344.42 Td (Act of 2002.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 556.35 365.32 Td (X) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 30.00 330.32 Td ( 31.3) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 93 328.0833984375 m 374.38671875 328.0833984375 l s q 0 0 1 rg BT 93.00 329.42 Td (Certification of President and Chief Executive Of) Tj ET Q q 0 0 1 rg BT 291.09 329.42 Td (ficer of Carnival plc ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 93 318.0833984375 m 373.21484375 318.0833984375 l s q 0 0 1 rg BT 93.00 319.42 Td (pursuant to Rule 13a-14\(a\), as adopted pursuant to Section 302 of the ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 93 308.0833984375 m 209.083984375 308.0833984375 l s q 0 0 1 rg BT 93.00 309.42 Td (Sarbanes-Oxley ) Tj ET Q q 0 0 1 rg BT 158.82 309.42 Td (Act of 2002.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 556.35 330.32 Td (X) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 30.00 295.32 Td ( 31.4) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 93 293.9833984375 m 384.7578125 293.9833984375 l s q 0 0 1 rg BT 93.00 295.32 Td (Certification of Chief Financial Of) Tj ET Q q 0 0 1 rg BT 231.67 295.32 Td (ficer and Chief ) Tj ET Q q 0 0 1 rg BT 293.59 295.32 Td (Accounting Of) Tj ET Q q 0 0 1 rg BT 353.11 295.32 Td (ficer of ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 93 283.9833984375 m 381.818359375 283.9833984375 l s q 0 0 1 rg BT 93.00 285.32 Td (Carnival plc pursuant to Rule 13a-14\(a\), as adopted pursuant to Section ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 93 273.9833984375 m 252.130859375 273.9833984375 l s q 0 0 1 rg BT 93.00 275.32 Td (302 of the Sarbanes-Oxley ) Tj ET Q q 0 0 1 rg BT 201.86 275.32 Td (Act of 2002.) 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Section 1350, as adopted pursuant to ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 93 216.08339843750002 m 284.6259765625 216.08339843750002 l s q 0 0 1 rg BT 93.00 217.42 Td (Section 906 of the Sarbanes-Oxley ) Tj ET Q q 0 0 1 rg BT 234.36 217.42 Td (Act of 2002.) 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Section 1350, as adopted pursuant to Section 906 of ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 93 146.08339843750002 m 223.80078125 146.08339843750002 l s q 0 0 1 rg BT 93.00 147.42 Td (the Sarbanes-Oxley ) Tj ET Q q 0 0 1 rg BT 173.53 147.42 Td (Act of 2002.) 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0 j 3 M 536.5 643.75 m 596.5 643.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472.5 643.75 m 532.5 643.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472.5 615.75 m 532.5 615.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 536.5 615.75 m 596.5 615.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472.5 615.75 m 532.5 615.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472.5 601.75 m 532.5 601.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 536.5 615.75 m 596.5 615.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 536.5 601.75 m 596.5 601.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472.5 544.75 m 532.5 544.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472.5 544.75 m 532.5 544.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472.5 530.75 m 532.5 530.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 536.5 544.75 m 596.5 544.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 536.5 530.75 m 596.5 530.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472.5 502.75 m 532.5 502.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472.5 489.75 m 532.5 489.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472.5 487.75 m 532.5 487.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 536.5 502.75 m 596.5 502.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 536.5 489.75 m 596.5 489.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 536.5 487.75 m 596.5 487.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472.5 487.75 m 532.5 487.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472.5 489.75 m 532.5 489.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472.5 475.75 m 532.5 475.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472.5 473.75 m 532.5 473.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 536.5 487.75 m 596.5 487.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 536.5 489.75 m 596.5 489.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 536.5 475.75 m 596.5 475.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 536.5 473.75 m 596.5 473.75 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 488.50 674.48 Td (Thr) Tj ET Q q 0 0 0 rg BT 505.08 674.48 Td (ee Months Ended) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 506.20 662.43 Td (February 28,) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 40.00 648.31 Td (\(in millions, except ratios\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 492.00 648.43 Td (2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 556.00 648.43 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 40.00 634.32 Td (Net income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.00 634.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.65 634.32 Td (391) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.00 634.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 577.65 634.32 Td (352) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 40.00 620.32 Td (Income tax expense, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.65 620.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 587.65 620.32 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 40.00 606.32 Td (Income before income taxes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.65 606.32 Td (390) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 577.65 606.32 Td (354) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 40.00 592.32 Td (Fixed char) Tj ET Q q 0 0 0 rg BT 82.40 592.32 Td (ges) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 40.00 578.32 Td ( Interest expense, net of capitalized interest) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.65 578.32 Td (48) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 582.65 578.32 Td (51) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 40.00 563.42 Td ( Interest portion of rent expense \(a\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.65 563.42 Td (5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 587.65 563.42 Td (5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 40.00 549.32 Td ( Capitalized interest) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.65 549.32 Td (8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 587.65 549.32 Td (6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 40.00 535.32 Td (T) Tj ET Q q 0 0 0 rg BT 45.76 535.32 Td (otal fixed char) Tj ET Q q 0 0 0 rg BT 103.07 535.32 Td (ges) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.65 535.32 Td (61) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 582.65 535.32 Td (62) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 40.00 521.32 Td (Fixed char) Tj ET Q q 0 0 0 rg BT 82.40 521.32 Td (ges not af) Tj ET Q q 0 0 0 rg BT 121.09 521.32 Td (fecting earnings) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 40.00 507.32 Td ( Capitalized interest) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.30 507.37 Td (\(8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.65 507.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 584.30 507.32 Td (\(6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 592.65 507.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 40.00 493.32 Td (Earnings before fixed char) Tj ET Q q 0 0 0 rg BT 146.25 493.32 Td (ges) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.00 493.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.65 493.32 Td (443) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.00 493.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 577.65 493.32 Td (410) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 40.00 479.32 Td (Ratio of earnings to fixed char) Tj ET Q q 0 0 0 rg BT 161.72 479.32 Td (ges) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.15 479.32 Td (7.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 580.15 479.32 Td (6.6) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 451.25 Td (\(a\) ) Tj ET Q q 0 0 0 rg BT 81.50 451.25 Td (Represents one-third of rent expense, which we believe to be representative of the interest portion of rent expense.) Tj ET Q endstream endobj 69 0 obj <> endobj 70 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 533.30 740.25 Td (Exhibit 31.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 702.45 Td (I, ) Tj ET Q q 0 0 0 rg BT 34.78 702.45 Td (Arnold ) Tj ET Q q 0 0 0 rg BT 65.43 702.45 Td (W) Tj ET Q q 0 0 0 rg BT 73.95 702.45 Td (. Donald, certify that:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 679.05 Td (1. I have reviewed this quarterly report on Form 10-Q of Carnival Corporation;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 655.65 Td (2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 641.25 Td (make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 626.85 Td (covered by this report;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 603.45 Td (3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 589.05 Td (respects the financial condition, results of operations and cash flows of the registrant as of, and for) Tj ET Q q 0 0 0 rg BT 420.37 589.05 Td (, the periods presented in this report;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 565.65 Td (4. ) Tj ET Q q 0 0 0 rg BT 36.82 565.65 Td (The registrant) Tj ET Q q 0 0 0 rg BT 95.41 565.65 Td (s other certifying of) Tj ET Q q 0 0 0 rg BT 174.37 565.65 Td (ficer and I are responsible for establishing and maintaining disclosure controls and procedures \(as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 551.25 Td (defined in Exchange ) Tj ET Q q 0 0 0 rg BT 111.14 551.25 Td (Act Rules 13a-15\(e\) and 15d-15\(e\)\) and internal control over financial reporting \(as defined in Exchange ) Tj ET Q q 0 0 0 rg BT 532.92 551.25 Td (Act Rules ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 536.85 Td (13a-15\(f\) and 15d15\(f\)\) for the registrant and have:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 513.45 Td (\(a\) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 499.05 Td (supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 484.65 Td (others within those entities, particularly during the period in which this report is being prepared;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 461.25 Td (\(b\) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 446.85 Td (our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 432.45 Td (for external purposes in accordance with generally accepted accounting principles;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 409.05 Td (\(c\) Evaluated the ef) Tj ET Q q 0 0 0 rg BT 105.38 409.05 Td (fectiveness of the registrant) Tj ET Q q 0 0 0 rg BT 218.40 409.05 Td (s disclosure controls and procedures and presented in this report our conclusions about the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 394.65 Td (ef) Tj ET Q q 0 0 0 rg BT 34.59 394.65 Td (fectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 371.25 Td (\(d\) Disclosed in this report any change in the registrant) Tj ET Q q 0 0 0 rg BT 249.99 371.25 Td (s internal control over financial reporting that occurred during the registrant) Tj ET Q q 0 0 0 rg BT 555.99 371.25 Td (s most ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 356.85 Td (recent fiscal quarter \(the registrant) Tj ET Q q 0 0 0 rg BT 167.48 356.85 Td (s fourth fiscal quarter in the case of an annual report\) that has materially af) Tj ET Q q 0 0 0 rg BT 466.07 356.85 Td (fected, or is reasonably likely ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 342.45 Td (to materially af) Tj ET Q q 0 0 0 rg BT 87.90 342.45 Td (fect, the registrant) Tj ET Q q 0 0 0 rg BT 163.15 342.45 Td (s internal control over financial reporting; and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 319.05 Td (5. ) Tj ET Q q 0 0 0 rg BT 36.82 319.05 Td (The registrant) Tj ET Q q 0 0 0 rg BT 95.41 319.05 Td (s other certifying of) Tj ET Q q 0 0 0 rg BT 174.37 319.05 Td (ficer and I have disclosed, based on our most recent evaluation of internal control over financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 304.65 Td (reporting, to the registrant) Tj ET Q q 0 0 0 rg BT 134.19 304.65 Td (s auditors and the audit committee of the registrant) Tj ET Q q 0 0 0 rg BT 340.25 304.65 Td (s board of directors \(or persons performing the equivalent ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 290.25 Td (functions\):) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 266.85 Td (\(a\) ) Tj ET Q q 0 0 0 rg BT 40.05 266.85 Td (All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 252.45 Td (reasonably likely to adversely af) Tj ET Q q 0 0 0 rg BT 156.77 252.45 Td (fect the registrant) Tj ET Q q 0 0 0 rg BT 229.51 252.45 Td (s ability to record, process, summarize and report financial information; and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 229.05 Td (\(b\) ) Tj ET Q q 0 0 0 rg BT 40.61 229.05 Td (Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant) Tj ET Q q 0 0 0 rg BT 547.95 229.05 Td (s internal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 214.65 Td (control over financial reporting.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 171.45 Td (Date: ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.16 171.45 Td (March22, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.75 171.45 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 142.65 Td (By:) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 41.4482421875 141.31699218749998 m 126.453125 141.31699218749998 l s q 0 0 0 rg BT 41.45 142.65 Td (/s/ ) Tj ET Q q 0 0 0 rg BT 52.84 142.65 Td (Arnold ) Tj ET Q q 0 0 0 rg BT 83.49 142.65 Td (W) Tj ET Q q 0 0 0 rg BT 92.01 142.65 Td (. Donald) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 128.25 Td (Arnold ) Tj ET Q q 0 0 0 rg BT 57.65 128.25 Td (W) Tj ET Q q 0 0 0 rg BT 66.17 128.25 Td (. Donald) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 113.85 Td (President and Chief Executive Of) Tj ET Q q 0 0 0 rg BT 161.22 113.85 Td (ficer) Tj ET Q endstream endobj 71 0 obj <> endobj 72 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 533.30 740.25 Td (Exhibit 31.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 702.45 Td (I, David Bernstein, certify that:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 679.05 Td (1. I have reviewed this quarterly report on Form 10-Q of Carnival Corporation;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 655.65 Td (2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 641.25 Td (make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 626.85 Td (covered by this report;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 603.45 Td (3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 589.05 Td (respects the financial condition, results of operations and cash flows of the registrant as of, and for) Tj ET Q q 0 0 0 rg BT 420.37 589.05 Td (, the periods presented in this report;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 565.65 Td (4. ) Tj ET Q q 0 0 0 rg BT 36.82 565.65 Td (The registrant) Tj ET Q q 0 0 0 rg BT 95.41 565.65 Td (s other certifying of) Tj ET Q q 0 0 0 rg BT 174.37 565.65 Td (ficer and I are responsible for establishing and maintaining disclosure controls and procedures \(as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 551.25 Td (defined in Exchange ) Tj ET Q q 0 0 0 rg BT 111.14 551.25 Td (Act Rules 13a-15\(e\) and 15d-15\(e\)\) and internal control over financial reporting \(as defined in Exchange ) Tj ET Q q 0 0 0 rg BT 532.92 551.25 Td (Act Rules ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 536.85 Td (13a-15\(f\) and 15d15\(f\)\) for the registrant and have:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 513.45 Td (\(a\) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 499.05 Td (supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 484.65 Td (others within those entities, particularly during the period in which this report is being prepared;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 461.25 Td (\(b\) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 446.85 Td (our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 432.45 Td (for external purposes in accordance with generally accepted accounting principles;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 409.05 Td (\(c\) Evaluated the ef) Tj ET Q q 0 0 0 rg BT 105.38 409.05 Td (fectiveness of the registrant) Tj ET Q q 0 0 0 rg BT 218.40 409.05 Td (s disclosure controls and procedures and presented in this report our conclusions about the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 394.65 Td (ef) Tj ET Q q 0 0 0 rg BT 34.59 394.65 Td (fectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 371.25 Td (\(d\) Disclosed in this report any change in the registrant) Tj ET Q q 0 0 0 rg BT 249.99 371.25 Td (s internal control over financial reporting that occurred during the registrant) Tj ET Q q 0 0 0 rg BT 555.99 371.25 Td (s most ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 356.85 Td (recent fiscal quarter \(the registrant) Tj ET Q q 0 0 0 rg BT 167.48 356.85 Td (s fourth fiscal quarter in the case of an annual report\) that has materially af) Tj ET Q q 0 0 0 rg BT 466.07 356.85 Td (fected, or is reasonably likely ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 342.45 Td (to materially af) Tj ET Q q 0 0 0 rg BT 87.90 342.45 Td (fect, the registrant) Tj ET Q q 0 0 0 rg BT 163.15 342.45 Td (s internal control over financial reporting; and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 319.05 Td (5. ) Tj ET Q q 0 0 0 rg BT 36.82 319.05 Td (The registrant) Tj ET Q q 0 0 0 rg BT 95.41 319.05 Td (s other certifying of) Tj ET Q q 0 0 0 rg BT 174.37 319.05 Td (ficer and I have disclosed, based on our most recent evaluation of internal control over financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 304.65 Td (reporting, to the registrant) Tj ET Q q 0 0 0 rg BT 134.19 304.65 Td (s auditors and the audit committee of the registrant) Tj ET Q q 0 0 0 rg BT 340.25 304.65 Td (s board of directors \(or persons performing the equivalent ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 290.25 Td (functions\):) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 266.85 Td (\(a\) ) Tj ET Q q 0 0 0 rg BT 40.05 266.85 Td (All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 252.45 Td (reasonably likely to adversely af) Tj ET Q q 0 0 0 rg BT 156.77 252.45 Td (fect the registrant) Tj ET Q q 0 0 0 rg BT 229.51 252.45 Td (s ability to record, process, summarize and report financial information; and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 229.05 Td (\(b\) ) Tj ET Q q 0 0 0 rg BT 40.61 229.05 Td (Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant) Tj ET Q q 0 0 0 rg BT 547.95 229.05 Td (s internal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 214.65 Td (control over financial reporting.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 171.45 Td (Date: ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.16 171.45 Td (March22, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.75 171.45 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 142.65 Td (By:) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 41.4482421875 141.31699218749998 m 118.66015625 141.31699218749998 l s q 0 0 0 rg BT 41.45 142.65 Td (/s/ David Bernstein) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 128.25 Td (David Bernstein) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 113.85 Td (Chief Financial Of) Tj ET Q q 0 0 0 rg BT 101.80 113.85 Td (ficer and Chief ) Tj ET Q q 0 0 0 rg BT 163.72 113.85 Td (Accounting Of) Tj ET Q q 0 0 0 rg BT 223.25 113.85 Td (ficer) Tj ET Q endstream endobj 73 0 obj <> endobj 74 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.80 740.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 533.30 740.10 Td (Exhibit 31.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 711.30 Td (I, ) Tj ET Q q 0 0 0 rg BT 34.78 711.30 Td (Arnold ) Tj ET Q q 0 0 0 rg BT 65.43 711.30 Td (W) Tj ET Q q 0 0 0 rg BT 73.95 711.30 Td (. Donald, certify that:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 682.50 Td (1. I have reviewed this quarterly report on Form 10-Q of Carnival plc;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 653.70 Td (2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 639.30 Td (make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 624.90 Td (covered by this report;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 596.10 Td (3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 581.70 Td (respects the financial condition, results of operations and cash flows of the registrant as of, and for) Tj ET Q q 0 0 0 rg BT 420.37 581.70 Td (, the periods presented in this report;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 552.90 Td (4. ) Tj ET Q q 0 0 0 rg BT 36.82 552.90 Td (The registrant) Tj ET Q q 0 0 0 rg BT 95.41 552.90 Td (s other certifying of) Tj ET Q q 0 0 0 rg BT 174.37 552.90 Td (ficer and I are responsible for establishing and maintaining disclosure controls and procedures \(as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 538.50 Td (defined in Exchange ) Tj ET Q q 0 0 0 rg BT 111.14 538.50 Td (Act Rules 13a-15\(e\) and 15d-15\(e\)\) and internal control over financial reporting \(as defined in Exchange ) Tj ET Q q 0 0 0 rg BT 532.92 538.50 Td (Act Rules ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 524.10 Td (13a-15\(f\) and 15d-15\(f\)\) for the registrant and have:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 495.30 Td (\(a\) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 480.90 Td (supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 466.50 Td (others within those entities, particularly during the period in which this report is being prepared;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 437.70 Td (\(b\) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 423.30 Td (our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 408.90 Td (for external purposes in accordance with generally accepted accounting principles;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 380.10 Td (\(c\) Evaluated the ef) Tj ET Q q 0 0 0 rg BT 105.38 380.10 Td (fectiveness of the registrant) Tj ET Q q 0 0 0 rg BT 218.40 380.10 Td (s disclosure controls and procedures and presented in this report our conclusions about the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 365.70 Td (ef) Tj ET Q q 0 0 0 rg BT 34.59 365.70 Td (fectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 336.90 Td (\(d\) Disclosed in this report any change in the registrant) Tj ET Q q 0 0 0 rg BT 249.99 336.90 Td (s internal control over financial reporting that occurred during the registrant) Tj ET Q q 0 0 0 rg BT 555.99 336.90 Td (s most ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 322.50 Td (recent fiscal quarter \(the registrant) Tj ET Q q 0 0 0 rg BT 167.48 322.50 Td (s fourth fiscal quarter in the case of an annual report\) that has materially af) Tj ET Q q 0 0 0 rg BT 466.07 322.50 Td (fected, or is reasonably likely ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 308.10 Td (to materially af) Tj ET Q q 0 0 0 rg BT 87.90 308.10 Td (fect, the registrant) Tj ET Q q 0 0 0 rg BT 163.15 308.10 Td (s internal control over financial reporting; and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 279.30 Td (5. ) Tj ET Q q 0 0 0 rg BT 36.82 279.30 Td (The registrant) Tj ET Q q 0 0 0 rg BT 95.41 279.30 Td (s other certifying of) Tj ET Q q 0 0 0 rg BT 174.37 279.30 Td (ficer and I have disclosed, based on our most recent evaluation of internal control over financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 264.90 Td (reporting, to the registrant) Tj ET Q q 0 0 0 rg BT 134.19 264.90 Td (s auditors and the audit committee of the registrant) Tj ET Q q 0 0 0 rg BT 340.25 264.90 Td (s board of directors \(or persons performing the equivalent ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 250.50 Td (functions\):) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 221.70 Td (\(a\) ) Tj ET Q q 0 0 0 rg BT 40.05 221.70 Td (All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 207.30 Td (reasonably likely to adversely af) Tj ET Q q 0 0 0 rg BT 156.77 207.30 Td (fect the registrant) Tj ET Q q 0 0 0 rg BT 229.51 207.30 Td (s ability to record, process, summarize and report financial information; and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 178.50 Td (\(b\) ) Tj ET Q q 0 0 0 rg BT 40.61 178.50 Td (Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant) Tj ET Q q 0 0 0 rg BT 547.95 178.50 Td (s internal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 164.10 Td (control over financial reporting.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 120.90 Td (Date: ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.16 120.90 Td (March22, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.75 120.90 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 92.10 Td (By:) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 41.4482421875 90.76699218750002 m 126.453125 90.76699218750002 l s q 0 0 0 rg BT 41.45 92.10 Td (/s/ ) Tj ET Q q 0 0 0 rg BT 52.84 92.10 Td (Arnold ) Tj ET Q q 0 0 0 rg BT 83.49 92.10 Td (W) Tj ET Q q 0 0 0 rg BT 92.01 92.10 Td (. Donald) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 77.70 Td (Arnold ) Tj ET Q q 0 0 0 rg BT 57.65 77.70 Td (W) Tj ET Q q 0 0 0 rg BT 66.17 77.70 Td (. Donald) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 63.30 Td (President and Chief Executive Of) Tj ET Q q 0 0 0 rg BT 161.22 63.30 Td (ficer) Tj ET Q endstream endobj 75 0 obj <> endobj 76 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 533.30 740.25 Td (Exhibit 31.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 711.45 Td (I, David Bernstein, certify that:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 682.65 Td (1. I have reviewed this quarterly report on Form 10-Q of Carnival plc;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 653.85 Td (2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 639.45 Td (make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 625.05 Td (covered by this report;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 596.25 Td (3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 581.85 Td (respects the financial condition, results of operations and cash flows of the registrant as of, and for) Tj ET Q q 0 0 0 rg BT 420.37 581.85 Td (, the periods presented in this report;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 553.05 Td (4. ) Tj ET Q q 0 0 0 rg BT 36.82 553.05 Td (The registrant) Tj ET Q q 0 0 0 rg BT 95.41 553.05 Td (s other certifying of) Tj ET Q q 0 0 0 rg BT 174.37 553.05 Td (ficer and I are responsible for establishing and maintaining disclosure controls and procedures \(as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 538.65 Td (defined in Exchange ) Tj ET Q q 0 0 0 rg BT 111.14 538.65 Td (Act Rules 13a-15\(e\) and 15d-15\(e\)\) and internal control over financial reporting \(as defined in Exchange ) Tj ET Q q 0 0 0 rg BT 532.92 538.65 Td (Act Rules ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 524.25 Td (13a-15\(f\) and 15d-15\(f\)\) for the registrant and have:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 495.45 Td (\(a\) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 481.05 Td (supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 466.65 Td (others within those entities, particularly during the period in which this report is being prepared;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 437.85 Td (\(b\) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 423.45 Td (our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 409.05 Td (for external purposes in accordance with generally accepted accounting principles;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 380.25 Td (\(c\) Evaluated the ef) Tj ET Q q 0 0 0 rg BT 105.38 380.25 Td (fectiveness of the registrant) Tj ET Q q 0 0 0 rg BT 218.40 380.25 Td (s disclosure controls and procedures and presented in this report our conclusions about the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 365.85 Td (ef) Tj ET Q q 0 0 0 rg BT 34.59 365.85 Td (fectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 337.05 Td (\(d\) Disclosed in this report any change in the registrant) Tj ET Q q 0 0 0 rg BT 249.99 337.05 Td (s internal control over financial reporting that occurred during the registrant) Tj ET Q q 0 0 0 rg BT 555.99 337.05 Td (s most ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 322.65 Td (recent fiscal quarter \(the registrant) Tj ET Q q 0 0 0 rg BT 167.48 322.65 Td (s fourth fiscal quarter in the case of an annual report\) that has materially af) Tj ET Q q 0 0 0 rg BT 466.07 322.65 Td (fected, or is reasonably likely ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 308.25 Td (to materially af) Tj ET Q q 0 0 0 rg BT 87.90 308.25 Td (fect, the registrant) Tj ET Q q 0 0 0 rg BT 163.15 308.25 Td (s internal control over financial reporting; and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 279.45 Td (5. ) Tj ET Q q 0 0 0 rg BT 36.82 279.45 Td (The registrant) Tj ET Q q 0 0 0 rg BT 95.41 279.45 Td (s other certifying of) Tj ET Q q 0 0 0 rg BT 174.37 279.45 Td (ficer and I have disclosed, based on our most recent evaluation of internal control over financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 265.05 Td (reporting, to the registrant) Tj ET Q q 0 0 0 rg BT 134.19 265.05 Td (s auditors and the audit committee of the registrant) Tj ET Q q 0 0 0 rg BT 340.25 265.05 Td (s board of directors \(or persons performing the equivalent ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 250.65 Td (functions\):) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 221.85 Td (\(a\) ) Tj ET Q q 0 0 0 rg BT 40.05 221.85 Td (All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 207.45 Td (reasonably likely to adversely af) Tj ET Q q 0 0 0 rg BT 156.77 207.45 Td (fect the registrant) Tj ET Q q 0 0 0 rg BT 229.51 207.45 Td (s ability to record, process, summarize and report financial information; and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 178.65 Td (\(b\) ) Tj ET Q q 0 0 0 rg BT 40.61 178.65 Td (Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant) Tj ET Q q 0 0 0 rg BT 547.95 178.65 Td (s internal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 164.25 Td (control over financial reporting.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 121.05 Td (Date: ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.16 121.05 Td (March22, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.75 121.05 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 92.25 Td (By:) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 41.4482421875 90.9169921875 m 118.66015625 90.9169921875 l s q 0 0 0 rg BT 41.45 92.25 Td (/s/ David Bernstein) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 77.85 Td (David Bernstein) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 63.45 Td (Chief Financial Of) Tj ET Q q 0 0 0 rg BT 101.80 63.45 Td (ficer and Chief ) Tj ET Q q 0 0 0 rg BT 163.72 63.45 Td (Accounting Of) Tj ET Q q 0 0 0 rg BT 223.25 63.45 Td (ficer) Tj ET Q endstream endobj 77 0 obj <> endobj 78 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 533.30 740.25 Td (Exhibit 32.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 711.45 Td (In connection with the Quarterly Report on Form 10-Q for the quarter ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.52 711.45 Td (February28, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.12 711.45 Td ( as filed by Carnival Corporation with the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 697.05 Td (Securities and Exchange Commission on the date hereof \(the Report\), I certify pursuant to 18 U.S.C. Section1350, as adopted pursuant ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 682.65 Td (to Section906 of the Sarbanes-Oxley ) Tj ET Q q 0 0 0 rg BT 178.64 682.65 Td (Act of 2002, that:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 659.25 Td (\(1\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 659.25 Td (The Report fully complies with the requirements of Section13\(a\) or 15\(d\) of the Securities Exchange ) Tj ET Q q 0 0 0 rg BT 453.22 659.25 Td (Act of 1934; and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 635.85 Td (\(2\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 635.85 Td (The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 621.45 Td (Carnival Corporation.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 598.05 Td (Date: ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.16 598.05 Td (March22, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.75 598.05 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 569.25 Td (By:) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 41.4482421875 567.9169921875 m 126.453125 567.9169921875 l s q 0 0 0 rg BT 41.45 569.25 Td (/s/ ) Tj ET Q q 0 0 0 rg BT 52.84 569.25 Td (Arnold ) Tj ET Q q 0 0 0 rg BT 83.49 569.25 Td (W) Tj ET Q q 0 0 0 rg BT 92.01 569.25 Td (. Donald) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 554.85 Td (Arnold ) Tj ET Q q 0 0 0 rg BT 57.65 554.85 Td (W) Tj ET Q q 0 0 0 rg BT 66.17 554.85 Td (. Donald) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 540.45 Td (President and Chief Executive Of) Tj ET Q q 0 0 0 rg BT 161.22 540.45 Td (ficer) Tj ET Q endstream endobj 79 0 obj <> endobj 80 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 533.30 740.25 Td (Exhibit 32.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 711.45 Td (In connection with the Quarterly Report on Form 10-Q for the quarter ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.52 711.45 Td (February28, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.12 711.45 Td ( as filed by Carnival Corporation with the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 697.05 Td (Securities and Exchange Commission on the date hereof \(the Report\), I certify pursuant to 18 U.S.C. Section1350, as adopted pursuant ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 682.65 Td (to Section906 of the Sarbanes-Oxley ) Tj ET Q q 0 0 0 rg BT 178.64 682.65 Td (Act of 2002, that:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 659.25 Td (\(1\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 659.25 Td (The Report fully complies with the requirements of Section13\(a\) or 15\(d\) of the Securities Exchange ) Tj ET Q q 0 0 0 rg BT 453.22 659.25 Td (Act of 1934; and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 635.85 Td (\(2\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 635.85 Td (The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 621.45 Td (Carnival Corporation.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 598.05 Td (Date: ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.16 598.05 Td (March22, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.75 598.05 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 569.25 Td (By:) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 41.4482421875 567.9169921875 m 118.66015625 567.9169921875 l s q 0 0 0 rg BT 41.45 569.25 Td (/s/ David Bernstein) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.66 569.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 554.85 Td (David Bernstein) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 540.45 Td (Chief Financial Of) Tj ET Q q 0 0 0 rg BT 101.80 540.45 Td (ficer and Chief ) Tj ET Q q 0 0 0 rg BT 163.72 540.45 Td (Accounting Of) Tj ET Q q 0 0 0 rg BT 223.25 540.45 Td (ficer) Tj ET Q endstream endobj 81 0 obj <> endobj 82 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 533.30 740.25 Td (Exhibit 32.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 711.45 Td (In connection with the Quarterly Report on Form 10-Q for the quarter ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.52 711.45 Td (February28, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.12 711.45 Td ( as filed by Carnival plc with the Securities ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 697.05 Td (and Exchange Commission on the date hereof \(the Report\), I certify pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 682.65 Td (906 of the Sarbanes-Oxley ) Tj ET Q q 0 0 0 rg BT 135.86 682.65 Td (Act of 2002, that:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 659.25 Td (\(1\) ) Tj ET Q q 0 0 0 rg BT 43.48 659.25 Td (The Report fully complies with the requirements of Section 13\(a\) or 15\(d\) of the Securities Exchange ) Tj ET Q q 0 0 0 rg BT 451.70 659.25 Td (Act of 1934; and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 635.85 Td (\(2\) ) Tj ET Q q 0 0 0 rg BT 43.48 635.85 Td (The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 621.45 Td (Carnival plc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 598.05 Td (Date: ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.16 598.05 Td (March22, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.75 598.05 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 569.25 Td (By:) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 41.4482421875 567.9169921875 m 126.453125 567.9169921875 l s q 0 0 0 rg BT 41.45 569.25 Td (/s/ ) Tj ET Q q 0 0 0 rg BT 52.84 569.25 Td (Arnold ) Tj ET Q q 0 0 0 rg BT 83.49 569.25 Td (W) Tj ET Q q 0 0 0 rg BT 92.01 569.25 Td (. Donald) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 126.45 569.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 554.85 Td (Arnold ) Tj ET Q q 0 0 0 rg BT 57.65 554.85 Td (W) Tj ET Q q 0 0 0 rg BT 66.17 554.85 Td (. Donald) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 540.45 Td (President and Chief Executive Of) Tj ET Q q 0 0 0 rg BT 161.22 540.45 Td (ficer) Tj ET Q endstream endobj 83 0 obj <> endobj 84 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 533.30 740.25 Td (Exhibit 32.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 711.45 Td (In connection with the Quarterly Report on Form 10-Q for the quarter ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.52 711.45 Td (February28, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.12 711.45 Td ( as filed by Carnival plc with the Securities ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 697.05 Td (and Exchange Commission on the date hereof \(the Report\), I certify pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 682.65 Td (906 of the Sarbanes-Oxley ) Tj ET Q q 0 0 0 rg BT 135.86 682.65 Td (Act of 2002, that:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 659.25 Td (\(1\) ) Tj ET Q q 0 0 0 rg BT 43.48 659.25 Td (The Report fully complies with the requirements of Section 13\(a\) or 15\(d\) of the Securities Exchange ) Tj ET Q q 0 0 0 rg BT 451.70 659.25 Td (Act of 1934; and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 635.85 Td (\(2\) ) Tj ET Q q 0 0 0 rg BT 43.48 635.85 Td (The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 621.45 Td (Carnival plc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 598.05 Td (Date: ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.16 598.05 Td (March22, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.75 598.05 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 569.25 Td (By:) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 41.4482421875 567.9169921875 m 118.66015625 567.9169921875 l s q 0 0 0 rg BT 41.45 569.25 Td (/s/ David Bernstein) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 554.85 Td (David Bernstein) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 540.45 Td (Chief Financial Of) Tj ET Q q 0 0 0 rg BT 101.80 540.45 Td (ficer and Chief ) Tj ET Q q 0 0 0 rg BT 163.72 540.45 Td (Accounting Of) Tj ET Q q 0 0 0 rg BT 223.25 540.45 Td (ficer) Tj ET Q endstream endobj 85 0 obj <> /View <>>>>> endobj 86 0 obj <> /View <>>>>> endobj 87 0 obj <> endobj 88 0 obj <> stream xy\E7~n{{w'd'52 HaGPPA!"" b-&h,+TLy?:uk?uΩoH""?W~.Xv3&rm 2\jMgwm'CڴzlycǏ\ rBjx\DsV@{twocmC{Iwl11z:1m!t-\q3D.:yz'Wɨp[_F=>E"ǢӦ/|K&_~=!wn-az3¦h$7,ؑ2Oo_eSFLlk}Fg[F>|;