P&O PRINCESS CRUISES PLC

CIK:0001125259|SEC Filings

CONSOLIDATED STATEMENTS OF INCOME (LOSS) (UNAUDITED) - USD ($) $ in Millions	3 Months Ended
	Feb. 28, 2026	Feb. 28, 2025
Revenues [Abstract]
Total Revenues	$ 6,165	$ 5,810
Cruise and tour operating expenses:
Commissions, transportation and other	872	850
Onboard and other	618	599
Payroll and related	684	640
Fuel	397	465
Food	382	354
Other operating	986	858
Total Cruise and tour operating expenses	3,939	3,766
Selling and administrative expense	924	848
Depreciation and amortization expense	696	654
Operating Income	607	543
Interest income	12	7
Interest expense, net of capitalized interest	(291)	(377)
Debt extinguishment and modification costs	0	(252)
Other income (expense), net	(47)	12
Income (Loss) Before Income Taxes	280	(68)
Income tax expense, net	(17)	(7)
Net Income (Loss)	263	(75)
Less: net income attributable to noncontrolling interest	4	4
Net Income (Loss) attributable to Carnival Corporation & plc	$ 258	$ (78)
Earnings Per Share
Basic (in dollars per share)	$ 0.19	$ (0.06)
Diluted (in dollars per share)	$ 0.19	$ (0.06)
Passenger ticket
Revenues [Abstract]
Total Revenues	$ 4,023	$ 3,832
Onboard and other
Revenues [Abstract]
Total Revenues	$ 2,142	$ 1,978

CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Millions	3 Months Ended
	Feb. 28, 2026	Feb. 28, 2025
OPERATING ACTIVITIES
Net income (loss)	$ 263	$ (75)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Depreciation and amortization	696	654
Loss on debt extinguishment	0	249
Share-based compensation	28	18
Amortization of discounts and debt issue costs	27	30
Non-cash lease expense	42	37
Greenhouse gas regulatory expense	15	6
Other	72	24
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities	1,142	944
Changes in operating assets and liabilities
Receivables	17	33
Inventories	(3)	(17)
Prepaid expenses and other assets	(149)	(64)
Accounts payable	(33)	(31)
Accrued liabilities and other	(296)	(443)
Customer deposits	585	503
Net cash provided by operating activities	1,263	925
INVESTING ACTIVITIES
Purchases of property and equipment	(566)	(607)
Proceeds from sales of ships and other property and equipment	3	11
Advances to affiliates	(37)	(9)
Other	3	0
Net cash used in investing activities	(597)	(605)
FINANCING ACTIVITIES
Principal repayments of long-term debt	(945)	(3,448)
Debt issuance costs	(4)	(24)
Debt extinguishment costs	0	(197)
Proceeds from issuance of long-term debt	0	2,980
Dividends paid	(208)	0
Other	(9)	(1)
Net cash used in financing activities	(1,166)	(690)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(2)	(6)
Net increase (decrease) in cash, cash equivalents and restricted cash	(501)	(376)
Cash, cash equivalents and restricted cash at beginning of period	1,958	1,231
Cash, cash equivalents and restricted cash at end of period	$ 1,457	$ 856

CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Millions	Feb. 28, 2026	Nov. 30, 2025
Current Assets
Cash and cash equivalents	$ 1,424	$ 1,928
Trade and other receivables, net	663	678
Inventories	510	505
Prepaid expenses and other	1,120	1,108
Total current assets	3,716	4,219
Property and Equipment, Net	43,700	43,494
Operating Lease Right-of-Use Assets, Net	1,295	1,328
Goodwill	579	579
Other Intangibles	1,181	1,177
Other Assets	1,095	890
Total assets	51,567	51,687
Current Liabilities
Current portion of long-term debt	1,502	2,603
Current portion of operating lease liabilities	171	175
Accounts payable	1,242	1,245
Accrued liabilities and other	2,034	2,239
Customer deposits	7,472	6,831
Total current liabilities	12,420	13,092
Long-Term Debt	23,788	24,037
Long-Term Operating Lease Liabilities	1,146	1,178
Other Long-Term Liabilities	1,164	1,097
Contingencies and Commitments
Shareholders’ Equity
Additional paid-in capital	17,871	17,253
Retained earnings	4,733	4,817
Accumulated other comprehensive income (loss) (“AOCI”)	(1,738)	(1,810)
Treasury stock, 128 shares at 2026 and 131 shares at 2025 of Carnival Corporation and 71 shares at 2026 and 72 shares at 2025 of Carnival plc, at cost	(8,210)	(8,364)
Total shareholders’ equity attributable to Carnival Corporation & plc	13,031	12,270
Noncontrolling interest	18	14
Total shareholders’ equity	13,049	12,284
Total liabilities and shareholders' equity	51,567	51,687
Common Stock
Shareholders’ Equity
Common stock	14	13
Ordinary Shares
Shareholders’ Equity
Common stock	$ 361	$ 361