For the year ending 2025-12-31, RCL had $437,000K increase in cash & cash equivalents over the period. $1,236,000K in free cash flow.
| Cash Flow | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Net income | 4,291,000 | 2,896,000 | 1,704,000 | -2,155,962 |
| Depreciation and amortization | 1,718,000 | 1,600,000 | 1,455,000 | 1,406,689 |
| Impairment and credit losses | - | - | - | 562 |
| Net deferred income tax expense (benefit) | 18,000 | 0 | -8,000 | -21,576 |
| Loss (gain) on derivative instruments not designated as hedges | - | - | - | -99,985 |
| (gain) loss on derivative instruments not designated as hedges | 49,000 | -77,000 | 19,000 | - |
| Share-based compensation expense | 175,000 | 267,000 | 126,000 | 36,116 |
| Equity investment income | 414,000 | 260,000 | 200,000 | 56,695 |
| Amortization of debt issuance costs | - | - | - | 148,790 |
| Amortization of debt discounts and premiums | - | - | - | 13,978 |
| Amortization of debt issuance costs, discounts and premiums | 97,000 | 98,000 | 109,000 | - |
| Loss on extinguishment of debt | - | - | -121,000 | -93,810 |
| Currency translation adjustment losses | - | - | - | 0 |
| Change in fair value of contingent consideration | - | - | - | 0 |
| Loss on extinguishment of debt and inducement expense | -16,000 | -463,000 | - | - |
| (increase) decrease in trade and other receivables | 3,000 | -52,000 | -99,000 | 234,348 |
| Increase in inventories, net | 0 | 17,000 | 24,000 | 73,792 |
| Increase in prepaid expenses and other assets | 100,000 | 137,000 | 184,000 | 153,196 |
| Increase in accounts payable | 27,000 | 120,000 | 124,000 | 74,657 |
| Increase (decrease) in accrued interest | - | - | - | 136,855 |
| Increase (decrease) in accrued expenses and other liabilities | - | - | - | 215,981 |
| Increase in accrued expenses and other liabilities | 216,000 | 0 | 13,000 | - |
| Increase in customer deposits | 243,000 | 186,000 | 1,143,000 | 1,007,129 |
| Dividends received from unconsolidated affiliates | 264,000 | - | - | - |
| Other, net | 34,000 | 80,000 | -18,000 | 57,126 |
| Net cash provided by operating activities | 6,465,000 | 5,265,000 | 4,477,000 | 481,857 |
| Purchases of property and equipment | 5,229,000 | 3,268,000 | 3,897,000 | 2,710,063 |
| Cash received on settlement of derivative financial instruments | 200,000 | 14,000 | 35,000 | 52,550 |
| Cash paid on settlement of derivative financial instruments | 24,000 | 130,000 | 86,000 | 355,909 |
| Investments in and loans to unconsolidated affiliates | 106,000 | 67,000 | 31,000 | 0 |
| Cash received on loans to unconsolidated affiliates | 126,000 | 18,000 | 40,000 | 18,650 |
| Proceeds from the sale of property and equipment and other assets | - | - | 13,000 | 421 |
| Other, net | -21,000 | 13,000 | -3,000 | -6,585 |
| Net cash used in investing activities | -5,012,000 | -3,446,000 | -3,923,000 | -2,987,766 |
| Debt proceeds | 4,671,000 | 10,318,000 | 7,641,000 | 9,787,166 |
| Debt issuance costs | 118,000 | 133,000 | 194,000 | 251,888 |
| Repayments of debt | 3,534,000 | 11,651,000 | 9,566,000 | 7,728,568 |
| Premium on repayment of debt | 2,000 | 292,000 | 80,000 | 49,367 |
| Proceeds from issuance of commercial paper notes | - | - | - | 0 |
| Repayments of commercial paper notes | - | - | 0 | 0 |
| Repurchase of common stock | 1,159,000 | - | - | - |
| Dividends paid | 824,000 | 107,000 | - | 0 |
| Proceeds from common stock issuances | - | - | 0 | 0 |
| Proceeds from sale of noncontrolling interest | 0 | 0 | 209,000 | - |
| Other, net | -52,000 | -57,000 | -3,000 | -16,370 |
| Net cash used in financing activities | -1,018,000 | -1,922,000 | -1,993,000 | 1,740,973 |
| Effect of exchange rate changes on cash and cash equivalents | 2,000 | -6,000 | 1,000 | -1,829 |
| Net increase (decrease) in cash and cash equivalents | 437,000 | -109,000 | -1,438,000 | -766,765 |
| Cash and cash equivalents at beginning of period | 388,000 | 497,000 | 1,935,000 | 2,701,770 |
| Cash and cash equivalents at end of period | 825,000 | 388,000 | 497,000 | 1,935,005 |
ROYAL CARIBBEAN CRUISES LTD (RCL)
ROYAL CARIBBEAN CRUISES LTD (RCL)