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GuruFocus has detected 4 Warning Signs with Carnival Corp $CCL.
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Carnival Corp (NYSE:CCL)
Cash Flow from Operations
$5,134 Mil (TTM As of Nov. 2016)

Cash flow from operations refers to the cash brought in through a company’'s normal business operations. It is the cash flow before any investment or financing activities. It is the cash version of net income.

For the three months ended in Nov. 2016, Carnival Corp's Net Income From Continuing Operations was $608 Mil. Its DDA was $435 Mil. Its Change In Working Capital was $-4 Mil. Its cash flow from deferred tax was $0 Mil. Its Cash Flow from Discontinued Operations was $0 Mil. Its Stock Based Compensation was $15 Mil. And its Cash Flow from Others was $-30 Mil. In all, Carnival Corp's Cash Flow from Operations for the three months ended in Nov. 2016 was $1,024 Mil.


Definition

Cash flow from operations refers to the cash brought in through a company’'s normal business operations. It is the cash flow before any investment or financing activities. It is the cash version of net income.

Carnival Corp's Cash Flow from Operations for the fiscal year that ended in Nov. 2016 is calculated as:

Carnival Corp's Cash Flow from Operations for the quarter that ended in Nov. 2016 is

Carnival Corp Cash Flow from Operations for the trailing twelve months (TTM) ended in Nov. 2016 was 798 (Feb. 2016 ) + 1883 (May. 2016 ) + 1429 (Aug. 2016 ) + 1024 (Nov. 2016 ) = $5,134 Mil.

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.


Explanation

Cash flow from operations contains six items:

1. Net Income From Continuing Operations:
Net Income From Continuing Operations indicates the net income that a firm brings in from ongoing business activities. These activities are expected to continue into the next reporting period. It excludes extraordinary items, income from the cumulative effects of accounting changes, non-recurring items, income from tax loss carry forward, and preferred dividends.

Carnival Corp's net income from continuing operations for the three months ended in Nov. 2016 was $608 Mil.

2. Depreciation, Depletion and Amortization:
Depreciation is a present expense that accounts for the past cost of an asset that is now providing benefits.
Depletion and amortization are synonyms for depreciation.
Generally:
• The term “depreciation” is used when discussing man made tangible assets
• The term “depletion” is used when discussing natural tangible assets
• The term “amortization” is used when discussing intangible assets

Carnival Corp's depreciation, depletion and amortization for the three months ended in Nov. 2016 was $435 Mil.

3. Change In Working Capital:
Working Capital is a measure of a company's short term liquidity or its ability to cover short term liabilities. It is defined as the difference between a company's current assets and current liabilities. Changes in Working Capital is reported in the cash flow statement since it is one of the major ways in which net income can differ from operating cash flow.

Carnival Corp's change in working capital for the three months ended in Nov. 2016 was $-4 Mil. It means Carnival Corp's working capital declined by $4 Mil from Aug. 2016 to Nov. 2016 .

4. Deferred Tax:
It is the cash flow generated from deferred tax.

Carnival Corp's cash flow from deferred tax for the three months ended in Nov. 2016 was $0 Mil.

5. Cash Flow from Discontinued Operations:
Cash received by a company that comes from the sale of part of business.

Carnival Corp's cash flow from discontinued operations for the three months ended in Nov. 2016 was $0 Mil.

6. Stock Based Compensation:
It is a way corporations use stock options to reward employees. It provides executives and employees the opportunity to share in the growth of the company and, if structured properly, can align their interests with the interests of the company's shareholders and investors, without burning the company's cash on hand.

Carnival Corp's stock based compensation for the three months ended in Nov. 2016 was $15 Mil.

7. Cash Flow from Others:
These are cash differences caused by the change of inventory, accounts payable, accounts receivable etc. For instance, if a company pays its suppliers slower, its cash position will build up faster. If a company receives payments from its customers slower, its account receivables will rise, and its cash position will grow more slowly (or even shrink).

Carnival Corp's cash flow from others for the three months ended in Nov. 2016 was $-30 Mil.


Related Terms

Net Income From Continuing Operations, Depreciation, Depletion and Amortization, Change In Working Capital, Cash Flow from Discontinued Operations, Stock Based Compensation, Cash Flow from Others, Cash Flow from Investing


Historical Data

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.

Carnival Corp Annual Data

Nov07Nov08Nov09Nov10Nov11Nov12Nov13Nov14Nov15Nov16
NetIncomeFromContinuingOperations 2,4082,3301,7901,9781,9121,2981,0551,2161,7572,779
CF_DDA 1,1011,2491,3091,4161,5221,5271,5901,6371,6261,738
ChangeInWorkingCapital 470-201156396238-106-42217499444
CF_DeferredTax 0000000000
Cash Flow from Disc. Op. 0000000000
Stock Based Compensation 64505043463942525555
Cash Flow from Others 26-3737-1548241189308608118
Cash Flow from Operations 4,0693,3913,3423,8183,7662,9992,8343,4304,5455,134

Carnival Corp Quarterly Data

Nov14Feb15May15Aug15Nov15Feb16May16Aug16Nov16Feb17
NetIncomeFromContinuingOperations -103492221,2162701426051,424608352
CF_DDA 408401406399420423438442435439
ChangeInWorkingCapital 8137853-55160-28986-510-40
CF_DeferredTax 0000000000
Cash Flow from Disc. Op. 0000000000
Stock Based Compensation 1511141317161212150
Cash Flow from Others 30917320204211245-15861-300
Cash Flow from Operations 6377711,5151,2819787981,8831,4291,0240
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