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Carnival Corp (NYSE:CCL)
Cash Flow from Operations
$3,268 Mil (TTM As of Aug. 2014)

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 Aug. 2014, Carnival Corp's Net Income From Continuing Operations was $1,247 Mil. Its DDA was $413 Mil. Its Change In Working Capital was $-550 Mil. Its cash flow from deferred tax was $0 Mil. Its Cash Flow from Discontinued Operations was $0 Mil. And its Cash Flow from Others was $10 Mil. In all, Carnival Corp's Cash Flow from Operations for the three months ended in Aug. 2014 was $1,120 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. 2013 is calculated as:

Carnival Corp's Cash Flow from Operations for the quarter that ended in Aug. 2014 is

Carnival Corp Cash Flow from Operations for the trailing twelve months (TTM) ended in Aug. 2014 was 475 (Nov. 2013 ) + 477 (Feb. 2014 ) + 1196 (May. 2014 ) + 1120 (Aug. 2014 ) = $3,268 Mil.

* All numbers are in millions except for per share data and ratio. All numbers are in their own 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 Aug. 2014 was $1,247 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 Aug. 2014 was $413 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 Aug. 2014 was $-550 Mil. It means Carnival Corp's working capital declined by $550 Mil from May. 2014 to Aug. 2014 .

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 Aug. 2014 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 Aug. 2014 was $0 Mil.

6. 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 Aug. 2014 was $10 Mil.


Related Terms

Net Income From Continuing Operations, Depreciation, Depletion and Amortization, Change In Working Capital, Cash Flow from Discontinued Operations, 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 own currency.

Carnival Corp Annual Data

Nov04Nov05Nov06Nov07Nov08Nov09Nov10Nov11Nov12Nov13
NetIncomeFromContinuingOperations 1,8542,2572,2792,4082,3301,7901,9781,9121,2981,078
CF_DDA 8129029881,1011,2491,3091,4161,5221,5271,588
ChangeInWorkingCapital 513194279470-201156396238-106-63
CF_DeferredTax 0000000000
Cash Flow from Disc. Op. 0000000000
Cash Flow from Others 3757879013872894280231
Cash Flow from Operations 3,2163,4103,6334,0693,3913,3423,8183,7662,9992,834

Carnival Corp Quarterly Data

May12Aug12Nov12Feb13May13Aug13Nov13Feb14May14Aug14
NetIncomeFromContinuingOperations 001,298374193466-151061,247
CF_DDA 376383392389391406402404410413
ChangeInWorkingCapital 600-583-1-92692-6821954688-550
CF_DeferredTax 0000000000
Cash Flow from Disc. Op. 0000000000
Cash Flow from Others 1601,218-1,1666533145-1234-810
Cash Flow from Operations 1,1361,0185233991,1578034754771,1961,120
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