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Royal Caribbean Cruises, Ltd. (NYSE:RCL)
Cash Flow from Operations
$1,412 Mil (TTM As of Dec. 2013)

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 Dec. 2013, Royal Caribbean Cruises, Ltd.'s Net Income From Continuing Operations was $7 Mil. Its DDA was $191 Mil. Its Change In Working Capital was $-76 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 $61 Mil. In all, Royal Caribbean Cruises, Ltd.'s Cash Flow from Operations for the three months ended in Dec. 2013 was $182 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.

Royal Caribbean Cruises, Ltd.'s Cash Flow from Operations for the fiscal year that ended in Dec. 2013 is calculated as:

Royal Caribbean Cruises, Ltd.'s Cash Flow from Operations for the quarter that ended in Dec. 2013 is

Royal Caribbean Cruises, Ltd. Cash Flow from Operations for the trailing twelve months (TTM) ended in Dec. 2013 was 241.257 (Mar. 2013 ) + 431.531 (Jun. 2013 ) + 557.316 (Sep. 2013 ) + 181.964 (Dec. 2013 ) = $1,412 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.

Royal Caribbean Cruises, Ltd.'s net income from continuing operations for the three months ended in Dec. 2013 was $7 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

Royal Caribbean Cruises, Ltd.'s depreciation, depletion and amortization for the three months ended in Dec. 2013 was $191 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.

Royal Caribbean Cruises, Ltd.'s change in working capital for the three months ended in Dec. 2013 was $-76 Mil. It means Royal Caribbean Cruises, Ltd.'s working capital declined by $76 Mil from Sep. 2013 to Dec. 2013 .

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

Royal Caribbean Cruises, Ltd.'s cash flow from deferred tax for the three months ended in Dec. 2013 was $0 Mil.

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

Royal Caribbean Cruises, Ltd.'s cash flow from discontinued operations for the three months ended in Dec. 2013 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).

Royal Caribbean Cruises, Ltd.'s cash flow from others for the three months ended in Dec. 2013 was $61 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.

Royal Caribbean Cruises, Ltd. Annual Data

Dec04Dec05Dec06Dec07Dec08Dec09Dec10Dec11Dec12Dec13
NetIncomeFromContinuingOperations 47566363460357416251660718474
CF_DDA 394402422483520568644702730755
ChangeInWorkingCapital 15644-125179-1965321125162114
CF_DeferredTax 00000000280
Cash Flow from Disc. Op. 0000000000
Cash Flow from Others 532184-4501832044269
Cash Flow from Operations 1,0771,1119491,2691,0718451,6631,4561,3821,412

Royal Caribbean Cruises, Ltd. Quarterly Data

Sep11Dec11Mar12Jun12Sep12Dec12Mar13Jun13Sep13Dec13
NetIncomeFromContinuingOperations 39960747-4368-39376253667
CF_DDA 177180179181182189189186189191
ChangeInWorkingCapital -130-236161-2622-2319420-76
CF_DeferredTax 00000280000
Cash Flow from Disc. Op. 0000000000
Cash Flow from Others 60-581-173165364-127-1761
Cash Flow from Operations 506183215368589209241432557182
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