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Carnival Corp (NYSE:CCL)
Change In Receivables
$-272 Mil (As of Aug. 2014)

Carnival Corp's change in receivables for the quarter that ended in Aug. 2014 was $-272 Mil. It means Carnival Corp's accounts receivables declined by $272 Mil from May. 2014 to Aug. 2014 .

Carnival Corp's change in receivables for the fiscal year that ended in Nov. 2013 was $-128 Mil. It means Carnival Corp's accounts receivables declined by $128 Mil from Nov. 2012 to Nov. 2013 .

Carnival Corp's accounts receivables for the quarter that ended in Aug. 2014 was $355 Mil.

Days sales outstanding measures of the average number of days that a company takes to collect revenue after a sale has been made. It is a financial ratio that illustrates how well a company's accounts receivables are being managed. Carnival Corp's days sales outstanding for the three months ended in Aug. 2014 was 6.55.

In Ben Graham’s calculation of liquidation value, Apple Inc's accounts receivables are only considered to be worth 75% of book value. Carnival Corp's liquidation value for the three months ended in Aug. 2014 was $-13,959 Mil.


Definition

Change In Accounts Receivable relative to the previous period. It is any increase or decrease in the cash a company is owed by its customers.


Explanation

1. Accounts Receivable are created when a customer has received a product but has not yet paid for that product. Days sales outstanding measures of the average number of days that a company takes to collect revenue after a sale has been made. It is a financial ratio that illustrates how well a company's accounts receivables are being managed.

Carnival Corp's Days Sales Outstanding for the quarter that ended in Aug. 2014 is calculated as:

Days Sales Outstanding
=Account Receivable/Revenue*Days in Period
=355/4947*91
=6.55

2. In Ben Graham’s calculation of liquidation value, Carnival Corp's accounts receivable are only considered to be worth 75% of book value:

Carnival Corp's liquidation value for the quarter that ended in Aug. 2014 is calculated as:

Liquidation Value
=Cash and Cash Equivalents-Total Liabilities+(0.75 * Account Receivable)+(0.5 * Inventory)
=436-14840+0.75 * 355+0.5 * 358
=-13,959

* All numbers are in millions except for per share data and ratio. All numbers are in their own currency.


Related Terms

Days Sales Outstanding, Account Receivable, Revenue, NCAV, Cash and Cash Equivalents, Total Liabilities, Inventory


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
ChangeInReceivables 11-71118-119-7081106-43-15-128

Carnival Corp Quarterly Data

May12Aug12Nov12Feb13May13Aug13Nov13Feb14May14Aug14
ChangeInReceivables -1395-134204-24244146160-272
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