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Carnival Corp  (NYSE:CCL) Cash And Cash Equivalents: $597 Mil (As of May. 2017)

Carnival Corp's quarterly cash and cash equivalents declined from Nov. 2016 ($603.00 Mil) to Feb. 2017 ($437.00 Mil) but then increased from Feb. 2017 ($437.00 Mil) to May. 2017 ($597.00 Mil).

Carnival Corp's annual cash and cash equivalents increased from Nov. 2014 ($331.00 Mil) to Nov. 2015 ($1,395.00 Mil) but then declined from Nov. 2015 ($1,395.00 Mil) to Nov. 2016 ($603.00 Mil).


Historical Data

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

* Premium members only.

Carnival Corp Annual Data

Nov07 Nov08 Nov09 Nov10 Nov11 Nov12 Nov13 Nov14 Nov15 Nov16
Cash And Cash Equivalents Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 465.00 462.00 331.00 1,395.00 603.00

Carnival Corp Quarterly Data

Aug12 Nov12 Feb13 May13 Aug13 Nov13 Feb14 May14 Aug14 Nov14 Feb15 May15 Aug15 Nov15 Feb16 May16 Aug16 Nov16 Feb17 May17
Cash And Cash Equivalents Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 519.00 462.00 603.00 437.00 597.00

Calculation

Cash and cash equivalents are the most liquid assets on the balance sheet. Cash equivalents are assets that are readily convertible into cash, such as money market holdings, short-term government bonds or Treasury bills, marketable securities and commercial paper.


Explanation

A high number means either:

1) The company has competitive advantage generating lots of cash

2) Just sold a business or bonds (not necessarily good)

A low stockpile of cash usually means poor to mediocre economics.

There are 3 ways to create large cash reserve.

1) Sell new bonds or equity to public

2) Sell business or asset

3) It has an ongoing business generating more cash than it burns (usually means durable competitive advantage)

When a company is suffering a short term problem, Buffett looks at cash or marketable securities to see whether it has the financial strength to ride it out.

Important: Lots of cash and marketable securities + little debt = good chance that the business will sail on through tough times.

Test to see what is creating cash by looking at past 7 yrs of balance sheets. This will reveal how the cash was created.


Be Aware

Depreciation estimates make the calculation of net income susceptible to management's accounting choices. These choices can be either overly aggressive or overly conservative.


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