Carnival Corporation & plc (CCL)

Carnival Corporation Cash Flow Statement

Financials in millions USD. Fiscal year is December - November.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Nov 30, 2025	Nov 30, 2024	Nov 30, 2023	Nov 30, 2022	Nov 30, 2021
Net Income	2,760	1,916	-74	-6,093	-9,501
Depreciation & Amortization	2,790	2,557	2,370	2,275	2,233
Other Amortization	116	141	161	171	172
Loss (Gain) From Sale of Assets	-112	-41	-88	-7	-11
Asset Writedown & Restructuring Costs	-	-	-	440	817
Loss (Gain) From Sale of Investments	-	-	-	30	17
Loss (Gain) on Equity Investments	-	-	-	38	129
Stock-Based Compensation	98	62	53	101	121
Other Operating Activities	711	328	334	212	956
Change in Accounts Receivable	-84	-49	-180	-171	-7
Change in Inventory	2	9	-85	-95	-63
Change in Accounts Payable	61	-26	77	283	206
Change in Unearned Revenue	308	507	1,169	1,679	1,291
Change in Other Net Operating Assets	-432	519	544	-533	-469
Operating Cash Flow	6,218	5,923	4,281	-1,670	-4,109
Operating Cash Flow Growth	4.98%	38.36%	-	-	-
Capital Expenditures	-3,611	-4,626	-3,284	-4,940	-3,607
Sale of Property, Plant & Equipment	323	58	340	70	351
Cash Acquisitions	-	-	-	-	-90
Investment in Securities	-100	-64	-21	200	-200
Other Investing Activities	67	97	155	-97	3
Investing Cash Flow	-3,321	-4,535	-2,810	-4,767	-3,543
Long-Term Debt Issued	11,152	3,095	2,961	7,209	13,042
Total Debt Issued	11,152	3,095	2,961	7,209	13,042
Short-Term Debt Repaid	-	-	-200	-2,590	-293
Long-Term Debt Repaid	-12,936	-5,436	-7,660	-2,075	-5,956
Total Debt Repaid	-12,936	-5,436	-7,860	-4,665	-6,249
Net Debt Issued (Repaid)	-1,784	-2,341	-4,899	2,544	6,793
Issuance of Common Stock	-	-	-	1,275	1,215
Repurchase of Common Stock	-	-	-	-87	-188
Other Financing Activities	-405	-243	-190	-155	-871
Financing Cash Flow	-2,189	-2,584	-5,089	3,577	6,949
Foreign Exchange Rate Adjustments	19	-8	17	-79	-13
Miscellaneous Cash Flow Adjustments	-	-1	-	-1	1
Net Cash Flow	727	-1,205	-3,601	-2,940	-715
Free Cash Flow	2,607	1,297	997	-6,610	-7,716
Free Cash Flow Growth	101.00%	30.09%	-	-	-
Free Cash Flow Margin	9.79%	5.18%	4.62%	-54.32%	-404.40%
Free Cash Flow Per Share	1.86	0.93	0.79	-5.60	-6.87
Cash Interest Paid	1,200	1,600	2,000	1,400	1,300
Levered Free Cash Flow	1,549	591.5	1,158	-6,017	-4,111
Unlevered Free Cash Flow	2,276	1,547	2,288	-5,183	-3,283
Change in Working Capital	-145	960	1,525	1,163	958

Updated Dec 19, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q