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Content analysis
?| Positive | ||
| Negative | ||
| Uncertain | ||
| Constraining | ||
| Legalese | ||
| Litigous | ||
| Readability |
8th grade Avg
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New words:
Alaskan, Azura, breached, captain, Citation, claim, Code, content, Correctionnelle, de, defendant, defense, en, fine, France, French, Grande, impose, Instance, Island, Matiere, passage, proceeding, Prosecutor, sulfur, territorial, Tribunal
Removed:
Caribbean, eliminated, elimination, intersegment, land, NOAA, package
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Exhibit 12
CARNIVAL CORPORATION & PLC
Ratio of Earnings to Fixed Charges
| Six Months Ended | |||||||
| May 31, | |||||||
| (in millions, except ratios) | 2018 | 2017 | |||||
| Net income | $ | 951 | $ | 730 | |||
| Income tax expense, net | 3 | 7 | |||||
| Income before income taxes | 955 | 737 | |||||
| Fixed charges | |||||||
| Interest expense, net of capitalized interest | 98 | 101 | |||||
| Interest portion of rent expense (a) | 11 | 11 | |||||
| Capitalized interest | 17 | 13 | |||||
| Total fixed charges | 125 | 125 | |||||
| Fixed charges not affecting earnings | |||||||
| Capitalized interest | (17 | ) | (13 | ) | |||
| Earnings before fixed charges | $ | 1,063 | $ | 849 | |||
| Ratio of earnings to fixed charges | 8.5 | 6.8 | |||||
| (a) | Represents one-third of rent expense, which we believe to be representative of the interest portion of rent expense. |