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Content analysis
?Positive | ||
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- 10-Q Quarterly report
- 10.1 Carnival Corporation & PLC Management Incentive Plan
- 10.2 Amended and Restated Executive Long-term Compensation Agreement
- 10.3 Amended and Restated Executive Long-term Compensation Agreement
- 10.4 Amendment No. 2 of the Employment Agreement
- 12 Ratio of Earnings to Fixed Charges
- 31.1 Rule 13A-14(A)/15D-14(A) Certification
- 31.2 Rule 13A-14(A)/15D-14(A) Certification
- 31.3 Rule 13A-14(A)/15D-14(A) Certification
- 31.4 Rule 13A-14(A)/15D-14(A) Certification
- 31.5 Rule 13A-14(A)/15D-14(A) Certification
- 31.6 Rule 13A-14(A)/15D-14(A) Certification
- 32.1 Section 1350 Certification
- 32.2 Section 1350 Certification
- 32.3 Section 1350 Certification
- 32.4 Section 1350 Certification
- 32.5 Section 1350 Certification
- 32.6 Section 1350 Certification
- PDF 10-Q
Exhibit 12
CARNIVAL CORPORATION & PLC
Ratio of Earnings to Fixed Charges
(in millions, except ratios)
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| 2008 |
| 2007 |
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Net income |
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| $ | 236 |
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| $ | 283 |
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Income tax benefit, net |
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| (10 | ) |
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| (4 | ) |
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Income before income taxes |
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| 226 |
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| 279 |
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Fixed charges |
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Interest expense, net |
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| 98 |
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| 84 |
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Interest portion of rent expense (a) |
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| 5 |
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| 4 |
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Capitalized interest |
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| 14 |
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| 11 |
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Total fixed charges |
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| 117 |
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| 99 |
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Fixed charges not affecting earnings Capitalized interest |
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| (14 | ) |
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| (11 | ) |
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Earnings before fixed charges |
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| $ | 329 |
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| $ | 367 |
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Ratio of earnings to fixed charges |
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| 2.8 | x |
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| 3.7 | x |
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(a) | Represents one-third of rent expense, which we believe to be representative of the interest portion of rent expense. |
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