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Content analysis
?| Positive | ||
| Negative | ||
| Uncertain | ||
| Constraining | ||
| Legalese | ||
| Litigious | ||
| Readability |
H.S. freshman Avg
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- 10-K Annual report
- 10.12 EX-10.12 Second Amendment to Lease
- 10.28 EX-10.28 Amendment to 401K Plan
- 10.29 EX-10.29 Amendment to Nonqualified Deferred Comp. Plan
- 10.31 EX-10.31 Amendment Supp. Executive Retirement Plan
- 10.32 EX-10.32 Board of Directors Compensation
- 10.34 EX-10.34 Stock Option Award Certificate
- 10.35 EX-10.35 Stock Option Award Certificate
- 10.36 EX-10.36 Restricted Stock Unit Agreement
- 12.1 EX-12.1 Ratio of Earnings to Fixed Charges
- 21.1 EX-21.1 List of Subsidiaries
- 23.1 EX-23.1 Consent of PWC
- 23.2 EX-23.2 Consent of DBR
- 24 Power of Attorney - Bernard W. Aronson
- 24 Power of Attorney - Arvid Grundekjoen
- 24 Power of Attorney - William L. Kimsey
- 24 Power of Attorney - Laura Laviada
- 24 Power of Attorney - Gert W. Munthe
- 24 Power of Attorney - Eyal Ofer
- 24 Power of Attorney - Thomas J. Pritzker
- 24 Power of Attorney - William K. Reilly
- 24 Power of Attorney - Bernt Reitan
- 24 Power of Attorney - Arne Alexander Wilhelmsen
- 31 Certifications - Richard D. Fain
- 31 Certifications - Brian J. Rice
- 32 Certifications Pursuant to Section 1350
- PDF Complimentary Copy
Exhibit 12.1
Royal Caribbean Cruises Ltd.
Ratio of Earnings to Fixed Charges
(in thousands, except ratios)
| Years Ended December 31, | ||||||||
| 2007 |
| 2006 |
| 2005 |
| 2004 |
| 2003 |
|
|
|
|
|
|
|
|
|
|
Earnings |
|
|
|
|
|
|
|
|
|
Income before cumulative effect of a change in accounting principle |
$603,405 |
|
$633,922 |
|
$663,465 |
|
$474,691 |
|
$280,664 |
Income tax expense | 2,524 |
| 7,881 |
| 16,124 |
| 2,810 |
| 2,100 |
(Income) loss from equity investees | (7,837) |
| (4,417) |
| (6,661) |
| (1,912) |
| (1,694) |
Fixed charges | 394,503 |
| 327,263 |
| 310,442 |
| 343,272 |
| 307,369 |
Capitalized interest | (39,939) |
| (27,844) |
| (17,688) |
| (7,228) |
| (15,932) |
|
|
|
|
|
|
|
|
|
|
Earnings | $952,656 |
| $936,805 |
| $965,682 |
| $811,633 |
| $572,507 |
|
|
|
|
|
|
|
|
|
|
Fixed Charges |
|
|
|
|
|
|
|
|
|
Interest expense (1) | $373,723 |
| $295,705 |
| $287,438 |
| $317,205 |
| $284,328 |
Interest portion of rent expense (2) | 20,780 |
| 31,558 |
| 23,004 |
| 26,067 |
| 23,041 |
|
|
|
|
|
|
|
|
|
|
Fixed charges | $394,503 |
| $327,263 |
| $310,442 |
| $343,272 |
| $307,369 |
|
|
|
|
|
|
|
|
|
|
Ratio of Earnings to Fixed Charges | 2.4x |
| 2.9x |
| 3.1x |
| 2.4x |
| 1.9x |
(1) Interest expense includes capitalized interest and amortization of deferred financing expenses. |
|
|
(2) Interest portion of rent expense represents actual interest charges for the Brilliance of the Seas operating lease and, for all other rentals, we have assumed that one-third of rent expense is representative of the interest factor. | ||