Royal Caribbean Cruises Ltd.

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Key Statistics

Current Financial Info.
Historical Financial Info.
Capital Structure*
Fleet Data
Fleet Expansion Projects

Current Financial Information

Type	Q1	Q2	Q3	Q4	YTD
Revenues	$2,027,756	$2,337,605	$2,796,187	$2,332,301	$9,493,849
Gross Yield Change	5.08%	3.65%	1.04%	6.08%	3.95%
Net Yield Change	7.04%	3.82%	1.76%	5.49%	4.50%
Operating Expenses	$1,176,019	$1,314,411	$1,411,364	$1,360,413	$5,262,207
Gross Cruise Costs	$1,522,618	$1,611,408	$1,710,623	$1,686,927	$6,531,575
Net Cruise Costs	$1,132,472	$1,110,863	$1,109,556	$1,207,591	$4,560,481
Operating Income	$274,146	$456,895	$799,733	$364,027	$1,894,801
Net Income as Reported	$218,653	$466,295	$810,391	$315,703	$1,811,042
Earnings per Share (Diluted)	$1.02	$2.19	$3.86	$1.50	$8.56
Dividend per Common Share	$0.60	$0.60	$0.70	$0.70	$2.60
Earnings Release Date	26-Apr-2018	02-Aug-2018	25-Oct-2018	30-Jan-2019	30-Jan-2019

Historical Financial Information

2017

Type	Q1	Q2	Q3	Q4	YTD
Revenues	$2,008,560	$2,195,274	$2,569,544	$2,004,467	$8,777,845
Gross Yield Change	3.75%	8.74%	6.23%	5.61%	5.87%
Net Yield Change	5.92%	9.89%	5.89%	5.52%	6.54%
Operating Expenses	$1,175,824	$1,256,785	$1,318,269	$1,145,701	$4,896,579
Gross Cruise Costs	$1,493,289	$1,540,640	$1,591,906	$1,456,760	$6,082,595
Net Cruise Costs	$1,077,047	$1,067,872	$1,025,268	$1,053,686	$4,223,873
Operating Income	$279,522	$419,697	$737,488	$307,349	$1,744,056
Net Income as Reported	$214,726	$369,526	$752,842	$288,039	$1,625,133
Earnings per Share (Diluted)	$0.99	$1.71	$3.49	$1.34	$7.53
Dividend per Common Share	$0.48	$0.48	$0.60	$0.60	$2.16
Earnings Release Date	28-Apr-2017	1-Aug-17	7-Nov-17	24-Jan-18

2016

Type	Q1	Q2	Q3	Q4	YTD
Revenues	$1,917,795	$2,105,262	$2,563,741	$1,909,603	$8,496,401
Gross Yield Change	0.88%	-3.12%	-1.52%	0.62%	-0.86%
Net Yield Change	3.44%	-0.46%	0.43%	3.39%	1.57%
Operating Expenses	$1,241,578	$1,310,587	$1,340,123	$1,123,251	$5,015,539
Gross Cruise Costs	$1,543,599	$1,596,944	$1,597,553	$1,377,733	$6,115,829
Net Cruise Costs	$1,112,564	$1,125,344	$1,036,733	$993,268	$4,273,995
Operating Income	$163,127	$282,273	$734,963	$296,842	$1,477,205
Net Income as Reported	$99,140	$229,905	$693,257	$261,086	$1,283.388
Earnings per Share (Diluted)	$0.46	$1.06	$3.21	$1.21	$5.93
Dividend per Common Share	$0.375	$0.375	$0.48	$0.48	$1.71
Earnings Release Date	29-Apr-16	02-Aug-16	28-Oct-16	26-Jan-17

2015

Type	Q1	Q2	Q3	Q4	YTD
Revenues	$1,815,599	$2,058,322	$2,523,100	$1,902,053	$8,299,074
Gross Yield Change	-7.15%	-1.02%	-1.05%	-1.36%	-2.46%
Net Yield Change	-5.39%	-0.16%	0.18%	0.56%	-1.01%
Operating Expenses	$1,222,617	$1,316,409	$1,387,026	$1,173,341	$5,099,393
Gross Cruise Costs	$1,509,449	$1,590,557	$1,643,086	$1,442,805	$6,185,897
Net Cruise Costs	$1,068,792	$1,087,617	$1,054,716	$1,020,890	$4,232,015
Operating Income	$105,682	$261,297	$258,005	$249,918	$874,902
Net Income as Reported	$45,230	$184,967	$228,787	$206,799	$665,783
Earnings per Share (Diluted)	$0.20	$0.84	$1.03	$0.94	3.02
Dividend per Common Share	$0.30	$0.30	$0.375	$0.375	$1.35
Earnings Release Date	20-Apr-15	31-Jul-15	23-Oct-15	02-Feb-16

2014

Type	Q1	Q2	Q3	Q4	YTD
Revenues	$1,887,224	$1,980,043	$2,388,762	$1,817,826	$8,073,855
Gross Yield Change	-1.78%	0.65%	1.01%	-4.01%	-0.90%
Net Yield Change	-2.69%	2.41%	4.95%	0.37%	1.44%
Operating Expenses	$1,303,980	$1,330,674	$1,426,882	$1,244,745	$5,306,281
Gross Cruise Costs	$1,594,287	$1,591,662	$1,666,544	$1,502,740	$6,355,233
Net Cruise Costs	$1,092,302	$1,086,314	$1,068,329	$1,068,526	$4,315,471
Operating Income	$97,466	$195,587	$529,462	$119,344	$941,859
Net Income as Reported	$26,457	$137,673	$490,248	$109,768	$764,146
Earnings per Share (Diluted)	$0.12	$0.62	$2.19	$0.49	$3.43
Dividend per Common Share	$0.25	$0.25	$0.30	$0.30	$1.10
Earnings Release Date	25-Apr-14	24-Jul-14	23-Oct-14	29-Jan-15

2013

Type	Q1	Q2	Q3	Q4	YTD
Revenues	$1,911,220	$1,882,767	$2,311,749	$1,854,158	$7,959,894
Gross Yield Change	2.60%	2.67%	2.79%	2.69%	2.72%
Net Yield Change	0.41%	-0.42%	-1.52%	2.45%	2.33%
Operating Expenses	$1,282,190	$1,323,619	$1,416,801	$1,282,660	$5,305,270
Gross Cruise Costs	$1,556,224	$1,581,567	$1,666,755	$1,545,543	$6,350,089
Net Cruise Costs	$1,076,829	$1,075,155	$1,042,435	$1,047,596	$4,242,015
Operating Income	$165,632	$113,338	$444,209	$74,969	$798,148
Net Income as Reported	$76,226	$24,747	$365,701	$7,018	$473,692
Earnings per Share (Diluted)	$0.35	$0.11	$1.65	$0.03	$2.14
Dividend per Common Share	$0.12	$0.12	$0.25	$0.25	$0.74
Earnings Release Date	25-Apr-13	25-Jul-13	24-Oct-13	27-Jan-14

2018

Type	Q1	Q2	Q3	Q4	YTD
Revenues	$2,027,756	$2,337,605	$2,796,187	$2,332,301	$9,493,849
Gross Yield Change	5.08%	3.65%	1.04%	6.08%	3.95%
Net Yield Change	7.04%	3.82%	1.76%	5.49%	4.50%
Operating Expenses	$1,176,019	$1,314,411	$1,411,364	$1,360,413	$5,262,207
Gross Cruise Costs	$1,522,618	$1,611,408	$1,710,623	$1,686,927	$6,531,575
Net Cruise Costs	$1,132,472	$1,110,863	$1,109,556	$1,207,591	$4,560,481
Operating Income	$274,146	$456,895	$799,733	$364,027	$1,894,801
Net Income as Reported	$218,653	$466,295	$810,391	$315,703	$1,811,042
Earnings per Share (Diluted)	$1.02	$2.19	$3.86	$1.50	$8.56
Dividend per Common Share	$0.60	$0.60	$0.70	$0.70	$2.60
Earnings Release Date	26-Apr-2018	02-Aug-2018	25-Oct-2018	30-Jan-2019	30-Jan-2019

Capital Structure*

Capital Structure* (see 10-K)

Type	2017	2016	2015	2014	2013
Total Debt (000s)	$7,539,451	$9,387,436	$8,527,243	$8,443,948	$8,074,804
Equity (000s)	$10,702,303	$9,121,412	$8,063,039	$8,284,359	$8,808,265
Net Debt/Capital	40.9%	50.4%	51.0%	50.1%	47.2%

Fleet Data

Royal Caribbean International

Name	Year in Service	Estimated Capacity	Gross Tons
Symphony of the Seas	2018	5,500	230,000
Harmony of the Seas	2016	5,450	225,250
Ovation of the Seas	2016	4,100	167,800
Anthem of the Seas	2015	4,150	166,750
Quantum of the Seas	2014	4,150	166,750
Allure of the Seas	2010	5,450	222,900
Oasis of the Seas	2009	5,450	222,900
Independence of the Seas	2008	3,850	154,400
Liberty of the Seas	2007	3,750	154,400
Freedom of the Seas	2006	3,750	154,400
Jewel of the Seas	2004	2,150	90,050
Mariner of the Seas	2003	3,300	142,000
Serenade of the Seas	2003	2,100	90,050
Navigator of the Seas	2002	3,250	142,000
Brilliance of the Seas	2002	2,100	90,050
Adventure of the Seas	2001	3,100	142,000
Radiance of the Seas	2001	2,100	90,050
Explorer of the Seas	2000	3,250	142,000
Voyager of the Seas	1999	3,250	142,000
Vision of the Seas	1998	2,000	78,450
Enchantment of the Seas	1997	2,250	81,500
Rhapsody of the Seas	1997	2,000	78,450
Grandeur of the Seas	1996	1,950	74,100
Majesty of the Seas	1992	2,350	73,900
Empress of the Seas	1990	1,550	48,550

Celebrity Cruises

Name	Year in Service	Estimated Capacity	Gross Tons
Celebrity Edge	2018	2,900	129,500
Celebrity Xploration	2016	20	320
Celebrity Xperience	2016	50	1,600
Celebrity Reflection	2012	3,000	126,000
Celebrity Silhouette	2011	2,850	122,400
Celebrity Eclipse	2010	2,850	122,000
Celebrity Equinox	2009	2,850	122,000
Celebrity Solstice	2008	2,850	122,000
Celebrity Xpedition	2004	100	2,800
Celebrity Constellation	2002	2,150	90,200
Celebrity Summit	2001	2,150	91,000
Celebrity Infinity	2001	2,150	90,200
Celebrity Millennium	2000	2,150	90,200

Azamara Club Cruises

Name	Year in Service	Estimated Capacity	Gross Tons
Azamara Quest	2007	700	30,250
Azamara Journey	2007	700	30,250
Azamara Pursuit (1)	2018	700	30,250

Silversea

Name	Year in Service	Estimated Capacity	Gross Tons
Silver Muse	2017	550	40,700
Silver Spirit	2009	600	36,000
Silver Whisper	2001	350	28,250
Silver Shadow	2000	350	28,250
Silver Wind	1995	250	16,900
Silver Cloud	1994	250	16,900
Silver Galapagos	1990	100	4,050
Silver Discoverer	1989	100	5,200
Silver Explorer	1989	100	6,050

TUI Cruises

Name	Year in Service	Estimated Capacity	Gross Tons
Mein Schiff 1 (new) (2)	2018	2,850	111,500
Mein Schiff 6	2017	2,500	98,800
Mein Schiff 5	2016	2,500	98,750
Mein Schiff 4	2015	2,500	99,500
Mein Schiff 3	2014	2,500	99,500
Mein Schiff 2	2011	1,900	77,300

Pullmantur

Name	Year in Service	Estimated Capacity	Gross Tons
Zenith	2014	1,400	47,400
Monarch	2013	2,350	73,900
Horizon	2010	1,400	47,400
Sovereign	2008	2,300	73,500

Fleet Expansion Projects

Royal Caribbean International

Name	Year in Service	Estimated Capacity
Oasis 6	2023	5,700
Spectrum of the Seas	2019	4,250
Odyssey of the Seas	2020	4,250
Oasis 5	2021	5,500
Icon Class 1	2022	5,650
Icon Class 2	2024	5,650

Celebrity Cruises

Name	Year in Service	Estimated Capacity
Celebrity Flora	2019	100
Celebrity Apex	2020	2,900
Edge 3	2021	3,200
Edge 4	2022	3,200

Silversea

Name	Year in Service	Estimated Capacity
Silver Moon	2020	550
Silver Origin	2020	100
Silver Dawn	2021	550

TUI Cruises

Name	Year in Service	Estimated Capacity
TUI Unnamed	2019	2,850
TUI Unnamed	2023	2,850
TUI Unnamed	2024	4,100
TUI Unnamed	2026	4,100