CCL
Cautionary Note Concerning Factors That May Affect Future Results
condition and results •Estimates of ship depreciable lives and residual of operations values
The ordering of the risk factors set forth above is not intended to reflect our indication of priority or likelihood.
New Accounting Pronouncements
Refer to Note 1 - "General, Accounting Pronouncements" of the consolidated financial statements for additional discussion regarding accounting pronouncements.
Critical Accounting Estimates
For a discussion of our critical accounting estimates, see "Management's Discussion and Analysis of Financial Condition and Results of Operations" that is included in the Form 10-K.
Seasonality
Known Trends and Uncertainties
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Statistical Information
The resumption of guest cruise operations has impacted the comparability of all aspects of our business.
Notes to Statistical Information
(a)PCD represents the number of cruise passengers on a voyage multiplied by the number of revenue-producing ship operating days for that voyage.
(d)Fuel consumption in metric tons per thousand ALBDs for 2021 is not meaningful.
Operating Costs and Expenses
Income (Loss) Before Income Taxes $ (759) $ (2,859)
Three Months Ended August 31, 2022 ("2022") Compared to Three Months Ended August 31, 2021 ("2021")
EA Segment
There were no ship impairment charges recognized in 2022 and $475 million of ship impairment charges recognized in 2021.
The drivers in changes in costs and expenses for our NAA and EA segments are the same as those described for our consolidated results.
Nonoperating Income (Expense)
Gains (losses) on debt extinguishment, net decreased to $0 million in 2022 from $376 million in 2021.
Nine Months Ended August 31, 2022 ("2022") Compared to Nine Months Ended August 31, 2021 ("2021")
EA Segment
Operating Costs and Expenses
Consolidated
The drivers in changes in costs and expenses for our NAA and EA segments are the same as those described for our consolidated results.
Nonoperating Income (Expense)
Gains (losses) on debt extinguishment, net decreased to $0 million in 2022 from $372 million in 2021.
Liquidity, Financial Condition and Capital Resources
Refer to Note 1 - "General, Liquidity and Management's Plans" of the consolidated financial statements for additional discussion regarding our liquidity.
Investing Activities
During the nine months ended August 31, 2022, net cash used in investing activities was $3.5 billion. This was driven by the following:
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During the nine months ended August 31, 2021, net cash used in investing activities was $3.5 billion. This was driven by the following:
Financing Activities
Funding Sources
2024
Future export credit facilities at August 31, 2022 $ 0.8 $ 1.6
$ 0.5
Off-Balance Sheet Arrangements
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